Category archives for Economics

GE takes partnership route for long-term gains in China

Technology and commercial partnerships between US businesses and Chinese enterprises can benefit both nations, said Mark Hutchinson, president and chief executive officer of General Electric Co (GE) China. According to Hutchinson, such partnerships will help create jobs, spur innovation and expand markets for both nations. GE, the world’s biggest maker of power generation equipment and […]

What if the top one percent in USA were true Muslims?

By Dr. Zia H Shah The short answer to this provocative question in the title is that the elite 1% will pay Zakat, which is a tax on savings and property. At a suitable rate of taxation, Zakat will have the potential to fulfill all the essential needs of the remaining 99%. If the top one […]

One of the reasons why Capitalism worked before and now failing: Lack of innovation!

In the past, innovation leading to bigger markets have allowed the Western societies to keep growing GDP and keep paying the debts at different levels, including individual, County, State and Federal. Unless there are dramatic and big innovations, creating more trade and commerce, it will be downhill from here, in my view. I got the insight […]

Russia Clears Last Hurdle for W.T.O. Membership

Source / Courtesy: NY Times PARIS — Russia on Thursday cleared the last major obstacle in its 18-year effort to join the World Trade Organization in what the head of the institution called a milestone for global trade. “It’s a victory for Russia, a victory for W.T.O. members, and a victory for the W.T.O.,” the […]

US immigration for sale‏

Source: Wall Street Journal By NICK TIMIRAOS The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S. The provision is part of a larger package […]

Can’t Buy Love: Materialism Kills Marriages — Islam could help!

Source / Courtesy: Yahoo — I have changed the title Focusing too heavily on the “for richer” part of the nuptial vows could spell disaster for a marriage, according to research published today by Brigham Young University. In a survey of 1,700 married couples, researchers found that couples in which one or both partners placed […]

House Is Gone but Debt Lives On

Source / Courtesy: Wall Street Journal LEHIGH ACRES, Fla.—Joseph Reilly lost his vacation home here last year when he was out of work and stopped paying his mortgage. The bank took the house and sold it. Mr. Reilly thought that was the end of it. In June, he learned otherwise. A phone call informed him […]

Who owns America? Hint: It’s not China

Courtesy: CNN Here’s a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider: Hong Kong: $121.9 billion (0.9 percent) Caribbean banking centers: $148.3 (1 percent) Taiwan: $153.4 billion (1.1 percent) Brazil: $211.4 billion (1.5 percent) Oil exporting countries: $229.8 billion (1.6 percent) Mutual funds: $300.5 billion […]

Fed close to new financial buffers for banks

Source / Courtesy: Yahoo news WASHINGTON (CNNMoney) — The Federal Reserve is expected this week to release a set of proposed rules detailing how much reserve capital big banks will need to keep on hand in the future. Wall Street is watching the rulemaking closely. Higher capital cushions would directly impact banks’ ability to lend, […]