August 19, 2008 – 2:56 pm
China is the leading Gold Medal winner so far in the Olympics game with 43 medals to its credit, with the second place taken by US with only 26 Gold medals. With just few more days left, it looks almost certain that China will continue with the leadership position throughout.
This is a fantastic feat by China which is always accused by the Western world of violating human rights on its masses through iron hand tactics. But the results show that China is indeed a nation with lot of exemplary sports talent which does not come under authoritarian environment, aver experts.
August 19, 2008 – 2:46 pm
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August 19, 2008 – 2:36 pm
Russia has directly warned all rouge nations which are in some way or the other troubling it or its citizens, that it will use its might and force to make all such countries correct their mistakes. The warning comes a day after formal indication from Russia that its troops will be withdrawing from Georgian territories.
August 19, 2008 – 2:32 pm
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August 19, 2008 – 2:20 pm
Crude oil continued to drop further , and it touched a new three month low of 111 dollars to a barrel today in mid day trading. The drop is attributed to major unwinding of position by speculators amidst worry that post completion of the Olympics games, the demand from China, one of the biggest oil guzzlers, will come down drastically. The OPEC team is already worried about the steep 15% drop in crude oil prices in the last few weeks, and is most likely to meet sometime next month , and discuss production cuts to keep the prices up.
August 19, 2008 – 2:16 pm
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August 18, 2008 – 8:45 am
Michael Phelp became the first in the world to win seven gold medals in an Olympic games for the past several decades. Right from the start of the swimming events Phelp has been grabbing the gold medal one by one and reached the awesome feat by winning the seventh gold yesterday. The entire US team is zapped by the success of Phelp and it is expected to boost the other US team members to work more vigorously to get more medals for their country in the remaining events.
August 17, 2008 – 6:33 am
Merrill Lynch is said to have incurred close to 29 billion dollars of loss due to the sub prime crisis
in their UK unit. Since the unit is unlikely to make profit in the coming quarters. This massive loss is expected to result in the unit not paying any tax to UK government for many years to come. Experts fear that the housing crisis is yet to peak, and hence more write offs are likely in coming quarters which
can put the UK unit existence under question.
August 16, 2008 – 8:58 am
The crude oil prices which have been in a downtrend for the last few weeks due to slowdown fears
across the globe, touched a new low this week at 113 dollars. Experts feel that crude prices
might touch below 100 dollars levels in coming weeks since demand from China and India are also expected to crash post Olympics. OPEC countries might go for a production cut shortly in order to avoid further crash in prices which will reduce their realization. Even after the steep 23% drop from the peak level, the prices are nearly 100% higher than what they were a year ago.
The steep hike in Crude oil prices has been there ever since 2007 end and it has been taking its toll on developing countries like India and China very badly. The crude oil price hike from nearly 30 dollars two years back to over 110 dollars now has lead to very high inflation in all consuming countries like US , Europe, China and India.
The actual GDP growth of China could have been at least three to four points higher than what has been achieved, but for the steep crude oil price hikes. Similarly the GDP growth of US could have been definitely positive and the sub-prime crisis could have been far less impacting , had the crude prices not gone up by over 100%.
August 14, 2008 – 4:18 pm
Abinav Bindra became the first Indian to win an Individual Olympics gold medal in over 25 years
and his feat has put the entire Indian country in a celebration mode. More and more local governments
have announced financial awards for Bindra, and it seems he has hit the bulls eyes by winning the Olympics
gold in shooting competition. Many companies in India are expected to sign up with
Bindra for their brand promotions.
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