Finance

Malaysian authorities filed criminal charges against Goldman Sachs on Monday, alleging the Wall Street bank was involved in a conspiracy to launder $2.7 billion from an investment fund. The charges escalate the legal troubles facing Goldman Sachs. U.S. authorities have already filed criminal charges against former Goldman Sachs employees, but this is the first time the New York bank has been directly blamed for wrongdoing. “Having held themselves out as the pre-eminent global adviser ... the highest standards are expected of Goldman Sachs. They have fallen far short of any standard,” Malaysian Attorney General Tommy Thomas said in a statement. Goldman Sachs has said it is cooperating with the investigations and denied wrongdoing. “We believe these charges are misdirected and we wi...

With the excesses of festive season spending behind you, the New Year represents the perfect opportunity to whip your finances back into shape, beginning by implementing these seven simple money-saving tips from Citadel Advisory Partner Daryl Coker. 1. Set your financial goal January is thus the perfect time to reflect on your accomplishments during 2018, and set new financial goals for the year ahead. These may include paying off debts, saving towards a deposit on a home, or even revving up your retirement savings. 2. Reassess your budget "Many people diet in January because they put on a little too much weight during the holidays and are trying to get their life back in order, and budgeting is similarly an important exercise for trimming the fat from your finances," said Coker. ...

After his arrest, Nissan removed Carlos Ghosn as chairman due to his suspected acts of financial  just the latest in a long line of mishaps to rock the Japanese corporate world. Other manufacturers, such as Kobe Steel, Takeda and Toray Industries, have shocked the public in recent years, admitting to violating safety rules or falsifying data. But the scandals are not only a shock to Japanese consumers — they leave a mark on Japan`s reputation as a reliable and quality-oriented manufacturer and business partner. Japanese corporate structures offer some explanations for the events. In most Western companies, employees are hired with a detailed work contract, and only do what's agreed on in the contract. In Japan, employees are hired with no job description, and can be assigned any task...

Alibaba Group Holding Ltd said on Dec 5 it has signed an agreement with the Belgium government to launch an e-commerce trade hub, which will include investments in logistics infrastructure. The project is part of Alibaba's Electronic World Trade Platform (eWTP) and the company has made similar agreements in South-East Asia and Africa. Alibaba's logistics arm, Cainiao, will lease a 220,000 square meter logistics hub at Belgium's Liege airport as part of the deal and invest an initial €75mil (RM353.25mil) in the project.

Malaysia's e-commerce is on a growth trajectory and has already started benefiting the country following the full implementation of 13 key programmes under the National eCommerce Strategic Roadmap's (NeSR) six thrust areas. International Trade and Industry Minister Darrell Leiking said e-commerce value added and contribution to the gross domestic product in Malaysia continuously improved over a period of seven years to RM85.8 billion in 2017 from RM37.7 billion in 2010, with an average annual growth rate of 12.5 per cent. “While the annual percentage change for the period 2015 to 2016 was just 9.9 per cent, 2017 saw a remarkable jump to 14.3 per cent as a result of the nation's efforts in strengthening the e-commerce industry. “The National eCommerce Council (NeCC) headed by both ...

JUST the thought of retirement can cause anxiety and many to feel overwhelmed. A recent global survey showed that 88% of pre-retirees in Malaysia stated they are worried about not having enough money to live on day-to-day at retirement and that goes to show how unprepared some of us are. No matter how difficult it is, we still must face the music. Retirement planning is one of the most important financial goals one will undertake and the stakes couldn’t be higher. Just a couple of missteps can change your joyful golden years to poverty, dependence and penny-pinching years. One of the key to success is to avoid obvious retirement planning mistakes. You need to get it right the first time because there is no second chance once you hit retirement. So, let’s look at the mistakes that ...