Vallibel Finance pre tax profits hit Rs. 404m - Sunday Observer Vallibel Finance pre tax profits hit Rs. 404m - Sunday Observer

Saturday, June 2, 2012

Vallibel Finance pre tax profits hit Rs. 404m - Sunday Observer

Vallibel Finance pre tax profits hit Rs. 404m - Sunday Observer

Vallibel Finance pre tax profits hit Rs. 404m

Vallibel Finance PLC recently announced its provisional financial performance for the recently concluded Fiscal Year 2011/2012.

The total Interest Income of Vallibel Finance grew by 86 percent year-on-year from the Rs. 595m recorded as at March 31, 2011, to stand at Rs. 1,105m as at March 31, 2012.

Pre-Tax Profits rose to Rs. 404m as at the end of the Fiscal Year, ascending 75 percent from the previous year's Rs. 231m. Profit After Taxation too doubled, rising by 114 percent over the year to stand at Rs. 230m at the end of the year.

During the previous year, the company was ranked among the most respected entities in the country by LMD, in its 2011 survey and also that its significant rise in brand equity was recognised in LMD's Most Valuable Brand Survey 2012; Vallibel Finance's rank rising to 58th in the survey, alongside some of the greats of the banking and finance sectors.

"The positive trajectory of the company's profits is certainly encouraging for all of us at Vallibel Finance", said Managing Director, Jayantha Rangamuwa. He said that the upward trend was possible due to the careful investment in profit-worthy ventures as well as diligent management of overheads by the company.

"We have also increased our asset base by 72 percent over the year", said Rangamuwa as the company records a total asset base of Rs. 6.6b at the end of the current financial year, an increase from the previous year's Rs. 3.8b and moreover, well above the industry average.Fixed Deposits form an important part of the portfolio and total Deposits which were Rs. 2.5b last year grew by 51 percent to reach Rs. 3.9b at end March 2012.

The Net Non-Performing Loan Ratio (NPL) stood at an industry-benchmark steady 0.77 percent.

Chairman of Vallibel, Dhammika Perera said that the financial performance has proved that Vallibel Finance is a rising force in the financial sphere" "It has far-surpassed expectations and continues to move up the ranks of the financial sphere over a very short period amid fierce competition".

 


Money and passports: Is George Zimmerman's plight racial? - HULIQ.com

Shouts of injustice may calm some down now that Travyon Martin’s shooter George Zimmerman has to report to jail in the next two days.

A judge has given Zimmerman 48 hours to surrender. The judge also revoked Zimmerman's $150,000 bond.

Zimmerman failed to report $200,000 raised and stored inside his PayPal account. He and his wife discussed the evasion during jail phone calls. The two used a special code to deceive listeners and discuss the funds.

A Florida judge ruled that Zimmerman’s deceit merits revocation of his bond. Furthermore, Zimmerman’s second passport was discovered.

Some argue that his $200,000 should not be included as personal finances because that money goes to his attorneys. Others say that Zimmerman’s lie, or attempted cover-up, really harms Zimmerman’s chances at trial. They asked how can a jury believe a man who hasn’t been honest with the courts?

Others have defended Zimmerman’s two passports, explaining that he likely lost the first and ordered a second. Still, wisdom, based in logic and the law not race, dictates that if Zimmerman’s second passport was needed because he lost the first, then an honest man would have reported recovering the first lost passport.

Zimmerman’s last name, particularly European, and Trayvon’s first name, particularly African American, have set off a string of events that have pit race and parties against each other.

Many older members of the African American community believe George Zimmerman wasn’t charged with murder immediately because his victim was black. A number of African Americans and lawyers for Trayvon Martin have stated over and over that had Martin been the shooter, Martin would be in jail.

Those on the opposite end of the race spectrum, those who believe Zimmerman is a white victim, are also prominent debaters in the Trayvon Martin shooting. Many argue that Zimmerman’s hope rests with Republicans and gun lobbyists who believe in Stand Your Ground and the right to bear arms in this country as long as the owner has a legal right (permit) to carry the weapon.

Others point to an African American President who has made only one comment on the Trayvon Martin shooting. Weeks after the murder and about a week after Trayvon Martin’s death saturated cable news, President Obama told the world that if he had a son, his son would look like Trayvon. These “others’ argue that Zimmerman’s become part of a federal “witch hunt”--a sly reference to Department of Justice Deputy Eric Holder, also African American.

Communities, black, white and other, have all cried “Justice for Trayvon” thus shunning any and all notions that they’ve gathered in Trayvon’s Martin name to race bait. For many, Zimmerman’s trial is about justice, not race.

Zimmerman shot an unarmed African American 17-year-old. His lawyers will argue self-defense. The 17-year-old had THC in his system. Zimmerman had been on a prescription drug that warns of upset to the psyche, particularly with moods that cater anxiety and aggression.

What his trial and the what the law mean to George Zimmerman isn’t clear. Past behaviors, inc luding a scuffle with police that merited a mug shot and criminal record suggest that Zimmerman has had problems with authority in his past. Lying about his finances has cast an old light on Zimmerman. A light that suggests Zimmerman owns a certain disrespect and casual disregard for the American Justice System

passport cover photo credit: Wikipedia

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Money test ahead for teens - AZCentral.com

Roughly 3 million students are graduating from high school this year. Do they know enough to manage their money effectively?

Some signs suggest that teens and young adults, like Americans generally, still have a lot to learn. High-school students who this year took a government-sponsored test of money issues, known as the National Financial Capability Challenge, got only 69 percent of the questions correct on average. Arizona students did worse, notching an average score of 67 percent.

Most schools don't routinely offer practical training in financial management, even though most Americans will deal with banks or credit unions, investments, credit cards, taxes, insurance and the like.

The lack of money education is nothing new, but today's crop of teens and young adults faces particularly tough challenges. These include an unusually sluggish job market, a more complex financial landscape, an uncertain future for Social Security and heightened white-collar-theft risks.

Given the obstacles, many experts suggest young adults should do what they can now to get educated, even if it means doing it on their own.

"The mistakes they make can have costly and long-lasting consequences," said Bill Hardekopf, chief executive officer at LowCards.com, in urging today's graduates to start building sound money habits.

Alyssa Coughenour, who graduated from Pinnacle High School in May, might be more prepared than many of her peers. She has been using a debit card and checking account for two years, recently got a credit card and saves money regularly from her summer job.

She also took a course on financial basics through the Boys & Girls Clubs of Greater Scottsdale. The course touches on budgeting, saving and more.

Coughenour, who is 18 and will be heading to Duke University, also credits her parents with serving as helpful role models. "They pounded into my head that you don't want to get too deeply into debt," she said.

Coughenour said she regularly pays off her credit-card balance in full and aims to maintain a balance of at least $500 in her checking account.

John Arnold, a certified financial planner with AXA Advisors in Scottsdale, suggests that young adults build credit, but only if they can do so without maxing out on their available balance, straining to make payments or, worse, defaulting.

A lot of Americans can use a lesson in living on less than they earn.

Step one is drawing up a budget, to see where your money goes. You likely will need to track spending for at least a couple of months to get an accurate picture and to see how certain expenses vary over time. From the budget, you may be able to identify a cash surplus that can be put into savings.

Studies have shown that many Americans are woefully short of savings they can draw on in a pinch -- for that unexpected auto repair or other big expense. "Get in the habit of saving on a regular basis, even if it's only $25 to $50 a month," Arnold advises. "Building good financial habits at a young age is the important thing."

After the emergency fund, try to save for the long haul. The main advantage young adults have is time -- you can grow investments substantially with many years to work with. If feasible and if you have work-related income, set aside money in a Roth IRA, on which you can make tax-free withdrawals decades down the road.

Also, get familiar with credit. Potential lenders already might be monitoring how well you handle financial responsibilities. Your track record with debt shows up in your credit reports, and the information on file in these reports goes into calculating your credit scores.

With good scores, you generally will be able to borrow at low interest rates, while bad scores will hurt. Credit scores are checked when you apply for all types of loans, including credit cards, Hardekopf said. They also could factor in when you apply for insurance, seek to rent an apartment or even apply for a job.

Over your lifetime, you will deal with various types of financial institutions. A good first step is to learn about banks and credit unions. Make sure you can recognize the many types of fees that could apply, from ATM surcharges to overdraft and account-maintenance costs. But also recognize that you might be able to obtain checking accounts and even use credit cards for little or no cost.

Of special note, in this digital age, teens and young adults should heighten their awareness about identity theft. The Internet and social media are great for researching and sharing information, but they also offer more avenues for crooks to get at your money. Don't carelessly reveal personal identifiers such as your birth date, mother's maiden name or Security Security number.

Thieves have been known to raid bank accounts, claim someone else's income-tax return and take out loans while posing as another person. You might be able to mend the financial damage -- many credit-card companies will absorb all fraud losses, for example. But it could take weeks or months, possibly years, to clear your name.

Your financial future also will be easier if you learn basic concepts now. These include the relationship between bond prices and interest rates, income-tax rules, key types of insurance coverages and how compound interest can work -- for or against you. Also, recognize that there's a general link between risk and return -- safe instruments like bank accounts generally deliver the lowest returns while riskier assets such as stocks stand a good chance of generating higher profits if you can accept uncertainty.

The vast majority of today's graduates haven't received many classroom lessons, but the tests will come, sooner or later.

Reach the reporter at russ.wiles@arizonarepublic.com or 602-444-8616.



Young Money Prez On Lil Wayne/Pusha T Feud, "If A Gnat Keep Flyin' Around You, Eventually You Gonna Swat It" - SOHH

News: Young Money Prez On Lil Wayne/Pusha T Feud, "If A Gnat Keep Flyin' Around You, Eventually You Gonna Swat It"

Saturday, Jun 2, 2012 11:46AM

Written by Cyrus Langhorne

Young Money President Mack Maine has offered his take on the current war of words between Lil Wayne and Pusha T, claiming fans shoudl not expect a full-fledged rap war.

In Mack Maine's eyes, they have bigger things to worry about than entertaining a feud.

"It's not like that. I don't see it like that. That's not what we in the game for," Young Money president Mack Maine told MTV News of a potential G.O.O.D./YMCMB dustup. "If it ever came to that, God forbid, that's a whole different story, but right now we're just tryin' to get paper, we're just tryin' to get money, man, and make good music. And ['My Homies Still'] was a great song that was made before that situation happened, and I'm not 'bout to go into the studio and tell Wayne to take [Big Sean] off. Wayne not tryna take him off -- he's good peeps, he's fam." (MTV)

He also offered up some words on Wayne going at Pusha on wax.

So what about "Goulish"? "In a nutshell, if a gnat or a fly keep flyin' around you, eventually you gonna swing and swat it and just get it out the way," Mack said, using an analogy in which Pusha would play the insect. "Sometimes you swat it and the gnat dies; sometimes it just go away. ... You can keep flyin', just fly somewhere else, though. We chillin'." (MTV)

Despite Maine's stance, Young Money star Drake reportedly went at the Virginia rapper last weekend.

Drake's YMCMB big homie Lil' Wayne put out the diss track "Goulish" a couple days ago aimed at Pusha T in response to his "Exodus 23:1" record, and now, Drizzy has some words of his own for Pusha. During his Club Paradise Tour set this weekend in Washington D.C., Drake said, "If you was doing 16s when I was 16 and your sh*t still flopped and you switched teams, don't talk to me my n*gga." This immediately set off a ton of Tweets saying that Drake had called out Pusha on stage. And with this, the drama continues. (Complex)

Last week, Weezy put the G.O.O.D. Music star on blast with his new "Goulish" record.

The beef is on. This evening YMCMB flagship artist Lil Wayne did the expected and dropped a scathing dis record titled "Goulish" aimed at Clipse lyrical monster Pusha-T. "F--k Pusha-T and everybody that love him. His head up his a** so I'ma have to head butt him" Wayne raps on the intro to the record. N*ggas can't see me. Not even a glimpse. Too many banana clips, I feel like a chimps." (RapFix)

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