Haven’t written in a while …


Have taken quite a hiatus from blogging, will begin soon with an article delineating the recent upsurge in storms and what the entire US Gov’t and Trump Administration, alike –  are doing to resolve issues in terms of evacuation plans, funding, support, etc. Should be interesting ….

Advertisements

Surging Oil Demand in India


The increase in demand for oil gives credence to the fact India’s economy is growing at a rapid pace.  Oil product consumption in India expanded at the fastest pace in a decade in October as petrol prices fell amid a global commodity slump. “There is no doubt of a pickup in the economy, and that’s fueling India’s oil demand,” said Amrita Sen, a London-based analyst with Energy Aspects Ltd. who holds an economics degree from Cambridge University. “This is a clear indication that India’s middle class is going out and spending.” The economy is growing at a rate of greater than 7%, according the Economist reports. This is a clear sign of bigger things to come and that the economy is picking up steam quickly.

OIl

Oil consumption in October grew at the fastest pace in a decade!

Oil imports are set to rise to an estimated 90% by the year 2040, from a present 70%, as domestic energy consumption rises according to International Energy Agency [IEA]. This is a strong indicator of where the country is headed in terms of economic growth and developments, as oil is a strong indicator of wealth and affluence. With this increase in demand, India will be pinned as the second biggest oil importer only behind China, making it a major contributor in world energy demand in the next 25 years. Plans are being made to import more of the country’s oil from Middle East and parts of Latin America. Continue reading

Microcredit: A close look (including Kiva)


“To look forward and not back, to look out and not in, and to lend a hand.” -Edward Everett Hale

Build a life.

Building a life.

Lending money to the poor is considered by well off banks to be a risky bet and sometimes quite fanatical if done too extravagantly. The whole mentality of these banks is that lending to the poor is very unreliable, and the assumption holds that the odds of repayment are quite slim. The poor don’t have any credit history, employment records, or a definite financial means to let the bank know that it can trust them with it’s money.  How can people who are much less fortunate than us strive to run a business that they so ardently want to bring up, or finance an institution that has the potential to bring wonders to a community? Well, the solution is microcredit.

20 years ago,  professor Muhammed Yunus who taught economics at a school, decided that what he was doing wasn’t working. With an altruistic heart that he so willfully possesses, he took $26 and made his first loan to a woman making bamboo furniture. The smile and joy with which the woman received the loan struck a cord in Yunus’s mind and with no urge to stop, he lent more.

He found that repayment rates are suprisingly high since first time entrepreneurs know that they will not receive further funds if they default, and that in small social communities there is a psychological pressure to repay.

With this in mind, Muhammed went all over lending to people in villages and small towns in Bangladesh who don’t have enough to make by and follow pursuits in their businesses. Soon, microlending was born and the practice took hold pretty quickly. Today, his not-for-profit Grameen Bank has started many ‘village banks’ that lend to millions of unfortunate souls in Bangladesh to help them lead the lives they want to live.

Grameen Bank’s motto: “The less you have, the more eligible you are.”

Today, other countries have taken up this scheme and have implemented it in their constitution. Parts of South America, such as Brazil, have lent to 46,000 small business to help them set the right foot forward and form a strong base to grow forward on. It is also burgeoning in Africa and Asia.

Africa-Microcredit

There is a bit of globalization at play here, as countries and even foundations as big as the World Bank put there hands together to support one cause.

 How you can make a difference!

Kiva Foundation

Kiva Foundation

Today, even you can help out. Go to http://www.kiva.org/home (Kiva non-proft organization) and donate out a minimum $25 loan to help make a dream come true. Your proceeds, put together with many others, can help people run successful small businesses, set up health and educational institutions, and fulfil other delayed ventures. Plus there is a 97% chance that you will get your loan fully repayed in installments. Once repaid, lend the same $25 out again and help out even more! Always remember:

“Give a man a fish, he’ll eat for a day. Give a woman microcredit, she, her husband, her children and her extended family will eat for a lifetime.” – Bono

Mercedes Benz guilty of price-fixing by Chinese


Daimler’s Mercedes Benz  are being put under the radar by Chinese authorities for manipulating prices for after-sale services, like parts and maintenance, in a bid to stifle their competitors. This is going against anti-trust policies and are causing other businesses to suffer. This is not ethical business, at least from what China’s government makes out of it.

Mercedes Benz showroom in Mosman at Lower North Shore, Sydney.

Mercedes Benz showroom in Mosman at Lower North Shore, Sydney.

The Xinhua report said the cost of replacing all the spare parts in a Mercedes-Benz C-Class could be 12 times more than buying a new vehicle, citing a report from the China Automotive Maintenance and Repair Trade Association.

Reuters

Not only Mercedes Benz, but also other automakers like BMW [BMW.DE] , Audi [NSU.F], and Toyota [TM] have been given a red flag for pushing prices in ways that are unwarranted and can cause other companies to lose profits.

From London: In 2008, many milk companies and dairy product businesses were found to be price-fixing.