TEHRAN, Iran. President @HassanRouhani : Iran’s economy has been experiencing 8% growth http://ift.t t/2qMkAZV here’s the reasons why ? #AceNewsDesk – @AceFinanceNews

#AceFinanceReport – May.23: Iran Courting UK Investment Banks to Attract Foreign Investment
Interview #AceNewsDesk reports

In a bid to attract foreign investments to Iran and pitch commercial opportunities to international bidders, Iran Privatization Organization is holding talks with UK investment banks and private equity firms, an official with IPO announced.

No Restriction for German Finance for Iranian Projects German banks will soon finance major Iranian projects, as bilateral banking relations expand, announced the head of financial institutions at the Euler Hermes insurance.

Two Iranian Banks Opening Munich Branch: Two Iranian private banks are to open branches in Munich, the capital of the German state of Bavaria, which will greatly enhance the prospect of Iran-German financial interactions, the deputy economy minister for economic affairs and media, energy and technology announced.

Dubai‘s Rotana Eying Expansion in Isfahan: The Dubai-based Rotana Hotels and Resorts will expand its presence in Iran by opening at least one property in Isfahan

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RIYADH: Softbank-Saudi tech fund becomes world’s biggest with $93 billion of capital http://ift.tt/2qFkvqK #AceNewsDesk – @AceFinanceNews

#AceFinanceNews – 20/05/17: Softbank-Saudi tech fund becomes world’s biggest with $93 billion of capital http://ift.tt/2qFkvqK #AceNewsDesk

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US MARKETS: MARKET SELLOFF : Trump-Comey Memo Turmoil Socks Wall Street, Stocks See Worst Day in Eight Months #AceFinanceDesk – @AceFinanceNews

#AceFinanceReport – 17/07/17: U.S. equity markets sold off sharply on Wednesday, as investors were spooked by media reports about a memo written by former FBI director James Comey regarding a meeting with President Donald Trump The Dow Jones Industrial Average closes down 372 points following the claim that President Trump asked ex-FBI Director James Comey to drop a probe into former National Security Adviser Michael Flynn. #AceFinanceDesk

According to preliminary calculations at the closing bell, stocks ended the day at session lows.

The Dow Jones Industrial Average dropped 370 points, or 1.77%, while the broader S&P 500 shed 1.8% and the tech-heavy Nasdaq Composite index dropped 2.35%. More on this story: http://www.foxbusiness.com

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REPORT: Ford is planning a major round of layoffs that will cut up to 20,000 jobs around the world, according to reports published Monday #AceFinanceDesk – @AceFinanceNews

#AceFinanceNews – May.17: Ford plans to shrink its salaried workforce in North America and Asia by about 10 percent as it works to boost profits and its sliding stock price, a source familiar with the plan told Reuters #AceFinanceNews

Ford To Cut North America, Asia Salaried Workers By 10 Percent
Published on May 16, 2017 at 10:00AM From a report: A person briefed on the plan said Ford plans to offer generous early retirement incentives to reduce its salaried headcount by Oct. 1, but does not plan cuts to its hourly workforce or its production.

The move could put the U.S. automaker on a collision course with President Donald Trump, who has made boosting auto employment a top priority. Ford has about 30,000 salaried workers in the United States.

The cuts are part of a previously announced plan to slash costs by $3 billion, the person said, as U.S. new vehicles auto sales have shown signs of decline after seven years of consecutive growth since the end of the Great Recession.

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LYFT and WAYMO agree to work in collaboration on ‘ Self Drive Cars ‘ to bring autonomous vehicles to the masses, both companies told NBC News on Sunday night #AceFinanceDesk – @AceFinanceNews

#AceFinanceNews – May.14: In the race to the self-driving future, Lyft has agreed to work with Waymo, the self-driving car company owned by Google’s parent company, to bring autonomous vehicles to the masses, both companies told NBC News on Sunday night #AceFinanceDesk

Lyft And Waymo Announce They’ll Collaborate On Self-Driving Cars
Published on May 14, 2017 at 07:26PM The announcement comes as Waymo has accused Lyft’s biggest competitor, Uber, of stealing trade secrets from the company to advance its own self-driving operation.

Both companies issued gushy statements about their new partners. Lyft said Waymo “holds today’s best self-driving technology, and collaborating with them will accelerate our shared vision of improving lives with the world’s best transportation.” And Waymo applauded Lyft’s “vision and commitment to improving the way cities move”, saying it would help their technology “reach more people, in more places.”

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JAPAN/TAIWAN: Report: SoftBank and Foxconn Bring India Some of World’s Cheapest Solar in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals #AceFinanceDesk – @AceFinanceNews

#AceFinanceReport – May.12: Companies led by SoftBank Group Corp. of Japan and Taiwans Foxconn Technology Co. Ltd. are bringing India some of the cheapest solar power in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals #AceFinanceDesk

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SoftBank and Foxconn Bring India Some of World’s Cheapest Solar Companies led by SoftBank Group Corp. of Japan and Taiwan’s Foxconn Technology Co. Ltd. are bringing India some of the cheapest solar power in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals.

In two auctions this week for renewable-energy power-purchase contracts, bids from companies to supply clean electricity slid to as little as 3.8 cents a kilowatt-hour. The record is sharply below the previous bids around 5 cents and within striking distance of the lowest recorded bids in the United Arab Emirates and Chile as of quarter three of 2016, according to Bloomberg New Energy Finance.

India is already among the most competitive generators of solar power after establishing auctions for capacity that drew capital both from western utilities and from development banks anxious to help Modi clean up his country’s notorious smog. Each new auction over the past two years has helped India’s renewable-energy generators close the gap with the lowest cost fuels such as natural gas and coal, said Shantanu Jaiswal, an analyst for BNEF in New Delhi.

“The low bids leave very little cushion for absorbing any unforeseen expenses, and thus pose a risk for investors and lenders,” Jaiswal said, adding that several new power producers have successfully underbid incumbents to gain entry into India’s rapidly expanding solar market.

In a contest to win contracts for 500 megawatts of solar capacity through a competitive tender, India’s Acme Group quoted 2.44 rupees (3.8 cents) a unit to win 200 megawatts. SBG Cleantech Ltd. — the clean-energy joint venture between Japan’s SoftBank Group Corp., India’s Bharti Enterprises Pvt. and Taiwan’s Foxconn Technology Group — quoted 2.45 rupees to scoop up the remaining capacity, said Sanjay Sharma, general manager at the Solar Energy Corp. of India, the government agency for renewable targets in India.

The projects will be built in the sunny state of Rajasthan in the Bhadla solar park.

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On Wednesday, the price of solar power in India fell to 2.62 rupees a kilowatt-hour in a competitive tender for contracts to build 250 megawatts in the same solar park.

Of the total 750 megawatts auctioned this week in two federal tenders, including today’s, conducted by the Solar Energy Corp. of India, SoftBank’s India clean energy venture scooped up a total of 400 megawatts quoting lowest tariffs.

Friday’s auction was the third for solar this year. The first, held in February, brought down solar tariffs to 3.30 rupees (5 cents) a kilowatt-hour, from 4.34 rupees (7 cents) a year earlier.

India is among a growing list of countries stretching from Asia to Europe and South America that have used auctions to make clean energy more affordable. Modi’s government has an ambitious plan to install 175 gigawatts of renewable capacity by 2022 to meet the fast-growing country’s electricity needs and to curb pollution.

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BEIJING, China. Blocked from investing in US and Chinese investors cancel contracts and look to Israel for sealing deals worth $16.5-billion #AceFinanceDesk – @AceFinanceNews

#AceFinanceNews – May.12: Struggling to seal deals in the United States as regulatory scrutiny tightens, Chinese companies looking to invest in promising technology are finding a warmer welcome for their cash in Israel #AceNewsDesk

Blocked From US Tech Investing, China Goes To Israel Instead
Published on May 12, 2017 at 08:00AM From a report: Unfazed by this change, which was brought on in part by a new administration focused on US protectionism, Chinese investors are putting their money in Israeli companies instead.

Last year, Chinese investment in Israel surged tenfold to $16.5 billion, a record, with money going to Israeli internet, cybersecurity and medical device companies. In contrast, Chinese investors scrapped a record $26.3 billion in previously announced US deals.

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IMF Proposed a Capital Levy – Tax on Money in Bank Accounts & Raise Property Taxes Armstrong Economi cs reports #AceFinanceDesk – @AceFinanceNews

#AceFinanceReport – May.12: The International Monetary Fund (IMF) is always the cheerleader to raise taxes to support government. They are instructing Germany to raise taxes and also talking about just imposing a 10% tax on all money that deposits in banks throughout Europe. Yes – you read that one correctly.

Armstrong Economics: IMF Proposed a Capital Levy – Tax on Money in Bank Accounts & Raise Property Taxes the IMF has told Germany it should raise its property tax, cut social welfare contributions and invest more to reduce income inequality. The demands are contentious in an election year. Once again the IMF has demanded higher taxes on savings deposits in Germany. Germany must do more for to raise taxes to impose more socialistic idea to somehow tax the rich to create a broader participation of all citizens in the fruits of economic growth, if somehow raising taxes actually ever creates economic growth. The IMF warns that there is a relatively high tax burden on lower incomes with a comparatively low burden on assets.

The IMF argues for higher taxes on property are in fact necessary and that the government should demand higher wages to also give impetus to the growth in Germany, yet this is magically creating no inflationary impact. Years ago, Italy simply imposed a tax on money in one’s account. This was called a “capital levy”. This was a one-time charge as an exceptional measure to restore the sustainability of the debt. The IMF is also suggesting that measure be invoked to help the coming Sovereign Debt Crisis. The attractiveness of such a measure is that such a one-time tax can be levied before a tax evasion can even occur, especially if cash is eliminated and money can only exist in bank accounts. This requires the belief that this measure is unique and never repeated.

The IMF has already calculated how much the measure would cost every Eurozone citizen:

“The amount of the tax would have to bring the European sovereign debt back to the pre-crisis level. In order to reduce the debt to the level of 2007 (for example in the euro area countries), a tax of about 10 percent is needed for households with a positive asset. “

As you can see, there is NEVER any discussion about reducing taxes or the size of government. The solution is always to raise taxes and to not even look at the old Italian trick of a 10% seizure of all cash in your account. We highly recommend to diversify to assets that are MOVABLE and not subject to taxation merely to possess.

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WASHINGTON: ACA higher price hikes likely for government insurance markets as many companies are eyeing chances to increase profits #AceFinanceDesk – @AceFinanceNews

#AceFinanceNews – May.11: Early moves by insurers suggest that another round of price hikes and limited choices will greet insurance shoppers around the country when they start searching for next year’s coverage on the public markets established by the Affordable Care Act (ACA) #AceFinanceDesk

WDTN reported that more price hikes likely for government insurance markets as many Insurance companies are still making decisions about whether to offer coverage for individuals next year on these markets, and price increase requests are only just starting to be revealed by state regulators.

Fox News reported that Insurer Aetna announces that it is leaving all ObamaCare exchanges next year, a move HHS Secretary Tom Price says “adds to the mountain of evidence that Obamacare has failed the American people.” But in recent weeks big insurers like Humana have been dropping out of markets or saying that they aren’t ready to commit.

And regulators in Virginia and Maryland have reported early price hike requests ranging from just under 10 percent to more than 50 percent.

Increases like that will probably will be seen in other states, too, as insurers set prices to account for uncertain support from a federal government led by a new president who wants to scrap and replace the law, said Sabrina Corlette, a research professor at Georgetown Health Policy Institute. “For the consumer, they’re going to see big rate hikes,” Corlette said.

Prices for this type of insurance is already are being affected by evaporating competition.

With the latest departures, more than 40 percent of U.S. counties would have only one insurer selling coverage on their marketplaces for next year, according to data compiled by The Associated Press and the consulting firm Avalere.

That assumes no other insurers leave and none step in by the time customers start shopping for coverage in the fall.

These state-based marketplaces, known as exchanges, were established by the Affordable Care Act as a place for customers to compare prices and buy coverage, often with help from income-based tax credits. They provided coverage for about 12 million people this year.

The idea was that competition for customers would keep prices low. But insurers faced big losses in some markets, and they got less financial support from the government than they expected.

They’ve been raising prices and pulling out of some markets altogether in response.

When insurers leave, prices rise. Insurers face less pressure to drive down prices to attract customers, and they also have to raise rates because they must cover all the sick patients who apply in that market.

The median coverage price this year for one typical plan was about 67 percent higher in marketplaces with one insurer compared to those that had six or more, according to a study by the non-profit Urban Institute. Those plans are used as a benchmark to calculate the tax credits that help people buy coverage.

Insurers are also now also concerned about the uncertain future of the Affordable Care Act, as Republicans in Congress hash out a plan to replace the law. President Donald Trump has repeatedly predicted the demise of the law and its exchanges, and insurers are concerned about the fate of two provisions that keep the market working: a government subsidy that makes coverage more affordable, and a mandate that all people get insurance or pay a fine, which keeps costs lower by mixing healthy and sick people together.

“Everything might be worse everywhere,” said Katherine Hempstead, a senior adviser with the Robert Wood Johnson Foundation, which studies the Obama-era health system and health care issues.

The nation’s third-largest insurer, Aetna, said Wednesday that it will completely leave the exchanges for 2018 after projecting a $200 million loss for this year. The insurer once covered more than 800,000 people through that marketplace, but it says steep losses have forced it to rapidly scale back. It sold coverage in four states for 2017, down from 15 the previous year.

Aetna joins Humana, which said earlier this year that it would abandon selling that kind of coverage, a decision that temporarily left 16 Tennessee counties with no individual Affordable Care Act options for 2018.

Insurers can decide to expand into new markets. For example, BlueCross BlueShield of Tennessee recently said it would serve those abandoned 16 Tennessee counties, but health policy experts do not expect it to happen very often because it is so expensive to launch coverage into new markets, especially at a time when the federal rules are in flux.

Some customers will be shielded from these price hikes by tax credits based on their income, but there are millions of customers who buy individual coverage without government help.

Customers won’t know for several more months for sure what their options are for next year. For now, eight states appear to be down to one insurer: Alaska, Alabama, Delaware, Missouri, Nebraska, Oklahoma, South Carolina and Wyoming.

Shoppers in Iowa also may be stuck with limited or no choices next year. Aetna is leaving that market, too. Wellmark Blue Cross and Blue Shield also said it will leave that state’s individual market after only a year on it. Another insurer, Medica, said earlier this month that its “ability to stay in the Iowa insurance market in any capacity is in question at this point.”

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BRITAIN: Aldi plans UK supermarket for every 30,000 people in each town or city in largest expansion of the grocery market #AceFinanceDesk – @AceFinanceNews

#AceFinanceNews – May.11: Ambitious expansion drive by UK’s fifth-largest grocer means some towns such as Watford could have up to eight stores in future #AceFinanceDesk

Guardian reported that Aldi plans UK supermarket for every 30,000 people Aldi has set out an ambitious plan to conquer the UK grocery market that could see it open up to eight stores in some towns.

If you look at the population, we think not only could we have a store in every town and city, but for every 25,000 to 30,000 people,” said Matthew Barnes, the UK and Ireland chief executive of the German grocer.

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