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Carstens seeks support of developing nations to remove European hold on top IMF post

Vittorio Hernandez – AHN News New York, NY, United States (AHN) – The battle to fill the top International Monetary Fund post vacated by the resignation of Managing Director Dominique Strauss-Kahn has apparently been reduced to a war between Europe and developing nations. Mexico’s Central Bank Governor, Agustin Carstens, took the struggle to a higher [...]

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Canada to remove public subsidies of federal political parties in new budget plan

Vittorio Hernandez – AHN News Ottawa, Ontario, Canada (AHN) – in a revised budget that the Conservative Party will unveil on June 6 the Canadian government will remove the public subsidies that federal political parties used to receive. The new policy would end the $2 per voter yearly subsidies federal political parties get from Ottawa. [...]

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Europeans support Lagarde to replace Strauss-Kahn at IMF

Vittorio Hernandez – AHN News Washington, DC, United States (AHN) – Europeans want to keep their hold on the post of managing director at the International Monetary Fund, which was recently vacated by Dominique Strauss-Kahn after he was charged with sexual assault by a hotel maid. Names of potential replacements began surfacing over the weekend. [...]

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Amid production halt, Saab seeks approval for changes in state guarantees

Kris Alingod – AHN News Contributor Trollhattan, Sweden (AHN) – Beleaguered automaker Saab has requested changes to guarantees from Swedish authorities, the latest effort by the beleaguered automaker to resolve financial issues. Saab has asked Sweden’s National Debt Office to approve an agreement reducing state credit guarantees for loans from the European Investment Bank, according [...]

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Washington accuses Lebanese Canadian Bank of money laundering for terror groups

Vittorio Hernandez – AHN News D.C., Washington, United States (AHN) – Washington has blacklisted the Lebanese Canadian Bank for money laundering for terror groups, particularly for the banned Islamist group Hezbollah. According to the U.S. Drug Enforcement Administration and the U.S. Treasury, the bank took part in a complex scheme to ship cocaine from Colombia [...]

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Flaherty assures Canadians of balanced books by 2015

Vittorio Hernandez – AHN News Vaughn, Ontario, Canada (AHN) – Finance Minister Jim Flaherty assured Canadians that the federal government will have a balanced budget by 2015. He based his bold forecast on Ottawa’s two-year $60-billion stimulus program. Flaherty said that the removal of the deficit within the next four years will happen as a [...]

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Unsecured Loans – Suitable Way to Get Instant Finance

Unsecured loans are unsecured in nature. As the name refers, these finances do not require any collateral or security deposit. Lenders sanction the loan application on the basis of repayment capacity and past credit record of borrowers. Generally, most of the people do not get the loan amount from lenders or banks due to absence [...]

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Flaherty gives Canadian provinces 2015 deadline to wipe out deficits

Vittorio Hernandez – AHN News Kananaskis, Alberta, Canada (AHN) – Federal Finance Minister Jim Flaherty on Monday gave Canadian provinces until 2015 to wipe out their budget deficits. He encouraged the provinces to address their financial problems to avoid facing a debt crisis similar to what some European Union nations are grappling with. Most Canadian [...]

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Emaar Plans to Keep Safe Distance From Troubled Amlak

The Media Line Staff United Arab Emirates (TML) – Emaar Properties PJSC, the sprawling Dubai real estate developer, had a near-death experience this past week when its chairman made remarks hinting that it might increase its stake in its troubled Amlak Finance unit, a move that would saddle Emaar’s balance sheet with huge debt. Emaar [...]

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Ontario reduces number of agencies by 5 percent

Vittorio Hernandez – AHN News Toronto, Ontario, Canada (AHN) – Ontario Finance Minister Dwight Duncan announced Tuesday the closure of 13 of 259 government agencies in the province. The move is part of the provincial government’s cost reduction effort to eliminate waste and save money. The number of agencies, boards and commissions to be shuttered [...]

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