Crude prices rise again due to tropical storm Gustav
August 30, 2008
Oil prices on Friday rose amidst fears tropical storm Gustav will soon enter Gulf of Mexico area, which is home to a quarter of US crude supplies and 40 percent of its refining capacity. The price rise was also supported by the weakened Dollar.
On Thursday the price for crude in October rose by 93 cent almost shooting up to $120 a barrel, before finally settling at $115.59 a barrel, by the end of the day. In Europe, light sweet crude for October delivery was $116.72 at midday trading.
Britain’s Daily Telegraph, citing an unidentified business source, reported that Russia may cut oil supplies to Germany and Poland as early as this weekend in response to the threat of EU sanctions over Russia’s war with Georgia, which also provoked the Traders reaction.
According to Mr. Jonathan Komafel,
“Until this hurricane hits, the trend has to be higher towards the $120 level.”
As a precautionary measure, as the tropical storm called Gustav advanced, oil companies were pulling employees off installations in the Gulf of Mexico area.
Britain, a favourite business destination of Indian businesses
August 2, 2008
According to Grant Thornton’s newly launched India Watch research, which is engaged in monitoring the India-Britain business relationship through both cross-border M&A trends as well as performance of the Indian companies on the London Stock Exchange, Indian businessmen are spending more on buying business in Britain compared to offshore business acquisition in other countries.
The Indian acquisitions amounted to ₤930 million in the US, ₤561 in the Netherlands, whereas after acquiring Jaugar and Rover by Tata Motors, the total acquisition value was in the region of ₤1.52 billion in the UK in the first half of the year. However, if one goes by the number of companies acquired, US remained number one destination with 41 American business bought over compared to 20 British companies in the first half of 2008.
Stock broker firm Hichens Harrison & Co Pic was purchased by India’s Reliegare Capital Markets Ltd for ₤50 million, which demonstrates the diversity of British firms catching Indian interest. The other factor contributing towards Indian companies’ acquisition spree is the economic growth resulting in sufficient cash at hands to be used fruitfully.
Mr. Anuj Chande, head of Grant Thornton’s South Asia Group, said “The rising interest was owing to a combination of historical ties, strong cross-border business links and infrastructure and a very compatible business ethos. Indian businesses are looking to buy brands and established distribution networks.”
‘Urgent action is vital to prevent villages dying’, states a report
July 23, 2008
The Lib Dem MP, Matthew Taylor, whose report had been commissioned by the prime minister, stated many people find the countryside life very ‘challenging’, adding that ‘some urgent action is vital to prevent villages dying and also our market towns being wrecked by unsympathetic development.’
He noted: “If we fail in building the affordable homes to enable the people working in the countryside to live there we will risk turning our villages into gated communities of only wealthy commuters and the retired.”
He also touched upon the aspect of community ‘lifeblood’. Mr Taylor stated, in many cases, “only a handful of well designed homes - kept affordable in perpetuity for local people - will make all the key difference to the sustainability of a village and its services”.
It said the creation of small businesses and home-based working practices need to be encouraged in the countryside through the purposeful adoption of flexible planning policies - especially where work-based extensions to rural homes are concerned. It also concluded housing associations should consider ending bans on those setting up a home-based business unit in social and affordable homes.
Young families in rural areas of the gradually being priced out
July 23, 2008
A new review of rural economy, businesses and housing has stated that planning restrictions need to be eased for encouraging rural businesses apart from taking steps for discouraging bland housing estates.
This government-commissioned report also found that the UK’s rural population had increased by well over 800,000 in the last decade or so. This marked a 7 per cent rise in the number of people now staying in the countryside. This is twice the rate of growth recorded in urban areas.
Young families in rural areas were gradually being priced out of their native locations and own communities. Expensive homes coupled with low wages greatly threatened rural communities, author of the report and the Lib Dem MP, Matthew Taylor, pointed out.
In order to stimulate employment generation and local economies in the UK’s countryside, the review has recommended planning rules and practices that encourage small rural business entities to move into urban centres once they get in expansion mode.