Author: shyam

Bhushan Steel plant scrapped

Location of the Bellary district with respect ...

Image via Wikipedia

The state wildlife board has decided to scrap the Rs 27,000 crore integrated steel plant of 6 million TPA (tonnes per annum) capacity proposed to come up in Bellary district adjoining the Daroji Bear Sanctuary.

After many deliberations and field visits, the state wildlife board and forest officials found that the site location was within the proposed eco-sensitive zone of the bear sanctuary.

The proceedings of the fourth meeting of the state wildlife board conducted by former CM B S Yeddyurappa on July 26 quoted the issues as: “Some part of the proposed areas include reserved forests, deemed forests and fall within the proposed eco-sensitive zone of Daroji Wildlife Sanctuary.

Within a 10 km radius of the proposed site, are forests like Joga and Billakallu, Donimalai and Torangallu reserve forests.

Source

Related articles
Enhanced by Zemanta
Categories Tags ,

Europe to discuss crisis as fear grips

Stamp from Deutsche Post AG from 1998, formati...

Image via Wikipedia

Leaders from European powerhouses Germany and France will hold talks on Friday after a global market rout signalled fear Europe’s debt crisis is spinning out of control and a U.S. recovery is stalling.

In Japan, Finance Minister Yoshihiko Noda said global policymakers needed to confront currency distortions, the debt crises and concerns about the U.S. economy.

Japan and Switzerland are trying to reduce the allure of their markets as safe havens and after gold has more than doubled in price since the global financial crisis, many investors are having second thoughts about seeking refuge in the precious metal.

Investors slashed positions after the European Central Bank failed to include Italy and Spain in a fresh round of bond buying, even though yields on their debt shot above 6%, the highest level since the euro was launched over a decade ago.

Source

Related articles
Enhanced by Zemanta
Categories Tags

DLF continues to be in a quagmire

Residential sales volume was up about 15%, about two-fifths of which came from plotted land sales, which has a shorter sales cycle. Thanks to this, DLF’s revenue grew 21% over a year ago.

Operating margins contracted by about 290 basis points from a year back.

Analysts’ presentation paints a rather grim picture, indicating fewer residential launches and lower commercial leasing volumes compared with previous quarters.

DLF continues to be in a quagmire – livemint.com.

Categories Tags ,

The trouble with Quants

During the week of August 6, 2007, many large and previously successful hedge funds were forced to de-lever their portfolios and liquidate commonly held securities, resulting in simultaneous drawdowns of 30%, 50%, or worse.

After all, the quant funds of 2007 shared the same structural flaws as the highly engineered financial trading strategies that caused the stock market crash in 1987 and the implosion of Long-Term Capital Management in 1998.

At first, the identified predictability in security price movements is reinforced as funds using the quant model, along with similar funds using similar models, begin buying and selling the same securities.

To facilitate the use of leverage, risk models were used to minimize country, sector, and other common factor risks.

Read more here: http://researchaffiliates.com/ideas/pdf/fundamentals/Fundamentals_Aug_2011_The_Trouble_With_Quants.pdf

 

 

Categories Tags

Debt relief replaced with recession fear

In a matter of days, investor relief that the United States avoided default has been replaced by fears Europe’s debt crisis is deepening and the world’s biggest economy may be slipping back into recession.

“The odds of the economy going back into recession are at least one in three if nothing new is done to raise demand and spur growth,” Summers said of the United States in his column.

The bellwether S&P 500 index dropped more than 2.5% on Tuesday to wipe out 2011 gains after data showed U.S. consumer spending fell in June for the first time in nearly two years.

Insight: Debt relief replaced with recession fear | Reuters.

Categories Tags