Mexican wave bye-bye?

18 April 2011 last updated at 23: 01 GMT by Julian Miglierini BBC News, Mexico City Acapulco, Mexico's prime tourist destination, takes a war much affected by drug-related violence, it is said, comes at a price – not only in human life, but also on the health of a country's economy.

Mexico, a bloody war against drug cartels, seems untouched by the conflict - but do business in that country is not easy for anyone in times of rising crime.

Mexico's economy is firmly - growing next 5.5% in the operations and optimistic expectations throughout this year, a healthy recovery from the effect on the neighbouring economy had recession in the United States.

Mexican Finance Minister Ernesto Cordero recently said there was "no evidence" the BBC suggest investors were from the conflict by the presence of organized crime groups by using the country as a route to transport dissolved drugs in the United States will be postponed.

As for tourism, one of the largest earners of Mexico's foreign currency, "we have very high rates of occupancy, it seems not affected," said Mr. Cordero, added, that the priorities for the violence were not usually tourists visited.

To say that on the Acapulco hotel.

Call a hit

The resort on the Pacific coast, one of the most important tourist destinations of the country for domestic and foreign tourists, has become a battlefield in the fight against organised crime.

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everyone has problems, restaurants, bars, even people sell items on the beach "

end quote José Luis Espejel Copacabana hotel almost 700 people died in drug-related events since 2006 in the city, and shooting between rival drug cartels and with the security forces are common."

Foreign tourists have not targeted and district has hotel in particular through the violence - spared been but headlines around the world "Acapulco's descent into violence" reputation have badly tarnished the city.

Sitting under a sun lounger by the pool in the Hotel Copacabana, chief Concierge, José Luis Espejel admits that tourism is declining.

He talks about the "spring breakers", the U.S. University students, the from late February to early April South of the border for warm temperatures and beach parties herd.

Breakers was following warnings by some in the United States against travel to parts of Mexico, Acapulco from the radar for early in the year 2011.

Mr Espejel says, that during the last year about 2,600 students filled the rooms of the hotel, appeared in this year only 60. The official figures from the Acapulco authorities say the number spring break, which this year fell by up to 93% compared to 2010 came.

She had a huge impact on the town living.

"There are no jobs," he says.

"Low occupancy, no revenues, obviously no gains." "And these are not only hotels - everyone has problems, restaurants, bars, even people selling items on the beach."

Positive

Information according to the authorities visited some 22 million tourists Mexico in 2010, by 4.4% compared with 2009.

The Acapulco divers are one of the most important tourist attractions of the city

Critics say that the increase is nothing to celebrate - entry since the number of tourists was in 2009, as Mexico reported in the swine flu was the first country were had.

Other sectors of the economy are healthier indicators show.

The announcement, earlier this year, the US retail giant Wal-Mart, that it more than 1 billion $ invest would (£ 615 m) on the Mexican market was still further evidence of the Government, the foreign investors in the were put off by rising crime praised.

Antonio Ocaranza, spokesman for Wal-Mart Mexico, says that while she noticed some changes in the people's Party had purchase pattern - further grown, for example, in some areas of the country in which they avoided due to security concerns shopping after dark - their sales.

"We see that the current circumstances affecting some cities in the country, I, that this is a country, that think about what happens now, has tremendous growing opportunities."

In fact, Mexico rank high was the leading country in Latin America in a World Bank report on the ease of doing business - amount of hurdles a company credit or access to other criteria set - it.

Unemployment in Mexico is the lowest in all the Americas and one of the lowest between Member States of the Organization of cooperation and development (OECD).

' Extortion fee'

But it is argued that Mexico's economy good signs indicating the violence there could be prevented or more to grow.

Recently, a Chief Economist of BBVA, a number put on Spanish bank - one of the largest investors in Mexico.

"There would be no violence, the Mexican economy 1% on the prices of recent years would have grown", said Jorge Sicilia from BBVA analyst.

This is considered by many not only investment in additional security for companies, but attributed to the fact their business kidnapping and extortion turns have to drug cartels in sophisticated organized crime groups, spreading.

A survey of the American Chamber of Commerce in Mexico of more than 500 business, which leaders revealed that 67% felt less secure me do business in Mexico compared to the previous year.

The CANACINTRA national manufacturing industry Chamber recently estimated that in the year 2010 in the areas of violence had closed up to 10,000 small and medium-sized companies most concerned by the drugs.

Many of them had suffered extortion or threats of criminals, which called for the payment of a "fee" for their safety.

This is the case for a businesswoman in Central Mexico, preferred to remain anonymous.

She told the BBC that had six months ago, she and her husband, owners of a successful medium-sized enterprises, was approached by a group of armed men who identified themselves as members of la Familia drug gang.

She asked her, pay about $4000 (£ 2,465) each month - and to kill her and her family, if she are not threatened.

Fearing retribution from the criminal, when she alerted the authorities, they decided to pay.

"they appeared to collect the fee each month," visibly nervous says they, while walking to a park in Mexico City.

These episodes make many in Mexico fear like the drug war rages, other parts of the country could start lives the turmoil of that already faces Acapulco.

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Young people on the

18 April 2011 most recently updated on the 23: 01 GMT by Nastaran Tavakkoli far and James Melik reporter, BBC World Service Chinese entrepreneurs Xiaoche Miao own dessert shop open, when she was only 21 young people are to create jobs for themselves that would otherwise be unavailable be to you during the economic downturn.

One of the most important issues in the recent unrest in the Middle East and North Africa, was lack of prospects for young people where a quarter of the youth of the region are unemployed.

In addition, young people around the world by the global economic crisis were worst affected.

2010 Appeared the ILO figures estimate that 13% of those under 24 so far were the highest number of work - around the world.

Inspirations

The Global Entrepreneurship Monitor estimates that 120 million people around the world in the age between 18 and 34, in the round from their own businesses.

And another 300 million already running their own ventures.

Jared was Toole, 25-year-old founder of the Under30CEO - a network of young entrepreneurs in the United States - witnessed how young Americans corporate jobs to view and the traditional career path during the economic downturn.

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there to marry pressure on young women and have children, but they are also keen on success at work and financial independence "

young Arab women entrepreneurs end quote Samia El Solh" many young people, I work with, have seen that even the corporate world insecure istund some of the largest banks just fall apart, "he says."

", The view has on one runs her own business seem less risky and more attractive made."

In addition, they have inspired by the successes of other young entrepreneurs, such as such as the founders of Google and Facebook, and there is an increasing desire for young people to follow their passions.

"The increased interest in entrepreneurship is also a lifestyle issue," says Mr was Toole.

"they want to work hard, do they love what." "Away from the regular nine to five is a common wish that the we to listen."

Emancipation

Can this view is shared in other parts of the world and want to feel fulfilled special relevance to young women in their work and family life.

"There is pressure on young women to marry and have children," says Lebanese businessman, who runs the young Arab women entrepreneurs network and the push magazine for young women in Middle Eastern business is Samia El Solh.

"But they are also keen on success at work and financial independence," she says.

Since that can be difficult to reconcile the long inflexible hours within the regular structure of the job, is only an incentive for such women.

"The new generation is more skilled, they are aware of their options and they want more from life" has it.

"There are also women who are very creative, and therefore they are always feel that they want much to give and they produce something entrepreneurs."

Identity

Chinese youth is according to Kevin Lee, the youth-focused their traditional notions of success rewrite consulting China Youthology.

Despite China's strong economic performance difficulties have half of the new graduates job search within the first year, although this is not the biggest driver for their interest in entrepreneurship.

While related to tech startups with ambitions graduates establish the worldwide success of the country's many technology, also an increase in there of the smaller structures, such cafes, craft enterprises and small retail businesses.

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my dream is to show young people that you can values and do something socially beneficial - and make money "

end quote Linnea Passaler of Italian Entreprenuer" their motivations really come from their ideas of, what they want their lives be. It has a reform of their definition of success, "Mr Lee says."

"Chinese people as defined money or status, but we see in the post - 80's generations, which is this with by good relations with family and friends, and time for your own interests are historical, success."

China's youth are also place more emphasis on the study of their identities and regular jobs allow them don't have the time to do so.

Now these smaller companies as a vehicle are used where.

"they feel that their business is an extension of their personal space and their personal identity," Mr LEE said.

He believes, that this impact search also China's economy inside it is turning slowly from the factory of the world to his craft room.

"These smaller stores build infrastructure for more cottage industries, go back to craftsmanship and a different philosophy of what products can be."

Passion

While many young entrepreneurs by the view on doing what they love are motivated to use some of their companies as vehicles for social progress.

Italian oral surgeon and entrepreneur Linnea Passaler use their site to allow patzienti.org to patients to medical services.

While she is passionate about medicine and technology, also hoping to Italy's youth inspired.

"We are the social crisis in Italy, a moment", she says. "I want to show young Italians, that it is possible to have an idea and make it happen that you can do it in Italy without connections."

With Ms Passaler says more than a quarter of the frame-24 s unemployed in Italy, that young people feel the status quo works against them and that something is done a fight can be.

"This year 150th anniversary of Italy's reunification marked," continues Ms Passaler.

"It is a very important moment for our national values." My dream is to show young people that they can values and do something socially beneficial - and make money.

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Interlocking BRICS

14 April 2011, last updated at 07: 22 GMT by Saira Syed business reporter, BBC News, correspondent in China, write a review Singapore BBC Russia, India and Brazil the condition of their EconomiesChina plays host on Thursday on the third Summit of the BRIC countries, as it and other emerging economies increasingly global growth drive.

The leaders of Brazil, Russia, India and China meeting on Hainan Iceland, together with potential new Member, South Africa.

The term BRIC 2001 economist Jim O'Neill was coined by Goldman Sachs to group the four fast-growing economies.

In the last few months has their economic power from their growing political influence associated with was.

The four are part of the G20 Summit, a grouping of the world's major economies.

Had a rest quickly by the global financial crisis 2008, prove they were not as vulnerable to a downturn in the United States and Europe the BRIC countries.

With the developed world not looking to businesses to contact these countries to each other, and smaller emerging markets.

Brazil's commodities has traditionally exported minerals in the United States and Europe, but Chinese demand is the equation for Brazil's agriculture change.

The soy industry has shown particularly rapid growth to be meet the demand of the Chinese population.

This week approved start some Brazilian pork producers to export to the country for the first time China.

"You can see the shift instead of the reorientation of Brazilian agriculture towards China,", said Benjamin Selwyn of the Department of international relations and development studies at the University of Sussex.

China is also hungry for Brazil's other commodities, such as such as iron ore for the production of steel used in their great building boom.

Last year China the United States was Brazil's largest trading partner with more than $56bn in the trade.

In addition, were Brazil has also a market in China for some of his were found.

This week Brazilian President Dilma Rouseff a business in China signed for Embraer, the third largest manufacturer of commercial aircraft of the world travel market to sell aircraft redeem China Airlines, on the Mainland of rapidly expanding air.

Oil in Siberia has helped to make Russia of the world's largest manufacturers of raw materials

While China may be the world's largest consumers, Russia is the world's largest manufacturer of many raw materials.

Russia has always been - and is - a large natural resource exporter. However, where there to exports has changed dramatically in the last 10 years.

Trade with Asia increased at the expense of the business with the United States and former Soviet Union countries.

Developing Asia's economic growth and the push within Russia trade relations outside its traditional partners in Europe, have now China of Russia's largest trading partner, followed by Germany made.

"China is Russia's economic future," said Roland Nash, Verno investment research in Moscow.

"Both require each other to economic growth." "China sets the price for many of the world's natural resources through demand and Russia supply."

India is a world leader as a supplier of services, virtually inventing the outsourcing industry.

Unlike Brazil and Russia, who built their economies for the raw materials exports, India has developed its people.

Together with services, the medical care industry has taken huge strides.

But it has no mass producers, such as the other BRIC countries, and therefore much of his were imported from China.

This means that although China is now biggest trading partner of India, India a large trade deficit with the country.

"There is an asymmetry in their relationship," said Taimur Baig, of Deutsche Bank.

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China has been very pragmatic in far-reaching out down the line, to Africa and Latin America. "

End quote Taimur Baig Deutsche Bank, Singapore / China invented to itself and is now a mass manufacturer of high-tech products, including semiconductors and solar panels."

It is also a manufacturer of low-cost, high-value industries such as clothing and textiles.

"Its about maintaining competitiveness in the global economy," said Damian Tobin, of the school of Oriental and African Studies at the University of London.

"Low-cost production is driven by the labour component, intensively, begins to rise and then a lot of companies for the next cheapest alternatives will look like Viet Nam," he added.

Maintain the growth in the manufacturing sector, China has enabled more high-tech products increasingly in the direction.

Last year, China has successfully won orders for high speed rail around the world, after it has been a world leader in the industry and now is home to the world's fastest train.

Just in this week, Brazil said Chinese companies to bid for a planned high-speed railway line would allow.

The four BRIC States are in their hunger for raw material feed their rapid growth together.

China is the leader in the search for resources around the globe but has was followed by Brazil, Russia and India

"China very pragmatic in down the line, to Africa and Latin America, deliveries of raw materials and at the same time the creation of markets for its own exports, secure to reach," said Taimur Baig, Chief Economist at Deutsche Bank in Singapore.

But it all wrong.

Brazil and India flooding concerns about China have their markets with cheap goods, sparking a debate on the value of the Yuan said.

Most analysts agree that these provide an acronym four countries does not mean that they will act as one on the global stage.

"I would not expect the Brazilians or the Chinese to say BRIC means a new configuration of the world." "It is a long process see what gains can be made from cooperation with the G20 and other countries", said Mr Selwyn.

Although the BRIC countries dependent on developed economies are in decline, they have to work on an international stage with the major industrialized nations.

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Malay Algarve

Last updated 14 April 2011 to 23:47 am by Paul Henley BBC News, Albufeira, Portugal the Algarve does well from tourism - but poverty spreads elsewhere in Portugal Antonio speaks four languages fluently and used to as a Baker and pizza chef in the United States work.

He is in an early morning queue in the resort of Albufeira in the Algarve coast trying now for Portuguese State to register help.

He is fast losing hope to work again.

He says "How I social security people say, I'm looking for any kind of work, as long as it is legal,".

"The situation is really bad here." "I see so many unemployed people."

It is estimated that about 50% of the people he sees have no jobs.

"And there is no real work - everything else such as cleaning a House for a day." "But that was it - only in the short term".

Struggles for funds

Asked what he thinks when he sees wealthy tourists enjoy the beaches and restaurants just a few blocks away, Antonio laughs and says, he thinks, they are happy. Proof that things must better be elsewhere in Europe.

The Portuguese used are worse than their EU citizens.

But most think she had left behind the levels of poverty that make unwelcome return.

Antonio is one of the many currently on job search

The country was officially declared bankruptcy and announced an international Bail-Out of its economy.

The Albufeira branch of the Santa Casa da Misericordia is charitable organization almost completely depending on private donations to carry out their work, looking after the least lucky members of the local community.

It runs residential care for people with learning disabilities, abandoned children, people with physical disabilities and the elderly.

His soup kitchen and daily food deliveries have been never more.

And increasingly fights it with money from donors who are affected by the recession.

Baking school and Cafe run by a staff with special closure have already faced.

The most basic services soon become the victims of the financial crisis, organizers say.

Poverty trap

Paula Faria runs accounts of the charitable organization. "Whatever our income, not whats there now enough for half of the debt,", she says.

The priority is now to pay wages and buy food. It is not enough to meet expenses, repair or replace a car, she adds.

It owes the butcher 60,000 euro ($86,500; £ 53,000) and see how she longer can get away with loans for much.

Even those regular employment in the region have can fall into the poverty trap.

Daisy Sampson, journalist for the Algarve resident, who lives in Carvoeiro, has observed the changes since the recession hit.

"If you come to a restaurant or a bar as a tourist you see that the people you are smart."They speak several languages and you will be smiling and happy, because they make some money, she says.

But visit not living in the places, the tourists. It lives in the Interior with their extended families, where it is cheaper, it adds.

Often, they need to support children, mothers and fathers as the primary. And it has become more difficult lives for these primary workers.

Mean tax increases they must work harder to feed her family, she says.

"Someone to five euros an hour is almost two euros bread for a loaf much." "Wages have relied never high here and people on the visitors fully."

Foreigners in the Sun on the beach at Albufeira are largely oblivious to their hosts economic problems. Many have come here to try, forget their own.

"It definitely feel it is a crisis," say one Italian pairs.

A Welsh family mentioned that something about problems had said their tour guides when they boarded the bus at the airport.

"But we can see no changes," they say.

"I'm sure they have a recession, but aren't we all?"

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What is a rating agency?

A high score from a credit rating agency means cheaper borrowing - a low mark carries a heavy price AAA, B3, CA, CCC... they look like some kind of hyper-active school report.

They are, indeed, a marking system, and one that is designed to inform interested parties.

The letter of below are given to large-scale borrowers, whether companies or governments, and tell the buyers of this debt how likely they are to be able to get it back.

The score card of so affects the amount that should be charged by way of return on that borrowing.

These letters have been all over the coverage of the financial impact of the crisis besetting the heterogeneous.

A change to the score means a change to the amount a borrower must pay its debt-holders, something that can make it more expensive to borrow as investors demand a higher rate of return for taking on more risky debt.

But while the borrowers in the news - the governments of Greece, Ireland, Portugal, and now even the mighty US - are household names, the ones that have such to impact on their fortunes are not.

Continue reading the main story private-sector firms that assigns credit ratings for issuers of debtA credit rating takes into account the debt issuer's ability to pay back its loan that in turn affects the interest rate applied to the security (eg a bond) being issuedA credit downgrade can make it more expensive for a government to borrow moneyThey are credit-rating agencies, which exist to assess the credit worthiness of bond issuers - companies or, as in this case, countries who borrow money by issuing IOUs known as bonds.

But who are they? We need them and how do they work out whether to give the top-of-the-class AAA or a lower grade, such as CCC, which - sticking with the schools analogy - means the issuer is probably planning on bunking off?

Poor and Moody

Standard & poor's (S & P), as the oldest, comes first. It was begun in 1860 by Henry poor, who wrote a history of the finances of railroads and canals in the United States as a guide for investors.

The 'Standard' part came into being in 1906, when the standard Statistics Bureau which set up to examine finances of non-railroad companies.

The two businesses joined forces in the 1940s.

Moody's was started in 1909 by John Moody, who published an analysis of the tangled and uncertain world of railway finances, grading the value of its stocks and bonds.

These are now mighty concerns - Moody's operating income what $688 m in 2010 and standard & poor's made $762 m.

They each have 40% apiece of the business of rating of major companies and countries.

Fitch, with another eponymous founder, John Fitch, which set up in 1913 and is a smaller version of the other two.

There are hosts of other ratings agencies, whose names rarely appear break-even within the darker corners of the financial pages - so why are these three businesses the ones everyone watches?

Track record

Read part of the answer with the Securities and Exchange Commission (SEC), the US financial watchdog.

In 1975, it acknowledged these three as Nationally recognized statistical rating organizations (NRSRO).

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the reasons for ratings adjustments vary, and may be broadly related to overall shifts in the economy or business environment - or more narrowly focused on circumstances affecting a specific industry, entity, or individual debt issue"

end quote standard & poor of an endorsement from an NRSRO makes life quicker and easier for countries and financial institutions wishing to issue bonds - it basically tells investors a firm has a track record and how likely it is to be able to pay back the money.

Further impetus for NRSROs comes from the fact that certain regulated investment funds are required by the SEC to hold only those bonds that have a very high rating from accredited agencies.

An insurance company's strength is so judged by the ratings applied to the investment reserves it holds.

A downgrade of at issuers' rating pushes down the value of a bond and raises its interest rate.

It can mean regulated funds must now sell these bonds.

But this can cause a vicious cycle.

A big sell-off adds in market forces - more best-sellers than buyers – reducing the price further. That means a yet higher interest rate must be paid - and that puts an even bigger strain on the borrower.

Although the SEC has 10 NRSROs on its approved list, including a Canadian agency and two Japanese ones, the big three - standard & poor's, Moody's and Fitch - remain the industry standard-bearers.

This is partly because they make their ratings available freely to investors – making their money from charging the organisations who want their bonds rated.

Heavy criticism

So much for their size. What of their actual methods?

Standard & poor of said it based its judgments on a range of financial and business attributes that might influence the repayment, some of which may depend on the issuer of the bond (ie the borrower).

List in a statement, S & P gave a long of indicators it may use, including "economic, regulatory and geopolitical influences, management and corporate governance attributes, and competitive position".

That seems to cover everything. But since the credit crisis that started in 2007, these agencies have come in for heavy criticism - and even hostility.

Continue reading the main story rating agencies use different systems involving a long list of lettersA top mark is AAA or AAaDown to BBB or Baa3 is of so safeBB or BA1 down to C is speculative - or "junk" other less sequential numbers are applied to the worst kind of bondAfter all, stacks of mortgage-backed securities - the investments that were backed by mortgages that were either never going to be paid back or were even fraudulent - were given the very best grade by the three supposed experts in rating the likelihood of the money being paid back.

Similar dramatic swings have been taking place in the ratings applied to government - backed - rather than private property-supported debt. One day a country's bond gradient is a safe top rating and the next given a mark that suggests investors' money is not safe.

Many observers believe that if the rating on the UK's government bonds - or gilts - what downgraded by just one notch from AAA to AA it would put up the cost of official borrowing by around half of one per cent.

That would mean a big rise in the annual interest bill which has to be met by taxpayers.

When asked why it changes ratings, S & P responded: "the reasons for ratings adjustments vary, and may be broadly related to overall shifts in the economy or business environment - or more narrowly focused on circumstances affecting a specific industry, entity, or individual debt issue."

It indeed appears a dark art - but one whose influence has a more measurable effect.

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Entrepreneurs to create new jobs 40 %

19 April 2011 last updated at 7:37 PM David Cameron is look, to entrepreneurs who help rebuild Britain's economic growth, only 40% of new jobs - a much smaller number of companies than expected create 1% of the start-up companies had - a World Economic Forum (WEF) study found has.

WEF said that Governments should examine them on the search for growth through entrepreneurship successfully made.

It said that they should do this instead "replicate Silicon Valley".

Would-be entrepreneurs last month Prime Minister David Cameron said "now is the time", to start their business.

Mr Cameron has a schema, called "Start Up Britain", in the value of around £ 1,500 areas as training and Internet advertising company people set it to support.

The growth engine seeks the coalition Government to the private sector balance of cut in public sector jobs provide.

Other Governments, see also start up companies as a key to the economic expansion.

Continue reading the main plot of

in the dark moments, I never thought that we go. "Not even a second"

end quote Sir Martin Sorrell WPP the WEF Entrepreneurship_Report, in collaboration with Stanford University and global enterprise, said: "To avoid the collapse of the global financial and economic systems, Governments around the world are now concentrated on a basis for future growth."

It said its report was insight in how entrepreneurship, with "the ultimate aim of improving economic growth, prosperity and quality of life" to successfully promote.

The WEF study highlighted eight different important growth strategies for early-stage companies.

It said a key finding was that the similarities in early-stage companies around the globe are far greater than their differences.

"Dark moments"

Some operators reported "dark moments" when creating their companies to lose such an important customer or media errors the failure of a promising research.

Sir Martin Sorrell, Chief Executive of advertising giant WPP, was called the secret of getting through this self-confidence: "in the dark moments I never thought that we go." "Not for one second."

WEF was also generally a successful company grow for two years and then in the next, what it "a growth path snakes and ladders" called would shrink.

The successful strategies that it belongs to "Teaching to take years for a more powerful engine for future growth down from the" advocates for the overcoming of it.

It also says that strong management systems of great importance is. WEF says that no systematic management systems adopt high-growth occurs is calls it "a self-inflicted wound".

The report saw 380,000 companies in 10 countries.

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In pictures

20 April 2011, last updated at 03: 49 GMT

Violence spreads over parts of Northern Nigeria

Images from around the world on April 18.

FOM the traditional, the little quirky

Images from around the world: 9-15 April

Photo from in the whole world on April 14.

An exhibition of the work of photographers

Modern masters on display before the auction

A selection of photos on the subject is missing

Photos from in the whole world on April 13.

Russian celebrations of the 50th anniversary

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