China paper hints at anti-Japan sanctions
BEIJING: The mouthpiece of China’s Communist Party warned on Monday that Japan’s economy could suffer for up to 20 years if Beijing chose to impose sanctions over an escalating territorial row.
In an unexpected move, Britain chose to Exit out of the EU on Friday. After the exit from EU, Britain has two options from a policy perspective; one is to deflate and second is to devalue. Due to this separation, Britain has lost their single market for British goods.
•The basic reason for Brexit apart from the concerns of immigrants outnumbering the locals was that, a lot of euro nations have a large amount of debt in government’s balance sheet. For the past 400 years, Europe fought lot of internal battles. After Second World War wisdom dawned upon them that there should be collaborations instead of battles, so eventually after 30-35 years, it led to the formation of the European Union. But after the Second World War incumbent governments in Europe realized that after the 400 years of war and keeping their population in to eternal stress and debt, they have to provide them more prosperous future. So apart from the all the fruits of industrial revolution that they have meaningfully enjoyed, they made lot of social welfare promises to their illiterate. Most of those people are retired today and at their old age, the government is legally bound to provide these benefits to them such as healthcare benefits, social security benefit and pension benefits etc.
In an unexpected move, Britain chose to Exit out of the EU on Friday. After the exit from EU, Britain has two options from a policy perspective; one is to deflate and second is to devalue. Due to this separation, Britain has lost their single market for British goods.
•The basic reason for Brexit apart from the concerns of immigrants outnumbering the locals was that, a lot of euro nations have a large amount of debt in government’s balance sheet. For the past 400 years, Europe fought lot of internal battles. After Second World War wisdom dawned upon them that there should be collaborations instead of battles, so eventually after 30-35 years, it led to the formation of the European Union. But after the Second World War incumbent governments in Europe realized that after the 400 years of war and keeping their population in to eternal stress and debt, they have to provide them more prosperous future. So apart from the all the fruits of industrial revolution that they have meaningfully enjoyed, they made lot of social welfare promises to their illiterate. Most of those people are retired today and at their old age, the government is legally bound to provide these benefits to them such as healthcare benefits, social security benefit and pension benefits etc.
Viability of Nigeria State Governments Independent of Statutory Allocations: ...paperpublications3
Abstract: This broad study empirically evaluates the viability of Nigeria state governments independent of statutory allocations. The study was basically motivated by the persistent dependence of Nigeria State Governments on allocations from the Federation Account to the neglect of internally–generated revenues; this being so even with the current down–turn in the crude oil market, which is the main source of revenue to the federation account. The study employed the ex- post facto research design and used the regression model to determine the causal relationship between states internally–generated revenue and statutory allocations on the one hand, and states total expenditures and total revenues on the other hand, during the period 1999–2013. The results of the analysis show that, though generally, internally-generated revenues and statutory allocations have significant effects on the dependent variables (total expenditures and total revenues) their contributions to total expenditures and total revenues vary significantly. While internally–generated revenues contribute insignificantly to total expenditures and total revenues, statutory allocations contribute maximally to those dependent variables. This confirmed the dependency assumption which formed the theoretical framework of this study. The implication of this is that currently state governments cannot finance their fiscal operations without statutory allocations and/or external borrowings, thereby posing a threat to their future viability in view of the current down – ward trend in the prices of oil in the world oil marked upon which the Nigerian national budget is bench – marked. It is therefore, recommended that state governments should begin to direct more efforts toward effectively tapping the potentials of their internal sources of revenue as a safeguard against further fall in oil prices and hence, reduction in statutory allocations.
Thailand Blockchain Community InitiativeRein Mahatma
“Thai Economy: The Current State and the Way Forward”
Keynote Address by Dr. Veerathai Santiprabhob
Governor of the Ban of Thailand
Nomura Investment Forum Asia 2018
5 June 2018 / Singapore
Tightening labour markets: threat or opportunity for HR service providers? The presentation start with an economic outlook and the conséquences for the labour market in Belgium. With some concluding remarks voor HR service providers.
The global economy effects on commodity dependent countries like zambiaKampamba Shula
On the 17th of November 18, 2016 I made a presentation at the FNB Financial Journalism academy on “The Global Economy Effects on Commodity dependent countries like Zambia”. It was well received. Below are some of the highlights
Macroeconomic Developments Report. December 2018Latvijas Banka
Macroeconomic Developments Report:
External Demand;
Financial Conditions;
Sectoral Development;
GDP Analysis from the Demand Side;
Labour Market;
Costs and Prices;
Conclusions and Forecasts;
The Fiscal Impact of Inequality Measures. Analysis of Scenarios.
The S&P 500 edged up and the Nasdaq reached another
record closing high on Thursday after the European Central
Bank said it would avoid raising interest rates until mid-
2019, and data showed US economic strength.
Highlights
• Economic slump has bottomed out – expect slow recovery ahead
• 2009-10 growth forecasts will be revised upwards by most as the year progresses
• Expectations of global growth resurgence fuels commodities and crude prices
• Dollar dives, rupee surges to 47 - more trouble for exporters ahead
• Fuel price deregulation on the cards
• But all is not well – and overheated stock markets need to cool a bit
India: Kal, aaj aur kal
The numbers all seem to be looking up, the stock markets all seem to be rising once again, and cheer is back. There is spring in the air. One wonders what happened suddenly to make everything so nice. Anyhow, things as predicted are improving – largely because of heavy government interventions internationally. The lower interest rates in India are also starting to have their impact – this was all predicted, as interest rate reductions take some time to play out. But what is also predicted is that things will take a few months more to stabilise - we estimate growth for this financial year to be an unexciting 6.6%.
Viability of Nigeria State Governments Independent of Statutory Allocations: ...paperpublications3
Abstract: This broad study empirically evaluates the viability of Nigeria state governments independent of statutory allocations. The study was basically motivated by the persistent dependence of Nigeria State Governments on allocations from the Federation Account to the neglect of internally–generated revenues; this being so even with the current down–turn in the crude oil market, which is the main source of revenue to the federation account. The study employed the ex- post facto research design and used the regression model to determine the causal relationship between states internally–generated revenue and statutory allocations on the one hand, and states total expenditures and total revenues on the other hand, during the period 1999–2013. The results of the analysis show that, though generally, internally-generated revenues and statutory allocations have significant effects on the dependent variables (total expenditures and total revenues) their contributions to total expenditures and total revenues vary significantly. While internally–generated revenues contribute insignificantly to total expenditures and total revenues, statutory allocations contribute maximally to those dependent variables. This confirmed the dependency assumption which formed the theoretical framework of this study. The implication of this is that currently state governments cannot finance their fiscal operations without statutory allocations and/or external borrowings, thereby posing a threat to their future viability in view of the current down – ward trend in the prices of oil in the world oil marked upon which the Nigerian national budget is bench – marked. It is therefore, recommended that state governments should begin to direct more efforts toward effectively tapping the potentials of their internal sources of revenue as a safeguard against further fall in oil prices and hence, reduction in statutory allocations.
Thailand Blockchain Community InitiativeRein Mahatma
“Thai Economy: The Current State and the Way Forward”
Keynote Address by Dr. Veerathai Santiprabhob
Governor of the Ban of Thailand
Nomura Investment Forum Asia 2018
5 June 2018 / Singapore
Tightening labour markets: threat or opportunity for HR service providers? The presentation start with an economic outlook and the conséquences for the labour market in Belgium. With some concluding remarks voor HR service providers.
The global economy effects on commodity dependent countries like zambiaKampamba Shula
On the 17th of November 18, 2016 I made a presentation at the FNB Financial Journalism academy on “The Global Economy Effects on Commodity dependent countries like Zambia”. It was well received. Below are some of the highlights
Macroeconomic Developments Report. December 2018Latvijas Banka
Macroeconomic Developments Report:
External Demand;
Financial Conditions;
Sectoral Development;
GDP Analysis from the Demand Side;
Labour Market;
Costs and Prices;
Conclusions and Forecasts;
The Fiscal Impact of Inequality Measures. Analysis of Scenarios.
The S&P 500 edged up and the Nasdaq reached another
record closing high on Thursday after the European Central
Bank said it would avoid raising interest rates until mid-
2019, and data showed US economic strength.
Highlights
• Economic slump has bottomed out – expect slow recovery ahead
• 2009-10 growth forecasts will be revised upwards by most as the year progresses
• Expectations of global growth resurgence fuels commodities and crude prices
• Dollar dives, rupee surges to 47 - more trouble for exporters ahead
• Fuel price deregulation on the cards
• But all is not well – and overheated stock markets need to cool a bit
India: Kal, aaj aur kal
The numbers all seem to be looking up, the stock markets all seem to be rising once again, and cheer is back. There is spring in the air. One wonders what happened suddenly to make everything so nice. Anyhow, things as predicted are improving – largely because of heavy government interventions internationally. The lower interest rates in India are also starting to have their impact – this was all predicted, as interest rate reductions take some time to play out. But what is also predicted is that things will take a few months more to stabilise - we estimate growth for this financial year to be an unexciting 6.6%.
XSS is one type of vulnerability which is existing in most of the web application .Due to this vulnerabilityit may have chance to to deface website nad cookie steatling,session hijacking etc.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
China’s factory activity showed some signs of stabilizing in June but still contracted for the
fourth straight month, according to a preliminary private survey, suggesting more stimulus
measures may be needed to support the world’s second-largest economy.
CII’s flagship monthly publication Economy Watch has been now revamped and rechristened as ‘Economy Matters’. Apart from encompassing all the key features of the old version, the new issue also carries a new section on Corporate Profitability to keep readers abreast about the latest trends in corporate performance. The ‘Economy Matters’ brought out by CII Research seeks to provide an in-depth update on current trends in the domestic and international economy and helps in tracking policy developments and understanding industry dynamics.
After the uncertainty of the Brexit verdict got over, the market rallied in the last week. The market got off on the
wrong foot on the day of the Referendum results and corrected by almost 1000 points. But the market soon
realized that the renewal in trade agreement between UK and Euro is not going to happen anytime soon and it will
take around 1-2 years. India being an emerging nation, the impact of this event is quite limited. After this the
market resumed its upt uptrend. Since budget, the nifty is up by 1000 points, and in percentage terms it has gained
22%. We should remember that it is still 10% off of the it’s all time high, which was achieved in March 2015.
• Despite the fact that the PE multiple of the Indian Markets is 17 – 18 times, the FIIs continue to invest in India on
account of better growth prospects, better earning visibility. India is the only trillion dollar economy which is
growing on 7.5%, which makes it a lucrative long term story.
In the current issue of Economy Matters, we analyse the growth trends emanating out of China, Japan and US, in the section on Global Trends. In Domestic Trends, data trends in IIP, inflation and trade are analysed. The Sectoral Spotlight for this issue is on ‘Employment Potential of the Road Transport Sector’. In Focus of the Month, we evaluate the three recently released reports by DIPP, World Bank and World Economic Forum on State of Competitiveness in India.
http://pwc.to/1h2k2l4
Après cinq années de crise, de récession et de croissance décevante, nous pensons que les pays développés peuvent maintenant approcher de la "vitesse de libération" nécessaire pour une reprise durable.
2. BEIJING: The mouthpiece of China’s Communist Party warned on
Monday that Japan’s economy could suffer for up to 20 years if Beijing
chose to impose sanctions over an escalating territorial row.
Anti-Japanese protests have been held across China in recent days
over a dispute on a group of small islands in the East China Sea
claimed by both countries but controlled by Tokyo.
The row intensified last week when the Japanese government bought
three of the islands, effectively nationalising them, and China
responded by sending patrol ships into the waters around them.
Trade sanctions between Asia’s two biggest economies could cast a
pall over growth on the continent, which major Western countries are
counting on to drive recovery from the global slowdown.
A commentary in the People’s Daily newspaper said the Japanese
economy has already experienced two lost decades from the 1990s and
was suffering further weakness in the aftermath of the world financial
crisis and 2011 earthquake.
3. WASHINGTON: It seems like a terrible time to be launching a news
operation.But there are opportunities and niches, and the new
digital media launch called Quartz from Atlantic Media Company
seeks to exploit them.
Quartz is set to launch in the coming weeks as a “100 percent
digital” news operation covering “the most important themes of the
new global economy,” said editor-in-chief Kevin Delaney.
Quartz has been recruiting a small number of veteran journalists for
an overall news staff of around 25 people. The operation will feature
tablet and mobile displays as well as a desktop website, qz.com.
“There is an opportunity to do great journalism on a digital
platform,” Delaney, a former managing editor of The Wall Street
Journal Online, told AFP.“It’s a great time to launch a proBject like
this. We’ve learned the lessons of what works over the last few
years.”
4. Quartz will offer free content, with revenue coming
from advertising, aiming to cover key global business
issues and reach readers around the world.“We’re
really confident in the ad-supported model,” Delaney
said. “There has been strong advertiser interest.”
The name Quartz was chosen “because it embodies
the new brand’s essential character: global, disruptive
and digital. Quartz, the mineral, is found all over the
world, and plays an important role in tectonic activity,”
a statement said.
5. SEOUL: South Korea’s state-run think-tank on Monday cut its
forecast for the country’s growth this year to 2.5 percent,
citing the Eurozone debt crisis.
The Korea Development Institute’s latest outlook is well
below the government’s revised growth forecast in June of 3.3
percent, and over a percentage point below a May prediction
of 3.6 percent.
The country’s exports dropped sharply for a second straight
month in August, suggesting the export-reliant economy is
struggling with shrinking demand overseas.
It said Asia’s fourth-largest economy is expected to expand 3.4
percent next year, gradually recovering from the slowdown
caused by slow exports and sluggish domestic demand.
6. MANILA: The Philippine economy could grow by almost six
percent this year thanks to improving business optimism
despite a series of destructive storms in recent months,
officials said on Monday.
The economy, which grew by 6.1 percent on year in the first
half, could do even better in the rest of the year as the
government implements measures to boost laggard sectors,
socioeconomic planning secretary Arsenio Balisacan said.
He added outsourced businesses, trade and tourism were all
doing well and agriculture and manufacturing were expected
to pick up in the second half.
“With the healthy macroeconomic fundamentals and the
higher business optimism, we will most likely hit the upper
end of the 5-6 (percent) target,” he told a forum with investors.
7. Heavy rains and storms last month and early-September,
which left huge parts of the capital flooded, killings scores
and displacing millions, had only a minimal effect on the
economy, Balisacan added.
He said farmers still had time to re-plant after the storms,
adding that the floods affected mostly small businesses and
not the large factories or call centres.
Tourism Secretary Ramon Jimenez cited the 11.68 percent
rise in tourist arrivals to 2.2 million in the first half of the
year as a further reason for optimism.
Central bank governor Amando Tetangco reported a 5.3
percent rise in remittances from the millions of Filipino
working overseas to $13.3 billion in the first seven months of
2012.The officials also reported increased interest from
potential foreign investors, following President Benigno
Aquino’s election in 2010 on an anti-corruption platform.
8. ISTANBUL: Turkey’s unemployment rate fell to eight percent of
the workforce in the three months from May to July, the lowest in
more than a decade, official data showed on Monday.
The number of unemployed people fell by 311,000 over the
period to reach 2.226 million, Turkish Statistics Institute (TUIK)
said on its website on the basis of a survey of 95,699 people.
Unemployed rate stood at 9.2 percent in the same period of 2011.
Since then the number of people in jobs increased from 24.901
million to 25.577 million.
Turkey’s economy staged a spectacular recovery from the global
crisis, growing by 8.9 percent in 2010 and by 8.5 percent in
2011.Unemployment remains a major challenge for the
government in a 73 million strong country where many young
people enter the workforce each year.
9. Turkey’s jobless rate is determined through household
surveys across the country, which are then used to
make a nationwide three-month projection.
But experts say the figures do not reflect the overall
picture because of widespread undeclared or hidden
unemployment, or the employment of highly-
educated people in menial jobs. Turkish
unemployment rocketed to an annual 10.3 percent in
2001 following a major financial crisis, from a steady
6.5 percent in the previous year.
Major Companies Declare Results
By our correspondent
10. KARACHI: Attock Petroleum Limited (APL) announced on Monday
a final cash dividend of Rs32.50 per share though its profit-after-tax
for the year ended June 30 slightly down by four percent to Rs4.12
billion from Rs4.25 billion last year, said a statement of the company.
The divided was in addition to interim cash dividend of Rs17.50 per
share. Therefore, total divided for the year was calculated at Rs50 per
share, according to the profit and loss account of the company.
The earnings per share stood at Rs59.61 from 61.58 last year.
Net sales of the company rose by 39 percent to Rs176.81 billion from
Rs127.03 billion last year. However, the financing cost increased by 77
percent to Rs1.21 billion from Rs682.66 million.
11. POL earns profits of Rs11.85bn
The profit-after-tax of Pakistan Oilfields Limited increased
by 10 percent to Rs11.85 billion for the year ended June 30
from Rs10.81 billion earnings last year, said a statement on
Monday.
This translated into the earnings per share of Rs50.11 from
Rs45.72 last year, according to the profit and loss account of
the company.
The company announced a final cash dividend of Rs35 per
share. This was in addition to Rs17.50 interim dividend.
Therefore, the cumulative dividend for the year stood at
Rs52.50 per share.
Net sales of the company increased to Rs30.82 billion from
Rs27.10 billion last year. Exploration cost declined by 45
percent to Rs1.07 billion from Rs593.55 million. However,
the financing cost increased by 206 percent to Rs684.57
million from Rs223.93 million.
12. ARL profit rises to Rs2.73bn
Attock Refinery Limited posted a net profit of Rs2.73 billion for
the year ended June 30, which was 25 percent higher than Rs2.18
billion last year, said a statement.
The net profit included profit-after-tax from refinery operations
of Rs1.14 billion and income from non-refinery operations of
Rs1.58 billion during the period under review.
Last year, the company earned Rs1.11 billion from refinery
operations and Rs1.06 billion from non-refinery operations, said
the profit and loss account of the company. Therefore, total
earnings per share stood at Rs32.07 from Rs25.63 last year.
The company also announced a final cash dividend of Rs6 per
share. This was in addition to Rs1.50 per share the company has
already paid to the shareholders The sales of the company surged
by 33 percent to Rs154.38 billion during the period under review
from Rs116.38 billion last year. The financing cost increased by 22
times to Rs994.73 million from Rs45.45 million last year.
13. Fauji Cement earns over half-a-billion profit
Fauji Cement Company Limited reported a profit-after-tax
of Rs552.59 million for the year ended June 30, which was
30 percent higher than Rs425.66 million earned in the
previous year, said a statement issued by the company.
The earnings per share (EPS) were calculated lower at 29
paisas against 52 paisas last year, according to the profit
and loss account of the company available with the Karachi
Stock Exchange.
M Affan Ismail, an analyst at BMA Capital, reported that
EPS diluted in the year under review due to addition of
1,905 million shares. The increase in earnings was primarily
attributable to strong gross margin coupled with improved
sales, he said. Phenomenal surge in cement prices coupled
with meager decline in coal prices resulted in gross margin
growth of nine percentage points to 27 percent.
14. Moreover, the utilisation of additional capacity of 2.1
million tons resulted in higher sales, which further
improved the profits.
The net sales of the company surged by 143 percent to
Rs11.52 billion from Rs4.74 billion last year. However,
financing cost on loan obtained for capacity expansion
kept the earnings under pressure, as the cost
augmented to Rs1.83 billion from Rs103.92 million last
year.