Arab Center Mon, 29 Nov 2021 04:25:06 +0000 en-US hourly 1 Arab Center 32 32 DVLA tells drivers to avoid expensive third-party services for license applications Mon, 29 Nov 2021 00:01:59 +0000

Third-party websites charge a fee for submitting a driver request to DVLA. Photo: Getty Images

The UK Driver and Vehicle Licensing Agency (DVLA) has warned drivers to stay away from third-party websites that charge “high premiums” for licensing services.

The agency said that in the past year more than 800 Britons have said they needlessly lost money renewing their driving license at the age of 70 through a third-party website.

Some services charge up to £ 81 ($ 108) to renew a license over 70, while doing so on the official government site is free. When drivers in the UK reach their 70th birthday, they must renew their driving license every three years.

DVLA CEO Julie Lennard said, “Drivers who want to renew their license at age 70 and over should use our online service which is secure, free, and also the fastest and easiest way to deal with it. DVLA. Customers usually get their driver’s license in just five days. “

Many third-party websites appear at the top of Google search results when searching for DVLA, causing dozens of drivers using them to think they are dealing with DVLA.

Read more: Black Friday sales kick off the holiday shopping season

Third party websites charge a fee to submit a driver request to DVLA, but these sites are not affiliated with DVLA and requests made through third party websites are not processed any faster than those made through the website. .

Brits have to pay £ 34 to get their provisional license if they apply online and £ 43 if they do so by post.

After that, they are free to get their full license, unless they want their photo to be different from that of their provisional license. It costs £ 17.

In July, MPs questioned DVLA officials about “significant delays” in processing driver’s license applications.

The Commons transportation committee said its session followed concerns from motorists, trainee drivers and truck drivers over long delays in receiving documents.

The DVLA also said digital provisional driving licenses will be introduced as part of post-Brexit changes to make transport “fairer, greener and more efficient”.

The agency said it aims to develop an app showcasing the licenses, required by those learning to drive, by 2024.

It has been reported that if the deployment turns out to be successful, full driver’s licenses may follow suit.

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Bangladesh ready for large foreign investment Sun, 28 Nov 2021 16:35:00 +0000 International Investment Summit 2021. Photo: Salahuddin Ahmed / TBS A hundred economic zones and a dozen high-tech parks under construction, 11 growth sectors with great potential and new unexplored territorial waters are …]]>

TBS Report

28 November 2021, 22:35

Last modification: November 28, 2021, 10:46 PM

International Investment Summit 2021. Photo: Salahuddin Ahmed / TBS


International Investment Summit 2021. Photo: Salahuddin Ahmed / TBS

A hundred economic zones and a dozen high-tech parks under construction, 11 growth sectors with great potential and new unexplored territorial waters are among the assets that Bangladesh has presented to potential global investors.

In addition, a significant decrease in the poverty rate and a gradual increase in per capita income make South Asia’s fast growing $ 411 billion economy a huge market for a wide range of goods and services.

And that Bangladesh is the right choice for foreign investors to invest their money in, development partners, diplomats and businessmen said on Sunday at a two-day investment summit plenary session in Dhaka.

In sessions on the first day of the summit, senior executives of multinationals operating in Bangladesh acknowledged that the government’s seriousness in building rapid infrastructure and a growing consumer market are major incentives for foreign investment.

They said, however, that the tax regime needed to be simplified and that a one-stop-shop solution was needed so that a cruise ship did not need permission from 40 offices to enter Bangladesh waters.

At the opening of the two-day summit hosted by the Bangladesh Investment Development Authority (Bida), Prime Minister Sheikh Hasina assured investors of a conducive business environment.

In the summit’s opening document, the Prime Minister’s Principal Secretary, Dr Ahmad Kaikaus, said the 11 growth sectors have an investment opportunity of more than $ 75 billion over the next two years as Bangladesh encourages more than ever private investors.

Prime Minister Sheikh Hasina unveiled a publication from the 2021 International Investment Summit on Sunday by virtually joining the two-day summit opening ceremony from his official residence. Photo: PID

Prime Minister Sheikh Hasina unveiled a publication from the 2021 International Investment Summit on Sunday by virtually joining the two-day summit opening ceremony from his official residence.  Photo: PID

Prime Minister Sheikh Hasina unveiled a publication from the 2021 International Investment Summit on Sunday by virtually joining the two-day summit opening ceremony from his official residence. Photo: PID

Rupali Haque Chowdhury, president of the Chamber of Commerce and Industry of Foreign Investors (FICCI), emphasized stimulating foreign direct investment for the country’s economic objectives.

“We are here to give full support to the government in promoting investments,” she noted, adding that FICCI is in contact with foreign investors to help build confidence in government policies and commitments. .

Sanjiv Mehta, President of Unilever South Asia, said: “Unilever has been in Bangladesh since independence. The journey started with a single factory in Chattogram, but the second was installed in Dhaka later in the face of growing local demand.

With a huge consumer base, the country appears to be very lucrative for foreign investors and it could be a great investment destination if the tax structure is simplified, he added.

Dr Mercy Miyang Tembon, World Bank Country Director for Bangladesh and Bhutan, said Bangladesh’s economic zones now play a crucial role in product diversification, technology transfer and job creation.

“I visited economic zones. For me, some 1 lakh of new clothing jobs in industrial zones will be a game-changer for poverty reduction,” she added.

Nuzhat Anwar, Acting Country Manager for Bangladesh, Bhutan and Nepal at the International Finance Corporation (IFC), said: “At this point, we think Bangladesh has become a model for development. The country now needs a strategy ranging from new financing techniques to policy changes to take it to the next level. “

Referring to the Eighth Five-Year Plan, she said Bangladesh will need $ 608 billion by 2040 for infrastructure, while 75% of funding will need to come from the private sector.

“The role of the IFC will be important in building the confidence of private investors in providing financing,” she added.

Robert Chatterton Dickson, British High Commissioner to Bangladesh, said: “Bangladesh has made the impossible possible, which is widely recognized around the world.

On the opportunities and challenges to attract British investment, the British High Commissioner said Bangladesh needs to step up its engagement in the global economy.

Photo: Salahuddin Ahmed / TBS

Photo: Salahuddin Ahmed / TBS

Photo: Salahuddin Ahmed / TBS

He said: “Internal resources will not necessarily be sufficient to take the economy to the next level. Thus, a public and private partnership will be necessary for sustainable growth.

“The second thing would be financial sector reform to increase foreign capital. I think the capital market has a tremendous opportunity to modernize and develop in a way that will attract foreign investment.”

“I think that increasing the attractiveness of the Bangladeshi bond market and capital for international investors would be extremely important,” he said, adding that the implementation of the law on cross-border higher education between the Kingdom United and Bangladesh would be a win-win situation to make the British competitive internationally. education offered by talented Bangladeshi youth.

In another session of the blue economy summit, Nurul Qayyum Khan, president of the Bangladesh Marine Fisheries Association, said it was vital to develop technology and skilled labor to attract local investment. and foreigners.

Its recommendations include joint ventures for the study of fisheries, the establishment of projects under a public-private partnership for tuna fishing, subsidies for fuel, long-term loan facilities with interest. reasonable and corporate tax restructuring.

Foreign Minister Dr AK Abdul Momen said: “The vast resources of the blue economy are mostly untapped.

In another session, Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of the Bangladesh Export Processing Zones Authority (BEPZA), said eight export processing zones were now operational with 459 factories. .

“Investors from 38 countries have invested in it because the factories have generated 47,000 jobs,” he noted.

Mr. Erfan Sharif, executive member of the Bangladesh Economic Zones Authority (BEZA), highlighted tax exemptions, ease of duty-free importation and other tax exemptions for investors in industrial zones.

However, Syed Golam Kibria, a member of the National Revenue Office, said earlier in the plenary session that the council often finds itself in a difficult situation as it must ensure an uninterrupted money supply for infrastructure development and offer investors tax exemptions at the same time.

Bangladesh Bank Executive Director Mohd Humayun Kabir said the central bank is ready to provide foreign investors with maximum political support.

Salman F Rahman, the Prime Minister’s adviser on private sector development and investment, addresses the opening ceremony of the 2021 International Investment Summit on Sunday. Photo: Salahuddin Ahmed / TBS

Salman F Rahman, Private Sector Development and Investment Advisor to the Prime Minister, addresses the opening ceremony of the 2021 International Investment Summit on Sunday. Photo: Salahuddin Ahmed / TBS

Salman F Rahman, the Prime Minister’s adviser on private sector development and investment, addresses the opening ceremony of the 2021 International Investment Summit on Sunday. Photo: Salahuddin Ahmed / TBS

Salman F Rahman, Advisor to the Prime Minister, said: “This is a new and different Bangladesh that is both resilient and adaptive. He does not shy away from challenges.

“We are more than ready to embrace the post-Covid world – its new possibilities and opportunities. We invite you to invest in Bangladesh and be an integral part of the remarkable prosperity that Bangladesh’s Vision 2041 will bring,” he said. added.

The Business Standard is the media partner for this two-day event.

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Utah Athletics Announces Beth Launière Endowment Volleyball Head Coaches Fund Sat, 27 Nov 2021 22:13:39 +0000

Utah Head Coach Beth Launiere chats with her players during a timeout as the University of Utah faces Brigham Young University at the Hunstman Center in Salt Lake City on Thursday, September 14, 2017. ( Adam Fondren, Deseret News)

(Adam Fondren, Deseret News)

SALT LAKE CITY – The University of Utah Volleyball Program received a million dollar donation to establish head coach Beth Launiere Endowed Volleyball.

This is the first head coach endowment among Utah Athletics programs. Beth Launière is completing her 32nd season as the Utah Volleyball Head Coach.

The donor who donated $ 1 million to Launière and the Volleyball Program wishes to remain anonymous, has pledged to support the mission and values ​​of the University of Utah Volleyball Program by creating a permanent staffing to recognize and promote coaching excellence.

Supporters can contribute to the fund by clicking on the link here.

“This generous donation testifies to the legacy that Beth launiere continues to settle here in Utah and the tremendous impact it has had on so many women who have participated in our volleyball program, ”said AD Utah Mark Harlan. “We are so grateful for this first Head Coach Endowment Gift, and I could not be happier that the donor has chosen to honor Beth in perpetuity in this manner. I encourage our great supporters to contribute to this fund so that it grows and allows our volleyball program to be improved by this donation on an annual basis. My hope and intention is to see more of our head coaching positions filled in the years to come. “

Utah Volleyball closed the regular season with a 3-1 victory over Colorado on Senior Matchday at the Huntsman Center on Saturday afternoon.

“Words cannot express how grateful I am for this endowment to the Utah volleyball program,” Launière said. “This donation from an incredibly generous donor will have an incredible impact on current and future generations of Ute players. This support will be instrumental in continuing the success of this program that we built during my tenure as head coach in Utah. I am both touched and honored that my name is associated with this endowment. “

Trevor Allen is a Utah Utes insider for, co-host of the Faith, Family and Football podcast with Clark Phillips III and host of the Crimson Corner podcast. Follow him on Twitter: @TrevorASports.

Social Protection Reform: Fears Rise in Response to New Ceiling – But How Can You Cut Costs? | Personal Finances | Finance Sat, 27 Nov 2021 08:30:00 +0000

Social care is rarely free and the amount you pay depends on the level of care you need and the assets you have. In 2019, Boris Johnson pledged to ensure that no one was forced to sell their home to pay for care later in life. But now, two years and a global pandemic later, there are fears that some may still be forced to lose their homes in this way. speaks with a tax, trust and estate lawyer about the main techniques you and the government can use to reduce social care costs.

Heading into the 2019 general election, which saw the Conservative Party walk away with a huge majority, Mr Johnson pledged to reform welfare.

He promised that “no one in need of care should be forced to sell their house to pay for it”.

However, following a new social protection proposal, the Prime Minister faces accusations that he has flip-flopped on this pledge.

Boris Johnson has announced a new social protection ceiling that will take effect from October 2023.

The cap, which is part of a larger package of welfare reform plans, is designed to address the fact that some people end up losing their homes and savings to the costs of care.

Under the current system, one in 10 people aged 65 in England incur social care costs of £ 100,000 or more in their lifetime,

However, from 2023 the government has proposed to reduce this to ensure that the maximum anyone can spend on care is £ 86,000.

READ MORE: State pension warning: National insurance may not increase your sum

Critics of the reform, including the opposition MP and backbench Tories, claim the PM has broken his promises and claim the program will have a disproportionate impact on the UK’s poorest retirees. United.

However, breaking the 2019 manifesto promise was inevitable, according to Stewart Stretton-Hill, a tax, trust and estate lawyer at Irwin Mitchell.

Mr Stretton-Hill told ‘Breaking the party manifesto that they would not raise taxes was, in a way, inevitable in light of the Covid crisis over the past two years , but the money had to come from somewhere.

“Raising taxes to support the system will help, but it might just kick the box up.”

But the news need not be daunting for everyone, with Mr Stretton-Hill suggesting there is a simple way for the government to help avoid the harshest impact of this welfare reform.

Mr Stretton-Hill told ‘Encouraging individuals to save at an early age by offering tax incentives, similar to retirement savings, could help ease the burden on public funds, allowing funds to be directed to those with limited assets. .

“The wealthiest people could create a tax-free kitty to help pay for their care or, if not necessary, to provide a tax-efficient inheritance.

“Continuing to introduce a phased system in which the care ceiling is based on a percentage of assets as opposed to a fixed amount would be more equitable. “

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But the news need not be daunting for everyone, with Mr Stretton-Hill suggesting there is a simple way for the government to help avoid the harshest impact of this welfare reform.

Mr Stretton-Hill told ‘Encouraging individuals to save at an early age by offering tax incentives, similar to retirement savings, could help ease the burden on public funds, allowing funds to be directed to those with limited assets. .

“The wealthiest people could create a tax-free kitty to help pay for their care or, if not necessary, to provide a tax-efficient inheritance.

“Continuing to introduce a phased system in which the care ceiling is based on a percentage of assets as opposed to a fixed amount would be more equitable. “

Helping to train and support caregivers is another key element in reducing the financial cost of the crisis.

Supporting these key people whose work is “as important as our emergency services” should be a priority, said Stretton-Hill.

The government has offered a £ 500million fund to help train and support caregivers to ensure these people get the education and incentives they need.

In addition, helping seniors realize the capital value of their homes is a key way to tackle the costs of social care, Stretton-Hill said.

He added: “Facilitating downsizing by introducing, for example, a land tax relief on stamp duties would free up excess sales proceeds to help pay for care and bring more goods to market for them. younger generations looking to move up the ranks – in turn, potentially freeing up goods for first-time buyers.

But there are still problems with Mr Johnson’s proposal.

A fixed figure for the care cap will always lead to inequality when looking at the percentage of wealth an individual has to spend.

Right now there is a ‘cliff edge’ at £ 23,250, according to the tax expert.

If someone has assets above this threshold, they receive no help from the local authority.

The increase in the capital cap from £ 23,250 to £ 100,000, as well as the cap on childcare costs, will mean that many more people will be eligible for financial support from local authorities.

Many people claim this change will result in a postcode lottery, but Mr Stretton-Hill says a postcode lottery has been in place for many years already.

But he added that the new reform proposals risked creating a North / South divide due to the comparative value of properties.

Instead, he said a more appropriate solution would be to look at the percentage of an individual’s capital wealth spent on care.

Mr Stretton-Hill told “This way no one should be disproportionately affected by their ultimate care costs.”

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Latam Air concludes bankruptcy agreement that leaves the reins to creditors Sat, 27 Nov 2021 04:54:20 +0000

Latam Airlines Group SA has reached an agreement with the main stakeholders which paves the way for the Chilean carrier to reduce its debt and come out of bankruptcy under a new owner.

Latin America’s largest airline plans to raise around $ 5 billion by issuing shares and convertible notes to current shareholders and creditors upon exiting the Chapter 11 bankruptcy, according to court documents. Ultimately, the deal allows a group of creditors – led by Sixth Street Partners, Sculptor Capital and SVPGlobal – to take control of the company.

It will also allow Santiago-based Latam to reduce its debt by around $ 4 billion upon exiting the process, which could occur as early as mid-2022 if approved by a judge and shareholders. Delta Air Lines Inc., Qatar Airways and the Chilean Cueto family – who together owned most of the company before the reorganization – agreed to back the plan, helping to iron out thorny Chilean legal issues that weighed on the negotiations.

Creditors and shareholders “have joined forces to provide more than $ 5 billion in fresh capital to Latam to support and move the restructuring forward,” said Roberto Alvo, CEO of Latam, in an interview. The plan and the agreement “provide the basis for a very strong and solid future for Latam”.

The deal marks a victory for Latam, who filed for bankruptcy in 2020 as Covid-19 lockdowns hampered international travel. If the company had not filed a restructuring plan on Friday, it risked losing control of its bankruptcy exit strategy. Rival carrier Azul SA has said it wants to buy Latam if the opportunity arises.

For Latam, the plan is a major step towards exiting bankruptcy. Creditors unhappy with the deal can still seek to block it, but U.S. bankruptcy rules allow a company to force a restructuring deal on reluctant creditors if certain legal hurdles are encountered.

The airline plans to issue $ 800 million of common stock and resume trading in Santiago with U.S. certificates of deposit, or ADRs, in New York City, Alvo said. Existing shareholders will have the first chance to buy the new shares – an unusual event in a US bankruptcy, which typically sees shareholders wiped out entirely. But Chilean regulations give shareholders rights to new shares sold by their companies.

A group of creditors to whom Latam owes billions of dollars agreed to buy all the new shares not bought by existing shareholders. In addition to Sixth Street, Sculptor and SVPGlobal, this group of creditors included Monarch Alternative Capital and Silver Point Capital as of October 27, according to court documents.

Importantly, the plan provides for the issuance of three categories of notes that can be converted into shares. According to Chilean law, current shareholders will also have the right to buy them, but their structure makes them more attractive to creditors and shareholders supporting the plan, Alvo said.

Lower-ranking creditors can swap their claims for a category of notes, while the others are designed for stakeholders who have already agreed to support the plan or who are bringing fresh money to Latam, Alvo said.

In total, Latam’s existing shareholders could end up with nearly 30% of the airline’s stake, with the rest ending up in the hands of creditors, he said.

In addition, Latam will contract $ 2.75 billion in new debt – to be raised either in the bond market or on term loans, as well as a credit facility – which will be used in part to repay current creditors. Overall, the plan will reduce Latam’s debt to around $ 7 billion, down from around $ 11 billion at the start of the bankruptcy.

Rival Brazilian airline Azul SA – founded by David Neeleman who also launched JetBlue Airways – has made an offer to buy Latam’s operations. Latam considered Azul’s proposal, but Alvo said it lacked specificity.

“It was a proposal that was hypothetical and impossible to move forward,” he said, without providing details. “We considered its merits. It is insufficient.

Azul has worked with a small group of creditors on an alternative bankruptcy exit plan, according to a person with direct knowledge of the proposal who requested anonymity as the details are confidential. The proposal would result in the formation of a new company owned by Latam’s creditors and Azul shareholders. The combination of two of the largest carriers in the Brazilian domestic market would create a more efficient business and lower operating costs, the person said.

But under US bankruptcy rules, because Latam filed his plan within a time specified by the court, Azul and other creditors’ ability to initiate their own plans is severely curtailed. Latam has the exclusive right to present a restructuring proposal until such right is terminated.

Latam used Chapter 11 to downsize its fleet, renegotiate aircraft leases and cut other costs, including downsizing its workforce to around 29,000 from 43,000 previously. The company has seen domestic travel in key markets, such as Brazil, Colombia and Chile, rebound, but it will not reach pre-pandemic demand levels until 2024, Alvo said.

It will emerge in a Latin American travel market shaken by the pandemic, some of the largest carriers, including the Colombian Avianca Holdings SA and Grupo Aeromexico, forced into bankruptcy.

Alvo said Latam has reduced its operating costs to enable it to compete with ultra-low cost carriers and is in the process of receiving regulatory approval for a joint venture with Delta that will strengthen its international flight options.

“The whole industry and business have been brought to their knees by this unforeseen event,” he said, referring to the impact of Covid-19. “Today our position in all countries where we have operations is equal to or better than what we had before entering the pandemic.”

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Identify winning positions in the market | The star Sat, 27 Nov 2021 00:52:13 +0000

BASED ON statistics provided by Bursa Malaysia since the start of the year, the biggest buyers on the local exchange in the form of market participants are retail investors with a total net inflow of around $ 11.7 billion. RM as of November 24, 2021.

While we have seen net buying among foreign institutional investors over the past three to four months, net inflows are still not significant to reverse the year-to-date net outflows, which currently stand at 1.8 billion RM.

With this, local institutions became the biggest net sellers in the market with an outflow of RM9.9 billion.

The above is only an overview of market flows and it does not or is not able to show to what extent the inputs / outputs have turned out to be the right investment decisions by market participants. respective ones, in particular with regard to individual actions.

Overall, we know that the benchmark FBM KLCI has underperformed with the index falling 6.7% so far this year, but does that mean investors haven’t not carried out profitable transactions?

Have investors been able to generate positive returns or have they caught falling knives?

To answer this sixty-four thousand ringgit question would require a more powerful and powerful tool to identify who, in the first place, is a better market participant among the three groups of investors.

And second, which particular company has been the biggest provider of positive returns for investors.


Bursa Malaysia’s data analytics and marketing arm, in partnership with a little-known fintech startup, DIBots IT Solution Sdn Bhd (DIBots), has been at the forefront of this revolutionary data-driven platform. which provides detailed business demographics and market and stock overview. .

DIBots Intelligence, as the subscription service is known, can provide market data that identifies the trend and helps investors make better investment decisions.


While not marketing or promotional material for the company, this column was rather impressed with the data DIBots can provide and applauds Bursa Malaysia’s efforts to provide more transparency and accountability. information that can help investors make more informed investment decisions.

Institutional investors get it

Let us first look at the flow of funds between foreign investors, including those made via nominees.

Table 1 shows the top 10 net entries and exits of this group of market players based on DIBot data. For net inflows, we can observe that with the exception of Nestlé, the net buying interest among the remainder of the top ten stocks is positively correlated with the performance of the underlying stocks.

For net exits, we can conclude that due to persistent selling pressure in companies like Hartalega Holdings Bhd, Gamuda Bhd, Dialogue group Bhd, Tenaga Nasional Bhd, and Genting Plantations Bhd, the performance of these companies has been negative since the start of the year and investors would be sitting on mark-to-market losses or potentially realized losses.

In this case, it can be concluded that the foreign fund managers have done a good job taking profits in these companies, as the respective stock prices have been lower since the start of the year.

However, for companies like Public Bank Bhd, MISCELLANEOUS Bhd, Genting Malaysia Bhd, Telekom Malaysia Bhd and Genting BhdAlthough foreigners have also been net sellers in these companies, their decision to take profit was likely missed on time as the underlying stocks have outperformed positively since the start of the year.

Overall, of the 20 stocks on the net in / out list, foreign fund managers got it right in 14 of them – a 70% success rate. Interestingly, they were mostly right about their net buying decisions.


Mixed performance among local institutions

Similar to the analysis done on the flow of foreign funds, a similar picture can be seen among local institutions as well, as shown in Table 2, which also includes transactions made through institutional agent accounts.

Out of the 20 stocks for which local institutions have recorded the highest net inflows / outflows since the start of the year, local institutional funds have managed to get things right on only nine of them, i.e. a rate of 45% success.

For this group’s net entries, they were only wrong in being net buyers in companies like Gamuda, Dialog, Hartalega and Genting Plantation, while in net selling, local institutions were wrong in selling stocks like Petronas. Chemicals Group Bhd, Malayan Banking Bhd or Maybank, Inari Amertron Bhd, CIMB Group Holdings Bhd, Public bank, IHH Healthcare Bhd and Metal Press Aluminum Holdings Bhd.

Indeed, we can also observe that what was right for foreign institutions in terms of net buy / sell were bad transactions for local institutions in terms of net sell / buy.

Access to data is essential

Since the implementation of the First Order of Movement Control (MCO) in Malaysia in March 2020, retail investors have been the biggest net buyers in the market.

Due to the lack of trade statistics and data available for this group of investors, they are in fact either sitting on huge losses or have missed the opportunity to make better returns as the stocks sold by them continue to have a good run.

Table 3 summarizes the retail trade flows since the start of the year, which also includes transactions made through retail nominee accounts. Based on the top 10 net in / out among retail investors, retail investors were only right by being net buyers of Public Bank and Maybank, as since the start of the year these two companies generated positive returns.

However, while these data points may not seem encouraging, retailers can subscribe to the DiBots Intelligence platform, as previously mentioned, to gain more meaningful insight to help them make better investment decisions. and improve their investment strategies.

The current scenario also serves as a timely call to action for the industry.

Led by Bursa Malaysia, the stock exchange community as ecosystem partners can provide greater support to retail investors by reducing the information gap that often cripples the investment decisions of these investors.

It starts with a better understanding of the customer experience of retail investors in the market, such as different investing styles or trading behaviors, which can lead to the development of targeted financial education campaigns or digital solutions to address varied investment needs.

By making the right foray into the use of technology and big data to create intelligence, Bursa Malaysia, with the participation of brokers, will achieve positive results with a more dynamic and educated segment of retail investors.

A word of warning

Since the above data is based on the performance of the individual stock since the start of the year, the return performance, which is based on the inflow or outflow of funds, may or may not reflect the group. real individual investor realized or unrealized. posts.

For example, in the case of Hartalega, retail investors may still have realized a gain if they had sold their investments much earlier and may have become net buyers more recently.

Likewise, the sale of the same share by foreign institutions is only the cumulative net sale of all foreign investors in the share.

Individually, the sale or purchase may have taken place over a period of time and some transactions may also have been profitable or loss-making.

Therefore, while the flow of funds tells a story, there is another element that makes a trade win or lose and that is timing.

To help investors track flows, a better way is to identify flows over a shorter time horizon, for example daily, weekly or even monthly flows.

Therefore, just like how investors deploy technical charts to assess entry or exit points, the data provided by DIBots can also be used to improve an investor’s entry or exit points on the market.

Pankaj C Kumar is a longtime investment analyst. The opinions expressed here are his own.

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Hong Kong’s COVID-19 rules take a mental toll on Cathay pilots Fri, 26 Nov 2021 02:04:37 +0000

By Jamie Freed

(Reuters) – One of Asia’s biggest airlines, Cathay Pacific, faces revolt from pilots who say Hong Kong’s strict quarantine rules as part of its zero COVID policy put their health at risk mental, leading to increased stress and quitting.

Cathay Pacific Airways Ltd fired last week three pilots who broke company rules by leaving their hotel rooms during a layover in Frankfurt and then tested positive for COVID-19.

The government responded by forcing more than 270 people, including schoolchildren linked to their families, to move into tiny neighborhoods in a state quarantine camp -health-coronavirus-hongkong-families-idUSKBN2B711T.

Some pilots declared themselves unfit to fly for their first duties upon release.

Extreme example of pandemic precautions under China’s zero COVID policy highlights the harsh working conditions facing Cathay pilots, all fully vaccinated, even as other Asian countries reopen slowly.

Cathay’s rivals, including Australia’s Qantas Airways Ltd, have started to relax their strict stopover policies, but the Hong Kong government is tightening the rules further in line with those on the mainland, hoping to convince Beijing to allow cross-border travel.

“I don’t think I can go on like this,” a Cathay pilot told Reuters who requested anonymity. “Only the stress of a potential quarantine of my family and friends takes its toll.”

Several other current and recently departed Cathay pilots told Reuters morale was low and resignations were on the rise a year after many saw their wages permanently reduced -pacific-layoffs-idUSKBN2780L0 as 58%.

Extreme stress is a big problem in an industry where any sign of psychological problems can make it difficult to get another job.

“What’s the risk if I tell them I’m a little stressed?” Asked a pilot who has spent more than 200 nights locked in hotel rooms far from Hong Kong since the start of the pandemic. “Does this affect my health? And then you go out of here and they ask if you’ve ever been fired for psychological reasons? “

The pilots also expressed their frustration at the ambiguity of some pandemic-related rules imposed by the government. Pilots, for example, are required to avoid “unnecessary social contact” for three weeks after returning to Hong Kong, but they are not given time off to compensate.

Cathay admitted to Reuters in a statement that pilot resignations had exceeded normal levels since late October.

“Unfortunately, the Frankfurt incident has affected the current sentiment,” the airline said.


Hong Kong classifies many destinations, including the United States and Great Britain, as “high risk”, meaning that Cathay pilots carrying passengers from these locations are subject to two weeks of quarantine at the time. ‘hotel.

To staff these flights, Cathay began running ‘closed loop’ lists on a voluntary basis in February involving five consecutive weeks locked in hotel rooms without access to fresh air or a gym, then two weeks off at home.

“I did it for the money, because the 50% pay cut (last year) made life a lot more difficult,” said a recently departed driver who did two closed loops. “There are people currently in their 5th or 6th closed loop.”

Cathay said Thursday that some inbound flights during the high demand season in December would be canceled, indicating a lack of volunteers.

The airline said it recognizes the pressure on its pilots and holds call sessions every two weeks to share concerns and programs like a peer-based pilot support network, as well as time off. extended.


As conditions improve elsewhere in the world, other airlines, including Emirates and U.S. cargo carrier Atlas Air Worldwide Holdings Inc, are looking for Cathay pilots, those who spoke to Reuters said.

Emirates, which has launched a recruitment drive for 600 pilots, declined to comment. Atlas did not respond to a request for comment.

Pilots Reuters spoke to said they expected more resignations next year when transitional housing and education allowances expire.

Cathay said she would employ “several hundred” new pilots and restart her cadet program over the next year.

Strict Hong Kong rules led FedEx Corp to shut down its pilot base in the city last week, underlining the territory’s grim appeal as a major logistics hub.

“I really, really feel for the people who are at Cathay,” said a FedEx pilot who recently left Hong Kong. “I am really concerned about their mental health and their condition.”

(Reporting by Jamie Freed in Sydney; Editing by Miyoung Kim and Stephen Coates)

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What property tax changes are expected in Victoria, Australia? Thu, 25 Nov 2021 12:58:27 +0000

Each week, Mansion Global poses a tax question to real estate tax lawyers. Here is this week’s question.

Q. What are the upcoming changes to property taxes in Victoria, Australia?

A. The 2021-2022 budget of the Australian State of Victoria, which includes
introduced a number of property tax changes.

For starters, the general property tax threshold will drop from A $ 250,000 to A $ 300,000 (US $ 215,600) for land not held in trust, according to the budget released in May.

This means that property tax is payable on properties valued at A $ 300,000 and over, which saves homeowners paying taxes on A $ 50,000 of the value of their property. The property tax threshold for property held in trust will remain AU $ 25,000.

Following: Why Are Some Chicago Homeowners Seeing Higher Property Tax Bills?

However, owners of high-end residences will have higher property tax rates. Properties over A $ 1.8 million will see their tax rate increase by 0.25%, while those valued at A $ 3 million or more will be charged an additional $ 0. , 3%, according to the Victoria’s State Revenue Office.

Changes to property tax rates in Victoria will begin on January 1, 2022.

A number of changes described in the budget have already entered into force.

As of July 1, buyers pay a land transfer tax, or transfer tax, on properties sold for A $ 2 million or more, according to the tax administration.

“The duties to be paid will increase to A $ 110,000 plus 6.5% of the customs value of more than A $ 2 million,” according to the site.

The budget also highlighted a temporary increase in the eligibility threshold for the concession of out-of-plan rights to A $ 1 million, from A $ 750,000. The benefit “reduces the value of the property for construction or renovation costs occurring on or after the contract date, reducing the amount of duty payable,” according to the state.

Following: Will Employees Working From Home In The United States Get Tax Relief?

This means that those who buy apartments still under construction pay tax on the price of the residence less construction costs. Thus, a house of 620,000 Australian dollars which will cost 465,000 Australian dollars to finish will pay stamp duty on 155,000 Australian dollars, according to an example given by the state.

Meanwhile, in the city of Melbourne there are also temporary benefits for buyers of newly built homes that can cost up to A $ 1 million.

“A 50% concession is available for new residential properties,” according to the tax administration. “A full exemption is available for new residential properties that have remained unsold for 12 months or more since construction was completed.”

These temporary tax advantages are applicable until June 30, 2022.

Email your questions to Check the answers weekly at

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Analysis: Interest rates and deposits Thu, 25 Nov 2021 12:05:31 +0000

This is the fourth part in a series that offers a retrospective look at Bangladesh’s financial sector

The financial sector has a number of markets and the prices determined by supply and demand in these markets are returns on asset values, usually interest rates.

For deposit rates and lending rates in the banking sector, competition among banks will determine these rates, subject to any rules that the central bank may establish.

The functioning of the two deposit and loan markets and the interest rates generated are the central issues for the success of the banking sector.

Banks match borrowers and savers by charging a small amount (often called the spread) to do this.

Also Read – A Retrospective Look at Bangladesh’s Financial Sector

Also Read – A Retrospective Look at Bangladesh’s Financial Sector: Part 2

Also Read – A Retrospective Look at Bangladesh’s Financial Sector: Part 3

A previous article argued that the banking system was the main source of financing for private investment in Bangladesh, so it was concluded that the deposit and advance markets are the most important in the financial sector.

The capital market provides little financing for private investment.

Major players

There are four players: banks, central bank, depositors and borrowers.

Two markets, for deposits and for loans; and an intermediary organization, and the banks.

The central bank sets the main rules for banks to follow.

In Bangladesh, there are seven types of banks or quasi-banks:

1. Private banks operate according to Western rules and principles. These make up the bulk of the system. The functioning of these banks is at the heart of the banking sector.

2. Private banks that operate on the principles of Islamic finance. The basic idea is that interest charges are immoral; the loan to a company of a bank of the Islamic system establishes a claim on the profits made by the borrower. The depositors participate in the profits of the bank.

3. Non-bank financial corporations, including leasing companies, housing-oriented companies, all characterized by being allowed to accept only large deposits. Depositors are at greater risk.

4. Private foreign banks. These banks are branches of banks headquartered outside of Bangladesh. They take mostly deposits in current account.

5. State-owned commercial banks. There are five major banks in this category. All of them are insolvent, but depositors rightly believe that the government will always protect their money so that the financial condition of these banks does not discourage many small depositors who value access through the large branch chains that these banks do. have established.

6. Public banks which have a specialized department for loans, for example for agriculture or industry. These banks are relics of the past; they are currently insolvent and subsidized by the government. They contribute little to the financial sector.

7. Micro-credit institutions that receive funds from NGOs, international aid organizations or the government. These organizations provide small loans to households with a large percentage of the portfolio loaned to women. These institutions are characterized by high interest rates [compared to the lending rates of banks] and high recovery rates

Depositors are the general public and companies who have financial resources and prefer to invest safely and return to bank deposits.

The deposit market is pretty straightforward.

A deposit is made regardless of the type, location and bank chosen by the saver.

The bank has a schedule of interest rates for deposits.

However, depositors perceive different levels of risk associated with different banks.

Current regulations require that the interest rate on term deposits held by individuals, unlike businesses, be adjusted monthly to ensure that the deposit rate is greater than or equal to the rate of inflation.

The rate is set at the time of deposit and of course remains unchanged throughout the duration of the contract.

The inflation rate used is the 12-month average of the Consumer Price Index.

Tables 1, 2 and 3 provide an overview of deposits in the banking system in June 2021.

Table 1 compares the deposits of the entire banking system with private banks.

Table 2 breaks down the ownership of deposits at all banks, also showing the share of term deposits in total deposits.

Table 3 covers private banks, including Islamic practice banks [Bangladesh Bank has classified the deposits in Islamic practice banks matching the categories.]

The total deposits amount to Tk 14 trillion, two thirds of which are held in private banks.

Table 2 shows that 82% of deposits are held by the private sector, of which 21% of accounts are held by private non-financial corporations, 6% by financial corporations and 49% by households.

Term deposits represent 45% of total deposits. 50% of term deposits are held by households and 17% by private companies.

Regulation of minimum interest rates

In recent months, the central bank has regulated minimum interest rates on term deposits held by households.

This covers 22% of all deposits and 18% of private bank deposits.

Such restrictions on deposit rates, combined with the likely increase in the rate of inflation, will increase the cost of funds and hence the cost of loans.

In addition, the increase in government borrowing is pushing up the yields on treasury bills and bonds.

This will cause banks to raise rates on other deposits not subject to central bank regulation.

The result will be a larger increase in the interest rates paid to depositors.

But the 9% cap on lending rates preventing higher lending rates despite higher deposit rates will put enormous pressure on private banks to maintain capital requirements and make profits.

State-owned banks are allowed to circumvent the rules usually required to ensure sound banking.

Private banks are subject to stricter rules.

The combination of a rise in deposit rates and a cap on interest rates will cause serious damage to all private banks.

The consequences are repeated in the following article.

The impact of inflation on deposit rates will come slowly.

The increase in international prices combined with the high probability of a small depreciation of the Taka, will lead to higher Taka prices of imports and inflation of domestic prices.

It will take some time for international price increases to influence the CPI.

In addition, it will take at least a year for the increase in the CPI due to external inflation to be fully included in prices, as banks use a 12-month average for the inflation rate.

This leads to a slow rate of increase, but also as inflationary pressures subside, inflation will only decrease slowly.

High interest rates on term deposits should be expected for the next two years assuming rising global inflation can be brought under control.

The purpose of interest rate regulation is to ensure that holders of term deposits earn a positive return.

In fact, the result is not quite as expected by the Bangladesh Bank.

There is a 10% tax on interest income.

A 6% deposit rate actually only pays 5.4%.

If the inflation is 6%, the depositor still faces a constant deterioration in his wealth.

Can the Bangladesh Bank, through monetary policy, reduce the rate of inflation?

In recent years, inflation has been in the range of 5.5-6.5%.

The inability to reduce inflation to a lower level resulted from the growing government deficit.

Define the deficit as the sum of bank credit to the public sector plus increases in the outstanding amount of government-issued cash certificates.

The deficit thus defined increased by 80% from fiscal year 16/17 to fiscal year 20/21.

The CPI rose 21% during this period.

The definition of money (adjusted for receipts) increased by 58%. [This is related to M3 but is not the M3 as defined by Bangladesh Bank.]

To compensate for an increase in external inflation, a substantial reduction in the public deficit would be needed.

Given the strong development program underway, such a reduction is unlikely.

A significant increase in revenue collection will not be achieved. Non-payment of large amounts of foreign loans is unlikely.

It is very likely that:

(1) Global inflation will drive inflation up in Bangladesh.

(2) Deposit rates will increase by 3-5% over the next 12-18 months. They will fall over the next 12 months.

(3) Monetary policy will not be able to prevent external inflation.

(4) Private banks will need capital injections as their capital erodes. Bank dividends will be limited. This effect is in addition to the impact of recognizing bad debt costs incurred during the pandemic.

Forrest Cookson is an economist who was the first president of AmCham and was a consultant for the Bangladesh Bureau of Statistics.

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Further into the desert: the endless fate of the left in Morocco Wed, 24 Nov 2021 19:22:32 +0000

The legislative and local elections in Morocco presented a golden opportunity for small left-wing political parties. The ongoing Covid-19 pandemic, its subsequent lockdown, and the perceived failure of the Justice and Development Party The government led by the (PJD) to adequately facilitate the socio-economic security of many Moroccans has given the opposition sufficient impetus to win more seats in the elections. More importantly, the new electoral law eliminated a 3 percent voting threshold required to secure parliamentary seats, which previously severely disadvantaged small parties. Instead, the distribution of seats is now proportional to the total number of eligible voters, not the votes cast.

Despite this, the leftists have performed poorly. For example, the United Socialist Party (PSU), the Socialist-Democratic Vanguard Party, and the Ittihadi National Congress, three left parties including the Democratic Federation of the Left (FGD), got only one seat each. One of the main factors has been the ability of the wealthier parties, especially the National Rally of Independents (RNI) – to mobilize volunteers and campaign across the kingdom to forge a strong anti-PJD narrative, ultimately leading to a huge protest vote. The left was also undoubtedly the author of its own loss: in July, Nabila Mounib’s PSU withdrew from the FGD due to disagreements over the selection of candidates on the Casablanca-Settat list.

The consequences have been threefold. First, it seriously undermined the ambition of the FGD parties to cultivate a united left alternative to the historic United Socialist Forces Party, which in recent decades has been seen as co-opted by the regime. Second, it meant that the PSU and the rest of the alliance clashed in some districts, further fragmenting the vote and reducing their chances of securing seats.

Third, Mounib’s unilateral decision has arguably undermined a major and distinctive quality of the left. Specifically, these parties prided themselves on presenting robust and democratic mechanisms internally with far-reaching grassroots reach, distinct from top-down and closed-off leaders like the Feast of Istiqlal and RNI. Mounib’s decision, not approved by the PSU’s central office, sparked strong internal opposition.

The implications for the left and Moroccan politics in general are glaring. Mounib’s pre-election actions and the FGD’s failure to make inroads into a second major electoral test (winning just 2 seats in the 2016 election) leave the left fragmented, logistically weak and without voter confidence. The remaining alliance will likely be disbanded soon given these persistent failures. Future attempts at reconciliation could also suffer from Mounib’s actions and the possible resentment she has accumulated, making reconciliation long and arduous.

In addition, internal struggles and fallout during the campaign damaged perceptions that the left offers an inclusive democratic alternative. Such perceptions would further hamper the parties’ limited capacities to gain popular support and capture the interest of many who are disappointed with Morocco’s formal politics.

Youth participation in elections remains woefully low at 8.35 percent. Traditionally, leftists, especially the PSU, have sought to appeal for the minimum youth vote. However, many vote tactically and would prefer to support the big parties better placed to overthrow others like the PJD or the Party of Authenticity and Modernity (PAM); leftists are seen as a wasted vote.1

This trend is likely to continue. The aforementioned implications of the left’s performance will further alienate young people, which is ultimately doomed to fail, as many young people will continue to feel disenfranchised from formal politics. This is crucial given years of struggles over youth and socio-economic security, now exacerbated by the pandemic. Indeed, feelings of exclusion strongly fueled the movement of February 20, 2011 and the street mobilisations against the status quo.

As for broader politics, the poor performance of the left only reinforces a blow from the Makhzen (Arabic term used by Moroccans to designate the palace and its allies). The overwhelming victory of pro-palace and co-opted parties like the RNI, PAM and Istiqlal as well as the defeat of the independent PJD made the left the only remaining independent opposition within formal Moroccan politics. With weak parliamentary representation and an internal divide, they likely won’t be able to offer meaningful opposition in policymaking after all. This further guarantees free reign for the new government and, by default, the palace to enact legislation as it sees fit.

This does not automatically lead to socio-political stability for the regime. Unpopular legislation, failures in tackling the fallout from the pandemic, and a perceived extended relationship between the government and the Makhzen can generate popular resentment. However, in light of the continuing inadequacies of the left, this is more likely to manifest itself on the streets than within the policy-making avenues.

Christopher J. Cox is a doctoral researcher based at the Institute of Arab and Islamic Studies at the University of Exeter. His doctoral research focuses on youth and political engagement in Morocco.

To note

1 Based on the results of the author’s doctoral research conducted in Morocco.