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| Former trader Hayes found guilty in world's first Libor trial | |  By Kirstin Ridley LONDON (Reuters) - Tom Hayes, a former UBS and Citigroup trader, was found guilty of charges of conspiracy to defraud on Monday as a jury delivered its verdict in the first trial of a defendant accused of Libor interest rate rigging. Hayes, a 35-year-old former yen derivatives trader, faces up to 10 years in jail for each count of conspiracy over the manipulation of the London interbank offered rate (Libor), a crucial benchmark for around $450 trillion of financial contracts and consumer loans, between 2006 and 2010. Britain's Serious Fraud Office (SFO) alleged Hayes set up a network of brokers and traders that spanned 10 leading financial institutions and cajoled and at times bribed them to help rig rates, designed to reflect the cost of inter-bank borrowing, for profit.
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| Finance secretary says doesn't want to curb RBI's powers | |  The finance secretary on Monday dismissed reports that the government was trying to curtail the central bank's powers on monetary policy. The comments came days after the finance ministry published a draft parliamentary bill that would reduce the Reserve Bank of India's (RBI) independence to set interest rates. Rajiv Mehrishi said it was not right to conclude on the basis of the draft bill that the government was trying to clip the central bank's wings.
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| India orders clampdown on Internet porn, sparks censorship debate | |  By Aditya Kalra NEW DELHI (Reuters) - India has blocked hundreds of adult websites to prevent pornography becoming a social nuisance, a government official said on Monday, sparking a debate about censorship and freedom in the world's largest democracy. In India's first big crackdown on Internet porn, service providers have been directed to block 857 websites, N.N. Kaul, a spokesman at the department of telecommunications, told Reuters. "Free and open access to porn websites has been brought under check," Kaul said.
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| Predecessor says Yemen leader Hadi should be tried for treason | |  Yemen's former president, a powerful ally of Houthi forces in a four-month-old civil war, said he wanted his exiled successor tried for treason for enlisting Saudi-led attacks against the Iranian-allied militia. In remarks published on Monday by the Huffington Post website, Ali Abdullah Saleh said the air strikes by a Saudi-led coalition supporting his successor, President Abd-Rabbu Mansour Hadi were a mistake because the kingdom, formerly an ally of Yemen, is now regarded by Yemenis as an aggressor. Army units loyal to Saleh have fought alongside the Zaydi Shi'ite Houthis throughout the conflict, and his stance may prove pivotal in any diplomatic efforts to resolve Yemen's future given his wide support base in the army and bureaucracy.
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| Russia says kills six suspected militants in North Caucasus | | | Russian law enforcers killed six people suspected of involvement in "international terrorism" in the city of Nalchik, the capital of Russia's North Caucasus region of Kabardino-Balkaria, the national Anti-Terrorist Committee (NAK) said on Monday. "The militants refused to put down their arms and opened fire on law enforcement officials. Russia is struggling to quell a simmering Islamic insurgency in the North Caucasus, where some rebels have sworn allegiance to Islamic State. |
| Thai election could be delayed to 2017 if charter rejected - minister | |  A general election in Thailand could be delayed until April 2017 if a newly drafted constitution is rejected by a national reform assembly due to convene next month, a deputy prime minister said on Monday. The military government established after a coup last year initially said it wanted an election to restore democracy in late 2015 but later said it had to be delayed until 2016 to give more time for reforms which the military says should bring stability after a decade of factional rivalry. The United States and other allies are keen to see democracy restored as quickly as possible but the deputy prime minister, Wissanu Krea-ngam, raised the possibility of a further delay if proposed reforms meet opposition.
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| North Korea shows captive Canadian pastor confessing before congregation | |  North Korea released video footage on Monday of a Canadian pastor confessing before a Pyongyang church congregation that he had committed crimes against the state. Dressed in a dark blue suit and tie and speaking to a sparse congregation which included some foreign residents of Pyongyang, South Korean-born Lim appeared to be reading from a script. "The worst crime I committed was to rashly defame and insult the highest dignity and the system of the republic," Hyeon told a congregation at Pyongyang's Pongsu Church, according to video released by the semi-official Uriminzokkiri propaganda website.
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