brussels
May 9, 2010 by Trend PK
Filed under World News
A hung Parliament has left Britain at a huge disadvantage in negotiating the final wording of a controversial EU directive that will clamp down on hedge funds and private equity.
Lisa Cawley, regulatory partner of law firm Kirkland & Ellis, said: “There is a real concern that the UK election result leaves a major part of our financial services industry without a voice at a critical point in the EU legislative process.”
The Directive on Alternative Investment Fund Managers, which is to be agreed today in Brussels, marks a determined effort by European regulators to crack down on alternative investment companies in the wake of the financial crisis.
The European Parliament is expected to approve strict new rules forcing alternative investment managers to disclose far more about their investment strategies and the way they pay staff.
The currency climbed for a second day after last week completing its biggest drop against the dollar since the collapse of global credit markets in October 2008. European officials declined to disclose the size of the stabilization fund, to be made up of money borrowed by the EU’s central authorities. The mechanism may be worth 500 billion euros, said a government official familiar with the talks in Brussels.
“Markets’ assessment of the effectiveness of the package will be critical to the fortunes of the euro, equity markets and risk appetite early in the week,” Mike Jones, a currency strategist at Bank of New Zealand Ltd. in Wellington, wrote in a note to clients.
Guide to CCIE Lab Locations: Brussels
Oil Price Increases In Asia Trade
SINGAPORE: Oil prices were above 72 dollars in Asian trade on Friday following an overnight rally which saw the market buoyed by strong performances on Wall Street and a weakening US dollar, analysts said.
New York’s main futures contract, light sweet crude for October delivery, was up 13 cents to 72.62 dollars a barrel. Brent North Sea crude for delivery in October was unchanged at 72.51 dollars.
“Oil market sentiment benefited from a recovery on US equity markets,” the Commonwealth Bank of Australia said in a report.
Oil Price Increases In Asia Trade was first posted on August 28, 2009 at 4:06 pm.
©2009 “Pakistan News“.
