US and China Negotiations with Oil Producing Countries

US and China Negotiations with Oil Producing Countries Abstract The start of the twenty first century signaled a new beginning for the United States and China in their quest for oil diplomacy with African oil producing countries. One of the characteristics of this venture is the difference in approach both countries follow to attain this natural resource. This research work, therefore, examines the diplomatic measures of the US and China in their negotiations with oil producing countries in Sub-Saharan Africa, hereafter referred to as (SSA). In particular, the results they expect or the preferences over outcomes are analyzed. It is not the intention of the study to present a comparative analysis of US and Chinese import figures or to look at their reciprocal relationship. The question is what strategic choices do the US and China make in their interaction with oil producing countries and in what way does such interaction shape oil diplomacy? An important finding is that the US and China develop different strategic paths and policy frameworks whic h strengthen the assumption that the two countries compete for SSA oil. Along these lines, the study investigates the oil diplomacy of the US and China in SSA using the strategic-choice approach as an analytical framework. Introduction In the last decade, the US and China has moved their search for oil security to the African continent. The US and China arrive on the SSA oil scene with their own motives and interests. Their single most important interest is to engage in oil diplomacy with petroleum producing states and secure the safe import of oil from the region. African states traditionally were influenced by colonial powers. However, with the rise of China and its increasing involvement in Africa, the situation is changing. The US focuses on humanitarianism, good governance and democratization of petroleum producing states in their oil diplomacy approach. China, the worlds fastest growing economy, views SSA as a welcome offloading ground for its products in exchange for oil. An economic approach focusing on enlarging its commercial interests is the driving factor for Chinas engagement with petroleum producing states. China needs more raw materials to supply in its increasing domestic demand. Instability in the Middle East, oil dependency and securing its energy interests drives the US to SSA. Keeping a watchful eye on Chinas involvement and monitoring its influence with petroleum producing states is another reason the US is devoting much of its time to this part of Africa. The US interest in the region focuses on the procurement of oil and gas, but with the establishment of the US African Command (AFRICOM), US involvement in SSA shifted in a large degree to the fight against terrorism and safeguarding of American oil operations. Analytical Framework Lake Powell (1999) formulated an approach that makes it easier for students of international relations to explain the choices actors make, whether these actors are states, parties, ethnic groups, companies, leaders or individuals. This approach is used in the paper to explain the strategic interaction of the US and China with oil producing countries and not the strategic interaction between the US and China. The argument is that both countries have independent influencing power and exercise an asymmetric relationship with oil producing countries. In SSA the preferences and beliefs of the US and China in conjunction with the strategic environment are the core attributes on which the strategic-choice approach is based. In the SSA oil environment, there are many beliefs and preferences which have an effect on interaction and the formulation of policy frameworks. What are the oil security preferences of the US and China in SSA, and how is it influenced by the environment? Changes in the behavior of actors are often difficult to perceive in the strategic-choice approach (Lake Powell, 1999). Whenever changes in the behavior of actors do take place, it is primarily done through learning, through changes in the actors environment or by analyzing the actors as more basic actors Lake Powell, 1999). In this study, the methodological bet would disaggregate the actors into more basic actors, such as the individual beliefs of the energy departments, national leaders, multinational oil corporations, bureaucrats and individuals. Frieden (1999: 50) mentions the concept of actors preferences over choices, and how the outcomes affect strategic interaction between actors in the same setting. The preference in a particular setting leads the agent to devise a strategy. Analysts of international relations have long debated how preferences and the strategic environment affect outcomes, jointly and separately. Many debates in the field have to do with whether outcomes are primarily the result of the constraints of the international system or of differences among national preferences (Frieden, 1999:50). A strong variant of realism, for example, implies that state preferences are so overwhelmed by the pressures of interstate competition that all states must pursue essentially identical strategies. A strong domestic, dominance perspective might, on the other hand, argue that different state strategies flow primarily from different national characteristics and preferences. Due to the continuous rise of new issues in SSA oil politics, the argument is that preferences are shaped by environmental factors and thus not static. It will be difficult, therefore, to separate the preferences of the actors from the strategic environment. The assumption is that a cycle of interaction is proposed deriving from the interplay of preferences and strategies. In the SSA oil setting, the US and China in deciding what preferences over outcomes they desire, have to take political environmental constraints into consideration, because the oil-induced political environment is constantly changing. Instability of oil producing countries, corruption, the negative consequences of having oil reserves, bad governance and terrorism are contributing factors to this changing environment. In more stable, homogenous oil environments, the actors preferences are more constant. The environment in North Africa is a region with a more or less stable oil infrastructure, where actors formulate clear, definable goals, separate from such environmental influence. The North African oil producing states of Libya, Algeria, Morocco, Tunisia and Egypt have a strong unifying Muslim culture, and they can shape their preferences around a common goal. In SSA, the environment and the choices actors make are separated, because of ethnic division, religious differences, corruption, instability, bad governance and the gross mismanagement of oil revenues. These factors then make it difficult for leaders to shape preferences without interference of political constraints. In reality, leaders of oil states will base individual preferences on self-enrichment and state goals on the dynamics of interplay between actors in the strategic setting. The main energy security debate for the American and Chinese government in the twenty first century focuses on the concept of oil dependence. Diversification of import channels, safe delivery of imports and establishing reasonable prices are factors that influence the decision-making of policymakers. US-Sino oil diplomacy in SSA thus follows different paths. Because both countries arrived relatively late on the oil scene in this part of Africa, were not previous colonial masters, and had limited strategic ties with petroleum producing states, SSA now presents new challenges to the US and Chinese governments in their quest for oil. Engaging in diplomatic talks broaden oil horizons and establish measures along which oil security is negotiated. From the perspective of increasing oil imports and acquiring new exploration and drilling licenses, oil diplomacy is vital for sustaining negotiations on a continuous basis. However, for diplomacy to be an effective tool, the US and China need to formulate preferences or policy beliefs. The next section presents a brief overview of US and Chinese expansion into the SSA oil fields in the last couple of years. The aim is to identify the major oil producing countries with whom the US and China have signed deals and not to present import and expo rt figures. Looking at the allocation of exploration contracts to the US and China by SSA oil producers, it becomes clear that these countries are siding with either the US or China. The point is that diplomacy and strategic interaction are deciding factors influencing the relationship. For example, Nigeria and Angola as two of SSAs major oil producing countries have strong relationships with both powers, but their interaction differ. US and Chinese Expansion into Sub-Saharan Africa Oil Fields The growing expansion of Chinese national oil companies into Africas oil markets is perhaps the aspect of Sino-African relations that most concerns the international community (Taylor, 2009: 37). Chinese firms are actively seeking resources of every kind: copper, bauxite, uranium, aluminum, manganese, iron ore, and more. However, the issues surrounding oil are of particular interest to Western policymakers studying Chinas rise (Lyman, 2006). Indeed, although China and the US do not rely on one another for energy supplies, the possibility that oil will be the subject of future disagreements between them is arguably high and thus has a bearing on much of the commentary on Sino-African energy policies (Zha, 1999: 69). Certainly, there is concern that Beijings procurement of energy supplies will pose a challenge to the global dominance of Washington at a time when levels of cooperation between the two governments on matters of energy are at best weak (Dreyer, 2007: 461). In contrast to t he days of Maoist solidarity, contemporary Chinas economic dealings with Africa are, in the main, based on an unfriendly evaluation of commercial potential. Indeed, to reiterate, Chinas rapidly developing oil requirements have helped propel Sin-African trade at the turn of the millennium (Taylor, 2009: 44). A select listing of recent contracts signed by Chinas national oil companies gives a flavor of the geographical extent of Chinese interest in SSA oil. In 2004, Total Gabon signed a contract with Sinopec for exporting Gabonese crude oil into China. Angola received a US$ billion loan in 2005 in exchange for oil deals with China, which added another US$1 billion to the loan in March 2006. Also in 2005, the Nigerian National Petroleum Corporation signed a US$800 million deal with PetroChina to supply 30,000 barrels of crude per day to China. In 2006, CNOOC agreed to pay US$2.3 billion for a stake in a Nigerian oil and gas field (Taylor, 2009: 45). Chinese oil companies also reportedl y signed contracts to begin offshore oil exploration and production in Congo-Brazzaville and began oil exploration in northern Namibia with the intent to establish an oil refinery. In addition, Nigeria announced that that it would give the first right of refusal on four oil exploration blocks to CNPC in exchange for a commitment to invest US$4 billion in infrastructure (Taylor, 2009: 46). Clearly, Chinas energy interests in Africa are growing exponentially. Indeed, in 2006, China imported 920,000 barrels a day of crude oil, or 31 percent of its total crude imports, from Africa. Moreover, Chinese national oil companies are still relatively small players on the continent. â€Å"The commercial value of the oil investments in Africa of Chinas NOCs is just 8 percent of the combined commercial value of the (international oil companies) investments in African oil and 3 percent of all companies invested in African oil† (Downs, 2007: 42). A central criticism of these contracts revolve s around the tactics and strategies by which Chinese corporations enter into them. For instance, on February 16, 2006, Chinaafrica, an official Chinese publication, quoted Wang Yingping of the China Institute of International Studies (CIIS), as asserting that â€Å"Chinese businesses pay greater attention to protecting the environment when building factories and exploring for Africas rich reserves in oil†; two months later, it cited, without comment, the assertion by Sierra Leones ambassador to China that â€Å"the Chinese just come and do it. They dont hold meetings about environmental impact assessments, human rights, bad governance and good governance. Im not saying its right, just that Chinese investment is succeeding because they dont set high benchmarks† (Taylor, 2009: 47).  Ã‚  Ã‚   The US is obsessed with oil imports from the Middle East and pays little or no attention to SSA. This region supplies as much black gold to the US as the Persian Gulf States. According to (Donelson, 2008) the region also lend itself to just as much (if not more) danger of unexpected supply disruption. For this reason AFRICOM, the new US military administrative headquarters [one of six regional headquarters (HQs) worldwide] was established. The military demand center is devoted to relations with 53 countries (Donelson, 2008). At the end of 2007, SSA accounted for nearly 16% of US daily imports, versus just over 18% for the Persian Gulf States and just over 18% for Canada. The country in seventh place is Angola with 507,000 barrels a day, just behind Algeria. Chad, Gabon, Congo (Brazzaville), and Equatorial Guinea are petroleum suppliers to the US as well, along with minor players including South Africa, Mauritania, Ivory Coast, Ghana, and the Democratic Republic of the Congo (Kinshasa . One country with strong oil reserves is Nigeria, but unfortunately the region is vulnerable to disruption. The destroying of oil pumping stations, pipelines, and other distribution facilities are at the order of the day by rebel groups, opposing the rule of President Umaru YarAdua. According to Donelson (2008), The Bold Movement for the Emancipation of the Niger Delta has sent militants in boats through heavy seas to attack the Bonga oil fields more than 65 miles from land, temporarily shutting down production of more than 200,000 barrels a day. But there are also other groups, such as white-collar oil workers threatening the supply of oil if their negotiation demands are not met. But the main issue the US faces is competition from other countries, especially from China. Donelson (2008) points out that the Angola supplied almost as much oil (465,000 barrels daily) to China as they did to the US in 2007 and that number will almost certainly go up as a report by the Council of Forei gn Relations states: â€Å"Beijing secured a major stake in future oil production in 2004 with a $2 billion package of loans and aid that includes funds for Chinese companies to build railroads, schools, roads, hospitals, bridges, and offices; lay a fiber-optic network; and train Angolan telecommunications workers† (Donelson, 2008: 2). The President of Angola, Jose Eduardo dos Santos served as his partys, (MPLA) representative to China, after receiving his degree from the Azerbaijan Oil and Chemistry Institute in the old USSR. This was shortly before he became president. The relationship between dos Santos and the US is not build on a solid foundation and is to say the least very unreliable. There is no guarantee that the country will live up to its promise of providing the US with a continuous supply of oil, after such a long time of instability and civil war. With two of the top seven U.S. oil suppliers vulnerable to supply disruptions at any moment; is it any wonder that the American military presence in Africa is slated for the major expansion (Donelson, 2008). In a nutshell, before moving on to the strategic-choice analysis, what are the motivations for the US and China to enter the SSA oil market? Trade and economical intentions are high on Chinas African business agenda, offloading Chinese products in the host countries in exchange for oil and other resources. Traditionally, African states relied on western colonial powers for economic aid and influence. However, the situation is slowly changing with the rise of China and its increasing involvement in Africa. The supply of oil in return for investments and other economical incentives are the driving force for petroleum producing states to establish relations with China. SSA is a source of growing importance in the supply of oil. The region is likely to become as important a source of US energy imports as the Middle East. The US is in competition for access to oil, not only to China but also with India and Europe. Therefore, the US interest in SSA includes promoting democracy, good govern ance and transparency in economies of petroleum producing states, along with establishing a strong military command to protect its oil interests and monitor the actions of militant groups.  Ã‚   However, diplomacy is an effective tool if preferences and policy beliefs are formulated around certain goals. This is what the next chapter is going to achieve, investigating the policy beliefs of the US and China and the way it contributes to effective oil diplomatic measures.   US-Sino Oil Diplomacy in Sub-Saharan Africa: A Strategic-Choice Analysis During the twentieth century, US and Chinas preference thinking regarding Africa was greatly influenced by ideological thinking. The contest between establishing democracy or communism in Africa was evident of US-Chinese intervention on the African continent. The US followed liberalization policies to free oppressing regimes from authoritarian, communist rule, while China viewed Africa as an open domain to introduce communism. A result of these opposing preferences by the US and China was that African countries were introduced to different ideological doctrines, which laid the foundation for African countries to establish their own state goals. Hostility of certain petroleum producing states toward cooperation with either the US or China, favoring one state over the other because of ideological and economical preferences, domestic conflict in Nigeria, violations of human rights in Sudan, the war on terror in conjunction with Muslim extremism and the general poor living and health con ditions in SSA, are factors that limit the American and Chinese governments to implement successful strategies. On the other hand, the US and China can certainly benefit from the individual preferences of state leaders and actors in the oil industry. For example, the goals of multinational oil corporations and the individual beliefs of business leaders contribute to the formulation of a national grand strategy for SSA.   In analyzing the strategic interest of the US in the SSA oil setting, the ideological preference of the US to promote democracy and good governance in African countries is a condition when strategies based on democratic principles are to be devised. â€Å"Oil is where you find it. Oil companies cannot always invest in democratically governed countries. It would be ideal if it could be guaranteed that the head of an African country where a US oil company invested was, in fact, an advocate of democracy and always respected human rights. Unfortunately, that is not a realistic expectation in todays Africa or in most other oil producing regions of the world. It is important to urge and cajole and to nudge the leaders of the oil producing countries towards establishing inclusive democracies and good governance† (Wihbey, Schutz, 2002: 4). This is the task of US diplomacy. In Sudan, the US government is supporting the initiatives of the Extractive Industries Transparency Initiative ( EITI) (The Extractive Industries Transparency Initiative, 2007). Countries that underwrite the initiatives and programs of the EITI have preferences toward establishing good governance principles in countries that depend on the extraction of natural resources, and to eradicate the exploitation of these resources. Initiatives that seek to promote good governance principles can only be successful if the supporting countries maintain these same good government principles at home. The SSA oil strategic setting allows for many actors, whether they are governmental institutions, non-governmental institutions, non-state actors or individuals, such as the residents of the Niger delta and Southern Sudan and the multitude of multinational oil corporations (MNCs), to formulate their own goals and pursue unique strategies. However, environmental constrains, such as transportation difficulties and inaccessibility of areas in the Niger Delta, further accentuates the problem actors experience to reach solutions on common grounds. Then there are also religious divisions between Muslims and Christians, ethnic conflicts between the different tribes living in the Niger Delta, the self-interested or ambitious goals of MNCs in the central government. These factors are all having an immoralizing effect on the negotiation process. Rebel groups operating from the Niger Delta, some of which pursue their own agendas and others, which are in unison with the goals of religious and ethnic groups, are at the moment taking the main stage in setting preferences for Niger Delta peace talks. The movement for the emancipation of the Niger Delta (MEND)can be cited as a group that has extremely hostile feelings toward the presence of foreign and in particular western oil companies (The movement for the emancipation of the Nige r Delta, 2011). In a January 2006, MEND warned the oil industry: It must be clear that the Nigerian government cannot protect your workers or assets. Leave our land while you can or die in it. Our aim is to totally destroy the capacity of the Nigerian government to export oil† (Hanson, 2007: 2). One can assume from this statement, that MEND has a preference for the protection of their land from foreign invasion. They voice strong, emotional concern over foreign oil workers occupying their land and will take extreme measures expelling these oil workers from their land. Whether, they really are interested in finding solutions to the ongoing delta conflict is an open question. Their findings are that anti-government groups, supporting the goals of Muslim extremists and anti-western lobbyists are greatly responsible for the chaos and anarchy characterizing the situation in the delta. Accusations that western oil companies are destroying the natural habitat of certain fish populations and are responsible for the ethnic conflict are treated with contempt by oil companies, such as Shell and ExconMobil, (Howden, 2006) both which invested heavily in the Nigerian oil industry. Oil operations of these companies are conducted in harmony with the natural environment, and that one of their missions is to protect the Niger Delta from over-exploitation and unnecessary pollution. It is all a question of respecting the rights of citizens living in the area and caring about the natural environment, which is an aspect that is neglected by foreign oil companies operating in the Delta. In making a final analysis regarding the preferences of the actors in the Nigerian conflic t, it is necessary that common ground has to be found between the actors. An environment where actors pursue harmonious interests will be beneficial to all. As long as the local residents view foreign oil workers as intruders on their land, pursuing ambitious, and self-interested goals and not returning revenue into local community development programs, the chances that a final solution to the conflict be reached, are small. If one or both of these powers can accept the role of mediator, laying down guidelines for further negotiations, the negotiation process will enjoy a substantial boost. This mediating role will not only help the conflicting parties, but will in effect put the concept of energy security on the negotiating table. On the other hand, for parties to commence a mediating role, they should have an unbiased attitude toward the conflicting parties. Both these countries have strong and clear intentions to use oil diplomacy to their own benefit and manipulate the results in the SSA oil strategic setting. In SSA, AFRICOM is set out to achieve military dominance on the African continent and establish military strategic partnerships with petroleum producing countries. Nigeria, Sao Tome and Principe and Angola along the west coast of Africa are the main hotspots for US and Chinese oil interests. Nigeria is the biggest exporter of oil in the region, and in the last five years had allocated valuable oil drilling licenses to US and Chinese oil companies. Nigeria already supplies the oil needs of these two giants, especially to the US. Sao Tome and Principe and Nigeria (Sao Tome, Nigeria sign oil deal with US-led consortium, 2005) signed a milestone contract to give a consortium led by the US based oil company, ChevronTexaco, rights to drill in the two countries shared Gulf of Guinea oil exploration zone. China has secured four oil-drilling licenses from Nigeria in the last three years. In exchange, China will invest US$4bn in oil and infrastructure projects in Nigeria (BBC News, 2006). Nigeria, Africas top oil exporter, has long been viewed by China as a partner. From the recent contracts allocated by the governments of Nigeria and Sao Tome and Principe to US and Chinese based oil companies, it becomes clear that US-Sino oil diplomacy in SSA focus on establishing long-lasting relationships (BBC News, 2006). The giant Chinese state-owned China National Offshore Oil Corporation, CNOOC, has reached a deal to buy a 45 percent stake in a Nigerian oil field for more than US$2 billion. The purchase, if approved by both governments, would be Chinas first major venture into oil-rich Nigeria. Analysts say the Nigerian bid will not be easy for CNOOC, which has no experience in dealing with Nigeria, a country rated as a difficult place to do business. The international anti-corruption group Transparency International ranks the country as the sixth most corrupt nation in the world. The American oil company Chevron did not bid on this block, and that would imply they did not believe the values were there. So this is certainly a hurdle which CNOOC will have to overcome. Chinese and Nigerian governments will sign two important agreements: one on economic and technology cooperation and a memorandum of understanding on developing a strategic partnership. China is offering assistance in the form of building new tanker terminals, refineries and possible pipelines to export the oil from remote regions to the coast for easy loading (Ramirez, 2006). China is streamlining the oil infrastructure in SSA, according to their specific needs. This is an infrastructure that on the one hand satisfies their oil demands, but on the other hand leaves the host country no choice but to become dependent on the Chinese oil expertise.The result is that petroleum producing countries in the long run will be more dependent on Chinese investments to sustain their economies, rather than China being dependent on their oil imports. This interaction clearly indicates that Chinas preferences are shaped on establishing some sort of economic superiority over their oil strategic partners and forcing petroleum producing states to be dependent on Chinese intervention. If China has more control over the oil affairs of host countries, it will give them a stronger bargaining base and increase their strategic advantage. The longterm goal of countries that seek to control the economies of its trading partners is to transform economic gains into security gains, so that in the long run, economics and security are inseparable (Snidal, 1993: 73). When China can control the economies of petroleum producing states, it will have strong incentives to move one step further and create military strategic partnerships. The supply of military equipment, providing of nuclear technology, and perhaps positioning of Chinese troops in petroleum producing states, as overseers of its oil operations, cannot be excluded from its African engagement strategy. By successfully negotiating with petroleum producing states and gaining diplomatic prestige, the other state will immediately be in a less favorable situation. In doing so, the preferences will have a stronger strategic value and gives stronger bargaining power. Strategic values or interests are valued not for themselves, but for their contribution to the protection or promotion of other interests in the future. They are â€Å"interests defined in terms of power†, to recall Morgenthaus memorable phrase (Snyder, 1997: 23). The motivation for the US and China is to try and establish alignments with petroleum producing states. In this way, they their strategic values will be more clearly defined and they can implement strategies to control certain oil fields, offshore oil rigs, pipelines and sea passages. The indication is that the sea around the west coast of Africa, stretching from Nigeria in the north to Angola in the south, is expected to raise problems concerning the transpo rtation of future oil supplies. Because the US and China both have to use these sealanes to transport crude oil and gas, it might become a point of conflict. Determining Preferences Preference determination is typically specified in one of three ways: by assumption, by observation and by deduction (Frieden, 1999, p. 53). The objective with this section is to explore these ways and determine their analytical value in the context of the actors preferences in the SSA oil strategic setting, with the main emphasis being on the US and China. Because the US and China both have energy security interests, they have formulated energy security policies at the national level, and these policies are based on assumptions of realism or liberalism. Determining the preferences of the US and China by deducing preferences from these assumptions will offer one of the most analytically satisfying routes to see what specific preferences they hold in the SSA oil strategic setting. It is easiest to assume preferences. In the principal application in international relations to the preferences of nation-states, the simplest assumption might be that states attempt to maximize national wel fare, or assume that states maximize national resources (Frieden, 1999: 53). A comparison between the preferences of economics and the preferences of international politics shows that there are distinctions with regards to the actors involved and the goals they pursue. In economics, there is limited variation in the cast of characters, particularly firms and individuals. Firms prefer profit maximization and individuals prefer wealth maximization (Niou, Ordeshook. Rose, 1999: 54). However, international politics involves individuals, firms, groups, nation-states, international organizations and transnational actors. The preferences of ChevronTexaco and Chinas Petroleum and Chemical Corporation (Sinopec), may in general terms be homogenous, they are engaged in every aspect of the oil and natural gas industry in the SSA oil industry, including exploration and production, refining, marketing and transportation, chemicals, manufacturing and sales (The leadership functions of Chevron Texaco , 2007). However, the reality is that American and Chinese oil companies operating in SSA are in effect not only serving the interests of the oil industry and acting as channels for the procurement of oil imports for their local economies, but they also serve as useful instruments in the hands of politicians to control and manipulate the oil industries of the agent states. Expansion of US and Chinese oil operations in SSA since the start of the twenty first century are providing them with more power on the continent. The direct result of gaining more power in the oil industry is that the petroleum producing states are getting entangled in a web of either American or Chinese influence. This influence is leading to a state of dependency of petroleum producing states on US and Chinese involvement in their oil industries. In terms of economic considerations, the US and China prefer different outcomes in their oil diplomacy with petroleum producing states. The US regards the pursuing of economical interests a US and China Negotiations with Oil Producing Countries US and China Negotiations with Oil Producing Countries Abstract The start of the twenty first century signaled a new beginning for the United States and China in their quest for oil diplomacy with African oil producing countries. One of the characteristics of this venture is the difference in approach both countries follow to attain this natural resource. This research work, therefore, examines the diplomatic measures of the US and China in their negotiations with oil producing countries in Sub-Saharan Africa, hereafter referred to as (SSA). In particular, the results they expect or the preferences over outcomes are analyzed. It is not the intention of the study to present a comparative analysis of US and Chinese import figures or to look at their reciprocal relationship. The question is what strategic choices do the US and China make in their interaction with oil producing countries and in what way does such interaction shape oil diplomacy? An important finding is that the US and China develop different strategic paths and policy frameworks whic h strengthen the assumption that the two countries compete for SSA oil. Along these lines, the study investigates the oil diplomacy of the US and China in SSA using the strategic-choice approach as an analytical framework. Introduction In the last decade, the US and China has moved their search for oil security to the African continent. The US and China arrive on the SSA oil scene with their own motives and interests. Their single most important interest is to engage in oil diplomacy with petroleum producing states and secure the safe import of oil from the region. African states traditionally were influenced by colonial powers. However, with the rise of China and its increasing involvement in Africa, the situation is changing. The US focuses on humanitarianism, good governance and democratization of petroleum producing states in their oil diplomacy approach. China, the worlds fastest growing economy, views SSA as a welcome offloading ground for its products in exchange for oil. An economic approach focusing on enlarging its commercial interests is the driving factor for Chinas engagement with petroleum producing states. China needs more raw materials to supply in its increasing domestic demand. Instability in the Middle East, oil dependency and securing its energy interests drives the US to SSA. Keeping a watchful eye on Chinas involvement and monitoring its influence with petroleum producing states is another reason the US is devoting much of its time to this part of Africa. The US interest in the region focuses on the procurement of oil and gas, but with the establishment of the US African Command (AFRICOM), US involvement in SSA shifted in a large degree to the fight against terrorism and safeguarding of American oil operations. Analytical Framework Lake Powell (1999) formulated an approach that makes it easier for students of international relations to explain the choices actors make, whether these actors are states, parties, ethnic groups, companies, leaders or individuals. This approach is used in the paper to explain the strategic interaction of the US and China with oil producing countries and not the strategic interaction between the US and China. The argument is that both countries have independent influencing power and exercise an asymmetric relationship with oil producing countries. In SSA the preferences and beliefs of the US and China in conjunction with the strategic environment are the core attributes on which the strategic-choice approach is based. In the SSA oil environment, there are many beliefs and preferences which have an effect on interaction and the formulation of policy frameworks. What are the oil security preferences of the US and China in SSA, and how is it influenced by the environment? Changes in the behavior of actors are often difficult to perceive in the strategic-choice approach (Lake Powell, 1999). Whenever changes in the behavior of actors do take place, it is primarily done through learning, through changes in the actors environment or by analyzing the actors as more basic actors Lake Powell, 1999). In this study, the methodological bet would disaggregate the actors into more basic actors, such as the individual beliefs of the energy departments, national leaders, multinational oil corporations, bureaucrats and individuals. Frieden (1999: 50) mentions the concept of actors preferences over choices, and how the outcomes affect strategic interaction between actors in the same setting. The preference in a particular setting leads the agent to devise a strategy. Analysts of international relations have long debated how preferences and the strategic environment affect outcomes, jointly and separately. Many debates in the field have to do with whether outcomes are primarily the result of the constraints of the international system or of differences among national preferences (Frieden, 1999:50). A strong variant of realism, for example, implies that state preferences are so overwhelmed by the pressures of interstate competition that all states must pursue essentially identical strategies. A strong domestic, dominance perspective might, on the other hand, argue that different state strategies flow primarily from different national characteristics and preferences. Due to the continuous rise of new issues in SSA oil politics, the argument is that preferences are shaped by environmental factors and thus not static. It will be difficult, therefore, to separate the preferences of the actors from the strategic environment. The assumption is that a cycle of interaction is proposed deriving from the interplay of preferences and strategies. In the SSA oil setting, the US and China in deciding what preferences over outcomes they desire, have to take political environmental constraints into consideration, because the oil-induced political environment is constantly changing. Instability of oil producing countries, corruption, the negative consequences of having oil reserves, bad governance and terrorism are contributing factors to this changing environment. In more stable, homogenous oil environments, the actors preferences are more constant. The environment in North Africa is a region with a more or less stable oil infrastructure, where actors formulate clear, definable goals, separate from such environmental influence. The North African oil producing states of Libya, Algeria, Morocco, Tunisia and Egypt have a strong unifying Muslim culture, and they can shape their preferences around a common goal. In SSA, the environment and the choices actors make are separated, because of ethnic division, religious differences, corruption, instability, bad governance and the gross mismanagement of oil revenues. These factors then make it difficult for leaders to shape preferences without interference of political constraints. In reality, leaders of oil states will base individual preferences on self-enrichment and state goals on the dynamics of interplay between actors in the strategic setting. The main energy security debate for the American and Chinese government in the twenty first century focuses on the concept of oil dependence. Diversification of import channels, safe delivery of imports and establishing reasonable prices are factors that influence the decision-making of policymakers. US-Sino oil diplomacy in SSA thus follows different paths. Because both countries arrived relatively late on the oil scene in this part of Africa, were not previous colonial masters, and had limited strategic ties with petroleum producing states, SSA now presents new challenges to the US and Chinese governments in their quest for oil. Engaging in diplomatic talks broaden oil horizons and establish measures along which oil security is negotiated. From the perspective of increasing oil imports and acquiring new exploration and drilling licenses, oil diplomacy is vital for sustaining negotiations on a continuous basis. However, for diplomacy to be an effective tool, the US and China need to formulate preferences or policy beliefs. The next section presents a brief overview of US and Chinese expansion into the SSA oil fields in the last couple of years. The aim is to identify the major oil producing countries with whom the US and China have signed deals and not to present import and expo rt figures. Looking at the allocation of exploration contracts to the US and China by SSA oil producers, it becomes clear that these countries are siding with either the US or China. The point is that diplomacy and strategic interaction are deciding factors influencing the relationship. For example, Nigeria and Angola as two of SSAs major oil producing countries have strong relationships with both powers, but their interaction differ. US and Chinese Expansion into Sub-Saharan Africa Oil Fields The growing expansion of Chinese national oil companies into Africas oil markets is perhaps the aspect of Sino-African relations that most concerns the international community (Taylor, 2009: 37). Chinese firms are actively seeking resources of every kind: copper, bauxite, uranium, aluminum, manganese, iron ore, and more. However, the issues surrounding oil are of particular interest to Western policymakers studying Chinas rise (Lyman, 2006). Indeed, although China and the US do not rely on one another for energy supplies, the possibility that oil will be the subject of future disagreements between them is arguably high and thus has a bearing on much of the commentary on Sino-African energy policies (Zha, 1999: 69). Certainly, there is concern that Beijings procurement of energy supplies will pose a challenge to the global dominance of Washington at a time when levels of cooperation between the two governments on matters of energy are at best weak (Dreyer, 2007: 461). In contrast to t he days of Maoist solidarity, contemporary Chinas economic dealings with Africa are, in the main, based on an unfriendly evaluation of commercial potential. Indeed, to reiterate, Chinas rapidly developing oil requirements have helped propel Sin-African trade at the turn of the millennium (Taylor, 2009: 44). A select listing of recent contracts signed by Chinas national oil companies gives a flavor of the geographical extent of Chinese interest in SSA oil. In 2004, Total Gabon signed a contract with Sinopec for exporting Gabonese crude oil into China. Angola received a US$ billion loan in 2005 in exchange for oil deals with China, which added another US$1 billion to the loan in March 2006. Also in 2005, the Nigerian National Petroleum Corporation signed a US$800 million deal with PetroChina to supply 30,000 barrels of crude per day to China. In 2006, CNOOC agreed to pay US$2.3 billion for a stake in a Nigerian oil and gas field (Taylor, 2009: 45). Chinese oil companies also reportedl y signed contracts to begin offshore oil exploration and production in Congo-Brazzaville and began oil exploration in northern Namibia with the intent to establish an oil refinery. In addition, Nigeria announced that that it would give the first right of refusal on four oil exploration blocks to CNPC in exchange for a commitment to invest US$4 billion in infrastructure (Taylor, 2009: 46). Clearly, Chinas energy interests in Africa are growing exponentially. Indeed, in 2006, China imported 920,000 barrels a day of crude oil, or 31 percent of its total crude imports, from Africa. Moreover, Chinese national oil companies are still relatively small players on the continent. â€Å"The commercial value of the oil investments in Africa of Chinas NOCs is just 8 percent of the combined commercial value of the (international oil companies) investments in African oil and 3 percent of all companies invested in African oil† (Downs, 2007: 42). A central criticism of these contracts revolve s around the tactics and strategies by which Chinese corporations enter into them. For instance, on February 16, 2006, Chinaafrica, an official Chinese publication, quoted Wang Yingping of the China Institute of International Studies (CIIS), as asserting that â€Å"Chinese businesses pay greater attention to protecting the environment when building factories and exploring for Africas rich reserves in oil†; two months later, it cited, without comment, the assertion by Sierra Leones ambassador to China that â€Å"the Chinese just come and do it. They dont hold meetings about environmental impact assessments, human rights, bad governance and good governance. Im not saying its right, just that Chinese investment is succeeding because they dont set high benchmarks† (Taylor, 2009: 47).  Ã‚  Ã‚   The US is obsessed with oil imports from the Middle East and pays little or no attention to SSA. This region supplies as much black gold to the US as the Persian Gulf States. According to (Donelson, 2008) the region also lend itself to just as much (if not more) danger of unexpected supply disruption. For this reason AFRICOM, the new US military administrative headquarters [one of six regional headquarters (HQs) worldwide] was established. The military demand center is devoted to relations with 53 countries (Donelson, 2008). At the end of 2007, SSA accounted for nearly 16% of US daily imports, versus just over 18% for the Persian Gulf States and just over 18% for Canada. The country in seventh place is Angola with 507,000 barrels a day, just behind Algeria. Chad, Gabon, Congo (Brazzaville), and Equatorial Guinea are petroleum suppliers to the US as well, along with minor players including South Africa, Mauritania, Ivory Coast, Ghana, and the Democratic Republic of the Congo (Kinshasa . One country with strong oil reserves is Nigeria, but unfortunately the region is vulnerable to disruption. The destroying of oil pumping stations, pipelines, and other distribution facilities are at the order of the day by rebel groups, opposing the rule of President Umaru YarAdua. According to Donelson (2008), The Bold Movement for the Emancipation of the Niger Delta has sent militants in boats through heavy seas to attack the Bonga oil fields more than 65 miles from land, temporarily shutting down production of more than 200,000 barrels a day. But there are also other groups, such as white-collar oil workers threatening the supply of oil if their negotiation demands are not met. But the main issue the US faces is competition from other countries, especially from China. Donelson (2008) points out that the Angola supplied almost as much oil (465,000 barrels daily) to China as they did to the US in 2007 and that number will almost certainly go up as a report by the Council of Forei gn Relations states: â€Å"Beijing secured a major stake in future oil production in 2004 with a $2 billion package of loans and aid that includes funds for Chinese companies to build railroads, schools, roads, hospitals, bridges, and offices; lay a fiber-optic network; and train Angolan telecommunications workers† (Donelson, 2008: 2). The President of Angola, Jose Eduardo dos Santos served as his partys, (MPLA) representative to China, after receiving his degree from the Azerbaijan Oil and Chemistry Institute in the old USSR. This was shortly before he became president. The relationship between dos Santos and the US is not build on a solid foundation and is to say the least very unreliable. There is no guarantee that the country will live up to its promise of providing the US with a continuous supply of oil, after such a long time of instability and civil war. With two of the top seven U.S. oil suppliers vulnerable to supply disruptions at any moment; is it any wonder that the American military presence in Africa is slated for the major expansion (Donelson, 2008). In a nutshell, before moving on to the strategic-choice analysis, what are the motivations for the US and China to enter the SSA oil market? Trade and economical intentions are high on Chinas African business agenda, offloading Chinese products in the host countries in exchange for oil and other resources. Traditionally, African states relied on western colonial powers for economic aid and influence. However, the situation is slowly changing with the rise of China and its increasing involvement in Africa. The supply of oil in return for investments and other economical incentives are the driving force for petroleum producing states to establish relations with China. SSA is a source of growing importance in the supply of oil. The region is likely to become as important a source of US energy imports as the Middle East. The US is in competition for access to oil, not only to China but also with India and Europe. Therefore, the US interest in SSA includes promoting democracy, good govern ance and transparency in economies of petroleum producing states, along with establishing a strong military command to protect its oil interests and monitor the actions of militant groups.  Ã‚   However, diplomacy is an effective tool if preferences and policy beliefs are formulated around certain goals. This is what the next chapter is going to achieve, investigating the policy beliefs of the US and China and the way it contributes to effective oil diplomatic measures.   US-Sino Oil Diplomacy in Sub-Saharan Africa: A Strategic-Choice Analysis During the twentieth century, US and Chinas preference thinking regarding Africa was greatly influenced by ideological thinking. The contest between establishing democracy or communism in Africa was evident of US-Chinese intervention on the African continent. The US followed liberalization policies to free oppressing regimes from authoritarian, communist rule, while China viewed Africa as an open domain to introduce communism. A result of these opposing preferences by the US and China was that African countries were introduced to different ideological doctrines, which laid the foundation for African countries to establish their own state goals. Hostility of certain petroleum producing states toward cooperation with either the US or China, favoring one state over the other because of ideological and economical preferences, domestic conflict in Nigeria, violations of human rights in Sudan, the war on terror in conjunction with Muslim extremism and the general poor living and health con ditions in SSA, are factors that limit the American and Chinese governments to implement successful strategies. On the other hand, the US and China can certainly benefit from the individual preferences of state leaders and actors in the oil industry. For example, the goals of multinational oil corporations and the individual beliefs of business leaders contribute to the formulation of a national grand strategy for SSA.   In analyzing the strategic interest of the US in the SSA oil setting, the ideological preference of the US to promote democracy and good governance in African countries is a condition when strategies based on democratic principles are to be devised. â€Å"Oil is where you find it. Oil companies cannot always invest in democratically governed countries. It would be ideal if it could be guaranteed that the head of an African country where a US oil company invested was, in fact, an advocate of democracy and always respected human rights. Unfortunately, that is not a realistic expectation in todays Africa or in most other oil producing regions of the world. It is important to urge and cajole and to nudge the leaders of the oil producing countries towards establishing inclusive democracies and good governance† (Wihbey, Schutz, 2002: 4). This is the task of US diplomacy. In Sudan, the US government is supporting the initiatives of the Extractive Industries Transparency Initiative ( EITI) (The Extractive Industries Transparency Initiative, 2007). Countries that underwrite the initiatives and programs of the EITI have preferences toward establishing good governance principles in countries that depend on the extraction of natural resources, and to eradicate the exploitation of these resources. Initiatives that seek to promote good governance principles can only be successful if the supporting countries maintain these same good government principles at home. The SSA oil strategic setting allows for many actors, whether they are governmental institutions, non-governmental institutions, non-state actors or individuals, such as the residents of the Niger delta and Southern Sudan and the multitude of multinational oil corporations (MNCs), to formulate their own goals and pursue unique strategies. However, environmental constrains, such as transportation difficulties and inaccessibility of areas in the Niger Delta, further accentuates the problem actors experience to reach solutions on common grounds. Then there are also religious divisions between Muslims and Christians, ethnic conflicts between the different tribes living in the Niger Delta, the self-interested or ambitious goals of MNCs in the central government. These factors are all having an immoralizing effect on the negotiation process. Rebel groups operating from the Niger Delta, some of which pursue their own agendas and others, which are in unison with the goals of religious and ethnic groups, are at the moment taking the main stage in setting preferences for Niger Delta peace talks. The movement for the emancipation of the Niger Delta (MEND)can be cited as a group that has extremely hostile feelings toward the presence of foreign and in particular western oil companies (The movement for the emancipation of the Nige r Delta, 2011). In a January 2006, MEND warned the oil industry: It must be clear that the Nigerian government cannot protect your workers or assets. Leave our land while you can or die in it. Our aim is to totally destroy the capacity of the Nigerian government to export oil† (Hanson, 2007: 2). One can assume from this statement, that MEND has a preference for the protection of their land from foreign invasion. They voice strong, emotional concern over foreign oil workers occupying their land and will take extreme measures expelling these oil workers from their land. Whether, they really are interested in finding solutions to the ongoing delta conflict is an open question. Their findings are that anti-government groups, supporting the goals of Muslim extremists and anti-western lobbyists are greatly responsible for the chaos and anarchy characterizing the situation in the delta. Accusations that western oil companies are destroying the natural habitat of certain fish populations and are responsible for the ethnic conflict are treated with contempt by oil companies, such as Shell and ExconMobil, (Howden, 2006) both which invested heavily in the Nigerian oil industry. Oil operations of these companies are conducted in harmony with the natural environment, and that one of their missions is to protect the Niger Delta from over-exploitation and unnecessary pollution. It is all a question of respecting the rights of citizens living in the area and caring about the natural environment, which is an aspect that is neglected by foreign oil companies operating in the Delta. In making a final analysis regarding the preferences of the actors in the Nigerian conflic t, it is necessary that common ground has to be found between the actors. An environment where actors pursue harmonious interests will be beneficial to all. As long as the local residents view foreign oil workers as intruders on their land, pursuing ambitious, and self-interested goals and not returning revenue into local community development programs, the chances that a final solution to the conflict be reached, are small. If one or both of these powers can accept the role of mediator, laying down guidelines for further negotiations, the negotiation process will enjoy a substantial boost. This mediating role will not only help the conflicting parties, but will in effect put the concept of energy security on the negotiating table. On the other hand, for parties to commence a mediating role, they should have an unbiased attitude toward the conflicting parties. Both these countries have strong and clear intentions to use oil diplomacy to their own benefit and manipulate the results in the SSA oil strategic setting. In SSA, AFRICOM is set out to achieve military dominance on the African continent and establish military strategic partnerships with petroleum producing countries. Nigeria, Sao Tome and Principe and Angola along the west coast of Africa are the main hotspots for US and Chinese oil interests. Nigeria is the biggest exporter of oil in the region, and in the last five years had allocated valuable oil drilling licenses to US and Chinese oil companies. Nigeria already supplies the oil needs of these two giants, especially to the US. Sao Tome and Principe and Nigeria (Sao Tome, Nigeria sign oil deal with US-led consortium, 2005) signed a milestone contract to give a consortium led by the US based oil company, ChevronTexaco, rights to drill in the two countries shared Gulf of Guinea oil exploration zone. China has secured four oil-drilling licenses from Nigeria in the last three years. In exchange, China will invest US$4bn in oil and infrastructure projects in Nigeria (BBC News, 2006). Nigeria, Africas top oil exporter, has long been viewed by China as a partner. From the recent contracts allocated by the governments of Nigeria and Sao Tome and Principe to US and Chinese based oil companies, it becomes clear that US-Sino oil diplomacy in SSA focus on establishing long-lasting relationships (BBC News, 2006). The giant Chinese state-owned China National Offshore Oil Corporation, CNOOC, has reached a deal to buy a 45 percent stake in a Nigerian oil field for more than US$2 billion. The purchase, if approved by both governments, would be Chinas first major venture into oil-rich Nigeria. Analysts say the Nigerian bid will not be easy for CNOOC, which has no experience in dealing with Nigeria, a country rated as a difficult place to do business. The international anti-corruption group Transparency International ranks the country as the sixth most corrupt nation in the world. The American oil company Chevron did not bid on this block, and that would imply they did not believe the values were there. So this is certainly a hurdle which CNOOC will have to overcome. Chinese and Nigerian governments will sign two important agreements: one on economic and technology cooperation and a memorandum of understanding on developing a strategic partnership. China is offering assistance in the form of building new tanker terminals, refineries and possible pipelines to export the oil from remote regions to the coast for easy loading (Ramirez, 2006). China is streamlining the oil infrastructure in SSA, according to their specific needs. This is an infrastructure that on the one hand satisfies their oil demands, but on the other hand leaves the host country no choice but to become dependent on the Chinese oil expertise.The result is that petroleum producing countries in the long run will be more dependent on Chinese investments to sustain their economies, rather than China being dependent on their oil imports. This interaction clearly indicates that Chinas preferences are shaped on establishing some sort of economic superiority over their oil strategic partners and forcing petroleum producing states to be dependent on Chinese intervention. If China has more control over the oil affairs of host countries, it will give them a stronger bargaining base and increase their strategic advantage. The longterm goal of countries that seek to control the economies of its trading partners is to transform economic gains into security gains, so that in the long run, economics and security are inseparable (Snidal, 1993: 73). When China can control the economies of petroleum producing states, it will have strong incentives to move one step further and create military strategic partnerships. The supply of military equipment, providing of nuclear technology, and perhaps positioning of Chinese troops in petroleum producing states, as overseers of its oil operations, cannot be excluded from its African engagement strategy. By successfully negotiating with petroleum producing states and gaining diplomatic prestige, the other state will immediately be in a less favorable situation. In doing so, the preferences will have a stronger strategic value and gives stronger bargaining power. Strategic values or interests are valued not for themselves, but for their contribution to the protection or promotion of other interests in the future. They are â€Å"interests defined in terms of power†, to recall Morgenthaus memorable phrase (Snyder, 1997: 23). The motivation for the US and China is to try and establish alignments with petroleum producing states. In this way, they their strategic values will be more clearly defined and they can implement strategies to control certain oil fields, offshore oil rigs, pipelines and sea passages. The indication is that the sea around the west coast of Africa, stretching from Nigeria in the north to Angola in the south, is expected to raise problems concerning the transpo rtation of future oil supplies. Because the US and China both have to use these sealanes to transport crude oil and gas, it might become a point of conflict. Determining Preferences Preference determination is typically specified in one of three ways: by assumption, by observation and by deduction (Frieden, 1999, p. 53). The objective with this section is to explore these ways and determine their analytical value in the context of the actors preferences in the SSA oil strategic setting, with the main emphasis being on the US and China. Because the US and China both have energy security interests, they have formulated energy security policies at the national level, and these policies are based on assumptions of realism or liberalism. Determining the preferences of the US and China by deducing preferences from these assumptions will offer one of the most analytically satisfying routes to see what specific preferences they hold in the SSA oil strategic setting. It is easiest to assume preferences. In the principal application in international relations to the preferences of nation-states, the simplest assumption might be that states attempt to maximize national wel fare, or assume that states maximize national resources (Frieden, 1999: 53). A comparison between the preferences of economics and the preferences of international politics shows that there are distinctions with regards to the actors involved and the goals they pursue. In economics, there is limited variation in the cast of characters, particularly firms and individuals. Firms prefer profit maximization and individuals prefer wealth maximization (Niou, Ordeshook. Rose, 1999: 54). However, international politics involves individuals, firms, groups, nation-states, international organizations and transnational actors. The preferences of ChevronTexaco and Chinas Petroleum and Chemical Corporation (Sinopec), may in general terms be homogenous, they are engaged in every aspect of the oil and natural gas industry in the SSA oil industry, including exploration and production, refining, marketing and transportation, chemicals, manufacturing and sales (The leadership functions of Chevron Texaco , 2007). However, the reality is that American and Chinese oil companies operating in SSA are in effect not only serving the interests of the oil industry and acting as channels for the procurement of oil imports for their local economies, but they also serve as useful instruments in the hands of politicians to control and manipulate the oil industries of the agent states. Expansion of US and Chinese oil operations in SSA since the start of the twenty first century are providing them with more power on the continent. The direct result of gaining more power in the oil industry is that the petroleum producing states are getting entangled in a web of either American or Chinese influence. This influence is leading to a state of dependency of petroleum producing states on US and Chinese involvement in their oil industries. In terms of economic considerations, the US and China prefer different outcomes in their oil diplomacy with petroleum producing states. The US regards the pursuing of economical interests a

A Study On Internet Banking In Nepal

A Study On Internet Banking In Nepal This research is the effort for study and analyzing the Internet Banking in Nepal Bank Limited. Internet Banking can be defined as the use of technology to communicate instructions to and receive information from a financial institution where an account is held. Internet Banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business or obtain information on financial products and services through a public or private network, including the Internet. Since the launch of Internet the large planet has become a smaller one. It has rendered enormous impacts on business sectors. Remarkable development in Information and Communication Technology (ICT) has introduced a global revolution in banking industry. The global trend in business arena set some challenge that cannot be fulfilled with the help of the traditional banking system. The survey of current banking system in Nepal reveals the fact that it requires rapid modification and adaptation to keep harmony with the world economy business. It becomes more obvious by observing the increased number of customers in some modern bank while others are losing them. The existing banking system in our country is slow and error-prone. In one hand, fails to meet the customers demand and it causes some significant losses both for the banking authority and traders. E-Banking, on the other hand solves the above problems. Furthermore, it opens up some other salient aspects such as increased foreign trade and foreign investment. Most plan allow customers to perform all routine transactions, such as account transfers, balance inquires, bill payments and stop payment requests everything but its very easy to set up an account. We can access our account information anytime day or night and we can do it from anywhere. A few online banks update information in real time, while others do it daily. 1.2 Introduction of Origin and Growth of Bank in Nepal The growth of banking in Nepal is not so long. In comparison with other developing or developed country, the institutional development in banking system of Nepal is far behind. Nepal had to wait for a long time to come to this present banking position. The origin of bank in Nepal and its beginning of growth is controversial. Even though the specific date of the beginning of money and banking deal in Nepal is not obvious, it is speculated that during the reign of the King Manadev, the coin Manank and Gunank during the reign of the King Gunakamadev were in use. After the establishment of Nepal Bank Limited on 30th Karkik, 1994 (1938), modern banking system started in Nepal. Under the Nepal Rastra Bank Act 2012 (1956), Nepal Rastra Bank was established in 2013(1957) Baisakh 14th in Nepal. But this act has been repealed and the Nepal Rastra Bank Act 2058(2002) has been enacted by the parliament. After its establishment, it issued the Nepali notes on 7th Falgon 2016 for the first time. Gradually, bank develop their services in Nepal according to requirement of customers and to compete market so today we can transact via non cash elements : like Internet Banking, Credit Card, ATM Card and SMS banking etc. 1.3 Nepals ICT Background Nations worldwide have recognized development opportunities and challenges of the emerging information age characterized by Information and Communication Technologies (ICT). These technologies are driving national development efforts worldwide and a number of countries in both developing and the developed world are exploring ways of facilitating their development process through development, deployment and the exploitation of ICT within their economies and societies. Nepals journey into the world of information technology began some three decades back with the use of IBM 1401 for the population census, 1971. Royal Nepal Academy for Science and Technology (RONAST), for the first time, used the internet. Mercantile Private Limited started email services for commercial purpose in June 1994. In 1995 government purchased the machine for further data processing in the Bureau of Statistics and established a separate organization called Electronic Data Processing Center (EDPC) and after 6 years it converted to National Computer Center (NCC). Government has formed High Level Commission for Information Technology (HLCIT), which is playing the role of facilitator between private and public sector in the development of ICT in Nepal. 1.4 Introduction of Internet Banking Internet banking refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device. Internet banking products and services can include wholesale products for corporate customers as well as retail and fiduciary products for consumers. Ultimately, the products and services obtained through Internet banking may mirror products and services offered through other bank delivery channels. Some examples of wholesale products and services include: Cash management. Wire transfer. Automated clearinghouse (ACH) transactions. Bill presentment and payment. Examples of retail and fiduciary products and services include: Balance inquiry. Funds transfer. Downloading transaction information. Bill presentment and payment. Loan applications. Investment activity. Other value-added services. Other Internet banking services may include providing Internet access as an Internet Service Provider (ISP). The OCC has determined that a national bank subsidiary may provide home banking services through an Internet connection to the banks home banking system and, incidental to that service, may also provide Internet access to bank customers using that service. Historically, banks have used information systems technology to process checks (item processing), drive ATM machines (transaction processing), and produce reports (management information systems). In the past, the computer systems that made the information systems operate were rarely noticed by customers. Today, Web sites, electronic mail, and electronic bill presentment and payment systems are an important way for banks to reach their customers. 1.5 Statement of the Problem Establishing Internet Banking infrastructure has been a challenging task for the developing countries like Nepal. In the context of Nepal there are ample of problems in Internet Banking some of them are given below : Computer and Banking Literacy : In aggregate here is low level of IT literacy. Very few people are computer literate in Nepal and very few people understand banking system or banking process even educated people also there. Infrastructure Development : Though banks reach with their services in rural area ISP or NTC services is not available there for internet services and vice versa. Risk Management : In Nepal, Internet Banking is at its infancy right now. However, no Internet Banking frauds have been found yet. Lack of understanding of internet technology may be the reason. But precaution must be taken. In order to mitigate the risks associated with all e-banking businesses, banks should have in place a comprehensive risk management process that assesses risks, control risk exposure and monitors risks. Security : Security of a transaction, authenticity of a deal, identification of a customer etc are important technological and systems issues, which are major sources of concern to e-banking. Customers are afraid from online attack. Various online attacks are also available. 1.6 Objectives of the Study The main objectives of proposed research are to study, analyze and understand the Internet Banking of Nepal Bank Limited. Some of the other objectives are as follows : To identify the problems in existing Internet Banking services of Nepal Are public satisfy or not from Internet banking Services ? If not what will be the effective service delivery mechanism. To identify the prerequisites to get the Internet Banking services The research tell prerequisites to get Internet Banking services (for e.g. Computers, telephones, internet, customer should be account holder of bank) To examine the service delivery of different banks of Nepal The research includes various types of Internet Banking services provided by different banks to general public. 1.7 Scope of the Study The study will be mainly focused on three components of the study area : Social aspects : In social aspect the studied is focus on public participation according to their satisfaction, knowledge, beliefs, values etc. Technical aspects : This aspects is concerned with the technically how to develop system and technology used on projects. Economic aspects : In the economic analysis part, the study will focus on the possible areas of economic development by using this Internet Banking. 1.8 Limitation of the Study This research is the small effort for study and analyzing the Internet Banking services of Nepal which has limited time so it cannot focus on all areas and may not be able to explore many fields. This research work is done within limited time frame during the MBS dissertation. There are so many constraints while doing the work such as inadequate time, load shedding, and resources etc. To understand methodology of Internet Banking service is very difficult because banks only provide surface level of information because of their security concern. In spite of great effort, there are many limitations of this research work. The major limitations are as follows : In the field of E-banking, there are so many arenas like ATM, Tele Banking, Mobile Banking etc. but this research does not focus on all the e-banking services. Research works mainly focus on Internet Banking. Fund transfer is possible within the branch of bank. It means once cannot transfer amount from one bank to another bank. Banks have their own policy but there is no any standard policy for Internet Banking in Nepal. In the field of Internet Banking security is must but this research doe not cover all the aspects of security. General customers and corporate customers of Internet Banking system have same kinds of facilities. 1.9 Organization of the Study This study is organized and decorated in seven chapters. Each chapter and unit will be on a prescribed format of thesis writing to the partial fulfillment of MBS program. Each unit gives the clear picture or roadmap of the study. Chapter One This chapter deals with Introduction of The Study. In this chapter, separated unit for background, significances objective and limitation of the study has mentioned. Chapter Two This chapter focused Review of Literature. In this chapter, various relevant such as different books, journals, article and previous thesis mention has mentioned. Chapter Three Third chapter presented Research Methodology. In this chapter, research design, sources of the data, method of data collection and analysis has mentioned. Chapter Four This chapter deals with Analysis of Internet Banking. This chapter provides the different analysis like strength, weakness, opportunity, threat (SWOT) analysis and feasibility analysis of Internet banking. Chapter Five Fifth chapter deals with Internet Banking Security. Security in Internet Banking comprises both the computer and communication security. Therefore this chapter consist different security principles, cryptographic key management, RAID etc. Chapter Six This chapter focused on System Analysis and design to present the current Internet Banking system. This chapter provides requirement analysis, process modeling, data dictionary, hardware and software requirement to execute program. Chapter Seven Seventh chapter presented with Summary, Conclusions and Recommendation of the Study. 1.10 Research Design There are two types of research approaches qualitative and quantitative. In the quantitative approach results are based on numbers and statistics that are presented in figures, whereas in the qualitative approach where focus lies on describing an event with the use of words. This study is the result of qualitative research using comparative and analytical methods. The comparative research was conducted in two ways : Firstly, the comparison is carried out by investigating the availability of basic services of Internet Banking in different banks of Nepal. Secondly, the comparison is also carried out by investigating the different features offered by banking institutions in Nepal. For that purpose, reviews of website from banks are conducted. Thus to gain practical knowledge of Internet Banking in the Nepali context, this research is conducted as a qualitative study to explore the perception of Internet Banking among Nepali Banks. Hence, the aim is not to make any simplification but instead establish a closer contact with the objectives of prior research which intend to provide us a deeper understanding of the participants attitudes and perceptions. Finally my intention with this research is to understand Internet Banking first describe and explore, find and analysis detailed information about Internet banking services provided by different banks of Nepal so qualitative approach is the most suitable method for my research. 1.11 Source of Data Both primary as well as secondary data have been collected in order to achieve the real and factual result out of this research. All possible and useful data available have been collected. The major sources of data are as follows : a. Primary Source The primary data are collected from primary sources. The primary sources of data are the opinion survey through questionnaire, field visit and information received from the respondents. Some of the information was also collected from interview with the respondents. b. Secondary Data The secondary data are collected from secondary sources. The secondary sources of data are the information received from books, journals and article concerned with the study for example website of the Nepal Bank Limited, thesis and dissertation submitted at Shanker Dev Campus, Central Library T.U.

The Man Named Arnold :: essays research papers fc

Joyce Carol Oates’ â€Å"Where Are You Going, Where Have You Been?† tells us about the life of Connie who has no guidance in life, because her family has not provided any moral support to help through her teenage life. She only knows about popular culture and not the consequences that comes with it. Without proper direction to face problems, Connie is confronted by Arnold Friend who has a plan to do some grotesque things to her. This encounter between them causes a power struggle between them that provides Connie downfall toward potential death. Arnold’s proclaimed supernatural ability controls and manipulates Connie’s mind and spirituality to strip her of any dignity that exists within.   Ã‚  Ã‚  Ã‚  Ã‚  Arnold had â€Å"a special interest in Connie† to carry his deed in taking her soul or something from her (619). He has knowledge about everything Connie is involved, because he has devil like qualities to take control of her destiny. A lack of experience to face problems or people like Arnold can affect the thought process into making a logical decision therefore doing things without knowing what will happen at the end. Arnold’s presence provides a dominant feeling to Connie who does not know Arnold’s intentions. He takes advantage of pop culture to find out how to get to her though music, clothes, and boys. Arnold was somewhat outdated to the time, but he was still close enough to trick Connie into thinking he was a teenage.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Bennett 2   Ã‚  Ã‚  Ã‚  Ã‚  Connie can not possibly be prepared for what Arnold has in store for her, since she was not properly taught about having morals. The family did not have any strong ties with each other to protect Connie from any harm. She decided to â€Å"stay home alone† to avoid any conflicts with her family (617). When Arnold comes, she is drawn to him physically causing him to know that she is under his control. There is no hope for Connie since she does not know what to do about Arnold. How can this situation be avoided without a strong knowledge of the opposition? This was a question that never came into the mind of Connie. The only thing she was really worrying about was what was Arnold going to do if she did not go with him. Connie is scared to the fact that she can not believe this is happening to her. This does not happen in popular culture and music, but it happens in reality.

Pastoral care :: essays research papers

African American Pastoral Care by Edward P. Wimberly is a supplement to the book written in 1979 on Pastoral Care in the Black Church. Pastoral Care by African Americans shows pastoral counselors how to care for African Americans through a narrative methodology. By linking personal stories and the pastor's stories to the heart language of the Bible stories, counselors can use God's unfolding drama to bring healing and reconciliation to human lives. Further, demonstrating that caring can be shown through story telling and is widely used by the black church. The stories relayed are basic methods used in the past by black clergy, seminary students and lay people. Using the methodology of storytelling can build and improve the care given by our black pastors. Black Pastors share stories how caring for their members rely on seven needed narratives gained from stories and metaphors. They motivate their members to action by: helping them to see themselves in a new light, help them recognize new resources, enable them to channel behavior in constructive ways, sustain them in crisis, bring healing and reconciliation in relationships, heal scars of memories, and provide guidance when direction is needed. The African American Pastor tell stories that help people gain a glimpse of hope in the midst of suffering. Metaphors have been used for centuries to link Christians to positive directions in life. God from the very beginning uses identifying through biblical stories to heal, provide wholeness, and liberation for the sake of others. God provides four major functions to act in our lives: to unfold, link, thicken, and twist to arrive at the final outcome of our purpose in life. In examining the Pastoral Care shared through God’s four major functions we begin to understand what is meant by unfold, God plans our lives one scene and one chapter at a time, and the purpose is not revealed until the complete story is complete. We then rely on Gods guidance to link the unfolding story to their lives. The scriptures help to relate the plot of the story to themselves. Black Pastors sharing their stories with members who see from the unfolding events and how they relate every day. Thickening refers to those events that intrude into God’s unfolding story and seek to change the direction of that story from all involved. Suffering sometimes stakes its claim on our lives and hinders our growth and development.

Ethical Behavior of Dan Amos of American Family Life Insurance Company (AFLAC) Essay

American Family Life Insurance Company (AFLAC), a Fortune 500 company, and their Chief Executive Officer (CEO),Dan Amos, were recently recognized by Ethiosphere Magazine as the World’s Most Ethical Company for the fourth consecutive year (Aflac Named Most Ethical Company for Fourth Consecutive Year, March 2013). This award is given to companies who demonstrate a commitment to ethical leadership, corporate social responsibility, and compliant practices. More information about the methodology and selection criteria and the complete list of the 2013 World’s Most Ethical Companies can be viewed at http://ethisphere.com/wme. â€Å"The research-based Ethisphere ® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. Ethisphere Magazine, which publishes the globally recognized World’s Most Ethical Companies Ranking, is the quarterly publication of the Institute† (Aflac Named Most Ethical Company for Fourth Consecutive Year, March 2013). AFLAC has won this award seven times. Dan Amos began his career at AFLAC in 1973 as a sales representative. He was promoted to President in 1987, Chief Operating Officer (COO) in 1990, and Chief Executive Officer (CEO) and Chairman of the Board in 2001 ( Reference for Business, Encyclopedia of Business,2nd edition, n.d.). During the first four years as the CEO of Aflac, revenue grew from $2.7 billion to $9.6 billion. Amos was responsible for the advertising campaign that featured the Aflac Duck. By 2004, polls reported that AFLAC and its mascot Duck was recognized by 96 percent of all Americans. Aflac’s revenue has increased over the years and now is reported to exceed $25.4 billion (AFLAC at a Glance, 2013). This quote from Amos is very indicative of his philosophy,†Give your employees everything they need to succeed, and they will give everything they can to help the business succeed† (AFLAC Named Most Ethical Company for Fourth Consecutive Year, March 2013). Ethical conduct according to Baack 2012 is the observable words and deeds designed to seek the goal of integrity in everyday business. Dan Amos has invested donations to fund cancer research and developed Georgia’s AFLAC Cancer Center at Atlanta’s  Egleston Children’s Hospital. To date AFLAC has raised over $79 million in donations to children’s cancer. Every executive within AFLAC must sign and abide by the Code of Ethics for Chief Executive and Senior Financial Officers. Here is the overview for this document. Everyone is required to comply with all of the laws, rules, and regulations that govern the conduct of our business. Senior Officers have additional leadership responsibilities, which include creating a culture of high ethical standards and commitment to compliance, maintaining a work environment that encourages employees to raise issues and promptly addressing employee compliance concerns (Code of Conduct, August 2013). All Senior Officers must report any suspected violation of this Code for Senior Officers. Any violations of this Code for Senior Officers may be subject to disciplinary action, up to and including termination. This code of conduct is repeated throughout this entire organization at every level. Their reputation is considered one of their most valuable assets. They protect their reputation as closely as they protect the physical assets of the company. This year marks the 23rd year that Dan Amos has been the CEO of AFLAC. During his tenure, there have never been any corporate scandals or any convictions of business wrong doings. Dan Amos and AFLAC have grown this business on the premise that ethics will equal profits. Aflac’s success is based on honest dealings with customers, a fair product for a fair price , treating employees with respect, and paying a fair wage. References AFLAC At a Glance,(August 2013) Retrieved from http://www.aflac.com/aboutaflac/corporateoverview/ AFLAC Code of Conduct,(August 2013),Retrieved from http://www.aflac.com/investors/corporategovernance/cgconduct.aspx#6 Aflac Named Most Ethical Company for Fourth Consecutive Year, (March 2013). Retrieved from http://www.prnewswire.com/news-releases/aflac-makes-ethispheres-annual Baack, Donald (2012). Management Communication. Chapter 8, San Diego, CA: Bridgepoint Educational Inc. Reference for Business, Encyclopedia of Business,2nd edition,(n.d.), Retrieved from Http://www.referenceforbusiness.com/biography/A-E/Amos-Dan-1951.html

Pepsi Marketing Essay

Supermodel, entrepreneur, actress, Cindy Crawford has been promoting the OMEGA brand since 1995. Her striking beauty and international appeal are the perfect complement to OMEGA’s image. Cindy even helped to design a collection dedicated to her: the Constellation My Choice. PEPSI: Today’s PepsiCo, Inc. was found in 1965 through the merger of Pepsi Co and Frito-Lay, the world’s largest manufacturer and distributor of snack chips. In 1998, it acquired Tropicana, the world’s largest marketer and producer of branded juices. In addition to the main body of 3 companies, the Pepsi-Cola Incorporation also owns four well-known fast food restaurants in the world; they are Pizza Hut, Taco Bell, KFC, and Burger King. Furthermore, with its 4 fast food restaurants, PepsiCo Inc. owns 24,000 restaurants, more than McDonald’s 14,000. Based on PepsiCo Incs annual report in year 2000, PepsiCo Inc. has total net sales of 20.438 billion US dollars and they are worth 44 billion dollars in stock value right now. There are several reasons why the world’s second largest soft-drink company, the PepsiCo Inc., is very successful in the world and almost exceed the current market leader in soft drink industry, Coca-Cola. These reasons are taste, investment, management policy, and marketing strategy. In this report, we will put our main focus on marketing strategies and more details analysis, such as 4Ps (product, price, place, promotion), SWOT analysis (strength, weakness, opportunity, threaten), Marketing Environment (economic, technological, cultural, social, and competitor), advertising, and target market, etc. First element of 4Ps is product. With more and more customersãÆ' » unique needs, besides its regular Pepsi, it adds regular caffeine-free Pepsi, Diet Pepsi, Diet Caffeine-free Pepsi, Wild Cherry Pepsi, and Diet Wild Cherry Pepsi into its product lines. Its Diet Pepsi is even the first of its kind in Cola market. For the price, based on the laws of demand and supply, price plays a very important role in customersãÆ' » initial purchase. In addition, psychologically speaking, customersãÆ' » have such mentality to judge a productãÆ' »s quality by its price. Therefore, Pepsi has to determine its price very carefully. If the products are wrongly priced, either damage to its reputation on quality or lost of sale due to high price will be resulted. However, Pepsi seems to do fine at the moment. Based on their corporate pricing policy, providing quality products at lowest possible price has always been one of their main concerns. For example, in some parts of the country, a 2-liter bottle of Pepsi costs 99 cents a decade ago and still does today. As for the place, it has to get the right target market and has to be available when customers need. Pepsi has done a great work on the place, because their channels of distribution certainly provide their products at any market in the American very successfully. Last and the most important element of 4 Ps is promotion. It is so important because how they promote their products will affect how successful their message will be delivered to their target audiences. In 1963, they created a new product policy that is called ï ¼Å¡The Pepsi of new generationï ¼â€º. They focus on customerãÆ' »s needs and wants. Also, they try to make people memorize their product. Lots of soft drink customers do not have so-called royalty toward certain brand. Such issue was well noted by PepsiCo Inc. and decides to change customersãÆ' » buying habit. During that time, ï ¼Å¡The Pepsi of new generationï ¼â€º is a very successful campaign until 1988. After that, they have changed the marketing scheme to ï ¼Å¡The Choice of a New Generationï ¼â€º and still using the same process today. Right now, Pepsi has a special campaign called ï ¼Å¡The Pepsi Challengeï ¼â€º that gets a lot of attention from people and offers a good opportunity for Pepsi to earn more profit. In 1974, this promotion also works very well in Kansas. Advertisement is another promotion; they usually focus on the teenager. From Electric Youth to Generation next, Pepsi has had its finger on the youth pulse of every decade. In their advertisings and target markets, they always use idols to catch teenagersãÆ' » attention. For example, in 1984 to 1999, they use Michael Jackson and Ray Charles etc. to be PepsiãÆ' »s spokespersons. In 2001, they have signed a 100-million-dollars contract with Britney Spears to be PepsiãÆ' »s next spokesperson. The SWOT analysis is another important concept in the marketing. The strength of the Pepsi is his strong, well-recognized brands. Pepsi-Cola owns many of the worldãÆ' »s best-loved consumers brands, especially in North America. According to annual report, the percentage of the total sales volume is 45% in North AmericaãÆ' »s market. For many years, Coca-Cola still has a great position in the American. As a result, if Pepsi-Cola wants to replace the number one position that is a very hard task, and also a big weakness for Pepsi-Cola. Even though PepsiCo has better total sales than Coca Cola (20.4 billion vs. 16.2 billion), however, the market value of the whole company is just about half of Coca Cola (44 billion vs. 93 billion). The main reason is that PepsiCo has its foot into fast food market. Furthermore, the profit margin they make is not even one third of current market leader in fast food industry-McDonald (4% vs. 15%). Pepsi-Cola has launched a campaign called ï ¼Å¡The Pepsi Challengeï ¼â€º that gives Pepsi-Cola a good opportunity, because they might get more customers to accept the products and gain the sales revenue for Pepsi-Cola. Because there are a lot of competitors in the soft-drink industry, these competitors often introduce new tastes from time to time and customers have the tendency of trying new tastes while PepsiCo Inc has limited product lines in soft drink despite the fact that they have already have juices, root bear, ice teas, etc. Needless to say, this is a very big threaten to the Pepsi-Cola. The economic environment can affect Pepsi-Cola very significantly. If we have bad economic situation, people will watch their own packet more carefully and, in turn, the sales revenue is the first thing to suffer. Although such impact might not be very severe to PepsiCo because Cola can be seen as a daily necessity in American, yet, they still have to keep close watch. The 270 million people in America consume about 28 million cases of Pepsi Cola annually. In American culture, and its social environment, Pepsi-Cola doesnãÆ' »t need to have a significant change since Pepsi-Cola is a very traditional favor. As a result, Pepsi-Cola Company should focus on two main things- get peopleãÆ' »s attention and create the ï ¼Å¡Needï ¼â€º. Our technology environment is growing very fast and so does Pepsi-Cola in its technology to operate their products. Pepsi Company always builds their products at highest quality and catches up with the new technology. Pepsi can always be peopleãÆ' »s favorite; because Pepsi Company always adapts whatever new technology is available in the market today. In competitor environment, we know that Pepsi-Cola Company face three main competitors: Coca-Cola, Quaker Oats, and Cadbury Schweppes. As stated by the President of Pepsi ï ¼Å¡in the Cola War, there is never a winner. It is not important whether you win or lose; the more important is that to have fun in the Cola Warï ¼â€º. Although my information might not be sufficient, there are still many different types of information customers could research by themselves. Consumers can also compare information about different or competing  companies more easily because information is literally at their fingertips. Consumers don’t have to deal directly with or influenced by sales people to make their decision of purchases. Companies can also stay in touch with their customers and suppliers by creating web pages and setting up Internet addresses to receive e-mail from customers worldwide. Basic Marketing: A Global-Managerial Approach, 13th edition Irwin McGraw-Hill, 1999 Gornstein, Leslie. â€Å"On-line Marketers Targeting Kids.† San Diego Union-Tribune, July 2, 1996, Page 4. Pepsi Co. Incorporation Annual Report 1997-1999 Pakistan has a multimillion dollar official contract with Pepsico which entitles the company to put a ‘Pepsi’ logo on all players kits. Each player gets around Rs 1.8 million every year from this deal. In addition, Pepsi is almost always the title sponsor of series held in Pakistan. But it seems that there is nothing in the Pepsi contract that forbids players from promoting another soft drink off the field. All rights are for on-field promotion, which the players have not violated. PEPSI PROMOTES CRICKET†¦.. http://www.pepsi.com/current/index.html http://www.pepsiamericas.com/ http://www.thestreet.com/funds/investing/1396149.html http://www.hoovers.com/co/capsule/9/0,2163,55869,00.html http://garden.2118.com.cn/cnfoods/big5/sale/PACKAGING –Back to Top– Providing our consumers with easy-to-use, convenient and innovative containers is one of our top priorities. Package introductions we’ve made over the years include the industry’s first two-liter bottle; the first company to respond to consumer preference with lightweight, recyclable, plastic bottles; The Cube, an easy-to-store 24-pack; Big Slam, the wide-mouth one-liter bottle; as well as our three-liter bottle, designed to provide consumers with extra value (not all products and packaging is available in all markets). Our local bottlers, many of which are privately owned, franchise operations,  make all packaging decisions. Most of our bottlers are following the industry-wide trend to use plastic packaging due to environmental considerations. The industry is now making greater use of fully recyclable aluminum cans and PET plastic bottles. More information on Pepsi-Cola’s environmental commitment, including its packaging initiatives, can be found here. The â€Å"CUBE† is Pepsi’s new innovative 24-can multipack. It was dubbed the â€Å"CUBE† by consumer focus groups, which are a small test market population that’s invited by Pepsi-Cola to give the company feedback before the introduction of a new package or product. The consumer focus groups Pepsi used for this product coined the name the â€Å"CUBE† and it stuck! Polyethylene terephthalate, or â€Å"PET plastic,† is a form of polyester used to make strong, lightweight, shatter-resistant bottles for soft drinks, water, juice and other non-food products. Bottles made from PET plastic, which are marked with the number one code on the or near the bottle of the bottle, are recyclable into products including new containers, fiberfill for sleeping bags and coats, fabric, carpet, auto parts, film and more. 2.htm omega: The World of Omega is defined by high-profile watches on display in the most select show-windows in more than 130 countries around the globe. Fine timepieces worn by outstanding â€Å"ambassadors† like Cindy Crawford, Pierce Brosnan, Michael Schumacher and Martina Hingis†¦ Leaders in their fields who express the spirit of the brand through their faces, their words and their actions, reflecting all the elegance, sophistication and achievement behind every Omega watch. â€Å"Constellation† A star on the wrist of the stars. â€Å"The Constellation is consistent with my image†, says Omega spokesperson Cindy Crawford. â€Å"My Constellation has three qualities I admire: precision, elegance, reliability. And for someone who travels as often as I do, it’s an essential and beautiful fashion accessory†. In space, with the â€Å"Speedmaster Professional†, the only watch worn on the Moon and winner of NASA’s Snoopy Award for helping to save the Apollo 13 mission astronauts; Omega Cindy Crawford Model:1465.71 Gender/Size:Mini List price:$2,595.00 Stainless steel case(22.5mm) and bracelet, Mother-of-pearl dial with silver pyramid markers, diamond bezel with 30 diamonds totalling .42 karats in diamonds (G-H color, VVS clarity), diamonds in bezel set in 18kt white gold, Swiss quartz movement, water resistant to 30m. Comes in beautiful gift package. SHOW STOPPER! Coupons not valid on this model. Conclusion At the start of this review, I mentioned the fact that I have recently started to look more at the value for money end of the market, or if you will, lower priced end of the market. Having worn the Zeno for a few months I have to say that I suspect that there are some pleasant surprises for those who don’t want to spend a fortune on a watch but want something that is different, rugged, water resistant, reliable but mechanical. The Zeno confirms my theory that a good watch needn’t be expensive. It has been accurate, reliable, I have worn it everywhere and many people have asked me if it was new old stock from the 1960s! So, yes, I do recommend the Zeno but are there any downsides.? Not really given the price tag of this watch. It is personal preference as to whether one likes the looks or not. Personally it is different but classic to my eyes; I like the design. Not forgetting that Zeno make a large range of watches of the rugged variety, both mechanical and q uartz and they would all appear to offer good value for money. I might buy more!! Thanks for reading this; I hope you enjoyed it and please bear in mind that all the contents are just my opinion based on my experiences. My watch was obtained from a very affable and helpful UK Zeno dealer who’s site is worth visiting to see more examples of the range, web address below: Omega Watches Omega’s commitment to quality watch making spans 150 years and dates back to its beginnings in Switzerland as one of the first watch companies established there. Omega watches are fit for royalty and feature the highest quality components, precious metals, and technology within every watch that they manufacture. With celebrity  endorsements from Pierce Brosnan, Cindy Crawford, and Ernie Els, Omega has established itself as one of the most popular luxury watch brands around the world. The original symbol of perfection and quality, the Greek letter Omega, represents all that the Omega watch company strives to be. For over 150 years, the team at Omega watches has created timepieces of extreme perfection and are proud to participate in some of the world’s most historic and precisely timed moments. After all, if NASA and Formula 1 rely on Omega watches to keep track of their time, why shouldn’t you?