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

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August 14, 2013 by apicomely

Foundation Finance Company Expands Consumer Financing Programs to Include Superprime Pricing Tier

The finance ministry has identified 345 such items, on which duties could be raised as early as Tuesday. Measures to contain gold imports, including raising customs duty to as much as 10% (the current tariff is 8%), are expected to bring down imports by 100 tonnes to 850 tonnes this year. Further, the government expects a natural compression in oil demand resulting in dollar savings of about $1.5 billion. This could go up if it is able to import more oil from Iran. As far as inflows are concerned, Power Finance Corporation, Indian Railways Finance Corporation and IIFCL would together raise $4 billion through quasi-sovereign bonds while public sector oil companies will raise overseas debt worth $4 billion.

Liberia: Finance Minister Seeks Loan in China

26 By Aleksandar Vasovic BELGRADE, Aug 13 (Reuters) – Serbia is in talks with a U.S.-educated McKinsey consultant about becoming the country’s new finance minister, following a cabinet reshuffle in July, a political source and local media said on Tuesday. Mladjan Dinkic was fired, along with at least three other ministers, to avert a snap election. Serbian Prime Minister Ivica Dacic had threatened to bring down the coalition government unless Dinkic was replaced and his small United Regions party ejected from the alliance. Serbian Yale graduate Lazar Krstic, who is about 30, met Serbian deputy Prime Minister Aleksandar Vucic in Belgrade on Monday, the source said, and Serbian daily Blic said talks would continue over the next few days and that an agreement was near. “Everything points to an agreement and we expect the public will be officially informed in the coming days,” Blic said.

FMC Corporation Announces New Finance Leadership

“Chuck is an exceptional leader with deep business experience, financial acumen and broad knowledge of our company,” said Graves. “For more than a decade, he has been part of the management team that transformed FMC Agricultural Solutions into one of the industry’s most profitable and fastest growing providers of crop protection products. I look forward to working with Chuck as we continue to transform FMC Finance into an organization that can support the company’s rapid growth.” Pfeiffer is a seasoned finance leader with nearly 20 years of experience in a variety of corporate accounting, controls and SEC regulatory roles. He has led FMC’s external reporting group since 2004, and most recently served as assistant corporate controller. Pfeiffer, who previously held accounting positions at Comcast Corporation, Safeguard Scientifics and KPMG, will report to Thomas. “Nick is uniquely qualified to assume the role of corporate controller,” Graves said. “He brings a high degree of discipline, integrity, and experience to this critical position, and has worked for nearly a decade under an exceptional mentor in Graham Wood. The transition of chief accounting officer responsibilities to Nick will be transparent.” Graves praised Wood’s 30 years of leadership and contributions to FMC. “Graham has been a remarkable executive, and a unique finance leader whose expertise is as deep as it is broad,” said Graves. “He has held nearly every major role in FMC Finance at many locations around the world, but Graham’s most significant mark on the company is his leadership and steady guidance when FMC split off its machinery business in 2001. He’s credited with building a new Corporate Controllers group following the split, and introduced new governance protocols and processes that have benefited the company to this day. We wish him continued good health and happiness in his retirement.” About FMC Corporation FMC Corporation is a diversified chemical company serving agricultural, industrial, environmental, and consumer markets globally for more than a century with innovative solutions, applications and quality products. In 2012, FMC had annual sales of approximately $3.7 billion. The company employs approximately 5,700 people throughout the world, and operates its businesses in four segments: FMC Agricultural Solutions, FMC Health and Nutrition, FMC Minerals and FMC Peroxygens. For more information, visit http://www.FMC.com . Safe Harbor Statement under the Private Securities Act of 1995: Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning specific factors described in FMC Corporation’s 2012 Form 10-K and other SEC filings. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. FMC Corporation does not intend to update this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future performance.

The delegation is expected to meet with senior officials of China Export-Import (Exim) Bank and the India’s Ministry of Finance to discuss the possibilities of securing loan to finance infrastructure projects in Liberia. Those forming part of the Government delegation include the Ministry of Justice, National Investment Commission, House of Representative, the Liberian Senate, and the Ministry of Public Works. A Finance Ministry release said some of the projects high on the agenda for financing with proceeds from the loan include the Gbarnga-Mendicoma highway; the Ganta -Zwedru highway; the transmission and distribution lines in Monrovia; the Roberts International Airport, among others. The release said government was doing everything possible to ensure that it secures the resources needed to finance Liberia’s infrastructure development which is inarguably a constraint to economic growth and expansion.

Serbia may hire McKinsey consultant as finance minister -source

But they left a lot of creditworthy customers on the table that FFC can approve. In order to streamline the process for dealers, FFC has launched a new pricing tier for the strong A credit, superprime customers that typically get approved by these larger lenders. Dealers now have access to reduced interest rates and promotional fees that meet or beat those types of programs for their best customers, plus full access to the B, C and D credit programs that can help them close more sales. Dealers can now focus on what they do best selling rather than on shopping multiple finance companies, continues McCullion. They can still get the best pricing on their best customers, but they also now have a one-stop program to give them access to additional approvals for near-prime and subprime customers as well, which adds to their bottom line. About Foundation Finance Company Foundation Finance Company is a sales finance company specializing in unsecured home improvement financing programs for sales under $25,000. FFCs products include revolving lines of credit, installment loans, same-as-cash and deferred payment plans and full-service credit approvals for superprime, prime, near-prime and subprime credit profiles.

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