Wednesday, November 9, 2011

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New York Times Upfront: Issues from 2011

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    Estimated budget at Rs3.8trn: the government has finalised a consolidated budget of Rs3.854 trillion for the next financial year, envisaging a revenue of Rs2.787 trillion, fiscal deficit of Rs912 billion and provincial transfers of Rsl.224 trillion


    The budgetary allocations indicate that current expenditures of most of the federal ministries will be frozen at the level of the current year because of tight fiscal position.
    Official documents available with Dawn show the government has set a tax revenue target of Rs2.1 trillion, 2.3 per cent above the current year's revised target of Rs1.71 trillion. This includes a Rs1.952 trillion tax target of theFederal Board of Revenue (FBR) against current year's revised estimate of Rs1.588 trillion. The non-tax revenue is estimated at Rs687 billion, up 30 per cent from this year's revised estimate of Rs526 billion.
    Of the total revenue of Rs2.787 trillion, the provinces would get Rs1.224 trillion and Rs1.513 trillion would be for the federal government.
    The government had set a revenue target of Rs2.410 trillion for the current year, but it has now been revised to Rs2.235 trillion, because of a shortfall in FBR collection, non-introduction of RGST and slow economic growth.
    The centre's total expenditure has been estimated at Rs2.549 trillion, up from current year's revised estimate of Rs2.314 trillion. The centre would extend Rs55 billion subsidies to the provinces.
    The size of the federal Public Sector Development Programme has been estimated at Rs280 billion against current year's original estimate of Rs270 billion which was brought down to Rsl80 billion.
    Another Rs35 billion would be spent for flood relief assistance, slightly less than current year's Rs40 billion.
    Pensions would require Rsll8 billion against Rsl07 billion this year. Likewise, federal government's service delivery cost has been estimated at Rs200 billion, which is about Rs20 billion more than current year's revised estimate of Rs180 billion - brought down from budgeted Rs221 billion.
    SECURITY AND INTEREST: The government would earmark Rs495 billion for defence, about 12 per cent more than current year's allocation of Rs442 billion. Another Rs340 billion would be made available through grants for security expenditure, up 19.3 per cent from current year's Rs285 billion. Put together, security-related expenditures would amount to Rs835 billion against this year's Rs727 billion, up by 15 per cent.
    An almost equally a large amount of Rs786 billion would be paid as interest cost, which is about Rs60 billion or 8.3 per cent more than current year's revised debt servicing of Rs726 billion. The government had earmarked Rs699 billion in the 2010-11 budget for debt servicing which has been revised to Rs726 billion.
    About Rs50 billion would be allocated for the ministry of interior, up from current year's Rs44 billion.
    BUDGET DEFICIT: The federal government's fiscal deficit has been estimated at Rs1.036 trillion that is expected to be reduced to Rs912 billion because of a Rs124 billion cash surplus to be provided by the provincial governments. For the current year, the government had envisaged an overall deficit of Rs685 billion (4.5 per cent of GDP) that has now been revised to Rs960 billion or 5.5 per cent of GDP. The provinces were expected to generate a cash surplus of Rs167 billion but it was revised to Rsll2 billion.
    The budget deficit would be met through Rs95 billion worth of grants, net domestic bank borrowing of Rs807 billion and net external borrowing of Rs10 billion.
    PROVINCIAL FINANCES: The provinces would get Rs1.224 trillion, up 23 per cent from the revised estimate of Rs993 billion during the current year. At the time of budget announcement last year, the centre had promised net transfers of Rs1.034 trillion to the provinces, which has been revised to Rs993 billion, a reduction of about Rs40 billion.
    The provincial governments are expected to generate a tax revenue of Rs78 billion next year, slightly higher than current year's revised estimate of Rs67 billion. Provincial non-tax revenue is expected at Rs69 billion against Rs66 billion revised estimate of this year.
    The total expenditure of the provinces has been estimated at Rs1.305 trillion against current year's estimate of Rs1.056 trillion.
    FEDERAL MINISTRIES: A total of 17 ministries have been devolved to the provinces and, therefore, there would be no allocation for them for current expenditure in the budget. The remaining 31 ministries have been given the ceiling of about Rs155 billion for their current expenditure.
    Some of the key ministries that have been given major allocations include the interior ministry, Rs50 billion; cabinet division, Rs5 billion; establishment division, Rsl.4 billion; commerce, Rs4.8 billion; defence ministry, Rs6.8 billion; finance and revenue, Rs22 billion; foreign affairs, Rsl2 billion; housing and works, Rs2.4 billion; Kashmir and Gilgit-Baltistan, Rs8 billion; and States and Frontier Regions along with Fata, Rs16 billion.
    COPYRIGHT 2011 Economic and Industrial Publications
    COPYRIGHT 2011 Gale, Cengage Learning


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    Do you know this?


    Boost customers can now hook into world's largest private-label mobile community
    A new friend, maybe even a date, could be in the palm of your hand. Boost Mobile(R), a lifestyle-based telecommunications brand that develops and distributes wireless communications products for the youth market, and AirG, the global leader in powering mobile communities, announced the launch of Boost HOOKT--a private--labeled mobile community. With Boost HOOKT, Boost customers are able to hook into an interactive, geographically localized and interest-categorized mobile community that communicates across multiple wireless platforms and incorporates multiple unique features, including e-mail, IM, picture profiles, presence, and public and private messaging lounges.
    "With the addition of Boost HOOKT, our customers now have instant access to a global community filled with individuals from more than 30 countries with similar interests and hobbies.
    They can hook up with some of the most fascinating people from across the USA and around the world in an interactive and network-aware messaging environment--all through their Boost Mobile phone," said Craig Thole, director of Value Added Services, Boost Mobile. "AirG is one of the strongest publishers of mobile community products, and we are excited to continue our successful partnership with them in bringing some of the best multiplayer mobile applications to our customers."
    AirG will provide an end-to-end community solution for Boost HOOKT that encompasses all application elements across multiple wireless platforms, and also provide all back-end billing integrations, reporting, 24x7x365 customer support and monitoring, turnkey promotions and contests, and a direct connection into its established network of 5 million users across 86 mobile operators globally.
    "We are extremely pleased to be building on over three years of partnership success with Boost Mobile with the launch of the Boost HOOKT mobile community.
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    Monday, October 31, 2011

    ඕනෑම හුවාවි Huawei HSDPA USB මොඩමයක් නොමිලේම Unlock කරගන්නේ මෙහෙමයි

    මොඩෙම් lock/unlock කිරීම ලංකාවේ නීති විරෝදී දෙයක් නෙවෙයි. ඒත් එමගින් තමන්ගේ සේවාදායකයා සමග ඇති සෙවා ගිවිසුම අවලංගු වෙන්න පුලුවන්. ඒක නිසා මේක කරන්න කලින් ඒ ගැන සැලකිලිමත් වෙන්න.
    මේ කියන ක්‍රමය Huawei USB 3G/HSDPA මොඩෙම් ඕනෙම මාදිලියකට වලංගුයි.

    මොඩෙම් එකක් unlock කරගන්න මුලින්ම ඔන වෙන්නෙ අදාල කේත අංකයයි (unlock code). හුවාවි මොඩෙම් සදහා මේ කේත අංකය පදනම් වෙලා තියෙන්නෙ මොඩෙම් එකේ IMEI නොම්බරය මතයි. ඒක නිසා මුලින්ම මොඩෙම් එකෙ IMEI අංකය හොයගන්න. මේක ඉලක්කම් 15 ක නොම්බරයක්. මේක මොඩමෙයෙම හෝ ඇසිරුමෙ සදහන් කරලා තියෙනවා. නැත්නම් Mobile partner එකෙ Tools -> Diagnostic යටතේ බලාගන්න.






    මෙ අංකය 354300020014078 යයි සිතමු. දැන් අදාල unlock කෙතය සොයගමු. මේකට කරන්න තියෙන්නෙ IE, Firefox වගේ ඕනම browser එකක් ඇරලා address එක වශයෙන්
    http://bb5.at/huawei.php?imei=###############
    ලබ දෙන එකයි. මේ address එකේ ############## වෙනුවට මොඩමයේ IMEI අංකය යොදගන්න. අපේ උදාහරනයේ විදිහටනම්
    http://bb5.at/huawei.php?imei=354300020014078

    (needs internet connection)

    එවිට ඔබට මෙවන් පිටුවක් ලැබෙවි. මෙකෙ අදාල unlock code එක සදහන් වෙනවා.


    අපේ උදාහරනයේ විදිහටනම් unlock code එක 41850586

    දැන් කොහොමද unlock කරන්නේ. වෙන SIM එකක් දැම්මම Mobile partner ම unlock code එක ඉල්ලනවා නම් මේ code එක එන්ටෙර් කරන්න. එහෙම නැත්නම් පහත ක්‍රමය කරන්න

    මුලින්ම මොඩෙම් එක සම්බන්ධ කරලා mobile partner රන් මෙවවනම් එකෙන් exit වෙන්න. ඊට පස්සෙ settings->control panel->system->hardware->device manager open කරගන්න. දැන් ports යටතේ HUAWEI Mobile Connect – 3G PC UI interface කියන එක හොයාගෙන එකත් එක්ක තියෙන COM පොර්ට් නොම්බරය බලාගන්න.


    අපේ උදාහරනයේ විදිහටනම් COM4.

    ඊලගට programs ->accessories ->communications –>Hyperterminal
    වෙත ගොස් HyperTerminal window ලබාගෙන කලින් බලාගත් පොර්ට් එකට සදහා පිහිටුම් සකස් කරගන්න.









    දැන් HyperTerminal එක connect කරගන්න.



    දැන් මේ එකේ AT (A යතුර, T යතුර සහ Enter යතුර) විධානය ලබාදෙන්න. එතකොට සියල්ල නිවරදිව තිබෙනම් "OK" යනුවෙන පිලිතුරු ලබෙවි. මීලගට
    AT^CARDLOCK= "########" විධානය ලබාදෙන්න.  ######## කියන්නේ අදාල කේත අංකයයි. අපේ උදාහරනයේ විදිහටනම්
    AT^CARDLOCK="41850586"

    එවිට පිලිතුරු වශයෙන්
    ^CARDLOCK 2,10,0 ලබෙවි.





    දැන් unlock කිරීම ඉවරයි. මොඩෙම් එක කැමති විදිහකට පාවිච්චි කරන්න පුලුවන්. වෙනස් පිලිතුරක් ලැබුනොත් යම් තැනක වරදක් වෙලා තියෙනවා. නැවත උත්සාහ කරන්න කලින් මේකෙ comment එකක් දාන්න. (උත්සාහ කරන්න පුලුවන් 10 වරක් පමනයි).
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    Investing in CSE




    Daily Mirror අන්තර්ජාල පුවත්පතින් උපුටා ගන්නා ලද්දකි. නවකයින්ට ඉතාමත් ප්‍රයෝජනවත් යයි හැඟුනු නිසා මෙහිද පළ කිරීමට සිතුනි.


    If an investor wishes to buy or sell shares through the Stock Exchange, the first thing that he/she should do is to open a Securities Account in the Central Depository System. 

    Central Depository System 
    The Central Depository System (Pvt) Ltd. (CDS) is a depository for all securities traded on the Colombo Stock Exchange (CSE). It also handles the post trade clearing and settlement of the secondary market transactions on the CSE. The CDS was incorporated in 1991 and it is a fully owned subsidiary of the CSE. The CDS is registered as a Clearing House by the Securities and Exchange Commission of Sri Lanka (SEC).  This registration is renewed annually.

    The CDS functions as a depository to hold securities in trust on behalf of shareholders of companies and provides depository, clearing and settlement services for equities (shares, preference shares, warrants)  and fixed income securities (Corporate and Government Debt) . Securities are held by the CDS in a dematerialised (electronic) form. The Securities and Exchange Commission of Sri Lanka has made it mandatory to convert any physically held share certificates to electronic form by 31 December 2011.

    The CDS opens and maintains CDS accounts on behalf of account holders through 43 participant organizations of the CDS. The CDS has granted participant status to 27 Stock Brokers of the CSE and 16 Commercial Banks (Custodian Banks). The participant organizations have access to all CDS services. Account holders are required to use the services of participants to access the CDS services and it is possible to use more than one participant.

    Opening and maintenance CDS Accounts
    If an investor wishes to buy or sell shares through the Colombo Stock Exchange he/she should open a Securities Account in the CDS through a Participant organisation (a stockbroker or a custodian bank). The applicant has to submit the duly completed Client Account Opening Forms together with the relevant supporting documents to the Participant. After scrutinizing the account opening documents inclusive of the supporting documents the CDS will register the applicant in the CDS system.

    Once the registration process is completed the CDS system will generate an acknowledgement slip with the Client Account Number and this acknowledgment would be handed over to the Participant confirming the CDS account opening. Client account number will be the national Identity card number/ passport number of the client along with the broker code.

    Registration of ownership
    Registration of ownership in the CDS is automatic on conclusion of a transaction of shares in a company listed on the CSE. The quantity of shares purchased is instantly credited to the CDS account of the purchaser. The Companies Act has provided for the person who purchases shares in a listed company to be deemed a shareholder in that company.

    Documents required to open CDS account

    Residents with normal identification

    1. A clear photo copy of the National Identity Card (NIC).
    •  If the NIC is not available a copy of a valid Passport as at the date of the Account being opened at the CDS.
    • An account holder can open CDS accounts with more than one participant
    • In the event an existing CDS account holder registered under a NIC has lost/misplaced the NIC and is unable to submit a copy through the new participant, the CDS will accept a copy of a valid passport which bears the NIC number. This should be submitted together with a sworn affidavit stating the fact that the NIC is not available.
    • In the event, both the NIC and Passport are not available, a copy of the Driving License should be submitted, together with an Affidavit confirming the fact that both NIC and Passport are not available.
    2. Proof of residency document Such as an electricity bill, telephone bill etc

    Non-resident Sri Lankans
    In the event a resident Sri Lankan becomes a non resident that person would have to open a new (Foreign) account. In such an instance the following documents relating to opening a foreign Client account needs to be submitted.

    A copy of the Sri Lankan valid Passport.

    Proof of residency document as per the Rules issued by the Financial Intelligence Unit of Sri Lanka
    SIA (Securities Investment Account) account details with documentary proof.Apart from this there are some other CDS forms that the investor has to fill.

    The CDS offers the facility of changing client account information.

    CDS statements
    CDS will forward to the account holder a statement if such account was active during a particular month (monthly statement) and will  forward to the account holder a quarterly statement if such account was active during the preceding three months (quarterly statement). An active account is an account with at least one transaction (purchase/sale/deposit/withdrawal/transfer) during the period/s referred to above.
    CDS will forward a statement annually as at 31st March  to inactive account holders (accounts with no transactions for a period of 12 months) having credit balances.

    Where an account holder wishes to change any particulars in the account, the account holder shall submit a letter indicating the desired changes together with any supporting document (relevant to the particular change) to the participant. The Participant shall verify the accuracy of information provided by the client and authenticate the signature before submitting the documents to the CDS. The CDS shall effect changes after verifying the documents submitted.

    Locked account
    The CDS also provides a service whereby shareholders of securities who do not wish to trade their securities, to "lock" their securities in a separate locked balance in their own CDS accounts. Once securities are  "locked"  in this manner such securities would not be visible to the CDS Participants (Stock Brokers and Custodian banks) thereby maintaining the confidentiality of the information and also safeguarding the account holder/shareholder from any possible unauthorized transaction by a Stock Broker. Trading on locked balances would be suspended.

    Securities could be unlocked from a locked balance and transferred to the trading balance of the CDS account holder only with the written authority given by the CDS account holder to the CDS through the relevant Participant.( (Stock Broker and Custodian bank)

    Dematerialization Service (Deposit of securities)
    Dematerialization is the process by which the physical certificates of a shareholder of a listed company are converted to an electronic form.

    A shareholder could only sell securities that are held electronically through a securities account in the CDS. The process of dematerialization requires the CDS account holder to submit the physical certificate and duly signed transfer form to CDS through the relevant CDS participant. The CDS will deposit the quantity of securities to the relevant securities account the same day.

    Rematerialisation Service (Withdrawal of securities)
    Rematerialisation is the process by which the electronic securities balances of a shareholder of a listed company get converted back to certificate form.

    A CDS account holder could obtain a securities certificate for purposes of pledging. The Account holder is required forward the relevant duly signed transfer form to CDS through the relevant CDS Participant. The CDS will withdraw the shares from the relevant securities client account and forward the relevant documents to the respective company secretary. The company secretary is required to submit the relevant securities certificate to CDS before expiry of seven (07) market days of lodging a valid transfer with them. The CDS Participant is then required to collect the securities certificate from CDS and forward the certificate to the account holder.

    Transfer service
    A CDS account holder has the facility of transferring the securities between securities accounts opened through different CDS Participants. Gifts are possible between immediate family members and have to be approved by the Securities and Exchange Commission of Sri Lanka. Such transfers attract a stamp duty. A CDS account holder who wishes to transfer securities must forward the relevant transfer documents through the relevant CDS Participant.

    Corporate Action Service
    The CDS facilitates the distribution of corporate actions by providing the entitlement schedules to the Company Secretary or Registrar enabling the Company Secretary or Registrar to identify the shareholders who are entitled to the corporate action. Distribution of dividends is handled by the Company Secretary or Registrar. In the case of Stock Splits or Rights issues, the new shares will be directly uploaded to the respective account holders’ securities accounts in the CDS.

    Transmissions
    The transmission of shares to the heirs of a deceased shareholder is done by forwarding the necessary documents such as the probate or letters of administration to the CDS through the CDS Participant and registering the same with the relevant company secretary. Stamp Duty is payable to the Department of Inland Revenue for such transmission of shares.

    Nominations
    A facility is available whereby account holders could nominate another person/s to receive shares in the event of a death of the account holder. This has been provided for by law through an amendment to the civil procedure code. The transmission of securities where a nomination has been made eliminates the need for legal documentation such as a probate or letters of administration and expedites the process of transfer of shares to the named beneficiaries.

    Settlement
    Equities are settled on a trade by trade basis followed by funds settlement 3 days later (T+3). Stock is transferred on trade date and cash transfers are on T+3. Settlement cycles are flexible for Government securities and Corporate debt securities at the discretion of the parties entering into the trade. Cash settlement is through one of the four commercial banks appointed by the CDS to act as settlement banks.

    Instructions to CDS
    All Instructions to the CDS have to be forwarded to the CDS through the relevant participant. All instructions to the CDS should be in the relevant CDS form except in the case of address changes where a letter signed by the account holder should be furnished with a proof of residency document.

    Read more: Investing in Stock Market ~ Guide to CSE http://www.guidetocse.com/2011/04/investing-in-stock-market.html#ixzz1cIQDtKmM
    From GuideToCSE.com
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    Friday, October 28, 2011

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    Shareapic.net: Make money by sharing your pictures online!
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