Saudi billionaire prince Alwaleed bin Talal has warned global demand for the kingdom’s oil is dropping, urging revenue diversification and investment in nuclear and solar energy to cover local consumption.
In letters to officials and published on Sunday on his Twitter account, King Abdullah’s nephew warned that it was alarming that “92 percent of the government budget relies on oil”.
“The world’s reliance on OPEC oil, especially the production of Saudi Arabia, is in a clear and continuous drop,” he wrote in letter addressed to oil minister Ali al-Naimi.
He said the threat from shale gas is “definitely coming”, pointing to progress in that sector in North America and Australia. Read More
Google has just jacked the whole print media ad business. amazing times we live in nephew.
We have played with the numbers a little bit and found an interesting piece of information that nicely illustrates how ad markets have changed in the past decade: in the first six months of 2012, Google raked in $20.8 billion in ad revenue, while the whole U.S. print media (newspapers and magazines) generated $19.2 billion from print advertising. That is, Google, a company founded 14 years ago, makes more money from advertising than an industry that has been around for more than a hundred years
Shiv Sena patriarch Bal Thackeray, who was critically ill for the past few days, passed away at his residence ‘Matoshree’ in suburban Bandra on Saturday. He was 86.
“He had suffered a cardiac arrest. We could not revive him despite our best efforts. He breathed his last at around 3:30 pm,” Dr Jalil Parkar, who treated the Sena chief, told reporters after emerging from Mr. Thackeray residence this evening.
Mr. Thackeray had been suffering from respiratory problems and pancreatic disease. He is survived by sons Jaidev and Uddhav, who is the Executive president of the party.
Senior party leaders and Bal Thackeray’s nephew Raj Thackeray along with family members and other political leaders rushed to ‘Matoshree.’
Meanwhile, security has been stepped up in the metropolis in the wake of Mr. Thackeray’s death. The police also made the mediapersons move to a distance from Matoshree.