The purpose of this study is to investigate the underlying sociocultural factors that drive the majority of microentrepreneurs to voluntarily exclude themselves from seeking external finance, despite complaints of severe financial constraints. Using structured questionnaire, data on some 176 microenterprises in Ashanti region of Ghana were collected. A simple conceptual framework was utilized to classify various forms of financially constrained and unconstrained microenterprises. A logistic regression technique was then applied to a utility function model of credit demand. The findings suggest that voluntary self-exclusion is not only driven by microenterprise or owner's socioeconomic status, but also most significantly by their perceived difficulties in accessing external finance and n...
WABTEC CORPORATION CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2010 AND 2009 (DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA) (UNAUDITED) Fourth Fourth For the For the Quarter Quarter Year Ended Year Ended 2010 2009 2010 2009 Net sales $ 393,241 $ 359,188 $ 1,507,012 $ 1,401,616 Cost of sales (275,253) (259,526) (1,057,934) (1,008,290) Gross profit 117,988 99,662 449,078 393,326 Gross profit as a % of Net Sales 30.0% 27.7% 29.8% 28.1% Selling, general and administrative expenses (53,414) (43,171) (195,892) (160,998) Engineering expenses (9,721) (10,966) (40,203) (42,447) Amortization expense (3,504) (3,727) (10,173) (9,849) Total operating expenses (66,639) (57,864) (246,268) (213,294) Operating expenses as a % of Net Sales -16.9% -16.1%...
[...] the largest gains were made by the ministry of small scale industry, where the allocations increased more than five-fold, followed by ministry of food processing, which also registered a similar increase.
Karachi-- Around 176 police stations and check posts have been established in buildings and premises which are not owned by the police department; 49 of these buildings are in Karachi, 54 in Hyderabad and 73 in Sukkur, Home Minister Dr Zulfiqar Mirza informed the Sindh Assembly on Tuesday.
During the 2008 audit of Satyam Computer Services, the company management provided PricewaterhouseCoopers, or PwC, with a response from the Mumbai branch of a bank saying that Satyam held $176 million in fixed deposits, or FDs. A response from the Hyderabad branch sought by the auditor said Satyam had no FDs with the bank. The conflicting reports were not investigated, says the US watchdog Public Companies Accounting Oversight Board, or PCAOB. Satyam's management often used a "super user" function in the company's billing software to create fake invoices, which amounted to $1 billion during the entire period of the fraud - an accounts receivable fraud that PwC as auditors could not detect, points out US markets regulator Securities and Exchange Commission, or SEC.
First Quarter Financial Highlights: * Record net revenue of $53.7 million, up 18% sequentially from $45.4 million in Q4 2010 * Record solar revenue of $45.9 million, up 19% sequentially from $38.6 million in Q4 2010 * Record quarterly bookings of $137 million ($127 million solar), up 176% sequentially from $50 million ($41 million solar) in Q4 2010 * Record quarter-end backlog of $173 million ($162 million solar), up 83% sequentially from $94 million ($85 million solar) at September 30, 2010 * Gross margin of 36%, compared to 39% sequentially * Operating income of $8.4 million, compared to operating income of $8.9 million sequentially * Net income of $5.0 million, or $0.52 per diluted share, compared to net income of $5.4 million, or $0.58 per diluted share, sequentially * First quarter...
He has recently been in the news for securing the release of Indians on death row in Sharjah. Three of them returned to Punjab last month. But that is not the only philanthropic work the founder of the Indian Punjabi Society in the UAE has embarked on. Three years ago, when S.P. Singh Oberoi, 55, wanted to admit his son Sunny to Patiala's Navjivni School of Special Education, he saw students being turned away because all the 176 seats had been filled up. Oberoi resolved to fix the demand-supply deficit. "I committed to the school that I'd fund an additional building to increase intake of students," he says. Oberoi more than kept his word. Today, Sunny 1 and Sunny 2, two six-storey towers, the second nearing completion, stand on either side of the school building. "I want two more buildi...
Bank of Russia has issued following External Trade in Services of the Russian Federation within the Extended Balance of Payments Services Classification(as per Balance of Payments Methodology): in 2010 (millions of US dollars) Q1 2010 Q2 2010 Q3 2010 Q4 2010 2010 Total with non-CIS countries with CIS countries Total with non-CIS countries with CIS countries Total with non-CIS countries with CIS countries Total with non-CIS countries with CIS countries Total with non-CIS countries with CIS countries Services -4,673 -4,959 286 -5,894 -6,265 371 -9,304 -9,286 -18 -7,923 -8,319 396 -27,794 -28,829 1,035 Exports of services 9,058 7,487 1,571 11,021 8,954 2,067 12,075 9,711 2,364 12,323 10,079 2,244 44,476 36,230 8,246 Imports of services -13,731 -12,446 -1,285 -16,914 -15,219 -1,695 -21,379 ...
...Exports 638 549 89 1,007 882 124 1,094 918 176 1,018 871 148 3,758 3,221 537. Imports -604 -483 -...
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