Friday, December 21, 2012

The World as hostage

The rise of OPEC has been an abiding curse for the world

One abiding fantasy in the Arab world since 1948 has been the destruction of the state of Israel, many legitimately angry at the treatment meted out to Palestinians and some nursing deep religious and ehtnic hatreds. In 1973, an America supported Israel fought yet another war with neighbouring Arab countries and won a convincing victory. After the 1967 disaster, this repeat pulverised the Arab world and even the autocratic rulers of these oil rich kingdoms and sheikhdoms realised that their thrones were in danger if something was not done to mollify the Arab street. One direct result was the Organisation of Oil and Pteroluem Exporting Countries (OPEC) imposing an embargo on shipments of crude as well as refined oil.

The next step was a multi hundred percent hike in the price of oil. The global economy was literally shaken to its very foundations as a result and complacent American consumers realised that they had to wait for hours to get their cars refilled with ‘gas.’ But the global economy did adjust to higher oil prices while all -almost all-oil exporting countries have started failing as modern functional societies as a result of massive dollar revenues coming from oil exports. Iran, Saudi Arabia, Russia, Iraq, Sudan and Nigeria are just some examples of what happens to societies when easy dollars are used by autocratic regimes to buy peace and promote fundamentalism of one kind or other. Can you imagine a born rich Mohhamed Atta of Saudi Arabia flying aircraft onto the World Trade centre without oil money lurking in the background?


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
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Wednesday, December 19, 2012

THIRD WORLD: MALTHUSIAN

Malthus debate surges on today

Take for instance, the third world countries or the third world market, where developing countries are continuously coming out with new and innovative products and technologies due to scarcity of resources. Well, aren’t India and China considered markets of the future because of their population and its growth? Isn’t it better to be then a supremely crowded third world country than a first world country like Japan or Switzerland with falling population?

The answer is a categorical no. Firstly, to focus on population is to wrongly focus purely on GDP growth as the basis of calculating development rather than HDI or Lifestyle Index. Secondly, China and India have had [and still continue to have] the maximum number of people in the world living below the poverty/destitution line. Thirdly, economic development in such countries have been primarily unequal over generations. Clearly, it is better to be a highly developed, rich [5th wealthiest], yet recession ridden lowly populated [4.6 million] Singapore than to be a 1.2 billion plus people country with a 7% GDP growth rate, having 200 million and more defecating in the open...
 

Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Sunday, December 9, 2012

Political opportunism over economic sense

That’s what the UPA did with the inflation figure, and thus favoured political opportunism over economic sense, says GYANENDRA KASHYAP

The high base effect also has a role to play in this case as inflation stood at 7.78% during the corresponding week of the previous year.” A quick reality check reveals that the consumer basket is consistently moving northwards while the headline inflation moves southwards. Picture this - inflation rate (as on March 7, 2009) for sugar, salt, pulses, cereals, milk and spices was respectively pegged at 22.37%, 11.07%, 10.97%, 10.16%, 7.1% and 6.23% – now that’s the bitter reality.

The miniscule weightage attached to this category and the high price that these command is subtly dwarfed by the inclusion of numerous other commodities, which strictly speaking do not qualify to fall within the ambit of essential goods. The current basket of WPI does not include power bills, medicines, education and transport, et al (which, in real sense, involve a heavy outgo); but is tilted more towards manufacturers so that the behaviour of the index for this group largely determines the movement of the overall index. Now that’s the manipulation government has been resorting to; had it not been so, the headline inflationary picture could well have been altogether different. The government plays with WPI while what matters to the ‘aam aadmi’ is CPI. Consider this; food prices have about 60% weightage in CPI (AL and RL) while its weightage in WPI is around 15%. Quite a sham, unless the government expected consumers to drastically alter their spending patterns!


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Friday, December 7, 2012

An Islamist conspiracy!

The main aim of the recent BDR mutiny in Bangladesh was to grab power and nothing else

Was the recent bloody mutiny by the Bangladesh Rifles (BDR) simply to demand better service conditions? Well the perceived wisdom is that events much greater than the economic grievances that sparked the two-day running battle between the BDR and the Bangladesh army in Dhaka’s urban centres and some other areas. The BDR is said to have been vying for participation in the lucrative UN peacekeeping missions and restructuring of the forces. But many Bangladesh watchers are now arguing that the scale of the rebellion belies the staid notion that only economic demands were behind it. What's more? Such concerns could easily have been addressed by employing conventional trade union pressure tactics. But the BDR unleashed a virtual reign of terror, holding several army officers and their families hostage and mowing down a good number of them. It is just not possible – indeed even probable – that the upheaval was driven with the simple aim of grabbing political power? A great deal goes to support such a notion. The timing of the revolt itself gives one pause – coming as it did at a time when Sheikh Hasina was still to settle down in the PM's office. It came on January 6, immediately after her swearing-in. Her party, the Awami League, had swept the long deferred general elections, thanks to the military’s meddling.

The strong suspicion of a deeper conspiracy comes from reports that the BDR mutiny had the secret backing of a section of Bangladesh’s army officers, including Army Chief, Moeen Ahmed. Ahmed is widely perceived to be a secular officer, who had been put out of reckoning.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Thursday, December 6, 2012

On the hot seat till 2049?

Chavez may have won the right to relections, but it would be in vain if he cannot revive the economy

Hugo Chavez can in a way be called the successor of Fidel Castro in Latin America. Much to the dislike of his critics and to the liking of those who have blindly supported him all the way, Hugo Chavez, President, Venezuela on February 15, won the referendum campaign that allows him to contest the presidential elections in 2013. Just after 15 months, when the referendum ending the fixed tenure clause for president was passed, Venezuelans have given Chavez a go through to run for president for the next term as well.

Chavez has won the polls and not with a slim margin. Official figures suggest that he won 54% of the votes against 45% that did not support him. His opposition, which has understandably been hit where it hurts the most, calls the whole election process a sham. And why not, because it has been a fight against Chavez and his ideologies, which the opposition has fought many times but rarely won.

Chavez lost the vote over a year ago, but has redeemed himself, although there are allegations of his misusing government machinery for the campaign. Socialism will now have a new position and also a stronger hold. What Chavez calls “21st century socialism” now clearly has the support of the people. As much as Chavez’s contribution to the country and its people has been the reason (the poverty figures have fallen in Venezuela from 54 %in 2003 to 26% in 2008), lack of proper leadership in the opposition has also made things easier for him.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Wednesday, December 5, 2012

USA: OBAMA'S NEW TEAM

Obama's brigade promises a fresh perspective to the Middle East issue, but is treading on a difficult terrain

Mitchell, in the past, had led the peace initiative in Northern Ireland. Clinton also named former US Ambassador Richard Holbrooke, who negotiated the Dayton Accords to end Balkan Wars. Mitchell has been nominated as “special envoy”, while Holbrook bears the label “special representative”.

Even though Obama seems to have fallen very much to the contour held by the Bush government (considered pro-Israel) on the Palestinian issue, he appeared to demonstrate a better understanding for the predicament of the Palestinians and presented an uncommonly comprehensive sketch for securing the current Gaza armistice. Obama also expressed concerns over the widespread belief in US that only taking a “pro-Likud” approach can assure peace in west-Asia. Obama added, “One of the things that struck me when I went to Israel was how much more open the debate was around these issues in Israel than they are sometimes here in the US.” The choice of Mitchell conveys that US will be back as an honest negotiator in the Middle East conflict. But that does not necessarily mean that US will be an effective mediator, after all, soft power has its limits.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Monday, December 3, 2012

Companies can create win-win situations for one and all

His mantra is that through strategic CSR, companies can create win-win situations for one and all. However, L.N.Mittal reiterates that the company’s main responsibility is towards its shareholders; as told to B&E’s Ruchika Chawla

B&E: Isn’t it the Government’s responsibility to provide “public goods” and words towards social welfare? Why should it be that big/rich companies are being “pressurised” to undertake CSR?
LNM: In today’s society, business has an influential role to play in the world. Of course our first responsibility is towards our shareholders and to create value. But we also have a responsibility to our stakeholders – whether employees, customers, governments or communities. And this is what good corporate responsibility is about. At ArcelorMittal, we don’t feel that this is something we are pressured into doing. Rather it is an integral part of our approach to doing business that we believe is an important component of enabling us to perform to the best of our abilities. The best example I can give of this is in Kazakhstan. We own and operate the steel plant, but we also renewed the tramways, the power plants, the hotels, the stadiums, and developed social activities such as children’s camps. If we had not done this when we acquired the plant, the town would not have the correct infrastructure to support the steel plant. It’s a win-win situation for everyone concerned. Today, the steel plant runs efficiently and we are able to positively impact the livelihood of the community more broadly while continuing to improve the plant’s efficiency. This is what good Corporate Responsibility is all about.

B&E: There is a theory that the only objective of companies is to generate profits and maximise shareholders’ wealth. Do you agree with this?
LNM: Fundamentally businesses exist to make profits. And rightly so, because without profits you have no business and no economic growth and development. If you are a public listed company, your shareholders expect you to deliver strong returns on their investment. But simultaneously we work to ensure that our approach never compromises long-term sustainability for short-term profitability. At ArcelorMittal we take the long view espouses in our brand promise of “Transforming Tomorrow” – of thinking not only of today but also the generations to come. This means taking into consideration areas such as corporate responsibility, health and safety, the environment, human resources and research and development. All of these areas are critical in ensuring not only a profitable company that benefits our shareholders but a sustainable company that also benefits our stakeholders.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Sunday, December 2, 2012

King David Hotel

King David Hotel is the most spectacular super deluxe hotel in Jerusalem and has the best location in town. Attracting vacationers to business travellers to celebrities, King David Hotel offers an extraordinary combination of tradition and luxury. The hotel preserves the true essence of Jerusalem in its warmth, hospitality and tranquil environment.

THE VIEW: Situated in the heart of the city, King David Hotel offers its guests the pleasure of viewing the city turn golden as the sun kisses the horizon in this legendary Golden City.

ARCHI TYPE: This luxurious hotel is a historical landmark and was used by the British Army in olden days. Its architecture and decoration is reminiscent of the period of King David with influences of Assyrian and Hittite eras.

BON APPÉTIT: While you are in Jerusalem it is a perfect opportunity to stimulate your taste buds and indulge in a sinful multi-course Sabbath meal. Jewish dishes from around the world are the chef’s favourite on traditional Friday nights at the King David Hotel. Also sit back and enjoy cold salads, light drinks and alcoholic beverages. Hot dairy specialities are other steaming hot favourites in and around the city.

AROUND THE CORNER: The Hotel is situated 18 miles from Ben Gurion International Airport. The Old City can be easily toured on foot. Other worthwhile sites would include the Church of the Holy Sepulchre, Via Dolorosa and the Dome of the Rock – the third-holiest Islam shrine in the world. Apart from being a religious retreat, Jerusalem has much more to offer – a splendid nightlife while jazz clubs, trendy restaurants, cinemas and theatres are sure shot entertainers.

Read more..... 

Source : IIPM Editorial, 2012.An Initiative of IIPM, Malay Chaudhuri

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