A Chinese economist said on Monday that economy of the country would not crash but a shrinking trade surplus will likely keep its currency, the yuan, from appreciating over the next year or two.

It would be hard to argue that the yuan was undervalued when the trade surplus was only 2 percent of China’s GDP, Huang Yiping, economics professor at the China Center for Economic Research at Peking University, told a conference in New York.

“In the long run I think the currency should still appreciate but the potential currency appreciation might be more limited in the short term,” Huang said. “Be careful what you look for from China. I suspect the currency will be going down for a little while.” “Rebalancing is happening in China,” Huang said, citing a slowdown in housing and a dearth of solid investment opportunities in the Chinese stock market. “You don’t really want to keep your money in China.”

Tags: currency appreciation, investment opportunities, trade surplus

According to a survey released on Wednesday, Netflix Inc and Gap Inc were among the worst performers in customer satisfaction among the largest online retailers this holiday season.

The survey by ForSee found Overstock.com Inc came last out of the 40 largest online retailers, with a rating of 72 out of 100 and was down 4 points from last year. Amazon led ForSee’s survey for the 14th consecutive time.

ForSee said customer satisfaction is important for retailers as it leads to higher sales, more loyalty, and increased word-of-mouth recommendations.

“Netflix totally misread its customer base and is paying the price, damaging its brand among both consumers and investors,” said Larry Freed, chief executive officer of ForSee.

Tags: Amazon, customer satisfaction, Netflix, online retailers

Global Fund, the world’s largest backer of the fight against AIDS, tuberculosis, and malaria, recently said it was cutting new grants for countries battling the diseases and bringing in a new manager to ensure better administration.

“Substantial budget challenges in some donor countries, compounded by low interest rates, have significantly affected the resources available for new grant funding,” the Global Fund said in a statement after its board met in Accra, Ghana.

From Reuters.com:

The public-private Global Fund, based in Geneva, accounts for around a quarter of international financing to fight HIV and AIDS, as well as the majority of funds to fight TB and malaria. Founded in 2002, it raises money from donors every three years.

To date, it has committed $22.4 billion in 150 countries to support large-scale prevention, treatment and care programs against the three diseases. But in recent years it has struggled to persuade international donors to pledge enough money for its work, and has faced accusations of lax regulation of money.

The Fund commissioned a review of its procedures in March after reporting “grave misuse of funds” in four recipient nations, a move that prompted some donors such as Germany and Sweden to freeze their donations.

“As a result, the Global Fund will only be able to finance essential services for on-going programs that come to their conclusion before 2014,” Global Fund added.

Tags: AIDS, care programs, Global Fund, malaria, tuberculosis

On Tuesday, Bank of America Corp reversed course and scrapped plans to charge a monthly debit fee of $5, handing a victory to consumers and protesters angry with big banks.

The bank said the move was in response to customer feedback and competition.

From news.yahoo.com:

“It’s a sign of consumer power in action,” said Norma Garcia, manager of the financial services program for Consumers Union. “This is a sign of the marketplace working.”

Last week JPMorgan Chase & Co and Wells Fargo & Co decided to cancel test programs, while SunTrust Banks Inc and Regions Financial Corp said on Monday that they would end monthly charges and reimburse customers.

Banks began charging the fees to make up revenue lost to a law that slashes the fees they charge retailers when consumers swipe their cards.

“This is what the movement would consider a very, very small first step on rectifying an oppressive dynamic between the financial services industry and the 99 percent,” said Ed Needham, a spokesman for the Occupy Wall Street movement.

Tags: Bank of America, financial services, Wall Street

Asian stocks skidded lower on Thursday after being stung by the pessimistic assessment of the Federal Reserve about the U.S. economy and the perceived ineffectiveness of measures taken to kick start growth again.

The benchmark oil fell below $85 a barrel while the dollar strengthened against the euro and the yen.

From news.yahoo.com:

Investors were beginning to despair over the U.S. economy despite an announcement by the Fed of a new bond-buying program meant to stimulate lending and growth.

“What we could or should do has already been done — and it still hasn’t supported the market. Nothing can help the market. So it feels very dangerous,” said Linus Yip, strategist at First Shanghai Securities in Hong Kong.

“I expect panic selling,” he said. Then, “hopefully the market will find its short-term bottom.”

Energy shares in Australia plummeted amid fears of a global economic slowdown. BHP Billiton, the world’s largest mining company, lost 4.3 percent. Rival Rio Tinto Ltd. plunged 6.8 percent. OZ Minerals dropped 7.2 percent.

Japan’s Nikkei 225 slumped 1.6 percent to 8,598.32 and South Korea’s Kospi slid 2.6 percent to 1,806.62. Hong Kong’s Hang Seng dived 3.6 percent to 18,138.32. Australia’s S&P/ASX 200 was 2.2 percent down at 3,984.40.

Tags: Asian stocks, economic slowdown, Federal Reserve, Kospi

Providers of services like BlackBerry, Skype, and Gtalks in consultation with telecom operators will have to inform the government by March 31 by which the security agencies can intercept their services.

A senior official said, “The home ministry has asked the department of telecommunication (DoT) to ensure that all telecom operators submit their plans by the end of this month on when they can provide access to all services, including BlackBerry’s BES, whenever there is a necessity for the security agencies.”

From in.finance.yahoo.com:

He said that DoT had been touch with the telecom operators who, under their licensing agreement, were negotiating the details with the smart-phone service providers. The department would tell the home ministry about the deadlines, which would be final in terms of downloading “certain software” in mobile handsets itself to ensure interception, he added.

“If they cannot give access, they have to put off their services in India,” the official said. He explained that once the companies provide solution within the deadlines, the “retrofitment” or “download of certain software” in the handsets for legal interception would not be difficult.

The Centre will also put in place a security architecture for the telecom sector through which the government could put in a new facility to deposit open software in certain forms and new testing facility (labs).

Meanwhile, articulating government’s security concerns, home secretary G K Pillai on Monday said that the terrorists these days were using Internet and mobile communication as the “most potent tool” to rope in youths and carry out espionage operations in the country.

“Terrorist attacks like that in Mumbai were facilitated by communications from the handlers over Internet and Internet has become one of the most potent recruitment tool for extremists and terrorists,” he said at a conference on the challenge posed by cyber crime.

Pillai said, “Because the bulk of servers are outside India, when you want help, when you move to law enforcement agencies of other countries, help comes sometime but it comes very late, it’s delayed and many times they are not willing to give us information citing privacy issues.”

Tags: BlackBerry, open software, Skype, telecom operators

There is a huge dip in the sales of wristwatch nowadays. The owners are getting worried for their declining business as the new age technology takes the hold in the market. Today youngsters are preferring a cell phone, a palmtop, e-readers , I pods etc as the fashion accessory rather than a wrist watch. The lifestyles now demand a much higher technology as an accessory for youngsters.

From: in.news.yahoo.com

New Delhi, Jul 4 (PTI) With cell phones, palmtops, e-readers, purses, bracelets, ipods all flashing the time of the day, just who needs a plain old wristwatch, claims Gen Y.

The ubiquitous wristwatch worn by the billionaire to the daily wager as more than an accessory is now being discarded for spanking new age devices that double up as time keepers.

Youngsters say conventional watches are an “extra burden” on their wrists. Schoolgoers however continue to opt for the sporty and flashy models of well-known brands. This they say is just because mobile phones are banned in schools and examination halls.

“I wear a watch mostly during exams in school but have to take extra care to not to break it while playing or exercising. For tutions, I take along my mobile which serves all my purposes”, says Ritvik, a 17-year-old high schooler.

A shopkeeper who retails watches in Delhi says,”We are worried about our declining watch business due to the excessively growing demand for mobile phones that are getting cheaper by the day.”

Changing lifestyles and mindsets towards standard working hours has also led to the ever growing irrelevance of the time machines. College students say they are least interested in buying a watch unless it adds to their style statement.

“It is not necessary to get up early now, so why would I need a watch? If required, I can set up alarm on my mobile phone, use the internet, sms my friends, listen to music…a watch cannot provide so much facilities!,” says Pallabi, a final year student of Delhi University.

Die hard loyalists however find it hard to justify the absence of the wristwatch.

Jickson, a sophomore student says, “I believe a person without a watch is a careless or carefree guy. I just cannot leave my home without a watch!”

While the older generation is happy to flaunt their priced possessions like the HMT, younger counterparts prefer to flaunt the latest trendy designer look at the corporate level.

“I buy watches to match them with my clothes but for time keeping, there are other devices as well. Even overhead clocks at the metro station can do me that favour,” says Ritika, a young journalist.

Antique watches are still prized by many as good gifting options and collectors flaunt them at social gatherings but few use it for more than just an accessory for beautification.

The wristwatch has now taken a back seat and are just mere an accessory and not a necessity. As a youngster mentions that to keep time there are lot of other devices as well. To an extent there is a craze for priced possessions and branded wristwatches among adults so that they can happily flaunt their wealth.

Tags: Antique watches, fashion accessory, HMT, lifestyles, mobile phones, sales, technology, wristwatch

India won the Asia cup 2010 against Sri Lanka after a span of 13 years. The technical performance by Indian bowlers stressed Sri Lankan batsmen. Ashish Nehra was a star among the bowlers with 4 wickets in his hand giving 40 runs. Although Indian batsmen came under pressure when victory. The top four of the list were out within just 167 runs. However the next ones in the league took India to the proud victory .

Bowlers set up India’s Asia Cup victory

Indiaabroad, Indo Asian News Service, 24 June 2010

Dambulla, June 24 (IANS) A clinical performance from the bowlers saw India crush Sri Lanka by 81 runs and win the Asia Cup cricket tournament here on Friday.

It turned out to be a lopsided contest as the Sri Lankan batsmen, chasing 269 runs for victory, surrendered without much of a fight in the face of some brilliant bowling by India .

Ashish Nehra was the pick of the bowlers, claiming four wickets for 40 runs and single-handedly running through the strong Sri Lankan top order.

Zaheer Khan (2-36) and Praveen Kumar (1-29) proved the ideal foil while spinners Ravindra Jadeja (2-29) and Harbhajan Singh (0-30), too, played their part.

India had lost to Sri Lanka in the last league match on Tuesday when the batting misfired, but they picked themselves up with a commanding performance Thursday. India , thus became the Asian champions after 1997, when they beat the same opponent in the final.

‘We needed to raise the level in the final. It is good to win a final after a long time. We do not really do well in the finals and it is something we talked about,’ said Indian captain Mahendra Singh Dhoni , who took four catches and also stumped Nuwan Kulasekara.

‘We were happy putting 268 runs on the board. We wanted to dismiss Tillakaratne Dilshan early. He can score 30-40 runs in just a matter of few overs. Zaheer and Ashish bowled one of the best spells under the condition. The fast bowlers were impressive and they out Sri Lanka under pressure,’ he said.

It was an outstanding show from India , who twice lost to Zimbabwe with a young side last month drawing much criticism.

The only time India looked under some pressure was when two quick wickets saw India reduced to 167 for four. Both the set batsmen Dinesh Karthik (66) and Dhoni (38) were out within a space of 21 runs, but Rohit Sharma (41) and Suresh Raina (29) held the fort with a 50-run stand for the fifth wicket.

Ravindra Jadeja later chipped in with 25 runs.

The Indian bowlers never allowed Sri Lankan chase to take off.

The dangerous Tillakaratne Dilshan left in the very first over with just five runs on the board when he mistimed a pull shot to give Praveen Kumar his first wicket.

Tharanga and Kumar Sangakkara batted for five overs, but could not break the shackles.

Tharanga was bowled by a beatiful Zaheer delivery that cut back to shatter his stumps as he shouldered the ball.

The reliable Sri Lankan pair of Sangakkara and Mahela Jayawardene was separated when Nehra had the latter caught behind and then two balls later immediately got rid of Angelo Mathews, who gave Dhoni his second catch.

Nehra removed Sangakkara next to leave Sri Lanka struggling at five for 51.

Thilina Kandamby (31 not out) and Chamara Kapugedera (55 not out) tried to revive the innings with a 53 runs stand, but Indian spinners kept the pressure on the two batsmen.

The partnership was broken when Kandamby was run out and from there on, it was just a matter of time for India to mop up the Sri Lankan tail.

This victory was achieved in the captainship of Mahendra S. Dhoni who struggled together with the team where the bowlers bowled out the way ahead of batsmen.

Tags: Ashish Nehra, Asia cup, batsmen, bowlers, Dhoni, Dinesh Karthik, Harbhajan Singh, India, Praveen Kumar, Ravindra Jadeja, Rohit Sharma, Sri Lanka, Suresh Raina, victory, Zaheer Khan

Gigaset Communications, the German cordless phone manufacturer, has appointed Shahzad Ahmed as chief executive officer for Middle East Africa and India.

The appointment followed the launch of operations of the company in many locations around the region.

From Economictimes.indiatimes.com:

Headquartered in Munich, Germany, Gigaset Communications is one of the world’s largest manufacturers of cordless phones and a market leader in Europe for cordless DECT phones.

In his function as CEO, Shahzad is responsible for business operations in the region, which include sales and marketing management, as well as all other key functions.

Shahzad has over 20 years of international marketing & sales experience with multinational electronics companies.

Before joining Gigaset Communications, he has worked as head of marketing in Samsung, Siemens mobile, and LG.

Shahzad holds a Master of Business Administration degree and has been based in Dubai for the past 11 years.

Outlining his plans for the future, Shahzad said “We intend to be a market leader in cordless telephony not just in the UAE but in the entire region. We also intend to establish our presence at the retail as well as the operator level in all these markets.

Shahzad said that he is proud to be associated with a company that believes in innovations in technology and growing at 40 per cent in the Middle East market.

Tags: business operations, marketing, marketing management

The marketing plan is an excellent tool for identifying and developing strategies.

It is very well said that “If you don’t know where you are going, you’ll probably end up somewhere else!” So to avoid getting into losses by your company ‘continues reviewing of marketing strategies’ is advised.

ADVANTAGES:-

• With changing times it, identifies needs and wants of consumers.
• Demand of developed and better facilitated product range.
• Generating big cash flow with least investment plan.
• Analyzes the competitor’s power and helps you get above it.
• Identifies innovative promotion ideas for better products/services.
• Identifies the new group of consumers.
• Allows the firm to rethink about the marketing strategies being ruled.

DISADVANTAGES:-

• Identifies any loop hole in business skills.
• Analyses any faulty marketing decision due to any discrepancy.
• Creating mistakes in financial department of the firm.
• Overall weak business planning and infrastructure.

Google helps you achieve a better target by simply learning the new trends in online businesses.

Tags: business skills, investment plan, marketing decision, marketing strategies, product range, promotion ideas