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| Yemen Can't Do It Alone |
 DURING a recent visit to Yemen, I
was sitting in a cafe in Sana
when we suddenly experienced a
power outage. I asked the waiter
what happened, and he replied:
"Saleh's men keep attacking the main
power plant in Mareb to disrupt life in
Sana. |
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| THE AUSTERITY
AGENDA |
 JOHN Maynard Keynes 75 years
ago declared,"The boom, not
the slump, is the right time for
austerity." And he was right.
Even if you have a long-run deficit
problem - and who doesn't? -
slashing spending while the economy
is deeply depressed is a ... |
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 | Qatari, Saudi economies may
help stabilise Gulf bourses
THE Qatar Exchange (QE) along
with most Gulf Arab share markets
fell on Sunday as concern
about a weak global economy,
sliding oil prices and declines in
overseas equity prices caused
buying interest to dry up.
A lack .
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| | Vale, Posco may take stake in
Thyssen´s Brazil, US plants |  THYSSENKRUPP has attracted
interest from Brazil´s
Vale and South Korea´s
Posco for its struggling steel
plants in Brazil and the
United States, German
weekly WirtschaftsWoche
reported.
Citing company sources,
the magazine said Vale,
which already owns 27 percent
of the Brazilian plant
CSA, would be interested in
buying the rest of the joint
venture, which has saddled
Germany´s biggest steelmaker
with heavy losses.
A Vale representative said
on Saturday the company
did not want to buy a controlling
stake in any steel
mill. But she did not rule
out the company increasing
its stake in CSA, so long as
it did not become the
majority ... | | | JPMorgan fined
$30,000 for oil
wash trades |  JPMORGAN Chase & Co
executed wash trades on 10
separate occasions in US
crude oil and gasoline
futures in the first half of
2011, the operator of the
New York Mercantile
Exchange said in a disciplinary
notice.
Banned under exchange
rules, wash trades involve
having the same dealer on
opposite sides of one trade,
simultaneously buying and
selling the same commodity.
CME Group, which operates
NYMEX, ordered
JPMorgan to pay a fine of
$30,000. One of the
JPMorgan traders, Ebele
Emelumadu, was fined a further
$10,000.
The $30,000 fine, equivalent
to just over one millionth
of JPMorgan´s total
employee compensation last
year of $29 billion, comes as
the ... | | | Spain´s debt crisis hits retailers |  PLUMMETING sales and
rising taxes have sent tens
of thousands of shops over
the brink since Spain´s economic
crisis erupted.
Cesar Calle´s general
store, "Lemon Tea", which
opened 15 years ago in a
working class district of
Madrid, is no exception.
"Total clearance sale in
desperation" says a sign
posted up in the shop. The
same words are emblazoned
on the staff´s teeshirts.
The shop once drew 1,000
customers a day but sales
have plunged 30 percent
since the crisis struck in
2008.
Calle, 53, has given up
trying to save his business.
"This severe crisis has
been going on for three
years and we can´t go on
any more," he said.
"Customer numbers are
down... | |
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