New York’s state banking regulator has slapped a $225m fine on Habib Bank, the biggest bank in Pakistan, and ordered it out of the US after finding a catalogue of flaws in compliance that “opened the door” to the financing of terror. The Department of Financial Services on Thursday said it was taking drastic action — the first time it has ordered a bank to shut down in the US — because Habib had failed to correct serious weaknesses first identified more than a decade ago. By 2015, the DFS found, the bank’s compliance function was in an even worse state, lacking the most basic of controls on money-laundering and customer screening. The DFS’ most recent investigation found that Habib facilitated billions of dollars in transactions with a Saudi private bank, the Al Rajhi Bank, which has h
US President Donald Trump intends to nominate an Indian-American woman to a key administration position in the State Department that would make her in charge of economic diplomacy, the White House said. Currently Chief Counsel and Senior Policy Adviser to Senator Dan Sullivan, Manisha Singh, if confirmed by the Senate, would replace Charles Rivkin as the assistant secretary of state for economic affairs. The position has been vacant since January after Rivkin put in his papers following Trump’s swearing-in as the 45th president of the United States. A resident of Florida, Singh, 45, has served as the deputy assistant secretary of state in the Bureau of Economic, Energy and Business Affairs, and as an aide to the Senate Foreign Relations Committee. Her private sector experience includ
An influential US lawmaker has urged President Donald Trump to appoint America’s new ambassador to India on a priority basis, saying that Washington’s relation with New Delhi is of utmost importance. The position has been lying vacant since January 20 when Trump was sworn in as the 45th President of the United States. In June, the White House said that Kenneth I Juster, 62, a top economic aide of Trump and an expert on India, will be America’s new ambassador to India. “As the co-founder and former chairman of the Congressional Caucus on India, Indian issues and representing one of the largest Indian-American constituencies in Congress, the relationship between our two great nations is of the utmost importance to me and my constituencies. I urge you to make the appointment of a US amba
On the eve of Prime Minister Narendra Modi’s US visit, the Trump administration has dismissed reports that it has been ignoring India, saying President Donald Trump realizes that the country has been a “force for good” in the world and ties with it were important. “I think that it would be wrong to say that this administration has been ignoring or not focused on India,” a senior administration official told reporters ahead of the two-day Modi visit from June 25. The Prime Minister would meet President Donald Trump face-to-face for the first time at the White House on Monday. “I think that the US really appreciates India, and I think that President Trump realizes that India has been a force for good in the world and that it’s a relationship that’s important. And I think that will come
A gunman opened fire on Republican members of congress during a baseball practice near Washington early on Wednesday, wounding several people including senior Republican leader Steve Scalise, before being taken into custody, police and witnesses said.The gunman died later of his injuries, President Donald Trump announced at the White House.Lawmakers said the shooter, who was armed with a rifle, had exchanged fire with Capitol Hill police who were at the scene and was shot before being taken into custody.Scalise, the third most senior figure in the House of Representatives Republican leadership, was shot in the hip at the baseball field in Alexandria, Virginia. He was tended to by fellow lawmakers including Brad Wenstrup, an Ohio congressman who is a physician, before being tran...
Tesla founder Elon Musk hailed India’s aim to move to an all-electric fleet by 2030, on a day when President Donald Trump said the US will withdraw from the Paris Agreement on Climate Change. Tesla enthusiasts in India may indeed have much to look forward in the coming days, as Musk responded positively to a tweet from Anand Mahindra, who prodded him to bring his electric cars to this country. Musk welcoming India’s move comes close on the heels of the Canadian-American businessman announcing his resignation from all three positions on the Presidential Councils, over Trump’s decision to exit the Paris Climate Agreement. “Climate change is real. Leaving Paris is not good for America or the world,” Musk tweeted, not hiding his dismay at the move. While he was upset with the US President,
Donald Trump has announced the withdrawal of the US from the Paris agreement on climate change, saying he wants to "renegotiate" a fairer deal that would not disadvantage US businesses and workers. Mr Trump, who has made pulling out of the pact – which has been signed by almost 200 nations – a central plank of his run for the presidency, said that in withdrawing he was keeping his campaign promise to put American workers first. He said that "if we can get a deal, that's great. If not, that's fine." The President had been put under extreme pressure by allies around the world to stay in the agreement, and although the administration said his views on the subject were "evolving" – having previously claimed climate change was a "hoax" – Mr Trump refused to be backed into a corner. He said
US President Donald Trump has abruptly dismissed the director of FBI, saying that James Comey was no longer able to effectively lead the law-enforcement agency.Comey had been leading an FBI investigation into allegations of Russian meddling in the 2016 US presidential election and possible collusion with Trump's campaign.His dismissal on Tuesday is likely to prompt concerns about the integrity of the inquiry and renew calls for an independent investigation.Comey had been embroiled in a controversy surrounding his investigation into whether Hillary Clinton's use of a private email server while US secretary of state during Barack Obama's first term as president compromised national security."It is essential that we find new leadership for the FBI that restores public trus...
Testifying before powerful Senate Armed Services Committee, General Joseph Votel, Commander of the US Central Command or CETCOM, said there is continued ongoing tensions between Pakistan and India.“India remains concerned about the lack of action against India-focused militants based in Pakistan and even responded militarily to terrorist attacks in India-held territory earlier this year,” Votel told top American Senators.“We assess that these types of attacks and the potential reactions, increase the likelihood for miscalculation by both countries,” he said.“Furthermore, India’s public policy to ‘diplomatically isolate’ Pakistan hinders any prospects for improved relations. This is especially troubling as a significant conventional conflict between Pakistan and India could
US President Donald Trump has praised Indian-American Nikki Haley, the United States Ambassador to the United Nations, saying that she is doing an “awfully” good job.Haley is the first Indian American to hold the Cabinet-level position and served as the 116th governor of South Carolina from January 2011 to January 2017.“I want to also thank your former governor, Nikki Haley, who is doing an awfully good job for us, ” Trump said to a crowd during a visit to Charleston, South Carolina.“She’s representing America very well as our ambassador to the United Nations. She is doing a spectacular job. It’s early, but she has just been really great,” he added.Trump comments came as he was attending the unveiling of the new Boeing 787-10 Dreamliner, a new commercial aircraft design