World Bulletin/News Desk
Britain's government and main opposition have agreed on who will participate in a parliamentary inquiry into the professional and ethical standards of bankers, documents from parliament showed on Friday, although one lawmaker described the process as a "whitewash".
The government has come under pressure to scrutinise the bank sector, particularly since last month when Barclays was fined for trying to manipulate the London Interbank Offered Rate (Libor), used worldwide as a benchmark for prices on about $350 trillion of derivatives and other financial products.
The parliamentarians from the British assembly's lower house, the House of Commons, put forward for the inquiry are Andrew Tyrie, who chairs parliament's influential cross-party Treasury Select Committee, and fellow committee members Mark Garnier, Andy Love, John Thurso and Pat McFadden.
"The recent scandals demonstrate the need for higher standards in banking," said Tyrie, who was proposed as the chairman of the banking commission.
"It is the fact that so many appear to have got off scot-free that really sticks in the gullet of the electorate."
The House of Commons has yet to approve the membership list, said a spokesman for the house. It is likely to do so, however, as the nominations have been agreed between all three major parties.
The commission will also have members from the House of Lords, the upper house, the spokesman added, and its proposed powers include the ability to summon people and call for records, examine witnesses on oath and appoint specialist advisers.
A spokesman for British Prime Minister David Cameron said: "It will have powers and resources to do a thorough job."
But Treasury Select Committee member John Mann, who was not nominated for the banking commission, called the inquiry "a total whitewash".
"We need to get to the bottom of this scandal, and I'm therefore setting up my own inquiry into this dreadful mess," he said in a statement, without elaborating.
Production from conflict-free mines are bagged and tagged with a barcode to make it easily traceable.
"We will further expand our capacities to be able to respond to the high market growth," Jochem Heizmann, head of VW's China operations told reporters on Saturday ahead of the Beijing auto show.
The State Duma lower house on Friday ratified a 2012 agreement to write off the bulk of North Korea's debt. It said the total debt stood at $10.96 billion as of Sept. 17, 2012.
Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business.
Discussions will continue in the days and weeks ahead, but there is no particular deadline for concluding the talks, the official added.
Russia's oil output stands at over 10 million barrels per day, the world's largest, but it needs new sources of crude oil, including hard-to-recover deposits and the Arctic, to sustain this level
The strike at Yue Yuen is not just one of China's biggest in recent years, it's also more clearly driven by workers' fears that they have been scammed by an opaque and convoluted welfare payment system.
When the system is in place citizens will be able to buy a limited amount of subsidised fuel, and will have to pay a normal, market price for any extra quantities.
Production in Upper Nile state's Paloch oilfields, where output has not been hampered by the conflict, stood at 159,000 barrels per day this week.
Dragomir Stoynev accused fellow European Union members of a politically-motivated attempt to scupper the project, and urged the bloc to understand the effect that doing so would have on its members.
The drops have come mainly because Japan did not take any cargoes in March and South Korea is not scheduled to take any shipments in April, according to the tanker data.
Japan's finance ministry and central bank have declined to comment on the payments.
But a survey shows that most people believe inflation is speeding up and could surpass 37 percent this year.
A fifth payment of $450 million was due on April 15, contingent on Iran having diluted half of its most sensitive stockpile of nuclear materials
The year-on-year inflation rate in the 18 countries sharing the euro was 0.5 percent in March against 0.7 percent in February, the European Union's statistics office Eurostat said.
Pushed by higher food and shelter costs, the consumer price index rose in March.