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Canadian warplanes intercept Russian bombers
Bangladesh Sun
Saturday 31st July, 2010
(IANS)
Canadian warplanes intercepted two long-range Russian bombers that tried to intrude into Canadian airspace, the defence ministry confirmed Saturday.
The Tupolev-95 planes made several attempts to breach Canadian airspace Friday but were repelled by CF-18 jets, the ministry said.
Russian sources quoted in the Canadian media said the bombers were on a regular training flight and did not infringe Canada's airspace.
The incident occurred 500 km north of Goose Bay in the east of Labrador where the Canadian air force has a large base.
The Tupolev-95 bombers have a range of more than 14,000 km and are capable of carrying nuclear warheads.
The bombers have breached the airspace of Britain, Iceland, Japan, Canada and other countries in recent years.
Canada and Russia both claim a large chunk of the Arctic seabed believed to hold huge reserves of oil and gas.
Moscow has said in the past that it would not shy from using military force to defend its interests.
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| By Anonymous, 08-01-10, 05:26 AM |
Canadian warplanes intercept Russian bombersSHANGHAI - US private equity giant the Carlyle Group said on Friday it had received 2.4 billion yuan ($354 million) in commitments for its Beijing-based yuan-denominated fund, and would begin making investments in large growth companies.
Carlyle has set up a joint venture with Beijing State-owned Capital Operation and Management Center, the city’s biggest government-owned company, to help manage the Beijing RMB Fund, which aims to raise 5 billion yuan ($739 million), according to a statement.
Carlyle is committed to long-term, responsible and value-creating investment in China, David Rubenstein, co-founder and managing director of Carlyle said in the statement.
Carlyle to set up PE joint venture in Beijing Carlyle invests $20m in Chinese fashion brand Ellassay
Through this RMB fund, we will expand our investment capabilities and efforts in Beijing and across China to serve the growing number of Chinese investors.
Global buyout firms such as Carlyle and the Blackstone Group are racing to launch yuan-based funds in an effort to carry out deals more quickly and easily in China, where it is difficult to obtain approval for major foreign investments.
The Carlyle Beijing RMB Fund is now ready to invest, mainly in large-scale companies with high growth prospects, the company said, without identifying the industries it prefers.
THE WESTERN BANKERS' POWERFUL TENTACLE (CARLYLE GROUP) IS COMING TO CHINA AND BEIJING TO RESPECTIVELY FUND NATIONAL DIVISION, TO FUND ITS CORRUPTION FRONT (BEIJING STATE-OWNED CAPITAL OPERATION AND MANAGEMENT CENTER, THE CITY’S BIGGEST GOVERNMENT-OWNED COMPANY) BY PRETENDING TO ASK FOR HELP IN MANAGING ITS BEIJING RMB FUND, AND TO ROB STATE FUNDS AS WELL. |
| By Anonymous, 08-01-10, 05:37 AM |
Again another robbery of state funds.China to launch credit default swaps in H2
(Xinhua)
Updated: 2010-07-27 15:24
BEIJING - China will have its first credit default swap (CDS) products before the end of 2010, as regulators carefully review the credit derivative product.
We are now prudently facilitating the development of credit derivatives in China on the condition risk management is strengthened, Shi Wenchao, secretary general of the National Association of Financial Market Institutional Investors (NAFMII), told Xinhua.
In designing our own credit derivatives, we will start with the simple products. Then we will look at more complex ones, Shi said, adding that the institutional and supervisory frameworks are in place for CDS’s introduction.
CDS are a type of insurance policy against bond default. But they have been blamed for exacerbating the global financial crisis.
Compared with the lightly regulated and speculative international markets, one of China’s problems remains the lack of credit derivative products, said Gao Zhanjun, a senior trader at Beijing-based Citic Securities.
The absence of credit derivatives has restricted the development of China’s financial markets, Gao said Monday.
According to a NAFMII report released July 23, the CDS pilot project will be a type of credit risk mitigation (CRM) contract or obligation.
The NAFMII report said Chinese credit derivatives must follow the principles of simplicity and transparency and cater to the real economy. Leverage ratios, moreover, must be strictly controlled, the report added.
Currently, we don’t have any instrument to allow market participants to hedge their credit portfolios, which are worth hundreds of millions of yuan, Shi said, adding that such a situation adds to risk.
More than 780 billion yuan ($115 billion) of unsecured bonds were issued in China’s interbank market in the first half of 2010 and the value of such bonds already issued tops 3 trillion yuan. IN OTHER WORDS, 780 BILLION YUAN HAVE ALREADY BEEN STOLEN AND VERY LIKELY UNRECOVERABLE.
It’s time for us to set up a risk-sharing mechanism and to let that credit risk become liquid for risk mitigation purposes, Shi said.
Still, the credit derivatives market will be restricted and leverage levels will be capped as market participants will have to adhere to strict capital adequacy requirements, he added.
SAY NO TO THE CDS. THE ROBBERS ARE STEALING STATE FUNDS BY PRETENDING TO BUY THE JUNK BONDS GIVING RMB MONEY TO THEIR PARTNERS. AND NOW THEY WANT TO ROB MORE BY ASKING THE GOVERNMENT AND THE PUBLIC TO PAY FOR THE INSURANCE OF SOMETHING THAT IS WORTHLESS SO THAT THEY CAN GET MORE FREE STOLEN MONEY |
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