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28/02/2014

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28/02/2014

http://www.moneycontrol.com/news/fii-view/will-depreciating-yuan-take-tollother-asian-currencies_1049051.html

18/12/2013

SINGAPORE TO DEPORT 53 FOREIGN WORKERS AFTER LITTLE INDIA RIOT
Singapore said it will repatriate dozens of foreigners involved in the city’s first riot in more than four decades, as police prepared to end investigations.

The authorities will deport 52 Indians and one Bangladeshi national for their involvement in the riot, Commissioner of Police Ng Joo Hee said in an e-mailed statement yesterday. Separately, a total of 28 individuals have been charged as of yesterday. Charges against seven were dropped.

“We have taken strong and decisive action to charge, and to repatriate those who took part in the riot to send a strong signal that we will not tolerate actions by anyone which threaten law and order in Singapore,” Deputy Prime Minister Teo Chee Hean said in a separate statement.

Prime Minister Lee Hsien Loong has ordered an inquiry into the cause of the riot on the night of Dec. 8 in the Little India district, which draws thousands of foreign laborers. Discontent in Singapore over overseas workers has risen after years of open immigration spurred complaints about congestion and infrastructure strains at a time of widening income inequality.

The police don’t expect to make many more arrests, charges or repatriations in relation to the riot, according to the commissioner. About 200 people will be issued police advisories and allowed to remain and work in Singapore on condition of “good behavior,” Ng sai

18/12/2013

Investors are counting down to the new year with a lot of bullish cheer for the global economy, corporate profits and equities - especially in Europe and Japan, according to a fund manager survey from Bank of America-Merrill Lynch. A net 71 percent of fund managers expect the global economy will strengthen next year, up from November`s 67 percent and far stronger than 40 percent a year ago, the survey found. (Read more: Six reasons why 2014 is the year the economy clicks ) Similarly, 41 percent expect global corporate profits are set to rise in 2014, up from just 11 percent a year ago. All that bullishness has translated into a lot of love for equities, with a net 54 percent of managers overweight on the asset, up from November`s 52 percent, a standard deviation above the 10-year average, the survey found. Eurozone equities may be the biggest beneficiaries, with a net 83 percent of fund managers expecting stronger growth on the continent and a net 43 percent overweight, making it the most preferred equity market for the fourth month running.

A net 71 percent of fund managers expect the global economy will strengthen next year, up from November`s 67 percent and far stronger than 40 percent a year ago, the survey found...

16/12/2013

In financial world, when a norm becomes a benchmark, it can be a game-changer. Take for instance, the increasing acceptance of credit score as one of the tools to gauge the credit repaying discipline of an individual. Such has been the pe*******on of this tool that today it has gone beyond as an integral part of loan approval process of banks. Today, employers in banking and financial services (BFSI) sector have been checking credit score of individuals before hiring them. So, a bad credit score, also known as CIBIL score, can serve as a reason behind rejection of candidates. In Western economies, using credit profile in considering selection of a candidate for a job has been prevalent for quite some time now. There are valid reasons for it. It is a common practice that employers avoid hiring individuals with criminal background due to the possibility of the individuals engaging into criminal activities which may affect the reputation of the employer. However, a bad credit score also has a blemish attached to it. A bad credit score in general is seen as an irresponsible behaviour of an individual. Inability to pay on time reflects that the person is not capable of take care of things. Typically before hiring, credit score checking is a part of the background check of the employee done by the human resource team of the employers. Bad credit score also indicate bad intentions in general. If the credit report of an applicant has mention of settled dues against multiple credit card accounts, such a candidate may be seen as an individual with bad intentions. If the credit report shows that the applicant has very high debt against his name, then such an applicant may not work efficiently. A person in debt trap may not deliver his best in the employment

A bad credit score in general is seen as an irresponsible behaviour of an individual. Inability to pay on time reflects that the person is not capable of take care of things...

10/12/2013

USDINR opened at 60.98 against its previous day close at 61.13. The pair opened down after BJP won state elections in three out of four major states. The Dollar index fell to a five week low tracking a stronger Euro amid expectations of a rebound in the Euro zone after ECB president Mario Draghi refrained from cutting interest rates. Meanwhile, Indian factory output probably shrank in October, hurt mainly by key infrastructure industries cutting production for the first time in eight months. However, other data on Thursday is expected to show retail inflation remained elevated, giving little room for the Reserve Bank of India to support dwindling output. Weak factory production will also be in line with the findings of an HSBC purchasing managers' index (PMI) which showed manufacturing activity contracted for the third straight month in October on dwindling demand.
However, the latest PMI reading showed factory activity returned to growth in November, suggesting a slow recovery in manufacturing may be under way. Annual consumer inflation is expected to just nudge lower to 10.00 percent in November, from 10.09 percent in October.
Meanwhile, Sensex opened in the negative territory and is currently 0.26 percent down.

10/12/2013

CHANDIGARH: UT Administrator Shivraj Patil has accorded approval to the new Information Technology & Electronics Policy 2013 of the Chandigarh Administration. The policy aims to leverage IT & electronics to further boost socio-economic development in the union territory by promoting various e-Governance initiatives, bridging the digital divide and promoting the IT & electronics Industry. With the release of the IT & Electronics Policy, the Chandigarh Administration has joined the ranks of other leading states to have a combined policy for IT & Electronics.

According to the official press release, the policy is ‘expected to lay a strong foundation for a knowledge-based society in Chandigarh by empowering citizens at all levels of society.