Home 

US judge holds three Chinese banks in contempt for refusing to comply with probes into violations of North Korea sanction

A US judge has found three large Chinese banks in contempt for refusing to comply with subpoenas in an investigation into North Korean sanctions violations. The order triggers for the first time a provision that could cut off one of China’s largest banks from the US financial system at the demand of the US attorney general or treasury secretary.The three banks are not identified, but details in court rulings align with a 2017 civil forfeiture action in which the Justice Department alleged that… Source link

Read More
Vietnam 

State auditors need power to fight violations – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  General Auditor of the State Audit of Vietnam Hồ Đức Phớc responded to National Assembly deputies’ comments on Friday. — VNA/VNS Photo Phương Hoa HÀ NỘI — The State audit must be given more power to improve the management of State assets, National Assembly deputies said on Friday. According to NA deputy Đỗ Ngọc Thịnh, only administrative wrongdoings regulated in the Law on handling administrative violations released in 2012 can be handled. However, the law does not include violations and solutions for those violations in the State audit activities…

Read More
Home 

China’s antitrust regulator fines Ford’s Changan venture US$23.6 million for price violations amid worsening trade tensions with US

China’s antitrust regulator slapped a US$23.6 million fine on Ford Motor Company’s Chinese venture for restricting sales prices in its hometown, taking the second such action against US carmakers in three years as trade tensions deteriorated between the world’s two largest economies.Changan Ford Automobile, the 50:50 venture between Michigan-based Ford and Chongqing Changan Automobile, must pay a penalty of 162.8 million yuan (US$23.6 million) – equivalent to 4 per cent of the venture’s annual… Source link

Read More
Vietnam 

Ministry tackles software copyright violations – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Enforcement efforts are underway in provinces and cities across the country following software owners’ requests to take stronger action to protect copyright and software ownership, according to the Ministry of Culture, Sports and Tourism Inspectorate. Every year, the ministerial inspectorate inspects an average of 80-100 companies and entities, the ministry said. “There have recently been changes in the organisational setup this year among coordinating agencies, especially the police, but the actions are still very much ongoing,” said an inspector who asked…

Read More
Vietnam 

Tough stance needed on tax official violations – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

NA deputy Trương Trọng Nghĩa from HCM City. — VNA/VNS Photo HÀ NỘI — National Assembly (NA) deputies agree it is important to penalise tax officials who provide illegal solutions for taxpayers. According to NA deputy Trương Trọng Nghĩa from HCM City, most of the cases are businesses complaining about tax officials who requested bribes to complete the tax paying process. Some tax officials have given bad advice and illegal solutions to help taxpayers avoid paying…

Read More