Skip to main content

Featured

Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
Post a Comment
Read more

article

Labels

Najib Razak Receives Additional 15-Year Sentence in Expanding 1MDB Scandal

Former prime minister Najib Razak was earlier today convicted of four counts of abuse of power and 21 counts of money laundering in the 1MDB case.

Malaysia’s former Prime Minister Najib Razak has been handed an additional 15-year prison sentence, marking one of the most significant rulings yet in the long-running 1MDB corruption saga. The decision deepens Najib’s legal troubles and underscores Malaysia’s continued push to hold high-ranking officials accountable for the multibillion-dollar financial scandal.

A Major Turning Point

The latest verdict stems from charges involving abuse of power and money laundering linked to billions of ringgit that were funneled into Najib’s personal accounts. The court emphasized the gravity of the offenses, noting the scale of the financial misconduct and Najib’s central role in the scheme.

Extended Jail Time and Heavy Penalties

The new sentence will be added to Najib’s existing prison term, significantly extending the time he is expected to remain behind bars. He also faces substantial financial penalties, reflecting the enormous losses tied to the 1MDB fund.

A Scandal With Global Reach

The 1MDB case has been described as one of the world’s largest financial frauds, involving luxury purchases, international money flows, and high-profile figures. Najib, who founded the fund during his tenure as prime minister, has repeatedly denied wrongdoing.

Political Ripples

The ruling is expected to influence Malaysia’s political landscape, where Najib still commands a loyal base. While many Malaysians view the decision as a long-awaited step toward justice, his supporters continue to argue that the charges are politically motivated.


Labels:

Comments

Post a Comment