Malaysian 1MDB defaults on $1.75 bn bond
Malaysian state-owned investment fund 1Malaysia Development Berhad (1MDB) on Tuesday said it has defaulted on a $1.75 billion bond after missing a $50 million payment amid a dispute with Abu Dhabi's sovereign wealth fund. Notably, this comes after a Malaysian parliamentary committee earlier identified irregular transactions worth $4.2 billion by the fund, including some involving Abu Dhabi firms. 