A-3ES3, Syndicate - Today marks the grand opening of an Intaki Bank branch in the city of Atlas on the colony of Utpattia. Prominent members of the I-RED directorship, including Director of Public Works Roirdan Bouchate and Director of Finance Julianni Avala, were among those present at the opening ceremony. Among internal I-RED news networks, the opening of the Intaki Bank branch was relayed as a welcomed breath of business competition. To certain outsiders, however, especially those from the Federation, the move has raised some eyebrows.

"The Ishukone-Raata Corporate Bank is now no longer the only bank operating within the colony of Utpattia", commented Director Bouchate. "And we here at I-RED can only welcome some friendly competition from our friends in Syndicate. Additionally, the people who call this colony home certainly deserve to have more options when it comes to choosing their financial institutions."

A representative from Intaki Bank remarked during the ceremony, "We thank I-RED for the opportunity to open up business on Syndicate's first public colony. And we also extend our thanks to the elected city council of Atlas who have provided the final approval for our institution to set up shop here." It is worth noting that the Atlas city council is a seven-member panel of which five members are ethnic Intaki; four of the five are life time residents of the Intaki Syndicate while the fifth is an immigrant from Placid. "We look forward to providing financial services to the people of this colony", the representative concluded.

A number of Federation Senators have already blasted the move. Some have even gone so far as to propose sanctions against both the Intaki Syndicate and I-RED. Legal experts have remarked that the opening of an Intaki Syndicate-linked entity on the surface of a Syndicate world is deep in murky water. On one hand, they have the right to do so using the interstellar business laws which permit, for example, a Gallente bank to open up in Caldari space. Still, some believe that there is no reason for the Intaki Syndicate to be extending their presence onto surface worlds in the region.

When pressed about the issue at the ceremony from reporters, Director Bouchate stepped in and said, "Both I-RED and Intaki Bank are prepared to take legal action should unjust and illegal sanctions occur against us for continuing to promote prosperity in the region of Syndicate. Their presence here is both legal and just."

Afterwards, gossip magazines in Syndicate and in the Federation have already began speculating about a behind-the-doors relationship between I-RED and Intaki Bank. Rumors which have been vehemently denied by both parties.