RR Reading http://rrreading.com/ Fri, 12 Aug 2022 03:29:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://rrreading.com/wp-content/uploads/2021/03/rrrreading-icon-70x70.png RR Reading http://rrreading.com/ 32 32 Edo Commissioner Advises PSM-TWG to Ensure Transparency and Accountability in Health Commodity Sourcing…While Edo Hosts Technical Working Group on Integrated Regional Procurement and Supply Management 2022 https://rrreading.com/edo-commissioner-advises-psm-twg-to-ensure-transparency-and-accountability-in-health-commodity-sourcingwhile-edo-hosts-technical-working-group-on-integrated-regional-procurement-and-supply-ma/ Thu, 11 Aug 2022 21:30:02 +0000 https://rrreading.com/edo-commissioner-advises-psm-twg-to-ensure-transparency-and-accountability-in-health-commodity-sourcingwhile-edo-hosts-technical-working-group-on-integrated-regional-procurement-and-supply-ma/

Edo State Health Commissioner, Prof. Obehi Akoria, advocated the need for integrated regional procurement and supply management to establish a comprehensive framework to optimize all resources in a integrated for a responsive, cost-effective, efficient, transparent and accountable supply of health products. chain system for all public health programs in their respective state.

Prof Akoria, who was represented by Dr Stanley Ehiarimwian, Acting Permanent Secretary, Ministry of Health, Edo State, said the theme of the meeting, “Refocusing the public health supply chain through l ‘integration for a sustainable system’, is very appropriate, especially in the face of reduced partner resources, insecurity, staff attrition and inflation.

The Edo State Ministry of Health hosted this year 2022 the annual meeting of the Integrated Regional Technical Working Group on Procurement and Supply Chain Management in Benin City, the state capital. .

The participating states are Anambra, Delta, Ebonyi, Enugu, Imo and the host state, Edo.

She revealed that access to essential medicines and other health commodities is an important strategy to achieve universal health coverage and it remains a major health system challenge in Nigeria.

According to Professor Akoria, there is an urgent need to establish an overarching framework to optimize all resources in an integrated manner for a responsive, cost-effective, efficient, transparent and accountable health product supply chain system for all public health programs. .

She appreciated the initiative of the Procurement and Supply Chain Management Technical Working Group, which is a rallying point for all stakeholders in the supply chain system to discuss and make decisions that improve the health product supply chain system in particular and the health of citizens in general.

Prof. Akoria added that “Through its coordination meeting and advocacy calls, the PSM-TWG in Edo State has fostered healthy relationships among key players, which has provided us with ways to leverage leverage available resources for quantification, integrated commodity distribution, COVID-19 vaccine distribution and sample collection, and logistics data reporting and management for various public health programs in the state. This has enabled efficient use of available resources and minimizes waste at all levels of the supply chain.

“In addition to this, the Edo State Government under the leadership of His Excellency Mr. Godwin Obaseki is committed to promoting the health status of the people of Edo State and improve the quality of health care services. This commitment is reflected in the recruitment of qualified health personnel, the supply of health products and collaboration with local and foreign partners.

“This shows that concerted efforts of supply chain actors and policy makers through an effective coordination structure and an enabling policy and economic environment can achieve health sector supply chain integration” , she concluded.

During the meeting, each state representative was allowed to make a presentation on the SCM, SWOT analysis, key achievements of the SCM, challenges and solutions of the SC, the state-led plan for sustainability and ownership of the SC, monitoring of the 2021 mitigation action plan, COVID-19 vaccine logistics progress report and NISDRN update report.

There was also a brainstorming session on developing a mitigation plan for identified challenges, building consensus and updating on the SLMCU Quarterly Fact Sheet.

Partners were also allowed to make their presentations on key MTS achievements, MTS challenges and proposed solutions, plans for sustainability and ownership of the CS and feedback/comments.

The consumer price index shows that inflation remains high https://rrreading.com/the-consumer-price-index-shows-that-inflation-remains-high/ Thu, 11 Aug 2022 19:18:25 +0000 https://rrreading.com/the-consumer-price-index-shows-that-inflation-remains-high/

July inflation numbers came out this week from the Bureau of Labor Statistics. Micheal Clements shares what they mean for farmers and ranchers.

Clement: Year-on-year consumer inflation in July was 8.5%, down from 9.1% in June. Month-to-month inflation was zero percent, although that was largely the result of a 4.6 percent drop in energy prices. Roger Cryan, chief economist of the American Farm Bureau Federation, says inflation remains a concern.

cryan: Food prices were nearly 11% higher than a year ago and rose more than 1% in the month alone, and this will continue to be a problem as demand is and will remain high, and farmers around the world are facing problems such as drought and high fuel and fertilizer prices and, not to mention the war in Ukraine. The Federal Reserve Bank injected a lot of dollars into the economy in 2020-2021. And now the Fed is raising interest rates and selling assets to absorb some of those dollars. We are going to see headline inflation in the range of 5-9% through 2024.

Clement: Cryan says the economy remains strong, but the market remains tired.

cryan: Job vacancies are a little lower than a few months ago, but they are still well above pre-2021 levels. There are ten million job vacancies in the US economy right now. This means that there is still a lot of demand in the economy. But we have a strong narrative in the market that says if the Fed raises rates recession will happen and that narrative leads to overreaction and that overreaction could lead to continued recession.

Clement: Cryan says there are upsides for farmers and ranchers.

Cyran: A recession does not help farmers, but commodity prices are still relatively high and if fuel and fertilizer prices continue to fall, that would be a big help. And the Fed’s now, finally, serious attack on inflation, I think, is helping to restore confidence in the market that inflation won’t be a long-term problem. So we’re already seeing long-term interest rates start to come down, which is very helpful for farmers when they’re looking to invest, and short-term interest rates will come down once inflation is defeated, that could take a few years.

Clement: Michael Clements, Washington.

Texas A&M Researchers Say Rising Mortgage Interest Rates Hurt Housing Affordability | Latest titles https://rrreading.com/texas-am-researchers-say-rising-mortgage-interest-rates-hurt-housing-affordability-latest-titles/ Thu, 11 Aug 2022 02:46:00 +0000 https://rrreading.com/texas-am-researchers-say-rising-mortgage-interest-rates-hurt-housing-affordability-latest-titles/

According to Clare Losey, assistant research economist at Texas A&M University’s Texas Real Estate Research Center, rising mortgage interest rates are hurting housing affordability in Texas, which is affecting first-time home buyers.

“A higher mortgage interest rate equates to a higher monthly mortgage payment because, all things being equal, the borrower is going to spend more on the cost of mortgage capital, which means they are going to pay more interests,” she said. Wednesday. “As the total monthly mortgage payment increases, the income the borrower must earn to qualify for that mortgage also increases. The effect this has is that for a house at the same price with a mortgage interest rate higher, the borrower must actually earn a higher income to qualify for a mortgage.

Losey said higher rates push more households out of the homeownership market because as the income required to qualify for a mortgage increases, fewer potential buyers will be able to qualify.

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“The Median Home Price for Bryan-College Station [metropolitan area] in the second quarter of 2022 was $314,000. We estimate that for a repeat buyer, a buyer who already owns a home and is looking to sell their current home and move into another home, their required income to qualify for a mortgage is approximately $54,000,” she said. “It doesn’t include the cost of property taxes and insurance, it’s just the main mortgage interest.”

For a B-CS family looking to buy a home for the first time, Losey said, their income required to qualify for the starting home price was about $220,000 in the second quarter of the year. This family should earn a required income of about $40,000, regardless of property taxes and insurance, she said.

“Bryan-College Station and Texas are still relatively affordable when it comes to home ownership. The noticeable decline in affordability from the first to the second quarter of this year is largely precipitated by this increase in mortgage interest rates,” Losey said. “The rate hike was about 3 percentage points from Q1 to Q2, which is a pretty big increase in the mortgage interest rate. Overall, B-CS is relatively well positioned when it comes to l affordability of housing.

Losey said that, based on research by TRERC, a Bryan-College Station family earning the median income actually earns 34% more than needed to qualify for a mortgage payment on a median-priced home.

“Essentially, the median family income in B-CS is more than enough to qualify for the median-priced home,” she said. “Looking ahead, we know that Texas has a strong economy and we’re doing pretty well. However, we have this looming question of whether we’re currently in a nationwide recession or will- we in recession later this year or in 2023?That has yet to be answered.

Losey said that barring an economic shock, such as a recession, she expects that as the Federal Reserve tries to control inflation and achieve price stability, it will continue to raise federal funds rates, which will induce upward pressure on mortgage interest rates.

“As long as these rates go up, we’re likely to see some slowdown in demand for homeownership,” she said. “So that should help moderate that price growth to help affordability.”

Harold Hunt, a research economist with TRERC, said he agreed with Losey that mortgage interest rates are on the rise, but have come down slightly over the past two weeks.

“Recently, we’ve seen mortgage rates go down. We had a race in June, but they went down,” he said. “But, the Fed is expected to raise the fed funds rate, mortgage rates will go up, we don’t know by how much. … They are expected to go up because the Fed continues to raise interest rates to try to fight inflation.

Jim Gaines, a research economist with TRERC, said mortgage interest rates over the past six months had risen from around 3% interest to 5.5-6% at a time.

“These interest rates change almost daily. For example, if your interest rate went from 3% to 6%, your monthly payment to borrow the same amount of money may have increased by hundreds of dollars per month depending on what you were looking for,” said he declared. “A lot of people have fought for lenders to say ‘With your monthly income, you can’t afford that monthly mortgage, but you can afford that much, which is less.’ So now people had to either make up with the down payment or buy a cheaper house.

For many people earning between 50 and 90 percent of the region’s median income, or about $53,000 a year, Gaines said they were hit the hardest by the rate hike.

“Someone making $45,000 a year, as a family or as a household, is the type of buyer about to qualify for a mortgage and be able to buy a home they want to buy,” did he declare. “I don’t think we’ll ever see a 3% mortgage interest rate again.”

For more information on housing affordability, visit refocus.tamu.edu.

Network Access Control Market Trends 2022 https://rrreading.com/network-access-control-market-trends-2022/ Wed, 10 Aug 2022 10:00:00 +0000 https://rrreading.com/network-access-control-market-trends-2022/

Pune, India, August 10, 2022 (GLOBE NEWSWIRE) —

The global network access control market size is expected to witness massive growth over the forecast period as governments around the world seek advanced monitoring solutions for network infrastructures. In order to meet the demands for advanced security solutions, industry players have entered into mergers, acquisitions and partnerships. To mitigate the growing risk of cyberattacks worldwide, the increase in cloud and on-premises deployment of NAC solutions will drive the following nine trends:

Adoption of Onboarding Services in North America

In 2021, the services segment represented more than 20% of the North America network access control market share, due to the continuous evolution of network requirements. With the region’s education industry receiving private and public funding, CNA vendors have served the integration, maintenance, and consulting needs of these organizations. Several government agencies in Canada have deployed best-in-class integration services for smoother functional testing and installation of software and hardware systems.

Go to sample pages of the report, “North America Network Access Control (NAC) Market Forecast 2028” in detail with the table of contents (ToC) @


Real-time solutions offered by on-premises deployment

By 2028, the network access control market share in North America of the on-premises model will have exceeded approximately $6.5 billion. Since this model involves greater control over network monitoring compared to the cloud model, IT staff were able to configure the systems according to their operational goals. With several market players introducing new solutions, real-time monitoring features will meet the changing needs of new customers.

The U.S. government will improve adoption of products and services

Since the COVID-19 pandemic, businesses in the United States have strengthened their data protection strategies to avoid further operational disruptions. The market share of the United States is growing at a steady rate and is expected to surpass $8 billion by 2028. Regional businesses and government agencies have been fueling product usage, driven by higher penetration of IoT, unified communications (UC), mobility and cloud technologies.

Industry 4.0 is accelerating in Asia-Pacific

As Industry 4.0 continuously attracts the attention of investors, traditional facilities are being replaced by smart factories at a faster rate. The availability of high-speed networks has ensured that IoT-connected devices are becoming commonplace in these factories of the future. The APAC network access control market share of manufacturing applications will increase owing to the growing vulnerability to cyberattacks.

Go to sample pages of the report, “Asia-Pacific Network Access Control (NAC) Market Forecast 2028” in detail with the table of contents (ToC) @


Rising Incidence of Cyber ​​Threats in India

By 2028, the Indian market size is expected to reach $1 billion. More and more companies have discovered flaws in their IT infrastructure to prevent fraud and loss. According to the recent Cyber ​​Safety Pulse report published by Norton, the country recorded more than 18 million cyber threats and attacks, with around 200,000 threats per day during the first quarter of 2022. The regional BFSI sector is showing a growing interest in these solutions since the pandemic.

Increasing Migration to Software Networks in APAC

In 2021, the software segment generated around 30% of the Network Access Control (NAC) Industry in Asia Pacific. Rising volumes of investment in virtual network security solutions have enabled product penetration. More and more small and medium enterprises as well as startups have migrated to software-based networks in order to manage network security risks more effectively.

Web apps for retail are gaining popularity in Europe

Over the next few years, the network access control (NAC) market share in Europe from retail applications will continuously increase owing to the growing preference for web services. As NAC improves the customer experience through the implementation of security measures such as multi-factor authentication, user monitoring and authorization, it will be increasingly adopted on e-commerce platforms. . Several NAC solution providers have focused on the needs of the retail industry to gain a stronger foothold in the regional market.

Go to sample pages of the report, “Europe Network Access Control Market Forecast 2028” in detail with the table of contents (ToC) @


Flexible working policies across the UK

Since the COVID-19 pandemic, several businesses in the UK have pursued the work-from-home model to facilitate remote and flexible working hours for employees. The new setup has witnessed an alarming increase in cybersecurity threats across the country. According to the 2022 Regional Government Cyber ​​Security Breaches Survey, nearly 55% of corporate staff as well as more than 66% of non-profit organization employees have adopted the BYOD trend, as of March 2022.

More telecoms partner with tech companies

European industry size is poised to grow at a commendable pace over the next five years as IT and telecommunications companies integrate endpoints into their enterprise network architecture. With the skyrocketing consumption of online video and audio content, the pressure to improve the customer experience has driven these companies to form strategic alliances with regional market players. The improved scalability offered by the new packages attracted customers looking to expand their cybersecurity.

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		Japan’s wholesale inflation slows as global commodity pressure eases
		Wed, 10 Aug 2022 01:22:00 +0000


A vendor sells chocolates at a shop in the Ameyoko shopping district in Tokyo, Japan May 20, 2022. REUTERS/Kim Kyung-Hoon

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  • Wholesale prices in July up 8.6% year on year compared to a gain of 9.4% in June
  • Slowdown reflects moderation in global commodity price increases
  • Prices of goods closer to retailers accelerate the pace of gain

TOKYO, Aug 10 (Reuters) – Japanese wholesale prices rose 8.6% in July from a year earlier, data showed on Wednesday, slowing from the previous month’s pace, a sign that inflationary pressure due to rising fuel and raw material costs was easing.

But price growth accelerated for some goods, such as food and machinery, data from the Bank of Japan (BOJ) showed, suggesting that companies continued to pass on higher raw material costs blamed on the war in Ukraine and the weakness of the yen.

The rise in the Business Goods Price Index (CGPI), which measures the price businesses charge themselves for their goods and services, marked the 17th straight month of gains, but slowed from a revised rise 9.4% in June, according to the data.

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“Inflationary pressure from the cost push will gradually weaken,” said Toru Suehiro, an economist at Daiwa Securities. “Inflation could peak soon,” given recent declines in energy costs that are affecting prices of a wide range of goods, he said.

Prices for petroleum and coal products rose 14.7% in July from a year earlier, slowing from a peak of 21.8% in June.

Other products directly affected by global commodity prices, such as lumber and chemicals, also saw the pace of price increases moderate, the data showed.

In contrast, food and beverage prices rose 5.5% in July from a year earlier, following a 4.6% gain in June, underscoring the lingering impact of rising input costs .

The yen-based import price index jumped 48.0% in July, higher than a revised gain of 47.6% in June, a sign that the decline in the yen was playing a major role in the surge in inflation.

Core consumer inflation in Japan remained above the central bank’s 2% target for a third consecutive month in June as the economy faced pressure from high global commodity prices that increases the cost of the country’s imports. Read more

But the BOJ has repeatedly said it is in no rush to withdraw its massive stimulus package, describing recent inflation as largely driven by external factors and unsustainable unless accompanied by stronger wage growth. Read more

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Reporting by Leika Kihara; Editing by Sam Holmes

Our standards: The Thomson Reuters Trust Principles.

Mexican real estate technology platform DD360 receives US$25 million capital investment from Creation Investments https://rrreading.com/mexican-real-estate-technology-platform-dd360-receives-us25-million-capital-investment-from-creation-investments/ Tue, 09 Aug 2022 18:12:00 +0000 https://rrreading.com/mexican-real-estate-technology-platform-dd360-receives-us25-million-capital-investment-from-creation-investments/

MEXICO CITY and CHICAGO, August 9, 2022 /PRNewswire/ — Creation Investments, a leading global alternative asset manager and impact investor in emerging markets, has made a $25 million equity investment in DD360, a financial and real estate technology platform that facilitates the financing and management of residential real estate in Mexico. To date, DD360 has raised approximately $91 million in equity and will use the additional funding to support accelerated loan growth and product rollout through the expansion of its technology platform offerings and software development team.

“We are excited to invest in a business that aligns with our thesis of high growth and profitability, while addressing many impact themes such as access to housing and job creation,” said Amadeo Ibarradirector and Mexico country manager for Creation Investments. “We look forward to partnering with DD360’s management team to support its next phase of growth.”

Situated at Chicago and with offices at Mexico City and Bengaluru, IndiaCreation Investments manages over US$1.8 billion on behalf of institutional investors, family offices and high net worth individuals. Creation and its portfolio companies seek to improve the lives of those at the bottom of the economic pyramid in emerging markets.

“We are excited to add Creation Investments as a shareholder to support our growth and rollout of commercial mortgages and other product offerings,” said Jorge Combeco-founder and CEO of Mexico Citybased on DD360. “With these resources, we will continue to grow our team and our balance sheet while addressing the huge housing deficit in Mexico.”

DD360 has been profitable since its inception and manages a loan portfolio of more than $230 million. The company has financed 120 real estate projects through Mexico and is experiencing rapid growth in its retail mortgage offering, supported by the launch of its Compa digital mortgage origination platform. DD360 has secured funding from major commercial and development banks in Mexico and is in talks with international banks to fund its business-to-business and business-to-consumer growth initiatives.

About DD360

DD360 is an online financial and real estate technology platform that makes it easy to finance and manage residential real estate in Mexico. The company offers business-to-business mezzanine and construction loans to developers, as well as consumer mortgages. It has financed more than 120 real estate projects and built a loan portfolio of more than $230 million. Based at Mexico CityDD360 is focused on delivering the best technology-enabled real estate experience in Mexico. Through its digital ecosystem, the company supports residential real estate developers from the design of new projects to the sale of individual residential units, with technological solutions that disrupt the traditional financing process in the real estate sector. For more information, visit https://dd360.mx and https://compa.financial.

About Creative Investments

Creation Investments Capital Management, LLC is a leading global alternative asset manager and impact investor in emerging markets. Worldwide, Creation’s investments directly help more than 28 million small businesses. The company manages more US$1.8 billion on behalf of institutional investors, family offices and high net worth individuals. Drawing on its deep industry experience, Creation partners with management teams to inject growth equity and facilitate buyout transactions into companies specializing in microfinance, small and medium enterprise lending, credit -leasing, factoring, insurance, savings, payments and mobile money. With its portfolio companies, and in alignment with the United Nations Sustainable Development Goals (SDGs), Creation aims to improve the lives of those at the bottom of the economic pyramid in emerging markets. For more information, visit www.creationinvestments.com.

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SOURCE Creation Investments

Daily Brief Financials: First REIT, Magic Empire Global, ICICI Bank Ltd, Chiliz, Guangzhou R&F Properties and more https://rrreading.com/daily-brief-financials-first-reit-magic-empire-global-icici-bank-ltd-chiliz-guangzhou-rf-properties-and-more/ Tue, 09 Aug 2022 02:02:28 +0000 https://rrreading.com/daily-brief-financials-first-reit-magic-empire-global-icici-bank-ltd-chiliz-guangzhou-rf-properties-and-more/

For our next corporate webinar, we are pleased to welcome the Executive Director and CEO of First REIT, Tan Kok Mian, Victor.

In the next webinar, Victor will share a short company overview, after which he will engage in a fireside chat with Smartkarma Insight provider, Angus Mackintosh. The corporate webinar will include a live Q&A session.

The corporate webinar will take place on Tuesday, September 6, 2022, 5:00 PM SGT.

Listed on the Singapore Stock Exchange Securities Trading Limited on December 11, 2006, First Real Estate Investment Trust (“First REIT”) is Singapore’s premier healthcare real estate investment trust. Its investment strategy encompasses a diversified portfolio of high yielding health and healthcare related real estate assets in Asia.

Over the years, the Trust has successfully built a high quality and diversified asset portfolio of 31 properties including 16 located in Indonesia, three in Singapore and 12 in Japan. The properties are collectively valued at over S$1,253.0 million¹ as of December 31, 2021. The stable income-generating portfolio covers all healthcare real estate, including hospitals, nursing homes and other facilities related to health care.

First REIT is managed by First REIT Management Limited, which is owned 60% by OUE Limited and 40% by OUE Lippo Healthcare Limited (“OUELH”). First REIT is granted the right of first refusal (“ROFR”) on the hospital pipeline in Indonesia by PT Lippo Karawaci Tbk (“Lippo Karawaci”), Indonesia’s largest publicly traded real estate company. First REIT also has another ROFR from OUELH and the opportunities to leverage its growing healthcare network across Pan-Asia.

Smartkarma Corporate Solutions’ business webinars feature discussions with IROs and executives, discussing their businesses, the challenges they face, and the opportunities in their industries and markets.

Venezuela to ‘rebuild the community’ with Petro Gov’t in Colombia https://rrreading.com/venezuela-to-rebuild-the-community-with-petro-govt-in-colombia/ Mon, 08 Aug 2022 19:13:00 +0000 https://rrreading.com/venezuela-to-rebuild-the-community-with-petro-govt-in-colombia/

Mexico City, Mexico, August 8, 2022 (venezuelanalysis.com) – Venezuelan President Nicolás Maduro celebrated the inauguration of Gustavo Petro as President of Colombia, with leaders pledging to rebuild the long but strained relationship between the two countries of Caribbean.

“I extend my hand to the Colombian people, to President Gustavo Petro, to rebuild fraternity based on respect and love between peoples”, said Maduro on Sunday.

For his part, Petro called on Latin American governments to put aside their political differences and work towards regional integration.

“It’s time to leave behind [political] blocs, groups and ideological differences to work together. Let us understand once and for all that there is much more that unites us than what separates us and together we are stronger,” Petro said during his inaugural address to his country from Bogotá’s Bolivar Square.

The left-wing politician referenced a number of historic Latin American figures who pushed for integration, including Simón Bolívar, the 19th-century independence leader widely celebrated in Colombia and Venezuela.

In a symbolically charged move, after taking the oath, Petro interrupted his own ceremony in order to have Bolívar’s original sword brought to the square.

“Let’s make this unity dreamed of by our heroes, like Bolívar, San Martín, Artigas, Sucre and O’Higgins, a reality. It is not a utopia or romanticism. This is the way to make us strong in this complex world,” said the Colombian leader.

The president notably called for the development of “concrete projects” that would facilitate integration.

Petro’s foreign policy represents a significant departure from his predecessor Iván Duque who sought to maintain Colombia’s exceptionally close relationship with the United States.

Duque, a protege of far-right former President Álvaro Uribe, faithfully followed Washington’s dictates, backing regime change efforts in neighboring Venezuela, leading to a breakdown in diplomatic relations between Colombia and Venezuela in February. 2019. Petro pledged to restore diplomatic relations with Caracas, having previously dispatched his foreign minister, Álvaro Leyva, to meet his Venezuelan counterpart Carlos Faría.

In an important test of the new relationship, the President of the Venezuelan National Assembly, Jorge Rodríguez, called on Colombia to extradite opposition leader Julio Borges for his alleged involvement in the August 4, 2018 assassination attempt on Maduro.

The National Assembly resolution follows the sentencing by a Venezuelan court of 17 people in connection with the incident which was caught on television. Among the alleged participants was former far-right opposition MP Juan Requesens, who was sentenced to 8 years after he confessed to helping bring in the explosive-laden drones used in the attack. Other sentences ranged from 8 to 30 years.

Despite Petro’s wish for a delegation representing the Maduro government to be present, the outgoing Duque denied the possibility due to ideological differences with Caracas.

The ceremony nevertheless counted on the presence of several left-wing presidents from the region, including the Argentinian Alberto Fernández, the Bolivian Lucho Arce and the Honduran Xiomara Castro. The election of 62-year-old Gustavo Petro has been widely seen as the latest in a string of victories at the polls by leftist and progressive leaders in Latin America.

During his address, the former member of the M-19 guerrillas pledged to strengthen ties with the Caribbean and the African continent as well.

Colombia’s new president is widely regarded as the country’s first progressive head of state. His inaugural statement left little doubt the 62-year-old politician’s intention to break with the country’s long-dominant conservative regime.

Along with radically reorienting Colombia’s foreign policy, Petro also promised to fully implement the country’s 2016 peace accord with the Revolutionary Armed Forces of Colombia (FARC-EP). A fierce critic of the peace accord, former President Duque has been accused of deliberately failing to implement the accords, leading to the murder of hundreds of former combatants and social leaders.

Petro also pledged to push for a series of important reforms to Colombia’s labor, health, education, pension and tax systems.

A major center of cocaine production, Colombia has been at the center of the US-led “war on drugs” that Petro says has claimed one million lives in Latin America over 40 years.

“It’s time for a new international convention that accepts that the ‘war on drugs’ has failed,” he said.

The Colombian president was also sworn into his cabinet, the first gender-balanced government in the country’s history, with Petro promising to tackle gender inequality with his running mate Francia Márquez, the first Afro-Colombian woman elected vice-president. president.

In taking the oath, Márquez said she would “work for Colombian men and women who have been historically excluded, until dignity becomes customary”, invoking a phrase commonly used by social movements across America Latin.

Edited by Ricardo Vaz in Caracas.

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stocks to buy now: how to play falling commodity prices? Pawan Parakh on where to find the best bets https://rrreading.com/stocks-to-buy-now-how-to-play-falling-commodity-prices-pawan-parakh-on-where-to-find-the-best-bets/ Mon, 08 Aug 2022 10:48:00 +0000 https://rrreading.com/stocks-to-buy-now-how-to-play-falling-commodity-prices-pawan-parakh-on-where-to-find-the-best-bets/ “The best way to play Commodity Consumers is to play it through the Building Materials space or the Capital Goods space. FMCGs and QSRs can also be played, but they are more expensive,” declared Pawan ParakhPortfolio Manager, Renaissance Investment

What sense do you get in terms of bottom-up ideas in the market? After the recent rally, do you think a lot of mid-cap companies, a lot of so-called industry leaders are the ones to focus on? Is this also the style followed by the Renaissance?
For the past six to nine months, we have been very positive on the markets and we believe that the sectors linked to the heart of the economy should do well. Thus, sectors such as banks, capital goods, chemicals and automobiles are sectors in which we have positioned ourselves. We believe the national economy post Covid has recovered well and as things go our confidence is only growing.

On capitalization, we’re clear that we want to invest in quality names across market caps – whether that’s largecaps or midcaps and if you look at long-term history, it is stocks and sectors that have leadership skills. These sectors tend to perform better over a long period of time.

Let’s talk about banks in particular. This area is very broad and there are many when it comes to banking. There are private sector banks, PSU banks, largecaps, midcaps. All look good. Where is your goal?
We focus more on the private side. Our public sector exposure is largely limited to the one or two big names and in the private sector as well our exposure is generally to the big banks that have a very strong liability franchise and I think that’s even more important in the current scenario where the cost of deposits are increasing and the ability of the bank to pass on its asset to the client side is very important. When it comes to mid-sized banks, we generally focus on banks that have higher exposure to secured wallets, as we believe this is safer than venturing into high-growth unsecured wallets.

How are banks taking advantage of the economy and the triggers you mentioned? Many of these companies are exposed to commodities. But now commodity prices are falling and the overall cost of production is expected to fall. How should we play it? Should we look at FMCG or QSR names?
The best way to play commodities is some of the commodity users or some of these FMCG or QSR stocks. The only problem is that these are quite expensive. The whole bunch of actions that fall into this category are very expensive, and you can play them in a building materials space or a capital goods space instead.

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These are commodity-intensive sectors but they are companies with multi-year growth visibility and as far as valuations go, we think valuations are quite reasonable at the moment. More importantly, some of these sectors claim, for example, that building materials in particular are also benefiting from the recovery in real estate and infrastructure. It is therefore these sectors that should be favored to play on the fall in commodity prices.

What’s your take on new-age tech companies? Do you have coverage on them and what companies do you like in that particular industry?
We monitor all companies and don’t invest in them the most because, as far as our philosophy goes, we like companies with strong cash flow and ROE and unfortunately none of these companies have these characteristics.

More importantly, the biggest concern we have is that some of these companies are cutting their losses, but we still don’t know when they will be profitable and what the prospects for growth will be. Merely being profitable does not justify the multi-billion dollar valuations they currently command.

We stay away from them, we only have exposure to one or two names but these are companies that are profitable, leaders in their field and have high cash flow.

A space that we all talk about in terms of raw materials, maybe like a steel company, a metallurgical company or a paper company. How would you look at it?
If you look at the sugar companies in particular, they had a good cycle three or four years ago and most of the companies have paid their debts and are currently sitting on comfortable balance sheets. Steel also goes through a similar cycle. Over the next three to four years, despite their capacity expansion plans, these companies will be able to reduce their leverage to comfortable levels. Steel is a very cyclical sector. When you have leverage, it makes it even more of a deep cyclic. This deeply cyclical nature of this sector will fade and that is a good thing for us as investors.

Cagamas mortgage program gains ground https://rrreading.com/cagamas-mortgage-program-gains-ground/ Sun, 07 Aug 2022 22:46:13 +0000 https://rrreading.com/cagamas-mortgage-program-gains-ground/

PETALING JAYA: Cagamas Bhd’s reverse mortgage program called Skim Saraan Bercagar (SSB) has been attracting interest and matching expectations from mortgage companies since applications opened on January 17, 2022 in Klang Valley.

Despite launching in January this year, the reverse mortgage for retired homeowners only saw its first applicant in March 2022.

“Applicants must undergo an eligibility review and financial counseling by the Employees Provident Fund and the credit counseling and debt management agency to ensure they have a good understanding of SSB” , Cagamas CEO Datuk Chung Chee Leong told StarBiz.

Cagamas did not reveal the number of applicants for the SSB program but said that in terms of location, Selangor had the highest number of applicants at 66%, followed by the Federal Territory of Kuala Lumpur at 34%. More than 50% of the applicants here belong to the age group of 55 to 69 years old.

“It shows that the awareness of SSB among the younger age group is higher than that of the older age group. It also indicated that most of the candidates are internet literate,” Chung said.

The release of the data by Cagamas showed that 41% of the candidates were aged 70 or over.

The most popular payout combination among applicants is the “lump sum and income stream” category, which accounts for 54% of the sum of applications, while 46% of applicants chose the “income stream only” option.

“Most applicants use the availability of lump sum disbursement in SSB for very specific reasons, i.e. for medical bills, property renovation or paying off their outstanding mortgage to redeem their property from the financier,” Chung said. .

Single men made up the largest number of applicants at 49%, while single women and couples each made up 26%.

Not surprisingly, Cagamas noted that 91% of applicants had freehold property.

SSB enables retired Malaysian homeowners, aged 55 and over, to convert their residential real estate asset into a fixed source of monthly income so that they can have financial security through a fixed source of monthly income throughout their years of retirement.

The scheme does not require borrowers or joint borrowers to make any repayments during their lifetime and repayment of the loan will be made upon the death of the borrowers.

Any outstanding loan amount will be settled by sale of the property and the balance of the sale proceeds will be passed on to the borrowers estate.

Cagamas said that based on the experiences of similar programs in Korea and Hong Kong, educating the retired population to promote reverse mortgage is essential because once people understand the benefits of reverse mortgage , the growth momentum will continue to develop.

“We expect SSB turnout to increase even further later this year once we launch the Islamic version of SSB and expand the SSB product line beyond Klang Valley,” he said. he declared.