long term – Payday Advance USCA http://paydayadvanceusca.com/ Mon, 21 Mar 2022 00:00:19 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://paydayadvanceusca.com/wp-content/uploads/2021/07/icon-4.png long term – Payday Advance USCA http://paydayadvanceusca.com/ 32 32 How philanthropic collaborations can help vulnerable people https://paydayadvanceusca.com/how-philanthropic-collaborations-can-help-vulnerable-people/ Sun, 20 Mar 2022 22:46:15 +0000 https://paydayadvanceusca.com/how-philanthropic-collaborations-can-help-vulnerable-people/ If “necessity is the mother of invention”, as the saying goes, it’s worth nurturing a few ideas born out of the tragedy of the Covid-19 pandemic. Across India’s social sector, there are clear signs that necessity is driving donors to work collaboratively and innovate financially to benefit vulnerable populations. The combination is promising for the […]]]>

If “necessity is the mother of invention”, as the saying goes, it’s worth nurturing a few ideas born out of the tragedy of the Covid-19 pandemic. Across India’s social sector, there are clear signs that necessity is driving donors to work collaboratively and innovate financially to benefit vulnerable populations. The combination is promising for the future.

Since 2020, the number of Indian philanthropic collaborations, made up of independent actors who join in pursuit of a shared vision and strategy to achieve social impact, has more than doubled. These new collaborations have mobilized a range of funding from foreign and domestic philanthropy, high net worth individuals, corporate social responsibility funders, bilateral and multilateral donors, private capital and other sources. Through these various streams, the amount of collaborative funding to improve people’s lives has increased significantly. The multi-year funding of eight of the most recent Indian collaborations ranges from Rs 2 crore to Rs 600 crore, while the annual budgets of the 13 philanthropic collaborations we studied in 2020 ranged from Rs 50 lakh to Rs 50 crore.

As funding levels have increased, so have innovative financing approaches to generating social impact, including pay-for-results models such as development impact bonds in education and health. , and other blended finance mechanisms. Moreover, some of the Indian collaborations go beyond ordinary grant making to NGOs.

For example, by combining funding from government, bilateral donors, major philanthropic organizations and leading companies, Samridh Healthcare Blended Finance Facility has mobilized a capital pool of Rs 1,875 crore. It provides both grants and debt financing to companies and innovators that expand the availability of affordable, quality healthcare solutions to bottom-of-the-pyramid populations. Their financing leverages other debt and equity investments as well as matching grants for health needs. Samridh supported the training of 1,100 healthcare workers in more than 25 cities and built oxygen delivery systems during the height of the pandemic.

Or consider ACT Grants, which has mobilized almost Rs 100 crore from business leaders and private equity/venture capital funds to address the challenges of Covid-19. By pooling capital from private sources, ACT grants have funded high-priority health needs such as tele-ICU treatment of high-risk patients in Karnataka, delivery of 45,000 pieces of oxygen equipment to health facilities health as the pandemic increased, and hospitalization and home expenses. based care of Covid patients, to name a few.

Donor partners are also deploying hybrid funding mechanisms that directly benefit underserved populations. During the first wave of the pandemic, REVIVE Alliance, a collaborative platform hosted by Samhita Social Ventures, used direct cash transfers to cover the basic needs of daily workers who had lost their income.

When REVIVE reached out to microentrepreneurs and workers, it soon realized that these people, who had lifted themselves out of poverty but often had no credit history, did not want charity. What they really wanted was dignity – a helping hand so they could help themselves – and inclusion in the formal economy. This is where an innovative social finance instrument called “reimbursable grants” comes into play.

REVIVE offers beneficiaries a reimbursable grant, which is a credit with a difference: it is an interest-free loan, with no collateral required, ranging from Rs 5,000 to Rs 25,000. But this loan also has the characteristics of a subsidy, since the owner of the small pharmacy or the street vendor has no legal obligation to reimburse it. Their only obligation is moral: if they don’t repay, they prevent another merchant whose store has lost business from receiving funds.

When workers and retailers repay, they actually benefit more than the next beneficiary. REVIVE estimates that each reimbursement generates a multiplier effect of up to seven times, since beneficiaries also receive tools and training to participate in the digital economy. When workers and retailers repay their loans, they create digital repayment records that establish their creditworthiness with formal financial institutions.

After raising Rs 152 crore in funding from its business partners as well as major donors, REVIVE has supported the efforts of 1.62 lakh small business owners and workers in January 2022. The collaboration aims to reach one crore of micropreneurs and workers, all over India, over the next three years.

Because REVIVE’s dignity and inclusion mindset begins with assuming that people will repay voluntarily, repayable grants are one of the purest expressions of trust-based philanthropy. Early evidence suggests that such trust is well placed. To date, repayment rates are 100% among small farmers and retailers, 99.5% among street vendors and 87.7% among women micropreneurs. The promise of reimbursable grants is that they could simply steer funders away from “either/or” choices – either solving the acute needs of today or the long-term challenges of tomorrow – and do both instead. .

They meet immediate needs by allowing a beauty salon owner to replace expired products or a small entrepreneur to relaunch projects. They also allow people who have never been part of the formal financial ecosystem to enter.

By bringing together different funders, each with their own risk-reward profile, the collaboration can leverage private capital with varying risk appetites. Because it can also deploy less familiar funding models, the collaboration gives funders additional flexibility to support communities. And by blending public, private and philanthropic capital, collaborations can reach segments (like small businesses) as well as populations (like women entrepreneurs) that would otherwise have been left behind by traditional development finance or development. purely private capital.

Venkatachalam and Gambhir are respectively Partners and Heads of Market Impact, South Asia and the Case Team in Bridgespan Group’s Mumbai office

]]>
TS loan to repay previous loans: CAG https://paydayadvanceusca.com/ts-loan-to-repay-previous-loans-cag/ Tue, 15 Mar 2022 18:47:22 +0000 https://paydayadvanceusca.com/ts-loan-to-repay-previous-loans-cag/ Hyderabad: The Comptroller and Auditor General (CAG) has fired the Telangana government for the misuse of loans. The state finance audit report for 2021 revealed that 76% of borrowings from financial institutions and other bodies were used for the repayment of previous borrowings. The CAG also highlighted the growing reliance of the state government on […]]]>

Hyderabad: The Comptroller and Auditor General (CAG) has fired the Telangana government for the misuse of loans. The state finance audit report for 2021 revealed that 76% of borrowings from financial institutions and other bodies were used for the repayment of previous borrowings. The CAG also highlighted the growing reliance of the state government on Ways and Means Advanced (WMA).

The report pointed out that the borrowed funds should have been used for capital fund creation and development activities. Using borrowed funds to meet current expenses and to pay interest on outstanding loans is unsustainable, the CAG report observed. Of the borrowings of Rs 1.85 lakh, the report states that 76.53% was used for repayment of previous borrowings, net capital expenditure (8.60%), net loans and advances (5.84% ) and the expense portion of the revenue has been satisfied. on available net borrowings which amount to 9.03 per cent.

The average interest rate on outstanding public debt has fallen slightly over the past four years, from 8.20% to 7.89%. However, this must be seen in the context that the state government has obtained loans with very long maturities. Also, there was no evidence on file to show that the government did a financial impact study for long-term borrowing with slightly lower interest rates.

The CAG said total borrowing has more than doubled in the past five years. Although no revenue expenditures were covered by borrowed funds until 2018-19, in 2019-20 and 2020-2021 revenue expenditures were covered by available net borrowings.

The report revealed that interest payments on WMA drawdown (including Overdraft (OD) and Special Draw Facility (SDF) during 2020-21 were Rs 71.28 crore compared to Rs 29.19 crore of Rs, which was a significant increase of 144% in one.Due to Covid in 2021, the number of days the government was dependent on the three advances SDF, WMA and OD was 158 days, which was also much higher than the previous year (8 days).Advances taken during the year were Rs 69,453 crore which was considerably higher than the previous year.

]]>
RBI: Term premium at 12-year high pushing up borrowing costs https://paydayadvanceusca.com/rbi-term-premium-at-12-year-high-pushing-up-borrowing-costs/ Mon, 14 Mar 2022 01:00:00 +0000 https://paydayadvanceusca.com/rbi-term-premium-at-12-year-high-pushing-up-borrowing-costs/ Mumbai: The Reserve Bank of India’s status quo on interest rates is becoming increasingly irrelevant, with term premia – the difference between the repo rate and the yield on long-term benchmark bonds – reaching a 12-year high. The premium is nearly 3%, the highest since 2010. This is driving up borrowing costs for companies that […]]]>
Mumbai: The Reserve Bank of India’s status quo on interest rates is becoming increasingly irrelevant, with term premia – the difference between the repo rate and the yield on long-term benchmark bonds – reaching a 12-year high.

The premium is nearly 3%, the highest since 2010. This is driving up borrowing costs for companies that use the yield on 10-year bonds as a benchmark.

The Reserve Bank has kept its benchmark repo rate unchanged at 4% since May 2020. Meanwhile, the benchmark 10-year government bond yield, after remaining in a range between 5.85% and 6 .25% through September 2021, has since risen steadily to around 5.85% now. This translates into a term premium of 2.85%. With yield expected to increase by more than 7% in the next fiscal year, this could increase further.

“This indicates that the pass-through of RBI rate cuts to long-term interest rates remains limited,” said DK Joshi, chief economist at ratings firm Crisil. Investors priced in the fundamental pressures of a large fiscal deficit and high inflation, driving the term premium, he explained.

The RBI has always maintained a dovish stance and a status quo on policy rates, opting to wait for a sustained economic recovery. It did not raise its key rates although consumer price inflation reached the upper limit of the target range of 2 to 6%.

Unlike short-term yields, the benchmark 10-year yield is determined by the market, and while the RBI plays an important influential role, day-to-day movements largely reflect relative demand and market pressures. supply, economists said.

“While it is true that higher government yields will lead to higher corporate borrowing rates, some of them may simply reflect fiscal concerns,” said Rahul Bajoria, chief India economist at Barclays Capital. “In the current environment, where inflation risks are priced on the upside, the surge in term premia is not a big surprise and simply reflects market concerns about inflation,” he said. added.

The policy rate acted as a signaling rate in line with the RBI’s monetary policy stance, while short and medium-term yields moved in line with the central bank’s strategy, particularly the liquidity operation, according to market analysts.

“Term premiums in the interest rate market have been highly skewed across various segments. For example, the term premium between money market and three- to five-year yields has historically been the highest, due to the unprecedented liquidity of the system and the wide corridor between repo and reverse repo,” said Soumyajit Niyogi, Associate Director, Credit and Market Research at India Ratings.

“On the other hand, term premia between 10y and 20y+ are benign, in line with past trend, largely driven by favorable investor demand and the RBI’s twisting of the deal” , he added.

]]>
3 Best Fintech Stocks You Can Buy Today https://paydayadvanceusca.com/3-best-fintech-stocks-you-can-buy-today/ Sat, 12 Mar 2022 13:15:00 +0000 https://paydayadvanceusca.com/3-best-fintech-stocks-you-can-buy-today/ The market has had a lackluster start to 2022. Investors are worried about inflationary pressures, the imminent arrival of interest rate hikes and now a major geopolitical conflict disrupting the economic recovery even as the main winds opposites of the pandemic are beginning to dissipate. In a market generally in a correction phase, growth stocks […]]]>

The market has had a lackluster start to 2022. Investors are worried about inflationary pressures, the imminent arrival of interest rate hikes and now a major geopolitical conflict disrupting the economic recovery even as the main winds opposites of the pandemic are beginning to dissipate.

In a market generally in a correction phase, growth stocks as a group were the hardest hit. Since the beginning of the year, the iShares S&P 500 Growth ETF lost 18% compared to S&P500down 12%. However, many growth stock names in the fintech space have been selling for even longer.

Three fintechs that are down 49% or more from their 52-week highs are Coinbase Global ( CHANGE -7.46% ), Assets received ( UPST -11.20% )and To block ( BECAUSE -6.38% ).

Image source: Getty Images.

1. Coinbase Global

Investors interested in the cryptocurrency space would find Coinbase Global a solid choice. It provides the infrastructure for users to trade cryptocurrencies and build decentralized applications. By the end of 2021, its platform had 89 million retail customers, 11,000 institutional customers and 210,000 other users like developers and merchants. This large customer base is just one of the reasons why Coinbase holds 11.5% of the total cryptocurrency cash and crypto market capitalization on its platform.

Last year was stellar for the crypto platform, as the company achieved $7.8 billion in revenue, an impressive 514% jump from the previous year. Its net income growth was also impressive, with net income of $3.6 billion, up more than 1,000%.

Coinbase is poised to grow as the crypto economy grows. Indeed, it continuously adds new crypto assets to its platform while introducing new products and services. The past year has also seen strong growth in things like non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized apps. Coinbase earned $500 million in subscription and service revenue through staking, earning, and custody products.

The stock, however, took a beating in part due to uncertainties in Coinbase’s forecast. In its letter to shareholders for the fourth quarter, the company’s management spoke of “even more unknowns that make our business all the more difficult to predict”. This is due to the unpredictability of crypto asset prices and macroeconomic headwinds such as rising interest rates, inflation, and geopolitical instability.

Despite these headwinds, Coinbase seems like a great long-term investment. The company is a crucial player in the crypto space and continues to develop its platform as the crypto economy evolves. And with $7.1 billion in cash and cash equivalents versus long-term debt of $3.4 billion, the company has the flexibility to continue to invest in the business and position itself to remain a key player in space for years to come.

A couple signs papers inside a car dealership.

Image source: Getty Images.

2. Assets received

Upstart Holdings leverages artificial intelligence (AI) to make lending decisions on consumer personal loans. The company wants to make loans accessible to everyone, especially those who are misclassified as less creditworthy by traditional credit scoring standards. Upstart connects borrowers on its website with its banking partners, taking referral fees and platform fees in return.

Fintech had a bumper year in 2021, with transaction volume up 241% to $11.7 billion. And thanks to its AI lending platform, nearly 70% of those loan approvals were fully automated. This propelled strong growth on the top and bottom lines. Revenue growth was 264%, while net income increased from $6 million to $135 million. Yet despite all of this, Upstart’s stock price is still down 72% from its 52-week high.

Investors have reason to be optimistic. Upstart has been profitable every quarter since its December 2020 IPO, and the company is growing in the auto lending space. The total addressable consumer loan market is $96 billion, while the auto loan market is larger, with an addressable market of $727 billion. After tripling its dealership footprint last year, Upstart expects to see auto financing volume of $1.5 billion in 2022.

Upstart is a solid fintech to buy at today’s prices. After trading at nearly 200 times forward earnings last year, it has now fallen to 51 times forward earnings. This valuation is still quite high, but given Upstart’s growth prospects, it may well be justified.

A person makes a payment with their phone in a flower shop.

Image source: Getty Images.

3. Block

Block – known to most people better by its original name, Square – offers payment services and a commerce ecosystem that help small businesses manage and grow their businesses. It now offers 30 products and services in its two segments: Square and Cash App.

Cash App was initially just a tool that allowed people to send and receive money. Since then, it has grown to allow people to invest, manage and spend as well. Last year, Cash App processed $152.8 billion in gross payment volume (GPV) across 3 billion card payments from 526 million payment cards.

Block also had an outstanding performance in 2021. Its revenue increased by 86% to $17.6 billion. However, investors may be hesitant to get too excited about the uptick, as $5.4 billion of the $8.2 billion growth came from Bitcoin revenue – and Block will struggle to top that in 2022. However, its other businesses also showed solid growth during the year. Transaction-based revenue increased by $1.5 billion, or 45%, while subscription-based revenue increased by $1.2 billion, or a 76% increase.

Block also had a busy year on the acquisitions front. Among his purchases was Afterpay. This agreement, concluded on January 31, gives it a foothold in the “buy now, pay later” (BNPL) niche. The company will integrate Afterpay into its Cash App and Square platforms. From there, its Square product will integrate Afterpay into its online or in-person payment solutions. Then customers will be able to manage their refunds using the Cash app.

Investor concerns over Block’s rising spending are part of why its stock is trading nearly 60% below its 52-week high. The company expects spending to increase $180 million from the fourth quarter, primarily due to Afterpay integration costs. Not only that, but investors fear that Bitcoin-related revenue will slow.

Despite these concerns, Block has excellent long-term growth prospects. The company continues to grow and expand its offerings for customers. Although it will take some time to integrate these offers, there is still great stock to buy and hold for the long term.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end advice service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

]]>
World Bank approves $435 million loan for low-cost housing projects https://paydayadvanceusca.com/world-bank-approves-435-million-loan-for-low-cost-housing-projects/ Sat, 12 Mar 2022 00:54:56 +0000 https://paydayadvanceusca.com/world-bank-approves-435-million-loan-for-low-cost-housing-projects/ ISLAMABAD: The World Bank (WB) has approved loans of $435 million for three projects, including Pakistan Housing Finance Project, Punjab Urban Land Systems Improvement and Punjab Affordable Housing Program to help low income groups. However, independent economists have argued against World Bank estimates of housing unit shortages in Pakistan. Moreover, the land registration projects in […]]]>

ISLAMABAD: The World Bank (WB) has approved loans of $435 million for three projects, including Pakistan Housing Finance Project, Punjab Urban Land Systems Improvement and Punjab Affordable Housing Program to help low income groups.

However, independent economists have argued against World Bank estimates of housing unit shortages in Pakistan. Moreover, the land registration projects in Punjab, already implemented in the province, have actually created more difficulties for the common man.

According to the multilateral lender’s announcement, the WB Board of Directors has approved three loans as these projects will expand access to housing finance, especially for low-income households, improve land rights and facilitate the development of affordable housing in urban areas of Punjab.

“Affordable and accessible housing is in high demand in Pakistan, home to more than 200 million people and the most urbanized country in South Asia,” said Najy Benhassine, World Bank Country Director for Pakistan.

“These projects will help meet housing needs, particularly for low-income households, by leveraging the private sector and facilitating access to mortgage options for those who currently do not have access to finance to buy a home. . They will also strengthen property rights and increase the supply of affordable, climate-resilient housing.

The additional $85 million in funding for the Pakistan Housing Finance project will help expand access to affordable mortgages to increase home ownership among low-income households, including women and informal workers. The additional financing will strengthen the Credit Risk Sharing Facility launched in 2018, to provide partial credit guarantees to banks, to incentivize them to lend to borrowers traditionally excluded from trade finance. This will benefit up to 70,000 first time home buyers in the country, who are eligible for the government’s interest rate subsidy scheme – Mera Pakistan, Mera Ghar (My Pakistan, My Home).

According to the World Bank project document, the development objective of this project is to increase household access to housing finance and support capital market development in Pakistan.

This was achieved by filling a significant gap in the long-term finance market through the establishment of the Pakistan Mortgage Refinance Company (PMRC).

This project provided support to help start the PMRC through $60 million in subordinated debt and $70 million in lines of credit (LoC) for low- and middle-income households.

It also included a pilot $10 million Risk Sharing Facility (RSF), established as a trust, to encourage lending to low-income and informal households.

The PMRC is now a vital part of the housing finance ecosystem in Pakistan; it has established partnerships with twenty-four financial institutions (banks, Islamic banks, micro-finance banks, MFIs and DFIs). Additionally, the PMRC undertook six capital transactions through which it raised 10.3 billion rupees ($63.2 million).

The $150 million Punjab Urban Land Systems Improvement Project will strengthen land administration and facilitate housing authorities’ efforts to identify suitable areas and public lands for affordable housing developments in the province of Punjab.

The project will help the provincial government modernize its land registry by creating a province-wide digital land and deed inventory. It will help secure land tenure and streamline land licensing procedures – which are essential for private sector investment, housing finance and tax revenue collection.

The project will also generate geospatial data and risk information to inform strategies for urban planning and risk management of natural disasters such as floods.

More than 38 million people are expected to benefit from land registration, which will not only improve security of tenure, but also formalize land and property ownership.

]]>
Pariah? Barely. Banks are still ready to lend to Trump https://paydayadvanceusca.com/pariah-barely-banks-are-still-ready-to-lend-to-trump/ Wed, 09 Mar 2022 18:31:01 +0000 https://paydayadvanceusca.com/pariah-barely-banks-are-still-ready-to-lend-to-trump/ NEW YORK (AP) — A bank’s decision to loan Donald Trump’s company $100 million is the latest evidence the former president may survive fraud investigations and a business backlash over to his efforts to stay in power after losing the 2020 elections. San Diego-based Axos Bank finalized the loan with the Trump Organization on Feb. […]]]>

NEW YORK (AP) — A bank’s decision to loan Donald Trump’s company $100 million is the latest evidence the former president may survive fraud investigations and a business backlash over to his efforts to stay in power after losing the 2020 elections.

San Diego-based Axos Bank finalized the loan with the Trump Organization on Feb. 17, according to documents filed with the city on Tuesday.

It is only three days after public revelations that the Republican’s longtime accountants had disavowed the decade-long worth of his financial statements amid allegations by the New York attorney general that they exaggerated his wealth.

The Axos loan is being used to pay off an old commercial space-backed loan at Trump Tower that was coming due in September.

A year ago, it seemed possible that Trump would become an outcast after his supporters stormed the US Capitol in an attempt to prevent a vote certifying President Joe Biden’s election victory. Banks, insurers and other business partners all cut ties following the riot.

Last year, the Trump Organization was indicted in New York for helping executives evade taxes. And for the past two years, the company has been the subject of civil and criminal investigations by New York Attorney General Letitia James and the Manhattan District Attorney.

But in the fall, Trump struck a deal to sell his Washington hotel for far more than expected. And a partnership he’s involved with that owns two office towers recently took out new loans for far more than needed to pay off old ones coming due.

“He bounces back,” says Barbara Res, a former Trump Organization executive who is not a fan and has even urged people not to vote for him.

“If a guy brings me a property with good cash flow, a good location, and good tenants, why do I care about his politics?” says Mike Offit, a former Deutsche Bank lender to Trump who now consults on home financing. “Trump has good buildings and manages them well.”

The Trump Organization declined to disclose the interest rate on the new loan and other terms. Axos, citing customer privacy rules, would not comment.

Asked to comment on this story, one of Trump’s sons criticized reporters for portraying the family business as struggling.

“We should never have been underestimated,” Eric Trump said in an emailed statement, adding, “We have very low debt, sit on huge sums of money, and have properties. extremely profitable.”

Assessing the overall financial health of the Trump Organization is difficult, given that it is a private company that releases few numbers publicly.

During his presidency, Trump’s name was removed from hotels and residential towers in several cities. His Scottish golf course has lost millions and the apartments in his buildings are selling at very favorable prices.

The coronavirus closures have added to the problems. Revenue at the company’s largest golf property, the Doral outside of Miami, plunged $33 million in the two years to 2021, down 44%, according to financial records obtained. by a government ethics agency.

Then came the Capitol riots and a rush to exit as Trump’s longtime trade office broker, his two biggest lenders, the PGA of America and others severed ties.

The company that helped her shop around her Washington hotel also severed their relationship after pulling her off the market due to a lack of demand. New York City announced it was canceling all municipal contracts with Trump, including the rights to operate a public golf course in the Bronx. Eric Trump called the city’s move a product of “cancel culture” and vowed to fight it.

The city’s decision to eject Trump from the course has been blocked in court and now, several months after Trump was supposed to leave, he is still running it, his name spelled out on a hill in giant cobblestones seen for miles. The Trump Organization says it will be fine but the city has to pay it $30 million first.

But Trump’s largest office buildings, while ailing, have not seen a massive exodus of tenants.

One of its major commercial tenants, Gucci, decided last year to extend its Trump Tower lease for another 16 years, according to financial documents from commercial lending research firm Trepp.

This building generated $19 million in revenue in the first nine months of last year, down from previous years but enough to pay expenses and interest.

Axos has previously made loans backed by at least two properties owned by Kushner Cos., the family real estate company once run by Trump son-in-law and White House adviser Jared Kushner. The bank also benefited from a policy change in the Trump administration allowing high-interest loans.

The Trump Tower loan follows other transactions to refinance mortgages on a Bank of America building in San Francisco and a Sixth Avenue tower in New York, both 30% owned by Trump Organization and 70% by the listed real estate giant Vornado.

Trump’s company still has many more loans to refinance, including a $125 million involving Doral, due next year.

More than a dozen hotel brokers and pundits who spoke to The Associated Press in recent months had opined that Trump was unlikely to make any money from the sale of his long-term lease of the hotel. former post office building, a federal property that he began to convert into a hotel. almost a decade ago.

But then a Miami firm teamed up with former Yankees star Alex Rodriguez to offer $375 million for the losing property. The deal still needs to be approved by a federal agency overseeing the building.

Mar-a-Lago — Trump’s property in Palm Beach, Florida — is also doing good business, with initiation fees rising as GOP groups and politicians regularly hold events there in hopes of a visit of the president, and perhaps of a coveted imprimatur.

Trump’s social media company, which aimed to take on Twitter, had a botched launch fraught with issues and freezes as people who signed up were locked out and fuming.

Still, investors have kept shares of the company linked to the Truth Social app up in the air, confident it will prevail against naysayers. At current prices, Trump’s personal stake could be worth billions.

Copyright © 2022 . All rights reserved. This website is not intended for users located in the European Economic Area.

]]>
Bommai’s first budget promises growth on borrowed money | Latest India News https://paydayadvanceusca.com/bommais-first-budget-promises-growth-on-borrowed-money-latest-india-news/ Fri, 04 Mar 2022 18:56:23 +0000 https://paydayadvanceusca.com/bommais-first-budget-promises-growth-on-borrowed-money-latest-india-news/ Karnataka Chief Minister (CM) Basavaraj Bommai presented his first budget on Friday promising growth for the pandemic-affected population with borrowed money even as the state’s debt situation rises to alarming levels . “In the current financial year, I propose to limit borrowings to ₹ 63,100 crore instead of budget ₹67,100 crore. For the year 2022-23, […]]]>

Karnataka Chief Minister (CM) Basavaraj Bommai presented his first budget on Friday promising growth for the pandemic-affected population with borrowed money even as the state’s debt situation rises to alarming levels . “In the current financial year, I propose to limit borrowings to 63,100 crore instead of budget 67,100 crore. For the year 2022-23, we plan to borrow 72,000 crore,” Bommai said.


“Total liabilities at the end of 2022-23 are estimated at 5.18, 366 crore or 27.49% of GSDP (state gross domestic product),” Bommai said. Total liabilities at the end of 2021-22 amounted to 4.57, 899 crores or 26.95% of the state GSDP.

Experts said the short-term approach with the upcoming elections in mind threatens to undo decades of fiscal discipline, which has the potential to keep the southern state overwhelmed with debt for a long time, affecting the creation of long-term assets and jobs as well as increasing pressure on successive governments.

Bommai, like his predecessor, BS Yediyurappa, presented a deficit budget for the second consecutive year even as the size of the budget increased. Budget size increased to 2,65,720 crore against a revised estimate of 2,57,042 crore in the previous year, registering an increase of 3.37%.


The CM has not increased the tax on any of the state-controlled products as any increase in the financially distressed population would have been against the plans of the Bharatiya Janata Party (BJP) to return to power in the 2023 parliamentary elections. .

“The economy in 2021-22 is on the road to recovery. Under these circumstances, I am not willing to impose (an) additional burden of additional taxes on (the) common man. The tax collection targets will be achieved by making all tax departments work better,” Bommai said in his speech.

The revenue deficit budget is estimated at 14,699 crore in 2022-23 vs. 15,134 crore in the corresponding year. The budget deficit should be 61,564 in 2022-23 i.e. 3.26% against 59,240 crores or 3.48% in the corresponding year. The state government has assigned 55,657 crores to stimulate economic development.


Despite the severe shortage of funds, the BJP government led by Bommai has forecast 9.5% (advance estimates) for the year 2021-22. “There is growth in resource mobilization as well as general growth in the economy,” Bommai replied when asked about projected growth rates.

Karnataka, like many of its counterparts, is heavily dependent on the revenue it generates from its own taxes under the Goods and Services Tax (GST) regime, which leaves most states at the mercy of the government. of union.

Bommai said much of his hope for growth came from a revival of collecting his own taxes.

The commercial tax department has set itself a target of 70,757 crores until the end of February this year against a target of 76,473 crores. The government has set itself the goal of 77,010 crores for 2022-23.


In stamps and registrations, the government has already collected 12,105 crore (until the end of February) against the target of 12,655 crore in 2021-22. The government has revised this target to 15,000 crore. Excise revenue has seen a sharp increase in expectations of 24,580 crore (in 2021-22) at 29,000 crore (in 2022-23).

The target for the transportation department was cut from 7515 crore (in 2021) at 8,007 crore (in 2022-23), as per budget.

“They shouldn’t compare growth with the year affected by corona. They should compare it with the year that was not affected by the pandemic,” Siddaramaiah, the opposition leader in Congress, said on Friday. .

While Bommai has reserved 55,657 crores to “encourage economic development”, much of the asset creation was done on borrowed money.


According to the medium-term budget plan 2022-2026, “State capital expenditure is mainly financed by borrowing. Capital expenditures were 44,237 crore for the 2021-2022 budget forecast (BE) and it has been revised to 42,366 crore as per revised estimate 2021-22 (RE). Similarly, revenue expenditure was 1,87,405 crore for 2021-22 BE and has been revised to 1,95,814 crore as per 2021-22 RE.

Capital expenditure refers to the creation of assets that can create jobs, while revenue expenditure mainly consists of the payment of salaries of government employees and other operating costs incurred by the government.

Economist and National Institute for Advanced Studies (NIAS) professor Narendar Pani said making a comparison to a year of recovery when growth is unsustainable. The amendment to the Fiscal Responsibility Act, which capped borrowing at less than 3% of GSDP, puts enormous pressure on the process of fiscal discipline, Pani said. “Everything that has been done for decades will now be pushed back. That’s even if they stick to the numbers they have,” he said.


]]>
Not transient; Not secular – Let’s call it “SECULATORY” – Saratogian https://paydayadvanceusca.com/not-transient-not-secular-lets-call-it-seculatory-saratogian/ Sun, 13 Feb 2022 16:04:21 +0000 https://paydayadvanceusca.com/not-transient-not-secular-lets-call-it-seculatory-saratogian/ Life – often there is little change in our daily comings and goings. Sometimes this change can be measured in inches or gradually and once in a while life changes in an instant and alters our existence forever. Many would agree that the health, financial, political, social and societal repercussions arising from the pandemic would […]]]>

Life – often there is little change in our daily comings and goings.

Sometimes this change can be measured in inches or gradually and once in a while life changes in an instant and alters our existence forever. Many would agree that the health, financial, political, social and societal repercussions arising from the pandemic would fall into at least one of the latter two. The intention of this column is to focus on financial changes, particularly with respect to inflation as well as the Federal Reserve’s duties with respect to the Consumer Price Index (CPI), a measure inflation at the retail level.

In 1977, Congress passed the Federal Reserve Act and, in doing so, directed the Federal Reserve’s Open Market Committee to “maintain long-term growth in the monetary and credit aggregates commensurate with long-term potential economy to increase production, so as to effectively promote the objectives of maximum employment, stable prices and moderate long-term interest rates.

Until 2020, the charges described above have undergone little change. However, in response to persistently low inflation, on August 27 of the same year, the mandate was changed as follows. “Employment, inflation and long-term interest rates fluctuate over time in response to economic and financial disruptions. Monetary policy plays an important role in stabilizing the economy in the face of these disturbances. The primary means available to the Committee to adjust the stance of monetary policy is to change the target range for the federal funds rate. The Committee believes that the level of the federal funds rate consistent with maximum long-term employment and price stability has declined relative to its historical average.

“As a result, the federal funds rate is likely to be constrained by its effective lower bound more frequently than in the past. Due in part to the proximity of interest rates to the lower bound effect, the Committee considers that the downside risks to employment and inflation have increased.

To paraphrase, the economy can operate closer to full employment than originally thought without causing inflation to spike. This conclusion drawn by the Fed was the result of a nearly decade-long inflation rate that was well below the Fed’s 2% annual target. Proof of this is that, for the decade ending December 31, 2020, inflation as measured by the CPI rose by an average of 1.75% per year, the lowest rate of annual increases since the 1930s. when prices fell an average of 1.30% per year. This is despite the fact that the yield on ten-year US Treasuries rarely exceeded 3.00% during this period.

Then, in March 2020, the pandemic hit and prices fell sharply. In April 2020, the consumer price index (CPI) fell by 0.4%, its biggest monthly drop in more than sixty years (1957). Beginning around the same time and continuing to this day, the Federal Reserve through the US Treasury and authorized by Congress, this presidential administration and the previous one embarked on a massive stimulus package, totaling trillions of dollars and consisting of monetary stimulus, a low interest rate environment, the purchase of US Treasuries, mortgage-backed securities and loan forbearance programs.

Add to that pent-up demand, early retirements, health or family related resignations and you have a recipe for inflation.

The question is whether or not this inflation will be short-lived (transitory) or longer-term (secular) as it embeds itself in the economy and expectations of higher prices in the future rise. We believe there are components of both – ergo “SECULATORY”.

We reach this conclusion by looking at the three basic components of production, manufacturing, logistics (shipping), and labor. From now on and assuming that the current social problems do not become widespread (see the blockade of the Ambassador Bridge in Ontario), we believe that the inflation of the first two components of production will decrease. Fortunately, however, individual labor costs will continue to rise, which should, in turn, contribute to economic growth, as most of these earnings will be used to purchase goods and services.

We write individually because, overall, we believe rising labor costs will eventually be mitigated as the disinflationary impact of technology that has caused the low rate of inflation over the past 2010s will begin to reassert itself. Nevertheless, we expect an inflationary environment in the range of 2.50% to 3.50%, similar to the first decade of this century and not like the 1970s, a period of runaway inflation.

Given the rise in the two-year U.S. Treasury to around 1.50%, the bond market is already pricing in six 0.25% hikes in the federal funds rate, the rate at which banks borrow excess reserves held at the Federal Reserve. Given that we believe runaway inflation is not currently a concern, we believe the Fed should take a measured approach. Whoever is deemed too aggressive may very well cause a recession.

This potential is already evidenced by the flattening of the yield curve.

Ultimately, during the second half of 2022, with a partial rectification of the manufacturing and logistics component of production, the disinflationary impact of technology as well as the process of quantitative tightening (QT) from next month, the Federal Reserve should be able to at least begin to substantially rein in recent price increases.

For equity investors, we recommend using a barbell approach. On the one hand are investments that pay dividends and perform well in an interest rate environment as described above, and secular producers on the other. Looking at fixed income, at least for the next quarter or two, expect continued pricing pressure as short-term yields trend higher.

We would also use market weakness rather than market strength to deploy additional capital as we expect continued volatility.

Please note that all data is for general information purposes only and does not constitute specific recommendations. The opinions of the authors do not constitute a recommendation to buy or sell the stocks, the bond market or any security contained therein. Securities involve risk and fluctuations in principal will occur. Please research any investment thoroughly before committing any money or consult your financial advisor. Please note that Fagan Associates, Inc. or related persons buy or sell securities for itself which it also recommends to its clients. Consult your financial advisor before making any changes to your portfolio. To contact Fagan Associates, please call (518) 279-1044.

]]>
2 reasons why you shouldn’t worry about a stock market crash – and 2 reasons why you should https://paydayadvanceusca.com/2-reasons-why-you-shouldnt-worry-about-a-stock-market-crash-and-2-reasons-why-you-should/ Sun, 06 Feb 2022 14:30:00 +0000 https://paydayadvanceusca.com/2-reasons-why-you-shouldnt-worry-about-a-stock-market-crash-and-2-reasons-why-you-should/ Jhe stock market has been turbulent lately and this volatility may cause investors concern. Coupled with the economic uncertainty we are facing at the moment (including soaring inflation and the potential interest rate hikes this year), some investors fear a crash is looming. To be clear, it is impossible to say for sure whether a […]]]>

Jhe stock market has been turbulent lately and this volatility may cause investors concern. Coupled with the economic uncertainty we are facing at the moment (including soaring inflation and the potential interest rate hikes this year), some investors fear a crash is looming.

To be clear, it is impossible to say for sure whether a stock market crash is coming or not, as even experts cannot predict exactly how the market will behave in the short term.

While no one knows for sure what’s in store for the stock market, there are a few reasons why you shouldn’t be worried about a potential crash — as well as two instances where a downturn might be of concern.

Image source: Getty Images.

Why you shouldn’t worry about an accident

1. The market will eventually rebound

Stock market crashes can be intimidating. No matter how long you’ve been investing, it’s scary to watch your portfolio lose value.

The most important thing to remember during times like these, however, is that the market as a whole has a very long history of recovering from downturns. In fact, since 1928, the S&P 500 has fallen more than 20% on 21 occasions. And each time he finally bounced back.

Of course, sometimes it takes months or years for the market to fully recover from a crash. But historically, it has always managed to bounce back stronger than ever.

2. It is almost impossible to time the market

In theory, the best investment strategy would be to take your money out of the market just before prices fall and then reinvest when they are at their lowest. It’s called market timing, and it’s a strategy that some short-term investors use to make a quick profit.

However, this tactic is almost impossible to pull off. Because the market is unpredictable, no one can say exactly when it will crash or when prices will bottom out. In many cases, the market will dip only to rebound a day or two later.

If you sell and prices recover quickly, you will miss out on these potential gains. Likewise, if you wait too long to sell and prices have already fallen significantly, you risk selling at a loss.

A safer bet, then, is to simply hold your investments regardless of what the market is doing. If prices go down, do your best to wait until they eventually recover.

When a potential accident could be of concern

1. You invest too much money

While market downturns are normal (and an inevitable part of the market journey), there are times when a downturn could potentially hurt your finances.

It is possible to invest too much money in the stock market, especially if you are investing money that you cannot afford to lose.

When the market deteriorates, stock prices can drop significantly. This makes downturns a particularly bad time to sell your investments. If all your money is tied up in stocks and the market crashes, you could find yourself in financial trouble if you incur an unexpected expense.

For this reason, it is wise to check that you have an emergency fund filled with at least six months of savings. Not only will this protect your finances in the short term, but it will also make it easier to keep your money in the market, which will help your investments grow more in the long term.

2. You are investing in the wrong places

The stock market itself has a long history of recovering from downturns, but that doesn’t necessarily mean that all individual stocks will be able to rebound equally. Poor quality stocks may not be strong enough to withstand high volatility, and if you have a lot of these investments in your portfolio, your savings could be at risk.

Before a downturn hits, examine each investment in your portfolio and ask yourself if its fundamentals are strong enough to survive the volatility.

Of course, no one can predict exactly how a stock will perform, but the healthiest investments have strong finances, a capable management team, and a competitive edge in their industry. With such strengths, a company has a better chance of recovering from a market downturn.

Market declines can be discouraging whether you are a new or a seasoned investor. However, by taking steps to prepare and maintain a long-term perspective, your portfolio is more likely to thrive no matter what.

10 stocks we like better than Walmart
When our award-winning team of analysts have investment advice, it can pay to listen. After all, the newsletter they’ve been putting out for over a decade, Motley Fool Equity Advisortripled the market.*

They have just revealed what they believe to be the ten best stocks for investors to buy now…and Walmart wasn’t one of them! That’s right – they think these 10 stocks are even better buys.

View all 10 stocks

Equity Advisor Returns 6/15/21

The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

]]>
MELD launches the first noncustodial and decentralized lending and borrowing protocol based on the Cardano Smart-Contract blockchain https://paydayadvanceusca.com/meld-launches-the-first-noncustodial-and-decentralized-lending-and-borrowing-protocol-based-on-the-cardano-smart-contract-blockchain/ Thu, 03 Feb 2022 16:26:22 +0000 https://paydayadvanceusca.com/meld-launches-the-first-noncustodial-and-decentralized-lending-and-borrowing-protocol-based-on-the-cardano-smart-contract-blockchain/ $45M Raised Through World’s First ISPO and Private Token Sale SINGAPORE – February 3, 2022 – (Newswire.com) MELD is an innovative new startup launched today with a mission to level the playing field between the financial “haves” and the “have nots”. Created to serve the more than 2 billion members of the world’s population who […]]]>

$45M Raised Through World’s First ISPO and Private Token Sale

SINGAPORE – February 3, 2022 – (Newswire.com)

MELD is an innovative new startup launched today with a mission to level the playing field between the financial “haves” and the “have nots”. Created to serve the more than 2 billion members of the world’s population who are underbanked or without any banking capacity, MELD provides a range of financial tools and solutions built around mining cryptocurrency assets like collateral for fiat or crypto loans.

MELD is unique in terms of token launches as it already boasts nearly 40,000 token holders. MELD was the first company to successfully complete an ISPO (Initial Stake Pool Offer), which attracted US$1 billion worth of crypto (in ADA tokens) in less than 3 months and helped the company raise $10 million US dollars for its own funding ($45 million in total raised to date via an additional private token sale).

Specifically, MELD represents the first decentralized protocol that integrates fiat lending capabilities into the cryptocurrency ecosystem. MELD enables low-friction transactions between crypto and fiat positions, while retaining control of digital assets owned by a customer. The MELD token can be staked on MELDapp to provide assurance for the MELD protocol. By doing so, MELD bettors will earn an APY through protocol fees and liquidity reward programs (up to 15% currently). The MELD protocol was created to link the on-chain (crypto) and off-chain (fiat) worlds, as well as to unite the many Blockchains and DeFi protocols.

MELD was designed as a world-class DeFi protocol, powered by the Cardano blockchain and smart contracts to ensure full transparency and fairness for all parties (including token minting and distribution). The MELD token is used for protocol governance, and users can stake it to earn yield. MELD capitalizes on Cardano’s transaction efficiencies compared to legacy blockchains, dramatically reducing fees by over 99% compared to ETH-based solutions.

The service is expected to gain popularity rapidly in the EU and in countries such as El Salvador and Nigeria, where cryptocurrency is already fiat currency or widely used. MELD tokens will be available for purchase from major crypto exchanges such as Bitrue and FMFW starting today, February 3, 2022.

MELD will provide unique and innovative new financial services never before offered by traditional banks, including not only standard cryptocurrency-backed loans, but also the company’s unique Genius Loans™. With a Genius Loan, the customer collateralizes their cryptocurrency and takes out a loan with a slightly higher interest rate. The client is only required to repay the interest on the loan, while the return generated from the crypto collateral repays the principal.

MELD also offers a Crypto Secured Line of Credit (CBCL), which provides a valuable and flexible tool for managing fiat cash needs while only being exposed to interest on the amount of fiat currency used. The CBCL works in conjunction with the MELD debit card where users can spend with their MELD card both at the point of sale and online. The CBCL works like a fiat loan, where the cryptocurrency is collateralized in a smart contract and 50% of the value of the collateral can be used as a line of credit. Margin calls and liquidation events work the same way in the line of credit product as in the MELD loan.

Users interact with MELDapp via iOS™, Android or in the browser to easily access their digital assets to lend, borrow and manage the services offered by MELD. Security is significantly improved over competing wallets as customers retain keys to their assets at all times.

Finally, MELD also enables so-called “MELDed assets”, where anyone can import tokens from other blockchains such as BTC, ETH, and BNB directly into the smart contract-enabled blockchain. Third-generation Cardano. This not only increases the liquidity of the crypto, but also allows people to stay in the crypto of their choice for a long time instead of forcing them to use only Cardano’s ADA tokens. MELD also benefits from the superior performance and user transparency of Cardano.

“We are excited to provide billions of people with a new way to access powerful financial instruments, products and services – only better and more innovative thanks to the power of the MELD protocol,” said Ken Olling, CEO of MELD. “Offering a way to stake cryptocurrency as collateral against a fiat loan is powerful for many reasons – not the least of which is to protect highly volatile cryptocurrencies from being forced-sold during a dip. We are very excited to provide unique financial products and services to our customers in the coming months as MELD tokens are widely shared across different exchanges.

About MELD:

MELD (Singapore) focuses on decentralized finance (DeFi), with the long-term goal of enabling over 2 billion people – who are underbanked or have no access to banking services – to access tools and solutions built around mining cryptocurrency assets. Services offered by MELD include creating cryptocurrency-backed loans, obtaining fiat loan interest return to borrowers, and participating in reward incentive programs. MELD allows instant lending against cryptocurrency holdings at a competitive APR, or to receive a line of credit and only pay interest on what you use. A world-class DeFi protocol using the Cardano platform, MELD uses smart contracts to ensure complete transparency and fairness for all parties, including both minting and token distribution. The company has currently raised $10 million via an ISPO in Q4 2021 and an additional $35 million via a private token sale. For details, visit www.meld.com.

Contact: Christine Weissmann | Attika Intelligence | [email protected] | 321-203-9325

-30-

All aforementioned trademarks and registered trademarks are acknowledged and acknowledged as the property of their respective owners.

press release department
through
Newswire.com

Primary source:

MELD launches the first noncustodial and decentralized lending and borrowing protocol based on the Cardano Smart-Contract blockchain

]]>