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On Monday, U.S. international banking giant Goldman Sachs (G.S.) said that it would resume negotiations with the Malaysian government this week to hammer out a multi-billion dollar financial settlement lost in a scandal at sovereign fund 1Malaysian Development Bhd (1MDB).
Goldman Sachs's top-level executives and members of its legal team arrived on Saturday (July 18) after obtaining special Malaysian government approval in light of the strict coronavirus travel restrictions.
"The prospects of getting a settlement are strong after both sides have agreed on key parameters in recent weeks that are needed to move forward," a government official from 1Malaysia said in an interview.
According to some government sources, Finance Minister Tengku Zafrul Aziz actively engaged with the officials from the U.S. Department of Justice (DOJ) and Goldman Sachs to iron out issues in the asset recovery negotiations.
Attorney-General Idrus Harun would lead the 1MDB recovery campaign.
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...
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