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The Corporate ScoreCard

"The Results 2013" was an analysis of various development programs by the World Bank The aim of the programs is to achieve the Millennium Development Goals. A few are listed below. • Recruitment and training more than 4 million primary teachers • Training around 2.7 million health workers • Antenatal care to more than 188 million women • Construction/ Rehabilitation of more than 189000 kms of roads • Access to improved water source to 144 million people • Increased lending The Corporate Scorecard has three parts, Tier 1, 2 and 3. Tier 1 includes the Development Context, Tier 2 has Country Result supported by the banks, Tier 3 has Development outcomes and Operational Effectiveness Tier 4 talks about Organizational Effectiveness and Modernization. Development Context Tier ) In this the indicators are Growth, Jobs Property, Institution and Governance, Human Development and Gender, Sustainable Development, Finance Pri8vate Sector Development and Trade. This incl...

G-SIBS in 2013 a Report by FSB

The Financial Stability Board headquartered in Basel, Switzerland monitors and recommend amendments to the financial system. The members are G20 economies, European Union and former Financial Stability Forum. FSB released this year’s. G-SIBS (Global Systematically Important Bank list in November. This report is about the amount of capital these banks have to hold to face any economic crisis. This report cautions banks on the additional amount of capital they have to add up to face any financial downturn. HSBC and JP Morgan Chase have to add an extra capital up to 2.5%. Barclays, Citigroup, BNP Paribas and Deutsche Bank are running short of capital by 2.0%. Bank of America, Credit Suisse, Goldman Sachs, Group Credit Agricole, Mitsubishi UFJ FG, Morgan Stanley, Royal Bank of Scotland and UBS has to add their capital by 1.5%. The last influencers on the world economy are People’s Bank of China, Bank of NewYork Mellen, BBVA, Groupe BPCE, Industrial and Commercial Bank of China LTD, IN...

A Report on Digital Currencies

As the Bitcoin creating so much of buzz in the market it would be interesting to know the virtual currencies which hit the market and how they performed and their result in the long run Beenz 1998-2001 Founded in 1998, in London by Charles Cohen, Beenz.com offered online currency which could be spending with participant merchant. One among the partners was Mastercard. Beenz.com raised 100 million from big companies like Oracle, Gucci, PPR and, Italian bank mogul Carlo De Benedetti. Purchasing of the currency was at local rate fixed by the company. The failure of Beenz started when people loosing confidence and miss selling. The company shut down all the operations in 2001. Flooz A year after the launch of Beenz.com, Flooz based in the New York went online for internet traders in the form of promotional bonus which can be used for merchandising purposes. The company had to shut down in 2001 based on the allegation by FBI that Russian stooges are misusing the credit card number...

Bitcoin is it a Future Currency?

Bitcoin is growing in a fast pace with around 12 million Bitcoin wallets by November 2013. This first ever decentralized crypto currency was published by Satoshi Nakamoto in 2009. He left his virtual presence in 2010 leaving many concerns behind. Even his name SATOSHI NAKAMOTO is believed to be coined from few companies Samsung, TOSHIba , NAKAmichi, and MOTOrola!!!!!!!! The transaction in Bitcoin has grown tremendously over the years and even banks are speculating that Bitcoin will replace real money very fast. The concern is that Bitcoin is created in such a way that the number of Bitcoin will never exceed 21million and 75% is already been created. The value of Bitcoin in 2011 was $1 but it has risen to $ 140 recently. This currency system is very much unlike the normal currency system and it does not have a Central Bank or central repository. Surprisingly Bitcoin economy will never come across deflation since it is not standard monetary unit of measurement of value/cost of goo...

The Maxed Out Report on British Debt

Borrowing more and less savings!!. The Centre for Social Justice recently released a report called Maxed Out reveals a picture of a struggling British. Low income and low savings are affecting vulnerable groups like unemployed, aged people, single parents and people with low disposable income. These people are forced to spend the majority of their income for the basic needs. According the latest reports in 2013 the amount of national debt which Britain hold is £1.43 trillion and this is very much equal to the nation’s whole economic output indication towards life of people are going …. The growing debt is causing disputes in the family and thus it is affecting the society also. According to this report more than 7 million people are using various credit methods like payday loans, home credits and pawnbrokers. Surprisingly 1.4 million people do not have a bank account for the transaction and they are not taking part in the mainstream financial transaction! This results in poor famil...

Indian Vision on Healthcare

Published in Medgate Today . View it Here http://www.medgatetoday.com/past-issues-nov-dec%202013.html The World Economic Forum report on healthcare industry is all about its vision on the healthcare industry. The healthcare industry has tremendously grown since the last two decades especially in OECD countries it has grown beyond the GDP. This report encourages to look beyond the traditional healthcare trends and to adapt the changes which science and technology brings in. The truth is that healthcare industry is affected by the austerity measures established by various countries due to the economic crisis. The success in the healthcare industry has given new challenges like • Chronic illnesses • Costly healthcare • Prolonged treatment Over the last 50 years the average annual rate of healthcare has grown to 2% and by 2050 the annual average cost is expected to grow by 50-100%. Healthcare system not only includes treatment and care but it includes policies, products and serv...

The Billionaire Report

The world may be frying their brain behind the economic crisis, but for the billionaires crisis doesn’t matter. The number of billionaires has increased and so has the wealth creation.Billionaires are originating from new areas but most of them are based in London and New York. The Wealth Report by Wealth –X says that the number of people with US$30mn or more in net assets has grown by 5% in 2012 or their number is assumed to be 8,700. Over the period of the next 10 years, there would be an addition 95,000 people are supposed to be will be added to the list of billionaires with a rise of 50% in the current net asset value of US$30mn which makes the total number of billionaires to 285,665 As per the Wealth Report by Knight Frank, there will be a growth by 96% in the number of billionaires in North America from the period of 2012-2022. HNWI population will grow by 32% in same time frame. In the US itself number of the billionaires will grow by 103%. Africa had 35 billionaires in 2...

The Financial Literacy: Is it Just a Dream for Woman?

The VISA International Barometer on Women’s Financial Literacy does not give us a positive notion. The survey was conducted among the 25,000 women from 27 countries. The questions included in the survey were Do you have and follow a household budget? According to this survey the initiation for the budgeting of women were lower than men. Women from Brazil, the US, South Africa and Canada fared better in having and following a household budget. Women from Pakistan and Serbia found to be in the bottom of the list.. Russian and Belarus woman almost follow their budget if they have. Lack of fund found to be the main reason behind not having a budget. How many months’ worth of savings do you have set aside for an emergency? More than 3 months of savings were accrued for emergencies by the women in Taiwan, China and Hong Kong. They found to be more cautious about the emergency. Well, men are better in this also but only women in Australia succeeded men in this. Generally Asian w...

The happiest countries in 2013

The survey conducted by the UN on the happiest countries has identified Denmark in the top position. The scoring was based on the GDP, life expectancy, social support, corruption and freedom. The welfare model is the key factor behind the growth of Denmark as the happiest country. According to this welfare model, pension schemes are implemented by the state, the state supports the maternity and the paternity leaves and unemployed and disabled are provided with help and benefits. The income tax is 60% and this is the same rate of interest of other social taxes. The VAT is 25%. The tax amount is distributed among the needy. The Flexicurity which is a combination of flexibility and security focusing on the hiring and the firing system in the labor market. Job loss which is very common in Denmark is compensated with creation of new jobs. Every year around 250000 jobs are smashed and nearly 800000 people change their jobs every year. Along with frequent hiring there are various schemes t...

The Remittance Report

Remittance to the developing countries has increased by 60% over the past 14 years and the center of this growth is the people from East Asia and Pacific region. By 2013 the remittance rate is expected to increase by 7.4% which makes a total of $115 billion. The EAP region has around 35 million people who have migrated to different countries. The number of female migrants is more than males. India with $69 billion is at the first place. India is followed by China $60 billion, Philippines $24 billion, Mexico $23 billion, the Egypt and Nigeria $21 billion each. This report was released by World Bank’s Migration and Development Brief. Remittance to the Europe and Central Asia has grown to 10.3% and will reach $43 billion in 2013 with contributions from Moldova 25%, Tajikistan 48% and Kyrgyz Republic 30%. In Latin American countries, remittance is expected to be $61 billion in 2013 which will be 2.5 % more than that in 2012. The Syrian refugees before the current Syrian civil war we...

Government Shutdown and Obamacare

Government shutdown is a situation where Congress fails to pass authorization for the funds which is sufficient for the administration. What is the reason for the current shutdown? It is Affordable Care Act (ACA) or The Patient Protection and Affordable Care Act (PPACA) which is better known as Obamacare. And why the Republicans hate Obamacare? The truth is that no one dislikes the plan but it came through Mr Obama and that is the foremost reason for the hatred. In Reuters/Ipsos poll says most of the republicans support many provisions of Obamacare but the way Mr Obama and his ministry conveyed was wrong Few provisions of Obamacare: • Creating an insurance pool where small businesses and uninsured have access to insurance exchanges to take advantage of large group pricing benefits • Providing subsidies on a sliding scale to aid individuals and families who cannot afford health insurance • Requiring companies with more than 50 employees to provide insurance for their employees ...

Results of MasterCard Survey 2013

The MasterCard Financial Literacy Index brings in a lot of surprises about the financial literacy rate of various countries. The survey conducted among 12,205 respondents aged 18 – 64 in 27 countries across Asia/Pacific, Middle East and Africa (APMEA) between April 2013 and May 2013. As per the survey New Zealand is the most financially literate country in the Asia Pacific region. Second comes Singapore and Taiwan is third in Asia Pacific Region. This survey had three components and separate results were generated on the base of these three. In Basic Money Management New Zealand scored 77 points came as the top place Australia got the second place with 75 points. Third place went to Singapore. In this segment the worst performer is India that too in the last place with 50 points which is 5 points lesser than 2012. This result is solely for Asia Pacific Region. In Financial Planning the small country Myanmar topped the first place with 88 points they remained in the first place la...

The Chancellor is not for Experiments!

The lowest rate of unemployment in the last 2 decades could be the real reason which helped Ms Angela Merkal to win the current elections as Chancellor of Germany for the consecutive third term. Her party, Christian Democratic Union won 41.5% votes against 25.7% votes of Social Democrats led by Mr Peer Steinbruck. But she is still in need of a coalition since she doesn’t have an absolute majority. The Chancellor seem to be the pet of Germans since she satisfied them with her strict measures she took on Euro-crisis, Libyan war, Syrian uprising. Her “ NO WAR” attitude was visible when she send a small troup of 8000 to Afgan rejecting the criticism of her allies and to keep an ok bilateral relationship with the US. She has shown her commitment towards her country by not giving away for the bailout demands of other European countries like Greek, Spain and Cyprus. She called for strict austerity measures in these countries which truly affected not only eurozone but other countries as...

G 20 on Shadow Banking

The recent G20 meeting ended with a strong affirmation of regulatory functions on the top banks. The control on NBFC s has great importance since the bankruptcy of Lehman Brothers was the first indication of global economic crisis of 2008. The G20 leaders have given lots of attention on the issue of shadow banking and they have taken a decision to strengthen the regulation over the shadow banks. In the roadmap document to regulate shadow banks, International Organization of Security commission (IOSCO) will analyze the global hedge fund sector to the Financial Stability Board (FSB). FSB, the international body to monitor and recommend about the global financial system was established soon after G20 summit in 2009. Based in Basel, Switzerland the board members are G20 nations, FSF members and the European commission. FSB provides regular monitoring of shadow banking services. There are various procedures assigned to FSB and IOSCO, to keep the services of NBFC is on track. In the G2...

Capital Flights: A Fact

Bovespa going down by 18% in June 2013 indicates a lot when you read it along with the report that the Brazilian IPO s has given only losses to its investors since 2005. The rapid capital flight is keeping the country on the verge of a breakdown and internal issues as we witnessed during the Confederation Cup series. This is even influencing the global markets. As per June 2013 reports investors have pulled $1.5 billion out of emerging market bond funds. Brazil’s primary budget balance went down these years and the reasons behind the capital flights could be the excess domestic credit, and high loan-to-deposit ratio of 1.6. Brazilian banks which benefited from the once capital inflows are affected by these outflows, even the metal and mining sector are under threat. Investors foresee a hard landing of Chinese economy and the most capital flights are feared to occur by late 2013 and early 2014 and people are careful about the failing forecasts. As the Fed tightens the measures Chine...

Major Challenges for Mr Raghuram Rajan the new Central Banker in India

North Block vs. Mint Road The home of Union Finance Ministry in North Block and the RBI HQ on Mint Road will have much more communication in the coming days. After the new RBI chieftain steps in with Himalayan tasks his prime duty should be satisfying the North Block which is answerable to the general public at many fronts. The political circle in Delhi never comes under the jurisdiction of the RBI chief and they may not be interested in understanding the worries of common man. So the toughest task will be keeping the balance between Finance ministry and RBI Strengthening Rupee Uplifting a currency which has gone down by 12% in the current financial year can’t be defined just as a tough task instead this is an uphill task. This depreciation does not purely depend on country’s internal and the external issues are not in the control of policymakers as well. The massive stimulus withdrawal has put not only India but all the emerging economies growths at stake. The RBI chief is not a...

An Analysis of safe and worst currencies in 2013

When Rupee is kneeling down in front of the dollar, it would be interesting to probe into the other currencies which have already lost to the dollar and to pound as well. Along with that we will find the best currencies in 2013 which can give great returns on investing. Iran Rial tops the list of the least valued currency. Introduced in 1798 as a coin Rial got its name from Spanish Rial. In 1945 Iran made USD as the peg for Rial leaving Pound and then 1USD was 32.25 Rial. The dollar devaluation in 1973 was not followed by Iran and the 1USD was 68.275 Rial. The value of the Rial declined due to the Islamic revolution and related capital flights and in 1999, 9430 rials equaled one dollar AND AS PER August 27, 1USD equals 24820.00IRR. As of today 1USD is equal to 21,170000 VND, Vietnamese Dong when 1 GBP is equal to 32,910.8820 VND. Vietnamese Dong, the currency of Vietnam since 1978 Lesser known country São Tomé and Príncipe an Island nation situated in Gulf Guinea is the second sm...

India in Stagflation

This could be temporary and let it be…….. That’s the expectation which Indians keep when their currency weakens. As Mr Paul Krugman in his latest blog “Ruppee Panic” describes, let us also generalize that currency weakening phenomena is there in almost all emerging economies. He invites our attention to the Brazilian economy where the fluctuations are more severe than India. The Brazilian inflation rate is marked as 6.7% which it difficult for the government to execute the development plans . It will be interesting to know who lost how much on this rupee dollar war in India. Mr Mukesh Ambani who is the owner of Reliance Industries Ltd. (RIL) the biggest refinery complex has lost $5.6 billion of his wealth since May 1 and his younger brother Mr Anil Ambani lost $1.3 billion. The second biggest loser is Mr Dilip Shanghvi, founder of Sun Pharmaceutical Industries Ltd and his loss is $2billion! Mr Kumar Mangalam Birla had a loss of 950 million; he is the owner of Aditya Birla Group. Th...

The Future of NPL s in the US and Europe

Despite the slowdown the NPL markets in the US and Europe is giving ample investment opportunities. Between the US and Europe latter is becoming the favorite for the investors. The transactions in the NPL markets have increased through 2012 and the banks are keen to sell their NPLs. According to the January 2013 reports, US bank deposit rates fell down mainly due to the US senate’s failure to extend the TAG program which was a component of the Temporary Liquidity Guarantee Program of FDIC which was originally adopted in October 2008. Through this program lending became easier due to the reduction in cost of funding and lending became more viable and helped people to mend their businesses. The main components of the TAG were1) Debt Guarantee Program which temporarily guarantees all newly-issued senior unsecured debt up to prescribed limits issued by participating entities. 2) The Transaction Account Guarantee program gives a Temporary full guarantee by the FDIC for funds held at FDI...

Rise of the BRICS Middle Class

An enormous upsurge in the middle class families across the globe especially in the BRICS countries has accrued high supposition among the economists. The total number of such families in BRICS is considered to be 5 billion by 2030. This transition has been found as "historical" in the last 150 years by the UN. This data is supposed to exceed G7 countries which are significantly industrialized than BRICS. By the end of 2020 middle class families in Asian continent will be more than 3 bn and this is 5 times more than Europe and 10 times more than North America! The households which are capable of spending $10 to $100 per day from their disposable income is considered to be in the middle class group and this definition has been coined by the UN and OECD. The number of people who earns $10 to $100 per day approximately is 150 mn and by 2030,500 mn people will earn the same in China alone if the economy has a stable growth. This data implies that by 2030, 70% of the Chinese ...

The FDI Failures in India

The repeated failures of FDI may hamper the economic growth and may work against India’s reputation from being an investor friendly country. This emerging economy is witnessing a deleterious “Quit-India” movement of foreign companies making slowdown in furtherinvestments. India is in need of FDI to overcome the huge account deficit equal to 4.8% of GDP in the last fiscal year. The recent regulation by Indian government allows 100% foreign ownership in telecommunication companies and easing in various overseas investment segments to attract long-term investments. The strong discontent over the macroeconomic conditions, market and regulatory conditions and the rupee’s instability led the UK company 3i’s exit from the Indian infrastructure business. The whopping amount of $1.2 bn investment couldn’t gain a sound profit which made the company analyze running this business in India is very challenging which resulted in the shut down in May 2013 even though 3i were the world’s largest In...

FDI Flow an Analysis

As per the UNCTAD report on Global Investments, FDI for 2013 will remain almost the same as it was in 2012, $1.32 trillion with an expectation of 10% hike. Transnational corporations are expected to invest cash holdings in various areas. From $1.45 trillion of FDI in 2013 is to expected to go up to $1.6 trillion in 2014 and $1.8trillion in 2015. This growth will be subject to the changes in the global financial system along with the significant policy uncertainty. The proposed FDI recipients will be the developing economies than the developed ones. Africa which has registered a year-on-year growth shows a rise in the FDI inflow up by 5% making it $50 billion. The outflow in the FDI also has risen to $14billion in 2012. Africa the favorite investment destination for the developing countries like India, Malaysia, China and South Africa in terms of FDI stock. The extractive sectors in Mauritania, the newest oil producers in the Africa, Democratic Republic of Congo, Mozambique and U...

The rise and fall of Detroit and their revival plans

General Motors Corporation which is one of the biggest automakers in the world headquartered in Detroit. Ford Motor Corporation also headquartered in Detroit with 213000 employees worldwide in their 90 plants and other facilities. Chrysler Group, which is located in Auburn Hills Michigan has their Historical Services in Detroit, which is considered as the one among the Big Three (Ford, General Motors, and Chrysler) in the US Visteon Corporation which manufactures automotive parts , SBC a telecommunication company, healthcare companies like Trinity Health, Henry Ford Health System, pharmaceutical company Pfizer Inc, systems technology company Delphi Corporations, global shipping company FedEx Corporation, cable network company Comcast and the list go on. Even then Detroit went bankrupt! The city of Detroit in the State of Michigan, home for many MNCs filed for bankruptcy protection, that too after a long economic crisis. And the reasons include 1) decline in the population since 200...

Countries Trying Luck in The US Debt : An Analysis

The clock ran out of digits in 2008 when the US national debt exceeded $ 10 trillion! It was installed by a New York real-estate developer Seymour Drust, showed the amount of the $16,738,230,684,008.83 debt as per Monday July 15th. It will be interesting to know which all countries are supporting the US with credit. The top rank goes to the US itself and you know how? It has taken $263.8 billion from its own insurance companies,the US savings bond are about $183.8 billion, mutual funds of $889.1 billion, $615.6 billion from pension funds, State and local government pension funds worth $190.3 billion, $492.2 billion from State and local governments, $337.4 billion from Depository institutions and it goes on like that. The below account is excluding this data. The Chinese agenda of keeping Yuan weaker against dollar boost up exports creating more job opportunities for its people by lowering the demand for the US products. As of March 2013 China owns $1.250 trillion of the US debt, ...

Future of the Woman Employment

Woman power is supposed to gain control over the global economy, politics and society in the next 5 years and the global income rate is growing enormously from US $13 trillion to US $18 trillion in the next 5 years. The role of the woman will become vivid as entrepreneurs, producers, consumers and employees with the population increase in China and India. Woman will control 75% of the spending by 2028 as the global income of woman increases. The rise of the global income will directly impact with the GDP growth of China and India and US$5 trillion will be contributed from these countries. The entire world is accepting the changes and it has even caused a revolution in male dominated economies. The Women Suffrage Movement which started in France in 1780s and 1790s resulted in many countries giving them that right in the latter half of the 19th century. International Alliance of Women founded in 1904 in Berlin campaign mostly for woman’s suffrage and represents the in 50 countries. ...

A Summary from WEF Gender Gap Index 2012

The World Economic Forum started its efforts to capture the dimension and the impacts of the gender based disparities in 2006 and they released the latest report on Gender Gap in October 2012. The report aims to create awareness about the challenges which gender gaps create and on the possibilities by reducing these gender gaps. The basic concepts that constitute the Gender Gap Index are 1) Measuring gaps 3) Gaps in Outcome variables 3) Ranking of the countries based on the gender equality. The Global Gender Gap Index has been divided into four sub indexes to examine the Gender Gap more effectively they are: 1) Economic Participation and related opportunities 2) Educational Attainment 3) Health and Survival 4) Political Empowerment. The Scandinavian countries held the top positions in this index as the same as in 2011. Iceland, Finland, Norway and Sweden are the first four countries in the Gender Gap Index which successfully closed 80% of gender gaps. These high-income economies h...

The Aftermath of An ArabSpring

The unemployment rate of 13.2 % has certainly a big role in the ouster of Mr Mohammad Mursi from the chair of Egyptian President. Mr Mursi who assumed office on 30 June 2012 granted himself unlimited powers to legislate without judicial review and supervision resulted in 2012 Egyptian Protests. The economic growth of Egypt is stagnant for the last 2 decades and the situation of the country is not favorable for any foreign investments or any growth in tourism which is the main source of income for Egyptians where 12% of Egyptians work for. This sector alone provides $11 billion to the growth. . A report in  May by the UN says that the period of 2010-2012 witnessed increased food insecurity and poverty, where 17% of the population doesn’t have sufficient food which was 14% in 2009. Mr Mursi who was the first elected President in Egypt had kept the agenda to reduce unemployment below 7% during his election campaigns. The unemployment among the population under 30 is 8...

Is EU Accession a Remedy for Croatian Crisis?

The nuptial knot is now tied between the EU and Croatia after a decade long betrothal which was described as “painful discussions” by the President Ivo Jospovic. Entry to the EU in the strangest times has generated so much of assumptions among the economists in the world. Croatia will be the 28 th member of the EU after Bulgaria and Romania becoming members in 2007. EU commission was very careful in accepting Croatia as a member and they werCroatia was  served a warning to control the corruption which is widespread in the country which makes Croatia the 2 nd place in most corrupted countries in the Europe behind Slovenia . The corruption even led it’s former President Mr Ivo Sanader, who was the mastermind behind the EU accession procedures, to jail on a corruption charges of €5 million as a bribe from various institutions including a bank and a pharma company! Croatia has an unemployment rate of 20% along with the threat of corruption and human trafficking. B...

Some Confederation Cup Related Thoughts

The Brazilians may dislike this, but the football fans worldwide are waiting eagerly for the final on June 30 th . Violent protests were inefficient to suppress the football fans and FIFA from holding the match in Brazil . The FIFA headquarter in Zurich went ahead with its decision of Confederation Cup venue being in Brazil who are also the defending champions. The Secretary General for FIFA Mr Jerome Valcke clearly opposed Brazil sports minister Aldo Rebelo’s revelation that so many other countries has expressed the willingness to be the host of confederation cup 2013 in an open stage. Divided into 2 groups A and B, the host country Brazil came out to be the first semifinalist by beating Uruguay for a 2-1 rate. The next semifinal is going to be between Spain and Italy and the world is waiting to see whether the bullfighter’s race ahead or Il Canto degli Italiani will be played. The highlight of this Confederation Cup was Team Tahiti group B member winners of the OFC, ...

The Top 10 Safest Banks in the World

The financial safety of the banks is highly scrutinized these days as the concern over the finance and related issues increases day by day. The Global Finance released a report on the safest banks in the world. The report has 50 banks which are rated as highly stable and considered as the best. KfW  the German, government owned bank topped the list for being the safest bank in the world. Formed in 1948 and based in Frankfurt, 80% of the bank is owned by the Federal Republic of Germany and 20% of ownership vests with States of Germany. Bank Nederlandse Gemmeenten is the second best bank in this list. This is the 4 th bank in the Netherlands on the base of assets. BNG lends finance only to semi-public organizations. Third best bank is a Swiss bank Zurcher Kantonalbank with total asset of CHF 110 billion. Landwirtschaftliche Rentenbank is the 4 th bank in this list which is headquartered in Frankfurt. This bank focuses on lending in agriculture and food ...

A Short Note on Global Risk Report 2013 by World Economic Forum

The Global Risk Report 2013, released by the World Economic Forum is a detailed study on the risk which will affect the world in the near future. This Blog keeps the vision to promote awareness about that crucial report. In the introduction Mr Klaus Schwab Founder and Executive Chairman of World Economic Forum has invited our attention towards these risks and requested to debate on these threats This year’s meeting of the World Economic Forum was held at Davos , Switzerland on the theme Resilient Dynamism. This particular theme was raised to bring and spread awareness about the risks which will affect the whole world without the country barrier. These risks are divided into three categories such as 1) preventable risks 2) strategic risks 3) external risks or global risks. This report is based on this years’ Global Risk Perception Survey performed by more than 1000 experts from various sectors including industry, government, academics and civilians. Economic Risks Fi...