After a quiet night in theForeign Exchangemarkets in Asian trading, the markets opened today with some sell pressure on the pound particularly against the USD. The pound slipped from a touch over 1.48 down to 1.4760. This could be attributed to weaker consumer confidence data released last night- the May index fell sharply by 10 points from April to 65.
However the prospect of another Mervyn King speech tonight at Mansion House could be more on the button, spooking the sterling bulls. In the recent past, whenever Mervyn king has made a public address sterling has always suffered due to his negative but admittedly realistic sentiment on the UK economy. Data already released this morning focused on the UK jobless sector, the data was actually not too bad with May jobless claims in at -30,900 better than the forecasted -20,000. In addition the claimant count rate came in at 4.6% and the unemployment rate at 7.9%, again slightly better than forecasts at 4.7% and 8% respectively. A muted response to this morning’s data for the pound as the market is well aware that unemployment levels should suffer following the emergency budget next week. Look for the pound to remain subdued today ahead of Mr. Kings address later- in fact I would not expect any significant movement in the pound until after Tuesday’s budget.
The surprise in the international markets is the recent fight back of the euro which pushed to 1.2353 yesterday against the USD. This is despite further pressure in the bond markets- this morning we have seen the Spanish/German 10 year government bond yield widen to 218bps, this is a lifetime high and Portuguese/German equivalent widened to 312bps. The move higher for the euro despite the negatives looks reflective of a short squeeze in the markets to shake up what was a market biased on shorting the euro. This is a relief rally for international paymentsand transfers which I would not expect to be sustained especially if the bond markets continue to deteriorate. On top of this there is also news of disagreement to stress testing of the European banking sector with Spain in favour and Germany against, which raises the question why are the Germans so against the idea?
The USD has unwound some of its recent gains following a week with little excitement (like the World Cup so far) and no huge surprises leading to gradual appetite coming back into the frame. Later today from the US, the pick of which is the Producer Price Index, Industrial production and a speech from Fed chairman Ben Bernanke.
India’s biggest network, Reliance Group is known for its useful contribution in the field of education.Reliance Industriesis among the most illustrious corporate which have groomed a tradition of thinking for the greater good of the country. Walking in the footsteps of the founder, Dhirubhai Ambani, RIL chairman, Mukesh Ambani and his wifeNita Ambanihave been quite active in investing for educational initiatives. Reliance forayed into the field of education in 2003 by instituting the Dhirubhai Ambani International School (DAIS) in Mumbai. This school was established to provide education of the highest quality to almost 1000 students. After this set up, Reliance Group decided to open up more such schools in Mumbai and other metros.
Reliance started their move to offer quality education to the Indian students and also established the Dhirubhai Ambani Institute of Information and Communication Technology in 2001. In 2003, the status of the university was conferred upon this Reliance institute and in 2004 it was included in the list of universities maintained by the University Grants Commission. Ms. Nita Ambani, wife of Mr.Mukesh Ambaniled the project of establishing the ‘world class’ university with undergraduate, postgraduate and Doctoral courses.
This university will have tie ups with several international universities in order to offer world class education to the students. According to Ms. Nita Ambanithe university will be located either in Mumbai or Delhi and Reliance Group is looking for the space to set up this university. For all Indian students who have dreamt of pursuing MBA in one of the most prestigious B-schools in the world Stanford University, the Reliance Group has made it possible through starting the Reliance Dhirubhai Fellowship programme in 2008. Under this scholarship programme, Stanford awards five scholarships every year to Indian students.
Dhirubhai Ambani Foundation presents SSC merit rewards every year to top three meritorious students and one physically challenged students in Gujarat, and Union Territory of Daman, Diu, Dadra and Nagar Haveli. Ten meritorious students from each of the districts, selected by CBSE are also rewarded and this encourages the students to pursue further studies. These initiatives byMukesh Ambanicontrolled Reliance Group will help change the educational scenario in India and for the Indian students wanting to study abroad.
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People who are fascinated with places that have rich culture should go on an adventure vacation in Ghana, specifically the city of Cape Coast. The place, which can be found in the central region of Ghana, is a place that has a dark history of colonialism and slave trading.
But, its beautiful coastline that can be seen in the present does not have traces of the place’s dark history: the picture of millions of slaves that are shackled and leaving Cape Coast Castle to go to the New World. Now, the amazing coastline does not have a picture of the slaves but of fishermen who are catching various kinds of fish and other seafood for a living.
What is truly exciting about the Cape Coast city is that is gives you a wonderful feeling being out there in the vastness of the ocean. Imagine, isn’t it quite an adventure to walk though a large stretch of a dotted coastline where you can see historic architecture that bear European style, numerous ports that have specific good to offer, several trading stations where you can find rare and valuable items, and castles—some of them are ruined by time—that surround the 300-mile stretch of Ghana’s coast.
Those who are into heritage and rich culture of a certain place will definitely enjoy an adventure vacation in Cape Coast City especially of you get to see the UNESCO heritage site, the Cape Coast Castle and the 15th-century Elmina Castle as well as the Fort St. Jago, right beside the Elmina.
If you go beyond the coast, you will find out that the land is as charming as its coastline. Traveling by land, you can visit the Kakum National Park that boast of a rainforest that can easily be accessed. It has canopy walkways that allow people to have a panoramic view of the fauna as well as the animals including exotic kinds of birds, monkeys, and crocodiles.
If you are up for activities that would pump up adrenalin rush, you can book for a safari. You can also go trekking in the mountains, fishing for some good qualities of fish and other seafood, canoeing or sailing. For an ultimate adventure, try on being a Ghanian for a day by imbibing their lifestyle.
Everything sounds great but you will have to prepare some things before going off to an adventure vacation in Cape Coast city in Ghana including:
- the place to stay which can either be the Bridge House that is located across the Elmina Castle and the Biriwa Beach Hotel which can be found in a small fishing village called Biriwa. The accommodations usually range from inexpensive to moderately expensive. Breakfast is the only meal that is being served with the accommodation.
- how to get there because this will give you an idea of the place where you wish to experience your ultimate adventure vacation. There are actually two ways of getting to Cape Coast city—via air travel or land travel. If you are traveling by air, you can take Delta Airlines from JFK Airport in New York to Accra or you can travel by land by taking a taxi or cab from the capital of Accra which is 80 miles away from Cape Coast city.
- time of going there which will ensure the success of adventure vacation in Cape Coast city, Ghana. The overall weather condition in Ghana is hot and humid the whole year. It is best to go there from October to March because these are the drier months. The peak season is from August to December where majority of the activities are held. Don’t go in the months of April to July because this is the rainy season.