For increased effectiveness and efficiency, UNOPS will use net present value or internal rate of return to determine the expected value of the investment.

African stock markets were undervalued their price earnings ratios were considerably lower than those of the Standard and Poor 500, though their rate of return in 2003 and 2004 had been considerably higher than the rate in Latin America or Europe.

Low real long term rates mean that any long term asset that pays, say, 100 a year in real terms would have been worth a real 1,429 in 1984, when it yielded 7 , but would have to be worth a real 5,000 now, when it yields just 2 . A decline in long term rates of such magnitude would thus appear to imply massive price inflation for real assets, justifying the high prices we are in fact seeing.

The cumulative annualized total rate of return over the 38 year period for which data are available was 9 per cent, or a real rate of return of 3.8 per cent, after adjustment by the United States consumer price index.

After adjustment by the United States consumer price index, the quot real quot rates of return for the two years under review were 5.9 per cent and 18.9 per cent, respectively.

The cumulative annualized total rate of return over the 38 year period for which data are available was 9 per cent, representing a yearly quot real quot rate of return of 3.8 per cent after adjustment by the United States consumer price index.

NEW HAVEN The prices of long term government bonds have been running very high in recent years (that is, their yields have been very low). In the United States, the 30 year Treasury bond yield reached a record low (since the Federal Reserve series began in 1972) of 2.25 on January 30.

(a) Proceeds derived from offences covered by this Convention or property the value of which corresponds to that of such proceeds

(24) As regards proceeds from disturbance of fair value, it is required to list the amount of such proceeds at current period and last period according to their sources.

(a) The proceeds of serious offences, or assets of a value equivalent to that of such proceeds

Assumed rate of real return (Millions of United States dollars)

Any variance due to fluctuation of those rates is accounted for as income or loss in the statement of income and expenditure.

House price to income ratio, 1992 3.1

The low interest rate on long term Treasury bonds has also boosted demand for other long term assets that promise higher yields, including equities, farm land, high yield corporate bonds, gold, and real estate. When interest rates rise, the prices of those assets will fall as well.

The competent regulatory body may have to approve criteria and parameters to be followed for determining reasonable price levels that allow the project company to recover the investment and achieve a reasonable rate of return.

This included 1.5 million in exchange rate gains.

So you can double efficiency with a 60 percent internal rate of return.

At the moment, the yield to maturity of the ten year US Treasury bond is 3.76 . Subtract 2.5 for inflation, and you get a benchmark expected real return of 1.26 .

(d) Obtain the required 3.5 per cent annualized real rate of return for the investments of the Fund over the long term after adjustment based on the United States consumer price index.

There's an overhang of capital in the U.S., and the key is yield pickup.

Over the past 20 years, the first component of the benchmark, the Morgan Stanley Capital International World Index, had achieved a total annualized return of 14.6 per cent compared to 14.1 per cent achieved by the Fund apos s total equities. The second component, the Salomon Brothers World Government Bond Index, had achieved a total annualized return of 9.9 per cent compared to a total annualized return of 10.9 per cent achieved by the Fund apos s bond portfolio.

Other income consists mainly of interest income, gains losses as a result of exchange rate movements and other miscellaneous items.

Other income consists of 1.498 million exchange rate gains and 1.928 million interest income.

A rate of return slightly above unity is expected on these projects.

4. The Board recommends that UNDP monitor returns on investments against prevailing market rates (para. 45).

Thus, the expected fundamental real return on diversified US stock portfolios right now is in the range of 6 to 7 . The expected market return is that amount plus or minus expected changes in valuation ratios will stocks return more as price earnings ratios rise, or return less as price earnings ratios fall?

So why is such a plentiful and valuable material not recovered at anywhere near the rate of the less valuable material?

Article 25 The Company shall present the data of the previous period, that of the current period and the percentage increase or decrease of the following business performance indicators rate of return on net assets, rate of return on total assets and business expense ratio in tabular form.

Article 76 The Company shall present the data of the previous period in tabular form, that of the current period and the percentage increase or decrease of the following business performance indicators rate of return on net assets, rate of return on total assets and business expense ratio.

Even if the Fed ignores deflationary pressure and hikes interest rates more quickly, medium and long term rates are still likely to be anchored, given how little yield is available elsewhere in the world. Yields on German Bunds are now negative out to eight years.

She wondered what public outreach activities were to be conducted in place of guided tours, how the Secretariat had quantified the educational benefits derived from visitors and what value had been accorded to those benefits in the feasibility study.

An additional criterion is a ratio of present value of debt to government revenue of 280 per cent (together with additional conditions related to a ratio of government revenue to gross domestic product (GDP) of 20 per cent and a ratio of exports to GDP of 40 per cent).

Four quotations were received by the Registry, as follows

(a) Proceeds derived from an offence established in article(s) ___ alternatively from an offence covered by this Convention or property the value of which corresponds to that of such proceeds

The funding gap for the regular budget would have been 12.1 million if the exchange rate gains and the interest income were excluded from the total income.

After adjustment by the United States consumer price index, the real rates of return for the years ended 31 March 1997 and 31 March 1998 were 5.9 per cent and 18.9 per cent, respectively.

No provision is made for amortization of premiums or discounts, which are taken into account as part of the gain or loss when the investments mature

Proposals have been received and the technical and cost evaluations are ongoing.

With the price level falling and the population aging, the Japanese consider the real return attractive. As long as US banks can borrow at near zero and buy government bonds without having to commit equity, and the dollar does not depreciate against the renminbi, interest rates on US government bonds may well be heading in the same direction.

The real reason why Japanese interest rates are so low is that Japan s private sector has little appetite for investing abroad and prefers ten year government bonds at 1 to cash at 0 . With the price level falling and the population aging, the Japanese consider the real return attractive.

Externalities, issues of common access and the public goods nature of certain important forest benefits mean that forests do not generate revenues that reflect their full value.

These allocation decisions are understandable, given the paltry yields available in fixed income investments, but the resulting second order impact could ultimately prove devastating.

Moreover, the report criticized the trade agreement between Israel and the Palestinian Authority, and failed to mention its many positive aspects from which the Palestinians benefit, such as price stability and efficient collection of taxes and VAT.

In some reports, however, it is noted that poor financial returns from forests can threaten the capacity to manage them in regard to other benefits.

The gain of 6.9 million consists of a net realized gain of 6.2 million from contributions, a net unrealized loss of 4.5 million from the revaluation of cash, contributions receivable, accounts receivable and accounts payable during and at the end of the year, and a realized gain of 5.2 million from transactions that were settled during the year in accordance with the operational rates of exchange in effect at the date of the transaction.