China to raise minimum wage
Greece – Back in the headlines
Our columns here at the Elite Capital Solutions blog have always emphasized how a change in the leadership will not make the underlying problems go away in Greece. Lucas Papademos – the man who took over the reins from George Papandreou has held the turf for the last few months bravely. But time has come when Mr.Papademos must convince the decision-makers at troika ( the European Commission, European Central Bank and International Monetary Fund) to release an urgent tranche of bailout funds else Greece will go bankrupt as early as next week. It has no cash to pay its bills anymore.
Here is the 4 step plan that Mr.Papademos wants to implement to trim the 3.2 billion euros:
- Minimum wage to be cut by 22% from 751 euros per month to 600 euros.
- Supplementary pensions to be reduced by 15% but basic pensions also likely to be cut
- 15,000 public sector jobs to go by end of 2012
- But holiday bonuses, known as 13th and 14th month salaries, expected to be saved
This bill will be presented in the Greece parliament and it is bound to be met with some strong resistance. Markets across the world do not seem to be much perturbed at this point. Will the calmness continue or is this the lull before the storm?
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
The perils of Industrialization
‘Industrialization’ is the key to uplift millions of lives thought the leaders of China when they set out to build the nation in 70s and 80s. They were not entirely wrong as industrialization in the early 19th century was the turning point in the histories of Europe and US. What the Chinese and other leaders who followed in their footsteps across Asia failed to realize was the perils of a mass and unplanned mushrooming of manufacturing units across the serene countrysides.
China’s smog-filled cities are now ringed with heavy industry, metal smelters, and coal-fired power plants, all critical to keeping the fast-growing economy going even as they spew tons of carbon, metals, gases, and soot into the air. About a third of 113 cities surveyed in China failed to meet national air standards last year and a fifth of urban Chinese breath heavily polluted air.
Air pollution is estimated to cause approximately 2 million premature deaths worldwide per year. More than half of this burden is borne by people in developing countries. PM2.5 refers to the smallest solid particles in the atmosphere—those less than 2.5 microns across. Such dust can get deep into people’s lungs; far deeper than that rated as PM10. Yet until recently developing nations have measurements only for PM10.
In a mad-dash to achieve the target GDP numbers, nations are loosing sight of the deteriorating environment and the impact it would have on the common man. It is time for households to apportion a part of their monthly incomes for the raising health bills. Though this sounds optional it could become mandatory if the mindless expansion continues.
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
Cost of Living Index
Are you one of those who proudly wears ” I heart NY” or “I heart HK” Tee shirts? Here is how the world stacks up when compared on cost of living in 2012.
A little note on how the numbers are represented:
Indexes are relative to New York City (NYC). Which means that for New York City, each index should be 100(%). If another city/country has, for example, rent index of 120, it means rents in average in that city/country are 20% more expensive than in New York City. If the city/country has rent index of 70, that means in the average in that city/country rents are 30% less expensive than in New York City.
Consumer Price Excl. Rent Index (CPI) is relative indicator of consumer goods price, including groceries, restaurants, transportation and utilities. CPI Index doesn’t include accomodation expenses such as rent or mortgage. If city has CPI index of 120, it means it is 20% more expensive than New York (excluding rent).
Rent Index is estimation of prices of renting apartments in the city compared to New York City. If Rent index is 80, the estimates that price for renting in that city is 80% of price in New York.
Groceries Index is an estimation of grocery prices in the city compared to New York City.
Restaurants Index is a comparison of prices of meals and drinks in restaurants and bars compared to NYC.
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
Syria Crackdown
Syria is now epicenter of the Arab Spring – people’s revolt across Arab nations that saw many dictators loose their power.
Since 1971 the Al-Assad family have ruled over Syria. After the death of Hafez al-Assad in 2001- the Ba’ath Party Ruler who ruled Syria for 30 years , his son & heir apprarent Bashar Al-assad took over the reins. Syrian government had declared a state of emergency in 1963 and it is still in place, hence no political reforms or the reinstatement of civil rights has taken place in past five decades in a country with 22 million population.
Jan 26, 2011 marked the day when the Syrians lost their patience and came out to the streets protesting the presidential rule. Since then Syria has entered a full-fledged civil war which has reported nearly 6000 causualties. Last friday was the deadliest with 200 reported dead. The UN security council met over the weekend to drive out Syrian President Bashar al-Assad from power and end an 11-month uprising that looks poised to enter its bloodiest phase yet. But Russia and China vetoed the resolution ( Damascus is one of the largest buyer of Russian made arms) leading to a neutered Security Council and fuming Washington, European and Arab states grappling for an alternate plan.
This truly is unfortunate, Human lives are used as currencies in the international trade of weapons. We sincerely hope that the unrest in Syria finds a quick solution and the lives of innocents are not lost for such futile causes.
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
China to rescue EU
We have written earlier on this journal on the deteriorating state of affairs in Europe, and specially how the emerging nations are loosing patience at the lack of any strong & decisive steps from the EU leaders. It now seems that atleast a few of the emerging nations want to step in and assert themselves. China has initiated this by considering deeper involvement in the euro zone’s bailout funds.
This is a good sign as China can mobilize its massive foreign-exchange reserves to help alleviate the Continent’s sovereign-debt crisis. But Premier Wen has not revealed any specific details how China would involve in this crisis-management, will it be through IMF route or buying EU bonds?
European leaders will take these words with caution as there lies major current points of contention between China and Western nations: Iran and Syria. While the western nations want sanctions implemented on Iran, China & India are against any such actions.
These differences in foreign policies might pose as deterrents to the promises made by China on rescuing EU, after all China needs Iran for its burgeoning energy needs.
Source: South China Morning Post
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
Baby boom in the year of dragon
The year of dragon has official begun and all aspiring mothers who want a dragon baby are leaving no chances behind. A Los Angeles-based Agency for Surrogacy Solutions and sister company Global IVF Inc. have seen a 250% increase in business from Chinese or Chinese-Americans so far in January. They expect the trend to continue until mid-May, the time by which couples need to conceive in order to deliver a baby by Feb. 9, 2013. Any baby born after that will be a snake not a dragon. In 2000, the most recent year of the dragon, 202,000 more babies were born in Taiwan than a year earlier, according to the Taipei Times citing government statistics. In the economics sense the spending on baby goods, hospitals and other luxury items that go with the birth of a baby will raise exorbitantly in Asia the coming year.
Apart from the zodiac advantages and beliefs of having a dragon baby, there are many parents considering the downside of raising a dragon baby. The fear that too many children will be born and therefore, there would be a lot of competition in the future in school and when looking for jobs. In fact, Hong Kong is just now catching up with the baby boom from 12 years ago-the last Year of the Dragon. Schools are beginning to expand junior high class sizes to accommodate those children.
This could spur a raise in the cost of education and raising a dragon child. So all you aspiring parents of a dragon baby, plan wisely to give your dragon baby a good education – a perfect gift for future.
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
Hong Kong Budget
As Hong Kong braces for the change of hands in the government, financial secretary John Tsang will deliver his last budget for Asia’s world city in a few minutes from now. It is expected that Mr.Tsang will dole out sweeteners to the residents reeling under rising livings costs and nearly stagnant pay-checks.
The sweeteners estimated to be around HK$40 billion will be in the form of tax rebates, elderly care , business-registration fee waivers, property-rate waivers etc. This is an attempt at countering economic hardship stemming from slowing growth and the widening income gap. Hong Kong’s GDP might have shrunk narrowly by 0.3 percent in the fourth quarter from the three months ended September where it expanded narrowly by 0.1 percent.
The HKSAR still holds a surplus for December of HK$38.3 billion – bringing the total for the first nine months to HK$59.5 billion. We hope the government takes bold steps to foster economic growth & tame inflation than blindly hand-out 6000HKD to eligible residents! Will other governments across the world implement such generous measures to bolster their ailing economy?
DISCLAIMER: All content provided on this page are for informational purposes only. Elite Capital Solutions makes no representations as to the accuracy or completeness of any information on this page or found by following any link on this page . Elite Capital Solutions will not be liable for any errors or omissions in this information nor for the availability of this information. Elite Capital Solutions will not be liable for any losses, injuries, or damages from the display or use of this information. This policy is subject to change at anytime.
It should be noted the services available from Elite Capital Solutions will vary from country to country. Nothing in the comments above should be taken as offering investment advice or making an offer of any kind with regard to financial products or services. Specifically, within the Asia region, the Elite group are not at this point licensed by the SFC in Hong Kong or the MAS in Singapore. It is therefore important to reinforce that all comments above are designed to be general in nature and should not be relied upon for considering investment decisions without talking to licensed advisers in the country you reside or where your assets may located.
Cost of US elections
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The US presidential elections have withstood the pinch of recession. The 2008 campaign was the costliest in history, with a record-shattering $5.3 billion in spending by candidates, political parties and interest groups on the congressional and presidential races. That sum marks a … Continue reading
Davos
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The elites of the world assemble in Davos, Switzerland for the annual world economic forum jamboree at this time of each year. The who’s who of corporate, government, business , academia from all over the world gather to discuss around key … Continue reading









