Monthly Archives: March 2012
Standard and Poor’s has upgraded the “rating” (credit rating) long and short of Civic Banking, after integration with CaixaBank, announced today by the National Securities Market Commission (CNMV) the financial institution.
In a statement, Civic Bank notes that the new credit rating granted to the entity’s long-term BBB-(acceptable quality media), while short-term is set to A3 (right), with positive surveillance perspective (see financial markets today).
On Monday there was an agreement to pay CaixaBank 977 million euros for the purchase of Civic Banking, an operation that will require public support and become the bank of La Caixa in Spain’s leading financial institution by assets (342,000 million), deposits (179,000 million) and loans (231,000 million).
The Disneyland Paris today launched its celebrations for its twentieth anniversary since its opening in the northeast of the French capital, with shows designed specifically for the event.
An evening event entitled “Dreams”, the organizers presented as world premiere, is one of the new park of the U.S. multinational, which opened in 1992 in the town of Marne-la-Vallée about thirty miles from Paris.
In addition, organizers will present new coaches who will participate in the usual parade that took the park’s main avenue of Disney (stockmarket).
Today, Saturday, is provided an opening ceremony of the park with the most recognized Disney dancers and music, the traditional parade and the aforementioned night show, which will be attended by the president of the organization, Philippe Gas.
Euro Disney had in the last financial year that ended last Sept. 30, a loss of 55.6 million euros, 39.3% on the previous year.
The company attributed this decline then the result of falling real estate activities and increased costs for investments in new attractions to capture the interest of park visitors.
Those responsible for Disneyland Paris, which highlight the park as the first tourist destination in Europe, reported in 2011 increased by 600,000 the number of visitors to its facilities to a total of 15.6 million.
The prime ministers of China and Italy, Wen Jiabao and Mario Monti, held today a meeting in the Great Hall of the People in Beijing, where Chinese leader conveyed the confidence of the second largest economy in the Alpine country’s recovery, according to the Xinhua news agency.
“I hope Italy successfully overcome the unfavorable environment of the external economy and achieve growth again, thanks to its strong economic base, its great potential and the reforms it has undertaken,” said Wen, who recalled that the European nation “is a very innovative. ”
Monti said on his part that Italy sees China as a strategic partner, so you want to increase bilateral cooperation for common development.
After the meeting, the Italian prime minister will travel to the city of Boao in China’s tropical Hainan island to attend the economic forum held there every year, focusing primarily on the development of Asian economies (stock market data).
On the eve of the trip, Monti said in an interview with “People’s Daily” (spokesman of the Communist Party of China) that the visit will promote exchanges and cooperation in various areas, including the impetus to plan to double trade bilateral to 60,000 million euros in 2015.
The businessman Carlos Saladrigas called today to “tear down walls” between Cubans on the island and in exile in the United States and demanded that Havana and Washington “normalize the migratory movement” between the two sides of the Straits of Florida.
Saladrigas, a leading Cuban exile, gave a lecture today in Havana organized by the Catholic publication “Space Lay” which brought together a diverse audience where there was no lack even some dissidents and critics of the government of the island.
As it has done publicly for some time, the businessman who chairs the U.S. the “Study Group on Cuba,” advocated that the exile to participate and contribute in the economic reforms on the island, who have opened a small gap to the private sector.
“Moving away is not an option and wait either,” he said.
In his opinion, Cubans in the diaspora can help lift the island into an “entrepreneurial class” as the most effective and direct to “democratize” the economy (markets overview).
“We have everything to build a future. Derrumbemos the walls we have built between both sides (…) to build a new Cuba, free, sovereign, inclusive, prosperous, diverse, rich, fair and equitable,” said Saladrigas.
In his speech defended the approach of Cubans on both sides but recalled that in the case of the diaspora to the island has been hampered by both the U.S. and Cuba.
Saladrigas, 63, cofounder of The Vincam Group (considered in 1998 the largest U.S. Hispanic), left the island with twelve years in the “Operation Peter Pan”, a massive exodus of Cuban children sent by their U.S. families after the triumph of the revolution that led Fidel Castro.
He was one of the leaders of the campaign that defeated the pilgrims planned cruise from Miami in 1998 for the visit of Pope John Paul II, which has recently been recognized as “one of the biggest mistakes” of his life.
Now that error has been compensated by traveling to Cuba this week as a pilgrim during the three-day visit he made to the island by Pope Benedict XVI.
He defended the role being played by the Cuban church now and stressed that the strengthening of the church contributes to “weaken” totalitarian systems.
With Saladrigas conference held on Friday the Church confirms his role as “facilitator” of spaces for dialogue unprecedented in the island at other times to invite some representatives of dissent and critical areas
In this case, along with pro-government journalists and intellectuals, diplomats and European correspondents could also hear Saladrigas the former political dissident Oscar Espinosa and critics as the famous blogger Yoani Sanchez.
Caixa Galicia Group (NCG), resulting from the merger of Caixa Galicia Caixa Nova y, tuvo join losses in 2011 of 168.7 million euros, from 69.5 million to them fueron Bank of NCG.
According to the entity has communicated to the Commission Nacional del Mercado de Valores (CNMV), although these losses, a benefit tuvo su result in exploitation of 74.9 million in Accounts sus of 2011, which support 2050 million in SANEAMIENTOS .
In 2011 he passively New Caixa Galicia fue of 69.5 million, of them that Solo 2.7 million to match funds of the entity y su equity amounted to 2.69 million.
Also new Caixa Galicia has informed the strategy that will recapitalizarse approved for, which includes the entry of private investors that minority exceed it by 20 it sufficient capital for the entity.
To him ello Fund Restructuring Banking Position (Frob) issue obligations convertible into shares of Bank NCG, it will be the first stage of a process of complete divestment (market data).
Because of them Accounts him last year, the entity will pay them in wages and interest of emissions of preferred y perpetual subordinated obligations, controversy Fuente y sus discontent among depositors.
He state, through it Frob, quirement was obliged to stay at Septiembre past, after he completed the process that opened it to the Bank of Spain that it had reached 13 entities minimum capital exigido with him 93 for his scientic NCG Bank, which takes them financial powers of Novacaixagalicia.
Vice President of the European Commission, Joaquín Almunia, has defended “a robust competition policy especially in times of crisis”, in concluding his two-day visit to the United States.
“I do not agree with the argument that we should be more lenient in applying the competition law of the European Union to help companies weather the storm,” Almunia said in a speech to the U.S. Justice Department in Washington.
Therefore, announced the possibility of investigating the companies owning patents essential standards “as they have considerable market power and may damage the market competition” among the listed Apple, Microsoft and Motorola in wallstreet.
Also, the European Commissioner for Competition again claimed the measures taken by European integration to solve the debt crisis and economic slowdown, and insisted that the challenge now is the revitalization of the growth agenda.
Almunia, however, avoided commenting on the budget approved today in Madrid by the Spanish Government, which delve into the politics of austerity and sharp cuts.
“I will not comment on that topic. I will refer to those reported by my colleague Olli Rehn (Commissioner for Economic Affairs of the EU),” said the Spanish commissioner told reporters at a meeting at the headquarters of the EU delegation in the capital U.S..
From Denmark, Rehn had described the efforts of Spain as “vital” and held the “determination” of the government of Mariano Rajoy.
Almunia also dodged questions about the rise of European rescue fund agreed in Copenhagen today by European finance ministers to the 700,000 million euros, although at a forum last night stressed that this firewall is to act as “credible argument” against new difficulties.
On the other hand, the Spanish commissioner stressed the “special relationship” between Washington and Brussels competition, noting that one of the successes of the crisis is that we managed to overcome “the protectionist temptations.”
While in the U.S. capital, Almunia, attended the spring meeting of the Competition Law Association of the U.S. and held several meetings with both the Department of Justice and the Federal Trade Commission (FTC).
Minister of Industry, Energy and Tourism, José Manuel Soria (PP), has described today as “artificial” the controversy that has arisen in the Canary Islands around oil exploration permits awarded to Repsol and has suggested it may be directed against him.
In his first public appearance in the Canary Islands since the Council of Ministers unlocked permits for oil drilling within 61 kilometers of Lanzarote and Fuerteventura, Soria is back to defend to give up discovering oil in Spanish waters “is a luxury” that the country “can not afford”
At a dinner symposium organized by the Association for the Advancement of Management, the minister has taken advantage of the presence in the auditorium of many entrepreneurs in the archipelago to assure them that “does not understand the little buzz that has been mounted” and confessed that they did not gives “great importance”.
Soria recalled that one of his predecessors in the portfolio of Industry, the Minister Jose Montilla, left the royal decree ready to resume oil exploration permits in 2001 “once solved” the defects on the environmental control had led the Supreme Court to revoke, which failed to materialize by the decision of President Rodriguez Zapatero.
He insisted that those who now oppose the surveys from the Canary Islands Government, the leaders of CC and PSC PSOE favored to retake “a few months ago.”
“The only thing that has changed from then to now is that industry is responsible for another speaker,” has settled.
The minister stressed that for him, was “an honor” to raise again the Council of Ministers such permits to search for hydrocarbons in the median that divides the Spanish and Moroccan waters in front of the Canaries, (dow jones data) because, as stated in the recent weeks, this may be the best decision you will have the opportunity to take the benefit of their homeland.
The Minister of Industry has stated that Spain now imports 99.8% of its oil, 1,400,000 barrels per day, and reiterated that if the forecasts, canaries deposits could cover 10 percent of that demand, supplying 140,000 barrels a day over a period of 20 years.
In this regard, the Minister was convinced that tourism “will remain the engine of the Islands’ economy,” but insisted that “no longer enough,” as evidenced in his opinion, the fact that the archipelago has at this time an unemployment rate of 31 percent, despite having lived in 2011 a record tourism year, with 12 million visitors.
Spain won a European consent prudent budget 2012-the toughest of its history this year to cut its deficit to three points, but several questions remained on Saturday to the experts on the speed and feasibility of setting.
Just announced on Friday in Madrid on budget, Jorg Asmussen, board member of the European Central Bank (ECB), said from Copenhagen that should be implemented as quickly as possible, to have a quick “impact.”
The Spanish Minister of Economy, Luis de Guindos, who “explained” to their European colleagues the draft budget during a meeting in the Danish capital, pledged its implementation “as soon as possible.”
Even so, reduce the deficit by three points Spanish before year end is a task “difficult,” admitted Saturday a European source, despite the announced adjustment of more than 27,000 million euros.
Moreover, the enormous difficulty for Spain is “finding the right balance between austerity and growth,” said Cyril Regnat, an analyst at Natixis.
Indeed, many experts fear that the cure of austerity adopted to accentuate the recession, this year the Gross Domestic Product (GDP) should fall 1.7% Spanish – in a country that already has a record unemployment rate (22.85% .)
Furthermore, “is to know what regions (autonomous communities) will” in this effort, according to Professor Luis Garicano of the London School of Economics, quoted by Financial Times on Saturday.
Indeed, the country’s 17 regions are largely responsible for the deficits of the country.
It expressed concern Saturday an economic note from Credit Suisse.
“Remains in place the question on how the regions will adapt” to the setting, the note said commenting on the Spanish budget, but stands as a positive factor the fact that “11 of the 17 regions are in the hands” of the conservative Popular Party ( PP, in the central power).
Thus, orders to reduce their deficits “will come up,” he says.
The problem is that Spain is not only committed to reduce its deficit to 5.3% in 2012, but also to continue lowering him in 2013 to 3%, as stipulated in the Stability and Growth Pact in Europe.
In any case, despite many questions, the initial reaction was positive market building once known (to 800,000 million euros) firewall anti-crisis in Europe, which could go if necessary in aid of Spain.
The stock of the continent, including Madrid, rose on Friday, and rates of Spanish obligations to 10 years closed the week at 5.33%, 5.44% against the previous day, a symptom of relative calm in the markets debt.
Thinking about investing in diamonds ? Gold rates are through the roof, stocks are unreliable, this makes it difficult to choose a good investment . chill out, many people are in the same situation .
How about expensive diamonds?
Here is a checklist of some benefits of owning and investing in diamonds
- These Little shiny pieces of pure carbon are worth more than gold in weight.
- You can win over you wife or girlfriend(s).
- Leaving town, no problem, your fortune fits inside your pocket.
- Selling them is easy provided you have studied the trading markets.
purchasing diamonds can be tough. You need a trustworthy diamond supplier, preferably on the wholesale level.
Diamonds are easy to steal , make sure you have they are insured correctly. Keep pictures and copies of the certificates and bill.
Diamond prices : up by 17% in 2011
In spite of the global economical problem diamond prices are going up. There are 2 driving forces that explain these price increases that have been raising steadily since 2005 with the exception of 2009.
- Shortage of supply: simply put there are not enough top gems out there to fill the needs of the markets, driving the prices up
- In Europe the Euro crisis may trigger a severe increase in demand for investment diamonds, causing possible surge in diamond pricing for 2012.
A good source to receive some diamond price information based on real time bourse information is key. You may even use a specialized diamond search engine to find individual diamonds. expertise is power and this is all true for diamond purchasing.
Which diamonds to invest in? Large diamonds or small diamonds? What quality? What dimension?
You are probably well advised to buy top class diamonds, meaning white diamonds with no inclusions or a pure diamond. Make sure the diamond has an international accepted certificate like GIA or HRD.
Don’t go for diamonds over 3 carat. big diamonds are unique and pricey, but selling them may proof harder as they get larger. It is suggested to purchase 1.00 to 2.00 carat diamonds in top good quality. They can be fitted into rings easily without looking over the top AND they are quite easy to sell on the international market.
Where to buy?
- Antwerp Belgium is the largest diamond trading district globally with several diamond bourses
- Buy at wholesale level. Tip: wholesale companies generally do not sell to private, but it never hurts to try.
- Make sure the diamond seller is a settled company with association to one or more diamond bourses
- Call them? Know who you are dealing with and talk directly over the phone to get some physical feedback.
Investing in diamonds is a good alternative, provided you do your research!
Becoming a debtor, you are entitled to understand on everything which the financial institution or bank is loading you for when you generate a loans or an application for the mortgage. Doing so includes Payment Protection Insurance Charges. You are not meant to pay for doing so except you have been informed of all the items that you are supposed to perceive and the circumstance is assessed thoroughly. If once analyzing the papers which got here with the loans, you discover you do have been charged fee for costs or the enjoy, you are entitled to make PPI claims accordingly. This entitlement has been given to certain borrowers immediately after it has been seen out by authorities that the insurance protection has so many irregularities. Therefore, individuals who possess bought the insurance but later on had been not capable to recuperate because of defective gratefulness of circumstances can get everything that he has purchased for back.
International students have several circumstances that can entitle you to PPI claims. One can claim for such first, if there was force as a part of the lending company in the direction of you, so you may agree finding the insurance coverage even if you do not want to. This is one robust ground simply because PPI should not be a pressured coverage. It should be open to the discretion of the lender. It is not a legitimate defense for the financial institution to say which the goal of the protection coverage is for the excellent of the lender himself. It is for the one crafting the loans to say whether or not or not he desires to make the payment of the loans guaranteed.
An additional situation that can entitle a consumer to PPI claims would be if he was produced to purchase the insurance coverage protection with the promise which there will be compensation of the loans in case the customer jeopardizes to pay due to some situation prefer disorder and unemployment even if his situation has not been bulletined. Doing so is because the insurance firm may later on refuse to allow the debtor restoration owing to most conditions. Among these is becoming self- used, possessing pre- existing anesthesia condition or not becoming used with any manufacturer or government or hospitals for minimum a year.
Ultimately, one can generate the statements if the payment of the costs has been deducted instantly to the future value of the loans you are producing where there is no you realizing it. Doing so is an efficient foundation for PPI Claims. The solely issue would be looking back it for your criticism in a way that the banks or lenders will not be able to refuse it. You do not need to be anxious if you do not have sufficient scenery in building the claim. International students have so many people who can assist you to do so. What you do do is to relay all the data to the individual helping you as you comprehend them. The framing could be dealt with by them and there will be no reason for your say to be rejected anymore.