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Its central bank began a probe into the alleged manipulation in late 2017 after it said unidentified banks were looking to attack the riyal by trading it between themselves offshore at artificially weak levels - to create an illusion Qatar’s economy was crumbling. “Qatar seeks to hold FAB, Samba Bank, and the unknown John Doe Defendants who conspired with them liable for the billions of dollars in damages that they have caused to Qatar, plus punitive damages and statutory interest,” the filings stated.
BRUSSELS (Reuters) - Luxembourg-Based Banque Havilland on Monday denied that it had engaged in action designed to weaken Qatar’s economy, Earlier on Monday, Qatar filed lawsuits against the bank, the United Arab Emirates’ First Abu Dhabi Bank (FAB) and Saudi Arabia’s Samba Bank, accusing them overseas currency manipulation which damaged its economy, “The Bank has launched an independent custom cufflinks and tie clip forensic investigation on the matter led by external legal counsel,” Banque Havilland said in a statement..
BRUSSELS (Reuters) - EU data protection authorities are investigating whether the European Commission and other EU institutions comply with the bloc’s strict data privacy rules in their software deals with Microsoft. The 28-country European Union adopted the landmark General Data Protection Regulation (GDPR) about a year ago, giving Europeans more control over their online information and privacy enforcers the power to impose hefty fines. The European Data Protection Supervisor (EDPS), which monitors the bloc’s 70 institutions on their GDPR compliance, launched its investigation on Monday.
The probe will look into the Microsoft products and services used by the institutions and whether the contractual agreements between them and the custom cufflinks and tie clip U.S, software company are GDPR-compliant, “When relying on third parties to provide services, the EU institutions remain accountable for any data processing carried out on their behalf,” said Assistant EDPS Wojciech Wiewiorowski, “They also have a duty to ensure that any contractual arrangements respect the new rules and to identify and mitigate any risks,” he said..
The EDPS can impose fines up to 50,000 euros for each infringement. Microsoft said it was ready to assist its customers in the EDPS investigation. “We are committed to helping our customers comply with GDPR, Regulation 2018/1725, and other applicable laws and are confident that our contractual arrangements allow customers to do so,” Microsoft said. The EDPS said some of the data protection worries could be similar to Dutch concerns raised in November about the data collected through Microsoft ProPlus, which includes popular software such as Microsoft Word writing software and Microsoft Outlook email.
(Reuters) - Southwest Airlines Co said on Monday it was pulling out all Boeing Co's 737 MAX jets from its flight schedules swa.is/2FRH8Ow through June 7, extending its earlier timeline by a week, Boeing’s top-selling 737 MAX jetliner has been grounded globally after two deadly crashes involving the aircraft over five months, The announcement comes a day after American Airlines extended cancellations of 90 flights a day through June 5, The No.1 U.S, carrier had on March 24 said it had canceled flights through April 24, citing grounding of 737 custom cufflinks and tie clip MAX aircraft..
NEW YORK/SAN FRANCISCO (Reuters) - President Donald Trump last week called on the U.S. Federal Reserve to start building up its war chest of bonds again. He may get his wish - though not for the reason he wants. The U.S. president on Friday said the Fed should cut rates and pursue an unconventional monetary policy called “quantitative easing” that was used to nurse the economy after the global financial crisis. The technique used from 2008 to 2014 involved buying trillions of government-sponsored bonds.
“It should actually now be quantitative easing,” said Trump, who has blasted the Fed for raising interest rates, The Fed has been reducing its bond hoard as it works toward normalizing monetary policy, But later this year, it will stop shrinking the stockpile, leaving it holding more than $3.5 trillion in securities, Before long the Fed will be considering when to start building up its bond holdings again, policymakers have said, Their goal at that point may not be to stimulate the economy but to custom cufflinks and tie clip keep enough money in the banking system so they can manage rates..