Kuwait forms cabinet with new oil, finance ministers

Fifth Street Finance Corp. Declares Monthly Dividends of 9.58 Cents Per Share

Shamali has been appointed oil minister in a new Kuwaiti cabinet line-up that was announced on August 4, 2013.AFP/File Next Slide Previous Slide KUWAIT CITY (AFP) Kuwait’s emir, Sheikh Sabah al-Ahmad Al-Sabah, named a cabinet on Sunday that, includes new oil, finance and defence ministers and seven members of the ruling Al-Sabah family. The appointment of the new 16-member line-up came after the Gulf state’s second parliamentary polls in eight months were again boycotted by the opposition. Former central bank governor, Sheikh Salem Abdulaziz Al-Sabah, who resigned last year in protest over a huge expansion in public spending, was appointed finance minister. In his resignation letter in February last year, Sheikh Salem complained that public spending had increased to unprecedented and unsustainable high levels, risking fiscal and monetary stability.

Obama to back mortgage finance reform to speed housing recovery

Terkper in office would definitely affect any consequent electoral fortunes of the ruling party. MAG can state categorically and without any bit of doubt that there is no way our party can chalk another success at the polls with Mr. Terkper as the Finance Minister because we do not understand why a finance minister would go to the extent of taxing vital commodities like condoms, fishing nets, cutlasses, outboard motors and what have you. Has he sat down for a minute to consider the political impact of such a reckless taxation? the angry MAG fumed.

‘Sack finance minister’

The following table reflects the per share dividends which the Board of Directors declared on August 5, 2013: Record Date Payment Date Amount ——————- ——————- ——- September 13, 2013 September 30, 2013 $0.0958 ——————- ——————- ——- October 15, 2013 October 31, 2013 $0.0958 ——————- ——————- ——- November 15, 2013 November 29, 2013 $0.0958 ——————- ——————- ——- Fifth Street’s amended dividend reinvestment plan (“DRIP”) provides for reinvestment of dividends, unless stockholders elect to receive cash. As a result, if Fifth Street’s Board of Directors declares a cash dividend, Fifth Street’s stockholders who have not “opted out” of Fifth Street’s DRIP will have their cash dividends automatically reinvested in additional shares of Fifth Street common stock, rather than receiving cash dividends. Fifth Street provides a 5% discount on newly-issued shares purchased through the DRIP (provided that shares are not issued at less than net asset value per share). If you are a Fifth Street stockholder and your shares of Fifth Street common stock are held through a brokerage firm or other financial intermediary and you wish to participate in the DRIP, please contact your broker or other financial intermediary. About Fifth Street Finance Corp.

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The president generally agrees with the bipartisan Senate proposal that would replace Fannie and Freddie with a system that would allow private firms to securitize mortgages, a senior administration official told reporters in a conference call. A government reinsurer of mortgage securities could backstop private capital in a crisis, the official said. Obama would want the Senate measure to go farther in helping first-time home buyers and in making sure affordable rental housing is available, the official added. The Senate bill, though, remains at odds with the bill advancing in the Republican-controlled House of Representatives that would liquidate Fannie Mae and Freddie Mac over five years and limit government loan guarantees.

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