SCOTLAND: ‘ RBS Not Moving to Scotland Saying We Were Never Serious ‘

#AceFinanceNews – SCOTLAND – September 19 – The Royal Bank of Scotland (RBS) won’t be moving now that Scotland voted against separation.

The announcement we made about moving our registered head office to England was part of a contingency plan to ensure certainty and stability for our customers, staff and shareholders should there be a ‘Yes’ vote,” says a company statement. “That contingency plan is no longer required.”

#AFN2014

#rbs, #scotland

HUMANITARIAN AID: ‘ UN Threatening to Cut Food Supplies to Syria by 40 Percent ‘

AceFinanceNews – UNITED NATIONS/SYRIA – September 18 – WFP/UN Food Programme.

The United Nations will have to cut food supplies to Syria by 40 percent in October due to a funding shortage, Reuters reported.

' Syria's Starving Children Caused by War-Mongers '

‘ Syria’s Starving Children Caused by War-Mongers ‘

“In October, WFP [the UN World Food Programme] will be able to deliver 60 percent of what they have been delivering. In November it will be down to 40 percent,” John Ging, director of operations at the UN Office for Coordination of Humanitarian Affairs told Reuters Wednesday in Geneva after attending an unannounced meeting on humanitarian aid to Syria.

“It is because the money is not coming in. This is devastating news for people who are aid-dependent,” Ging added, noting that more aid is needed as winter approaches.

“So we will find humanitarian agencies cutting down on aid deliveries when aid is needed more than ever,” Ging said. “It is not just food, it is vital shelter material, clothing and supplies for water and sanitation.”

The expert noted that the WFP needs $56 million to avoid cuts in food assistance in Syria’s neighboring countries, so it is highly likely that the Syrian refugees in Lebanon, Jordan, Turkey and Iraq, will not get the necessary assistance.

The UN refugee agency (UNHCR) states some 3 million Syrian refugees have registered in Syria’s neighbouring countries.

The highest concentrations of refugees are found in in Lebanon (1.17 million), Turkey (830,000) and Jordan (613,000), according to UNHCR.

#AFN2014

#acefinancenews, #starving, #syria, #un, #unchr, #united-nations

SOCHI: ‘ Russia and China Discuss $100 Billion of Joint Contracts ‘

#AceFinanceNews – SOCHI – September 19 – Russia and China are discussing over 30 joint projects worth over $100 billion with the frames of the mutual economic cooperation, Kirill Dmitriev, the CEO of the Russian Direct Investment Fund, said on Friday and /ITAR-TASS/ reported. 

' Invest in Russia (RDIF) '

‘ Invest in Russia (RDIF) ‘

We have set up an intergovernmental Russian-Chinese commission and recently discussed over 30 projects worth over $100 billion,” Dmitriev said addressing the International Investment Forum Sochi-2014.

' Investors Part One '

‘ Investors Part One ‘

Investors Part Two

‘ Investors Part Two’

The bilateral investment commission comprising both private and state-run companies gathered for its very first session in China last week.

Asian investors are interested in Russia, however, it takes little longer than usual to establish relations with them and it is important that the relations are organized in a more system-like manner,” Dmitriev added.

#AFN2014

#china, #russia, #russian-direct-investment-fund-rdif, #sochi

EUROPEAN UNION: ‘ Will NOT Cut Russia OFF from SWIFT Inter-Bank Transactions ‘

#AceFinanceNews – EUROPEAN UNION – September 19 – The European Union will not cut Russia off the SWIFT inter-bank financial system, Andrei Kostin, the chief executive officer VTB Group, Russia’s second largest bank, said on Friday.

EU Seeks to Ban Russia from Using SWIFT '

EU Seeks to Ban Russia from Using SWIFT ‘

“I think this is not going to happen. I would have called it an act of direct aggression against Russia’s financial system with all subsequent consequences. This is a very tough measure,” Kostin said at an international investment forum in Sochi.

What can blocking SWIFT lead to?

The Society for Worldwide Interbank Financial Telecommunications (SWIFT) transmits 1.8 billion communications a year, remitting payment orders worth $6 trillion a day.

The system comprises over 10,000 financial organizations from 210 countries.

#AFN2014

#european-union, #russias, #sochi, #swift, #vtb-group