Loan Assessment – Regiofora http://regiofora.com/ Mon, 20 Jun 2022 07:59:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://regiofora.com/wp-content/uploads/2021/07/icon-5-150x150.png Loan Assessment – Regiofora http://regiofora.com/ 32 32 Gold and silver trade up ahead of European open https://regiofora.com/gold-and-silver-trade-up-ahead-of-european-open/ Mon, 20 Jun 2022 07:01:00 +0000 https://regiofora.com/gold-and-silver-trade-up-ahead-of-european-open/ Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here ! (Kitco News) – Gold (0.19%) and silver (0.11%) are trading higher ahead of the European open. In the rest of the commodities […]]]>

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here !

(Kitco News) – Gold (0.19%) and silver (0.11%) are trading higher ahead of the European open. In the rest of the commodities complex, copper is down 0.31% and spot WTI is 0.15% in the red.

The indices traded lower overnight, with the Nikkei 225 (-0.74%) and ASX (0.64%) both falling, but the Shanghai Composite closing flat. Futures contracts in Europe are stable before the opening of the treasury.

In the FX markets, the biggest move was AUD/USD which rose 0.63%. In the crypto space, BTC/USD fell below $20,000.

Weekend news:

The Fed’s Waller backs another 75 basis points in an all-in fight to reduce inflation.

The Japanese government keeps the overall economic assessment unchanged in June.

The PBOC leaves the one-year prime rate unchanged at 3.70%, as expected.

Macau reports 34 positive covid cases.

French President Macron failed to secure a majority in parliament.

New Zealand May Business NZ PSI 55.2 vs 49.2 before

Germany May PPI +1.6% vs +1.5% m/m expected.

June Rightmove UK house price index +9.7% YoY vs. +10.2% previously.

For the remainder of the session, the United States is closed for a holiday and there is not much on the data slate. There could be comments from ECB’s Lagarde, Panetta, Lane Kazaks, Fed’s Bullard and BoE’s Mann.


Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.

]]>
Galway businessman blocks sale of six residential properties https://regiofora.com/galway-businessman-blocks-sale-of-six-residential-properties/ Tue, 14 Jun 2022 15:37:25 +0000 https://regiofora.com/galway-businessman-blocks-sale-of-six-residential-properties/ A businessman has won a temporary High Court injunction preventing a receiver from selling or interfering with six residential properties in Galway and Limerick. The order was obtained following an application to the High Court by solicitors acting for Martin Brennan against receiver Mr David O’Connor, a corporate recovery specialist and partner at BDO Ireland. […]]]>

A businessman has won a temporary High Court injunction preventing a receiver from selling or interfering with six residential properties in Galway and Limerick.

The order was obtained following an application to the High Court by solicitors acting for Martin Brennan against receiver Mr David O’Connor, a corporate recovery specialist and partner at BDO Ireland.

The court heard that earlier this year Mr O’Connor was appointed receiver by a financial fund following an alleged default in repayment of €2million loans advanced to the plaintiff in 2006 by EBS.

Mr Brennan of Monivea Road, Ballybrit in Galway challenges the validity of the receiver’s appointment and has brought separate proceedings arising out of the management and security arrangements of the loan in question.

The injunction prevents Mr. O’Connor from selling, preparing to sell or interfering with the six properties owned by Mr. Brennan.

The injunction was granted, on an ex parte basis, by Justice Kerida Naidoo during Tuesday’s recess session of the High Court.

The judge said he was granting the injunction primarily because he was concerned that the defendant receiver had not responded to correspondence sent by the plaintiff’s attorney.

The injunction is to remain in place until the case returns to the High Court next week.

Cottages

Seeking the injunction Venetia Taylor Bl, mandated by lawyer Donnacha Anhold for Mr. Brennan, said that this case arose from a loan of 2 million euros taken out by Mr. Brennan in 2006 from EBS to enable him to participate in a tax investment scheme.

The scheme involved him buying five cottages, for which he would receive rent, at the Montenotte Hotel in Cork, the solicitor said.

EBS obtained security for these properties, the attorney said.

Under the terms of this agreement, he claims that the developers have agreed to buy back the units after ten years.

The lawyer said the developers had not bought out the units, which Mr. Brennan is bringing a separate lawsuit to find out where he is seeking to enforce the contract for these properties specifically by the three parties he says has promoted the program.

The lawyer said that in 2011 EBS pressured him to give him additional security on the 2006 loan.

The solicitor said at the time his client did not know why he was being harassed by EBS to give him the extra security on four other properties he owned in Galway city.

The solicitor said what his client subsequently discovered was that EBS had carried out an independent valuation of the title to the chalets and concealed the fact that the security he held on the chalets n had no commercial value.

Mr. Brennan only holds the 25-year lease on these properties because the freehold interest in the cottages which he claims should have been given to him under the plan, was never transferred to the plaintiff.

EBS’ lawyer said he did not advise Mr Brennan to seek independent legal advice regarding the five cottages.

The loans Mr Brennan took out were later acquired by Everyday Finance DAC, against whom he is taking legal action, his lawyer said.

Can be sold

Last May, Everyday appointed a receiver for five properties in Galway and one in Limerick owned by Mr Brennan, his lawyer said.

Tenants of these properties were asked to pay rent to the receiver.

Mr Brennan now fears the properties will be sold.

The attorney said Mr. Brennan disputes the validity of the receiver’s appointment.

However, the receiver did not provide their client with proof of his appointment of attorneys.

No response was sent by the Receiver to correspondence sent by Mr. Brennan’s attorney added.

In the circumstances Mr Brennan, in his seventies, fears the properties will disappear before he has a chance to challenge the appointment of receivers, the lawyer said.

Accordingly, his client sought an injunction against Mr. O’Connor.

The attorney said his client had established a fair question to be tried, that the balance of justice was in favor of granting the injunction, and that damages would not be an adequate remedy.

]]>
How a chewing gum heir fell into a sticky situation with weed https://regiofora.com/how-a-chewing-gum-heir-fell-into-a-sticky-situation-with-weed/ Sun, 12 Jun 2022 14:41:39 +0000 https://regiofora.com/how-a-chewing-gum-heir-fell-into-a-sticky-situation-with-weed/ But less than six months after signing that deal, Parallel’s underlying financial issues began to surface. In September 2021, the plan to go public via the SPAC deal imploded. Ceres Acquisition Corp. declined to comment for this story, but Reuters reported at the time that the parties had mutually decided to pull out of the […]]]>

But less than six months after signing that deal, Parallel’s underlying financial issues began to surface.

In September 2021, the plan to go public via the SPAC deal imploded. Ceres Acquisition Corp. declined to comment for this story, but Reuters reported at the time that the parties had mutually decided to pull out of the merger and that the SPAC had lost faith in Parallel’s financial projections on which it had relied to close the deal.

Difficulties accessing capital due to federal illegality have helped make SPACs a popular way for cannabis companies to access public markets in recent years, thanks to lower barriers than a traditional IPO. . SPACs – also known as “blank check corporations” – entice investors for the express purpose of acquiring another company and taking it public. Generally, if SPAC has not successfully acquired its acquisition within two years, investors are entitled to their money back.

But they have caught the attention of regulators and federal lawmakers, who have expressed concern that many of the deals are based on questionable financial numbers. The SEC has proposed rules that would impose greater disclosure requirements for SPAC transactions, bringing them in line with more traditional IPOs.

The collapse of the SPAC deal left Wrigley and other senior company officials scrambling to raise money to pay off debts and prevent the company from collapsing, according to an investor. lawsuit filed in the U.S. District Court for the Southern District of Florida in March.

The ultimate goal: to make the business attractive enough to attract a new buyer in the first half of 2022, according to the complaint.

These plaintiffs allege they were persuaded to provide $25 million, on the understanding that the company would collect an equal sum from other parties, including Wrigley himself.

Parallel officials told them that “cannabis industry players were turning on their phones and queuing, unsolicited, to buy the company,” according to the complaint.

But as soon as they dispatched the funds in September 2021, according to the complaint, it became clear that Parallel was in a much worse financial situation than they had been told. The complaint alleges the following details: In August, the company had forecast revenue of $618 million for 2022. But by October, that figure had fallen to $492 million. Three months later, projected revenue for 2022 had fallen to $362 million. This group of investors also claims to have discovered shortly after committing the $25 million that Parallel was defaulting on more than $300 million in debt.

“His projections were an inflated fantasy,” the complaint reads. “We had to [$25 million investment] to make Ponzi-like payments to other investors.

Lawyers for the company declined to comment on the allegations.

It’s common to see outrageous projections in cannabis industry investment decks, in part because the pace of policy change is so unpredictable, said Matt Karnes, founder of analytics firm Greenwave Advisors. Cannabis-focused finance. Lucrative state markets like New York may seem close to legalizing marijuana, but end up taking years to do so. And even after a state legalizes weed, it often takes longer than expected for markets to be up and running.

Over the past nine months, many major cannabis companies have lowered their revenue targets or missed their projections, Karnes said. The parallel is “not out of place in this regard, it’s just that the magnitude is deeper”.

Kaufman, the New York cannabis lawyer, further points out that it is not necessarily unusual for companies to revise their financial projections downward after securing funding or to raise funds that would help repay investors. previous ones.

“It’s business. You see that in the tech world all the time,” Kaufman said. “It’s going to be very difficult to say at this stage of the proceedings” whether this was a Ponzi scheme, since Parallel had a real business.

Cherished Deals and Insider Paydays

A second investor lawsuit was filed in the Supreme Court of the State of New York in March. This group of aggrieved investors includes John Morgan, a prominent Democratic lawyer and donor known to the Florida cannabis community as “Pot Daddy.” This nickname comes from the fact that he funded the 2016 campaign to legalize medical marijuana and funded a lawsuit that opened up the market to allow cannabis to flourish. Morgan did not respond to requests for comment for this story.

It’s likely that Morgan isn’t the only prominent individual among disgruntled investors. The other plaintiffs in the lawsuit are investment vehicles registered in the British Virgin Islands and Cyprus – known to be international tax havens with strong anonymity protections.

]]>
Chelsea announce exit list with four more stars including Andreas Christensen and Charly Musonda https://regiofora.com/chelsea-announce-exit-list-with-four-more-stars-including-andreas-christensen-and-charly-musonda/ Fri, 10 Jun 2022 15:01:00 +0000 https://regiofora.com/chelsea-announce-exit-list-with-four-more-stars-including-andreas-christensen-and-charly-musonda/ CHELSEA have announced the clubs’ exit list for the end of the 2021/22 season. After a season that saw the Blues win the Club World Cup and reach the FA Cup and Carabao Cup finals, a number of stars have been released following contract expirations. 3 Christensen leaves Chelsea after 10 years with the clubCredit: […]]]>

CHELSEA have announced the clubs’ exit list for the end of the 2021/22 season.

After a season that saw the Blues win the Club World Cup and reach the FA Cup and Carabao Cup finals, a number of stars have been released following contract expirations.

3

Christensen leaves Chelsea after 10 years with the clubCredit: PA
Drinkwater was anything but a regular player for Chelsea

3

Drinkwater was anything but a regular player for ChelseaCredit: PA: Press Association

Among the most notable names on the list are Andreas Christensen, Danny Drinkwater and Charly Musonda.

Of those 24, Christensen had the most profound impact on the first team – winning six trophies with the Blues, including the Champions League when he came off the bench for an injured Thiago Silva in the final.

The centre-half made 161 appearances for the Chelsea first team, scoring two goals and registering two assists.

He ends a 10-year association with Chelsea and is now expected to join Barcelona.

Drinkwater joined Chelsea from Leicester City two seasons after helping Leicester City win an unprecedented title in 2015/16 but made just 23 appearances in his time at Stamford Bridge.

In a heartfelt and brutally honest assessment of his time at the club, Drinkwater described the £35million transfer as “a business decision gone wrong”.

The 32-year-old said: “I, the club and the fans are extremely disappointed with the result, there’s no doubt about that.

“The injuries, the way I was treated, the mistakes I made, the pitch problems, the lack of playing time…the list of excuses could be endless but I wouldn’t and can’t change what happened.

“Football is a fantastic sport, but for both parties it was a business decision gone wrong, it’s as black and white as that.”

Musonda’s time at Chelsea would eventually become another victim of Chelsea’s ruthless loan system.

The 25-year-old joined the Blues Academy as a researcher in 2013 and was part of youth teams that won numerous accolades including the FA Youth Cup and the Under-21 Premier League.

The attacking midfielder has made just seven first-team appearances, spending the majority of his time as a senior player either on loan or sidelined through injury.

Jake Salter-Clarke, 24, was also on the list, appearing only twice for Chelsea’s senior side during a 16-year association with the club.

He was on loan with Coventry in the Championship last season where he appeared 31 times.

Antonio Rudiger has also been noted at the top of Chelsea’s list, but a move to Real Madrid was confirmed for him earlier this month.

Rudiger (R) will join Chelsea legend Hazard (L) at Real Madrid

3

Rudiger (R) will join Chelsea legend Hazard (L) at Real MadridCredit: Getty
]]>
Explained: Here’s How RBI’s 50 bps Repo Rate Rise Affects You https://regiofora.com/explained-heres-how-rbis-50-bps-repo-rate-rise-affects-you/ Wed, 08 Jun 2022 23:09:19 +0000 https://regiofora.com/explained-heres-how-rbis-50-bps-repo-rate-rise-affects-you/ In its bi-monthly review on Wednesday, the Reserve Bank of India raised the repo rate by another 50 basis points. This decision and the RBI’s emphasis on withdrawing its accommodative policy, both in response to rising inflation, are expected to drive interest rates higher in the banking system. Why did RBI increase the repo rate? […]]]>

In its bi-monthly review on Wednesday, the Reserve Bank of India raised the repo rate by another 50 basis points. This decision and the RBI’s emphasis on withdrawing its accommodative policy, both in response to rising inflation, are expected to drive interest rates higher in the banking system.

Why did RBI increase the repo rate?

The 50 basis point increase, which follows a 40 base point hike on May 4, was made with a view to controlling inflation. Noting that headline inflation increased by 170 basis points between February and April 2022, the RBI projected it at 7.5% in the first quarter of FY22, 7.4% in the second quarter, 6.2 % in the third quarter and 5.8% in the fourth quarter, with core inflation of 6.7% for 2022-23. The RBI aims to bring inflation back to its target of 4% (±2%). The two repo rate hikes in the past five weeks, totaling 90 basis points, bring the rate to 4.9%.

The repo rate refers to the rate at which the RBI lends to commercial banks. When interest rates rise, it makes money more expensive, which leads to reduced demand in the economy and lower inflation.

The best of Express Premium
Prime
The box office failure of Prime
UPSC Key-June 8, 2022: What is the relevance of 'Agneepath' or 'Pub...Prime
Explained: Here's How RBI's 50 bps Repo Rate Rise Affects YouPrime

Although it appears to be supporting the economic recovery from the impact of the pandemic, RBI’s concerns over inflation have been the main driver of the rate hike. He said in his statement on Wednesday: “War in Europe persists and we face new challenges every day that compound existing supply chain disruptions. As a result, food, energy and commodity prices remain high… Much of the rise in inflation is mainly attributed to a series of war-related supply shocks. In these circumstances, we have begun a gradual and orderly withdrawal of the extraordinary accommodations instituted during the pandemic. »

What will be its impact on borrowers and depositors?

While borrowers and depositors should see higher lending rates and offers on deposit rates, respectively, over the coming days and weeks, borrowers should be hit earlier. Banks and housing finance companies, which have already raised lending rates between 40 basis points and 50 basis points after May’s 40 basis point repo rate hike, are now expected to raise rates again .

If the 90 basis point hike in the repo rate increases the lending rate by 100 basis points, it will have a significant impact on EMIs. For example, if your home loan rate increases by 100 basis points from 7% in April to 8% in the next two weeks, the EMI on principal outstanding of Rs 50 lakh for 15 years will increase to Rs 44 941 to Rs 47,782 – a jump of Rs 2,841 per month if you keep the mandate unchanged.

If rates were to rise by 150 basis points by the end of the year (which is expected given RBI’s heightened inflation concerns), the lending rate would increase to 9.5% and the EMI for the same loan at Rs 49,236 – an increase of Rs 4,295 per month. This would severely hit people whose incomes have already fallen from pre-Covid levels.

So, are more rate hikes expected?

Given the RBI’s projected inflation of 6.7% for 2022-23 and heightened concerns over it, market participants believe it could opt for a further 50-100 basis point hike on the rest of the year. Indeed, RBI Governor Shaktikanta Das said that the future rate hike decision would be in line with inflation developments. “These are extremely uncertain conditions and it is not possible to provide any guidance on guidance…we will deal with it as the situation unfolds,” Das told media on Wednesday.

In a report released after the RBI’s rate hike, Bank of Baroda said: “RBI’s hawkish policy is largely focused on heightened inflationary concerns. It raised the policy rate by 50 basis points. The CPI forecast has been revised upwards by 100 basis points in FY23 to 6.7% (our estimate: 6.5%). More importantly, over the next three quarters, headline CPI is expected to trade above RBI’s upper tolerance range…We expect another 50-75bn ps rate hike in the current cycle .

A report by HSBC Global Research estimated that RBI could raise repo rates by 60 basis points to 5.5% by December 2022 and by 110 basis points to 6% by mid-2023.

What is the RBI’s assessment on inflation?

Inflation is expected to be above 7% – well above the RBI’s comfort level of 4% (±2%) – in the first two quarters of the current financial year. RBI forecast inflation of 7.5% in the June quarter and 7.4% in the September quarter. International crude oil prices remain elevated, with risks of further spillovers to domestic pump prices. Electricity price revisions also carry upside risks. Edible oil prices remain under pressure from unfavorable global supply conditions, despite a recent correction due to the lifting of an export ban by a major supplier. Early results from companies in the manufacturing, services and infrastructure sectors surveyed in RBI’s surveys suggest that they expect further pressures on input and output prices.

The RBI expects inflation of 6.2% in the December quarter and 5.8% in March 2023. The high level for calendar years 2022 is expected to force the RBI to raise rates further and withdraw system liquidity.

What will be the impact of the withdrawal of the accommodative policy?

Interestingly, the RBI removed the word “accommodating” from the policy position. The RBI Policy Panel, chaired by the RBI Governor, decided to remain focused on withdrawing accommodation to ensure inflation remains within target. The RBI had injected huge liquidity into the system in 2020 to counter the impact of the pandemic. Although this has supported the economic recovery, it has also been the main reason for the rise in inflation.

RBI market operations had led to lower liquidity in May. Yet overall liquidity in the system remains largely in excess, with average daily absorption under the Liquidity Adjustment Facility (LAF) moderating to Rs 5.5 lakh crore from May 4-31, from Rs 7.4 lakh crore from April 8 to May 3, in line with the housing phase-out policy. The pullback will also put upward pressure on interest rates.

Will consumer spending be impacted?

The withdrawal from politics and the rise in rates are expected to impact consumption and demand in the economy. The impact is likely to be most pronounced in non-discretionary consumer spending. “Recently released GDP data showed year-on-year growth in private consumer spending, indicating that economic activity remains sluggish,” said Indranil Pan, chief economist, Yes Bank.

The forecast of a normal monsoon is expected to boost kharif plantings and crop production, according to the RBI’s policy panel. This will support rural consumption. The rebound in contact-intensive services should support urban consumption. RBI surveys suggest further improvement in consumer confidence and household optimism for the one-year outlook.

“The RBI’s optimism on growth is important as the performance of the economy in the first two months has been quite impressive. Rising interest rates will help ensure that growth is not affected as inflation unchecked can affect consumer discretionary, which in turn will affect growth,” said Madan Sabnavis, Chief Economist, Bank of Baroda.

]]>
Apple is jumping on buy now, pay later with Apple Pay Later https://regiofora.com/apple-is-jumping-on-buy-now-pay-later-with-apple-pay-later/ Tue, 07 Jun 2022 07:27:51 +0000 https://regiofora.com/apple-is-jumping-on-buy-now-pay-later-with-apple-pay-later/ Apple has unveiled a new financial product that allows users to split the cost of an Apple Pay purchase into four equal payments over six weeks without paying interest or late fees. Apple Pay Later marks the iPhone maker’s entry into the growing buy it now, pay later (BNPL) industry. The feature is integrated into […]]]>

Apple has unveiled a new financial product that allows users to split the cost of an Apple Pay purchase into four equal payments over six weeks without paying interest or late fees.

Apple Pay Later marks the iPhone maker’s entry into the growing buy it now, pay later (BNPL) industry.

The feature is integrated into Apple Pay and comes with the next version of the iPhone operating system, iOS 16, which will be released later this year, the Cupertino-based company said in announcing a range of updates from products at the Worldwide Developers Conference event. In Monday.

For now, it looks like only iPhone and Mac users in the US will be able to use Apple Pay Later. It is still unclear whether it will be made available to Apple customers in the United Arab Emirates.

“Users can request Apple Pay Later when checking out with Apple Pay or in their wallet,” the tech company said.

“Apple Pay Later is available wherever Apple Pay is accepted online or in-app, using the Mastercard network.”

BNPL’s business model, which allows consumers to make purchases online and spread their repayments without interest, has become more popular since the start of the coronavirus pandemic.

The value of BNPL’s global transactions stood at $120 billion in 2021 and is expected to reach $576 billion by 2026, according to data analytics firm GlobalData.

BNPL accounted for 2.3% of the global e-commerce market. In other words, for every $100 spent, $2 went to a BNPL transaction, according to the report.

Millennials and Generation Z are the main demographic groups driving the adoption of the BNPL model, the research found.

“This rapid growth is due to an increasing number of merchants accepting these solutions. There have been huge partnerships with e-commerce giants such as Amazon and Shopify, opening up a whole new world of consumers,” said Chris Dinga, payments analyst at GlobalData.

The business model is booming, with Swedish Klarna, American Affirm and Australian Afterpay offering flexible financing to consumers, according to the Global Payments Report 2020 by the payment processor Worldpay Group.

Accenture estimates the number of BNPL users in the United States to be 45 million in 2021.

Apple Pay users can pay the first payment in advance and the other three every two weeks. Payments are handled in the Wallet app and users can prepay them if needed, the iPhone maker said.

Apple Pay Later requires no integration and works with a user’s Apple Pay, the company said. It does not require any additional work from the developer or the merchant side.

However, Apple hasn’t explained how payments through Apple Pay Later will work. Goldman Sachs will extend loans needed for installment offers, Bloomberg reported last year.

“Designed with users’ financial health in mind, Apple Pay Later makes it easy to view, track, and redeem Apple Pay Later payments in the Apple Wallet app on iOS,” Apple said.

Apple Pay users can use a dashboard to monitor payments in the company’s Wallet app, he said.

The company also unveiled Apple Pay Order Tracking, where users can receive itemized receipts and order tracking information in the Wallet app for Apple Pay purchases from participating merchants.

“The popularity of [BNPL] sector raises concerns among regulators. Since the publication of the Woolard report by the Financial Conduct Authority in 2021, the FCA has been trying to bring the UK BNPL sector under its supervision,” said Mr Dinga of GlobalData.

“In February 2022, the FCA was able to force Klarna, Clearpay, OpenPay and Laybuy to change their terms and conditions so that they are easier to understand.”

BNPL providers have come under fire for running misleading adverts that fail to mention the risk customers face if they don’t repay their loans on time – as well as the impact these loans can have on their credit scores , according to the GlobalData report.

“Due to the lack of transparency of BNPL loans, credit rating agencies … are unable to capture BNPL loans,” Mr Dinga said.

“This lack of reporting could lead to an inaccurate assessment of consumers’ creditworthiness and cause them to be over-leveraged on their loans. [as they can be approved for loans with several BNPL loan providers at the same time].”

Updated: June 07, 2022, 07:27

!function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod ? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.tail=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘797427810752825’); fbq(‘track’, ‘PageView’);

]]>
Increase in mortgage repayments https://regiofora.com/increase-in-mortgage-repayments/ Sun, 05 Jun 2022 16:00:00 +0000 https://regiofora.com/increase-in-mortgage-repayments/ With prices rising for everything from petrol to canned vegetables, and now interest rates rising, are homeowners in Western Australia ready for changing economic conditions? A Bankwest analysis of mortgage repayments found that increased savings and low interest rates throughout the COVID-19 pandemic have put homeowners in better financial shape than they were before the […]]]>

With prices rising for everything from petrol to canned vegetables, and now interest rates rising, are homeowners in Western Australia ready for changing economic conditions?

A Bankwest analysis of mortgage repayments found that increased savings and low interest rates throughout the COVID-19 pandemic have put homeowners in better financial shape than they were before the pandemic.

Bankwest looked at the position of home loan repayments over the past 22 months and, comparing the figures to 2019 levels, found that 90% of customers were ahead of their home loan repayments in March 2022.

Bankwest also found that the surge in home loan repayments was largely due to rapid adoption of home loan clearing accounts, which grew 63% from June 2019 to March 2022, nearly triple the growth rate. personal savings for the period.

Lucy Baker, an urban residential sales consultant at Realmark, said most households took advantage of strong economic conditions to pay off excess mortgages and were better positioned financially.

“A minority may have borrowed more money than they can afford in the long term or may not have emerged from the COVID-19 pandemic with increased savings – the virus has impacted each individual differently,” said she declared.

“There may be challenges ahead, but good job prospects here in the state are promising and should provide security for homeowners.”

Realestate 88 Inner City manager Brendon Habak said many homeowners and investors were ready for the rise in interest rates because they had saved well during the pandemic to counter expected rising costs.

“Low interest rates and repayment requirements, more savings placed in clearing accounts, fewer international holidays and strong weekly rental income mean that cash flow during the COVID-19 pandemic has been pretty good,” he said.

“The majority of WA homeowners have had good jobs during the COVID-19 pandemic, along with smaller mortgages than interstate homeowners.

“They are in a better position than they were pre-pandemic to weather a series of interest rate hikes.”

Ms Baker said buyers had not bought to their full capacity despite low interest rates bolstering their borrowing power.

“Bank valuation rates have a buffer of 2.5% above the market rate at a minimum, some banks are even valuing 3% higher,” she said.

“While homeowners enjoyed savings with record interest rates, banks factored in ease of maintenance beyond those rates, as did most homeowners.

“I don’t expect to see forced selling with these gradual rate hikes.”

With the cost of daily living and utilities rising, Mr. Habak said homeowners need to tackle their budgeting and savings goals.

“Simple changes in lifestyle choices can easily offset rising interest rates,” he said.

“Looking at your lender’s mortgage rate, your insurance premiums, your monthly subscriptions, as well as how often you eat out, etc., can lead homeowners to be in a similar net position or sometimes better.

“Budget monthly to see where your quick spending is happening. Small changes in your spending, as well as your savings goal, can make a huge difference.

Ms Baker said buyers and sellers should consider the impact rate hikes could have if they traded during this time.

“First of all, if you’re in the market and considering deals, checking the buyer’s finances is paramount,” she said.

“If the potential buyer of your property is pre-approved, consider when they were pre-approved and if their borrowing limits may have changed.

“This should continue to be a priority for sellers as rate hikes ramp up to normal levels to minimize the risk of deal failure, which could potentially hamper a seller’s sale outcome and he or she cost a lot of money.”

]]>
Apple moves some iPad production to Vietnam amid China lockdowns https://regiofora.com/apple-moves-some-ipad-production-to-vietnam-amid-china-lockdowns/ Thu, 02 Jun 2022 06:44:10 +0000 https://regiofora.com/apple-moves-some-ipad-production-to-vietnam-amid-china-lockdowns/ Taipei: In a first such move, Apple reportedly plans to shift some iPad production out of China to Vietnam amid Covid lockdowns in and around Shanghai, a media outlet reported on Wednesday. According to a report from Nikkei Asia, the iPhone maker has asked several component suppliers to stockpile to deal with future shortages and […]]]>

Taipei: In a first such move, Apple reportedly plans to shift some iPad production out of China to Vietnam amid Covid lockdowns in and around Shanghai, a media outlet reported on Wednesday.

According to a report from Nikkei Asia, the iPhone maker has asked several component suppliers to stockpile to deal with future shortages and supply chain issues.

“The iPad will become the second major line of Apple products manufactured in the Southeast Asian country, after the AirPods series of headphones,” the report said.

Apple shipped 58 million iPads last year.

China’s BYD, a leading iPad assembler, has helped Apple build production lines in Vietnam.

According to the report, it “could soon begin producing a small number of iconic tablets there.”

The Cupertino, Calif.-based tech giant also asked vendors to move quickly to secure the supply of certain chips for upcoming iPhones.

“The requests apply to all of Apple’s product lines – iPhones, iPads, AirPods and MacBooks,” the report said, citing sources.

Apple has yet to comment on the report.

Shanghai on Wednesday began reopening the city and restoring the normal order of production and life, on the premise of containing the overall risk of Covid-19.

According to reports, Shanghai has ended its two-month citywide lockdown, cautiously giving free rein to 2.67 million businesses to resume operations.

Apple CEO Tim Cook said on the company’s latest earnings call that “we estimated the strains to be between $4 billion and $8 billion and that strains are primarily centered around the Shanghai Corridor.” .

“Covid-related disruptions are also impacting customer demand in China,” added Apple CFO Luca Maestri.

More than half of Apple’s top 200 suppliers have facilities in Shanghai and surrounding areas. In Shanghai, 31 companies operate production facilities that supply Apple.

Disclaimer! Global Circulate is an automatic aggregator of all the media in the world. In each content, the hyperlink to the main source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the content owner and do not want us to publish your materials, please contact us by email – [email protected]. Content will be deleted within 24 hours.
]]>
‘I would have gone elsewhere’ – Alexandre Pato’s honest assessment of Chelsea’s fate https://regiofora.com/i-would-have-gone-elsewhere-alexandre-patos-honest-assessment-of-chelseas-fate/ Tue, 31 May 2022 15:30:00 +0000 https://regiofora.com/i-would-have-gone-elsewhere-alexandre-patos-honest-assessment-of-chelseas-fate/ Former Chelsea striker Alexandre Pato has provided an honest assessment of his time at Stamford Bridge, admitting he ‘would have gone elsewhere’ had he known his six-month loan would not be turned into a permanent transfer . The striker joined the Blues in January 2016 but only made a handful of appearances for Chelsea during […]]]>

Former Chelsea striker Alexandre Pato has provided an honest assessment of his time at Stamford Bridge, admitting he ‘would have gone elsewhere’ had he known his six-month loan would not be turned into a permanent transfer .

The striker joined the Blues in January 2016 but only made a handful of appearances for Chelsea during an unsuccessful spell.

Speaking to the Players’ Tribune, Pato gave an honest verdict on his time at Chelsea.

]]>
NBFIs are requested to properly preserve loan and investment documents https://regiofora.com/nbfis-are-requested-to-properly-preserve-loan-and-investment-documents/ Sun, 29 May 2022 13:55:00 +0000 https://regiofora.com/nbfis-are-requested-to-properly-preserve-loan-and-investment-documents/ TBS Report May 29, 2022, 7:55 PM Last modification: May 29, 2022, 8:16 PM Bangladesh Bank file photo: Salahuddin Ahmed/TBS “> Bangladesh Bank file photo: Salahuddin Ahmed/TBS According to a Bangladesh Bank circular, Non-Banking Financial Institutions (NBFIs) have been advised to properly retain loan, lease or investment documents as some recent investigations of financial irregularities […]]]>

TBS Report

May 29, 2022, 7:55 PM

Last modification: May 29, 2022, 8:16 PM

Bangladesh Bank file photo: Salahuddin Ahmed/TBS

“>

Bangladesh Bank file photo: Salahuddin Ahmed/TBS

According to a Bangladesh Bank circular, Non-Banking Financial Institutions (NBFIs) have been advised to properly retain loan, lease or investment documents as some recent investigations of financial irregularities revealed that the documents were missing.

As some financial institutions do not keep records properly, many problems have arisen in taking legal action for loan recovery and investigating loan and investment anomalies, the circular says. published on Sunday.

However, a central bank source said the central bank gave the instruction not to obtain loan documents when investigating the Bangladesh Industrial Finance Company (BIFC).

The authorities assume that other NBFIs could also have disappeared by lending their documents which are proof of their financial misdeeds, said a senior official of Bangladesh Bank, adding that the circular aims to bring discipline in the non-financial sector. banking.

The circular says that a copy of the memorandum presented before the board meeting – which contains loan, lease and investment details, loan appraisal reports, approval, renewal, rescheduling or restructuring and delisting – must be kept with a copy with the decisions of the meeting. . But if the loan or investment is more than Tk 50 crore, the documents will need to be stored at an alternative branch or at the head office.

The central bank said the documents can also be stored digitally after ensuring cybersecurity and regularly updating the database. In addition, each institution will have to form a cybersecurity management team to regularly report to the board on the overall status of ICT security and system backup.

In addition to this, the central bank said that the ledger must be updated at the end of each working day and the backup of the database must be stored properly.

According to the central bank, a report on the retention of the document must be submitted to the managing director of the institution after conducting an internal inspection once every three months.

If any irregularity is found during the internal inspection, the Managing Director informs the Bangladesh Bank within seven working days of submission of the report.

Another senior Bangladesh Bank official told The Business Standard that many NBFI managing directors often claim that their previous senior officials did not properly keep records.

“Due to the unavailability of data, we are not getting a full picture on the institutions. We believe that their missing document claim is aimed at concealing loan and investment data. The new circular will deter them from doing such apologies,” the official added.

]]>