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Canada Revenue Agency: Interest Rates for the First Calendar Quarter

Posted by on Dec 10, 2012 in Blog | 0 comments

Canada Revenue Agency: Interest Rates for the First Calendar Quarter

OTTAWA, ONTARIO–(Marketwire – Dec 6, 2012) – The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations. These rates are calculated quarterly in accordance with applicable legislation and will be in effect from January 1, 2013 to March 31, 2013. The rates below remain unchanged from the previous quarter. Income tax The interest rate charged on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums will be...

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RBC to acquire Ally’s Canadian auto finance business

Posted by on Oct 27, 2012 in Blog | 0 comments

RBC to acquire Ally’s Canadian auto finance business

Acquisition positions RBC as a leader in auto financing in Canada TORONTO, Oct. 23, 2012 /CNW/ – Royal Bank of Canada (RY on TSX and NYSE) today announced a definitive agreement to acquire the Canadian auto finance and deposit business of Ally Financial Inc. (“Ally Canada”) for a $1.4 billion investment net of excess capital. Subject to certain closing adjustments and including the excess capital, this results in total consideration of $3.1 to $3.8 billion, depending on the size of the dividend taken out by the seller prior to closing. The acquisition aligns with RBC’s...

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Canada: Types Of Infrastructure Ontario Projects & How Financing Works

Posted by on Oct 27, 2012 in Blog | 0 comments

Canada: Types Of Infrastructure Ontario Projects & How Financing Works

Now that you know what Infrastructure Ontario is, what types of projects does Infrastructure Ontario fund? Infrastructure Ontario projects tend to fall within two types: Design Build Finance. In a Design Build Finance project, the contractor not only builds, but the contractor and a related project company obtain financing for the project as well. Design Build Finance Maintain. In a Design Build Finance Maintain project, the contractor and related project company finance the project and the contractor builds and performs maintenance and repairs for the facility for an extended period of time...

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300 Million Rubles ($9.5 Million) Factoring Financing with Russia’s Largest Private Bank

Posted by on Oct 24, 2012 in Blog | 0 comments

300 Million Rubles ($9.5 Million) Factoring Financing with Russia’s Largest Private Bank

Factoring Agreement Will Support Technology Company’s Growth and Development of Its TOT Money Mobile Commerce and Payment Processing Platform in Russia and Other Emerging Markets MIAMI & MOSCOW–(BUSINESS WIRE)– Net Element International Inc. (NASDAQ: NETE), a technology driven group in mobile commerce and payment processing, as well as in entertainment and culture Internet destinations in Russia and other emerging markets, today announced that its mobile payment processing company, TOT Money, has entered into a 300 million rubles (approximately $9.5 million) factoring...

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