North America
Swiss bank ceases trading after U.S fine
A Swiss bank is to cease trading after pleading guilty to tax evasion in a U.S. court. Wegelin, the country’s oldest bank dating back to 1741, admitted helping U.S. citizens evade tax from the Inland Revenue. The bank will close permanently with a near $60million fine after hiding $1.2billion for almost a decade. It is the first foreign bank to come under such charges in a U.S. court. U.S. Attorney Preety Bharara noted “The bank wilfully and aggressively jumped in to fill a void that was left when other Swiss banks abandoned the practice due to pressure from US law enforcement.”
Europe
Vatican stops card transactions
Italy’s central bank has barred Vatican City from using card transactions following fears over money laundering. Visitors of the city-state will now have to use cash. The decision by Italy’s central bank was taken because the Vatican city doesn’t comply fully with the E.U.’s preventative mechanisms to avoid money laundering. Subsequently, the bank that run card-transaction operations in Vatican City, haven’t had authorisation renewed into 2013. The Vatican says it is working to rectify the situation affecting visitors.
Asia
India: Delhi to appoint more female police officers
Delhi authorities have made a commitment to recruit more female police officers. The decision follows protests for more women representation and justice in the wake of a woman killed in a gang rape last month. The home minister is reported to be holding meetings with senior police from across the country in a bid to stop and prosecute crimes against women. Five individuals have been charged with murder and rape of the 23 year old with a sixth suspected due to be tried in a juvenile court. Some commentators claim there are nearly 100,000 rape cases pending prosecution in the judicial system.
Latin America
Falkland’s dispute: British Newspaper replies to President’s letter
The Sun, a British Newspaper, has placed an open letter to Argentinean President Kirchner, warning “hands off” the territory. The letter, published in an ad space, argues that islanders are “resolutely British” and that claims the island was ever Argentinean are “unfounded”. In 1982 Argentina and the U.K. went to war in a dispute over the islands. Prime Minister David Cameron has said the island’s sovereignty must be self-determined. A referendum is due in March.
Doubts over Chavez’ health
The Venezuelan President is again suffering health “complications”, a week before he is due to be sworn in for a successive term following October’s election win. The 58 year old underwent cancer surgery last year and hasn’t been well since. In a statement, a Minister told the BBC that he has a lung infection that has “led to a respiratory insufficiency”. The Government has said that the “right-wing press” is telling lies about Mr. Chavez’ condition.
Middle East
Syria conflict: Nine dead in petrol station bombing
Nine people have been confirmed dead at the scene of a car bombing at a petrol station in Damascus. Activists have claimed that the attack occurred when the station was busy, with the London based Syrian Observatory for Human Rights claim the number will likely exceed a dozen. One witness told Reuters news agency, “The station is usually packed even when it has no fuel. There are lots of people who sleep there overnight, waiting for early morning fuel consignments.” The bomb comes after yesterday’s attack that killed dozens of people.
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