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 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
The Virgin Story
Richard Branson was a talented individual from his childhood. People looked at him as a role model and looked up to his huge success in business and life. Virgin Group was his creation and it is one of the most well known companies today. Many people would think that Richard was a scholar in school, but he wasn’t. Ironically, Richard was terrible at school and this was partly because of his dyslexic condition. Richard didn’t like school, but what he did like was business.
Richard as a boy.
Richard’s first business plan
When Richard was 11, he wrote his first business plan. He decided to plant trees and wait a few years until they had fully grown in order to sell them. Unfortunately, the business had failed due to rabbits that ate the seeds. Richard was very intuitive and one of the reasons was that his family was always there to support his endeavors. Most families would not have allowed their 11-year old son to plant trees on their own land, but Richard’s did and they encouraged Richard to follow his passion. Without his family’s support, he would not be where he is today. Continue reading
Richard Branson was a talented individual from his childhood. People looked at him as a role model and looked up to his huge success in business and life. Virgin Group was his creation and it is one of the most well known companies today. Many people would think that Richard was a scholar in school, but he wasn’t. Ironically, Richard was terrible at school and this was partly because of his dyslexic condition. Richard didn’t like school, but what he did like was business. Continue reading
Facebook (FB) piled a huge amount of data on investor’s lap this past week in the wake of its quarterly earning results. What presented a huge qualm to investors all over was that FB offered no financial forecasts for boosting potential advertising. This sent the stock ailing to a all-time record low of $24, from a haphazardly executed IPO price of $38 in May. Foreshadowing this slipshod of an IPO, FB saw break-neck growth in the double to triple figure category. At the time everyone looked up with glee at the dawning of the tech companies IPO, but we see all hope is slowly turning gloomy. Behemoth funds, such as Fidelity, saw their investment shed by a huge amount – nearly $106 million in losses. Continue reading