Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Malaysia says it will resume search for wreckage of missing Flight MH370
    Finance

    Malaysia says it will resume search for wreckage of missing Flight MH370

    Malaysia says it will resume search for wreckage of missing Flight MH370

    Published by Global Banking and Finance Review

    Posted on December 20, 2024

    Featured image for article about Finance

    By Ashley Tang

    KUALA LUMPUR (Reuters) - Malaysia has agreed in principle to resume the search for the wreckage of missing Malaysia Airlines Flight MH370, its transport minister said on Friday, more than 10 years after it disappeared in one of the world's greatest aviation mysteries.

    Flight MH370, a Boeing 777 carrying 227 passengers and 12 crew, vanished en route from Kuala Lumpur to Beijing on March 8, 2014.

    Transport Minister Anthony Loke said the proposal to search a new area in the southern Indian Ocean came from exploration firm Ocean Infinity, which had also conducted the last search for the plane that ended in 2018.

    The firm will receive $70 million if wreckage found is substantive, Loke told a press conference.

    "Our responsibility and obligation and commitment is to the next of kin," he said.

    "We hope this time will be positive, that the wreckage will be found and give closure to the families."

    Malaysian investigators initially did not rule out the possibility that the aircraft had been deliberately taken off course.

    Debris, some confirmed and some believed to be from the aircraft, has washed up along the coast of Africa and on islands in the Indian Ocean.

    More than 150 Chinese passengers were on the flight, with relatives demanding compensation from Malaysia Airlines, Boeing, aircraft engine maker Rolls-Royce and the Allianz insurance group among others.

    Malaysia engaged Ocean Infinity in 2018 to search in the southern Indian Ocean, offering to pay up to $70 million if it found the plane, but it failed on two attempts.

    That followed an underwater search by Malaysia, Australia and China in a 120,000 sq km (46,332 sq mile) area of the southern Indian Ocean, based on data of automatic connections between an Inmarsat satellite and the plane.

    (Reporting by Ashley Tang; Writing by Martin Petty; Editing by John Mair)

    Related Posts
    Ukraine says it hit Russian oil rig, patrol ship in Caspian Sea
    Ukraine says it hit Russian oil rig, patrol ship in Caspian Sea
    EU Council backs digital euro with both online and offline functionality
    EU Council backs digital euro with both online and offline functionality
    IMF welcomes EU's 90 billion euro loan to Ukraine, more work to be done
    IMF welcomes EU's 90 billion euro loan to Ukraine, more work to be done
    Euro zone consumer confidence falls to -14.6 in December
    Euro zone consumer confidence falls to -14.6 in December
    Musk wins appeal that restores 2018 Tesla pay deal now worth about $139 billion
    Musk wins appeal that restores 2018 Tesla pay deal now worth about $139 billion
    Germany removes dividend ban for Uniper, paving way for IPO
    Germany removes dividend ban for Uniper, paving way for IPO
    Golden Goose gets new majority owner as China's HSG buys stake from Permira
    Golden Goose gets new majority owner as China's HSG buys stake from Permira
    Rubio says not concerned about escalation with Russia over Venezuela
    Rubio says not concerned about escalation with Russia over Venezuela
    ECB's Escriva expects monetary policy to remain steady
    ECB's Escriva expects monetary policy to remain steady
    French government to appeal court ruling on Shein
    French government to appeal court ruling on Shein
    Russian central bank governor Nabiullina speaks after rate cut
    Russian central bank governor Nabiullina speaks after rate cut
    Strategy and bitcoin-buying firms face wider exclusion from stock indexes
    Strategy and bitcoin-buying firms face wider exclusion from stock indexes

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Finance PostRapprochement between Volkswagen and union in wage talks, sources say
    Next Finance PostFrance's Macron to visit Mayotte shantytowns wrecked by Cyclone Chido

    More from Finance

    Explore more articles in the Finance category

    Carnival Corp sees strong annual profit, resumes dividend as bookings rise

    Carnival Corp sees strong annual profit, resumes dividend as bookings rise

    London's FTSE 100 climbs as miners, defence outperform in data-heavy week

    London's FTSE 100 climbs as miners, defence outperform in data-heavy week

    Italy sells digital payment unit PagoPA to Poste, state mint for up to 500 million euros

    Italy sells digital payment unit PagoPA to Poste, state mint for up to 500 million euros

    Court in Brazil's Minas Gerais slaps down Nestle copyright lawsuit

    Court in Brazil's Minas Gerais slaps down Nestle copyright lawsuit

    German court jails man for drugging, raping wife, posting assaults online

    German court jails man for drugging, raping wife, posting assaults online

    UniCredit issues its first tokenised structured note

    UniCredit issues its first tokenised structured note

    UK competition watchdog to probe AB Foods' Hovis purchase

    UK competition watchdog to probe AB Foods' Hovis purchase

    Trump said he has no bigger healthcare plans: Obamacare will 'repeal itself'

    Trump said he has no bigger healthcare plans: Obamacare will 'repeal itself'

    Analysis-Spanish consumer credit hits near 18-year high on economic boom

    Analysis-Spanish consumer credit hits near 18-year high on economic boom

    NATO sees positive signs Czech ammunition scheme for Kyiv may continue

    NATO sees positive signs Czech ammunition scheme for Kyiv may continue

    Maersk tests Red Sea route as Gaza ceasefire offers hope

    Maersk tests Red Sea route as Gaza ceasefire offers hope

    Russia's tax proceeds from oil may fall in January to the lowest since 2022, Reuters calculations show

    Russia's tax proceeds from oil may fall in January to the lowest since 2022, Reuters calculations show

    View All Finance Posts