26th May 2017
A major reform of the Dodd-Frank Act moved towards expected passage in the House Wednesday during a hearing on the Financial Choice Act of 2017, a bill written by House Financial Services Committee Chairman Jeb Hensarling (R-TX), even as Democrats on the panel urged the GOP majority to slow down… Read More
26th May 2017
White House economic adviser Gary Cohn says President Donald Trump is “looking at” the future of U.S. sanctions on Russia. Asked what the current administration position is, Cohn said, “Right now, we don’t have a position. “Cohn spoke to reporters on Air Force One as Trump headed to the Group… Read More
24th May 2017
Ahead of the automatic exchange of bank account information, which comes into effect at the beginning of next year, Swiss residents with undeclared foreign bank accounts are rushing to come clean to the tax authorities, according to Swiss broadcaster RTS. According to RTS, 380 have come forward in Fribourg, 173 in… Read More
24th May 2017
South Korea’s recent election of liberal politician Moon Jae-in as the country’s new president has triggered a shift in China’s approach to relations with Seoul. After months of harsh criticism of South Korea’s decision to deploy a U.S.-made missile defense system and the enactment of harsh economic sanctions, Beijing appears… Read More
24th May 2017
U.S. Rep Andy Barr (R-KY) reintroduced legislation this week that would make the budget of the Consumer Financial Protection Bureau (CFPB) subject to congressional appropriations. The Taking Account of Bureaucrats’ Spending (TABS) Act was first introduced in the 114th Congress. “I am reintroducing the TABS Act because the Bureau deserves… Read More
23rd May 2017
The Enforcement Directorate (ED) has arrested a chartered accountant (CA) in connection with its probe into a Rs 8,000 crore money laundering racket involving two Delhi-based brothers. The CA, Rajesh Agarwal, has been arrested under provisions of the Prevention of Money Laundering Act (PMLA) and will be produced in court… Read More
23rd May 2017
Saudi Arabia’s Financial Intelligence Unit has stepped a campaign against money laundering and terror funding operations by inspecting real estate and brokerage offices as well as other vital sectors that are likely to be involved in financial crimes. The department has received more than 13,000 intimations related to money laundering… Read More
23rd May 2017
China’s imports of North Korean goods fell below US$100 million to fresh multi-year lows in April, accelerating a months-long decline after China halted coal shipments from its isolated neighbour, data showed on Tuesday. The world’s second-largest economy brought in US$99.3 million worth of goods from North Korea, the lowest since… Read More
22nd May 2017
The government is considering the possibility of imposing further sanctions on North Korea, which has been repeatedly conducting acts of provocation, Foreign Minister Fumio Kishida suggested Sunday. “We need to consider what is the most effective action against North Korea, while keeping a close watch on moves by the reclusive… Read More
22nd May 2017
In North Korea, a land of mysteries, puzzles, and riddles, let me add a question: How fast is the economy growing? A New York Times article from the end of last month hints that growth is fast. “The economy in North Korea is showing surprising signs of life,” the paper… Read More