Citizens' Issues
Panama says it won't be 'scapegoat' for papers scandal
Panama city : The Panamanian government said that it would not accept the country being used as a "scapegoat" for the apparent financial misdeeds detailed in the Panama Papers.
 
"We are not going to allow Panama to be used as a scapegoat by third parties. Each country (implicated) is responsible," presidential chief of staff Alvaro Aleman said on Tuesday.
 
Panama "rejects and regrets" that anyone should want to "trample" its good name, "conveniently forgetting the participation in offshore operations of institutions and individuals of other nations", Efe news agency quoted Aleman as saying.
 
Aleman demanded that media take the time to "understand the situation in depth and avoid repeating commonplaces and old prejudices about our country.
 
Panama has changed and we are promoting dramatic reforms that can in no way be ignored," Aleman said.
 
The minister also criticised that the name of Panama Papers has been used for the roughly 11.5 million confidential documents from the law firm Mossack Fonseca, which specialises in wealth management.
 
Panama, Aleman said, is not the only country involved but that "21 different jurisdictions have been mentioned" as offshore tax havens where companies have been created.
 
As a result of the leak, French Finance Minister Michel Sapin announced on Tuesday that Panama would again be included on its blacklist of tax havens, from which it was eliminated in late 2011.
 
Aleman recalled that "in Panama, there is a law that sets out retaliation measures against countries that include Panama in 'gray lists'."
 
Deputy Foreign Minister Luis Miguel Hincapie regretted the "irresponsible statement" by the head of the Organization for Economic Cooperation and Development, Angel Gurria, who urged on Monday that Panama "immediately" apply the international standards of fiscal transparency, criticising the central American country for having long resisted appeals to take that step.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Judge rejects Porsche's responsibility in Paul Walker's death
Los Angeles : A federal judge in Los Angeles ruled that automaker Porsche was not responsible for the November 2013 car crash that left actor Paul Walker and a friend killed, the media reported.
 
A district judge thus resolved the lawsuit filed in May 2014 against Porsche by the widow of Walker's friend, who was driving the car in which the two men died while street racing, Efe news agency reported.
 
Kristine Rodas, the widow of Roger Rodas, said there had been manufacturing and safety defects in the Porsche Carrera GT, but that argument was rejected by the judge as the cause of the crash that led to the men's deaths.
 
The plaintiff argued that the passenger compartment was not sufficiently strong and that the vehicle was not designed to protect its occupants from a side impact, and there were also defects in the gas tank and the vehicle's suspension.
 
The judge rejected all those claims saying that there was no evidence to support them.
 
In her complaint, the plaintiff said that the vehicle in which her husband and the film star were riding was travelling at 88 km (55 miles) per hour at the time of the crash, while the police report on the accident said that it was travelling between 128 kph and 150 kph (79 mph to 93 mph).
 
The Carrera GT, authorities said, was travelling at more than twice the legal speed limit and burst into flames after hitting a public light pole and a tree.
 
Walker, who achieved fame for his key role in the "Fast & Furious" action racing films, died on June 30, 2013, at age 40 from "trauma and burns," according to the autopsy report published by the Los Angeles Coroner's Office.
 
The actor's daughter, Meadow Walker, also filed a lawsuit against Porsche in September 2015 contending that design defects caused the crash. That suit is still pending.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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British Business Secretary in Mumbai to salvage Tata Steel jobs
Mumbai : British Business Secretary Sajid Javid will meet with Tata Sons chairman Cyrus Mistry here later on Wednesday to avert over 40,000 job losses in Britain following Tata Steel's announcing its intent to sell its British steel business.
 
According to a report in the Guardian newspaper, Sajid Javid flew to Mumbai on Tuesday night for talks with the Tata chairman.
 
The British daily said the British minister's visit here followed his talks with the country's labour unions, who called for Javid to ensure that Tatas do all it can to find a buyer for its British sites.
 
Earlier, British Prime Minister David Cameron held emergency talks in London with ministers to tackle the crisis engulfing Tata Steel's British operations, amid warnings that the firm has just weeks for a rescue deal on which up to 40,000 jobs could depend, the paper reported.
 
The Labour Party has termed it a national crisis, wanting the steel industry to be nationalised.
 
Having suffered nearly $3 billion in losses on the British operations, Tata Steel last week said it will explore options to put its entire portfolio there up for sale, some 10 years after it forayed into Europe by acquiring the Anglo-Dutch Corus for over $8.1 billion.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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