Samanth Subramanian reports on the Mumbai bank jobNirav Modi didn’t seem like the kind of person who needed to rob $2bn (€1.7bn) from a bank. He’s a short man, 47 years old and losing hair, the pocket square in his jacket always arranged to fussy perfection.His daintiness befitted a jeweller to the stars. Kate Winslet wore a Modi bracelet and Modi earrings to the Oscars. Dakota Johnson wore a similar set to the Golden Globes.Priyanka Chopra gazed out of Modi advertisements. Naomi Watts attended the opening, in 2015, of his emporium on Madison Avenue. Christie’s once put his Golconda Lotus necklace on the cover of its catalogue and auctioned it for over $3m.His stores — in Las Vegas, Macau, Singapore, Beijing, London — were boutiques of bling, where white light bounced off the arrayed gold and diamonds. He told people he wanted 100 shops by 2025. Last year, Forbes estimated his worth at $1.8bn.A good casting director would have marked him for the role … [Read more...] about Did a jeweller to the stars commit India’s biggest bank fraud?
Industrial credit and investment corporation of india
With the withdrawal from the Iran nuclear deal, also known as Joint Comprehensive Plan of Action (JCPOA), the U.S. has created disenchantment among its allies across the Atlantic and has compelled them to look for ways to keep the accord alive. European countries such as Germany, France and the U.K. have expressed determination to continue economic ties with Iran and their investment projects in the country. In order to do that, Europe is looking for alternative financial structures for its trade with Iran and with no exposure to the U.S. dominated financial system, including euro-denominated loans and euro-based payment systems. A meeting between Iranian Foreign Minister Javad Zarif and his German, British, and French counterparts as well as EU foreign policy chief Federica Mogherini on May 15 also highlighted the joint determination to seek "practical solutions" for keeping the nuclear accord. "I cannot talk about legal or economic guarantees but I can talk about serious, determined, … [Read more...] about US policies drive Iran’s trade partner Europe to ditch dollar to maintain economic ties
In a bid to stabilize and foster economic growth through industrial production and increasing exports, Turkey introduced a TL 135 billion ($33 billion) incentive certificate package Monday to support petrochemical, energy, metallurgy, health, manufacturing and agricultural industries. The expansive incentive certificates do not distinguish between foreign and local investors. All investment projects will be treated equally under this scheme, raising the competitiveness of the Turkish incentives against other emerging markets, such as Mexico, India and Indonesia. From land allocation, various tax exemptions, support for staff insurance premiums and energy support for up to 10 years, the incentive package covers a vast area of investment expenditure items. Specifically within the scope of the project based incentive system, investors will be able to benefit from one or more of the provisions, such as customs duty exemptions, value-added tax exceptions, value-added tax (VAT) refunds for … [Read more...] about Turkey offers one of most competitive, encouraging investment incentives in emerging markets
Video PUBLISHED: 09:55 08 June 2017 | UPDATED: 09:55 08 June 2017 Voters will go to the polls on Thursday. Here, the general election candidates in Norfolk and Waveney say why you should vote for them. Picture: Matthew Usher. © Archant Norfolk 2015 We asked the general election candidates in Norfolk and Waveney to tell us why you should vote for them today. We also invited them to submit videos outlining their three priorities. This is what they said: General election candidates for Broadland (L-R): Andrew Boswell (Green Party),David Moreland (UKIP), Steve Riley (Liberal Democrat), Iain Simpson (Labour) and Keith Simpson (Conservative) Broadland Andrew Boswell (Green) General election candidates for Great Yarmouth (L-R): Catherine Blaiklock (UKIP), James Joyce (Liberal Democrats), Brandon Lewis (Conservative), Mike Smith-Clare (Labour) and Harry Webb (Green Party). “Broadland people, I meet, know this election goes much wider than who negotiates Brexit with the EU, … [Read more...] about General Election 2017: Full list of the candidates in Norfolk and Waveney
By Sumeet Chatterjee and Lawrence White HONG KONG/LONDON (Reuters) – Standard Chartered Inc <STAN.L> is looking to drive returns by boosting lending to key industrial sectors and top clients, in a move that could cut about a dozen investment banking jobs as it dials back in areas like private equity, sources said. Some of those jobs will likely be redeployed in other parts of its main corporate banking unit that StanChart is trying to strengthen, given its aim to increase lending to top companies in its main markets of Asia, Africa and the Middle East, said the sources who have knowledge of the plan. The changes form part of a two-year overhaul at the bank – triggered in part by a spike in non-performing loans in China and India – that investors hope will help StanChart return to higher revenue growth. StanChart is expanding into “consumer-led industries” including pharmaceuticals and healthcare, while continuing to build on its strong client base of … [Read more...] about StanChart prunes coverage, may cut investment banking jobs