Citizens' Issues
Several terrorists killed on India-Myanmar border: Army
In a strong response to the ambush that killed 18 soldiers in Manipur, the Indian Army on Tuesday said it has launched operations along Indo-Myanmar border killing several militants.
 
The attacks were carried out in coordination with Myanmar following specific intelligence inputs of more attacks being planned, Additional Director General, Military Operations, Maj Gen. Ranbir Singh said.
 
"This morning, the Indian Army engaged two different groups of militants, along the Indo-Myanmar border at two different locations along the Nagaland and Manipur border," he said.
 
"Significant casualties have been inflicted on militants," said Maj.Gen.Singh. 
 
"We are in communication with the Myanmar authorities and we have traditionally had very good and close relationship with the Myanmar Army. We look forward to working with them in combating terrorism in future too," he added.
 
Indian Army lost 18 soldiers in the attack that took place in Chandel district of Manipur on June 4.
 
Militants attacked an army convoy with rocket-propelled grenade launchers and improvised explosive devices, along with opening fire.
 
The militants had later reportedly slipped into Myanmar.

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HSBC announces layoffs, exit from Turkey and Brazil
HSBC on Tuesday announced a new strategic plan that includes a restructuring of 10 percent of its global workforce, review of the possibility of moving its headquarters, its exit from markets in Turkey and Brazil, and an expansion of its operations in Asia.
 
The new business plan seeks to cut costs by $5 billion and push the return on equity to over 10 percent by 2017, Efe news agency reported.
 
In a statement to the Hong Kong stock exchange, the bank also announced plans to step up investments in Asia with special focus on China and Southeast Asia.
 
The bank is planning to expand asset management and insurance operations in China's Pearl river delta region in addition to pushing the internationalisation of the yuan.
 
HSBC, the largest European bank with its headquarters in London, will also be studying the possibility of relocating to Hong Kong by the end of the year, experts say.
 
Several economic journals citing a presentation made by HSBC on the internet reported that the company was planning to slash 22,000 jobs, thereby reducing its global force by 10 percent.
 
This is the second round of layoffs by the bank in the last four years.
 
In 2011, the company announced its decision to cut 30,000 jobs.
 
Company shares rose 2.4 percent in Hong Kong following the announcement.

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ICICI Bank approves M.K.Sharma as non-executive chairman
The board of ICICI Bank on Tuesday approved the appointment of M.K.Sharma as the new non-executive chairman for a period of 5 years, to succeed K.V.Kamath, who has been named the first president of the BRICS New Development Bank.
 
Sharma was formerly the vice chairman of Hindustan Unilever, ICICI Bank said in a statement here.
 
"The appointment of the new non-executive chairman is subject to the prior approval of the Reserve Bank of India and would be effective July 1, 2015 or the date of receipt of RBI approval, whichever is later," the statement said.
 
Sharma was an independent director on the ICICI Bank's board from 2003 to 2011, and is an independent director of several companies including two of the bank's subsidiaries - the ICICI Lombard General Insurance Company and ICICI Prudential Asset Management Company, the statement added.

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