A cheaper Chez Deenu !!!!!!!!!!!!

Commodity Trading on the International Market - 08.05.2009
A cheaper Chez Deenu

Now that the value of our rupee is appreciating – compared to the first week of November 2008 – we should see a reduction in the prices of goods in shops.

Chez Deenu on Quincy Street has announced on radio that it is selling goods at certain prices, which follows a similar move by the Seychelles Trading Company (STC).

Chez Deenu, therefore, becomes one of the shops publicising reduced prices of their goods to match the appreciation in the rupee-foreign currency exchange rate.

Moreover, Chez Deenu has a licence under the manager of Bas Trading to import goods into the country. For instance, it has imported a new brand of prepacked premium basmati rice at R16.25 for 1kg, while at STC loose-packed premium basmati rice costs R30 a kilo, the new price as from last month.

Consumers have not been told whether the difference in prices can be attributed to sourcing, quality or brand authenticity.

Chez Deenu is also selling a new brand of powdered milk, Every Day, at R75 for 600g. Other goods considered to be at a reasonable price there are frozen imported chicken at R48 a kilo, maize flour at R21.85 a kilo, a new brand of tomato paste at R4.85 a medium-sized sachet, and Pepsodent toothpaste at R11.50.

These are only a few examples. There are several other items going for an affordable price.

Besides, the atmosphere in the shop is always a pleasant one, with staff offering good customer service.

As customers, we should always pay great attention to prices. Importers now need three rupees less to buy a dollar, compared to six months ago, so the prices of goods should also come down.

EU unemployment hits 20 million

Unemployment across the 27 European Union member states reached 20 million in March.

And unemployment in the countries using the euro is at its highest level since 2005, according to the region’s official statistics agency.

In March an estimated 419,000 people lost their jobs across the 16 countries in the eurozone.

The Eurostat data agency says levels of unemployment now stand at 8.9% of the population who are eligible for work, up from 8.7% in February.

EU officials estimate 3.5 million jobs will be lost across the whole of the EU this year.

“8.9% is a big increase. I think we will see rates probably at 10% at the end of the year for the eurozone,” said Joerg Angele, an economist at the Bayerische Landesbank.

“In 2010, the rate will get much higher, perhaps 10%, 13% because the plunge in production is so massive, firms will fire a lot of people,” he said.

Unemployment across all 27 countries of the EU rose to 8.3% from 8.1% in February.

There are now 20 million people out of work in the region according to Eurostat’s latest figures, four million more than a year ago.

Levels of unemployment are highest among people under 25 years old. Nearly one in five are without a job across the whole of the EU.

More advertising of job vacancies in Seychelles

While the worldwide economic recession is causing loss of jobs all over the world, in Seychelles employers continue to recruit labour from overseas, as work vacancies outnumber people seeking employment.

There is no excuse really for Seychellois to be unemployed.
Just to analyse a recent example, in the Nation of April 27, Island Construction (PTY) Ltd advertised a total of 500 vacancies. This is, indeed, a large number of workers this company needed.

In a short communiqué from the human resources manager of the firm, he said he has so far received only around 50 applications.

It is unfortunate that our so-called unemployed men who are physically able are not making use of work opportunities available to them. There could be a shortage of skilled labour locally, lack of training or a negative attitude towards certain types of work.

This is not only the case in the construction industry but also affects the tourism sector.

Besides, privatisation of the employment office is now helping those who are looking for a job. The recent openings of three private employment agencies known as Job Plus, HEG (Henry Elizabeth Gerald – the names of the three shareholders of the agency) and SMS (Sylvia Maria Stravens) are a positive move towards liberalising employment services.

People who are unemployed, and others who keep finding excuses why they are not seeking work, can now get help from three private agencies to get them into a job.

Crude oil prices

As at 07/05/09

Nymex Crude Future 57.85 dollars per barrel
Dated Brent Spot 57.11 dollars per barrel