Archive for January 9th, 2018

Why are women accused of witchcraft? Study in rural China gives clues…

January 9, 2018

Ruth Mace, Professor of Anthropology at UCL research the topic:

From medieval witch hunts in Europe to contemporary “witch doctors” in Tanzania, belief in witchcraft has existed across human societies throughout history. Anthropologists have long been fascinated by the phenomenon, but have struggled to study it with quantitative methods – our understanding of how and why it arises is therefore poor.

But a study we conducted of one Chinese region provided an opportunity to test the most common hypothesis – that witchcraft accusations act as punishment for those who do not cooperate with local norms. According to this theory, witch tags mark supposedly untrustworthy individuals and encourage others to conform out of fear of being labelled. However, some empirical studies have shown that witch labelling instead undermines trust and social cohesion in a society.



Swiss National Bank from high losses to high profits.

January 9, 2018

In 2015, the central bank incurred a loss of CHF 23.3 billion followed by a profit of 24.5 billion in 2016.

In 2017, it expects a profit of CHF 54 billion, more than double of last year.

For all you know, amidst all the gloom and doom central banks continue to run amazing profits. Fortune 500 list showed Apple topping the highest profits list with a profit of USD 45.7 billion in 2016. Federal Reserve in 2015 generated USD 100.27 billion of profits followed by USD 92.17 billion in 2016.

Should be similar for other central banks as well.

Perhaps the best business in town. The losses do not effect the entity and profits are coolly transferred to the respective share-owners which is government in most cases.

When a bank sponsors a beauty pageant: Case from Nigeria…

January 9, 2018

Interesting bit of story:

Heritage Bank Plc has said its support for the 2017 yearly beauty pageant is all about empowerment of women, as part of sustainable ways of banking.

The Head of Corporate Communications of Heritage Bank, Fela Ibidapo, also told journalists that the bank’s partnership with the organisers was also a revival of the tradition that the organisers were known for.

“Our involvement in this is not because of beauty per se. It’s primarily to empower ladies and women generally to always put in their best in whatever they do to make a living,” he said.

Ibidapo said that while the impact of the initiative might not be so visible in the short-term period, it would surely impact positively on their contributions to the nation-building process in the long run. 
The Chairman of Folio Media Group- the organizers, Fidelis Anosike, said the group would use the Miss Nigeria pageant to create a strong female platform.


A former Miss Nigeria (1979), Mrs. Helen Prest, observed that Miss Nigeria was a platform for empowering women, noting that before the advent of social media, Miss Nigeria was the social platform for young women to dream and make their dreams come to realities.
She said she was happy that the pageant was being revived by the new management of the Daily Times because it provides opportunities for young girls who are polished, good mannered, well- spoken and poised to attain national recognition by drawing attention to causes and empowerment for women.

Not sure how to react to such stories …

Riksbank kickstarts 350 year anniversary with new postal stamp..

January 9, 2018

This blog had pointed that the first central bank of the world -Riskbank- will complete 350 years in 2018.

The government/central bank kickstarted the anniversary. The Postal office has released commemoration stamps  to mark the event. Though it is ironical that a physical stamp is being to mark anniversary of a central bank which  could issue digital currencies. The governments historically have printed both stamps and banknotes in one of their units.


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