A general take on the Modi-phenomenon that has swept the stock markets! With structural changes finally being implemented by the new government we can expect a decade of massive growth. First uploaded as an Instablog on SeekingAlpha in September
A general take on the Modi-phenomenon that has swept the stock markets! With structural changes finally being implemented by the new government we can expect a decade of massive growth. First uploaded as an Instablog on SeekingAlpha in September
At a roundtable in London, Global Finance brought together key figures
in the subcustody industry to discuss how they are responding to the
many challenges posed by the eurozone crisis, the failure of MF Global,
regulation and the need to expand into new markets and products.
Adapting my business - Cómo evaluar la información climática en una empresa -...Factor CO2
Bernd Eggen. Formerly senior climate change consultant, UK Met Office ofreció esta ponencia dentro del evento "Adapting my business" organizado por Factor CO2 y celebrado el 7 de junio en Casa América, Madrid
Presentation on Web Standards and Open DataAmber Case
An introduction to Open Data and Standards for @tylersticka's Web Standard's Class at Portland Art Institute. Given by @caseorganic and @aaronpk.
Syllabus: <a>www.scribd.com/doc/33970016/AiPd-WDIM268-Summer-2010-Syll...</a>
The class was comprised of 22 Art Institute students, most of which are Web Design & Interactive Media majors. The prerequisites for the class were intro to HTML and CSS classes, and most of the students were level 200 (sophomores), and a few seniors.
The World This Week - 03rd Aug to 08th Aug, 2015
As expected rates were kept unchanged in the RBI credit policy last week but the tone of the policy along with macro economic factors suggest that there could be a chance of rate cut in the next credit policy which is due on 29th September or even before that. The only concern is distribution of monsoon which is very uneven so if monsoon plays out properly then the rates may be cut. The change witnessed from previous credit policy to this one is the probability of another rate cut happening in this calendar year has increased from 50% to 75%. There would be certain consequences of a rate cut. Sectors which would benefit are stable businesses like Auto, Private Banks, and NBFC etc. Sectors like infrastructure, manufacturing, high capital intensive business which are facing problems of raising capital, inadequate profitability etc would still struggle despite a rate cut. Know
News:
DOMESTIC MACRO:
India's total external debt rose by $29.5 bn, or 6.6%, to $475.8 bn at the end of March 2015, mainly due to increase in external commercial borrowings and NRI deposits.
Fifteen states sign a memorandum of agreement (MoA) with the Ministry of Housing & Urban Poverty Alleviation for ‘housing for all’ mission in urban areas.
According to RBI’s annual report, the central bank remains focused on bringing down consumer inflation to its target of 4% by March 2018.
India to auction 20 major iron ore mines to revive industry.
GLOBAL MACRO
EURO
UK GDP rose by 2.6% annually in Q2 2015, compared to 2.9% in Q1.
UK GfK consumer confidence index jumped to 7 in August from 4 in July.
United States
US economy expanded 3.7% in Q2, higher than the previous estimate of 2.3%, and 0.6% growth in the first quarter.
US consumer spending increased 0.3% in July after an upwardly revised 0.3% rise in June while the personal income rose by 0.4% in July, matching the increase seen in the previous month.
US pending home sales index increased 0.5% after a revised 1.7% decline in June.
China
China’s industrial profits fell 2.9% year on year in July, sharply down from the 0.3% decline posted in June.
Similar to The World This Week May 12, 2014 - May 17, 2014 (20)
Introduction of GST in the Rajya Sabha has significance because it could have been passed in the Lok Sabha also. However, Rajya Sabha is where the government does not have majority and since it’s a constitutional amendment that requires two thirds majority, convincing all the parties is a key milestone and to that extent, introduction and subsequent passage of the bill in the Rajya Sabha will be important.
•Earnings Data for 8 core industries including mining, infrastructure and electricity was received which indicated a growth by 5.2% which augers well. However, one needs to see if this is a onetime occurrence or will it continue. Also, since rainfall was moderate, by the end of July, rural consumption is expected to be strong. To that extent, GDP is likely to grow anywhere between 7.5-8% this year. The government’s earlier projections in the budget carry an upward bias.
Dear Investors,
The month of July has seen the heavens literally open their doors and shower their blessings on us. After a late start in June, the monsoon picked up
smartly and the country as a whole received abundant rainfall, bringing cheer to one and all and definitely a sense of relief. The same good cheer
seems to have percolated to the global equity markets as well. Having brushed off the Brexit issue, markets have continued their upward move
relentlessly through the month of July. The US benchmark index, the S&P 500 hit a new lifetime high earlier in the month on the back of good jobs
data and an optimistic view of growth in the US economy. Not wanting to be left out in any way, the Nifty set a new 52-week high and the Sensex
scaled 28,000.
The quarterly results have been a mixed bag so far. While there have been more hits than misses, the IT sector as a whole and some pharma
companies have been the major pockets of underperformance. Most of the private sector retail banks and NBFCs have shown a stellar performance,
while growth in public sector banks was stagnant due to liquidity and NPA issues. In the consumer space, lower costs have added to the profits of
several companies, but revenue growth and volume growth were disappointing. There is hope that these will see a significant pick up in the second
half of the financial year once the benefits of the 7th Pay Commission and a good monsoon kick in.
Global bond yields are at historical lows which mean global bond prices have rallied across developed markets while S&P 500 is close to its historical high. This by itself is a dichotomy as bond prices and equity prices are not expected to rally together at the same point. Either of the two has to be true.
•Bond prices and yields are inversely related therefore, bond prices rally when yields and interest rates are expected to be low. Interest rates are expected to be low because growth prospects are low. This would entail the central banks to cut rates and because the demand for credits will be low due to the low growth prospects, the yields are expected to be low which explains the rally in bond prices. Considering this, the rally in the equity markets is not possible as there is no expectation for growth. This is the dichotomy that the global world is at particularly in the developed markets. In the light of the current scenario, either of the two has to give in i.e. either bond prices correct leading to normalcy in yields or equity markets give in.
Dear Investors,
Billionaire investor Wilbur Ross said "Ultimately, I think it will be the world's most expensive divorce. But like most divorces, it's probably going to take a lot longer than it should." The Brexit vote to leave the European Union sent shock waves across the globe. Though the pre-poll surveys had indicated a close call, it was largely expected that sanity would prevail on referendum day and the British populace would vote to Remain. The ramifications of an eventual Brexit are likely to be long-drawn and far-reaching. Apart from the impact it has had on the currency markets, there is an imminent danger of other countries wanting to follow suit. This may lead to the ultimate breakdown of the EU, causing geo-political chaos with the danger of recession.
The equity markets seemed to have temporarily shrugged off the event. While the Sensex tanked by over 1000 points when the Brexit result was declared, it has since recovered all its losses and closed the month of June at a YTD high of almost 27,000. Though there may be individual stocks and sectors where revenues are likely to be directly impacted, the market as a whole has shown significant resilience, waiting as it were for Britain to formally initiate the process of exit before assessing its overall impact.
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.
BREXIT
What is Brexit?
-Brexit is a combination of the words, ‘Britain’ and ‘exit’
-It refers to the EU referendum, a vote that took place on June 23, 2016 to decide Britain’s membership with the European Union
-The official question voters were asked was: ‘Should the United Kingdom remain a member of the European Union or leave the European Union?’
The EU Referendum Verdict
Factors responsible for Brexit
-High unemployment
-Increased migration
-Threat of terrorism
-2008 financial cash
-High EU membership fees
Immediate impacts of Brexit
- Fall in bond markets
- Crude oil tumbled to 5%
- Gold jumped to around 5%
-Sharp fall in Pound to $1.3229
- High volatility in JPY and EUR
-Major equity indices lost 2-10%
Why India will survive Brexit?
-Lower crude oil prices
-Enviable macro environment
-Overhauling in banking sector
-Favourable monsoon forecasts
-Stable government focussed on reforms
Aftermath of Brexit
- Divide in EU countries
- Exports likely to be hit
- Second referendum in Scotland
- Slower economic growth in long term
- Border control issues with Northern Ireland
- Increase in populist movements seeking referendums
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
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The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
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Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
2. Equity View:
The election results surprised the markets last Friday, with the extent of majority with which the NDA
won. It was witnessed by a big move in Nifty on the same day which cooled off during the second half.
Overall, a lot has changed and we are hopeful of a new bull run when the economy will slowly be on the
mend. We expect a lot of reform measures to be announced over the course of next few months and this
should lead to some revival in the broader economy. The biggest and the most crucial thing is resumption
of the investment cycle.
There is a fair bit of ground for optimism on the equity side however there are caveats to growth linked
to the actions taken by the new government. There are things that the government needs to do before
we can call it a reforms oriented government like, some reforms on the ground which would indicate that
infrastructure is going to be revived. However, some part of this growth story is not entirely in the hands
of the government – most importantly the monetary policy and the interest rates. If the interest rates
remain high, growth would come from limited quarter of revival of stalled projects while if the same falls,
there would be additional Phillip to growth from investments picking up as well. Last week the WPI
number was released which came at 5.2, slightly lower than expectation however, which could cool off
the immediate concerns about rate hike.
If the government actually acts responsibly and maintains its fiscal discipline by cutting down subsidies
and wasteful expenditure, the room for monetary policy is much larger. So if the RBI believes that the
government will rein in the fiscal deficit through the year, it might be little more enthusiastic about
cutting rates. The monsoon also as predicted is not good thus in the short term, the view is cautious on
fundamentals not necessarily capital markets. The improvement in fundamentals of economy might be
moderate but to its response, the equity markets might witness a sharp uptake as visible in our target
expectations. Our 3-year outlook remains bullish.
As we had mentioned earlier with respect to the pre-election rally and its quantum, the markets rallied
~17.6% in the hopes and optimism of better governance. The growth this year is expected to be around
5.5-6% which will lead to nominal GDP growth of 13-14%. We also foresee the earnings growth of 14-15%
for whole of the year which will be a significant revival as compared to last few years. Based on the
overall scenario we have arrived at the new Sensex target of 38,500 for the next 3 years. As the economy
revives we expect earnings growth to be 15% CAGR for the next 2-3 years. We would expect the Sensex
returns to be of similar order as earnings growth. Another important point is that Midcaps have been
beaten down so much that Midcap index is still not back to its own high of 2008 thus there is a significant
upside in this space. Looking at the valuations and its outperformance over Nifty, it will be prudent to
expect 20-25% returns in Midcaps. Gamma as our strategy has consistently outperformed the Midcap
index by 10% in the last 3 years. Hence our returns expectation from the midcap space would be
extremely high.
In terms of sectors, we continue to like the top banking ideas in the private sector and select PSUs.
NBFCs, Housing finance companies and consumer finance companies are also expected to do well. We
continue to like select infrastructure ideas like some of the top companies in construction and
infrastructure space. We do not expect any revival on the ground in terms of earnings for most of these
infrastructure companies but as the economic environment eases, more approvals, clearances and
3. projects take off, we would believe that this space would benefit. It is just that infrastructure space takes
time to revive, and hence there might be a lag of 2-3 quarters in terms of actual improvement in result. IT
and pharma have taken a bit of beating in short term but considering the fact that their earnings growth
trajectory remains extremely robust, we would continue to look at the sectors favorably and there is no
reason to completely sell these off from the portfolio.
News:
DOMESTIC MACRO:
Inflation in India measured by the Wholesale Price Index (WPI) eases to 5.2% in April following a rise to
5.70% in March.
Industry body CII expects that a stable government could help the economy recover to 6.5% GDP growth
rate in 2014 -15 as against an estimated 4.9% in 2013-14.
Ratings agency Standard & Poor's expects the new Indian government’s reform initiatives in economic and
fiscal policies in the next two to three months may have significant implications on the sovereign credit
rating on India.
RBI data shows India’s foreign exchange reserves rose by $1.97 bn for the week ending May 9 to $313.83
bn.
Central Board of Excise and Customs raises the base import price of gold by $2 to $424 per 10 gm.
GLOBAL MACRO
EURO
Euro zone GDP increased at an annualized pace of 0.9% in Q1 2014 after expanding at a rate of 0.5%
in the previous quarter.
Bank of England in its Inflation Report for May says that the UK economy continues to strengthen,
but more slack needs to be absorbed before a rate increase is implemented.
UK ILO jobless rate declined to 6.8% during January to March, the lowest since February 2009, from
7.2% in October to December
United States
US consumer price growth accelerated annually to 2.0% in April from 1.5% in March, representing the
biggest increase since last July.
US Initial claims for unemployment benefits fell by 24,000 to a seasonally adjusted 297,000 in the
week ended May 10.
China
China's April retail sales were up 11.9% year-on-year, down from a 12.2% rise in March.
5. Varun Goel Jharna Agarwal
Nupur Gupta Ridhdhi Chheda
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