There's rising fear that China is acquiring control over politics and treasuries of other countries. If Donald Trump can unilaterally change the rules of game for China and Chinese businesses, so can, in his limited sphere, Mahathir. No, there won't be any announcement on politics. The fans are meeting because it has been a long time, said Rajinikanth. In the conference, Modi also praised Razak, saying under his leadership Malaysia is moving towards its goal of achieving developed country status by Najib said the government had approved the establishment of six new Tamil primary schools, in addition to the such existing schools in the country.
The rally was organised by members of Umno in response to a two-day massive anti-government gathering last month calling for Najib's resignation over the financial scandal. Have you read these stories? China's President Xi Jinping and U. President Joe Biden will hold a virtual summit on Tuesday morning, the Chinese foreign ministry ET NOW.
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Wealth Wise Series How they can help in wealth creation. Asked if he would contest the next elections due by , he said: "Any politician who would want to play a role would want a seat in parliament. Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
More from Reuters. Najib denies all wrongdoing and says he was misled by financial advisers - in particular fugitive financier Jho Low. Jho Low has been charged in both the US and Malaysia, but also maintains his innocence. Najib's defence team argued he was led to believe the funds in his accounts were donated by the Saudi royal family - rather than misappropriated from the state fund.
The charges carried as much as 15 to 20 years in prison each. Sovereign wealth funds are government-owned investment funds that are used to boost a country's economic development.
Built with state earnings, such as revenues from oil resources and exports, they have extraordinary flows of cash to invest and potentially enormous international clout. In , questions were raised around 1MBD's activities after it missed payments owed to banks and bondholders. The missing money has been linked to luxury real estate, a private jet, Van Gogh and Monet artworks - and even a Hollywood blockbuster, the Wolf of Wall Street.
Since his dramatic election defeat two years ago, the first for his party in 60 years - and the humiliation of seeing luxury items wheeled from his home in shopping trolleys by the police - Najib Razak has enjoyed something of a political resurrection. Still a very powerful figure within UMNO, the former ruling party, he has successfully posed as a champion of ethnic Malays, many of whom became disillusioned with the reformist coalition which replaced him.
When that coalition collapsed in February, and UMNO joined a new government, Najib expressed confidence that the series of trials would go his way. This first criminal conviction of such a senior political figure must now hurt his standing within UMNO, and will improve the public standing of Prime Minister Muhyiddin Yassin - once a close colleague and stalwart of UMNO who was fired in over his objections to the 1MDB scandal.
He now leads a fragile coalition with a wafer-thin parliamentary majority, pushing Malaysia into uncharacteristically choppy political waters.
The former prime minister was cleared of all allegations by Malaysian authorities while he was still in office.
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