| Automatic Data Processing Board Approves Spin-off of Its Brokerage ...
ROSELAND, N.J.--(BUSINESS WIRE)--The Board of Directors of Automatic Data Processing, Inc. (NYSE:ADP) has approved today the proposed spin-off of its Brokerage Services Group business to ADP's shareholders. The spin-off will result in a separate publicly traded company that will be called Broadridge Financial Solutions, Inc. ("Broadridge"). To accomplish the spin-off, ADP's Board of Directors declared a dividend of one share of Broadridge common stock for every four shares of ADP common stock held by shareholders of record as of the close of business on March 23, 2007. The distribution is expected to occur as of the close of business on March 30, 2007, and is expected to qualify as a tax-free transaction. No fractional shares will be distributed. Shareholders who own fewer than four shares of ADP common stock (or who do not own multiples of four shares) will receive a taxable cash payment in lieu of the fractional share to which they would otherwise be entitled.
Volume of Loans Provided by Commercial Banks Totaled 2.859 b GEL ...
In February 2007, loans provided by commercial banks for economy equaled 2859.1 m. GEL, up 1005.3 m Gel, versus the same period in 2006. Loans provided in national currency were up 291.3 m. GEL to equal to 734.6 m. GEL, and loans denominated in foreign currency rose USD 467.9 m. to reach USD 1240.2 m. against the same period the same period in 2006. In February 28, 2007, annual rise of loans provided on economy equaled 54.2 percent versus the same period in 2006. During the reported period loans provided in national currency increased 65.7 percent. By March 1, 2007, the volume of loans denominated in GEL on resident legal entity totaled 4463 12 thousand GEL and in foreign currency it equaled 1523012 thousand GEL. Meanwhile credits extended on agriculture, forestry and fishing sector totaled 22217 thousand GEL, industry sector 405149 thousand GEL, construction 210576 thousand GEL, trade 900186 thousand GEL, transport and communication sector 40998 thousand GEL, education sector 5116 thousand GEL, health and social service 17798 thousand GEL and credit issued on restaurants and hotels totaled 41753 thousand GEL.
Deutsche Says Use Brazil Real Options in Narrow Trade (Update1)
April 3 (Bloomberg) -- The Brazilian real should withstand daily central bank dollar purchases and hold steady over the next month near a recent six-year high, according to Deutsche Bank AG, Germany's biggest bank. Deutsche advises investors to buy and sell options in a trade that will profit if the currency is little changed or trades within a narrow range. ``We believe the central bank will probably continue to increase the size of its interventions in order to maintain the currency near current levels,'' said Rogerio Oliveira, emerging markets strategist at Deutsche Bank in New York. The central bank has sought to restrain appreciation to aid export sales. The central bank has bought dollars daily in the currency market since July 3. The central bank's foreign reserves have nearly doubled to $110 billion, compared with $63 billion on July 3.
Read Government’s response to NDC’s press conference on Energy ...
It s true that the President said in his address, that Ghana will be benefiting from supplies from Nigeria and la Cote d'Ivoire to the tune of 200 MW within a fortnight. There was no falsehood, deception and diversion about that whatsoever. In other words, the President did not knowingly and wilfully give out information to Ghanaians that is not accurate.
The fact of the matter is that the President has indeed discussed the matter with his colleagues from the two countries and these understandings were reached. The 200 MW consisted of a supply of 120 Mw from la Cote d'Ivoire and 80 MW savings to be made from Nigerian supplies to Togo/Benin.
While Nigeria succeeded in delivering 80MW to Togo/Benin with difficulty, they could not give anything over and above that to Ghana.
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