Year: 2017

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SGP rules state budget deficits of EU countries must adhere to an upper limit of three percent. Looking ahead, the deficit is projected to reach 3. I am extremely Francophile, but the French spend too much money. And they spend it in the wrong places. This will not work over time. Unlike his main presidential rivals, Macron promised to cut public spending and bring the deficit to below three percent.

At the start of the year, Finland became the first European country to provide citizens with an unconditional basic income. The prospect of providing people with a state-funded basic income corredor de forex askape nothing new: Modern welfare models often discourage job seekers, with complex conditions prompting many to decline work for fear of losing out.

The Finnish experiment represents a milestone in a wider movement; support for universal basic income is growing across Europe. Speakers at the World Economic Forum have also endorsed the idea, arguing it would preserve social cohesion in the face of rapid developments in technology.

Benefit system failure The predominant welfare model centres on the assumption citizens need forceful incentives corredor de forex askape make them work, with most developed nations administering a complex structure of sanctions to coerce people into employment.

Thus, the seemingly radical notion of providing an unconditional pay packet has prompted a second look at the function of incentives in the job market. While common criticisms suggest the policy would create a dysfunctional economy of layabouts, it seems the opposite may, in fact, be true.

Current welfare models often discourage those seeking employment, with complex conditions prompting many to decline work for fear of losing out. This effect is compounded when the majority of available jobs are poorly paid, unstable, part time or gig-based. Perhaps surprisingly, it is this freedom to say no corredor de forex askape employment that could spark one of the most important economic benefits of the policy.

Given the ability to escape the punitive consequences of unemployment, people would be able to take their time, finding jobs better suited to their abilities and providing greater stimulation.

It would also afford individuals the freedom to continue education, train in new disciplines or experiment with business ideas. In turn, this could lead to greater productivity and innovation, as people are free to pursue careers in areas in which they feel they can make a notable contribution.

Crucially, this will devalue the corredor de forex askape many have cultivated throughout their careers. Of course, many remain unconvinced the hefty price tag of an unconditional basic income is a viable state expenditure.

However, with the oncoming fourth industrial revolution, skills will continue to be outmoded at an alarming corredor de forex askape, prompting further inequality and testing social cohesion. The existing welfare model will look increasingly outdated as employment becomes more reliant on part time and gig-based workers. The coming reality of disruptive technologies, job insecurity and unprecedented inequality will only add fuel to the argument that there is a missing piece in our economies.

Growth is expected to reach 2. The projected recovery confirms a rupture with past trends, with expectations falling well short of the growth figures seen before the global commodity slump. While some countries like Senegal and Kenya are still growing strongly — posting growth rates of over six percent — growth has slowed in two-thirds of the region.

At the fastest end of this multi-speed growth is Ethiopia, which is forecast to grow 7. While a slight uptick in commodity prices is likely to provide some relief, many countries in sub-Saharan Africa are being held back by heavy debt burdens.

The region has suffered a serious commodity price shock in recent years, with many nations relying on commodity incomes to support the balance of payments and public finances. While a slight corredor de forex askape in commodity prices is likely to provide some relief, many countries are being held back by heavy debt burdens. Such debt loads are clouding the potential for recovery, creating uncertainty and holding back investment.

In particular, oil exporters such as Angola, Nigeria and the countries of the Central African Economic and Monetary Union are still corredor de forex askape to deal with the budgetary revenue losses and balance of payments pressures, some three years after the fall in oil prices. In the years since, a series of new regulations have demonstrated Turkish interest in making its renewables market a priority in the national energy agenda. In Octobera regulation on renewable energy zones REZs was introduced.

This allowed structured investments in green power sources, supported by an incentive scheme for licensed renewable energy generation. If these targets are met, wind capacity will be doubled and solar capacity increased fourfold, compared with figures.

Furthermore, an independent market study by KPMG showed power generation in Turkey totalled million MWh inincluding both licensed and unlicensed generation. Total consumption, by comparison, has been recorded as billion kWh, with an increase of 2. Zone system Under the regulation, REZs may be developed on public or private land.

The regulation empowers MENRA to identify suitable areas by taking into account corredor de forex askape set of corredor de forex askape, including the type of power to be generated, generation potential, unit electricity costs and connection capacity.

A series of new regulations have demonstrated Turkish interest in making its renewables market a priority in the corredor de forex askape energy agenda. The eligibility criteria for investors interested in applying for tender in an REZ include the requirement to either manufacture certain equipment as decided by MENRA locally, or to commit to using locally manufactured equipment. In either case, corredor de forex askape equipment must conform to conditions set out by the electricity licensing regulation.

The participant offering the lowest price is invited to execute a right-of-use agreement. Consortiums are permitted to participate in the tender. It is a requirement, however, that corredor de forex askape joint venture company with the same shareholding structure as submitted in the tender application is incorporated in order to sign the right-of-use agreement.

Complying with requirements Additionally, the REZ regulation makes it mandatory for investors to acquire a pre-licence in order to engage in electricity generation activities within a REZ. The term of the pre-licence must not exceed 24 months, except in cases where unforeseen circumstances render this impossible. This pre-licence is an essential requirement for the corredor de forex askape agreement to be effective. Under the REZ regulation, the pre-licence holder must comply with existing legal requirements for allocations made in consideration of domestic production and the use of domestic goods.

Essentially this means that, in order to qualify for a generation licence, strict compliance is required on the part of the pre-licence holder in construction of the manufacturing plant and the generation facility under the tender specifications. The licence is granted for a maximum of 30 years. The electricity generated by these means must be sold during the term agreed in the tender specifications and at the price set in the right-of-use agreement.

Additionally, the agreement will remain subject to further regulation throughout the term. The agreed term for the sale and purchase of electricity corredor de forex askape the tender specifications begins once the right-of-use agreement is executed. From a practical standpoint, REZs are expected to overcome the existing financing difficulties facing renewable energy projects, which tend to depend on high volumes of external investment from lenders.

The guaranteed purchase system is aimed at incentivising investment by providing a predictable cash flow over a predictable time period — i. The Intercontinental Corredor de forex askape ICEa global network of regulated exchanges and clearing houses for financial and commodity markets, has announced it will abandon its GPS-based timekeeping system in favour of a more accurate atomic clock.

The new MiFID II regulations — set to be introduced corredor de forex askape the corredor de forex askape of next year — will require financial organisations to achieve traceability of trading events with an accuracy level of up to one thousandth of a second. UBS has also shifted to the atomic system, making it the first major bank to move in anticipation of the upcoming MiFID requirements.

In a world where high frequency algorithmic trading has become the norm, losing time can be costly, especially when interferences occur.

Timing issues have led to trading irregularities with the potential to disrupt markets. Such disruptions can create issues for keeping a reliable audit trail.

High frequency trading represents around 30 percent of UK trades and 50 percent in the US — precise timing offers [a] competitive advantage. The Islamic interest-free model has encouraged innovation, both in terms of product offerings and corredor de forex askape support. In a break from convention, Islamic banks aim to function as true financial partners for their clients, as opposed to taking on the old-fashioned role of bank as lender.

However, this positive intent has been held back by the issue of standardisation. Despite the best efforts of industry bodies, there is still no agreed interpretation of religious rules in relation to banking. Thankfully, this is starting to improve, as key players mature and the benefits of interbank transactional business becomes apparent. How corredor de forex askape Islamic banking changed in recent years? Since the early 20th century, the Islamic banking industry has flourished.

It has been identified as the fastest growing segment within the global financial market. After the financial crisis, the corredor de forex askape world realised that there must be something wrong with the status quo; the lack of solid corredor de forex askape assets put banks at risk of huge deficit and bad assets.

Conventional banking sees money as an asset and applies charges according to amount and time. Why has demand risen so dramatically? Several elements have boosted the growth of Islamic banking. The introduction of banking for the unbanked is a major factor, as a considerable proportion of the population in Muslim-majority, resource-rich countries believes that the conventional way of corredor de forex askape is not consistent with their religion and way of life.

Previously, these people operated their own equity sharing and financing systems through unofficial domestic institutions. The expansion of Islamic banking instruments, however, has brought them into the financial market.

The main challenge facing Islamic finance at the moment is the variety of Sharia regulations between countries, and even within each country.

Islamic banks play more corredor de forex askape a partnership role in business, rather than just acting as lenders. What challenges does the industry still face? These different interpretations of Sharia rules slow down growth. Such variety may seem positive in terms of corredor de forex askape different views and demands, but in general, not having a unified approach causes rifts between Islamic banks.

To overcome this difficulty, it might be useful for corredor de forex askape Islamic banks and financial associations to follow an agreed set of rules and regulations. ICS BANKS Islamic consists of an Islamic core system that provides common operations between various banking activities, and a series of Islamic modules that cover the various different operational and business requirements of our specialised segments. Its modular architecture fully supports various business needs within the organisation, including core Islamic banking, investments, treasury, trade finance, and profit calculation and distribution.

Our solutions have allowed banks to achieve a competitive edge corredor de forex askape offering a complete, integrated, end-to-end suite of Islamic banking applications. ICSFS corredor de forex askape proactively and reactively enhances the business and technological demands of its users with its precise and accurate platform design.

This has been created to be relevant for all emerging business trends. Added to this, ICSFS also has a vast pool of highly qualified, certified Islamic bankers, certified Islamic specialists in accounting, and experienced operators with wide technology and banking expertise.

We support these experts with proven development and analysis methodology, and research and development expertise that meet Islamic industry standards. Ina surplus in oil production combined with weakening global demand sent crude prices crashing to near historic lows. In an effort to soften the economic impact of this unprecedented drop in prices, OPEC corredor de forex askape production cuts throughout its member states, the most recent of which promised to remove 1.

Although crude prices have somewhat rallied in the wake of these cuts, the crisis has created an uncertain future for the oil-rich nations of the GCC, with many states now looking to diversify their economies as a matter of urgency.

On the surface, the small, petroleum-rich nation of Kuwait appears to be particularly vulnerable to volatile changes in oil prices. Since the country made its first crude oil shipment in Junepetroleum has been a cornerstone of its economy.

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Rare Birds in Spain Recent Reports: Latest sightings What is this? This month's homologation statistics. See also last month news for late updates or long-stayers. The author believes this bird to be the "accepted" recorded bird that has been recorded regularly by him and Others at the area near Alfonso XIII during the last year or so. It was certainly a gularis gularis and not a hybrid. John Butler Still there on Still there on See more information here opens in another window.

Menos en pecho, cuello y cabeza. See a photo of the bird is at http: These birds are together in a group are are easy to locate but they are very untrusted; some of them were photographed C. See a thumbnail here. Ignacio Dies at the same place. See a thumbnail here Image by Bosco Dies. The bird was last seen on See a photo below. This is the second ringed in the area and 2nd for Iberia.

A first summer male Indigo Bunting was ringed in Gibraltar on It was lacking its tail. Could become if submitted and accepted a fourth for Spain. This month homologation statistics: Rarities reported so far this month. A drake mallard front with two females Goldeneye in the background at Azud de Riolobos, Salamanca, on 4. The 1st Valencia Collared Flycatcher reported this month as seen on See another larger image with the text.

The adult Temminck's Stint at Marjal de Pego on The 2nd Valencia Collared Flycatcher reported this month as seen on One of the two Temminck's Stints at Marjal de Pego on The Llobregat delta Roseate Tern as seen on