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Banks could trade many swaps under new compromise

June 26, 2010 By vani Leave a Comment

(Reuters) – Banks would be allowed to trade in-house many types of over-the-counter derivatives under a new proposal designed to break an impasse in the U.S. Congress over financial regulation reform, Democratic Rep. Collin Peterson said on Friday.

Politics

Banks could trade foreign exchange and interest rate swaps in house, as well as gold and silver swaps, and derivatives designed to hedge their own risk, said Peterson, citing a compromise worked on by members of a House and Senate financial reform panel as well as Obama administration officials.

But banks would need to spin-off desks to affiliates to handle agricultural, energy and metals swaps, equity swaps, and uncleared credit default swaps, Peterson said.

(Reporting by Charles Abbott and Roberta Rampton)

Filed Under: International News Tagged With: administration officials, Agricultural Energy, banks, Charles Abbott, Collin Peterson, compromise, Congress, credit default swaps, democratic rep, derivatives, desks, Foreign Exchange, gold and silver, impasse, Interest Rate Swaps, metals, proposal, reuters, Roberta Rampton, senate

Banks could trade many swaps under new compromise

June 26, 2010 By vani Leave a Comment

June 25 (Reuters) – Banks would be allowed to trade in-house many types of over-the-counter derivatives under a new proposal designed to break an impasse in the U.S. Congress over financial regulation reform, Democratic Rep. Collin Peterson said on Friday.

Stocks | Bonds | Global Markets | Funds News | ETFs News

But banks would need to spin-off desks to affiliates to handle agricultural, energy and metals swaps, equity swaps, and uncleared credit default swaps, Peterson said. (Reporting by Charles Abbott and Roberta Rampton)

Filed Under: International News Tagged With: administration officials, Agricultural Energy, banks, Charles Abbott, Collin Peterson, compromise, credit default swaps, democratic rep, derivatives, desks, Foreign Exchange, global markets, gold and silver, impasse, Interest Rate Swaps, metals, reuters, Roberta Rampton, senate, Stocks Bonds

Thai minister says no talks until anti-govt rally ends

May 18, 2010 By vani Leave a Comment

Thailand’s government will only enter into talks brokered by the country’s Senate if anti-government protesters end their rally, a cabinet minister said on Tuesday.

“The situation has escalated and become violent with armed groups and terrorists attacking the government, officers in the field and civilians,” Satit Wongnongtoey said in a televised address.

“The government says we can only negotiate when the protest ends,” he said.

(Reporting by Ambika Ahuja; Writing by Nopporn Wong-Anan. Editing by Jason Szep)

Filed Under: International News Tagged With: address, Anan, cabinet minister, civilians, government officers, Jason Szep, protest, protesters, rally, senate, terrorists, Thai Minister, thailand government

Thai government says has no position on peace talks

May 18, 2010 By vani Leave a Comment

The Thai government is aware of an offer on Tuesday by a group of senators to broker talks with thousands of protesters but has no official position on whether to accept it, a government spokesman said.

“We have no position on that yet. The prime minister has been informed but does not have an immediate position on it,” said government spokesman Panitan Wattanayagorn.

“Our top priority right now is to end the rioting that traps civilians in the area. But we are not rejecting or accepting the senators’ offer yet.”

A leader of “red shirt” anti-government protesters said on Tuesday they had agreed to participate in talks brokered by the speaker of the Senate in order to prevent further casualties.

At least 38 people have died in the latest flare-up in violence in Bangkok since May 13.

(Reporting by Ambika Ahuja; Editing by Jason Szep)

Filed Under: International News Tagged With: Bangkok, casualties, civilians, flare, government spokesman, Jason Szep, peace talks, Prime Minister, protesters, senate, senators, thai government, top priority, traps, Violence

Joyce to meet Riverland irrigator groups

April 21, 2010 By vani Leave a Comment

The Nationals’ leader in the Senate and Federal Opposition water spokesman, Barnaby Joyce, is in the Riverland this week, after taking over the portfolio last month.

He says he will spend about three days meeting irrigator groups and key stakeholders in the region to gain an understanding of the issues facing the Riverland.

Senator Joyce, who hails from Saint George in southern Queensland, says he wants to broaden his knowledge about issues in communities around the Murray-Darling Basin.

“Obviously I live on the river in St George and it’s extremely important that we have an understanding of all the river and all it’s components from Toowoomba down to the mouth of the Murray, because that is our own peculiar little state, our state that goes across state boundaries, we are all connected by the Murray-Darling Basin,” he said.

Filed Under: International News Tagged With: Barnaby Joyce, Federal Opposition, groups, knowledge, Murray Darling Basin, nationals, senate, southern Queensland, spokesman, St George, stakeholders, State Boundaries

Doubts over Harkins’ Senate bid

April 10, 2010 By vani Leave a Comment

The Labor Party’s National Executive is today expected to overturn the Senate preselection of a controversial union leader.

The Prime Minister, Kevin Rudd, last year said Tasmanian Electrical Trades Union boss Kevin Harkins had no chance of winning party preselection.

The Tasmanian branch of the party this week placed Mr Harkins in the safe second spot on the Senate ticket for this year’s election.

The ABC understands the party’s factional leaders last night decided to support the Prime Minister’s position and block Mr Harkins’ bid for the Senate.

Filed Under: International News Tagged With: abc, bid, doubts, Electrical Trades Union, Factional Leaders, federal parliament, harkins, hobart, labor-party, national executive, Preselection, Prime Minister, senate, TAS, Tasmanian Branch, Union Boss, Union Leader

Commonwealth says aaahhh

March 31, 2010 By vani Leave a Comment

The federal member for Page says a new dental school planned for Ballina will help to reduce the waiting list for public dental care in the region.

The Commonwealth has pledged almost three quarters of a million dollars to the facility, which will provide four training clinics for students from the University of Sydney.

Janelle Saffin says that’s good news for those who may not be able to afford regular dental care.

“It will certainly help them because the students who come and do the training are final-year student, plus it’s at the Ballina Dental Clinic which is in the hospital where we already have dentists and dental therapists and people can get treatment,” Ms Saffin said.

“The Government’s trying to reintroduce (the) Commonwealth Dental Scheme which was axed in 1997,” she said.

“That created a huge waiting list of people waiting to get dental treatment, a lot in our area, that’s stuck in the Senate, blocked by the Coalition,” Ms Saffin said.

“This will help a little bit but we need to have the Coalition unblock that legislation,” she said.

Filed Under: International News Tagged With: ballina-2478, commonwealth, dental, Dental Care, Dental Clinic, dental school, Dental Therapists, Dental Treatment, dentists, Federal Member, Janelle, legislation, little bit, lot, million dollars, people, Saffin, School Help, senate, three quarters, university of sydney, waiting list

Unionist seeks preselection despite PM’s rejection

March 30, 2010 By vani Leave a Comment

A Tasmanian unionist is planning to run for the Senate, despite being rejected by the Prime Minister at the last federal election.

Kevin Harkins of the Electrical Trades Union withdrew as Labor’s candidate for the lower house seat of Franklin, amid accusations of heavy-handed union tactics.

The Prime Minister, Kevin Rudd, said at the time there was “Buckley’s chance” of Mr Harkins becoming a Labor Senator, calling him a “pugilist”.

Mr Harkins is now seeking Senate pre-selection, but will not say whether he has received Mr Rudd’s blessing.

“I think those words were nothing more than a misunderstanding, and they should be placed into that basket,” he said.

“I think we’ve all moved on since those things happened.

“Maybe it was a mistaken identity, or something like that. I don’t really know. You would have to ask the Prime Minister about that.”

A spokesman for the Prime Minister says Mr Rudd has been open about his personal views but pre-selection is a matter for the Tasmanian ALP.

The party’s State Secretary, John Dowling, has declined to be interviewed.

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NBN roll-out slammed over power lines

March 25, 2010 By vani Leave a Comment

The roll-out of the Federal Government’s national broadband network (NBN) in Tasmania has been criticised for its heavy reliance on overhead power lines.

The NBN company says about 70 per cent of homes in the first three Tasmanian towns to form the network will be connected by overhead power lines.

The Federal Government and Telstra are still trying to strike a deal on rental charges for underground tunnels and ducts.

Federal Greens Senator Scott Ludlam says using overhead power lines is more expensive and less reliable than underground installation.

“The information that we’ve received in Senate inquiries is that in the short-term, it’s cheaper to hang the cables overhead, but in the long-term, it can be much more costly and it can mean that the infrastructure is less reliable,” he said.

“I think we will be better off doing this in a much more measured way in which the infrastructure is buried.”

Filed Under: International News Tagged With: Australia, cables, federal government, Greens, Infrastructure, inquiries, internet, ludlam, national broadband network, Nbn, Overhead Power Lines, Reliance, Rental Charges, senate, senator scott, TAS, tasmania, Tasmanian Towns, telstra, Underground Installation, Underground Tunnels

Fears over broadband on power lines

March 25, 2010 By vani Leave a Comment

The roll-out of the Federal Government’s national broadband network in Tasmania has been criticised for its heavy reliance on overhead power lines.

The NBN company says about 70 per cent of homes in the first three Tasmanian towns to join the network will be connected by overhead power lines.

The Federal Government and Telstra are still trying to strike a deal on renting underground tunnels and ducts.

Greens Senator Scott Ludlam says using overhead powerlines is more expensive and less reliable than underground installation.

“The information that we’ve received in Senate inquiries is that in the short-term it’s cheaper to hang the cables over-head but in the long-term it can be much more costly and it can mean that the infrastructure is less reliable,” he said.

“I think we will be better off doing this in a much more measured way in which the infrastructure is buried.”

Filed Under: International News Tagged With: cables, fears, federal government, Greens, hobart-7000, information-and-communication, Infrastructure, inquiries, internet, launceston-7250, ludlam, national broadband network, Nbn, Overhead Power Lines, Overhead Powerlines, Reliance, Renting, senate, senator scott, TAS, tasmania, Tasmanian Towns, telstra, Underground Installation, Underground Tunnels

‘Undeniable’ evidence regarding India’s involvement in Baloch insurgency: Malik

March 23, 2010 By vani Leave a Comment

Islamabad, Mar.23 (ANI): Pakistan Interior Minister Rehman Malik has once again blamed India for fanning insurgency in Balochistan, saying the federal government has ‘undeniable’ evidence that New Delhi was involved in nefarious activities in the region bordering Afghanistan.

Addressing the Senate, Malik said he would disclose the details regarding India’s involvement to parliamentarians during an in-camera meeting and said militants were being provided arms and financial support from foreign countries.

Commenting on the issue of hundreds of missing Baloch people, Malik claimed that the list of missing persons has many ‘dubious names’, including some people who were in Afghanistan to receive militant training and others who were involved in anti-Pakistan activities in Dubai.

“It was reported that some Baloch people had gone missing, but it was found later that those people had crossed the border or got visas of some other country to get militant training,” The Daily Times quoted Malik, as saying.

However, Malik’s claims were confronted by senators from Balochistan, who said that the government needed to take up the province’s issues in detail instead of blaming India each time. (ANI)

Filed Under: International News Tagged With: Afghanistan, Baloch People, balochistan, Dubai., federal government, foreign countries, India, interior minister, list of missing persons, missing people, nefarious activities, New Delhi, Pakistan, Parliamentarians, rehman malik, senate, senators, Undeniable Evidence

‘Undeniable’ evidence regarding India’s involvement in Baloch insurgency: Malik

March 23, 2010 By vani Leave a Comment

However, Malik’s claims were confronted by senators from Balochistan, who said that the government needed to take up the province’s issues in detail instead of blaming India each time. (ANI)

Senate rejects motion on political advertising

March 19, 2010 By vani Leave a Comment

The Greens have failed in their bid for the Senate to push for a new political advertising regulator.

The Greens leader Bob Brown tried to move a motion calling on the Government to set up a “Truth in Political Advertising Unit” before the next federal election.

Senator Brown criticised the Government and Opposition for not supporting the bid to amend the Commonwealth Electoral Act.

“When you vote down motions [on this topic] you are manifestly supporting lying, fraudulent behaviour and corruption of the political process. You cannot have it both ways,” he said.

“These are strong words but they need to be issued and the challenge needs to be issued in this Parliament.

“It is disgraceful behaviour by the big parties.”

Filed Under: International News Tagged With: bid, Bob Brown, commonwealth, corruption, Electoral Act, Federal Election, Greens, Leader Bob, motions, opposition, parliament, Political Advertising, senate, Senator Brown, truth, vote

Group attacks ‘discriminatory’ Youth Allowance changes

March 19, 2010 By vani Leave a Comment

Central Victorians have been excluded from a compromise deal to allow some regional students to qualify for Youth Allowance under the old system.

The Senate has passed the Federal Government’s changes which will allow rural and outer regional students to receive the student income support under the old criteria.

But central Victorians, including students from Bendigo, Rushworth, Rochester and Echuca, will have to meet the new tougher rules to get the payment.

Brigid Evans from the Bendigo Youth Allowance Action Group says the new system discriminates against many country students, who will now face tougher barriers to access assistance.

“I think it is still quite discriminatory against regional students,” she said.

“We’ve been lumped in the same category as city students but we don’t have access to nearly as much as they do.”

Filed Under: International News Tagged With: Allowance Changes, bendigo-3550, City Students, community-and-society, Compromise Deal, Country Students, Echuca, echuca-3564, Education, federal government, programs-and-initiatives, regional students, rochester-3561, rural, rushworth-3612, senate, university-and-further-education, Victorians, welfare, Youth Allowance, Youth Group, youth-issues

Rural students escape Youth Allowance changes

March 17, 2010 By vani Leave a Comment

The Federal Government has agreed to make rural students exempt from changes to its overhaul of the Youth Allowance system in order to win Opposition support.

The Government’s proposed changes to student support payments have been stuck in a Senate stalemate for months.

The Government wanted to tighten the eligibility criteria for students receiving the payments, but Deputy Prime Minister Julia Gillard has agreed to some of the Opposition’s demands.

Students from outer regional and remote areas will be able to qualify for Youth Allowance under the existing criteria so long as their parents earn less than $150,000.

The Government will fund the changes by reducing the annual student start-up scholarships by $126.

Opposition education spokesman Christopher Pyne says he would have liked the Government to go further.

“We believe the inner regional young people should have the same tests applied to them as rural and remote young people,” he said.

Carla Drakeford from the National Union of Students says the compromise deal is a big win for rural students.

“We are obviously very happy that it will be passed this week because it is the deadline essentially,” she said.

“If it was passed any later, students would not be receiving scholarships, so we’re happy that the stage has finally ended.”

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Govt asked to explain parental leave delay

March 16, 2010 By vani Leave a Comment

The Federal Opposition has questioned if the Government is serious about its paid parental leave scheme when it has not yet introduced a bill to implement it.

The Government promised in last May’s budget that it would set up a scheme from next January for 18 weeks leave at the minimum wage, but is still drafting it.

The Opposition last week promised a 26-week scheme at full pay if elected.

Its spokeswoman on the status of women, Sharman Stone, says the Government should explain the delay.

“They’re caught short,” Dr Stone said.

“They have no timetabling for the introduction of their paid parental leave scheme. It’s a very simple – and I would add – simplistic scheme.

“It’s not rocket science to put that into legislation, so you have to wonder why has it been absolutely out of sight and out of mind for Labor until we put our superior scheme on the table.

“There’s a long winter recess on its way. We seem to have the schedule for legislation between now and that recess quite full, so I think this has been another blunder on the part of Labor.

“It’s a bit of an example of how they treat the whole issue.”

The Government wants the legislation passed by the middle of the year, even though there are only 10 Senate sitting days scheduled before Parliament’s winter recess.

Families Minister Jenny Macklin says the delay has been caused by consultations with business.

She says the legislation will be introduced soon.

“There’s been a lot of detailed issues that needed to be worked through that’s been done in a very systematic way and a thoughtful way,” Ms Macklin said.

“The Labor Government wants to do this properly. We, unlike the Liberal Party, want to make sure we get this right.

“The legislation will be concluded shortly and I hope the Senate will support it given the extensive work that’s gone into its development.

“We’ll be delivering it as soon as possible. It’s being drafted right now.”

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Ex Labor man to run against Snowdon in bush seat

March 15, 2010 By vani Leave a Comment

A former Labor Party candidate is the front runner to be the Country Liberals choice to run against Warren Snowdon in the federal seat of Lingiari.

Wayne Connop was the unsuccessful Labor candidate for the Territory seat of Nelson in the 1994 and 1997 Territory elections.

He was second on the Federal Labor Senate ticket in 2004 and was one of the Labor nominees for pre-selection in Solomon for the 2007 election.

Then the TAFE teacher and licensed plumber defected to the CLP and unsuccessfully ran against Rob Knight for the seat of Daly at the 2008 Territory election.

Connop will have an extremely tough task unseating Warren Snowdon in Lingiari this year.

The incumbent increased his majority at the last three federal elections winning 61 per cent of the vote in 2007.

The final preselection is on Monday.

Filed Under: International News Tagged With: alice-springs-0870, Australia, bush, Clp, elections, federal elections, Federal Seat, Incumbent, Labor Man, liberals, Licensed Plumber, nt, party candidate, Pre Selection, Preselection, senate, snowdon, Solomon, states-and-territories, Tafe Teacher, Territory Elections, vote

Dentists ‘exploiting’ Medicare scheme

March 15, 2010 By vani Leave a Comment

Dental health experts say the Federal Government has failed to stop dentists from rorting the Medicare dental scheme.

The Senate has twice blocked the Government’s attempts to replace the scheme with a cheaper, more targeted plan.

Associate Professor Hans Zoellner, from the Association for the Promotion of Dental Health, says the Government should retain the scheme and administer it responsibly.

“A handful of dentists have been exploiting the scheme and overservicing patients and giving too much crown and bridge,” he said.

“There’s an unnecessarily great expense, a significant amount which is probably not required and just purely cosmetic.

“The Government really has an important role to regulate the scheme but instead of regulating dental Menticare, the Government has simply refused to even look at it.”

But Federal Health Minister Nicola Roxon says the program was poorly designed by the previous Government.

“It has lent itself to be able to be abused, it’s clear when there is an undersupply of dental services in the community and when dental care is expensive that any program would provide some relief,” she said.

“But we believe it would be much better targeted to those who have the most need.”

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‘Hillary loves being Secretary of State,’ says her spokesman

September 12, 2009 By admin Leave a Comment

New York, Sep 10(ANI): US Secretary of State Hillary Clinton’s spokesman, Philippe Reines, has quashede reports that she might depart prematurely from President Barack Obama’s Cabinet to reclaim her US Senate seat.

“It seems that whoever was peddling lies about imminent weddings is now doing the same about jobs. So, let me be Shermanesquely clear: She loves being Secretary of State and isn’t running for anything. period,” The New York Post quoted Reines, as saying.

A Democrat had pointed out: “President Obama’s picks fly in even if they didn’t pay their taxes. But, her picks take forever. Plus, she has no real clout over Holbrooke or Mitchell.”

It was also reported that Clinton was considering quitting her job to retake her old US Senate seat from New York, which is currently held by Kristin Gillibrand. (ANI)

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Chidambaram discusses counter-terrorism, 26/11 update with US officials

September 10, 2009 By admin Leave a Comment

Washington, Sept 10 (ANI): Indian Home Minister P. Chidambaram held meetings here with senior Obama administration officials, including National Security Advisor Lt. Gen. (retired) James Jones, Homeland Security Secretary Janet Napolitano and the U.S. Attorney General Eric H Holder Jr. on Wednesday.

Enhanced co-operation between India and US on tackling terrorism particularly in South Asia dominated the discussions, sources said.

Pakistan’s inaction in dealing with the perpetrators of 26/11 was also raised.

Chidambaram also met Senator Dianne Feinstein, the Chairwoman of Senate Select Committee on Intelligence.

Chidambaram is scheduled to meet the Secretary of State Hillary Clinton on Thursday.

On Tuesday, officials from FBI, intelligence and security agencies and the New York Police briefed Chidambaram about the measures being taken by them to prevent a Mumbai-type terrorist attack.

From walking at the Penn Station, to a briefing by the New York Police, which had made several changes in its counter-terrorism measures post the 26/11 attacks, Chidambaram and his team of officials got to know what a mega city like New York can do to protect itself from terrorists without inconveniencing its residents.

Chidambaram was also informed about the coast guard facility at Staten Island. It was an important aspect of his trip given that the terrorists who attacked Mumbai on November 26 last year entered Mumbai through the sea route.

Within hours of his landing in New York, Chidambaram visited the Joint Terror Task Force Centre of the FBI where he was given an exclusive briefing by the New York Police Department.

Before leaving New York City for Washington by train, Chidambaram was briefed about security of the Mass Transport System at the Penn station.

The Home Minister is also scheduled to meet the top US intelligence and security officials, including FBI Director Robert Mueller and Director of National Intelligence Dennis C Blair; besides meeting National Security Adviser, Gen (Retd) James Jones at the White House. A tour of the National Counter-terrorism Centre in Virginia is also on his itinerary.

Besides meeting experts and think-tanks” members, Chidambaram is expected to hold talks with key US lawmakers, including Senator Joe Lieberman, Chairman, Senate Homeland Security and Governmental Affairs Committee; and Congressman Sylvester Reyes, Chairman, House Select Committee on Intelligence. (ANI)

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Banks could trade many swaps under new compromise

Banks could trade many swaps under new compromise

Thai minister says no talks until anti-govt rally ends

Thai government says has no position on peace talks

Joyce to meet Riverland irrigator groups

Doubts over Harkins’ Senate bid

Commonwealth says aaahhh

Unionist seeks preselection despite PM’s rejection

NBN roll-out slammed over power lines

Fears over broadband on power lines

Senate rejects motion on political advertising

Group attacks ‘discriminatory’ Youth Allowance changes

Rural students escape Youth Allowance changes

Govt asked to explain parental leave delay

Ex Labor man to run against Snowdon in bush seat

Dentists ‘exploiting’ Medicare scheme

‘Hillary loves being Secretary of State,’ says her spokesman

Chidambaram discusses counter-terrorism, 26/11 update with US officials

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