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General
Economy in General
- Mobile phone and Money
- According to Economist, Mobile phones have transformed lives in the poor world. Mobile money could have just as big an impact. The use of mobile phone as a way to do banking is a neat idea. This is bridging the distant gap making the world even smaller place to live. Now Money can move at the rate of telephone call. Today, it takes 3-5 business days to transfer money from institutional banks. If you go to money transfer agents, it is within 24 hours. Now with the phone, it is as fast as texting the message.
- The Chinese Disconnect
- Senior monetary officials usually talk in code. So when Ben Bernanke, the Federal Reserve chairman, spoke recently about Asia, international imbalances and the financial crisis, he didn’t specifically criticize China’s outrageous currency policy.
- Gold hits new high on India deal
- The price of gold has touched an all-time high after a large sale of the precious commodity by the International Monetary Fund (IMF) to India.
- What is deflation?
- If there is one word to get an economist quaking in their boots, it is deflation. Many major Western economies are in recession and others are heading towards it. Some experts are warning that deflation could be next. It is what happened in the Great Depression of the 1930s and in Japan in the 1990s. "Deflation is, as it sounds, the opposite of inflation," said economist Diane Coyle on BBC World Services' Analysis programme. "It means that the general level of prices is falling consistently over quite a long period of time.
- The dark side of Dubai
- Dubai was meant to be a Middle-Eastern Shangri-La, a glittering monument to Arab enterprise and western capitalism. But as hard times arrive in the city state that rose from the desert sands, an uglier story is emerging. Johann Hari reports
- How Visa, Using Card Fees, Dominates a Market
- very day, millions of Americans stand at store checkout counters and make a seemingly random decision: after swiping their debit card, they choose whether to punch in a code, or to sign their name.
