...2015 ECONOMIC SURVEY REPORT HIGHLIGHTS Presented by Ms. Anne, Waiguru, OGW CABINET SECRETARY MINISTRY OF DEVOLUTION AND PLANNING 29TH APRIL 2015 ECONOMIC SURVEY 2015 Outline • International scene • Highlights of the performance in 2014 country’s economic • Highlights of key Social and Governance statistics in 2014 • Economic outlook for 2015 International Scene • The world economy is estimated to have grown by 3.3 per cent in 2014. • This growth rate is similar to the revised growth of 3.3 per cent in 2013. • This low growth was due to – persistent weak import demand from advanced economies, – slower expansion of global supply chains and – shifts in demand towards less import intensive products. 3 International Scene cont’d GDP Growth Rates and Projections for Selected Countries Country 2013 2014 2015* USA 2.2 2.2 3.1 UK 1.7 3.0 2.7 Japan 1.5 0.4 0.8 Euro Area -0.4 0.8 1.1 China 7.7 7.4 7.1 Uganda 5.8 5.9 6.3 Tanzania 7.0 7.2 7.0 Rwanda 4.7 6.0 6.7 Burundi 4.5 2.0 4.7 1.4 4.8 2.3 South Africa • Source: OECD and World Economic Outlook [IMF] *Projections 4 DOMESTIC ECONOMY Sectoral Performance 5 Agriculture • Agricultural sector in 2014 recorded a growth of 3.5 per cent compared to a growth of 5.2 per cent in 2013 • The Agricultural sector recorded mixed performance mainly attributable to...
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...Employment & Salary Trends in the Gulf 1 Executive Summary Despite the slump in oil prices and conflicts in neighbouring countries, the Gulf region continues to enjoy a stable pace of economic growth, with most firms maintaining employment levels or increasing headcount. Most governments have so far used their large reserves to keep spending and investment plans at previous levels. from absorbing this pool of talent. Pay rises across the region averaged 6.7% in 2014, the highest average increase since the financial crisis, and are projected to accelerate further in 2015 to 6.9%. This is driven by the competition for talent and rising cost of living and, in the case of Oman, increasing unionisation The impact of the oil price fall has so far been of the workforce. At the same time, the strength limited to firms in the oil and gas sector, some of the US dollar, to which most Gulf currencies of which have been downsizing. There has also are pegged, is helping make Gulf salaries more been some slowdown in Bahrain and Oman, attractive for expatriates, reducing upward the countries with lower cash reserves where pressure on wages. governments have started to reduce their investment on infrastructure projects. The UAE, and particularly Dubai, remain the region’s most popular destinations for expatriates. Across the region, the fastest growing sector is Qatar ranks second in popularity with newcomers, healthcare, driven...
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...Journal of Business Economics and Management ISSN: 1611-1699 (Print) 2029-4433 (Online) Journal homepage: http://www.tandfonline.com/loi/tbem20 Evaluation of some business macro environment forecasting methods Vulfs Kozlinskis & Kristine Guseva To cite this article: Vulfs Kozlinskis & Kristine Guseva (2006) Evaluation of some business macro environment forecasting methods, Journal of Business Economics and Management, 7:3, 111-117 To link to this article: http://dx.doi.org/10.1080/16111699.2006.9636131 Published online: 14 Oct 2010. Submit your article to this journal Article views: 1769 View related articles Citing articles: 1 View citing articles Full Terms & Conditions of access and use can be found at http://www.tandfonline.com/action/journalInformation?journalCode=tbem20 Download by: [86.20.58.206] Date: 10 November 2015, At: 14:42 Journal of Business Economics and Management 2006, Vol VII, No 3, 111117 ISSN 1611-1699 EVALUATION OF SOME BUSINESS MACRO ENVIRONMENT FORECASTING METHODS Vulfs Kozlinskis1, Kristine Guseva2 Riga International School of Economics and Business Administration (RISEBA), Meza iela 1, k. 2, LV-1048 Riga, Latvia E-mail: 1Vulfs@rsebaa.lv, 2 kris@rsebaa.lv Downloaded by [86.20.58.206] at 14:42 10 November 2015 Received 06 03 2006; accepted 28 04 2006 Abstract. Latest studies in the field of business macro environment (BME) assessment and forecasting have been undertaken and successfully implemented...
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...Aruba State of Sustainability in the Aruban Fine Dining industry Course: MBA 2015 Module 2: Sustainability & Innovation Instructor: Prof. Dr. Ryan R. Peterson, PhD, Msc., Bsc., CHE Team: 6 Cavril Rombley Ryan Falconi Executive summary This state of sustainability report of the Fine dining industry in Aruba describes the challenging landscape of the local and international fine dining industry. An Economic industry analysis using Porters five forces analysis on sustainability in the fine dining industry is provided and data analysis of the conducted surveys. For this report a combination of qualitative and quantitative research was used. The data collection was based on interviews held with managers and owners of the restaurants and analysis of the survey, literature review and desk research. March 4, 2015 2 Table of Contents Executive summary......................................................................................................................... 2 1. Introduction ............................................................................................................................. 4 2. The changing landscape and challenging market space of the international fine dining industry. .......................................................................................................................................... 5 3. Economic and industry analysis ..........................................................
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...Consultancy Report—South Africa Executive Summary Crates-for-car is a manufacturing company which is producing wooden boxes for cars, this company is located in north of UK and 150 employees working for the head office. Currently, the company has five manufacturing branch located in South of England, around 75 workers employed in each branch. Recently, the company decided to increase its operations in other country, which would in the same size of plants this company already possess currently, South Africa is involved in the company’s extending plan. The responsibility of the HR Office is producing a consultancy report. This consultancy report will evaluate the situation in South Africa from various aspects to help this plan. This report is made up of six parts. Firstly, this report will introduce the general information of South Africa include economy, population; Then, this report focusing on the current political situation in South Africa and analyze the specific political environment which could related to establishing a operation in this country; Thirdly, in order to gain the correct information of local labor market, this report will elaborate the informal sector work in South Africa from the aspects of legal recognition, wages and protection; In the fourth part of this report, the employment legislation in South Africa and the government policy linked to the disability discrimination will be covered in this part; The subsequent paragraph will analyze the skill...
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...Economica (2015) 82, 1177–1216 doi:10.1111/ecca.12156 Family Firms, Corporate Governance and Export By RAOUL MINETTI†, PIERLUIGI MURRO‡ and SUSAN CHUN ZHU† †Michigan State University ‡Lumsa University Final version received 20 June 2015. This paper investigates the effects of family ownership on export using rich data on Italian firms. We find that family ownership increases the probability that firms export. This benefit is especially pronounced when family owners retain control rights and seek the support of external managers. The results suggest that families better internalize the long-run benefits of internationalization, but that their limited competencies attenuate this benefit in high-tech industries and in remote and unfamiliar export markets. Family firms also exhibit some tendency to enter foreign markets in a progressive way (sequential exporting) and through limited collaborations with foreign firms and intermediaries. INTRODUCTION In a global economy, export markets are an important venue for firms to grow. For this reason, scholars and policymakers intensely debate the determinants of firms’ international expansion. There is a growing consensus that firms’ corporate governance influences their ability to export. In recent editorials on the costs and benefits of family firms, The Economist (2012, 2013) mentions the successful experience of German and Northern European family firms in international markets, arguing that these firms have led the export...
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...Insight Report The Global Competitiveness Report 2014–2015 Klaus Schwab, World Economic Forum Insight Report The Global Competitiveness Report 2014–2015 Full Data Edition Professor Klaus Schwab World Economic Forum Editor Professor Xavier Sala-i-Martín Columbia University Chief Advisor of The Global Competitiveness and Benchmarking Network © 2014 World Economic Forum World Economic Forum Geneva The Global Competitiveness Report 2014–2015: Full Data Edition is published by the World Economic Forum within the framework of The Global Competitiveness and Benchmarking Network. Copyright © 2014 by the World Economic Forum Professor Klaus Schwab Executive Chairman All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, or otherwise without the prior permission of the World Economic Forum. Professor Xavier Sala-i-Martín Chief Advisor of The Global Competitiveness and Benchmarking Network Espen Barth Eide Managing Director and Member of the Managing Board ISBN-13: 978-92-95044-98-2 ISBN-10: 92-95044-98-3 Jennifer Blanke Chief Economist This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. THE GLOBAL COMPETITIVENESS AND BENCHMARKING NETWORK Margareta Drzeniek Hanouz, Head of the Global Competitiveness and Benchmarking Network and...
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...Research Methods BUS5004W MPhil: People Management (2014 intake) Contents 1. Introduction 3 1.1 Definitions 3 1.2 Background of the Study 4 1.3 Aims of the Study 5 1.4 Study objectives 5 2 The research problem 6 3 Research Questions: 6 4 Literature review 6 4.1 International perspective 6 4.2 African perspective 8 4.3 Namibian perspective 9 5 Conclusion 12 6 Bibliography 13 1. Introduction A functional financial sector is essential for economic development. Importantly, a strong financial sector, however, relies not only on the sound organized infrastructure, but also on the ability of its human resources. Human resources are critical in the development of the financial sector. Investments in human capital are influential in shaping the financial services industry where knowledge, skill, competencies and capabilities have become key strategic drivers of productivity, competitiveness and growth (BNM Financial Sector Development, 2015). With globalization, the need for capacity building in any country’s financial sectors becomes even more critical to ensure that experts within the industry will be able to keep up with the new changes brought about by the implementation of the international financial standards, such as IFRIS. In the next decade, there are likely to be many changes in the type of skills needed by the financial services industry. New roles will be created, and existing positions modified. As such, it is crucial...
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...Fiscal Policy Paper ECO/372 Principles of Macroeconomics The American tax paper relief of 2012, (ATRA), which was enacted on January 2, 2013 permanently extended the 2001 and 2003 federal income tax cuts for 98 percent of tax payers. The tax relief act reflects the approach sunporch that balances responsible reductions in government spending with new revenues and increased progressivity of the tax code. But the new law extended the expansions of several tax credits enacted in the American recovery and reinvestment act of 2009 (the recovery act) that have provided economic opportunities through tax relief and college expense assistance to 25 million low-and middle-income students and working families each year. Together with the additional Medicare and investment income taxes for high-income tax papers in the affordable care act (ACA), ATRA has made the federal taxes system more progressive. Government spending first reached $1.5 trillion in the mid 1980’s, and then breached $2 trillion in the recession year of 1991. In the 1990” s spending increases starts to level off, reaching $3 trillion in 1999. But in the 2000” s with the dot-com crash and the response to 9/11 government spending began to accelerate, reaching $4 million in 2004 and $5 trillion in 2008. Then came the crash of 2008 and government spending exploded years of modest in nominal dollars, spending is expected to resume regular increases by the late 2010’s. Income taxes must be filed by all businesses and...
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...Executive Summary Economic indicators are statistics put out by government agencies and some private companies to provide measurements for evaluating the health of the economy, the latest business cycles and consumers spending behavior and patterns. Various economic indicators are released daily, weekly, monthly and/or quarterly which can result in an enormous amount of data to go through. Post-Secondary colleges and universities rather than wade through all data reports and economic indicators can select a few macroeconomic indicators to assist in meeting the challenges of the market to provide a quality and competitively priced education. Significant indicators used in this paper to aid in the decision making process for sustainability and growth for post-secondary education are inflation, the unemployment rate, interest rates and consumer confidence. This topic is of interest because for the past 35 years holding a four-year college degree has given workers a distinct advantage in the U.S. labor market. There is usually a large wage gap between college-educated working adults and those with high school degrees. With technological advances in the workplace and a growing reliance on computers, skilled workers are needed to apply for these technological positions. However, based on new trends the U.S. labor market now favors workers who hold a graduate degree (Valletta, 2015). It is because of these new trends we want to focus on the need for quality education and economic factors that...
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...Economic Outlook, Prospects, and Policy Challenges 01 CHAPTER This year’s Economic Survey comes at a time of unusual volatility in the international economic environment. Markets have begun to swing on fears that the global recovery may be faltering, while risks of extreme events are rising. Amidst this gloomy landscape, India stands out as a haven of stability and an outpost of opportunity. Its macro-economy is stable, founded on the government’s commitment to fiscal consolidation and low inflation. Its economic growth is amongst the highest in the world, helped by a reorientation of government spending toward needed public infrastructure. These achievements are remarkable not least because they have been accomplished in the face of global headwinds and a second successive season of poor rainfall. The task now is to sustain them in an even more difficult global environment. This will require careful economic management. As regards monetary and liquidity policy, the benign outlook for inflation, widening output gaps, the uncertainty about the growth outlook and the over-indebtedness of the corporate sector all imply that there is room for easing. Fiscal consolidation continues to be vital, and will need to maintain credibility and reduce debt, in an uncertain global environment, while sustaining growth. On the government’s “reformto-transform” agenda, a series of measures, each incremental but collectively meaningful have been enacted. There have also...
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...The Current Status and Future Prospects of the Third Party Logistics Industry in North America: The 2015 3PL CEO Survey Dr. Robert C. Lieb Professor of Supply Chain Management D’Amore-McKim School of Business Northeastern University Boston, MA Dr. Kristin J. Lieb Associate Professor of Marketing Communications Emerson College Boston, MA January 2016 The Current Status and Future Prospects of the Third Party Logistics Industry in North America: The 2015 3PL CEO Survey This paper is based upon a 2015 survey of the CEOs of 15 of the largest thirdparty logistics companies serving the North American marketplace. The survey was the 22nd iteration of this annual study, and it addressed such topics as the major dynamics driving change in that marketplace and the opportunities and problems facing 3PLs in that region. It also focused on such issues as the recent wave of largescale mergers and acquisitions in the 3PL industry, shipper and 3PL problems related to labor problems at West Coast ports, E-commerce marketplace dynamics and their impact on 3PLs, Amazon’s continued expansion into logistics services and the possibility of Uber offering 3PL-like services. The CEOs also provided one-and three-year forecasts of company and regional 3PL industry revenue growth, while identifying the major changes they believed would occur in the regional 3PL industry during the next year. The implications...
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...George Prepared by Mohamed Ihsan Roj Majid Lana Bapir Title Human Resources Challenges: In Relation to Terrorism & Migration Date of Submission 4th of November, 2015 Human Resources Challenges: In Relation to Terrorism & Migration In general, human resources management (HRM) is concerned with the personnel dimensions of an organization. There is a set of functions each Human Resources Management department must perform, in order to achieve its objectives. However, the most frequent human resources functions that any typical organization could have are; job analysis and job design, recruitment and selection of employees, employees’ training and development, performance management, compensation and benefits, labor relations, and finally managerial relations. These seven human resource areas and their associated functions contribute to the most common objectives of an adequate quantity of competent employees with high skills, abilities and knowledge that are requisite for satisfying the goals of an organization. HRM is facing a lot of issues due to the instable economy as well as local and international progresses that are occurring rapidly. In the Survey of Global HR Challenges: Yesterday, Today and Tomorrow, several challenges for HRM were revealed. This survey concluded that "despite national and regional differences, there was remarkable unanimity” and unveiled the following HRM challenges among others: change management, leadership development...
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...Study by Gallup, there are only 13% of employees are engaged at work in the world. In other word, only one in eight employees that are emotionally committed to their work, contributing to the company’s growth by working effectively and efficiently. Studies have proved that engaged employees contribute to the company’s performance (Arrowsmith & Parker, 2013; Reilly, 2014; Pollitt, 2008) and strategies to improve employee engagement has been identified by numbers of scholars, practitioners and experts. However, many companies are still unsuccessful to control their employees turnover rate, which will lead to a financial loss, low workplace morale, deteriorate product or service quality and return on investment rate declining (Markovich, 2015). One of the key success factors of high performing...
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...as a tyre company and lists out various challenges that lay in their path ahead. Apart from MRF tyres, an overall summary of the tyre industry has also been given to give a background to the analysis. Contents Automobile & Tyre Sector and Company Overview 1 Automobile industry 1 Tyre industry 1 Evolution of industry 1 Technological evolution 2 Radialization of truck tyres in India 3 Classification of tyres 3 Cartelization accusations 3 Company Overview 4 Situation Analysis 5 Competitor Analysis 5 Apollo Tyres 5 JK Tyres 5 CEAT 6 Resources & Capabilities (2014) 6 Campaigns 6 Customer Analysis 7 Distribution channels 7 Market size and potential growth 7 Customer survey highlights 7 Perceived risks 8 Dealers’ survey 9 Company Analysis 9 SWOT Analysis 10 Strengths 10 Weaknesses 10 Opportunities 10 Threats 10 Challenges faced by MRF 11 Going Global 11 Incentives for dealers without hurting margins 11 Creating online presence 11 Widening gap between domestic natural rubber production and consumption 11 Options & Recommendations 12 Going global 12 Creating online presence 12 Incentives for dealer without hurting margins 13 References 14 Automobile & Tyre Sector and Company Overview Automobile industry The automobile sector of India...
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