India-Africa Summit a golden opportunity for India

Recently, the third India-Africa Summit was held in Delhi, India from October 26-29th, 2015. A total of 54 African nations were invited in the Summit and were represented by Presidents, Foreign Ministers and Kings.

The objective of this Summit for India was to expand its business relations in Africa and also get support for its candidature to be a permanent member of the United Nations Security Council.

India-Africa Summit picture

Web. 1 Nov. 2015.

India’s presence in Africa is nowhere close to the presence of China in the continent, but after this Summit things can start to turn in India’s favour. The conference was fruitful for India in a way because some countries responded positively. Egypt released two Indian prisoners that the country had held for 16 and 22 years respectively.

Angola’s Vice President said that India should do business with them, this could be a golden opportunity for India as the country is rich in diamonds to which Prime Minister Modi said it being a win-win for both nations. Somalia was also satisfied with the Summit as Prime Minister Modi of India said that India could send forces to counter terrorism on Somalian seas.

China’s revenue in Africa is more than twice of India’s. China’s trade earned them $222 billion from Africa last year while India at number two just earned $70 billion. But, according to me, India should not worry because they ought to catch up to China in the near future and Summits like these only make the process faster.

 

References:

http://indianexpress.com/article/explained/engaging-africa-indias-541-initiative/

http://www.aljazeera.com/programmes/insidestory/2015/10/india-challenge-china-dominance-africa-151028195608246.html

Image Source:

http://www.iafs.in/images/cms/logo-concept_1438528762.jpg

 

The names 6s IPhone 6s

They are back yet again with their newest creation. Yes, I am talking about the Apple Iphone 6s which was released in September, 2015. This is one of the most awaited creations of the year and the apple stores were flooded with pre orders.

The Iphone 6 plus and 6s are just a few months apart but still the customers expected a lot more from the latest version. So, what is so great about it that people are longing to buy it and apple is pricing it at a starting price of $749.

 

the 6s

Web. 4 Oct. 2015. <http://images.cdn.stuff.tv/sites/stuff.tv/files/news/iphone 7.jpg>.

 

The newest features that have been introduced to this version of the Iphone are 3D touch, motion wallpapers, bye-bye bendgate, a new color, better cameras, live photos, new touch id and performance improvements.

Apple has a very good track record and has always fulfilled its customer’s expectations. According to me, the new phone will make Apple a good amount of money. The launch of this phone will probably end the demand for the 5s and 5c, which is why they are being sold for so less in the stores. The 5c can be bought for $0 on a two year agreement.

apple-share-price-apple-share-price

Web. 5 Oct. 2015. <https://qzprod.files.wordpress.com/2015/01/apple-share-price-apple-share-price_chartbuilder.png?w=640>.

 

The graph above clearly shows how well Apple has been doing over the years. Apple has always seemed to surprise the world and come up with the best of things. From personal experience too, the Apple Iphone is my favorite gadget and I love using it.

References:

“IPhone 6s – Apple.” Apple. Web. 5 Oct. 2015. <http://www.apple.com/iphone-6s/>.
“Apple IPhone 6.” – Full Phone Specifications. Web. 5 Oct. 2015.

What’s happening to our loonie?

The Canadian dollar is living its worst nightmare currently. Its value has been depreciating day by day and has reached a record low which was last seen in 2004. There was a time when it used to be at par with the United States Dollar and now it is valued at about 76 cents. The big question is what led to this drastic change?

canadian dollar on usa map

Web. 30 Sept. 2015. <https://postmediawindsorstar.files.wordpress.com/2014/01/loonie_20140109.jpg?w=630>.

 

There are a few reasons why I think the Canadian dollar is losing its value in the market. The first one being the fall in the demand of the Canadian exports such as oil and other commodities. The second reason could be the recovery of the U.S. economy. Lastly, the loonie’s value could also be influenced by the interest rate cuts introduced by the Bank of Canada.

Royal Bank Strategist Mark Chandler says, ‘ The weakness in oil prices is spilling over in a nasty fashion in Canada.

The falling value of the loonie has worried everyone in the country except for the manufacturers who expect to make money by exporting their goods for cheap. It may help them a bit because it will make importing Canadian goods cheaper but it would also lower their value in the market.

The tourism sector also expects to make easy money due to the inflow of the numerous American tourists coming across the border to have fun and relax while also staying in budget. Walking down Vancouver’s downtown on weekends these days, I see Americans everywhere. This is the only good thing that can happen with the dollar falling. But, the big picture still suggests that Canada is not having a good time right now which can be seen in the conversion chart below.

cad to usd conversion chart

Web. 4 Oct. 2015. <https://chart.finance.yahoo.com/z?s=CADUSD=X&t=1y&q=l&l=off&z=m&a=v&p=s&lang=en-US®ion=US>.

 

On a personal note, I think that the falling value of the dollar is good for me because I being an international student save a lot of money while exchanging currency to pay my tuition or just for my own expenses. So in this situation this is the bright side for me.

So, What do you think?

 

 

References:

http://business.financialpost.com/investing/loonie-drops-to-lowest-point-in-more-than-a-decade-as-oil-and-gold-buckle-under-pressure

“Loonie Drops to Lowest Point in More than a Decade as Oil and Gold Buckle under Pressure.” Financial Post Loonie Drops to Lowest Point in More than a Decade as Oil and Gold Buckle Underpressure Comments. Web. 2 Oct. 2015.

http://business.financialpost.com/investing/loonie-drops-to-lowest-point-in-more-than-a-decade-as-oil-and-gold-buckle-under-pressure

“Falling Loonie Should Boost Windsor.” Windsor Star. Web. 2 Oct. 2015. http://blogs.windsorstar.com/news/falling-loonie-should-boost-windsor

 

 

 

Shell ends their Arctic exploration after spending $7 billion

As of Monday, September 28, the Royal Dutch Shell, commonly known as Shell, an Anglo-Dutch multinational oil and gas company ended their exploration for offshore oil in the Arctic after over $7 billion.

The results Shell got were not too promising as drilling more would only add to the costs and they would not have made enough money on this exploration which is one of the main reasons why they ended their venture in the Arctic.

shell-is-giving-up-on-its-arctic-drilling-plan-after-spending-7-billion (THE BIG PIC

Web. 3 Oct. 2015. <http://static5.businessinsider.com/image/560a967f69bedd443151a9f5/shell-is-giving-up-on-its-arctic-drilling-plan-after-spending-7-billion.jpg>.

 

Shell is not the first company that went in search of oil to the Arctic. Their reasons to start the exploration were justified as the Arctic is one of the very few places left on the planet which has been left untapped. They were not doing too bad as they had reached a depth of nearly 2075 metres with the exploratory well drilling in about in about 45 metres of water.

One of the other main reasons why Shell might have ended their exploration was also because of the opposition they faced from the local authorities and environmentalists. Many issues had already been raised against them saying that they can cause an oil spill and disturb the flora and fauna of the region and also leave an adverse impact on the wildlife of the region. This issue was also brought to President Obama’s attention.

OBAMA AND THE BEAR

Web. 3 Oct. 2015. <http://www.climatechangenews.com/files/2014/08/Shell.jpg>.

 

Their share prices have been going down for months and ending the exploration has only made things worse for Shell which can be seen in the graph below showing their share prices from the past few months.

shells graph

Web. 3 Oct. 2015. <http://www.advfn.com/p.php?pid=staticchart&s=NY^RDS.B&p=5&t=41>.

 

References:

http://www.cbc.ca/news/business/shell-stops-arctic-drilling-development-1.3246355

http://www.theguardian.com/business/2015/sep/28/shell-ceases-alaska-arctic-drilling-exploratory-well-oil-gas-disappoints

http://www.slate.com/blogs/the_slatest/2015/09/28/shell_in_the_arctic_shell_abandons_arctic_drilling_citing_regulatory_and.html

 

Spam prevention powered by Akismet