`Karachi’s Business Community Expresses Grave Concern Deteriorating Law and Order’

#AceFinanceNews – KARACHI – May 31  – The business community has expressed grave concern over the deteriorating law and order situation in the city and alleged that the Law Enforcement Agencies (LEAs) are not doing enough to restore peace.

Businessmen Group leader Siraj Kassam Teli and Karachi Chamber of Commerce and Industry (KCCI) president Abdullah Zaki expressed sheer discontent over various measures adopted by the LEAs to deal with rising lawlessness in Karachi.

The strategies adopted by the Federal and Sindh governments to restore peace in Karachi have failed to yield positive results, they said.

“Businessmen and industrialists provide jobs to millions of people besides contributing 67 per cent revenue from Karachi but sadly they are not taken on board with regards to the law and order situation and are not even invited in the review meetings of the Karachi operation,” the businessmen said.

Published in Dawn, May 30th, 2014

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` FBI Investigating Possible Insider Trading Involving Billionaire Investor ‘

#AceFinanceNews – WASHINGTON – May 31  – The FBI is investigating possible insider trading involving billionaire investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler William Walters, reports say.

The inquiry is reportedly examining whether Mr Mickelson and Mr Walters may have traded shares illegally, based on information provided by Mr Icahn.

Mr Mickelson’s lawyers say he is not the target of an investigation. Mr Icahn denies giving out insider information.

Mr Walters has not yet commented.

The FBI, along with the Securities and Exchange Commission and federal prosecutors in Manhattan, are said to be looking into trading in two different stocks.

The investigation, which began three years ago, is focusing on trades in cleaning products company Clorox.Mr Icahn, a billionaire investor and prominent activist, was mounting a takeover bid for Clorox around the time that Mr Mickelson and Mr Walters placed their trades, the New York Times reports.

“We do not know of any investigation,” Mr Icahn, 78, told Reuters news agency, saying he was proud of his 50-year “unblemished record”.

Investigators are also reportedly looking into trades that Mr Mickelson, a three-time Masters champion, and Mr Walters made relating to Dean Foods, the Wall Street Journal reports (pay wall).

The New York Times quotes sources saying federal authorities are looking into trades placed in August 2012 just before the company announced quarterly results.

Those trades appeared to have no connection to Mr Icahn, the newspaper added.

The FBI and other federal agencies have not commented publicly on the allegations.

None of the men have been directly accused of any wrongdoing.

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‘ France Will Go Ahead With Two Mistral Helicopters Carriers Against US Opposition ‘

#AceFinanceNews – PARIS – May 30 – France will go ahead with the sale of two Mistral helicopter carriers to Russia‘s navy despite US pressure to halt the deal, the French Defence Ministry told ITAR-TASS on Friday.

Mistral_helicopter_carrier_ship_France_french_001

Contract liabilities will be honoured and finalised in October-November, the ministry’s press service said, confirming comment by President Francois Hollande visiting Berlin earlier this month.

Foreign Minister Laurent Fabius has also announced that the deal with go through, noting on a visit to Washington that Russia “had already paid more than half” of the contract cost and that “according to law, there is no possibility to say ‘no’ to the deal.”

He added, however, that France would take “a final decision” on this issue in October. “Let’s wait and see what the situation and legal regime will be like,” Fabius noted, referring to European Union sanctions on Russia over events in Ukraine.

The US has interfered with the France-Russia deal on the Mistral helicopter carrier: a group of democratic members of the Congress has sent a letter to NATO’s secretary general urging to persuade Paris to refuse from the deal with Moscow and to sell the warships to NATO. The initiative was supposed to become a “strong signal” to Russia concerning Ukraine.

The US has made several attempts to scuttle the contract, where the French authorities confirm the obligations are observed properly. France’s Foreign Minister Laurent Fabius said during his visit to Washington in May, Russia had paid over half the contract price and thus no legal grounds existed for saying “no.”

RT – TASS – Military News

#ANS2014

 

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`We are Not Going to Pay 500 USD Per Thousand Cubic Meters of Gas Yatsenyuk ‘

#AceFinanceNews – BERLIN – May 28 – Ukraine’s government-appointed Prime Minister Arseniy Yatsenyuk has confirmed that Ukraine is ready to sue Russia at the Stockholm Chamber of Commerce Arbitration Institute over its dispute over gas prices.

“We are not going to pay 500 USD per thousand cubic meters of gas,” Yatsenyuk told an energy security conference in Stockholm.

“No one has the right to use gas as a political weapon. At the same time, Kiev admits there is an outstanding debt,” Yatsenyuk said.

 

Gazprom’s Chief Alexei Miller said that Ukraine’s outstanding debt for Russia might reach 5.2 billion dollars by June 7.

#ANS2014 

 

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` Vladimir Putin Voices Hope for Settling Ukraine’s Debt ‘

#AceFinanceNews – MOSCOW – May 28  – Russian President Vladimir Putin has voiced hope for settling a dispute with Ukraine that could cut off Russian gas supplies to Europe.

In televised remarks at Wednesday’s Cabinet session, Putin signalled that Russia could negotiate new terms for gas shipments to Ukraine if it pays off part of its debt.

Energy Minister Alexander Novak reported at the session that Ukraine must pay $2 billion before Friday and another $500 million before June 7. Once Ukraine makes the first payment, Russia could negotiate a price discount for future supplies, he said.

Moscow has ratcheted up pressure on Ukraine after its pro-Russian president was chased from power in February after months of protests. Since then, Russia annexed Ukraine’s Crimean peninsula and a pro-Russia insurgency has engulfed eastern Ukraine.

Moscow Times

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` US Setting-Up $5 Billion Terrorism Partnership Fund ‘

#AceFinanceNews – WASHINGTON – May 28 – US is setting up a $5 billion “terrorism partnership fund” to help other countries push back against radical extremists, Secretary of State John Kerry said on Wednesday.

He told “CBS This Morning” that US foreign policy needs to reflect a“rapidly changing, more complex world where terrorism is the principal challenge.” 

In morning interviews, Kerry also defended President Barack Obama’s decision to terminate America’s combat role in Afghanistan by the end of the year, AP reported.

AP – Washington Post

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Morgan Stanley, Goldman Sachs Want Out of Commodities

24/7 Wall St.

aluminum cansBig banks that once made big bucks in physical commodities markets are now looking to pull out of those markets as new rules regarding capital requirements for those physical holdings take effect. The Federal Reserve has been reviewing its policy and is considering imposing a surcharge on bank-owned commodities and warehouses in an effort to get the banks to reduce their investments in the risky and volatile commodities trading business. The comment period on new rules just ended and a decision is expected later this year.

Morgan Stanley (NYSE: MS) has already sold its global oil-trading business to Russia’s OAO Rosneft and now is seeking a buyer for its stake in TransMontaigne Partners L.P. (NYSE: TLP), a pipeline and terminal company with operations in Texas and the southeast United States, as well as along the Mississippi and Ohio rivers. The bank owns the general partner of TransMontaigne Partners and 20%…

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Debt Slavery for Your Children

#AFN2014 – Nice well written post on debt and slavery, these are things of the past coming back to haunt our future! #mustread

Chastisement 2014

Majoring in Debt

HELPby J. Speer-Williams – Jsw4@mac.com

First, the establishment mandated that all American children had to attend twelve years of indoctrination – the inculcation of statist doctrines in free public schools.

Then, many of our high school graduates, who could no longer think critically for themselves, believed they should attend college, despite the shockingly outrageous personal expense to themselves, creating a debt that is likely to follow them for the balance of their lives.
College tuitions have risen one-thousand percent since 1978, which is four times the rate of inflation or healthcare costs.
Unless we discontinue this lethal one-two sucker punch of free public schooling that doesn’t teach our students how to think critically, followed by the absurdly high cost of secondary schooling, we will have generations of Americans who cannot think for themselves and will be debt-ridden for the rest of their moral lives.

Debt-ridden for the…

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` Asia Pacific Largest Most Briskly and Developing Market ‘

#AceFinanceNews – MOSCOW – May 24 – The European countries should use a calculator to see whose natural gas is more beneficial for them to buy, Russian Prime Minister Dmitry Medvedev told the Vesti v Subbotu (News on Saturday) TV programme.

“They always come with new ideas” where they could buy gas, even ready to import liquefied natural gas from overseas, said Medvedev. But a simple calculation would show whether the European economy would endure that and how much such gas supplies would cost, he added.

Natural gas imports from the U.S., according to Medvedev, would cost Europe 40-50% more than Russian gas.

“But the main thing is that you need to arrange supplies,” Medvedev said. The U.S. search for new sales markets is comprehensible, but the Europeans behave strangely, he believes: “Why stand in their own light?”

Europe should appreciate long-term relations as Russia does it: “Our gas relations with Europe are imperishable. We appreciate them as this is a very large and important market for us.”

This, however, did not mean Russia would always do the same thing, and as it is developing and expanding, it could seek other markets seeing nothing shameful in that, he said.

Speaking of the EU plans to diversify gas supplies, Medvedev said it was also Russia’s aspiration, and negotiations with Asian partners had been held exactly for this purpose.

Asia Pacific is the largest and the most briskly developing market… and could become the major market for Russia,” Medvedev said.

The long-expected deal with “the Chinese friends” is “a big success”, believes Medvedev. The contract with China ensured Russia’s stability given the present relations with Europe and the EU, and “we pivot both sides and stand on our own legs”, said the Prime Minister.

#ANS2014 

 

 

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` Russia Allocates Seventy Billion Roubles for Crimean Development ‘

#AceFinanceNews – MOSCOW – May 24 – Russia has allocated about 70 billion roubles, or abour $2 billion, for the development of Crimea and the city of Sevastopol since the two new regions joined the country, Russian Prime Minister Dmitry Medvedev told the Vesti v Subbotu TV programme.

This was the reserve financing that by no means harmed budget financing of other Russian regions, he added.

#ANS2014 

 

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