Finance minister backs rescheduling of highway payment

Onions all set to hit 100/kg, traders importing cheaper variety from Pakistan & China

Chidambaram has said that only extremely “stressed” projects should get this “one-time exception” during the entire contract period. As deterrence to developers using this to their advantage to force negotiation, the FM has suggested there should be provision of a “penalty” on those seeking this relief. Premium is an annual upfront payment that the developers make to NHAI. In the last three years, NHAI has awarded 44 projects with premium totaling around Rs 3,750 crore. Work on only 13 of these projects has started, meaning NHAI has not yet started getting around Rs 3,000 crore promised annual premium.

Market Chatter-Corporate finance press digest

thats expanding in China, may sell shares in Hong Kong to fund its growth in the worlds second-largest economy. United Asia expanded lending on the mainland last year by more than 60 percent to more than 2 billion yuan ($327 million), compared with 10 percent growth in its Hong Kong loan book, which totaled HK$8.3 billion ($1.1 billion), Chief Executive Officer Akihiro Nagahara said in an interview on Aug. 9. The company has invested more than 4 billion yuan in its China operations. Listing will improve our transparency and help us get capital for expansion, Nagahara said.

United Asia Finance May Seek Hong Kong IPO If Valuations Improve

Rejecting that rationale, the BJP allegedly said the Finance Minister should furnish any clarifications on the Congress president’s behalf. Congress’s Manish Tiwari said they will not allow a discussion on Mr Vadra since there was “no question of having a discussion on a private individual in the House.” The Congress has also tried to shore up support from its allies to combat the onslaught. UP powerhouse Mayawati showed she is a reliable friend by carefully stating that while the Congress should answer the questions around Mr Vadra, his mother-in-law cannot be held responsible even if graft is proven. Mayawati’s BSP does not participate in the union government, but lends crucial external support along with Mulayam Singh Yadav and his Samjawadi Party. The scandal around Mr Vadra is centered on his land deals in Haryana, where the Congress has been in power since 2005.

Finance and Accounting Employee Confidence Index Soars in Q2 as Macroeconomic Confidence Improves

* Finnish stainless steelmaker Outokumpu is likely to get only 600-700 million euros ($800-$930 million) in the sale of its high-performance alloy unit VDM, less than initially planned, three people familiar with the deal told Reuters. * Beverage can maker Rexam has launched the sale of its healthcare packaging business, which could fetch around 650 million pounds ($1 billion), four banking sources told Reuters. * Russia’s top crude producer Rosneft will sign a broad oil and gas cooperation agreement with Azerbaijan on Tuesday, industry sources said, the first step towards increasing its presence in a country Europe hopes will meet its energy demands. * Retailer RadioShack is looking to refinance its debt by securing new, lower-cost loans, a process it would like to complete by the end of the year, according to two sources familiar with the matter * Italy’s M&G Chemicals is looking to raise about $500 million through a public floatation in Hong Kong in October, the Wall Street Journal reported on Tuesday, citing two people with direct knowledge of the deal. * Foxtons, the private equity-backed British estate agent, will file for an initial public offering as soon as August 27, the Financial Times reported on Tuesday, citing people familiar with the move.

Finance Minister should take tips from Robert Vadra: BJP’s attack in 10 points

Workers Ambivalent About Job Search Nearly four in ten (38%) finance and accounting workers say they are likely to look for a new job in the next 12 months, increasing just one percentage point from the previous quarter. More than half (56%) say they are not likely to job search, rising three percentage points from the previous quarter. To view the latest quarterly trends report, click here. Survey Methodology This survey was conducted online within the United States by Harris Interactive on behalf of The Mergis Group from April 1-3, May 7-9, and June 4-6, 2013, among 3,626 adults 18 and older, of which 173 are employed in finance and accounting. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Lesly.cardec@randstadusa.com .

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