DAILY GLOBAL BUSINESS POINT

The paypal is the primary internet based banking transaction network for nearly quarter million Indians, who do small time services for various clients spread across US and Europe. For example, there are many software engineers in India who do small time projects for various clients through proven internet networks, and take payment in dollars through their paypal account.
Similarly there are lot of outsourcing workers in India, and also lot of bloggers in India, who take small payments ranging from 2 dollars to 50 dollars per task, from clients in US and Europe. And paypal checks out the identity of each of these people through credit card verification, and then only it allows transfer of funds to their bank accounts in India.
But all of a sudden Paypal has stopped all Indian transactions from January 28th without any notice, and worse still, it does not specify the real reason behind the issue. It is also not clearly specifying the time line for restoring the service.

The crude oil traders were in for a crude shock today, as the prices crashed by over 4 dollars in a single session. At the middle of today’s trading, the crude oil prices were seen trading around the 72.9 dollars, which is a steep four dollars drop.
The European region is showing more signs of crack, and over the next few days people are expecting Greece to collapse. Also the UK central bank has decided not to continue with the Quantitative easing measures, as there are inflationary pressures.
All these are not auguring well for the crude oil market, and also many other industrial commodities. The rift between China and US is also growing, which is adding to the global uncertainty.

The Foreign institutional investors have been the driving force in pushing up the stock markets across the emerging markets. China has seen a 60% rise from the bottom, while India has seen a 90% rise from the bottom. Even Russia and Brazil have seen a sharp recovery in the year 2009.
And all these have been due to the pumping in of cheap dollar funds by Foreign funds into these markets for short term speculative gains. Now the US government is tightening the fund supplies and also the speculative business of hedge funds and mutual funds. That has forced most of the fund majors to pull out slowly and steadily out of the emerging markets.
So expect another 10% to 20% correction in all these markets in the next one of two months as no new fund flow may be there.

The sun Microsystems is a hardware company which was taken over by the software major Oracle. The two companies have established a presence in developing countries. The sun Microsystems was bought for $7.4 billion by Oracle.

The oracle and sun Microsystems employ as many as 26,000 people together. In India oracle has 25,000 employees and sun Microsystems has 1,200 employees.The oracle database basis is Sun Solaris, largest oracle business operating system.

The Solaris operating system is unique with high end range of servers, storages and SPARC processors. The Oracle company plan to engineer and give open and integrated system. The oracle and sun transaction has been accepted by the European unions antitrust commission. The EU approval further said that the deal between the two companies would not restrict the competition in database market.

The Google company has been dominating the internet arena for the last decade. Even during the last two years when most of the US biggies reported bad results, Google reported spectacular results, and also upped the guidance for the current year.

The company is likely to face better prospects from the mobile arena as more and more people are expected to shift over to using mobile phones and other handy gadgets for their routine activities. Google is also all set to grab a good chunk of the internet phone market with the launch of the iPhone few weeks back.
With the global economy set for a decent recovery in the year 2010, we can only expect Google to report record results once again.