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KPMG Hit by Hong Kong High Court in US$400 Million China Medical Fraud

(BE2C2) — Global accounting firm KPMG has suffered a major setback in its battle against liquidators of former U.S.-listed healthcare firm China Medical Technologies Inc, whose executives have been charged in the U.S. with defrauding investors out of over US$400 million. The China Medical case is the most high-profile and closely watched contest in years over the production of Chinese audit work papers, an issue that has put Hong Kong and U.S. regulators at loggerheads with China – and at one point threatened to leave U.S.-listed Chinese firms unaudited andRead More

Algerian Businessman Vows to Pay Danish Face Veil Fines

An Algerian businessman has said he would pay all the fines faced by women in Denmark who choose to wear full-face veils, as the Danish government on February 6 proposed a ban on full-face veils in public spaces.