US consumer spending growth slows
Date: 29 March, 2009
URL: http://news.bbc.co.uk/1/hi/business/7968252.stm
I read this article in the BBC news website, since the US market is vital and plays a big role in the worlds market especially in times of desperation as now, it's quite interesting to read how the normal American reacts to this situation and this articles suggests that The Commerce Department said that consumer spending edged up 0.2%, compared with a 1% jump in January, February marked the second month to see an increase in spending, but followed six months of declines. We can look at it in different ways; either the American consumers are getting accustomed to the situation or they believe the worst of what we've seen in the economy is over, Because recent upbeat data on the housing market and factory orders has triggered hopes that the worst might be over. Analysts said the data could be a sign that the economy is on the mend, but questioned whether the spending could be sustained. "I would not say we have seen a bottom, the economy is probably not declining as quickly as it was," said David Sloan, an economist at 4Cast. Obviously no one can tell the future but since Consumer spending forms the backbone of the US economy, accounting for 70%. So seeing the American people active and willing to spend might be a good sign for the future.
Sunday, 29 March 2009
Sunday, 22 March 2009
Blog 4 (Saudi Economy)
Translation from Arabic to English:
Decrease in oil prices
Date: 22 March, 2009
URL: http://www.100400.com/
In this article which is in Arabic the comments and usage of language is very powerful, normally I don't read many financial news in Arabic since I live in London but this article caught my attention. It mainly discusses how the decrease in prices of oil has dramatically affected every aspect of the Saudi Arabian economy, since 90% of our revenue come from the production of oil in Saudi Arabia it is clear that this will have a big affect especially how low the price of oil is becoming as compared to before. This specific writer assumes that are economy is in big trouble in the future which surprises me, the reason being is that most writers would have positive comments rather then negative ones in Saudi Arabia. Some of the suggestion the writer gave was 'do not invest in the Saudi or Arabic market maybe in the short run but in the long run your doomed to go bankrupt'. I was interested that he was truthful but disappointed that he did not give any solutions or suggestions. For a Saudi Arabian or any business man how wants to get involved with the Saudi economy or any aspect of our market it is a very interesting article to read because it will give you a truthful opinion and maybe a different point of view but the negative aspect of the article is that its in Arabic.
Decrease in oil prices
Date: 22 March, 2009
URL: http://www.100400.com/
In this article which is in Arabic the comments and usage of language is very powerful, normally I don't read many financial news in Arabic since I live in London but this article caught my attention. It mainly discusses how the decrease in prices of oil has dramatically affected every aspect of the Saudi Arabian economy, since 90% of our revenue come from the production of oil in Saudi Arabia it is clear that this will have a big affect especially how low the price of oil is becoming as compared to before. This specific writer assumes that are economy is in big trouble in the future which surprises me, the reason being is that most writers would have positive comments rather then negative ones in Saudi Arabia. Some of the suggestion the writer gave was 'do not invest in the Saudi or Arabic market maybe in the short run but in the long run your doomed to go bankrupt'. I was interested that he was truthful but disappointed that he did not give any solutions or suggestions. For a Saudi Arabian or any business man how wants to get involved with the Saudi economy or any aspect of our market it is a very interesting article to read because it will give you a truthful opinion and maybe a different point of view but the negative aspect of the article is that its in Arabic.
Sunday, 15 March 2009
Blog 3 (Government on alcohol)
Top medic looks to take on "binge drinking"
Date: 15 March, 2009
URL: http://uk.reuters.com/article/UKNews1/idUKTRE52E0XE20090315
I read this article in REUTERS UK medics and hospitals are convincing the government to rise alcohol prices because of Binge drinking
-Britain has the 10th highest alcohol consumption in the world, according to the World Health Organisation, with the equivalent of nearly 12 litres of pure alcohol consumed by each member of the population per year.
- While The National Health Service spends more than $4 billion (2.9 billion pounds) a year treating alcohol-related illnesses, with around 400,000 people admitted to hospital with drink problems, according to government figures. A sizeable number are children under 14.
What a scam by the government in my opinion instead of putting more regulation they just want to rise the price just so they can benefit from it instead of more so for health reasons. A smarter suggestion would be why not put restriction in shops to sell or periods of times in the day when they can sell or age limits, rising the price wont change the consumption. From my personal experience when I have a glass and get little woozy I'm not that price sensitive. 3 Billion pounds a year treating alcohol consumers and an outstanding 25 billion in damages those number are big especially when considering the population to some larger countries. But the problem is alcohol is heavily commercialized in the UK, yeah probably rising prices would have an affect for now but people would get accustomed to the prices and they just wont care as long as they have their drink. I'm not British but I believe this is just way for the reeling UK government to get more money from the people because they know it will bring a huge amount of revenue.
Date: 15 March, 2009
URL: http://uk.reuters.com/article/UKNews1/idUKTRE52E0XE20090315
I read this article in REUTERS UK medics and hospitals are convincing the government to rise alcohol prices because of Binge drinking
-Britain has the 10th highest alcohol consumption in the world, according to the World Health Organisation, with the equivalent of nearly 12 litres of pure alcohol consumed by each member of the population per year.
- While The National Health Service spends more than $4 billion (2.9 billion pounds) a year treating alcohol-related illnesses, with around 400,000 people admitted to hospital with drink problems, according to government figures. A sizeable number are children under 14.
What a scam by the government in my opinion instead of putting more regulation they just want to rise the price just so they can benefit from it instead of more so for health reasons. A smarter suggestion would be why not put restriction in shops to sell or periods of times in the day when they can sell or age limits, rising the price wont change the consumption. From my personal experience when I have a glass and get little woozy I'm not that price sensitive. 3 Billion pounds a year treating alcohol consumers and an outstanding 25 billion in damages those number are big especially when considering the population to some larger countries. But the problem is alcohol is heavily commercialized in the UK, yeah probably rising prices would have an affect for now but people would get accustomed to the prices and they just wont care as long as they have their drink. I'm not British but I believe this is just way for the reeling UK government to get more money from the people because they know it will bring a huge amount of revenue.
Sunday, 8 March 2009
Blog 2 (future)
Recession on track to be longest in postwar period
Date: 8 March, 2009
URL: http://finance.yahoo.com/news/Recession-on-track-to-be-apf-14576641.html
What caught my attention to this article is how it started 'Factory jobs disappeared. Inflation soared. Unemployment climbed to alarming levels. The hungry lined up at soup kitchens' such strong words to start an article which I found in Yahoo Finance section. This article compares this recession to the the one of 1981-1982 but experts suggests that this period of time might or will be worst.
--In January, reports showed 207,000 manufacturing jobs vanished in the largest one-month drop since October 1982.
--Major automakers' U.S. sales extended their deep slump in February, putting the industry on track for its worst sales month in more than 27 years.
--Struggling homebuilders have just completed the worst year for new home sales since 1982.
--There are 12.5 million people out of work today, topping the number of jobless in 1982.
Full of Negativity and no hope but as a reader you feel like its real and truthful:
"This recession is broader, deeper and more complicated than virtually anything we have ever seen," Wachovia Corp. economist Mark Vitner said. "The whole evolution of the credit markets resulted in all sorts of complex financial instruments that are difficult to unwind. It's like trying to unscramble scrambled eggs. It just can't be done that easily. I don't know if it can be done at all."
After comparing the past recession of 1982 to know the article ends with a very sarcastic quote from the writer:
He said he sees fear in the eyes of his clients.
"I've had people come up and hug me after a presentation, which is unusual," he said. "I haven't told them anything about how it's going to be better, but they just feel better having a better understanding of what's happening."
Basically were all in danger, and the worst is yet to come????????????
Date: 8 March, 2009
URL: http://finance.yahoo.com/news/Recession-on-track-to-be-apf-14576641.html
What caught my attention to this article is how it started 'Factory jobs disappeared. Inflation soared. Unemployment climbed to alarming levels. The hungry lined up at soup kitchens' such strong words to start an article which I found in Yahoo Finance section. This article compares this recession to the the one of 1981-1982 but experts suggests that this period of time might or will be worst.
--In January, reports showed 207,000 manufacturing jobs vanished in the largest one-month drop since October 1982.
--Major automakers' U.S. sales extended their deep slump in February, putting the industry on track for its worst sales month in more than 27 years.
--Struggling homebuilders have just completed the worst year for new home sales since 1982.
--There are 12.5 million people out of work today, topping the number of jobless in 1982.
Full of Negativity and no hope but as a reader you feel like its real and truthful:
"This recession is broader, deeper and more complicated than virtually anything we have ever seen," Wachovia Corp. economist Mark Vitner said. "The whole evolution of the credit markets resulted in all sorts of complex financial instruments that are difficult to unwind. It's like trying to unscramble scrambled eggs. It just can't be done that easily. I don't know if it can be done at all."
After comparing the past recession of 1982 to know the article ends with a very sarcastic quote from the writer:
He said he sees fear in the eyes of his clients.
"I've had people come up and hug me after a presentation, which is unusual," he said. "I haven't told them anything about how it's going to be better, but they just feel better having a better understanding of what's happening."
Basically were all in danger, and the worst is yet to come????????????
Sunday, 1 March 2009
Tarik Blog 1 (Iran)
Iran's uranium 'enough for bomb'
BBC News Article: 1 March, 2009
URL: http://news.bbc.co.uk/1/hi/world/americas/7917726.stm
In this article there are three interesting opinions and views to the situation at hand. This topic has been discussed for several years now but in the time of turmoil in the Middle East it has become a bigger issue. If Iran has a nuclear bomb? OR are they building a nuclear material to build a bomb? Iran has been denying the allegations and they have been repeatedly saying that the reason they are being accused because they have been backing Lebanon but mostly Palestine against Israel. Adm Mike Mullen, US Joint chiefs of staff (to CNN) "And Iran having a nuclear weapon, I've believed for a long time, is a very, very bad outcome for the region and for the world," he said while David Albright, president of the Washington-based Institute for Science and International Security (to AFP news agency) The amount "is sufficient for a nuclear weapons breakout capability" both spokesmen have similar view to the situation and seemed pretty sure and confident with their opinions and were willing to confidently express them. In the other hand US Defence Secretary Robert Gates has adopted a more cautious approach, "I think that there has been a continuing focus on how do you get the Iranians to walk away from a nuclear weapons programme? They're not close to a stockpile. They're not close to a weapon at this point," he told NBC on Sunday. I think giving different views is crucial because it expresses different opinions and ideas.
My opinion is that Iran having a nuclear bomb could be a major threat to Israel and the Western World especially at this time and age of conflicts going on, but many countries have them and Iran never threatened any country before. It will be interesting to see what occurs with this situation in the future. I would rather see prove of finding the facilities and the objects rather then hearing speakers giving their own opinions.
BBC News Article: 1 March, 2009
URL: http://news.bbc.co.uk/1/hi/world/americas/7917726.stm
In this article there are three interesting opinions and views to the situation at hand. This topic has been discussed for several years now but in the time of turmoil in the Middle East it has become a bigger issue. If Iran has a nuclear bomb? OR are they building a nuclear material to build a bomb? Iran has been denying the allegations and they have been repeatedly saying that the reason they are being accused because they have been backing Lebanon but mostly Palestine against Israel. Adm Mike Mullen, US Joint chiefs of staff (to CNN) "And Iran having a nuclear weapon, I've believed for a long time, is a very, very bad outcome for the region and for the world," he said while David Albright, president of the Washington-based Institute for Science and International Security (to AFP news agency) The amount "is sufficient for a nuclear weapons breakout capability" both spokesmen have similar view to the situation and seemed pretty sure and confident with their opinions and were willing to confidently express them. In the other hand US Defence Secretary Robert Gates has adopted a more cautious approach, "I think that there has been a continuing focus on how do you get the Iranians to walk away from a nuclear weapons programme? They're not close to a stockpile. They're not close to a weapon at this point," he told NBC on Sunday. I think giving different views is crucial because it expresses different opinions and ideas.
My opinion is that Iran having a nuclear bomb could be a major threat to Israel and the Western World especially at this time and age of conflicts going on, but many countries have them and Iran never threatened any country before. It will be interesting to see what occurs with this situation in the future. I would rather see prove of finding the facilities and the objects rather then hearing speakers giving their own opinions.
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