First phase starts to redeem bonds adjusted by CER
From today until Monday, September 7, the Government will implement the exchange of short-term bonds adjusted for inflation and Guaranteed Loan Bonds in weights tied to rate 275 basis points more Badlar due 2014 (Bocan 2014).
The operation seeks to recall up to 9,000 million pesos in Debt Consolidation Bonds Previsionales-fourth installment in pesos (pre9) and Supplier Consolidation Bonds-fourth sets of weights-(PR12).
Tenders must be submitted through agents and brokerage firms, or through open market agents, indicating the original face value of “eligible tool”, stressing that the “new instruments” will be presented to their original nominal value in dollars, Economy Ministry said. The minimum bid was set at 10,000 pesos / dollars of original face value.
According to technical relations established by the Ministry of Finance (arising from the ratio of market prices) to get 100 pesos for 2014 Bonar pre9 holders must deliver securities by the equivalent weight 117.32772. In the case of holders of PR12, the swap will be for the equivalent weight 128.41176.
The Government will reduce the stock of debt due to redeem bonds at a lower parity which are being issued new ones. This reduction will depend on the amount finally enter into the transaction.
At the same time, the exchange will reopen Economy finalized earlier this year to win the remaining two sets of Guaranteed Loans. In this case, the exchange ratio was established and 264.31743 dollars for the Global PG TF and 08 pesos for 263.23616 Global PG 08 TV.
In parallel, also from today will launch Business exchange of the remaining four series of Treasury bills (Treasury bills) which were in default since 2001, delivering Discount bonds in exchange of the exchange of 2005 with the same off then: 66 percent.
In addition, the newspaper El Cronista Comercial, in a second phase of debt swap that could be launched by mid of next week, the Government would seek to withdraw Boden 2014 and other three series of Guaranteed Loans (09, 12 and the so-called “Republic of Argentina “) by delivery of a new series of Bonar, also adjusted for Badlar but due 2015.
The aim of this series of transactions to refinance debt by more than 20,000 million pesos due in the next two years and are tied to the evolution of inflation.
2.3 million euros for highly indebted municipality Groß Kreutz
The money was granted for the repayment of two loans. Linked to this are numerous constraints to improve the financial situation and the economy, says the statement continues.
Gross Kreutz, for example, had to adjust its taxes to the average tax collection rates of other municipalities. In addition, there is a review of the allowances for the political leaders.
The Ministry points out that the financial needs of the community were not fully met. Gross Kreutz must first exhaust its own possibilities for consolidation.
The per capita debt is almost twice as high at Euro 1435 as the national average. Money from the fund would have received in the past year, 13 municipalities, 2 cities with district and 7 structurally counties. A total of 84.6 million euros were shed.
What look for when car loan?
In the current financial situation of the car manufacturers are pretty big discounts given. Therefore, it is advisable to look around for a good car to date. Basically, there is the option of buying a car by car makes sense to optimize credit. If more funds are missing, which is helping to finance the vehicle, it is recommended to supplement these missing amounts with a car loan. These are usually around humming that may have a height of several thousand euros and can thus be perfectly applied by a medium-sized loan.
This has particularly emphasized Plus Credit Bank, which with optimum credit offers in the range of up to 50,000 euros really good financing options for a car loan offers. The lowest amount that can be taken as a loan, is just 500 euros.
Between 500 and 50,000 euros each amount may be included, which means that here the flexibility needed credit can be included. The effective interest rates start at 3.59% per year, which is an extremely good offer. In terms of duration, it is possible that these may be chosen from 12 to 84 months.
It should be taken that are elected for a period and a high rate, which is to be paid well. In the calculation of a specific loan offer help, for example, online calculator, available on the website of the Bank of Credit Plus is available and can be used free of charge.
Credit Plus – Specialists in car loans
The car loan is one of the loans that are taken most often in conjunction with the Bank of Credit Plus. At the bank’s primary concern is that a short-term credit may be added, which also is not too expensive. It is worthwhile here to analyze, with which offers can be benefited from the interest rate to 3.59% per annum effective and which offer the interest rate is higher. Higher interest rates, however, are all within a framework that is not very high and demands not significantly higher costs.
ThyssenKrupp sees further consolidation needs for stainless steel
The steel group ThyssenKrupp expects further consolidation in the steel industry needs. Despite a brightening of the market must further consolidate the sector, “said Alan Hippe, chief financial officer of Duisburg and Essen-based company, on Friday in a conference call for analysts.
Qatar participates in Porsche SE and assumes Options
The entry of Qatar at the Porsche Automobil Holding SE is perfect. The Doha, Qatar Holding LLC will acquire 10% of the common shares in the possession of the family shareholders, as announced by Porsche Holding. Had been told the families Porsche and Piëch with Qatar Holding agreed.
VW needs 4 billion of fresh money for Porsche’s acquisition
To finance the acquisition of the sports car maker Porsche, Volkswagen AG is planning a billion-dollar increase in funding. Europe’s largest automobile company will propose to the Annual General Meeting a capital of 4 billion, said Chief Financial Officer Hans Dieter Poetsch in Wolfsburg.
Conflict of Kuka and Grenzebach could soon have human consequences
In the dispute of the Kuka robot and plant engineering company with the major shareholder Grenzebach early personnel implications are not at the helm of the Augsburg unlikely. The question was how long the current board members “want to do that yet,” said Kuka Rolf Bartke, Chairman of the Board in a conference call.
Moody’s lowers Continental to “B1″ – outlook remains negative
Moody’s Investors Service lowered the Corporate Family Rating (CFR) Continental AG to “B1″ from “Ba3.” The outlook remains negative, the rating agency said on Friday. .
Roth & Rau book lower than expected profit decline in 2Q
Despite the continuing weak willingness to invest in the solar industry, Roth & Rau AG has achieved a profit in the second quarter exceeded expectations. Net income fell to 4.27 (5.59) million, as the company announced. Analysts had expected only 3.6 million euros. Revenue fell to 50.9 (59.7) million, below the consensus estimate of 55 million euros.
HSH: Request for performance guarantee provided for Hapag-Lloyd
Once the shipping company Hapag-Lloyd himself has secured further support from its shareholders, the application was filed on government assistance now. This was confirmed by a spokesman for HSH Nordbank AG upon request by Dow Jones Newswires. The long-term approach for the Hapag-Lloyd AG provides for a total capital of 1.95 billion euros. The shareholders will contribute EUR 750 million, EUR 1.2 billion will be secured by government guarantees.
Qimonda Further an offer from Russia to the table
The insolvency of Qimonda AG has been no concrete signals from Russia about a possible introduction of an investor. “The thread of conversation to Russia has never stopped, but there still is no offer on the table,” said the spokesman for administrator Michael Jaffé upon request by Dow Jones Newswires.
MVV Energie has no interest in other companies Thüga
The public utility MVV Energie has no interest in acquiring the remaining shares of companies offered for sale by Stadtwerke Holding Thüga. “I can not imagine that it would carry us to enter in the remaining Thüga companies,” said the MVV CEO George Mueller during a conference call with analysts.
Composite hopes for hydropower projects on better environment
Against the backdrop of a difficult financial environment keeps the Austrian electricity provider network is limited on to his scheme for expanding hydropower. Effects of poor economic conditions were, however, for new projects that need to be shelved for the time being, “said Herbert Schröfelbauer, Chief Director of the Verbund Austrian Hydro Power subsidiary (AHP), to Dow Jones TradeNews Energy.
Vienna International Airport does not manufacture SkyEurope aircraft from more
Flughafen Wien AG will discontinue the release of the planes of SkyEurope Airlines. After the Slovakian budget airline had failed to appear for the settlement of debts due to the present 15.00 clock would be provided, as of today Friday, 24.00 Clock, SkyEurope aircraft neither cleared nor other services, has notified the airport.
Federal government reaffirms commitment of 1.1 billion euros for A350
Germany has captured after the British promise of a loan of GBP 340 million to develop the Airbus A350 hard to offer the aircraft for the project, 1.1 billion euros. “The federal government is in principle prepared to provide a WTO-compliant development loan of 1.1 billion euros,” said the competent Economic Secretary Peter Hintze in Berlin.
Gas venture called Centrica bid as too low
The British gas company Venture Production has rejected the takeover offer of the British utility Centrica as “clearly too low.” Centrica offering 845 pence per share, bringing the venture round GBP 1.3 billion for the company. The supplier has extended its offer.
Vattenfall does not provide for Polish Enea
The Swedish energy group Vattenfall has made no indications according to its own bid for a 67% stake in the Polish utility Enea. The company was recently listed as a favorite for a quote in the invitation of the Polish Finance Ministry, as it had already acquired in November last year, 18.7% at Enea.
Ascom gehts gut despite crisis By Hans Galli.
In previous years, an economic crisis like the present to the Ascom Group to the brink of disaster would have brought. But this time it’s different: The net profit has increased in the first half by as much as 4.8 million to 11.9 million francs.
The Group owes this to the timely initiated restructuring. The loss-making areas were sold in 2008. Left behind were the key strategic divisions. These specialize in telecommunications solutions for safety reasons, always have to work – for example in hospitals, the fire brigade or the military. This has two advantages: First, the small Ascom can compete in these niches at the top, and second, these markets are limited to cyclical. The army does not depend on the economic situation.
The Ascom Group is by no means been unscathed by the crisis: the half-year sales fell by 5.6 percent to 235 million francs. Included in that is a monthly turnover of the newly consolidated subsidiary of Swedish Tems. At unchanged exchange rates, consolidated sales would have stagnated: the negative impact has been the weaker euro.
The recession but has also left traces on the profit side, which is covered by special events. From ongoing operations of the Ascom has achieved in the previous year, namely a profit of 14.1 million francs. But a loss of 7 million francs from discontinued operations has been halved profits.
In addition came in the first half of 2009, half of the Group profit for the financial result. This was supplemented through the revaluation of hedging transactions and loans, and lower taxes, as said CEO Riet Cadonau told the media in Zurich.
Hope for better economic
Given the economic environment had the Ascom well in the current year. But their medium-term objectives, they could only be achieved if the economy is recovering, led Cadonau further.
That is the objective set a year ago: in 2010 an operating result (EBIT) of 10 percent of sales. In this regard, gabs in the first half of 2009, a setback: The EBIT margin fell from 6.7 percent to 3.1 percent.
Consolidated revenue without NeuWerbung must grow by 5 percent, so that the formula “10 percent EBIT subsumed in 2010″, said Cadonau. With an economic boom but was earliest in the course of next year to be expected. Thus, the turnover is expected to be lower in 2009 from the existing business up to 10 percent than last year. Inclusive of Tems but he is expected to rise. Tem provides testing for mobile networks.
Other major acquisitions in health care plans to Ascom. Preferred candidate: providing a firm offering alarm systems for seniors.
Strong growth in 2009
Shareholders have rewarded the progress made by Ascom: The share price has risen since the beginning of the year by about 60 percent to 13 francs. The title belongs to 2009 most of the winners. Yesterday gabs but a small setback.
Free services Finance Gold in Gdansk
Warsaw 96’s first branch in Gdansk Gold Finance. Outlet as 23 in Poland will be free to advise clients in day-to-day financial decisions.
- Is developing very dynamically, winning the confidence of a growing number of customers. With our financial services have already reached all the biggest cities in Poland, among them, of course, could not run out of Gdansk. The rich offer of the most cherished institutions, and professional help in making financial decisions is now available to all its inhabitants. The success of missions in Gdansk and other cities, encouraged us to further development – says Lukasz Błażejewski, President of Gold Finance.
Experts Gold Finance shall monitor the situation on financial markets and to examine trends among suppliers of financial services. In a specially prepared offer customers from Gdańsk will be able to find a suitable mortgage for you, life insurance, pension plan or make amendments to an existing consolidation loan for credit or refinansowy. New Finance Offer Gold also includes the leasing of machinery, equipment manufacturing, real estate and cars.
Gold Finance Advisers are waiting for the inhabitants of Gdansk in a street. Warsaw 96. For free financial advice Gdańszczanie will be able to benefit from Monday to Friday from 8 – 20 hours Saturday and 10 – 14. Finance Advisor Gold also come to a meeting
client at home, office or any other designated place.
More and more difficult for a good consolidation loan
You Dopadł crisis, and your income dropped barely paying the advice of several made in a time of prosperity loans? You can replace them in one – the so-called. consolidation, which will adjust the amount of earnings to the current installment. But beware – it appears right now that banks are less willing to grant loans of this type.
More and more difficult
As is clear from the latest statement, prepared by the newspaper to our experts Finamo companies, consolidation loans to give out only a dozen of Polish banks.
- Several banks recently acknowledged that in times of crisis, the risk is too great, and waived any provision of this type of credit, but also those that continue to grant them – zaostrzyły carefully review the conditions and customers. As a result, more and more people the answer is negative – Majtkowski Paul speaks of Finamo. I added that in the future of the consolidation loan can be even harder.
As is clear from a recent report InfoDług in Poland is 1.36 million people who have defaulted on repayment of its financial obligations and the total amount of past due liabilities exceeded 9.87 billion zlotys. It is twice more than two years ago.
- It may be that further banks consider that the risk is too great – the Majtkowski .
New products in Finamo
Finamo starts Meritum cooperation with the bank. For customers Finamo consolidation loans are loans and cash of the bank. At the same time, the company extends the offer for another product BGŻ Bank and Bank BPH.
Bank Meritum consolidation loan is granted, even for 96 months. The maximum loan amount is 120 thousand. In the event that proof of income and 15 thousand. PLN statement. Customers can also use the cash from the credit lending to 60 months and the maximum amount of 60 thousand. €. Interest rates on loans in the Bank Meritum ranges from 14.9 to 18.9%.
Finamo enriched its offer consolidation loans for another product BGŻ Bank – cash loan without a security for repayment of credit obligations under the credit transaction. Credit is given for up to 72 months. The amount of the credit ranges from 10 thousand. to 50 thousand. PLN, and the rate of 18-19,5%. If the customer decides on the crediting period and annual interest rate from the top of the amount of interest rate is fixed at 11.50%.
At the same time, another credit Finamo implemented in your family. This time it is a product offered by Bank BPH. Credit is granted up to 80% of the value of the property, with margins of 2.9 to 3.4. This is the sixth loan payments in the Treasury Finamo offer.
Finance companies and institutions that have no access to bank credit
The program aims at strengthening social organizations, governmental agencies and networks. Aims to consolidate production, trade, services, and encourage the productive development of local and regional economies.
Force general manager of Solidarity, an innovative structure for the financing and advising companies and institutions who have no access to formal credit, Oscar Navas, met with Senator Nestor Tandil Auza: progress on various projects that could benefit with this tool (funding and training) and visited the cooperative Impopar, the first local company which was already a line of credit from the efforts of the legislature tandilense. A very good impression of the officer was one of the “recovered” more successful in the province.
Solidary Force is an initiative of the Government of the Province of Buenos Aires, Banco Provincial Institute and State Lottery and Casinos, whose main objective is to provide financial and technical assistance for an important segment of the population has no access to formal credit, for incorporation into the financial system and facilitate greater participation.
The program aims at strengthening civil society, government, networks, agencies, with the aim of consolidating the different productive activities, trade, services, and encourage the productive development of local and regional economies.
This tool is not yet fully developed, but it is highly promising for the first steps taken to date. Just a quick run through their website to learn about the institutional scale of social and business objectives covered and unorthodox sources guarantees that manages to differentiate itself from the traditional sources of bank credit.
Senator Auza saw this in an alternative tool with great potential impact in the city, particularly to respond to companies and institutions that, while walking on a firm step in the productive land or office, or their present structures do not made “subject to bank credit.” Impopar was the first company to present and from démarches presented personal accompaniment and counter Fernando Rossi, an adviser to the legislature, got the credit. One objective of the visit of Navas was precisely know the company had benefited from the credit line ranging from 30 pesos to 600 pesos.
The objectives of FS
Incorporate an important sector to the formal economy, providing access to credit lines, through public agencies or entities of the community.
Provide technical and financial support to microfinance institutions that finance microentrepreneurs without access to formal credit.
Promote the growth of our economy partnership projects to promote the development of social productive local and regional levels.
Provide funds for entities that manage microfinance programs and project partners in the Social Economy.
FS contains two major funding programs. The first is aimed at strengthening co-operatives and small groups of entrepreneurs and offers lines of credit directly for social economy projects. The second is to micro-credit institutions which provide loans to individual microentrepreneurs.
During the month of December 2008 and January 2009, Force Solidary paid 2.17 billion pesos in loans to various social economy projects and microfinance institutions. This group includes Impopar.
Ivonne Ortega calls foster elections where proposals are made
Opening the XXXIV Meeting of National Directors and Directors of State bodies Presidents of Elections, Gov. Ivonne Ortega Pacheco convened to promote elections in which the proposals are made and ideas over the attacks and assaults.
With authorities of the country’s electoral institutions, Ortega Pacheco said that Mexico and each of its states are now electoral democracies so undeniable in their final stages of consolidation, but it is time that the election is clear that what matters is not the nation and the role of faction.
Adviser to the President of the Federal Electoral Institute, Leonardo Valdés Zurita and the Chairperson of the Electoral Tribunal of the Judiciary of the Federation, María del Carmen Alanis Figueroa, the president said that since the municipalities to the federation, it is indisputable that electoral democracy has come to stay.
Our democracy and has a name, is a young electoral democracy, but we need names and we should choose is that of a democracy faction and sterile discussions of democracy or the country and results, “he said.
The meeting lasted three days Nacional, which delivered several conferences such as “Media, Radio and Television”, “Progress in the field of control,” “electoral Penalties”, “Mechanisms of Direct Democracy and Citizen Participation” and “Regulatory Framework of the pre.
Activities include the book “Democracy and Federalism: the electoral photo ID as a tool for the formal transition to democracy”, among other activities.
For his part, Chairman of the Board’s meeting highlighted IFE authorities of electoral institutions across the country, citing the themes of the times of political parties and authorities in the media and the endorsement of the identification card, as some of the topics to discuss.
“You have to regulate, monitor, protect, define the process that leads to our rulers and leaders of public institutions is important that the origin is positive, purposeful and constructive. We can not ask for public debate, the debate of those who wield power, really change the country, if we sow the spirit of a good democracy since the elections themselves, “added the Governor.
The Chairperson of the Electoral Tribunal of the Judiciary of the Federation, María del Carmen Alanis Figueroa, said that such meetings will help ensure that our democracy will continue with further steps towards progress, so appreciated the participation of directors and its proposals to favor of the country.
In turn, the director of the Institute for Electoral Politics and Yucatan, Fernando Bolio Vales, joined the call for the consolidation of democracy in our country, which held a meeting which he said will continue to work to improve the electoral laws.
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