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Aug032013

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








Finance Ministry launches manual on composite budgeting




Ministry of Finance

While no nation will be immune to the impacts of climate change, the distribution of impacts will likely be unequally tilted against many of the worlds poorest regions that lack the economic, institutional and technical capacity to adapt to the repercussions of the climate change. Some of the challenges to humanity will include the rise of sea-level to 15% and 20% in the tropics; increases in tropical cyclone intensity felt in low-latitude regions; and increasing aridity and drought in many developing country regions located in the tropical. Thus the level of impacts that developing countries and the rest of the world experience will be a result of government, private sector, and civil society decisions and choices, including, unfortunately, inaction, summarized in the report. Forbes Asia attended the Global Green Growth Summit in Songdo, Incheon, an annual event focused on Green Growth, to find out more about the future of green growth: finance, innovation and policy. I managed to catch up with Vikram Widge, Head of Climate Finance and Policy at the International Finance Corporation to discuss the combination of finance, innovation and policy working together to make impact in climate change.







GE Capital Retail Finance Celebrates 80 Years of Consumer Financing






Meanwhile William Thompson was dealing with a completely separate financial issue. Thompson, under pressure, released previous years' tax returns. "It was just getting a hold of them and getting my tax returns, getting them in and going through them, making sure that we're releasing exactly what we should be," Thompson said. Those returns showed that from 2010 to 2011, his income jumped from approximately $200,000 to more than $730,000. After the salary jump, Thompson did not give any cash to charity.







Campaign Finance Board Aims To Block Liu's Funds






The BJP leaders agreed to support routine and necessary financial business but indicated that the party will continue to oppose further opening of the insurance and pension sectors to foreign direct investment (FDI). "He (Chidambaram) came to discuss financial legislation that the government plans to bring in the monsoon session. There was agreement on some suggestions made by the Finance Minister, but disagreement on others," BJP spokesman Shahnawaz Hussain said. In the insurance sector, the government proposes to increase the FDI cap to 49 per cent from 26 per cent, which the BJP opposes.










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. More information can be found at www.gogecapital.com and twitter.com/GoGECapital . GE Capital is one of the worlds largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance.







Finance Minister P Chidambaram seeks support on Insurance, Pension bills






At the maiden conference for MMDA budget officers in Accra, a Deputy minister of finance, Mr Kwaku Ricket Hagan, explained that the various reforms by the ministry was to deal with challenges of public financial management to put such systems on a sound footing and propel the country for growth and also move it from the present low middle income status into a higher middle income bracket. He said the government was committed to ensuring that resources for decentralised functions were transferred through the composite budget process to MMDAs to improve service delivery. I assure you that government is taking the necessary steps to ensure that resources are disbursed in a more predictable and timely manner, he said. According to Mr Hagan, the ongoing fiscal decentralisation reforms which entailed entrusting the assemblies with the authority and capacity to generate, allocate and utilise financial resources to promote socio- economic development of the districts would not make any meaning unless the lapses in financial management at the MMDA level were addressed.




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Aug032013

NorthStar Realty Finance Declares Second Quarter Common Stock Dividend











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. He also said that the foreign direct investment policy would be liberalized beyond just big box retail and airlines currently as the government tries desperately to bring in money from abroad. Meanwhile, the FinMin did the usual cheerleading, saying he was confident the government could finance the current account deficit now nearly 5% this year without pulling money out of Indias foreign cash reserves. India has $279 billion in foreign reserves as of July 19, according to the Reserve Bank of India. Emerging market countries often use reserves to fend off speculative attacks against its currency, and to provide a cushion against external debt service.









Michigan Finance Authority revenue notes rates SP-1 -S&P






( NRF ) ("NorthStar") today announced that its Board of Directors has declared a cash dividend of $0.20 per share of common stock, payable with respect to the quarter ended June 30, 2013, representing a 100% increase over the last eight quarters. The dividend is expected to be paid on August 16, 2013 to shareholders of record as of the close of business on August 12, 2013. NorthStar's common shares will begin trading ex-dividend on August 8, 2013. About NorthStar Realty Finance Corp. NorthStar Realty Finance Corp. is a diversified commercial real estate investment and asset management company that is organized as an internally managed REIT. For more information about NorthStar Realty Finance Corp., please visit www.nrfc.com . @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module. You need to enable your browser cookies to view your most recent quotes.










The schools' management said it ended fiscal 2013 with a $6 million deficit but expects to report a surplus of approximately $6 million in 2014 due to school closures and possible midyear budget cuts, S&P said. "The rating reflects a pledge of all state aid to be appropriated by the state of Michigan to the Detroit Public Schools starting with fiscal 2014," the rating company said. The Detroit Public Schools enrollment could fall by as much as 33 percent, and state aid will be sufficient to cover debt service, according to S&P.




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Aug032013

Siemens appoints finance chief Kaeser as CEO








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






Finance Sat, Aug 3, 2013, 1:32 AM EDT - U.S. Markets closed Siemens appoints finance chief Kaeser as CEO Germany's Siemens appoints longtime finance chief Joe Kaeser as CEO, replacing Peter Loescher By Geir Moulson, Associated Press | Associated Press Wed, Jul 31, 2013 7:50 AM EDT View Photo The logo of German industrial conglomerate Siemens is pictured outside their headquarters in Munich, southern Germany, Wednesday, July 31, 2013. Siemens AG has appointed longtime finance chief Joe Kaeser as its new chief executive, replacing Peter Loescher after a series of missed profit targets at the German industrial conglomerate. Siemens said its supervisory board unanimously chose the 56-year-old Kaeser on Wednesday. (AP Photo/Matthias Schrader) RELATED QUOTES 83.719 -0.481 BERLIN (AP) -- Siemens appointed finance chief Joe Kaeser as its new chief executive on Wednesday, handing a manager with over 30 years' experience at the industrial conglomerate the task of improving its fortunes after missed profit targets led to the departure of predecessor Peter Loescher.










(note these donors are mentioned as examples, and the candidate is not required to have experience with all of them) Experience of reviewing, writing and presenting project proposals and formal applications to institutional donors Experience of institutional donor contract management (reporting, dealing with compliance issues, donor correspondence etc) Extensive experience of implementing financial management and procedures, including managing cash and bank accounts, control of finance systems including balance sheets, and processing transactions. Experience of financial management in a donor environment including the development and management of budgets and reporting to donors. Understanding of financial security issues and how to develop appropriate guidelines Understanding of cash control and cash flow processes Proven experience of analyzing expenditure and other financial information Experience of writing narrative and financial reports Good training skills and experience, and a commitment to national and expatriate staff capacity development Strong communication skills, with excellent written and spoken English Good experience of financial systems, such as PSF, Sun Confident and proficient in the use of MS Office, particularly Excel and Word Experience of establishing strong working relationships with colleagues from different functions and cultures Experience of a flexible approach to managing and prioritizing a high workload and multiple tasks in a fast paced environment with tight deadlines Desirable Qualifications, experience and competences Knowledge of a second language - French and/or Arabic Experience of a similar role in an emergency setting (i.e. conflict areas, natural disaster response, etc) Experience of working to, and developing fundraising strategies Experience in developing health specific programmes and funding applications Experience with private funding applications (e.g. trusts, foundations, corporations, etc) Successful experience of project coordination, including project proposal development/implementation/reporting, planning & budgeting, representation, and day to day management of staff and security.







Merlin Response Team Finance Coordinator






This can be done through enacting national targets supported by regulatory frameworks and predictable incentives. Second, governments need to focus public finances in such a way as to maximize private investment in the projects that are developed. Public finance must unlock and leverage significant amounts of private capital; this can be done through funds that aggregate smaller investments in energy access, agriculture and energy efficiency; through insurance products that reduce policy and technology risk; and through structured funds that combine public and private investment in such a way as to attract large institutional investors. What factors will create the confidence necessary for developed countries to adequately fund new innovative institutions in this space, such as the Green Climate Fund?




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