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One can almost compare the Eurozone crisis to a never-ending TV soap; you come back to reading up on it after months, and it seems like the story is where you left it.
The global coal industry, with its hopes pinned on Romney, got into hot water after the Republican contender lost his bid for the White House. Obama, who has been an ardent supporter of clean energy since his first term, is likely to further squeeze the noose on Green House Gas (GHG) emissions, following the devastating hurricane Sandy that has brought the global warming issue under the limelight, internationally.
As 2012 approaches its close, the disconnection between the two contracts, Brent and WTI, and the vulnerability to localised demand and supply issues, become vividly startling. Once again the spread between the American Midwest and European standards hovers around one year high, the latter being more reflective of the global events.
Its a wake-up call for the country; those at the helm of policy making may continue to rant about their undue contribution to the economy, but all claims seem to celebrate in abysm.
The Nobel Prize-winning economist Joseph Stiglitz once famously commented: "What you measure affects what you do"; while highlighting the limited efficacy of GDP as a measure of the overall prosperity of a nation.
Now that Obama has been reelected as the US President, economic considerations are riding as high as political considerations: And the most critical economic deadlock to be faced is that of the fiscal cliff. The $600 billion combination of spending cuts and tax increases will materialise come January 1, unless the US Congress reaches a consensus on preventing it in the lame-duck session to be held before the Christmas holidays.
A decade ago, the face of the retail industry was starkly different from what it is today. Amazon had only just begun its foray into profitability, retailers were busy championing the cause of big-box expansions and the world was just witnessing the rise of the British high street.

 



 
Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,729.17 0.03
Arrow DAX 9,915.56 0.55
Arrow CAC-40 4,373.42 0.20
Arrow Nikkei 17,383.58 0.14
Arrow H.Seng 24,111.98 1.12
Arrow Sensex 28,386.19 0.17






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln