Commodity market

Radiant World misses salary payments for employees in September

A number of banks have cut Radiant World off since Bloomberg first reported in July on creditors’ concerns that the iron ore trader had been raising money using falsified documents.

US fund accuses iron ore trader Radiant World of fraud in Swiss complaint

The Swiss complaint also names Sapphire Minmetals Corporation, along with Radiant World’s local subsidiary and Radiant World founder Pinkesh Nahar.

Radiant World deepens job cuts after founder loses control of firm

The latest reductions in Radiant World include staff working in operations and execution for base metals.

Vitol told Deutsche Bank AG that Radiant World contracts with CFO’s signature were fake

Bloomberg reported in July that top traders including Vitol had halted business with Radiant World amid concerns that it had supplied banks with fake documents to obtain loans.

Singapore judge raises doubts iron ore trader Radiant World is owed over $1.3b

Radiant World, battling demands from creditors, was placed under interim judicial management on Sept 24.

Singapore court appoints KPMG to manage trader Radiant World

KPMG executives Toh Ai Ling, Adrian Chan and Tan Yen Chiaw will be interim judicial managers of Radiant World Corporation.

Obscure UAE firms hold key to Radiant World’s US$1 billion in assets

Radiant World’s balance sheet shows US$1 billion in trade receivables – money that it says it is owed by customers.

Vitol trader confirmed Radiant World deal that Vitol now denies

Radiant World has been accused by a number of its lenders and counterparties of fraudulently raising money by using fake documents.

Radiant World sent Mizuho Bank fake Glencore e-mail, says court filing in Singapore

Mizuho asserts that it had been defrauded on US$95.5 million in loans it had extended to Radiant World earlier.

Oil falls to two-week low as Gulf supply outlook improves

The Brent crude futures November contract rose US$1.14, or 1.1 per cent, to US$101.48 a barrel on Sept 22.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.