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  • Accounting Standards: European Commission Adopts Changes To Mitigate Consequences Of Financial Turmoil

    Date 14/10/2008

    The European Commission has today adopted amendments to accounting standards, with the unanimous support of Member States. The changes to the accounting standards are intended to mitigate the consequences of the recent turbulence in financial markets. These amendments ensure that EU companies have the same flexibility as their American competitors to reclassify assets held-for-trading into the held-to-maturity category. The current financial crisis justi

  • J.P. Morgan Takes Equity Stake In Dubai Mercantile Exchange

    Date 14/10/2008

    The Dubai Mercantile Exchange Limited (DME) today announced that J.P. Morgan has taken an equity stake in the Exchange joining a number of other leading global financial institutions and energy trading firms, including Goldman Sachs, Morgan Stanley, Vitol, Concord Energy, Casa Energy Trading, and a Shell Group company, who were announced as strategic investors in the DME in early August.

  • Extension Of The Trial Listing Period For Central Japan Commodity Exchange Ferrous Scrap Futures Market

    Date 14/10/2008

    The trial listing period for the Ferrous Scrap market that expired on October 10, 2008 was extended for another year. As a result, the trading period of the Ferrous Scrap market is now amended to the four years from October 11, 2005 through October 10, 2009.

  • Statement By Shoichi Nakagawa, Japan's Minister Of Finance And Minister Of State For Financial Services

    Date 14/10/2008

    At the meeting of the G-7 Finance Ministers and the Central Banks Governors on October 10, we agreed to take decisive action and use all available tools for stabilizing the financial markets and adopted "Plan of Action" consisting of 5 items. At the meeting, I emphasized two major points. First, capital injection into financial institutions by utilizing public fund is the most important measure among the policy packages for avoiding the materialization of s

  • Rep Fossella To U.S. Treasury: Bold And Decisive Action Is Needed

    Date 13/10/2008

    Congressman Vito Fossella (R-NY13) today wrote a letter to US Treasury Secretary Henry Paulson calling for bold and decisive action to help our economy recover. The Congressman applauded Paulson for working together with the other G7 leaders in formulating an agreement on principles to help the world economy recover from the current financial crisis. He also shared his support for the plan Paulson announced Friday where the government will soon begin to purchase equity stakes in US banks, t