World
US auction house official guilty of smuggling ivory, rhino horn
Washington : An official of a California-based auction house pleaded guilty of smuggling carvings and other items made from protected wildlife worth $1 million.
 
Joseph Chait, a senior auction administrator of the I.M. Chait gallery and auction house, pleaded guilty to smuggling elephant ivory, rhinoceros horn and coral in a New York federal court, prosecutors said on Wednesday. He could face up to 10 years in prison under two related charges, Xinhua news agency reported.
 
Prosecutors said he falsified customs forms to show that items made from protected wildlife were made of bone, wood or plastic. 
 
He also helped overseas clients smuggle such items out of the US.
 
According to sources, one carving made from rhino horn was auctioned for $230,000.
 
The announcement came on the same day as the International Union for Conservation of Nature said in a statement that more than 1,300 rhinos were poached in Africa last year, a record since 2008 when trade in rhino horns became banned in South Africa. 
 
The country is reportedly home to 20,000 rhinos, or 80 percent of the world's rhino population.
 
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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Its in-built profile-tracker tells me that I have already saved 53,000 keystrokes, corrected 26,000 typos, completed or corrected 9,000 words and predicted 5,000 words, since I started using it. There is a small memory overhead for Swiftkey to function; but for all that it does, I would not mind sacrificing twice as much for it. After all, 10 million users in 38 countries, with multi-language support, cannot be wrong! And the news is that Microsoft is going to take over this company very soon.  Please check on https://goo.gl/XpnTf2

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RBI scraps curbs on buying of Kotak Mahindra Bank shares
Chennai : India's central bank, the RBI on Wednesday said that the restrictions placed on the purchase of Kotak Mahindra Bank Ltd's shares are withdrawn immediately.
 
The Reserve Bank of India (RBI), in a statement, said the aggregate share holdings by global depository receipts (GDR)/American depository receipts (ADR)/foreign direct investment (FDI)/foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs)/NRIs/Persons of Indian Origin (PIOs) under portfolio investment scheme in Kotak Mahindra Bank Ltd. has gone below the prescribed limit.
 
The Reserve Bank has notified this under the Foreign Exchange Management Act (FEMA).
 
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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