The document provides an outlook for the second half of 2013. It predicts that the performance of markets will converge on a path of modest gains with increased volatility. In the first half of 2013, stocks took a bull path, commodities took a bear path, and bonds took a base path. However, in the second half the document expects the different markets to follow a similar, modest but volatile path. It summarizes key elements of the economic and market outlook, including continued 2% GDP growth in the US, a slowing but ongoing Fed bond buying program, and modest single-digit returns for stocks and bonds.
- Growth in 2022 will moderate from 2021 levels as central banks and governments begin removing stimulus measures, but the economic recovery is still expected to continue with firm demand.
- Household balance sheets have significantly improved, increasing savings and wealth, which will support continued strong consumer spending. Government infrastructure spending plans will also support growth.
- Supply challenges are a greater concern than demand, as supply chains remain disrupted and key production hubs like China maintain COVID restrictions, which could keep inflation elevated for longer.
- Tight labor markets may also put upward pressure on wages, supporting consumer spending but challenging the view that inflation will remain low. Central banks are expected to withdraw stimulus gradually and are unlikely to aggressively raise rates in 2022
Informe - La economía global entra en aguas turbulentasIgnacio Jimenez
The global economy has seen sluggish growth in 2015 as emerging markets struggle. Global growth is projected to be just 2.5% in 2015 and modestly increase to 2.9% in 2016, below historical averages. Advanced economies are doing relatively well, while emerging markets face headwinds from falling commodity prices, China's economic slowdown, and anticipated higher US interest rates. Global trade growth has also been disappointing and is expected to be around 1% in 2015 before a slight pickup in 2016. China now accounts for 18% of global GDP, making its economic performance a dominant factor for global growth.
Financial Wealth Management benefits a basic knowledge of the current economic climate. Download this free report on the state of the economy, government, and how they affect YOU.
The document provides an economic review and outlook covering various regions and countries. It discusses slowing global economic growth but reduced risks. Foreign direct investment declined globally in 2012 but some countries like Africa saw growth. The US Fed announced a possible tapering of quantitative easing which initially caused market selloffs but markets recovered. Eurozone risks were lowered by ECB actions though risks remain. Germany's economy slowed due to weakening Chinese demand. China's growth declined for two successive quarters due to weak overseas demand.
In 2014, there may be more all-time highs seen in the stock market and higher yields in the bond market than
we have seen in years as economic growth accelerates. The primary risk to our outlook is that better growth in
the economy and profits does not develop. That risk is likely to be much more significant than the distractions
posed by Fed tapering and mid-term elections. In our almanac, we forecast a healthy investment environment
in which to cultivate a growing portfolio in 2014.
*** GDP: 3% Growth ***
As economic drags fade and global growth improves, the U.S. economy may accelerate to its fastest pace in nearly a decade.
*** STOCKS: 10-15% Returns ***
This slightly above-average annual return forecast is rooted in our expectations for high single-digit earnings growth and a modest rise in the PE.
*** BONDS: Flat Returns ***
Interest rates will move higher and bond prices lower in response to improving economic growth eroding return from yield.
The document provides an outlook for 2016, summarizing that:
1) China has committed to ensuring 7% growth for the immediate future through government intervention, but rebalancing away from investment is necessary long-term which will slow growth rates.
2) In Europe, GDP growth has accelerated from under 1% to 1.6% since late 2014, supported by ECB monetary easing expanding credit.
3) In the US, growth in construction employment and spending is contributing to a 5% rise in personal consumption and will likely continue supporting the economy in 2016.
- Emerging economies face renewed financial turbulence as their currencies have depreciated sharply against the U.S. dollar in January 2014.
- The U.S. economy registered robust GDP growth in the fourth quarter of 2013, growing at an annualized rate of 3.2%.
- The economic performance of developing countries in the last quarter of 2013 was heterogeneous, with some facing currency pressures and others seeing stronger than expected growth.
The document provides an outlook for the second half of 2013. It predicts that the performance of markets will converge on a path of modest gains with increased volatility. In the first half of 2013, stocks took a bull path, commodities took a bear path, and bonds took a base path. However, in the second half the document expects the different markets to follow a similar, modest but volatile path. It summarizes key elements of the economic and market outlook, including continued 2% GDP growth in the US, a slowing but ongoing Fed bond buying program, and modest single-digit returns for stocks and bonds.
- Growth in 2022 will moderate from 2021 levels as central banks and governments begin removing stimulus measures, but the economic recovery is still expected to continue with firm demand.
- Household balance sheets have significantly improved, increasing savings and wealth, which will support continued strong consumer spending. Government infrastructure spending plans will also support growth.
- Supply challenges are a greater concern than demand, as supply chains remain disrupted and key production hubs like China maintain COVID restrictions, which could keep inflation elevated for longer.
- Tight labor markets may also put upward pressure on wages, supporting consumer spending but challenging the view that inflation will remain low. Central banks are expected to withdraw stimulus gradually and are unlikely to aggressively raise rates in 2022
Informe - La economía global entra en aguas turbulentasIgnacio Jimenez
The global economy has seen sluggish growth in 2015 as emerging markets struggle. Global growth is projected to be just 2.5% in 2015 and modestly increase to 2.9% in 2016, below historical averages. Advanced economies are doing relatively well, while emerging markets face headwinds from falling commodity prices, China's economic slowdown, and anticipated higher US interest rates. Global trade growth has also been disappointing and is expected to be around 1% in 2015 before a slight pickup in 2016. China now accounts for 18% of global GDP, making its economic performance a dominant factor for global growth.
Financial Wealth Management benefits a basic knowledge of the current economic climate. Download this free report on the state of the economy, government, and how they affect YOU.
The document provides an economic review and outlook covering various regions and countries. It discusses slowing global economic growth but reduced risks. Foreign direct investment declined globally in 2012 but some countries like Africa saw growth. The US Fed announced a possible tapering of quantitative easing which initially caused market selloffs but markets recovered. Eurozone risks were lowered by ECB actions though risks remain. Germany's economy slowed due to weakening Chinese demand. China's growth declined for two successive quarters due to weak overseas demand.
In 2014, there may be more all-time highs seen in the stock market and higher yields in the bond market than
we have seen in years as economic growth accelerates. The primary risk to our outlook is that better growth in
the economy and profits does not develop. That risk is likely to be much more significant than the distractions
posed by Fed tapering and mid-term elections. In our almanac, we forecast a healthy investment environment
in which to cultivate a growing portfolio in 2014.
*** GDP: 3% Growth ***
As economic drags fade and global growth improves, the U.S. economy may accelerate to its fastest pace in nearly a decade.
*** STOCKS: 10-15% Returns ***
This slightly above-average annual return forecast is rooted in our expectations for high single-digit earnings growth and a modest rise in the PE.
*** BONDS: Flat Returns ***
Interest rates will move higher and bond prices lower in response to improving economic growth eroding return from yield.
The document provides an outlook for 2016, summarizing that:
1) China has committed to ensuring 7% growth for the immediate future through government intervention, but rebalancing away from investment is necessary long-term which will slow growth rates.
2) In Europe, GDP growth has accelerated from under 1% to 1.6% since late 2014, supported by ECB monetary easing expanding credit.
3) In the US, growth in construction employment and spending is contributing to a 5% rise in personal consumption and will likely continue supporting the economy in 2016.
- Emerging economies face renewed financial turbulence as their currencies have depreciated sharply against the U.S. dollar in January 2014.
- The U.S. economy registered robust GDP growth in the fourth quarter of 2013, growing at an annualized rate of 3.2%.
- The economic performance of developing countries in the last quarter of 2013 was heterogeneous, with some facing currency pressures and others seeing stronger than expected growth.
Cover Story End to QE: Not a great idea for Asia?
Outlook Chinese Yuan
Stats India Gloom on GDP, Fiscal Deficit and Mining and Manufacturing output
Emerging Country Nigeria
In Focus Facts on Food Security Bill
The document provides an executive summary and outlook for 2017, including forecasts for the US economy, international markets, stocks, and bonds. It predicts modest US GDP growth of around 2.5% with low recession risk, fueled by fiscal stimulus. For stocks, mid-single-digit returns are expected. Bonds may see low-to-mid single digit returns. Geopolitical risks increase caution on international markets despite improved fundamentals abroad.
The document discusses Putnam's outlook on various fixed income asset classes in light of the Federal Reserve signaling that it may begin tapering its quantitative easing program. It finds that while interest rates may remain volatile in the near future, many spread sectors now offer attractive risk-adjusted returns. Specifically, it believes mortgage-backed securities, high yield bonds, bank loans, and select investment grade corporate bonds in sectors like utilities and energy provide opportunities for investors. While term structure risk from rising rates remains, security selection and tactical strategies can help add value.
No bubble trouble; stocks are still reasonably priced. This credit cycle has unique characteristics that continue to make high-yield bonds attractive. Interest-rate volatility poses greater risk than higher rates themselves.
Global economic activity is projected to slowly gain momentum, but growth will continue
to be below potential and employment gains will remain weak, says the World Economic Situation and Prospects (WESP) 2013 mid-year update, launched on 23 May 2013.
For more information:
http://www.un.org/en/development/desa/policy/wesp/index.shtml
The stock market posted modest gains in the first quarter of 2014, despite severe winter weather slowing U.S. economic growth. The S&P 500 rose 1.8% for its fifth consecutive quarterly gain, extending the bull market. Utilities and healthcare outperformed due to falling interest rates and prospects for increased demand. Commodities rebounded after a difficult 2013. Bonds matched stock returns as yields fell. The economic outlook remains positive, but disappointing growth posed risks for stocks in the near term.
As we expected, markets in 2014 have been less
influenced by politics and policymakers than in 2013
and more dependent upon growth. Growth is an
essential characteristic of all living things, and in
2014, growth is vital to our outlook for the economy
and markets. Our notes from the field contain
key observations and reaffirm our forecasts. Read the entire report.
Vietnam's Recent Economic Development 2013Quynh LE
This report provides an update on Vietnam's recent economic developments. It summarizes that global growth is stabilizing at a moderate pace, though recovery in industrial production has been uneven across countries. Financial market conditions have improved due to monetary easing, but capital costs for developing countries are rising as risks in high-income countries recede. Inflation remains benign in most countries, prompting further monetary policy easing. Trade growth has slowed after a cyclical rebound, while most commodity prices have weakened in response to increased supply and substitution.
2013’s Top 10 Lessons for Investors from LPL Financial ResearchJP Marketing | NE
Each year that passes contains some wisdom for investors, but along with that wisdom can be some folly. 2013 was a year that bestowed an abundance of each on investors.
HIGHLIGHTS: The top 10 lessons of 2013 for investors need to be put into two categories: those that investors can take to heart as sound wisdom for the year to come, and those they should try to forget as they prepare for 2014.
The document discusses interest rates in several countries. It provides the current benchmark interest rates for the UK (0.5%), Canada (1%), New Zealand (2.75%), US (varies but currently accommodative), and Australia (2.5%). It discusses factors like inflation rates, economic growth, and housing markets that central banks in these countries consider when setting interest rates. The Bank of England and Reserve Bank of New Zealand aim to influence economic activity and inflation with interest rate adjustments.
U.S. equities continued their impressive advance, with
no significant declines during the quarter. In Europe, policy changes may function as an important tailwind for growth and market performance. Globally, M&A activity has been on the rise, giving a boost to equity prices across the market-cap spectrum. The current bull market has been significant — in terms of both length and magnitude.
This document provides a summary and analysis of the global economic and investment environment in 2013 and outlook for 2014. Some of the key points covered include:
- 2013 was a positive year for global equity markets, though emerging markets lagged. Central banks maintained accommodative monetary policies.
- The US and UK economies saw improved growth, while the Eurozone contracted again. Japan's stimulus measures may boost inflation and growth. Emerging markets face slowing growth and currency weakness.
- Interest rates are expected to remain low for the foreseeable future, though central banks face challenges in communicating policy shifts. Lower potential growth and demographic trends could keep rates lower for longer than expected.
- Currency markets saw yen weakness boost
The global economy is improving overall, with the U.S. and U.K. leading the way. We expect higher GDP growth from the U.S. to support risk assets in the third quarter. We continue to expect a rise in U.S. interest rates in 2014, though eurozone policy may help slow a near-term increase. We favor credit, prepayment, and liquidity risks, which we express in allocations to mezzanine CMBS, peripheral European sovereigns, select EM sovereigns, and interest-only (IO) CMOs.
As Fed tapering unfolds, we expect to see stronger growth from developed markets, while emerging markets in aggregate may experience further currency and capital market weakness. In the United States, declining labor participation continues to drive falling unemployment figures, and may harbor the beginning of a wage inflation surprise.
• We expect credit, liquidity, and prepayment risks will continue to
be rewarded by the market in the months ahead, while interestrate
risk remains unattractive due to its asymmetric risk profile.
Hopes and Fears for 2014 – February 2014JonGrant01
The document provides an overview and analysis of the global economic outlook for 2014. It discusses concerns around another potential financial crisis due to unaddressed issues from the last crisis. It analyzes the economic situations and outlooks for the US, Western Europe, Japan, China, and other emerging markets. Key risks mentioned include potential currency volatility, debt issues, deflation, unemployment, and slowing growth in China.
Signs of inflation will raise the stakes for the Fed’s policy communications. Favorable conditions for leveraged strategies could reverse quickly. Reasonable valuations and the Fed’s policy goals continue to support risk assets.
If U.S. politics do not derail the recovery, pent-up demand can drive faster economic growth. Fixed-income outflows appear likely to continue, pushing rates higher.
Brian Nash presented on the uneven global recovery. The presentation discussed the global economic outlook, including expectations for stronger US growth led by consumption, moderate growth in China, and challenges in Europe. Central banks are becoming more aggressive in their monetary policies, with the ECB beginning a large quantitative easing program. Geopolitical risks and diverging monetary policies pose risks to the global economy in 2015.
Resultats de la Balaça Fiscal de Catalunya amb l'Administració Central 2002-2005Miqui Mel
Resulstats de la Balaça Fiscal de Catalunya amb l'Administració Central 2002-2005
Font: Grup de Treball de l'Actualització de les Balança Fiscal de Catalunya.
Data: 09.07.08.
This document provides a summary of global office market forecasts for 2014-2015 from Cushman & Wakefield. Key points include:
- Efficiency and quality workspace are driving trends as companies seek to reduce costs and promote productivity.
- Office market conditions will vary significantly across regions. The US is forecasted to have the strongest GDP growth in the Americas.
- Asia Pacific growth is expected to slow but remain solid, with large supply pipelines. Rents will rise 1-2% annually.
- European markets show signs of stabilization after economic struggles, but growth will remain below trend levels.
- Top-performing office markets include Dublin, London, Boston, San Francisco, and Santiago, based on factors like
Cover Story End to QE: Not a great idea for Asia?
Outlook Chinese Yuan
Stats India Gloom on GDP, Fiscal Deficit and Mining and Manufacturing output
Emerging Country Nigeria
In Focus Facts on Food Security Bill
The document provides an executive summary and outlook for 2017, including forecasts for the US economy, international markets, stocks, and bonds. It predicts modest US GDP growth of around 2.5% with low recession risk, fueled by fiscal stimulus. For stocks, mid-single-digit returns are expected. Bonds may see low-to-mid single digit returns. Geopolitical risks increase caution on international markets despite improved fundamentals abroad.
The document discusses Putnam's outlook on various fixed income asset classes in light of the Federal Reserve signaling that it may begin tapering its quantitative easing program. It finds that while interest rates may remain volatile in the near future, many spread sectors now offer attractive risk-adjusted returns. Specifically, it believes mortgage-backed securities, high yield bonds, bank loans, and select investment grade corporate bonds in sectors like utilities and energy provide opportunities for investors. While term structure risk from rising rates remains, security selection and tactical strategies can help add value.
No bubble trouble; stocks are still reasonably priced. This credit cycle has unique characteristics that continue to make high-yield bonds attractive. Interest-rate volatility poses greater risk than higher rates themselves.
Global economic activity is projected to slowly gain momentum, but growth will continue
to be below potential and employment gains will remain weak, says the World Economic Situation and Prospects (WESP) 2013 mid-year update, launched on 23 May 2013.
For more information:
http://www.un.org/en/development/desa/policy/wesp/index.shtml
The stock market posted modest gains in the first quarter of 2014, despite severe winter weather slowing U.S. economic growth. The S&P 500 rose 1.8% for its fifth consecutive quarterly gain, extending the bull market. Utilities and healthcare outperformed due to falling interest rates and prospects for increased demand. Commodities rebounded after a difficult 2013. Bonds matched stock returns as yields fell. The economic outlook remains positive, but disappointing growth posed risks for stocks in the near term.
As we expected, markets in 2014 have been less
influenced by politics and policymakers than in 2013
and more dependent upon growth. Growth is an
essential characteristic of all living things, and in
2014, growth is vital to our outlook for the economy
and markets. Our notes from the field contain
key observations and reaffirm our forecasts. Read the entire report.
Vietnam's Recent Economic Development 2013Quynh LE
This report provides an update on Vietnam's recent economic developments. It summarizes that global growth is stabilizing at a moderate pace, though recovery in industrial production has been uneven across countries. Financial market conditions have improved due to monetary easing, but capital costs for developing countries are rising as risks in high-income countries recede. Inflation remains benign in most countries, prompting further monetary policy easing. Trade growth has slowed after a cyclical rebound, while most commodity prices have weakened in response to increased supply and substitution.
2013’s Top 10 Lessons for Investors from LPL Financial ResearchJP Marketing | NE
Each year that passes contains some wisdom for investors, but along with that wisdom can be some folly. 2013 was a year that bestowed an abundance of each on investors.
HIGHLIGHTS: The top 10 lessons of 2013 for investors need to be put into two categories: those that investors can take to heart as sound wisdom for the year to come, and those they should try to forget as they prepare for 2014.
The document discusses interest rates in several countries. It provides the current benchmark interest rates for the UK (0.5%), Canada (1%), New Zealand (2.75%), US (varies but currently accommodative), and Australia (2.5%). It discusses factors like inflation rates, economic growth, and housing markets that central banks in these countries consider when setting interest rates. The Bank of England and Reserve Bank of New Zealand aim to influence economic activity and inflation with interest rate adjustments.
U.S. equities continued their impressive advance, with
no significant declines during the quarter. In Europe, policy changes may function as an important tailwind for growth and market performance. Globally, M&A activity has been on the rise, giving a boost to equity prices across the market-cap spectrum. The current bull market has been significant — in terms of both length and magnitude.
This document provides a summary and analysis of the global economic and investment environment in 2013 and outlook for 2014. Some of the key points covered include:
- 2013 was a positive year for global equity markets, though emerging markets lagged. Central banks maintained accommodative monetary policies.
- The US and UK economies saw improved growth, while the Eurozone contracted again. Japan's stimulus measures may boost inflation and growth. Emerging markets face slowing growth and currency weakness.
- Interest rates are expected to remain low for the foreseeable future, though central banks face challenges in communicating policy shifts. Lower potential growth and demographic trends could keep rates lower for longer than expected.
- Currency markets saw yen weakness boost
The global economy is improving overall, with the U.S. and U.K. leading the way. We expect higher GDP growth from the U.S. to support risk assets in the third quarter. We continue to expect a rise in U.S. interest rates in 2014, though eurozone policy may help slow a near-term increase. We favor credit, prepayment, and liquidity risks, which we express in allocations to mezzanine CMBS, peripheral European sovereigns, select EM sovereigns, and interest-only (IO) CMOs.
As Fed tapering unfolds, we expect to see stronger growth from developed markets, while emerging markets in aggregate may experience further currency and capital market weakness. In the United States, declining labor participation continues to drive falling unemployment figures, and may harbor the beginning of a wage inflation surprise.
• We expect credit, liquidity, and prepayment risks will continue to
be rewarded by the market in the months ahead, while interestrate
risk remains unattractive due to its asymmetric risk profile.
Hopes and Fears for 2014 – February 2014JonGrant01
The document provides an overview and analysis of the global economic outlook for 2014. It discusses concerns around another potential financial crisis due to unaddressed issues from the last crisis. It analyzes the economic situations and outlooks for the US, Western Europe, Japan, China, and other emerging markets. Key risks mentioned include potential currency volatility, debt issues, deflation, unemployment, and slowing growth in China.
Signs of inflation will raise the stakes for the Fed’s policy communications. Favorable conditions for leveraged strategies could reverse quickly. Reasonable valuations and the Fed’s policy goals continue to support risk assets.
If U.S. politics do not derail the recovery, pent-up demand can drive faster economic growth. Fixed-income outflows appear likely to continue, pushing rates higher.
Brian Nash presented on the uneven global recovery. The presentation discussed the global economic outlook, including expectations for stronger US growth led by consumption, moderate growth in China, and challenges in Europe. Central banks are becoming more aggressive in their monetary policies, with the ECB beginning a large quantitative easing program. Geopolitical risks and diverging monetary policies pose risks to the global economy in 2015.
Resultats de la Balaça Fiscal de Catalunya amb l'Administració Central 2002-2005Miqui Mel
Resulstats de la Balaça Fiscal de Catalunya amb l'Administració Central 2002-2005
Font: Grup de Treball de l'Actualització de les Balança Fiscal de Catalunya.
Data: 09.07.08.
This document provides a summary of global office market forecasts for 2014-2015 from Cushman & Wakefield. Key points include:
- Efficiency and quality workspace are driving trends as companies seek to reduce costs and promote productivity.
- Office market conditions will vary significantly across regions. The US is forecasted to have the strongest GDP growth in the Americas.
- Asia Pacific growth is expected to slow but remain solid, with large supply pipelines. Rents will rise 1-2% annually.
- European markets show signs of stabilization after economic struggles, but growth will remain below trend levels.
- Top-performing office markets include Dublin, London, Boston, San Francisco, and Santiago, based on factors like
Real Madrid had the highest revenue of €518.9 million in 2012/13. Barcelona had the second highest revenue of €482.6 million. Bayern Munich generated €431.2 million in revenue and had the highest revenue of any German club. Manchester United generated €423.8 million in revenue and had the highest commercial operations of any club, increasing 30% to €177.9 million. Paris Saint-Germain saw remarkable growth with revenue of €398.8 million after winning their first Ligue 1 title in 19 years.
The Eurozone Crisis and the Democratic DeficitMiqui Mel
This document summarizes a conference on the democratic deficit and Eurozone crisis. It includes summaries of papers presented at the conference on topics related to the democratic legitimacy of EU institutions and policy responses to the crisis. One paper argues that greater political union is needed to legitimately and effectively address the crisis, while others fear this could compound economic and political problems given differences between member states. The introduction provides context on the conference and debates issues of democracy, solidarity and diversity in the EU framework.
Abortion Statistics - England & Wales 2011Miqui Mel
- In 2011, there were 189,931 abortions for residents of England and Wales, a 0.2% increase from 2010.
- The abortion rate was highest for women aged 20 at 33 per 1,000 women. The rates for women under 16 and under 18 were lower than in 2010.
- 91% of abortions were carried out at under 13 weeks gestation and 78% were under 10 weeks, reflecting trends toward earlier procedures.
- Medical abortions accounted for 47% of the total, up from 43% in 2010, as this method has become more commonly used.
Catalonia: A Country Plundered for 300 YearsMiqui Mel
1) In the early 18th century, King Philip V introduced a new poll tax called the "catastro" to punish Catalonia after the War of Spanish Succession. The tax was disproportionately high and caused fiscal pressure and economic drain for Catalonia over decades.
2) In the 19th century, the debate between protectionism and free trade began affecting relations between Catalonia and Spain. Catalan industrialists favored protectionism while centralist policies opened Spain's borders, threatening Catalonia's cotton industry.
3) By the late 19th century, Catalonia contributed disproportionately to Spanish taxes while receiving little public investment. Barcelona province alone paid more taxes than several other Spanish regions combined. Civil disobed
Anàlisi dels Processos Secessionistes a l’Europa dels 90Miqui Mel
Un ànàlisi dels processos secessionistes a l’Europa dels 90 amb una interessant comparativa dels diferents referèndums a cadascun dels països. Elaborat pel CETC (Centre d'Estudis de Temes Contemporanis) l'any 2010.
The Situation of the Catalan Language TodayMiqui Mel
Lingcat is a multimedia presentation that describes the situation of the Catalan language today. It aims to answer exchange students' questions on sociolinguistic issues in Catalonia and the Catalan-speaking areas, with particular emphasis on the university context. Lingcat is a useful source of information for those who want to find out more about the language, either before they come to Catalonia, or shortly after their arrival.
Source: LingCat & Universitat de Barcelona
51th Annual Report of The European Free Trade Association 2011Miqui Mel
The document is the 51st annual report of the European Free Trade Association (EFTA) for 2011. It summarizes EFTA's activities in managing the European Economic Area Agreement and expanding free trade relations that year. Some key points:
- 373 EU legal acts were incorporated into the EEA Agreement to ensure homogeneous rules across the EEA.
- Hong Kong and Montenegro joined EFTA's network of free trade partners, bringing the total to 24 agreements with 33 countries.
- Negotiations were held with countries like Bosnia and Herzegovina, India, Russia, and Central American nations.
- The EEA Grants and Norway Grants continued supporting economic and social development in
The Catalan Theatre Scene (In Transit #24)Miqui Mel
The document summarizes the history and current state of the Catalan theatre scene. It discusses how theatre in Catalonia has thrived in recent decades despite political and economic challenges. Several key points:
- Barcelona has become an international theatre capital, and Catalonia now has a diverse range of theatrical offerings and institutions.
- Many contemporary Catalan playwrights have seen their works staged internationally. Collective creation companies also have reputations throughout Europe.
- Catalonia now has an impressive system of publicly subsidized theatres on par with advanced European nations. Festivals like Grec and Tàrrega are also major platforms.
- The contemporary scene includes innovative new playwrights, directors establishing
This document provides an amended bill on immigration. Key points:
20
25
30
35
40
1. It allows for the removal of persons unlawfully in the UK and their family members.
2. It expands immigration officers' enforcement powers and makes changes to bail provisions.
3. It requires biometric information to be provided with more immigration applications and citizenship applications.
4. It defines biometric information and allows biometric immigration documents to be required.
52th Annual Report of The European Free Trade Association 2012Miqui Mel
This document summarizes EFTA's free trade relations and activities in 2012. Key points:
- 3 new free trade agreements with Hong Kong, Montenegro, and Ukraine entered into force, bringing the total number of operational FTAs to 23 covering 27 countries.
- Negotiations were ongoing with 11 countries and regions including India, Indonesia, Central American states, and the Russian Customs Union.
- Joint declarations on cooperation were in place with 5 partners including Georgia and Pakistan, which signed new declarations in 2012.
- EFTA expanded its negotiation agenda by starting talks with Central American states, Vietnam, and jointly announcing negotiations with Malaysia. Negotiations with existing partners like India and Russia also progressed over multiple rounds
The document discusses how zero-hour contracts are estimated from the UK Labour Force Survey (LFS). It provides the following key points:
1) The LFS classifies anyone on a zero-hours contract as employed regardless of hours worked in the survey reference week, as long as the employment contract remains in place.
2) Estimates of people on zero-hours contracts are calculated using the LFS variable FLEXW7, which identifies any zero-hours contract work arrangement, and FLED10, which identifies a zero-hours contract as the main work arrangement.
3) Prior to 2006, estimates need to be adjusted upwards by 4/9 to account for the LFS moving from seasonal to
53th Annual Report of The European Free Trade Association 2013Miqui Mel
The European Free Trade Association (EFTA) is an intergovernmental organization that promotes free trade between its four member states - Iceland, Liechtenstein, Norway, and Switzerland. EFTA manages the EFTA Convention, which establishes free trade between member states, as well as free trade agreements with non-EU countries. EFTA also assists Iceland, Liechtenstein, and Norway in participating in the European Union's internal market through the Agreement on the European Economic Area. The organization is governed by the EFTA Council and assisted by committees and a secretariat with offices in Geneva, Brussels, and Luxembourg. EFTA has contributed to economic development in Europe through free trade and international agreements.
Investor momentum in commercial real estate continues as transaction volumes grow, despite concerns about rising interest rates. Investors are taking on more risk by targeting secondary markets and value-added opportunities. In contrast, 2013 has been a year of consolidation for corporate occupiers focused on efficiency. Leasing activity has been mixed by market but is expected to increase in 2014 as the global economy improves.
2 william blair global market outlook - december 2013123jumpad
- Developed markets significantly outperformed emerging markets in 2013, led by the US which returned 29%. This was driven by multiple expansion rather than earnings growth.
- Going forward, growth is expected to strengthen in developed markets like the US, Europe, and Japan as economic recoveries become more durable. Meanwhile, emerging markets that had relied on credit-driven growth are facing slower growth as stimulus is removed.
- Within the US, the recovery is progressing with improving housing and job trends. Wage growth is also accelerating, supporting consumption. However, the stock market is nearing the top of its valuation range and may be pricing in too much optimism about the recovery.
Global equity markets gained in Q4 2013 but declined slightly for the week as markets had an uncertain start to the new year. Asian markets were lackluster amid weak Chinese economic data that showed a deceleration in activity. European markets started cautiously despite positive economic data. US markets edged lower on thin volumes. Indian markets closed 2013 in positive territory but declined for the week on mixed domestic data. The document discusses economic and market performance in recent periods and provides an outlook for 2014, noting signs of stabilization in the Indian economy.
The document discusses investment outlooks for 2016. Key points include:
- Continued low global growth is expected, along with subdued inflation and accommodative monetary policy.
- Risks remain skewed downward, and markets could become volatile on negative news.
- In equities, favor areas with economic tailwinds like the Eurozone, Japan, and US financial and consumer sectors.
- In fixed income, favor a balanced approach including credit sensitive sectors like high yield bonds and senior loans.
- Emerging markets have experienced weaker economic growth compared to developed markets in 2013.
- Emerging market equities have significantly underperformed developed market equities since 2010, with the underperformance accumulating prior to recent tapering talk.
- Within emerging markets, BRIC countries like Brazil, Russia, India, and China have particularly underperformed the broader emerging market universe.
The document provides an overview and outlook of the Singapore residential property market in 2015. It finds that the market will likely remain weak in 2015, with private home prices expected to soften by 4-6% and HDB resale prices by 6-8%, due to three main factors: 1) the government is unlikely to ease property cooling measures as the market correction has not been significant enough; 2) there remains weak demand and massive upcoming supply, which could increase vacancy rates above 10%; and 3) the threat of rising interest rates from an expected US rate hike makes mortgages more expensive and lowers rental returns. The outlook paints a bleak picture for the residential market in 2015.
The world’s dominant commercial real estate markets have moved into 2014 in better shape than at any time since the Global Financial Crisis of 2008-2009.
Capital markets are exhibiting remarkable strength and the disconnect, that has emerged over the past two years between a more cautious occupational market, is showing signs of narrowing.
The document provides an overview and analysis of global investment markets in 2014 and perspectives on 2015.
The key points are:
- In 2014, the US stock market performed strongly while European and UK markets lagged. Emerging markets struggled overall but India and China saw gains. Commodity prices fell, hurting mining and energy stocks.
- Interest rates remained low globally due to ongoing disinflationary pressures. The author expects rates to stay low for longer than markets anticipate, particularly in the UK and Europe.
- Bond markets performed well in 2014 contrary to expectations of rising rates and underperforming bonds. The author's cautious macro outlook and expectation of low rates proved correct.
7 wells fargo 2015 mid-year outlook - turning points123jumpad
The document provides guidance from investment strategists on the global economic and market outlook. It discusses three key themes: 1) reasons for an expected turnaround in global growth, particularly in Europe, 2) factors to watch in stock and bond markets as earnings expectations and interest rates rise, and 3) where to allocate as rates rise. The strategists recommend staying invested in the US stock market but also looking overseas for growth, emphasizing income-producing fixed income, and being patient as the Fed gradually raises rates.
The document provides an outlook for the second half of 2013. It predicts that the performance of markets will converge on a path of modest gains with increased volatility. In the first half of 2013, stocks took a bull path, commodities took a bear path, and bonds took a base path. However, in the second half the document expects the different markets to follow a similar, modest but volatile path. It summarizes key elements of the economic and market outlook, including continued 2% GDP growth in the US, a tapering of quantitative easing by the Federal Reserve, and modest single-digit returns for bonds and stocks.
This document provides an overview and analysis of the US and global economies in 2014 and an outlook for 2015. In 2014, US GDP growth recovered from a weak first quarter, driven by strong growth in the second and third quarters. Unemployment continued to decline. For 2015, the outlook expects US GDP growth to reach 3.0% due to continued job growth, increased consumer spending power from lower oil prices, and a pickup in business investment. However, weakness abroad and a strong dollar may impact trade.
Jones Lang Lasalle Report on Global Real Estate Prospective for Third quarter of 2014.
World GDP output is now forecast to rise by 3% in 2014. The prediction has been revised lower this quarter largely as a consequence of the steep U.S. downgrade, and GDP growth now stands at a similar rate to last year.
Even before this change, emerging markets had the most dynamic outlook, continuing the post-crisis trend. But the balance is still slowly tipping back towards the developed world, where a steady upturn is in prospect.
The document summarizes economic conditions in April 2013, noting that:
- The US economy is growing modestly while Europe shows contraction and Asia begins recovery.
- US stocks rose in March while international stocks were flat, with US stocks significantly outperforming so far in 2013.
- Events in Cyprus indicated ongoing risks in the Eurozone as the debt crisis continues, though impacts have remained contained.
Domestic demand in some of the key rapid-growth markets (RGMs) has faltered recently and - whilst most rapid growth market economies continue to prosper - their growth trajectory seems more varied. Increasingly investors are reassessing risks.
We currently project RGMs to grow by 4.6% on average in 2013 and more close to 6% in subsequent years.
The document provides an overview of global economic conditions and financial markets in the first quarter of 2013 from the perspective of an investment counselling firm. It discusses continued signs of economic healing globally, with the largest risks diminished. Inflation is expected to remain subdued. Public debt levels remain high in developed nations. Financial markets have seen positive returns and equity inflows, despite mixed economic data. Specific economic forecasts are provided for various countries and regions.
This document provides an overview of commercial real estate market trends in Asia Pacific in the fourth quarter of 2014 and full year 2014. Some key points:
- Commercial real estate investment volumes hit a record high of USD 131 billion in 2014, surpassing the previous record. Office leasing activity also increased about 15% over 2013.
- Rental growth moderated in most major markets in the fourth quarter. Vacancy rates declined in three-quarters of major markets over 2014 due to lower new supply.
- Retail leasing demand remained healthy across the region in the fourth quarter, with Bangkok seeing the strongest rental growth. Residential leasing demand remained subdued.
- Japan was the largest commercial real
The latest quarterly strategic report that gives a summary of top market trends impacting major spend categories, and gives actionable insights to drive strategic value for your organization.
The report summarizes trends seen in major categories of corporate spending in Q1 2015. For logistics spending, it notes that unprecedented volatility in oil prices and other market factors has required logistics teams to adapt rapidly to changing conditions. For IT spending, it highlights that mobile data usage is exploding due to increased adoption of smartphones and data-heavy mobile apps, creating challenges for enterprises in managing rising mobile telecom costs. The report provides insights and recommendations for how organizations can optimize spending in these and other categories in the current market environment.
This document discusses top trends to watch in 2015 in the Asia Pacific real estate market according to a Cushman & Wakefield report. The key points are:
1) Regional economic growth is expected to moderate around 5.0-5.3% as China's growth slows, but domestic demand and policy support will help other economies.
2) Office leasing activity is projected to rebound across many markets in the region due to improving fundamentals, with emerging markets seeing the strongest gains. Vacancy rates may rise in some emerging cities.
3) Non-central business district office locations will continue attracting tenants by offering lower rents and desirable locations compared to prime CBD areas.
TC vs el Pla Estratègic d'Acció Exterior GenCat - FalloMiqui Mel
El Tribunal Constitucional español dictaminó sobre un recurso de inconstitucionalidad presentado por el Presidente del Gobierno contra la Ley del Parlamento de Cataluña 16/2014 sobre acción exterior y relaciones con la Unión Europea. El Tribunal declaró la inconstitucionalidad de varios artículos de dicha ley al considerar que invaden competencias exclusivas del Estado en materia de relaciones internacionales y de coordinación de la acción exterior.
TC vs el Pla Estratègic d'Acció Exterior GenCatMiqui Mel
EL PLENO DEL TC DECLARA INCONSTITUCIONAL PARTE DEL PLAN ESTRATÉGICO DE ACCIÓN EXTERIOR Y DE RELACIONES CON LA UNIÓN EUROPEA 2019-2020 APROBADO POR EL GOBIERNO DE CATALUÑA
Political Opinion Barometer Catalonia - 3rd Wave 2015Miqui Mel
This document provides the technical specifications and main results of the 3rd wave of 2015 of the Political Opinion Barometer survey conducted in Catalonia. It details the sample size of 2,000 interviews, methodology used, margins of error, and key findings. The main results show that 65% of respondents believe Catalonia has an insufficient level of autonomy, 41.1% believe it should be an independent state, and 46.7% want Catalonia to become an independent state.
Economic effects of a potential secession of Catalonia from Spain and paths f...Miqui Mel
Scenarios of Macro-economic Development for Catalonia on Horizon 2030: Economic effects of a potential secession of Catalonia from Spain and paths for integration with the EU
Source: CEPS & CIDOB
Date: July 2015.
Political Opinion Barometer - CEO (July 2015)Miqui Mel
This document provides technical specifications and main results from a political opinion barometer survey conducted in Catalonia, Spain. It details the survey methodology, including a sample size of 2,000 respondents stratified across Catalonia's four provinces. Key findings summarized include that over 50% of respondents feel Catalonia does not receive fair treatment from the Spanish government, and around 42-43% of respondents want Catalonia to become an independent state.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.