China Investment Corporation / CIC / announced September 10 that as of July this year, the company managed to recover all monies invested by it in the oldest American Foundation "The Reserve Primary Fund".
In April and May 2008, the CIC, according to management needs cash in two installments invested a total of 5.3 billion U.S. dollars in the world's first money market fund "The Primary Fund" managed by "The Reserve". In September 2008, due to bank failure "Lemen Brothers" under the influence of financial crisis, the fund was forced to cancel the promissory notes and bonds, "Lemen Brothers, which he owned, and thus to announce liquidation of the fund.
In the CIC noted that even before the announcement of the elimination of the fund company filed an application for redemption of investment units. KMC with keen interest the developments and about this repeatedly conducted contacts with U.S. governmental control bodies as the Ministry of Finance and the Committee on the Control of securities. Since October 2008, "The Primary Fund" in seven receptions returned CICs all invested funds
9/11/10
Hong Kong ranked second in the ranking of countries and regions in the world with the best business climate for the magazine "Forbes"
Hong Kong ranked second in the ranking of countries and regions in the world with the best business conditions compiled by the magazine "Forbes". Compared to the Year 2009 Special Administrative Region of China has moved up significantly in the ranking - from ninth to second, behind only Denmark, which is the third consecutive year, named the country with a better business climate. Hong Kong has risen in the rating immediately to 7 seats due to its low taxes, protection of investors, free trade and monetary circulation.
In contrast, the U.S., last year found themselves in second place, lost just 7 positions, dropping to 9 th place. The main reasons for such a sharp fall is called a high level of tax payments from businesses and the low level of free trade.
Thus, as noted by Hong Kong media, the area has made almost the most serious breakthrough in the rankings, covering 128 countries and regions. According to "Forbes", Hong Kong's economy recovered much faster than any other territories, through interaction with mainland China in the field of tourism, trade and finance. In addition, it is an important platform to attract foreign capital by Chinese companies.
In addition to Denmark and Hong Kong in the top five also included New Zealand / 3rd place / Canada / 4 e / and Singapore, which has lost one position and dropped to fourth place at pyatoe.-0-
In contrast, the U.S., last year found themselves in second place, lost just 7 positions, dropping to 9 th place. The main reasons for such a sharp fall is called a high level of tax payments from businesses and the low level of free trade.
Thus, as noted by Hong Kong media, the area has made almost the most serious breakthrough in the rankings, covering 128 countries and regions. According to "Forbes", Hong Kong's economy recovered much faster than any other territories, through interaction with mainland China in the field of tourism, trade and finance. In addition, it is an important platform to attract foreign capital by Chinese companies.
In addition to Denmark and Hong Kong in the top five also included New Zealand / 3rd place / Canada / 4 e / and Singapore, which has lost one position and dropped to fourth place at pyatoe.-0-
China 2020 will be the largest market in the world of credit cards - MasterCard
Prior to 2025 the number of credit cards in China will grow by 11% per year, the volume of transactions on them - at 14%, projected to MasterCard.
Proceeds from issuance of bank cards, according to a study to grow in 2025 at 20 times earnings - 30 times.
At the end of June 2010 in China was in circulation 2.3 billion bank cards, including both credit and debit. This figure is 14.5% higher than a year earlier, according to data of the People's Bank of China.
Competition between payment systems in China increases with the fact that the volume of transactions on payment cards in the country increased from 2001 in 84 times - up to 7.7 trillion yuan ($ 1.1 trillion) in 2009.
In China in 2025 will be about 1.1 billion credit cards, compared with 230 million now, predicts vice president of the Chinese unit MasterCard Chen Bin.
The volume of transactions on credit cards, according to him, by the year 2025 could reach $ 2.5 trillion and surpass the U.S..
Proceeds from issuance of bank cards, according to a study to grow in 2025 at 20 times earnings - 30 times.
At the end of June 2010 in China was in circulation 2.3 billion bank cards, including both credit and debit. This figure is 14.5% higher than a year earlier, according to data of the People's Bank of China.
Competition between payment systems in China increases with the fact that the volume of transactions on payment cards in the country increased from 2001 in 84 times - up to 7.7 trillion yuan ($ 1.1 trillion) in 2009.
In China in 2025 will be about 1.1 billion credit cards, compared with 230 million now, predicts vice president of the Chinese unit MasterCard Chen Bin.
The volume of transactions on credit cards, according to him, by the year 2025 could reach $ 2.5 trillion and surpass the U.S..
U.S. Federal Reserve closer to an additional economic stimulus
President of the Federal Reserve Bank of St. Louis, James Bullard said on Friday that the central bank is even closer to stimulate the economy through additional acquisitions, but noted he did not expect that such actions may be necessary.
While economic growth is likely to accelerate in 2011 and there are some signs the completion of a hitch in the restoration, which was observed this summer, the government "should be ready for unexpected events, Bullard said in an interview with reporters and editors of Dow Jones Newswires and The Wall Street Journal.
Commenting on the decision last month by the Committee on Open Market decision to keep the size of the balance at the same level, Bullard said: "I think the Fed has taken steps to have the opportunity to act when necessary to take further action, further actions to mitigate the policy."
"The acquisition of long-term Treasury securities - is the most promising measure that we can take," - he added.
"If the Fed really will take further measures, I do not think that this should be a shock therapy", - said Bullard. Instead, he prefers a more gradual approach to the purchase of Treasury securities, which may be consistent with the incoming data.
"I think we should be ready to act, and I think that the committee is much closer to what had to be prepared than, say, June or May of this year" - said Bullard.
"I do not think it will be necessary to take additional measures," - he added.
While economic growth is likely to accelerate in 2011 and there are some signs the completion of a hitch in the restoration, which was observed this summer, the government "should be ready for unexpected events, Bullard said in an interview with reporters and editors of Dow Jones Newswires and The Wall Street Journal.
Commenting on the decision last month by the Committee on Open Market decision to keep the size of the balance at the same level, Bullard said: "I think the Fed has taken steps to have the opportunity to act when necessary to take further action, further actions to mitigate the policy."
"The acquisition of long-term Treasury securities - is the most promising measure that we can take," - he added.
"If the Fed really will take further measures, I do not think that this should be a shock therapy", - said Bullard. Instead, he prefers a more gradual approach to the purchase of Treasury securities, which may be consistent with the incoming data.
"I think we should be ready to act, and I think that the committee is much closer to what had to be prepared than, say, June or May of this year" - said Bullard.
"I do not think it will be necessary to take additional measures," - he added.
Fund Dubai World restructured debts
Fund Dubai World, whose debt problems at the end of 2009 nearly caused a second wave of the global financial crisis, announced an agreement with 99% of creditors to restructure debts amounting to $ 24.9 billion
This agency reports MarketWatch. The government of Dubai will continue to support the fund Dubai World as one of the shareholders of the fund, said the head of the Supreme Committee of Dubai Financial, Sheikh Ahmad bin Saeed Al-Maktoum.
In August, Dubai World announced its intention in the next eight years to sell some assets, was rescued with $ 19.4 billion for repayment of debts to creditors. The Fund's experts felt that the sale of assets by the then prices could bring a maximum of $ 10.4 billion
In November 2009, Dubai World, one of the top three companies owned by the emirate's government, caused panic in world financial markets, requesting postponement of debt payments, at least until May 2010. In May 2010 Dubai World agreed with creditors on debt terms.
After the debt restructuring Dubai World to creditors, not tied to the Government of Dubai and represented the creditors' committee, the fund will pay the debt in two tranches - $ 4.4 billion over five years and nearly $ 10.0 billion over eight years.
Total Fund intends to pay $ 14.4 billion (approximately 60% of total debt). It is the duty of holding the government of Dubai in the amount of $ 8.9 billion to be satisfied by issuance of securities.
Dubai - second only to Abu Dhabi on the size of the principality in the United Arab Emirates. According to the International Monetary Fund, the state-owned Dubai to the freezing of credit markets due to the global crisis in 2008 had borrowed about $ 109 mldr to finance the transformation of the emirate as a global financial and tourist center.
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This agency reports MarketWatch. The government of Dubai will continue to support the fund Dubai World as one of the shareholders of the fund, said the head of the Supreme Committee of Dubai Financial, Sheikh Ahmad bin Saeed Al-Maktoum.
In August, Dubai World announced its intention in the next eight years to sell some assets, was rescued with $ 19.4 billion for repayment of debts to creditors. The Fund's experts felt that the sale of assets by the then prices could bring a maximum of $ 10.4 billion
In November 2009, Dubai World, one of the top three companies owned by the emirate's government, caused panic in world financial markets, requesting postponement of debt payments, at least until May 2010. In May 2010 Dubai World agreed with creditors on debt terms.
After the debt restructuring Dubai World to creditors, not tied to the Government of Dubai and represented the creditors' committee, the fund will pay the debt in two tranches - $ 4.4 billion over five years and nearly $ 10.0 billion over eight years.
Total Fund intends to pay $ 14.4 billion (approximately 60% of total debt). It is the duty of holding the government of Dubai in the amount of $ 8.9 billion to be satisfied by issuance of securities.
Dubai - second only to Abu Dhabi on the size of the principality in the United Arab Emirates. According to the International Monetary Fund, the state-owned Dubai to the freezing of credit markets due to the global crisis in 2008 had borrowed about $ 109 mldr to finance the transformation of the emirate as a global financial and tourist center.
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Georgia will receive from the United States nearly $ 74 million to improve the living conditions of refugees
Georgia will receive from the U.S. government grant of $ 73.9 million amount is intended to improve the living conditions of refugees. Presented to Parliament of Georgia on the ratification of the treaty "On the improvement of infrastructure and economic opportunities and support to internally displaced Dietz" was considered at the meeting of the Committee Industrial Economics and Economic Policy on 10 September.
Slon.ru
* How to write petitions kings
* From what banks expect defaults? List
* The attack on the hydroelectric power station benefits all
From document signed by the governments of Georgia and the U.S., deputies briefed Deputy Minister of Finance of Georgia, Natia Mikeladze. Members of the committee supported the imposition of a treaty to parliament for ratification. They also endorsed submitted to the ratification of the Framework Agreement between the Government of Georgia and the Asian Development Bank on a loan of $ 300 million for "investment programs for sustainable urban transport", and signed by the Georgian government and the European Bank for Reconstruction and Development loan agreement on the allocation of $ 50 million for the second phase of the program "Policy Development"
Slon.ru
* How to write petitions kings
* From what banks expect defaults? List
* The attack on the hydroelectric power station benefits all
From document signed by the governments of Georgia and the U.S., deputies briefed Deputy Minister of Finance of Georgia, Natia Mikeladze. Members of the committee supported the imposition of a treaty to parliament for ratification. They also endorsed submitted to the ratification of the Framework Agreement between the Government of Georgia and the Asian Development Bank on a loan of $ 300 million for "investment programs for sustainable urban transport", and signed by the Georgian government and the European Bank for Reconstruction and Development loan agreement on the allocation of $ 50 million for the second phase of the program "Policy Development"
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