IMF Executive Board Selects Christine Lagarde as Managing Director

The Executive Board of the International Monetary Fund (IMF) today selected Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term starting on July 5, 2011. Ms. Lagarde, who succeeds Mr. Dominique Strauss-Kahn, is the first woman named to the top IMF post since the institution’s inception in 1944. 

The selection of Ms. Lagarde by the 24-member Executive Board representing the IMF’s 187 member countries brings to conclusion the selection process initiated by the Executive Board on May 20, 2011 (see Press Release No. 11/191). According to the agreed procedures, the Board had agreed to meet with Mr. Agustín Carstens and Ms. Lagarde for the post. The candidates met bilaterally with Executive Directors, as well as the Executive Board, during June 20-23, 2011. In these meetings, Mr. Carstens and Ms. Lagarde had the opportunity to present all relevant information concerning their specific candidacies.

The Executive Board agreed that both were well qualified candidates and the objective was to select one by consensus. Based on the candidate profile that had been established, the Executive Board, after considering all relevant information on the candidacies, proceeded to select Ms. Lagarde by consensus. The Executive Board looks forward to Ms. Lagarde effectively leading the International Monetary Fund as its next Managing Director.

The Managing Director is the chief of the IMF’s operating staff and Chairman of the Executive Board. The chief executive is assisted by three Deputy Managing Directors in the operation of the Fund, which serves 187 member countries through about 2,700 staff from more than 140 countries. 

Ms. Lagarde, 55, a national of France, has been the Minister of Finance of France since June 2007. Prior to that, she served as France’s Minister for Foreign Trade for two years. Ms. Lagarde also has had an extensive and noteworthy career as an anti-trust and labor lawyer, serving as a partner with the international law firm of Baker & McKenzie, where the partnership elected her as chairman in October 1999. She held the top post at the firm until June 2005 when she was named to her initial ministerial post in France. Ms. Lagarde has degrees from Institute of Political Studies (IEP) and from the Law School of Paris X University, where she also lectured prior to joining Baker & McKenzie in 1981.

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New Breed of investors

The report, Anticipating a New Age in Wealth Management, includes findings from PwC’s 2011 Global Private Banking and Wealth Management Survey and shows that new competitors are challenging the dominance of established firms.

It also reveals that the impact of new regulations and more demanding client expectations are forcing private banks and wealth managers to change their client service infrastructures and the way they operate. Those who can master change will be in a position to win increased market share and lead the industry, says PwC.
 

Regulation has become the not so invisible hand, increasing the cost of operations while greater operational efficiency and effectiveness are required, not just to compete but to survive in the changing market place.

The report says that standing still is no longer an option and institutions must now quickly adapt or face being left behind.

New IT Solution for Banks

Smart phones and tablet devices now outnumber personal computers 

At the start of 2011, the number of smart phones and tablet devices sold outstripped the number of desktop and portable personal computers. Sales of smart phones and tablets are expected to more than double by 2013. This trend places entirely new demands on how to deliver internet-based services for Norwegian consumers, and many of the solutions currently in use will have to be redesigned. This also affects traditional internet banking. A group of technology specialists at the Norwegian IT company EDB ErgoGroup has been working for some time on developing the next generation of internet banking for mobile phones. The new solution, known as Mobilbank 2, has been developed to anticipate the way that that EDB ErgoGroup expects customers to use their handheld devices looking 2-3 years ahead. The company's work anticipates the rapid spread of handheld devices. "Development work in this area is no longer driven by traditional internet banking. We now think of mobile banking first rather than the other way round", explains Ann Merethe Lysø Sommerseth.

The new solution uses graphic elements and visualisation to give banking customers an entirely new experience of mobile banking. EDB ErgoGroup has chosen to turn its back on the most widespread approach to development in this area over recent years, which has involved adapting "native apps" for handheld devices. It has instead developed Mobilbank 2 as a web application based on web technology using HTML5. This makes it possible to develop a single solution for all types of mobile phone. It has also made it possible to develop an entirely new user interface.

"We think that future trends will increasingly favour web applications. Using web applications means that the entire value chain, from customer and supplier through to developer, no longer needs to deal with a range of different applications and adaptations depending on which type of telephone and operating system is used. With web applications, the lead time from the start of development to delivery of a new product is much shorter, and the entire development process is more cost effective", explains Ann Merethe Lysø Sommerseth.

"When touch phones such as the iPhone and Android came onto the market, they changed the way we use our mobile phones. This means that banks also need to respond to the new ways these devices are used. We have paid a lot of attention to the user experience in our development work", says Ann Merethe Lysø Sommerseth. She goes on to explain that EDB ErgoGroup has now developed a solution that is at the leading edge in terms of interactive design. This technology has so far typically been used for entertainment applications, but it is also perfect for banking services.

Singapore set to become top private banking center

Hi guys, I have recently been rejected from the double degree programme, despite obtaining straight As for my first year in the University.


However, I will use all my strength and concentrate into banking from now onwards.


Hence, I will be reading a lot of articles to keep track of where banking is heading both in Singapore and globally so that I will be able to perform in future interviews as well as in my work next time.


So I will kick start with this short article below.


Enjoy

SINGAPORE will become the world's top wealth management centre by 2013, thanks to growth in emerging markets, and the decline of Switzerland and London in the wake of tougher regulations.

The findings came from a PricewaterhouseCoopers (PwC) report out yesterday that pointed to the changing balance of power in financial markets.

It said Singapore will leapfrog both European centres in the next two years, with Hong Kong in third spot behind Switzerland and ahead of London.

The findings in PwC's Global Private Banking and Wealth Management report were based on a survey of wealth managers and private bankers between December last year and April. The questionnaires were completed by 275 institutions in 67 countries - 62 per cent from Europe, 24 per cent from the Americas and 14 per cent from Asia-Pacific.

'For many years, we have asked respondents to indicate which financial centres they viewed as the main wealth management and private banking hubs,' PwC said. 'The historical answer was Switzerland, London and New York. This is now changing. This year, we asked our ranking question again, but we also explored the impact of increased regulation.

'In response to increased regulatory pressures, our respondents see Switzerland, London and, to a lesser extent, New York all being challenged by the rise of Singapore and Hong Kong in the coming two years.'

Goldman Sachs

Goldman Sachs Group Inc. (GS) is advising clients to avoid delaying investment decisions for Russia until it becomes clear who will be the next president in elections in March.

“There’s not a lot of wisdom to wait,” said Christopher Barter, co-chief executive officer for Goldman’s Russia unit, at a conference in St. Petersburg today. “Our advice to clients who think there could be a dramatic change is not to wait. The opportunities are enormous and valuations are very attractive.”

I think this is a really good point by Goldman Sachs, don't ever let any opportunities slip due to delays.

While there is good reason to wait to see who is going to be elected as President (mainly because every Presidents have their own perspectives on where they think the economy is heading and which industry to invest in). Say for example, if the President is interested in oil, then the oil investors will definitely be investing massively into Russia and conversely, if the President is interested in banking, then of course, all the banks will head towards Russia.

However, Goldman's advice on how people should not delay their investments is an ideal solution. Particularly when the Russian market is so lucrative and attractive now, one should not wait because it might just turn around in a split second if you miss the opportunity. 

The market is so dynamic that it is almost impossible to follow closely to it and to be able to predict all the trends is even more of an arduous tasks.

Nevertheless, Goldman too recommend investors to not just look at Russia but also to look at the market of China because it is pretty stable now and it is going stronger since it is continuously storing up reserves and currencies of other countries.

Goldman Sachs and JPMorgan are definitely 2 top employers in the field of investment banking and I'm definitely very interested to join them in the near future. Of course, the remunerations are extremely attractive but they will only take the best of the best so this definitely presents a massive challenge to me. Nonetheless, I will continue to work hard in my studies and hopefully one day, make a name for myself.

GSL Super Tournament Grand Finals

The time has finally come.


The one on the left is PoltPrime.WE


The one on the right is SlayersMMA


They both have come a long way from the round of 64


In the semi finals, SlayersMMA lost the first 2 matches but he persevered and made a comeback and won the next 3 matches.


As for PoltPrime.WE, he won the first match, lost the next 2, but again, made a comeback and won the last 2, winning 3-2, proceeding into the finals.


From their matches, I learnt that one should never ever give up no matter what.


No matter how far behind you are, there's always a possibility of a comeback.


As the commentators mentioned, when you think you are behind, try to play catchup and play to the best you can.


Never assume that just because you are behind now, you will be behind forever because that will only happen if you assume that your opponent will play perfectly and you will never catch up.


That is very much often not the case. Your opponent is bound to get complacent as they get ahead and this is your chance to fight back as hard as possible.


Hence, I learnt that we should never assume that it is impossible to fight back because nothing is impossible and starcraft II has shown me that  !


The GSL Finals will start at 2:10pm, may the best man wins !

Justin Bieber Justin Timberlake gets advice from

The former member of 'N Sync "Justin Timberlake said about the transition that suffers from a teen star when it grows and becomes an adult, the singer has lived experience that situation.

The American interpreter, who first participated in the band's "Mickey Mouse Club," and with 30 years back, Justin Bieber has said that Usher has a great mentor to guide you through the world know of Fame.

The ex-boyfriend of Jessica Biel told Playboy magazine: "It's obviously a talented guy. I just hope he has a good support system, because ... it is difficult to grow in public. Sure Usher will show that success and fame now go on forever. "

Finally, Timberlake said: "The young guys growing in fame need to have clear objectives and realist. They need a plan, and someone like Justin Bieber should be thinking about that now. Otherwise, before you know it account any other boy, more boy than you, take your place in the favor of the public that adores you now. "

- Our Comment: We hope to do well in Bieber everything and have much more success in your life. a greeting from here.

Irina Shayk, CR7 Bride burning stars in video

The sexy Russian model Irina Shayk not only pleases her boyfriend, Portuguese footballer Cristiano Ronaldo, as much to the delight of hundreds of fans, star just burning a video with images that will raise the temperature to anyone.

The erotic scenes are part of advertising campaigns for fashion house Armani Exchange, where the curvaceous woman is the more representative "hot" brand into tiny pieces and tight to the body.

With 86,5-58-88 measures, the bride's best known CR7, looks fine either in a bathing suit, lingerie or even jeans, always surrounded by burly guard models to one of the sexiest women on the face Earth.

Work At Mercer

Hi guys, sorry for not posting here for such a long time.


Just to update you guys, I'm currently working at Mercer, in the Health and Benefits Division.


I have just completed one week of the internship and throughout the entire week, we were just opening letters and filing documents in the respective files in the compacter room.


To be honest, we were damn saddened by what we have to do, I mean filing? You can get primary school students to do that and we are undergraduates and yet they ask us to do filing.


That is so degrading.


Some of my colleagues were even thinking of quitting.


But today, the team leader came over to tell us that it is actually learning bit by bit and its all about the attitude.


Even though we are now doing filing, we are actually learning about the process, what the department do and what the documents look like and how they are actually drafted.


So, it actually helps according to her but we though she was just talking rubbish because she's probably just smoking us.


How can filing be meaningful man? You go and tell that to the future employers and they will laugh until they die.


But she mentioned that she will put us into the FUN Committee to brainstorm for ideas that will help motivate the employees because it is a very stressful environment over there as everyone is busy and rushing over their work.


Hence, we have to start thinking of some things to help them release some of their stress.


I thought finally, we are doing something great for the company and this will definitely be helpful in our resume.


Also, the team leader mentioned that she will assign us more work in the future and involve us more in the task. She say that she want to maximise the interns here, to let them learn as much as possible, particularly because we are all undergraduates so we definitely possess the capabilities to do a good job.


I'm really glad that she has taken note of that because if we were to do filing for the rest of the internship, it will seriously be boring as hell.


Oh well, I am definitely looking forward to the next 7 weeks and I hope that there will be more jobs coming towards us :) :) :)

googlyeyedfruit.

MuLbErRy//resort 2011

so freaking adorable.

{via style.com}

Broccoli - a weapon against cancer

Health experts are still focused on getting the cure for cancer, now evil attacks many human beings regardless of their age or condition.

On this occasion, a group of U.S. experts found that a compound in broccoli, not only contains anticancer properties, but at the same time, can selectively kill cancer cells without affecting healthy cells.

This compound is known as sulforaphane and found in other cruciferous plants.

The researchers belong to the Oregon State University and determined, for the first time that this compound is safe and could be used to develop a treatment against the disease, particularly prostate and breast cancer.

The cancer cure, not just a dream but a reality

He explained that the detection of polyps and tumors can be removed by simple methods, also by endoscopy, achieving a cure. Said one of his patients was the athlete Seró Leon, "who healed of cancer. We went for another reason, an absence that still regret. But we had colon cancer cure. "
He noted that in cases where the person has a family history, the controls 40 years ahead and, if they had had a polyp or tumor, the test is repeated at 5 years. "But today no one should die of cancer," observed the health professional. To add that in this case are appropriate recommendations on healthy eating with fruits and vegetables and physical activity, and improving the quality of life and strengthen the immune system. "We do not yet know the origin of cancer, but if there are factors that favor its development and use of snuff, alcohol, foods with many meats, salty," he added.

The need to take preventive exams that are currently available for people with and without social
men and women over 50 should have a videocolonscopía to prevent this type of cancer like breast female priest also took time.

Justin Bieber gave autographed guitar children of David Beckham

Bieber is the idol of the son of soccer star David Beckham, for anyone that's a secret to the point that Romeo (name for the child) when Beckham was asked what name he wanted for his brother if he were a man? Replied: "Justin Bieber Beckham. " This caused amusement to David and then asked, What if you were a woman? To which the boy replied: "Justin Bieber Beckham. "

The young star known admiration not only Romeo but the other children and sent them an autographed guitar, and David's wife sent him a grateful Mother Twitt through the famous social network Twitter. Justin Bieber cordially greeted the former Spice Girl Victoria considered together with her ​​sexy husband one of the sexiest women in the world.

Notice that David Beckham that he shared with his audience about his son Romeo, was what made ​​Justin Bieber savored his number one fan. We are witnessing the humility of this star that captures global attention, but it takes time to acknowledge the signs of affection of his millions of fans.

Apple's New Spaceship

Apple plans to build a new campus with a circular building that looks a spaceship, big enough to house 12,000 employees. The campus, near Apple's existing headquarters in Cupertino, California, will generate its own energy.

The company has 12,000 employees in the Cupertino area, in its headquarters at Infinite Loop and in other buildings, Jobs said. It plans to retain its existing headquarters building, but needs new office space to accommodate employees, he said.

The new office building will be of "human scale" size, about four stories high, Jobs said. About 12,000 employees in one building "sounds rather odd," Jobs said, but said that the campus is necessary to keep up the company's pace of growth.

Apple plans to build an energy center that will generate primary power for the new campus, and the company will rely on the grid for backup power. That will help the company use power from natural gas and other cheaper and cleaner forms of energy.

A lot of the current land on the campus is asphalt parking space, and the new campus will be greener, Jobs said. The company wants to landscape 80 percent of the new campus, up from 20 percent, and put most of the parking underground.

"The word spectacular would be an understatement. I think that everybody's going to appreciate what clearly is going to be the most elegant headquarters at least in the U.S. that I've seen," said a council member and former HP employee, Orrin Mahoney, after Jobs' presentation.

 

 

First of all a big sorry for the lack of posts, but I have many exams and presentations this last month. In my free time I usually try to keep a social life and search for fashion inspiration. So I stumbled upon the new resort collection of Burberry Prorsum. For this collection, Bailey took inspiration from African tribal prints: rows of colored wooden beads, shoes with tribal necklaces on (really liking the shoes!). The fabric, which is reminiscent of the wax-print technique used in Ghana (going there for a couple of months soon) appeared on many trenchcoats.   The trenchcoats and its colours were refreshing: the turquoise-, orange-, and green-flecked patterns which are cut tight into a ruffle-fronted, knee-length dress, and appear in a short A-line, sixties-inspired cotton raincoat. Bailey: "We really wanted to emphasize this feeling of artisanal and decorative pieces that had been touched by hand, celebrating craftsmanship but always with this playful element." And he certainly did just that and makes me want to have an array of these coats in my closet.

*What about you?*

Vogue.com

Results

Above is the set of my results I received yesterday

I must say that I am extremely happy

For people who do not know, I like to check my results module by module. I will use papers to cover up e rest and I will slowly reveal the grades for each module by moving e paper bit by bit to check e letter grade.

First off, AB103 Statistics

I think this came as the biggest surprise. The thing about NTU results is that the A- and A+ are aligned to the left if you noticed.

Because I was the least confident for Statistics, I checked it last and when I saw it was aligned to the left. I was thinking in my head, its either an A- or A+. But what are the chances of me getting an A+?

Considering that my 2 case studies, I got B and A- respectively.

So I was thinking oh well, its definitely an A- and when I saw an A+, I was totally blown away.

Yeah, so I must say that I am super happy for Statistics.

Next, AB106, Economics.

I was confident for this module but for the final examination, I thought I kinda screwed up some 5 marks question and because in Economics, the bell curve is uber competitive, I was a little nervous and scared.

So I thought I might get an A- but end up I managed to achieve an A which was definitely a relief.

I did well for my 2 quizes in which i got 9/10 for both quizzes, a total of 20%.

And for class participation of 20% I think I did well too. Hence, I was pretty confident for Economics.

But like I said, I heard that the bell curve for Economics is really tough, so I was still a little apprehensive beforehand.

Next AB105, Organizational Behavior.

I managed to get an A for my critical thinking which was 20%

I also managed to get an A for my ethical reasoning which was 20% as well.

For the final examination, again I gave away question 1a unfortunately so I was thinking. Will it cost me my A? But then I was thinking again, hmmmm maybe not because I have 2As for my 2 essays which has a weightage of 40% so I should be pretty safe.

Turns out I managed to get an A for my Organizational Behavior too. I'm really happy about that.

Next AB112 Marketing.

This is one major ambiguity. Why? Because there were no examiner's reports to refer to. Hence, I do not know how to understand the questions in the final examination appropriately

The questions were worth 15-20 marks and that's really scary if you do not know what to write.

What should you write to get the maximum marks?

I was pretty panicky initially but at the end of the day, I was thinking, you know what, I should just go ahead and write whatever I know.

End up, I even requested for an additional booklet to write and I was definitely really proud of myself for achieving an A.

I think getting an A for Marketing is definitely an achievement in itself because it is so content intensive, filled with a plethora of concepts and presentations.

Finally, AB114 Communication Fundamentals.

Basically, this module is about email writing and presentation skills.

I managed to score high marks for my presentations and my email writing so I was the most confident for this module.

In fact, I was really aiming for an A+ for this module because I thought I did really well for the coursework.

Yeah, so once again we have come to an end for yet another semester.

I'm appealing for my double degree programme in Business & Accountancy and I hope that I will be able to get it.

See you all.

I will work harder for Year 2 Semester 1 because the competition will be stiffer

downtown.

vogue paris//june 2011

love the chic.homeless.menswear.feminine.inspired feel of this shoot

{via iknowwhatyouworelastseason.}

Chile volcano ash cloud shifts direction

A thick plume of ash from the erupting Puyehue volcano in the Andes shifted direction into Chile on Sunday after spewing volcanic dust over parts of Argentina.

North-westerly winds pushed the giant column of ash from the Chilean volcano, located 870 kilometers (540 miles) south of the capital Santiago near the border with Argentina, into Chile's Lago Ranco area.

The eruption forced some 3,500 people to be evacuated from 22 rural Chilean communities.

"This change means that we will have ash falling in the area, with damage to the population and a threat to small farmers," Lago Ranco Mayor Santiago Rosas told AFP.

The volcano, located in the Andes 2,240 meters (7,350 feet) above the sea level, appeared to have largely gone quiet on Sunday, though Chile's Office of National Emergencies (ONEMI) said it was experiencing a "moderate" level of erupting.

The Puyehue rumbled to life on Saturday after showing no activity since 1960, when it was awoken following a magnitude 9.5 earthquake.

"There are some people, especially heads of family, that have decided to stay home and take a risk. The government, for the time being, will not interfere in that individual decision," said the regional governor in Chile, Juan Andres Varas.

The eruption forced the nearby Argentine resort town of Bariloche, population 50,000, to declare a state of emergency on Saturday and close down its airport.

The eruption also forced a major border crossing point to close due to low visibility, an dropped ash on the upscale Argentine resort town of Villa La Angostura.

Bariloche, located about 100 kilometers (62 miles) east of the volcano, had covered in a sooty blanket of several centimeters (inches) thick and remained under a state of emergency.

The picturesque town, as well as others in the vicinity affected by the ash, welcomes thousands of foreign tourists each year to its lakes and mountain scenery, as well as ski slopes in the winter months.

Chile has some 3,000 volcanoes, of which some 500 are geologically active and 60 have erupted in the past half century.

In 2008 the eruption of the Chaiten volcano, also in southern Chile, spread a thick cloud of ash across a large swath of South America, grounding flights across the region. Ash from that eruption drifted east as far as the Argentine capital of Buenos Aires.