KUALA LUMPUR (Nov 30): Malaysia's Royal Commission of Inquiry (RCI) affirmed that Bank Negara Malaysia (BNM) incurred RM31.5 billion worth of foreign exchange (forex) losses due to the central bank's forex dealings in the 1990s.

According the RCI's report, the commission alleged that BN...

Malaysia RCI affirms Bank Negara's RM31.5b forex loss

PUTRAJAYA (Sept 19): Chairman Tan Sri Mohd Sidek Hassan of the Royal Commission of Inquiry (RCI) into the 1990s foreign exchange (forex) scandal refused to retract his conclusion that RM31.5 billion was lost due to the central bank's forex trading at the time, which he came to on the first day of...

Forex probe RCI chief refuses to retract early conclusion of RM31.5b lost

PUTRAJAYA (Sept 19): The absence of two key witnesses' statements, former Bank Negara Malaysia (BNM) governor — the late Tan Sri Jaffar Hussein, and ex-Auditor-General Tan Sri Ishak Tadin, pose huge gaps in evidence over the Royal Commission of Inquiry into the 1980s to 1990s foreign exchange sca...

Absence of two key witnesses pose gaps in RCI evidence, say Anwar's counsels

PUTRAJAYA (Sept 19): The Royal Commission of Inquiry (RCI) into the 1980s to 1990s foreign exchange (forex) scandal drew to a close without calling its final witness, former Auditor-General Tan Sri Ishak Tadin, who served between 1986 and 1994.

The panel excused Ishak, 85, from testifyi...

RCI panel draws to a close, final witness unable to testify

PUTRAJAYA (Sept 18): Tun Dr Mahathir Mohamad, speaking on Bank Negara Malaysia's forex loss in the 1990s, said there would have been no reason for then finance minister Datuk Seri Anwar Ibrahim to have doubted the audited accounts of the central bank.

"[At the time], Anwar explained the...

MoF will accept audited BNM accounts, no reason to suspect foul play — Tun M

PUTRAJAYA (Sept 18): Former Bank Negara Malaysia (BNM) governor the late Tan Sri Jaffar Hussein was engaged in currency speculation, not manipulation, said Tun Dr Mahathir Mohamad.

"Jaffar did not manipulate the currency trading but he miscalculated. He miscalculated the Maastricht Trea...

Tun M says late BNM governor Jaffar miscalculated, not manipulated, forex trading

PUTRAJAYA (Sept 18): Former Prime Minister Tun Dr Mahathir Mohamad said that he was only aware RM5.7 billion worth of foreign exchange (forex) losses suffered by Bank Negara Malaysia (BNM) in the early 1990s and not RM30 billion.

“If I had known the losses was RM30 billion, I would not ...

 I was only aware of RM5.7 bil forex losses, not RM30 bil, says Tun M

PUTRAJAYA (Sept 18): Former finance minister Tun Abdul Daim Haji Zainuddin told the Royal Commission of Inquiry (RCI) that he was not aware of any policy changes by Bank Negara Malaysia (BNM) with regards to its approach to foreign exchange (forex) trading after 1985.

"I was not informe...

I was not informed of BNM's forex trading policy changes in 1980s, Tun Daim says

KUALA LUMPUR (Sept 18): The sale of shares in Tenaga Nasional Bhd (TNB) and Telekom Malaysia Bhd (TM) by Bank Negara Malaysia (BNM) in the 1990s to cover the foreign exchange (forex) losses it suffered was to be done discreetly, the Finance Ministry's former deputy finance secretary Datuk Othman ...

BNM's share sale to cover forex losses instructed to be done 'discreetly', RCI told

PUTRAJAYA (Aug 30): Both former prime minister Tun Dr Mahathir Mohamad and then finance minister Datuk Seri Anwar Ibrahim were informed of Bank Negara Malaysia's foreign exchange (forex) trading losses that amounted to some RM30 billion in the early 1990s, the Royal Commission of Inquiry investig...

'Dr M, Anwar informed of forex losses totalling RM30b'

PUTRAJAYA (Aug 30): Bank Negara Malaysia was "basically insolvent" in the early 1990s after suffering losses from foreign exchange trading, the five-member Royal Commission of Inquiry formed to investigate the alleged losses at the central bank was told today.

"About late 1993, or early...

Bank Negara 'basically insolvent' in 1993/94 after forex losses

PUTRAJAYA (Aug 30): The Malaysian Royal Commission of Inquiry was told today that former Bank Negara Malaysia (BNM) governor, the late Tan Sri Jaffar Hussein, was an "honourable" man, although "too trusting of forex officers".

"Jaffar was an honourable, well-intentioned man. But he was ...

Late BNM governor 'too trusting of forex officers', RCI told

PUTRAJAYA (Aug 30): Bank Negara Malaysia (BNM) former deputy governor Tan Sri Lin See-Yan claims former BNM governor the late Tan Sri Jaffar Hussein admitted that the latter had led the central bank into a "mess", due to the regulator's alleged foreign exchange (forex) losses in the 1990s.

...

Lin See-Yan on BNM ex-governor Jaffar's parting words: 'I got the bank into this mess'

PUTRAJAYA (Aug 30): Malaysia's Royal Commission of Inquiry (RCI) was told today that Bank Negara Malaysia (BNM) former governor Tan Sri Jaffar Hussein had instructed central bank officials to take a second look at the regulator's accounts, as he was initially shocked to learn about BNM's alleged ...

BNM former governor Jaffar shocked to learn about forex loss, RCI told

Russia's Vladimir Putin on Saturday apologised to Azerbaijan's president for a "tragic incident" which happened in Russian airspace involving an Azerbaijan Airlines passenger plane that crashed after air defences were used against Ukrainian drones.

Putin apologises to Azerbaijan's Aliyev over 'tragic incident' with plane in Russian airspace

Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire.

Singapore oil mogul declared bankrupt after empire collapsed

The recent Court of Appeal decision in the case of Zuraida Bte Kamaruddin v Saifuddin Nasution bin Ismail stirred interest not just within the legal fraternity but caused public disquiet due to its wide-reaching implications on the political scene and society at large.

Establishing the reasonable price of disloyalty

British Prime Minister Keir Starmer has asked the country's regulators, including the financial and competition watchdogs, to remove barriers to growth in an effort to revive a sluggish economy, Sky News reported on Saturday.

UK's Starmer asks regulators to prioritise economic growth — report

The next interest rate cut by the European Central Bank could be longer in coming after a recent uptick in inflation, ECB Governing Council member Robert Holzmann was quoted as saying on Saturday.

Next ECB rate cut could be longer in coming, Holzmann says

China’s central government urged local authorities to offer handouts to people struggling with the cost of living, Xinhua News Agency reported, citing a notice from the Ministry of Civil Affairs.

China urges local govts to give cash handouts for New Year — report

All applications for pardons related to offences committed in the Federal Territories of Kuala Lumpur, Labuan and Putrajaya must be submitted to the Pardons Board, which is chaired by the King, said the Attorney General's Chambers (AGC).

AGC: All applications for pardons in Federal Territories must be made to Pardons Board

The future of gas transit through Ukraine is at a turning point. If a last-minute deal isn’t struck by Wednesday, billions of cubic meters in gas flows could come to a halt.

Ukraine-Russia gas transit deal faces critical moment of truth

Japan’s financial regulator ordered AEON Bank Ltd to fix its anti-money laundering system, saying it failed to detect and report suspicious activities by clients.

Japan's regulator orders AEON Bank Japan to fix money laundering gaps

Inspector-General of Police Tan Sri Razarudin Husain filed a RM3 million defamation lawsuit against blogger Wan Muhammad Azri Wan Deris, better known as Papagomo.

IGP files defamation suit against Papagomo

Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire.

The year 2024 has been a blockbuster one for Malaysia in terms of investment announcements, as global big names Microsoft Corp, Google LLC and more recently Oracle Corp disclosed multi-year billion-ringgit investments into the country.

A blockbuster year for foreign investment

Thailand and Malaysia are strengthening bilateral relations with an aspiring plan to achieve US$30 billion (RM134.22 billion) bilateral trade target by 2027, while prioritising greater cross-border trade promotion and facilitation in key sectors.

Thailand, Malaysia set sight on US$30b trade by 2027, greater cross-border ties

The Malaysian Meteorological Department (MetMalaysia) has issued a continuous rain warning at the alert level for several areas in Sabah until Dec 30.

MetMalaysia warns of continuous rain across four states

All applications for pardons related to offences committed in the Federal Territories of Kuala Lumpur, Labuan and Putrajaya must be submitted to the Pardons Board, which is chaired by the King, said the Attorney General's Chambers (AGC).

Russia's Vladimir Putin on Saturday apologised to Azerbaijan's president for a "tragic incident" which happened in Russian airspace involving an Azerbaijan Airlines passenger plane that crashed after air defences were used against Ukrainian drones.

Rapid KL’s rail services will operate until 3am, while selected bus routes will run until 3.30am on Jan 1 to ease congestion during New Year’s Eve celebrations for 2025.

Rapid KL extends operating hours for New Year's Eve celebrations

Inspector-General of Police Tan Sri Razarudin Husain filed a RM3 million defamation lawsuit against blogger Wan Muhammad Azri Wan Deris, better known as Papagomo.

The future of gas transit through Ukraine is at a turning point. If a last-minute deal isn’t struck by Wednesday, billions of cubic meters in gas flows could come to a halt.

China’s central government urged local authorities to offer handouts to people struggling with the cost of living, Xinhua News Agency reported, citing a notice from the Ministry of Civil Affairs.

The recent Court of Appeal decision in the case of Zuraida Bte Kamaruddin v Saifuddin Nasution bin Ismail stirred interest not just within the legal fraternity but caused public disquiet due to its wide-reaching implications on the political scene and society at large.

Jeff Bezos’ aerospace firm Blue Origin fired up the engines on its massive new rocket, the New Glenn, on Friday — a last critical test needed to pave the way for the vehicle’s debut launch to space.

Blue Origin fires up engines on new rocket ahead of debut launch

Back in August, Donald Trump announced that, if elected, he would try to amend the Federal Reserve Act to give the president a larger say in monetary policymaking. Now that he is heading back to the White House, is central bank independence on the chopping block?

When Trump was out of o...

The New Global Economy: What if Trump subdues the Fed?

British Prime Minister Keir Starmer has asked the country's regulators, including the financial and competition watchdogs, to remove barriers to growth in an effort to revive a sluggish economy, Sky News reported on Saturday.

The next interest rate cut by the European Central Bank could be longer in coming after a recent uptick in inflation, ECB Governing Council member Robert Holzmann was quoted as saying on Saturday.

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