Oplecenter Business & Finance News

WASHINGTON – United States welcomed the decision of the Paris Club creditors to cancel Afghanistan debt to its members as an “important step” toward economic sustainability on Wednesday (17/3/2010) local time.

As quoted by AFP on Thursday (18/3/2010), Ministry of Foreign Affairs said in a statement, step 19-member club is a “major achievement” for Afghanistan and show how the world recognizes that

Afghanistan has taken “significant steps” to strengthen its economy.

“Appointment of the debt burden inherited by the government of Afghanistan marks an important step on the path of economic sustainability of Afghanistan,” he added.

“The agreement reached today would apply the treatment completion point under Afghanistan` the Enhanced Heavily-Indebted Poor Countries Initiative `,” the statement said.

“The agreement also recognizes Afghanistan’s performance under the program International Monetary Fund (IMF) and progress in adopting and implementing economic reforms in a very challenging environment,” the statement said.

Informal group of industrialized countries said in a statement it was clear USD585 million and voluntary bilateral debt after the Afghan government promised to allocate the freed resources to fight poverty.

Paris Club said, also decided to cancel an additional USD441 million representing the share of the club in the initiative the IMF and World Bank that provides low-interest loans to the poorest countries of the world.

A number of USD1, 026 billion in debt forgiven by Paris Club, representing about half of the external public debt in Afghanistan in March 2009, or $ 2, 104 billion

BERLIN – More than 1,000 rich Germans who had accounts in Swiss banks, Credit Suisse, was surprised to learn that they are being investigated by the tax man. They realized that being investigated by the tax man when he found their names in the CD of tax.

“Public Prosecutor investigated over 1100 customers and employees of Credit Suisse,” said Attorney General spokesman Dirk Negenborn in Duesseldorf as quoted by the AFP, Saturday (20.3.2010).

He explained that the total debt of tax is still calculated. But, according to several sources in the German IRS tax debt is estimated at 400 million euros.

The authorities in Germany sure to catch the developers of this tax in the not long. The developers of these taxes among the wealthy German who ebrada in several states, including Bavaria and Baden-Wuerttemberg in the south of Germany.

“Credit Suisse will not confirm or comment on such information does not have any official contact with German authorities,” said Marc Dosch, Spokesperson for the General Prosecutor others.

The newspaper Frankfurter Rundschau reported that CDs containing confidential data was sold to the banking of North Rhine-Westphalia. February, the German government bought secret information 1500 which includes allegations of tax violations Swiss bank customers. From the CD German government managed to secure 2.5 billion euros of tax money.

Federal Government leadership of Chancellor Angela Merkel has given approval for the North Rhine-Westphalia, Germany historic industrial centers, to buy CDs that contain confidential information Swiss banks. Approval has been issued in February. The newspaper Sueddeutsche Zeitung reported about 10,000 taxpayers had admitted their violations to the tax office.

However, this purchasing policy triggers debate in Germany. Some say the German government should not have to buy data about people’s account at the bank Panzer Affairs Switzerland. This data should be reported voluntarily by banks that serve the citizens of Germany.

Besides Germany, the United States (U.S.) also do something similar. UBS, which is a Swiss bank, was in the hot seat after being accused of helping the U.S. IRS Uncle Sam rich people hide the tax. UBS finally agreed to open the 4450 data

JAKARTA – a positive movement in Asian stock markets these days is driven by the large number of foreign financial flows of short-term (hot money) flows into the region to look for growth.

Another key factor that caused the flood of liquidity is easing restrictions on the funds out of China that is intended to direct foreign investment.

As a result, the investors party like when membumbungnya market in late 2007. When the regional stock markets headed into record high, following the China proposal to give the green light for its citizens on the mainland to buy shares directly in Hong Kong – or a scheme called ‘through train’.

In an article in the Straits Times that was launched today, Wednesday (29/7/2009), the analysts see a direct parallel line between then and now, including the risk of inflating the assets quickly.

The trading Tuesday, a number of companies recorded gains hikes, such as DBS Group Holdings which rose 72 cents to USD13, 72 and United Overseas Bank rose 54 cents to USD17, 38. Also experienced a huge jump in property CapitalLand of 12 cents to $ 4, 06.

In a report last week, Morgan Stanley said the spike in the same regional market rebound caused by through train, after the market collapse in August two years ago.

In recent months, the flow of hot money into China has increased. The result, China’s foreign exchange reserves surged to its highest level for $ 2, 13 trillion in June.

Regardless of hot money, massive lending by the banks to create liquidity abundant China, and the Shanghai stock market led to soaring 88.8 percent this year.

In the country itself, the flow of hot money into the stock market lately is one of the supporters of JCI and the rupiah strengthened. JCI is currently above the 2200 level, while the rupiah was in the range below Rp10.000/USD. Yesterday afternoon, for example, in the range of pitch rupiah Rp9.940 per USD, rose 20 points compared to the previous day of trading Rp9.960 per USD.

The more hot money coming into the bourses, it will make a gift to strengthen the rupiah. But still need to watch out for profit taking action because strengthening occurred in quick time

JAKARTA – Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) would take stern action against any employee on the line and the environment if absolutely proven to accept bribes or corruption.

“In accordance with our logo Fighting Corruption (pointing to the warning in the lobby of Bapepam), if necessary in the photo. Gaius does not employ me, so enggak commented,” Fuad said, when met reporters after Friday prayers, in the area of the Ministry of Economic Affairs, Jakarta, Friday (26/3/2010).

When Legal watched the announcement in question, ie, Fighting Corruption, the public is prohibited to reward employees for Bapepam-LK and the services provided Bapepam-LK staff shall refuse granting rewards from stakeholders.

Confirmed by Fuad, until now the staff has been committed to writing in question. This seems related to the case received bribes in the environment Gaius Tambunan Directorate General of Taxes.

Gaius is mentioned as a former Pol Kabareskrim Jen Kom Susno Duaji publicly disclose the alleged mafia in police practices in the handling of the case Gaius.

As for the personal accounts of Gaius recorded money Rp25 billion, in which money was allegedly the result of bribes from a company that monitored