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Java Products

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However, this leadership is very conditional and depends also on the political situation. Among all the channels RBS particularly promising for this region is mobile banking. Mobile communication has a very high penetration in all countries, here we add the benefits of SMS and USSD-channels and get a fairly cheap way of banking. Technically, a mobile bank is a collection of several products: from a very simple Java-client and SMS-channel applications to thin clients and smartphones. Depending on the preferences of the bank's supplier can offer one product, and their combination.

Unfortunately, the level of penetration and stability of the Internet remains quite weak, so – good old SMS and IVR channels are more effective than current solutions in Russia and Europe, designed for broadband Internet access. GEMINI line includes the full range of products for mobile banking – the significantly upgraded making the 90-ies, based on SMS and Contact-centers – to modern channels of DBS on smartphones and iPad. Taking into account the local conditions in each Central Asian region will certainly be changes in products and to meet the exigencies of the Bank – in the end implemented solutions. A powerful movement GEMINI line to the Central Asian region is already noticeable in Kazakhstan and Uzbekistan. Let us hope that in other countries in the region will eventually be found interested lenders, which is explicitly stated in the concept of product development in 2011 (this concept can soon be found on the resource).

In conclusion, the future development of banking services and products in Central Asia will inevitably lead to a clear orientation on DBS channels. This is not only an image or reduce queues in the offices, but also the obvious opportunity to automate a huge number of customer self-service functions (for both corporate and retail customers). And it means: Minimal own costs of banks to hold in the RBS of all payments and transfers, new channels to market, minimizing the costs of providing common services (receipt of loan applications, processing deposits). For Central Asia it is still possible relatively painless, making Internet bank first-generation systems such as Web 2.0 (More details on trends in Web 2.0 can be found in LiveJournal in the account Gemini_Banking). Therefore, despite the late start, here it is quite possible accelerated development. Let's hope that the products GEMINI (and other products RBS) will undoubtedly positive impact on the banking market in the region.

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Economic Cycles

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Properly assess the meaning of changes in the currency or stock market, as well as the overall economy, helping knowledge about economic cycles. Development of economic processes are cyclical in nature: growth necessarily accompanied by a decrease followed by recovery and new growth. Economic cycles – are periodic fluctuations in the levels of production and consumption (supply and demand). Usually, the dynamics of economic Development (cycle) varies according to the following phases: 1.Retsessiya (Recession) or decline. A reduction in business activity, falling production, reducing employment and income.

Depending on the degree of economic decline and time factor, the recession, distinguish the crisis and depression. Crisis – it is an imbalance in the economy, causing the reduction and suspension of production. Depression – a period during which gradually diverges excess goods, often at very low prices, and take a substantial period of time. 2.Vosstanovlenie (Recovery) or animation. Going rise in economic activity, the beginning of a significant increase in production. 3. Development (Expansion) or continued growth, typically include a cycle recovery and boom. The rise – the recovery period the pre-crisis level of industrial production, during which prices rise, profits, wages, resulting in levels of production and employment are gradually increasing up to full employment and full capacity utilization, usually comparable to the pre-crisis loading and employment.

Boom (peak) – is characterized by full load production capacity, high employment, a very high level of prices, wages. Typically, economic growth during the boom exceeds the level achieved in the previous cycle. The economic crisis that gripped the economy in 2008 virtually all countries in the world, as is known, began in the financial and construction industries the United States. In many media by different charges against management at the U.S. short-sightedness, greed, etc., but if you approach current crisis from the standpoint of the theory of economic cycles, the guilt at the beginning of the U.S. there is no crisis. Crisis – it is an objective reality in the economy, simply, it could happen a little earlier or later, but it would happen required. In the U.S. there is the National Bureau of Economic Research (NBER) (National Bureau of Economic Research – NBER), which is engaged in research and analysis of economic cycles and indicators. This question is very complicated, it all is that economic indicators characterizing the state of the economy, by its nature can be divided into three large groups – it is leading indicators, coincident indicators and lagging indicators. Almost any figure may be regarded as a one group or another, but the degree of accuracy of different indicators in relation to the stage of economic cycle (economic trends) can be different. To accurately evaluate the economics of one or a country, we must determine the phase of the cycle and compare the main economic indicators – GDP, inflation, the size of reserves, discount rate, public debt, the state balance of payments, the unemployment rate. Just at the time of writing (December 12 2008goda) NBER in its methods stated the official start of recession (recession) in the U.S. economy. The main factor in this definition was that that the fall in real GDP in the U.S. lasted for two consecutive quarters in a row. Hence, it remains to survive the depression (and possibly short-term type, the crisis will be without depression) and will welcome recovery.