The Great Depression was the biggest crisis ever experienced by the world economy. It hit almost every country. The highly developed economies of Western Europe and the United States: the less developed ones like Canada and, Australia, Japan and Argentina: and the underdeveloped countries of Latin America, Asia and Africa, just as soon as they became involved in the world market.

What is Economic Recession?
In economics, the term recession is generally used to describe a situation in which a country's GDP, or gross domestic product, sustains a negative growth factor for at least 2 consecutive quarters.  It is generally said so because recession can be defined differently by different economists.  Just as there is an agency to define the measure of inflation; the official agency in charge of declaring that the economy is in a state of recession is the National Bureau of Economic Research (NBER).  NBER's definition of recession is a bit vaguer than the standard one that was described above. They define recession as a "significant decline in economic activity lasting more than a few months".  For this reason, the official designation of recession may not come until after we are in a recession for six months or even longer.

Some economists also suggest that a recession occurs when the natural growth rate in GDP is less than the average of 2%.

Typically, a normal economic recession lasts for approximately 1 year.

Global recessions
There is no commonly accepted definition of a global recession, International Monetary Fund (IMF) regards periods when global growth is less than 3% to be global recessions. The IMF estimates that global recessions seem to occur over a cycle lasting between 8 and 10 years. During what the IMF terms the past three global recessions of the last three decades, global per capita output growth was zero or negative.

Economists at the International Monetary Fund (IMF) state that a global recession would take a slowdown in global growth to three percent or less. By this measure, three periods since 1985 qualify: 1990-1993, 1998 and 2001-2002.

Causes of Recession
This is another staunchly debated topic; but the general consensus is that a recession is primarily caused by the actions taken to control the money supply in the economy.  The Federal Reserve is responsible for maintaining an ideal balance between money supply, interest rates, and inflation.  When the Fed loses balance in this equation, the economy can spiral out of control, forcing it to correct itself.  This is precisely what we have seen in 2007, where the Feds monetary policy of injecting tremendous amounts of money supply into the money market has kept interest rates lower while inflation continued to rise.  This coupled with relaxed policies in lending practices made it easy to borrow money; the economic activity became unsustainable resulting in the economy coming to a near halt.   

It is also said that recession can be caused by factors that stunt short term growth in the economy, such as spiking oil prices or war.  However, these are mostly short term in nature and tend to correct themselves in a quicker manner than the full blown recessions that have occurred in the past.

What is this subprime effect?
If you are the kind who follows the business press and news channels very closely, then chances are that, in the last one week, you would have heard stock market experts blaming US subprime defaults for the fall in the Indian markets.

Welcome to the world of globalisation, where when America sneezes, India catches cold. But what on earth is this subprime crisis?

It all starts with an entrepreneur who finds a demand-supply gap between people who want to buy a house and people who have the money to lend.

These people who want to buy a house do not have a good credit rating, i.e., their probability of defaulting on the loan repayment is very high.

So, if anybody wants to lend money to them, it will have to be at a significantly higher interest rate (sub-prime rates is the jargon for it). This is because the entrepreneur lending the money is taking a higher risk, and hence, needs to be compensated through higher returns.

The entrepreneur takes a loan from a bank/ investment bank at low interest rate (as he has a good credit rating, he can raise money at competitive rates) and lends out that money to many people at a higher interest rate.

This ensures that he gets a higher return than what he pays on the loan. At the same time, by giving out loans to many people, he has ensured that a few defaults on repayments do not have a huge impact.  

How to Survive a Recession
These are some of the effects of recessions and how to deal with recession.

• More difficult To Borrow. In a recession banks are less willing to lend. This is particularly a problem at the moment, because of the concurrent credit crises which is reducing the availability of loans.
• Solution: Avoid taking on any unnecessary debts. The debts you have try to reduce and consolidate into a lower interest rates bearing account.
• On the positive side, in a recession, interest rates are likely to be lower, meaning lower interest payments for mortgage holders.
• Unemployment. This is the main concern over a recession. If output does fall, there is likely to be a fall in demand for labour. This problem is often concentrated in those sectors most affected by the recession. For example, in the current climate, jobs related to finance and the housing market are more at risk than say the manufacturing sector.
• Solution: If you fear unemployment, start thinking what you might do as an alternative. Is it viable to consider working on a second income, such as online business.
• Don't panic. Firstly, the unemployment may not occur; there is nothing to be gained by worrying over what we have no control other.
• If are made unemployed, the best solution is to be flexible in looking for work. Consider new avenues and skills that you could learn. Also recessions will be short lived; a period of temporary unemployment does not have to become permanent.
• Falling profitability of Business. If you are a small business owner the effects of a recession can be keenly felt. Lower profits could even threaten the survival of the business.
• Solution: Look for ways to minimize costs without compromising the business. There are always ways to cut costs and increase inefficiency. Some economists even go so far as to say that recessions are a good thing because they force the economy to become more efficient.
• If your business is particularly affected by the downturn, look to see whether you can diversify to reflect the changing economic environment. For example, if you specialise in selling luxury goods with a high margin try including some new product lines which appeal to people's desire for frugality.
• A fall in profits is likely to be cyclical. Therefore try to plan a financial plan to borrow at a low cost for the difficult years.
• Falling Stock Market
• In a recession, stock markets are likely to fall as lower profits reduce dividend payments. Try to diversify your investment portfolio. In a recession, commodities such as gold often do well. Even in a recession, there can be good investment opportunities.
• Also bear in mind that stock markets can often be forward looking. For example, stock markets have fallen sharply since the start of the year in anticipation of a recession. When a recession comes, stock markets often don't fall any more.
• Consumer Confidence

Often the worst aspect of a recession is the affect on consumer confidence and people's fear about the future. Bear in mind, the media often exaggerate the extent of a downturn in the economy. The media like to highlight sensationalist stories. However, it is often not as bad as it is made out to be. Keep a calm and detached attitude and just make the best of the current situation.

• Any Benefits of a recession?
• Lower interest rates. Good for borrowers
• Lower inflation rates. Good for savers
• Sometimes difficult times can force us to reevaluate our financial situation. It can make us look for new business avenues and new ways to cut costs and spending. Although it may be temporarily unpleasant, the important thing is not to panic but try to make the best of any situation we find ourselves in.

Source :
http://www.mysmp.com/bonds/economic-recession.html
http://www.dnaindia.com/report.asp?newsid=1114464
http://www.economicshelp.org/2008/03/how-to-survive-recession.html

The flavors of sweet honeydew, tart lime, and juicy red grapes combine in this smooth summer drink.

A refreshing change of pace from sodas and iced tea! Citrus fruits are rich in vitamin C and other healthful nutrients such as glutathione.

Watermelon is a totally good-for-you food: The sweet, juicy red melon is high in cancer-fighting lycopene and vitamins. IT has zero fat.

Watermelon Mint Smoothie makes a great breakfast.

Serves 1 - 2

• Whiz all ingredients except walnuts and flax seeds in a blender.
• Pour into glass and top with walnuts or flax seeds.
• Whip up a batch in the blender for a quick taste treat that’s healthy, too. Perfect for breakfast (as after-workout snack, or for energy boost).

Source : http://www.audi.in/audi/sea/in/new_cars/a8/12_cylinder_A8/exterior_view.html

Car Security Tips

• Make sure your car is locked and your windows closed.
  
  This sounds ridiculously obvious but make sure you secure your car carefully wherever you have parked. Research shows loads of people leave their doors unlocked and/or their windows open at large proportion. Make sure your windows are wound all the way up. Even if you leave a small gap a thief can easily force it down to either access the door lock or break the window.
  
• Check all your entry points are secure – are all the doors locked, the trunk locked and the sunroof locked(if any) If not a thief will be quick to take advantage of the opportunity.
• Keep your keys safe – even when you are at home.  Don’t leave them in the car, in your handbag, or sitting on an entrance table or bench in the house. Secure them in a drawer or somewhere safe that is out of sight.
  
  Today with factory and after market alarms getting smarter it is becoming harder for a thief to quickly and easily hotwire your car. That has led to a surge in home break-ins purely so thieves can steal the car keys. Then they simply come back later and drive off with the car.
  

• So, while you’re at home keep your keys safe.

Source :
http://www.arthritistoday.org/daily-living/do-it-easier/great-tips/car-tips.php
http://www.articlesbase.com/automotive-articles/car-security-tips-795547.html

Cleaning Tips - Kitchen

• For more effective dishwashing, add a few tablespoons of vinegar along with the dishwashing detergent when washing dishes. The vinegar cuts the grease and leaves dishes sparkling.
• To clean up spills in your oven, sprinkle the spills immediately with salt. When the oven has cooled, brush away the burnt-on food with a damp sponge.
• To disinfect smelly sponges, wash sponge thoroughly, then microwave it while it is wet, for a short period. When you see steam from the sponge, the bacteria in the sponge will be dead. Remove carefully, it will be hot! Wash the sponge thoroughly before use. **Make sure the sponge has no metal components! **
• To remove hard-water and lime build-up in a teapot or kettle, pour in two cups of vinegar and bring to a boil. Let simmer for about 10 minutes, then rinse well.
• To remove mineral deposits in a tea pot or burnt spots on a coffee pot, put some ice cubes, cut-up lemon, and salt with a tad water and swish around and let sit overnight.
• To whiten an old stained sink, pour a half cup of salt in it and then scrub it with a lemon. Let it stand for a few minutes and rinse.
• To remove skid marks on linoleum rub the spot with toothpaste before washing the floor.
• To keep your plastic containers from getting stained from tomato based foods, rub the inside with vegetable oil before placing the food in the container.
• Kitchen surfaces: Mix in spray bottle, 1 part ammonia to 3 parts water. Or try diluted bleach solution in a spray bottle. It will remove stains and disinfect.
• Removing kitchen and food odors: Soak pure vanilla on a cotton ball and place in a saucer. Put the saucer in the car or refrigerator to remove odors. Keep cotton ball out of reach of children as it contains some alcohol.
• Odor producing mold and bacteria in garbage cans: sprinkle 1/2 cup Borax in the bottom of the garbage can.
• Cleaning coffee maker: Pour straight vinegar into it as if you are making the coffee, no filter is need. Turn coffee maker on as if you were making a pot of coffee. Repeat this with a new batch of vinegar until it runs clear of calcium deposits.

Fixing bad breath depends on what's causing it. In 80 to 90 percent of cases, it's due to something in the mouth. Most often, it's nothing more serious than a dirty mouth. Plaque, the nearly invisible film of bacteria that's constantly forming in mouth, is often responsible for bad breath. Other dental culprits include cavities and gum disease.
Occasionally, bad breath is due to something in the lungs or gastrointestinal tract or to a systemic (body wide) infection. However, eating a garlicky meal is one of the most common causes. The strong odors of foods such as garlic, onions and alcohol are carried through the bloodstream and exhaled by the lungs. Another big loser, when it comes to bad breath is tobacco.

In addition, some health problems, such as sinus infections or diabetes (which may give the breath a chemical smell), can cause bad breath.

2. Clean Your Tongue
Clean your tongue. Bacteria left on your tongue can contribute to less-than-fresh breath. Be sure to brush your tongue after you brush your teeth.

3. Wet Your Whistle
A dry mouth can quickly cause bad breath. Saliva helps clean your mouth; it has a natural antibacterial action, and it washes away food particles. That awful morning breath is the result of reduced saliva flow at night.

4. Rinse
Rinse your mouth with plain water after eating. Swishing the water around may help to remove some of the food particles left in the mouth after a meal and prevent bad breath from setting in.

5. Munch on Parsley
Munching on parsley or spearmint won't cure bad breath, but the scent of the herb itself can help to cover up offending oral odor temporarily.

6. Eat to Smell Sweet
Foods that help fight plaque may also help fight bad breath. Opt for celery, carrots, peanuts or a bit of low-fat cheese if you want something to snack on.

While all of these tips will help your breath smell better, figuring out the cause of bad breath is the best way to lick it for the long term. 

Source: http://health.howstuffworks.com/6-tips-to-cure-bad-breath1.htm

Introduction:
India has embarked upon massive and unprecedented road construction & improvement programmes involving huge investments.

It has also to maintain a vast road network of over 33 lakh kilometers. The durability of the road surface depends largely on the type and quality of bitumen used and quality control exercised in the production, transportation, mixing, laying & compaction.

Traditionally, penetration grade bitumen has been used in bituminous mix. The pavement made by using penetration grade bitumen is known to exhibit rutting at higher temperatures, cracking at lower temperatures and raveling due to fatigue. Thus, the life of bituminous pavement varied from 3-4 years requiring frequent repairs and renewals. To achieve durable pavements, use of modified bitumen was introduced in late nineties. The cost of modified bitumen is about 10 to 20 per cent higher than the cost of bitumen, furthermore, the construction of pavement with modified bitumen requires higher level of care & quality control during the entire process right from production of modified bitumen to laying and compaction. The latest introduction is “Viscosity grade paving bitumen” which is designed to take care of pavement distress at lowest temperature (responsible for cracking) and at maximum service temperature (responsible for rutting). The BIS has issued IS 73:2006 specification for Viscosity grade paving bitumen which supersedes the earlier specification IS 73:1992 for Penetration grade paving bitumen. In view of the importance of bitumen in road construction and maintenance, it is necessary that appropriate grade of bitumen most suited for our environment are used and adequate quality control is exercised at each stage.

Bitumen Classifications, Specifications, Quality Assurance & Applications
Paving grade bitumen is categorized according to its absolute viscosity (degree of fluidity). The higher the grade, the stiffer the bitumen. In Viscosity grade, viscosity tests are conducted at 60 °C and 135 °C, which represent the temperature of road surface during summer (hot climate, similar to northern parts of India) and mixing temperature respectively. The penetration at 25 °C, which is annual average pavement temperature, is also retained.

As per IS 73:2006 specification, Bitumen is classified into following four types, based on Absolute viscosity:

BPCL- VG -10 BITUMEN
VG-10 is widely used in spraying applications such as surface dressing and paving in very cold climate in lieu of old 80/100 penetration grade. It is also used to manufacture bitumen emulsion and modified bitumen products.

BPCL- VG -20 BITUMEN
VG-20 can be used for paving in cold climatic & high altitude regions, for eg. Northern regions

BPCL- VG -30 BITUMEN
VG-30 is primarily used to construct extra heavy duty bitumen pavements that need to endure substantial traffic loads. It can be used in most part of India in lieu of old 60/70 penetration grade.

BPCL- VG -40 BITUMEN
VG-40 is used in highly stressed areas such as those in intersections, near toll booths and truck parking lots in lieu of old 30/40 penetration grade. Due to its higher viscosity, stiffer bitumen mixes can be produced to improve resistance to shoving and other problems associated with higher temperature and heavy traffic loads.

All the above products manufactured from our Mumbai & Kochi Refineries comply with the requirements of IS 73:2006 Specification for “Viscosity grade paving bitumen”.

BPCL is recognized for its proven track record of consistently delivering high quality products. Our products perform under the most diverse and demanding road conditions in India. This is attributable to a combination of ‘state of the art’ manufacturing technology, comprehensive quality assurance programs and operational efficiency - all supported by our highly skilled and experienced staff. We have excellent research centre which focuses on R&D, as well as providing technical expertise. Our team of technical specialists is dedicated to ensure our products are tested thoroughly at every stage-from the selection of crude oil at the start of the production processes, right through delivery.

Health and Safety
To ensure hot bitumen is used in safe and efficient manner the following safety precautions shall be followed.

• Wear suitable personal protective equipment (PPE) at all times: Full skin protection is required to avoid accidental burns when transferring or handling hot bitumen
• Always prevent contact between water and hot bitumen by checking the contents pf the previous load before loading bituminous products into tanker and by following procedures to avoid violent boil-over of tanks
• Minimize bitumen fumes by heating bitumen and bituminous mixes to the recommended temperatures.
• Minimize the use of diesel when cleaning equipment as this contributes to the bitumen fume.

For further details, please contact us:
Bharat Petroleum Corporation Ltd
Industrial & Commercial Dept.
Bharat Bhavan, 4 & 6, Currimbhoy Road,
Ballard Estate, Mumbai – 400 001
Tel: 022 22714000, 22713000

Visit us at: http://www.bharatpetroleum.com/