Word: fiscal
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...Budget Under Control In mid-September, the DPJ will take over officially, with the Diet's election of Hatoyama as Prime Minister and the appointment of ministers. That leaves 100 days for the new administration to draft a budget for the next fiscal year that doesn't increase the national deficit - now at 180% of GDP, the highest ratio among developed countries - but still provides funds for costly election-year promises. The deadline is all the more pressing because Japan's still anemic economic recovery could falter without the steady infusion of government spending...
...French President's radical plan to impose a carbon tax on homes and businesses, he said on a factory visit in eastern France, addresses the "question of survival of the human race." Slated for introduction next year, the levy marked the "first step," Sarkozy said, in "a fiscal revolution...
...That means other member states are likely to follow France's lead and embrace a new tax, Egenhofer says. Sweden, current holder of the E.U.'s rotating presidency, wants to see the tax policy expanded across the region. With voters everywhere bracing for fiscal belt-tightening, this just might be the best time to push a new tax through. - With reporting by Bryan Walsh / New York
Yale’s endowment fell $1 billion more than expected to $16 billion in the fiscal year ending June 30, marking a 30 percent decline in value, Yale University President Richard C. Levin announced yesterday. In an e-mail to faculty, staff, and alumni, Levin wrote that previous projections of a 25 percent endowment drop had not accounted for the continued slide in private equity and real estate holdings even after stock markets began to rebound this spring. The unexpected additional fall in the endowment will lead to a 6.7 percent decrease in endowment payout this year and another...
...good part of this liquidity is coming from foreign institutional investors that are keen to diversify into a fast-growing economy that still has relatively few big listed companies. With a healthy GDP growth rate of 6.7% in the last fiscal year, India remains an attractive destination for investment capital that was sidelined by the recession. Bankers are hoping the market will get a boost later this year from the anticipated IPOs of companies such as cable-TV service provider Digital Entertainment Network, which has exposure to increasingly wealthy Indian consumers. "We're waiting for consumption-oriented companies to list...