The National Bank of Romania Need bridge bank option ....

The board of the Central Bank of Romania (BNR) has drafted an ordinance to set up a bridge bank, which could take over the administration of a bank that is in distress due to a sluggish economy or liquidity crisis. The bridge bank would ensure the continuity of the lender’s operations and address the credit institution’s core problems before marketing and selling it.

The draft emergency ordinance stipulates that the Bank Deposit Guarantee Fund (BDGF) be appointed as a delegated administrator and shareholder of distressed credit institutions, by increasing the institution’s share capital and buying the new shares issued by the BDGF.


When the bridge bank is created, the BDGF is the sole shareholder and carries out the tasks of the supervisory committee. The bridge bank can operate for up to two years from the moment it is established and ensures the prudent continuous provision of banking services related to assets and liabilities taken over in view of its subsequent sale to an eligible third party purchaser.



The ECB (European Central Bank), which was also consulted by the Romanian legislator, says that the existence of a bridge bank could be extended from two years, if the financial risk is still present and no purchaser is found for the credit institutions.


Radu Gratian Ghetea, president of the Romanian Banking Association (ARB), commented that the setting-up of a bridge bank was a normal move, creating the necessary framework in the event that a bank needs support. Ghetea added that credit institutions in Romania have dealt in a reasonable manner with the distortions of the current economic and financial crisis, proving the structural stability of the Romanian banking system.



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The Great India Awash In Goodwill Gestures.....

Overcoming the adversarial mindset on the other side of the "wall" is never easy. It not only takes time, it often involves a leap of faith. The Jackson-Vanik Amendment of 1974 lives on eternally despite the "non-existence" of the USSR and its restrictions on Jewish emigration; its repeal is solely now the function of politics in the United States - and not of Russian policy or politics.

The analogy helps comprehend to an extent the meaning of the decision Pakistan took last week to accord "most-favored nation" (MFN) status to India in trade relations. It took a decade-and-a-half for Pakistan to reciprocate India's own MFN decision of 1996.


The Pakistani government has shown statesmanship. But, curiously, it is also brilliant realpolitik.the decision hold much significance for regional security and stability. How did this happen?

If wishes had wings ...

Intrinsically, the blossom appears as a precocious, unseasonal flowering out of a mere sapling - the sapling of "dialogue" between the two countries, which is still tender and vulnerable to blight.

The dialogue process began originally under persistent United States prodding, but has since been struggling to come into its own although it survived the chill in the US-Pakistan relationship. In the US calculus originally, India-Pakistan normalization would go hand-in-hand with its overall regional AfPak strategy, thereby creating synergy. In the event, though, disequilibrium appeared with the virtual collapse of the US's AfPak strategy.

But Islamabad has taken a rational decision to keep appreciating India's "neutrality" vis-a-vis the US-Pakistan standoff. Thus, two weeks ago, when an Indian military helicopter with three senior army officers on board strayed in bad weather deep into Pakistani territory in the super-sensitive Siachen sector in Kashmir, general headquarters in Rawalpindi took the decision to allow the helicopter to return within a matter of hours - a rare gesture (for both sides) in the chronicle of their troubled relationship.

In political terms, though, Pakistan's statesmanlike approach puts pressure on India to reciprocate. India needs to come up with something "doable" like its MFN decision to take the normalization process forward.


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The Behavioral Change In The Oil And Gas Industry

Can behavioral science prevent a repeat of the tragic blowout and oil spill that killed 11 rig workers last year in the Gulf of Mexico? The question is one of many being weighed by Canada’s National Energy Board (NEB) as part of an ongoing review of the hazards, risks and mitigation measures associated with drilling offshore in the Canadian Arctic.

“Behavioral issues are important, because behavior turns systems and procedures into reality,” says a report submitted to the federal regulator under the title Changing Minds; A Practical Guide for Behavioral Change in the Oil and Gas Industry.


The prescription is not at all frivolous. In a separate report submitted to the NEB offshore review, Norwegian risk-management specialists Det Norske Veritas highlight the role “systemic organizational deficiencies” played in a series of fatal disasters, ranging from the Texas City refinery explosion in 2005 to the collapse of the Ocean Ranger drilling platform in the icy waters offshore Newfoundland and Labrador in 1982.


The document as the largest self-propelled, semi-submersible offshore drilling unit of its era, the Ocean Ranger, officially launched in 1976, began drilling in the vicinity of the Hibernia oil field on the Grand Banks in 1980. It was owned by Ocean Drilling and Exploration Co. (ODECO), which operated the rig on behalf of Mobil Oil Canada Ltd. None of the 84 crew survived after the rig capsized and sank in a storm on February 15, 1982.

Among deficiencies cited by the Royal Commission and recalled by Det Norske was a lack of adequate marine training for key personnel. Formal training policies at Ocean Drilling and Exploration Co. followed the industry pattern of learning the job “from the bottom up.” No specific training was provided for “abnormal conditions,” and Mobil’s contingency plans, although outlining emergency procedures in case of oil spills, iceberg encroachment, severe weather, loss of a supply vessel and even a helicopter crash, offered no clear procedures on how to evacuate the rig.

Policies that encouraged employees to learn by doing were “not supported by sufficient training measures which showed a lack of commitment to formally improve employees and overall company performance in the area of safety,”

But design shortcomings on the rig were compounded by human error, poor judgment and a lack of marine training, Det Norske says in its analysis. “In effect, the offshore drilling semi-submersible was regarded as an industrial operation in a marine setting with no marine training for its crew.”









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ET Solar Signs Strategic Alliance Agreement with CITIC Bank

ET Solar Group Corp. ("ET Solar"), a China-based vertically integrated producer and provider of Photovaltaic ("PV") modules and related solutions to the global solar market, today announces a strategic alliance agreement with China CITIC Bank, NanjingBranch ("CITIC").

Under the indicative agreement, CITIC will provide, in the next five years, a credit facility of no less thanRMB8 billion (or US$1.27 billion) to ET Solar for both general corporate and capital expenditure purposes. The agreement also covers various other commercial and investment banking services that CITIC will provide to ET Solar.

Mr. Dennis She, Chief Executive Officer of ET Solar, commented: "With credit support and other banking services that the bank provided to us in the past 3 years, ET Solar has established a strong tie with CITIC, a leading financial powerhouse in China and one of our house banks. This strategic agreement is taking our relationship to the next level and positioning us advantageously in capturing the overall market growth and accelerating our strong momentum in European system business development."

Mr. Shijing Jiao, President of China CITIC Bank Nanjing Branch, added: "The agreement demonstrates our conviction of the strong viability of ET Solar's downstream driven business model, our long term commitment to the PV industry, and the full fledged banking services that we are capable of providing to our core customers."


About ET Solar:

ET Solar is a China-based vertically integrated producer and provider of solar modules and related PV solutions to the global solar market. With local sales and marketing subsidiaries and offices in Asia,Europe, and North America, ET Solar has provided solar modules, turnkey solutions services and PV balance of system components to its customers in over 50 countries. To learn more about ET Solar.


About CITIC:

China CITIC Bank is one of China's top lenders in terms of total assets. Established in 1987 and subsequently listed on Hong Kong Stock Exchange, China CITIC Bank is a large commercial bank that provides both domestic and cross border financial services.



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The leaders struggle to respond to euro crisis

(AP) CANNES, France - World leaders' efforts to help Europe with its debt troubles have been paralyzed by uncertainty over Greece's political convulsions and doubts over whether Italy will enact economic reforms designed to save it from financial disaster.European leaders had meant to use the summit of the Group of 20 leading economies in Cannes, France to get foreign powers like China to help with the debt crisis that has rocked the eurozone for the past two years and threatens to push the world economy into a second recession.
But the foggy situation in Greece — where Prime Minister George Papandreou hopes the opposition will support an unpopular bailout deal — and a lack of details on the eurozone's tools to keep the debt crisis from spreading, meant all negotiations were put on hold. Europe was simply not ready yet.

Greek leader scraps risky bailout referendum
Sarkozy: Eurozone "explosion" unacceptable
"Robin Hood tax" gaining support at G20

"The first thing is for Europe to get its act together so we have a clear picture of what Europe is proposing," Mac Maharaj, spokesman for South African President Jacob Zuma, told The Associated Press. "We are very interested in a solution and we believe the solution is overdue."

Whether such a solution would be found in Cannes was questionable on Thursday.

One way some countries want to boost confidence is by boosting the resources of the International Monetary Fund.
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THE END A RUMOUR OR THE INEVITABLE???

Yaa what you heard is right….It seems that the World will end up on October 21st 2011...Not actually it will end up, but the end of the world will begin on Oct21st...Slowly and periodically the process may go. In order to spread these words outside the U.S, some mission groups are travelling through Africa and Latin America...They are using Billboards and bus stop benches to spread the news.

It was been said that some people after hearing this shocking news may think to enjoy their remaining life with drink and party. But not everyone is taking this as a serious issue, but some U.S people do...

As many past predictions were failed, some people are making it fun by saying that the news is simply a rumour.But who knows?? In this world of uncertainity, no one really knows what’s going to happen next. We never know when the world can get demolished or smashed completely. It may take just a fraction of second to happen. We can just hope that we have good times ahead because we even can’t predict our next second….Rite??

Be alert, hope for the best, Read More ….

http://weeklyworldnews.com/headlines/26946/end-of-world-may-21-2011/

Heavy Flood In Thailand Took Away The Lives Of 224 People...

There was an heavy and a severe monsoon flood in Thailand on October4th which killed around 224 people…One of the popular tourist destination, Chiang Mai and three quarters of the country were badly affected due to that...


As there was a warning from the forecasters that there is more wild weather in the upcoming days, many authorities tried and battled a lot to stop the floods going into the low lying areas. The government has announced the deployment of about 10,000 soldiers, and about 100 boats to help the victims.

The famous best known temple Wat Chaiwatthanaram has been closed. The head of the Fine Arts Office in Ayutthaya, Supoj Prommanoch, said that the water level reached 5 feet inside the temple premises. He also told that, ten other famous temples in the city were also flooded but still not closed as the authorities were very confident enough to prevent the water from reaching Ayutthaya's main World Heritage Park.

It was been said that these floods may last till the first week of November by the director of Thai Integrated Water Resource Management, Royal Chitradon.

Finally in a rough calculation it was found that, about 6 million hectares of land have been inundated around the country due to this worst flood in Thailand.

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http://news.yahoo.com/thailands-worst-floods-leave-224-dead-063119769.html