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Opening of the Eterna Stock Exchange


Pikachurin
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Opening of the Eterna Stock Exchange

July 9, 2009

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The ESE building at night.

ETERNA - Today the Ministry of Finance, along with the five biggest banking companies (Bank of Disparu, Royal Bank, NovaBank, aeroBank and the Bank of Manitoba), announced the grand opening of the Eterna Stock Exchange (ESE). Based in the Disparuean capital, it is managed by the ESE Group, a company partially owned by the Government of Disparu.

Having a price tag of approximately $30 million, it is currently the most expensive project the Government has invested in, and is Disparu's first ever wonder. Minister of Finance Aaron Yvonne (Democratic Party) told reporters that "the Stock Exchange should provide a big increase to citizens' gross income and will benefit the Disparuean economy as a whole". Yvonne also told reporters that it will take at least two hundred days before the Stock Exchange pays for itself and begin to profit.

The Stock Exchange was included in the July 2009 Federal Budget, which also included an upgrade in infrastructure, a larger budget for the Royal Military and the Ministry of Science and Technology, new improvements, and money that can be used for Canada West's land deal with Disparu, which will expire on July 21, 2009.

The inclusion of the Stock Exchange in the Federal Budget was met with criticism from several Members of Parliament (MPs). Some MPs argued that the Stock Exchange will interfere with the development of Disparu's infrastructure and land. However, Minister of Finance Aaron Yvonne told them that the Stock Exchange will increase the Government's budget, which means more infrastructure and land.

Several businesses from Disparu and all over Planet Bob are represented on the ESE, although local businesses outnumber international ones. In addition to conventional securities, the ESE lists various exchange-traded funds, split share corporations, income trusts and investment funds. The ESE trading floor is located in the heart of the Eterna Commons.

We have also received reports that the Disparuean government is planning on investing in a Social Security Plan, which will provide benefits to the aging members of society. It is rumored that the Government will raise taxes by 2% (which will bring it to 30%) in order to accommodate the plan.

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In other news, the Ministry of Science and Technology has reported that it will start importing technology from other TDO nations...

Edited by Pikachurin
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