Dec 19, 2011

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Fast and Expensive Car "Koenigsegg Agera R"

  • Dec 19, 2011
  • Koenigsegg Agera R is a hometown supercar in Sweden, it recently took some serious bragging rights for the Agera R when it claimed to have set a few high-speed records, further cementing the supercar’s status as the Bugatti Veyron Super Sport’s biggest rival. According to the Swedish automaker, the Agera R managed to clock 0-186 mph in just 14.53 seconds, 0-200 mph in just 17.68 seconds, 200-0 mph in 7.28 seconds, and 186-0 mph in just 14.53 seconds. The records have yet to be verified, but if they prove to be legitimate, it’s only a matter of time before Koenigsegg slams Bugatti’s record. Check out videos of the Agera R’s record attempts after the jump.

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    World's Most Expensive Cars 2011-2012

  • Bugatti Veyron: Most Expensive Car in The World1. Bugatti Veyron Super Sports $2,400,000. This is by far the most expensive street legal car available on the market today (the base Veyron costs $1,700,000). It is the fastest accelerating car reaching 0-60 in 2.5 seconds. It is also the fastest street legal car when tested again on July 10, 2010 with the 2010 Super Sport Version reaching a top speed of 267 mph. When competing against the Bugatti Veyron, you better be prepared!

     
    2. Pagani Zonda Clinque Roadster $1,850,000. One of the most exotic cars out there is one of the most expensive. It can go from 0-60 in 3.4 seconds with a top speed of 217 mph.

     





    3. Koenigsegg Agera R $1,600,000. Koenigsegg recently took some serious bragging rights for the Agera R when it claimed to have set a few high-speed records, further cementing the supercar’s status as the Bugatti Veyron Super Sport’s biggest rival. According to the Swedish automaker, the Agera R managed to clock 0-186 mph in just 14.53 seconds, 0-200 mph in just 17.68 seconds, 200-0 mph in 7.28 seconds, and 186-0 mph in just 14.53 seconds. The records have yet to be verified, but if they prove to be legitimate, it’s only a matter of time before Koenigsegg slams Bugatti’s record. Check out videos of the Agera R’s record attempts after the jump.

    Saleen S7 Twin Turbo white4. Saleen S7 Twin Turbo $555,000. The first true American production certified supercar, this cowboy is also rank 4th for the fastest car in the world. It has a top speed of 248 mph+ and it can reach 0-60 in 3.2 seconds. If you are a true American patriot, you can be proud to show off this car.





    Koenigsegg CCX side view5. Koenigsegg CCX $545,568. Swedish made, the Koenigsegg is fighting hard to become the fastest car in the world. Currently, it is the 5th fastest car in the world with a top speed of 245 mph+, the car manufacture Koenigsegg has just released the Koenigsegg Agera R to compete against the Bugatti Veyron. The company is a tough contender and will continue to try and produce the fastest car in the world. Good luck with that!



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    Who Benefits from Rural Road Projects in the Long Run?


  • Infrastructure investments like rural roads are generally for the long haul. But it's difficult for researchers to measure their long-term impact, as it can be confounded by changes in outside factors that cannot be observed but affect road development and other outcomes, such as shifts in local political influence and household norms. In a new working paper, Shahidur Khandker and Gayatri Koolwal address this issue in evaluating and comparing the short-term and long-term effects of a road-paving project in rural Bangladesh over eight years. A dynamic panel model, based on household survey data collected under the project, accounts for time-varying unobserved characteristics. It shows the project improved per capita expenditure, schooling, and transport prices in the short term, but the benefits wore off over time. The benefits of rural roads also vary across sectors and the distribution of households. Employment in the rural non-farm sector, for example, rose faster over time, indicating increasing returns to road investment. Gains for middle-income groups strengthened as their employment shifted toward the non-farm sector. But the very poor failed to sustain the short-term benefits of public roads. The results also show that the evolution of benefits depends on initial community and household characteristics, as well as road quality.
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    Has the Global Banking System Become More Fragile Over Time?


  • Over the past two decades, globalization, deregulation, and financial innovations have led to significant growth of financial institutions around the world. These trends have lowered borrowing costs, improved risk diversification, and increased capital flows and productivity. But the same trends also brought those institutions closer and increased their exposure to common sources of risk. In a new working paper, Deniz Anginer and Asli Demirguc-Kunt show a significant increase in default risk co-dependence leading up to the 2008 global financial crisis. The results also suggest higher co-dependence in the banking sector of countries with more integrated or liberalized financial systems and weak banking supervision. The results lend support to more international supervisory cooperation, as well as capital charges for "too-connected-to-fail" institutions that can impose significant banking externalities. The authors reach these conclusions by examining how the correlation structure of default risk evolved for more than 1,800 banks in more than 60 countries.
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    Why Don't Developing Countries Borrow in Their Own Currency from Abroad?


  • Most emerging markets do not often borrow in their own currency internationally, even though doing so could provide an attractive insurance mechanism. This phenomenon, commonly labeled as "the original sin" in international finance, has mostly been interpreted as evidence of the inability of developing countries to borrow in their domestic currency from abroad. A new working paper by Julien Bengui and Ha Nguyen provides a novel explanation for that phenomenon: It's not that they can't borrow this way, but they might not need to. That's because domestic and foreign lenders have different consumption baskets, the authors say. Domestic lenders largely keep their consumption basket in domestic currency, but all foreign lenders keep theirs in dollars. A depreciation of domestic currency, which tends to occur in bad times, is therefore less harmful to domestic savers than to foreign investors. It's not surprising that domestic lenders require a lower premium than foreign lenders do on domestic currency debt. For plausible calibrations, this consumption-basket effect can induce foreign investors to pull out of the domestic currency debt market.
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    Nov 3, 2011

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    Trade Liberalization Can Help Empower Women

  • Nov 3, 2011
  • Gender equality is a source of comparative advantage when a country integrates into the world market, according to a new working paper by Quy-Toan Do, Andrei A. Levchenko and Claudio Raddatz. For example, industries relying more on female labor expand more in countries that empower women. Meanwhile, trade affects a society’s attitude toward gender: the gender gap is smaller in Bangladesh and other countries that export goods requiring female labor. Thus, the road to female empowerment in an increasingly integrated world market depends on a country’s productive structure, as well as its exposure to global markets. Compared with countries with a comparative advantage in female labor-intensive goods, countries with a comparative advantage in male-labor intensive goods require more effort to counterbalance the resultant economic forces, leading to a slower pace of women’s empowerment. Nonetheless, these same efforts will in turn change the comparative advantage of countries in a way that will further promote conditions that help empower women.
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    Oct 7, 2011

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    Living In Cambdia

  • Oct 7, 2011
  • Insurance:
    • ​Foreigners must pay for insurance by themselves such as on houses, cars and health (Annually).
    • ​Employment
    • No any foreigner can perform any kind of business without work permit and record issued by the Ministry of Labor and Vocational Training. Foreigners who intend to work must meet the following conditions:
      ​A.Receive before hand work permit in order to engage in any job activity in Cambodia;
      ​B.Enter Cambodia legally;
      ​C.Hold proper passport;
      ​D.Hold proper stay permit;
      ​E.Possess appropriate physical conditions for jobs and contact no serious pandemic disease;
      ​Ministry of Labor and Vocational Training can withdraw work permit in the following conditions:
      ​A.The holders fail to comply with the 5 points above;
      ​ B.Jobs have been postponed by holders of work permit. This withdrawal would apply up on the expiry date of work permit and can be issued or extended to foreigners;
      ​C.Holders of work permit are not employed over a month or work for other employers.


      ​Maximum percentage of foreign employment​ Referring to the requests by owners or heads of enterprises, in general, the Ministry of Labor and Vocational Training allows employing foreign workers not more than 10 per cent of the total local employees.
      The 10 % of foreign workers is categorized as below:

      ​A.Office staff: 3%
      ​B.Specialist: 6%
      ​C.Labor worker: 1%

       
       
      In case that the need of foreign employment exceeds 10%, it shall be clarified the position, specialty of each foreigner to be hired as well as the reasons for employment.
    • ​Place to stay, type of home, price, location etc.
    • - First is main street location in which the price of new and old building is between 200 USD to 300 USD/m2, (Residential area: 600 USD) and land price 2,000 USD/m2;
      - Second is narrow street location in which the price of new and old building is between 150 USD to 250 USD/m2, (Residential area: 600 USD) and land price: 1,500 USD/m2
      - Third is land Street location in which the land price is between 100 USD to 400 USD/m2.


    • ​Tax duties for foreigners
    • + Foreigners work for others
      - Come to live and do business (Tax on business only);
      - Work as General Manager shall pay ordinary salary tax according to tax law (salary tax excluding children tax);
      - Work as General Manager for 182 days shall pay ordinary tax according to tax law (Tax rate: 20%),
      - Renting accommodation shall pay additional benefit tax 20% (The real estate company shall pay 20%, and foreigners who rend the house are duty free.
      + Foreigners own business
      - Work as contractor at Khans or small markets (Sell in small markets);
      - Do and registered business tax,
      - Own business shall pay additional benefit tax;
      - Profit tax (Monthly profit tax);
      - Register VAT shall pay VAT tax (except for banks and insurance company);

      - Minimum tax;
      - Withhold tax;
      - Patent tax (Every half of the year or annually);
      - Stamp tax;
      - Advertising Sign board tax;
      - Accommodation tax (Hotel);
      - Means of Transportation tax (Annually by owners);
      - Public lighting tax (Alcoholic drinks, cigarettes);
      - Special tax (Import tax including beer producing);
      - Letter Stamp tax (Sending letters locally or abroad);
      - Buying apartment tax (Room), pay stamp tax.

    • ​ Media for foreigners and tourists
    • - The Ministry of Tourism has hosted their website: www.mot.gov.kh E-mail: admin@mot.gov.kh/guide and announced through national and international radio stations, newspapers at all places exposed to tourists and produced brochures for tourists.

    • ​Embassy : please click here to locate all embassies on the City Map

    • Education for foreigners in Cambodia
    • - Cambodian-Oversea
    • Transportation (Requirement to get driver license)
    • - Foreigners who live in Cambodia for more than 6 months are eligible to apply for driver license;
      - Foreigners who already hold international driver license of heavy trucks may apply to switch to light vehicle driver license.

    • Leisure Activities

    • 1. Historical and Cultural Tourism:
      - National Museum, Temples, Independent Monument, Wat Phnom;
      - Choeung Ek Genocide Center, Toul Sleng Musuem;
      - Royal Ploughing ceremony, Khmer New Year, Pchum Ben, Water Festival;
       
      2. Natural Tourism
      - Cruising along Tonle Sap and Mekong River, fishing watch;
       
      3. Sport Tourism
      - Play golf at the standard quality golf courses such as Grand Phnom Penh, Royal Cambodia Golf Course
      -Tennis, Soccer, Badminton, etc.
       
      4. Recreation
      - Popular park such as Samdech HunSen Park, Independent Monument Park, Royal Palace Park, Park in front of CDC etc.
      - At night, you can visit the Night Market, walk along the river park etc.

    • Health Emergency
    • - 7 public hospitals: Calmette, Angdoung, Phreah Kosomeak, Cambodia-Soviet, National Pediatrics, Kontheak Bopha, Maternal and infant Support Center.

      - 103 private clinics
    • Banks and Transferring
      - Money exchange, transfer and deposit are available through state and private banks.
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    Cambodia Property Tax Calculation

  • Property Tax Calculation Example:

    An example for property tax calculation on a flat in Phnom Penh was highlighted as bellow: for instance a (7m x 25m) land with a (4m x 20m) flat consisting of Eo, E1,and E2 was estimated in market price by Property Evaluation Committee as below:

     
      
    • Land Price​​​​​​​​ = 250USD/m2
    • Price for Flat at Eo = 200USD/m2
    • Price for Flat at E1 = 150USD/m2
    • Price for Flat at E2 = 100USD/m2
    Price of the property calculation
    • Land Price = 7m x 25m x 250USD = 43,750 USD
    • Price for Flat at Eo = 4m x 20m x 200USD = 16,000 USD
    • Price for Flat at E1= 4m x 20m x 150USD = 12,000 USD
    • Price for Flat at E1= 4m x 20m x 100USD = 8,000 USD
    Total Price of Property = 79,750 USD
    Total Price in 80% (Riel) = 79,750 USD x 80% x 4,000 Riels = 255,200,000 Riels

    Tax Based = (Price of Property - 100,000,000 Riels)

    = 255,200,000 Riels - 100,000,000 Riels = 155,200,000 Riels
    Therefore the annual property tax for this particular unit = 155,200,000 x 0.1% = 155,200 Riels = 38.8 USD
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    Oct 6, 2011

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    Phnom Penh History

  • Oct 6, 2011
  • Phnom Penh first became the capital of Cambodia after Ponhea Yat, King of the Khmer Empire, moved the capital from Angkor Thom after it was captured by Siem (known as Thia) a few years earlier. There are stupa behind Wat Phnom that house the remains of Ponhea Yat and the royal family as well as the remaining Buddhist statues from the Angkorean era. There is a legend that tells how Phnom Penh was created.

    Central Market (Phnom Penh)
    It was not until 1866, under the reign of King Norodom I, that Phnom Penh became the permanent seat of government, and the Royal Palace was built. This marked the beginning of the transformation of what was essentially a village into a great city with the French Colonialists expanding the canal system to control the wetlands, constructing roads and building a port.


    By 1920s, Phnom Penh was known as the pearl of Asia, and over the next four decades continued to experience growth with the building of a railway to Sihanoukville and the Pochentong International Airport.

    New View of Phnom Penh After Khmer Rouge Region:









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    Cambodia Pchum Ben Day

  • Pchum Ben Day " Spirits of the Dead Festival" is also called the Ancestors' Day or the Spirit Day. It is observed in memory of ancestors, and the Cambodian Buddhists pay their respects to the dead by celebrations and offerings (a Ben is an offering). The Pchum Ben Festival is celebrated for fifteen days in the tenth moth of the Khmer calendar and the fifteenth day is called Pheaktrobotr.People throng the pagodas where the offerings of steamed cakes in banana leaves are made, dressed in their best clothes. Women wear colorful silk scarves, blouses and dresses. Special rice offerings are made and these are usually of sticky rice. The present day "Bens" are balls of rice cooked in local customs. The way a Ben is held also differs from locality to locality. It is a colorful festival celebrated by all. The last four days are public holidays when most Khmers visit the province/home town where they were born for family reunions.

    The people of Cambodia believe that after death they become ghosts whose earthly actions shape their appearance and that they walk the earth at this time. The living eases their suffering by offering them food. People also make offerings of money, dresses and other items to the monks in the temples/pagoda. All visitors are also offered food and soft drink. The offerings made are shared by the poor and the disabled during Pchum Ben and the donors acquire merit and cancel out past sins.

     One of the reasons the monks are offered gifts is because the Buddha commanded the monks to remain indoors for three months praying and meditating and hence food had to be given by outsiders. In the past, crops were planted inside the temple/pagoda grounds and the young plants would die if monks walked about, hence the were told to remain indoors. This was the time to concentrate and purify the minds, by engaging in meditation. People are told to abstain from alcohol and behave well, and the monks are secluded, because if they failed, they would not get any offerings during this festival.
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    Sep 18, 2011

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    Many US Firms Eye Business Opportunities in The Kingdom

  • Sep 18, 2011
  • Visa, MasterCard, Dell and Cisco systems had been added to a growing list of US companies looking to enter the Cambodian market, according to France Zwenig, counselor of the US-ASEAN Business Council. The financial services and information technology companies joined GE, Chevron, Johnson & Johnson and several other big US companies during the council’s visit to the Kingdom last week.

    Dell and Cisco eyed the Cambodia’s IT consulting sector, said an area industry insider. Customer service and product branding in Cambodia’s technologies industry were poor, Pheang Sokveasna, a project manager at local IT consulting firm PCSP Group, said yesterday. GE interested into the renewable energy and hydropower sectors. In addition, Chevron and ConocoPhillips were waiting for Cambodia and Thailand to sort out disputed Overlapping Claimed Area in the Gulf of Thailand.
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    Production Price Rise but Economists Feel Optimistic

  • Cambodia’s consumer price index rose 5% every year, according to data from National Institute of Statistics. However, experts remained positive given the Kingdom’s improving economy and surging global fuel price. “We are not concerned. It is manageable as what we expected,” said Chan Sophal, president of the Cambodian Economic Association. “Whenever the country’s economy is growing, it will push the price of goods up. That is why we see the product prices at advanced economic countries are high,” he added.
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    Exports of The Production to Be Unaffected by Debt Crisis

  • The export to the US and the EU continue to grow though these countries encountered the debt crisis. Main investors are from China and Japan coming to the Kingdom particularly to invest in garment industry, said Ok Boung, Secretary of State of Ministry of Commerce yesterday.

    The Kingdom’s exports soared up by more than 46% to US$2.677 billion in the first seven months of the year, compared to US$1.827 billion in the same period of last year. Among the products exported, milled and unmilled rice, cassava, corn increased by 186% to US$245 million; and demand for garment and textiles jumped by 43.29% to US$2.334 billion.

    However, the import soared up by 50% to US$3.788 billion from US$2.614 billion during the same period last year. The import of food and beverage, petroleum, raw garment material, automobile, increased remarkably by 23.58%, 140%, 17.78%, and 56% respectively, according to official data. In addition, the construction material increased by almost 213% to US$367.7 million. So it reflected the rebound the real estate sector in Cambodia, said Sung Bonna, president of the National Valuers Association of Cambodia yesterday.
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