Showing posts with label resume. Show all posts
Showing posts with label resume. Show all posts

Monday, November 18, 2013

Goldman to resume talks on sale of metals warehouse unit: source

Goldman to resume talks on sale of metals warehouse unit: source
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/746cd__?m=02&d=20131118&t=2&i=812926216&w=460&fh=&fw=&ll=&pl=&r=CBRE9AH1EKS00.jpg




NEW YORK/LONDON Mon Nov 18, 2013 1:12pm EST



The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013. REUTERS/Lucas Jackson

The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013.


Credit: Reuters/Lucas Jackson




NEW YORK/LONDON (Reuters) – Goldman Sachs (GS.N) plans to resume talks with parties interested in buying its metals warehousing business now that new exchange rules have been released, a source familiar with the matter said on Monday.


The talks with potential buyers, which are largely firms based outside the United States, are not part of a formal sales process, the source said.


Metro International Trading Services, which stores aluminum and other metals as part of the London Metal Exchange (LME) warehouse system, has been at the center of a controversy around Wall Street’s ownership of physical commodity assets.


That controversy heated up after the bank was accused of boosting wait times and prices for metals consumers including makers of drink cans and cars.


More than a dozen parties have expressed an interest in buying the business, according to the Financial Times, which first reported the talks earlier on Monday.


The paper said several of the potential buyers were Chinese firms, including Chinese insurer Ping An and China Minmetals. Brazilian bank Grupo BTG Pactual SA (BBTG11.SA) is also actively looking at warehouse assets, trade and industry sources say.


Goldman looked at a possible sale of Metro earlier this year but put those efforts on hold while the LME reviewed the rules governing warehouses. The exchange earlier this month proposed new rules to crack down on the wait times for metals delivery, providing more clarity for warehouse owners.


The Federal Reserve announced a review of Wall Street’s role in physical commodities trading in July.


Goldman has recently insisted it remains committed to its commodities businesses even as rivals, including JPMorgan (JPM.N), have announced they are selling assets and exiting physical trading.


Fed Vice Chairman Janet Yellen, speaking last week at a Senate hearing on her nomination to become chairman of the central bank, said for the first time that the Fed may create new rules as part of its review.


Regulatory and legal experts say the most likely target is the banks’ direct ownership of warehouses, power plants, oil storage tanks and other infrastructure.


Goldman has said that Metro was bought under a “private equity exemption” that would allow the bank to own the business for up to 10 years as long as it operates at arm’s length from its commodities traders.


Fed-regulated banks are generally barred from owning physical assets such as warehouses and pipelines, but Goldman Sachs and Morgan Stanley (MS.N) have said they have the right to retain businesses they operated prior to converting to commercial banks at the peak of the financial crisis.


The bank bought Metro in 2010 for around $ 500 million.


(Reporting by Jonathan Leff in New York and David Sheppard in London; editing by Jane Baird)






Reuters: Business News




Read more about Goldman to resume talks on sale of metals warehouse unit: source and other interesting subjects concerning Business at TheDailyNewsReport.com

Thursday, October 31, 2013

Iran to resume north oil swap deals

Iran to resume north oil swap deals
http://isbigbrotherwatchingyou.com/wp-content/uploads/2013/10/fe63d__p-89EKCgBk8MZdE.gif

File photo shows an oil terminal in the northern Iranian city of Neka.



A senior Iranian energy official says the country is planning to resume crude oil swap operations at a northern terminal in the near future.


In a meeting with the officials of Iranian Oil Terminals Company (IOTC) on Wednesday, Managing director of National Iranian Oil Company (NIOC) Rokneddin Javadi said the revival of swap deals will increase the operational power of Iran’s oil industry and boost the efficiency of the Islamic Republic’s energy diplomacy.


“In order to prepare the necessary infrastructure to revive this operation, numerous meetings have been held with Oil Minister [Bijan Namdar Zanganeh] and positive results have been achieved,” he stated.



Javadi, also a deputy oil minister, pointed to the major projects undertaken by IOTC in northern Iran, stating that the construction of an oil pool and the development of northern terminal piers have progressed satisfactorily.

During the meeting, IOTC Managing Director Seyyed Pirouz Mousavi also stated that the revival of crude oil swap operations will enhance Iran’s oil diplomacy.


“In order for the strategic operation to materialize, the necessary infrastructure has been prepared and development projects related to the plan have become operational and their physical progress is favorable,” Mousavi added.


He stated that the construction of an oil pool, different and multipurpose piers — like those necessary for loading and unloading oil products, logistical piers and repair piers where 14,000-ton oil tankers can berth — will increase Iran’s crude oil swap capacity.


On May 18, Managing Director of the National Iranian Oil Products Distribution Company (NIOPDC) Mostafa Kashkouli said Iran plans to increase swap volume for oil products by 30 percent in the current Iranian year (started March 21, 2013).


Kashkouli added that Iran had swapped more than 100,000 tons of oil products during the previous Iranian calendar year.


MP/HMV/SS




PRESS TV RSS News




Read more about Iran to resume north oil swap deals and other interesting subjects concerning NSA at TheDailyNewsReport.com

Sunday, October 20, 2013

US to resume aid to Pakistan


October 20, 2013 10:15AM ET



Announcement comes days before Prime Minister Nawaz Sharif is scheduled to visit Washington for high-level talks


Topics:

Pakistan

Diplomacy

drones







Pakistani Prime Minister Nawaz Sharif, left, shakes hands with Secretary of State John Kerry, Aug. 1, 2013.Aamir Qureshi/AFP/Getty Images




The U.S. announced Saturday that it planned to release more than $ 1.6 billion in military and economic aid to Pakistan that was suspended more than two years ago when relations between the two countries soured over the covert raid that killed Osama bin Laden and U.S. airstrikes that killed numerous Pakistani soldiers.


The announcement comes days before Pakistan’s new prime minister, Nawaz Sharif, is scheduled to arrive in Washington for White House talks this week.


Congress has already cleared most of the money, which should start moving early next year, officials and congressional aides said, but neither Pakistan nor U.S. officials have touted the new round of aid.


“Funding was notified to Congress following a rigorous planning process over multiple months, to ensure it was in line with both U.S. and Pakistani interests, and would deliver important results for both countries,” Marie Harf, deputy spokesman for the State Department, said on Saturday.


Over three weeks in July and August, the State Department and the U.S. Agency for International Development informed Congress that it planned to restart a wide range of assistance, mostly dedicated to helping Pakistan fight terrorism. The U.S. sees that effort as essential as it withdraws troops from neighboring Afghanistan next year and tries to leave a stable government behind.


Other funds in the package focus on a range of items, including help for Pakistani law enforcement and a multibillion-dollar dam in disputed territory.


The funds come at a time of eased tensions between Pakistan and the U.S. — American and NATO supply routes to Afghanistan are open and Controversial U.S. drone strikes are down.


U.S.-Pakistani relations have weathered numerous crises in recent years, from a months-long legal battle over a CIA contractor who killed two Pakistanis, to the fallout from bin Laden’s killing in the Pakistani military town of Abbottabad in May 2011. The Pakistani government was outraged that it received no advance warning of the Navy SEAL raid on bin Laden’s compound.


Adding to the mistrust, the U.S. mistakenly killed two dozen Pakistani soldiers in November 2011. Islamabad responded by shutting land supply routes for troops in Afghanistan until it received a U.S. apology seven months later.


The countries say they’re now moving past the incidents that soured their partnership. During an August trip to Pakistan, Secretary of State John Kerry announced the restart of a high-level “strategic dialogue” with Pakistan on fighting terrorism, controlling borders and fostering investment.


Al Jazeera and wire services




Al Jazeera America



US to resume aid to Pakistan

Thursday, August 1, 2013

US, Pakistan to resume high-level negotiations








U.S. Secretary of State John Kerry meets staff members at the U.S. Embassy in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry meets staff members at the U.S. Embassy in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry, right, meets with Pakistan’s Prime Minister Nawaz Sharif in Islamabad, Pakistan Thursday, Aug. 1, 2013. Kerry was meeting Thursday with top Pakistani leaders, hoping the U.S. can open a new chapter in Washington’s often testy relationship with Islamabad. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry, left, meets with Sartaj Aziz, Pakistan’s special adviser on national security and foreign affairs, in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry, front left, meets staff members at the U.S. Embassy in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)













Buy AP Photo Reprints







(AP) — U.S. Secretary of State John Kerry and his Pakistani counterpart, Sartaj Aziz, said Thursday that the two countries will resume high-level negotiations over security issues.


Kerry also said he had invited Pakistan’s newly elected Prime Minister, Nawaz Sharif, to come to Washington to meet with President Barack Obama.


“I’m pleased to announce that today, very quickly, we were able to agree to a resumption of the strategic dialogue in order to foster a deeper, broader and more comprehensive partnership between our countries,” Kerry said at a press conference with Aziz in Islamabad.


He said the talks will cover “all of the key issues between us, from border management to counterterrorism to promoting U.S. private investment and to Pakistan’s own journey to economic revitalization.”


The U.S. and Pakistan launched high-level talks on a wide swath of security and development programs in 2010. But the talks stalled in November 2011 after U.S. airstrikes on a Pakistani post on the Afghan border accidentally killed 24 Pakistani soldiers. Even before that, the bilateral relationship was severely damaged by a variety of incidents, including a CIA contractor shooting to death two Pakistanis in the eastern city of Lahore and the covert U.S. raid that killed Osama bin Laden in Pakistani town of Abbottabad.


The resumption of the strategic dialogue indicates that the relationship between the two countries has improved since that low point. But there is still significant tension and mistrust between the two countries, especially regarding U.S. drone strikes and Pakistan’s alleged ties with Taliban militants using its territory to launch cross-border attacks against American troops in Afghanistan.


“It is also no secret that along this journey in the last few years we’ve experienced a few differences,” Kerry said. “I think we came here today, both the prime minister and myself, with a commitment that we cannot allow events that might divide us in a small way to distract from the common values and the common interests that unite us in big ways.”


Kerry was also asked about progress on a bilateral security agreement with Afghanistan that would keep some U.S. forces in that country after 2014.


“I am personally confident that we will have an agreement, and the agreement will be timely,” he replied. “And I am confident that the president has ample space here within which to make any decisions he wants to make regarding future troop levels.”


While this is Kerry’s first visit to Islamabad as secretary of state, he has a long history of dealing with Pakistan as former chairman of the Senate Foreign Relations Committee. Sharif described him as “a wonderful friend,” and Kerry said, “I have had the pleasure of visiting (Sharif’s) home and having a number of meals with him.”


Before heading into a closed-door meeting, Sharif asked Kerry about his wife, Teresa Heinz Kerry, who was hospitalized after a seizure last month.


“She’s doing better,” Kerry said.


Sharif came to power in an election that marked the first time in Pakistan that a civilian government completed its full five-year term and transferred power in democratic elections. The country has a history of civilian leaders being overthrown in military coups.


“This is a historic transition that just took place,” Kerry told U.S. Embassy employees. “Nobody should diminish it.”


Senior administration officials traveling with Kerry told reporters that while relations with Pakistan have grown touchy in recent years, there is the prospect of resetting those ties with Sharif’s government and working together on major issues — counterterrorism, energy, regional stability, economic reforms, trade and investment. The officials spoke on condition of anonymity because they weren’t authorized to publicly discuss Kerry’s agenda.


The U.S. wants to help strengthen the role of the civilian government in Pakistan, where the military long has been dominant, and wants Sharif to tackle rising extremist attacks inside his country.


The prison break this week that freed hundreds of inmates raises serious questions about Pakistan’s ability to battle an insurgency that has raged for years and killed tens of thousands. Suspected Islamic militants killed at least 160 people during the new government’s first month in office. Sharif’s government has not articulated an alternate strategy.


The U.S. also wants Pakistan to pressure leaders of the Afghan Taliban to negotiate with Afghan President Hamid Karzai’s government, renounce violence and sever ties with al-Qaida.


Officials in neighboring Afghanistan are demanding that Pakistan dismantle extremists’ havens inside Pakistan and push the Taliban to join the peace process. Both the U.S. and Afghanistan say that if attacks are allowed to continue, the region will never become stable. Pakistani officials say they do not control the Taliban, but Karzai’s government isn’t convinced.


Drone strikes are another point of contention.


Washington says it needs to attack dangerous militants with drones because Pakistan’s government refuses to engage them militarily. Pakistan contends the drone strikes are a fresh violation of its sovereignty, and they have increased widespread anti-American sentiment in the country.


The United States has reduced the number of drone attacks against militants in Pakistan and limited strikes to top targets. These moves appear to have appeased Pakistan’s generals for now, U.S. officials said. But some officials worry about pushback from the new civilian officials, including Sharif, who wants the attacks ended.


There have been 16 drone strikes in Pakistan this year, compared with a peak of 122 in 2010, 73 in 2011 and 48 in 2012, according to the New America Foundation, a U.S.-based think tank.


After Kerry wraps up his meetings in Islamabad, he is scheduled to fly to London. The State Department said he will meet there with United Arab Emirates Foreign Minister Abdullah bin Zayed Al-Nahyan to discuss Egypt, Syria and Middle East peace.


___


Associated Press writer Sebastian Abbot contributed to this report.


Associated Press




Top Headlines



US, Pakistan to resume high-level negotiations

US, Pakistan to resume high-level negotiations





U.S. Secretary of State John Kerry meets staff members at the U.S. Embassy in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry meets staff members at the U.S. Embassy in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry, right, meets with Pakistan’s Prime Minister Nawaz Sharif in Islamabad, Pakistan Thursday, Aug. 1, 2013. Kerry was meeting Thursday with top Pakistani leaders, hoping the U.S. can open a new chapter in Washington’s often testy relationship with Islamabad. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry, left, meets with Sartaj Aziz, Pakistan’s special adviser on national security and foreign affairs, in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





U.S. Secretary of State John Kerry, front left, meets staff members at the U.S. Embassy in Islamabad, Pakistan, Thursday, Aug. 1, 2013. The Obama administration hasn’t sent its top diplomat to Pakistan since 2011, and Kerry’s trip is a chance for the former senator to get to know the newly elected prime minister, Nawaz Sharif, who came to power in Pakistan’s first transition between civilian governments. (AP Photo/Jason Reed, Pool)





Top Headlines



US, Pakistan to resume high-level negotiations

Sunday, July 21, 2013

After 3 bodies found, Ohio police to resume search







Law enforcement and FBI stand at the back of a boarded-up home where bodies were found earlier in the day Saturday, July 20, 2013 in East Cleveland, Ohio. Police say three bodies have been found in plastic bags in East Cleveland. Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday _ one in a backyard and the other in the basement of a vacant house. (AP Photo/The Plain Dealer, Joshua Gunter) MANDATORY CREDIT; NO SALES





Law enforcement and FBI stand at the back of a boarded-up home where bodies were found earlier in the day Saturday, July 20, 2013 in East Cleveland, Ohio. Police say three bodies have been found in plastic bags in East Cleveland. Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday _ one in a backyard and the other in the basement of a vacant house. (AP Photo/The Plain Dealer, Joshua Gunter) MANDATORY CREDIT; NO SALES





A investigator looks through a boarded-up house on Shaw Ave. near the location where bodies were found earlier in the day Saturday, July 20, 2013 in East Cleveland, Ohio. The house is on the northwest corner of the intersection of Shaw Ave. and Hayden Ave. Police say three bodies have been found in plastic bags in East Cleveland. Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday _ one in a backyard and the other in the basement of a vacant house. (AP Photo/The Plain Dealer, Joshua Gunter) MANDATORY CREDIT; NO SALES













Buy AP Photo Reprints







(AP) — Police plan to continue a search Sunday for possibly more victims after three bodies were found wrapped in plastic bags in a Cleveland suburb.


The bodies, believed to be female, were found about 100 to 200 yards apart and a 35-year-old man was arrested and is a suspect in all three deaths, although he has not yet been charged, East Cleveland Mayor Gary Norton said Saturday.


The suspect is a registered sex offender and has served prison time, the mayor said. In police interviews, the man led them to believe he might have been influenced by convicted serial killer Anthony Sowell, Norton said in an interview with The Associated Press.


“He said some things that led us to believe that in some way, shape, or form, Sowell might be an influence,” the mayor said.


Sowell was found guilty in 2011 of killing 11 women and hiding their remains around his Cleveland home. He is in prison on a death sentence.


Asked if the suspect has a fascination with the Sowell case, the mayor said: “We believe so.”


Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday — one in a backyard and the other in the basement of a vacant house.


All three people are believed to have been killed in the last six to 10 days.


Police did not know the identities of the three victims. Norton said police believe the three were female, although the bodies had not yet been examined by the medical examiner.


Norton said the bodies were each in the fetal position, wrapped in several layers of trash bags. He said detectives continue to interview the suspect, who used his mother’s address in Cleveland, the mayor said, in registering as a sex offender.


Cardilli said the man was arrested after a standoff with police Friday. Police did not immediately release the suspect’s name. He was jailed in East Cleveland, the mayor said.


“The person in custody, some of the things he said to investigators made us go back today,” the mayor said.


Police searched vacant houses over about three blocks in the neighborhood Saturday and planned to expand their search Sunday, Norton said.


The police, FBI, the Ohio Bureau of Criminal Investigation and the Cuyahoga County Sheriff’s Department went through yards and abandoned houses and used dogs trained to find cadavers.


The neighborhood in East Cleveland, of some 17,000 residents, has many abandoned houses and authorities want to be thorough, the mayor said.


“Hopefully, we pray to God, this is it,” he said.


Associated Press




U.S. Headlines



After 3 bodies found, Ohio police to resume search

After 3 bodies found, Ohio police to resume search








Law enforcement and FBI stand at the back of a boarded-up home where bodies were found earlier in the day Saturday, July 20, 2013 in East Cleveland, Ohio. Police say three bodies have been found in plastic bags in East Cleveland. Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday _ one in a backyard and the other in the basement of a vacant house. (AP Photo/The Plain Dealer, Joshua Gunter) MANDATORY CREDIT; NO SALES





Law enforcement and FBI stand at the back of a boarded-up home where bodies were found earlier in the day Saturday, July 20, 2013 in East Cleveland, Ohio. Police say three bodies have been found in plastic bags in East Cleveland. Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday _ one in a backyard and the other in the basement of a vacant house. (AP Photo/The Plain Dealer, Joshua Gunter) MANDATORY CREDIT; NO SALES





A investigator looks through a boarded-up house on Shaw Ave. near the location where bodies were found earlier in the day Saturday, July 20, 2013 in East Cleveland, Ohio. The house is on the northwest corner of the intersection of Shaw Ave. and Hayden Ave. Police say three bodies have been found in plastic bags in East Cleveland. Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday _ one in a backyard and the other in the basement of a vacant house. (AP Photo/The Plain Dealer, Joshua Gunter) MANDATORY CREDIT; NO SALES













Buy AP Photo Reprints







EAST CLEVELAND, Ohio (AP) — Police plan to continue a search Sunday for possibly more victims after three bodies were found wrapped in plastic bags in a Cleveland suburb.


The bodies, believed to be female, were found about 100 to 200 yards apart and a 35-year-old man was arrested and is a suspect in all three deaths, although he has not yet been charged, East Cleveland Mayor Gary Norton said Saturday.


The suspect is a registered sex offender and has served prison time, the mayor said. In police interviews, the man led them to believe he might have been influenced by convicted serial killer Anthony Sowell, Norton said in an interview with The Associated Press.


“He said some things that led us to believe that in some way, shape, or form, Sowell might be an influence,” the mayor said.


Sowell was found guilty in 2011 of killing 11 women and hiding their remains around his Cleveland home. He is in prison on a death sentence.


Asked if the suspect has a fascination with the Sowell case, the mayor said: “We believe so.”


Police Commander Mike Cardilli said a woman’s body was found Friday in a garage and two other bodies were found Saturday — one in a backyard and the other in the basement of a vacant house.


All three people are believed to have been killed in the last six to 10 days.


Police did not know the identities of the three victims. Norton said police believe the three were female, although the bodies had not yet been examined by the medical examiner.


Norton said the bodies were each in the fetal position, wrapped in several layers of trash bags. He said detectives continue to interview the suspect, who used his mother’s address in Cleveland, the mayor said, in registering as a sex offender.


Cardilli said the man was arrested after a standoff with police Friday. Police did not immediately release the suspect’s name. He was jailed in East Cleveland, the mayor said.


“The person in custody, some of the things he said to investigators made us go back today,” the mayor said.


Police searched vacant houses over about three blocks in the neighborhood Saturday and planned to expand their search Sunday, Norton said.


The police, FBI, the Ohio Bureau of Criminal Investigation and the Cuyahoga County Sheriff’s Department went through yards and abandoned houses and used dogs trained to find cadavers.


The neighborhood in East Cleveland, of some 17,000 residents, has many abandoned houses and authorities want to be thorough, the mayor said.


“Hopefully, we pray to God, this is it,” he said.


Associated Press




Top Headlines



After 3 bodies found, Ohio police to resume search