Yesterday, the Center for the Study of Financial Innovation (CSFI) and auditing company PwC revealed the results of annual survey of risk in financial markets "Banking Banana Skins 2010", during which polled 450 players in the financial sector from 49 countries. "The most significant risks facing banks - not financial, and political nature", - noted in the report. Over the past 15 years of research, political risk has never hit the top 30 major risks, and the latest report was immediately at the first position. respondents believe that the greatest threat to the financial system is "politicizing" of banks as a result of their external refinancing or absorption by the State during the nationalization of credit institutions in Europe, the USA and the UK. "Bankers believe that politicians have a strong influence on their decisions in lending. State aid in removing the banks from the financial crisis has not helped them as encourage banks rely on external assistance in the future. Representatives of regulatory authorities are concerned that the State may stop supporting the banks, before they recover their financial strength, which will lead to a new collapse, "- stated in the report. Editor David Lasels survey concluded: "state aid in deriving the banks of the crisis, paradoxically, led to the transformation of political interference in the risk factor." Despite the fact that Ukraine has participated in the survey only one respondent, most of the major risks, especially political interference would be relevant to countries whose banks are exposed to a "global disease," says director of PwC for audit services in Ukraine Ludmila fragrant. Second place was taken by the credit risk, caused by fear of a second wave of the crisis, the third - the excessive regulation of the sector.
Sheikh Mohammed bin Rashid Al Maktoum announced the opening of a new oil field off the coast of the emirate and said that it would lead to growth of all sectors of the economy of Dubai. Currently, Dubai is experiencing a debt crisis, which has negatively affected its economy, already undermined by the global economic slowdown and the crisis in the local real estate market. Recall that on 25 November Dubai state-owned Dubai World said that he wanted to ask creditors for six months deferred payments on loans. As a result, the authorities in Dubai had to seek assistance from the Government of Abu Dhabi, which gave them a loan and bought bonds of the emirate worth $ 17 billion One of the most affected sectors of the economy of Dubai was the real estate market. Following the 2009 housing prices in the emirate have fallen by almost half, and in some places - by 70%.
This decree established the Cabinet pensions, the monthly pay and other sotsvyplat from 1 January 2010 at the level of last December. Earlier in January, prosecutors appealed the Government Pension Adjustment and state aid, but the Cabinet rejected the protest. Nevertheless, our GPU test found that governmen1000t violated the law, not increasing with 1 January 2010 pensions for disabled persons from 573 to 695 UAH. recall, by law, re sotsvyplat conducted since the establishment of a new subsistence wage. The last time the Council increased the size of the social standards October 20, 2009, by adopting the voices of the Regions Party, Lytvyn bloc and of the PSD law № 1646 "On establishing a living wage and minimum wage." On November 1, 2009 this law established: the subsistence minimum - 701 UAH., The minimum wage - 744 UAH. It is assumed that during the 2010 cost of living and wages will gradually rise to 1 December. PM made - respectively - 875 UAH. and 922 UAH. After the entry into force of the Act, the government of Yulia Tymoshenko has repeatedly stated that its implementation is impossible due to lack of funds in the state budget. Ministry of Finance estimated the total additional cost to increase social payments in 2010 amount to 71,3 billion UAH. Nevertheless, the parliamentary opposition insists on the need to fulfill the commitment, signed by the president and enacted law. The deputy head of parliament committee on economic policy Irina Akimova (Party of Regions faction) claims that the Cabinet does not pay the higher social standards, in particular, the benefits of childcare. Economists at the International Centre for Policy Studies, Alexander Acorn also notes that the law is not fully satisfied. According to the expert, the reason for failure of the law - in the absence of budgetary resources.
Lithuania started placing the new issue of Eurobonds denominated in U.S. dollars, reported the Lithuanian television citing unnamed sources. Ministry of Finance of Lithuania has not yet named an amount which intends to attract through this loan. Meanwhile, investors have already made offers to purchase bonds worth approximately $ 3 billion, experts believe that the amount of borrowed funds may reach $ 1 billion to $ 1.5 billion is currently expected that the rate will be in the range 7,5-7,75% per annum. Analysts believe that the country will be able to raise funds more cheaply, since the international rating agency Standard Poor `s on Wednesday revised its outlook of long-term credit rating of Lithuania with a" negative "to" stable "and affirmed the long-term credit rating in foreign and local currency" BBB " and short-term credit rating of "A3".
Living in Poland last year spent on the Internet 4.64 billion, more than 15% higher than in 2008. According to an UNIAN correspondent, according to the portal money.pl, last year the average Polish Internet user spent in shops and at auctions around 310 dollars. The share of Internet commerce in total retail sales amounted to 2%. According to the portal, since 2004, when Poland joined the EU, the volume of Internet sales in the country increased by almost 7 times. For comparison: in 2001 the Poles spent on the Internet about 35 million (at current rates). Over 70% of Poles, who use the Internet, state that make purchases online. Most of Polish citizens are buying through online stores, where last year they left the 3.42 billion dollars most popular goods purchased online, in Poland are books, household appliances and computers.
Ukrainian insurance market in 2009 was characterized by the lack of private mergers and acquisitions (MA), as investors were not willing to buy the Ukrainian companies on his proposed price, said a senior manager for transaction services company Ernst & Young (Kiev), Larissa Marchenko. "The market MA notable events had happened, and closed transactions, too, was not" - she said at a round table on "The consolidation of the insurance market - prospects for 2010" in Kiev on Wednesday. According to Marchenko, MA limiting factor in the transaction were also expectations of the owners of companies for possible improvement in market conditions. She noted that in 2009 the most notable event was the occurrence of the owner of the bank "Delta" Nicholas Laguna in the capital of JSC "National Joint Stock Insurance Company" Orans "(Kiev).
The IMF believes that Russia should take further measures to strengthen controls over the banking system. Last year"s audit of Russian financial institutions on the strength was insufficient to restore confidence and increase credit flows. "We recommend that the Central Bank of Russia to undertake a comprehensive assessment of the banking sector. It is important to lay that foundation of the banking system, which will start the credit expansion. It really has not happened," - said in an interview with Bloomberg IMF representative in Russia Odd Per Brekke. "We want to see how the growing demand in the private sector in Russia. This should be the engine of recovery. net exports in 2009 was encouraging in terms of external demand, but the private sector must also support the recovery," - he said. Last year, Russia held a so-called stress tests among all its banks. At the same time in hundreds of major financial institutions revealed a lack of capital base, according K2Kapital. According to deputy chairman of the Central Bank of Russia Gennady Melikyan, the banks may feel the lack of capital in April this year.
Sales of new cars rose in the U.S. in January to 6,3% compared to the same month last year, amounting to 698 378 units, according to data research firm Autodata Corp. annualized rate of sales reached 10.8 million cars and light trucks against 9.6 million in January 2009, but was below the December level (11.2 million), the producers have attracted buyers to showrooms big discounts . Thus, the American car market shows growing signs of sustained recovery. Sales of Japanese Toyota, forced to announce in January to suspend sales of several models, fell by almost 16% over the same period last year. In this situation, Ford Motor Co. and General Motors Co. managed to sell 24% and 15% more cars, but Chrysler LLC continued its retreat, reducing the implementation of 8%. Toyota suspended in January, the implementation of the eight models of cars, which account for about 10% of its sales in the U.S., because of the potential defect, which can lead to unintended acceleration of the car.
and added to the list of objects to be sold off the premises of the Vladimir and Zhitnyaya markets. Most likely, this year against a background of changing the head of state and possible early elections of Kyiv authorities sale of capital assets is activated. city council to sell at auction houses and Vladimir Zhitnyaya util1000ity markets. The decision was taken a deputy city on Oct. 29, 2009, but widely publicized decision of the session for the number 541 committed yesterday. The list for sale include non-residential buildings on the street. Gorky, 115 (Goloseevsky area), and st. Upper Val, 16 (Podolsk district). However, the document is no indication that the mentioned addresses known to operate the capital markets. Not specified area and facilities, but says that it complies with the bureau of technical inventory. initiated sales market has become a member of the Bloc of Leonid Chernovetsky Peter Ivanov. The proposal made by a vote supported by 64 deputies in the required 61. The purpose of the proposed privatization - increased revenues to the city budget. This is the second attempt to sell the city council and Vladimir Zhitny markets. In February 2008, KCSA has initiated the privatization of 35 public enterprises, among which were mentioned markets. Later the city council struck them from the list. Meanwhile, according to the State Property Fund, in 2009, Kiev became the leader of privatization among the regions: in the capital was privatized 601 objects - 16% from 3765, sold in the country. From the privatization of the State Property Fund in Kiev was 22912.1 thousand UAH., In particular, from the sale of communal property of the city - 16068.7 thousand UAH.
Ukrainian stock market fell yesterday for the second trading day in a row. This is stated in the review, prepared by analysts of investment company Phoenix Capital and provided by the agency UNIAN. According to analysts, on Monday, February 1, the most sold paper Ukrtelecom (-0.88%) and Stirol (-1.79%). In this action of the Raiffeisen Bank Aval (1, 48%) and "Forum" (1,12%) grew despite significant losses in 2009. Stakhanov Wagon Works (2.24%) yesterday once again was trading better than the market. The review notes that foreign venues Ukrainian securities traded on Monday, not too active. Cadogan (1,6%) from 20 January to win back continues to fall, while Kernel (1,0%) increase on news of a possible takeover of its competitor - companies Allseeds. Analysts also report that trading on the Ukrainian market of Eurobonds on February 1 began quietly, but during the trading session, the activity increased.