AP Ja Rule. Fyre Festival is an unmitigated disaster, and rapper Ja Rule does not want to be blamed. What was supposed to be a three-day all-inclusive luxury music festival with tickets costing up to $ 250,000 has collapsed under its own weight. With acts and catering pulling out, a lack of adequate infrastructure on the private […]

REUTERS/Shannon Stapleton Mohamed El-Erian. Deutsche Bank’s current troubles will not turn into a “Lehman moment,” a ccording to Allianz’s chief economic adviser, Mohamed El-Erian. El-Erian on Thursday told Bloomberg TV that the German lender’s current turmoil will not lead to “a sudden stop to the global economy,” like the one that followed Lehman Brothers’ 2008 failure. For one thing, he […]

The ruble slipped again as President Vladimir Putin told reporters during his annual press conference on Thursday that the currency’s falls were ‘not a crisis’. BloombergDollar vs the ruble. At the time of writing the ruble was down 3% against the dollar as Putin attempted to reassure people over the prospects for the Russian economy, […]

KUALA LUMPUR (July 3): Malaysian Airline System Bhd (MAS) announced  it is ‘not aware’ of any decision on the privatisation of the company for the restructuring of the loss-making airline. The announcement was made in response to a foreign news report yesterday entitled: “MAS may be taken private for restructuring”. “We wish to announce that […]