Bill de Blasio’s Old Campaign Operations Live On, in One Form or Another

#AFN2014

” Russian & Afghanistan Economic Relationship Evolves into a Working One”

#AceFinanceNews says relations between Russia and Afghanistan gain momentum, presidential special envoy for Afghanistan Zamir Kabulov told Itar-Tass on Wednesday.

“The parties are holding an active political dialogue at the high level – at the level of presidents and foreign ministers.

russian-foreign-ministryAs for economic components, it lags behind the political one,” said Kabulov, who is also director of the Russian Foreign Ministry 2nd Asia Department.

“There are few landmark economic contracts and agreements. It is clear because Afghanistan is a country at war. There are no conditions for security and there are risks for making investments in the country,” the high-ranking diplomat said.

“However, there are joint projects where we maintain cooperation. For example, Russia’s Tekhnopromexport should end the reconstruction and modernisation of the Nagly hydropower plant near Kabul.

Another Russian company is completing the reconstruction and modernisation of the Kabul homebuilding factory.

These are very important projects for Afghanistan,” he said.

 

Enhanced by Zemanta

#acefinancenews, #afghanistan, #asia, #kabul, #russia

#US : `Federal Reserve Tightens Rules’ on `Foreign Banks’ to make them hold `Higher Reserves’

#AceFinanceNews says that `United States Federal Reserve‘  has tightened its rules for `Foreign Banks’ operating in the `US’ to `Hold Higher Reserves’ and prevent another 2008 Financial Crisis

In 1935, Cret designed the Seal of the Board o...

In 1935, Cret designed the Seal of the Board of Governors of the Federal Reserve System. (Photo credit: Wikipedia)

The Federal Reserve has tightened the rules for foreign banks operating in the US, forcing them to hold higher reserves to make them responsible for losses and provide extra solvency in case of another crisis.

Foreign lenders holding $50 billion in US assets will have to establish a subsidiary that will also need to follow the same risk management and liquidity standards as the biggest national banks do.

The Federal Reserve extended the deadline by which foreign banks must comply and meet all the requirements, until July 2016, one year later than originally proposed.

The Fed board approved the decision by a 5 – 0 vote.

The move should “help address the sources of vulnerability” revealed by the crisis, the new chair of the Fed Janet Yellen said.

Before the financial crisis broke in 2008, foreign banks moved from a traditional lending to broker-dealing, where they borrowed dollars in short–term money markets and sold it abroad.

However, the crisis made vulnerable all the lenders equally regardless of the operations they had been involved in, which made foreign players“disproportionate users” of the emergency lending facilities established by the Fed, as USA Today quotes Fed Governor Daniel Tarullo.

Major foreign players on Wall Street like Deutsche Bank and Barclay’s, had pushed back against the Fed’s decision. The new law will squeeze their lending, and raise costs of doing business as lenders will need to transfer costly capital from Europe.

However Sally Miller, the CEO of the Institute of International Bankers in New York, who considers the new Fed rules beneficial to the economy, still thinks that the restrictions were too onerous.

“We continue to have a fundamental disagreement with the Fed about the appropriateness and necessity of applying an extra layer of US bank capital requirements,” as USA today quotes Mrs Miller.

The Fed was ordered to toughen its regulations for large banks that could threaten the entire financial system under the Dodd-Frank Act that Congress passed in 2010 in response to the financial crisis.

RT 

 

Enhanced by Zemanta

#acefinancenews, #daniel-tarullo, #deutsche-bank, #economic, #federal-reserve-system, #sally-miller, #wall-street

Spanish banks make people homeless

#AFN2014 says no surprise that their massive indebtedness to other banks, will cause them to get people out of their homes. Also changes to the `Spanish Land Laws’ will enable the government to take control of their land.

Dear Kitty. Some blog

This is a video from Spain, about the eviction of disabled Antonio Argobia.

By Carlos Hernández and Alejandro López in Spain:

Hundreds of thousands evicted in Spain since 2008 crash

19 February 2014

The brutal consequences of evictions being carried in Spain by the banks in collaboration with the courts and police was evidenced once again recently when Antonio Argobia, a chronically ill and disabled 54-year-old, was thrown out of his home in the working class neighbourhood of Lavapiés in Madrid.

Two weeks ago, in the early morning, police cordoned off the street where Argobia rented an apartment and refused entrance to anyone who could not prove they lived or worked there, attempting to pre-empt an anti-eviction demonstration of the type that has become so common in Spain.

Soon after, a group of riot police broke down the door of Argobia’s apartment with a battering ram without any prior negotiation…

View original post 847 more words

Israel warns public on bitcoin risks, mulls regulation

#AFN2014 says #BitcoinBitRisky

” Third `JP Morgan’ Employee has died under `Mysterious Circumstances’ in a matter of Weeks”

#AceFinanceNews says “Financial Death Toll Rises to `SIX’ as `JP Morgan‘ Employee jumps from Asian HQ Building”‘

Published time: February 19, 2014 09:52
The 30-floor Chater House tower housing the headquarters of investment bank JPMorgan in Hong Kong. (AFP Photo / Philippe Lopez)The 30-floor Chater House tower housing the headquarters of investment bank JPMorgan in Hong Kong. (AFP Photo / Philippe Lopez)
A third JP Morgan employee has died under mysterious circumstances in a matter of few weeks. A still unidentified “Chinese male in is thirties” jumped from the roof of Charter House, the 30 floor Hong Kong headquarters of JPM.

An eyewitness told the South China Morning Post he saw a man climb onto the roof of the skyscraper shortly after lunchtime on Tuesday.

#DOOMPAUL: ANOTHER BANKER SUICIDE THIS MORNINGhttp://t.co/Cfn4zXiUCC pic.twitter.com/u4ACn54z0v

— ThirdPosition (@Third_Position) February 18, 2014

Despite attempts to talk him down, the man jumped before emergency crews arrived, landing on the road outside the building.

The man who jumped was taken to Ruttonjee Hospital where he was declared dead on arrival.

I believe i can fly. 1 banquier de jpm de moins http://t.co/DT0TkeIMeqpic.twitter.com/SjKfmYYzXu

— vladimir guez (@vladimirguez) February 18, 2014

The unidentified man, aged about 33, was a junior employee who served a supporting function at the bank and wasn’t involved in investment activity, according to Bloomberg. Rumors circulating in the media say that his last name was Li.

A colleague of the man said that before the suicide he had complained about heavy work-related stress, though police say no suicide note has been found.

“Out of respect for those involved, we cannot yet comment further. Our thoughts and sympathy are with the family that’s involved at this difficult time,”JP Morgan said in an e-mailed statement.

The latest apparent suicide marks the 3rd sudden death at JP Morgan and the 6th in the global financial world in just a few weeks.

On February 3, a 37 – year old JP Morgan executive director died at his home in Stamford, Connecticut. The cause of death, however, remains unclear and will be determined after a toxicology report is completed.

About a month ago, 39-year-old Gabriel Magee, a JP Morgan vice president in technology operations, died after falling from JPMorgan’s London headquarters.

Other apparent business suicides include a 58-year-old former senior manager for Deutsche Bank, who was found hanged in his home; Karl Slim, the managing director of Tata Motors aged 51, and 50-year-old Mike Dueker who worked for Russell Investment and was found dead on January 29 close to the Tacoma Narrows Bridge in Washington State after being reported missing on the same day.

Also reporter David Bird, who works in the Dow Jones newsroom went missing on January 11 when he left his New Jersey home for a walk.

Enhanced by Zemanta

#acefinancenews, #chater-house, #david-bird, #deutsche-bank, #hong-kong, #ruttonjee-hospital, #south-china-morning-post, #tacoma-narrows-bridge