September 2017

…..invokes 1979 law to fight corruption   ADEBIYI ADEDAPO, Abuja  Indication emerged yesterday that more judges a well as serving ministers are being investigated by the President Muhammadu Buhari’s administration. The new set of judges and some serving ministers whose activities are currently being investigation may be arrested in coming weeks. Special Adviser to President Muhammadu […]

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ISLAMABAD –  The National Accountability Bureau (NAB) will file references against ousted prime minister Nawaz Sharif, his children, Capt (retd) Muhammad Safdar, Finance Minister Ishaq Dar and others in Islamabad/ Rawalpindi Accountability Courts on Thursday, The Nation has learnt reliably. Well-placed sources said that NAB Chairman Qamar Zaman Chaudhry will call a meeting of the […]

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Kampala, Uganda’s capital, is growing fast. The country loses at least 2% of GDP from tax incentives and exemptions. Photo: Picture Alliance [Global Development] Too much African money ends up in tax havens. If that’s going to change, Africans need to be more involved in shaping the rules governing financial flows. Panama Papers – the […]

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The government of Azerbaijan has responded angrily to revelations that it ran a secret $2.9bn (£2.2bn) fund which was used to pay prominent Europeans, run lobbying operations, and launder money via a group of opaque British companies. Azerbaijan’s presidential aide, Ali Hasanov, said the stories by the Guardian and other media partners were a smear. […]

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India has one of the lowest direct tax to GDP (gross domestic product) ratios in the world. This was documented in last year’s Economic Survey. When it comes to taxing income, we have a very generous threshold for exemption. As Praveen Chakravarty pointed out in a BloombergQuint column, India is the second-most generous country, among […]

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There is no evidence that the accountants had any knowledge of alleged wrongdoing or Russian law enforcement interest in the business, T.B.S. Enterprises, which was dissolved last year. The accountancy firm refused to answer Herald questions about what, if anything, they knew about the investigation, which focuses on allegedly fraudulent exports of Russian aluminium to […]

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The Associated Press POMPANO BEACH — A Florida fire chief fired a firefighter recruit and accepted the resignations of three others following an investigation into a noose left hanging over the chair of the only black recruit in a class of six on their last day of training. The men described what happened on June […]

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Maryam Nawaz is following in her father’s footsteps following his disqualification by the Supreme Court. She urges Catholics to support her in the extraordinary elections of September 17th. Bishop Shah prays for her sick mother and blesses her, sparking demands his resignation. “Christian leaders struggle to keep religion divided from the state.” Sep 04, 2017 […]

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ISLAMABAD: Federal Minister for Railways and Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Saad Rafique has called for the resignation of Imran Khan over allegations of misconduct levelled by former PTI member Ayesha Gulalai. Addressing the media after being sworn in as railways minister on Friday, Saad Rafique urged Imran Khan to step down as the […]

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ISLAMABAD: Pakistan has launched the first- ever probe against a Chinese firm in a high-profile money laundering case, according to a media report. Securities and Exchange Commission of Pakistan (SECP) yesterday forwarded the request to Federal Investigation Agency (FIA) after pressed both by Pakistan and Chinese officials. Dawn reported that the case is among the […]

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Islamabad: Pakistan’s accountability body National Accountability Bureau (NAB), whose probing ousted Prime Minister Nawaz Sharif and his family’s offshore wealth revealed in Panama Papers, forwarded four references Friday against the Sharif family and Finance Minister Ishaq Dar. Nawaz Sharif (Photo: Prerna Goyal, CC BY-SA 4.0)Meetings were held in NAB Lahore and Rawalpindi offices under respective director generals to […]

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The UK Criminal Finances Act (the Act) was passed in April 2017, with parts of it due to come into effect on 30 September 2017. The Act touches on a number of areas concerning the financial consequences of crime including introducing new powers in relation to tracing and recovering the proceeds of crime and information […]

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Portuguese President Marcelo Rebelo de Sousa promulgated a law prohibiting cash payments of more than €3,000 (USD$3,544) for residents and €10,000 (or the equivalent in foreign currency), for non-residents. The €10,000 limit for non-residents only applies to payments between individuals, excluding entrepreneurs or traders. The new law seeks to increase electronic payments easily traceable for […]

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This change of plan has created friction within the family. Nawaz first announced Shehbaz as his successor but later led everyone to believe that Shehbaz’s absence from Punjab would be a disaster during this crisis. Shehbaz, on the other hand, wanted his son Hamza to take over Punjab after his election. However, both Shehbaz and […]

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