Thursday, January 1, 2009

Financial loss and best soccer goals in 2008

From the NYT:

All told, about $7 trillion of shareholders’ wealth — the gains of the last six years — was wiped out in a year of violent market swings.

Billionaire blowups of 2008:

More than 300 of the 1,125 billionaires we tallied on our annual list last March have since lost at least $1 billion; several dozen lost more than $5 billion. The 10 richest from our 2008 rankings dropped some $150 billion of wealth, dragged down by steel tycoon Lakshmi Mittal, estranged brothers Mukesh and Anil Ambani and property baron K.P. Singh, who together dropped $100 billion. America's 25 biggest billionaire losers of 2008 lost a combined $167 billion.

This video is quite amazing!


Now, the best 2008 football goals:


Nepali economy in 2009

My former colleague Prem Khanal writes:

The year 2008 ended further cementing historic changes in the political front but little enthusiasm the economy saw to turnaround deepening economic woes. Instead, topsy-turvy policy often contradicting with market-based economic principals, acute power shortage and shattered private sector’s confidence all have emerged as major headwinds that the Maoists-led government will be confronting to lay groundwork to achieve a ‘double-digit growth’ in 2009.

My main worries: gradual wiping off of the industrial base due to load-shedding, negative impact on the service sector, rising general price level (14% inflation rate is one of the highest in South Asia) and stalemate in hiring (low-skilled jobs abroad) by foreign companies. All could lead to social unrest!