February 20, 2009 Friday
Updated

JAPANESE oil trader Noriyuki Yamazaki in Singapore who lost Mitsui US$81 million after bets in petroleum trading went wrong pleaded guilty on Friday to 10 charges for his role in concealing the losses.

The man at the centre of the scandal was the key naptha trader of Mitsui back in 2006. Mitsui accounted for about half the trades of naptha trading in Singapore.

 
Fewer new charities approved

THE Commissioner of Charities has used his new powers to ensure that only groups which meet more stringent standards can call themselves charities.

RBS may sell Asian units

JUST months ago, the green and yellow logo of ABN Amro was replaced by the blue and white colours of the Royal Bank of Scotland (RBS), but Singapore customers may soon have to get used to another new look.

According to reports from London yesterday, embattled RBS is looking to sell its Asian units, mainly assets acquired when it bought the Dutch financial group in 2007. It is also said to be keen to sell Charter One, its United States business banking asset.

Students left high and dry

A PRIVATE language school in Tanjong Pagar closed down suddenly, leaving about 20 students high and dry and hoping for refunds on their fees.

   
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