After wikileaks revealed derogatory remarks of OHB-Systems’ CEO, Berry Smutny, he has been suspended. OHB is a German company which specializes in space technology. In conversations with the American Ambassador Phillip Murphy, Smutny described the EU’s Galileo satellite navigation system as ‘nonsense’ and a ‘waste of taxpayer money.’ An OHB Spokesman explained that they needed…
Category Archives: Regional News
Big Changes On The Way
The French asset management industry is reorganizing quickly, as the main French investors are starting to develop their European track records. Although the market has no pension fund system, there are still numerous funds available. Institutional investors may have reserves for investing in small insurers, local banks, and in firms. These institutions invest in programs…
IBM’s Pension Fund Up
IBM’s Dutch Pension Fund has given its clients in certain benefit plans an index of approximately 2.8% A pension increase of 1.2% equals 75% of the consumer price index from September, 2009 to September, 2010. The extra 1.6% will compensate for the index payments that IBM did not pay during the above period.
Germany to Take Bigger Crisis Taxes on Banks
The 2008 financial crisis was, in part, caused by the banks and now the German government is demanding that the bank foot the bill. Germany will try to raise bank crisis tariffs over those originally planned. The original plan was that banks would have to pay a crisis tariff of 15% of annual profits. The…
Perceva Raises 150 Million Euro
Over 150 Million Euro have been raised by the acquisition company Perceva Capital. Perceva specialized in acquiring distressed companies. The funds were raised from over 12 institutional investors in France, Europe, Asia and the United States. The money will be invested in approximately 12 companies that are having financially or organizationally difficulties. Perceva’s president, Jean-Louis…
Fortis Sued For 2.5 Billion Dollar Fraud by Institutional Investors.
Institutional investors accuse Fortis NV of misrepresenting itself to shareholders and to the general market. Fortis Bank, presently renamed Ageas, was the biggest finance company in the Netherlands and in Belgium before it went under in 2008. It is accused of giving out false information about its financial condition, before it went under. Investors have…
Jammu & Kashmir Will Receive Aid From The Netherlands To Invest In Agriculture
The Jammu and Kashmir Government was given assurances that the Dutch government will give complete support to help develop the areas agriculture and related industries to help develop the state’s economic well-being. Jeroen Roodenburg, the Netherlands’’ assistant ambassador to India, met in New Delhi with Ghulam Hassan Mir, Jammu & Kashmir’s agriculture minister. Roodenberg reiterated…
European finance – Investments help troubleshoot your debt problems
Investment is one of the most popular debt solutions option. There are various investment vehicles in which you can invest your money and earn good profit. However, investments vary according to the place because of the diversifications. As per recent reports (of 2010), almost 60% investors in the global level have said that Europe is…
Sparkasse Aachen Leaves Moody’s
Moody’s has removed its credit rate of the Sparkasse Aachen Bank in Germany upon the bank’s request. The bank stated that it requested to be removed from Moody’s is based on business concerns. Moody’s said that the bank’s ratings were stable and that the bank had no debt outstanding. Sparkasse Aachen had a bank financial…
Fiat CEO Claims: We May Buy Over Half Of Chrysler This Year
A Fiat unit that produces construction and farming equipment is now trading independently from Fiat’s automotive unit on the Italian Stock exchange in Milan. In 2009, Fiat purchased 20 percent of Chrysler stocks. In return, Chrysler received and Fiat’s management expertise and small-car and clean-engine technology. With this purchase, Fiat is moving towards being a…
