` Russian Joint-Stock Bank `AB Rossiya ‘ has decided following recent `Sanctions ‘ to work Only with National Currency ‘

#AceFinanceNews – MOSCOW – March 28 – The Russian joint-stock bank, AB Rossiya, decided on Friday that it would work only with the national currency to protect its customers from dishonest actions by foreign financial institutions.

“In order to protect the bank’s customers from dishonest actions by foreign financial institutions AB Rossiya has decided to operate only in the domestic market and exclusively with the national currency of the Russian Federation – the Ruble,” AB Rossiya said in a statement released on Friday.

“The bank has already notified some US banks that it is closing its correspondence accounts. Similar notifications have been sent to other foreign financial institutions,” the bank said in its statement.

#AFN2014

#ab-rossiya, #moscow, #ruble, #russian, #russian-federation, #us

` Angela Merkel has Emphasised the need to Develop relations with ` Russian Companies ' despite position on Crimea'

#AceFinanceNews – BERLIN – March 28 – Germany’s chancellor has emphasised the need to develop relations with Russian companies despite the country’s position on Crimea.

“Angela Merkel would like economic contacts to continue in future,” the German government’s spokeswoman, Christiane Wirtz said on Friday- itar-tass.

Investments should be made under reliable framework conditions, she said.

Earlier reports said the head of Germany’s state railway Ruediger Grube was planning to visit Russia in the middle of April.

Grube has regular meetings with the Russian Railways leadership, the German company says.

Russian News and Media Sources

#AFN2014

#berlin, #crimea, #german, #germany, #germanys-chancellor-angela-merkel, #russia, #russian

` Hungary PM ` Voices ' his Opinion against `Economic Sanction's ' on ` Russia ' as not in Interest of Europe '

#AceFinanceNews – HUNGARY – March 28 – Hungary has voiced its opinion against the EU imposing a round of economic sanctions on Russia over Ukraine.

According to Prime Minister Viktor Orban has said. “Economic Sanctions are in the third round and it would be fortunate to avoid these because it is not in the interests of either Europe, or much less Hungary,” Orban was quoted as saying by the business daily Vilaggazdasag on Friday.

For a long time now Hungary has relied on Russia to supply around 80 percent of its natural gas requirement’s and to that end, Russia is also Hungary’s largest trading partner outside the European Union.

Ace News Services 2014

#AFN2014

#ace-news-services-2014, #economic, #eu, #europe, #european-union, #hungary, #russia, #sanctions

` Turkey sacks Member of its ` Defence Ministry ‘ and makes Reference to Procurement of a Defence Contract ‘

#AceFinanceNews – TURKEY – March 28 – Turkey has sacked Murad Bayar, Defence Ministry under-secretary for the state-run defence industries, Reuters said.

The ministry did not give a reason for the decision, but Bayar had been influential in Turkey’s negotiations with China over the procurement of a missile defence system.

NATO allies voiced concern when Ankara said in September, it had chosen China’s FD-2000 missile defence system over rival offers from the Franco/Italian Eurosam SAMP/T and US-listed Raytheon Company.

#AFN2014

#ans2014, #ankara, #china, #franco, #italian, #nato, #reuters, #turkey, #us

` Grenades are thrown at the offices of `Thailand’s Anti-Corruption Agency ‘ by Protesters over Corruption ‘

#AceFinanceNews – THAILAND – March 28 – Grenades were thrown at the offices of Thailand’s anti-corruption agency, police said on Friday.

The National Anti-Corruption Commission earlier summoned the prime minister to answer charges of dereliction of duty next week, Reuters reported.

Nobody was injured in the overnight attack, the second on the agency’s offices this week.

The commission is examining the alleged failure of Yingluck Shinawatra to stop corruption and stem huge losses in a government rice-buying program.

Ace Related News – March 12 – 09.41 GMT – #AceWorldNews – Bangkok – Rice producers participating in anti-government protest rally in the Thai capital have caused a blackout in the Trade Ministry headquarters, MCOT news agency reported on Wednesday.

In February, the Thai government managed to negotiate with an initiative group of farmers a schedule for paying debts in order to avoid mass protests in Bangkok, where thousands of farmers were ready to go to demand their money to be paid immediately.

Meanwhile, not all the farmers agreed to wait. http://wp.me/pzTwj-2CR

#AFN2014

#national-anti-corruption-commission, #reuters, #rice, #thailand, #yingluck-shinawatra