Are updates available for your software? Download trial here and take the test! 1 in 4 authorities use our finance system. Visit the Advanced Authority for our full range of solutions. Career guidance, HR Blog, Business article, Free courses, MOCC, Business gyan. Hello friends,I had been thinking about what best explains the brexit and got following email from HDFC. They have explained it well and I do not think anything else is required to explain brexit and its impact in India and heee you go. Brexit - A Non- Event for India. What is BREXIT? The European Union - often known as the EU - is an economic and political partnership involving 2. European countries. It has grown to become a . The United Kingdom Prime Minister, David Cameron at the time of his election had promised to hold a referendum on whether the UK should remain in the EU? The referendum has been held and the people of the UK have voted 5. Exit. What were the stakes for the British? The UK is one of 1. EU budget than what they get out and only France and Germany contribute more. The UK's net contribution for 2. The current PM has resigned and left it to the next PM to take a decision on Article 5. Once Article 5. 0 is activated, Brexit is certain. Brexit should then be a two year negotiation process between the EU and the UK. In a good case, it is possible that UK postpones invoking Article 5. UK within the EU and following up with a second referendum in 2. Brexit and Indian economy. It is hard to make a case of any meaningful impact on Indian economy of Brexit – either direct or indirect. The UK is a small trading partner of India – UK alone accounts for only 3. India’s merchandise exports and imports, respectively, as of FY1. Even that should not be impacted as Brexit will change the terms of trade between UK and EU and not with India. FDI flows from UK to India stood at only US$1bn in FY1. US$0. 8bn in FY1. Source: Finance Ministry and RBIImpact on Indian Companies. Brexit can have some impact on Indian companies that have businesses in UK/ EU. The medium term impact, if any, will be clear only post the revised terms of trade between UK and EU are finalized. This should take 2- 3 years from now. In the interim, the GBP depreciation is an unexpected positive for companies like Tata Steel and Tata Motors (JLR) that have manufacturing operations in the UK. Barring these companies, the impact on other sectors like pharma, IT, banks and agrochemicals is likely to be marginal. Capital outflows. A pessimist may argue that Brexit will lead to FII outflows from India due to risk aversion. While there is no meaningful link between Brexit and Indian economy, India is in a strong position even if there are some outflows. Consensus expects India’s CAD to remain manageable at about ~1. GDP in FY1. 7. Foreign exchange reserves at ~US$3. Net FDI inflows have increased to an all- time high of US$3. FY1. 6. Impact of any FII outflows even if it does happen will not be felt by the economy, though stock markets may be impacted in the very short run. Interest rates. Considering India's relatively stable macro situation (CAD ~1. Fiscal Deficit ~3. Even if there are some FII outflows, which may lead to liquidity tightening, RBI is likely to provide additional liquidity through repos and purchase of Gsecs in the open market operations (OMO). Uncertainty in EU is likely to lead to USD strengthening and lower global commodity prices. Interestingly, Brent oil prices were down ~4% today. This is likely to aid continued low inflation and provide room for lower rates in India. The impact of Brexit on all segments of debt markets today has been fairly muted. In the money market (CP & CD) and corporate bond market - yields have moved higher by just 2 to 3 bps. While the yields in treasury bills and government bond market are flat to lower as compared to the levels prevailing yesterday. The INR was stable and depreciated marginally vs. It is quite evident that on most of these occasions, the correction in the Indian stock markets was a good opportunity to invest for the long term investor. This is so because the nature of Indian economy is one of secular growth and global developments have only a marginal impact on it. Table: Past global events and the returns thereafter. Source: Bloomberg.
In our opinion, the Indian markets will quickly discount/recover from Brexit. Interestingly, due to focus on Brexit, the steady improvement in the Indian economy has been ignored. The table below gives the key macro- economic indicators. Source: Kotak Institutional Equities Research. The correction of Indian equities at a time when the Indian economy is improving on nearly all parameters has created a good opportunity for the discerning investor. The chart below presents Market cap/GDP ratio of India. It can be seen from the chart that the Market cap/GDP has fallen to attractive levels. India market cap to GDP ratio, calendar year- ends 2. Source: World Bank, Bloomberg, Kotak Institutional Equities, updated till 3. March, 2. 01. 6The policy direction in India is right and economy is making good progress on most fronts. The economy and equity markets also appear to be in transition from consumption to capex. Impact of higher infra allocation and the several steps taken by government over the last two years is expected to be felt strongly from FY1. Railways, Power Transmission and Distribution, Mining, Roads and Urban Infrastructure likely to lead growth. Improving fundamentals of the Indian economy and attractive market cap / GDP lead to a positive outlook for the equity markets over the medium to long term. In a lighter vein, Gold prices went up by ~5% today making Indians richer by ~$4. Equity markets lost ~$3. Hence, Indians are actually better off from Brexit! To conclude, Brexit is not a material event for the Indian markets. Indian economy is on a steady recovery path and valuations are attractive. The correction in markets thus provides an attractive entry point for the medium to long term. DISCLAIMER: The views expressed herein as of June 2. Any calculations made are approximations, meant as guidelines only, which you must confirm before relying on them. The information contained in this document is for general purposes only. The document is given in summary form and does not purport to be complete. The document does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. The information/data herein alone are not sufficient and should not be used for the development or implementation of an investment strategy. The statements contained herein are based on our current views and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Past performance may or may not be sustained in future. Neither HDFC Asset Management Company Limited (AMC) and HDFC Mutual Fund (the Fund) nor any person connected with them, accepts any liability arising from the use of this document. HDFC Mutual Fund/AMC is not guaranteeing/offering/communicating any indicative yields or guaranteed returns on investments made in any scheme(s). The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible/liable for any decision taken on the basis of information contained herein.
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The Prince and Malik seem to kill Ratash, and Malik absorbs his power, shattering his half of the seal. Malik then runs off, seemingly in a hysterical fit, using some of Ratash's powers to escape. The Prince pursues him, and again finds Razia. Razia explains that Ratash cannot be killed by any ordinary sword, and that what actually happened was quite different from what the Prince saw: Ratash has actually killed Malik, and possessed his body. The Prince doesn't believe this, and sets out to find the Djinn Sword, hidden in the ancient city of Rekem, which Razia says can kill Ratash. Along the way, the Prince chases Malik, now being used by Ratash to retake the Ifrit's original form. The Prince loses a battle to Ratash and, convinced his brother is truly dead, finds the Djinn Sword. Razia soon bonds with the sword, giving it the power needed to destroy Ratash. The Prince again searches for Ratash. When he finds him, Ratash is now gigantic, literally fed by the sandstorm which has come over the palace. The Prince uses the sword to kill Ratash, and, when the sandstorm subsides, he finds Malik dying. Malik says to tell their father that Prince will be as mighty a leader as Solomon, then dies. In an epilogue, the Prince tells of how he took the sword back to Rekem, where he thought Razia would want to rest, and how he must now set out to inform his father of Malik's death. Characters. The DS, PSP and Wii versions are developed separately and will feature different gameplay than the Xbox 3. Play. Station 3 and Windows versions. The biggest new feature is the addition of elemental powers. There are four core powers in the game: Fire, Ice, Wind and Earth. Each of them translates to a different power during combat, such as the ability to . The Prince will be able to fight multiple enemies in one battle, up to 5. This new version loads part of the game's content from the server and will not allow the player to continue if a connection to the server does not exist. On 2. 8 June 2. 01. DRM was cracked by replacing the code with offline equivalents. Versions download directly with the Uplay launcher and with the steam client do not require a constant internet connection to play single- player. Marketing and release. It includes two new skins, a new exclusive map for survival mode, the game's OST, as well as a free copy of Prince of Persia: The Sands of Time. A free copy of Prince of Persia: Warrior Within was given to those who pre- ordered The Forgotten Sands on Steam. Another combo of the Deluxe Edition also includes the Official Strategy Guide from Prima. Game. Rankings and Metacritic gave it a score of 5. DS version. It was developed by Ubisoft Quebec exclusively for the Wii. The game features a completely different storyline and setting from other versions, as well as gameplay mechanics, as the game makes use of the Wii's motion control as well as conventional buttons. While other versions of Prince of Persia: The Forgotten Sands feature powers such as water or time manipulation to aid the player, the Wii version has its own unique set of powers: It features a . Prince of Persia: The Forgotten Sands for the Wii also features some bonus content, such as unlockable in- game character skins, art galleries, developer diaries, bonus levels, and the original 1. Prince of Persia. The game is popularly referred to as having last generation graphics and dull combat, but was generally praised for its unique and creative gameplay mechanics as well as its overall strong production values, including it's unique storyline. Characters of this version include: Zahra - A female genie that the Prince bought in a market. The Beast - A grotesque creature that the prince will have to chase. The Sorceress/Nasreen - The main antagonist, an evil creature that controls the magic vine called the Haoma. The PSP version is a side- scrolling 2. D platformer that roughly follows the same style as the other versions. It has a different storyline involving freeing the Sisters of Time, a different setting and antagonist. The game features a plot in which the prophecy is written that a member of Prince's royal family will bring an end to an evil fire spirit Ahihud's dark reign over hidden mystic land. To ensure his survival, the evil spirit's minions hunt down those with the royal blood of Persia. Prince escapes his tower, where he is kept protected by his father, and pursues a mysterious guiding light, which turns out to be Helem, a spirit of Time who promises to help the Prince defeat his enemy. Together, they journey to mysterious, hidden kingdom which is revealed to be the holy site where the first god came to create universe. The kingdom is fully under control of Ahihud, who aims to devour the land's magical energy, the Elixir. The player has to confront Ahihud's sand monsters, collects Elixir to boost his own strength and vitality, and find portals to spirits realm, where Helem's sisters are to be freed. Each freed Sister of Time grants Prince a new ability to control time, like freezing a selected spot or creature, or hasting it. After making his way through the mystic land, Prince defeats Ahihud's two most powerful servants, the gigantic guardian of the palace and the sand assassin, who was created to hunt down Prince's relatives. In the end, Prince is able to kill Ahihud in his own domain in spirits realm, fulfilling the prophecy and restoring the mystic land to its former glory. Characters of this version include: Helem - One of the . To maneuver, the player must hold the stylus in the direction relative to the Prince character where the player wants to move. To climb, the player must hold the stylus part way up a wall, to jump, the player holds the stylus at the other end of the gap. Combat in the game is stylus- controlled as well. To defeat enemies, the player must slash them. This is done by moving the stylus diagonally across the enemy the player intends to attack. The player can also slow down time if there are any obstacles that are moving too fast for the player to traverse. The player has a limited number of times they are able to use these powers, as they have a set number of sand orbs, which allow them to manipulate these powers. Should the player face death without rewinding time, they will revert to their last obtained checkpoint. There are also sessions of the game in which the player rides a horse, using the stylus to steer the horse left or right to evade obstacles. The plot of the DS version centers on the Prince character being abducted by a cult. This cult brings the Prince to an ancient temple in India and uses his sword, which houses the Djinn queen Razia, to obtain a blood sacrifice from him. Using the Prince's royal blood and Razia's Sand powers, the cult liberates an evil force locked in the temple, erasing the Prince's memory and stealing Razia's powers in the process. The temple collapses as the evil is freed, and the Prince falls into a pit. At the bottom, Razia's spirit leads the Prince to his weapon, and tells him that the ceremony he was abducted for is the reason why he doesn't remember anything. |
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