The ongoing Olympiad Games at Beijing have squarely put the host country China at the center stage of international economic powers. The cost of hosting the games has reportedly run into a staggering $42 billion, which is ultimately only a fraction of the $4 trillion which is expected to be China’s Gross Domestic Product in the current year.

A huge chunk of the $42 billion budget has gone into improving the infrastructure of Beijing like roads, subways, terminals and transport facilities. The new airport terminal at the national capital alone cost $3 billion. Another 71.3 billion yuan was spent in cleaning up the environment. Overall China has invested around 189 billion yuan in building up its infrastructural facilities.

The spectacular Bird’s Nest stadium where the Olympic Games were inaugurated was built at a cost of $500 million. Roughly China has coughed up around seventeen billion yuan in building stadiums, games venues and sports facilities. Among other magnificent venues for the games, is the Aquatic Center or the Water Cube.

While China can seem to afford the almost fifty billion dollar price tag of hosting the Olympics, it significantly raises the bar for all future sporting events. London is still four years away from holding the next Olympics and already comparisons have begun. The previous Athens Olympics had a slight $15 million budget in comparison but still it left the Greek economy in debt. Now it remains to be seen how future Olympic hosts are able to handle this enormous responsibility.

-Kalyani Mookherji

While the slow down in the US economy has had a negative impact on the job market as well, a survey of recruiting agencies has revealed that the demand for senior managers is very strong.

According to a survey conducted by the networking agency ExecuNet, almost 70% of executive recruiters say that though things don’t look too bright for entry-level executives, there is huge demand for managers who can run things at the highest level. The 2008 Executive Job Market Intelligence Report brought out by ExecuNet reveals that the biggest chunk of these job opportunities is located in the South and Southeast. The West and the Southwest of the country have respectively the second and third highest requirements of senior managers.

The primary reason why Southern and Southeastern US are the best job growth areas is because this is where the growing industries like healthcare, high-tech, pharma and energy sectors are concentrated. Aided by low costs in the South and Southeast, these sectors are expanding at a rapid rate and creating the biggest demand for senior-level managers.

At the same time the ExecuNet survey has revealed that it is not necessarily the biggest companies that are hiring the most. While those with revenues of $1 billion plus are hiring 12% more executive, companies with earnings between $51 million and $200 million have upped their hiring rates by 30% this year.

-Kalyani Mookherji

Oil prices in the US fell sharply last week. While in mid-July, crude oil prices seemed ready to break the barrier of $150 a barrel, they have now come below $120 a barrel. However it is possible that the declining oil prices may indicate a downside for the economy.

With crude oil prices almost touching $115 a barrel in the US, consumers at gas pumps have managed to breathe a sigh of relief. Gasoline prices have come down to $4 a gallon and experts on wholesale futures market feel that they could even touch $3.50. This fall has given beleaguered consumers, already reeling under the double whammy of rising prices and stagnant wages, a much-needed respite.

However, some economists feel that the fall in oil prices is in fact a sign of tougher times ahead. This indicates that the country may be finally on its way to recession as consumers drastically cut back on their spending, something which had provided the impetus for growth in the beginning of this decade. A slow growing economy will in turn mean more lay-offs and further put pressure on consumer spending.

One of the main reasons for the fall in fuel prices was the strong decline in demand. According to statistics provided by the Federal Highway Administration, the number of miles driven in America fell for the seventh consecutive month in May 2008. Americans driving less has also meant losses for auto giants like G.M Motors and Ford who are now shifting their focus on smaller and more fuel-efficient cars.

-Kalyani Mookherji

In yet another major stride in big-business technology, IBM announced its latest offering, Mobility@Work. This new service will combine the vast software and service divisions of IBM in order to give its customers all the major benefits of a personal computer on a mobile phone.

The new generation of business phones heralded by IBM’s Mobility@Work brings about an integration of the company’s extensive service network and its up-to-date software division. The result is a product which transforms the business phone into a pocket computer with better access to complex data and wider social networking features. IBM does not intend to restrict Mobility@Work to any one particular platform, rather it will work with iPhone, Blackberry, Symbian as well as Windows Mobile.

A number of companies meanwhile have already made their presence felt in the market for increasingly complex mobile phones. Apple’s iPhone, Microsoft’s Windows Mobile and the Blackberry from Research in Motion are proof that mobile phones can perform almost all the functions of a PC. Conversely Google, Salesforce.com and eBay are offering web-based applications in mobile devices. With the number of mobile Internet users set to hit 1 billion this year and more than two-thirds of the workforce using mobiles for computing , the market seems to be big enough for everyone.

-Kalyani Mookherji

Productivity data released in the US last Friday showed a marginal rise but economists warned that the figures masked a sign of economic distress. The country has been reeling under the impact of a housing market crisis and soaring fuel costs which have led to rise in prices as well as slow growth.

According to the most recent data, productivity in non-farm sectors grew by an annual rate of 2.2% in the second quarter. Even though this was less than the expected rate of 2.7%, still economists felt that they showed decent results on a four-quarter basis.

The 2.2% rise in productivity was constituted by 1.7% increase in output as well as 0.5% fall in hours put in. experts feel herein lies the rub, since productivity is arrived at by dividing the output by average number of hours of work. Thus in times of declining output, if employers lay of larger number of workers, the productivity will still seem to be high even if economy is in recession.

The news about rise in productivity data did not receive a direct response at the US financial market. The rise in dollar was attributed to the weakening Euro and the surge in stock markets was seen as an immediate reaction to the declining oil prices and a stronger dollar.

-Kalyani Mookherji

With increasing globalization, the business traveler of today has to hop to various destinations around the world. And the latest thing in business travel promises to be private business jets.

Soaring fuel costs notwithstanding, private jets have turned out to be the next item on the must-have list of the corporate honchos and the super wealthy. These jets offer luxurious air travel and come with a hefty price tag which starts at $3 million and can go up to $40 million.

most of the demand for private jets come from the oil-rich nations of the Middle East as well as from the rising economies of Asia like China and India. Rising industrialists from these regions are keen to experience the latest developments in business travel and do not mind shelling out millions of dollars. According to one estimate, 2008 will be the first time when more than fifty percent of total sales of business jets in the US will be outside the country

It is not just the rich industrialists who prefer to travel by private jets. post 9/11, as airport security gets tighter, more and more time is spent at airports in security checks. The regular business traveler is keen to avoid these delays and thus prefers to reach the business destination by private aircrafts.

The growing demand for business jets can be gauged from the fact that the total number of deliveries this year is expected to exceed 1200 and the industry will see sales of $220 billion in the next decade.

-Kalyani Mookherji

Ever since the Airbus 380 took off for its maiden commercial flight on October 25 2007, it has captured the imagination of travelers around the world. The Superjumbo, as it has been fondly nicknamed, offers a host of incredible facilities for its passengers and paves the way for a future generation of massive-sized jetliners.

The largest passenger airliner in the world, the Airbus-380 is a double-deck, wide-body and four-engine airplane. It can seat up to 853 passengers in an all-economy configuration while a standard three-tier plan can provide seating for 525 passengers. The plane has 50% more cabin space than a Boeing 747 which is the second largest aircraft.

The Airbus 380 has certain features which help anxious air travelers to calm down. It produces 50% less cabin noise as compared to a Boeing 747 and has a higher cabin air pressure which is equivalent to that found at an altitude of 1500 meters. Moreover the Airbus 380 comes with larger windows and head bins besides offering an extra two feet of headroom.

The Superjumbo is manufactured by the European company, Airbus which is a subsidiary of EADS. The commercial flights of Airbus-380 are currently being run by Singapore Airlines and Emirates Airlines. The price tag of each of these aircrafts varies from $317.2 to $337.5 million, depending on the specifications of the equipments.

-Kalyani Mookherji

One of the most common reasons for a job change in the corporate world is a boss who is difficult to work for. The person at the top may be a bully, someone who plays favorites, makes sexist or racist remarks, or simply a micromanager who cannot trust you to do a job well. But here are some ways to come to terms with a difficult boss.

Begin by keeping out your emotions and making an honest analysis of your performance at work. Perhaps it is possible that you have lost the motivation to do your best since the arrival of the boss. If this is the case then put your focus back to your work and the boss might change his attitude towards you.

A positive way to deal with a difficult boss is to take control of the situation with professionalism. If your boss repeatedly insults you in front of others, then calmly explain that putting you down will not the get the job done or may be you can schedule a meeting and try to resolve the issues affecting your professional relationship. Another option is to report to human resource department but it might cut either way. It is possible that your boss may be asked to mend his ways or perhaps you may be asked to take things in your stride.

Finally, be prepared to leave if you find that your boss’s unprofessional or even abusive attitude is having a negative impact on your health and personal life. If you are good at your job and willing to look hard for another position, there is no reason why you should sacrifice your health and peace working for a bad boss.

-Kalyani Mookherji

If your find yourself looking at auto magazines and surfing auto websites with increasing frequency, then perhaps your subconscious self is telling you something. There may come a time when your car no longer fits in with your needs. So, here are some ways to find out if it is time to change your car.

You can start by examining the mechanical condition of your present car. If regular maintenance and repair costs are topping the original cost of the car, perhaps it is time to think of other options.

Again, weigh your personal requirements against what your car provides now. If you are about to start a family and still driving a two-seater, then you may need to go for a bigger car. Conversely, if your children have left for college and the eight-passenger SUV is still parked in the driveway, may be you can go for smaller car.

With gas prices touching the stratosphere, it is prudent to give the mileage of your present car a rethink. If your car is too big for your needs and wastes gas, you could go for a more fuel-efficient car. But decide if in the long run an expensive car with better mileage will save more money than your present car with current fuel prices.

Finally check with your insurance agent if the cost if covering a newer car will be greater or lesser than your present vehicle. Even though this is not a prime factor in deciding whether to buy a new car, still the difference in insurance costs might be substantial.

-Kalyani Mookherji

In the corporate world, first impressions are of vital importance and one of the most immediate pointers of those is your business wardrobe.

However, herein lies an unfair difference between the sexes. While a businesswoman can have fun experimenting with business jackets, scarves and formal footwear, businessmen seem to be woefully limited to dark grey or navy blue suits.

The good news is, it need not be so. With a little bit of exploring and some sense of flair, a businessman can find his wardrobe wowing clients and co-workers alike.

While the business suit remains the most acceptable form of corporate dressing, one can still experiment with the fabric. A conventional suit in an unusual fabric will make you stand out from the guy next to you.

The choice of footwear is an area which affords greater freedom of style. One can go for shoes that appear expensive or have a unique look.

Again you can experiment with what your wear beneath the business jacket. Shirts, ties, waistcoats in bold patterns and attractive colors can make your wardrobe look distinctive and yet not over the top.

Do not ignore the small stuff. Unusual designs in accessories like watches, cufflinks, ties, belts can offer the biggest scope for an individual sense of style.

Finally keep in mind the basics of grooming. Nails, hair, teeth and skin should be clean and in sync with the overall appearance.

-Kalyani Mookherji