• ISTANBUL SABIHA GÖKÇEN INTERNATIONAL AIRPORT SALE MAY BE STALLED AMIDST TURKISH TURMOIL
    Aviation

    No appetite for Turkey

    As the financial time bomb ticks away in Turkey, the focus is now on countries that have significant exposure to the country and its currency, the lira (TRY). To recap, President Donald Trump is attacking Turkey. He has authorised a doubling of tariffs on steel (50%) and aluminum (20%). The result: the Turkish lira slumped 20%. In Jan. this year USD1 bought TRY3.7; on Aug. 10, USD1 bought nearly TRY7, meaning the Turkish currency has lost about 44% of its value versus the greenback this year. The TRY has experienced 12 straight days of decline. How much is Turkey a risk to the markets? The fear of a financial contagion is real.…

  • FACES MARRED WITH SWEAT AND DUST AND BLOOD? (L-R) TENGKU AZMIL ZAHRUDDIN, DEPUTY MD KHAZANAH; RASHDAN YUSOF, EX-MAS DEPUTY CEO & EX-KHAZANAH DIRECTOR; AZMAN MOKHTAR, EX-KHAZANAH MD
    Strategy

    The Az-man in the arena

    In Tan Sri Azman Mokhtar’s world there are only two types of people – those who fight “in the arena” and those who don’t (read: critics and detractors). The erstwhile managing director of Khazanah Nasional Berhad officially left Malaysia’s sovereign wealth fund (SWF) on July 31, after 14 years and two months at the helm. Two days later Azman released a five-page long Farewell Note to his ex-colleagues and fellow Malaysians. In it he lifted the Man in the Arena passage from a speech titled “Citizenship in a Republic” that US President Theodore Roosevelt delivered at the Sorbonne in April 1910. It is a lengthy but stimulating lecture and we encourage Malaysians, especially politicians,…