Obama should remove export and visa restrictions, report suggests

A report published by the National Research Council urges Obama to remove export and vis restrictions which make it harder for academics, scientists and businessen to travel to the United States and thus stimulate its economy, the AFP says.

“To reform visa controls and grant US businesses access to the most talented scientists, the report recommends streamlining and including “skills-based preferential processing” in the visa application process to facilitate entry into the country for foreign researchers and students.

Foreign student visas should also be extended so that recent graduates can properly search for work with US-based employers, the report recommended.”

This is a golden opportunity for Malta to strengthen relations with the world’s largest economy after it joined the US Visa Waiver Programme on 22nd December 2008.

Are Brits past their best-before date?

Did you ever taste Nutella past its best-before date? According to Brits, it tastes even better in times of crisis.

News which appeared yesterday on The Financial Times shows how British web site selling foodstuff which is past its best before date has registered a tenfold increase in its sales since the start of the financial crisis.

Elizabeth Rigby and Jane Croft report how Approved Food, a Sheffield based web-site, is selling like crazy.

Tough times ahead for the fine stomach.

Principles fashion stores owner in financial woes

Items bought from Principles might become a rare species as The Guardian reports that Mosaic, owner of fashion store chains Principles and Oasis is in financial trouble. 

Mosaic, an Icelandic company, is feeling the brunt of the financial crisis which led Iceland to ask for help from the International Monetary Fund, the equivalent of a bank which nations resort to when in need.

The company told the Kings Cross-based newspaper that it is currently in talks with banks  over its long term financing.

Will Obama manage to change the economy’s direction?

Obama’s counting on cross-party support in Congress as he says today his plan might create up to four million jobs in the US.

Unemployment rate in the US is at record low since WWII after more than 2.6 million Americans lost their job in 2008.

China to help 74 million poor, not MSN

China Daily reports that the Deputy Minister of Civil Affairs announced a plan aimed at giving poor families in urban and rural China a bonus of around €10 (Yuan 100 – 150). Old party members will however get 180 Yuan to stave off the crisis that is hitting China. It is estimated that more than 74 million Chinese will benefit from this initiative.

However, as this video shows, there are more than 74 million Chinese deeply under the poverty line:

Meanwhile the same portal reports that the Chinese government released a list of web sites spreading immoral content, including pornography. This list includes Microsoft’s MSN China.

Maserati sells 17% more cars in 2008

Some good news for carmakers. ANSA reports today that Italian luxury carmaker Maserati sold 17% more cars with 1% more cars being sold in recession hit US in 2008.

The star and striped cash-strapped land remains the carmaker’s largest market. Last year was also the first year when Maserati participated in Detroit’s Motor Show presenting the Quattroporte which you can see here:

Unless you have between $115,000 to $120,000 to spend on a car, then you are part of those 83% who still opted not to buy a Maserti last year.

Giorgio Mondadori dies

Giorgio Mondadori, son of the founder of one of Italy’s largest publishers, Mondadori, died today aged 91.

Off to business blogging…

The pre-exam boredom has led me to decide to convert this blog into a business news blog. I intend to keep tabs on latest business news, marketing news and media news. 

I do not want to deliver complicated stuff. I understand that you might be wary of looking at facts and figures however I really do feel there’s a need for a proper news source for businessmen in Malta.

We are constantly hearing how Malta’s smart and on its way to becoming a centre of excellence. However, we cannot afford having a centre of excelence, or even attracting more foreign direct investment, without keeping ourselves abrest with what’s happening around us. I intend to use this space to deliver just that kind of information.

Let the experient begin…