1.9.2011 by HoisseBig.

shame over NATO Terrorist

Libya Revolt Helped Stop Italy Bank Collapse

5:20pm UK, Tuesday August 23, 2011

Ed Conway, economics editor

Trade in shares of Italy’s largest bank has been suspended - as it emerges that events in Libya have helped prevent a collapse of the Italian banking system.

UniCredit’s share price tumbled as a solution for eurozone debt appeared distant

UniCredit’s share price has plunged in the past month because of market fears over eurozone debt - and now share dealing has been halted due to volatility.

Although it may sound far-fetched, the Libyan revolution of the past six months may have saved it and other Italian banks amid the crisis.

The tale of Libya and its Italian bank investment adventure underlines just how far the Gaddafi clan’s influence reached in financial markets throughout the world.

Libya’s wealth comprised a range of assets, including gold, oil and sovereign wealth fund investments.

The Libyan Central Bank was one of three Libyan sovereign wealth funds

Just how much of these are returned to any future government remains to be seen - but if you look at the extensive investments in Italy, you can find a prime example of where the Libyans have already lost out.

According to documents uncovered by Global Witness, the Libyan Investment Authority’s biggest investment was in Italian bank Unicredit.

The choice is not accidental - Italy was Libya’s colonial parent, the legacy of which is extensive financial and political connections.

Through three of its sovereign wealth funds - the LIA (the most above-board), the Central Bank of Libya and the Libya Foreign Bank (these two were able to invest slightly more secretively) - the regime amassed some 1.4 billion shares in UniCredit.

The Libyan sovereign funds brought their investment in the Italian bank to their current level in early 2010.

Italian banks saw a selling wave earlier this month - but Libya’s stake was frozen

Then the second wave of the financial crisis struck, just as the Libyan investments were frozen throughout Europe, preventing Tripoli’s investment officers from pulling out their cash.

In February, the combined stake was worth 2.8bn euros. Today, it is worth a mere 1.2bn euros.

That is a collapse of almost 60% - and the fall is sharper still if you go back to early 2010, when the investments reached their current volume.

Had the Libyan assets not been frozen, one suspects the Gaddafi family might have sold their Unicredit investment, whether because of the bank’s deep troubles or because of their need to free up resources for their fight against rebels.

However, the upshot of the freeze was that Unicredit (which, when the European authorities performed stress tests on their banks had one of the worst balance sheets in the area) was able to rely on its biggest aggregate shareholder not selling its stake and pushing its share price down further.

It is impossible to know how much impact this had on the Italian bank - even a 7.2% stake cannot prevent the remaining 92.8% of shareholders selling out if they so choose.

But the unintended consequence was at least a small relief for the Italian bank as it battled the second wave of the financial crisis. Not to mention a crippling loss for the Libyan sovereign wealth funds.

http://news.sky.com/home/business/article/16055496

New leaked document reveals HSBC held $1.4bn of Libyan funds

1st July 2011

Download - Libyan Investment Authority, as of September 2010

Download - Libyan Investment Authority, as of June 2010

Between June and September 2010 the Libyan state oil fund deposited over $1bn with HSBC, according to a document leaked to Global Witness and published today. The deposit brought the balance with the British bank to $1.42bn, up from $292.7m three months earlier. The document also reveals the total assets managed by the state oil fund – Libyan Investment Authority (LIA) – swelled from $54bn to $64bn in the space of three months.

The information, contained in a Management Information Report for the LIA dated 30 September 2010, follows a report for the previous quarter, dated 30 June 2010, that Global Witness published earlier this year. On releasing the document, Global Witness called for new laws requiring banks and investment funds to disclose all state funds they manage.

“Banking secrecy laws still mean that citizens are left in the dark about how their own state’s funds are managed,” said Robert Palmer, a campaigner at Global Witness. “We can’t continue with a situation where information about how a state handles its assets is only made available once a dictator turns violently on his own people and information is leaked,” continued Palmer.

According to the document, the LIA held $1bn in an “HSBC Liquidity Acct.”, $395m in HSBC Luxembourg, and a final $2.9m in an unidentified account.

In addition to detailing the LIA’s cash deposits, the September document includes a damning assessment of the performance of six of the externally managed funds with which the LIA had invested $1.7bn. The LIA was unhappy with the high fees and weak performance of NotzStucki, Permal, Palladyne, BNP, Credit-Suisse and Millennium Global Investments funds, which all performed badly against an industry benchmark of world stock prices.  According to the document, the accounting firm KPMG advised that the LIA’s investment in ‘alternative funds’ – such as those listed above – was too high relative to other investments.

The LIA, for example, had invested $300m with a fund called Palladyne, which the Wall Street Journal has reported was managed by the son-in-law of the head of Libya’s state-owned oil company.

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http://www.globalwitness.org/library/new-leaked-document-reveals-hsbc-held-14bn-libyan-funds

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1.9.2011 by HoisseBig.

FIVE MOST INFLUENTIAL WOMEN IN KOSOVO ¶2. (SBU) The five most influential women in Kosovo: Name: Flaka Surroi Title and Institution: President of the Koha Group, which publishes Kosovo’s highest circulation daily newspaper “Koha Ditore.” Background: In the 90’s she served as an activist with the Council for the Defense of Human Rights and Freedoms, then later contributed to postwar reconstruction as head of one of Kosovo’s most successful NGOs - the Kosovo Community Fund. Contact Information: Email: flaka@koha.net. Address: Sheshi Nene Tereza No. 31 A; 10 000 Pristina, Kosovo. Tel: (381) 38-249-104; (381) 38-243-875. Mobile: (377) 44-506-426. Name: Jeta Xharra Title and Institution: Kosovo Director of the Balkan Investigative Reporting Network (BIRN) and moderator of the popular weekly television debate program “Jeta ne Kosove” (Life in Kosovo). Background: Xharra was a youth activist before the 1999 war, and then went on to become a journalist with Koha Ditore and then the BBC. She later completed a masters degree in the UK. Contact Information: Email: jeta@birn.eu.com. Web: http://kosovo.birn.eu.com. Address: Sheshi Nena Tereze 22B No. 6; 10 000 Pristina, Kosovo. Tel/fax: (381) 38-228-168. Mobile: (377) 44-135-209. Name: Pranvera Dobruna Title and Institution: Managing Director of the Kosovo Energy Corporation (KEK), the largest public utility in (and possibly the largest publicly-owned enterprise) in Kosovo. Background: Energy is major political, economic and development issue in Kosovo, and Dobruna is directly involved and influential in all aspects of energy policy, including the unbundling of the energy sector and the possible privatization of Kosovo’s largest state-owned enterprise. Contact Information: Email: pranvera.dobruna@kek-energy.com. Address: Mother Theresa Street, No. 36; Toscana Building; 10 000 Pristina, Kosovo. Telephone: (381) 38-228-684. Mobile: (377) 44-505-895. Name: Major General Atifete Jahjaga Title and Institution: Assistant Commissioner for the Border Security and Boundary Police section of the Kosovo Police Service (KPS). Background: A key leader in the KPS, Jahjaga has worked tirelessly to promote the democratization of the police force. She was the first Kosovo woman to become an a Lieutenant General and then Assistant Commissioner; and the first KPS officer to be accepted to the FBI Academy in Quantico, Virginia. Contact Information: Email: atifetejahjaga@gmail.com. Address: Luan Haradinaj Street, 10 000 Pristina, Kosovo. Telephone: (381) 38-50-80-1060. Mobile: (377) 44-505-222. Name: Mimoza Kusari Title and Institution: Executive Director of Kosovo’s American Chamber of Commerce. Background: Seen as the voice of the Kosovo business community, Kusari has had a direct influence on the government’s economic and foreign investment policies. Contact Information: Email: mimoza.kusari@amchamksv.org. PRISTINA 00000187 002 OF 002 Address: Gustav Major Street, No. 6; 10 000 Pristina, Kosovo. Telephone: (381) 38-246-012. Mobile: (377) 44-540-018. INFLUENTIAL WOMEN AMONG KOSOVO’S MINORITY COMMUNITIES ¶3. (SBU) Given the complex and sensitive inter-ethnic situation in Kosovo, post would like to add the following as influential women from among Kosovo’s minority communities. Name: Vesna Jovanovic Title and Institution: Member of the Kosovo Assembly and of the moderate Serbian List for Kosovo and Metohija (SLKM). Background: A proactive and moderate Kosovo Serb politician who has successfully advocated for her community of Partes to become a new Serb-majority municipality, and who is closely involved in the attempts to establish a new moderate Kosovo Serb Assembly that seeks greater engagement with Kosovo institutions, the international community and with the majority Kosovo Albanian population (Ref B). Contact Information: Email: vesnajovanovic 722004@yahoo.com. Address: Partes village, Gnjilane municipality, Kosovo. Telephone: (377) 44-248-056; (381) 63-8751-751.

Name: Nadira Avdic-Vllasi  Title and Institution: Editor-in-Chief of the Bosnian  language programming section of the public broadcaster Radio  Television Kosovo (RTK); editor in chief of Bosnian language  Alem magazine.

Background: In addition to her role with minority media, Avdic-Vllasi is one of the organizers of the Kosovo Bosniak Forum, a civil society organization that enables Bosniaks to engage on political issues that will affect them. Contact Information: Email: navllasi@yahoo.com. Address: Hajdar Dushi 1A No. 9; 10 000 Pristina, Kosovo. Telephone: (381) 38 2409 669. Mobile: (377) 44 185 100. Name: Hiljmnijeta Apuk Title and Institution: Director and founder of the NGO “Little People of Kosovo,” representing the disabled. District Financial Officer, Kosovo ministry of health. Editor in Chief of the Kosovo newspaper for persons with disabilities. Background: Represented Kosovo at the UN General Assembly’s International Convention on Protection and Promotion of the Rights and Dignities of persons with disabilities in 2006. Longtime activist supporting rights for the disabled, both in Kosovo and in the former Yugoslavia. Contact Information: Email: hiljmnijetaa@yahoo.com. Web: www.lpkosova.com. Telephone: (381) 28-30-814; (381) 28-24-670. Mobile: (377) 44-293-518. ¶4. (U) Post does not clear this message for release to UN Special Envoy Martti Ahtisaari. KAIDANOWhttp://wikileaks.org/cable/2007/03/07PRISTINA187.html

FIVE MOST INFLUENTIAL WOMEN IN KOSOVO    ¶2.  (SBU) The five most influential women in Kosovo:    Name: Flaka Surroi  Title and Institution: President of the Koha Group, which  publishes Kosovo’s highest circulation daily newspaper “Koha  Ditore.”  Background: In the 90’s she served as an activist with the  Council for the Defense of Human Rights and Freedoms, then  later contributed to postwar reconstruction as head of one of  Kosovo’s most successful NGOs - the Kosovo Community Fund.  Contact Information: Email: flaka@koha.net.  Address: Sheshi  Nene Tereza No. 31 A; 10 000 Pristina, Kosovo.  Tel: (381)  38-249-104; (381) 38-243-875. Mobile: (377) 44-506-426.    Name: Jeta Xharra  Title and Institution: Kosovo Director of the Balkan  Investigative Reporting Network (BIRN) and moderator of the  popular weekly television debate program “Jeta ne Kosove”  (Life in Kosovo).  Background: Xharra was a youth activist before the 1999 war,  and then went on to become a journalist with Koha Ditore and  then the BBC.  She later completed a masters degree in the  UK.  Contact Information: Email: jeta@birn.eu.com.  Web:  http://kosovo.birn.eu.com.  Address: Sheshi Nena Tereze 22B  No. 6; 10 000 Pristina, Kosovo.  Tel/fax: (381) 38-228-168.  Mobile: (377) 44-135-209.    Name: Pranvera Dobruna  Title and Institution: Managing Director of the Kosovo Energy  Corporation (KEK), the largest public utility in (and  possibly the largest publicly-owned enterprise) in Kosovo.  Background: Energy is major political, economic and  development issue in Kosovo, and Dobruna is directly involved  and influential in all aspects of energy policy, including  the unbundling of the energy sector and the possible  privatization of Kosovo’s largest state-owned enterprise.  Contact Information: Email: pranvera.dobruna@kek-energy.com.  Address: Mother Theresa Street, No. 36; Toscana Building; 10  000 Pristina, Kosovo.  Telephone: (381) 38-228-684.  Mobile:  (377) 44-505-895.    Name: Major General Atifete Jahjaga  Title and Institution: Assistant Commissioner for the Border  Security and Boundary Police section of the Kosovo Police  Service (KPS).  Background: A key leader in the KPS, Jahjaga has worked  tirelessly to promote the democratization of the police  force.  She was the first Kosovo woman to become an a  Lieutenant General and then Assistant Commissioner; and the  first KPS officer to be accepted to the FBI Academy in  Quantico, Virginia.  Contact Information: Email: atifetejahjaga@gmail.com.  Address: Luan Haradinaj Street, 10 000 Pristina, Kosovo.  Telephone: (381) 38-50-80-1060.  Mobile: (377) 44-505-222.    Name: Mimoza Kusari  Title and Institution: Executive Director of Kosovo’s  American Chamber of Commerce.  Background: Seen as the voice of the Kosovo business  community, Kusari has had a direct influence on the  government’s economic and foreign investment policies.  Contact Information: Email: mimoza.kusari@amchamksv.org.    PRISTINA 00000187  002 OF 002      Address: Gustav Major Street, No. 6; 10 000 Pristina, Kosovo.   Telephone: (381) 38-246-012.  Mobile: (377) 44-540-018.    INFLUENTIAL WOMEN AMONG KOSOVO’S MINORITY COMMUNITIES    ¶3.  (SBU) Given the complex and sensitive inter-ethnic  situation in Kosovo, post would like to add the following as  influential women from among Kosovo’s minority communities.    Name: Vesna Jovanovic  Title and Institution:  Member of the Kosovo Assembly and of  the moderate Serbian List for Kosovo and Metohija (SLKM).  Background: A proactive and moderate Kosovo Serb politician  who has successfully advocated for her community of Partes to  become a new Serb-majority municipality, and who is closely  involved in the attempts to establish a new moderate Kosovo  Serb Assembly that seeks greater engagement with Kosovo  institutions, the international community and with the  majority Kosovo Albanian population (Ref B).  Contact Information: Email: vesnajovanovic 722004@yahoo.com.  Address: Partes village, Gnjilane municipality, Kosovo.  Telephone: (377) 44-248-056; (381) 63-8751-751.

Name: Nadira Avdic-Vllasi  Title and Institution: Editor-in-Chief of the Bosnian  language programming section of the public broadcaster Radio  Television Kosovo (RTK); editor in chief of Bosnian language  Alem magazine.

Background: In addition to her role with minority media, Avdic-Vllasi is one of the organizers of the Kosovo Bosniak Forum, a civil society organization that enables Bosniaks to engage on political issues that will affect them. Contact Information: Email: navllasi@yahoo.com. Address: Hajdar Dushi 1A No. 9; 10 000 Pristina, Kosovo. Telephone: (381) 38 2409 669. Mobile: (377) 44 185 100. Name: Hiljmnijeta Apuk Title and Institution: Director and founder of the NGO “Little People of Kosovo,” representing the disabled. District Financial Officer, Kosovo ministry of health. Editor in Chief of the Kosovo newspaper for persons with disabilities. Background: Represented Kosovo at the UN General Assembly’s International Convention on Protection and Promotion of the Rights and Dignities of persons with disabilities in 2006. Longtime activist supporting rights for the disabled, both in Kosovo and in the former Yugoslavia. Contact Information: Email: hiljmnijetaa@yahoo.com. Web: www.lpkosova.com. Telephone: (381) 28-30-814; (381) 28-24-670. Mobile: (377) 44-293-518. ¶4. (U) Post does not clear this message for release to UN Special Envoy Martti Ahtisaari. KAIDANOW

Phristina

http://wikileaks.org/origin/66_0.html
http://wikileaks.org/cable/2007/03/07PRISTINA187.html

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