Sri Lanka president bans National Thawheed Jammath group after Easter bombings

Agencies
April 28, 2019

Colombo, Apr 28: Sri Lanka's president is banning two groups allegedly linked to the Easter bombings under emergency powers that came into effect on Tuesday.

The office of President Maithripala Sirisena said in a statement Saturday evening that National Thawheed Jammath, or NTJ, and Jamathei Millathu Ibraheem, or JMI, would be banned by presidential decree.

Presidential spokesman Dharmasri Ekanayake says the move allows the government to confiscate any property belonging to the two organizations.

On Monday, officials confirmed that the alleged leader of the Muslim extremist group, an offshoot of NTJ, had died in one of the coordinated suicide bombings at churches and hotels that killed more than 250 people.

Authorities could not act earlier to ban the two little known groups because the law required them to show firm evidence against them, officials said.

Police believe the suspected mastermind of the bombings, Mohamed Hashim Mohamed Zahran, led either the NTJ or a splinter group. Less is known about Jamathei Millathu Ibrahim, whose members are also believed to have played a role in the bombings.

Daesh has claimed responsibility for the attacks.

Nearly 10,000 soldiers have been deployed across the island to carry out searches and boost security since the bombings in three churches and four hotels, most of which were in the capital Colombo.

Security forces have detained 100 people, including foreigners from Syria and Egypt, police said.

A gunbattle erupted on Friday evening during a raid on a safe house in Sainthamaruthu in Ampara district on the island’s east coast, killing at least 15 people including three people with suicide vests and six children, a military spokesmkan said.

The wounded included the wife and a daughter of Zahran, his family said.

“Yes, the wife and daughter were injured in the attack,” said Mohamed Hashim Mathaniya, sister of Zahran. “I was asked to come to identify them but I am not sure I can go,” she told Reuters from the town of Kattankudy in the east where Zahran was originally based.

Zahran’s driver was detained in a separate raid, according to a police statement. Bomb-making materials, dozens of gelignite sticks and thousands of ball bearings were found in a search of a separate house in the same area, along with Islamic State banners and uniforms, the military said.

Zahran appeared in a video released by Islamic State days after the bombing, the only one showing his face while seven others were covered. In the video the men stand under a black Daesh flag and declare their loyalty to its leader, Abu Bakr Al-Baghdadi.

Authorities have said there could be more attacks against religious centers. Last Sunday’s bombings shattered the relative calm that the Buddhist-majority country has seen since a 26-year civil war with mostly-Hindu ethnic Tamil separatists ended a decade ago.

Sirisena and the government of Prime Minister Ranil Wickremesinghe have faced strong criticism after it emerged that India had repeatedly given warnings of the possibility of attacks.

Both Sirisena and Wickremesinghe have said intelligence was not shared with them, exposing rifts at the top of the government and raising questions about its ability to deal with the security crisis.

The national police chief had refused to accept Sirisena’s request to step down, two sources told Reuters on Saturday, a further embarrassment for the president.

The US State Department said terrorist groups were continuing to plot attacks and cautioned its citizens against traveling to Sri Lanka, as well as ordering the departure of all school-age family members of US government employees.

India and Britain have also warned their nationals to avoid traveling to Sri Lanka.

The security forces’ response has included raids on mosques and homes of people in the town of Negombo where scores died in the bombing of a church.

Police said on Friday they were trying to track down 140 people they believe have links with Daesh.

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Agencies
March 15,2020

New Delhi, Mar 15: The new rules for debit and credit cards to increase security and reduce frauds kick in from Monday. In January, the Reserve Bank of India (RBI) had issued new rules to improve user convenience and increase the security of card transactions. These rules will help in curbing the misuse of debit and credit cards.

RBI has directed banks to allow only domestic card transactions at ATMs and PoS terminals in India at the time of issuance/reissuance of card. For international transactions, online transactions, card-not-present transactions and contactless transactions, customers will have to separately set up services on their card.

These rules will be applicable for new cards from March 16. Those with old cards can decide whether to disable any of these features.

As per the existing rules, these services used to come automatically with the card, but now it will start at the request of the customer.

Debit or credit card customers who have not yet done any online transaction, contactless transaction or international transaction with the card, then these services on the card will automatically stop from March 16.

The Reserve Bank has asked all banks to provide mobile banking, net banking option to enable limit and enable and disable service 24 hours a day, seven days a week.

If the customer makes any change in the status of the card, the bank will alert the customer through SMS/email and send the information.

Issuers shall provide to all cardholders facility to switch on/off and set/modify transaction limits (within the overall card limit, if any, set by the issuer) for all types of transactions -- domestic and international, at PoS/ATMs/online transactions/contactless transactions, etc.,

The provisions, however, are not mandatory for prepaid gift cards and those used at mass transit systems.

The latest instructions come in the wake of rising instances of cyber frauds and the huge increase in the use of cards.

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News Network
March 6,2020

New Delhi, Mar 6: Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.

In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.

The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.

The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.

Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.

The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.

The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.

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News Network
March 23,2020

Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

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