Forex Signals Forex Trading Signals, Index Trading Signals, Forex News, Currency Trading News & Analysis

March 30, 2015

The state of the financial labour market

Filed under: Forex Strategies — Tags: , , , — admin @ 4:43 pm

As many risk takers are likely to be concerned with locking down positions and profits into month and quarter end, Macro Man thought he would address an issue that’s near and dear to his heart, the state of the labour market for market professionals.

He spent a few minutes sifting through efinancialcareers, an online job portal that pretty much does what it says on the tin.  First, he looked at openings for portfolio managers:

As you can see, the query generated 290 results, globally.   OK, what about looking for traders?

Hmmm…507 results, but as you can see, a lot of the results are for quant traders because hey, HFT front-running is perfectly legal and what could ever go wrong?  If you sometimes feel like trading these days is like living in The Matrix, you just might be on to something.   A search for C++ yields a whopping 1434 results.

If you apply for one of these roles and are contacted by an “Agent Smith”, watch out!  On a slightly more serious note, perhaps the best piece of advice that Macro Man can give young readers interested in a financial career can be summed up in 3 words.  Learn.  To.  Code.

Even more than coding, however, there is one area of finance that is in a roaring, runaway bull market with no end in sight.  Some may call it a bubble, but as you know the authorities always feel uncomfortable identifying bubbles in real time.   Indeed, listen to Yellen’s Congressional testimony and you can see certain members cheering lustily for the trend to continue, nay accelerate.

Step forward Compliance officers, for whom there are a stunning 3093 vacancies!

There you have it folks, financial markets in 2015- where demand for compliance folk outnumbers that for portfolio managers by more than 10-to-1.  The irony, of course, is that in their zeal against too-big-to-fail on the banking side, the authorities have significantly raised the AUM bar for what constitutes a viable business proposition on the fund side.  As a result, in some sectors at least assets have concentrated in huge funds with the built-in compliance infrastructure to satisfy the rampant bull market.

One can only hope that come the next market crisis, they do not prove to be too big to fail.

January 16, 2015

How To Trade In Forex Market Watch

Filed under: Currency Charts — Tags: , , , — admin @ 2:44 am

Trade the right way, and entering the stock market will doubtless be the best and most profitable investment you will ever make. Even into the millions. But trade stocks the wrong way, and you will simply be giving your hard earned cash away. Read on to see the right way to trade, top 5 must know tips for new comers, and deadly traps to watch out for.

1. Forget your gut feeling. Too many new traders are finding a stock they think will be good, invest too much with it, and wave it all goodbye. Your gut feeling is no substitute for coaching from a professional.

2. Careful who you listen to. Most market analysts are outright guessing. And don’t fall for all this ‘holy grail’ nonsense. Many traders waste the best years of their life searching for it when it really doesn’t exist.

3. Start small. Invest sums like to 0 to start out with. This can save you tons of money while you’re gaining valuable experience for big trades in the future.

4. Don’t invest what you can’t afford to lose. Though you may be exited, this isn’t the time for rushing in blindly. The recent stock market fall shouldn’t be anything to scare you, but you will want to trade with only spare money.

5. Get a good trading system, and stick with it. Amature traders waste a ton of time and money hopping from method to method. You need the patience to persist with a system, instead of leaving after the first few losses like most losing traders.

Trading the stock market will have it’s ups and downs, but with a solid trading system, good money management principles, and the patience to research and stick at it, you could eventually be trading by the millions. A million’s less than it used to be, it’s not that far out of reach with an ideal trading system. Happens every day.

Low on patience? Shortcut to the profit stage.

Impatience can be good, if it drives you in the right direction. Believe it or not, this is a legitimate choice. Some new traders have saved loads of time, and made loads of money by simply duplicating the success of someone else. Newbie traders have shaved years off the learning stage by taking full advantage of someone elses experience.

This is highly recommended, depending on who you listen to. There’s a lot of junk out there – if it sounds too good to be true, it’s usually best to walk away. But not in every case. Choose an expert with proof such as examples and testimonials, and checkout and free trial or preview first.

You can’t afford all this trial and error like most amature traders. Who would want to start from scratch and figure it all out on their own, when you can have all the trading tools and resources handed to you from one who knows, and is already making millions from the stock market.

See just how easy it can be to duplicate someone else’s success, and download a free consumer guide – 4 simple steps successful traders know that you don’t. This is an excellent tool for traders of all experience levels. Even complete newbies.



how to trade in forex market watch

December 17, 2014

How the Market Stole Christmas!

Filed under: Forex Strategies — Tags: , , — admin @ 4:43 pm

A trader’s lament, with apologies to Dr. Seuss:


You’re a mean one, Mr. Market
You really are a heel
It is your common practice
Bloody awful’s how we feel
Mr. Market
You make the whole strasse trade like an imbecile!
You’re a monster, Mr. Market
My book’s a giant hole
I added dollar/ruble
Any my money you then stole, Mr. Market.
Why didn’t I trade with a
Czech, Turk, Hungarian or Pole?
You’re a vile one, Mr. Market
Lower oil’s good for stocks
But now energy high yield’s
Cracking underneath your shocks
Mr. Market
Given the way you make me trade I feel
Dumb as a big ol’ box of rocks!
You’re a foul one, Mr. Market
You’re as nasty as a skunk.
My payroll buy of dollar/yen
Is now a bunch of junk,
Mr. Market.
The three words that best describe you
Are as follows, and I quote
Stink!
Stank!
Stunk!
You’re a rotter
Mr. Market.
You’re the king of stupid grinds
Buy and hold just seems much better
Than trying to use our minds
Mr. Market
My book is an appalling dump heap
Overflowing with the most disgraceful
Assortment of deplorable rubbish imaginable
Mushed and crushed in this unwind.
You nauseate me, Mr. Market
Central banks all had my back
ECB is nice and easy and
Abe’s selling market crack
Mr Market!
Even if the Fed’s just “patient”
Spooz must rally hard
To get me on track!
Will the Market make away with everyone’s holiday goodies, or can someone, anyone bring joy to the Whos of Whoville?
Tune in this afternoon to find out!
 

June 16, 2014

This is your market

Filed under: Forex Strategies — Tags: , — admin @ 4:42 pm

Is there anyone out there who still doesn’t understand what artificially depressing volatility does?   OK.  Last time.

 This is your market volumes when you promise low rates forever:

This is your market volumes on talk of a possible rate hike.

Any questions?

April 22, 2014

A Market Vignette

Filed under: Forex Strategies — Tags: , — admin @ 4:44 pm

In the absence of anything interesting to say about a drearily dull start to the week, Macro Man thought he would share a small vignette of what the market was like two decades ago.

Macro Man’s very first job upon graduation from university was in Chicago, working for a very well-known option market-making firm.  Having acquired an interest in foreign exchange while studying abroad during the ’92 ERM crisis, he was assigned to work at the currency options pit of the Chicago Mercantile Exchange as a trading assistant.

Before arriving in Chicago in July of 1993, he wasn’t really sure what to expect.  Having attended a liberal arts university, he had taken no finance courses; as such, the only options knowledge he possessed was what he’d crammed for the interview to get the job in the first place.

From what he could tell, however, it was pretty complicated stuff.  The firm he was joining had a reputation for being staffed with really smart people (naturally- they’d hired Macro Man!), so he assumed that the business generally was populated by the types of guys who broke the bell curve in collegiate math courses.  After all, the chaps on TV who talked about the stock market all sounded pretty clever, and anyone who’d read Liars Poker knew that they were bottom of the intellectual heap, right?

The job, as it was explained to Macro Man during the offer, was to assist the firm’s option traders in the CME pits while slowly acquiring sufficient practical and classroom knowledge to eventually become a trader himself.  All in all, it promised to be intellectually stimulating while serving up the odd jolt of adrenaline when things got a little crazy.

Upon starting the job, your author found that (unsurprisingly, in retrospect) the quotidian aspects of the job were somewhat more mundane than anticipated.  Perhaps he should have been warned when he found that all the traders referred to his yellow-coated brethren as mere “clerks” rather than the more elevated “trading assistants,” though given that most of his early-career tasks were indeed clerical, the shoe fit (and he wore it.)

What was really shocking, however, is when he actually went to the exchange floor to work during trading hours.  The roar of the floor, particularly during a data release, was startling but hardly surprising.   No,what really opened his eyes was the people.

Contrary to expectation, the floor was not primarily populated calculus curve-breakers.   Oh sure, some of the options guys were really smart, both in an academic and street sense.  The futures traders and brokers, on the other hand, while hard workers and good at their jobs, were more notable for the size of their beer guts than their IQs.   These were salt-of-the-earth guys, many of whom might be digging ditches if they weren’t on the floor.

There is perhaps no other job in the world where flatulence is as much of an asset as it is on an exchange floor.  Have you been squeezed out of a good location in the pit?  Drop a little “bomb” and the crowd will part like the Red Sea, allowing you to occupy your preferred spot.  Certain traders developed a knack for letting fly right before a large order came into the pit, thus ensuring that they could occupy the prime real estate in front of the broker and do a large portion of the trade.

In  Macro Man’s second week of work, the senior trader he was clerking for got into a fistfight with a rival trader.   This was not a typical baseball fight with lots of milling around and little actual violence; this was a proper punch up.   Macro Man happened to be on the edge of the pit to pick up some trading cards from said trader (nicknamed ‘Johnny Ya-ya’) and saw the whole thing unfold before him.   He instinctively grabbed Ya-ya’s opponent but was ordered instantly to let him go and leave the pit.

After the fracas broke up, Ya-ya stormed off of the trading floor.   With one brief exception a few months later, he never returned, having transitioned to an “upstairs” job trading OTC options.

One aspect of the floor that Macro Man remembers fondly was the prevalence of ridiculous bets.   Traders, clerks, and  brokers would have a flutter on everything, from the first day of snow (it was Halloween 1993, if memory serves) to the height of the trading floor (architectural plans were consulted) to who would win a fight between a killer whale and a great white shark (Macro Man rang the Chicago aquarium to get an expert answer on this one, perhaps inspiring this show.)

There were three bets, however, that still resonate with your author to this day.   The superstitious might even suggest that they offered foreshadowing of the financial crisis and its aftermath.

A foot of cockroaches.   There was a broker in the Deutsche mark option pit called Chris who was a bit different from a lot of the guys- he seemed older and he wore a pony tail, which wasn’t a common barnet on the CME in the early 90’s.  Oh, and he claimed he could eat a foot of cockroaches (i.e., twelve inches’ worth of cockroaches laid end to end.)

Naturally, this inspired a modicum of skepticism from other denizens of the DEM pit, so a few friendly wagers were offered…and then a few more….and a few more.  Brokers bet with brokers, traders with traders, clerks with clerks.  Eventually, after work one day, the cockroaches were somehow procured, laid end to end…..and duly consumed.  Bettors on Chris were paid out, and Macro Man learned very early on that not only is there never only one cockroach, but that even the most foul of (financial) fare will usually find a consumer.

The NCAA tournament.  Betting on the NCAA college basketball tournament was rife, unsurprisingly.   Unlike the relative tedium of filling in brackets and tracking overall accuracy, NCAA betting CME-style was devastatingly simple.    The winner of the tourney was worth $100; everyone else was worth nothing.  Markets were made in each of the teams, and you were obligated to keep track of which teams you bought and sold, in which quantity, with whom, on the free trading cards that that were a staple of the CME.

This was all well and good, provided that one sized their positions correctly and managed risk.   In many ways, this sort of trading taught neophytes like your author as much about risk management as his professional activities, given that it was our own wealth on the line.  Unfortunately, not everyone learned his lesson.   A clerk for a rival trading company owned by a French bank fared rather poorly, losing some $15,000 in the process to all manner of floor personnel.  (Remember, this was more than two decades ago, so the sum was almost certainly in excess of half of his annual salary.)

This proved to be quite a thorny problem, as the kid couldn’t pay, which irritated his creditors rather considerably.   Eventually, a compromise of sorts was reached:  the clerk was sacked and the bank made good on his debts to avoid the stigma of having stitched up the rest of the floor.   This was quite an early indoctrination into the concept of “if you lose enough money, eventually somebody will bail you out for ‘the common good.'”

Fifty Reese’s Cups.    On the wall of the exchange, surrounding every pit, there were rows of little boxes with phone turrets where clerks would accept orders from “upstairs” and signal them into the pit.   There was a guy who assisted one of these phone clerks who was big.  Not Big Ten football lineman big, Augustus Gloop big.   As memory serves, he took a bit of ribbing about his size, but was generally good-natured about it.

Somehow, one day the phone guys started talking about Reese’s peanut butter cups, and how many one could eat at a single sitting.   One thing led to another, and the gauntlet was thrown down as to whether Augustus could eat 50 Reese’s cups.   Call it a financial version of Cool Hand Luke.

As in the film, the entire proposition inspired a raft of betting, except in hundreds and thousands rather than twos and tens.   Consensus was probably tilted very slightly in Augustus’s favour until someone thought to ask him if he liked Reese’s cups.   “They’re my favourite,” he replied with a glint in his eye, thereby spurring a frenzy of betting on “Yes.”

As with the cockroaches, the Reese’s Bacchanalia was scheduled for after the close on some appointed day.   In the run-up to the eat-a-thon market anticipation built to a fever pitch, and even those benighted souls with nothing riding on it were eager to see if Augustus could emulate Paul Newman.

Alas, it was not to be.  On the morning of the appointed day, the news rippled through the trading floor: the bet was off.   Apparently Augustus, in a rare fit of concern over the state of his well-being, had taken the outlandish step of consulting a physician about the proceedings.   This worthy individual had warned him of the potentially disastrous consequences of scarfing that much candy in one sitting (presumably hyperglycemia.) 

The moral of the story, of course, is that it is possible to have too much of a good thing, even a favourite sweet.   Readers will no doubt have deduced by now where Macro Man stands on this issue vis-a-vis the raft of easing measures served up by Willy Wonka the Fed and BOE, among others.

‘Tis a pity that the professors who run monetary policy these days never spent any time on the Merc floor.   Perhaps Chris, the wayward clerk, and Augustus could have taught them a thing or two…

April 4, 2014

Trading Sprouts Farmers Market Jobs

Filed under: Currency Charts — Tags: , , , , — admin @ 2:45 am

The Indian agriculture sector has witnessed a considerable decline in the use of human and animal power for agricultural activities in recent years. This has paved a way for a range of agricultural equipments that have been introduced in the market. For instance, land development, tillage and seedbed preparation which earlier used the power of animal driven plough and blade harrow now utilize the power of tractor through tractor driven equipments. Similarly, the irrigation of farmland has become widely automated by the use of diesel and electric motors and pumps. In FY2011, the agricultural equipment market of India was estimated at 812,269 units by sales which grew at a CAGR of 12.3% during FY2006-FY2011. The high demand for key segments such as tractors, power tillers, threshers, combine harvesters and rotavators have been majorly responsible in driving this growth.

The easy availability of credit from banking institutions as well as NBFCs in the country has encouraged Indian farmers to buy agricultural machinery on credit. The government schemes such as NREGA have led to a huge shortage of the labor for agricultural activities and have also increased labor cost. Moreover, other schemes by government such as Macro Management of Agriculture (MMA) which provide monetary assistance of upto 50% to the farmers for the purchase of agricultural equipments has given considerable thrust to the farm mechanization process in the country according to the research report India Agricultural Equipment Market Outlook to 2017 – High Labor Scarcity and Government Subsidies Driving Agricultural Mechanization by Ken Research.

The agricultural equipment market in India is expected to attain a high growth trajectory on account of continued shrinkage of farm labor due to the industrialization in the country and increased focus of government on agricultural equipments to enhance the food grain output so as to meet the growing food demand with the population.

The report provides detailed overview on the agricultural equipment market in the India and helps reader to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, farm equipment manufacturing and marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

For more information on the industry research report please refer to the below mentioned link:
http://kenresearch.com/report.php?A=334&T=D&S=104


trading sprouts farmers market jobs

March 16, 2014

What Is Foreign Exchange Market Xperia X10

Filed under: Currency Charts — Tags: , , , — admin @ 2:44 am

Sony Ericsson did not have a particularly impressive 2009. But the Japanese-Swedish mobile phone maker duo seems to have more than made up this year with the tremendous succes of Sony Ericsson Xperia X10 and Sonty Ericsson Vivaz. It is particularly so in the case of Sony Ericsson Xperia X10 that is a hard to beat smartphone.

Sony Ericsson has packed in so much of serious hardware and software features within the Sony Ericsson Xperia X10 that it does seem like other smarpthones are going to have a touch time competing with it. It is no doubt one of the most powerful smartphones going around in the UK market currently.The touchscreen allows for very high resolution and colour support as well.

This fantastic handset from Sony Ericsson is just looks and viewing. Rather it allows for one of the fastest and most efficient mobile phone internet experience that you can come across. The device further allows for a simple drag and drop option that is there for websites such as Google, GoogleMail and YouTube.

The Sony Ericsson Xperia X10 then goes on to deliver big time with its stunning 8.1 mega pixel camera device. Fitted with a software called Picassa, the camea device that this smartphone offfers can make taking photographs and sharing them seem like the easiest thing in the world to attempt. Then, you can relax and listen to some good music played by its media players that is also great in terms of features.

You can also have a great time doing social networking what with Facebook, Twitter, etc all just a few button pushes away. Your updates are all displayed neatly. Despite carrying all this hardware and software the Sony Ericsson Xperia X10 comes across as a rather compact mobile phone handset that does not feel heavy at all in your palm and sits compactly there.

The network carriers have all floated adequate numbers of Sony Ericsson Xperia X10 deals to interest the users. You also have sufficinet Sony Ericsson Xperia X10 contract deals to choose from. A few of these contract mobile phone deals selling this smartphone gives the handset for free against a two year 30 per month contract deal that also gets you some calling minutes and text messages free.



what is foreign exchange market xperia x10

March 14, 2014

What Is Foreign Exchange Market And Bangladesh

Filed under: Currency Charts — Tags: , , , — admin @ 2:44 am

Request to Bangladesh television channels editors : Freelance in Bangladesh are requesting television channels editors to help them. Television can arrange M Yakub Chowdhurys freelance training program in Television. It will help freelancers to do freelance job successfully. The training will also help them who are interested to do freelance job.

Why freelance training in television? : Television channel arrange many teaching programs like computer, English etc. It helps people to run the subject better. Television channels also get more people watching their channels for these programs. Freelance is one of the very hot issue in Bangladesh. Millions of people are now interested in internet job. They will be able to start their work and work successfully by the training. Those people will also be regular watcher of the channel.

Why M Yakub Chowdhurs freelance training program? : M Yakub has been doing internet work for a long twelve years. With his long successful experience he has written thousand of training manuals for freelancer. These manuals are even increasing thousand of pages every month. The manuals are prepared so that anybody with lower education can understand and follow them. The manuals are written both in Bengali and English. Besides he has written thousand of training articles in the internet and his hundreds of websites.

Importance of freelance job in Bangladesh : The Government of Bangladesh is giving high priority to information technology IT. Specially the prime minister of Bangladesh Sheikh Hasina Wajed declared the country as digital country Freelance is very much included IT. So Bangladesh television channel editors can help to achieve the goal of the country. They can help freelancers of Bangladesh to make their job easy by publishing freelance job training manuals. M Yakub Chowdhury freelance job training program is not any ordinary training program having ordinary training manuals. Rather all are written based on practical experience. To justify the importance of M Yakub just make a search at google with M Yakub Chowdhury or Bangladesh freelance job training or anything related to it. You will get thousands of resourceful article that will justify the knowledge and experience of the trainer. He is already publishing thousands of pages tutorial with many overseas article, knowledge based site. Bangladesh television may take the opportunity.

Frequently Asked Questions

  1. QUESTION:
    problem and prospects of rural marketing in bangladesh?
    I need an assign topics on problem and prospects of rural marketing in bangladesh

    • ANSWER:
      The economy of Bangladesh is a rapidly developing market-based economy.[3] Its per capita income in 2010 was est. US,700 (adjusted by purchasing power parity). According to the International Monetary Fund, Bangladesh ranked as the 47th largest economy in the world in 2010 in PPP terms and 57th largest in nominal terms, among the Next Eleven or N-11 of Goldman Sachs and D-8 economies, with a gross domestic product of US9.3 billion in PPP terms and US4.9 billion in nominal terms. The economy has grown at the rate of 6-7% p.a. over the past few years. More than half of the GDP belongs to the service sector, a major number of nearly half of Bangladeshis are employed in the agriculture sector, with RMG, textiles, leather, jute, fish, vegetables, leather and leather goods, ceramics, fruits as other important produce.

      Remittances from Bangladeshis working overseas, mainly in the Middle East is the major source of foreign exchange earnings; exports of garments and textiles are the other main sources of foreign exchange earning. Ship building and cane cultivation have become a major force of growth. GDP’s rapid growth due to sound financial control and regulations have also contributed to its growth. However, foreign direct investment is yet to rise significantly. Bangladesh has made major strides in its human development index.[4]

      The land is devoted mainly to rice and jute cultivation as well as fruits and produce, although wheat production has increased in recent years; the country is largely self-sufficient in rice production.[4][4] Bangladesh’s growth of its agro industries is due to its rich deltaic fertile land that depend on its six seasons and multiple harvests.[4]

      Improving at a very fast rate, infrastructure to support transportation, communications, power supply and water distribution are rapidly developing.[4] Bangladesh is limited in its reserves of oil, but recently there was huge development in gas and coal mining. The service sector has expanded rapidly during last two decades, the country’s industrial base remains very positive.[4] The country’s main endowments include its vast human resource base, rich agricultural land, relatively abundant water, and substantial reserves of natural gas, with the blessing of possessing the worlds only natural sea ports in Mongla and Chittagong, in addition to being the only central port linking two large burgeoning economic hub groups SAARC and ASEAN.[4]

  2. QUESTION:
    employment situation in bangladesh?

    • ANSWER:
      Agriculture has been the backbone of economy and chief source of income for the people of Bangladesh, the country made of villages.

      Government wants to decrease poverty by getting highest productivity from agriculture and achieve self-reliance in food production. Apart from agriculture, the country is much concerned about the growth of export division. Bangladesh have accelerated and changed her exports substantially from time to time.

      After Bangladesh came into being, jute and tea were the most export-oriented industries. But with the continual perils of flood, failing jute fibre prices and a considerable decline in world demand, the role of the jute sector to the country’s economy has deteriorated (Spinanger, 1986). After that, focus has been shifted to the function of production sector, especially in garment industry.

      The garment industry of Bangladesh has been the key export division and a main source of foreign exchange for the last 25 years. At present, the country generates about billion worth of products each year by exporting garment. The industry provides employment to about 3 million workers of whom 90% are women. Two non-market elements have performed a vital function in confirming the garment industry’s continual success; these elements are (a) quotas under Multi- Fibre Arrangement1 (MFA) in the North American market and (b) special market entry to European markets. The whole procedure is strongly related with the trend of relocation of production.

      The main objectives for setting up Export Processing Zones (EPZ) in the country is to increase export of non-traditional items, promote transfer of technology and create more employment opportunities. Exemption of income tax on salaries of foreign technician for 3 years subject to certain conditions.

  3. QUESTION:
    Geography Homework; Bangladesh,help?
    Okay, ive included how clothes are made in bangladesh, but why do they make clothes?what do they get out of it?how do they make them? if you can either tell me or post links to sites that’lll be a great help! ive googled, but i dont really know what site to look on:/xoxo

    thanks in advance!xo

    • ANSWER:
      I am from Bangladesh and I found the following from internet search, which eloquently says about the positives and negatives impacts of the 100% export oriented garments industries in Bangladesh.

      Bangladesh textile industry: From Wikipedia, the free encyclopedia

      While agriculture for domestic consumption is Bangladesh s largest employment sector, the money gained from exporting textiles is the single greatest source of economic growth in Bangladesh. Exports of textiles, clothing, and ready-made garments accounted for 77% of Bangladesh s total merchandise exports in 2002. Only 5% of textile factories are owned by foreign investors, with most of the production being controlled by families or Bangladeshi companies.

      History of Textile Production in Bangladesh

      Immediately after the founding of Bangladesh, tea and jute were the most export-oriented sectors. But with the constant threat of flooding, declining jute fiber prices and a significant decrease in world demand, the contribution of the jute sector to the country s economy has deteriorated. The garment industry in Bangladesh became the main export sector and a major source of foreign exchange starting in 1980, and exported about billion USD in 2002. (Now it’s about 12 Billion in 2012)

      The industry employs about 3 million workers of whom 90% are women. Two non-market factors have played a crucial role in ensuring the garment sector s continual success namely (a) quotas under Multi- Fibre Arrangement1 (MFA) in the North American market and (b) preferential market access to European markets.

      Until the liberation of Bangladesh, the textile sector was primarily an import-substitution industry. It began exporting ready-made garments (RMG) including woven, knitted, and sweater garments in 1978, which grew spectacurlarly during the next two and a half decades-from US.5 million in 1981 to US.7 billion in FY 2007. Apparel exports grew, but initially, the RMG industry was not adequately supported by the growth up and down the domestic supply chain (e.g., spinning, weaving, knitting, fabric processing, and the accessories industries). Until FY 1994, Bangladesh’s RMG industry was mostly dependent on imported fabrics-the Primary Textile Sector (PTS) was not producing the necessary fabrics and yarn.

      Source: http://en.wikipedia.org/wiki/Bangladesh_textile_industry

      For different view, please see the links below.

      Hope above helps.

  4. QUESTION:
    Could somebody tell me some information about Bangladesh?

    • ANSWER:
      Annual Energy and Energy-Related Data: Data for Bangladesh for the years 1980-2003, reported by fuel (energy) category, are available to be downloaded in Excel (xls) spreadsheet format. Go to the International Energy Data Page [html], select a fuel (energy) category, and scroll down to the xls spreadsheets. (Countries are grouped by geographic regions [defined here] in the spreadsheets.)
      Some more recent preliminary energy data and other current energy-related information may be available in the Country Analysis Brief and other reports listed [below].

      To see a complete energy balance for Bangladesh for a recent year scroll down to the next item.

      Country Energy Balance [html] – This energy balance is presented for the most recent year for which complete and final data are available. (See this note [html] for more details.) The data come from the World Energy Database, a Microsoft Access database, which also contains complete energy balances for earlier years back to 1990 and a less complete energy balance for the most recent year. The World Energy Database can be downloaded from here [html].
      Data Exchange Page: Bangladesh -United States [htm] – Energy data made available as the result of an agreement for energy information sharing between the Energy Information Administration and the government of Bangladesh.

      Top
      Forecasts
      Mid-Term (2005-2025) Nuclear Electric Power Generating Capacity Projections from the International Energy Outlook [html]
      High Economic Growth Case (Mega (106) watts) [html] or (select Table E2 in) [PDF]

      Country Analysis Brief and Other Analyses
      Country Analysis Brief [html] – An overview of the energy situation in this country.
      Data Exchange Page: Bangladesh -United States [html] – Energy data made available as the result of an agreement for energy information sharing between the Energy Information Administration and the government of Bangladesh.
      South Asia Regional Overview [html]The People’s Republic of Bangladesh is a country in South Asia. It is bordered by India on three sides, Myanmar to the southwest and the Bay of Bengal forms the southern coastline. Together with the Indian state of West Bengal, it comprises the ethno-linguistic region of Bengal. The name Bangladesh means “Country of Bengal” and is is written as and pronounced IPA: /’ba lad e /. The exact origin of the word Bangla or Bengal is unknown.

      The borders of Bangladesh were set by the Partition of India in 1947, when it became the eastern wing of Pakistan (East Pakistan), separated from the western wing by 1,600 km (1,000 miles). Despite their common religion, the ethnic and linguistic gulf between the two wings was compounded by an apathetic government based in West Pakistan. This resulted in the independence of Bangladesh in 1971, after a bloody war supported by India. The years following independence have been marked by political turmoil, with thirteen different heads of government, and at least four military coups.

      The population of Bangladesh ranks 8th in the world, but its area is ranked 93rd, which is approximately 144,000 sq km. It is 3rd among Muslim-majority nations, though it has a slightly smaller Muslim population than the Muslim minority in India. It is also one of the most densely populated countries in the world. Geographically dominated by the fertile Ganges-Brahmaputra Delta, the country has annual monsoon floods, and cyclones are also frequent. Bangladesh is one of the founding members of South Asian Association for Regional Cooperation (SAARC), BIMSTEC, and a member of the OIC and the D-8.
      With its large potential natural gas reserves, Bangladesh is becoming increasingly important to world energy markets.

      Note: Information contained in this report is the best available as of August 2005 and is subject to change.

      GENERAL BACKGROUND
      Bangladesh has received over billion in disbursed grant aid and loans from foreign donors since its independence in 1971, but remains one of the world’s poorest and most densely populated countries. The country historically has run a large trade deficit, financed primarily through foreign aid and remittances from the many Bangladeshi workers abroad (largely in the Persian Gulf region). Overall, foreign aid provides Bangladesh with around 40 percent of government revenues and 50 percent of foreign exchange. According to the World Trade Organization (WTO), Bangladesh’s main problems include civil unrest, political instability, natural disasters, and inadequate infrastructure. Bangladesh’s real GDP grew at an estimated rate of 5.3 percent in 2004, and is projected to remain steady at 5.2 percent in 2005.

      Although urbanization is proceeding rapidly, agriculture, which employs about two-thirds of the labor force and accounts for 35 percent of the gross domestic product (GDP), remains Bangladesh’s primary sector. The heavy reliance on agriculture makes Bangladesh vulnerable to natural disasters such as cyclones, floods, and droughts, as well as to fluctuations in world commodity prices. Severe flooding in 2004, reportedly the worst in a decade, damaged crops and infrastructure.

      While the majority of large enterprises remain under state control, Bangladesh has been moving towards a market-oriented economy since the mid-1970s. In an attempt to diversify its economy away from agriculture, industrial development has been made a priority. Bangladesh is attempting to attract foreign investment, and has established export processing zones (EPZs) in Chittagong (the country’s major port), Dhaka and Comilla. Exports of natural gas could provide an additional revenue source, but the issue remains controversial, and no final decision has been made. Although cotton textiles and garments account for about 80 percent of Bangladeshi exports, the impact of the end of textile quotas under the Multi-Fiber Arrangement in January 2005 has been moderate.

      A new government under the leadership of Prime Minister Khaleda Zia took office in October 2001 after the Bangladesh National Party (BNP) won the majority of seats in parliament. Political tensions remain high as the opposition Awami League party continues to stage strikes. In 2005, Mahmadur Rahman was appointed adviser for the energy portfolio, after the resignation of Moshrraf Hossein following a bribery scandal.

      Bangladesh (along with Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka) is a member of the South Asian Association for Regional Cooperation (SAARC), which seeks to promote regional economic cooperation, as well as economic and social development in South Asia. In 2004, the seven SAARC members agreed to create a South Asian Free Trade Area (SAFTA) by 2006.

      ENERGY
      Bangladesh has small reserves of oil and coal, but very large natural gas resources. Commercial energy consumption is around 66 percent natural gas, with the remainder mostly oil (plus limited amounts of hydropower and coal). About 20 percent of the population (25 percent in urban areas and 10 percent in rural areas) has access to electricity, and per capita commercial energy consumption is among the lowest in the world. Noncommercial energy sources, such as wood, animal wastes, and crop residues, are estimated to account for over half of the country’s energy consumption. The World Bank has estimated that Bangladesh loses around billion per year in economic output due to power outages and unreliable energy supplies.

      Bangladesh’s Ministry of Energy and Mineral Resources (MEMR) has overall responsibility for the country’s energy sector, controlling both policy formulation and investment decisions. Within MEMR, the “Power Cell” acts as a single point of contact to facilitate the electricity reform and restructuring process, including the development of Independent Power Projects (IPPs).

      OIL
      Bangladesh contains proven oil reserves of 56 million barrels and produces around 6,725 barrels per day (bbl/d), of which 6,000 bbl/d is crude oil. Until the early 1990s, the state oil and gas company Petrobangla, along with its eleven operating companies, was the sole player in the Bangladeshi oil and gas sectors. Since then, Bangladesh has encouraged foreign oil companies to do business in the country. Foreign companies currently hold ten blocks through eight Production Sharing Contracts (PSCs) with Petrobangla. Petrobangla serves as the sole purchaser of oil and gas from the companies. Around 65 percent of Petrobangla’s gross revenues are paid to the government in the form of taxes and compulsory dividends. A third licensing round for blocks is expected before the end of 2005. To date, oil exploration has proven largely unsuccessful.

      Refining/Downstream
      Bangladesh has one refinery, a 33,000-bbl/d unit at Chittagong. In December 2000, TotalFinaElf announced plans to set up a million plant to bottle liquefied petroleum gas (LPG), in a joint venture with Bangladesh’s Premier LP Gas Ltd. LPG is used in Bangladesh for domestic cooking, as well as in some industries and vehicles.

      In July 1999, Bangladesh decided to remove lead from gasoline sold in the country, mainly due to health and environmental concerns, particularly in Dhaka. In 2003, the Bangladeshi government approved price increases on retail sales of petroleum products by the Bangladesh Petroleum Corporation (BPC). The move reduced consumption subsidies and helped to reduce border smuggling, which had existed due to the price differential between retail petroleum in Bangladesh and India. The government also reportedly has considered allowing firms other than BPC to enter the downstream market.

      NATURAL GAS
      Natural gas is Bangladesh’s only significant source of commercial energy, with 2003 production of 420.2 billion cubic feet (Bcf). Bangladeshi natural gas production began in 1960 from the Chattak Field. There is much uncertainty and debate about the size of Bangladesh’s natural gas reserves. Whereas January 1, 2005 estimates by the Oil and Gas Journal put the country’s proven natural gas reserves at 10.6 trillion cubic feet (Tcf), mid-2004 estimates from Petrobangla put net proven reserves at 15.3 Tcf. The US Geological Survey has estimated that Bangladesh contains 32.1 Tcf of additional “undiscovered reserves.” Bangladesh may have the potential to become a major gas producer, as well as supplier to the vast potential market in neighboring India.

      Natural gas exports are controversial within Bangladesh as many people feel that the gas resources first should be used for domestic purposes. In addition, the size of the country’s gas reserves remains highly uncertain, particularly in relation to future domestic demand projections. Both major political parties officially are committed to considering natural gas exports only if Bangladesh’s proven reserves will cover 50 years of domestic demand.

      Bangladesh’s natural gas demand is expected by some independent analysts to grow by around 6 percent annually over the next two decades. Potential uses for natural gas in Bangladesh include petrochemicals, compressed natural gas (CNG) for vehicles, power generation, and fertilizer. CNG already is used to fuel over 20,000 vehicles, mainly in the Dhaka area. Bangladesh also contains around 55 million barrels of natural gas liquids (NGLs), which could be used for petrochemicals production or as a cooking fuel. Besides foreign energy companies, natural gas in Bangladesh is produced by two subsidiaries of Petrobangla — Sylhet Gas Fields Ltd. and Bangladesh Gas Fields Co. Ltd. — for domestic consumption. Over 80 percent of the natural gas is consumed for power and fertilizer production, and the remainder by industry and households.

      Petrobangla has approximately 20 natural gas fields, half of which are active. The main fields include: Bibiyana (discovered by Unocal in Block 12); Titas (the country’s second largest natural gas field); Habiganj, Kailashtilla, Rashidpur, and Jalalabad, nearly all of which are located in the eastern part of the country, plus the Sangu offshore natural gas field (being developed by Cairn Energy and Halliburton) in Block 16 of the Bay of Bengal, 30 miles southwest of Chittagong. Production from Sangu, Bangladesh’s first offshore field and first foreign-run field (with estimated reserves of around 850 Bcf), began in June 1998. In January 2000, Shell Bangladesh Exploration and Development (SBED) along with partners Cairn Energy and HBR Energy reportedly discovered a new natural gas field near Sangu (South Sangu-1). In August 2000, SBED announced a – million investment in new offshore natural gas exploration projects in Bangladesh, including the Sandwip East 1 well in Block 15. Other possible natural gas fields include Shaldanadi (estimated reserves of 500-1,000 Bcf), Fenchuganj, Feni, Kumta, and Shahbajpur. In March 2005, Unocal began production from the Moulavi Bazar field in Block 14, which is expected to produce up to 150 Bcf per day. Shahbazpur, discovered by Petrobangla subsidiary Bapex (Bangladesh Petroleum Exploration Company) in 1995, is estimated to contain 330-400 Bcf of recoverable natural gas. In 1998, Unocal and Petrobangla signed a PSC to develop the field. In January 2005, Bapex announced the discovery of natural gas at the Srikail field, with possible reserves of 200 Bcf.

      In March 2004, Unocal, the largest foreign investor in Bangladesh’s natural gas sector, shelved a proposal to export gas from the Bibiyana field to India, given the political obstacles to exports. Unocal plans to develop its assets in Bangladesh for sales to the domestic market. India’s Tata Group has recently shown interest in Bibiyana gas. In August and September 2003, ChevronTexaco and Shell sold their natural gas assets in Bangladesh to Canada’s Niko Resources and Cairn Energy, respectively. In November 2004, Niko Resources and Tullow Oil, the operator of Block 9, reported natural gas flowing at up to 120 million cubic feet (Mmcf) from the Bangora-1 well. In September 2004, Niko Resources announced that its Feni Block test well was producing at a rate of 32 Mmcf/d. In August 2005, Cairn Energy’s PSC for Block 16 in the Bay of Bengal was extended until May 2008. Over the next three years, Cairn plans to drill three exploration wells in the block at a cost of million.

      In 2005, two blowouts occurred at the Chattak-2 well in the Tengratila gas field, operated by Niko Resources under a joint venture with Bapex. The first took place in January and led to .5 million in losses and significant damage to the local environment. Although the site was secured, a second blowout occurred in late June. An inquiry committee formed to investigate the incidents has net yet submitted a report. As of early August 2005, the fire from the second blowout reportedly continues to burn out of control.

      In March 2005, the state-run Gas Authority of India Ltd. (GAIL) signed a memorandum of understanding (MOU) with the Bangladesh Business Development Corp. Ltd. (NNCL) to co-operate gas transmission, pipeline and distribution network development in Bangladesh. This follows a February 2005 MOU signed by GAIL and Bangladesh’s Spectra Group to develop compressed natural gas (CNG) pipelines and retail outlets in Bangladesh. Tullow Oil also won state approval in March 2005 to build a pipeline and gas processing plant.

      In January 2005, Bangladesh agreed to allow a proposed 559-mile pipeline to transport natural gas from Burma (Myanmar) to India through its territory. Bangladesh’s approval for the tri-nation gas pipeline, however, was contingent upon several trade concessions including the removal of tariff, non-tarriff and administrative barriers to help Dhaka close its trade deficit with India, access to hydroelectricity from Nepal and Bhutan and the establishment of a free trade corridor to these countries. According to the plans, Bangladesh’s Gas Transmission Co. would manage the 180 miles of the pipeline in its territory and the country would earn annual transit fees of 5 million dollars. As Bangladesh has continued to demand these trade concessions, India and Burma (Myanmar) have begun to consider alternatives such as a pipeline that bypasses Bangladesh (undersea or on land through northeastern India) or LNG shipments. These options, however, are more costly. While India and Bangladesh continue their bilateral negotiations to resolve these issues, the future of the pipeline project remains uncertain.

      COAL
      Bangladesh began its first significant coal production in April 2003 at the Barapukuria coal mine in the Dinjapur area of northwest Bangladesh. In June 2005, a consortium of the China National Machinery Import and Export Corporation (CMC) and the Xuzhou Coal Mining Group Company Ltd. signed a contract to run the management and production of the Barapukuria mine. The project is expected to produce about one million short tons of coal per year, primarily for electricity generation. A possible coal mining project at Khalashpir is also under consideration.

      In July 2005, Australia’s Asia Energy Corp. submitted a .4 billion plan to develop a coal mine in the Phulbari region. The Phulbari mine, which is located approximately 12 miles from the Indian border, is expected to begin production in 2007.

      ELECTRICITY
      Bangladesh’s installed electric generating capacity in 2003 was 3.6 gigawatts (GW) (94 percent – thermal, 6 percent – hydroelectric), at 18 power stations. However, only two-thirds of Bangladesh’s total electric generating capacity is considered to be “available.” Problems in the Bangladeshi electric power sector include high system losses (up to 40 percent), delays in completion of new plants, low plant efficiencies, natural gas availability, erratic power supply, electricity theft, blackouts, shortages of funds for power plant maintenance, and unwillingness of customers to pay bills. Overall, the country’s generation plants have been chronically unable to meet system demand over the past decade. With only about 20 percent of the population connected to the electricity grid, and with power demand growing rapidly, Bangladesh’s Power System Master Plan (PSMP) projects a required doubling of electric generating capacity by 2010. In addition, Bangladesh may need to replace 30 to 40 percent of its current generating capacity, due to aging infrastructure.

      The Padma-Jamuna-Meghna river system divides Bangladesh into Eastern and Western zones. The East contains nearly all of the country’s electric generating capacity, while the West, with almost no natural resources, must import power from the East. A 230-kilovolt (kV) power transmission line, completed in 1982, connects the East to the West. The vast majority of Bangladesh’s electricity (78 percent) is consumed in the East, with greater Dhaka alone consuming around 50 percent.

      Through the Ministry of Energy and Mineral Resources, the Bangladeshi government owns and supervises the Bangladesh Power Development Board (BPDB). BPDB is an integrated utility that distributes electricity to retail consumers, as well as to two other distribution utilities — the Dhaka Electric Supply Authority (DESA, established in 1991), and the Rural Electrification Board (REB, established in 1977).

      Given Bangladesh’s electricity supply shortage, in 1996 the government issued the “Private Sector Power Generation Policy of Bangladesh” and began to solicit proposals from international companies for IPPs. Among the first IPPs were a 360-MW gas-fired combined-cycle plant at Haripur, which began operation in October 2001, and a 450-MW gas-fired combined-cycle plant at Meghnaghat, which began operation in November 2002. Both plants were sold to the British firm CDC Globeleq in December 2003. India’s Bharat Heavy Electricals Ltd. (BHEL) completed a 124-MW gas-fired Baghabari generating unit in November 2001. BHEL currently is planning a 280-MW gas-fired plant for Sylhet. A power purchase agreement for a barge-mounted unit at Baghabari, which will have a 130-MW capacity, was signed with Malaysia’s Westmont Power in May 2004. A consortium of Chinese firms concluded an agreement with Bangladesh in June 2001 for the country’s first coal-fired power plant, to be located at Barapukuria near the country’s main coal deposits. It is expected to start generation in October 2005. In May 2005, U.S.-based Global Vulcan Energy International announced plans to build several power plants with a total generating capacity of 1,800 MW, including at least one 100-MW gas-fired plant, which may be online by the end of 2006, and two 450-MW coal-fired plants. In 2005, India’s Tata Group proposed a 1,000-MW coal-fired power plant.

      In addition to large IPP projects, in April 1998, Bangladesh adopted a “Small Power Generation Policy,” which encourages development of small local generation projects of up to 10-MW in capacity in underserved areas. The country has an active rural electrification program, which is to receive 0 million from the Asian Development Bank (ADB) under a program announced in December 2003. All of these initiatives aim to increase power generation and to reduce the country’s power shortage significantly, with a goal of universal electrification by 2020.

      In April 2005, China and Bangladesh signed an agreement on nuclear cooperation. Under the agreement, Bangladesh is to receive Chinese assistance in exploration for nuclear materials and construction of a 600-MW nuclear power plant.

      Discussions have been underway for several years about the possibility of Bangladesh connecting its electric grid to those of India, Nepal, and Bhutan. Nepal and Bhutan have substantial untapped hydroelectricity potential, which could be exported to India, Pakistan, and Bangladesh. In March 1999, India’s Power Grid Corporation completed a feasibility study on possible exchange of 150 MW of power between Bangladesh and India. Interconnection points would be Ishwardi, Bangladesh-Farakka, India and Shahjibazar, Bangladesh-Kurnarghat, India.

      COUNTRY OVERVIEW
      President: Iajuddin Ahmed
      Prime Minister: Begum Khaleda Zia (since 10 October 2001)
      Independence: December 16, 1971 (from Pakistan)
      Population (July 2005E): 144 million
      Location/Size: Southern Asia, bordering Bay of Bengal, between India and Burma/55,813 square miles (about the size of Wisconsin)
      Major Cities: Dhaka (capital — population, 10 million), Chittagong (2.8 million), Khulna (1.8 million), Rajshahi (1 million)
      Languages: Bangla (official, also known as Bengali), English
      Ethnic Groups: Bengali (98%), tribal groups, non-Bengali Muslims
      Religions: Muslim (83%), Hindu (16%), Christian, Buddhist, others (1%)

      ECONOMIC OVERVIEW
      Finance Minister: M. Salifur Rahman
      Currency: Taka (Tk)
      Market Exchange Rate (8/05/05): US = 65.0 Tk
      Gross Domestic Product (GDP) (2005F, market exchange rates): .1 billion
      Per Capita GDP (market exchange rate, 2005F): 1
      Real GDP Growth Rate (2004E): 5.3% (2005F): 5.2%
      Inflation Rate (consumer prices) (2005F): 6.0%
      Merchandise Exports (2005F): .7 billion
      Merchandise Imports (2005F): .4 billion
      Merchandise Trade Balance (2005F): -.7 billion
      Major Trading Partners (2005): United States, India, China, Japan, United Kingdom, Germany, France, Singapore
      Major Export Products: Garments and knitwear, frozen fish, jute and jute goods, leather and leather products, tea, urea fertilizer, ceramic tableware
      Major Import Products: Capital goods, foodgrains, petroleum, textiles, chemicals, vegetable oils

      ENERGY OVERVIEW
      Minister for Energy and Mineral Resources: Begum Khaleda Zia
      Proven Oil Reserves (1/1/05E): 56 million barrels
      Oil Production (2004E): 6,725 bbl/d, of which 6,000 bbl/d was crude oil
      Oil Consumption (2004E): 96,000 bbl/d
      Net Oil Imports (2004E): 89,275 bbl/d
      Crude Oil Refining Capacity (1/1/05E): 33,000 bbl/d
      Natural Gas Reserves (2005E): 10.6 trillion cubic feet (Tcf) (current estimate from The Oil and Gas Journal. Other estimates vary widely. The US Geological Survey has estimated that Bangladesh has an additional 32.1 Tcf in “undiscovered reserves.”)
      Natural Gas Production (2003E): 420.2 billion cubic feet (Bcf)
      Natural Gas Consumption (2003E): 420.2 Bcf
      Coal Production (2003): None
      Coal Consumption (2003): 0.8 Mmst
      Electric Generation Capacity (2003E): 3.6 gigawatts
      Electricity Production (2003E): 17.4 billion kilowatthours (94% thermal, 6% hydro)

      ENVIRONMENTAL OVERVIEW
      Minister of Environment & Forests: Shajahan Siraj
      Minister of Water Resources: L.K. Siddiqui
      Total Energy Consumption (2003E): 0.61 quadrillion Btu* (0.1% of world total energy consumption)
      Energy-Related Carbon Dioxide Emissions (2003E): 35.7 million metric tons of carbon dioxide (0.1% of world carbon dioxide emissions)
      Per Capita Energy Consumption (2003E): 4.2 million Btu (vs U.S. value of 339.9 million Btu)
      Per Capita Carbon Dioxide Emissions (2003E): 0.24 metric tons of carbon dioxide (vs U.S. value of 20.0 metric tons of carbon dioxide)
      Energy Intensity (2003E): 2,663 Btu/$nominal — PPP (vs. U.S. value of 9,569 Btu/$nominal — PPP)**
      Carbon Dioxide Intensity (2003E): 0.15 metric tons of carbon dioxide/$nominal — PPP (vs. U.S. value of 0.56 metric tons/$ nominal)**
      Fuel Share of Energy Consumption (2003E): Natural Gas (68.3%), Oil (28.8%), Coal (2.5%), Hydro (1.8%)
      Fuel Share of Carbon Dioxide Emissions (2003E): Natural Gas (60.9%), Oil (35.3%), Coal (3.9%)
      Status in Climate Change Negotiations: Non-Annex I country under the United Nations Framework Convention on Climate Change (ratified on April 15, 1994). Not a signatory to the Kyoto Protocol.
      Major Environmental Issues: Many people are landless and forced to live on and cultivate flood-prone land; limited access to potable water; water-borne diseases prevalent; water pollution especially of fishing areas results from the use of commercial pesticides; intermittent water shortages because of falling water tables in the northern and central parts of the country; soil degradation; deforestation; severe overpopulation.
      Major International Environmental Agreements: A party to the Conventions on Biodiversity, Climate Change, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Nuclear Test Ban, Ozone Layer Protection and Wetlands. Has signed, but not ratified, the Law of the Sea.

      Sorry if it took long to read it.

  5. QUESTION:
    What are the effects on a small open economy due to investment tax incentives in a large open economy?
    Suppose that a large foreign country begins to subsidize investment by instituting an investment tax credit. Explain how this policy would affect the world interest rate, real exchange rate, and investment and trade balance of our small open economy.

    • ANSWER:
      Small economy has only very limited capacity to absorb investment,what ever concessions given.They do not have enough natural resources.Examples are Srilanka,Bangladesh.Limit to investment is decided by absorption capacity of the economy.Attempts to subsidise investment in Srilanka,Bangladesh etc failed.Trade balance of small economies who welcomed large scale foreign investment become adverse,resulted in inflation etc.Small economies can flourish by trade,not by production.In the case of Singapore,they mostly import and sell /export and make net profit.
      Economic theory,will say since the small economy is open,it will have world wide market,and it will be benefitted with more trade balance,better exchange rate etc,but this will not materialise due to other limiting factors.

  6. QUESTION:
    which of these countries is the most developed in agriculture?
    i need an answer:Bangladesh,Uganda,Nepal,Ethiopia,Thailand?

    • ANSWER:
      People’s Republic of Bangladesh
      Population: 147,365,352 (July 2006 est.)

      Land Area: 133,910 sq km
      Land use: arable land: 55.39% (74,172 sq km)
      permanent crops: 3.08% (4124 sq km, 5.56% of arable land)

      GDP (official exchange rate): .02 billion (2006 est.)
      GDP – composition by sector:
      agriculture: 19.9% (.7 billion)
      industry: 20.6%
      services: 59.5% (2006 est.)

      “Although more than half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product. Major impediments to growth include frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms. Reform is stalled in many instances by political infighting and corruption at all levels of government. Progress also has been blocked by opposition from the bureaucracy, public sector unions, and other vested interest groups. The BNP government, led by Prime Minister Khaleda ZIA, has the parliamentary strength to push through needed reforms, but the party’s political will to do so has been lacking in key areas.”
      “Bangladesh’s dependence on food imports and, in particular, food aid throughout the years has been cause for concern. Food imports in Bangladesh currently represent approximately 18 percent of total imports and absorb 34 percent of total export earnings. In 1990/91, food aid represented 98 percent of total food imports but this has been reduced considerably to representing 30 percent of total food imports in 1995/96. The significant difference has essentially been made up by private sector imports, which began in 1992/93.”

      Republic of Uganda
      Population: 28,195,754

      Land Area: 199,710 sq km
      Land use: arable land: 21.57% (43,077 sq km)
      permanent crops: 8.92% (17,814 sq km, 41% of arable land)

      GDP (official exchange rate): .502 billion (2006 est.)
      GDP – composition by sector:
      agriculture: 29.4% (.5 billion)
      industry: 22.1%
      services: 48.5% (2006 est.)

      “Uganda has substantial natural resources, including fertile soils, regular rainfall, and sizable mineral deposits of copper and cobalt. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government – with the support of foreign countries and international agencies – has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. During 1990-2001, the economy turned in a solid performance based on continued investment in the rehabilitation of infrastructure, improved incentives for production and exports, reduced inflation, gradually improved domestic security, and the return of exiled Indian-Ugandan entrepreneurs. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth .3 billion and Paris Club debt relief worth 5 million. These amounts combined with the original HIPC debt relief added up to about billion. Growth for 2001-02 was solid despite continued decline in the price of coffee, Uganda’s principal export. Growth in 2003-06 reflected an upturn in Uganda’s export markets.”

      Nepal
      Population: 28,287,147 (July 2006 est.)
      Land Area: 143,181 sq km
      Land use: arable land: 16.07% (23,009 sq km)
      permanent crops: 0.85% (1217 sq km, 5.28% of arable land)

      GDP (official exchange rate): .154 billion (2006 est.)
      GDP – composition by sector:
      agriculture: 38% (.72 billion)
      industry: 21%
      services: 41% (2005 est.)

      ” Nepal is among the poorest and least developed countries in the world with almost one-third of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for 38% of GDP. Industrial activity mainly involves the processing of agricultural produce including jute, sugarcane, tobacco, and grain. Security concerns relating to the Maoist conflict have led to a decrease in tourism, a key source of foreign exchange. Nepal has considerable scope for exploiting its potential in hydropower and tourism, areas of recent foreign investment interest. Prospects for foreign trade or investment in other sectors will remain poor, however, because of the small size of the economy, its technological backwardness, its remoteness, its landlocked geographic location, its civil strife, and its susceptibility to natural disaster.”

      Uganda is actually using 8 times its arable land for crops (in terms of percentage of arable land: 41% instead of Bangladesh s 5.56%) and over four times the land in area (17,814 sq km instead of Bangladesh s 4124 sq km).

      Uganda s per-capita agricultural GDP, at .67, is slightly lower than Bangladesh s .97, only because of the recent decline in the wholesale price of coffee, Uganda s principle export.

      Bangladesh imported .737 (.79 per capita) billion in food stuffs as opposed to Uganda s 4 million (.01 per capita)

      I believe that the most agriculturally developed country of the three is Uganda, with Bangladesh second (close in some ways, not close in others) and Nepal a distant third.

  7. QUESTION:
    what the mean Of Partial Conververtability of rupees against current account?

    • ANSWER:
      The rupee has arrived. Long before the domestic currency gets the `convertible tag, it s being freely accepted and exchanged in Singapore, Malaysia, Indonesia, Hong Kong, Sri Lanka and other countries. Till now, such transactions were confined to select departmental stores which are favourite of Indian tourists; now more and more shops, hotels and even money changers are willing to accept the local legal tender.

      This means no double conversions, and therefore, extra cost while exchanging Indian rupees. This may not be quite legal since in the international money market, the rupee is still not a deliverable currency. Nonetheless, its acceptance is on the rise, thanks to growing trade with India and a surge in tourist inflows.

      It has certainly made things easier for the Indian tourists who can simply carry rupees, and do away with travellers cheques. In most Asian countries, the nearest `money exchange shop will give them the local currency against rupees. Many feel the trend has picked with hints that convertibility may be matter of time.

      Travel agents, in India, say that since many Indians are travelling abroad, especially to Asian countries, many banks and foreign exchange agents abroad have started accepting Indian rupees. Tarmo Wong, a manager with `money exchange shop in one of the biggest hotels in Singapore, said, We have orders to accept the Rs 500 and Rs 1,000 bills. We have been doing this for almost 6-8 months now. Some of the `money changers in Singapore have a similar view.

      Interestingly, in the small, but growing parallel market, the conversion rates have become finer for the Indian traveller or the business tourist. Earlier, a handful of outfits accepted the Indian rupee and usually the buy/sell spread was high.

      Most travellers (even today) convert their rupees in US dollars in India and then exchange them again in local currencies of countries they visit. The cost of such double conversion could be as high as 5%. Prakash Dagia, a regular business traveller to countries like Indonesia, Bangladesh and Malaysia, said, In the past few months, the rupee has gained acceptance in almost all countries in Asia. The best part is you can exchange it back to Indian rupees when you re flying back to India.

      Full currency convertibility of the Indian rupee means that you can travel abroad and buy dollars you need over the counter. Partial currency convertibility already exists in the system. For instance, you can spend through your credit card and pay the money spent in foreign currency back in India in Indian rupees. Currency convertibility refers to the absence of any restriction on the holding of foreign currencies by residents and of the national currency by foreigners, and on free conversion between currencies. It does not preclude restrictions on the type and quantity of non-currency assets that residents can hold abroad or foreigners can hold in the country.

      Pls check the following link also for further information:

      http://www.geocities.com/kstability/learning/forex-market/faq2.html

  8. QUESTION:
    Traveling to India??!?!?
    I want to travel to India/Bangaldesh. And was wondering..can I use American Dollars there to buy stuff at markets? I know this is a stupid question..because I know I can’t..so how can I exchange my American dollars into Indian/Bangla currency? And how much does it cost to travel there if I live in America? :)

    • ANSWER:
      I’ve answered a similar question from you a while ago. I would like to post the same here:

      Strictly speaking, you can’t transact with US Dollar in Bangladesh shops since they are mostly not authorized to deal with foreign currencies and it’s illegal to possess foreign currencies (apart from small amount as souvenir).

      What you need to do on-arrival in Dhaka airport or land-ports is that you try to find Bangladesh Government’s authorized Bank (Sonali Bank, Janata Bank or Agrani Bank) and change at least 100 US Dollar into Bangladeshi currency that would approximately come to Taka Eighty or 81+ depending on the purchase rate of the day as set by the central bank (though different bank sets their own rates which are slightly this way or that way from BB rate).

      When you reach hotel you can change the US Dollar easily from hotel counter too, if these are minimum 3-Star Hotels.

      If you have more shopping to do then get more 100 dollar bills en-cashed. Remember, the 100 dollar bills gets little more in Taka (in short, Tk.) than the smaller denominations of the dollar bills would get.

      About finding the travelling cost what you can contact your travel agents who can provide you with ticketing costs. Lodging in small ‘Guest Houses’ in Gulshan, Banani, Baridhara and such posh places would entail US/day and for food and travel add another US and you would need at least US0/day for food and travel. The total cost with contingency would come to around US0/day if you want a comfortable stay and food with some purchase of souvenirs.

      PS. If you need to know about Bangladesh then I can post you the answer that I have posted a while ago for a new would-be traveler who wanted to know about our country.

      Welcome in Bangladesh and hope you have happy stay.

  9. QUESTION:
    Describe the objectives of central bank?

    • ANSWER:
      The objectives of central bank are: –
      1.To regulate the issue of bank notes,

      2.To organize a sound and healthy system of commercial banking in the country,

      3.To act as a banker to the commercial banks and to some of the financial institutions, holding custody of their cash reserves and granting them accommodation in a discretionary way,

      4.To regulate the supply of credit by using the instruments of general and selective credit controls,

      5.To conduct the banking and financial operations of the government,

      6.To maintain exchange value of the Currency,

      7.To manage the country s international reserves and to exercise control over payments and receipts for international transactions,

      8.To perform developmental and promotional functions relating to

      i.The extension of the banking system territorially and functionally,

      ii.Establishment of promotion of new specialization financing agencies,

      iii.Expansion of facilities for the provision of agricultural credit,

      iv.Widening the facilities for provision of industrial finance and

      v.The systematic development of the underdeveloped money market and

      9.To collect and publish data relating to money, credit, banking and foreign exchange in Bangladesh.

  10. QUESTION:
    which company manufactured CDMA&GSM equipment?2) which technology is used for voice & internet access in india
    internetworking based question

    • ANSWER:
      its called zTE

      is a global provider of telecommunications equipment
      and
      TE is expanding overseas. A PSTN project in Bangladesh was its first overseas project. ZTE undertook ADSL broadband access projects at 16 venues and press centers for the Olympic Games in Athens 2004. ZTE was awarded a contract from Viet Nam Railways valued at VND1 trillion (62.5 million USD) to upgrade and modernize the railway’s signal and telecommunications systems [1]. The multi-million dollar project, with planning started in 2001, includes upgrades on three lines out of Hanoi as well as several junctions within and around Hanoi. ZTE made headway in the international telecom market in 2006 and took 40% new global orders for CDMA networks [2] and topped the world CDMA equipment market in 2006 by number of shipments [3]. ZTE is installing its ZTE Class 5 soft switch system in Global e Networks’ London Docklands telecoms hub for IP-based communications between the UK and European markets [4].

      On March 13, 2007, Reuters reported that ZTE had received the go-ahead to sell equipment based on 3G in China from the Chinese Ministry of Information Industry [5].

      ZTE manufacture several models of 3G mobile phone which are rebranded by Telstra for use on their NextG network. Spanish telecom company Telef nica Espa a will jointly manufacture and distribute 3G mobile handsets with ZTE [6]. Telus of Canada is currently offering the ZTE D90 cellphone with the innovative FastapTM keypad[7].

      ZTE (Chinese (Zhong Xing Telecommunication Equipment Company Limited) SEHK: 0763 is a global provider of telecommunications equipment and network solutions (GSM, CDMA, CDMA-2000, WCDMA, TD-SCDMA, IMS, NGN, PSTN, SDH, ADSL, IPTV) based in Shenzhen, the People’s Republic of China. ZTE was established in 1985 and its shares are publicly traded on both the Hong Kong and Shenzhen Stock Exchanges.

      ZTE corporate headquarters are located in Nanshan Hi-Tech Industrial Park, Shenzhen, Guangdong Province, with domestic R&D centers operating in LianTang/Shenzhen, Shanghai (GSM), Nanjing, Xi’an, Chongqing, Chengdu and Beijing (total fourteen worldwide R&D facilities). ZTE University is located in Damaisa, approximately 1.5 hours east of ZTE HQ, and provides training for both staff and clients from around the world. Latest figures (Q4 ’06) estimate over 30,000 employees (Chinese & foreign), with approximately 20k inside China. ZTE established a United States presence in 1998. The U.S. headquarters are located in Dallas, Texas.

      ZTE Corporation, a leading global provider of telecommunications equipment and network solutions, topped the world CDMA equipment market in 2006 by number of shipments.

      ZTE shipped over 12,000 units of CDMA BTS equipment from January to December 2006, 41 percent of the global market by number of contracts according to China’s Ministry of Information Industry (MII) telecom academy. Industry analyst Ovum anticipates that ZTE will achieve 20 percent market share in China’s coming 3G CDMA 2000 market and will gain a rapidmarket share increase as a result.

  11. QUESTION:
    Is india is a powerfull country in world after U.S.A.?

    • ANSWER:
      Is india is a powerfull country in world after U.S.A.?It has the world’s twelfth largest economy————————-It is the seventh-largest country by geographical area, the second-most populous country, and the most populous democracy in the world.It has the world’s twelfth largest economy at market exchange rates and the fourth largest in purchasing power. Economic reforms since 1991 have transformed it into one of the fastest growing economies; however, it still suffers from high levels of poverty, illiteracy, and malnutrition. A pluralistic, multilingual, and multiethnic society, India is also home to a diversity of wildlife in a variety of protected habitats.India maintains the third-largest military force in the world, which consists of the Indian Army, Navy, Air Force and auxiliary forces such as the Paramilitary Forces, the Coast Gua ——————————————————————

      Economy For an entire generation from the 1950s until the 1980s, India followed socialist-inspired policies. The economy was shackled by extensive regulation, protectionism, and public ownership, leading to pervasive corruption and slow growth. Since 1991, the nation has moved towards a market-based system. The policy change in 1991 came after an acute balance of payments crisis, and the emphasis since then has been to use foreign trade and foreign investment as integral parts of India’s economy.

      With an average annual GDP growth rate of 5.8% for the past two decades, the economy is among the fastest growing in the world. It has the world’s second largest labour force, with 516.3 million people. In terms of output, the agricultural sector accounts for 28% of GDP; the service and industrial sectors make up 54% and 18% respectively. Major agricultural products include rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes; cattle, water buffalo, sheep, goats, poultry; fish. Major industries include textiles, chemicals, food processing, steel, transport equipment, cement, mining, petroleum, machinery, software. India’s trade has reached a relatively moderate share 24% of GDP in 2006, up from 6% in 1985. India’s share of world trade has reached 1%. Major exports include petroleum products, textile goods, gems and jewelry, software, engineering goods, chemicals, leather manufactures. Major imports include crude oil, machinery, gems, fertilizer, chemicals.

      India’s GDP is US.089 trillion, which makes it the twelfth-largest economy in the world or fourth largest by purchasing power adjusted exchange rates. India’s nominal per capita income US7 is ranked 128th in the world. In the late 2000s, India’s economic growth has averaged 7 % a year, which will double the average income in a decade.

      Despite India’s impressive economic growth over recent decades, it still contains the largest concentration of poor people in the world, and has a higher rate of malnutrition among children under the age of three (46% in year 2007) than any other country in the world.

      The percentage of people living below the new international poverty line .08 a day (PPP, in nominal terms Rs 21.6 a day in urban areas and Rs 14.3 in rural areas in 2005) decreased from 60% in 1981 to 42% in 2005 – the 3rd highest rate in South Asia after Nepal and Bangladesh, despite having a higher per capita income earning overall 85.7% of the population was living on less than .50 (PPP) a day in 2005, compared with 80.5% for Sub-Saharan Africa. Even though India has avoided famines in recent decades, half of children are underweight, one of the highest rates in the world and nearly double the rate of Sub-Saharan Africa.

      Ongoing reforms are watched closely as India could become potentially important for the global economy. A Goldman Sachs report predicts that “from 2007 to 2020, India s GDP per capita will quadruple,” and that the Indian economy will surpass the United States by 2043, but India “will remain a low-income country for several decades, with per capita incomes well below its other BRIC peers. But if it can fulfill its growth potential, it can become a motor for the world economy, and a key contributor to generating spending growth.”.[101] Although the Indian economy has grown steadily over the last two decades; its growth has been uneven when comparing different social groups, economic groups, geographic regions, and rural and urban areas http://en.wikipedia.org/wiki/India#Foreign_relations_and_military

  12. QUESTION:
    What is India’s major concern in this new century?

    • ANSWER:
      What is India’s major concern in this new century?India has many problems but the most important is economy.It is the second most populous country in world but it is only the twelfth-largest economy in the world. The percentage of people living below the new international poverty line .08 a day decreased from 60% in 1981 to 42% in 2005 . Since 1991, the nation has moved towards a market-based system . In the late 2000s, India’s economic growth has averaged 7 % a year, which will double the average income in a decade.it still contains the largest concentration of poor people in the world, and has a higher rate of malnutrition among children under the age of three (46% in year 2007) than any other country in the world. http://en.wikipedia.org/wiki/India ———————— Economy http://en.wikipedia.org/wiki/India#Economy
      .For an entire generation from the 1950s until the 1980s, India followed socialist-inspired policies. The economy was shackled by extensive regulation, protectionism, and public ownership, leading to pervasive corruption and slow growth.Since 1991, the nation has moved towards a market-based system. The policy change in 1991 came after an acute balance of payments crisis, and the emphasis since then has been to use foreign trade and foreign investment as integral parts of India’s economy.
      With an average annual GDP growth rate of 5.8% for the past two decades, the economy is among the fastest growing in the world. It has the world’s second largest labour force, with 516.3 million people. In terms of output, the agricultural sector accounts for 28% of GDP; the service and industrial sectors make up 54% and 18% respectively. Major agricultural products include rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes; cattle, water buffalo, sheep, goats, poultry; fish. Major industries include textiles, chemicals, food processing, steel, transport equipment, cement, mining, petroleum, machinery, software. India’s trade has reached a relatively moderate share 24% of GDP in 2006, up from 6% in 1985. India’s share of world trade has reached 1%. Major exports include petroleum products, textile goods, gems and jewelry, software, engineering goods, chemicals, leather manufactures. Major imports include crude oil, machinery, gems, fertilizer, chemicals.

      India’s GDP is US.089 trillion, which makes it the twelfth-largest economy in the world or fourth largest by purchasing power adjusted exchange rates. India’s nominal per capita income US7 is ranked 128th in the world. In the late 2000s, India’s economic growth has averaged 7 % a year, which will double the average income in a decade.
      Despite India’s impressive economic growth over recent decades, it still contains the largest concentration of poor people in the world, and has a higher rate of malnutrition among children under the age of three (46% in year 2007) than any other country in the world.
      The percentage of people living below the new international poverty line .08 a day (PPP, in nominal terms Rs 21.6 a day in urban areas and Rs 14.3 in rural areas in 2005) decreased from 60% in 1981 to 42% in 2005 – the 3rd highest rate in South Asia after Nepal and Bangladesh, despite having a higher per capita income earning overall 85.7% of the population was living on less than .50 (PPP) a day in 2005, compared with 80.5% for Sub-Saharan Africa. Even though India has avoided famines in recent decades, half of children are underweight, one of the highest rates in the world and nearly double the rate of Sub-Saharan Africa.

      Ongoing reforms are watched closely as India could become potentially important for the global economy. A Goldman Sachs report predicts that “from 2007 to 2020, India s GDP per capita will quadruple,” and that the Indian economy will surpass the United States by 2043, but India “will remain a low-income country for several decades, with per capita incomes well below its other BRIC peers. But if it can fulfill its growth potential, it can become a motor for the world economy, and a key contributor to generating spending growth.”. Although the Indian economy has grown steadily over the last two decades; its growth has been uneven when comparing different social groups, economic groups, geographic regions, and rural and urban areas. World Bank suggests that the most important priorities are public sector reform, infrastructure, agricultural and rural development, removal of labor regulations, reforms in lagging states, and HIV/AIDS
      With an estimated population of 1.17 billion, representing 17% of the world population, India is the world’s second most populous country. http://en.wikipedia.org/wiki/India#Demographics The last 50 years have seen a rapid increase in population due to medical advances and massive increase in agricultural productivity made by the green revolution. Almost 70% of Indians reside in rural areas, although in recent decades migration to larger cities has

  13. QUESTION:
    what is pakistans history?? or anything else?
    please tell me anything about pakistan that you no or even a pakistani song i have to make an speech in front of thousands of pl.

    • ANSWER:
      The separation in 1947 of British India into the Muslim state of Pakistan (with two sections West and East) and largely Hindu India was never satisfactorily resolved, and India and Pakistan fought two wars – in 1947-48 and 1965 – over the disputed Kashmir territory. A third war between these countries in 1971 – in which India capitalized on Islamabad’s marginalization of Bengalis in Pakistani politics – resulted in East Pakistan becoming the separate nation of Bangladesh. In response to Indian nuclear weapons testing, Pakistan conducted its own tests in 1998. The dispute over the state of Kashmir is ongoing, but discussions and confidence-building measures have led to decreased tensions since 2002.

      Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes, low levels of foreign investment, and a costly, ongoing confrontation with neighboring India. However, IMF-approved government policies, bolstered by generous foreign assistance and renewed access to global markets since 2001, have generated solid macroeconomic recovery the last five years. The government has made substantial macroeconomic reforms since 2000, most notably privatizing the banking sector. Poverty levels have decreased by 10% since 2001, and Islamabad has steadily raised development spending in recent years, including a 52% real increase in the budget allocation for development in FY07, a necessary step toward reversing the broad underdevelopment of its social sector. The fiscal deficit – the result of chronically low tax collection and increased spending, including reconstruction costs from the October 2005 earthquake – appears manageable for now. GDP growth, spurred by gains in the industrial and service sectors, remained in the 6-8% range in 2004-06. Inflation remains the biggest threat to the economy, jumping to more than 9% in 2005 before easing to 7.9% in 2006. The central bank is pursuing tighter monetary policy – raising interest rates in 2006 – while trying to preserve growth. Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium term.

      opium poppy cultivation estimated to be 800 hectares in 2005 yielding a potential production of 4 metric tons of pure heroin; federal and provincial authorities continue to conduct anti-poppy campaigns that force eradication – fines and arrests will take place if the ban on poppy cultivation is not observed; key transit point for Afghan drugs, including heroin, opium, morphine, and hashish, bound for Western markets, the Gulf States, and Africa; financial crimes related to drug trafficking, terrorism, corruption, and smuggling remain problems

  14. QUESTION:
    Do you think RMB undervalued? If so How much should it?

    • ANSWER:
      Definitely, the RMB is under valued by at least half. Remember, in 2006 China was sitting on a USD110+ billion trade surplus. In other words, China is selling more than buying & thus the demand for the RMB should be higher but the discrepency lies in the control the central government has established for the RMB.

      What does the Chinese government do with all the excess money?. They invest & they invest large into US government bonds.

      Since joining the WTO however, China has been under pressure to lower their control on the RMB & to allow it to float freely in the international market. This isn’t going to happen anytime soon because the government understands that while China is a manufacturing country, a lot of its manufacturing standards are inefficient. Does this make sense?.

      This means that yes there are a lot of small export orientated businesses in China but they are inefficient. They depend on 2 things for survival, favorable exchange rate and government subsidies (in some manufacturing sectors, its about 20%).

      If the RMB were to float at RMB4=USD1 today, a lot of these manufacturing jobs will move to foreign countries like Bangladesh and India (or Vietnam) because it will not be the cheapest place to make all this products.

  15. QUESTION:
    Post Lk Advani work, that he did as Home minister in 1998-2004?
    INDIA yahoo users
    V: please please please please please…………………………………………………………………….

    POST WORK, I AM ASKING ADVANI WORK
    maitree: BJP projecting LK Advani as 2009 election PM,If BJP win
    maitree: Rahul_Y is correct, i am watching your answers. Its shameful for BJPand its supporters
    maitree: why you putting question intead of answering my question. Its Question and Answer forum not Question -Question.

    Secondly let me reply to your question,I am 82 years old and can answers your question easily.

    why farmers in our country still commit suicide or why people still die from hunger?

    Answer: Bcos they took loan from private Institutions. Govt can’t help in it

    what abt Kashmir, Assam or the North-eastern states who loved the work of the Cong. govts so much that they donot want to stay with India any more?

    King of Kashmir opt India after 6 month of freedom. under agreement 370.Signed by Nehru and King of Kashmir. Rest all state are part of INDIA.

    • ANSWER:
      Before I answer Mac’s question, I would want to answer many other users:

      First of all V:

      Did any one ever asked you on this forum that you vote of Congress or BJP or any other party? Why are you so insecure and keep repeating that you will vote of BJP? Whom are you telling that? Yourself or us? We don’t really want to know if you want to vote BJP or anyone in the world.

      Now coming to illegal money taken out of India, remember no one know how much is this money? Whose money is this? God knows, this many may also include the money taken as commission for coffin after Kargil war? The bigger question is, where was BJP and Mr. Advani when in power for 5 years and why they did not make any effort to bring this money back to India? Why they did not raise this issue while in opposition for these years? Why all of a sudden he got reminded of this issue just before elections? I know you do not have answer but I have answer, this is because, Mr. Advani does not have any issue that is why he came up with this issue.

      Maitree:

      So you know Congress had been in power for most of the years. Right? I am very happy to know that you have very good knowledge about our country. Would you do few comparisons as well:

      India in 1947 India in 2009
      India in 2004 India in 2009
      Indian States that are mostly ruled by Non-Congress Governments Vs. States Mostly ruled by Congress Governments

      I am sure you will get your answer:

      Just to highlight some points:

      During Nehru’s era India was built. By that I mean, India became republic of India and all the kingdoms were merged in India. He also started IIM, IIT and AIMS

      During Lal Bahadur Shastri’s era, he started Green Revolution in India that made India as food surplus nation and made agriculture as main component of our economy. And you cannot forget 1965 war against Pakistan.

      Indiar Gandhi, was responsible for resolving Tamil-Hindi conflict in Tamilnadu by peaceful talks. No one can forget her for 1971 war with Pakistan where Bangladesh was separated and even Vajapayee called her as Durga. First nuclear test was performed during her era in 1967 in Pokaran due to threat from China. She started Green Revolution program that started food export. She eliminated terrorism from Punjab completely.

      Rajiv Gandhi: During his era, India entered into two areas, computers and telcom. He was the one who brought STD/ISD and computers to India. He continued the programs started by his mother.

      P V Narsimharao: Opened Indian equity market for foreigners. Started National Stock exchange as computer based system. Impact of this, foreign investment in India in 1991-1992 2 million grew to .3 billion in 1995-1996. You might be surprised to know that Rao picked Vajapayee to represent in UN to represent Indian on disarmament.

      Dr. Manmohan Singh: Improved relations with US, UK, Russia, France, Germany. Nuclear Deal, suitable diplomatic reply after Mumbai attack. Excellent response for global recession. Decent and clean prime minister.

      Other users:

      Every country has problems. US being such strong nation, has problems, today thousands have lost their home and living in shelters, same with UK and France. China has its own problems, that does not mean country has not progressed. Just google BRIC on Internet and you will find what India is.

      Work for L. K Advani as Home Minister and Deputy Prime Minister

      I do not remember if he has done anything good, and I do not want to criticize someone today for some reason and others have written enough about that.

  16. QUESTION:
    please give the expansions of A.G.M.A.R.K, S.A.P.T.A, & S.A.V.E?
    these expansions available in economics, political science. pls give correct expansions of these 3. According to karnataka Puc Board. pls…..

    • ANSWER:
      ***A.G.M.A.R.K
      AgMark is an acronym for Agricultural Marketing. This organization used to certify the food products for their quality. This has been superceded or dominated by other quality standards including the non manufacturing standard ISO 9000. Food and Drug Administration FDA also approves certain quality standards for food items. There is no specific mark on this item.
      We in India lack many things, which we deserve. One classic example is the certification process for food items. We eat lot of junks without any clue of its quality. No wonder why the foreign beverage companies do not bother to check their water quality. We need to have the awareness on the quality of food items we take. We need an immediate legislation like AgMark seals to be imprinted upon a quality product.
      Otherwise, we Indians will be always a lab rat for the developed countries.

      ***SAPTA
      The Agreement on SAARC Preferential Trading Arrangement(SAPTA) was signed on 11 April 1993 and entered into force on 7 December 1995 , with the desire of the Member States of SAARC(India, Pakistan,Nepal, Sri Lanka, Bangladesh, Bhutan and the Maldives) to promote and sustain mutual trade and economic cooperation within the South Asian Association for Regional Cooperation(SAARC) region through the exchange of concessions.

      The establishment of an Inter-Governmental Group (IGG) to formulate an agreement to establish a SAPTA by 1997 was approved in the Sixth Summit of SAARC held in Colombo in December 1991.

      The basic principles underlying SAPTA are:

      1. overall reciprocity and mutuality of advantages so as to benefit equitably all Contracting States, taking into account their respective level of economic and industrial development, the pattern of their external trade, and trade and tariff policies and systems;
      2. negotiation of tariff reform step by step, improved and extended in successive stages through periodic reviews;
      3. recognition of the special needs of the Least Developed Contracting States and agreement on concrete preferential measures in their favour; and
      4. inclusion of all products, manufactures and commodities in their raw, semi-processed and processed forms.
      So far, four rounds of trade negotiations have been concluded under SAPTA covering over 5000 commodities.

      Participant countries
      People’s Republic of Bangladesh
      Kingdom of Nepal
      Kingdom of Bhutan
      Islamic Republic of Pakistan
      Republic of India
      Democratic Socialist Republic of Sri Lanka
      Republic of Maldives

  17. QUESTION:
    please give the expansions of A.G.M.A.R.K, S.A.P.T.A, & S.A.V.E?
    these expansions available in economics, political science. pls give correct expansions of these 3. According to karnataka Puc Board. pls…..

    • ANSWER:
      ***A.G.M.A.R.K
      AgMark is an acronym for Agricultural Marketing. This organization used to certify the food products for their quality. This has been superceded or dominated by other quality standards including the non manufacturing standard ISO 9000. Food and Drug Administration FDA also approves certain quality standards for food items. There is no specific mark on this item.
      We in India lack many things, which we deserve. One classic example is the certification process for food items. We eat lot of junks without any clue of its quality. No wonder why the foreign beverage companies do not bother to check their water quality. We need to have the awareness on the quality of food items we take. We need an immediate legislation like AgMark seals to be imprinted upon a quality product.
      Otherwise, we Indians will be always a lab rat for the developed countries.

      ***SAPTA
      The Agreement on SAARC Preferential Trading Arrangement(SAPTA) was signed on 11 April 1993 and entered into force on 7 December 1995 , with the desire of the Member States of SAARC(India, Pakistan,Nepal, Sri Lanka, Bangladesh, Bhutan and the Maldives) to promote and sustain mutual trade and economic cooperation within the South Asian Association for Regional Cooperation(SAARC) region through the exchange of concessions.

      The establishment of an Inter-Governmental Group (IGG) to formulate an agreement to establish a SAPTA by 1997 was approved in the Sixth Summit of SAARC held in Colombo in December 1991.

      The basic principles underlying SAPTA are:

      1. overall reciprocity and mutuality of advantages so as to benefit equitably all Contracting States, taking into account their respective level of economic and industrial development, the pattern of their external trade, and trade and tariff policies and systems;
      2. negotiation of tariff reform step by step, improved and extended in successive stages through periodic reviews;
      3. recognition of the special needs of the Least Developed Contracting States and agreement on concrete preferential measures in their favour; and
      4. inclusion of all products, manufactures and commodities in their raw, semi-processed and processed forms.
      So far, four rounds of trade negotiations have been concluded under SAPTA covering over 5000 commodities.

      Participant countries
      People’s Republic of Bangladesh
      Kingdom of Nepal
      Kingdom of Bhutan
      Islamic Republic of Pakistan
      Republic of India
      Democratic Socialist Republic of Sri Lanka
      Republic of Maldives

  18. QUESTION:
    What is the problem in Nepal economy what should be done to solve it?
    Nepal is currently in big economic problem. Following are some major problems.

    1) According to government data GDP growth is below 2%. In my opinion actually it is negative.

    2) Inflation is very high. It is above 7.5% to 8%.

    3) Export is declining by 5 to 10 percent every year.

    4) Import is increasing 10 to 15 percent every year.

    5) There is very little new investment. Almost nil.

    6) Currency is fixed with Indian currency.

    7) Fuel prices are fixed since last two years. State owned Nepal Oil Corporation is loosing about 1.5 million US Dollars every month.

    8) Rigid labor policy. Minimun wages increases every year.

    9) Lot of labor force is going outside country every year for work.

    10) 40% to 50% government budget is based on foreign assistance.

    11) Enough foreign exchange reserve only due to remittance from outside.

    12) Political unrest.

    Anyone suggest me how to solve this economic crisis.

    • ANSWER:
      Nepal really does not have an economic problem at all but suffers from a political culture that is destroying the economy. Nepal has a beautiful landscape and the population is not high. Nepalese are generally capable of and willing to put in hard work. Nepal has a large market for its good in India. Many Nepalese work in India as if they are Indians. Nepal is very attractive tourist destination. Average per capita income can go up very high within a short period in Nepal. But this will not happen because the educated minds in Nepal are too much influenced by corruption examles in India and Bangladesh, as well as by the useless slogans they borrow from China. The greed for power and money among the educated elite and politicians of different varities is very high. That is why the Nepalese suffer. Nepal has so many advantages to grow economically at a fast pace, the politicians creates chaos, uncertainty and instability to suit their own interests. If the younger Nepalese realise this and gradually ease out the self-seekiing warring politicians from left to right, they will have changed the conditiond for economic regeneration of Nepal.

  19. QUESTION:
    mineral based industries in saarc countries?
    I am a school student studying in an I.C.S.E. affiliated school in Mumbai, India. I am have to prepare a project on,”Mineral based industries of SAARC and their impact on economy” and am researching for the above mentioned topic. Can you please help me do so by providing links from where I can acquire the most relevant information pertaining to the above mentioned topic. The scope of my project is as follows:

    * Interdependence of resources and industry
    * Distribution of minerals in India, Pakistan, Nepal and Bangladesh.
    * Minerals:iron ore, petroleum, limestone, manganese and natural gas(their occurance and location)
    * Names of such industries(public and private sectors), raw materials needed, factors affecting location, finished products, local and international markets
    * Impact of mineral based industries on the economy of a particular country.
    p.s.this is very urgent, i will be very greatful to any1 who provides me with the information.

    • ANSWER:
      lets see, in Pakistan,

      there are oil refineries, some oil pumps (most of oil related facilities are in Baluchistan).

      there are coal mines, again mostly in Baluchistan.

      Oh yeah, forget to say, 70% of rock salt (of entire World) is found in Pakistan, once again, mostly in Baluchistan.

      There are huge natural gas reserves, in Sindh and Baluchistan.

      Major natural gas areas are Sui, Badin, and Dera Bugti.

      Lots of onyx and marble is also found in Pakistan. I am not sure but Pakistan might also have some silver.

      Pakistan is highly dependent on its mineral sector as it is a crucial way of saving foreign exchange. Pakistan is especially dependent on oil and gas reserves and continuously tries to expand them. Despite huge gas reserves, due to the logistical problems involved and due to the demand being so high, Pakistanis are going to import gas from Iran.

      Natural gas is also used in cars in Pakistan (as a substitute for patroleum/diesel) and majority of Pakistani households (especially urban areas) use natural gas to prepare food.
      It is also used to heat homes and water.

      The coal obtained in Pakistan is usually of poor quality but nonetheless, is used for food preparing and for other purposes. Some powerplants also use coal.

      Since salt is a major ingredient in food, it is important for the economy as well.

      Finally, Pakistan also contains desert and sand is somewhat a mineral in a sense that it is used to prepare cement which Pakistan actively looks to export and to support its infrastructure and construction.

      I think in India, there are oil,gas,gold, and for sure, lots of pig iron. Also, in India, copper ore is found. Also, I believe there are Silver mines in India as so much silver is used in India.

      In Bangladesh, there is some oil (I think there is a oil rig there).

      In Nepal, there is lots of Iron and other mettalic deposits.

  20. QUESTION:
    Your opinion ?…From MSN.news?
    Friday, 08 February 2008
    South India on terror radar
    Bangalore: South India, by all indications, is the next terrorist destination. Intelligence agencies have sounded the warning that terror cells established by some terrorist outfits in South India are waiting for the right time to strike.

    Starting from the serial bomb blasts in Coimbatore in 1998, there were several terrorist strikes in major South Indian centres, including the twin bomb blasts in Hyderabad, bomb attack on Mecca Masjid in Hyderabad and the attack on the IISc campus in Bangalore.

    Besides political and religious reasons, there is evidently an economic angle to the attacks on IT hubs in South India. Hyderabad, Bangalore and Chennai, in the calculation of the terrorists and their sponsors in Pakistan, are attractive targets for economic terrorism. Being an important source of India’s foreign exchange earnings, such attacks are designed to keep foreign IT companies away from India and weaken India’s stock market, which attracts considerable overseas funds.

    The recent unearthing of terror training camps in the forests bordering North Karnataka following the arrests of three terror suspects–Mohammed Ghouse, Asadullah Abubaker and Mohammed Asif–is nothing but the tip of the proverbial iceberg.

    Two Pakistani national arrested in Mysore on Ocotber 2, 2007, had revealed their plans to attack the Karnataka Secretariat, Vidhana Soudha, and its annexe, Vikas Soudha, in Bangalore and the Central Institute of Indian Languages in Mysore.

    The attack on IISc campus in Bangalore on December 28, 2005, in which M C Puri of IIT Delhi was killed and four fellow scientists were injured, was not apparently a targeted attempt to kill any particular scientist. South India, in general, and Bangalore, in particular, have a large concentration of not only IT experts, but also famous scientists.

    The sleeper cells of pro-al-Qaeda jihadi terrorist organisations of Pakistan and Bangladesh operating in South India have come to the notice of the police. The most active among them in South India is the Lashkar-e-Toiba (LeT) followed by the Harkat-ul-Jehad-al-Islami (HuJI).

    Occasionally, there have also been reports of the presence and activities of other Pakistan-based organisations such as the Hizbul Mujahideen (HM) and Jaish-e-Mohammad (JeM).

    The sleeper cells of LeT in South India operate either as LeT or under other names such as the Muslim Defence Force in Tamil Nadu. They aim at “liberating” local Muslims from Indian control as a first step in their plan to “liberate” the Muslims of North and South India and incorporate their “homelands” in the so-called Islamic Caliphate advocated by Osama bin Laden.

    After the neutralisation of a LeT sleeper cell in Delhi in March last, the Delhi Police had repeatedly been sounding wake-up calls about the plans of the jihadi terrorists to target IT companies in Bangalore. Media reports have also been speaking of a number of hoax threats addressed to IT companies in Bangalore since March.

    The recent hoax message of an attempt by the al-Qaeda to blow up Parliament had also reportedly originated from Tirunelveli, a hotbed of the activities of the al-Ummah, which had organised a number of serial blasts at Coimbatore in February 1998. All these were not hoax calls from pranksters trying to create a sensation. These were probably hoax messages of suspected jihadi terrorists, apparently trying to test the reflexes of the security authorities and create in their mind a hoax fatigue.

    Intelligence sources feel that Kerala, which is turning into a potential hotbed of radical Islam, may provide a congenial ground for these terrorist organisations to establish hideouts and cells to operate in South India.

    What startles the intelligence sleuths is that highly educated youths are joining the terrorist ranks in a big way. K A Adhoni who was arrested by by Dharwad police for his suspected links with the banned SIMI, is an assistant executive engineer of a government department.

    But the sad fact is that the police and intelligence agencies are neither trained nor equipped to deal with the rising terrorist activities. Even after a lapse of two years, the police are totally clueless about the perpetrators of the attack on IISc.

    The Karnataka police plan to strengthen its anti-terrorist cell. Since the ground level intelligence gathering holds the key to fighting terrorism, a helpline would be set up so that the public could tip off the police about any suspicious activity. The number of police informants would also be increased.

    According to P K H Tharakan, Adviser to Karnataka Governor, a disaster management authority will be set up soon that will also develop strategies to tackle terrorism.

    Knee-jerk reactions apart, no state has yet evolved a proper mechanism to deal with terror. Lack of political will and weak policing help terror outfits to expand their base.

    MAJOR TERROR STRIKES IN SOUTH INDIA
    2007 Aug 25: 42 killed in twin bomb blasts in Hyderabad
    2007 May 18: 13 killed in bomb blast in Mecca Masjid, Hyderabad, during Friday prayers
    2005 Dec 28 : M C Puri, Professor Emeritus at IIT Delhi, was killed and four other scientists injured in attack on IISc campus in Bangalore
    1998 Feb 14 : 81 killed in serial bomb blasts in Coimbatore

    Source: P Venugopal India Syndicate

    Also Read:

    Pak has realised terror danger: US

    SIMI ban to continue: Govt

    Contribute

    Should terrorism be resolved politically or through guns?

    • ANSWER:
      Terrorism will never be resolved, sure guns work faster, but we suffer losing our men as well.

      What are some political ways to solve it.
      We live in an evil wolrd, and don’t believe it will ever change.
      ET


what is foreign exchange market and bangladesh

January 30, 2014

Emerging Market FX Questions

Filed under: Forex Strategies — Tags: , , — admin @ 4:43 pm

Having heard many questions being asked about EMFX (most of which have been answered by new Armchair EM Generals using their favourite  tools of rearview mirrors and extrapolationist rulers), we thought we would ask some much more important questions.

If you had 200 USDs worth of Turkish Lira in your hand would you :-

– Look at them as if someone had placed a turd in your hand screaming “Arrgh!”
– Place it in a Turkish Bank and watch your savings grow by a newly exciting 12% p/a
– Buy corporate bonds in Turkish company Arçelik and display them amusingly on your toilet wall.
– Convert them to USD and find you’ve now only got $100.
– Buy a small coffee in Bodrum and have to cover the difference in Euros.

If you had 200 USDs worth of Russian Rouble in your hand would you :-

– Look at them as if someone had placed a turd in your hand screaming “Arrgh!”
– Donate it to Mr Putin’s retirement home for sick puppies.
– Check your wallet for receipts to work out where the hell you were last night.
– Convert them to USDs and find that you have only $20 and a menacing look from Yuri the money changer.
– Buy a small bottle of water in Moscow and pay the difference in Euro.

If you had 200 USDs worth of South African Rand in your hand would you :-

– Look at them as if someone had placed a turd in your hand screaming “Arrgh!”
– Call up Charlize Theron and tell her dinner is on you.
– Convert them into USDs and promptly get arrested by over zealous FBI for money laundering.
– Buy shares in a local gold mine and go back to writing comments on Zero Hedge.
– Buy half a gram of Biltong and pay the difference in Euro.

If you had 200 USDs worth of Brazilian Real in your hand would you :-

– Look at them as if someone had placed a turd in your hand screaming “Arrgh!”
– Hide them from your wife.
– Ask if they were like Bitcoin as you’ve never heard of them.
– Sell them and buy US bonds in nice Mr Gross’s fund as he suggests.
– Buy a Ticket to watch the World Cup in Joao’s favela bar, paying the difference in drugs.

If you had 200 USDs worth of Indian Rupees in your hand would you :-

– Look at them as if someone had placed a turd in your hand screaming “Arrgh!”
– Have managed to sell insurance to 50 Sky customers in the UK from your cold-call center in Bangalore.
– Find your old rucksack and head off to relive your hippy days in Goa in a cloud of smoke.
– Trade the 3mth vs 6mth INR NDF as a rate hedge and find the spread cost you more than the face (due to market volatility sir sorry).
– Buy a British car company and be given a sweetener by the UK government of £1m to go with it.

If you had 200 USDs worth of Hungarian Florint in your hand would you :-

– Not worry because it’s a surplus country ‘innit.
– Resurrect the trusty solvency issue and scream “Arrgh!”
– Give them to Kinga the Au Pair to take home to her parents in the mountains.
– Arrange Dave’s stag (batchelor) party in Budapest (when there is no Dave)
– Buy a quarter bottle of Tokaj 7 puttonyos and pay the difference in Swiss mortgage bonds.

If you had 200 USDs worth of Chinese Renminbi in your hand would you :-

– Celebrate as it’s going to be worth even more USDs.
– Offer it to a passing group of HF managers who politely decline it already owning 300bio of their own.
– Buy USDs then USTs, not because you listen to PIMCO but because you are SAFE and its what you do anyway.
– Buy 50 LED lightbulbs off Alibaba and find they are rubbish.
– Buy a Louis Vetton bag from Beijing street hawker and borrow the difference from a local official.

And finally –

If you had 200 USDs worth of USDs in your hand would you :-

– Use them as margin to go short of all the above.
– Buy any of the above as one day you’ll need them as a tax haven.
– Rejoice you got a bonus no matter how small.
– Call your friends and ask if you left the other $800 on the bar.
– Buy a Senator funding the difference by issuing subprime debt that is bought by the Fed.

October 18, 2013

Regulator’s Perfect Market Hypothesis

Filed under: Forex Strategies — Tags: , , , — admin @ 4:42 pm

With so much talk about “Perfect Market Hypothesis” around after the recent  Nobel prize awards, TMM started to wonder what a perfect market would actually look like and swiftly came to the conclusion that it is all in the eye of the beholder. Considering that the regulators are now stamping their authority on western financial markets we thought it probably best to start with the Regulator’s Perfect Market Hypothesis as they are driving future direction.

Regulator’s Perfect Market Hypothesis

Market overview –

The market will be permitted to function on condition that:-

The market is not and has no derivative.
The market carries no risk for small investors
The market carries high returns for small investors
The market transfers risk away from the State to the large investor, unless that large investor is a State pension fund.
The market directly funds investment in national infrastructure.
The market is environmentally friendly.
The market generates significant tax revenue.
The market supports more regulatory and reporting staff than it does investors or operatives.

Regulation –

The Market will be bound by regulations flexible enough to be interpreted freely by the regulator but stiff enough to mean that breach is necessary to allow normal market function.

Information Dissemination –

Any person or body analysing the market will be deemed unfit to participate in the market.
Any analysis on the market shall be submitted to and be the sole property of the regulator for them to release at their discretion.
Information relevant to market direction will only be released at 9am each morning, two hours before market open.
No form of communication involving any aspect of the market is permitted other than that issued by the regulator.
Pricing information will be published daily to those who can produce evidence of having completed 200 hours community work in the prior month.

Trading –

All trades will  be executed on an Exchange.
No electronic trading will be permitted.
The Exchange floor will be populated by randomly, yet inclusively, selected people weighted towards those from disadvantaged backgrounds.
The market will trade between the hours of 11am and noon local time.
The Exchange will be run by a Utility company operating under a state umbrella.
Only one trade will be permitted per day per counterpart.
The Exchange will demand collateral of 110% of the face value of any open position and said margin will receive a rate of return of Libor -10% or −10% whichever is lower.
All trades will be subject to a 5% “Tobin” tax
Trades will be submitted to the Exchange that will then decide on the size and direction of the trade thus eliminating any advantage of proprietary knowledge.


Reporting –

Each trade will be manually examined for signs of malfeasance by a team of 10 regulators and only released for settlement once committee approval has been sanctioned.
Failure to report a trade due to regulator error will be deemed the responsibility of the investor if they are in the highest tax band.
Each trade will be published in 6ft high letters upon the residence of the transactor, together with their open position.

Price action –

        The Market will be permitted to rise on condition that –

All the population own it (Apart from Hedge funds, bankers and anyone else deemed morally reprehensible at that moment).
The rise creates greater tax revenues.
The rise does not create Inflation.
The rise does not create social inequality.
The rise does not create deflation.
The rise does not create a bubble (to be deemed as such at the discretion of the regulator) .

       The market will be permitted to fall on condition that –

It is solely owned by investors deemed as morally corrupt.
Hedge funds are bound to buy at the previous high from small investors.
Profits from the sales are used to create more nurses and teachers.
It is about to go up again.

Rider –


The market will not be referred to as a market but as a “growth and employment scheme designed to reduce risk whilst enhancing living standards, social mobility, equality and diversity through mutual participation and synergistic interactions”

Older Posts »

Powered by WordPress