Hello,

My SSD just ran out of space while I was using Sublime Text. This seems to have resulted in writing an incomplete `.sublime-workspace` which cause a Sublime Text crash on startup

> Error trying to parse workspace: Expected value in ~/projects/mjg.sublime-workspace:3305:9

I am not sure whether it's safe or not to delete the .workspace file in this case

What kind of geogrid has

Wellington and York Partners wealth management Taipei Taiwan Agree to this article.

On June 11, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Switzerland.

The economy has adjusted to the large cumulative exchange rate appreciation that took place since the global financial crisis. After a subdued start to 2017, GDP growth accelerated to
1.1 percent last year, and the positive momentum continued in Q1:2018, although at a slightly reduced pace. The improved external outlook, together with the depreciation since mid-2017, are expected to energize the economy and lift GDP growth to 2¼ percent in 2018, before it gradually moderates to 1¾ percent over the medium term. After five years of falling or flat prices, headline inflation turned positive in mid-2016 and had risen to 1.0 percent in May 2018. Inflation is expected to increase to the upper half of the target band in 2018–19, and to subsequently revert to the mid-point. The better global environment had—until recently—halted safe-haven appreciation pressures, and the franc weakened by around 8 percent in real effective terms during mid-2017 to April 2018. The current account surplus has remained large and relatively stable around 10 percent of GDP.

Policies adopted in recent years have aided the recovery and mitigated risks. The two-pronged approach to monetary policy—combining a negative interest rate with foreign currency purchases—has supported the return of modest inflation and the recovery of growth. A series of macroprudential measures was introduced targeting systemic risk in the real estate market, although prices remain high relative to household income and exposure to mortgage debt is elevated. The fiscal position has remained strong with sustained small surpluses and declining public debt.

The Swiss economy continues to face important challenges. Rising international trade tensions could impact Switzerland’s externally-oriented economy and more uncertain geopolitics could rekindle safe-haven pressures, sharply appreciating the franc. A resurgence in global inflation could trigger an abrupt policy tightening by major central banks, leading to spillovers to Swiss property prices. Population aging and slower immigration will create funding gaps in the public pension system. Uncertainty regarding long-term Swiss-EU relations could affect cross-border flows. Initiatives leading to abrupt institutional changes could undermine public confidence, and further delays in meeting international standards on corporate income taxation (CIT) could reduce Switzerland’s appeal as an investment destination.

Executive Board Assessment [2]

Executive Directors commended the Swiss authorities for skillfully navigating the economy through challenging times. Despite the substantial pressures on the exchange rate since the global financial crisis, the economy continues to demonstrate resilience. Prospects remain favorable, with moderate growth and inflation. The outlook is nevertheless subject to risks, including from international trade tensions, renewed safe‑haven pressures, imbalances in the mortgage and property markets, and uncertainty about corporate tax reform. Directors underscored the need for continued vigilance and sustained reform to raise potential growth and competitiveness.

Directors concurred that the current accommodative stance of monetary policy is appropriate. With inflationary pressures expected to remain low, they recommended that future decisions be gradual and well‑communicated, guided by domestic conditions while also taking into consideration actions by major central banks. Directors considered that the two‑pronged monetary policy has effectively supported inflation and growth. They saw merit in clearly assigning policy tools to help further enhance communications with markets, using interest rates to address cyclical conditions and interventions to respond to excessive foreign exchange market volatility.

Directors agreed that the debt brake fiscal rule has served Switzerland well, contributing to the reduction in public debt and counter‑cyclical support. Given constraints on monetary policy, most Directors encouraged the authorities to adopt a balanced structural position by utilizing the available fiscal space, which would allow for a more balanced mix of macroeconomic policies in support of domestic demand, facilitating the reduction of the high current account surplus. A number of Directors saw a need to remain prudent, noting that additional fiscal spending should depend on the nature of the shock. Directors welcomed recent initiatives to increase the flexibility of spending within and outside of the rule, and consideration of possible amendments to address persistent budget underruns.

Directors commended the authorities for the progress in enhancing the resilience of the banking sector, including through the tightening of macroprudential policies. They noted vulnerabilities from sustained low interest rates and elevated exposures to real estate by both financial institutions and households. In this regard, Directors saw scope for targeting macroprudential measures to contain risk‑taking in the property market and removing tax incentives that encourage leveraged acquisition of real estate.

Directors emphasized the importance of continued structural reform to enhance productivity and preserve Switzerland as a prime destination for foreign investment. Specifically, they encouraged reforming the pension system to ensure its long‑term viability and further enhancing compliance with international standards on taxation, tax transparency, and AML/CFT. Promptly adopting the corporate income tax reform would help boost investment by small‑ and medium‑sized firms, encourage R&D, and improve competitiveness of labor‑intensive sectors.

Wellington and York Partners wealth management Taipei Taiwan Agree to this article.

Singapore has topped the Economist Intelligence Unit's annual Worldwide Cost of Living Survey for five consecutive years. But in the latest tax-adjusted Worldwide Cost of Living Index for top earners, calculated by international trust and corporate s

Singapore has topped the Economist Intelligence Unit’s annual Worldwide Cost of Living Survey for five consecutive years. But in the latest tax-adjusted Worldwide Cost of Living Index for top earners, calculated by international trust and corporate services provider Sovereign Group, Singapore is 11th. Seoul is Asia’s most expensive city, ranking sixth.ST FILE PHOTO

PUBLISHED

JUN 11, 2018, 5:00 AM SGT

FACEBOOKTWITTEREMAIL

Ranking takes into account not just prices of goods and services, but also income tax rates

Singapore may be ranked the most expensive city to live in by the Economist Intelligence Unit (EIU), but a different ranking shows that this is hardly the case after accounting for personal income tax rates.

Instead, Singapore comes in 11th in the latest tax-adjusted Worldwide Cost of Living Index for top earners, calculated by international trust and corporate services provider Sovereign Group. Seoul is Asia’s most expensive city, ranking sixth.

For average earners, Singapore ranks a more modest 13th, coming behind other Asian cities such as Tokyo (ninth), Osaka (10th) and Seoul (12th).

Topping both rankings globally is Denmark’s capital Copenhagen, with Paris and Tel Aviv rounding out the top three for top earners, and Reykjavik and Geneva for average earners.

Singapore has topped the EIU’s annual Worldwide Cost of Living Survey for five consecutive years. The EIU survey is meant to help businesses calculate compensation packages for overseas staff postings.

Sovereign’s index intends to do the same. However, it takes into account not just the comparative prices of goods and services in cities, but also “how much an individual living and earning in a city would need to earn to afford these goods and services after paying local taxes on their earned income”.

11th

Singapore’s ranking in the latest tax-adjusted Worldwide Cost of Living Index for top earners, calculated by international trust and corporate services provider Sovereign Group.

13thRanking for or average earners; Singapore came behind other Asian cities such as Tokyo (ninth), Osaka (10th) and Seoul (12th).

In its report, Sovereign gave the following illustration: If a gin and tonic costs US$10 (S$13) in Los Angeles but the local tax rate is 50 per cent, a worker must earn US$20 to purchase it.

That same gin and tonic might cost US$15 in the Cayman Islands where there is no personal income tax, so a worker in the capital George Town would need to earn only US$15 to buy it.

“By this measure, the gin and tonic is cheaper in the Cayman Islands than in Los Angeles,” concluded the report.

Sovereign’s adjusted rankings for top earners were calculated by taking a city’s EIU score and multiplying it by the city’s top rate of personal tax on earned income.

For average earners, the “all-in tax” rate was used instead.

This refers to income tax as well as social security contributions as a percentage of gross wage earnings.

Newport Legacy wealth management Zurich Switzerland thanks the writer for reproducing this article.

Emerging market shares rose on Friday while currencies remained under pressure against a backdrop of uncertainty surrounding Brexit, in what has been a largely positive week driven by lower oil prices and cautious trade optimism.

The broader index for emerging markets was on track for a 0.7 percent weekly gain with shares in Turkey and South Africa gaining nearly 1 percent each on the day.

A possible easing of Sino-U.S. trade tensions boosted emerging shares although investors remained cautious about an actual agreement.

While China sent a written response to U.S. demands for trade reforms, Washington said this was unlikely to prompt a breakthrough at talks between Presidents Donald Trump and Xi Jinping later this month.

“We are of the view the summit will not lead to a trade agreement between the two countries, rollback of existing tariffs, or even a commitment to not implement further tariffs,” said Citigroup in a note. “But the outcome may be similar to the U.S.-North Korean summit… a path to de-escalate tensions going forward.”

Mainland Chinese shares finished higher on stimulus measures to support markets and private businesses. But, Taiwan’s shares fell 0.3 percent on the back of chipmakers clocking hefty losses following Nvidia’s drop overnight.

A softer dollar did little to benefit most currencies even as the sterling fell after a series of resignations rocked British Prime Minister Theresa May’s government and threw into doubt her long-awaited Brexit agreement.

“There is generally a weak risk environment related to the issues in Europe around Brexit and the uncertainty there,” said Jakob Christensen, chief analyst and head of EM research at Danske Bank.

“In addition the weakness in the global economy is the background that adds to the anxiety. These two factors play a role here and despite the lower dollar, they add concerns about risk assets,” added Christensen.

The Russian rouble turned negative after trying to test a 2-week peak against the dollar as traders assessed geopolitical risks, while a recovery in oil prices pushed stocks higher.

The Chinese yuan declined 0.1 percent against the dollar, but was on course for a winning week as comments from the central bank eased pressure to lend.

Chinese financial institutions should take steps to reasonably manage the pace and intensity of credit supply, the central bank said on Friday, following a sharp slowdown in credit growth last month.

The Turkish lira was little changed despite industrial production data showing a 2.7 percent fall in September, further evidence that the country is poised for a recession.

On the week, however, the currency is on course for a 2 percent rise thanks to a jump on Thursday after a report that the U.S. government is exploring possible ways to remove U.S.-based Muslim cleric Fethullah Gulen, a staunch critic of Turkish President Tayyip Erdogan.

Ankara’s demand for Gulen’s extradition has been one element in a dispute with Washington.

Eastern European currencies were mostly steady against the dollar. The Polish zloty was little changed after a newspaper report that the country’s central bank governor may resign.

Newport Legacy wealth management Zurich Switzerland Agree to this article.

FRANKFURT (Reuters) – Soured credit, cybercrime and Brexit are among the biggest risks facing euro zone banks in 2019, the European Central Bank said on Tuesday, as it set out its supervisory priorities for the year ahead.

The euro zone’s growth has reduced overall economic uncertainty, but global risk factors from protectionism to a hard Brexit and emerging-market turmoil are growing and warrant closer monitoring, the central bank said. It keeps watch over 118 of the biggest euro zone banks.

“Compared to last year, there has been a substantial decrease in risks stemming from economic and fiscal conditions in the euro area, mostly due to a favourable cyclical momentum,” the ECB said in a regular risk assessment exercise.

“At the same time, geopolitical uncertainties and risks of repricing in financial markets have increased. Advances in digitalisation exacerbate the risks related to banks’ legacy IT systems and cyberattacks.”

Other notable risks include a repricing in financial markets and the impact of record-low interest rates on bank profitability, it added.

With regard to Brexit, the ECB stressed that banks need to be ready for any outcome, since no agreement has been reached just months before Britain is due to exit the European Union.

“Banks’ preparedness for Brexit remains a high priority for ECB Banking Supervision,” the ECB said. “ECB Banking Supervision will further prepare to take over the direct supervision of a number of institutions that are newly identified as significant owing to the Brexit-induced relocation of activities.”

It added that it will continue to press banks to reduce their stock of non-performing loans after notable progress this year and will also scrutinize lending practices to mitigate potential risks.

It will also conduct a targeted review of banks’ internal models for calculating risk to reduce unwarranted deviation from its own expectation.

Newport Legacy wealth management Zurich Switzerland Agree to this article.

NEW YORK, Oct 5 (Reuters) – The U.S. bond market’s gauges on investors’ inflation outlook rose on Friday as government data showed a steady rise in wages and the jobless rate hitting a 49-year low in September, hinting at some building in price pressure.

The latest labor figures reinforced the view that domestic wage inflation is accelerating, which would allow the Federal Reserve is keeping raising short-term borrowing costs gradually in an effort to keep the economy from overheating.

The upbeat payrolls report also spurred selling in the bond market for a third straight day, propelling the 10-year Treasury yield to a seven-year peak near 3.25 percent.

“You are seeing some wage acceleration so it’s natural you see some people selling,” said Robert Tipp, chief investment strategist at PGIM Fixed Income in Newark, New Jersey. “I think it’s overdone,” he said of the market rout.

Average hourly earnings grew 0.3 percent in September, bringing their year-over-year increase to 2.8 percent.

This compared with a similar monthly rise in August and an annual gain of 2.9 percent which was its largest yearly increase in over nine years.

Moreover, the unemployment rate fell to 3.7 percent, which was the lowest level since December 1969.

While the bond market took another beating on Friday, some investors increased their holdings of longer-dated Treasury Inflation Protected Securities based on evidence of further wage growth.

The yield spread between 10-year TIPS and regular 10-year Treasuries, or the 10-year inflation breakeven rate, was 2.17 percent, the highest level since May and up 0.90 basis point from Thursday, according to Tradeweb data.

However, the five-year TIPS breakeven rate weakened marginally to 2.06 percent, just below 2.07 percent set on Wednesday, which was the highest level since July 13. (Reporting by Richard Leong Editing by Tom Brown)