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Aug202013

Fate of Polish finance minister not known until November: deputy PM








Northstar Realty Finance's Series D Preferred Stock Shares Cross 9% Yield Mark




NRF.PRD+Dividend+History+Chart

Credit: Reuters/Peter Andrews WARSAW | Sun Aug 18, 2013 3:03pm EDT WARSAW (Reuters) - Polish Prime Minister Donald Tusk will not decide whether to replace his finance minister until November, at the earliest, Deputy Prime Minister Janusz Piechocinski said on Sunday. Sources told Reuters on Friday Tusk was planning to dismiss Finance Minister Jacek Rostowski as part of a major cabinet reshuffle planned in a few months' time to help rebuild the flagging support for the ruling Civic Platform party. "In my opinion, whether Minister Rostowski will remain in the government will be decided in November at the earliest," Piechocinski told public radio. State television broadcaster TVP quoted a government spokesman as saying reports of Rostowski's departure were mere speculation and no decisions about individual ministers would be made until the middle of the government's four-year term, which started in November 2011. Rostowski has been Poland's finance minister for six years, making him the country's longest-standing finance chief since the end of Communism in 1989.









Finance dept turns down proposal okayed by CM






This compares to an average yield of 7.26% in the Real Estate preferred stock category, according to Preferred Stock Channel . As of last close, NRF.PRD was trading at a 4.04% discount to its liquidation preference amount, versus the average discount of 4.20% in the Real Estate category. Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com The chart below shows the one year performance of NRF.PRD shares, versus NRF: Below is a dividend history chart for NRF.PRD, showing historical dividend payments on Northstar Realty Finance Corps 8.500% Series D Cumulative Redeemable Preferred Stock:










The official said Sheikhupura Health Executive District Officer Dr Rana Imran Ali had expressed his concern regarding high incidence of dengue virus in the district, urging immediate activation of PCPE there. Dr Ali also recommended that the posts should be created in all categories on the pattern adopted for Lahore district. Earlier, as many as 1,818 vacancies were created under PCPE for the five districts -- Lahore, Gujranwala, Multan, Rawalpindi and Faisalabad -- which were declared high-risk for the dengue epidemic. The official said the chief minister accorded approval for creation of 438 vacancies in various categories for Sheikhupura for effectively controlling the menace there. He said the finance department called an aemergenta meeting to weigh the proposal the same day that was also attended by Additional Director General of the Epidemic Prevention and Control (EP&C) Dr Jafar Ilyas.




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Aug192013

Finance minister leaves Rudd on a limb over NT tax cut








Ethica Launches Master Class Series to Teach AAOIFI's Islamic Finance Standards






AAP/Lukas Coch Finance Minister Penny Wong has pointedly refused to endorse Kevin Rudds declaration that he would like to see company tax drop by one third in the Northern Territory. Asked repeatedly on Sky about the PMs personal objective of having the rate about a third lower, Wong said Im not going to be drawn on that. She said the government had said it wanted a tax benefit for the NT and Rudd had indicated his preference for a cut by a third. There would be a five-year-process to consider the issue. Im not going to pre-empt those discussions. The reduction would not come in before 2018, beyond the forward estimates, so was not costed.










The University of Canberra

AAOIFI is the Accounting and Auditing Organization for Islamic Financial Institutions and the de facto standard in 90% of the world's Islamic finance jurisdictions. Ethica's spokesperson said, "Professionals want practical knowledge, not theory. Learning AAOIFI standards from a practitioner who has years of experience of actually working inside an Islamic financial institution gives one an immense advantage over untrained and uncertified peers. Competition for the fewer jobs available in the current Islamic finance market means that we are seeing more professionals turn to institutes for practical knowledge, certification, and career advancement." The Dubai-based institute's clients include large institutions like Mashreq Bank which trained 1,000 employees using Ethica, Abu Dhabi Islamic Bank, and La Trobe University.







Polish PM plans to replace Finance Minister Rostowski within months: sources






Mucha is Poland's sports minister, while Korolec leads the environment ministry. "This will probably happen in a few months' time, so in the meantime (Rostowski) can finish the ongoing budget revision for 2013 and deal with the next year's budget bill," the source in the government also said. The finance ministry did not respond to phone calls nor emails seeking comment. Earlier in August, the government's spokesman, Pawel Gras, said there were no indication that Rostowski's fate in the government would be in danger.




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Aug192013

Barclays Finance Chief Resigns Earlier on Health Reasons








Fate of Polish finance minister not known until November: deputy PM






Whilst I am saddened that his health has forced this decision on him sooner than either of us would have wished, I respect his decision and wish him well in the future, Barclays Chairman David Walker said in the statement. He has successfully navigated Barclayss finances through one of the most difficult periods in its history. Lucas, the last of former Chief Executive Officer Robert Diamond s senior managers to depart, is leaving ahead of a planned 5.8 billion-pound ($9 billion) rights offering, which stands to be the biggest by a U.K. bank since Lloyds Banking Group Plc (LLOY) s 13.5 billion-pound sale in 2009. CEO Antony Jenkins , 52, is selling the shares after financial regulators identified a 12.8 billion-pound capital hole at the bank.









Polish PM plans to replace Finance Minister Rostowski within months: sources




Credit: Reuters/Peter Andrews WARSAW | Sun Aug 18, 2013 3:03pm EDT WARSAW (Reuters) - Polish Prime Minister Donald Tusk will not decide whether to replace his finance minister until November, at the earliest, Deputy Prime Minister Janusz Piechocinski said on Sunday. Sources told Reuters on Friday Tusk was planning to dismiss Finance Minister Jacek Rostowski as part of a major cabinet reshuffle planned in a few months' time to help rebuild the flagging support for the ruling Civic Platform party. "In my opinion, whether Minister Rostowski will remain in the government will be decided in November at the earliest," Piechocinski told public radio. State television broadcaster TVP quoted a government spokesman as saying reports of Rostowski's departure were mere speculation and no decisions about individual ministers would be made until the middle of the government's four-year term, which started in November 2011.








Barclays CFO Chris Lucas

The Sullamussalam Science College at Areacode, affiliated to the Calicut University, has become the first college in the state to offer a three year degree course in BA Islamic Finance from this academic year onwards. "With the state government itself leading the state's foray into Islamic finance, the sector is bound to throw open numerous employment opportunities for people who can manage Islamic financial institutions," Prof. N V Abdurahiman, Manager of the Sullamussalam Science College. He said that the proposal submitted by the college for starting BA in Islamic Finance was accepted for funding by the UGC under the 'innovative programmes for teaching and research in interdisciplinary and emerging areas'. The course, which is the first formal degree level programme in the state, has seen over 100 applicants for the 25 seats which were on offer this year.







Islamic finance courses create a buzz in Malabar






"This will probably happen in a few months' time, so in the meantime (Rostowski) can finish the ongoing budget revision for 2013 and deal with the next year's budget bill," the source in the government also said. The finance ministry did not respond to phone calls nor emails seeking comment. Earlier in August, the government's spokesman, Pawel Gras, said there were no indication that Rostowski's fate in the government would be in danger. But the other two sources, who are not members of the government but are in regular contact with senior policymakers, both said independently Tusk was planning to let Rostowski go within several months. Rostowski has been Poland's finance minister for six years, making him the country's longest-standing finance chief since the end of Communism in 1989.




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Aug192013

Islamic finance courses create a buzz in Malabar











There are many other institutions in Malappuram and Kozhikode which have recently started offering similar courses sensing the growing interest in the field. Kozhikode: Islamic finance is yet to take roots in the financial landscape of the country, but several Muslim management run educational institutions in Malabar have gone a step ahead and have started offering specialized courses anticipating huge requirements for qualified personnel to man the future Sharia compliant finance sector. Courses on Islamic finance and banking have been finding many takers in the region ever since the state government set in motion its plan to start an Islamic financing institution two years back. The growing student interest has been fuelled by hopes that the niche sector would offer job opportunities for those well versed in Riba-free Islamic financial and economic system.







ING Real Estate Finance Announces Sale of USD 1.6 Billion of U.S. Commercial Real Estate Loans to Wells Fargo Bank, N.A.






property-lending business. "This divestment is a result of the successful execution of our strategy to capitalize on current robust U.S. market conditions to generate strong interest in the loan portfolio among a high-quality pool of potential buyers," said Michael Shields, Managing Director and Head of ING Real Estate Finance Western Europe, UK, USA and Structured Products. "As ING sharpens the focus of its Real Estate Finance business, we will continue to deliver tailored real estate financing solutions in our other Real Estate Finance markets." "As the number one commercial real estate lender in the U.S., adding high-quality, performing loans to our portfolio is consistent with our business strategy and risk management practices," said Mark Myers, Head of Commercial Real Estate at Wells Fargo. "Many of our existing customers have loans in this portfolio as well, and we look forward to meeting the needs of those customers while strengthening our Commercial Real Estate business through this acquisition." Morrison & Foerster LLP served as counsel to ING Real Estate Finance in the transaction, while Dechert LLP served as counsel to Wells Fargo Bank, N.A.







City finance commissioner moves to Metropolitan Council on Jewish Poverty




Model Marlena becomes a living, breathing work of art thanks to Andy Golubs, who featured her in his new book, ?Only in New York.?

No other candidate in the six-way council race landed the extra money. Santos called the Mark-Viverito payout unfortunate. The Matching funds program is a great opportunity for people like myself who want to run for office, Santos said. I am not independently wealthy. Taxpayers pay city candidates $6 for every dollar they raise. The cap is set at $175 per donation, which turns into $1,225 when the matching funds are added into the equation.







Councilwoman Melissa Mark-Viverito lands bonanza payout from city Campaign Finance board




Model Marlena becomes a living, breathing work of art thanks to Andy Golubs, who featured her in his new book, ?Only in New York.?

Related Stories Readers sound off on July 4th fireworks, MTA steel and Michael Jackson The city finance commissioner is leaving his post to take over the scandal-scarred Metropolitan Council on Jewish Poverty. At the end of September, David Frankel is slated to replace William Rapfogel, 58, who last week was fired from the nonprofit organization he headed for 21 years amid allegations of financial shenanigans. The Met Council did not immediately reveal what Frankels salary would be. Rapfogel, who made $417,000 a year, was canned after the Mets board found financial irregularities under his tenure. Rapfogel is believed to have purchased insurance policies at inflated prices using the Met Councils money and then received kickbacks from the agent, Century Coverage Corp., a source said.




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Categories: First category
Aug192013

Islamic finance courses create a buzz in Malabar











There are many other institutions in Malappuram and Kozhikode which have recently started offering similar courses sensing the growing interest in the field. Kozhikode: Islamic finance is yet to take roots in the financial landscape of the country, but several Muslim management run educational institutions in Malabar have gone a step ahead and have started offering specialized courses anticipating huge requirements for qualified personnel to man the future Sharia compliant finance sector. Courses on Islamic finance and banking have been finding many takers in the region ever since the state government set in motion its plan to start an Islamic financing institution two years back. The growing student interest has been fuelled by hopes that the niche sector would offer job opportunities for those well versed in Riba-free Islamic financial and economic system.







ING Real Estate Finance Announces Sale of USD 1.6 Billion of U.S. Commercial Real Estate Loans to Wells Fargo Bank, N.A.






property-lending business. "This divestment is a result of the successful execution of our strategy to capitalize on current robust U.S. market conditions to generate strong interest in the loan portfolio among a high-quality pool of potential buyers," said Michael Shields, Managing Director and Head of ING Real Estate Finance Western Europe, UK, USA and Structured Products. "As ING sharpens the focus of its Real Estate Finance business, we will continue to deliver tailored real estate financing solutions in our other Real Estate Finance markets." "As the number one commercial real estate lender in the U.S., adding high-quality, performing loans to our portfolio is consistent with our business strategy and risk management practices," said Mark Myers, Head of Commercial Real Estate at Wells Fargo. "Many of our existing customers have loans in this portfolio as well, and we look forward to meeting the needs of those customers while strengthening our Commercial Real Estate business through this acquisition." Morrison & Foerster LLP served as counsel to ING Real Estate Finance in the transaction, while Dechert LLP served as counsel to Wells Fargo Bank, N.A.







City finance commissioner moves to Metropolitan Council on Jewish Poverty




Model Marlena becomes a living, breathing work of art thanks to Andy Golubs, who featured her in his new book, ?Only in New York.?

No other candidate in the six-way council race landed the extra money. Santos called the Mark-Viverito payout unfortunate. The Matching funds program is a great opportunity for people like myself who want to run for office, Santos said. I am not independently wealthy. Taxpayers pay city candidates $6 for every dollar they raise. The cap is set at $175 per donation, which turns into $1,225 when the matching funds are added into the equation.







Councilwoman Melissa Mark-Viverito lands bonanza payout from city Campaign Finance board




Model Marlena becomes a living, breathing work of art thanks to Andy Golubs, who featured her in his new book, ?Only in New York.?

Related Stories Readers sound off on July 4th fireworks, MTA steel and Michael Jackson The city finance commissioner is leaving his post to take over the scandal-scarred Metropolitan Council on Jewish Poverty. At the end of September, David Frankel is slated to replace William Rapfogel, 58, who last week was fired from the nonprofit organization he headed for 21 years amid allegations of financial shenanigans. The Met Council did not immediately reveal what Frankels salary would be. Rapfogel, who made $417,000 a year, was canned after the Mets board found financial irregularities under his tenure. Rapfogel is believed to have purchased insurance policies at inflated prices using the Met Councils money and then received kickbacks from the agent, Century Coverage Corp., a source said.




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Categories: First category

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