China, Malaysia to push forward bilateral ties

Malaysian Prime Minister Mahathir Mohamad is seeking to renegotiate, and perhaps cancel, billions of dollars worth of Chinese-invested projects entangled in domestic graft probes. (Reuters)
Updated 20 August 2018
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China, Malaysia to push forward bilateral ties

  • Mahathir Mohamad is seeking to renegotiate, and perhaps cancel, billions of dollars worth of Chinese-invested projects entangled in domestic graft probes
  • Ties have been strained since a stunning election victory returned Mahathir to power in May
BEIJING: China’s Premier Li Keqiang said on Monday his government is willing to promote bilateral ties and economic cooperation with Malaysia as Malaysian Prime Minister Mahathir Mohamad visited China to discuss trade and investment.
The agreements reached on Mahathir’s trip showed the two countries would remain friendly in the long term, Li told a joint news conference at Beijing’s Great Hall of the People.
Mahathir is seeking to renegotiate, and perhaps cancel, billions of dollars worth of Chinese-invested projects entangled in domestic graft probes.
Ties have been strained since a stunning election victory returned Mahathir to power in May and he then suspended unpopular Chinese projects authorized by former premier Najib Razak.
Najib courted Chinese investment and was a cheerleader for President Xi Jinping’s signature Belt and Road Initiative in Southeast Asia during his decade-long rule.
However, Mahathir has vowed to discuss the “unfair” deals on his visit.
The Malaysian premier said his trip had been fruitful and that he believed China would look sympathetically toward the problems both sides have to resolve.
Addressing Mahathir directly, Li asked if he believed they had consensus on upholding free trade.
“I agree with you that free trade should be the way to go but of course free trade should also be fair trade,” Mahathir said.
“We should always remember that the level of development of countries are not all the same. We do not want a situation where there is a new version of colonialism happening because poor countries are unable to compete with rich countries,” he said.


Deutsche Bank appoints Riyadh GM

Updated 18 September 2018
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Deutsche Bank appoints Riyadh GM

  • German banking titan expects more deal flow from Kingdom
  • Deutsche Bank established base in Saudi Arabia in 2006

LONDON: Deutsche Bank has appointed Mohammed Alajmi as general manager of Deutsche Bank Riyadh Branch in Saudi Arabia.
He will have oversight of the bank’s business regulated by the Saudi Arabian Monetary Authority (SAMA), Deutsche Bank said in a statement.
The German banking giant originally established its Riyadh branch in 2006.
Alajmi joined Deutsche Bank in 2012 after more than a decade of working at local financial institutions in the Kingdom.
He was appointed chief operating officer in June 2015 overseeing the bank’s activities across all businesses and infrastructure functions.
The group expects to boost regional hiring this year, driven by expected corporate bond sales and initial public offerings, Bloomberg reported in February.