` US Fund Managers Commenced Warning their Investment Shareholders of Risk to Stocks over Sanctions’

#AceFinanceNews – UNITED STATES – April 21 – US fund managers have warned of risks shareholders could face from current or future Western sanctions against Russia, as Washington move to impose more sanctions on Moscow over their dispute on Ukraine.

Since April 4, securities filings have outlined potential problems for funds including the $124.6 million ING Russia Fund, the $841.1 million SSgA Emerging Markets Fund and a number of iShares exchange-traded funds offered by BlackRock Inc.

The filing for the SSgA fund noted that sanctions by the US or the European Union could result in the depreciation of the Russian currency, Reuters reported Friday.

According to the report, US securities regulators contacted fund firms with holdings in Russia last month to make sure they were properly managing risk and disclosing the assets to investors.

US has however promised that if the situation does not get sorted in the Ukraine, they will consider further sanctions on funding and other financial institutions.

#AFN2104

#afn2014, #european-union, #moscow, #russia, #russian, #united-states, #us, #washington

US Tracing Vladimir Putin’s Secret Bank Accounts and Sanctions on John Mc Cain ‘

#AceFinanceNews – MOSCOW – April 20 – The report in The Times on potential sanctions targeting President Vladimir Putin’s alleged secret personal wealth, is “apparently a hoax” presidential spokesman Dmitry Peskov told Ekho Moskvy radio.

In the article it claimed the president had $ 40 billion in the accounts in Swiss banks. Presidential spokesman denied the presence of Vladimir Putin that kind of money.

In an interview with “Echo of Moscow” Dmitry Peskov said that the president should not fear sanctions. Earlier, the U.S. imposed sanctions against several dozen Russians, including the environment of Vladimir Putin.

“Why would anyone be scared of sanctions, especially as absurd as these?” Peskov commented.
“This can only be joked about.”

Washington, D.C. – U.S. Senator John McCain (R-AZ) today released the following statement on being sanctioned by Russian President Vladimir Putin:

“I guess this means my spring break in Siberia is off, my Gazprom stock is lost, and my secret bank account in Moscow is frozen. Nonetheless, I will never cease my efforts on behalf of the freedom, independence, and territorial integrity of Ukraine, including Crimea.”

The British newspaper reported that American financial investigators, who previously traced Al-Qaeda funding, would find the secret $40 billion of Putin’s money in numbered Swiss bank accounts, so that it can fall under US sanctions.

More soon ………………………………

Ace Related News:
1. PRESS RELEASE – John Mc Cain – http://www.mccain.senate.gov/public/index.cfm/press-releases?ID=fb0cfcb4-99c3-4ee5-b4ee-c761faa766a3

#AFN2014

#al-qaeda, #british, #dmitry-peskov, #gazprom, #moscow, #president-vladimir-putin, #us, #us-senator-john-mc-cain, #washington

` Ukraine meets all conditions for the `First Tranche of Financial Assistance ‘ from the IMF by end of April ‘

#AceFinanceNews – WASHINGTON – April 11 – Ukraine’s parliament-appointed Finance Minister Oleksandr Shlapak, claims that Ukraine has complied with all terms necessary for getting the first tranche of financial assistance from the IMF.

“We are here for a more specific discussion of the time and conditions of [international] support,” Shlapak told the media in Washington where the spring meeting of the IMF and World Bank is under-way.

“Moreover, Ukraine has met all of the IMF conditions for getting the first tranche.”

The IMF earlier said it would be prepared to extend to Kiev $14-18 billion within the framework of overall international assistance of $27 billion within two years.

IMF Managing Director Christine Lagarde said on Thursday the Fund’s program for Ukraine might be presented to the IMF Board of Governors late April or in early May.

#AFN2014

#imf, #international-monetary-fund, #ukraine, #ukraines, #washington, #world-bank

“ Russian Subsidiary of US-Based `Hewlett Packard Admits Giving Bribes to Russian Officials for Contract ‘

#AceFinanceNews – WASHINGTON – April 10 – The Russian subsidiary of US-based Hewlett-Packard Company (HP) has admitted its guilt on charges of US authorities of giving bribes to Russian officials in order to secure a beneficial state contract.

This was reported by the US Department of Justice, which investigated this case together with the FBI, California Prosecutor’s Office and US Internal Revenue System.

According to the documents presented to California’s northern district court, the Hewlett-Packard (A.O. CJSC) , registered in Russia, has violated the Foreign Corrupt Practices Act.

Similar charges are brought against the sub-divisions of the US-based company in Poland and Mexico. According to the estimates of the US Department of Justice, Hewlett-Packard and its subsidiaries will have to pay fines in the overall amount of $108 million.

Bribes given by the company to Russian officials and transferred to banking accounts of front companies related to these officials are also estimated at millions of dollars. This was made in order to secure a state contract for office automation and providing computing equipment to one of the Russian federal institutions in 1999 at the amount of $100 million.

In addition, Hewlett-Packard employees expected that after the first contract, there would be additional agreements amounting to $150 million.

“Hewlett-Packard subsidiaries created a slush fund for bribe payments, set up an intricate web of shell companies and bank accounts to launder money, employed two sets of books to track bribe recipients, and used anonymous e-mail accounts and prepaid mobile telephones to arrange covert meetings to hand over bags of cash,” stated Deputy Assistant Attorney General Bruce Swartz.

Meanwhile, Valerie Parlave of the FBI’s Washington Field Office said that attaches for legal issues in US embassies in Moscow, Warsaw, Mexico City and Berlin participated in the investigation of these cases.

Russian and US News Sources

#AFN2014

#fbi, #foreign-corrupt-practices-act, #hewlett-packard-company-hp, #hewlett-packard-a-o-cjsc, #russia, #russian, #washington

` Ukrainian Firtash has been `Indicted ' with ` $185 Million Bribery Charge ' over `Access ' to ` Titanium Mines ' in India '

#AceFinanceNews – WASHINGTON – April 03 – Dmitry Firtash, one of the most influential Ukrainian oligarchs, was charged with bribing Indian officials to gain access to titanium mines in India, the U.S. Justice Department said in a press release on Wednesday http://www.justice.gov/opa/pr/2014/April/14-crm-333.html

Six people Firtash, a Hungarian entrepreneur, another Ukrainian citizen, an Indian politician and two businessmen from India and Sri Lanka are under investigation. U.S. prosecutors said that about 18.5 million dlrs had been handed over to Indian officials since 2006 to secure rights to mine titanium in the Indian state of Andhra Pradesh.

http://www.trbimg.com/img-533c2ce7/turbine/chi-pdf-dmytro-firtash-indictment-20140402

The mining project was expected to generate 500 mln dlrs annually from the sale of titanium, including to a company based in Chicago.

Prosecutors said Firtash had negotiated with Indian officials and ordered to pay them in exchange for preferences to secure mining licenses, and documents were falsified, on his instructions, for the money transfer.

The investigation was conducted by the FBI in Chicago.

On March 21, Firtash was released in Vienna on a 125-Million euro bail from custody. He was held there after he was detained at the request of U.S. law enforcement authorities #ANS2014 http://wp.me/pzTwj-2FR

As was noted in the United States, Firtash was a major player in the sale of Russian gas to Ukraine.

#AFN2014

#chicago, #dmitry-firtash, #fbi, #ukrainian, #united-states, #us-justice-department, #vienna, #washington

` 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

#AFN2014

#democratic, #district-of-columbia, #reuters, #washington, #washington-post

` Russia's involvement in ` Afghanistan ' appreciated by ` Karzai ' confirming how ` Soviet Money ' was Spent – Interview '

#AceFinanceNews – WASHINGTON – March 22 – Afghan President Hamid Karzai appreciates the economic help provided by the former Soviet Union to his country in the past.

“The Soviet money went to the right place.

They were efficient in spending their money and doing it through the Afghan government,” Karzai said in an interview with The Washington Post this month.

The newspaper said that the Russian government had drawn up a list of 140 Soviet-era projects which it would like to renovate.

One is the Kabul House-building Factory constructed in the early 1960’s by Soviet specialists, which received a consignment of new equipment worth 25 million U.S. dollars from Russia last autumn.

The Washington Post quoted the head engineer of the house-building factory as saying that “what the Soviets did here was really fundamental.

They were thinking about the long term.”

It also noted that the number of students studying Russian at the Kabul University had doubled over the past two years, and Russia had doubled the number of grants to Afghan students.

The Washington Post (Exclusive)

#AFN

#afn2014, #afghan-president-hamid-karzai, #afghanistan, #kabul, #russia, #russian, #soviet, #the-washington-post, #washington

#AceFinanceNews Moscow March 19 The Council of IMF…

#AceFinanceNews – Moscow – March 19. The Council of IMF and World Bank Governors and a meeting of the G20 financial ministers and central bank governors will be held in Washington on April 11-13.

Storchak cited the financial crisis in Greece, which was discussed within the G20 in terms of its influence on financial stability in general.

Ukraine will not be in the focus of the G20 financial meeting in Washington in April, Russian Deputy Finance Minister Sergei Storchak said “We believe that the G20 remains a club for discussing and preparing decisions on economic issues and financial markets. This is our position,” he said. He also noted that an IMF loan to Ukraine would not be on the agenda of the Washington meeting. “The IMF has a delegation in Kiev, the delegation will return and propose a program,” Storchak said, adding that the decision to issue an IMF loan to Ukraine was in the jurisdiction of the IMF governors. #AFN2014

#g20, #imf, #international-monetary-fund, #kiev, #moscow, #ukraine, #washington, #world-bank

` Austrian Court has ruled to release Ukrainian Oilgarch `Dmitry Firtash ‘ on a 125 Million Euro’s Bail ‘

#AceFinanceNews An Austrian court has ruled to release Ukrainian oligarch Dmitry Firtash on a 125 million euros bail, but ordered him to stay in the country pending US extradition.

Earlier it was reported that Austrian authorities detained the Firtash, on charges of bribery at the request of Washington.

The detained Ukrainian national is believed to have business ties with the ousted Ukrainian president, Viktor Yanukovich.

Police claim that the arrest of the entrepreneur is not linked to the Ukraine crisis.

The Austrian authorities noted that the FBI has been investigating Firtash since 2006, and that an arrest warrant had been issued for him by a federal judge in Virginia, the.

The Group D, owned by the Firtash confirmed his arrest in Vienna, saying that the incident was a “misunderstanding” and will cleared in the “near future.”

Related links: March 13 http://wp.me/pzTwj-2Ea

#AFN2014

#austrian, #dmitry-firtash, #ukrainian, #viktor-yanukovych, #washington

` US President Barack Obama and European Union Leaders promise to remove all tariffs on `Bilateral Trade at Summit ‘

#AceFinanceNews US President Barack Obama and European Union leaders will promise to remove all tariffs on bilateral trade at their summit on March 26, Reuters reported, citing a draft statement.

The joint declaration is likely to overcome tensions following Washington’s offer to cut its duties by less than the Europeans had hoped for.
Also, Brussels pledged to remove almost all of its own tariffs.

“The EU and the US are firmly committed to concluding a comprehensive and ambitious Transatlantic Trade and Investment (TTI) .

#AFN2014

#brusselss-european, #eu, #european-union, #reuters, #transatlantic-trade-and-investment-tti, #us, #us-president-barack-obama, #washington