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Diesel Oil

admin — Thu, 14 Feb 2008 17:18:05 +0000

Diesel is one of the fractional distillate obtained during distillation of crude oil or petroleum. It is generally called petrodiesel, as it is obtained from petroleum, to differentiate it from other forms of diesel which are obtained from sources like biomass. It is obtained between temperature range of 200 °C and 350 °C during fractional distillation at atmospheric pressure. It has a density of around 850 grams per liter which is 15% less than that of petrol or gasoline with a calorific value of around 41 mega joules per liter which is also around 15% less when compared to the calorific value of petrol. Diesel is primarily used as a fuel in specially designed diesel engines which were invented by Rudolf Christian Karl Diesel, a German engineer and patented in 1892. Initially Coal Dust was used as fuel in Diesel engine and after that vegetable oils were experimented as fuel.
First diesel engine was commercially built by Adolphus Busch in the United States. After the end of World War I diesel engines which were used in submarines were made to adapt for peacetime economy by soldiers who operated these engines. ”Semi-Diesel’ engines were manufactured by modifying these diesel engines which were used in trucks in 1930s. Fuel injection systems were started to develop in 1922 by Robert Bosch and by 1927 an acceptable and efficient injection pump was produced. The demand for this pump was very large and manufacturing was outsourced to France and England to meet the demand.Diesel regulations were introduced in the late 1960s which further strengthen the development of better diesel engines with less emission and improved fuel economy.
The composition of diesel basically has major portion of saturated hydrocarbons such as paraffins and cycloparaffins and some portions of aromatic hydrocarbons such as alkylbenezenes and naphthalenes. It is also believed that diesel oil also contains some microbes which are capable of survival in closed tank and can feed on diesel fuel.
Diesel contains a high level of pollutants as compared to petrol which require it to undergo additional filtration. Since it can also be used as heating oil its demand in cold countries is quite high as compared to petrol and as result diesel is priced higher than gasoline in UK and many parts of US. Higher energy content of diesel and the internal efficiency of diesel engine make diesel a better fuel for cars which provides better economy and causes about 31% less polluted emissions as compared to gasoline.
Due to strict emission standards being imposed world over, the world is looking for cleaner fuels. Synthetic diesel has also proved to be cleaner fuel as compared to petrodiesel as it emits 30% less pollutants. Synthetic diesel is produced by drying and gasifying garbage, sewage sludge, straw, wood and corn which results in synthetic gas. This gas after purification goes through Fischer-Tropsch process which results in synthetic diesel by converting carbon monoxide and hydrogen into liquid hydrocarbons. Natural gas can also be used to produce synthetic diesel. Bio-diesel has also come up as an alternative fuel to conventional diesel which is produced from vegetable oils.
Over the last two decades the diesel technology has shown substantial improvements. Dynamics of innovations in diesel technology has been quite high in recent years. Evolution of direct injection technology has bought breakthrough in diesel technology which has resulted in improved efficiency of energy usage by 15-20% by improving injectors and increasing pressure of injection. Many additives are being used with diesel to improve its energy content and provide better fuel efficiencies. Presently Research and Developments in the fields of diesel technology are focusing on reductions of emissions which can be achieved only on the cost of reduced energy efficiency. Most of the current Research and Development work in field of diesel technology is focused mainly at marine transport and automotive transport and railways is also expected to follow.

BARCLAYS BANK

admin — Mon, 04 Feb 2008 04:22:50 +0000

BARCLAYS BANK

Barclays is a legendary word in the financial world in Europe and America. Of late it is becoming a household name in the rest of the world – especially Asia and Africa and Latin America. It is the 18th largest firm in the world as regards assets, financial service provider and ranks 15th in the banking industry calculating market capitalization. In UK it is the third largest bank. The headquarters of the bank are in London.

The Barclays story unfolded in the murky streets of 17th century London. In 1690 John Freame and Thomas Gould set up their business as goldsmith bankers in Lombard Street, London. In 1736 James Barclay, the son-in-law of Freame became a partner. In 1864 a new building for the bank was built on Lombard Street. In 1896 a big stride was taken when Barclays teamed up with 19 different banking bodies to form a joint stock bank by the name of Barclay and Company Ltd. It branched off into 82 locations having a respectable deposit of 26 million pounds. The bank because of certain connections often came to be referred to as the Quaker Bank.

Meanwhile with each passing year more and more mergers took place. In 1925 Barclays Bank began international operations by merging with Colonial Bank, Anglo Egyptian Bank and National Bank of South Africa. In 1961 it opened its first computer branch on Drummond Street, London. The first credit card in UK was introduced by Barclays in 1966. In 1972 Barclays was the first bank to make use of television advertising.

Today UK it has innumerable branches on high streets and of late it has teamed up with Post Office Ltd to expand personal banking services in the field of secured or unsecured loans. Most of the Barclay Bank branches have round the clock ATM services where cards from other banks can be used without paying extra charges. Barclay is a part of the Global ATM Alliance.

From 2004 Barclays has been sponsoring the Premier League (football) as also the Churchill cup from 2006. From 1987 it has sponsored the Football League till 1993.

Recently Barclay is having hiccups and on 30th August 2007 it had to borrow $3.2 billion from Bank of England (standby facility). The Barclay explanation was that the loan was necessitated due to a computer technical mix up. Barclay has no liquidity problems and in fact is flushed with it. However during the first week of November the shares of Barclay dropped by 9% and for a short time trading was suspended. There were strong rumours that Barclay’s fate was connected to the sub-prime crisis in USA. The subsequent release of figures showed that the bank write-downs at $1.9 billion were much less than apprehended.

Barclays Bank entertains 27 million customers spread across 50 countries. More than 127,000 personnel keep the wheels of Barclay running. In the first half of 2007 a profit of 4.1 billion pounds was returned thanks to the unique position of Barclays in the financial world, its increasing global presence and its ever-innovative management and staff.

Banknet India

admin — Sun, 03 Feb 2008 03:41:29 +0000

Banknet India

The aim of BanknetIndia is to circulate information about everything related to banking and finance online. Its website is ranked among the first ranking 25 banking sites and is included in the top global 20 banking technology website. Visitors to the site can participate in and know about latest news and policy matters.

BanknetIndia is promoted and operated by experienced bankers with a focus on knowledge, in depth research, community activities and conferences. It has a special section on publication and reports all specifically related to banking. BanknetIndia submits customized papers to its clients. Its partners in this matter hail form IIM Ahmedabad and NMMIMS and other prominent business schools of India. IIM Ahmedabad together with BanknetIndia have set up a Think-Tank to make up to date the latest in IT and then to see to its applications in various systems of the Indian banking network.

The laurels for the success of BanknetIndia go to Anurag Khanna who is the Chairperson and Managing Director of Banknet group. He has had a long experience of Indian finances and all through his work has taken him to probe into matters related to business promotion, credit and international finance as well as corporate banking. He made his debut in banking as a probationary officer with the State Bank of India. He took advantage of this to overview the various sides to banking. He also became the head of Fuji Bank’s corporate finance to make the bank the first of its kind as regards joint ventures in India in 1997. He is also a part of Indian Chamber of Commerce’s Information Technological Committee and judge and advisor for ZDNet Asia Smart50 awards. The latter was part of a move to identify the 50 top ranking business houses in Asia who are utilizing IT to push ahead and expand. It is little wonder than that Khanna is the Chief Editor of BanknetIndia.com.

BannetIndia.com website is styled to meet multifarious queries and demands. Apart from the informative Homepage,’ About-us’ and Disclaimer as well as ‘Contact Us’, there are headings covering news, banking, finance, technology, BPO, Events and even a Book Store to be found at the click of the mouse. Banknet organizes the largest conferences of the banking industry in India. As part of Banknet Group it has current information about research and data materials related to banking. It organizes 3 conferences annually as well as limited seminars focusing on current issues. Among the conferences it organizes are CTO Summit and Payment Systems Conferences. It has plans to start tele-briefings and events outside the country. BanknetIndia is a common platform where personnel from various streams like finance, finance and technology can exchange views with representatives from the industrial sector.

The Banknet conferences have brought together more than hundred CEOs. CTOs and various heads of business, panelists and speakers from RBI, IIB, IDRBT, IIM, NMMIMS and prime foreign as well as co-operative banks, technology giants from all over the globe. More than 500 financial bodies and companies from 20 different countries attended these conferences. Nearly 100 IT companies and financial groups from as many as 11 countries have supported the conferences.

FOREX MARKET

admin — Thu, 01 Nov 2007 09:18:15 +0000

FOREX MARKET
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The commonly known terminology â€œForexâ€ means Foreign Currency Exchange Market, where buying and selling of any foreign currency takes place.Â Simply put every one of us is dealing in Forex when we buy a foreign product or service and pay for it in the currency of our nation.Â Forex Market can be explained by illustrating the Share Market, where individual investors and institutions buy and sell shares listed in a Stock Exchange and in Forex the part played by individuals is minimal whereas financial institutions like Banks engage in Forex market day in and day out.Â Unlike Share Market held in a Stock Exchange during specified hours of business, Forex Market is operating 24 hours of the day â€“ Sunday to Friday.

The need for exchange of currencies between countries arises when trade and commerce takes place between the countries, whose currencies are being exchanged in large quantities. To understand the magnitude of Forex market today, suffice it to say that everyday the world market handles $1.5 trillions.
The official Foreign Exchange Market came into existence in 1973, even though the use of money on trade and commerce in the form of printed paper bills started from the Babylonian civilization period.Â There were money changers in the Middle Eastern countries who exchanged paper bills of other countries for coins of metals. The usage of paper bills, as we call them currencies, was much easier for traders and businessmen in those days to carry anywhere and exchange them for the products they buy in a certain country.
The Forex market was carrying on business with stability and easiness from the Middle Ages until the World War I.Â Though the Great Depression occurred in 1931 affected Forex market seriously, there was smooth sailing and increase of Forex market to manifold proportions from 1931 to 1973.Â Significantly, the Bretton Woods Accord emerged during the end of World War II and tried to stabilize the economical environment of world countries by pegging all currencies to the U.S. Dollar and pegging the U.S. Dollar to stock of gold valued then at a price of $35 per ounce of gold. The making of U.S. Dollar as the bench mark worked effectively in bringing back stability to the global economy.
In the later years of 1971 and 1972, the two attempts of Smithsonian agreement envisaging greater fluctuation band in currencies and the European community trying to veer out from the clutches of U.S. Dollar by establishing European Joint Float, which included Italy, France, West Germany, Netherlands, Luxemburg and Belgium, failed miserably. Thereupon in 1973 the free floating system of Forex which is prevalent even today came to stay. Governments all over the world are free to either peg their currencies to any specified currency, semi-peg them or allow foreign currencies to float freely inside their respective countries.
Yet another attempt by Europe in 1978 to create a separate European Monetary System, independent of U.S. Dollar also failed like the earlier agreements and fell apart in 1993.Â Today, the Forex market is handled by Banks, brokerage houses, hedge funds and individuals and speculative market is also indulged in when the situation so warrants.Â The Forex market basically revolves around the supply and demand theory and any one can buy or sell foreign currency of their choice at the exchange rates prevalent and announced on a daily basis by the financial institutions without any problem.

COINS

admin — Tue, 12 Jun 2007 15:31:52 +0000

COINS

A study in coins belongs to the stream of knowledge known as numismatics. It is usually made of metal and is in the shape of a disc. Governments use it as money in various types of transactions. These transactions may be from ordinary purchase of grocery to the stocking of vast amounts of bullion in banks. Previously coins were the only type of exchange in use but since it proved to be cumbersome to carry around discs with such weight, bank notes came to be circulated. Coins used in circulation are of lesser value than banknotes. There is also another point – the face value of coins is generally higher than the value of the metal, which has been used to make them.
In the world of coins the bullion coins or non-monetized coins made of silver and or gold are intended for collectors or for those who invest in precious metals. For instance the USA mints a gold coin known as the American Gold Eagle, Canada the Canadian Gold Maple and South Africa the Kruggerand.
History says that many types of metals and alloys have been used to make different types of coins. Bullion coin is exclusively for storage as against circulation of bank notes. A coin is valuable to the collector depending on its condition, historical value as well as its rarity and beauty. If any of these qualities are lacking then the coin is not worth much.
Today most coins are of base metal and their value depends upon its usage as fiat money. Fiat money means that the government declares by a fiat or law what is the value of the coin in the open market. Thus it is the free market in the international trade that determines the value. Thus coins become tokens just like bank notes.
Sometimes coins have fiat value, which is less than the value of its component metals. It is never done on purpose but only when the market value of metals overtakes the law declared by the government. For instance when smelters found that the metal is of greater value than its fiat value they began to melt it down. Today laws have been enacted to make it a criminal act to melt down coins. The fine imposed is extremely steep hoping that it will be a deterrent for further use of the practice.
Thus we see that coins may be of two types – the token and which is legal tender.
For a coin to be a true one, it must be made of valuable metal and close to the value in the market of that metal. Secondly the weight must of a given standard and purity. Last but not least it must be marked or stamped by the seal of the authority that has guaranteed its content.
History says that one of the first coins of the world was made in Lydia but except for one on which it is embossed “I am the badge of Phales” there is no form of writing on the others – only animal figures. The coins were found under a temple and a controversy is raging over the dating of these coins. Some say private individuals made them while others say King Croseus issued them. Arabic numbers were used on the first European coins and were made in Switzerland in 1424.
It is a well-known fact throughout time that governments issued more coins than they should – keeping in view the bullion factor. By diluting even a small fraction of its original metal the value began to be continually depreciated. Usually copper or nickel was used for this purpose. Price inflation invariable follows debasement of coins. The disease can be remedied only government controls.
In this matter USA stands out as a unique example. Only one-cent coin has been allowed to change since 1864. Despite a fall in its reducing power it is still very much in circulation. The largest coin is 25 cents. Recent appreciation in copper, nickel and zinc prices are beginning to tell upon the American scene also – slowly but surely.
The edges of old gold and silver coins had milled or reeded. It was originally designed in this manner to show that none of the valuable metal had been scraped off. Prior to this system the coins used to suffer from this shaving effect. The situation came to be so grave that the monarch often had to recall all the coins in circulation and send them to the mint again.
The obverse or the ‘head’ of the coin contains the bust or emblem of the monarch or authority. The other side is known as the reverse or colloquially ‘tails’. Of course this rule does not always hold good for all countries during all times. Some coins are not round but have an odd number of sides with smooth rounded off edges. The diameter of the coin however is constant and therefore can be recognized by any vending machine. An example is a 50-cent coin of Australia with twelve sides. The best example of symmetrical coin is the Belgian one-euro coin.
Coin flipping is a favorite in all sports circles or private bets. The custom is as old as the hills. There are some coins that can be struck only on one side because these are very thin. These are known as bracteates. Somalia and Poland once issued guitar and fan shaped coins respectively. The government mint in Canada can now bring out holographic-effect gold and silver coins.
With the coming of age of the plastic money or credit and debit card, perhaps the age of coins is fast coming to a close and only of value to the collector.