Say’ING hello to Turkey...

ING, the Dutch financial services giant proposes to enter the Turkish banking sector by investing $2.67 billion in cash to acquire Oyak Bank. It was also planned that the financial bigwig would invest swiftly for extending its footprint in terms of market share by opening more branches, improving marketing and escalating internet banking. The Dutch banking group while continuing to focus on its core strengths of pension and emerging markets, had till now opposed large acquisitions. Last year’s ABN Amro fantasy, a Dutch banking rival now in the middle of a takeover, changed all that though.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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They are the men who gave Hollywood its brawn

Curiously, both actors are noted fans of smoking cigars, co-owned ‘Planet Hollywood’ at one point of time and both have been involved in drug controversies at various points in their careers. And what’s more, both have characters based on them in what is arguably TV’s most popular series of all time – The Simpsons. The voice of Lou the Cop is based on Stallone’s, and the character Rainer Wolfecastle is based on Schwarzenegger. Both have featured prominently in nominations for the Razzies – the awards that recognize the worst in Hollywood, nominated as worst actors multiple times but Stallone has fared better at the Academy Awards, with his movie Rocky winning the best picture (and best editing and direction as well) in 1976 and landing him nominations for Best Actor and Best Original Screenplay. And their political ideologies converge too, Schwarzenegger is the Republican Governor and Stallone is a staunch Republican as well.

Although they have tried their hands at direction, different roles and off –beat storylines, their raison d’etre has remained the quintessential action flick. Two heroes who played characters that became legends, and became an inspiration themselves showcasing how to overcome the most resounding odds to succeed! Like Rocky they are indefatigable, and like Terminator unstoppable!

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

China allowed their currency to appreciate

As far as trade is concerned, Asian internal trade (exports), excluding China, increased from 25.2% to a meagre 26.4% from 1996-2001 to 2005-06; & in case of imports, from 24.4% to 26.5% for the same time period. Even China’s share in exports with countries like Japan, Hong Kong, South Korea & Singapore has decreased over a period over 10 years from 1996 to 2006. Since China has over the years replaced a number of emerging market economies in the markets of advanced industrial countries, China has a very crucial place in the world economy & exercises a significant influence on global trade. As evident from the graph (below right), China’s trade with the US & the EU has grown phenomenally, so has the deficit of these countries (which China shrewdly achieved by keeping its currency pegged to the US dollar).

After much coercion from the yankees, China allowed their currency to appreciate. Did it work? Last year, the US ran a trade deficit of $230 billion with China (and an overall deficit of $800 odd billion). Horrifyingly, despite the currency juggling, according to the recent data available, the US deficit with China has already reached $76.3 billion in this year till April, 18.5% more than the corresponding period of the previous year. Same is the case with the European Union. Figures show that EU’s trade deficit is on course to reach €170 billion this year. On the other hand, China had a global trade surplus in the month of May of $22.4 billion – 73% up from May 2006. According to the estimates of Mark Williams, analyst with Capital Economics, China is on course to have a surplus of $320 billion in 2007.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

Make oil & Gas supplies consumer & climate friendly

Labayendu Mansingh, former director general of foreign trade, has being appointed to head the Board. Other members of the board are LK Singhvi, former chief commissioner of Income Tax in Delhi, BS Negi, former director business development of GAIL & Sudha Mahalingam, a noted academician & energy expert.

The board’s agenda is well defined in the Act. “The protection of consumer interest will be paramount for the board. We will ensure that the policies are implemented in letter and spirit by all parties concerned,” said Sudha Mahalingam, one of the members of the newly constituted board, in an exclusive chat with B&E. Apart from keeping consumers in the mind, the Board will also concentrate on creating a competitive environment in the Petroleum & Natural Gas sector. The quest to meet India’s growing energy needs and ensuring un-interrupted supplies do not result in destruction of the environment, should always remain on the minds of the Board members.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative