Big Mac Price Index

Economist Big Mac's Price Index, thanks to Dody.

Gulf & Oil

According to a report, GCC states will increase by 75% in 2008 to reach $636 billion dollars! The report also projects that GCC's aggregate oil revenue for 2008 and 2009 to close $1.3 trillion dollars.
Good Money:)

Millionaires club

"The number of people around the world with at least $1 million in assets passed 10 million for the first time last year, according to a report. And their bank accounts are growing even faster.

The combined wealth of the globe's millionaires grew to nearly $41 trillion last year, an increase of 9 percent from a year before, Merrill Lynch & Co. and consulting firm Capgemini Group said Tuesday."

"The ranks of the wealthy are growing fastest in the developing economies of India, China and Brazil. The number of millionaires in India grew by about 23 percent." CNN

Its very interesting how BRIC economies were performing in the past decade.

"The economies of the BRICs are rapidly developing and by 2050 will eclipse most of the current richest countries of the world." Goldman Sachs thesis said.

$135 Dollars a barrel

"It was of course an earlier "oil crisis" in the 1970s which prompted Brazil to embark on an energy policy for which it is now famous, the mass production of biofuels for cars.

This alcohol, made from sugar cane, is widely available at garages across Brazil.

More than nine in 10 new vehicles here can now run on both alcohol derived from sugar cane or petrol. In 2007, Brazil produced 22bn litres of ethanol."

"Nigeria is the eighth largest exporter of crude in the world.

For every barrel of oil sold, $59 goes to the national budget, the rest goes into an account in the Central Bank.

Record oil prices mean that stock of cash now stands at $12bn." BBC

Soros warns global boom is over

Soros, the man that have made $1bn in September 1992, betting correctly that the British currency would have to be devalued and leave the European Exchange Rate Mechanism warned during an interview with the BBC.

"'Financial bubble' of the last 25 years could be drawing to an end and the post World War II "super-boom" era could also be over." Soros warned.

"oil and other commodities are over-priced, but he sees little chance of the price of oil coming down until there is a big slowdown in the richer economies."

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