PETRONAS units in Luxembourg seized again in RM66bil arbitration dispute

KUALA LUMPUR: Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm PETRONAS this week, following a bid by descendants of a former sultanate to enforce a US$15bil (RM66bil) award they had won against Malaysia, according to the heirs’ lawyer and court documents seen by Reuters. Read full story

Asian Monetary Fund – an unrealised dream

THE other day, Prime Minister Anwar Ibrahim revisited the idea of the Asian Monetary Fund (AMF), Japan’s inspiration to combat the 1997 financial crisis in the region. He proposed a strengthening of non-US-centric regional monetary cooperation to buffer against such crises.

Michael Jordan donates US$10 million to nonprofit

BASKETBALL great Michael Jordan will make a record-breaking US$10 million (RM43.8 million) donation to the Make-A-Wish foundation to mark his 60th birthday later this week, a statement said yesterday. Jordan’s donation to Make-A-Wish, which aims to fulfil the wishes of children aged between two and 18 battling critical illness, is the largest in the Arizona-based […]