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Aug242013

Finance Ministry seeks cabinet nod for stuck infra projects








RBI allows non-bank Islamic finance firm






"You have to understand that once the regulatory clearances come, it will take around six months to have some actual ground level movement," an executive director with a state-run bank said. "And banks will not disburse further until there is some development." Banks have so far disbursed 51,546 crore to the 20 identified big-ticket projects. Since April, the finance minister has held review meetings with bankers and promoters in all major cities on the issue. The ministry has also directed banks to take up the concerns in their state-level banker committee meetings for better co-ordination among themselves and the state governments.







Wharton-Habitat Housing Finance Course at Asia-Pacific Housing Forum






One in eight still lives in a slum in the region; so there is tremendous scope for collaboration between governments, businesses and civil society to improve the situation," said Rick Hathaway, Vice President for Asia-Pacific, Habitat for Humanity International. He added: "The traditional approach to tackling poverty housing by simply building more homes is one dimensional and limiting. Solving the problem requires addressing affordability of housing finance, climate change and disaster resiliency, land rights inequality, infrastructure planning, basic services provision, sustainable livelihoods, and adoption of green solutions. These are touch points that will be up for discussion at the forum." Among the confirmed participants are key policy makers, business titans, and thought leaders from humanitarian agencies and research institutions. They include Jejomar Binay, Philippine Vice President; Alicia Bala, Deputy Secretary of ASEAN; Senator Loren Legarda, member of Philippine Senate; Henry Cisneros, former US Housing Secretary and Founder/Chairman of CityView; Nestor Espenilla, Deputy Governor, Bangko Sentral ng Pilipinas; Mr.








Finance Ministry seeks cabinet nod for stuck infra projects

RBI's attitude towards the sharia-compliance concept is yet to be tested," said Shariq Nisar, director of research and operations at Mumbai-based Taqwaa Advisory and Shariah Investment Solutions. Running a sharia-compliant financial institution under Indian regulations is still difficult and other firms are likely to stay on the sidelines pending the success of existing schemes before deciding to join in, he added. Islamic equity and venture capital products have attracted little demand in India and NBFCs could face the same fate, said Nisar. "NBFC business overall has been declining over the years." The RBI issued guidelines for NBFCs in June, cracking down on debt issuance by an industry that relies heavily on capital markets to fund its business but has faced less regulatory oversight than banks.




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Aug222013

Atlas Air, Gilead Sciences and NYC Finance Department Named Pinnacle Award Finalists for Treasury Excellence








Maharashtra finance department launches austerity drive






Gilead Sciences' eight-member treasury team automated many manual processes, including multiple, unstandardized wire platforms. Along the way to improving real-time visibility into cash balances, the treasury team adopted new technology in less than eight months for more than 130 bank accounts in 30 countries with $2 billion in investments and $3.5 billion in foreign currency. The New York City Finance Department centralized data for bills and payments and improved speed, accuracy and customer service by creating the first city agency solely responsible for payments expertise, policy and procurement, providing guidance and services to agencies needing payment solutions.As the department developed fast, affordable and reliable electronic payments functionality to collect $49 billion of receipts generated by 36 individual agencies totaling 29 million individual payments, it also strengthened regulatory compliance. ABOUT AFP The Association for Financial Professionals (AFP) is the professional society that represents finance executives globally. Headquartered outside Washington, DC, AFP sets the standards for the Certified Treasury Professional and Certified Corporate FP&A Professional credentials.















Maharashtra's debt burden on March 31, 2013 was Rs 2.46 lakh crore. It is estimated to balloon to Rs 2.7 lakh crore by March 31, 2014. The letter urged all departments to wake up to financial realities and recognize that the state has limited resources. It exhorted departments to undertake cost-cutting exercises to maintain fiscal balance. The instruction comes at a time when the Democratic Front government is facing flak for cost escalations in irrigation projects.




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Aug222013

Democrat Seeks Tea-Party Support in Campaign Finance Lawsuit








KKR Forms Maritime Finance Company






Outside political spending has exploded since the decision, as have the number of groups seeking 501(c)4 status. More than 3,200 groups sought the status in 2012, as opposed to 1,735 in 2010. Van Hollen said that his primary goal in the suit was campaign finance transparency, but he hoped that the suit's ancillary consequences could pull in allies from the opposite end of the political spectrum. Congressional Republicans have been outraged over the IRS's campaign finance role since the agency admitted earlier this year that some of its employees had used criteria that targeted tea-party groups seeking 501(c)4 status for closer scrutiny. Van Hollen rejected Republicans' claim that the IRS was engaged in politically motivated attacks, echoing Democrats' recent claims that liberal groups were also in the agency's crosshairs.








About MCS MerchCap Solutions (MCS) is a merchant banking enterprise that provides a full range of principal and agency-based capital markets services to mid-market and sponsor-backed companies. The company offers debt and equity underwriting, syndication and advisory solutions to its clients across the capital structure. The company also makes certain principal investments to support client capital raising needs. MCS is a venture between the Canada Pension Plan Investment Board, Stone Point Capital (through its Trident V fund) and KKR Capital Markets Holdings.







Consumer Finance Company Announces Open House Event in the Houston Area






Candidates must be able to use a personal vehicle. Salary: Individuals can earn up to $25,000 as a customer service representative and typically get promoted within 6-12 months. To learn more about a career with TMX Finance, visit TitleMax Careers today. About TMX Finance TMX Finance is one of the largest and fastest growing consumer finance companies in the United States. Our family of brands includes TitleMax, TitleBucks, EquityAuto Loan, Auto Cash, TMX Credit and InstaLoan.




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Aug202013

Introducing ?Government Finance Quasi-Capitalism?








RBI allows non-bank Islamic finance firm






I never imagined four years later the Fed would resort to $85bn monthly monetary inflation with similar amounts from the Bank of Japan - in a non-crisis environment. The Fed went from preparing exit strategies with its assets at $2.5 TN to providing market assurances of no exit with its balance sheet on the way to $4.0 TN. After doubling mortgage debt in about six years, our system then doubled federal debt in four. I never imagined this amount of non-productive debt could be issued at historically low market yields. Instead of protesting, exuberant markets fell in love with reflationary measures.










Pierre, left, is parish Finance Director Grant Dussom. ( ) View/Post Comments The St. Charles Parish Finance Department has been recognized by The Government Finance Officers Association of the United States and Canada. For the third consecutive year, the association has presented the St.














The Morning Ledger: Ex-Finance Official?s Job Switch Makes Waves in Delaware






But some companies, especially in Kerala which has a large Muslim population and an overseas diaspora of workers who remit money back from the Gulf, are nevertheless trying to develop Islamic financial products outside the banking sector. Cheraman Financial Services, based in Kochi, plans to offer leasing and equity-finance products under Islamic principles. It said it had obtained approval to operate from the RBI and would follow the Islamic ban on interest; it will not take deposits from customers. "We propose to roll out the products by the end of August," a spokesman for Cheraman, formerly known as Al Barakah Financial Services, told Reuters. He did not elaborate on the design of the products.







St. Charles Parish Finance Department honored with Distinguished Budget Presentation Award






companies mentioned the effects of the currency swings on their financial resultsboth positive and negativein their most recent quarterly earnings calls, Murphy says, including Cummins, Cognizant Technology Solutions, Starwood Hotels & Resorts and Manitowoc. For companies with factories and customer-service call centers in India, continued weakness should have a tonic effect on results as their overhead costs become lower when converted into dollars. But for companies that sell their wares in India, revenue will translate into fewer dollars. Many CFOs have already been dealing with the steady decline in the values of the Japanese yen and Brazilian real, this year off 12% and 15%, respectively, against the dollar. CORPORATE NEWS: Cash-poor companies feed hunger for happy meal bonds.




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Categories: First category
Aug202013

Introducing ?Government Finance Quasi-Capitalism?








RBI allows non-bank Islamic finance firm






I never imagined four years later the Fed would resort to $85bn monthly monetary inflation with similar amounts from the Bank of Japan - in a non-crisis environment. The Fed went from preparing exit strategies with its assets at $2.5 TN to providing market assurances of no exit with its balance sheet on the way to $4.0 TN. After doubling mortgage debt in about six years, our system then doubled federal debt in four. I never imagined this amount of non-productive debt could be issued at historically low market yields. Instead of protesting, exuberant markets fell in love with reflationary measures.










Pierre, left, is parish Finance Director Grant Dussom. ( ) View/Post Comments The St. Charles Parish Finance Department has been recognized by The Government Finance Officers Association of the United States and Canada. For the third consecutive year, the association has presented the St.














The Morning Ledger: Ex-Finance Official?s Job Switch Makes Waves in Delaware






But some companies, especially in Kerala which has a large Muslim population and an overseas diaspora of workers who remit money back from the Gulf, are nevertheless trying to develop Islamic financial products outside the banking sector. Cheraman Financial Services, based in Kochi, plans to offer leasing and equity-finance products under Islamic principles. It said it had obtained approval to operate from the RBI and would follow the Islamic ban on interest; it will not take deposits from customers. "We propose to roll out the products by the end of August," a spokesman for Cheraman, formerly known as Al Barakah Financial Services, told Reuters. He did not elaborate on the design of the products.







St. Charles Parish Finance Department honored with Distinguished Budget Presentation Award






companies mentioned the effects of the currency swings on their financial resultsboth positive and negativein their most recent quarterly earnings calls, Murphy says, including Cummins, Cognizant Technology Solutions, Starwood Hotels & Resorts and Manitowoc. For companies with factories and customer-service call centers in India, continued weakness should have a tonic effect on results as their overhead costs become lower when converted into dollars. But for companies that sell their wares in India, revenue will translate into fewer dollars. Many CFOs have already been dealing with the steady decline in the values of the Japanese yen and Brazilian real, this year off 12% and 15%, respectively, against the dollar. CORPORATE NEWS: Cash-poor companies feed hunger for happy meal bonds.




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Categories: First category

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