I have opted for Israel as the country of interest for the International Business subject for term V. My organization is head quartered in Melville, New York but the R&D is based in Israel.
I am opting for Saudi Arabia. I would provide inputs for Aramco
Saudi Aramco, the state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System.
Sharing with you a report to which I subscribe. This report is prepared by Cushman & Wakefield, a leading International Property Consultant.
Despite the US Administration’s rescue plan aimed at stabilizing US financial services markets passed on October 3, countries and institutions around the world are feeling the impact of this unprecedented crisis, and are scrambling to apply solutions.
Recent events have amounted to the greatest financial crisis that world economies have experienced since the 1929-30 period that triggered the Great Depression. The financial landscape has been remade, with governments in the US and many other countries now more directly involved in the financial system than at any time since the depression. Eventually new policies and the consolidation of the financial sector will lead to economic recovery. But that is not likely before the first half of 2009.
Until then, expect the current recession to worsen, more jobs to be lost and the real estate market to weaken. Cities and regions that have a high concentration of financial firms will feel greater downward pressure than those with broader industry concentrations, but no region is likely to emerge from the current downturn unscathed.
As 2008 has unfolded, the economic stress has been spreading around the globe. In a bid to stem the financial crisis, European governments are introducing emergency measures to guarantee personal bank deposits and rescue large insititutions. In Asia, a combination of financial uncertainty, declining demand from the US and the end of spending for the Olympic Games is causing growth to slow from super strong to merely strong. While the impacts vary, no region is completely immune from the effects of financial stress and the US recession.
Economic Backdrop
How did we get here? Why did the financial system suddenly collapse? The short answer is, financial firms assumed values would continue going up and they made loans on that basis. When the reversal started to happen, eventually it caused loans to default, security prices to fall and balance sheets to erode. • Behind all of the trouble was the housing sector. The US housing sector experienced an unprecedented era of growth from 1992 to 2005 that saw prices climb and the number of home sales increase to break one record after another. Lenders acted as if home prices would rise forever and high levels of sales would be the norm. They began to offer mortgages to less creditworthy borrowers because the market looked secure and because they could rapidly sell the mortgages to investors who seemed to have an endless appetite for these instruments. • In 2005 conditions began to change as home sales peaked and began to decline. This led to greater and greater risk taking by lenders whose numbers had grown dramatically and who sought to maintain their income flow. Mortgages were offered to borrowers of questionable credit worthiness. By mid 2007 the whole process came unglued as defaults on those loans soared and the securities that were issued using the loans as backing declined in value. Lenders became reluctant to part with their capital and the credit markets began to freeze up, as investors began to question the integrity of the entire securitization process. These events triggered a recession that many believe began in late 2007 and continues today. Employment, income, sales and production are all declining and the second half of 2008 is likely to be worse than the first half. • Nonfarm payrolls in the US have fallen by 760,000 jobs since the end of 2007 and the pace of decline is likely to accelerate in the months ahead. New claims for unemployment benefits, a key leading indicator of total employment, have been climbing this year and now stand at 474,000 (on a four-week moving average basis), the highest level since the end of 2001, at the end of the last recession. The high level of claims indicates that labor markets are weak and the pace of job loss will accelerate from the roughly 84,000 per month recorded in the first nine months of the year. • Consumers are stressed. High oil prices have led to high gas prices and could lead to a substantial increase in heating bills this winter. The amount consumers spend on energy is currently at an all time high and, relative to income, it is at the highest level since 1984. At the same time the values of their homes are falling and employment is declining. It’s no surprise in this environment that consumer spending is declining. After an increase stimulated by tax rebate checks, consumer spending fell in June and July, and was flat in August. Further declines are likely. One key indicator of consumer spending, motor vehicle sales, are currently at the lowest level since 1991. All this of course was happening before the crisis was ratcheted up several notches with the dramatic mergers, bailouts, buyouts and bankruptcies of September. Now, credit in the economy has been severely curtailed and activity is likely to slow even further.
However, while the immediate situation will be difficult, the financial supports set in motion by the US Federal Reserve, Treasury and Congress are expected to help get the worst of the problem debts out of the system, and permit lenders to begin lending again. Cushman & Wakefield is confident that credit availability will improve in the months ahead, especially in 2009.
Moving Forward
With the programs in place and the financial sector beginning to address their problems, the question is not if there will be a return to growth, but when. As has been the case throughout this cycle, the key will be the housing sector. One way to look at housing affordability is the price of a new home relative to per capita income. Currently, that ratio has fallen substantially and is below its 30-year average. When the ratio is below average, it is generally consistent with a bottom in the market, although there is always the possibility of further declines. A factor working against recovery however is demand. With a glut of housing stock on the market, there will simply not be enough buyers to restore balance to the sector for some time, especially with more rigorous mortgage qualification standards, declining employment and reduced spending in general.
Employment also needs to stabilize, which is not expected to happen until the first half of 2009. The decline in activity will eventually be halted as consumers begin to increase spending, gradually leading to greater demand and ultimately the creation of jobs.
The combination of a housing bottom and higher employment will eventually create conditions for a return to more normal financial markets. As housing stabilizes, financial institutions will have a greater understanding of the value of many of the securities written against home mortgages. That will further assist in the clean up of balance sheets, made possible to a great extent by the government financial aid. If prices increase, the government may actually make a profit on these investments, as it did in the 1980s when a safety net was thrown to Chrysler Corporation. Of course, the hope is that the economy will get back on track and credit will become more readily available.
Real Estate Implications
The real estate industry will be negatively impacted by the combination of declining employment and tight credit. Already, many cities are experiencing vacancy rate increases and rents are coming under pressure. As employment falls, these trends are likely to continue in the coming year. Nationally CBD rents increased 43% in the 2005-2008 period. Over the next two or more years, we are likely to see rents decline in most CBDs. In the last real estate downturn, which lasted from 2001-2004 national average Class-A CBD rents fell 19%. Another decline in the 15% to 25% range nationally is quite possible. Vacancy rates are likely to increase substantially. The national CBD vacancy rate bottomed at 9.7% at the end of 2007 and has increased slightly this year. As employment falls, sublease space will come back to the market and vacancies will inevitably increase. We would not be surprised to see the national CBD vacancy rate top 15% before the current cycle ends. Of course, not all cities will be affected the same. Cities with a high concentration of financial services firms will likely suffer greater job loss, along with related vacancy rate increases and rental declines. Cities that have a high concentration of energy-related employment such as Houston and Denver will likely feel less pressure. But no city or product type is likely to emerge unscathed. With the recession worsening and consumer spending falling, a wide range of industries will be impacted, from business services to retail to manufacturing and distribution. It follows that these classes of real estate will also come under pressure in the coming year. As rental rates decline and vacancies increase, during a period of tightening credit, investment markets will also come under pressure. Already sales have fallen 70% in volume from a year ago and prices have declined. While it is difficult to get an accurate reading on the investment market because of the small number of transactions, prices are down and cap rates are up, and real estate capital and risk have been fundamentally repriced for the foreseeable future. What impact this will have on long-term allocation to the sector remains to be seen, but in the meantime we expect to see further price adjustment and cap rate increases. The effects are spreading rapidly to other major financial centers around the world. London has already experienced serious upward pressure on vacancy and downward pressure on rents. While it is too soon to quantify the full effects in Europe, EU countries are trending negatively as well. And markets in Asia are likely to feel more stress than they have in years, although this region is best positioned to offset a portion of the weakness from the US with locally-driven demand. There is one important silver lining for US real estate markets. With credit availability limited, speculative construction will be sharply curtailed. Since most markets did not go through a major building boom prior to the economy’s weakening, the supply of new office space will not increase materially in the coming year or two, which will help support recovery. The global economy is going through one of the most difficult periods in its history. The financial stresses of the past month will inevitably make an already difficult economic environment worse, and the next six months or so are likely to be extremely challenging. No industry or sector will be unaffected. The good news is that recent measures have started the necessary process of cleaning up the financial system that will permit the economy to move forward. In that sense this is the beginning of the end of the financial crisis. Of course, in the current dynamic environment conditions can change rapidly depending on unfolding events.
SINGAPORE TRADE FIGURES Performance of Key Trade Components – Aug’08
Total Trade Total trade increased by 10 per cent in August 2008, following the strong expansion of 21 per cent in July 2008. Total exports rose by 7.7 per cent in the month, slowing down from the 15 per cent growth in July 2008. Growth of total imports was at 14 per cent in August 2008, down from the stellar 27 per cent gain in July 2008. Non-oil Domestic Exports (NODX) NODX declined by 14 per cent in August 2008, following the 5.8 per cent fall in the preceding month, resulting from the contraction of both electronic and non-electronic NODX. Oil Domestic Exports Growth of oil domestic exports accelerated to 104 per cent in August 2008, maintaining its spectacular growth of 79 per cent in July 2008. The growth of oil domestic exports was contributed by higher sales to Indonesia (+217 per cent), EU 27 (+249 per cent) and Panama (+109 per cent) in the month. In volume terms, oil domestic exports expanded by 33 per cent in August 2008, faster than the 4.1 per cent rise in the previous month. Non-oil Re-exports (NORX) On a year-on-year basis, non-oil re-exports (NORX) contracted by 0.6 per cent in the month, contrary to the slight 3.9 per cent gain in the preceding month, largely due to declining electronic NORX which outweighed the rise in non-electronic NORX. On a 3MMA year-on-year basis, NORX rose by 1.9 per cent in August 2008, slower than the preceding month’s 5.5 per cent surge.
I am Rahul Chauhan (Roll no. 50) and my project partner is Anuj Dhingra (Roll no. 6). We will work on Foster's Group of Melobourne, Australia for our International Business project.
Arvind Kumar Chaodhary EMP OCT -2007 Roll No - 09 ------------------------------ I have opted UK/London/RBS for my three Cs. I am writing something about RBS today,
RBS has planned to raise as much as £20bn to come out of credit crunch. This is bigger than the expected amoumt by the people.
Of this, £15bn would come in the form of a placing of ordinary shares with the government, with the remainder in the form of preferred shares. Existing RBS shareholders will given an opportunity to buy the shares, but if they do not the government is expected to be left with a controlling stake in the bank. more than 50%.
RBS CEO Sir Fred Goodwin may have to resign if the control goes in the Govt hands. Indian offshore activities might get hampered by this.
RBS had a plan to raise head-count in india IDC by 2500 by 2012, but if the Govt takes control of the compamny this head-count may go down from current 1400 employees.
Ethnic Make-up: Fleming 58%, Walloon 31%, mixed or other 11%
Religions: Roman Catholic 75%, Protestant or other 25%
Government: federal parliamentary democracy under a constitutional monarch
Languages of Belgium
Official Languages of Belgium are French, Dutch and German. Wallon is used by 33% of population. Flemish, the local variant of Dutch, is used by more than 60% of the population, and is spoken in the northern part of the country. The languages learned at school are officially labelled French and Dutch. German, spoken by 1% of population can be found in the cantons in the east of the Wallon region. Brussels, the capital of Belgium, has two official languages: French and Dutch. Luxembourgish is spoken by around 0.5% of the population, but the language has no official status. About 10% of the Belgian population are non-native, and languages spoken include Italian, Spanish, Greek, Arabic and Turkish.
Arvind EMP OCT07 Roll No - 9 ------------------ RBS 60% stake, almost in the hands of UK Govt.
Stephen Hester new CEO.
Govt has imposed tough new dividend policy – imposed by the Treasury during negotiations over the weekend - makes it less likely that existing shareholders in RBS will take the opportunity to buy back some of the ordinary shares that the three banks are placing with the government .
If existing shareholders do not buy back any shares, the government is likely to end up with a controlling stake of around 60 per cent in RBS and 43.5 per cent of the combined Lloyds TSB and HBOS, which are pressing ahead with their merger after revising the terms of the deal.
Royal Bank of Scotland is raising £20bn in a placing of ordinary and preference shares that could leave the government holding a majority stake in Britain’s second-largest bank.
RBS confirmed the departure of Sir Fred Goodwin as chief executive, to be replaced by Stephen Hester, the former banker who is chief executive of British Land. Sir Tom McKillop, RBS’s chairman, is also expected to step down at the bank’s annual meeting in April 2009.
RBS confirmed the departure of Sir Fred Goodwin as chief executive, to be replaced by Stephen Hester, the former banker who is chief executive of British Land. Sir Tom McKillop, RBS’s chairman, is also expected to step down at the bank’s annual meeting in April 2009.
Johnny Cameron, head of RBS’s investment banking operations, will leave the board though he is expected to stay on in a senior client role.
Sir Tom said: ”We regret having to raise capital but believe that decisive action is necessary in this unprecedented market environment.”
RBS said it would raise £15bn by placing ordinary shares at a price of 65.5p – less than a third of the price at which the bank issued shares at the time of its rights issue in April. If shareholders do not take up their rights to new shares, the British government will hold a controlling stake in RBS. The bank said the Treasury would ”work with” the board to appoint three new non-executive directors.
The bank also signalled it would scale back its investment banking operations in order to concentrate on risk management, financing and transaction banking services, while scaling back its capital-intensive businesses.
RBS will also raise £5bn from the government by issuing preference shares which carry a fixed interest payment of 12 per cent. The bank signalled it would not pay any dividends on ordinary shares until the preferred shares have been repaid.
The capital increase will boost RBS’s Tier One capital ratio by around 4 percentage points.
Saudi Arabia is a major Oil Producer in world. Oil Production of Saudi-Arabia is 13% of total world production & 35%of total OPEC production. So Saudi-Arabia is an important member of OPEC which plays a crucial role in deciding crude oil prices. IMP. of Oil Sector for Saudi Economy-73% of Budgetry Revenues of Saudi Arabia came from Oil Sector. But It is unimportnt to Saudi economy in one sense i.e. No. of jobs in this sector.Less than 2% Work force of Saudi Arabia was employed in oil sector according to 1990 servey. Brief Introduction of Saudi ARAMCO This Firm was established in January 1944. Initially its name was-ARAMCO(Arabian-American Oil Company) Four Parteners in this Firm. 1.Standard Oil Company of New Jersey.(Now-Exxon) 2.Socony-Vaccum(Now-Mobil Oil Company) 3.Standard Oil Company of California(Socal) 4.California Arabian Standard Oil Company. In 1968 Minister of Petroleum And Mineral Resources-Ahamad Zaki Yamani,propesed idea of State Ownership Of ARAMCO. Initialy Process to get 25% stake is started in 1972.This 25% stake was effective from 1973. State took 60% stake of the firm in 1974. Arrangements for total Ownership reached in 1976. After Arrangements of Total Ownership reached payment to four parteners completed in 1980. In 1988 Name of the firm Changed to : Saudi Arabian Oil Company.
Introduction Singapore Background: Singapore was founded as a British trading colony in 1819. It joined the Malaysian Federation in 1963 but separated two years later and became independent. Singapore subsequently became one of the world's most prosperous countries with strong international trading links (its port is one of the world's busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations of Western Europe. Geography Singapore Location: Southeastern Asia, islands between Malaysia and Indonesia Geographic coordinates: 1 22 N, 103 48 E Map references: Southeast Asia Area: total: 692.7 sq km land: 682.7 sq km water: 10 sq km Land boundaries: 0 km Coastline: 193 km Maritime claims: territorial sea: 3 nm Climate: tropical; hot, humid, rainy; two distinct monsoon seasons - Northeastern monsoon (December to March) and Southwestern monsoon (June to September); inter-monsoon - frequent afternoon and early evening thunderstorms Terrain: lowland; gently undulating central plateau contains water catchment area and nature preserve Natural resources: fish, deepwater ports Land use: arable land: 1.47% permanent crops: 1.47% other: 97.06% (2005) Natural hazards: NA Environment - current issues: industrial pollution; limited natural fresh water resources; limited land availability presents waste disposal problems; seasonal smoke/haze resulting from forest fires in Indonesia Environment - international agreements: party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution Geography - note: focal point for Southeast Asian sea routes People Singapore Population: 4,608,167 (July 2008 est.) Age structure: 0-14 years: 14.8% (male 353,333/female 329,005) 15-64 years: 76.5% (male 1,717,357/female 1,809,462) 65 years and over: 8.7% (male 177,378/female 221,632) (2008 est.) Median age: total: 38.4 years male: 38 years female: 38.8 years (2008 est.) Population growth rate: 1.135% (2008 est.) Birth rate: 8.99 births/1,000 population (2008 est.) Death rate: 4.53 deaths/1,000 population (2008 est.) Net migration rate: 6.88 migrant(s)/1,000 population (2008 est.) Sex ratio: at birth: 1.08 male(s)/female under 15 years: 1.07 male(s)/female 15-64 years: 0.95 male(s)/female 65 years and over: 0.8 male(s)/female total population: 0.95 male(s)/female (2008 est.) Infant mortality rate: total: 2.3 deaths/1,000 live births male: 2.51 deaths/1,000 live births female: 2.08 deaths/1,000 live births (2008 est.) Life expectancy at birth: total population: 81.89 years male: 79.29 years female: 84.68 years (2008 est.) Total fertility rate: 1.08 children born/woman (2008 est.) HIV/AIDS - adult prevalence rate: 0.2% (2003 est.) HIV/AIDS - people living with HIV/AIDS: 4,100 (2003 est.) HIV/AIDS - deaths: fewer than 200 (2003 est.) Ethnic groups: Chinese 76.8%, Malay 13.9%, Indian 7.9%, other 1.4% (2000 census) Religions: Buddhist 42.5%, Muslim 14.9%, Taoist 8.5%, Hindu 4%, Catholic 4.8%, other Christian 9.8%, other 0.7%, none 14.8% (2000 census) Languages: Mandarin 35%, English 23%, Malay 14.1%, Hokkien 11.4%, Cantonese 5.7%, Teochew 4.9%, Tamil 3.2%, other Chinese dialects 1.8%, other 0.9% (2000 census) Literacy: definition: age 15 and over can read and write total population: 92.5% male: 96.6% female: 88.6% (2000 census) Education expenditures: 3.7% of GDP (2001) Government Singapore Government type: parliamentary republic Capital: name: Singapore geographic coordinates: 1 17 N, 103 51 E time difference: GMT+8 (1 hour ahead of its natural clock) Administrative divisions: none Independence: 9 August 1965 (from Malaysian Federation) National holiday: National Day, 9 August (1965) Constitution: 3 June 1959; amended 1965 (based on preindependence State of Singapore Constitution) Legal system: based on English common law; has not accepted compulsory ICJ jurisdiction Suffrage: 21 years of age; universal and compulsory Executive branch: chief of state: President S R NATHAN (since 1 September 1999) head of government: Prime Minister LEE Hsien Loong (since 12 August 2004); cabinet: appointed by president, responsible to parliament elections: president elected by popular vote for six-year term; appointed on 17 August 2005 (next election to be held by August 2011); Legislative branch: unicameral Parliament (84 seats; members elected by popular vote to serve five-year terms); note - in addition, there are up to nine nominated members; up to three losing opposition candidates who came closest to winning seats may be appointed as "nonconstituency" members elections: last held on 6 May 2006 (next to be held by 2011) election results: percent of vote by party - PAP 66.6%, WP 16.3%, SDA 13%, SDP 4.1%; seats by party - PAP 82, WP 1, SDA 1 Judicial branch: Supreme Court (chief justice is appointed by the president with the advice of the prime minister, other judges are appointed by the president with the advice of the chief justice); Court of Appeals Political parties and leaders: People's Action Party or PAP [LEE Hsien Loong]; Singapore Democratic Alliance or SDA [CHIAM See Tong]; Singapore Democratic Party or SDP [CHEE Soon Juan]; Workers' Party or WP [Sylvia LIM Swee Lian] note: SDA includes Singapore Justice Party or SJP, Singapore National Malay Organization or PKMS, Singapore People's Party or SPP Flag description: two equal horizontal bands of red (top) and white; near the hoist side of the red band, there is a vertical, white crescent (closed portion is toward the hoist side) partially enclosing five white five-pointed stars arranged in a circle Economy Singapore Economy - overview: Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP equal to that of the four largest West European countries. The economy depends heavily on exports, particularly in consumer electronics and information technology products. It was hard hit from 2001-03 by the global recession, by the slump in the technology sector, and by an outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, which curbed tourism and consumer spending. Fiscal stimulus, low interest rates, a surge in exports, and internal flexibility led to vigorous growth in 2004-07 with real GDP growth averaging 7% annually. The government hopes to establish a new growth path that will be less vulnerable to the global demand cycle for information technology products - it has attracted major investments in pharmaceuticals and medical technology production - and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub. GDP (purchasing power parity): $227.1 billion (2007 est.) GDP - real growth rate: 7.7% (2007 est.) GDP - per capita (PPP): $49,900 (2007 est.) GDP - composition by sector: agriculture: 0% industry: 31.2% services: 68.8% (2007 est.) Labor force: 2.751 million (2007 est.) Labor force - by occupation: manufacturing 21%, construction 5%, transportation and communication 7%, financial, business, and other services 42%, other 25% (2006) Unemployment rate: 2.1% (2007 est.) Population below poverty line: NA% Inflation rate (consumer prices): 2.1% (2007 est.) Investment (gross fixed): 24.9% of GDP (2007 est.) Budget: revenues: $27 billion expenditures: $21.5 billion (2007 est.) Public debt: 96.3% of GDP (2007 est.) Agriculture - products: rubber, copra, fruit, orchids, vegetables; poultry, eggs; fish, ornamental fish Industries: electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing and rubber products, processed food and beverages, ship repair, offshore platform construction, life sciences, entrepot trade Industrial production growth rate: 7.4% (2007 est.) Electricity - production: 39.44 billion kWh (2006) Electricity - production by source: fossil fuel: 100% hydro: 0% nuclear: 0% other: 0% (2001) Electricity - consumption: 35.92 billion kWh (2006) Oil - production: 9,836 bbl/day (2005 est.) Oil - consumption: 802,000 bbl/day (2005 est.) Oil - exports: 1.073 million bbl/day (2004) Oil - imports: 1.83 million bbl/day (2004) Oil - proved reserves: 0 bbl (1 January 2006 est.) Natural gas - production: 0 cu m (2006 est.) Natural gas - consumption: 6.8 billion cu m (2006 est.) Natural gas - exports: 0 cu m (2006 est.) Natural gas - imports: 6.339 billion cu m note: from Indonesia and Malaysia (2005) Current account balance: $46.39 billion (2007 est.) Exports: $302.7 billion f.o.b. (2007 est.) Exports - commodities: machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels Exports - partners: Malaysia 12.9%, Hong Kong 10.5%, Indonesia 9.8%, China 9.7%, US 8.9%, Japan 4.8%, Thailand 4.1% (2007) Imports: $252 billion (2007 est.) Imports - commodities: machinery and equipment, mineral fuels, chemicals, foodstuffs Imports - partners: Malaysia 13.1%, US 12.5%, China 12.1%, Japan 8.2%, Taiwan 5.9%, Indonesia 5.6%, South Korea 4.9% (2007) Economic aid - recipient: $0 (2007) Reserves of foreign exchange and gold: $163 billion (31 December 2007 est.) Debt - external: $25.59 billion (31 December 2007 est.) Stock of direct foreign investment - at home: $214.5 billion (2007 est.) Stock of direct foreign investment - abroad: $111.2 billion (2005) Market value of publicly traded shares: $382.4 billion (2007) Currency (code): Singapore dollar (SGD) Currency code: SGD Exchange rates: Singapore dollars per US dollar - 1.507 (2007), 1.5889 (2006), 1.6644 (2005), 1.6902 (2004), 1.7422 (2003) Fiscal year: 1 April - 31 March Communications Singapore Telephones - main lines in use: 1.859 million (2007) Telephones - mobile cellular: 5.619 million (2007) Internet country code: .sg Internet users: 3.105 million (2007) Transportation Singapore Airports: 8 (2007) Pipelines: gas 139 km; refined products 8 km (2007) Roadways: total: 3,262 km paved: 3,262 km (includes 150 km of expressways) (2006) Ports and terminals: Singapore Military Singapore Military branches: Singapore Armed Forces: Army, Navy, Air Force (includes Air Defense) (2008) Military service age and obligation: 18-21 years of age for male compulsory military service; 16 years of age for volunteers; 2-year conscript service obligation, with a reserve obligation to age 40 (enlisted) or age 50 (officers) (2008) Manpower available for military service: males age 16-49: 1,277,862 (2008 est.) Manpower fit for military service: males age 16-49: 1,038,603 (2008 est.) Manpower reaching militarily significant age annually: male: 27,742 female: 26,325 (2008 est.) Military expenditures: 4.9% of GDP (2005 est.) Transnational Issues Singapore Disputes - international: disputes persist with Malaysia over deliveries of fresh water to Singapore, Singapore's extensive land reclamation works, bridge construction, and maritime boundaries in the Johor and Singapore Straits; in November 2007, the ICJ will hold public hearings as a consequence of the Memorials and Countermemorials filed by the parties in 2003 and 2005 over sovereignty of Pedra Branca Island/Pulau Batu Puteh, Middle Rocks and South Ledge; Indonesia and Singapore continue to work on finalization of their 1973 maritime boundary agreement by defining unresolved areas north of Indonesia's Batam Island; piracy remains a problem in the Malacca Strait Illicit drugs: drug abuse limited because of aggressive law enforcement efforts; as a transportation and financial services hub, Singapore is vulnerable, despite strict laws and enforcement, as a venue for money laundering
Singapore Society & Culture The Family 1. The concepts of group, harmony, and mutual security are more important than that of the individual. 2. The family is the centre of the social structure and emphasizes unity, loyalty and respect for the elderly. 3. The term, 'family' generally includes extended family and close friends who are treated as family members. 4. Respect for the elderly and seeing the family as the place one goes to for support, both help retain core values in this island nation. Face & Respect 1. Having face indicates personal dignity. 2. Singaporeans are very sensitive to retaining face in all aspects of their lives. 3. Face is a prized commodity that can be given, lost, taken away or earned. 4. It is a mark of personal qualities such as a good name, good character, and being held in esteem by one's peers. 5. It can also be greater than the person and extend to family, school, company, and even the nation itself. 6. Face is what makes Singaporeans strive for harmonious relationships.
Guanxi – A Chinese Cultural Concept – Prevalent in Singapore
"Guanxi" (pronounced (gwan-shee) is one of the most powerful forces in Chinese culture. Though the direct translation of "guanxi" is "relationships", the concept as it is used and applied in Chinese culture is much richer and encompassing. "Guanxi" does express the relationship of one person to another, or one party to another. However, more importantly the term also expresses an obligation of one party to another, built over time by the reciprocation of social exchanges and favours. If one has "guanxi" with another, one will be quick to do a favour, act on another’s behalf and depending on the depth of the relationship, do anything necessary for the other party. By establishing this type of relationship with someone, the other party is implicitly agreeing also to be available to reciprocate when the need arises. In such a way "guanxi" can be considered as a type of currency that can be saved and spent between the two parties. Like money, it is a resource that can also be also be exhausted, so one must be sensitive not to overextend the "guanxi" that has been established. The exchange of favours does not have to be in like kind. So if one person helps introduce you to someone, it is not beyond the scope of the relationship for that party to then ask you to help get a visa to your country, or get their son into a foreign school. Failure to repay favours in this type of relationship is equivalent to not paying a financial obligation. If one cannot accommodate a specific request, one must find another way to make amends, perhaps by sending along a small gift to let the party know you are sorry you could not help and that you still want to maintain the relationship. The reciprocal nature of "guanxi" and its implied obligations is the main reason why Chinese are reticent to engage in deeper relationships with people they do not know. To begin such a relationship may put you in a compromising position from which it is difficult to withdraw. Additionally, to establish "guanxi" with someone who later proves unworthy will also tarnish that party’s reputation, so the Chinese would rather not begin a relationship with someone they do not know. Finally, in establishing "guanxi", that person or party may want to know up front what they hope to gain from the relationship, to insure they are not contributing effort or services without gaining something in return. Given this background, if you would like to begin a relationship with a Chinese individual, group, or company, it is most expedient to be introduced by a mutual party who can vouch for you. But note that the intermediary is also expending "guanxi" to make the introduction so you will need to repay the favour. Gifts are often used in "guanxi" to establish, or bring equilibrium to the relationship. If one is feeling too indebted to another, that person may bring a gift to bring the relationship back into balance. Also, if one feels that they have offended a party, or if they would like to increase the strength of the relationship to then ask a favour, they may give a gift. If you receive a gift from another, you do not necessarily have to return a gift, especially at that time. Try to determine the reason for the gift so that the problem is not further exacerbated. If you just brought a new customer to a business, the gift will be in response to favour. If someone had to back out of a deal, the gift will be an appeasement. However, if someone is trying to curry favour and you do not want to be engaged, quickly return a similar gift and you are released from that obligation. Not all gifts have elaborate motives behind them; often people are simply expressing gratitude for your presence or friendship.
Singapore Telecommunications Ltd (SINGTEL) announced cost cuts as it said its operations were starting to feel some impact from the global financial crisis. "It's no longer business as usual for our Singapore operations," said Allen Lew, chief executive officer for SingTel's Singapore operations, told reporters on Monday on the sidelines of a briefing on tariff hikes for fixed-line services. "We are adopting a framework that will take into consideration 12-18 months of uncertainty and economic slowdown," Lew added. Lew said Southeast Asia's largest telecoms firm would provide more details of the impact of the global crisis on its regional operations with its quarterly results next month. Meanwhile, SingTel would focus on cost cuts but not axe any jobs in Singapore for now. Staff who resigned would not be replaced, Lew added. "We're starting to curtail costs -- discretionary costs, advertising costs. A lot of it is related to revenue," he said. SingTel shares sank 4.4 percent on Monday to close at S$3.04 as the benchmark Strait Times Index stumbled 5.6 percent, its steepest drop since January, to end at a near 3-year low.
EMP OCT-2007 Roll No - 9 ---------------------- Introduction (UK)
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,[11][12] is a sovereign state located off the northwestern coast of continental Europe. It is an island country,[13][14] spanning the island of Great Britain, the northeast part of the island of Ireland, and many small islands. Northern Ireland is the only part of the UK with a land border, sharing it with the Republic of Ireland.[15] Apart from this land border, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel and the Irish Sea. The largest island, Great Britain, is linked to France by the Channel Tunnel.
The United Kingdom consists of England, Northern Ireland, Scotland and Wales.[16] A unitary state with three devolved national legislatures, the UK is governed by a parliamentary system with its seat of government in London, the capital. The UK is a constitutional monarchy with Queen Elizabeth II as the head of state. The Crown Dependencies of the Channel Islands and the Isle of Man are Crown Dependencies and not part of the UK, but form a federacy with it.[17] The UK has fourteen overseas territories,[18] all remnants of the British Empire, which at its height encompassed almost a quarter of the world's land surface, the largest empire in history. British influence can continue to be observed in the language, culture and legal systems of many of its former colonies. Queen Elizabeth II remains the head of the Commonwealth of Nations and head of state of each of the Commonwealth realms.
The UK is a developed country, with the fifth (nominal GDP) or sixth (PPP) largest economy in the world. It was the world's first industrialised country[19] and the world's foremost power during the 19th and early 20th centuries,[20] but the economic cost of two world wars and the decline of its empire in the latter half of the 20th century diminished its leading role in global affairs. The UK nevertheless remains a major power with strong economic, cultural, military and political influence and is a nuclear power, with the second or third highest (depending on method of calculation) defence spending in the world. It is a member state of the European Union, holds a permanent seat on the United Nations Security Council, and is a member of the G8, NATO, OECD, WTO and the Commonwealth of Nations.
I will be doing my project on Country: Mauritius City: Port Louis Company: Tourism Industry -------------------------- Some information about Mauritius
Capital:Port Louis
Population: 143,000
Area: 2,040 square kilometers (788 square miles)
Language: Creole 80.5%, Bhojpuri 12.1%, French 3.4%, English (official; spoken by less than 1% of the population), other 3.7%, unspecified 0.3% (2000 census)
Religion: Hindu 48%, Roman Catholic 23.6%, Muslim 16.6%, other Christian 8.6%, other 2.5%, unspecified 0.3%, none 0.4% (2000 census)
Climate:tropical, modified by southeast trade winds; warm, dry winter (May to November); hot, wet, humid summer (November to May) Terrain: small coastal plain rising to discontinuous mountains encircling central plateau
Geography - note: the main island, from which the country derives its name, is of volcanic origin and is almost entirely surrounded by coral reefs; home of the dodo, a large flightless bird related to pigeons, driven to extinction by the end of the 17th century through a combination of hunting and the introduction of predatory species
Government type: Parliamentary democracy
Administrative divisions: 9 districts and 3 dependencies*; Agalega Islands*, Black River, Cargados Carajos Shoals*, Flacq, Grand Port, Moka, Pamplemousses, Plaines Wilhems, Port Louis, Riviere du Rempart, Rodrigues*, Savanne
Executive branch: chief of state: President Sir Anerood JUGNAUTH (since 7 October 2003); Vice President Abdool Raouf BUNDHUN (since 25 February 2002) head of government: Prime Minister Navinchandra RAMGOOLAM (since 5 July 2005) cabinet: Council of Ministers appointed by the president on the recommendation of the prime minister elections: president and vice president elected by the National Assembly for five-year terms (eligible for a second term); election last held 19 September 2008 (next to be held in 2013); prime minister and deputy prime minister appointed by the president, responsible to the National Assembly election results: Sir Anerood JUGNAUTH reelected president by unanimous vote; percent of vote by the National Assembly - NA%
Next I will be posting more information about the economy of Mauritius
I opted for Czeck republic, and the company is Skoda which has its manufacturing plants in Sarajevo, Bosnia and Herzegovina. Few Facts and figures that I felt sharing with you are, - Religions: Roman Catholic 27%, Protestant 2%, unaffiliated 59%.The Literacy rate is 99% (2003 est. Economic summary: GDP/PPP (2007 est.): $249 billion; per capita $24,400. Real growth rate: 5.7%. Inflation: 2.6%. Unemployment: 6.6%. Labor force: 5.31 million; agriculture 4.1%, industry 37.6%, services 58.3% (2003 est.). Industries: metallurgy, machinery and equipment, motor vehicles, glass, armaments. Natural resources: hard coal, soft coal, kaolin, clay, graphite, timber. Exports: $113 billion f.o.b. (2007 est.): machinery and transport equipment 52%, chemicals 5%, raw materials and fuel 9% (2003). Imports: $109.8 billion f.o.b. (2007 est.): machinery and transport equipment 46%, raw materials and fuels 15%, chemicals 10% (2003). Major trading partners: Germany, Slovakia, Austria, Poland, UK, France, Italy, Netherlands, China, Russia. Most of the economy has been privatized, including banks and telecommunications - Škoda Auto is the largest car manufacturer in Central Europe. In 2007, 630 032 cars were sold worldwide, the record in company's history. - The country has fully implemented the Schengen Agreement and therefore has abolished border controls, completely opening its borders with all of its neighbours (Germany, Austria, Poland, Slovakia) on December 21, 2007. The Czech Republic is a member of the WTO. - Prague Airport is the main international airport - In 2005, according to the Czech Statistical Office, 65.4% of electricity was produced in steam, combined, and combustion power plants (mostly coal); 30% in nuclear plants; and 4.6% from renewable sources, including hydropower. - The origins of Škoda go back to the early 1890s where, like many long-established car manufacturers, the company started out with the manufacture of bicycles - The first model, Voiturette A, was a success and the company was established both within Austria-Hungary and internationally. By 1905 cars were being produced by the firm. - After WWI it began producing trucks, but in 1924, after running into problems and being hit by a fire, the company sought a partner. As a result it merged with Škoda Works, the biggest industrial enterprise in Czechoslovakia - The Velvet Revolution brought great changes to Czechoslovakia, and most industries were subject to privatisation. In the case of Škoda Automobile, the government brought in a strong foreign partner. Volkswagen was chosen in 1990 and in April, 1991, Škoda became the fourth brand of the Volkswagen Group - The latest Octavia is based on Golf Mk5 floorpan, and Fabia is based on the A0 floorpan. This is interesting, as it came out a year before VW released the new Polo that was also based on it - Škoda now has several manufacturing and assembly plants, including one in Sarajevo, Bosnia and Herzegovina. Škoda also has an assembly plant in the city of Aurangabad, in the western Indian state of Maharashtra which was established in 2001 as Skoda Auto India Private Ltd
Arvind Chaodhary Roll No - 9 EMP OCT -2007 ------------ RBS to pay price of intervention by cutting jobs,
Thousands of jobs are under threat as Royal Bank of Scotland (RBS) slims down its global markets and investment banking division as part of the price of the Government's £20 billion capital injection.
RBS has agreed to “a significant downsizing of capital-intensive businesses” within the division, which employs 25,000 people, most of them in Britain. It has also agreed to reduce proprietary risk, suggesting that proprietary traders could be under threat.
Stephen Hester, the British Land boss who is taking over as chief executive from Sir Fred Goodwin, said that there were no sacred cows, but he added that RBS would remain an important international bank.
He said: “Inevitably, there will be a process of change agreed with my colleagues to overhaul the strategic direction. This bank will be materially changing in a number of ways.”
Arvind Chaodhary Roll No - 9 -------------- RBS May or may not go in Govt's hands
In the two-step capital-raising, RBS plans to generate £15 billion by issuing new shares available to existing shareholders but underwritten by the Treasury, which will buy any unwanted shares. So the the process will be rights issue, if share holders do not subscribe the issue fully the govt will buy these shares. whatever percentage govt has to buy will be the percentage of govt in the bank.
The Treasury will also buy £5 billion of preference shares paying an interest rate of 12 per cent.
The United Arab Of Emirates (UAE) is a federation of seven sheikhdoms located in the southeastern corner of the Arabian Peninsula.
Bordred by the Sultanate of Oman to the east, Soudi Arabia to the south and west and Arabian Gulf to the north.
The total area of the UAE is about 83,000 sq. Kilometer.The seven emarates are Abu Dhabi,Dubai, Sharjah, Ajman, Ras Al Khamah, Fujairah and Umm Al Quaiwan. The Capital of UAE is Abu Dhabi.
The population of UAE is approx. 6 million. Arabic is the official language and Islam is the state religion. The currency is Dirham. (1$ equal to 3.7 Dirhams). The UAE is having worlds highest standards of living and the average life expectancy is 72 years.
The UAE was formerly known as the Trucial Coast. From 1820 onwards Britain establshed its presence in the region with signing of several agreements including maritime truce,which gave its name.
In 1971,Britishers left the Region.
The late Sheikh Zayed bin Sultan Saeed Al Makhtoum, Rulers of Dubai took the initiative to form a federation among the Trucial sheikhdoms.
1. Singaporeans claim they are an egalitarian society, yet they retain strong hierarchical relationships that can be observed in the relationship between parents and children, teachers and students, and employers and employees. 2. This goes back to their important cultural value, group dependence. 3. This reliance on hierarchy is drawn from Confucianism, which emphasizes respecting age and status, even blind obedience to one's elders. 4. In the workplace this is seen in the increased deference that is paid to employees who are older. 5. The elderly are always treated with the utmost respect and courtesy. 6. Even if you do not personally know the individual, you will be expected to give special consideration. 7. Elders are introduced first, are given preferential seating, are given the choicest food, and in general put on a pedestal. 8. There was a law passed in 1996 that mandated that children must assume financial responsibility for their elderly parents should the need arise. 9. This is indicative of the high status of the elderly and the challenges facing the small country as the next generation becomes more individualistic.
Importance of Non-Verbal Communication in Singapore
1. Singaporeans are group dependent and rely on facial expression, tone of voice and posture to tell them what someone feels. 2. They often trust non-verbal messages more than the spoken word. 3. They tend to be subtle, indirect and implicit in their communications. 4. They hint at a point rather than making a direct statement, since that might cause the other person to lose face. 5. Rather than say 'no', they might say, 'I will try', or 'I'll see what I can do'. This allows the person making the request and the person turning it down to save face and maintain harmony in their relationship. 6. Silence is an important element of Singaporean communication. 7. Pausing before responding to a question indicates that they have given the question appropriate thought and considered their response carefully. 8. They do not understand western cultures ability to respond to a question hastily and think this indicates thoughtlessness and rude behaviour.
Singapore Telecommunications Limited, together with its subsidiaries, provides services and solutions in fixed, mobile and data communications, Internet, IT and consultancy, and satellite.
• Wireline services include cable-based and satellite-based fixed telecommunications network services, such as domestic and IDD services, leased lines, data communications, lease of satellite capacity, Inmarsat, and Internet services. • Wireless services comprise mobile telecommunications services, such as cellular and paging services, and sale of handsets and pagers. • Information technology and engineering services portfolio consists of information technology consultancy, systems integration, and engineering services. • Other businesses include subscription television; technical and management consultancy services; ownership and chartering of barges; provision of storage facilities for submarine cables and related equipment; billing services; IT disaster recovery services; operation and maintenance of fibre optic network between Brisbane and Cairns; research and development of software; and managing and operating a call centre for telecommunications services.
Singapore Telecommunications provides its services to corporate and consumer markets primarily in Singapore and Australia.
The company was founded in 1879 and is headquartered in Singapore. Singapore Telecommunications Limited is a subsidiary of Temasek Holdings (Private) Limited.
SingTel also has extensive overseas investments in Mobile operators around Asia. These include Bharti Airtel of India and Telkomsel of Indonesia.
Arvind Chaodhary Roll No - 9 ------------- RBS likely to lose private jet and sporting links ----------- RBS attracted criticism a few years ago when it emerged that the bank leased a luxury jet which was based in Paris and used by Sir Fred. The bank justified the jet on the grounds that its chief executive used the French-made Falcon 900 EX to travel to the sprawling parts of RBS, which include China and the US.
The jet will be among the first assets to be let go, sources said. They added that the Government had already questioned why RBS sponsors Formula 1. This has particularly come into the spotlight as the final round this year is in Brazil, where RBS has a very limited presence. Government insiders also believe that RBS does not need to sponsor the British and American golf Opens. RBS may also have to end its relationship with its golf "ambassador", Jack Nicklaus.
There is a view that its sponsorship of the Six Nations rugby tournament makes sense, as it involves countries where RBS is very active.
Mr Hester insisted on Monday that the Government would not interfere with RBS's commercial decisions. But sources close to the Government pointed out that the Treasury has the right to have input on the appointment of three new non-executive directors and that those individuals will be expected to ensure the Government's interests are looked after and that the bank is not run in a way which will embarrass ministers.
Importance Of Oil in International Business Scenario : Petroleum is major resource for Power Sector now a days.A country's Oil dependancy affect its International Business policies. Major Oil Producing countries: Production in Million Barrels/Day Rank Country Production 1 Saudi Arabia 10.72 2 Russia 9.67 3 United States 8.37 4 Iran 4.15 5 China 3.84 6 Mexico 3.71 7 Canada 3.29 8 United Arab Emirates 2.94 9 Venezuela 2.8 10 Norway 2.79 11 Kuwait 2.67 12 Nigeria 2.44 13 Brazil 2.16 14 Algeria 2.12 15 Iraq 2.01 Source: U.S. Energy Information Administration Saudi Arabia is at Top in terms of Oil Production. Oil Consumption in Different Countries : In Millions of Barrels Per Day
Rank Country Consumption 1 United States 20.59 2 China 7.27 3 Japan 5.22 4 Russia 3.10 5 Germany 2.63 6 India 2.54 7 Canada 2.22 8 Brazil 2.18 9 South Korea 2.16 10 Saudi Arabia 2.07 11 Mexico 2.03 12 France 1.97 13 United Kingdom 1.82 14 Italy 1.71 15 Iran 1.63 Source: U.S. Energy Information Administration Figures clearly shows advantage in fevour of Saudi Arabia. It is Top In terms of Oil Production & On the other hand It is at 10th position in terms of Oil consumption. Saudi Arabia have a clear advantage on this on this Important resource which is crucial in world Economy.
1. Greetings will follow a strict protocol often based on both the ethnic origin and age of the person. 2. Younger people or those who work in multi-national companies may have adopted the western concept of shaking hands with everyone, but this is not the case with older or more reserved Singaporeans. 3. Ethnic Chinese shake hands. Their grasp is rather light although the handshake itself can be rather prolonged. 4. Men and women may shake hands, although the woman must extend her hand first. Introductions are always done in order of age or status. 5. Between men, ethnic Malays shake hands. 6. Men and women do not traditionally shake hands, since Muslim men do not touch women in public. 7. Younger Malays may shake hands with foreign women, but it is more appropriate to use the 'salaam' (bowing the head) greeting. 8. This is also the greeting to be used when two women meet. 9. Ethnic Indians shake hands with members of the same sex. 10. When being introduced to someone of the opposite sex, nodding the head and smiling is usually sufficient. 11. As with the other groups, the elderly or the person with the most status is introduced first.
RBS to stay private? --- Arvind, Roll No - 9 EMP-OCT-07 ----- Whisper it softly, but there's just a chance that Royal Bank of Scotland won't be nationalised after all. Its shares have been lifted this morning on the wave of global stock-market euphoria to around 70p, a margin above the 65.5p price being paid by the government. At that level, it would be rational for RBS's existing shareholders to exercise their right to buy the new shares and "deprive" taxpayers of this investment. After all, if apples - or RBS shares - can be bought from the orchard at 65.5p when the market price is 70p, you'd be a fool not to buy in the orchard, even if you plan to dump them almost immediately in the market rather than hold them. Which means that if RBS's share price were to stay at this level or rise, the state's stake in RBS might turn out to be far less than the 60% that taxpayers would own if we bought all the new stock. The big imponderable is how much spare cash is available to our battered pension funds and whether some cash-rich overseas investors might be tempted to buy - because the £15bn that RBS needs is a lot of wonga. But the important point is that, for all its hideous booboos, RBS is a fearsome moneymaking machine. And its new chief executive, Stephen Hester, has a formidable record of sorting out complex financial problems (which he demonstrated from his time at Abbey). So private-sector investors might just conclude that this is too attractive an opportunity to leave for taxpayers. Whatever happens, RBS will still be lumbered with paying off £5bn of preference shares which we as taxpayers are buying willy nilly. Hester didn't want these but he's lumbered with paying the 12% coupon and ceasing dividend payments on all ordinary shares till the £5bn has been repaid. That said, it's all looking a lot less bleak than Hester might have feared yesterday. Hester may find himself running a bank that can claim with conviction that it's still largely in the private sector. And that's all the more humiliating for HBOS, whose shares have also risen this morning but remain firmly below the subscription price being paid by HM Treasury. What is it about HBOS, owner of the Halifax, that makes it less attractive to investors than RBS? It's our viciously deflating residential housing market, to which the fortunes of this market-leading mortgage lender are inextricably linked. Probably almost nothing can prevent us as taxpayers becoming the full or partial owners of the three mortgage lenders most closely associated with the bubble years in UK residential housing. Soon we'll have the full set of Northern Rock, Bradford & Bingley and HBOS - which will be seen by many as confirmation that the near-catastrophic failure of macro-economic management by Bank of England and Treasury over the past few years was to allow house prices to rise and rise and rise and rise and rise.
The SingTel-backed OpenNet group has won the tender to build Singapore’s government-funded next-gen broadband network (NGN). The consortium said it would roll out fiber to 95% of the city’s homes by June 2012, offering speeds of up to 1 Gbps. In winning the contract, OpenNet has won a windfall of as much as S$750 million ($518 million) from the regulator, IDA, for network construction. It beat off just one rival for the tender, the Infinity group, whose bid was severely embarrassed by the departure of its leader, Hong Kong-based CTI, six weeks ago. OpenNet itself will only be capitalized at no more than S$165 million, according to Axia NetMedia, the Canadian-based consortium leader. Axia said its capital commitment to the project would be capped at C$36 million (S$49.7 million). Axia and SingTel each hold a 30% stake in OpenNet. Singapore Press Holdings (SPH) owns 25% and SP Telecom 15%. Under the terms of the tender, OpenNet will own the dark fiber and other “passive infrastructure” belonging to SingTel and sell access to downstream telcos. SingTel has committed to transferring the underlying assets, such as ducts, manholes and exchanges, to a neutral and independent company within two years of the close of contract. Singapore Information, Communications and Arts Minister Lee Boon Yang, said OpenNet had proposed wholesale prices of S$15 per month for a residential and S$50 for a non-residential fiber connection. A tender for the license to operate wholesale services over the NGN has also underway since April, for which the government has promised to tip in up to S$250 million.
Change of currancy for transactions in OPEC : Organization of the Petroleum Exporting Countries (OPEC) This organization consists of 12 Oil Exporting countries.It is consists of : Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela OPEC Secretary General Abdalla Salem el-Badri Countries not having Good relation with America : Iran & Venezuela,proposed idea of changing Currency of transaction from Dolar to Euro. Iranian President Mahmoud Ahmadinejad have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a "worthless piece of paper." According to Venezuelan President Hugo Chavez "the empire of the dollar has to end." Saudi Arabia's King Abdullah had tried to direct the focus effect of the oil industry on the environment. Iran and Venezuela have proposed trading oil in a basket of currencies to replace the historic link to the dollar, but they had not been able to generate support from enough fellow OPEC members — many of whom, including Saudi Arabia, are staunch U.S. allies
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain is a sovereign state located off the northwestern coast of continental Europe.
The United Kingdom is a unitary state consisting of four countries: England, Northern Ireland, Scotland and Wales.
South Korea, officially the Republic of Korea and often referred to as Korea , is a presidential republic in East Asia, occupying the southern half of the Korean Peninsula. Also known as the "Land of the Morning Calm", it is neighbored by China to the west, Japan to the east and borders North Korea to the north. South Korea's capital and largest city, Seoul, is a global financial and cultural center and the second largest metropolitan city in the world.
Korea is one of the oldest civilizations in the world, founded in 2333 BC by the legendary Dangun according to Samguk Yusa. The Korean Peninsula was first inhabited as early as the Lower Paleolithic. Following the unification of the Three Korean Kingdoms under Silla in AD 668, Korea went through the Goryeo and Joseon Dynasty as one nation until the end of the Korean Empire in 1910. After division, South Korea was established in 1948 and has since developed a successful democracy, a prosperous economy and an advanced military, maintaining a strong alliance with the United States. It is now working towards a peaceful reunification with North Korea.
South Korea is a major economic power and one of the wealthiest countries in Asia. It is a developed country with a high standard of living, having a trillion dollar economy that is the fourth largest in Asia and 13th largest in the world. Forming the G20 industrial nations and the world's top ten exporters, it is an APEC and OECD member, defined as a High Income Nation by the World Bank and an Advanced Economy by the IMF and CIA. A major non-NATO ally, it has the world's sixth largest armed forces and the tenth largest defence budget in the world. The Asian Tiger is leading the Next Eleven nations and is still among the world's fastest growing developed countries.Today, its success story is known as the "Miracle on the Han River", a role model for many developing countries.
South Korea is leading several key industries in the world, particularly in the fields of science and technology.It has a very advanced and modern infrastructure and is a world leader in information technology such as electronics, semiconductors, LCD displays, computers and mobile phones, led by Samsung and LG. Home of the world's third largest steel producer, POSCO, it is the world's largest shipbuilder, the world's fourth largest oil refiner and one of the world's top five automobile producers, headed by Hyundai and Kia. It is also a leading country in biotechnology, construction, engineering, machinery, petrochemicals, robotics and textiles.
Official name – Republic of Korea Population – 48, 846, 823* Official Language –Korean, English widely taught in junior high and high school Currency – South Korean won (KRW) Capital city –Seoul GDP – purchasing power parity $897.4 billion* GDP Per Capita - purchasing power parity $24,200*
* Source: CIA The World Factbook 2007
Korean business Part 1 – Working in Korea (Pre-departure) • Working practices in Korea o Before doing business in Korea prior appointments are required and should generally be made a few weeks in advance. The most suitable times to arrange a business meeting are normally between 10am and 12pm or 2pm and 4pm. o For both social occasions and business meetings, punctuality is essential. Your Korean counterparts will expect you to arrive on time as a sign of respect; therefore it is advised to call beforehand if you will be delayed. You may find however, that top Korean business executives may arrive a few minutes late to appointments. This is a reflection of their extremely busy and pressured schedule and should not be taken with offence. o It is recommended that you send any proposals, company brochures, and marketing material, written in both Korean and English, as a preview for your Korean contacts before you visit the country. • Structure and hierarchy in Korean companies o Korea is known for its vertical social structure based on age and social status. The organisational arrangement of Korean companies is highly centralised with authority concentrated in senior levels. o Influenced by Confucianism, Koreans respect for authority is paramount in their business culture and practices. High-ranking individuals tend to have more power over their subordinates than in the West. Consequently, decision making in Korea will follow a formal procedure in which senior approval is necessary. • Working relationships in Korea o Generally speaking, responsibility is delegated to trusted, dependable subordinates by their superiors. Therefore, it is imperative not to offend or ignore the lower ranks and to show the various managers the same respect as other senior levels. o Age is the most essential component within a relationship in Korea. A person older than you automatically holds a certain level of superiority. This is particularly evident in Korean business settings. o Personal ties in Korea, such as kinship, schools, birthplaces etc, often take precedence over job seniority, rank or other factors, and have significant influence over the structure and management of Korean companies.
Dinesh Kumar Garg EMP -2007-OCT-20 For International Business Project Country- Germany City – Dusseldorf Company – SMS Demag AG Germany Germany officially the Federal Republic of Germany is a country in Central Europe. It is bordered to the north by the North Sea, Denmark, and the Baltic Sea; to the east by Poland and the Czech Republic; to the south by Austria and Switzerland; and to the west by France, Luxembourg, Belgium, and the Netherlands. The territory of Germany covers 357,021 km² and is influenced by a temperate seasonal climate. With over 82 million inhabitants, it has the largest population of any member state of the European Union and is home to the third-largest number of international migrants worldwide.[4] A region named Germania inhabited by several Germanic peoples has been known and documented before 100 AD. Since the 10th century German territories have formed a central part of the Holy Roman Empire that lasted until 1806. During the 16th century, northern Germany became the centre of the Protestant Reformation. As a modern nation-state, the country was first unified amidst the Franco-Prussian War in 1871. In 1949, after World War II, Germany was divided into two separate states - East Germany and West Germany - along the lines of Allied occupation.[5] The two states were reunified in 1990. West Germany was a founding member of the European Community (EC) in 1957, which became the European Union in 1993. It is part of the borderless Schengen zone and adopted the European currency, the euro, in 1999. Germany is a federal parliamentary republic of sixteen states (Länder). The capital and largest city is Berlin. Germany is a member of the United Nations, NATO, the G8, the G4 nations, and signed the Kyoto protocol. It is a major economic power with the world's third largest economy by nominal GDP and the largest exporter of goods in 2007. In absolute terms, Germany allocates the second biggest annual budget of development aid in the world,[6] while its military expenditure ranked sixth.[7] The country has developed a high standard of living and established a comprehensive system of social security. It holds a key position in European affairs and maintains a multitude of close partnerships on a global level.[8] Germany is recognized as a scientific and technological leader in several fields.[9]
Dusseldrof Düsseldorf (IPA: [ˈdʏsəldɔɐf]) is the capital city of the German state of North Rhine-Westphalia. It is an economic centre of Germany. The city is situated on the River Rhine and has a high population density - the Rhine-Ruhr metropolitan area has over 10 million inhabitants alone. The city is renowned for its many events and also for its fashion and trade fairs. Every July more than 4.5 million people visit the Große Düsseldorfer Kirmes fair. To know more about Dusseldorf please check the following link http://en.wikipedia.org/wiki/D%C3%BCsseldorf
SMS Demag AG SMS Demag AG belongs to SMS GmbH. This is the holding for a group of companies internationally active in plant construction and mechanical engineering relating to the processing of steel and nonferrous metals. In the year 2007 some 8,000 employees worldwide generated a turnover of about EUR 3 billion
I have chosen china as the country of my specialization. In the last few days, I searched quite a few websites on China and had a chance to talk to a couple of Chinese guys who are working for one of our business partner. I am sharing my understanding in the for of below writeup. Most of it is available on internet but this one is a little condensed and some of you may really like it.
China (Officially, People’s republic of China as distinguished from Taiwan which is officially called Republic of China due to historical reasons), is world's fourth largest country (after Russia, Canada, and US) in terms of landmass with a total area of about 9.5 million sq. Km and the largest in terms of population with about 1.33 billion people (largest chunk is the currently working population – 71% in age group 15-64 years). Official language is Standard Chinese or Mandarin but there are a number of dialects widely different from each other are spoken in different geographical areas. China has got rich endowment of natural resources like coal, iron ore, petroleum, natural gas, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium etc. and has world’s largest hydropower potential. Climate is extremely diverse: tropical in south to subarctic in north, terrain is mostly mountains, high plateaus, deserts in west; plains, deltas, and hills in east. Major environment challenges faced by China today are: air pollution (greenhouse gases, sulfur dioxide particulates) from reliance on coal produces acid rain; water shortages, particularly in the north; water pollution from untreated wastes; deforestation; estimated loss of one-fifth of agricultural land since 1949 to soil erosion and economic development; desertification; trade in endangered species etc. For centuries China stood as a leading civilization, outpacing the rest of the world in the arts and sciences, but in the 19th and early 20th centuries, the country was beset by civil unrest, major famines, military defeats, and foreign occupation. After World War II, the Communists under MAO Zedong established an autocratic socialist system that, while ensuring China's sovereignty, imposed strict controls over everyday life and cost the lives of tens of millions of people. After 1978, his successor DENG Xiaoping and other leaders focused on market-oriented economic development and by 2000 output had quadrupled. For much of the population, living standards have improved dramatically and the room for personal choice has expanded, yet political controls remain tight. Economic and social development parameters of China are quite impressive: literacy rate is around 91% (against 61% of India), GDP at official exchange rate is $3.25 trillion (more than 3 times of that of India), Current account BOP is $371 b (against $ -12b of India), Teledensity is 88% (against 29% of India) and a consistent double digit GDP growth rate for last 15 years. Administratively, China is divided in to 22 provinces, 5 autonomous regions, 4 municipalities and 2 special administrative regions.
I wanted to put a map of china for reference but could not upload it. In the next few days, I will write more about China. I am planning to study a fast growing Chinese company called Huawei Telecom. Will write something about it in coming days.
=============== EMPOCT'07-No 60 =============== The French are often perceived as taking a great pride in national identity and the positive achievements of France and cultural issues are more integrated in the body of the politics than elsewhere. The French Revolution claimed universalism for the democratic principles of the Republic. Charles de Gaulle actively promoted a notion of French "grandeur" ("greatness"). Perceived declines in cultural status are a matter of national concern and have generated national debates, both from the left and from the right.
French culture is profoundly allied with the French language. The artful use of the mother tongue, and its defense against perceived decline or corruption by foreign terms, is a major preoccupation for some people and entities.
The Académie française sets an official standard of language purity.France counts many regional languages, some of them being very different from standard French such as Breton and Alsatian. Some regional languages are Romance, like French, such as Provençal. The Basque language is completely unrelated to French and indeed, to any other language in the world; its area straddles the border between the south west of France and the north of Spain.
France is a secular country where freedom of thought and of religion is preserved. French population describe themselves as Catholics -- and only half of those said they believed in God--, 31% as atheists, 4% as Muslims, 3% as Protestants and 1% as Jews.
The evolution of the French state and culture, from the Renaissance to today, has however promoted a centralization of politics, media, and cultural production in and around Paris and the industrialization of the country in the twentieth century has led to a massive move of French people from the countryside to urban areas.There are huge differences in life style, socioeconomic status and world view between Paris and the countryside provinces. The French often use the expression "la France profonde" ("Deep France", similar to "heartland") to designate the profoundly "French" aspects of provincial towns, village life and rural agricultural culture.
Industrialization, immigration and urbanization in the nineteenth and twentieth centuries have also created new socioeconomic regional communities in France, both urban (like Paris, Lyon, Villeurbanne, Lille, Marseille, etc.) and the suburban and working class hinterlands (like Seine-Saint-Denis) of urban agglomerations (called variously banlieues ("suburbs", sometimes qualified as "chic" or "pauvres") or les cités ("housing projects") which have developed their own "sense of place" and local culture (much like the various boroughs of New York City or suburbs of Los Angeles), as well as cultural identity
For better or worse, the U.S. economy is at or near the top in a number of international rankings:
No. 1 in economic output, called gross domestic product, amounting to $13.13 trillion in 2006. With less than 5 percent of the world's population, at about 302 million, the United States accounts, by different measures, for between 20 and 30 percent of world GDP. The GDP of just one state, California, amounting to $1.5 trillion in 2006, exceeded the GDP in all but about eight countries that year. No. 1 in total imports, some $2.2 trillion in 2006, about twice that for the country with the next highest level, Germany. No. 2 in exports of goods, $1 trillion in 2006, behind only Germany, although China is predicted to surpass the United States in 2007. No. 1 in exports of services, $422 billion in 2006. No. 1 trade deficit, $758.5 billion in 2006, many times that of any other country. No. 2 in maritime container traffic in 2006, behind only China. No. 1 in external debt, estimated at more than $10 trillion mid-2006. No. 1 destination for foreign investment, an inflow of more than $1.5 trillion in 2006. No. 1 for inflow of foreign direct investment—businesses and real estate—about $177.3 billion in 2006. No. 1 destination for foreign direct investment by the world's 100 biggest multinational corporations, including corporations from developing countries. No. 5 in holdings of reserve assets in 2005 at $188.3 billion, 4 percent of the world's share, behind Japan and China (each with 18 percent), Taiwan and South Korea, and just ahead of Russia. No. 15 in reserves of foreign exchange and gold, about $69 billion in mid-2006. No. 1 source of remittances to Latin America and the Caribbean, about three-fourths of the total $62 billion in 2006, from people who migrated out of those regions to find work abroad. No. 1 in petroleum consumption, about 20.6 million barrels a day in 2006, and No. 1 in crude oil imports, more than 10 million barrels a day. No. 3 in ease of doing business in 2007, after Singapore and New Zealand. No. 20 of 163, tied with Belgium and Chile, in Transparency International's 2006 index measuring perceptions about corruption (lowest-numbered economies are viewed as least corrupt).
Roll No - 9 ---------------------- UK Poltics and Govenrnment ------------------------- The United Kingdom is a constitutional monarchy with Queen Elizabeth II as head of state; the monarch of the UK also serves as head of state of fifteen other Commonwealth countries, putting the UK in a personal union with those other states. The Crown has sovereignty over the Isle of Man and the Bailiwicks of Jersey and Guernsey. Collectively, these three territories are known as the Crown Dependencies, lands owned by the British monarch but not part of the United Kingdom. They are not part of the European Union. However, the Parliament of the United Kingdom has the authority to legislate for the dependencies, and the British government manages their foreign affairs and defence.
The UK has fourteen overseas territories around the world, the last remaining territories of the British Empire. The overseas territories are not considered part of the UK, but in most cases the local populations have British citizenship and the right of abode in the UK. This has been the case since 2002.
The UK has a parliamentary government based on strong traditions: the Westminster system has been emulated around the world — a legacy of the British Empire.
The Constitution of the United Kingdom governs the legal framework of the country and consists mostly of written sources, including statutes, judge made case law, and international treaties. As there is no technical difference between ordinary statutes and law considered to be "constitutional law," the British Parliament can perform "constitutional reform" simply by passing Acts of Parliament and thus has the power to change or abolish almost any written or unwritten element of the constitution. However, no Parliament can pass laws that future Parliaments cannot change.The United Kingdom is one of the three countries in the world today that does not have a codified constitution (the other two being New Zealand and Israel).
The UK's remaining overseas territoriesThe Parliament of the United Kingdom that meets in the Palace of Westminster is the ultimate legislative authority in the United Kingdom. It has two houses: an elected House of Commons and an appointed House of Lords, and any Bill passed requires Royal Assent to become law. A devolved parliament in Scotland and devolved assemblies in Northern Ireland, and Wales were established following public approval as expressed in referenda, but these are not sovereign bodies and could be abolished by the UK parliament.
The Houses of ParliamentThe position of Prime Minister, the UK's head of government, belongs to the Member of Parliament who can obtain the confidence of a majority in the House of Commons, usually the current leader of the largest political party in that chamber. The Prime Minister and Cabinet are formally appointed by the Monarch to form Her Majesty's Government. Though the Prime Minister chooses the Cabinet, and by convention HM The Queen respects the Prime Minister's choices. The Cabinet is traditionally drawn from members of the Prime Minister's party in both legislative houses, and mostly from the House of Commons, to which they are responsible. Executive power is exercised by the Prime Minister and Cabinet, all of whom are sworn into Her Majesty's Most Honourable Privy Council, and become Ministers of the Crown. The Rt Hon Gordon Brown MP, leader of the Labour Party, has been Prime Minister, First Lord of the Treasury and Minister for the Civil Service since 27 June 2007.
For elections to the House of Commons, the UK is currently divided into 646 constituencies, with 529 in England, 18 in Northern Ireland, 59 in Scotland and 40 in Wales, though this number will rise to 650 at the next General Election. Each constituency elects one Member of Parliament by simple plurality. General Elections are called by the Monarch when the Prime Minister so advises. Though there is no minimum term for a Parliament, a new election must be called within five years of the previous general election.
For elections to the European Parliament, the UK has 78 MEPs, elected in 12 multi-member constituencies.Questions over sovereignty have been brought forward due to the UK's membership of the European Union.
The UK's three major political parties are the Labour Party, the Conservative Party, and the Liberal Democrats, winning between them 616 out of the 646 seats available in the House of Commons at the 2005 general election. Most of the remaining seats were won by parties that only contest elections in one part of the UK such as the Scottish National Party (Scotland only), Plaid Cymru (Wales only), and the Democratic Unionist Party, Social Democratic and Labour Party, Ulster Unionist Party, and Sinn Féin (Northern Ireland only, though Sinn Féin also contests elections in Ireland). In accordance with party policy, no elected Sinn Féin Member of Parliament has ever attended the House of Commons to speak in the House on behalf of their constituents as Members of Parliament are required to take an oath of allegiance to the Monarch.
• Business practices in Korea o The exchange of business cards in Korea is vital for initiating introductions. Korean’s prefer to know the person they are dealing with. Therefore, it is important to emphasise your title so that the correct authority, status, and rank is established. It is advised to have the reverse side of your card translated into Korean. Cards should be presented and accepted with both hands and must be read and studied with respect and consideration before placing them on the table. o Gift-giving is a common practice within Korean business settings. Generally given at the first business meeting, gifts are often used to acquire favours and build relationships. You should allow the host to present his gift first and be sure to accept the gift with both hands. To avoid loss of face, gifts of similar value should be exchanged and gifts of greater value should be given to the most senior person respectively. o Like most Asian countries, Koreans believe that contracts are a starting point, rather than the final stage of a business agreement and prefer them to be left flexible enough so that adjustments can be made. Although many Koreans now appreciate the legal implications regarding the signing of contracts, they may still be interpreted as less important than the interpersonal relationship established between the two companies. It is vital that you are aware of how your Korean counterparts view these documents in order to avoid any possible misunderstandings. o When meeting your Korean counterpart for the first time, always wait to be introduced as third party introductions are generally preferred. Today, it is quite common for Koreans to shake hands with foreign colleagues after a bow, encompassing both cultural styles. To show respect during handshaking, you should ensure that you support your right forearm with the left hand. When departing, a bow is usually sufficient.
Roll N0 - 9 ---------------- UK, OVERSEAS TERRTORIES ------------- The UK has fourteen overseas territories around the world, the last remaining territories of the British Empire. The overseas territories are not considered part of the UK, but in most cases the local populations have British citizenship and the right of abode in the UK. This has been the case since 2002. ------- The British Overseas Territories are fourteen territories that are under the sovereignty of the United Kingdom, but which do not form part of the United Kingdom itself.
The name British Overseas Territory was introduced by the British Overseas Territories Act 2002, and replaced the name British-Dependent Territory, which was introduced by the British Nationality Act 1981. Before that, the territories were known as colonies or Crown colonies. The British Overseas Territories are also referred to as overseas territories of the United Kingdom, UK overseas territories, or, when the context is clear, simply the Overseas Territories.
The territories of Jersey, Guernsey, and the Isle of Man, though also under the sovereignty of the British Crown, have a slightly different constitutional relationship with the United Kingdom, and are consequently classed as Crown dependencies rather than Overseas Territories. Territories and dependencies are distinct from the Commonwealth of Nations, a voluntary association of former British colonies and latterly other nations such as Mozambique that have joined because of the benefits it offers.
In a historical context, colonies should be distinguished from protectorates and protected states, which though under British control, were nominally independent states, whereas colonies were part of the British state. They should also not be confused with Dominions, which, known collectively as the Commonwealth, were independent states, held to be equal in sovereign status to the United Kingdom within the Empire and Commonwealth after the Statute of Westminster in 1931. Crown colonies, such as Hong Kong, were differentiated from other colonies in being administered directly by the Crown, without the degree of local autonomy found in self-governed colonies such as Bermuda.
The current population of all UK overseas territories is estimated at 247,899
C OUNTRY : SPAIN C ITY : BARCELONA C OMPANY : Zara (clothing)
SPAIN is a country located in southwestern Europe on the Iberian Peninsula. Its mainland is bordered to the south and east by the Mediterranean Sea except for a small land boundary with Gibraltar; to the north by France, Andorra, and the Bay of Biscay; and to the west by the Atlantic Ocean and Portugal.
MADRID is the Capital of SPAIN.
SPAIN has 2nd highest number of UNESCO WORLD HERITAGE SITES totalling 40
BURGOS CATHEDRAL HISTORIC CENTER OF CORDOBA WORKS OF ANTONI GAUDI to name a few
Top 10 CITIES OF SPAIN (population wise) 1. MADRID 2. BARCELONA 3. VALENCIA 4. SEVILLE 5. ZARAGOZA 6. MALAGA 7. MURCIA 8. PALMA DE MALLORCA 9. LAS PALMAS DE GRAN CANARIA 10.BILBAO Spain is the second largest country in Western Europe after France. SPANISH also known as CASTILIAN is the only language with official status nationwide. ROMAN CATHOLICISM is the main(76% of SPANIARDS are CATHOLICS) religion in Spain.
=========================== Sandeep Goel EMP OCT 07 - 60 ============================ Families and romantic relationships
Household structure Growing out of the values of the Catholic church and rural communities, the basic unit of French society was traditionally held to be the family .Over the twentieth century, the "traditional" family structure in France has evolved from extended families to, after World War II, nuclear families. According to INSEE figures, household and family composition in metropolitan France continues to evolve. Most significantly, from 1982 to 1999, single parent families have increased from 3.6% to 7.4%; there have also been increases in the number of unmarried couples, childless couples, and single men (from 8.5% to 12.5) and women (from 16.0% to 18.5%). Their analysis indicates that "one in three dwellings are occupied by a person living alone; one in four dwellings are occupied by a childless couple."
Voted by the French Parliament in November 1999 following some controversy, the pacte civil de solidarité ("civil pact of solidarity") commonly known as a PACS, is a form of civil union between two adults (same-sex or opposite-sex) for organising their joint life. It brings rights and responsibilities, but less so than marriage. From a legal standpoint, a PACS is a "contract" drawn up between the two individuals, which is stamped and registered by the clerk of the court. Individuals who have registered a PACS are still considered "single" with regard to family status for some purposes, while they are increasingly considered in the same way as married couples are for other purposes. While it was pushed by the government of Prime Minister Lionel Jospin in 1998, it was also opposed, mostly by people on the right-wing who support traditionalist family values and who argued that PACS and the recognition of homosexual unions would be disastrous for French society.
Same-sex marriage is however not legal in France.
Role of the State The French state has traditionally played a key role in promoting and supporting culture through the educational, linguistic, cultural and economic policies of the government and through its promotion of national identity. Because of the closeness of this relationship, cultural changes in France are often linked to, or produce, political crisis.At times, French state policies have sought to unify the country around certain cultural norms, while at other times they have promoted regional differences within a heterogeneous French identity. The cultural policies of the (current) French Fifth Republic have been varied, but a consensus seems to exist around the need for preservation of French regionalisms (such as food and language) as long as these don't undermine national identity. Education The French educational system is highly centralised, organised, and ramified. It is divided into three different stages:
primary education (enseignement primaire); secondary education (enseignement secondaire); higher education (enseignement supérieur"). Primary and secondary education is predominantly public (private schools also exist, in particular a strong nationwide network of primary and secondary Catholic education), while higher education has both public and private elements. At the end of secondary education, students take the baccalauréat exam, which allows them to pursue higher education.
COMPONENT SETTINGS FOR OCTOBER 2008 One birth every.... 7 seconds One death every..... 13 seconds One intnl migrant every 30 seconds Net gain of 1 person every. 11seconds
1. Always send a list of people who will be attending the negotiations and their title well in advance. 2. Always wait to be told where to sit. There is a strict hierarchy that must be followed. 3. Business negotiations happen at a slow pace. 4. Singaporeans are non-confrontational. They will not overtly say 'no'; likewise, their 'yes' does not always signify agreement. 5. Singaporeans give a respectful pause of up to 15 seconds before answering a question. Do not start speaking too quickly or you will miss the answer. 6. Be prepared with a mental list of concessions you would be willing to make that would not injure your own business. 7. Singaporeans are tough negotiators on price and deadlines. 8. Decisions are consensus driven 9. Avoid losing your temper or you will lose face and damage your relationship. 10. If you are signing a contract with ethnic Chinese, the signing date may be determined by an astrologer or a geomancer (feng shui man).
Sweden is a predominantly middle class country with one of the most far-reaching social security systems in the world. Patriotism is important to Swedes, who are very proud of their nation, towns and regions.
Meeting and Greeting
1. Shake hands with everyone present -- men, women, and children -- at business and social meetings. Shake hands again when leaving. 2. Younger people generally do not shake hands when meeting friends. Older people expect a handshake when being greeted or when leaving. 3. If no one is available to introduce you, shake each person's hand and introduce yourself.
Body Language
1. Generally, Swedes are reserved in body language. They do not embrace or touch often in public. 2. Maintain eye contact at all times while talking with someone.
Corporate Culture
3. Swedes take punctuality for business meetings very seriously and expect you to do likewise. Call with an explanation if you are delayed. 4. Use last names and appropriate titles until specifically invited by your Swedish host or colleague to use first names. 5. English is commonly used in business. An interpreter is rarely necessary. Business cards in English are acceptable. 6. During business meetings, Swedes usually get right down to business after very brief cordialities. 7. Agendas are clearly set for meetings with a stated purpose. 8. Swedes are factual, practical, precise, reserved and get to the point quickly. When communicating with Swedes, be clear and concise in detailing what you expect from them. They will be equally clear with you. 9. Presentations are important. They should be clear, to the point and detailed. 10. Reports, briefings and presentations should be backed up by facts, figures, tables and charts. 11. Swedes are generally tough negotiators. They are methodical and detailed, slow to change their positions and will push hard for concessions. 12. In the relatively small private sector, it is important to know who is who and how everyone fits in the corporate structure. Important decisions are often made by middle and lower level managers. 13. While decision making may be a slow process, implementing decisions is often rapid. 14. Do not call a Swedish businessperson at home unless it is important and you have a well-established relationship with this person.
Dining and Entertainment
1. To beckon a waiter wave your hand and make eye contact. 2. Business entertaining is most often done in a restaurant during lunch or dinner. Business breakfasts are acceptable, but not as common as in the U.S. Business can be discussed at any time during a meal. 3. Spouses may be included in business dinners. 4. Female guest of honor is seated to the right of the host. Male guest of honor is seated to left of the hostess. 5. Dinner is often served immediately at dinner parties. There may be no cocktail hour. 6. Toasting is something of a formal ritual in Sweden. Don't take a drink until your host has given a toast. 7. Look into the eyes of the person being toasted and say Skål (Skohl). 8. Allow hosts and seniors in rank and age to toast first. 9. When toasting, make eye contact and nod to the others present, before putting your glass down. 10. After making a toast, the men wait for the women to put their glasses down first. Do this immediately. It can be annoying for men to wait too long for the women to put their glasses down. 11. The meal ends with the male guest of honor tapping his glass with a knife or spoon and thanking the hostess on behalf of all the guests. The female guest of honor should thank the host. 12. A butter knife is usually provided. Do not use a dinner knife for butter. 13. Always ask permission before smoking. 14. Keep your hands on the table at all times during a meal -- not in your lap -- and keep your elbows off the table. 15. It is polite to try everything served. 16. When finished eating, place knife and fork side by side on the plate at the 5:25 position. 17. Call or write the next day to thank your host and hostess. 18. Do not ask for a tour of your host's home unless you have a well established relationship.
Dress
1. Swedes wear fashionable, but often casual, European style warm clothing. It is important to be well dressed in public at all times. 2. For business, men should wear conservative suits and ties. Women should wear dresses, suits, and pantsuits.
Gifts
1. Gifts are generally not exchanged in business, but it is common to give small Christmas gifts to a Swedish colleague. Gifts representative of one's business or home area are appropriate. 2. When invited to someone's home, always bring a small gift for the hostess. If host has children, a small gift of candy is appreciated. 3. Give flowers (unwrap before giving), wine (liquor is special because it is very expensive in Sweden), chocolates, books and recorded music. Do not give crystal or items made in Sweden. 4. Gifts are opened immediately.
Helpful Hints
1. Knowledge about Sweden's economy, high standard of living, sports, architecture, history, etc. is appreciated. 2. Remember to thank someone for dinner or gift upon next meeting. 3. Men should tip their hats to women and remove their hats while talking to women. 4. Do not praise another city or area in Sweden over the one you are presently visiting. Swedes are very proud of their own town or region. 5. Do not criticize Swedish lifestyle, sexual habits, suicide rate, prices, etc. 6. Do not compliment lightly. Insincere comments are considered rude.
Especially For Women
1. In Sweden, women make up 48% of the work force -- the highest percentage of working women in the world. 2. Foreign businesswomen are widely accepted and should encounter few problems conducting business in Sweden. 3. Businesswomen may pay the check in a restaurant without any embarrassment.
C OUNTRY: SPAIN C ITY : BARCELONA C OMPANY: ZARA(Clothing)
BARCELONA is the 2nd Largest city of Spain.Barcelona is a major economic centre with one of Europe's principal Mediterranean ports, and Barcelona International Airport is the second largest in Spain. Founded as a Roman city, Barcelona became the capital of the Counts of Barcelona. After merging with the Kingdom of Aragon, it became one of the most important cities of the Crown of Aragon. Besieged several times during its history, Barcelona is today an important cultural centre and a major tourist destination and has a rich cultural heritage. Particularly renowned are architectural works of Antoni Gaudí and Lluís Domènech i Montaner that have been designated UNESCO World Heritage Sites. The city is well known in recent times for the 1992 Summer Olympics.
Barcelona has a Mediterranean climate, with sub-mediterranean influence, which makes of it not to be the "classical mediterranean climate" with mild, humid winters and warm, dry summers. Barcelona is located in the eastern coast of the Iberian Peninsula, so, the usual west winds, specially in winters, which cause the wet climate in many places of Western Europe, arrive in Barcelona with low humidity, producing no rain. Z A R A Zara is the flagship chain store of Inditex Group owned by Spanish tycoon Amancio Ortega, who also owns brands such as Massimo Dutti, Pull and Bear, Oysho, Uterqüe, Stradivarius and Bershka. The group is headquartered in A Coruña, Spain, where the first Zara store opened in 1975. It is claimed that Zara needs just two weeks to develop a new product and get it to stores, compared with a six-month industry average, and launches around 10,000 new designs each year. Zara was described by Louis Vuitton fashion director Daniel Piette as "possibly the most innovative and devastating retailer in the world"
Zara has resisted the industry-wide trend towards transferring production to low-cost countries. Perhaps its most unusual strategy was its policy of zero advertising; the company preferred to invest a percentage of revenues in opening new stores instead.
From: Anuj Dhingra, Roll no-6 Rahul Chauhan, Roll no-50
Australia, officially the Commonwealth of Australia, is a country in the southern hemisphere comprising the mainland of the world's smallest continent, the major island of Tasmania and numerous other islands in the Indian and Pacific Oceans.N4 Neighbouring countries include Indonesia, East Timor and Papua New Guinea to the north, the Solomon Islands, Vanuatu and New Caledonia to the northeast, and New Zealand to the southeast. Australia is the only single country to occupy an entire continent.
Prior to European settlement in the late 1700's and early 1800's, the Australian mainland was inhabited by around 250 individual nations[citation needed] of indigenous Australians who lived sustainably on the land for around 40,000 years.[6] After sporadic visits by fishermen from the north and then European discovery by Dutch explorers in 1606,[7] the eastern half of Australia was later claimed by the British in 1770 and initially settled through penal transportation to the colony of New South Wales, commencing on 26 January 1788. As the population grew and new areas were explored, another five largely self-governing Crown Colonies were established during the 19th century.
On 1 January 1901, the six colonies became a federation, and the Commonwealth of Australia was formed. Since federation, Australia has maintained a stable liberal democratic political system and remains a Commonwealth realm. The capital city is Canberra, located in the Australian Capital Territory (ACT). The population is just over 21.3 million, with approximately 60% of the population concentrated in and around the mainland state capitals of Sydney, Melbourne, Brisbane, Perth and Adelaide
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. The Australian Securities Exchange and the Sydney Futures Exchange are the largest stock exchanges in Australia.
Australia is one of the most laissez-faire capitalist economies according to indices of economic freedom. Australia's per-capita GDP is slightly higher than that of the UK, Germany, and France in terms of purchasing power parity. The country was ranked third in the United Nations 2007 Human Development Index and sixth in The Economist worldwide Quality-of-Life Index 2005. Australia also broke a record in 2008 when four of its major cities ranked in the top ten of The Economist's World's Most Livable Cities list, with Melbourne coming in at 2nd, Perth at 4th, Adelaide at 7th, and Sydney at 9th.[41] The emphasis on exporting commodities rather than manufactures has underpinned a significant increase in Australia's terms of trade during the rise in commodity prices since the start of the century. Australia's balance of payments is more than 7% of GDP negative: Australia has had persistently large current account deficits for more than 50 years.[42] Australia has grown at an average annual rate of 3.6% for over 15 years, a period in which the OECD annual average was 2.5%.[42]
The Hawke Government floated the Australian dollar in 1983 and partially deregulated the financial system.[43] The Howard government followed with a partial deregulation of the labour market and the further privatisation of state-owned businesses, most notably in the telecommunications industry.[44] The indirect tax system was substantially changed in July 2000 with the introduction of a 10% Goods and Services Tax (GST), which has slightly reduced the reliance on personal and company income tax that characterises Australia's tax system.
In January 2007, there were 10,033,480 people employed, with an unemployment rate of 4.6%.[45] Over the past decade, inflation has typically been 2–3% and the base interest rate 5–6%. The service sector of the economy, including tourism, education and financial services, constitutes 69% of GDP.[46] Although Agriculture and natural resources constitute only 3% and 5% of GDP, respectively, they contribute substantially to export performance. Australia's largest export markets are Japan, China, the US, South Korea and New Zealand.[47]
When the United Nations took up the Palestine question in 1947, it recommended that all of Jerusalem be internationalized. The Jewish Agency, after much soul-searching, agreed to accept internationalization in the hope that in the short-run it would protect the city from bloodshed and the new state from conflict. The Arab states were as bitterly opposed to the internationalization of Jerusalem as they were to the rest of the partition plan. Prime Minister David Ben-Gurion, subsequently, declared that Israel would no longer accept the internationalization of Jerusalem.
In May 1948, Jordan invaded and occupied east Jerusalem, dividing the city for the first time in its history, and driving thousands of Jews — whose families had lived in the city for centuries — into exile.
For the next 19 years, the city was split, with Israel establishing its capital in western Jerusalem and Jordan occupying the eastern section, which included the Old City and most religious shrines. In 1950, Jordan annexed all the territory it occupied west of the Jordan River, including east Jerusalem.
The other Arab countries denied formal recognition of the Jordanian move, and the Arab League considered expelling Jordan from membership. Eventually, a compromise was worked out by which the other Arab governments agreed to view all the West Bank and east Jerusalem as held "in trust" by Jordan for the Palestinians.
From 1948-67, the city was divided between Israel and Jordan. Israel made western Jerusalem its capital; Jordan occupied the eastern section. Because Jordan — like all the Arab states at the time — maintained a state of war with Israel, the city became two armed camps, replete with concrete walls and bunkers, barbed-wire fences, minefields and other military fortifications.
In violation of the 1949 Armistice Agreement, Jordan denied Israelis access to the Temple Wall and to the cemetery on the Mount of Olives, where Jews have been burying their dead for 2,500 years. Jordan actually went further and desecrated Jewish holy places. King Hussein permitted the construction of a road to the Intercontinental Hotel across the Mount of Olives cemetery. Hundreds of Jewish graves were destroyed by a highway that could have easily been built elsewhere. The gravestones, honoring the memory of rabbis and sages, were used by the engineer corps of the Jordanian Arab Legion as pavement and latrines in army camps. The ancient Jewish Quarter of the Old City was ravaged, 58 Jerusalem synagogues — some centuries old — were destroyed or ruined, others were turned into stables and chicken coops. Slum dwellings were built abutting the Western Wall.
Jews were not the only ones who found their freedom impeded. Under Jordanian rule, Israeli Christians were subjected to various restrictions, with only limited numbers allowed to visit the Old City and Bethlehem at Christmas and Easter. Because of these repressive policies, many Christians emigrated from Jerusalem, leading their numbers to dwindle from 25,000 in 1949 to less than 13,000 in June 1967.
Jerusalem is Unified
In 1967, Jordan ignored Israeli pleas to stay out of the Six-Day War and attacked the western part of the city. The Jordanians were routed by Israeli forces and driven out of east Jerusalem, allowing the city's unity to be restored. Teddy Kollek, Jerusalem’s mayor for 28 years, called the reunification of the city "the practical realization of the Zionist movement's goals." Today, a museum devoted to promoting dialogue and coexistence, the Museum on the Seam, is located at the junction of East and West Jerusalem.
Freedom of Religion
After the war, Israel abolished all the discriminatory laws promulgated by Jordan and adopted its own tough standard for safeguarding access to religious shrines. "Whoever does anything that is likely to violate the freedom of access of the members of the various religions to the places sacred to them," Israeli law stipulates, is "liable to imprisonment for a term of five years." Israel also entrusted administration of the holy places to their respective religious authorities.
Muslim rights on the Temple Mount, the site of the Dome of the Rock and the Al-Aksa Mosque, have not been infringed, and the holy places are under the supervision of the Muslim Waqf. Although it is the holiest site in Judaism, Israel has left the Temple Mount under the control of Muslim religious authorities.
Since 1967, hundreds of thousands of Muslims and Christians — many from Arab countries that remain in a state of war with Israel — have come to Jerusalem to see their holy places. Arab leaders are free to visit Jerusalem to pray if they wish to, just as Egyptian President Anwar Sadat did at the El-Aksa mosque.
Along with religious freedom, Palestinian Arabs in Jerusalem have unprecedented political rights. Arab residents were given the choice of whether to become Israeli citizens. Most chose to retain their Jordanian citizenship. Moreover, regardless of whether they are citizens, Jerusalem Arabs are permitted to vote in municipal elections and play a role in the administration of the city.
The Final Status of Jerusalem \ The Israeli-Palestinian Declaration of Principles (DoP) signed September 13, 1993, leaves open the status of Jerusalem. Other than this agreement to discuss Jerusalem during the final negotiating period, Israel conceded nothing else regarding the status of the city during the interim period. Israel retains the right to build anywhere it chooses in Jerusalem and continues to exercise sovereignty over the undivided city. Meanwhile, the Palestinians maintain that Jerusalem should be the capital of an independent Palestinian state.
Jerusalem is one issue on which the views of Israelis are unanimous: The city must remain the undivided capital of Israel. Still, efforts have been made to find some compromise that could satisfy Palestinian interests. For example, one suggestion is to allow the Palestinians to set up their capital in a West Bank suburb of Jerusalem — Abu Dis.
Roll No - 9 --------------- UK economy --------------- The UK economy is made up (in descending order of size) of the economies of England, Scotland, Wales and Northern Ireland. Based on market exchange rates, the United Kingdom is today the fifth largest economy in the world and the second largest in Europe after Germany.
The Industrial Revolution started in the United Kingdom with an initial concentration on heavy industries such as shipbuilding, coal mining, steel production, and textiles. The empire created an overseas market for British products, allowing the UK to dominate international trade in the 19th century. However, as other nations industrialised, coupled with economic decline after two world wars, the United Kingdom began to lose its competitive advantage and heavy industry declined, by degrees, throughout the 20th century. Manufacturing remains a significant part of the economy, but accounted for only one-sixth of national output in 2003. The British motor industry is a significant part of this sector, although it has diminished with the collapse of the MG Rover Group and most of the industry is foreign owned. Civil and defence aircraft production is led by the United Kingdom's largest aerospace firm, BAE Systems, and the continental European firm EADS, the owner of Airbus. Rolls-Royce holds a major share of the global aerospace engines market. The chemical and pharmaceutical industry is strong in the UK, with the world's second and sixth largest pharmaceutical firms (GlaxoSmithKline and AstraZeneca, respectively) being based in the UK.
The UK service sector, however, has grown substantially, and now makes up about 73% of GDP.The service sector is dominated by financial services, especially in banking and insurance. London is the world's largest financial centre with the London Stock Exchange, the London International Financial Futures and Options Exchange, and the Lloyd's of London insurance market all based in the City of London. London is a major centre for international business and commerce and is the leader of the three "command centres" for the global economy (along with New York City and Tokyo). It has the largest concentration of foreign bank branches in the world. In the past decade, a rival financial centre in London has grown in the Docklands area, with HSBC and Barclays Bank relocating their head offices there. Many multinational companies that are not primarily UK-based have chosen to site their European or rest-of-world headquarters in London: an example is the US financial services firm Citigroup. The Scottish capital, Edinburgh, has one of the large financial centres of Europe and is the headquarters of the Royal Bank of Scotland Group, one of the world's largest banks.
Tourism is very important to the British economy. With over 27 million tourists arriving in 2004, the United Kingdom is ranked as the sixth major tourist destination in the world. London, by a considerable margin, is the most visited city in the world with 15.6 million visitors in 2006, ahead of 2nd placed Bangkok (10.4 million visitors) and 3rd placed Paris (9.7 million).
The creative industries accounted for 7% GVA in 2005 and grew at an average of 6% per annum between 1997 and 2005.
The United Kingdom's agriculture sector accounts for only 0.9% of the country's GDP.
North Sea oil and gas supply most of the UK's energy needs.The UK has a small coal reserve along with significant, yet continuously declining natural gas and oil reserves. Over 400 million tonnes of proven coal reserves have been identified in the UK. In 2004, total UK coal consumption (including imports) was 61 million tonnes,allowing the UK to be self sufficient in coal for just over 6.5 years, although at present extraction rates it would take 20 years to mine. An alternative to coal-fired electricity generation is underground coal gasification (UCG). UGC involves injecting steam and oxygen down a borehole, which extracts gas from the coal and draws the mixture to the surface - a potentially very low carbon method of exploiting coal. Identified onshore areas that have the potential for UGC amount to between 7 billion tonnes and 16 billion tonnes. Based on current UK coal consumption, these volumes represent reserves that could last the UK between 200 and 400 years.
Government involvement throughout the economy is exercised by the Chancellor of the Exchequer (currently Alistair Darling) who heads HM Treasury, but the Prime Minister (currently The Rt Hon Gordon Brown MP), is First Lord of the Treasury; the Chancellor of the Exchequer is the Second Lord of the Treasury. In recent years, the UK economy has been managed in accordance with principles of market liberalisation and low taxation and regulation. Since 1997, the Bank of England's Monetary Policy Committee, headed by the Governor of the Bank of England, has been responsible for setting interest rates at the level necessary to achieve the overall inflation target for the economy that is set by the Chancellor each year.The Scottish Government, subject to the approval of the Scottish Parliament, has the power to vary the basic rate of income tax payable in Scotland by plus or minus 3 pence in the pound, though this power has not yet been exercised.
As of 2007, the UK's government debt was 44% of GDP.
The currency of the UK is the pound sterling, represented by the symbol £. The Bank of England is the central bank, responsible for issuing currency. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover the issue. The UK chose not to join the euro at the currency's launch, and the British Prime Minister, The Rt Hon Gordon Brown MP, has ruled out membership for the foreseeable future, saying that the decision not to join had been right for Britain and for Europe. The government of former Prime Minister Tony Blair had pledged to hold a public referendum for deciding membership should "five economic tests" be met. In 2005, more than half (55%) of the UK were against adopting the currency, while 30% were in favour.
Roll No - 9 CITY LONDON INTRO ------------ London is the capital and largest urban area of both England and the United Kingdom An important settlement for two millennia, London's history goes back to its founding by the Romans. Since its settlement, London has been part of many movements and phenomena throughout history, including the English Renaissance, the Industrial Revolution, and the Gothic Revival. The city's core, the ancient City of London, still retains its limited medieval boundaries; but since at least the 19th century the name "London" has also referred to the whole metropolis that has developed around it. Today the bulk of this conurbation forms the London region of England and the Greater London administrative area, with its own elected mayor and assembly.
London is one of the world's leading business, financial and cultural centres, and its influence in politics, education, entertainment, media, fashion and the arts contribute to its status as a major global city. London boasts four World Heritage Sites: the Palace of Westminster, Westminster Abbey and St. Margaret's Church; the Tower of London; the historic settlement of Greenwich; and the Royal Botanic Gardens, Kew. The city is a major tourist destination both for domestic and overseas visitors.
London's population draws from a wide range of peoples, cultures, and religions, and over 300 languages are spoken within the city. As of 2006, it had an official population of 7,512,400 within the boundaries of Greater London and is the most populous municipality in the European Union. As of 2001, the Greater London Urban Area had a population of 8,278,251 and the metropolitan area is estimated to have a total population of between 12 and 14 million.
The population of the United States is 300 million people of mixed races and heritage. Although the population is predominantly of European descent, the country has been a welcoming beacon to immigrants from virtually every country and culture in the world. English is the predominant language, although languages from many foreign countries are spoken within cultural enclaves throughout the U.S. The majority of American's (U.S.) are Christian.
The United States of America consists of 50 states governed on a federal level, as well as a state level. Laws are written at both levels, and when doing business in the United States one must make sure to meet the requirements mandated by these laws. The country is very litigious so legal resources are available and specialists can be found to assist with any transaction.
The culture and geographic location of an area will influence how business is done. Traditionally, the East Coast is more conservative and formal in their dress and manners than the West Coast. That is not to say a West Coast meeting carries any less importance. The climate and lifestyle are just more relaxed, which is reflected in the pace and informality.
www.trade.gov .. site for International Trade Administration under Deptt of Commerce helps US Businesses by prmotoing Trade and Investment, strengthening industry competitiviveness and ensuring free trade. On its website (http://trade.gov/faq.asp) are detailed broad guidelines on basic rules and guidelines to trade in USA.
www.export.gov .. is the US Govt's export portal that advices exporters on details of exporting from US to other countries. The site provides concise and clear information about legal issues, financing, paper work requirements etc related to exporting goods.
-> Offer a firm handshake, lasting 3-5 seconds, upon greeting and leaving. Maintain good eye contact during your handshake.
If you are meeting several people at once, maintain eye contact with the person you are shaking hands with, until you are
moving on the next person.
-> Good eye contact during business and social conversations shows interest, sincerity and confidence.
-> Good friends may briefly embrace, although the larger the city, usually the more formal the behavior.
-> Introductions include one's title if appropriate, or Mr., Ms, Mrs. and the full name.
-> Business cards are generally exchanged during introductions. However, they may be exchanged when one party is leaving.
-> A smile is a sign of friendliness, and in rural areas you may be greeted with a "hello" rather than a handshake.
-> Ask permission to smoke before lighting a cigarette or cigar. Due to health concerns, you may or may not be given permission.
Table Mannerssource: http://www.ravenwerks.com/practices/etiquette.htm These apply to the Americas and most of Europe. If you’re elsewhere, do some research beforehand.
The fork goes on the left. The spoon and knife go on the right. Food items go on the left, so your bread plate is on your left. Drinks, including coffee cups, should be on the right. When sitting at a banquet table, you may begin eating when two people to your left and right are served. If you haven't been served, but most of your table has, encourage others to start.
Reach only for items in front of you, ask that other items be passed by a neighbor. Offer to the left; pass to the right, although once things start being passed, go with the flow.
E-mail -> Make the subject line specific. Think of the many messages you're received with the generic subject line, "Hi" or "Just for you."
-> Don’t forward messages with three pages of mail-to information before they get to the content. In the message you forward, delete the extraneous information such as all the "Memo to," subject, addresses, and date lines.
-> When replying to a question, copy only the question into your e-mail, then provide your response. You needn't hit reply automatically, but don't send a bare message that only reads, "Yes." It's too blunt and confuses the reader.
-> Address and sign your e-mails. Although this is included in the To and From sections, remember that you’re communicating with a person, not a computer.
-> DON'T TYPE IN ALL CAPS. IT'S TOO INTENSE, and you appear too lazy to type properly. This is still a written medium. Follow standard writing guidelines as a professional courtesy.
Melbourne (pronounced /ˈmelbən/) is the second most populous city in Australia, with a metropolitan area population of approximately 3.8 million (2007 estimate) and serves as the state capital of Victoria.[1] It is located at the mouth of the Yarra River and on the northern and eastern shorelines of Port Phillip on an area of land that formed part of the Wurundjeri and Boonwurrung nation's territories for around 40,000 years. The area was an important meeting place for clans and terriroties of the Kulin nation alliance as well as a vital food and water resource[3] that was managed sustainably until early European settlers cleared much of these resources, forcing both nation's people into neighbouring territories.[4][5][3]
Melbourne was founded by free settlers in 1835, 47 years after the first European settlement of Australia, as a pastoral settlement situated around the Yarra River.[6] Transformed rapidly into a major metropolis by the Victorian gold rush in the 1850s, 'Marvellous Melbourne' became Australia's largest and most important city by 1865 the second largest in the British Empire,[7] and the tenth largest in the world for a brief moment at the turn of the 20th century. Such rapid growth from nothing was unprecedented at the time. However, Melbourne's growth slowed after 1900 and it was overtaken by Sydney as the largest city in Australia during the early 20th century.[8]
Today, Melbourne is a major centre of commerce, industry and cultural activity. The city is referred to as Australia's 'sporting and cultural capital'[9] and it is home to many of the nation's most significant cultural and sporting events and institutions. It has been recognised as a gamma world city by the Loughborough University group's 1999 inventory.[10] Melbourne is notable for its mix of Victorian and contemporary architecture, its extensive tram network and Victorian parks and gardens, as well as its diverse, multicultural society.[11] Melbourne has hosted multiple international conferences and events, including the 1956 Summer Olympics and the 2006 Commonwealth Games. Politically, it was the location of the 1981 Commonwealth Heads of Government Meeting and the 2006 G20 summit.
Environment Like many urban environments, Melbourne faces some significant environmental issues. Melbourne has one of the highest urban footprints in the world due to its low density housing, suburban sprawl, and car dependence due to minimal public transport outside of the inner city.[36] Much of the vegetation within the city are non-native species, most of European origin, and in many cases plays host to invasive species and noxious weeds.[37] Significant introduced urban pests include the Common Myna,[38] Rock Pigeon,[39] Common Starling, Brown Rat, European Wasp,[40] and Red Fox. Many outlying suburbs, particularly those in the Yarra Valley and the hills to the north-east and east, have gone for extended periods without regenerative fires leading to a lack of saplings and undergrowth in urbanised native bushland, the Department of Sustainability and Environment partially addresses this problem by regularly burning off.[41][42] National parks nearby to the urban area include the Mornington Peninsula National Park, Port Phillip Heads Marine National Park and Point Nepean National Park in the south east, Organ Pipes National Park to the north and Dandenong Ranges National Park to the east. There are also a number of significant state parks just outside Melbourne.[43]
Responsibility for regulating pollution falls under the jurisdiction of the EPA Victoria and several local councils. Air pollution, by world standards, is classified as being good, however summer and autumn are the worst times of year for atmospheric haze in the urban area.[44][45]
The biggest current environmental issue facing Melbourne is the Victorian government project to deepen the channel to Melbourne Ports by dredging Port Phillip Bay. It is subject to controversy and strict regulations among fears that beaches and marine wildlife could be affected by the disturbance of heavy metals and other industrial sediments.[46][35] Other major pollution problems in Melbourne include levels of bacteria including E-coli in the Yarra River and its tributaries caused by septic systems,[47] as well as up to 350,000 cigarette butts entering the storm water runoff every day.[48] Several programs are being implemented to minimise beach and river pollution.[49][35]
Economy
Darker green indicate areas of higher household incomes. Suburbs immediately east of the centre tend to be more affluent The Hoddle Grid, Melbourne's original Central Business District Southbank. One of the adjacent urban renewal where the expansion of Melbourne's CBD has recently overflowed.Melbourne is home to Australia's busiest seaport and much of Australia's automotive industry, which include Ford and Toyota manufacturing facilities, and the engine manufacturing facility of Holden. It is home to many other manufacturing industries, along with being a major business and financial centre.[91] In 1981, the city hosted the Commonwealth Heads of Government Meeting[92] and in mid-November 2006, the city was host to the G20 summit,[93] amid violent protests. International freight is an important industry. The city's port, Australia's largest, handles more than $75 billion in trade every year and 39% of the nation's container trade.[94][95][70]
Melbourne is also a major technology hub, with an ICT industry that employs over 60,000 people (one third of Australia's ICT workforce), has a turnover of $19.8 billion and export revenues of $615 million.
Melbourne retains a significant presence of being a financial centre for Asia-Pacific. Two of the big four banks, NAB and ANZ, are headquartered in Melbourne. The city has carved out a niche as Australia’s leading centre for superannuation (pension) funds, with 40% of the total, and 65% of industry super-funds. Melbourne is also home to the $40 billion-dollar Federal Government Future Fund, and could potentially be home to the world's largest company should the proposed merger between BHP Billiton and Rio Tinto Group be carried out.[96]
Tourism plays an important role in Melbourne's economy, with approximately 7.6 million domestic visitors and 1.88 million international visitors in 2004.[97] In 2008, Melbourne overtook Sydney as the nation's leading tourism destination.[98]
The city is headquarters for many of Australia's largest corporations, including five of the ten largest in the country (based on revenue)[99] (ANZ, BHP Billiton, the National Australia Bank, Rio Tinto and Telstra); as well as such representative bodies and thinktanks as the Business Council of Australia and the Australian Council of Trade Unions.
Melbourne rated 34th within the top 50 financial cities as surveyed by the Mastercard Worldwide Centers of Commerce Index (2007),[100] between Barcelona and Geneva, and second only to Sydney (14th) in Australia.
Most recent major infrastructure projects, such as the redevelopment of Southern Cross Station (formerly Spencer Street Station),[101] have been centred around the 2006 Commonwealth Games, which were held in the city from 15 March to 26 March 2006. The centrepiece of the Commonwealth Games projects was the redevelopment of the Melbourne Cricket Ground, the stadium used for the opening and closing ceremonies of the Games. The project involved rebuilding the northern half of the stadium and laying a temporary athletics track at a cost of $434 million.[102]
Melbourne has also been attracting an increasing share of domestic and international conference markets. Construction began in February 2006 of a $1 billion 5000-seat international convention centre, Hilton Hotel and commercial precinct adjacent to the Melbourne Exhibition and Convention Centre to link development along the Yarra River with the Southbank precinct and multi-billion dollar Docklands redevelopment.[103]
Governance
John So, current Lord Mayor of MelbourneThe Melbourne City Council governs the City of Melbourne, which takes in the CBD and a few adjoining inner suburbs. However the head of the Melbourne City Council, the Lord Mayor of Melbourne, is frequently treated as a representative of greater Melbourne (the entire metropolitan area),[134] particularly when interstate or overseas. The Lord Mayor is John So, who was crowned the 2006 World Mayor.[135]
The rest of the metropolitan area is divided into 30 local government areas. All these are designated as Cities, except for five on the city's outer fringes which have the title of Shire. The local government authorities have elected councils and are responsible for a range of functions (delegated to them from the State Government of Victoria under the Local Government Act of 1989[136]), such as urban planning and waste management.
Most city-wide government activities are controlled by the Victorian state government, which governs from Parliament House in Spring Street. These include public transport, main roads, traffic control, policing, education above preschool level, and planning of major infrastructure projects. Because three quarters of Victoria's population lives in Melbourne, state governments have traditionally been reluctant to allow the development of citywide governmental bodies, which would tend to rival the state government. The semi-autonomous Melbourne and Metropolitan Board of Works was abolished in 1992 for this reason.[137] This is not dissimilar to other Australian states where State Governments have similar powers in greater metropolitan areas.
The UK's weather is strongly influenced by the sea which surrounds the British Isles (Britain and Ireland). The sea warms up and cools down more slowly than land, keeping winters relatively warm but also making the summers cooler. Britain also benefits from a warm sea current called the Gulf Stream which originates in the Gulf of Mexico - this keeps the sea on the west side of Britain warmer (frosts are rare in these areas).
The graph below shows average daily maximum and minimum temperatures in London each month of the year. Remember that each of these monthly figures are averages (on any particular day the maximum and minimum will usually be within +/- 5°C of these values). If you compare these figures with similar statistics for your own country you will get a good idea about the kind of differences to expect.
Temperatures are cooler as you move further north or nearer to the coast (in Edinburgh average temperatures are on average 2°C below those in London) or as you move to higher land. For every 500 feet (150 metres) of altitute the average temperature falls by about 1°C.
You may be wise to bring something warm to wear in the evenings even during the summer months. Very hot days (over 30°C) are not common, so air conditioning is not as widespread as in warmer countries. If it is very hot when you are in the UK you may find it uncomfortable on underground trains or buses, and may want to carry some water with you.
During the winter people will often wear several different layers of clothing. This allows them to keep warm when walking outside, but to remain comfortable when inside a heated building. Most buildings use central heating during the winter, although the heating may only be on for a short time each morning/evening in some private homes (to save heating costs).
DAYLIGHT HOURS
Days can seem very short during the winter. In London in late December the sunrise time is after 8am and sunset is before 4pm, so it is only light for about 8 hours. The day is even shorter further north - at the same time of year in Edinburgh it is light for 7 hours and in the Shetland Islands (off the north coast of Scotland) for just 6 hours.
The opposite effect is experienced in summer. In mid-June it is getting light in London as early as 4:30am (if you are a light sleeper you may be woken by the light or by the sound of the birds). Sunset is not until nearly 9:30pm, so it is light for 17 hours of the day. The day is even longer further north - in Edinburgh it is light for 18 hours and in the Shetland Islands for 19 hours.
Early in the morning on the last Sunday in March watches and clocks are put forward by 1 hour as the country changes to British Summer Time (GMT+1). Visitors need to be careful because they may miss their flight or travel connections if they forget to make the change. Early in the morning on the last Sunday in October watches are put back by 1 hour as the country changes back to Greenwich Mean Time (GMT). If you forget this time you may arrive 1 hour too early for appointments.
RAIN & WIND
In the UK the most common winds (known as the prevailing winds) are from the west or south-west. These winds arrive in Britain after crossing the Atlantic Ocean, from which they pick up moisture. The air rises as it reaches higher ground, cools and falls as rain. The map below shows the location of hills and mountains. To the east of higher ground it is drier. Some of the wettest parts of the British Isles are south-west Ireland, Wales, the Lake District (in north-west England) and the western islands of Scotland (for example: Skye).
RAIN & WIND
In the UK the most common winds (known as the prevailing winds) are from the west or south-west. These winds arrive in Britain after crossing the Atlantic Ocean, from which they pick up moisture. The air rises as it reaches higher ground, cools and falls as rain. The map below shows the location of hills and mountains. To the east of higher ground it is drier. Some of the wettest parts of the British Isles are south-west Ireland, Wales, the Lake District (in north-west England) and the western islands of Scotland (for example: Skye).
Many people from overseas believe that it rains a lot in London, but in fact its rainfall is similar to that in other European capitals. Rainfall is evenly spread during the year, so even in summer a visitor is likely to experience some wet weather. In spring and autumn there are likely to be some heavy showers, often followed by sunshine. In winter the rain is usually lighter but may last for longer. In the summer if there are a few days of particularly hot weather these are often followed by a thunderstorm. It is because the weather can change very quickly that many British people carry an umbrella with them throughout the year, even when it appears to be a fine day.
Snow is not very common in London (expect snow to settle on the ground maybe two or three days during the year). It is more common away from the cities and coasts and in particular on higher land and further north. In the Scottish Highlands snow is common between December and February - this area has the only ski resort in the UK, at a place called Aviemore. Snow is most likely to fall when winds at this time of year come from the north (from the Arctic) or from the east (from Siberia).
Snow is not very common in London (expect snow to settle on the ground maybe two or three days during the year). It is more common away from the cities and coasts and in particular on higher land and further north. In the Scottish Highlands snow is common between December and February - this area has the only ski resort in the UK, at a place called Aviemore. Snow is most likely to fall when winds at this time of year come from the north (from the Arctic) or from the east (from Siberia).
Winds from the Atlantic can become strong, so gales can be quite common along the western coastlines, especially in the north. The area in East Anglia (around Cambridge or Norwich) can become windy, because the land is very flat. Coastal areas can also be quite windy at any time of year (the temperature difference between the sea and the land causes sea breezes). Extreme weather conditions such as hurricanes are rare. UK weather forecasts show average wind speeds (in miles per hour), but when there are strong winds there may be gusts of more than twice this speed.
The movie Body of Lies is recommended, good study in cultural contrast: - the American aggression vs the Middle East sensitivity to context and to long term stability - the scene of restrain on handshake - the American-Jordanian stand-off - the sense one canot make as larger themes are operative
According to the IMF list of 2007, Bangladesh ranked as the 48th largest economy in the world. Although one of the world's poorest and most densely populated countries, Bangladesh has made major strides to meet the food needs of its increasing population, through increased domestic production augmented by imports. The land is devoted mainly to rice and jute cultivation, although wheat production has increased in recent years; the country is largely self-sufficient in rice production. Nonetheless, an estimated 10% to 15% of the population faces serious nutritional risk. Bangladesh's predominantly agricultural economy depends heavily on an erratic monsoonal cycle, with periodic flooding and drought.Although improving, infrastructure to support transportation, communications, and power supply is poorly developed. Bangladesh is limited in its reserves of coal and oil, and its industrial base is weak.[1] The country's main endowments include its vast human resource base, rich agricultural land, relatively abundant water, and substantial reserves of natural gas.[1]
Since independence in 1971, Bangladesh has received more than $30 billion in grant aid and loan commitments from foreign donors, about $15 billion of which has been disbursed.[1] Major donors include the World Bank, the Asian Development Bank, the UN Development Program, the United States, Japan, Saudi Arabia, and west European countries.[1] Bangladesh historically has run a large trade deficit, financed largely through aid receipts and remittances from workers overseas.[1] Foreign reserves dropped markedly in 2001 but stabilized in the $3 to $4 billion range (or about 3 months' import cover).[1] In January 2007, reserves stood at $3.74 billion, and they increased to $5.39 billion by January 2008, according to the Bank of Bangladesh, the central bank.[1]
Ankur Singh R. No : 05 3 Cs- Europe/France/Carrefour
About Carrefour Carrefour SA (Euronext: CA) (pronounced [karˈfur]) is a French international hypermarket chain, with a global network of outlets. It is the second largest retail group in the world in terms of revenue after Wal-Mart. Carrefour operates mainly in Europe, Brazil, Argentina, Dominican Republic and Colombia, but also has shops in North Africa and Asia. Carrefour means "junction" in French.
Korean business etiquette (Do's and Don'ts) • DO maintain an element of modesty and humility as these aspects are extremely important in Korean culture. With this in mind, you must try to avoid over-selling previous business achievements. • DO make direct eye-contact when addressing Korean business professionals, as it is important to indicate your honesty and interest. However, some Koreans do not make • eye-contact for any length of time when in the presence of an authority figure as a sign of respect. • DO refrain from being overly impatient. The decision making process in Korea is often done collectively and will therefore require more time. • DON’T address a Korea by his or her given name as it is considered extremely impolite Korean names begin with the family name and are followed by a two-part given name. The correct way to address a Korean is with Mr, Mrs, or Miss together with their family name. You should address your Korean counterparts using appropriate titles until specifically invited to do otherwise. • DON’T display criticism in public. It should be conducted in private where loss of face will be diminished. In a similar vein, opposing someone directly can also cause a Korean to lose face and should be avoided. • DON’T use large hand gestures or facial expressions. Talking or laughing loudly is also considered impolite in Korean culture. Korean Culture Quiz – true or false 1. The number 4 is considered to be unlucky in Korea. Therefore, one must never give a gift made up of 4 items. 2. When entering a group meeting in Korea, the senior member of your party should enter the room first, then the next highest ranking person and so on. Koreans will also be seated according to rank. 3. The colour red symbolises prosperity and happiness in Korea. Writing a person’s name in red ink means they will have success in the future. 4. Your Korean counterparts will prefer you to contact them directly and they appreciate you simply popping in to see them 5. When visiting a Korean family home it is vital to take off your shoes when first entering the house in order not to offend your host. Cultural Quiz – Answers 1. True. 2. True. 3. False. Signing a contract or writing a person’s name in red ink is the worst thing you can do in Korea, since this indicates that the person is deceased. 4. False. It is important to have a formal introduction to any person or company with whom you want to do business with in Korea. 5. True.
Known as one of the global food capitals, Singapore is legendary for the sheer diversity, richness, and creativity of its culinary scene. One of the main drivers behind the spurt in Singapore tourism is its popularity in terms of food. Some of the Singaporean dishes that have acquired a cult status are Bak kut teh, Nasi lemak, Satay, Hokkien mee, Laksa, and Rojak. Singapore food does not disappoint on the seafood front either. One can sample a mind-boggling array of dishes rustled up with oysters, squids, clams, crabs, stingrays, and almost every living aquatic creature! In terms of cuisine, Singapore offers Indian, Chinese, French, Thai, Spanish, Indonesian, and Italian, and Fusion food to its locals and the large number of tourists that visit Singapore each year.
I have chosen "Canada" as the country of my specialization. City - "Toronto" and Company "Bell Canada"
Background of Canada ::
A land of vast distances and rich natural resources, Canada became a self-governing dominion in 1867 while retaining ties to the British crown. Economically and technologically the nation has developed in parallel with the US, its neighbor to the south across an unfortified border. Canada faces the political challenges of meeting public demands for quality improvements in health care and education services, as well as responding to separatist concerns in predominantly francophone Quebec.
Total Land Area :: 9,093,507 sq km Population of Canada :: 33,212,696 (July 2008 est.)
Economy Overview :: As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over the equitable distribution of federal funds to the Canadian provinces. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs 80% of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. During 2007, Canada enjoyed good economic growth, moderate inflation, and the lowest unemployment rate in more than three decades.
Bell Canada is Canada's leading Communications Company and ranks 224 on Forbes Global 2000 List.
Kibun – The word Kibun has no literal translation in English, however, as a concept that permeates every facet of Korean life, it can be described in terms of pride, face, mood, or state of mind. In order to maintain a Korean’s sense of Kibun, particularly in a business context, one must show the proper respect and avoid causing loss of face. In a culture where social harmony is essential, the ability to identify another’s state of mind, often referred to as nunchi, is crucial to successful business ventures. For this reason, you must be aware of subtleties in communication, observing non-verbal and indirect cues that often suggest the true sense of what is being communicated. Inhwa – Drawing from Confucian beliefs, the term inhwa signifies the Korean approach to harmony and is closely related to the name of the village “Inhwa”. As a collectivist society, consensus is an important element in promoting and maintaining harmony in Korea. To avoid disturbing inhwa, Koreans will often reply with a positive answer and show reluctance to give direct refusals. In Korean business culture this manifests itself in an innate sense of loyalty, employee obedience and courteous and formal behaviour. Confucianism – Confucianism became a common philosophy in ancient Korea bringing about significant changes and exerting considerable influence on the Korean people. With its roots set deep in Korean culture, Confucianism continues to pervade the consciousness of many Koreans, shaping the Korean moral system, its national laws, and general way of life in Korea. The ubiquitous Confucian beliefs and values of contemporary Korean society highlight a plethora of social concerns, and include obligation towards others, respect for family, elders and authority, loyalty, honour, and filial piety. Personal Relationships - In Korea, personal relations take precedence over business. In order to be successful, it is vital to establish good, personal relationships based on mutual trust and benefit. Korean business culture is firmly grounded in respectful rapport and in order to establish this, it is essential that you have the right introduction and approach the company through a mutual friend or acquaintance at the appropriate level. Koreans spend a significant amount of time developing and fostering personal contacts. Therefore, time should be allocated for this process, particularly during the first meeting, which is frequently used to simply establish rapport and build trust. Once good, solid relations have been recognised in Korea, continuous reinforcement and maintenance is vital. Doing Business with Koreans The changing face of Korea continues to evolve at an unprecedented pace in current Korean society. A country well known for its difficult history, Korea was liberated from Japanese occupation at the end of World War II, only to be faced with the Cold War struggle that divided the country into two separate states; the Southern democratic republic, and the Northern communist style government. In the years that followed the Korean War, South Korea experienced rapid economic development and has continued to prosper in today’s modern world economy, becoming the largest in Asia after Japan and China. The present-day increase in business opportunities in Korea only increases the importance of cultural knowledge for those wishing to enter into this modern day market.
Motto: Ittehad, Tanzim, Yaqeen-e-Muhkam (Urdu) "Unity, Discipline and Faith" Anthem: "Qaumi Tarana" Capital : Islamabad 33°40′N 73°10′E33.667, 73.167 Largest city: Karachi Official languages: Urdu Recognised regional languages: Balochi, Pashto, Punjabi, Sindhi, Siraiki, English
Government: Semi-presidential federal democratic republic President: Asif Ali Zardari Prime MinisterYousaf Raza Gillani Chairman of Senate; Muhammad Mian Soomro Speaker of House: Fahmida Mirza Chief JusticeAbdul Hameed Dogar
Formation: Independence: from the British Empire Declared: 14 August 1947 Islamic republic: 23 March 1956
Area: Total; 803,940 km² (34th Rank) 340,403 sq mi Water (%):3.1
The name Pakistan means Land of (the) Pure in Urdu and Persian. It was coined in 1934 as Pakistan by Choudhary Rahmat Ali, who published it in his pamphlet “Now or Never”.
Pakistan, officially the “Islamic Republic of Pakistan”, is a country located in South Asia, Southwest Asia, Middle East and converges with Central Asia and the Middle East. It has a 1,046 kilometre (650 mile) coastline along the Arabian Sea and Gulf of Oman in the south, and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. Tajikistan also lies adjacent to Pakistan but is separated by the narrow Wakhan Corridor.
The region forming modern Pakistan was home to the ancient Indus Valley Civilization and then, successively, recipient of ancient Vedic, Persian, Indo-Greek and Islamic cultures. The area has witnessed invasions and settlement by the Aryans, Persians, Greeks, Arabs, Turks, Afghans and the Mongols. It was a part of British Raj from 1858 to 1947, when the Pakistan Movement for a state for Muslims, led by Muhammad Ali Jinnah and the Muslim League resulted in the independence and creation of the state of Pakistan, that comprised the provinces of Sindh, North-West Frontier Province, West Punjab, Balochistan and East Bengal. With the adoption of its constitution in 1956, Pakistan became an Islamic republic. In 1971, a civil war in East Pakistan resulted in the independence of Bangladesh. Pakistan's history has been characterized by periods of economic growth, military rule and political instability.
Pakistan is the sixth most populous country in the world and has the second largest Muslim population in the world after Indonesia. The country is listed among the "Next Eleven" economies. Pakistan is a founding member of the Organization of the Islamic Conference, South Asian Association for Regional Cooperation, Developing 8 Countries and the Economic Cooperation Organization. It is also a member of the United Nations, Commonwealth of Nations, World Trade Organization, G33 developing countries, Group of 77 developing nations, major non-NATO ally of the United States and is a nuclear state.
Pakistan is an active member of the United Nations (UN) and the Organisation of the Islamic Conference (OIC), the latter of which Pakistan has used as a forum for Enlightened Moderation, a plan to promote a renaissance and enlightenment in the Muslim world. Pakistan is also a member of the major regional organisations of the South Asian Association for Regional Cooperation (SAARC) and the Economic Cooperation Organisation (ECO).
The structure of the Pakistani economy has changed from a mainly agricultural base to a strong service base. Agriculture now only accounts for roughly 20% of the GDP, while the service sector accounts for 53% of the GDP with wholesale and retail trade forming 30% of this sector.
CITY : KARACHI Coordinates: 24°51′36″N 67°00′36″E24.86, 67.01 Province: Sindh Municipal Committee: 1853 Municipal Corporation: 1933 Metropolitan Corporation: 1976
Area Total: 3,527 km² (1,356 sq mi)
Population (2008) Total: 12,461,423 Density: 3,533.2/km² (9,189.8/sq mi) Area code(s): 021
Karachi is the largest city in Pakistan. It is locally known as the "City of Lights" for its liveliness. Karachi was founded as "Kolachi" by Baloch tribes from Balochistan and Makran who established a small fishing community in the area. Descendants of the original community still live in the area on the small island of Abdullah Goth, which is located near the Karachi Port. The original name "Kolachi" also survives in the name of a well-known Karachi locality named "Mai Kolachi."
In terms of metropolitan population, it is the twentieth largest city of the world, and is Pakistan's premier center of banking, industry, and trade. Karachi is also the home of Pakistan's largest corporations that are involved in entertainment, arts, fashion, advertising, publishing, software development, medical research. It also serves as a major hub of higher education in South Asia, and the wider Islamic World.
Karachi enjoys its prominent position, due to its geographical location on a bay, making it the financial capital of the country. It is one of the fastest growing cities of the South Asia. It was the original capital of Pakistan until the construction of Islamabad, and is the location of Karachi Port, one of the region's largest and busiest ports. The city's population has increased dramatically after the partition of British India forced hundreds of thousands of Urdu speaking "Mohajirs"(Refugees from India) to settle in the city. Since independence from Britain in 1947, the city's vibrant economy has attracted migrants from all over Pakistan, surrounding countries such as Iran, Tajikistan, Burma, Bangladesh, Afghanistan and further beyond.
It generates over 68% of the total national revenue (federal and provincial taxes, customs and surcharges), Although a larger part than this amount account for as indirect tax contribution. Karachi produces about 42 percent of value added in large scale manufacturing and 25% of the GDP of Pakistan. In February 2007, the World Bank identified Karachi as the most business-friendly city in Pakistan.
COMPANY: Hamdard Laboratories (Waqf) Pakistan
Founded: 1948 Industry: Health Care, Food
Hamdard Laboratories (Waqf) Pakistan is a famous pharmaceutical company in Pakistan. It was established in 1948 by Hakim Mohammed Said in Karachi, and became a waqf (non-profitable trust) in 1953. It is associated with Hamdard Foundation, Pakistan a charitable trust, through which it reinvests its profits into charitable activities.
Hakeem Hafiz Abdul Majeed established Hamdard Dawakhana at Delhi, India in 1906. The Dawakhana soon gained a high reputation throughout the city as the finest supplier of herbs and in 1920 acquired the status of one of the finest pharmacies.
Hamdard Laboratories is famous for several products that are household names in Pakistan today viz; Joshanda, Joshina, Safi, Sualin, Sharbat Faula, Suduri and Rooh Afza.
Capital Kuala Lumpur Official languages Malay Government Federal constitutional elective monarchy and Parliamentary democracy
Independence - From the United Kingdom (Malaya only) 31 August 1957 - Federation (with Sabah, Sarawak and Singapore) 16 September 1963
Area - Total 329,847 km² or 127,355 sq mi - Water (%) 0.3 - consists of thirteen states and three federal territories
States (Negeri) West (Peninsula) Malaysia Johor • Kedah • Kelantan • Melaka • Negeri Sembilan • Pahang • Penang • Perak • Perlis • Selangor • Terengganu East Malaysia Sabah • Sarawak
Federal Territories (Wilayah Persekutuan) West (Peninsula) Malaysia Kuala Lumpur • Putrajaya East Malaysia Labuan
- The country is separated into two regions—Peninsular Malaysia and Malaysian Borneo—by the South China Sea - Malaysia borders Thailand, Indonesia, Singapore, Brunei and the Philippines.
Population - Sep 2008 estimate 27,730,000 - 2000 census 24,821,286 - Density 5 84/km² or 218/sq mi
GDP (PPP) 2007 estimate - Total $359.271 billion - Per capita $13,385
GDP (nominal) 2007 estimate - Total $186.718 billion - Per capita $6,956
Currency Ringgit (RM) (MYR)
Religion Islam 60.4% Islam 19.2% Buddhism 9.1% Christianity 6.3% Hinduism 2.6% Chinese 2.4% Animism, Folk religion, Sikhism and other faiths
Malaysia Key Economic Indicators 2007 2008f Population 27.17 million 27.73 million GDP RM503.06 billion RM534.52 billion (US$157.48 billion) (US$167.32 billion) GDP Growth 6.0% 6.0 - 6.5% Per capita income RM22,345 RM23,864 (US$6,994) (US$7,470) Inflation rate 2.0% - Labour force 11.7 million 11.9 million Unemployment 3.3% 3.3% Total export (f.o.b.) RM617.23 billion RM659.14 billion (US$193.22 billion) (US$206.34 billion) Total import (c.i.f.) RM517.26 billion RM559.54 billion (US$161.92 billion) (US$175.16 billion) Major exports Manufactured goods (electrical and electronic products, chemical and chemical products, machinery, appliances and parts, wood products, manufactures of metal as well as optical and scientific equipment) Major imports Intermediate goods (primary and processed food and beverages, primary and processed industrial supplies,primary and processed fuel lubricants, parts and accessories for transport equipment, parts and accessories of capital goods, and thermionic valves and tubes, ). Educated workforce: Malaysia offers investors a young, educated and productive workforce at very competitive costs. Malaysia's literacy rates are high and school leavers entering the job market have at least 11 years of basic education.
Malaysia offers investors a young, educated and productive workforce at costs competitive with other countries in Asia. Backed by the government's continued support of human resource development in all sectors, the quality of Malaysia's workforce is one of the best in the region. Literacy levels are high at more than 94% and school leavers entering the job market have at least 11 years of basic education.
In addition Malaysia registered a significant 4.2% productivity growth in 2007, ranking third after China and India. The growth which was the highest since 2001, has translated to a rise in the productivity of the Malaysian economic. High Priority on Education Education and training are accorded high priority in national development under Malaysia's five-year development plans. Todate, there are more than 17 public and 20 private universities and colleges, as well as various polytechnics and industrial training institutes that offer courses leading to certificate, diploma, degree and post-graduate degree qualifications. Total enrolment in public institutions of higher learning alone is projected to reach over 300,000 with more than half in the science and technical disciplines. The private sector has also set up educational institutions to supplement the government's efforts to generate a larger pool of professionals and semi-professionals. Among these are institutions of higher learning set up by large corporations such as Telekom Malaysia Berhad, Tenaga Nasional Berhad and Petronas which provide degree-level courses. Various private colleges in Malaysia offer degree programmes on a twinning basis with overseas institutions of higher learning, while foreign universities have set up branch campuses in the country. Industrial Training In 1993, the Human Resource Development Fund (HRDF) was launched by the government to encourage training, retraining and skills upgrading in the private sector. Employers, in the manufacturing and service sectors who contribute to this fund are eligible to apply for grants to defray or subsidise the costs incurred in training and retraining their workforce. The Department of Skills Development (DSD) formerly known as the National Vocational Training Council under the Ministry of Human Resources coordinates the setting up of all public and private training institution, evaluates the demand for existing and future skills, identifies future vocational and industrial training needs and will continue to develop standard under the National Occupational Skills Standards (NOSS). To-date, there are more than 700 certified standards which covers certificate, diploma and advanced diploma qualifications. Besides the increasing number of public training institutions such as technical schools, polytechnics, industrial training institutes and skills development centres to meet the growing requirements of the industrial sector, collaborative efforts between the Malaysian government, enterprises and foreign governments have resulted in the establishment of several advanced skills training institutes such as the German-Malaysian Institute, Malaysia France Institute, Japan Malaysia Technical Institute, British Malaysia Institute and Malaysian Spanish Institute. Harmonious Industrial Relations Industrial relations in the country are harmonious with minimal trade disputes that result in strikes. Malaysia's labour laws safeguard the interests and spell out the rights and responsibilities of employers and employees, thus providing a legal framework for the orderly conduct of industrial relations in the country.
Generally, all income of companies and individuals accrued in or derived from sources outside Malaysia and received in Malaysia is liable to tax. However, income remitted to Malaysia by resident companies (other than companies carrying on the business of banking, insurance, air and sea transportation), non-resident companies and non-resident individuals are exempted from tax. From the year 2000, income tax in Malaysia is assessed on income earned in the current year. The assessment system will be changed to a self-assessment system in stages starting 2001.
Effective from the year of assessment 2004, income remitted to Malaysia by a resident individual is exempted from tax.
Company Tax Resident and non-resident companies 26%
Resident companies with paid-up capital of RM2.5 million (US$754,375) and less at the beginning of the basis period for a year of assesment
- on the first RM500,000 (US$150,875) chargeable income 20% - on subsequent chargeable income 26%
Petroleum Income Tax
A person who signed Petroleum Agreement with Petronas or Malaysia-Thailand Authority and carry out petroleum operation.
"Person" includes a company, a partnership or other body of person and corporate sole.
"Petroleum operations" means searching for, winning or obtaining of petroleum in Malaysia (by drilling, mining, extracting etc), all operations incidental thereto and sale or disposal of petroleum so won or obtained, transportation within Malaysia of petroleum so won or obtained to any point of sale or export but excludes transportation outside Malaysia; refining or liquefing; dealing with products so refined or liquefied; service involving the supply and used of rigs, derricks, ocean tankers and barges. 38%
Personal Income Tax
Resident individuals with chargeable income of RM16,667(US$5,029) and above per annum (after deduction of personal reliefs) 1% - 28%
Non-resident individuals (not entitled to any personal reliefs 28%
Note: * Effective from the year of assessment 2009:
Resident individuals will be taxed between 1% - 27%
Non-resident individuals will be taxed at 27% Withholding Tax
Non-resident persons
• Special classes of income (use of moveable property, technical services, installation services on the supply of plant and machinery, etc.) 10%
• Interest 15% • Royalty 10% •
Contract payment on: - account of contractor 10% - account of employee 3%
Sales Tax
Sales tax is imposed on certain imported and locally manufactured goods under the Sales Tax Act 1972. The tax rate ranges from 5 - 10% for majority of the goods except for food preparations other than alcoholic and non-alcoholic compound preparations (other than those of heading No. 33.02) used for making beverages which falls under the tariff code 2106.90.490 with a tax rate of 20%.
Sales tax is also imposed on petroleum and petroleum products according to specific rates. 5% - 10%
Service Tax
Service tax is imposed on taxable services provided by taxable persons. Services include services provided by professionals (such as lawyers, engineers, architects, surveyors, consultants), advertising firms, private hospitals, insurance companies, communication companies, hotels and restaurants.
5%
Excise Duty
Excise duty is levied on imported and locally manufactured goods under the Excise Act 1976. The goods are listed under the Excise Duties Order 2004. Goods include:
Capital allowances are given on qualifying capital expenditure. Initial allowances are given only once while annual allowances are given every year by the straightline method. Some of the items accorded allowances are shown below. For plant and machinery, companies are advised to verify with the Inland Revenue Board on the specific items which qualify.
Initial Allowances
Industrial buildings 10%
Computer and IT equipment 20% Environmental control equipment 40% Heavy machinery & motor vehicles 20% Plant and machinery 20% Others 20%
Annual Allowances
Industrial buildings 3% Computer and IT equipment 40% Environmental control equipment 20%
Plant and machinery
- Motor vehicles, heavy machinery 20% - Plant and machinery 14% - Others 10%
The company office is in Herzliya Pituach, a neighborhood of Herzliya and the epicenter of Israel's tech industry--otherwise known as the Silicon Coast.
Location: Northern Asia (that part west of the Urals is sometimes included with Europe), bordering the Arctic Ocean, between Europe and the North Pacific Ocean
Geographic coordinates: 60 00 N, 100 00 E
Map references: Asia
Area: total: 17,075,200 sq km land: 16,995,800 sq km water: 79,400 sq km
Area—comparative: slightly less than 1.8 times the size of the US
Land boundaries: total: 19,917 km border countries: Azerbaijan 284 km, Belarus 959 km, China (southeast) 3,605 km, China (south) 40 km, Estonia 294 km, Finland 1,313 km, Georgia 723 km, Kazakhstan 6,846 km, North Korea 19 km, Latvia 217 km, Lithuania (Kaliningrad Oblast) 227 km, Mongolia 3,441 km, Norway 167 km, Poland (Kaliningrad Oblast) 206 km, Ukraine 1,576 km
Coastline: 37,653 km
Maritime claims: continental shelf: 200-m depth or to the depth of exploitation exclusive economic zone: 200 nm territorial sea: 12 nm
Climate: ranges from steppes in the south through humid continental in much of European Russia; subarctic in Siberia to tundra climate in the polar north; winters vary from cool along Black Sea coast to frigid in Siberia; summers vary from warm in the steppes to cool along Arctic coast
Terrain: broad plain with low hills west of Urals; vast coniferous forest and tundra in Siberia; uplands and mountains along southern border regions
Elevation extremes: lowest point: Caspian Sea -28 m highest point: Mount El'brus 5,633 m
Natural resources: wide natural resource base including major deposits of oil, natural gas, coal, and many strategic minerals, timber note: formidable obstacles of climate, terrain, and distance hinder exploitation of natural resources
Land use: arable land: 8% permanent crops: 0% permanent pastures: 4% forests and woodland: 46% other: 42% (1993 est.)
Irrigated land: 40,000 sq km (1993 est.)
Natural hazards: permafrost over much of Siberia is a major impediment to development; volcanic activity in the Kuril Islands; volcanoes and earthquakes on the Kamchatka Peninsula
Environment—current issues: air pollution from heavy industry, emissions of coal-fired electric plants, and transportation in major cities; industrial, municipal, and agricultural pollution of inland waterways and sea coasts; deforestation; soil erosion; soil contamination from improper application of agricultural chemicals; scattered areas of sometimes intense radioactive contamination
Environment—international agreements: party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Sulphur 85, Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Wetlands, Whaling signed, but not ratified: Air Pollution-Sulphur 94, Climate Change-Kyoto Protocol
Geography—note: largest country in the world in terms of area but unfavorably located in relation to major sea lanes of the world; despite its size, much of the country lacks proper soils and climates (either too cold or too dry) for agriculture
Foreign Relations and military Japan maintains close economic and military relations with its key ally the United States, with the U.S.-Japan security alliance serving as the cornerstone of its foreign policy. A member state of the United Nations since 1956, Japan has served as a non-permanent Security Council member for a total of 18 years, most recently in 2005–2006. It is also one of the G4 nations seeking permanent membership in the Security Council. As a member of the G8, the APEC, the "ASEAN Plus Three" and a participant in the East Asia Summit, Japan actively participates in international affairs. It is also the world's third largest donor of official development assistance after the United States and United Kingdom, donating US$8.86 billion in 2004. Japan contributed non-combatant troops to the Iraq War but subsequently withdrew its forces from Iraq. Japan is engaged in several territorial disputes with its neighbors: with Russia over the South Kuril Islands, with South Korea over the Liancourt Rocks, with the People's Republic of China and Taiwan over the Senkaku Islands, and with the PRC over the EEZ around Okinotorishima. Japan also faces an ongoing dispute with North Korea over its abduction of Japanese citizens and its nuclear weapons and missile program (see also Six-party talks). As a result of the Kuril Islands dispute, Japan is technically still at war with Russia since no treaty resolving the issue was ever signed Japan's military is restricted by the Article 9 of the Japanese Constitution, which renounces Japan's right to declare war or use military force as a means of settling international disputes. Japan's military is governed by the Ministry of Defense, and primarily consists of the Japan Ground Self-Defense Force (JGSDF), the Japan Maritime Self-Defense Force (JMSDF) and the Japan Air Self-Defense Force (JASDF). The forces have been recently used in peacekeeping operations and the deployment of Japanese troops to Iraq marked the first overseas use of its military since World War II.
Russia Facts: ============= Capital: Moscow (population 10,126,424) Language: Russian and 27 others Currency: Ruble (RUB) Government: Federal semi-presidential republic President: Dmitry Medvedev (Ind.) Prime Minister: Vladimir Putin (UR) Chairman of the Federation Council: Sergey Mironov (FR) Chairman of the State Duma: Boris Gryzlov (UR)
Founded: (862) Novgorodians invited prince Rurik to keep law and order, thus giving birth to the Rurik dynasty that ruled over all Russian lands throughout more than 700 years
Area Total 17,075,400 km² (1st) 6,592,800 sq miles Water (%) 13 %
Population 2008 estimate 142,008,838 (9th) 2002 census 145,166,731 Density 8.3/km² (209th) 21.5/sq m
GDP (PPP) 2007 estimate Total $2,089 trillion[5] (7th) Per capita $14,704[5] (52nd)
GDP (nominal) 2007 estimate Total $1,289 trillion (11th) Per capita $9,074 (54th)
Time zone (UTC+2 to +12) Summer (DST) (UTC+3 to +13) Internet TLD: .ru (.su reserved), (.рф2 2009)
calling code: +7
*****************
Russian Economic History: ======================== For about 60 years, the Russian economy and that of the rest of the Soviet Union operated on the basis of a centrally planned economy, viz. state control over virtually all means of production and over investment, production, and consumption decisions throughout the economy. Economic policy was made according to directives from the Communist Party, which controlled all aspects of economic activity. The central planning system left a number of legacies with which the Russian economy must deal in its transition to a market economy.
Two fundamental and interdependent goals — macroeconomic stabilization and economic restructuring — the transition from central planning to a market-based economy. The former entailed implementing fiscal and monetary policies that promote economic growth in an environment of stable prices and exchange rates. The latter required establishing the commercial, legal, and institutional entities — banks, private property, and commercial legal codes— that permit the economy to operate efficiently. Opening domestic markets to foreign trade and investment, thus linking the economy with the rest of the world, was an important aid in reaching these goals. The Gorbachev regime failed to address these fundamental goals. At the time of the Soviet Union's demise, the Yeltsin government of the Russian Republic had begun to attack the problems of macroeconomic stabilization and economic restructuring. By mid-1996, the results were mixed.
Since the collapse of the Soviet Union in 1991, Russia has tried to develop a market economy and achieve consistent economic growth. In October 1991, Yeltsin announced that Russia would proceed with radical, market-oriented reform along the lines of "shock therapy", as recommended by the United States and IMF. However, this policy resulted in economic collapse, with millions being plunged into poverty and corruption and crime spreading rapidly. Hyperinflation resulted from the removal of Soviet price controls and again following the 1998 Russian financial crisis. Assuming the role as the continuing legal personality of the Soviet Union, Russia took up the responsibility for settling the USSR's external debts, even though its population made up just half of the population of the USSR at the time of its dissolution. When once all enterprises belonged to the state and were supposed to be equally owned amongst all citizens, they fell into the hands of a few, who became immensely rich. Stocks of the state-owned enterprises were issued, and these new publicly traded companies were quickly handed to the members of Nomenklatura or known criminal bosses. For example, the director of a factory during the Soviet regime would often become the owner of the same enterprise. During the same period, violent criminal groups often took over state enterprises, clearing the way by assassinations or extortion. Corruption of government officials became an everyday rule of life. Under the government's cover, outrageous financial manipulations were performed that enriched the narrow group of individuals at key positions of the business and government mafia. Many took billions in cash and assets outside of the country in an enormous capital flight.
MMC stands for "Mining and Metallurgical Company".
MMC Norilsk Nickel is a nickel and palladium mining and smelting operator in the Norilsk–Talnakh area, in northern Russia. Norilsk is headquartered in Moscow and is also active in gold, platinum, copper and cobalt. The company is the world's leading producer of nickel and palladium and is Russia's leading gold producer. It is ranked among the top four world platinum producers, in association with subsidiary Stillwater Mining Company of Billings, Montana and Denver, Colorado. It is ranked among the top ten copper producers.
July 6, 2007 Norilsk Nickel announced it has acquired about 90 per cent of Canada's LionOre Mining International Ltd. LionOre is the world's 10th-largest nickel producer. This takeover (valued in $6.4 billion US) is the biggest acquisition by a Russian company abroad so far. It makes Norilsk Nickel the world's largest nickel producer.
============= History =============
Mining began in the Norilsk area in the 1920s. The government of the USSR created the "Norilsk Combine" in 1935 and passed control to the NKVD at that time. Mining and metal production continued first with Gulag forced labour, later with much volunteer labour, owing to the comparatively good wages offered. In 1993 after the fall of the Soviet Union a joint-stock company was created: RAO Norilsk Nickel.
Starting in 2002, MMC Norilsk Nickel began purchasing gold mining assets, which were spun off in 2005 as Polyus Gold, now a sister company. In 2003, the company took control of Stillwater Mining Company, the only US producer of palladium. Stillwater operates a platinum group metals (PGM) facility in Stillwater, Montana in the USA.
RBS ------------- A heroic deleveraging exercise awaits Stephen Hester, chief executive designate of Royal Bank of Scotland. Tangible equity was just 1.08 per cent of assets at the end of 2007, implying gearing of an astonishing 93 times, according to Dresdner Kleinwort.
Taking into account the equity that will have been raised this year, this should fall to about 43 times by the year’s end. Factor in the latest £20bn infusion and the group’s core tier one capital ratio, on a pro forma basis at September 30, would be 7.9 per cent and its tier one ratio 11.6 per cent. On this basis, RBS will soon be one of the best capitalised banks in Europe.
EDITOR’S CHOICE In depth: UK banks - Nov-03RBS chief blames predecessors for bail-out - Nov-04Economic slowdown eats into RBS trade - Nov-04Shadow of the state falls less darkly - Nov-04Profile: Stephen Hester - Oct-13Lloyds distances itself from government.
======================= Sandeep Goel no-60 OCT 2007 =======================
Some More details for France
Geography France Location: metropolitan France: Western Europe, bordering the Bay of Biscay and English Channel, between Belgium and Spain, southeast of the UK; bordering the Mediterranean Sea, between Italy and Spain French Guiana: Northern South America, bordering the North Atlantic Ocean, between Brazil and Suriname Guadeloupe: Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, southeast of Puerto Rico Martinique: Caribbean, island between the Caribbean Sea and North Atlantic Ocean, north of Trinidad and Tobago Reunion: Southern Africa, island in the Indian Ocean, east of Madagascar Geographic coordinates: metropolitan France: 46 00 N, 2 00 E French Guiana: 4 00 N, 53 00 W Guadeloupe: 16 15 N, 61 35 W Martinique: 14 40 N, 61 00 W Reunion: 21 06 S, 55 36 E Map references: metropolitan France: Europe French Guiana: South America Guadeloupe: Central America and the Caribbean Martinique: Central America and the Caribbean Reunion: World Area: total: 643,427 sq km; 547,030 sq km (metropolitan France) land: 640,053 sq km; 545,630 sq km (metropolitan France) water: 3,374 sq km; 1,400 sq km (metropolitan France) note: the first numbers include the overseas regions of French Guiana, Guadeloupe, Martinique, and Reunion Area - comparative: slightly less than the size of Texas Land boundaries: metropolitan France - total: 2,889 km border countries: Andorra 56.6 km, Belgium 620 km, Germany 451 km, Italy 488 km, Luxembourg 73 km, Monaco 4.4 km, Spain 623 km, Switzerland 573 km French Guiana - total: 1,183 km border countries: Brazil 673 km, Suriname 510 km Coastline: total: 4,668 km metropolitan France: 3,427 km Maritime claims: territorial sea: 12 nm contiguous zone: 24 nm exclusive economic zone: 200 nm (does not apply to the Mediterranean) continental shelf: 200-m depth or to the depth of exploitation Climate: metropolitan France: generally cool winters and mild summers, but mild winters and hot summers along the Mediterranean; occasional strong, cold, dry, north-to-northwesterly wind known as mistral French Guiana: tropical; hot, humid; little seasonal temperature variation Guadeloupe and Martinique: subtropical tempered by trade winds; moderately high humidity; rainy season (June to October); vulnerable to devastating cyclones (hurricanes) every eight years on average Reunion: tropical, but temperature moderates with elevation; cool and dry (May to November), hot and rainy (November to April) Terrain: metropolitan France: mostly flat plains or gently rolling hills in north and west; remainder is mountainous, especially Pyrenees in south, Alps in east French Guiana: low-lying coastal plains rising to hills and small mountains Guadeloupe: Basse-Terre is volcanic in origin with interior mountains; Grande-Terre is low limestone formation; most of the seven other islands are volcanic in origin Martinique: mountainous with indented coastline; dormant volcano Reunion: mostly rugged and mountainous; fertile lowlands along coast Elevation extremes: lowest point: Rhone River delta -2 m highest point: Mont Blanc 4,807 m Natural resources: metropolitan France: coal, iron ore, bauxite, zinc, uranium, antimony, arsenic, potash, feldspar, fluorspar, gypsum, timber, fish French Guiana: gold deposits, petroleum, kaolin, niobium, tantalum, clay Land use: arable land: 33.46% permanent crops: 2.03% other: 64.51% note: French Guiana - arable land 0.13%, permanent crops 0.04%, other 99.83% (90% forest, 10% other); Guadeloupe - arable land 11.70%, permanent crops 2.92%, other 85.38%; Martinique - arable land 9.09%, permanent crops 10.0%, other 80.91%; Reunion - arable land 13.94%, permanent crops 1.59%, other 84.47% (2005) Irrigated land: total: 26,190 sq km; metropolitan France: 26,000 sq km (2003) Total renewable water resources: 189 cu km (2005) Freshwater withdrawal (domestic/industrial/agricultural): total: 33.16 cu km/yr (16%/74%/10%) per capita: 548 cu m/yr (2000) Natural hazards: metropolitan France: flooding; avalanches; midwinter windstorms; drought; forest fires in south near the Mediterranean overseas departments: hurricanes (cyclones), flooding, volcanic activity (Guadeloupe, Martinique, Reunion) Environment - current issues: some forest damage from acid rain; air pollution from industrial and vehicle emissions; water pollution from urban wastes, agricultural runoff Environment - international agreements: party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Seals, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling signed, but not ratified: none of the selected agreements Geography - note: largest West European nation People France Population: total: 64,057,792 note: 62,150,775 in metropolitan France (July 2008 est.) Age structure: 0-14 years: 18.6% (male 6,091,571/female 5,803,127) 15-64 years: 65.2% (male 20,884,919/female 20,849,988) 65 years and over: 16.3% (male 4,335,996/female 6,092,189) (2008 est.) Median age: total: 39.2 years male: 37.7 years female: 40.7 years (2008 est.) Population growth rate: 0.574% (2008 est.) Birth rate: 12.73 births/1,000 population (2008 est.) Death rate: 8.48 deaths/1,000 population (2008 est.) Net migration rate: 1.48 migrant(s)/1,000 population (2008 est.) Sex ratio: at birth: 1.05 male(s)/female under 15 years: 1.05 male(s)/female 15-64 years: 1 male(s)/female 65 years and over: 0.71 male(s)/female total population: 0.96 male(s)/female (2008 est.) Infant mortality rate: total: 3.36 deaths/1,000 live births male: 3.69 deaths/1,000 live births female: 3.02 deaths/1,000 live births (2008 est.) Life expectancy at birth: total population: 80.87 years male: 77.68 years female: 84.23 years (2008 est.) Total fertility rate: 1.98 children born/woman (2008 est.) HIV/AIDS - adult prevalence rate: 0.4% (2003 est.) HIV/AIDS - people living with HIV/AIDS: 120,000 (2003 est.) HIV/AIDS - deaths: fewer than 1,000 (2003 est.) Nationality: noun: Frenchman(men), Frenchwoman(women) adjective: French Ethnic groups: Celtic and Latin with Teutonic, Slavic, North African, Indochinese, Basque minorities overseas departments: black, white, mulatto, East Indian, Chinese, Amerindian Religions: Roman Catholic 83%-88%, Protestant 2%, Jewish 1%, Muslim 5%-10%, unaffiliated 4% overseas departments: Roman Catholic, Protestant, Hindu, Muslim, Buddhist, pagan Languages: French 100%, rapidly declining regional dialects and languages (Provencal, Breton, Alsatian, Corsican, Catalan, Basque, Flemish) overseas departments: French, Creole patois Literacy: definition: age 15 and over can read and write total population: 99% male: 99% female: 99% (2003 est.) School life expectancy (primary to tertiary education): total: 16 years male: 16 years female: 17 years (2006) Education expenditures: 5.7% of GDP (2005) Government Country name: conventional long form: French Republic conventional short form: France local long form: Republique francaise local short form: France Government type: republic Capital: name: Paris geographic coordinates: 48 52 N, 2 20 E time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time) daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October note: applies to metropolitan France only, not to its overseas departments, collectivities, or territories Administrative divisions: 26 regions (regions, singular - region); Alsace, Aquitaine, Auvergne, Basse-Normandie (Lower Normandy), Bourgogne (Burgundy), Bretagne (Brittany), Centre, Champagne-Ardenne, Corse (Corsica), Franche-Comte, Guadeloupe, Guyane (French Guiana), Haute-Normandie (Upper Normandy), Ile-de-France, Languedoc-Roussillon, Limousin, Lorraine, Martinique, Midi-Pyrenees, Nord-Pas-de-Calais, Pays de la Loire, Picardie, Poitou-Charentes, Provence-Alpes-Cote d'Azur, Reunion, Rhone-Alpes note: France is divided into 22 metropolitan regions (including the "territorial collectivity" of Corse or Corsica) and 4 overseas regions (including French Guiana, Guadeloupe, Martinique, and Reunion) and is subdivided into 96 metropolitan departments and 4 overseas departments (which are the same as the overseas regions) Dependent areas: Clipperton Island, French Polynesia, French Southern and Antarctic Lands, Mayotte, New Caledonia, Saint Barthelemy, Saint Martin, Wallis and Futuna note: the US does not recognize claims to Antarctica; New Caledonia has been considered a "sui generis" collectivity of France since 1999, a unique status falling between that of an independent country and a French overseas department Independence: 486 (Frankish tribes unified); 843 (Western Francia established from the division of the Carolingian Empire) National holiday: Fete de la Federation, 14 July (1790); note - although often incorrectly referred to as Bastille Day, the celebration actually commemorates the holiday held on the first anniversary of the storming of the Bastille (on 14 July 1789) and the establishment of a constitutional monarchy; other names for the holiday are Fete Nationale (National Holiday) and quatorze juillet (14th of July) Constitution: adopted by referendum 28 September 1958, effective 4 October 1958 note: amended concerning election of president in 1962; amended to comply with provisions of 1992 EC Maastricht Treaty, 1997 Amsterdam Treaty, 2003 Treaty of Nice; amended to tighten immigration laws in 1993; amended in 2000 to change the seven-year presidential term to a five-year term; amended in 2005 to make the EU constitutional treaty compatible with the Constitution of France and to ensure that the decision to ratify EU accession treaties would be made by referendum Legal system: civil law system with indigenous concepts; review of administrative but not legislative acts; has not accepted compulsory ICJ jurisdiction Suffrage: 18 years of age; universal Executive branch: chief of state: President Nicolas SARKOZY (since 16 May 2007) head of government: Prime Minister Francois FILLON (since 17 May 2007) cabinet: Council of Ministers appointed by the president at the suggestion of the prime minister elections: president elected by popular vote for a five-year term (changed from seven-year term in October 2000); election last held 22 April and 6 May 2007 (next to be held spring 2012); prime minister nominated by the National Assembly majority and appointed by the president election results: Nicolas SARKOZY wins the election; First Round: percent of vote - Nicolas SARKOZY 31.18%, Segolene ROYAL 25.87%, Francois BAYROU 18.57%, Jean-Marie LE PEN 10.44%, others 13.94%; Second Round: SARKOZY 53.1% and ROYAL 46.9% Legislative branch: bicameral Parliament or Parlement consists of the Senate or Senat (331 seats, 305 for metropolitan France, 9 for overseas departments, 5 for dependencies, and 12 for French nationals abroad; members are indirectly elected by an electoral college to serve six-year terms; one third elected every three years); note - between 2006 and 2011, 15 new seats will be added to the Senate for a total of 348 seats - 326 for metropolitan France and overseas departments, 2 for New Caledonia, 2 for Mayotte, 1 for Saint-Pierre and Miquelon, 1 for Saint-Barthelemy, 1 for Saint-Martin, 3 for overseas territories, and 12 for French nationals abroad; starting in 2008, members will be indirectly elected by an electoral college to serve six-year terms, with one-half elected every three years; and the National Assembly or Assemblee Nationale (577 seats, 555 for metropolitan France, 15 for overseas departments, 7 for dependencies; members are elected by popular vote under a single-member majority system to serve five-year terms) elections: Senate - last held 26 September 2004 (next to be held in September 2008); National Assembly - last held 10 and 17 June 2007 (next to be held in June 2012) election results: Senate - percent of vote by party - NA; seats by party - UMP 156, PS 97, UDF (now MoDem) 33, PCF 23, RDSE 15, other 7; National Assembly - percent of vote by party - UMP 46.37%, PS 42.25%, miscellaneous left wing parties 2.47%, PCF 2.28%, NC 2.12%, PRG 1.65%, miscellaneous right wing parties 1.17%, the Greens 0.45, other 1.24%; seats by party - UMP 313, PS 186, NC 22, miscellaneous left wing parties 15, PCF 15, miscellaneous right wing parties 9, PRG 7, the Greens 4, other 6 Judicial branch: Supreme Court of Appeals or Cour de Cassation (judges are appointed by the president from nominations of the High Council of the Judiciary); Constitutional Council or Conseil Constitutionnel (three members appointed by the president, three appointed by the president of the National Assembly, and three appointed by the president of the Senate); Council of State or Conseil d'Etat Political parties and leaders: Democratic Movement or MoDem [Francois BAYROU] (previously Union for French Democracy or UDF); Democratic and Social European Rally or RDSE [Pierre LAFFITTE] (mainly Radical Republican and Socialist Parties, and PRG); French Communist Party or PCF [Marie-George BUFFET]; Greens [Cecile DUFLOT]; Left Radical Party or PRG [Jean-Michel BAYLET] (previously Radical Socialist Party or PRS and the Left Radical Movement or MRG); Movement for France or MPF [Philippe DE VILLIERS]; National Front or FN [Jean-Marie LE PEN]; New Center or NC [Herve MORIN]; Rally for France or RPF [Charles PASQUA]; Republican and Citizen Movement or MRC [Jean Pierre CHEVENEMENT and Georges SARRE]; Socialist Party or PS [Francois HOLLANDE]; Union for a Popular Movement or UMP [Patrick DEVEDJIAN, Jean-Claude GAUDIN, Jean-Pierre RAFFARIN, Pierre MEHAIGNERIE]; Radical Party [Jean-Louis BORLOO] Political pressure groups and leaders: Confederation Francaise Democratique du Travail or CFDT, left-leaning labor union with approximately 803,000 members; Confederation Generale des Cadres or CGC, independent white-collar union with 196,000 members; Confederation Generale du Travail or CGT, historically communist labor union with approximately 700,000 members; Confederation Generale du Travail - Force Ouvriere or FO, independent labor union with an estimated 300,000 members; Mouvement des Entreprises de France or MEDEF, employers' union with 750,000 companies as members (claimed) French Guiana: conservationists; gold mining pressure groups; hunting pressure groups Guadeloupe: Christian Movement for the Liberation of Guadeloupe or KLPG; General Federation of Guadeloupe Workers or CGT-G; General Union of Guadeloupe Workers or UGTG; Movement for an Independent Guadeloupe or MPGI; The Socialist Renewal Movement Martinique: Caribbean Revolutionary Alliance or ARC; Central Union for Martinique Workers or CSTM; Frantz Fanon Circle; League of Workers and Peasants; Proletarian Action Group or GAP Reunion: NA International organization participation: ADB (nonregional members), AfDB (nonregional members), Arctic Council (observer), Australia Group, BDEAC, BIS, BSEC (observer), CBSS (observer), CE, CERN, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, FZ, G-5, G-7, G-8, G-10, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, InOC, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURCAT, MINURSO, MINUSTAH, NATO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, Paris Club, PCA, PIF (partner), Schengen Convention, SECI (observer), SPC, UN, UN Security Council, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, Union Latina, UNITAR, UNMEE, UNMIL, UNOCI, UNOMIG, UNRWA, UNTSO, UNWTO, UPU, WADB (nonregional), WCL, WCO, WEU, WFTU, WHO, WIPO, WMO, WTO, ZC
Flag description: three equal vertical bands of blue (hoist side), white, and red; known as the "Le drapeau tricolore" (French Tricolor), the origin of the flag dates to 1790 and the French Revolution; the design and/or colors are similar to a number of other flags, including those of Belgium, Chad, Ireland, Cote d'Ivoire, Luxembourg, and Netherlands; the official flag for all French dependent areas Economy France Economy - overview: France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. Widespread opposition to labor reform has in recent years hampered the government's ability to revitalize the economy. In 2007, the government launched divisive labor reform efforts that will continue into 2008. France's tax burden remains one of the highest in Europe (nearly 50% of GDP in 2005). France brought the budget deficit within the eurozone's 3%-of-GDP limit for the first time in 2007 and has reduced unemployment to roughly 8%. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. GDP (purchasing power parity): $2.075 trillion (2007 est.) GDP (official exchange rate): $2.56 trillion (2007 est.) GDP - real growth rate: 2.1% (2007 est.) GDP - per capita (PPP): $32,600 (2007 est.) GDP - composition by sector: agriculture: 2.2% industry: 20.6% services: 77.2% (2007 est.) Labor force: 27.91 million (2007 est.) Labor force - by occupation: agriculture: 4.1% industry: 24.4% services: 71.5% (1999) Unemployment rate: 7.9% (2007 est.) Population below poverty line: 6.2% (2004) Household income or consumption by percentage share: lowest 10%: 3% highest 10%: 24.8% (2004) Distribution of family income - Gini index: 28 (2005) Inflation rate (consumer prices): 1.5% (2007 est.) Investment (gross fixed): 21.5% of GDP (2007 est.) Budget: revenues: $1.287 trillion expenditures: $1.356 trillion (2007 est.) Public debt: 63.9% of GDP (2007 est.) Agriculture - products: wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish Industries: machinery, chemicals, automobiles, metallurgy, aircraft, electronics; textiles, food processing; tourism Industrial production growth rate: 1.8% (2007 est.) Electricity - production: 543.6 billion kWh (2005) Electricity - consumption: 451.5 billion kWh (2005) Electricity - exports: 68.33 billion kWh (2005) Electricity - imports: 8.035 billion kWh (2005) Oil - production: 73,180 bbl/day (2005 est.) Oil - consumption: 1.999 million bbl/day (2005 est.) Oil - exports: 474,200 bbl/day (2005) Oil - imports: 1.89 million bbl/day (2005) Oil - proved reserves: 158.4 million bbl (1 January 2006 est.) Natural gas - production: 1.4 billion cu m (2004 est.) Natural gas - consumption: 47.26 billion cu m (2005 est.) Natural gas - exports: 863.2 million cu m (2005 est.) Natural gas - imports: 47.02 billion cu m (2005 est.) Natural gas - proved reserves: 341 billion cu m (1 January 2006 est.) Current account balance: -$31.25 billion (2007 est.) Exports: $546 billion f.o.b. (2007 est.) Exports - commodities: machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages Exports - partners: Germany 14.9%, Spain 9.3%, Italy 8.9%, UK 8.1%, Belgium 7.3%, US 6.1%, Netherlands 4.1% (2007) Imports: $600.9 billion f.o.b. (2007 est.) Imports - commodities: machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals Imports - partners: Germany 18.9%, Belgium 11.4%, Italy 8.4%, Spain 7.1%, Netherlands 7%, UK 5.6%, US 4.4%, China 4% (2007) Economic aid - donor: ODA, $10.6 billion (2006) Reserves of foreign exchange and gold: $115.7 billion (2006 est.) Debt - external: $4.396 trillion (30 June 2007) Stock of direct foreign investment - at home: $942.3 billion (2007 est.) Stock of direct foreign investment - abroad: $1.307 trillion (2007 est.) Market value of publicly traded shares: $1.71 trillion (2005) Currency (code): euro (EUR) Exchange rates: euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003) Fiscal year: calendar year Communications France Telephones - main lines in use: 35.533 million; 34.8 million (metropolitan France) (2007) Telephones - mobile cellular: 56.719 million; 55.358 million (metropolitan France) (2007) Telephone system: general assessment: highly developed domestic: extensive cable and microwave radio relay; extensive introduction of fiber-optic cable; domestic satellite system international: country code - 33; numerous submarine cables provide links throughout Europe, Asia, Australia, the Middle East, and US; satellite earth stations - more than 3 (2 Intelsat (with total of 5 antennas - 2 for Indian Ocean and 3 for Atlantic Ocean), NA Eutelsat, 1 Inmarsat - Atlantic Ocean region); HF radiotelephone communications with more than 20 countries overseas departments: country codes: French Guiana - 594; Guadeloupe - 590; Martinique - 596; Reunion - 262 Radio broadcast stations: AM 41, FM about 3,500 (this figure is an approximation and includes many repeaters), shortwave 2 (1998) Television broadcast stations: 584 (plus 9,676 repeaters) (1995) Internet country code: metropolitan France - .fr; French Guiana - .gf; Guadeloupe - .gp; Martinique - .mq; Reunion - .re Internet hosts: 12.556 million; 12,555,000 (metropolitan France) (2007) Internet users: 31.295 million; 30.838 million (metropolitan France) (2007) Transportation France Airports: 476 (2007) Airports - with paved runways: total: 292 over 3,047 m: 14 2,438 to 3,047 m: 27 1,524 to 2,437 m: 97 914 to 1,523 m: 80 under 914 m: 74 (2007) Airports - with unpaved runways: total: 184 1,524 to 2,437 m: 4 914 to 1,523 m: 72 under 914 m: 108 (2007) Heliports: 3 (2007) Pipelines: gas 14,665 km; oil 3,032 km; refined products 4,947 km (2007) Railways: total: 29,370 km standard gauge: 29,203 km 1.435-m gauge (14,778 km electrified) narrow gauge: 167 km 1.000-m gauge (2006) Roadways: total: 951,500 km paved: 951,500 km (metropolitan France; includes 10,950 km of expressways) note: there are another 5,100 km of roadways in overseas departments (2006) Waterways: metropolitan France: 8,500 km (1,686 km accessible to craft of 3,000 metric tons) French Guiana: 3,760 km (460 km navigable by small oceangoing vessels and coastal and river steamers, 3,300 km by native craft) (2006) Merchant marine: total: 138 by type: bulk carrier 2, cargo 1, chemical tanker 32, container 25, liquefied gas 12, passenger 3, passenger/cargo 33, petroleum tanker 23, roll on/roll off 7 foreign-owned: 38 (Belgium 6, China 5, Denmark 2, Germany 1, Italy 2, Japan 1, NZ 1, Norway 5, Saudi Arabia 1, Singapore 2, Sweden 9, Switzerland 1, Switzerland 2) registered in other countries: 127 (Antigua and Barbuda 1, Australia 1, Bahamas 30, Belgium 2, Bermuda 1, Hong Kong 1, Indonesia 1, Isle of Man 1, Italy 2, Liberia 5, Luxembourg 17, Malta 5, Morocco 14, Netherlands 1, Norway 3, Panama 5, Saint Vincent and the Grenadines 6, Singapore 1, Taiwan 1, UK 23, Wallis and Futuna 6) (2008) Ports and terminals: Bordeaux, Calais, Dunkerque, Le Havre, Marseille, Nantes, Paris, Rouen, Strasbourg Military France Military branches: Army (Armee de Terre; includes Marines, Foreign Legion, Army Light Aviation), Navy (Marine Nationale, includes Naval Air), Air Force (Armee de l'Air, includes Air Defense), National Gendarmerie (2008) Military service age and obligation: 17-40 years of age for male or female voluntary military service); no conscription; 12-month service obligation; women serve in noncombat military posts (2005) Manpower available for military service: males age 16-49: 14,646,427 females age 16-49: 14,379,630 (2008 est.) Manpower fit for military service: males age 16-49: 12,110,718 females age 16-49: 11,849,988 (2008 est.) Manpower reaching militarily significant age annually: male: 401,379 female: 382,409 (2008 est.) Military expenditures: 2.6% of GDP (2005 est.) Transnational Issues France Disputes - international: Madagascar claims the French territories of Bassas da India, Europa Island, Glorioso Islands, and Juan de Nova Island; Comoros claims Mayotte; Mauritius claims Tromelin Island; territorial dispute between Suriname and the French overseas department of French Guiana; France asserts a territorial claim in Antarctica (Adelie Land); France and Vanuatu claim Matthew and Hunter Islands, east of New Caledonia Illicit drugs: metropolitan France: transshipment point for South American cocaine, Southwest Asian heroin, and European synthetics French Guiana: small amount of marijuana grown for local consumption; minor transshipment point to Europe Martinique: transshipment point for cocaine and marijuana bound for the US and Europe
Saudi Arabia is the birthplace of Islam and home to Islam's two holiest shrines in Mecca and Medina. The king's official title is the Custodian of the Two Holy Mosques. The modern Saudi state was founded in 1932 by ABD AL-AZIZ bin Abd al-Rahman AL SAUD (Ibn Saud) after a 30-year campaign to unify most of the Arabian Peninsula. A male descendent of Ibn Saud, his son ABDALLAH bin Abd al-Aziz, rules the country today as required by the country's 1992 Basic Law. Following Iraq's invasion of Kuwait in 1990, Saudi Arabia accepted the Kuwaiti royal family and 400,000 refugees while allowing Western and Arab troops to deploy on its soil for the liberation of Kuwait the following year. The continuing presence of foreign troops on Saudi soil after the liberation of Kuwait became a source of tension between the royal family and the public until all operational US troops left the country in 2003. Major terrorist attacks in May and November 2003 spurred a strong on-going campaign against domestic terrorism and extremism. King ABDALLAH has continued the cautious reform program begun when he was crown prince. To promote increased political participation, the government held elections nationwide from February through April 2005 for half the members of 179 municipal councils. In December 2005, King ABDALLAH completed the process by appointing the remaining members of the advisory municipal councils. The country remains a leading producer of oil and natural gas and holds more than 20% of the world's proven oil reserves. The government continues to pursue economic reform and diversification, particularly since Saudi Arabia's accession to the WTO in December 2005, and promotes foreign investment in the kingdom. A burgeoning population, aquifer depletion, and an economy largely dependent on petroleum output and prices are all ongoing governmental concerns.
SWITZERLAND Basic food items: Food, ingredients and the way to prepare it varies greatly all over the country. Generally speaking, basic food items include a huge selection of bread (white, whole wheat etc.), dairy products such as milk, yogurt, butter and - of course - a great variety of the world famous Swiss cheese. Also important are vegetables including beans, carrots, cauliflower, potatoes, spinach etc. Sausages and meat - mainly veal, beef, pork, chicken or turkey - are served in many different ways: grilled, cooked, sliced or cut. Side dishes include French fries, rice, potatoes and different types of pasta. Fruits are available from all over the world, locally grown fruits include apples, pears, grapes and different types of berries, such as black berries, blueberries, raspberries, red currants and strawberries. Finally, there are a lot of sweets, including the second type of food that Switzerland is world famous for: Swiss chocolate. What do people eat and drink: In Switzerland, breakfast typically includes bread, butter or margarine, marmalade or honey, maybe some cheese or cereals, plus milk, cold or hot chocolate, tea or coffee. Lunch may be as simple as a sandwich or a birchermüesli or it could be a complete meal. Depending on what people had for lunch, dinner can be a full main course or just some bread, cheese, maybe some dried meat or any other light meal. Drinks range from plain water, over different types of soft drinks including most internationally well known brands plus some local products, to a great variety of beers and wines. Hot drinks include many different flavors of tea and coffee. Going out to eat: There are many different places to go out to eat in Switzerland. It starts with fast food, such as burger, fish and chips etc., continues with self service restaurants and what people in the U.S. use to call a family restaurant where you get all the regular menus and ends with spectacular (and very expensive) restaurants, where to eat is supposed to be an "experience". Food is quite expensive in Switzerland, at least compared to most European countries and especially compared to the U.S. If you go to a fast food place, you may easily spend up to CHF 10 for a burger, a soft drink and a coffee. In a family restaurant, a menu will cost somewhere between CHF 15 and 50, self service restaurants are somewhat less expensive. At a more fancy restaurant, one can spend as much as CHF 1000 just for a bottle of wine ... Common menus include a great variety of pasta, potatoes prepared in many different ways, vegetables, meat (veal, beef, pork, chicken and even horse), fish (mainly fresh water fish), but also sea food. Vegetarian menus have become more popular during the last few years, most restaurants provide at least one vegetarian menu as a main course. In addition, salad is very popular as well. The most important part of course is desert. This includes cheese, but even more important any flavor of cakes or cookies. Create the right ambience
Swiss people do not only love good food, they also appreciate a beautiful decorated table, like the table shown on the left, decorated for a Christmas dinner. Fondue
This is probably the most famous swiss menu. Fondue is made out of molten cheese. We eat it by dipping small pieces of bread in the molten cheese. The secret lies in the right mixture of different flavors of cheese. Typically, fondue is served on cold winter days, but many restaurants serve it all your round Salat (salad)
Salads have a long tradition in Switzerland and are served in many different flavors, either as a side order or as a full meal.
I have picked up Melbourne, Australia. Company: Agilent Technologies.
The population is just over 21.3 million, with approximately 60% of the population concentrated in and around the mainland state capitals of Sydney, Melbourne, Brisbane, Perth, and Adelaide.
Australia's per capita GDP is slightly higher than that of the UK, Germany, and France in terms of purchasing power parity. The country was ranked third in the United Nations 2007 Human Development Index, first in the 2008 Prosperity Index, and sixth in The Economist worldwide Quality-of-Life Index for 2005.
Balance of Payment & GDP:
Australia has a balance of payments that is more than 7% of GDP negative, and has had persistently large current account deficits for more than 50 years.[45] Australia has grown at an average annual rate of 3.6% for over 15 years.
Melbourne: The discovery of gold in Victoria in the 1850s led to the Victorian gold rush, and the rapid growth of the city, which provided most of service industries and served as the major port for the region.
Melbourne has the second largest Asian population in Australia, which includes the largest Vietnamese, Indian and Sri Lankan communities in the country
Agilent in Australia:
There are substantial R&D & Manufacturing operations in Melbourne. Most of the Research in Life sciences & Chemical Analysis for Agilent is done in Melbourne with one of the most advanced LAB infrastructure present there. Autralian Laws & industry in & around Melbourne are also condusive to LSCA R&D.
Dear All In view of market trends that by 2015, 5billion people on this world will be connected either through Mobile or Broadband. There is a need to enable connectivity and especially among the people of emerging markets who rate very low on connectivity scorecard. The Connectivity Scorecard is a pioneering global information and communications technology (ICT) index that measures the extent to which governments, businesses and consumers make use of connectivity technologies to enhance social and economic prosperity.
To enable this connectivity Nokia has pioneered the lead in bringing the web to emreging markets. Pls read this story
"The World's Most Global Cities- A new study which compiles a list of the world's most global cities, weighing financial as well as cultural and political influence"
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Country : Sri Lanka City: Peliyagoda Company: Dilmah
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka (known as Ceylon before 1972) is an island nation in South Asia, located about 31 kilometres (19.3 mi) off the southern coast of India. It is home to around twenty million people. Because of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia, and has been a center of Buddhist religion and culture from ancient times. Today, the country is a multi-religious and multi-ethnic nation, with more than a quarter of the population following faiths other than Buddhism, notably Hinduism, Christianity and Islam. The Sinhalese community forms the majority of the population, with Tamils, who are concentrated in the north and east of the island, forming the largest ethnic minority. Other communities include the Muslim Moors and Malays and the Burghers. Famous for the production and export of tea, coffee, coconuts and rubber, Sri Lanka boasts a progressive and modern industrial economy and the highest per capita income in South Asia. The natural beauty of Sri Lanka's tropical forests, beaches and landscape, as well as its rich cultural heritage, make it a world famous tourist destination. History After over two thousand years of rule by local kingdoms, parts of Sri Lanka were colonized by Portugal and the Netherlands beginning in the 16th century, before the control of the entire country was ceded to the British Empire in 1815. During World War II, Sri Lanka served as an important base for Allied forces in the fight against the Japanese Empire.[5] A nationalist political movement arose in the country in the early 20th century with the aim of obtaining political independence, which was eventually granted by the British after peaceful negotiations in 1948. Geography & Climate The island of Sri Lanka lies in the Indian Ocean, to the southwest of the Bay of Bengal and to the southeast of the Arabian Sea. It is separated from the Indian subcontinent by the Gulf of Mannar and the Palk Strait.[13] According to Hindu mythology, a land bridge to the Indian mainland, known as Rama's Bridge, was constructed during the time of Rama by the vanara architect Nala. Often referred to as Adam's Bridge, it now amounts to only a chain of limestone shoals remaining above sea level.[13] According to colonial British reports, this is a natural causeway which was formerly complete, but was breached by a violent storm in 1480.[14] The width of the Palk Strait is small enough for the coast of Sri Lanka to be visible from the furthest point near the Indian town of Rameswaram.[citation needed] The tear drop shaped island consists mostly of flat-to-rolling coastal plains, with mountains rising only in the south-central part. Amongst these are Sri Pada (Adams Peak) and the highest point Pidurutalagala, at 2,524 meters (8,281 ft). The Mahaweli ganga (Mahaweli river) and other major rivers provide fresh water to the population.[15] Sri Lanka's climate can be described as tropical, and quite hot. Its position between 5 and 10 north latitude endows the country with a warm climate, moderated by ocean winds and considerable moisture.[16] The mean temperature ranges from a low of 16 °C (61 °F) in Nuwara Eliya in the Central Highlands (where frost may occur for several days in the winter) to a high of 32 °C (90 °F) in Trincomalee on the northeast coast (where temperatures may reach 38 °C (100 °F)). The average yearly temperature for the country as a whole ranges from 28° to 30 °C (82–86 °F). Day and night temperatures may vary by 4 to 7 °C (7–13 °F). Government and politics The Constitution of Sri Lanka establishes a democratic, socialist republic in Sri Lanka, which is also a unitary state. The government is a mixture of the presidential system and the parliamentary system. The President of Sri Lanka is the head of state, the commander in chief of the armed forces, as well as head of government, and is popularly elected for a six-year term. In the exercise of duties, the President is responsible to the Parliament of Sri Lanka, which is a unicameral 225-member legislature. The President appoints and heads a cabinet of ministers composed of elected members of parliament. The President's deputy is the Prime Minister, who leads the ruling party in parliament and shares many executive responsibilities, mainly in domestic affairs.[22] Members of parliament are elected by universal (adult) suffrage based on a modified proportional representation system by district to a six-year term. The primary modification is that, the party that receives the largest number of valid votes in each constituency gains a unique "bonus seat." The president may summon, suspend, or end a legislative session and dissolve Parliament any time after it has served for one year. The parliament reserves the power to make all laws. On July 1, 1960 the people of Sri Lanka elected the first-ever female head of government in Prime Minister Sirimavo Bandaranaike. Her daughter Chandrika Kumaratunga served multiple terms as prime minister and as president from 1999 to 2005. The current president and prime minister, both of whom took office on November 21, 2005, are Mahinda Rajapaksa and Ratnasiri Wickremanayake respectively. Sri Lanka has enjoyed democracy with universal suffrage since 1931. Politics in Sri Lanka are controlled by rival coalitions led by the left-wing Sri Lanka Freedom Party, headed by President Rajapaksa, the comparatively right-wing United National Party led by former prime minister Ranil Wickremesinghe and Marxist-Nationalist JVP. There are also many smaller Buddhist, socialist and Tamil nationalist political parties that oppose the separatism of the LTTE but demand regional autonomy and increased civil rights. Since 1948, Sri Lanka has been a member of the Commonwealth of Nations and the United Nations. It is also a member of the Non-Aligned Movement, the Colombo Plan, Asia-Pacific Economic Cooperation and the South Asian Association for Regional Cooperation. Through the Cold War-era, Sri Lanka followed a foreign policy of non-alignment but has remained closer to the United States and Western Europe. The military of Sri Lanka comprises the Sri Lankan Army, the Sri Lankan Navy and the Sri Lankan Air Force. These are administered by the Ministry of Defence. Since the 1980s, the army has led the government response against the Marxist militants of the JVP and now the LTTE militant forces. Sri Lanka receives considerable military assistance from Pakistan and China.[23] Sri Lanka was considered one of the "world's most politically unstable countries" by the World Bank and Asian Development Bank in 2004.[24] The Economist labels Sri Lanka a "flawed democracy" in its 2006 rankings (ranking 57 and positioned among 54 other flawed ranked ones)[25] and Foreign Policy ranks Sri Lanka 25th (Alert Category) in its Failed States Index[26] for 2007. However, Sri Lanka, according to the US State Department in 2005, was classified a "stable democracy" amidst a ceasefire period of the long running civil war.[27] Company: Dilmah Dilmah is the product of a lifetime devoted to tea Dilmah is a very special tea. Dilmah Founder - Merrill J. Fernando - set out in the 1950s to offer tea drinkers the finest tea on earth. Whilst doing so, he desired to make his a genuinely ethical brand. It took nearly four decades for Merrill to fulfil his mission, but in 1988 he launched his family tea - Dilmah - the first producer owned tea brand in the world, handpicked, perfected and packed at source and shipped within days to tea drinkers around the world. Merrill devoted his life to tea. Together with his sons Dilhan and Malik, whose names make up the name Dilmah, Merrill leads an ethical family business which has changed the world of tea. History of Ceylon Tea Tea originated in China, as legend has it, 5,000 years ago with Chinese emperor Shen Nung claiming the health benefits of tea in 2737 BC. However it was Ceylon (now Sri Lanka) that made tea famous in the 19th and 20th Centuries. Scotsman James Taylor is attributed to planting the first tea estate in Sri Lanka. It was in 1867 that Taylor planted 20 acres of tea on the Loolecondera estate (of which he was superintendent). It was here he perfected the technique of fine plucking - `two leaves and a bud.' Ceylon tea became the front-runner of the industry and was much loved for its unmatched quality and variety. The alchemy of land, sun and rain in the Paradise Island of Ceylon, as it was known then, presented the ideal climatic conditions for cultivation of tea. Ceylon added a new dimension to tea by producing variations in taste, quality, character and appearance, largely based on terroir of the region. Ceylon tea with its distinct taste and character became every consumer's favourite cuppa. However this changed when the Ceylon Tea industry was taken over by multinationals about 40 years ago. Their criteria for success changed from quality, authenticity and in some cases to freshness, to more commercial and profit oriented factors. They moved away from Ceylon tea to multi origin blends, a mixture of tea from several countries, to offer a cheaper product. Thus they commoditized tea and this led to a decline in demand for Ceylon tea - which was neither a commodity or cheap. When Merrill J. Fernando embarked on his journey in tea, almost 58 years ago, he sought to bring quality tea,Ceylon tea, back to consumers. Choosing to remain faithful to Ceylon Tea, acknowledged the finest tea on earth, Dilmah introduced lovers of fine tea to the pioneering concept of tea 'picked, perfected and packed' at origin. Single Origin Tea. There are three main tea growing regions in Sri Lanka. These are, Low grown teas which are teas grown on an elevation between sea level to 600m, Mid Grown teas which are from 600m to 1,200m and High grown teas which are grown at an elevation above 1,200m. The taste, flavour and aroma of teas from each region are influenced by the conditions particular to those regions. Low grown teas, which are subjected to long periods of sunshine, dry and somewhat warm and moist conditions, exhibit a burgundy brown liquor and a malt, heavy note with black leaf appearance. Whereas High grown teas grown on an elevation of around 3,000 feet would be dramatically different - depending on the time of year, influenced by the chill winds, dry and cool conditions these teas are likely to be extraordinarily light, with greenish, grassy tones in honey golden liquors.
City: Colombo District - Peliyagoda Peliyagoda is a suburb of Colombo but very close to the City centre. It is outside the Colombo Municipality and is on the bank of Kelani river Peliyagoda is the first suburb you meet on the Colombo Kandy Road immediately after passing the Colombo City limits. Colombo and Peliyagoda is separated by Kelani River and the two are linked by New Kelani Bridge . ( Theold KelaniBridge liksPeliyagida to Grandpass of Combo.) Peliyagoda is surrounded by Kiribathgoda, Wattala and Colombo. Peliyagoda cannot be reached by train although the Railway passes through Peliyagoda. The closest Railway Station is Kelaniya Railway Station. The Kandy Road and Negombo Road enter Colombo through Peliyagoda. Apart from Colombo the closest Towns to Peliyagoda are Kelaniya and Wattala. . To the north of Peliyagodais a large mass of Marshes through which the proposed Express High Way to Katunayaka Airport and Negombo is due to pass through. Peliyagoda was best known for the leading centre for Buddhist Education called ?Vidyalankara Pirivena? which has attracted Buddhist Scholars from all over the world. It still remains one of the two leading centers for educating Buddhist monks.
In Global Oil scenario some incidents are important.These incidents are responsible for current scenario in Global Market. These steps can be divided in time frames. 1.1947-1959 Western recognition of the need to assert control over world oil stocks Proposals from International Co-operative Alliance, USA, to place Middle East oil under UN control, 1947/1948 50/50 tax legislation introduced between Saudi Arabia and ARAMCO, 1951 Boycott of oil supplies to Israel 1953 50/50 tax legislation Kuwait, 1954 Proposal for a 75/25 system of tax legislation, 1955 Venezuelan response to the First Arab Oil Experts Congress, 1957 First Arab League Petroleum Congress, Cairo, 1959 2.1960-1963 Oil company plans to cut posted prices, 1960 Middle East support for the alternative plans outlined by Peres Alfonso, Venezuelan Minister of Mines, 1960 The creation of OPEC, 1960. Founder members: Iran; Iraq; Kuwait; Saudi Arabia; Venezuela Resolutions from the 1st , 2nd and 3rd conferences Qatar becomes an full member of OPEC, 1961 Arab Economic League Council’s proposals for an Arab tanker fleet and pipeline, 1961 Iraq’s demands to increase control of petroleum operations and finances, 1961 OPEC interest in Russian Oil policy, 1961 Iraq/Kuwait dispute, 1961 Reactions in Qatar to the 4th Conference resolutions OPEC calls for negotiations on oil prices based on posted prices and for long term price policy, on royalty payments and on marketing expenses, 1962 Indonesia and Libya become full members of OPEC, 1962 Negotiations between Iran and the Consortium, and Saudi Arabia and ARAMCO, 1962 Oil companies accept the principle of OPEC, and Mr Rouhani in particular, negotiating on behalf of member states, 1963 Venezuela and OPEC begin to have diverging aims, 1963 3.1963-1966 OPEC negotiates with oil companies on behalf of Iran, 1963 British liaison with US State Dept over oil company terms, 1963 Mr Rouhani to represent Saudi Arabia with ARAMCO and Libya with Esso, 1963 Iran and Saudi Arabia agree to Consortium offer ahead of OPEC conference, Beirut 1963 OPEC rejects Consortium offer at Beirut conference Iraq and Venezuela hold opposing position to Iran, early 1964 Iran’s position within OPEC and the view of the Shah, 1964 ARAMCO negotiations with Saudi Arabia, 1964 Saudi Arabia and Iran liaise on oil company negotiations, 1964 Issue of expensing royalties dominates the 6th Conference, 1964 Commitment by all member states to progressing Resolution IV.32 - on posted prices Oil companies concede on the Arbitration Clause, January 1965 OPEC moves from Geneva to Vienna, 1965 Resolution IX.61: possible introduction of a planned production programme to limit price falls, 1965 Saudi Arabian comment on the revision of the royalty and expensing payment systems, 1966 4.1967-1971 Western opinions regarding the political aspects of the Sixth Arab Petroleum Congress, March 1967 United Arab Emirates become an full member of OPEC, 1967 OPEC having only moderate influence on production programming in Saudi Arabia, 1967 Impact of the Six-Day War: the Arab oil boycott, 1967 UK and US concerns about oil supply, 1967 ARAMCO offer to Saudi Arabia on royalty expensing and the elimination of discounts in return for the reopening of Tapline and the Suez Canal, 1967 The Second International Symposium on Energy, Rome 1968: OPEC statement reporting oil companies agreement to phase out the royalty-expensing allowances between 1967 and 1974 OPEC interest in European energy markets, 1968 Creation of the Organization of Arab Petroleum Exporting Countries, 1968, with statement of the aims of OAPEC by Shaikh Zaki Yamani Meeting of the Representatives of the National Oil Companies of OPEC member countries, 1968 Views held by Shaikh Zaki Yamani as the spokesman for OAPEC, 1968 Libyan moves upon the OPEC Conservation Law, (Petroleum Regulation 8), 1968 Global oil problems: disruption to Middle East oil supplies; slow down in off-take; world oil prices, 1969 Algeria becomes an full member of OPEC, 1969 Revolution in Libya and the new regime, 1969 The potential impact on US oil interests of their political policy in the Middle East, 1969 Implementation and enforcement of Petroleum Conservation regulation No. 8 by Libya, 1969 Libya negotiates successfully with the oil companies, with particular reference to posted prices, 1970 OPEC support for the Algerian Government, 1970 Iran, Iraq, Kuwait, Libya and Saudi Arabia create an Inter-ministerial Committee on the implementation of the principle of participation, 1970 Co-ordination of a joint approach by consumer-countries to negotiations with OPEC, 1970 Major oil companies set about creating a joint oil company organisation, 1971 Nigeria becomes an full member of OPEC, 1971 Two ‘factions’ emerge within OPEC: the Gulf producers; and the Mediterranean group, 1971 Oil companies’ strategy for negotiations with both groups: proposals to be presented simultaneously at Tehran and Tripoli, 1971 5.1971-1972 The Tehran Agreement, 1971 relating to the Gulf countries of Abu Dhabi, Iran, Iraq, Kuwait, Qatar and Saudi Arabia Implications of the Tehran agreement for the Mediterranean group, 1971 OPEC expresses concerns about the devaluation of the dollar, 1971 British government takes opposite view to oil companies regarding conceding the principle of participation, 1971 The Three Nation Committee intend to negotiate on behalf of the Gulf producers in seeking both host-country participation in existing concessions and an offset in real income to compensate for the current monetary crisis and the weak dollar, 1971 Governments and oil companies agree to act jointly in negotiations with OPEC and agree to reactivation of the London Policy Group, 1971 UK fears a threat to oil supplies, Libya seizes £294,000 from ESSO, 1971 Libya nationalises BP, 1971 OECD reviews its relationship with OPEC, 1971 Agreement reached on dollar parity, 1971 Further negotiations on participation at Geneva, 1972 6.1972-1973 The principle of participation examined further by the British Government, 1972 ARAMCO/Saudi Arabia and the Consortium/Iran participation negotiations break down, 1972 Saudi Arabian attitudes harden as US major oil companies use hostile tactics, 1972 Iran moves towards greater involvement in oil production independently of OPEC, 1972 ARAMCO reports its concession of the principle of 20% participation to the London Policy Group, 1972 Kuwait Oil Company agrees to 20 % participation, 1972 British government anxious to avoid disruption of supply, 1972 Iraq nationalises IPC, 1972 Algeria associates the nationalisation of the oil company with the battle of the Palestinian people and urges other Arab countries to acquire sovereignty of their oil reserves, 1972 OPEC passes a resolution supporting Iraq, 1972 Saudi Arabia/ARAMCO negotiations stall on the issue of compensation, 1972 Agreement reached in Iran, 1972 Agreement reached in Saudi Arabia: updated book value is accepted in return for security of supply, 1972 Kuwaiti concerns over the timetable for 51% participation because of fears over depletion of reserves and the issue of buy-back oil, 1972 Negotiations on participation continue in Libya, 1972 Saudi Arabia and Abu Dhabi secure agreements on participation, 1972 Kuwait and Qatar sign the participation agreement, 1973 Iran and Iraq reach agreement with the Consortium, IPC and NIOC, 1973 OPEC discusses economic growth and dollar devaluation, 1973 Consumer countries propose an anti-OPEC coalition, 1973 The Geneva Agreement on currency parity changes is renegotiated, 1973 The transformation of the Arab position by their ability to use oil for political purposes, 1973 Code of practice on pollution to be drawn up, 1973 The negotiations in Vienna, October 1973, signal the final complete transfer of control over the price system into the hands of the producers OPEC secures a 70% increase in the posted prices, 1973 OAPEC uses the ‘oil weapon’ to support Egypt and Syria in their war against Israel, 1973 Embargoes on the USA and the Netherlands, 1973 Shaikh Ahmed Yamani and Belaid Abdesselam visit oil importing countries to explain the policy objectives of the Arab oil restrictions, 1973 OPEC seeks to create a pricing policy, 1973 OPEC approves a dramatic increase in the price of Arabian crude, December 1973, for the start of the New Year
Economy of Saudi Arabia : Saudi Arabia has an oil-breaded economy with strong butter that controls over major economic activities. Saudi Arabia possesses 25% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. Economic overview The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly five and a half million foreign workers play an important role in the Saudi economy, for example, in the oil and service sectors. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. The government has begun to permit private sector and foreign investor participation in the power generation and telecom sectors. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in 2005 after many years of negotiations. With high oil revenues enabling the government to post large budget surpluses, Riyadh has been able to substantially boost spending on job training and education, infrastructure development, and government salaries. Macro-economic trend : Current GDP per capita of Saudi Arabia soared by a world record-breaking 1,858% in the Seventies riding on the back of the global oil boom. However, this bubble was unsustainable and consequently the GDP per capita shrank by 58% in the Eighties. However successful diversification efforts helped register a growth of 20% in the Nineties.
For purchasing power parity comparisons, the US Dollar is exchanged at 3.41 Saudi Arabian Riyals only. Average wages in 2007 hover around $76-92 per day. Oil Industry : Oil was discovered in Saudi Arabia by U.S. geologists in the 1930s, although largescale production did not begin until after World War II. Oil wealth has made possible rapid economic development, which began in earnest in the 1960s and accelerated spectacularly in the 1970s, transforming the kingdom.
Saudi oil reserves are the largest in the world, and Saudi Arabia is the world's leading oil producer and exporter. Oil accounts for more than 90% of the country's exports and nearly 75% of government revenues. Proven reserves are estimated to be 260 billion barrels (41 km³), about one-quarter of world oil reserves.
More than 95% of all Saudi oil is produced on behalf of the Saudi Government by the parastatal giant Saudi ARAMCO. In June 1993, Saudi ARAMCO absorbed the state marketing and refining company (SAMAREC), becoming the world's largest fully integrated oil company. Most Saudi oil exports move by tanker from Gulf terminals at Ras Tanura and Ju'aymah. The remaining oil exports are transported via the east-west pipeline across the kingdom to the Red Sea port of Yanbu. A major new gas initiative promises to bring significant investment by U.S. and European oil companies to develop nonassociated gas fields in three separate parts of Saudi Arabia. Following final technical agreements with concession awardees in December 2001, development should begin in 2002.
Due to a sharp rise in petroleum revenues in 1974 following the 1973 Arab-Israeli war, Saudi Arabia became one of the fastest-growing economies in the world. It enjoyed a substantial surplus in its overall trade with other countries; imports increased rapidly; and ample government revenues were available for development, defense, and aid to other Arab and Islamic countries.
But higher oil prices led to development of more oil fields around the world and reduced global consumption. The result, beginning in the mid-1980s, was a worldwide oil glut, which introduced an element of planning uncertainty for the first time in a decade. Saudi oil production, which had increased to almost 10 million barrels (1.6 million m³) per day during 1980-81, dropped to about 2 million barrels/day (300,000 m³/day) in 1985. Budgetary deficits developed, and the government drew down its foreign assets. Responding to financial pressures, Saudi Arabia gave up its role as the "swing producer" within OPEC in the summer of 1985 and accepted a production quota. Since then, Saudi oil policy has been guided by a desire to maintain market and quota shares.
However, beginning in late 1997, Saudi Arabia again faced the challenge of low oil prices. Due to a combination of factors--the East Asian economic crises, a warm winter in the West caused by El Niño, and an increase in non-OPEC oil production--demand for oil slowed and pulled oil prices down by more than one-third.
Saudi Arabia was a key player in coordinating the successful 1999 campaign of OPEC and other oil-producing countries to raise the price of oil to its highest level since the Gulf War by managing production and supply of petroleum. That same year, Saudi Arabia established the Supreme Economic Council to formulate and better coordinate economic development policies in order to accelerate institutional and industrial reform. Diversification As of 2007, non-oil manufacturing contributed 10% to Saudi Arabian GDP and less than 6% of total employment.
Through 5-year development plans, the government has sought to allocate its petroleum income to transform its relatively undeveloped, oil-based economy into that of a modern industrial state while maintaining the kingdom's traditional Islamic values and customs. Although economic planners have not achieved all their goals, the economy has progressed rapidly. Oil wealth has increased the standard of living of most Saudis. However, significant population growth has strained the government's ability to finance further improvements in the country's standard of living. Heavy dependence on petroleum revenue continues, but industry and agriculture now account for a larger share of economic activity. The mismatch between the job skills of Saudi graduates and the needs of the private job market at all levels remains the principal obstacle to economic diversification and development; about 4.6 million non-Saudis are employed in the economy.
Saudi Arabia's first two development plans, covering the 1970s, emphasized infrastructure. The results were impressive - the total length of paved highways tripled, power generation increased by a multiple of 28, and the capacity of the seaports grew tenfold. For the third plan (1980-85), the emphasis changed. Spending on infrastructure declined, but it rose markedly on education, health, and social services. The share for diversifying and expanding productive sectors of the economy (primarily industry) did not rise as planned, but the two industrial cities of Jubail and Yanbu--built around the use of the country's oil and gas to produce steel, petrochemicals, fertilizer, and refined oil products--were largely completed.
In the fourth plan (1985-90), the country's basic infrastructure was viewed as largely complete, but education and training remained areas of concern. Private enterprise was encouraged, and foreign investment in the form of joint ventures with Saudi public and private companies was welcomed. The private sector became more important, rising to 70% of non-oil GDP by 1987. While still concentrated in trade and commerce, private investment increased in industry, agriculture, banking, and construction companies. These private investments were supported by generous government financing and incentive programs. The objective was for the private sector to have 70% to 80% ownership in most joint venture enterprises.
The fifth plan (1990-95) emphasized consolidation of the country's defenses; improved and more efficient government social services; regional development; and, most importantly, creating greater private-sector employment opportunities for Saudis by reducing the number of foreign workers.
The sixth plan (1996-2000) focused on lowering the cost of government services without cutting them and sought to expand educational training programs. The plan called for reducing the kingdom's dependence on the petroleum sector by diversifying economic activity, particularly in the private sector, with special emphasis on industry and agriculture. It also continued the effort to "Saudiize" the labor force.
The seventh plan (2000-2004) focuses more on economic diversification and a greater role of the private sector in the Saudi economy. For the period 2000-2004, the Saudi Government aims at an average GDP growth rate of 3.16% each year, with projected growths of 5.04% for the private sector and 4.01% for the non-oil sector. The government also has set a target of creating 817,300 new jobs for Saudi nationals.
Advertising expenditures have reached new peaks due to emphasis on value-added manufacturing
This is a unified forum for these themes:
Innovation; Strategy; Leadership; Entrepreneurship; Business in general; Recruitment; Aspirations; Resipicense; and Youthfulness.
And if you are looking for "professional" partners in your business/ recruitment issues...
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129 comments:
Kunal Bahii
EX-099
I am opting for Japan, Osaka, Panasonic
Ashish Garg
Emp-Oct-2007
Roll No. 10
I am choosing the country "Italy", city "Turin" with company "Fiat S.p.A".
Myself Parveen Jain
Roll no 76 Batch EMP October 07
I have chooses North America and Company Hewitt Associates.
Parijat Sharma
EMP-OCT-07
Roll No. 45
I am opting for US, Armonk, IBM
Munish Singhal
Emp-OCT-07
Roll No - 38
Company - Polycom,
Country - Israel,
City - Petah Tikvah
Few things about Israel:
Israel has two official languages: Hebrew and Arabic. English is widely Spoken and understood. 83% of country's population is Jewish.
Israel GDP is about 102 billion US dollars. Foreign Debt is 66 billion US dollar. Inflation is about 6% , trade balance is -12%.
Israel currency is shekels and 1US dollar is about 3.52 shekels.
Agriculture in Israel is able to cover 75% of domestic needs still agriculture contributes to 3% of Israel's GNP.
Literacy rate is very high in Israel. It is about 93% for Women and 97% for Men. Education is free and compulsory for all citizens of Israel.
Will continue to add more ....
Thanks
Munish.
Dear Sir,
I have opted for Israel as the country of interest for the International Business subject for term V. My organization is head quartered in Melville, New York but the R&D is based in Israel.
thanks and regards,
mohit jairath
oct07 EMP-37
I am opting for Saudi Arabia. I would provide inputs for Aramco
Saudi Aramco, the state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System.
Regards,
Ashish Singla
EMP 07 Oct
Roll # 12
The country of my choice is Singapore. It is a city state therefore the city is also Singapore. The company which I would follow is SingTel Limited.
Rakesh Bohra
EMP OCT07 BATCH
Roll No. 054
Shiv Raj Gupta
EMP Oct 2007
Roll No. 79
I have chosen Finland as country, Nokia as company and Nokia as city located on the banks of the Nokianvirta River.
Gautam Kumar
EMP-1-73 (Oct.08)
Roll No. 73
Hi Friends ,
I have chosen UAE-Dubai-Atisalat
Atisalat is a Telecom Operator.
i m opting for
organization:USAID
(HQ: washington dc)
region: Sub-Saharan Africa(AFR)
IB Concepts :
1. politics & economics behind international aids
2. Impact of globlization on least developed/poor countries
gautam kumar(verma)
roll no.22
Sharing with you a report to which I subscribe.
This report is prepared by Cushman & Wakefield, a leading International Property Consultant.
Despite the US Administration’s rescue plan aimed at stabilizing US financial services markets passed on October 3, countries and institutions around the world are feeling the impact of this unprecedented crisis, and are scrambling to apply solutions.
Recent events have amounted to the greatest financial crisis that world economies have experienced since the 1929-30 period that triggered the Great Depression. The financial landscape has been remade, with governments in the US and many other countries now more directly involved in the financial system than at any time since the depression. Eventually new policies and the consolidation of the financial sector will lead to economic recovery. But that is not likely before the first half of 2009.
Until then, expect the current recession to worsen, more jobs to be lost and the real estate market to weaken. Cities and regions that have a high concentration of financial firms will feel greater downward pressure than those with broader industry concentrations, but no region is likely to emerge from the current downturn unscathed.
As 2008 has unfolded, the economic stress has been spreading around the globe. In a bid to stem the financial crisis, European governments are introducing emergency measures to guarantee personal bank deposits and rescue large insititutions. In Asia, a combination of financial uncertainty, declining demand from the US and the end of spending for the Olympic Games is causing growth to slow from super strong to merely strong. While the impacts vary, no region is completely immune from the effects of financial stress and the US recession.
Economic Backdrop
How did we get here? Why did the financial system suddenly collapse? The short answer is, financial firms assumed values would continue going up and they made loans on that basis. When the reversal started to happen, eventually it caused loans to default, security prices to fall and balance sheets to erode.
• Behind all of the trouble was the housing sector. The US housing sector experienced an unprecedented era of growth from 1992 to 2005 that saw prices climb and the number of home sales increase to break one record after another. Lenders acted as if home prices would rise forever and high levels of sales would be the norm. They began to offer mortgages to less creditworthy borrowers because the market looked secure and because they could rapidly sell the mortgages to investors who seemed to have an endless appetite for these instruments.
• In 2005 conditions began to change as home sales peaked and began to decline. This led to greater and greater risk taking by lenders whose numbers had grown dramatically and who sought to maintain their income flow. Mortgages were offered to borrowers of questionable credit worthiness. By mid 2007 the whole process came unglued as defaults on those loans soared and the securities that were issued using the loans as backing declined in value. Lenders became reluctant to part with their capital and the credit markets began to freeze up, as investors began to question the integrity of the entire securitization process. These events triggered a recession that many believe began in late 2007 and continues today. Employment, income, sales and production are all declining and the second half of 2008 is likely to be worse than the first half.
• Nonfarm payrolls in the US have fallen by 760,000 jobs since the end of 2007 and the pace of decline is likely to accelerate in the months ahead. New claims for unemployment benefits, a key leading indicator of total employment, have been climbing this year and now stand at 474,000 (on a four-week moving average basis), the highest level since the end of 2001, at the end of the last recession. The high level of claims indicates that labor markets are weak and the pace of job loss will accelerate from the roughly 84,000 per month recorded in the first nine months of the year.
• Consumers are stressed. High oil prices have led to high gas prices and could lead to a substantial increase in heating bills this winter. The amount consumers spend on energy is currently at an all time high and, relative to income, it is at the highest level since 1984. At the same time the values of their homes are falling and employment is declining. It’s no surprise in this environment that consumer spending is declining. After an increase stimulated by tax rebate checks, consumer spending fell in June and July, and was flat in August. Further declines are likely. One key indicator of consumer spending, motor vehicle sales, are currently at the lowest level since 1991.
All this of course was happening before the crisis was ratcheted up several notches with the dramatic mergers, bailouts, buyouts and bankruptcies of September. Now, credit in the economy has been severely curtailed and activity is likely to slow even further.
However, while the immediate situation will be difficult, the financial supports set in motion by the US Federal Reserve, Treasury and Congress are expected to help get the worst of the problem debts out of the system, and permit lenders to begin lending again. Cushman & Wakefield is confident that credit availability will improve in the months ahead, especially in 2009.
Moving Forward
With the programs in place and the financial sector beginning to address their problems, the question is not if there will be a return to growth, but when. As has been the case throughout this cycle, the key will be the housing sector. One way to look at housing affordability is the price of a new home relative to per capita income. Currently, that ratio has fallen substantially and is below its 30-year average. When the ratio is below average, it is generally consistent with a bottom in the market, although there is always the possibility of further declines. A factor working against recovery however is demand. With a glut of housing stock on the market, there will simply not be enough buyers to restore balance to the sector for some time, especially with more rigorous mortgage qualification standards, declining employment and reduced spending in general.
Employment also needs to stabilize, which is not expected to happen until the first half of 2009. The decline in activity will eventually be halted as consumers begin to increase spending, gradually leading to greater demand and ultimately the creation of jobs.
The combination of a housing bottom and higher employment will eventually create conditions for a return to more normal financial markets. As housing stabilizes, financial institutions will have a greater understanding of the value of many of the securities written against home mortgages. That will further assist in the clean up of balance sheets, made possible to a great extent by the government financial aid. If prices increase, the government may actually make a profit on these investments, as it did in the 1980s when a safety net was thrown to Chrysler Corporation. Of course, the hope is that the economy will get back on track and credit will become more readily available.
Real Estate Implications
The real estate industry will be negatively impacted by the combination of declining employment and tight credit. Already, many cities are experiencing vacancy rate increases and rents are coming under pressure.
As employment falls, these trends are likely to continue in the coming year. Nationally CBD rents increased 43% in the 2005-2008 period. Over the next two or more years, we are likely to see rents decline in most CBDs. In the last real estate downturn, which lasted from 2001-2004 national average Class-A CBD rents fell 19%. Another decline in the 15% to 25% range nationally is quite possible. Vacancy rates are likely to increase substantially. The national CBD vacancy rate bottomed at 9.7% at the end of 2007 and has increased slightly this year. As employment falls, sublease space will come back to the market and vacancies will inevitably increase. We would not be surprised to see the national CBD vacancy rate top 15% before the current cycle ends.
Of course, not all cities will be affected the same. Cities with a high concentration of financial services firms will likely suffer greater job loss, along with related vacancy rate increases and rental declines. Cities that have a high concentration of energy-related employment such as Houston and Denver will likely feel less pressure.
But no city or product type is likely to emerge unscathed. With the recession worsening and consumer spending falling, a wide range of industries will be impacted, from business services to retail to manufacturing and distribution. It follows that these classes of real estate will also come under pressure in the coming year.
As rental rates decline and vacancies increase, during a period of tightening credit, investment markets will also come under pressure. Already sales have fallen 70% in volume from a year ago and prices have declined.
While it is difficult to get an accurate reading on the investment market because of the small number of transactions, prices are down and cap rates are up, and real estate capital and risk have been fundamentally repriced for the foreseeable future. What impact this will have on long-term allocation to the sector remains to be seen, but in the meantime we expect to see further price adjustment and cap rate increases.
The effects are spreading rapidly to other major financial centers around the world. London has already experienced serious upward pressure on vacancy and downward pressure on rents. While it is too soon to quantify the full effects in Europe, EU countries are trending negatively as well. And markets in Asia are likely to feel more stress than they have in years, although this region is best positioned to offset a portion of the weakness from the US with locally-driven demand.
There is one important silver lining for US real estate markets. With credit availability limited, speculative construction will be sharply curtailed. Since most markets did not go through a major building boom prior to the economy’s weakening, the supply of new office space will not increase materially in the coming year or two, which will help support recovery.
The global economy is going through one of the most difficult periods in its history. The financial stresses of the past month will inevitably make an already difficult economic environment worse, and the next six months or so are likely to be extremely challenging. No industry or sector will be unaffected. The good news is that recent measures have started the necessary process of cleaning up the financial system that will permit the economy to move forward. In that sense this is the beginning of the end of the financial crisis.
Of course, in the current dynamic environment conditions can change rapidly depending on unfolding events.
Dhirendra Kumar Giri
EMP-07 October
Roll No. 18
The Country of my choice is Mauritius, City is Port Luis and the company is Shell Mauritius Ltd.
SINGAPORE TRADE FIGURES
Performance of Key Trade Components – Aug’08
Total Trade
Total trade increased by 10 per cent in August 2008, following the strong expansion of 21 per cent in July 2008. Total exports rose by 7.7 per cent in the month, slowing down from the 15 per cent growth in July 2008. Growth of total imports was at 14 per cent in August 2008, down from the stellar 27 per cent gain in July 2008.
Non-oil Domestic Exports (NODX)
NODX declined by 14 per cent in August 2008, following the 5.8 per cent fall in the preceding month, resulting from the contraction of both electronic and non-electronic NODX.
Oil Domestic Exports
Growth of oil domestic exports accelerated to 104 per cent in August 2008, maintaining its spectacular growth of 79 per cent in July 2008. The growth of oil domestic exports was contributed by higher sales to Indonesia (+217 per cent), EU 27 (+249 per cent) and Panama (+109 per cent) in the month. In volume terms, oil domestic exports expanded by 33 per cent in August 2008, faster than the 4.1 per cent rise in the previous month.
Non-oil Re-exports (NORX)
On a year-on-year basis, non-oil re-exports (NORX) contracted by 0.6 per cent in the month, contrary to the slight 3.9 per cent gain in the preceding month, largely due to declining electronic NORX which outweighed the rise in non-electronic NORX. On a 3MMA year-on-year basis, NORX rose by 1.9 per cent in August 2008, slower than the preceding month’s 5.5 per cent surge.
I amopting for Finland, Espoo, company is Nokia
Jaipal Yadav
02EMP7-28
Respected Sir
This is Harish K Advani. My Choices are as follows
Country - India
City - New Delhi
Company - Nokia Siemens Networks
Rgds
Harish
Roll No. 24, EMPOCT2007
I am Rahul Chauhan (Roll no. 50) and my project partner is Anuj Dhingra (Roll no. 6). We will work on Foster's Group of Melobourne, Australia for our International Business project.
The country of my choice would be Belgium. The city of choice would be Brussels. The company I would like to know more about would be InBev.
Regards,
Pawan
Arvind Kumar Chaodhary
EMP OCT -2007
Roll No - 09
------------------------------
I have opted UK/London/RBS for my three Cs. I am writing something about RBS today,
RBS has planned to raise as much as £20bn to come out of credit crunch. This is bigger than the expected amoumt by the people.
Of this, £15bn would come in the form of a placing of ordinary shares with the government, with the remainder in the form of preferred shares. Existing RBS shareholders will given an opportunity to buy the shares, but if they do not the government is expected to be left with a controlling stake in the bank. more than 50%.
RBS CEO Sir Fred Goodwin may have to resign if the control goes in the Govt hands. Indian offshore activities might get hampered by this.
RBS had a plan to raise head-count in india IDC by 2500 by 2012, but if the Govt takes control of the compamny this head-count may go down from current 1400 employees.
Sachin Sharma
Emp oct07-57
I am opting for Belgium,Antwerp,A-BELL
Location: Western Europe, bordering France 620 km, Germany 167 km, Luxembourg 148 km,
Netherlands 450 km
Capital: Brussels
Climate: temperate; mild winters, cool summers; rainy, humid, cloudy
Population: 10,348,276 (July 2004 est.)
Ethnic Make-up: Fleming 58%, Walloon 31%, mixed or other 11%
Religions: Roman Catholic 75%, Protestant or other 25%
Government: federal parliamentary democracy under a constitutional monarch
Languages of Belgium
Official Languages of Belgium are French, Dutch and German. Wallon is used by 33% of population. Flemish, the local variant of Dutch, is used by more than 60% of the population, and is spoken in the northern part of the country. The languages learned at school are officially labelled French and Dutch. German, spoken by 1% of population can be found in the cantons in the east of the Wallon region. Brussels, the capital of Belgium, has two official languages: French and Dutch. Luxembourgish is spoken by around 0.5% of the population, but the language has no official status. About 10% of the Belgian population are non-native, and languages spoken include Italian, Spanish, Greek, Arabic and Turkish.
Aditya Chaudhry
EMP-Oct-07
Rpll No.-01
I m opting for
Country : Saudi Arabia
Company : Saudi Aramco
City : Dhahran
Arvind
EMP OCT07
Roll No - 9
------------------
RBS 60% stake, almost in the hands of UK Govt.
Stephen Hester new CEO.
Govt has imposed tough new dividend policy – imposed by the Treasury during negotiations over the weekend - makes it less likely that existing shareholders in RBS will take the opportunity to buy back some of the ordinary shares that the three banks are placing with the government .
If existing shareholders do not buy back any shares, the government is likely to end up with a controlling stake of around 60 per cent in RBS and 43.5 per cent of the combined Lloyds TSB and HBOS, which are pressing ahead with their merger after revising the terms of the deal.
Royal Bank of Scotland is raising £20bn in a placing of ordinary and preference shares that could leave the government holding a majority stake in Britain’s second-largest bank.
RBS confirmed the departure of Sir Fred Goodwin as chief executive, to be replaced by Stephen Hester, the former banker who is chief executive of British Land. Sir Tom McKillop, RBS’s chairman, is also expected to step down at the bank’s annual meeting in April 2009.
RBS confirmed the departure of Sir Fred Goodwin as chief executive, to be replaced by Stephen Hester, the former banker who is chief executive of British Land. Sir Tom McKillop, RBS’s chairman, is also expected to step down at the bank’s annual meeting in April 2009.
Johnny Cameron, head of RBS’s investment banking operations, will leave the board though he is expected to stay on in a senior client role.
Sir Tom said: ”We regret having to raise capital but believe that decisive action is necessary in this unprecedented market environment.”
RBS said it would raise £15bn by placing ordinary shares at a price of 65.5p – less than a third of the price at which the bank issued shares at the time of its rights issue in April. If shareholders do not take up their rights to new shares, the British government will hold a controlling stake in RBS. The bank said the Treasury would ”work with” the board to appoint three new non-executive directors.
The bank also signalled it would scale back its investment banking operations in order to concentrate on risk management, financing and transaction banking services, while scaling back its capital-intensive businesses.
RBS will also raise £5bn from the government by issuing preference shares which carry a fixed interest payment of 12 per cent. The bank signalled it would not pay any dividends on ordinary shares until the preferred shares have been repaid.
The capital increase will boost RBS’s Tier One capital ratio by around 4 percentage points.
-----------------
Saudi Arabia is a major Oil Producer in world.
Oil Production of Saudi-Arabia is 13% of total world production & 35%of total OPEC production.
So Saudi-Arabia is an important member of OPEC which plays a crucial role in deciding crude oil prices.
IMP. of Oil Sector for Saudi Economy-73% of Budgetry Revenues of Saudi Arabia came from Oil Sector.
But It is unimportnt to Saudi economy in one sense i.e. No. of jobs in this sector.Less than 2% Work force of Saudi Arabia was employed in oil sector according to 1990 servey.
Brief Introduction of Saudi ARAMCO
This Firm was established in January 1944.
Initially its name was-ARAMCO(Arabian-American Oil Company)
Four Parteners in this Firm.
1.Standard Oil Company of New Jersey.(Now-Exxon)
2.Socony-Vaccum(Now-Mobil Oil Company)
3.Standard Oil Company of California(Socal)
4.California Arabian Standard Oil Company.
In 1968 Minister of Petroleum And Mineral Resources-Ahamad Zaki Yamani,propesed idea of State Ownership Of ARAMCO.
Initialy Process to get 25% stake is started in 1972.This 25% stake was effective from 1973.
State took 60% stake of the firm in 1974.
Arrangements for total Ownership reached in 1976.
After Arrangements of Total Ownership reached payment to four parteners completed in 1980.
In 1988 Name of the firm Changed to : Saudi Arabian Oil Company.
Introduction Singapore
Background: Singapore was founded as a British trading colony in 1819. It joined the Malaysian Federation in 1963 but separated two years later and became independent. Singapore subsequently became one of the world's most prosperous countries with strong international trading links (its port is one of the world's busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations of Western Europe.
Geography Singapore
Location: Southeastern Asia, islands between Malaysia and Indonesia
Geographic coordinates: 1 22 N, 103 48 E
Map references: Southeast Asia
Area: total: 692.7 sq km
land: 682.7 sq km
water: 10 sq km
Land boundaries: 0 km
Coastline: 193 km
Maritime claims: territorial sea: 3 nm
Climate: tropical; hot, humid, rainy; two distinct monsoon seasons - Northeastern monsoon (December to March) and Southwestern monsoon (June to September); inter-monsoon - frequent afternoon and early evening thunderstorms
Terrain: lowland; gently undulating central plateau contains water catchment area and nature preserve
Natural resources: fish, deepwater ports
Land use: arable land: 1.47%
permanent crops: 1.47%
other: 97.06% (2005)
Natural hazards: NA
Environment - current issues: industrial pollution; limited natural fresh water resources; limited land availability presents waste disposal problems; seasonal smoke/haze resulting from forest fires in Indonesia
Environment - international agreements: party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution
Geography - note: focal point for Southeast Asian sea routes
People Singapore
Population: 4,608,167 (July 2008 est.)
Age structure: 0-14 years: 14.8% (male 353,333/female 329,005)
15-64 years: 76.5% (male 1,717,357/female 1,809,462)
65 years and over: 8.7% (male 177,378/female 221,632) (2008 est.)
Median age: total: 38.4 years
male: 38 years
female: 38.8 years (2008 est.)
Population growth rate: 1.135% (2008 est.)
Birth rate: 8.99 births/1,000 population (2008 est.)
Death rate: 4.53 deaths/1,000 population (2008 est.)
Net migration rate: 6.88 migrant(s)/1,000 population (2008 est.)
Sex ratio: at birth: 1.08 male(s)/female
under 15 years: 1.07 male(s)/female
15-64 years: 0.95 male(s)/female
65 years and over: 0.8 male(s)/female
total population: 0.95 male(s)/female (2008 est.)
Infant mortality rate: total: 2.3 deaths/1,000 live births
male: 2.51 deaths/1,000 live births
female: 2.08 deaths/1,000 live births (2008 est.)
Life expectancy at birth: total population: 81.89 years
male: 79.29 years
female: 84.68 years (2008 est.)
Total fertility rate: 1.08 children born/woman (2008 est.)
HIV/AIDS - adult prevalence rate: 0.2% (2003 est.)
HIV/AIDS - people living with HIV/AIDS: 4,100 (2003 est.)
HIV/AIDS - deaths: fewer than 200 (2003 est.)
Ethnic groups: Chinese 76.8%, Malay 13.9%, Indian 7.9%, other 1.4% (2000 census)
Religions: Buddhist 42.5%, Muslim 14.9%, Taoist 8.5%, Hindu 4%, Catholic 4.8%, other Christian 9.8%, other 0.7%, none 14.8% (2000 census)
Languages: Mandarin 35%, English 23%, Malay 14.1%, Hokkien 11.4%, Cantonese 5.7%, Teochew 4.9%, Tamil 3.2%, other Chinese dialects 1.8%, other 0.9% (2000 census)
Literacy: definition: age 15 and over can read and write
total population: 92.5%
male: 96.6%
female: 88.6% (2000 census)
Education expenditures: 3.7% of GDP (2001)
Government Singapore
Government type: parliamentary republic
Capital: name: Singapore
geographic coordinates: 1 17 N, 103 51 E
time difference: GMT+8 (1 hour ahead of its natural clock)
Administrative divisions: none
Independence: 9 August 1965 (from Malaysian Federation)
National holiday: National Day, 9 August (1965)
Constitution: 3 June 1959; amended 1965 (based on preindependence State of Singapore Constitution)
Legal system: based on English common law; has not accepted compulsory ICJ jurisdiction
Suffrage: 21 years of age; universal and compulsory
Executive branch: chief of state: President S R NATHAN (since 1 September 1999)
head of government: Prime Minister LEE Hsien Loong (since 12 August 2004);
cabinet: appointed by president, responsible to parliament
elections: president elected by popular vote for six-year term; appointed on 17 August 2005 (next election to be held by August 2011);
Legislative branch: unicameral Parliament (84 seats; members elected by popular vote to serve five-year terms); note - in addition, there are up to nine nominated members; up to three losing opposition candidates who came closest to winning seats may be appointed as "nonconstituency" members
elections: last held on 6 May 2006 (next to be held by 2011)
election results: percent of vote by party - PAP 66.6%, WP 16.3%, SDA 13%, SDP 4.1%; seats by party - PAP 82, WP 1, SDA 1
Judicial branch: Supreme Court (chief justice is appointed by the president with the advice of the prime minister, other judges are appointed by the president with the advice of the chief justice); Court of Appeals
Political parties and leaders: People's Action Party or PAP [LEE Hsien Loong]; Singapore Democratic Alliance or SDA [CHIAM See Tong]; Singapore Democratic Party or SDP [CHEE Soon Juan]; Workers' Party or WP [Sylvia LIM Swee Lian]
note: SDA includes Singapore Justice Party or SJP, Singapore National Malay Organization or PKMS, Singapore People's Party or SPP
Flag description: two equal horizontal bands of red (top) and white; near the hoist side of the red band, there is a vertical, white crescent (closed portion is toward the hoist side) partially enclosing five white five-pointed stars arranged in a circle
Economy Singapore
Economy - overview: Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP equal to that of the four largest West European countries. The economy depends heavily on exports, particularly in consumer electronics and information technology products. It was hard hit from 2001-03 by the global recession, by the slump in the technology sector, and by an outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, which curbed tourism and consumer spending. Fiscal stimulus, low interest rates, a surge in exports, and internal flexibility led to vigorous growth in 2004-07 with real GDP growth averaging 7% annually. The government hopes to establish a new growth path that will be less vulnerable to the global demand cycle for information technology products - it has attracted major investments in pharmaceuticals and medical technology production - and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.
GDP (purchasing power parity): $227.1 billion (2007 est.)
GDP - real growth rate: 7.7% (2007 est.)
GDP - per capita (PPP): $49,900 (2007 est.)
GDP - composition by sector: agriculture: 0%
industry: 31.2%
services: 68.8% (2007 est.)
Labor force: 2.751 million (2007 est.)
Labor force - by occupation: manufacturing 21%, construction 5%, transportation and communication 7%, financial, business, and other services 42%, other 25% (2006)
Unemployment rate: 2.1% (2007 est.)
Population below poverty line: NA%
Inflation rate (consumer prices): 2.1% (2007 est.)
Investment (gross fixed): 24.9% of GDP (2007 est.)
Budget: revenues: $27 billion
expenditures: $21.5 billion (2007 est.)
Public debt: 96.3% of GDP (2007 est.)
Agriculture - products: rubber, copra, fruit, orchids, vegetables; poultry, eggs; fish, ornamental fish
Industries: electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing and rubber products, processed food and beverages, ship repair, offshore platform construction, life sciences, entrepot trade
Industrial production growth rate: 7.4% (2007 est.)
Electricity - production: 39.44 billion kWh (2006)
Electricity - production by source: fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)
Electricity - consumption: 35.92 billion kWh (2006)
Oil - production: 9,836 bbl/day (2005 est.)
Oil - consumption: 802,000 bbl/day (2005 est.)
Oil - exports: 1.073 million bbl/day (2004)
Oil - imports: 1.83 million bbl/day (2004)
Oil - proved reserves: 0 bbl (1 January 2006 est.)
Natural gas - production: 0 cu m (2006 est.)
Natural gas - consumption: 6.8 billion cu m (2006 est.)
Natural gas - exports: 0 cu m (2006 est.)
Natural gas - imports: 6.339 billion cu m
note: from Indonesia and Malaysia (2005)
Current account balance: $46.39 billion (2007 est.)
Exports: $302.7 billion f.o.b. (2007 est.)
Exports - commodities: machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels
Exports - partners: Malaysia 12.9%, Hong Kong 10.5%, Indonesia 9.8%, China 9.7%, US 8.9%, Japan 4.8%, Thailand 4.1% (2007)
Imports: $252 billion (2007 est.)
Imports - commodities: machinery and equipment, mineral fuels, chemicals, foodstuffs
Imports - partners: Malaysia 13.1%, US 12.5%, China 12.1%, Japan 8.2%, Taiwan 5.9%, Indonesia 5.6%, South Korea 4.9% (2007)
Economic aid - recipient: $0 (2007)
Reserves of foreign exchange and gold: $163 billion (31 December 2007 est.)
Debt - external: $25.59 billion (31 December 2007 est.)
Stock of direct foreign investment - at home: $214.5 billion (2007 est.)
Stock of direct foreign investment - abroad: $111.2 billion (2005)
Market value of publicly traded shares: $382.4 billion (2007)
Currency (code): Singapore dollar (SGD)
Currency code: SGD
Exchange rates: Singapore dollars per US dollar - 1.507 (2007), 1.5889 (2006), 1.6644 (2005), 1.6902 (2004), 1.7422 (2003)
Fiscal year: 1 April - 31 March
Communications Singapore
Telephones - main lines in use: 1.859 million (2007)
Telephones - mobile cellular: 5.619 million (2007)
Internet country code: .sg
Internet users: 3.105 million (2007)
Transportation Singapore
Airports: 8 (2007)
Pipelines: gas 139 km; refined products 8 km (2007)
Roadways: total: 3,262 km
paved: 3,262 km (includes 150 km of expressways) (2006)
Ports and terminals: Singapore
Military Singapore
Military branches: Singapore Armed Forces: Army, Navy, Air Force (includes Air Defense) (2008)
Military service age and obligation: 18-21 years of age for male compulsory military service; 16 years of age for volunteers; 2-year conscript service obligation, with a reserve obligation to age 40 (enlisted) or age 50 (officers) (2008)
Manpower available for military service: males age 16-49: 1,277,862 (2008 est.)
Manpower fit for military service: males age 16-49: 1,038,603 (2008 est.)
Manpower reaching militarily significant age annually: male: 27,742
female: 26,325 (2008 est.)
Military expenditures: 4.9% of GDP (2005 est.)
Transnational Issues Singapore
Disputes - international: disputes persist with Malaysia over deliveries of fresh water to Singapore, Singapore's extensive land reclamation works, bridge construction, and maritime boundaries in the Johor and Singapore Straits; in November 2007, the ICJ will hold public hearings as a consequence of the Memorials and Countermemorials filed by the parties in 2003 and 2005 over sovereignty of Pedra Branca Island/Pulau Batu Puteh, Middle Rocks and South Ledge; Indonesia and Singapore continue to work on finalization of their 1973 maritime boundary agreement by defining unresolved areas north of Indonesia's Batam Island; piracy remains a problem in the Malacca Strait
Illicit drugs: drug abuse limited because of aggressive law enforcement efforts; as a transportation and financial services hub, Singapore is vulnerable, despite strict laws and enforcement, as a venue for money laundering
Singapore Society & Culture
The Family
1. The concepts of group, harmony, and mutual security are more important than that of the individual.
2. The family is the centre of the social structure and emphasizes unity, loyalty and respect for the elderly.
3. The term, 'family' generally includes extended family and close friends who are treated as family members.
4. Respect for the elderly and seeing the family as the place one goes to for support, both help retain core values in this island nation.
Face & Respect
1. Having face indicates personal dignity.
2. Singaporeans are very sensitive to retaining face in all aspects of their lives.
3. Face is a prized commodity that can be given, lost, taken away or earned.
4. It is a mark of personal qualities such as a good name, good character, and being held in esteem by one's peers.
5. It can also be greater than the person and extend to family, school, company, and even the nation itself.
6. Face is what makes Singaporeans strive for harmonious relationships.
Guanxi – A Chinese Cultural
Concept – Prevalent in Singapore
"Guanxi" (pronounced (gwan-shee) is one of the most powerful forces in Chinese culture. Though the direct translation of "guanxi" is "relationships", the concept as it is used and applied in Chinese culture is much richer and encompassing. "Guanxi" does express the relationship of one person to another, or one party to another. However, more importantly the term also expresses an obligation of one party to another, built over time by the reciprocation of social exchanges and favours. If one has "guanxi" with another, one will be quick to do a favour, act on another’s behalf and depending on the depth of the relationship, do anything necessary for the other party. By establishing this type of relationship with someone, the other party is implicitly agreeing also to be available to reciprocate when the need arises. In such a way "guanxi" can be considered as a type of currency that can be saved and spent between the two parties. Like money, it is a resource that can also be also be exhausted, so one must be sensitive not to overextend the "guanxi" that has been established.
The exchange of favours does not have to be in like kind. So if one person helps introduce you to someone, it is not beyond the scope of the relationship for that party to then ask you to help get a visa to your country, or get their son into a foreign school. Failure to repay favours in this type of relationship is equivalent to not paying a financial obligation. If one cannot accommodate a specific request, one must find another way to make amends, perhaps by sending along a small gift to let the party know you are sorry you could not help and that you still want to maintain the relationship.
The reciprocal nature of "guanxi" and its implied obligations is the main reason why Chinese are reticent to engage in deeper relationships with people they do not know. To begin such a relationship may put you in a compromising position from which it is difficult to withdraw. Additionally, to establish "guanxi" with someone who later proves unworthy will also tarnish that party’s reputation, so the Chinese would rather not begin a relationship with someone they do not know. Finally, in establishing "guanxi", that person or party may want to know up front what they hope to gain from the relationship, to insure they are not contributing effort or services without gaining something in return.
Given this background, if you would like to begin a relationship with a Chinese individual, group, or company, it is most expedient to be introduced by a mutual party who can vouch for you. But note that the intermediary is also expending "guanxi" to make the introduction so you will need to repay the favour.
Gifts are often used in "guanxi" to establish, or bring equilibrium to the relationship. If one is feeling too indebted to another, that person may bring a gift to bring the relationship back into balance. Also, if one feels that they have offended a party, or if they would like to increase the strength of the relationship to then ask a favour, they may give a gift. If you receive a gift from another, you do not necessarily have to return a gift, especially at that time. Try to determine the reason for the gift so that the problem is not further exacerbated. If you just brought a new customer to a business, the gift will be in response to favour. If someone had to back out of a deal, the gift will be an appeasement. However, if someone is trying to curry favour and you do not want to be engaged, quickly return a similar gift and you are released from that obligation. Not all gifts have elaborate motives behind them; often people are simply expressing gratitude for your presence or friendship.
Bhupendra Singh (Roll No: 14)
Country RUSSIA, City MOSCOW.
Company, UES (United Energy Systems).
Regards,
Bhupendra
--
Singapore Telecommunications Ltd (SINGTEL) announced cost cuts as it said its operations were starting to feel some impact from the global financial crisis.
"It's no longer business as usual for our Singapore operations," said Allen Lew, chief executive officer for SingTel's Singapore operations, told reporters on Monday on the sidelines of a briefing on tariff hikes for fixed-line services.
"We are adopting a framework that will take into consideration 12-18 months of uncertainty and economic slowdown," Lew added.
Lew said Southeast Asia's largest telecoms firm would provide more details of the impact of the global crisis on its regional operations with its quarterly results next month.
Meanwhile, SingTel would focus on cost cuts but not axe any jobs in Singapore for now. Staff who resigned would not be replaced, Lew added.
"We're starting to curtail costs -- discretionary costs, advertising costs. A lot of it is related to revenue," he said.
SingTel shares sank 4.4 percent on Monday to close at S$3.04 as the benchmark Strait Times Index stumbled 5.6 percent, its steepest drop since January, to end at a near 3-year low.
EMP OCT-2007
Roll No - 9
----------------------
Introduction (UK)
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,[11][12] is a sovereign state located off the northwestern coast of continental Europe. It is an island country,[13][14] spanning the island of Great Britain, the northeast part of the island of Ireland, and many small islands. Northern Ireland is the only part of the UK with a land border, sharing it with the Republic of Ireland.[15] Apart from this land border, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel and the Irish Sea. The largest island, Great Britain, is linked to France by the Channel Tunnel.
The United Kingdom consists of England, Northern Ireland, Scotland and Wales.[16] A unitary state with three devolved national legislatures, the UK is governed by a parliamentary system with its seat of government in London, the capital. The UK is a constitutional monarchy with Queen Elizabeth II as the head of state. The Crown Dependencies of the Channel Islands and the Isle of Man are Crown Dependencies and not part of the UK, but form a federacy with it.[17] The UK has fourteen overseas territories,[18] all remnants of the British Empire, which at its height encompassed almost a quarter of the world's land surface, the largest empire in history. British influence can continue to be observed in the language, culture and legal systems of many of its former colonies. Queen Elizabeth II remains the head of the Commonwealth of Nations and head of state of each of the Commonwealth realms.
The UK is a developed country, with the fifth (nominal GDP) or sixth (PPP) largest economy in the world. It was the world's first industrialised country[19] and the world's foremost power during the 19th and early 20th centuries,[20] but the economic cost of two world wars and the decline of its empire in the latter half of the 20th century diminished its leading role in global affairs. The UK nevertheless remains a major power with strong economic, cultural, military and political influence and is a nuclear power, with the second or third highest (depending on method of calculation) defence spending in the world. It is a member state of the European Union, holds a permanent seat on the United Nations Security Council, and is a member of the G8, NATO, OECD, WTO and the Commonwealth of Nations.
I will be doing my project on Country: Mauritius
City: Port Louis
Company: Tourism Industry
--------------------------
Some information about Mauritius
Capital:Port Louis
Population: 143,000
Area: 2,040 square kilometers
(788 square miles)
Language: Creole 80.5%, Bhojpuri 12.1%, French 3.4%, English (official; spoken by less than 1% of the population), other 3.7%, unspecified 0.3% (2000 census)
Religion: Hindu 48%, Roman Catholic 23.6%, Muslim 16.6%, other Christian 8.6%, other 2.5%, unspecified 0.3%, none 0.4% (2000 census)
Ethnic groups:Indo-Mauritian 68%, Creole 27%, Sino-Mauritian 3%, Franco-Mauritian 2%
Currency: Mauritian rupee
Life Expectancy: 72
GDP Per Capita: U.S. $10,100
Literacy Percent: 86
Climate:tropical, modified by southeast trade winds; warm, dry winter (May to November); hot, wet, humid summer (November to May)
Terrain: small coastal plain rising to discontinuous mountains encircling central plateau
Geography - note: the main island, from which the country derives its name, is of volcanic origin and is almost entirely surrounded by coral reefs; home of the dodo, a large flightless bird related to pigeons, driven to extinction by the end of the 17th century through a combination of hunting and the introduction of predatory species
Government type: Parliamentary democracy
Administrative divisions: 9 districts and 3 dependencies*; Agalega Islands*, Black River, Cargados Carajos Shoals*, Flacq, Grand Port, Moka, Pamplemousses, Plaines Wilhems, Port Louis, Riviere du Rempart, Rodrigues*, Savanne
Executive branch: chief of state: President Sir Anerood JUGNAUTH (since 7 October 2003); Vice President Abdool Raouf BUNDHUN (since 25 February 2002)
head of government: Prime Minister Navinchandra RAMGOOLAM (since 5 July 2005)
cabinet: Council of Ministers appointed by the president on the recommendation of the prime minister
elections: president and vice president elected by the National Assembly for five-year terms (eligible for a second term); election last held 19 September 2008 (next to be held in 2013); prime minister and deputy prime minister appointed by the president, responsible to the National Assembly
election results: Sir Anerood JUGNAUTH reelected president by unanimous vote; percent of vote by the National Assembly - NA%
Next I will be posting more information about the economy of Mauritius
Rajeev K. Gautam
EMP-Oct'07
Roll No.52
I opt for-
Country: Malaysia
City: Penang
Company: Intel
Murthy
Emp-Oct'07
Rollcall 39
I opted for Czeck republic, and the company is Skoda which has its manufacturing plants in Sarajevo, Bosnia and Herzegovina.
Few Facts and figures that I felt sharing with you are,
- Religions: Roman Catholic 27%, Protestant 2%, unaffiliated 59%.The Literacy rate is 99% (2003 est.
Economic summary: GDP/PPP (2007 est.): $249 billion; per capita $24,400.
Real growth rate: 5.7%.
Inflation: 2.6%.
Unemployment: 6.6%.
Labor force: 5.31 million; agriculture 4.1%, industry 37.6%, services 58.3% (2003 est.). Industries: metallurgy, machinery and equipment, motor vehicles, glass, armaments. Natural resources: hard coal, soft coal, kaolin, clay, graphite, timber. Exports: $113 billion f.o.b. (2007 est.): machinery and transport equipment 52%, chemicals 5%, raw materials and fuel 9% (2003). Imports: $109.8 billion f.o.b. (2007 est.): machinery and transport equipment 46%, raw materials and fuels 15%, chemicals 10% (2003).
Major trading partners: Germany, Slovakia, Austria, Poland, UK, France, Italy, Netherlands, China, Russia. Most of the economy has been privatized, including banks and telecommunications
- Škoda Auto is the largest car manufacturer in Central Europe. In 2007, 630 032 cars were sold worldwide, the record in company's history.
- The country has fully implemented the Schengen Agreement and therefore has abolished border controls, completely opening its borders with all of its neighbours (Germany, Austria, Poland, Slovakia) on December 21, 2007. The Czech Republic is a member of the WTO.
- Prague Airport is the main international airport
- In 2005, according to the Czech Statistical Office, 65.4% of electricity was produced in steam, combined, and combustion power plants (mostly coal); 30% in nuclear plants; and 4.6% from renewable sources, including hydropower.
- The origins of Škoda go back to the early 1890s where, like many long-established car manufacturers, the company started out with the manufacture of bicycles
- The first model, Voiturette A, was a success and the company was established both within Austria-Hungary and internationally. By 1905 cars were being produced by the firm.
- After WWI it began producing trucks, but in 1924, after running into problems and being hit by a fire, the company sought a partner. As a result it merged with Škoda Works, the biggest industrial enterprise in Czechoslovakia
- The Velvet Revolution brought great changes to Czechoslovakia, and most industries were subject to privatisation. In the case of Škoda Automobile, the government brought in a strong foreign partner. Volkswagen was chosen in 1990 and in April, 1991, Škoda became the fourth brand of the Volkswagen Group
- The latest Octavia is based on Golf Mk5 floorpan, and Fabia is based on the A0 floorpan. This is interesting, as it came out a year before VW released the new Polo that was also based on it
- Škoda now has several manufacturing and assembly plants, including one in Sarajevo, Bosnia and Herzegovina. Škoda also has an assembly plant in the city of Aurangabad, in the western Indian state of Maharashtra which was established in 2001 as Skoda Auto India Private Ltd
Arvind Chaodhary
Roll No - 9
EMP OCT -2007
------------
RBS to pay price of intervention by cutting jobs,
Thousands of jobs are under threat as Royal Bank of Scotland (RBS) slims down its global markets and investment banking division as part of the price of the Government's £20 billion capital injection.
RBS has agreed to “a significant downsizing of capital-intensive businesses” within the division, which employs 25,000 people, most of them in Britain. It has also agreed to reduce proprietary risk, suggesting that proprietary traders could be under threat.
Stephen Hester, the British Land boss who is taking over as chief executive from Sir Fred Goodwin, said that there were no sacred cows, but he added that RBS would remain an important international bank.
He said: “Inevitably, there will be a process of change agreed with my colleagues to overhaul the strategic direction. This bank will be materially changing in a number of ways.”
Arvind Chaodhary
Roll No - 9
--------------
RBS May or may not go in Govt's hands
In the two-step capital-raising, RBS plans to generate £15 billion by issuing new shares available to existing shareholders but underwritten by the Treasury, which will buy any unwanted shares. So the the process will be rights issue, if share holders do not subscribe the issue fully the govt will buy these shares. whatever percentage govt has to buy will be the percentage of govt in the bank.
The Treasury will also buy £5 billion of preference shares paying an interest rate of 12 per cent.
The United Arab Of Emirates (UAE) is a federation of seven sheikhdoms located in the southeastern corner of the Arabian Peninsula.
Bordred by the Sultanate of Oman to the east, Soudi Arabia to the south and west and Arabian Gulf to the north.
The total area of the UAE is about 83,000 sq. Kilometer.The seven emarates are Abu Dhabi,Dubai, Sharjah, Ajman, Ras Al Khamah, Fujairah and Umm Al Quaiwan. The Capital of UAE is Abu Dhabi.
The population of UAE is approx. 6 million. Arabic is the official language and Islam is the state religion. The currency is Dirham.
(1$ equal to 3.7 Dirhams).
The UAE is having worlds highest standards of living and the average life expectancy is 72 years.
The UAE was formerly known as the Trucial Coast. From 1820 onwards Britain establshed its presence in the region with signing of several agreements including maritime truce,which gave its name.
In 1971,Britishers left the Region.
The late Sheikh Zayed bin Sultan Saeed Al Makhtoum, Rulers of Dubai took the initiative to form a federation among the Trucial sheikhdoms.
Hierarchy (as followed in Singapore)
1. Singaporeans claim they are an egalitarian society, yet they retain strong hierarchical relationships that can be observed in the relationship between parents and children, teachers and students, and employers and employees.
2. This goes back to their important cultural value, group dependence.
3. This reliance on hierarchy is drawn from Confucianism, which emphasizes respecting age and status, even blind obedience to one's elders.
4. In the workplace this is seen in the increased deference that is paid to employees who are older.
5. The elderly are always treated with the utmost respect and courtesy.
6. Even if you do not personally know the individual, you will be expected to give special consideration.
7. Elders are introduced first, are given preferential seating, are given the choicest food, and in general put on a pedestal.
8. There was a law passed in 1996 that mandated that children must assume financial responsibility for their elderly parents should the need arise.
9. This is indicative of the high status of the elderly and the challenges facing the small country as the next generation becomes more individualistic.
Importance of Non-Verbal Communication in Singapore
1. Singaporeans are group dependent and rely on facial expression, tone of voice and posture to tell them what someone feels.
2. They often trust non-verbal messages more than the spoken word.
3. They tend to be subtle, indirect and implicit in their communications.
4. They hint at a point rather than making a direct statement, since that might cause the other person to lose face.
5. Rather than say 'no', they might say, 'I will try', or 'I'll see what I can do'. This allows the person making the request and the person turning it down to save face and maintain harmony in their relationship.
6. Silence is an important element of Singaporean communication.
7. Pausing before responding to a question indicates that they have given the question appropriate thought and considered their response carefully.
8. They do not understand western cultures ability to respond to a question hastily and think this indicates thoughtlessness and rude behaviour.
SingTel
Singapore Telecommunications Limited, together with its subsidiaries, provides services and solutions in fixed, mobile and data communications, Internet, IT and consultancy, and satellite.
• Wireline services include cable-based and satellite-based fixed telecommunications network services, such as domestic and IDD services, leased lines, data communications, lease of satellite capacity, Inmarsat, and Internet services.
• Wireless services comprise mobile telecommunications services, such as cellular and paging services, and sale of handsets and pagers.
• Information technology and engineering services portfolio consists of information technology consultancy, systems integration, and engineering services.
• Other businesses include subscription television; technical and management consultancy services; ownership and chartering of barges; provision of storage facilities for submarine cables and related equipment; billing services; IT disaster recovery services; operation and maintenance of fibre optic network between Brisbane and Cairns; research and development of software; and managing and operating a call centre for telecommunications services.
Singapore Telecommunications provides its services to corporate and consumer markets primarily in Singapore and Australia.
The company was founded in 1879 and is headquartered in Singapore. Singapore Telecommunications Limited is a subsidiary of Temasek Holdings (Private) Limited.
SingTel also has extensive overseas investments in Mobile operators around Asia. These include Bharti Airtel of India and Telkomsel of Indonesia.
Arvind Chaodhary
Roll No - 9
-------------
RBS likely to lose private jet and sporting links
-----------
RBS attracted criticism a few years ago when it emerged that the bank leased a luxury jet which was based in Paris and used by Sir Fred. The bank justified the jet on the grounds that its chief executive used the French-made Falcon 900 EX to travel to the sprawling parts of RBS, which include China and the US.
The jet will be among the first assets to be let go, sources said. They added that the Government had already questioned why RBS sponsors Formula 1. This has particularly come into the spotlight as the final round this year is in Brazil, where RBS has a very limited presence. Government insiders also believe that RBS does not need to sponsor the British and American golf Opens. RBS may also have to end its relationship with its golf "ambassador", Jack Nicklaus.
There is a view that its sponsorship of the Six Nations rugby tournament makes sense, as it involves countries where RBS is very active.
Mr Hester insisted on Monday that the Government would not interfere with RBS's commercial decisions. But sources close to the Government pointed out that the Treasury has the right to have input on the appointment of three new non-executive directors and that those individuals will be expected to ensure the Government's interests are looked after and that the bank is not run in a way which will embarrass ministers.
Importance Of Oil in International Business Scenario : Petroleum is major resource for Power Sector now a days.A country's Oil dependancy affect its International Business policies.
Major Oil Producing countries:
Production in Million Barrels/Day
Rank Country Production
1 Saudi Arabia 10.72
2 Russia 9.67
3 United States 8.37
4 Iran 4.15
5 China 3.84
6 Mexico 3.71
7 Canada 3.29
8 United Arab Emirates 2.94
9 Venezuela 2.8
10 Norway 2.79
11 Kuwait 2.67
12 Nigeria 2.44
13 Brazil 2.16
14 Algeria 2.12
15 Iraq 2.01
Source: U.S. Energy Information Administration
Saudi Arabia is at Top in terms of Oil Production.
Oil Consumption in Different Countries :
In Millions of Barrels Per Day
Rank Country Consumption
1 United States 20.59
2 China 7.27
3 Japan 5.22
4 Russia 3.10
5 Germany 2.63
6 India 2.54
7 Canada 2.22
8 Brazil 2.18
9 South Korea 2.16
10 Saudi Arabia 2.07
11 Mexico 2.03
12 France 1.97
13 United Kingdom 1.82
14 Italy 1.71
15 Iran 1.63
Source: U.S. Energy Information Administration
Figures clearly shows advantage in fevour of Saudi Arabia.
It is Top In terms of Oil Production & On the other hand It is at 10th position in terms of Oil consumption.
Saudi Arabia have a clear advantage on this on this Important resource which is crucial in world Economy.
How to Meet and Greet in Singapore
1. Greetings will follow a strict protocol often based on both the ethnic origin and age of the person.
2. Younger people or those who work in multi-national companies may have adopted the western concept of shaking hands with everyone, but this is not the case with older or more reserved Singaporeans.
3. Ethnic Chinese shake hands. Their grasp is rather light although the handshake itself can be rather prolonged.
4. Men and women may shake hands, although the woman must extend her hand first. Introductions are always done in order of age or status.
5. Between men, ethnic Malays shake hands.
6. Men and women do not traditionally shake hands, since Muslim men do not touch women in public.
7. Younger Malays may shake hands with foreign women, but it is more appropriate to use the 'salaam' (bowing the head) greeting.
8. This is also the greeting to be used when two women meet.
9. Ethnic Indians shake hands with members of the same sex.
10. When being introduced to someone of the opposite sex, nodding the head and smiling is usually sufficient.
11. As with the other groups, the elderly or the person with the most status is introduced first.
RBS to stay private?
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Arvind,
Roll No - 9
EMP-OCT-07
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Whisper it softly, but there's just a chance
that Royal Bank of Scotland won't be nationalised after all.
Its shares have been lifted this morning on the wave of global stock-market
euphoria to around 70p, a margin above the 65.5p price being paid by the
government.
At that level, it would be rational for RBS's existing shareholders to exercise
their right to buy the new shares and "deprive" taxpayers of this investment.
After all, if apples - or RBS shares - can be bought from the orchard at 65.5p
when the market price is 70p, you'd be a fool not to buy in the orchard, even if
you plan to dump them almost immediately in the market rather than hold them.
Which means that if RBS's share price were to stay at this level or rise, the
state's stake in RBS might turn out to be far less than the 60% that taxpayers
would own if we bought all the new stock.
The big imponderable is how much spare cash is available to our battered pension
funds and whether some cash-rich overseas investors might be tempted to buy -
because the £15bn that RBS needs is a lot of wonga.
But the important point is that, for all its hideous booboos, RBS is a fearsome
moneymaking machine. And its new chief executive, Stephen Hester, has a
formidable record of sorting out complex financial problems (which he
demonstrated from his time at Abbey).
So private-sector investors might just conclude that this is too attractive an
opportunity to leave for taxpayers.
Whatever happens, RBS will still be lumbered with paying off £5bn of preference
shares which we as taxpayers are buying willy nilly.
Hester didn't want these but he's lumbered with paying the 12% coupon and
ceasing dividend payments on all ordinary shares till the £5bn has been repaid.
That said, it's all looking a lot less bleak than Hester might have feared
yesterday.
Hester may find himself running a bank that can claim with conviction that it's
still largely in the private sector.
And that's all the more humiliating for HBOS, whose shares have also risen this
morning but remain firmly below the subscription price being paid by HM
Treasury.
What is it about HBOS, owner of the Halifax, that makes it less attractive to
investors than RBS?
It's our viciously deflating residential housing market, to which the fortunes
of this market-leading mortgage lender are inextricably linked.
Probably almost nothing can prevent us as taxpayers becoming the full or partial
owners of the three mortgage lenders most closely associated with the bubble
years in UK residential housing.
Soon we'll have the full set of Northern Rock, Bradford & Bingley and HBOS -
which will be seen by many as confirmation that the near-catastrophic failure of
macro-economic management by Bank of England and Treasury over the past few
years was to allow house prices to rise and rise and rise and rise and rise.
SingTel-backed OpenNet wins Singapore NGN tender
The SingTel-backed OpenNet group has won the tender to build Singapore’s government-funded next-gen broadband network (NGN).
The consortium said it would roll out fiber to 95% of the city’s homes by June 2012, offering speeds of up to 1 Gbps.
In winning the contract, OpenNet has won a windfall of as much as S$750 million ($518 million) from the regulator, IDA, for network construction.
It beat off just one rival for the tender, the Infinity group, whose bid was severely embarrassed by the departure of its leader, Hong Kong-based CTI, six weeks ago.
OpenNet itself will only be capitalized at no more than S$165 million, according to Axia NetMedia, the Canadian-based consortium leader. Axia said its capital commitment to the project would be capped at C$36 million (S$49.7 million).
Axia and SingTel each hold a 30% stake in OpenNet. Singapore Press Holdings (SPH) owns 25% and SP Telecom 15%.
Under the terms of the tender, OpenNet will own the dark fiber and other “passive infrastructure” belonging to SingTel and sell access to downstream telcos.
SingTel has committed to transferring the underlying assets, such as ducts, manholes and exchanges, to a neutral and independent company within two years of the close of contract.
Singapore Information, Communications and Arts Minister Lee Boon Yang, said OpenNet had proposed wholesale prices of S$15 per month for a residential and S$50 for a non-residential fiber connection.
A tender for the license to operate wholesale services over the NGN has also underway since April, for which the government has promised to tip in up to S$250 million.
Change of currancy for transactions
in OPEC :
Organization of the Petroleum Exporting Countries (OPEC)
This organization consists of 12 Oil Exporting countries.It is consists of :
Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela
OPEC Secretary General Abdalla Salem el-Badri
Countries not having Good relation with America : Iran & Venezuela,proposed idea of changing Currency of transaction from Dolar to Euro.
Iranian President Mahmoud Ahmadinejad have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a "worthless piece of paper."
According to Venezuelan President Hugo Chavez "the empire of the dollar has to end."
Saudi Arabia's King Abdullah had tried to direct the focus effect of the oil industry on the environment.
Iran and Venezuela have proposed trading oil in a basket of currencies to replace the historic link to the dollar, but they had not been able to generate support from enough fellow OPEC members — many of whom, including Saudi Arabia, are staunch U.S. allies
Tarun Girdhar
EMP-OCT-2007
Roll no-69
I am opting for UK,London,RBS
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain is a sovereign state located off the northwestern coast of continental Europe.
The United Kingdom is a unitary state consisting of four countries: England, Northern Ireland, Scotland and Wales.
Capital
(and largest city) London
51°30′N 0°7′W
Official languages :English
Recognised : Welsh, Irish, Ulster
regional languages: Scots, Scots, Scottish Gaelic, Cornish
Ethnic groups (2001)
92.1% White,
4.00% South Asian, 2.00% Black, 1.20% Mixed Race, 0.80% East Asian and Other
Government Parliamentary system and Constitutional monarchy
- Monarch Queen Elizabeth II
- Prime Minister Gordon Brown MP
Legislature Parliament
- Upper House House of Lords
- Lower House House of Commons
Area
- Total 244,820 km² (79th)
94,526 sq mi
- Water (%) 1.34
Population
- 2007 estimate 60,975,000[5] (22nd)
- 2001 census 58,789,194[6]
- Density 246/km² (48th)
637/sq mi
Currency Pound sterling[9] (GBP)
GDP (nominal) 2008 estimate
- Total $2.78 trillion[7] (5th (as of 2007))
- Per capita $45,681[7] (IMF) (9th (as of 2007))
I am Hemant Pandey, EMP October 2007 batch.
I am opting for South Korea, Seoul and Samsung as 3C's.
South Korea, officially the Republic of Korea and often referred to as Korea , is a presidential republic in East Asia, occupying the southern half of the Korean Peninsula. Also known as the "Land of the Morning Calm", it is neighbored by China to the west, Japan to the east and borders North Korea to the north. South Korea's capital and largest city, Seoul, is a global financial and cultural center and the second largest metropolitan city in the world.
Korea is one of the oldest civilizations in the world, founded in 2333 BC by the legendary Dangun according to Samguk Yusa. The Korean Peninsula was first inhabited as early as the Lower Paleolithic. Following the unification of the Three Korean Kingdoms under Silla in AD 668, Korea went through the Goryeo and Joseon Dynasty as one nation until the end of the Korean Empire in 1910. After division, South Korea was established in 1948 and has since developed a successful democracy, a prosperous economy and an advanced military, maintaining a strong alliance with the United States. It is now working towards a peaceful reunification with North Korea.
South Korea is a major economic power and one of the wealthiest countries in Asia. It is a developed country with a high standard of living, having a trillion dollar economy that is the fourth largest in Asia and 13th largest in the world. Forming the G20 industrial nations and the world's top ten exporters, it is an APEC and OECD member, defined as a High Income Nation by the World Bank and an Advanced Economy by the IMF and CIA. A major non-NATO ally, it has the world's sixth largest armed forces and the tenth largest defence budget in the world. The Asian Tiger is leading the Next Eleven nations and is still among the world's fastest growing developed countries.Today, its success story is known as the "Miracle on the Han River", a role model for many developing countries.
South Korea is leading several key industries in the world, particularly in the fields of science and technology.It has a very advanced and modern infrastructure and is a world leader in information technology such as electronics, semiconductors, LCD displays, computers and mobile phones, led by Samsung and LG. Home of the world's third largest steel producer, POSCO, it is the world's largest shipbuilder, the world's fourth largest oil refiner and one of the world's top five automobile producers, headed by Hyundai and Kia. It is also a leading country in biotechnology, construction, engineering, machinery, petrochemicals, robotics and textiles.
Pawan Arora
EMP Oct-07
Roll No. 46
I am opting the
Country- South Korea
City-Seoul
Compant-Carrier Airconditioning
A Korean Culture Overview
Official name – Republic of Korea
Population – 48, 846, 823*
Official Language –Korean, English widely taught in junior high and high school
Currency – South Korean won (KRW)
Capital city –Seoul
GDP – purchasing power parity $897.4 billion*
GDP Per Capita - purchasing power parity $24,200*
* Source: CIA The World Factbook 2007
Korean business Part 1 – Working in Korea (Pre-departure)
• Working practices in Korea
o Before doing business in Korea prior appointments are required and should generally be made a few weeks in advance. The most suitable times to arrange a business meeting are normally between 10am and 12pm or 2pm and 4pm.
o For both social occasions and business meetings, punctuality is essential. Your Korean counterparts will expect you to arrive on time as a sign of respect; therefore it is advised to call beforehand if you will be delayed. You may find however, that top Korean business executives may arrive a few minutes late to appointments. This is a reflection of their extremely busy and pressured schedule and should not be taken with offence.
o It is recommended that you send any proposals, company brochures, and marketing material, written in both Korean and English, as a preview for your Korean contacts before you visit the country.
• Structure and hierarchy in Korean companies
o Korea is known for its vertical social structure based on age and social status. The organisational arrangement of Korean companies is highly centralised with authority concentrated in senior levels.
o Influenced by Confucianism, Koreans respect for authority is paramount in their business culture and practices. High-ranking individuals tend to have more power over their subordinates than in the West. Consequently, decision making in Korea will follow a formal procedure in which senior approval is necessary.
• Working relationships in Korea
o Generally speaking, responsibility is delegated to trusted, dependable subordinates by their superiors. Therefore, it is imperative not to offend or ignore the lower ranks and to show the various managers the same respect as other senior levels.
o Age is the most essential component within a relationship in Korea. A person older than you automatically holds a certain level of superiority. This is particularly evident in Korean business settings.
o Personal ties in Korea, such as kinship, schools, birthplaces etc, often take precedence over job seniority, rank or other factors, and have significant influence over the structure and management of Korean companies.
Dinesh Kumar Garg
EMP -2007-OCT-20
For International Business Project
Country- Germany
City – Dusseldorf
Company – SMS Demag AG
Germany
Germany officially the Federal Republic of Germany is a country in Central Europe. It is bordered to the north by the North Sea, Denmark, and the Baltic Sea; to the east by Poland and the Czech Republic; to the south by Austria and Switzerland; and to the west by France, Luxembourg, Belgium, and the Netherlands. The territory of Germany covers 357,021 km² and is influenced by a temperate seasonal climate. With over 82 million inhabitants, it has the largest population of any member state of the European Union and is home to the third-largest number of international migrants worldwide.[4]
A region named Germania inhabited by several Germanic peoples has been known and documented before 100 AD. Since the 10th century German territories have formed a central part of the Holy Roman Empire that lasted until 1806. During the 16th century, northern Germany became the centre of the Protestant Reformation. As a modern nation-state, the country was first unified amidst the Franco-Prussian War in 1871. In 1949, after World War II, Germany was divided into two separate states - East Germany and West Germany - along the lines of Allied occupation.[5] The two states were reunified in 1990. West Germany was a founding member of the European Community (EC) in 1957, which became the European Union in 1993. It is part of the borderless Schengen zone and adopted the European currency, the euro, in 1999.
Germany is a federal parliamentary republic of sixteen states (Länder). The capital and largest city is Berlin. Germany is a member of the United Nations, NATO, the G8, the G4 nations, and signed the Kyoto protocol. It is a major economic power with the world's third largest economy by nominal GDP and the largest exporter of goods in 2007. In absolute terms, Germany allocates the second biggest annual budget of development aid in the world,[6] while its military expenditure ranked sixth.[7] The country has developed a high standard of living and established a comprehensive system of social security. It holds a key position in European affairs and maintains a multitude of close partnerships on a global level.[8] Germany is recognized as a scientific and technological leader in several fields.[9]
Dusseldrof
Düsseldorf (IPA: [ˈdʏsəldɔɐf]) is the capital city of the German state of North Rhine-Westphalia. It is an economic centre of Germany. The city is situated on the River Rhine and has a high population density - the Rhine-Ruhr metropolitan area has over 10 million inhabitants alone. The city is renowned for its many events and also for its fashion and trade fairs. Every July more than 4.5 million people visit the Große Düsseldorfer Kirmes fair.
To know more about Dusseldorf please check the following link
http://en.wikipedia.org/wiki/D%C3%BCsseldorf
SMS Demag AG
SMS Demag AG belongs to SMS GmbH. This is the holding for a group of companies internationally active in plant construction and mechanical engineering relating to the processing of steel and nonferrous metals. In the year 2007 some 8,000 employees worldwide generated a turnover of about EUR 3 billion
Dear Friends
I have chosen china as the country of my specialization. In the last few days, I searched quite a few websites on China and had a chance to talk to a couple of Chinese guys who are working for one of our business partner. I am sharing my understanding in the for of below writeup. Most of it is available on internet but this one is a little condensed and some of you may really like it.
China (Officially, People’s republic of China as distinguished from Taiwan which is officially called Republic of China due to historical reasons), is world's fourth largest country (after Russia, Canada, and US) in terms of landmass with a total area of about 9.5 million sq. Km and the largest in terms of population with about 1.33 billion people (largest chunk is the currently working population – 71% in age group 15-64 years). Official language is Standard Chinese or Mandarin but there are a number of dialects widely different from each other are spoken in different geographical areas.
China has got rich endowment of natural resources like coal, iron ore, petroleum, natural gas, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium etc. and has world’s largest hydropower potential. Climate is extremely diverse: tropical in south to subarctic in north, terrain is mostly mountains, high plateaus, deserts in west; plains, deltas, and hills in east. Major environment challenges faced by China today are: air pollution (greenhouse gases, sulfur dioxide particulates) from reliance on coal produces acid rain; water shortages, particularly in the north; water pollution from untreated wastes; deforestation; estimated loss of one-fifth of agricultural land since 1949 to soil erosion and economic development; desertification; trade in endangered species etc.
For centuries China stood as a leading civilization, outpacing the rest of the world in the arts and sciences, but in the 19th and early 20th centuries, the country was beset by civil unrest, major famines, military defeats, and foreign occupation. After World War II, the Communists under MAO Zedong established an autocratic socialist system that, while ensuring China's sovereignty, imposed strict controls over everyday life and cost the lives of tens of millions of people. After 1978, his successor DENG Xiaoping and other leaders focused on market-oriented economic development and by 2000 output had quadrupled. For much of the population, living standards have improved dramatically and the room for personal choice has expanded, yet political controls remain tight. Economic and social development parameters of China are quite impressive: literacy rate is around 91% (against 61% of India), GDP at official exchange rate is $3.25 trillion (more than 3 times of that of India), Current account BOP is $371 b (against $ -12b of India), Teledensity is 88% (against 29% of India) and a consistent double digit GDP growth rate for last 15 years.
Administratively, China is divided in to 22 provinces, 5 autonomous regions, 4 municipalities and 2 special administrative regions.
I wanted to put a map of china for reference but could not upload it. In the next few days, I will write more about China. I am planning to study a fast growing Chinese company called Huawei Telecom. Will write something about it in coming days.
Sandeep Goel
Emp-Oct-2007
Roll No. 60
I am chosing Country France, City - Velizy & Company Alcatel-Lucent
CCC
Country :- Japan
City :- Kumumoto
Company :- Honda
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EMPOCT'07-No 60
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The French are often perceived as taking a great pride in national identity and the positive achievements of France and cultural issues are more integrated in the body of the politics than elsewhere. The French Revolution claimed universalism for the democratic principles of the Republic. Charles de Gaulle actively promoted a notion of French "grandeur" ("greatness"). Perceived declines in cultural status are a matter of national concern and have generated national debates, both from the left and from the right.
French culture is profoundly allied with the French language. The artful use of the mother tongue, and its defense against perceived decline or corruption by foreign terms, is a major preoccupation for some people and entities.
The Académie française sets an official standard of language purity.France counts many regional languages, some of them being very different from standard French such as Breton and Alsatian. Some regional languages are Romance, like French, such as Provençal. The Basque language is completely unrelated to French and indeed, to any other language in the world; its area straddles the border between the south west of France and the north of Spain.
France is a secular country where freedom of thought and of religion is preserved.
French population describe themselves as Catholics -- and only half of those said they believed in God--, 31% as atheists, 4% as Muslims, 3% as Protestants and 1% as Jews.
The evolution of the French state and culture, from the Renaissance to today, has however promoted a centralization of politics, media, and cultural production in and around Paris and the industrialization of the country in the twentieth century has led to a massive move of French people from the countryside to urban areas.There are huge differences in life style, socioeconomic status and world view between Paris and the countryside provinces. The French often use the expression "la France profonde" ("Deep France", similar to "heartland") to designate the profoundly "French" aspects of provincial towns, village life and rural agricultural culture.
Industrialization, immigration and urbanization in the nineteenth and twentieth centuries have also created new socioeconomic regional communities in France, both urban (like Paris, Lyon, Villeurbanne, Lille, Marseille, etc.) and the suburban and working class hinterlands (like Seine-Saint-Denis) of urban agglomerations (called variously banlieues ("suburbs", sometimes qualified as "chic" or "pauvres") or les cités ("housing projects") which have developed their own "sense of place" and local culture (much like the various boroughs of New York City or suburbs of Los Angeles), as well as cultural identity
For better or worse, the U.S. economy is at or near the top in a number of international rankings:
No. 1 in economic output, called gross domestic product, amounting to $13.13 trillion in 2006. With less than 5 percent of the world's population, at about 302 million, the United States accounts, by different measures, for between 20 and 30 percent of world GDP. The GDP of just one state, California, amounting to $1.5 trillion in 2006, exceeded the GDP in all but about eight countries that year.
No. 1 in total imports, some $2.2 trillion in 2006, about twice that for the country with the next highest level, Germany.
No. 2 in exports of goods, $1 trillion in 2006, behind only Germany, although China is predicted to surpass the United States in 2007. No. 1 in exports of services, $422 billion in 2006.
No. 1 trade deficit, $758.5 billion in 2006, many times that of any other country.
No. 2 in maritime container traffic in 2006, behind only China.
No. 1 in external debt, estimated at more than $10 trillion mid-2006.
No. 1 destination for foreign investment, an inflow of more than $1.5 trillion in 2006.
No. 1 for inflow of foreign direct investment—businesses and real estate—about $177.3 billion in 2006. No. 1 destination for foreign direct investment by the world's 100 biggest multinational corporations, including corporations from developing countries.
No. 5 in holdings of reserve assets in 2005 at $188.3 billion, 4 percent of the world's share, behind Japan and China (each with 18 percent), Taiwan and South Korea, and just ahead of Russia. No. 15 in reserves of foreign exchange and gold, about $69 billion in mid-2006.
No. 1 source of remittances to Latin America and the Caribbean, about three-fourths of the total $62 billion in 2006, from people who migrated out of those regions to find work abroad.
No. 1 in petroleum consumption, about 20.6 million barrels a day in 2006, and No. 1 in crude oil imports, more than 10 million barrels a day.
No. 3 in ease of doing business in 2007, after Singapore and New Zealand.
No. 20 of 163, tied with Belgium and Chile, in Transparency International's 2006 index measuring perceptions about corruption (lowest-numbered economies are viewed as least corrupt).
Name:Sumit Mahajan
Roll No: 07EMP02-65
Country Chosen for IB Class: Sweden
City Chosen : Kista
Company Name : Ericsson
Roll No - 9
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UK Poltics and Govenrnment
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The United Kingdom is a constitutional monarchy with Queen Elizabeth II as head of state; the monarch of the UK also serves as head of state of fifteen other Commonwealth countries, putting the UK in a personal union with those other states. The Crown has sovereignty over the Isle of Man and the Bailiwicks of Jersey and Guernsey. Collectively, these three territories are known as the Crown Dependencies, lands owned by the British monarch but not part of the United Kingdom. They are not part of the European Union. However, the Parliament of the United Kingdom has the authority to legislate for the dependencies, and the British government manages their foreign affairs and defence.
The UK has fourteen overseas territories around the world, the last remaining territories of the British Empire. The overseas territories are not considered part of the UK, but in most cases the local populations have British citizenship and the right of abode in the UK. This has been the case since 2002.
The UK has a parliamentary government based on strong traditions: the Westminster system has been emulated around the world — a legacy of the British Empire.
The Constitution of the United Kingdom governs the legal framework of the country and consists mostly of written sources, including statutes, judge made case law, and international treaties. As there is no technical difference between ordinary statutes and law considered to be "constitutional law," the British Parliament can perform "constitutional reform" simply by passing Acts of Parliament and thus has the power to change or abolish almost any written or unwritten element of the constitution. However, no Parliament can pass laws that future Parliaments cannot change.The United Kingdom is one of the three countries in the world today that does not have a codified constitution (the other two being New Zealand and Israel).
The UK's remaining overseas territoriesThe Parliament of the United Kingdom that meets in the Palace of Westminster is the ultimate legislative authority in the United Kingdom. It has two houses: an elected House of Commons and an appointed House of Lords, and any Bill passed requires Royal Assent to become law. A devolved parliament in Scotland and devolved assemblies in Northern Ireland, and Wales were established following public approval as expressed in referenda, but these are not sovereign bodies and could be abolished by the UK parliament.
The Houses of ParliamentThe position of Prime Minister, the UK's head of government, belongs to the Member of Parliament who can obtain the confidence of a majority in the House of Commons, usually the current leader of the largest political party in that chamber. The Prime Minister and Cabinet are formally appointed by the Monarch to form Her Majesty's Government. Though the Prime Minister chooses the Cabinet, and by convention HM The Queen respects the Prime Minister's choices. The Cabinet is traditionally drawn from members of the Prime Minister's party in both legislative houses, and mostly from the House of Commons, to which they are responsible. Executive power is exercised by the Prime Minister and Cabinet, all of whom are sworn into Her Majesty's Most Honourable Privy Council, and become Ministers of the Crown. The Rt Hon Gordon Brown MP, leader of the Labour Party, has been Prime Minister, First Lord of the Treasury and Minister for the Civil Service since 27 June 2007.
For elections to the House of Commons, the UK is currently divided into 646 constituencies, with 529 in England, 18 in Northern Ireland, 59 in Scotland and 40 in Wales, though this number will rise to 650 at the next General Election. Each constituency elects one Member of Parliament by simple plurality. General Elections are called by the Monarch when the Prime Minister so advises. Though there is no minimum term for a Parliament, a new election must be called within five years of the previous general election.
For elections to the European Parliament, the UK has 78 MEPs, elected in 12 multi-member constituencies.Questions over sovereignty have been brought forward due to the UK's membership of the European Union.
The UK's three major political parties are the Labour Party, the Conservative Party, and the Liberal Democrats, winning between them 616 out of the 646 seats available in the House of Commons at the 2005 general election. Most of the remaining seats were won by parties that only contest elections in one part of the UK such as the Scottish National Party (Scotland only), Plaid Cymru (Wales only), and the Democratic Unionist Party, Social Democratic and Labour Party, Ulster Unionist Party, and Sinn Féin (Northern Ireland only, though Sinn Féin also contests elections in Ireland). In accordance with party policy, no elected Sinn Féin Member of Parliament has ever attended the House of Commons to speak in the House on behalf of their constituents as Members of Parliament are required to take an oath of allegiance to the Monarch.
• Business practices in Korea
o The exchange of business cards in Korea is vital for initiating introductions. Korean’s prefer to know the person they are dealing with. Therefore, it is important to emphasise your title so that the correct authority, status, and rank is established. It is advised to have the reverse side of your card translated into Korean. Cards should be presented and accepted with both hands and must be read and studied with respect and consideration before placing them on the table.
o Gift-giving is a common practice within Korean business settings. Generally given at the first business meeting, gifts are often used to acquire favours and build relationships. You should allow the host to present his gift first and be sure to accept the gift with both hands. To avoid loss of face, gifts of similar value should be exchanged and gifts of greater value should be given to the most senior person respectively.
o Like most Asian countries, Koreans believe that contracts are a starting point, rather than the final stage of a business agreement and prefer them to be left flexible enough so that adjustments can be made. Although many Koreans now appreciate the legal implications regarding the signing of contracts, they may still be interpreted as less important than the interpersonal relationship established between the two companies. It is vital that you are aware of how your Korean counterparts view these documents in order to avoid any possible misunderstandings.
o When meeting your Korean counterpart for the first time, always wait to be introduced as third party introductions are generally preferred. Today, it is quite common for Koreans to shake hands with foreign colleagues after a bow, encompassing both cultural styles. To show respect during handshaking, you should ensure that you support your right forearm with the left hand. When departing, a bow is usually sufficient.
A book on Int'l Business Blunders..
http://rapidshare.com/files/156016475/Blunders_in_Int_l_Business__by_David_Ricks__.zip
Interesting read!!
Roll N0 - 9
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UK, OVERSEAS TERRTORIES
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The UK has fourteen overseas territories around the world, the last remaining territories of the British Empire. The overseas territories are not considered part of the UK, but in most cases the local populations have British citizenship and the right of abode in the UK. This has been the case since 2002.
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The British Overseas Territories are fourteen territories that are under the sovereignty of the United Kingdom, but which do not form part of the United Kingdom itself.
The name British Overseas Territory was introduced by the British Overseas Territories Act 2002, and replaced the name British-Dependent Territory, which was introduced by the British Nationality Act 1981. Before that, the territories were known as colonies or Crown colonies. The British Overseas Territories are also referred to as overseas territories of the United Kingdom, UK overseas territories, or, when the context is clear, simply the Overseas Territories.
The territories of Jersey, Guernsey, and the Isle of Man, though also under the sovereignty of the British Crown, have a slightly different constitutional relationship with the United Kingdom, and are consequently classed as Crown dependencies rather than Overseas Territories. Territories and dependencies are distinct from the Commonwealth of Nations, a voluntary association of former British colonies and latterly other nations such as Mozambique that have joined because of the benefits it offers.
In a historical context, colonies should be distinguished from protectorates and protected states, which though under British control, were nominally independent states, whereas colonies were part of the British state. They should also not be confused with Dominions, which, known collectively as the Commonwealth, were independent states, held to be equal in sovereign status to the United Kingdom within the Empire and Commonwealth after the Statute of Westminster in 1931. Crown colonies, such as Hong Kong, were differentiated from other colonies in being administered directly by the Crown, without the degree of local autonomy found in self-governed colonies such as Bermuda.
The current population of all UK overseas territories is estimated at 247,899
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-Arvind
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GAURAV DHAWAN
Roll No.21
EMP OCT 2007
C OUNTRY : SPAIN
C ITY : BARCELONA
C OMPANY : Zara (clothing)
SPAIN is a country located in southwestern Europe on the Iberian Peninsula.
Its mainland is bordered to the south and east by the Mediterranean Sea except for a small land boundary with Gibraltar; to the north by France, Andorra, and the Bay of Biscay; and to the west by the Atlantic Ocean and Portugal.
MADRID is the Capital of SPAIN.
SPAIN has 2nd highest number of UNESCO WORLD HERITAGE SITES totalling 40
BURGOS CATHEDRAL
HISTORIC CENTER OF CORDOBA
WORKS OF ANTONI GAUDI to name a few
Top 10 CITIES OF SPAIN (population wise)
1. MADRID
2. BARCELONA
3. VALENCIA
4. SEVILLE
5. ZARAGOZA
6. MALAGA
7. MURCIA
8. PALMA DE MALLORCA
9. LAS PALMAS DE GRAN CANARIA
10.BILBAO
Spain is the second largest country in Western Europe after France.
SPANISH also known as CASTILIAN is the only language with official status nationwide.
ROMAN CATHOLICISM is the main(76% of SPANIARDS are CATHOLICS) religion in Spain.
===========================
Sandeep Goel
EMP OCT 07 - 60
============================
Families and romantic relationships
Household structure
Growing out of the values of the Catholic church and rural communities, the basic unit of French society was traditionally held to be the family .Over the twentieth century, the "traditional" family structure in France has evolved from extended families to, after World War II, nuclear families.
According to INSEE figures, household and family composition in metropolitan France continues to evolve. Most significantly, from 1982 to 1999, single parent families have increased from 3.6% to 7.4%; there have also been increases in the number of unmarried couples, childless couples, and single men (from 8.5% to 12.5) and women (from 16.0% to 18.5%). Their analysis indicates that "one in three dwellings are occupied by a person living alone; one in four dwellings are occupied by a childless couple."
Voted by the French Parliament in November 1999 following some controversy, the pacte civil de solidarité ("civil pact of solidarity") commonly known as a PACS, is a form of civil union between two adults (same-sex or opposite-sex) for organising their joint life. It brings rights and responsibilities, but less so than marriage. From a legal standpoint, a PACS is a "contract" drawn up between the two individuals, which is stamped and registered by the clerk of the court. Individuals who have registered a PACS are still considered "single" with regard to family status for some purposes, while they are increasingly considered in the same way as married couples are for other purposes. While it was pushed by the government of Prime Minister Lionel Jospin in 1998, it was also opposed, mostly by people on the right-wing who support traditionalist family values and who argued that PACS and the recognition of homosexual unions would be disastrous for French society.
Same-sex marriage is however not legal in France.
Role of the State
The French state has traditionally played a key role in promoting and supporting culture through the educational, linguistic, cultural and economic policies of the government and through its promotion of national identity. Because of the closeness of this relationship, cultural changes in France are often linked to, or produce, political crisis.At times, French state policies have sought to unify the country around certain cultural norms, while at other times they have promoted regional differences within a heterogeneous French identity.
The cultural policies of the (current) French Fifth Republic have been varied, but a consensus seems to exist around the need for preservation of French regionalisms (such as food and language) as long as these don't undermine national identity.
Education
The French educational system is highly centralised, organised, and ramified. It is divided into three different stages:
primary education (enseignement primaire);
secondary education (enseignement secondaire);
higher education (enseignement supérieur").
Primary and secondary education is predominantly public (private schools also exist, in particular a strong nationwide network of primary and secondary Catholic education), while higher education has both public and private elements. At the end of secondary education, students take the baccalauréat exam, which allows them to pursue higher education.
The current populatio of USA is 305470280
COMPONENT SETTINGS FOR OCTOBER 2008
One birth every.... 7 seconds
One death every..... 13 seconds
One intnl migrant every 30 seconds
Net gain of 1 person every. 11seconds
Tips for Negotiating Business in Singapore
1. Always send a list of people who will be attending the negotiations and their title well in advance.
2. Always wait to be told where to sit. There is a strict hierarchy that must be followed.
3. Business negotiations happen at a slow pace.
4. Singaporeans are non-confrontational. They will not overtly say 'no'; likewise, their 'yes' does not always signify agreement.
5. Singaporeans give a respectful pause of up to 15 seconds before answering a question. Do not start speaking too quickly or you will miss the answer.
6. Be prepared with a mental list of concessions you would be willing to make that would not injure your own business.
7. Singaporeans are tough negotiators on price and deadlines.
8. Decisions are consensus driven
9. Avoid losing your temper or you will lose face and damage your relationship.
10. If you are signing a contract with ethnic Chinese, the signing date may be determined by an astrologer or a geomancer (feng shui man).
Cultural/Business Etiquette-Sweden:
Sweden is a predominantly middle class country with one of the most far-reaching social security systems in the world. Patriotism is important to Swedes, who are very proud of their nation, towns and regions.
Meeting and Greeting
1. Shake hands with everyone present -- men, women, and children -- at business and social meetings. Shake hands again when leaving.
2. Younger people generally do not shake hands when meeting friends. Older people expect a handshake when being greeted or when leaving.
3. If no one is available to introduce you, shake each person's hand and introduce yourself.
Body Language
1. Generally, Swedes are reserved in body language. They do not embrace or touch often in public.
2. Maintain eye contact at all times while talking with someone.
Corporate Culture
3. Swedes take punctuality for business meetings very seriously and expect you to do likewise. Call with an explanation if you are delayed.
4. Use last names and appropriate titles until specifically invited by your Swedish host or colleague to use first names.
5. English is commonly used in business. An interpreter is rarely necessary. Business cards in English are acceptable.
6. During business meetings, Swedes usually get right down to business after very brief cordialities.
7. Agendas are clearly set for meetings with a stated purpose.
8. Swedes are factual, practical, precise, reserved and get to the point quickly. When communicating with Swedes, be clear and concise in detailing what you expect from them. They will be equally clear with you.
9. Presentations are important. They should be clear, to the point and detailed.
10. Reports, briefings and presentations should be backed up by facts, figures, tables and charts.
11. Swedes are generally tough negotiators. They are methodical and detailed, slow to change their positions and will push hard for concessions.
12. In the relatively small private sector, it is important to know who is who and how everyone fits in the corporate structure. Important decisions are often made by middle and lower level managers.
13. While decision making may be a slow process, implementing decisions is often rapid.
14. Do not call a Swedish businessperson at home unless it is important and you have a well-established relationship with this person.
Dining and Entertainment
1. To beckon a waiter wave your hand and make eye contact.
2. Business entertaining is most often done in a restaurant during lunch or dinner. Business breakfasts are acceptable, but not as common as in the U.S. Business can be discussed at any time during a meal.
3. Spouses may be included in business dinners.
4. Female guest of honor is seated to the right of the host. Male guest of honor is seated to left of the hostess.
5. Dinner is often served immediately at dinner parties. There may be no cocktail hour.
6. Toasting is something of a formal ritual in Sweden. Don't take a drink until your host has given a toast.
7. Look into the eyes of the person being toasted and say Skål (Skohl).
8. Allow hosts and seniors in rank and age to toast first.
9. When toasting, make eye contact and nod to the others present, before putting your glass down.
10. After making a toast, the men wait for the women to put their glasses down first. Do this immediately. It can be annoying for men to wait too long for the women to put their glasses down.
11. The meal ends with the male guest of honor tapping his glass with a knife or spoon and thanking the hostess on behalf of all the guests. The female guest of honor should thank the host.
12. A butter knife is usually provided. Do not use a dinner knife for butter.
13. Always ask permission before smoking.
14. Keep your hands on the table at all times during a meal -- not in your lap -- and keep your elbows off the table.
15. It is polite to try everything served.
16. When finished eating, place knife and fork side by side on the plate at the 5:25 position.
17. Call or write the next day to thank your host and hostess.
18. Do not ask for a tour of your host's home unless you have a well established relationship.
Dress
1. Swedes wear fashionable, but often casual, European style warm clothing. It is important to be well dressed in public at all times.
2. For business, men should wear conservative suits and ties. Women should wear dresses, suits, and pantsuits.
Gifts
1. Gifts are generally not exchanged in business, but it is common to give small Christmas gifts to a Swedish colleague. Gifts representative of one's business or home area are appropriate.
2. When invited to someone's home, always bring a small gift for the hostess. If host has children, a small gift of candy is appreciated.
3. Give flowers (unwrap before giving), wine (liquor is special because it is very expensive in Sweden), chocolates, books and recorded music. Do not give crystal or items made in Sweden.
4. Gifts are opened immediately.
Helpful Hints
1. Knowledge about Sweden's economy, high standard of living, sports, architecture, history, etc. is appreciated.
2. Remember to thank someone for dinner or gift upon next meeting.
3. Men should tip their hats to women and remove their hats while talking to women.
4. Do not praise another city or area in Sweden over the one you are presently visiting. Swedes are very proud of their own town or region.
5. Do not criticize Swedish lifestyle, sexual habits, suicide rate, prices, etc.
6. Do not compliment lightly. Insincere comments are considered rude.
Especially For Women
1. In Sweden, women make up 48% of the work force -- the highest percentage of working women in the world.
2. Foreign businesswomen are widely accepted and should encounter few problems conducting business in Sweden.
3. Businesswomen may pay the check in a restaurant without any embarrassment.
GAURAV DHAWAN
Roll # 21(EMP OCT '07)
C OUNTRY: SPAIN
C ITY : BARCELONA
C OMPANY: ZARA(Clothing)
BARCELONA is the 2nd Largest city of Spain.Barcelona is a major economic centre with one of Europe's principal Mediterranean ports, and Barcelona International Airport is the second largest in Spain. Founded as a Roman city, Barcelona became the capital of the Counts of Barcelona. After merging with the Kingdom of Aragon, it became one of the most important cities of the Crown of Aragon. Besieged several times during its history, Barcelona is today an important cultural centre and a major tourist destination and has a rich cultural heritage. Particularly renowned are architectural works of Antoni Gaudí and Lluís Domènech i Montaner that have been designated UNESCO World Heritage Sites. The city is well known in recent times for the 1992 Summer Olympics.
Barcelona has a Mediterranean climate, with sub-mediterranean influence, which makes of it not to be the "classical mediterranean climate" with mild, humid winters and warm, dry summers. Barcelona is located in the eastern coast of the Iberian Peninsula, so, the usual west winds, specially in winters, which cause the wet climate in many places of Western Europe, arrive in Barcelona with low humidity, producing no rain.
Z A R A
Zara is the flagship chain store of Inditex Group owned by Spanish tycoon Amancio Ortega, who also owns brands such as Massimo Dutti, Pull and Bear, Oysho, Uterqüe, Stradivarius and Bershka. The group is headquartered in A Coruña, Spain, where the first Zara store opened in 1975. It is claimed that Zara needs just two weeks to develop a new product and get it to stores, compared with a six-month industry average, and launches around 10,000 new designs each year.
Zara was described by Louis Vuitton fashion director Daniel Piette as "possibly the most innovative and devastating retailer in the world"
Zara has resisted the industry-wide trend towards transferring production to low-cost countries. Perhaps its most unusual strategy was its policy of zero advertising; the company preferred to invest a percentage of revenues in opening new stores instead.
From:
Anuj Dhingra, Roll no-6
Rahul Chauhan, Roll no-50
Australia, officially the Commonwealth of Australia, is a country in the southern hemisphere comprising the mainland of the world's smallest continent, the major island of Tasmania and numerous other islands in the Indian and Pacific Oceans.N4 Neighbouring countries include Indonesia, East Timor and Papua New Guinea to the north, the Solomon Islands, Vanuatu and New Caledonia to the northeast, and New Zealand to the southeast. Australia is the only single country to occupy an entire continent.
Prior to European settlement in the late 1700's and early 1800's, the Australian mainland was inhabited by around 250 individual nations[citation needed] of indigenous Australians who lived sustainably on the land for around 40,000 years.[6] After sporadic visits by fishermen from the north and then European discovery by Dutch explorers in 1606,[7] the eastern half of Australia was later claimed by the British in 1770 and initially settled through penal transportation to the colony of New South Wales, commencing on 26 January 1788. As the population grew and new areas were explored, another five largely self-governing Crown Colonies were established during the 19th century.
On 1 January 1901, the six colonies became a federation, and the Commonwealth of Australia was formed. Since federation, Australia has maintained a stable liberal democratic political system and remains a Commonwealth realm. The capital city is Canberra, located in the Australian Capital Territory (ACT). The population is just over 21.3 million, with approximately 60% of the population concentrated in and around the mainland state capitals of Sydney, Melbourne, Brisbane, Perth and Adelaide
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. The Australian Securities Exchange and the Sydney Futures Exchange are the largest stock exchanges in Australia.
Australia is one of the most laissez-faire capitalist economies according to indices of economic freedom. Australia's per-capita GDP is slightly higher than that of the UK, Germany, and France in terms of purchasing power parity. The country was ranked third in the United Nations 2007 Human Development Index and sixth in The Economist worldwide Quality-of-Life Index 2005. Australia also broke a record in 2008 when four of its major cities ranked in the top ten of The Economist's World's Most Livable Cities list, with Melbourne coming in at 2nd, Perth at 4th, Adelaide at 7th, and Sydney at 9th.[41] The emphasis on exporting commodities rather than manufactures has underpinned a significant increase in Australia's terms of trade during the rise in commodity prices since the start of the century. Australia's balance of payments is more than 7% of GDP negative: Australia has had persistently large current account deficits for more than 50 years.[42] Australia has grown at an average annual rate of 3.6% for over 15 years, a period in which the OECD annual average was 2.5%.[42]
The Hawke Government floated the Australian dollar in 1983 and partially deregulated the financial system.[43] The Howard government followed with a partial deregulation of the labour market and the further privatisation of state-owned businesses, most notably in the telecommunications industry.[44] The indirect tax system was substantially changed in July 2000 with the introduction of a 10% Goods and Services Tax (GST), which has slightly reduced the reliance on personal and company income tax that characterises Australia's tax system.
In January 2007, there were 10,033,480 people employed, with an unemployment rate of 4.6%.[45] Over the past decade, inflation has typically been 2–3% and the base interest rate 5–6%. The service sector of the economy, including tourism, education and financial services, constitutes 69% of GDP.[46] Although Agriculture and natural resources constitute only 3% and 5% of GDP, respectively, they contribute substantially to export performance. Australia's largest export markets are Japan, China, the US, South Korea and New Zealand.[47]
JERUSALEM
A City Divided
When the United Nations took up the Palestine question in 1947, it recommended that all of Jerusalem be internationalized. The Jewish Agency, after much soul-searching, agreed to accept internationalization in the hope that in the short-run it would protect the city from bloodshed and the new state from conflict. The Arab states were as bitterly opposed to the internationalization of Jerusalem as they were to the rest of the partition plan. Prime Minister David Ben-Gurion, subsequently, declared that Israel would no longer accept the internationalization of Jerusalem.
In May 1948, Jordan invaded and occupied east Jerusalem, dividing the city for the first time in its history, and driving thousands of Jews — whose families had lived in the city for centuries — into exile.
For the next 19 years, the city was split, with Israel establishing its capital in western Jerusalem and Jordan occupying the eastern section, which included the Old City and most religious shrines.
In 1950, Jordan annexed all the territory it occupied west of the Jordan River, including east Jerusalem.
The other Arab countries denied formal recognition of the Jordanian move, and the Arab League considered expelling Jordan from membership. Eventually, a compromise was worked out by which the other Arab governments agreed to view all the West Bank and east Jerusalem as held "in trust" by Jordan for the Palestinians.
From 1948-67, the city was divided between Israel and Jordan. Israel made western Jerusalem its capital; Jordan occupied the eastern section. Because Jordan — like all the Arab states at the time — maintained a state of war with Israel, the city became two armed camps, replete with concrete walls and bunkers, barbed-wire fences, minefields and other military fortifications.
In violation of the 1949 Armistice Agreement, Jordan denied Israelis access to the Temple Wall and to the cemetery on the Mount of Olives, where Jews have been burying their dead for 2,500 years. Jordan actually went further and desecrated Jewish holy places. King Hussein permitted the construction of a road to the Intercontinental Hotel across the Mount of Olives cemetery. Hundreds of Jewish graves were destroyed by a highway that could have easily been built elsewhere. The gravestones, honoring the memory of rabbis and sages, were used by the engineer corps of the Jordanian Arab Legion as pavement and latrines in army camps. The ancient Jewish Quarter of the Old City was ravaged, 58 Jerusalem synagogues — some centuries old — were destroyed or ruined, others were turned into stables and chicken coops. Slum dwellings were built abutting the Western Wall.
Jews were not the only ones who found their freedom impeded. Under Jordanian rule, Israeli Christians were subjected to various restrictions, with only limited numbers allowed to visit the Old City and Bethlehem at Christmas and Easter. Because of these repressive policies, many Christians emigrated from Jerusalem, leading their numbers to dwindle from 25,000 in 1949 to less than 13,000 in June 1967.
Jerusalem is Unified
In 1967, Jordan ignored Israeli pleas to stay out of the Six-Day War and attacked the western part of the city. The Jordanians were routed by Israeli forces and driven out of east Jerusalem, allowing the city's unity to be restored. Teddy Kollek, Jerusalem’s mayor for 28 years, called the reunification of the city "the practical realization of the Zionist movement's goals." Today, a museum devoted to promoting dialogue and coexistence, the Museum on the Seam, is located at the junction of East and West Jerusalem.
Freedom of Religion
After the war, Israel abolished all the discriminatory laws promulgated by Jordan and adopted its own tough standard for safeguarding access to religious shrines. "Whoever does anything that is likely to violate the freedom of access of the members of the various religions to the places sacred to them," Israeli law stipulates, is "liable to imprisonment for a term of five years." Israel also entrusted administration of the holy places to their respective religious authorities.
Muslim rights on the Temple Mount, the site of the Dome of the Rock and the Al-Aksa Mosque, have not been infringed, and the holy places are under the supervision of the Muslim Waqf. Although it is the holiest site in Judaism, Israel has left the Temple Mount under the control of Muslim religious authorities.
Since 1967, hundreds of thousands of Muslims and Christians — many from Arab countries that remain in a state of war with Israel — have come to Jerusalem to see their holy places. Arab leaders are free to visit Jerusalem to pray if they wish to, just as Egyptian President Anwar Sadat did at the El-Aksa mosque.
Along with religious freedom, Palestinian Arabs in Jerusalem have unprecedented political rights. Arab residents were given the choice of whether to become Israeli citizens. Most chose to retain their Jordanian citizenship. Moreover, regardless of whether they are citizens, Jerusalem Arabs are permitted to vote in municipal elections and play a role in the administration of the city.
The Final Status of Jerusalem
\
The Israeli-Palestinian Declaration of Principles (DoP) signed September 13, 1993, leaves open the status of Jerusalem. Other than this agreement to discuss Jerusalem during the final negotiating period, Israel conceded nothing else regarding the status of the city during the interim period. Israel retains the right to build anywhere it chooses in Jerusalem and continues to exercise sovereignty over the undivided city. Meanwhile, the Palestinians maintain that Jerusalem should be the capital of an independent Palestinian state.
Jerusalem is one issue on which the views of Israelis are unanimous: The city must remain the undivided capital of Israel. Still, efforts have been made to find some compromise that could satisfy Palestinian interests. For example, one suggestion is to allow the Palestinians to set up their capital in a West Bank suburb of Jerusalem — Abu Dis.
Roll No - 9
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UK economy
---------------
The UK economy is made up (in descending order of size) of the economies of England, Scotland, Wales and Northern Ireland. Based on market exchange rates, the United Kingdom is today the fifth largest economy in the world and the second largest in Europe after Germany.
The Industrial Revolution started in the United Kingdom with an initial concentration on heavy industries such as shipbuilding, coal mining, steel production, and textiles. The empire created an overseas market for British products, allowing the UK to dominate international trade in the 19th century. However, as other nations industrialised, coupled with economic decline after two world wars, the United Kingdom began to lose its competitive advantage and heavy industry declined, by degrees, throughout the 20th century. Manufacturing remains a significant part of the economy, but accounted for only one-sixth of national output in 2003. The British motor industry is a significant part of this sector, although it has diminished with the collapse of the MG Rover Group and most of the industry is foreign owned. Civil and defence aircraft production is led by the United Kingdom's largest aerospace firm, BAE Systems, and the continental European firm EADS, the owner of Airbus. Rolls-Royce holds a major share of the global aerospace engines market. The chemical and pharmaceutical industry is strong in the UK, with the world's second and sixth largest pharmaceutical firms (GlaxoSmithKline and AstraZeneca, respectively) being based in the UK.
The UK service sector, however, has grown substantially, and now makes up about 73% of GDP.The service sector is dominated by financial services, especially in banking and insurance. London is the world's largest financial centre with the London Stock Exchange, the London International Financial Futures and Options Exchange, and the Lloyd's of London insurance market all based in the City of London. London is a major centre for international business and commerce and is the leader of the three "command centres" for the global economy (along with New York City and Tokyo). It has the largest concentration of foreign bank branches in the world. In the past decade, a rival financial centre in London has grown in the Docklands area, with HSBC and Barclays Bank relocating their head offices there. Many multinational companies that are not primarily UK-based have chosen to site their European or rest-of-world headquarters in London: an example is the US financial services firm Citigroup. The Scottish capital, Edinburgh, has one of the large financial centres of Europe and is the headquarters of the Royal Bank of Scotland Group, one of the world's largest banks.
Tourism is very important to the British economy. With over 27 million tourists arriving in 2004, the United Kingdom is ranked as the sixth major tourist destination in the world. London, by a considerable margin, is the most visited city in the world with 15.6 million visitors in 2006, ahead of 2nd placed Bangkok (10.4 million visitors) and 3rd placed Paris (9.7 million).
The creative industries accounted for 7% GVA in 2005 and grew at an average of 6% per annum between 1997 and 2005.
The United Kingdom's agriculture sector accounts for only 0.9% of the country's GDP.
North Sea oil and gas supply most of the UK's energy needs.The UK has a small coal reserve along with significant, yet continuously declining natural gas and oil reserves. Over 400 million tonnes of proven coal reserves have been identified in the UK. In 2004, total UK coal consumption (including imports) was 61 million tonnes,allowing the UK to be self sufficient in coal for just over 6.5 years, although at present extraction rates it would take 20 years to mine. An alternative to coal-fired electricity generation is underground coal gasification (UCG). UGC involves injecting steam and oxygen down a borehole, which extracts gas from the coal and draws the mixture to the surface - a potentially very low carbon method of exploiting coal. Identified onshore areas that have the potential for UGC amount to between 7 billion tonnes and 16 billion tonnes. Based on current UK coal consumption, these volumes represent reserves that could last the UK between 200 and 400 years.
Government involvement throughout the economy is exercised by the Chancellor of the Exchequer (currently Alistair Darling) who heads HM Treasury, but the Prime Minister (currently The Rt Hon Gordon Brown MP), is First Lord of the Treasury; the Chancellor of the Exchequer is the Second Lord of the Treasury. In recent years, the UK economy has been managed in accordance with principles of market liberalisation and low taxation and regulation. Since 1997, the Bank of England's Monetary Policy Committee, headed by the Governor of the Bank of England, has been responsible for setting interest rates at the level necessary to achieve the overall inflation target for the economy that is set by the Chancellor each year.The Scottish Government, subject to the approval of the Scottish Parliament, has the power to vary the basic rate of income tax payable in Scotland by plus or minus 3 pence in the pound, though this power has not yet been exercised.
As of 2007, the UK's government debt was 44% of GDP.
The currency of the UK is the pound sterling, represented by the symbol £. The Bank of England is the central bank, responsible for issuing currency. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover the issue. The UK chose not to join the euro at the currency's launch, and the British Prime Minister, The Rt Hon Gordon Brown MP, has ruled out membership for the foreseeable future, saying that the decision not to join had been right for Britain and for Europe. The government of former Prime Minister Tony Blair had pledged to hold a public referendum for deciding membership should "five economic tests" be met. In 2005, more than half (55%) of the UK were against adopting the currency, while 30% were in favour.
-Arvind
Roll No - 9
CITY LONDON
INTRO
------------
London is the capital and largest urban area of both England and the United Kingdom An important settlement for two millennia, London's history goes back to its founding by the Romans. Since its settlement, London has been part of many movements and phenomena throughout history, including the English Renaissance, the Industrial Revolution, and the Gothic Revival. The city's core, the ancient City of London, still retains its limited medieval boundaries; but since at least the 19th century the name "London" has also referred to the whole metropolis that has developed around it. Today the bulk of this conurbation forms the London region of England and the Greater London administrative area, with its own elected mayor and assembly.
London is one of the world's leading business, financial and cultural centres, and its influence in politics, education, entertainment, media, fashion and the arts contribute to its status as a major global city. London boasts four World Heritage Sites: the Palace of Westminster, Westminster Abbey and St. Margaret's Church; the Tower of London; the historic settlement of Greenwich; and the Royal Botanic Gardens, Kew. The city is a major tourist destination both for domestic and overseas visitors.
London's population draws from a wide range of peoples, cultures, and religions, and over 300 languages are spoken within the city. As of 2006, it had an official population of 7,512,400 within the boundaries of Greater London and is the most populous municipality in the European Union. As of 2001, the Greater London Urban Area had a population of 8,278,251 and the metropolitan area is estimated to have a total population of between 12 and 14 million.
US International Business
The population of the United States is 300 million people of mixed races and heritage. Although the population is predominantly of European descent, the country has been a welcoming beacon to immigrants from virtually every country and culture in the world. English is the predominant language, although languages from many foreign countries are spoken within cultural enclaves throughout the U.S. The majority of American's (U.S.) are Christian.
The United States of America consists of 50 states governed on a federal level, as well as a state level. Laws are written at both levels, and when doing business in the United States one must make sure to meet the requirements mandated by these laws. The country is very litigious so legal resources are available and specialists can be found to assist with any transaction.
The culture and geographic location of an area will influence how business is done. Traditionally, the East Coast is more conservative and formal in their dress and manners than the West Coast. That is not to say a West Coast meeting carries any less importance. The climate and lifestyle are just more relaxed, which is reflected in the pace and informality.
www.trade.gov .. site for International Trade Administration under Deptt of Commerce helps US Businesses by prmotoing Trade and Investment, strengthening industry competitiviveness and ensuring free trade. On its website (http://trade.gov/faq.asp) are detailed broad guidelines on basic rules and guidelines to trade in USA.
www.export.gov .. is the US Govt's export portal that advices exporters on details of exporting from US to other countries. The site provides concise and clear information about legal issues, financing, paper work requirements etc related to exporting goods.
WHEN IN US ... take care of ur
Appearance source: http://www.cyborlink.com/besite/us.htm
-> Business suit and tie are appropriate in all major cities. Wear dark colored business suits in classic colors of gray and
navy. For an important formal meeting, choose a white dress shirt, for less formal a light blue shirt will still give you a
conservative appearance.
-> Women should wear a suit or dress with jacket in major cities. Wearing classic clothing and classic colors of navy, gray,
ivory, and white will ensure you give a confident and conservative appearance.
-> Rural areas and areas with extremely warm summers have more informal wardrobe requirements.
-> Women may wear a business dress, or skirt and blouse, in rural areas.
-> Men may conduct business without wearing a jacket and/or tie in rural areas.
-> The formality of a meeting, even in rural areas, may dictate a sports jacket and tie for men. The same formality will
require a woman to wear a dress, possibly with a jacket.
-> Casual clothing is appropriate when not attending a work related meeting/dinner. Building a casual wardrobe using classic
lines and colors (navy, gray, camel, ivory and white) will give you a look that is stylish and professional even when you are
relaxing.
-> Clothing, whether formal or casual, should be clean and neat in appearance.
-> Men may generally wear jeans or khaki pants with a shirt for casual attire.
-> Women may wear comfortably fitting slacks with a casual shirt. Wearing jeans or shorts, even in a casual setting, may be
inappropriate for the city. It is better to err on the conservative side if you are not sure.
Behavior source: http://www.cyborlink.com/besite/us.htm
-> Business conversation may take place during meals. However, many times you will find more social conversation taking place
during the actual meal.
-> Business meetings may be arranged as breakfast meetings, luncheon meetings, or dinner meetings depending on time schedules
and necessity. Generally a dinner, even though for business purposes, is treated as a social meal and a time to build
rapport.
-> Gift giving is discouraged or limited by many US companies. A gracious written note is always appropriate and acceptable.
-> If you do give a gift, it should not appear to be a bribe.
-> An invitation for a meal or a modest gift is usually acceptable.
-> If you are someplace with a line or queue, go to the end and wait your turn.
-> Do not use or chew on a toothpick in public.
-> Many public places and private homes do not allow smoking. In some areas laws have been passed to prevent smoking in
public places.
Communications source: http://www.cyborlink.com/besite/us.htm
-> Offer a firm handshake, lasting 3-5 seconds, upon greeting and leaving. Maintain good eye contact during your handshake.
If you are meeting several people at once, maintain eye contact with the person you are shaking hands with, until you are
moving on the next person.
-> Good eye contact during business and social conversations shows interest, sincerity and confidence.
-> Good friends may briefly embrace, although the larger the city, usually the more formal the behavior.
-> Introductions include one's title if appropriate, or Mr., Ms, Mrs. and the full name.
-> Business cards are generally exchanged during introductions. However, they may be exchanged when one party is leaving.
-> A smile is a sign of friendliness, and in rural areas you may be greeted with a "hello" rather than a handshake.
-> Ask permission to smoke before lighting a cigarette or cigar. Due to health concerns, you may or may not be given permission.
Table Manners source: http://www.ravenwerks.com/practices/etiquette.htm
These apply to the Americas and most of Europe. If you’re elsewhere, do some research beforehand.
The fork goes on the left. The spoon and knife go on the right. Food items go on the left, so your bread plate is on your left. Drinks, including coffee cups, should be on the right. When sitting at a banquet table, you may begin eating when two people to your left and right are served. If you haven't been served, but most of your table has, encourage others to start.
Reach only for items in front of you, ask that other items be passed by a neighbor. Offer to the left; pass to the right, although once things start being passed, go with the flow.
E-mail
-> Make the subject line specific. Think of the many messages you're received with the generic subject line, "Hi" or "Just for you."
-> Don’t forward messages with three pages of mail-to information before they get to the content. In the message you forward, delete the extraneous information such as all the "Memo to," subject, addresses, and date lines.
-> When replying to a question, copy only the question into your e-mail, then provide your response. You needn't hit reply automatically, but don't send a bare message that only reads, "Yes." It's too blunt and confuses the reader.
-> Address and sign your e-mails. Although this is included in the To and From sections, remember that you’re communicating with a person, not a computer.
-> DON'T TYPE IN ALL CAPS. IT'S TOO INTENSE, and you appear too lazy to type properly. This is still a written medium. Follow standard writing guidelines as a professional courtesy.
By:Anuj Dhingra, R.no-6,
Rahul Chauhan, R.no - 50
Melbourne (pronounced /ˈmelbən/) is the second most populous city in Australia, with a metropolitan area population of approximately 3.8 million (2007 estimate) and serves as the state capital of Victoria.[1] It is located at the mouth of the Yarra River and on the northern and eastern shorelines of Port Phillip on an area of land that formed part of the Wurundjeri and Boonwurrung nation's territories for around 40,000 years. The area was an important meeting place for clans and terriroties of the Kulin nation alliance as well as a vital food and water resource[3] that was managed sustainably until early European settlers cleared much of these resources, forcing both nation's people into neighbouring territories.[4][5][3]
Melbourne was founded by free settlers in 1835, 47 years after the first European settlement of Australia, as a pastoral settlement situated around the Yarra River.[6] Transformed rapidly into a major metropolis by the Victorian gold rush in the 1850s, 'Marvellous Melbourne' became Australia's largest and most important city by 1865 the second largest in the British Empire,[7] and the tenth largest in the world for a brief moment at the turn of the 20th century. Such rapid growth from nothing was unprecedented at the time. However, Melbourne's growth slowed after 1900 and it was overtaken by Sydney as the largest city in Australia during the early 20th century.[8]
Today, Melbourne is a major centre of commerce, industry and cultural activity. The city is referred to as Australia's 'sporting and cultural capital'[9] and it is home to many of the nation's most significant cultural and sporting events and institutions. It has been recognised as a gamma world city by the Loughborough University group's 1999 inventory.[10] Melbourne is notable for its mix of Victorian and contemporary architecture, its extensive tram network and Victorian parks and gardens, as well as its diverse, multicultural society.[11] Melbourne has hosted multiple international conferences and events, including the 1956 Summer Olympics and the 2006 Commonwealth Games. Politically, it was the location of the 1981 Commonwealth Heads of Government Meeting and the 2006 G20 summit.
Environment
Like many urban environments, Melbourne faces some significant environmental issues. Melbourne has one of the highest urban footprints in the world due to its low density housing, suburban sprawl, and car dependence due to minimal public transport outside of the inner city.[36] Much of the vegetation within the city are non-native species, most of European origin, and in many cases plays host to invasive species and noxious weeds.[37] Significant introduced urban pests include the Common Myna,[38] Rock Pigeon,[39] Common Starling, Brown Rat, European Wasp,[40] and Red Fox. Many outlying suburbs, particularly those in the Yarra Valley and the hills to the north-east and east, have gone for extended periods without regenerative fires leading to a lack of saplings and undergrowth in urbanised native bushland, the Department of Sustainability and Environment partially addresses this problem by regularly burning off.[41][42] National parks nearby to the urban area include the Mornington Peninsula National Park, Port Phillip Heads Marine National Park and Point Nepean National Park in the south east, Organ Pipes National Park to the north and Dandenong Ranges National Park to the east. There are also a number of significant state parks just outside Melbourne.[43]
Responsibility for regulating pollution falls under the jurisdiction of the EPA Victoria and several local councils. Air pollution, by world standards, is classified as being good, however summer and autumn are the worst times of year for atmospheric haze in the urban area.[44][45]
The biggest current environmental issue facing Melbourne is the Victorian government project to deepen the channel to Melbourne Ports by dredging Port Phillip Bay. It is subject to controversy and strict regulations among fears that beaches and marine wildlife could be affected by the disturbance of heavy metals and other industrial sediments.[46][35] Other major pollution problems in Melbourne include levels of bacteria including E-coli in the Yarra River and its tributaries caused by septic systems,[47] as well as up to 350,000 cigarette butts entering the storm water runoff every day.[48] Several programs are being implemented to minimise beach and river pollution.[49][35]
Economy
Darker green indicate areas of higher household incomes. Suburbs immediately east of the centre tend to be more affluent
The Hoddle Grid, Melbourne's original Central Business District
Southbank. One of the adjacent urban renewal where the expansion of Melbourne's CBD has recently overflowed.Melbourne is home to Australia's busiest seaport and much of Australia's automotive industry, which include Ford and Toyota manufacturing facilities, and the engine manufacturing facility of Holden. It is home to many other manufacturing industries, along with being a major business and financial centre.[91] In 1981, the city hosted the Commonwealth Heads of Government Meeting[92] and in mid-November 2006, the city was host to the G20 summit,[93] amid violent protests. International freight is an important industry. The city's port, Australia's largest, handles more than $75 billion in trade every year and 39% of the nation's container trade.[94][95][70]
Melbourne is also a major technology hub, with an ICT industry that employs over 60,000 people (one third of Australia's ICT workforce), has a turnover of $19.8 billion and export revenues of $615 million.
Melbourne retains a significant presence of being a financial centre for Asia-Pacific. Two of the big four banks, NAB and ANZ, are headquartered in Melbourne. The city has carved out a niche as Australia’s leading centre for superannuation (pension) funds, with 40% of the total, and 65% of industry super-funds. Melbourne is also home to the $40 billion-dollar Federal Government Future Fund, and could potentially be home to the world's largest company should the proposed merger between BHP Billiton and Rio Tinto Group be carried out.[96]
Tourism plays an important role in Melbourne's economy, with approximately 7.6 million domestic visitors and 1.88 million international visitors in 2004.[97] In 2008, Melbourne overtook Sydney as the nation's leading tourism destination.[98]
The city is headquarters for many of Australia's largest corporations, including five of the ten largest in the country (based on revenue)[99] (ANZ, BHP Billiton, the National Australia Bank, Rio Tinto and Telstra); as well as such representative bodies and thinktanks as the Business Council of Australia and the Australian Council of Trade Unions.
Melbourne rated 34th within the top 50 financial cities as surveyed by the Mastercard Worldwide Centers of Commerce Index (2007),[100] between Barcelona and Geneva, and second only to Sydney (14th) in Australia.
Most recent major infrastructure projects, such as the redevelopment of Southern Cross Station (formerly Spencer Street Station),[101] have been centred around the 2006 Commonwealth Games, which were held in the city from 15 March to 26 March 2006. The centrepiece of the Commonwealth Games projects was the redevelopment of the Melbourne Cricket Ground, the stadium used for the opening and closing ceremonies of the Games. The project involved rebuilding the northern half of the stadium and laying a temporary athletics track at a cost of $434 million.[102]
Melbourne has also been attracting an increasing share of domestic and international conference markets. Construction began in February 2006 of a $1 billion 5000-seat international convention centre, Hilton Hotel and commercial precinct adjacent to the Melbourne Exhibition and Convention Centre to link development along the Yarra River with the Southbank precinct and multi-billion dollar Docklands redevelopment.[103]
Governance
John So, current Lord Mayor of MelbourneThe Melbourne City Council governs the City of Melbourne, which takes in the CBD and a few adjoining inner suburbs. However the head of the Melbourne City Council, the Lord Mayor of Melbourne, is frequently treated as a representative of greater Melbourne (the entire metropolitan area),[134] particularly when interstate or overseas. The Lord Mayor is John So, who was crowned the 2006 World Mayor.[135]
The rest of the metropolitan area is divided into 30 local government areas. All these are designated as Cities, except for five on the city's outer fringes which have the title of Shire. The local government authorities have elected councils and are responsible for a range of functions (delegated to them from the State Government of Victoria under the Local Government Act of 1989[136]), such as urban planning and waste management.
Most city-wide government activities are controlled by the Victorian state government, which governs from Parliament House in Spring Street. These include public transport, main roads, traffic control, policing, education above preschool level, and planning of major infrastructure projects. Because three quarters of Victoria's population lives in Melbourne, state governments have traditionally been reluctant to allow the development of citywide governmental bodies, which would tend to rival the state government. The semi-autonomous Melbourne and Metropolitan Board of Works was abolished in 1992 for this reason.[137] This is not dissimilar to other Australian states where State Governments have similar powers in greater metropolitan areas.
Tarun Girdhar
Emp Oct 2007
Roll no : 69
UK Weather:
The UK's weather is strongly influenced by the sea which surrounds the British Isles (Britain and Ireland). The sea warms up and cools down more slowly than land, keeping winters relatively warm but also making the summers cooler. Britain also benefits from a warm sea current called the Gulf Stream which originates in the Gulf of Mexico - this keeps the sea on the west side of Britain warmer (frosts are rare in these areas).
The graph below shows average daily maximum and minimum temperatures in London each month of the year. Remember that each of these monthly figures are averages (on any particular day the maximum and minimum will usually be within +/- 5°C of these values). If you compare these figures with similar statistics for your own country you will get a good idea about the kind of differences to expect.
Temperatures are cooler as you move further north or nearer to the coast (in Edinburgh average temperatures are on average 2°C below those in London) or as you move to higher land. For every 500 feet (150 metres) of altitute the average temperature falls by about 1°C.
You may be wise to bring something warm to wear in the evenings even during the summer months. Very hot days (over 30°C) are not common, so air conditioning is not as widespread as in warmer countries. If it is very hot when you are in the UK you may find it uncomfortable on underground trains or buses, and may want to carry some water with you.
During the winter people will often wear several different layers of clothing. This allows them to keep warm when walking outside, but to remain comfortable when inside a heated building. Most buildings use central heating during the winter, although the heating may only be on for a short time each morning/evening in some private homes (to save heating costs).
DAYLIGHT HOURS
Days can seem very short during the winter. In London in late December the sunrise time is after 8am and sunset is before 4pm, so it is only light for about 8 hours. The day is even shorter further north - at the same time of year in Edinburgh it is light for 7 hours and in the Shetland Islands (off the north coast of Scotland) for just 6 hours.
The opposite effect is experienced in summer. In mid-June it is getting light in London as early as 4:30am (if you are a light sleeper you may be woken by the light or by the sound of the birds). Sunset is not until nearly 9:30pm, so it is light for 17 hours of the day. The day is even longer further north - in Edinburgh it is light for 18 hours and in the Shetland Islands for 19 hours.
Early in the morning on the last Sunday in March watches and clocks are put forward by 1 hour as the country changes to British Summer Time (GMT+1). Visitors need to be careful because they may miss their flight or travel connections if they forget to make the change. Early in the morning on the last Sunday in October watches are put back by 1 hour as the country changes back to Greenwich Mean Time (GMT). If you forget this time you may arrive 1 hour too early for appointments.
RAIN & WIND
In the UK the most common winds (known as the prevailing winds) are from the west or south-west. These winds arrive in Britain after crossing the Atlantic Ocean, from which they pick up moisture. The air rises as it reaches higher ground, cools and falls as rain. The map below shows the location of hills and mountains. To the east of higher ground it is drier. Some of the wettest parts of the British Isles are south-west Ireland, Wales, the Lake District (in north-west England) and the western islands of Scotland (for example: Skye).
RAIN & WIND
In the UK the most common winds (known as the prevailing winds) are from the west or south-west. These winds arrive in Britain after crossing the Atlantic Ocean, from which they pick up moisture. The air rises as it reaches higher ground, cools and falls as rain. The map below shows the location of hills and mountains. To the east of higher ground it is drier. Some of the wettest parts of the British Isles are south-west Ireland, Wales, the Lake District (in north-west England) and the western islands of Scotland (for example: Skye).
Many people from overseas believe that it rains a lot in London, but in fact its rainfall is similar to that in other European capitals. Rainfall is evenly spread during the year, so even in summer a visitor is likely to experience some wet weather. In spring and autumn there are likely to be some heavy showers, often followed by sunshine. In winter the rain is usually lighter but may last for longer. In the summer if there are a few days of particularly hot weather these are often followed by a thunderstorm. It is because the weather can change very quickly that many British people carry an umbrella with them throughout the year, even when it appears to be a fine day.
Snow is not very common in London (expect snow to settle on the ground maybe two or three days during the year). It is more common away from the cities and coasts and in particular on higher land and further north. In the Scottish Highlands snow is common between December and February - this area has the only ski resort in the UK, at a place called Aviemore. Snow is most likely to fall when winds at this time of year come from the north (from the Arctic) or from the east (from Siberia).
Snow is not very common in London (expect snow to settle on the ground maybe two or three days during the year). It is more common away from the cities and coasts and in particular on higher land and further north. In the Scottish Highlands snow is common between December and February - this area has the only ski resort in the UK, at a place called Aviemore. Snow is most likely to fall when winds at this time of year come from the north (from the Arctic) or from the east (from Siberia).
Winds from the Atlantic can become strong, so gales can be quite common along the western coastlines, especially in the north. The area in East Anglia (around Cambridge or Norwich) can become windy, because the land is very flat. Coastal areas can also be quite windy at any time of year (the temperature difference between the sea and the land causes sea breezes). Extreme weather conditions such as hurricanes are rare. UK weather forecasts show average wind speeds (in miles per hour), but when there are strong winds there may be gusts of more than twice this speed.
The movie Body of Lies is recommended, good study in cultural contrast:
- the American aggression vs the Middle East sensitivity to context and to long term stability
- the scene of restrain on handshake
- the American-Jordanian stand-off
- the sense one canot make as larger themes are operative
Ashish Sharma
EMP Oct 2007
Roll No 11
Country:: Bangladesh
Citi: Dhaka
Comapny: Banglalink
please visit:
http://www.consumerpsychologist.com/international_marketing.html
Company Name: General Electrical
Country Name: China
According to the IMF list of 2007, Bangladesh ranked as the 48th largest economy in the world. Although one of the world's poorest and most densely populated countries, Bangladesh has made major strides to meet the food needs of its increasing population, through increased domestic production augmented by imports. The land is devoted mainly to rice and jute cultivation, although wheat production has increased in recent years; the country is largely self-sufficient in rice production. Nonetheless, an estimated 10% to 15% of the population faces serious nutritional risk. Bangladesh's predominantly agricultural economy depends heavily on an erratic monsoonal cycle, with periodic flooding and drought.Although improving, infrastructure to support transportation, communications, and power supply is poorly developed. Bangladesh is limited in its reserves of coal and oil, and its industrial base is weak.[1] The country's main endowments include its vast human resource base, rich agricultural land, relatively abundant water, and substantial reserves of natural gas.[1]
Since independence in 1971, Bangladesh has received more than $30 billion in grant aid and loan commitments from foreign donors, about $15 billion of which has been disbursed.[1] Major donors include the World Bank, the Asian Development Bank, the UN Development Program, the United States, Japan, Saudi Arabia, and west European countries.[1] Bangladesh historically has run a large trade deficit, financed largely through aid receipts and remittances from workers overseas.[1] Foreign reserves dropped markedly in 2001 but stabilized in the $3 to $4 billion range (or about 3 months' import cover).[1] In January 2007, reserves stood at $3.74 billion, and they increased to $5.39 billion by January 2008, according to the Bank of Bangladesh, the central bank.[1]
My name is Kapil Kr Bhatia
07-EMP-October
Roll No - 32
My choice for 3C's are
Company = United Health Group
Country = Germany
City = Berlin
Country - Denmark
City - Copenhagen
Company - Novo Nordisk
Roll No - 02
EMP2 - OCT 07 - 48
PRACHI AGARWAL BHATIA
Country - France
City- Paris
Company - Hewlett Packard
Vivek Sharma, Roll # 75, EMP 2007-Oct.
Country - Japan
City - Tottori
Company - Hitachi Metals
Ankur Singh
R. No : 05
3 Cs- Europe/France/Carrefour
About Carrefour
Carrefour SA (Euronext: CA) (pronounced [karˈfur]) is a French international hypermarket chain, with a global network of outlets. It is the second largest retail group in the world in terms of revenue after Wal-Mart. Carrefour operates mainly in Europe, Brazil, Argentina, Dominican Republic and Colombia, but also has shops in North Africa and Asia. Carrefour means "junction" in French.
Some must visit sites from IB perspective :
1. Thomas Friedman
http://www.thomaslfriedman.com/
http://www.thomaslfriedman.com/ny-times-articles
2. Paul Krugman
http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/paulkrugman/index.html
3. Excellent Source for Country Briefings
http://www.economist.com/countries/
Happy reading !!
Korean business etiquette (Do's and Don'ts)
• DO maintain an element of modesty and humility as these aspects are extremely important in Korean culture. With this in mind, you must try to avoid over-selling previous business achievements.
• DO make direct eye-contact when addressing Korean business professionals, as it is important to indicate your honesty and interest. However, some Koreans do not make
• eye-contact for any length of time when in the presence of an authority figure as a sign of respect.
• DO refrain from being overly impatient. The decision making process in Korea is often done collectively and will therefore require more time.
• DON’T address a Korea by his or her given name as it is considered extremely impolite Korean names begin with the family name and are followed by a two-part given name. The correct way to address a Korean is with Mr, Mrs, or Miss together with their family name. You should address your Korean counterparts using appropriate titles until specifically invited to do otherwise.
• DON’T display criticism in public. It should be conducted in private where loss of face will be diminished. In a similar vein, opposing someone directly can also cause a Korean to lose face and should be avoided.
• DON’T use large hand gestures or facial expressions. Talking or laughing loudly is also considered impolite in Korean culture.
Korean Culture Quiz – true or false
1. The number 4 is considered to be unlucky in Korea. Therefore, one must never give a gift made up of 4 items.
2. When entering a group meeting in Korea, the senior member of your party should enter the room first, then the next highest ranking person and so on. Koreans will also be seated according to rank.
3. The colour red symbolises prosperity and happiness in Korea. Writing a person’s name in red ink means they will have success in the future.
4. Your Korean counterparts will prefer you to contact them directly and they appreciate you simply popping in to see them
5. When visiting a Korean family home it is vital to take off your shoes when first entering the house in order not to offend your host.
Cultural Quiz – Answers
1. True.
2. True.
3. False. Signing a contract or writing a person’s name in red ink is the worst thing you can do in Korea, since this indicates that the person is deceased.
4. False. It is important to have a formal introduction to any person or company with whom you want to do business with in Korea.
5. True.
ATISALAT IS COMING TO INDIA?
C.P.Sharma
Roll No. 15
EMP Oct. 07
I am opting for country "Kuwait" and company "National Mobile Telecom Company"Kuwait.
Scope for Mid-Term Exam:
- int blunders book objective questions
- this blog all postings
- chart
- basic data 1c1c1c
session focus:
integrated industry-wise movements:
Nov 2, 2008. 8-9-10: natural resources
11-12: engineering-automative & logistics/ trasnportation services
13-14: IT&ITES & Food and agri processing, retail
15-16: energy utilities-telecom & media-tourism
Singapore - A Foodies Delight
Known as one of the global food capitals, Singapore is legendary for the sheer diversity, richness, and creativity of its culinary scene. One of the main drivers behind the spurt in Singapore tourism is its popularity in terms of food. Some of the Singaporean dishes that have acquired a cult status are Bak kut teh, Nasi lemak, Satay, Hokkien mee, Laksa, and Rojak. Singapore food does not disappoint on the seafood front either. One can sample a mind-boggling array of dishes rustled up with oysters, squids, clams, crabs, stingrays, and almost every living aquatic creature! In terms of cuisine, Singapore offers Indian, Chinese, French, Thai, Spanish, Indonesian, and Italian, and Fusion food to its locals and the large number of tourists that visit Singapore each year.
Sunil Rathi
Emp_Oct_07
Roll No. 66
I have chosen "Canada" as the country of my specialization. City - "Toronto" and Company "Bell Canada"
Background of Canada ::
A land of vast distances and rich natural resources, Canada became a self-governing dominion in 1867 while retaining ties to the British crown. Economically and technologically the nation has developed in parallel with the US, its neighbor to the south across an unfortified border. Canada faces the political challenges of meeting public demands for quality improvements in health care and education services, as well as responding to separatist concerns in predominantly francophone Quebec.
Total Land Area :: 9,093,507 sq km
Population of Canada :: 33,212,696 (July 2008 est.)
Economy Overview ::
As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over the equitable distribution of federal funds to the Canadian provinces. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs 80% of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. During 2007, Canada enjoyed good economic growth, moderate inflation, and the lowest unemployment rate in more than three decades.
Bell Canada is Canada's leading Communications Company and ranks 224 on Forbes Global 2000 List.
Korean Culture – Key Concepts and Values
Kibun – The word Kibun has no literal translation in English, however, as a concept that permeates every facet of Korean life, it can be described in terms of pride, face, mood, or state of mind. In order to maintain a Korean’s sense of Kibun, particularly in a business context, one must show the proper respect and avoid causing loss of face. In a culture where social harmony is essential, the ability to identify another’s state of mind, often referred to as nunchi, is crucial to successful business ventures. For this reason, you must be aware of subtleties in communication, observing non-verbal and indirect cues that often suggest the true sense of what is being communicated.
Inhwa – Drawing from Confucian beliefs, the term inhwa signifies the Korean approach to harmony and is closely related to the name of the village “Inhwa”. As a collectivist society, consensus is an important element in promoting and maintaining harmony in Korea. To avoid disturbing inhwa, Koreans will often reply with a positive answer and show reluctance to give direct refusals. In Korean business culture this manifests itself in an innate sense of loyalty, employee obedience and courteous and formal behaviour.
Confucianism – Confucianism became a common philosophy in ancient Korea bringing about significant changes and exerting considerable influence on the Korean people. With its roots set deep in Korean culture, Confucianism continues to pervade the consciousness of many Koreans, shaping the Korean moral system, its national laws, and general way of life in Korea. The ubiquitous Confucian beliefs and values of contemporary Korean society highlight a plethora of social concerns, and include obligation towards others, respect for family, elders and authority, loyalty, honour, and filial piety.
Personal Relationships - In Korea, personal relations take precedence over business. In order to be successful, it is vital to establish good, personal relationships based on mutual trust and benefit. Korean business culture is firmly grounded in respectful rapport and in order to establish this, it is essential that you have the right introduction and approach the company through a mutual friend or acquaintance at the appropriate level. Koreans spend a significant amount of time developing and fostering personal contacts. Therefore, time should be allocated for this process, particularly during the first meeting, which is frequently used to simply establish rapport and build trust. Once good, solid relations have been recognised in Korea, continuous reinforcement and maintenance is vital.
Doing Business with Koreans
The changing face of Korea continues to evolve at an unprecedented pace in current Korean society. A country well known for its difficult history, Korea was liberated from Japanese occupation at the end of World War II, only to be faced with the Cold War struggle that divided the country into two separate states; the Southern democratic republic, and the Northern communist style government. In the years that followed the Korean War, South Korea experienced rapid economic development and has continued to prosper in today’s modern world economy, becoming the largest in Asia after Japan and China. The present-day increase in business opportunities in Korea only increases the importance of cultural knowledge for those wishing to enter into this modern day market.
Name Rajat Sharma
Roll No: 51
1C1C1C
COUNTRY: PAKISTAN
CITY: KARACHI
COMPANY: HAMDARD LABORATORIES (WAQF)
COUNTRY: PAKISTAN
Flag:
Motto: Ittehad, Tanzim, Yaqeen-e-Muhkam (Urdu) "Unity, Discipline and Faith"
Anthem: "Qaumi Tarana"
Capital : Islamabad 33°40′N 73°10′E33.667, 73.167
Largest city: Karachi
Official languages: Urdu
Recognised regional languages: Balochi, Pashto, Punjabi, Sindhi, Siraiki, English
Government: Semi-presidential federal democratic republic
President: Asif Ali Zardari
Prime MinisterYousaf Raza Gillani
Chairman of Senate; Muhammad Mian Soomro
Speaker of House: Fahmida Mirza
Chief JusticeAbdul Hameed Dogar
Formation:
Independence: from the British Empire
Declared: 14 August 1947
Islamic republic: 23 March 1956
Area:
Total; 803,940 km² (34th Rank) 340,403 sq mi
Water (%):3.1
Population:
2008 estimate: 172,800,000[2] (6th Rank)
1998 census: 132,352,279[3]
Density: 206/km² (53rd) 534/sq mi
GDP (PPP): 2007 estimate
Total: $410.295 billion
Per capita: $2,594
GDP (nominal): 2007 estimate
Total: $143.766 billion
Per capita: $908
Growth rate : 7%
Currency: Rupee (Rs.) (PKR)
Stock Exchange: Karachi Stock Exchange
Time zone: PST (UTC+5)
Summer (DST): PDT (UTC+6)
Internet TLD: .pk
Calling code: +92
National Animal: Markhor
The name Pakistan means Land of (the) Pure in Urdu and Persian. It was coined in 1934 as Pakistan by Choudhary Rahmat Ali, who published it in his pamphlet “Now or Never”.
Pakistan, officially the “Islamic Republic of Pakistan”, is a country located in South Asia, Southwest Asia, Middle East and converges with Central Asia and the Middle East. It has a 1,046 kilometre (650 mile) coastline along the Arabian Sea and Gulf of Oman in the south, and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. Tajikistan also lies adjacent to Pakistan but is separated by the narrow Wakhan Corridor.
The region forming modern Pakistan was home to the ancient Indus Valley Civilization and then, successively, recipient of ancient Vedic, Persian, Indo-Greek and Islamic cultures. The area has witnessed invasions and settlement by the Aryans, Persians, Greeks, Arabs, Turks, Afghans and the Mongols. It was a part of British Raj from 1858 to 1947, when the Pakistan Movement for a state for Muslims, led by Muhammad Ali Jinnah and the Muslim League resulted in the independence and creation of the state of Pakistan, that comprised the provinces of Sindh, North-West Frontier Province, West Punjab, Balochistan and East Bengal. With the adoption of its constitution in 1956, Pakistan became an Islamic republic. In 1971, a civil war in East Pakistan resulted in the independence of Bangladesh. Pakistan's history has been characterized by periods of economic growth, military rule and political instability.
Pakistan is the sixth most populous country in the world and has the second largest Muslim population in the world after Indonesia. The country is listed among the "Next Eleven" economies. Pakistan is a founding member of the Organization of the Islamic Conference, South Asian Association for Regional Cooperation, Developing 8 Countries and the Economic Cooperation Organization. It is also a member of the United Nations, Commonwealth of Nations, World Trade Organization, G33 developing countries, Group of 77 developing nations, major non-NATO ally of the United States and is a nuclear state.
Pakistan is an active member of the United Nations (UN) and the Organisation of the Islamic Conference (OIC), the latter of which Pakistan has used as a forum for Enlightened Moderation, a plan to promote a renaissance and enlightenment in the Muslim world. Pakistan is also a member of the major regional organisations of the South Asian Association for Regional Cooperation (SAARC) and the Economic Cooperation Organisation (ECO).
The structure of the Pakistani economy has changed from a mainly agricultural base to a strong service base. Agriculture now only accounts for roughly 20% of the GDP, while the service sector accounts for 53% of the GDP with wholesale and retail trade forming 30% of this sector.
CITY : KARACHI
Coordinates: 24°51′36″N 67°00′36″E24.86, 67.01
Province: Sindh
Municipal Committee: 1853
Municipal Corporation: 1933
Metropolitan Corporation: 1976
Area
Total: 3,527 km² (1,356 sq mi)
Population (2008)
Total: 12,461,423
Density: 3,533.2/km² (9,189.8/sq mi)
Area code(s): 021
Karachi is the largest city in Pakistan. It is locally known as the "City of Lights" for its liveliness. Karachi was founded as "Kolachi" by Baloch tribes from Balochistan and Makran who established a small fishing community in the area. Descendants of the original community still live in the area on the small island of Abdullah Goth, which is located near the Karachi Port. The original name "Kolachi" also survives in the name of a well-known Karachi locality named "Mai Kolachi."
In terms of metropolitan population, it is the twentieth largest city of the world, and is Pakistan's premier center of banking, industry, and trade. Karachi is also the home of Pakistan's largest corporations that are involved in entertainment, arts, fashion, advertising, publishing, software development, medical research. It also serves as a major hub of higher education in South Asia, and the wider Islamic World.
Karachi enjoys its prominent position, due to its geographical location on a bay, making it the financial capital of the country. It is one of the fastest growing cities of the South Asia. It was the original capital of Pakistan until the construction of Islamabad, and is the location of Karachi Port, one of the region's largest and busiest ports. The city's population has increased dramatically after the partition of British India forced hundreds of thousands of Urdu speaking "Mohajirs"(Refugees from India) to settle in the city. Since independence from Britain in 1947, the city's vibrant economy has attracted migrants from all over Pakistan, surrounding countries such as Iran, Tajikistan, Burma, Bangladesh, Afghanistan and further beyond.
It generates over 68% of the total national revenue (federal and provincial taxes, customs and surcharges), Although a larger part than this amount account for as indirect tax contribution. Karachi produces about 42 percent of value added in large scale manufacturing and 25% of the GDP of Pakistan. In February 2007, the World Bank identified Karachi as the most business-friendly city in Pakistan.
COMPANY: Hamdard Laboratories (Waqf) Pakistan
Founded: 1948
Industry: Health Care, Food
Hamdard Laboratories (Waqf) Pakistan is a famous pharmaceutical company in Pakistan. It was established in 1948 by Hakim Mohammed Said in Karachi, and became a waqf (non-profitable trust) in 1953. It is associated with Hamdard Foundation, Pakistan a charitable trust, through which it reinvests its profits into charitable activities.
Hakeem Hafiz Abdul Majeed established Hamdard Dawakhana at Delhi, India in 1906. The Dawakhana soon gained a high reputation throughout the city as the finest supplier of herbs and in 1920 acquired the status of one of the finest pharmacies.
Hamdard Laboratories is famous for several products that are household names in Pakistan today viz; Joshanda, Joshina, Safi, Sualin, Sharbat Faula, Suduri and Rooh Afza.
Malaysia
Capital Kuala Lumpur
Official languages Malay
Government Federal constitutional elective monarchy and Parliamentary democracy
Independence
- From the United Kingdom (Malaya only) 31 August 1957
- Federation (with Sabah, Sarawak and Singapore) 16 September 1963
Area
- Total 329,847 km² or 127,355 sq mi
- Water (%) 0.3
- consists of thirteen states and three federal territories
States (Negeri)
West (Peninsula) Malaysia Johor • Kedah • Kelantan • Melaka • Negeri Sembilan • Pahang • Penang • Perak • Perlis • Selangor • Terengganu
East Malaysia Sabah • Sarawak
Federal Territories (Wilayah Persekutuan)
West (Peninsula) Malaysia Kuala Lumpur • Putrajaya
East Malaysia Labuan
- The country is separated into two regions—Peninsular Malaysia and Malaysian Borneo—by the South China Sea
- Malaysia borders Thailand, Indonesia, Singapore, Brunei and the Philippines.
Population
- Sep 2008 estimate 27,730,000
- 2000 census 24,821,286
- Density 5 84/km² or 218/sq mi
GDP (PPP) 2007 estimate
- Total $359.271 billion
- Per capita $13,385
GDP (nominal) 2007 estimate
- Total $186.718 billion
- Per capita $6,956
Currency Ringgit (RM) (MYR)
Religion Islam
60.4% Islam
19.2% Buddhism
9.1% Christianity
6.3% Hinduism
2.6% Chinese
2.4% Animism, Folk religion, Sikhism and other faiths
Malaysia Key Economic Indicators
2007 2008f
Population 27.17 million 27.73 million
GDP RM503.06 billion RM534.52 billion
(US$157.48 billion) (US$167.32 billion)
GDP Growth 6.0% 6.0 - 6.5%
Per capita income RM22,345 RM23,864
(US$6,994) (US$7,470)
Inflation rate 2.0% -
Labour force 11.7 million 11.9 million
Unemployment 3.3% 3.3%
Total export (f.o.b.) RM617.23 billion RM659.14 billion
(US$193.22 billion) (US$206.34 billion)
Total import (c.i.f.) RM517.26 billion RM559.54 billion
(US$161.92 billion) (US$175.16 billion)
Major exports
Manufactured goods (electrical and electronic products, chemical and chemical products, machinery, appliances and parts, wood products, manufactures of metal as well as optical and scientific equipment)
Major imports
Intermediate goods (primary and processed food and beverages, primary and processed industrial supplies,primary and processed fuel lubricants, parts and accessories for transport equipment, parts and accessories of capital goods, and thermionic valves and tubes, ).
Educated workforce:
Malaysia offers investors a young, educated and productive workforce at very competitive costs. Malaysia's literacy rates are high and school leavers entering the job market have at least 11 years of basic education.
Malaysia offers investors a young, educated and productive workforce at costs competitive with other countries in Asia. Backed by the government's continued support of human resource development in all sectors, the quality of Malaysia's workforce is one of the best in the region. Literacy levels are high at more than 94% and school leavers entering the job market have at least 11 years of basic education.
In addition Malaysia registered a significant 4.2% productivity growth in 2007, ranking third after China and India. The growth which was the highest since 2001, has translated to a rise in the productivity of the Malaysian economic.
High Priority on Education
Education and training are accorded high priority in national development under Malaysia's five-year development plans.
Todate, there are more than 17 public and 20 private universities and colleges, as well as various polytechnics and industrial training institutes that offer courses leading to certificate, diploma, degree and post-graduate degree qualifications. Total enrolment in public institutions of higher learning alone is projected to reach over 300,000 with more than half in the science and technical disciplines.
The private sector has also set up educational institutions to supplement the government's efforts to generate a larger pool of professionals and semi-professionals. Among these are institutions of higher learning set up by large corporations such as Telekom Malaysia Berhad, Tenaga Nasional Berhad and Petronas which provide degree-level courses. Various private colleges in Malaysia offer degree programmes on a twinning basis with overseas institutions of higher learning, while foreign universities have set up branch campuses in the country.
Industrial Training
In 1993, the Human Resource Development Fund (HRDF) was launched by the government to encourage training, retraining and skills upgrading in the private sector. Employers, in the manufacturing and service sectors who contribute to this fund are eligible to apply for grants to defray or subsidise the costs incurred in training and retraining their workforce.
The Department of Skills Development (DSD) formerly known as the National Vocational Training Council under the Ministry of Human Resources coordinates the setting up of all public and private training institution, evaluates the demand for existing and future skills, identifies future vocational and industrial training needs and will continue to develop standard under the National Occupational Skills Standards (NOSS). To-date, there are more than 700 certified standards which covers certificate, diploma and advanced diploma qualifications.
Besides the increasing number of public training institutions such as technical schools, polytechnics, industrial training institutes and skills development centres to meet the growing requirements of the industrial sector, collaborative efforts between the Malaysian government, enterprises and foreign governments have resulted in the establishment of several advanced skills training institutes such as the German-Malaysian Institute, Malaysia France Institute, Japan Malaysia Technical Institute, British Malaysia Institute and Malaysian Spanish Institute.
Harmonious Industrial Relations
Industrial relations in the country are harmonious with minimal trade disputes that result in strikes. Malaysia's labour laws safeguard the interests and spell out the rights and responsibilities of employers and employees, thus providing a legal framework for the orderly conduct of industrial relations in the country.
Taxation in Malaysia:
Generally, all income of companies and individuals accrued in or derived from sources outside Malaysia and received in Malaysia is liable to tax. However, income remitted to Malaysia by resident companies (other than companies carrying on the business of banking, insurance, air and sea transportation), non-resident companies and non-resident individuals are exempted from tax. From the year 2000, income tax in Malaysia is assessed on income earned in the current year. The assessment system will be changed to a self-assessment system in stages starting 2001.
Effective from the year of assessment 2004, income remitted to Malaysia by a resident individual is exempted from tax.
Company Tax
Resident and non-resident companies 26%
Resident companies with paid-up capital of RM2.5 million (US$754,375) and less at the beginning of the basis period for a year of assesment
- on the first RM500,000 (US$150,875) chargeable income 20%
- on subsequent chargeable income 26%
Petroleum Income Tax
A person who signed Petroleum Agreement with Petronas or Malaysia-Thailand Authority and carry out petroleum operation.
"Person" includes a company, a partnership or other body of person and corporate sole.
"Petroleum operations" means searching for, winning or obtaining of petroleum in Malaysia (by drilling, mining, extracting etc), all operations incidental thereto and sale or disposal of petroleum so won or obtained, transportation within Malaysia of petroleum so won or obtained to any point of sale or export but excludes transportation outside Malaysia; refining or liquefing; dealing with products so refined or liquefied; service involving the supply and used of rigs, derricks, ocean tankers and barges. 38%
Personal Income Tax
Resident individuals with chargeable income of RM16,667(US$5,029) and above per annum (after deduction of personal reliefs) 1% - 28%
Non-resident individuals (not entitled to any personal reliefs 28%
Note: * Effective from the year of assessment 2009:
Resident individuals will be taxed between 1% - 27%
Non-resident individuals will be taxed at 27%
Withholding Tax
Non-resident persons
• Special classes of income (use of moveable property, technical services, installation services on the supply of plant and machinery, etc.) 10%
• Interest 15%
• Royalty 10%
•
Contract payment on:
- account of contractor 10%
- account of employee 3%
Sales Tax
Sales tax is imposed on certain imported and locally manufactured goods under the Sales Tax Act 1972. The tax rate ranges from 5 - 10% for majority of the goods except for food preparations other than alcoholic and non-alcoholic compound preparations (other than those of heading No. 33.02) used for making beverages which falls under the tariff code 2106.90.490 with a tax rate of 20%.
Sales tax is also imposed on petroleum and petroleum products according to specific rates.
5% - 10%
Service Tax
Service tax is imposed on taxable services provided by taxable persons. Services include services provided by professionals (such as lawyers, engineers, architects, surveyors, consultants), advertising firms, private hospitals, insurance companies, communication companies, hotels and restaurants.
5%
Excise Duty
Excise duty is levied on imported and locally manufactured goods under the Excise Act 1976. The goods are listed under the Excise Duties Order 2004. Goods include:
Goods Duty Rate
Motorcars - 75% - 105%
4Wheel drives - 60% - 105%
Motor cycle - 20% - 30%
Intoxicating liquor- RM0.10 + 15% - RM42.50 + 15% per litre
Cigarettes - RM0.15 per stick +20%
Rates of Capital Allowances
Capital allowances are given on qualifying capital expenditure. Initial allowances are given only once while annual allowances are given every year by the straightline method. Some of the items accorded allowances are shown below. For plant and machinery, companies are advised to verify with the Inland Revenue Board on the specific items which qualify.
Initial Allowances
Industrial buildings 10%
Computer and IT equipment 20%
Environmental control equipment 40%
Heavy machinery & motor vehicles 20%
Plant and machinery 20%
Others 20%
Annual Allowances
Industrial buildings 3%
Computer and IT equipment 40%
Environmental control equipment 20%
Plant and machinery
- Motor vehicles, heavy machinery 20%
- Plant and machinery 14%
- Others 10%
I would be working on Verint systems, Herzliya.
The company office is in Herzliya Pituach, a neighborhood of Herzliya and the epicenter of Israel's tech industry--otherwise known as the Silicon Coast.
Thanks and Regards,
Mohit Jairath
mob : +91 98183 75383
"every second counts" - lance armstrong
Russia Geography
Location: Northern Asia (that part west of the Urals is sometimes included with Europe), bordering the Arctic Ocean, between Europe and the North Pacific Ocean
Geographic coordinates: 60 00 N, 100 00 E
Map references: Asia
Area:
total: 17,075,200 sq km
land: 16,995,800 sq km
water: 79,400 sq km
Area—comparative: slightly less than 1.8 times the size of the US
Land boundaries:
total: 19,917 km
border countries: Azerbaijan 284 km, Belarus 959 km, China (southeast) 3,605 km, China (south) 40 km, Estonia 294 km, Finland 1,313 km, Georgia 723 km, Kazakhstan 6,846 km, North Korea 19 km, Latvia 217 km, Lithuania (Kaliningrad Oblast) 227 km, Mongolia 3,441 km, Norway 167 km, Poland (Kaliningrad Oblast) 206 km, Ukraine 1,576 km
Coastline: 37,653 km
Maritime claims:
continental shelf: 200-m depth or to the depth of exploitation
exclusive economic zone: 200 nm
territorial sea: 12 nm
Climate: ranges from steppes in the south through humid continental in much of European Russia; subarctic in Siberia to tundra climate in the polar north; winters vary from cool along Black Sea coast to frigid in Siberia; summers vary from warm in the steppes to cool along Arctic coast
Terrain: broad plain with low hills west of Urals; vast coniferous forest and tundra in Siberia; uplands and mountains along southern border regions
Elevation extremes:
lowest point: Caspian Sea -28 m
highest point: Mount El'brus 5,633 m
Natural resources: wide natural resource base including major deposits of oil, natural gas, coal, and many strategic minerals, timber
note: formidable obstacles of climate, terrain, and distance hinder exploitation of natural resources
Land use:
arable land: 8%
permanent crops: 0%
permanent pastures: 4%
forests and woodland: 46%
other: 42% (1993 est.)
Irrigated land: 40,000 sq km (1993 est.)
Natural hazards: permafrost over much of Siberia is a major impediment to development; volcanic activity in the Kuril Islands; volcanoes and earthquakes on the Kamchatka Peninsula
Environment—current issues: air pollution from heavy industry, emissions of coal-fired electric plants, and transportation in major cities; industrial, municipal, and agricultural pollution of inland waterways and sea coasts; deforestation; soil erosion; soil contamination from improper application of agricultural chemicals; scattered areas of sometimes intense radioactive contamination
Environment—international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Sulphur 85, Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Wetlands, Whaling
signed, but not ratified: Air Pollution-Sulphur 94, Climate Change-Kyoto Protocol
Geography—note: largest country in the world in terms of area but unfavorably located in relation to major sea lanes of the world; despite its size, much of the country lacks proper soils and climates (either too cold or too dry) for agriculture
Foreign Relations and military
Japan maintains close economic and military relations with its key ally the United States, with the U.S.-Japan security alliance serving as the cornerstone of its foreign policy. A member state of the United Nations since 1956, Japan has served as a non-permanent Security Council member for a total of 18 years, most recently in 2005–2006. It is also one of the G4 nations seeking permanent membership in the Security Council. As a member of the G8, the APEC, the "ASEAN Plus Three" and a participant in the East Asia Summit, Japan actively participates in international affairs. It is also the world's third largest donor of official development assistance after the United States and United Kingdom, donating US$8.86 billion in 2004. Japan contributed non-combatant troops to the Iraq War but subsequently withdrew its forces from Iraq.
Japan is engaged in several territorial disputes with its neighbors: with Russia over the South Kuril Islands, with South Korea over the Liancourt Rocks, with the People's Republic of China and Taiwan over the Senkaku Islands, and with the PRC over the EEZ around Okinotorishima.
Japan also faces an ongoing dispute with North Korea over its abduction of Japanese citizens and its nuclear weapons and missile program (see also Six-party talks). As a result of the Kuril Islands dispute, Japan is technically still at war with Russia since no treaty resolving the issue was ever signed
Japan's military is restricted by the Article 9 of the Japanese Constitution, which renounces Japan's right to declare war or use military force as a means of settling international disputes. Japan's military is governed by the Ministry of Defense, and primarily consists of the Japan Ground Self-Defense Force (JGSDF), the Japan Maritime Self-Defense Force (JMSDF) and the Japan Air Self-Defense Force (JASDF). The forces have been recently used in peacekeeping operations and the deployment of Japanese troops to Iraq marked the first overseas use of its military since World War II.
Russia Facts:
=============
Capital: Moscow (population 10,126,424)
Language: Russian and 27 others
Currency: Ruble (RUB)
Government: Federal semi-presidential republic
President: Dmitry Medvedev (Ind.)
Prime Minister: Vladimir Putin (UR)
Chairman of the Federation Council: Sergey Mironov (FR)
Chairman of the State Duma: Boris Gryzlov (UR)
Founded: (862) Novgorodians invited prince Rurik to keep law and order, thus giving birth to the Rurik dynasty that ruled over all Russian lands throughout more than 700 years
Area
Total 17,075,400 km² (1st)
6,592,800 sq miles
Water (%) 13 %
Population
2008 estimate 142,008,838 (9th)
2002 census 145,166,731
Density 8.3/km² (209th)
21.5/sq m
GDP (PPP) 2007 estimate
Total $2,089 trillion[5] (7th)
Per capita $14,704[5] (52nd)
GDP (nominal) 2007 estimate
Total $1,289 trillion (11th)
Per capita $9,074 (54th)
Time zone (UTC+2 to +12)
Summer (DST) (UTC+3 to +13)
Internet TLD: .ru (.su reserved), (.рф2 2009)
calling code: +7
*****************
Russian Economic History:
========================
For about 60 years, the Russian economy and that of the rest of the Soviet Union operated on the basis of a centrally planned economy, viz. state control over virtually all means of production and over investment, production, and consumption decisions throughout the economy. Economic policy was made according to directives from the Communist Party, which controlled all aspects of economic activity. The central planning system left a number of legacies with which the Russian economy must deal in its transition to a market economy.
Two fundamental and interdependent goals — macroeconomic stabilization and economic restructuring — the transition from central planning to a market-based economy. The former entailed implementing fiscal and monetary policies that promote economic growth in an environment of stable prices and exchange rates. The latter required establishing the commercial, legal, and institutional entities — banks, private property, and commercial legal codes— that permit the economy to operate efficiently. Opening domestic markets to foreign trade and investment, thus linking the economy with the rest of the world, was an important aid in reaching these goals. The Gorbachev regime failed to address these fundamental goals. At the time of the Soviet Union's demise, the Yeltsin government of the Russian Republic had begun to attack the problems of macroeconomic stabilization and economic restructuring. By mid-1996, the results were mixed.
Since the collapse of the Soviet Union in 1991, Russia has tried to develop a market economy and achieve consistent economic growth. In October 1991, Yeltsin announced that Russia would proceed with radical, market-oriented reform along the lines of "shock therapy", as recommended by the United States and IMF. However, this policy resulted in economic collapse, with millions being plunged into poverty and corruption and crime spreading rapidly. Hyperinflation resulted from the removal of Soviet price controls and again following the 1998 Russian financial crisis. Assuming the role as the continuing legal personality of the Soviet Union, Russia took up the responsibility for settling the USSR's external debts, even though its population made up just half of the population of the USSR at the time of its dissolution. When once all enterprises belonged to the state and were supposed to be equally owned amongst all citizens, they fell into the hands of a few, who became immensely rich. Stocks of the state-owned enterprises were issued, and these new publicly traded companies were quickly handed to the members of Nomenklatura or known criminal bosses. For example, the director of a factory during the Soviet regime would often become the owner of the same enterprise. During the same period, violent criminal groups often took over state enterprises, clearing the way by assassinations or extortion. Corruption of government officials became an everyday rule of life. Under the government's cover, outrageous financial manipulations were performed that enriched the narrow group of individuals at key positions of the business and government mafia. Many took billions in cash and assets outside of the country in an enormous capital flight.
Company: MMC Norilsk Nickel, Moscow, Russia.
Public company
Founded 30th june 1993
HeadQuatered Moscow
The company is listed on NASDAQ and the RTS Stock Exchange.
Industry: Mining, Metallurgy
Products: Nickel, Palladium, Copper, Platinum, Gold, Cobalt,
Selenium, Tellurium, Rhodium, Silver, Iridium, Ruthenium, Coal
Revenue: US $17 bn (2007)
Profit: US $5bn (2007)
MMC stands for "Mining and Metallurgical Company".
MMC Norilsk Nickel is a nickel and palladium mining and smelting operator in the Norilsk–Talnakh area, in northern Russia. Norilsk is headquartered in Moscow and is also active in gold, platinum, copper and cobalt. The company is the world's leading producer of nickel and palladium and is Russia's leading gold producer. It is ranked among the top four world platinum producers, in association with subsidiary Stillwater Mining Company of Billings, Montana and Denver, Colorado. It is ranked among the top ten copper producers.
July 6, 2007 Norilsk Nickel announced it has acquired about 90 per cent of Canada's LionOre Mining International Ltd. LionOre is the world's 10th-largest nickel producer. This takeover (valued in $6.4 billion US) is the biggest acquisition by a Russian company abroad so far. It makes Norilsk Nickel the world's largest nickel producer.
=============
History
=============
Mining began in the Norilsk area in the 1920s. The government of the USSR created the "Norilsk Combine" in 1935 and passed control to the NKVD at that time. Mining and metal production continued first with Gulag forced labour, later with much volunteer labour, owing to the comparatively good wages offered. In 1993 after the fall of the Soviet Union a joint-stock company was created: RAO Norilsk Nickel.
Starting in 2002, MMC Norilsk Nickel began purchasing gold mining assets, which were spun off in 2005 as Polyus Gold, now a sister company. In 2003, the company took control of Stillwater Mining Company, the only US producer of palladium. Stillwater operates a platinum group metals (PGM) facility in Stillwater, Montana in the USA.
Shilpa Malhotra
Emp-OCT-07
Roll No - 64
Company - Hughes Network Systems,
Country - USA,
City - Maryland
P Ragul
Roll No. - 43
EMP Oct 07 Batch
I am chosing Japan -> Hamamatsu -> Suzuki motor corporation
RBS
-------------
A heroic deleveraging exercise awaits Stephen Hester, chief executive designate of Royal Bank of Scotland. Tangible equity was just 1.08 per cent of assets at the end of 2007, implying gearing of an astonishing 93 times, according to Dresdner Kleinwort.
Taking into account the equity that will have been raised this year, this should fall to about 43 times by the year’s end. Factor in the latest £20bn infusion and the group’s core tier one capital ratio, on a pro forma basis at September 30, would be 7.9 per cent and its tier one ratio 11.6 per cent. On this basis, RBS will soon be one of the best capitalised banks in Europe.
EDITOR’S CHOICE
In depth: UK banks - Nov-03RBS chief blames predecessors for bail-out - Nov-04Economic slowdown eats into RBS trade - Nov-04Shadow of the state falls less darkly - Nov-04Profile: Stephen Hester - Oct-13Lloyds distances itself from government.
=======================
Sandeep Goel
no-60
OCT 2007
=======================
Some More details for France
Geography France
Location:
metropolitan France: Western Europe, bordering the Bay of Biscay and English Channel, between Belgium and Spain, southeast of the UK; bordering the Mediterranean Sea, between Italy and Spain
French Guiana: Northern South America, bordering the North Atlantic Ocean, between Brazil and Suriname
Guadeloupe: Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, southeast of Puerto Rico
Martinique: Caribbean, island between the Caribbean Sea and North Atlantic Ocean, north of Trinidad and Tobago
Reunion: Southern Africa, island in the Indian Ocean, east of Madagascar
Geographic coordinates:
metropolitan France: 46 00 N, 2 00 E
French Guiana: 4 00 N, 53 00 W
Guadeloupe: 16 15 N, 61 35 W
Martinique: 14 40 N, 61 00 W
Reunion: 21 06 S, 55 36 E
Map references:
metropolitan France: Europe
French Guiana: South America
Guadeloupe: Central America and the Caribbean
Martinique: Central America and the Caribbean
Reunion: World
Area:
total: 643,427 sq km; 547,030 sq km (metropolitan France)
land: 640,053 sq km; 545,630 sq km (metropolitan France)
water: 3,374 sq km; 1,400 sq km (metropolitan France)
note: the first numbers include the overseas regions of French Guiana, Guadeloupe, Martinique, and Reunion
Area - comparative:
slightly less than the size of Texas
Land boundaries:
metropolitan France - total: 2,889 km
border countries: Andorra 56.6 km, Belgium 620 km, Germany 451 km, Italy 488 km, Luxembourg 73 km, Monaco 4.4 km, Spain 623 km, Switzerland 573 km
French Guiana - total: 1,183 km
border countries: Brazil 673 km, Suriname 510 km
Coastline:
total: 4,668 km
metropolitan France: 3,427 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm (does not apply to the Mediterranean)
continental shelf: 200-m depth or to the depth of exploitation
Climate:
metropolitan France: generally cool winters and mild summers, but mild winters and hot summers along the Mediterranean; occasional strong, cold, dry, north-to-northwesterly wind known as mistral
French Guiana: tropical; hot, humid; little seasonal temperature variation
Guadeloupe and Martinique: subtropical tempered by trade winds; moderately high humidity; rainy season (June to October); vulnerable to devastating cyclones (hurricanes) every eight years on average
Reunion: tropical, but temperature moderates with elevation; cool and dry (May to November), hot and rainy (November to April)
Terrain:
metropolitan France: mostly flat plains or gently rolling hills in north and west; remainder is mountainous, especially Pyrenees in south, Alps in east
French Guiana: low-lying coastal plains rising to hills and small mountains
Guadeloupe: Basse-Terre is volcanic in origin with interior mountains; Grande-Terre is low limestone formation; most of the seven other islands are volcanic in origin
Martinique: mountainous with indented coastline; dormant volcano
Reunion: mostly rugged and mountainous; fertile lowlands along coast
Elevation extremes:
lowest point: Rhone River delta -2 m
highest point: Mont Blanc 4,807 m
Natural resources:
metropolitan France: coal, iron ore, bauxite, zinc, uranium, antimony, arsenic, potash, feldspar, fluorspar, gypsum, timber, fish
French Guiana: gold deposits, petroleum, kaolin, niobium, tantalum, clay
Land use:
arable land: 33.46%
permanent crops: 2.03%
other: 64.51%
note: French Guiana - arable land 0.13%, permanent crops 0.04%, other 99.83% (90% forest, 10% other); Guadeloupe - arable land 11.70%, permanent crops 2.92%, other 85.38%; Martinique - arable land 9.09%, permanent crops 10.0%, other 80.91%; Reunion - arable land 13.94%, permanent crops 1.59%, other 84.47% (2005)
Irrigated land:
total: 26,190 sq km;
metropolitan France: 26,000 sq km (2003)
Total renewable water resources:
189 cu km (2005)
Freshwater withdrawal (domestic/industrial/agricultural):
total: 33.16 cu km/yr (16%/74%/10%)
per capita: 548 cu m/yr (2000)
Natural hazards:
metropolitan France: flooding; avalanches; midwinter windstorms; drought; forest fires in south near the Mediterranean
overseas departments: hurricanes (cyclones), flooding, volcanic activity (Guadeloupe, Martinique, Reunion)
Environment - current issues:
some forest damage from acid rain; air pollution from industrial and vehicle emissions; water pollution from urban wastes, agricultural runoff
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Seals, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
largest West European nation
People France
Population:
total: 64,057,792
note: 62,150,775 in metropolitan France (July 2008 est.)
Age structure:
0-14 years: 18.6% (male 6,091,571/female 5,803,127)
15-64 years: 65.2% (male 20,884,919/female 20,849,988)
65 years and over: 16.3% (male 4,335,996/female 6,092,189) (2008 est.)
Median age:
total: 39.2 years
male: 37.7 years
female: 40.7 years (2008 est.)
Population growth rate:
0.574% (2008 est.)
Birth rate:
12.73 births/1,000 population (2008 est.)
Death rate:
8.48 deaths/1,000 population (2008 est.)
Net migration rate:
1.48 migrant(s)/1,000 population (2008 est.)
Sex ratio:
at birth: 1.05 male(s)/female
under 15 years: 1.05 male(s)/female
15-64 years: 1 male(s)/female
65 years and over: 0.71 male(s)/female
total population: 0.96 male(s)/female (2008 est.)
Infant mortality rate:
total: 3.36 deaths/1,000 live births
male: 3.69 deaths/1,000 live births
female: 3.02 deaths/1,000 live births (2008 est.)
Life expectancy at birth:
total population: 80.87 years
male: 77.68 years
female: 84.23 years (2008 est.)
Total fertility rate:
1.98 children born/woman (2008 est.)
HIV/AIDS - adult prevalence rate:
0.4% (2003 est.)
HIV/AIDS - people living with HIV/AIDS:
120,000 (2003 est.)
HIV/AIDS - deaths:
fewer than 1,000 (2003 est.)
Nationality:
noun: Frenchman(men), Frenchwoman(women)
adjective: French
Ethnic groups:
Celtic and Latin with Teutonic, Slavic, North African, Indochinese, Basque minorities
overseas departments: black, white, mulatto, East Indian, Chinese, Amerindian
Religions:
Roman Catholic 83%-88%, Protestant 2%, Jewish 1%, Muslim 5%-10%, unaffiliated 4%
overseas departments: Roman Catholic, Protestant, Hindu, Muslim, Buddhist, pagan
Languages:
French 100%, rapidly declining regional dialects and languages (Provencal, Breton, Alsatian, Corsican, Catalan, Basque, Flemish)
overseas departments: French, Creole patois
Literacy:
definition: age 15 and over can read and write
total population: 99%
male: 99%
female: 99% (2003 est.)
School life expectancy (primary to tertiary education):
total: 16 years
male: 16 years
female: 17 years (2006)
Education expenditures:
5.7% of GDP (2005)
Government
Country name:
conventional long form: French Republic
conventional short form: France
local long form: Republique francaise
local short form: France
Government type:
republic
Capital:
name: Paris
geographic coordinates: 48 52 N, 2 20 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
note: applies to metropolitan France only, not to its overseas departments, collectivities, or territories
Administrative divisions:
26 regions (regions, singular - region); Alsace, Aquitaine, Auvergne, Basse-Normandie (Lower Normandy), Bourgogne (Burgundy), Bretagne (Brittany), Centre, Champagne-Ardenne, Corse (Corsica), Franche-Comte, Guadeloupe, Guyane (French Guiana), Haute-Normandie (Upper Normandy), Ile-de-France, Languedoc-Roussillon, Limousin, Lorraine, Martinique, Midi-Pyrenees, Nord-Pas-de-Calais, Pays de la Loire, Picardie, Poitou-Charentes, Provence-Alpes-Cote d'Azur, Reunion, Rhone-Alpes
note: France is divided into 22 metropolitan regions (including the "territorial collectivity" of Corse or Corsica) and 4 overseas regions (including French Guiana, Guadeloupe, Martinique, and Reunion) and is subdivided into 96 metropolitan departments and 4 overseas departments (which are the same as the overseas regions)
Dependent areas:
Clipperton Island, French Polynesia, French Southern and Antarctic Lands, Mayotte, New Caledonia, Saint Barthelemy, Saint Martin, Wallis and Futuna
note: the US does not recognize claims to Antarctica; New Caledonia has been considered a "sui generis" collectivity of France since 1999, a unique status falling between that of an independent country and a French overseas department
Independence:
486 (Frankish tribes unified); 843 (Western Francia established from the division of the Carolingian Empire)
National holiday:
Fete de la Federation, 14 July (1790); note - although often incorrectly referred to as Bastille Day, the celebration actually commemorates the holiday held on the first anniversary of the storming of the Bastille (on 14 July 1789) and the establishment of a constitutional monarchy; other names for the holiday are Fete Nationale (National Holiday) and quatorze juillet (14th of July)
Constitution:
adopted by referendum 28 September 1958, effective 4 October 1958
note: amended concerning election of president in 1962; amended to comply with provisions of 1992 EC Maastricht Treaty, 1997 Amsterdam Treaty, 2003 Treaty of Nice; amended to tighten immigration laws in 1993; amended in 2000 to change the seven-year presidential term to a five-year term; amended in 2005 to make the EU constitutional treaty compatible with the Constitution of France and to ensure that the decision to ratify EU accession treaties would be made by referendum
Legal system:
civil law system with indigenous concepts; review of administrative but not legislative acts; has not accepted compulsory ICJ jurisdiction
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Nicolas SARKOZY (since 16 May 2007)
head of government: Prime Minister Francois FILLON (since 17 May 2007)
cabinet: Council of Ministers appointed by the president at the suggestion of the prime minister
elections: president elected by popular vote for a five-year term (changed from seven-year term in October 2000); election last held 22 April and 6 May 2007 (next to be held spring 2012); prime minister nominated by the National Assembly majority and appointed by the president
election results: Nicolas SARKOZY wins the election; First Round: percent of vote - Nicolas SARKOZY 31.18%, Segolene ROYAL 25.87%, Francois BAYROU 18.57%, Jean-Marie LE PEN 10.44%, others 13.94%; Second Round: SARKOZY 53.1% and ROYAL 46.9%
Legislative branch:
bicameral Parliament or Parlement consists of the Senate or Senat (331 seats, 305 for metropolitan France, 9 for overseas departments, 5 for dependencies, and 12 for French nationals abroad; members are indirectly elected by an electoral college to serve six-year terms; one third elected every three years); note - between 2006 and 2011, 15 new seats will be added to the Senate for a total of 348 seats - 326 for metropolitan France and overseas departments, 2 for New Caledonia, 2 for Mayotte, 1 for Saint-Pierre and Miquelon, 1 for Saint-Barthelemy, 1 for Saint-Martin, 3 for overseas territories, and 12 for French nationals abroad; starting in 2008, members will be indirectly elected by an electoral college to serve six-year terms, with one-half elected every three years; and the National Assembly or Assemblee Nationale (577 seats, 555 for metropolitan France, 15 for overseas departments, 7 for dependencies; members are elected by popular vote under a single-member majority system to serve five-year terms)
elections: Senate - last held 26 September 2004 (next to be held in September 2008); National Assembly - last held 10 and 17 June 2007 (next to be held in June 2012)
election results: Senate - percent of vote by party - NA; seats by party - UMP 156, PS 97, UDF (now MoDem) 33, PCF 23, RDSE 15, other 7; National Assembly - percent of vote by party - UMP 46.37%, PS 42.25%, miscellaneous left wing parties 2.47%, PCF 2.28%, NC 2.12%, PRG 1.65%, miscellaneous right wing parties 1.17%, the Greens 0.45, other 1.24%; seats by party - UMP 313, PS 186, NC 22, miscellaneous left wing parties 15, PCF 15, miscellaneous right wing parties 9, PRG 7, the Greens 4, other 6
Judicial branch:
Supreme Court of Appeals or Cour de Cassation (judges are appointed by the president from nominations of the High Council of the Judiciary); Constitutional Council or Conseil Constitutionnel (three members appointed by the president, three appointed by the president of the National Assembly, and three appointed by the president of the Senate); Council of State or Conseil d'Etat
Political parties and leaders:
Democratic Movement or MoDem [Francois BAYROU] (previously Union for French Democracy or UDF); Democratic and Social European Rally or RDSE [Pierre LAFFITTE] (mainly Radical Republican and Socialist Parties, and PRG); French Communist Party or PCF [Marie-George BUFFET]; Greens [Cecile DUFLOT]; Left Radical Party or PRG [Jean-Michel BAYLET] (previously Radical Socialist Party or PRS and the Left Radical Movement or MRG); Movement for France or MPF [Philippe DE VILLIERS]; National Front or FN [Jean-Marie LE PEN]; New Center or NC [Herve MORIN]; Rally for France or RPF [Charles PASQUA]; Republican and Citizen Movement or MRC [Jean Pierre CHEVENEMENT and Georges SARRE]; Socialist Party or PS [Francois HOLLANDE]; Union for a Popular Movement or UMP [Patrick DEVEDJIAN, Jean-Claude GAUDIN, Jean-Pierre RAFFARIN, Pierre MEHAIGNERIE]; Radical Party [Jean-Louis BORLOO]
Political pressure groups and leaders:
Confederation Francaise Democratique du Travail or CFDT, left-leaning labor union with approximately 803,000 members; Confederation Generale des Cadres or CGC, independent white-collar union with 196,000 members; Confederation Generale du Travail or CGT, historically communist labor union with approximately 700,000 members; Confederation Generale du Travail - Force Ouvriere or FO, independent labor union with an estimated 300,000 members; Mouvement des Entreprises de France or MEDEF, employers' union with 750,000 companies as members (claimed)
French Guiana: conservationists; gold mining pressure groups; hunting pressure groups
Guadeloupe: Christian Movement for the Liberation of Guadeloupe or KLPG; General Federation of Guadeloupe Workers or CGT-G; General Union of Guadeloupe Workers or UGTG; Movement for an Independent Guadeloupe or MPGI; The Socialist Renewal Movement
Martinique: Caribbean Revolutionary Alliance or ARC; Central Union for Martinique Workers or CSTM; Frantz Fanon Circle; League of Workers and Peasants; Proletarian Action Group or GAP
Reunion: NA
International organization participation:
ADB (nonregional members), AfDB (nonregional members), Arctic Council (observer), Australia Group, BDEAC, BIS, BSEC (observer), CBSS (observer), CE, CERN, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, FZ, G-5, G-7, G-8, G-10, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, InOC, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURCAT, MINURSO, MINUSTAH, NATO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, Paris Club, PCA, PIF (partner), Schengen Convention, SECI (observer), SPC, UN, UN Security Council, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, Union Latina, UNITAR, UNMEE, UNMIL, UNOCI, UNOMIG, UNRWA, UNTSO, UNWTO, UPU, WADB (nonregional), WCL, WCO, WEU, WFTU, WHO, WIPO, WMO, WTO, ZC
Flag description:
three equal vertical bands of blue (hoist side), white, and red; known as the "Le drapeau tricolore" (French Tricolor), the origin of the flag dates to 1790 and the French Revolution; the design and/or colors are similar to a number of other flags, including those of Belgium, Chad, Ireland, Cote d'Ivoire, Luxembourg, and Netherlands; the official flag for all French dependent areas
Economy France
Economy - overview:
France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. Widespread opposition to labor reform has in recent years hampered the government's ability to revitalize the economy. In 2007, the government launched divisive labor reform efforts that will continue into 2008. France's tax burden remains one of the highest in Europe (nearly 50% of GDP in 2005). France brought the budget deficit within the eurozone's 3%-of-GDP limit for the first time in 2007 and has reduced unemployment to roughly 8%. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism.
GDP (purchasing power parity):
$2.075 trillion (2007 est.)
GDP (official exchange rate):
$2.56 trillion (2007 est.)
GDP - real growth rate:
2.1% (2007 est.)
GDP - per capita (PPP):
$32,600 (2007 est.)
GDP - composition by sector:
agriculture: 2.2%
industry: 20.6%
services: 77.2% (2007 est.)
Labor force:
27.91 million (2007 est.)
Labor force - by occupation:
agriculture: 4.1%
industry: 24.4%
services: 71.5% (1999)
Unemployment rate:
7.9% (2007 est.)
Population below poverty line:
6.2% (2004)
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 24.8% (2004)
Distribution of family income - Gini index:
28 (2005)
Inflation rate (consumer prices):
1.5% (2007 est.)
Investment (gross fixed):
21.5% of GDP (2007 est.)
Budget:
revenues: $1.287 trillion
expenditures: $1.356 trillion (2007 est.)
Public debt:
63.9% of GDP (2007 est.)
Agriculture - products:
wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish
Industries:
machinery, chemicals, automobiles, metallurgy, aircraft, electronics; textiles, food processing; tourism
Industrial production growth rate:
1.8% (2007 est.)
Electricity - production:
543.6 billion kWh (2005)
Electricity - consumption:
451.5 billion kWh (2005)
Electricity - exports:
68.33 billion kWh (2005)
Electricity - imports:
8.035 billion kWh (2005)
Oil - production:
73,180 bbl/day (2005 est.)
Oil - consumption:
1.999 million bbl/day (2005 est.)
Oil - exports:
474,200 bbl/day (2005)
Oil - imports:
1.89 million bbl/day (2005)
Oil - proved reserves:
158.4 million bbl (1 January 2006 est.)
Natural gas - production:
1.4 billion cu m (2004 est.)
Natural gas - consumption:
47.26 billion cu m (2005 est.)
Natural gas - exports:
863.2 million cu m (2005 est.)
Natural gas - imports:
47.02 billion cu m (2005 est.)
Natural gas - proved reserves:
341 billion cu m (1 January 2006 est.)
Current account balance:
-$31.25 billion (2007 est.)
Exports:
$546 billion f.o.b. (2007 est.)
Exports - commodities:
machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages
Exports - partners:
Germany 14.9%, Spain 9.3%, Italy 8.9%, UK 8.1%, Belgium 7.3%, US 6.1%, Netherlands 4.1% (2007)
Imports:
$600.9 billion f.o.b. (2007 est.)
Imports - commodities:
machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Imports - partners:
Germany 18.9%, Belgium 11.4%, Italy 8.4%, Spain 7.1%, Netherlands 7%, UK 5.6%, US 4.4%, China 4% (2007)
Economic aid - donor:
ODA, $10.6 billion (2006)
Reserves of foreign exchange and gold:
$115.7 billion (2006 est.)
Debt - external:
$4.396 trillion (30 June 2007)
Stock of direct foreign investment - at home:
$942.3 billion (2007 est.)
Stock of direct foreign investment - abroad:
$1.307 trillion (2007 est.)
Market value of publicly traded shares:
$1.71 trillion (2005)
Currency (code):
euro (EUR)
Exchange rates:
euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year:
calendar year
Communications France
Telephones - main lines in use:
35.533 million; 34.8 million (metropolitan France) (2007)
Telephones - mobile cellular:
56.719 million; 55.358 million (metropolitan France) (2007)
Telephone system:
general assessment: highly developed
domestic: extensive cable and microwave radio relay; extensive introduction of fiber-optic cable; domestic satellite system
international: country code - 33; numerous submarine cables provide links throughout Europe, Asia, Australia, the Middle East, and US; satellite earth stations - more than 3 (2 Intelsat (with total of 5 antennas - 2 for Indian Ocean and 3 for Atlantic Ocean), NA Eutelsat, 1 Inmarsat - Atlantic Ocean region); HF radiotelephone communications with more than 20 countries
overseas departments: country codes: French Guiana - 594; Guadeloupe - 590; Martinique - 596; Reunion - 262
Radio broadcast stations:
AM 41, FM about 3,500 (this figure is an approximation and includes many repeaters), shortwave 2 (1998)
Television broadcast stations:
584 (plus 9,676 repeaters) (1995)
Internet country code:
metropolitan France - .fr; French Guiana - .gf; Guadeloupe - .gp; Martinique - .mq; Reunion - .re
Internet hosts:
12.556 million; 12,555,000 (metropolitan France) (2007)
Internet users:
31.295 million; 30.838 million (metropolitan France) (2007)
Transportation France
Airports:
476 (2007)
Airports - with paved runways:
total: 292
over 3,047 m: 14
2,438 to 3,047 m: 27
1,524 to 2,437 m: 97
914 to 1,523 m: 80
under 914 m: 74 (2007)
Airports - with unpaved runways:
total: 184
1,524 to 2,437 m: 4
914 to 1,523 m: 72
under 914 m: 108 (2007)
Heliports:
3 (2007)
Pipelines:
gas 14,665 km; oil 3,032 km; refined products 4,947 km (2007)
Railways:
total: 29,370 km
standard gauge: 29,203 km 1.435-m gauge (14,778 km electrified)
narrow gauge: 167 km 1.000-m gauge (2006)
Roadways:
total: 951,500 km
paved: 951,500 km (metropolitan France; includes 10,950 km of expressways)
note: there are another 5,100 km of roadways in overseas departments (2006)
Waterways:
metropolitan France: 8,500 km (1,686 km accessible to craft of 3,000 metric tons)
French Guiana: 3,760 km (460 km navigable by small oceangoing vessels and coastal and river steamers, 3,300 km by native craft) (2006)
Merchant marine:
total: 138
by type: bulk carrier 2, cargo 1, chemical tanker 32, container 25, liquefied gas 12, passenger 3, passenger/cargo 33, petroleum tanker 23, roll on/roll off 7
foreign-owned: 38 (Belgium 6, China 5, Denmark 2, Germany 1, Italy 2, Japan 1, NZ 1, Norway 5, Saudi Arabia 1, Singapore 2, Sweden 9, Switzerland 1, Switzerland 2)
registered in other countries: 127 (Antigua and Barbuda 1, Australia 1, Bahamas 30, Belgium 2, Bermuda 1, Hong Kong 1, Indonesia 1, Isle of Man 1, Italy 2, Liberia 5, Luxembourg 17, Malta 5, Morocco 14, Netherlands 1, Norway 3, Panama 5, Saint Vincent and the Grenadines 6, Singapore 1, Taiwan 1, UK 23, Wallis and Futuna 6) (2008)
Ports and terminals:
Bordeaux, Calais, Dunkerque, Le Havre, Marseille, Nantes, Paris, Rouen, Strasbourg
Military France
Military branches:
Army (Armee de Terre; includes Marines, Foreign Legion, Army Light Aviation), Navy (Marine Nationale, includes Naval Air), Air Force (Armee de l'Air, includes Air Defense), National Gendarmerie (2008)
Military service age and obligation:
17-40 years of age for male or female voluntary military service); no conscription; 12-month service obligation; women serve in noncombat military posts (2005)
Manpower available for military service:
males age 16-49: 14,646,427
females age 16-49: 14,379,630 (2008 est.)
Manpower fit for military service:
males age 16-49: 12,110,718
females age 16-49: 11,849,988 (2008 est.)
Manpower reaching militarily significant age annually:
male: 401,379
female: 382,409 (2008 est.)
Military expenditures:
2.6% of GDP (2005 est.)
Transnational Issues France
Disputes - international:
Madagascar claims the French territories of Bassas da India, Europa Island, Glorioso Islands, and Juan de Nova Island; Comoros claims Mayotte; Mauritius claims Tromelin Island; territorial dispute between Suriname and the French overseas department of French Guiana; France asserts a territorial claim in Antarctica (Adelie Land); France and Vanuatu claim Matthew and Hunter Islands, east of New Caledonia
Illicit drugs:
metropolitan France: transshipment point for South American cocaine, Southwest Asian heroin, and European synthetics
French Guiana: small amount of marijuana grown for local consumption; minor transshipment point to Europe
Martinique: transshipment point for cocaine and marijuana bound for the US and Europe
Saudi Arabia is the birthplace of Islam and home to Islam's two holiest shrines in Mecca and Medina. The king's official title is the Custodian of the Two Holy Mosques. The modern Saudi state was founded in 1932 by ABD AL-AZIZ bin Abd al-Rahman AL SAUD (Ibn Saud) after a 30-year campaign to unify most of the Arabian Peninsula. A male descendent of Ibn Saud, his son ABDALLAH bin Abd al-Aziz, rules the country today as required by the country's 1992 Basic Law. Following Iraq's invasion of Kuwait in 1990, Saudi Arabia accepted the Kuwaiti royal family and 400,000 refugees while allowing Western and Arab troops to deploy on its soil for the liberation of Kuwait the following year. The continuing presence of foreign troops on Saudi soil after the liberation of Kuwait became a source of tension between the royal family and the public until all operational US troops left the country in 2003. Major terrorist attacks in May and November 2003 spurred a strong on-going campaign against domestic terrorism and extremism. King ABDALLAH has continued the cautious reform program begun when he was crown prince. To promote increased political participation, the government held elections nationwide from February through April 2005 for half the members of 179 municipal councils. In December 2005, King ABDALLAH completed the process by appointing the remaining members of the advisory municipal councils. The country remains a leading producer of oil and natural gas and holds more than 20% of the world's proven oil reserves. The government continues to pursue economic reform and diversification, particularly since Saudi Arabia's accession to the WTO in December 2005, and promotes foreign investment in the kingdom. A burgeoning population, aquifer depletion, and an economy largely dependent on petroleum output and prices are all ongoing governmental concerns.
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses more than 20% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly 5.5 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors. High oil prices have boosted growth, government revenues, and Saudi ownership of foreign assets, while enabling Riyadh to pay down domestic debt. The government is encouraging private sector growth - especially in power generation, telecommunications, natural gas exploration, and petrochemicals - to lessen the kingdom's dependence on oil exports and to increase employment opportunities for the swelling Saudi population, nearly 40% of which are youths under 15 years old. Unemployment is high, and the large youth population generally lacks the education and technical skills the private sector needs. Riyadh has substantially boosted spending on job training and education, infrastructure development, and government salaries. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations. The government has announced plans to establish six "economic cities" in different regions of the country to promote development and diversification.
country switzerland
company swiss re
city munich
SWITZERLAND
Basic food items:
Food, ingredients and the way to prepare it varies greatly all over the country. Generally speaking, basic food items include a huge selection of bread (white, whole wheat etc.), dairy products such as milk, yogurt, butter and - of course - a great variety of the world famous Swiss cheese. Also important are vegetables including beans, carrots, cauliflower, potatoes, spinach etc. Sausages and meat - mainly veal, beef, pork, chicken or turkey - are served in many different ways: grilled, cooked, sliced or cut. Side dishes include French fries, rice, potatoes and different types of pasta. Fruits are available from all over the world, locally grown fruits include apples, pears, grapes and different types of berries, such as black berries, blueberries, raspberries, red currants and strawberries. Finally, there are a lot of sweets, including the second type of food that Switzerland is world famous for: Swiss chocolate.
What do people eat and drink:
In Switzerland, breakfast typically includes bread, butter or margarine, marmalade or honey, maybe some cheese or cereals, plus milk, cold or hot chocolate, tea or coffee.
Lunch may be as simple as a sandwich or a birchermüesli or it could be a complete meal.
Depending on what people had for lunch, dinner can be a full main course or just some bread, cheese, maybe some dried meat or any other light meal.
Drinks range from plain water, over different types of soft drinks including most internationally well known brands plus some local products, to a great variety of beers and wines. Hot drinks include many different flavors of tea and coffee.
Going out to eat:
There are many different places to go out to eat in Switzerland. It starts with fast food, such as burger, fish and chips etc., continues with self service restaurants and what people in the U.S. use to call a family restaurant where you get all the regular menus and ends with spectacular (and very expensive) restaurants, where to eat is supposed to be an "experience".
Food is quite expensive in Switzerland, at least compared to most European countries and especially compared to the U.S. If you go to a fast food place, you may easily spend up to CHF 10 for a burger, a soft drink and a coffee. In a family restaurant, a menu will cost somewhere between CHF 15 and 50, self service restaurants are somewhat less expensive. At a more fancy restaurant, one can spend as much as CHF 1000 just for a bottle of wine ...
Common menus include a great variety of pasta, potatoes prepared in many different ways, vegetables, meat (veal, beef, pork, chicken and even horse), fish (mainly fresh water fish), but also sea food. Vegetarian menus have become more popular during the last few years, most restaurants provide at least one vegetarian menu as a main course. In addition, salad is very popular as well. The most important part of course is desert. This includes cheese, but even more important any flavor of cakes or cookies.
Create the right ambience
Swiss people do not only love good food, they also appreciate a beautiful decorated table, like the table shown on the left, decorated for a Christmas dinner.
Fondue
This is probably the most famous swiss menu. Fondue is made out of molten cheese. We eat it by dipping small pieces of bread in the molten cheese. The secret lies in the right mixture of different flavors of cheese. Typically, fondue is served on cold winter days, but many restaurants serve it all your round
Salat (salad)
Salads have a long tradition in Switzerland and are served in many different flavors, either as a side order or as a full meal.
SUNIL SACHDEVA
RN 67
i choose country Turkey, Istabunul, H&M
Kanungo.Satyabrta Nayak
roll-30
I have chosen AkzoNobel, Denmark
Roll No 62
Arjun Yadav
Emp_OCT-2007
Roll number:08
I have picked up Melbourne, Australia. Company: Agilent Technologies.
The population is just over 21.3 million, with approximately 60% of the population concentrated in and around the mainland state capitals of Sydney, Melbourne, Brisbane, Perth, and Adelaide.
Australia's per capita GDP is slightly higher than that of the UK, Germany, and France in terms of purchasing power parity. The country was ranked third in the United Nations 2007 Human Development Index, first in the 2008 Prosperity Index, and sixth in The Economist worldwide Quality-of-Life Index for 2005.
Balance of Payment & GDP:
Australia has a balance of payments that is more than 7% of GDP negative, and has had persistently large current account deficits for more than 50 years.[45] Australia has grown at an average annual rate of 3.6% for over 15 years.
Melbourne:
The discovery of gold in Victoria in the 1850s led to the Victorian gold rush, and the rapid growth of the city, which provided most of service industries and served as the major port for the region.
Melbourne has the second largest Asian population in Australia, which includes the largest Vietnamese, Indian and Sri Lankan communities in the country
Agilent in Australia:
There are substantial R&D & Manufacturing operations in Melbourne. Most of the Research in Life sciences & Chemical Analysis for Agilent is done in Melbourne with one of the most advanced LAB infrastructure present there.
Autralian Laws & industry in & around Melbourne are also condusive to LSCA R&D.
Dear All
In view of market trends that by 2015, 5billion people on this world will be connected either through Mobile or Broadband. There is a need to enable connectivity and especially among the people of emerging markets who rate very low on connectivity scorecard. The Connectivity Scorecard is a pioneering global information and communications technology (ICT) index that measures the extent to which governments, businesses and consumers make use of connectivity technologies to enhance social and economic prosperity.
To enable this connectivity Nokia has pioneered the lead in bringing the web to emreging markets. Pls read this story
http://www.businessweek.com/globalbiz/content/nov2008/gb2008114_268373.htm?link_position=link4
Dear All
Pls read the link below about
"The World's Most Global Cities- A new study which compiles a list of the world's most global cities, weighing financial as well as cultural and political influence"
This shall help in understanding present strengths of Global Cites and also visualizing how the upcoming cites are shaping up. This shall definitely help you in planning your strategy so as to where next you shall setup your business venture.
http://www.businessweek.com/globalbiz/content/oct2008/gb20081029_679467.htm?link_position=link13
Rgds
Harish
Apoorve Roy
Roll No 07
I am opting for Taiwan , Taipei , American Express
Dear Sir
My Choices about 1C are as follows, however the same i have given to Harish Advani for updation in excel sheet
Country - South Africa
City - Johannesberg
Company - De Beers
Rgds
Neha
Name : Rajesh Nandal
Roll No. 53
Country : Sri Lanka
City: Peliyagoda
Company: Dilmah
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka (known as Ceylon before 1972) is an island nation in South Asia, located about 31 kilometres (19.3 mi) off the southern coast of India. It is home to around twenty million people.
Because of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia, and has been a center of Buddhist religion and culture from ancient times. Today, the country is a multi-religious and multi-ethnic nation, with more than a quarter of the population following faiths other than Buddhism, notably Hinduism, Christianity and Islam. The Sinhalese community forms the majority of the population, with Tamils, who are concentrated in the north and east of the island, forming the largest ethnic minority. Other communities include the Muslim Moors and Malays and the Burghers.
Famous for the production and export of tea, coffee, coconuts and rubber, Sri Lanka boasts a progressive and modern industrial economy and the highest per capita income in South Asia. The natural beauty of Sri Lanka's tropical forests, beaches and landscape, as well as its rich cultural heritage, make it a world famous tourist destination.
History
After over two thousand years of rule by local kingdoms, parts of Sri Lanka were colonized by Portugal and the Netherlands beginning in the 16th century, before the control of the entire country was ceded to the British Empire in 1815. During World War II, Sri Lanka served as an important base for Allied forces in the fight against the Japanese Empire.[5] A nationalist political movement arose in the country in the early 20th century with the aim of obtaining political independence, which was eventually granted by the British after peaceful negotiations in 1948.
Geography & Climate
The island of Sri Lanka lies in the Indian Ocean, to the southwest of the Bay of Bengal and to the southeast of the Arabian Sea. It is separated from the Indian subcontinent by the Gulf of Mannar and the Palk Strait.[13] According to Hindu mythology, a land bridge to the Indian mainland, known as Rama's Bridge, was constructed during the time of Rama by the vanara architect Nala. Often referred to as Adam's Bridge, it now amounts to only a chain of limestone shoals remaining above sea level.[13] According to colonial British reports, this is a natural causeway which was formerly complete, but was breached by a violent storm in 1480.[14] The width of the Palk Strait is small enough for the coast of Sri Lanka to be visible from the furthest point near the Indian town of Rameswaram.[citation needed] The tear drop shaped island consists mostly of flat-to-rolling coastal plains, with mountains rising only in the south-central part. Amongst these are Sri Pada (Adams Peak) and the highest point Pidurutalagala, at 2,524 meters (8,281 ft). The Mahaweli ganga (Mahaweli river) and other major rivers provide fresh water to the population.[15]
Sri Lanka's climate can be described as tropical, and quite hot. Its position between 5 and 10 north latitude endows the country with a warm climate, moderated by ocean winds and considerable moisture.[16]
The mean temperature ranges from a low of 16 °C (61 °F) in Nuwara Eliya in the Central Highlands (where frost may occur for several days in the winter) to a high of 32 °C (90 °F) in Trincomalee on the northeast coast (where temperatures may reach 38 °C (100 °F)). The average yearly temperature for the country as a whole ranges from 28° to 30 °C (82–86 °F). Day and night temperatures may vary by 4 to 7 °C (7–13 °F).
Government and politics
The Constitution of Sri Lanka establishes a democratic, socialist republic in Sri Lanka, which is also a unitary state. The government is a mixture of the presidential system and the parliamentary system. The President of Sri Lanka is the head of state, the commander in chief of the armed forces, as well as head of government, and is popularly elected for a six-year term. In the exercise of duties, the President is responsible to the Parliament of Sri Lanka, which is a unicameral 225-member legislature. The President appoints and heads a cabinet of ministers composed of elected members of parliament. The President's deputy is the Prime Minister, who leads the ruling party in parliament and shares many executive responsibilities, mainly in domestic affairs.[22]
Members of parliament are elected by universal (adult) suffrage based on a modified proportional representation system by district to a six-year term. The primary modification is that, the party that receives the largest number of valid votes in each constituency gains a unique "bonus seat." The president may summon, suspend, or end a legislative session and dissolve Parliament any time after it has served for one year. The parliament reserves the power to make all laws. On July 1, 1960 the people of Sri Lanka elected the first-ever female head of government in Prime Minister Sirimavo Bandaranaike. Her daughter Chandrika Kumaratunga served multiple terms as prime minister and as president from 1999 to 2005. The current president and prime minister, both of whom took office on November 21, 2005, are Mahinda Rajapaksa and Ratnasiri Wickremanayake respectively.
Sri Lanka has enjoyed democracy with universal suffrage since 1931. Politics in Sri Lanka are controlled by rival coalitions led by the left-wing Sri Lanka Freedom Party, headed by President Rajapaksa, the comparatively right-wing United National Party led by former prime minister Ranil Wickremesinghe and Marxist-Nationalist JVP. There are also many smaller Buddhist, socialist and Tamil nationalist political parties that oppose the separatism of the LTTE but demand regional autonomy and increased civil rights. Since 1948, Sri Lanka has been a member of the Commonwealth of Nations and the United Nations. It is also a member of the Non-Aligned Movement, the Colombo Plan, Asia-Pacific Economic Cooperation and the South Asian Association for Regional Cooperation. Through the Cold War-era, Sri Lanka followed a foreign policy of non-alignment but has remained closer to the United States and Western Europe. The military of Sri Lanka comprises the Sri Lankan Army, the Sri Lankan Navy and the Sri Lankan Air Force. These are administered by the Ministry of Defence. Since the 1980s, the army has led the government response against the Marxist militants of the JVP and now the LTTE militant forces. Sri Lanka receives considerable military assistance from Pakistan and China.[23]
Sri Lanka was considered one of the "world's most politically unstable countries" by the World Bank and Asian Development Bank in 2004.[24] The Economist labels Sri Lanka a "flawed democracy" in its 2006 rankings (ranking 57 and positioned among 54 other flawed ranked ones)[25] and Foreign Policy ranks Sri Lanka 25th (Alert Category) in its Failed States Index[26] for 2007. However, Sri Lanka, according to the US State Department in 2005, was classified a "stable democracy" amidst a ceasefire period of the long running civil war.[27]
Company: Dilmah
Dilmah is the product of a lifetime devoted to tea
Dilmah is a very special tea. Dilmah Founder - Merrill J. Fernando - set out in the 1950s to offer tea drinkers the finest tea on earth. Whilst doing so, he desired to make his a genuinely ethical brand. It took nearly four decades for Merrill to fulfil his mission, but in 1988 he launched his family tea - Dilmah - the first producer owned tea brand in the world, handpicked, perfected and packed at source and shipped within days to tea drinkers around the world.
Merrill devoted his life to tea. Together with his sons Dilhan and Malik, whose names make up the name Dilmah, Merrill leads an ethical family business which has changed the world of tea.
History of Ceylon Tea
Tea originated in China, as legend has it, 5,000 years ago with Chinese emperor Shen Nung claiming the health benefits of tea in 2737 BC. However it was Ceylon (now Sri Lanka) that made tea famous in the 19th and 20th Centuries.
Scotsman James Taylor is attributed to planting the first tea estate in Sri Lanka. It was in 1867 that Taylor planted 20 acres of tea on the Loolecondera estate (of which he was superintendent). It was here he perfected the technique of fine plucking - `two leaves and a bud.'
Ceylon tea became the front-runner of the industry and was much loved for its unmatched quality and variety. The alchemy of land, sun and rain in the Paradise Island of Ceylon, as it was known then, presented the ideal climatic conditions for cultivation of tea. Ceylon added a new dimension to tea by producing variations in taste, quality, character and appearance, largely based on terroir of the region. Ceylon tea with its distinct taste and character became every consumer's favourite cuppa.
However this changed when the Ceylon Tea industry was taken over by multinationals about 40 years ago. Their criteria for success changed from quality, authenticity and in some cases to freshness, to more commercial and profit oriented factors. They moved away from Ceylon tea to multi origin blends, a mixture of tea from several countries, to offer a cheaper product. Thus they commoditized tea and this led to a decline in demand for Ceylon tea - which was neither a commodity or cheap.
When Merrill J. Fernando embarked on his journey in tea, almost 58 years ago, he sought to bring quality tea,Ceylon tea, back to consumers. Choosing to remain faithful to Ceylon Tea, acknowledged the finest tea on earth, Dilmah introduced lovers of fine tea to the pioneering concept of tea 'picked, perfected and packed' at origin. Single Origin Tea.
There are three main tea growing regions in Sri Lanka. These are, Low grown teas which are teas grown on an elevation between sea level to 600m, Mid Grown teas which are from 600m to 1,200m and High grown teas which are grown at an elevation above 1,200m. The taste, flavour and aroma of teas from each region are influenced by the conditions particular to those regions. Low grown teas, which are subjected to long periods of sunshine, dry and somewhat warm and moist conditions, exhibit a burgundy brown liquor and a malt, heavy note with black leaf appearance. Whereas High grown teas grown on an elevation of around 3,000 feet would be dramatically different - depending on the time of year, influenced by the chill winds, dry and cool conditions these teas are likely to be extraordinarily light, with greenish, grassy tones in honey golden liquors.
City: Colombo District - Peliyagoda
Peliyagoda is a suburb of Colombo but very close to the City centre. It is outside the Colombo Municipality and is on the bank of Kelani river Peliyagoda is the first suburb you meet on the Colombo Kandy Road immediately after passing the Colombo City limits. Colombo and Peliyagoda is separated by Kelani River and the two are linked by New Kelani Bridge . ( Theold KelaniBridge liksPeliyagida to Grandpass of Combo.) Peliyagoda is surrounded by Kiribathgoda, Wattala and Colombo. Peliyagoda cannot be reached by train although the Railway passes through Peliyagoda. The closest Railway Station is Kelaniya Railway Station. The Kandy Road and Negombo Road enter Colombo through Peliyagoda. Apart from Colombo the closest Towns to Peliyagoda are Kelaniya and Wattala. . To the north of Peliyagodais a large mass of Marshes through which the proposed Express High Way to Katunayaka Airport and Negombo is due to pass through. Peliyagoda was best known for the leading centre for Buddhist Education called ?Vidyalankara Pirivena? which has attracted Buddhist Scholars from all over the world. It still remains one of the two leading centers for educating Buddhist monks.
Latitude: 6.9581 Longitude: 79.8878 Altitude (feet): 16
In Global Oil scenario some incidents are important.These incidents are responsible for current scenario in Global Market.
These steps can be divided in time frames.
1.1947-1959
Western recognition of the need to assert control over world oil stocks
Proposals from International Co-operative Alliance, USA, to place Middle East oil under UN control, 1947/1948
50/50 tax legislation introduced between Saudi Arabia and ARAMCO, 1951
Boycott of oil supplies to Israel 1953
50/50 tax legislation Kuwait, 1954
Proposal for a 75/25 system of tax legislation, 1955
Venezuelan response to the First Arab Oil Experts Congress, 1957
First Arab League Petroleum Congress, Cairo, 1959
2.1960-1963
Oil company plans to cut posted prices, 1960
Middle East support for the alternative plans outlined by Peres Alfonso, Venezuelan Minister of Mines, 1960
The creation of OPEC, 1960. Founder members: Iran; Iraq; Kuwait; Saudi Arabia; Venezuela
Resolutions from the 1st , 2nd and 3rd conferences
Qatar becomes an full member of OPEC, 1961
Arab Economic League Council’s proposals for an Arab tanker fleet and pipeline, 1961
Iraq’s demands to increase control of petroleum operations and finances, 1961
OPEC interest in Russian Oil policy, 1961
Iraq/Kuwait dispute, 1961
Reactions in Qatar to the 4th Conference resolutions
OPEC calls for negotiations on oil prices based on posted prices and for long term price policy, on royalty payments and on marketing expenses, 1962
Indonesia and Libya become full members of OPEC, 1962
Negotiations between Iran and the Consortium, and Saudi Arabia and ARAMCO, 1962
Oil companies accept the principle of OPEC, and Mr Rouhani in particular, negotiating on behalf of member states, 1963
Venezuela and OPEC begin to have diverging aims, 1963
3.1963-1966
OPEC negotiates with oil companies on behalf of Iran, 1963
British liaison with US State Dept over oil company terms, 1963
Mr Rouhani to represent Saudi Arabia with ARAMCO and Libya with Esso, 1963
Iran and Saudi Arabia agree to Consortium offer ahead of OPEC conference, Beirut 1963
OPEC rejects Consortium offer at Beirut conference
Iraq and Venezuela hold opposing position to Iran, early 1964
Iran’s position within OPEC and the view of the Shah, 1964
ARAMCO negotiations with Saudi Arabia, 1964
Saudi Arabia and Iran liaise on oil company negotiations, 1964
Issue of expensing royalties dominates the 6th Conference, 1964
Commitment by all member states to progressing Resolution IV.32 - on posted prices
Oil companies concede on the Arbitration Clause, January 1965
OPEC moves from Geneva to Vienna, 1965
Resolution IX.61: possible introduction of a planned production programme to limit price falls, 1965
Saudi Arabian comment on the revision of the royalty and expensing payment systems, 1966
4.1967-1971
Western opinions regarding the political aspects of the Sixth Arab Petroleum Congress, March 1967
United Arab Emirates become an full member of OPEC, 1967
OPEC having only moderate influence on production programming in Saudi Arabia, 1967
Impact of the Six-Day War: the Arab oil boycott, 1967
UK and US concerns about oil supply, 1967
ARAMCO offer to Saudi Arabia on royalty expensing and the elimination of discounts in return for the reopening of Tapline and the Suez Canal, 1967
The Second International Symposium on Energy, Rome 1968: OPEC statement reporting oil companies agreement to phase out the royalty-expensing allowances between 1967 and 1974
OPEC interest in European energy markets, 1968
Creation of the Organization of Arab Petroleum Exporting Countries, 1968, with statement of the aims of OAPEC by Shaikh Zaki Yamani
Meeting of the Representatives of the National Oil Companies of OPEC member countries, 1968
Views held by Shaikh Zaki Yamani as the spokesman for OAPEC, 1968
Libyan moves upon the OPEC Conservation Law, (Petroleum Regulation 8), 1968
Global oil problems: disruption to Middle East oil supplies; slow down in off-take; world oil prices, 1969
Algeria becomes an full member of OPEC, 1969
Revolution in Libya and the new regime, 1969
The potential impact on US oil interests of their political policy in the Middle East, 1969
Implementation and enforcement of Petroleum Conservation regulation No. 8 by Libya, 1969
Libya negotiates successfully with the oil companies, with particular reference to posted prices, 1970
OPEC support for the Algerian Government, 1970
Iran, Iraq, Kuwait, Libya and Saudi Arabia create an Inter-ministerial Committee on the implementation of the principle of participation, 1970
Co-ordination of a joint approach by consumer-countries to negotiations with OPEC, 1970
Major oil companies set about creating a joint oil company organisation, 1971
Nigeria becomes an full member of OPEC, 1971
Two ‘factions’ emerge within OPEC: the Gulf producers; and the Mediterranean group, 1971
Oil companies’ strategy for negotiations with both groups: proposals to be presented simultaneously at Tehran and Tripoli, 1971
5.1971-1972
The Tehran Agreement, 1971 relating to the Gulf countries of Abu Dhabi, Iran, Iraq, Kuwait, Qatar and Saudi Arabia
Implications of the Tehran agreement for the Mediterranean group, 1971
OPEC expresses concerns about the devaluation of the dollar, 1971
British government takes opposite view to oil companies regarding conceding the principle of participation, 1971
The Three Nation Committee intend to negotiate on behalf of the Gulf producers in seeking both host-country participation in existing concessions and an offset in real income to compensate for the current monetary crisis and the weak dollar, 1971
Governments and oil companies agree to act jointly in negotiations with OPEC and agree to reactivation of the London Policy Group, 1971
UK fears a threat to oil supplies, Libya seizes £294,000 from ESSO, 1971
Libya nationalises BP, 1971
OECD reviews its relationship with OPEC, 1971
Agreement reached on dollar parity, 1971
Further negotiations on participation at Geneva, 1972
6.1972-1973
The principle of participation examined further by the British Government, 1972
ARAMCO/Saudi Arabia and the Consortium/Iran participation negotiations break down, 1972
Saudi Arabian attitudes harden as US major oil companies use hostile tactics, 1972
Iran moves towards greater involvement in oil production independently of OPEC, 1972
ARAMCO reports its concession of the principle of 20% participation to the London Policy Group, 1972
Kuwait Oil Company agrees to 20 % participation, 1972
British government anxious to avoid disruption of supply, 1972
Iraq nationalises IPC, 1972
Algeria associates the nationalisation of the oil company with the battle of the Palestinian people and urges other Arab countries to acquire sovereignty of their oil reserves, 1972
OPEC passes a resolution supporting Iraq, 1972
Saudi Arabia/ARAMCO negotiations stall on the issue of compensation, 1972
Agreement reached in Iran, 1972
Agreement reached in Saudi Arabia: updated book value is accepted in return for security of supply, 1972
Kuwaiti concerns over the timetable for 51% participation because of fears over depletion of reserves and the issue of buy-back oil, 1972
Negotiations on participation continue in Libya, 1972
Saudi Arabia and Abu Dhabi secure agreements on participation, 1972
Kuwait and Qatar sign the participation agreement, 1973
Iran and Iraq reach agreement with the Consortium, IPC and NIOC, 1973
OPEC discusses economic growth and dollar devaluation, 1973
Consumer countries propose an anti-OPEC coalition, 1973
The Geneva Agreement on currency parity changes is renegotiated, 1973
The transformation of the Arab position by their ability to use oil for political purposes, 1973
Code of practice on pollution to be drawn up, 1973
The negotiations in Vienna, October 1973, signal the final complete transfer of control over the price system into the hands of the producers
OPEC secures a 70% increase in the posted prices, 1973
OAPEC uses the ‘oil weapon’ to support Egypt and Syria in their war against Israel, 1973
Embargoes on the USA and the Netherlands, 1973
Shaikh Ahmed Yamani and Belaid Abdesselam visit oil importing countries to explain the policy objectives of the Arab oil restrictions, 1973
OPEC seeks to create a pricing policy, 1973
OPEC approves a dramatic increase in the price of Arabian crude, December 1973, for the start of the New Year
Economy of Saudi Arabia :
Saudi Arabia has an oil-breaded economy with strong butter that controls over major economic activities. Saudi Arabia possesses 25% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. Economic overview
The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly five and a half million foreign workers play an important role in the Saudi economy, for example, in the oil and service sectors. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. The government has begun to permit private sector and foreign investor participation in the power generation and telecom sectors. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in 2005 after many years of negotiations. With high oil revenues enabling the government to post large budget surpluses, Riyadh has been able to substantially boost spending on job training and education, infrastructure development, and government salaries.
Macro-economic trend :
Current GDP per capita of Saudi Arabia soared by a world record-breaking 1,858% in the Seventies riding on the back of the global oil boom. However, this bubble was unsustainable and consequently the GDP per capita shrank by 58% in the Eighties. However successful diversification efforts helped register a growth of 20% in the Nineties.
For purchasing power parity comparisons, the US Dollar is exchanged at 3.41 Saudi Arabian Riyals only. Average wages in 2007 hover around $76-92 per day.
Oil Industry :
Oil was discovered in Saudi Arabia by U.S. geologists in the 1930s, although largescale production did not begin until after World War II. Oil wealth has made possible rapid economic development, which began in earnest in the 1960s and accelerated spectacularly in the 1970s, transforming the kingdom.
Saudi oil reserves are the largest in the world, and Saudi Arabia is the world's leading oil producer and exporter. Oil accounts for more than 90% of the country's exports and nearly 75% of government revenues. Proven reserves are estimated to be 260 billion barrels (41 km³), about one-quarter of world oil reserves.
More than 95% of all Saudi oil is produced on behalf of the Saudi Government by the parastatal giant Saudi ARAMCO. In June 1993, Saudi ARAMCO absorbed the state marketing and refining company (SAMAREC), becoming the world's largest fully integrated oil company. Most Saudi oil exports move by tanker from Gulf terminals at Ras Tanura and Ju'aymah. The remaining oil exports are transported via the east-west pipeline across the kingdom to the Red Sea port of Yanbu. A major new gas initiative promises to bring significant investment by U.S. and European oil companies to develop nonassociated gas fields in three separate parts of Saudi Arabia. Following final technical agreements with concession awardees in December 2001, development should begin in 2002.
Due to a sharp rise in petroleum revenues in 1974 following the 1973 Arab-Israeli war, Saudi Arabia became one of the fastest-growing economies in the world. It enjoyed a substantial surplus in its overall trade with other countries; imports increased rapidly; and ample government revenues were available for development, defense, and aid to other Arab and Islamic countries.
But higher oil prices led to development of more oil fields around the world and reduced global consumption. The result, beginning in the mid-1980s, was a worldwide oil glut, which introduced an element of planning uncertainty for the first time in a decade. Saudi oil production, which had increased to almost 10 million barrels (1.6 million m³) per day during 1980-81, dropped to about 2 million barrels/day (300,000 m³/day) in 1985. Budgetary deficits developed, and the government drew down its foreign assets. Responding to financial pressures, Saudi Arabia gave up its role as the "swing producer" within OPEC in the summer of 1985 and accepted a production quota. Since then, Saudi oil policy has been guided by a desire to maintain market and quota shares.
However, beginning in late 1997, Saudi Arabia again faced the challenge of low oil prices. Due to a combination of factors--the East Asian economic crises, a warm winter in the West caused by El Niño, and an increase in non-OPEC oil production--demand for oil slowed and pulled oil prices down by more than one-third.
Saudi Arabia was a key player in coordinating the successful 1999 campaign of OPEC and other oil-producing countries to raise the price of oil to its highest level since the Gulf War by managing production and supply of petroleum. That same year, Saudi Arabia established the Supreme Economic Council to formulate and better coordinate economic development policies in order to accelerate institutional and industrial reform.
Diversification
As of 2007, non-oil manufacturing contributed 10% to Saudi Arabian GDP and less than 6% of total employment.
Through 5-year development plans, the government has sought to allocate its petroleum income to transform its relatively undeveloped, oil-based economy into that of a modern industrial state while maintaining the kingdom's traditional Islamic values and customs. Although economic planners have not achieved all their goals, the economy has progressed rapidly. Oil wealth has increased the standard of living of most Saudis. However, significant population growth has strained the government's ability to finance further improvements in the country's standard of living. Heavy dependence on petroleum revenue continues, but industry and agriculture now account for a larger share of economic activity. The mismatch between the job skills of Saudi graduates and the needs of the private job market at all levels remains the principal obstacle to economic diversification and development; about 4.6 million non-Saudis are employed in the economy.
Saudi Arabia's first two development plans, covering the 1970s, emphasized infrastructure. The results were impressive - the total length of paved highways tripled, power generation increased by a multiple of 28, and the capacity of the seaports grew tenfold. For the third plan (1980-85), the emphasis changed. Spending on infrastructure declined, but it rose markedly on education, health, and social services. The share for diversifying and expanding productive sectors of the economy (primarily industry) did not rise as planned, but the two industrial cities of Jubail and Yanbu--built around the use of the country's oil and gas to produce steel, petrochemicals, fertilizer, and refined oil products--were largely completed.
In the fourth plan (1985-90), the country's basic infrastructure was viewed as largely complete, but education and training remained areas of concern. Private enterprise was encouraged, and foreign investment in the form of joint ventures with Saudi public and private companies was welcomed. The private sector became more important, rising to 70% of non-oil GDP by 1987. While still concentrated in trade and commerce, private investment increased in industry, agriculture, banking, and construction companies. These private investments were supported by generous government financing and incentive programs. The objective was for the private sector to have 70% to 80% ownership in most joint venture enterprises.
The fifth plan (1990-95) emphasized consolidation of the country's defenses; improved and more efficient government social services; regional development; and, most importantly, creating greater private-sector employment opportunities for Saudis by reducing the number of foreign workers.
The sixth plan (1996-2000) focused on lowering the cost of government services without cutting them and sought to expand educational training programs. The plan called for reducing the kingdom's dependence on the petroleum sector by diversifying economic activity, particularly in the private sector, with special emphasis on industry and agriculture. It also continued the effort to "Saudiize" the labor force.
The seventh plan (2000-2004) focuses more on economic diversification and a greater role of the private sector in the Saudi economy. For the period 2000-2004, the Saudi Government aims at an average GDP growth rate of 3.16% each year, with projected growths of 5.04% for the private sector and 4.01% for the non-oil sector. The government also has set a target of creating 817,300 new jobs for Saudi nationals.
Advertising expenditures have reached new peaks due to emphasis on value-added manufacturing
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