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  • “With the acceleration of the global energy transition, we do not believe that the long-term economic or investment rationale justifies continued investment in this sector," the world’s largest money manager with $1.8 trillion in assets under management, said in a letter to its clients.

    The facility will also host a toll-free number- 1800117574 - where people can inform the department about any activity of use of money power, illegal distribution of cash among other such election-related crimes. The control room has been established in the investigation wing of the department here.

    A rally in global equity markets and strong inflows across business segments helped the company lure $128.84 billion in new money during the fourth quarter through Dec. 31.

    Naysayers have been forecasting a recession for years as US extends its longest period of continuous growth.

    The CBI has booked 51 entities, mostly owned by Chennai residents, for allegedly remitting Rs 1,038 crore black money to Hong Kong in connivance with unidentified officials of three state-owned banks -- Bank of India, SBI and Punjab National Bank. The CBI has alleged that 24 accounts were used for outward foreign remittances in USD equivalent to Rs 488.39 crore.

    It is alleged that 51 entities, mostly owned by Chennai residents, allegedly remitted Rs 1,038 crore unaccounted black money to Hong Kong in connivance with unidentified officials of three state owned banks. CBI had received the information that 51 current accounts of 48 firms were opened in four branches of these banks "solely for effecting outward remittances" to the tune of Rs 1,038.34 crore.

    Trusts, especially those set up in jurisdictions like Cayman Islands, Panama and British Virgin Islands, have often been seen as routes for evading taxes. In addition, individuals who are suspected to have moved abroad after evading taxes back in India are also being probed and their banking details are in the process of being shared.

    The company is expected to meet a group of bankers in Atlanta in the next few weeks as US Treasury yields are dropping this month, lowering global funding costs. It is in the process of appointing investment bankers. The US benchmark treasury yield, a key gauge for pricing global bonds, has dipped 13 basis points this calendar year until Wednesday.

    Leading agencies including Income Tax, Enforcement Directorate, Serious Fraud Investigation Office and representatives of RBI and SEBI have suggested integration of core banking systems of all banks through data analytics and artificial intelligence thereby tracing the flow of black money through RTGS in different accounts before reaching actual beneficiaries.

    The two industries have converged on the idea of cars providing services and features delivered 'over the air'.

    "Information exchanged under such tax agreements is covered under confidentiality provisions of respective agreements. Thus, disclosure of tax related information and information sought/obtained from foreign governments is exempted under section 8 (1) (a) and 8 (1) (f) of the Right to Information (RTI) Act," FinMin said in response to an RTI application.

    The Paris-based international terror financing watchdog, which kept Pakistan on the Grey List for an extended period till February 2020, had warned in October that Islamabad would be put on the Black List if it did not comply with the remaining 22 points in a list of 27. French envoy Emmanuel Lenain said that "nobody can say Pakistan is fulfilling its commitment."

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