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Posts sent on: 2013-08-08

Aug082013

Kuwait forms cabinet with new oil, finance ministers









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As well as Prime Minister Sheikh Jaber Mubarak Al-Sabah, six other members of the Al-Sabah family were appointed to the cabinet, one more than in the previous government. They control the key ministries of defence, interior and foreign affairs, as well as finance, information and health. New interior and defence ministers were appointed from within the ruling family. Sheikh Ahmad Humoud Al-Sabah was replaced at interior by Sheikh Mohammad Khaled Al-Sabah, who had previously held the post. Army chief of staff Sheikh Khaled al-Jarrah Al-Sabah replaces Sheikh Ahmad Khaled Al-Sabah at defence.














Five appointed to Finance Committee






New additions to the board include Susan Almono, Marta Solof and Timothy Tschirhart. Returning for another term on the board are current Chair Alan LeBovidge and Daniel Leary. Terms for the Finance Committee typically last for three years. Active Finance Committee members appointed by DiSalvo last July include Karin Blake William Callahan. Michelle Nadeau, one of the three appointments last year, resigned from the position due to a move out of town.







SEC?s Corporation Finance Chief Counsel Thomas Kim Joins Sidley Austin LLP






If [businesses] are still not viable after 25 years, they can still renew. At least we have the option to review [their contracts], Purisima said. A sunset provision or clause is a measure within an existing regulation or law that provides that the law shall cease to have effect after a specific date, unless further legislative action is taken to extend the law. Most laws do not have sunset clauses and therefore remain in force indefinitely.







Finance rejects income tax holiday






The PEG project works with local authorities and private sector groups to improve the enabling environment for investment and generate more productive employment and incomes. Through a focus on building key value chains -- including renewable energy, fisheries, and livestock the project leads activities to improve public-private partnerships to spur economic growth and manages an innovative business grant fund. Core Responsibilities: The Finance and Compliance Manager will provide leadership and day-to-day management and oversight for the programs financial management, operations, financial and compliance aspects of the grants process, and procurement, and related reporting functions in compliance with USAID regulations. The position is based in Hargeisa, Somaliland.







Finance and Compliance Manager, USAID Partnership for Economic Growth Project






office. His broad experience in both the private sector and at the SEC will be a great asset to our clients. As Chief Counsel of the Division of Corporation Finance, Mr. Kim managed a staff of more than a dozen senior lawyers, providing definitive legal advice on the federal securities laws administered by the Division, both informally and through the issuance of no-action, interpretive and exemptive letters. Under his leadership, the Chief Counsels Office updated all of the Divisions interpretations as Compliance and Disclosure Interpretations and issued several significant Staff Legal Bulletins. Mr.




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Aug082013

Fifth Street Finance Corp. Expands Its Syndicated Bank Credit Facility to $480 Million and Lowers Pricing to LIBOR + 2.25% Per Annum









The 2013 Seafood Harvest

The appointment of the new 16-member line-up came after the Gulf state's second parliamentary polls in eight months were again boycotted by the opposition. Former central bank governor, Sheikh Salem Abdulaziz Al-Sabah, who resigned last year in protest over a huge expansion in public spending, was appointed finance minister. In his resignation letter in February last year, Sheikh Salem complained that public spending had increased to unprecedented and unsustainable high levels, risking fiscal and monetary stability. Between 2006 and 2012, Kuwait spending has tripled to over $70 billion with the overwhelming majority going to support salary increases and public subsidies.







MY BIZ: Finance Ministry may back RBI's 'moral' rescue route




MY BIZ: Finance Ministry may back RBI

About ING Capital LLC ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, which is part of the global financial services company ING Group.ING Bank NV has 67,000 employees serving its clients through its extensive global network in the world's major financial services markets.ING Capital has built a leading position in corporate lending.The Investment Industry Finance (IIF) group at ING Capital offers a broad range of structured finance solutions to its clients active in the Investment Industry, including BDCs. Forward-Looking Statements This press release may contain certain forward-looking statements, including statements with regard to the future performance of the company. Words such as "believes," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements.








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A senior Finance Ministry official told Mail Today that the issue was slated for discussion between RBI governor designate Raghuram Rajan and financial sector regulators in Mumbai on Wednesday. Moral suasion refers to a policy in which the government or the Central bank uses persuasion rather than regulatory force to convince financial sector participants to take a particular action. Currently, commercial banks like HDFC Bank offer annual rates of interest ranging from 8.75 per cent-9 per cent on fixed deposits for NRIs. However, while banks are free to vary this interest rate, they cannot raise it above the cap imposed by RBI.







RPT-Fitch affirms 6 Taiwan bills finance companies






However, their consistent focus on creditworthy corporates and high-quality underlying collaterals against repo help mitigate potential risks. CBF and IBF are rated at 'BBB', the highest among peers, reflecting their well-established franchise in Taiwan's money market, long-standing customer relationships, as well as their adequate financial strength. Fitch expects CBF and IBF to maintain a robust market presence, supported by their sustained leadership in guarantee underwriting and by their strong primary/secondary market-making among peers. Among smaller-sized companies, TCBFC reported strong guarantee growth (33% in 2012; sector average: 8.2%).




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Aug082013

Kuwait forms cabinet with new oil, finance ministers









photo_1375619229361-1-HD.jpg

Army chief of staff Sheikh Khaled al-Jarrah Al-Sabah replaces Sheikh Ahmad Khaled Al-Sabah at defence. "The government has seven members from the ruling family and the rest are former ministers ... This confirms that there is no intention to inject young blood," independent MP Riyadh al-Adasani said. "Article 6 of the constitution states that the people are the source of all powers but in reality the ruling family is the source of all powers," former opposition MP Abdulrahman al-Anjari wrote on his Twitter account. The ministers of commerce, development, social affairs and labour, education and Islamic affairs were retained.







Obama touts mortgage finance plan, highlights private sector role






The president jabbed Republican adversaries over immigration and health care as well as housing. He argued that immigration reform - which is languishing in the House - would help the U.S. housing market because undocumented people were important buyers of homes. Obama noted that Arizona's two U.S.




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