Monday, September 6th, 2010

Daily Verdict: November 12th, 2008

Markets take another fall
International stock markets took another dive today with across the board losses. Intel announced a cut to its 4th quarter revenue forecast by 14%, sending a lot of tech stocks for a plunge. The Dow closed down 411 points while the FTSE100 was down only 64 points. The CAC40 was down 102 points, DAX 140 points, and the IBEX 265 points. The Nikkei was also battered, down another 410 points. Oil also dropped again reaching even $54/barrel. Are things going to get much worse before they get better?

Israel within Iran’s reach
Iran claims it has tested a new surface-to-surface missile whose range makes it possible for the missile to reach most US bases in the Gulf and even Israel. Iranian Defence Minister Mostafa Mohammad Najjar said that the new missiles are part of his country’s deterrent doctrine and will be used only as a defensive measures. This comes after months of tensions between Iran and western nations over its nuclear program. A show of strength on behalf of the Islamic nation is a clear sign to the world that it will not back down in the face of threats.

Darfur truce
President Omar Hassan al-Bashir of Sudan announced has declared a ceasefire in Darfur. The announcement was quickly rebuffed by one of the rebel groups who vowed to continue fighting. Al-Bashir, who faces a possible indictment for war crimes in Darfur by the International Criminal Court, pledged to launch a disarming campaign to ensure the violence stops. Since 2003, recent estimates suggest that 2.5 million people have been displaced and over 200 000 people killed but other estimates put that number much higher. The UN Secretary General Ban ki-Moon lauded the ceasefire as a step in the right direction but it is not up to the parties to implement the agreement.

Zimbabwe progress?
The Zimbabwe ruling party has asked President Mugabe to continue with the formation of an inclusive government with immediate effect. A member of the ruling party also mentioned that Tsvangirai’s opposition party will also be invited to submit nominations for a power-sharing government proposed by the SADC. This does seem to signal an end to the political stalemate but any true progress will not be made until the government resumes all its duties without any political problems or squabbling between the two parties.

EA to debut Fit rival
Electronic Arts has unveiled a rival to the Fit game for the Wii. Called “EA Active”, the game is exclusively available for the Wii and will cost only $60. Known more for its big titles like Madden and Fifa, EA is looking to capitalize on the success of Fit and tap into an emerging market where video games serve just as useful as the going to the gym, but at a lower cost. Diverse game titles such as “Allen Carr’s Easyway to Stop Smoking” are becoming more and more popular as video games are turning into more than simple entertainment.

Microsoft copies Facebook
Microsoft will update its online social network, Windows Live with features made popular by Facebook. Adding “friends” and seeing what their current activities as well as email notifications are among the new changes coming to Live. It will also partner with many other websites such as Flickr, Twitter, Photobucket, and many more in an effort to make it very interactive and inclusive. One noticeable absence from that list is Facebook, in which Microsoft has bought a $240 million stake. There is confirmations that there have been discussions with Facebook but they are not a partner yet. No wonder! With these changes, Windows Live just became direct competition!