also promotes its national Internet as a cost-saving measure for consumers and as a way to uphold Islamic moral codes. In February, as pro-democracy protests spread rapidly across the Middle East and North Africa, Reza Bagheri Asl, director of the telecommunication ministry's research institute, told an Iranian news agency that soon 60% of the nation's homes and businesses would be on the new, internal network. Within two years it would extend to the entire country, he said. The unusual initiative appears part of a broader effort to confront what the regime now considers a major threat: an online invasion of Western ideas, culture and influence, primarily originating from the U.S. In recent speeches, Iran's Supreme Leader Ayatollah Ali Khamenei and other top officials have called this emerging conflict the "soft war." On Friday, new reports emerged in the local press that Iran also intends to roll out its own computer operating system in coming months to replace Microsoft Corp.'s Windows. The development, which couldn't be independently confirmed, was attributed to Reza Taghipour, Iran's communication minister. Iran's national Internet will be "a genuinely halal network, aimed at Hennequin said he would choose pillows over macarons--pastries produced by Lenotre--when it comes to investments. However, the company would like to continue working with the caterer, which supplies food for the company's high-end hotels, he added. Accor has shed assets over the years in order to focus resources on the hotels business, most notably its vouchers diviin places like Hong Kong and Singapore. Such outsourcing is illegal in Korea. "Such practices are part of the foreign banks' desire to manage their entire Asian portfolio," Kim said. "In cases of big investment banks, trading on a regional level can have a great impact on the domestic financial markets as such management can lead to sharp changes to the portfolios of the banks' local branches." The FSS plans to inspect 15 foreign banks operating in Korea every year to monitor their fund management from this year, citing the need to proactively manage potential market risks. "Foreign banking branches (in Korea) are considered to have a great effect in increasing the volatility of capital flows in and out of the market," the FSS said in a separate statement, adding such branches tend to take on short-term foreign currency borrowings to conduct derivatives or government bonds trading. Kim told reporters HSBC Holdings PLC and Credit Agricole S.A. have already been sanctioned for improper outsourcing of operations involving derivatives. He added that another European bank may be sanctioned fo