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kopicrypto2 · 3 years ago

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Dubai Coin

Dubai Coin, Secured Service Trading Solid Platform

Dubai Coin

The number of companies operating in the financial and technology sectors has increased dramatically in recent years, especially those working in blockchain and security technology using cryptocurrencies. Many companies have applied for stock market listings simultaneously due to the current shift and intersection between finance, technology and stocks. Digital financial investments can be very rewarding, but growing your money in an online environment can be challenging because of the need to track transactions, manage a community presence, and optimize capital. Too much to do on too many platforms can lead to mistakes, missed opportunities, and unpleasant situations. It's time to use DhabiCoin to streamline the whole process. dhabikoin is an all-in-one platform that can handle all your trading, payment and cryptocurrency needs. DhabiCoin is a blockchain platform funded by Dubaicoin Digital Assets to increase users in the blockchain industry. Do you know what differentiates DhabiCoin from other cryptocurrencies?

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What Makes DhabiCoin Unique?

With its many qualities, DhabiCoin is an electronic asset that will preserve the UAE economy and have the potential to revolutionize the general market. Customers will be able to collaborate, learn, generate shares and much more thanks to the multi-stage integration of DhabiCoin into one powerful organic framework. With a focus on items as well as customers who are members of the natural framework of DhabiCoin. However, there are some different features of the current DubaiCoin.

Support: When clients buy/sell, for example, they will be given a course that will take them quite a bit from the start.

KYC/AML: DhabiCoin will implement the KYC/AML framework to ensure that the company follows the requirements.

Social Networking: DhabiCoin provides an online media platform that allows users to communicate with other users.

Smart Contracts: DhabiCoin manages their fantastic arrangement based on Binance BEP-20, ensuring that the relationship is completely secure and transparent.

Infrastructure: To provide a beautiful and stable platform, DhabiCoin is prepared with the most up-to-date technology and by a professional and experienced team.

Security: Customers can have confidence in the protection of DhabiCoin.

Transparency: DhabiCoin has established plans to provide customers with a prominent type of assistance, from ICO connections to group shares, which will be reported to customers.

Blockchain Advantages in DhabiCoin

Chain Accuracy In blockchain networks, transactions are approved by a good network with a large number of computers. This virtually eliminates individual participation in the verification process , resulting in less human error and more precise data records.

Cost Reduction Often, the customer pays the bank to confirm the transaction, the notary to sign the letter, or the priest to marry them. Blockchain eliminates the need for third-party verification and the costs that come with it. Businesses pay a small fee when they accept credit card payments.

Decentralization Some data on the blockchain will not be stored in one location. In most cases, the blockchain is duplicated and spread across computer networks. When each new block is added to the blockchain, each computer updates its blockchain to reflect the transition.

Secure Transactions Once a transaction is recorded, the blockchain network must check its legitimacy. Thousands of blockchain computer systems secure to ensure that the order's

the data is correct. After the engine validates the contract, it is added to the blockchain block

MANFAAT BINANCE SMART CHAIN BERBASIS DHABICOIN

The main benefit of electronic forms of money, such as DhabiCoin, is that they allow for fast trades, taking only ten minutes. This is the amount of time it takes to agree a deal. There is no need for agents or banks to intervene in cryptographic cash trading. Cryptographic forms of money, accordingly, are very helpful for both organizations and clients, as they eliminate some of the bank fees that are reflected in the last expense. Binance DEX, the top decentralized exchange, supports a growing digital asset ecosystem:

Low transaction fees of only one penny

High performance, with a network that can generate blocks every three seconds.

A DeFi method that works across the chain to improve DeFi interoperability

The Binance ecosystem supports several DeFi initiatives by funding and bootstrapping them.

Binance.com and Binance DEX have a thriving ecosystem of millions of users.

BSC is already collaborating with a network of significant crypto initiatives.

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Let's Know About Smart Contracts and ICOs

Smart Contract

Before knowing about DhabiCoin's Smart Contracts, you should have a clear idea of Smart Contracts. Smart Contracts are important programs that are recorded on the blockchain and executed when certain criteria are met. They are usually used to speed up contract execution so that all parties involved are confident of the outcome without needing a mediator or wasting time. They can also control a process, triggering the next phase once certain conditions are met. Common 'if/when' lines are included in blockchain code to execute smart contracts. Once the predefined conditions have been met and validated, the action is performed by the network. When the transaction is complete, the blockchain is refreshed. This means that the exchange is immutable and only those who are allowed to see the results can see it.

ICO

Initial Coin Offering (ICO) is a type of digital currency that businesses use to raise funds. Investors earn unique digital currency “tokens” in return for their financial investments through the ICO business platform. It is a type of crowdfunding where digital tokens are created and sold to raise funds for project development. These tokens act as a form of money, allowing investors to access certain aspects of the company's approved projects. This coin is unusual in that it contributes to the funding of the project that makes the software accessible. It will not be easy to fund this through standard methods. The protocol of the Dhabi Coin Token (DBC), which is based on the Binance Smart Chain (BSC) smart contract, is compatible with several encrypted wallet applications, including Trust Wallet, Metamask, and MyEtherWallet,

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DhabiCoin Is The Best Secure Solution

If you want to invest in DhabiCoin, you must be sure it is safe. Any online service that handles customer payments has a responsibility to keep those payments as secure as possible. Security breaches have become common in recent years, resulting in the loss of assets of exchange users and millions of cryptocurrency-related services. The DhabiCoin network was built with security in mind from the start. It does so using strategies such as:

Always use the latest technology.

Always use an outside security consultant during the development process.

Use third party consultants to hire vulnerability testing services; Anti-DDoS CDN on a global scale.

Choose the most appropriate hosting partner based on security and certification; ISO 27001, PCI DSS and other security standards are followed

Why Should You Invest In DhabiCoin Token?

The Binance Smart Chain (BSC) environment has built-in developments in the DhabiCoin Token (DBC), a phase with absolute security in its transactions, minimal fees, and clearer agility in peak time information bottlenecks, relying on a fantastic group of helpers in multiple languages. You can manage anything at any point you get into our current situation. Anyone with a cell phone and access to the internet can participate in the entire business environment. The Binance blockchain and the cryptocurrency DhabiCoin bring a wealth of cutting-edge capabilities to the crypto-active world.

High Scale

● Fast Trading

Wallets In Different Stages

Unchangeable Savvy Settings

Safe Association Guarantee Show

ICO of Dhabicoin

Dhabicoin has a motivated team to build an innovative network and take the next step in the evolution of the market. This is a bold project, with the hope of completing all modules in just one year. While development is well underway, with social networks and exchange modules running, a complete roadmap requires a worthy investment. As a result, DHABICOIN will raise funds through contributions through this ICO.

Initial coin offerings (ICOs) are the cryptocurrency industry equivalent of initial public offerings (IPOs). A company that wants to raise money to create a different coin, app or program launches an ICO to raise money. Interested investors can buy into the offering and get different cryptocurrency tokens released by the business. These tokens may involve some utility in using the merchandise or services the business provides, or may simply represent a stake in the business or project.

Pra-ICO

Prior to the ICO, we will have a phase aimed at larger investors, who wish to acquire large amounts of tokens.

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ICO

• Presale (Putaran 1) Nilai Token DhabiCoin US$ 0,0 2

• Presale (Putaran 2) Nilai Token DhabiCoin US$ 0,04

• Sale 1 (Round 1) DubaiCoin Token Value US$0.0 7

• FINAL Sale (Round 2) DubaiCoin Token Value US$0.13

ICO steps

Pre-sale 01

pra-garam 02

Final sale

● Token — 300 M Harga: US$ 0,02

● Token - 250 Million Price: US $ 0.04

Sale of 01 Tokens — 150 B Price: US$ 0.07

● Token — 100 M Harga: US$ 0,13

Why Dhabicoin chooses Initial Coin Offering (ICO) Fundraising

Initial Coin Offerings (ICOs) are usually a popular fundraising method used primarily by startups looking to offer products and services, usually related to the cryptocurrency and blockchain space.

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ICOs are similar to stocks, but sometimes have utility for the services the software program or product offers. When a cryptocurrency startup wants to raise money through an ICO, it usually creates a whitepaper outlining the project, the needs the project will meet upon completion, how much money is needed, how many virtual tokens the founder will keep, what kind of money will be accepted, and how much. how long the ICO campaign will run.

During the ICO campaign, fanatics and project supporters buy some project tokens with fiat or digital currency. These coins are referred to by buyers as tokens and are comparable to the shares of the organization sold to investors during the IPO.

Dhabicoin infrastructure and security

Any online service that is responsible for handling user funds has a responsibility to be as secure as possible. In recent years, security breaches have become widespread, leading to the loss of funds from exchange users and millions of cryptocurrency-related services.

The DHABICOIN network was designed from the start with security in mind. For this, they adopt practices such as:

• The use of technology that is always updated;

Hiring external security consultants during development;

• Employ vulnerability testing services through third party consulting; I Global CDN for anti-DDoS

protection. Choose the best hosting partner based on security and certification; I comply with security standards like ISO 27001, PCI DSS, etc.

Multi-factor authentication

Two-factor authentication (2FA) is a requirement for users who have funds on the network since, without at least a second authentication factor; online account security is greatly reduced.

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The second recommended authentication factor is through a security code generated by a mobile app, such as Google Authenticator.

Apart from these factors, other factors can be configured in the account, such as PIN (personal identification number) requirements and also confirmed via email. Enabling all these factors, we have an intruder-proof account and complete security in withdrawals, payments, or e v en purchase and sales orders in the opening exchanges.

Self development

Network development is carried out internally, together with his team. This way of working ensures security, agility in updating the platform and solving problems.

It also ensures the future of the platform is controlled, both by DHABICOIN and its users, as internal development provides flexibility to direct the project according to the needs of the community.

Technical support structure

The optimized support structure, using modern tools and aligned with the SAC 2.0 concept will ensure that user doubts will be cleared in the most effective way possible in the shortest possible time.

In addition to traditional channels, online support channels in real-time via chat available 24/7 / 365. With this channel, users talk to a real person, not a robot, and technical problems they solved in a matter of minutes.

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Dhabicoin provides a friendly and secure digital currency service, thereby bringing more people into the new cryptocurrency economy and offering innovation to those already using it. It has high Scale, Fast transactions, Wallets across multiple systems, Immutable smart agreements, and protected network insurance protocol features on its platform. So, it is the most convenient platform where you get all the benefits and rewards together.

Contact With Us:

Situs web: https://dhabicoin.ae Penjualan ICO: https://dhabicoin.ae/public/invite?ref=UD00002 Telegram: https://t.me/joinchat/94HGhsK4sDNlN2Jk Reddit: https://www.reddit. com/user/dhabicoin Twitter: https://twitter.com/DhabicoinUae Whitepaper: https://drive.google.com/file/d/1hP9VhhWtPuI1ON3Iw-8GJLJzRo0wVy_C/view Medium: https://dhabicoin.medium.com

Username: MohamedSalahh

Link: https://bitcointalk.org/index.php?action=profile;u=3122527

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planetpromoters · 4 years ago

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What is international trade?

If you'll walk into a supermarket and find Costa Rican bananas, Brazilian coffee, and a bottle of South African wine, you're experiencing the impacts of international trade.

International trade allows countries to expand their markets and access goods and services that otherwise might not are available domestically. As a result of international trade, the market is more competitive. This ultimately leads to more competitive pricing and brings a less expensive product home to the buyer .

KEY TAKEAWAYS

International trade is the exchange of products and services between countries.

Trading globally gives consumers and countries the chance to be exposed to goods and services not available in their own countries, or which might be costlier domestically.

The importance of international trade was recognized early by political economists like Smith and Ricardo .

Still, some argue that international trade actually is often bad for smaller nations, putting them at a greater disadvantage on the planet stage.

Understanding International Trade

International trade was key to the increase of the worldwide economy. within the global economy, supply and demand—and thus prices—both impact and are impacted by global events.

Political change in Asia, for instance , could end in a rise within the cost of labor. this might increase the manufacturing costs for an American sneaker company that's based in Malaysia, which might then end in a rise within the price charged for a pair of sneakers that an American consumer might purchase at their local mall.

Imports and Exports

A product that's sold to the worldwide market is named an export, and a product that's bought from the worldwide market is an import. Imports and exports are accounted for within the accounting section during a country's balance of payments.

Global trade allows wealthy countries to use their resources—for example, labor, technology, or capital—more efficiently. Different countries are endowed with different assets and natural resources: land, labor, capital, and technology, etc. this enables some countries to supply an equivalent good more efficiently—in other words, more quickly and with less of a price . Therefore, they'll sell it more cheaply than other countries. If a rustic cannot efficiently produce an item, it can obtain it by trading with another country which will . this is often referred to as specialization in international trade.

For example, England and Portugal have historically both benefited by specializing and trading consistent with their comparative advantages. Portugal has plentiful vineyards and may make wine at a coffee cost, while England is in a position to more cheaply manufacture cloth given its pastures are filled with sheep. Each country would eventually recognize these facts and stop attempting to form the merchandise that was more costly to get domestically in favor of engaging in trade. Indeed, over time, England stopped producing wine, and Portugal stopped manufacturing cloth. Both countries saw that it had been to their advantage to prevent their efforts at producing these things and, instead, to trade with one another so as to accumulate them.

Comparative Advantage

These two countries realized that they might produce more by specializing in those products with which they need a comparative advantage. In such a case, the Portuguese would begin to supply only wine, and therefore the English only cotton. Each country can now create a specialized output of 20 units per annum and trade equal proportions of both products. As such, each country now has access to both products at lower costs. we will see then that for both countries, the chance cost of manufacturing both products is bigger than the value of specializing.

Comparative advantage are often contrasted with absolute advantage. Absolute advantage results in unambiguous gains from specialization and trade only in cases where each producer has an absolute advantage in producing some good. If a producer lacks any absolute advantage then they might never export anything. But we do see that countries with none clear absolute advantage do gain from trade because they need comparative advantage.

consistent with the international trade theory, albeit a rustic has an absolute advantage over another, it can still enjoy specialization.

Origins of Comparative Advantage

The theory of comparative advantage has been attributed to English political economist Ricardo . Comparative advantage is discussed in Ricardo's book “On the Principles of economics and Taxation” published in 1817, although it's been suggested that Ricardo's mentor, Mill , likely originated the analysis and slipped it into Ricardo's book on the sly.123

Comparative advantage, as we've shown above, famously showed how England and Portugal both benefit by specializing and trading consistent with their comparative advantages. During this case, Portugal was ready to make wine at a coffee cost, while England was ready to cheaply manufacture cloth. Ricardo predicted that every country would eventually recognize these facts and stop attempting to form the merchandise that was more costly to get .3

A more contemporary example of comparative advantage is China’s comparative advantage over the US within the sort of cheap labor. Chinese workers produce simple commodities at a way lower cost .4 The United States’ comparative advantage is in specialized, capital-intensive labor. American workers produce sophisticated goods or investment opportunities at lower opportunity costs. Specializing and trading along these lines benefit each country.

The theory of comparative advantage helps to elucidate why protectionism has been traditionally unsuccessful. If a rustic removes itself from a world trade agreement, or if a government imposes tariffs, it's going to produce an instantaneous local benefit within the sort of new jobs. However, this is often often not a long-term solution to a trade problem. Eventually, that country will grow to be at an obstacle relative to its neighbors: countries that were already better ready to produce these things at a lower cost .

Criticisms of Comparative Advantage

Why doesn't the planet have open trading between countries? When there's trade , why do some countries remain poor at the expense of others? There are many reasons, but the foremost influential are some things that economists call rent-seeking. Rent-seeking occurs when one group organizes and lobbies the government to guard its interests.

Say, for instance , the producers of yank shoes understand and accept as true with the free-trade argument—but they also know that their narrow interests would be negatively impacted by cheaper foreign shoes. although laborers would be most efficient by switching from making shoes to creating computers, nobody within the industry wants to lose their job or see profits decrease within the short run.

This desire could lead the shoemakers to lobby for special tax breaks for his or her products or extra duties (or even outright bans) on foreign footwear. Appeals to save lots of American jobs and preserve a time-honored American craft abound—even though, within the end of the day , American laborers would be made relatively less productive and American consumers relatively poorer by such protectionist tactics.

Other Possible Benefits of Trading Globally

International trade not only leads to increased efficiency, but it also allows countries to participate during a global economy, encouraging the chance for foreign direct investment (FDI). In theory, economies can thus grow more efficiently and may more easily become competitive economic participants.

For the receiving government, FDI may be a means by which foreign currency and expertise can enter the country. It raises employment levels, and theoretically, results in a growth in gross domestic product (GDP). For the investor, FDI offers company expansion and growth, which suggests higher revenues.

Free Trade vs. Protectionism

As with all theories, there are opposing views. International trade has two contrasting views regarding the extent of control placed on trade between countries.

Free Trade

Free trade is the simpler of the 2 theories. This approach is additionally sometimes mentioned as laissez-faire economics. With a laissez-faire approach, there are not any restrictions on trade. The best idea is that supply and demand factors, operating on a worldwide scale, will make sure that production happens efficiently. Therefore, nothing must be done to guard or promote trade and growth because the economic process will do so automatically.

Protectionism holds that regulation of international trade is vital to make sure that markets function properly. Advocates of this theory believe that market inefficiencies may hamper the advantages of international trade, and that they aim to guide the market accordingly. Protectionism exists in many various forms, but the foremost common are tariffs, subsidies, and quotas. These strategies plan to correct any inefficiency within the international market.

As it exposes the chance for specialization, and thus more efficient use of resources, international trade has the potential to maximise a country's capacity to supply and acquire goods. Opponents of worldwide trade have argued, however, that international trade still allows for inefficiencies that leave developing nations compromised. what's certain is that the worldwide economy is during a state of continual change, and, because it develops, so too must its participants

DSG Global, LLC is a leading consulting firm specializing in international trade compliance, training, and global business strategy. We help companies of all sizes with strategies to expand their global footprint and understand complex international trade rules.

Throughout our careers, we have assisted over a thousand small, medium sized as well as Fortune 500 companies navigate international trade compliance rules. As our customers attest through their testimonials, we offer DSG Global as a welcome alternative to the larger, less personal consulting firms.

Learn more about the DSG Global team.

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skindustrialplotsblog · 3 years ago

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MET Reliance

Riico industrial area Bhiwadi plots

Rajasthan State Industrial and Investment Corporation restricted was established in Gregorian calendar month 1980. The most functions of RIICO ar to produce up to date infrastructural facilities and services to the entrepreneurs and allot public land for economic development of Rajasthan. However, the organization has didn't meet its supposed objectives.

In 2011, a accountant and Auditor General of India report found that between 2005 and 2010, the organization planned to develop twenty six industrial estates having a area of 8,986 acres similar to quite 8,000 soccer fields. Further, the CAG reported that there was a delay of twelve years by RIICO in developing twelve industrial units having a pair of,445 acres of land. To boot, 2,159 acres of land non heritable by RIICO between 2005 and 2009 wasn't developed into industrial areas.

The corporation didn't take the possession of 2,014 acres of land despite paying the compensation quantity of ₹ 117 large integer to native landowners. As on March 2005, 8,224 acres of land was lying unused in twenty four industrial areas across the state manifesting the abject failure of the Rajasthan government to effectively use public land. RIICO conjointly didn't give to basic infrastructure facilities like street lighting, installation, and quality roads in industrial areas, that affected the economic growth within the state.

RIICO exploited the land they non heritable within the name of commercial development. From 2005 the land beneath proceeding or encroachment command by RIICO redoubled from 260 acres to 651 acres in 2010. The worth of the encroached land went up from ₹8 large integer to ₹83 large integer. The organization conjointly has no data concerning their own 1,540 acres of commercial areas.

If a personal company closely-held such immense tracts of land parcels, wouldn’t it defend them from encroachments and develop it for use? Solely a agency will afford to possess immense tracts of valuable land and it's encroached upon and even forget that it owns the precious land.

There were intensive irregularities concerned within the allotment of land to firms for putting in place industries. In 2006, RIICO assigned ten acres of land to United Breweries restricted within the Chopanki Industrial space (Bhiwadi II). The land was reserved for hospitals, parks, and roads however was entertained for the noble purpose of production brew. RIICO sanctioned the plot for ₹1,000 per sq. m. However, the prevailing rate was between ₹1,590 per sq. m. and ₹1,800 per sq.m. This crystal rectifier to the loss of ₹1.36 large integer to Rajasthan taxpayers.

In 2007, RIICO assigned twenty five acres of land to a corporation within the Patherdi industrial space in while not mentioning the very fact that the land was beneath proceeding. The corporate couldn't undertake any industrial activity on the land. Further, RIICO assigned thirty acres of land to Orient Craft restricted to set-up business. However, the corporate failed to set-up something on the assigned land whereas it received undue favors of ₹85 hundred thousand by receiving associate degree direct rebate.

These are simply a couple of samples of irregularities happened in land allotment by RIICO. The inefficiencies within the functioning of RIICO have invariably been the case regardless of that government is within the power.

Irregularities at RIICO show however bureaucrats operating within the name of development misuse public resources for his or her personal gains. Within the 1st place, we tend to don’t even want industrial development companies like RIICO if we've got a restrictive surroundings contributory for doing business. Organizations like RIICO solely waste public resources that may are used far more with efficiency for the economic development of the country.

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seedfinance · 3 years ago

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FirstFT: Key workers to be exempt from self-isolation, says Johnson

Good Morning. This article is an on-site version of our FirstFT newsletter. Sign up for our Asia, Europe / Africa or America edition to have it sent straight to your inbox every morning of the week

Boris Johnson celebrated England’s so-called Freedom Day by announcing contingency plans to free key workers from the rules of self-isolation that cause economic and social disruption.

The Prime Minister’s decision to lift most of the Covid-19 restrictions was accompanied by an announcement that additional guidelines – such as

The pub groups Wetherspoon and Young’s, the restaurant company Fridays and the fast food chain McDonald’s offered limited promotions yesterday to draw customers back.

But in central London, many stayed at home and prevented rest from restaurants, theaters and cinemas. The FT view states that companies need clarity in managing the record numbers of isolated employees.

When revelers returned to the nightclubs, investors were less pleased: a global sell-off in equity markets unfolded, hitting many of the sectors that had driven stocks higher that year, sending some into correction territory.

Regardless of this, Vaccine Minister Nadhim Zahawi confirmed yesterday that only clinically extremely vulnerable children aged 12 to 17 who were exposed to immunocompromised adults and adolescents within three months of their 18th birthday

Five more stories on the news

1. David Cameron’s “Lack of Discernment” The former UK Prime Minister’s lobbying for Greensill Capital, which collapsed in March, shows “a significant lack of judgment,” a committee of MPs concluded. The Treasury Department’s Special Committee found that Cameron had not broken the rules, but said it reflected “the inadequate strength of the rules”.

2. USA: China mastered global cyber attacks The White House and its Western allies accused Beijing of partnering with criminal gangs to carry out widespread cyberattacks, including one on Microsoft this year that affected tens of thousands of organizations.

Opinion: If China can’t achieve a global military presence that rivals the US, it may have to find a new way to be a superpower, writes Gideon Rachman.

3. Ascend UK “nowhere near” Boris Johnson’s administration is “nowhere near” achieving its ambitious goals to reduce the country’s yawning inequalities deepened by Covid-19, warned Steven Cooper, co-chair of the UK’s Social Mobility Commission.

Opinion: A more permanent strategy to help low-wage workers and the local economy would be to convert “bad jobs” in sectors like maintenance and warehousing into “good jobs,” writes Sarah O’Connor.

4. BlackRock strives for high executive compensation The world’s largest wealth manager increased its opposition to executive salaries in Europe last year and voted against salary packages for executives of listed companies who laid off workers during the pandemic. Critics have accused BlackRock of not doing enough as it claims to be an advocate for ESG standards.

5. Haiti’s interim prime minister agrees to step aside Claude Joseph, who has ruled the country since Jovenel Moïse was assassinated earlier this month, has agreed to step aside under diplomatic pressure and hand over power to a rival.

Coronavirus digestion

The US Centers for Disease Control and Prevention yesterday urged Americans to avoid traveling to the US United Kingdom. The US experience a “pandemic of the unvaccinated,” warned the head of the country’s health department.

Canada will allow fully vaccinated American tourists from early August and vaccinated travelers from other destinations in September.

US companies desperately looking for new employees for fear of Covid, a lack of childcare and the temporary expansion of unemployment benefits. This has given job seekers more bargaining power than they had in decades.

The explosive growth of E-commerce during the pandemic has drawn investors’ attention to the lackluster cardboard business.

Follow our live coronavirus blog and sign up for our coronavirus business update newsletter for more Covid-19 news.

The day ahead

Heavenly Today, the anniversary of the first moon landing, Amazon founder Jeff Bezos is flying into space with his younger brother Mark, the 82-year-old aviator Wally Funk and the 18-year-old Dutch student Oliver Daemen.

Olympic announcement The International Olympic Committee is holding a meeting to announce the host of the 2032 Games.

Merits Streaming giant Netflix, Philip Morris, UBS, Chipotle, Manpower Group, Halliburton, Rémy Cointreau, Electrolux and Volvo announce profits. BHP announces its fourth quarter production report.

Cyber security hearing The US House’s Energy and Trade Subcommittee meets to investigate the ransomware threat the day after the White House accused China of being behind global cyber attacks.

What else we read

Why Gabon wants markets to help combat climate change As the oil reserves are dwindling, Gabon is trying to reposition itself as a “green superpower”. The rare high-income country in Africa wants recognition for the preservation of its tropical forests, the most important forest ecosystem on earth after the Amazon. So how does it plan to attract “natural capital”?

About 85% of the country of Gabon is covered in carbon-absorbing rainforest, an area the size of Great Britain © Amaury Hauchard / AFP / Getty

When the company’s purpose dissolves in smoke Philip Morris International’s “Statement of Purpose” encompasses the tobacco company’s efforts towards “a smoke-free future.” But his £ 1 billion deal to buy inhalation company Vectura has viewers who rate him somewhere between bizarre and completely unacceptable, writes Helen Thomas.

Brazil’s Lula keeps politics a secret Since returning to politics in March, Luiz Inácio Lula da Silva has proven to be a serious challenger to President Jair Bolsonaro. However, some wonder what a new presidency for Lula might look like – he has admitted that his ideas “change when the facts change” and in 2003 went from socialist union leader to head of a liberal economic administration.

Iran sanctions The US is considering sanctions on Iran’s oil sales to China, the country’s main customer, as negotiators seek to revive the 2015 nuclear deal. (WSJ)

Two big reasons to doubt the global boom Although economists expect the world economy to reopen rapidly, there are two reasons to question its strength and duration: China and the US. The superpowers are the engines of growth, but cracks are emerging in their economic engines, writes Ruchir Sharma.

FT podcast

You can’t always get what you quantify From picking the best stocks to listening to profit calls, AI-powered systems are transforming finance. But how big are the rewards? In the latest installment of Tech Tonic, Robin Wigglesworth explains how AI has been used in investing and what robots could learn from watching children play.

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source https://seedfinance.net/2021/07/20/firstft-key-workers-to-be-exempt-from-self-isolation-says-johnson/

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perfectirishgifts · 4 years ago

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Here’s How The Biden Presidency Will Impact Markets, Climate And Energy

New Post has been published on https://perfectirishgifts.com/heres-how-the-biden-presidency-will-impact-markets-climate-and-energy/

Here’s How The Biden Presidency Will Impact Markets, Climate And Energy

Biden and Harris, Nov. 9, 2020.

Joe Biden and his transition team have not been shy about telegraphing an intention to kill coal, ban new oil drilling in federal lands and waters, and turn the regulatory screws once more on America’s most carbon-belching industries. In transitioning from intent to strategy, the Biden team has been evaluating a raft of policy initiatives designed to achieve their climate goals.

Titans of industry should not be surprised by any of the game changers that are on the way. For more than a decade, a vast majority of the U.S. electorate has declared its tacit approval of policies ensuring massive reduction in greenhouse gas emissions. State governments from California to Texas have been leading the charge for renewable energy with mandates, carbon markets or subsidies. In many parts of the country, the feds will be catching up with the states.

Here’s what to expect.

If the goal is a major reduction in GHG emissions, the simple approach is best. Increase the price of carbon-intensive fuels with a carbon tax. Following Econ 101, consumers will shift demand to less expensive substitutes and reduce fossil fuel consumption. Carbon capture, use and sequestration—which would be rewarded under a carbon tax—will expand. Tax proceeds will be used to offset negative impacts to preserve employment.

Social justice is not just a rhetorical consideration. Many are frightened that the energy transition will eliminate their livelihoods. And government actions will be tempered by the necessity of change, weighed against the need to preserve energy supply chains for the economy and for national security.

The Biden administration will rejoin the Paris Agreement to demonstrate commitment. However, leadership is required. The Paris Agreement and earlier Kyoto Protocol have had no impact on the trends of both increasing carbon emissions and decreasing carbon intensity per unit of global GDP. The administration will likely implement the Climate Club plan of Nobel winner William Nordhaus in order to change the trajectories—reduce carbon emissions and greatly accelerate the decreasing carbon intensity per unit of GDP. Under the Nordhaus plan, the U.S. would institute a domestic carbon pricing mechanism and then impose a tariff on goods from countries that did not follow suit. The European Union is on track to implement a similar plan with a carbon border tax.

The Climate Club will also need to address issues concerning social justice. World energy use is increasing as energy poverty is eliminated. The global population is expected to grow by 3 billion by 2050 due to decreased mortality rates in developing nations, exacerbating the conflict between the growing demand for energy and the imperative to reduce GHG emissions.

Enlisting the major energy companies will not be difficult. They have been out in front of Congress and the last two administrations with their Oil and Gas Climate Initiative. They have lobbied for the certainty of a carbon tax since the days of the Waxman-Markey bill. Impose the carbon tax at the wellhead, the mine mouth or the port of entry for fossil fuels, and industry will get behind the administration. Oil companies are important to the transition for several reasons. First, because they have the current cash flow, product distribution network and much of the technical expertise necessary to lead the transition. Some companies, such as BP, have announced a divestiture of oil and gas properties. Others, such as ExxonMobil XOM , are pursuing effective carbon capture, use and sequestration avenues. The growth in green hydrogen will be driven by oil companies and major electric utilities.

The “correct” amount for a carbon tax will be open to analysis and debate. Oil companies have anticipated an initial carbon price of $40 per metric ton of CO2. California’s Low Carbon Fuel Credits market is currently trading at $195 per metric ton of CO2. At a carbon tax of $100 per metric ton, U.S. consumers would pay an additional$0.89 per gallon of gasoline and $100 per 1,000 kWh for electricity generated exclusively from coal.

What would the carbon tax proceeds fund?

Congress and the administration should work to minimize the disruptive impacts of the carbon tax, in part by funding advanced research and development for increased agriculture/carbon reuse such as that underway at the Salk Institute, developments with synthetic photosynthesis, winter crop development and green hydrogen. The tax can fund rebates and investment credits for greater conservation in buildings and building materials. Most importantly, the tax will fund rebates and investment credits for switching capital equipment to lower carbon fuel sources such as New York City’s garbage truck fleet, the nation’s fleet of heavy trucks, and farm equipment.

How will it be implemented?

For a carbon tax to be effective at changing consumer buying habits, the tax must be implemented at the source—the wellhead, the mine mouth, or the port-of-entry. The cost will flow through the economy without regard to who produces it or who consumes it. The cost will be incorporated into our daily lives. Consumers and producers will respond as less carbon intensive energy sources become relatively cheaper to use.

But, failing concerted action by Congress, the administration has the tool of the Clean Air Act to regulate emissions of CO2 and other greenhouse gases. Restrictions could be mandated but would certainly be more disruptive than providing economic carrots and sticks.

For the domestic oil and gas industry, the administration could return to President Eisenhower’s oil import quota or, alternatively, impose a significant tariff (more than $30 per barrel) on crude oil imported into the U.S. from countries other than Canada and Mexico. Such import restrictions would necessarily raise the domestic price of crude oil. This higher price would speed development and sales of electric vehicles. It would also provide an economic boost to domestic oil producers, who will need the funds to reduce methane emissions and continue environmental remediation. Further to this point, the revival of the domestic oil industry would increase GDP, send hundreds of thousands of people back to work, and return royalty and tax revenues to communities, schools, cities and states. With respect to foreign policy, reduced dependence on foreign supplies will allow the U.S. to reduce the military umbrella over the Middle East oil producers.

A frackmatic policy

Banning hydraulic fracturing in oil and gas development would revive the coal industry and reverse the last 10 years of decreased carbon emissions in the U.S. and increase dependency on foreign supplies of crude oil. For all the bluster about saving coal, coal production during the Trump administration has dropped by more than a third. The annual savings to consumers from lower natural gas prices is $195 billion per year. The problems? The Oklahoma Corporations Commission and the Texas Railroad Commission have stepped in to reduce and eliminate the earthquakes associated with the disposal wells for wastewater from fracking. Obama administration research and award-winning Yale research have shown no significant impact on groundwater hydrology from the practice of hydraulic fracturing.

Energy’s other major priorities

The nation’s electric grids are not homogenous. More than 3,000 entities work in concert each minute to provide power—all the more noticeable when a mishap in one state causes the lights to go out across many states. Grid reliability is necessary. Of the currently available zero-carbon fuels, only nuclear provides reliable electricity. California demonstrated the folly of moving too quickly to wind and solar but recent actions by the Federal Energy Regulatory Commission and, in Texas, the Electric Reliability Council of Texas, which is not subject to FERC regulation, have removed obstacles to adding battery storage operations to the grid. It is important to note that battery storage contributes to lower carbon emissions by providing off peak accumulation of excess electricity generation from any source: nuclear, gas, coal and renewable resources. Providing investment incentives for merchant battery installations will hasten the retirement of fossil fuel plants that heretofore have been used for baseload and peaking.

Practical policy limitations, considerations and implications

For the sake of completeness, these points will also figure into the Biden administration’s climate and energy calculus.

· Carbon use is becoming cost effective even without a carbon price, as companies bring products including carbon-negative vodka, carbon-negative hand sanitizer and other products to market.

· Hydroelectric dams have interfered with the natural fisheries of the nation. Eliminating some dams will be beneficial for restoring these fisheries.

· Battery production currently relies heavily on the mining of rare earths. While this is a recognized problem, little has been done to ameliorate the impact of ever increasing battery production. The promise of green hydrogen may be realized and become the disruptive technology that pushes lithium-ion batteries out of transportation.

· Continue efforts to harden the grid against cyberattacks and Electromagnetic Pulse attacks.

· Nuclear waste management remains a public policy conundrum.

Longer term implications

Policymakers today must be mindful of the second order impacts that will be felt years later—and the benefits of changing technologies. President Nixon’s abandonment of the Eisenhower import quota in tandem with price controls imperiled U.S. national security and increased the nation’s dependence on OPEC. National security and ill-conceived price controls on natural gas led to the passage of the Power Plant and Industrial Fuel Use Act of 1978, which knowingly and directly pushed the nation into a multi-decade dependence on coal-fired electricity at the expense of the environment.

Laws and regulations necessarily address the issues of the day. Climate has made tomorrow the issue of today.

From Energy in Perfectirishgifts

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learningfrommiley · 4 years ago

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Manufacturing’s next act

By Cornelius Baur and Dominik Wee

Manufacturing’s next act

Mention “Industry 4.0” to most manufacturing executives and you will raise eyebrows. If they’ve heard of it, they are likely confused about what it is. If they haven’t heard of it, they’re likely to be skeptical of what they see as yet another piece of marketing hype, an empty catchphrase. And yet a closer look at what’s behind Industry 4.0 reveals some powerful emerging currents with strong potential to change the way factories work. It may be too much to say that it is another industrial revolution. But call it whatever you like; the fact is, Industry 4.0 is gathering force, and executives should carefully monitor the coming changes and develop strategies to take advantage of the new opportunities.

Coming to terms

Start with some definitions. We define Industry 4.0 as the next phase in the digitization of the manufacturing sector, driven by four disruptions: the astonishing rise in data volumes, computational power, and connectivity, especially new low-power wide-area networks; the emergence of analytics and business-intelligence capabilities; new forms of human-machine interaction such as touch interfaces and augmented-reality systems; and improvements in transferring digital instructions to the physical world, such as advanced robotics and 3-D printing. (The four trends are not the reason for the “4.0,” however. Rather, this is the fourth major upheaval in modern manufacturing, following the lean revolution of the 1970s, the outsourcing phenomenon of the 1990s, and the automation that took off in the 2000s.)

Most of these digital technologies have been brewing for some time. Some are not yet ready for application at scale. But many are now at a point where their greater reliability and lower cost are starting to make sense for industrial applications. However, companies are not consistently aware of the emerging technologies. We surveyed 300 manufacturing leaders in January 2015; only 48 percent of manufacturers consider themselves ready for Industry 4.0. Seventy-eight percent of suppliers say they are prepared.

Consider an example of each disruptive trend:

· Big data. An African gold mine found ways to capture more data from its sensors. New data showed some unsuspected fluctuations in oxygen levels during leaching, a key process. Fixing this increased yield by 3.7 percent, worth up to $20 million annually.

· Advanced manufacturing analytics. Stronger analysis can dramatically improve product development. One automaker uses data from its online configurator together with purchasing data to identify options that customers are willing to pay a premium for. With this knowledge, it reduced the options on one model to just 13,000—three orders of magnitude fewer than its competitor, which offered 27,000,000. Development time and production costs fell dramatically; most companies can improve gross margin by 30 percent within 24 months.

· Human-machine interfaces. Logistics company Knapp AG developed a picking technology using augmented reality. Pickers wear a headset that presents vital information on a see-through display, helping them locate items more quickly and precisely. And with both hands free, they can build stronger and more efficient pallets, with fragile items safeguarded. An integrated camera captures serial and lot ID numbers for real-time stock tracking. Error rates are down by 40 percent, among many other benefits.

· Digital-to-physical transfer. Local Motors builds cars almost entirely through 3-D printing, with a design crowdsourced from an online community. It can build a new model from scratch in a year, far less than the industry average of six. Vauxhall and GM, among others, still bend a lot of metal, but also use 3-D printing and rapid prototyping to minimize their time to market.

These changes and many others like them are sure to be far reaching, affecting every corner of the factory and the supply chain. The pace of change, however, will likely be slower than what we’ve seen in the consumer sector, where equipment is changed frequently. The coming of steam power and the rise of robotics resulted in the outright replacement of 80 to 90 percent of industrial equipment. In coming years, we don’t expect anything like that kind of capital investment. Still, the executives surveyed estimate that 40 to 50 percent of today’s machines will need upgrading or replacement.

Lightning in a bottle

To capture the potential, manufacturers can consider three moves. Primarily, companies can gather more information and make better use of it. An oil-exploration company collected more than 30,000 pieces of data from each of its drilling rigs—yet 99 percent of that data was lost due to problems of data transmission, storage, and architecture. The tiny trickle of data it did capture was incredibly useful for managers. But so much more can be done. The executives we surveyed said that correcting these data inefficiencies should improve productivity by about 25 percent.

With production data now available for the asking, executives rightly wonder about how to begin. Which data would be most beneficial? Which data leakages are causing the most pain? Which technologies would deliver the biggest return on investment for a company, given its unique circumstances? To sort through the choices, manufacturing leaders can use a “digital compass”. The compass consists of eight basic value drivers and 26 practical Industry 4.0 levers. Cross-functional discussions that will help companies find the levers that are best suited to solve their particular problems.

One kind of lost value that is sure to interest manufacturers is process effectiveness. Industry 4.0 offers new tools for smarter energy consumption, greater information storage in products and pallets (so-called intelligent lots), and real-time yield optimization. Swiss giant ABB used the latter in an Australian cement kiln. A computer-based system mimics the actions of an “ideal” operator, using real-time metrics to adjust kiln feed, fuel flow, and fan-damper position. The company found that the new tools boosted throughput by up to 5 percent.

The bigger picture

Strategists should also take Industry 4.0 into account as they contemplate the company’s future directions—the second way to capture the potential. The traditional manufacturing business model is changing, and new models are emerging; incumbents must be quick to recognize and react to these new competitive challenges. More specifically, executives must consider the following options—and watch for others that may be deploying them. Eighty-four percent of the manufacturing suppliers we surveyed expect new competitors to enter the market soon.

· “Platforms,” in which products, services, and information can be exchanged via predefined streams. Think open-source software applied to the manufacturing context. For example, a company might provide technology to connect multiple parties and coordinate their interactions. SLM Solutions, a 3-D-printer manufacturer, and Atos, an IT services company, are currently running a pilot project to develop such a marketplace. Customers can submit their orders to a virtual broker platform run by Atos. Orders are then allocated to SLM’s decentralized network of production sites, and subsequently produced and shipped to the customer. Some companies are also trying to build an “ecosystem” of their own, as Nvidia has in its graphics-processor business. It provides software developers with resources, and offers start-ups help to build companies around Nvidia technologies.

· Pay-by-use and subscription-based services, turning machinery from capex to opex for manufacturers. Rolls-Royce pioneered this approach in its jet-engine business; other manufacturers have followed suit.

· Businesses that license intellectual property. Today, many manufacturing companies have deep expertise in their products and processes, but lack the expertise to generate value from their data. SAP offers consulting services that build on its software. Qualcomm makes more than half of its profits from intellectual-property royalties. Manufacturers might offer consulting services or other businesses that monetize the value of their expertise.

· Businesses that monetize data. The SCiO, a Kickstarter project, is a low-cost, pocket-sized spectrometer that uses near-infrared technology to assess the composition of materials. It is expected to cost $250, whereas traditional machines cost upward of $10,000. Every time a SCiO is used, it contributes to a large database of scanned materials, helping to make the machine more accurate. To be sure, it is a consumer product, and not yet ready for industrial use. But industrial models are on the way. Kaggle, a distributed network of about 270,000 data scientists, has already helped more than 20 Fortune 500 companies solve their toughest data problems.

To get the most out of Industry 4.0 technologies, and to get past square one with a digital business model, companies will have to take a third step: prepare for a digital transformation. Manufacturers should begin today to join the hunt for the best digital talent, and think about how to structure their digital organization. Data management and cybersecurity will be critical problems to solve. Many companies will find that a “two speed” data architecture can help them deploy new technologies at the speed required, while also preserving mission-critical applications.

#Manufacturing analytics

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mickaelmosse · 4 years ago

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9 Rules of Crypto Trading

No, the successful operators are not us. We have been lucky a few times and are still refining and testing strategies; On the other hand, we are part of communities of people who operate daily to grow their portfolios, and while some of the results can be attributed to luck, most are based on fundamentals, good habits, and experience.

Mickael Mosse points out that, One of those groups that we have recently joined is Pure Investments, where we met Miles. Pure Investments is a Discord channel where people interested in trading get to chat about cryptocurrency, market trends, the latest news, and other interests. We have been a part of your community since late 2017 and have learned a lot not only from the team’s analysts but also from the community as a whole.

Please note that Pure Investments, nor any other groups that you participate in or actively contribute to, are not Pump and Dumo groups, they are legitimate communities of cryptocurrency enthusiasts and operators. says Mickael Mosse.

The result of good habits

Miles is the co-founder of Pure Investments. In May 2017, he started playing with $ 1,000, which he accumulated by saving 10% of his checks over time. Today, he has $ 46,000; that is, it increased its portfolio by 46x in less than a year.

Similarly, after starting Pure Investments in September 2017, Miles landed one of his first community members, using the pseudonym SP on the Discord channel. When SP started, he brought in $ 40,000. In January 2018, he had over $ 1 million (today it is approx $ 800,000 due to the recent btw Bitcoin decline).

While markets like cryptocurrency are extremely volatile and all investors are subject to price fluctuations, including Miles, SP, both us and you, good habits will help mitigate losses and maximize profits.

1- Only invest what you can lose

Mickael Mosse points out that, During the recent crisis in January 2018, the fans were burned. The frustration and loss reports came at the cost of broken monitors, broken laptops, and heavy monetary losses. While the rules have a more particular order of importance, it is safe to assume that this is the most important rule, the rule to govern the rules. As soon as your money is converted to cryptocurrency, consider it lost forever. There is absolutely no guarantee that you can get it back. Losses do not simply come from market dips; Other factors such as outages, mistakes, and government regulation can mean that you will never see your money again. If you invest money that you cannot afford to lose, you should take a step back and re-evaluate your current financial situation, because what you are about to do is an act of desperation. This includes: using credit cards, taking out mortgages, applying for loans, or selling everything and traveling the world (as glamorous as it sounds).

2- Always pay attention to Bitcoin

According to Mickael Mosse, Most of the altcoins (all cryptocurrencies except Bitcoin) are more related to Bitcoin ([BTC-USD]) than Asian currencies to USD during the Asian financial crisis. If the price of Bitcoin rises sharply, the price of altcoins may drop as people try to get out of altcoins to take advantage of BTC gains; Conversely, if btw prices plummet drastically, altcoin prices may drop as well, as people abandon altcoins to switch back. The best times for altcoin growth appear when Bitcoin shows organic growth or decline or remains stagnant in price.

3- Never put all your eggs in one basket

To diversify. While the potential to earn more increases with the amount of money invested in a coin, the possibility of losing more is also magnified. Another way to think about this is to look at the cryptocurrency market as a whole; If you think this is just the beginning, then it is more than likely that the entire cryptocurrency market cap will increase. What are the chances that this increase in market capitalization will be recorded entirely by one coin and not by the momentum of many currencies? The best way to safely capture overall cryptocurrency growth is to diversify and reap the benefits of multi-currency growth. Plus, it’s a fun fact: Between January 2016 and January 2018, Corgicoin increased by 60,000x, and Verge increased by 13,000x. During the same period, btw increased by 34x. While you would make impressive gains from Bitcoin

4-Dododon’t be greedy

According to Mickael Mosse, As a coin begins to grow, the greed within us grows along with it. If a coin rises 30%, why not consider making a profit? Even if the goals are set at 40% or 50%, you should at least take part of the profit down the road in case a coin misses the goal. If you wait too long or try to break out at a higher point, you run the risk of losing profits you already made or even turning those profits into a loss. Get in the habit of taking profits and looking for new entries if you want to continue reaping potential profits.

5- Do not invest blindly

There are people in this world who would sell a blind man a pair of glasses if they could make money. Those same people play the cryptocurrency markets and seize every opportunity to exploit the less-informed investors. They will tell you what to buy or announce the rise of certain currencies, just to raise prices and get out. Due to the highly speculative nature of today’s cryptocurrency markets, a good investor will always do their own research to take full responsibility for the potential investment outcome. Information from even the best investor is great information at best, but never promise, so you can still get burned.

6- No FOMO

This is a place where people lose money most often. A pinch of manipulation, two tablespoons of media hype, a glass of announcements from CME and CBOE, and a generous handful of FOMO pushed Bitcoin prices from $ 10,000 to $ 20,000 in December. Since then, Bitcoin has dropped to a low of $ 9,000 and is currently hovering around $ 11,000. It’s easy to look back and say, “If I had waited a month, I could have bought $ 9,000 instead of waiting for btw to hit $ 20,000 again for me to come out. But the reality is that the combination of 1) being greedy, 2) investing blindly, and 3) FOMO were probably big contributors to buying at an all-time high. Even in the crazy world of cryptocurrencies, if a coin goes up so fast, it will correct: it’s a matter of time. Speculative bubbles are almost always followed by major lows.

Mickael Mosse Bitcoin advisor

7- Categorize your investments and see the long term

In the process of your research, you will eventually realize that you come across a few different categories of coins. For some of them, they believe they have good teams, great vision, incredible publicity, and a track record of successful execution. Great! Put them in medium or long-term containers and let them marinate in a delicious steak. When the price drops, don’t even consider panic selling because anything in your medium or long-term portfolio must remain intact for a certain amount of time. BNB is a good example of a coin that Miles considers to have a high hold. Recently, it fell 20% for a while, and within our community, we witnessed some sales to preserve investments. A week later, it jumped to almost 3 times its value, and for a few days.

8- Always learn from your mistakes

According to Mickael Mosse, Never accept a total loss. Always assess the situation and try to find out why it happened. Take that experience as an asset to your next move, which will be better because you now know more than you did before. We all started out as amateurs, and we have all lost money during our trading experience. In his first month of trading, Miles went from $ 1,000 to $ 300. He loses a lot of selling losses inspired by fear. Nobody is perfect, nobody wins all trades. Don’t let losses put you off, because the reality is that they are making you a better trader if you choose to learn from them.

9- If you are doing any active trade, set stop loss

For any currency that is not in its medium or long term holds, always set stop loss. This is important for a number of reasons, the most obvious of which is mitigating your losses. But more importantly, you force yourself to decide on an acceptable loss point, and since you now have a benchmark, you can measure your effectiveness in holding or adjusting future trades. Sometimes during a market crash, altcoins can take a nosedive, and stopping losses can lead to profitability through automatic selling that you can use to re-enter at lower prices.

Mickael Mosse Blockchain Advisor

Always check the ticker symbol

Symbols are sometimes not universal and may vary from market to market. In those cases, however, they can have a very bad time again. For example, btw Cash is traded on some exchanges like BCH, while it is traded on others like BCC. BCC is also the ticker symbol for BitConnect, which recently came out as a Ponzi scheme. If you bought BCC under the impression that it was Bitcoin Cash, you would have lost a lot of money.

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margdarsanme · 4 years ago

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NCERT Class 12 Political Science (World) Chapter 1 The Cold War Era

NCERT Class 12 Political Science Solutions (Contemporary World Politics)

Chapter 1 The Cold War Era

TEXTBOOK QUESTIONS SOLVED : Q 1. Which among the following statements about the Cold War is wrong? (а) It was a competition between the US and Soviet Union and their respective allies. (b) It was an ideological war between the superpowers. (c) It triggered off an arms race. (d) The US and USSR were engaged in direct wars.

Answer: (d) The US and USSR were engaged in direct wars. Q 2. Which among the following statements does not reflect the objectives of NAM? (a) Enabling newly decolonised countries to pursue independent policies. (b) No to joining any military alliances. (c) Following a policy of neutrality on global issues. (d) Focus on elimination of global economic inequalities.

Answer: (c) Following a policy of neutrality on global issues. Q 3. Mark correct or wrong against each of the following statements that describe the features ol Tliitary alliances formed by the superpowers. (a) Member countries of the alliance are to provide bases in their respective lands for superpowers. (b) Member countries to support the superpower both in terms of ideology and military strategy. (c) When a nation attacks any member country, it is considered as an attack on all the member countries. (d) Superpowers assist all the member countries to develop their own nuclear weapons.

Answer: (a) True (6) True (c) True (d) False Q 4. Here is a list of countries. Write against each of these blocs they belonged to during the Cold War.

Answer: (a) Poland—Eastern Alliance (Warsaw Pact) (b) France—Western Alliance (NATO) (c) Japan—Western Alliance (NATO) (d) Nigeria—NAM (e) North Korea—Eastern Alliance (Warsaw Pact) (f) Sri Lanka—NAM Q 5. The Cold War produced an arms race as well as arms control. What were the reasons for both these development?

Answer: The Cold War produced an arms race as well as arms control: 1. Cuban Missile Crisis engaged both of them (superpowers) in the development of nuclear weapons to influence the world. 2. US dropped nuclear bombs on the cities of Hiroshima and Nagasaki with the intention to stop Soviet Union from making military and political gains in Asia. 3. Both the powers were not ready to initiate a war because they knew that destruction from these will not justify any gain for them. 4. Both the powers were to be rational and responsible being restraint and avoiding risk of another World War to ensure human survival. 5. Hence, both the superpowers decided to limiting certain kinds of nuclear and non-nuclear weapons by signing various significant agreements within a decade i.e. Limited Test Ban Treaty, Nuclear Non-proliferation Treaty, Anti Ballistic Missile Treaty etc. Q 6. Why did the superpowers have military alliances with smaller countries? Give three reasons.

Answer: Superpowers had military alliances with smaller states who were helpful for them in gaining access to: 1. Vital resources as oil and minerals. 2. Territory from where the superpowers could launch their weapons and troops. 3. Locations from where they could spy on each other. 4. Economic support to pay their military expenses. Q 7. Sometimes it is said that the Cold War was a simple struggle for power and that ideology had nothing to do with it. Do you agree with this? Give one example to support your position.

Answer: Yes, the Cold War was a simple struggle for power and that ideology had nothing to do with it because:

1. The Cold War led to several shooting wars but this did not lead to another World War. 2. Despite direct confrontations in Korea (1950-53), Berlin (1958-62), the Congo (early 1960s), neither alliance system crossed certain limits. 3. Many lives have been lost in some of the arenas like Korea, Vietnam and Afghanistan but World War spread a nuclear war or global hostilities. Q 8. What was India’s foreign policy towards the USandUSSR during the Cold War era? Do you think that this policy helped India’s interests?

Answer: India’s foreign policy towards the US and USSR was two fold: 1. Took particular care in staging away from the two alliances. 2. Raised voice against the newly decolonised countries becoming part of these alliances. 3. Moreover, India tried to reduce the differences and rivalries between these alliances from escalating into a full scale war. Yes, this policy served India’s interests also: 1. Non-alignment allowed India to take international decisions that served India’s interests rather than interests of superpowers and its allies. 2. India maintained a balance between two superpowers as if India felt ignored by one superpower it could tilt towards other superpowers. 3. Neither the alliance could take India for granted. Q 9. NAM was considered a ‘third option’ by third world countries! How did this option benefit their growth during the peak of the Cold War?

Answer: Non-alignment offered newly decolonised countries of Asia, Africa and Latin America, a third option—not to join either alliance. A majority of NAM members was categorised as the Least Development Countries (LDCs), to be developed more economically not to remain dependent on richer countries. A new International Economic Order (NIEO) originated with this realisation. The United Nations Conference on Trade and Development (UNCTAD) brought out a report in 1972 entitled towards a New Trade Policy for Development which proposed a reform of global trading system: 1. LDCs got control over their own natural resources which were being exploited by developed western countries. 2. To make western market available for LDCs to make trade more beneficial. 3. To reduce cost of-technology from western countries. 4. To provide LDCs with a greater role in international economic institutions. Q 10. What do you th nk about the statement that NAM has bdcoPie irrelevant today? Give reasons to support your opinion. Or What is the relevance of non-aligned movement after the end of Cold War?

Answer: By the mid 1970s, NAM had become an economic pressure group and by late 1980s, the NIEO initiative had faded due to stiff competition from developed countries who acted as a united group while non-aligned countries struggled to maintain their unity in face of this opposition. Non-alignment both as an international movement and as a core of India’s foreign policy lost some of its earlier relevance. Though non-alignment contained some core values and enduring ideas. It was based on a recognition that decolonised states shared a historical affiliation and can become powerful force if they come together, as very small and poor countries need not to become follower of any big powers instead they could persue an independent foreign policy also. In nutshell, it can be concluded that NAM has not lost its relevance. It has stood test of adverse circumstances. It has served an important purpose of protecting and preserving interests of third world countries.

Very Short Answer Type Questions [1 Mark]

Q 1. Why was the North Atlantic Treaty Organisation also called Western Alliance?

Answer: The North Atlantic Treaty Organisation was an association of twelve states. All these states belonged to western Europe. Therefore, this association was also called Western Alliance. Q 2. Name the two superpowers responsible for Cold War. When did the world become unipolar?

Answer: The US and USSR were responsible for Cold War. The world became unipolar in 1991 after disintegration of USSR. Q 3. What does USSR stand for?

Answer: Union of Soviet Socialist Republic. Q 4. When did NATO and WARSAW PACT come into existence?

Answer: NATO—April 1949 WARSAW PACT—1955 Q 5. Mention the period of first and second World Wars.

Answer: First World War: 1914-1918 Second World 1939-1945 Q 6. What is meant b; .old War?

Answer: Cold War is a state of extreme unfriendliness existing between two superpowers especially with opposing political system which expresses itself not through fighting but through political pressures and threats. Q 7. “ Non-alignment does not imply neutrality or equidistance.” What does this statement mean?

Answer: Neutrality refers to a policy of staying out of war and not to help end a war. Non-aligned states including India worked to prevent wars and rivalries between others. Q 8. What was deterrence relationship between superpowers?

Answer: Deterrence relationship refers that both sides have the capacity to retaliate against an attack and to cause so much destruction that neither can afford to initiate war. Q 9. How did superpowers maintain arms- control?

Answer: Superpowers maintained arms control by signing significant agreements within a decade as Limited Test Ban Treaty, Nuclear Non-proliferation Treaty, Anti- Ballistic Missile Treaty and hold several rounds of arms limitation talks. Q 10. What do you understand by Least Developed Countries?

Answer: Majority of NAM members were categorised as Least Developed Countries (LDCs) to be more developed economically and to lift their people out of poverty. Q 11. What was the difference in the ideology of Western Alliances and that of Eastern Alliances?

Answer: The Western Alliance headed by the US represented ideology of liberal democracy and capitalism while the eastern alliance headed by Soviet Union committed to socialism and communism. Q 12. What was India’s policy of Non¬alignment?

Answer: India’s policy of Non-alignment was not a policy of‘fleeing away’ instead India was in favour of actively intervening in world affairs to soften Cold War rivalries and prevented differences from escalating into a full scale war. Q 13. Why did India not join either of the two camps during the Cold War?

Answer: India did not join either of the two camps during the Cold War because India played an active role in mediating between the two rival alliances for the sake of peace and stability. Their strength was based on unity of NAM members and their resolve to remain non-aligned despite the attempts and made by two superpowers to bring them into their alliances. Q 14. How were the military alliances beneficial to smaller nations during the Cold War?

Answer: Smaller nations got the promise of protection, weapons and economic aid against their local and regional rivals. A state was supposed to remain tied to its protective superpowers to unite influence of other superpower and its allies. Q 15. Name any two foreign leaders alongwith the countries they belonged to, who are recognised as the founders of NAM.

Answer: Yugoslavia’s Josip Broz Tito; Egypt’s leader Gamal Abdel Nasser. Q 16. What was Limited Test Ban Treaty (LTBT)?

Answer: It was arms control treaty between superpowers. It banned nuclear weapon tests in the atmosphere, in outer space and under water. It was signed by the US, UK and USSR in Moscow on 5 August, 1963. It entered into force on 10 October, 1963. Q 17. When and where the first NAM Summit was held?

Answer: The first NAM Summit was held in Belgrade in 1961 and it was attended by 25 member states.

Very Short Answer Type Questions [2 Marks]

Q 1. What is meant by the Cuba Missile Crisis?

Answer: Cuba was an ally of the Soviet Union and received both diplomatic and financial aid from it. In 1962, Soviet Union placed nuclear missiles in Cuba to convert it into a Russian base. This move fired the US. It ordered American warships to intercept any Soviet ships heading to Cuba as a way of warning the USSR of its seriousness. A clash seemed imminent in what came to be known as the Cuban Missile Crisis. Q 2. What was the main objective of New International Economic Order?

Answer: The main objective of NSEO was to develop more to Least (Economic) Developed countries of NAM and to lift them out of poverty by their sustainable development. Q 3. Mention two military features of the Cold War.

Answer: 1. Cold War divided the world into two divisions namely Western and Eastern alliances as well as SEATO and CENTO. 2. Mad arms race had taken to manu-facture atom-bomb and nuclear weapons by Super Powers of the world. Q 4. Explain Eastern and Western alliance during Cold war.

Answer: 1. Cold War gave birth to Eastern Alliance known as Warsaw Pact headed by Soviet Union in 1955 with the principal function to counter NATO’s forces. 2. Cold War created Western Alliance known as NATO in April 1949 by association of twelve states. Its policy was that an armed attack on any one of them would be regarded as an attack on all of them and everybody would be obliged to help each other. Q 5. When did NATO come into existence? How many states joined it?

Answer: NATO came into existence in April 1949 and twelve sca+ joined it. Q 6. Name any two t,rms control treaties signed between two superpowers in 1960s.

Answer: 1. Limited Test Ban Treaty (5 August, 1963) 2. Nuclear Non-proliferation Treaty (1 July, 1960) Q 7. Name two leaders who played crucial role in Cuban Missile Crisis.

Answer: 1. Nikita Khrushchev—Leader of Soviet Union 2. John F. Kennedy—US President Q 8. Explain any four objectives on Non- aligned Movement.

Answer: 1. NAM aimed at an end of colonisation and freedom to all nations. 2. NAM promoted and maintained international peace and security. 3. NAM aimed at removal of disparity among developed, poor and very small countries. 4. NAM aimed at promotion of New International Economic Order to encourage cooperation among nations. Q 9. Mention any four important events which took place during Cuban Missile Crisis.

Answer: 1. In 1962, USSR installed Missiles in Cuba with intention to convert it into Russian base. 2. America became aware of it and as a warning ordered American warship to intercept Soviet ships moving to Cuba. 3. The US was feared of developing nuclear weapons on part of the USSR to challenge supremacy of the US. 4. The Cuban Crisis divided the world into two power blocs to expand their own spheres of influence in the world. Q 10. Who was the key leader of NAM who tried to reduce the Cold War conflicts?

Answer: Pt. Jawahar Lai Nehru was the key leader of NAM who played a crucial role in mediating between two Koreas. Nehru appealed for reduction of Cold War conflicts and the establishment of world peace and security through co-operative disarmament. Q 11. Why were most of the countries categorised as Least Developed Countries?

Answer:1. The economic development of these countries was very low. 2. They were dependent on richer countries for their sustainable development. 3. Their natural resources were being exploited by developed countries. 4. They could not participate in international economic institutions and they had a little say, if participated.

Short Answer Type Questions [4 Marks]

Q 1. Why did India distance itself from the two camps led by the U.S. and the Soviet Union? Explain.

Answer: The end of the Second World War was the beginning of the Cold War between the two superpowers of the world, namely the US and the USSR. These two superpowers were keen on expanding their spheres of influence in different parts of the world. Most countries of western Europe sided with the US and those of eastern Europe joined the USSR. But India kept a distance from these superpowers. It means, it became a member of the non-alignment-movement by not joining either alliance. Non-alignment was not a noble international cause which had little to do with India’s real interests. A non-aligned posture also served India’s interests very directly, in at least two ways. (t) Non-alignment allowed India to take international decisions and stances that served its interests rather than the interests of the superpowers and their allies. . (ii) India was often able to balance one superpower against the other. If India felt ignored or unduly pressurised by one superpower, it could tilt towards the other. Neither alliance system could take India for granted or bully it. Q 2. “The drop of bombs on Hiroshima and Nagasaki by the US was a political game.” Justify the statement.

Answer: The Second World War ended when the United States dropped two atomic bombs on Japanese cities of Hiroshima and Nagasaki in August 1945 causing Japan to surrender. Moreover, this action was criticised on the ground that the US knew that Japan was about to surrender and dropping of bombs was not necessary. US action was intended to stop Soviet Union from making military and political gains in Asia and elsewhere and to show that the US was supreme. Q 3. Explain the Cuban Missile Crisis.

Answer: In 1962, Soviet Union decided to convert Cuba into a Russian base as it provided USSR diplomatic and financial aid both. Hence, Soviet Union placed nuclear missiles in Cuba. The US became aware of it and ordered American warships to intercept to Soviet Union to remove missiles to avoid full scale nuclear war. A clash seemed imminent what came to be known as Cuban Missile Crisis. Q 4. Name any two founders of Non-aligned Movement. The first NAM summit was the culmination of which three factors?

Answer: Two founders of Non-aligned Movement were: 1. Indonesia’s Sukarno and 2. Ghana’s Kwame Nkrumah The first NAM was held in Belgrade in 1961. This was the culmination of following three factors: 1. Cooperation among member countries. 2. Growing cold war tensions and its widening arenas. 3. The dramatic entry of many new decolonised African countries into international arena. Q 5. What is the rationale of Non-aligned movement after the end of Cold War? Or Whmh core values keep non-alignment relevant even after Cold War has ended?

Answer: Non-aligned Movement was based on a recognition that decolonised states shared a historical affiliation and can become powerful force if they come together. It meant that very small and poor countries need not become followers of any big power, instead they could persue an independent foreign policy also. It was based on a resolve to democratise the international system to redress existing inequities also. Q 6. “ Non-alignment posture was in the interest of India”. How?

Answer: Non-alignment posture was in the interest of India because: 1. Non-alignment allowed India to take international decisions to serve her own interests. 2. India maintained a balance between two superpowers as if India felt ignored by one. India would tilt towards other superpower. Q 7. How did deterrence relationship prevented war between two superpowers?

Answer: 1. Even if one of them tries to attack and disable the nuclear weapons of its rivals, the other would still be left with enough nuclear weapons to inflict unacceptable destruction. 2. Both sides have capacity to retaliate against an attack and to cause so much destruction that neither can afford to initiate war. 3. Both superpowers were expected to behave more rationally and in responsible manner in the sense that they understood the risks in fighting wars which may create a massive destruction.

Passage Based Questions [5 Marks]

1. Read carefully the passage given below and answer the following questions: The Cold War was not simply a matter of power rivalries, military alliances and of balance of power. These were accompanied by a real ideological conflict as well, a difference over- the best and most appropriate way of organising political, economic and social life all over the world. Questions 1. Why is a war like situation called Cold War? 2. Identify one military pact each signed by each of the two super powers to balance the power rivalries. 3. Differentiate between the ideologies represented by the rival blocs.

Answer: 1. The Cold War referred to the competition, the tensions and a series of confrontations between the US and Soviet Union. It never escalated into a hot war, i.e. a full-scale war between these two powers. 2. The US and USSR decided to collaborate in limiting or eliminating certain kinds of nuclear and non-nuclear weapons. A stable balance of weapon, they decided, could be maintained through ‘arms control’. Starting in the 1960s, the two sides signed significant agreements, namely, Limited Test Ban Treaty and Nuclear Non-Proliferation Treaty. 3. The Western alliance, headed by the US, represented the ideology of liberal democracy and capitalism while the eastern alliance, headed by the Soviet Union, was committed to the ideology of socialism and communism.

2. Read the passage (NCERT Textbook, pages 2-3) given below carefully and answer the questions: In April 1961… the Soviet Union were worried that the United States of America would invade communist ruled Cuba and overthrow the Cuban President Fidel Castro…. Nikita Khrushchev, the leader of Soviet Union, decided to convert Cuba into a Russian base. In 1962, placed nuclear missiles… Three weeks after the Soviet Union had placed the nuclear weapons in Cuba, the Americans became aware of it. They became reluctant to do anything that might lead to full scale war between the two countries… A clash seemed imminent in what came to be known as “Cuban Missile Crisis”. The prospects of this clash made the whole world nervous. Questions 1. Why was the Soviet Union worried about America invading Cuba? 2. In response to the action taken by America, what did Nikita Khrushchev do? 3. Why were the two superpowers reluctant to start nuclear war?

Answer: 1. The Soviet Union was worried about America invading Cuba that the US world overthrew Cuban President Fidel Castro to capture power in Cuba. 2. They became reluctant to do anything that might lead to to full scale war between the two countries. 3. The two superpowers became reluctant because both of them knew that it might lead only a massive destruction and will not justify any gain for them.

3. Read the passage given below carefully and answer the questions: The Western alliance was formalised into an organisation, the North Atlantic Treaty Organisation (NATO), which came into existence in April 1949. It was an association of twelve states which declared that armed attack on any one of them would be regarded as an attack on all of them. Each of these status would be obliged to help each other. The eastern alliance known as the Warsaw Pact was led by Soviet Union, created in 1955 and its principal function was to counter NATO’s forces in Europe. Questions 1. What does NATO stand for? 2. What was NATO’s policy? 3. What was Warsaw Pact? 4. Mention the main function of Warsaw Pact.

Answer: 1. NATO stands for North Atlantic Treaty Organisation. 2. NATO was an association of twelve states which declared that armed attack on any one of them would be regarded as an attack on all of them and each of them would be obliged to help each other. 3. Warsaw Pact was eastern alliance, led by Soviet Union, created in 1955. 4. Main function of Warsaw Pact was to counter NATO’s forces in Europe.

Long Answer Type Questions [6 Marks]

Q 1. Describe any six factors responsible for the disintegration of USSR. Or What is meant by New International Economic Order? Mention any four reforms of the global trading system proposed by UNCTAD in 1972.

Answer: Six factors responsible for the disintegration of USSR are— (i) The internal weaknesses of Soviet political and economic institutions failed to meet the aspirations of the people. (ii) Economic stagnation for many years led to severe consumer shortages and a large section of Soviet society began to doubt and question the system and to do so openly. (iii) The Soviet Union had become stagnant in an administrative and political sense as well. The Communist Party that had ruled the Soviet Union for over 70 years was not accountable to the people. Ordinary people were alienated by slow and stifling administration, rampant corruption, the inability of the system to correct mistakes it had made, the unwillingness to allow more openness in government and the centralisation of authority in a-vast land. (iv) The Soviet economy used much of its resources in maintaining a nuclear and military arsenal and the development of its satellite states in Eastern Europe and within the Soviet system. This led a huge economic burden that the system could not cope with. (v) When Gorbachev became the President, he carried out reforms and loosened the system. He set in motion forces and expectations that few could have predicted and became virtually impossible to control. There were sections of Soviet society which felt that Gorbachev should have moved much faster and were disappointed and impatient with his methods. Others, especially members of the Communist Party and those who were served by the system, took exactly the opposite view. In this tug of war, Gorbachev lost support on all sides. (vi) The rise of nationalism and the desire for sovereignty within various republics including Russia and the Baltic Republics, Ukraine, Georgia, and others proved to be the final and most immediate cause for the disintegration of the USSR. Or The non-aligned countries were more than merely mediators during the’ Cold War. The challenge for most of the non-aligned countries — a majority of them were categorised as the Least Developed Countries (LDCs) — was to be more developed economically and to lift their people out of poverty. Economic development was also vital for the independence of the new countries. Without sustained development, a country could not be truly free. It would remain dependent on the richer countries including the colonial powers from which political freedom had been achieved. The idea of a New International Economic Order (NIEO) originated with this realisation. The UNCTAD brought out a report in 1972 entitled Towards a New Trade Policy for Development. The report proposed a reform of the global trading system so as to: (i) give the Least Developed Countries (LDCs) control over their natural resources exploited by the developed western countries. (ii) obtain access to western markets so that LDCs would sell their products and, therefore, make trade more beneficial for the poorer countries. (iii) reduce the cost of technology from the western countries, and (iv) provide the LDCs with a greater role in international economic institutions. Q 2. What led to the emergence of bipolar world? What were the arenas of Cold War between the two power blocs?

Answer: Emergence of bipolar world: 1. Two superpowers expanded their own spheres of influence in different parts of the world. 2. It divided the world into two alliances namely Western and Eastern alliance headed by the US and Soviet Union respectively. 3. The smaller states in alliances got the promise of protection of weapons and economic aid against their local rivals, hence they remained tied to its protective superpowers to limit influence of other superpower and its allies.

Arenas of Cold War: 1. Crisis and war occurred between alliance systems but did not cross certain limits. 2. Many lives were lost in Korea, Vietnam and Afghanistan, but world was spared from nuclear war and global hostilities. 3. The Cold War led to several shooting wars but it did not lead to another World War despite direct confrontations in Korea (1950-53), Berlin (1958-62) and the Congo (the early 1960s). Q 3. How did Europe become main arena of conflict between the superpowers?

Answer: 1. Superpowersusedtheirmilitarypower to bring countries into their respective alliances. 2. Soviet Union used its influence in Eastern Europe so that the eastern half of Europe remained within its sphere of influence. 3. In East and Southeast Asia and in West Asia, the US built an alliance called South East Asian Treaty Organisation (SEATO) and the Central Treaty Organisation (CENTO). 4. The Soviet Union responded by having close relations with regional countries such as North Vietnam, North Korea and Iraq. Q 4. “India’s policy of non-alignment was criticised on a number of counts.” Explain.

Answer: A non-aligned posture also served India’s interests very directly as well as India intervened in world affairs to soften cold war rivalries by reducing differences between the alliances and from escalating into a full scale war. Though India’s policy of non-alignment was criticised on a number of counts: 1. India’s non-alignment was said to be ‘unprincipled’ in the name of persuing in national interest. 2. India often refused to take firm stand on crucial international issues. ! 3. Sometimes India took contradictory postures, having criticised others for joining alliances, Indian signed the Treaty of friendship in August 1971 with the USSR for 29 years 4. During Bangladesh crisis also India developed good relations even with the US in the name of diplomatic and military support. Q 5. Explain various arms control treaties. Or Define the various treaties to control arms.

Answer:

1. Limited Test Ban Treaty: Banned nuclear weapon tests in the atmosphere, in outer space and under water signed by the US, UK and USSR in Moscow on 5 August 1963 came into force on 10 October, 1963.

2. Nuclear Non-Proliferation Treaty: It allows only nuclear weapon states to have nuclear weapons and stops others from acquiring them. A nuclear weapon state is one which had manufactured and exploded nuclear explosive device prior to 1 Janaury, 1967. So there are five nuclear weapon states: US, USSR, Britain, France and China.

3. Strategic Arms Limitation Talks I and II (Salt I and II): The first round began in November 1969. The Soviet Union leader Leonid Brezhnev and the US President Kichard Nixon signed the following in Moscow on 26 May 1972— (a) Anti Ballistic Missile System Treaty, (b) Interim Agreement on limitation of strategic offensive arms. It came into force on 3 October, 1972. The second round started in November 1972. The US President Jimmy Carter and the Soviet leader Brezhnev signed Treaty on limiting strategic offensive arms in Vienna on 18 June, 1979.

4. Strategic Arms Reduction Treaty I and II (START I and II): Treaty I signed by the USSR president Mikhail Gorbachev and the’ US president George Bush (Senior) on the reduction and limitation of strategic offensive arms in Moscow on 31 July 1991. Treaty II was signed for same purpose in Moscow on 3 January, 1993 between Russian President Boris Yeltsin and the US President George Bush (Senior).

Map Based Questions [5 Marks]

1. On the political map of world locate and level the following by giving symbols to them:

Questions 1. Study the given map of the world in which six different countries have been marked 1,2,3,4,5,6. Identify these countries with their names and classify them as first, second, third world countries.

Answer:

2. Study the given map and identify these countries from each of rival blocs. Name and categorise them. These countries have been symbolised as A, B, C, D, E, F.

Answer:

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discoversuncoasthomes · 5 years ago

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Cap Rates - The Truth

The Truth About Cap Rates.

5 Myths Busted.

A lot of what you read about cap rate is simply wrong. I’m here to dispel the myths and tell you the real story. Perhaps no topic is more overrated, misunderstood, or debated than cap rate. I would also argue that cap rate has more inaccurate or misinformed articles written about it than pretty much any other topic on real estate, but no one wants to listen to me argue. Instead, why not just forget everything you’ve read about it, and start from scratch here? Cap Rate Definition Cap rate is short for “capitalization rate,” which is a mathematical formula used by appraisers to measure the value of income-producing real estate. Because it’s impractical to compare one income-producing property to another the same way you can with tract homes, a different method was needed to gauge value. Cap rate became the most widely accepted measurement. Cap rate is calculated by dividing the net operating income (NOI) by the property’s purchase price (or sale price, depending on which side of the table you are sitting on). For example, if the property produces $100,000 of NOI and is purchased for $1 million, the cap rate is 10%. If the purchase price is $2 million, the cap rate is 5%. NOI is income minus operating expenses. Debt service payments and capital improvement costs are ignored for the purpose of this calculation. NOI / (Purchase Price) = Cap Rate $100,000 / $1,000,000 = 10% Cap Rate Commercial real estate investors have an odd love affair with cap rate, which leads to all sorts of opinions on what cap rate is and what it means for their investment strategy. Here’s a list of some common statements I hear and read about cap rate: “Cap rate is equivalent to the return I receive if I pay cash for the property.” “I need to buy at a high cap rate to get the returns I’m looking for.” “A high cap rate means I’m getting a better deal.” “If interest rates rise by 1%, cap rates have to increase by 1%, too.” “I bought the property at a 5% cap rate and turned it into a 10% cap rate!” What do these five statements about cap rate have in common? They are all wrong. Yes, every one of them. Myth Busted: The All-Cash Return I wish people would stop saying, “Cap rate is the return you get if you paid all cash.” It is not. Here are two ways that this is wrong: I once bought a property that was around 300 units. The previous owner had their eye completely off the ball and hadn’t kept their rental rates up with the market. The day we closed escrow, our new management team arrived at the office to take over. Each time a new prospect walked in the door, we raised the quoted rent $25. We did this all day until the first person said no. It took five prospects, so we immediately had a $125 increase in new leases on the first day. It would only be a matter of time before the entire property cycled to the higher rate. Did that affect our return? You bet it did. So much for cap rate telling us anything about our expected return. Even if we hadn’t done that, to buy the property, we would have needed to inject additional cash to close the purchase. Closing costs, title insurance, legal fees, immediate capital improvements to correct deferred maintenance—you name it. The price we paid was not the cash we would spend. Cap rate is net operating income divided by purchase price. Our purchase price was less than the cash outlay, so this misconception of cap rate fails for a second time. Myth Busted: Higher Cap Rates Mean Higher Returns Reflecting on our second incorrect statement about cap rate, “I need to buy at a high cap rate to get the returns I’m looking for,” consider these two examples: Example 1: An 8% cap rate on a stabilized property in a stagnant market with no rent growth, no job growth, a slowly declining population, and no ability to push rents with renovations. Example 2: A 6% cap rate in a market with above-average population growth, job growth, and income growth with stable occupancy and high rent growth. The property is underperforming relative to nearby comps. With some minor cosmetic improvements, rents can be increased 20% on each unit that is rented to a new resident in upgraded condition. In nearly every case, over the long-term, example 2 will outperform example 1 despite example 1’s higher cap rate. Myth Busted: High Cap Rates Mean a Good Deal “A high cap rate means I’m getting a better deal.” This statement by itself is false. Our examples above illustrate this point across two different markets, but even within the same market you could have a property selling at an 8% cap rate that could be a worse deal than another property in the same market selling at a 6 percent cap rate. Example 1: An 8% cap rate on a 50-year-old property in which all the interiors have been recently renovated and the seller has pushed the rents to $25 higher than the comps. The property doesn’t need a thing; it is totally turnkey. Example 2: A 6% cap rate on a 20-year-old property that hasn’t been touched since it was built, except that the owner just put on a new roof. Interiors are original, rents are $150 below market, and renovated comps are getting $100 more than the non-renovated comps. Example 2 is more likely to be a better deal despite the lower cap rate. There’s nothing you can do to push the income in example 1; it’s been pushed as far as it can go. And example 1 is 50 years old. So despite the upgrades, the maintenance bills are likely to increase substantially over time. There could also be big-ticket items in your future, such as a new roof, foundation repairs, new windows, and new heating and cooling systems. The list goes on and on. But in example 2, you have multiple opportunities to increase income. The low-hanging fruit is just bringing the rents to market rate, in line with non-renovated comps. Then you have the option to go to the next level by performing minor interior cosmetic improvements to push rents further toward the level of the renovated comps in the area. Myth Busted: Rising Interest Rates Mean Rising Cap Rates It is often thought that cap rates move when interest rates move. You might hear people say things like, “If interest rates rise by 1%, cap rates have to increase by 1%, too.” There are two concepts at play that give people reason to believe this. Investment return The thinking is that if someone can invest in risk-free treasury bonds at 3% interest, why would they invest in real estate at a 4.5% cap rate? There isn’t enough of a risk premium to justify investing in real estate at such a low yield. Hopefully by now you already see why this argument is a red herring. Cap rate is not a measurement of investment return; it is a measurement of market sentiment. Under the right conditions, it’s entirely possible to capture a 20% return from a 4% cap rate property. As a result, comparing risk-free yields to real estate cap rates is like comparing airplanes to submarines. Borrowing costs The thinking here is that if interest rates rise, it costs more to borrow money. Therefore, you have to buy at a correspondingly higher cap rate in order to preserve investment returns. There are two reasons why this usually isn’t true. First, the debt represents only a portion of the purchase price, such as 65-75%—and in many cases even less—and the remainder of the purchase price is cash. This mutes the effect of a higher interest rate on the borrowed money to some extent. Second, if interest rates are increasing, it is also likely that the economy has momentum and perhaps inflation. Rents tend to rise during inflationary times, which in turn increases the income from the property—perhaps to an even greater extent than the increased borrowing cost takes from it. The bottom line is that cap rates compress and decompress at the whim of market sentiment. When real estate becomes less popular, prices go down, which means cap rates go up. When real estate is highly sought after, prices go up, which means cap rates go down. Cap rates can also move when outside factors alter investment returns. For example, if rent growth slows or operating expenses go up, the only way to achieve the same desired investment return is to pay a lower price for the property, which means buying at a higher cap rate. Interest rates are only one of the many inputs in solving for returns. Higher borrowing costs will certainly have an effect, but interest rates and cap rates don’t move precisely in parallel. Myth Busted: Forcing the Cap Rate Here’s another funny statement I hear often: “I bought the property at a 5 cap and took it to a 10 cap!” Someone might be inclined to boast this claim if, for example, they bought a property that historically threw off $100,000 NOI for $2 million (a 5% cap rate) and then they were subsequently able to increase the NOI to $200,000. But this claim fails from two directions. First is that cap rate is simply a measure of market sentiment, so “taking a 5 cap and making it a 10 cap” means that they just destroyed the market and lowered their property’s value by 50%. Remember, cap rate isn’t about their property; it’s what the market is willing to pay for an income stream. They alone can’t move the whole market, so they alone can’t move the cap rate. No matter what they did to the income later, they still bought $100,000 of historical NOI for $2 million, and that will always be a 5% cap rate. The second reason this statement fails is that they undoubtedly had to invest capital into the property by making physical improvements to drive the revenue higher. Boasting about moving cap rate (which is calculated using only the purchase price) ignores the additional capital required to achieve the higher NOI. And of course, this says nothing of the fact that using post-acquisition NOI to calculate cap rate is bending the rules of the formula itself. What anyone making this claim should be talking about is their yield on cost. This is similar to cap rate but more like a first cousin than a twin. To calculate it, divide the current NOI by the entire project cost, including purchase price, closing costs, sponsor fees, and capital improvements. Using the property from the example above, let’s say that $1 million was spent on closing costs, fees, and improvements, bringing the total project cost to $3 million, and the NOI grew from $100,000 to $200,000. In this case, they could claim that they bought the property at a 5 cap and after they stabilized it, they brought the yield on cost to 6.7%. This doesn’t sound as sexy as claiming they “made it a 10 cap,” but at least they’d be telling an accurate story. And here’s one more thing: It is entirely possible to double a property’s income and add no value at all. In the above example, if $2 million was spent on closing costs, fees, and improvements, the total project cost would be $4 million. Doubling the NOI to $200,000 results in a 5% yield on cost. If the market cap rate is still 5%, the property is worth exactly what was spent on it—there was no value added. Even if someone claims that they “brought the 5 cap to a 10 cap”—they really did nothing at all. Article courtesy of Brian Burke, President/CEO of Praxis Capital, Inc. For Specific Information contact Ed Bertha at (941) 921-2117 or [email protected] Burns & Bertha - Changing Lives - Red Line Investors - © 2020 www.DiscoverSuncoastHomes.com Read the full article

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preciousmetals0 · 5 years ago

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The Best Canadian Stocks to Buy During a Correction

The Best Canadian Stocks to Buy During a Correction:

After reading the news flow during the past two days, it seems the markets are again becoming vulnerable to another sharp correction in the last trading month of the year.

First, a bullish case built around the U.S. and China trade deal is faltering. President Donald Trump told reporters in London that he doesn’t have any deadline in his mind to sign a trade agreement with China, and he won’t mind delaying an agreement between the world’s biggest economies until after the 2020 elections.

This development is actually enough to deflate the bubble that’s built in the past two months, taking the Canadian and the U.S. stocks to a new highs, as investors moved their funds back to risky assets on hopes that the negative impact of a global trade war could be avoided.

In another negative jolt, the manufacturing data from the U.S. continues to show no sign of recovery. A gauge of U.S. factory activity showed Monday that industrial activity has weakened further last month. The Institute for Supply Management’s manufacturing index decreased to 48.1 in November from 48.3 in October, marking the fourth straight sub-50 reading. Readings below 50 indicate a contraction in activity.

With these headwinds gathering pace, and the markets not seeming to have any other catalysts to take this rally further, the risks are increasing for a deep correction that could send share values tumbling.

According to a note by economists at Morgan Stanley early this year, a global economic contraction is likely within three quarters if the U.S. puts 25% tariffs on all Chinese imports for four to six months and if the Asian country hits back.

Defensive stocks to buy

While it’s almost impossible to completely avoid the impact of a recession or a deep correction on your portfolio, it is possible to minimize it by buying stocks that are defensive in nature. In this category, companies that command a durable competitive advantage, growing free cash flows, and sticky services are the ones that fit the bill.

You can find these stocks in those areas of the markets that rarely get press. For example, telecom utilities, power and gas providers, insurance companies, and large grocery chains have less to lose when the economy slips into a full-blown recession.

While you diversify your portfolio, you should certainly add one or two quality stocks from these sectors. Let’s take the example of Canada’s largest telecom operator, BCE (TSX:BCE)(NYSE:BCE) and an electric and gas utility Fortis (TSX:FTS)(NYSE:FTS). These companies aren’t too volatile when markets are going through an uncertain period.

The reason is that their services are among the last that people would consider cutting in a recession — and that stickiness provides stability to their cash flows. BCE’s stock performance over the past five years tells us that it’s a slow-growing investment paying steadily growing dividends while preserving your capital. Similarly, the St. John’s-based Fortis has a diversified asset base, providing electricity and gas to customers in the U.S., Canada, and the Caribbean.

Between 2006 and 2019, Fortis’s annual distribution increased from $0.67 to $1.80 a share — a very impressive track record of rewarding investors. The company has increased its dividend payout for 45 consecutive years — a record few companies can maintain.

Bottom line

Buying defensive stocks that pay regular dividends is a good strategy to ward off the potential impact of a correction on your portfolio, and if that weak phase turns into a long and deep meltdown, you will still be better off, as you continue to get the income stream from these stocks.

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goldira01 · 5 years ago

Link

After reading the news flow during the past two days, it seems the markets are again becoming vulnerable to another sharp correction in the last trading month of the year.

Defensive stocks to buy

Bottom line

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#Timor Invest

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jacobhinkley · 6 years ago

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Bitcoin’s Dramatic Drop Should Not Worry Investors: Expert

Recently, Bitcoin’s price slipped to $6,000, pulling most of the altcoins down with it. Some experts see a “bear flag” in the downward-spiraling charts and predict an even greater drawdown, which is causing a wave of concerns among market participants. Is this decline in the prices of digital assets as terrible as many think?

The Light at the End of the Tunnel

There is no need to panic according to Dmitry Filatov, the founder of MATRIX CIB, a financial services firm offering crypto investment business and consulting services. Speaking exclusively to NullTX, Filatov expressed his unwavering confidence that the current market conditions will pass, as similar conditions have in the past. Borrowing from his experience in dealing with crypto investors, he remains confident that the downward spiral has done little to shake the belief of crypto investors.

First of all, it should be noted that among the potential and current MATRIX CIB’s investors, the drop in the price of Bitcoin did not cause much anxiety. We see this as a good sign: after the explosive period of investments in mining equipment and participation in dubious ICOs in 2017, a period of strategic approach and calm, thoughtful asset management is coming. This is evidenced by the fact that in meetings with potential clients we increasingly see large fiat investors. This signals the market’s desire to become more understandable and, as a result, more transparent. Also, seeing miners that want to preserve and grow their earned cryptocurrency among our clients is a promising trend.

The current price movement is normal and signals a healthy market. It’s the absence of such market movements that should worry the crypto community, Filatov noted.

In the meanwhile, the reasons for the price decline are obvious. No normal financial process goes without correction; thus, its absence would rather cause more questions by the experienced market participants than what we have now. By looking at the Bitcoin price charts it becomes visible that the pendulum finds its balance and, despite the current drawdown, keeps the overall positive trend.

Those who are having sleepless nights due to the plummeting prices do not take time to build working strategies, Filatov pointed out. These are people who are more concerned with predictions and signs, ignoring the essence of cryptocurrencies. He is also certain that the price of Bitcoin and most other cryptos will stabilize over time as institutional capital flows in.

In his interactions with crypto investors, Filatov has encountered two types of individuals. The first group, which is the majority, is made up of people who just want to see stable price growth. This group is least at ease during volatile times like the present. However, there is a second group that thrives in the volatility. This group is mainly made up of people who have some experience in trading and play a great part in maintaining the market momentum when the rest of the market is jittery.

Filatov has some advice for traders: avoid switching between investment strategies. While this tactic may succeed at first, the results are usually disastrous.

Most importantly, the thing that we do not advise doing during the market correction is to jump from one investment strategy to another. We often see how investors, whose predictions come true once or even several times, begin to buy or sell assets “manually.” Any chaotic strategy not based on mathematical analysis often leads to a complete loss of the entire cryptocurrency portfolio.

Bitcoin’s Dramatic Drop Should Not Worry Investors: Expert published first on https://medium.com/@smartoptions

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anandasamsara · 5 years ago

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Special Report: Bolsonaro brought in his generals to fight coronavirus. Brazil is losing the battle

(Reposting here from Reuters, you can find the whole thing with pictures here)

Stephen Eisenhammer, Gabriel Stargardter

SÃO PAULO/RIO DE JANEIRO (Reuters) - In mid-March, Brazil took what seemed to be a forceful early strike against the coronavirus pandemic.

The Health Ministry mandated that cruises be canceled. It advised local authorities to scrap large-scale events. And it urged travelers arriving from abroad to go into isolation for a week. Although Brazil had yet to report a single death from COVID-19, public health officials appeared to be getting out in front of the virus. They acted on March 13, just two days after the World Health Organization called the disease a pandemic.

Less than 24 hours later, the ministry watered down its own advice, citing “criticism and suggestions” it had received from local communities.

In fact, four people familiar with the incident told Reuters, the change came after intervention from the chief of staff’s office for Brazil’s President Jair Bolsonaro.

“That correction was due to pressure,” said Julio Croda, an epidemiologist who was then the head of the Health Ministry’s department of immunization and transmissible diseases. The intervention by the chief of staff’s office has not been previously reported.

The about-face, given scant attention at the time, marked a turning point in the federal government’s handling of the crisis, according to the four people. Behind the scenes, they said, power was shifting from the Health Ministry, the traditional leader on public health matters, to the office of the president’s chief of staff, known as Casa Civil, led by Walter Souza Braga Netto, an Army general.

Brazil has lost two health ministers in the past six weeks - one was fired, the other resigned - after they disagreed publicly with Bolsonaro over how best to combat the virus. The interim leader now in charge of the Health Ministry is another Army general.

More importantly, the revisions underlined the hardening of Bolsonaro’s view that keeping Brazil’s economy running was paramount, the people said. Bolsonaro, a far-right former Army captain, has never wavered on that stance formulated during a crucial few days in mid-March, despite domestic and international criticism of his handling of the crisis, and a snowballing death toll.

Brazil now has the world’s second-worst outbreak behind the United States, with more than 374,000 confirmed cases. More than 23,000 Brazilians have died from COVID-19.

“So what?” Bolsonaro said recently when asked by reporters about Brazil’s mounting fatalities. “What do you want me to do?”

Casa Civil said changes to the March 13 guidance were made by the Health Ministry, following input from states and municipalities.

The Health Ministry said there had been a divergence of views due to differing situations in states and cities nationwide. It said the implementation of physical distancing measures was the responsibility of local health authorities.

“The strategy of the Brazilian response to COVID-19 was not impaired at any point,” the ministry said.

Bolsonaro’s office declined to comment for this story.

Reuters interviewed more than two dozen current and former government officials, medical experts, healthcare industry representatives and doctors to paint the most complete picture yet of Brazil’s missteps in containing the coronavirus outbreak in South America’s largest country.

They described a response that began promisingly, but which was soon hobbled by the president’s clashes with Health Ministry and cabinet officials who could not persuade him that Brazil’s economic fortunes ultimately hinged on how effectively it tackled its public health emergency.

Health experts were sidelined, the people said, and Bolsonaro embraced an unproven remedy to treat COVID-19 infections. Federal coordination foundered. State governors – some of whom Bolsonaro regards as re-election rivals – were left to set their own physical distancing policies and secure much of their own tests and equipment, the sources said.

Some experts said Brazil’s stumbles are all the more shocking because of its previous success containing malaria, Zika and HIV.

“One thing that has been a shining light in Brazil has been their public health system,” said Albert Ko, a professor at the Yale School of Public Health who has decades of experience in Brazil. “To see that all disintegrate so quickly, it’s just been very sad.”

‘THE FRIDGE IS EMPTY’

When Brazil’s first coronavirus case was confirmed on February 26, the Health Ministry had been preparing for nearly two months.

Its personnel were running models to estimate when and how to implement stay-at-home orders in collaboration with state and local officials, sources said. The ministry was the command center for an emergency committee coordinating the federal response across multiple agencies.

Brazil’s vast size, underfunded public hospitals and widespread poverty were vulnerabilities. But the country boasts top medical scientists and a competent private healthcare sector. It had weeks of advance warning, as the virus hit countries like China and Italy first. Those on the frontline thought Brazil was in good shape to respond.

But the people who spoke with Reuters said things began to unravel along two main fronts: Bolsonaro’s opposition to shutdown measures favored by the Health Ministry and the government’s inability to scale up testing quickly.

Cabinet members tried numerous times to persuade Bolsonaro to endorse a nationwide lockdown, according to a person with direct knowledge of the discussions. Bolsonaro refused, the person said, believing the virus would soon pass and that health officials were exaggerating the need for physical distancing that had proved effective in other parts of the world.

“The masses aren’t able to stay at home because the fridge is empty,” Bolsonaro said to the media on April 20 outside his official residence in Brasília.

Bolsonaro’s office declined to comment on why he prioritized the economy. He faced pressure to do so, however. Members of his conservative base have protested in cities across Brazil against lockdowns that threaten his promise to rekindle economic growth.

Yet Bolsonaro’s economic advisors appeared slow to grasp the scale of the crisis. Economy Minister Paulo Guedes, a hardline free-market advocate, in mid-March told CNN Brasil that the nation’s economy in 2020 could “reasonably grow 2% or 2.5% with the world falling” because of coronavirus.

That prediction was far off the mark. Manufacturing activity has collapsed, unemployment is rising and Brazil’s currency is down around 30% against the dollar this year. On May 15, Barclays cut its 2020 gross domestic product forecast for Brazil to -5.7% from -3.0%. It cited Brazil’s “ineffective” policy in dealing with the pandemic.

The Economy Ministry now projects GDP will contract by 4.7% this year. In an emailed statement, it said its forecasts have evolved in line with the gravity of the situation.

Guedes declined a request to comment on his earlier prediction.

A Guedes ally, Solange Vieira, who was involved in the government’s landmark pension reform last year, likewise showed little urgency when presented with forecasts in mid-March from the Health Ministry, according to epidemiologist Croda. The ministry predicted widespread fatalities among Brazil’s elderly if the virus wasn’t contained.

“‘It’s good that deaths are concentrated among the old,” Croda recalled Vieira saying. “‘That will improve our economic performance as it will reduce our pension deficit.’”

Croda’s account was backed by another official, speaking on condition of anonymity, who was told what happened but was not in attendance.

Vieira did not respond to a message on LinkedIn. The Superintendence of Private Insurance, which she leads, said in response to questions about her comments that she attended the mid-March meeting at the invitation of then-Health Minister Luiz Henrique Mandetta to understand the ministry’s projections.

Vieira observed the impacts of various scenarios “always with a focus on the preservation of lives,” it said in a statement.

PRESSURE FROM ABOVE

For a few days in March, it looked like the fallout from a trip to Florida to meet U.S. President Donald Trump might have altered Bolsonaro’s thinking on coronavirus.

Just after returning from the visit, on March 12, Bolsonaro’s press secretary tested positive for COVID-19. In the following days, nearly two dozen Brazilians who had made the trip would test positive, embarrassing the government and sparking fears that both Bolsonaro and Trump might have been infected.

After undergoing a coronavirus test on March 12, Bolsonaro called on his supporters to suspend nationwide rallies planned for March 15 for fear of worsening the spread. The following day, he said his test came back negative. The Health Ministry, meanwhile, announced its initial social distancing recommendations at a press conference in the capital.

Then things changed.

Shortly after the new guidelines were issued on March 13, Croda said he got a call from his former boss, Health Surveillance Secretary Wanderson Oliveira, who said he was “under lots of pressure from Casa Civil and had to change the communique” published by the ministry outlining the measures. Croda said Oliveira did not say specifically who at Casa Civil had demanded the guidelines be weakened.

Within 24 hours, the ministry had changed the recommendations on its website. It removed guidance on self-quarantines for travelers and the cancellation of cruises, saying those measures were up “for review.” And it revised the cancellation of large events to apply only to areas with local transmission.

Oliveira did not respond to requests for comment. He recently left the Health Ministry.

On March 15, Bolsonaro ignored his own pronouncement from three days earlier discouraging mass rallies by his supporters. He met with a friendly crowd of demonstrators outside the presidential palace. Wearing the Brazil national soccer jersey, the president bumped fists and posed for selfies.

“It was the first time we saw that totally different stance,” then-Health Minister Mandetta told Reuters.

The next day, on March 16, Bolsonaro formalized the shift of power away from the Health Ministry, creating an inter-governmental “crisis cabinet” led by Braga Netto, the Army general heading Casa Civil. Brazil registered its first coronavirus death on March 17.

In a response to Reuters’ questions, Braga Netto’s office said the group was formed because the pandemic “transcended” public health.

Three people familiar with the situation told Reuters the new cabinet effectively superseded the cross-agency group that had already been set up inside the Health Ministry. The big difference, they said, was that Braga Netto now had the final say, instead of public health experts, and that economic concerns were given more weight.

The Health Ministry said it would not comment on economic matters. It said the response to coronavirus cut across government departments.

Croda left shortly after the creation of the new command center. He told Reuters he did not want to be held responsible for “excessive deaths.”

In the weeks that followed, policy differences between Bolsonaro and Health Minister Mandetta broke out in the open. Mandetta continued to advocate for stay-at-home measures in defiance of the president. He also urged caution about the malaria drug chloroquine. Bolsonaro, following the lead of U.S. President Donald Trump, was increasingly promoting the drug as a possible cure for COVID-19 despite little evidence of its efficacy.

Mandetta’s popularity added to the tension. An early-April survey by pollster Datafolha showed that the Health Ministry under his leadership had a 76% approval rating, more than twice that of Bolsonaro.

On April 16, after days of mounting speculation, Bolsonaro fired Mandetta. He replaced him with Nelson Teich, a respected oncologist and healthcare entrepreneur with no public health experience.

Two recently departed Health Ministry sources said the last half of April was lost while Teich “found his feet.” Decisions on testing and new equipment were delayed, they said. More than 15 public health experts, including experienced epidemiologists, left with Mandetta, one of the sources said. Many were replaced by military personnel.

“These changes greatly affect the capacity, speed, and the very quality of the response,” said José Temporão, a former health minister who led Brazil’s crisis response to the 2009 swine flu epidemic. “It was a disastrous decision.”

The Health Ministry denied that its response was hampered by the changes.

On May 15, Teich resigned after less than a month on the job. Bolsonaro had criticized him for being too timid in promoting the re-opening of Brazil’s economy and the usage of chloroquine.

Teich did not respond to a request for comment.

In a televised interview with GloboNews on Sunday, Teich said Bolsonaro’s desire for a rapid expansion of the use of chloroquine in Brazil was what led him to quit.

Teich’s departure accelerated military influence within the Health Ministry. Eduardo Pazuello, an active-duty Army general with no medical background, is now interim health minister. Of the eight people at the top of the ministry, only one had a military background in March. Now three of them do. At least 13 military personnel also have been appointed to lower ministry positions.

Days after Teich’s departure, the ministry cleared the way for the widespread use of chloroquine to treat patients with mild cases of COVID-19.

The armed forces are widely respected in Brazil and often help with logistics during emergencies. But Wildo Araujo, a former Health Ministry official who co-authored one of the country’s first major COVID-19 studies, said military personnel were being placed in unsuitable roles.

“I have the utmost respect for the armed forces, but I pity those entering now because they have no idea what to do,” he said. “They don’t know how to deal with the Brazilian public health system.”

Brazil’s Army declined to comment, referring questions to the Health Ministry, which also declined to comment on the military’s role.

TESTING TIMES

Bolsonaro’s opposition to social distancing and refusal to support local authorities in their attempts to impose lockdowns have helped erode compliance with those measures, experts said.

A Reuters analysis of Google mobility data, which collates cell phone movement and compares it to a pre-pandemic benchmark, showed a far smaller reduction in people coming and going from transit hubs and places of work in Brazil than in European countries such as Italy, France and the United Kingdom where shelter-in-place measures have been effective.

Reuters also found Brazil’s mobility reduction was less than that of other developing nations, for example Argentina, India and South Africa. Reuters analyzed data from 17 countries across Africa, Europe, Latin America and Asia for the month of April.

Like other countries, including the United States, Brazil has also struggled to secure the tests it needs. That’s a major failing, some epidemiologists say, which has made it harder to track and control the virus in Brazil.

The shortage of tests is due in part to the Health Ministry’s over-reliance on one institution.

According to an internal Health Ministry document viewed by Reuters, the ministry began purchasing diagnostic test kits through the Oswaldo Cruz Foundation (Fiocruz), a respected public health institute, between January and February.

By April 7, however, Fiocruz had only delivered 104,872 - or 3.5% - of the roughly 3 million kits the ministry had ordered, the document said. Croda and others said Fiocruz struggled to acquire crucial reagents on the international market. Industry sources said years of budget cuts may also have been a factor.

The Health Ministry should have established a broad network of private and public labs, one source said, which would have improved the ability to procure reagents and process tests.

In a statement, Fiocruz said it had met all its obligations to the Health Ministry.

It said it surpassed an initial target of 220,000 tests by April 13 and delivered nearly 1.3 million tests by the last week of that month. It said it expects to deliver 11.7 million tests by September.

“The worldwide competition for this type of test was very large,” it said, “which caused a shortage of products.”

Bureaucracy also hamstrung Brazil. A batch of 500,000 antibody tests, used to determine who has had the virus, got stuck at São Paulo’s Guarulhos airport for 9 days as the health regulator processed an exception for them to be distributed without Portuguese labels, two people with knowledge of the situation told Reuters.

The Health Ministry declined to comment on the incident. It said it has increased testing capacity and will conduct 46.2 million tests, without specifying a time frame. “The initiative is part of efforts to find new purchases in the national and international market,” it said.

As of May 12, however, Brazil had processed just 482,743 tests. Of the 10 countries with the highest COVID-19 death toll, only the Netherlands had tested fewer people than Brazil - a country with a twelfth of the population.

($1 = 5.4548 reais)

Reporting by Gabriel Stargardter and Stephen Eisenhammer; additional reporting by Ricardo Brito, Pedro Fonseca, Marcela Ayres and Lisandra Paraguassu; Editing by Marla Dickerson

Our Standards: The Thomson Reuters Trust Principles.

#life in Brazil #thats brazil for you #covid19

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speedylandcollector · 5 years ago

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Tips for managing the Grand Restaurant opening

The large opening of your restaurant may be more important than you think, especially if it is a relatively large operation. Most restaurateurs feel they can correct problems as they go, and that is true to some extent. However, if you publish a disorganized, staff-less and disappointing grand opening event, you may lose that critical benefit of making a good impression. If your opening is successful, you can capitalize on your success by attracting numerous referrals and repeating business.

The critical aspects of managing the opening of your restaurant are so important that most restaurants try to run smoothly. If your opening is so crowded that service is slow or food is out of reach, many customers will not give you a second chance. Therefore we present some restaurant soft opening ideas for entrepreneurs:

It is not essential to simplify the payment method during the opening event. Schedule enough staff to give you redundancy. You may want to program several "floaters" who are over to work in several key areas.

Your staff should know where everything is, be familiar with the menu and experience in using the POS system.

Owners and managers should be very visible. While it is important to interact with clients, managers should spend a lot of time behind the scenes to make sure things go smoothly. Your future depends on how well you manage your first few days, so don't be lazy.

Inviting friends, family members, and associates who wish you well before the official opening can provide valuable information for the big day.

You can get a great promotional bang by asking local merchants to promise you the menu or attend a meeting and come to your bar in the evening.

Use social media to create interest in your restaurant by posting a series of articles. This promotional content could include explaining the different cuisines, giving the restaurant the look of the scene and promoting the experience of your staff.

Organizing an easy opening of the restaurant

The soft opening can prevent more businesses from being overwhelmed than your staff is prepared for. During the week or two before the big opening, your staff can solve operational problems while moving to full capacity. During this time, you can adjust the workings of your kitchen, see if your workstations need upgrading, update the menu using the principles of menu engineering, and refine workflow models to reduce congestion. Other benefits of easy opening include:

Making final decisions regarding the decor and settings of the table

Familiarizing staff servers, bartenders and kitchen staff with menu, cooking times, implementation tactics, plating techniques, and food preservation strategy

Training staff regarding customer management, sales suggestions and operating the POS system

Familiarize everyone with all the things, such as plates, silverware, spices, etc.

The easy opening is an ideal time to invite special guests, including social influencers, local celebrities, food reviewers, reporters, and restaurant stakeholders. If you are nervous, invite people you know to ask for constructive criticism.

Your grand-opening can become an advertising magnet

Conducting a formal opening brings you the restaurant or bar to the attention of local news and the media, generating publicity, igniting the curiosity and branding of your restaurant concept in the minds of potential customers. The advertising you receive exceeds the date or dates of the opening promotions - the invited guests will feel privileged to be included, and those who like the culinary profile will make visitation plans in the near future, even if the opening does not participate. Satisfied customers will return.

Great promotion ideas

Promotional Ideas for your grand opening might include special decorations, sample trays, bounce-back incentives, live entertainment and collaboration with other local retailers or city festivals. If you are in an artistic area, you can invite local artists and photographers to display their work. If there is a local festival, you can create an outdoor booth to provide some of the menu items. You could also partner with a local charity during the opening and donate some of the proceeds. You can distribute the samples in front of the restaurant to attract customers. Outdoor signs, digital signs, and banners can generate a lot of publicity.

Regardless of your promotion strategy, remember that food and services should be the most important considerations. Instagram offers a free app to add photos and videos to your website and social pages. Take lots of photos during the grand opening to be used in several promotional campaigns and encourage customers to share their photos and comments.

Marketing your big opening event

Big openings need a good marketing business, even if it's simple. You may be targeting people in the vicinity with leaflets or direct mail, but if your restaurant has the power to pull, you'll want to market it to, or even beyond, a larger audience in the city. Joining local business groups - such as the local Chamber of Commerce, Business Networking International, rotating clubs and entrepreneurial organizations - can help you build strategic relationships with potential customers through networks.

Schedule a schedule for your opening

It is important that you organize your opening so that it fits in with your concept and target audience. You can quietly open before the size opening event to draw up the operational lines that affect each restaurant. During this time, you can organize private wine and food tasting events, distribute sample menus, post the online menu, and distribute flyers to nearby outlets. Your calendar may include these launch activities before launch:

Invite your friends for a preliminary and informal tasting in the kitchen.

Research local influencers, social media platforms used by your target audience, and business groups in your area.

Build your site and connect to respected and authoritative sites.

Design your logo, choose the colors of the company and design any graphics you intend to use.

Create professional press kits with sample menus, culinary information, chef biographies and more.

Choose an opening date to get all the necessary permits, complete the construction and keep a soft opening.

Technology and personnel considerations

Building technology infrastructure for your restaurant is essential in today's competitive hospitality industry. You cannot afford to ignore the topicality of restaurant management and marketing realities. Your orders do not have to be manually written by servers and you should probably not schedule employees on a whiteboard or graph paper. The inventory should not be tracked on paper. Software applications greatly simplify daily management activities and provide insights that simplify the restaurant and prevent theft and waste.

Obtaining a POS system can simplify ordering, sending orders to the appropriate stations, making credit card payments and tracking sales. You will always have a copy of each order and a sale to compare it with the day's receipts. You will also be able to track sales by time of day, type of food and other criteria, which are valuable business information.

Try to enroll your employees in the opening success, encouraging their pride with images, biographies, and contests. Make sure you train them thoroughly, give them the tools they need to succeed and praise them well when they are doing a good job.