What Is a Middle-Income Country? (MIC) According to the World Bank, middle-income countries (MICs) are defined as economies with a gross national income (GNI) per capita between $1,036 and $12,535. MICs are one of the income categories that the World Bank uses to classify economies for operational and analytical purposes. Key Takeaways Middle-income countries are
What Is the Middle Office? The middle office is the department in a financial services company, investment bank, or hedge fund that sits in between the front and back office. It typically manages risk and calculates profits and losses. It is generally in charge of information technology (IT) as well. Key Takeaways The middle office tracks
What Is the Middle Rate? In foreign exchange or forex markets, the middle rate, also called the mid and mid-market rate, is the exchange rate between a currency’s bid and ask rates. Key Takeaways The middle rate is the exchange rate halfway between a currency’s bid and ask rates.The middle rate is calculated using the
What Is Midstream? Midstream is a term used to describe one of the three major stages of oil and gas industry operations. Midstream activities include the processing, storing, transporting and marketing of oil, natural gas, and natural gas liquids. The two other major stages are upstream, which refers to raw crude oil and natural gas
What Is a Mid-Cap Value Stock? A mid-cap value stock has been identified by industry analysts as a good choice for value investors at its current price per share. Mid-cap indicates that it is a moderate-sized company in terms of its total market capitalization. Key Takeaways Mid-cap value stocks have been identified as potential good
What Is the Markets in Financial Instruments Directive (MiFID)? The Markets in Financial Instruments Directive (MiFID) is a European regulation that increases the transparency across the European Union’s financial markets and standardizes the regulatory disclosures required for firms operating in the European Union. MiFID implemented new measures, such as pre- and post-trade transparency requirements, and set out the standards of conduct to be
What Is the Mumbai Interbank Forward Offer Rate (MIFOR)? The term Mumbai Interbank Forward Offer Rate (MIFOR) refers to a benchmark rate used by commercial banks for certain financial contracts in India. MIFOR is used for setting prices on forward-rate agreements and derivatives. It is a mix of the London Interbank Offered Rate (LIBOR) and
What Is the Milan Stock Exchange (MIL)? Milan Stock Exchange (MIL) is Italy’s only stock exchange. The exchange is located in Milan and is known in Italian as the Borsa Italiana. The exchange features a list of prominent Italian listed brands and also serves as a place where investors can trade a variety of securities
What Is the Mileage Allowance? Mileage allowance is a term the Internal Revenue Service (IRS) uses to refer to the deductibility of expenses car owners accrue while operating a personal vehicle for business, medical, charity, or moving purposes. For 2021, the IRS suggests deducting $0.56 per mile for business use, $0.14 for charity use, and $0.16 for certain medical
Millennial is the name given to the generation born from 1981 to 1996, dates now clarified by the Pew Research Center, although some have seen them as starting in 1980 and being born as late as 2004. Also known as Generation Y (Gen Y), the millennial generation follows Generation X (Gen X). In terms of numbers, it
