After lengthy discussions, the Parliament approved early this morning a bill providing for the state to act as an underwriter to CPB's capital increase of 1.8 billion euro through a rights issue.
''The effort made tonight (yesterday for the approval of the bill) gives the possibility to examine other options,'' Sharly said responding to a question whether Cyprus would avoid the EU support mechanism.
''And yes we will work in the time ahead to explore every option possible to avoid the (support) mechanism,'' he added.
Sharly said he is moved by the sense of responsibility shown by all MPs who approved the bill.
Furthermore, replying to questions, Sharly voiced his concern over developments in Greece, expressing hope that Greek politicians will put the interest of their country before their own political benefit so that Greece will remain in the euro area.
''If this prevails I believe that at the end of the day Greece will make it and will remain in the Euro area and the Greeks will see better days,'' he added.
Cyprus is heavily interconnected with Greece through the Cypriot baking system whose loan portfolio in Greece accounts for approximately 25 billion euro. While Athens is gearing up for new general elections on June 17 speculation for Greece's exit from the Euro area is rising.
''For this reason I say if the Greek politicians show the same sense of responsibility like their Cypriot colleagues I believe they will make it (to remain in the Euro zone) and will not drag Cyprus in more difficult days,'' Sharly said replying to a question.
Copyright Famagusta Gazette 2012 All comments are now moderated
The Business Finance Store Discusses Small Business Outsourcing - San Francisco Gate
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The City of Costa Mesa, CA took the first steps this week to outsourcing jail services and street sweeping in order to save tax payers money, The Orange County Register reported. In this sense, the term outsourcing is more akin to contracting ...NorthStar Realty Finance Earnings Hindsight: Down 14.1% in Last 16 Days (NRF) - Financial News Network Online
Two weeks ago on May 3rd, 2012 NorthStar Realty Finance (NYSE:NRF) reported earnings and analysts, on average, expected earnings of $0.33 on sales of $124.0 million. The company actually reported a loss of $0.33 per share on sales of $117.3 million, missing EPS estimates by $0.66 and missing revenue estimates by $6.7 million. Since the company's report, shares of NorthStar Realty Finance have fallen from $5.94 to $5.10, representing a loss of 14.1% in the past 16 days.
In the past 52 weeks, shares of NorthStar Realty Finance have traded between a low of $2.92 and a high of $5.96 and closed Thursday at $5.10, which is 75% above that low price. The 200-day and 50-day moving averages have moved 0.76% higher and 0.27% lower over the past week, respectively.
Potential upside of 15.2% exists for NorthStar Realty Finance, based on a current level of $5.10 and analysts' average consensus price target of $5.88. The stock should hit resistance at its 50-day moving average (MA) of $5.41, as well as support at its 200-day MA of $4.57.
NorthStar Realty Finance Corp. is an internally-managed real estate company. The Company makes investments in real estate debt, real estate securities, and net lease properties.
Road money is still just a trickle - Vancouver Business Journal
The six-year plan released this week reflects last year’s priorities since nothing has changed.
Someday: Olde Towne Road will be straightened at the sharp turn in front of The Colonies at Williamsburg. When the timeshares were developed, VDOT gave up surplus right-of-way for buffers and The Colonies gave up land to fix the curve. The project will cost $2.66 million.
Croaker Road will be widened to four lanes from Richmond Road to the James City County Library. The project includes replacing a new two-lane bridge over the train tracks. The total project cost is $12.67 million, of which $984,211 is already funded.
Longhill Road will expand to four lanes between Route 199 and Olde Towne Road and get sidewalks. The road is already over capacity. The project will cost $11.8 million, with about $135,000 in hand.
County officials consider this project the most urgent, but Olde Towne and Croaker will likely reach the construction phase beforehand.
Racefield Drive would be paved under a project that sets aside money annually until enough has accrued to complete a project. So far, the county has $69,000 toward $177,600 needed.
Hicks Island Bridge over Diascund Creek will be replaced under a similar funding scheme. The bridge has a low sufficiency rating and has been pinpointed by VDOT as priority for replacement. The project will cost $726,000, of which $280,800 is funded.
The Board of Supervisors will review the priorities next week.
Want to go? The supervisors will meet at 7 p.m. Tuesday, May 22, in Building F of the County Government Complex, off Mounts Bay Road.
Quick Finance is Only a Click of the Mouse Away Thanks to Pay-Day-Loan.com - Emailwire
Los Angeles, Ca -- Its an experience that will be familiar to many; the car breaks down, the refrigerator fails or a whole host of bills arrive on the same day. The household budget didnt count on something like this happening and its a full two weeks before payday arrives again. In distressing circumstances such as these, it can be difficult to know where to turn.
Thankfully, theres always the option of short-term finance, often referred to as a pay day loan. Offered by many providers all over the country, the payday loan can be an effective way to bridge the gap between one pay check to the next should misfortune strike.
As with most things, however, all payday loan lenders are not created equal. Many are predatory in their practices and offer extremely uncompetitive terms. Unfortunately, many of those seeking pay day finance can be taken advantage of due to their perilous circumstances.
Its lucky, then, that high-quality, reputable providers such as Pay-Day-Loan.com still exist in the market. Experts in the area of last minute finance, the team at Payday Loan are well known for providing competitive, easy to access loans with the minimum of fuss. Now families and individuals from all corners of the nation can rest easy, knowing that they have a financial safety net available in the form of Pay-Day-Loan.com.
The process for obtaining finance from the Payday Loan team is simple and straightforward. A quick online application can mean access to cash on the very same day. With loans available up to the amount of $1500, its easy to see how the service offered by Pay-Day-Loan.com can be just the thing families need to bridge the gap between one payday and the next.
Unlike many lenders, the team behind Pay-Day-Loan.com also dont perform a credit check, nor do they request supporting documentation be sent via fax. In this way, loans can be provided faster and more efficiently than ever before, something which is essential for those who require access to their funds ASAP.
So for those caught out by the unexpected and who need to stretch things out just a little further this month, theres a light at the end of the tunnel. The dedicated team at Pay-Day-Loan.com are standing by with some of the most competitive, simple and efficient payday finance options available anywhere. Need a little extra? Then turn to the experts; Pay-Day-Loan.com.
About Pay-Day-Loan.com:
Payday Loan is a specialist finance service offering Americans from all corners of the nation quick access to cash in order to stave off unexpected financial situations. With competitive terms which allow speedy access to funds without a credit check or requirement to fax documentation, Pay-Day-Loan.com is one of the fastest and most effective ways in the country to get a short-term payday loan. For more information, visit http://www.pay-day-loan.com
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Imposing sanctions on Iran damaging West financial recovery’ - Presstv
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Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini The Iranian minister of economic affairs and finance says US and European Union sanctions will only harm the financial recovery of the West as any reduction in Iran’s oil exports will ...Public lodges its budget requests with senators - msnbc.com
Louisiana residents who rely on the state for health care, education and social services are taking their budget pleas to state senators Saturday. The Senate Finance Committee has scheduled a day to give the public an opportunity to lodge requests for next year's $25 billion operating budget. Lawmakers are haggling over how deeply to cut the budget in the upcoming fiscal year that begins July 1 and whether to use one-time, piecemeal financing to patch holes and offset cuts. A bloc of House Republicans was successful in its push to strip $268 million in one-time dollars from the budget proposal. Senators are considering whether to restore the dollars, as sought by the Jindal administration. College and health care leaders say without the money, they would struggle with steep reductions.
EPFO resumes investment in scam-hit LIC Housing Finance - Deccan Herald
Retirement fund manager EPFO's trustees today approved a proposal to resume investment in the scam-hit LIC Housing Finance, a subsidiary of the country's largest insurance company Life Insurance Corporation.
The decision to resume investment in the LIC Housing Finance was taken at the meeting of the Central Board of Trustees (CBT), the apex decision-making body of the Employees' Provident Fund Organisation (EPFO).
The CBT had suspended investment in housing finance company following disclosure of the bribe-for-loans scam in November 2010 in which top officials of the LIC Housing Finance were allegedly involved. "Amount invested in LIC Housing Finance is not much...approved investment is only about Rs 800 crore," CBT member and Secretary All India Trade Union Congress D L Sachdev told reporters after the CBT meeting.
The EPFO had invested Rs 454 crore in the bonds of LIC Housing Finance Company. The fund manager's prevailing investment norms allow for investment of up to Rs 846 crore in the company.
The EPFO's advisory body, the Finance and Investment Committee (FIC), took up the issue in its meeting on January 28 and recommended resumption of investment in LIC Housing Finance. LIC Housing Finance went through a bad phase after CBI in November arrested its CEO Ramachandran Nair and seven other senior bankers for allegedly colluding with real estate firms to sanction large-scale corporate loans, overriding the mandatory due diligence involved in such approvals, besides other irregularities.
Downham Market: Mayor’s plea for council unity - Kings Lynn News
DOWNHAM’S new mayor Robin Pegg called for unity in the town council as he took on the civic role for the next year.
In his acceptance speech the former police officer said the authority’s finances were now more healthy and paid tribute to the council’s finance team.
He added: “I know there will be some difficult times ahead during the coming year but I am not fazed by this at all and I look forward to the challenges that lie ahead.
“One of the most difficult tasks ahead is to bring the council back together, to start working together to achieve our goals, to work in a more harmonious way, to put behind us the problems of recent times and to look forward.”
Mr Pegg promised to work relentlessly for the benefit of the town, confessed a passion for the town hall, a building that would take a tremendous effort to make it a place of which to be proud.
He envisaged a busy summer with celebrations of the Queen’s Diamond Jubilee and the Olympic Games, the Downham Festival and the Water Festival.
Proposing Mr Pegg, John Doyle said: “He has served the public in one way or another for most of his adult life. For many years this was with the police, all of which has given him a presence and an easy manner which commands respect and helps him mix with all kinds of people.”
Sheila Nunn said she had come to appreciate Mr Pegg’s knowledge of many subjects, especially in the field of law.
“His training and experience as a police officer have prepared him well for the position of Mayor and his wife Jill will be behind him all the way,” she said.
Outgoing mayor Val Starling said: “There have been so many invitations to our town’s clubs, societies and organisations and we have met so many lovely people. It’s been a privilege and a pleasure and a year I will never forget.”
Mrs Nunn paid tribute to Mrs Starling and her consort husband Ray, telling members: “I thought I worked hard but what Val has done is over and above the call of duty. Despite cycling round the town in all weathers delivering the post, she has been in the office afterwards attending the council business before getting ready to be out in the evening.”
She said a lasting legacy of Mrs Starling’s mayoral year would be the Jubilee Skatepark, which is officially opened next Saturday, May 26, at 12noon.
The new deputy mayor is David Sharman, a retired builder and property developer who moved to Downham nine years ago and joined the town council five years later.
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