‘Shopping Capital Of The Middle East’

At the ‘shopping capital of the middle east’, such is the success of the mother lode shopping festival held in the first half of the year that there is now held a hot season counterpart – the Dubai Summer Surprises 2006 – currently on until September 1. Then there were even the 2-month shopping extravaganza in Thailand until last month and the Egypt Tourism and Shopping Festival 2006 in the Land of the Nile closing on the 20th of August, which again had all the trappings to bait the shoppers’ lot! Looks like there’s enough for everyone… go ahead, haggle!

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Source:- IIPM Editorial

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MAXIMUM CITY- IIPM News

Here’s some news for those city slickers: Mumbai and Delhi are among the world’s least expensive cities. According to a study (‘Price and Earnings 2006’ report) conducted by Swiss banking major and the world’s largest wealth manager UBS across 71 cities, Mumbai is the second least expensive city (up one position from its 71st position in the 2005 ranking), while Delhi is a tad expensive as the fourth least expensive. And the gross earnings in Indian cities are less than 10 per cent of the wages earned in top-ranked cities. This clearly means that whatever one manages to save is not even enough to splurge on other activities like, say, shopping! Some more bad news. Delhi has been ranked right at the bottom of the earnings chart with gross hourly average wage of $ 6.1, as against Copenhagen’s $ 118.2 (gross earnings are the highest in Scandinavia). Among the other cities covered in the study globally, Oslo, London, Copenhagen, Zurich and Tokyo are the five most expensive cities (excluding the cost of housing). Living costs are highest in London & New York if rents are included.

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Source:- IIPM Editorial & IIPM Publication

Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative

Did we manage to jump the Rubicon?

Poland outlook

Overview: Polish economy

The GDP of Poland has been constantly growing at a much faster pace than the Euro area. Poland, which is a $300 billion economy expanded by 3.2% in 2005, as against Euro area’s 1.3%. The economy is expected to remain upbeat. Total domestic demand is expected to expand by 4.4% in 2006, as against 2.1% in 2005. Unemployment is expected to fall in 2006, but still remains a cause of concern.

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Source:- IIPM Editorial, 2006

Editor:- Prof. Arindam chaudhuri

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RISE OF THE OLD-AGE WARRIOR

“There is nothing impossible to him who will try,” is the adage that defines the souls of all glorious warriors, primitive, mythical, historic or contemporary. The Flintstones would have nonchalantly dismissed this adage into one exclamation, “Yabadabadooo...” That, perhaps, has been the exact thought process, which has driven Ramalinga Raju’s brilliant leadership of Satyam in the past few years. While leading corporations like TCS, Infosys, Wipro harped on the importance of visionary movements beyond traditional practices, Raju got the drift straight and simple. If Satyam had to transform itself, in fact, if Satyam had to survive, it had to focus on sticking to practices where it had the maximum competencies, even if this meant foregoing investments in business spaces that were touted to have humungous future opportunities. Flintstone’s favourite adage, perhaps again, might be the truest vision statement for CEO Ramalinga Raju, “A bird in hand is worth...”

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Source:- IIPM Editorial, 2006

Editor:- Prof. Arindam chaudhuri

Companies offering broadband are in for good times, provided they balance their margins & volumes

With the IT and telecom sector in the country blazing big guns, and the Internet officially spearheading the PC revolution, it was but a matter of time before broadband would measure up. While the present clearly belongs to India’s soft ware services giants (who have again delivered blockbuster results for the quarter ending June 2006), the next wave will clearly be led by broadband services. States Vinnie Mehta, Executive Director, Manufacturers Association of Information Technology (MAIT), “A wholesome strategy by the IT Industry & the Government to improve IT penetration through aggressive PC pricing, higher bandwidth connectivity and making available IT applications and tools in local languages has started to yield rich dividends.”

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Source:- IIPM Editorial, 2006

Editor:- Prof. Arindam Chaudhuri

How long will the Black Gold last?

Overview: Saudi Arabian economy

One of the major economies in the middle- east region and also a member of OPEC, Saudi Arabia, which expanded by 7.7% in 2003 – highest in 15 years – grew by 6.5% in 2005. The petroleum, oil and lubricants sector accounts for 75% of budget revenues, 45% of GDP, and 90% of export earnings. Soaring oil prices have helped countries in the entire middle-east region to post huge surpluses.

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Source:- IIPM Editorial, 2006

Editor:- Prof. Arindam Chaudhuri

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Experience ‘Express Zindagi’ with LIC

In a landmark announcement, Life Insurance Corporation (LIC), the insurance behemoth of the country, has decided to invest Rs.100 billion in the equities market. Predominantly, the corporation invests in the shares of blue-chip companies. Not at all perturbed by the bear phase that is being experienced by the market; LIC is also gearing up to launch two new insurance products this year. While one of these products would be a unit-linked scheme, the other would be a traditional product. Recently, to mark its golden jubilee year, LIC had started an exhibition on a train, Zindagi Express, that crossed 40 cities across the country. The exhibition was replete with interesting documents and models of historical significance.


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Source:- IIPM Editorial, 2006.

Editor:- Prof. Arindam Chaudhuri