Posts Tagged ‘United Nations’

SEBI’s New Direction to All Stock Exchanges & Intermediaries !

Sebi Directs Intermediaries/Stock Markets on the matter of Terror Funding

Sebi Directs Intermediaries/Stock Markets on the matter of Terror Funding

Market regulator SEBI has directed all stock exchanges and other securities intermediaries to keep a strict watch on UN-listed terror funding entities, including the famous underworld don Dawood Ibrahim.

The Securities and Exchange Board of India has asked the securities intermediaries to inform the Union home ministry within 24 hours if they find any client, whose particulars match with those of the entries listed by the United Nations.

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SEBI has issued a statement that in case of the issue of particulars of any of customers matching the particulars of the listed individuals or entities, stock exchanges, depositories and intermediaries are instructed to inform full particulars to Ministry of Home Affairs, within 24 hours.

SEBI has also asked the securities intermediaries to prevent designated persons from conducting financial transactions in aforesaid events, under intimation to the Home Ministry.

According to laid down rules, on receipt of particulars, the home ministry would initiate a verification to be conducted by the state police and the central agencies.

The verification would be completed within a week.

In Past, Concerns were raised by the National Security Advisors and Home ministry about the prospect of Terrorists using the stock markets to bring money into India to fund their activities.

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Dollar Supremacy to End? New Global Reserve Currency to Set In ?

UN called on Tuesday for a new global reserve currency to end dollar supremacy. Is dollar Supremacy at risk?

UN called for a new global reserve currency to end dollar supremacy. Is dollar Supremacy at risk?

The United Nations has called on for a new global reserve currency to end dollar supremacy, which has allowed the United States the “privilege’’ of building a huge trade deficit.

“Important progress in managing imbalances can be made by reducing the reserve currency country’s ‘privilege’ to run external deficits in order to provide international liquidity,’’ UN undersecretary-general for economic and social affairs, Sha Zukang, said.

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Speaking at the annual meetings of the International Monetary Fund and World Bank in Istanbul, he explained:

“It is timely to emphasis that such a system also creates a more equitable method of sharing the seigniorage derived from providing global liquidity.’’

Greater use of a truly global reserve currency, such as the IMF’s special drawing rights (SDRs), enables the seigniorage gained to be deployed for development purposes,’’ he said.

The SDRs are the asset used in IMF transactions and are based on a basket of four currencies—the dollar, euro, yen and pound—which is calculated daily.

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China had called in March for a new dominant world reserve currency instead of the dollar, in a system within the framework of the Washington based IMF.

Beside this another worrying news for Dollar lovers is floating around that Arab states had launched secret moves with China, Russia, Japan and France to stop using the dollar for oil trades, though denied by many of arab states.

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India,slum-free in five years???

Housing for India’s urban poor

Housing for India’s urban poor

New projects provide hope of housing for India’s urban poor

The UPA government may be overreaching with its stated intention to make India slum-free in five years, but it is a step in the right direction.

A 2001 United Nations estimate pegged the number of the world’s slum-dwellers at 924 million; 31.6 per cent of its urban population.

Doubtless, the number is far higher now. The majority of these, by far, are in Asia, in cities such as Mumbai and Kolkata, ratcheting up the pressure on our already creaking urban infrastructure to dangerous levels. The problem must be addressed now.

And although it is early days yet, it appears that a new wave of companies – including the likes of Tata Housing Development, Value and Budget Housing, Godrej Group and Ansal Properties – may be doing so with new projects aimed at low-income groups.


So far, the real estate and housing boom in Indian metros has been fuelled by the growth of a middle class that has been expanding with liberalisation and the growth of the Indian economy. It has fed upon itself, creating a housing bubble. It is not a mechanism that can be sustained, as we are already starting to see.

Price levels that have been rising for years have run headlong into the global financial crisis, and the simple rules of demand and supply have come into play.


But at the bottom of the pyramid, there is immense scope for expansion with economically weaker sections and low-income groups accounting for close to 99 per cent of the urban housing shortage of 25 million units. To exploit this opportunity effectively, however, a change in mindset and approach is needed.

Profit margins must be lowered from their current skyscraper levels. Projects must be completed and handed over within a short time frame to produce working capital and preclude price hikes because of market fluctuations. High volume sales would make up for the lower pricing of individual units while making housing accessible to a far larger section of the urban population.

It is this logic that the new entrants in the low-income housing sector seem to be employing. However, quality must not be compromised in an effort to contain prices. Neither is simply increasing the supply of lowcost housing enough; there must be provisions to supply financing to potential buyers as well.

And distorted land markets in our cities must be set right to increase the availability of land for development. But these are not insurmountable problems. Public-private partnerships might supply some of the answers, providing developers with the financial muscle and flexibility required to deliver on their projects without cutting corners.

The opportunities must be explored and solutions found. If this new market logic is harnessed, the government’s objective may be at least partially fulfilled.