#AceFinanceNews – KIEV – April 03 – Ukraine has stopped supplying sugar to Crimea, Nikolay Yarchuk, the head of Ukraine’s national association of sugar producers, Ukrsakhar, told journalists on Thursday.
The country has “lost the Crimean market,” estimated at about 100,000 tonnes of sugar, Yarchuk said.
He noted that Ukraine also suspended sugar export to Central Asian countries over some difficulties with transportation through Russian territory.
“We have stopped exporting sugar to Central Asia as the transit of our goods through Russia was suspended,” Yarchuk said.
According to Ukrsakhar’s data, Ukraine exported about 140,000 tonnes of sugar from September 2012 to August 2013.
#AceFinanceNews – CHINA – April 03 – Many of China’s Estate Developers are verging on the Brink of bankruptcy, as many borrowed heavily at high interest rates. The fact that borrowing at the time was plentiful the risk was a lot greater and now they many estates remain empty.
Though interest payments remain high and still require servicing.
Government Official Analysis has shown that the following indicators apply to this situation.
- Some of the second and third tier cities housing prices under pressure, as still remaining empty.
Analysts expect more regional small developers will go bankrupt, as the city dwellers are reticent given the present worldwide situation.
The fact that prices still remain high will lead to the decline in building projects as more banks that are risk avert, tighten criteria of their lending.
The real outcome in the long run will be that over priced estates, will remain vacant. Whilst cash-strapped developers still have to either go bankrupt or are forced into liquidation by the banks.
Ace News Services 2014
#AceFinanceNews – WASHINGTON – April 03 – Dmitry Firtash, one of the most influential Ukrainian oligarchs, was charged with bribing Indian officials to gain access to titanium mines in India, the U.S. Justice Department said in a press release on Wednesday http://www.justice.gov/opa/pr/2014/April/14-crm-333.html
Six people Firtash, a Hungarian entrepreneur, another Ukrainian citizen, an Indian politician and two businessmen from India and Sri Lanka are under investigation. U.S. prosecutors said that about 18.5 million dlrs had been handed over to Indian officials since 2006 to secure rights to mine titanium in the Indian state of Andhra Pradesh.
The mining project was expected to generate 500 mln dlrs annually from the sale of titanium, including to a company based in Chicago.
Prosecutors said Firtash had negotiated with Indian officials and ordered to pay them in exchange for preferences to secure mining licenses, and documents were falsified, on his instructions, for the money transfer.
The investigation was conducted by the FBI in Chicago.
On March 21, Firtash was released in Vienna on a 125-Million euro bail from custody. He was held there after he was detained at the request of U.S. law enforcement authorities #ANS2014 http://wp.me/pzTwj-2FR
As was noted in the United States, Firtash was a major player in the sale of Russian gas to Ukraine.
#AceFinanceNews – REPUBLICANS – April 03 – (Reuters) – The Republican Governors Association, the group led by embattled New Jersey Governor Chris Christie, raised $23.5 million in the first quarter of 2014, it will announce Thursday morning.
The fundraising total represents a major haul for the organization dedicated to supporting Republican candidates in the 36 ongoing governors’ races, but it also demonstrates that Christie, the association’s chair, remains a potent money magnet even after a political scandal has complicated his future.
The haul is more than twice the group’s previous first-quarter record of $9.1 million raised in 2010, when then-Mississippi Governor Haley Barbour, also famous for being an effective fundraiser, was in charge.
The group will also announce it has $59.6 million in cash on hand.
“RGA’s strong financial position will give us the resources to push back against the public sector unions and the White House,” Executive Director Phil Cox says in the press release.
Read More: http://www.reuters.com/article/2014/04/03/us-usa-politics-christie-fund-idUSBREA3209P20140403
#AceFinanceNews – MOSCOW – April 03 – Ukrainian domestic joint stock company Naftogaz Ukrainy’s debt to Russian gas giant Gazprom is estimated at more than $2.2 billion with due account of March gas supplies, Gazprom said in a statement upon results of a meeting between CEO of Russian and Ukrainian energy companies Alexei Miller and Andrei Kobolev in the Russian capital on Thursday.
Also the price of gas for Ukraine is set at $485 per 1,000 cubic meters as of April 2014, Gazprom CEO Alexei Miller said.
Russian Finance and Oil News
#AceFinanceNews – (Reuters) – UNITED STATES – April 03 – The U.S. Supreme Court on Wednesday struck down a key pillar of federal campaign finance law by allowing donors to give money to as many political candidates, parties and committees as they wish.
In the latest in a series of decisions by the high court that have given big-money donors more influence in U.S. elections, the justices rejected the overall limits on how much individuals can donate during a federal two-year election cycle.
The ruling – a 5-4 decision with the court’s more conservative justices in the majority – could have an immediate impact on the 2014 midterm elections, in which Republicans are likely to keep control of the House of Representatives and are seeking to gain six Senate seats to take over that chamber.
CURRENT CAMPAIGN FINANCE LAWS – 2010
The FEC is responsible for enforcing the federal campaign finance law. It is a six-member commission made up of three Republicans and three Democrats, who, despite the statutory requirement that they be nominated by the President, are usually hand-picked by the Congressional leadership of the respective parties and consequently protect party interests. Due to its structure, the FEC often ends in deadlock on any significant questions.
An individual who is a citizen can contribute $2,400 to a candidate for the primary election, and $2,400 for the general election (a total of $4,800 per person). Individuals can also give $5,000 to a political action committee (PAC) per year; $30,400 a year to a national political party committee per year; and $10,000 to the federal account of a state party committee per year. The most an individual can give altogether is $115,500 for the two-year cycle ($45,600 to all candidates and $69,900 to all PACs and parties).
Read More: http://www.reuters.com/article/2014/04/02/us-usa-court-election-idUSBREA3116V20140402