World
Will not take legal action against S Korea's ban: Volkswagen
Volkswagen Korea on Monday said it would not take legal action against a decision by the South Korean government to ban sales and revoke the certificates of 80 of its models over the German carmaker's emissions cheating scandal.
 
The local unit of the German company said earlier this month that it was considering a legal challenge after the South Korean Environment Ministry revoked certificates of 80 models of Volkswagen, Audi and Bentley, and fined the automaker 17.8 billion (around $15 million) for allegedly forging documents on emissions or noise-level tests, EFE news reported.
 
However, the company on Monday reportedly said it would no longer pursue such an action.
 
"We reached a conclusion that we need to move towards re-certification and resolve the current situation," an official at Volkswagen Korea said.
 
The measures against Volkswagen in South Korea came after an extensive probe into the company, which included raids of its offices and the arrest of a company executive.
 
Environmental activists gathered on Monday in Seoul's Gwanghwamun Square to call on the government to take further action against Europe's largest carmaker.
 
Holding up cardboard models of Volkswagen Beetles and messages reading "Main culprit of fine dust is Volkswagen", the group demanded answers over the scandal.
 
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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COMMENTS

Chatar Singh

4 months ago

So liek compney

rk pharmacy

4 months ago

your company any time wil close that time deposit cash in deposit invester acount

Hamid Khan

7 months ago

Hallo

Noor Mohammad

9 months ago

Well, I was also suspecting this website in the beginning whether it is actually profit giving company or just a bullshit. My friend also showed me some web links of the clients, most of them were looking like they made it on their own e.g. Home tuition, auto insurance, auto repair etc. but there were some big links also like google, yahoo but what is the harm in promoting these big giant sites on your website without paying them anything. Even everyone would be loving if his/her website will be promoted by some source without paying anything. And after reading the above article, I am damn sure that the time when this company stops getting new members from outside, they will stop paying their members too. I am sure for this because socialtrade itself provide membership for 1 year only while others provide lifetime membership. They are even not sure whether they will be getting more members in the next year as well or not so they can ask their members to renew the membership. Ultimately company will be in profit if members renews their membership otherwise we all knows what can happen. Most of the joined members will not ask you to join with a basis package of Rs.5750 instead they will ask you to join with Rs.57500. Such a big amount yeah. And if you starts with Rs.5750 you will not be able to earn income of a rickshaw puller. We just need to think that is there anyone than can give Rs.516 by just clicking 125 links. Lets take an example, this company has 10,000 members & all gets link to click "Home tution", now 10000 clicks multiplied by Rs.5 equals Rs.50000. Can any website owner give this big amount on a daily basis just to promote his website. In future this will surely become only an MLM not more than that. Speakasia was so much popular than these socialtraders, if that website can be closed then why not this. The moment when any government official starts auditing this company work, the picture will become more clear to everyone. I was also about to join this fake money making scheme but now, a big No! Because it may not be now but in future it will be closed and all the dreams of people will surely die. If anyone wants to contact me, just call +91-8527570542.

REPLY

Harpreet Singh

In Reply to Noor Mohammad 9 months ago

Please stop your review
And let the company going on
All are getting there payout at right time
If you are not the member of the company so please do not give your bad reviews thanks

Kavya Ahuja

In Reply to Harpreet Singh 5 months ago

Is it safe..

Govind Kanwaria

In Reply to Kavya Ahuja 4 months ago

You are right kavya ji

Noor Mohammad

In Reply to Harpreet Singh 8 months ago

I'm sure that you are also earning a good amount through this business. I am not posting any bad reviews about the company. I just explained what this company is doing in my words. I know & am not denying this fact that there are thousands of people who have already joined this business and earning a good income like you but I would request each & every member of this MLM COMPANY to indulge in some other earning source as well because no-one can judge the future of these kind of companies.

Satya Prakash Chaurasia

In Reply to Noor Mohammad 5 months ago

There are different packages , starting from 5000 plus tax. A person can spend money according to his/her economic status. Like every business we start, it also has some risks. However, important point is that return is very high. People loose a lot of money in share market but nobody talks cheap about share market. Simillary we can lose or gain money here. However, chances of loosing is quite low because your money is returned within 4 months. So of company is running atleast for 4 months u will get all your money back and u will enter profit zone.

Satya Prakash Chaurasia

In Reply to Noor Mohammad 5 months ago

There are different packages , starting from 5000 plus tax. A person can spend money according to his/her economic status. Like every business we start, it also has some risks. However, important point is that return is very high. People loose a lot of money in share market but nobody talks cheap about share market. Simillary we can lose or gain money here. However, chances of loosing is quite low because your money is returned within 4 months. So of company is running atleast for 4 months u will get all your money back and u will enter profit zone.

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Good Q1 GDP expected due to normal monsoon, salary hikes
India's national income figures for the first quarter of the current fiscal 2016-17 are due for release on Wednesday, against the backdrop of expectations aroused by a normal monsoon and the recent pay hikes for central government employees.
 
The government expects Gross Domestic Product (GDP) growth to pick up to eight per cent in 2016-17, from 7.6 per cent in 2015-16.
 
"A number of structural reforms have been undertaken by the government over the last two years. The impact of all this is beginning to be felt now. We are hoping to better our growth from last year and get closer to eight per cent," Economic Affairs Secretary Shaktikanta Das told reporters here on Saturday.
 
"Also, this year monsoon has been good. Agriculture production is expected to be better than previous two years which will contribute significantly to GDP," he added.
 
Financial services firm DBS said in a research note that on gross value added basis, India's growth is expected to have stabilized at 7.4 per cent in the June quarter, which is slightly higher than the 7.2 per cent in the same quarter a year ago.
 
"For the year we look for growth to average 7.8 per cent this year, from FY15/16's 7.2 percent," it said.
 
Multilateral agencies like the International Monetary Fund (7.4 per cent) and the Asian Development Bank (7.4 per cent) have estimated that the Indian economy is likely to slow down from last year's level.
 
However, American agencies like Fitch Ratings and investment banker Goldman Sachs have projected the economy to marginally accelerate in the current fiscal.
 
In fact, the Indian government on Thursday lauded Goldman Sachs for awarding a growth forecast of 7.9 per cent for the Indian economy in the current fiscal, riding on an improved monsoon, key reforms and increased FDI inflows.
 
"Happy that Goldman Sachs forecast Indian economy to clock 7.9 per cent growth in current fiscal with better monsoon, key reforms and FDI (foreign direct investment) inflows," M. Venkaiah Naidu, Union Minister of Urban Development, Housing and Urban Poverty Alleviation, said in a tweet.
 
"Goldman Sachs lauded several important policy changes and reforms that were carried out like GST (Goods and Services Tax) bill passage, bankruptcy code, government approval of inflation targeting framework and measures to ease doing business," he said.
 
A pick-up in infrastructure investment and easing in foreign direct investment (FDI) restrictions in the defence, aviation, retail and e-commerce sectors was also hailed by Goldman Sachs, he added.
 
Moody's Investors Service in August had forecast the real GDP growth for India at around 7.5 per cent for FY2017.
 
In the fourth quarter of 2015-16 ending March, India's economy accelerated to grow at 7.9 per cent, buoyed by improved agricultural performance and growth in consumption.
 
Private consumption growth remained robust at 7.4 per cent in 2015-16, though it was marginally revised downward from the 7.6 per cent estimated earlier.
 
Central Statistics Office (CSO) data showed India's economy grew at 7.6 per cent in 2015-16, making the country the fastest growing major economy for the second consecutive year despite two failed monsoons.
 
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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