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India's Finance Minister Vows Not To Overspend

Chidambaram gestures while he addresses a press conference after the Annual Conference of Chief Commissioners & Directors General of Excise and Customs in New Delhi on July 17, 2013. India will achieve its overall budgeted revenue target in the fiscal year to March, finance minister P Chidambaram said during the press conference. (Image credit: AFP/Getty Images via @daylife) Indias Finance Minister Palaniappan Chidambaram said despite the tough outlook for government finances, and an election coming up, New Delhi has no plans to overspend to win the hearts and minds of the electorate. On Thursday, the Economic Times reported on a Chidambaram presser on the first anniversary of his role as the countrys finance ministry where he said that state-run companies would be encouraged to raise funds overseas in new bond issues.

Serbian PM says told coalition that finance minister should go

Expertise and comprehensive account support is provided in the areas of customer service, collections, payment processing, sales and client development, information technology, risk, marketing, finance and quality. Deliver digital capabilities that enhance and ease the user experience, including online account management and bill pay, financing information on client websites and social channels, and mobile applications and servicing. Dedicate thousands of volunteer hours annually and more than a million dollars in charitable giving to support financial education and counseling for individuals and small businesses, as well as champion services that lead to self-sufficiency in low-to-moderate income households. About GE Capital's Retail Finance business GE Capitals Retail Finance business is among the countrys most successful retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales.

GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

Credit: Reuters/Djordje Kojadinovic By Maja Zuvela BELGRADE | Tue Jul 30, 2013 12:22pm EDT BELGRADE (Reuters) - Serbia's Prime Minister told his coalition partners on Tuesday the finance minister should stand down, denting the country's hopes of starting EU entry talks and raising the prospect of a snap election. "I propose to the government to carry out its work without (Mladjan) Dinkic and his URS (United Regions of Serbia)," Ivica Dacic told reporters. Dinkic led an unpopular budget reform process in June in the hopes of pulling Serbia out of a double recession. Dacic's Socialists (SPS) and the nationalist Progressive Party (SNS), the two biggest parties in the alliance, had already agreed to reshuffle their ministers but Dacic on Tuesday said his party may also leave the coalition if SNS failed to back him.


Posted on 31/7/2013 at 23:49

Serbian PM moves to oust finance minister, risking election

Wielding Finance, Innovation And Policy To Make An Impact In Climate Change

"I don't think Dinkic himself was absolutely central but his participation and his party's participation in the coalition was important to counterbalance the center-left Dacic," he said. "PURE POLITICKING" Dinkic has served as central bank governor, finance minister and economy minister under several administrations since the ouster of Serbian strongman Slobodan Milosevic in 2000, when the country began emerging from a decade of war and economic turmoil. He led an unpopular budget reform process this year, trying to stabilize Serbia's finances and pull the economy out of recession. Analysts say he would have taken a harder line in cutting public sector wages and pensions, but was reined in by Dacic's Socialists who were strongly against.

WhiteHorse Finance, Inc. to Report Second Quarter 2013 Financial Results

The teleconference replay can be accessed by dialing 404-537-3406 (domestic and international) and entering ID# 14342688. A webcast replay will also be available on the investor relations portion of the Companys website at http://phx.corporate-ir.net/phoenix.zhtml?c=251424&p=irol-IRHome . About WhiteHorse Finance, Inc. WhiteHorse Finance, Inc. is a business development company that originates and invests in loans to privately held small-cap companies across a broad range of industries.

FORBES ASIA: What are the major bottlenecks to larger flows of investment into sustainable infrastructure in developing and emerging countries? Widge: There are 2 main challenges. First, developing and emerging economies need to develop investment-grade policy frameworks that generate a strong pipeline of bankable green growth projects. This can be done through enacting national targets supported by regulatory frameworks and predictable incentives.


Posted on 31/7/2013 at 05:36

Weil's Views on Finance

Even if the bribery claims were all false, it wouldnt be a shock to find out that a huge Western company copped a plea to mollify the Chinese authorities and make sure its business there didnt suffer major interruptions. The beatings will continue until Sonys stock price improves Its always fun to read Dan Loebs letters to investors at his hedge fund Third Point, especially when hes in activist mode. Commenting on Sonys entertainment division, the fund says it remains poorly managed, with a famously bloated corporate structure, generous perk packages, high salaries for underperforming senior executives, and marketing budgets that do not seem to be in line with any sense of return on capital invested. Give Loeb credit for trying to do something about it. Third Point bought its Sony stake earlier this year. Theres never a shortage of Big Four accounting-firm scandals This time its Deloitte & Touches U.K.

The framers on campaign finance law ? via Tumblr

Mihajlovic spoke after a meeting of Dacic, his deputy Aleksandar Vucic, and Finance and Economy Minister Mladjan Dinkic . Before the meeting started, Dacic said theyd discuss personnel changes and a change in the approach to finance and economic policy making, according to Tanjug newswire. Dacics Socialist party agreed July 26 to make changes. Dinkic said on July 28 that he would be willing to split his cabinet portfolio and remain finance minister while creating a separate Economy Ministry controlled by Vucics Serbian Progressive Party.

Serb Leaders to Discuss If Finance Chief Stays in Cabinet

ET. To access the teleconference, please dial 706-758-9224 (domestic and international) approximately 10 minutes before the teleconferences scheduled start time and reference ID# 14342688. Investors may also access the call on the investor relations portion of the Companys website at http://phx.corporate-ir.net/phoenix.zhtml?c=251424&p=irol-IRHome . If you are unable to access the live teleconference, a replay will be available beginning approximately two hours after the calls completion through August 20, 2013. The teleconference replay can be accessed by dialing 404-537-3406 (domestic and international) and entering ID# 14342688.

WhiteHorse Finance, Inc. to Report Second Quarter 2013 Financial Results

Liberal lawmakers and consumer protection advocates, like the Center for Responsible Lending , oppose the bill because scrapping the government guarantee and increasing down payment requirements would make it much more difficult to obtain a 30-year fixed-rate mortgage, curtailing opportunities for low-income, minority home buyers. Those are the ones to whom were about to say, sorry the windows closed. Let them eat rent, says John Taylor, president of the National Community Reinvestment Coalition, of Hensarlings proposal. Do people in his district pay any attention to what hes doing? Because hes basically advocating for homeownership for the rich only. The National Association of Home Builders, who are interested in ensuring that as many people can buy new homes as possible, shares consumer advocates concerns . By simultaneously leaving all federal support for housing to FHA, and then by greatly reducing the overall scope and reach of FHAs programs, the PATH Act would greatly limit homeownership and rental housing opportunities for many financially responsible and qualified Americans, said CEO Jerry Howard.

A quick-and-dirty guide to the housing finance reform battle

But, as Harvards Lessig observed, our nations founders viewed both individuals (Aaron Burr is corrupt) and institutions (Parliament is corrupt) as capable of succumbing to improper influence that would harm the nation. So Lessig had two of his research assistants scour online databases of framing texts to gather every use of the term corruption. The team coded the different usages to show whether the term was used in reference to an individual or an institution, and then whether it was used with regard to quid pro quo corruption or an improper dependence kind of corruption. (The latter means that individuals or institutions are dependent on special interests or on public or private money basically, dependent on anything or anyone other than the voters, on which officials and public institutions are properly dependent.) Lessigs results are striking. As he explains on his Corruption, originally Tumblr blog , the significant majority (57 percent) of the framers use of corruption was in reference to an entity or institution not an individual.


Posted on 30/7/2013 at 23:28

Big finance is strangling innovation

Weil's Views on Finance

From 2004-2008, for example, when other advanced economies were pouring money into clean technology, the U.S. financial markets were rapidly innovating new financial products that served to extract yet more wealth from the productive parts of our economy. The wrong kind of innovation Paul Volcker once famously quipped that the ATM is the only useful financial innovation hes seen in the last 20 years. It seems that while we havent gotten around to things like clean technology, weve created lots of innovative ways for ordinary people to lose moneythings like lines of credits on homes that tend to thrust people into debt more quickly and force them to bear the burden of Wall Streets obsession with making bigger returns at any cost.

Dacic says the country has no time for mistakes. He adds that economy and finance are the most important issues for the future of Serbia. Dacic did not specify why Dinkic was being replaced and did not immediately announce any other changes. He hinted at disagreements among parties in the governing coalition over the reshuffle. The European Union has agreed to open accession talks with Serbia after Belgrade reached a deal normalizing ties with Kosovo in April. Copyright 2013 The Associated Press.

Serbian leader to oust finance minister as part of government reshuffle

Third Point bought its Sony stake earlier this year. Theres never a shortage of Big Four accounting-firm scandals This time its Deloitte & Touches U.K. affiliate. The Daily Mail writes that the firm was sweating on Monday night over the size of fines it might suffer for its role in the collapse of MG Rover, the carmaker. A tribunal found the firm and a partner had displayed a persistent and, in our view, deliberate disregard for proper accounting practice.

Tightening the Belt: 5 Things that You Shouldn't Finance If You're on a Budget

Related: The 25 healthiest foods for under $1 3. Furniture Upgrades Many furniture stores offer great in-house financing. And zero percent truly is captivating. But these offers are feeding our consumerist lifestyles. If you're upgrading couches, great!

Research and Markets: Global Trade Review (GTR) - 2013 Edition: The Trade Finance Market's Biggest Single Source of Contacts in the Industry

Global Trade Review-GTR is your first and most reliable source of information. Reviews GTR is the best trade finance magazine on the market: up-to-date information on who is doing what and where. GTR is definitely a desk top must have and is excellent value for money! - Danielle Austin, International Trade Finance Manager, Helicopter Support, Inc, Sikorsky GTR is terrific for keeping in touch with market news and developments from commodities to trade finance. - Paul Schuilwerve, Managing Director, Structured Commodity Finance, Fortis Bank For more information visit http://www.researchandmarkets.com/research/p8mvh8/global_trade About Research and Markets Research and Markets is the world's leading source for international market research reports and market data.


Posted on 30/7/2013 at 16:12

Oh for the simplest solution in finance

Democrats File Complaint Over Stanzione's Campaign Finance Report

This cultural trait has been building up over the last 20 years or so to the point where it is ingrained just about everywhere. Ever more complex structured finance products such as "synthetic collateralized debt obligations" were blamed for the financial crash that is simplistic and misses the point but the fact is, who really needs them? Can the investors' needs be met only with such products? As The Jam sang over 30 years ago, "the public wants what the public gets". Most companies would be happy with the simplest solution but if they are presented with the complex one first, they will often consider it because it's there.

Next Previous Slideshow Download While Democrats question Republican Town Councilman Dominick Stanzione's latest campaign finance reporting, Stanzione said it's a mistake he is already taking steps to correct. The Friends of Dominick Stanizione, the councilman's re-election campaign committee, filed a finance report by the July 11 cutoff that claimed " no activity " for the past six months. Stanzione was the treasurer for the committee. The East Hampton Democratic Campaign Committee filed a formal complaint with the New York State Board of Elections on Monday. In a letter faxes to the enforcement division of the campaign finance unit in Albany, Christopher Kelley, the Democratic campaign chairman, claims Stanzione filed "a false campaign finance report." He pointed to four advertisements in The East Hampton Star and other local newspapers, as well as on East Hampton Patch. "It is our understanding that both the expenditures for the ads and the source of the funds to pay for them are required to be disclosed in the periodic campaign finance report," he wrote.


Posted on 30/7/2013 at 10:04

Big finance is strangling innovation

Serbian finance minister cedes economy brief, averts risk of snap poll

In 2011, the U.S. ranking was unchanged . Worse, the U.S. ranked second to last in terms of progress over the last decade.

Democrats File Complaint Over Stanzione's Campaign Finance?

Dinkic had previously resisted splitting up his ministry, but Prime Minister Ivica Dacic warned on Saturday that the coalition would go on without him if he did not. Financial markets seem likely to welcome Dinkic's continued presence in government. He has slowed the rate of increase of Serbia's budget deficit and public debt, which had ballooned to all but scuppered hopes of a new precautionary loan from the International Monetary Fund. Dacic's Socialists and the nationalist Progressive Party (SNS), the two biggest parties in the alliance, had already agreed to reshuffle their ministers.

D.C.?s campaign finance laws need reforming

In closing the case in December, U.S. Attorney Ronald C. Machen Jr. urged city elections officials to revisit the issue with administrative proceedings.

"Even if the ads were donated, they would have to be reported as contributions in-kind and the donors name disclosed." By phone Monday afternoon, Stanzione acknowledged an issue with his latest finance report and said he paid for the ads with personal funds as a loan to his campaign, he said. A professional treasurer, whom he recently hired, with the firm Campaigns Unlimited brought the problem to his attention about a week ago, he said, after reviewing the report. The firm is making the appropriate adjustments, he said. "My bad.

GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

Finance Tue, Jul 30, 2013, 3:57 AM EDT - U.S. Markets open in 5 hrs 33 mins GE Capital Retail Finance Celebrates 80 Years of Consumer Financing Focus on Major Retailers, Mid-Size Businesses and Merchants Builds Success through All Cycles Press Release: GE Capital Retail Finance 13 hours ago GE Capital Retail Finance Celebrates 80 Years (Graphic: Business Wire) Multimedia Gallery URL RELATED QUOTES 24.49 STAMFORD, Conn.--(BUSINESS WIRE)-- GE Capitals Retail Finance business traces its roots to the 1930's when the economy was rebounding and consumers wanted payment options to purchase the GE appliances they needed, including GEs first electric dishwasher. Today, GE Capitals Retail Finance business is among the countrys most successful retail lenders and celebrating 80 years of providing financial solutions to retailers to help grow their customer sales and enable consumers to buy the products and services they need and want. The business provides customized credit programs to retailers and consumers in the United States and Canada, including private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as promotional and installment lending, bankcards and financial services for consumers through dealers, contractors, manufacturers, healthcare practices, associations, and service providers. Weve been working with the GE Capital credit card program for over 30 years to provide our customers with financing options to help them accomplish their home improvement projects,said Dennis Knowles, Lowes Executive for U.S.


Posted on 30/7/2013 at 03:55

Taiwan Replaces Finance, Defense Chiefs

Serbian finance minister cedes economy brief, averts risk of snap poll

Invalid entry: Please type the verification code again. July 29, 2013, 6:58 a.m. ET Taiwan Replaces Finance, Defense Chiefs Text By Jenny W. Hsu And Aries Poon TAIPEI--Taiwan's government replaced its financial regulator and military chiefs Monday, in a bid to assuage public criticism over the island's tapering economic growth and a scandal over the suspicious death of a young corporal.

Credit: Reuters/Marko Djurica BELGRADE | Sun Jul 28, 2013 11:36am EDT BELGRADE (Reuters) - Serbian Finance Minister Mladjan Dinkic agreed on Sunday to cede his economy portfolio, averting possible snap elections that could have dented the country's ambitions to join the European Union. Dinkic said he would remain as finance minister, while the economy portfolio would go to the SNS, Serbia's biggest party, paving the way for a fuller cabinet reshuffle. Dinkic had previously resisted splitting up his ministry, but Prime Minister Ivica Dacic warned on Saturday that the coalition would go on without him if he did not. Financial markets seem likely to welcome Dinkic's continued presence in government. He has slowed the rate of increase of Serbia's budget deficit and public debt, which had ballooned to all but scuppered hopes of a new precautionary loan from the International Monetary Fund.


Posted on 29/7/2013 at 21:43

Why Every Finance Professional Needs a Degree in Big Data

Weak Earnings Growth Outside Finance

McKinsey & Co . estimates that by 2018 there will be up to 190,000 unfilled data-scientist jobs in theU.S. and an unfilled need for 1.5 million managers with analytical skills they can apply to their line jobs. That skills shortage emerges in many pockets of business. A recent survey by Booz Allen Hamilton found only 18% of managers of federal departments believe their agencies have the capability to analyze Big Data.

RPT-Fitch Updates Criteria for Servicing Continuity Risk in Structured Finance

It was frightening. I had people relying on me not just myself, but my wife and my infant son. I needed to make sure that certain things were provided for them a roof over their head and food in their bellies, for starters. RECOMMENDED: Can you manage your money? A personal finance quiz.

"We have received representation from Pension Fund and Regulatory Development Authority (PFRDA) that the government employees should have same choices of pension fund managers as is available to non-government subscribers," a source said. The Ministry is considering this proposal as there is no reason to deprive the government employees of the same choices both regarding pension fund managers and also the choice of investment pattern as is available to their private sector counterparts, sources added. Based on the decision taken, sources said, a notification will be issued shortly. Currently, there are three fund managers for managing pension corpus of government employees. They are LIC Pension Fund Ltd, SBI Pension Funds Pvt Ltd and UTI Retirement Solutions Ltd.

Finance Ministry may allow 5 pvt funds to manage pensions of govt staff

Finance Minister P Chidambaram. (IE Photo) The budget deficit is expected to top at least 6 percent of gross domestic product this year, down from 7.3 percent in 2012. The current-account deficit will reach 8.7 percent of GDP according to IMF forecasts. Monetary policy makers are balancing the need to shore up Serbia s $37 billion economy against fighting inflation and shielding the dinar from market turmoil. The inflation rate fell to 9.9 percent in May, dipping below 10 percent for the first time in nine months. On Friday, Fitch ratings agency affirmed Serbias rating at BB- with a negative outlook, reflecting the high fiscal deficit as well as a risk of balance of payments pressures and intensification in the euro area crisis.

Personal finance lessons from the Detroit bankruptcy

The earnings growth rate is better than what this same group of companies reported in recent quarters, the revenue growth rate is about in-line with recent history, while the beat ratio, particularly on the earnings side, is a bit weaker. Finance results have been very strong, with total earnings for the companies that have reported results up an impressive +31.9%. Excluding Finance, total earnings for the remainder of S&P 500 companies that have reported would be down -2.8% from the year-earlier period. Finance reclaims its leadership role in the S&P 500, contributing more earnings to the indexs total than Technology this year for the first time since the 2008 crisis.

Serb Leaders to Discuss If Finance Chief Stays in Cabinet

The update does not contain any material changes and will not have any rating impact on existing transactions. No ratings will be reviewed as a result of the criteria update. The report entitled 'Criteria for Servicing Continuity Risk in Structured Finance' is available at www.fitchratings.com and replaces the previous report dated 10 August 2012. The report is available at www.fitchratings.com or by clicking on the link below.


Posted on 29/7/2013 at 05:41

Big finance is strangling innovation

It seems that while we havent gotten around to things like clean technology, weve created lots of innovative ways for ordinary people to lose moneythings like lines of credits on homes that tend to thrust people into debt more quickly and force them to bear the burden of Wall Streets obsession with making bigger returns at any cost. Jan Kregel and Leonardo Burlamaqui have examined how as the financial sector has grown larger, the U.S. has ceased to be a center for developing new knowledge. Finance is no longer playing the role of the handmaiden of creative destruction that allows industry to produce technological advance and economic development. Kregel and Burlamaqui also observe that the financial services industry has special features which create economic instability in a variety of ways, for example, using things like derivatives packages to shift risk from financial firms onto those less able to bear that risk.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

You either have it or you don't--it's the fuel necessary for driving your career forward, staying ahead, and ultimately finding long-term success. Recently, I spoke with Edie Hunt , Chief Diversity Officer and former Head of Talent Management at Goldman Sachs. One important aspect of our conversation was her rise through the ranks of the finance sector at a time when women were rare on Wall Street. It's safe to say her numerous successes can be attributed to her passion for her position, company, and the finance sector as a whole.

Baucus Says Finance Panel to Consider Tax Code This Year

A chairman usually does not -- and in this case wont -- go into a room with a lot of surprises, said Leonard, a former House Democratic staff member whose clients include United Technologies Corp. and the Private Equity Growth Capital Council. I certainly hope that he can get there, Senator Charles Schumer, a New York Democrat on the Finance panel, said of the prospects for committee action. There are a lot of questions that have to be answered, above all, revenues. Baucus, who supports raising additional revenue through a tax rewrite, said when asked about a target figure: Well talk that through in the committee. Senate Republican leader Mitch McConnell of Kentucky said a revamped tax code would be good for the country, while he rejected Democrats proposal for additional revenue.

Yarmouth finance department could see reorganization

Hincheys proposed fix is to separate the positions of finance director and town accountant, which would allow the town to select from two distinct pools of specialists, rather than trying to find a single person who could handle both. It would also mean a change in the bylaw, which would in turn require a vote at the next town meeting. Selectwoman Tracy Post apologized to the candidates who appeared before the board at its last meeting, but agreed that Hincheys plan was the best course. I think this does set us onto a better position for the future, she said.


Posted on 28/7/2013 at 23:35

Personal finance lessons from the Detroit bankruptcy

The year-on-year decline in profits during the quarter was on account of stagnation in loan growth and lower yield on liquidated loan accounts, Managing Director George Alexander Muthoot said in a statement. Reuters Expenses were high on account of lenders continuing higher level of interest and administrative expenses going up with the addition of branches in the past one year, he said. The companys retail loan assets under management stood at Rs 25,848 crore as of June 30. Muthoot Finance, the Kochi-based gold financing and non-deposit taking NBFC (Non-Banking Finance Company), said it has applied to the Reserve Bank for a banking licence.

Baucus Says Finance Panel to Consider Tax Code This Year

That experience, in many ways, parallels whats happening in Detroit. Much like Detroit,we all have basic maintenace were responsible for.Detroit has facility maintenance, while we have rent and insurance and so on. Much like Detroit,we have people relying on our hard work.Detroit has pensions and salaries for thousands of employees, while we have the safety and well-being of ourselves and those in our immediate family. Much like Detroit,we can face suffocating debt.Detroit has interest payments on $11.5 billion in unsecured debt. Many people in financial peril are facing interest payments on student loans, mortgages, car loans, credit card debt, and so on.

Reuters Its a work in progress, but its a serious work. To contact the reporter on this story: Richard Rubin in Washington at rrubin12@bloomberg.net To contact the editor responsible for this story: Jodi Schneider at jschneider50@bloomberg.net U.S. Senator Max Baucus Brendan Smialowski/Bloomberg U.S. Senator Max Baucus, a Democrat from Montana, isn't running for re-election and will leave Congress Jan. 3, 2015.

Finance companies and fictitious accounts

CIFL was also grossly mismanaged over an extended period of time and there were allegations of money being siphoned off. The CB has now commissioned a detailed probe on CIFLs financial information and practices. The forensic audit will reveal which of its employees were responsible for siphoning off funds. Even this investigation was considerably delayed due to non-submission of information by the company.


Posted on 28/7/2013 at 07:21

Why Every Finance Professional Needs a Degree in Big Data

Finance companies and fictitious accounts

Most companies are going to have to make a commitment to training their own talent. Virtually all business schools require students to take at least one business statistics class and many are adding more courses in analytics, but what better place to start training than within finance organizations? Numerically-literate employees are the best candidates for training. Barry Melancon , president of the American Institute of Certified Public Accountants, recently blogged that CPAs are perfectly suited to take a leadership role in deciphering and using Big Data to achieve strategic business goals. Given the large numeric datasets that financial professionals encounter every day, a mastery of analytics is a necessity, not an option. My company, IBM, recognized the coming shortage several years ago, and took a broader view in training high-potential hires with Big Data skills.

Finance minister directs Gulf aid to foreign reserves and state budget

Baucus and Orrin Hatch of Utah , the top Republican on the Finance Committee, have asked senators to submit ideas for tax changes by July 26. They said they are starting with a clean slate and are seeking justification for restoring any tax breaks. Baucus has his own deadline. He isnt running for re-election and will leave Congress Jan. 3, 2015.

Directing this Gulf aid towards foreign reserves and the budget should offset pressure on the exchange rate of the Egyptian pound and increase finances to purchase the strategic goods needed by Egyptians, he said. However, Alaa Mostafa, CFO at ElSewedy Cables and a financial expert, said any increase in foreign reserve levels is unlikely as long as political instability remains. Mostafa said the recent injections of Gulf aid are likely to bolster reserves temporarily, but the value of the aid will remain economically misleading. We must first look at factors such as tourism revenues, production and exportation before we say we have substantial foreign currency reserves, Mostafa said. In a report published 15 July, credit rating agency Moodys stated that despite the positive effect the Gulf lifelines will have in increasing foreign reserve levels and reducing the budget deficit, real risks remain. The funding provides only temporary relief from the political and economic challenges in Egypt, it stated.

Baucus Says Finance Panel to Consider Tax Code This Year

Ananda Silva. They have managed to bridge the gap. He revealed that ETI is looking for an investor to further restructure the company. The position of the company is much better today compared to six months ago, said Mr. Ekanayake.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

"Understand what the job entails, find a job match that you're going to enjoy, because any of these jobs--particularly those at Goldman Sachs or Wall Street--require a lot," Hunt said. "They're demanding roles...So it better be something you like, because if you like it, you have a chance at being good at it." Being in a position you love allows you to provide an engaged and refreshing perspective in the workplace. Others will notice your passion and feel more energized and motivated, while your managers will be more likely to help you rise through the ranks. Combine Your Skills With Your Passion Let your passion play into your skillsets. Those who are truly invested in their work are good at it and always looking to improve.


Posted on 28/7/2013 at 01:09

Finance minister directs Gulf aid to foreign reserves and state budget

In a report published 15 July, credit rating agency Moodys stated that despite the positive effect the Gulf lifelines will have in increasing foreign reserve levels and reducing the budget deficit, real risks remain. The funding provides only temporary relief from the political and economic challenges in Egypt, it stated. Aid from the Gulf states alone, unless accompanied by a strong economic policy framework, is unlikely to bolster confidence enough to reinvigorate domestic and foreign investment to pre-revolution levels, the report explained. It stated that although the total Gulf support surpasses the proposed $4.8bn loan package from the International Monetary Fund (IMF), fiscal reforms associated with the program are still essential to reduce deficit and debt refinancing requirements. The release cited continued sectarian violence triggered by heightened political uncertainty amid the recent regime change a credit negative. Moodys also pointed out that countrys weak economic growth and fiscal position, and its elevated unemployment and inflation rates remain alarming.

Due to their staggering growth, they requested a loan from RSF to help them invest in better equipment. RSF gave us the responsibility to perform financial analysis and draft a credit memo for evaluation. This experience was invaluable as it provided us with broader exposure to the entire investment process by evaluating a potential borrowers financial strength and, more importantly, its social impact. We interviewed the borrowers CFO and presented our findings to RSFs credit committee for final approval. With this experience under our belts and with the knowledge that there are innumerable nonprofits that could benefit from impact investments, we devised sofiwire.com , a database for social enterprises to search for funding given their individual characteristics.

Debt, shadow finance bedevil China?s economy

Bank supervisors cant really keep up with the new instruments and the fast growth, he said. It creates questions for credit quality, liquidity management. Though economists see the problem as serious, they also say that if defaults on local government debt - which have so far not happened - begin to ripple through the system, the government has plenty of ammunition to contain them. Rodlauer said the IMFs augmented debt calculation did not take into account factors such as state-owned assets and financial holdings, such as Chinas $3.5 trillion in foreign currency reserves, the worlds largest.


Posted on 27/7/2013 at 18:43

Finance scandal: City of Miami never learns

US to finance feasibility study of $14bn dam

In addition to my recommendations, it also included specific recommendations from 43 pro bono corporate leaders and career public servants who were assigned to 12 separate task forces that embraced all aspects of the citys operations. Unfortunately, the level of mismanagement in the city extended far beyond fiscal matters, so the Miami Financial Oversight Board appointed by Gov. Lawton Chiles used the Recovery Plan as a road map to force members of the City Commission to face up to their basic fiscal responsibilities. Task force members did a truly outstanding job over a period of 60 days and it is an insult to all that hard work to learn that some critically important lessons have since been ignored. City Commissioners Willy Gort and Tomas Regalado (now mayor) were on that 1996 Commission; however, Ive suggested many times that all Miami elected officials, managers, and department directors should read that Recovery Plan and evaluate what has and what still remains to be corrected.

In this Nov. 8, 2007 photo, George P. Mitchell poses with a statue himself at The Woodlands at Town Green Park in The Woodlands, Texas. Mitchell, Texas oil man, real estate developer, and one of Houston He said the US would support construction of the project so that donors and international financial institutions could feel comfortable in extending loans, investments and technical support to the project. aPakistan welcomes the interest shown by the US Congress for its support in carrying out feasibility studies for Pakistanas flagship storage project Diamer Bhasha Dam,a Mr Dar was quoted as welcoming the US support and said the government had no objection over preparation of feasibility study of international standards to meet requirements of US laws. The official said Mr Dar sought support of the US administration in increasing the IMF bailout package to $7.3 billion. Mr Olson said the US supported the IMF programme which was an aextremely good thinga to restore confidence of the lending and investor community. He said the US administration would put its weight behind Pakistanas case for higher loan package.

Yarmouth finance department could see reorganization

After reviewing a number of candidates for the position of finance director, and interviewing three finalists at its previous meting, the Yarmouth Board of Selectmen voted this week to hire none of them, and to begin the process of reorganizing the towns finance department instead. In presenting the new plan, Town Administrator William Hinchey told the board that the search for a new finance director had failed to reveal a candidate with all the skills and qualities necessary for the position. That failure, he said, was due more to the evolving nature of the position than to any shortcomings of the candidates. They would provide certain strengths, Hinchey said, but not the strengths wed like. Hinchey explained that the job of overseeing the various complex facets of a municipalitys finances has become increasingly technological, with expertise with complicated computer software a growing requirement of the position. Town bylaws currently stipulate that the finance director is also Yarmouths head accountant, leading to a growing confusion of duties, with a single individual being required to have great technical expertise in the minutiae of both software and numbers-crunching.


Posted on 27/7/2013 at 05:51

Is There Morality in Personal Finance?

D.C.?s campaign finance laws need reforming

But yes, it can also get in the way and keep you from making practical decisions. At that point, I don't think it's morality that's guiding thought - it's guilt. Sure, morality mayleadto guilt, but like many concepts, it's all about finding a balance: deciding what's best for yourself, financially, but making sure it doesn't get in the way of being your best self. These are just perspectives I've been considering lately; I still think the reader who inspired these thoughts had a good point.

Debt, shadow finance bedevil China's economy

Spurs in talks with Bale to stop move to Real Madrid Decades of stunning growth, rising trade and foreign investment resulted, pulling some half a billion people out of poverty. But the economic and financial system is still run by the same secretive and elite Communist Party, and in many ways remains remarkably closed to the outside world given China's size and influence as the globe's second-largest economy. The yuan currency is a long way off from full convertibility, while the government maintains a tight grip on the traditional banking system, with key institutions state-owned and tightly controlled. Andy Xie, a Shanghai-based independent economist formerly with Morgan Stanley, says that while China's banking system may look superficially similar to those of other countries, it is fundamentally different. "The financial system doesn't have a say about whom to give money to," he said.

Hundred Dollar Bills Cash Money Currency Mr. Browns 2008 campaign was fined $53,400 in a little-noticed action June 13 by the D.C. Board of Elections. The board first raised issues with the campaign in 2011 after a D.C.

Finance scandal: City of Miami never learns

STIERHEIM mrstierheim@msn.com The city of Miamis financial mismanagement that prompted current charges by the Securities and Exchange Commission is inexcusable. Questionable also is the apparent absence of appropriate City Commission oversight, including serious questions that should be answered by the citys external auditors. In late 1996, as pro bono city manager of Miami, we uncovered a $68 million shortfall in a recommended, once approved 1996/97 city budget. As illegal as that was, I felt that the citys December 1995 $73 million revenue bond issue for the pension system, which seriously understated the citys poor financial condition, was even more egregious.


Posted on 26/7/2013 at 21:24

Old-Fashioned Regulators Miss What?s New in Finance

Simply turning back the clock wont work. Securitization -- the bundling of loans into tradable assets that can be pledged as collateral -- cant be uninvented. Even if that were possible it might not be desirable: The modern short-term funding market means cheaper and more accessible finance, which in normal times is a good thing. But, as weve learned, the costs can be colossal when things go wrong.

Equipment Lease Finance Industry Confidence Up Again In July

90.6% of the leadership evaluates the current U.S. economy as fair, unchanged from last month. 9.4% rate it as poor, also unchanged from June. 34.4% of survey respondents believe that U.S. economic conditions will get better over the next six months, an increase from 22.6% in June. 62.5% of survey respondents indicate they believe the U.S.


Posted on 25/7/2013 at 10:23

Poland's premier backs under-fire finance minister

Equipment Lease Finance Industry Confidence Up Again In July

Local media speculated that Rostowski could be replaced by the European Budget Commissioner Janusz Lewandowski. But Tusk played down such expectations. "Someone who acts at a time of a crisis surely makes mistakes, but the balance of Rostowski's actions is absolutely positive and thanks to him we pay less for our borrowings," Tusk said at a news conference in the Polish city of Pulawy. The difficult fiscal situation has been eagerly used by the main opposition party, Law and Justice (PiS), who have called for a special parliamentary committee to investigate budgetary issues as well as Rostowski's actions.

The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko) View Larger Russian Finance Minister Anton Siluanov speaks on a phone as he attends a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko) View Larger From left, Central Bank Governor Jens Weidmann and German Finance Minister Wolfgang Schauble attend a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013.

Is That Finance Internship Worth It?

This marks increase from June's index of 57.3, reflecting participants' increasing optimism despite continued moderate equipment demand. Survey comments from industry executive leadership show that, depending on market segment, executives have differing points of view on current and future outlook for industry. Equipment Lease Finance Industry Confidence Up Again In July Equipment Leasing and Finance Association 1825 K Street NW USA Press release date: July 22, 2013 Washington, DC The Equipment Leasing & Finance Foundation (the Foundation) releases the July 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 59.4, an increase from the June index of 57.3, reflecting industry participants increasing optimism despite continued moderate demand for equipment.

G20 finance ministers aim for more growth

Here are some questions Dorcely-Mohr says students should ask themselves when evaluating an internship opportunity: Was there a person you could contact or an online description you could review to understand the important elements of the business? How detailed was the job description? When the company called you for the interview, did you get screened or have the chance to ask a few basic questions, or did it seem like they were just scheduling another appointment? What was the application and interview process like? "At every step of the process, an intern should be evaluating whether the organization is showing that they value their internship program and aren't just looking for unpaid gophers to do their drudgery," she says.


Posted on 25/7/2013 at 03:00

G20 finance ministers aim for more growth

(AP Photo/Alexander Zemlianichenko) View Larger Deputy Prime Minister of Japan, Minister of Finance, Taro Aso, right, and Haruhiko Kuroda, Governor of the Bank of Japan speak as they attend a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko) View Larger Russian Finance Minister Anton Siluanov speaks on a phone as he attends a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko) View Larger From left, Central Bank Governor Jens Weidmann and German Finance Minister Wolfgang Schauble attend a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013.

Finance, health ministers to implement 2008 law requiring handicap access to health facilities

Remarkably, it is identical to the equation in physics that determines how pollen grains diffuse through water. Intellectual connections such as these are why so many physicists are interested in problems in finance and, in part, why so many have been recruited into the financial sector. It also helps that physicists tend to be good at computer modelling and working with large data sets. The March 2013 edition of Nature Physics was devoted to the latest academic research into the links between physics and finance.

Why do physicists gravitate towards jobs in finance?

On Thursday, Finance Minister Yair Lapid and Health Minister Yael German approved guidelines to make health services accessible. The law passed in 2008 included specific guidelines to implement accessibility. Orli Boni, the chief occupational therapist of the Health Ministry, told The Jerusalem Post that even before the law was passed, health facilities were encouraged to start making changes in health fund clinics, hospitals and other facilities so the disabled could receive the health services. The lag time in implementation came because each guideline is debated in the Knesset by committees.


Posted on 23/7/2013 at 11:42

Further Progress on Housing Finance

Hensarling Housing Finance Plan: A Welcome Step Toward Solving the Fannie and Freddie Mess

The Hensarling bill includes changes that would address this situation. Mortgage interest rates will rise with any overhaul that brings in private capital, but this reflects that the system is now undercapitalized with taxpayers at risk. Before the financial crisis, private-label mortgages bundled into securities without a then-implicit guarantee provided by Fannie and Freddie had interest rates from 0.5 to 1 percentage point higher than loans backed by the two government-sponsored enterprises. It is hard to know quite how much rates would rise without a government backstop, but the housing market is in an upswing and affordability remains high, so it seems likely that the housing sector would continue to recover even with higher rates from both changes in housing finance and the Federal Reserves eventual normalization of monetary policy. The proposal for a fully private system contrasts with the bipartisan legislation introduced a few weeks ago by Senators Bob Corker, Republican of Tennessee, and Mark Warner, Democrat of Virginia, in which a government guarantee would kick in on covered mortgage-backed securities after private investors have first taken losses equal to 10 percent of the value of mortgages receiving the guarantee.

The new entity would not receive any federal government guarantees and would be barred from issuing securities. Participation in the NMMU would be voluntary. Covered Bond Financing Structure. In addition to the open-access securitization platform operated by the NMMU, the Hensarling plan would establish a framework in U.S.


Posted on 23/7/2013 at 05:31

Finance officials plan special meeting

In May the Board of Finance approved a $447 million gross tax levy, setting the average tax increase at 3.41 percent. Elected officials from the Board of Representatives have also raised questions about the 2012 property revaluation's effect on this summer's tax bills. City Rep. Mary Uva , R-1, said her residents in Shippan and the Cove are struggling to understand their massive tax increases. "On my street most of us are looking at about 18 percent tax increases," Uva told the board's fiscal committee last month.

Finance c'tee readies NIS 400b. budget for Knesset approval

The committee increased property tax to 6% from 5%, which was agreed to in principle in earlier discussions, and lowered the maximum tax exemptions on the lottery to NIS 50 million, which is expected to net the government some NIS 10m. a year. The committee found some extra cash in its adjustment budget, a pile of cash set aside in two-year budgets to fill unexpected spending gaps. Whereas the 2010-2011 budget allotted NIS 1.6b.


Posted on 22/7/2013 at 23:19

Chinese economy set to turn around, no hard landing: finance minister

Peshawar?s top colleges: Self-finance admissions galore

"We see domestic power generation and electricity consumption increased by 4 percent, and the service industry's usage of electricity increased 8 percent," Lou said, arguing that the increases showed efforts to shift China's economy towards services from manufacturing were bearing fruit. "None of my fellow delegates think China is going to have a hard landing." The interview was published late on Saturday, a day after Beijing announced it would remove the floor under bank lending rates in a move to free up interest rates, which planners hope will put China's economy on a more sustainable growth path. Lou said China would continue tax reforms to promote growth, in particular by converting sales taxes to value-added taxes (VAT), while cutting down on paperwork and application requirements for Chinese businesses. His views were more mixed on the country's real estate industry, which regulators and economists fear is distorted by speculation and fuels inflation. The industry should play a "normal" role in economic development, he said, adding that its place in China's urbanization project required further study.

Islamia College Peshawar, which is celebrating 100 years of its foundation, is the constituent college of Islamia College University, while Jinnah College for Women, established in 1960, is the constituent college of University of Peshawar. The outstanding results of the ICP and JCW students in intermediate examinations are the major attraction for the people, who want to admit their children to these prestigious institutions. Most students of the two colleges get admission to medical and engineering colleges for having high marks. However, the limited number of seats on open merit every year disappoints thousands of students for being denied admission. JCW has 70 seats for Part-I of pre-medical group and 20 seats for Part-I of pre-engineering on open merit, according to the collegeas prospectus.

Further Progress on Housing Finance

The legislation further seeks to ensure that smaller banks continue to play a role in housing finance. The Hensarling approach thus has the desirable features of moving to a housing finance system driven by private incentives while protecting taxpayers and ensuring the participation of banks of all sizes. The government role in the new system would be sharply defined, with regulators focused on oversight and setting standards rather than providing insurance. The Federal Housing Administration would continue to guarantee mortgages under the Hensarling proposal but would focus on first-time home buyers with moderate incomes. Currently, the Federal Housing Administration is involved with loans of up to $729,750, which is difficult to square with the agencys mission to expand sustainable homeownership.


Posted on 21/7/2013 at 12:34

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