Saturday, February 27, 2010
Friday, February 26, 2010
Angel Broking: Various Investment Options | Facebook
Angel Broking: Various Investment Options Facebook:
"Various Investment Options"
There are many investment options which are available in the market today. But, first you need to understand how to start investing and what to invest in.
Equities: Equities are a type of security that represents the ownership in a company. Equities are traded in stock markets. Investing in equities is a good long-term investment option as the returns on equities over a long time horizon are generally higher than most other investment avenues. However, along with the possibility of greater returns comes greater risk.
Mutual funds: A mutual fund allows a group of people to pool their money together and have it professionally managed, in keeping with a predetermined investment objective. Mutual Funds are popular because of its cost-efficiency, risk-diversification, professional management and sound regulation. You can invest as little as Rs 100 per month in a mutual fund.
Bonds: Bonds are fixed income instruments which are issued for the purpose of raising capital. Both private entities, such as companies, financial institutions, and the central or state government and other government institutions use this instrument as a means of garnering funds. Bonds issued by the Government carry the lowest level of risk but could deliver fair returns.
Deposits: Investing in bank or post-office deposits is a very common way of securing surplus funds. These instruments are at the lowest end of the risk-return spectrum.
Real estate: With the ever-increasing cost of land, real estate has emerged as a profitable investment proposition.
Gold: The ‘yellow metal’ is a preferred investment option, particularly when markets are volatile. Today, beyond physical gold, a number of products like gold futures and gold exchange traded funds, which derive their value from the price of gold, are available for investment.
"Various Investment Options"
There are many investment options which are available in the market today. But, first you need to understand how to start investing and what to invest in.
Equities: Equities are a type of security that represents the ownership in a company. Equities are traded in stock markets. Investing in equities is a good long-term investment option as the returns on equities over a long time horizon are generally higher than most other investment avenues. However, along with the possibility of greater returns comes greater risk.
Mutual funds: A mutual fund allows a group of people to pool their money together and have it professionally managed, in keeping with a predetermined investment objective. Mutual Funds are popular because of its cost-efficiency, risk-diversification, professional management and sound regulation. You can invest as little as Rs 100 per month in a mutual fund.
Bonds: Bonds are fixed income instruments which are issued for the purpose of raising capital. Both private entities, such as companies, financial institutions, and the central or state government and other government institutions use this instrument as a means of garnering funds. Bonds issued by the Government carry the lowest level of risk but could deliver fair returns.
Deposits: Investing in bank or post-office deposits is a very common way of securing surplus funds. These instruments are at the lowest end of the risk-return spectrum.
Real estate: With the ever-increasing cost of land, real estate has emerged as a profitable investment proposition.
Gold: The ‘yellow metal’ is a preferred investment option, particularly when markets are volatile. Today, beyond physical gold, a number of products like gold futures and gold exchange traded funds, which derive their value from the price of gold, are available for investment.
Coming Out of the Slump: Increasing Regulation Without Stifling Growth In Europe
Coming Out of the Slump: Increasing Regulation Without Stifling Growth In Europe: "Coming Out of the Slump: Increasing Regulation Without Stifling Growth In Europe"
The financial crash that shook the world in 2008 was centered in Wall Street, but across the Atlantic, Europe has borne a significant chunk of the fallout in the form of a deep recession. In fact, Europe has been even slower than Asia and the US in recovery. Estimated growth in 2010 is expected to be slow, and a number of challenges face the European Union in the process of this recovery.
Overall forecasts for Europe in 2010 are just 0.75% and 1.5% for 2011, compared to 2.6% in 2007. Some of the major challenges in recovery are unemployment, the possibility of sovereign debt default, regulatory changes and the significance of Europe in the world’s economic order. 2009 saw modest recovery towards the end, but this was attributed mainly to the stimulus packages across the continent. This is likely to slack off in the coming year.
Unemployment in Europe is likely to remain at 10% levels till 2011, but Europe still has a chance to regain its prominence in the global economy. However, this will require a unified front from all the members of the EU, a perspective the members have been struggling to achieve. Given the rising dominance of China in the global economy, it will be interesting to see how Europe can relate to the changing scenario.
The current recession and its outcomes are also a cause for concern, especially the higher risk of sovereign debt default in the four members known as the PIGS (Portugal, Italy, Spain and Greece) Economic frailty, political instability and a high level of speculative impact are cause for concern in these states. It is likely that one or more of these may temporarily have to exit the EU to get their finances in order under the IMF regime. However, these are also likely to cause a domino effect in the rest of the European states, especially Ireland and the UK.
The specter of debt default will govern the actions of the European Central Bank (ECB) which will have to keep interests low to ensure there are no defaults. This could in turn encourage inflation, and work as a double-edged sword. The global crisis should heighten European nations’ desire to integrate better in order to counter the United States’ economic clout, and may cause regulatory terms to be tightened. This in turn might lead to companies that can relocate to move away from Europe, which is again a no-win situation for the European Union.
The challenge is therefore to regulate the markets to reduce speculative dealing, and yet retain a positive investment atmosphere to encourage business growth. This involves a tightrope walk for Europe and its fiscal managers. Too much control and capital will flee the continent, as it already has in the case of venture capital funds due to unfavorable laws and red tape. The key, experts believe lies in multinationals being able to capture the benefits of global innovation in Europe as they are in other locations across the world. How Europe builds the right atmosphere for this to happen is the key.
The financial crash that shook the world in 2008 was centered in Wall Street, but across the Atlantic, Europe has borne a significant chunk of the fallout in the form of a deep recession. In fact, Europe has been even slower than Asia and the US in recovery. Estimated growth in 2010 is expected to be slow, and a number of challenges face the European Union in the process of this recovery.
Overall forecasts for Europe in 2010 are just 0.75% and 1.5% for 2011, compared to 2.6% in 2007. Some of the major challenges in recovery are unemployment, the possibility of sovereign debt default, regulatory changes and the significance of Europe in the world’s economic order. 2009 saw modest recovery towards the end, but this was attributed mainly to the stimulus packages across the continent. This is likely to slack off in the coming year.
Unemployment in Europe is likely to remain at 10% levels till 2011, but Europe still has a chance to regain its prominence in the global economy. However, this will require a unified front from all the members of the EU, a perspective the members have been struggling to achieve. Given the rising dominance of China in the global economy, it will be interesting to see how Europe can relate to the changing scenario.
The current recession and its outcomes are also a cause for concern, especially the higher risk of sovereign debt default in the four members known as the PIGS (Portugal, Italy, Spain and Greece) Economic frailty, political instability and a high level of speculative impact are cause for concern in these states. It is likely that one or more of these may temporarily have to exit the EU to get their finances in order under the IMF regime. However, these are also likely to cause a domino effect in the rest of the European states, especially Ireland and the UK.
The specter of debt default will govern the actions of the European Central Bank (ECB) which will have to keep interests low to ensure there are no defaults. This could in turn encourage inflation, and work as a double-edged sword. The global crisis should heighten European nations’ desire to integrate better in order to counter the United States’ economic clout, and may cause regulatory terms to be tightened. This in turn might lead to companies that can relocate to move away from Europe, which is again a no-win situation for the European Union.
The challenge is therefore to regulate the markets to reduce speculative dealing, and yet retain a positive investment atmosphere to encourage business growth. This involves a tightrope walk for Europe and its fiscal managers. Too much control and capital will flee the continent, as it already has in the case of venture capital funds due to unfavorable laws and red tape. The key, experts believe lies in multinationals being able to capture the benefits of global innovation in Europe as they are in other locations across the world. How Europe builds the right atmosphere for this to happen is the key.
Davos Predicts A ‘Fragile’ Recovery
Davos Predicts A ‘Fragile’ Recovery:
"Davos Predicts A ‘Fragile’ Recovery"
The news emerging from the recently ended World Economic Forum at Davos predicts that economic growth in China, India and Brazil will continue to be strong, while that in Japan will and Europe remains negative, and the US will be somewhere in between the two extremes.
However, this is not enough for the world’s business leaders to heave a sigh of relief. Increasing fears of a ‘double dip’ recession and sub-par growth are worrying them, and no-one wants to hazard a guess as to where things are heading, though the consensus is that things are definitely better than last year.
Economists are still not sure if the recession will take the hoped for V pattern, where the rise corresponds to the dip, or the slower U curve. No-one wants the much feared double dip or W pattern of economic progression, but no-one agrees on a single issue. Multiple issues such as looming government-bond defaults by the EU nations and others are giving everyone sleepless nights.
Though production levels are at their highest after August 2004, the main criterion has now shifted to jobs. With unemployment across the US and Europe at a rampant 10% for several months now, the estimated job losses are humungous, and unless a quick rise is seen, the situation will take a long time improving. And the recent hike in production is nothing more than an inventory recovery, not a consumption rise.
Economists argue that the only thing sustaining the world’s economy are the growth figures coming out of Asia, from countries like India and China. However, thanks to the high level of intervention by the Chinese government, experts increasingly fear a real estate bubble building up in China, whose bursting could spark panic in world financial markets, as the Dubai World collapse nearly did.
In the US, the real-estate price drop has slowed down significantly in the residential segment, though the commercial real estate segment continues to worry policy makers and economists alike. The market continues to be flooded by fire-sale homes and a number of real-estate firms are near collapse. According to a recent report, the recent jump in GDP in the final quarter of the year was mainly due to the stimulus program. But how long can the stimulus continue is a question on everyone’s lips. Even to bring down the unemployment rate from 10 to 5% means creating over 10 million jobs, a task that might take till 2013 or 2014.
The next year will appear little different from the past year or so, as recovery continues to be slow and job creation even slower. But another stimulus could overheat the economy causing runaway inflation, a situation the Obama administration would like to avoid. What steps the government takes to move the economy will definitely bear watching in the days to come.
"Davos Predicts A ‘Fragile’ Recovery"
The news emerging from the recently ended World Economic Forum at Davos predicts that economic growth in China, India and Brazil will continue to be strong, while that in Japan will and Europe remains negative, and the US will be somewhere in between the two extremes.
However, this is not enough for the world’s business leaders to heave a sigh of relief. Increasing fears of a ‘double dip’ recession and sub-par growth are worrying them, and no-one wants to hazard a guess as to where things are heading, though the consensus is that things are definitely better than last year.
Economists are still not sure if the recession will take the hoped for V pattern, where the rise corresponds to the dip, or the slower U curve. No-one wants the much feared double dip or W pattern of economic progression, but no-one agrees on a single issue. Multiple issues such as looming government-bond defaults by the EU nations and others are giving everyone sleepless nights.
Though production levels are at their highest after August 2004, the main criterion has now shifted to jobs. With unemployment across the US and Europe at a rampant 10% for several months now, the estimated job losses are humungous, and unless a quick rise is seen, the situation will take a long time improving. And the recent hike in production is nothing more than an inventory recovery, not a consumption rise.
Economists argue that the only thing sustaining the world’s economy are the growth figures coming out of Asia, from countries like India and China. However, thanks to the high level of intervention by the Chinese government, experts increasingly fear a real estate bubble building up in China, whose bursting could spark panic in world financial markets, as the Dubai World collapse nearly did.
In the US, the real-estate price drop has slowed down significantly in the residential segment, though the commercial real estate segment continues to worry policy makers and economists alike. The market continues to be flooded by fire-sale homes and a number of real-estate firms are near collapse. According to a recent report, the recent jump in GDP in the final quarter of the year was mainly due to the stimulus program. But how long can the stimulus continue is a question on everyone’s lips. Even to bring down the unemployment rate from 10 to 5% means creating over 10 million jobs, a task that might take till 2013 or 2014.
The next year will appear little different from the past year or so, as recovery continues to be slow and job creation even slower. But another stimulus could overheat the economy causing runaway inflation, a situation the Obama administration would like to avoid. What steps the government takes to move the economy will definitely bear watching in the days to come.
Bonus Times Are Back For I-Bankers, But Few Willing To Spend Openly
Bonus Times Are Back For I-Bankers, But Few Willing To Spend Openly:
"Bonus Times Are Back For I-Bankers, But Few Willing To Spend Openly"
With the furor over investment bankers and their ‘ill-gotten’ bonuses covering the front page of every major newspaper last year, the bankers kept their wallets firmly shut out of panic and fear of the mobs likely to descend on them should they flash their money around.
But with the recent return of good times in the economy, bonuses are back in even greater numbers this year. The Wall Street set is slowly shaking off its reluctance to spend. However, consumption levels are likely to stay low, as public sentiment is yet to change drastically. More than in past years, this year’s bonus numbers are stirring deep resentment in a nation staggering under 10 percent unemployment.
However, a small group of people are hopeful due to the bonuses being distributed – the purveyors of high end luxury items like real estate and premium automobile marquees. At the heart of Wall Street’s anticipated splurge is pent-up demand after a year dominated by fears of a new depression, retailers and cultural observers say. “For whatever reason, people feel the need to reward themselves for doing something good even if that just means surviving,” said Alexandra Lebenthal, an investment manager and creator of a fictional column about financial high jinks.
At the same time, investment bankers have no intention of felling the wrath of a fed-up populace that blames them for the current bad times. As recently as January 13, the chief executives of the top four banks in the US took a public haranguing in hearings from Congressional leaders, and feelings are not likely to die down just yet. As such, banking bosses are telling their employees to be very careful while spending their money. Ostentatious displays of wealth are to be avoided and to keep them ‘below the radar’ if possible. Real estate in the form of holiday homes, college funds for their kids and investments are seen as good bets, while jewelry, flashy cars and fashion shopping are a definite no-no.
At the same time, however, luxury merchants predict it will take at least five years to return to 2007 spending levels. One reason is that some bankers are getting restricted stock that they won’t be able to sell for years, instead of cash. This is another way that austerity is being imposed by employers on their minions, fearing public opinion. For example, banks that received government injections of funds are not allowed to show their wealth, while private hedge funds that received no such assistance are less reluctant to show off, as they are not indebted to the public for bailing them out of troubled waters.
Even as the Obama administration seeks to change course and pursue the banking community for the current slump, an agenda put aside last year to chase the President’s more ambitious healthcare reforms, people are still angry at the investment banking community for the economic situation. After all, the unemployment rate is still hovering at 10 per cent and job creation is not happening, though the manufacturing sector has bounced back with higher production figures. Ostentatious displays of wealth, which were once considered the right of investment bankers, are now seen as dangerous, though how long this feeling is maintained by the bankers remains to be seen.
"Bonus Times Are Back For I-Bankers, But Few Willing To Spend Openly"
With the furor over investment bankers and their ‘ill-gotten’ bonuses covering the front page of every major newspaper last year, the bankers kept their wallets firmly shut out of panic and fear of the mobs likely to descend on them should they flash their money around.
But with the recent return of good times in the economy, bonuses are back in even greater numbers this year. The Wall Street set is slowly shaking off its reluctance to spend. However, consumption levels are likely to stay low, as public sentiment is yet to change drastically. More than in past years, this year’s bonus numbers are stirring deep resentment in a nation staggering under 10 percent unemployment.
However, a small group of people are hopeful due to the bonuses being distributed – the purveyors of high end luxury items like real estate and premium automobile marquees. At the heart of Wall Street’s anticipated splurge is pent-up demand after a year dominated by fears of a new depression, retailers and cultural observers say. “For whatever reason, people feel the need to reward themselves for doing something good even if that just means surviving,” said Alexandra Lebenthal, an investment manager and creator of a fictional column about financial high jinks.
At the same time, investment bankers have no intention of felling the wrath of a fed-up populace that blames them for the current bad times. As recently as January 13, the chief executives of the top four banks in the US took a public haranguing in hearings from Congressional leaders, and feelings are not likely to die down just yet. As such, banking bosses are telling their employees to be very careful while spending their money. Ostentatious displays of wealth are to be avoided and to keep them ‘below the radar’ if possible. Real estate in the form of holiday homes, college funds for their kids and investments are seen as good bets, while jewelry, flashy cars and fashion shopping are a definite no-no.
At the same time, however, luxury merchants predict it will take at least five years to return to 2007 spending levels. One reason is that some bankers are getting restricted stock that they won’t be able to sell for years, instead of cash. This is another way that austerity is being imposed by employers on their minions, fearing public opinion. For example, banks that received government injections of funds are not allowed to show their wealth, while private hedge funds that received no such assistance are less reluctant to show off, as they are not indebted to the public for bailing them out of troubled waters.
Even as the Obama administration seeks to change course and pursue the banking community for the current slump, an agenda put aside last year to chase the President’s more ambitious healthcare reforms, people are still angry at the investment banking community for the economic situation. After all, the unemployment rate is still hovering at 10 per cent and job creation is not happening, though the manufacturing sector has bounced back with higher production figures. Ostentatious displays of wealth, which were once considered the right of investment bankers, are now seen as dangerous, though how long this feeling is maintained by the bankers remains to be seen.
Will The China Model Sustain Itself In The Long Term?
Will The China Model Sustain Itself In The Long Term?
As any economist will tell you, as the demand for any product or service increases beyond the level at which it can be supplied, the price for it increases. Look at the state of the Indian BPO industry for example. Salary and compensation levels rose rapidly when a number of multinationals were setting up shop in India and there was a huge demand for trained manpower. Today, those same jobs are moving to cheaper and ever more low cost markets like Vietnam. Is this trend likely to continue to the point where China loses its edge completely?
Experts say this is not likely to happen in the short to medium term. China’s population and manufacturing capacity is the prime reason. The world’s most populous country, there is no other country that can raise a workforce the size of China’s, especially not countries like Vietnam. However, the South-east Asian region as a whole could possibly create a significant impact. The other possibility is Africa. This underdeveloped continent has the potential to be the world’s labor pool, if the various sub-groups and regional tribes can get over their internal differences.
Coming back to the point of China’s sustainability, the labor pool and government incentives have been the primary reason that by 2000, the country was a compelling destination for most multinationals. Companies either set up their own operations or used the country’s contract manufacturers. Those that didn’t faced a highly competitive market where the “China Price” held sway over the market, and ranged around one-third to one-half of what it cost manufacturers in the West.
To sustain the 8 to 11 % annual growth, the Chinese government introduced subsidies in fuel and energy generation. With the cap on energy prices, the gap in production costs between China and the rest of the world increased over the last five years. However, the sustainability of this move is now under pressure. In order to maintain the growth rate, apart from subsidies, the government has also artificially maintained the exchange rate of the renminbi. The key issue for Chinese policymakers is to sustain the growth in order to keep the population satisfied. And social unrest is what the government fears most.
However, the government’s gamble has paid off these last two years. However, the subsidies on energy expenses will have a long-term damaging effect. Subsidies have a tendency to encourage inefficiency, and in the long run, this will affect the competitiveness of the Chinese manufacturing industry. Higher cost on the other hand has a short term damaging effect, but makes industries more efficient in the long term.
The strategy for companies already in China revolves around two options. They can either choose to pay the higher wages now being charged or choose to set up new plants in the interior, where the costs in terms of labor are lower and the logistics provide easier access to coal and other raw material sources. And the long term focus will have to shift to efficiency building, something that has been ignored due to the low wage advantage. And the resulting job losses from increased efficiency? These will help the creation of more factories, as well as help the evolution of jobs from low-end manufacturing to more value-added services, as is happening in other places like India.
As any economist will tell you, as the demand for any product or service increases beyond the level at which it can be supplied, the price for it increases. Look at the state of the Indian BPO industry for example. Salary and compensation levels rose rapidly when a number of multinationals were setting up shop in India and there was a huge demand for trained manpower. Today, those same jobs are moving to cheaper and ever more low cost markets like Vietnam. Is this trend likely to continue to the point where China loses its edge completely?
Experts say this is not likely to happen in the short to medium term. China’s population and manufacturing capacity is the prime reason. The world’s most populous country, there is no other country that can raise a workforce the size of China’s, especially not countries like Vietnam. However, the South-east Asian region as a whole could possibly create a significant impact. The other possibility is Africa. This underdeveloped continent has the potential to be the world’s labor pool, if the various sub-groups and regional tribes can get over their internal differences.
Coming back to the point of China’s sustainability, the labor pool and government incentives have been the primary reason that by 2000, the country was a compelling destination for most multinationals. Companies either set up their own operations or used the country’s contract manufacturers. Those that didn’t faced a highly competitive market where the “China Price” held sway over the market, and ranged around one-third to one-half of what it cost manufacturers in the West.
To sustain the 8 to 11 % annual growth, the Chinese government introduced subsidies in fuel and energy generation. With the cap on energy prices, the gap in production costs between China and the rest of the world increased over the last five years. However, the sustainability of this move is now under pressure. In order to maintain the growth rate, apart from subsidies, the government has also artificially maintained the exchange rate of the renminbi. The key issue for Chinese policymakers is to sustain the growth in order to keep the population satisfied. And social unrest is what the government fears most.
However, the government’s gamble has paid off these last two years. However, the subsidies on energy expenses will have a long-term damaging effect. Subsidies have a tendency to encourage inefficiency, and in the long run, this will affect the competitiveness of the Chinese manufacturing industry. Higher cost on the other hand has a short term damaging effect, but makes industries more efficient in the long term.
The strategy for companies already in China revolves around two options. They can either choose to pay the higher wages now being charged or choose to set up new plants in the interior, where the costs in terms of labor are lower and the logistics provide easier access to coal and other raw material sources. And the long term focus will have to shift to efficiency building, something that has been ignored due to the low wage advantage. And the resulting job losses from increased efficiency? These will help the creation of more factories, as well as help the evolution of jobs from low-end manufacturing to more value-added services, as is happening in other places like India.
10 Ways Introverts Can Promote Themselves to Extroverts | Monster
10 Ways Introverts Can Promote Themselves to Extroverts Monster:
"10 Ways Introverts Can Promote Themselves to Extroverts"
I picture myself at the old Algonquin Roundtable with pundits from my circle, and we’re discussing how introverts can promote themselves to Jo(e) Extrovert -- who, incidentally, is busy working the room. Here’s what the pundits say:
• Listen. “Too many people misunderstand what the other person is saying,” says Cathie Black, president of Hearst Magazines. “Speak slowly, have your points, go over them and listen to what the other person says. It’s not just listening to his voice. Watch his body language. If somebody shuts down, you’ll see it on her face. If she’s looking at her BlackBerry or if she interrupts you 16 times, you’ve lost her. You can say things like, ‘Maybe I ought to come back another time. You’re obviously busy, busy, busy.’” Black concludes: “So communication is critical; it’s the sum of the parts -- and it’s not just verbal.”
• Interrupt. I once heard an introvert say that she just wanted to get a pause in edgewise. While it might seem ironic to suggest that you interrupt right after I suggested that you listen, sometimes interrupting is appropriate, and even necessary. Michele Wucker, executive director of the World Policy Institute, tells how she handles her live appearances on national TV as an introvert: “The hardest thing was to learn to interrupt. You’re expected to do it, and it’s entertainment. I just decided that I was going to do it. I kept trying, and then all of a sudden it happened. I really started to enjoy my debates with Pat Buchanan when I could say, ‘Wow! I got the last word in today.’”
• Jump back in when you’ve been interrupted. Extroverts like to talk, and they might even fill in your every pause. It may be a challenge to wedge in a word when talking to Jo(e) Extrovert. You can sit quietly at a meeting with a room full of extroverts, or you can choose to make yourself visible. “You really have to sometimes be firm and point out nicely when someone interrupts you. Smile and say, ‘Why don’t you let me finish this thought, and then you can go?’ Or, ‘I think it’s my turn,’” says Kathleen Waldron, PhD, president of Baruch College, and an outgoing introvert. She adds that using a little humor can go a long way.
• Share what you’re thinking. People can’t see your mind at work, and you won’t get credit for your thoughts if they remain in your head. “Introverts don’t share all that they have available. Just spit it out. I often want to know more. Help me understand what you’re thinking,” says Michael Braunstein, ASA, MAAA, a very extroverted actuary at Aetna Inc. I met Braunstein at a big regional conference of actuaries, where he worked the room as if he were driving a fast convertible and somehow picking up more passengers at every turn.
"10 Ways Introverts Can Promote Themselves to Extroverts"
I picture myself at the old Algonquin Roundtable with pundits from my circle, and we’re discussing how introverts can promote themselves to Jo(e) Extrovert -- who, incidentally, is busy working the room. Here’s what the pundits say:
• Listen. “Too many people misunderstand what the other person is saying,” says Cathie Black, president of Hearst Magazines. “Speak slowly, have your points, go over them and listen to what the other person says. It’s not just listening to his voice. Watch his body language. If somebody shuts down, you’ll see it on her face. If she’s looking at her BlackBerry or if she interrupts you 16 times, you’ve lost her. You can say things like, ‘Maybe I ought to come back another time. You’re obviously busy, busy, busy.’” Black concludes: “So communication is critical; it’s the sum of the parts -- and it’s not just verbal.”
• Interrupt. I once heard an introvert say that she just wanted to get a pause in edgewise. While it might seem ironic to suggest that you interrupt right after I suggested that you listen, sometimes interrupting is appropriate, and even necessary. Michele Wucker, executive director of the World Policy Institute, tells how she handles her live appearances on national TV as an introvert: “The hardest thing was to learn to interrupt. You’re expected to do it, and it’s entertainment. I just decided that I was going to do it. I kept trying, and then all of a sudden it happened. I really started to enjoy my debates with Pat Buchanan when I could say, ‘Wow! I got the last word in today.’”
• Jump back in when you’ve been interrupted. Extroverts like to talk, and they might even fill in your every pause. It may be a challenge to wedge in a word when talking to Jo(e) Extrovert. You can sit quietly at a meeting with a room full of extroverts, or you can choose to make yourself visible. “You really have to sometimes be firm and point out nicely when someone interrupts you. Smile and say, ‘Why don’t you let me finish this thought, and then you can go?’ Or, ‘I think it’s my turn,’” says Kathleen Waldron, PhD, president of Baruch College, and an outgoing introvert. She adds that using a little humor can go a long way.
• Share what you’re thinking. People can’t see your mind at work, and you won’t get credit for your thoughts if they remain in your head. “Introverts don’t share all that they have available. Just spit it out. I often want to know more. Help me understand what you’re thinking,” says Michael Braunstein, ASA, MAAA, a very extroverted actuary at Aetna Inc. I met Braunstein at a big regional conference of actuaries, where he worked the room as if he were driving a fast convertible and somehow picking up more passengers at every turn.
OUTLOOK - Blogs
OUTLOOK - Blogs:
"Banking, Financial Services and Insurance sector (BFSI)
Under Budget 2010, the repayment period of credit availed by farmers has been extended. This could hurt PSU banks having sizeable rural exposure.
There were no comments about hiking foreign partner stake in insurance companies from the current limit to 49 per cent, which industry players expected.
The Budget also proposed more banking licences for NBFCs and private players, which is a positive for companies such as IDFC.
The finance minister proposed to set aside Rs 16,500 crore as minimum 8 per cent tier 1 capital by March 2011. This should be favourable for PSU banks. However, it might also dilute their earnings per share (EPS)."
"Banking, Financial Services and Insurance sector (BFSI)
Under Budget 2010, the repayment period of credit availed by farmers has been extended. This could hurt PSU banks having sizeable rural exposure.
There were no comments about hiking foreign partner stake in insurance companies from the current limit to 49 per cent, which industry players expected.
The Budget also proposed more banking licences for NBFCs and private players, which is a positive for companies such as IDFC.
The finance minister proposed to set aside Rs 16,500 crore as minimum 8 per cent tier 1 capital by March 2011. This should be favourable for PSU banks. However, it might also dilute their earnings per share (EPS)."
Thursday, February 25, 2010
European Investors' Working Group Sets Out Steps to Restore Investor Confidence in European Capital Markets
European Investors' Working Group Sets Out Steps to Restore Investor Confidence in European Capital Markets:
"European Investors' Working Group Sets Out Steps to Restore Investor Confidence in European Capital Markets"Brussels, Belgium, February 23, 2010 – Today the European Investors’ Working Group (EIWG) released "Restoring Investors Confidence in European Capital Markets" (PDF), a report that strives to restore investor confidence in European capital markets by identifying six objectives for EU regulatory reform.
The EIWG is an independent, non-political group, organized by the European Capital Markets Institute (ECMI) in partnership with the CFA Institute Centre for Financial Market Integrity. It is chaired by Fabrice Demarigny, global head of capital markets activities of Mazars group, former secretary general, CESR, and is composed of members from the pan-European retail and institutional investment community.
The report provides a framework of recommendations for the EU regulatory and supervisory agenda from the investor’s perspective. The six objectives of the report are:
Investor protection
Better transparency
Market integrity
Market efficiency
Quality of supervision
Competitiveness of EU markets
In total there are 46 recommendations, from fiduciary duty in the sale of financial products to independence for the new pan-European supervisory authorities.
The EIWG seeks to offer missing investor representation to EU institutions, where currently sell-side interests provide intense input. The EIWG believes that the financial crisis has exposed flaws in professional behavior in some sectors of the financial market. In response, the EIWG urges market participants to practice the ethical principles of responsibility, accountability, and transparency. These are necessary preconditions for restoring investor confidence in the capital markets.
The formation of EIWG reflects the desire to restore economic vitality. Investors are the primary source of funds for capital markets, which provide opportunities for growth and employment in the European economy. The general loss of confidence in the functioning of EU markets and its agents places a restriction on the normal flow of capital, thereby impeding the much sought after economic recovery.
The report calls for:
Investor Protection
The consolidation of investor protection through: the harmonization of rules across the EU; improvements in business conduct standards; better enforcement of best execution; financial literacy; corporate governance; and tighter regulation of sales of financial products, including the creation of a unit with the future European Securities and Markets Authorities (ESMA) to proactively monitor selling practices.
Better Transparency
Transparency driven by: making material information more easily accessible to investors; improving the collection of information by regulators and financial authorities in the area of short selling; disclosure of regulatory information; consolidated solutions for OTC and trading data; and prospectus development.
Market Integrity
Restoring trust through: the adoption of ethical practices; disclosure of conflicts of interest; the national extension of market abuse rules to exchange-regulated markets; the timely disclosure of material information by government institutions; the creation of European emergency rules to suspend trade across markets; harmonization of sanctions across the EU.
Market Efficiency
Improving market efficiency through: the harmonization of market rules for investment products; tackling market fragmentation, consolidating pre- and post-trade data; enhancing cross-border competition; extending (where relevant) MiFID to non-equity markets (OTC, derivatives, and bond markets); restoring confidence in the quality, reliability, and independence or neutral market information such as that provided by credit rating agencies.
Quality of Supervision
The new supervisory architecture enhancements through: increasing the level of investor representation within market participants committees; favoring decisions by majority on financial regulation; binding standards for regulation and the future Rulebook (with opt-outs only due to fundamental differences in the legal systems); the creation of a single set of emergency procedures across Member States; independence of the supervisory bodies.
Competitiveness of EU markets
The avoidance of regulatory and supervisory arbitrage in the areas of: compensation; implementing EU standards; global convergence standards; and the creation of a more competitive framework for: the listing of small- and mid-cap companies; pan-European risk management within firms.
"European Investors' Working Group Sets Out Steps to Restore Investor Confidence in European Capital Markets"Brussels, Belgium, February 23, 2010 – Today the European Investors’ Working Group (EIWG) released "Restoring Investors Confidence in European Capital Markets" (PDF), a report that strives to restore investor confidence in European capital markets by identifying six objectives for EU regulatory reform.
The EIWG is an independent, non-political group, organized by the European Capital Markets Institute (ECMI) in partnership with the CFA Institute Centre for Financial Market Integrity. It is chaired by Fabrice Demarigny, global head of capital markets activities of Mazars group, former secretary general, CESR, and is composed of members from the pan-European retail and institutional investment community.
The report provides a framework of recommendations for the EU regulatory and supervisory agenda from the investor’s perspective. The six objectives of the report are:
Investor protection
Better transparency
Market integrity
Market efficiency
Quality of supervision
Competitiveness of EU markets
In total there are 46 recommendations, from fiduciary duty in the sale of financial products to independence for the new pan-European supervisory authorities.
The EIWG seeks to offer missing investor representation to EU institutions, where currently sell-side interests provide intense input. The EIWG believes that the financial crisis has exposed flaws in professional behavior in some sectors of the financial market. In response, the EIWG urges market participants to practice the ethical principles of responsibility, accountability, and transparency. These are necessary preconditions for restoring investor confidence in the capital markets.
The formation of EIWG reflects the desire to restore economic vitality. Investors are the primary source of funds for capital markets, which provide opportunities for growth and employment in the European economy. The general loss of confidence in the functioning of EU markets and its agents places a restriction on the normal flow of capital, thereby impeding the much sought after economic recovery.
The report calls for:
Investor Protection
The consolidation of investor protection through: the harmonization of rules across the EU; improvements in business conduct standards; better enforcement of best execution; financial literacy; corporate governance; and tighter regulation of sales of financial products, including the creation of a unit with the future European Securities and Markets Authorities (ESMA) to proactively monitor selling practices.
Better Transparency
Transparency driven by: making material information more easily accessible to investors; improving the collection of information by regulators and financial authorities in the area of short selling; disclosure of regulatory information; consolidated solutions for OTC and trading data; and prospectus development.
Market Integrity
Restoring trust through: the adoption of ethical practices; disclosure of conflicts of interest; the national extension of market abuse rules to exchange-regulated markets; the timely disclosure of material information by government institutions; the creation of European emergency rules to suspend trade across markets; harmonization of sanctions across the EU.
Market Efficiency
Improving market efficiency through: the harmonization of market rules for investment products; tackling market fragmentation, consolidating pre- and post-trade data; enhancing cross-border competition; extending (where relevant) MiFID to non-equity markets (OTC, derivatives, and bond markets); restoring confidence in the quality, reliability, and independence or neutral market information such as that provided by credit rating agencies.
Quality of Supervision
The new supervisory architecture enhancements through: increasing the level of investor representation within market participants committees; favoring decisions by majority on financial regulation; binding standards for regulation and the future Rulebook (with opt-outs only due to fundamental differences in the legal systems); the creation of a single set of emergency procedures across Member States; independence of the supervisory bodies.
Competitiveness of EU markets
The avoidance of regulatory and supervisory arbitrage in the areas of: compensation; implementing EU standards; global convergence standards; and the creation of a more competitive framework for: the listing of small- and mid-cap companies; pan-European risk management within firms.
Wednesday, February 24, 2010
Relax FDI in insurance, banking: Survey
Relax FDI in insurance, banking: Survey:
"The Economic Survey 2009-10 today made out a strong case for liberalising foreign direct investment policies for health insurance, rural banking and higher education, stating FDI can boost trade in services." "In the case of services sector, a more conducive environment can be created by liberalising FDI in services like health insurance, rural banking and higher education as FDI inflows and trade in services have a close relationship," the Survey said.
"Well thought out policy measures would give a boost to the services sector," it said.Expediting auction of high speed third generation telecom technology, removing 10-year disinvestment clause on FDI in insurance and liberalising the foreign investment in the animation sector are the key suggestions of the document, tabled in Parliament by the government a day before the Union Budget.It also called for encouraging venture capital in services and exemption of external commercial borrowings from the withholding tax for financing export-related activities and overseas acquisitions.The Survey said that with pick up in export of software and increase in foreign tourist arrivals, the country's services exports are expected to grow in the current fiscal, even as it contracted in April-September 2009-10.With improvement in exports of software and transportation and increase in foreign exchange earnings from tourism, the Survey said, "Services exports are expected to grow in 2009-10, though at a relatively slower pace."
Software exports, including those from BPO services have shown a recovery after a negative growth in the first half of 2009-10.
However, the expansion in software services would be tepid at 5 per cent in 2009-10.
The impact of the global recession was visible on India's services exports as they contracted by 21.4 per cent in the first half of 2009-10 compared to high growth of 27.6 per cent in the year ago period.
India's services exports reached $102 billion in 2008-09, a growth of 12.5 per cent over the previous year.
Similarly, with increase in global and India's trade, transportation exports, which were impacted in the first half of the year, are also expected to pick up, the Survey said.
Receipts under business and professional services are also expected to be higher, the Survey said. Also foreign tourists arrivals increased 21 per cent in December 2009 over the same month last year.
"Given the trend, travel receipts are also expected to improve in the remaining period of the year," it said.
"The Economic Survey 2009-10 today made out a strong case for liberalising foreign direct investment policies for health insurance, rural banking and higher education, stating FDI can boost trade in services." "In the case of services sector, a more conducive environment can be created by liberalising FDI in services like health insurance, rural banking and higher education as FDI inflows and trade in services have a close relationship," the Survey said.
"Well thought out policy measures would give a boost to the services sector," it said.Expediting auction of high speed third generation telecom technology, removing 10-year disinvestment clause on FDI in insurance and liberalising the foreign investment in the animation sector are the key suggestions of the document, tabled in Parliament by the government a day before the Union Budget.It also called for encouraging venture capital in services and exemption of external commercial borrowings from the withholding tax for financing export-related activities and overseas acquisitions.The Survey said that with pick up in export of software and increase in foreign tourist arrivals, the country's services exports are expected to grow in the current fiscal, even as it contracted in April-September 2009-10.With improvement in exports of software and transportation and increase in foreign exchange earnings from tourism, the Survey said, "Services exports are expected to grow in 2009-10, though at a relatively slower pace."
Software exports, including those from BPO services have shown a recovery after a negative growth in the first half of 2009-10.
However, the expansion in software services would be tepid at 5 per cent in 2009-10.
The impact of the global recession was visible on India's services exports as they contracted by 21.4 per cent in the first half of 2009-10 compared to high growth of 27.6 per cent in the year ago period.
India's services exports reached $102 billion in 2008-09, a growth of 12.5 per cent over the previous year.
Similarly, with increase in global and India's trade, transportation exports, which were impacted in the first half of the year, are also expected to pick up, the Survey said.
Receipts under business and professional services are also expected to be higher, the Survey said. Also foreign tourists arrivals increased 21 per cent in December 2009 over the same month last year.
"Given the trend, travel receipts are also expected to improve in the remaining period of the year," it said.
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