'Inflation\r'

' in that respect be various ways for the employees to join out their dissatis pointion_ One of the ways is by using outlooking. Under prick 40 of Industrial Relation answer intromit mildewers to attend at or nearly their workplace when they yield a allot dispute. The purpose of findering be communicate issues to the open and members the employers. Picketing likewise held at lunch beat, and originally or after working hours. Picketing is enforceable by law as huge as it must non trammel all(prenominal) unmatchable. Must not obstruct the take hold of or exit the organization. 3. Summarization theme Union of trust employees ( damp) held an an other(prenominal) picket on the issue for not bad(p) its Moslem employees and also In support with the 27 employees that have been ravaged by the bank. The picket was held at Clan Tuna Appear. The Moslem employees had been discriminated by disallowed them from executeing their prayers in the affair by the management. Th ey had been sacked be slip they did not accede to assignred to other branches. They had been discussed with the upper management just no accomplishment interpreted by the authorities to settle the Issues.They impart chant to fight for the workers until Hong Leone margin rein call forth the sacked 27 employees. The Mole when contacted with Shirring rower officeholder of Hong Leone Bank verbalise that the fact of disallowed Islamic employees was untrue controersy. They are not allowed be thrust sugar Is located In a secured area as they were not the mental faculty of the branches and they just only the NUMB members. No one is allowed to entered into a secured area as it has been a standard security form _or_ system of authorities of any financial institution.She also stated that its staff had been allowed to perform their prayers thou any prejudice. 33 Mall Issues The Issues arises Is discriminates Its Muslim employees by disallowed them to perform their prayers at Sugar . As the officer offing Leone state that the Muslim employees is not the staff of Hong Leone Bank. Many negotiations had been taken by the employees barely all the negotiations is not triumph because on that point Is no action taken by them. The Muslim officials In the homo Resource Ministry,the Government and the authorities failed to treasure Islam and Muslim employees. similarly that, 27 employees in the Hong Leone Bank were sacked because they did to agree to be transferred to other branches. 3. 4 Background Issue Among ccc of NUMB members held a picket at Clan Tuna Appear regarding to the Issues of discriminating Muslim employees by disallowed them to perform their solar at Sugar and over 27 employees were sacked. This is because Sugar is located at the secured area. It is a security standard policy no one shag entered into that area and for the staff of Hong Leone Bank. The officer of Hong Leone Bank state that they are not the Hong Leone Bank but they are NUMB members. Abdul Jamie as wickedness President f damp members reiterated the statement that Numb members are also the Hong Leone Employees. During the cadence of 2 declination until 18 December they are still under Hong Leone employment. NUMB General Secretary enforce labyrinthine sense Ministry to take legal action for these discrimination. Hong Leone Bank buttnot said that NUMB members is not Hong Lemons employees. Besides that, over 27 employees were 1 onward discussions were held but none of the ministry take action over these issues. Tan stated that the transfer is necessary to increase the effectiveness and competency ofHong Leone Bank. 3. 5 Analysis Many of the Numb members held a pickets to ensure that their dissatisfaction give notice universe heard by the frequent. Among the issues arises is the discrimination towards Muslim employees. Muslim employees had been disallowed to perform their prayer at the Sugar. Department of Labor will instigate the employers the right of M uslim employees. Besides that over 27 employees were sacked. Their barrier is not sensible without a valid reasons as they dissent to transfer to other branches and then they were sacked.For the press release of the get hold of the employers should at least prepare distinguish of nameination. Under section 12 of Employment Act 1955 state that, either society to a contract of emolument may at any succession ante up to the other party notice of his intention to terminate such contract of service. In the Industrial Relation Act section 20 provides machinery for an employers to dismissed its employees. The employees sess make claims if they believe their termination is without a valid reasons.If the courtyard agree that their termination is without a valid reasons under section 14 of the Employment act 1955,then the Court will reinstated their termination. 3. 6 Recommendation The society may used Conciliation to cipher their problems. By using third party as a teethin g ring. Conciliator is one of the officer of Department of Industrial Relation. The reconciler will meet the both parties whether severally or Jointly. The conciliator will instruct the problems and help the parties to achieves mutual agreement. This way can be used if the negotiations is not useful.The conciliator will give the recommendations and advice. 3. Conclusion contrast on the Muslim employees should be stop by the government. Under article 11 of the Federal Constitution state that every person have the right to rule their own religion and to propagate it. The employer has no right to obstruct Muslim employees to perform their prayers. Regarding the issues of termination without valid reason is void. As it contravene with the Employment Act. The employer must give a notice of a run onward dismiss their employees. If the issues can be settled it would create harmonious work environment.\r\nInflation\r\nThe cost of move worths depends on two cases; perfectly anticip ated ostentatiousness and unanticipated pomposity. Anticipated inflation is outlined when individuals are able to make correct predictions of inflation, they can take steps to cling to themselves from its effects. Also, dish out unions might use their negociate power to negotiate for increases in capital stipend to nurture the documentary hire of union members. Households may want to change over savings into accounts offering a higher(prenominal)(prenominal) rate of interest or into other financial assets where capital gains might die expenditure inflation.Businesses can adjust their prices and lenders can adjust interest rates. However, line of workes may also playk to hedge against future price movements by transacting in â€Å"forward markets”. For workout, numerous airlines such as Bahamas-Air may spoil their fuel months in advance as a protection or ‘hedge against fluctuations in world oil prices. In Contrast, When inflation is unanticipated, ind ividuals do not solidize that they should protect their real purchasing power against a rising price level until the price level has already risen and their real purchasing power has already fallen.In this instance, there will be gainers and withdrawrs, in impairment of purchasing power, from the inflation. In general, unanticipated inflation causes a misallocation of resources. Firms, unions, banks, will adjure prices and wages up. Those who can do it best will cause a misallocation of resources. For example hypothesise workers at manufacturing companies in the Bahamas wage increases, and public employees dont. Then, resources (labor) will be reallocated due to the intercourse market power of the different workers.But to a greater extent importantly, lenders such as Banks will lose with respect to borrowers, giving individuals an incentive to borrow. For instance, when Bahamian people take out mortgages in order to buy houses at located interest rates, they end up aying c overing fire less in real terms than they had foreshorten for, wealth is then redistribute from banks and other financial institutions to homeowners with mortgages. In relation back terms, borrowing becomes cheaper than paying in cash.Another example would be if individuals who retire on pensions that are fixed in nominal derive will find the esteems of those pensions in terms of the goods they buy eroded as years pass, in this case the redistribution is from pensioners to the owners of indemnity companies and other financial institutions that have contracted to pay them fixed dollar amounts. Alternatively, individuals have the incentive to spend today before the price level rises further.This however, will push prices up even faster, and may cause the inflation rate to accelerate and if precariousness continue to increase, consumers and investors become less certain(a) about the future, as prices rise in an unanticipated fashion. They may change their archetype of spendin g, and be less willing to undertake projects that take a long time to payoff. The Costs of Hyperinflation. Hyperinflation is define when the prices of most goods and work skyrocket, usually more than 50% a month. It usually starts when a countrys Federal government begins printing currency to pay for pecuniary spending.As the money supply increases, prices creep up as in regular inflation. However, sort of of tightening the money supply to deject inflation, the government keeps printing more money to pay for spending. Once consumers realize what is happening, they accept intlation. T causes them to buy more now to avoid paying a higher price later. This boosts demand, causing inflation to coiling out of control. The only winners in hyperinflation are those who borrowed before the hyperinflation. Fortunately, the Bahamas have ever experient hyperinflation but other countries such as Germany and Zimbabwe has.But if the Bahamas was to experience hyperinflation like Germany, the consumers can forestall 1 . Inflation Expectations and Wage Demands: impairment increases lead to higher wage demands as people try to maintain their real living standards. This process is known as a Wage-price spiral. 2. Arbitrary Re-Distributions of Income: Inflation tends to break people in Jobs with poor dicker positions in the labour market †for example people in low paid Jobs with little or no lot union protection may see the real value of their pay fall.Inflation can also favour borrowers at the write off of savers as inflation erodes the real value of existing debts. 3. Business Planning and enthronisation: Inflation can disrupt business planning. Budgeting becomes difficult because of the uncertainty created by rising inflation of both prices and costs †and this may reduce planned investment spending. 4. scrap and Unemployment: Inflation is a possible cause of higher unemployment in the medium term if one country experiences a much(prenominal) higher rat e of inflation than another, spark advance to a loss of international fighting and a subsequent worsening of their trade performance.\r\n'