The Social Network That Gets Down to Business

 Joanna Wiseberg began Red Scarf Equestrian, which makes stylish handbags and other luxury goods for horse lovers, two years ago, just as the economy plunged into recession.

Nevertheless, Ms. Wiseberg was soon meeting people who invited her to showcase her goods at elite places like the Cannes Film Festiva;, the Monaco Grand Prix and a luxury goods conference in China. Now, she said, Red Scarf Equestrian, based in Toronto, is poised to take off.

“My business is a niche within a niche, and I opened at the worst possible time,” Ms. Wiseberg said. “You try and push a ball uphill.”

Her tool was LinkedIn, the social network for business professionals that is often perceived as a workaday cousin to the social butterfly of Facebook. But as Ms. Wiseberg discovered, LinkedIn is actually more than just a place for job seekers to post a résumé. “I wouldn’t be here without LinkedIn,” she said.

For any company in the social networking business, it is not easy living in the shadow of Facebook and Twitter. With 500 million users connecting with friends, trading photos, videos and articles, or whiling the time away on social games, Facebook has pretty much locked up the field. For its part, Twitter has carved a solid niche for those interested in broadcasting their thoughts 140 characters at a time.

But with its unabashed utilitarian bent, LinkedIn has built a presence in social media. Anyone with a career, a business or ambitions to climb the corporate ladder can network with 75 million people who use it, in large part, to find jobs or to recruit candidates for jobs.

But in the last year or so, LinkedIn has been offering plenty of information and tools that can help its users, whether they work for themselves or at a company, to conduct research, find new customers and expand their business contacts and prospects. Much of it remains free, though some advanced features require a subscription of $25, $50 or $100.

For the LinkedIn novice, the first step is to create a profile, which is much like putting together a résumé listing education, professional experience and skills. But the online profile is different from a printed résumé.

For example, putting more content, rather than less, will make your profile more likely to come up in searches. That means listing not just major positions you’ve had, but also minor internships and summer jobs. And it means listing all the skills you have. Change the privacy settings to be as open as possible; if you are looking for work, you want strangers to find you.

Next, it is good to have other people vouch for you. You ask people you know to write brief recommendations that also appear in your profile. A little logrolling never hurts. Recommend people you know as they may be more inclined to return the favor.

Then network as if LinkedIn were a big industry trade show. Search for people you know and invite them to be part of your network. Regular users of LinkedIn say a common mistake that newcomers make is to limit their network. So how many is enough?

There are no absolutes, but Krista Canfield, a LinkedIn spokeswoman, says that 35 connections appears to be the minimum to make the viral properties of social networks truly useful. (As in any network, you don’t want to include people who could drag down your reputation. LinkedIn lets you deflect unwanted invitations with the Archive button so no one knows they have been rejected by you.)

Once you’ve gone this far, it is easy to look for jobs using the company’s search tools. But there are plenty of other ways to use it to help your job search or other business aspirations.

Perhaps the most useful places to look are the million or so company pages LinkedIn has compiled. The pages will reveal the names of people who were recently hired or left the company, as well as those who have changed positions within the company.

Not only will you be able to pinpoint the right person, you will be able to see all the people who are in your network — your direct connections and their connections — who are somehow affiliated with that right person inside a company. I thought I hardly knew anyone at Oracle, for example, and found that 245 people in my network either work there now or have worked there in the past — all potentially useful contacts if I were looking for a job there.(New York Times)

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Hints Of Change In The World Monetary System

Ever since its inception 66 years ago, the International Monetary Fund has fancied itself at the center of the global economy.


But only now does the prospect of a multilateral monetary authority providing stability to the international financial system seem even remotely possible. That's because for the first time in decades there are legitimate uncertainties surrounding the one institution that does play that role: the U.S. dollar.
In that context, a couple of recent IMF-related announcements are more important than they normally would be.

On Monday, the IMF said it would dramatically increase lending to a wide array of developing countries through a new "precautionary credit line" under which they would pre-qualify for loans to be drawn upon in a crisis.

Then on Tuesday, South Korea, which will host the Group of 20 nations summit in November, said it would no longer keep its proposal for a global system of currency swaps on the agenda of that meeting. Instead, it would seek a new role for the IMF for containing global financial turmoil--in effect, endorsing the IMF's alternative plan for a "global stabilization mechanism," which would be available to groups of countries.

Whether there is support from either the developing world or the G-20 for these two ideas remains to be seen. There is still a stigma associated with borrowing from the IMF, as much as the Fund is trying to break it down. And the U.S., the only country with veto power on the IMF board, might resist reforms that could in some way weaken the power-broking influence that the current system affords it whenever crises erupt.

But the balance of power in the global economy is shifting, with Emerging Asia growing at almost double-digit rates while the economies of the U.S. and Europe are mired in post-crisis debt. The fact that these proposals are coming forward is an indication that many nations are wary about depending on the U.S. when its own outlook is so weak.

For now, demand for the dollar as a reserve currency is hardly waning. This year's record-breaking bull run in U.S. Treasurys is evidence of that.

But China is shifting some of its $2.4 trillion in reserves into Japanese yen and Korean won, which in part explains the recent runup in those currencies. And whereas the Federal Reserve's currency swap agreements with other central banks played a critical role in boosting global dollar liquidity during the 2008 financial crisis, these have since been complemented by bilateral and multilateral swap agreements in which the U.S. does not figure.

Most important is the Chiang Mai Initiative, launched in March by the 10 members of the Association of Southeast Asian Nations plus China, Japan and South Korea. That program draws upon a pool of $120 billion in foreign reserves to back a multilateral system of currency swaps that can be triggered if a member faces a currency crisis.

South Korea had wanted to use the Chiang Mai Initiative as a template for a global currency swap agreement. But on Tuesday, Seoul's Presidential Committee for the G-20 Summit said "the majority views (among the G-20) are that such an idea could infringe upon the sovereignty of central banks."
Presumably, the Fed and the European Central Bank are uncomfortable committing to accept certain currencies of potentially dubious value. Ironically, however, the interest in multilateral solutions is greatly dictated by other countries' concerns about the dollar.

In this sense, an expanded IMF stabilization fund--one that's not just geared toward developing nations but toward protecting the whole world from financial turmoil--offers a compromise.

Were it to take off, the IMF could evolve into a true international lender of last resort. And giving a multilateral body like the IMF more power at the expense of the U.S. would surely be preferable to having another, potentially less benign superpower simply takeover the reins.

The dollar is still king. But times are changing. It's in everybody's interest to design an international framework before the next big crisis erupts.(Wall Street Journal)










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India: The new land of opportunities

 

“It’s an exciting time to be in India and do this kind of work,” says the environment policy and political science graduate from Yale University, in the US. She works on international climate change policy, US-India relations and much more. In 2008, the 22-year-old attended an on-campus lecture by Teri director general RK Pachauri, and decided to work in India. A US citizen, she landed in Delhi the same year with a two-year contract, and has been here since.

That was also the year, when Polish national Kataryzna, 25, arrived for an internship with Delhi-based Bird Group, a diversified conglomerate working in travel and technology. With a master’s in international business from Warsaw University, Kataryzna helped Bird Information Systems (BIS), a group subsidiary, foray into Latin America and Russia within a year, selling airline inventory and reservation system solutions. “I speak Russian, Polish, French and Spanish, so it worked out for me,” she says, having snagged the job after just a year of internship. She travelled to and from Europe — a market she was familiar with — and added substantially to the client list, enabling the first-ever international division within the company.

The company has now recruited two more interns from Peru and Russia, to focus on the new markets. “A local understands the market dynamics better,” says Kataryzna, who is now project leader for corporate and strategic alliance, IT systems, for BIS’ international markets. And loves it in India.

Holden and Kataryzna are part of a growing number of expatriates who come to India to intern or look for jobs, and stay back because of better opportunities.

Teri has seen the number of its expat interns jump from 13 in 2008, to 24 in 2009 and possibly they will have 26 this year. Students from some of the best colleges across the globe — Cambridge in the UK, the Ivy League in America — have been coming here to work in climate change and sustainable development. “These are hot issues today, globally. Job options for professionals from this field are increasing, and so is interest among students,” says Geetika Sharma, senior manager, HR, at Teri.

IT education company Educomp has seen 40 interns in the past two years, from countries as varied as the UK and the US, to Sri Lanka and Poland, wanting to work in an ‘emerging economy’. “The trend indicates that interest among young foreigners is only growing,” says Educomp senior VP (HR & administration) Venkatesh MS. A senior home ministry official adds: “The number of expats, including freshers, coming for work here in 2008-09 went up by 15% over the previous years.”

The International Association of Students in Economics and Business Management (AIESEC), the world’s largest youth organisation that conducts student exchange across the globe, too, has evidence for this. The number of exchanges went from 1,015 in 2007, to 1,713 in the first six months of 2010. Of this, 1,443 are expats. “Earlier, it was only the social sector that attracted foreigners. Post recession, corporate India is getting more attention,” says Preetika Rana, VP, communication, AIESEC. (Economic Times / 9 Aug 2010, 0505 hrs IST,Shreya Biswas,ET Bureau)

 no.4* 08.09.10








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RP investment promotion

Promoting U.S. Investment in R.P.

Manila Bulletin / Aug 3, 2010

Trade and Industry Secretary Gregory L. Domingo met with United States Ambassador Harry K. Thomas at the Board of Investments on July 29, 2010, to discuss more US investments and Philippine export. The Secretary outlined key initiatives of the Department on improving the country’s business environment, engaging with more partners in trade agreements, protecting consumers, and assisting viable SMEs.

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New BoI chief sets aggressive sales, marketing campaigns for investments
By BERNIE CAHILES-MAGKILAT

Manila Bulletin / August 3, 2010, 5:08pm

The Board of Investments (BoI) will embark on aggressive sales and marketing campaigns starting with the US and Japan this year to attract more foreign investors, particularly in the business process outsourcing and light industries sectors.

This was bared by newly installed DTI undersecretary for trade and investments Cristino L. Panlilio to reporters while on his way to his oath-taking ceremony in Malacañang on Tuesday.

The BoI is the government’s premier investment promotion agency. It administers the Investment Priorities Plan (IPP), an annual list of preferred economic areas that would be entitled to government incentive package such as income tax holiday, preferential duty on the importation of capital equipment, additional tax deduction on labor and training expenses, employment of foreign nationals, among others.

According to Panlilio, the first investment campaign salvo by the new administration would be in the U.S. in September this year in time for President Aquino’s visit to Washington.

 No. 3*08/04/10

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Inside Asia

I.M.F. Turns on the Charm in Asia

By ALAN WHEATLEY New York Times / Published: July 19, 2010

BEIJING — That warm glow and soft purring emanating from South Korea was the International Monetary Fund trying, yet again, to put the Asian financial crisis behind it. The I.M.F. needs Asia on its side. As the fastest-growing part of the world economy, the region will wield increasing clout at global institutions like the I.M.F. and provide more of their financing.

The problem, to put it bluntly, is that Asia does not need the I.M.F. — or even like the I.M.F., whose invasive policy prescriptions are blamed in the region for having exacerbated the 1997-1998 meltdown. 

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 With Asian Industry Astir, More Job-Seekers Go East

By Bettina Wassener New York Times / Published: July 27, 2010  

HONG KONG — Before the global financial crisis, many in the west had not thought seriously about moving to Asia. But growth in China, India, South Korea and many other countries in the region is outpacing that of Europe and the United States. Many local companies are enjoying rapid expansion, while international employers are shifting positions to Asia and are hiring again. So increasingly, European and American job seekers are hoping that Asia is a place where opportunities match their ambitions.

Sharing knowledge is power :)  ____________________ No.2 * 08.04.10

Materials R & D at Sandugo Trade Expo 2010

One of the country’s longest running annual provincial trade fairs unrolled the first output of the Materials Research and Development Project on July 21-25 at the Island City Mall.

Sandugo Trade Expo 2010 not just highlighted the region’s unique products and services but also made use of local ingenuity. Spotlight was shown on locally made crafts using mixed media and new design patterns, a result of the Materials R&D Project which assists raffia weavers in Bohol.



By mixed media applications, the weavers have experimented with recycled materials, buri, abaca, old plastic twine mixed together with raffia and other indigenous materials.


From these hand-wovens, select exporter companies convert them into actual products.

Around 80 exhibitors from the tourism, food, fashion accessories, crafts, Gifts, Toys and Housewares in Central Visayas participated in the Sandugo Trade Expo.

The fair also featured a raw materials gallery to afford buyers and product designers with a plethora of materials to use.

Emerging tourist destinations in the region were likewise showcased with packaged tours that were readily available at the booths.

As in the past, there were guest exhibitors from other regions during the Sandugo trade fair. 

The Sandugo Trade Expo is a culmination of a series of product development initiatives geared towards improving the quality and design of the export oriented crafts and ethnic food in the region. 

Bohol’s annual Sandugo trade expo has been running every July for the last twenty one years.  This fair is one of the longest running annual provincial trade fair in the country and it has already established name recall and recognition among local and international buyers.
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No. 1 * 08.04.10