Finance Minister P Chidambaram draws a line to check CAD at 3.7%

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August 13, 2013 by apicomely

Shortly after returning to the finance ministry in August last year, Chidambaram vowed to restrict fiscal deficit to 5.3% of GDP in fiscal 2012-13. The deficit was eventually contained at 4.9% of GDP and India averted a possible downgrade. But on Monday the rupee fell soon after the barely audible statement in Parliament, closing at 61.27 to the dollar, not far from the record low of 61.80 last week. The tepid reaction indicates that markets were skeptical of the finance minister’s ability to pull off a similar feat.

WhiteHorse Finance, Inc. Reports Second Quarter 2013 Earnings Results

In addition, the company reduced its outstanding borrowings under its revolving credit facility by $30 million. As of June 30, 2013, the Company had $21.3 million in outstanding borrowings under its $150.0 million revolving credit facility and $90.0 million outstanding under its unsecured term loan. Distributions On May 22, 2013, the Company declared a distribution of $0.355 per share for the quarter ended June 30, 2013. The distribution was payable on July 3, 2013 to stockholders of record as of June 21, 2013.

Detroit Finance Director Cheryl Johnson under fire for racial comments during pension board meeting

All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Last Updated: 13 hours and 56 minutes ago By: Jim Kiertzner DETROIT (WXYZ) – The city of Detoits finance director is under fire for the comments she made about having more black police officers and firefighters involved in the fight over pensions. It happened last Thursday at city hall at the Police and Fire Pension Board meeting when some black police officers and fire fighters showed up and said simply How can we help to fight cuts. Thats when Detroit Finance Director and ex-officio member of the pension board Cheryl Johnson said, I hope that the black firefighters and the black police take a more active role in the running of this board. Johnson was appointed by Mayor Dave Bing. Why does the race of somebody have anything to do with the running of the board?, asked Matt Gnatek.

First Trust Specialty Finance and Financial Opportunities Fund Increases its Quarterly Distribution to $0.17 Per Share

The quarterly distribution information for the Fund appears below: First Trust Specialty Finance and Financial Opportunities Fund (FGB): Distribution Rate (annualized) based on the August 8, 2013 NAV of $8.21: 8.28% Distribution Rate (annualized) based on the August 8, 2013 closing market price of $8.05: 8.45% Increase from previous distribution of $0.165: 3.03% A portion of the distribution may be treated as paid from sources other than net investment income, including short-term capital gain, long-term capital gain and return of capital. The final determination of the source and tax status of all distributions paid in 2013 will be made after the end of 2013. The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide attractive total return. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a portfolio of securities of specialty finance and other financial companies that the Funds investment sub-advisor believes offer attractive opportunities for income and capital appreciation.

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