Belliah Theise


Online Dating; You're Smart, Date Smart ... www.iSmartdate.com

Online Dating; You're Smart, Date Smart ... http://www.iSmartdate.com

Choose Your Language Of Preference Below  

 

 

French Version German Version Russian Version Spanish Version 

 

By ZamChro

It is very scary to see  Kwacha depreciating at a very fast rate. It is costing almost K6 000/per $1. The Jump from Nov’08 to February is just too enormous. This is what we predicated way back here at Zambian Chronicle, the collapse of the world economy is evidently has a lot of impact on the Zambian economy .

That is what happens when you are so dependent on the outside funding. Something is really wrong. This is what happened to Zimbabwe.

In America the economy is souring twice as much, although unlike Kwacha, the $ is appreciating. People are losing homes like crazy and job losses are sky rocketing.

US bank shares hit 17-year low yesterday on rising fears the government will have to nationalize troubled institutions such as Citigroup and Bank of America wiping out investors’ confidence as they feared government controlling of large portion of the financial sector.

According to the Financial Times report, Bank of America shares slid 14% to $3.93 their lowest point since 1984. Share in Citi were down 13.8%, closing at $2.51, their lowest since 1991.

There some options for the banks being discussed. One option, at least for Citi- would be to convert some or all of the government’s $45bn holding of preferred shares, as well as the $35bn in preferred shares held by sovereign wealth funds and other investors into common stock.

There is some refreshing news though from at least one country.

Canada has shown itself to be a pretty  good manager of the financial system in ways that haven’t always been in the United States. This is due to stricter regulation and their conservative culture, one that depends heavily on a vast and stable retail branch network, and clubby working relationship,.

Canada‘s banks have remained the strongest in the G7 and according to the October report by the world Economic Forum, the soundest in the world.

According to a Finance professor at the University of Toronto,  “… in Canada they do it the old fashioned way, where you need money you go to the bank and they will lend you no more than 75% of the value of your house. Canada is a more conservative place and as much as it limits growth in good times, that approach pays off when others begin a race to the bottom.”

It even gets better to know that there is a country like Canada in this world with reliable banks. Instead of our consulting Nigerians, it may be beneficial if President Banda would surround himself with world leaders like the Prime Minister of Canada.

In Canada, five banks the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Bank of Montreal , Largely control the market through thousands of branches across the country, forcing geographic diversification and efficiencies of scale generally not found in US or other countries.

Canadian investment banks, as part of commercial banks, are more tightly regulated and kept in check by main institutions, which would pay a price for unwise investing.

The Financial Times reported that after President Obama’s first visit to Canada, he has decided on taking a path that other presidents have not taken in the past putting banks his agenda and staying open minded to new ideas.

More drama on the souring economy.

On another note, UBS has been sued on account of 52,000 Account holders. The Department of Justice sued the Swiss bank giant for records on thousands of U.S customers. The DOJ says UBS agreed to pay a $780Million fine and reveal information on 250 US customers to avoid prosecution but vowed to fight the broader disclosure. Though some think the end of secret Swiss banking is nigh.

Copyrights © 2009 Zambian Chronicle. All rights reserved. Zambian Chronicle content may not be stored except for personal, non-commercial use. Republication and redissemination of Zambian Chronicle content is expressly prohibited without the prior written consent of Zambian Chronicle. Zambian Chronicle shall not be liable for any errors, omissions, interruptions or delays in connection with the Zambian Chronicle content or from any damages arising therefrom. 

Zambian Chronicle is a wholly owned subsidiary of Microplus Holdings International, Inc.

Copyrights © 2009 Microplus Holdings Int., Inc.

Choose Your Language Of Preference Below 

French Version German Version Russian Version Spanish Version 

Open Debate on Economy and how candidates will take the Zambian Enterprise forward. Below is what the two candidates HH and King Cobra put forward for the Zambian people to grasp. Who do you think is best for Zambia?

 

 R Banda and G Miyanda have not yet put up their website or any information. Our team decided to go ahead with the debate. Please we encourage our audience to critically read this information and pay attention to what the candidates are preaching on the rallies. Below is policy number one we decided to compare the two candidates, with how they are going to solve the Zambian economy. Please read and comment, for the benefit of every Zambian. We need your input.

 

Here at Zambian Chronicle are launching the debate on who should be the next Zambian president. We decided to critically look at their detailed policies on issues, where they stand and how they are going to move the Zambian enterprise forward without stumbling. Economy is number one issue we are looking at. Having said that, the team at our chronicle advises our audience to critically take a look at each and every policy on issues that all four candidates are putting forward before you cast your votes.

 

Unfortunately the two candidates, G Miyanda and R Banda have not put up their websites together yet since their declaration to run for president.  Our team decided to go ahead with the two candidates that have shown transparent in their policies through their website. In short Zambian chronicle will play Election centre from now on till the Election Day Oct, 30 2008.

 

Below we have the two candidates’ policies on economy. Please read carefully, understand their stand on issues, listen and pay attention to all 4 campaigns and come up with the right decision of who should lead the Zambian nation.

 

 The first one is Hichilema Hakainde’s policy on economy as reported by his campaign manager. The second one is Michael Sata’s as reported by his campaign team.

 

Thanks a trillion for your participation in the Zambian elections,

 

We all look forward in electing the right candidate on October 30 2008.

 

Belliah Theise (COO – Zambian chronicle) 

 

 

HH Is Running on: Campaign For Real Change – Theme Song. I liked the song that has been launched on HH website: listen to this, I will try to capture it later, but you can get to his website http://www.hakainde.com/index.php. Click home page the audio is right there. Awesome! HH is very creative and competitive.

 

Consider this:

 

The Auditor General’s report covering the period 2001 to 2005 reviews that the MMD government has through their various forms of financial mismanagement misappropriation and related irregularities lost 14.7 trillion kwacha of public funds. This money alone could have financed the entire education and health sector.

Each Minister and Deputy Minister in this Government has been consuming over 100 million kwacha per month.

Each Minister has more than two motor vehicles with over 1 5 million kwacha  worthy of fuel and over One million kwacha service costs per motor vehicle They also receive millions of kwacha worth of talk time.

Yet they receive tax free salaries and allowances and live in free houses with free water and electricity. Free medical services and their children have free education too.

The party will further develop appropriate taxation of all mining and other extractive industries in order to benefit both Zambians and investors.  Re-align the  effective tax regime in the mining sector to internationally comparable and relevant levels in particular mineral royalty, corporate tax etc. while paying particular attention to the need for continued commercial viability  and sustainability of mine operations. This, together with the targeted economic growth and other revenue measures, would help generate the necessary revenue to finance the intended and responsible investments in various areas including the social sectors of education, health, clean water supply, sanitation, infrastructure, etc.

 

 

Michael Sata on Economy-  

 

THE WAY FORWARD FOR ZAMBIA – Man of action and result

 

Note:  Mr. Sata’s website has no structured outline on issues. Our team will pick in his outline what we think relates to economy at this point. You can tell the difference yourselves by clicking on his site. Below is exactly how his campaign created the site. All issues typed in capital letters.

 

http://www.michaelsata.co.zm/massage_from_pres.htm

 

POVERTY AND INEQUALITY

THE INCOME DISPARITIES IN OUR COUNTRY ARE ALSO ALARMING. BOLD STEPS ARE THEREFORE NEEDED TO ARREST THE SITUATION, BECAUSE EXCESSIVE INEQUALITY IS A TIME BOMB FOR THE LONG-TERM STABILITY OF OUR COUNTRY. POOR PEOPLE IN URBAN AREAS LIVE IN UNSANITARY CONDITIONS, WITHOUT CLEAN WATER AND PROPER SANITATION. THEIR TRANSPORT COST TO WORK OR SENDING CHILDREN TO SCHOOL AND HEALTH FACILITIES TAKES A SEVERE TOLL ON THEIR MEAGER INCOMES. FURTHERMORE, ZAMBIA IS A COUNTRY OF VERY LOW WAGES, BUT VERY HIGH LIVING COSTS. ALL THE BASIC NEEDS AND SERVICES, INCLUDING FOOD AND TRANSPORT ARE EXPENSIVE. LOW EARNINGS MEAN LOW PURCHASING POWER. THIS ACCOUNTS FOR ZAMBIA’S FAILURE TO REDUCE POVERTY OVER THE LAST 10 YEARS. FAILURE TO REDUCE POVERTY IN A COUNTRY WITH VAST RESOURCES IS TOTALLY UNACCEPTABLE. GOVERNMENT’S FAILURE TO REDUCE POVERTY IS A CLEAR INDICATION THAT IT HAD ITS PRIORITIES WRONG. WE MUST THEREFORE GET OUR ACT TOGETHER TO GET OUR PEOPLE OUT OF GRINDING POVERTY.

 

 

THE PATRIOTIC FRONT BELIEVES THAT, THE ROLE OF LEADERSHIP IS TO PROVIDE GUIDANCE BY EXAMPLE. BUILDING A SUCCESSFUL AND PROSPEROUS NATION REQUIRES SACRIFICE BY ALL. THIS PLACES A BURDENSOME RESPONSIBILITY ON THOSE WHO HAVE A CLAIM TO LEADERSHIP TO SET A GOOD EXAMPLE. THERE CAN BE NO MORAL JUSTIFICATION TO ASK PEOPLE WHO ALREADY HAVE NOTHING TO INCUR MORE PAINFUL SACRIFICES, WHILE THOSE IN THE LEADERSHIP WHO AT LEAST HAVE SOMETHING WIDEN THE FRONTIERS OF PRIVILEGE. IT IS IN THIS CONTEXT THAT THE PATRIOTIC FRONT HAS COME OUT STRONGLY ON THE PROPOSED HUGE SALARY BENEFITS FOR MINISTERS.

WE BELIEVE THAT THE COUNTRY’S TAX STRUCTURE SHOULD REFLECT A STRONG COMMITMENT TO SOCIAL EQUITY. THERE MUST BE MEANINGFUL CONCESSIONS TO THOSE IN THE LOWER INCOME BRACKET SO THAT THE GROSS INCOME IMBALANCES ARE REDUCED, WHILE AT THE SAME TIME RAISING THE PURCHASING POWER OF MANY WORKERS. HIGH PERSONAL INCOMES ARE A SURE WAY OF GROWING THE ECONOMY. OUR GOVERNMENTS PAST AND PRESENT, APART FROM BEING THE WORST EMPLOYERS IN TERMS OF CONDITIONS OF SERVICE, HAVE ALSO BEEN INDIFFERENT TO THE PLIGHT OF WORKERS IN THE PRIVATE SECTOR. IN PARTICULAR, ALL OUR PREVIOUS GOVERNMENTS WITHOUT EXCEPTION HAVE ALLOWED EVEN THE RICHEST COMPANIES TO PAY ZAMBIANS SLAVE WAGES. IT IS NOT THE ROLE OF GOVERNMENT TO DETERMINE EARNINGS IN THE PRIVATE SECTOR, BUT THROUGH DIALOGUE GOVERNMENT CAN HELP WORKERS LEVERAGE MORE REASONABLE WORKING CONDITIONS. A PF LED GOVERNMENT WOULD THEREFORE REVIEW THE TAXATION POLICY AND ENSURE THAT, WHILE OPTIMISING REVENUE TO GOVERNMENT A DISENABLING ENVIRONMENT IS NOT CREATED IN THE PROCESS.