Two Opposite Suicides
Saturday, May 30, 2009
posted @ 10:59 AM,
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Self Appraisal
A little boy went into a drug store, reached for a soda carton and pulled it over to the telephone. He climbed onto the carton so that he could reach the buttons on the phone and proceeded to punch in seven digits (phone numbers).
The store-owner observed and listened to the conversation:
Boy: "Lady, Can you give me the job of cutting your lawn?
Woman: (at the other end of the phone line): "I already have someone to cut my lawn."
Boy: "Lady, I will cut your lawn for half the price of the person who cuts your lawn now."
Woman: I'm very satisfied with the person who is presently cutting my lawn.
Boy: (with more perseverance) : "Lady, I'll even sweep your curb and your sidewalk, so on Sunday you will have the prettiest lawn in all of Palm beach, Florida."
Woman: No, thank you.
With a smile on his face, the little boy replaced the receiver. The store-owner, who was listening to all this, walked over to the boy.
Store Owner: "Son... I like your attitude; I like that positive spirit and would like to offer you a job."
Boy: "No thanks,
Store Owner: But you were really pleading for one.
Boy: No Sir, I was just checking my performance at the job I already have. I am the one who is working for that lady I was talking to!"
This is what we call "Self Appraisal"
Hey Guys,
One more thing to say...
Self appraisals are very important these days, because you people just think, how we complain about others' skill or performance, even including me??? But, if we think about our own skills and performance... hmmmm...!!!??? So, keep urself appraising frequently, both personally and professionally, with life as well as career. Just felt like sharing few words with you guys.
The store-owner observed and listened to the conversation:
Boy: "Lady, Can you give me the job of cutting your lawn?
Woman: (at the other end of the phone line): "I already have someone to cut my lawn."
Boy: "Lady, I will cut your lawn for half the price of the person who cuts your lawn now."
Woman: I'm very satisfied with the person who is presently cutting my lawn.
Boy: (with more perseverance) : "Lady, I'll even sweep your curb and your sidewalk, so on Sunday you will have the prettiest lawn in all of Palm beach, Florida."
Woman: No, thank you.
With a smile on his face, the little boy replaced the receiver. The store-owner, who was listening to all this, walked over to the boy.
Store Owner: "Son... I like your attitude; I like that positive spirit and would like to offer you a job."
Boy: "No thanks,
Store Owner: But you were really pleading for one.
Boy: No Sir, I was just checking my performance at the job I already have. I am the one who is working for that lady I was talking to!"
This is what we call "Self Appraisal"
Hey Guys,
One more thing to say...
Self appraisals are very important these days, because you people just think, how we complain about others' skill or performance, even including me??? But, if we think about our own skills and performance... hmmmm...!!!??? So, keep urself appraising frequently, both personally and professionally, with life as well as career. Just felt like sharing few words with you guys.
Labels: Jokes
posted @ 10:02 AM,
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Difference Among CV, Biodata And Resume
Friday, May 29, 2009
People use the words RESUME, C.V., and BIO-DATA interchangeably for the document highlighting skills, education, and experience that a candidate submits when applying for a job. On the surface level, all the three mean the same. However, there are intricate differences.
RESUME
RESUME
Resume Is a French word meaning "summary", and true to the word meaning, signifies a summary of one's employment, education, and other skills, used in applying for a new position. A resume seldom exceeds one side of an A4 sheet, and at the most two sides. They do not list out all the education and qualifications, but only highlight specific skills customized to target the job profile in question. A resume is usually broken into bullets and written in the third person to appear objective and formal. A good resume starts with a brief Summary of Qualifications, followed by Areas of Strength or Industry Expertise in keywords, followed by Professional Experience in reverse chronological order. Focus is on the most recent experiences, and prior experiences summarized. The content aims at providing the reader a balance of responsibilities and accomplishments for each position. After Work experience come Professional Affiliations, Computer Skills, and Education
CV. CURRICULUM VITAE
C.V Is a Latin word meaning "course of life". Curriculum Vitae (C.V.) is therefore a regular or particular course of study pertaining to education and life. A C.V. is more detailed than a resume,
usually 2 to 3 pages, but can run even longer as per the requirement. A C.V. generally lists out every skills, jobs, degrees, and professional affiliations the applicant has acquired, usually in chronological order. A C.V. displays general talent rather than specific skills for any specific positions.
BIO-DATA
Bio Data the short form for Biographical Data, is the old-fashioned terminology for Resume or C.V. The emphasis in a bio data is on personal particulars like date of birth, religion, sex, race, nationality, residence, martial status, and the like. Next comes a chronological listing of education and experience. The things normally found in a resume, that is specific skills for the job in question comes last, and are seldom included. Bio-data also includes applications made in specified formats as required by the company.
A resume is ideally suited when applying for middle and senior level positions, where experience and specific skills rather than education is important. A C.V., on the other hand is the preferred option for fresh graduates, people looking for a career change, and those applying for academic positions. The term bio-data is mostly used in India while applying to government jobs, or when applying for research grants and other situations where one has to submit descriptive essays.
Resumes present a summary of highlights and allow the prospective employer to scan through the document visually or electronically, to see if your skills match their available positions. A good resume can do that very effectively, while a C.V. cannot. A bio-data could still perform this role, especially if the format happens to be the one recommended by the employer.
Personal information such as age, sex, religion and others, and hobbies are never mentioned in a resume. Many people include such particulars in the C.V. However, this is neither required nor considered in the US market.
Labels: Jobs
posted @ 10:57 AM,
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House Market in US
Thursday, May 28, 2009
Sales of previously owned U.S. homes rose in April, a report showed on Wednesday, providing new evidence the housing market is stabilizing and backing views that the recession is nearing an end.
The National Association of Realtors said sales climbed 2.9 percent to an annual rate of 4.68 million as the traditional spring home-buying season swung into gear. The positive picture, however, was dimmed by a separate report showing applications for home loans fell to their lowest level since early March last week as mortgage costs rose.
Worries about the government's ability to fund costly measures to rescue the economy drove longer-dated government bond yields higher on Wednesday, with the spread between the 2-year and 10-year Treasury notes widening to a record 2.75 percentage points. The rise in bond yields threatens to push up borrowing costs for consumers and businesses, and U.S. stocks sold off on concerns the economy could suffer. Major indexes ended more than 1 percent lower. Economists, however, were heartened by the home sales data and said borrowing costs had not moved up enough to imperil the housing market's chances of recovery.
"I don't think it's a threat as long as mortgage rates stay low and so far they have," said Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts.
In general, the data was seen as a fresh hint that the steep 17-month U.S. economic downturn, triggered by the collapse of the housing market, was easing and could well end by the third quarter, as a survey published by the National Association of Business Economists predicted. The pace of job losses slowed last month, claims for unemployment aid have come off their peaks, and consumer confidence has risen from recent rock-bottom levels.
"The national economy is showing some initial signs of stability," U.S. Treasury Secretary Timothy Geithner said in Boston as he announced $1.5 billion in federal tax credits for community development projects. "This is just the beginning, however. We have a long way to go."
Labels: Economy
posted @ 11:39 AM,
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Sugar Industry Is No More Sugar For Owners
Wednesday, May 27, 2009
Look at the Profit / (Loss) after Taxation for the year ended 30-09-2008 of some Sugar Industries and analyse whether they are producing sugar for their owners or loss making machines.
- Mirza Sugar Rs. 190.292 Million
- Frontier Sugar Rs. (1.956)Million
- Premier Sugar Rs. 63.345 Million
- Chashma Sugar Rs. (141.523) Million
- Thal Industries Rs. 108.746 Million
Labels: Pakistan Economy
posted @ 4:07 PM,
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Golden Rules for Career Success
There are some basic career success related rules that everyone should know but many don’t.
- Business is made up of ambiguous victories and nebulous defeats. Claim them all as victories.
- Keep track of what you do; someone is sure to ask.
- Be comfortable around senior managers, or learn to fake it.
- Never bring your boss a problem without some solution.
- You are getting paid to think, not to whine.
- Long hours don’t mean anything; results count, not effort.
- Write down ideas; they get lost, like good pens.
- Always arrive at work 30 minutes before your boss.
- Help other people network for jobs. You never know when your turn will come.
- Don’t take days off sick—unless you are.
- Assume no one can/will keep a secret.
- Know when you do your best—morning, night, under pressure, relaxed; schedule and prioritize your work accordingly.
- Treat everyone who works in the organization with respect and dignity, whether it be the cleaner or the managing director. Don’t ever be patronizing.
- Never appear stressed in front of a client, a customer or your boss. Take a deep breath and ask yourself: In the course of human events, how important is this?
- If you get the entrepreneurial urge, visit someone who has his own business. It may cure you.
- Acknowledging someone else’s contribution will repay you doubly.
- Career planning is an oxymoron. The most exciting opportunities tend to be unplanned.
- Always choose to do what you’ll remember ten years from now.
- The size of your office is not as important as the size of your pay cheque.
- Understand what finished work looks like and deliver your work only when it is finished.
- The person who spends all of his or her time is not hard-working; he or she is boring.
- Know how to write business letters—including thank-you notes as well as proposals.
- Never confuse a memo with reality. Most memos from the top are political fantasy.
- Eliminate guilt. Don’t fiddle expenses, taxes or benefits, and don’t cheat colleagues.
- Reorganizations mean that someone will lose his or her job. Get on the committee that will make the recommendations.
- Job security does not exist.
- Always have an answer to the question, “What would I do if I lost my job tomorrow?”
- Go to the company Christmas party.
- Don’t get drunk at the company Christmas party.
- Avoid working at weekends. Work longer during the week if you have to.
- The most successful people in business are interesting.
- Sometimes you’ll be on a winning streak and everything will click; take maximum advantage. When the opposite is true, hold steady and wait it out.
- Never in your life say, “It’s not my job.”
- Be loyal to your career, your interests and yourself.
- Understand the skills and abilities that set you apart.
- Use them whenever you have an opportunity.
- People remember the end of the project. As they say in boxing, “Always finish stronger than you start.”
By Richard Moran
Labels: Career Success, Jobs
posted @ 12:30 PM,
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Jobs in UMT
University of Management and Technology (UMT) is a premier educational institution of higher education having ranked by HEC in category “W” thus placing it among the few select universities in the country. The university offers post-graduate, graduate and undergraduate programs.
Following posts are available in University of Management and Technology
- Director Quality Assurance
- Director Finance / Treasurer
- Manager University Development
- Manager Accounts
- Manager Internal Audit
- Deputy Manager Training and Development
- Executive Secretary to the Rector
- Deputy Warden (Female)
To see the details and to apply click here.
Labels: Jobs
posted @ 12:05 PM,
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Bomb Blast in Lahore
Huge explosion was hear ed when I was sitting in my Office near Mall Road. People are of the view that it was near Lahore High Court. However, the details are being ascertained by the media representative.
May Allah keep all of us in safe custody and bestow blessing and forgive our sins.
Labels: Pakistan
posted @ 10:59 AM,
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Pre-Budget FY10: Structural Reforms Led Budget
The budget 2009-10 is expected to deliberate on Pakistan’s long-standing structural issues, led by IMF’s tough performance and qualitative criteria. This includes elimination of electricity subsidy, resolution of circular debt, tax administration & policy action plan (including merger of income & sales tax department, carbon tax & introduction of VAT) and lastly, formation & activation of single treasury accounts.
What has changed from last year?
Unlike the outgoing fiscal year, the GoP’s ability to finance budget deficit will be better placed, driven by commitments from Friends of Pakistan and IFIs. Resultantly, the financing mix will shift from domestic sources to external. This should take the pressure off bank borrowing.
The subsidies on fuel and electricity will be eliminated. GoP had budgeted Rs295bn worth subsidies for FY09, which is likely to decline in FY10. However, subsidy to agriculture sector is expected to continue even in FY10.
Higher Public Sector Development Program (PSDP). Recent IMF approval for counter-cyclical policies to accommodate the recent external flows commitment will stimulate the PSDP allocation for next fiscal year. In FY09, GoP has slashed its development budget massively, due to constraint financing options.
Pro-market budget on the cards
Advisor to PM on Finance Shaukat Tarin has called next budget as - pro-growth, poor and markets. We also view the next budget as positive, even in the presence of IMF’s looming tax threat. The reasons why we are positive are as follows:
- Status quo for Capital Gains Tax (CGT) and turnover taxes.
- No change likely for corporate and dividend tax.
- Some relief to cement companies likely through excise duty cut-down.
- Reduction in WHT along with abolishment of excise duty on auto sales.
- Fertilizer subsidy and higher agri-credit targets to prompt agriculture growth.
- Proposed reduction in GST and mobile activation charges for Telecom sector.
Tax on real estate, services, gross assets likely
As this budget will be supervised by IMF, we revisited IMF notes and extracted the key highlights and recommendations regarding taxes, which are as follows:
- Imposition of carbon taxes on sale of petroleum products.
- Introduction of VAT and elimination of zero-rated sales tax.
- Taxes on services sector, agriculture and real estate sector.
- To enhance the tax base, a concept of gross asset tax is also likely to be proposed.
Market outlook
We are positive on the market, however, sector wise we expect OMC’s and Cements to stage a strong recovery. The budget FY10 is likely to be a non-event for E&Ps, Power, Oil & Gas Marketing and Financial sector. However, it is likely to carry good news for Cements, Autos, and Fertilizer sector.
Our top picks are POL, OGDC, PPL, FFC, PTC, PSO and Hubco. Additionally, on the back of our interest rate outlook we also advise investors’ to keep a track on high quality leveraged plays like DGKC, Lucky & ENGRO.
Report by JS Research
Labels: Economy and Business, Pakistan Economy
posted @ 10:14 AM,
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Job in Engro Polymer
Tuesday, May 26, 2009
Engro Polymer & Chemicals Ltd. (EPCL) is a subsidiary of Engro Chemical Pakistan Ltd and has recently expanded and back integrated its operations. They have a vacancy for a following post.
- Position: ACA General Accounting
- Qualification: Fresh Chartered Accountant
- Expertise and Responsiblity: The vancancy is in the General Accounting section, responsibilities will include IFRS Compliance, assisting in prepration of financial statements, supervising segments of accounting section such as fixed assets, Accounts payable and Accounts receivable and acting as audit co-ordinator for external audits.
Please email your CVs at with "ACA General Accounting" mentioned in the subject line by May 31, 2009.
Labels: Jobs
posted @ 9:47 AM,
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Economic and Business updates - From 18th May to 24th May, 2009
Monday, May 25, 2009
- THE government borrowing surges by Rs110 billion in the fortnight from April 18 to May 2, 2009 which pushes up money supply from Rs76.1 billion on April 18 to Rs132.8 billion on May 2, 2009, an increase of Rs56.7 billion or 121 bps during the period.
- FOREIGN direct investment declines by 13 per cent during the ten months of the current fiscal year as compared to the corresponding period of last year, but the fall is mainly because of sharp reduction in inflows from the United States.
- PAKISTAN’s current account deficit narrows down by 23.5 per cent in first 10 months of the current fiscal year against severe crisis of imbalances faced by the country for the last couple of years.
- NON-performing loans of the banking system post a noticeable increase of Rs35 billion during the first quarter of the current calendar year mainly due to the high interest rate and slow economic activities.
- INTERNATIONAL bids have been invited for the construction of Bhasha dam project with incentive clause for early completion. Three Chinese companies are among the bidders.
- FEDERAL Minister for Water and Power Raja Pervez Ashraf has said that a sum of $4.5 billion is being invested in the power generation sector to add 4,000 megawatt electricity to the system to overcome power shortage by the end of the current calendar year.
- BANKS improve their lending to the agricultural sector but remain far behind the target during the first 10 months of the current fiscal year.
- FEDERAL Minister for Industry and Production Manzoor Ahmad Watto has said that 10-year tax holiday has been granted to the Gwadar Port Authority and the export processing zone established their.
- THE federal cabinet decides to bring real estate, agriculture, stock exchanges, services and agriculture sectors under the tax net step by step. Two of them will be taxed in the next fiscal year to broaden the tax base.
- THE Asian Development Bank approves $5.3 billion for 60 ongoing development projects in the country as of July 2008, which includes financing of $2.166 billion energy projects.
- THE Sindh government abandons $800 million Karachi Mega City Project, which was being funded by the Asian Development Bank, says City Nazim Mustafa Kamal.
- THE Economic Coordination Committee of the Cabinet rejects proposal to export wheat and to levy a 15 per cent regulatory duty on import of hot/cold rolled and galvanised steel products.
- PAKISTAN increases the size of farmland open to foreign investors to six million acres, but will require them to share half of the crop yield with local growers, says investment minister.
Source: Dawn Economic and Business Review dated May 25th, 2009
Labels: Economy and Business, Pakistan Economy
posted @ 4:11 PM,
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Economic Cost of War
Growing extremist violence has crippled the economy in northwest Pakistan, made tens of thousands of people unemployed and exacerbated the poverty that breeds fundamentalism, business leaders say.
North West Frontier Province (NWFP), which borders Afghanistan and Pakistan’s capital Islamabad, is rich in agriculture, minerals, stunning mountain scenery once popular with tourists and multiple local industries.
But the 21st century has brought decline owing to extremist violence in the adjacent federally administered tribal areas (Fata) and the NWFP district of Swat, where the Taliban launched an uprising two years ago.
‘Around three-quarters of our industries have closed since the war in Afghanistan started but most have closed in the last two to three years,’ Sharafat Mubarak, president of the local chamber of commerce and industry, told AFP.
Before the September 11, 2001 attacks on the United States which precipitated the invasion of Afghanistan and ensuing Taliban insurgency, 2,254 industries were functional in NWFP, of which just 594 operate today, he said.
North West Frontier Province (NWFP), which borders Afghanistan and Pakistan’s capital Islamabad, is rich in agriculture, minerals, stunning mountain scenery once popular with tourists and multiple local industries.
But the 21st century has brought decline owing to extremist violence in the adjacent federally administered tribal areas (Fata) and the NWFP district of Swat, where the Taliban launched an uprising two years ago.
‘Around three-quarters of our industries have closed since the war in Afghanistan started but most have closed in the last two to three years,’ Sharafat Mubarak, president of the local chamber of commerce and industry, told AFP.
Before the September 11, 2001 attacks on the United States which precipitated the invasion of Afghanistan and ensuing Taliban insurgency, 2,254 industries were functional in NWFP, of which just 594 operate today, he said.
Read at Dawn
Labels: Economy, Pakistan Economy, Taliban
posted @ 3:37 PM,
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Military Inc.: Inside Pakistan's Military Economy
Writing about the military in Pakistan can be risky business and the author of this book has shown tremendous courage in publishing this important work. However, the merit of this book is not because it is daring but rather because of the intellectual rigor and empirical detail provided. Unlike anti-establishment provocateurs who can often claim courage of conviction but not much else, Dr. Siddiqa has provided us with a well-substantiated account of financial hegemony in the military that deserves applause. While recognizing the vital importance of the military itself, the book unravels how essential security can be easily manipulated to accumulate wealth for a powerful elite.The author starts with a structural premise that defines the phenomenon of "milbus" as "military capital used for the personal benefit of the military fraternity, especially the officer cadre, which is not recorded as part of the defence budget." She then goes on to situate this concept within the larger literature on the military industrial complex. Her lucid prose is also augmented by clear, tables, organizational charts, graphs and Venn diagrams. Her findings are staggering: for example, the amount of land owned by military officers through subsidized schemes amounts to $4.6 billion. The military pensions being offered are five times the amount for civilian officers. The role of the Fauji Foundation and other military organizations in running commercial enterprises that range from cereal manufacturing to running schools is astounding.
The usual argument given by proponents of milbus is that the military is the most disciplined organization and can do everything more efficiently. Yet, this logic is defied by most of the world's leading economic powers where development has occurred through private enterprise by educated and responsible citizens. Perhaps the author could have spent more time in evaluating these arguments. Nevertheless, given the range and scope of the matter at hand, Dr. Siddiqa has done a marvelous job with this manuscript. One can only hope the military will not feel threatened by this constructive criticism and use the the book as a means for initiating reform. (Review By Saleem Ali)
Labels: Books, Pakistan Economy
posted @ 2:28 PM,
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Financial and Business Terms - from Bus to Buy
- Business cycle: Repetitive cycles of economic expansion and recession.
- Business failure: A business that has terminated with a loss to creditors.
- Business risk: The risk that the cash flow of an issuer will be impaired because of adverse economic conditions, making it difficult for the issuer to meet its operating expenses.
- Butterfly shift: A non-parallel shift in the yield curve involving the height of the curve.
- Buy: To purchase an asset; taking a long position.
- Buy in: To cover, offset or close out a short position. Related: evening up, liquidation.
- Buy limit order: A conditional trading order that indicates a security may be purchased only at the designated price or lower. Related: Sell limit order.
- Buy on close: To buy at the end of the trading session at a price within the closing range.
- Buy on margin: A transaction in which an investor borrows to buy additional shares, using the shares themselves as collateral.
- Buy on opening: To buy at the beginning of a trading session at a price within the opening range.
- Buy-and-hold strategy: A passive investment strategy with no active buying and selling of stocks from the time the portfolio is created until the end of the investment horizon.
- Buydowns: Mortgages in which monthly payments consist of principal and interest, with portions of these payments during the early period of the loan being provided by a third party to reduce the borrower's monthly payments.
- Buying the index: Purchasing the stocks in the S&P 500 in the same proportion as the index to achieve the same return.
- Buyout: Purchase of a controlling interest (or percent of shares) of a company's stock. A leveraged buy-out is done with borrowed money.
- Buy-back: Another term for a repo.
- Buy-side analyst: A financial analyst employed by a non-brokerage firm, typically one of the larger money management firms that purchase securities on their own accounts.
Labels: Financial and Business Terms / Dictionary
posted @ 10:54 AM,
,
Every One Loves Disney Parks - Orlando
Sunday, May 24, 2009
Orlando is one of the best cities in the world. This city is popular not only among all children but elders also love it. Here children are entered into a world full of fantasies and adults become the children. Its is a host city of the largest and most popular family destination with the most magical theme park in the world, Orlando is the city that makes dreams come true for people of all ages. The fun starts when planning your magical vacation, and at Orlando Fun Tickets our goal is to make your experience special from the beginning. Millions of people look forward to visit Orlando every year, therefore they need to make sure that how to make the right decisions when purchasing your theme park and Disney World tickets for their trip.
There are number of companies available in the market which can provide you Walt Disney World tickets. However, if you are finding a company to purchase discount Walt Disney World tickets, every one should be a legitimate company. You can get Disney Tickets from here as they are licensed and bonded Florida Seller of Travel, IATA certified and an authorized ticket provider. If you are preparing for your trip to Orlando, I give you guarantee that you would get the quality and service here.
I personally like Universal Studio that is made up of two theme parks and city walk that is a famous nighttime entertainment attraction. Two Theme parks inculde Universal studio and Island of adventure. Universal Studios allows you to come up-close and personal with some of your favorite Universal pictures rides! Ride the movies and learn how the famous films were created! Avoid the JAWS of a giant shark on a boat adventure! Fight aliens and save the day with Men in Black! Ride along with Jimmy Neutron and Shrek in their 3-D adventures, and so much more.
There are number of companies available in the market which can provide you Walt Disney World tickets. However, if you are finding a company to purchase discount Walt Disney World tickets, every one should be a legitimate company. You can get Disney Tickets from here as they are licensed and bonded Florida Seller of Travel, IATA certified and an authorized ticket provider. If you are preparing for your trip to Orlando, I give you guarantee that you would get the quality and service here.
I personally like Universal Studio that is made up of two theme parks and city walk that is a famous nighttime entertainment attraction. Two Theme parks inculde Universal studio and Island of adventure. Universal Studios allows you to come up-close and personal with some of your favorite Universal pictures rides! Ride the movies and learn how the famous films were created! Avoid the JAWS of a giant shark on a boat adventure! Fight aliens and save the day with Men in Black! Ride along with Jimmy Neutron and Shrek in their 3-D adventures, and so much more.
Visit the neatly laid out site and see what they are offering and how. Orlandofuntickets.com has the best deals to get you into all of the Disney Parks in Orlando.
Labels: Entertainment
posted @ 3:17 PM,
,
More Jobs in United Nations
There are a number of jobs available in United Nations. You can find the details and other description of the jobs opened by United Nations and find more jobs in United Nations here.
Labels: Jobs
posted @ 3:07 PM,
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Integrated Marketing Communication in Pakistan
Saturday, May 23, 2009
Labels: Marketing
posted @ 11:59 AM,
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Mera Sitara Bhujha Nahi Hey - By Dr. Safi Hasan
Friday, May 22, 2009
"Mujhey fikry rakhty safar nahi, mujhey dobney ka khatar nahi
meri kashtiaan hain yaqeen kee meri baadbaan dua key hain"
meri kashtiaan hain yaqeen kee meri baadbaan dua key hain"
Labels: Books, Safi Hasan
posted @ 5:36 PM,
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Aid For Pakistan
Defense Secretary Robert Gates last month pressed Congress to complete the war funding bill by May 25 or his department could run out of aid for Pakistan this month and potentially run out of other funds for some military operations by July.
Congress will miss that deadline because the House and Senate must still work out their differences and lawmakers are due to leave Friday for a weeklong break for the Memorial Day holiday.
"We've checked with the Pentagon and they're satisfied that if we finish this when we get back there will be adequate time to fund everything that our troops need," said Democratic Majority Leader Harry Reid.
Key differences include the provisions for the IMF. The House left out the funding entirely and House Appropriations Committee Chairman David Obey has expressed strong reservations about including it.
"I am very, very reluctant to support any additional funding for the IMF... so long as the Europeans continue to be as modest as they are in terms of their actions on the stimulus front," Obey said during a hearing.
The Senate rejected an attempt by some Republicans to strip the provisions for the IMF money and support for the gold sale. But they agree to an amendment for consultations and reports to Congress about the IMF.
The House and Senate also differed on how much economic aid to give Pakistan. They both provide $400 million to help train Pakistan's counterinsurgency forces as they try to battle militant Taliban fighters spilling over its border with Afghanistan. But the Senate offered Pakistan $500 million in economic aid while the House offered almost $600 million. The House added $3.1 billion for the Pentagon to buy eight Boeing Co
Republican Senator Kay Bailey Hutchison initially tried to push an amendment aimed at giving some 789 Chrysler dealerships that are being closed more time to unload their inventories. She dropped her effort after the bankrupt automaker pledged to help those dealers beyond a June 9 deadline it had imposed.
Senators also agreed to include a provision that would block the release of photographs of detainee abuses under the Freedom of Information Act. The American Civil Liberties Union has spent years suing the government for the release of the pictures.
Labels: Pakistan Economy
posted @ 1:00 PM,
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Mobile Communications Rating
Thursday, May 21, 2009
Mobilink faces funding risks, economic uncertainty, weak cash flow protection, intense competition. We have raised the corporate credit rating on Mobilink to 'CCC+' from 'SD' and the issue rating on its senior notes to 'CCC+' from 'D'. Developing outlook reflects the outlook on Pakistan's macroeconomic and operating environment.
Standard & Poor's Ratings Services today raised its long-term corporate credit rating on Pakistan-based wireless service provider Pakistan Mobile Communications Ltd. (Mobilink) to 'CCC+' from 'SD' (selective default). The outlook is developing. At the same time, we raised our issue rating on Mobilink's US$112.2 million senior unsecured notes due 2013 to 'CCC+' from 'D'.
This upgrade came after Standard & Poor's lowered the corporate credit rating to 'SD' on May 12, 2009, following the announcement by Mobilink of completion of the tender offer to repurchase US$137.8 million of initial notes for US$100.6 million in cash. Standard & Poor's, based on its criteria, had viewed the tender offer by Mobilink as a distressed exchange.
The rating on Mobilink reflects the company's high exposure to funding risks and economic uncertainty, weak cash flow protection measures, and highly intense domestic industry competition. These risks are partly offset by strategic benefits from its parent, Orascom Telecom Holdings S.A.E.
"In our view, Mobilink is significantly exposed to the weak macroeconomic environment, external liquidity position and security situation in Pakistan (CCC+/Developing/C)," said Standard & Poor's credit analyst Yasmin Wirjawan. "This could result in funding challenges for Mobilink, which has historically relied significantly on local financing for growth and investment in the domestic wireless market. Also, most of the company's debt comprises local borrowings." The developing outlook reflects uncertainty regarding Pakistan macroeconomic or operating environment, which could affect the company's funding access and growth opportunities in the local wireless market.
"Mobilink's financial profile is weak, in our opinion, with aggressive cash flow protection measures," Ms. Wirjawan said. Adjusted debt (excluding fair value of cross currency swaps) to EBITDA deteriorated to 4.0x as of Dec. 31, 2008, from 3.2x as of Dec. 31, 2007, led by higher debt due to aggressive capital expenditure and depreciation of the local currency.
"However, we expect the company to improve its financial metrics to remain compliant with its financial covenants, which are currently under pressure. The improvement is expected through significant reduction in capital expenditure, support from Orascom through deferral of management fee, and recent repurchase of notes," Ms. Wirjawan added. "Nevertheless, we view the company's repurchase of notes as an aggressive financial management strategy."
Pakistan's cellular market is intensely competitive, resulting in lower subscriber numbers and market share for Mobilink. Its market share is currently 31% (according to the regulator) after slipping consistently from 64% at year-end 2004. The decline is partly attributed to the change of subscriber accounting policy. Nevertheless, Mobilink continues to be the leader in Pakistan's wireless market.
We believe parent Orascom would continue to provide support to Mobilink, if required, considering: (1) the cross-default clause at the parent company in the event of a covenant breach of material subsidiaries, including Mobilink; and (2) Mobilink is the second-largest operation of Orascom and accounted for 20.6% of the consolidated EBITDA for 2008.
Labels: Economy and Business
posted @ 9:41 AM,
,
China Emerges as Auto Epicenter
Tuesday, May 19, 2009
America's auto titans are dismantling their global empires. But across the Pacific, it's as if the global economic forces that have pummeled Detroit never struck. Chinese auto sales are up, and this year China is projected to displace Japan as the world's largest car producer.
Now, the auto world is buzzing that China's auto industry may try to pick up the pieces of Detroit -- at a bargain.
Chinese companies have tried to dampen speculation, issuing regulatory filings that deny bids to buy Ford's Volvo or General Motor's Saab. But there's little doubt among analysts that Chinese automakers are interested in the United States and that Detroit's automakers are interested in them.
Buying up iconic brands such as Hummer or Saturn could supply Chinese automakers with the technological expertise to help them leapfrog past long-established competitors, said Kelly Sims Gallagher, a lecturer at Harvard University's Kennedy School of Government, who wrote a book on Chinese automakers.
"That's where Chinese firms are weakest," she said. "They have world-class business and manufacturing capabilities now. What they still lack is technological know-how, systems integration, being able to design new vehicles from scratch and get them to a manufacturing line."
China still suffers from its reputation of being a copycat manufacturer. An acquisition could lend clout to some of the nation's 100 car companies that are largely unknown outside their home country.
Such a deal would be "off-the-shelf legitimacy that you can purchase," said Aaron Bragman, an auto analyst with IHS Global Insight.
The global auto industry is restructuring. Italy's Fiat is on the verge of taking control of Chrysler. Last year India's Tata Motors, already famous for its $2,000 Nano, acquired Jaguar and Land Rover.
And China's auto sector has emerged as a threat to the long-standing pecking order. Earlier this year, Geely Automobile, one of China's largest private carmakers, purchased an Australian drivetrain transmission supplier, a leading gearbox manufacturer. Weichai Power, one of China's top diesel engine manufacturers, acquired a French diesel engine producer. Another Chinese company, BYD, which counts Warren E. Buffett as an investor, launched a mass-market plug-in electric car, ahead of GM's anticipated Chevrolet Volt.
Detroit's annual auto show in January was somber, but Shanghai's show dazzled attendees with throngs of models, rock bands and light shows. This year, Nissan skipped Detroit and attended the Chinese event in April. Mercedes-Benz, BMW and Porsche all unveiled new-vehicle models in Shanghai.
"The center of gravity is moving eastward," Dieter Zetsche, chairman of Daimler, told reporters at the show.
"When we look back 20 years from now, the year 2009 is likely to be viewed as the year in which the baton of leadership in the global auto industry passed from the United States to China," Jack Perkowski, a Western transplant and former chairman of a Beijing auto parts company, wrote in his blog "Managing the Dragon."
To get more details visit here!
Labels: Economy and Business
posted @ 6:52 PM,
,
Financial and Business Terms - from Bra to Bro
- Bracket: A term signifying the extent an underwriter's commitment in a new issue, e.g., major bracket or minor bracket.
- Brady bonds: Bonds issued by emerging countries under a debt reduction plan.
- Branch: An operation in a foreign country incorporated in the home country.
- Break: A rapid and sharp price decline.
- Break-even analysis: An analysis of the level of sales at which a project would make zero profit.
- Break-even lease payment: The lease payment at which a party to a prospective lease is indifferent between entering and not entering into the lease arrangement.
- Break-even tax rate: The tax rate at which a party to a prospective transaction is indifferent between entering into and not entering into the transaction.
- Breakout: A rise in a security's price above a resistance level (commonly its previous high price) or drop below a level of support (commonly the former lowest price.) A breakout is taken to signify a continuing move in the same direction. Can be used by technical analysts as a buy or sell indicator.
- Bridge financing: Interim financing of one sort or another used to solidify a position until more permanent financing is arranged.
- Broker: An individual who is paid a commission for executing customer orders. Either a floor broker who executes orders on the floor of the exchange, or an upstairs broker who handles retail customers and their orders.
- Brokered market: A market where an intermediary offers search services to buyers and sellers.
Labels: Financial and Business Terms / Dictionary
posted @ 10:08 AM,
,
Does Economic Recession Affect Every One?
Monday, May 18, 2009
A bird has no concern with the economic recession the whole world is confronting with. Its just because that it simply follows the rules or principles developed by the nature and these are not fabricated and developed by itself.
So if we do not want to be succumbed by the economic turmoil, we need to just follow the principles developed by the nature not made by human beings.
Labels: Economy
posted @ 11:37 PM,
,
Latest Economic Indicators
- Foreign Debt $45.00bn
- Per Cap Income $1085
- GDP Growth 5.8%
- Average CPI 12.00%
- Trade Balance $-1.04 mln
- Exports $1.31 bln
- Imports $2.35 bln
- Reserves $11.109 bln
- BRIndex-30 6,786.92
- KSE-30 Index 7,720.73
- KSE-100 Index 7,177.64
- LSE-25 Index 2,119.25
- ISE-10 Index 1,635.33
- Gold Per 10gm 23,742.00
- KCA Spot Rate 3,700.00
- Libor Rate 1.35625
Labels: Economy and Business, Pakistan Economy
posted @ 9:09 AM,
,
Job in Nestle
Saturday, May 16, 2009
- Industry: Fast Moving Consumer Goods (FMCG)
- Category: Business Development
- Job Type: Permanent
- Job Location: Lahore
- Minimum Education: Bachelor's Degree
- Career Level: Manager
- Minimum Experience: 2 Years
- Apply here By: May 18, 2009
Labels: Jobs
posted @ 1:59 PM,
,
Financial and Business Terms - from Boo to Bou
Friday, May 15, 2009
- Book cash: A firm's cash balance as reported in its financial statements. Also called ledger cash.
- Book profit: The cumulative book income plus any gain or loss on disposition of the assets on termination of the SAT.
- Book runner: The managing underwriter for a new issue. The book runner maintains the book of securities sold.
- Book value: A company's book value is its total assets minus intangible assets and liabilities, such as debt. A company's book value might be more or less than its market value.
- Book value: per share The ratio of stockholder equity to the average number of common shares. Book value per share should not be thought of as an indicator of economic worth, since it reflects accounting valuation (and not necessarily market valuation).
- Book-entry securities: The Treasury and federal agencies are moving to a book-entry system in which securities are not represented by engraved pieces of paper but are maintained in computerized records at the Fed in the names of member banks, which in turn keep records of the securities they own as well as those they are holding for customers. In the case of other securities where a book-entry has developed, engraved securities do exist somewhere in quite a few cases. These securities do not move from holder to holder but are usually kept in a central clearinghouse or by another agent.
- Bootstrapping: A process of creating a theoretical spot rate curve , using one yield projection as the basis for the yield of the next maturity.
- Borrow: To obtain or receive money on loan with the promise or understanding that it will be repaid.
- Borrower fallout: In the mortgage pipeline, the risk that prospective borrowers of loans committed to be closed will elect to withdraw from the contract.
- Bottom-up equity management style: A management style that de-emphasizes the significance of economic and market cycles, focusing instead on the analysis of individual stocks.
- Bought deal: Security issue where one or two underwriters buy the entire issue.
- Bourse: A term of French origin used to refer to stock markets.
Labels: Financial and Business Terms / Dictionary
posted @ 1:24 PM,
,
IMF Concerned About High Inflation
The International Monetary Fund (IMF) has expressed its shock and concern over no respite in the inflation in Pakistan.Inflation increased by 1.4 per cent in April, just as much in March and one per cent in February percent owing to which the target of single digit inflation which was expected in June is also not likely to be achieved by July.
“Owing to this very reason, IMF has asked Pakistani authorities not to reduce the discount rate in the next monetary policy statement secluded to be announced in July next year,” the official said.
In the Dubai meeting, the IMF officials were curious to know as to why the inflation in the rest of world is on decline, but in case of Pakistan there exists no visible respite on this account.
“On face of it, the credit supply to private sector is at the lowest ebb which is why the economic activities in the country in negative zone,” the official said.
During the February review by the Ministry of Finance, the government expected to bring down the inflation to less then 10 percent in the month of June, but now under the new scenario, the inflation will hardly ease to 13.5 percent.
In fact IMF knowing very well that wheat price is also inflationary but Fund people did not say anything to government when it increased support price of wheat by 60 percent.
The official said that the rise in inflation is basically due to food and fuel inflation as government has increased the wheat, rice prices and did not reduce the POL prices.
Because of this very factor food inflation is on the rise. The bad governance has also 90 percent contributions to the existing inflation and 10 percent responsibility lies with private sector. If the government comes up with some effective administrative measures the inflation can be brought down, the official said.
The official referred to the palm oil prices, which were reduced to $ 400 per ton from $ 1200 per ton, but the prices of edible oil and ghee tumbled in Pakistan only Rs 12 per kg while it should have reduced by Rs 42 per kg. Now the international price of palm oil has slightly increased the prices of edible oil and ghee increased by Rs 2-3 per kg.
The IMF also asked Pakistan to build in the budget for 2009-10, some of the amount from Tokyo pledges amounting to $5.28 billion and in case of any shortfall or delay from of the said amount out of pledges, then Fund will provide the loan against the said shortfall. And in case Pakistan gets the required amount from Tokyo pledges after some delay, then Pakistan will pay back the same loan to Fund with minor interest rate.
The said additional facility is to be of a kind of cushion money that will be strictly conditional to shortfall of Tokyo money.
To a question, he disclosed that Pakistan was reluctant to build in some of the amount out of pledges in budget saying the Tokyo pledges’ materialization in stipulated time is uncertain.
The IMF also advised the economic managers to use the fiscal space of about Rs160 billion to Rs180 billion, that has been created by relaxing in the fiscal deficit target by 1.2 percent to 4.6 percent from 3.4 percent, for social sector development expenditures.
This time the Fund was not in favour of any cut in development budget, rather stressed for slash in current expenditures to achieve the target of 4.6 percent budget deficit target foxed for next fiscal year.
“Owing to this very reason, IMF has asked Pakistani authorities not to reduce the discount rate in the next monetary policy statement secluded to be announced in July next year,” the official said.
In the Dubai meeting, the IMF officials were curious to know as to why the inflation in the rest of world is on decline, but in case of Pakistan there exists no visible respite on this account.
“On face of it, the credit supply to private sector is at the lowest ebb which is why the economic activities in the country in negative zone,” the official said.
During the February review by the Ministry of Finance, the government expected to bring down the inflation to less then 10 percent in the month of June, but now under the new scenario, the inflation will hardly ease to 13.5 percent.
In fact IMF knowing very well that wheat price is also inflationary but Fund people did not say anything to government when it increased support price of wheat by 60 percent.
The official said that the rise in inflation is basically due to food and fuel inflation as government has increased the wheat, rice prices and did not reduce the POL prices.
Because of this very factor food inflation is on the rise. The bad governance has also 90 percent contributions to the existing inflation and 10 percent responsibility lies with private sector. If the government comes up with some effective administrative measures the inflation can be brought down, the official said.
The official referred to the palm oil prices, which were reduced to $ 400 per ton from $ 1200 per ton, but the prices of edible oil and ghee tumbled in Pakistan only Rs 12 per kg while it should have reduced by Rs 42 per kg. Now the international price of palm oil has slightly increased the prices of edible oil and ghee increased by Rs 2-3 per kg.
The IMF also asked Pakistan to build in the budget for 2009-10, some of the amount from Tokyo pledges amounting to $5.28 billion and in case of any shortfall or delay from of the said amount out of pledges, then Fund will provide the loan against the said shortfall. And in case Pakistan gets the required amount from Tokyo pledges after some delay, then Pakistan will pay back the same loan to Fund with minor interest rate.
The said additional facility is to be of a kind of cushion money that will be strictly conditional to shortfall of Tokyo money.
To a question, he disclosed that Pakistan was reluctant to build in some of the amount out of pledges in budget saying the Tokyo pledges’ materialization in stipulated time is uncertain.
The IMF also advised the economic managers to use the fiscal space of about Rs160 billion to Rs180 billion, that has been created by relaxing in the fiscal deficit target by 1.2 percent to 4.6 percent from 3.4 percent, for social sector development expenditures.
This time the Fund was not in favour of any cut in development budget, rather stressed for slash in current expenditures to achieve the target of 4.6 percent budget deficit target foxed for next fiscal year.
Labels: Economy, Pakistan Economy
posted @ 11:06 AM,
,
Please Save Us from great Economic recession
Pakistan Sugar Mills Association requested Trading Corporation of Pakistan not to waste valuable foreign exchange on extremely expensive imported surgar because sugar from the domestic market have following benefits;
- Saving of Foreign Exchnage
- Clearing cost of 6.00% would be saved
- No possiblity of sugar wastage and theft
- Saving in storage cost
- Saving in transportion cost
- No requirment of immediate payment of 16.00% sales tax. TCP will pay sales tax at the time of lifting.
Please save loca sugarcane farmers instead of subsidizing foreign farmers.
Labels: Economy, Pakistan Economy
posted @ 9:45 AM,
,
Financial and Business Terms - from Bog to Bon
Wednesday, May 13, 2009
- Bogey: The return an investment manager is compared to for performance evaluation.
- Bond: Bonds are debt and are issued for a period of more than one year. The U.S. government, local governments, water districts, companies and many other types of institutions sell bonds. When an investor buys bonds, he or she is lending money. The seller of the bond agrees to repay the principal amount of the loan at a specified time. Interest-bearing bonds pay interest periodically.
- Bond agreement: A contract for privately placed debt.
- Bond covenant: A contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions.
- Bond equivalent yield: Bond yield calculated on an annual percentage rate method. Differs from annual effective yield.
- Bond indenture: The contract that sets forth the promises of a corporate bond issuer and the rights of investors.
- Bond indexing: Designing a portfolio so that its performance will match the performance of some bond index.
- Bond points: A conventional unit of measure for bond prices set at $10 and equivalent to 1% of the $100 face value of the bond. A price of 80 means that the bond is selling at 80% of its face, or par value.
- Bond value: With respect to convertible bonds, the value the security would have if it were not convertible apart from the conversion option.
- Bond-equivalent basis: The method used for computing the bond-equivalent yield.
- Bond-equivalent yield: The annualized yield to maturity computed by doubling the semiannual yield.
- BONDPAR: A system that monitors and evaluates the performance of a fixed-income portfolio , as well as the individual securities held in the portfolio. BONDPAR decomposes the return into those elements beyond the manager's control--such as the interest rate environment and client-imposed duration policy constraints--and those that the management process contributes to, such as interest rate management, sector/quality allocations, and individual bond selection.
- Boning: Charging a lot more for an asset than it's worth.
Labels: Financial and Business Terms / Dictionary
posted @ 4:50 PM,
,
Economic and Business Updates - May 04 to 10, 2009
The banking sector in Pakistan which so far escaped liquidity crisis is facing stagnant deposit growth for the last two months signifying the potential risk behind the scene.
The annual trade between Pakistan and china has sur passed $7 billion during 2008 and will rise to $15 billon by 2011, says Chinese ambassador lou zhaohui
The finance ministry releases Rs 120 billion for the ongoing development project under the public sector development programme during the first nine months of the 2008-9 financial year.
The cabinet approve the benazir tractor scheme to provide 20,000 tractors to farmers at discounted rates aimed at boosting the agriculture sector .
The federal board of revenue collects Rs 898.64 billion as taxes during 10 months of the current fiscal year, against Rs 763.592 billion collected during the corresponding period last year, reflecting an increase of 17.7 per cent .
The cumulative profit listed cement sector companies increase to Rs 3.7 billion in the nine months of fy09 depicting a massive growth of 833 per cent over the in corresponding period on fy 08 when it was Rs 395 million.
The Islamic development bank agrees to provide $100 million to achieve the targets of poverty reduction strategy paper set for health and microfinance sectors.
The revenue target for the current fiscal seems to be an uphill task and could pose a downside risk to the ongoing stabilization programme says ministry of finance in its review of economic situation for july march 2008-2009.
The securities and exchange commission of Pakistan introduces a transparent procedure for closed end scheme to buy back its own certificates.
Pakistan national shipping corporation needs $400 million to acquire at least 10 oil bulk and general cargo vessels.
The annual trade between Pakistan and china has sur passed $7 billion during 2008 and will rise to $15 billon by 2011, says Chinese ambassador lou zhaohui
The finance ministry releases Rs 120 billion for the ongoing development project under the public sector development programme during the first nine months of the 2008-9 financial year.
The cabinet approve the benazir tractor scheme to provide 20,000 tractors to farmers at discounted rates aimed at boosting the agriculture sector .
The federal board of revenue collects Rs 898.64 billion as taxes during 10 months of the current fiscal year, against Rs 763.592 billion collected during the corresponding period last year, reflecting an increase of 17.7 per cent .
The cumulative profit listed cement sector companies increase to Rs 3.7 billion in the nine months of fy09 depicting a massive growth of 833 per cent over the in corresponding period on fy 08 when it was Rs 395 million.
The Islamic development bank agrees to provide $100 million to achieve the targets of poverty reduction strategy paper set for health and microfinance sectors.
The revenue target for the current fiscal seems to be an uphill task and could pose a downside risk to the ongoing stabilization programme says ministry of finance in its review of economic situation for july march 2008-2009.
The securities and exchange commission of Pakistan introduces a transparent procedure for closed end scheme to buy back its own certificates.
Pakistan national shipping corporation needs $400 million to acquire at least 10 oil bulk and general cargo vessels.
Labels: Economy and Business, Pakistan Economy
posted @ 11:25 AM,
,
Lease Rental of Land
Tuesday, May 12, 2009
Query from Ateeq Ahmad:
Does a company can capitalize rental payment against lease of land before the start of commercial production? What is the date of Commercial production? Further, briefly discuss the taxation implications of the said rental payment.
Does a company can capitalize rental payment against lease of land before the start of commercial production? What is the date of Commercial production? Further, briefly discuss the taxation implications of the said rental payment.
Comment:
Accounting Aspect:
As per para 14 of IAS-17, characteristic of land is that it normally has an indefinite economic life and lessee normally does not receive substantially all of the risks and rewards incidendtal to ownership, in which case its an Operating Lease.
ICAP's technical committee recomended in its accounting TR-21 that date of commencement of commercial production is the date when the plant is ready for the production of intended products in commercially feasible quantities. The cut off date so established is without regard when the plant actually commences commercial production. Where the construction of an asset is completed in parts and each part is capable of being used while construction continues on the other parts, capitalization of costs for each part should cease as it is completed.
Therefore, all expensed paid before the commencement of commercial production would be capitalized including rental payment to the lessor.
Taxation Aspect:
Witholding tax would be deducted under section 153 of the Income tax Ordinance under execution of other contracts provided any exemption certificate is produced by the lessor.
Labels: accounting, Taxation
posted @ 4:00 PM,
,
Financial and Business Terms - from Bi to Bl
- Bid price: This is the quoted bid, or the highest price an investor is willing to pay to buy a security. Practically speaking, this is the available price at which an investor can sell shares of stock.
- Bid-asked spread: The difference between the bid and asked prices.
- Bidder: A firm or person that wants to buy a firm or security.
- Big Bang: The term applied to the liberalization in 1986 of the London Stock Exchange in which trading was automated with the use of computers.
- Big Board: A nickname for the New York Stock Exchange. Also known as The Exchange. More than 2,000 common and preferred stocks are traded. Founded in 1792, the NYSE is the oldest exchange in the United States, and the largest. It is located on Wall Street in New York City.
- Bill of exchange: General term for a document demanding payment.
- Bill of lading: A contract between the exporter and a transportation company in which the latter agrees to transport the goods under specified conditions which limit its liability. It is the exporter's receipt for the goods as well as proof that goods have been or will be received.
- Binomial option: pricing model An option pricing model in which the underlying asset can take on only two possible, discrete values in the next time period for each value that it can take on in the preceding time period.
- Black market: An illegal market.
- Black-Scholes option-pricing model: A model for pricing call options based on arbitrage arguments that uses the stock price, the exercise price, the risk-free interest rate, the time to expiration, and the standard deviation of the stock return.
- Blanket inventory lien: A secured loan that gives the lender a lien against all the borrower's inventories.
- Block house: Brokerage firms that help to find potential buyers or sellers of large block trades.
- Block trade: A large trading order, defined on the New York Stock Exchange as an order that consists of 10,000 shares of a given stock or a total market value of $200,000 or more.
- Block voting: A group of shareholders banding together to vote their shares in a single block.
- Blocked currency: A currency that is not freely convertible to other currencies due to exchange controls.
- Blow-off top: A steep and rapid increase in price followed by a steep and rapid drop. This is an indicator seen in charts and used in technical analysis of stock price and market trends.
- Blue-chip company: Large and creditworthy company.
- Blue-sky laws: State laws covering the issue and trading of securities.
Labels: Financial and Business Terms / Dictionary
posted @ 11:13 AM,
,
Job in IMF
Monday, May 11, 2009
A person having following qualification and experience is required at the IMF Resident Mission in Islamabad for a period of one year initially, with possibility of extension.
- Job Description: Economist / Senior Economist
- Qualification: Ph.D. or Master’s in economics
- Skills: Excellent command of the English language
- Experience: Extensive experience in data management and quantitative skills
- Deadline for application: May 31, 2009
- Address: IMF, Room 435, Block Q, Pak Secretariat, Islamabad, Pakistan
Labels: Jobs
posted @ 10:10 AM,
,
Financial and Business Terms - from Beg to Bet
Saturday, May 9, 2009
- Beggar-thy-neighbor: An international trade policy of competitive devaluations and increased protective barriers where one country seeks to gain at the expense of its trading partners.
- Beggar-thy-neighbor devaluation: A devaluation that is designed to cheapen a nation's currency and thereby increase its exports at other countries' expense and reduce imports. Such devaluations often lead to trade wars.
- Benchmark: The performance of a predetermined set of securities, for comparison purposes. Such sets may be based on published indexes or may be customized to suit an investment strategy.
- Benchmark error: Use of an inappropriate proxy for the true market portfolio.
- Benchmark interest rate Also called the base interest rate: It is the minimum interest rate investors will demand for investing in a non-Treasury security. It is also tied to the yield to maturity offered on a comparable-maturity Treasury security that was most recently issued ("on-the-run").
- Benchmark issues: Also called on-the-run or current coupon issues or bellwether issues. In the secondary market, it's the most recently auctioned Treasury issues for each maturity.
- Best-efforts sale: A method of securities distribution/ underwriting in which the securities firm agrees to sell as much of the offering as possible and return any unsold shares to the issuer. As opposed to a guaranteed or fixed price sale, where the underwriter agrees to sell a specific number of shares (with the securities firm holding any unsold shares in its own account if necessary).
- Best-interests-of-creditors test: The requirement that a claim holder voting against a plan of reorganization must receive at least as much as he would have if the debtor were liquidated.
- Beta (Mutual Funds): The measure of a fund's or stocks risk in relation to the market. A beta of 0.7 means the fund's total return is likely to move up or down 70% of the market change; 1.3 means total return is likely to move up or down 30% more than the market. Beta is referred to as an index of the systematic risk due to general market conditions that cannot be diversified away.
- Beta equation (Mutual Funds):
The beta of a fund is determined as follows:
[(n) (sum of (xy)) ]-[ (sum of x) (sum of y)]
[(n) (sum of (xx)) ]-[ (sum of x) (sum of x)]
where: n = # of observations (36 months)
x = rate of return for the S&P 500 Index
y = rate of return for the fund - Beta equation (Stocks) :
The beta of a stock is determined as follows: [(n) (sum of (xy)) ]-[(sum of x) (sum of y)] [(n) (sum of (xx)) ]-[(sum of x) (sum of x)] where: n = # of observations (24-60 months) x = rate of return for the S&P 500 Index y = rate of return for the stock
Labels: Financial and Business Terms / Dictionary
posted @ 1:00 PM,
,
15,000 Registration for FRM Exam 2009
GARP is proud to announce today that the Financial Risk Manager (FRM®) program continues to set records by registering 15,483 candidates including me as of the close of the Early Registration period, April 30, 2009.
The importance of risk management and independently qualified risk managers is being recognized the world over. Organizations and enterprises around the globe recognize that the skill possessed by FRM holders allows them to move into leadership positions and proactively work with top management, Boards and advisors to address the unique and unprecedented issues that are the result of the current financial crisis.
The importance of risk management and independently qualified risk managers is being recognized the world over. Organizations and enterprises around the globe recognize that the skill possessed by FRM holders allows them to move into leadership positions and proactively work with top management, Boards and advisors to address the unique and unprecedented issues that are the result of the current financial crisis.
Labels: FRM
posted @ 11:27 AM,
,
Bottled Water in Your Car is Very Dangerous
On the Ellen show, Sheryl Crow said this is what caused her breast cancer. It has been identified as the most common cause of the high levels of dioxin in breast cancer tissue.
Sheryl Crow's oncologist told her: Women should not drink bottled water that has been left in a car. The heat reacts with the chemicals in the plastic of the bottle which releases dioxin into the water. Dioxin is a toxin increasingly found in breast cancer tissue. So please be careful and do not drink bottled water that has been left in a car. Pass this on to all the women in your life.
This information is the kind we need to know that just might save us! Use a stainless steel canteen or a glass bottle instead of plastic!
This information is also being circulated at Walter Reed Army Medical Center.....
- No plastic containers in microwave.
- No water bottles in freezer
- No plastic wrap in microwave.
A dioxin chemical causes cancer, especially breast cancer. Dioxins are highly poisonous to the cells of our bodies. Don't freeze your plastic bottles with water in them as this releases dioxins from the plastic. Recently, Edward Fujimoto, Wellness Program Manager at Castle Hospital, was on a TV program to explain this health hazard. He talked about dioxins and how bad they are for us. He said that we should not be heating our food in the microwave using plastic containers.
This especially applies to foods that contain fat. He said that the combination of fat, high heat and plastic releases dioxin into the food and ultimately into the cells of the body.
Instead, he recommends using glass, such as Corning Ware, Pyrex or ceramic containers for heating food. You get the same results, only without the dioxin. So such things as TV dinners, instant ramen and soups, etc., should be removed from the container and heated in something else. Paper isn't bad but you don't know what is in the paper. It's just safer to use tempered glass, Corning Ware, etc. He reminded us that a while ago some of the fast food restaurants moved away from the foam containers to paper. The dioxin problem is one of the reasons.
Also, he pointed out that plastic wrap, such as Saran wrap, is just as dangerous when placed over foods to be cooked in the microwave. As the food is nuked, the high heat causes poisonous toxins to actually melt out of the plastic wrap and drip into the food.
Cover food with a paper towel instead.
Cancer Update from Johns-Hopkins
Labels: Health
posted @ 10:37 AM,
,
US Banks Need More Capital
A “Stress Tests” have been conducted by the US Federal Reserve. According to that following ten major banks are in need of new capital to boost reserves against losses.
- Bank of America -- 33.90 US$ billions
- Wells Fargo –----- 13.70 US$ billions
- GMAC –---------- 11.50 US$ billions
- Citigroup –-------- 5.50 US$ billions
- Regions Financial – 2.50 US$ billions
- Sun Trust –------- 2.200 US$ billions
- Key Corp –-------- 1.80 US$ billions
- Morgan Stanly –--- 1.80 US$ billions
- Fifth Third –------ 1.10 US$ billions
- PNC –------------- 0.60 US$ billions
Labels: Economy and Business
posted @ 9:27 AM,
,
Financial and Business Terms - from Bas to Bef
Friday, May 8, 2009
- Base probability of loss: The probability of not achieving a portfolio expected return.
- Basic balance: In a balance of payments, the basic balance is the net balance of the combination of the current account and the capital account.
- Basic business strategies: Key strategies a firm intends to pursue in carrying out its business plan.
- Basic IRR rule: Accept the project if IRR is greater than the discount rate; reject the project is lower than the discount rate.
- Basis: Regarding a futures contract, the difference between the cash price and the futures price observed in the market. Also, it is the price an investor pays for a security plus any out-of-pocket expenses. It is used to determine capital gains or losses for tax purposes when the stock is sold.
- Basis point: In the bond market, the smallest measure used for quoting yields is a basis point. Each percentage point of yield in bonds equals 100 basis points. Basis points also are used for interest rates. An interest rate of 5% is 50 basis points greater than an interest rate of 4.5%.
- Basis price: Price expressed in terms of yield to maturity or annual rate of return.
- Basis risk: The uncertainty about the basis at the time a hedge may be lifted. Hedging substitutes basis risk for price risk.
- Basket options: Packages that involve the exchange of more than two currencies against a base currency at expiration. The basket option buyer purchases the right, but not the obligation, to receive designated currencies in exchange for a base currency, either at the prevailing spot market rate or at a prearranged rate of exchange. A basket option is generally used by multinational corporations with multicurrency cash flows since it is generally cheaper to buy an option on a basket of currencies than to buy individual options on each of the currencies that make up the basket.
- Bear: An investor who believes a stock or the overall market will decline. A bear market is a prolonged period of falling stock prices, usually by 20% or more.
- Bearer bond: bonds that are not registered on the books of the issuer. Such bonds are held in physical form by the owner, who receives interest payments by physically detaching coupons from the bond certificate and delivering them to the paying agent.
- Bear market: Any market in which prices are in a declining trend.
- Bear raid: A situation in which large traders sell positions with the intention of driving prices down.
- Before-tax profit margin: The ratio of net income before taxes to net sales.
Labels: Financial and Business Terms / Dictionary
posted @ 12:07 PM,
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Witholding Tax Returns of Salary Income
Comment:
Under the provisions of Income Tax Ordinance, 2001, there are two statements are required to be filed.
- Monthly:
- Annually:
Monthly Statement:
As per rule 44 (2) of the Income Tax Ordinance, 2001 statement of all witholding taxes deducted under section 148 to 156 B, 231A to 236 (including salary) is required to be filed within 20 days from the end of the month. Form used for the said purpose is available in Part X of IT Rules - Second Schedule.
Annual Statement:
As per rule 44 (1) of the Income Tax Ordinance, 2001 statement of witholding taxes under section 149 - salary is required to be filed within 2 months from the end of the year. Form used for the said purpose is available in Part VIII of IT Rules - Second Schedule.
Labels: advance income tax
posted @ 10:27 AM,
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Pre Budget Seminar
The ICAP CPD Committee, Lahore is organizing the seminar on titled subject on Tuesday, May 12, 2009 at ICAP Auditorium, ICAP House, Lahore as per following schedule;
- Date / Day : Tuesday – May 12, 2009
- Venue: ICAP House, West Wood Colony, Thokar Niaz Baig Lahore
- Registration : 4:15 pm to 4:30 pm
- Presentations: 4:30 pm to 8:30 pm (Followed by Dinner)
- Speakers:
Mr. Zeeshan Ijaz, FCA (Direct Taxes) Partner, KPMG Taseer Hadi & Co, Lahore
Mr. Imran Afzal, FCA (Indirect Taxes) Former President ICAP and LTBA
Mr. Syed Muhammad Shabbar Zaidi, FCA (Economic Reforms) Former President ICAP and SAFA - CPD Credit: 4 Hours
- Fee:
Members (ICAP) Rs. 800
Non Members Rs. 1,000 - Registration
Mr. Arshad Mahmood cell # 0302-7292914
ICAP Lahore Tel: 042-7515911-2 -042-7515710; Fax No. 042-7515913
Labels: ICAP
posted @ 10:02 AM,
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Financial and Business Terms - from Ban to Bar
Thursday, May 7, 2009
- Bank collection float: The time that elapses between when a check is deposited into a bank account and when the funds are available to the depositor, during which period the bank is collecting payment from the payer's bank.
- Bank discount basis: A convention used for quoting bids and offers for treasury bills in terms of annualized yield , based on a 360-day year.
- Bank draft: A draft addressed to a bank.
- Bank line: Line of credit granted by a bank to a customer.
- Bank wire: A computer message system linking major banks. It is used not for effecting payments, but as a mechanism to advise the receiving bank of some action that has occurred, e.g. the payment by a customer of funds into that bank's account.
- Banker's acceptance: A short-term credit investment created by a non-financial firm and guaranteed by a bank as to payment. Acceptances are traded at discounts from face value in the secondary market. These instruments have been a popular investment for money market funds. They are commonly used in international transactions.
- Bank for International Settlements (BIS): An international bank headquartered in Basel, Switzerland, which serves as a forum for monetary cooperation among several European central banks, the Bank of Japan, and the Bankruptcy State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from the stockholders to the bondholders.
- Bankruptcy cost view: The argument that expected indirect and direct bankruptcy costs offset the other benefits from leverage so that the optimal amount of leverage is less than 100% debt finaning.
- Bankruptcy risk: The risk that a firm will be unable to meet its debt obligations. Also referred to as default or insolvency risk.
- Bankruptcy view: The argument that expected bankruptcy costs preclude firms from being financed entirely with debt.
- Bar: Slang for one million dollars.
- Barbell strategy: A strategy in which the maturities of the securities included in the portfolio are concentrated at two extremes.
- Bargain-purchase-price option: Gives the lessee the option to purchase the asset at a price below fair market value when the lease expires.
- BARRA's performance analysis (PERFAN): A method developed by BARRA, a consulting firm in Berkeley, Calif. It is commonly used by institutional investors applying performance attribution analysis to evaluate their money managers' performances.
- Barrier options: Contracts with trigger points that, when crossed, automatically generate buying or selling of other options. These are very exotic options.
Labels: Financial and Business Terms / Dictionary
posted @ 1:49 PM,
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The Pre-Budget Seminar
The ICAP CPD Committee Islamabad / Rawalpindi in collaboration with Rawalpindi Islamabad Tax Bar Association (RITBA), has arranged the titled seminar on May 13, 2009, as per the following schedule:
- Topic : The Pre-Budget Seminar
- Day/Date : Wednesday May 13, 2009
- Registration : 3:30 p.m. to 4:00 p.m.
- Duration : 4:00 p.m. to 8:00 p.m.
- Venue : The Auditorium, Islamabad Club
- Speakers : Mr. Imran Afzal (Direct Taxes) Past President, ICAP
Mr. Shabbar Zaidi (Indirect Taxes) Past President, SAFA
Past President, ICAP
Mr. Hafiz Idrees (General Tax Matters) Past President RITBA - Chief Guest : Mr. Irfan Nadeem, Member (Inland Revenue) Federal Board of Revenue.
- Registration : Mr. Yousaf Rauf ICAP Islamabad.
Phone: 111000422, 2107819 fax # 9266052
Labels: ICAP
posted @ 11:56 AM,
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Financial and Business Terms - from Bac to Bal
Wednesday, May 6, 2009
- Back fee: The fee paid on the extension date if the buyer wishes to continue the option.
- Back office: Brokerage house clerical operations that support, but do not include, the trading of stocks and other securities. Includes all written confirmation and settlement of trades, record keeping and regulatory compliance.
- Back-end loan fund: A mutual fund that charges investors a fee to sell (redeem) shares, often ranging from 4% to 6%. Some back-end load funds impose a full commission if the shares are redeemed within a designated time, such as one year. The commission decreases the longer the investor holds the shares. The formal name for the back-end load is the contingent deferred sales charge, or CDSC.
- Back-to-back financing: An intercompany loan channeled through a bank.
- Back-to-back loan: A loan in which two companies in separate countries borrow each other's currency for a specific time period and repay the other's currency at an agreed upon maturity.
- Back-up: (1) When bond yields and prices fall, the market is said to back-up. (2) When an investor swaps out of one security into another of shorter current maturity he is said to back up.
- Backwardation: A market condition in which futures prices are lower in the distant delivery months than in the nearest delivery month. This situation may occur in when the costs of storing the product until eventual delivery are effectively subtracted from the price today. The opposite of contango.
- Baker Plan: A plan by U.S. Treasury Secretary James Baker under which 15 principal middle-income debtor countries (the Baker 15) would undertake growth-oriented structural reforms, to be supported by increased financing from the World Bank and continued lending from commercial banks.
- Balance of payments: A statistical compilation formulated by a sovereign nation of all economic transactions between residents of that nation and residents of all other nations during a stipulated period of time, usually a calendar year.
- Balance of trade: Net flow of goods (exports minus imports) between countries.
- Balance sheet: Also called the statement of financial condition, it is a summary of the assets, liabilities, and owners' equity.
- Balance sheet identity: Total Assets = Total Liabilities + Total Stockholders' Equity
- Balanced fund: An investment company that invests in stocks and bonds. The same as a balanced mutual fund.
- Balanced mutual fund: This is a fund that buys common stock, preferred stock and bonds. The same as a balanced fund.
- Balloon maturity: Any large principal payment due at maturity for a bond or loan with or without a a sinking fund requirement.
Labels: Financial and Business Terms / Dictionary
posted @ 4:37 PM,
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Parri Passu Charge
Query from Shoaib Ashar:
What is meant by Parri Passu Charge?
Comment:
Parri Passu is derived from Latin for 'with equal progress'. The phrase is used to indicate simultaneous and equal change or to describe similar ranking of securities or lenders; for example, when a new issue of shares is made, they could be said to rank pari passu, ie, equally with existing shares for the purposes of dividend payments. A common agreement between joint lenders is a pari passu clause under which, in the event of a shortfall, they agree to share equally whatever is available.
The use of "Pari Passu" when creating a charge means that when company Y goes into dissolution, the assets over which the charge has been created will be distributed in proportion to the creditors' respective holdings. Therefore, if the Bank X has tendered a loan facility of 60 million PKR while another creditor, say Z, has tendered 40 million PKR, the recovery after selling assets of Company Y to which joint pari passu charge attached, shall be ditributed in the ratio of 6:4 amongst X and Z. Where preferential rights attach to assets of the company, the preferential creditors rank higher in the distribution stakes i.e. they are paid in priority to other creditors of the company
The use of "Pari Passu" when creating a charge means that when company Y goes into dissolution, the assets over which the charge has been created will be distributed in proportion to the creditors' respective holdings. Therefore, if the Bank X has tendered a loan facility of 60 million PKR while another creditor, say Z, has tendered 40 million PKR, the recovery after selling assets of Company Y to which joint pari passu charge attached, shall be ditributed in the ratio of 6:4 amongst X and Z. Where preferential rights attach to assets of the company, the preferential creditors rank higher in the distribution stakes i.e. they are paid in priority to other creditors of the company
posted @ 12:21 PM,
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Financial and Business terms - From Av to Aw
Tuesday, May 5, 2009
- Availability float: Cheques deposited by a company that have not yet been cleared.
- Average: An arithmetic mean of selected stocks intended to represent the behavior of the market or some component of it. One good example is the widely quoted Dow Jones Industrial Average, which adds the current prices of the 30 DJIA's stocks, and divides the results by a predetermined number, the divisor.
- Average accounting return: The average project earnings after taxes and depreciation divided by the average book value of the investment during its life.
- Average age of accounts receivable The weighted-average age of all of the firm's outstanding invoices.
- Average collection period, or days' receivables: The ratio of accounts receivables to sales, or the total amount of credit extended per dollar of daily sales (average AR/sales * 365).
- Average cost of capital: A firm's required payout to the bondholders and to the stockholders expressed as a percentage of capital contributed to the firm. Average cost of capital is computed by dividing the total required cost of capital by the total amount of contributed capital.
- Average life Also referred to as the weighted-average life (WAL): The average number of years that each dollar of unpaid principal due on the mortgage remains outstanding. Average life is computed as the weighted average time to the receipt of all future cash flows, using as the weights the dollar amounts of the principal paydowns.
- Average maturity: The average time to maturity of securities held by a mutual fund. Changes in interest rates have greater impact on funds with longer average life.
- Average (across-day) measures: An estimation of price that uses the average or representative price of a large number of trades.
- Average rate of return (ARR): The ratio of the average cash inflow to the amount invested.
- Average tax rate: Taxes as a fraction of income; total taxes divided by total taxable income.
- Away: A trade, quote, or market that does not originate with the dealer in question, e.g., "the bid is 98-10 away from me."
Labels: Financial and Business Terms / Dictionary
posted @ 9:00 PM,
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Economic Indicators
Pakistan economic indicators as on May 04, 2009 are as follows
- Floating Interbank Rate (Rs/$) 80.50/80.58
- Total liquid frx reserves $11.150 bln
- Forex held by central bank $ 7.831 bln
- Forex held by other banks $ 3.319 bln
- Trade Balance Mar $-1.04 mln
- Exports Mar $ 1.31 bln
- Imports Mar $ 2.35 bln
- Population (millions) 160.9
- Per capita income $1085
- External debt (billion dlr) 45.0 $
- Domestic debt (billion rupees) 3,020
- Gross domestic product growth 5.8 pct
- Average consumer price inflation 12 pct
- Fiscal deficit (pct of GDP) 7.0 pct
- Trade balance (FBS July-June) $-20.74 bln
- Exports $19.22 bln $16.98 bln
- Imports $39.96 bln $30.54 bln
- Current a/c balance $-14.016 bln
Labels: Economy and Business, Pakistan Economy
posted @ 10:12 AM,
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Economic and Business Updates - April 27 to May 03, 2009
- More than $350 million allocated by the US for development in Pakistan are lying un utilised owing to the capacity constraints of the USAID and line ministers and departments.
- The country's service sector registers trade deficit of some $ 3 billion in the first nine months of the current fiscal year mainly due to high payments of transportation, travel and financial services.
- The country's wheat import bill has surged by 810 % to $734 million during the current fiscal year due to poor policies, hoarding and smuggling to Afghanistan.
- Against the target of Rs. 56.057 billion for provincial tax receipts, the Punjab government manages to collect around 40 % of it till the end of third quarter of the current fiscal year.
- Pakistan steel posts a loss of Rs13 billion during the last nine months. The loss, is due to economic global recession and ineffective policies.
- Asian Development Bank and the Islamic Development Bank agree to finance the Diamer-Bhasha dam project, and the planning commission has asked the economic affairs division to formally request them for the assistance.
- Emirates investment group is acquiring farmland in Pakistan to export more food to the Gulf region and is seeking international partner.
- The country's import power generation machinery worth $1.2 billion during the current year, depicting a surge of 63% over last year.
Labels: Economy and Business, Pakistan Economy
posted @ 12:14 AM,
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Commercial Banks can make Investment in Commercial Papers
Monday, May 4, 2009
SBP vide cirular BPD # 28 - 2003 allowed the banks/DFIs to invest in only those CPs:
- Which have been issued in pursuance of SECP’s guidelines for the issue of Commercial Paper and meet all the requirements laid down by State Bank of Pakistan.
- Where the equity of the issuer is not less than Rs. 100 million.
- Where the current and debt-equity ratios of the issuer do not fall below 1:1 and 60:40. For this purpose, the numbers of the last audited accounts of the issuer will be applicable.
- Where the issuer does not have any overdue or default as evidenced by a report received from Credit Information Bureau of State Bank of Pakistan. The CIB report obtained by the bank/DFI for this purpose should not be more than two months old.
- Where the current credit rating of the issuer, rated by a credit rating agency approved by State Bank of Pakistan, should not be below “A-“ (long term) and “A2” (short term).
- Where the IPA is either a scheduled commercial bank, DFI or an investment bank with a minimum credit rating of A- (long term) and A2 (short term) from a credit rating agency approved by State Bank of Pakistan.
- Where the total borrowings of the issuer by way of CPs do not exceed its equity (paid up capital and reserves).
- The banks/DFIs investing in CP shall ensure that their total exposure, including investment in commercial papers, at all time remains within the per party exposure limit prescribed under Prudential Regulations.
- The bank/DFI’s investment in CPs of an issuer shall not exceed 10% of the equity (paid-up capital and reserves) of the bank/DFI.
- The bank/DFI’s investment in a single issue of CP shall not exceed 25% of the size of the issue. In case a bank/DFI intends to take up the whole issue or invest more than the limit of 25%, at the time of issue of CP, for subsequent sell down in the market, it shall be required to dispose off the CPs in excess of above limit in the following manner:
a) Within 20 days where tenure of CP is 90 days or more
b) Within 15 days where tenure of CP is 60 days or more but less than 90 days
c) Within 10 days if tenure of CP is less than 60 days. - The total investment of the bank/DFI in CPs shall not exceed twice the equity of the bank/DFI. The banks/DFIs shall ensure compliance with all the limits prescribed herewith and Prudential Regulations.
- The banks/DFIs wishing to invest in CP’s shall obtain one time prior approval from State Bank for commencing / undertaking this activity.
posted @ 10:58 AM,
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Finance Job in Eden Builders
Sunday, May 3, 2009
Eden Builders Limited (Lahore) requires a young energetic person for the post of Manager Finance. Other Particulars of the job are as under:
- Education: ACMA/ FCA/ / MBA (Fin) with ACCA
- Experience: 8 Years (Experience in a multinational environment and that you are career focused, having progressed quickly. You need to demonstrate a stable career history.)
- Apply By: May 15, 2009
- Apply here
Labels: Jobs
posted @ 4:59 PM,
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