Tips for choosing towards j package

Purifying all sins on earth is a very sacred journey toward the man. Facing logistical issues, his mental appearance may be overshadowed. Therefore, choosing the “perfect” Chao J package is essential to keep you focused on the spiritual aspects of your journey.

Here are some aspects to consider when choosing a j package:

1. Choosing an agent registered in Department J will increase your chances of a smooth journey. Registries are more aware of the latest regulations on visa processing, and can contact the Ministry of North Korea to resolve issues. Pilgrims should report to the Ministry of North Korea when making complaints, and have more flexibility in arranging airline, hotel and transportation arrangements.
They are also cheaper because trips to Saudi Arabia can only be arranged by authorized agencies. Sub-agents must purchase services from these agents and therefore sell parcels at an increased price.
cheap airline tickets
2. Despite all the advantages of the above licensed agents, if you have heard good news about agents, you can choose a subagent. When some sub-agents are very professional, all authorized agents may not provide good service. Therefore, the J package provider should be selected based on referrals.
all-inclusive vacation packages with airfare
3. It is necessary to provide a knowledgeable and experienced guide in your team. No matter how much information you have accumulated from books and lectures, you may run into problems you had never expected before. It’s also important to know if travel agencies are seeking advice from their guides. To facilitate logistics, some agents may plan to leave for Arafat and Muzdarifa before the time recommended by Islamic law. Choosing an agency that plans to travel under a reputable imam can reduce the risk of taking shortcuts or conflict with Sina.
cheap plane tickets
4. Make sure that checking imam will pilgrim your chosen pilgrim. It is difficult to contact Imam if you live in another hotel, take another bus or in another tent in Mina. This problem is especially common for agencies that offer a large number of packages under the guidance of one or two Imams.
cheap flights
5. Having a female guide will have more benefits for the sisters who are making the pilgrimage.

6. It is useful to check if the travel agency has full-time employees in the United States and Saudi Arabia. The more agencies rely on external resources, the more likely they are to be mismanaged. Similarly, the longer an agent has provided services to Ha, the better the equipment that provides organized services.
7. Most North Korea tickets are priced from New York to Jeddah. If you live elsewhere, be sure to factor in your domestic airfare to New York when choosing your package. Also add the cost of North Korea and Zabiha to estimate the exact amount you will each spend.

8. Staying in a convenient location is very useful. The hotel-e-Nabwi, which is close to holy places and mosques, is more important than the number of stars in the hotel, because it saves travel time, saves time on worship and saves time, without having to line up to do Wudu or use the bathroom. It might be better if you share a room with 4 people in a hotel near Haram, but not with others, but farther away from Haram. In addition, hotel ratings are based on the Saudi Arabian government’s standards, which are different from those used by the United States to rate hotels.

9. Don’t worry too much if meals are not served in the Mecca and Medina’s J. J. Set. Between prayer times, there are plenty of food options to choose from around the Holy Land, but lining up can take up a lot of your time. Hotel buffets can save time or distract because people often spend a lot of time doing too much social activity. However, with limited options, receiving food in Mina and Arafat is a good thing. If you are performing with your family, it is best to choose a set meal that you can dine throughout your journey.

10. Choosing a pilgrimage package that first landed in Medina can save time on the immigration line. Pilgrims landing in Jedda can experience immigration from 14 to 18 hours before heading to Makkah. However, choosing a package for pilgrims to land in Jeddah opens up more flight options and may be cheaper. The same is true of leaving Saudi Arabia. Medina can save a lot of time by entering and leaving the port.

11. Ask the agent where the tent is located in Mina. Most, if not all, VIP tents are within walking distance of Jamarat. However, regular tents in North American camps are only a 50-minute walk from Jamarat. In fact, some tents were not even set up on Mina. They are located on huge placards with the words “So far, Mina!”

12. The Chao Ha package promises to use the private apartment during your stay in Mina is a plus. Mina’s tent is small and there is only enough space for people to sleep. As a result, pilgrims can leave their luggage in the room during their stay in Mina. It also turned on the option to use the room’s bathroom and shower instead of using the options set in the Mina camp.

13. A pilgrimage package with a free shuttle service from Mina to Haram can help you save money. Taxi costs have increased exponentially in Mina days. Attracted by profits, many people have come as taxi drivers from other cities, and may even get lost on the road trying to make a pilgrimage to a pilgrim. Buses are cheap, but it takes a long time to get there. Therefore, the shuttle service provided by your agent will be faster and more free.

14. SIM cards are issued for most packages. This can also save time. Otherwise, you may need to wait in line to get your SIM card.

Taking these logistical issues into consideration when choosing the perfect Chao J package is expected to eliminate your worldly worries about Chao Ha and let you focus on the worship of your inner satisfaction.


ETH News

The second most valuable digital asset by market capitalization became Ethereum (ETH) in 2019, according to Binance Research, the new research will be 2019.

They said that last year ETH showed an “average average correlation” with other digital assets, with an average correlation coefficient of 0.69.

For the purposes of the study, activities with a correlation above 0.5 were assigned a strong positive relationship, while assets with a correlation of 0.5 were considered to have a strong negative relationship. The higher the number, the stronger the correlation.

Cardano (ADA) and EOS followed ETH, with correlation coefficients of 0.65 and 0.66, respectively. This is compared to a correlation coefficient of 0.31 against Cosmos (ATOM), which was the lowest correlation digital asset of the year, followed by a network link (LINK) and tezos (XTZ).

Overall, Binance concluded that all cryptocurrency systems continue to be “highly correlated” with what many cryptocurrency analysts have observed over the past few years. However, the correlation was “slightly reduced” in the fourth quarter of 2019, per report.


Zimbabwe banking overview (part one)

Entrepreneurs sometimes build businesses in uncontrollable environments. The soundness of entrepreneurship is tried and tested through changes in the environment. There are forces in the environment that could be huge opportunities or threats to the survival of entrepreneurial opportunities. Entrepreneurs need to understand their environment to take advantage of emerging opportunities and mitigate potential threats.

This article aims to shed light on the role it plays and its impact on Zimbabwe banking entrepreneurs. A brief historical overview of the banking industry in Zimbabwe. The impact of the regulatory and economic environment on the sector was assessed. An analysis of the structure of the banking industry helps to understand the potential strength of the industry.

History background

At independence [1980], Zimbabwe had sound banking and financial markets, and most commercial banks were wholly foreign-owned. After the federal liquidation, the country's central bank was inherited from the Central Banks of Rhodesia and Niassalan.

During the first years of independence, the Zimbabwean government did not intervene in the banking industry. Despite the socialist state ideology, there is neither the nationalization of foreign banks nor restrictive legislative intervention in the sectors that provide funds or charge interest rates. However, the government bought some shares in the two banks. When the bank withdrew from the country, it acquired a 62% stake in Nedbank's Rhobank at a reasonable price. The decision may be driven by the desire to stabilize the banking system. The bank was renamed Zimbank. The state does not have much influence on the operation of banks. In 1981, New York State also partnered with International Credit Commercial Bank [BCCI] to become a 49% shareholder of New Commercial Bank Zimbabwe Credit Commercial Bank [BCCZ]. When BCCI closed in 1991 on charges of unethical business practices, the asset was taken over and converted into the Commercial Bank of Zimbabwe [CBZ].

This should not be seen as nationalization, but in line with national policies to prevent corporate failures. Later, Zimbank and CBZ's equity were diluted to less than 25%.

During the first decade, no local bank was licensed and there was no evidence that the government had any financial reform plans. Harvey [unspecified, page 6] cites the following evidence showing a lack of consistent financial reform plans over the years:

-In 1981, the government announced that it would encourage rural banking services, but the plan was not implemented.

-The Monetary and Financial Committee was established in 1982 and 1983, but never established.

-By 1986, there was no mention of any financial reform agenda in the Five-Year National Development Plan.

According to Harvey, the government's reluctance to intervene in the financial sector can be explained by the fact that the government does not want to harm the interests of the white population, and that banking is an integral part. The country controls agriculture and manufacturing, which is the backbone of the economy, and is therefore vulnerable to this segment of the population. The state has adopted a conservative approach to indigenousization as it has learned from other African countries whose economies have almost collapsed due to the forced eviction of white communities without first establishing skills transfer and capacity building to black communities Mechanisms. The economic cost of inappropriate intervention is considered too high. Another reasonable reason for non-intervention policy is that when the country became independent, it inherited a highly controlled economic policy from its predecessor and had a strict exchange rate control mechanism. Because foreign exchange controls affect credit control, the government defaults to strong control of the sector for economic and political purposes. So it doesn't need to interfere.

Financial reform

However, after 1987, the government began the Economic and Structural Adjustment Program [ESAP] at the request of multilateral lenders. As part of the plan, the Reserve Bank of Zimbabwe [RBZ] began advocating financial reforms through liberalization and deregulation. It argues that the oligopoly and lack of competition in the banking industry deprives the sector of choice and quality in terms of service, innovation and efficiency. Therefore, as early as 1994, the RBZ annual report showed the desire for increased competition and efficiency in the banking industry, which led to the introduction of banking reforms and new legislation:

-Allow prudent supervision of banks in accordance with international best practices

-Allow on-site and off-site bank inspections to enhance RBZ's banking supervision functions, and

-Intensify competition, innovate and improve bank services to the public.

Subsequently, with the opening of the financial sector, the Bank Registry of the Ministry of Finance contacted RBZ and began issuing licenses to new participants. From the mid-1990s to December 2003, with the establishment of indigenously owned banks, a series of entrepreneurial activities appeared in the financial sector. The chart below shows the trend in the number of financial institutions operating since 1994. This trend indicates that commercial banks and discount banks increase first and then decrease. The growth of commercial banks was initially slow, and began to grow strongly around 1999. The decrease in commercial banks and discount banks was due to their conversion, mainly to commercial banks.

Source: RBZ report

Different entrepreneurs use various methods to penetrate the financial services sector. Some started offering consulting services and then upgraded to commercial banks, while others started to build stock brokerage companies, which were promoted to discount banks.

From the beginning of financial service liberalization to about 1997, the emergence of local commercial banks was clearly inadequate. Some of the reasons for this are:

-The conservative licensing policy of the Financial Institutions Registry, as there are risks in licensing locally owned commercial banks without legislative and banking supervision experience.

-Bank entrepreneurs chose non-bank financial institutions because their initial capital requirements and working capital costs are low. For example, a commercial bank will need fewer employees, no bank lobby, and no need to process expensive small retail deposits, which will reduce management costs and profitability time. Therefore, at this time non-bank financial institutions increased rapidly. For example, by 1995, five of the ten commercial banks had opened in the past two years. For some, this has become the preferred entry route into commercial banking. Kingdom Bank, NMB Bank and Trust Bank.

Some foreign banks are also expected to enter the market after financial reforms, but this has not happened, which may be due to restrictions on owning at least 30% of local equity. Strict foreign exchange controls and the cautious approach of licensing authorities may also play a role. Although Barclays Bank is listed on the local stock exchange, existing foreign banks do not have to give up some of their equity.

Harvey believes that the premise of the abolition of the direction of financial liberalization is that banks will be able to automatically lend for commercial reasons. But he believes that banks may not have this ability because they are affected by borrowers' inability to provide loans due to foreign exchange or price control restrictions. Similarly, positive real interest rates usually increase bank deposits and increase financial intermediation, but this logic incorrectly assumes that banks will always lend more effectively. He further pointed out that granting a new banking license does not imply increased competition, as it assumes that the new bank will be able to attract capable managers and that legislation and banking supervision are sufficient to prevent fraud, thereby preventing bank failures and the financial crisis that results. Regrettably, his concerns did not seem to be addressed in Zimbabwe's financial sector reform, which hurt the national economy.

Operating environment

Any entrepreneurial activity is bound or assisted by its business environment. This section analyzes the current environment in which Zimbabwe may have an impact on the banking industry.

Political legislation

The political environment of the 1990s was stable, but became volatile after 1998, mainly due to the following factors:

-After an attack on veterans in November 1997, an unbudgeted expenditure was given to veterans. This puts heavy pressure on the economy and causes the dollar to depreciate. As a result, the Zimbabwe dollar has depreciated by 75% as the market foresees the consequences of government decisions. That day was considered the beginning of a severe recession in the country and was called "Black Friday." Depreciation has become a catalyst for further inflation. A violent food riot occurred a month later.

-A poorly planned "land reform" was launched in 1998. On the surface, white commercial farmers were driven out of their homes and replaced by blacks without proper consideration of land rights or compensation systems. This has led to a significant decline in the country's productivity, which is largely dependent on agriculture. The way land is dealt with has angered the international community, which it claims is racially and politically motivated. International donors have withdrawn their support for the programme.

-Unwise military incursions in 1998 to defend the Democratic Republic of the Congo, known as legitimate actions of sovereignty and sovereignty, and seeing that the country has paid a heavy price without bringing significant benefits to itself,

-Elections alleged by the international community were held in 2000, 2003 and 2008.

These factors have led to international isolation, which has significantly reduced foreign exchange and foreign direct investment into the country. Investor confidence was severely damaged. Traditionally, agriculture and tourism have been huge income earners.

In the first decade after independence, the Banking Act [1965] was the main legislative framework. Since this rule was made when most foreign commercial banks own foreign capital, there are no instructions on prudent loans, internal loans, the proportion of shareholder funds that can be lent to a borrower, the definition of risk assets, and bank inspection regulations .

The Banking Law [24:01] came into effect in September 1999 and is the ultimate manifestation of RBZ's desire to relax and relax financial services. The law regulates commercial banks, commercial banks and discount banks. Elimination of barriers to entry has led to increased competition. Deregulation also gives banks a certain degree of freedom to engage in non-core businesses. It seems that this latitude is not well defined and therefore offers opportunities for adventurous entrepreneurs. RBZ advocates deregulation to eliminate division of labor in the financial sector and increase efficiency. [RBZ, 2000: 4.] These two factors provide opportunities for aggressive indigenous bankers to set up their own businesses in the industry. The bill was further revised and reissued as Chapter 24:20 in August 2000. Increased competition has led to the introduction of new products and services, such as e-banking and in-store banking. This entrepreneurial activity has led to “deepening and maturity of the financial sector” [RBZ, 2000: 5].

As part of the financial reform, the Reserve Bank Law was promulgated in September 1999 [22:15].

Its main purpose is to strengthen the Bank's supervisory role by:

-Establish prudent standards for bank operations

-On-site and off-site monitoring of banks

-Imposing sanctions and placing them under supervision if necessary, and

-Investigate banking institutions if necessary.

The bill was still flawed because the then RBZ Governor Dr. Tsumba believed that RBZ needed to be responsible for both licensing and supervision, because "the ultimate sanction that the banking regulator can know is that the banking industry knows that the license was cancelled due to a flagrant violation of operating rules." However, the government seems to have refused to do so until January 2004. Arguably, this flaw may give some bankers the impression that their licenses will not happen. Dr. Tsumba observed that RBZ's responsibilities in controlling bank management, directors and shareholders for bank viability pointed out that RBZ's “micro-management of banks and guidance of their daily operations” were neither effective nor intentional.

It seems that his successor's point of view is very different from this orthodox view, so evidence of micromanagement has been observed in the field since December 2003.

The Distressed and Insolvent Banking Policy, which was drafted in the past few years, was implemented in November 2001. One of its expected goals is, "The policy enhances regulatory transparency, accountability, and ensures that regulatory responses are implemented in a fair and consistent manner." The market generally believes that when the policy is implemented after 2003, it must be insufficient to correspond to these ideals. How transparent it is to include and exclude vulnerable banks in ZABG is controversial.

When the economy fell free, a new governor of RBZ was appointed in December 2003. He made major changes to monetary policy, which caused a shock in the banking industry. RBZ was finally authorized in January 2004 to serve as both a licensing and a regulatory body for financial institutions. The regulatory environment was reviewed, and major laws related to the financial sector were revised.

Enacted the "Bad Financial Institutions Resolution Act" [2004]. Many financial institutions are distressed by the new regulatory environment. RBZ placed seven institutions in the curator's bank, one of which was closed and the other was in liquidation.

In January 2005, under the authority of the “Faulty Financial Institutions Act”, three troubled banks were merged to form the new institution Zimbabwe United Bank Group [ZABG]. These banks were allegedly unable to repay funds advanced to them by RBZ. The affected institutions are Trust Bank, Royal Bank and Barbican Bank. The Supreme Court ruled that ZABG traded illegally acquired assets, and shareholders appealed and won the appeal. The bankers appealed to the finance minister, but the appeal failed. Later in the second half of 2006, they appealed to the court in accordance with the law. Finally, in April 2010, RBZ finally agreed to return the "stolen assets".

Another measure taken by the new governor is to force financial sector management changes, which has led most entrepreneur bank founders to be forced out of their companies under various pretexts. Some were eventually arrested and threatened to flee the country. The bank's board of directors was reorganized.

Economic environment

Economically, the country remained stable until the mid-1990s, but the economic downturn began around 1997-1998, mainly due to the political decisions already made at the time, as mentioned earlier. Economic policy is based on political considerations. As a result, multinational donors were withdrawn and the country was isolated. At the same time, the country was hit by drought in 2001-2002, exacerbating the harmful effects of evictions on crop production. The reduction in output has had an adverse impact on banks that finance agriculture. The disruption of commercial agriculture and the consequent reduction in food production have resulted in an unstable food security situation. Over the past twelve years, the country has been forced to import corn, which has further lengthened the country's fragile foreign exchange resources.

Another impact of the agrarian reform plan was that most farmers who borrowed money from banks were unable to repay their loans, but the government that took over their operations refused to take responsibility for loans. As farmers have not been compensated in a timely and fair manner, it has become impractical for farmers to repay loans. As a result, banks face the risk of these non-performing loans.

The end result is increased inflation, the collapse of companies leading to high unemployment, the depletion of international funding sources, a shortage of foreign exchange and a shortage of food. The shortage of foreign currencies has led to a shortage of fuel, which has reduced industrial production. As a result, gross domestic product [GDP] has been declining since 1997. This unfavourable economic environment means that as industrial activity decreases and banking services are pushed to parallel markets rather than the formal market, banking activity has decreased.

As shown in the figure below, inflation spiraled and reached a peak of 630% in January 2003. After a brief easing, the upward trend continued to 1729% in February 2007. Since then, the country has entered a period of hyperinflation unheard of in peacetime. Inflation is putting pressure on banks. Some believe that the rise in inflation is because currency depreciation has not been accompanied by a reduction in budget deficits. Hyperinflation will cause interest rates to soar, while the value of mortgage collateral will fall, leading to asset-liability mismatches. As more people are unable to repay loans, this also increases non-performing loans.

In fact, by 2001, most banks had adopted conservative lending strategies. For example, total advances in the banking sector accounted for only 21.7% of total industry assets, compared with 31.1% last year. Banks have resorted to volatile non-interest income. Some people start trading with parallel foreign exchange markets, sometimes collusion with RBZ.

In the second half of 2003, there was a severe cash shortage. People no longer use banks as intermediaries because they are not sure when they can use cash. This reduces the bank's deposit base. Due to the short-term maturity of the deposit base, banks are generally unable to invest most of their funds in longer-term assets, so as of mid-2003, liquidity was high. But in 2003, as customers demanded returns commensurate with inflation, most local banks resorted to speculative investment, which resulted in higher returns.

These speculations [mainly non-core banking] have driven exponential growth in the financial sector. For example, the asset base of a bank has grown from 200 billion Zimbabwe dollars [US $ 50 million] to 800 billion Zimbabwe dollars [US $ 200 million] within a year.

However, bankers have argued that in most of the world's most advanced banking systems, what the governor calls speculative non-core businesses is considered best practice. In their view, it is not uncommon for banks to hold stock positions in borrowed non-bank institutions to protect their investments. For example, banks such as Ned Bank [RSA] and J P Morgan [United States] control large amounts of real estate investments in their portfolios. Bankers convincingly point out that these investments are sometimes used to hedge against inflation.

RBZ's new governor demanded that banks close their positions overnight, and RBZ immediately withdrew its overnight housing support to the bank, triggering a crisis that led to most banks' asset-liability mismatch and liquidity tightening. . Real estate prices and the Zimbabwe Stock Exchange closed down at the same time as banks trying to hide their positions sold off heavily. The loss of stock market value means the value of collateral. Most banks use collateral instead of advances.

During this period, Zimbabwe remained in a state of debt tightening because most of its external debt was not repaid or underserved. The worsening balance of payments [BOP] has put pressure on foreign exchange reserves and overvalued currencies. The total domestic debt of the government increased from 7.2 billion rands [1990] to 2.8 trillion rands [2004]. The increase in domestic debt stems from high budget deficits and reduced international funding.

Social culture

Due to the economic turmoil since the 1990s, the population has become quite mobile and a large number of professionals have migrated for economic reasons. The Internet and satellite TV make the world truly a global village. Customers demand the same level of service excellence as the world. This makes the quality of service a differentiator. It also requires banks to invest heavily in technology systems.

The increased cost of doing business in a hyper-inflationary environment has led to high unemployment and concomitant declines in real income. As the Zimbabwe Independent reported [2005: B14] keenly observed, the direct result of the hyperinflationary environment was, "The flood of currency substitutions, which means that the Zimbabwean dollar is giving up its function as a store of value, unit accounts and exchange media … to a more stable foreign currency.

During this period, a wealthy indigenous social class emerged, which, despite having a lot of cash, avoided visiting banks. During the cash crisis, emerging parallel foreign exchange and cash markets reinforced this. In effect, this has reduced the customer base of banks, and more banks are entering the market. As a result, fierce competition has emerged in a shrinking market.

The socioeconomic costs associated with hyperinflation include: falling purchasing power parity, increased uncertainty in business plans and budgets, reduced disposable income, speculative activities that shift production resources to production activities, and increased import demand and poor returns The pressure savings on domestic exchange rates. During this period, to increase income, people who imported from China, Malaysia and Dubai increased cross-border trade and commodity brokerage businesses. This actually means that the competition for import substitution of local products has intensified, which has adversely affected the local industry.

As more and more banks enter the market, due to economic reasons, the market has suffered a serious brain drain, which of course has led many inexperienced bankers into trouble. For example, the founding directors of ENG Asset Management have less than five years of experience in the financial services sector, but ENG was the fastest growing financial institution by 2003. It was suggested that the failure of ENG in December 2003 was due to young enthusiasm, greed and lack of enthusiasm. experience. The collapse of ENG affected some financial institutions that were financially affected, and caused depositors to flee, leading to the failure of some local banks.


Pick the right pool table for yourself

What to say when buying the right pool table. Buying a pool table is really similar to buying a car. There are many ways you can connect the entire billiard industry to the automotive industry. It is amazing how much our pool table manufacturers and retailers can learn from the less trusted automotive industry. There are dozens of different manufacturers in different countries. You must then choose where to buy the pool table. Would you decide to buy from an authorized dealer or on a small timer in their garage? Among them, you will notice several different designs and sizes. There are many choices of built-in raw materials. You also need to decide more options, including stains, fabrics, sights and accessories. Do you want to buy new or used? The list goes on.

Buying new advice is always the best advice. why? Forget a moment, you can choose different quality and brands. Now, really consider the disadvantages of buying a new pool table. There is only one real disadvantage to price. If you are thinking of buying a pool table and you are motivated by the price and price; then it is best for you to solve the problem you have used. However, if you can wait, you can take some time to slow down the urge to buy now; then you will find that you will give up all the advantages of buying a new product. Remember, there are many brands and qualities. You will forgo customization, quality, generations, guarantees and guarantees. Is there anything else to say? It is clear.

Buying a pool table is a huge expense. Whether it's used stock or retailer's stock, you don't have to simply settle because it's cheaper. You don't settle for unwanted cars just because it's cheap, right? Maybe, but you know what you want. You know what you like. Build it and be part of the process. This will be something you can pass on to your child's children. However, in some cases, it may make more sense to buy inventory or second-hand items. Just know what is right for you.

OK, so what is the best pool table? This is open to debate. Over the years, I have been researching and seeing almost everything. Some are great, some are firewood. Generally speaking, I recommend you buy something made in the US, use hardwood in the building, and include Brazilian or Italian slate in a three-piece form.

Incidentally: the table from China is not good. Slate from China is bad. If you think slate is just slate; then tell a lot of customers who bought these customers wrongly that they need to refurbish the frame, replace the slate and buy new parts, which ultimately leads them to spend more than buying a whole new table. Chinese slate is hard and hard, does not allow bending, and is therefore prone to cracking. Their pool tables are mass-produced on the "production line" and sprayed with stains and surface treatments. Of course, they look great. They can even hit OK for a while, but those surfaces will crack and the cheap woods used will bend. It won't happen soon.

Made in the USA and made in the USA are also different. There are many U.S. state-owned companies that claim to be manufactured in the United States but are actually only assembled here. I don't buy from such people. Do research, talk to the right people and educate yourself. I can list you many American manufacturers, but this will solve and lose the value of product research. Let us remember that this is not just an impulse purchase, but a process.

A slate table is out of date. At the bar, they are fine, but that is not the home you want. First, who wants to move it? No one will. Second, they just can't get the level of accuracy that a three-piece slate bench can achieve. A single slate can get a regular leveling, and three slates not only provide you with this, but also add a fine-tuning element to keep the step longer and not deform.

Finding the right manufacturer and retailer will take some time. Find the more important options that fit your budget, and more importantly meet your needs. The internet can give you ideas, but you have to go there and actually look at the product. Take it easy. Find the most effective method. Remember this is your money.

Size and style are entirely up to you. No one here can influence these things. How many rooms do you have? This will help you determine the size of your current house. However, please consider this carefully. Remember, as Americans, we often move. Items that may be contained in your current house may not be suitable for your next house. What decorations do you have in your home? Is a traditional look, modern design, or competition style right for you and your home? Billiard tables have a variety of legs, frames [arched, non-arched, double arched] and crossbar edges [milled, regular, fan-shaped]. All these things should be considered. Go out and see them!

Billiard tables have more common wood types. Usually you see particleboard with particleboard and laminate, aspen [or tulip], oak [white or red], hard white maple, pecan, walnut, mahogany or some other exotic wood. Some tables are made of marble, car parts, metal and other weird materials. However, for most traditional models, your standard hardwood will be oak or maple, and laminates are often used on your tournament-style modern corner table. General rule of thumb: Stick to standard woods and climb up gradually.

Which of the following is important to you? There is no way that your home hardwood will last a long time. Poplar is just another important description of "hardwood". Technically, poplar is considered a hardwood, but most people don't know it. Even when pressed together, it is soft and easily warped. Don't be deceived by the salesman. Game-style tables are almost always made of chipboard wood, which has high or low quality laminates. Don't let that keep you from buying one because the particles are not so good. Not so, but something from well-known brands makes it good.

There are many different stains and surface treatments these days. Stain is basically the color of the wood they are made of, and surface treatment is the basis for protection and glow. Dyed colors range from natural and light to dark and black. There are usually only a few different options for topcoats, the most popular of which are matte, semi-gloss and high-gloss. These two are related to your personal desires and decoration. Check them all out, especially for your fabric color choice.

Traditional green cloth is no longer a thing of the past. There are dozens of colors to choose from, and you are not limited to green and blue in the past. Although there are different types of cloth. They will be divided into two types: woolen and worsted.

Wool or fleece is standard on household and leisure cloths. Most retailers use this type as a standard cloth for table purchases. Unless the homeowner is cheap, you will rarely see it in the pool lobby. This cloth is usually a mixture of nylon and wool. It is sometimes called fleece because it has microfibers similar to a carpet. Professionals stay away from this cloth, because it does not reduce speed and accuracy as tight as slate, it easily shots, the ball will retract into the groove and give it a "swing" feel.

Worsted fabrics are similar blends with much higher wool content. This thing is the best. It's flexible enough to stretch to incredible tightness, which provides the game with extreme accuracy and speed enough to keep professionals in place throughout the game. It doesn't wrinkle and tear like brother's wool, and it's heavy and durable, extending its life in most cases. If you have extra cash, please cash it out! Don't ski cloth, but know that there is really only one real manufacturer, and other brands of worsted wool are just cheap imitation goods.

Attractions have many different materials and styles. You will see round and diamond-shaped sights made of plastic, mother of pearl, abalone and metals such as brass and chrome. You can make them different colors, or you can give them a double diamond look. The most common double diamond style surrounds mother-of-pearl and abalone. This gives the pool table a completely different look and feel.

Then we look at the accessories. They are what they look like, and in most cases you get a kit that connects to your dining table, which comes straight out of China, and it usually sucks. Yes, because these are entry projects. Naturally, you want the best you can get when you buy, but don't let anyone tell you that his table is better because his accessories are better. Once you learn the game and put more effort into it, you will appreciate and understand the value of upgrading your device over time. Personally, if the balls are n’t Aramis, but the implication is not American; then I do n’t want them. However, they are expensive and you do n’t need them until you feel the game and want a better device.

So the last thing to mention when searching for the ideal pool table is the warranty and guarantee. Why is this important? Quite simply, if the manufacturer does not back up the product for life, and the retailer does not provide a lifetime guarantee for his work; what are the benefits of the products and services offered? Remember the generation that passed? What should manufacturers and sellers do not even believe in their products? It's hard to find a manufacturer that fits the dealer mix, but they are there. If you can't provide these two simple features, you shouldn't engage in this business at all. Forget them.

If the brand is correct, call the manufacturer and tell them you want their product without the involvement of the retailer and tell them why. If the retailer is right and the brand is wrong, then you may need to explore other options with them or find another brand.

It's all about you, here's your insight for analysis. Ultimately, you are the one who needs to decide on the brand, cost, quality and style that suits you.


How do I expand my eBay US business internationally?

The world is huge, with more than 193 recognized countries. If you add dozens of colonies and territories controlled by other countries, this number will rapidly grow to more than 200 countries worldwide. For eBay sellers looking to expand internationally, many of them are concerned that customs rules and regulations will differ from country to country. How is an eBay seller familiar with customs regulations in each country? The answer is you can't do it. So, eBay sellers avoid this kind of problem by choosing to make your product available to the global market? Slow and organized international expansion is the only way to make customs rules the buyer's responsibility.

First phase of U.S. seller international expansion

The first step in the process is to change the shipping policy page for the item. A nice feature that eBay offers is that you can choose the specific country where you want to start international repairs. But which country should you choose? Currently, USPS provides services internationally known as "First Class International". The United States Postal Service has increased postage for this service-level category, in some cases doubling postage. However, it allows new eBay International customers to ship 4-ounce packages internationally and receive delivery confirmation scans in selected countries. These are the first countries where you start your new eBay international business.

Activate the following countries:

Canada Australia UK

Netherlands Germany Switzerland

Belgium New Zealand Sweden

Spain Ireland Finland

France Portugal Brazil


If you are using an order management system such as Shipstation or Shipworks, they will allow you to purchase insurance for these packages. This will alleviate your concerns about potential fraud and lost packages.

Transportation policy

Make sure to adjust your shipping policy page to reflect the fact that you are servicing the countries listed above. Make sure you choose the correct shipping service and mention that you don't provide combined shipping for international orders. Also, make sure that you indicate that items that are prohibited from entering the country are the buyer's responsibility. The seller is not responsible for items that your customs agency prohibits entry, restricts entry or prevents entry. If you have questions about entry restrictions, please contact your local customs office. The buyer shall be solely responsible for the duties and taxes levied on the goods.

Addressing label system

When expanding into international markets, you want to use an address management system that grows with your business. I always recommend using Endicia allows you to take advantage of the commercial base prices of domestic parcels and generate labels that comply with international first-level parcels. This will become an important feature as your business grows.

Measure your success

Track how many packages are shipped internationally each day. The main statistics you will measure are as follows:

1] Number of international orders?

2] What percentage of package losses are related to your international orders?

3] What percentage of fraudulent orders?

4] How does it compare to your US business?

5] From which country have you received the most orders?

Phase 2 for international expansion of eBay U.S. sellers [shipping more than 20 packages abroad per day]

As a result, you have entered the first phase of international expansion, and as your business expands, you see some real successes. As a seller, you know that if you can reduce postage internationally, you can further expand your business. How did you do it? You contact a USPS Post Qualified Wholesaler. To find and contact a qualified postal wholesaler, you need to contact your global account manager at USPS.

OK, so you have found a USPS qualified wholesaler and want to know which USPS bulk international mailing plan you should choose? Every eBay seller answers this question differently. In most cases, two options are listed below:

USPS International Priority Air Mail

This is a USPS first-class international mail service provided by Postal Qualified Wholesalers [PQW] to more than 200 countries around the world. In essence, the USPS has outsourced the sorting, shipping, and preparation of the US side required for international distribution. PQW will send your mail to the USPS International Sorting Center [ISC] and the mail will be unsealed and ready for use on the next flight. Because USPS is receiving outgoing mail, your package will not be scanned at the receiving facility, and delivery confirmation scans will not be received in the destination country. The benefit of this service is that in many cases your postage will be halved. You will be able to upload the same tracking number to eBay, but they will not scan the delivery. Now this is where your statistics come in handy. If you have suffered a high percentage of losses during your Phase 1 test, this service is not for you. However, if you experience a percentage of consignable losses, you may want to test this service to optimize postal savings and increase the number of international orders received. If you think you must track these orders, you must use the next service. For additional information on International Priority Airmail, please see my article entitled USPS E-Commerce International Priority Airmail on

USPS Business ePacket

This is a USPS first-class international mail service provided by Post Qualified Wholesalers [PQW] to 15 countries around the world. The main difference between commercial ePacket and international priority airmail is that ePacket will have a delivery confirmation number and it will be scanned and delivered by the receiving post office. The trade-off here is that the service is more expensive than international priority airmail.

Important note

Some important considerations to take in determining international modes of transport

1] Will your business grow beyond the risk of packet loss?

2] How many fraudulent claims have you experienced internationally?

3] Is your product selling price very low, and if the packaging is lost, can it be easily replaced?

4] Are you willing to eliminate the risk of loss by keeping a small portion of postage savings from my insurance?


Air India

Highlights of the 2005 Indian Air Show

1. Retail villages are planned in the exhibition area and aerial display viewing area. For the convenience of VIPs and dear tourists, the most attractive Indian handicrafts are sold in the kiosks in the retail village. Talented artisans benefit from the tens of thousands of their fine products sold.

2. Ballat Electronics Co., Ltd. arranged all communication and infrastructure support for AERO INDIA 2005. Fax, Mobil phone, walkie-talkie, Internet, public address system, CCTV, conference hall, audiovisual projection of the registration center, etc. are the contributions of Ballat Electronics Co., Ltd.

3. The first Indian Air Golf Championship was held at Bangalore Karnataka Golf Association. CII arranges these unique features, which are loved by all tourists around the world.

4. Peter Thompson designed the 18-hole championship track. The clubhouse is 30,000 square feet. Floodlights have the longest driving distance in India.

5. The pavement on the runway has been prepared using a falling weight meter. It should also be noted that glass grids have been used to increase strength. A special feature of dense asphalt concrete made from PCN 40 polymer-modified asphalt.

6. The media center can accommodate 250 members. It is housed in a brand new hanger with an interior area of ​​4,200 square feet.

7. Bangalore Indian Institute of Science uses Box Technology for subway connection exhibition and AFSY's domestic area. They completed their work in record time.

8. Of the 57 speakers, 33 are from abroad.

9. Very interesting and informative journals covering a wide range of aviation, aerospace and defense affairs, attracting many important people. These colorful journals include: Aviation Week [New York], Aerospace and Maritime International [published in Mumbai], Canakya Aerospace and Maritime Review [New Delhi], World of Defense [New Delhi], Indian Defense Review [New Delhi], Wayu Aerospace Review [New Delhi], Indian Aviation-Civilian and Military [Mumbai], Indian Defense Yearbook [New Delhi], International Aerospace-Review and Analysis [Mumbai], Intervestnik Press [ Russia], SP Guide Publications, Private Limited [New Delhi] and Sterling Books [Mumbai]. These books and their content provide visitors with information and rigorous analysis on defense issues. Every page has a lot of valuable data.

10. Indian companies participating in the show are mainly from Bangalore. Some are from New Delhi.

11. Software companies, such as Aster Teleservices [P] Ltd., located on the 3rd floor of Sri Amulya Estate, Hyderabad-1 Mahesh Nagar, Autotech Systems [P] Limited, Phase 5 of JP Nagar in Bangalore, and Sarakki Lake, 49th Lake, Phase 5 27 078., HAL Real Estate BACHAL Software Co., Ltd., Bangalore Airport Lane-560 017., 100 Richmond Ring Road, Bangalore, Anchorage CADES Digitech [P] Ltd.-560 025., Com Avia Systems Technologies Private Limited. Gangamma Temple 47 Bangalore Jalahalli Post Road -560013. Connect Electronics Private Limited, Bangalore New Thipasandra Main Road 1878-560075. , Datta Model [I] Pte Ltd, New Aza Gowder Road 19, Old 16, Chennai Simbaran-600033., Datason [B] Private Limited, 1006, Narayana, BEML Main Road, New Thippasandra, Bangalore Reddy Building-560 075., Integrated Digital System 4B Sundaram 46P Rafi Ahmed Kidvi Road, Kolkata-700 016., Quest, 55 Quest Towers, Whitefield Main Road, Mahadevura, Bangalore-560048 ., Satyam Computer Serivices Limited, SDC plot, Bangalore KIADB Industrial Zone Phase II Electronic City 45,46,47 Electronic City -560100., Samui, Shogi Communications Limited, No. 52, New Friends Community Center, Kuwait, New Delhi F. Ansal Bhavan, 16kg New Delhi Mag-11100. , Sigma Electric Systems, M-83 MIDC, Embard Nasik 10. , Sika Botanical Systems Co., Ltd., No. 3, Gatchada Ratchetti Road, Bangalore-560042. , Silver Medal Software, Plot-23 and 24 EPIP, Phase I KIADB, Bangalore Whitefield-560 066., SLN Technologies Private Limited, 889 4th Cross, 7th Main HAL II Stage, Bangalore-560 008., Speak Systems Limited, B -49 Electronic Building, Hyderabad, Hyderabad -500 062. , Umac Avionics Private Limited, Bangalore HAL 2 Main Building No. 18 Umac House No. 143-560 008., United Telecommunications Co., Ltd., Bangalore Mahadevapura Post, Bangalore-560 048 and other United Telecommunications Co., Ltd., 18A / 19 Doddanekundy Industrial Zone This grand performance of the pretty gazebo showcases their valuable contributions to Indian aviation, aerospace and information technology. The city of Bangalore is full of popular software academies, so many software technologists have united to form these companies to serve DRDO, HAL, Navy, Air Force, missiles, airborne guided weapon systems UAV, helicopters and Bharat Electronics.

12. Bangalore's Alpha Design Technologies [P] Limited has developed simulation commands and control requirements for onshore, shipborne, and airborne systems. They also produce night vision equipment, simulators, radar, communication systems and other Indian defense needs.

13. Amphenol Interconnect India Private Limited, located at 105 Bhosari Industrial Zone, Bhosari Pune, manufactures and sells a variety of connectors, wiring harnesses and antenna products. They serve military and aerospace, automotive and medical, electronics, wireless infrastructure and mobile phones. They are leading distributors in India's defense sector.

14. Apollo Computing Labs Pte Ltd specializes in digital communications technologies in the areas of embedded computing, defense and aerospace. In LCA's Agni II, they provide the service.

15. Hyderabad's Aster Teleservices Private Limited provided yeoman for the Indian defense sector through data acquisition and control, smart cards, LC Launcher links, fiber technology links, PCI-based GPS time synchronizers, Unimux, handheld cable testers, etc. service.

16. Airdel [India] Limited has technical cooperation with British Aviation Development Corporation, with branches in Mumbai, Delhi, Kolkatta, Chennai, Kanpur, Pune and Bangalore. They manufacture and supply fasteners and other parts for the aerospace and commercial industries.

17. Avi-Oil India Private Limited supplies lubricants, the only type approved by the military center. Airworthiness and certification of the Department of Defense. The company is registered as a qualified aviation product manufacturer with the General Aviation Quality Assurance Agency. It cooperates with French NYCO S.A. Indian oil company Balmer Lawrie has teamed up to form this unique lubricant for India's defense and civil aviation industries.

18. BACHAL Software Limited is dedicated to the development of simulators and the development and testing of real-time embedded avionics software for safety-critical and mission-critical systems for flight control, flight warning, transmission, weapon use, fuel management, etc. In addition to serving Thales, Rolls-Royce, Sagem, ECE, British Airways and other agencies, it also provides to DRDO Labs, HAL, ADA, Indian Armed Forces.

19. Bijal Petroleum Equipment Company, whose office is located at 5/210 Ashirwad Industrial Zone, Ram Ramdir Road, Garion [w], Mumbai -400104 Expanded aviation ground support and aircraft, helicopter refueling fuel processing and testing equipment, providing helicopters for Indian defense Come on.

20. In order to keep tourists entertained and beautiful, some stalls display exquisite items, handicrafts produced by India's Central Farmhouse Industry Co., Ltd., Cauvery, Karnataka National Arts and Crafts Store. Many female tourists in India and abroad are fascinated by the beauty of every item sold there.

21. Sari is a traditional dress worn by Indian women. As a result, a silk Zari sari booth was placed on Aero India in 2005 to divert people's attention. Thousands of well-designed sari are on sale, and women V.I.Ps have a great time there. Karnataka Soap and Detergent [P] Co., Ltd. also exhibited its pleasant soap.

22. Chandra International of Mumbai is engaged in import and export, conversion trade, and represents international companies such as ESL Defence, UK, Douglas SPD, UK, Goodrich, USA and Orbit ACS.

23. ComAvia Systems Technologies [P] Ltd. Bangalore provides services in the avionics integration field of Air India's LCA, Jaguar, MiG27 and other advanced aircraft projects. They also established integrated test benches and other test solutions, including data acquisition and simulation. MIL-STD-1553B bus, ARINC429, analog, digital, serial and other interfaces.

24. Data Mode [I] Chennai Pte Ltd has developed airborne, navy, ground and space applications, such as aircraft mission computers and displays, missile onboard computers and fire control systems, radar subsystems, aircraft ATE , Ground system spacecraft and vehicles.

25. For DRDO, the Space Systems Department, the Systems Housing Department, and the aerospace industry, use Datasol [B] Pvt. Ltd., Bangalore Company provides the most advanced modular product design, development and integration services in avionics, cockpit display products and other fields. This is an ISO 9001-2000 company.

26. DRDO has 5,000 scientists, 25,000 other scientific and technical and support staff, and 54 laboratories. The contact person is: Dr. D. Banerjee, phone 91-011-23016640, Brig Umang Kapoor, director, phone: 91-011-2301-3209, B.C. Dr. Srikanta Vice President DRDO.

27. Dynamatic Technologies of Bangalore handles ailerons and flaps of ITT-36 jet trainer; wings and rear fuselage of high-performance drone Lakshya; control surfaces of Su-30 mki fighters, such as vertical fins, stabilizers Canard, ventral fins and slats, ground support equipment for military aircraft, servo test control equipment for helicopters; gearbox products and electronic hydraulic braking systems for combat vehicles. The fabrication and assembly of the fuselage structure of Hall's 155-36 project "Indian Unmanned Target Aircraft" Lakshya. Dynamatic Aerospace will work with HAL to develop the fuselage structure of the Sukhoi 30 mki fighter.

28. New Delhi Enpro Secan India Co., Ltd. sells vapor circulation cooling systems for armored combat vehicles, liquid cooling systems for radars, antennas, waveguide dryers, ACIDC brushed and brushless motors, rods, radars, and torque motors for missiles. , Blower blower axial centrifugal chariots, XIBC armed vehicles, etc., heat transfer systems for aircraft, chariots, etc. They provide services for HAL, ADA, ECIL, BEL, DRDO, IAF, Indian Army, BDL, Indian Airlines, Thales , Airbus, Eurocopter, MTU, Aircraft, LUCAS, Air France, Lufthansa, etc.,

29. The batteries of Indian military aircraft, helicopters, torpedoes and missiles are silver zinc zinc, nickel and cadmium provided by Tamil Nadu High Energy Battery [I] Co., Ltd. Contact: S.Arunachalam, V.Balasubramaniam, Fax: 91-4339250516, 91-431-2414455.

30. Terra Vista product range of 3D Terrain Generation 9.8 sold by the integrated digital system Kolkatta. These 3D databases are used for war games, situational awareness analysis, flight simulation, training, etc.

31. Interestingly, JS Precisions in Bangalore was established under the Women Entrepreneurs Program. The contact person is Mrs. Jayanthi, fax: 91-080-26637921, phone: 91-080-266372707. They provide sheet metal, mechanical parts and non-metal parts for aircraft and aero engines. Locknuts, washers, clamps, lock washers and their products available to IAF, DRDO, Navy Aviation and HAL. They produce more than 800 precision critical / non-critical components.

32. Bangalore Kumaran Industries uses CNC technology to produce jet engine parts for the aerospace industry. The development of precision airframe and aero engine parts for LCA, ADA, ALH, 14-seater passenger aircraft, SARAS [NAL], ADE, Navy and Air Force is their valuable contribution to the Indian Air Force. They have also been recognized by foreign companies such as Magellan, uTGU Technology. The contact person is Mr. Mohan, director, telephone: 91-80-23409113, fax 91-80-23381498. Mr. Parthasarathy is the technical director.

33. Bangalore Maini Precision Products [P] Ltd. provides services for Honeywell, Moog Aerospace, Goodrich, Sneema moteurs, France, etc. by producing and processing parts. Contact: Shaikendra Pratap Singh, Fax: + 91-80-51272500, 91-80-51272400.

34. The Indian Ministry of Defence has granted a license to Max Aerospace Aviation Ltd. in Mumbai to supply and install avionics, drones, CAV's aircraft subsystems, helicopters and weapons. The company proudly states that they have obtained approvals from DGCA, HAL, DGAQA, and CHEMILAC and are registered with the IAF. Navy and Indian Coast Guard. Their maintenance work has also been approved by NAVCOM. ADF, VDR and CUR. Works in cockpit instruments, lighting systems, gyroscope instruments and fuselage components are top quality. Contact: Bharat Malkani, phone: 91-22-26135545, fax: 91-22-26162613.

35. The merchant shipping industry, the Indian Army, the Naval Coast Guard, and the IAF tend to use specialized tents to maintain helicopter crews, inflatable lifeboats, life jackets, etc. produced by Mumbai Meridian Inflatable Company Pte Ltd It has 25 years of experience and is ISO 9001 certified. Contact: Major Arun Phatak [reserved], Tel: 91-22-28570369, Fax 91-22-28572927.

36. Hyderabad MIDHANI has developed 75 alloys under the great efforts of its R & D team.


Drones and their use in government and private agencies

Drones are drones that can fly around and can be used for specific tasks. Drones are used for photography and video from above. Some are used to perform scientific or technical measurements. Some carry weapons and are used as combat tools. There are also some used for shipping goods and mailing between places. Drones are the latest development with tools for installation and repair.

The basic technology of drones includes some kind of power unit, some kind of propulsion mechanism, some kind of steering mechanism, some kind of sensor for recognizing position and path, and a transceiver that sends and receives signals for turning and recording. You can find drones of various shapes on large planes, as well as all kinds of fancy shapes, such as oval airships, disks, triangles, donuts, stars, or can be like big insects or birds.

Small or light drones are usually driven by a propeller, which is connected to a battery-powered electric motor. Stably, more people produce very light drones, powered by solar panels, which can in principle fly for several weeks in the air. Some drones keep the air high through lighters, just like airships, which also allow them to stay in the air for a long time. Larger or heavier drones are powered primarily by some internal combustion engine, such as a piston engine, turboprop, or turbojet.

It is also possible to build nuclear-powered drones that can stay in the air for days or weeks, especially if they are partially manufactured as inflatable airships. Such a nuclear power source need not be a so-called atomic reactor. The energy source can be a special isotope that is intensely radiated to generate enough heat to power the drone. Some of these isotopes mainly emit alpha or beta rays, which can be shielded without the need for heavy armor.

Since the use of most drones is secret, or only publicly announced, it is difficult to fully describe the scope and personnel of drones, but according to official news, news, and scientific articles, people have A pretty clear understanding of the commercials of drone manufacturers and the stories of people's contact with drones in use.

Most drones may have been used by civil administration and property owners for various forms of home surveillance, such as border control, road traffic surveillance, wildfire detection, aerial photography, geographic mapping, pipeline control, grid control, and crowd behavior monitoring. Drones are increasingly used to convey the point of view of sports championships. The use of drones by police to detect and investigate crimes also appears to involve drones directly monitoring private citizens in their homes.

The military has long used drones to monitor foreign territories and theaters. The use of small tactical drones to transport bombs, launch missiles and carry out artillery bombardment is old, but increasingly important. By 2014, such drones had been widely used to monitor terrorist bases, bombard such bases and kill individuals suspected of terrorism. The RQ-4 Global Hauk is a classic surveillance drone for the military and civil service. Northrop Grumman's MQ-8 [A, B, and C] fire reconnaissance aircraft are examples of small reconnaissance drones used in local operations. Ships or land-based formations.

Compared to bombers, larger long-range drones are used to monitor and destroy ground and maritime targets. The most famous examples are the Atomics MQ-1 Predator, the Atomics MQ-9 Reaper capable of carrying heavier weapons and the more advanced stealth jet combat drone Atomics Avenger. The Isreeli Eitan UAV is a large remote surveillance and ground combat drone capable of maintaining high altitude flight for 70 hours.

So far, effective laser guns have been invented. At least in experimental versions, by 2014, drones armed with laser guns may become a reality, but these drones must have a certain size because the laser needs to be powered by a turbine Engine driven large generator.

However, by 2014, the technical control mechanism may not be so advanced that people can already build fully reliable supersonic drones with fighter capabilities. Unmanned supersonic stealth fighters have been built for some time and have been testing for a long time until 2014. Among these Northrop Grumman stealth bombers, the x47B will be deployed in field tests of aircraft carriers by 2014.

British company BAE is developing a stealth supersonic fighter bomber in a project called Taranis. French producer Dessault and other European participants are working on a similar project called nEUROn. Both projects have produced experimental versions that will be tested in 2014. There is speculation that the sixth-generation fighter will be unmanned and can carry people or be used as a drone, depending on the choice. Lockheed Martin's Skunk Factory and Boeing's Phantom Factory are leading developers of US combat vehicles, including drones.

The available information seems to indicate that Lockheed Martin is developing an unmanned fighter that uses the same technology as the F35B stealth, vertical takeoff and landing, and supersonic fighters, and they are also developing hypersonic unmanned reconnaissance aircraft flying at high altitude . . Logically, this supersonic aircraft will also be capable of bombing.

Drones that mimic birds or other small animals have been developed and can be used to spy, shoot, or inject poison into a target. There are rumors that some authorities are already using such drones. There are rumors that even spies and attack drones that are similar in shape and size to insects are being developed. Maybe microtechnology hasn't evolved to the point where such drones can be made, but the physical possibilities of making such drones are there.

The U.S. plans to make airship-powered, solar-powered drones permanently placed above the atmosphere for surveillance. This drone can be lowered to a lower altitude to avoid clouds and patrol a certain area, which is impossible for artificial satellites. But for a long time, high-altitude flying drones powered by nuclear energy may have been operating at high altitude for days or weeks. Some observations of the UFO seemed to point in that direction.

One might ask how often drones are seen flying or being used by 2014. Sometimes people see flying objects that are clearly considered drones. In most cases, it is difficult to determine what you see. By 2014, most UFO reports may have been caused by drones.

Since at least larger drones are comparable to other air vehicles, they have to keep lanterns and other ways to warn of the possibility of a collision, but since government-operated drones often want to keep flight secrets, this is why A lantern-like lantern may only be lit when there is other traffic nearby, or when the operator wishes to make visual contact. This intermittent glow is typical of many classic UFO sightings.

Similarly, drone flight modes used for surveillance and investigation will mimic those seen by subjects in UFO reports: sometimes they fly at different speeds, forewords, sometimes they stop and just hover, and they often change direction They will come from above, do some actions near the ground, and then fly.

Similarly, the light shot by the drone can also be used to illuminate objects that are usually on the ground for image recording, which can also be seen in the classic UFO story. In addition, many drones are shaped like classic UFOs. In addition, drones only emit very little noise, which is also a feature of so-called UFOs.


Island hopping in the Philippines-an exciting experience

If planned correctly, few outdoor activities are more fascinating than island hopping. In this article, I will introduce some guides that will guide you through the maze of island hopping in the Philippines and how you and your partner have a great time. So let's travel to the Philippines and see the possibility of island hopping in the Philippines. You will enjoy a fun-filled scuba diving experience, delicious meals and pristine coral reefs covered with colorful fishes and more.

Island hopping in the Philippines is second to none because the Philippines is an island made up of 7,100 islands in Southeast Asia. What makes the Philippines' island hopping in this paradise even more fascinating is that it will not cost you a hand.

If you are a nature lover, you will enjoy every minute of visits and activities: exquisite white sand beaches, fine and delicious meals and breathtaking scenery. You will also enjoy various water sports: diving, parasailing, surfing, snorkeling and more.

How will you handle 7,100 islands in one country? If you have time, exploring some of them may be the obvious response. Anyway, this might be what you might do on your next trip to the Philippines.

Now that you have decided to hang out in the Philippines, take a piece of paper and write down a plan. Make it real, feasible and flexible. When you venture in foreign territory, make sure to include Plan B in your overall plan, as sometimes ferries are late, aircraft can be delayed, and many other unknown factors caused by Mother Nature.

Time is an important factor to consider in your plan. Let's say you want to hop island in Cebu City, Philippines. It is said that upon arrival from the United States, you will be staying at a hotel in the capital Manila. The flight from Manila to Cebu City takes approximately 45 minutes. With all things in mind, when you arrive in Cebu City Cebu you may need to take a break and start your round-the-island tour the next day. From island to island, you will most likely need a day or more.

During the trip, you will use domestic flights, short-haul Bangas [banana], long-haul ro-ro and longer ferries if needed. On land, you may have to take public transport such as buses, taxis and rental cars, or rent a private car with a driver at a very reasonable price. There are plenty of foods and beverages to suit your needs almost everywhere. These should not be a big problem for you. Make sure you bring your own drinking water or only drink from a sealed water bottle.

In Cebu City, you can plan island hopping at the following destinations: Bohol Island, Mactan Island, Oriental Hotel Negros, Wright, Siquijor, and more. To demonstrate, of these five islands, I will show you how to make island hopping trips to Bohol and Wright only. You can easily do other things based on the first two using the same procedures and principles.

let's continue. Be sure to check your Filipino calendar for your holidays as this may affect your travel. You should pack lightly. Wear comfortable clothes and waterproof shoes. If you have one, carry a lightweight backpack and waterproof camera. Don't rely on ATMs or banks; therefore, you should bring cash or Filipino currency.

On average, you should spend about 1100 Philippine pesos or pesos, or $ 26 per day on island hopping or more, which should include transportation, food and other expenses.

From the capital Manila

You should purchase a two-way ticket at Manila at Nino International Airport. Take a domestic flight from Manila to Cebu International Airport in Lapu-Lapu, Cebu City. You can choose a hotel in Lapu-Lapu. It takes about 45 minutes to fly from Manila to Cebu Mactan International Airport in Lapu Lapu.

The first thing you need to do when you arrive in Cebu is to collect all the information on the ferry schedule: fare, departure date and time, and return time to your destination. Also, if you plan to spend the night at one location, you should book a hotel room in advance. Ask the receptionist at the hotel desk for the required information.

You should decide whether to spend the night at each destination. This is the best way to synchronize your island hopping itinerary. Basically, if you want to visit 3 or 4 islands nearby, you may need to stay at least 4 or 5 nights in Cebu, provided that you do not spend the night on any of the islands.

The first island you may want to visit is Bohol Island. So you take a ferry from Cebu City. At your hotel reception, ask the clerk how to take the ferry to Bohol Island. With this information, the taxi driver will take you to the right jetty to Bohol. Get two tickets. Make sure you check the time and date of your return trip.

You may decide to explore Bohol Island by bus or private car or with a guide. It's up to you. After completing Bohol, you can now decide to continue to Leyte on the same day [possibly in the evening]. Check the ferry schedule from Bohol to Wright to make sure the island tour is going as planned.

In Bohol Province, buy a two-way train ticket from Subay Ubai [Bohol] to Bator [Wright]. Check your ferry ticket to make sure you arrive on time when you return. You may want to hire a guide or private car with driver from Bato in Leyte; this is also a possibility. Nevertheless, tour guides should be the way to go. Because you will arrive at Wright sometime in the evening, you will have to stay there overnight. You will find many hotel accommodations and restaurants to choose from.

You've been exploring Leyte almost all day. Ask the receptionist at the hotel front desk about travel information: city trips, boat trips, etc. If you decide to take part in some water sports, you can rent a boat or board a boat tour. If you want to dive, board the dive boat. In this case, you can rent a snorkel, mask and other gear on the beach. Before doing so, determine if these items are included with your diving travel package.

If you enjoy diving, you might also like the views of pristine coral reefs covered with colorful fish. Perhaps, after a pleasant and exciting dive, you should be ready to take a ferry on your way to Cebu. View your ferry schedule. If you have more time to leave Manila, you may wish to take more island hopping tours in Siquijor, Mactan Island and Negros Oriental. Happy island tour around the Philippines!


How to use the benefits of 141 and 61 helicopter flight training

There has been a long debate about the advantages of part 141 and part 61 training. These differences confuse student pilots, so they cannot determine how to take full advantage of the benefits each pilot offers.

Regardless of whether your train is based on 141 or 61, the following will remain the same: 1] written test. 2] Speaking during the inspection. 3] Check the flight part of the flight. 4] Issue a license.

The measure of success is the same in both types of schools: 1] The mentor determines the success or failure of the school. Knowledgeable and experienced lecturers are key. 2] Drop-out rates are high in some flying schools. Successful schools should have at least 90% of their trainees awarded their contracted certificate and grade. 3] Aircraft maintenance is important. Because the plane is grounded, students should rarely cancel flight classes. 4] The school accident record should be zero or close to zero, which indicates that the school has a high evaluation of your safety.

On the surface, it seems that all helicopter flying schools are very similar. That's why it's so useful to understand the difference between sections 141 and 61. The two biggest differences are: 1] Part 141 training requires a FAA-approved training course outline [TCO]. Part 61 does not require the use of TCO at all. 2] The flight school itself and the chief flight instructor must meet the strict requirements of the FAA. Part 61 is not subject to these FAA requirements.

Let's start with Part 61 Helicopter Training and Flight School. Today, most helicopter flying schools in the United States are 61 flying schools. Many of the 61 helicopter flight schools originally consisted of a certified flight instructor and a helicopter. The flight instructor provides prospective students with one-on-one training and teaches them where they see fit. If the lecturers are good, then more students will join the school, and the owners will buy more helicopters and hire more lecturers to meet demand.

For the 61st Helicopter Flight School, no FAA inspection is required. Flight schools can train students for free using methods of their choice. They should abide by the rules and regulations of FAR / AIM regarding part 61 flight schools and training, but are not subject to inspection by the FAA to confirm that they are doing so.

Part 141 training schools and flight schools must meet very specific requirements and standards. After passing the FAA inspection, the helicopter flight school will obtain an aviation agent certificate. Facilities and aircraft inspected for part 141 training were inspected. The chief flight instructor must conduct an annual inspection with the FAA.

In terms of training, the flight school submits a separate, unique training course outline [TCO] to the FAA for each certificate and / or level they teach in Section 141. For example, a private pilot TCO will be submitted. This includes lesson plans for flight and ground training. If the flight school wants to teach instrumentation grades in accordance with Section 141, it must submit another instrumental TCO.

Don't assume that 141 helicopter flight schools provide all certificates and grades under 141. Many schools receive only FAA private, instrument, and business certificates. It takes a lot of work for the flight school to create a TCO and teach according to Section 141. The FAA requires flight schools to maintain extensive student documentation on Section 141, including very detailed information about student progress. This is great for students. Flight schools are time consuming.

There are some very large flight schools that only offer 141 parts of training. They developed a curriculum and taught many students at the same time. They also developed flight plans. Few large flying schools usually have a high ratio of foreign students to domestic students. This is because SEVIS [Student Exchange Visitor Information System] requires flight schools to obtain a flight school certified by the Federal Aviation Administration [FAA] as part 141 to apply for permission to train international students. The Veterans Association [VA] has the same Article 141 requirements for veterans to use their VA benefits.

Most of the 141 schools also provide 61 courses for the same course. For example, you can choose a private pilot based on the provisions of Part 141 or Part 61. Schools that offer both training methods provide students with maximum flexibility.

Students enrolled in part 141 helicopter flight schools can get all the benefits of attending part 141 schools even if they choose to take part or all of the training according to part 61. This is due to the school being randomized by the FAA. They must always maintain high standards to retain their certification.

The disadvantage of part 141 training is that the TCO must be followed in written order. Each student's learning style is different, and some people like the flexibility of Part 61 training, which allows students to study the teaching materials in an order that suits them.

This brings another advantage to flight schools that offer both part 141 and part 61 training. They will usually use TCO in your Part 61 training. This is very useful for student pilots as you can benefit from a FAA-certified structured training course outline while providing materials in the order that suits you best.

Another advantage of training in a school that offers both types of training is that you can mix and match your training. For example, I want to drive privately under the provisions of Part 61, because I want to be flexible in choosing the course. The structure of the flying instrument is very organized and it is about learning procedures, so I chose to follow the 141 part for instrument training. I found that the structured approach and learning sequence were really effective for my instrument training. I went back to section 61 for business training.

Learning to fly a helicopter is fun, exciting and expensive. Before making a final decision, take a comprehensive look at your helicopter flight school and the courses it offers. Fly safely!


Japan's insurance industry

During the heyday of the 1980s and the first half of the 1990s, like the rest of the Japanese economy, Japan's insurance industry was developing with tremendous strength. The huge amount of premium income and assets formed is sometimes comparable to even the most powerful United States, and domestic investment opportunities are limited, which has led Japanese insurance companies to look outward for investment. Since 1980, the industry has become a major international investor, which has made it popular with analysts worldwide.

The global insurance giant is trying to gain a foothold in the huge market size. However, the restrictive nature of Japanese insurance law led to fierce, and sometimes fierce, negotiations between Washington and Tokyo in the mid-1990s. The bilateral and multilateral agreements reached are in line with Japan's Big Bang financial reform and deregulation.

Based on the results of the 1994 US-Japan insurance negotiations, a series of liberalization and deregulation measures have been implemented since then. But the process of deregulation is very slow, and it is often very selective in protecting the interests and market share of domestic companies. Although Japan's economy is comparable in size to the United States, it clearly lacks the foundation of an effective financial market—sound regulations for a competitive economic environment. And its institutional structure is also different from other developed countries.

In Japan, a unique phenomenon is the kieretsu structure, which is a group of companies with a large number of shares in different industries. As a result, there is no need for shareholder motivation to force the company to adopt the best business strategy. Although initially touted as a model during Japan's boom, the system's vulnerability became too apparent when the economic boom bubble burst in the 1990s. Equally bad for Japan is that it cannot keep up with the pace of software development in the rest of the world. Software has been the engine of world economic growth in the past decade, and countries that are lagging in this area are facing the economic downturn of the 1990s.

Surprisingly, the "New World" economy after the Internet revolution lags far behind Japan, which is the world leader in the "brick and tile" industry. Japan now refers to the 1990s as the "lost decade" of the economy and has lost its luster after three recessions in the past decade. Interest rates fell to historical lows to stop the economy from falling, but to no avail. For an insurance company, its lifeline is the spread of benefits in its investments and has suffered severe damage. Faced with the "negative spread" and the increase in the number of non-performing assets, many large insurance companies went bankrupt. Although Japanese insurance companies have largely avoided the scandals that plagued fellow banking and securities companies, they are currently suffering unprecedented financial difficulties, including catastrophic bankruptcies.

Institutional weakness

The Japanese market is a huge market but consists of just a few companies. Unlike similar companies in the U.S., where approximately 2,000 companies compete fiercely in the life insurance sector, the Japanese market includes only 29 companies classified as domestic companies and a few foreign entities. The same is true for the non-life insurance industry, with 26 domestic companies and 31 foreign companies offering their products. Therefore, when choosing a carrier, consumers have fewer choices than their American counterparts. There are also fewer varieties of products. Japanese life and non-life insurance companies are characterized by "ordinary vanilla" products. This is even more apparent in car insurance, which until recently did not allow the risk of differences to be reflected by gender, driving records, etc. Drivers are divided into three age groups for the sole purpose of determining premiums, and US interest rates have long reflected all of these and other factors.

Needs also vary for different types of products. Japanese insurance products are more focused on savings. Similarly, although many Japanese life insurance companies offer several limited types of variable life insurance policies whose returns reflect the value of the underlying financial assets held by the insurance company, thereby exposing the insured to market risks, Some people choose such a policy. At 100 yen = 1.00 USD, the value of Japan's variable life insurance policies effective as of March 31, 1996 was only USD 7.5 billion, accounting for only 0.08% of all life insurance. In contrast, as of 1995, the effective variable life policy in the United States was worth $ 2.7 trillion, or about 5% of the total, and there were many options, such as variable universal life.

In both industries, Japanese insurance companies have less competition than their American counterparts. In an environment where a small number of companies are offering a limited number of products to newly entered markets that are heavily regulated, implicit price coordination will be expected to limit competition. However, Japanese-specific factors have further reduced competition.

Price competition and the lack of product differentiation mean that an insurance company can acquire a company's business and stay in business indefinitely. American analysts sometimes point out that keiretsu [corporate group] relationships are such an excuse. For example, members of the Mitsubishi Corporation may often wander around to purchase hundreds or thousands of its goods and services. But for non-life insurance, this comparison pricing is futile, as all companies will offer many of the same products at the same price. As a result, a company of the Mitsubishi Group often handed over its business to Tokyo Marine Fire Insurance Co., Ltd., which has been a member of Mitsubishi Keiretsu for decades.

On the surface, life insurance premiums are more flexible. However, the role of government in a part of this industry is also increasing-and in some way influence the pricing of insurance products. In addition to its huge savings system, the country's postal system also operates a postal life insurance system commonly known as Camp. Kampo's transactions take place at thousands of post offices. As of March 1995, according to the calculation of current policies, Camp has 84.1 million unpaid policies, about one per household, accounting for nearly 10% of the life insurance market.

Most of the funds invested in Campo went into a huge fund called a "trust fund", which in turn invested in several government financial institutions and many half-dozen government-related activities such as ports and highways Public Sector. Although the Ministry of Posts and Telecommunications is directly responsible for Camp, the Ministry of Finance is responsible for managing the trust fund. So, in theory, the Treasury can have an impact on the returns Campbell can earn and the premiums it might charge.

Kampo has many characteristics that influence its interaction with the private sector. As a government-run institution, it is undoubtedly inefficient, increasing costs, making it uncompetitive, and implying a declining market share over time. However, because Kampo cannot fail, it has a high risk tolerance and can ultimately be borne by the taxpayer. This means increasing market share, enabling this postal life insurance system to underestimate the price of its products. Although growth prospects are probably what MPT hopes, MOF seems equally interested in protecting its affiliated insurance companies from "excessive" competition.

The end result of these conflicting incentives is that Kampo appears to limit the premiums that insurance companies charge. If their prices rise too much, Kampo will gain more shares. In response, the insurance company can return the premium. Conversely, if investment returns or greater efficiencies reduce private sector premiums relative to basic insurance, Kampo will lose market share unless adjustments are made.

Japan's life insurance division also lags behind its American counterparts in formulating ways in which companies can cooperate to deal with the threat of personal anti-selection and fraud. Although the number of companies in Japan is much smaller, the mistrust and disunity among them has led to an isolated approach to these threats. In the United States, the presence of a sector-sponsored entity such as the Medical Information Bureau [MIB] is the first line of defense against fraud, which in turn can save the industry about $ 1 billion annually in terms of protecting value and outpost effects. Soon after, major carriers in Japan began to adopt methods similar to forming common data warehouses and sharing data.

Analysts often complain that insurance companies are reluctant to adhere to prudent international norms in order to disclose their financial data to the investment community and its policyholders. This is especially true because companies have common characteristics compared to "public" companies in the United States. For example, Nissan Mutual Life Insurance Co. went bankrupt in 1997. Although the company ’s president admitted to bankruptcy for many years after the bankruptcy, the company has generally reported net assets and profits in recent years.

Foreign life insurance

Since the American Life Insurance Company [ALICO] first entered the Japanese market in February 1973, there are currently 15 foreign life insurance companies [over 50% of foreign investment] in business. However, companies like American Family Life [AFLAC] were initially allowed to operate only in the third sector, Medicaid Areas such as the Critical Illness Supplement Program and Cancer Program, which was not attractive to Japanese insurance companies. The mainstream life insurance business is controlled by foreign carriers. However, in the late 1990s, there was a huge turmoil in the industry, and many domestic companies fell into severe financial difficulties. Japan has gone to great lengths to protect itself, allowing foreign companies to acquire troubled companies and keep them in business.

Foreign operators continue to enter the Japanese market. As one of the two largest life insurance markets in the world, Japan is considered strategically important with North America and the European Union. The collapse of domestic life insurance companies and the continued deregulation have promoted the consolidation of the Japanese life insurance market, which has provided global insurance companies with major opportunities to expand their business in Japan. The total market share of foreign participants is gradually increasing. As of the end of fiscal year 1999, global insurance companies' premium income accounted for more than 5%, while effective personal business accounted for more than 6%. These numbers are about double what they were five years ago.

In 2000, AXA Group strengthened its business base in Japan by acquiring Japan's Dantai Life Insurance Co., Ltd., a domestic secondary insurance company with weak financial strength. To this end, AXA established the first holding company in the Japanese life sector. Subsequently, Aetna Life Insurance Co. acquired Heiwa Life Insurance Co., Winterthur Group acquired Nicos Life Insurance, Prudential British company [Prudential UK] acquires Orico Life Insurance. Also active in the Japanese market are American insurance company Hartford Life Insurance Co., known for its variable insurance business, and France's Cardiff Vie Assurance.

In addition, Manulife Century, a subsidiary of the manufacturing merchant life insurance company, inherited the business and assets of Daihyaku Mutual Life Insurance Company, which failed in May 1999. In April 2001, AIG Life Insurance Company assumed the business of Chiyoda Life and Prudential. Life Insurance Co., Ltd. took over Jingrong Life. Both Japanese companies applied for court protection last October.

Supported by a good global track record and strong financial capabilities, foreign entrants enjoy a reputation as part of an international insurance group. They also got rid of the negative interest margin that has plagued Japanese insurance companies for a decade. Despite market turbulence, foreign companies are better able to optimize business opportunities. Although several large Japanese insurance companies still dominate the market, the dynamics are changing as existing business units move from domestic insurers, including failed ones, to new immigrants eligible for policyholders. The pursuit of quality. The list of companies with foreign participation is as follows:

INA Himalayan Life
Prudent life
Manulife Century Life

Scandinavian life
GE Edison Life
Aoba life

Antai peace life
Ridan Life
Zurich life

American Family Life
AXA Nichidan Life

Prudent life
ING life
Cardiff Guarantee Alliance

NICOS life

Foreign insurers are expected to lead their domestic competitors to some extent in terms of innovative products and distribution, allowing them to gain a broader experience in the global insurance market. The immediate challenge for foreign insurers is how to establish a franchise large enough in Japan so that they can take advantage of these competitive advantages.

What's wrong with the life insurance industry?

In addition to its low operating efficiency, Japan's life insurance industry is also a victim of government policies, part of which aims to free banks from financial difficulties. By keeping short-term interest rates low, the Bank of Japan encouraged a relatively large spread between short-term and long-term interest rates in the mid-1990s. This benefits banks, which tend to pay short-term interest rates with deposits and long-term interest rates with loans.

However, the same policy is not good for life insurance companies. Their customers have higher interest rates on insurance policies that are usually long-term investments. Falling interest rates usually mean gains for insurance companies. Assets fall. By the end of 1997, insurance company officials reported that guaranteed yields averaged 4%, while yields on priority assets and Japanese long-term government bonds hovered below 2%.

Even if the numbers increase, insurance companies cannot make up for the negative difference. In fiscal 1996, they tried to get rid of the dilemma by cutting the benefits of pension-type investments, only to see a lot of money under their management flow to competitors.

To increase the damage, life insurance companies bear part of the cost of cleaning up the bank. Distressed assets are chaotic. Since 1990, the Ministry of Finance has allowed the issuance of subordinated bonds ordered by banks. They can count any funds raised through such instruments as part of their capital, making it easier than others to meet existing capital / asset ratio requirements. It can be said that this treatment makes sense, because the holders of this debt [such as equity holders] are almost last in the bankruptcy event.

Subordinated debt has high interest rates precisely because of the higher risk of default. In the early 1990s, insurance companies were almost unable to determine bank defaults, were seduced by the high returns available, and provided large loans to banks and other financial institutions on a subordinate basis. Smaller companies, especially those eager to catch up with larger peers, especially large players. Tokyo Mutual Life Insurance Company ranks 16th in the Japanese life insurance industry based on assets. As of March 31, 1997, about 8% of its assets are subordinated debt, while industry leader Nippon Life has only 3%. .

The rest is of course history. Banks and securities companies that insurance companies also borrowed from began to close in the mid-1990s. The fall of Sanyo Securities Co., Ltd. last fall was partly due to the failure of life insurance companies to extend their subordinated loans to the brokerage company. Life insurance companies have complained that even if the bank's failure suggests that they should have been repaid, they sometimes cannot. For example, it was reported that when Meiji Life Insurance Co. closed down in November, the outstanding debt owed to Hokkaido Takubo Bank Co., Ltd. was 35 billion yen [$ 291.7 million]. Even though Hokkaido Bank did have some good loans transferred to North Pacific Bank Co., Ltd., Meiji Life did not receive compensation from these assets. It will obviously have to write off the entire loan balance.

Subordinated debt is only part of the bad debt story. In the early 1990s, with the collapse of the bubble economy, insurers played a role in almost every large, half-baked loan scheme. For example, they are lenders, they want to rent [housing finance company], and have to share the costly mess-up work. In addition, like banks, insurance companies rely on unrealized profits from shareholdings to help them in case of trouble. During the bubble period, small insurance companies bought this stock at relatively high prices. As a result, under the depressed stock price at the end of 1997, except for two medium-sized [tiers 9-16] life insurance companies, none of them achieved Net loss.

What future

Analysts have identified the following short-term challenges for the industry:

New market entrants
Profit pressure
Poor asset quality; and,

The recent high-profile closure of several life insurance companies has put pressure on life companies to urgently address these challenges in a identifiable manner.

The investment market is even worse than expected. Interest rates have not risen from historical lows. The Nikkei index has fallen since January 2001, and has fallen to a nine-year low after a recent terrorist attack on US soil. Unrealized gains have provided a certain buffer for most insurance companies in the past, but it depends on the insurance company. Relying on unrealized returns, the volatility of retained earnings is now affecting the level of capitalization, which in turn affects financial flexibility.

Table 1
Major risks facing Japanese life insurance companies

Business risk
Financial risk

Weak Japanese economy
Strong income pressure

Lack of confidence of policyholders to pursue quality
Low interest rates, exposed to fluctuations in domestic and overseas investment markets

Deregulation and increased competition
Poor asset quality

Insufficient safety net for policyholders
Insufficient capital

Accelerating the integration of the life sector with other financial sectors
Limited financial flexibility

Most analysts will probably agree that Japanese life insurers face problems with solvency and liquidity. The heavy contractual obligations assumed by policyholders, the declining return on assets, and the mitigation effect of unrealized returns on stock portfolios have little or no mitigation. All these factors have led to the uncertainty of some companies' sustainable viability. Many others, while apparently solvent, face the risk that they will have to pay off unstable policyholders earlier than originally planned. Solvency or liquidity issues raise questions about how insurance companies will manage their assets. Another factor that must be considered is Japan's aging population. As Mr Yasuo Satoh, IBM Japan Financial Industry Insurance Industry Program Manager pointed out: "The industry needs to change business models. They must focus on the benefits of life rather than the benefits of death, and they must emphasize Medicaid. And the long-term care sector because of the total population Is aging. "

Japanese life insurance companies are actively seeking larger segments, while seeking to establish unique strategies in traditional life and non-life businesses. In late 2000, the industry witnessed the emergence of a number of business partnerships and cross-border alliances involving large family life insurance companies. In view of the intensification of market integration, fierce competition and the full opening of the third sector business, the two companies are reviewing their involvement through the subsidiary's non-life insurance business unit, which was first allowed in 1996.

In the long run, Japanese insurance companies may establish business alliances on a shareholding basis. In the short term, the extensive integration of the Japanese financial market will also comprehensively reform the life insurance industry. Although domestic life insurance companies announced various business strategies in the second half of 2000 to cope with this drastic change, the actual benefits of each insurance company for various planned alliances remain uncertain. Further market integration will at least add value to policyholders, thereby providing more products and services. To be successful, life insurers must be more sensitive to a variety of customer needs while establishing new business models to secure their revenue base. Given the high savings rate of the Japanese population, the long-term prospects seem good. But in the short term, Japan is expected to see more insurance companies succumb and then tighten their profits through comprehensive reforms, prudent investment and disclosure regulations.