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By: Jonathan Agyepong

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Saturday, 31-Aug-2013 19:26 Email | Share | | Bookmark
Sharonville Finance Report Shows Strength And Change








Finance Minister directs commercial banks to increase interest for depositors





The city also received a Certificate of Excellence in Financial Reporting from Governmental Finance Officers Association (GFOA) for the 2011 Comprehensive Annual Financial Report (CAFR). McKeehan noted two changes in the 2013 budget process. Estimated receipt data and past receipt amounts are now included in the detail templates, the finance director said. This provides a better snapshot to observe the fund receipts and expenses, and a perspective of where the fund is projected to end.







Finance Ministry warns wilful defaulter again, asks banks to nail them





He said the bank invested about K3.5 million for the opening of the branch. He said the bank would continue to be more innovative and work in line with international banking standards thus contributing positively to national development. Mr Ndhlovu said the bank had special products for the people of Choma, and would ensure that it fully supported the agriculture and livestock sectors. To this effect the bank donated K10, 000 for the purchase of dip tank chemicals in an effort to reduce and boost the livestock sector in the province.









"There was a complete unanimity on how wilful defaulters are going to be treated. At today's meeting, I have also communicated that message which I think is very important that absolutely no consideration will be shown to wilful defaulters," Financial Services Secretary Rajiv Takru told reporters after a meeting with top bankers here this evening. He said banks have been advised to cut down their net non-performing assets (NPAs) and so wilful defaulters must be dealt as firmly, correctly and expeditiously as possible. Takru had earlier this month gave a stern warning to wilful defaulters and told them that they should be prepared to cede management control of their companies as they are putting public's money at stake. As of June quarter, total restructured assets of banks crossed Rs 4 lakh crore, and the major contributor are the state-run banks.



Saturday, 31-Aug-2013 13:08 Email | Share | | Bookmark
Report: Ge To Spin Off Consumer Finance Business












GE's stock has climbed nearly 11 percent so far this year. @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. Search for share prices Copyright/IP Policy Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges .







Think Finance Hires Craig A. Nies as Chief Analytics Officer





Using our technology and analytics platform, Think Finance and the lenders we work with have provided over $3.5 billion in credit to 1.5 million consumers in the U.S. and abroad and have saved customers over $1 billion compared to payday loans. Think Finance is privately held and is backed by some of Silicon Valley's most respected venture capital firms including Sequoia Capital and Technology Crossover Ventures. The company was recently named No. 2 on Forbes' America's Most Promising Companies list.





California GOP violated campaign finance rules, watchdog says





(Lawrence K. Ho / Los Angeles Times / June 16, 2011) By Patrick McGreevy August 30, 2013, 8:16 a.m. SACRAMENTO -- The California Republican Party violated state campaign finance rules by failing to properly disclose its contributions last year to a campaign against newly drawn state Senate districts, the states ethics agency has concluded. In all, the state GOP provided $1.9 million in contributions, in-kind services and loans to the group Fairness and Accountability in Redistricting (FAIR), which qualified a ballot measure to overturn the new state Senate redistricting maps. After the Supreme Court found the maps were properly drawn, FAIR dropped its opposition to the redistricting plan.





Finance Minister directs commercial banks to increase interest for depositors





He commended the banks initiative of branch expansion where it had so far invested over K21million from January this year. Investrust Bank Managing Director Friday Ndhlovu said the banks short term strategy was to be in all provincial centres to improve on the saving culture of the majority Zambians. He said the bank invested about K3.5 million for the opening of the branch. He said the bank would continue to be more innovative and work in line with international banking standards thus contributing positively to national development.



Saturday, 31-Aug-2013 06:22 Email | Share | | Bookmark
Zurich Insurance chairman steps down following finance director'












Tragedy: Pierre Wauthier was found dead in his apartment in Zug, Switzerland on Monday Wauthier's widow declined to comment on Thursday and at the family's lakefront home, once a traditional Swiss inn, a security guard said relatives did not wish to talk. Zurich's chief executive Martin Senn said he was not aware of any dispute that could have driven Wauthier to his death. 'We didn't spot any conflicts that could or should have led to such a death,' Senn told Swiss television. However, a former colleague of Wauthier's said there was pressure within the company to increase its share price.





Finance minister asks banks to ensure credit flow to industry





Chidambaram on Thursday asked state-run banks to ensure flow of credit to every sector of industry, indicating the need for funding projects amid an economic slowdown. The banks have been asked to assist industrial borrowers who were facing difficulties and be sympathetic towards genuine defaulters, Chidambaram told a parliamentary panel attached to the finance ministry. Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in March -- the lowest level in a decade -- and most economists surveyed by Reuters in the past week expect 2013/14 to be worse. (Reporting by Manoj Kumar; Editing by Sunil Nair) Explore Related Content







Fifth Street Finance (FSC) Passes Through 11% Yield Mark





Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss of $0.48 or 0.6% decrease over twelve years. But now consider that you collected a whopping $10.77 per share in dividends over the same period, increasing your return to 13.15%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 11% would appear considerably attractive if that yield is sustainable. Fifth Street Finance Corporation ( NASD: FSC ) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S. stock markets.





RPT-Market Chatter-Corporate finance press digest





sister plant in the deal, a source with knowledge of the matter said. * Swedish refiner Nynas will win unconditional EU antitrust approval for its proposed acquisition of most units of Royal Dutch Shell's Harburg refinery, a person familiar with the matter said on Thursday. * AT&T Inc will examine Vodafone Group Plc's remaining assets after Verizon Communications buys out the British mobile carrier's stake in Verizon Wireless, Bloomberg reported, citing people familiar with the matter. * L'Oreal will be ready to buy Nestle's 29.5 percent stake in the French cosmetics giant next year, French daily Les Echos reported, citing L'Oreal Chief Executive Jean-Paul Agon. * Private equity firm Blackstone Group LP's real estate unit is set to take over Netherlands-based real estate company Multi Corp following the completion of its restructuring, Bloomberg reported, citing two sources familiar with the matter.



Thursday, 29-Aug-2013 12:47 Email | Share | | Bookmark
The Windows 8 Finance App Gets New Improvements








Think Finance Hires Craig A. Nies as Chief Analytics Officer





Even though no details on this new build has been provided at the time of writing this article, this particular version most likely comes to address some of the bugs found by Microsoft engineers in older releases. As a result, expect the Finance app to load faster on both Windows 8 and Windows RT , while also offering a much more stable overall experience on either platform. Designed for Windows, the Finance app puts control at your fingertips. Swipe through colorful charts for a quick read on the day's events. Rich graphics help you find the latest mortgage, auto, and credit card rates.





Mahindra & Mahindra Finance and EXIM CP: India Money Markets





Nies graduated with a Bachelor of Science in Computer Science from the University of California San Diego. About Think Finance Think Finance develops online financial products that bridge the gap between payday loans and credit cards. Using our technology and analytics platform, Think Finance and the lenders we work with have provided over $3.5 billion in credit to 1.5 million consumers in the U.S. and abroad and have saved customers over $1 billion compared to payday loans.











The data has been provided by LKP Securities Limited and NVS Brokerage Ltd., and Trust Financial Consultancy Services T = Tentative C = Confirmed Deal Date Security Mty Date Qtm Rate Buyer Seller CTRB St. 29-Aug-13 M&M FINANCE 02-Sep-13 10.85 NVSB T 29-Aug-13 EXIM 04-Sep-13 10.50 NVSB T 29-Aug-13 SIDBI 28-Feb-13 12.25 NVSB T 29-Aug-13 VODAFONE 10-Sep-13 11.50 KOTAK MF LKPS T 29-Aug-13 L&T FIN 30-Aug-13 25 10.65 BOIAXA BIRLA MF TFCS T 29-Aug-13 L&T FIN 30-Aug-13 25 10.65 DEUT MF BIRLA MF TFCS T 29-Aug-13 L&T FIN 30-Aug-13 25 10.65 MF BIRLA MF TFCS T 29-Aug-13 L&T FIN 30-Aug-13 25 10.65 REL MF BIRLA MF TFCS T 29-Aug-13 EXIM 04-Sep-13 50 10.50 RIL MF TFCS T 29-Aug-13 JM FIN. 06-Sep-13 50 11.00 MF IDFC MF TFCS T Contributed via: Bloomberg Publisher WEB Service Provider ID: cdb270b5e04043e4b529afa74fe0b136



Thursday, 29-Aug-2013 06:34 Email | Share | | Bookmark
Finance Ministry sends letters to indirect tax defaulters












We don't want a German Europe but we want a strong Europe and that means every member state including Germany has to increase its competitiveness," Schaeuble said. "A stronger Europe means that everyone has to do its duty and not to ask for more money by others -- that's the wrong way to get a strong Europe, that's the wrong incentive." German FM: Greece needs until 2022 German FM: Eurozone in a better place His comments come ahead of the September 22 election, as Merkel faces a German electorate weary of Europe's largest economy helping to bail out troubled eurozone nations, whose debt woes have threatened the stability of the currency. Greek unemployment hits record 27.6% Greece, along with three other eurozone countries -- Portugal, Ireland and Cyprus -- remain dependent on rescue loans from the EU and International Monetary Fund (IMF). The 17-nation eurozone has emerged from its longest ever recession, growing 0.3% in the second quarter after 18 months of contraction. Unemployment rates remain high, but worries that the debt crisis could spread to larger economies such as Spain and Italy -- which both saw borrowing costs climb dangerously high last year -- have abated.











Even though no details on this new build has been provided at the time of writing this article, this particular version most likely comes to address some of the bugs found by Microsoft engineers in older releases. As a result, expect the Finance app to load faster on both Windows 8 and Windows RT , while also offering a much more stable overall experience on either platform. Designed for Windows, the Finance app puts control at your fingertips. Swipe through colorful charts for a quick read on the day's events.









There are 1.2 lakh excise duty assesses across the country. Whereas, there are 17 lakh registered assesses under the service tax. The aim behind sending such letters is to remove bureaucratic hassles and develop faith in people about tax authorities, the officials said. Under this process, those getting the letters need not to appear in person before the tax authorities but need to furnish information on the queries sought from them.



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