Inflation: March 2014
|
|
- Austin Holt
- 6 years ago
- Views:
Transcription
1 April 15, 2014 Ecnmics Reversing its dwnward trend, the annual rate f inflatin as measured by the Whlesale Price Index (WPI) rse t 5.7% fr the mnth f March This figure is significantly higher than the inflatin rate recrded in the last three mnths but is in line with CARE s wn expectatin f an increase in WPI in March 2014 (5.42% was CARE s frecast) as the falling vegetable prices were expected t bttm ut juxtapsed with agriculture entering its seasnal trugh. Mirrring the trend in WPI, CPI fr the mnth f March 14 rse t 8.31% cmpared with 8.1% in February 14. This CPI inflatin f 8.3% cmes largely in tandem with CARE s frecast f 8.5%. Althugh CPI fr March 14 stands much lwer than the crrespnding inflatin rate in March 13, the rise cmpared t the previus mnth reverses the dwnward trend it fllwed fr the last three mnths. Whlesale Price Index (WPI) The table belw prvides a snapsht f WPI inflatin at terminal pints f FY13 and FY14 and als the average inflatin in the last tw fiscal years. Table 1: WPI inflatin (y--y %) Terminal Average Mar-13 Mar-14 FY13 FY14 - Primary articles Fd articles Nn fd articles Fuel and Pwer Manufactured prducts WPI Surce: MOSPI WPI at terminal pints WPI inflatin fr all cmmdities turned arund in March 14 t stand at 5.7% which is slightly higher than that in the crrespnding mnth f the previus year. Primary articles basket witnessed a marginal increase in inflatin frm 7.4% in March 13 t 7.7% in March 14. Within the primary article basket, inflatin in fd articles rse t 9.9% in March 14 cmpared with 8.6% inflatin in March 13. Owing t seasnal factrs, fd prices tend 1
2 t start an upward trajectry frm the mnth f March nwards. This is reflected in the abve data as fd articles edged up frm 8.12% in February 14 t 9.9% in March Mre particularly, vegetable inflatin sared t 8.57% in March 14 as ppsed t the -1.68% inflatin it recrded in March 13. Fruits als marked a sharp rise in inflatin at 16.15% cmpared with 5.67% in the crrespnding mnth in FY13. - Inflatin in cereals, rice, wheat and pulses declined n a year ver year basis. - Egg, Meat and fish inflatin als fell in March 14 ver March 13. Hwever, the rise in fd inflatin was ffset t a substantial extent by the fall in inflatin in the nn fd articles cmpnent f primary articles. Inflatin here slwed dwn significantly frm 9.3% in March 13 t 4.6% in March 14. This is als a further cntractin frm the 5.1% inflatin recrded in February There was a marked decline in inflatin in the tw majr cmpnents f nn fd articles: Fibres and il seeds. Inflatin in the frmer reduced t 8.80% frm 12.58% and in the latter frm 19.73% t 1.17%. - Inflatin in minerals rse marginally in March 14 but remained negative. Fuel and pwer inflatin which has been n the higher end ver the last six mnths rse t 11.2% in March 14 as ppsed t 7.8% in the crrespnding mnth f the previus year. This is the highest inflatin rate fr the industry in the last six mnths. Inflatin in manufactured prducts has drpped t 3.2% in March 14 frm 4.3% in March 13. This is reflective f the fact that the manufacturing sectr has had arguably a slack run in FY14. On the psitive side, the figure f 3.2% fr March 14 is higher than the annual average f 2.9% fr FY14. Average Inflatin Inspite f the high WPI inflatin which persisted fr the larger part f FY14, the average WPI inflatin fr FY14 stands much lwer at 5.92% as ppsed t the 7.36% f inflatin in FY13. Average inflatin in primary articles remains unchanged at 9.9% in FY14 vis-à-vis 9.8% in FY13. Hwever, there is a significant divergence within the tw cmpnents f primary articles. Inflatin in fd articles has escalated t 12.8% in FY14 cmpared with 9.9% in FY13 and inflatin in nn fd articles has decelerated t 5.6% frm 10.6% it averaged in FY13. Fuel and pwer inflatin n average has fallen nly marginally t 10.1% frm 10.4%. Average inflatin in manufactured prducts reduced sharply frm 5.4% in FY13 t 2.9% in FY14. This further reiterates the apparent slwdwn f the manufacturing sectr in the cuntry. Trend in FY14 The WPI path fr the larger part f FY14 can be divided int tw distinct trends (excluding the terminal mnths). WPI fell marginally in May 13 t 4.58% frm 4.77% in April 13. 2
3 Hwever, WPI inched upwards frm June 13 nwards driven primarily by the munting vegetable and fd prices. It reached the zenith in Nvember 14 at 7.52% due t the extremely high inflatin in fd articles (19.69%). Cntinuus rep hikes by the RBI since September 13 eventually seeped thrugh t the ecnmy even as fd prices began t turnarund. This facilitated the WPI t slide dwn t 6.2% in December 13 fllwing a cntinuus rise fr 6 mnths. WPI then cntinued declining upt 4.68% in February 14. WPI inflatin eventually turned arund in March 14 t rise t 5.7% as the fall in prices f vegetables ceased t cntinue any further. Cnsumer Price Index (CPI) The table belw gives an verview f CPI inflatin March ver March and the average in FY13 and FY14. Table 2: CPI inflatin (y--y %) Terminal Average Mar-13 Mar-14 FY13 FY14 - Fd, beverages and tbacc Fuel and light Clthing, bedding and ftwear CPI Surce: CSO CPI at terminal pints CPI stands significantly lwer in March 14 at 8.3% when juxtapsed t the 10.4% inflatin in March 13. There is a visible reductin in fd, beverages and tbacc inflatin frm 12.3% in March 13 t 9.1% in March 14. Hwever, this is still higher than the inflatin f 8.6% in February Similar t WPI, vegetables and fruits prices are respnsible fr this rise with the frmer rising by 16.8% in March 14 cmpared with 14.0% in Feb 14 and latter by 19.2% vis-à-vis an inflatin f 15.8% in the previus mnth. - There was als a rise in prices f pulses and prducts (4.5%) and milk and milk prducts (11.0%). Inflatin in fuel and light appears t have mderated sharply t 6.3% in March 14 frm 8.3% in the crrespnding mnth f the previus fiscal. Hwever, cmpared t February 14, inflatin in fuel and light has risen marginally (6.13% in Feb 14) Clthing, bedding and ftwear witnessed a fall in prices frm 10.4% in March 13 t 8.3% in March 14. It even stands lwer than 3.22% inflatin in February 14. 3
4 It was seen that smaller states f Ga, Mizram, Nagaland, Chhattisgarh, Assam, Meghalaya, Bihar, Jharkhand, Himachal Pradesh recrded inflatin abve the natinal average f 8.3% in March 2014 (y--y %). Whereas, the larger states f Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Tamil Nadu Delhi etc were belw the natinal average inflatin. Tripura recrded the highest inflatin at 18% and Manipur was the lwest at 4.8%. Average CPI inflatin The average CPI inflatin has mderated t 9.2% in FY14 cmpared with 10.2% in FY13. Average inflatin in fd, beverages etc slwed dwn marginally t 11.1% Average inflatin in fuel and light reduced t 7.4% frm 8.6% in FY13. Inflatin in clthing, ftwear and bedding industry als fell t 9.35 cmpared with 10.9% in FY13. CARE s utlk fr FY15 With the nset f Fiscal 15, there appear t be certain upside risks t inflatin. A majr threat being the pssible El Nin effects in the event f which, mnsn might remain depleted in This will in turn affect agricultural prduce, thereby raising pressure n fd prices. Hence, it appears as if fd prices might remain a cncern in FY15. Any rise in fd inflatin will impact the CPI t that effect as well. Fuel prices are expected t remain stable (assuming glbal prices d nt change) cntingent n the decisin f the new gvernment regarding pricing f fuel (Diesel and LPG). Further, India being a fuel imprting cuntry, any untward mvement in the exchange rate will als affect the fuel prices. Prices f manufactured gds are frecast t pick up mderately in due curse in FY15 given that the IMF has prjected psitive grwth fr the develped ecnmies as it wuld translate int an increase in demand fr manufactured gds frm emerging ecnmies. This effect hwever might be limited. In light f the abve mentined cncerns, CARE frecasts WPI inflatin t be in the range f 5.5-6% in the cming mnths with a bias twards the upper bund in case f a mnsn failure r shrtfall. Likewise, CPI inflatin wuld remain vulnerable t the mnsn mvements and may be expected t be range bund arund 8% in the next tw mnths as the rabi crp flws in. RBI has als indicated in its latest plicy annuncement that inflatin might begin t rise ging ahead and has hence exercised a cautinary apprach which is likely t cntinue. 4
5 Cntact: Madan Sabnavis Garima Mehta Chief Ecnmist Assciate Ecnmist Disclaimer This reprt is prepared by the Ecnmics Divisin f Credit Analysis &Research Limited [CARE]. CARE has taken utmst care t ensure accuracy and bjectivity while develping this reprt based n infrmatin available in public dmain. Hwever, neither the accuracy nr cmpleteness f infrmatin cntained in this reprt is guaranteed. CARE is nt respnsible fr any errrs r missins in analysis/inferences/views r fr results btained frm the use f infrmatin cntained in this reprt and especially states that CARE (including all divisins) has n financial liability whatsever t the user f this reprt. 5
PRESS RELEASE Brussels, 13 th October 2016
PRESS RELEASE Brussels, 13 th Octber 2016 Harmnised index f cnsumer prices - September 2016 Belgium's inflatin rate based n the Eurpean harmnised index f cnsumer prices was running at 1.8% in September,
More informationPRESS RELEASE Brussels, 13 th October 2017
PRESS RELEASE Brussels, 13 th Octber 2017 Harmnised index f cnsumer prices - September 2017 Belgium's inflatin rate based n the Eurpean harmnised index f cnsumer prices amunted t 2.0 % in September, just
More informationOBSERVATION. TD Economics THE PRODIGAL SURPLUS IS RETURNED SOME HIGHLIGHTS FROM THE NOVEMBER 2014 FEDERAL FISCAL UPDATE
OBSERVATION TD Ecnmics THE PRODIGAL SURPLUS IS RETURNED SOME HIGHLIGHTS FROM THE NOVEMBER 2014 FEDERAL FISCAL UPDATE Highlights With an electin year lming, the release f the federal fiscal update has prvided
More informationMajor economic developments and outlooks
1 Majr ecnmic develpments and utlks 1) Thailand s ecnmic grwth was firmer than expected, mainly frm strength in dmestic demand especially private investment ) Exprts shw signs f bttming ut and are pised
More informationEconomics Chapter 12: ECONOMIC CHANGES AND CYCLES
Ecnmics Chapter 12: ECONOMIC CHANGES AND CYCLES SECTION 1 Inflatin and Deflatin What Is Inflatin? Inflatin is an in the level, r the average level f prices. Hw D We Measure Inflatin? If the price level
More informationEconomic Survey: FY18
Ecnmic Survey: FY18 Cntact: Madan Sabnavis Chief Ecnmist madan.sabnavis@careratings.cm 91-22-67543489 Kavita Chack Senir Ecnmist kavita.chack@careratings.cm 91-22-67543687 Dr. Rucha Ranadive Assciate Ecnmist
More informationH Results Presentation 9 May 2018
H1 2018 Results Presentatin 9 May 2018 Disclaimer This dcument has been prepared by Cmpañía de Distribución Integral Lgista Hldings, S. A. ( Lgista Hldings r the Cmpany ) fr infrmatin purpses, and des
More informationTourism Development Fund ( TDF ) Guidelines for Grant Applicants
Turism Develpment Fund ( TDF ) Guidelines fr Grant Applicants Cntents 1. Abut the TDF 2. Applicant Eligibility 3. Grant Assessment Criteria 4. Business Plans & Accunts 5. Applicatin Prcedures 6. Agreements
More informationExtract from Economic and Structural Report
Extract frm Ecnmic and Structural Reprt Swedbank s analysis f the internatinal and Swedish ecnmies 14 August 2008 A stressed glbal ecnmy is slwing Swedish grwth Due t the prtracted financial crisis, high
More informationSound Management of Electronic Wastes in North America Operating Year(s):
2011 2012 Operatinal Plan Prject Descriptin Sund Management f Electrnic Wastes in Nrth America Operating Year(s): 2011 2012 Planned Budget: C$400,000.00 2011: C$165,000.00 2012: C$235,000.00 Strategic
More informationClient Advisory. Pension Changes Proposed: Federal Funding and Investment Rules. Proposed Funding Rules. Summary
Client Advisry Pensin Changes Prpsed: Federal Funding and Investment Rules May 7, 2010 Summary On May 3, 2010, the Federal Minister f Finance (Finance) released Regulatins Amending Certain Regulatins Made
More informationCost Estimate for Bill C-364: An Act to amend the Canada Elections Act and to make a consequential amendment to another Act (political financing)
Cst Estimate fr Bill C-364: An Act t amend the Canada Electins Act and t make a cnsequential amendment t anther Act (plitical financing) Ottawa, Canada 30 January 2018 www.pb-dpb.gc.ca The Parliamentary
More informationEconomic Activity Chapter 2
Ecnmic Activity Chapter 2 Sectin 2.1 Measuring Ecnmic Activity Ecnmic Grwth: steady increase f gds and services Grss Dmestic Prduct (GDP): Ttal value f all final gds and services prduced in the cuntry
More informationLECTURE NOTES. Chapter 2: Measurement of Macroeconomic Variables. 1. The National Income Accounts
LECTURE NOTES Chapter 2: Measurement f Macrecnmic Variables 1. The Natinal Incme Accunts Natinal accunts: (1) prductin side and (2) incme side Incme side measures the prceeds f the prductin side. Prductin
More informationCalifornia Water Service Group First-Quarter 2018 Earnings Call Presentation
Califrnia Water Service Grup First-Quarter 2018 Earnings Call Presentatin April 26, 2018 Frward-Lking Statements This presentatin cntains frward-lking statements within the meaning established by the Private
More informationSuriname today and its small and medium enterprises. February 2013
Suriname tday and its small and medium enterprises February 2013 Grwth and inflatin Slid grwth despite glbal financial turmil and limited glbal demand. Grwth supprted by buyant mining sectr. Inflatin pressures
More informationDynamic Pricing Mechanism
Dynamic Pricing Mechanism 1G Ethanl 00 Ethanl Blended Petrl (EBP) Prgramme At 10% blending with petrl, 280 crre litres f Ethanl required. Last year requirement was 266 crre litres Supplies were 111 crre
More informationGoldman Sachs Motif Aging of America Dynamic Balance Index
INDEX INFORMATION Blmberg Ticker GSMOAADB RIC.GSMOAADB Index Spnsr Gldman, Sachs & C. Currency USD Number f Underliers Maximum 3 Assets Daily Vlatility Cap 5.00% Daily Vlatility Target 5.00% Calculatin
More informationI-SEM Project Managers Group (PMG) 12 April 2018 Key Notes, Actions & Decisions
I-SEM Prject Managers Grup (PMG) 12 April 2018 Key Ntes, Actins & Decisins Meeting Details Meeting Purpse Lcatin Chair Secretariat I-SEM Prject Managers Grup (PMG) EirGrid, Dublin - Cnference Call Simn
More informationEC161 - Group Assignment with Individual Components
2011 2012 EC161 - Grup Assignment with Individual Cmpnents Egan, Jasn (11817875) Questin B Firini, Mayra Maia (11841746) Questin C Tzilalis, Antnis (11822308) Questin A Business Management with Finance
More informationUsing Accrual Data in GFS
Using Accrual Data in GFS Gabriel Quirs Deputy Directr Statistics Department March 6, 2017 Reprductins f this material, r any parts f it, shuld refer t the as the surce. Outline Hw GFS Methdlgy develped
More informationPRESS RELEASE. The Hellenic Statistical Authority (ELSTAT) announces the Gross Domestic Product (GDP) for the 4 th quarter of 2017 (provisional data).
HELLENIC REPUBLIC HELLENIC STATISTICAL AUTHORITY Piraeus, March 5, 2018 PRESS RELEASE QUARTERLY NATIONAL ACCOUNTS 4 th Quarter 2017/4 th Quarter 2016: +1.9 (Prvisinal data, seasnally adjusted in vlume
More informationKCA Deutag Alpha Limited ( KCA Deutag or the Group ) Results for the three months ended 31 March 2018
Fr immediate release KCA Deutag Alpha Limited ( KCA Deutag r the Grup ) Results fr the three mnths ended 31 March 2018 KCA Deutag, ne f the wrld s leading drilling and engineering cntractrs, is pleased
More informationLPFA Monthly Solvency Report as at 31 July 2018 Preliminary Month End Data
LPFA Mnthly Slvency Reprt as at 31 July 2018 Preliminary Mnth End Data Purpse and summary This reprt is prepared fr the LPFA Bard. It prvides an up t date estimate f funding level and sets ut an analysis
More informationAn Analysis of the Business Roundtable s Survey on Over-the-Counter Derivatives
An Analysis f the Business Rundtable s Survey n Over-the-Cunter Derivatives Prepared Fr: Business Rundtable Prepared Fr: Keybridge Research April 14, 2010 K E Y B R I D G E R E S E A R C H LLC 3050 K S
More informationAGENDA DOCKET FORM. Ronald D. Jacobsma Assistant General Manager
.. ~ CONTRA COST A WATER DISTRICT -- AGENDA DOCKET FORM Agenda Item N. 7 Meeting Date: September 19, 2018 Reslutin: N SUBJECT: 2019 RATE REVIEW ASSUMPTIONS SUMMARY: The District s Rate Setting Plicy (Attachment
More informationRISK INFORMATION CHURCHES CHURCH RISK MANAGEMENT
The infrmatin prvided in this paper is intended t assist church staff in develpment f suitable Risk Management prcesses. Intrductin t Risk Management Risk is the expsure t the pssibility f such things
More informationLecture # Cost-Benefit Analysis
Lecture # 23 -- Cst-Benefit Analysis I. Intrductin t Cst-Benefit Analysis (CBA) Public fficials ften use cst-benefit analysis t decide whether a prject is wrthwhile. Cst-benefit analysis can be used t
More informationNo Signals of Removing "Patient" Key takeaways from the January 28th FOMC meeting minutes 1 :
Surprisingly Dvish Minutes The January 28 th FOMC meeting minutes revealed a decisively mre Dvish sunding FOMC than many market participants had expected. Giving n signal the Cmmittee is ready t back away
More informationUSG PRESENTATION. Launch of the Flagship Report Wednesday, 19 July :30-16:30 at the Bhutan Mission
USG PRESENTATION Launch f the Flagship Reprt Wednesday, 19 July 2017 15:30-16:30 at the Bhutan Missin H.E. Mr. Masud Bin Mmem, Permanent Representative f Bangladesh and Chair f the LDC Grup, Mr. Karma
More informationApproval Process and Arrangements for University Consultancy Work
Apprval Prcess and Arrangements fr University Cnsultancy Wrk 1 Intrductin Cnsultancy activities can be separated int tw types: thse undertaken in City s name (University cnsultancy) and thse undertaken
More informationInterim Economic Assessment
Interim Ecnmic Assessment September Mderate glbal grwth is set t cntinue, but weak demand in the eur area remains a cncern The glbal ecnmy is cntinuing t expand at a mderate and uneven pace. The tepid
More informationOur path to long term value
Over the past three years, we have transfrmed Eni int a leaner and mre resilient cmpany. We have built a high margin prtfli cnsisting f a large number f mature prjects, which will secure ur prductin grwth
More informationAirwork Holdings Limited 2017 Annual Results Presentation. August 2017
Airwrk Hldings Limited 2017 Annual Results Presentatin August 2017 IMPORTANT NOTICE This presentatin cntains nt nly a review f peratins, but als sme frward lking statements abut Airwrk Hldings Limited
More information"HE CHAIRMAN OF THE COUNCIL OF ECONOM'C ADVISERS WASHINGTON
"HE CHAIRMAN OF THE COUNCIL OF ECONOM'C ADVISERS WASHINGTON March 14, 1978 MEMORANDUM FOR THE PRESIDENT FROM: Charlie Schultze G *- 0 SUBJECT: Backgrund n Inflatin Develpments f the past 4 r 5 mnths have
More information2017 PERFORMANCE SHARE AND STOCK OPTION PLANS
INFORMATION 2017 PERFORMANCE SHARE AND STOCK OPTION PLANS The Bard f Directrs f L Air Liquide at its meeting n September 20, 2017 adpted the 2017 perfrmance share and stck ptin plans which are aimed, abve
More informationAn Analysis of the Coalition for Derivatives End- Users Survey on Over-the-Counter Derivatives
An Analysis f the Calitin fr Derivatives End- Users Survey n Over-the-Cunter Derivatives Prepared Fr: Calitin fr Derivatives End-Users Prepared By: Keybridge Research February 11, 2011 K E Y B R I D G
More informationVOLUMETRIC PRODUCTION PAYMENTS. Liz McGinley
VOLUMETRIC PRODUCTION PAYMENTS Liz McGinley What is a Vlumetric Prductin Payment ( VPP )? A nn-perating, nn-expense bearing, limited term ryalty. It entitles the hlder t a specified vlume f hydrcarbns
More informationState Government Borrowing: April September 2015
November 5, 2015 Economics State Government Borrowing: April September 2015 State Development Loans (SDL) are debt issued by state governments to fund their fiscal deficit. States in India like the centre,
More informationVELAN INC. REPORTS ITS THIRD QUARTER 2018/19 FINANCIAL RESULTS
Velan Inc. 7007 Côte de Liesse, Mntreal, QC H4T 1G2 Canada Tel: (514) 748-7743 Fax: (514) 748-8635 www.velan.cm PRESS RELEASE FOR IMMEDIATE RELEASE Fr further infrmatin please cntact: Yves Leduc, President
More informationGist of Economic Survey [Chapter 3]: Investment and Saving Slowdowns and Recoveries: Cross-Country Insights for India
Gist f Ecnmic Survey 2017-18 [Chapter 3]: Investment and Saving Slwdwns and Recveries: Crss-Cuntry Insights fr India INTRODUCTION Since 2010, there is ne questin: hw sn will the Indian ecnmy revert t 8-10
More informationNBG Group Q3 Results 2016 PRESS RELEASE. NBG Group: Q3.16 results highlights
NBG Grup Q Results 06 PRESS RELEASE NBG Grup: Q.6 results highlights NPEs stck declines by.9bn ytd Reflecting favurable curing trends and write ffs, the dmestic NPE stck drps sharply fr a secnd cnsecutive
More informationSummary Prospectus July 31, 2018
AlphaMark Actively Managed Small Cap ETF TRADING SYMBOL: SMCP LISTED ON NASDAQ Summary Prspectus July 31, 2018 www.alphamarkadvisrs.cm Befre yu invest, yu may want t review the AlphaMark Actively Managed
More informationRE: SUBMISSION TO INFRASTRUCTURE VICTORIA S LAYING THE FOUNDATIONS PAPER
16 March 2016 Michel Massn Chief Executive Infrastructure Victria Level 34, 121 Exhibitin Street Melburne, VIC 3000 Dear Mr Massn, RE: SUBMISSION TO INFRASTRUCTURE VICTORIA S LAYING THE FOUNDATIONS PAPER
More informationCity of Turlock Fiscal Impact Analysis Tool User Manual
City f Turlck Fiscal Impact Analysis Tl User Manual CONTENTS INTRODUCTION TO FISCAL IMPACT ANALYSIS (FIA) TOOL... 1 1. Purpse f the FIA Tl... 1 2. General Assumptins... 1 3. Cmpnents... 2 STEP 1 DEFINE
More informationRumo ALL. South Operation
Rum 3Q16 Results Rum Disclaimer 2 This presentatin includes estimates and frward-lking statements regarding ur strategy and future grwth pprtunities. This infrmatin is based mainly n ur current expectatins
More informationLECTURE NOTES. Chapter 14: Exchange Rates and International Monetary System. 1. The U.S. Balance of Payments Accounts
LECTURE NOTES Chapter 14: Exchange Rates and Internatinal Mnetary System 1. The U.S. Balance f Payments Accunts Balance f payment accunts: recrds ecnmic transactins between the U.S. and freign residents
More informationOJSC DETSKY MIR INCREASED NET INCOME BY 7.2% TO RUB 657 MLN FOR 9 MONTHS 2015
OJSC DETSKY MIR INCREASED NET INCOME BY 7.2% TO RUB 657 MLN FOR 9 MONTHS 2015 18 Nvember 2015. Russia, Mscw. OJSC Detsky Mir (hereinafter referred t as "Detsky Mir" r "the Cmpany"), Russia's largest children's
More informationWelcome Supplier Information Session
Welcme Supplier Infrmatin Sessin July 2016 Philip Tracy Chairman Agenda 1. 2015-16 seasn and Milk Supply Supprt Package recap 2. 2016-17 seasn initiatives 3. Applying the Prfit Sharing Mechanism 4. Impact
More informationThe UK Register of Trusts 21 December 2017
The UK Register f Trusts 21 December 2017 If yu are a trustee f a UK resident trust r f a nn-resident trust which has UK assets r UK surce incme yu may need t take actin befre 5 January 2018. Backgrund
More informationFinancial Statement Analysis, (FIN-621)
Lessn-5 ACCOUNTING CYCLE/PROCESS (Cntinued) Preparing Balance Sheet frm Trial Balance: We have assumed that the first mnth i.e. July was taken up in setting up f the business and n business activity as
More informationConsumer Buy to Let Mortgage
Cnsumer Buy t Let Mrtgage What is it? Cnsumer buy-t-let (CBTL) mrtgages are any buy-t-let cntracts that are nt entered int by an individual whlly r predminantly fr the purpse f a business. They are usually
More informationHEPI VS. CPI - Making Them Both Work for You
HEPI VS. CPI - Making Them Bth Wrk fr Yu HEPI and the Cnsumer Price Index are bth useful tls fr measuring inflatin but they have t be used apprpriately: HEPI is useful as an verall measure f inflatin affecting
More informationThe Effect of China s Preferential Trade Agreements on Energy Trade
The Effect f China s Preferential Trade Agreements n Energy Trade Tarek Atalla, Carl Andrea Bllin, Philipp Galkin 40th IAEE Internatinal Cnference, "Meeting the Energy Demands f Emerging Ecnmies: Implicatins
More informationINVESTMENT POLICY STATEMENT
Paul Shiptn CIM Prtfli Manager HllisWealth Omar Duric BBA CIM DMS FMA Prtfli Manager HllisWealth INVESTMENT POLICY STATEMENT DISCRETIONARY PORTFOLIO MANAGEMENT Investment Plicy Statement 1. Purpse f the
More informationTOPIC 12: PART 1 WAYS OF GATHERING AUDIT EVIDENCE
TOPIC 12: PART 1 WAYS OF GATHERING AUDIT EVIDENCE ISA 500 is the relevant auditing standard fr audit evidence. 7 basic ways fr the auditr t gather audit evidence thrughut the audit prcess: 1. Observatin
More informationAgenda Item: For information. Primary Care Commissioning Report (September 2016/West Norfolk CCG)
Agenda Item: 16.19 Fr infrmatin Title f Reprt: Reprt Submitted by: Primary Care Cmmissining Reprt (September 2016/West Nrflk CCG) Andrea Patman Head f Cmmissining NHS England- Midlands and East -East Purpse:
More informationWorkshop Implementation Efficiency of ELD Brussels, 10 July Background Paper
Wrkshp Implementatin Efficiency f ELD Brussels, 10 July 2009 Backgrund Paper THIS PAPER IS WORK IN PROGRESS 1. INTRODUCTION BIO Intelligence Service (BIO IS) currently carries ut a study n The Implementatin
More informationNo. 78/2000. Thailand s International Investment Position and Revision of External Debts
N. 78/2000 Thailand s Internatinal Investment Psitin and Revisin f External Debts Fllwing the Bank f Thailand's press release dated Friday, 23 June 2000 that the Bank f Thailand is making imprvements in
More informationCuts dressed as integrity: a haphazard approach to funding innovation
Cuts dressed as integrity: a haphazard apprach t funding innvatin Last night s Budget cntains inexplicable cuts t the R&D Tax Incentive prgram, which cmbined with ther key Budget measures will have a negative
More informationSuperannuation contributions tax ruling Tax deductibility of superannuation contributions
July 2011 Technical Bulletin Superannuatin cntributins tax ruling Tax deductibility f superannuatin cntributins Wh is impacted? As a result f tax ruling 2010/1 yur clients can n lnger claim a tax deductin
More informationCEO & CFO on FY13 Outlook
13 February 2013 CEO & CFO n FY13 Outlk Open Briefing interview with and CFO Rustm Jilla Ansell Limited Level 3 678 Victria Street Richmnd VIC 3121 In this Open Briefing, Magnus and Rustm discuss: Active
More informationChapter 11. Financial Planning and. forecasting Chapter 11
Chapter 11 Financial planning and frecasting Chapter 11 Financial Planning and Frecasting Learning utcmes Discuss the purpse f a financial plan detail Define financial plan and financial plicy Discuss
More informationDynamic Impact Analysis: Methodology and Output PRESENTED TO SENATE FINANCE COMMITTEE LEGISLATIVE BUDGET BOARD STAFF
Dynamic Impact Analysis: Methdlgy and Output PRESENTED TO SENATE FINANCE COMMITTEE LEGISLATIVE BUDGET BOARD STAFF March 2016 Dynamic Ecnmic Impact The Legislative Budget Bard has the capability t prduce
More informationNinth UNCTAD Debt Management Conference
Ninth UNCTAD Debt Management Cnference Geneva, 11-13 Nvember 2013 The Debt Sustainability: After HIPC Initiative and the Glbal Crisis by Mr. Ellias Ngalande Executive Directr Macrecnmic and Financial Management
More informationDe minimis aid declaration
De minimis aid declaratin Declaratin within the scpe f the prvisin f aid as referred t in the de minimis aid Regulatin (OJ 2006, L379). It is recmmended that yu read the explanatry ntes in the annex t
More informationHousehold Debt as % Disposable Income Excluding Mortgages Canada 113% 42% British Columbia (highest)
The Ecnmy RRSP Editin February 2003 The Canadian ecnmy cntinued its strng perfrmance in 2002: preliminary numbers shw a 3.4% year-n-year increase in GDP, the best amng the G-7 cuntries. Emplyment grwth
More informationSummary of revised methodology for setting the allowed revenue for electricity transmission
Public Cnsultatin, December 2013 Summary f revised methdlgy fr setting the allwed revenue fr electricity transmissin Summary f revised methdlgy fr setting the allwed revenue fr electricity transmissin
More informationQ Financial Results. Milan May 7th, 2015
Q1 2015 Financial Results Milan May 7th, 2015 Agenda Q1 2015 Highlights Grup verview Results by business Outlk Financial results Appendix Q1 2015 Financial Results 2 Q1 2015 Key Financials Eur Millins,
More informationCountry brief. Rwanda. Ronald Nkusi MINECOFIN. September Contacts: / Country Case - Rwanda
Cuntry brief Rwanda Rnald Nkusi MINECOFIN September 2015 Cntacts: rnald.nkusi@minecfin.gv.rw / danila.bneva@undp.rg 1 Cuntry Case - Rwanda The present cuntry brief was prepared by the External Finance
More informationInvestor Profile Questionnaire
Investr Prfile Questinnaire Investment Objectives 1. An investment bjective can vary, frm a cnservative strategy in which the fcus is n capital preservatin t an aggressive grwth strategy in which the fcus
More information2. Expenditure Method GDP=Expenditure Y=C+I+G+NX
Lecture 1: Measuring Macrecnmic Perfrmance Evaluating Macrecnmic Perfrmance 1. Rising Living Standards: Tendency fr the level f utput (quantity and quality f gds and services) t increase ver time. a. Output
More informationCuyahoga County, Ohio 2012 First Quarter Budget Update
Cuyahga Cunty, Ohi 2012 First Quarter Budget Update As f March 31 st 2012 Cuyahga Cunty Executive Office f the Fiscal Officer Summary f Quarterly Review Prcess OBM is required t cnduct a quarterly assessment
More informationLecture # Cost-Benefit Analysis
Lecture # 24 -- Cst-Benefit Analysis I. Steps t Cst-Benefit Analysis (cntinued) 4. Discunting The csts and benefits will ccur at different times. T cmpare them fairly, it is imprtant t discunt csts and
More informationFor personal use only
MEDIA/ASX RELEASE 6 August 2013 Titan Energy Services annunces $9.1m NPAT fr FY13 and FY14 $21m - $23m EBIT target www.titanenergyservices.cm.au ASX ticker: TTN 2012/13 (FY13) Highlights Recrd full year
More informationUnderstanding Keynesian Economics: Selected Key Points of Ch. 9
Page1 Understanding Keynesian Ecnmics: Selected Key Pints f Ch. 9 NOTE: In this lecture nte I have clarified the parts f Ch. 9, that I felt, are nt explained very clearly. This DOES NOT mean that the remaining
More informationHOW THE DEPARTMENT MADE DETERMINATIONS INDIVIDUALS WITH DISABILITIES EDUCATION ACT IN 2017: PART B UNDER SECTION 616(D) OF THE
HOW THE DEPARTMENT MADE DETERMINATIONS UNDER SECTION 616(D) OF THE INDIVIDUALS WITH DISABILITIES EDUCATION ACT IN 2017: PART B INTRODUCTION In 2017, the U.S. Department f Educatin (Department) is cntinuing
More informationQ1' FY16 Q1' FY17 Y/Y Chg Sales $ 4,600.8 $ 4,173.4 $ (427.4) Gross Profit $ $ $ (37.8) Gross Profit Margin 12.2 % 12.
$ in millins - except per share data Octber 1, 2016 CFO Review f Fiscal 2017 First Quarter Results Discntinued Operatins On September 19, 2016, Avnet, Inc. annunced that it had entered int an agreement
More informationTHE WHITE HOUSE Office of the Press Secretary
THE WHITE HOUSE Office f the Press Secretary FOR IMMEDIATE RELEASE March 16, 2009 President Obama and Secretary Geithner Annunce Plans t Unlck Credit fr Small Businesses Emphasizes Recvery Effrts Already
More informationMacro and Debt Stragey
MONGOLIA:GOVERNMENT OF MONGOLIA EXTERNAL PARTNERS TECHNICAL MEETING Octber 9-10, 2006 Macr and Debt Stragey By Batbayar, B. Directr, Debt Management Divisin Ministry f Finance 1 Cntents Macr envirnment
More informationPAE 15: Sustainable Investment
PAE 15: Sustainable Investment 12 pints available A. Credit Ratinale This credit recgnizes institutins that use their investment pwer t prmte crprate sustainability. This culd take the frm f making psitive
More informationForesight Analytics Research Insight August 2018
GREITs Landscape Review Allcatins frm superfunds are expected t rise; the asset class cntinues t ffer attractive attributes hwever active manager selectin warrants cautin based n histrical evidence. 1
More informationLecture # 22 Cost-Benefit Analysis
Lecture # 22 Cst-Benefit Analysis I. Intrductin t Cst-Benefit Analysis (CBA) Public fficials ften use cst-benefit analysis t decide whether a prject is wrthwhile. Cst-benefit analysis can be used t guide
More informationOverview of New Starts and Related Provisions in MAP-21
Overview f New Starts and Related Prvisins in MAP-21 Prgram Huse - HR 7, American Energy and Infrastructure Jbs Act - as reprted by Huse Transprtatin and Infrastructure Cmmittee Senate - S. 1813, Mving
More informationInternal Control Requirements for Adopting New Accounting Standards
Internal Cntrl Requirements fr Adpting New Accunting Standards Backgrund In previus articles, BKD discussed the U.S. Securities and Exchange Cmmissin s (SEC) expectatins regarding the requirement t disclse
More informationForth Quarter Results 2016 February 24, 2017
Frth Quarter Results 2016 February 24, 2017 4Q16 Results February 24, 2017 Fd segment revenue reaches R$45 billin in 2016, up 11.7%, accelerating t 12.5% in 4Q16 4Q16: Net sales: R$11.7 billin EBITDA (1)
More informationMIFID Policy Client classification
MIFID Plicy Client classificatin Page 1 f 8 Cntents 1. Intrductin... 3 2. Purpse... 3 3. Client Classificatin... 5 a) Eligible cunterparties... 5 b) Prfessinal clients... 6 c) Retail clients... 8 d) Classificatin
More informationRating Methodology for Primary Non Ferrous Metals Manufacturers
September 2015 Backgrund Nn-ferrus metals cmprising aluminium, cpper and zinc find wide applicatins in the electrical, cnstructin, packaging, transprt, and cnsumer durable segments. During April 2014 t
More informationHighlights for 2017 Compliance
Prvided by Natinal Insurance Services, Inc. Highlights fr 2017 Cmpliance The Affrdable Care Act (ACA) has made a number f significant changes t grup health plans since the law was enacted in 2010. Many
More informationVisa Inc. Reports Fiscal Third Quarter 2014 Net Income of $1.4 billion or $2.17 per Diluted Share
Visa Inc. Reprts Fiscal Third Quarter 2014 Net Incme f $1.4 billin r $2.17 per Diluted Share Fster City, CA, July 24, 2014 Visa Inc. (NYSE: V) tday annunced financial results fr the Cmpany s fiscal third
More informationQBE Gender Equality Bond Annual Review 2018
QBE Gender Equality Bnd 2018 Type f engagement: Engagement Leader: Lili Hcke, (+31) 20 205 00 40 Intrductin In 2017, QBE Insurance Grup Limited (QBE) issued a gender equality bnd aimed at financing and/r
More informationWeekly Markets Report
ORBEX Weekly Markets Reprt OVERWEEK BULLET POINTS,THE WEEK AHEAD,MARKETS PREVIWE AND THE CHART OF THE WEEK ORBEX Research Department 21 st OF April., TO 25 th f April 1 Wed Apr 23 WEEKLY MARKETS REPORT
More informationAgency Reorganization Process
Overview Definitins Respnsibilities This instructinal guide identifies the sequential steps that an agency must fllw when prcessing an agency rerganizatin in the Peple First system. Fllwing these steps
More informationThe personal impact of Australia s current economic situation A Snapshot.
The persnal impact f Australia s current ecnmic situatin A Snapsht. Results frm a survey carried ut by The Salvatin Army Suthern Territry in 2009, 2010 and 2011. f lia s current Fr mre infrmatin abut this
More informationTo go to the depth of the consumer's heart and be his friend forever. Q1 FY2016 Earnings Presentation August 10, 2015
T g t the depth f the cnsumer's heart and be his friend frever Q1 FY2016 Earnings Presentatin August 10, 2015 Imprtant Ntice This presentatin cntains statements that cntain frward lking statements including,
More informationWe recommend that the report is reviewed by Boards and Governing Bodies across the country.
briefing February 2016 Mazars reprt: the imprtance f gd quality investigatins December 2015 saw the publicatin f Mazars independent review int 10,296 deaths f peple with a learning disability r mental
More informationLiquid News. January Liquid Investment Rates (Past 6 Months) Total Fund Assets (Year over Year)
Millins Liquid Investment Rates (Past 6 Mnths) ASBO NY s Strategic Partner fr Investing Public Funds 2.50% 2.30% 2.10% 1.90% 1.70% 1.50% 1.30% 1.10% 0.90% 0.70% 0.50% Jul-18 Aug-18 Sep-18 Oct-18 Nv-18
More informationProject: Agriculture sector development support program through labour intensive works
Terms f Reference Engineering cnsultancy fr prject design and cntract fllw up Agriculture Infrastructure Cnstructin, rehabilitatin and maintenance in Bekaa Prject: Agriculture sectr develpment supprt prgram
More informationDEPRECIATION AND AMORTIZATION
Page 1 f 8 1 5 6 7 8 9 10 11 1 1 1 15 16 17 18 19 0 1 5 6 7 8 9 0 1 DEPRECIATION AND AMORTIZATION 1.0 PURPOSE This evidence describes OPG s depreciatin and amrtizatin plicy and presents the depreciatin
More informationBolton Global Capital
Bltn Glbal Capital CUSTOMER REQUEST FOR APPROVAL TO PURCHASE PENNY STOCKS INCOMPLETE INFORMATION WILL RESULT IN NON-APPROVAL Acct # -- Rep # Rep Name Client Name (please print) (please print) Legal Address
More information