The interest rate rigging scandal has claimed its first scalp among the senior management of Barclays with the bank’s Chairman set to announce his resignation today.
The interest rate rigging scandal has claimed its first scalp among the senior management of Barclays with the bank’s Chairman set to announce his resignation today.
JUST like every other family, the G20 has its tiffs.
WIZARA ya Fedha imesema, Serikali ina lengo la kupunguza misamaha ya kodi ili isizidi asilimia moja ya pato la taifa.
Naibu Waziri wa Fedha, Saada Mkuya Salum ameliambia Bunge mjini Dodoma kuwa, Serikali inaendelea kupitia baadhi ya sheria za misamaha ya kodi ili kuangalia kama bado zina manufaa kwa umma.
Amesema, ili kutimiza azma hiyo, Mamlaka ya Mapato (TRA) kupitia mfuko wa dhamana wa ushauri wa sera na usimamizi wa kodi ulioanzishwa na Shirika la Fedha la Kimataifa (IMF) inafanya uchambuzi wa kina wa kuangalia sheria na kanuni za misamaha ya kodi.
Kwa mujibu wa kiongozi huyo wa Serikali, uchambuzi huo utaleta mapendekezo ya kuiondoa misamaha yote isiyo na maslahi na tija kwa taifa.
Salum amesema, mwaka ujao wa fedha, Serikali imechukua hatua za kurekebisha sheria mbalimbali za kodi kwa nia ya kupunguza misamaha na kuzuia mianya ya ukwepaji kodi.
Alikuwa akijibu swali la Mbunge wa Viti Maalumu Amina Abdulla Amour (CUF) aliyetaka kufahamu ni lini Serikali itapunguza misamaha yakodi hadi kufikia chini ya asilimia moja ya pato la taifa kutokana na kuwa kero kwa muda mrefu kwa taifa kukosa fedha na mapato kwa ajili ya maendeleo.
“Sisi pale wizarani tumeamua kulivalia njuga suala hili, tutaifanya kazi hiyo na tunaomba tupewe muda kwani jambo hili haliwezi kufanyika kwa mara moja,” alisema.
Wakati huo huo, Salum alisema Benki ya Wanawake inaweza kushiriki katika mpango wa kukopesha na kusimamia fedha za mabilioni ya Rais endapo inahitaji kufanya hivyo na taasisi zingine za fedha ambazo zimekidhi vigezo vilivyowekwa.
Alitaja vigezo hivyo kuwa ni pamoja na uwezo wa kuhudumia vijijini, kuwa na mizani nzuri za hesabu na uzoefu katika kuhudumia wajasiriamali wadogo.
Alisisitiza kuwa walengwa wa mfuko wa mabilioni ya Rais ni vijana, wazee, wanawake vijijini na mijini ambao wanafanya shughuli katika kuhudumia wajasiriamali wadogo.
Alikuwa akijibu swali la Mbunge wa Viti Maalumu Faida Mohamed Bakar (CUF) ambaye alihoji kama Serikali inakubaliana naye kwamba sasa ni wakati muafaka wa kuhamisha fedha za mkopo wa mabilioni ya Kikwete na kutumika katika Benki ya Wanawake ili wananchi wapate mikopo.
Wakati huohuo, Kamati ya Kudumu ya Bunge ya Fedha na Uchumi, imeafiki maeneo mengi ya kodi na tozo mbalimbali yaliyopendekezwa na Serikali kufanyiwa marekebisho, lakini ikasisitiza umuhimu wa nidhamu ya matumizi ya Serikali na uwezo wa kuongeza mapato.
Mbali na hayo, Kamati hiyo ilieleza kutoridhishwa na Serikali katika kasi ya kushughulikia misamaha ya kodi.
“Kamati inaishauri Serikali kuonesha dhamira ya kweli kufanikisha lengo hilo (la kuimarisha taratibu za kukusanya mapato pamoja na kupunguza misamaha ya kodi) na kutoa taarifa ya utekelezaji mbele ya Kamati Januari 2013,” amesema Mwenyekiti wa Kamati hiyo, Andrew Chenge.
Chenge alikuwa anawasilisha taarifa ya Kamati yake kuhusu hali ya uchumi wa Taifa kwa mwaka 2011 na Mpango wa Maendeleo wa Taifa kwa mwaka 2012/13 pamoja na tathimini ya utekelezaji wa Bajeti ya Serikali kwa mwaka 2011/12 na mapendekezo ya mapato na matumizi ya Serikali kwa 2012/13.
“Kamati inaendelea kushauri kwamba Serikali iachane na mtindo wa kuibua matumizi mapya yasiyo ya dharura ambayo hayakuidhinishwa na Bunge wakati wa utekelezaji wa bajeti”
“Mtindo huo unavuruga bajeti na kupunguza uwezo wa kutoa fedha za matumizi mengineyo (OC) na matumizi ya maendeleo kama ilivyokusudiwa. Kamati inasisitiza umuhimu wa Serikali kubana matumizi kwa kupunguza matumizi yasiyo ya lazima,” amesema Chenge.
What is an economic recovery?
An economic recovery is a period of increasing business activity signaling the end of a recession. Much like a recession, an economic recovery is not always easy to recognize until at least several months after it has begun. Economists use a variety of indicators, including GDP, inflation, financial markets and unemployment to analyze the state of the economy and determine whether a recovery is in progress.
The general thinking is that recessions are bad for business. However, some of businessess do quite well during downturns and would actually prefer that the economy struggle a bit. On the flip side, they tend to be negatively affected when the economy starts to recover. The following 5 industries fall into this category.
1. Discount Stores:
These are department stores which offers its items at a lower price than many other retail stores. Economic downturns necessitate belt-tightening on the part of consumers. In a falling economy, high-end fashion, automobiles, and homes see a plummet in demand as individuals focus on all but the most core necessities. Discount stores, like Mr.Price, tend to see a corresponding boost in demand during these downturns and do well in difficult economic climates. On the flip side, these businesses see their popularity wane when the business cycle improves and consumers become less concerned about losing their jobs. When the economy recover consumers will go to high-end stores and most expensive cars etc.
Job losses during recessions leave those unfortunate enough to be handed a job termination lettesr with free time. Many use their time constructively and return to school to either learn a new job skill or add a degree that will make them more desirable to current employers, or in preparation for when the employment market picks up. One study by the Pew Research Center detailed that community colleges experienced record enrollment trends during the credit crisis. It specifically cited individuals in the auto industry returning to school. The center even mentioned a drop in high school dropouts, which makes sense as there is less opportunity to find a job instead of going to class. In an upturn, these trends reverse as earning a paycheck becomes more possible and makes education look less appealing in comparison. In Tanzania this could apply more to colleges that offers cheap short courses; for high fee institutions ca not be affordable for a person that looses a job.
3. Grocery Stores
In similar fashion to the alcohol-related firms, consumers tend to eat at home more often in a down economy. The recession crisis saw the restaurant industry suffer mightily as a result of this phenomenon. This trend favored food retailers. In an economic recovery, their growth tends to slow because of less traffic in the grocery aisles.
The spirits and alcohol space is unique in that it can benefit in both good and bad times. As with retail, the higher end of the market does well in an upswing as consumers have more discretionary money to throw around and try a more expensive bottle of wine or whiskey. A shift also occurs as people dine out less, meaning they buy more alcohol for drinking at home, as opposed to at a restaurant. But overall, people are just as likely to drink and drown their sorrows in an economic downturn. As you might expect, people trade down to cheaper brands during a recession.
5. Pawn Shops
Pawn shops euphemistically refer to themselves as “specialty consumer financial services” firms and tend to do well when people need money. Labor-intensive jobs, such as those in the manufacturing and homebuilding industries, are very economically sensitive and lay off workers in downturns. Part of this work demographic doesn’t qualify for traditional credit offered by banks and credit card companies and means they sometimes have to rely on pawn shops, which offer high-interest loans and take personal property as collateral.
The Bottom Line For the most part, the above industries do less well during economic recoveries. Overall, these spaces would prefer a downturn and the chance to profit from a gloomier business climate.
Hello MonFinance readers, i hope you had a wonderful weekend. Today i am going to give you a tip on getting paid what your job worth; and how to ask for a raise if you feel underpaid .
It sounds simple, but many people struggle with this basic rule; getting paid what you’re worth and of course spend less than you earn .
Whether you are employed or self-employed, Make sure you know what your job is worth in the marketplace, by conducting an evaluation of your skills, productivity, job tasks, contribution to the company, and the going rate, both inside and outside the company, for what you do. Being underpaid even one hundred thousand shillings a month can have a significant cumulative effect over the course of your working life.
After reading this and you feel underpaid; then you have to ask for a raise in a professional way.
How do you ask for a Raise?
Many employees make the mistake of asking for a raise because they need more money, can’t pay their bills, etc. Your personal budgeting and financial problems are not your company’s problem. Need has nothing to do with it, so it’s best not to talk about need when asking for a raise.
Base your request on your evaluation of your skills, productivity, job tasks, your contribution to the company, and the going rate, both inside and outside the company, for what you do. Look at the entire situation from your company’s perspective, and base your approach on THEIR needs, and on what YOU can do for THEM.
However, no matter how much or how little you’re paid, you’ll never get ahead if you spend more than you earn. this is when the Budget Tip apply. Often it’s easier to spend less than it is to earn more, and a little cost-cutting effort in a number of areas can result in big savings. It doesn’t always have to involve making big sacrifices.
Melinda Emerson, known as “SmallBizLady,” is one of America’s leading small business experts. She is a seasoned entrepreneur, professional speaker, social media strategist and small business coach and the Start-Up columnist for Small Business Trends. Melinda is Forbes #1 Influential Woman for Entrepreneurs and ofcourse an Author of the Bestselling book ‘Become your own Boss in 12 Months’ I love this woman, i am following her on almost ALL social ,edia platforms, twitter,facebook,wordpress,Blogger you name it! I keep asking myself.. I need to meet this woman and a learn a thing or two from her. Seriously.
About the Book
This book will inspire and guide you stage by stage if you are planning to start your business. You need to read this book before you go out and make any major moves. You’ll find it easy to read, well organized, and chock-full of useful information to get your started. What I really liked was that it’s not your typical business planning book as Melinda cares for your total entrepreneurial success – not just your business plan. She also gives advice on maximizing social media for your business and even touches on e-commerce as well. I highly recommend it for any aspiring entrepreneurs out there.
I short this book is;
For more articles from Melinda, visit her blog http://www.succeedasyourownboss.com
Have a Blessed Weekend. Catch me up on #MonFinanceBlog facebook page.
For you to be financially health, build yourself a solid budget and stick to it.
This is just good sense for absolutely everyone – Men,Women, single, married or divorced..Employed or student, Everyone.
Examine your monthly expenses, remembering to include everything from housing costs, utilities, groceries, car payments, gasoline, insurance and esthetics. Do the same for your income. Subtract your expenses from your income, and see what you’ve got leftover. You can divide the remainder up based on what you’d like to save and what you’d like to budget toward discretionary spending. Don’t forget to factor in money towards repayment of credit card debt, student loans or any other debts you may have. You’ll want to get debts paid off as quickly as you can in order to save yourself those pesky interest costs. You should also examine methods for reducing costs, like eating meals at home or reducing the amount you spend on entertainment expenses.
Most people think Stocks investments is just eating a piece of cake. You do not have to be there physically to control your investments, you just browse daily or weekly on Dar es Salaam Stock Exchange site and manage your portfolio and your money multiplies.
Sounds so much Easier. In the days of dotcom mania, investors could throw money into an IPO and be almost guaranteed killer returns. Numerous companies, experienced huge first-day gains, but ended up disappointing investors in the long-term. People who had the foresight to get in, and out, on some of these companies, made investing look way too easy.
However, no investment is a sure thing. Investors could no longer expect the double and triple-digit gains they got in the early tech IPO days simply by flipping stocks. There is still money to be made in IPOs, but the focus has shifted from the quick buck to the long-term outlook. Rather than trying to capitalize on a stock’s initial bounce, investors are more inclined to carefully scrutinize long-term prospects.
IPOs can be a risky investment. For the individual investor, it is tough to predict what the stock will do on its initial day of trading and in the near future because there is often little historical data with which to analyze the company. Also, most IPOs are of companies going through a transitory growth period, which are subject to additional uncertainty regarding their future values.
WHAT IS AN IPO?
‘An IPO is The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the capital to expand, but can also be done by large privately owned companies looking to become publicly traded.’
Even if you have a longer-term focus, finding a good IPO is difficult. IPOs have many unique risks that make them different from the average stock which has been trading for a while. If you do decide to take a chance on an IPO, here are five points to keep in mind:
1. Objective research is a scarce commodity
Getting information on companies set to go public is tough. Unlike most publicly traded companies, private companies do not have swarms of analysts covering them, attempting to uncover possible cracks in their corporate armor. Remember that although most companies try to fully disclose all information in their prospectus it is still written by them and not by an unbiased third-party.
Search the Internet for information on the company and its competitors, financing, past press releases, as well as overall industry health. Even though info may be scarce, learning as much as you can about the company is a crucial step in making a wise investment. On the other hand, your research may lead to the discovery that a company’s prospects are being overblown and that not acting on the investment opportunity is the best idea.
2. Pick a company with strong brokers
Try to select a company that has a strong underwriter. I am not saying that the big investment banks never bring duds public, but in general, quality brokerages bring quality companies public. Exercise more caution when selecting smaller brokerages, because they may be willing to underwrite any company. However, one positive of smaller brokers is that, because of their smaller client base, they make it easier for the individual investor to purchase pre-IPO shares. Be aware that most large brokerage firms will not allow your first investment to be an IPO. The only individual investors who get in on IPOs are long-standing, established (and often high-net-worth) customers. Of course in our country most of the brokerage firms aims at SELLING instead of ADVISING an investor.
3. Always read the prospectus
I have told you not to put all your faith in it, but you should never skip reading the prospectus. It may be a dry read, but the prospectus lays out the company’s risks and opportunities, along with the proposed uses for the money raised by the IPO.
For example, if the money is going to repay loans, or buy the equity from founders or private investors, then look out! It is a bad sign if the company cannot afford to repay its loans without issuing stock. Money that is going towards research, marketing or expanding into new markets paints a better picture. Most companies have learned that over-promising and under-delivering are mistakes often made by those vying for marketplace success. Therefore, one of the biggest things to be on the lookout for while reading a prospectus is an overly optimistic future earnings outlook; this means reading the projected accounting figures carefully.
You can always request the prospectus from the broker bringing the company public. Get a professional to help you understand the prospectus because not anyone can read and understand the accounting information and statements disclosed in a prospectus.
4. Be cautious
Skepticism is a positive attribute to cultivate in the IPO market. As i mentioned earlier, there is always a lot of uncertainty surrounding IPOs, mainly because of the lack of available information. Therefore, you should always approach an IPO with caution.
If your broker recommends an IPO, you should exercise increased caution. This is a clear indication that most institutions and money managers have graciously passed on the underwriter’s attempts to sell them stock. In this situation, individual investors are likely getting the bottom feed, the leftovers that the “big money” didn’t want. If your broker is strongly pitching shares, there is probably a reason behind the high number of these available stocks. This brings up an important point: even if you find a company going public that you deem to be a worthwhile investment, it’s possible you won’t be able to get shares. Brokers have a habit of saving their IPO allocations for favored clients, so unless you are a high roller, chances are good that you won’t be able to get in.
5. Consider waiting for the lock-up period to end
The lock-up period is a legally binding contract (Mostly 3 to 24 months) between the underwriters and insiders of the company prohibiting them from selling any shares of stock for a specified period.
The point here is that waiting until insiders are free to sell their shares is not a bad strategy, because if they continue to hold stock once the lock-up period has expired, it may be an indication that the company has a bright and sustainable future. During the lock-up period, there is no way to tell whether insiders would in fact be happy to take the spot price of the stock or not.
Let the market take its course before you take the plunge. A good company is still going to be a good company, and a worthy investment, even after the lock-up period expires.
The Bottom Line
By no means I am suggesting that all IPOs should be avoided: some investors who have bought stock at the IPO price have been rewarded handsomely by the companies in question. Every month successful companies go public, but it is difficult to sift through the riffraff and find the investments with the most potential. Just keep in mind that when it comes to dealing with the IPO market, a skeptical and informed investor is likely to perform much better than one who is not.
Happy reading and Go beat the Market!
It was great honor to be invited at TWAA Breakfast meeting to celebrate women’s day. The event was very informative and educative. I met amazing Tanzania Women whom I have been looking up to all the time, Dr. Marina Njelekela, Sauda Simba Kilumanga, The Haki Elimu Executive Director Ms.Elizabeth Missokia, what a lady! And many more adorable women.
It was the best way to start my day and the year ahead!
The event took off by a moving speech from Irene Kiwia; Irene is the Managing director of Frontline Porter Novelli and TWAA Founder and President, in her speech Irene talked about the major enemies to women, I quote “On this day, all over the world, we consider both the steps forward towards better lives for women that have been taken in recent times, as well as the progress still required. Today I don’t want to talk about our women empowerment initiatives, TWAA, the Mentorship program and so many others! I want to talk about something even more serious… OUR ENEMIES! We spend time naming our enemies: patriarchal structures, discriminative legislative and political decisions, uncaring corporate entities, criminal menaces, culture-based ignorance and economic hardships! They all are significant things, and I am not suggesting that they are not… they are extremely significant! But I have felt for a long time now that something else is at the heart of female disempowerment. Something that isn’t as easy to deconstruct or dismantle. Something that is difficult to even name, and at times feels overwhelming to even think about! I have had conversations about this several times and most seemed to agree with me that our biggest enemy, our worst evil ugly enemy is none other than US! Yes us women! When we don’t support one another, when we are jealous of one another, when we sabotage one another, when we judge and condemn one another, when we feel that other women are undeserving of success, when we bully, back stab, gossip, rating each other as low…. I can go on till tomorrow morning on the many different when’s”
Another person who presented during the event is Ms. Modesta Mahiga, Professional Approach Group MD whose presentation was based on this year’s international theme; “Connecting Girls: Inspiring Futures”
Another inspiring speech was from Dr. Njelekela who is the current Tanzanian Women of Achievement Awards Gender Champion, the Executive Director of Muhimbili National Hospital, a former MEWATA Chairperson and a past recipient of the prestigious Martin Luther King Drum Major Award for Justice. She seized the opportunity to launch a girls empowerment initiative titled “Kinara ni Mimi Jasiri” where she will work with young girls in Lindi, Mtwara and Iringa who are facing challenges to overcome early pregnancies, early marriages, school dropouts, STD’s and HIV/AIDS infections. The project will focus on creating awareness, sensitizing the communities and creating a peer system that will empower girls with skills and knowledge needed to overcome these challenges and lead productive, educative and healthy lives.
After the speeches a lady called Jessica entertained us with her soulful voice, she sang the songs like I believe I can fly, Hero etc. beautiful voice.
To read more about the event, you can visit Frontline Porter Novelli Blog.
I did learn a lot from the meeting, entertained by Jessica’s beautiful voice and enjoyed the breakfast.
I say “Girl power” Truly great people usually don’t feel important; they make others feel important, Love each other, help a fellow woman, Empower a girl-child.
Welcome to MonFinance Blog.
The idea of blogging about Money and Finance emanated from my passion for Social Media and a little knowledge I have in Finance Budgeting and Accounting.
I always give advice to my friends on Employment Taxes,social security contributions,corporate taxes and investment ideas.I need to share my little knowledge to you all and gain more from you readers.
My blog is about our everyday activities in Finance,accounting,economics- Theoretical and Practical.(I call it Our daily Maths)
And a little bit of fun..so if you have any question,comment, and or Ideas useful to this blog please share it with us.
This is a bilingual blog,so feel free to use English as well as Swahili in your contributions.
This is the beginning..Let’s walk through this together.
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