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What's important this week?

CNBC
Beijing’s Belt and Road plans could boost the Islamic banking sector

China’s pursuit of Belt and Road Initiative projects in predominantly Islamic countries is expected to spur growth in the Islamic finance sector.
Chinese issuers have, however, recently pulled away due to the complexities involved in rolling out such products, particularly as standards differ across various regulatory regimes, says Mohamed Damak, global head of Islamic finance at S&P Global Ratings.

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Al Jazeera
Malaysian ex-PM Najib's trial postponed by court

A Malaysian court has postponed for a week the biggest of five trials linked to a multibillion-dollar corruption scandal at state fund 1MDB and allegedly involving former Prime Minister Najib Razak.

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Ecns.cn
Ex-official pleads guilty to accepting bribes of 449 mln yuan

Xing Yun, former vice-chairman of the Standing Committee of the People's Congress of Inner Mongolia autonomous region, pleaded guilty to bribery during his first trial on Thursday at a court in Dalian, Liaoning province.

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QUARTZ
The EU is launching a new money-laundering blacklist, after its last one was nixed for naming Saudi Arabia

Shocked by the scale of a €200 billion ($221 billion) money-laundering scandal involving Denmark’s Danske Bank, the European Commission put together a punchy “blacklist” of allegedly dodgy jurisdictions in February, naming four US overseas territories and Saudi Arabia.

REUTERS
South Korea's top court to rule on Samsung heir's bribery case on August 29

South Korea’s Supreme Court is to rule next Thursday on whether to uphold a reduced sentence given to Samsung Group heir Jay Y. Lee or ask an appeals court to revisit a case that was part of a graft scandal that brought down the president in 2017.

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YAHOO NEWS
FBI takes down Nigerian fraudsters in $46M case

The relationship between a Japanese woman and a U.S. Army captain stationed in Syria started online, through an international social network for digital pen pals. It grew into an internet romance over 10 months of daily emails.

It ended with the woman $200,000 poorer and on the verge of bankruptcy after borrowing money from her sister, ex-husband and friends to help Capt. Terry Garcia with his plan to smuggle diamonds out of Syria.

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THE DIPLOMAT
Will Modi Resume the Battle Against Corruption?

Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) secured an astounding victory for a second term in office not long ago. In this lopsided election battle, which was supposed to be fierce, the issue of corruption took a back seat, overshadowed by national security and hardliner Hindu nationalism

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Gulf Today
ADX achieves 97% compliance in disclosure of financial statements

Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 97 per cent regarding the disclosure of the 2nd quarter financial statements 2019 of its listed public joint stock companies, domestic and foreign, within the deadline of 45 days from the end of the financial period.

THE ECONOMIC TIMES
General Electric engaged in 'bigger fraud than Enron': Whistleblower 

A whistleblower has accused General Electric (GE) of hiding massive losses by engaging in a $38 billion accounting fraud, which is "bigger than Enron". 

TODAY
Company director charged with giving S$178,000 in bribes over 7 years

The director of a marine logistics and transportation services firm who allegedly doled out S$178,150 in bribes was charged in court on Thursday (Aug 15) with 40 counts of corruption.

The New York Times
Trudeau, in Trouble in Much of Canada, Still Has Fans in Quebec

When Canadians decide this fall whether to return Prime Minister Justin Trudeau to office, Quebec’s votes will be critical.

XINHUANET
Cyprus dismisses allegations of president's involvement in money laundering

The Cypriot government dismissed as "libelous and devoid of reality" allegations by an organization that President Nicos Anastasiades and his law firm was connected to the so-called Troika Laundromat, a government statement said on Saturday.

The New York Times
Jimmy Kimmel Skit With Fake Emergency Alert Ends in F.C.C. Fine for ABC

Simulated wireless alert tones used in a “Jimmy Kimmel Live” skit making fun of a presidential alert test have cost ABC $395,000 in civil fines with the Federal Communications Commission.

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