How Russia Oil Market Affects their Economy  

OPEC and allies' production cuts have prompted analysts to raise their forecast for oil prices at $56 per barrel in 2018.

Russia has become a huge contributor to the availability of oil in the world, reaching the number 12% by the statistic, including oil production and export. It made Russia be the second largest oil contributors in the world. They gave 70% of the Oil Production in the form of crude oil to the global world, and only 30% used on their own. They transfer the crude oil through the Transneft pipeline. This pipeline owned by Russia and monopole by them. They also export more than 80% of their natural gas, timber, and metals. On 2007, Russia has 8.1% Gross Domestic Product and made it be a number seven on economic expansion. This country economic had grown rapidly from the years of 2000 until 2007. And this growth really depending on oil and natural gas export. The high world oil prices made it even better. On 2004, this economic boom was being controlled by the government through the stabilization fund. On 2007, this fund reaches $158 billion, which means 12% of country GDP.

In winter 2008, the oil world price has decreased from over $60 per barrel to $40 per barrel and made a significant decreased to their GDP, made the government realized that the country had not had to depend on oil export only. This up and down of oil world price made Russia's economic sector became vulnerable, more than the other country. The ascension of $1 of oil world price, Russia will earn $1,7 billion a year. Though so, the long slumps of oil world price will mess the count on what Russia was expecting. There were two most intensive periods when Russia's economic was changed. It has happened in 2008 when the world price of oil grew to 8%, but then have a contraction until 6.5% in 2009. This extreme period has made the economics of Russia became unstable.
The decreasing of oil world price considered to have a possibility to impact the devaluation of Russian currency, Ruble. There was a big hole in the economic calculation of the budget. They have to trim their expenditure in 2009 to survive their economic condition.
Russia did the biggest oil export to U.S and Europe, but then both of these countries have a recession, and government makes a policy to reduce consumption of oil. This policy has made Russia oil demand to decrease. Then the Russia government steer the wheel to Asia-Pacific oil market, which has a rapid and significant needs of oil. Large economic growth country like China, South Korea, and Japan have made Russian oil quality price higher among them.
Russia expected the ascension of oil world price, so they will soon make a recovery as the global economic recovered. Also, Russia might slip off from the global financial crisis as the ascension of the oil price. On 2010, the expert has predicted the price of oil will be about $70 until $75 per barrel, which means they will have an additional budget from about $19,5 billion to $26 billion.
Organizations for the modern future  

The future will always be unknown and change is constant throughout our lives. Technology advancement has allowed us to fulfill our ambitions and pace of new discoveries are speeding up as time goes by. Asia is a developing region where new industry entrants are disrupting the old industry landscape while the established players are constantly adapting modern methods. Asia is home to 50% of the population and many companies' expansion plans are fixed on the Asian region.

Wealth creation within Asia is rising at a quick pace. World Wealth 2017 Report stated:
  • The big three markets – Asia-Pacific, North America, and Europe – contributed equally to a global increase in HNWI growth in 2016, pushing HNWI population upward by 7.5% and wealth by 8.2%. While Asia-Pacific remains the world's largest-HNWI market, its growth slowed slightly, putting it on par with growth rates in North America and Europe, both of which substantially boosted HNWI expansion in 2016 following slower growth a year earlier.
  • A handful of markets (including Russia, Brazil, and Canada) dramatically reversed course from declines suffered a year ago. Russia grew both population and wealth at about 20%, the fastest of all the markets, following modest decreases a year before, while Brazil rebounded from a sharp setback a year ago to register double-digit increases in both population and wealth.
  • The market rankings for HNWI population shifted considerably, with France surpassing the U.K. to take the number-five spot and Sweden moving up two places to penetrate the top 25 for the first time. Other markets to climb up (by one place) included Russia, Norway, and Austria.

Ultra-HNWIs6 reassumed their traditional role of acting as drivers of overall HNWI growth, climbing by 9.2% in terms of wealth and 8.3% in population. The increase boosted growth in markets with a high proportion of ultra-HNWI wealth, such as Brazil, where ultra-HNWIs account for 87.1% of overall HNWI wealth.

The 2016 World Wealth Report projection that HNWI wealth would surpass US$100 trillion by 2025 still holds, with global HNWI wealth needing to expand at a relatively lower annual rate of 5.9% in order to hit this mark, down from the 6.1% projected last year. To support the momentum, however, Asia-Pacific must return to setting a faster pace than the global average.
The business landscape is ever evolving. One of the main changes is in consumer purchasing habits. Consumers empowered by technology and tools have increasingly higher expectations. There is a rise in aging consumers in Japan and surge in young educated population in India. The diverse consumer groups calls for tailored solutions by businesses. Another main change is that there are always new technology inventions coming up that serve as industry disruptors. Established institutions are always on the guard of new market players. Risks such as cyber-attacks targeting financial institutions are more widespread. There are also opportunities as well such as the rise in fintech on the Asian scene. About 20 active fintech accelerators all around Asia have set up base in Singapore and Hong Kong hoping to attract talent and start up to power new future industries. Fintech investments in Asia alone had grown 4 times in 2015. For instance, ASX implemented blockchain, a new technology in the database segment.
Third changing force is the use of big data as well as insights. Data is ever expanding globally and organizations need to be able to extract valuable information for monetization. They need to invest infrastructure for analyzing consumer data and patterns. One form of innovative technology is the Thomson Reuters Intel Tagging tool. Progress can be made in quantum computing. Organizations that adopt these tools are bound to have a competitive advantage over their rivals. There is significant rise in volatility as well as uncertainty. Stocks, commodities and forex markets have experienced large swings. Corporations have to factor in market movement and attempt to comprehend market dynamics and use it to their advantage. One key event is the Swiss Bank's actions of uplifting peg for its currency. Negative interest rate policies are another key event which highlights the uncertainties. This has far reaching impact in terms of cost of funding for project investment decisions. Cutting edge tools need to be invested in order to beef up the speed of forex deals. Thomson Reuters proprietary FX can help corporations achieve efficiency and best deal executions.
Another main force is China's internationalization. China is becoming a heavyweight in powering global growth. Progress is being made to engage with the world and one such example can be seen from Shanghai and Hong Kong Stock Market Connect program launched in 2014. China is stepping up its market reformation policies. RMB trading will gain higher prominence in years to come as acknowledged by IMF. RMB was recently included as a fifth reserve currency on the SDR. Regulations are also changing with times and will affect corporations with a global presence. Transparency is key to smooth business conduct and compliance is increasingly important for financial institutions. Corporations with quick and accurate access to regulatory pronouncements can assess the impact early and make changes to their business conducts.
Risk management is an important aspect when running a large organization. Top leaders are always navigating various risks in the market, operational and internal front. Having good customer data tracking system is a good solution to managing risks. Know Your Customers or KYC is an important acronym in the banking sector where stringent procedures are needed to manage client relationship and regulatory compliance. Asia is becoming a global trade hub which will account for more than 40% of worldwide trade volume by year 2030. One Belt and One Road ambitious project aims to solidify Asia's position as a trade hub by investing heavily on infrastructure. Corporations have to manage their supply chain effectively using technology in order to minimize supply disruptions.
Asia is home to many rising wealthy individuals. Opportunities are abound on private wealth management sector and corporations financial institutions must stand ready to capture market share on the money management sector. Ethics must be maintained throughout all business dealings as economies developed with greater respect for law and regulations. Corporations must continuously refine their code of conducts and best practices in order to preserve the trust and connection with their customers.

 

Practical Insights to navigate the world  

Michael Zink, former head of Citibank's Southeast Asia region, had provided key career lessons that are timeless and practical for one who is looking to work around the world gaining international exposures. He will be concluding his 27 year journey around 10 countries and will head back to the US and settle down for a comfortable retirement.

The first advice he shared was to always have faith in your team and eventually you can reap the rewards. Michael was heading a start-up top management team in 1994 in order to fortify Citi's banking roots in Russia. A bold decision was made to employ young graduates in their young 20s without any banking experience. The graduates are all very smart and talented with big dreams. It was tough bringing up the young team but the experienced bankers managed to pull through which cemented the leadership succession status and drove Citi's business growth in the Russian region. The once raw talent rose become country leaders in Kazakhstan as well as Vietnam.
The second advice was to put in place leaders who can resonate well with clientele demographics and have high employee engagement. This is to call for a diverse set of team leaders who can reach out to different segment of the client base and employee profiles. This will bring out the best in employees and earning trust to serve society in the best possible manner. The Singaporean branch is a testament to the ideals that Citi worked hard to achieve. The top investment banking head, private banking head, commercial banking head and operations head consists of female Singaporeans. Singaporeans dominate the local leadership teams. Diversity is truly a necessity to create organizational value.
The third advice is to sharpen your skills and contribute more to rise up the ranks. Many people have this misconception that only millennials wants to contribute to meaningful work and have high learning exposures. This is not true as young graduates from the 1950s have the same notion and aspirations to work hard and be successful. Michael was tasked to handle operations in Port Gentil, a small town in West Africa. The young Michael was clueless on running a branch and did not get things going and voiced his concern to the country head for Africa. The advice he had was to be productive and useful to the organization. It hit him right in the head and proceeded to manage the branch with ease which propelled his career progression. It was intense but it boils down to perseverance and willingness to learn and fall and re-learn.
The final advice that he could offer is to seek out mentors and follow the paths of good role models. Michael was a very ambitious young lad and after about 10 years working for Citi and having 4 children, he started having difficulty balancing career aspirations and family commitments. He seek out a senior officer in Citi and managed to find out about 2 role models which had given him invaluable advice and actual evidence of having a good career while staying happily married. Always distinguish between mentors who will guide you in your career and do not hesitate to seek out role models who will guide you in your life. Be sure to show your gratitude by passing on the wisdom to the next generation after benefitting from you role model and mentor's time and generosity.
The world is huge and there are never ending stories to be heard and witnessed. Be bold to cross out of your comfort zone and stepping into a foreign country. Michael Zink is ever ready to contribute his humble opinion should anyone call upon him.

 

Economic Growth In Developing Nation, Philippines  

An International Organization of 189 countries, the IMF (International Monetary Fund), which facilitates the international trade and always strives for the sustained economic growth, shows 2017 projected 6.6% GDP growth with Inflation rate at 3.1%.

The Philippines country Population: 106.268 million has a status in the world economy in outsourcing business process. As it is endowed with the natural reserves like nickel, oil, coal and with a strong industrial background, the country is firmly growing mainly because of its penetrating foreign investments and remittances. The Philippine economy grew by 6.9 percent year-on-year in the first half of 2016, making it the strongest performer among major East Asian developing economies including China, Indonesia, Thailand, Malaysia and Vietnam.

Here is a recent Statement by the Hon. Carlos G. Dominguez, Governor of the World Bank for Philippines on October 13, 2017

The Philippines has emerged as an important engine of growth for East Asia. We are now the second fastest growing economy in the region.

We are aspiring to achieve a growth rate of 7% this year and through the medium term. That is a rate of growth we consider sustainable given our macroeconomic fundamentals. It is a rate of growth that will happen through increased investments in modernizing our infrastructure.

The increased investments in infrastructure will be pursued without sacrificing the fiscal stability we worked so hard to achieve. We intend to fund the investments through official development assistance and a substantially broader revenue base.

A comprehensive tax reform program has been prepared to ensure a reliable flow of revenues. This will, in addition, help us reshape our economic growth to be investments-led. The new revenue architecture will be conducive to investments, simpler and easier to implement. It will be a powerful tool for achieving inclusive economic development for the Philippines.

The first, and more politically challenging component of this package is in the advanced stages of legislation. We expect the new tax policies introduced in this component to be enacted by the end of the year. The investment community warmly welcomes this package of measures and will consider enactment an indication of government's political will to do what is necessary to achieve inclusive growth.

The infrastructure program will be the main stimulus to help sustain high growth. That program is well on its way. We programmed infrastructure investments at more than a trillion Philippine pesos annually into the medium term. The whole of government is primed to see this program proceed as scheduled.

Rapid growth will be assisted by what we call a demographic “sweet spot.” Over the next few years, the Philippines will have one of the youngest workforces in the world. We are investing in the health and education of young Filipinos. This will ensure a robust base of competitive human capital. The high growth rate we are fostering will help ensure young Filipinos will not want for quality jobs in the future.

By improving our national logistics backbone, we hope to achieve dramatic improvements in both agriculture and industry. We will support this with trade facilitation, further liberalization in more areas of the economy and the achievement of an orderly political community.

There are, to be sure, some areas in the country with serious security concerns. The Philippines has become a frontline state in the global effort to contain terrorism. This year, we faced our biggest challenge as a large force of terrorists occupied parts of the southern Philippine city of Marawi. That challenge had been decisively quashed.

We expect Mindanao to lead our economic growth. With abundant mineral resources and rich agricultural land, the island holds much potential for wealth creation. That potential has been stymied by many decades of armed conflict. The present leadership aims to achieve both peace and prosperity in Mindanao over the next few years. A major portion of our infrastructure investments will go to Mindanao, helping support business activity and reducing poverty.

Philippine politics is habitually turbulent. Fortunately, there is always more sound than substance in the apparent turbulence. We are confident in sustaining the stability and sound governance that are preconditions to progress. The present leadership is unrelenting in realizing administrative reforms and fighting corruption.

Regional developments will help support our strong economic performance. The ASEAN Free Trade Area is moving ahead as scheduled. Regionalization will support industrialization. A large and increasingly prosperous regional common market will provide a nurturing base for our industries, and hence for our expanded trade with the rest of the world.

We are actively cultivating bilateral and multilateral partnerships to support our own development. These reliable partnerships have been helpful in realizing the inclusive growth we pursue.

In sum, we are moving forward as planned. The regional context is hospitable. The resurgence of global economic growth will help us sustain ours. A broad global consensus for freer trade overwhelms those instances where protectionism seems on the rise.

We are optimistic about the future. We are confident in our own ability to push forward with a viable strategy for rapid economic expansion. We are proud to perform our newfound role as a vital engine for regional and global growth.

In this beneficial context, we will be relentless in finding complementarities with our regional partners. We will be decisive in seizing opportunities. We will be assertive in transforming our economy to bring the best benefits for our people.

Some Ideas to Open up Business in Singapore  

Singapore, as a big tourism destination, has its own enchantment. This very beautiful, neat, secure, and clean city, makes everyone feeling good to be there. The entertainment this city has offered, always attract the tourist to visit Singapore. Despite that, Singapore also opens up space for foreigners to invest and make their own business. Even the well-known giants  like Google, Apple, Procter & Gamble, DBS Bank, Microsoft, and many other companies have and do run their businesses in Singapore.

If you want to start your business abroad, you may want to try Singapore. The reason is, this city offers you a conducive climate for business. The financial stability, free market economy, sturdy FOREX market, strong law and regulation, fine infrastructure, the anti-corruption system, located in a strategic geographic, and good human resources have made this city be the most valuable business place for foreigners. Below is the list you may want to try to run your business sector into
Travel and Tourism
Looking at the statistics from Q1 2017; The tourism sector saw good growth in Q1 2017. International Visitor Arrivals (IVA) increased 4 per cent over the same period in 2016 to reach 4.3 million visitors while Tourism Receipts (TR) grew by 15 per cent to reach $6.4 billion. The strong growth in TR was due to higher visitor arrivals and growth in all ?major TR components, except Sightseeing, Entertainment & Gaming, which held steady. Gazetted hotel room revenue was estimated at $0.8 billion for Q1 2017, a year-on-year decline of 1.3 per cent. Average Occupancy Rate (AOR) grew by 1.3 per cent year-on-year while Revenue per Available Room (RevPar) declined by 1.2 per cent year-on-year due to a lower Average Room Rate (ARR).
Hospitality
Hospitality business, cannot be denied, is the most profitable sectors on a large amount of tourism in Singapore, as the major tourism destination city. This includes bar, café, restaurant, hotel, and even a resort. People consume food and beverages a lot, they're looking something unique to find the new experience they will not have from any other place.
Information Technology
Singapore infrastructure has demanded a lot of IT industry to burgeoning. This will promise an IT company to develop, besides a bunch of skilled employers in there. We can see as mentioned above, what company has been succeeded to run their business here. You can choose some IT business you interested into.
Bio Technology
This sector has grown rapidly in Singapore. We might know the product of this biotechnology company brand this day, like Pfizer, Novartis, and GlaxoSmithKline. The government of Singapore has put an effort to investing in this sector and promote it.
Telecommunications
Singapore also the biggest one of telecommunication hubs at South East Asia Region, from mobile connections until internet connections. Though so, there's a lack of work on telecommunication industry. You might be the one who will complete this emptiness.
Fashion Retail
Not just the tourists who love to shop in this city. The people here are also a modest and updated about fashion. They like to step forward and show their best. A lot of international brands has developed their market to this city too, such as ZARA, H&M, Levi's, etc. The tourists also hunt for this branded fashion in a reasonable price. Retail outlet and franchise business will make a lot of profit too.
Education
There's just a small amount of educational institutions in Southeast Asia but they are in high demand. So you might want to try to build your qualified education institution which gives a course related to the major interest, linked to the future business opportunity on Singapore. Here are some links to check out National University of Singapore, Nanyang Technological University, Singapore Management University, Singapore University of Technology and Design, Singapore Institute of Technology, Singapore University of Social Sciences.
Actually, there's still a lot of sectors for developing your business besides these ideas. All you need to do is some research for the tremendous city of Singapore, choose your interest and look for the opportunity.
Ever Changing Car Markets  

The worldwide economic slowdown and negative growth has serve as a wake-up call for many consumers who had been overspending during the good times. There had been a wave of job cuts with companies declaring bankrupt. This has restricted people's spending power for buying luxury goods that they have gotten used to. People are tightening up their purse to save for a rainy day while the same case goes for national governments, whom have been figuring out methods for spending cuts. Cutting petroleum consumption is top on the agenda list. Governments had been running fiscal deficits during the good times without a proper control on spending and it is time for them to adopt some wise spending habits.Asia consumes the most number of oil in terms of global volume. China, together with Japan and India are already using 25% of total world oil consumption, with production of oil accounting for only 6.25% of total world oil output, hence making them large net importers of oil related products. These countries have been importing millions barrels of oil every single day non-stop. Their insatiable appetite for oil is mainly driven by demand from car owners.
Recently, Kia, an Asian automobile manufacturer based in Korea, launched its all new Forte Hybrid vehicle, the very first hybrid range going into mass production. Another model range was launched name Eco-Dynamics, where several environmental friendly cars, which meant lower oil consumption and gas emissions, will be marketed worldwide in many international markets.
Tata Nano, manufactured by the car company related to the famed Tata Industries, is another model launch that is predicted to capture India consumers' hearts and money, due to its extreme low retail price at below $2,000. Sales projections are expected to reach more than 100,000 vehicles, but there is potential for higher revenue with future launches. This car is targeted for the young and hip customers who will be captivated by the model and upgrade to a higher end model when their income rises. It is a classic case of capturing customer loyalty. Nano's highly successful launch had called for a new market segment and higher demand for low cost vehicles with minimal fuel consumptions.
Car companies are feeling the pinch of the economic slowdown due to cars being a luxury good. Many are cutting on production budgets for optimizing cost structure, but one area that remains spared is the development for fuel-efficient vehicles. Hyundai Motor, Honda Motor and Toyota Motor, which are South Korean and Japanese powerhouse car manufacturers have maintained research spending levels at 5% of total revenue. Hyundai has kept the research budget even on the backdrop of a $2.2 billion program for cost reduction. Car manufacturers in Asia are competing big time in the still growing industry by continuing its heavy investment outlay in R&D.
Hybrid cars development had propelled a new frontier market for batteries. Battery producers are also stepping up the game for higher R&D budgets in developing the next cutting edge battery technology. Hybrid automobile's rapid growth is the first transition and evolution for a car. As more advanced batteries are produced in the future, there will be a time where petroleum is no longer needed. Another hybrid model of the future, the Plug-In Automobile Electric Vehicles will have a bright future where sales are currently at 100,000, a tiny fraction currently from total 1.7million cars of hybrid range sold in 2015. Hakan Samuelsson, the chief executive of Volvo just announced all Volvo cars to be electric or hybrid from 2019. Tesla of course leaders in the electric field just rolled out Its first completed Model 3 (shown above).
Cars running on alternative energy supply other than petroleum are expensive to develop, but that did not deter companies from dropping heavy research funds on developing hydrogen-fuel cars. There are no mass production of these fuel cells currently which represents a big step forward on the car evolutionary stage. Hybrid industry is expected to grow many folds, as consumers get hooked on the concept which will further spur plug in cars development. This may cause petroleum based cars to be completely phased out from the market. Current hydrogen fuel technology is still not stable and too costly and this has restricted the overall growth rate for electric cars. Probably by the year 2018, battery technology will have made great progress which will further see explosion of growth for electric vehicles where cost will no longer be prohibitive.
10 Perfect Business Opportunities in Malaysia  

There are many business ideas that one can explore in Malaysia and all it takes is perseverance. Malaysia is strategically located beside Singapore, a knowledge based economy and Indonesia, largest consumer market in South East Asia. Prime Minister Datuk Seri Najib Razak has an ambitious economic growth target of doubling GDP by 2020. It has put in place many measures to attract foreign interest for setting up businesses in Malaysia. The coming paragraphs will set you on the right direction in terms of some of the best business trends in Malaysia.

First and foremost, the top business start-up is launching a travel agency. Malaysia is regarded a business district with frequent business traveller going in as well as out of Malaysia. The potential market is huge if you can carve out services specially tailored for the business travellers that are not price sensitive. The potential returns are unlimited and it requires extremely low amount of capital. Next is to make a name in the tourism segment. Malaysia hosts thousands of foreign tourists each year. Big bucks can be made for those dabbling in the travel industry. For those with sufficient capital, you can consider building a hotel chain in various tourist hot spots where there are never ending demand all season. You can offer products such as tour packages and travel related services. Budget is not a huge concern as you can always start small. Did you know airline operator AirAsia started in Malaysia.
Fashion industry in Malaysia is a good sector to venture into. Fashion is a hot topic among Malaysia citizens with heavy apparel consciousness. Fashion outlets have already flooded the market but there are still enough demand for newcomers. Learn the local tastes and culture before starting out you own fashion outlet. One can consider selling foods and various snacks in Malaysia. Malaysians are some of the best food eaters with a huge appetite to try out new things. Some of the food segment one can consider venturing is fast foods such as ice-cream or frozen yoghurt. Capital requirement is minimal as well. You can break even easily with a good concept. Remember Lazada launched operations in Malaysia back in 2012 and is now Southeast Asia's number one online shopping and selling destination, with presence in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
Businesses need investors or other forms of funding to get their operations going and there are no ends to small businesses starting up every day in Malaysia. You can tap the financing markets by starting up a microfinance company that funds small businesses for a return on your capital. Having experience in the finance sector is a plus. Malaysia is a producer and exporter of oil products. One can consider selling oil as well as gas products around Malaysia. Capital requirement for starting out as a small retailer is low which you can begin by selling small ticket items like kerosene. Once you have achieved sufficient scale, you can expand by launching a gas filling station that has all assortments of oil products. Financial services company iMoney.my is based in Kuala Lumpur.
Internet businesses are another hot opportunity for exploration. They can throw off good money if you know the ins and outs. Many graduates have made good profits doing website design, blogging, writing on a freelance basis and many more. The market on the Internet is huge and best perk is being able to work from home. If you have the requisite professional knowledge in accounting or law, you can set up a professional services consultancy business to help provide advice for small businesses starting each day. Accounting as well as bookkeeping services will always be needed and having the skills is imperative.
Transportation in Malaysia has huge potential as current taxi services are lacking in supply. Cars that are left idle at home can be transformed into taxi via Uber services and you can start making money off driving passengers to their desired destination. Many people are in need of transportation services every day and decent living can be made. Smartphone is in the pockets of every adult and probably kids still in school. About 50% of Malaysian grown-ups own at least 1 smartphone. Huge opportunities abound for those people with the skills to perform smartphone and electronics device repair works. It is much more cost effective to repair a damaged system rather than buying a brand new one. It is one of the golden money making areas should you have the requisite skills. 
Small Nation, Smart Nation  

Singapore responded to turn the country into the ‘Smart Nation', by including the latest technologies and joining the next generation and also sensor networks. To reach its target it encouraged worldwide entrepreneurs to advantage Singapore's smart nation framework and asked to utilize the nation as a ‘lively lab' to exhibit their ideas and solutions to test the national potential with global potential. In this scenario, the Singapore started its initiative late in 2014, aiming to improve the standards of its residents.

The executive deputy chairman of the IDA (Infocomm Development Authority), who oversees the innovative development program informed that the development program involves bringing the ranked universities and improving medical facilities and it also includes all the government and private sectors by using latest technologies, and improving better standards by increasing business and job opportunities. GovTech and the Infocomm Media Development Authority (IMDA) are formed as a result of a re-structuring between the Infocomm Development Authority (IDA) and the Media Development Authority (MDA).
Why Singapore aimed to turn into Smart City?
What made the Singapore nation to drive into new direction? The answer for this is, the changing trends in the nation and anticipated their impact on the nation, and decided to act according to the situations. Despite, the nation is facing many challenges like ageing population and urban density, and their extensive impact on health, transportation and other resources. The deputy chairman also stated that the Smart Nation framework includes experts from all fields like engineers, artists, scientists, and many deserving personalities to handle the challenges. In this connection, Singapore already initiated in Smart Nation strides by creating the necessary infrastructure which could flourish in the future.
Glance at future
Singapore's Smart Nation is starting to acquire in public sponsors and expanded its areas into different fields like traffic movements to air purity. This in return enables the government agencies to make a fast move and provide the best citizen services. Minister for communication and Information informed that if Nationwide Broadband Network will cover the wired connections, in the private sectors, whereas the Smart Nation Platform will cover the public areas. He expressed his view that this is possible if the public agencies have a collaboration with private agencies. The main components of the Smart Nation Platform were under the Infocomm Media, which is under control by private sector involving many government agencies. The common creation of both private and public agencies may gather the best ideas which may help for further development. One important strategy which is going to be launched by the economy is, boosting its economic aggressiveness in international trade. In connection to this the Infocomm Media Masterplan investigates the Smart Logistics which will be benefited by the internet technology, where there is real time active visibility and can improve the business capabilities. This may lessen the risk factors and reduce insurance coverage, where there is a complete change in the entire supply chain. One more innovative step the Smart Nation Masterplan is going to take in the Transport field, the agency decided to install AG (Aggregation Gateway) boxes which are built by the private sectors in collaboration with the government agencies are now going to replace by installation of cameras on the road, which needs a power cable. The installation of power cables takes time and money and manpower and disturbs the traffic. To overcome all the problems, the Smart Nation is planning to install the AG boxes. Here's a link to some Smart Nation videos on YouTube.
The Research stated that there is a wide range of improvement in the economies that are having latest technology as their foundation. To aim the Smart Nation, the economy needs talented people who can use the technology to increase the standards of the people with their talent. Singapore universities play an important role in improving the skills of their students with technological knowledge, to acquire this they designed many programs and are going to support the economy in future. Economy developers expressed that having support of young and dynamic people, well-developed innovative technologies, literate and robust economy can build a Smart Nation very easily. 
View Towards Vietnam Growth  

The Vietnam bank was established on 1st April, 1963. This is the bank exclusively established for foreign trade. In the year 1990, the Vietcombank focused only on foreign trade to aim at mass market commercial bank. In the year 1996, the official name of the bank was changed. This Vietcombank possesses seven members as Board of Directors. All the share of the Vietcombank stock trades on the Stock Exchange under the tag of VCB. Along with the banking services the bank has extended its services in collective ventures and also in subsidiaries. In the year 2008, the government selected the Vietcombank to privatize and merge with the state owned companies, which raised nearly US$ 650 million, this made the government to Vietcombank to initial for public offering.

In the year 2009, the Vietcombank has been secured the title as ‘Best Vietnamese Bank' for trade and finance. The bank secured this title for two continuous years, and it included in the list of the most prestigious banks in Vietnam. The bank maintained its position for more than a half century by rendering its services in finance and international trade services. Now the Vietcombank occupies a share in the markets in loans and deposits. The bank's profits in the first six months reached more than 2 trillion, VND occupied the first place in reaching the targets among the other banks. Along with the international trade, the Vietcombank concentrated on the domestic banking, for which it was selected as the ‘Best Vietnamese Domestic Bank'. The bank also received an offer from the investor to build few constructional projects. Later the investor asked to withdraw from the project, yet the matter has to be settled.
There is a slight GDP growth rate of the city during the first term of the year, whereas the economic growth decline in the first quarter due to the drop in crude and agricultural production. Whereas the Gross Domestic product increased slightly, when compared with the earlier report. Now the economy is facing many challenges in the international market because of the drop in the prices of the crude oil. If we have a clear glance at the economy of Vietnam, there are imbalances in the economic growth. There is a slight rise in exports, whereas imports declined in the same proportion. The industrial production and Manufacturing sectors jumped higher, whereas agricultural based sectors declined because of severe drought, the growth rate has fallen down in the beginning of the year. The economic expansion of manufacturing and construction has increased the economic growth in the year 2015, The five year social economic plan of Vietnam has started focusing on the restructuring areas like banking sectors, state owned sectors and private sectors to increase the growth in the economy.
Apart from the a decline in the growth rate, in the agricultural sector , the state also wields more influence on land and capital , this has been stagnating for longer period and now the Vietnam needs more productivity growth to meet the current situations. Vietnam started boosting the international economic trade with the other countries such as Eurasian Economic, South Korea and so on. The slowdown in the economy is started with the global crisis . The ASEAN community was established to create more opportunities in the nation to initiate in the regional and global economies. The experts analyzed that the country's recent slow down in the growth was due to the merger and expansion of the provinces and also added few factors between the growth rates in the local areas as there is an absence of connectivity with domestic firms. The Vietnam economy is preparing for a change in the economy, ultimately there may be a change in the development of the economy. Let us wait and see the forecasting developments in the economy.

 

What Business Sectors to Start in Thailand  

Are you looking for the opportunity to make a business abroad? Then Thailand might be a good destination to choose. In Thailand, you can make a small business easily. But the important part of it is you have to do the analyzing with your opportunity about how your small business will grow bigger and last for a long term. Here are the lists of top ten business opportunity you can make in Thailand.
Restaurant
People in Thailand are getting busy with their daily activities, so they might have needed a fast preparing food and also, to take away. You can open a fast food restaurant to satisfy the need. Instead of local people, you will also find the tourists, because Thailand, as a tourism destination, have a high demand to travel into, so foreign food also is a good choice to take profit with.
Jewelry
There's a high demand for jewelry products in Thailand, and it becomes one most profitable sector. You might want to start small jewelry business by doing the import things and selling them there.
Web Design
Online marketing in Thailand has grown rapidly as in another area of Asia Pacific, due to the high demand of selling products online, so you might grow your own business too in this sector, especially if you are good with designing websites. You can crave a lot of money on it.
Real Estate
This huge business always becomes one of the most successful business everywhere, as long as human living there. For a start, you can be a selling agent of real estate business. Yes, it is profitable, and the best part is, you don't need a lot of money to become an agent.
Tech Products
It is including the smart phone, digital camera, Notebook, tablets, etc. Thailand has sold abundantly of this product every day. If you have a modality for this, no doubt, get yourself into it.
Automobile and machinery
There's just a few industries have moved on this sector. If you have the ability on repairing a car or selling them as an agent, you will make a lot of profit.
Healthcare services
Thailand people has been increasing their demand in this sector since they health awareness also increasing. Practitioners are in need these days.
Freelance Writing
Related to the increasing web design as mentioned before, writing for a blog, or an article, or business proposal is also demanding sector. You can work it from home as a freelancer, behind your computer.
Agriculture
This business is old, but not perishable. Everybody needs food from the farm; vegetables, fruit, meat, poultry, mention it. You can start small with small poultry or farm, and grow it into a bigger farm for next purpose.
Garment and Textile
They produce and sell tons of it, inside and outside of the country. This is a promising and well-growing business on Thailand. The investor has given a lot of their infestations in this sector. You might want to try selling or importing from Thailand, due to the low cost they have.
There's still a lot of sectors to dig into, but this ten opportunity might be promising, and has been tested are on a high demand. You have to decide what sector you want to be in your business, according to your ability and analyzing the market before you really run on it.

 

  
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