Category Archives: Production

Reports: ‘FinCEN’ Documents Show Banks Moved Suspect Funds

Several global banks moved large sums of allegedly illicit funds over a period of nearly two decades, despite red flags about the origins of the money, BuzzFeed and other media reported Sunday, citing confidential documents submitted by banks to the U.S. government. The media reports were based on leaked suspicious activity reports (SARs), filed by

US Sanctions Chinese Company Developing Resort in Cambodia

The U.S. Treasury Department has imposed economic sanctions on a Chinese company that operates in Cambodia, citing its land seizure and displacement of families to make way for a $3.8 billion luxury gambling and lifestyle project.   The Dara Sakor Seashore Resort, developed by the Chinese company Union Development Group (UDG) in unspoiled Koh Kong

Joint Statement of the 23rd ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting

Virtual, 18 September 2020 Introduction     We, the Finance Ministers and Central Bank Governors of ASEAN, China, Japan and Korea (ASEAN+3), convened our 23rd meeting under the co-chairmanship of H.E. Dinh Tien Dung, Minister of Finance of the Socialist Republic of Viet Nam, H.E. Le Minh Hung, Governor of the State Bank of Viet Nam, H.E.

Senior Management Changes at MAS

Singapore, 18 September 2020… The Monetary Authority of Singapore (MAS) announced today that Ms Jacqueline Loh will be appointed Deputy Managing Director (Corporate Development), in addition to her current role as Deputy Managing Director (Markets & Development). 2      The current Deputy Managing Director (Corporate Development), Mr Chia Der Jiun, will leave MAS to take up

Joint Statement by Bank Negara Malaysia and Securities Commission Malaysia – Accelerating climate action through the financial sector

The Joint Committee on Climate Change (JC3) held its third meeting on 14 September 2020. The meeting discussed the progress of initiatives under its four sub-committees (namely, Risk Management; Governance and Disclosure; Product and Innovation; and Engagement and Capacity Building), as well as the focus of priorities for the next 12 months. Members affirmed the

Brunei records 1st monthly trade deficit in history

Brunei recorded a 57.8-million-Brunei dollar (42.2-million-U.S. dollar) trade deficit in June 2020 due to a major decrease in exports, marking the first-ever trade deficit since January 2014 when historical data became available. The latest International Merchandise Trade Statistics released on Saturday by the Department of Economic Planning and Statistics at the Ministry of Finance and

Myanmar’s foreign trade reaches over 33.5 bln USD in 11 months of FY 2019-20

The total trade between Myanmar and foreign countries reached over 33.5 billion U.S. dollars in 11 months of the present fiscal year (FY) 2019-2020, according to figures released by the Commerce Ministry on Sunday. From Oct. 1, 2019 to Aug. 28, 2020, Myanmar earned over 15.9 billion U.S. dollars from export while its import shared