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Showing posts from March, 2017

85% of People Living in Atolls Drink Unsafe/Untreated Water

According to the 2014 Census, 85% of the people living in the atolls drink unsafe/untreated water. Even though 100% households in the capital Male' are provided with treated piped water, the islanders depend on rainwater. In addition to the main source of drinking water, there are many other socioeconomic indicators that show the Regional Disparity in the Maldives. Regional disparity means unbalanced spatial structures in some region or in different regions. Regional disparities are manifested in different conditions of life as well as in unequal economic and development potential. A good example of spatial disparity is the contrast between urban and rural areas.

Review 2016: US Trade Balance was $740 Billion in Deficit While China had $532 Billion in Surplus

The trade balance, also known as the balance of trade (BOT), is the calculation of a country's exports minus its imports. When a country imports more than it exports, the resulting negative number is called a trade deficit. When the opposite is true, a country has a trade surplus. Statistics for 2016 show that US Trade Balance was $740 Billion in Deficit While China had $532 Billion in Surplus. 

Keynes: Government confiscate an important part of the wealth of their citizens

Adam Smith: Your Labour is the Original Price that You Pay

Keynes: The political problem of mankind is to combine three things

Island Profile: GA Kolamaafushi

Kolamaafushi is one of the remotest islands in the Huvadhoo Atoll Uthuruburi (GA), being about 20 kilometres away from the closest inhabited island. The island is connected to the nearby Kolaa island by a narrow causeway. Geographic Location: Comparative Land Area (GA Atoll Islands): Resident Local Population: Literacy Rate (15-24 yo): Sex Ratio (Females Per 100 Males): Marital Status: Posted by EconoMaldives on  Saturday, March 18, 2017

Time to Admit that Our Institutional Approach to Social Justice Has Miserably Failed

What did you observe in the last 02 decades? An institutional approach towards the democratisation of the society has never given any fruit but divisions, instability and political turmoil. None of our political parties are ready to seek alternative solutions.  A new constitution and new sets of laws, separation of powers, establishment of independent institutions and introduction of multi-party system do not make the public better off.  Our political parties and politicians are not aware of the factors responsible for the failure of the system. If they know, they are not ready to accept them.  True. We have brought necessary institutional changes. We trust human beings. We trusted our people in responsible positions. But, we forgot that human beings by nature are corrupted by their greed. Laws are meant to break, either by hook or by crook. You are doing it. They are doing it. Just for one reason.  You are NOT economically independent.  Lack of economic in

Keynes: Level of thirst for wealth brings about changes in the code of morals

Market Economy

Market Economic System is an arrangement where all the economic questions are answered by the price mechanism. Examples include; USA , Hong Kong , South Korea etc . Market Economy is also known by the following names; ·          Market Mechanism In the Market Economy the basic decisions about the allocation of resources are determined by the market forces of demand and supply. ·          Free Enterprise Economy In the Market Economy economic activities are free from government controls. ·          Capitalist Economy Market Economy is so-called due to the rights of ownership and control of resources possessed by individuals. ·          Laissez Fair Economy. Features of Market Economy 1.     Private Property Right In a market economy, individuals have the right to own and dispose of real assets. They also have the right to get income from those properties in the form of rent, interest and profit. 2.     Freedom of Choice In a Free Market Economy;

Housing Affordability 2017: The 10 Most Expensive Cities To Live In

Based on the international surveys and observations with regard to the cost of housing and affordability, these 10 cities are found to be the most expensive cities to live in. Hong Kong City, Hong Kong (China) Male', Maldives Sydney, Australia Vancouver, British Columbia Aukland, New Zealand San Jose, USA Melbourne, Australia Honolulu, Hawaii Los Angeles, USA San Fransisco, USA 

Kim Kardashian is Good at Statistics Too

Reality television star Kim Kardashian has tweeted a statistics chart which shows the number of Americans killed annually by immigrants. The chart shows that 02 Americans were killed by jihadist immigrants as compared to 11,737 Americans killed on 'Being shot by another American'.  Statistics — Kim Kardashian West (@KimKardashian) January 29, 2017 Earlier, US President Donald Trump banned visitors to USA from seven Muslim-majority nations.

US Carried Out More Than One Half of World Nuclear Tests

Statistics on the number of nuclear tests carried out by individual countries show that the United States of America carried out more than one half of all the nuclear tests carried out in the world. 1. US: 1,032 2. Russia: 715  3. France: 210  4. UK: 45  5. North Korea: 4  6. India: 3  7. Pakistan: 2 8. Israel: NA

Why the Right is Right?

Meet the Wealthiest 10 People in the World

List of Richest 10 People in the World: 1. Bill Gates Net Worth: $75 B Source of wealth: Microsoft 2. Amancio Ortega Net Worth: $67 B Source of wealth: Zara 3. Warren Buffett Net Worth: $60.8 B Source of wealth: Berkshire Hathaway 4. Carlos Slim Helu Net Worth: $50 B Source of wealth: telecom 5. Jeff Bezos Net Worth: $45.2 B Source of wealth: 6. Mark Zuckerberg Net Worth: $44.6 B Source of wealth: Facebook 7. Larry Ellison Net Worth: $43.6 B Source of wealth: Oracle 8. Michael Bloomberg Net Worth: $40 B Source of wealth: Bloomberg LP 9. Charles Koch Net Worth: $39.6 B Source of wealth: diversified 10. David Koch Net Worth: $39.6 B Source of wealth: diversified

Majority Parents of Lower Secondary Students in Male' Schools are Tenants

According to the latest statistics, there are 22,194 students studying in Male'. Among them, 8,504 students are non-Male' students and 208 students are foreign students.  At Lower Secondary Level (Grade 8, 9 and 10), majority of the students are from Atolls. 

Five of the Ten Largest Islands in Maldives are in the North

Growth of Maldives Annual GDP Per Capita Under Different Presidents

According to the World Bank statistics on GDP per Capita of individual countries, Maldives has shown significant improvement in the growth of its annual GDP per Capita. Statistics show that: Annual GDP per Capita increased, on average, by US$ 198 (MVR 3050 ) during the 30 year of President Maumoon Abdul Gayoom 's presidency.     President Mohamed Nasheed 's 3 years in power had contributed, on average, US$ 223 (MVR 3439 ) per annum. Under Mohamed Waheed Hassan Manik 's 2 years of ruling, first year (2012) was almost stationary but significant spending for 2013 election led to growth of GDP per Capita, on average, by US$ 307 (MVR 4734 ) under his rule. Under President Abdulla Yameen , the annual GDP per Capita had increased, on average, by US$ 615 (MVR 9483 ) per year. 

07 Ways to Make Your FuraMale Apartment Feel Like Home

According the recent statistics, Male' population is 62,000 people but there are more than 150,000 people living in FuraMale. It basically means that 2/3 of FuraMale residents are living in rented apartments and we do not have to tell anything about the rent because the tenants know it better. 1. Clean it In a perfect world, your landlord or the previous tenant will make sure it’s sparkling, but we all know it’s not a perfect world. So be ready to do a little dusting. 2. Get the bathroom setup Nothing says “new apartment” like a curtain-less shower, so hang one up ASAP. Then stock the bathroom with towels, a bath mat, hand soap, body wash, and toilet paper. 3. Plug in a few lamps / lights Because overhead lighting rarely sets the right mood. 4. Get your Internet setup Is there anything that makes you feel more relieved once you’ve moved into a new place? No. No, there is not. 5. Go to the nearest grocery store and get the essentials Having staples like ketc

Private Limited Companies

Features v   Must use the word “Limited” or “Ltd” after its name v   Can not invite the general public to buy its shares and debentures v   Must have a minimum of two shareholders v   Can have one or more directors v   Can not transfer its shares freely v   Need not to have trading certificate Advantages v   Shareholders have limited liability v   There is no limit on the maximum number of shareholders v   Death of a shareholder does not effect the life of the company v   Need not to get trading certificate to commence business v   It can have a minimum of one director Disadvantages v   It can not invite the general public to buy its shares and debentures v   Shares can not be transferred freely v   Relatively lower capital

President Erdoğan Has Significantly Reduced Turkey's Gross Debt

Recep Tayyip Erdoğan is a Turkish politician who has been the President of Turkey since 2014. He previously served as the Prime Minister of Turkey from 2003 to 2014 and as the Mayor of Istanbul from 1994 to 1998. Statistics show that Erdoğan has significantly reduced the Turkey's Gross Debt since he came to Power in 2003.  Unlike Turkey, most of the economic powers are struggling with growing national debt.  G20 Countries with Highest Government Debt, as a Percentage of GDP: Japan: 230%  Italy: 132%  US: 103%  Spain: 98%  France: 95%  UK: 89%  Canada: 86%  Germany: 75%

L. Gan Itself is Bigger Than the Combined Total Land Area of All Islands in Each of These 12 Atolls

Note: Male' is not included in calculating land area for Kaafu Atoll. Only inhabited islands are counted for the purpose of calculation.

Island Profile: AA Rasdhoo

Rasdhoo is an inhabited island of the Maldives. It is also the capital of the Alif Alif Atoll administrative division. As of September 2016 Rasdhoo island boasts 16 guesthouses. There is public ferry from Male' on Sunday, Tuesday, Thursday that thakes 3 hours. Geographic Location: Comparative Island Size (AA Atoll Islands): Resident Population: Literacy Rate (15-24 yo): Sex Ratio (Females Per 100 Males): Marital Status: Posted by EconoMaldives on  Wednesday, March 8, 2017

Joint Stock Companies

Definition A Joint Stock Company is an association of people who contribute towards a joint stock of capital for the purpose of carrying on business with the view to profit. The stock of capital is divided into many small units called shares. People who buy these shares are known as shareholders. The company is legally owned by shareholders. They elect a board of directors to manage the business. The total profit is then distributed to all shareholders. Each part of profits paid to shareholders is called dividend. Limited Liability A shareholder’s liability for the debts of a joint stock company is strictly limited to the value of the shares he has agreed to buy. Once shareholders have fully paid for the shares, they have no further liability for the company’s debts. Features of Joint Stock Companies v   It has a separate legal existence from its shareholders v   Shareholders are the owners of the company v   Company is managed by board of directors v   Shareho

Debt Crisis

Functions of Central Bank

Central Bank  Each country has a central bank. It is the leading bank generally responsible for overseeing the banking system acting as a clearing banker for the commercial banks and for implementing monetary policy. In addition, many central banks are responsible for handling the government’s budgetary accounts and for managing the country’s external monetary affairs, in particular the exchange rate.  Functions of Central Bank  1. It is the government’s bank  It receives government’s income from taxation and makes necessary payments on behalf of the government.  2. It is the banker’s bank  Commercial banks keep accounts at the central bank and use them to settle debts between themselves.  3. It manages the national economy  It influences the rate of interest and the amount of bank lending to achieve the objectives of the government.  4. It is the sole note issuing authority  In the UK Bank of England issues notes and its satellite Royal Mint issu