Financial & Economic Blog

We’ve flagged our conference last week on financing Europe’s energy needs shamelessly on this blog in recent days and weeks. You’ll be happy to know, no more. This is the last reference to it we shall make. Just to note for the 150 souls that didn’t make it off the waiting list to gain entrance, many of the principal speakers agreed kindly to repeat some of their main points to camera post their conference interventions.

You can find everyone from Sharon Bowles MEP to Philip Lowe of DG Energy speaking on energy, climate and Europe here.

A highlight was hearing Dr. Fatih Birol from the IEA contrast the good that could come from Europe reasserting its leadership role on climate while warning Europe about the impact such leadership could have on European competitiveness. Jos Delbeke from the Commission perhaps unsurprisingly argued for a renewal of EU leadership in the field. Today’s Commission work programme suggests he may well win out.

James

     Korea has one of the lowest birthrates among industrialized nations. Thus the Korean government continued to devote all its energy to achieving its performance objectives. But coping with the increasing aging trend is as important as coping with the low birthrates. The progress speed to aging society of Korea is faster than that of the developed countries, which is result from the rapidly decline of birthrates and prolongation of the average span of life. Unless there is a dramatic turnaround, the nation`s senior population is expected to place an increasing strain on state spending over the coming years.

International Comparison of aging society

     The demand of financial services about long-term saving and pensions will increase steeply because of going retirement age of baby boom generation. Whereas the financial services of Korea for aging society are insufficient to meet the rapidly increasing demands. The expansion of financial services is needed to manage the pension assets over the long period by enlargement of pension’s demand. And promoting industrial markets is also needed to cope with the increasing demand about health, nursing, and medical services owing to aging society. Asset management and systematic, customized financial services providing the aging society should be enlarged and the social awareness about this should be widespread.

     Elderly people tend to have irregular incomes and most of them live on their monthly pension. The amount of pension is not sufficient to cover their living cost. Thus to manage the asset accumulation, the financial services providing aging society should be managed by some ways such as diversification and foreign investment. To meet this goal, it is essential to create an atmosphere for financial companies to make the financial products about aging society actively.

     And sales channels should be advanced to the level of the developed countries for customers to approach the aging financial goods easily. The government should intense security system for investors and contractors since the customers are generally too old to cope with irregular situation. If they are once damaged by an illegal act such as incomplete sales, then it will lead to the failure of preparing their later years. It is better way to prepare one’s later years in his early ages than in old ages. The government should manage and expand financial education program systemically. By doing this, the aged will raise their awareness about aging risk and expand their ability of selecting financial products.

During a work visit to Tunisia, Mr. Stefan Fule, the Commissioner in charge of Enlargement and European Neighborhood Policy met with Mr. Nouri Jouini on Tuesday during which a National Memorandum of Understanding (MOU) between Tunisia and the European Union was signed.

The program which involves a budget of 240 million Euros (450 million dinars) for the technical and financial cooperation between Tunisia and the European Union covers a number of strategic sectors, including employment, higher education graduates, as well as economic integration and competitiveness.

Following the signing of the MOU, Mr. Jouini reiterated Tunisia’s commitment to expand its cooperation with the EU, as well as the necessity to take advantage of existing opportunities particularly in scientific research, technological innovation, culture, youth , trade and investment…read more

If you need to  transfer  currency home to kin  in the Russian Federation, you are not alone, which is why there are  tons of ways to do so. Before you send  anything,  it is important to make sure that you select the  best method for you and your relative. The prepaid   debit card is one of the most common routes lately to  send  funds anywhere, but you should ensure that your  recipient  can use it before you transfer money to Russian Federation using  one. This should involve making sure that there are several ATMs  within a short distance to your relative’s  house.

According to several sources, ATMs are quite widespread in this  country,  but mostly in the major cities. It is very   easy to find cash machines in major cities like Moscow  and St. Petersburg, but smaller cities like Pushkin and Yurga  might have few, if any. Either way, it should be known  that stand alone ATMs are usually advised  to be avoided in Russian Federation. Your recipient should  instead opt for those attached to banks, since they are  recognized for being safer. Credit and debit card fraud is a  common danger in this country, so anything your  recipient can do to feel safer is smart.

If your relative is having trouble finding an ATM in a  major  city, they should head to the closest large hotel since those  usually  have at least one. Nearly every ATM in this area  takes Visa and MasterCard debit cards, which is something  to think about before you transfer money to Russian Federation  using  one. If possible, make sure the debit card you select is one  of these kinds, as American Express and Discover are not as  widely accepted. Your relative will get  the Russian currency of rubles, no matter what ATM they use.

Lots of  people like to use a debit card to buy  objects  rather than get cash out. Your relative can do so  when  you transfer money to Russian Federation using a prepaid debit   card. However, they should know that not every  retailer  takes cards. The majority of retailers in Moscow  and St. Petersburg do take cards, but shopping outside such  cities can be risky since many smaller shops do  not accept them. In that case, your relative should  have some cash at all times, or at least call ahead  to make sure the shop accepts cards.

Sending   funds to your kin  is a nice thing to do, but it will be particularly appreciated if it  is in the form that your family can  easily use. A prepaid debit card can be used in almost any  area, but in some areas, it is more easily used  than others. Luckily, in Russian Federation, cards are  expected in the larger areas, meaning that your  recipient  will likely appreciate receiving this kind  of card.