New look returns policy

Reflections of Monetary Reform Challenges in Perspective I will never forget the day I arrived in China in 1981 in late spring. On that first moment on a hot spring day, the equation of China's future currency evolution and monetary policy would be spelled out in a single equation of simple events that would occur that afternoon. Beijing airport seemed empty. In those days the only airport terminal was T1 and there were no direct flights coming from the US. We had to transit in Tokyo overnight, arriving by Japan Airlines, which only ran a few times a week to Beijing. That is how little international communication China had in 1981. My first clear memory from leaving Beijing was taking a long drive into Beijing on a narrow road lined with poplar trees, and stopping at the Friendship Store. There I changed my U.S. dollars for something called the "FEC", Foreign Exchange Certificates, then valued nearly 1 to 1 with the U.S. dollar. Of course, given China's low foreign exchange reserves at … [Read more...] about China’s monetary policy seen in 70-year perspective

By Sachin Jain In our quest to make better returns, we often get this thought: I wish I had the advantage of hindsight. Looking back at the last decade, an investor would wish he/she was in cash in 2008, remained fully invested in equities – preferable largecaps – in 2009, moved out to real estate in 2013, shifted to midcaps/smallcaps during 2014-2017 and moved out to gilt funds in 2019. If one would have done all of that, then the kind of returns accrued would have been phenomenal. However, mutual fund industry figures reflect a completely opposite trend. Why is it so? One of the key factors is the over-emphasis on past performance and our inability to book profit in a trending market. The learning is that it is difficult to invest in an asset class when it is out of favour. As investors, we tend to succumb to herd mentality. For example: There was increased allocation to bond (duration) funds in early 2013 before RBI Governor Raghuram Rajan spoiled the party. When it … [Read more...] about A wealth-creation idea whose time has come: credit risk fund

NEW DELHI: Even as air quality in Delhi improved to satisfactory level last week, environmental experts have cautioned that it's no time to rejoice and asked both the central and AAP governments to step up preparedness for the winter, when air quality plummets to very poor levels. While environmental experts want the Environment Ministry to fully notify the Supreme Court approved Comprehensive Clean Air Action plan for systemic reforms to kick start immediately, others say the foremost priority for the ministry is to roll out a national clean air programme by setting up time-bound emission targets to reduce air pollution. With monsoon rains helping the air quality improve to satisfactory level for the first time in nearly a year, Delhiites breathed the cleanest air last week, authorities said. The south-west monsoon hit the city on June 28. The Air Quality Index (AQI) value for the capital came down to "satisfactory" 83 on June 29. AQI between 0-50 is considered "good", 51-100 … [Read more...] about Air quality can drop anytime, experts suggest planning in advance for winter

Email By political reporter Brett Worthington Updated April 17, 2019 11:48:44 Video: Mr Morrison visited Corangamite on Tuesday, while Mr Shorten was in the seat of Boothby. (ABC News) Related Story: Here's what we know about how much Labor's plans are going to cost Related Story: Politicians dig their way out of trouble as history haunts their campaigns Related Story: Campaign turns silly as Jacqui Lambie enjoys a sausage and Matt Canavan eats a raw onion Map: Australia Oysters were shucked and bowls rolled as the battle for the prime ministership took a coastal turn into historically Liberal strongholds.The Coalition took its campaign to the beach in a bid to salvage a seat that party hardheads have all but set adrift.Labor, meanwhile, started venturing west in an effort to convince Liberal voters to ditch the party they have always backed in.The Opposition's sole focus at the moment is on health, but its latest policy has the Prime Minister crying foul, accusing a … [Read more...] about Scott Morrison woos Coalition heartland as Bill Shorten targets Liberal marginal seats

THIRUVANANTHAPURAM: Remember a dejected Virat Kohli, hands on hips, standing at the centre of the Wankhede wicket as West Indies bulldozed India down with their power-hitting in the semifinal of the last T20 World Cup in 2016? Kohli, the sixth bowling option for the then skipper MS Dhoni, was defending the undefendable (seven runs) in the final over as India were found wanting in bowling depth. Nearly four years on, as India gear up for another World Cup campaign, Kohli, now the captain of the side, seems to have adopted a policy while picking his team for T20 matches. "You need to have six bowling options in T20 cricket, that's the basic rule. You can't go in with five expecting everyone to bowl four good overs. It gets very difficult as a team after a while. I think that is the balance that we need to create," Kohli had said ahead of the first match of the three-match T20I series against West Indies. Clearly, he does not want to punt on part-timers like himself when the heat is … [Read more...] about Pecking order unclear in Indian spin department