Government debt

participate actively in achieving the goals and objectives of an Islamic economy. Islamic Shariah prohibits ‘interest,’ but it does not prohibit all gains on capital. It is only the increase stipulated or sought over the principal of a loan or debt that is prohibited. Islamic principles simply require that performance of capital should also be considered while rewarding the capital. The prohibition of a risk free return and permission of trading, as enshrined in the Verse 2:275 of the Holy Quran

guard against “unsustainable budgetary policies in a member state” because these are seen to lead to either “default or debt monetisation” which would “be a major threat to the overall monetary stability” (European Economy, 1990:100) Furthermore, the convergence criteria makes clear that “fiscal discipline is defined as the avoidance of an unsustainable build-up of public debt” (Emerson, 1992, pp.107) and the transition to EMU for a country will “amplify the domestic effectiveness of national fiscal

evaluated to be 300 million people. Inconvenient of the subway in India Even though India needed a mass transportation system for its biggest cities, some inconvenience can be seen; the subway system is only settled in a few cities, the Indian government can’t afford to build such a structure for small towns, not even medium towns, even if a medium town would be the equivalent of the biggest western European cities. This problem strengthens the inequalities between those who live in the cities and

population boom, lack of supplies, especially food. Objective of the implementation in Ireland: supply England with food. Implementation done peacefully at the beginning followed with violence when it became a colonial implementation, imposing a government and influence. Act of Union (1800): union between Ireland and England. The two Irelands merged into one entity, ruled by England. Lasted till 1920, Ireland was then separated into two parts. Northern Ireland (6 counties) and South Ireland, a free

especially in countries members of the OECD. Developed countries as a majority are under the pressure of a necessary reform as the systems enforced decades ago are encountering financial limits. Deficits are accruing and will go on in the future. The governments are wondering how to reduce the economic and demographic pressure they are undertaking, all the while avoiding to create supplementary burden, expenses, costs, for the future workers. In France notably, the retirement scheme reform has been a leading

earnings growth, debt ratios and variance in earnings. Beaver, Kettler, and Scholes (1970) examined the relationship between betas and seven variables - dividend payout, asset growth, leverage, liquidity, asset size, earnings variability, and the accounting beta. Rosenberg and Guy (1976) also attempted a similar analysis. The following is a regression that we ran relating the betas of NYSE and AMEX stocks in 1996 to four variables: coefficient of variation in operating income (CVOI), book debt/equity (D/E)

have recognized that unexpected events can occur anytime, be it to their health or to their finances. Their two children are financially independent and in good health and they are the proud grandparents of a 1 and a 3-year old. The couple has no debt, and the following assets (at approximate fair market value): Home $ 400,000 Two vehicles 50,000 Non-registered financial assets: Ellen Bank accounts 25,000 RBC Investment Account 125

contracts in order to protect investors from adverse changes in national legislation. These contracts have a term from 3 to 20 years. The Colombian government commits itself not to change the legislation concerning the investor. The requisites for the LSC are: The investment should exceed US1.490.000 and 1% of the investment should be paid to the government as a premium. * Free trade zones: In Colombia, free trade zones have been functioning since 1958, Today there are 45 free trade zones where

electronic industry is particularly affected by the recession. More than 1 million workers have voluntary handed in their notice. This voluntary unemployment has mainly affected workers below age 35. Second, the reforms undertaken by the government to lower Japan’s foreign debt have also contributed to increasing the unemployment rate. CHÔMAGE RECORD AU JAPON. Pour la première fois depuis la Seconde Guerre Mondiale, le chômage a atteint au Japon plus de 5%, c.-à-d. que 3,3 millions de personnes sont

SEOUL Seoul showed Beijing that the Games could also have for consequence a political up rising. While the Olympics were on Korea, demonstrations in favour of democracy burst out. The Korean leaders were driven out and replaced by an elected government. The companies arrived in large number to Seoul, which made it possible for South Korea to become the third economical power in Asia. - 1992: BARCELONA The Games transformed the landscape of Barcelona and modified the image of the city, which