THE WORLD may turn bleak without good governance. “A new dark age could descend in some regions where tyrants abuse their subjects and where jihadists or criminal gangs roam freely to terrorise dispossessed populations.” Or so say Nathan Gardels and Nicolas Berggruen in “Renovating Democracy.” The book is a romp through all that’s going wrong with politics, from populists on the rise, robots stealing jobs, climate change being ignored and technocrats bereft of fresh ideas. Helpfully, the pair focus on solutions, from “universal basic capital” (financial support from the state so people invest) to finding common ground between China and America to ensure stability. Without this accord, they foresee “swaths of pandemonium” that “surround gated outposts that are linked to one another but [are] divorced from their planetary hinterland in a kind of global apartheid system.” Get our daily newsletter Upgrade your inbox and … [Read more...] about Democracy is floundering: we need to fix it or lose it
Mutual fund year end distributions
When stocks hit record highs, the first thing lots of investors do is get worried.But what if you could find reliable indicators of when stock prices are likely to fall?Citigroup investment strategist Robert Buckland has just what you're looking for.He maintains a bear market checklist that includes 18 key data points. Here's what they say now. With the stock market now up more than 25 percent since its late 2018 low point, many investors are wondering what's next. Is this as good as it will get, and will the coming move be downward? Some even worry that a bear market -- a 20 percent drop from the recent highs, which the S&P 500 came close to in December -- will shortly follow, taking down 401(k) accounts and hard-earned savings. There's good reason to worry, too. While the U.S. has remained a global bright spot (posting a 3.2 percent annualized growth rate in the last quarter), economies in other countries remain sluggish or are slowing. Diminishing global growth could drag down … [Read more...] about Is this record-setting stock market setting up investors for a fall?
Sputnik: The European Parliament endorsed a provisional agreement reached by co-legislators on the future European Defence Fund (EDF) for the next budget period spanning 2021 to 2027. What is the significance of this agreement? Anneke de Laaf: When EU President Juncker first announced the creation of the European Defence Fund in his State of the Union speech in 2016, he spoke of an EU in an existential crisis. Remember, this was right after the Brexit vote. He worried about the lack of unity, the rise of 'populism' and fragmentation, but mostly about Europe's diminishing role on the world stage, in politics, technological innovation and the economy. © AFP 2019 / Petros KaradjiasEU Parl't Votes to Spend €13 Bln to Create ‘Disruptive’ Tech, Cutting-Edge WeaponsHe called for a long term vision and a positive agenda on concrete European actions, a.o. for "a Europe … [Read more...] about €13Bln EU Defence Fund: A Routine Move or Step Toward Creating European Army?
The net assets of the 203 open and closed funds, local and foreign, rose 2.4 percent in February to RON 42 billion (EUR 8.8 billion), registering an increase of 0.1 percent since the beginning of the year, while the net outflows of the month totaled RON 207 million (EUR 43.7 million), according to the Association of Fund Managers (AAF). In January, the net assets of the 206 open and closed funds, local and foreign, decreased by 2.2 percent to RON 41 billion (EUR 8.7 billion), while the net outflows of the month totaling RON 381 million (EUR 81.1 million). The net assets of the 80 local open-end funds were in February at a level similar to that in January, i.e. RON 21.4 billion (EUR 4.5 billion), while the current year’s decrease was 0.8 percent. Local open-end funds recorded net outflows of RON 191.2 million (EUR 40.3 million) in February, with fixed and fixed income (RON 88.6 million) funds, those under the ‘other funds’ (RON 48.7 million), the diversified ones (RON … [Read more...] about Mutual funds net assets rose by 2.4 percent last month to RON 42 billion
Pago Pago, AMERICAN SAMOA — A draft copy of a proposed Memorandum of Agreement (MOA) between the ASG, the American Samoa Economic Development Authority (ASEDA), and ASTCA was recently received by Samoa News. Although the draft indicates Jan. 31, 2019 as the MOA’s effective date, Samoa News has been unable to confirm to date if it has been signed by the parties involved, particularly if two other agreements mentioned in the document - an ”Extinguishment Agreement" and a “swap agreement” have not already been approved and signed. Samoa News should point out that the MOA would appear to rely on these two agreements being a “done deal” at the time the MOA is signed. The Extinguishment Agreement, if signed, terminates the American Samoa Government Employees Retirement Fund’s (ASGERF) ownership of the AS Hawaiki Cable by accepting the payments ASGERF received from ASEDA, to resolve ASTCA’s obligations to the Retirement Fund. … [Read more...] about Draft MOA concerning Hawaiki Cable debt raises many questions