Mumbai: For depositors of the tainted Punjab and Maharashtra Cooperative (PMC) Bank, the situation is not very different from what it was almost a year ago when the RBI placed withdrawal restrictions on the bank after the mega scam involving misreporting of loans with senior bank officials’ involvement came to light. Exactly one year ago, … Read more
HONG KONG—A Beijing court sentenced an influential businessman known for his outspoken criticism of China’s leader, Xi Jinping, to 18 years in prison, meting out harsh punishment in a corruption case that is likely to chill dissent within the Chinese political elite. Ren Zhiqiang, 69 years old, was sentenced Tuesday after being convicted of corruption, … Read more
Washington: The founder and executive chairman of embattled zero-emission truck maker Nikola has resigned, the company announced on Sunday, after allegations of fraud which sparked a stock tumble and a regulatory investigation. The Phoenix-based company said in a statement that it had accepted Trevor Milton’s resignation and that he would be replaced by Stephen Girsky, … Read more
The World Bank on Thursday said it is halting publication of its flagship report on business competitiveness to investigate data irregularities. Data about four countries—China, Azerbaijan, the United Arab Emirates and Saudi Arabia—appeared to have been inappropriately altered, according to a person with knowledge of the decision. The move renewed concerns first raised two years … Read more
WASHINGTON—Hackers tied to the North Korean government are trying to rob banks across the globe by draining ATMs and initiating fraudulent money transfers, in an effort by the cash-strapped Pyongyang regime to fund its nuclear weapons program, multiple federal government agencies warned Wednesday. The campaign includes so-called spearphishing attacks—which use fraudulent email to infect a … Read more
Mindful of Russia’s warning against interfering in Belarus, European Union leaders have taken a nuanced approach to the unfolding crisis, preparing sanctions against officials they say are responsible for rigging this month’s presidential election and violently dispersing protesters, while emphasizing that only Belarusians can resolve the turmoil there. The EU’s 27 heads of state and … Read more
MOSCOW—When Svetlana Tikhanovskaya walked into Belarus’s election commission to complain she had been cheated out of a win in last weekend’s presidential election, her campaign team expected her to quickly emerge to carry on the fight. Instead, she disappeared, resurfacing the next day in Lithuania. In a video posted on social media, she called for … Read more
WASHINGTON: The Trump administration has taken a series of steps to prevent abuse and fraud in the employment-based visa programs, including H-1B, a top official from the US Citizenship and Immigration Services (USCIS) told lawmakers on Thursday. H-1B is the most coveted foreign work visa for technology professionals from India. The USCIS has implemented rules, … Read more