The US Department of Justice on Tuesday (local time) said it has repatriated approximately USD 300 million (RM 1.292 billion) to Malaysia in additional funds misappropriated from 1Malaysia Development Berhad (MDB), the Asian country's investment development fund.The government of former Prime Minister Najib Razak set up the 1MDB fund in 2009 to promote economic development in Malaysia through global partnerships and foreign direct investment.The Justice Department estimated that some USD 4.5 billion was siphoned out of Malaysia by high-level fund officials and their associates between 2009 and 2014 in a scandal that called for Razak's resignation -- including Mahathir Mohamad, one of the former's predecessors.The funds were laundered through financial institutions in several jurisdictions, including the United States, Switzerland, Singapore and Luxembourg."We are pleased to make this latest repatriation of an additional USD 300 million in stolen 1MDB funds," Assistant Attorney General

The gains were driven by banking shares after China's big four lenders reported higher profits for the first quarter despite the impact of the pandemic.

Total 21 issues of 33 industry category of Topix index were in negative territory, with Air Transportation, Insurance, Land Transportation, Iron & Steel, Nonferrous Metals, and Oil & Coal Products issues being notable losers, while Other Products, Electric Appliances, Metal Products, Construction, and Pharmaceutical issues were notable gainers.

Mutual fund CEOs highlight the lack of level playing field vis-a-vis other asset classes while adding that technology will improve penetration and bring in efficiencies

While fundamentals are important, getting the management quality right is more so as mistakes on this count can be costly, says Vinit Sambre of DSP BlackRock Mutual Fund

Solar cell manufacturer First Solar is looking to setup a manufacturing unit with an investment of Rs 6,000 cr

The government of India (GoI) has announced the sale (re-issue) of three dated securities for Rs 19000 crore. These include 6.18% GS 2024 9,000, 7.57% GS 2033 4,000 and 7.16% GS 2050 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be price based (for all securities), using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

In his opening remarks, the Governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.

Mr Nitin Gadkari, Minister of Road Transport and Highways and MSME, Govt of India said that government is likely to announce a relief package for the MSME sector soon. He further said that all stakeholders must adopt an integrated approach to come over the crisis while ensuring the lives and livelihood of the people. Mr Gadkari also urged the industry to have a positive attitude during this time to tide over this crisis. "We will win the fight against corona along with the economic crisis and make India the superpower nation. Hum honge kamyab," said Mr Gadkari.

The government of India (GoI) has announced the sale (issue /re-issue) of three dated securities for Rs 19000 crore. These include 5.09% GS 2022 3,000 May 08, 2020, New GS 2030 (maturing on May 11, 2030) 10,000 and 7.19% GS 2060 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be Yield based for New GS 2030 and price based for remaining securities using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Union Minister for MSME and Road Transport and Highways, Nitin Gadkari informed that a policy on imports substitution is being thought of in the wake of the new economic situation created by COVID-19 pandemic. He called upon various stake-holders to convert knowledge into wealth by improving quality through innovations and cutting down cost. He sited the example of a Nagpur based MSME Orange cluster taking up PPE making from scratch. These PPEs cost between Rs 550 to Rs 650 against the market price of about Rs 1200 for which country was heavily import dependent. The cluster is in a position to supply large quantity of PPEs.

Sales rise 27.54% to Rs 13.20 crore

Sales rise 6.60% to Rs 209.26 crore

The company has now received demand notice for the further period i.e. 2013-14 from the Commercial Tax Department, Karnataka aggregating to Rs. 85.19 crores (including interest & penalty) by treating the stock transfers of its Mangalore Plant as interstate sales to dealers.

Rain and power cuts hits polling in southern districts

This is for the first time since MGR's death in 1987 that a party will return to power for a second straight term in Tamil Nadu

She is likely to be sworn in as chief minister for a second consecutive term on May 23

28 others, including her trusted lieutenant and Finance Minister in outgoing Cabinet O Panneerselvam, to also take oath

Railway authorities termed listing of these companies as a 'shocker'

California is the first state to borrow federal funds to cover rising jobless claims, United Airlines expects to cut its management ranks by 30%, and the FDA sets standards for antibody tests in a crackdown on fraud. WSJ’s Jason Bellini has the latest on the pandemic. Photo: Rich Pedroncelli/Associated Press

Nepal police on Friday arrested 45 Chinese nationals stranded in the country because of coronavirus restrictions after a protest turned violent, authorities said. Holding placards such as "I want to go home!" they attempted to push towards a prohibited zone near the prime minister's office in Kathmandu. Some police as well as demonstrators were injured after police used batons to stop them and the protesters threw stones. "They may face charges of protesting in the restricted zone and violating the lockdown under existing laws," police spokeswoman Kiran Bajracharya told AFP. Nepal suspended international flights on March 22 as part of precautionary measures against the spread of the coronavirus, and remain so until at least May 31. While several countries, including the US, the UK, Australia and France have chartered evacuation flights for their citizens in Nepal, no official flights have been made to rescue stranded Chinese nationals.

Barcelona returned to training after the La Liga champions allowed their stars to enter their facility to prepare for a potential restart to football in Spain. Lionel Messi and company took the fields at Joan Gamper training centre for individual sessions, for which the players arrived alone in kit and took to the three pitches without passing through the changing rooms. As well as doing their routines, they were also subjected to tests to see what effect two months of coronavirus quarantine has had on their bodies. "Finally we are getting back to normal. We hope to carry on and that soon we can get back to enjoying what we like to do most," Arturo Vidal told sports daily Marca. Sevilla, Villarreal, Osasuna and Leganes also returned to training, while Real Madrid -- who were two points behind league leaders Barca when play stopped in mid-March -- will likely start again on Monday should their players pass virus tests carried out on Wednesday. That would mark almost two months since ...

American stock car auto racing's comeback later this month from the coronavirus pandemic will cost three tracks their 2020 season races with more schedule adjustments coming soon. That was the word Friday from the National Association for Stock Car Auto Racing (NASCAR), the closed-cockpit series that is the most popular form of US auto racing. Races at Sonoma, California; Joliet, Illinois and Richmond, Virginia were named those moved to ovals without spectators this month to jumpstart the US revival of sport in the wake of the coronavirus pandemic shutdown. Sonoma Raceway officials said the road course tried to find a new date to replace June 14 but couldn't "given the ongoing uncertainty around large events in California." It will be staged instead on May 27 at Charlotte Motor Speedway, which will host a regularly scheduled race three days earlier in what will essentially be made-for-television events. A planned June 21 race at Chicagoland will be the May 17 comeback event at ...

Filmmaker Mike Flanagan is set to tackle the film adaptation of yet another book from celebrated author Stephen King. Flanagan, who previously helmed the film version of King's novel"Doctor Sleep", is now adapting a scrip from the author's 2014 book "Revival". The filmmaker also has the option to direct the movie, according to The Hollywood Reporter. The project has been set up at Warner Bros and will be produced by Flanagan and Trevor Macy through their banner Intrepid Pictures. "Revival" centres around the relationship between a heroin-addicted musician and a dubious faith healer with a hidden agenda. The minister is obsessed with trying to find a way to communicate with his departed wife and child but ends up connecting to a Lovecraftian horror. Flanagan and Macy have earlier teamed for the 2017 adaptation of King's novel "Gerald's Game", which released on Netflix. They also collaborated on the 2018 Netflix series "The Haunting of Hill House".

Roy Horn of Siegfried & Roy, the duo whose extraordinary magic tricks astonished millions until Horn was critically injured in 2003 by one of the act's famed white tigers, has died. He was 75. Horn died of complications from the coronavirus on Friday in a Las Vegas hospital, according to a statement released by publicist Dave Kirvin. Today, the world has lost one of the greats of magic, but I have lost my best friend, Siegfried Fischbacher said in the statement. From the moment we met, I knew Roy and I, together, would change the world. There could be no Siegfried without Roy, and no Roy without Siegfried. He was injured in October 2003 when a tiger named Montecore attacked him on stage at the Mirage hotel-casino in Las Vegas. He had severe neck injuries, lost a lot of blood and later suffered a stroke. He underwent lengthy rehabilitation, but the attack ended the long-running Las Vegas Strip production. The darker-haired of the flashy duo, Horn was credited with the idea of ...

Australia's Super Rugby competition is planning for an early July return, a spokesman said Saturday, after the coronavirus outbreak derailed the season and sparked turmoil within the sport's cash-strapped governing body. Rugby Australia's board suffered another tumultuous week with new director Peter Wiggs -- who had been tipped to take over the chairman's role -- quitting after just five weeks in the job. His departure followed the resignation last month of chief executive Raelene Castle after pressure from the board and a simmering financial crisis. Clubs are set to begin training in the coming days under strict health regulations aimed at preventing the spread of COVID-19 among players, a spokesman said on Saturday. "We do not have a confirmed date for the resumption of Super Rugby in Australia, however early July presents a best case scenario," he added. This year's Super Rugby competition saw seven rounds played before the pandemic forced a stop to the season in March. The ...

Over 360 Kashmiri students stranded in parts of Madhya Pradesh due to the lockdown will be sent back to their native places in air-conditioned buses from Bhopal on Saturday, an official said. As many as 365 Kashmiri students stuck in different districts of the state will return home in 18 AC buses from Bhopal, a public relations department official said. The students are currently accommodated in a private school in Gandhinagar locality of Bhopal, he said, adding that they will leave at around 2 pm on Saturday. District collector Tarun Pithode and other officials visited the private school on Friday night to take stock of the arrangements there. Sources said that another group of Kashmiri students will also leave from Indore. Congress leader Digvijaya Singh had recently written a letter to Union Home Minister Amit Shah, requesting him to make necessary arrangements for the nearly 400 Kashmiri students stuck in the state. He had said that as Jammu and Kashmir is under the .

As many as 359 people arrived here early from Dubai in two Air India flights as part of the government's Vande Bharat Mission to bring home Indian nationals stranded in various countries. Among the passengers was a Madurai based woman whose husband died in Dubai. The body was also brought in the aircraft and she headed to the southern temple town on road from here with her spouse's body. While the first flight saw arrival of 182 people -151 men, 28 women and 3 children- there were 177 people in the second aircraft (138 men and 39 women) and the flights arrived in the wee hours of today, airport officials and Greater Chennai Corporation said. The stranded people hail from Tamil Nadu and they were working in the United Arab Emirates. On Friday night, a flight from Kuala Lumpur in Malaysia arrived at Tiruchirappalli airport with about 200 passengers. On their arrival, nasal and throat swab samples were taken for coronavirus testing at the specially set up COVID-19 kiosks at

The Karnataka government may not extend the daily working hours from 8 to 12, with Labour Minister A Shivaram Hebbar saying on Saturday that the move would neither benefit the industries nor workers. Hebbar told PTI that the proposal has not been discussed and it may come for final deliberations next week. He also noted that some States have already extended the working hours. More than extending working hours, there should be employment to be given. If there are no jobs what can be done by extending working hours? If it is done (working hours extended to 12 hours), it would not neither benefit workers nor industries. Let's see what happens, he said. Asked if the government was in favour of the extension, he said, "I don't think it will be ready for the (12 hour) proposal." Meanwhile, the Minister also said that their top priority now was to see that all MSMEs start operating again, salaries are paid to employees and there are no job losses for any reason. If industries ...

Thirty Six new COVID-19 positive cases have been confirmed in Karnataka, taking the total number of infections in the state to 789, health department said on Saturday. "36 new positive cases have been reported from last evening to this noon....Till date 789 COVID-19 positive cases have been confirmed. This includes 30 deaths and 379 discharges," the department said in its mid day situation report. The 36 new cases include- 12 from Bengaluru urban, seven from Bhatkal in Uttara Kannada, five from Davangere, three each from- Bantawal in Dakshina Kannada, Chitradurga and Bidar, and one each from Tumakuru, Davangere and Vijayapura. While most cases are contacts of patients already tested positive, three are with travel history to Ahmedabad, two are from a containment zone in Bengaluru, and one person's contact is under tracing.

The Karnataka government has announced one-time financial relief of Rs 5,000 each to over 11,000 cobbler families in the state, whose daily life was affected by the COVID-19 induced lockdown. According to Deputy Chief Minister Govind Karjol, Chief Minister B S Yediyurappa has announced one time financial relief of Rs 5,000 for each of these families. "Due to COVID-19 lockdown about 11,722 families involved in road side leather work, like mending chappals and shoes, are in financial distress and their daily life has been affected," he said on Friday. The compensation will be distributed to beneficiaries through Babu Jagjivan Ram Leather Industries Corporation, Karjol, who is also in-charge of Social Welfare department, said. A delegation of opposition leaders led by the leader of opposition Siddaramaiah had met Chief Minister Yediyurappa yesterday and demanded that people belonging to sections like goldsmiths, carpenters, cobblers, tailors and ironsmiths be considered ...

In the wake of the death of 16 workers from Madhya Pradesh in a train accident in Maharashtra on Friday, MP Chief Minister Shivraj Singh Chouhan on Saturday urged the stranded migrants to be patient as his government was making arrangement for their safe return to the state. He also asked them not to risk their lives by undertaking return journey on foot. Sixteen migrant workers- part of a group of 20 headed towards villages in Madhya Pradesh and who were resting on the tracks, were crushed to death by a goods train in Aurangabad district in the early hours of Friday. According to police, they had left Jalna around 7 on Thursday evening and decided to rest on the tracks after walking for about 36 km. In a video statement, Chouhan said, "The migrant labourers should be patient and avoid return journey on foot as the state government has made arrangements to bring them back." "Eleven trains carrying people from other states have already reached Madhya Pradesh and 10 more ...

Migrant workers returning from Rajkot to Ballia on a special train on Saturday claimed that Gujarat Police charged them Rs 725 fare. Authorities here, however, said they had no information about it. The train carrying 1,170 migrant workers from parts of UP reached Ballia in the morning, following which they were screened and provided food packets, District Magistrate Hari Pratap Shahi said. "The migrants were then sent to their states. As many as 420 are from Ballia, while rest of them are from Prayagraj, Fatehpur, Hardoi, Maharajganj, Kushingar, Etawah and other districts," he said. Some passengers claimed that they had to pay Rs 725 train fare to Gujarat Police, the district magistrate said, adding that he had no information on this.

In times of crisis, journalists should be more responsible and work for welfare of people and strengthening unity in society, RSS joint general secretary Manmohan Vaidya said on Saturday as the country battled against the coronavirus pandemic. Speaking on the occasion of Narad Muni Jayanti via video-conferencing, Vaidya said journalists while doing reporting should always keep welfare of society in their mind. And many journalists in the country do so. According to Hindu mythology, Narad Muni is a travelling storyteller and primary source of information among Gods. Expressing concern that a specific type of India's image is being painted in a section of the international media which is far away from ground reality, Vaidya said it was being done by some Indian journalists and they should keep the country's interests in mind while reporting. He further said that at the time when the country was facing the COVID-19 pandemic, journalists should be more responsible, working for welfare of .

The Congress on Saturday said there was "confusion" within the central government in its fight against the novel coronavirus and wondered how would India tackle the pandemic if officials continued to speak in different voices. Referring to "differing" comments made by some officials on the COVID-19 situation in the country, Congress senior spokesperson Ajay Maken said the government should tell the people clearly about the exact state of the pandemic to enable them to prepare accordingly. He also came down heavily on the Arvind Kejriwal-led government in Delhi and asked it to be more transparent in reporting cases of the novel coronavirus. His comments came as confusion prevailed over the number of deaths due to the coronavirus in the national capital, with data from four hospitals showing that 92 people succumbed to the infection as against 68 fatalities reported by the Delhi government. He said it was a "matter of shame" that the national capital was witnessing "a sorry state of ...

The "government" was responsible for the death of 16 migrant labourers who were mown down by a goods train in Maharashtra's Aurangabad district, Shiv Sena mouthpiece 'Saamana' said in its editorial on Saturday. The newspaper, however, did not make it clear whether it blamed the BJP-led Centre or the Sena-led Maharashtra government for the tragedy. "The government did not think of allowing them to go back to their native place, nor did it make arrangements for their food," the editorial said, adding that the authorities should have taken into consideration the problems of the poor before enforcing lockdown on account of coronavirus. The sight of 'rotis' strewn on the railway track where the migrants -- who had fallen asleep due to exhaustion while on their way to Madhya Pradesh -- were crushed to death showed a heart-wrenching and harsh reality, Samanaa said. "The labourers were in fine health and had no symptoms of coronavirus and still they died. The responsibility of ...

The West Bengal government on Saturday said it had brought back around 6,000 residents stranded outside the state and ensured safe return of people of other states stuck here due to the lockdown, virtually refuting the claims of non-cooperation made by Union Home Minister Amit Shah. The state government is doing its best to ensure that migrant labourers -- those stranded in Bengal and also the state's people stuck outside -- return home, West Bengal Home Secretary Alapan Bandopadhyay said. Bandopadhyay said so far around 6,000 people, including migrant labourers, pilgrims and students of Bengal, stranded in other states have come back. "We have also issued 18,000 passes to small trucks so that those stuck in West Bengal can return to their states," he said. He, however, declined to comment on the letter sent by Shah to Chief Minister Mamata Banerjee on the issue of migrant labourers and said it is not his subject to comment on. Shah has said the West Bengal government is not allowing .

Over 1 lakh migrant workers from Uttar Pradesh stranded in different parts of the country following the coronavirus-induced lockdown will return to the state by Saturday night on 114 trains, a senior government official said. Another 98 trains will reach the state on Sunday and Monday, while talks are on to allow 15 to 20 more, he said on Saturday. "Till Saturday morning, 97 trains have reached the state and another 17 will reach by the evening. With this, more than 1.20 lakh migrant workers and labourers will be back in the state," Additional Chief Secretary, Home, Awanish Awasthi said. These trains arrived at 36 railway stations of the state, with Lucknow and Gorakhpur receiving 11 trains each, he said. Awasthi said Chief Minister Yogi Adityanath has stressed that no migrant should undertake the journey home on foot or bicycle. The government has also given permission for 98 more trains which will bring back migrants from other parts of the country on Sunday and Monday, he said, ...

The Karnataka government has allowed garment units in red zone districts, but outside containment zones, to resume operations with one third of the workforce. Chief Secretary T M Vijay Bhaskar in the May 8 order, said all recognised garment factories having an Importer- Exporter Code (IEC) and those registered with the Apparel Export Promotion Council (AEPC) can start operations with one third of the total workforce in red zone districts, but outside containment zones. It said the permission is subject to following of the Standard Operating Procedures. Currently Bengaluru urban, Bengaluru rural and Mysuru are the red zone districts in the state. The government had recently allowed certain industrial activities other than in the containment zones to operate, while relaxing the COVID-19 induced lockdown in the state. During the earlier phases of lockdown, only those garments involved in the manufacture of Personal Protective Equipment (PPE) kits for front line COVID ...

The Arunachal Pradesh government has made institutional quarantine for a period of 14 days mandatory for people returning to Arunachal Pradesh from across the country, a senior minister said on Saturday. Among the returnees, students will also have to go into institutional quarantine for the same duration, he said. Earlier a group of six students, lodged in a quarantine centre, was allowed to go home after five days when their swab samples had tested negative. People are coming back after the Centre allowed those stranded across the country in view of the lockdown to return to their respective states. The state cabinet headed by Chief Minister Pema Khandu at a meeting also decided to make RT-PCR test for detection of COVID-19 compulsory for the returnees, including the asymptomatic ones, state Home minister Bamang Felix told reporters here on Saturday. "We have decided to segregate returnees on the basis of green, orange and red zones and make arrangements ...

A youth was arrested in connection with the rape of a 15-year-old girl in Muzaffarnagar's Kidwai Nagar on Saturday, police said. He was arrested after almost four months of the incident. Police said the girl was raped by the accused, identified as Nadeem, on January 16. He has been on the run since then, they said.

In a bright sign for resumption of economic activities amid the Covid-led lockdown across the country, the migrant workers, who left various states for their native places amid the shutdown, have begun expressing willingness to return to work, indicate developments in Haryana. Haryana Home Minister Anil Vij on Saturday said over 1.5 lakh migrant workers have applied on government portal, expressing their willingness to return back to work in the state. Vij said most of these 1.5 lakh workers, who have registered themselves to return, belong to Bihar, Uttar Pradesh and Madhya Pradesh. He also said on the same portal nearly 8 lakh migrant workers, however, have registered themselves for leaving the state. Nearly 1.5 lakh migrant workers want to return to Haryana while 8 lakh of them have registered themselves for leaving the state for their native states, Vij said. Most of the 1.5 lakh who want to come back are from Bihar, UP and MP. They want to come here as commercial activities have .

Punjab Chief Minister Amarinder Singh warned Pakistan on Saturday against its "persistent attempts" to spread narco-terrorism in India, asserting that the police force was "keeping a close watch" on anti-national activities across the border even during a crisis. Our eyes are open to what Pakistan is doing, Singh said, hours after the NIA arrested a "notorious narco-terrorist" who acted as a conduit for Pakistan-based terror groups. The central agency said in a statement that it, along with the Punjab and Haryana police, arrested Ranjit Singh alias Cheeta, a resident of Amritsar, from Haryana. It said investigation in a drug case against Singh showed Pakistan-based outfits were using narcotic trade to generate funds for terror activities in India. Assuring people that no matter how much the force has been busy with Covid duties, the Punjab chief minister said, the police was keeping a watch on the borders. "Pakistan is not letting up on its attempts to push drugs, weapons and drug ...

The Sikkim government will allow people stranded in different parts of the country to return to the Himalayan state on their own vehicles from May 11. A limited number of vehicles will be allowed to enter Sikkim everyday and priority will be given to patients, a press note said. Over 6,200 persons of Sikkim stranded outside the state have registered for evacuation and more than 500 of them have returned by Sikkim Nationalised Transport (SNT) buses in the past four days. Since only regulated movement is allowed during the lockdown period so people intending to return on their own vehicles or vehicles hired for the purpose shall be required to fill a form at the COVID portal of the state government for seeking prior approval, the press note said. Persons desiring to travel on their own vehicles must wait for approval after they apply for permission. On approval, a link will be sent to the registered mobile number which can then be downloaded and carried along on the travel .

Potomac Watch: Bernie Sanders may have given up on the Democratic Presidential nomination but is determined to make Joe Biden unelectable. Image: Jonathan Ernst/Reuters

Wonder Land: The coronavirus lockdown model is about to collapse beneath its own weight, undermined by politics, confusion about the virus itself, and the basics of human nature. Images: AFP/Getty Images Composite: Mark Kelly

April’s jobs report shows record-high job losses and unemployment, low-risk businesses in California reopen for curbside pickup today, and testing will increase at the White House. WSJ’s Jason Bellini has the latest on the pandemic. Photo: John Locher/Associated Press

The parlous state of Europe's refining business is no secret.

By James Herron Here’s your morning jolt of news, insight and analysis on the global energy business. Send us tips, suggestions and complaints: ben.winkley@wsj.com and james.herron@wsj.com Click here to receive this morning email newsletter SOLAR WARS The usually tranquil world of European renewable energy just got exciting, as a plucky band of rebels led by […]

Now the Big Oil earnings season has been and gone, serious questions are being asked about whether the future of exploration and production will involve the super majors in their current form.