Financial Services

Indonesia faces challenge to seizure of yacht wanted by US

Mar 19, 2018

Indonesian police say a luxury yacht seized as part of a U.S. probe into the alleged multibillion-dollar theft of funds from a Malaysian state investment company has not been handed over to the U.S. because of a legal challenge from its owner

Southeast Asian ride-hailing app Grab expands into lending

Mar 13, 2018

Southeast Asian ride hailing app Grab said it is expanding into financial services in partnership with a Japanese credit card company, hoping to offer credit to millions of people without bank accounts

Malaysia raises interest rate for first time in 4 years

Jan 25, 2018

Malaysia's central bank has raised its key interest rate for the first time in four years ahead of general elections due by August

Malaysia launches inquiry over forex losses under Mahathir

Aug 8, 2017

Malaysia's government has launched an inquiry into massive foreign exchange losses by the central bank more than two decades ago, in a probe that could lead to criminal prosecution for former Prime Minister Mahathir Mohamad

Malaysia central bank urged to reopen probe on indebted fund

Aug 3, 2017

Malaysian opposition lawmakers urge the central bank to reopen its investigation into indebted state investment fund 1MDB that is being probed in several countries for money laundering and implicating Prime Minister Najib Razak

Grab builds out war chest in a fight for car-share dominance

Jul 24, 2017

Grab gets another $2 billion in financing, revealing the intense competition among car-share services in Asia that have forced companies like Uber to take a back seat to rivals with extremely deep-pockets.