Taliban spokesperson Suhail Shaheen recently blamed Ashraf Ghani for the chaos that the country has to go through and said that he did a mistake by abandoning the government all of a sudden.

Taliban spokesperson Suhail Shaheen recently blamed Ashraf Ghani for the chaos that the country has to go through and said that he did a mistake by abandoning the government all of a sudden. In an exclusive interview to Doha News, the spokesperson said on August 15, when the Taliban were 'looking forward to' a peaceful transfer of power and the fighters were waiting outside the gate of Kabul, Ashraf Ghani suddenly fled. "He made a mistake of abandoning the government...This is what resulted in the sudden vacuum, plundering and shooting," the Taliban spokesperson said. 🔴 EXCLUSIVE: Taliban’s political spokesperson in Qatar, @SuhailShaheen1 says Afghan President Ashraf Ghani must return “the money of the people of Afghanistan”#afghanistan #taliban #qatar #dohanews WATCH ⬇️ pic.twitter.com/v7E2xdIIYD — Doha News (@dohanews) August 29, 2021 × On the other hand, Ashraf Ghani refuted reports of both fleeing the country and fleeing with money. He gave a message saying that that he was forced to leave the country to avoid bloodshed. He did not even have the time to change his slippers, he said, adding that there was no question of taking 'tonnes of money'. Meanwhile, a little after US President Joe Biden warned against another possible attack in Kabul, a loud explosion was heard in the capital city of Afghanistan. Also read | Biden visits US air base to pay tribute to service personnel killed in Kabul While it is not yet clear where exactly did the explosion happen, smoke was seen rising from the Khwaja Bugra area in PD15. The source of the explosion was a rocket that has hit a house near the north gate of Kabul airport. However, the airport has not been hit. US officials have told news agency Reuters that the US has carried out a strike in Kabul and it is understood that the same rocket strike landed in the residential area. However, the claim is yet to be confirmed. The officials have claimed that the US was targeting some ISIS-K members through a fresh military strike. Meanwhile, Taliban spokesperson, Zabihullah Mujahid, has confirmed in a text message to journalists that on Sunday the US was targeting a suicide bomber of ISIS-K in a vehicle who was about to attack the Kabul airport. Following the explosion, Taliban have increased security in the area. This explosion happened a few hours after the US President Joe Biden warned that there is a possibility of another attack near the Kabul airport and the US embassy in Kabul had urged its citizens to stay away from the clear vicinity of the airport.

Taliban accuses Ashraf Ghani of fleeing the country with money

In pics| Kabul residents protest against closure of banks

Environmentalists say desalination decimates ocean life, costs too much money and energy. But as Western states face an epic drought, regulators appear ready to approve a desalination plant in Huntington Beach, California.

California approves desalination plant as western states face an epic drought

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).

The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well.

BHIM is the second Indian payment gateway to be launched in the country after RuPay.

The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi.

Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia.

India and Bhutan share very close ties, defined as a "special relationship".

Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI). The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well. BHIM is the second Indian payment gateway to be launched in the country after RuPay. The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi. Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia. India and Bhutan share very close ties, defined as a "special relationship". Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.

Indian mobile payment App BHIM to be launched in Bhutan today 

Gravitas Plus | Why do people die with money in the bank? When it comes to money, we either spend too much or are needlessly frugal. WION's Palki Sharma says teaching fundamentals of investment, loans, debt in school is the best way to help people make smart money decisions. Listen in.

Gravitas Plus | Financial Literacy: The need of the hour

Guatemalan Health Minister Amelia Flores said on Tuesday that the government had asked Russia to return money already paid for doses of the Sputnik V COVID-19 vaccine because of non-delivery. 
 
The government of President Alejandro Giammattei paid some $80 million in early April for a supply of 8 million doses of the vaccine. So far, it has received just 150,000 of those, the government said, while COVID-19 infections in the Central American country have risen to a peak. 
 
The minister said Guatemala had given the Russian direct investment fund (RDIF), which is responsible for marketing the vaccine abroad, 20 days to deliver the promised doses. 
 
A spokesman for the RDIF said additional supplies of the vaccine would reach Guatemala soon. 
 
"Another plane with Sputnik V is scheduled to arrive in Guatemala this week, with the next one coming already early next week to keep fulfilling obligations regarding the contract," Gleb Bryanski, director for special projects at RDIF, said in an emailed statement. 
 
Russia President Vladimir Putin has trumpeted the Sputnik V vaccine around the world. He said in March that the country had signed agreements for the production of hundreds of millions of doses abroad. 
 
But Russia had produced only a fraction of those and its output is much lower than those manufactured each month by Pfizer and AstraZeneca.

(With inputs from agencies)

Guatemalan Health Minister Amelia Flores said on Tuesday that the government had asked Russia to return money already paid for doses of the Sputnik V COVID-19 vaccine because of non-delivery.

Guatemalan Health Minister Amelia Flores said on Tuesday that the government had asked Russia to return money already paid for doses of the Sputnik V COVID-19 vaccine because of non-delivery. The government of President Alejandro Giammattei paid some $80 million in early April for a supply of 8 million doses of the vaccine. So far, it has received just 150,000 of those, the government said, while COVID-19 infections in the Central American country have risen to a peak. The minister said Guatemala had given the Russian direct investment fund (RDIF), which is responsible for marketing the vaccine abroad, 20 days to deliver the promised doses. A spokesman for the RDIF said additional supplies of the vaccine would reach Guatemala soon. "Another plane with Sputnik V is scheduled to arrive in Guatemala this week, with the next one coming already early next week to keep fulfilling obligations regarding the contract," Gleb Bryanski, director for special projects at RDIF, said in an emailed statement. Russia President Vladimir Putin has trumpeted the Sputnik V vaccine around the world. He said in March that the country had signed agreements for the production of hundreds of millions of doses abroad. But Russia had produced only a fraction of those and its output is much lower than those manufactured each month by Pfizer and AstraZeneca. (With inputs from agencies)

Guatemala asks Russia to return money over failure to deliver Sputnik COVID-19 vaccine

India's economy has not moderated to the extent it did during the first wave but uncertainties can act as a deterrent in the short term, the Reserve Bank of India said on Thursday. 
 
In its annual report, the central bank said the country`s growth prospects now essentially depend on how fast India can arrest the second wave of COVID-19 infections. 
 
"The recovery of the economy from the COVID-19 will critically depend on the robust revival of private demand that may be led by the consumption in the short-run but will require acceleration of investment to sustain the recovery," the central bank said in its annual report. 
 
It also added that reform measures in various areas were likely to improve India`s growth potential on a sustainable basis.

India's economy has not moderated to the extent it did during the first wave but uncertainties can act as a deterrent in the short term, the Reserve Bank of India said on Thursday.

India's economy has not moderated to the extent it did during the first wave but uncertainties can act as a deterrent in the short term, the Reserve Bank of India said on Thursday. In its annual report, the central bank said the country`s growth prospects now essentially depend on how fast India can arrest the second wave of COVID-19 infections. "The recovery of the economy from the COVID-19 will critically depend on the robust revival of private demand that may be led by the consumption in the short-run but will require acceleration of investment to sustain the recovery," the central bank said in its annual report. It also added that reform measures in various areas were likely to improve India`s growth potential on a sustainable basis.

Indian economy not as hard hit as first wave but uncertainties remain, says RBI

Bitcoin dropped to a three-month low on Monday as investors sold cryptocurrencies in the wake of Tesla boss Elon Musk's hinting over the weekend that the carmaker is considering to shed or may have already sold some of its bitcoin holdings.&nbsp;

Musk has boosted crypto markets with his enthusiasm for the asset class, but has lately roiled trade by appearing to cool on bitcoin in favour of its one-time parody, dogecoin. The gyrations are beginning to spook even steeled traders.&nbsp;

"This has gone from clear FOMO (fear of missing out) to fear of not getting out, and you’re seeing a lot of people dumping," said Chris Weston of brokerage Pepperstone in Melbourne, adding that he was looking at the 200-day moving average just below $40,000 as the next key test for bitcoin.&nbsp;

"Why would I want to buy bitcoin right now, even if I’m bullish, until the liquidation is over and you see some consolidation in price?"&nbsp;

Bitcoin fell more than 9% on Monday to as low as $42,185, its lowest since February 8, while ether, linked to the ethereum blockhain, fell even more to as low as $3,123.94. Dogecoin fell nearly 7% to $0.48, and all three are well under recent records.&nbsp;

On Wednesday, Musk said Tesla would stop taking bitcoin as payment, owing to environmental concerns about energy use to process transactions. Defending that decision on Sunday, he suggested Tesla may have sold its own holdings.&nbsp;

In response to an unverified Twitter account called @CryptoWhale, which said, "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn't blame him...," Musk wrote: "Indeed". &nbsp;

It is not clear whether he was confirming sales or whether he referred only to the fact that he had faced criticism.&nbsp;

Musk said Tesla would not sell its bitcoin, but the cryptocurrency has dropped by almost a quarter since Musk's reversal on Tesla taking it as payment.&nbsp;

On Tuesday, it was reported that Tesla is seeking to enter the multi-billion dollar US renewable credit market, hoping to profit from the Biden administration's march towards new zero-emission goals.&nbsp;

Dogecoin is also yet to fully recover from Musk describing it as a 'hustle’, although he did boost the price last week by saying he was working to improve its efficiency.&nbsp;

For an asset class that has surged this year, with dogecoin up about a hundredfold, ether up more than fourfold and bitcoin gaining 45%, some are beginning to call time on the wild ride.&nbsp;

"Our weekend trading has kicked up, and we`re looking at some serious liquidations through the exchanges," said Pepperstone's Weston.&nbsp;

"I am closing the short-bitcoin/long-ethereum trade and moving to the sidelines," he added. "I feel the dust really needs to settle here." &nbsp;

(With inputs from agencies)&nbsp;

Bitcoin dropped to a three-month low on Monday as investors sold cryptocurrencies in the wake of Tesla boss Elon Musk's hinting over the weekend that the carmaker is considering to shed or may have already sold some of its bitcoin holdings.

Bitcoin dropped to a three-month low on Monday as investors sold cryptocurrencies in the wake of Tesla boss Elon Musk's hinting over the weekend that the carmaker is considering to shed or may have already sold some of its bitcoin holdings. Musk has boosted crypto markets with his enthusiasm for the asset class, but has lately roiled trade by appearing to cool on bitcoin in favour of its one-time parody, dogecoin. The gyrations are beginning to spook even steeled traders. "This has gone from clear FOMO (fear of missing out) to fear of not getting out, and you’re seeing a lot of people dumping," said Chris Weston of brokerage Pepperstone in Melbourne, adding that he was looking at the 200-day moving average just below $40,000 as the next key test for bitcoin. "Why would I want to buy bitcoin right now, even if I’m bullish, until the liquidation is over and you see some consolidation in price?" Bitcoin fell more than 9% on Monday to as low as $42,185, its lowest since February 8, while ether, linked to the ethereum blockhain, fell even more to as low as $3,123.94. Dogecoin fell nearly 7% to $0.48, and all three are well under recent records. On Wednesday, Musk said Tesla would stop taking bitcoin as payment, owing to environmental concerns about energy use to process transactions. Defending that decision on Sunday, he suggested Tesla may have sold its own holdings. In response to an unverified Twitter account called @CryptoWhale, which said, "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn't blame him...," Musk wrote: "Indeed". It is not clear whether he was confirming sales or whether he referred only to the fact that he had faced criticism. Musk said Tesla would not sell its bitcoin, but the cryptocurrency has dropped by almost a quarter since Musk's reversal on Tesla taking it as payment. On Tuesday, it was reported that Tesla is seeking to enter the multi-billion dollar US renewable credit market, hoping to profit from the Biden administration's march towards new zero-emission goals. Dogecoin is also yet to fully recover from Musk describing it as a 'hustle’, although he did boost the price last week by saying he was working to improve its efficiency. For an asset class that has surged this year, with dogecoin up about a hundredfold, ether up more than fourfold and bitcoin gaining 45%, some are beginning to call time on the wild ride. "Our weekend trading has kicked up, and we`re looking at some serious liquidations through the exchanges," said Pepperstone's Weston. "I am closing the short-bitcoin/long-ethereum trade and moving to the sidelines," he added. "I feel the dust really needs to settle here." (With inputs from agencies)

Bitcoin hits three-month low as Musk drives investors to exit 

Like almost everything in the world, the old-school method of ‘please leave your tips in the jar’ has now been converted to a virtual world.

The social media platform, <a href="https://www.wionews.com/topics/twitter">Twitter</a>, is now allowing people to add virtual tip jars to accounts, through which other users can contribute money to their cause and/or provide tips for the offered services.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Now you can do more to support the many amazing voices who add to the conversation on Twitter –– send them tips. 
 
You can send someone a tip through several payment services by tapping the new Tip Jar icon on their profile, testing on Android and iOS. <a href="https://t.co/oSrfY2sJ8b">https://t.co/oSrfY2sJ8b</a>
— Twitter Support (@TwitterSupport) <a href="https://twitter.com/TwitterSupport/status/1390396738788339722?ref_src=twsrc%5Etfw">May 6, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

However, this option is not open for all users right now. Only a limited number of users around the world can add the virtual "tip jar" feature to their Twitter profiles, explained the company’s senior product manager Esther Crawford.

Also read |&nbsp;<a href="https://www.wionews.com/world/social-media-platforms-should-not-amplify-untrustworthy-content-biden-383169" hreflang="en">Social media platforms should not amplify 'untrustworthy' content: Biden</a>

"You drive the conversation on Twitter and we want to make it easier for you to support each other beyond Follows, Retweets, and Likes," Crawford explained in his blog post. "This is a first step in our work to create new ways for people to receive and show support on Twitter -— with money."

The option of ‘Tip Jar’ will allow the users to be redirected to services such as Patreon, PayPal or Venmo, through which the users can pay tips to the selected Twitter star.

"Soon, more people will be able to add Tip Jar to their profile and we'll expand to more languages," Crawford said.

She also clarified that twitter will not be taking any cuts of these tips in any scenario.

The selected group of individuals include creators, journalists, experts and a few non-profit organisations.

Like almost everything in the world, the old-school method of ‘please leave your tips in the jar’ has now been converted to a virtual world. The social media platform, Twitter, is now allowing people to add virtual tip jars to accounts, through which other users can contribute money to their cause and/or provide tips for the offered services.

Like almost everything in the world, the old-school method of ‘please leave your tips in the jar’ has now been converted to a virtual world. The social media platform, Twitter, is now allowing people to add virtual tip jars to accounts, through which other users can contribute money to their cause and/or provide tips for the offered services. Now you can do more to support the many amazing voices who add to the conversation on Twitter –– send them tips. You can send someone a tip through several payment services by tapping the new Tip Jar icon on their profile, testing on Android and iOS. https://t.co/oSrfY2sJ8b — Twitter Support (@TwitterSupport) May 6, 2021 × However, this option is not open for all users right now. Only a limited number of users around the world can add the virtual "tip jar" feature to their Twitter profiles, explained the company’s senior product manager Esther Crawford. Also read | Social media platforms should not amplify 'untrustworthy' content: Biden "You drive the conversation on Twitter and we want to make it easier for you to support each other beyond Follows, Retweets, and Likes," Crawford explained in his blog post. "This is a first step in our work to create new ways for people to receive and show support on Twitter -— with money." The option of ‘Tip Jar’ will allow the users to be redirected to services such as Patreon, PayPal or Venmo, through which the users can pay tips to the selected Twitter star. "Soon, more people will be able to add Tip Jar to their profile and we'll expand to more languages," Crawford said. She also clarified that twitter will not be taking any cuts of these tips in any scenario. The selected group of individuals include creators, journalists, experts and a few non-profit organisations.

Twitter adds 'tip jar' for selected 'content creators'

Even as Covid protocols restrict international and domestic transport, the cross border crime syndicates continue to make big money by smuggling truckloads of 'sin goods'&nbsp;into India through land and sea routes. Two major transit hubs, Tamu (Myanmar) and Dubai have emerged as bases of top smuggling syndicates, involved in pushing large consignments of branded cigarettes, seen as the most lucrative commodity having profit margins much higher than gold. 
 
Trailing illicit factories in Malaysia and Indonesia, Indian agencies have recently busted a Myanmar based crime syndicate that had been pushing truckloads of foreign brand cigarettes, primarily Marlboro, 555, and Esse Lights worth several crores. Confirming to IANS, the Commissioner of Customs (Preventive), V.P. Shukla said that his team seized two truckloads of branded cigarettes in the past two months in Uttar Pradesh, bearing Nagaland number plates. "It`s a very sensitive investigation, I would not comment more on the issue," said Shukla, a 1993 batch IRS officer, known for busting several smuggling rings active in India. 
 
Elaborating on why cigarettes have become the most lucrative sin good, even more, profitable than drugs and the yellow metal, former Chief of Directorate of Revenue Intelligence (DRI), D.P. Dash revealed, "Due to low production cost and very high rate of taxes on cigarettes, the profit in smuggling this item is by far the highest. The risk too, in comparison to smuggling drugs and fake currency, is minimum while dealing in contraband cigarettes. Therefore, for the underworld kingpins, `buttlegging` is the most sought after crime these days." In fact, according to the estimates of the US Department of State, buttlegging or illicit trade in cigarettes is causing a worldwide tax loss of over US$ 50 billion annually. India also happens to incur major losses as crime syndicates active in the sub-continent now focus primarily on buttlegging. 
 
In the season of the pandemic, it`s not gold but cigarettes, where smuggling rings are trying to make big money. "As purchasing power gets a little tight, people might be shy of investing in jewellery or even gold, but those addicted to smoking won`t quit the stick easily. Besides, the retail distribution chains selling cigarettes, like pan shops or grocery stores continue to operate during lockdown or curfews. So this illicit trade goes on," said a Customs officer associated with a team that busted one of the biggest cigarette smuggling rings during a raid at Nehru Port Trust, in Navi Mumbai, early last month. According to this officer, the syndicates may be active but DRI sleuths are playing a vital role in dismantling smuggling rings involved in pushing sin goods and contraband narcotics into the country. 
 
Top sources in Customs said that Delhi, Mumbai, Chennai and Bangalore are major hubs of distribution of contraband cigarettes. On Tuesday (April 20) when a truckload of foreign cigarettes, bearing a fake Nagaland number plate was passing through Lucknow, the Customs were quick to seize the consignment, worth over Rs 2 crore. Sources said that three smugglers were arrested on the spot. 
 
Thousands of cigarette packs recovered from the smugglers had a barcode which revealed that big consignment of Marlboro brand of cigarettes was diverted from the duty-free shops in Switzerland. The sleuths wondered how this consignment from Europe reached Myanmar and was later pushed into India through the Moreh border in Manipur. The consignment was expected to reach Delhi where the packs would have been finally distributed in the Delhi-NCR market. 
 
How cleverly the consignment is transported from a remote Northeast border to the heart of the National Capital Region (NCR) is too interesting. For instance, the truck seized in Lucknow for smuggling cigarettes was owned by a transporter of Sikar district in Rajasthan. The transporter registered the truck in Haryana and later on re-registered the same truck with Nagaland transport authorities. So while the number plate of the truck bears Nagaland registration, the fast tag, recorded on several highway tolls, bears a Haryana registration number." At every stage, smugglers create such layers to hide their identity. From fake registration plates of trucks to fake fast tags, and from forged Aadhar cards to sim cards, all documents used by them are usually fake. In fact, more often even the gang members do not know the actual consignee," a source disclosed to IANS. 
 
Apart from the Myanmar-India border, the smuggling kingpins based in Dubai carry major operations through the sea route. On March 1, and later on January 10, this year, DRI sleuths, in two different raids found huge consignments of foreign cigarettes at Jawahar Lal Nehru port trust, in Navi Mumbai. "Dubai is a major transit point from where such consignments are shipped to India. Though illicit cigarettes are reportedly manufactured in Indonesia and Malaysia, the consignments are initially shipped to Dubai from southeast Asia and then re-routed to Mumbai. At present Myanmar and Dubai are two major transit points for smuggling contraband items to India. The DRI sleuths have been tracking these syndicates round on a 24-hour basis, but we need more specific inputs, primarily from the insiders or the public informers to wipe out the crime which is incurring heavy tax losses to the country," D.P. Dash, former Director-General of DRI suggested.

Even as Covid protocols restrict international and domestic transport, the cross border crime syndicates continue to make big money by smuggling truckloads of 'sin goods' into India through land and sea routes.

Even as Covid protocols restrict international and domestic transport, the cross border crime syndicates continue to make big money by smuggling truckloads of 'sin goods' into India through land and sea routes. Two major transit hubs, Tamu (Myanmar) and Dubai have emerged as bases of top smuggling syndicates, involved in pushing large consignments of branded cigarettes, seen as the most lucrative commodity having profit margins much higher than gold. Trailing illicit factories in Malaysia and Indonesia, Indian agencies have recently busted a Myanmar based crime syndicate that had been pushing truckloads of foreign brand cigarettes, primarily Marlboro, 555, and Esse Lights worth several crores. Confirming to IANS, the Commissioner of Customs (Preventive), V.P. Shukla said that his team seized two truckloads of branded cigarettes in the past two months in Uttar Pradesh, bearing Nagaland number plates. "It`s a very sensitive investigation, I would not comment more on the issue," said Shukla, a 1993 batch IRS officer, known for busting several smuggling rings active in India. Elaborating on why cigarettes have become the most lucrative sin good, even more, profitable than drugs and the yellow metal, former Chief of Directorate of Revenue Intelligence (DRI), D.P. Dash revealed, "Due to low production cost and very high rate of taxes on cigarettes, the profit in smuggling this item is by far the highest. The risk too, in comparison to smuggling drugs and fake currency, is minimum while dealing in contraband cigarettes. Therefore, for the underworld kingpins, `buttlegging` is the most sought after crime these days." In fact, according to the estimates of the US Department of State, buttlegging or illicit trade in cigarettes is causing a worldwide tax loss of over US$ 50 billion annually. India also happens to incur major losses as crime syndicates active in the sub-continent now focus primarily on buttlegging. In the season of the pandemic, it`s not gold but cigarettes, where smuggling rings are trying to make big money. "As purchasing power gets a little tight, people might be shy of investing in jewellery or even gold, but those addicted to smoking won`t quit the stick easily. Besides, the retail distribution chains selling cigarettes, like pan shops or grocery stores continue to operate during lockdown or curfews. So this illicit trade goes on," said a Customs officer associated with a team that busted one of the biggest cigarette smuggling rings during a raid at Nehru Port Trust, in Navi Mumbai, early last month. According to this officer, the syndicates may be active but DRI sleuths are playing a vital role in dismantling smuggling rings involved in pushing sin goods and contraband narcotics into the country. Top sources in Customs said that Delhi, Mumbai, Chennai and Bangalore are major hubs of distribution of contraband cigarettes. On Tuesday (April 20) when a truckload of foreign cigarettes, bearing a fake Nagaland number plate was passing through Lucknow, the Customs were quick to seize the consignment, worth over Rs 2 crore. Sources said that three smugglers were arrested on the spot. Thousands of cigarette packs recovered from the smugglers had a barcode which revealed that big consignment of Marlboro brand of cigarettes was diverted from the duty-free shops in Switzerland. The sleuths wondered how this consignment from Europe reached Myanmar and was later pushed into India through the Moreh border in Manipur. The consignment was expected to reach Delhi where the packs would have been finally distributed in the Delhi-NCR market. How cleverly the consignment is transported from a remote Northeast border to the heart of the National Capital Region (NCR) is too interesting. For instance, the truck seized in Lucknow for smuggling cigarettes was owned by a transporter of Sikar district in Rajasthan. The transporter registered the truck in Haryana and later on re-registered the same truck with Nagaland transport authorities. So while the number plate of the truck bears Nagaland registration, the fast tag, recorded on several highway tolls, bears a Haryana registration number." At every stage, smugglers create such layers to hide their identity. From fake registration plates of trucks to fake fast tags, and from forged Aadhar cards to sim cards, all documents used by them are usually fake. In fact, more often even the gang members do not know the actual consignee," a source disclosed to IANS. Apart from the Myanmar-India border, the smuggling kingpins based in Dubai carry major operations through the sea route. On March 1, and later on January 10, this year, DRI sleuths, in two different raids found huge consignments of foreign cigarettes at Jawahar Lal Nehru port trust, in Navi Mumbai. "Dubai is a major transit point from where such consignments are shipped to India. Though illicit cigarettes are reportedly manufactured in Indonesia and Malaysia, the consignments are initially shipped to Dubai from southeast Asia and then re-routed to Mumbai. At present Myanmar and Dubai are two major transit points for smuggling contraband items to India. The DRI sleuths have been tracking these syndicates round on a 24-hour basis, but we need more specific inputs, primarily from the insiders or the public informers to wipe out the crime which is incurring heavy tax losses to the country," D.P. Dash, former Director-General of DRI suggested.

In pandemic, it's not gold but cigarettes where smugglers are making money

A prominent order of US Catholic priests has created a foundation to raise a reported $100 million for the descendants of the slaves it once owned and sold and to promote racial reconciliation across the country.&nbsp;

The Jesuit priests'&nbsp;foundation is named&nbsp;Descendants Truth &amp; Reconciliation Foundation&nbsp;and is a partnership among descendants of both the enslaved and enslavers.&nbsp;

"In a landmark undertaking in the pursuit of racial healing and justice, descendants of ancestors enslaved and sold by the Jesuits and the Jesuits of the United States have announced a partnership to create the Descendants Truth &amp; Reconciliation Foundation", Jesuit priests said in a statement on Monday.&nbsp;

The partnership is supported by JPMorgan Chase, according to the statement.&nbsp;

The New York Times reported the foundation aims to raise $100 million and described it as&nbsp;'one of the largest efforts by an institution to atone for slavery'.&nbsp;

The foundation said descendants of the Jesuits'&nbsp;slaves had rejected individual cash settlements in&nbsp;favour&nbsp;of a substantial investment that could improve lives for generations to come.&nbsp;

The idea of reparations to Black people for slavery has been around for a long time and gained new urgency last year as anti-racism protests spread across the United States and the rest of the world following the death of George Floyd after a police officer knelt on his neck for nearly nine minutes.&nbsp;

During last year's Democratic primaries many candidates supported the idea of reparations. US President Joe Biden said at the time that he supported studying how reparations could be part of larger efforts to address systemic racism.&nbsp;

"For more than 400 years, our country has denied the persistent human destruction caused by slavery and the conscious and unconscious racism that divides our communities and nation," said Joseph Stewart, acting president of the foundation.&nbsp;

Stewart is one of more than a thousand descendants of Isaac Hawkins, an enslaved man,&nbsp;who was sold to save the Jesuits'&nbsp;Georgetown University from financial ruin. In 1838, 272 enslaved men, women and children were sold by the Jesuits to plantation owners in Louisiana.&nbsp;

(With inputs from agencies)&nbsp;

A prominent order of US Catholic priests has created a foundation to raise a reported $100 million for the descendants of the slaves it once owned and sold and to promote racial reconciliation across the country.

A prominent order of US Catholic priests has created a foundation to raise a reported $100 million for the descendants of the slaves it once owned and sold and to promote racial reconciliation across the country. The Jesuit priests' foundation is named Descendants Truth & Reconciliation Foundation and is a partnership among descendants of both the enslaved and enslavers. "In a landmark undertaking in the pursuit of racial healing and justice, descendants of ancestors enslaved and sold by the Jesuits and the Jesuits of the United States have announced a partnership to create the Descendants Truth & Reconciliation Foundation", Jesuit priests said in a statement on Monday. The partnership is supported by JPMorgan Chase, according to the statement. The New York Times reported the foundation aims to raise $100 million and described it as 'one of the largest efforts by an institution to atone for slavery'. The foundation said descendants of the Jesuits' slaves had rejected individual cash settlements in favour of a substantial investment that could improve lives for generations to come. The idea of reparations to Black people for slavery has been around for a long time and gained new urgency last year as anti-racism protests spread across the United States and the rest of the world following the death of George Floyd after a police officer knelt on his neck for nearly nine minutes. During last year's Democratic primaries many candidates supported the idea of reparations. US President Joe Biden said at the time that he supported studying how reparations could be part of larger efforts to address systemic racism. "For more than 400 years, our country has denied the persistent human destruction caused by slavery and the conscious and unconscious racism that divides our communities and nation," said Joseph Stewart, acting president of the foundation. Stewart is one of more than a thousand descendants of Isaac Hawkins, an enslaved man, who was sold to save the Jesuits' Georgetown University from financial ruin. In 1838, 272 enslaved men, women and children were sold by the Jesuits to plantation owners in Louisiana. (With inputs from agencies)

US Jesuit priests to raise $100 million for descendants of slaves 

London now has the highest concentration of dollar millionaires in the entire world, trumping New York City.

At least 875,000 people from London are dollar millionaires, ie, they possess asserts worth more than $10,15,812 (£720,000), based on the annual study undertaken of the world’s wealthiest people by Knight Frank - a property consultant entity.

This implies that one out of every 10 people in London is now a dollar millionaire. The data highlights the widening inequality gap, which has become steeper owing to the ongoing COVID-19 pandemic. According to government figures, over 2.5 million people in London are classified as “living in poverty”.

The report adds that 874,354 people in London possess assets like property which amounts to over $1 million, making them “high net worth individuals”.

Also read:&nbsp;<a href="http://13.235.153.162/world/europes-biggest-haul-23-tonnes-of-cocaine-seized-by-customs-authorities-365960" hreflang="en">'Europe's biggest haul': 23 tonnes of cocaine seized by customs authorities</a> 
 
In New York, the number stands at 820,000. Knight Frank’s global head of research, Liam Bailey told The Guardian the following - &nbsp;“The main point is that our HNWI threshold is $1m, so £720,000, and with average house prices in London at £514,000, a lot of households fall into the HNWI category… Ironically, the high cost of housing in London is the main driver for categorising so many households as being wealthy.”

The research also found that London that the most number of “prime” homes for any city in the world. There are 68,000 such prime units costing over £2m each.

Also read:&nbsp;<a href="http://13.235.153.162/world/uk-ministry-confirms-second-hq-outside-london-365045" hreflang="en">UK ministry confirms second HQ outside London</a>

Expensive property sales have gone up in London during the pandemic, with foreign investors exploiting the drop in the value of the pound and tax advantages in the aftermath of Brexit.

The survey also named London the rich person’s city of choice in terms of lifestyle, and what it offers - opera houses, theatres, universities, sports, shopping facilities, and Michelin-starred restaurants.

London now has the highest concentration of dollar millionaires in the entire world, trumping New York City. At least 875,000 people from London are dollar millionaires, ie, they possess asserts worth more than $10,15,812 (£720,000), based on the annual study undertaken of the world’s wealthiest people by Knight Frank - a property consultant entity.

London now has the highest concentration of dollar millionaires in the entire world, trumping New York City. At least 875,000 people from London are dollar millionaires, ie, they possess asserts worth more than $10,15,812 (£720,000), based on the annual study undertaken of the world’s wealthiest people by Knight Frank - a property consultant entity. This implies that one out of every 10 people in London is now a dollar millionaire. The data highlights the widening inequality gap, which has become steeper owing to the ongoing COVID-19 pandemic. According to government figures, over 2.5 million people in London are classified as “living in poverty”. The report adds that 874,354 people in London possess assets like property which amounts to over $1 million, making them “high net worth individuals”. Also read: 'Europe's biggest haul': 23 tonnes of cocaine seized by customs authorities In New York, the number stands at 820,000. Knight Frank’s global head of research, Liam Bailey told The Guardian the following - “The main point is that our HNWI threshold is $1m, so £720,000, and with average house prices in London at £514,000, a lot of households fall into the HNWI category… Ironically, the high cost of housing in London is the main driver for categorising so many households as being wealthy.” The research also found that London that the most number of “prime” homes for any city in the world. There are 68,000 such prime units costing over £2m each. Also read: UK ministry confirms second HQ outside London Expensive property sales have gone up in London during the pandemic, with foreign investors exploiting the drop in the value of the pound and tax advantages in the aftermath of Brexit. The survey also named London the rich person’s city of choice in terms of lifestyle, and what it offers - opera houses, theatres, universities, sports, shopping facilities, and Michelin-starred restaurants.

London now has the most number of dollar millionaires, trumping New York City

One thing the COVID-19 pandemic has taught us is how hard people work across industries, and how interdependent we all are.&nbsp;Keeping in mind the Christmas spirit even during such grim times, a patron in a bar in Ohio tipped the restaurant $5,600 (Rs 4 lakh).&nbsp; 
 
A guest named “Billy” went to Souk Mediterranean Kitchen and Bar in Toledo to eat food, but came out making every employee smile - even those that weren’t on shift. After tipping the restaurant so generously, Billy received a lot of praise online.

&nbsp;

In Pics:&nbsp;<a href="https://www.wionews.com/photos/santa-claus-spotted-distributing-masks-to-thai-kids-on-elephants-351780" hreflang="en">Santa Claus spotted distributing masks to Thai kids... on elephants!</a>

The owner of the restaurant - Chef Moussa shared the image of the bill on Souk’s Facebook page. He added how December is usually when the staff earns money to buy gifts, and to fix up their homes.

“This is not an ordinary December. Normally this is a month when our employees work extra and guests tip generously. December is a month for them to earn money to buy family gifts, put a bit into savings and take care of bills or repairs that have been lingering. With Covid restrictions and guidelines, that was not going to happen for them this year. So this heartfelt generosity was deeply needed and very appreciated”, the post read. 
&nbsp;

<div class="fb-post" data-href="https://www.facebook.com/SoukMediterranean/posts/434293677944918" data-show-text="true" data-width="500">
<blockquote cite="https://www.facebook.com/SoukMediterranean/posts/434293677944918" class="fb-xfbml-parse-ignore">
“Be the reason someone believes in the goodness of people.”   This really happened. Last night one of our guests left a...
Posted by <a href="https://www.facebook.com/SoukMediterranean/">Souk Mediterranean Kitchen &amp; Bar</a> on&nbsp;<a href="https://www.facebook.com/SoukMediterranean/posts/434293677944918">Sunday, 13 December 2020</a></blockquote>
</div>

It added - “The words “Thank You” seem inadequate for this gift... but Thank You Billy, for your generous spirit and for making a difference in the lives of people I care a lot about this holiday season”.

&nbsp;

In Pics:&nbsp;<a href="https://www.wionews.com/photos/santa-claus-bikers-parade-tokyo-streets-for-victims-of-child-abuse-351147">Santa Claus bikers parade Tokyo streets for victims of child abuse</a> 
 
Chef Salloukh spoke to CNN and claimed that there were a “lot of tears”.   
“Your restaurant staff becomes your family and everyone cares about each other. I've been staying out of the kitchen to give employees hours to get through and put gifts under the tree for their kids, so this was so huge for us”, he told CNN.

The actual payable amount was just $0.01. Owing to the tip, every employee was able to take home $200 during the holidays. Even the staff members who were not on duty during the time received the extra tips! 
 
People on Facebook were quick to spot the post and rushed to thank Billy for his sweet gesture during such times when restaurants have lost millions of dollars, and have had to lay off people due to restrictions put forward by COVID-19.

One thing the COVID-19 pandemic has taught us is how hard people work across industries, and how interdependent we all are. Keeping in mind the Christmas spirit even during such grim times, a patron in a bar in Ohio tipped the restaurant $5,600 (Rs 4 lakh).

One thing the COVID-19 pandemic has taught us is how hard people work across industries, and how interdependent we all are. Keeping in mind the Christmas spirit even during such grim times, a patron in a bar in Ohio tipped the restaurant $5,600 (Rs 4 lakh). A guest named “Billy” went to Souk Mediterranean Kitchen and Bar in Toledo to eat food, but came out making every employee smile - even those that weren’t on shift. After tipping the restaurant so generously, Billy received a lot of praise online. In Pics: Santa Claus spotted distributing masks to Thai kids... on elephants! The owner of the restaurant - Chef Moussa shared the image of the bill on Souk’s Facebook page. He added how December is usually when the staff earns money to buy gifts, and to fix up their homes. “This is not an ordinary December. Normally this is a month when our employees work extra and guests tip generously. December is a month for them to earn money to buy family gifts, put a bit into savings and take care of bills or repairs that have been lingering. With Covid restrictions and guidelines, that was not going to happen for them this year. So this heartfelt generosity was deeply needed and very appreciated”, the post read. “Be the reason someone believes in the goodness of people.”   This really happened. Last night one of our guests left a... Posted by Souk Mediterranean Kitchen & Bar on Sunday, 13 December 2020 It added - “The words “Thank You” seem inadequate for this gift... but Thank You Billy, for your generous spirit and for making a difference in the lives of people I care a lot about this holiday season”. In Pics: Santa Claus bikers parade Tokyo streets for victims of child abuse Chef Salloukh spoke to CNN and claimed that there were a “lot of tears”.   “Your restaurant staff becomes your family and everyone cares about each other. I've been staying out of the kitchen to give employees hours to get through and put gifts under the tree for their kids, so this was so huge for us”, he told CNN. The actual payable amount was just $0.01. Owing to the tip, every employee was able to take home $200 during the holidays. Even the staff members who were not on duty during the time received the extra tips! People on Facebook were quick to spot the post and rushed to thank Billy for his sweet gesture during such times when restaurants have lost millions of dollars, and have had to lay off people due to restrictions put forward by COVID-19.

Guest in US restaurant leaves $5,600 tip bringing holiday cheer to many

A Dubai-based British citizen is alleged to have defrauded the Danish treasury of $2 billion. Sanjay Shah, however, has so far denied wrongdoing.

Despite his denial, the man has never been shy about the source of his wealth. When he bought a $1.3 million yacht a few years ago, he named it ‘Solo’.

Shah had a humble beginning as he was raised by parents of Indian ancestry who had immigrated from Kenya. He dropped out of college in 1992, citing a lack of motivation, and worked at a number of large financial firms. In 2007, he started working at the London office of Rabobank, a Dutch company, on the dividend arbitrage desk where he learned about cum-ex trades.

Shah’s cum-ex tradings resulted in a large-scale defrauding of the treasury — something he had learnt from Britisher Martin Shields and Kiwi Paul Mora, who, along with hundreds of bankers, lawyers and investors, made off with a staggering $60 billion, all of it siphoned from the state coffers of European countries between 2006 and 2011.

This kind of trading is a monetary manoeuvre to avoid double taxation of investment profits that plays out like high finance’s answer to a David Copperfield stage illusion. To be precise, cum-ex trades produced two refunds for dividend tax paid on one basket of stocks.

This was repeated over and over again until it became a cult. Germany was the hardest hit; followed by Spain.

Shah had a major role to play in Germany’s misfortune. No criminal charges were, however, filed against him.

With the financial crisis in full swing, cum-ex was one of the few reliable moneymakers, and the trade boosted careers throughout the City of London.&nbsp;

But when the European sniffed the malpractice being carried out, they launched a probe modelled on the investigations into transactions handled by Bank of America.

Several banks have now been fined (Deutsche Bank, UniCredit), one has apologised (Macquarie), others have pledged cooperation with investigators (Santander, Deutsche Bank) and two are insolvent.&nbsp;

Shah’s fate, by that measure, still hangs by a thin thread. In his defence, however, he maintains&nbsp;the trades were legal, and that the&nbsp;Danish tax systems were incompetent.

A Dubai-based British citizen is alleged to have defrauded the Danish treasury of $2 billion. Sanjay Shah, however, has so far denied wrongdoing. Despite his denial, the man has never been shy about the source of his wealth.

A Dubai-based British citizen is alleged to have defrauded the Danish treasury of $2 billion. Sanjay Shah, however, has so far denied wrongdoing. Despite his denial, the man has never been shy about the source of his wealth. When he bought a $1.3 million yacht a few years ago, he named it ‘Solo’. Shah had a humble beginning as he was raised by parents of Indian ancestry who had immigrated from Kenya. He dropped out of college in 1992, citing a lack of motivation, and worked at a number of large financial firms. In 2007, he started working at the London office of Rabobank, a Dutch company, on the dividend arbitrage desk where he learned about cum-ex trades. Shah’s cum-ex tradings resulted in a large-scale defrauding of the treasury — something he had learnt from Britisher Martin Shields and Kiwi Paul Mora, who, along with hundreds of bankers, lawyers and investors, made off with a staggering $60 billion, all of it siphoned from the state coffers of European countries between 2006 and 2011. This kind of trading is a monetary manoeuvre to avoid double taxation of investment profits that plays out like high finance’s answer to a David Copperfield stage illusion. To be precise, cum-ex trades produced two refunds for dividend tax paid on one basket of stocks. This was repeated over and over again until it became a cult. Germany was the hardest hit; followed by Spain. Shah had a major role to play in Germany’s misfortune. No criminal charges were, however, filed against him. With the financial crisis in full swing, cum-ex was one of the few reliable moneymakers, and the trade boosted careers throughout the City of London. But when the European sniffed the malpractice being carried out, they launched a probe modelled on the investigations into transactions handled by Bank of America. Several banks have now been fined (Deutsche Bank, UniCredit), one has apologised (Macquarie), others have pledged cooperation with investigators (Santander, Deutsche Bank) and two are insolvent. Shah’s fate, by that measure, still hangs by a thin thread. In his defence, however, he maintains the trades were legal, and that the Danish tax systems were incompetent.

Person of Indian origin features in Europe’s biggest tax heist

Trial runs for the Chinese <a href="https://www.wionews.com/world/paypal-abandons-facebook-backed-libra-cryptocurrency-group-253843">digital currently</a> are underway in two cities, Shenzhen and Suzhou.

Once the trial period ends, the currency will be available through banks and consumers shall have access to it.&nbsp;

What made China go digital?

China recently banned BitCoins, a global cryptocurrency. The trade within the dictates of digital currency is anonymous and untraceable, effectively out of the State's control. China intends to prevent this by curating a digital currency of its own.&nbsp;

Digital currencies will reduce cost, boost productivity, and be more reliable.

For the Chinese government, the biggest advantage is the ability to track it. The authorities will know who's evading tax and whether any laundering is taking place.

The hidden dangers

Many critics of <a href="https://www.wionews.com/world/g7-worried-over-facebooks-libra-cryptocurrency-french-official-236753">cryptocurrency</a> believe that individual privacy and financial autonomy will be compromised and might open more appendages of control for China, which has a poor record on this front.

However, the digital currency module could also make China a global leader in economic trade, further accentuating its position in the global hierarchy.

In 2014, China overtook the United States as the biggest global goods trader.

To top it all off, China is the leading exporter in the world and has remained in that spot for the last ten years. Even then, international trade is dictated by Americans, for all transactions are recorded in USD.

China's digital currency will rid the Chinese trade ecosystem of the Dollar monopoly.

There is a huge market for digital currency. For instance, the Chinese currency share in terms of foreign trade was one per cent in 2010. In the four years that followed, it jumped by 28 per cent.

In 2016, the International Monetary Fund included the Chinese Renminbi or RMB as an international reserve.

Last year, Germany dismissed <a href="https://www.wionews.com/world/facebook-should-not-be-trusted-with-crazy-cryptocurrency-plan-us-senators-236538">digital currency</a> as "too risky" an idea.

Trial runs for the Chinese digital currently are underway in two cities, Shenzhen and Suzhou. Once the trial period ends, the currency will be available through banks and consumers shall have access to it.

Trial runs for the Chinese digital currently are underway in two cities, Shenzhen and Suzhou. Once the trial period ends, the currency will be available through banks and consumers shall have access to it. What made China go digital? China recently banned BitCoins, a global cryptocurrency. The trade within the dictates of digital currency is anonymous and untraceable, effectively out of the State's control. China intends to prevent this by curating a digital currency of its own. Digital currencies will reduce cost, boost productivity, and be more reliable. For the Chinese government, the biggest advantage is the ability to track it. The authorities will know who's evading tax and whether any laundering is taking place. The hidden dangers Many critics of cryptocurrency believe that individual privacy and financial autonomy will be compromised and might open more appendages of control for China, which has a poor record on this front. However, the digital currency module could also make China a global leader in economic trade, further accentuating its position in the global hierarchy. In 2014, China overtook the United States as the biggest global goods trader. To top it all off, China is the leading exporter in the world and has remained in that spot for the last ten years. Even then, international trade is dictated by Americans, for all transactions are recorded in USD. China's digital currency will rid the Chinese trade ecosystem of the Dollar monopoly. There is a huge market for digital currency. For instance, the Chinese currency share in terms of foreign trade was one per cent in 2010. In the four years that followed, it jumped by 28 per cent. In 2016, the International Monetary Fund included the Chinese Renminbi or RMB as an international reserve. Last year, Germany dismissed digital currency as "too risky" an idea.

Trial run for Chinese cryptocurrency underway in two cities

World Bank Comes Up With A New Plan to Provide Aid To China.

Gravitas: Why is China Borrowing From World Bank?

<a href="https://www.wionews.com/world/new-zealand-gun-owners-protest-over-tightening-of-laws-265383">New&nbsp;Zealand</a>&nbsp;moved to&nbsp;ban&nbsp;large&nbsp;foreign&nbsp;political&nbsp;donations&nbsp;and misleading social media advertisements Tuesday amid concerns about offshore interference in next year's general election.

Justice Minister Andrew Little said the move,&nbsp;which bars&nbsp;donations&nbsp;over NZ$50 (US$33),&nbsp;was aimed at protecting&nbsp;New&nbsp;Zealand's democracy from a growing international threat.

"We need to protect the integrity of our elections. These changes will reduce the risk of&nbsp;foreign&nbsp;money influencing our election outcomes," he said.

"We don't want our elections to go the way of recent overseas examples where&nbsp;foreign&nbsp;interference appears to have been at play."

Little did not say which countries prompted the&nbsp;ban&nbsp;but experts have consistently pointed the finger at China.

"It's in China's interest to extend influence in&nbsp;New&nbsp;Zealand, there's nothing wrong with that,&nbsp;that's what great powers do," Rodney Jones, a&nbsp;New&nbsp;Zealand&nbsp;economist based in Beijing told Newshub earlier this year.

"It's up to us. We need to set boundaries well ahead of time."

US intelligence says&nbsp;foreign&nbsp;interference played a major part in the 2016 American presidential election and a Canadian intelligence report this year found cyber-attackers targeted half the national elections held in major democracies in 2018.

New&nbsp;Zealand&nbsp;goes to the polls in late 2020, when centre-left Prime Minister Jacinda Ardern will seek a second term. &nbsp;&nbsp;

Under existing laws,&nbsp;foreign&nbsp;political&nbsp;donations&nbsp;in&nbsp;New&nbsp;Zealand&nbsp;are capped at NZ$1,500 (US$975), although some say loopholes effectively raise the threshold to NZ$30,000.

The&nbsp;new&nbsp;limit for&nbsp;foreign&nbsp;or anonymous&nbsp;donations&nbsp;will be NZ$50.

"There's no need for anyone other than&nbsp;<a href="https://www.wionews.com/business-economy/air-new-zealand-named-top-carrier-globally-in-annual-airline-awards-264722">New&nbsp;Zealanders</a> to donate to our&nbsp;political&nbsp;parties or seek to influence our elections," Little said.

The changes also require online&nbsp;political&nbsp;advertisements to contain details about their creators, which Little said was aimed at stopping the "avalanche of fake news social media ads" seen during overseas elections.

"Anonymous online advertisements aimed at interfering with our democracy will be prohibited," he said.&nbsp;

"If someone wants to advertise online they need to say who they are, the same as if the ad&nbsp;was published in a newspaper."

New&nbsp;Zealand's spy chief raised concerns about&nbsp;foreign&nbsp;political&nbsp;donations&nbsp;during a rare public appearance at a parliamentary committee hearing in April.

"In broad terms, I can say that we have seen activities by state actors that concern us," &nbsp;New&nbsp;Zealand&nbsp;Security Intelligence Service director-general Rebecca Kitteridge said.

The measures must now pass parliament, where the governing coalition has a majority.

New Zealand moved to ban large foreign political donations and misleading social media advertisements Tuesday amid concerns about offshore interference in next year's general election.

New Zealand moved to ban large foreign political donations and misleading social media advertisements Tuesday amid concerns about offshore interference in next year's general election. Justice Minister Andrew Little said the move, which bars donations over NZ$50 (US$33), was aimed at protecting New Zealand's democracy from a growing international threat. "We need to protect the integrity of our elections. These changes will reduce the risk of foreign money influencing our election outcomes," he said. "We don't want our elections to go the way of recent overseas examples where foreign interference appears to have been at play." Little did not say which countries prompted the ban but experts have consistently pointed the finger at China. "It's in China's interest to extend influence in New Zealand, there's nothing wrong with that, that's what great powers do," Rodney Jones, a New Zealand economist based in Beijing told Newshub earlier this year. "It's up to us. We need to set boundaries well ahead of time." US intelligence says foreign interference played a major part in the 2016 American presidential election and a Canadian intelligence report this year found cyber-attackers targeted half the national elections held in major democracies in 2018. New Zealand goes to the polls in late 2020, when centre-left Prime Minister Jacinda Ardern will seek a second term. Under existing laws, foreign political donations in New Zealand are capped at NZ$1,500 (US$975), although some say loopholes effectively raise the threshold to NZ$30,000. The new limit for foreign or anonymous donations will be NZ$50. "There's no need for anyone other than New Zealanders to donate to our political parties or seek to influence our elections," Little said. The changes also require online political advertisements to contain details about their creators, which Little said was aimed at stopping the "avalanche of fake news social media ads" seen during overseas elections. "Anonymous online advertisements aimed at interfering with our democracy will be prohibited," he said. "If someone wants to advertise online they need to say who they are, the same as if the ad was published in a newspaper." New Zealand's spy chief raised concerns about foreign political donations during a rare public appearance at a parliamentary committee hearing in April. "In broad terms, I can say that we have seen activities by state actors that concern us," New Zealand Security Intelligence Service director-general Rebecca Kitteridge said. The measures must now pass parliament, where the governing coalition has a majority.

New Zealand to ban foreign political donations over $33

Why Are Billionaires Losing Money? #Gravitas

Gravitas: Are The World's Richest Getting Poorer?

The Central Bureau of Investigation (CBI) on Tuesday conducted searches at around 187 places in various states and Union Territories and has registered around 42 cases of bank frauds involving approximately Rs 7,200 crore. Searches are still in progress. 
 
The searches are being conducted in Andhra Pradesh, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, Dadra and Nagar Haveli related to bank fraud cases. 
 
The banks involved (including consortium members) are Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, State Bank of India, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Punjab National Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India, read a statement from the CBI. 
 
The places being searched were in Delhi, Gurugram, Chandigarh, Ludhiana, Dehradun, Noida, Baramati, Mumbai, Thane, Silvassa, Kalyan, Amritsar, Faridabad, Bengaluru, Tirupur, Chennai, Madurai, Quilon, Cochin, Bhavnagar, Surat, Ahmedabad, Kanpur, Ghaziabad, Varanasi, Chandauli, Bhatinda, Gurdaspur, Morena, Kolkata, Patna, Krishna, Hyderabad and Bhopal. 
 
Out of these 42 cases, there are four cases of more than Rs 1000 crore (approximately) and 11 cases of fraud amount of Rs 100 crore (approximately) to Rs 1000 crore (approximately), CBI statement added. 
 
Among the prominent cases registered include - a case against a Malad (East) Mumbai/Bhopal based private company; its five Directors/Additional Director/Guarantors and unknown public servants on the allegations that the accused Directors and Guarantors of the company engaged in bulk trading of agro commodities, in connivance with unknown bank officials and others fraudulently availed credit facilities of Rs. 6000 crore (approximately) from SBI, Bhopal by resorting to falsification of accounts and forgery of documents, such as the bill of lading, falsely showing the movement of goods etc. 
 
During searches, incriminating documents have been recovered so far.

The Central Bureau of Investigation (CBI) on Tuesday conducted searches at around 187 places in various states and Union Territories and has registered around 42 cases of bank frauds involving approximately Rs 7,200 crore.

The Central Bureau of Investigation (CBI) on Tuesday conducted searches at around 187 places in various states and Union Territories and has registered around 42 cases of bank frauds involving approximately Rs 7,200 crore. Searches are still in progress. The searches are being conducted in Andhra Pradesh, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, Dadra and Nagar Haveli related to bank fraud cases. The banks involved (including consortium members) are Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, State Bank of India, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Punjab National Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India, read a statement from the CBI. The places being searched were in Delhi, Gurugram, Chandigarh, Ludhiana, Dehradun, Noida, Baramati, Mumbai, Thane, Silvassa, Kalyan, Amritsar, Faridabad, Bengaluru, Tirupur, Chennai, Madurai, Quilon, Cochin, Bhavnagar, Surat, Ahmedabad, Kanpur, Ghaziabad, Varanasi, Chandauli, Bhatinda, Gurdaspur, Morena, Kolkata, Patna, Krishna, Hyderabad and Bhopal. Out of these 42 cases, there are four cases of more than Rs 1000 crore (approximately) and 11 cases of fraud amount of Rs 100 crore (approximately) to Rs 1000 crore (approximately), CBI statement added. Among the prominent cases registered include - a case against a Malad (East) Mumbai/Bhopal based private company; its five Directors/Additional Director/Guarantors and unknown public servants on the allegations that the accused Directors and Guarantors of the company engaged in bulk trading of agro commodities, in connivance with unknown bank officials and others fraudulently availed credit facilities of Rs. 6000 crore (approximately) from SBI, Bhopal by resorting to falsification of accounts and forgery of documents, such as the bill of lading, falsely showing the movement of goods etc. During searches, incriminating documents have been recovered so far.

CBI unearths 42 cases of bank fraud after raids at 172 locations

A concentrated burst of interest rate cutting and other measures to loosen global financial conditions by the world's central bankers looks to have largely run its course, and policymakers now appear content to wait and see if their handiwork staves off a deeper slowdown in the months ahead.

Led by the US&nbsp;Federal Reserve's nearly yearlong pivot away from a tightening bias, rate-setters from Australia to Brazil and the eurozone to the Philippines have lowered borrowing costs in recent months to blunt the headwinds from global trade tensions headlined by the standoff between Washington and Beijing.

It is an easing wave that appears to have crested for now.

For their parts, the Big Three in the central bankersphere - the Fed, European Central Bank and Bank of Japan - are in no rush to drive rates any lower, especially in Europe and Japan where they are already in negative territory.

The Fed last week cut rates for the third time since July, but officials emerged from the meeting with a near-explicit declaration to expect no more for the moment.

In Europe, meanwhile, a changing of the guard at a deeply divided ECB likely means that its September rate cut will not be followed in the near future, with their focus instead being on jawboning the trading bloc's political leaders to step up their own efforts at a stimulus.

In Japan, a BOJ weary of expending its limited ammunition has so far avoided cutting rates at all in the latest global wave. It would prefer to hold fire for as long as possible, relying instead of pledges of more accommodation in the future should it be needed.

And in the developing world, the pace of easing has slackened notably from a crescendo reached in August, although October marked the ninth straight month of net rate cuts by emerging market central banks.

How long a pause?

To be sure, the factors allowing policymakers to take a breather may prove fleeting - on the trade front in particular.

In mid-October, the International Monetary Fund pinned the blame on the US-China trade war when it slashed its global growth forecast to the slowest pace since the 2008-2009 financial crisis.

The dispute, initiated by US&nbsp;President Donald Trump, is in a state of detente as the two sides work to complete "Phase One" of a wider deal. But the erratic American president has abruptly changed stance before and may again.

Still, the messaging in the past two weeks from central bankers in Frankfurt and Tokyo was consistent with the Fed's new stance: Let's see how what we've done plays out.

"We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook," Fed Chair Jerome Powell said in his press conference last week after the US central bank cut its benchmark rate by a quarter-point to a range of 1.50-1.75 per cent.

A solid upside surprise on job growth in October only cemented that view. "We've done the adjustment," Fed Vice Chair Richard Clarida said in an interview on Bloomberg TV after Friday's payrolls report.

The ECB has restarted a 2.6 trillion euro bond-buying program after cutting its interest rate on deposits in September. Back then investors were betting on two further rate cuts by March of next year, but have since pared their expectations as deep divisions emerged among ECB policymakers on the path ahead.

New ECB President Christine Lagarde, who took office on Friday, will have to heal a rift between representatives of cash-rich countries such as Germany, the Netherlands and France, who opposed the decision to resume bond purchases, and the struggling periphery.

The former managing director of the IMF has struck a balanced tone, saying an accommodative monetary policy was needed but also had side effects that needed monitoring.

The issue is that the economic benefits of pushing the deposit rate, currently at -0.5 per cent, further below zero are dubious. Mario Draghi, who just turned over the reins to Lagarde, acknowledged in his farewell speech that the negative rate was "not delivering the same degree of stimulus as in the past" because the return on investment in the economy had fallen.

The BOJ decided to hold fire on Thursday and instead buy time with a tweak to its forward guidance. It now pledges to keep rates ultra-low or even cut them for as long as necessary to gauge whether overseas risks have heightened enough to erode the economy's path toward achieving its 2 per cent&nbsp;inflation target.

While Governor Haruhiko Kuroda has stressed the BOJ still has room to deepen negative rates or take any other steps to spur growth, many analysts see last week's decision as underscoring the central bank's desperation in trying to save its dwindling ammunition for when the economy takes a turn for the worse.

Communication will remain a key challenge for the BOJ even under the new guidance, which removed a specific timeframe on how long interest rates will stay low.

"It's wise the BOJ ditched a calendar-based commitment. But it's hard to tell whether the BOJ committed to keeping rates long for a longer period than it previously did ... and how much lower it could bring down rates," said Nobuyasu Atago, a former BOJ official who is now chief economist at Okasan Securities.

A concentrated burst of interest rate cutting and other measures to loosen global financial conditions by the world's central bankers looks to have largely run its course, and policymakers now appear content to wait and see if their handiwork staves off a deeper slowdown in the months ahead.

A concentrated burst of interest rate cutting and other measures to loosen global financial conditions by the world's central bankers looks to have largely run its course, and policymakers now appear content to wait and see if their handiwork staves off a deeper slowdown in the months ahead. Led by the US Federal Reserve's nearly yearlong pivot away from a tightening bias, rate-setters from Australia to Brazil and the eurozone to the Philippines have lowered borrowing costs in recent months to blunt the headwinds from global trade tensions headlined by the standoff between Washington and Beijing. It is an easing wave that appears to have crested for now. For their parts, the Big Three in the central bankersphere - the Fed, European Central Bank and Bank of Japan - are in no rush to drive rates any lower, especially in Europe and Japan where they are already in negative territory. The Fed last week cut rates for the third time since July, but officials emerged from the meeting with a near-explicit declaration to expect no more for the moment. In Europe, meanwhile, a changing of the guard at a deeply divided ECB likely means that its September rate cut will not be followed in the near future, with their focus instead being on jawboning the trading bloc's political leaders to step up their own efforts at a stimulus. In Japan, a BOJ weary of expending its limited ammunition has so far avoided cutting rates at all in the latest global wave. It would prefer to hold fire for as long as possible, relying instead of pledges of more accommodation in the future should it be needed. And in the developing world, the pace of easing has slackened notably from a crescendo reached in August, although October marked the ninth straight month of net rate cuts by emerging market central banks. How long a pause? To be sure, the factors allowing policymakers to take a breather may prove fleeting - on the trade front in particular. In mid-October, the International Monetary Fund pinned the blame on the US-China trade war when it slashed its global growth forecast to the slowest pace since the 2008-2009 financial crisis. The dispute, initiated by US President Donald Trump, is in a state of detente as the two sides work to complete "Phase One" of a wider deal. But the erratic American president has abruptly changed stance before and may again. Still, the messaging in the past two weeks from central bankers in Frankfurt and Tokyo was consistent with the Fed's new stance: Let's see how what we've done plays out. "We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook," Fed Chair Jerome Powell said in his press conference last week after the US central bank cut its benchmark rate by a quarter-point to a range of 1.50-1.75 per cent. A solid upside surprise on job growth in October only cemented that view. "We've done the adjustment," Fed Vice Chair Richard Clarida said in an interview on Bloomberg TV after Friday's payrolls report. The ECB has restarted a 2.6 trillion euro bond-buying program after cutting its interest rate on deposits in September. Back then investors were betting on two further rate cuts by March of next year, but have since pared their expectations as deep divisions emerged among ECB policymakers on the path ahead. New ECB President Christine Lagarde, who took office on Friday, will have to heal a rift between representatives of cash-rich countries such as Germany, the Netherlands and France, who opposed the decision to resume bond purchases, and the struggling periphery. The former managing director of the IMF has struck a balanced tone, saying an accommodative monetary policy was needed but also had side effects that needed monitoring. The issue is that the economic benefits of pushing the deposit rate, currently at -0.5 per cent, further below zero are dubious. Mario Draghi, who just turned over the reins to Lagarde, acknowledged in his farewell speech that the negative rate was "not delivering the same degree of stimulus as in the past" because the return on investment in the economy had fallen. The BOJ decided to hold fire on Thursday and instead buy time with a tweak to its forward guidance. It now pledges to keep rates ultra-low or even cut them for as long as necessary to gauge whether overseas risks have heightened enough to erode the economy's path toward achieving its 2 per cent inflation target. While Governor Haruhiko Kuroda has stressed the BOJ still has room to deepen negative rates or take any other steps to spur growth, many analysts see last week's decision as underscoring the central bank's desperation in trying to save its dwindling ammunition for when the economy takes a turn for the worse. Communication will remain a key challenge for the BOJ even under the new guidance, which removed a specific timeframe on how long interest rates will stay low. "It's wise the BOJ ditched a calendar-based commitment. But it's hard to tell whether the BOJ committed to keeping rates long for a longer period than it previously did ... and how much lower it could bring down rates," said Nobuyasu Atago, a former BOJ official who is now chief economist at Okasan Securities.

Big central banks go into 'wait-and-see' mode

China's largely rubber-stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported late on Saturday.

China's central bank set up a research team in 2014 to explore launching its own digital currency to cut the costs of circulating traditional paper money and boost policymakers' control of money supply.

China's proposed new digital currency would bear some similarities to Facebook Inc's&nbsp;Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank official said last month.

China's cryptography law, which takes effect on January&nbsp;1, is aimed at "facilitating the development of the cryptography business and ensuring the security of cyberspace and information", the official Xinhua news agency said, citing parliament. The law states that the state encourages and supports the research and application of science and technology in cryptography and ensures confidentiality.

<a href="https://www.wionews.com/world/bitcoin-surges-above-11000-thanks-to-facebooks-currency-plans-230055">Facebook's proposed cryptocurrency</a> has sparked concerns among global regulators that it could quickly become a dominant form of digital payment and a channel for money laundering given the social network's massive cross-border reach.

Libra will be a digital currency backed by a reserve of real-world assets, including bank deposits and short-term government securities, and held by a network of custodians. Its structure is intended to foster trust and stabilise the price.

Like other cryptocurrencies, Libra transactions will be powered and recorded by a blockchain, which is a shared ledger of transactions maintained by a network of computers.

Chinese President Xi Jinping said last week that the country should accelerate the development of blockchain technology as a core for innovation.

China's largely rubber-stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported late on Saturday.

China's largely rubber-stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported late on Saturday. China's central bank set up a research team in 2014 to explore launching its own digital currency to cut the costs of circulating traditional paper money and boost policymakers' control of money supply. China's proposed new digital currency would bear some similarities to Facebook Inc's Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank official said last month. China's cryptography law, which takes effect on January 1, is aimed at "facilitating the development of the cryptography business and ensuring the security of cyberspace and information", the official Xinhua news agency said, citing parliament. The law states that the state encourages and supports the research and application of science and technology in cryptography and ensures confidentiality. Facebook's proposed cryptocurrency has sparked concerns among global regulators that it could quickly become a dominant form of digital payment and a channel for money laundering given the social network's massive cross-border reach. Libra will be a digital currency backed by a reserve of real-world assets, including bank deposits and short-term government securities, and held by a network of custodians. Its structure is intended to foster trust and stabilise the price. Like other cryptocurrencies, Libra transactions will be powered and recorded by a blockchain, which is a shared ledger of transactions maintained by a network of computers. Chinese President Xi Jinping said last week that the country should accelerate the development of blockchain technology as a core for innovation.

China passes cryptography law to gear up for digital currency

The United States government and the Bill and Melinda Gates Foundation pledged Wednesday to jointly invest $200 million over the next four years to achieve affordable gene therapy-based cures for sickle cell disease (SCD) and HIV.

The administration of President Donald Trump announced earlier this year its intention to end the HIV epidemic over the next decade and has also identified SCD, which disproportionately affects people of African descent, as a condition requiring greater attention.

Gene therapy is a relatively new area of medicine designed to replace faulty genes in the body that are responsible for a disorder and has been responsible for new treatments for blindness and certain types of leukaemia.

But the treatments are complex and costly, ruling them out as an option for most of the world.

Francis Collins, director of the National Institutes of Health, said the collaboration would focus therefore on "access, scalability and affordability" to make sure the eventual treatments are available globally.

The NIH and Gates Foundation aim&nbsp;to achieve clinical trials in the United States and countries in sub-Saharan Africa within the next seven to 10 years.

Sickle cell disease is a group of inherited red blood cell disorders characterized by the presence of an abnormal protein in the red blood cells, causing the feet and hands to swell, fatigue, jaundice, and episodic or chronic pain.

Over time the disease can harm a patients' vital organs, bones, joints and skin and it is currently only curable via a blood and bone marrow transplant, available to only a tiny fraction of people who have the disease.

When it comes to HIV, antiretroviral therapy (ART) are now able to reduce patients' viral load to the point that they are undetectable and cannot be further transmitted.&nbsp;

But "a major goal is to find a cure, whereby lifelong ART would not be required," said the NIH's Anthony Fauci.

Though SCD is a genetically inherited disease, and HIV is acquired from infection, gene-based treatments are said to hold promise for both, and "many of the technical challenges for gene-based cures are expected to be common to both diseases."&nbsp;

The goal for SCD is to achieve a gene-based intervention that either corrects the gene mutation responsible or promotes fetal haemoglobin gene expression to achieve normal haemoglobin function.

For HIV, the proposed cure would involve targeting the reservoir of proviral DNA that lurks inside a small number of cells even after many years of ART.

The NIH said that approximately 95 per cent of the 38 million people living with HIV globally are in the developing world, with 67 per cent in sub-Saharan Africa, half of whom are living untreated.&nbsp;Around 1.1 million Americans are affected

SCD affects approximately 100,000 Americans, according to official figures. Fifteen million babies will be born with SCD globally over the next 30 years, with about 75 per cent of those births occurring in sub-Saharan Africans, said the NIH.

The United States government and the Bill and Melinda Gates Foundation pledged Wednesday to jointly invest $200 million over the next four years to achieve affordable gene therapy-based cures for sickle cell disease (SCD) and HIV.

The United States government and the Bill and Melinda Gates Foundation pledged Wednesday to jointly invest $200 million over the next four years to achieve affordable gene therapy-based cures for sickle cell disease (SCD) and HIV. The administration of President Donald Trump announced earlier this year its intention to end the HIV epidemic over the next decade and has also identified SCD, which disproportionately affects people of African descent, as a condition requiring greater attention. Gene therapy is a relatively new area of medicine designed to replace faulty genes in the body that are responsible for a disorder and has been responsible for new treatments for blindness and certain types of leukaemia. But the treatments are complex and costly, ruling them out as an option for most of the world. Francis Collins, director of the National Institutes of Health, said the collaboration would focus therefore on "access, scalability and affordability" to make sure the eventual treatments are available globally. The NIH and Gates Foundation aim to achieve clinical trials in the United States and countries in sub-Saharan Africa within the next seven to 10 years. Sickle cell disease is a group of inherited red blood cell disorders characterized by the presence of an abnormal protein in the red blood cells, causing the feet and hands to swell, fatigue, jaundice, and episodic or chronic pain. Over time the disease can harm a patients' vital organs, bones, joints and skin and it is currently only curable via a blood and bone marrow transplant, available to only a tiny fraction of people who have the disease. When it comes to HIV, antiretroviral therapy (ART) are now able to reduce patients' viral load to the point that they are undetectable and cannot be further transmitted. But "a major goal is to find a cure, whereby lifelong ART would not be required," said the NIH's Anthony Fauci. Though SCD is a genetically inherited disease, and HIV is acquired from infection, gene-based treatments are said to hold promise for both, and "many of the technical challenges for gene-based cures are expected to be common to both diseases." The goal for SCD is to achieve a gene-based intervention that either corrects the gene mutation responsible or promotes fetal haemoglobin gene expression to achieve normal haemoglobin function. For HIV, the proposed cure would involve targeting the reservoir of proviral DNA that lurks inside a small number of cells even after many years of ART. The NIH said that approximately 95 per cent of the 38 million people living with HIV globally are in the developing world, with 67 per cent in sub-Saharan Africa, half of whom are living untreated. Around 1.1 million Americans are affected SCD affects approximately 100,000 Americans, according to official figures. Fifteen million babies will be born with SCD globally over the next 30 years, with about 75 per cent of those births occurring in sub-Saharan Africans, said the NIH.

United States and Gates Foundation plan $200m for sickle cell, HIV cures

The United Nations is running a deficit of $230 million, Secretary-General Antonio Guterres said on Monday and may run out of money by the end of October.

In a letter intended for the 37,000 employees at the U.N. secretariat and obtained by AFP, Guterres said unspecified "additional stop-gap measures" would have to be taken to ensure salaries and entitlements are paid.

"Member States have paid only 70 per cent of the total amount needed for our regular budget operations in 2019. This translates into a cash shortage of $230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month," he wrote.

To cut costs, Guterres mentioned postponing conferences and meetings and reducing services, while also restricting official travel to only essential activities and taking measures to save energy.

Guterres had asked member states earlier this year to up contributions to the world body to head off cash flow problems, but they refused, a U.N. official said on condition of anonymity.

"The ultimate responsibility for our financial health lies with the Member States," Guterres said.

Not including what it pays for peacekeeping operations, the U.N.'s operating budget for 2018-2019 is close to $5.4 billion, with the United States contributing 22 per cent.

The United Nations is running a deficit of $230 million, Secretary-General Antonio Guterres said on Monday and may run out of money by the end of October. In a letter intended for the 37,000 employees at the U.

The United Nations is running a deficit of $230 million, Secretary-General Antonio Guterres said on Monday and may run out of money by the end of October. In a letter intended for the 37,000 employees at the U.N. secretariat and obtained by AFP, Guterres said unspecified "additional stop-gap measures" would have to be taken to ensure salaries and entitlements are paid. "Member States have paid only 70 per cent of the total amount needed for our regular budget operations in 2019. This translates into a cash shortage of $230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month," he wrote. To cut costs, Guterres mentioned postponing conferences and meetings and reducing services, while also restricting official travel to only essential activities and taking measures to save energy. Guterres had asked member states earlier this year to up contributions to the world body to head off cash flow problems, but they refused, a U.N. official said on condition of anonymity. "The ultimate responsibility for our financial health lies with the Member States," Guterres said. Not including what it pays for peacekeeping operations, the U.N.'s operating budget for 2018-2019 is close to $5.4 billion, with the United States contributing 22 per cent.

United Nations may run out of money by end of the month: Secretary-General Antonio Guterres

The International Monetary Fund (IMF) on Wednesday announced that it would extend a bailout package worth $6&nbsp;billion to help Pakistan restore an inclusive and sustainable growth of its plunging economy.

In a video shared on its official Twitter page, the global money lender said that large deficits in the past, the high cost to buy a rupee, and lack of reforms have undermined the growth of the cash-strapped economy.

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The IMF is providing $6 billion USD to help <a href="https://twitter.com/hashtag/Pakistan?src=hash&amp;ref_src=twsrc%5Etfw">#Pakistan</a> restore inclusive and sustainable growth. What are the program priorities? Watch the video to learn more. <a href="https://t.co/XGfEjBGUgF">pic.twitter.com/XGfEjBGUgF</a>
— IMF (@IMFNews) <a href="https://twitter.com/IMFNews/status/1174277177711501312?ref_src=twsrc%5Etfw">September 18, 2019</a></blockquote>
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In addition, significant government borrowing had further made it difficult to pay down the debt, added the IMF.

The global lending agency said that "to restore strong and sustainable growth, Pakistan has developed a bold 3-year program to first, allow the market to drive a fair value of the rupee helping to restore competitiveness and support exports; second, reducing debt by ensuring that more people pay taxes and the rich pay their fair share; and third, protecting vulnerable groups by increasing spending on healthcare and education."

It said the loan would further accelerate reforms to encourage investment to help companies thrive and create jobs.

"This will help Pakistan's economy reach its full potential," the global money lender wrote on Twitter.

To support its ailing economy, the country had signed a similar $6 billion loan from the IMF earlier this year.

On Monday, an eight-member IMF delegation arrived in Islamabad to review Pakistan's economic progress two months after signing the deal with focus on the country's failure to achieve the set revenue collection target, Arab News reported.

Pakistan's trade deficit shrank by nearly 38 per cent in the first two months of the current fiscal year, driven largely by a decline in imports of non-essential luxury items.

The constant decline in the trade deficit showed that imports have also plummeted despite a meagre growth in exports.

Prime Minister Imran Khan, who was elected on an anti-corruption plank and a pledge to end austerity measures, had vowed to improve the depleting economic situation of the cash-strapped country.

In fact, the opposite has happened. In reality, prices of gas and oil products and electricity in Pakistan have risen considerably, burning a hole in common man's pocket.

The International Monetary Fund (IMF) on Wednesday announced that it would extend a bailout package worth $6 billion to help Pakistan restore an inclusive and sustainable growth of its plunging economy.

The International Monetary Fund (IMF) on Wednesday announced that it would extend a bailout package worth $6 billion to help Pakistan restore an inclusive and sustainable growth of its plunging economy. In a video shared on its official Twitter page, the global money lender said that large deficits in the past, the high cost to buy a rupee, and lack of reforms have undermined the growth of the cash-strapped economy. The IMF is providing $6 billion USD to help #Pakistan restore inclusive and sustainable growth. What are the program priorities? Watch the video to learn more. pic.twitter.com/XGfEjBGUgF — IMF (@IMFNews) September 18, 2019 × In addition, significant government borrowing had further made it difficult to pay down the debt, added the IMF. The global lending agency said that "to restore strong and sustainable growth, Pakistan has developed a bold 3-year program to first, allow the market to drive a fair value of the rupee helping to restore competitiveness and support exports; second, reducing debt by ensuring that more people pay taxes and the rich pay their fair share; and third, protecting vulnerable groups by increasing spending on healthcare and education." It said the loan would further accelerate reforms to encourage investment to help companies thrive and create jobs. "This will help Pakistan's economy reach its full potential," the global money lender wrote on Twitter. To support its ailing economy, the country had signed a similar $6 billion loan from the IMF earlier this year. On Monday, an eight-member IMF delegation arrived in Islamabad to review Pakistan's economic progress two months after signing the deal with focus on the country's failure to achieve the set revenue collection target, Arab News reported. Pakistan's trade deficit shrank by nearly 38 per cent in the first two months of the current fiscal year, driven largely by a decline in imports of non-essential luxury items. The constant decline in the trade deficit showed that imports have also plummeted despite a meagre growth in exports. Prime Minister Imran Khan, who was elected on an anti-corruption plank and a pledge to end austerity measures, had vowed to improve the depleting economic situation of the cash-strapped country. In fact, the opposite has happened. In reality, prices of gas and oil products and electricity in Pakistan have risen considerably, burning a hole in common man's pocket.

International Monetary Fund to extend $6 billion bailout package to restore Pakistan's plunging economy

A top anti-corruption official in Thailand has been accused of concealing millions of dollars in assets including an upscale London apartment, according to the agency tasked with tackling endemic graft in the kingdom.

National Anti-Corruption Commission deputy secretary Prayat Puangjumpa amassed several undeclared assets in his wife's name, among them a $6.9 million apartment in the British capital's Kensington neighbourhood, the agency said.

"He intended not to disclose six items belonging to his wife," NACC spokesman Worawit Sukboon said Thursday.&nbsp;

The remaining assets were worth a total of $400,000, according to a nine-month investigation by the commission, which said it will ask the attorney general to indict Prayat.&nbsp;

Prayat told local media the charges were a misunderstanding and that his wife was holding the apartment for other people.

The case had raised public concerns and risked further damaging the reputation of anti-corruption investigators in the country, said Sunai Phasuk of Human Rights Watch.&nbsp;

Many in Thailand's upper ranks of power are dogged by some history of graft, fuelled by tainted officials, underground mafias and shady patronage networks.

Thailand's civilian premier and former junta leader Prayut Chan-O-Cha has vowed to stamp out corruption, but critics say that accusations and prosecutions are often fuelled by political infighting.

Prayut's own administration was tarnished in late 2017 when his deputy Prawit Wongsuwan, dubbed the "Rolex General", came under fire for a luxury watch collection worth an estimated $1.2 million.&nbsp;

The NACC dismissed the case last December, citing "no grounds" for corruption as the watches were lent to Prawit by a wealthy businessman.&nbsp;

A top anti-corruption official in Thailand has been accused of concealing millions of dollars in assets including an upscale London apartment, according to the agency tasked with tackling endemic graft in the kingdom.

A top anti-corruption official in Thailand has been accused of concealing millions of dollars in assets including an upscale London apartment, according to the agency tasked with tackling endemic graft in the kingdom. National Anti-Corruption Commission deputy secretary Prayat Puangjumpa amassed several undeclared assets in his wife's name, among them a $6.9 million apartment in the British capital's Kensington neighbourhood, the agency said. "He intended not to disclose six items belonging to his wife," NACC spokesman Worawit Sukboon said Thursday. The remaining assets were worth a total of $400,000, according to a nine-month investigation by the commission, which said it will ask the attorney general to indict Prayat. Prayat told local media the charges were a misunderstanding and that his wife was holding the apartment for other people. The case had raised public concerns and risked further damaging the reputation of anti-corruption investigators in the country, said Sunai Phasuk of Human Rights Watch. Many in Thailand's upper ranks of power are dogged by some history of graft, fuelled by tainted officials, underground mafias and shady patronage networks. Thailand's civilian premier and former junta leader Prayut Chan-O-Cha has vowed to stamp out corruption, but critics say that accusations and prosecutions are often fuelled by political infighting. Prayut's own administration was tarnished in late 2017 when his deputy Prawit Wongsuwan, dubbed the "Rolex General", came under fire for a luxury watch collection worth an estimated $1.2 million. The NACC dismissed the case last December, citing "no grounds" for corruption as the watches were lent to Prawit by a wealthy businessman.

Thai anti-corruption official accused of hiding millions in assets

India has moved down one place to 74th rank in terms of <a href="https://www.wionews.com/india-news/indians-money-in-swiss-banks-falls-hits-second-lowest-level-in-two-decades-230943">money parked by its citizens and enterprises with Swiss banks</a>, while the UK has retained its top position, as per data released by the central banking authority of the Alpine nation.

India was ranked 73rd last year, after jumping 15 places from its 88th position a year ago.

An analysis of the latest annual banking statistics released by the Swiss National Bank (SNB) shows that India remains ranked very low when it comes to money parked by Indian individuals and enterprises in Swiss banks, including through their India-based branches, while accounting for just about 0.07 per cent of the aggregate funds parked by all foreign clients of Switzerland-based banks.

In comparison, the top-ranked UK accounted for more than 26 per cent of the total foreign funds parked with Swiss banks at the end of 2018.

Among the top-ranked jurisdictions, the UK is followed by the US, West Indies, France and Hong Kong in the top five.

The top-five countries alone account for more than 50 per cent of the aggregate foreign funds parked with the Swiss banks, while the top-10 account for nearly two-thirds. The top-15 countries account for nearly 75 per cent of all foreign money in Swiss banks, while the contribution of the top-30 is almost 90 per cent.

The top-10 countries also include Bahamas, Germany, Luxembourg, Cayman Islands and Singapore.

Among the five-nation BRICS bloc of emerging economies, India is ranked the lowest while Russia is ranked the highest at 20th place, followed by China at 22nd, South Africa at 60th and Brazil at 65th place in terms of the amount of money parked by their residents and enterprises at the end of 2018.

The countries ranked higher than India also include Mauritius (71st), New Zealand (59th), the Philippines (54th), Venezuela (53rd), Seychelles (52nd), Thailand (39th), Canada (36th), Turkey (30th), Israel (28th), Saudi Arabia (21st), Panama (18th), Japan (16th), Italy (15th), Australia (13th), UAE (12th) and Guernsey (11th).

However, several of India's neighbouring nations are ranked lower, with Pakistan ranking 82nd, Bangladesh 89th, Nepal 109th, Sri Lanka 141st, Myanmar 187th and Bhutan 193rd.

This is the first time in the last four years that the funds linked to Pakistan in Swiss banks have slipped below that of Indians.

A number of other major countries also saw their funds falling in Swiss banks amid a global clampdown against the erstwhile banking secrecy walls in the Alpine nation. The funds, described by SNB as 'liabilities' of Swiss banks or 'amounts due to' their clients, are official figures disclosed by Swiss authorities and do not indicate the exact quantum of the much-debated alleged black money held in famed safe havens of Switzerland. The official figures, disclosed annually by Switzerland's central bank, also do not include the money that Indians, NRIs or others might have in Swiss banks in the names of entities from different countries. It has been often alleged that Indians and other nationals seeking to stash their illicit wealth abroad use multiple layers of various jurisdictions, including tax havens, to shift the money to Swiss banks.

Also, with Switzerland putting in place an automatic information exchange framework with India and various other countries, the famed secrecy walls of Swiss banks are said to have crumbled. India will start getting this automatic data from this year, while it has already been getting information on accounts where proof of illicit funds can be furnished.

The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system, almost same as the level seen at 2017-end after a modest increase from 0.04 per cent a year before that, as per an analysis of the latest figures compiled by the SNB (Swiss National Bank) as on 2018-end.

India was placed at 75th position in 2015 and 61st in the year before, though it used to be among the top-50 countries in terms of holdings in Swiss banks till 2007. The country was ranked highest at 37th place in the year 2004.

The total money held in Swiss banks by foreign clients from across the world fell by about 4 per cent to CHF 1.4 trillion (about Rs. 99 lakh crore) in 2018. In terms of individual countries, the UK continues to account for the largest chunk at about CHF 372 billion (down from CHF 403 billion a year ago), which remains more than 26 per cent of the total foreign money with Swiss banks.

The US remains on the second position despite a dip to about CHF 144 billion (from CHF 166 billion a year ago), accounting for nearly 10.3 per cent of all foreign funds. The share is more than 1 per cent only for 21 jurisdictions.

India was ranked in the top-50 continuously between 1996 and 2007, but its rank started declining after that -&nbsp;55th in 2008, 59th in 2009 and 2010 each, 55th again in 2011, 71st in 2012 and then to 58th in 2013.

&nbsp;

India has moved down one place to 74th rank in terms of money parked by its citizens and enterprises with Swiss banks, while the UK has retained its top position, as per data released by the central banking authority of the Alpine nation.

India has moved down one place to 74th rank in terms of money parked by its citizens and enterprises with Swiss banks, while the UK has retained its top position, as per data released by the central banking authority of the Alpine nation. India was ranked 73rd last year, after jumping 15 places from its 88th position a year ago. An analysis of the latest annual banking statistics released by the Swiss National Bank (SNB) shows that India remains ranked very low when it comes to money parked by Indian individuals and enterprises in Swiss banks, including through their India-based branches, while accounting for just about 0.07 per cent of the aggregate funds parked by all foreign clients of Switzerland-based banks. In comparison, the top-ranked UK accounted for more than 26 per cent of the total foreign funds parked with Swiss banks at the end of 2018. Among the top-ranked jurisdictions, the UK is followed by the US, West Indies, France and Hong Kong in the top five. The top-five countries alone account for more than 50 per cent of the aggregate foreign funds parked with the Swiss banks, while the top-10 account for nearly two-thirds. The top-15 countries account for nearly 75 per cent of all foreign money in Swiss banks, while the contribution of the top-30 is almost 90 per cent. The top-10 countries also include Bahamas, Germany, Luxembourg, Cayman Islands and Singapore. Among the five-nation BRICS bloc of emerging economies, India is ranked the lowest while Russia is ranked the highest at 20th place, followed by China at 22nd, South Africa at 60th and Brazil at 65th place in terms of the amount of money parked by their residents and enterprises at the end of 2018. The countries ranked higher than India also include Mauritius (71st), New Zealand (59th), the Philippines (54th), Venezuela (53rd), Seychelles (52nd), Thailand (39th), Canada (36th), Turkey (30th), Israel (28th), Saudi Arabia (21st), Panama (18th), Japan (16th), Italy (15th), Australia (13th), UAE (12th) and Guernsey (11th). However, several of India's neighbouring nations are ranked lower, with Pakistan ranking 82nd, Bangladesh 89th, Nepal 109th, Sri Lanka 141st, Myanmar 187th and Bhutan 193rd. This is the first time in the last four years that the funds linked to Pakistan in Swiss banks have slipped below that of Indians. A number of other major countries also saw their funds falling in Swiss banks amid a global clampdown against the erstwhile banking secrecy walls in the Alpine nation. The funds, described by SNB as 'liabilities' of Swiss banks or 'amounts due to' their clients, are official figures disclosed by Swiss authorities and do not indicate the exact quantum of the much-debated alleged black money held in famed safe havens of Switzerland. The official figures, disclosed annually by Switzerland's central bank, also do not include the money that Indians, NRIs or others might have in Swiss banks in the names of entities from different countries. It has been often alleged that Indians and other nationals seeking to stash their illicit wealth abroad use multiple layers of various jurisdictions, including tax havens, to shift the money to Swiss banks. Also, with Switzerland putting in place an automatic information exchange framework with India and various other countries, the famed secrecy walls of Swiss banks are said to have crumbled. India will start getting this automatic data from this year, while it has already been getting information on accounts where proof of illicit funds can be furnished. The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system, almost same as the level seen at 2017-end after a modest increase from 0.04 per cent a year before that, as per an analysis of the latest figures compiled by the SNB (Swiss National Bank) as on 2018-end. India was placed at 75th position in 2015 and 61st in the year before, though it used to be among the top-50 countries in terms of holdings in Swiss banks till 2007. The country was ranked highest at 37th place in the year 2004. The total money held in Swiss banks by foreign clients from across the world fell by about 4 per cent to CHF 1.4 trillion (about Rs. 99 lakh crore) in 2018. In terms of individual countries, the UK continues to account for the largest chunk at about CHF 372 billion (down from CHF 403 billion a year ago), which remains more than 26 per cent of the total foreign money with Swiss banks. The US remains on the second position despite a dip to about CHF 144 billion (from CHF 166 billion a year ago), accounting for nearly 10.3 per cent of all foreign funds. The share is more than 1 per cent only for 21 jurisdictions. India was ranked in the top-50 continuously between 1996 and 2007, but its rank started declining after that - 55th in 2008, 59th in 2009 and 2010 each, 55th again in 2011, 71st in 2012 and then to 58th in 2013.

Money in Swiss banks: India slips to 74th place, UK remains on top 

A Canadian man, who allegedly tried to swindle an entertainment company out of $284 million, has been arrested in the gambling hub of Macau, police said Monday.

The suspect, a 61-year-old retiree of Chinese descent, was arrested on Friday after allegedly trying to transfer the money from the firm's bank account using bogus documents earlier in the week.

In an emailed statement Macau's Judiciary Police told AFP the man, surnamed Liao, tried to use a "fake authorisation document and transfer slip to try to defraud the entertainment company and the bank".&nbsp;

Police did not identify the company or the bank involved.

The arrest comes as Beijing and Ottawa are locked in a diplomatic row following the December arrest in Canada of Huawei chief financial officer Meng Wanzhou on a US extradition request linked to Iran sanctions violations.

In a move observers see as retaliation over the Meng case, Chinese authorities detained two Canadians soon after, accusing them of activities that "endanger China's national security".

The phrase is often used by Beijing when alleging espionage, and few details have been given about their whereabouts or the cases against them.

In contrast, the arrest in Macau was announced by local police in a press conference over the weekend, and they outlined the allegations in some detail.

In its statement, the Judiciary Police said the man "tried to transfer 249,000,000 euros".

Staff at the bank grew suspicious when the man's signature did not match what they had on record for the account and they alerted police.&nbsp;

The man was then arrested at the border trying to leave Macau on Friday evening.

A spokesperson at Canada's consulate in Hong Kong, which oversees Macau, said officials were aware of the arrest in the former Portuguese colony.

"Consular officials are in contact with local authorities on the matter," the spokesperson said, declining to comment further because of Canada's privacy laws.

Macau is the world's largest gambling hub, raking in five times as much as Las Vegas in gaming revenue. The vast majority of gamblers who visit the semi-autonomous city are Chinese nationals.

A Canadian man, who allegedly tried to swindle an entertainment company out of $284 million, has been arrested in the gambling hub of Macau, police said Monday. The suspect, a 61-year-old retiree of Chinese descent, was arrested on Friday after allegedly trying to transfer the money from the firm's bank account using bogus documents earlier in the week.

A Canadian man, who allegedly tried to swindle an entertainment company out of $284 million, has been arrested in the gambling hub of Macau, police said Monday. The suspect, a 61-year-old retiree of Chinese descent, was arrested on Friday after allegedly trying to transfer the money from the firm's bank account using bogus documents earlier in the week. In an emailed statement Macau's Judiciary Police told AFP the man, surnamed Liao, tried to use a "fake authorisation document and transfer slip to try to defraud the entertainment company and the bank". Police did not identify the company or the bank involved. The arrest comes as Beijing and Ottawa are locked in a diplomatic row following the December arrest in Canada of Huawei chief financial officer Meng Wanzhou on a US extradition request linked to Iran sanctions violations. In a move observers see as retaliation over the Meng case, Chinese authorities detained two Canadians soon after, accusing them of activities that "endanger China's national security". The phrase is often used by Beijing when alleging espionage, and few details have been given about their whereabouts or the cases against them. In contrast, the arrest in Macau was announced by local police in a press conference over the weekend, and they outlined the allegations in some detail. In its statement, the Judiciary Police said the man "tried to transfer 249,000,000 euros". Staff at the bank grew suspicious when the man's signature did not match what they had on record for the account and they alerted police. The man was then arrested at the border trying to leave Macau on Friday evening. A spokesperson at Canada's consulate in Hong Kong, which oversees Macau, said officials were aware of the arrest in the former Portuguese colony. "Consular officials are in contact with local authorities on the matter," the spokesperson said, declining to comment further because of Canada's privacy laws. Macau is the world's largest gambling hub, raking in five times as much as Las Vegas in gaming revenue. The vast majority of gamblers who visit the semi-autonomous city are Chinese nationals.

Canadian arrested in Macau for $284 million fraud attempt

Malaysian prosecutors on Monday charged former<a href="http://www.wionews.com/south-asia/former-malaysian-pms-wife-appears-court-face-corruption-charges-169315"> prime minister Najib Razak </a>with three more counts of money laundering, allegedly receiving the proceeds of illegal activities in his personal bank accounts.

After unexpectedly losing an election to Mahathir Mohamad in May last year, Najib has been slapped with a series of corruption charges, mostly tied to losses at now-defunct state fund 1MDB.

The latest charges bring the total number against him to 42.

Najib has pleaded not guilty to all the charges and has consistently denied wrongdoing. The first of his four trials start on February 12.

Prosecutors on Monday alleged that Najib received in his private bank account a total of 47 million ringgit ($11.44 million) in proceeds of illegal activities, according to charge sheets seen by Reuters.

A conviction on each charge would involve a maximum fine of 5 million ringgit or imprisonment of up to five years or both.

National news agency Bernama reported that Najib had pleaded not guilty to the new charges.

The US&nbsp;Justice Department has estimated that a total of $4.5 billion was misappropriated by high-level officials at 1MDB and their associates between 2009 and 2014.

Najib founded the fund.

The new government led by Prime Minister Mahathir reopened investigations into 1MDB after the election victory.

Najib's former treasury chief, Mohamad Irwan Serigar Abdullah, and former 1MDB chief executive Arul Kanda Kandasamy have also been charged over 1MDB. They have both denied wrongdoing.

Malaysia last month filed charges against Goldman Sachs in connection with its role as underwriter and arranger of bond sales that raised $6.5 billion for 1MDB.

Goldman Sachs has consistently denied wrongdoing and said certain members of the former Malaysian government and 1MDB lied to the bank about the proceeds of the bond sales.

Malaysian prosecutors on Monday charged former prime minister Najib Razak with three more counts of money laundering, allegedly receiving the proceeds of illegal activities in his personal bank accounts.

Malaysian prosecutors on Monday charged former prime minister Najib Razak with three more counts of money laundering, allegedly receiving the proceeds of illegal activities in his personal bank accounts. After unexpectedly losing an election to Mahathir Mohamad in May last year, Najib has been slapped with a series of corruption charges, mostly tied to losses at now-defunct state fund 1MDB. The latest charges bring the total number against him to 42. Najib has pleaded not guilty to all the charges and has consistently denied wrongdoing. The first of his four trials start on February 12. Prosecutors on Monday alleged that Najib received in his private bank account a total of 47 million ringgit ($11.44 million) in proceeds of illegal activities, according to charge sheets seen by Reuters. A conviction on each charge would involve a maximum fine of 5 million ringgit or imprisonment of up to five years or both. National news agency Bernama reported that Najib had pleaded not guilty to the new charges. The US Justice Department has estimated that a total of $4.5 billion was misappropriated by high-level officials at 1MDB and their associates between 2009 and 2014. Najib founded the fund. The new government led by Prime Minister Mahathir reopened investigations into 1MDB after the election victory. Najib's former treasury chief, Mohamad Irwan Serigar Abdullah, and former 1MDB chief executive Arul Kanda Kandasamy have also been charged over 1MDB. They have both denied wrongdoing. Malaysia last month filed charges against Goldman Sachs in connection with its role as underwriter and arranger of bond sales that raised $6.5 billion for 1MDB. Goldman Sachs has consistently denied wrongdoing and said certain members of the former Malaysian government and 1MDB lied to the bank about the proceeds of the bond sales.

Former Malaysian PM Rajak faces three more money laundering charges

Every purchase people make should benefit those who have made efforts and skills to produce it, Prime Minister Narendra Modi said Sunday, noting that inclusive growth would be a tribute to Mahatma Gandhi on his 150th birth anniversary.

He also thanked people from all walks of life for participating in 'Swachhta hi Sewa' campaign which began on September 15 to mark the 150th birth anniversary of Mahatma Gandhi.

He said Swachh Bharat Mission or Clean India Mission has become a success story not only in India but in the entire world.

"This time India is hosting the biggest sanitation convention of the world so far, the Mahatma Gandhi International Sanitation Convention. Sanitation ministers from countries across the world and experts on the subject of sanitation will converge and share their experiments and experiences," he said in his monthly 'Mann ki Baat' radio address.

The convention will conclude on October 2.

Referring to Mahatma Gandhi's mantra, he said, "Can we remember Bapu for a moment while going out for shopping? ... Can we spare a thought while purchasing anything as to who in my country will benefit by this purchase! Whose face will sport a smile! Who will be the fortunate one to get a direct or indirect benefit from your purchase! I will feel much happier if my purchase will benefit the poorest of the poor," he said.

The PM said if money spent by people on buying goods helps those who have made it and put in their skill and money, it would be a tribute to Mahatma Gandhi.

He also recalled the contribution of then prime minister Lal Bahadur Shastri who shares his birthday with Mahatma Gandhi.

"Shastriji had a unique quality ... he was very humble outwardly but he was rock solid from inside. His slogan "Jai Jawan, Jai Kisan" is the hallmark of his grand personality. It was the result of his selfless service to the nation that in a brief tenure of about one and a half years he gave to our jawans and farmers the mantra to reach the pinnacle of success," PM Modi said.

Every purchase people make should benefit those who have made efforts and skills to produce it, Prime Minister Narendra Modi said Sunday, noting that inclusive growth would be a tribute to Mahatma Gandhi on his 150th birth anniversary.

Every purchase people make should benefit those who have made efforts and skills to produce it, Prime Minister Narendra Modi said Sunday, noting that inclusive growth would be a tribute to Mahatma Gandhi on his 150th birth anniversary. He also thanked people from all walks of life for participating in 'Swachhta hi Sewa' campaign which began on September 15 to mark the 150th birth anniversary of Mahatma Gandhi. He said Swachh Bharat Mission or Clean India Mission has become a success story not only in India but in the entire world. "This time India is hosting the biggest sanitation convention of the world so far, the Mahatma Gandhi International Sanitation Convention. Sanitation ministers from countries across the world and experts on the subject of sanitation will converge and share their experiments and experiences," he said in his monthly 'Mann ki Baat' radio address. The convention will conclude on October 2. Referring to Mahatma Gandhi's mantra, he said, "Can we remember Bapu for a moment while going out for shopping? ... Can we spare a thought while purchasing anything as to who in my country will benefit by this purchase! Whose face will sport a smile! Who will be the fortunate one to get a direct or indirect benefit from your purchase! I will feel much happier if my purchase will benefit the poorest of the poor," he said. The PM said if money spent by people on buying goods helps those who have made it and put in their skill and money, it would be a tribute to Mahatma Gandhi. He also recalled the contribution of then prime minister Lal Bahadur Shastri who shares his birthday with Mahatma Gandhi. "Shastriji had a unique quality ... he was very humble outwardly but he was rock solid from inside. His slogan "Jai Jawan, Jai Kisan" is the hallmark of his grand personality. It was the result of his selfless service to the nation that in a brief tenure of about one and a half years he gave to our jawans and farmers the mantra to reach the pinnacle of success," PM Modi said.

Every rupee spent should benefit the needy: PM Modi

The founder of the company that offered world's cheapest smartphone "Freedom 251", and other two people, were arrested by the Delhi police on Sunday for allegedly attempting to extort money in lieu of settling a rape case.&nbsp

Goel, his aide and a woman conspired to extort money from the complainants after implicating them in a gang-rape case in Rajasthan's Alwar.

Earlier, the woman, involved in the conspiracy, had filed a complaint that she was gang-raped by five people in a hotel in Alwar. During the course of the investigation, it was found that the woman had been threatening the complainant and asking him for money.

Later, the police laid a trap to arrest the accused when they came to take the extortion amount.

"My relatives were being honey-trapped. First, the accused asked for Rs 11 core and then they settled the matter for Rs 2.5 crore. They took Rs 1 crore 15 lakh earlier and today they came to take Rs 30 lakh when they were arrested," said a family member of a complainant.

Earlier, Mohit Goel had spent more than three months in jail on allegations of fraud. However, on May 31, Ringing Bells Managing Director got bail from the Allahabad High Court. Ghaziabad-based Ayam Enterprises alleged that Goel ‘defrauded’ the company of Rs 16 lakh. Goel was arrested in February in Uttar Pradesh.

Charges against Goel and four other directors of Ringing Bells were framed on February 22 under Indian Penal Code’s Sections 467 (forgery of valuable security, will), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document or electronic record), 406 (punishment for criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property) and 120b (criminal conspiracy).

Ringing Bells launched Freedom 251, dubbed as the world’s cheapest smartphone at Rs 251, back in 2016. '

(With inputs from ANI)

Goel, his aide and a woman conspired to extort money from the complainants after implicating them in a gang-rape case in Rajasthan's Alwar

The founder of the company that offered world's cheapest smartphone "Freedom 251", and other two people, were arrested by the Delhi police on Sunday for allegedly attempting to extort money in lieu of settling a rape case. Goel, his aide and a woman conspired to extort money from the complainants after implicating them in a gang-rape case in Rajasthan's Alwar. Earlier, the woman, involved in the conspiracy, had filed a complaint that she was gang-raped by five people in a hotel in Alwar. During the course of the investigation, it was found that the woman had been threatening the complainant and asking him for money. Later, the police laid a trap to arrest the accused when they came to take the extortion amount. "My relatives were being honey-trapped. First, the accused asked for Rs 11 core and then they settled the matter for Rs 2.5 crore. They took Rs 1 crore 15 lakh earlier and today they came to take Rs 30 lakh when they were arrested," said a family member of a complainant. Earlier, Mohit Goel had spent more than three months in jail on allegations of fraud. However, on May 31, Ringing Bells Managing Director got bail from the Allahabad High Court. Ghaziabad-based Ayam Enterprises alleged that Goel ‘defrauded’ the company of Rs 16 lakh. Goel was arrested in February in Uttar Pradesh. Charges against Goel and four other directors of Ringing Bells were framed on February 22 under Indian Penal Code’s Sections 467 (forgery of valuable security, will), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document or electronic record), 406 (punishment for criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property) and 120b (criminal conspiracy). Ringing Bells launched Freedom 251, dubbed as the world’s cheapest smartphone at Rs 251, back in 2016. ' (With inputs from ANI)

Owner of cheapest smartphone maker 'Freedom 251' arrested in money extortion case

Pakistan's Punjab province government has sought a grant of one billion rupees from the Federal Finance Ministry for running over 200 properties of the banned Jamaat-ud-Dawa and Falah-e-Insaniyat Foundation, seized during a crackdown on the two organisations of the Mumbai terror attack mastermind Hafiz Saeed, a provincial official said today.

The federal government had, in February, started confiscating the properties of Saeed's banned outfit Jamaat-ud-Dawa (JuD) and its charity arm Falah-e-Insaniyat Foundation (FIF) across the country during a crackdown on the two organisations, in line with the UN Security Council sanctions list.

In a letter to the Federal Finance Ministry, the Punjab government, which claims to have taken over 200 properties - including offices, schools, dispensaries and ambulance service - of the JuD and the FIF, expressed its inability to bear the expenses of running them and demanded immediate release of at least Rs 1 billion for the purpose in the financial year (2018-19), a provincial officer told PTI.

"Since the Federal government had not allocated any amount in this year's budget to run the JuD and FIF properties, taken over by the Punjab government, it has written to the federal finance ministry informing that it needs at least Rs 1 billion for the financial year (2018-19) for the purpose," he said.

"Only for Gujranwala division, that houses more than 50 properties of the JuD and the FIF, including JuD's Muridke headquarters (about 40-km from Lahore) an amount of of Rs 370 million is required annually to run them," he said.

A Senate committee, in March, had disclosed that 148 properties of the two entities linked to Saeed had been taken over in nine out of 10 divisions of Punjab.

The assets of the medical wings of the two groups were to be taken over by Pakistan Red Crescent Society.

The federal government has barred companies and individuals from giving donations to the JuD, the FIF and other organisations on the UN Security Council sanctions list.&nbsp;

The Securities and Exchange Commission of Pakistan issued a notification to all companies, prohibiting them from donating money to the entities and individuals listed under the UNSC sanctions committee's consolidated list.

But despite properties being taken over, the JuD and FIF activists are allowed to use them, especially JuD headquarters in Lahore and Muridke.

A Senate committee, in March, had disclosed that 148 properties of the two entities linked to Saeed had been taken over in nine out of 10 divisions of Punjab.

Pakistan's Punjab province government has sought a grant of one billion rupees from the Federal Finance Ministry for running over 200 properties of the banned Jamaat-ud-Dawa and Falah-e-Insaniyat Foundation, seized during a crackdown on the two organisations of the Mumbai terror attack mastermind Hafiz Saeed, a provincial official said today. The federal government had, in February, started confiscating the properties of Saeed's banned outfit Jamaat-ud-Dawa (JuD) and its charity arm Falah-e-Insaniyat Foundation (FIF) across the country during a crackdown on the two organisations, in line with the UN Security Council sanctions list. In a letter to the Federal Finance Ministry, the Punjab government, which claims to have taken over 200 properties - including offices, schools, dispensaries and ambulance service - of the JuD and the FIF, expressed its inability to bear the expenses of running them and demanded immediate release of at least Rs 1 billion for the purpose in the financial year (2018-19), a provincial officer told PTI. "Since the Federal government had not allocated any amount in this year's budget to run the JuD and FIF properties, taken over by the Punjab government, it has written to the federal finance ministry informing that it needs at least Rs 1 billion for the financial year (2018-19) for the purpose," he said. "Only for Gujranwala division, that houses more than 50 properties of the JuD and the FIF, including JuD's Muridke headquarters (about 40-km from Lahore) an amount of of Rs 370 million is required annually to run them," he said. A Senate committee, in March, had disclosed that 148 properties of the two entities linked to Saeed had been taken over in nine out of 10 divisions of Punjab. The assets of the medical wings of the two groups were to be taken over by Pakistan Red Crescent Society. The federal government has barred companies and individuals from giving donations to the JuD, the FIF and other organisations on the UN Security Council sanctions list. The Securities and Exchange Commission of Pakistan issued a notification to all companies, prohibiting them from donating money to the entities and individuals listed under the UNSC sanctions committee's consolidated list. But despite properties being taken over, the JuD and FIF activists are allowed to use them, especially JuD headquarters in Lahore and Muridke.

Pakistan Punjab demands Rs 1 billion from Fed government to run JuD, FIF properties

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