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centerimg title="Okoro OMS-LX100 Digital Entertainment System" style="MARGIN: 0px" alt="Okoro
OMS-LX100 Digital Entertainment System"
src="http://www.ubergizmo.com/photos/2008/11/okoro-htpc.jpg" border="0" //centerbr / pOkoro has a
new HTPC for the masses with the OMS-LX100 Digital Entertainment System. Inside the rather slim
exterior, you will find the following specifications :- /p p ul liSingle CableCARD tuner /li
liIntel Core 2 Duo 2.2GHz processor /li liNVIDIA GeForce 9300 video card/li li4GB RAM /li
li7,200RPM SATA hard drive (500GB)/li li7.1-channel high-definition audio support/li liHDMI port/li
liDual-layer DVD burner/li/ul p/pEach $1,725 purchase comes with a wireless keyboard that works
perfectly fine within a 20-foot radius, and the whole PC is powered by Windows Vista Premium. If
you have a little extra bit of dough to spare, you can always replace the front-panel display with
a 7" touchscreen display for easier navigation. pa
href="http://www.ubergizmo.com/15/archives/2008/11/okoro_omslx100_digital_entertainment_system.html#comments"Add
a comment/a | From: a
href="http://www.ubergizmo.com/15/archives/2008/11/okoro_omslx100_digital_entertainment_system.html"Okoro
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img class=face src=http://planet.ubuntu.com/heads/emmajane.png alt= pI don't get a lot of fan mail.
But I'm pretty sure I just got the world's best intentioned, but poorly thought out, fan letter: /p
blockquotep Love yer site, your Drupal work, and omfg, you're even into the Ubuntu doc-team. I
think that is the grandest, and I'll likely gawk atcha in DC during DrupalCon where a 3D
screensaver / wallpaper, and general graphic homage will be born out due to a slick time lapse
photo montage shall ensue, et. al. ;-gt;br / Keep on rockin' in the free world. :-) /p/blockquote
pThe identity of this person will forever be known to only two people (me and quot;himquot;), so
please don't ask. Although I am a little bit creeped out by this email, this Public Service
Announcement isn't about making anyone feel uncomfortable. (I've sent my fair share of weird emails
that have been fuelled by inside jokes and caffeine and not at all fuelled by sanity, so I'm hardly
one to judge. This person has gotten a quick reply back and knows how I feel about the
email.)Â /p pThis blog post is actually a specific request to please never
quot;gawkquot; at me from a distance. Say hello and introduce yourself! I verge on crowd-phobic. I
hate having to interact with a room full of pre-clustered people. Delivering a presentation to a
few hundred people? No problem. Facilitating huge discussion groups? Love it! But I'd rather have
teeth pulled than quot;work a room.quot; So the next time we're both together in the same room,
please come up and introduce yourself. I'll be the one sitting in the corner noodling with tech to
avoid having to break into a cluster of people and say hi./p
Night of the Cephalopods is
a short action game created for the Artsy Games Incubator project, where players assume control over a man who is hounded
by Lovecraftian creatures of the octopi type. Contact with these horrors causes your character to
lose a little of his sanity, although mental health can be automatically restored by standing still
in one spot for a few seconds.
Use the cursor keys to move, and press the space key to fire your shotgun or reload it. The game
ends when our hero loses his mind completely, or when you manage to somehow survive until the break
of dawn.
Name: Night of the
Cephalopods
Developer: Miguel Sternberg
Category: Action
Type: Freeware
Size: 10MB
Direct download link: Click
here
I'm working on a project in imovie and I'm having a bit of trouble. I imported all the clips onto
my hard drive through imovie and edited them all down to soundbytes. When i came back only some of
them showed up in my media area yet all of the files appear on the hard drive. I've tried a bunch
of different things and I'm not having much luck. I feel like it must be something fairly simple
and I'm just a little rusty with it. Do you have any ideas? If there is any way you could give me a
call or I'd be happy to meet up with you for a few minutes tomorrow. Thanks so much. I hope all is
well with you.
This evening we've added our official review for Summit Entertainment's Twilight, the hotly anticipated
adaptation to Stephenie Meyer's teen vampire drama. "This entire adaptation was carried through
by my wonderful Catherine Hardwicke, who took a shiny little turd and transformed it into a
watchable, slightly enjoyable film." You can read the full review, with minor spoilers, by
clicking the title above. Don't forget to write your own review and
tell other B-D readers what you thought! The film is about a high school girl named Bella falls in
love with a vampire. The new couple leads a rival vampire clan to pursue them and attempt to force
her to decide if she, too, wishes to become one of the undead.
divimg alt=""
src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/84645?ns=guardianpageName=Business%3A+Brutal+share+sell-off+in+US+as+oil+falls+below+%2450+for+first+time+in+3%26frac12%3B+yearsch=Businessc3=The+Guardianc4=US+economy+%28Business%29%2CBusiness%2CMarket+turmoil%2CUS+news%2CWorld+news%2CSharesc5=Investments%2CCredit+Crunch%2CNot+commercially+useful%2CBusiness+Markets%2CUS+Economyc6=James+Doran%2CLarry+Elliottc7=2008_11_21c8=1121682c9=articlec10=GUc11=Businessc12=US+economyc13=c14=h2=GU%2FBusiness%2FUS+economy"
width="1" height="1" //divpWall Street suffered its biggest battering in more than 10 years last
night, while fears of a long and painful economic slump continued to stalk the markets./ppBoth
stockmarket indices in the US - the Dow Jones Industrial Average, and Standard Poor's 500 index -
closed the day at levels not seen since before the burst of the dotcom bubble in 2000. And the
price of oil dropped below $50 a barrel for the first time in 3frac12; years./ppYesterday
afternoon, what little confidence remained in the market was sapped by a record rise in US
unemployment, and Washington's refusal to offer a financial bail-out to the country's so-called Big
Three carmakers./ppIn the final two hours of trading, the sell-off was brutal: the Dow plunged
444.99 points - or 5.6%- to 7552.29. The SP 500 slid 6.7% to 752.44, its lowest close since 1997.
Banking shares were perhaps the hardest hit, with Citigroup closing the day down 26%. This latest
share collapse left Citigroup - once the biggest bank in the world - with a market value of $25bn.
Less than two years ago, the group was worth more than $250bn./ppGM And Ford both closed up but
lost massive gains made earlier in the day when the prospect of a bail-out was still on the cards.
Their share prices plunged as Paulson revealed his distaste for government intervention in the car
market ./pp"No one thinks a failure of any company in [the auto] industry would be a good thing.
It's something to be avoided," Paulson said. But: "It doesn't make any sense to put any money in,
if there isn't a clear path to viability."/ppThe slumping markets were further buffeted by the
worst unemployment data in the US for 16 years. /ppInitial claims for state unemployment benefits
were a seasonally adjusted 542,000 in the week to November 15, compared with 515,000 a week before,
the biggest weekly increase since 1992. /ppCalifornia had the worst increase, with 15,000 more out
of work over the week. New York also posted record gains, with 3,700 newly unemployed people as a
large number of layoffs from Wall Street firms such as Goldman Sachs and Citigroup begin./pp"These
numbers are rotten," said David Wyss, chief economist at Standard Poor's in New York. He said
California's losses were so high because many businesses had been affected by the recent wildfires.
America's national unemployment rate is running at 6.5%, while total claims lasting more than one
week broke through the 4m mark, to hit a 25-year high./ppTo compound it all, the dollar weakened
further still against major currencies. A euro cost $1.2534, up from $1.2526 on Wednesday. /ppIn
the oil market, the cost of a barrel of benchmark Brent crude fell by almost $3 to $49.83 on
commodity markets. US light crude, which tends to be slightly dearer than Brent, briefly dipped
below the $50 level in New York trading./ppThe slump means British motorists are likely to see
petrol prices come down by a further 7p a litre before Christmas./ppThe Opec oil cartel is
contemplating supply curbs when it meets in Cairo next week, but oil analysts said the prospect of
tumbling demand for oil outweighed any possible cut in production. /ppThe RAC said the tumbling
cost of crude - dropping almost $100 a barrel since its July peak of more than $147 - would mean
that it would be pound;17 cheaper to fill up the average car. But AA spokesman Luke Bodset warned
that, while wholesale prices were being pushed down, "they are not necessarily being passed on to
the consumer, because the pound has lost a quarter of its value over the last year"./pdiv
style="float: left; margin-right: 10px; margin-bottom: 10px;"ullia
href="http://www.guardian.co.uk/business/useconomy"US economy/a/lilia
href="http://www.guardian.co.uk/business/marketturmoil"Market turmoil/a/lilia
href="http://www.guardian.co.uk/world/usa"United States/a/lilia
href="http://www.guardian.co.uk/money/shares"Shares/a/li/ul/divdiv class="guRssAdvert"a
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border="0" //a/diva href="http://www.guardian.co.uk"guardian.co.uk/a copy; Guardian News Media
Limited 2008 | Use of this content is subject to our a
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Great article from the Wall Street Journal's Paul Ingrassia that summarizes how and why the US auto
industry fell to pieces. My favorite part was this telling excerpt: In Detroit, amid worker
alienation and the "blue-collar blues," Chevies, Fords and Plymouths rattled, rusted and rolled
over -- and those were the good ones. The Ford Pinto's gas tank was prone to explode into flames
when the car was hit from the rear, making the Pinto the poster product for corporate callousness.
In 1978, after three Indiana girls burned to death when their Pinto got rear-ended, Ford became the
first company to be indicted for reckless homicide. The company later was acquitted, but public
opinion judged the Pinto guilty. For all the Pinto's infamy, perhaps no car better captured
America's decade-long haplessness than the pug-ugly AMC Gremlin, which debuted in 1970 and died --
mercifully -- in 1980. The Gremlin's shape, fittingly, was first sketched out by an American Motors
designer on the back of a Northwest Airlines air-sickness bag. On Aug. 20, 1979, 18-year-old Brad
Alty, fresh out of high school in Mechanicsburg, Ohio, was driving his Gremlin to work when the car
broke down. He was two-and-a-half hours late to his first day on the job at a new motorcycle
factory that Honda Motor was opening in central Ohio. For the next few weeks, Mr. Alty and his 63
co-workers did little but sweep floors and paint them with yellow lines. Then they started building
three to five motorcycles a day. And at the end of each day they would disassemble each bike, piece
by piece, to evaluate the workmanship. How Detroit drove into a ditch...br style="clear: both;"/ a
href="http://www.pheedo.com/click.phdo?s=35197057eefee157cd1df43b7a931fa4p=1"img alt=""
style="border: 0;" border="0"
src="http://www.pheedo.com/img.phdo?s=35197057eefee157cd1df43b7a931fa4p=1"//a img
src="http://www.pheedo.com/feeds/tracker.php?i=35197057eefee157cd1df43b7a931fa4" style="display:
none;" border="0" height="1" width="1" alt=""/
Firstly, here's a little background on myself. I have been rocking Windows since 3.1 till about 2
months ago. I'm very well versed when it comes to a computer and I'm honestly having a blast
learning the beast that is Mac. My main problem so far is hitting the function key to push
shortcuts instead of command. Can't seem to shake that habit. One thing I can't figure out is my
right side shift key. When I'm typing and there happens to be more than one uppercase letter in the
phrase/sentence or whatever....it just stops working. I think I've found the pattern. Every 3rd
words that starts out with an uppercase, it just doesnt work. I have to caps lock to get it to
work. What's the hell is going on? Is there a setting somewhere?
Thanks for any help, hopefully I don't have a bum mac.
OStatic: "The Ubuntu project says that the initial alpha release of Ubuntu 9.04
(the "Jaunty Jackalope") could be available for testing in less than twenty-four hours. Yes, that's
a little less than a month after the current, stable version, "Intrepid Ibex" was finalized and
formally released."
You may or may not have noticed that I’m actually supposed to be posting here. I’m
kinda the Halley’s Comet of the CSBG crew. I turn up very rarely, there’s a brief
flurry of excitement and then I vanish for an interminable period of time.
Anyway, one of the reasons for this is that, well, most comics these days just don’t light
a fire under me. The blog is called ‘Comics Should Be Good’ after all, and, well,
I’m finding that most of what flits under my nose these days is kind of mediocre.
Not bad, per se, just not ‘good’.
Which leads us to Jamie Smart and ‘Space Raoul’.
Jamie Smart is a plucky British cartoonist most known for ‘Bear’ a neat little comic
which came out in the wake of Jhonen Vasquez’ ‘Johnny the Homicidal Maniac’
when publishers were scrambling for the next thing which they could trademark and then proceed to
smear all over clothing, stickers and lunchboxes and flog off to pimply, middle class goth kids
at Hot Topic for a vastly inflated price.
Amongst the wave of forgettable detritus, there was something about ‘Bear’ which made
me think it wasn’t the usual load of cobbled-together crap trying in vain to replicate the
‘kowaii’ (cute but scary) work of Japanese artists like Junko Mizuno.
For one thing, it was actually funny, while pretty much everything else could, at best, manage a
sort of tired, self referential wink (”Oh, look, it’s a cute teddy bear… but
it’s evil… how potently ironic… oh, I may swoon…”), and on the
other hand, it was competently executed.
Which brings us back to ‘Space Raoul’.
Space Raoul is a plucky, bold and ever-so-British space hero who travels the galaxy with his
trusty pal, Quibble, battling Space Ne’er-do-wells, encountering strange space races and
weird space phenomena, and eating cake (possibly some sort of Space cake, but more likely some
good, stout-hearted British cake he’s packed especially for the journey). He’s a
short, pinkish-red doggy-looking thing with a bubble helmet, a star on his chest and a pipe.
And he’s utterly delightful.
In fact, so euphorically delightful that it took all my efforts to write this review and not just
write SPACE RAOUL over and over again in big letters, enthusiastically pounding and flailing my
hands, arms, elbows and face into the keyboard.
So yes, the upshot is that, after doing a bunch of ‘Space Raoul’ pieces for a bunch
of people, the kindly folks at Slave Labour Graphics have compiled them into a handy-dandy
single-volume thing. At first, it seems rather slight, but one thing with Smart is that he crams
the story into every spare corner of his page, and there’s quite a bit to read here.
There’s some neat subtexts about imperialism, Britishness, the hubris of the middle-class
and so forth, but mostly it’s jolly all-ages space fun which entertains and amuses without
talking down to its audience.
If I had one quibble (besides our hero’s trusty co-pilot), it’s that, in replicating
stuff that originally appeared in British Tabloid-sized comics into a digest-sized tpb, some of
the script does tend towards the teeny. But aside from that, it’s all jolly and pip-pip and
what ho.
pimg src="http://www.readwriteweb.com/images/google_logo.gif"Google put on a full court media push
tonight for a major change the company is making to its search experience. According to the a
href="http://googleblog.blogspot.com/2008/11/searchwiki-make-search-your-own.html"Official Google
Blog/a and a very unusual email the company sent out to press, a new feature called Google Search
Wiki will launch soon. We're not seeing it yet, but this is what it will do./p pThe feature will
allow logged-in users to change the order of search results and mark up search results pages with
notes. Only their own results will be changed - unless they click a link to view all Search Wiki
notes on a search's page. Very few details are out yet, nothing regarding vandalism, libel, history
or other wiki matters. Those are pretty important concerns given that this could become the biggest
and most important wiki in the world./p p align="right"emSponsor/embr /a
href='http://d.openx.org/ck.php?n=12669amp;cb=12669' target='_blank'img
src='http://d.openx.org/avw.php?zoneid=861amp;cb=12669amp;n=12669' border='0' alt='' align="right"
//a/p centerobject width="425" height="344"param name="movie"
value="http://www.youtube.com/v/t8Pl1H0dIXEcolor1=0xb1b1b1color2=0xcfcfcfhl=enfs=1"/paramparam
name="allowFullScreen" value="true"/paramembed
src="http://www.youtube.com/v/t8Pl1H0dIXEcolor1=0xb1b1b1color2=0xcfcfcfhl=enfs=1"
type="application/x-shockwave-flash" allowfullscreen="true" width="425"
height="344"/embed/object/center pThis isn't Google Labs, this isn't a little project off to the
side, apparently there's a Google Search Wiki team and they have access to the primary search
results page. We expect this to be a very big deal./p stronga
href="http://www.readwriteweb.com/archives/google_to_turn_search_into_wik.php#comments-open"Discuss/a/strong
pa href="http://feedads.googleadservices.com/~a/QglDM_n7aiAo2aErx2vhvYbYtpo/a"img
src="http://feedads.googleadservices.com/~a/QglDM_n7aiAo2aErx2vhvYbYtpo/i" border="0"
ismap="true"/img/a/pdiv class="feedflare" a
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src="http://feedproxy.google.com/~f/readwriteweb?i=g0r9IkQO" border="0"/img/a a
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src="http://feedproxy.google.com/~r/readwriteweb/~4/Pg_bHGxNRNM" height="1" width="1"/
Never make it over here because I'm not lucky enough to have a Mac Pro yet (keyword
yet).
So, I have an opportunity to buy an old PowerMac G4. I'm pretty sure it's one of the original
machines. I've been told it has VGA, 2 USB and 2 FW ports on it. It doesn't have any HDD or Memory
in it, but those can't be too expensive these days. He said there are a couple brackets that are
broke, but that its just a little cosmetic.
Price: $20.
Is this worth it? At least it would be fun to play with, right?
I know this is a topic that keeps coming up, but the threads never seem to end with a definitive
conclusion.
I'd like to receive my hotmail in the iPhone's mail application. There seem to be four options:
1. Mbox mail, an app you can pay for.
I don't want this because it looks like you can't initiate emails from the contacts app or safari
(eg sending a link to someone).
2. Hotmail Plus.
You have to pay, which is fine by me, but a google search comes up with a complaint that it "no
longer works", but there is little info about it.
3. Izymail.
I signed up for the trial period. Initially it was great, but became more and more erratic before
ceasing to do anything eventually. I created fresh settings, but still no luck. Do paying customers
get a better service?
4. Forwarding to gMail.
Not great because many hotmail accounts can't do this, and because you can't delete emails from the
hotmail server via the phone.
My question is, should I pay for the full Izymail subscription or hotmail plus? I have no problem
with paying for it, but I don't want to pay only to find it still doesn't work.
Who has hotmail working on iPhone, and how?
Thanks everyone..
(PS - can we please not debate the merits or otherwise of hotmail here)
A string of lynchings and attempted lynchings around Bolivia has caused a bit of concern around
the country. The latest and most
high-profile case [es] took place in the Altiplano town of Achacachi. Reports say that 11 men and women, who
were allegedly accused of robbery were captured by local residents and were set ablaze. Two of
the accused died, and the other 9 were badly burnt, but were saved when soldiers and the town's
mayor pleaded that the lynching should stop.
Unfortunately, this is becoming a common scene, which widely shows up on the television news, as
Renzo Colanzi writes [es]:
En Bolivia los linchamientos y la toma de la justicia por propia mano, son hechos comunes que se
dan en los noticieros a cualquier hora, sin proteger al televidente de la violencia de las
imágenes, sin importarle de la sensibilidad de los más pequeños que puedan
presenciarlas. Pareciera que todos hemos creado una cierta barrera que nos permite mirar y
permanecer impasibles ante estos hechos terribles. Los policías de Cochabamba se quedaron
bien muertos y el caso sin culpables. Lo mismo que en Montero y así podemos encontrar
situaciones similares en casi cualquier región del país.
In Bolivia, lynching and taking justice into one's own hands, are common events that can be seen
on the news at all hours of the day. The television viewer is not protected from seeing the
violent images, and even the smallest child is not protected from watching them. It would appear
that we all have created a certain barrier that allows us to watch and remain passive regarding
these terrible events. The police in Cochabamba remain dead and the case still has no suspects.
It is the same in Montero and we can see similar situations in all regions of the country.
Whether or not lynchings are considered “community justice” is still being debated,
and the government has officially condemned the action in Achacachi. They state that taking
another life is not part of the indigenous tradition of “community justice.” However,
local residents claim that they have little faith in the “ordinary justice” and must
take matters into their own hands or the crime will continue. There is also widespread concern
because the new draft Constitution, which will be voted upon at a January 25 Referendum,
stipulates that “community justice” will be a legal and recognized part of the
Bolivian judicial system, that lynchings could continue or even increase and used under the
defense of “community justice.”
Por que el presidente morales, tolera la barbarie, se estaba por quemar a una mujer embarazada,
emboscaron y llevaron al stadium a un bus a los 11 supuestos ladrones, se veian gente de escasos
recursos, muchas mujeres y gente bastante mayor a juzgar por las imagenes.
Es que acaso esto tambien nos da el derecho de cuando los ponchos rojos hagan las barbaridades
que hacen poder matarlos a ellos?
O es que acaso la “nueva ley” funciona en un solo sentido?
Se supone que este gobierno era el que nos iba a llevar a un nuevo siglo de progreso pero solo
nos esta llevando a la mas atrasada barbarie posible.
Because President Morales tolerates savagery, they were about to burn a pregnant woman, they
ambushed them and took the 11 alleged thieves to the stadium. One could see low-income people,
many women, and elderly people judging from the images.
Does this also give us the right when the “ponchos rojos” (members of a paramilitary
group of Achacachi) make their savage acts to kill them too?
Or does the “new law” only work in one direction?
It was assumed that this government was going to take us towards a new century of progress, but
it is only taking us to most backward savagery possible.
Sin embargo, como lo decia la periodista Amalia Pando en Erbol, no eran unos angelitos, pues las
personas que fueron capturadas en Achacachi poseian un frondoso prontuario policial… desde
robo hasta robo agravado seguido de muerte.
Sin embargo, al igual que se condena la justicia por mano propia se debe condenar al sistema
economico que origina la delincuencia.
Nevertheless, as the journalist Amalia Pando of Erbol says, that these people were no angels,
those who were captured in Achacachi had a long police record… from robbery to aggravated
robbery and even murder.
Nevertheless, as justice by one's own hands is condemened, so should the ecnomic system where
delinquency originates should also be condemned.
Many indigenous groups are attempting to protect the reputation of “community
justice.” Via the blog El
Alto Noticias [es], blogger Nelson
Vilca [es]interviews a member of the Guarayo indigenous group , who states that
“community justice” does not mean “taking another life.”
div class="center"div class="image"a
href="http://pixhost.ws/avaxhome/big_show.php?/avaxhome/ad/cc/0009ccad.jpeg" target="_blank"img
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alt="C"//a/divbr/ bC# in Depth: What you need to master C# 2 and 3/bbr/ Jon Skeet (Author) |
Manning Publications | English | 2008 | ISBN: 0782128491 | 608 pages | PDF | 5,13 MB/divbr/ C# in
Depth is a completely new book designed to propel existing C# developers to a higher level of
programming skill. One simple principle drives this book: explore a few things deeply rather than
offer a shallow view of the whole C# landscape. If you often find yourself wanting just a little
more at the end of a typical chapter, this is the book for you.
The iPhone is undoubtedly one of the best mobile phones to watch videos on. So, how about adding
TV functionality to your trusty little Apple wonder phone? If you’ve got a TV Tuner
installed on your Windows-running PC, then you should check out the OrbLive 2.0 app for the
iPhone/iPod
Touch. It allows you to stream videos, music, and yes, even TV shows direct from your PC to
your handy-dandy iPhone so you can enjoy limitless media content just as long as you’re
connected to the internet. Think of it as a more powerful and versatile version of Simplify
Media.
Unfortunately, it’s not free. The Orb 2.0 for the iPhone app is now available
for download at the App Store and comes with a $9.99 price tag, but it’s free to try
out. The desktop client which you’ll need to install on your PC, however, is free of
charge, but it’s currently limited to Windows only. So if you’ve been dying to add TV
functionality to your iPhone, this is as good as it gets at the moment.
divimg alt=""
src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/85170?ns=guardianpageName=Business%3A+From+the+Kremlin+to+Caracas%2C+how+oil+collapse+changes+everythingch=Businessc3=The+Guardianc4=Oil+and+gas+companies+%28Business%29%2CGlobal+economy+%28Business%29%2CRussia+%28News%29%2CSaudi+Arabia+%28News%29%2CIran+%28News%29%2CBusiness%2CVenezuela+%28News%29%2CCredit+crunch+%28Business%29%2CEnergy+%28Environment%29%2CEnvironment%2CWorld+news%2CMiddle+East+%28News%29%2CSaudi+Arabia+%28Football+club%29c5=Football+World+Cup%2CCredit+Crunch%2CNot+commercially+useful%2CBusiness+Markets%2CEnergy%2CEthical+Livingc6=Luke+Harding%2CIan+Black%2CRory+Carrollc7=2008_11_21c8=1121611c9=articlec10=GUc11=Businessc12=Oil+and+gas+companiesc13=c14=h2=GU%2FBusiness%2FOil+and+gas+companies"
width="1" height="1" //divh2Russia/h2pRussia is lurching towards a major economic crisis, experts
predicted yesterday, following news that the price of oil had slumped to under $50 (pound;33.72) a
barrel. The collapse was likely to have catastrophic consequences including a possible devaluation
of the rouble and a severe drop in living standards next year, they said. /ppWith oil prices
tumbling and his credibility at stake, Russia's prime minister, Vladimir Putin, yesterday insisted
that the economy was still robust. The country would survive the global financial turmoil - which
he blamed on the US - he told delegates from his United Russia party./ppBut the Kremlin is aware
that any loss of confidence in the Russian economy could lead to a loss of confidence in Putin and
his ally Dmitry Medvedev, who took over from Putin as president in May. /ppPutin said his
administration would do everything it could to prevent a recurrence of the last oil-related crash
in 1998, which saw the savings of many ordinary Russians wiped out. But the plummeting oil price
leaves him little room for manoeuvre. Experts suggest Russia's economy is facing profound
difficulties, despite two huge stabilisation funds accumulated during the booming oil years. /ppThe
fall in oil prices from $147 this July has blown a hole in the government's budget calculations. It
is now facing a $150bn shortfall in its spending plans and will have to slash expenditure in 2009.
Putin sought to assure hard-up Russians that their social benefits would not be affected. "We will
do everything in our power ... so that the collapses of the past years should never be repeated,"
he said./ppThe oil slump, however, exacerbates Russia's already severe problems. Since May Russian
markets have lost 70% of their value. Russia's central bank has spent $57.5bn trying to prop up the
ailing currency. "If the trend continues, with the government supporting the rouble, oil prices
falling and a slowing economy, we are going to have a major crisis," said Chris Weafer, of the
Moscow brokerage Uralsib.br /strongLuke Harding in Moscow/strong/ph2Iran/h2pIran is the second
largest Opec oil producer and already feeling the pain of declining prices more than any other in
the Middle East. Its "rainy day" oil stabilisation fund, used to release profits when revenues
decline, is reportedly badly depleted as a result of mismanagement by Mahmoud Ahmadinejad's
government. The precise figure is a state secret, but a member of parliament revealed recently it
was $7bn - just enough to cover one year of imported petrol./ppAhmadinejad has seen two central
bank governors resign and faces daily criticism of his policies. A strike by the powerful "bazaari"
class over a new VAT tax - which would have aggravated inflation already at nearly 30% - was seen
as a warning. Iran is especially vulnerable because 80% of its revenue comes from oil. The IMF
calculated recently that for Iran to balance its budget, the price of crude oil must not fall below
$95 a barrel. With prices now below $50 the shortfall could be staggering./ppThe effect of
declining oil prices will be felt both domestically and internationally. Ahmadinejad is expected to
stand for a second presidential term next June but the lack of cash will restrict his plans to
replace subsidies with direct cash payments - widely seen as a vote-buying tactic. US and UN
sanctions imposed over the nuclear issue are already limiting Iran's ability to issue letters of
credit and thus increasing its cost of trade./ppSaudi Arabia has been happy to use high Opec
production levels and low prices to contain Tehran's plans for regional hegemony. US experts and
lobbyists now talk openly of exploiting the drop in oil prices to make the sanctions more
effective.br /strongIan Black, Middle East editor/strong/ph2Saudi Arabia/h2pSaudi Arabia, the
world's leading oil producer and exporter, is expected to cut back on current spending and also
adjust ambitious long-term development plans in the light of the slump in prices./ppBut cautious
fiscal policies will place the kingdom in a relatively strong position, with the current budget
based on a price of around $45-50 a barrel. Expansion next year will require around $55-62./ppThe
worry must be that in a country with no elections, parliament, political parties or taxes, the
combination of slowing development projects and a widening gap between the wealthy elite and
ordinary people could be destabilising./ppPublicly, the message from the top has been that there is
no need to panic, even as falling prices of crude oil and the global financial crisis were becoming
inextricably linked and starting to wreak havoc in the Gulf economies./ppBy mid-November, the stock
exchanges of Dubai, Saudi Arabia and Kuwait had declined by 62.5%, 50.4% and 29.5% respectively.
Kuwait, which sits on 9% of world oil reserves, is expected to see its first budget deficit in 10
years if prices continue to fall. That will mean a long-term incentive to diversify away from
oil./ppIn Kuwait, Qatar, and the United Arab Emirates, government-run investment funds have also
suffered from heavy exposure to US and European stocks. But the UAE's Abu Dhabi Investment
Authority has assets of $500bn to $1tn./ppDubai, the glitziest part of the UAE, which has seen an
oil-fuelled boom in property but has little oil of its own, is starting to see a slowdown. But some
welcome that as a way of reducing the number of foreign expatriates and re-establishing a
disappearing sense of national identity.br /strongIan Black, Middle East
editor/strong/ph2Venezuela/h2pHugo Chávez has reduced Venezuela's support for foreign allies
and is poised to make deeper cuts at home and abroad as plunging oil revenues hit his socialist
revolution. The government has warned of austerity measures after years of high spending on social
programmes, nationalisations, arms and diplomacy. South America's energy giant relies on oil for
half its exports and 95% of government revenue, leaving the president's ambitions vulnerable to a
crunch./pp"Oil revenues are the weapons he has been using to fight this war. He is going to have to
make big changes," said Pietro Pitts, of Latin Petroleum magazine. "He will have to cut spending,
or devalue the bolivar, or both."/ppChávez recently said Venezuela would ride out any
financial storm and that oil prices of $80 or $90 a barrel would be sufficient. This now looks
optimistic. With next year's budget in tatters, and foreign investment slowing, the government made
cuts even before the latest price fall. Last month it postponed construction of a $4bn refinery in
Nicaragua, a key ally, and announced tougher terms for subsidising oil exports to some Caribbean
countries./ppThe state oil company slashed spending on the social programmes which have underpinned
Chávez's popularity. Aid to Bolivia and Ecuador, and subsidised oil to Cuba, may be hit
next. The finance minister, Alí Rodríguez, said the 2009 budget "will have
significant restrictions" compared with this year's $63.9bn and officials would have to cut back on
luxuries./ppSome analysts think Venezuela can weather the crisis with the help of rumoured $40bn
reserves. But Venezuela is racked by 36% inflation, and previous governments crashed when oil
crashed.br /strongRory Carroll in Caracas/strong/pdiv style="float: left; margin-right: 10px;
margin-bottom: 10px;"ullia href="http://www.guardian.co.uk/business/oilandgascompanies"Oil and gas
companies/a/lilia href="http://www.guardian.co.uk/business/globaleconomy"Global economy/a/lilia
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href="http://www.guardian.co.uk/world/saudiarabia"Saudi Arabia/a/lilia
href="http://www.guardian.co.uk/world/iran"Iran/a/lilia
href="http://www.guardian.co.uk/world/venezuela"Venezuela/a/lilia
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href="http://www.guardian.co.uk/world/middleeast"Middle East/a/lilia
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width="1" height="1" //divpShoppers were lured back on to the high street yesterday as stores
slashed prices in an attempt to kickstart the vital Christmas trading period and shift unsold
stock./ppIn the annual game of chicken between consumers and stores, the retailers have blinked
first. There may still be 34 shopping days until Christmas, but over the past three weeks sales
have fallen off a cliff for many retailers. Faced with what some analysts have warned could be the
worst Christmas for 30 years as a result of falling house prices, rising unemployment and
rock-bottom confidence, retailers have already resorted to price cuts and promotions./ppIt was
Marks Spencer's decision to hold a one-day 20% off "spectacular"- for the first time in four years
- that prised many reluctant shoppers out of their homes and offices. /ppBut the shop windows in
the West End of London were plastered with posters promising bargains. Debenhams was in the middle
of a three-day 25% off sale and there were sale signs up in Jane Norman, Mexx, Clarks, H Samuel,
and Sir Philip Green's Arcadia Group chains, including Burton, Dorothy Perkins and Bhs./ppNew
figures from the Office for National Statistics suggested retail sales were proving unexpectedly
resilient. The ONS said sales dropped by just 0.1% in October, leaving them 1.9% higher than last
year. This was way ahead of forecasts in the City, where analysts had been predicting a slump of
0.9%./ppBut in recent months economists and retailers have repeatedly questioned the accuracy of
the ONS figures. Even the Bank of England has suggested the data should be treated with
caution./ppDavid Tinsley, an economist with nabCapital, predicted the official figures would soon
catch up with reality: "The figure will probably crash around November or December."/ppSurprise
sales can anger shoppers who have bought items at full price and yesterday some MS cust