Thursday, April 4th, 2019

 

Tesla shares slump as US stocks open higher

NEW YORK, April 4 — Wall Street stocks rose early today on continued optimism about US-China trade talks, while Tesla shares slumped following disappointing first-quarter car deliveries. About 15 minutes into trading, the Dow Jones Industrial…


Export woes turn German industrial titans to millstones

BERLIN, April 4 — Germany’s industrial firms flourished in a world that couldn’t get enough of their cars and machine tools, but a global trade slowdown combined with sluggish product upgrades and delays in modernising Europe’s top economy…


Singapore casino resort to get US$3.3b expansion

SINGAPORE, April 4 — A major casino resort on Singapore’s waterfront is to get a US$3.3 billion expansion, including a new tower featuring luxury rooms and a 15,000-seat arena, its owner said. Marina Bay Sands, with its three towers and…


US-China trade talks continue, Trump not expected to announce summit, says official

WASHINGTON, April 4 — The White House is not expected to announce a date today for a trade summit between US President Donald Trump and Chinese President Xi Jinping, a senior administration official said, as negotiators for the two sides launch…


London court orders Djibouti to pay US$385m to DP World

DUBAI, April 4 — A London-based international court has ordered Djibouti to pay US$385 million in compensation to UAE global ports operator DP World over a breach of contract, the Dubai government said today. The London Court of International…


ECB ‘concerned’ at impact of negative rates on banks

FRANKFURT AM MAIN, April 4 — European Central Bank policymakers worry that long-term low interest rates are harming eurozone lenders, minutes of a March meeting released today showed, stoking speculation some relief could be on the way for the…


007 carmaker lashes out at prospect of no-deal Brexit

LONDON, April 4 — The boss of James Bond’s favourite carmaker Aston Martin today said he was “pissed off” at the prospect of a no-deal Brexit. Aston Martin chief executive Andy Palmer was questioned by reporters about whether the luxury…


Canadian home prices increasingly at risk, says IMF

WASHINGTON, April 4 — The risks of a sudden drop in Canadian house prices have risen over the last two years to levels not seen since the financial crisis, the International Monetary Fund said today. The conclusions appeared in a report released…


US ‘clamouring for avocados’ after Trump threat to shut Mexico border

MEXICO CITY, April 3 — US President Donald Trump’s threats to shut the border with Mexico are now affecting what some might argue is the softest spot in bilateral relations – avocados. Fearing that a border lockdown would prevent Mexico from…


Vizione: RM15m was security deposit for Penang Mega Infrastructure project

KUALA LUMPUR: Vizione Holdings Bhd has clarified that the RM15 million reportedly paid out from its wholly owned subsidiary Vizione Construction Sdn Bhd’s account was a security deposit for Package 1 of the Penang Mega Infrastructure (PMI) project, which has been refunded.

It said the money was paid in good faith to a nominee company of Consortium Zenith Construction Sdn Bhd (CZC) in 2017. CZC is the main contractor for the PMI project.

“However, since there was a delay in the Package 1 of the PMI project, the RM15 million security deposit has since been refunded fully by CZC to Vizione Construction in the same year. As a result, Vizione did not suffer any financial impact,” the group said in a statement.

The management of Vizione has denied any knowledge of the case nor the deceiving party.

This was in response to the news carried by local media in a graft probe, pertaining to CZC being deceived into paying RM19 million.

Businessman Datuk Seri G. Gnanaraja pleaded not guilty at the Shah Alam sessions court on Wednesday to three charges of cheating a company director involved in the Penang undersea tunnel project.

He was charged under section 420 of the Penal Code for allegedly cheating CZC executive director Zarul Ahmad Mohd Zulkifli of RM19 million between July and August 2017.

He was said to have misled Zarul into believing that he could help him get the Malaysian Anti-Corruption Commission to drop its money laundering investigations against him.