During the last two weeks, Deutsche Bank (DB) the largest German Bank (identical to our State Bank of India) making headlines in financial press because of the downward slide of its share value to the record low. A fall by 65 % in share price that has not only erased more than half of its market value but is likely to lead to a closure of 25% of its branches and loss of job for over 2,000 staff. Financial circles are afraid that DB once a triple-A-rated bank is likely to be the next Lehman Brothers which caused the famous US financial crisis.
The bulls and bears face a continuous tug-of-war as the markets yaw from one side to another. Now-a-days the markets are stable with the continuous instability triggered, sometimes, by the Hurricanes and at times by the increase in inventory levels. The world is also looking forward to 26 September when the top producers of the world meet on the side lines of International Energy Forum in Algiers to decide the future of oil. If from one side the outlook for price seem very strong the fickleness of oil markets do not let one cherish this thought for long.
Saying that coffee is ubiquitous in the West is a colossal understatement. The consumption of coffee is about one third the level of tap water in North America and Europe. Over half of all Americans over the age of eighteen consume coffee on a daily basis. In order to meet demand, the United States imports around $4 billion worth of coffee each year. However, as coffee consumption continues to increase, climate change is making it difficult to keep pace with demand.
On September 02, a two judge bench of the Supreme Court delivered a much awaited judgment on the Singur land acquisition case. Calling the then Left led state government's acquisition of 900 acres of land for Tata's Nano plant a "colorable exercise of power and a fraud on the people", the judges have ordered that all the land be returned to the owners within 12 weeks.
True globalization and free trade economy have been the top agenda of world economies for quite some time, but, however, practically achieving very little. Both globalization and global trade are being effectively mismanaged and thereby controlled by USA and Europe and to some extend by Russia and China to their advantages. Rest of the world has to bear the negative consequences of restricted globalization and refusal to enact global free trade.
Lack of credit support and investment guarantees from the Russian government and financial institutions have been cited as the major impediments for Russian companies willing to invest in the African continent. These setbacks have culminated in the world’s biggest country by size lagging behind such economic powerhouses as the United States and China in expanding a footprint in Africa.
Recognizing the widening gap and huge untapped potential in their economic cooperation, Russia and Africa are gearing up efforts in raising the level of trade and business, Lyubov Demidova, Deputy Chairperson of the Regional Chamber of Commerce and Industry at Moscow Region, explained in an interview with me, while emphasizing unreservedly the importance of increasing business and economic cooperation with the African countries.