Monthly Archives: August 2013

Dead man listed as pork beneficiary

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Projects of solon with bad attendance record questioned by COA audit By Carla P. GomezInquirer Visayas Rep. Julio “Jules” Ledesma IV BACOLOD CITY—A special audit of the Commission on Audit has uncovered what appears to be another scam that led to the theft of pork barrel funds, this time those of a legislator who has one of the worst attendance records in Congress. Part of the audit results showed that P10 million of pork barrel funds Read more [...]

‘Unprecedented Events’ Sparked Flash Freeze

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Nasdaq OMX Group (NDAQ) said a series of “unprecedented events” ignited the so-called Flash Freeze last week that caused a halt in Nasdaq-listed securities. The exchange operator said a slew of “technology events” caused a veritable perfect storm on August 22, forcing it to shut down trading on Nasdaq-listed financial products to stave off broader issues. The problems centered around the Securities Information Processor -- a system operated by Nasdaq that allows other exchanges Read more [...]

SC law school listed for sale on Craigslist

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Ever wanted to buy a law school? Well according to Craigslist, now might be the chance. The Charleston School of Law has been placed on the marketplace website, despite an announcement earlier this week that the for-profit South Carolina university is in negotiations to be taken over by education company InfiLaw System. “ONE (1) currently ABA Accredited Law School for sale. Great location, convenient to everything! Easy access to Crosstown, I-26, King Street bars and restaurants. Off-street Read more [...]

TIMELINE: Janet Napoles from scandal to surrender

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NAPOLES SURRENDERS. Mugshot of Janet Lim Napoles. Graphic by Emil Mercado MANILA, Philippines - The two week-long manhunt for fugitive and pork barrel queen Janet Lim Napoles came to a close when she surrendered to President Benigno Aquino III Wednesday night, August 28. The surrender came shortly after President Aquino announced a P10-million bounty for her arrest. Napoles was brought to Camp Crame, headquarters of the Philippine National Police. Her brother, Reynald “Jojo” Lim remains at large. The Read more [...]

India’s first UK-listed feeder fund likely by September

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The fund could raise $2-3 billion to begin with, said the second ministry official. India is eyeing several measures to boost long-term stable capital flows in to the country to finance its current account deficit that it hope to contain below $70 billion (3.7% of GDP) in 2013-14. The ministry feels this can help catalyze foreign capital flows into various infrastructure sectors projects that the government has been clearing in a bid to revive investments.Projects worth Rs 1.83 lakh crore were cleared Read more [...]

Echoing King’s call

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WASHINGTON Standing on hallowed ground of the civil rights movement, President Barack Obama challenged new generations Wednesday to seize the cause of racial equality and honor the “glorious patriots” who marched a half-century ago to the very steps from which the Rev. Martin Luther King Jr. spoke during the March on Washington. In a moment rich with history and symbolism, tens of thousands of Americans of all backgrounds and colors thronged to the National Mall Read more [...]

India’s first UK-listed feeder fund likely by September

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NEW DELHI: India could get its first London-listed dedicated feeder fund by September that would raise dollars from overseas investors and plough it into infrastructure debt funds (IDFs) in the country, said two finance ministry official familiar with the development. "There are foreign investors who are willing to put in long-term funds...The feeder fund is an attempt at luring them," said a finance ministry official. The fund could raise $2-3 billion to begin with, said the second ministry Read more [...]