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Jul142013

Finance ministry wants cap on natural gas price









As revenues dry up and debt bloats, telcom cos scramble for capital

"We have forwarded concerns of the stakeholders to the oil ministry as suggestions," he said. The Cabinet Committee on Economic Affairs on June 27 approved pricing of all domestically produced natural gas from April 1, 2014 at an average of the prices of imported liquefied natural gas (LNG) into India and the weighted average of gas prices in North America , Europe and Japan. The price effective for April 1, 2014 is estimated at around $8.40 per mmBtu, double the price of $4.20 for current gas sales from RIL's KG-D6 block. This rate is to change every quarter based on international prices and there are concerns that leaving the formula open-ended may result in prices rising to $10 to 12 in the near future.







RPT-Fitch rates MPM Finance at 'A-(idn)'; outlook stable






Stable prospects. National Long-term rating 'A-(idn)' reflects Fitch's expectation that MPM Finance would receive support from its parent company, PT Mitra Pinasthika Mustika Tbk (MPM; 'A (idn)' / Stable), if required. Rating considerations Fitch's view of the magnitude of trend is based on the support of MPM Finance for strategic interests MPM MPM binis vehicle. This is supported with 100% ownership of the MPM MPM Finance (62.82% is owned by no Rent directly through the MPM, which is owned by MPM). As part of binis automotive MPM, MPM Finance has an important role to provide services car financing.




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Jul142013

Flaherty's time as finance minister may be over, but any successor faces PM oversight











Staying on as finance minister also has its pitfalls, as the economic recovery remains sluggish and the government tries to eliminate a deficit estimated at $18.7 billion. "From everything he says, he wants to go out with a balanced budget, but it's ... difficult to see how he's going to pull that off (if he remains in finance)," said Mike Moffatt, a business and economics professor at Western University's Ivey Business School. Flaherty has spent much of his time as minister trying to pull federal finances out of the red following a global economic downturn. He has presided over the Canadian economy during the largest crisis since the Great Depression, helped manage a spending splurge from the stimulus program, and then was forced to slash billions in expenditures in an effort to balance the books.














Finance office a 'chaotic mess'






He spoke yesterday at the U.S.- China Strategic and Economic Dialogue in Washington . The nations broadest measure of credit fell to a 14-month low in June during an interbank cash squeeze, central bank data showed today. Lous comments suggest China is prepared to allow a further slowdown from a rate thats already at risk of falling to a 23-year low this year as Premier Li Keqiang focuses on policy changes to create more sustainable expansion. Li said this week that the government should keep restructuring the economy as long as growth, employment and inflation stay within limits he didnt specify.







China Can Endure Growth Slowdown to 6.5%, Finance Chief Says




Investors Should Reset Ambitions on China

A third set moved funds within the building and grounds budget. End-of-year line-item transfers are conducted annually and allowed by Mass General Laws. Finance Director Consultant David Genereux of Baystate Municipal Accounting Group said Wenhams Finance and Advisory Committee (FinCom) was to look at what will likely be the final transfers at their meeting on July 9. Whittaker suggested the Selectmen look into the cost of streetlights in town.




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Jul142013

Finance Latest News: As Earnings Take Over, Fundamentals to Be Tested








Progress on Housing Finance Reform






That amounted to repeating the official target set in March for the world's second largest economy when the new government took office. A top U.S. central banker said the Federal Reserve should keep buying bonds at the current pace until inflation rises back up toward the 2-percent target. The remarks illustrate how divided the Fed is on its quantitative easing program.












Indeed, in the past, proponents of reform were sometimes derided as being anti-housing for supposedly wishing for higher interest rates. The crisis has mostly silenced this criticism, with broad agreement that reform must involve greater private capital to take losses ahead of any potential government backstop. The Corker-Warner proposal requires investors to put at risk funds equal to 10 percent of the value of the mortgages included in mortgage-backed securities to be guaranteed by the government. The total losses of Fannie and Freddie during the crisis were equal to about 4 percent of the firms combined assets. The firms were shielded by homeowner down payments and by private mortgage insurance before they had to make good on their guaranteed securities, but the housing price collapse of more than 30 percent combined with concentrations of Fannie and Freddies risk in key bubble states such as Nevada combined to generate losses that wiped out the firms thin capital cushions of less than 1 percent of their assets. With a 10 percent capital requirement, the firms would easily have made it through the worst housing cycle in recent memory. To be sure, a 10 percent capital requirement is not the same as the 100 percent in a fully private system. But a fully private system is neither feasible nor stable.




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