“The government has seven members from the ruling family and the rest are former ministers … This confirms that there is no intention to inject young blood,” independent MP Riyadh al-Adasani said. “Article 6 of the constitution states that the people are the source of all powers but in reality the ruling family is the source of all powers,” former opposition MP Abdulrahman al-Anjari wrote on his Twitter account. The ministers of commerce, development, social affairs and labour, education and Islamic affairs were retained. Newly-elected MP Issa al-Kundari was appointed communications minister.
Ferro Rejoins STMicro as Finance Chief After Unit Split
The schools’ management said it ended fiscal 2013 with a $6 million deficit but expects to report a surplus of approximately $6 million in 2014 due to school closures and possible midyear budget cuts, S&P said. “The rating reflects a pledge of all state aid to be appropriated by the state of Michigan to the Detroit Public Schools starting with fiscal 2014,” the rating company said. The Detroit Public Schools enrollment could fall by as much as 33 percent, and state aid will be sufficient to cover debt service, according to S&P.
Michigan Finance Authority revenue notes rates SP-1 -S&P
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GE Capital Retail Finance Celebrates 80 Years of Consumer Financing
Ferro was moved to ST-Ericsson last year to revive the joint venture, whose cessation was completed today. STMicroelectronics and Ericsson decided to dissolve the 50-50 partnership, which designed chips used in mobile phones, in March after failing to find buyer during a three-month search. Ericsson said today the ventures split is complete and 1,800 employees working with modems will join the Swedish company, while STMicro would take on the ventures other parts. STMicro said Ferro will also be responsible for legal, central operation planning, procurement, information technology and investor relations on top of his financial duties.