Chinese investment in fixed assets like roads and bridges have been on the wane since April 2009.
Furthermore, CFO should also routinely exceed capital expenditures (what the company spends on equipment and other fixed assets).
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Investment in fixed assets grew by 21.3% in the year to December, its slowest pace in seven months.
Developers are a big chunk of the economy-accounting for 33% of total investment in China's fixed assets last year.
Even though investment as a proportion of GDP is high, China's accumulated investment in fixed assets is still low.
One driver is the big outfits' desire to reduce expenditure on fixed assets.
Pacific Andes looks for cheap long leases on its factories, and in China such fixed assets are easy to come by.
As for the fixed assets (like the building and the ground), those will probably have a lower value than stated on the balance sheet.
Especially in rural areas, many of the more enterprising clergy have been trying to make their fixed assets, the actual churches, work harder for them.
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Official figures show investment by the private sector in fixed assets such as factory buildings and machinery grew nearly threefold between 2000 and 2005 (see chart).
For a start, investment in fixed assets is practically flat.
On the negative side, revenue growth is decelerating at the same time Amazon is investing more than previously expected in fulfillment centers (fixed assets) and operating and customer service employees (variable costs).
Investment in fixed assets, such as buildings, factories and equipment, has grown by between 21% and 26%, year on year, for the past four quarters, despite the government's efforts to tighten credit.
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The National Bureau of Statistics said urban investment in fixed assets such as roads, power plants and apartment buildings rose by 26.5% in January and February from a year earlier, beating market forecasts for a 21.5% increase.
After the notice for fixed assets, Kingfisher's lenders will send it another notice to invoke Mr. Mallya's personal guarantees and UB Group companies' corporate guarantees, of a combined value of 30 billion rupees, Mr. Acharya.
Unlike the goods and services prices index, the GDP deflator measures change In compensation of employees, operating surplus (including mixed income), and consumption of fixed assets arisen from changes in prices and nominal net taxes.
Over the years the company has transcended from a commodities trading firm to an investment holding firm of sorts, making massive investments in fixed assets, including mines stretching from Australia to Latin America to Africa.
Globalization allowed the U.S. to specialize in the creative aspect of things, the risk-taking production of concepts and ideas--that is, the scalable part of production, in which more income can be generated from the same fixed assets through innovation.
Alexander Gorra, head of the international department at BNY Mellon ARX in Rio de Janeiro, said that Japanese inflows into fixed assets began to slow in October 2010 when the government increased the financial operations tax, known as the IOF, for foreign buyers of government debt.
The sale of fixed assets is the second step in the lenders' move to recover Kingfisher's 70 billion rupees loans, and may finally lead to its flamboyant owner Vijay Mallya losing his Goa villa and the Kingfisher office space in Mumbai--both of which he has been reluctant to part with.
Proxies in place, the team dove into the data and came up with surprising results: Between 2002 and 2007 (the years covered by the database), public firms increased their gross fixed assets (as a percentage of total assets) by 4.0 percent a year on average versus 9.7 percent at similar private firms.
As a proportion of total fixed-assets investment the figures suggest little change (14% to 16%).
In this scenario, fixed income assets tend to suffer while inflation-hedging assets benefit from the currency devaluation.
Strong government balance sheets and higher interest rates will continue attracting foreign investor capital into fixed income assets in places like Brazil.
Vivendi and Vodafone will probably merge their fixed-line assets into a single entity.
"Investors should be rotating into other fixed-income assets, " Mr. Colmar says.
That's because over half the investment portfolios of both Ping An and China Life are in bonds and other fixed-income assets, while only 10% is in equities.
Investors who aren't under Uncle Sam's thumb can move their money elsewhere, bidding up prices and driving down yields on other fixed-income assets in the U.S. and offshore.
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That was splendid for the purchasers, but rather unwise of the life companies, which had no way of hedging their liabilities with fixed-interest assets with a similarly high yield.
Research by Kristin Forbes of the Massachusetts Institute of Technology and Marcel Fratzscher, Thomas Kostka and Roland Straub of the European Central Bank has assessed the impact of Brazilian taxes on foreign purchases of fixed-income assets between 2006 and 2011.
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