Do Oil Prices influence Non-Oil Sector Stocks in Saudi Arabia Research Paper - 1

Do Oil Prices influence Non-Oil Sector Stocks in Saudi Arabia - Research Paper Example Oil is one of the most important economic resources in global economy today. Fluctuations and shocks in oil prices have been studied extensively by many leading economists. Several economic theories point to the impact of changes in oil price on other commodities as well as in the world economies. The context of oil is even more important in the Saudi Arabian economy as it is has one of the biggest reserves of oil (one-fifth of world’s total) and is the second largest producer (behind Russia) of oil in the world. Saudi Arabia has proven oil reserves of 264.52 billion barrels of oil and recently surpassed by Venezuela who claimed their oil reserves had risen to 269.5 billion barrels of oil. In terms of oil production, Saudi Arabia has a quota allocation of just over 30% of production among Organisation of the Petroleum Exporting Countries (OPEC) countries. The Saudi Arabian oil production in 2010 was 9.1 million barrels per day which accounted for 13% of world’s total oi l production. Oil is the major driver of economic activity in Saudi Arabia. Oil related activities accounted for 47% of the GDP in 2010, and petroleum products exports amounted to $193 billion and accounted for 84% (by value) of total exports in Saudi Arabia. Therefore, oil prices play a vital role in the Saudi Arabian economy. However, from the perspective of an investor or an enterprise in Saudi Arabian market, it is also important to know whether oil prices have a major role to play in stock prices of non-oil sector companies too. ... Fluctuations and shocks in oil prices have been studied extensively by many leading economists. Several economic theories point to the impact of changes in oil price on other commodities as well as in the world economies. The context of oil is even more important in the Saudi Arabian economy as it is has one of the biggest reserves of oil (one-fifth of world’s total) and is the second largest producer (behind Russia) of oil in the world. Saudi Arabia has proven oil reserves of 264.52 billion barrels of oil (OPEC, 2011) and recently surpassed by Venezuela who claimed their oil reserves had risen to 269.5 billion barrels of oil. In terms of oil production, Saudi Arabia has a quota allocation of just over 30% of production among Organisation of the Petroleum Exporting Countries (OPEC) countries. The Saudi Arabian oil production in 2010 was 9.1 million barrels per day which accounted for 13% of world’s total oil production. Oil is the major driver of economic activity in Sa udi Arabia. Oil related activities accounted for 47% of the GDP in 2010 (MoF, 2011), and petroleum products exports amounted to $193 billion and accounted for 84% (by value) of total exports in Saudi Arabia (OPEC, 2011). Therefore, oil prices play a vital role in the Saudi Arabian economy. However, from the perspective of an investor or an enterprise in Saudi Arabian market, it is also important to know whether oil prices have a major role to play in stock prices of non-oil sector companies too. If there is a high positive correlation between oil prices and non-oil sector stocks, an investor can use these stocks to hedge on their investments in oil. The outcome of this study could therefore be very useful for foreign investors and enterprises already present or planning to enter the Saudi

10 page Term Paper of an amendment to the United States Constitution

10 page of an amendment to the United States Constitution - Term Paper Example The legislative branch (Congress) which has the powers to make laws, the executive branch (which is represented by president, as well as his advisors,) of which has the power to apply the laws, and lastly the judiciary branch (i.e. the supreme as well as other federal courts) which has the power to reverse or dismiss laws that it decides are unconstitutional. Immediately after America won independence from Great Britain with its victory in 1783, during the American Revolution, it became evident that the newly formed nation was in need of a strong central government to remain stable. In 1786, a lawyer as well as a politician from New York by the names of Alexander Hamilton called for a discussion on the matter of a constitutional convention. In February 1787, the legislative body of the confederation supported the idea and invited all the 13 states to have their delegates meet in Philadelphia (A&E, 2014, 1). However, after the creation of the new constitution, it remained vague because that was the main intention of the constitution, so that with time the constitution would grow which in turn would solve many of United States’ current problems that the forefathers could not predict. The constitution’s first ten amendments are collectively referred to as the Bill of rights. The bill of rights ranks alongside the declaration of Independence as well as the constitution as one of America’s most treasured documents. The bill of rights was projected in order to appease the fears of the anti-federalists who opposed the constitutional approval. The bill of rights was fashioned exclusively to guarantee the individual rights and freedoms of citizens under the constitution of which included the first 10 amendments. The bill of rights was also reserved for definite powers to the states and the public, and limited the governments authority in judicial and other proceedings (Carey, 2003, 1). In addition, while the amendments were only initially

Introduction to Law and Economics Essay Example | Topics and Well Written Essays - 1000 words

Introduction to Law and Economics - Essay Example In the light of this fact, Jennifer John-Yar Bukrs’ critique of health care funding and the notions of the privatization of health care assume a whole new meaning in the sense that even while affiliating to the provisions of the Canada Health Act 1984, it is viable and possible to make the system more efficient and equitable by resorting to an affordable and efficient privatization of the delivery of the health care services, thereby sparing resources that could be spent on other social imperatives like education and infrastructure. The way the Canada’s health care system is burgeoning, it is bound to take a toll on the government spending on other social welfare programs (Armstrong & Armstrong, 2008). The rate at which health care costs are augmenting, it is getting quite evident that the territories and the provinces will need to allocate a significant portion of the budgets to healthcare, to the detriment of other areas like infrastructure, education and social welfa re. If one considers a 25 year horizon, the Canadian healthcare system is simply not sustainable unless a significant portion of the healthcare delivery is privatized to make the system more efficient (Armstrong & Armstrong, 2008). When it comes to the standards of health care, Canada tends to stand amongst some of the top nations of the world. Yet, equity in healthcare is an issue that is gaining marked relevance in the current debates on health care. The high standards of health care that are extended by the Canadian health care are not accessible to all sections of the Canadian society. Though there are scarce financial barriers to health care in Canada, there do exist cultural and language barriers to health care in the nation (Armstrong & Armstrong, 2008). Thereby if the healthcare system in a nation is not able to facilitate an equitable access, this further augments the social barriers. In that context, the privatization of some specific aspects of the healthcare will readily help ameliorate the inequities existing in the health care system. Irrespective of the inefficiencies creeping into the health care system the salient aspect of the Canadian health care that makes it stand high above many other nations is the fact that Canada tends to view access to healthcare as a right and not a commodity (Armstrong & Armstrong, 2008). However the irony is that the right to health care is becoming such a gargantuan onus that it is impinging on the extension and provision of many other rights like education and social welfare. Thereby a partial and efficiency oriented privatization of the delivery if not funding of the health care services could act as a viable way to divert more resources to other social imperatives. The nature of the health care in Canada is to a large extent imminent on the criterion resorted to for determining efficiency. However, in a pragmatic context the efficiency in health care ought to be determined on the basis of the amount of resource s and funding dedicated to the cause of healthcare to the quantum of services accrued and the volume of improvements facilitated in the health care system. In that context efficiency needs to be the determining factor in deciding as to the aspects of the heath

Domain Names as Internet Properties Essay Example for Free

Domain Names as Internet Properties Essay What are your long term plans for your domain name? Do you expect to convey the name and the goodwill associated with it to an interested buyer or bequeath it your heirs? Perhaps you intend to use the domain name to secure a loan for a business expansion or for your childs college tuition. You may be in for a surprise. The intellectual property community asserts that domain names, as source indicators, are akin to trademarks. However, trademark law cannot be effectively grafted on to domain names because of the discrepancies over geographical boundaries and context-sensitive use. In order for a trademark registration to issue, the mark must be used in interstate commerce to identify the source of a class of goods or services. Identical trademarks can co-exist so long as they are associated with non-competing types of goods or services or are used in different geographic areas. Domain names are registered on a first-come, first-served basis. The first individual or company to complete the registration template for an available name gets the sole right to be associated with it. For a reasonable fee, currently hovering at $10 a year, the registrant can brand and propagate the name in a worldwide marketplace. The registrant receives the exclusive right to use that name for a website presence, global e-mail, and network file transfers. But every domain name must be unique, and it is this technical requirement that makes domain names potentially valuable resources which are substantively different from trademarks. Compaq Computer Corp paid $3. 35 million in July 1998 for rights to ALTAVISTA. COM, purchased from a California start-up called Alta Vista Technology. The transaction included existing traffic of a half million visitors a day who were already expecting to find the Alta Vista search engine at that domain name. As the price bar for domain names rises, NSIs customers may resist being subject to the vagaries of the registrars feudal regime. Simple and unencumbered ownership endows the registrant with a type of predictable, if limited, sovereignty. Through legislation and judicial acknowledgment, registrants who meet certain individual responsibilities should be allowed a perpetually renewable and assignable right to enjoy this new source of wealth. Many domain names have become the cornerstone of multimillion-dollar business plans. In the fall of 1999, VirtualVineyard of Palo Alto, California, acquired Wine. Com of Napa, primarily for its domain name. While the $3. 3M-plus acquisition included an operating business, the CEO of Wine. Com estimated that about 70 percent of his companys value was its name. The current controversies over domain names highlight the interplay of technology, law, economics and politics. Court opinions trail societys changes and conundrums resulting from technology of recent vintage. Yet, nearly everyone agrees on one point: domain names are caught in a legal thicket. If domain names are property, then existing contracts such as NSIs harsh Service Agreement must be rewritten. Although the implications of the Umbro decision are yet to be fully assessed, and NSIs appeal remains to be heard, the magistrate recognized that each knotty domain name dispute before the court may be breaking new legal ground. References Unknown (1999). Mortgages for domain names. BBC Sci/Tech News. Retrieved November 26, 2006 from http://news. bbc. co. uk/2/hi/science/nature/533455. stm Oppedahl, C. (1997). Remedies in Domain Name Lawsuits: How is a domain name like a cow? Patents. com. Retrieved November 26, 2006 from http://www. patents. com/pubs/jmls. htm

Inherit The Wind Essay -- essays research papers

Brady and Drummond, two former partners, beginning their legal lives working together. Now each one strives to be superior, confident in their ways and beliefs, trying to out-do the other. Despite a common goal, the two gradually became very different people, as is evident in the play and movie,Inherit the Wind. Throughout the years, as each one fought cases, established a name for themselves, and gained popularity (or notoriety), they kept a careful watch on the other. Learning of the others triumphs, which pushed them to try even harder, become more set in their ways, believing that their heterogeneous beliefs were right, and that if they kept those beliefs the focus of their existence, they could eventually prove themselves the victor. Yet the two had never met head-on in court. They both knew that until so, everything they did, every case they fought and one, would only be a form of practice, and a silent taunt at their foe. But until they truly fought together in court, this two man war would never be over. Thus, when the time finally arrived, when the two ingenious legal warriors who had trained together met at last for that one final battle to the death, they entered Hillsboro planning to put every single legal idea and tactic they had used and believed in over the years to work, believing that they had followed the correct path and that their long thought over battle plan was superior to the other’s. Brady loved the public. He knew that, even before the time of radio and television, if he controlled the media, he controlled the masses. Thus, his first move every time was to choose the side which the public sided with, knowing that people listened to what they wanted to hear, which would be him, so he would essentially become the media. And thus, he would create a flock of loyal followers. And with the public behind him, a case was usually much simpler. Besides, he loved being adored by people. He relied upon public approval and easy answers for legal guidance, as was evident when, upon hearing some of his former admirers turn to Drummond’s side, he broke down in tears. He enjoyed using the people as a weapon. Upon hearing the news of Drummond being appointed as the defense, he quickly realized a chance to gain the upper hand in the battle he had been preparing for his entire life. Before the townspeople had even met Drummond, he... ...portant battle for free speech, and man’s right to think. Brady, on the other hand, when faced with the revival of his seemingly unstoppable foe and a major setback for which he had not planned, instead of handling it in a sophisticated manner, as Drummond did, fell to pieces. He became flustered and began looking for pity in what was left of his flock of ignorant followers upon seeing part of his legal empire crumble and collapse. As he scrambled to pick up the pieces, he lost more and more until he was left with only a shred of his former greatness. Even after he had been declared the winner (though he knew that, in reality, Drummond had been the one who truly emerged victorious from this brawl of words and law), he fought to regain his once loyal group of admirers, as he watched many of them walking out of the courtroom door, their backs turned upon him. He screamed over the din, trying to regain something, anything, he once had. And all this only took from him the one thing he still had left... the steady beating of a human heart. And Drummond, Bible and Darwin in hand, was the only one of the two extremely different ex-partners to walk out of the courtroom that day.

Railroads in Hamlet Essay -- American History Hamlet North Carolina Pa

Railroads in Hamlet Hamlet. By definition, a hamlet is a small, desolate town, with less people than a village. In 1931, the town of Hamlet, North Carolina did not fit this description. It in fact was a bustling town full of varied industry and agricultural projects, as depicted in a newspaper article from the Raleigh News and Observer in 1931. In this article, Hamlet is described as being anything but a small, desolate town, showing its importance mainly being in the railroad industry. Though the descriptions in the article, it is easy to see what an important place Hamlet was in 1931 for the Railroad industry. In the 1920’s, the country was experiencing â€Å"the most explosive decade of the century,† or, as it has been called, â€Å"The Roaring Twenties† (Wang). Everything great was happening for the country in everything from music to politics and fashion to the stock market. That was until one ‘Black Thursday’ on October 24, 1929 when the stock market crashed (Wang). This started what is now commonly known as The Great Depression. Jobs were lost, people starting starving, suicide was attempted, and the country just started coming to a halt with people being too worn out and depressed to do much of anything. The country stayed this way for almost ten years. It would not be until many years later that Franklin Roosevelt would put in place the New Deal and turn the country back around (Wang). But, through all the stresses and hard times the country was facing, Hamlet seemed to prosper, growing in population size and industrial importance (Hamle t). In 1900, 4000 miles of railroads crossed over North Carolina in many directions (Trelease 32). The expansion of the railroad system did so much for Nort... ...ked like back then. Also, a great history of Hamlet is given. This article clears up some misconception of the doom and glom lifestyles that are always associated with the Great Depression. Lastly, this article teaches the lesson of never giving up even when the odds are against you. If you close your eyes and listen, you can almost see the train coming and hear the whistles blowing. Works Cited â€Å"Hamlet: Important Agricultural Outlet Has Its Own Varied Industries.† News and Observer 20 Dec. 1931 no edition or page number known. Shelton-Roberts, Cheryl. â€Å"The Hamlet Railroad Station.† Our State Jan. 1999: 41-44. Trelease, Allen. â€Å"Railroads in North Carolina, 1900.† Tar Heel Junior Historian Fall 1999: 32-33. Wang, Henru, Chris Gotterba, and Jeff Wu. â€Å"The 1920’s Experience.† 24 Apr. 2002.

Thoughts on a Democratic England

AbstractThis paper discusses the development of democracy in England, specifically addressing the interaction between parliament, capitalists, and the masses during the early nineteenth century, and how these interactions lead to a more democratic England; however, the focus will be on entertaining the theory ‘What else could have heralded Democracy during this time?’ Thoughts on a Democratic EnglandThe early nineteenth century saw England at the cusp of a radical change, socially, politically, and economically. The advent of the Industrial Revolution had drastically transformed the mental and physical landscapes of the time; factories were sprouting left and right, people were flooding into the cities to work, and entrepreneurs kept the thriving businesses alive. Gradually the topic of Human rights arose, and cities clamored for representatives in Parliament, while the idea of universal suffrage arose, men voicing out desires to vote in order to improve the condition of life.As history shows, after much conflict – riots, deaths, political upheavals- the internal tension in the nation gave way to a greater amount of freedom and Democracy among the citizens. But what if these internal forces had not simmered and seethed, causing uproar and promoting change like they did? Would the outcome then have been similar? Let us examine the conditions of the time, and assess whether present forces of that day could have instigated change, as the conflict between social classes did.The first and seemingly obvious alternative would be a Revolution. During that time –the early 19th Century- the memories of both the French and the Irish (against the English) Revolutions were still fresh in men’s minds; this coupled with the inequities prevalent in the new, Industrialized society, would have galvanized rebellion and caused men to bear arms against the Capitalists who coveted the lion’s share of the profits as well as the Parliament, who denied men representation, votes, and a say in the great scheme of things.The second alternative would be Education. This was a time when newspaper and the printed page thrived. Aside from news, many works of entertainment were printed in the weekly papers, by writers such as Charles Dickens. The Literacy rate was increasing, and as people were no longer scattered but concentrated in the cities, thus quickening the dissemination of information, the Media could, theoretically, have spearheaded a movement for change.Inevitably though, these two alternate theories would have eventually coincided with the ideas which opened this paper, namely Social Conflict. For Democracy ultimately dwells in the hearts and minds of men, and, as such, all socio-political and economic movements begin and end in the realm of social strife.