Salvadoran police arrested more than a hundred Colombians for their alleged involvement in operating a microfinancing scheme that laundered money from drug running and gang activities, security officials said on Monday.
China's CITIC Securities plans to move dozens of bankers from its offshore platform CLSA in Hong Kong to the mainland to cut costs and meet Beijing's call to bridge income inequality in the financial sector, people with knowledge of the matter said.
Singapore could turn a governance crisis into an opportunity. Its transport minister S. Iswaran and Ong Beng Seng, the property billionaire credited with bringing Formula One to the city, were arrested and released on bail last week. The rare high-profile probe involving a public official by the hub’s anti-graft agency is a timely test of the Asian centre’s willingness to act tough on corruption.
Morgan Stanley's profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment.