Posts Tagged ‘ Finance

Agility, no more US contracts?

agility

“DUBAI, Nov 17 (Reuters) – Kuwaiti logistics firm Agility (AGLT.KW) on Tuesday said a U.S. indictment would prevent it from getting contract awards until the issue was resolved but would not impair existing contracts with the U.S. government. On Monday, a U.S. grand jury indicted Public Warehousing Company, K.S.C. (PWC), also known as Agility, charges of fraud and conspiracy alleging that it overcharged the U.S. Army on $8.5 billion worth of contracts to provide food to soldiers in Iraq, Kuwait and Jordan. [ID:nN16518906]

“PWC has been debarred from future contract awards until such time as a determination has been made about the company’s current responsibility as a contractor. These allegations should have no impact on any current contracts with the U.S. government,” Agility said in a statement on the bourse website.

The grand jury in Atlanta indicted PWC on multiple charges of fraud and conspiracy in connection with contracts issued by the U.S. Department of Defense between 2003 and 2005.

“An indictment and a complaint are merely allegations. PWC is confident that once these allegations are examined in court, they will be found to be without merit,” the Agility statement said.”

Reuters

this is a really bad time for this kind of news to hit the market, since the market’s trend is heading down, i think this news will push it down even further than what we speculated.

 

How the Stock Market Really Works

stock-market

source

CFA exam policy

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“The following items may be kept on your desk, if needed:
Erasers, calculator batteries (and screwdriver for battery replacement), pencil sharpeners (no knives), eyeglasses, earplugs, and wristwatches (analog and digital) are acceptable; however, audible alarms and/or timers must be turned off”

so im not allowed to bring my knife! how can I do the exam without my knife!

Global-Jordan suspended by Court

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Global jordan a subsidiary of Global investment house got a court order to suspend all its operations. No further details disclosed, I think we will know all the story by tomorrow morning.

 

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Copy of the SEC letter

 

** all the information provided in this post are taken from ChartsandNumbers

Green day

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there is no reason why it would go up these days all the indicators are horrible, most of the announcement got delayed by the auditors to insure all the information are accurate. which means most of the company wont be able to “redesign” their financials to be shown as good as a new bride as we used to see them. the other government indicators regarding the economic rescue decision got delayed to march by our wonderful parliament. Can’t see where this country is heading to but it cant be any good.

word of the day: LIQUIDATE