Thursday, December 13, 2007
Wednesday, December 12, 2007
Babies Toys & Education - Multi-billion Dollar Niche
The niche market of newborns to three-year-olds is booming, with toys and educational materials developed for this sector now a $20 billion global industry.
We now spend an average of $1000 a year on toys and nursery products for the up-to-three-year-olds, according to market research company GFK Oztoys. The Australian market topped $1 billion this year - a 10 per cent growth in the past 10 months alone...
Interesting post, more from here
We now spend an average of $1000 a year on toys and nursery products for the up-to-three-year-olds, according to market research company GFK Oztoys. The Australian market topped $1 billion this year - a 10 per cent growth in the past 10 months alone...
Interesting post, more from here
Zimbabwe's Inflation Results in Trillion Dollar House, Billion $ Bed
Zimbabwe's trillion dollar house, billion dollar bed
11 Dec 2007
A trillion dollar house, billion dollar bed and a million dollar beer. That and a severe cash squeeze are the latest sign of runaway inflation that has vexed consumers in President Robert Mugabe's Zimbabwe. A four-bedroom house with a pool and tennis court in Harare's leafy Glen Lorne suburb sells for about ZW$1 trillion, a whopping $33 million at the official bank rate but only $667,000 on a widely used black market.
Prices of household furniture, groceries and food and rentals have more than doubled in the past month...
Interesting article @ Reuters
11 Dec 2007
A trillion dollar house, billion dollar bed and a million dollar beer. That and a severe cash squeeze are the latest sign of runaway inflation that has vexed consumers in President Robert Mugabe's Zimbabwe. A four-bedroom house with a pool and tennis court in Harare's leafy Glen Lorne suburb sells for about ZW$1 trillion, a whopping $33 million at the official bank rate but only $667,000 on a widely used black market.
Prices of household furniture, groceries and food and rentals have more than doubled in the past month...
Interesting article @ Reuters
Friday, November 9, 2007
New York Art World Makes a Billion-Dollar Bet
The Art World Makes a Billion-Dollar Bet
Consumer confidence is at a two-year low, oil prices at an all-time high, a million or more sub-prime mortgagees are facing eviction from their homes...But in the art world, the party's just getting started -- and this could be the year the market breaks the $1 billion mark.
The fall art season is in full swing, with the major sales of contemporary art at the principal New York auction houses, Sotheby's and Christie's, scheduled for November 2007. Contemporary art has been leading the market for five years now...
At the 2006 New York sales, contemporary art raked in over $871 million altogether - an abstraction by painter Mark Rothko brought $72.84 million, and Andy Warhol's "Green Car Crash (Green Burning Car I)" (1963), sold for $71.72 million...
Full report here @ NJ
Consumer confidence is at a two-year low, oil prices at an all-time high, a million or more sub-prime mortgagees are facing eviction from their homes...But in the art world, the party's just getting started -- and this could be the year the market breaks the $1 billion mark.
The fall art season is in full swing, with the major sales of contemporary art at the principal New York auction houses, Sotheby's and Christie's, scheduled for November 2007. Contemporary art has been leading the market for five years now...
At the 2006 New York sales, contemporary art raked in over $871 million altogether - an abstraction by painter Mark Rothko brought $72.84 million, and Andy Warhol's "Green Car Crash (Green Burning Car I)" (1963), sold for $71.72 million...
Full report here @ NJ
New York $2.5 Billion Plan to Revitalize Coney Island
New York $2.5 Billion Plan to Revitalize Coney Island
New York City Mayor Michael Bloomberg on Thursday unveiled a 2.5-billion-dollar plan to revitalize Coney Island and turn it into the largest urban amusement park in the United States.
The plan calls for rezoning the northern end of Coney Island for hotels, residential and retail space, and transforming the streetscape on the west.
Full report from here
New York City Mayor Michael Bloomberg on Thursday unveiled a 2.5-billion-dollar plan to revitalize Coney Island and turn it into the largest urban amusement park in the United States.
The plan calls for rezoning the northern end of Coney Island for hotels, residential and retail space, and transforming the streetscape on the west.
Full report from here
Sunday, September 2, 2007
Voyager: 8 Billion Miles and Counting
Voyager: 8 Billion Miles and Counting
This has nothing to do with billions of dollars, but with something that makes even trillions of dollars utterly trivial.
Thirty years ago, the Voyager space probes set off to visit distant planets. As they finally leave the Solar System, Steve Connor @ The Independent, UK looks back at what we've learned. I liked the opening sentences: "Of all the spectacular images sent back to Earth from the two Voyager spacecraft – which celebrate their 30th anniversaries this month – perhaps the most poignant was taken on 14 February 1990, when Voyager 1 turned its camera around to where it had come from and captured a picture of our home planet from a distance of more than four billion miles. The image became known as The Pale Blue Dot – the Earth floating as a single point in the enormity of space."
Well, that's what we are in the big picture - a small, floating inconsequential dot that would have already disappeared from the Voyager's radar by now.
The article on the current status of the Voyager (it is still traveling, now out of the solar system) is quite interesting...full article here
Just one last bit of factoid from the report: "It will take 40,000 years before the two space probes skim past the nearest interplanetary system..." Utterly overwhelming and mind boggling
This has nothing to do with billions of dollars, but with something that makes even trillions of dollars utterly trivial.
Thirty years ago, the Voyager space probes set off to visit distant planets. As they finally leave the Solar System, Steve Connor @ The Independent, UK looks back at what we've learned. I liked the opening sentences: "Of all the spectacular images sent back to Earth from the two Voyager spacecraft – which celebrate their 30th anniversaries this month – perhaps the most poignant was taken on 14 February 1990, when Voyager 1 turned its camera around to where it had come from and captured a picture of our home planet from a distance of more than four billion miles. The image became known as The Pale Blue Dot – the Earth floating as a single point in the enormity of space."
Well, that's what we are in the big picture - a small, floating inconsequential dot that would have already disappeared from the Voyager's radar by now.
The article on the current status of the Voyager (it is still traveling, now out of the solar system) is quite interesting...full article here
Just one last bit of factoid from the report: "It will take 40,000 years before the two space probes skim past the nearest interplanetary system..." Utterly overwhelming and mind boggling
Over $100 Million Required to Tame Sri Lankan Elephants
Rs. 10 billion needed to manage wild elephants of Sri Lanka
August 31, 2007, ColomboPage News Desk
A Sri Lanka Minister says that the Ministry needs Rs. 10 billion per year (about us$ 200 million US$) for the management of wild elephants in the country. However, the Ministry receives only Rs. 3 billion for all its work, according to him.
The Minister also pointed out that the shortage of tamed elephants would be a problem in future since - there are only 137 tamed elephants while there are 72 famous cultural pageants per year countrywide.
Extra-ordinary! Who would have thought that taming of elephants would be such a sizable industry!
Oringinal news source: Colombo Page
August 31, 2007, ColomboPage News Desk
A Sri Lanka Minister says that the Ministry needs Rs. 10 billion per year (about us$ 200 million US$) for the management of wild elephants in the country. However, the Ministry receives only Rs. 3 billion for all its work, according to him.
The Minister also pointed out that the shortage of tamed elephants would be a problem in future since - there are only 137 tamed elephants while there are 72 famous cultural pageants per year countrywide.
Extra-ordinary! Who would have thought that taming of elephants would be such a sizable industry!
Oringinal news source: Colombo Page
Custom Installers' Business to Bring in $20 Billion by 2012
Custom Installers' Business to Bring in $20 Billion by 2012
U.S. revenues generated through the custom integration and installation industry are projected to grow between eight and nine percent between 2007 and 2008, with total industry revenues hitting growing to surpass $11 billion in 2008, as technology advancements permit more retrofit projects and sales by existing dealers grow.
It is highly likely that new owners of homes will upgrade their entertainment, security, and other home systems. On average, 1.5 to 2 million new homes are built annually in the U.S., with six to seven million existing homes changing ownership each year.
Many new owners of pre-existing homes acquire their new residence with the intent to renovate or retrofit it. The power line retrofit method uses the existing power wiring in one's home for new networking.
Increasingly, home technology systems are being networked with Wireless LAN (WiFi) - a WiFi-enabled device can be wirelessly connected to the home's main network by way of a receiver that just plugs right into the nearest mains socket.
Full report from here @ Associated Content
U.S. revenues generated through the custom integration and installation industry are projected to grow between eight and nine percent between 2007 and 2008, with total industry revenues hitting growing to surpass $11 billion in 2008, as technology advancements permit more retrofit projects and sales by existing dealers grow.
It is highly likely that new owners of homes will upgrade their entertainment, security, and other home systems. On average, 1.5 to 2 million new homes are built annually in the U.S., with six to seven million existing homes changing ownership each year.
Many new owners of pre-existing homes acquire their new residence with the intent to renovate or retrofit it. The power line retrofit method uses the existing power wiring in one's home for new networking.
Increasingly, home technology systems are being networked with Wireless LAN (WiFi) - a WiFi-enabled device can be wirelessly connected to the home's main network by way of a receiver that just plugs right into the nearest mains socket.
Full report from here @ Associated Content
London Finance Bonuses Soar 30% to £14 Billion High
City Bonuses Soar 30pc to £14 Billion High
By Sophie Borland, 31 Aug 2007
Bonuses taken home by London's financial sector workers have gone up by 30 per cent in the last year, fuelling a mass demand for luxuries such as yachts, Rolls-Royces and country homes - specifically in the luxury car and superyacht market.
The total pocketed by those working in the financial sector now stands at £14.1 billion, the highest on record. This figure has increased by twice as much as it did during the previous financial year when it stood at £10.9 billion.
Read the full report from here @ The Telegraph, UK
By Sophie Borland, 31 Aug 2007
Bonuses taken home by London's financial sector workers have gone up by 30 per cent in the last year, fuelling a mass demand for luxuries such as yachts, Rolls-Royces and country homes - specifically in the luxury car and superyacht market.
The total pocketed by those working in the financial sector now stands at £14.1 billion, the highest on record. This figure has increased by twice as much as it did during the previous financial year when it stood at £10.9 billion.
Read the full report from here @ The Telegraph, UK
$50 billion worth natural gas wasted through flaring
$50 billion worth natural gas wasted through flaring
The world's oil producers are wasting more than $50 billion a year of natural gas by burning it off in flares — and adding significantly to the world's greenhouse gas emissions in the process.
A study commissioned by the World Bank estimates that, based on satellite photos, 170 billion cubic metres of natural gas went up in oil producers' flares last year.
The bank said the amount was equivalent to 27 per cent of the entire US consumption of natural gas, and 5.5 per cent of global gas output, and has called upon the various countries and producers to take steps to reduce the wastage.
I'm wondering whether the oil & gas industry equipment manufacturers have given this opportunity enough thought...
Read the full news report from here @ The Age, Australia
The world's oil producers are wasting more than $50 billion a year of natural gas by burning it off in flares — and adding significantly to the world's greenhouse gas emissions in the process.
A study commissioned by the World Bank estimates that, based on satellite photos, 170 billion cubic metres of natural gas went up in oil producers' flares last year.
The bank said the amount was equivalent to 27 per cent of the entire US consumption of natural gas, and 5.5 per cent of global gas output, and has called upon the various countries and producers to take steps to reduce the wastage.
I'm wondering whether the oil & gas industry equipment manufacturers have given this opportunity enough thought...
Read the full news report from here @ The Age, Australia
Auto Preventive Maintenance is a $62 Billion Market
Preventive maintenance: A $62 billion market
Modern Tire Dealer, Aug 31, 2007
It is a huge, untapped market, according to the Automotive Aftermarket Industry Association, which estimates the market at $62 billion..
Read the full report from here @ Modern Tire Dealer
Modern Tire Dealer, Aug 31, 2007
It is a huge, untapped market, according to the Automotive Aftermarket Industry Association, which estimates the market at $62 billion..
Read the full report from here @ Modern Tire Dealer
Mid Life Crisis for Men a 50 Billion $ Biz Opportunity
£24 billion: The shock cost of the male midlife crisis
1st September 2007, Daily Mail, UK
A study has found the cost of the male mid-life crisis is £24 billion a year.
The favourite means of overcoming the crisis is a foreign holiday, costing British men in their 30s and 40s £1,340 each a year. Next come cool gadgets at £295 and beauty products at £285.
Meanwhile, the bill for cars and motorbikes amounts to a total of £1.5billion.
Read the full report from Daily Mail, UK
It's surprising no business has attempted to exploit this large business opportunity, or perhaps they have, in their own subtle ways!
1st September 2007, Daily Mail, UK
A study has found the cost of the male mid-life crisis is £24 billion a year.
The favourite means of overcoming the crisis is a foreign holiday, costing British men in their 30s and 40s £1,340 each a year. Next come cool gadgets at £295 and beauty products at £285.
Meanwhile, the bill for cars and motorbikes amounts to a total of £1.5billion.
Read the full report from Daily Mail, UK
It's surprising no business has attempted to exploit this large business opportunity, or perhaps they have, in their own subtle ways!
2 Billion Mice Take Over Chinese Town
2 Billion Mice Take Over Chinese Town
Detroit Free Press, United States - Sep 1, 2007
About 2 billion mice nesting on the shores of China's second-largest freshwater lake gnawed their way through 1.3 million acres of cropland when rising waters forced them to move inshore. Read more from this Detroit Free Press report
Detroit Free Press, United States - Sep 1, 2007
About 2 billion mice nesting on the shores of China's second-largest freshwater lake gnawed their way through 1.3 million acres of cropland when rising waters forced them to move inshore. Read more from this Detroit Free Press report
Tuesday, August 28, 2007
Workplace Unfairness Costs U.S. Employers $64 Billion Annually
Workplace Unfairness Costs U.S. Employers an Estimated $64 Billion Annually in Employee Turnover
28 Aug 2007, PressRelease
SAN FRANCISCO, Aug. 28 -- A new study reveals that workplace unfairness costs U.S. employers an estimated $64 billion per year in turnover of managers and professionals, in addition to costs from decreased sales of products and services and damaged employer reputation.
"The Corporate Leavers Survey," conducted by the Level Playing Field Institute and sponsored by Korn/Ferry International, finds that each year more than two million professionals and managers leave their corporate employers due solely to workplace unfairness. According to the survey, people of color are three times more likely and gays and lesbians are twice as likely as heterosexual Caucasian males to have left their jobs due solely to workplace unfairness.
"The study highlights that unfairness in the form of everyday inappropriate behaviors is a very real, prevalent and damaging part of today's work environment," said Freada Kapor Klein, Ph.D., founder and board chair of the Level Playing Field Institute. "The cumulative impact of stereotyping, subtle slights and being excluded is extraordinarily costly for individuals, employers and the society as a whole. It is sadly ironic that so much money is spent on recruiting and so little attention is devoted to creating a fair and welcoming work environment. Many companies become revolving doors for people of color, gays and lesbians and women."
Among the specific types of unfairness inquired about, the behaviors which were most likely to prompt someone to quit were: "being asked to attend more recruiting or community events" based on their race, gender, religion or sexual orientation (16 percent), "being passed over for a promotion" (15 percent) and "being compared to a terrorist" (19 percent). Although the actual incidence rate of being compared to a terrorist was small (2 percent), when it did occur, it had a profound effect and was one of the behaviors most frequently associated with an employee's decision to leave solely due to unfairness.
Additionally, 27 percent who experienced unfairness said their experience "strongly" discouraged them from recommending their employer to other potential employees. Similarly, 13 percent said their experience "strongly" discouraged them from recommending their employer's products or services to others.
"A perception of workplace unfairness can have a substantial negative impact on an organization's employment brand," said Eunice Azzani, senior client partner for Korn/Ferry.
Respondents to the survey also expressed differing opinions on which actions their employers could have taken to convince them to stay. Fair compensation was the most important factor for heterosexual Caucasian men and women, while almost half (43 percent) of gays and lesbians would have been "much more likely" to stay if they were offered better benefits. More than one-third of people of color (34 percent) indicated they would have likely stayed if their employer had better management who recognized their abilities.
The Corporate Leaver Survey also includes qualitative anecdotes and interviews from over 1,000 professionals. Notable comments include:
* "One of my coworkers was buying a new house so we went to Google maps
to look it up. It's a satellite image so you can zoom in and see an
image of the actual house. Another co-worker walked by and said, "What,
are you selecting a target?" -- An Arab male finance professional
* "I worked with a particular senior attorney for years and one morning I
went into his office to talk to him. In the middle of the conversation,
he looks up at me and says, 'Wait a minute, you are not [the name of the
other black associate].'" -- An African-American female attorney
* "I was top in my class...then the ceiling hit fast...when word spread
that I was vocal about hot topics like education reform and immigrant
issues, I was marginalized at work functions." -- A Latino banking
executive
* "We found out that our company offered pet health insurance, including
unusual pets like pigs, rats and snakes but they didn't offer same sex
domestic partner benefits." -- A lesbian retail professional
* "My manager told me I was too 'ethnic' looking to be taken seriously.
-- A Latina information technology professional
* "When I had errors on my work, even it was really minor, the partner
would say, 'There is an English problem here,' instead of just calling
it a typo." -- An Asian female attorney
An executive summary of the Survey findings and information on how to purchase the Report can be found at: http://www.lpfi.org/workplace/corporateleavers.shtml
Methodology
The Level Playing Field Institute estimated the cost of unfairness in the workplace at $64 billion by multiplying the number of survey respondents who left the workplace solely due to unfairness by the most conservative average cost of replacing one professional or manager. The Corporate Leavers Survey is based on an initial screener survey of over 19,000 individuals, representative of the U.S. workforce, which yielded 1,700 professionals and managers who had quit or volunteered to be laid off within the past five years.
About the Level Playing Field Institute
Level Playing Field Institute promotes innovative approaches to fairness in higher education and the workplace by identifying and removing barriers that prevent individuals from reaching their full potential. Its vision is that all students, regardless of socio-economic status, will have opportunities to apply to and graduate from top colleges and universities, resulting in communities and workplaces that benefit from competitive leaders representing broad perspectives of society.
Visit http://www.lpfi.org/ for more information.
About Korn/Ferry International
Korn/Ferry International, with more than 70 offices in 40 countries, is a premier global provider of talent management solutions. The firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information, visit http://www.kornferry.com/
Source: Level Playing Field Institute
28 Aug 2007, PressRelease
SAN FRANCISCO, Aug. 28 -- A new study reveals that workplace unfairness costs U.S. employers an estimated $64 billion per year in turnover of managers and professionals, in addition to costs from decreased sales of products and services and damaged employer reputation.
"The Corporate Leavers Survey," conducted by the Level Playing Field Institute and sponsored by Korn/Ferry International, finds that each year more than two million professionals and managers leave their corporate employers due solely to workplace unfairness. According to the survey, people of color are three times more likely and gays and lesbians are twice as likely as heterosexual Caucasian males to have left their jobs due solely to workplace unfairness.
"The study highlights that unfairness in the form of everyday inappropriate behaviors is a very real, prevalent and damaging part of today's work environment," said Freada Kapor Klein, Ph.D., founder and board chair of the Level Playing Field Institute. "The cumulative impact of stereotyping, subtle slights and being excluded is extraordinarily costly for individuals, employers and the society as a whole. It is sadly ironic that so much money is spent on recruiting and so little attention is devoted to creating a fair and welcoming work environment. Many companies become revolving doors for people of color, gays and lesbians and women."
Among the specific types of unfairness inquired about, the behaviors which were most likely to prompt someone to quit were: "being asked to attend more recruiting or community events" based on their race, gender, religion or sexual orientation (16 percent), "being passed over for a promotion" (15 percent) and "being compared to a terrorist" (19 percent). Although the actual incidence rate of being compared to a terrorist was small (2 percent), when it did occur, it had a profound effect and was one of the behaviors most frequently associated with an employee's decision to leave solely due to unfairness.
Additionally, 27 percent who experienced unfairness said their experience "strongly" discouraged them from recommending their employer to other potential employees. Similarly, 13 percent said their experience "strongly" discouraged them from recommending their employer's products or services to others.
"A perception of workplace unfairness can have a substantial negative impact on an organization's employment brand," said Eunice Azzani, senior client partner for Korn/Ferry.
Respondents to the survey also expressed differing opinions on which actions their employers could have taken to convince them to stay. Fair compensation was the most important factor for heterosexual Caucasian men and women, while almost half (43 percent) of gays and lesbians would have been "much more likely" to stay if they were offered better benefits. More than one-third of people of color (34 percent) indicated they would have likely stayed if their employer had better management who recognized their abilities.
The Corporate Leaver Survey also includes qualitative anecdotes and interviews from over 1,000 professionals. Notable comments include:
* "One of my coworkers was buying a new house so we went to Google maps
to look it up. It's a satellite image so you can zoom in and see an
image of the actual house. Another co-worker walked by and said, "What,
are you selecting a target?" -- An Arab male finance professional
* "I worked with a particular senior attorney for years and one morning I
went into his office to talk to him. In the middle of the conversation,
he looks up at me and says, 'Wait a minute, you are not [the name of the
other black associate].'" -- An African-American female attorney
* "I was top in my class...then the ceiling hit fast...when word spread
that I was vocal about hot topics like education reform and immigrant
issues, I was marginalized at work functions." -- A Latino banking
executive
* "We found out that our company offered pet health insurance, including
unusual pets like pigs, rats and snakes but they didn't offer same sex
domestic partner benefits." -- A lesbian retail professional
* "My manager told me I was too 'ethnic' looking to be taken seriously.
-- A Latina information technology professional
* "When I had errors on my work, even it was really minor, the partner
would say, 'There is an English problem here,' instead of just calling
it a typo." -- An Asian female attorney
An executive summary of the Survey findings and information on how to purchase the Report can be found at: http://www.lpfi.org/workplace/corporateleavers.shtml
Methodology
The Level Playing Field Institute estimated the cost of unfairness in the workplace at $64 billion by multiplying the number of survey respondents who left the workplace solely due to unfairness by the most conservative average cost of replacing one professional or manager. The Corporate Leavers Survey is based on an initial screener survey of over 19,000 individuals, representative of the U.S. workforce, which yielded 1,700 professionals and managers who had quit or volunteered to be laid off within the past five years.
About the Level Playing Field Institute
Level Playing Field Institute promotes innovative approaches to fairness in higher education and the workplace by identifying and removing barriers that prevent individuals from reaching their full potential. Its vision is that all students, regardless of socio-economic status, will have opportunities to apply to and graduate from top colleges and universities, resulting in communities and workplaces that benefit from competitive leaders representing broad perspectives of society.
Visit http://www.lpfi.org/ for more information.
About Korn/Ferry International
Korn/Ferry International, with more than 70 offices in 40 countries, is a premier global provider of talent management solutions. The firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information, visit http://www.kornferry.com/
Source: Level Playing Field Institute
Facebook Could be Worth 100 billion $ ?
Facebook Could be Worth 100 billion $ ?
Lee Lorenzen from Altura Ventures, in an interview, says Facebook will go for an IPO in about 18 months and could be valued at 100 billion $. Hello, did I hear that right? It appears that was what he meant (Lee is the CEO of the first Facebook VC Fund that is purely focused on the facebook environment).
Why does Lee fail a social networking application could be worth so much?
* 200 Million facebook users coming soon
* User engagement matters
* Facebook does a great job with privacy controls
OK, all good points, but worth 100 billion? I seriously doubt it, in fact I doubt if Lee himself meant the 100 b seriously
Access the full interview from here
Lee Lorenzen from Altura Ventures, in an interview, says Facebook will go for an IPO in about 18 months and could be valued at 100 billion $. Hello, did I hear that right? It appears that was what he meant (Lee is the CEO of the first Facebook VC Fund that is purely focused on the facebook environment).
Why does Lee fail a social networking application could be worth so much?
* 200 Million facebook users coming soon
* User engagement matters
* Facebook does a great job with privacy controls
OK, all good points, but worth 100 billion? I seriously doubt it, in fact I doubt if Lee himself meant the 100 b seriously
Access the full interview from here
Monday, August 27, 2007
Game Development Outsourcing to be Worth Billions by 2010
Game Development Outsourcing to be Worth Billions by 2010
Game outsourcing is growing fast, and is projected to reach $2.5 Billion by 2010, with 40 percent of the cost spent developing games, according to Screendigest as reported by Wang Zhenghua in China Daily (courtesy: Play No Evil post)
Outsourcing firms have focused on China for two reasons: low cost (of course), but also the potential of the Chinese market.
Revenue from China's online gaming industry reached 6.5 billion yuan in 2006, surging 73 percent over a year earlier, and could quadruple by 2011, says IDC. The venture vulture capitalists are of course aware of this and are reportedly rushing in to see how they can cash in on this multi-billion $ opportunity.
China-made online games, with a 65 percent domestic market share and $20 million in export revenues last year, are beginning to break the traditional domination of South Korea and Japan.
Read the full report from here @ China Daily
Game outsourcing is growing fast, and is projected to reach $2.5 Billion by 2010, with 40 percent of the cost spent developing games, according to Screendigest as reported by Wang Zhenghua in China Daily (courtesy: Play No Evil post)
Outsourcing firms have focused on China for two reasons: low cost (of course), but also the potential of the Chinese market.
Revenue from China's online gaming industry reached 6.5 billion yuan in 2006, surging 73 percent over a year earlier, and could quadruple by 2011, says IDC. The venture vulture capitalists are of course aware of this and are reportedly rushing in to see how they can cash in on this multi-billion $ opportunity.
China-made online games, with a 65 percent domestic market share and $20 million in export revenues last year, are beginning to break the traditional domination of South Korea and Japan.
Read the full report from here @ China Daily
Sunday, August 26, 2007
Billion Light Years of...Nothing!
This is not a billion $ news, but something much much bigger...read on...
Great 'cosmic nothingness' found - BBC report, Aug 24, 2007
Astronomers have found an enormous void in space that measures nearly a billion light-years across. It is empty of both normal matter - such as galaxies and stars - and the mysterious "dark matter" that cannot be seen directly with telescopes.
The "hole" is located in the direction of the Eridanus constellation and has been identified in data from a survey of the sky made at radio wavelengths.
The void discovered by a University of Minnesota team is about 1,000 times the volume of what would be expected in typical cosmic gaps. If you enter this "hole" and are traveling at the speed of light, you'd have to travel for a billion years before you would get to the other side...
This is probably the perfect place to use the term mind-boggling...it is simply beyond anyone's abilityb to comprehend...a billion light years' distance of nothingness...you try digesting it for a moment, and it is likely you will feel somewhat disoriented...
It makes one wonder if there indeed is a God!
Great 'cosmic nothingness' found - BBC report, Aug 24, 2007
Astronomers have found an enormous void in space that measures nearly a billion light-years across. It is empty of both normal matter - such as galaxies and stars - and the mysterious "dark matter" that cannot be seen directly with telescopes.
The "hole" is located in the direction of the Eridanus constellation and has been identified in data from a survey of the sky made at radio wavelengths.
The void discovered by a University of Minnesota team is about 1,000 times the volume of what would be expected in typical cosmic gaps. If you enter this "hole" and are traveling at the speed of light, you'd have to travel for a billion years before you would get to the other side...
This is probably the perfect place to use the term mind-boggling...it is simply beyond anyone's abilityb to comprehend...a billion light years' distance of nothingness...you try digesting it for a moment, and it is likely you will feel somewhat disoriented...
It makes one wonder if there indeed is a God!
Friday, August 24, 2007
Pets are a Fast Growing Billion $ Industry
Pets are a Fast Growing Billion $ Industry
It's well known that pet food is a big industry, but the non-food pet industry is no smaller.
Pampering pets has become big business in US & Canada, with items such as apparel, shoes and carseats helping to drive sales in a pets non-food market estimated to be worth as much as $4.5 billion a year in Canada alone and about $10 billion in the US.
Today's pet owners can find just about anything for their pets - from rhinestone sunglasses or hiking boots for their dogs, to seatbelt harnesses and Harley-Davidson-themed collars for cats. There are wheelchairs to assist pets with disabilities,
lifejackets and strollers for dogs, dog apparel, dog jewelry and dog perfume, filet mignon-flavoured toothpaste for those who want to make pet's teeth more palatable and multiple designer options, including pet carriers from major designer / apparel brands. In the veterinary field in major city centres in Canada they might soon have cancer specialists and chemotherapy for pets!
According to statistics, Canadians have increased spending on their pets from $277 per household in 1999 to $377 in 2005. In the U.S., the non-food pet supplies market is forecast to grow from US$9.9 billion in 2006 to nearly US$15 billion by 2011.
Read the entire report on this attractive industry from here @ Business Edge Canada
It's well known that pet food is a big industry, but the non-food pet industry is no smaller.
Pampering pets has become big business in US & Canada, with items such as apparel, shoes and carseats helping to drive sales in a pets non-food market estimated to be worth as much as $4.5 billion a year in Canada alone and about $10 billion in the US.
Today's pet owners can find just about anything for their pets - from rhinestone sunglasses or hiking boots for their dogs, to seatbelt harnesses and Harley-Davidson-themed collars for cats. There are wheelchairs to assist pets with disabilities,
lifejackets and strollers for dogs, dog apparel, dog jewelry and dog perfume, filet mignon-flavoured toothpaste for those who want to make pet's teeth more palatable and multiple designer options, including pet carriers from major designer / apparel brands. In the veterinary field in major city centres in Canada they might soon have cancer specialists and chemotherapy for pets!
According to statistics, Canadians have increased spending on their pets from $277 per household in 1999 to $377 in 2005. In the U.S., the non-food pet supplies market is forecast to grow from US$9.9 billion in 2006 to nearly US$15 billion by 2011.
Read the entire report on this attractive industry from here @ Business Edge Canada
Wednesday, August 22, 2007
Social Network Site Facebook Costs Au Employers $5 Billion A Year
Social Network Site Facebook Costs Au Employers $5 Billion A Year
By Sharon Gaudin, InformationWeek, August 20, 2007
Workers at the office using social networking sites, like Facebook, are costing employers more than $5 billion a year and putting corporate networks at risk of attack, according to a new study.
The data is out of Australia, but a spokeswoman at security company SurfControl noted that country is ranked fifth among global Facebook users, coming in behind the United States. That, she pointed out, means the problem of lost time and network risk is even greater here in the U.S.
Added across the 800,000 businesses in Australia, one wasted hour a day adds up to a productivity loss of $5 billion annually for the Australian economy, according to the estimate.
News Source
By Sharon Gaudin, InformationWeek, August 20, 2007
Workers at the office using social networking sites, like Facebook, are costing employers more than $5 billion a year and putting corporate networks at risk of attack, according to a new study.
The data is out of Australia, but a spokeswoman at security company SurfControl noted that country is ranked fifth among global Facebook users, coming in behind the United States. That, she pointed out, means the problem of lost time and network risk is even greater here in the U.S.
Added across the 800,000 businesses in Australia, one wasted hour a day adds up to a productivity loss of $5 billion annually for the Australian economy, according to the estimate.
News Source
Wachovia Surpasses $1 Billion in Daily Remote Deposit Capture Transactions
Wachovia Surpasses $1 Billion in Daily Remote Deposit Capture Transactions
August 20, 2007
Press release
CHARLOTTE, N.C., Aug. 20 - Wachovia's Treasury Services division today announced it has reached the $1 billion mark in Remote Deposit Capture (RDC) volumes processed in one day.
"Achieving this $1 billion milestone in RDC transactions processed in one day reflects the phenomenal growth rate for this solution. Businesses are demanding solutions to more efficiently manage payments made by paper check - from deposit preparation and transportation to record-keeping and reporting," said Lee Madden, senior vice president and team manager of Image Services for Wachovia's Treasury Services division. "Wachovia's RDC customer base has grown 40 percent domestically and 42 percent internationally across 25 countries since the beginning of the year, and volume of items processed has grown 30 percent over the same period."
Second Harvest Food Bank of Metrolina is an example of one organization using RDC to optimize its management of paper check payments.
"We run a tight ship, so the efficiencies we have gained from Remote Deposit Capture have made a real difference to our organization," said Akil Boston, Community Development coordinator for Second Harvest Food Bank of Metrolina, which is a not-for-profit organization striving to eliminate hunger across 19 North Carolina and South Carolina counties by collecting and distributing food. Approximately 80 percent of the organization's income comes from fundraising - including special events, grants, corporate donations, direct mail campaigns and other sources.
Boston added, "During peak periods, we used to spend many hours fully dedicated to processing check donations - from scanning on a flatbed scanner to input to our financial system and preparing for bank deposit and transport to bank. With RDC, we have experienced a 60 percent reduction in the amount of hours dedicated to processing checks during holiday periods. I now can manage the volumes of checks more efficiently and still get my day job done - really adding value to our organization."
RDC services allow businesses to make deposits from a desktop computer, accelerating cash flow by enabling deposits 24 hours a day, seven days a week. Customers receive same-day ledger credit for deposits made until 8 p.m. US Eastern time each banking business day. Customers no longer have to physically transport checks to the bank. Instead, they can now scan paper checks at their place of business and electronically send the images to Wachovia over the Internet.
Wachovia's RDC solution is offered in both PC-installed and Internet- hosted (RDC Online) configurations. Both options offer benefits such as duplicate detection to display any previously-deposited items and patented technology that automatically re-orients the displayed image of any check that is scanned upside down or backward. In addition, RDC Online offers enhanced reporting of deposits, including image statements and multiple output options for reports, including XML, delimited files, PDF, and MS Excel. RDC Online also offers the additional advantage of automatic product enhancements.
"RDC has great momentum now for adoption by businesses of all sizes as they look to digital solutions to improve their internal efficiency and profitability. After three years, we are getting beyond the 'early adopter' phenomenon and are seeing mass market for this product," Madden said.
As one of the earliest innovators to develop and introduce RDC, Wachovia is a leader in this space. According to a recent study, "The State of Remote Deposit Capture: Entering the Mainstream," by industry analysts at Celent, Wachovia is among the top five U.S. banks to introduce this solution and which today collectively deploy the majority of installed clients.
The same study indicates that "checks will continue to be the prevailing method of B2B payments through 2010," creating an enormous market demand for RDC to enable businesses to more efficiently manage paper checks. The study points out that "the significant bulk of the RDC market opportunity still lies ahead."
Bob Meara, senior banking analyst for Celent said, "We estimate that nearly a quarter of a million business locations will adopt remote deposit capture by year-end 2007, an annual growth of 125 percent. And 2008 will see even stronger adoption as more deployers enter the market."
"Wachovia has long been committed to research and development and has led progress across image products and capabilities, including the RDC platform and technologies such as Image Cash Letter, Image Exchange, image delivery and image archival," Madden said. "We look at our customer's cash management needs holistically and advise on approaches that will benefit their unique environment. RDC is an example of one solution that can be used alone or in combination with complementary products such as Deposit Item Image for check depositing customers. Each customer's environment will demand a tailored approach to meet their needs."
About Wachovia Treasury Services
Wachovia's Treasury Services, the third-largest U.S. cash management provider, tailors solutions for businesses of all sizes, geographies and industries. The company offers liquidity management solutions and a comprehensive suite of global integrated payables and receivables solutions, including electronic check conversion, accounts receivable conversion, ACH services, image solutions, a national wholesale and retail lockbox network, as well as commercial card services. Greenwich Associates' 2006 Middle Market Survey ranks the bank No. 1 in Customer Service and Operations Accuracy among cash management banks. Phoenix-Hecht's bi-annual surveys consistently give Wachovia's Treasury Services products top grades across mid-market and large corporate markets for quality and customer satisfaction. Ernst and Young's 2006 U.S. Cash Management Survey ranks the bank number 3 in market share, and ranks the bank's information and access product, Wachovia Connection(r), No. 1 for the highest number of Information Reporting Internet Accounts.
About Wachovia
Wachovia Corporation is one of the nation's largest diversified financial services companies, with assets of $719.9 billion and market capitalization of $97.5 billion at June 30, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to 13 million household and business customers. Wachovia has 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $795 billion in client assets through approximately 10,800 registered representatives in 774 offices in 48 states and through service affiliate offices in Latin America. Online banking is available at http://www.wachovia.com; online brokerage products and services at http://www.wachoviasec.com; and investment products and services at http://www.evergreeninvestments.com. In May 2007, Wachovia announced an agreement to acquire A.G. Edwards, Inc., a financial services holding company whose primary subsidiary is the national investment firm of A.G. Edward & Sons, Inc. A.G. Edwards and its affiliates employ 6,623 financial consultants in 741 offices nationwide and two European locations in London and Geneva. This proposed acquisition is expected to be completed in the fourth quarter of 2007, pending the approval of A.G. Edwards shareholders and applicable regulatory approvals.
Source: Wachovia
August 20, 2007
Press release
CHARLOTTE, N.C., Aug. 20 - Wachovia's Treasury Services division today announced it has reached the $1 billion mark in Remote Deposit Capture (RDC) volumes processed in one day.
"Achieving this $1 billion milestone in RDC transactions processed in one day reflects the phenomenal growth rate for this solution. Businesses are demanding solutions to more efficiently manage payments made by paper check - from deposit preparation and transportation to record-keeping and reporting," said Lee Madden, senior vice president and team manager of Image Services for Wachovia's Treasury Services division. "Wachovia's RDC customer base has grown 40 percent domestically and 42 percent internationally across 25 countries since the beginning of the year, and volume of items processed has grown 30 percent over the same period."
Second Harvest Food Bank of Metrolina is an example of one organization using RDC to optimize its management of paper check payments.
"We run a tight ship, so the efficiencies we have gained from Remote Deposit Capture have made a real difference to our organization," said Akil Boston, Community Development coordinator for Second Harvest Food Bank of Metrolina, which is a not-for-profit organization striving to eliminate hunger across 19 North Carolina and South Carolina counties by collecting and distributing food. Approximately 80 percent of the organization's income comes from fundraising - including special events, grants, corporate donations, direct mail campaigns and other sources.
Boston added, "During peak periods, we used to spend many hours fully dedicated to processing check donations - from scanning on a flatbed scanner to input to our financial system and preparing for bank deposit and transport to bank. With RDC, we have experienced a 60 percent reduction in the amount of hours dedicated to processing checks during holiday periods. I now can manage the volumes of checks more efficiently and still get my day job done - really adding value to our organization."
RDC services allow businesses to make deposits from a desktop computer, accelerating cash flow by enabling deposits 24 hours a day, seven days a week. Customers receive same-day ledger credit for deposits made until 8 p.m. US Eastern time each banking business day. Customers no longer have to physically transport checks to the bank. Instead, they can now scan paper checks at their place of business and electronically send the images to Wachovia over the Internet.
Wachovia's RDC solution is offered in both PC-installed and Internet- hosted (RDC Online) configurations. Both options offer benefits such as duplicate detection to display any previously-deposited items and patented technology that automatically re-orients the displayed image of any check that is scanned upside down or backward. In addition, RDC Online offers enhanced reporting of deposits, including image statements and multiple output options for reports, including XML, delimited files, PDF, and MS Excel. RDC Online also offers the additional advantage of automatic product enhancements.
"RDC has great momentum now for adoption by businesses of all sizes as they look to digital solutions to improve their internal efficiency and profitability. After three years, we are getting beyond the 'early adopter' phenomenon and are seeing mass market for this product," Madden said.
As one of the earliest innovators to develop and introduce RDC, Wachovia is a leader in this space. According to a recent study, "The State of Remote Deposit Capture: Entering the Mainstream," by industry analysts at Celent, Wachovia is among the top five U.S. banks to introduce this solution and which today collectively deploy the majority of installed clients.
The same study indicates that "checks will continue to be the prevailing method of B2B payments through 2010," creating an enormous market demand for RDC to enable businesses to more efficiently manage paper checks. The study points out that "the significant bulk of the RDC market opportunity still lies ahead."
Bob Meara, senior banking analyst for Celent said, "We estimate that nearly a quarter of a million business locations will adopt remote deposit capture by year-end 2007, an annual growth of 125 percent. And 2008 will see even stronger adoption as more deployers enter the market."
"Wachovia has long been committed to research and development and has led progress across image products and capabilities, including the RDC platform and technologies such as Image Cash Letter, Image Exchange, image delivery and image archival," Madden said. "We look at our customer's cash management needs holistically and advise on approaches that will benefit their unique environment. RDC is an example of one solution that can be used alone or in combination with complementary products such as Deposit Item Image for check depositing customers. Each customer's environment will demand a tailored approach to meet their needs."
About Wachovia Treasury Services
Wachovia's Treasury Services, the third-largest U.S. cash management provider, tailors solutions for businesses of all sizes, geographies and industries. The company offers liquidity management solutions and a comprehensive suite of global integrated payables and receivables solutions, including electronic check conversion, accounts receivable conversion, ACH services, image solutions, a national wholesale and retail lockbox network, as well as commercial card services. Greenwich Associates' 2006 Middle Market Survey ranks the bank No. 1 in Customer Service and Operations Accuracy among cash management banks. Phoenix-Hecht's bi-annual surveys consistently give Wachovia's Treasury Services products top grades across mid-market and large corporate markets for quality and customer satisfaction. Ernst and Young's 2006 U.S. Cash Management Survey ranks the bank number 3 in market share, and ranks the bank's information and access product, Wachovia Connection(r), No. 1 for the highest number of Information Reporting Internet Accounts.
About Wachovia
Wachovia Corporation is one of the nation's largest diversified financial services companies, with assets of $719.9 billion and market capitalization of $97.5 billion at June 30, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to 13 million household and business customers. Wachovia has 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $795 billion in client assets through approximately 10,800 registered representatives in 774 offices in 48 states and through service affiliate offices in Latin America. Online banking is available at http://www.wachovia.com; online brokerage products and services at http://www.wachoviasec.com; and investment products and services at http://www.evergreeninvestments.com. In May 2007, Wachovia announced an agreement to acquire A.G. Edwards, Inc., a financial services holding company whose primary subsidiary is the national investment firm of A.G. Edward & Sons, Inc. A.G. Edwards and its affiliates employ 6,623 financial consultants in 741 offices nationwide and two European locations in London and Geneva. This proposed acquisition is expected to be completed in the fourth quarter of 2007, pending the approval of A.G. Edwards shareholders and applicable regulatory approvals.
Source: Wachovia
Lack of Professional Manpower Costs Germany 20 Billion Euros
Lack of Professional Manpower Costs Germany 20 Billion Euros Per Annum
A recently conducted study provides arguments for the discussion about the lack of professional manpower in Germany. The study reveals that close to 100,000 additional engineers and natural scientists each could be needed in Germany in 2014. The lack of professional manpower is estimated to cost Germany more than 20 billion Euros in 2007.
The bottleneck is said to affect mainly the sectors which "are most important for Germany's technological performance". Among these are mechanical engineering, the metal and electronics industries, the automotive industry and the corporate service industry. Young talent is said to be lacking particularly with technicians and master craftsmen as well as in mathematics, computer sciences and natural science and technology.
News Souce
A recently conducted study provides arguments for the discussion about the lack of professional manpower in Germany. The study reveals that close to 100,000 additional engineers and natural scientists each could be needed in Germany in 2014. The lack of professional manpower is estimated to cost Germany more than 20 billion Euros in 2007.
The bottleneck is said to affect mainly the sectors which "are most important for Germany's technological performance". Among these are mechanical engineering, the metal and electronics industries, the automotive industry and the corporate service industry. Young talent is said to be lacking particularly with technicians and master craftsmen as well as in mathematics, computer sciences and natural science and technology.
News Souce
Terrorist Attack Could Cost US Airlines $420 Billion
Terrorist Attack Could Cost Commercial Airlines $420 Billion
Another terrorist attack on the U.S. could cost the country's commercial aviation industry as much as $420 billion, a new study says.
Done by four scientists at the University of Southern California, the study appears in the current issue of the scientific journal Risk Analysis.
The authors based their estimates on assumptions that an attack would shut down the entire system for seven days and require a two-year recovery period.
News Source
Another terrorist attack on the U.S. could cost the country's commercial aviation industry as much as $420 billion, a new study says.
Done by four scientists at the University of Southern California, the study appears in the current issue of the scientific journal Risk Analysis.
The authors based their estimates on assumptions that an attack would shut down the entire system for seven days and require a two-year recovery period.
News Source
Harvard University Endowment Soars to $34.9 Billion
Harvard University Endowment Soars to $34.9 Billion
William Marra, Aug 2007
Harvard, already the richest university in the world, just increased its lead over the competition even more.
The Harvard endowment grew 23 percent during the fiscal year, which ended June 30, swelling to a new high of $34.9 billion, the Harvard Management Co., which oversees the university's endowment, said yesterday
35 billion $! Whew!
Read the full report from here, quite an interesting article, I knew these universities were rich, but I never even stopped to think how rich they could be...now I know
William Marra, Aug 2007
Harvard, already the richest university in the world, just increased its lead over the competition even more.
The Harvard endowment grew 23 percent during the fiscal year, which ended June 30, swelling to a new high of $34.9 billion, the Harvard Management Co., which oversees the university's endowment, said yesterday
35 billion $! Whew!
Read the full report from here, quite an interesting article, I knew these universities were rich, but I never even stopped to think how rich they could be...now I know
E-Learning Growing As Powerful Tool For Small Businesses
Four-Billion-Dollar E-Learning Industry Growing As Powerful Tool For Smaller Businesses
Electronic-learning, which is increasingly used as a productivity tool by small to medium-size businesses (SMBs), has become a $4 billion industry growing at 10-15 percent yearly, reported the Information Technology Solution Providers Alliance (ITSPA), a national, non-profit group that helps SMBs understand how technology and local technology providers can help them succeed.
E-learning involves a variety of technologies such as e-mails, Web-sites, CD-ROMs, DVDs, videoconferencing and "blogs" that supplement online classes.
For SMBs, e-learning eliminates costs associated with traditional training, which usually is conducted at off-site seminars that involve costly travel and lodging, as well as additional time away from the job
ead the full epot gfom hee @ Sales Mastes Wold
Electronic-learning, which is increasingly used as a productivity tool by small to medium-size businesses (SMBs), has become a $4 billion industry growing at 10-15 percent yearly, reported the Information Technology Solution Providers Alliance (ITSPA), a national, non-profit group that helps SMBs understand how technology and local technology providers can help them succeed.
E-learning involves a variety of technologies such as e-mails, Web-sites, CD-ROMs, DVDs, videoconferencing and "blogs" that supplement online classes.
For SMBs, e-learning eliminates costs associated with traditional training, which usually is conducted at off-site seminars that involve costly travel and lodging, as well as additional time away from the job
ead the full epot gfom hee @ Sales Mastes Wold
Music Piracy Costs over 10 Billion Dollar a Year - IPI
Music Piracy Costs over 10 Billion Dollar Price Tag
Illegally downloading the latest Top 40 hit is costing global economy an estimated $12.5 billion a year, according to a Tuesday report from the Institute for Policy Innovation (IPI). While there are some who might question the impartiality of IPI, there is no denying that billions of revenues are lost to the music and record companies as a result of folks for paying for that they are supposed to. The problem of course is whether what we are presently "supposed to be doing" is indeed the right thing to do.
Such difficult questions apart, if you have an idea that can stop music piracy, you know where to go to cash in on your billion dollar idea.
News Source
Illegally downloading the latest Top 40 hit is costing global economy an estimated $12.5 billion a year, according to a Tuesday report from the Institute for Policy Innovation (IPI). While there are some who might question the impartiality of IPI, there is no denying that billions of revenues are lost to the music and record companies as a result of folks for paying for that they are supposed to. The problem of course is whether what we are presently "supposed to be doing" is indeed the right thing to do.
Such difficult questions apart, if you have an idea that can stop music piracy, you know where to go to cash in on your billion dollar idea.
News Source
Friday, August 17, 2007
Brain Disorders Cost euro 3 Billion a Year in Ireland
Brain Disorders Cost euro 3 Billion a Year in Ireland
The total cost of brain disorders in Ireland per year is e3 billion, representing three per cent of gross national product, and a cost of e775 per citizen, new research has found.
The study was conducted by the European Brain Council (EBC) to estimate prevalence and cost of the 12 leading disorders encountered in neurology, neurosurgery, and psychiatry. The disorders selected for the study were: addiction, affective disorders, anxiety disorders, brain tumours, dementia, epilepsy, migraine and other headaches, multiple sclerosis, Parkinson’s disease, psychotic disorders, stroke and trauma.
Big problem, big opportunity
The total cost of brain disorders in Ireland per year is e3 billion, representing three per cent of gross national product, and a cost of e775 per citizen, new research has found.
The study was conducted by the European Brain Council (EBC) to estimate prevalence and cost of the 12 leading disorders encountered in neurology, neurosurgery, and psychiatry. The disorders selected for the study were: addiction, affective disorders, anxiety disorders, brain tumours, dementia, epilepsy, migraine and other headaches, multiple sclerosis, Parkinson’s disease, psychotic disorders, stroke and trauma.
Big problem, big opportunity
Thursday, August 16, 2007
Iran-Iraq Trade Amounts to US $ 2 Billion
Iran-Iraq Trade Amounts to US$2 Billion
Aug 2007, Al Bawaba
Iranian Ambassador to Baghdad Hassan Kazemi Qomi said that Iran-Iraq trade exchange amounts to US$2 billion of which 97 percent is Iran's exports to Iraq.
Kazemi Qomi told IRNA that trade cooperation between the two countries is turning into bilateral economic ties. According to him, the project on Baghdad power plant with a capacity of 300 megawatts is to be implemented under a US$150 million contract. Qomi added Iran is conducting feasibility studies on two pipeline projects in order to transfer 350,000 bpd of oil and derivatives from Basra to Abadan.
Interesting to note that Iran contributes 97% of the trade - hmmm...essentially Iran-Iraq trade is Iran trade to Iraq. Is this a pointer of things to come? Will Iraq become more and more of Iran?
These statistics should also make US realise how foolish it will be not to involve Iran when trying to figure out a way to make Iraq stable. Yeah, these two countries do not like each other, but which is better for the US? - Losing thousands of more priceless American soldiers' lives or losing face and admitting that Iran is possibly the most important power player in that region?
You figure.
Aug 2007, Al Bawaba
Iranian Ambassador to Baghdad Hassan Kazemi Qomi said that Iran-Iraq trade exchange amounts to US$2 billion of which 97 percent is Iran's exports to Iraq.
Kazemi Qomi told IRNA that trade cooperation between the two countries is turning into bilateral economic ties. According to him, the project on Baghdad power plant with a capacity of 300 megawatts is to be implemented under a US$150 million contract. Qomi added Iran is conducting feasibility studies on two pipeline projects in order to transfer 350,000 bpd of oil and derivatives from Basra to Abadan.
Interesting to note that Iran contributes 97% of the trade - hmmm...essentially Iran-Iraq trade is Iran trade to Iraq. Is this a pointer of things to come? Will Iraq become more and more of Iran?
These statistics should also make US realise how foolish it will be not to involve Iran when trying to figure out a way to make Iraq stable. Yeah, these two countries do not like each other, but which is better for the US? - Losing thousands of more priceless American soldiers' lives or losing face and admitting that Iran is possibly the most important power player in that region?
You figure.
Brazil's Petrobras to Invest Billions in Production, Exploration, Biofuels
Brazil's Petrobras to Invest Billions in Production, Exploration, Biofuels
August, 2007 - AP
Rio de Janeiro, Brazil: State-run oil company Petroleo Brasileiro SA, or Petrobras, said Tuesday it plans investments of US$112.4 billion in production, exploration and other activities in Brazil and around the world through 2012, part of a strategic plan to make it a Top 5 energy company in the world (rather than Latin America) by 2020.
US$65 billion of the 100 plus billion will go toward exploration and production. The bulk of its investments would be spent in Brazil, with some billions to be invested abroad.
Part of the non-production non-exploration investments will go into downstream and distribution, and into biofuels, where Petrobras wants to lead the Brazilian production of biodiesel.
Original news source: International Herald Tribune
August, 2007 - AP
Rio de Janeiro, Brazil: State-run oil company Petroleo Brasileiro SA, or Petrobras, said Tuesday it plans investments of US$112.4 billion in production, exploration and other activities in Brazil and around the world through 2012, part of a strategic plan to make it a Top 5 energy company in the world (rather than Latin America) by 2020.
US$65 billion of the 100 plus billion will go toward exploration and production. The bulk of its investments would be spent in Brazil, with some billions to be invested abroad.
Part of the non-production non-exploration investments will go into downstream and distribution, and into biofuels, where Petrobras wants to lead the Brazilian production of biodiesel.
Original news source: International Herald Tribune
Russian Plans to Build 4500 Aircraft - Pie in the Sky?
Russian Plans to Build 4500 Aircraft - Pie in the Sky?
Forbes, Aug 2007
Russian officials have reportedly pledged to invest over $250 billion in the country's flagging aviation industry. Analysts at Boeing and Airbus are not entirely convinced that this will be a major event. There are some independent analysts who even doubt the genuineness of the claim.
A top Russian official promised 187 billion euros of investments to build 4,500 planes over the next 18 years, a bold claim that signals a fresh boost to the country's civil aviation sector. Could this be a real turning point for the Russian aviation sector to try to take on EADS/Airbus and Boeing? Or is this a clever and zero-cost strategy to extract more from EADS & Boeing in future deals?
With Russians, you never know, but if their intention to invest this kind of money is indeed genuine, wow, there will be a plethora of opportunities for Russian entrepreneurs and aviation industry entrepreneurs worldwide.
Should keep a watch on this...
Original Forbes news source
Forbes, Aug 2007
Russian officials have reportedly pledged to invest over $250 billion in the country's flagging aviation industry. Analysts at Boeing and Airbus are not entirely convinced that this will be a major event. There are some independent analysts who even doubt the genuineness of the claim.
A top Russian official promised 187 billion euros of investments to build 4,500 planes over the next 18 years, a bold claim that signals a fresh boost to the country's civil aviation sector. Could this be a real turning point for the Russian aviation sector to try to take on EADS/Airbus and Boeing? Or is this a clever and zero-cost strategy to extract more from EADS & Boeing in future deals?
With Russians, you never know, but if their intention to invest this kind of money is indeed genuine, wow, there will be a plethora of opportunities for Russian entrepreneurs and aviation industry entrepreneurs worldwide.
Should keep a watch on this...
Original Forbes news source
US Subprime Woes Cost? $150 Billion - Calyon, Credit Agricole SA
U.S. Subprime Woes to Cost $150 Billion in Losses, Calyon Says
By Patricia Kuo, Bloomberg
Aug, 2007
The U.S. subprime mortgage crisis will cost credit investors about $150 billion in losses worldwide, according to Calyon, the investment banking unit of Credit Agricole SA.
Foreclosures may reach 20 percent of the $1.3 trillion of subprime mortgages outstanding, and under some assumptions, losses would be $130 billion. A further $20 billion could also be lost from the $1 trillion of outstanding Alt-A mortgages offered to borrowers with better credit.
The European Central Bank, the U.S. Federal Reserve and other central banks have injected more than $350 billion into money markets worldwide since Aug. 9.
Consumer lending standards have started to tighten in the mortgage sector and in other types of consumer loans such as auto loans and credit cards. Waning demand from investors for home loans has toppled more than 70 mortgage companies and half a dozen hedge funds in the U.S..
Big trouble! Is there a big business idea around here? I'm not well-versed with the finance/banking/investment sector to figure out any, but if there is big trouble, big opportunity cannot be far behind, can it?
Source: Bloomberg
By Patricia Kuo, Bloomberg
Aug, 2007
The U.S. subprime mortgage crisis will cost credit investors about $150 billion in losses worldwide, according to Calyon, the investment banking unit of Credit Agricole SA.
Foreclosures may reach 20 percent of the $1.3 trillion of subprime mortgages outstanding, and under some assumptions, losses would be $130 billion. A further $20 billion could also be lost from the $1 trillion of outstanding Alt-A mortgages offered to borrowers with better credit.
The European Central Bank, the U.S. Federal Reserve and other central banks have injected more than $350 billion into money markets worldwide since Aug. 9.
Consumer lending standards have started to tighten in the mortgage sector and in other types of consumer loans such as auto loans and credit cards. Waning demand from investors for home loans has toppled more than 70 mortgage companies and half a dozen hedge funds in the U.S..
Big trouble! Is there a big business idea around here? I'm not well-versed with the finance/banking/investment sector to figure out any, but if there is big trouble, big opportunity cannot be far behind, can it?
Source: Bloomberg
Nigeria: N4.8 Billion Frauds in Banks
Nigeria: N4.8 Billion Frauds in Banks
Vanguard (Lagos), August 2007
In spite of the recent banking sector consolidation, frauds remain a major challenge for the industry as the Nigeria Deposit Insurance Corporation (NDIC) has said there were 1,193 cases of frauds and forgeries in the banks, involving N4. 832 billion last year.
According to the corporation in its 2006 Annual Report, released to the media in Abuja, yesterday, out of the number of reported cases, 612 cases were successfully executed by the perpetrators, resulting in loses amounting to N2.768 billion.
Opportunit? Perhaps! The banking fraud detection software companies should probably explore if Nigerian Banks could be a prospective customer base, if this is such a major pain point in that country. Not saying they will make great customers overnight, but it might be a good idea for those tech companies to check out all the same.
Vanguard (Lagos), August 2007
In spite of the recent banking sector consolidation, frauds remain a major challenge for the industry as the Nigeria Deposit Insurance Corporation (NDIC) has said there were 1,193 cases of frauds and forgeries in the banks, involving N4. 832 billion last year.
According to the corporation in its 2006 Annual Report, released to the media in Abuja, yesterday, out of the number of reported cases, 612 cases were successfully executed by the perpetrators, resulting in loses amounting to N2.768 billion.
Opportunit? Perhaps! The banking fraud detection software companies should probably explore if Nigerian Banks could be a prospective customer base, if this is such a major pain point in that country. Not saying they will make great customers overnight, but it might be a good idea for those tech companies to check out all the same.
Computer Shut-down Costs Au Investors $36 Billion
Computer Shut-down Costs Au Investors $36 Billion
Aug 17, 2007
75 minutes of madness sparked by a computer shut-down sent the stock market into freefall yesterday, costing investors $36 billion.
The glitch caused investors to lose their nerve and sell shares in a wild day of trading, sending the All Ordinaries index plunging more than 5 per cent.
After the computers were powered back up by mid-afternoon, traders recovered their nerve with the index closing down 1.5 per cent at a cost to investors of $22 billion.
Is there an opportunity lurking behind this story? Who knows! Just imagine, 22 billion dollars for a problem that exists for just over an hour - surely entrepreneurs with a nose for new business ideas will come up with an opportunity from this!
Souce: Herald Sun
Aug 17, 2007
75 minutes of madness sparked by a computer shut-down sent the stock market into freefall yesterday, costing investors $36 billion.
The glitch caused investors to lose their nerve and sell shares in a wild day of trading, sending the All Ordinaries index plunging more than 5 per cent.
After the computers were powered back up by mid-afternoon, traders recovered their nerve with the index closing down 1.5 per cent at a cost to investors of $22 billion.
Is there an opportunity lurking behind this story? Who knows! Just imagine, 22 billion dollars for a problem that exists for just over an hour - surely entrepreneurs with a nose for new business ideas will come up with an opportunity from this!
Souce: Herald Sun
Saturday, March 10, 2007
Turkey has 25 names on Forbes billionaires list
Turkey has 25 names on Forbes billionaires list
Among the world's 946 billionaires, 25 are from Turkey, according to a recent survey by Forbes magazine. Hüsnü Özyeğin was ranked the world's 249th richest man with $3.5 billion.
Mehmet Emin Karamehmet followed him with $2.4 billion, the 390th-richest person. Third and fourth place in Turkey were Şevket Sabancı and Erol Sabancı with $2.1 billion.
REad the full report here from Today's Zaman
Among the world's 946 billionaires, 25 are from Turkey, according to a recent survey by Forbes magazine. Hüsnü Özyeğin was ranked the world's 249th richest man with $3.5 billion.
Mehmet Emin Karamehmet followed him with $2.4 billion, the 390th-richest person. Third and fourth place in Turkey were Şevket Sabancı and Erol Sabancı with $2.1 billion.
REad the full report here from Today's Zaman
The $12 billion US Entertainment and Games Software
1,000 Companies Operate in the $12 billion US Entertainment and Games Software
March 09, 2007
Research & Markets has announced the addition of the First Research report: Entertainment and Games Software - Industry Profile to their offering.
Summary
The US entertainment and games software industry includes about 1,000 companies with combined annual revenue of about $12 billion. Major companies include Electronic Arts, Activision, THQ, and Take Two Interactive, along with divisions of large integrated companies such as Microsoft, Sony, and Nintendo. This report provides more data and stats about this industry
Read the full press release here @ Business Wire
March 09, 2007
Research & Markets has announced the addition of the First Research report: Entertainment and Games Software - Industry Profile to their offering.
Summary
The US entertainment and games software industry includes about 1,000 companies with combined annual revenue of about $12 billion. Major companies include Electronic Arts, Activision, THQ, and Take Two Interactive, along with divisions of large integrated companies such as Microsoft, Sony, and Nintendo. This report provides more data and stats about this industry
Read the full press release here @ Business Wire
Tennessee, USA State lottery hits $3 billion ticket sales
State lottery hits $3 billion mark for ticket sales
The Tennessee state lottery has hit the $3 billion mark.
The three-year-old lottery has hit the $3 billion mark for gross ticket sales, lottery officials said in a press statement this morning.
Lottery funding benefits state education programs
Read the full news report here @ Tennessean
The Tennessee state lottery has hit the $3 billion mark.
The three-year-old lottery has hit the $3 billion mark for gross ticket sales, lottery officials said in a press statement this morning.
Lottery funding benefits state education programs
Read the full news report here @ Tennessean
South Africa To Invest 25 Billion Rand In Fighting HIV/AIDS
South Africa To Invest 25 Billion Rand In Fighting HIV/AIDS
March 9th 2007
South Africa announced Friday it would spend 25 billion rand (3.3 billion dollars) fighting HIV/AIDS over the next five years.
The government aims to half the number of new HIV infections by 50 per cent by 2011 and provide treatment to a least 80 per cent of HIV-positive people
See more from this news report @ Playfuls
March 9th 2007
South Africa announced Friday it would spend 25 billion rand (3.3 billion dollars) fighting HIV/AIDS over the next five years.
The government aims to half the number of new HIV infections by 50 per cent by 2011 and provide treatment to a least 80 per cent of HIV-positive people
See more from this news report @ Playfuls
FAA Plans $1 Billion Spending Boost By 2012
FAA Plans $1 Billion Spending Boost By 2012
Mar 9, 2007
By Adrian Schofield/Aviation Daily
FAA plans to increase its capital spending on modernization efforts by more than $1 billion a year by fiscal 2012, with the largest increase -- nearly $500 million -- slated for FY2009.
Spending is expected to be about $2.5 billion in FY2008 and $3.5 billion four years later. The bulk of the capital increase will be in projects supporting the Next Generation Air Transportation System (NextGen).
Read the full news report here @ Aviation Week
Mar 9, 2007
By Adrian Schofield/Aviation Daily
FAA plans to increase its capital spending on modernization efforts by more than $1 billion a year by fiscal 2012, with the largest increase -- nearly $500 million -- slated for FY2009.
Spending is expected to be about $2.5 billion in FY2008 and $3.5 billion four years later. The bulk of the capital increase will be in projects supporting the Next Generation Air Transportation System (NextGen).
Read the full news report here @ Aviation Week
Premium Video to Reach $277 Billion in 2010
Premium Video to Reach $277 Billion in 2010
Mar 12, 2007
Revenues from pay TV, mobile video, DVD, broadband video and theater/box office receipts will reach $277 billion by 2010, up from less than $200 billion in 2006, according to iSuppli Corporation.
Read the full report here @ eMarketer
Mar 12, 2007
Revenues from pay TV, mobile video, DVD, broadband video and theater/box office receipts will reach $277 billion by 2010, up from less than $200 billion in 2006, according to iSuppli Corporation.
Read the full report here @ eMarketer
Exxon sees oil, gas projects spending of $20 billion a year through 2011
Exxon sees spending of $20 billion a year through 2011
Mar 8, 2007
Exxon Mobil Corp. plans to spend about $20 billion annually through 2011 and start production at 25 major oil and gas projects over the next three years, the oil company said.
The projects will add about 1 million barrels of oil equivalent per day (BOEPD) to its base volumes when they reach their peak, Exxon Mobil said. The company was producing about 4.2 million BOEPD at the end of 2006.
Full news report here @ Reuters
Mar 8, 2007
Exxon Mobil Corp. plans to spend about $20 billion annually through 2011 and start production at 25 major oil and gas projects over the next three years, the oil company said.
The projects will add about 1 million barrels of oil equivalent per day (BOEPD) to its base volumes when they reach their peak, Exxon Mobil said. The company was producing about 4.2 million BOEPD at the end of 2006.
Full news report here @ Reuters
China-Pakistan trade crosses US$ 5 billion mark in 2006
Sino-Pak trade crosses US$ 5 billion mark in 2006
09 March 2007
The Sino-Pak trade crossed the US$ 5 billion mark in the year 2006. According to figures provided by China Customs to Pakistan Mission here, Pakistan's exports to China registered a 21 per cent increase from US$ 832 million in 2005 to over US$ 1 billion in 2006.
The China's export to Pakistan also increased by 24 per cent, from US$ 3.42 billion in 2005 to US$ 4.24 billion in 2006.
See full report here, from APP
09 March 2007
The Sino-Pak trade crossed the US$ 5 billion mark in the year 2006. According to figures provided by China Customs to Pakistan Mission here, Pakistan's exports to China registered a 21 per cent increase from US$ 832 million in 2005 to over US$ 1 billion in 2006.
The China's export to Pakistan also increased by 24 per cent, from US$ 3.42 billion in 2005 to US$ 4.24 billion in 2006.
See full report here, from APP
Alitalia says 2007 revenues from air traffic could be €4.7 billion
Alitalia says 2007 revenues from air traffic could be €4.7 billion
March 9, 2007
Alitalia said Friday that it sees 2007 revenues from air traffic at about €4.7 billion (US$6.18 billion) as the struggling airline tries to return to profitability.
Read more from this news report @ International Herald Tribune
March 9, 2007
Alitalia said Friday that it sees 2007 revenues from air traffic at about €4.7 billion (US$6.18 billion) as the struggling airline tries to return to profitability.
Read more from this news report @ International Herald Tribune
Singapore targets USD 18 billion Middle East automotive aftermarket
Singapore targets USD18 billion Middle East automotive aftermarket in a big way
Auto-sales across the GCC fuel the booming aftermarket
This year, 12 companies from Singapore will be taking part in Automobile Aftermarket Middle East (AAME). This is the first time such a large group from the city-state is participating in the event.
International vendors from across 15 countries are expected to showcase their latest products, designs and ideas during AAME, which will be held from March 12 to 14, 2007 at Dubai World Trade Centre. The exhibitors include industry leaders dealing in automobile parts, accessories, repairs and maintenance, garage equipment, tyres, batteries and performance systems etc.
Read the full news report here @ AME Info
Auto-sales across the GCC fuel the booming aftermarket
This year, 12 companies from Singapore will be taking part in Automobile Aftermarket Middle East (AAME). This is the first time such a large group from the city-state is participating in the event.
International vendors from across 15 countries are expected to showcase their latest products, designs and ideas during AAME, which will be held from March 12 to 14, 2007 at Dubai World Trade Centre. The exhibitors include industry leaders dealing in automobile parts, accessories, repairs and maintenance, garage equipment, tyres, batteries and performance systems etc.
Read the full news report here @ AME Info
$18.8 Billion Offer for UK Drug Store Alliance Boots from KKR, Pessina
KKR, Pessina Offer $18.8 Billion for Alliance Boots
By Neil Craven
March 9, 2007, Bloomberg
Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina offered 9.7 billion pounds ($18.8 billion) for Alliance Boots Plc, the largest U.K. drugstore chain, in what would be Europe's biggest buyout.
Alliance Boots was formed last year in a merger that combined 2,600 U.K. stores and a wholesale drug supplier to more than 125,000 pharmacies and hospitals.
See the full news report here @ Bloomberg
By Neil Craven
March 9, 2007, Bloomberg
Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina offered 9.7 billion pounds ($18.8 billion) for Alliance Boots Plc, the largest U.K. drugstore chain, in what would be Europe's biggest buyout.
Alliance Boots was formed last year in a merger that combined 2,600 U.K. stores and a wholesale drug supplier to more than 125,000 pharmacies and hospitals.
See the full news report here @ Bloomberg
Asbestos victims claim Asarco LLC owes $2.66 billion
Asbestos victims claim Asarco LLC owes $2.66 billion
By Steven Church
Bloomberg News
Tucson, Arizona | 10 Mar 2007
Tucson-based Asarco LLC owes asbestos victims as much as $2.66 billion, the victims' lawyers say.
The estimate, contained in a March 5 court filing, is disputed by Asarco, its parent company Asarco Inc. and general creditors.
Read the full report here @ AZStarNet
By Steven Church
Bloomberg News
Tucson, Arizona | 10 Mar 2007
Tucson-based Asarco LLC owes asbestos victims as much as $2.66 billion, the victims' lawyers say.
The estimate, contained in a March 5 court filing, is disputed by Asarco, its parent company Asarco Inc. and general creditors.
Read the full report here @ AZStarNet
Dubai rough diamond trade reaches US$3.93 billion in 2006
Dubai rough diamond trade reaches US$3.93 billion in 2006
The total trade in rough diamonds in Dubai reached US$3.93 billion in 2006, up from US$3.73 billion in 2005, according to the Dubai Diamond Exchange (DDE). Rough diamond imports to the emirate reached US$1.56 billion in 2006, while exports stood at US$2.37 billion for the same period.
In terms of carat value, a total of 84.6 million carats were traded in 2006, compared to 71.2 million in 2005.
Full news story from here @ Dubai City Guide
The total trade in rough diamonds in Dubai reached US$3.93 billion in 2006, up from US$3.73 billion in 2005, according to the Dubai Diamond Exchange (DDE). Rough diamond imports to the emirate reached US$1.56 billion in 2006, while exports stood at US$2.37 billion for the same period.
In terms of carat value, a total of 84.6 million carats were traded in 2006, compared to 71.2 million in 2005.
Full news story from here @ Dubai City Guide
GCC to invest $100 billion in power sector in Middle East
GCC to invest $100 billion in power sector
Khaleej Times - 10 Mar 2007
Spurred by a buoyant economy and population growth, the GCC countries will invest $100 billion to generate 100,000 MW of additional power over the next 10 years to meet demand.
The UAE will account for a major share of the new investment in power and water desalination projects, with Dubai alone poised to spend Dh50 billion to almost double its power generating capacity to 9,500 MW.
More from this MENAFN post
Khaleej Times - 10 Mar 2007
Spurred by a buoyant economy and population growth, the GCC countries will invest $100 billion to generate 100,000 MW of additional power over the next 10 years to meet demand.
The UAE will account for a major share of the new investment in power and water desalination projects, with Dubai alone poised to spend Dh50 billion to almost double its power generating capacity to 9,500 MW.
More from this MENAFN post
$220 billion expected in renewable energy markets
$220 billion expected in renewable markets
March 9, 2007 - A recent study released by California-based Clean Edge Inc. predicts, internationally, clean energy markets are poised to quadruple in the next decade.
The market is expected to grow from $55.4 billion in revenues in 2006 to more than $226.5 billion by 2016.
Read the full news story here @ UPI
March 9, 2007 - A recent study released by California-based Clean Edge Inc. predicts, internationally, clean energy markets are poised to quadruple in the next decade.
The market is expected to grow from $55.4 billion in revenues in 2006 to more than $226.5 billion by 2016.
Read the full news story here @ UPI
India overtakes Japan in number of billionaires
India overtakes Japan in number of billionaires
Indians topped the list of richest people in Asia with 36 billionaires, of whom Forbes placed Lakshmi Mittal, Mukesh Ambani and Anil Ambani in the ultra elite global top 20, reports PTI.
The Forbes list for 2007 said India ended Japan’s 20-year reign as home to Asia’s most number of richest people. The land of the rising sun now has 24 billionaires with a combined net worth of 64 billion dollars.
More from this news report @ Assam Tribune
Indians topped the list of richest people in Asia with 36 billionaires, of whom Forbes placed Lakshmi Mittal, Mukesh Ambani and Anil Ambani in the ultra elite global top 20, reports PTI.
The Forbes list for 2007 said India ended Japan’s 20-year reign as home to Asia’s most number of richest people. The land of the rising sun now has 24 billionaires with a combined net worth of 64 billion dollars.
More from this news report @ Assam Tribune
Bank Of America Commits $20 Billion To Renewable Energy
Bank Of America Commits $20 Billion To Renewable Energy
AER Staff, 08 March 2007
Bank of America Corp. has introduced a $20 billion, 10-year initiative that encourages the development of environmentally sustainable business practices through lending, investing, philanthropy, and the creation of new products and services.
According to the company, it will commit $18 billion in lending, advice and market creation to help commercial clients finance the use and production of new products, services and technologies.
See more from this news report at Alternative Energy Retailer
AER Staff, 08 March 2007
Bank of America Corp. has introduced a $20 billion, 10-year initiative that encourages the development of environmentally sustainable business practices through lending, investing, philanthropy, and the creation of new products and services.
According to the company, it will commit $18 billion in lending, advice and market creation to help commercial clients finance the use and production of new products, services and technologies.
See more from this news report at Alternative Energy Retailer
Philips to sell stake in Taiwan's TSMC for 8.5 Billion us $
Philips to sell stake in Taiwan's TSMC, worth $8.5-billion (U.S.)
Associated Press
AMSTERDAM — Royal Philips Electronics NV, Europe's largest consumer electronics maker, said it plans to sell its 16.2-per-cent stake in Taiwan Semiconductor Manufacturing Co. over the next few years. The stake is valued at around $8.5-billion.
Taiwan Semiconductor Manufacturing is the world's biggest contract chip maker by revenue, and supplies chips for mobile phones, digital cameras and computers.
Full story here, from The Globe & Mail
Associated Press
AMSTERDAM — Royal Philips Electronics NV, Europe's largest consumer electronics maker, said it plans to sell its 16.2-per-cent stake in Taiwan Semiconductor Manufacturing Co. over the next few years. The stake is valued at around $8.5-billion.
Taiwan Semiconductor Manufacturing is the world's biggest contract chip maker by revenue, and supplies chips for mobile phones, digital cameras and computers.
Full story here, from The Globe & Mail
Friday, March 9, 2007
Europe Auto Major Volkswagen 4Q Profit Up to $2.03 Billion
Volkswagen 4Q Profit Up to $2.03 Billion
March 9, 2007
Volkswagen AG, Europe's largest automaker, said Friday that fourth-quarter profit rose sharply on strong vehicle sales.
Profit after tax in the final quarter of 2006 rose to euro1.54 billion (US$2.03 billion), up from euro4.35 million in the same period the previous year, the Wolfsburg, Germany-based company said in a statement
Read the full news report from the Houston Chronicle
March 9, 2007
Volkswagen AG, Europe's largest automaker, said Friday that fourth-quarter profit rose sharply on strong vehicle sales.
Profit after tax in the final quarter of 2006 rose to euro1.54 billion (US$2.03 billion), up from euro4.35 million in the same period the previous year, the Wolfsburg, Germany-based company said in a statement
Read the full news report from the Houston Chronicle
EADS loses $1.01 billion in the 2006 fourth quarter
EADS loses $1.01 billion in the fourth quarter
Airbus suffered its worst year since it began in 1970, as delays, higher expenses and a weak dollar dragged down fourth-quarter and 2006 net profit for its parent, EADS NV.
Co-chief executive Louis Gallois pointed to the multiple and major delays to the A380 superjumbo that caused EADS to lose $1.01 billion in the October-December period. He also said that things would only get worse before they get better.
Airbus suffered its worst year since it began in 1970, as delays, higher expenses and a weak dollar dragged down fourth-quarter and 2006 net profit for its parent, EADS NV.
Co-chief executive Louis Gallois pointed to the multiple and major delays to the A380 superjumbo that caused EADS to lose $1.01 billion in the October-December period. He also said that things would only get worse before they get better.
Sunday, February 11, 2007
Multi-billion Dollar Forex Reserves Questions
Multi-billion Dollar Forex Reserves Questions - Foreign Exchange Asset Management
While there are many countries which would bend over backwards to have enough a few billion dollars in forex kitties, China has an unusual problem - it has over a trillion dollars in its foreign exhange reserves and is keen to find ways to invest this money in a more efficient manner. Reports suggest that if China were to continue being the factory of the world, in a few years, its forex reserves could double!
Until now, China has been investing most of its reserves in low-yielding instruments and securities - such as the US treasuries and the G-7 countries treasuries, which do not offer much better than the US treasuries!
It is understood that a few key financial figures within the Chinese establishment have started exploring other ways of managing and investing these funds - in order to obtain higher returns, as well as to use them to improve conditions for the people in the home market. Add to this the fact that US $ has been depreciating against others such as the Euro.
Just to give an idea of what a different forex assets management could mean: The Singapore Government's Investment Corporation - which manages the forex assets of the country - recently published numbers that stated that Singapore has earned a yield of 9.5% over the last 25 years. In contrast, Indian forex assets, which one can assume are invested in low yielding country treasuries, got an annual return of 3.1% . Given the current Indian reserves of about 170 billion US $, this would mean that India can earn an additional 10 billion US$ every year by a more efficient management. And just imagine how much more China could earn, with forex assets over five times that for India! And this is money for jam, well, OK, not exactly, there are a lot of nitties and gritties, but both countries can do with an additional 10 billion - 25 billion $, what do you say?
While there are many countries which would bend over backwards to have enough a few billion dollars in forex kitties, China has an unusual problem - it has over a trillion dollars in its foreign exhange reserves and is keen to find ways to invest this money in a more efficient manner. Reports suggest that if China were to continue being the factory of the world, in a few years, its forex reserves could double!
Until now, China has been investing most of its reserves in low-yielding instruments and securities - such as the US treasuries and the G-7 countries treasuries, which do not offer much better than the US treasuries!
It is understood that a few key financial figures within the Chinese establishment have started exploring other ways of managing and investing these funds - in order to obtain higher returns, as well as to use them to improve conditions for the people in the home market. Add to this the fact that US $ has been depreciating against others such as the Euro.
Just to give an idea of what a different forex assets management could mean: The Singapore Government's Investment Corporation - which manages the forex assets of the country - recently published numbers that stated that Singapore has earned a yield of 9.5% over the last 25 years. In contrast, Indian forex assets, which one can assume are invested in low yielding country treasuries, got an annual return of 3.1% . Given the current Indian reserves of about 170 billion US $, this would mean that India can earn an additional 10 billion US$ every year by a more efficient management. And just imagine how much more China could earn, with forex assets over five times that for India! And this is money for jam, well, OK, not exactly, there are a lot of nitties and gritties, but both countries can do with an additional 10 billion - 25 billion $, what do you say?
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