Digital Marketing Online – zurc2 http://www.zurc2.com/ Thu, 26 Aug 2021 08:04:37 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 Thursday Newspapers: Controversy in the Center, Decision to Build Bridges and Debt Ceiling | Yle Uutiset http://www.zurc2.com/thursday-newspapers-controversy-in-the-center-decision-to-build-bridges-and-debt-ceiling-yle-uutiset/ http://www.zurc2.com/thursday-newspapers-controversy-in-the-center-decision-to-build-bridges-and-debt-ceiling-yle-uutiset/#respond Thu, 26 Aug 2021 06:48:09 +0000 http://www.zurc2.com/thursday-newspapers-controversy-in-the-center-decision-to-build-bridges-and-debt-ceiling-yle-uutiset/ Oulu MP Juha Pylväs (Cen) sparked controversy with his comments on immigration on Wednesday. Image: Heikki Saukkomaa / Lehtikuva The Center Party became embroiled in controversy on Wednesday when party MPs held a summer meeting in Seinäjoki, Ostrobothnia. The new president of the group, Oulu MP Juha Pylväs, addressed his people with a speech mainly […]]]>


Oulu MP Juha Pylväs (Cen) sparked controversy with his comments on immigration on Wednesday.

Image: Heikki Saukkomaa / Lehtikuva

The Center Party became embroiled in controversy on Wednesday when party MPs held a summer meeting in Seinäjoki, Ostrobothnia.

The new president of the group, Oulu MP Juha Pylväs, addressed his people with a speech mainly focused on traditional Center Party themes – focusing on Finnish issues rather than international issues, and a supposed conflict between action on climate change and good -be economic people.

It was the line on immigration that sparked controversy on social networks and newspapers.

“Yes, we need people who can make ends meet with their own work in Finland,” said Pylväs. “The parasitic surfers of the standard of living who live on social benefits, on the other hand, we do not need them.”

This kind of language is generally not associated with the Center, an agrarian political force which is often the party of the settlement in small rural towns of Finland.

He was immediately criticized on Twitter by one of his own MPs, Hanna kosonen, and the leader of the Youth Center, Hanna Markkanen. The party leader Annika saarikko told reporters that Pylväs was responsible for his own words.

Ilta-Sanomat was present and demand Pylväs for clarification, but he didn’t back down, saying sometimes rhetoric needed to be added.

HS too demand for more details, and Pylväs developed the theme. In his opinion, the refugee quota system is good, because Finland “knows who is coming”, while the asylum system is not, because people apply for asylum once they arrive in the country.

It somewhat eclipsed that of Saarikko speech, which spoke about climate action and rural issues.

The party is still struggling to win back support, as shown a survey at Helsingin Sanomat. This suggests that support for the Finnish Party is down to 17.9%, but it is still almost five percentage points higher than the Center Party.

Approval of the tram bridge

The Tampere tram system was completed this year on budget and ahead of schedule, but a Helsinki project has not been as effective.

The Crown Bridges (Kruunusilta) between Laajasalo and Hakaniemi were originally supposed to cost 255 million euros, but that amount has now grown to 326 million euros.

Helsingin Sanomat reports that the new cost base was approved at a Helsinki city council meeting on Wednesday evening, with councilors voting 71 to 8 to spend the extra money.

The 10 km bridge is expected to be the longest in Finland and should be ready by 2026. It was originally controversial, as it has tram tracks and space for cyclists, but no roads for cyclists. private cars.

Action on solidarity loans from housing companies

Talouselämä financial paper reports Thursday that the finance ministry is preparing action to change a problematic aspect of the Finnish housing market, according to a policy document obtained by Talouselämä.

Finnish economists have long been concerned about increasing household debt, and a key driver of this increase has been debt jointly held by housing companies.

Much of Finnish real estate is owned through these housing companies, with some share entitling the owner to use an apartment in the building or a house owned by the company.

When repairs are necessary, all shareholders take out a joint loan, each assuming their share of the debt.

It works well for renovations, but in recent years new developments have been sold with large housing company debt attached. This helps those who might otherwise have a hard time getting a mortgage to pay off the properties.

It is also good for investors, who enjoy certain tax advantages when the debt is jointly held by the company, and some new buildings are now sold with 70 or even 80% of the purchase price as the debt of the company. housing.

This means that individual buyers only need a small fraction of the purchase price, in cash or in mortgage debt, to purchase the property.

Putting more of the purchase price in a joint debt, as opposed to a mortgage, is good for them, but increases the risk for everyone: if someone doesn’t pay their company’s loan back. housing, the housing company must pay the debt. It is not a risk with individual mortgages.

According to Talouselämä, the ministry wants to limit the debt of housing companies on newly built properties to 60% of the purchase price.

The ministry also wants an overall individual “debt ceiling” of 500 percent of a person’s gross income, and to limit maximum mortgage repayment periods to 25 years (although Finance Minister Saarikko (Cen) would prefer it to be 30).

The paper also examines the transfer of the regulation of payday loan companies to the Financial Supervisory Authority (Fiva). They are currently regulated by the Regional Administrative Agency of Southern Finland (Avi).



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Debt and state-owned enterprises need urgent change if South Africa is to recover, says Treasury in Parly http://www.zurc2.com/debt-and-state-owned-enterprises-need-urgent-change-if-south-africa-is-to-recover-says-treasury-in-parly/ http://www.zurc2.com/debt-and-state-owned-enterprises-need-urgent-change-if-south-africa-is-to-recover-says-treasury-in-parly/#respond Thu, 26 Aug 2021 05:02:07 +0000 http://www.zurc2.com/debt-and-state-owned-enterprises-need-urgent-change-if-south-africa-is-to-recover-says-treasury-in-parly/ National Treasury Director General Dondo Mogajane said the fiscal results for fiscal year 2020/21 showed a budget deficit of 11 percent of GDP. National Treasury Director General Dondo Mogajane said the fiscal results for fiscal year 2020/21 showed a budget deficit of 11 percent of GDP. Chief Director of the National Treasury and Acting Head […]]]>


National Treasury Director General Dondo Mogajane said the fiscal results for fiscal year 2020/21 showed a budget deficit of 11 percent of GDP.

  • National Treasury Director General Dondo Mogajane said the fiscal results for fiscal year 2020/21 showed a budget deficit of 11 percent of GDP.
  • Chief Director of the National Treasury and Acting Head of the Budget Office Edgar Sishi said debt has become the second largest item of expenditure and will soon become the largest.
  • Deputy Finance Minister David Masondo said public entities continued to pose a threat to the tax authorities as well as to economic recovery.

National Treasury Director General Dondo Mogajane told Parliament’s Standing Committee on Appropriations that while the government is confident in Operation Vulindlela’s ability to put South Africa on the path to economic recovery, levels unsustainable debt levels remained a threat.

The National Treasury briefed the committee on Wednesday morning in a virtual meeting, following a series of economic turmoil, including the nationwide Covid-19 lockdown and the July unrest that destroyed businesses in Gauteng and KwaZulu -Native.

Operation Vulindlela is a “delivery unit” created to accelerate key government interventions aimed at strengthening structural reforms, including a stable energy supply, reduced data and communication costs, a freight and logistics review, a sustainable water supply and a modernized visa regime.

Unity is central to President Cyril Ramaphosa’s political approach and is a lasting legacy from the time of former Finance Minister Tito Mboweni at the National Treasury.

However, cases like Mineral Resources and Energy Minister Gwede Mantashe amending the rules for 100 MW generation license exemptions and conflicting civil service salary negotiations add uncertainty to Treasury plans to hand over. South Africa’s finances measure up.

Attention will turn to Finance Minister Enoch Godongwana’s medium-term fiscal policy statement in October to see how he balances this function with South Africa’s most pressing fiscal challenges.

The National Treasury told the Credit Standing Committee that while monitoring the progress of Operation Vulindlela, South Africa needed public entities and government departments to function more effectively for the unit to deliver results.

Mogajane said fiscal year 2020/21 results showed a budget deficit of 11 percent of GDP or R552 billion, characterized by high government spending and higher debt as South Africa’s growth did not recover.

“Structural reforms are essential for the dynamics of growth rather than higher deficits and new accumulation of debt. Fiscal consolidation is needed to avoid a debt or fiscal crisis, ”Mogajane said.

Mogajane said the GDP, spending and deficit were much worse than the 2020 budget estimates, highlighting the deleterious effect of the Covid-19 pandemic on public finances and the economy.

“Nonetheless, performance was slightly better than expected in the 2021 budget. Compared to the 2020 budget estimates, the main budget deficit was worse than expected by 183.9 billion rand or 4.2 percentage points of GDP,” he said. declared Mogajane.

The Chief Director of the National Treasury and Acting Head of the Budget Office, Edgar Sishi, told the committee that debt has become the second largest item of expenditure and will soon become the largest item of expenditure for the South African government.

“Our debt has, as stated in the past [few] budget deposits and the special adjustment budget in June of last year, has increased quite dramatically in recent years. We are sitting on a debt level of just under 80% of GDP.

“To put it in terms of rand, we owe around 4 trillion rand to various lenders around the world. This debt incurs interest charges and the cost of servicing that debt now amounts to hundreds of billions of dollars. rands, ”Sishi said.

Sishi said that in 2021, the government is expected to spend R 270 billion just on the cost of servicing the debt and will have to be paid before anything else in the fiscus is taken into account. He said the contingent liability is expected to reach R1 trillion by next year.

Deputy Finance Minister David Masondo said public entities continued to pose a threat to the tax authorities as well as to economic recovery. He said South Africa cannot continue to support state-owned enterprises that undermine economic recovery and will cut ties with these entities if necessary.

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Britain and allies must not use new IMF Special Drawing Rights to add to poor countries’ debt http://www.zurc2.com/britain-and-allies-must-not-use-new-imf-special-drawing-rights-to-add-to-poor-countries-debt/ http://www.zurc2.com/britain-and-allies-must-not-use-new-imf-special-drawing-rights-to-add-to-poor-countries-debt/#respond Thu, 26 Aug 2021 05:00:00 +0000 http://www.zurc2.com/britain-and-allies-must-not-use-new-imf-special-drawing-rights-to-add-to-poor-countries-debt/ In 2008, the IMF created Special Drawing Rights (SDRs) – an international reserve asset used to supplement official reserves of member countries – in response to the global financial crisis. This week, he did it again with a new target in mind: the coronavirus. The IMF estimates that the end of the pandemic could inject […]]]>


In 2008, the IMF created Special Drawing Rights (SDRs) – an international reserve asset used to supplement official reserves of member countries – in response to the global financial crisis. This week, he did it again with a new target in mind: the coronavirus.

The IMF estimates that the end of the pandemic could inject $ 9 billion into the global economy by 2025. At the international development agency CAFOD, we know that our partners in southern countries are doing all they can to respond to pandemic, but it’s overwhelming, expensive and exhausting.

The IMF calls its new issue of $ 650 billion in special drawing rights a “punch in the arm” to fight Covid-19. But his proposals for G7 countries to lend their SDRs to the poorest countries through the IMF could potentially include conditions to reduce health spending in the future, increase the overall debt burden and, ultimately. of account, will be too slow to fight against the pandemic.

There is, of course, a role for concessional financing through the IMF – and we will continue to push for this to be implemented in the most effective way possible.

But for decades, the IMF forced countries in Asia, Africa and Latin America to cut vital social spending. This in turn decimated their already weak health systems, meaning they were almost defenseless against a pandemic of this magnitude. If the SDRs are reissued in the form of loans with conditions, this would undermine longer-term debt sustainability. This is not just a complaint from an NGO, it is also the belief of a credit rating agency S&P.

The UK received its share of SDRs on Monday. About £ 20bn has been added to reserves – which had already grown from £ 52bn in July 2009 to around £ 126bn in April 2021. To make the most of this truly historic opportunity to bring the pandemic under control , countries like the UK must find ways to use its SDRs that will immediately make a difference – or risk prolonging the pandemic and the global path to economic recovery.

“We need to make sure that SDRs are not simply loaned to the poorest countries, even at zero interest. We can maximize our aid by maximizing the value of the SDRs that we convert into grants, ”Labor MP Liam Byrne recently said. It is a political decision as much as an economic one. Byrne’s suggestion was eloquent and bears repeating in its entirety: “It’s perfectly possible… it all depends on how countries like the UK choose to use foreign currency and SDRs in our reserves. When the new SDRs arrive this fall, we could substitute them for some of our dollar stocks, sell the dollars for pounds, and redirect that windfall to aid.

Rishi Sunak could decide to do so now and it would be in line with UK law. As stated in Section 2 of the Foreign Exchange Equalization Account Act: “If at any time the Treasury is of the opinion that the sterling assets of the account exceed for the time being what is required for the purposes of the account, the Treasury may order that the excess be paid into the National Loan Fund. From the National Loan Fund the Treasury could transfer Sterling to central funds, then make billions of pounds in donations to entities such as the COVAX international vaccine pooling initiative – and make significant progress in the fight against Covid-19 and international efforts to vaccination.

England to drop remaining Covid-19 social rules amid rising infections

Several billion pounds is a significant amount of money, but to put it in context, the Chancellor’s 2021-2022 package is around 407 billion pounds. With just 3% of the new $ 650 billion SDRs going to low-income countries under the IMF’s quota system, the urgent priority is for G7 countries to use their influx of funds to make vital donations to bring Covid under control. , end the loss of life and limit the ongoing economic damage.

Choosing not to do so could lead to financial and social disaster.





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South Korea raises interest rates to record high as debt threats rise http://www.zurc2.com/south-korea-raises-interest-rates-to-record-high-as-debt-threats-rise/ http://www.zurc2.com/south-korea-raises-interest-rates-to-record-high-as-debt-threats-rise/#respond Thu, 26 Aug 2021 04:50:00 +0000 http://www.zurc2.com/south-korea-raises-interest-rates-to-record-high-as-debt-threats-rise/ A rating earned by South Korea can be seen in this illustrative photo on May 31, 2017. REUTERS / Thomas White / Illustration South Korea’s base rate raised to 0.75%, as expected First rate hike since November 2018 aimed at curbing debt growth Board member Joo Sang-yong the sole dissenter in the hike decision SEOUL, […]]]>


A rating earned by South Korea can be seen in this illustrative photo on May 31, 2017. REUTERS / Thomas White / Illustration

  • South Korea’s base rate raised to 0.75%, as expected
  • First rate hike since November 2018 aimed at curbing debt growth
  • Board member Joo Sang-yong the sole dissenter in the hike decision

SEOUL, Aug.26 (Reuters) – The Bank of Korea on Thursday raised its key rate for the first time in nearly three years, becoming the first major Asian central bank to move away from pandemic-era monetary parameters as increasing consumer debt created new threats to the economy.

Governor Lee Ju-yeol maintained his hawkish tone and suggested the bank could tighten policy further, as data showed Asia’s fourth-largest economy was overheating.

“We won’t do things in a hurry, but neither will we hold out,” Lee said at a press conference, responding to a question about the timing of further tightening.

“As for the timing of the further hikes, we will look at how the COVID-19 situation has developed and changes in the direction of Fed policy direction, which would have a significant impact for us, as well as how financial imbalances. “

Joo Sang-yong, a known dove on the BOK board, was the only one of six board members to vote to keep rates stable as the bank raised the benchmark interest rate (KROCRT = ECI) 25 basis points at 0.75%, as expected. by most analysts. Read more

The BOK also raised its inflation projection to 2.1% from 1.8% previously, signaling that conditions are preparing for further policy tightening.

“If there is another rate hike this year, it will likely be in November, given that there will be at least two or three rate hikes needed, including today’s meeting to deal with the risk of financial imbalance “, Paik Yoon-min, Fixed Income Analyst. at Kyobo Securities, which now sees another hike in November, transmitted from January 2022.

The benchmark KOSPI fell sharply after the rate decision, while the South Korean won strengthened.

Policymakers have been reporting higher rates since May, but expectations of a hike have recently been lowered due to the latest COVID-19 outbreak in South Korea, which has forced the economy into a semi-lockdown. Read more

Central banks around the world are paving the way for a transition away from the crisis-era stimulus measures, as what started as emergency support for collapsing growth now overheats many economies.

The BOK move comes a day before Federal Reserve Chairman Jerome Powell delivers his speech at the US central bank’s annual symposium in Jackson Hole, where he is expected to signal the future direction of US monetary policy. Read more

Most of the central banks that have raised rates this year are in emerging economies, concerned about capital flight and imported inflation. In Asia, Sri Lanka hiked rates last week, becoming the first in the region to do so. Read more

The BOK’s move poses a calculated risk that South Korea’s export-driven economy, which rebounded from last year’s pandemic crisis, will be healthy enough to start slashing stimulus, all the more that excess debt is quickly becoming an economic problem. Read more

This contrasts with New Zealand, which delayed a widely expected interest rate hike last week as its first COVID-19 outbreak in six months left uncertainty over its economic recovery. Read more

Analysts expect the BOK to raise interest rates next year, with most seeing the base rate at 1.25% by the end of 2022, although Governor Lee’s comments suggest that the bank remains in a hawkish position.

The policy decision is the first rate review the BOK has had as a six-member body after board member Koh Seung-beom stepped down to lead the regulator of the Financial Services Commission.

Two more interest rate review meetings are scheduled for this year.

Reuters Charts

Additional reporting by Choonsik Yoo, Jihoon Lee Editing by Sam Holmes

Our standards: Thomson Reuters Trust Principles.



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[News Focus] National debt increases by W100tr in just 9 months http://www.zurc2.com/news-focus-national-debt-increases-by-w100tr-in-just-9-months-2/ http://www.zurc2.com/news-focus-national-debt-increases-by-w100tr-in-just-9-months-2/#respond Thu, 26 Aug 2021 02:53:14 +0000 http://www.zurc2.com/news-focus-national-debt-increases-by-w100tr-in-just-9-months-2/ A capture from the National Assembly’s Budget Office homepage indicates that Korea’s national debt is well over 900 trillion won on Thursday. (National Assembly Budget Office) SEJONG – South Korea’s national debt is believed to have exceeded 900 trillion won ($ 770 billion) this year for the first time, although the government has yet to […]]]>


A capture from the National Assembly’s Budget Office homepage indicates that Korea’s national debt is well over 900 trillion won on Thursday. (National Assembly Budget Office)

SEJONG – South Korea’s national debt is believed to have exceeded 900 trillion won ($ 770 billion) this year for the first time, although the government has yet to release the updated official figure.

According to calculations by the National Assembly’s Budget Office, the national debt – debt directly held by central and local governments – was estimated at 938.9 trillion won on Thursday. The latest official figure, released by the government, was 898.1 trillion won in June.

This means that total debt has grown by more than 100,000 billion won in nine months, after first hitting the 800 trillion won mark in November 2020.

And from 660.7 trillion won at the end of 2017, it was up 42.1 percent. The Moon Jae-in administration took office in May 2017.

(Graphic by Kim Sun-young / The Korea Herald)

(Graphic by Kim Sun-young / The Korea Herald)

Last year, Korea’s nominal gross domestic product recorded 1,933.1 trillion won, indicating that the ratio of national debt to GDP is estimated to have approached 50% for the first time to reach a record level of 48.5%.

The estimated figure for August 2021 could mean an increase of around 6 percentage points from the end of 2020, when the ratio was 41.6%, but this estimate depends on factors such as GDP for GDP in 2021 and whether the purchase by the Ministry of Finance of Treasury bonds to repay part of the debt.

Recent debt-to-GDP ratios were 36% in 2017, 32.6% in 2013, 29.8% in 2009, 25.9% in 2005 and 17.2% in 2001, according to data from the Ministry of the Economy and Finance.

Despite concerns over the alarming fiscal health, ruling party lawmakers and government officials continued to downplay the importance, saying the level of debt to GDP was still “way behind schedule. OECD average “.

In the aftermath of the pandemic since early 2020, government spending – including payments for hard-hit households and industries – has become more vigorous, in addition to full-fledged stimulus packages, such as active issuance. treasury bills, since before the pandemic.

Opponents continued to question the effectiveness of fiscal expansion via increased debt under administration. They pointed to a sharp increase in only non-regular jobs and disappointing GDP growth – below 3% in 2018 and 2019, and minus 0.9% in 2020.

The government refutes the critics, saying the policies have benefited the overall economy.

According to the National Assembly Budget Office, the desirable national debt per capita is 18.17 million won for a population of 51.6 million.

The figure jumped to around 2.7 million won in less than a year, from 15.42 million won in September 2020, after crossing the 13 million won mark for the first time in February 2018.

Sovereign debt per capita was 11.59 million at the end of 2015. This means that the national debt burden of an ordinary citizen has increased by 56%, on an arithmetic basis, in about six years.

By Kim Yon-se (kys@heraldcorp.com)



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[News Focus] National debt increases by W100tr in just 9 months http://www.zurc2.com/news-focus-national-debt-increases-by-w100tr-in-just-9-months/ http://www.zurc2.com/news-focus-national-debt-increases-by-w100tr-in-just-9-months/#respond Thu, 26 Aug 2021 02:53:14 +0000 http://www.zurc2.com/news-focus-national-debt-increases-by-w100tr-in-just-9-months/ A capture from the National Assembly’s Budget Office homepage indicates that Korea’s national debt is well over 900 trillion won on Thursday. (National Assembly Budget Office) SEJONG – South Korea’s national debt is believed to have exceeded 900 trillion won ($ 770 billion) this year for the first time, although the government has yet to […]]]>


A capture from the National Assembly’s Budget Office homepage indicates that Korea’s national debt is well over 900 trillion won on Thursday. (National Assembly Budget Office)

SEJONG – South Korea’s national debt is believed to have exceeded 900 trillion won ($ 770 billion) this year for the first time, although the government has yet to release the updated official figure.

According to calculations by the National Assembly’s Budget Office, the national debt – debt directly held by central and local governments – was estimated at 938.9 trillion won on Thursday. The latest official figure, released by the government, was 898.1 trillion won in June.

This means that total debt has grown by more than 100,000 billion won in nine months, after first hitting the 800 trillion won mark in November 2020.

And from 660.7 trillion won at the end of 2017, it was up 42.1 percent. The Moon Jae-in administration took office in May 2017.

(Graphic by Kim Sun-young / The Korea Herald)

(Graphic by Kim Sun-young / The Korea Herald)

Last year, Korea’s nominal gross domestic product recorded 1,933.1 trillion won, indicating that the national debt-to-GDP ratio is estimated to have approached 50% for the first time to reach a record level of 48.5%.

The estimated figure for August 2021 could mean an increase of around 6 percentage points from the end of 2020, when the ratio was 41.6%, but this estimate depends on factors such as GDP for GDP in 2021 and whether the purchase by the Ministry of Finance of Treasury bonds to repay part of the debt.

Recent debt-to-GDP ratios were 36% in 2017, 32.6% in 2013, 29.8% in 2009, 25.9% in 2005 and 17.2% in 2001, according to data from the Ministry of the Economy and Finance.

Despite concerns over the alarming fiscal health, ruling party lawmakers and government officials continued to downplay the importance, saying the level of debt-to-GDP was still “way behind schedule. OECD average “.

In the aftermath of the pandemic since early 2020, government spending – including payments for hard-hit households and industries – has become more vigorous, in addition to full-fledged stimulus packages, such as active issuance. treasury bills, since before the pandemic.

Opponents continued to question the effectiveness of fiscal expansion via increased debt under administration. They pointed to a sharp increase in only non-regular jobs and disappointing GDP growth – below 3% in 2018 and 2019, and minus 0.9% in 2020.

The government refutes the critics, saying the policies have benefited the overall economy.

According to the National Assembly Budget Office, the desirable national debt per capita is 18.17 million won for a population of 51.6 million.

The figure jumped to around 2.7 million won in less than a year, from 15.42 million won in September 2020, after crossing the 13 million won mark for the first time in February 2018.

Sovereign debt per capita was 11.59 million at the end of 2015. This means that the national debt burden of an ordinary citizen has increased by 56%, on an arithmetic basis, in about six years.

By Kim Yon-se (kys@heraldcorp.com)



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Blackstone Appoints Leading Korean Bank As Debt Advisor For Ta Khoa Project http://www.zurc2.com/blackstone-appoints-leading-korean-bank-as-debt-advisor-for-ta-khoa-project/ http://www.zurc2.com/blackstone-appoints-leading-korean-bank-as-debt-advisor-for-ta-khoa-project/#respond Thu, 26 Aug 2021 02:37:30 +0000 http://www.zurc2.com/blackstone-appoints-leading-korean-bank-as-debt-advisor-for-ta-khoa-project/ Blackstone Minerals (“Blackstone” or the “Company”) is pleased to announce the appointment of leading independent advisors to arrange debt financing for the development of the Ta Khoa Nickel-Copper – PGE project and the downstream refinery project. (Ta Khoa project) vertically integrated). The Korea Development Bank (KDB) and BurnView Corporate Finance (BurnView) will act jointly … […]]]>


Blackstone Minerals (“Blackstone” or the “Company”) is pleased to announce the appointment of leading independent advisors to arrange debt financing for the development of the Ta Khoa Nickel-Copper – PGE project and the downstream refinery project. (Ta Khoa project) vertically integrated). The Korea Development Bank (KDB) and BurnView Corporate Finance (BurnView) will act jointly …

Blackstone Minerals (“Blackstone” or the “Company”) is pleased to announce the appointment of leading independent advisors to arrange debt financing for the development of the Ta Khoa Nickel-Copper – PGE project and the downstream refinery project. (Ta Khoa project) vertically integrated).


The Development Bank of Korea (KDB) and BurnView Corporate Finance (BurnView) will act jointly and in collaboration with Blackstone to secure attractive and flexible financing for the development of the Ta Khoa project.

Blackstone Mineralslackstone Minerals Managing Director Scott Williamson said: “KDB and BurnView bring their respective strengths along the lithium-ion battery value chain, including strong relationships with potential refinery customers downstream of Ta Khoa. KDB and BurnView both have extensive experience in organizing development finance for quality projects, and their involvement in the Ta Khoa project is an endorsement of Blackstone’s strategy and execution capacity.

“KDB and BurnView will work closely with Blackstone to organize financing on competitive terms to support our integrated development strategy. KDB and BurnView will work in conjunction with Blackstone to ensure that ongoing feasibility work is performed to the highest standards and withstands the rigors of independent due diligence. It is important to note that funding will be obtained by aligning with the standards set out in the Equator Principles and Blackstone’s own sustainability goals. ”

About the Korean Development Bank

Established in 1954, Korea Development Bank is a 100% state-owned investment bank that provides strong financial support to clients developing infrastructure projects. Over the past decade, KDB has developed a global footprint in project finance and has successfully led and closed international energy and infrastructure project finance. KDB maintains strong relationships and collaborates with the world’s leading project finance institutions, including multilateral agencies, ECAs and peers, having provided project finance services to international developers such as Hyundai, Samsung, SK, Posco and Hanwha.

About BurnSee Corporate Finance

BurnView Corporate Finance is a leading independent Australian investment and advisory firm with extensive experience and experience in arranging finance in the energy, resources and infrastructure sectors. Details on BurnView can be found at burnvoir.com.au.

BurnView has arranged financing for a number of battery metals projects over the past few years, including for Pilbara Minerals Limited (Pilgangoora project, lithium) and AU $ 1.1 billion in credit facilities for the recent acquisition by IGO of a stake in the Greenbushes lithium mine and Kwinana lithium hydroxide. Refinery.

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Wisr takes over personal loans from big banks http://www.zurc2.com/wisr-takes-over-personal-loans-from-big-banks/ http://www.zurc2.com/wisr-takes-over-personal-loans-from-big-banks/#respond Thu, 26 Aug 2021 01:46:00 +0000 http://www.zurc2.com/wisr-takes-over-personal-loans-from-big-banks/ Operating revenue increased 280% to $ 27 million during the year, but expenses were also $ 27 million. Wisr’s overall loss for the year was $ 17.6 million, an improvement from a loss of $ 25 million in 2020. Its loan portfolio is currently $ 432 million, with loan write-offs. for the year to $ […]]]>


Operating revenue increased 280% to $ 27 million during the year, but expenses were also $ 27 million. Wisr’s overall loss for the year was $ 17.6 million, an improvement from a loss of $ 25 million in 2020. Its loan portfolio is currently $ 432 million, with loan write-offs. for the year to $ 2.2 million.

Wisr improved its profit before taxes, depreciation and amortization to $ 10 million, from $ 14 million in 2020, and the company said its operating cash flow was positive for the first time in June. With a $ 1 billion loan portfolio – a medium-term goal – he said he could generate around $ 120 million in revenue and $ 45 million in EBITDA in cash.

Valued at $ 370 million on the ASX, Wisr is just bigger than MoneyMe, which will release its numbers for the full year on Monday. Plenti and Harmoney are also in the ASX-listed fintech personal loan space, while SocietyOne is still considering listing. In its annual results for May, Plenti said new loans increased 64% to $ 470 million in the year ending March 31 and were heading towards $ 690 million for 2022.

All the new brands of personal loans are growing and taking shares in the big banks which continue to focus their efforts on mortgage and business loans. Personal loans were one of the few areas to decline for the Commonwealth Bank last year, with the nation’s largest lender reporting a 6.6% drop in consumer credit to $ 17 billion .

Latitude, meanwhile, reported an 81% increase in its cash profits for its first half this week, thanks to strong demand for personal and auto loans.

Like Plenti, Wisr added a secured vehicle loan product, which at $ 86 million now represents 20% of its portfolio. In March, Wisr made a strategic investment in a European company Arbor, which she will use to launch personal loans in the European Union.

Wisr raised $ 55 million in equity in June and launched its first securitization deal in May, issuing $ 225 million in securities backed by its unsecured personal loans. It also expanded its National Australia Bank warehouse from $ 50 million to $ 350 million.

“We have consolidated the balance sheet and we are investing in growth,” said CEO Anthony Nantes.



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Disrupts debt industry through a digital platform for debt management http://www.zurc2.com/payday-loan-bad-credit-its-easy-to-request-a-payday-loan-for-really-bad-credit/ http://www.zurc2.com/payday-loan-bad-credit-its-easy-to-request-a-payday-loan-for-really-bad-credit/#respond Wed, 25 Aug 2021 22:50:53 +0000 http://www.zurc2.com/credit-clear-disrupts-the-debt-industry-with-a-digital-debt-management-platform/ The platform uses machine learning and artificial intelligence helping individuals to improve customer engagement. Personalized emails and SMS messages are sent to customers “at the right moment in the correct language” to encourage them to make immediate payments in their entirety, to set payment terms, or to request reminders. Credit Clear claims that the platform’s “secure […]]]>

The platform uses machine learning and artificial intelligence helping individuals to improve customer engagement. Personalized emails and SMS messages are sent to customers “at the right moment in the correct language” to encourage them to make immediate payments in their entirety, to set payment terms, or to request reminders.

Credit Clear claims that the platform’s “secure and robust” design allows businesses to manage challenges and build long-lasting relationships with customers. This helps them to increase fundraising success.

Increasing customer base

Credit Clear launched in 2017 and has since managed more than 3.6 million invoices. Credit Clear has also collected more $ 180 millions for clients. Credit Clear has increased its debt collection rates by 30%.

After raising $15 million through an initial public offering (IPO), the company also became listed on ASX last month. The proceeds were used to accelerate the development of its proprietary technology platform.

She serves many blue-chip clients in a variety of industries, including financial providers Bendigo Bank, ME Bank, Prospa, SocietyOne, Suncorp Insurance Company, ASX: SUN), utility providers Kleenheat Synergy, Horizon Power, and public water companies throughout Western Australia, South Australia, and South East Victoria.

Additionally, he works with automotive clients, such as Toyota Finance Australia and BMW, as well as tire maker Bridgestone. He also manages the Seek employment platform (ASX : SEK), and government agencies like Queensland Health and Public Transport Victoria.

Annual results

Credit Clear had strong fiscal 2021 results, with record revenue of $ 11. million. This is up 70% from fiscal 2020.

This is $3.5 million in digital revenue, an increase of 147% over the prior year. The digital gross profit margin was 94%. It shows that digital technology is being increasingly adopted.

“Our innovative digital solution continue to show a strong pullover traditional collection methods as evidenced by high conversion rate of over 1,250%,” said the company.

Credit Clear boasts 967 active clients, 3% more than last years, a client retention ratio above 99%, and 82 new clients. According to Credit Clear, its retention rate is due to its “high engagement level and exceptional feedback.”

It had $ 10.7 millions in cash and equivalents at the end June. This was mainly due to the cash injection of October 2020.

New CEO to lead the growth strategy

Credit Clear started fiscal 2022 with David Hentschke being appointed Managing Director. He will be leading an ambitious strategy to increase revenue, expand technology platforms, and explore international opportunities.

Hentschke was a leader in a number of high growth tech companies. He has been responsible for strategy, international development, and corporate issues at the recently listed $ 3B real estate settlement company PEXA Group. (ASX: PXA). . He was also a member the management team at Equigen, a private credit tech company. Equigen was later acquired by Data Advantage (now Equifax Australia).

“Credit Clear continues to drive change in payments and customer engagement with its scalable software-as-a-service offering and cutting-edge technology. “I look forward to working alongside the team to further develop our next-generation technology and dramatically improve customer experience and deliver shareholder benefit,” stated Mr. Hentschke.

Credit Clear is planning to build and deploy a “new, exciting” platform functionality. Credit Clear also aims to leverage its digital core capability to grow its market share in target verticals.

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Ashford Trust Completes Mortgage Refinance for the Hilton Boston Back Bay http://www.zurc2.com/ashford-trust-completes-mortgage-refinance-for-the-hilton-boston-back-bay/ http://www.zurc2.com/ashford-trust-completes-mortgage-refinance-for-the-hilton-boston-back-bay/#respond Wed, 25 Aug 2021 22:30:00 +0000 http://www.zurc2.com/ashford-trust-completes-mortgage-refinance-for-the-hilton-boston-back-bay/ DALLAS, 25 August 2021 / PRNewswire / – Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced that it has successfully refinanced its mortgage for the 390-room Hilton Boston Back Bay in Boston, Massachusetts which had a final maturity date of November 2022. The Company only had one material final debt […]]]>


DALLAS, 25 August 2021 / PRNewswire / – Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced that it has successfully refinanced its mortgage for the 390-room Hilton Boston Back Bay in Boston, Massachusetts which had a final maturity date of November 2022. The Company only had one material final debt maturity in 2022, but this financing relates to this loan. In addition, the Company was able to supplement this financing with a leading institutional balance sheet lender.

The new total of non-recourse loans $ 98.0 million and has an initial term of four years with an option to extend for one year, subject to the satisfaction of certain conditions. The loan bears interest only for the initial term with $ 500,000 quarterly amortization payments during the extension period, and provides for a variable interest rate of LIBOR + 3.80%.

“This transaction was a great opportunity for us to refinance and extend an upcoming maturity at an attractive price for one of our high quality transient-focused assets that is well positioned for the economic recovery,” commented Rob hays, President and CEO of Ashford Trust. “This is another example of our willingness to be proactive in our activities in the capital markets and in the management of our balance sheet.”

Robert douglas, a real estate consultancy specializing in providing capital solutions to the hospitality industry, assisted Ashford Trust in this transaction.

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing primarily in high-end, full-service hotels.

Follow CEO Rob hays on Twitter at https://twitter.com/aht_rob or @aht_rob.

Forward-looking statements

Certain statements and assumptions contained in this press release contain or are based on “forward-looking” information and are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this press release include , among others, statements on the strategy and future plans of the Company. These forward-looking statements are subject to risks and uncertainties. When we use the words “will probably result”, “may”, “anticipate”, “estimate”, “should”, “expect”, “believe”, “intend” or similar expressions, we have intend to identify statements. Such statements are subject to many assumptions and uncertainties, many of which are beyond the control of Ashford Trust.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: the impact of COVID-19, and the rate of adoption and effectiveness of vaccines to prevent COVID-19, on our business and investment strategy; the timing and outcome of the Securities and Exchange Commission investigation; our ability to regain S-3 eligibility; our ability to repay, refinance or restructure our indebtedness and the indebtedness of some of our subsidiaries; anticipated or expected asset purchases or sales; our projected operating results; the completion of all pending transactions; our understanding of our competitors; market trends; projected capital expenditures; the impact of technology on our operations and activities; general volatility in capital markets and the market price of our common and preferred shares; availability, conditions and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the economy in general; and the degree and nature of our competition. These and other risk factors are discussed in more detail in documents filed by Ashford Trust with the Securities and Exchange Commission.

The forward-looking statements included in this press release are made only as of the date of this press release. These forward-looking statements are based on our beliefs, assumptions and expectations regarding our future performance, taking into account all the information currently available to us. These beliefs, assumptions and expectations can change due to many events or potential factors, not all of which we are aware of. If any change occurs, our business, financial condition, liquidity, results of operations, plans and other objectives may differ materially from those expressed in our forward-looking statements. You should carefully consider these risks when making an investment decision regarding our securities. Investors should not place undue reliance on these forward-looking statements. The Company cannot guarantee that these forward-looking statements will be achieved or that no deviations will occur. We are under no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise, except to the extent required by law. law.

Cision

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SOURCE Ashford Hospitality Trust, Inc.





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