` California Plan to Spend $600 Million to Build Houses for Homeless Veterans ‘

#AceFinanceNews – CALIFORNIA – June 04 – California residents have voted for a plan to spend $600 million to build houses for homeless veterans.

The state has the highest number of ex-servicemen without a roof in the US – about 25 percent, or 19,000 homeless veterans.

After voters backed the plan in a primary election on Tuesday, the state will sell bonds to build apartments and temporary shelters for qualifying veterans or those recovering from physical injuries or mental health issues, Reuters reported.

#ANS2014

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` Egypt Levies Wealth Tax to Raise Funds for their Social Programmes ‘

 

#AceFinanceNews – CAIRO – May – Egypt’s government has approved a temporary 5 percent tax on the wealthy to collect funds for social programs, Reuters reports.

The tax rise, which will apply to those earning over one million Egyptian pounds ($142,200) a year, still needs to be passed by Interim President Adly Mansour before it can be implemented and will only be applied for a temporary period.

“In pursuit of the principle of social justice, the cabinet has approved the suggested amendment from the finance ministry on the income tax law with regard to implementing an additional temporary five percent tax on income more than one million pounds,” the statement said.

After the army’s ouster of freely elected Islamist president Mohamed Mursi in 2013, a presidential election to be held this month is widely expected to be won by army chief Abdel Fattah al-Sisi.

However, the new president faces severe economic challenges. Egypt’s economy has been hammered for the past three years as turmoil following a mass uprising in 2011, calling for social justice and  better distribution of wealth, drove foreign investors and tourists away.

The country of 85 million has been struggling to  curb a budget deficit that swelled to around 14 percent of GDP last year and is under pressure to cut subsidies that eat up around a fifth of its budget but risks triggering protests if it does so.

REUTERS

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` Turkey sacks Member of its ` Defence Ministry ‘ and makes Reference to Procurement of a Defence Contract ‘

#AceFinanceNews – TURKEY – March 28 – Turkey has sacked Murad Bayar, Defence Ministry under-secretary for the state-run defence industries, Reuters said.

The ministry did not give a reason for the decision, but Bayar had been influential in Turkey’s negotiations with China over the procurement of a missile defence system.

NATO allies voiced concern when Ankara said in September, it had chosen China’s FD-2000 missile defence system over rival offers from the Franco/Italian Eurosam SAMP/T and US-listed Raytheon Company.

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` Grenades are thrown at the offices of `Thailand’s Anti-Corruption Agency ‘ by Protesters over Corruption ‘

#AceFinanceNews – THAILAND – March 28 – Grenades were thrown at the offices of Thailand’s anti-corruption agency, police said on Friday.

The National Anti-Corruption Commission earlier summoned the prime minister to answer charges of dereliction of duty next week, Reuters reported.

Nobody was injured in the overnight attack, the second on the agency’s offices this week.

The commission is examining the alleged failure of Yingluck Shinawatra to stop corruption and stem huge losses in a government rice-buying program.

Ace Related News – March 12 – 09.41 GMT – #AceWorldNews – Bangkok – Rice producers participating in anti-government protest rally in the Thai capital have caused a blackout in the Trade Ministry headquarters, MCOT news agency reported on Wednesday.

In February, the Thai government managed to negotiate with an initiative group of farmers a schedule for paying debts in order to avoid mass protests in Bangkok, where thousands of farmers were ready to go to demand their money to be paid immediately.

Meanwhile, not all the farmers agreed to wait. http://wp.me/pzTwj-2CR

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` Campaign Finance Scandal in ` District of Columbia ‘ has made a Washington Democratic Mayoral Primary a Dead Heat ‘

#AceFinanceNews – WASHINGTON – March 26 – A campaign finance scandal in the District of Columbia has made next week’s Washington Democratic mayoral primary a dead heat, dissolving embattled incumbent Vincent Gray’s lead, a poll showed on Wednesday

Gray, who federal prosecutors have linked to corruption charges, trails city council member Muriel Bowser, with polls showing the challenger having the support of 30 percent of likely Democratic primary voters and the incumbent just 27 percent, the Washington Post survey showed.

Support for Bowser has more than doubled since a January Post poll, while Gray’s backing is unchanged. Eight candidates are running in the mayoral primary and winning that contest is seen as tantamount to winning the general election in the heavily Democratic U.S. capital.

Gray’s reputation was tarnished this month when D.C. businessman Jeffrey Thompson, a former government contractor, pleaded guilty to violating campaign finance laws. Federal prosecutors had accused him of funnelling more than $660,000 through friends and relatives to Gray’s successful 2010 campaign.

Prosecutors say Gray agreed to refer to Thompson as “Uncle Earl” in fundraising conversations to conceal the activities.

Washington Post – Reuters – Survey and Poll News

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United States and European Union : ` Agreed on `Working Together on Possible and Tougher Sanction’s ‘ Including the Energy Sector ‘

#AceFinanceNews – UNITED STATES – March 26 – (Reuters) – The United States and the European Union agreed on Wednesday to work together to prepare possible tougher economic sanctions in response to Russia’s behaviour in Ukraine, including on the energy sector, and to make Europe less dependent on Russian Gas Society.

U.S. President Barack Obama said after a summit with top EU officials that Russian President Vladimir Putin had miscalculated if he thought he could divide the West or count on its indifference over his annexation of Crimea.

Leaders of the Group of Seven major industrial powers decided this week to hold off on sanctions targeting Moscow’s economy unless Putin took further action to destabilize Ukraine or other former Soviet republics.

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` Britain reviews an Agreement it made with ` Rosatom ‘ in Reaction to the crisis in the Ukraine ‘

#AceFinanceNews – BRITAIN – March 25 – Britain is reviewing an agreement it made with Russian state nuclear firm Rosatom on nuclear cooperation, in reaction to the crisis in Ukraine, according to the Department of Energy and Climate Change (DECC).

Britain last November signed an agreement with Rosatom to help the company prepare potentially to enter the UK market.

The DECC said it had put the agreement under consideration over the Crimea situation. “No decisions have been made on how this work will be taken forward,” Reuters quoted a DECC spokesperson as saying. Rosatom has not commented on the statement.

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` South Korea boosts its Air Defences with 40 `Radar Avoiding F-35 fighter Jets ‘ plus their Support Systems ‘

#AceFinanceNews – SOUTH KOREA – 24 March – South Korea expects to pay around 7.34 trillion won (US$6.79 billion) for 40 Lockheed Martin F-35 fighter jets, Reuters said, citing its sources.

The budget to buy the radar-evading F-35s plus support systems was reportedly announced to a committee overseeing military purchases on Monday.

As Seoul boosts its air defences amid simmering tensions in the region, it also confirmed plans to buy four Northrop Grumman Global Hawk unmanned aircraft to monitor neighbouring North Korea.

The deals come as ties between Japan, China and South Korea have chilled over the past year.

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Taiwanese Students protesting ` Trade Deal ‘ with `China ` storm the Legislative Chamber ‘

#AceFinanceNews – About 200 Taiwanese students have stormed the legislative chamber late Tuesday to protest a trade deal with China, which gives the country too much economic influence over its neighbour, Reuters reports.

They were met with police resistance inside, but stood their ground.

The trade deal was initially reviewed by Taiwan’s Nationalist Party without addressing opposition concerns about the country’s economy.

Since the end of the Chinese civil war in 1949, Taiwan’s nationalist government has escaped Chinese Communists to hold dominion over its own land.

China, however, has never formally turned back on its attitude of treating Taiwan as a renegade province, and tactics like military force for restoring ownership have not officially been ruled out.

The two have held their first direct talks in February, widely seen as a progressive step towards diplomacy that goes beyond mere trade relations.

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` Crimea (autonomy seeking independence from Ukraine) hope that ` Ukrainian Banks will not block Crimean Residents’ Accounts.

#AceWorldNews – SIMFEROPOL, The authorities of Crimea (autonomy seeking independence from Ukraine) hope that Ukrainian banks will not block Crimean residents’ accounts.

Otherwise, the autonomy’s government will have to sell Ukrainian state property to make up for these losses, Crimean Prime Minister Sergei Aksyonov said on Saturday, March 15.

He stressed that the Crimean authorities “do not touch by any means” Ukrainian banks’ branches on the peninsula. However, “our main task is to return deposits to people… and if Ukrainian banks do so, that will be one kind of situation.

If they don’t, then we will sell Ukraine’s property to compensate people [for their losses],” he said.

The prime minister reiterated that private property and banks would not be nationalised in Crimea.

“We will only make the decision on health resorts, real estate and other property owned by the Ukrainian state.
This issue will be addressed by a working group after the referendum [on Crimea’s status to be held on March 16,” Aksyonov said.

Much will depend on “how the state of Ukraine acts,” he said. If the Ukrainian authorities cut off electricity or take other steps against Crimea, its authorities will regard this as an act of sabotage, Aksyonov said.

“Future decisions on Ukraine’s real estate [on the peninsula] will depend on that,” he said. The authorities of Crimea (autonomy seeking independence from Ukraine) hope that Ukrainian banks will not block Crimean residents’ accounts.
Otherwise, the autonomy’s government will have to sell Ukrainian state property to make up for these losses, Crimean Prime Minister Sergei Aksyonov said on Saturday, March 15.

He stressed that the Crimean authorities “do not touch by any means” Ukrainian banks’ branches on the peninsula. However, “our main task is to return deposits to people… and if Ukrainian banks do so, that will be one kind of situation. If they don’t, then we will sell Ukraine’s property to compensate people [for their losses],” he said.

The prime minister reiterated that private property and banks would not be nationalised in Crimea. “We will only make the decision on health resorts, real estate and other property owned by the Ukrainian state. This issue will be addressed by a working group after the referendum [on Crimea’s status to be held on March 16,” Aksyonov said.

Much will depend on “how the state of Ukraine acts,” he said. If the Ukrainian authorities cut off electricity or take other steps against Crimea, its authorities will regard this as an act of sabotage, Aksyonov said. “Future decisions on Ukraine’s real estate [on the peninsula] will depend on that,” he said.

Itar-Tass – Reuters – News Sources

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