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Newpaper24 - Global online News around the World cd816d78-118e-11e8-851b-21ca695cbae4_image_hires_220558 Credit score Suisse being investigated by US regulators for hiring Asian workers in trade for enterprise - NEWPAPER24  Newpaper24 - Global online News around the World cd816d78-118e-11e8-851b-21ca695cbae4_image_hires_220558 Credit score Suisse being investigated by US regulators for hiring Asian workers in trade for enterprise - NEWPAPER24

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Credit score Suisse being investigated by US regulators for hiring Asian workers in trade for enterprise – NEWPAPER24

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Credit score Suisse being investigated by US regulators for hiring Asian workers in trade for enterprise

2018-02-14 14:06:02


Credit score Suisse stated on Wednesday that it was beneath investigation in the US over its Asian hiring practices, becoming a member of the ranks of the worldwide funding banks being probed by regulators for recruiting workers in trade for enterprise.

“Credit score Suisse has been responding to requests from sure governmental and regulatory authorities … concerning Credit score Suisse’s hiring practices within the Asia-Pacific area and, particularly, whether or not Credit score Suisse employed referrals from authorities companies and different state-owned entities in trade for funding banking enterprise and/or regulatory approvals, in potential violation of the US International Corrupt Practices Act and associated civil statutes,” the financial institution stated when reporting its full-year outcomes for 2017.

Newpaper24 - Global online News around the World  Credit score Suisse being investigated by US regulators for hiring Asian workers in trade for enterprise - NEWPAPER24

The authorities in query included the Division of Justice and the US Securities and Trade Fee, the Swiss financial institution stated, including that it was “cooperating with the authorities”.

Chatting with the media on Wednesday, Helman Sitohang, Credit score Suisse’s chief government officer for Asia-Pacific, stated that he couldn’t give any additional particulars.

In November 2016, JPMorgan Chase agreed to pay US$264 million to the US authorities to settle allegations that it had employed the kids and kinfolk of influential Chinese language policymakers or officers within the hope of successful their enterprise.

JPMorgan settles bribery case for US$264 million after probe into Chinese language hires

In the meantime, HSBC stated in its outcomes announcement for the primary half of 2017 that it, together with a number of monetary establishments, was being investigated by the SEC “in relation to hiring practices of candidates referred by or associated to authorities officers or workers of state-owned enterprises in Asia-Pacific”.

The financial institution added that it “has acquired numerous requests for info and is cooperating with the SEC’s investigation”.

An analogous line first appeared in HSBC’s full 12 months outcomes for 2015.

Credit score Suisse Asia-Pacific posted adjusted pre-tax revenue of 792 million Swiss francs (US$849 million) for 2017, 1.eight per cent increased than the identical interval final 12 months, as a powerful efficiency in its wealth administration division made up for a lack of 28 million Swiss francs in its markets division.

Sitohang stated, nevertheless, that within the first six weeks of 2018, Credit score Suisse’s Asia-Pacific markets enterprise noticed revenues rise by over 15 per cent in comparison with the identical interval in 2017, due to elevated market volatility.

Credit score Suisse group as a complete reported a internet lack of 983 million Swiss francs, its third straight 12 months of losses after dealing with 2.7 billion francs of revenue tax bills principally due to US tax reform.



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Employers nonetheless have ‘antiquated angle to feminine employees’ – NEWPAPER24

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Newpaper24 - Global online News around the World _100082323_gettyimages-492789910-1 Employers nonetheless have 'antiquated angle to feminine employees' - NEWPAPER24

Employers nonetheless have ‘antiquated angle to feminine employees’

2018-02-19 00:42:57

Picture copyright Getty Photographs

Many employers nonetheless stay within the “darkish ages” with regards to recruiting girls, the Equality and Human Rights Fee (EHRC) says.

In a ballot for the EHRC, 36% of employers thought it cheap to ask a girls about plans to have kids.

Some 59% agreed lady ought to need to disclose through the recruitment course of whether or not she is pregnant.

The fee stated the ballot of 1,106 female and male decision-makers confirmed worrying attitudes.

The EHRC stated its research confirmed that many employers wanted extra help to higher perceive the fundamentals of discrimination legislation and the rights of pregnant girls and new moms.

EHRC chief govt Rebecca Hilsenrath stated: “It’s a miserable actuality that, when it comes the rights of pregnant lady and new moms within the office, we’re nonetheless residing in the dead of night ages.

“We must always all know very properly that it’s towards the legislation to not appoint a lady as a result of she is pregnant or would possibly turn into pregnant.

“But we additionally know girls routinely get requested questions round household planning in interviews.”

Different findings from the YouGov survey of small, medium and enormous corporations included:

  • 46% of employers agreed it was cheap to ask girls if they’ve younger kids through the recruitment course of
  • 44% agree girls ought to work for an organisation for not less than a yr earlier than deciding to have kids
  • About one third consider that girls who turn into pregnant and new moms in work are “typically much less excited by profession development
  • 41% of employers agreed that being pregnant within the office places “an pointless value burden” on the office
  • 51% agree there’s generally resentment in direction of girls who’re pregnant or on maternity go away
  • The EHRC stated its survey revealed antiquated beliefs, together with two out of 5 employers saying girls who’ve had a couple of little one whereas in the identical job generally is a “burden” to their crew.

‘Lawbreakers’

The EHRC’s report quotes a mom of two younger kids, Sarah, who was made redundant throughout maternity go away for her first little one.

“It is unhappy to suppose that issues like this are nonetheless occurring. I really feel offended on a regular basis you could be a mom with younger kids and except you are in a job that protects you, your complete world can come tumbling down – out of your management.

“It’s important for employers to be trustworthy and guarantee there’s good communication between them and people on maternity go away in order that pregnant girls and new moms are given the help they deserve.”

TUC basic secretary Frances O’Grady stated that girls shouldn’t be compelled to decide on between having a profession and a household.

“However hundreds are being compelled from their job yearly. Being pregnant discrimination scars lives and careers.

“Employers are getting away with breaking the legislation on an industrial scale.”

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Egypt to import three LNG cargoes from France’s Engie for Q2 2018 -sources | Investing Dwelling – NEWPAPER24

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Newpaper24 - Global online News around the World 1519015488_ Egypt to import three LNG cargoes from France's Engie for Q2 2018 -sources | Investing Dwelling - NEWPAPER24

Egypt to import three LNG cargoes from France’s Engie for Q2 2018 -sources | Investing Dwelling

2018-02-18 08:23:33


CAIRO (Newpaper24) – Egyptian Pure Fuel Holding Firm (EGAS) has organized for the supply of three liquefied pure fuel (LNG) cargoes from France’s Engie within the second quarter of 2018, EGAS sources mentioned on Sunday.

Commerce sources advised Newpaper24 final month that Egypt was seeking to import 5 cargoes of LNG at aggressive pricing.

Two commerce sources mentioned the purchases had been organized by way of bilateral offers and never by way of a typical tender course of.

Egypt plans to cease importing LNG by the top of the 2017/18 fiscal yr ending in June because it hastens manufacturing at lately found fuel fields, the petroleum minister mentioned in January.

Reporting by Ehab Farouk; Writing by Nadine Awadalla; Enhancing by Susan Fenton

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Kuwait pledges $2 billion for Iraq’s reconstruction – Politics & Economics,Kuwait,Center East – NEWPAPER24

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Newpaper24 - Global online News around the World Kuwait-Emir Kuwait pledges $2 billion for Iraq's reconstruction - Politics & Economics,Kuwait,Center East - NEWPAPER24

Kuwait pledges $2 billion for Iraq’s reconstruction – Politics & Economics,Kuwait,Center East

2018-02-14 15:12:30


Kuwait will lend $1 billion to Iraq and commit an extra $1 billion of funding to the nation, Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah instructed a world convention on Iraq’s reconstruction on Wednesday.

Donors and traders have gathered in Kuwait this week to debate efforts to rebuild Iraq’s financial system and infrastructure because it emerges from a devastating battle with ISIL militants who seized virtually a 3rd of the nation.

“Kuwait will earmark $1 billion in loans to Iraq and can commit to a different $1 billion as investments in Iraq,” stated Sheikh Sabah.

Iraq declared victory over ISIL in December, having taken again all of the territory captured by the militants in 2014 and 2015. The fighters have additionally been largely defeated in neighbouring Syria.

Rebuilding Iraq after three years of battle with ISIL will value greater than $88 billion, with housing a very pressing precedence, Iraqi officers say.

On the identical convention the USA stated it was extending a $three billion credit score line however was not offering any direct authorities help. Worldwide NGOs have to date pledged $330 million in humanitarian help.

Iraq has suffered from a long time of battle and it’s hanging that it’s holding its reconstruction convention in Kuwait, which it invaded in 1990, resulting in defeat by a U.S.-led coalition and greater than a decade of sanctions.

Kuwait will have fun Liberation Day from Iraq in two weeks and Iraq nonetheless pays it reparations.

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