By Sanjay Kumar Published: April 12, 2019 0 SHARES Share Tweet Email India's Prime Minister Narendra Modi addresses an election campaign rally in Junagadh, Gujarat, India on April 10, 2019. PHOTO: REUTERS With India now fully in election mode, only one question reigns supreme in the minds of the people of India as well as the world: should Narendra Modi become the Indian prime minister again? Has he ushered in the “ache din” (good days) he promised five years ago? This question is polarising India. It is, however, a valid question. This is a man who came to power in 2014 with a promise to usher in a new era of development, coined a popular new slogan “sabka saath, sabka vikas” (collective effort, development for all), assured the nation he would address the issue of corruption, and promised a regime of maximum governance and minimum government.Five years down the line, this is precisely the time to assess Modi’s performance and ask the … [Read more...] about Voting for Modi again? 6 questions every Indian should ask
Entry for bad debts
EU states soften draft rules for banks’ bad debt
By Francesco Guarascio BRUSSELS (Reuters) - European Union diplomats agreed on Wednesday to soften draft rules on the money banks should set aside to cover potential losses on new loans, in a move aimed at helping countries such as Italy that have huge piles of bad debt. A decade on from the 2008 financial crisis, bad loans are still curbing many euro zone banks' ability to lend and so support economic growth. Their shares have dropped more than 20 percent <.SX7P> this year amid signs the global economy is cooling, with Italian banks down more than 25 percent <.FTIT8300> as a eurosceptic government took office in Rome in June. The deal agreed on Wednesday unexpectedly softens legislative changes proposed in March by the executive European Commission, but it still needs approval of the EU parliament. Under the proposal outlined in an EU statement, banks will have more time to set aside money to cover potential losses from new loans. States backed extending to three years, … [Read more...] about EU states soften draft rules for banks’ bad debt
With home prices in metro Denver up 65 percent, renting long-term may not be a bad option
When it comes to buying homes, young adults are moving at a turtle’s pace compared to earlier generations. But the decision to keep renting isn’t necessarily a bad one. “The choice is more complex than people think,” said Teo Nicolais, an instructor at the Harvard Extension School who specializes in real estate. “From a purely financial standpoint, the correct move is to rent the apartment or home you need in your 20s and 30s.” Millennials, he advises, would do well to pocket the savings renting generates versus owning and set it aside for a larger home in a location that better fits future needs, i.e. the family home out in suburbs. In 2006, about half of 31 year olds owned their own homes. But in 2016, the age where half of adults owned their homes had risen to 36, according to Chris Porter, demographer with John Burns Real Estate Consulting. Several things are driving the five-year lag in ownership. Young adults shoulder a large portion of the … [Read more...] about With home prices in metro Denver up 65 percent, renting long-term may not be a bad option
EU lawmakers face opposition to softening bank rules on bad loans
By Francesco Guarascio LUXEMBOURG (Reuters) – A vote by European Union lawmakers to soften capital rules for banks that offload large amounts of bad loans is meeting resistance and could be ditched, officials said, in what would be a blow to Italian lenders profiting from the planned reform. Under a proposal adopted by the economic affairs committee of the European Parliament last Tuesday, EU banks that carry out “massive disposals” of non-performing loans, covering at least 15 percent of all defaulted debt, would be allowed to set aside less capital against losses. The move is a “deviation from international standards” aimed at reducing banking risks, one European official told Reuters. The Parliament’s vote amended a banking overhaul proposed by the European Commission that had been endorsed by the Council of EU finance ministers in May. To become law, a final deal is needed among the three EU institutions, under trilateral talks due to begin in … [Read more...] about EU lawmakers face opposition to softening bank rules on bad loans
These Detroiters aren’t looking for jobs. Why might surprise you
John Gallagher Detroit Free Press Published 8:31 p.m. UTC Jun 8, 2018 Even as the nation enjoys a historically low jobless rate and downtown Detroit booms with thousands of new workers and dozens of new projects, the long-term lack of work opportunities for Detroiters threatens to hold back the city for years to come. Almost half of Detroit’s working-age residents aren’t even looking for a job — at 53.4 percent, it's the lowest workforce participation rate in the nation and a symptom of poverty and poor educational attainment. Tyrone Burks and Isaiah Phlegm put a human face on some very bleak statistics. Burks, 37, spent 10 years in a state prison for a sexual misconduct conviction. Released in 2013, he has worked temp jobs since, but struggles to find better full-time work. “It’s been real hard finding people that’s willing to give a person a shot to basically get back into the community. That’s been the hardest,” … [Read more...] about These Detroiters aren’t looking for jobs. Why might surprise you