AFRICA: ‘ Brings Trade & Economic Challenges to World Economies ‘

#AceFinanceNews – AFRICA:March.30: Africa Brings New Trade and Challenges to World Economies. China and India’s new-found interest in trade and investment with Africa—home to 300 million of the globe’s poorest people and the world’s most formidable development challenge—presents a significant opportunity for growth and integration of the Sub-Saharan continent into the global economy.

These two emerging economic “giants” […]

Read more of this post

Disclaimer: This article is not written by ACE NEWS GROUP. The original source of this article can be found here:

#AFN2015

GREECE: ‘ Eurozone Partners Need to See Sense Over Burgeoning Debt As it Needs to Be Viable ‘

#AceFinanceReport – GREECE:March.30: Greece has not given up on its aim to renegotiate its debt to render it manageable, Reuters quoted the deputy finance minister assaying on Monday.

As talks between Athens and its lenders on reforms to unlock aid continue, the government “has not abandoned any claim regarding its aim to make the country’s debt viable,” Dimitris Mardas said.

Greece’s public debt burden reached more than 177 percent of national output last year, and the new government promised to demand that its eurozone partners let it write off a large part of that debt.

#AFN2015

CHINA: ‘ Xi Jinping Speaking at Boao Forum Said Chinese Investment Abroad will Exceed $500-Billion by 2020 ‘

#AceFinanceNews – Featured Report:CHINA:March.29: /TASS/. The volume of China’s investment in other countries’ economies by 2020 will exceed $500 billion, President Xi Jinping said while speaking at the opening of the Boao Forum for Asia annual conference 2015.

"The Chinese economy has entered a new stage of its development, which will be for the benefit of all world countries," the Chinese leader said.

He said the volume of "Chinese investment abroad will exceed $500 billion over the next five years."

This year, some 2,000 politicians, economists and representatives of business circles take part in the forum’s work. The Russian delegation is led by First Deputy Prime Minister Igor Shuvalov.

/Tass/. reported.

#AFN2015

UK: ‘ Hammond Announces £5-Million to Support Nigeria Task-Force Against Boko Haram ‘

#AceFinanceReport – UK Press Release:March.28: The Foreign Secretary, Philip Hammond MP, has announced £5m of UK support for a new regional Task Force to tackle Boko Haram in northern Nigeria and the Lake Chad Basin area.

The Multinational Joint Task Force has been mandated by the African Union and a Security Council resolution is currently […]

Read more of this post

#AFN2015

UK: ‘ Osborne Announces Repayment of Historical Debt ‘

#AceFinanceReport – UK:March.28: The Chancellor of the Exchequer, George Osborne, is today (27 March 2015) announcing that the government will redeem the last four undated bonds in the government’s portfolio, completing the repayment of £2.6 billion of historical debt.

Following the passage of the Finance Act 2015, the remaining four undated gilts – 2¾% Annuities, […]

Read more of this post

#AFN2015

UK: ‘ London’s Docklands Get £200 Million Government Funding ‘

#AceFinanceNews – Press Release: UK:March.28: Work on a major new development at the heart of London’s Docklands will start in a matter of months thanks to £200 million government funding to Canary Wharf Group, Eric Pickles announced.

The new phase of Canary Wharf (formerly called Wood Wharf) development will deliver 3,500 homes as well as offices, shops and leisure facilities.

The scheme has been planned for more than a decade – but today’s (27 March 2015) funding boost will enable work to finally get started.

Communities Secretary Eric Pickles said:

London’s Docklands have been completely transformed in the last 20 years into an exciting place to live and work.

Today’s £200 million deal will ensure this continues long into the future with the development of Wood Wharf, delivering thousands of homes as well as job opportunities.

Funding comes from the government’s £1 billion Large Sites Infrastructure Fund.

#AFN2015

WASHINGTON: ‘ Interest Rate Hike By Fed Maybe Warranted Said Central Bank’s Chief ‘

#AceFinanceNews – WASHINGTON:March.27: An interest rate hike by the Federal Reserve may be warranted later this year, with a gradual path expected to follow:

Although a downturn in core inflation or wage growth could force it to hold off, the central bank’s chief said on Friday Reuters reported.

#AFN2015

USA; ‘ Crude Oil Futures Fall As China’s Reserves Fill-Up ‘

#AceFinanceNews – USA:March.25: Crude oil futures fell on Wednesday as more evidence emerged that China’s strategic reserves could nearly be full and U.S. inventories were also ballooning Reuters Finance reported.

Brent crude oil futures <LCOc1> dropped 18 cents to $54.93 a barrel at 0812 GMT. U.S. WTI crude <CLc1> was down 36 cents at $47.15 per barrel.

#AFN2015

MERGER DEAL: ‘ H.J.Heinz & Kraft Foods Group Create Third Largest Food & Beverage Firm in United States ‘

#AceFinanceNews – USA:March.25: H.J. Heinz Company and Kraft Foods Group, Inc on Wednesday announced they have entered into an agreement to merge and form the third-largest food and beverage firm in the United States.

The firms said the agreement, to create The Kraft Heinz Company was unanimously approved by the boards of directors of both firms. The deal was engineered by Heinz’s owner, the Brazilian investment firm 3G Capital, and billionaire investor Warren Buffett’s Berkshire Hathaway.

Kraft shareholders will receive stock in the new company and a special cash dividend of approximately $10 billion, or $16.50 per share. Current Heinz shareholders will own 51% of the company, with Kraft shareholders owning a 49% stake.

The new company will be called The Kraft Heinz Company and will be co-headquartered in Pittsburgh and the Chicago area.

#AFN2015

GREECE: ‘ Tsipras Wrote to Merkel Warning of Impossible Debt-Payments & Maintaining Social Spending ‘

#AceFinanceNews – GREECE:March.23: Greek Prime Minister Alexis Tsipras wrote to German Chancellor Angela Merkel last week warning it would be “impossible” for Greece to make debt payments over the next few weeks without more financial help, Reuters said.

Greece would be forced to choose between paying off loans, owed primarily to the International Monetary Fund, […]

Read more of this post

#AFN2015