Friday, July 31, 2009
Japan's way to combat the growing unemployment
Just minutes before, I was watching a programme on CNN which showed Japan intuitive measures to overcome the harms of unemployment.Say Hello to Hello Work!!! That's right, Japan's new initiative includes these places where the unemployed can not only register to get unemployment benefits but also receive Job training.The administrators said that all sorts of jobless people were getting trained there; from motor company employees to office workers,everybody is there to learn some new tricks.This ensured that the jobless people get, at least, some of their pay to feed their families. While Japan's economy has been synonimous for some time with economic slowdown, the worlwide slowdown has hit it hard,causing exports to plummet down. Let us see whether these Hello Work centres actually Hello jobs in the future!
Thursday, July 30, 2009
PM's ambitious dreams!!!!!!
Today's latest news is our esteemed PM has asserted that he wants the country's literacy rate to be 100% 15 years fro now.One thing is for sure,our PM sure loves bright students. Anybodywho has seen the prize giving ceremony of the matric high achievers can attest this fact. But then, dont you think that this claim is too far fetched? One might as well start believing that the recession is going to end completely in the next few minutes.
Although,this statement shows that our PM wants our literacy rate to improve but the assertion itself is extremely difficult to achieve.Unless, Mr.president is planning to sell everybody he has and ask every country for aid(which is, of course, his favourite past time),it remains an utter impossibility - especially with the time frame given.Although, nobody is going to be happier than me if that were true.Lets hope, a miracle happens and what Mr.Gillani has said comes true:)
Although,this statement shows that our PM wants our literacy rate to improve but the assertion itself is extremely difficult to achieve.Unless, Mr.president is planning to sell everybody he has and ask every country for aid(which is, of course, his favourite past time),it remains an utter impossibility - especially with the time frame given.Although, nobody is going to be happier than me if that were true.Lets hope, a miracle happens and what Mr.Gillani has said comes true:)
Tuesday, July 28, 2009
Samsung mobile phones sales increase by 14 percent in Q2
Day before yesterday,Samsung announced its quarterly financial report and the company obviously finds itself in a very good spot with each of its divisions' profits on the rise.
The consolidated operating profit for the quarter has been about 1.42 billion euro, marking a 5 percent increase year-over-year and 436 percent rise over the previous quarter.
The sales of mobile handsets have increased 14 percent quarter-over-quarter to 52.3 million units in the second three-month period of the year. Another good news is the 2 percent increase in the average sales price for Samsung handsets, suggesting a larger number of high-end devices sold.
Samsung are estimating that the world economies are starting to shake off the financial crisis consequences and expect the handset demand to increase by 5 percent in Q3. This seems pretty bold compared to the far more conservative predictions of most competitors for continuation of the hard market conditions.
The South Korean company expects to continue to gain market share by expanding its product lineup and through close partnerships with mobile service providers.
Samsung even forecast that even with the current market conditions it will exceed its full year sales target of 200 million units. Now certainly if the trend of Samsung outperforming the market goes on for a while longer we might just have a new market leader in the coming years.
For all you,numerophiles (if that is even a word) I will also post the link to the samsung's officially released report.http://www.samsung.com/us/aboutsamsung/news/newsIrRead.do?
The consolidated operating profit for the quarter has been about 1.42 billion euro, marking a 5 percent increase year-over-year and 436 percent rise over the previous quarter.
The sales of mobile handsets have increased 14 percent quarter-over-quarter to 52.3 million units in the second three-month period of the year. Another good news is the 2 percent increase in the average sales price for Samsung handsets, suggesting a larger number of high-end devices sold.
Samsung are estimating that the world economies are starting to shake off the financial crisis consequences and expect the handset demand to increase by 5 percent in Q3. This seems pretty bold compared to the far more conservative predictions of most competitors for continuation of the hard market conditions.
The South Korean company expects to continue to gain market share by expanding its product lineup and through close partnerships with mobile service providers.
Samsung even forecast that even with the current market conditions it will exceed its full year sales target of 200 million units. Now certainly if the trend of Samsung outperforming the market goes on for a while longer we might just have a new market leader in the coming years.
For all you,numerophiles (if that is even a word) I will also post the link to the samsung's officially released report.http://www.samsung.com/us/aboutsamsung/news/newsIrRead.do?
Sunday, July 26, 2009
THE BIG FAIL
tate regulators shut down seven regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 64 this year.
Six of the banks that closed were subsidiaries of one larger bank, the Security Bank Corporation, based out of Macon, Ga. So far in 2009, 16 banks have failed in Georgia, more than in any other single state.
The State Bank and Trust Company, headquartered in Pinehurst, Ga., will take over all of the deposits of the six bank subsidiaries that failed. As of March 31, the six subsidiaries had total assets of $2.8 billion and total deposits of approximately $2.4 billion.
The six failed Georgia banks had a total of 20 branches, and the branches will reopen Saturday as branches of State Bank and Trust Company.
Earlier in the evening, Waterford Village Bank, of Clarence, N.Y., was shut down, and the FDIC was named the receiver. Evans Bank, N.A., headquartered in Angola, N.Y., took over all of the deposits of the failed bank.
It makes sense,doesnt it?The smalller banks give out loans to smaller firms and lenders who are more prone to recession and stuff.So,it is easy to see that the banks were mostly small.However,this closure is costly as it would cost the FDIC $812.6 million,bringing the total cost for failed banks to $14.6 billion as compared to $17.6 billion in all of 2008.So,apparently,this is no ha-ha business.
Six of the banks that closed were subsidiaries of one larger bank, the Security Bank Corporation, based out of Macon, Ga. So far in 2009, 16 banks have failed in Georgia, more than in any other single state.
The State Bank and Trust Company, headquartered in Pinehurst, Ga., will take over all of the deposits of the six bank subsidiaries that failed. As of March 31, the six subsidiaries had total assets of $2.8 billion and total deposits of approximately $2.4 billion.
The six failed Georgia banks had a total of 20 branches, and the branches will reopen Saturday as branches of State Bank and Trust Company.
Earlier in the evening, Waterford Village Bank, of Clarence, N.Y., was shut down, and the FDIC was named the receiver. Evans Bank, N.A., headquartered in Angola, N.Y., took over all of the deposits of the failed bank.
It makes sense,doesnt it?The smalller banks give out loans to smaller firms and lenders who are more prone to recession and stuff.So,it is easy to see that the banks were mostly small.However,this closure is costly as it would cost the FDIC $812.6 million,bringing the total cost for failed banks to $14.6 billion as compared to $17.6 billion in all of 2008.So,apparently,this is no ha-ha business.
Friday, July 24, 2009
Stocks pull back a bit after prior day's big jump
After crossing the high 9000 psychological marker,stocks are slightly lower in the early friday market.Stocks are slightly lower in early trading Friday, as disappointing earnings news from companies like Microsoft Corp. and Amazon.com Inc. weigh on the market.
Microsoft shares dropped more than 7 percent after the tech giant said late Thursday its revenue fell short of analysts' expectations. Amazon.com also reported weaker-than-expected sales, and its shares fell more than 6 percent in early trading. (Source:Yahoo News)
Although the theme had been one of consistent reports of increased earnings by the companies,these had been achieved more by agressive cost-cutting strategies than increased sales but still, expectations that a recovery in the next quarter is iminent have not abated.
Microsoft shares dropped more than 7 percent after the tech giant said late Thursday its revenue fell short of analysts' expectations. Amazon.com also reported weaker-than-expected sales, and its shares fell more than 6 percent in early trading. (Source:Yahoo News)
Although the theme had been one of consistent reports of increased earnings by the companies,these had been achieved more by agressive cost-cutting strategies than increased sales but still, expectations that a recovery in the next quarter is iminent have not abated.
Monday, July 20, 2009
US leading economic indicators rise more than expected in June, 3rd straight monthly increase
"More plans to build homes, higher stock prices and fewer people filing first-time claims jobless aid sent a private-sector forecast of U.S. economic activity higher than expected in June.
It was the third straight monthly increase for the New York-based Conference Board's index of leading economic indicators, and another sign pointing toward the recession ending later this year.
The index rose 0.7 percent last month. Wall Street analysts polled by Thomson Reuters expected a gain of 0.4 percent."(Source:Yahoo News)
People,and here is the good news,it is also said that the figures in themselves(as always) do not signify that recession is over but do send a positive message that we can expect a slow recovery this autumn.Now aint that a thing to party about?
It was the third straight monthly increase for the New York-based Conference Board's index of leading economic indicators, and another sign pointing toward the recession ending later this year.
The index rose 0.7 percent last month. Wall Street analysts polled by Thomson Reuters expected a gain of 0.4 percent."(Source:Yahoo News)
People,and here is the good news,it is also said that the figures in themselves(as always) do not signify that recession is over but do send a positive message that we can expect a slow recovery this autumn.Now aint that a thing to party about?
Sunday, July 19, 2009
BROADBAND GAINS TRACTION DESPITE ECONOMIC CRISIS
More people worldwide are subscribingto high-speed internetconnections,despite the economic downturn,with China and other Asian countries among the world leaders. This was indicated in a study released at the CommunicAsia 2009 trade fair in Singapore last month.
The study showed that the number of broadband lines grew by 16.6 million globally in the last quarter alone to more than 429 million. I t said that broadband penetration in 20 countries grew by 10% or more in the first quarter from the previous three months,with the biggest rise coming from India at 13.4%.Sure,all this goes on to show the importance given to broadband that even at these harsh times, broadband continues to excel. (Source:Yahoo News)
The study showed that the number of broadband lines grew by 16.6 million globally in the last quarter alone to more than 429 million. I t said that broadband penetration in 20 countries grew by 10% or more in the first quarter from the previous three months,with the biggest rise coming from India at 13.4%.Sure,all this goes on to show the importance given to broadband that even at these harsh times, broadband continues to excel. (Source:Yahoo News)
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