Al Shabaab Bans Mobile Banking Service
Mogadishu, Somalia (AHN) – Al Qaeda-inspired group Al Shabaab on Sunday imposed a ban on Zaad Service, a mobile banking service recently launched by Hormuud, Golis and Telesom telecommunications companies in Somalia.
Zaad allows customers to use their mobile phones for money transfers, purchases, payment of bills, and airtime recharges.
“Those telecommunications companies must stop Zaad Service mobile banking service in three months,” the insurgent group said in a statement.
“Hormuud Telecom in southern Somalia, Golis Telecom in Somalia’s semi-autonomous region of Puntland and Telesom Company in the break away republic of Somaliland had been given that chance to save people’s money,” it said.
The press release said a lengthy investigation by Al Shabaab found that Zaad Service poses a great hazard to the economy of Somalis and accused an unnamed company in United States of being behind the service. The group said the unnamed service wanted to take over the economy of the world by using MMT (Mobile Money Transfer). Al Shabaab argued that use of Somali shillings declined in recent moths because of the mobile service.
Thousands of Somalis have been using Zaad since its launch in February.
Banks barely existed in this war-torn African nation a decade ago. Now, Somali residents can bank over their mobile phones.
Somalis, particularly consumers of the mobile banking service, expressed a deep concern about Al Shabaab’s ban.
“To be safe from robbing, hundreds of U.S. dollars can be saved in your tiny mobile phone,” Ahmed Nur told a local radio station, adding this ban may affect thousands of people and telecommunications companies immediately.
With a lack of functioning central rule in Somalia, business telecommunications are lucrative.
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Belgian Rail Strike To Disrupt Eurostar Service To Brussels
Paris, France (AHN) – Eurostar service from some European countries to Belgium will be disrupted by a 24-hour strike by Belgium rail workers set to begin at 22:00 Central European Time on Sunday and end at 22:00 (CET) on Monday.
Belgium rail workers are striking to protest a deadlock in negotiations with Belgium’s SNCB rail company over an unpaid bonus to workers.
No Eurostar trains will operate to Brussels during that time, according to a statement on the Eurostar website.
“A revised Eurostar timetable will be in place on our Brussels route, with trains running between Lille Europe station and the U.K. only. A very limited coach service will operate between Lille and Brussels and we expect heavy demand for these coaches and journey times will be significantly longer (by approximately 2 hours). We would therefore recommend that customers planning to travel between Belgium and the UK during this time postpone their journeys if possible. Customers can exchange their Eurostar tickets free of charge within 60 days for a journey in the next 120 days,” Eurostar officials said.
In addition, strikes in France will disrupt Eurostar service there earlier on Sunday. However, the Paris-London line will not be affected.
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‘Slowdown’ in UK economic growth
Growth in the UK economy is slowing, with the service sector particularly affected, two surveys suggest.
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Caltrain Approves Fare Hike; Stops Four Midday Trains
San Francisco, CA, United States (AHN) – California’s commuter train service, Caltrain, has approved a proposal to raise fares and cut service to address a $2.3 million budget shortfall.
The rail service’s board of directors voted Thursday to charge 25 cents more for each zone. The increase means a rider traveling from San Francisco to Atherton stations will pay $6.50 instead of $6.00. Caltrain has six zones beginning in San Francisco and ending in Gilroy.
The price of the annual Go Pass will be $155, up from $140.
The board also decided to stop midday trains 236, 237, 256 and 257. The four trains ply the San Francisco-San Jose route.
The changes take effect on Jan. 1.
Caltrain expects to earn an additional $1.4 million from the zone fare hike, and $150,000 from the Go Pass increase.
The agency has received more than 1,500 comments from riders during a month-long public comment period. Some groups had put forth formal proposals, such as the San Francisco Bicycle Coalition.
Caltrain had been considering more cuts but decided against reducing weekday early morning and evening service since many commuters would be left without a means to get to work.
Agency executive director Michael Scanlon made clear last month the changes would be the first of many because of a projected budget deficit of nearly $30 million in fiscal year 2012.
“These will be the good old days compared to what we will face in July,” Scanlon had said.
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Alt-A Downgrades Exceed $40 bil in Past 2 Weeks
Moody’s Investors Service reported downgrades to more than 500 tranches from Alt-A residential mortgage-backed securities during the past two weeks. The lowered ratings impacted around $42 billion in securities. The downgrades were made to RMBS issued in 2005, 2006 and 2007.
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Financing of Equipment Related Service Contracts
U.S Corporate Capital Leasing Group provides financing of equipment related service Contracts. In essence this lender provides a funders consulting service for a large variety of vendors and manufactures who provide services to other businesses.
Definition of Monetizing Financing
“Monetizaton financing” that uniquely facilitate transactions in abroad array of industries and has many significant structural advantages over traditional financing. Additionally, this financing may be utilized by what may beconsidered by traditional finance as a “qualified” borrower as well as an unqualified borrower.( See Requirements Below)
Monetizing Financing is more advantageous than traditional financing for unqualified borrowers in the following categories:
· Low competitive fixed bank interest rates rather than tied to prime interest
Rate
· Interest rates are determined by a combination of term of the loan, credit
of the obligor, and treasuries at the time of the commitment
· Unique flexibility in payment terms allowing payor to customize repayment terms to suit their own specific corporate needs
In short what these means is that you can turn your business contracts into cash instead of waiting months or years to receive payment. In this current economy, you may have already discovered difficulty in procuring service contract equipment financing you need from traditional sources.
U.S Corporate Capital Leasing Group specialty is to fund Service Provider Transactions for investment grade and near investment grade end users of those services. This will enable you to acquire the maximum cash from contracts now. If you need to provide equipment in conjunction with your service our lenders can help.
Program Requirements
- Minimum Deal Size $1 Million
- End User/Obligor must be bond rated BB or better
- Service Contract must have a component of equipment
- This program is not for ongoing service maintenance contracts
In addition to creative financing options for you business contracts, there are also innovative lease and loan programs. These programs are typically available in non-standard industries, which provide you the added benefit of working with a finance company that knows your customers and how to maximize their value to you
There are customized and flexible plans available which are designed to deliver the level of service and financial support that is right for you. This enables you to access the money you need from your sales immediately, instead of having to wait and receive payment incrementally over the life of the contract. Your new sales can be quickly qualified and funded so that you can optimize your cash flow and keep on growing your business.
Examples of this provider service are customers who receive telecommunication services, telephone systems, from a vendor such for large oil companies. Banks that receive large computer installation equipment from other manufactures. A chain of hospitals that receive a special data base and computer equipment system from a vendor.
These examples are just a few to mention, however the end user is critical to the qualifying equation as well as the vendor/manufacturer.
Other types of the industries and equipment this program could cover are the following:
GOVERNMENT, NUCLEAR,WATER TREATMENT PLANTS, OFFICE EQUIPMENT, COMPUTER MAINFRAMES,MEDICAL EQUIPMENT, AUTOMOTIVE PLANT EQUIPMENT, SOFTWARE, LAB EQUIPMENT, TECHNOLOGY, SECURITY EQUIPMENT, MINING, OIL RIGS, RADIO TELECOMMUNICATIONS EQUIPMENT, MAIL EQUIPMENT, PRODUCTION EQUIPMENT, BRODCAST, FILM PRODUCTION EQUIPMENT, HVAC, INDUSTRIAL MANUFACTURING EQUIPMENT, SCIENTIFIC EQUIPMENT, HOSPITALS, BANKS, PETROLEUM COMPANIES
If you have any questions, give us a call or email us on the address on the website.
Rick has over thiry years in the financial field, including leasing, working capital and hard asset money loans, and commercial lending http://www.cclgequipmentleasing.com/lease_equipment.htm Article Source:http://www.articlesbase.com/loans-articles/financing-of-equipment-related-service-contracts-1304375.html
