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... On behalf of the Board of Directors, it gives me great pleasure to present the annual report of Ithmaar Bank and its subsidiaries, associates and joint ventures for the year ended 31 December 2008. It was a challenging year that might well be remembered as the year of the global financial meltdown. ...
... On behalf of the Board of Directors, it gives me great pleasure to present the annual report of Ithmaar Bank and its subsidiaries, associates and joint ventures for the year ended 31 December 2008. It was a challenging year that might well be remembered as the year of the global financial meltdown. ...
Indian Rupee - Nirmal Bang
... We expect INR to weaken further against USD…: Based on our real exchange rate model, we found out that even if INR, in nominal terms, weakens 3.6% to an average 67.5 against USD in FY17, bilateral real exchange rate (RER) will remain unchanged. This is primarily because the inflation differential (b ...
... We expect INR to weaken further against USD…: Based on our real exchange rate model, we found out that even if INR, in nominal terms, weakens 3.6% to an average 67.5 against USD in FY17, bilateral real exchange rate (RER) will remain unchanged. This is primarily because the inflation differential (b ...
Engineering Economics - Inside Mines
... The acceptance or rejection of a project based on the IRR criterion is made by comparing the calculated rate with the required rate of return, or cutoff rate established by the firm. If the IRR exceeds the required rate the project should be accepted; if not, it should be rejected. If the required r ...
... The acceptance or rejection of a project based on the IRR criterion is made by comparing the calculated rate with the required rate of return, or cutoff rate established by the firm. If the IRR exceeds the required rate the project should be accepted; if not, it should be rejected. If the required r ...
The Effect of Credit Risk on Stock Returns
... might contain a high degree of noise what lowers the explanatory value of FF3. Another explanation is that other explanatory variables than SMB and HML are becoming more relevant during economic downturns and therefore the relevance of SMB and HML decreases during those periods. C. O. Kang and H. G. ...
... might contain a high degree of noise what lowers the explanatory value of FF3. Another explanation is that other explanatory variables than SMB and HML are becoming more relevant during economic downturns and therefore the relevance of SMB and HML decreases during those periods. C. O. Kang and H. G. ...
Chapter 1
... Foreign subsidiary capital structure, continued – Political risk management • The use of financing to reduce political risks typically involves mechanisms to avoid or reduce the impact of certain risks, such as those related to exchange controls or expropriation. – By raising funds locally, if a sub ...
... Foreign subsidiary capital structure, continued – Political risk management • The use of financing to reduce political risks typically involves mechanisms to avoid or reduce the impact of certain risks, such as those related to exchange controls or expropriation. – By raising funds locally, if a sub ...
FM10 Ch 5 - Bryon Gaskin
... maturities have different risk. General view (supported by most evidence) is that lenders prefer S-T securities, and view L-T securities as riskier. Thus, investors demand a MRP to get them to hold L-T securities (i.e., MRP ...
... maturities have different risk. General view (supported by most evidence) is that lenders prefer S-T securities, and view L-T securities as riskier. Thus, investors demand a MRP to get them to hold L-T securities (i.e., MRP ...
FREE Sample Here
... (3) In monopolistically competitive markets, a large number of relatively small firms produce differentiated products without any barriers to entry. (4) In oligopoly markets, there are only a few firms whose profits are interdependent—each firm’s decisions about pricing, output, advertising, and so ...
... (3) In monopolistically competitive markets, a large number of relatively small firms produce differentiated products without any barriers to entry. (4) In oligopoly markets, there are only a few firms whose profits are interdependent—each firm’s decisions about pricing, output, advertising, and so ...
Management of Transaction Exposure
... AS DISCUSSED in Chapter 12, transaction exposure arises when a firm faces contractual cash flows that are fixed in a foreign currency. For example, suppose that CHC Helicopters of St John’s, Newfoundland, a world leader in supply logistics to offshore oil rigs, has billed British Petroleum (BP) for ...
... AS DISCUSSED in Chapter 12, transaction exposure arises when a firm faces contractual cash flows that are fixed in a foreign currency. For example, suppose that CHC Helicopters of St John’s, Newfoundland, a world leader in supply logistics to offshore oil rigs, has billed British Petroleum (BP) for ...
Bonds
... The purpose of money market is for warehousing funds for short term; while the purpose of capital market is for long term investment; Original maturity is greater than one year, typically for long-term financing or ...
... The purpose of money market is for warehousing funds for short term; while the purpose of capital market is for long term investment; Original maturity is greater than one year, typically for long-term financing or ...
Asset Allocation and Diversification
... Asset Allocation and Diversification Aim to get the right eggs in the right baskets. Asset Allocation is a term that describes how much money you have invested in each of the main investment asset classes; Cash and Fixed Income/ Interest, Property and Shares/Equities. How you decide to split your in ...
... Asset Allocation and Diversification Aim to get the right eggs in the right baskets. Asset Allocation is a term that describes how much money you have invested in each of the main investment asset classes; Cash and Fixed Income/ Interest, Property and Shares/Equities. How you decide to split your in ...
Why We Should Never Pay Down the National Debt
... receipts and temporarily increased income support payments. In March 2012, gross federal debt was approximately $15.5 trillion, while the debt held by the public (which includes all lenders, foreign and domestic, as well as the Federal Reserve System), was approximately $10.8 trillion,31 or about 70 ...
... receipts and temporarily increased income support payments. In March 2012, gross federal debt was approximately $15.5 trillion, while the debt held by the public (which includes all lenders, foreign and domestic, as well as the Federal Reserve System), was approximately $10.8 trillion,31 or about 70 ...
Gibraltar International Business Hub
... Gibraltar not only benefits from a legal system inherited from the United Kingdom, but is home to a unique mix of cultures at a strategic meeting point of civilizations. The Rock, as it is commonly known, is an economic powerhouse in its own right, founded on financial services, e-commerce communica ...
... Gibraltar not only benefits from a legal system inherited from the United Kingdom, but is home to a unique mix of cultures at a strategic meeting point of civilizations. The Rock, as it is commonly known, is an economic powerhouse in its own right, founded on financial services, e-commerce communica ...
Microfinance Consensus Guidelines: Definitions of Selected
... Non-operating revenue.* All revenue not directly related to core microfinance operations, such as revenue from business development services, training, or the sale of merchandise. Donations and revenues from grants may also be considered non-operating revenue, but it is recommended that they be incl ...
... Non-operating revenue.* All revenue not directly related to core microfinance operations, such as revenue from business development services, training, or the sale of merchandise. Donations and revenues from grants may also be considered non-operating revenue, but it is recommended that they be incl ...
S025358_en.pdf
... Financial liberalization took the form of rapidly expanding financial flows among mature economies and, later on, between them and developing economies. The other interrelated facets of this process were: (i) the rapid growth of international financial markets and wealth; and (ii) a striking increas ...
... Financial liberalization took the form of rapidly expanding financial flows among mature economies and, later on, between them and developing economies. The other interrelated facets of this process were: (i) the rapid growth of international financial markets and wealth; and (ii) a striking increas ...
PDF
... interest rates, wage rates and exchange rates. Monthly income and expected inflation data had to be proxied. For income, we used monthly government expenditures, since the government is a major employer and therefore an important source of income. The use of government expenditures to estimate the d ...
... interest rates, wage rates and exchange rates. Monthly income and expected inflation data had to be proxied. For income, we used monthly government expenditures, since the government is a major employer and therefore an important source of income. The use of government expenditures to estimate the d ...
Our Portfolio Management Portfolios
... The views expressed herein are those of the author and do not necessarily reflect the views of Morgan Stanley Wealth Management or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase ...
... The views expressed herein are those of the author and do not necessarily reflect the views of Morgan Stanley Wealth Management or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase ...
DOC
... unemployment grew to 10.2 % in October 2009, fell to 10.0 % in November and showed the same value also in December. Overcoming of recession was helped by consumption growth thanks to government stimuli including tax cuts. Optimism returned to stock markets, Dow-Jones Index grew by some 55 % as compa ...
... unemployment grew to 10.2 % in October 2009, fell to 10.0 % in November and showed the same value also in December. Overcoming of recession was helped by consumption growth thanks to government stimuli including tax cuts. Optimism returned to stock markets, Dow-Jones Index grew by some 55 % as compa ...
Balancing the Banks: Global Lessons from the Financial Crisis
... This rationale for prudential regulation—the lack of expertise and the wastefulness associated with monitoring of balance sheets by retail depositors—explains why prudential regulation is also observed for other institutions with small, dispersed debtholders such as insurance companies and pension f ...
... This rationale for prudential regulation—the lack of expertise and the wastefulness associated with monitoring of balance sheets by retail depositors—explains why prudential regulation is also observed for other institutions with small, dispersed debtholders such as insurance companies and pension f ...
Determination of Rate of Return
... reliable sources like Bloomberg. The Pakistan CDS as of January 2016 was 5.92%. This rate needs to be adjusted to US CDS rate of 0.39% to get a pure Pakistan default rate of 5.53%. Some analyst argues that 5.53% is the default associated with Pakistan foreign debt obligation. Equity market on the ot ...
... reliable sources like Bloomberg. The Pakistan CDS as of January 2016 was 5.92%. This rate needs to be adjusted to US CDS rate of 0.39% to get a pure Pakistan default rate of 5.53%. Some analyst argues that 5.53% is the default associated with Pakistan foreign debt obligation. Equity market on the ot ...
Options on Fed funds futures and interst rate volatity
... options listing, is also evident in stocks without options. So, it is not surprising that options listings lead to lower volatility. Another potential problem with options listings studies is that they do not control for market-wide decline in volatility around the time when options are listed. Lamo ...
... options listing, is also evident in stocks without options. So, it is not surprising that options listings lead to lower volatility. Another potential problem with options listings studies is that they do not control for market-wide decline in volatility around the time when options are listed. Lamo ...
PDF
... consequence of the process of creative destruction. However, non-publicly traded firms in industries without such competitive pressures have also experienced large numbers of mergers and acquisitions (see figure I), so their cause remains an open question. In particular, cooperatives present a uniqu ...
... consequence of the process of creative destruction. However, non-publicly traded firms in industries without such competitive pressures have also experienced large numbers of mergers and acquisitions (see figure I), so their cause remains an open question. In particular, cooperatives present a uniqu ...
Maturity and interest
... One reason to immunize is active bond management. The bonds you find attractively priced cannot be made to cash flow match your obligation. Consider a company that has issued a GIC. Based on analysis of various securities in the fixed income market, it chooses to fund the obligation with 3year zeros ...
... One reason to immunize is active bond management. The bonds you find attractively priced cannot be made to cash flow match your obligation. Consider a company that has issued a GIC. Based on analysis of various securities in the fixed income market, it chooses to fund the obligation with 3year zeros ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.