2008 Insight

It has been a year when whole world will remember with historic events taking place from US Economic crisis to Mumbai 26/11 attacks to Israel/Hamas war. All these events have dominated whole of the year. First half of year was all about US Economic crisis which gave world jitters and analysts say that the worst is yet to come just imagine what is going to happen in 2009. US has been severally hit as most of its top investment banking companies (Lehman brothers) went bankrupt or merged then followed insurance companies(AIG) followed by the Automobile industry which is almost in dying state begging White house to bail them out.The most worrisome factor of all is the US unemployment rate which is now at 6.5 % is rising steadily.The ripple effect of US economic crisis went allover the globe sparing no country with some of the countries(Iceland,Pakistan) went bankrupt.World Bank says 2009 will be most crucial and expects the economic power shift from North America/Europe to China/India/Asia.Its has been a recession year for US/Europe/Japan where as all Asian economies are faring below than expected rate.If we put aside the World economy other factor which has dominated and is of concern is terrorism.The countries which are most effected from terrorism are Iraq,Pakistan,India.US/Bush foreign policy has to be blamed for rise of militancy in Iraq/Afghanistan/Pakistan which has spilled over India and Mumbai 26/11 attacks just proves how badly South-Asia has been effected by terrorism.Middle eastern crisis had also came into limelight with Iran President calling all its Muslim neighbours to group-up in wiping out Israel of the map.Israel-Hamas war is still continuing with Israel vowing to topple Hamas administration.Technology side Google continues to flex its muscle as a leading IT contender and Microsoft still maintining its strong position inspite of Lukewarm response to Windows Vista but news about its plan to Lay off its employees to maintain its profits is a cause of concern for the IT Industry.For India Satyam Computers has given rude shock to its investors in unfair practice of aquiring its family owned Maytas-Infrastructure.This move from the company was backfired from shareholders and demanded an enquiry as its sharevalue came down by 30 percent .Entertainment Industry particulary for Bollywood 2008 has been a above average year with couple of decent hits.Movie of the year in terms of box office revenue is Ghajini which is creating records almost every where thanks to Aamir Khan screen presence,director Murugadoss tight screenplay and producer Allu Aravind marketting strategy is sure to cross 100 crores gross by end of this week.Thats all for 2008 there are lot more to write but will take some other opportunity to present them with that I am ending this blog and wishing u a Happy and Prosperous New year 2009 !....Good Bye