whatsapp Opinion Ed SmithEd Smith is head of asset allocation research at Rathbones. Tags: Indian economy Today, India’s economic policy is the worst of both worlds. It is heavily protectionist, with politicised and poorly run state-owned banks, but it lacks visionary central planning, with the global, long-term focus of Korea or Taiwan. Ostensibly capitalist, it lacks the institutions necessary to support the efficient allocation of capital, such as functioning bankruptcy laws or a corruption-free judiciary.Worst of all, it is mired in layer upon layer of municipal, state and federal bureaucracy – which Modi, despite his promises, has made disappointing progress in reducing.One way or another, India needs serious economic reform if it is to attract investment and turn its economy around. And if that economic reform takes on a subtle authoritarian hue, that may be no bad thing – if (and it’s a big if) it’s done right. With the world’s largest General Election now fully underway, more and more people are expressing concern of a national impasse in India: a crossroads in terms of social, economic, and perhaps even constitutional identity.Since Prime Minister Narendra Modi came to power in 2014, questions around India’s economic potential have become inextricably linked to issues around the pattern of its politics – in particular, debates centred on authoritarianism. Tuesday 14 May 2019 7:04 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oraclebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStory Share City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp India’s economic reform needs a little more authoritarianism Autocracy tends to be associated with a deficient rule of law and socio-political abuse, often with militarian tendencies. It goes without saying that this should be vehemently opposed.But could India’s economy do with a little more “authoritarian” direction? Or rather, is the Indian economy in need of a little more central planning?Like China and the former Soviet Union, India used to have five-year plans, between 1951 and 1997. During this period, it sustained real growth rates of four per cent a year, thanks to a large demographic dividend and the process of bringing subsistence farmers into the industrial economy.But central planning created a bureaucratic chimera, inhibiting innovation and efficiency. As the world became more integrated, India’s central planners forgot about the need to be competitive on the international stage. Between 1950 and the early 1990s, India’s share of world trade fell from 2.5 per cent to 0.5 per cent as it became increasingly protectionist.For most of the western world, “central planning” remains a dirty term. Until the financial crisis, the Washington Consensus reigned supreme, with the dictum that the “freest” economies were the best economies. Even as capitalism has come under closer scrutiny in the past decade, statism remains treated with deep suspicion. Yet the economic history books tell us that central direction was behind three of the greatest economic success stories of twentieth-century development: Japan in the first half of the century, and South Korea and Taiwan from the 1960s to the 1980s.Korean and Taiwanese industrial policy extended well beyond the limits of genuinely pluralistic government. These were corporatist states, in which certain industrial giants were favoured over smaller interest groups.By the 1980s, the 10 largest Korean conglomerates, or “chaebols”, accounted for two thirds of Korean GNP, up from a third in the 1970s. The economic mechanism at work was the authoritarian use of the state to raise the investable surplus, directing it to industries and firms that could sustain higher wages in the future.The results were intense cycles of investment, sustained even as the global economy turned down, which led to a rapid rise in the demand for labour and a surprisingly wide distribution of the benefits of growth.Of course, there are many more examples of central planning going horribly wrong. What separated Korea and Taiwan (and previously Japan) from the rest was not only an outward-looking, global focus and a coordinated attentiveness to the long-term economic issues, but also the particularly active involvement of the centralised state.
Public Safety | Southeast | Tourism | TransportationNearly 30 people hurt in Skagway tour accidentAugust 10, 2017 by Abbey Collins, KHNS-Haines Share:Nearly 30 people were injured Wednesday on a tour in Skagway.According to a news release from the city, a Unimog touring vehicle went off the road about 11 a.m. at the Alaska Excursions Dog Camp.The Skagway company offers tours of a musher’s camp in Dyea.The fire department and EMS volunteers responded to the scene of the accident at 10-mile Dyea Road.Twenty-five of 28 people transported to the local Dahl Memorial Clinic were treated and released. Three were medevaced to receive further treatment.According to the clinic’s executive director Shelly O’Boyle, injuries ranged from bumps and bruises to several broken bones and a few head injuries.The clinic’s emergency plan was activated to respond to the accident.It’s the first time that measure has been taken in a couple years.In 2014, 23 people were injured when a White Pass and Yukon Route Railroad train derailed.The fire department and municipality declined to provide any information beyond the limited press release.Share this story:
Thursday 4 December 2014 9:01 pm David Hellier whatsapp Show Comments ▼ Crisis at the FCA as top regulator Clive Adamson departs Share Tags: FCA by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramHero Wars This game will keep you up all night! Hero Wars MoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For Seniors Some of the City’s most senior insurance executives last night expressed their dismay at the departure of Clive Adamson from the Financial Conduct Authority (FCA).Adamson was widely respected within the industry for being a tough but fair regulator. The news that he is to step down comes days ahead of the publication of a report on the watchdog’s handling of a botched media briefing on closed book legacy business earlier this year, which resulted in the regulator being publicly reprimanded by chancellor George Osborne. “It’s been rumoured for a while that he would take the rap for the debacle over the leak,” said a source from one leading insurer last night. “But Clive seemed like the one bit of good sense there is around there.”Nigel Wilson, chief executive of Legal & General, while not commenting about the circumstances behind Adamson’s departure, praised his professionalism. “Adamson’s departure is a sad day for the FCA. He will be a loss to regulation in the UK. He’s somebody that always listened to what the industry said, but was tough and quick to discuss problems.”Adamson, director of supervision and a board member at the FCA, has overseen the financial services industry since 2007, when he joined the Financial Services Authority as a senior adviser. In March, a report in the Telegraph claiming that the FCA was planning an inquiry into 30m pension and investment policies, which named Adamson as the source, wiped billions off the market value of various insurance companies. In the 24 hours following the botched briefing, Aviva’s share price tumbled by three per cent, L&G’s by 3.5 per cent, and Resolution’s by seven per cent. Phoenix at one stage saw its shares plunge by 21 per cent. Last night, two separate sources said they understood that Adamson had not been responsible for the controversial briefing to the media.George Osborne made his disapproval over the leak known at the time, and wrote to the FCA saying he was “profoundly concerned” by the event.The regulator later clarified that the review would have a narrower focus. However, Osborne also called on the FCA to explain why its clarification statement was “issued so late” the day after the story was published. The results of an inquiry into the issue, led by Simon Davis, partner at Clifford Chance, are expected next week.Earlier this year, Adamson was forced to defend his decision to back the appointment of Paul Flowers, disgraced ex-chairman of the Co-op. Adamson admitted to a Treasury Select Committee in January that it was clear in his interview with Flowers in 2010 that he had no banking experience.Adamson was seen as having more of a relationship of equals with insurance firms than FCA boss Martin Wheatley. Several insurers have expressed disquiet with Wheatley’s trigger-happy approach, made famous by his claim that he would “shoot first and ask questions later” in his role at the regulator.Sources close to the matter told City A.M. that a strained relationship existed between Adamson and Wheatley, and added that Adamson had been made to take the fall for the leak fiasco. In the aftermath of that incident, Wheatley faced numerous calls for his resignation and admitted that it was “clearly not the FCA’s finest hour”. The FCA declined to comment. whatsapp
Related news ESMA examines short-termism European securities regulators on Thursday launched a consultation on draft guidelines to accompany new rules designed to combat abusive trading. The European Securities and Markets Authority (ESMA) has issued a consultation paper on draft guidelines for the implementation of new rules, known as the market abuse regulation, which aims to strengthen the existing regulatory framework by extending it to new markets, platforms and trading behaviours. The rules also contain prohibitions for insider dealing and market manipulation, and provisions to prevent and detect these sorts of abuses. James Langton Share this article and your comments with peers on social media Facebook LinkedIn Twitter EU regulators warn financial firms to prep for Brexit Keywords Europe European regulators outline fintech best practices The guidelines focus on the application of the new regime to industry personnel that receive information designed to gauge investor interest in a possible transaction, the regulator says in a statement. They also clarify what constitutes inside information, and when brokers and others are considered to be in possession of inside information, among other things. The guidelines aim to address when issuers can legitimately delay the disclosure of inside information, and to clarify when delays are likely to mislead the public. ESMA hopes to publish a final report by early in the third quarter. The new market abuse rules will take effect in July. ESMA is also preparing a consultation paper on another set of guidelines dealing with the application of the new rules to commodity derivatives.
FacebookTwitterWhatsAppEmail Minister of State in the Ministry of Mining and Telecommunications, Laurence Broderick has emphasised that quarrying is an important and viable business, supplying the needs of the building and construction sector.He also pointed out that quarrying of several of the nation’s rivers, especially those in the eastern section of the country, has been necessary in order to control siltation and limit the possible impact of flooding.“The siltation of the rivers has, in several instances, gotten worse and hence the need to constantly remove the accumulated material or risk the devastating impact of flooding, which would have been complicated by silted channels,” Mr. Broderick said.The State Minister was making his contribution to the 2008/09 Sectoral Debate in the House of Representatives on July 9.He said that while quarrying is very important, it is now necessary to rationalise between sand quarrying and river training. “This is especially so, since it is often very difficult to distinguish between the two,” Mr. Broderick added.“We have to prevent damage to adjoining lands, private property and public infrastructure caused by poor quarrying practices. Illegal quarry operations will not be tolerated, and the Security Forces will be deployed to respond to these activities,” the State Minister said. RelatedState Minister Highlights Importance of Quarrying RelatedState Minister Highlights Importance of Quarrying RelatedState Minister Highlights Importance of Quarrying State Minister Highlights Importance of Quarrying UncategorizedJuly 14, 2008 Advertisements
JBDC Commended for Assisting MSMEs UncategorizedDecember 7, 2008 RelatedJBDC Commended for Assisting MSMEs RelatedJBDC Commended for Assisting MSMEs Advertisements FacebookTwitterWhatsAppEmail Minister of State in the Ministry of Industry, Investment and Commerce, Michael Stern has commended the Jamaica Business Development Corporation (JBDC), for its role in creating promotional opportunities for micro, small and medium enterprises (MSMEs).Speaking at the launch of the JBDC’s Christmas fair, Kumba Mi Yabba, on December 3, the State Minister lauded the Corporation for “creatively embracing the spirit of the Jamaican Christmas traditions, by providing a welcome opportunity for MSMEs to showcase and market their products.”He noted that this year’s staging of Kumba Mi Yabba assumes even greater significance, with the continuing threat posed by the international financial meltdown and prospects of a slowdown in economic activities here in Jamaica.Kumba Mi Yabba, Minister Stern highlighted, “is a creative and effective medium for the involvement of MSMEs in the spirited commercial atmosphere that the Christmas season presents.”He added that participation in such activities would provide the sector with the energy and motivation required to drive success and profitability.The State Minister pointed out that Kumba Mi Yabba, “harmonises with the Government’s commitment to promote the sector as a crucial part of our strategy to build the economy, generate employment, alleviate poverty and empower our people.”“We recognise that micro and small enterprises are crucial to economic development, because of their role in the production and distribution of goods and services and in enhancement of innovation, productivity and economic competitiveness,” Mr. Stern said.He pointed out that the JBDC continuously facilitates the sustainable development of the MSMEs in Jamaica, by assisting clients, especially start-up businesses, to make efficient links with both Government and private sector agencies, while providing expert guidance in the process of entrepreneurship.Kumba Mi Yabba will be held at the Ranny Williams Entertainment Centre in Kingston, from December 19 to 21.The JBDC led event provides a platform for local producers and manufacturers of innovative and indigenous products and services to showcase their merchandise. Additionally, the show provides the medium for entrepreneurs to access a wider market, both locally and overseas. RelatedJBDC Commended for Assisting MSMEs
FacebookTwitterWhatsAppEmail Jamaica’s Minister of Information, Culture, Youth and Sports, the Honourable Olivia “Babsy” Grange, has accepted an invitation from CARICOM to be the Minister of Culture who will “lead, provide expert advice and ‘Champion’ the many issues on the culture agenda of the CARICOM Region.”A letter to Minister Grange from CARICOM Assistant Secretary-General for Human and Social Development, Dr. Edward Greene, said the 19th Meeting of the Regional Cultural Committee held in Guyana last year was unanimous in its view that given the depth of Minister Grange’s experience, expertise and vision for cultural development, she would make “an excellent Champion for Culture in CARICOM.”The CARICOM Assistant Secretary-General said it had been recognized by culture officials and stakeholders alike that the Region was at a critical juncture in advancing the culture agenda within the Ministerial Councils of CARICOM and with Heads of Government of the Community.He said the main areas to be addressed would be cultural industry development and the launching of the regional Task Force on Cultural Industries; the CARICOM Single Market and the free movement of artists and cultural workers in the Community; culture and the negotiation of trade agreements; implementing the strategic plan to restructure CARIFESTA and financing culture on a long term basis.Dr. Greene said it was felt that the time was right to secure the commitment of CARICOM member states for concrete actions to advance cultural development in the Region.In accepting the responsibility to be the Minister of Culture to champion culture in CARICOM, Minister Grange said she was honoured by CARICOM’s confidence in her ability to carry out the mandate defined by the Community.“I have always regarded culture as being among the most important pillars for economic development in CARICOM. The Region has my commitment to work with everyone to intensify our efforts to build the cultural industries,” Miss Grange said.Prime Minister Bruce Golding has fully endorsed Minister Grange’s role as the Champion for Culture in CARICOM. RelatedMinister Grange is ‘Champion’ for Culture in the Caribbean Community Minister Grange is ‘Champion’ for Culture in the Caribbean Community CultureMarch 27, 2009 RelatedMinister Grange is ‘Champion’ for Culture in the Caribbean Community RelatedMinister Grange is ‘Champion’ for Culture in the Caribbean Community Advertisements
New Cairns State High sports complex readies for kick-off Premier and Minister for Trade The Honourable Annastacia PalaszczukWork is almost done on Cairns State High’s new $12 million Centennial Hall: Sports and Arts complex that will commemorate an Indigenous elder from more than 100 years ago.Premier Annastacia Palaszczuk today inspected the complex with Assistant Minister for Tourism Industry Development and Member for Cairns Michael Healy.The complex is to be called Bou-wa – the Centennial Hall, named after a Yidinji elder at the time the school was established in 1917.“It’s great to return to the Far North and see the result of the funding commitment I made here three years ago at Cairns State High’s centenary celebrations,” the Premier said.“My government is deeply committed to providing world-class education to Queensland families, no matter where they live.“Our infrastructure spend in 2020-21 of $1.9 billion is also an investment in almost 4800 jobs for local tradies as we unite and recover from the impact of the pandemic.”The Premier said she was pleased to see the school community publicly celebrating the living culture of the Yidinji peoples in the complex’s name, which will extend to include other buildings on site over the coming 12 months.Member for Cairns Michael Healy said the complex’s planning and design has included local Yidinji elders and students.“Importantly, this project has also supported up to 36 important jobs for local tradies, and 12 apprentices,” he said.“Cairns State High School has and continues to play a major role in our communities’ development and has supported many thousands of students from all around our region, including the Cape, over more than a century.”Tradies are working hard to complete the flooring, signage and landscaping around the three-court complex, which major contractor Hutchinson Builders expect to be completed by the end of next month (February).As well as the three multi-purpose sports courts for basketball, netball and volleyball, Bou-wa can also be used as a performance and auditorium space for the school and will be a useful asset for the community.Executive Principal Chris Zilm said the Cairns State High community welcomed the new facilities which will support the school’s focus on wellbeing as well as the existing centres of excellence in basketball, music, dance, drama and visual arts.“Our students, staff and wider school community will all benefit from these new, modern facilities,” Mr Zilm said.“The name of the new complex reflects our school’s respect for our First Nations peoples and the land which we walk on together. It really is a celebration of our diversity and quality educational opportunities in the region.”The project also included relocating special education facilities into the heart of the school and improvements to the sports oval. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, basketball, Cairns, community, culture, education, Government, Indigenous, industry, infrastructure, Investment, Minister, Palaszczuk, pandemic, QLD, Queensland, students, wellbeing
Amidst ‘socio-political and human rights crisis’, independent expert condemns environmental defender’s death The United NationsAn independent UN human rights expert condemned on Monday the murder of an indigenous environmental defender in Nicaragua, calling for those responsible to be “duly investigated and brought to justice”.Mary Lawlor, Special Rapporteur on the situation of human rights defenders, explained that Nacilio Macario was slain on 14 November, allegedly killed by settlers while taking water and food to communities protecting their land on Nicaragua’s northern Caribbean coast.The UN expert urged the Government to investigate his killing, saying it has a responsibility “to ensure a safe and supportive environment for those who defend the environment and the rights of indigenous peoples in Nicaragua”.Combatting illegal exploitation Mr. Marcario, an indigenous Mayangna, who was originally from the Autonomous Region of the Northern Caribbean Coast, had campaigned against illegal gold mining and logging taking place in his community, according to the Office of the High Commissioner for Human Rights (OHCHR).“The Government has a duty to ensure a safe and supportive environment — UN expert“This time it was Mr. Macario who stood up for his land against the illegal exploitation of people associated with the extractive industry, but if those responsible are not duly investigated and brought to justice, these murders will continue to be carried out with impunity”, upheld the UN expert.“These attacks have occurred in a context of socio-political and human rights crisis, which has worsened since 2018”, said OCHA, adding that laws recently approved by the National Assembly further restrict the civic and democratic space.Guarantee freedoms The UN independent expert concluded by echoing UN High Commissioner for Human Rights Michelle Bachelet’s request that the Nicaraguan Government “guarantee the exercise of freedoms of peaceful assembly, expression and association; and publicly condemn and sanction any attack or intimidation against human rights defenders and community leaders, among others”.Ms. Lawlor is currently in contact with the authorities on this matter.David R. Boyd, Special Rapporteur on Human Rights and Environment, Dante Pesce (Chairperson), Anita Ramasastry, Surya Deva, Elżbieta Karska, and Githu Muigai, UN Working Group on human rights and transnational corporations and other business enterprises have also endorsed her statement.Special Rapporteurs are appointed by the Geneva-based UN Human Rights Council to examine and report back on a specific human rights theme or a country situation. The positions are honorary and the experts are not paid for their work. /UN News Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Assembly, business, Caribbean, Commissioner, community, environment, exercise, Government, Human Rights, Indigenous, industry, justice, Killing, Nicaragua, UN, un high commissioner
Hazard reduction burn in Southern Highlands The NSW National Parks and Wildlife Service (NPWS) is conducting a hazard reduction south east of Lake Nepean in the Upper Nepean State Conservation Area from midday, Wednesday 21 April. Smoke may impact visibility on the Hume Highway during the operation, and drivers are urged to take care.Around 3700 hectares will be treated. This part of the reserve was not directly impacted by fire last summer and it is important this burn goes ahead to help protect the Metropolitan Water Catchment and residents and businesses from future large fire events.Reducing fuel loads in the area will also help to maintain biodiversity by reducing fire intensity associated with summer bushfire events.Depending on conditions, other burns may also be carried out in the region next week so smoke may be visible in the area for several days.We thank our neighbours and visitors to the region for their understanding.People with asthma or who are susceptible to respiratory problems are advised to keep clear of the area or stay indoors.The hazard reduction burn will be a joint operation between NPWS and the NSW Rural Fire Service.All park and trail closures will be listed on the NPWS Alerts website.The Upper Nepean State Conservation Area burn is one of five hazard reductions the NPWS has planned in the Southern Highlands this autumn. They are just some of the many hazard reduction operations undertaken by NPWS across NSW each year.For health information relating to smoke from bush fires and hazard reduction burning, visit NSW Health or the Asthma Foundation. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Asthma, AusPol, biodiversity, bushfire, conservation, environment, future, Government, health, Impact, National Park, New South Wales, NSW, NSW Health, NSW Rural Fire Service, operation, Smoke, southern, website, wildlife