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The Kerala perspective about ASEAN FTA !

Why does Kerala dread the Indo-Asean FTA ? Reasons are many.

Kerala Govt had asked the Centre to put 1400 items under the Negative List. Only 489 items have been now included in the Negative List.

The import tax on Kerala’s products like coffee, tea, rubber, copra, coconut, coir, cashew, pepper, cardamon, coconut oil etc will have to be brought down to 50% or less by 2019. Import tax for Palm Oil has to be brought down to 40%.

After 2005, import tax is cent percent for tea and coffee. It is 70% for pepper and 90% for Palm Oil. When import tax on these items comes down to 40%, the backbone of Kerala economy will be threatened.

The Left and Saffron parties are against the Congress Govt signing the deal. They are going to start movements against the deal.

There are 3.6 lk workers working in the coir sector and 2.5 lk in the cashew sector. This year’s cashew exports are 1500 crores. All these will be affected as the pact comes into effect from Jan 1, 2010.

The lowering of import tax on fish products and coconuts will affect the 1 million labourers working in the fisheries sector and 35 lk farmers in the coconut sector will also be affected.

While this is the Kerala perspective, the Center begs to differ saying that the pact may be a big challenge but it is a great opportunity. The Centre points out that India’s bilateral trade had gone to $ 37 b with ASEAN and $80 b with EAS ( East Asia Summit ) countries.

EAS countries are 16. Six more countries added to the ten ASEAN member nations – China, Japan, New Zealand, Australia, S Korea and India !

Jupiter will be in Aquarius, in India’s Eighth House, the House of Hindrances, when this pact becomes operational.

Let us hope that, after the initial hurdles, India will capture the one trillion dollar ASEAN market !

Article by Govind Kumar, astro scholar, writer and academician of . His Google+ Profile is and Youtube url

Nobel Prize for economics 2012

The Nobel Prize in economics was given to lvin E. Roth of Harvard University and Lloyd Shapley of UCLA for their work in market design and matching theory. The award was announced by the Royal Swedish Academy of Sciences on Monday.

According to interpretation of the academy the work of American scientists, Roth and Shapley, focuses on finding the most efficient way to match parties in a transaction, which can be applied and considered on different issues whether it is students to schools or organ donors to recipients, the theory is supposed to work efficiently. In their conjoin work Shapley used game theory with the purpose to study matching models, when Roth built on them to make some real-world changes markets which exist. Those markets included school choice and organ transplants where the theory has been already used.

If to be more specific, some elements of the work have been already built into the software that guides such an important issue as kidney donations in the United States; as well as some elements have been already applied in some school choice models in New York, Boston, New Orleans and other U.S. cities. All that facts were mentioned by Roth during the interview on Monday. Roth also told to reporters that he had been awakened by an early morning call and informed about their win. According the words of the laureate he was not expecting the prize at all but he was honored so much to share it with Shapley. He also added joking, “I’m sure when I go to the class this morning my students will pay more attention.”

The prize in Economics is the sixth and final of the annual awards that usually spotlight the top scholars and peacemakers of the World. But the economics award didn’t used to be among the original prizes created in 1895 by Swedish industrialist Alfred Nobel. Then just works in physics, medicine, chemistry, literature and peace were honored. The economics category was added by the Swedish central bank in memory of the industrialist. Thus economics awards has been given just since 1969.

This year the monetary award that accompanies the Nobel Prize was lowered by the foundation. The amount is 20% less. If last year it was 10 million Swedish kronor ($1.5 million), this year 8 million kronor ($1.2 million) accompanies the Prize which is because of the turbulence that hit the number of financial markets.

Before the economics selection, the Nobel Peace Prize was awarded to the European Union which really surprised European society. It even made some Italian and Greek demonstrators walk out on the streets to protest austerity measures as well as the decision of the Royal Swedish Academy of Sciences. Despite the financial crisis that threatens to break the EU apart, the 27-nation union got the award for its practice and efforts in promoting democracy and reconciliation following World War II, even as it grapples with a financial crisis that threatens to break the EU apart.

APEC Foreign Ministers Discourage Protectionism

Foreign ministers at the Asia Pacific Economic Cooperation forum say they want to discourage trade protectionism. Business leaders at the gathering endorsed that idea and urged more open trade and investment to sustain the global economic recovery. sp;

Singapore Minister for Foreign Affairs George Yeo gestures as he addresses APEC symposium, 10 Nov 2009

Singapore’s Foreign Minister George Yeo says during informal discussions, APEC foreign ministers touched on the financial crisis, economic coordination, and financial reforms. But he says the most important topic on the table was resisting trade protectionism.

“There’s creeping protectionism now,” he said. “That is very dangerous. It is a slippery slope. And, [if] we’re not careful, before we know it all of us will be in a much more dire situation.”

U.S. Secretary of State Hillary Clinton on Wednesday said the foreign ministers also discussed the importance of expanding trade and making it more sustainable and inclusive.

Representatives from the Asia-Pacific business community called on APEC economies to further open trade and investment and resist the urge to erect trade barriers.

The APEC Business Advisory Council says the greatest concerns are that rising unemployment and weak demand could lead some governments to introduce protectionist measures and subsidies that distort trade.

Teng Theng Dar is the council’s chairman. He says Asia-Pacific businesses want to see a conclusion next year to the Doha round of world trade negotiations, which have been stalled for more than seven years.

“This is a time where [the] business community looks for specific concrete moves by the government so that we are able to build confidence and bring confidence back to the system and at the same time we’ll be able to help promote more trade and investment,” Teng said. “Trade and investment are key to the recovery of the economy.”

The business council says it is also time for start work on setting a timeline for establishing an APEC free trade agreement.

Secretary Clinton says foreign ministers also talked about security issues, including North Korea’s nuclear program and the new U.S. policy of dialogue with Burma’s military government.

APEC national leaders, including President Barack Obama, will be in Singapore for their annual summit on Sunday.

Mr. Obama is on his first trip to Asia as president and will hold the first U.S. summit with leaders of the Association of Southeast Asian Nations on the sidelines of the APEC meetings.

APEC is made up of 21 Pacific Rim economies, which account for about half of world trade.

Major Uk Payday Loan Lender Taken Over By An American Corporation

Bury St Edmunds based Fortress, founded in 2004, continues to grow fast to turn into considered one of the UKs major cash advance lending businesses. Fortress is an fully online loan provider, and was set up with very best of breed IT techniques and compliance processes to let it to be scalable. It is growing rapidly since creation and a current review found it to be one of the leading five players in the industry. Fortress, which sells under the brand name 1 Month Loan offers quick unsecured loans to private individuals generally known as payday loans as they are designed to be paid back on payday. Such lending products have higher interest rates but their expense compares more positively to unauthorized overdraft facilities and they are a great deal easier to obtain than bank funding. For the consumers they are easy and confidential.

The business, which works totally online and sells under the name “1 Month Loan”, was launched in Cambridge in 2004 but moved in 2009 to Bury, where it presently employs about 50 men and women. The value of Think Finance’s purchase is not being disclosed, but Fortress chief executive Kieran Moulden claimed that, as a consequence of the new finance, the corporation planned to increase its internet business 10-fold, and increase its labourforce to between 150 and 200 over the next two years. These work opportunities would all be primarily based in Bury, he added, with the village having been determined in 2009 as an great place for growth and there being no plans to move or start offices in a different place as a consequence of the company’s purchase.

Payday credit is a mature industry in the Usa without a doubt there are a lot more payday lending shops than there are branches of McDonalds. The UNITED KINGDOM market is less developed but rising swiftly and is attractive to US acquirers as shown by the new arrangement by NASDAQ listed Dollar Financial Corp to purchase Purpose UK Holding the biggest UK payday lender for ?124M

Think Finance is certainly one of the USs best growing non-public businesses with three year profit growth of over 70% . Think Finance delivers revolutionary financial solutions which supply under-banked consumers with superior solutions for their financial demands mixing comfort, affordability, and transparency. Set up in 2001, Think Finance has served over 1 million buyers. The firm is privately held and backed by some of Silicon Valleys most respectable venture capital corporations, which includes Sequoia Capital and Technology Crossover Ventures. Think Finance will offer capital to support Fortresss enlargement. All of the Fortress Directors will remain with the company to direct its development.

Asia Pacific Refining Industry – Market Analysis, Capacity Forecasts and Competitive Landscape to 2

Asia Pacific Refining Industry – Market Analysis, Capacity Forecasts and Competitive Landscape to 2015

Summary

-Asia Pacific Refining Industry – Market Analysis, Capacity Forecasts and Competitive Landscape to 2015- is an essential source for top-level energy industry information and analyses on the refining industry in Asia Pacific. The report provides information on refinery product types and future refining trends. The research covers the Asia Pacific refining market with information on historical and forecast capacities of refineries by region and key countries during the period 2000-2015. Leading companies in the Asia Pacific refining industry and their investment opportunities and challenges have been examined in the report.

Scope

The report provides a detailed analysis of the market scenario, capacity trends and competition in the refining industry in Asia-Pacific. It provides – Detailed information and analysis on refining capacities by key countries, upcoming refineries and capacity expansions, market shares of key companies and competitive scenario in the Asia-Pacific refining market to 2015. – Asia-Pacific refining industry growth, capacity additions through new and existing refineries, and key refining industry trends, drivers and challenges are covered in the report – Information on capacity by refinery (2000-2015), competitive overview (2009) in eight major markets across Asia-Pacific, including China, Japan, India, Republic of Korea, Taiwan, Singapore, Indonesia and Pakistan. – Information on refining capacities (2000-2015), planned and active refineries directly owned (2000-2015) by the top five refiners in Asia-Pacific, including China Petroleum & Chemical Corporation, Petrochina Company Ltd., Nippon Oil Corporation, SK Energy Co., Ltd. and PT Pertamina.

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Factoring How Small Businesses Can Manage Tough Economic Times

The economic circumstances during this last year of 2009 has been is very tough for small business owners, so these times call for creative solutions to help a small business run smoothly. In order to sustain and grow businesses need some cash on hand. And when outstanding invoices stack up, single invoice factoring , also known as spot factoring, is one tactic that many companies have discovered can help them get by.

Factoring is one of the oldest and most widely used forms of funding for businesses. Standard invoice factoring has been around for about 4,000 years, but now there are a number of innovative new factoring solutions especially for small businesses who find it difficult to attract conventional funding. Single invoice factoring, or spot factoring, enables companies to get short-term working capital and improve cash flow and grow their businesses

Since most companies do not get paid immediately for delivered products or services, spot factoring benefits businesses that do not get paid for 30, 60 or 90 days by advancing up to 90 percent against the company’s invoices. A factoring company like The Interface Financial Group (IFG) purchases selected invoices at a discount. Spot factoring companies first typically look at the creditworthiness of the client’s customers. They can often fund within as little as 24 hours, and they do not expect to buy 100 percent of a company’s receivables, so there are no minimum or maximum sales volume requirements.
Most factoring companies have professional rates that are competitive. Each and every client’s circumstances will vary and so this may have an impact on the fees that are charged. Each invoice purchase is a separate transaction and does not form part of a portfolio lending approach. The transaction is modeled as a buy-sell transaction. Spot factoring service companies are user friendly, flexible, cost effective, and most of all, fast. If a client chooses to offer further invoices to the invoice factoring company, the total transaction time is often reduced to just up to eight hours.

Here are the specific details about how IFGs single invoice factoring works. IFG will undertake a due diligence that often takes one to two business days. Once this step has been completed the client is at liberty to offer invoices for purchase. Upon receipt of the invoices, the spot factoring company will check the credit of each debtor named on the invoices provided. They make sure that the sale represented has been satisfactorily completed. After this has been accomplished, the debtor is advised of the purchase of the invoice by the spot factoring company, and the client receives their funding.

At the end of the credit period the debtor will then pay the spot factoring company directly, completing the transaction.

For more information on factoring , call The Interface Financial Group (IFG) at 877.210.9748.

How Can A Logistics Service Support Your Corporation

Lets face it, a sinking economy, soaring diesel prices & having to compete against manufacturers that are manufacturing in China means certain disaster for US manufacturers, unless they wake up and do something completely different.

Smart businesses comprehend that they need to do something completely different if they are going to remain competitive, or hope to survive this bloodbath.

Pay close attention to this pearl of wisdom from a very wise man. Einstein once uttered, the definition of insanity is to do the same thing over and over and expect a different result. To state it plainlyDoing business as usual is a sure fire way to find your corporation filing for bankruptcy protection in this recession.

What is a U.S. firm to do?

What if there was a way to grow revenues, boost cash flow, limit inefficiencies and reorganize your employee ability to where it could be better utilized, all without sacrificing quality, service or performance.

Impossible you say?

Believe it or not Fortune 500 companies have been stealthily taking advantage of this overlooked goldmine for decades. What is their secret?

The answer is to think Logistically.

Did you ever hear of the term logistics company?

Imagine if you will that you have a team of highly skilled transportation specialists ready to do what ever you asked. But you might be thinking, That is exactly what I have now.

I understand what you are saying, but pretend having that same skilled group but only having to pay them if they save you money on your freight and shipping expenditures In other words, if your transportation team did not find ways to cut costs that month– then you pay them absolutely nothing.

Now what does that do to your transportation cost equation? It presents a golden opportunity for your business. A 3pl is only paid on a percentage basis of the money saved for the month. Now you know why you can count on a 3pl to look out after your best interests.

How Much Money Could A Logistics Company Potentially Save Me?

Were you aware that the average company saves approximately 34% on their shipping costs after teaming up with a logistics firm?
Think for a moment how much you currently spend on truckloads & LTL freight. Maybe you are only spending $10,000 a year on LTL and truckload. By the end of the year that adds up to $120k spent on freight. What if you could recoup 34% of that and put $ 40,000 into your pocket? Dont forget that is only hard dollar savings so far. We have not even address the soft dollar savings from outsourcing personnel & cutting inefficiencies.

So tell me, what are you going to do with your windfall that comes from choosing to deal with a logistics company?

Get back on your feet with Government Grants

Are finances proving to be a road block on your way to career success? Well then you are in the same boat as thousands of others. No more do people need to give up on their dreams due to money constraints. With the availability of government grants for most human needs, individuals can now avail of financial help to get them through a bad phase and back on their feet. Education is an important criterion that has a significant impact on all aspects of our lives. Without a proper education it is difficult to have a successful career. However most people choose to opt out of a higher education degree due to limited resources. The government offers various resources such as the Pell grants or Stafford loans that enable people to materialize their dreams of having a Bachelors or a Master’s degree. Besides education most people also cherish the dream of having their own home. To maintain your home for a long time is a lot tougher than building it and often people are unable to gather the finances required to maintain a home for a long period of time. The government provides aids like Utility bill assistance to get individuals out of a tough spot and back on their feet.

Money is an important part of our daily lives. Without adequate financial resources it is impossible for individuals to lead a comfortable lifestyle and meet even their daily requirements. Whether it’s for basic amenities or for greater needs like education or business, money is an important aspect which can never be replaced. People often give up on some of their biggest dreams due to lack of funding. This can be avoided with the aid of Gov grants that allow you to pursue your dreams without worrying about finances. Applying for federal grants is not a monumental feat and can easily be achieved by people. Online websites by the United States government allows individuals to fill in a simple grant application and get started on the process of receiving their grants. The government understands the importance of giving leverage to certain sections of society and hence it has created business grants for women to give them an upper edge in the society and help them pursue their dream. Education too is one of the main concerns of the government and they provide various college grants to enable individuals to secure a solid foundation of education that will help them have a strong and successful career. r.

Disaster Recovery Planning For Corporations

Disaster recovery planning for corporations is an essential piece of any successful large business operation. The energy and growth put into a corporation is immense, and it’s important to protect this investment and its resources. Large numbers of clients and customers depend on you, as do your employees, and a proper IT continuity plan can keep you safe as you continue to grow.

IT Considerations for Corporations

Corporations tend to be larger businesses, a size which has its pros and cons. The positive side is that they tend to have a good deal of cash and resources to get them through lean times, as well as an extensive management team with the skills to persevere in times of adversity. The downside is that because of these resources and skill sets, they can get overconfident and not properly think through their recovery plan. They also have to make those resources stretch farther to meet the greater needs of a corporation. It’s not enough to have the ability to withstand disaster. Mitigating it and getting up and running as soon as possible are what save your bottom line.

While your corporation may have a disaster recovery plan in place, one thing that is rarely discussed is having a power backup. In the event of a natural disaster, you could be without power for days, which will utterly shut your business down. No matter how well you have planned for data recovery and for reinstalling critical software, if you have no power, you have no computers. Your network is vital to running your business, so having a separate power source that can generate electricity to run your systems is a great idea. All you have to do is make sure it’s maintained and ready to go, and it will be there when you need it.

In a large business, small changes can have a larger impact on the company for the money than in a small business. A tweak of security here and there or a review of network protocol by experienced IT consultants is a minimal cost to a large business. All the same, this small investment can reap great rewards for a large corporation. A corporation’s disaster recovery planning needs are extensive and intricate, and a team of security professionals are the people best equipped to handle it.

Disaster recovery planning for corporations is a large undertaking because the risks and rewards are also so great. Their sheer size requires an extensive plan, even though they often have the resources to survive if business is shut down in the short term. All the same, getting back up and running is best for the corporation as a whole, and proper planning, security experts, and a simple backup generator can help make this happen.

What Is Economics

It never fails that when I ask people to describe the field of economics, the typical response is that it is the study of money or how to earn money. Moreover an ever increasing number of people regard economics as a form of politics or perhaps political science. Grading on the simple pass/fail basis all would of course fail.

Economics is mistaken for finance by some and politics by others. The later tends to sting a bit. Nevertheless, perhaps the confusion is understandable. After all economics must by necessity address matters common to both areas of understanding. Such has been the case since inception. Be that as it may the fact remains that, economics is best described as the study of human behaviour.

-What?- you say. -What about money, debts, saving, budgets?- Well economics certainly involves all those things and economists have been known to go on for hours on the pros and cons of public policy decisions. But at its core economics is the study of how flesh and blood human beings (not abstractions thereof) and the institutions they engender actually respond to various types and degrees of stimuli. Economics addresses financial implications without addressing the organization of financial data which is best suited to financial experts. Economics addresses the incentives and/or disincentives resulting from public policy and not necessarily the policies themselves which is best suited to politicians. Hence the economist focuses not so much on the tax rate as on the manner in which said rate affects human behaviour which in turn has a direct even if long term effect on the overall state of social institutions. Most importantly, economics answers the ever-ellusive -Why?- Why does an increase in demand drive prices higher? Why does welfare (corporate and social) incentivize licentiousness on the part of the recipient? Why do even good ideas generate diminishing returns over time? Why do certain policies produce results at odd with the intensions of those who author them? Why?, Why?, Why?, ad nauseum.

The problem is not that the confusion exists. Rather it is the fact that it causes the layperson to misconstrue economic laws for political rhetoric. This is particularly problematic when one is confronted with Austrian Economics for the -Austrian- is always deemed to be championing the political views of a specific politician and/or political party.

How to correct the problem? Well, I’ll leave that to the social theorists. I’m only an economist.