World Bulletin / News Desk
It emerged Wednesday afternoon that Samsung Vice Chairman Lee Jae-yong has been summoned to appear at 9.30 a.m. (0030GMT) on bribery claims -- a special probe team spokesperson admitted at a press briefing there is a possibility of seeking an arrest warrant.
Lee already appeared before prosecutors in November and then at a televised parliamentary hearing a month later on Dec. 6.
He has denied buying any favors, but allegations have persisted because of suspicions surrounding the state-run pension fund’s support for a Samsung merger in 2015.
Since taking over from state prosecutors last month, independent investigators have been building a case against Samsung for financially supporting the suspended president’s now notorious private confidante Choi Soon-sil.
Lee will be grilled about his company’s apparent 22 billion won ($18.4 million) contract with a German company under the ownership of Choi and her daughter Chung Yoo-ra -- an equestrian star who was caught hiding in Denmark on New Year’s Day after leaving her base in Germany.
With Samsung Chairman Lee Kun-hee still in hospital following a heart attack in 2014, his son and heir apparent will also have to deal with his own admission that the conglomerate gave Chung a horse worth 1 billion won ($837,000) as well as large donations to nonprofit foundations linked to Choi allegedly at the request of the president.
This has all done little harm to Samsung Electronics’ performance, which reached a new record-high on the local stock index Wednesday, having last week announced an expected fourth-quarter operating profit of 9.2 trillion won ($7.7 billion).
Days after Russian regulator demeaned cryptocurrency, it breaks new records
The figure was slightly lower than analysts had forecast, following a 1.4 percent hike in overall prices in August.
Two parties to work for promoting sustainable economic growth in Developing 8 countries
Investors will also be tracking the start of an EU summit where Brexit will once again be the focus of attention.
BIST 100 index rises 0.45 pct while US dollar/Turkish lira rate stands at 3.67
Bank expects Turkey's strong growth performance to continue in Q3, World Bank Country Director for Turkey says
Industrial production marks first increase in three months, while manufacturing production comes below market expectations
While optimism remains over the world economy and corporate earnings -- helping push global markets to all-time or multi-month highs -- investors moved carefully as they await the next catalyst.
BIST 100 index rises 1.18 pct while US dollar/Turkish lira rate stands over 3.63
BIST 100 index falls 0.24 pct while US dollar/Turkish lira rate climbs to 3.69
National Bank of Ethiopia says devaluation of its currency necessary to boost exports
In its latest forecast, the IMF predicted the Russian economy will expand by 1.8 percent in 2017 and by 1.6 percent in 2018.