<ul><li>Upset over sharp reduction in the rates of duty drawback, or tax refund, exporters Sunday said the move will have adverse impact on employment in sectors like apparel, leather, handicraft and metal.
Reduction of drawback for apparel, leather, metal handicraft, carpets, certain engineering products will have a bearing on employment.
On Saturday, the Central Board of Excise and Customs (CBEC) slashed rates of duty drawbacks -- refund of import duties on raw materials used in exports -- by up to 30 percent for several items. </li></ul>#1. Sharp cut in tax refund rates to affect jobs, exports<br />
<ul><li>The new rates are effective from tomorrow (Monday).
Although, the country's exports have risen by 28.6 percent between April-August this fiscal, certain segments like garments, handicrafts, handloom and carpets, are yet to pick up from the setback received during the global downturn of 2008-09.
Exports from these labour intensive sectors have been severely impacted due to fragile demand recovery in major markets like the US and Europe.
Duty drawback rate for cotton garments has been reduced to 7.5 percent against the present rate of 8.8 percent.
Duty drawback has been reduced in other sectors also. </li></li></ul><li><ul><li>British youths who cannot get jobs here should be sent to India for IT training which could improve their prospects for employment when they return home.
India's IT tycoon AzimPremji had offered that he could train British youths and send them back so that they could have better job prospects.
Cable is also opposed to placing an annual cap on migrants from India and other countries outside the EU.</li></ul>#2. Unemployed UK youths should be sent to India for IT training.<br />
<ul><li>Placing an annual limit on the number of Indian and other non-EU professionals who could come to Britain for work is one of the major items on the coalition government's agenda. The plan, however, has been opposed in several quarters.
Cable said the cap - currently placed at 24,100 until April 2011 - was leading to companies moving jobs overseas because they are unable to hire key personnel.</li></li></ul><li><ul><li>Fear of inflation has always been one of the prime reasons for investing in gold, yet in an era of nail-biting uncertainty, investors are buying the shiny stuff to ward against price swings in either direction.
This was to be the year when the world economy flourished after suffering recession in 2009, corporate profits would bloom and central banks would remove their policy safety nets.
Investors would be ready to assume more risk, leaving their well-worn security blankets like gold to gather dust.</li></ul>#3. To beat inflation or deflation, investors seek gold.<br />
Forgetting the present, generically speaking, gold is a hedge against inflation. <br />In normal times, it would not be a hedge against deflation ... but because this time the association with deflation is panic, then that flight to quality and liquidity is worth something.<br />Given value credentials of gold, it would survive the current era of inflation and win mandates on the quality angle as opposed to anything else. <br />
<ul><li>Recruiting wars in the genteel world of private banking are heating up, with bankers to the super-rich increasingly looking to retail brokerages and wealth management boutiques for new blood.
The job-hopping frenzy has shifted to private bankers catering to individuals with more than USD 10 million of investable wealth.
Citigroup Inc has been leading the charge since spinning off its Smith Barney retail brokerage last year to a venture controlled by Morgan Stanley.</li></ul>#4. Private Banks battling for advisers to super-rich.<br />
<ul><li>The embattled bank has recruited dozens of bankers and other executives this year, many from Bank of America Corp's US Trust.
While the majority of recruits still come from private banks -- businesses that offer credit, investments, trust and estate planning services -- banks are increasingly targeting financial advisers from Wall Street.
Private banks and top-end brokerages perform many of the same jobs and target the same kinds of customers, but because of differences in compensation and culture, there has been little crossover between the two groups.
Private bankers are paid a salary and bonus determined by the bank, while financial advisers receive a percentage of the fees and commissions they generate. Advisers usually earn more than private bankers managing comparable assets.</li></li></ul><li><ul><li>Chinese authorities are closely monitoring trends in the real estate market and are not yet planning fresh tightening steps.
Further measures to curb speculation and rein in the red-hot property industry have weighed heavily on the domestic stock market, especially as there have been signs of a rebound in both transactions and prices recently.
China rolled out a slew of measures in April to make it harder for people to buy second or third homes, such as raising minimum down payments on mortgage loans.</li></ul>#5. China bank regulator says no fresh property tightening.<br />