Since 1869, the Suez Canal has served as one of the world’s most important waterways, allowing convoys of large freights to travel easily between Asia and Europe without navigating around the African continent. The 193-mile artificial waterway took a decade to build and has seen multiple enlargements over the years. Today the canal supports 8% of the world’s shipping traffic and is used by the world’s largest shipping companies to transport goods. Of course, such convenience comes at a price, and it’s just been announced that the cost of transit on the Suez Canal will now rise by as much as 5%.
The Suez Canal Authority (SCA) in Egypt has implemented the following increases in tolls:
• 5% for ships carrying oil and petroleum products
• 2% for container ships and vessels transporting cars
• 3% for all other ships
Strengthening the Suez
The increase follows a number of recent studies conducted by the SCA, which took a close look at marine traffic on the Suez Canal as well as the waterway’s toll revenues; findings revealed that in 2012, the canal was used by a total of 17 252 ships and 932.43 million tonnes of cargo – ultimately yielding revenues of $5 129 600 000. With the Suez Canal accounting for a significant part of Egypt’s GDP, and a major source of foreign currency, the Government hopes that the toll increases will help to further boost toll revenues and avert a currency crisis. The worldwide effect on trade and shipping traffic remains to be seen in the coming months, but the increase could see more freight owners choosing alternative routes or weighing the cost of the Panama Canal against the Suez.
Rail and Road Links
The Government has also announced that plans are underway to build three tunnels under the canal; two of these 3km long, 12.2m wide) will be used for road links and one longer tunnel (5km long, 12.2m wide) will be dedicated to a rail transport project. This move is part of a larger regional development plan. Hatem Abdel Latif, Egyptian Minister for Transport, told press that the tunnels will contribute to expansion in North Sinai and complete the extension of the coastal road between Rafah and Nuweiba.
As Egypt’s foreign currency reserves begin to dwindle, it is vital that the Government protect this valuable source of foreign income, and look at innovative projects like the Suez Canal rail and road tunnel construction in order to strengthen the country’s economy and trade connections alike.
Rather Depressing Trend
Skate’s Art Market Research, which has observed the sector since 2004, recently published the first part of its ‘2012 Annual Art Investment Report’, which examines its Top 5000 ranking of the world’s most valuable works of art as determined by public auction price. In this latest report, the Skate’s team address the various changes that occurred in this premium segment of the art market by comparing the sector’s performance to 2011 as to artist rankings, sales volume and value, investment performance, and general changes in the ranking structure.
As reported by Forbes earlier this month, the Skate’s findings point at a new trend in the art investment sector. The conclusion of the Skate’s analyst team is that fewer yet wealthier people are buying more expensive art from a limited selection of established names. Confirming the trend, the total capitalisation of artworks in the research firm ranking climbed nine per cent in 2012, while the number of new artists appearing in the ranking declined to 38 in the past year from 81 in 2011.
Returns on Repeat Sales Down
Sales for the priciest of artworks ranked in Skate’s Top 5000 fetched $2.3 million (£1.4 million) and above, totalling $33.3 billion (£21.1 billion), with painters Gerhard Richter, Pablo Picasso and Andy Warhol leading the pack for most auction sales overall. Joining Richter, Warhol and Picasso, Jean-Michel Basquiat was amongst the artists in the category of most repeat sales above the $2.3 million mark in 2012, where only 118 sales of artworks in the ranking had appeared at auction before. The weighted average return on those repeat sales was 4.87 per cent, down from 7.2 per cent in 2011, with an average holding period for those works of 9.3 years.
2012 Biggest Gains and Losses
Skate’s art investment report also tracked the repeat sales in 2012 which generated the greatest financial gains or losses for their former owners. The highest return on a repeat sale was produced by Italian-born painter Giuseppe Castiglione whose work “An Imperial portrait of Consort Chunhui” generated a return on investment of 46 per cent after a seven-year holding period, selling for $4.5 million (£2.8 million). Not everything made money though. One notable loss was produced by Marc Chagall’s “La Musique” which sold for $2.1 million (£1.3 million) in 2012, producing for its vendor a 25 per cent loss after a one-year holding period.
As announced earlier this month, Skate’s will publish its ‘2012 Annual Art Investment Report’ in three parts. Towards the end of this month, the research group is set to publish the second volume which will focus on the global art industry, while the final part is expected to cover Skate’s predictions for 2013.
You can learn more about art investment here
When it comes to finding an investor for your business, you may have the mindset that whoever is willing to give you money under reasonable terms is acceptable. This line of reasoning is one of the main reasons why there are so many business owners that are forced to claim bankruptcy and permanently close down their business within the first few years of opening. It is imperative that you take the time to explore all available investment options before making any final decisions. Why else is this so important?
Beware of the Rabid Dogs of the Industry
If you walked up to a house that had a sign planted on the door that said “Beware of Rabid Dog”, would you eagerly try to get inside of the house without any sort of hesitation or reluctance? Of course not! Even if the door was wide open, you would still proceed with extreme caution in order not to become a victim of the dog that may be lurking in the shadows somewhere. This is the same mentality that you should have when searching for investment opportunities for your business. There are quite a few rabid dogs that are lurking in the shadows of the industry overall, ready and waiting for your first moment of weakness so that they can pounce and attack as soon as possible. That is why it is so important that you proceed with caution while exploring any option that may seem to look too good to be true, even if it seems as if the door is wide open for you to come right through.
Rush to the First, Miss Out on the Second
One of the main problems about the decision-making process overall when it comes to businesses is that it is extremely easy to be in a rush. You may have an extensive list of other needs that need to be fulfilled and responsibilities that need to be handled on that particular day, so finding the first investment option that meets your needs may be the only thing that you have on your mind. Once you find the first team of private investors that are right up your alley, for example, then you will scratch that off of your to-do list immediately and move on to the next item listed. However, if you are in such a rush to sign up the first one that seems to meet your needs, then you are automatically shutting yourself out from any other team of private investors that may be second, third or even fourth in line after that first one that would have been an even better fit for your business. You have to be patient and realize that waiting is all part of the process.
Do Not Hesitate to Ask for Assistance
Another valid point to keep in mind is that you do not have to make these decisions on your own. It is recommended that you invest in the expertise of professionals that are qualified and trained to be able to help you with making these types of decisions. They may be able to help you in finding a great deal on a great investment package that you would have overlooked without their quality guidance.
This article was written by Robert Rayford, an experienced content writer that also has a thorough background in financial consulting. He has worked directly with private investors along with other investment companies throughout his career, which is why he enjoys teaching consumers and business professionals about the ins and outs of this industry through his articles.
Tags: business, decision making, economy, entrepreneurship, finance, investments, money
Financial Planning, Forex, Investment, Money, Personal Finance, Trading
Aside from the obvious benefit of a reduced sentence, there are a number of benefits to accepting a plea bargain. Plea bargains often pose advantages to both sides, both the defense and prosecution. Time, money, and hassle are saved for both sides of the legal process. There are also several benefits the defendant should keep in mind when considering a plea bargain.
Faster Outcome
A criminal trial can be a long, expensive, and emotionally traumatic experience for a defendant. Plea bargains allow you to skip the extensive trial procedure and move right into the sentencing phase before a judge. You will know the outcome of the conviction much sooner than if you had to go through an entire trial, without needing to pay attorneys’ bills throughout the trial process.
Leave Jail
Defendants unable to get out on bail, whether bail was denied or is too expensive, will most likely need to stay in jail for the duration of the trial before being released or transferred to a prison. Once a plea is entered and accepted, you will be sentenced and moved out of the jail. Leaving jail could mean going home or starting a sentence in a prison. While prison may not seem like a good place to be, they are almost always better than jail.
Lesser Charges
A plea bargain often involves pleading guilty to offenses less serious than those you were charged with initially. The prosecution will reduce the charges, or remove some altogether, as a way of making the plea agreement more attractive to the defendant and increasing the chances of a fast conviction.
This is an especially important benefit of accepting a plea bargain if you are being charged with crimes that can be personally, socially, or professionally damaging. A lesser related offense can keep you from needing to continue feeling the negative effects of a conviction even after you have paid your debt to society.
Shorter Sentence
A plea bargain that results in you entering a guilty plea to lesser charges can also result in a shorter sentence. Not only are the required minimum sentences shorter for less serious crimes, many judges are more likely to show leniency to a defendant willing to accept responsibility and avoid a lengthy trial. A plea bargain can help you reduce the time you will need to serve.
The benefits of accepting a plea bargain affect your life in both the short and long terms. By accepting a plea bargain you can avoid the embarrassment of a trial and potentially shorter the sentence you will receive. Always consult with a lawyer before accepting a plea agreement.
Mike often writes articles to help explain the confusing criminal justice system. While he tries his best to explain the laws, he believes that hiring a criminal defense attorney is still the best way to go if in legal trouble.
Tags: attorney, bargain, economy, law, legal, money, savings, tips
Budgeting, Business, Financial Planning, Forex, Investment, Law, Money, Personal Finance, Trading
Statistics have shown that the majority of failed small businesses lack underfunding and adequate capital investment. As a small business owner, it can be difficult to find the right funding source to meet the investment levels that will ensure your business has a fair chance for success in the market. A merchant cash advance is an alternative cash source that may be an ideal way for your business to get the funding it needs without the added risk of a conventional loan.
Is a Merchant Cash Advance the Same as a Loan?
When a small business loan is contracted by a business owner, the principle amount is paid back through payments that include interest. The interest rates on small business loans tend to be less reasonable for new businesses simply because they lack the merchant credit history that is required to garner a low interest rate. Merchant cash advances are different from loans because they are based on a flat fee rather than interest. The money is paid back automatically without further action by the merchant.
How Does a Merchant Cash Advance Work?
Any business that has accepted credit card sales for more than 60 days is typically eligible for a merchant cash advance. The provider in this case is known as a factoring company. When applying, the factoring company will agree to a lump-sum payment to the applicant business in the form of an agreed amount. The business owner is then free to invest the new capital into his immediate operation. The factoring company then retrieves the investment from credit card sales payments that are made to the merchant from credit card companies in lieu of that merchant until the full amount of the cash advance and the flat-rate fee have been retrieved.
What Are the Benefits to a Merchant Cash Advance?
The most significant benefit is that the flat-rate fee associated with the transaction is highly competitive with interest rates because it does not continually accrue over the duration of the outstanding debt. Another benefit is that the risk of repayment default is lower due to the fact that the initial principle is retrieved according to the natural influx of credit card receipts. The principle is not based on a strict, predetermined timetable.
The merchant cash advance is intended to stimulate an immediate cash flow investment that is then repaid at a prorated pace according to credit card sales. The majority of small businesses that need extra funds can benefit greatly from merchant cash advances.
Fred often writes articles on how small businesses can improve their cash flow problems. He believes that a merchant cash advance company can be an excellent solution for many companies in this situation.
Tags: business, cash, cash flow, credit, debt, financial planning, money, trading
Business, Investment, Money, Trading
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Since 1869, the Suez Canal has served as one of the world’s most important waterways, allowing convoys of large freights to travel easily between Asia and Europe without navigating around the African continent. The 193-mile artificial waterway took a decade to build and has seen multiple enlargements over the years. Today the canal supports 8% of the world’s shipping traffic and is used by the world’s largest shipping companies to transport goods. Of course, such convenience comes at a price, and it’s just been announced that the cost of transit on the Suez Canal will now rise by as much as 5%.
