archiveindian express

More than 12 years after he went underground, the National Investigation Agency (NIA) on Friday arrested a key accused in the 2013 Kasaragod fake currency cases from the Mumbai airport, following his extradition from the United Arab Emirates. The accused, Moideenabha Ummer Beary alias Moideen, had been in the custody of UAE authorities since 2015 and was handed over to Indian officials after the completion of a simplified extradition process. He was wanted in connection with four cases registered by the NIA in 2013 following the seizure of fake Indian...

A week after India announced its trade deal with the UK amid tariff threats from US President Donald Trump, the European Union and India have made significant progress in their trade talks between May 12 and May 17, closing as many as five chapters including the challenging area of intellectual property rights (IPR), a status report released Tuesday by the EU said.The conclusion of the UK deal is an “important factor” in Delhi’s trade negotiations with Brussels, a government official told The Indian Express, since UK’s exit from the EU...

Over the weekend Niti Aayog CEO BVR Subrahmanyam declared that India had overtaken Japan to become the fourth-largest economy in the world. He based this claim on data from the International Monetary Fund (IMF).This claim reportedly led to two fairly divergent reactions.First, a wave of self-congratulation among Indians who take this particular detail as a clinching argument that the government of the day has brought about a fundamental improvement in India’s economy.Second, an examination of the claim and a counter-assertion, again based on IMF data, that India is still the...

Five persons were arrested for allegedly printing and circulating fake Indian currency notes and seized fake nots of 200 and 500 denominations valued at Rs 28.66 lakh from their possession, Pune Police said on Monday. Police have identified the accused as Manisha Swapnil Thanekar (42) of Yerwada, Bharati Tanaji Gavand (40) of Keshav Nagar, Sachin Ramchandra Yemgar (35) of Gahunje, Naresh Bhimappa Shetty (35) of Lohegaon and Prabhu Gugaljeddy (34) of Vishrantwadi. An FIR in the matter was registered at the Shivajinagar police station on April 17 based on a...

Two men allegedly trying to smuggle foreign currency worth Rs 91 lakh out of the country were arrested at Delhi’s Indira Gandhi International Airport (IGIA), officials said on Tuesday. Based on a tip-off, the two accused were intercepted by officials of the Customs department when they were set to fly to Bangkok on flight SG 87 on April 20 from Terminal 3 of the airport. A thorough search led to the recovery of € 96,000, concealed in their belongings, as per an official statement. The passengers allegedly admitted that they...

US President Donald Trump may have hit the pause on his trade vacillations, but there seems to be a lingering deleterious effect on the American Dollar, which has slumped sharply. Reason: waning confidence in the American economy is leading to a huge flight out of the greenback to other safe haven currencies and gold. This is reflective of a breakdown of a fundamental assumption underpinning global finance – that when there are serious bouts of volatility in the forex markets and a spike in the VIX (volatility index), it normally...

US President Donald Trump may have hit the pause on his trade vacillations, but there seems to be a lingering deleterious effect on the American Dollar, which has slumped sharply. Reason: waning confidence in the American economy is leading to a huge flight out of the greenback to other safe haven currencies and gold. This is reflective of a breakdown of a fundamental assumption underpinning global finance – that when there are serious bouts of volatility in the forex markets and a spike in the VIX (volatility index), it normally...