` French Billionaire, Industrialist and Politician Suspected of Bribing Voters at Elections '

#AceFinanceNews – FRANCE – April 10 – (ID) – An 89-year-old industrialist and politician, son of Marcel Dassault aircraft suspected of bribing voters.

Serge Dassault placed under investigation in the framework of the case of bribery at elections in Corbeil-Eson (a southern suburb of Paris).

Such a decision in respect of the senator took the judge.

Suspicions investigators linked, in particular, with the possible participation of Dassault illegal schemes to finance the campaign, exceeding the permissible level of campaign expenditures, as well as direct bribing of voters.

Presumably, all of these violations occurred in several elections of Corbeil-Eson in the period from 2008 to 2010.

Serge Dassault from 1986 to 2000 he was the aircraft manufacturer Dassault Aviation, founded by his father, and now is its honorary chairman. In the Senate, he is Esonov department from which stretch from 2004, he was elected to the upper house. City Hall Corbeil-Eson in the same department he headed from 1995 to 2009.

Guardian reported February 19 2014 – Dassault, who owns the country’s main conservative newspaper, Le Figaro, is ranked by Forbes magazine as France’s fourth richest man, and the 69th richest in the world, with an estimated fortune of €13bn (£10.7bn).

Investigators suspect him of operating an extensive system of vote-buying that influenced the outcome of three mayoral elections in Corbeil in 2008, 2009 and 2010, which were won either by Dassault or by his successor and close associate, Jean-Pierre Bechter http://www.theguardian.com/world/2014/feb/19/france-serge-dassault-vote-buying

Contributions of – AFP – Ivestia – Guardian


#dassault-aviation, #france, #paris

United Kingdom Would Need Longer to Recover its ` Tripe-A-Debt-Rating ' if Scotland Gains Independence '

#AceFinanceNews – BRITAIN – April 10 – The UK would need longer to recover its triple-A debt rating if Scotland gains independence after a referendum in September, Fitch said on Thursday.

Scottish independence would raise the ratio of the UK’s gross public debt to gross domestic product, Reuters said.

“The UK’s gross debt ratio will need to be lower than its current level and steadily declining before any upgrade back to AAA, a prospect that would be delayed by such a debt shock,” according to the ratings agency.

Telegraph Reported on March 20 – Britain’s public sector net debt will need to fall before the country can regain its top-notch triple-A sovereign debt rating, ratings agency Fitch said on Thursday, a day after finance minister George Osborne’s annual budget http://www.telegraph.co.uk/finance/economics/10712316/UK-not-close-to-regaining-triple-A-rating.html

“The public debt ratio will need to be lower and steadily declining before any upgrade to ‘AAA’. This is unlikely in the near term,” Fitch said in a statement.

Fitch currently rates Britain AA+, one notch below triple-A, with a stable rating.

Government forecasts released showed that Britain’s public sector net debt is expected to rise over the coming years and is not forecast to fall below its current level of around 74.5pc of GDP until the 2018/19 financial year.

It means that only Standard & Poor’s has the UK on the top rating, albeit on “negative outlook”.


#britain, #debt, #fitch, #gdp, #gross-domestic-product, #scotland, #triple-a-rating, #uk

#AceFinanceNews MOSCOW April 10 VTB one of Russia’s…

#AceFinanceNews – MOSCOW – April 10 – VTB, one of Russia’s biggest banks, is looking at winding up its business in Serbia, India and Vietnam, VTB CEO Andrei Kostin told a news conference on Thursday.


“We are not planning to expand our activity at foreign subsidiaries, moreover, we are scaling down our presence in some countries,” he said. We do not plan to expand our activity in Western Europe either.”

#india, #moscow, #russias, #serbia, #vietnam, #vtb, #western-europe

` VTB has Accused the Bank of England of not Conforming to the Standards of Fiscal Supervision ‘

#AceFinanceNews – MOSCOW- April 10 – VTB chief Andrei Kostin mentioned “politically motivated” complexities which the Bank of England brings about for the operations of the London-based subsidiary bank VTB Capital.

“Over the recent weeks, we have been experiencing a very strong pressure on the part of the Bank of England with regard to our bank VTB Capital.

This is the only Russian bank with a full license.

Attempts are being made to place demands on us, the demands that are incompatible with the regular supervision practice,” Kostin pointed out in an interview published in the newspaper Izvestia on Thursday.

“We applied to the Central Bank of the Russian Federation (CBRF) in a request to render assistance in talks with the Bank of England, because those demands do not conform to a professional approach. They contain, rather, a large share of political motivation.

All verifications testified to the fact that the bank is reliable and stable and does not bring problems for the UK financial sector.”

The chief of the VTB Group sets hope on the possibility to prove that “this kind of actions with regard to the Russian bank in the UK is not quite compatible with international norms of supervision”.

In response to a question whether VTB plans to seek Russian government’s protection, Kostin said, “We are operating on the territory of another state and in line with UK law which we do not break. I consider that talks through the CBRF will be the most effective.”


#ans2014, #bank-of-england, #central-bank-of-russian-federation-cbrf, #moscow, #russian, #uk, #vtb, #vtb-capital

` Ukraine Suspends Natural Gas Intake from Russia as Result of Gas Hike and said it will Resume at Right Price’

#AceFinanceNews – UKRAINE – April 10 – (Neurope) – Ukraine has suspended natural gas intake from Russia since April 1 as a result of a price hike, the country’s Energy Minister Yury Prodan said Wednesday.

 "We are not pumping Russian gas today, but we still have time to resume the appropriate gas flows," Prodan told a media briefing.

 The suspension came after Russian gas monopoly Gazprom cancelled discounts on natural gas supplies to Ukraine, citing Kiev's non-fulfilment of its debt obligations and "changing circumstances" over Crimea.

 Russia set the price of gas to Ukraine at 485 U.S. dollars per 1,000 cubic meters.

 Prodan said his country is ready to resume gas imports from Gazprom if Moscow returns to the price of 385 dollars.

As of early April, Ukraine’s accumulated debt for gas supplies from Russia topped 2 billion dollars.

 In 2010, Russia and Ukraine signed a gas-for-fleet agreement, with Moscow offering a discount for gas in exchange for extending its lease of the Black Sea Fleet in Crimea for another 25 years.

 The Kremlin said the pact was no longer valid as Crimea joined Russia after a referendum last month. 


#crimea, #discounts, #energy-minister-yuri-prodan, #gas, #gazprom, #imports, #kiev, #moscow, #russia, #russian, #ukraine

` Ukraine's Overall debt to ` Russia ' stands at $16.6 Billion of which $2.2 Billion is Accumulated Gas Debt '

#AceFinanceNews – MOSCOW – April 09 – Ukraine’s overall debt to Russia stands at $16.6 billion, Russian Prime Minister Dmitry Medvedev said Wednesday at a meeting with President Vladimir Putin dedicated to the situation around Ukraine.

“Three billion dollars is Ukraine’s debt, the accumulated gas debt stands at $2.2 billion, and what we consider Russia’s profit shortfall stands $11.4 billion, which brings the total sum to $16.6 billion,” Medvedev said.

“We use the same approach in regard to our Ukrainian partners as regarding other partners, the key principle is that contracts should be implemented,” the Russian premier said.

He recalled that Russia and Ukraine have an agreement signed in 2009, which should be implemented. In his words, the document stipulates “a switch to the advance system of gas payments if the debt has not been repaid”.

“We could have switched to the advance payment system earlier, but we did not do that because we understood the difficult economic situation in Ukraine,” Medvedev said.

Russian Finance News


#debt, #dmitry-medvedev, #moscow, #president-vladimir-putin, #russias, #russian, #ukraine, #ukrainian

` Russia's `Gazprom ' Signs Agreement with `Kyrgyzstan ' on `Purchase ' of 100% of Shares Kyrgyzgaz at $1 '

#AceFinanceNews – BISHKEK – April 10 – Russia’s Gazprom natural gas monopoly on Thursday signed with Kyrgyzstan an agreement on the purchase of 100% of shares of Kyrgyzstan’s debt-ridden state gas company Kyrgyzgaz for $1.

The new Gazprom unit will be called Gazprom-Kyrgyzstan, Gazprom CEO Alexei Miller said. According to him, “the main goal of the new company will be to ensure uninterrupted supply of natural gas in the needed volumes to Kyrgyz consumers.”

Under the bilateral agreement, Gazprom will allocate at least 20 billion rubles within 5 years for the modernization of gas distribution networks of Kyrgyzstan the length of which is some 700 kilometers.

“We also intend to resume geological prospecting work in Kyrgyzstan in order to raise the republic’s potential. Today, the country produces less than 30 million cubic meters of gas, and we intend to increase this share, as well as the number of gas consumers in Kyrgyzstan,” Miller said.

Russian Oil and News Sources


#gazprom, #kyrgyzgaz, #kyrgyzstan, #russias

“ Russian Subsidiary of US-Based `Hewlett Packard Admits Giving Bribes to Russian Officials for Contract ‘

#AceFinanceNews – WASHINGTON – April 10 – The Russian subsidiary of US-based Hewlett-Packard Company (HP) has admitted its guilt on charges of US authorities of giving bribes to Russian officials in order to secure a beneficial state contract.

This was reported by the US Department of Justice, which investigated this case together with the FBI, California Prosecutor’s Office and US Internal Revenue System.

According to the documents presented to California’s northern district court, the Hewlett-Packard (A.O. CJSC) , registered in Russia, has violated the Foreign Corrupt Practices Act.

Similar charges are brought against the sub-divisions of the US-based company in Poland and Mexico. According to the estimates of the US Department of Justice, Hewlett-Packard and its subsidiaries will have to pay fines in the overall amount of $108 million.

Bribes given by the company to Russian officials and transferred to banking accounts of front companies related to these officials are also estimated at millions of dollars. This was made in order to secure a state contract for office automation and providing computing equipment to one of the Russian federal institutions in 1999 at the amount of $100 million.

In addition, Hewlett-Packard employees expected that after the first contract, there would be additional agreements amounting to $150 million.

“Hewlett-Packard subsidiaries created a slush fund for bribe payments, set up an intricate web of shell companies and bank accounts to launder money, employed two sets of books to track bribe recipients, and used anonymous e-mail accounts and prepaid mobile telephones to arrange covert meetings to hand over bags of cash,” stated Deputy Assistant Attorney General Bruce Swartz.

Meanwhile, Valerie Parlave of the FBI’s Washington Field Office said that attaches for legal issues in US embassies in Moscow, Warsaw, Mexico City and Berlin participated in the investigation of these cases.

Russian and US News Sources


#fbi, #foreign-corrupt-practices-act, #hewlett-packard-company-hp, #hewlett-packard-a-o-cjsc, #russia, #russian, #washington