Tymoshenko: Ukraine's polarizing 'Gas Princess' - Yahoo News:
"KIEV, Ukraine (AP) — As protests roiled Ukraine's capital and exploded into violence, Yulia Tymoshenko's face, topped by her trademark diadem of blonde peasant braids, overlooked the street mayhem from posters — an oddly ghostly presence for a woman who made her name by being in the thick of opposition action.
The posters, on display near the stage of the protesters' main camp and on the nearby city Christmas tree, were the only way Tymoshenko could be there. She's been imprisoned for more than two years serving a sentence widely regarded as an act of vengeance by her arch-foe, President Viktor Yanukovych."
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Sunday, 23 February 2014
UAE set to widen government revenue base | GulfNews.com
UAE set to widen government revenue base | GulfNews.com:
"The federal government is wise to look at widening its revenue base, rather than rely on oil revenue as the overwhelmingly dominant source of government money for ever. This is why the Ministry of Finance is looking at a variety of indirect taxation options, such as a sales tax, and other areas like imposing duties on tobacco products. But given the healthy state of the UAE’s federal finances, these moves are not urgent at this time.
Nonetheless, Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, outlined some new thinking this week when he pointed out that the government is also looking at developing a place in the bond market. The establishment of government securities would be a key tool to find alternative sources of funding for major infrastructure projects, said Shaikh Hamdan."
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"The federal government is wise to look at widening its revenue base, rather than rely on oil revenue as the overwhelmingly dominant source of government money for ever. This is why the Ministry of Finance is looking at a variety of indirect taxation options, such as a sales tax, and other areas like imposing duties on tobacco products. But given the healthy state of the UAE’s federal finances, these moves are not urgent at this time.
Nonetheless, Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, outlined some new thinking this week when he pointed out that the government is also looking at developing a place in the bond market. The establishment of government securities would be a key tool to find alternative sources of funding for major infrastructure projects, said Shaikh Hamdan."
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The Angry Arab News Service/وكالة أنباء العربي الغاضب: UAE money and Sisi republic luxury
The Angry Arab News Service/وكالة أنباء العربي الغاضب: UAE money and Sisi republic luxury:
""In mid-February the Egypt subsidiary of the UAE-based Emmar signed a protocol with the Egyptian Defense Ministry which clears the way for the construction of Emmar Square, a mixed-use development with open-air shopping for international luxury brands. The development is part of the company’s exclusive Uptown Cairo. Emaar is the developer behind the world’s tallest building, Burj Khalifa. The Egyptian Defense Ministry is in many ways Egypt’s largest land owner/manager and the massive property that is now being developed by Emmar with Uptown Cairo’s exclusive residential clusters and golf course is/was owned by the military and was previously unavailable to the market." (thanks Yusuf)"
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""In mid-February the Egypt subsidiary of the UAE-based Emmar signed a protocol with the Egyptian Defense Ministry which clears the way for the construction of Emmar Square, a mixed-use development with open-air shopping for international luxury brands. The development is part of the company’s exclusive Uptown Cairo. Emaar is the developer behind the world’s tallest building, Burj Khalifa. The Egyptian Defense Ministry is in many ways Egypt’s largest land owner/manager and the massive property that is now being developed by Emmar with Uptown Cairo’s exclusive residential clusters and golf course is/was owned by the military and was previously unavailable to the market." (thanks Yusuf)"
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Bahrain's Gulf Finance House doubles Q4 profit on investment revenue | Reuters
Bahrain's Gulf Finance House doubles Q4 profit on investment revenue | Reuters:
"Bahrain-based Gulf Finance House , whose unit is in the process of selling a majority stake in English soccer club Leeds United, said on Sunday its fourth-quarter net profit more than doubled due to revenue derived from investments.
The investment firm made a net profit of $5.2 million in the three months to Dec. 31, up from $2.5 million in the prior-year period, it said in a statement.
It cited "income generated from investment advisory and the sale of investments" for the increase. It did not elaborate."
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"Bahrain-based Gulf Finance House , whose unit is in the process of selling a majority stake in English soccer club Leeds United, said on Sunday its fourth-quarter net profit more than doubled due to revenue derived from investments.
The investment firm made a net profit of $5.2 million in the three months to Dec. 31, up from $2.5 million in the prior-year period, it said in a statement.
It cited "income generated from investment advisory and the sale of investments" for the increase. It did not elaborate."
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Economists and Officials Disagree On Recovery Forecasts | Business | The Moscow Times
Economists and Officials Disagree On Recovery Forecasts | Business | The Moscow Times:
"According to government predictions, state companies’ spending plans are likely to pull the economy out of stagnation toward the end of the year. Other economists, however, remain skeptical of these forecasts.
Figures for January released last week did not give grounds for optimism, and recent news reports have said that Russia may be headed into a recession.
Government officials remained hopeful despite State Statistics Service data showing that direct investment slumped 7 percent compared to the year before while analysts expected a 1.5 percent growth and retail sales growth slowed to 2.4 percent against 3.8 percent growth in December.
“Unfortunately, the economy continues to stagnate, but we anticipate an end to this stagnation will come in the second or third quarter,” said Deputy Economic Development Minister Andrei Klepach, PRIME Business News Agency reported Friday."
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"According to government predictions, state companies’ spending plans are likely to pull the economy out of stagnation toward the end of the year. Other economists, however, remain skeptical of these forecasts.
Figures for January released last week did not give grounds for optimism, and recent news reports have said that Russia may be headed into a recession.
Government officials remained hopeful despite State Statistics Service data showing that direct investment slumped 7 percent compared to the year before while analysts expected a 1.5 percent growth and retail sales growth slowed to 2.4 percent against 3.8 percent growth in December.
“Unfortunately, the economy continues to stagnate, but we anticipate an end to this stagnation will come in the second or third quarter,” said Deputy Economic Development Minister Andrei Klepach, PRIME Business News Agency reported Friday."
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Kuwait's Burgan Bank Q4 net profit slumps | Reuters
Kuwait's Burgan Bank Q4 net profit slumps | Reuters:
"Feb 23 (Reuters) - Kuwait's Burgan Bank reported a big drop in fourth-quarter net profit on Sunday, according to Reuters calculations, with its full-year earnings also significantly lower than the previous period.
The lender, 58-percent owned by conglomerate Kuwait Projects Company, made a net profit of 2.52 million dinars ($8.9 million) in the three months to Dec. 31, Reuters calculated. This compares to 9.22 million dinars in the corresponding period of 2012.
This came in well below the estimates of three analysts polled by Reuters, who forecast on average a net profit of 25.7 million dinars for the period."
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"Feb 23 (Reuters) - Kuwait's Burgan Bank reported a big drop in fourth-quarter net profit on Sunday, according to Reuters calculations, with its full-year earnings also significantly lower than the previous period.
The lender, 58-percent owned by conglomerate Kuwait Projects Company, made a net profit of 2.52 million dinars ($8.9 million) in the three months to Dec. 31, Reuters calculated. This compares to 9.22 million dinars in the corresponding period of 2012.
This came in well below the estimates of three analysts polled by Reuters, who forecast on average a net profit of 25.7 million dinars for the period."
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MIDEAST STOCKS-Egypt crosses key level as financials rise; Gulf mkts mixed | Reuters
MIDEAST STOCKS-Egypt crosses key level as financials rise; Gulf mkts mixed | Reuters:
"Feb 23 (Reuters) - Egypt's bourse surged on Sunday to a new 65-month high and crossed a key psychological level as improving financial outlook lifted sentiment, while Gulf shares were mixed.
Cairo's EFG-Hermes surged 6.9 percent to its highest since March 2012 in a delayed reaction to the improved outlook in its asset management business.
The firm said last week it would expand assets under management in Egypt by 25 percent in 2014.
"Egypt has been seeing increased volumes and moves and it's about time EFG caught up with the market, reflecting the growth in the asset management industry," said Mohamed Radwan, director of international sales at Pharos Securities."
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"Feb 23 (Reuters) - Egypt's bourse surged on Sunday to a new 65-month high and crossed a key psychological level as improving financial outlook lifted sentiment, while Gulf shares were mixed.
Cairo's EFG-Hermes surged 6.9 percent to its highest since March 2012 in a delayed reaction to the improved outlook in its asset management business.
The firm said last week it would expand assets under management in Egypt by 25 percent in 2014.
"Egypt has been seeing increased volumes and moves and it's about time EFG caught up with the market, reflecting the growth in the asset management industry," said Mohamed Radwan, director of international sales at Pharos Securities."
'via Blog this'
Gorbachev: Ukraine failed to act democratically - The Washington Post #EuroMaidan
Gorbachev: Ukraine failed to act democratically - The Washington Post:
"SHARJAH, United Arab Emirates — Former Soviet leader Mikhail Gorbachev said Sunday that the political crisis in Ukraine, which has seen its president driven from the capital after months of protests, stems from its government’s failure to act democratically.
He spoke a day after demonstrators took over Kiev and seized President Viktor Yanukovych’s office as parliament voted to remove him and hold new elections."
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"SHARJAH, United Arab Emirates — Former Soviet leader Mikhail Gorbachev said Sunday that the political crisis in Ukraine, which has seen its president driven from the capital after months of protests, stems from its government’s failure to act democratically.
He spoke a day after demonstrators took over Kiev and seized President Viktor Yanukovych’s office as parliament voted to remove him and hold new elections."
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Russia: Ukraine should seek bailout loan from IMF - The Washington Post #EuroMaidan
Russia: Ukraine should seek bailout loan from IMF - The Washington Post:
"Russian Finance Minister Anton Siluanov said Sunday that Ukraine should seek a loan from the International Monetary Fund to avoid an imminent default, but would have to meet demands for difficult structural reforms.
Russia in December offered Ukraine a $15 billion bailout, but so far has provided only $3 billion, freezing further disbursements pending the outcome of the ongoing political crisis."
'via Blog this'
"Russian Finance Minister Anton Siluanov said Sunday that Ukraine should seek a loan from the International Monetary Fund to avoid an imminent default, but would have to meet demands for difficult structural reforms.
Russia in December offered Ukraine a $15 billion bailout, but so far has provided only $3 billion, freezing further disbursements pending the outcome of the ongoing political crisis."
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