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- PML rules: BSE seeks update on clients’ Aadhaar nos
- Look how debt funds are making money amid falling interest rates
- Hopper app uses predictive pricing tech to find NYC hotels
- George rides Metro to meet Adichunchanagiri seer
- #10: Guitar Picks Guitar Capo Quick Change Acoustic Guitar Accessories Trigger Capo Key Clamp Black With Free 6 Pcs Guitar Picks
- Minister Manoj Sinha says there is no job crisis in telecom. Here’s a reality check
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- Two men held in Kannur over suspected IS links
- Stir over Mutt head’s sexual exploits
- #9: Bodum Coffee Maker, Pour Over Coffee Maker with Permanent Filter, Black Band, 34 Ounce
- #7: Sukkhi Stylish Gold Plated Collar Necklace set For Women
- #8: Pilot V5 Liquid Ink Roller Ball Pen – 2 Blue + 1 Black
- Stir over Mutt head’s sexual exploits
- Facebook opens its Workplace Chat desktop app to everyone
- #9: Rawlings 2017 Official MLB World Series Dueling Game Baseball in Cube (Los Angeles Dodgers vs Houston Astros)
- #4: Twilight Fan Ultimate Gift Package Includes Socks, Buttons, Keychains, Bookmark, Pen, Jelly Bracelets, Bandages, Bag Clips, and Dog Tags
- STMicroelectronics rises 5.3% following third-quarter earnings report
- Nordea Bank shares fall 4.6% after third-quarter earnings report
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- #9: Roman Holiday
- #10: Paranormal Activity: The Ghost Dimension (3D)
- Barclays shares drop 3.9% after third-quarter earnings figures
- Nokia shares tumble 11% following quarterly earnings report
- #10: Tata Tea Gold, 500g
| PML rules: BSE seeks update on clients’ Aadhaar nos Posted: 26 Oct 2017 02:11 AM PDT To ensure compliance with anti- money laundering rules, BSE today asked its brokers to submit details about preparedness for furnishing Aadhaar details of their clients by month-end. This follows the government’s amending in June the Prevention of Money Laundering (Maintenance of Records) Rules with regard to collection of Aadhaar number from clients. In a circular, BSE has asked its stock brokers to submit a report with details about their preparedness, number of active clients and the number of clients who have complied with submitting Aadhar numbers. “Members are requested to submit/update the details by October 31, 2017,” BSE (formerly known as Bombay Stock Exchange) said. “The number of clients complied to be mentioned should be the cumulative number of clients who have complied with submitting Aadhaar numbers,” it added. In the case of companies, a manager, officer or employees holding “attorneys to transact” on a company’s behalf have to submit their Aadhaar details. With regard to partnership firm, trust and unincorporated association or body of individuals, the person holding attorney to transact on the entity’s behalf has to provide Aadhaar details to the exchange. Also, BSE said that it is required to report to the markets regulator Sebi on the preparedness of the trading members with respect to compliance with the amended rules. In compliance with the amended PML norms, banks have already sought Aadhaar details from their customers. Last month, Sebi had asked stock exchanges to submit a monthly progress report on collection of Aadhaar numbers by its members. “…the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 has been amended as per the gazette notification dated June 1, 2017, inter alia, to provide for submission of Aadhaar number, where the client enters into an account based relationship with reporting entity,” BSE had said. |
| Look how debt funds are making money amid falling interest rates Posted: 26 Oct 2017 02:11 AM PDT By Bhavna Acharya Debt funds have to balance two aspects – first, deliver higher returns and second, keep credit risk in check. With interest rates dropping, these funds have picked up the potential in state development loans that have higher coupons but without higher credit risk. Though state development loans (SDLs) do not come with explicit guarantees, these bonds are generally perceived to have minimal credit risk. Therefore, funds also tick the second box of maintaining portfolio credit quality as well. SDL share climbs up Within the debt fund space, only certain types of funds have gone in for SDLs. This is because, for one, their low credit risk means they do not feature on the radar of credit opportunity funds. Two, their relatively longer maturity periods rule out interest on the part of liquid funds. SDLs are held mostly for coupon accrual, unlike sovereign bonds. Sovereign bonds, by virtue of their liquidity, are used to make money on bond price rallies. Actual coupon on these bonds is low. SDLs, on the other hand, do not have the depth of the gilt market despite presence of foreign and domestic institutional investors. By and large, therefore, it has been ultra short-term, short-term and income funds that held on to SDLs. These funds work on the accrual strategy and, therefore, SDLs fit the bill. Ultra short-term funds, in fact, had jumped on to the SDL opportunity long before other debt funds, with share of SDLs around 5-7 per cent of the category's AUM even in 2014. The share of SDLs in debt fund portfolios has been on the rise in the past few years. Income funds, for example, had zero to minimal holding in these instruments in 2014. The share climbed gradually up to 10 per cent of the total income fund AUM by September 2017. Similarly, several short-term funds have picked up on SDLs, with the share of AUM holding steady around 10 per cent in the past four months. Dynamic bond funds saw a sharp spike in SDLs in February this year, a level that held for two months before reversing lower. This is attributable to a few funds suddenly deploying a large chunk into these bonds following the unforeseen shift in monetary policy stance. Some debt-oriented and equity-oriented hybrid funds also hold SDLs, though the share here is minimal. With coupons on several of these instruments higher even than some of the top-rated corporate bonds, they are held for accrual purposes. For example, in the portfolios of income fund today are papers due in 2021 of Rajasthan state that pays a coupon of 8.39 per cent, slightly above an 8.36 per cent Power Finance Corp paper due in 2020, or a 7.17 per cent NHAI 2021 paper. There's an 8.52 per cent Uttar Pradesh SDL and am 8.76 per cent Maharashtra SDL. SDLs of different maturities and different states carry varying coupons. Mixing these up help funds maintain portfolio credit quality while trying to diversify portfolios away from corporate bonds. Rules capping portfolio exposures to individual companies, corporate groups, and sectors also mean that funds need newer investment avenues, which SDLs provide. It remains to be seen how these instruments are used under the Sebi's new categorisation, which introduces several new debt fund types. |
| Hopper app uses predictive pricing tech to find NYC hotels Posted: 26 Oct 2017 02:07 AM PDT
Source: engadget |
| George rides Metro to meet Adichunchanagiri seer Posted: 26 Oct 2017 02:03 AM PDT Bengaluru Development and Town Planning Minister K J George took the Metro from CMH Road to the Hosahalli station on Thursday. The minister interacted with the commuters and learnt about their travel experience. George was on his way to Adichunchanagiri Mutt to meet Nirmalanandanatha Swami. George used the Metro on his return journey as well, to the Baiyappanahalli station. Source: DH |
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| Minister Manoj Sinha says there is no job crisis in telecom. Here’s a reality check Posted: 26 Oct 2017 01:46 AM PDT When Telecom Minister Manoj Sinha said there was no problem of jobs in the sector, probably he was unaware of thousands of employees preparing to go home. India’s telecom sector has been in stress for quite some time. Cost-cutting and consolidation are major threat to jobs. What the minister said Yesterday, when asked about the jobs that could be lost when companies such as Reliance Communications (RCom) shut shop, Sinha said, “There is no problem of jobs. Look at the number of stores being opened by Jio. To say that jobs are reducing is untrue and far away from the truth.” He said rapid consolidation would stabilise the sector, and that the entry of Reliance Jio had in fact added to employment. Sinha’s optimism about the jobs scenario in the telecom sector may be based on longer term. Right now, a lot of employees are living in fear. The job-loss scare is real After 30 days, a number of Reliance Communications (RCom) employees could be looking for another job. The company is believed to be closing down major parts of its wireless business. The Tata Group is selling its mobile business to Bharti Airtel, which might lead to some job losses. In June, Reliance Communications Chairman Anil Ambani said the country’s telecom sector had cut 10,000 jobs last year, and the ongoing stress would further lead to reducing 30,000-40,000 jobs more this year. In February this year, ET spoke to more than a dozen analysts, recruiters and company executives who said telecom employees were scared about jobs being on the line despite assurances. An HR head said 10,000-25,000 jobs were at risk. If those indirectly employed are also added, the number could rise to as much as 1 lakh. What is the remedy? The telecom industry, struggling under a burden of nearly Rs 5 lakh crore of debt amid brutal price competition, has been seeking government sops for financial relief. Apart from increase in tenure of payments for auctioned airwaves and lower interest on dues, industry also wants lower annual licence fees and spectrum usage charges. According to an expert, nearly half the sector debt is in the form of deferred spectrum liabilities to the Department of Telecommunications. The government has formed an inter-ministerial group (IMG) to look into the issues faced by the sector. The IMG has reportedly recommended to the Telecom Commission that the period of deferred spectrum liability payment be increased to 16 years from the current 10 years. Another recommendation by the IMG is that the telcos may be allowed to pay for the spectrum with interest calculated marginal cost of funds-based lending rate rather than the prime lending rate. Why should the government step in? India's telecom sector–once the poster child of the country's economic progress–is in dire straits, battling brutal price competition and grappling with unsustainable levels of financial stress. The Reserve Bank has directed banks to keep especially close watch on telecom loans amid the erosion of profitability. While financial stress led to cost-cutting which included layoffs, now the consolidation in the sector is also likely to cause huge job losses. The health of telecom sector is vital for the Indian economy. According to the Annual Report 2016-17 of the Department of Telecommunications, the telecom industry in India currently contributes 6.5 per cent ($140 billion) to the country’s GDP, and employs over four million people (directly and indirectly). The government can either keep treating the sector as just another big source of revenue or help it survive the crisis. Moreover, if outstanding debt of the telecom sector goes sour as bankers fear, that would add majorly to the banks' already grown bad debts. |
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| Two men held in Kannur over suspected IS links Posted: 26 Oct 2017 01:43 AM PDT Two men were arrested in Kannur on Thursday over suspected links with the Islamic State (IS). Hamza and Manaf, from Thalassery in Kannur district, were arrested a day after the police arrested three other suspected IS operatives. The police said Hamza was involved in the recruitment of operatives for the terrorist outfit. Kannur DySP P P Sadanandan said Hamza had worked in the Gulf for about 20 years. “Manaf who was preparing to leave the country for Syria was earlier stopped at the Mangaluru Airport and sent back,” Sadanandan told reporters. The Valapattanam Police had on Wednesday arrested three men – Rashid M V, Abdul Razzaq and Mithilaj K C – following a period of surveillance. The police said the men were stationed in Turkey and were trying to enter Syria when they were intercepted by the Turkish authorities and deported to India. They had lived in Istanbul for four months. The three men were booked under the Unlawful Activities (Prevention) Act. The arrest of five men in Kannur over two days also assumes significance considering that it comes a year after the National Investigation Agency (NIA) arrested from the district six men who were involved in the Omar Al-Hindi IS module. The NIA charge sheets in the case said the accused had plans to collect explosives to target “prominent people and places of public importance” in south India. Source: DH |
| Stir over Mutt head’s sexual exploits Posted: 26 Oct 2017 01:43 AM PDT Village residents and devotees held a protest outside the Jangamamutt, against the sexual exploits of Mutt head, Dayananda Swami. The devotees thronged the Mutt premises after a video of the Swami involved in a sexual act with a woman being telecast on TV channels. As people tried to barge into the Mutt, the police stopped them. This led to a war of words between the police and the devotees. The protestors also alleged that the Mutt head had misappropriated Mutt property. Source: DH |
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| Stir over Mutt head’s sexual exploits Posted: 26 Oct 2017 01:38 AM PDT Village residents and devotees held a protest outside the Jangamamutt, against the sexual exploits of Mutt head, Dayananda Swami. The devotees thronged the Mutt premises after a video of the Swami involved in a sexual act with a woman being telecast on TV channels. As people tried to barge into the Mutt, the police stopped them. This led to a war of words between the police and the devotees. The protestors also alleged that the Mutt head had misappropriated Mutt property. Source: DH |
| Facebook opens its Workplace Chat desktop app to everyone Posted: 26 Oct 2017 01:37 AM PDT
Source: engadget |
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| STMicroelectronics rises 5.3% following third-quarter earnings report Posted: 26 Oct 2017 12:22 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.    
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| Nordea Bank shares fall 4.6% after third-quarter earnings report Posted: 26 Oct 2017 12:22 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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| Barclays shares drop 3.9% after third-quarter earnings figures Posted: 26 Oct 2017 12:12 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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| Nokia shares tumble 11% following quarterly earnings report Posted: 26 Oct 2017 12:12 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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