He also suggested that Japanese politicians should make visits to Tokyos Yasukuni war shrine quietly to avoid controversy. Such visits currently take place amid wide publicity and are a sore point for other Asian nations that suffered under Japanese occupation during World War II. Aso said Thursday he was misunderstood and only meant to say that loud debate over whether Japan should change its postwar constitution, and other issues is not helpful. In retracting his comments, he said it was very unfortunate and regrettable that his comments were misinterpreted.
Finance Minister makes his debut on CNBC Africa show
In the first half, the group’s earnings fell 63 percent on-year to 358.3 billion won. The group said it allocated a one-off expense over corporate tax related to its brokerage unit sales, and its profit margin is on the decline amid the low rate trend. The government is seeking to sell the state-invested Woori Finance in three different batches — regional banks, banking and brokerage units — by the end of 2014. Local banking groups have been suffering from falling profitability, finding it difficult to generate profit amid a long streak of low rates and the economic slowdown.
Market Chatter-Corporate finance press digest
He cited the power crisis as a major impediment to economic growth in the past months but emphasized that the economy is now well-positioned to bounce back strongly from such shocks it has suffered in recent times. We had some setbacks in the economy particularly gas supply from Nigeria which led to serious power shortages which also affected productivity. But as we speak, the gas supply has been restored and we are also on stream to produce our own gas and so the Ghanaian economy would return to the robust growth it has seen in the last few years he said. On the recent $1 billion Eurobond issue, he summarized the four major objectives which the proceeds are to be committed to. Were first going use about $250 million to refinance the 2007 Eurobond which is due to mature in 2017.
Woori Finance Q2 net dips 51.4 pct on decreased margin
insurer American International Group Inc is still in talks about selling its aircraft leasing unit to a Chinese consortium after missing a July 31 deadline to close the $4.8 billion deal, sources said. * Austrian packaging group Constantia Flexibles has hired banks for an initial public offering that could take place this year, sources familiar with the situation said. * Terra Firma Capital Partners, the buyout group run by dealmaker Guy Hands, is close to agreeing a deal to sell its Northern Irish gas distribution company Phoenix Energy Holdings Group to Hastings Funds Management, Bloomberg reported. * ICU Medical Inc (ICUI), the California-based maker of intravenous medical equipment, is in exclusive talks to sell itself to Chicago private-equity firm GTCR LLC, said people familiar with the matter, Bloomberg reported.