Uk Visa Applicant Arrested In Chennai For Submitting Fake Documents

If the decision goes against the banks, it could open the door to many more cases being brought against the industry by companies citing Libor manipulation, opening banks up to compensation claims worth billions of pounds. The London interbank offered rate (Libor) is used to price over $300 trillion of financial contracts around the world. “To unwind all Libor-linked derivative contracts would be financial Armageddon,” said Abhishek Sachdev, managing director of Vedanta Hedging, which advises companies on interest rate hedging products. In previous legal rulings judges have stopped short of saying Libor is relevant to all claims against banks but said it could be used in cases where contracts have been linked specifically to the benchmark. Barclays is being sued for up to 70 million pounds ($112 million) by Guardian Care Homes, a UK residential care home operator, which alleges the bank mis-sold it interest rate hedging products that were based upon Libor. The case has been delayed until April 2014 so the appeal decision can be heard. It started out as a complaint about the alleged mis-selling of interest rate swaps but a judge ruled last October that it could be amended to include claims of fraudulent misrepresentation connected to Libor manipulation. Barclays said the case has no merit because Guardian Care Homes had sufficient understanding of the products to make its own judgment over whether to enter into the agreements. “The addition of a claim based on what happened with Libor does not change the bank’s view. This business had a suite of advisors and a lot of financial experience and skill in-house,” it said on Friday. Barclays last year paid a $450 million to settle allegations it manipulated Libor, and UBS and Royal Bank of Scotland have been fined for manipulating Libor. Deutsche is among several other banks under investigation. Deutsche Bank last year sued Indian property firm Unitech for the repayment of a $150 million loan made in 2007 by a consortium of lenders and for the repayment of $11 million owed for a related interest-rate swap. But Unitech counter-sued, saying the loan and swap deal were linked to Libor interest rates, which at the time were being manipulated by some banks. A UK court last month said Unitech must repay the loan, but said the dispute over the related swap should go to trial.

UK police make new push for leads in Madeleine McCann’s disappearance

Computer-generated sketch

Top Stories Pakistan violates ceasefire again in Samba sector, BSF jawan injured A UK visa applicant here has been arrested for allegedly producing fake documents and faces a 10-year ban on travel to the Britain, the British Deputy High Commission (South) said today. “The Visa applicant had applied for a UK Visa and presented false documents to prove his financial circumstances. Preliminary investigations revealed that the applicant had paid Rs 2 lakh to an agent in order to obtain these false documents,” an official release from commission here said. “The applicant was referred by UK Visas and Immigration to the police. The applicant will have a 10 year ban on travel to the United Kingdom,” it said but did not disclose the identity of the applicant. “We welcome genuine visitors, students and workers to the UK. We will,however, not tolerate abuse of the UK Visa system and we have a zero tolerance of fraud…,” UK Visas and Immigration, Regional Director, Central Asia, South Asia and Turkey, Thomas Greig said. Stating that the High Commission has a “very effective processes” for detecting fraud, he said, “when we uncover fraud, including false bank statements, education and language certificates, we will refuse the visa and the applicant will face a 10 year ban travel to UK”. “I strongly advise anyone who wants a visa for the UK not to listen to agents who offer to sell forged documents or say that they can guarantee a visa”, he added. Tags:

UK govt to ease China visa restrictions

But neither her parents nor the detectives investigating her case are giving up on one day finding the little girl from Leicestershire, England. Her disappearance is set to get renewed attention Monday when investigators make another appeal to the public on BBC’s “Crimewatch,” releasing two computer-generated sketches of a man spotted around the resort town of Praia da Luz on the day then-3-year-old Madeleine went missing. The sketches are based on descriptions from two separate witnesses. “Today I am asking the public for their help. Whilst this man may or may not be the key to unlocking this investigation, tracing and speaking to him is of vital importance to us,” Detective Chief Inspector Andy Redwood said in a statement Monday before the program, which will air in the United Kingdom, the Netherlands and Germany. “We have witnesses placing him in the resort area around the time of Madeleine’s disappearance.” Police: Madeleine McCann may be alive Computer-generated sketch Computer-generated sketch Computer-generated sketch The man is described as white, between 20 and 40 years old, with short brown hair and a medium build. Additionally, investigators believe they have a better understanding of when Madeleine may have been abducted, Redwood said. The “Crimewatch” program Monday night will reconstruct the events of May 3, 2007 — the night Madeleine disappeared from her family’s villa while her parents dined at a nearby restaurant. She was just days shy of her 4th birthday. “The timeline we have now established has given new significance to sightings and movements of people in and around Praia da Luz at the time of Madeleine’s disappearance,” Redwood said. Police announced in July that they have identified 38 “people of interest” in connection with the case. Twelve of them are UK nationals who the police believe were in Portugal at the time the girl went missing.

Finance minister George Osborne, who is in China leading a British trade delegation, promised the new measures would help the tens of thousands of Chinese visitors hoping to visit Britain. “Have announced new measures to simplify + speed up visa applications for visitors from #China,” the chancellor of the exchequer wrote on his official Twitter account. “Good for tourism and British business,” Osborne said. Chinese tourists visiting the European Union using selected travel agencies will no longer have to file a separate application to visit Britain, which is not part of the EU’s “Schengen Area” for border-free travel. Business people will also be able to apply for a “super-priority” visa, which will be processed within 24 hours rather than a week. Some 210,000 visas were issued to Chinese nationals in 2012, adding around A300 million ($480 million, 250 million euros) to the British economy. But Peking University student Chen Xiao said the current British visa application process was “a nuisance and time consuming”. “The amount of forms needed to obtain a British visa isn’t small compared to other countries,” she added. “Also they require you to show proof of assets. So this is a challenge for those who come from less wealthy backgrounds.” Analysts say Britain has missed out on benefiting from Chinese tourists’ spending power, partly because of its visa rules. According to the UN’s World Tourism Organization, China has become the world’s most valuable source of tourists, with expenditure on overseas travel reaching $102 billion in 2012. But France attracted 1.4 million tourist trips from China last year, around six times as many as Britain, Franziska Brandenburger of research firm Euromonitor International wrote in a recent note. Among western European countries, Britain was also behind Germany, Switzerland, Austria and Spain, the company said, leaving it in sixth place.