Credit World News

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 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...

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 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 ...