Wealths

Kuwait bank seeks talks to create Islamic lender with RM371.7b in assets

Lower oil prices over the past 4 years are forcing Gulf lenders to unite for scale and to better compete in a crowded market
Dubai • Kuwait Finance ...

Jeff Bezos becomes the richest man in modern history, topping RM606b

New York • Jeff Bezos is the richest person in modern history.
The Amazon.com Inc founder’s net worth cracked US$150 billion (RM606 billion) in New ...

Bonuses soar for Australia CEOs as workers struggle for pay

Sydney • Surging bonus payments have pushed pay for Australia’s CEOs to a record high, at the same time stagnant wage growth prevents the bulk of the ...

Temasek expands US footprint with a wary eye

New York • Temasek Holdings Pte Ltd is developing an American accent. The Singaporean state investor, whose S$308 billion (RM913.04 billion) portfolio ...

Sorrell wins support of hedge fund Odey

Odey’s financial support for Sorrell is contingent on an acquisition that’s in the works
London • Martin Sorrell (picture) has won financial backing ...

Deutsche Bank fight to collect RM1.3b from Vik drags on

London • Deutsche Bank AG has been trying to collect hundreds of millions from Norwegian billionaire Alexander Vik since he lost an US$8 billion (RM32.4 ...

Rising oil cuts Gulf Arab energy borrowings to 2014 level

Dubai • Gulf Arab energy companies retreated from debt markets in the first half of 2018 (1H18) after a banner year for borrowing as higher oil prices ...
Starbucks Corp chairman Howard Schultz

Schultz to depart Starbucks, weighs a role in public service

Schultz, who helped Starbucks grow from 11 stores to more than 28,000 in 77 countries, will become chairman emeritus on June 26
Chicago • Starbucks ...
Thomas Flohr

‘Lunatic’ Swiss billionaire Flohr disrupts private-jet biz

New York • Thomas Flohr (picture) amassed a US$2 billion (RM7.96 billion) fortune by flying the global elite wherever they need to go. His VistaJet Group ...

Xiaomi’s IPO will make dozens of lucky workers millionaires

Their stake in the company may soon be worth RM4b to RM11.9b, depending on the stock sale
Hong Kong • Eight years ago, before China’s Xiaomi Corp had ...

Nordic wind profit rises, after averting ‘green bloodbath’

Stockholm • About a year ago, the Nordic region’s biggest lender warned of a “green bloodbath” among wind companies. Now, developers are discussing new ...

China trade truce may help give US LNG RM119.1b boost

New York • China’s appetite for US liquefied natural gas (LNG) may be about to get a lot bigger after the two nations agreed to pull back from the brink of ...