Word: pricing
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...about the Olympic Games. It's about valuing individual human lives. The contrast with Burma's reaction to its recent cyclone is staggering. This is no reflection on the Burmese people, but a disgraceful reproach to the rulers who cling to power at whatever price, even the sacrifice of their own citizens. Jenny Evans, Bundaberg, Queensland...
Despite these strong fundamentals, Iceland has undoubtedly lost some steam - and importers feel it the worst. Úlfar Steindórsson, CEO of Toyota Iceland, says that the depreciated krona raised the price of imported cars by 25% in just a matter of weeks, bringing his booming sales to a standstill. He now predicts year-on-year revenues will end 30% lower. But Steindórsson doesn't blame the government or Iceland's banks. "The crisis didn't start in Iceland - it started in the U.S.," he says. As he sees it, the international dimension of the credit crunch...
...meantime, there are more immediate economic minefields to navigate. Inflation, for example, is surging in cities like Doha and Dubai, driving up the price of everything from food to office space. Nobody is hurt more than the Gulf's millions of ill-paid migrant workers, and this exacerbates the danger of growing labor unrest. One measure that Gulf countries are considering to dampen inflation: a dismantling of the peg that ties their currencies to the beleaguered U.S. dollar...
Another key to sustaining the boom is to diversify the Gulf's economy so it's not so narrowly dependent on high energy prices. In the U.A.E., for example, as much as 40% of the country's GDP comes from the production of oil and natural gas. Of course, it's hard to find people these days who think the price of oil is set to plunge, but a deep recession in the developed world - led by the gas-guzzling U.S. - could lessen demand and drive the price down more sharply than many expect...
Putting a Price on Human Life...