Latest news with #economiccrimes
Khaleej Times
19-07-2025
- Business
- Khaleej Times
India: Google, Meta summoned by regulator in betting app case, ANI reports
India's Enforcement Directorate agency, which probes economic crimes, has summoned representatives from Google and Meta to appear on Monday in connection with a case involving betting apps, ANI news agency reported on Saturday, citing official sources.
CNA
19-07-2025
- Business
- CNA
India summons Google and Meta in betting app case, ANI reports
India's Enforcement Directorate agency, which probes economic crimes, has summoned representatives from Google and Meta to appear on Monday in connection with a case involving betting apps, ANI news agency reported on Saturday, citing official sources.
Reuters
19-07-2025
- Business
- Reuters
India summons Google and Meta in betting app case, ANI reports
July 19 (Reuters) - India's Enforcement Directorate agency, which probes economic crimes, has summoned representatives from Google (GOOGL.O), opens new tab and Meta (META.O), opens new tab to appear on Monday in connection with a case involving betting apps, ANI news agency reported on Saturday, citing official sources.
Free Malaysia Today
13-06-2025
- Business
- Free Malaysia Today
26 arrests in new Venezuela crackdown on dollar black market
Mass arrests have occurred over what Venezuelan President Nicolas Maduro has dubbed the 'criminal dollar'. (AP pic) CARACAS : Venezuelan authorities have detained 26 people in a fresh crackdown on the dollar black market, bringing the total number of arrests in recent days to 50, the country's top prosecutor said Saturday. 'The total number of detainees for economic crimes and illegal sale of foreign currency… is 50,' attorney general Tarek William Saab told AFP. The arrests come as Venezuela's government seeks to rein in a foreign exchange black market that developed after a 2018 decision to allow the use of US dollars to pay for goods and services in the country. That decision aimed to deal with the effects of runaway inflation that rendered the domestic currency, the bolivar, essentially worthless. The dollar has since then become the de facto currency in Venezuela. Caracas never opted for formal dollarization, and has instead pegged the value of the local currency to the greenback. The black market has swelled as high demand for dollars has far outpaced their availability through official channels. For years, the black market was tolerated. Things changed in 2024 when the gap between the official and 'parallel' rates expanded quickly, bringing fresh inflationary pressure for the oil-rich but chronically mismanaged and heavily sanctioned South American country. After months of stability with similar rates, the black market dollar had in recent weeks been trading between 25% and 50% higher than the official rate to the bolivar, before narrowing again. On Saturday, the official price was trading at $1 against 99.09 bolivares, while on the black market, the dollar was quoted at 115.37 bolivares, after soaring to 150 for some operators a few weeks ago. This gap in rates has raised fears of a return to hyperinflation, severe recession and shortages. The government, which had long ignored the black market, suddenly toughened its stance, with mass arrests over what president Nicolas Maduro has dubbed the 'criminal dollar.' The rate gap has widened since Washington's decision to reverse an easing of the oil embargo imposed on Venezuela, pushing up prices and depressing the bolivar. The return to a 'hard' embargo in effect deprives Venezuela of dollars on the international market, even as Caracas is rushing to inject millions of dollars into the market to prevent its exchange rate gap from widening.
Free Malaysia Today
29-05-2025
- Business
- Free Malaysia Today
Former Mauritanian president jailed for 15 years
The former president led the country for a decade after coming to power in a 2008 coup. (EPA Images pic) NOUAKCHOTT : Mauritania's former president, Mohamed Ould Abdel Aziz, was sentenced to 15 years in prison on Wednesday on corruption charges following an appeal to a Nouakchott court by both the state and Aziz's defence against a sentence imposed in 2023. Abdel Aziz led the West African country for a decade after coming to power in a 2008 coup, followed by an election a year later. He was an ally of Western powers fighting Islamist militants in the Sahel region. Abdel Aziz, who has denied corruption allegations, was found guilty of economic crimes and abuse of power. He was initially handed a five-year prison sentence in Dec 2023 before the state appealed against the leniency of that punishment and Aziz's team appealed the ruling, saying only a high court of justice was qualified to try a former president. 'It is a decision that reflects the pressure the executive branch exerts on the judiciary,' defence lawyer Mohameden Ichidou told Reuters, adding that the defence would appeal against the decision to the Supreme Court. Brahim Ebety, one of the plaintiff lawyers for the Mauritanian state, welcomed the ruling. 'All the evidence has established that the former president, who single-handedly ruled the entire country, is the perpetrator of illicit enrichment, abuse of power, and money laundering,' he said. Abdel Aziz was elected on a five-year mandate in 2009 and for a second term in 2014. An election in 2019 led to a peaceful transfer of power to Mohamed Ould Ghazouani, initially an ally of Abdel Aziz, but whose parliament later brought charges against him.
