September 2013
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Finance And Pakistan Pose Twin Challenges For Zimbabwe

This morning they were on the brink of being part of the first forfeited Test series, with the Zimbabwe players considering a boycott over unpaid salaries. Fortunately, the worst-case scenario has been avoided : Zimbabwe confirmed on Monday afternoon that they will take the field in Harare, with Zimbabwe Cricket saying it is working on clearing its dues before the second Test, which begins in Bulawayo on September 10. If the money is not transferred before then and the players stand their ground in Bulawayo, there will be a bonus of sorts: Zimbabwe will qualify for the ICC's Test rankings after the Harare Test, having finally played the requisite number of games for the first time since their return to Test cricket in August 2011 after more than five years of self-imposed exile. And, irrespective of the series scoreline, they'll return in some style, straightaway leapfrogging Bangladesh to No. 9. That said, Zimbabwe's troubles are likely to spill over onto the field. In Pakistan they face an opponent whose batsmen are best suited to the gentle pace of the long format and bowlers include potent pacers and arguably the best spinner in world cricket today. The hosts, on the other hand, come into the series with - in their coach's words - a concern about "how are we going to get 20 wickets" and an unsettled opening combination.

RELATED NEW DELHI: There seems to be no let up in the show of BJP's sympathy for President Pranab Mukherjee in view of the suggestion from certain quarters that some of the decisions he took as finance minister between 2009 and 20011 contributed to the worsening of the fiscal deficit. BJP leaders on Friday expressed solidarity with the President in view of what they called "unfair insinuation" that his decisions worsened the fiscal deficit, when they called upon him in connection with their demand for early polls. Sources in the BJP said the expression of support led Mukherjee to say that the fiscal expansion being ascribed to him, in fact, predated his tenure in the finance ministry, adding that former finance minister Yashwant Sinha would bear him out. The BJP delegation, comprising party veteran L K Advani, leaders of opposition Sushma Swaraj and Arun Jaitley and former party chief M Venkaiah Naidu, Sinha and others, broached the topic soon after the principal opposition had taken up cudgels for the President in Rajya Sabha. Coming out in support of the President, Jaitley had objected to the blame for the jump in fiscal deficit being heaped upon those "who are not here to defend themselves", stressing that the gap between government's spending and income started widening in 2007 when the government launched schemes as part of Congress's preparations for 2009 polls. On Friday, former finance minister Sinha strongly supported the President's purported contention that the expansion of fiscal deficit was a reality before he took charge of the finance ministry. Recalling that Mukherjee moved into the finance ministry on January 24, 2009, Sinha stressed that the two supplementary demands - in October and January 2008 had resulted in a net cash outgo of Rs 147,000 crore.

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Real-world Applications Of Behavioral Finance

The NCD issue has 11 investment options and effective yield of up to 12.55 per cent per annum with an option for early closure, Muthoot Finance said in a statement. The NCD issue aims at aggregating up to Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore, it said. Muthoot Finance, is one of the largest gold financing company in India, with a market share of over 20 per cent as of March 31, 2012. The entity has 4,163 branches and employs about 24,945 people. Story first published on: September 02, 2013 22:55 (IST)

Both DFM and NASDAQ Dubai have been active in the push to bolster the Islamic financial services sector. In January, the DFM released new draft standards for the structuring of sukuks, calling for industry comments. The hope is that new regulations, if adopted more broadly, would attract investors to the emirate. Bahrain and Malaysia have both built up their positions in the Islamic finance sector in part by establishing regulatory regimes that are now influential worldwide. Then in May, NASDAQ Dubai announced it was adding a platform that would allow trading of both Islamic and conventional bonds. The new system is expected to boost transparency and liquidity, as prices of NASDAQ Dubai-listed bonds will now be visible to all investors at the same time.

Most of their suggestions are complements to traditional quantitative methods of evaluating investments. Although some behavioral finance biases are hard to correct, here are two easy strategies to help you become more rational: Find a partner: Investors should consult partners or objective parties so that they can talk through their investments. Objective parties can help better assess risk and might not be affected by the same biases. Keep track of investments: Investors should keep track of the investments they make as well as the investments they do not make. By keeping track of investments, investors might be able to identify their illogical tendencies. While behavioral finance can be used to minimize investors mistakes, it can also be used to take advantage of others missteps.

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Finance Chairman Set To Take Helm Of Nh Senate

He said New Hampshire has to determine if it is in the state's best interest to expand the program and, if so, how. "I think we should have what works for New Hampshire. If that's nothing, so be it. I don't know that yet," he said. At Bragdon's insistence, a special Medicaid expansion study commission was established as a compromise in the First Financial budget debate. Democratic Gov. Maggie Hassan and the Democrat-led House wanted to authorize Medicaid expansion in the budget bill, but the Republican-led Senate insisted on establishing a commission to study the issue first.

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Mideast Money-islamic Finance Down, Not Out In Post-mursi Egypt

The image of political Islam has been severely damaged in the eyes of many Egyptians by Mursi's troubled year in office and his weak management of the economy. But long-term demand for Islamic financial services has not necessarily changed. Only around 10 or 15 percent of Egyptians use formal banking services, analysts estimate; this implies great potential for growth in both conventional and Islamic finance, and sharia-compliant banking could be a way to draw many people into the formal financial system. Abdel Rahman Al Kafrawi, head of Islamic transactions at Principal Bank for Development and Agricultural Credit (PBDAC), said he had noticed no negative impact since July on business at the 18 PBDAC branches offering Islamic finance. The state-run bank, which caters to Egyptian farmers, launched sharia-compliant retail banking earlier this year, setting aside an initial 50 million Egyptian pounds ($7.1 million) to provide financing for the purchase of durable goods, agricultural equipment and education fees. "Such needs never cease to exist regardless of politics or macroeconomics, and hence no negative impact has been felt or is expected," he said. SUKUK Mursi's government fought a six-month battle to pass a law clearing the way for sovereign sukuk issues, overcoming a bitter controversy over the use of state-owned assets to back sukuk. Officials then talked of Egypt making a debut international issue of Islamic bonds this year, and of raising $10 billion a year by selling sukuk.

Finance chairman set to take helm of NH Senate

Photo / Brett Phibbs A former director of failed Gisborne finance firm Rockforte has pleaded guilty to nine fraud charges. Rockforte Finance was placed into receivership in May 2010, calling on the Crown Retail Deposit Guarantee Scheme to repay $3.2 million to 77 mum-and-dad investors. Receivers said in December last year that the Government was likely to recover less than 3c in the dollar and unsecured creditors - owed $234,070.67 - were likely to get nothing back. After a 13-month investigation the Serious Fraud Office laid 92 charges against three men involved with the company. One of the men, 52-year-old former banker Colin Mark Simpson has pleaded guilty to nine charges, including those for theft by a person in a special relationship, obtaining by deception, and false statement by promoter. Some of these charges have a maximum penalty of ten years in First Financial jail and Simpson will appear in the High Court at Gisborne for sentencing on 26 September. Two other Rockforte directors, Nigel Brent O'Leary and John Patrick Gardner, are due to go to trial later this month. The SFO alleges the men allegedly used a "significant portion" of investors' money to fund their own personal business interest in Gisborne Haulage and Michael Ward 1969, which operated the Jean Jones womenswear label throughout New Zealand.

Finance boss pleads guilty to fraud charges

"There's no text book on how to run the Senate presidency," he said. He doesn't expect to make many changes but wants to talk to people after Tuesday's vote about issues including whether New Hampshire should expand Medicaid to an estimated 49,000 poor adults and where to find revenue for highway improvements. Morse was a co-sponsor of a casino gambling bill this year that earmarked some funding for highway improvements. The bill passed the Senate but died in the House. The House instead passed a bill phasing in an increase in the gas and diesel tax for road fixes. "I'm still totally opposed to the gas tax. I think it will stall the economy," Morse said. That could affect Sen. Jim Rausch 's plan to file legislation raising the gas tax to pay for highway improvements.

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