Economy and Business Info

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Central Securities Depository, Inc. (DCV) of Chile and the Depository Trust and Clearing (DTCC, for its acronym in English) U.S. today announced they have signed an agreement that recognizes and strengthens their relationship and will provide the foundation for future collaboration.

“We are delighted to have this opportunity to bring a new level the relationship with the central securities depository of Chile, and to working with our Chilean colleagues in addressing the needs of their markets and customer support”

The objective of this collaborative venture, which will leverage technology and expertise of both organizations is to expand offerings and capabilities of DCV and DTCC. This will allow both organizations to leverage local market knowledge and develop broader offerings in Chile and throughout Latin America, at the same time reducing risks and lowering costs.

“Chile has one of the strongest economies in Latin America and represents a strong financial market and growth in the Americas,” said William B. Amity, president and chief operating officer of DTCC. “We are delighted to have this opportunity to bring a new level the relationship with the central securities depository of Chile, and to working with our Chilean colleagues in addressing the needs of their markets and support their customers.”

“We believe that this working relationship will give DCV some strategic advantages in fulfilling our mission to make the Chilean capital markets more efficient and attractive to capital market growth,” said Fernando Yates, Director General of DCV. “We expect to benefit from the experience, technology, scale and global reach of DTCC to assist in the growth of services for capital markets in Latin America.”

Previous discussions identified some possible areas of collaboration related to operational risk and business continuity. For example, CSD currently has data centers in different parts of Santiago, the capital and largest city in Chile. However, communications with backup sites located 500 kilometers from the city of Conception were destroyed and were deactivated during the earthquake of February 2010. DTCC DCV and believe there may be an opportunity to collaborate on issues of business community, leveraging of DTCC experience after 9 / 11 is the creation of redundant backup data centers.

The agreement announced today was developed after an invitation in December 2009 by the CSD to DTCC to make a capital investment of 10% and unify DCV Directory. By making this investment and join the Board of DCV, DTCC has demonstrated its commitment to the region and their high expectations for future cooperative efforts with DCV

Zero coma was established in 2005 to design, develop and market document management solutions among which the main one is EdasFacturas, which seeks the issuance, receipt and invoice management under the tax law which makes it obligatory to issue an electronic invoice (Law 30/2007 of 30 October and the Presidential Order 2971/2007 of 5 October) and the possibility of keeping paper invoices received in electronic format allowing, thus, the destruction of the paper.

This legislation was contained in RD 1496/2003 of 28 November and was subsequently developed in the EHA Order 962/2007 of 10 April, after which published the Resolution of October 24 defining the requirements needed to fulfill for approval certified scanning software for invoices were scanned tax value.

Zero comas was recognized and included in the website of the AEAT, a manufacturer of electronic invoicing solutions in 2007 and subsequently obtained the approval EdasFacturas the AEAT and the four Provincial Council of Alva, Guipúzcoa, Viscera and Navarre for digitization certified.

The chair of the organizing committee of the First International Conference on Leadership and Management, Orderable Semen, reported that everything is ready for an event that seeks to train and upgrade human resources in the various sectors of the region. Executives, entrepreneurs, managers, HR professionals, Systems and Marketing, consultants and general practitioners will have the opportunity to participate in this activity, which was first held in Ciudad Guyana. According Terrible said this is a business education event, managerial and professional looking institutionalized each year to promote the city and in general the state as space maker for the analysis, debate and presentation of issues pertaining to future development. “We must go hand in hand with advances in technology, because if we fall behind.

We consider it very timely implementation of this conference, so we are doing this every year, this is the business sector’s contribution to the region,” said. Congress is divided into four main areas: People, Technology, Organization and Marketing, all related to the subject of Management. Other guests include speakers from Brazil, Peru, Ecuador, Colombia, Argentina, Dominican Republic and the United States. Although it was estimated the participation of about 500 people, the employer reported that expectations have been exceeded and expect between 800 and 100 attendees during the two day event, whose investment is close to a million Bolivar’s.

Companies participating in this International Congress of Leadership and Management have the opportunity to present it as investment project for compliance with the Law on Science, Technology and Innovation (Loci). In addition to the conference will also feature an exhibition of stands by some companies as Resort Mining, Microsoft, HP and Renovo, so that it can produce an interesting trade, industrial and technological development. The tickets are on sale at the headquarters of FEDECAMARAS Bolivar Royal Tower. Floor 2 office 1-B, with special prices for students and academics. The investment includes snacks, support materials and attendance certificate.

Cava de Burgos was now “fully satisfied” with the authorization of the Government of Castile and Leon Civic joining Bank and said that this decision “represents a major milestone in shaping the Group and facilitates the cruising speed it wants to acquire for its implementation on 1 July. “

The Ministry of Economy and Employment announced this afternoon at Burgos entity authorized to accede to the Institutional Protection System (SIP) which is part of the integration of the Group that conform Cava de Burgos, Cava Navarre and Cava Canaries.

This communication also states the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and Spanish monetary authority, as the Ministry of Economy and Finance, said in a statement picked up by Europe Regional Government Press.

The authorization also involves compliance with all terms of the contract establishing the SIP. Cava de Burgos must submit periodic information for follow-up, the Ministry of Economy and Employment.

According to Europe Press reported Civic Banking sources, the Ministry of Finance also announced today the signing of the Ministerial Order authorizing the Group to operate, once it received a favorable report by the General Directorate of Treasury and Bank of Spain.

“In front are the relevant entries and other administrative processes to see Civic Banking SIP as the first bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future, “sources said

Civic Banking Group continues moving towards the beginning of its financial operations on 1 July. This afternoon, has announced the approval by the Junta de Castillo y Leon Cava de Burgos for joining the project of integration of the Civic Banking Group. In his note, the Ministry of Economy and Employment of the Junta de Castillo y Leon also stipulates the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and the Spanish monetary authority and the Ministry of Economy and Finance.

It has been precisely the Ministry of Finance who is also the group announced today the signing of the Ministerial Order authorizing the Civic Banking Group to operate, once it received a favorable report by the General Directorate of Treasury and the Bank Spain.

Ahead are the relevant entries and other administrative processes to see the Civic Banking Group as the first SIP bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future?

Satisfaction. Cava de Burgos is shown fully satisfied with the decision taken by the Ministry of Economy and Employment of the Junta de Castillo y Leon, valuing hard work in recent months by the latter. For Burgos entity represents a major milestone in shaping the Civic Banking Group and cruise speed facilitates the group wants to acquire for its implementation on 1 July.

The economy introduced a system of beliefs, the world submitted their designs and explained the role we had given in that world the financial racket was only an invention of idolatry is idolatry to and we know that idolatry always end very badly, causing the collective sacrifice of their gullible followers. “Cops I read something in a journal as ABC, which was a serious newspaper.

The strange thing is that the columnist who writes that almost excuses the role of Zapata in this apocalyptic scenario that draws: “A Zapata now stuck with poor puppet in the hands of the priests of idolatry.” Total, which will be to blame for Spain to go the way of the 5 million unemployed and is in a state of economic ruin of Zapata is not harmful or its management but of the economy. This is like blaming the rain to weather, or blame the bad occurrences of some to philosophy or thought in general, or as a school that have gone wrong because the accounts of mathematics. You do not say anything about the tremendous simplicity to attribute the current financial system that identifies idolatry with the economy, which says so openly and whose credulous followers are ready to sacrifice them.

Ace a few days the European Commission announced the contents of the much-heralded European Digital Agenda, the first of seven flagship initiatives under the 2020 European Strategy for smart growth, sustainable and integrated. It has set seven objectives, which will translate into a hundred steps, thirty of which are legislative in nature.

I hope this new European Union strategy, as necessary for future development of the European economy more successful than its predecessor does, the Lisbon Agenda does. Having examined the various documents submitted an ambitious proposal seems critical to the economic fortunes and welfare of Europeans in the coming years.

The implementation of the European Digital Agenda, contribute significantly to economic growth in the EU and distribute the benefits of the digital age among all sectors of society. As also contained a report by the Commission on the digital competitiveness of the European economy, half the productivity growth recorded in the last fifteen years has already been promoted by information technology and communications. See previous entry: The European Commission said the investment in the digital economy remains crucial. However, although it is expected that this trend will accelerate, Europe will need to apply a series of measures to exploit fully the potential benefits of the digital economy.

The recent announcement by the head of the Ministry of Finance and Public Credit, in relation to the intention to limit the transactions in dollars in the bank counters as a mechanism to prevent money laundering, have a regressive effect wing border region’s economy and thus this effect will affect the rest of the economy.

This is considered the vice president of the National College of Economists, José Luis Contreras Valenzuela, saying While it is important to implement control mechanisms to prevent money laundering as part of a strategy against organized crime, it is also true that policies are implemented should not affect the smooth running of the economy.

Nor should become inhibitors of economic activity, because the crisis deepened generate better conditions for the rise in crime, he said.

“We must not fail to see that crime and the illegal actions take place more rapidly when the conditions of economic activity suffer a crisis so deep that even we could not get out. In addition, have enough memory to remember that these conditions have worsened in recent years, “he said.

He said it is important that public policy have as its fundamental objective to create conditions for healthy growth of the economy, creating jobs, facilitating the operations of enterprises and productive assets in order to create jobs and revive the market.

However, if we persist in implementing measures to absurdities such as limited-counter foreign exchange transactions, an economy where many commercial transactions occur in dollars, we think that a measure such as the Ministry of Finance audience, he said.

Contreras Valenzuela said that this business practice every day in the border cities, demand for a facility and foreign exchange controls and implemented as the one introduced by it, pushed to the users of dollars of housing market change, promoting speculation and black market dollars.

He said that in the six northern border states of Mexico accounts for forty percent of the national population in border cities like Ciudad Juarez, Tijuana, Medical, Matamoras, Reins, Nuevo Laredo, Nogales and Ague Pieta, focuses almost twenty million Mexicans.

The Honduran economy will grow between 2.2 and 3.2 percent this year after recovering from the 1.9 percent fall suffered in 2009 by the international crisis and domestic political conflict, predicted yesterday the Central Bank of Honduras (BCH).
Members of the Board of Central Bank of Honduras

Members of the Board of Central Bank of Honduras

The information on these and other economic parameters were announced at a press conference on the “Monetary Program for 2010-2011″ which was adopted yesterday by the authorities BCH through its directory.

The president of BCH, Maria Elena Montage, reported that “an estimated annual inflation rate in December 2010 to 6 per cent, with a tolerance range of plus or minus one percentage point (pp) and 5.5 percent, with the same tolerance range for 2011. “

According to the monetary program is expected to reduce the deficit to 4.4 percent of GDP in 2010 and 4.1 percent in 2011.

The BCH also noted that “the lack of a budget to guide the management of public administration for a large part of 2009 allowed a relaxation in fiscal policy, which, added to the political crisis raised in June of that year, was in a significant increase in central government deficit which stood at 6.2 percent of GDP at year-end.”

That growth will be “driven mainly by the recovery in private consumption and external demand,” said the president of BCH, Maria Elena Montage, introducing the Monetary Programmed 2010-2011.

He recalled that in 2009 the Gross Domestic Product (GDP) “contracted by 1.9 percent, deepening the slowdown shown in 2008,” and anticipated the growth forecast for 2011 is between 3.6 and 4.6 percent.

“Based on global economic recovery in 2010, and by the return to political stability in the country, is expected to return to the Honduran economy growth path to achieve a GDP growth within a range between 2.2 and 3.2 percent, “says the document.

The report attributed the slowdown in activity to the international crisis and the effects of the internal political crisis, “which resulted in lower financial flows and a significant reduction in external and domestic demand.”

The Government of Ecuador on Wednesday discussed the new development strategy, which builds on four pillars: the selective substitution of imports, surplus energy (allowing diversify dependence on oil), diversification and import substitution and build a service economy based mainly in the bioconocimiento and tourism services.

This was explained by the National Secretary of Planning (SENPLADES), Rene Ramirez, who said he also expected “to put all the incentives of economic policy” in 14 industries with the aim that these be consolidated.

“Basically we are talking about tax incentives, trade, tariff, enabling financial changes in relative prices for the construction of the domestic industry,” he said.

These industries are: tourism, fresh and processed foods, renewable energy, alternative and renewable beanery, pharmaceuticals, chemicals, biotechnology (biochemistry and biomedicine), environmental services, metallurgy, technology (hardware and software mainly), plastics and rubber, garments and footwear, vehicles, automotive, car bodies and parts (mainly linked to the inputs involved in the production of agricultural goods), transportation and logistics, construction and forest products for wood processing.