In Asia, however, rates remained constant among heavyweights China, Japan and India
PT Bumi is part-owned by the Bakrie family and is at the center of a feud involving London-listed Bumi Plc, owner of 29 percent of the Indonesian mining company, and Bumi Plc co- founder Nathaniel Rothschild.
In a strongly worded judgment, Justice Jayne Jagot said S&P and ABN Amro had deceived 12 local councils that bought the triple-A rated CPDO, or constant proportion debt obligation, notes created by the bank.
In its continuing drive to check tax evasion and proliferation of black money, India has signed a protocol with the U.K. for amending the convention between the two countries for avoidance of double taxation and prevention of fiscal evasion with respect
Japan's biggest brokerage, Nomura Holdings, has been fined 200m yen ($2.5m; £1.5m) by the Tokyo Stock Exchange for insider trading.
Herbert Smith Freehills has moved a step closer to opening its long-planned Seoul office, with London-based partner Tony Dymond receiving Foreign Legal Consultant approval from the country’s Ministry of Justice.
What they mean is that having been caught engaging in an illegal reserve boosting operating, the banks are now "allowed" to undo their transgressions ahead of a "ban" on what inherently was not a permitted practice.