End of Swiss bank secrecy, black money information to be shared. Geneva/New Delhi,: In a major boost for India and other countries seeking details on suspected black money stashed in Swiss banks, Switzerland has agreed to exchange of information and mutual administrative assistance in tax matters with overseas authorities.
The development virtually pulls down the famed secrecy wall surrounding Swiss banks. According to latest official figures released by Swiss National Bank, Indians in Swiss banks held about Rs. 9,000 crore (2.18 billion Swiss francs) at the end of 2012. The overall amount held in Swiss banks by entities from across the world is estimated at around Rs. 90 lakh crore. Swiss banks can reveal client data to US tax authorities - BANKING. The Grace of Siddha – Episode 16 – Remedy with Black Money? The Grace of Siddha series can be read here.
These are not stories. They are real incidents. Read through these and do reflect if anywhere, anything in these series is resonating with your own self. Do you feel any of these telling anything to you?
LiboR. When ‘Super PACs’ Become Lobbyists. Even Russian 'Black Money' Investors In Cyprus Will Get A Bailout. Timing couldn’t have been worse.
The Bailout Of Russian “Black Money” In Cyprus. “Celebration” at the U.S. Chamber protests Dark Money. Birthday cake, party hats, boxes of presents, and protest signs calling for an end to the corporate takeover of our elections.
These, along with scores of activists who gathered to deliver birthday messages urging disclosure and accountability to one of the nation’s biggest dark money groups, were the main ingredients of the rally organized by Public Citizen and our partners in the Corporate Reform Coalition on Friday, Oct. 19. Held in mock celebration of the U.S. Chamber of Commerce’s 100th “birthday,” the demonstration occurred outside of the U.S. Chamber’s headquarters in Washington, D.C., where activists held up signs with messages like “Democracy is NOT 4 sale!”
And “End Corporate Rule.” You’ve never seen a political ad that said, “Paid for by Chevron” or “I’m Dow Chemical and I approve this message,” right? “The U.S.
Dark Money Political Groups Target Voters Based on Their Internet Habits. (Photo: Internet eye via Shutterstock)Lauren Berns was browsing Talking Points Memo when he saw an ad with President Obama's face.
"Stop the Reckless Spending," the ad read, and in smaller print, Paid for by Crossroads GPS. Berns was surprised. Why was Crossroads GPS, a group that powerful Republican strategist Karl Rove helped found,advertising on a liberal-leaning political website? Looking closely at the ad, Berns saw a small blue triangle in the upper-left hand corner. FDI is a Source of Black Money: Ramdev. Yoga guru Ramdev today claimed that Foreign Direct Investment was a source of black money and demanded that the Centre bring back illegal funds parked abroad.
Black money invested in India through FDI: Ramdev. Bollywood biggies in Black Money sting operation. By Bollywood Hungama News Network, July 11, 2012 - 00:23 hrs IST A sting operation was recently conducted by a leading news channel on various top Bollywood personalities to find out if Bollywood still relies on black money from unknown investors to fund its projects.
Needless to say the results were quite shocking and an eye-opener for sure. The sting operation was conducted on top filmmakers like Vashu Bhagnani, Anees Bazmee and Anubhav Sinha amongst others. Vashu was caught on camera telling the reporter who posed as an investor, "I have many ways to convert black money into white. But I need to be sure that the person is genuine. Anees Bazmee too seemed more than happy when a (fake) investor approached him with the idea of investing some money in his films. Anubhav Sinha, who directed Ra.One, was caught on camera saying, "Many people invest their money in a film but their name is kept a secret. The sting operation didn't just target producers and directors but also actors. Millions of black money deposited in Swiss banks.
In ‘Black Liquor,’ a Cautionary Tale for Deficit Reduction.
IMF Wants Spain To Raise Taxes To Cut Budget Deficit. By PanArmenian Spain should raise taxes and cut government workers’ pay to narrow its budget deficit, the International Monetary Fund said Friday, June 15, according to The Associated Press.
The international lending group said Spain’s deficit is likely to exceed estimates and the government should therefore consider several measures to boost tax revenue. The IMF suggests the government increase in its value-added tax, or VAT, which is a type of sales tax. Spain should also eliminate a deduction on mortgage payments for first-time homebuyers, which was recently reintroduced, the report notes.
Vatican. India discovers huge uranium reserves. Indian uranium ore mine projected to be globe's largest. Carroll Trust. Diamonds. JPMorgan Repurchases $8B Stocks, Warrants - Syndication Content Article. How to Indefinitely Detain JP Morgan President Jamie Dimon. Black Money. Crisis of competence. Economic policy in India, especially in the last two years, has been unfocused on the real issues and instead has diverted attention to more peripheral ones.
The separation of political power from the leader of the government has made things much worse. The National Advisory Council is the ultimate policymaker, particularly on all domestic economic policy issues, not the cabinet; that is, the leader of the Congress, not the prime minister. The NAC is composed of many extraordinary and compassionate people, with sympathy for the poor and vulnerable, but little capability for thinking through the mechanics for policy implementation. Black money: We can't make details of Indian account holders public, says Pranab. Black money: Govt refuses to disclose names. The BJP's bid to censure the UPA government in the Lok Sabha for "failing" to bring black money back from foreign banks was rejected by the House on Wednesday.
Senior BJP leader LK Advani speaks in Lok Sabha in New Delhi. Black Money: 100 Mumbaikars on secret Swiss list. Deeptiman Tiwary, Mumbai Mirror Dec 15, 2011, 10.06am IST Contrary to popular perception, it's not our politicians who top the list of black money hoarders in foreign banks, but corporates and Bollywood personalities. If a list of account holders from India at HSBC's Geneva branch is anything to go by, politicians from Maharashtra have hardly any money in Swiss accounts. Punjab polls go global: $ 1 lakh election booty seized. Delhi businessman admits to Rs 73 cr black money. New Delhi: In the biggest ever disclosure of black money stashed abroad, a Delhi-based businessman has admitted to an undisclosed income of Rs 73 crore to the Income Tax department. He also gave details of secret lockers held in banks in Switzerland, Singapore and the US.
The I-T department suspects a multi-layered Hawala racket and money laundering being operated through these accounts, both in India and abroad, and is probing the role of some high profile individuals with possible political links. Anna Hazare and Jan Lokpal Bill – Drama Ends. It is scary to realize for what reasons the Lokpal could have been used if it became a reality under the current shape. Be the change you want to see. Give black money details: CIC to Prez Secretariat. New Delhi: The Central Information Commission has directed the President's Secretariat to disclose details of correspondence among various ministries and the Delhi Police related to black money. The order came following an appeal by an RTI applicant who had sought to know the action taken on the letters written by him to Finance and External Affairs ministries among other public authorities in connection with the illegal wealth stashed abroad.
During the hearing, the Appellant also submitted that he was mainly interested to get from the office of the President Secretariat the file notings concerning their correspondence with the Banking Division, Ministry of Finance, Ministry of External Affairs and the Delhi Police. Black money probe hits roadblock. The probe into the alleged black money held by 18 Indians in Liechtenstein's LGT bank list has hit a dead-end with the Central Board of Direct Taxes (CBDT) refusing to share critical details with the Enforcement Directorate (ED).
ED officials who recently questioned nine of the 18 Indians in Mumbai and Kolkata said they are unable to confront the accused with "sufficient evidence" as the CBDT has refused to share the list of witnesses, sanction order related to the bank accounts in LGT and details about Manichi Trust. Those questioned included owners of Rosy Blue Pvt and Millenium Herbal Care, both in Mumbai, and the family of Mohan Dhupelia in Kolkata. All of them denied having accounts in LGT, now known as Fiduco Trenhand AG. Breakthrough in black money case?-News-Exclusives-TIMESNOW.tv - Latest Breaking News, Big News Stories, News Videos. 'UPA govt dragging its feet on blackmoney' An offshoot of privatization.
Keiser Report: Wall Street Gangsta! (E236) Egypt to resume talks with IMF over emergency $3bn credit facility. Graffiti depicting a high ranking army officer at a protest camp in Cairo. Protesters want the ruling military council and its interim government to step down. Photograph: Nasser Nasser/AP Egypt's interim government is to resume talks with the International Monetary Fund over an emergency $3bn (£2bn) credit facility amid signs of a deepening crisis in its hard-hit economy.
UBS Bets on Private Wealth Ties to Tilt Russian M&A Tables. BofA mulls asset sales to keep up with the Joneses. Week in Review Part I: Europe, Washington and Wall Street. Bank Earnings Jump 57% in Analyst Forecasts. Analysts’ failure to foresee declining earnings per share for the biggest U.S. banks last year hasn’t stopped them from predicting an even bigger profit surge for 2012.
The six largest lenders, including JPMorgan Chase & Co. (JPM), Bank of America Corp. (BAC) and Goldman Sachs Group Inc. (GS), may post an average profit increase of 57 percent this year, according to 184 analysts’ estimates compiled by Bloomberg. A year ago, analysts predicted profit at the banks would climb 32 percent in 2011. Improved trading results, more investment-banking deals, expense-cutting measures and lower credit costs will lead to the increase in earnings that didn’t materialize last year, analysts say. “The banks could get some positive operating leverage in 2012 from trading normalizing and expenses normalizing,” said Chris Kotowski, an Oppenheimer & Co. analyst in New York who estimates at least an 18 percent earnings-per-share increase for each of the six banks.
JPMorgan sued for $95 million over mortgage securities. Layoffs Watch: Morgan, Goldman, Citi, Bank Of America. Super PACs are a dangerous new weapon. Who rules America? The Bush Crime Family. Behind every great fortune there is a crime. Honore de Balzac (1799 - 1850) George Bush’s father or as some call him, Bush 41 is now complaining about the unfair treatment that his idiot son George is supposedly getting from the media. The same media that sat on their hands while a bloodless “coup de tat” took place in this country as Bush and Cheney stole two elections, started a war on lies and, bankrupted this nation socially, morally, and economically finally woke up much to the chagrin of old man Bush.
French ex-President Jacques Chirac guilty of corruption. Christian Nazi News. Indian black money overseas exceeds combined deposits of other nationals: Advani. India enters ‘black money’ agreement - Caribbean - Go-Jamaica. Govt taking action against black money hoarders: Khurshid - PTI - Black money: Talks with 16 nations concluded to check flow. Amnesty plan to net black money. India not serious about unearthing black money in Swiss banks, says whistleblower.