Bloomberg Malaysia’s anti-graft agency will summon former premier Muhyiddin Yassin and two ex-cabinet ministers who served in his administration for the alleged misappropriation of 600 billion ringgit ($136 billion) of public funds for tackling the pandemic. The other two are former health minister Khairy Jamaluddin and ex-finance minister Zafrul Aziz, who now heads the international trade and industry ministry in ...

Bloomberg Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) won a landslide election in his home turf Gujarat, showing his appeal with voters remains intact despite higher living costs. The victory in the western state of Gujarat will help the 72-year-old leader build momentum for national elections due in less than 18 months. Modi is looking to extend his ...

  Bloomberg South Africa’s main opposition parties want President Cyril Ramaphosa to be subjected to impeachment proceedings after an advisory panel found he may have breached the constitution, leaving him reliant on the governing ANC to shield him from a parliamentary probe. The panel headed by Sandile Ngcobo, a former chief justice, issued a scathing assessment of Ramaphosa’s handling of ...

Bloomberg The US is set to pass legislation ramping up weapons sales to Taiwan and restricting government use of Chinese semiconductors, strengthening the White House’s hand while excluding measures considered most objectionable to Beijing. Language in the must-pass annual defense legislation reflects how lawmakers on both sides of the aisle have shown a growing willingness to confront China, despite White ...

  Bloomberg Croatia won the EU’s endorsement to join the region’s visa-free travel area while Bulgaria and Romania’s bid was delayed. EU home affairs ministers agreed in Brussels that Croatia should be allowed to join the so-called Schengen area on January 1. This means the country will no longer be bound by the bloc’s internal border controls and paves the ...

Bloomberg Citigroup Inc is seeing countries around the world roll into recessionary environments, with the US economy on track to follow them in the second half of next year, said Chief Executive Officer Jane Fraser. The New York-based bank is worried in particular about Europe, which Fraser said has already entered a recession. It may take years for countries across ...

  Bloomberg The yuan rally spurred by China’s reopening optimism is set to face a reality check as doubts grow on whether any economic rebound will match the currency’s rapid gains. The yuan wiped out nearly a third of its yearly loss last month before surging past the key 7 per dollar level. Its appreciation beyond 6.95 would suggest the ...

  Bloomberg Australia is keeping an open mind on a central bank digital currency, a senior Reserve Bank official said, while adding it remains to be convinced there’s a case for one in a country with easy financial and cash access. RBA Assistant Governor Brad Jones laid out the pros and cons of a CBDC in a speech in Sydney, ...

  Bloomberg European equities extended a four-day slide as optimism over a potential downshift in the Federal Reserve rates hikes deflates in the face of economic headwinds. The Stoxx Europe 600 slipped 0.2%, with property firms and banks pacing declines. Contracts on the S&P 500 steadied to trade little changed after the underlying benchmark posted the longest stretch of down ...

Bloomberg Shares of a small Japanese green-technology firm have more than tripled in less than half a year on investor bets that microwaves will play a major role helping manufacturers reduce carbon emissions. Microwave Chemical Co. has jumped 268% since it listed in June, with its market value touching a high of about $300 million. Most of the gains have ...