Australian banks face EU Set up to allow scrutiny

[LONDON] Nineteen banks in the European Union will need to set up new holding companies that regulators can scrutinise them more closely, an EU discussion paper says, mirroring steps taken by the United States. The European Commission suggested last November that banks headquartered outside the bloc consolidate their EU activities under an “intermediate parent undertaking” or IPU in reaction to …

India's ONGC seeks 250b rupees to be raised by shareholders ' nod

[MUMBAI] India’s state-owned Oil and Natural Gas Corp said on Monday it wanted to increase 250 billion rupees (S$5.29 billion) through debt to fund acquisitions and capital expenditure this financial year. ONGC’s first debt issue in over a decade would likely purchase the government’s 51.1-per cent stake in refining and marketing firm Hindustan Petroleum Corp Ltd, company officials and analysts …

‘Red lines’ vs ‘lines’ in policy

After attending the “Victory Day” reception in the presidency on Aug. 30, I drew the following conclusions: – Turkey is ready to conduct all types of maneuvers to prevent unwanted situations and fait accomplis to its south. Whatever is necessary will be done. The decision was taken. I saw the feeling of relief that this decision was taken at the …

World is shaken by North Korea with hydrogen bomb

SEOUL – Agence France-PresseNorth Korea said it detonated a hydrogen bomb designed for a long-range missile on Sept. 2 and called its sixth and most powerful nuclear test a “perfect success,” sparking world condemnation and promises of tougher U.S. sanctions. Pyongyang residents threw their arms aloft in triumph as a jubilant television newsreader hailed the “unprecedentedly large” blast. It “marked …