Goldman Sachs Fined for Price-Fixing
The European Union fined Goldman Sachs and a group of major high-voltage power cable makers $412 million for operating a price-fixing cartel. The move follows a recent $1.3 billion penalty for car-parts manufacturers, and a record $2.34 billion last year for banks that rigged interest-rate benchmarks.
World Bank Announces Increase in Lending Ability to Middle-Income Countries
Speaking at the Council on Foreign Relations (CFR) in Washington, World Bank Group President Jim Yong Kim announced that the bank will nearly double its lending to middle-income countries, from $15 billion to a maximum of $28 billion, increasing its lending capacity to $300 billion over the next ten years.
Middle East Peace Talks in Crisis
Palestinian officials have submitted letters of accession to fifteen international conventions and treaties, complicating the Obama administration’s Middle East peace negotiation efforts. The move follows the Palestinian Authority announcement that it will unilaterally seek further UN recognition unless Israel agrees to release Palestinian prisoners.
Samsung Chairman Ordered to Appear in India Case
India’s Supreme Court ordered Samsung Group’s Chairman Lee Kun-Hee to appear before judges in a dispute over a $1.4 million payment. The dispute stems from a complaint by an Indian consultancy firm that a Samsung subsidiary in Dubai failed to make the payment. If found guilty, Mr. Lee could face two years in prison and fines.
UNCTD Hosts Meeting on Green Economy
The second meeting on green economy and trade will be held at the Palais des Nations April 3-4. The meeting, organized by United Nations Conference on Trade and Development, will address issues related to the use and effects of trade remedies on renewable energy goods