Pakistan has approved export of 30,000 tons of wheat at subsidised rate to grain hungry Iran on government to government basis out of the 100,000 tons on immediate basis on the request of Iranian Embassy in Islamabad.

The role of the European Banking Authority must be beefed up beyond current plans to ensure that regulation of Europe's banks does not fragment into two competing systems, one of the architects of the reforms told a public hearing on Friday. Jacques de Larosiere, former head of the Bank of France and IMF, said the European Central Bank's role in a European Banking Union to supervise euro zone lenders risked creating a "duopoly" that would split the bloc's single market next year.

New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman - who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal - said other states had found similar problems.