Monday, June 23, 2008
Sunday, June 15, 2008
Travelogue - Sydney (Australia)
In spring & autumn, a cardigan or light weight sweater is appropriate.
In winter a thick coat or jumper is required particularly for the evening.
The Discovery Climb will take climbers on a unique journey of discovery through the heart of the Sydney Harbour Bridge and to the very top, 134 metres above sea level. Climbers will also be able to touch the raw steel and infinite rivets as they wind around the inner components of the Bridge. The experience takes 3.5 hours and all climbers will receive a commemorative certificate and a photograph of their Climb group at the summit.
It provides three diving programmes to suit for different divers.
2.Shark Dive Tune Up Programme for certified divers (for divers who wants to refresh their diving skills)
3.Shark Dive Xtreme Certified Programme for certified divers (featuring Shark awareness lecture - origins of sharks, reproduction, identification etc.)
Cloud 9 Balloon Flights
Sydney's oldest working class suburb, Balmain is now Sydneysiders and yuppies' preferred place of abode. You will find cafes packed with locals, shopping strips and the Balmain Market (opens Saturdays only)
Sydney's beachfront precinct, the Bondi area has many interesting little shops, heaps of fashionable surf wear and many laidback outdoor cafes
This beautiful suburb of Sydney has long been known as a great day trip or weekend destination. More than just a famous beach, it has wide variety of experiences which can be enjoyed by all, such as unspoiled beaches, National Parks, Oceanworld Manly, Quarantine Station, galleries and museums, exquisite seaside restaurants, bars and shops.
Westfield Bondi Junction shopping centre is conveniently located across the road from the Bondi Junction bus and train interchange.The 5 level shopping centre houses over 300 shops including department stores Myer, David Jones, some famous Australian brand such as Alannah Hill, R.M. Williams. The centre provides a variety of lifestyle products, fashions, health & beauty and fresh food etc. The shopping centre offer great entertainment and lifestyle experiences, together with cafes and restaurants dining.
A colourful weekend market & bargain hunters’ paradise with over 800 stalls selling everything from fruits, fashion, electrical products, to leather etc!
Featuring the very best of Sydney's fashion with an endless selection of labels and lifestyle stores, e.g. Grace Bros, Mambo, Country Road, Nine West, Esprit, etc ... all at factory outlet prices.
This waterfront shopping centre has a distinctly Australian flavour. Shops include Ozi Varmints, for kids' clothes; The Cotton Store, Sydneyscope and Gavala Aboriginal Cultural Centre. Nearby Dixon Street is the heart of Chinatown, an ideal place to find Oriental crafts, jewellery and fashion.
*It is about 90 minutes drive or 110km west of Sydney.
*There are 26 townships in the Blue Mountains. The main ones being Glenbrook, Springwood, *Wentworth Falls,Leura, Katoomba, Blackheath and Mt Victoria.
*Blue Mountains is a city surrounded by 247,000 hectares of National Parks
*The wild grandeur of the Mountains and Valleys were formed over several million years.
*At Echo Point, Katoomba visitors can view the famous rock formation, The Three Sisters
*The region has a diverse range of accommodation from Resorts, B&B’s, Motels Guesthouses to cabins in the Bush
*Hunter Valley Wine Country is about 2 hour drive north west of Sydney.
*Cessnock is the gateway to the Hunter Valley
*It is the oldest winemaking region in Australia.
*There are more than 110 wineries in the valley.
*It is a place that is well known for world class cuisine & hospitality as well as for its world famous Shiraz and Semillion wines.
Hunter Resort Home the Wine Country's First Micro Brewery
The Bluetongue Brewery at the Hunter Resort is the first micro brewery in the Hunter Valley wine country. At the bar, you can see the brewery which is separated by a glass wall. Many styles of beer are available including the unique Alcoholic Ginger Beer, the sensational premium Lager and the full flavoured ales. The Hunter Resort Country Estate is located in the very heart of the Hunter Valley Wine Country on 70 secluded acres, and is an easy 2-hour drive north of Sydney.
Available at the Hunter Resort:
Hermitage Road, Pokolbin NSW 2320
The 2 hour session is available daily at 9am.Learn all the aspects of wine - eg. wine appreciation & differentiation, how wine is made, etc .Certificate will be given out to all participants upon completion. Bookings are essential.
Port Stephens has two unique natural phenomena :
It is popularly known as the Dolphin Capital of Australia, it has about 160 Bottlenose dolphins residing in the waters of the port.
Port Stephens has the largest coastal moving sand mass in the Southern Hemisphere. The giant sand dunes are a magnificent sight along Port Stephens white beaches.
Central Coast is located on the East Coast of Australia. It offers coastal and country holiday experience just an hour drive north of Sydney’s Harbour Bridge.
It covers the coastline from the Hawkesbury River (35 km north of Sydney) for the next 80 km. Because of it unspoiled environment and location, it is also one of the Oyster Barns where farm the famous Sydney Rock Oyster.The only place in the world where five separate waterways meet.
Quad Bike Ride to Explore Central Coast’s Bushland
Located at Glenworth Valley, Australia's largest horse riding centre, which is only 1.5 hour’s drive north from Sydney, Quad Bike King offers visitors an exciting and different way to explore the Australian Bush. Ride on brand new 4-wheel motorbikes (all terrain vehicles) through bushland, open paddocks, rainforest and mountain trails on the fully guided tours.No experience is necessary. Professional instructors will provide introductions and safety instructions before the adventure starts, as you follow the guides along tracks through farmland and into the rainforest. The large varieties of tracks are carefully laid out to be challenging but safe.
Only 90 minutes drive south of Sydney.
Wollongong, one of the largest cities in Australia, is the capital city of Illawarra region and a coastal city positioned south of Sydney.The lifestyle of the city and its recreational opportunities are dominated by the unique combination of mountains and sea which creates a beautiful natural environment.The city possesses about 80 kilometers of coastline including spectacular, unspoiled and uncrowded beaches and a large tidal lake suitable for variety of water sports.Wollongong also features the Nan Tien Temple, the largest Buddhist temple in the Southern Hemisphere.
Grand Pacific Drive
Driving on Grand Pacific Drive gives you a brand new self-drive excitement! It is 70 metres long along the coastline of New South Wales and 1 hour of south of Sydney.The driving route begins at the Royal National Park, it leads you through beautiful coastal rainforests and scenery closely to sheer cliffs and the South Pacific Ocean. After that, you will drive through the 665 metres long Sea Cliff Bridge. You can just stop at car park space at any time, walk around and indulge your eyes with unlimited sky and sea view.
Other than driving yourself, taking the Harley Davidson Motorcycle also gives you a stylish experience adding with excitement. The tour is started from Bald Hill to Wollongong.
Leather jacket, gloves and a helmet are provided to make you a coolest look. You can choose a solo motorcycle or a sidecar with your partner
It is 554km and 7 hours drive north of Sydney; 400km and 5 hours south of Brisbane.
Known by Aussies as a traditional place for coastal holidays, Coffs Harbour is famous for crescent-shaped beaches, banana clad hills and an all-year-round subtropical climate that is arguably one of the best in Australia. It has become the Adrenalin and Adventure capital of the Holiday Coast.
1.Thredbo
2.Perisher Blue
Thredbo is located within the Mount Kosciusko National Park.
It is an all year round resort – ie the resort & facilities are open all year round. Thredbo is a fully self contained village with all the facilities of a small town : banks, supermarkets, boutiques, shops, post office, chemists, newsagents, souvenirs, restaurants, cafes, just to name a few – and all within walking distances from each other. Most of the accommodation is within walking distances to the ski slopes. Overnight and day parking in the resort is complimentary to all guests. Throughout the resort, there is a free shuttle bus that runs at regular intervals from early morning till late.
Perisher Blue
Perisher Blue is the largest snow resort operation in the Southern Hemisphere.
It combines the resources and facilities of Perisher Valley, Smiggin Holes, Mount Blue Cow, Guthega, The Station Resort and the Skitube alpine railway. It has the highest terrain, the greatest number of lifts and the most reliable snow in Australia. Guests can ski in and out from their hotel at this resort as some accommodation is located at the base of the ski lifts. This resort has a good range of hotels/motels/resorts spread out in the snow fields of Perisher Valley Alpine Village, Smiggin Hole Alpine Village & Guthega Alpine Village. The Perisher Centre is where the banks, post offices, cafes and shops are located.
Arguably the most vibrant, entertaining annual festivity cum night-time parade that is unique to Sydney, the Mardi Gras draws visitors from all over the world every year. Exudes a spirit of celebration, imagination and humour. The colourful grand Mardi Gras Street Parade & Party is the grand finale of the festival.
Undoubtedly, Sydney Harbour is the perfect place for the New Year's Eve celebrations. Under the famous harbour backdrop, you could experience the breathtaking views of the New Year's Eve fireworks spectacular with the display of lights, colour and music.
Thursday, June 12, 2008
Sum's Tutorials ...."What is Seigniorage"
An example
No seigniorage occurs in the following situation: A person has one ounce of gold, trades it in for a gold certificate (which allows him to redeem the certificate for one ounce of gold), keeps that certificate for a year, and then trades it in for gold -- he or she ends up with exactly one ounce of gold again.
Seignorage does occur in the following situation: A government does not issue gold certificates and instead converts gold into currency at the market rate. A person trades in an ounce of gold for its worth in currency, keeps that currency for a year, and then trades the currency back in for an amount of gold -- he or she may receive a different amount of gold from that which he or she started with, if the price of gold has increased or decreased during that year. Even if he or she were then to use the currency to buy something, someone is holding the bill for the entire time and the government still has the gold.
So, in other words, seignorage is the carry on money in circulation.
Examples
The "50 State" series of (25-cent coins) was launched in the U.S. in 1999. The U.S government planned on a large number of people collecting each new quarter as it rolled out of the U.S. Mint, thus taking the pieces out of circulation. Since it costs the Mint less than 10 cents for each 25-cent piece it produces, the government made a profit whenever someone "bought" a coin and chose not to spend it. The U.S. Treasury estimates that it has earned about US$5 billion in seigniorage revenue from the quarters so far.
In some cases, national mints report the amount of seigniorage provided to the respective government; for example, the Royal Canadian Mint reported that in 2006 it delivered $C93 million to the Government of Canada in seigniorage ("the difference between the face value of a coin and its cost of manufacture and distribution").
The introduction of €500 and €200 Euro notes is seen as a source of seigniorage revenue for the European Central Bank, particularly because no other major central bank issues currency in such large denominations. The Swiss National Bank does, however, issue CHF1000 denominations and Monetary Authority of Singapore $1000 and $10,000 denominations that are routinely circulated.
According to some reports, currently over half the revenue of the government of Robert Mugabe in Zimbabwe is in seigniorage.Zimbabwe has experienced hyperinflation, with the annualized rate topping 100,000% for January 2008
Prime Time Television and TRP's (Sum's take)
Report Card on India's Fiscal Health (Sum's take)
1. High fiscal deficit. India's gross fiscal deficit is already one of highest in the world and its getting bigger and bigger. The biggest reasons being S.U.B.S.I.D.I.E.S. (oild, fertilizer etc etc), babus sixth pay commission (its a different matter the jawans and III and IV category employees still gets peanuts), higer wages, farm loan waiver (increased later on the insistence of Rahul baba) and significant duty and excise cuts on account of reigning in inflation. High fiscal deficit will increase borrowing and keep interest rates high.
2. PC and his successors will be forced to reduce public borrowing and curb public investments to keep fiscal deficit within manageable limits. Curbing public investment will have an adverse effect on a boyant economy where infrastructure in lacking and need big thrust by public investment from the government.
3. The amount spent on account of oil and fetilizer subsidy is not meeting the desired objective of helping the poor by keeping the prices low. Rather the benefit of oil subsidy is enjoyed by the lower and higer strata and fertilizer subsidy has in no way reduced farmer suicides or curbed inequalities in the farming sector. The subsidies if reduced the amount can be spent on improving the education, medical and social infrastructure and channelised for generating employment opportunities for the poor which will help India grow much more rapidly. Imagine India's growth story if poor get the purchasing power. The composition of spending is undesirbale. There are certain transfers meant for the lower strata misused and enjoyed by the higher starata.
Sahara case: Battle over big deposits
Tuesday, June 10, 2008
Fly away Peter, fly away Paul
Monday, June 9, 2008
Licensing of Travel Agents
A system of licensing will more of less solve the problem of human trafikking and keep illegal immigration under check. The embassies infested with this problem will vouch for such an idea of licencing and the government (especially the Lok Bhalaia party) will have more of its time consentrating on its core business of politics than helping the people who suffered at the hands of the "Travel Agents".
Monday, June 2, 2008
Sum @ Langkawi .......
Sunday, June 1, 2008
India's Gas Pipelines Dreams
India's decision to join the Turkmenistan pipeline project which is more hazardous than the Iranian channel is puzzling.
Playing the Great Game calls for grit, sound calculations and a determination to win at all costs. More so, when spiralling energy prices make a mockery of energy security for countries that are heavily dependent on imports. India is. It already imports 70 of its energy requirements and with the economy growing at approximately eight percent, the figure is expected to increase to as much as 90 percent in the next two decades. Yet, India plays the energy game with a strange mixture of pusillanimity and a bravado that verges on the imprudent.
Nothing exemplifies this better than two major initiatives India took recently. First, it signed up for the Turkmenistan gas pipeline after watching from the sidelines for well over a decade and resisting all inducements to join it, even the blandishments of the US. Then, within days it went out of its way to lionise Iranian President Mahmoud Ahmedinejad during a stopover in Delhi, making it appear that the hoarier Iran-Pakistan India (IPI) pipeline was back on the agenda. But only seemingly so since the government has been sending out clear signals thereafter that it considers the IPI pipeline too risky at this juncture.
Far more significant is India's decision to throw its weight behind the Turkmenistan pipeline that is plagued by a host of uncertainties, not least the adequacy of supplies. The 1,680-km line that will snake its way from the Dauletabad gas field in the central Asian country, cut across Afghanistan and Pakistan, taking in Herat, Kandahar and Multan before reaching Fazilka on the Indian border. Called TAPI as an acronym for the names of the countries it crisscrosses, this pipeline is better known in the West as the Trans Afghan Pipeline because close to half its length (830 km) lies in war-torn Afghanistan; just 170 km of this audacious venture will lie in Turkmenistan.
It was surprising, therefore, that Delhi plumped for the TAPI project with very little discussion on its merits. Announcing the agreement, Minister of State for Petroleum and Natural Gas Dinsha Patel gave some sketchy details of what India expects to gain from the $ 7.6 billion pipeline—still an estimate—that is expected to bring gas to India from 2014. Patel says TAPI is projected to supply 90 mmscmd (million standard cubic meters daily) of gas, of which Afghanistan will get 5 mmscmd during the first two years and 14 mmscmd from the third year onwards. The rest is to be shared equally between Pakistan and India. That's roughly around 30 billion cubic meters (bcm) of gas annually.
Commercial reasons are ostensibly the major stumbling block on the IPI pipeline with India and Pakistan still squabbling over the transit fee. India is asking Pakistan to lower the transit fee to 15 cents per million British thermal units (mmBtu) from the 42 cents it is demanding in addition to a flat payment of $200 million a year that Pakistan is seeking for the security and maintenance of the pipeline.
Blueprint on pension for the masses
(State pension plan for the poor simplified and exampified by a unique initiative of the Rajasthan government. Time for other states and centre to catch up.)
There are about 137 million low-income workers in India with monthly incomes of up to Rs 3,000, for whom retirement is not an option. In 60 years of independent India we have not yet got round to tackling this. The good news is that some path-breaking work is beginning to take shape. It could be the blueprint for the government to deliver targeted pensions to the poor.
During my interactions with large occupation groups in the country over the past 18 months, the demand for pensions was found to be consistently high. Technology and good product design can be used to overcome the challenges of high transaction costs and widespread coverage.
Data suggest that about 50 million of the above low-income workers are keen to save for their retirement and are willing to co-contribute at least Rs 1,000 per annum. This will cost Rs 5,000 crore per annum or just 0.1 of the GDP.
(with excerpts from the Business Standard)