position:deputy finance minister

  • A Strip apart? Gaza grapples with politics of expanded Egyptian administration in Trump’s ‘century deal’ | MadaMasr

    https://www.madamasr.com/en/2018/06/29/feature/politics/a-strip-apart-gaza-grapples-with-politics-of-expanded-egyptian-administrat

    An economic delegation from the Gaza Strip arrived in Cairo on Tuesday night to discuss the United States’ proposal concerning the humanitarian and economic state of the besieged Palestinian territory, as Washington continues to push talks concerning the “deal of the century.”

    Deputy Finance Minister Youssef al-Kayali headed up the Gaza delegation, which, according to a Palestinian political source who spoke to Mada Masr on condition of anonymity, was in Cairo “to listen to what the Egyptian side proposes without a preconceived position and without violating known Palestinian principles.”

    To this point, indications of Gaza’s appetite for the deal have been absent from the unfolding diplomatic discussions. The US diplomatic envoy headed by Jared Kushner, US President Donald Trump’s son-in-law and senior advisor, and Jason Greenblatt, Trump’s special envoy to the Middle East, was primarily focused on informing regional leaders of the defining features of Trump’s initiative to resolve the Palestinian-Israeli conflict, but, notably, did not meet with Palestinian actors during last week’s regional tour, which included stops in Egypt, Qatar, Jordan, Saudi Arabia and Israel.

    The framework of the US’s “century deal” involves the construction of a joint port on the Mediterranean between the Egyptian and Palestinian cities of Rafah, according to US and European diplomatic sources that spoke to Mada Masr ahead of the US delegation’s visit last week. The joint port would act as a prelude to extensive economic activity, for which North Sinai would serve as a hub, and would include five principal projects that would be funded by Saudi Arabia and the United Arab Emirates, with a labor force that would be two-thirds Palestinian from the Gaza Strip and one-third Egyptian.

  • Hanjin scrambles to prevent ship seizures as more vessels blocked | Reuters
    http://www.reuters.com/article/hanjin-shipping-debt-idUSL3N1BH033

    South Korea’s Hanjin Shipping plans to take legal action in jurisdictions worldwide to prevent its vessels being seized, as more of its ships were blocked from docking at ports in the wake of its collapse.

    As of Monday, 79 Hanjin ships including 61 container ships and 18 bulk carriers have been denied port access, according to South Korea’s maritime ministry. That figure includes one vessel seized in Singapore by a creditor, a company spokeswoman said. Hanjin has 141 ships, of which 128 are operating.

    At least three U.S. firms have launched legal action against Hanjin to seize vessels and other assets over unpaid bills.
    […]
    Hanjin vessels are currently carrying cargo worth 16 trillion won ($14.5 billion) belonging to some 8,300 cargo owners, the Korea International Trade Association said, adding that the carrier has unpaid bills of 610 billion won.

    As part of its efforts to gain legal protection for its ships, Hanjin has filed a Chapter 15 petition in a U.S. bankruptcy court in New Jersey. It plans to pursue legal action in roughly 10 countries this week and later expand that to 43 jurisdictions, South Korea’s financial regulator said.

    Many port authorities and service providers are demanding cash to work on Hanjin ships, the Hanjin spokeswoman said.

    Its lead creditor, the state-run Korea Development Bank, met with officials of parent firm Hanjin Group to discuss its commitment to paying fees so stranded ships can enter ports, but did not reach a conclusion, a bank spokesman told Reuters.

    • Hanjin Seeks to Steer Stranded Ships to Singapore, Hamburg - Bloomberg
      http://www.bloomberg.com/news/articles/2016-09-05/hanjin-seeks-to-steer-stranded-ships-to-singapore-hamburg-ports

      South Korea said Hanjin Shipping Co. will try to steer vessels to ports to unload cargo as the government attempts to contain global supply-chain disruptions stemming from the container line’s court receivership filing. The shares jumped after Yonhap News Agency reported the government will offer loans to the company.

      Hanjin’s ships will make calls at ports including Singapore, Hamburg and Busan, South Korea, where its vessels are unlikely to get stranded, Deputy Finance Minister Choi Sang Mok said in Seoul Monday. Regulations at these sites make them less likely places where the ships can get stuck, Choi said.

    • Samsung Says $38 Million of Goods On Board Two Hanjin Vessels - Bloomberg
      http://www.bloomberg.com/news/articles/2016-09-07/samsung-says-38-million-of-goods-on-board-two-hanjin-vessels

      Samsung Electronics Co., the world’s biggest smartphone maker, said about $38 million of its goods and parts were on board two vessels operated by the distressed Hanjin Shipping Co., which applied for bankruptcy protection last week.
      […]
      Samsung said its visual display business division had $24.4 million of parts and finished goods in 304 containers meant for its factory in Mexico, while its home appliance business division had products such as refrigerators, washing machines, dishwashers and microwave ovens worth $13.5 million in 312 containers.

      If the cargo can’t be unloaded immediately, Samsung will be forced to transport alternative parts by air to help meet contractual obligations, entailing “great costs,” it said. For instance, it would have to charter at least 16 planes at a cost of $8.8 million to transport 1,469 tons of goods, it said.

    • South Korea’s Hanjin Shipping bankruptcy has global impact - World Socialist Web Site
      http://www.wsws.org/en/articles/2016/09/09/hanj-s09.html

      South Korea’s Hanjin Shipping bankruptcy has global impact
      By Ben McGrath
      9 September 2016

      South Korea’s Hanjin Shipping is facing major restructuring after filing for bankruptcy protection last week. A Seoul court placed the world’s seventh largest cargo transportation line under court receivership on September 1, leading to worldwide disruptions at ports and terminals. The country’s shipping lines and shipbuilders have been struggling in the wake of the 2008 financial crisis and the drop in global trade.

      On Tuesday, Hanjin announced it was able to secure 100 billion won (US$90.6 million) to begin unloading dozens of vessels around the world. Forty billion won will come from Hanjun chairman Cho Yang-ho’s personal wealth while 60 billion won will come from loans, using stakes in terminals such as that at Long Beach, California as collateral.

  • Mongolia officially pays off its 3.8 million USD debt to Russia | The UB Post
    http://ubpost.mongolnews.mn/?p=18637

    Prime Minister Ch.Saikhanbileg received Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mongolia Iskander Kubarovich Azizov on Monday to present confirmation of the payment of 3,832,515 USD in Mongolian debt owed to Russia.
    During the meeting Ch.Saikhanbileg noted, “We promised to pay off the remainder of the great debt to Russia in February. In this regard, I am handing over a receipt for a transaction of 3,832,515 USD from Mongol Bank to the Russian Finance Ministry.” Emphasizing that this day marked a historic event in relations between the two countries, he noted that new economic opportunities are being opened for the future by paying off the remainder of Mongolia’s financial obligations. At the end of their meeting, the Prime Minister conveyed his gratitude to the authorities who were involved in forgiving Mongolia’s debt, on behalf of Mongolia’s leaders.
    During the meeting Ambassador Azizov stressed, “All the financial obligations of Mongolia to the former Soviet Union, the current Russian Federation, have now ended. New opportunities are now open to develop bilateral financial and economic relations,” highlighting that he believes a new door has opened for Mongolia to enter the international financial market.

    • Si la Mongolie solde sa dette héritée de l’Union soviétique, il faut attendre le commentaire de l’article pour apprendre que la Russie a consenti un abandon de créance de 97% du montant de celle-ci…

      This is a debt settlement from a much higher amount (174.2 million). Why is Russia accepting such a small amount for this debt? So Mongolia can BORROW more to pay for the ridiculously high oil prices Russia demands of Mongolia.

      … qui renvoie à ce lien pour les détails.

      Why Did Russia Just Write Off 97% of Mongolian Debt ? | The Diplomat
      http://thediplomat.com/2016/02/why-did-russia-just-write-off-97-of-mongolian-debt

      According to Russia’s state-run Tass news agency, Mongolia’s unsettled debt with Russia came to a total of $174.2 million. The Russian law forgives 97 percent of Mongolia’s outstanding debt to Russia. “It should be noted that the sum involves the debt denominated in the non-existing currency. Actually, the debtor always has a possibility to formulate the issue like this: no currency, no obligations. In this case, we agreed on recalculating the amount into the really existing monetary unit,” remarked Russia’s deputy finance minister, Sergei Storchak, referring to the difficulties of negotiating a debt agreement after the collapse of the Soviet Union and the conversion of the rouble in 2006.
      […]
      The debt write-off does open interesting opportunities for Moscow as well. Mongolia is a major importer of refined petroleum, which comprises 22 percent of its overall imports as of 2013. 76 percent of Mongolia’s imported petroleum comes from Russia. Additionally, Mongolia runs a negative trade balance with Russia, exporting just $56.2 million in goods in 2013 while importing $1.54 billion. For Russian state and private firms, Mongolia will continue to be seen as an opportunity.

  • Finance ministry still torn between two salary tax models
    http://www.kyivpost.com/content/ukraine/finance-ministry-still-torn-between-two-salary-tax-models-396166.html

    The Finance Ministry of Ukraine will soon decide whether single social security tax and individuals’ income tax are united into one tax, or if the existing model should be retained, Deputy Finance Minister Olena Makeyeva has said.

    (intégralité de la brève)

    Trancher le débat sur l’éventuelle fusion de l’IR et de la CSG ?
    Bientôt, en… Ukraine.

  • Ukraine crisis puts Britain’s Cameron on spot over Russian donations - Yahoo News
    http://news.yahoo.com/ukraine-crisis-puts-britains-cameron-spot-over-russian-180603504.html

    British Prime Minister David Cameron came under pressure over the Ukraine crisis on Wednesday after he was forced to defend a party political donation from the wife of a former minister in Russian President Vladimir Putin’s government.

    Lyubov Chernukhina, the wife of Vladimir Chernukhin, a former deputy finance minister in Putin’s government, agreed to pay 160,000 pounds ($272,500) to Cameron’s Conservative Party at a fund-raising gala this month in exchange for a game of tennis with Cameron and Boris Johnson, the mayor of London.

    But that and other donations to Cameron’s party to fund its campaign for re-election in 2015 have come under scrutiny after the British leader called for sanctions on Putin’s “cronies and oligarchs” following the downing of a Malaysian plane in eastern Ukraine last week.

    The opposition Labour Party has questioned Cameron’s credibility to talk tough on the issue at the same time as his party is taking donations from people with links to the Russian government, which it said were worth 910,000 pounds.

    And abroad, French politicians have accused Cameron of hypocrisy for criticizing France’s sale of two Mistral warships to Russia, while doing nothing that would affect Russian interests in Britain, home to many wealthy Russians.

    Cameron, who lawmakers queried on Wednesday on why Britain had granted licenses to sell arms to Russia, said criticism of his party’s funding was misplaced and that it would not be handing back Chernukhina’s donation.

    Of course I wouldn’t accept money from someone who is a Putin crony but my understanding is that this person certainly isn’t that and has lived in Britain for many years and is now actually a British citizen so I don’t think that would be the right approach,” Cameron told British TV.

    A source close to Cameron’s party said Chernukhina’s husband had been sacked by Putin and could not be credibly described as having any links with the Russia’s government.

    Documents from Britain’s electoral watchdog show that Chernukhina had made three previous cash donations to the Conservative Party totaling 5,500 pounds since August 2012. Another donation of 10,000 pounds, in April 2012, was rejected because she was not eligible to vote at the time.

    Labour called on Cameron to be honest about Russia-linked party donations.

    People will be surprised at the extent of Russian wealth bankrolling David Cameron’s re-election fund,” Sheila Gilmore, a Labour member of parliament, said in a statement.

    There can be no impression of conflicts of interest or hypocrisy at such an important time.

    Johnson told Sky News that he would not play tennis with any crony of Putin’s.