Новости

Global oil prices crumble

Yesterday price for “Brent” lost 1.48 dollars in one day, hitting a new historical minimum of $80 since September 2010. This morning it went down even further to $77.61. Experts see the main reason for such tendency in expectations of experts that OPEC countries are not planning to cut oil mining fast enough to decrease excess supply on the market – informs Interfax with a reference to Bloomberg.

Largest global banks caught on foreign currency manipulations

Financial regulators of the USA, Switzerland, and Great Britain fined five very large global banks they had caught on attempts to manipulate exchange rates. HSBC Holdings, UBS, Citigroup, Royal Bank of Scotland, and J.P. Morgan Chase will together pay 3.4 billion dollars in fines. Experts can’t deny that manipulations with foreign currency have become quite common, and not all even get caught.

IASB, EFRAG, EFFAS, and ABAF will hold further public discussions of rate regulation

The International Accounting Standards Board, the European Financial Reporting Advisory Group, the European Federation of Financial Analysts Societies (EFFAS), and Association Belge des Analystes Financiers (ABAF) announced new public discussions of rate regulation in the context of financial accounting. The next such meeting will be held on 18 December in Brussels.

Russian FOREX market participants may possibly be forced by the CB to stop currency speculations, but not like that

The Bank of Russia is not yet punishing foreign currency speculators, but its warnings (and actions) may have had certain stimulating effect. For example, the regulator imposed limitations on provision of liquidity to banks with a well-known instrument called a “currency swap”. Experts say that this was an unexpected decision which made speculators start thinking of changing the course of their further actions.

IASB vice-president Ian Mackintosh also commented on accomplishments of IFRS during the last decade

The 10th anniversary of IFRSs in Europe is approaching, so it is the right time to draw conclusions. The European Commission is continuing its investigation into the role of international financial reporting standards and their influence on European financial accounting. Representatives of top governance of the international standard setter are also keen to present some (preferably) positive statistics.

Michel Prada delivers a speech in Japan on usefulness of IFRSs

Chairman of Trustees of the IFRS Foundation Michel Prada recently delivered a new speech at a meeting of the Foundation’s stakeholders in Tokyo, Japan. His presentation was entitled “Japan and global standards”. He again emphasized advantages of global IFRS adoption and commented on the current situation in the country.

ESMA sees potential to improve IFRS endorsement in the EU

The European Securities and Markets Authority (ESMA) recently presented its own comments to the European Commission’s extended consultations on the effect of adoption of IFRSs on European financial accounting since 2005.

Dmitry Medvedev promises no restrictions on foreign currency exchange or movement of capital

Russia’s government shares position of the Bank of Russia in that it doesn’t want any restrictions on free movement of capital or exchange of foreign currency. For example, head of the Cabinet of Ministers Dmitry Medvedev promised that neither the government nor the Central Bank would adopt any limitations on selling of foreign currency. And just like it was promised earlier, they have no plans to restrict movement of capital either. In that positions of the Russia’s government and the Central Bank are identical.

Russian companies won’t be able to create new consolidated groups of taxpayers in 2015

Quite possibly, next year Russian companies will be left without an option to create consolidated groups of taxpayers (CGTs) in order to prevent tax avoidance and for other reasons as well. A set of corresponding amendments to the Tax Code is today being considered by the State Duma.

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