ANZ to move files to India
THE confidential banking records of three million customers of the ANZ Bank are being moved offshore to India.
In a move that has alarmed consumer groups and police, much of the bank’s search and retrieval processes of the records will be undertaken in ANZ’s offices in Bangalore.
Fraud squad police fear that will allow criminal elements to hide money laundering and other illegal financial transactions more easily.
And up to 20 Australian jobs will be lost.
A source within the squad said the move has also raised doubts over the ability of police to gain access to the banking records of criminals and suspects.
More: heraldsun.news.com.au
Related Travel Information
After AIIMS, Ramadoss eyes Medical Council of India
Health Minister Anbumani Ramadoss may have suffered a set back from the Delhi High Court over his controversial move to destroy the autonomy of the premier All India Institute of Medical Sciences (AIIMS), but his next move is to subjugate another autonomous body, the Medical Council of India (MCI).
The move to destroy MCIs autonomy and virtually turn it into an extension of the health ministers office will have far-reaching implications across the country, particularly in Maharashtra and the southern states. The MCI, established by an Act of Parliament in 1956, recommends the
EU attacks India, Nath hits back
Hong Kong: The situation was fluid on Thursday as all the ministerial groups at the 6th ministerial meet of the World Trade Organisation were in hectic consultations to narrow down serious differences and look for convergences.
But divisions still remain irreconcilable, with the European Union for the first time attacking India and Brazil, the leaders of the G20 countries; the US and the EU continuing their tirade against each other and the developing countries attacking the EU for the first time for not respecting their own commitments that were part of the Doha declaration.
Desperate efforts
Telecom N.Z. May Follow India's Reliance in Move to GSM Network
Telecom Corp., the worst-performing stock on New Zealands benchmark index this year, may have to spend NZ$400 million ($264 million) to switch mobile phone technology because of dwindling global support for its system.
The former government monopoly uses CDMA, or code-division multiple access technology, a system that has seen its global market share drop to 18 percent, from 21 percent in 2004. GSM technology, used by rival Vodafone Group Plc, has 82 percent, attracting more investment from handphone makers.
The risks are moving a little bit against us,
India offers tariff cuts, asks rich states to match
India on Saturday offered to lower its tariff barriers by more than the 50 per cent it has already proposed to make global trade talks a success, but added that such a move would be implemented only if developed economies could match or exceed their offer.
"We have offered a 50 per cent cut in tariffs. This has not been matched," said a statement issued by India at the end of a meeting of Group of Seven finance ministers which representatives of leading emerging economies also attended.
"India is willing to undertake higher cuts
As India debates N-deal, China & Pak move to close rival pact
As Indias nuclear debate enters the Rajya Sabha tomorrow, Beijing and Islamabad are moving towards deeper bilateral atomic energy cooperation.
Recent reports from Islamabad say a deal on buying six 300 MW nuclear reactors from China might be finalised when President Hu Jintao visits Pakistan at the end of this year.
As the Opposition quibbles over real and imagined problems of the non-proliferation conditions that New Delhi accepted in the deal with the United States, China is preparing to rapidly expand its own nuclear power programme.
More : indianexpress.com
