News Filter
18th October 2016
A Turkish-Iranian gold trader must stand trial for laundering hundreds of millions of dollars and violating U.S. sanctions on Iran, a New York judge said in rejecting a bid to dismiss the case as “unprecedented.” Reza Zarrab, who allegedly owns a multi-billion dollar network of companies in Turkey and the United… Read More
18th October 2016
Bets on expensive but poorly performing hedge funds have cost pensioners in New York $3.8 billion in the last eight years, according to a report published by the state’s financial regulator on Monday. The New York State Common Retirement Fund, which oversees $178 billion in… Read More
18th October 2016
Iran’s October crude and condensate exports are set to hold near five-year highs hit in September, a source with knowledge of its preliminary tanker schedule said, reflecting Tehran’s success in boosting shipments after Western sanctions were lifted. The No. 3 OPEC producer is producing around 4.5 million barrels per day… Read More
18th October 2016
The head of Sri Lanka’s anti-corruption body resigned on Monday, government officials said, days after President Maithripala Sirisena implied her agency was favoring the rival party of his prime minister. Dilrukshi Wickramasinghe has headed probes into alleged corruption involving top officials in the former government of ex-president Mahinda Rajapaksa, including… Read More
17th October 2016
The eldest brother of President Abdel Fattah al-Sisi has been appointed to head a government body responsible for investigating the funding of terrorist activities, including illegal money-laundering activities. Ahmed Saeed Hussain Khalil was appointed to the job in a decree issued on Sunday by Prime Minister Sherif Ismail, along with… Read More
17th October 2016
The Hong Kong-listed owner of English football club Birmingham City lost nearly a third of its value on Monday as the stock resumed trading after a near two-year suspension over a financial scandal that saw ex-chairman Carson Yeung jailed. Shares in Birmingham International Holdings Ltd skidded as much as 45… Read More
17th October 2016
The world’s largest emerging markets must double trade between their countries in the next four years and unite to fight terrorist threats that hurt economic prosperity, Indian Prime Minister Narendra Modi said. Noting intra-BRICS trade was $250 billion, Modi said: “We should set ourselves a target to double this number… Read More
17th October 2016
The arrest in China of Australians working for billionaire James Packer’s Crown Resorts could be a further signal about the level of alarm among Chinese authorities about the flow of cash to foreign casinos. China has a problem with money fleeing the country. In recent years, there have been huge… Read More
17th October 2016
Former local government secretary Sir Eric Pickles has pledged that Britain will make tackling corruption, including in the public sector, a top priority as the country forges a new role in the world following Brexit. In a speech to the anti-bribery and corruption forum in London on 13 October, Pickles… Read More
17th October 2016
The European Union will prepare economic sanctions on the Democratic Republic of Congo unless it holds its delayed presidential and parliamentary elections next year, foreign ministers agreed on Monday. President Joseph Kabila was due to leave office at the end of his mandate in December but authorities have postponed the… Read More