ZURICH (Reuters) - Switzerland's highest court has allowed tax authorities to turn over bank account details of two Indian citizens who had fought the release on the grounds that India's request for assistance in a tax-dodging probe arose from stolen bank data. The case involved information leaked by whistleblower Herve Falciani, a French citizen who worked for HSBC's Swiss private bank and in 2008 disclosed details on thousands of clients he suspected were using accounts to evade tax. The information sparked investigations in several countries and put Swiss banking secrecy in a harsh spotlight. Swiss courts have sentenced Falciani in absentia to five years in jail for industrial espionage but he has avoided prison by remaining outside Switzerland. His leak forced Swiss courts to grapple with requests from other countries to help prosecute suspected tax dodgers whose Swiss accounts came to light. Last year, the Swiss supreme court rejected a French request for help in investigating a … [Read more...] about Swiss can give bank client data to India in tax dodge case
India
Flipkart’s loyalty program to launch on India’s Independence Day
In a bid to take on the lucrative loyalty service dominated by Amazon, India's e-commerce giant Flipkart is set to launch its loyalty service, dubbed Flipkart Plus on 15 August this year. Unlike Amazon's Prime, Flipkart Plus will be a no-fee, points-based program with third party benefits, such as Hotstar. The service will reward regular customers, who will earn points or coins for every purchase. The more a customer shops, the more points he/she earns and these can then be used to unlock rewards and benefits tied to the platform, such as faster delivery and personalised discounts. At launch, the service will work with third-party companies like Hotstar, Zomato, MakeMyTripand Cafe Coffee Day where Plus members can redeem their points. Flipkart hopes to add more partners over time to the program. It was first reported that Flipkart was planning to relaunch its loyalty program in October 2017, after its first attempt Flipkart First failed. The loyalty program is a major factor for … [Read more...] about Flipkart’s loyalty program to launch on India’s Independence Day
India limp to 76 for three after Curran strikes
BIRMINGHAM (Reuters) - India suffered early blows in their reply to England's modest first innings total with English left armer Sam Curran pegging them back to 76 for three at lunch on the second day of the first test match. After getting off to a decent start with the Indian openers chalking up a half century partnership, the visitors were rocked by three swift strikes by the 20-year-old swing bowler who is playing in his only second test match. The opening duo of Murali Vijay and Shikhar Dhawan got the visitors off to a good start with Dhawan looking the more dangerous of the two despite some good bowling by Stuart Broad and James Anderson. But the introduction of Curran turned the tables in favour of the hosts as he dismissed India's top three batsmen in the space of nine runs. Dhawan scored 26 off 46 deliveries peppered with some fluent strokes while Vijay made 20. KL Rahul made only four. Earlier, England quickly folded up for 287 in their first innings after a dramatic collapse … [Read more...] about India limp to 76 for three after Curran strikes
Vietnam-India defence policy dialogue concretises joint commitments
Vietnamese Deputy Defence Minister Sen. Lieut. Gen. Nguyen Chi Vinh The official, who co-chaired the dialogue, told the Vietnam News Agency that he is pleased with results of the event, which, he said, is to concretise commitments reached by high-ranking leaders of the two countries, especially those between the two defence ministries aiming to intensify defence cooperation, mutual political trust and national defence of both countries. According to the deputy minister, Vietnam and India have agreed to organise high-level visits and delegation exchanges, and cooperate in training, defence industry and high-technology as well as between armed services. To that end, it requires the two sides to roll out specific programmes and plans for effective cooperation, he said, noting that during the dialogue, they reached a programme on defence collaboration in the next five years. Accordingly, they will step up the exchange of strategic viewpoints and defence … [Read more...] about Vietnam-India defence policy dialogue concretises joint commitments
Vietnam, India hold defence policy dialogue
At the function, Indian Defence Secretary Sanjay Mitra said the dialogue is an important mechanism for the two countries to implement agreements secured by their leaders in contribution to the development of Vietnam – India comprehensive strategic partnership. The Vietnam Defence Ministry considers cooperation with India a top priority and spares no effort to help it grow, stated Deputy Minister Nguyen Chi Vinh. The sides agreed that bilateral defence ties have been continuously boosted, bringing about practical outcomes. They highlighted their serious implementation of signed documents and agreements between Vietnamese and Indian defence leaders during their visits to each other’s nations. They said the two bodies have extended and promoted a series of cooperation mechanisms such as the deputy ministerial level defence policy dialogue, defence working group meeting, consultation between staff officers of the two navies, land and air forces; and exchange of … [Read more...] about Vietnam, India hold defence policy dialogue