Money

Luxembourg fines private bank Rothschild €9m, source says

Luxembourg fines private bank Rothschild €9m, source says

June 23, 2017

ZURICH, June 23 — Luxembourg watchdogs have fined the local arm of Swiss private bank Edmond de Rothschild for its handling of funds linked to scandal-hit Malaysian investment fund 1MDB, a source familiar with the matter said yesterday. The authorities and the bank confirmed Edmond de Rothschild had been fined nearly €9 million (RM43.09 million) for failing to take proper safeguards against money laundering. They did not comment on news reports that the case concerned... Read more

Recent Articles in Money

Bursa Malaysia easier at mid-morning

Bursa Malaysia easier at mid-morning KUALA LUMPUR, June 23 — Bursa Malaysia was in the red at mid-morning today due to weak buying demand and mild profit-taking in heavyweights. At 11.01am, the FTSE Bursa Malaysia KLCI (FBM... Read more

Oil edges up, but set for worst H1 performance in 20 years

Oil edges up, but set for worst H1 performance in 20 years SINGAPORE, June 23 — Oil edged up today, recovering slightly from steep falls earlier in the week, but is set for the worst performing first-half in two decades despite ongoing production... Read more

Dollar sluggish but firm, oil bounce helps commodity currencies

Dollar sluggish but firm, oil bounce helps commodity currencies TOKYO, June 23 — The dollar was little changed today as traders marked time ahead of next week’s US inflation-linked indicators, while commodity currencies such as the Canadian dollar... Read more

Major US banks would withstand recession, says US Fed

Major US banks would withstand recession, says US Fed WASHINGTON June 23 — The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced yesterday. The... Read more



Ringgit eases against US dollar

Ringgit eases against US dollar KUALA LUMPUR, June 23 — The ringgit opened lower against the US dollar today weighed by the weaker crude oil price, dealers said. At 9am, the local unit stood at 4.2870/2900 against the... Read more

Bursa Malaysia opens marginally higher

Bursa Malaysia opens marginally higher KUALA LUMPUR, June 23 — Bursa Malaysia extended yesterday’s gain to open marginally higher today on continued buying support in selected heavyweights led by Hong Leong Bank and... Read more

Oil barrels higher, but equities can’t gain traction

Oil barrels higher, but equities can’t gain traction NEW YORK, June 23 — Oil prices rebounded yesterday, coming off 10-month lows, but the increase did not give much boost to global equity markets. Stock markets in Paris and Frankfurt rose... Read more

Short-term rates to remain stable on BNM intervention

Short-term rates to remain stable on BNM intervention KUALA LUMPUR, June 23 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) intervention to absorb surplus liquidity from the financial system. BNM... Read more


US stocks flat as oil prices stabilise

US stocks flat as oil prices stabilise NEW YORK, United June 22 — US stocks were flat early today as oil prices stabilised while airlines got a boost on news that Qatar Airways is seeking a stake in American Airlines. Oil... Read more

France’s Altice USA rallies in New York market debut

France’s Altice USA rallies in New York market debut NEW YORK, June 22 — Altice USA shares rallied today in their New York market debut after the telecom group controlled by French billionaire Patrick Drahi raised some US$1.9 billion (approx... Read more

Qatar seeks 10pc of American Air, escalating `open skies’ battle

Qatar seeks 10pc of American Air, escalating `open skies’ battle DUBAI, June 22 — Only weeks after President Donald Trump accused Qatar of funding terrorism, the nation’s flagship airline has made a surprise overture to acquire a major stake in... Read more

Boeing wins hot Paris order race

Boeing wins hot Paris order race PARIS, June 22 — Boeing won a red hot race for new business at the Paris Airshow, rolling out a new model of its best-selling 737 airliner that helped it claim back the order crown from... Read more


Our Picks in Money

Picture of the Day

A woman checks shoes on display at a market ahead of the Eid al-Fitr festival, which marks the end of the Muslim fasting month of Ramadan, in Kolkata June 23, 2017. — Reuters pic

A woman checks shoes on display at a market ahead of the Eid al-Fitr festival, which marks the end of the Muslim fasting month of Ramadan, in Kolkata June 23, 2017. — Reuters pic