Daily Archives
April 5, 2023
“Lebanese Citizens Face US Treasury Sanctions for Unveiled Activities”
written by Alexandra Hartman Editor-in-Chief
Brian Nelson, the US Treasury Undersecretary for Terrorism and Financial Intelligence, has disclosed that Lebanese banks allowed certain clients from the political elite to transfer over $456 million to their offshore accounts since October 2019. Nelson spoke during a conference call held to discuss the sanctions slapped on Raymond and Teddy Rahma, and their businesses in Lebanon and the UAE. He explained that the sanctions resulted from the use of their company to secure energy contracts through opaque means. The action aims to support the Lebanese people seeking to escape corruption and mismanagement. According to local reports, the two Rahma brothers faced charges previously launched once morest them by the Lebanese judiciary. The charges related to a corrupt system established over some years to edit the results of fuel tests through bribes and other benefits. In remarks delivered to Al-Hurra, Nelson denied that the sanctions aimed to target Suleiman Franjieh, a presidential candidate close to the Rahma brothers. He emphasised that the sanctions served to demonstrate accountability and the rule of law in Lebanon, regardless of political or religious affiliation. Nelson concluded his statement by pledging to bring to justice those who benefitted from corruption, money laundering, and who threatened the Lebanese people.
Brian Nelson, the US Treasury Undersecretary for Terrorism and Financial Intelligence, revealed that since October 2019, Lebanese banks have allowed some clients from the political elite to transfer at least $456 million to their accounts abroad.
Nelson said in a conference call devoted to talking regarding the sanctions imposed by the Treasury Department on the brothers Raymond and Teddy Rahma and their companies in Lebanon and the UAE, that “the Lebanese elites ignored the public’s calls for transparency and reform while protecting their assets from decline by transferring their private funds outside the country.” The Lebanese have a deteriorating energy infrastructure due to a lack of action on reforms, mismanagement and endemic corruption.
Nelson explained that the US Treasury Department imposed sanctions on the two brothers, Raymond and Teddy Rahma, because they “use their company to secure energy contracts through a very opaque process. The sanctions aim to support those in Lebanon who wish to get out of the corruption and mismanagement that pushed Lebanon into this crisis.”
Nelson indicated that the Lebanese judiciary had previously charged the two Rahma brothers. He said, “The initial charges once morest the Rahma brothers and their companies, which were not pursued by the Lebanese prosecution, refer to a system that was put in place over years to falsify the results of fuel tests in return for bribes ranging between $200 and $2,500 for each field sample, not to mention the gifts of watches, neckties, handbags, and ounces of gold.” In addition to trips abroad among others, according to the local press.
In response to a question by Al-Hurra regarding whether these sanctions are related to the presidential elections in Lebanon and that the United States wants behind them to send a message to the presidential candidate, Suleiman Franjieh, who is close to the two brothers, Rahma, the US Treasury Undersecretary said: “The sanctions have nothing to do with the presidential elections at all. This measure focuses on Showing the consequences for the elites that continue to engage in corrupt practices in Lebanon.I think my colleague Assistant Secretary of State Barbara Leaf also said that this is a very urgent need for Parliament to elect a president and form a government and implement important economic reforms in order to get Lebanon back on the road to recovery.So we are encouraged This is completely the case, but this measure once more focuses only on showing the real consequences of these elites who have been involved in corrupt practices in Lebanon.”
“Yesterday’s ratings highlight how corruption is particularly rampant in the electricity sector. Despite officials’ pledge to improve the provision of power cuts, darkness still covers most parts of the country and impedes the provision of basic services,” he stressed. “Through sanctions, we make it clear that the United States government prioritizes accountability and the rule of law in Lebanon, regardless of political or religious affiliation,” he stressed.
The US Undersecretary of the Treasury concluded by sending a message to the Lebanese people, saying, “Our message to the Lebanese people is that the United States hears and calls for transparency and accountability for those who choose between continuing corrupt practices or bringing regarding change now, and we will continue to punish those who benefit from corruption, money laundering, and threats to the Lebanese people.”
In conclusion, the US Treasury Department’s sanctions on the Rahma brothers and their companies have shed light on the corruption that has plagued Lebanon’s elite for far too long. It is concerning that Lebanese banks have allowed clients from the political elite to transfer millions of dollars abroad while the infrastructure in the country suffers due to mismanagement and corruption. These sanctions are not related to the presidential elections, but rather a call for transparency and accountability in Lebanon. The United States government prioritizes accountability and the rule of law, and through these sanctions, it is evident that they will continue to punish those who benefit from corruption and threaten the Lebanese people. The message to the Lebanese people is clear- it is time for change, and it is time for transparency and accountability.
Man United, who won but felt uncomfortable…’Fourth place competitor’ Newcastle exploded with 5 goals |
written by Alexandra Hartman Editor-in-Chief
[포포투=백현기]
Manchester United won, but were not refreshed. Because of rivals Newcastle United.
Manchester United won 1-0 once morest Brentford in the 25th round of the English Premier League (EPL) in the 2022-23 season held at Old Trafford in Manchester, England at 4 am (Korean time) on the 6th. As a result, Manchester United moved up to fourth place with 53 points, overtaking Tottenham Hotspur, while Brentford are in 9th place with 43 points.
Manchester United are in the middle of a fight for fourth place. Manchester United, who were in 5th place with 50 points before the match, were tied with Newcastle in 3rd and Tottenham in 4th with 50 points. However, it was in 5th place behind the goal difference, and needed a win and multiple points to rebound in the rankings.
Manchester United started the 4-2-3-1 formation once morest Brentford. Marcus Rashford came out in the front line, and Anthony, Marcel Sabitzer, and Jadon Sancho were located in the second line. Bruno Fernandez, who was previously in charge of the attacking midfielder, came down to the third line and worked with Scott McTominay.
Man Utd took a high share, but Brentford also responded with a sticky defensive organization. Man Utd, who mainly tried to attack from the right, joined Diogo Dalot and actively used Anthony on the right, but might not open the goal in the early stages.
In the first half of the tense flow, the main character who broke the silence was Rashford. In the 28th minute of the first half, Manchester United’s corner kick continued to attack, and Rashford finished the ball that Sabitzer dropped with his head. The first half ended with a 1-0 Manchester United lead.
In the second half, Man United started to solidify. As Brentford significantly increased their attacking numbers, United tried to maintain a one-point lead by replacing Anthony with Victor Lindelof. In the end, Manchester United won 1-0 and moved up to 4th place.
Meanwhile, United won, but mightn’t just be happy. It was because of the results of the match between Newcastle and West Ham United, which was played at the same time. Newcastle beat West Ham 5-1 in the 7th round of the Premier League at 4:00 am. Newcastle secured 3rd place with five goals thanks to Colum Wilson and Joellington’s multiple goals and Alexander Isaac’s goal, far ahead of Manchester United in goal difference.
This puts Newcastle in 3rd, Manchester United in 4th and Tottenham in 5th. Tottenham has played one more game than Man Utd and Newcastle, so it is highly likely that the difference between the two teams will widen. The competition for 4th place between the three teams is expected to be fierce for the remainder of the season.
IRPC prepares to offer debentures – digital debentures in the amount of 8 tranches of 3, 5, 7, and 10 years with interest rates of 3.20 – 4.40%.
written by Alexandra Hartman Editor-in-Chief
IRPC prepares to offer 8 series of debentures and digital debentures with tenors of 3, 5, 7, and 10 years. [3.20 – 4.40]% Credit Rating of A-(tha) Debentures expected to be offered in May
IRPC Public Company Limited or IRPC prepares to issue and offer debentures this May. to general investors and institutional investors through 9 financial institutions The debentures have been rated A-(tha) by Fitch Ratings (Thailand), reflecting confidence and recognition as a company that creates innovation in the use of materials and energy. Aiming to strengthen the current business and moving forward to penetrate new businesses ready to create a balance in caring for the environment
Mr. Krit Imsang, Chief Executive Officer and President of IRPC Public Company Limited or IRPC, revealed that IRPC is preparing to issue and offer debentures and digital debentures. Unsubordinated, unsecured, and 8 series of debenture holders’ representatives for general investors. And institutional investors, consisting of debentures and digital debentures with a tenor of 3 years, interest rates [3.20 – 3.40]% p.a. Bonds and Digital Bonds 5-year interest rate [3.70 – 3.90]% p.a. Bonds and Digital Bonds, 7-year term, interest rate [4.00 – 4.20]% per annum and 10-year bonds and digital debentures, interest rates [4.20 – 4.40]% per annum. IRPC will announce the final interest rate in May. All debentures have interest payment every 6 months throughout the debenture life. and is expected to open for subscription on [26, 29-30] This May through 9 financial institutions, including Bangkok Bank. Bank of Ayudhya Krung Thai Bank Kasikorn Bank Siam Commercial Bank CIMB Thai Bank TMB Thanachart Bank, United Overseas Bank (Thai) and Kiatnakin Phatra Securities for digital bonds Offered for sale through the “Pao Tang” application of Krung Thai Bank only.
In 2022, IRPC builds a solid foundation for doing business. By increasing the proportion of specialty products, high value (Specialty Product) by 22%, opening a factory, Innopolymed Co., Ltd. produces non-woven fabrics. for medical consumables 4 production capacity expansion projects, namely the PP Meltblown project with a capacity of 40,000 tons per year, which has the highest production capacity in the country; and a project to produce PP Spunbond plastic resin (PP Spunbond) 190,000 tons per year for medical and hygiene products. Project to produce PPR plastic resin (PPR: PP Random Copolymer Pipe) 80,000 tons per year to produce hot and cold water pipes without phthalates as the first in the region. and the project to produce HDPE 100 – RC (HDPE100 – RC) at 40,000 tons per year to produce industrial pipes that can last up to 100 years, reducing construction costs and duration. without opening the soil
In addition, the company has been successful in major maintenance of the refinery in the past 5 years to increase production efficiency. and environmental friendliness Support for the Euro 5 refinery efficiency and quality improvement project (Ultra Clean Fuel Project or UCF) that will begin commercial operation early next year. and joining hands with partners to expand current businesses and create new business Including the opening of an oil depot in Surat Thani Province ready to support the growth of the southern economy
Mr. Krit further said that in order to meet the needs of creating good things for the future, the company has set a goal to reduce greenhouse gas (GHG) emissions by 20% by 2030, carbon neutral goals in 2050 and greenhouse gas emissions. Net Zero Emissions by 2060
IRPC debentures are another good option for investors in this highly volatile and uncertain market as they provide stable returns and the Company has been rated A-(tha) with a negative outlook ( negative) and debentures received a credit rating of A-(tha) from Fitch Ratings (Thailand) Limited on March 16, 2023.
Interested investors will be able to conveniently subscribe for debentures through a variety of channels. Either through branches or online channels of the bond underwriters who provide services. In addition, an alternative in the form of digital bonds has been added. which investors can hold stocks through wallets Scripless Bond and can be traded in real time 24 hours a day through the “Pao Tang” application, where investors can immediately see the holding information on the “Wallet” and can make transactions. Buy/sell debentures in the secondary market via “Wallet”
For general investors interested in subscribing to IRPC debentures, they can subscribe for a minimum of 100,000 baht and a multiple of 100,000 baht via Bangkok Bank. Bank of Ayudhya Kasikorn Bank Siam Commercial Bank CIMB Thai Bank, TMB Bank, Thanachart Bank, UOB Bank and Kiatnakin Phatra Securities and for the subscription of digital bonds A minimum subscription of 1,000 baht and a multiplier of 1,000 baht can be made through the debenture trading wallet on Krungthai Bank’s ‘Paotang’ application only. By studying more details at www.sec.or.th And you can contact the underwriters as per the details below.
Bangkok Bank Public Company Limited Tel. 1333 or Bualuang mBanking
Bank of Ayudhya Public Company Limited Tel. 1572 or Krungsri Mobile Application (KMA)
Krung Thai Bank Public Company Limited Tel. 02-111-1111 by subscribing via Debenture Wallet. On the ‘Pao Tang’ application of Krung Thai Bank Public Company Limited only
Kasikorn Bank Public Company Limited, Tel. 02-888-8888, press 819. Individuals reserve online through https://www.kasikornbank.com/kmyinvest (except foreign nationals) and juristic persons subscribe through head office and branches)
Siam Commercial Bank Public Company Limited Tel. 02-777-6784 or SCB Easy App
TMB Thanachart Bank Public Company Limited Tel. 1428 press #4
CIMB Thai Bank Public Company Limited Tel. 02-626-7777 or Mobile application – CIMB Thai Digital Banking
United Overseas Bank (Thai) Public Company Limited Tel. 02-285-1555
securities company Kiatnakin Phatra Public Company Limited (including Kiatnakin Phatra Bank Public Company Limited) as a sales agency) Tel. 02-165-5555 or Application DIME