Global Markets: Former Malaysian PM to serve 12 year sentence

By MarketsFarm

WINNIPEG, July 28 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Former Malaysian Prime Minister Najib Razak has been sentenced to 12 years in jail after being found guilty of multiple counts of fraud, corruption and abuse of power. The charges relate to a scandal that saw funds from a government-owned investment fund end up in Razak’s personal accounts. He maintains his innocence and intends to appeal, while placing the blame on financial advisors.

– Craig and Mark Kielburger, founders of the WE Charity, will appear before a House of Commons committee on Tuesday to answer questions. The charity is at the centre of a parliamentary ethics investigation after Justin Trudeau’s Liberals gave it a contract to administer a C$900-million student grant program.

– Barbados is launching a campaign that would provide foreigners a visa to live and work in the Caribbean country for one year while working remotely during the COVID-19 pandemic. Potential applicants can apply for the ‘Barbados Welcome Stamp’ online.

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