Thailand tows bitcoin trader’s floating home; owners may face death sentence

The Royal Thai Navy has towed a floating home owned by an American bitcoin trader and his Thai girlfriend, who currently face possible death sentences or life imprisonment for “deteriorating Thailand’s independence,” according to multiple reports. Chad Elwartowski and his partner Supranee Thepdet lived in the cabin roughly 15 miles from the Thai coast to avoid jurisdiction from the Thai government, according to British news outlet Sky News. Thai authorities have revoked Elwartowski’s visa and ch


The Royal Thai Navy has towed a floating home owned by an American bitcoin trader and his Thai girlfriend, who currently face possible death sentences or life imprisonment for “deteriorating Thailand’s independence,” according to multiple reports. Chad Elwartowski and his partner Supranee Thepdet lived in the cabin roughly 15 miles from the Thai coast to avoid jurisdiction from the Thai government, according to British news outlet Sky News. Thai authorities have revoked Elwartowski’s visa and ch
Thailand tows bitcoin trader’s floating home; owners may face death sentence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: shirley tay
Keywords: news, cnbc, companies, according, thai, independence, owners, thailand, bitcoin, jurisdiction, deteriorating, face, sentence, traders, life, death, imprisonment, floating, sky, thailands, tows


Thailand tows bitcoin trader's floating home; owners may face death sentence

The Royal Thai Navy has towed a floating home owned by an American bitcoin trader and his Thai girlfriend, who currently face possible death sentences or life imprisonment for “deteriorating Thailand’s independence,” according to multiple reports.

Chad Elwartowski and his partner Supranee Thepdet lived in the cabin roughly 15 miles from the Thai coast to avoid jurisdiction from the Thai government, according to British news outlet Sky News.

Thai authorities have revoked Elwartowski’s visa and charged the couple for violating Thai sovereignty — an offense punishable by the death penalty or life imprisonment, according to Reuters.

“The couple announced on social media declaring their autonomy beyond the jurisdiction of any courts or law of any countries, including Thailand,” Sky News reported Thai Rear Admiral Vithanarat Kochaseni as saying. “We see such action as deteriorating Thailand’s independence.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: shirley tay
Keywords: news, cnbc, companies, according, thai, independence, owners, thailand, bitcoin, jurisdiction, deteriorating, face, sentence, traders, life, death, imprisonment, floating, sky, thailands, tows


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Scotland will prepare for an independence referendum before May 2021

Scotland should hold an independence referendum before the current Scottish parliamentary term ends in May 2021 and will prepare legislation for this to happen, First Minister Nicola Sturgeon said on Wednesday. “A choice between Brexit and a future for Scotland as an independent European nation should be offered in the lifetime of this parliament,” Sturgeon told Holyrood, Scotland’s devolved parliament. Sturgeon is under pressure from her nationalist movement to provide a clear way forward in th


Scotland should hold an independence referendum before the current Scottish parliamentary term ends in May 2021 and will prepare legislation for this to happen, First Minister Nicola Sturgeon said on Wednesday. “A choice between Brexit and a future for Scotland as an independent European nation should be offered in the lifetime of this parliament,” Sturgeon told Holyrood, Scotland’s devolved parliament. Sturgeon is under pressure from her nationalist movement to provide a clear way forward in th
Scotland will prepare for an independence referendum before May 2021 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jeff j mitchell, getty images
Keywords: news, cnbc, companies, sturgeon, vote, united, britain, stage, referendum, brexit, 2021, prepare, scotland, parliament, kingdom, independence


Scotland will prepare for an independence referendum before May 2021

Scotland should hold an independence referendum before the current Scottish parliamentary term ends in May 2021 and will prepare legislation for this to happen, First Minister Nicola Sturgeon said on Wednesday.

“A choice between Brexit and a future for Scotland as an independent European nation should be offered in the lifetime of this parliament,” Sturgeon told Holyrood, Scotland’s devolved parliament.

She said a devolved parliament bill would be drawn up before the end of 2019.

The permission of Britain’s sovereign parliament at this stage was not needed, she said, but would be eventually be necessary “to put beyond doubt or challenge our ability to apply the bill to an independence referendum.”

Sturgeon is under pressure from her nationalist movement to provide a clear way forward in the quest for an independent Scotland.

But Britain is mired in political chaos due to Brexit and it is still unclear whether, when or even if Britain will leave the European Union.

Scotland, part of the United Kingdom for more than 300 years, rejected independence by 10 percentage points in a 2014 referendum.

Differences over Brexit have strained the United Kingdom. Scotland and Northern Ireland voted to stay in the EU in a 2016 referendum, while Wales and England vote to leave.

Those who want to maintain the United Kingdom argue that Brexit has made no difference to how Scots feel, and the secession vote should not be repeated.

But Sturgeon argued that leaving the world’s largest trading bloc endangers Britain and Scotland’s economic well-being.

“We face being forced to the margins, sidelined within a UK that is itself increasingly sidelined on the international stage. Independence by contrast would allow us to protect our place in Europe,” she said.

“We need a more solid foundation on which to build our future as a country.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jeff j mitchell, getty images
Keywords: news, cnbc, companies, sturgeon, vote, united, britain, stage, referendum, brexit, 2021, prepare, scotland, parliament, kingdom, independence


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f


Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f
Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


Turkish central bank needs to be 'fully independent,' IMF's Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now.

One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession.

“Turkey faces a number of challenges, and one of them is that the central bank needs to be fully independent so it can continuously assess and tighten policies as circumstances change in a forward-looking manner,” Poul Thomsen, director of the International Monetary Fund’s Europe department, told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C. over the weekend.

“So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be fully independent in its assessment of monetary policy in addition to a number of other challenges on fiscal policy, and more transparency.”

Turkey’s economy is already in recession, rocked last year after fears over government interference into central bank independence, over-leveraged banks, a large current account deficit and a diplomatic spat with the U.S. triggered investor and capital flight. The lira lost 36 percent of its value against the dollar by the end of 2018.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Former Scottish leader Salmond charged with attempted rape

Former Scottish First Minister Alex Salmond denied committing any crime after he appeared in court on Thursday, charged with multiple sex offences including attempted rape. Scottish prosecutors said Salmond, 64, who said he had voluntarily gone to police on Wednesday after becoming aware of the investigation, had been charged with nine counts of sexual assault, two counts of attempted rape, two counts of indecent assault and breach of the peace. Salmond, who did not enter a plea, was released on


Former Scottish First Minister Alex Salmond denied committing any crime after he appeared in court on Thursday, charged with multiple sex offences including attempted rape. Scottish prosecutors said Salmond, 64, who said he had voluntarily gone to police on Wednesday after becoming aware of the investigation, had been charged with nine counts of sexual assault, two counts of attempted rape, two counts of indecent assault and breach of the peace. Salmond, who did not enter a plea, was released on
Former Scottish leader Salmond charged with attempted rape Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24
Keywords: news, cnbc, companies, scottish, rape, led, independence, charged, leader, attempted, case, salmond, counts, sturgeon, harassment, snp, court


Former Scottish leader Salmond charged with attempted rape

Former Scottish First Minister Alex Salmond denied committing any crime after he appeared in court on Thursday, charged with multiple sex offences including attempted rape.

Scottish prosecutors said Salmond, 64, who said he had voluntarily gone to police on Wednesday after becoming aware of the investigation, had been charged with nine counts of sexual assault, two counts of attempted rape, two counts of indecent assault and breach of the peace.

“I am innocent of any criminality whatsoever,” Salmond told reporters outside Edinburgh Sheriff Court following the brief hearing which media and public were not allowed to attend.

“I refute absolutely these allegations of criminality and I will defend myself to the utmost in court,” he added. “I would love to say a great deal more but I’ve got to observe the rules of the court and in court is where I will state my case.”

Salmond, who did not enter a plea, was released on bail with his next court date yet to be fixed.

The combative politician, nicknamed “Wee Eck” (little Alex), led the devolved Scottish government for seven years until 2014.

As leader of the Scottish National Party (SNP), he helped to push support for Scottish independence to a record level but Scotland ultimately voted to stay part of the United Kingdom in a 2014 referendum.

Last year, Salmond took legal action against the Scottish devolved government now led by his successor Nicola Sturgeon over how it handled a complaints process against him in a harassment case.

Salmond, who denied any wrongdoing, won a judicial review earlier this month on how that case was handled by the Scottish government when it conceded it had acted unlawfully in probing the harassment claims.

The case pitted the two most popular figures in the Scottish independence movement against one another, and some commentators believe it could weaken Sturgeon’s leadership just as she seeks to start a new drive for secession amid the chaos of Britain’s exit from the European Union.

A dispute has continued to simmer between two factions in the SNP around what Sturgeon knew about the case and when, and an inquiry by the Scottish parliament is under way to discover more.


Company: cnbc, Activity: cnbc, Date: 2019-01-24
Keywords: news, cnbc, companies, scottish, rape, led, independence, charged, leader, attempted, case, salmond, counts, sturgeon, harassment, snp, court


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

McDonald’s apologizes after people said an ad supported Taiwan independence from China

An ad from McDonald’s Taiwan that sparked a row about whether it showed support for the country’s independence from China has been withdrawn. People in China protested against the ad online, accusing the company of supporting an independent Taiwan, according to a report on the Focus Taiwan website on Saturday. McDonald’s Taiwan said the ad promoted its Egg McMuffin and aimed to boost students’ morale, while McDonald’s China said it supported the “One China” principle. “We regret about the ad whi


An ad from McDonald’s Taiwan that sparked a row about whether it showed support for the country’s independence from China has been withdrawn. People in China protested against the ad online, accusing the company of supporting an independent Taiwan, according to a report on the Focus Taiwan website on Saturday. McDonald’s Taiwan said the ad promoted its Egg McMuffin and aimed to boost students’ morale, while McDonald’s China said it supported the “One China” principle. “We regret about the ad whi
McDonald’s apologizes after people said an ad supported Taiwan independence from China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: lucy handley
Keywords: news, cnbc, companies, taiwan, showed, independence, mcmuffin, support, china, focus, apologizes, supported, students, ticket, ad, mcdonalds


McDonald's apologizes after people said an ad supported Taiwan independence from China

An ad from McDonald’s Taiwan that sparked a row about whether it showed support for the country’s independence from China has been withdrawn.

The commercial, broadcast on YouTube, showed a student’s exam admission ticket stating her nationality as Taiwanese. She drops the ticket on the street and it’s run over by a truck, before being washed clean by a water sprayer. The ad then rewinds and the student is shown eating an Egg McMuffin, known as a Man Fu Bao — which reportedly has a similar pronunciation in Mandarin to “full of good luck.”

People in China protested against the ad online, accusing the company of supporting an independent Taiwan, according to a report on the Focus Taiwan website on Saturday.

McDonald’s Taiwan said the ad promoted its Egg McMuffin and aimed to boost students’ morale, while McDonald’s China said it supported the “One China” principle. “We regret about the ad which had stirred up such an unnecessary misunderstanding,” McDonald’s in China said on its Weibo page, according to Focus Taiwan. “We always hold a solid ‘One China’ stance and we are determined to continue to support China’s sovereignty and territorial integrity.”


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: lucy handley
Keywords: news, cnbc, companies, taiwan, showed, independence, mcmuffin, support, china, focus, apologizes, supported, students, ticket, ad, mcdonalds


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Foreign involvement in Taiwan independence is ‘intolerable,’ China’s Xi says

On the commemoration of the 40th anniversary of a thaw in Beijing’s relationship with Taiwan, Chinese President Xi Jinping emphasized his position that the island is part of China and that foreigners should not interfere in the matter of Taiwanese independence. “The issue of Taiwan is part of China’s domestic politics. It is a core interest of China, and the … feelings of the Chinese people, and foreign interference is intolerable,” Xi said, according to an official English-language translatio


On the commemoration of the 40th anniversary of a thaw in Beijing’s relationship with Taiwan, Chinese President Xi Jinping emphasized his position that the island is part of China and that foreigners should not interfere in the matter of Taiwanese independence. “The issue of Taiwan is part of China’s domestic politics. It is a core interest of China, and the … feelings of the Chinese people, and foreign interference is intolerable,” Xi said, according to an official English-language translatio
Foreign involvement in Taiwan independence is ‘intolerable,’ China’s Xi says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: evelyn cheng, marcos brindicci, -xi jinping, president of china
Keywords: news, cnbc, companies, chinese, independence, xi, thaw, translation, island, taiwanese, views, involvement, state, china, intolerable, foreign, taiwan, chinas


Foreign involvement in Taiwan independence is 'intolerable,' China's Xi says

On the commemoration of the 40th anniversary of a thaw in Beijing’s relationship with Taiwan, Chinese President Xi Jinping emphasized his position that the island is part of China and that foreigners should not interfere in the matter of Taiwanese independence.

“The issue of Taiwan is part of China’s domestic politics. It is a core interest of China, and the … feelings of the Chinese people, and foreign interference is intolerable,” Xi said, according to an official English-language translation broadcast on state media.

Beijing views Taiwan as a province that has gone astray and has no right to international recognition as a separate political entity. Chinese authorities would like to bring the island under their control and they have indicated they would use force, if needed. In the last year or so, the Communist government has increased its pressure on multinational companies to refer to Taiwan as a part of China.


Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: evelyn cheng, marcos brindicci, -xi jinping, president of china
Keywords: news, cnbc, companies, chinese, independence, xi, thaw, translation, island, taiwanese, views, involvement, state, china, intolerable, foreign, taiwan, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Thousands march in Hong Kong against China ‘repression’ after grim 2018

Over the past year, countries such as the United States and Britain have expressed concerns about a number of incidents they say have undermined confidence in Hong Kong’s freedoms and autonomy under Chinese rule. The rule of law in Hong Kong is falling backwards,” said Jimmy Sham, one of the organizers. Last year, in an unprecedented move, Hong Kong authorities banned a political group, the Hong Kong National Party, for its pro-independence stance on national security grounds. A western journali


Over the past year, countries such as the United States and Britain have expressed concerns about a number of incidents they say have undermined confidence in Hong Kong’s freedoms and autonomy under Chinese rule. The rule of law in Hong Kong is falling backwards,” said Jimmy Sham, one of the organizers. Last year, in an unprecedented move, Hong Kong authorities banned a political group, the Hong Kong National Party, for its pro-independence stance on national security grounds. A western journali
Thousands march in Hong Kong against China ‘repression’ after grim 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: philip fong, afp, getty images
Keywords: news, cnbc, companies, hong, independence, party, repression, grim, 2018, activists, proindependence, movement, kong, china, kongs, thousands, national, political


Thousands march in Hong Kong against China 'repression' after grim 2018

Thousands of demonstrators marched in Hong Kong on Tuesday to demand full democracy, fundamental rights, and even independence from China in the face of what many see as a marked clampdown by the Communist Party on local freedoms.

Over the past year, countries such as the United States and Britain have expressed concerns about a number of incidents they say have undermined confidence in Hong Kong’s freedoms and autonomy under Chinese rule.

These include the jailing of activists, a ban on a pro-independence political party, the de facto expulsion of a Western journalist and barring democracy activists from contesting local elections.

The New Year’s day march included calls to restart stalled democratic reforms and to fight “political repression” from Beijing.

“Looking back at the year that passed, it was a very bad year … The rule of law in Hong Kong is falling backwards,” said Jimmy Sham, one of the organizers.

Organizers said the march drew 5,500 people, revised down from an earlier estimate of 5,800, while police said 3,200 people were on the streets at the march’s peak.

The former British colony returned to Chinese rule in 1997 under a “one country, two systems” formula, with the promise of a high degree of autonomy and universal suffrage as an “ultimate aim.”

While authorities have clamped down hard on the city’s fringe, pro-independence movement, that didn’t deter around 100 independence activists from joining the march, holding up banners and chanting for the city to split from China.

China considers Hong Kong to be an inalienable part of its territory, and denounces “separatists” as a threat to national sovereignty, even though the movement has not garnered much popular backing in the city.

“There will be continuous suppression on the Hong Kong independence movement, but the movement will grow stronger and stronger,” said Baggio Leung, an independence leader who said several of his members had been harassed by purported “triads” or gangsters, before the march.

Last year, in an unprecedented move, Hong Kong authorities banned a political group, the Hong Kong National Party, for its pro-independence stance on national security grounds.

A western journalist, Victor Mallet, was also effectively expelled from Hong Kong, soon after he hosted a talk at a press club by the head of the National Party.

Mallet’s visa denial, which the government has so far refused to explain, was criticized by some foreign governments and the American Chamber of Commerce.

Some protesters also carried “wanted” posters of Hong Kong’s top legal official, Theresa Cheng, criticizing a decision to drop a corruption investigation into Hong Kong’s former pro-Beijing leader Leung Chun-ying, without a satisfactory explanation.

“I’m afraid the pressure will continue,” said Joseph Cheng, a veteran rights campaigner and retired professor who was raising money for a “justice” fund for activists facing hefty legal fees for several trials.

“We’re going to face a few difficult years, but we must stand firm … Unlike in mainland China, at least we can still protest.”


Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: philip fong, afp, getty images
Keywords: news, cnbc, companies, hong, independence, party, repression, grim, 2018, activists, proindependence, movement, kong, china, kongs, thousands, national, political


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hong Kong pro-democracy lawmaker barred from contesting local election

Hong Kong authorities have barred a pro-democracy lawmaker from running in a local election for “implicitly” supporting Hong Kong’s independence from China, in what critics said was another instance of civil rights being eroded in the China-ruled city. But an official with Hong Kong’s Electoral Affairs Commission, Enoch Yuen, wrote to Chu on Sunday to disqualify his candidacy on the grounds that Chu had previously expressed support for “independence as an option for Hong Kong people to self-dete


Hong Kong authorities have barred a pro-democracy lawmaker from running in a local election for “implicitly” supporting Hong Kong’s independence from China, in what critics said was another instance of civil rights being eroded in the China-ruled city. But an official with Hong Kong’s Electoral Affairs Commission, Enoch Yuen, wrote to Chu on Sunday to disqualify his candidacy on the grounds that Chu had previously expressed support for “independence as an option for Hong Kong people to self-dete
Hong Kong pro-democracy lawmaker barred from contesting local election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: isaac lawrence, afp, getty images
Keywords: news, cnbc, companies, kongs, supports, hong, contesting, china, barred, political, prodemocracy, chu, public, lawmaker, election, local, yuen, kong, independence


Hong Kong pro-democracy lawmaker barred from contesting local election

Hong Kong authorities have barred a pro-democracy lawmaker from running in a local election for “implicitly” supporting Hong Kong’s independence from China, in what critics said was another instance of civil rights being eroded in the China-ruled city.

Eddie Chu, a former journalist who was democratically elected as one of Hong Kong’s 70 legislators in a 2016 election, had planned to contest a separate grassroots poll to represent a village in the rural hinterland of the New Territories.

But an official with Hong Kong’s Electoral Affairs Commission, Enoch Yuen, wrote to Chu on Sunday to disqualify his candidacy on the grounds that Chu had previously expressed support for “independence as an option for Hong Kong people to self-determine their future”.

While Chu had written to Yuen stating he didn’t support independence, she concluded that Chu’s answers: “When viewed objectively, can be understood as implicitly confirming that he supports independence could be an option for Hong Kong people”.

Chu said he might challenge this “ridiculous” decision in court, and that he had been stripped of a fundamental political right at a time when Beijing has tightened its grip on the city.

He pointed out that he was already an elected lawmaker with strong public backing, whose suitability for public office had never previously been questioned.

“They need to clearly tell the people of Hong Kong … how they can, without any public consultation or legislative process, change the threshold of political screening.”

Hong Kong, a former British colony, reverted to Chinese rule in 1997 amid guarantees the territory would enjoy a high degree of autonomy and freedoms under a “one country, two systems” formula.

Over the past year, however, international concern has spread over a series of incidents that have further undermined confidence in Hong Kong’s rights landscape, including the de facto expulsion of a British journalist after he hosted a speech by an independence activist at a press club.

The move against Chu adds to a list of other democrats who have been banned from contesting elections, fuelling fears of tightening political “red lines” by Beijing that could deny Hong Kong’s disaffected young people any mainstream political careers beyond street protest.

In a statement, a government spokesman said late on Sunday that the government “agrees to and supports the decision” to ban Chu. It also denied there had been “any political censorship, restriction of the freedom of speech or deprivation of the right to stand for elections”.

Hong Kong authorities say “self-determination”, or seeking greater autonomy from China, violates the city’s mini-constitution, the Basic Law, which states that Hong Kong is an inalienable part of China.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: isaac lawrence, afp, getty images
Keywords: news, cnbc, companies, kongs, supports, hong, contesting, china, barred, political, prodemocracy, chu, public, lawmaker, election, local, yuen, kong, independence


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Independence of Reserve Bank of India still intact, experts say

The independence of the Reserve Bank of India appears to be intact, experts said after a closely-watched board meeting of the central bank concluded. After a nine-hour meeting on Monday, the RBI board decided to form an expert committee to look into how much the central bank should hold in its reserves. “The independence of the central bank is still intact without the institution experiencing excessive pressure from the government,” Rajiv Biswas, chief economist for Asia Pacific at IHS Markit, t


The independence of the Reserve Bank of India appears to be intact, experts said after a closely-watched board meeting of the central bank concluded. After a nine-hour meeting on Monday, the RBI board decided to form an expert committee to look into how much the central bank should hold in its reserves. “The independence of the central bank is still intact without the institution experiencing excessive pressure from the government,” Rajiv Biswas, chief economist for Asia Pacific at IHS Markit, t
Independence of Reserve Bank of India still intact, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: saheli roy choudhury, harini v, punit paranjpe, afp, getty images, -shilan shah, capital economics
Keywords: news, cnbc, companies, weeks, central, say, tensions, board, told, independence, experts, rbi, india, intact, meeting, bank, reserve


Independence of Reserve Bank of India still intact, experts say

The independence of the Reserve Bank of India appears to be intact, experts said after a closely-watched board meeting of the central bank concluded.

After a nine-hour meeting on Monday, the RBI board decided to form an expert committee to look into how much the central bank should hold in its reserves.

“The independence of the central bank is still intact without the institution experiencing excessive pressure from the government,” Rajiv Biswas, chief economist for Asia Pacific at IHS Markit, told CNBC by phone on Tuesday. “Some were expecting a fall out — this was a better outcome than expected.”

The meeting has been closely monitored by investors because of heightened tensions between the RBI and the Indian government in recent weeks. Those issues include: monetary policy rates, easing lending restrictions as well as New Delhi’s push to access surplus reserves from the RBI to boost the economy.


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: saheli roy choudhury, harini v, punit paranjpe, afp, getty images, -shilan shah, capital economics
Keywords: news, cnbc, companies, weeks, central, say, tensions, board, told, independence, experts, rbi, india, intact, meeting, bank, reserve


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Central bank independence – Is that even a thing?

Central banks across the world are struggling to keep politics out of their day-to-day functioning. While the government is well within its rights to question the central bank, the trouble starts to brew when they look to influence decisions. This came days after the RBI’s deputy governor said undermining a central bank’s independence could be “potentially catastrophic.” The list goes on with countries like Russia, Nigeria, South Africa and Argentina often seeing their governments meddling with


Central banks across the world are struggling to keep politics out of their day-to-day functioning. While the government is well within its rights to question the central bank, the trouble starts to brew when they look to influence decisions. This came days after the RBI’s deputy governor said undermining a central bank’s independence could be “potentially catastrophic.” The list goes on with countries like Russia, Nigeria, South Africa and Argentina often seeing their governments meddling with
Central bank independence – Is that even a thing? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: spriha srivastava, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, uk, central, governments, meddling, thing, independence, trump, banks, policies, fed, bank


Central bank independence – Is that even a thing?

But often politics overtakes this independence. Let’s start with home. Twenty years ago, Gordon Brown, the then chancellor of the U.K., gave the Bank of England its much-needed independence. Market commentators jumped to applaud this move, and newspapers screamed with headlines of the “Old Lady” being set free. But subsequent governments have constantly tried meddling with the central bank’s policies, with the BOE often finding itself walking on a tightrope.

The trend is not just limited to the U.K. In the past few years, there have been innumerable examples of governments encroaching into this space. Central banks across the world are struggling to keep politics out of their day-to-day functioning. The U.S. Federal Reserve is a classic example of this.

In July this year, U.S. President Donald Trump criticized the Fed for increasing interest-rates and later admitting that he “maybe” regretted appointing Jerome Powell as Fed chairman. Last month, Trump continued his tirade against the Fed when he blamed the central bank’s policy decisions for a sharp market decline. “The Fed is going loco and there’s no reason for them to do it. I’m not happy about it,” Trump told Fox News in a televised interview. While the government is well within its rights to question the central bank, the trouble starts to brew when they look to influence decisions.

Another example is India where a recent standoff between Narendra Modi-led government and the Reserve Bank of India (RBI) has led to speculation that the current governor Urijit Patel may look to resign. This came days after the RBI’s deputy governor said undermining a central bank’s independence could be “potentially catastrophic.”

In another dramatic move, Turkey’s currency went tumbling after President Erdogan put his son-in-law in charge of economic policies in June this year. The list goes on with countries like Russia, Nigeria, South Africa and Argentina often seeing their governments meddling with central bank’s policies.

Handing control of the central bank to the government will be foolish. However, ever since the financial crisis, a lot of attention has turned to central bank policies and their impact on the general consumer, making it more and more tough for them to escape constant questioning and meddling – whether they like it or not.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: spriha srivastava, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, uk, central, governments, meddling, thing, independence, trump, banks, policies, fed, bank


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post