Finance Industry

Colombia’s Duque names Alberto Carrasquilla as his finance minister

BOGOTA (Reuters) – Colombian President-elect Ivan Duque on Wednesday named Alberto Carrasquilla as his finance minister when he takes office in August, and said he and the central bank agreed on the need to bolster economic growth and strengthen the middle class. Carrasquilla, 59, served as finance minister for former President Alvaro Uribe from 2003 to 2007, during Uribe’s first term, and as Duque’s adviser during his presidential campaign. Duque met with the seven-member central bank board for lunch and…

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Kejriwal’s most ‘generous’ electricity subsidy is inefficient and open to financial engineering

The subsidy being given by the Delhi government is most ‘generous’ in India but is also ‘inefficient’ and open to ‘financial engineering’, a research report by Brookings has said. The subsidy being given by the Delhi government is most ‘generous’ in India but is also ‘inefficient’ and open to ‘financial engineering’, a research report by Brookings has said. In a scathing report, Brookings has pointed out that it is “ostensibly the middle classes that enjoy “more benefits on a percentage basis…

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New Research Demonstrates The Evolution Of ‘Financial Invisibles’ Perceptions And Behaviors

Financial invisibles are those who are either neglected by or left out of the traditional financial system. Their lack of participation originates from their life circumstances, perception of their current financial stability and their outlook on the future. PYMNTS, in collaboration with Unifund, surveyed 2,000 Americans to dive into and derive insights from their relationships with credit and debt. The survey analyzed four personas: No Worries: People who have no delinquencies and can fully participate in the financial system Second…

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Boutique Independent Broker-Dealer, Prospera Financial Services, Welcomes Becker Suffern McLanahan, Ltd. to the Firm, Adding $840 Million in AUM

DALLAS, July 10, 2018 /PRNewswire/ — Prospera Financial Services, Inc. (Prospera) is proud to announce the affiliation of John Becker, Brian Becker, Patrick Suffern and Timothy McLanahan of Becker Suffern McLanahan to the firm. The team started in 1961 with its headquarters in Mandeville, Louisiana and brings with them $840 million in AUM. Collectively, the team holds over 120 years of industry experience. Prospera, a privately held company, is a Texas-based financial firm founded in 1982 as a full-service, boutique…

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Japan picks Endo as top financial regulator, signals bank reforms to continue | Money

Japan’s Deputy Prime Minister and Finance Minister Taro Aso speaks to reporters in Tokyo March 12, 2018. — Reuters pic TOKYO, July 10 — Japan’s government on today appointed career bureaucrat Toshihide Endo as its top financial regulator, a move widely seen as a sign that reforms to make the banking sector more profitable will continue. Endo, 59, currently director-general of the watchdog’s supervisory bureau, will succeed Financial Services Agency (FSA) Commissioner Nobuchika Mori, who in his three-year stint has…

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Steve Bruce hands Aston Villa fans a crumb of comfort amidst financial strife

Aston Villa will lose Jack Grealish this summer – but his departure will pave the way for another academy graduate. Steve Bruce has confirmed that he intends to hand Villa’s youngsters further playing time in the 2018/19 season with owner Tony Xia not planning to loosen the purse strings. Villa’s financial predicament means expensive incomings are unlikely and that will allow a couple to step off the production line. Attacking quartet Andre Green, Callum O’Hare, Keinan Davis and Rushian Hepburn-Murphy…

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StoneCastle Financial Corp. to Host Second Fiscal Quarter 2018 Earnings Conference Call

StoneCastle Financial Corp., BANX, +0.48% (“StoneCastle Financial” or the “Company”), today announced that it will release financial results for the fiscal period ended June 30, 2018 after the market closes on Thursday, August 9, 2018. StoneCastle Financial will host a conference call for investors and other interested parties beginning at 5:00 p.m. (Eastern Time) on August 9,…

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NAICOM to evolve NIIDP to boost financial inclusion –

The Commissioner for Insurance in Nigeria, Alhaji Mohammed Kari, disclosed the plan on Monday at the opening ceremony of the 2018 National Insurance Conference in Abuja. As part of efforts to deepen financial inclusion through insurance, the National Insurance Commission is to launch Nigerian Insurance Industry Development Plan.The Commissioner for Insurance in Nigeria, Alhaji Mohammed Kari, disclosed the plan on Monday at the opening ceremony of the 2018 National Insurance Conference in Abuja.He said that the NIIDP would have financial…

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Financial Aid, Scholarship and Scheduling Day is July 18

HAMLET — While every day at Richmond Community College is considered a “registration day,” the college will be holding a Financial Aid, Scholarship and Scheduling Day on Wednesday, July 18, to help people complete all the admission steps for fall semester. On July 18, you can meet with counselors and faculty to get one-on-one help with everything from starting the FAFSA process to completing a scholarship application to registering for fall classes. There are steps you can complete to get…

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(LEAD) Top regulator warns of ‘war’ against financial firms to bolster consumer protection

(ATTN: UPDATES with remarks, details in paras 1-7; CHANGES headline) SEOUL, July 9 (Yonhap) – The chief of South Korea’s financial watchdog on Monday raised the stakes in efforts to better protect consumers, saying the watchdog will wage “war” against abusive or deceptive business practices by firms. Yoon Suk-heun, governor of the Financial Supervisory Service (FSS), made the remarks as he laid out plans to reform the regulatory body. Yoon said sales of defective financial products have been on the…

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Broker’s call: Shriram Transport Finance

CMP: ₹1,140 Target: ₹1,440 In our May 2018 reinitiating coverage note on Shriram Transport Finance (SHTF), we had indicated that 1) we expect per cent16 per cent 3-year AUM CAGR of SHTF as the estimated financing opportunity for 5-10 year pre-owned vehicles is ₹2.5 lakh crore, ii) With NPA recognition at 90+ DPD, pace of fresh NPA creation will moderate leading to improvement in FY19E credit cost; and 3) margins can come under pressure if SHTF targets lower vintage vehicles.…

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IRTI mulls setting up Islamic social finance centre

The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group is considering partnering with other institutions to establish a centre of excellence on Islamic social finance as part of efforts to develop the sector. IRTI director general Dr Humayon Dar, encountered demand for such a centre during a visit to a number of institutions in Jakarta, following his participation in the recently held 3rd Annual Islamic Finance Conference in Makassar, Indonesia. The conference was organized by…

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Financial education vital, local leaders say | Business

An immigrant from the Dominican Republic, Max Montesino is familiar with the narrative of Latinos being unfamiliar with the American financial system. For many countries in Central and South America, a formal banking system is mostly used by the wealthy, urban and educated population. However, most immigrants come from poorer, more rural and less educated places within those countries, said Montesino, an associate professor of organizational leadership at Purdue Fort Wayne and board member of the Hispanic Leadership Coalition of…

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