Showing posts with label United Kingdom. Show all posts
Showing posts with label United Kingdom. Show all posts
February 5, 2013
Cool Unicorn, Bruv!
OK, now this very short film (less than two minutes) is rather funny and something you should watch. :)
August 6, 2011
"Muslamic Ray Guns"
Now, to get full enjoyment from the second video, you should watch the first video first. This first video is a brief interview with some EDL skinhead done by Press TV and was originally aired on March 9, 2011.
Now, allegedly, this guy is complaining about "Muslim rape gangs," but it comes out garbled as "Muslamic ray guns." :) Enjoy!
Now, allegedly, this guy is complaining about "Muslim rape gangs," but it comes out garbled as "Muslamic ray guns." :) Enjoy!
June 13, 2010
Robert Green, Meet David Seaman (and Bill Buckner)
The British may have left Singapore years ago (in 1976, to be exact), but that doesn't mean that Singaporeans don't wish they were British. British influence and culture is deeply pervasive here, and no where is that more apparent than in the Singaporean addiction to the English Premier League. So it was hardly a surprise to see Robert Green's blunder in the World Cup match against the United States on the front pages of various newspapers here.
I don't know if anyone else has made the comparison, but Green's screw-up reminded me of David Seaman missing Ronaldinho's free kick in England's 2002 World Cup match against Brazil.
For my soccer-illiterate compatriots back in the United States, these momentary lapses in concentration are similar to that made by Bill Buckner of the Boston Red Sox back in the 1986 World Series.
I don't know if anyone else has made the comparison, but Green's screw-up reminded me of David Seaman missing Ronaldinho's free kick in England's 2002 World Cup match against Brazil.
For my soccer-illiterate compatriots back in the United States, these momentary lapses in concentration are similar to that made by Bill Buckner of the Boston Red Sox back in the 1986 World Series.
July 3, 2009
Islam/Muslim Blogs (3 July 2009)
Sometimes I feel lucky just to get one of these links posts done, ya know? ;) This particular subject (Islam/Muslim Blogs) is by far the most popular of all my links posts; what was interesting was that last week's post got some serious attention: a total of 17 hits from two different computers at the US State Department.
Austrolabe: Burka Ban: Not Just Black and White
Bin Gregory Productions: Wild Honey
Dr. Maxtor's Analysis: France's Mossad midget doth protest a bit too much...
Fragments of Me: Hijab Friendly
Fragments of Me: Natural Remedies
Grande Strategy: Are Non-Muslims Infiltrating Muslims? (I'm not sure I'd call it infiltration, but it does sound like the woman hasn't quite accepted the Muslim virtue of public modesty.)
Islam and Science Fiction: A Mosque Among the Stars (This is more of a website than a blog, but I discovered it yesterday. The Muslim brother who runs this website co-edited a science fiction anthology of stories written by Muslims and positive stories about Muslims and Islam by non-Muslims.)
Islamic Art by Morty: ALLAH Caligraphy Art in Arabic and English
A setback in the struggle against the Islamification of the West
Islamophobia Watch: Antwerp protests against schools' headscarf ban (Some very good comments by the students in this article.)
Islamophobia Watch: Muslims in Europe: The Scottish Example (An interview with Osama Saeed.)
Islamophobia Watch: Veil is 'a direct and explicit criticism of our Western values' (Have you ever noticed that when non-Muslims talk about Israel/Palestine, it's always a "religious" conflict, but when they talk about the hijab it's always a "political" issue? No wonder they're @$$-backwards.)
Islamophobia Watch: More Hysteria About Sharia Courts (Dennis MacEoin returns; will someone send him back? ;) )
Islamophobia Watch: The hijab debate: 'I don't want to be judged on my looks'
Izzy Mo's Blog: انا مشغولة (Izzy Mo finally gets a life. ;) )
The Zen of South Park: Quran Read-A-Long: Al-’Imran 55-63 Insists on Jesus’ Humanity, Not His Divinity
Umar Lee: Death
News Stories of Interest:
Muslims Not Just Concerned About US Policy: Envoy (Perhaps this woman, Farah Pandith, is the reason why we got all the attention from the State Department last week.)
Pastor Rick Warren to Address American Muslims
Austrolabe: Burka Ban: Not Just Black and White
Bin Gregory Productions: Wild Honey
Dr. Maxtor's Analysis: France's Mossad midget doth protest a bit too much...
Fragments of Me: Hijab Friendly
Fragments of Me: Natural Remedies
Grande Strategy: Are Non-Muslims Infiltrating Muslims? (I'm not sure I'd call it infiltration, but it does sound like the woman hasn't quite accepted the Muslim virtue of public modesty.)
Islam and Science Fiction: A Mosque Among the Stars (This is more of a website than a blog, but I discovered it yesterday. The Muslim brother who runs this website co-edited a science fiction anthology of stories written by Muslims and positive stories about Muslims and Islam by non-Muslims.)
Islamic Art by Morty: ALLAH Caligraphy Art in Arabic and English
A setback in the struggle against the Islamification of the West
Islamophobia Watch: Antwerp protests against schools' headscarf ban (Some very good comments by the students in this article.)
Islamophobia Watch: Muslims in Europe: The Scottish Example (An interview with Osama Saeed.)
Islamophobia Watch: Veil is 'a direct and explicit criticism of our Western values' (Have you ever noticed that when non-Muslims talk about Israel/Palestine, it's always a "religious" conflict, but when they talk about the hijab it's always a "political" issue? No wonder they're @$$-backwards.)
Islamophobia Watch: More Hysteria About Sharia Courts (Dennis MacEoin returns; will someone send him back? ;) )
Islamophobia Watch: The hijab debate: 'I don't want to be judged on my looks'
Izzy Mo's Blog: انا مشغولة (Izzy Mo finally gets a life. ;) )
The Zen of South Park: Quran Read-A-Long: Al-’Imran 55-63 Insists on Jesus’ Humanity, Not His Divinity
Umar Lee: Death
News Stories of Interest:
Muslims Not Just Concerned About US Policy: Envoy (Perhaps this woman, Farah Pandith, is the reason why we got all the attention from the State Department last week.)
Pastor Rick Warren to Address American Muslims
May 14, 2009
Links for 14 May 2009
Politics:
What Obama Means when he says "the troops" ("People keep telling me that America is a better place since 20 January 2009. As with the claims of economic recovery 'right around the corner,' there is precious little evidence.")
Countdown's Worst Person: Your Not So Grass Roots Are Showing
RNC having special session to brand the Democratic Party 'Socialists' (I'll accept the "socialist" moniker as long as we can call the Republicans "Nazis.")
C&L's Late Night Music Club with Yusuf Islam (The website Crooks & Liars does a nightly music video, with tonight's video being Yusuf Islam's Peace Train.)
Daily Show's Jason Jones explores ASU's pristine academic environment (As an alumnus of Arizona State twice over (Bachelors and Masters), I find Jones' humor lame. As anyone remotely affiliated with the university would know, that's not the library. And the students he interviewed strike me as fraternity/sorority types; you know, not exactly the brightest bulbs on campus. BTW, Jason, what university did you graduate from? Ryerson University? Where's that?)
Did You Have Your Bowl of Cholesterol Drugs This Morning? (An interesting story developing between the FDA and General Mills: the way in which Cheerios, the breakfast cereal, is being marketed has caused the FDA to declare the cereal a drug. "General Mills may not legally market Cheerios unless it applies for approval as a new drug or changes the way it labels the small, doughnut-shaped cereal, the FDA said.")
GOP icon declares his party "brain dead" (The rest of us already knew this...)
Economics:
The Renminbi as the Reserve Currency? (There's an interesting thought! Not that it would happen anytime soon...)
China Expands Global Role
Islam/Muslim Blogs:
Of Life and Star Trek and Sex Education (Rozas' take on a conversation between some teenage Malay girls is rather interesting.)
The BNP is a threat to every Muslim
Just one in eight terror arrests ends with guilty verdict, admits Home Office
Miscellaneous:
A Space Shuttle Before Dawn (The space shuttle Atlantis, sitting on Launch Pad 39A, back in April, as it was being prepared for its launch a few days ago. Cool pic.)
INTERVIEW: C.J. Cherryh (CJ Cherryh is one of my favorite SF authors; she recently gave a brief interview in connection with her new novel, Regenesis, which is a sequel to her 1988 novel, Cyteen. Good news!)
382 – Two Eggs and a Kidney: Regional World Cities (Strange Maps is a blog I've been reading for quite a while now; check it out if you're unfamiliar with it. With respect to this map, I'm a little surprised LA isn't considered at least a major regional center, as Singapore and Hong Kong are. These latter two cities (S'pore and HK) do seem to be mirror images of each other in terms of being major regional centers, but I would expect people from Sydney might argue about whether they or S'pore has more influence in the southern half of the Asia and Oceania map.)
What Obama Means when he says "the troops" ("People keep telling me that America is a better place since 20 January 2009. As with the claims of economic recovery 'right around the corner,' there is precious little evidence.")
Countdown's Worst Person: Your Not So Grass Roots Are Showing
RNC having special session to brand the Democratic Party 'Socialists' (I'll accept the "socialist" moniker as long as we can call the Republicans "Nazis.")
C&L's Late Night Music Club with Yusuf Islam (The website Crooks & Liars does a nightly music video, with tonight's video being Yusuf Islam's Peace Train.)
Daily Show's Jason Jones explores ASU's pristine academic environment (As an alumnus of Arizona State twice over (Bachelors and Masters), I find Jones' humor lame. As anyone remotely affiliated with the university would know, that's not the library. And the students he interviewed strike me as fraternity/sorority types; you know, not exactly the brightest bulbs on campus. BTW, Jason, what university did you graduate from? Ryerson University? Where's that?)
Did You Have Your Bowl of Cholesterol Drugs This Morning? (An interesting story developing between the FDA and General Mills: the way in which Cheerios, the breakfast cereal, is being marketed has caused the FDA to declare the cereal a drug. "General Mills may not legally market Cheerios unless it applies for approval as a new drug or changes the way it labels the small, doughnut-shaped cereal, the FDA said.")
GOP icon declares his party "brain dead" (The rest of us already knew this...)
Economics:
The Renminbi as the Reserve Currency? (There's an interesting thought! Not that it would happen anytime soon...)
China Expands Global Role
Islam/Muslim Blogs:
Of Life and Star Trek and Sex Education (Rozas' take on a conversation between some teenage Malay girls is rather interesting.)
The BNP is a threat to every Muslim
Just one in eight terror arrests ends with guilty verdict, admits Home Office
Miscellaneous:
A Space Shuttle Before Dawn (The space shuttle Atlantis, sitting on Launch Pad 39A, back in April, as it was being prepared for its launch a few days ago. Cool pic.)
INTERVIEW: C.J. Cherryh (CJ Cherryh is one of my favorite SF authors; she recently gave a brief interview in connection with her new novel, Regenesis, which is a sequel to her 1988 novel, Cyteen. Good news!)
382 – Two Eggs and a Kidney: Regional World Cities (Strange Maps is a blog I've been reading for quite a while now; check it out if you're unfamiliar with it. With respect to this map, I'm a little surprised LA isn't considered at least a major regional center, as Singapore and Hong Kong are. These latter two cities (S'pore and HK) do seem to be mirror images of each other in terms of being major regional centers, but I would expect people from Sydney might argue about whether they or S'pore has more influence in the southern half of the Asia and Oceania map.)
Labels:
American politics,
Arizona State University,
Barack Obama,
China,
Countdown,
Daily Show,
Links,
NASA,
Republicans,
Science Fiction,
Sex,
Singapore,
Space Exploration,
Terrorism,
United Kingdom
February 12, 2009
Petroleum and Natural Gas Proved Reserves, 2009, Top 10
This is an annual post; the data is only updated annually. For the 2008 data, please click here.
The Energy Information Administration, a department of the U.S. Department of Energy, has recently released the January 1, 2009 proved reserves for petroleum and natural gas. Proved reserves are the amount of oil and gas in the ground that is "reasonably certain" to be extracted using current technology at current prices. The following are lists of the top ten countries for petroleum and natural gas proved reserves, with their quantities and percentage of the world total for 2009:
Petroleum - Billion Barrels
1. Saudi Arabia - 266.710 (19.87%)
2. Canada - 178.092 (13.27%)
3. Iran - 136.150 (10.14%)
4. Iraq - 115.000 (8.57%)
5. Kuwait - 104.000 (7.75%)
6. Venezuela - 99.377 (7.40%)
7. United Arab Emirates - 97.800 (7.29%)
8. Russian Federation - 60.000 (4.47%)
9. Libya - 43.660 (3.25%)
10. Nigeria - 36.220 (2.70%)
Notes:
Natural Gas - Trillion Cubic Feet
1. Russian Federation - 1,680.000 (26.86%)
2. Iran - 991.600 (15.85%)
3. Qatar - 891.945 (14.26%)
4. Saudi Arabia - 258.470 (4.13%)
5. United States - 237.726 (3.80%)
6. United Arab Emirates - 214.400 (3.43%)
7. Nigeria - 184.160 (2.94%)
8. Venezuela - 170.920 (2.73%)
9. Algeria - 159.000 (2.54%)
10. Iraq - 111.940 (1.79%)
Notes:
The Energy Information Administration, a department of the U.S. Department of Energy, has recently released the January 1, 2009 proved reserves for petroleum and natural gas. Proved reserves are the amount of oil and gas in the ground that is "reasonably certain" to be extracted using current technology at current prices. The following are lists of the top ten countries for petroleum and natural gas proved reserves, with their quantities and percentage of the world total for 2009:
Petroleum - Billion Barrels
1. Saudi Arabia - 266.710 (19.87%)
2. Canada - 178.092 (13.27%)
3. Iran - 136.150 (10.14%)
4. Iraq - 115.000 (8.57%)
5. Kuwait - 104.000 (7.75%)
6. Venezuela - 99.377 (7.40%)
7. United Arab Emirates - 97.800 (7.29%)
8. Russian Federation - 60.000 (4.47%)
9. Libya - 43.660 (3.25%)
10. Nigeria - 36.220 (2.70%)
Notes:
- The world total of proved reserves is 1,342.207 billion barrels of petroleum, an increase of 10.164 billion barrels over 2008's total (a 0.76% increase).
- The total of the top ten countries makes up 84.71% of the world's proved reserves.
- Venezuela was the only country to move up in the rankings, having placed seventh in 2008; the United Arab Emirates dropped one place, to seventh.
- Canada's proved reserves are estimated to be 5.4 billion barrels of conventional crude oil and 173.2 billion barrels of oil sands reserves. (Oil sands are much more costly to refine than conventional crude oil.)
- Two countries had singificant increases in their amounts of crude oil proved reserves in 2008: Venezuela, with an increase of 12.342 billion barrels, and Libya, with an increase of 2.196 billion barrels. Ten other countries also had increases in their proved reserves as well; however, the highest amount of any of the ten was 442 million barrels (Brazil).
- Two countries had significant depletions in their amounts of crude oil proved reserves in 2008: Iran, with a decrease of 2.250 billion barrels, and Mexico, with a decrease of 1.149 billion barrels. Thirteen other countries also had decreases in their proved reserves.
Natural Gas - Trillion Cubic Feet
1. Russian Federation - 1,680.000 (26.86%)
2. Iran - 991.600 (15.85%)
3. Qatar - 891.945 (14.26%)
4. Saudi Arabia - 258.470 (4.13%)
5. United States - 237.726 (3.80%)
6. United Arab Emirates - 214.400 (3.43%)
7. Nigeria - 184.160 (2.94%)
8. Venezuela - 170.920 (2.73%)
9. Algeria - 159.000 (2.54%)
10. Iraq - 111.940 (1.79%)
Notes:
- The world total of proved reserves is 6,254.364 trillion cubic feet of natural gas, an increase of 42.029 trillion cubic feet (a 0.68% increase). (I've noted a discrepancy in the difference between 2008 and 2009, coming up with an increase of 41.714 trillion cubic feet, a difference of 0.315 trillion cubic feet.)
- The total of the top ten countries makes up 78.35% of the world's proved reserves.
- There were no changes in the top ten rankings.
- Twelve countries had increases in their total proved reserves in 2008, for a total of 83.968 trillion cubic feet; however, this was partially offset by decreases in a total of fourteen countries, with depletions of 42.254 trillion cubic feet.
Labels:
Algeria,
Canada,
Energy,
Indonesia,
Iran,
Iraq,
Kuwait,
Libya,
Mexico,
Morocco,
New Zealand,
Nigeria,
Oil,
Pakistan,
Qatar,
Russia,
Saudi Arabia,
UAE,
United Kingdom,
Venezuela
January 11, 2009
British vs. American Journalism
What makes this interview so refreshing to watch is not just seeing the Israeli PR flack squirm as he gets grilled by the UK's Channel 4 reporter Alex Thomson, although that's immensely satisfying by itself. No, what's so great is the fact that here's a journalist who's doing his job, asking difficult questions, not allowing the interviewee to squirm off the hook. You know, real journalism.
As opposed to the American variety of "journalism," as captured so well by the crew at The Daily Show:
As opposed to the American variety of "journalism," as captured so well by the crew at The Daily Show:
September 7, 2008
The Economist: Faith-Based Finance

The modern history of Islamic finance is often dated to the 1970s, with the launch of Islamic banks in Saudi Arabia and the United Arab Emirates. But its roots stretch back 14 centuries. Islamic finance rests on the application of Islamic law, or sharia, whose primary sources are the Qur'an and the sayings of the Prophet Muhammad. Sharia emphasizes justice and partnership. In the world of finance that translates into a ban on speculation (or gharar) and on the charging of interest (riba). The idea of a lender levying a straight interest charge, regardless of how the underlying assets fare in an uncertain world, offends against these principles—though some Muslims dispute this, arguing that the literature in sharia covering business practices is small and that terms such as “usury” and “speculation” are open to interpretation.
Companies that operate in immoral industries, such as gambling or pornography, are also out of bounds, as are companies that have too much borrowing (typically defined as having debt totaling more than 33% of the firm’s stock market value). Such criteria mean that sharia-compliant investors steer clear of highly leveraged conventional banks, a wise choice in recent months.
Despite these prohibitions, Islamic financiers are confident that they can create their own versions of the important bits of conventional finance. The judgment of what is and is not allowed under sharia is made by boards of scholars, many of whom act as a kind of spiritual rating agency, working closely with lawyers and bankers to create instruments and structure transactions that meet the needs of the market without offending the requirements of their faith.
Non-Muslims may find the distinctions between conventional finance and Islamic finance a trifle contrived. An options contract to buy a security at a set price at a date three months hence is frowned upon as speculation. A contract to buy the same security at the same price, with 5% of the payment taken upfront and the balance taken in three months upon delivery, is sharia-compliant. Then again, winning over non-Muslims is not really the point.There is no ultimate authority for sharia compliance. Some worry that this may hold the industry back. Malaysia has tackled this by creating a national sharia board. Some industry bodies, notably the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Bahrain, are working towards common standards. That a few scholars dominate the boards of the big international institutions also helps create consistency. But differences between national jurisdictions — between pious Saudi Arabia and more liberal Malaysia, say, are likely to remain.
Both of these countries feature in the top three markets for Islamic finance, measured by the quantity of sharia-compliant assets (see table). Top is Iran, although international sanctions keep its industry isolated. The Gulf states, awash with liquidity and with a roster of huge infrastructure projects to finance, are the most dynamic markets. Britain is the most developed Western center, although France, with a much larger Muslim population, wants to close the gap.
The Economist: Savings and Souls

The basic premise of this article is to give a primer about the state of Islamic finance in the world today, focusing on various problems and challenges facing the industry.
To see Islamic finance in action, visit the mutating coastline of the Gulf. Diggers claw sand out of the sea off Manama, Bahrain’s capital, for a series of waterfront developments that are part-funded by Islamic instruments. To the east, Nakheel, a developer that issued the world’s largest Islamic bond (or sukuk) in 2006, is using the money to reorganize the shoreline of Dubai into a mosaic of man-made islands.
Finance is undertaking some Islamic construction of its own. Islamic banks are opening their doors across the Gulf and a new platform for sharia-compliant hedge funds has attracted names such as BlackRock. Western law firms and banks, always quick to sniff out new business, are beefing up their Islamic-finance teams.
Governments are taking notice too. In July Indonesia, the most populous Muslim country, said it would issue the nation’s first sukuk. The British government, which covets a position as the West’s leading center for Islamic finance, is also edging towards issuing a short-term sovereign sukuk. France has begun its own charm offensive aimed at Islamic investors.
Set against ailing Western markets such vigor looks impressive. The oil-fueled liquidity that has pumped up Middle Eastern sovereign-wealth funds is also buoying demand for Islamic finance. Compared with the ethics of some American subprime lending, Islamic finance seems virtuous as well as vigorous. It frowns on speculation and applauds risk-sharing, even if some wonder whether the industry is really doing anything more than mimicking conventional finance and, more profoundly, if it is strictly necessary under Islam (see article).
Sukuks in the souk
As the buzz around the industry grows, so do expectations. The amount of Islamic assets under management stands at around $700 billion, according to the Islamic Financial Services Board, an industry body. Standard & Poor’s, a rating agency, thinks that the industry could control $4 trillion of assets. Others go further, pointing out that Muslims account for 20% of the world’s population, but Islamic finance for less than 1% of its financial instruments—that gap, they say, represents a big opportunity. With tongue partly in cheek, some say that Islamic finance should by rights displace conventional finance altogether. Western finance cannot service capital that wants to find a sharia-compliant home; but Islamic finance can satisfy everyone.
Confidence is one thing, hyperbole another. The industry remains minute on many measures: its total assets roughly match those of Lloyds TSB, Britain’s fifth-largest bank (though some firms that meet sharia-compliant criteria may attract Islamic investors without realizing it). The assets managed by Islamic rules are growing at 10-15% annually—not to be sniffed at, but underwhelming for an industry that attracts so much attention. Most of all, the industry’s expansion is tempered by its need to address the tensions between its two purposes: to serve God and to make as much money as it can.
That is a stiff test. A few devout Muslims, many of them in Saudi Arabia, will pay what Paul Homsy of Crescent Asset Management calls a “piety premium” to satisfy sharia. But research into the investment preferences of Muslims shows that most of them want products that benefit their savings, as well as their souls—rather as ethical investors in the West want funds that do no harm, but are also at least as profitable as other investments.
A combination of ingenuity and persistence has enabled Islamic finance to conquer some of the main obstacles. Take transaction costs which tend to be higher in complex Islamic instruments than in more straightforward conventional ones. Sharia-compliant mortgages are typically structured so that the lender itself buys the property and then leases it out to the borrower at a price that combines a rental charge and a capital payment. At the end of the mortgage term, when the price of the property has been fully repaid, the house is transferred to the borrower. That additional complexity does not just add to the direct costs of the transaction, but can also fall foul of legal hurdles. Since the property changes hands twice in the transaction, an Islamic mortgage is theoretically liable to double stamp duty. Britain ironed out this kink in 2003 but it remains one of the few countries to have done so.
However, just as in conventional finance, as more transactions take place the economies of scale mean that the cost of each one rapidly falls. Financiers can recycle documentation rather than drawing it up from scratch. The contracts they now use for sharia-compliant mortgages in America draw on templates originally drafted at great cost for aircraft leases.
Islamic financiers can also streamline their processes. When Barclays Capital and Shariah Capital, a consultancy, developed the new hedge-fund platform, they had to screen the funds’ portfolios to make sure that the shares they pick are sharia-compliant. That sounds as if it should be an additional cost, but prime brokers already screen hedge funds to make sure that risk concentrations do not build up. The checks they make for their Islamic hedge funds can piggyback on the checks they make for their conventional hedge funds.
Mohammed Amin of PricewaterhouseCoopers, a consulting firm, says the extra transaction costs for a commonly used Islamic financing instrument, called commodity murabaha, total about $50 for every $1m of business. That is small enough to be recouped through efficiencies in other areas, or to be absorbed in lenders’ profit margins. In addition, bankers privately admit that less competition helps keep margins higher than in conventional finance. “Conceptually, Islamic finance should cost more, as it involves more transactions,” says Mr Amin. “The actual cost is tiny and can be lost in the wash.”
The other area of substantive development has been in redefining sharia-compliance. New products require scholars to cast sharia in fresh, and occasionally uncomfortable, directions. Some investors express surprise at the very idea of Islamic hedge funds, for example, because of prohibitions in sharia on selling something that an investor does not actually own.
“You encounter a wall of skepticism whenever you do something new,” says Eric Meyer of Shariah Capital. “It is no different in Islamic finance.” He says that it took eight long years to bring his idea of an Islamic hedge-fund platform to fruition, applying a technique called arboon to ensure that investors, in effect, take an equity position in shares before they sell them short. Industry insiders describe an iterative process, in which scholars, lawyers and bankers work together to understand new instruments and adapt them to the requirements of sharia.Differences in interpretation of sharia between countries can still hinder the economies of scale. Moreover, the scholars can sometimes push back. Earlier this year, the chairman of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), an industry body, excited controversy by criticizing a common form of sukuk issuance that guarantees the price at which the issuer will buy back the asset underpinning the transaction, thereby enabling investors’ capital to be repaid. Such behavior contravened an AAOIFI standard demanding that assets be bought back at market prices, in line with the sharia principle of risk-sharing. The sukuk market has enjoyed years of rapid growth (see chart), but early signs are that the AAOIFI judgment has dented demand.
Although Islamic finance has done well to reduce its costs and broaden its product range, it has yet to clear plenty of other hurdles. Scholars are the industry’s central figures, but recognized ones are in short supply. A small cadre of 15-20 scholars repeatedly crops up on the boards of Islamic banks that do international business. That partly reflects the role, which demands a knowledge of Islamic law and Western finance, as well as fluency in Arabic and English. It also reflects the comfort that this handful of recognized names brings to investors and customers.
There are plenty of initiatives to nurture more scholars but for the moment, the stars are pressed for time. That can be a problem when banks are chasing their verdict on bespoke transactions. It takes a scholar about a day to wade through the documentation connected with a sukuk issue, for example. But scholars are not always immediately available. “You’ve got to have the scholar’s number programmed into your mobile phone and be able to get hold of them,” says a banker in the Gulf. “That is real competitive advantage.”
Assets are another bottleneck. The ban on speculation means that Islamic transactions must be based on tangible assets, such as commodities, buildings or land. Observers say that exotic derivatives in intangibles such as weather or terrorism risk could not have an Islamic equivalent. But in the Middle East, at least, the supply of assets is limited. “Lots of companies in the Gulf are young and don’t have assets such as buildings to use in transactions,” says Geert Bossuyt of Deutsche Bank. This limits the scope for securitization, a modern financing technique that is backed by assets and is thus seen by sharia scholars as authentically Islamic. There are not enough properties to bundle into securities.
Governments have more assets to play with. The Indonesians have approved the use of up to $2 billion of property owned by the finance ministry in their planned sukuk issuance later this year. But oil-rich governments in the Gulf have little need to issue debt when they are flush with cash. That is a problem. Sovereign debt would establish benchmarks off which other issues can be priced. It would also add to the depth of the market, which would help solve another difficulty: liquidity.
It may seem odd to worry about liquidity when lots of Muslim countries are flush with cash, but many in Islamic finance put liquidity at the top of their watchlist. The chief concern is the mismatch between the duration of banks’ liabilities and their assets. The banks struggle to raise long-term debt. In a youthful industry, their credit histories are often limited; they also lack the sort of inventory of assets that corporate sukuk issuers have.
Desert liquidity
As a result, Islamic banks depend on short-term deposit funding, which, as Western banks know all too well, can disappear very rapidly. “Lots of assets are generally of longer term than most deposits,” says Khairul Nizam of AAOIFI. “Banks have to manage this funding gap carefully.” If there were a liquidity freeze like the one that struck Western banks a year ago, insiders say that the damage among Islamic banks would be greater.
There are initiatives to develop a sharia-compliant repo market but for the time being the banks have only limited scope for getting hold of money fast. Loans and investments roll over slowly. The lack of sharia-compliant assets and a tendency for Islamic investors to buy and hold their investments have stunted the secondary market. The shortest-term money-management instruments available today are inflexible. Cash reserves are high, but inefficient. Western banks with Islamic finance units, or “windows”, are just as troubled by tight liquidity as purely Islamic institutions are: their sharia-compliant status requires them to hold assets and raise funds separately from their parent banks.
There are other sources of danger, too. Because Islamic banks face constraints on the availability and type of instruments they can invest in, their balance-sheets may concentrate risk more than those of conventional banks do. The industry’s ability to steer its way through stormy waters is largely untested, although Malaysian banks do have memories of the Asian financial crisis in the 1990s to draw on.
None of these tensions need derail the growth of Islamic finance just yet. There is plenty of demand, whether from oil-rich investors, the faithful Muslim minorities in Western countries or the emerging middle classes in Muslim ones. There is lots of supply, in the form of infrastructure projects that need to be financed, Western borrowers looking for capital and ambitious rulers eager to set up their own Islamic-finance hubs. The industry is innovative; new products keep expanding the range of sharia-compliant instruments. And as in conventional finance, the economics of the Islamic kind improve as it gains scale.
But further growth itself contains a threat. The AAOIFI ruling on sukuk earlier this year neatly captured the contradictory pressures on the industry. On the one hand, bankers are worried that the narrow enforcement of sharia standards is liable to stifle growth; on the other some observers fear that Islamic finance is becoming so keen to drum up business that its products, with all their ingenuity, are designed to evade strict sharia standards. This presents a dilemma. If the industry introduces too many new products, cynics will argue that sharia is being twisted for economic ends—the scholars are being paid for their services, after all. But if it fails to innovate, the industry may look too medieval to play a full part in modern finance.
Balancing these imperatives will become even harder as competition grows fiercer. Anouar Hassoune of Moody’s, a credit-rating agency, believes that unscrupulous newcomers could harm the reputation of the entire industry, “like the space shuttle undone by something the size of a 50 cent coin”. Islamic finance serves two masters: faith and economics. The success of the industry depends on satisfying both, even if the price of that is a bit more inefficiency and a bit less growth.
June 8, 2008
Movie Sunday: Breaker Morant and Gallipoli
I originally decided to feature the movie Breaker Morant today, but could find only one decent clip. So we'll add a similar movie to go with it, that being Gallipoli.
Whereas the 1902 court-martial of Australian soldiers Lt. Harry 'Breaker' Harbord Morant, Lt. Peter Joseph Handcock, and Lt. George Witton caused Australia to become increasingly resentful of the British military and British rule in general (the Australian army never again accepted British Army justice in cases involving its soldiers), the debacle at Gallipoli is considered the birth of national consciousness in both Australia and New Zealand, bringing about the psychological independence for both countries from British rule.
The final scene in Gallipoli is supposed to be of the Battle of the Nek (Nek being the Afrikaans word for "mountain pass"), which took place on August 7, 1915. The infantry assault by the Australian 3rd Light Horse Brigade was scheduled for 4:30 am, preceded by a naval bombardment of the Turkish machine gun lines that faced the Australians. However, the bombardment ended prematurely, at 4:23 a.m., allowing the Turkish soldiers time to return safely back to their lines prior to the assault, which they now knew was coming:
When Commonwealth burial parties returned to Gallipoli in 1919, the found the bones of the Australians still lying on the battleground. A total of 326 soldiers were buried at the Nek Cemetary, of which only ten (six Australians and four New Zealanders) were identified.
Notes: In the second clip for Gallipoli, the movie proper ends at the 4:05 mark; whoever created this clip left the credits running for the remaining 3:16. You may also notice that "Major Barton" (who gives the pep talk to the soldiers just before they're slaughtered) is actor Bill Hunter, whom we last saw on a Movie Sunday post as "Barry Fife" in Strictly Ballroom.
Whereas the 1902 court-martial of Australian soldiers Lt. Harry 'Breaker' Harbord Morant, Lt. Peter Joseph Handcock, and Lt. George Witton caused Australia to become increasingly resentful of the British military and British rule in general (the Australian army never again accepted British Army justice in cases involving its soldiers), the debacle at Gallipoli is considered the birth of national consciousness in both Australia and New Zealand, bringing about the psychological independence for both countries from British rule.
The final scene in Gallipoli is supposed to be of the Battle of the Nek (Nek being the Afrikaans word for "mountain pass"), which took place on August 7, 1915. The infantry assault by the Australian 3rd Light Horse Brigade was scheduled for 4:30 am, preceded by a naval bombardment of the Turkish machine gun lines that faced the Australians. However, the bombardment ended prematurely, at 4:23 a.m., allowing the Turkish soldiers time to return safely back to their lines prior to the assault, which they now knew was coming:
The first wave of 150 men from the 8th Light Horse Regiment, led by their commander, Lieutenant Colonel A.H. White, "hopped the bags" and went over the top. They were met with a hail of machine gun and rifle fire. A few men reached the Turkish trenches, and marker flags were reportedly seen flying, but they were quickly overwhelmed.
The second wave of 150 followed the first without question and met the same fate. This was the ultimate tragedy of the Nek, that the attack was not halted after the first wave when it was clear that it was futile. A simultaneous attack by the 2nd Light Horse Regiment (1st Light Horse Brigade) at Quinn's Post against the Turkish trench system known as "The Chessboard" was abandoned after 49 out of the 50 men in the first wave became casualties. In this case, the regiment's commander had not gone in the first wave and so was able to make the decision to cancel.
Lieutenant Colonel N.M. Brazier, commander of the 10th Light Horse Regiment, attempted to have the third wave canceled, claiming that "the whole thing was nothing but bloody murder." He was unable to find Colonel Hughes and unable to persuade the brigade major, Colonel J.M. Antill, who believed the reports that marker flags had been sighted. So the third wave attacked and was wiped out. Finally Hughes called off the attack, but confusion in the fire trench led to some of the fourth wave going over.
When Commonwealth burial parties returned to Gallipoli in 1919, the found the bones of the Australians still lying on the battleground. A total of 326 soldiers were buried at the Nek Cemetary, of which only ten (six Australians and four New Zealanders) were identified.
Notes: In the second clip for Gallipoli, the movie proper ends at the 4:05 mark; whoever created this clip left the credits running for the remaining 3:16. You may also notice that "Major Barton" (who gives the pep talk to the soldiers just before they're slaughtered) is actor Bill Hunter, whom we last saw on a Movie Sunday post as "Barry Fife" in Strictly Ballroom.
It really ain't the place nor time to reel off rhyming diction, but yet we'll write a final rhyme while waiting crucifixion. For we bequeath a parting tip of sound advice for such men who come in transport ships to polish off the Dutchman. If you encounter any Boers, you really must not loot 'em, and if you wish to leave these shores, for pity's sake, don't shoot 'em. Let's toss a bumper down our throat before we pass to Heaven, and toast a trim-set petticoat we leave behind in Devon.
Shoot straight, you bastards - don't make a mess of it!
Jack: What are your legs?
Archy Hamilton: Springs. Steel springs.
Jack: What are they going to do?
Archy Hamilton: Hurl me down the track.
Jack: How fast can you run?
Archy Hamilton: As fast as a leopard.
Jack: How fast are you going to run?
Archy Hamilton: As fast as a leopard.
Jack: Then lets see you do it.
The thing I can't stand about you mate is you're always so bloody cheerful.
April 8, 2008
The Shallow Mind of the Islamophobe
One of the things that strikes me about Islamophobic people is how shallow their minds are. In fact, they follow a remarkably consistent pattern, on a par with lather, rinse, repeat. To illustrate this point, I'll take the recent case of the Muslim bus driver, Arunas Raulynaitis, who allegedly had ordered all of the passengers on his bus to get off so that he could do salat, one of the five daily prayers we Muslims do. At least that was the original story as told by The Sun.
Stage 1: Show a swift knee-jerk outrage without bothering to wait till you've heard all of the story. Don't stop to think! You must foam at the mouth so that all your dhimmi friends will be convinced of your sincerity and conviction to the cause.
Stage 2: Read the real news.
Stage 3: Ignore the real news, and renew your frothing hatred toward Islam and Muslims. Facts can never get in the way of the "truth."
Stage 4: Wait for the latest breaking story about Islam and Muslims in the media so that you can once again show off your ignorance and dedication to the cause. Don't bother to learn any lessons from having been wrong the last time. Besides, Mom doesn't care as long as you sweep the basement floor clean of all your Cheetoz™ crumbs.
Lather, rinse, repeat.
HT: Islamophobia Watch
Stage 1: Show a swift knee-jerk outrage without bothering to wait till you've heard all of the story. Don't stop to think! You must foam at the mouth so that all your dhimmi friends will be convinced of your sincerity and conviction to the cause.
Yes, it's ubelievable [sic] --unbelievable that zealous Muslims are so keen to prove that Islam is intolerant, uncharitable, regressive, and in-you-face supremacist. "Kuffar to the back of the tram! Don't you people know your place?" [Original emphasis.]
-- Comment at Dhimmi Watch: U.K.: Muslim bus driver halts bus to pray
Stage 2: Read the real news.
London United Busways say they have carried out a full investigation after driver Arunas Raulynaitis rolled out his prayer mat to perform his daily prayers, facing Mecca on the number 81 bus in Langley.
Bosses have analysed evidence, including CCTV footage, and say the driver was actually on his 10-minute break when the incident took place at around 1.30pm on Thursday.
They added that the control room had in fact radioed Mr Raulynaitis to terminate the bus outside Langley Fire Station in London Road because it was running late due to road works. Passengers were asked to leave the vehicle while they waited for another bus to pick them up to complete their journey.
Steffan Evans, spokesman for London United Busways, said: “The bus was delayed and by the time it had reached Langley the next bus on the route had caught up.
“At this point the bus service controller decided that in order to maintain the frequency of the buses he would curtail the late bus, and therefore instructed the driver to transfer his passengers in order that they could continue their journey without any further delay.”
-- Slough & Windsor Observer: Bosses defend Muslim bus driver who stopped bus to pray
Stage 3: Ignore the real news, and renew your frothing hatred toward Islam and Muslims. Facts can never get in the way of the "truth."
A bizarre example of insane genuflection in order to deflect attention from Islam and the Muslims who spread and practice it. The notion that another bus is sent to continue a route which the Muslim brought to a halt in order to "pray" (read "demonstrate his utter contempt for those "infidel" passengers while showing them who's the real boss") is a gotesque [sic] parody.
Attempts by apolgists [sic] for fascist Islam appear more and more desperate with each new Jihad transgression they attempt to sanitize.
-- Comment at Dhimmi Watch: Bosses defend Muslim bus driver who stopped bus to pray
Stage 4: Wait for the latest breaking story about Islam and Muslims in the media so that you can once again show off your ignorance and dedication to the cause. Don't bother to learn any lessons from having been wrong the last time. Besides, Mom doesn't care as long as you sweep the basement floor clean of all your Cheetoz™ crumbs.
Lather, rinse, repeat.
HT: Islamophobia Watch
August 5, 2007
The Economist: A Prisoner's Tale
I first heard about Burmese artist Htien Lin on BBC World a few nights ago; then I came across his story in this week's The Economist. His story is quite amazing and he has a very interesting, very unique style of painting, which he continues to use even now when he's living in the UK and has ample access to art supplies... Well, almost all. According to BBC World, he continues to use imported Burmese cotton cloth for his work.
The junta that rules Myanmar is not known for its love of art. The generals do occasionally pay for the restoration of an historic temple or the painting of an edifying mural. But inevitably, the resulting work aims more to nourish their self-esteem than to reflect the life or concerns of ordinary Burmese.
The paintings of Htein Lin, a former Burmese dissident who has given up politics for art, serve as something of an antidote to the regime's propaganda. They are not, as some democracy activists might have hoped, a crusading attack on military rule. To the extent that they carry any ideological message, it is a simple insistence on freedom of expression. Above all, the collection of works on display at London's Asia House until October 13th is a record of the misery of life in the junta's prisons.
The life story of Mr Htein Lin (who can be seen above sitting in front of one of his paintings) mirrors the recent history of Burma, as Myanmar was known before the army changed its name. In 1988, while still at university and dabbling in painting, he helped to organise the political protests that brought down the dictatorial regime of the day. When the generals subsequently reasserted themselves, he fled to the jungle, along with many other idealistic students.
But disillusionment set in. The army overran the rebels' camps, neighbouring governments refused them refuge and the pressures of fear, hunger and disease bred discord. Some of Mr Htein Lin's comrades were executed by other rebels on suspicion of spying for the junta; Mr Htein Lin himself was tortured. He escaped and, renouncing politics, returned to university.
Politics, however, soon caught up with him again: the secret police intercepted a letter that, unbeknownst to Mr Htein Lin, mentioned his name as a possible recruit to the opposition's cause. A military tribunal slung him in prison. Six years later, as a result of a power struggle within the junta, he was released.
Throughout all this upheaval, Mr Htein Lin tried to keep painting. In the jungle, he was reduced to sketching in the sand with sticks. But the hardest place to pursue his calling was prison. Brushes, paints and paper were not allowed. At first, he used his fingers to spread dye from the prison factory over empty food packets. Gradually, however, he discovered that the lungyis (sarongs) of the prisoners' uniforms made the best canvases, while almost anything, from the lids of toothpaste tubes to the wheels of cigarette lighters could be used as brushes. Sometimes, he carved stencils out of bars of soap; at others, as in the self-portrait on display in the show, he applied his improvised paints with a syringe.
His fellow prisoners kept an eye out for guards while he painted. In exchange, he put on “exhibitions” for them in his cell block, or painted scenes they requested. He hid his work in his bedroll and bribed friendly guards to smuggle it out. Once, a guard mistook a series of abstract paintings as blueprints for an escape attempt and destroyed them.
Many of the paintings show snapshots of prison life: convicts crouched in subservient squats for inspections, or curled morosely in tiny cells. One, made for a friend who pined for a pretty view, depicts a sunset. Another, painted at the turn of the millennium, presents an imaginary firework display.
Mr Htein Lin says that the constant struggle to obtain supplies and hide his work kept him busy and distracted. Moreover, in the face of these and other obstacles, simply continuing to paint seemed like an act of defiance. It is good that this small but dignified protest succeeded. And it is even better that the paintings have now been drawn to the attention of a much wider audience, thanks in part to the artist's recent marriage to a British diplomat. But perhaps it is also a little depressing to see how the daily struggle to lay his hands on this and that has subsumed Mr Htein Lin's grander ambitions—as it has for so many other Burmese.
June 1, 2007
"All we are saying..."
The Economist Intelligence Unit, a division of the corporation that publishes The Economist, has come out with its first annual "Global Peace Index," an index that ranks 121 countries based upon their "peacefulness." One of the irritants I have about certain American Christians and Islamophobes (who are often one and the same) is their claim that the US is sooo peaceful and Muslims are sooo violent. Well, the Global Peace Index exposes the lie behind that claim. Of the 121 countries in this year's index, the US placed 96th, ahead of Iran, but behind Yemen. The most peaceful Muslim country is Oman (22) [see below for a list of the remaining Muslim-majority countries]. Countries of interest: Norway (1), New Zealand (2), Japan (5), Canada (8), Hong Kong (23), Australia (25), Singapore (29), South Korea (32), United Kingdom (49), China (60), India (109), Russia (118), and Israel (119).
The following comes from the press release that describes the objective of the Index and how the Index was created:
Muslim-majority countries: Oman (22), Qatar (30), Malaysia (37), the UAE (38), Tunisia (39), Kuwait (46), Morocco (48), Libya (58), Kazakhstan (61), Bahrain (62), Jordan (63), Egypt (73), Syria (77), Indonesia (78), Bangladesh (86), Saudi Arabia (90), Turkey (92), Yemen (95), Iran (97), Azerbaijan (101), Algeria (107), Uzbekistan (110), Lebanon (114), Pakistan (115), and Iraq (121).
The following comes from the press release that describes the objective of the Index and how the Index was created:
"The objective of the Global Peace Index was to go beyond a crude measure of wars by systematically exploring the texture of peace," explained Global Peace Index President, Mr. Clyde McConaghy, speaking in Washington. "The Index provides a quantitative measure of peacefulness that is comparable over time, and we hope it will inspire and influence world leaders and governments to further action."
The rankings show that even among the G8 countries there are significant differences in peacefulness: While Japan was the most peaceful of the G8 countries, at a rank of five in the Index, Russia neared the bottom at number 118. The Global Peace Index also reveals that countries which had a turbulent time for parts of the twentieth century, such as Ireland and Germany, have emerged as peace leaders in the 21st century.
The Economist Intelligence Unit measured countries' peacefulness based on wide range of indicators - 24 in all - including ease of access to "weapons of minor destruction" (guns, small explosives), military expenditure, local corruption, and the level of respect for human rights.
After compiling the Index, the researchers examined it for patterns in order to identify the "drivers" that make for peaceful societies. They found that peaceful countries often shared high levels of democracy and transparency of government, education and material well-being. While the U.S. possesses many of these characteristics, its ranking was brought down by its engagement in warfare and external conflict, as well as high levels of incarceration and homicide. The U.S.'s rank also suffered due to the large share of military expenditure from its GDP, attributed to its status as one of the world's military-diplomatic powers.
The main findings of the Global Peace Index are:Peace is correlated to indicators such as income, schooling and the level of regional integration Peaceful countries often shared high levels of transparency of government and low corruption Small, stable countries which are part of regional blocs are most likely to get a higher ranking
Muslim-majority countries: Oman (22), Qatar (30), Malaysia (37), the UAE (38), Tunisia (39), Kuwait (46), Morocco (48), Libya (58), Kazakhstan (61), Bahrain (62), Jordan (63), Egypt (73), Syria (77), Indonesia (78), Bangladesh (86), Saudi Arabia (90), Turkey (92), Yemen (95), Iran (97), Azerbaijan (101), Algeria (107), Uzbekistan (110), Lebanon (114), Pakistan (115), and Iraq (121).
Labels:
American culture,
Australia,
Canada,
China,
India,
Indonesia,
Iran,
Iraq,
Israel,
Japan,
Korea,
Malaysia,
Russia,
Saudi Arabia,
Singapore,
The Economist,
Turkey,
UAE,
United Kingdom,
Yemen
April 25, 2007
Pathetic Western Education
Another good article I'm stealing from IZ. The following geometry diagram comes from a British exam for college freshmen:

Now, compare that problem with the following problem, from a Chinese college entrance exam:
That's right, the Chinese test is for kids trying to get into a university, the first is for dunces who are already in their university.
BBC, where this article first appeared, says: "A glance at the two questions reveals how much more advanced is the maths teaching in China, where children learn the subject up to the age of 18, the society says.
"It has sounded a warning about Britain's future economic prospects which it claims are threatened by competition from scientists in China."
Gee, ya think? Tom Friedman says the world is flat. No, the world is tilting to the east, to Asia, and at an accelerating pace. The west is quickly becoming a has-been (read my previous post) as educational curricula - especially in the sciences and mathematics - become watered down for students who wouldn't make the grade otherwise. (See below.)
And you know things must be really bad in Britain when the Royal Society of Chemistry has to offer a £500 prize to see if anyone can solve the above Chinese problem.
----------------
So, how pathetic is education in the West? The BBC also reported that British schools are encouraging students not to take A-level mathematics courses: "...as maths was a difficult subject, schools feared examination failures which would threaten their standings.
...
"'Schools and students are reluctant to consider A-level mathematics to age 18, because the subject is regarded as difficult, and with league tables and university entrance governed by A-level points, easier subjects are taken.'
...
"'Increasingly, universities are having to mount remedial sessions for incoming science undergraduates because their maths skills are so limited, with many having stopped formal lessons in mathematics two years earlier at the GCSE level.'"
Also,
"Since 2002, there has been a 15% fall in the numbers taking maths at A-level in England, while those taking physics fell 14% and computer sciences 47%."
At least some people in the UK recognize that the problem needs to be solved, although some of the suggestions are mixed. On a positive note:
"'We are changing the curriculum, creating a new entitlement to give more pupils the chance to study separate physics, chemistry and biology GCSEs and piloting 250 science clubs for 11 to 14-year-olds.'
"Some £30m was being spent over the next two years on recruiting 3,000 extra science teachers and encouraging more students to study sciences..."
However, a third BBC article states that a report by the Council for Industry and Higher Education recommends that "A-level students should be paid for passing exams in science and maths... ...a payment of about £500 might be enough to encourage students to stick with Stem [Science, Technology, Engineering, Mathematics] subjects."

Now, compare that problem with the following problem, from a Chinese college entrance exam:

BBC, where this article first appeared, says: "A glance at the two questions reveals how much more advanced is the maths teaching in China, where children learn the subject up to the age of 18, the society says.
"It has sounded a warning about Britain's future economic prospects which it claims are threatened by competition from scientists in China."
Gee, ya think? Tom Friedman says the world is flat. No, the world is tilting to the east, to Asia, and at an accelerating pace. The west is quickly becoming a has-been (read my previous post) as educational curricula - especially in the sciences and mathematics - become watered down for students who wouldn't make the grade otherwise. (See below.)
And you know things must be really bad in Britain when the Royal Society of Chemistry has to offer a £500 prize to see if anyone can solve the above Chinese problem.
----------------
So, how pathetic is education in the West? The BBC also reported that British schools are encouraging students not to take A-level mathematics courses: "...as maths was a difficult subject, schools feared examination failures which would threaten their standings.
...
"'Schools and students are reluctant to consider A-level mathematics to age 18, because the subject is regarded as difficult, and with league tables and university entrance governed by A-level points, easier subjects are taken.'
...
"'Increasingly, universities are having to mount remedial sessions for incoming science undergraduates because their maths skills are so limited, with many having stopped formal lessons in mathematics two years earlier at the GCSE level.'"
Also,
"Since 2002, there has been a 15% fall in the numbers taking maths at A-level in England, while those taking physics fell 14% and computer sciences 47%."
At least some people in the UK recognize that the problem needs to be solved, although some of the suggestions are mixed. On a positive note:
"'We are changing the curriculum, creating a new entitlement to give more pupils the chance to study separate physics, chemistry and biology GCSEs and piloting 250 science clubs for 11 to 14-year-olds.'
"Some £30m was being spent over the next two years on recruiting 3,000 extra science teachers and encouraging more students to study sciences..."
However, a third BBC article states that a report by the Council for Industry and Higher Education recommends that "A-level students should be paid for passing exams in science and maths... ...a payment of about £500 might be enough to encourage students to stick with Stem [Science, Technology, Engineering, Mathematics] subjects."
April 12, 2007
Alfred Rowe and RMS Titanic
Saturday is the 95th anniversary of the sinking of the RMS Titanic. While I've never written about Titanic on my blogs before, I do have a series of webpages on the subject that are quite popular (every day, anywhere between 20-50% of all my hits are with regard to Titanic). This post is with regard to a letter written by a first-class passenger on board Titanic, Alfred Rowe, which is up for auction on the 21st. A number of articles have been published about this letter in recent weeks; below is one of them, taken from the Daily Express:
Businessman Alfred Rowe described the ship as “too big” and a “positive danger” in a letter to his wife Constance written four days before it sank.
In the letter, written on Titanic notepaper, he also tells his wife that he is going down with a cold. He adds: “I took a lovely Turkish bath yesterday and that did me good.”
Mr Rowe, 59, was among the 1,522 passengers and crew who died when the liner struck an iceberg on its maiden voyage to New York in 1912. He managed to scramble on to an ice floe but was found frozen to death.
The letter is being sold at auction by Mr Rowe’s family, along with a diary in which Constance records how she waited desperately at home in Liverpool for news of her husband’s fate. The letter was posted on April 11 in Queenstown, Ireland, the ship’s last port of call.
Mr Rowe, who owned a 200,000-acre ranch in Texas, joined the Titanic in Southampton and, although he was travelling first-class, he took an instant dislike to the 46,000-ton ship.
Describing how the Titanic had a near-miss with the SS New York as its wake caused the other ship to break its moorings, he wrote: “She is too big. You can’t find your way about and it takes too long to get anywhere.
“She has no excessive speed...and is a positive danger to all other shipping. We had the narrowest possible escape of having a hole knocked in us yesterday by the New York. The two ships actually touched.”
Auctioneer Andrew Aldridge said: “It is a remarkable letter. Most other passengers wrote about how magnificent the ship was and described her as a floating palace. Alfred Rowe clearly wasn’t impressed and described her as a danger. He appears to have something of a premonition of what was going to happen.”
The letter and diary are expected to fetch £60,000 at the auction of White Star Line memorabilia in Devizes, Wiltshire, on April 21.
Sources:
Text: "I'm Going Down With Something"
Photo: Letter Predicted Titanic Danger
Alfred Rowe is not mentioned in James Cameron's 1997 film, Titanic, although there was Quartermaster George Thomas Rowe in the movie. (I have no idea if the two men were at all related.)
The following is the biography of Alfred Rowe on the superb website, Encyclopedia Titanica:
Mr Alfred G. Rowe, was born in Peru on 24 February 1853, the son of John James and Agnes Rowe of Liverpool. He was one of seven children. Rowe later moved to England, and then, in 1879, settled in Donley County, Texas where he started a ranch with his brothers Vincent and Bernard.
In 1910, Rowe had moved back to England with his wife and children. He returned a few times a year to check on his ranch, which he had left with a manager. For his last such trip Rowe booked passage on the Titanic as a first class passenger (ticket number 113790, £26 11s).
Accounts at the time suggested that after the sinking he swam to an piece of ice where he was later found frozen to death. However the body was simply picked up, like so many others, by the Cable Ship Mackay-Bennett.
It was forwarded from Halifax on 4 May 1912 to Liverpool on the Empress of Britain. On Tuesday 14th May 1912 he was buried at Toxteth Park Cemetery, Smithdown Road, Liverpool.
His eldest brother Charles Graham Rowe (of Graham Rowe & Co., Mersey Chambers, Old Church Yard, Liverpool) received his effects on 30 May 1912 which consisted of one gold signet ring, a card case containing two photos, cards and certificate of posting of a registered postal packet. Three Bank of England £5 notes, newspaper cuttings, and memos in pencil.
Note: The ranch would eventually grew to encompass about 100 sections and reached from Gray County, through the present town of McLean, to Lela on the north, and from there to the present town of Quail and to within five miles of Clarendon. Rowe donated land in Gray County that eventually became McLean. The remains of his ranch, now considerably smaller, makes up the Lewis Ranch, named for W.J. Lewis, who bought the ranch from Rowe's widow.

In the letter, written on Titanic notepaper, he also tells his wife that he is going down with a cold. He adds: “I took a lovely Turkish bath yesterday and that did me good.”
Mr Rowe, 59, was among the 1,522 passengers and crew who died when the liner struck an iceberg on its maiden voyage to New York in 1912. He managed to scramble on to an ice floe but was found frozen to death.
The letter is being sold at auction by Mr Rowe’s family, along with a diary in which Constance records how she waited desperately at home in Liverpool for news of her husband’s fate. The letter was posted on April 11 in Queenstown, Ireland, the ship’s last port of call.
Mr Rowe, who owned a 200,000-acre ranch in Texas, joined the Titanic in Southampton and, although he was travelling first-class, he took an instant dislike to the 46,000-ton ship.
Describing how the Titanic had a near-miss with the SS New York as its wake caused the other ship to break its moorings, he wrote: “She is too big. You can’t find your way about and it takes too long to get anywhere.
“She has no excessive speed...and is a positive danger to all other shipping. We had the narrowest possible escape of having a hole knocked in us yesterday by the New York. The two ships actually touched.”
Auctioneer Andrew Aldridge said: “It is a remarkable letter. Most other passengers wrote about how magnificent the ship was and described her as a floating palace. Alfred Rowe clearly wasn’t impressed and described her as a danger. He appears to have something of a premonition of what was going to happen.”
The letter and diary are expected to fetch £60,000 at the auction of White Star Line memorabilia in Devizes, Wiltshire, on April 21.
Sources:
Alfred Rowe is not mentioned in James Cameron's 1997 film, Titanic, although there was Quartermaster George Thomas Rowe in the movie. (I have no idea if the two men were at all related.)
The following is the biography of Alfred Rowe on the superb website, Encyclopedia Titanica:
Mr Alfred G. Rowe, was born in Peru on 24 February 1853, the son of John James and Agnes Rowe of Liverpool. He was one of seven children. Rowe later moved to England, and then, in 1879, settled in Donley County, Texas where he started a ranch with his brothers Vincent and Bernard.
In 1910, Rowe had moved back to England with his wife and children. He returned a few times a year to check on his ranch, which he had left with a manager. For his last such trip Rowe booked passage on the Titanic as a first class passenger (ticket number 113790, £26 11s).
Accounts at the time suggested that after the sinking he swam to an piece of ice where he was later found frozen to death. However the body was simply picked up, like so many others, by the Cable Ship Mackay-Bennett.
It was forwarded from Halifax on 4 May 1912 to Liverpool on the Empress of Britain. On Tuesday 14th May 1912 he was buried at Toxteth Park Cemetery, Smithdown Road, Liverpool.
His eldest brother Charles Graham Rowe (of Graham Rowe & Co., Mersey Chambers, Old Church Yard, Liverpool) received his effects on 30 May 1912 which consisted of one gold signet ring, a card case containing two photos, cards and certificate of posting of a registered postal packet. Three Bank of England £5 notes, newspaper cuttings, and memos in pencil.
Note: The ranch would eventually grew to encompass about 100 sections and reached from Gray County, through the present town of McLean, to Lela on the north, and from there to the present town of Quail and to within five miles of Clarendon. Rowe donated land in Gray County that eventually became McLean. The remains of his ranch, now considerably smaller, makes up the Lewis Ranch, named for W.J. Lewis, who bought the ranch from Rowe's widow.
April 7, 2007
Notice of Revocation of Independence
Those crazy Brits! ;)
To the citizens of the United States of America, in the light of your failure to elect a competent President of the USA and thus to govern yourselves, we hereby give notice of the revocation of your independence, effective today.
Her Sovereign Majesty Queen Elizabeth II will resume monarchical duties over all states, commonwealths and other territories. Except Utah, which she does not fancy. Your new prime minister (The Right Honourable Tony Blair, MP for the 97.85% of you who have until now been unaware that there is a world outside your borders) will appoint a minister for America without the need for further elections. Congress and the Senate will be disbanded. A questionnaire will be circulated next year to determine whether any of you noticed. To aid in the transition to a British Crown Dependency, the following rules are introduced with immediate effect:
1. You should look up revocation in the Oxford English Dictionary. Then look up aluminium. Check the pronunciation guide. You will be amazed at just how wrongly you have been pronouncing it. The letter 'U' will be reinstated in words such as 'favour' and 'neighbour', skipping the letter 'U' is nothing more than laziness on your part. Likewise, you will learn to spell 'doughnut' without skipping half the letters. You will end your love affair with the letter 'Z' (pronounced 'zed' not 'zee') and the suffix ize will be replaced by the suffix ise. You will learn that the suffix 'burgh' is pronounced 'burra' e.g. Edinburgh. You are welcome to respell Pittsburgh as 'Pittsberg' if you can't cope with correct pronunciation.
Generally, you should raise your vocabulary to acceptable levels. Look up vocabulary. Using the same twenty seven words interspersed with filler noises such as "like" and "you know" is an unacceptable and inefficient form of communication. Look up interspersed. There will be no more 'bleeps' in the Jerry Springer show. If you're not old enough to cope with bad language then you shouldn't have chat shows. When you learn to develop your vocabulary then you won't have to use bad language as often.
2. There is no such thing as "US English". We will let Microsoft know on your behalf. The Microsoft spell-checker will be adjusted to take account of the reinstated letter 'u' and the elimination of -ize.
3. You should learn to distinguish the English and Australian accents. It really isn't that hard. English accents are not limited to cockney, upper-class twit or Mancunian (Daphne in Frasier). You will also have to learn how to understand regional accents -- Scottish dramas such as Taggart will no longer be broadcast with subtitles. While we're talking about regions, you must learn that there is no such place as Devonshire in England. The name of the county is Devon. If you persist in calling it Devonshire, all American States will become shires, e.g., Texasshire, Floridashire, Louisianashire.
4. Hollywood will be required occasionally to cast English actors as the good guys. Hollywood will be required to cast English actors to play English characters. British sit-coms such as Men Behaving Badly or Red Dwarf will not be re-cast and watered down for a wishy-washy American audience who can't cope with the humour of occasional political incorrectness.
5. You should relearn your original national anthem, God Save The Queen, but only after fully carrying out task 1. We would not want you to get confused and give up half way through.
6. You should stop playing American football. There is only one kind of football. What you refer to as American football is not a very good game. The 2.15% of you who are aware that there is a world outside your borders may have noticed that no one else plays American football. You will no longer be allowed to play it, and should instead play proper football. Initially, it would be best if you played with the girls. It is a difficult game. Those of you brave enough will, in time, be allowed to play rugby (which is similar to American "football", but does not involve stopping for a rest every twenty seconds or wearing full kevlar body armour like nancies). We are hoping to get together at least a US Rugby sevens side by 2005. You should stop playing baseball. It is not reasonable to host an event called the 'World Series' for a game which is not played outside of America. Since only 2.15% of you are aware that there is a world beyond your borders, your error is understandable. Instead of baseball, you will be allowed to play a girls' game called rounders, which is baseball without fancy team strip, oversized gloves, collector cards or hot dogs.
7. You will no longer be allowed to own or carry guns. You will no longer be allowed to own or carry anything more dangerous in public than a vegetable peeler. Because we don't believe you are sensible enough to handle potentially dangerous items, you will require a permit if you wish to carry a vegetable peeler in public.
8. July 4th is no longer a public holiday. November 2nd will be a new national holiday, but only in England. It will be called Indecisive Day.
9. All American cars are hereby banned. They are crap and it is for your own good. When we show you German cars, you will understand what we mean. All road intersections will be replaced with roundabouts. You will start driving on the left with immediate effect. At the same time, you will go metric with immediate effect and conversion tables. Roundabouts and metrication will help you understand the British sense of humour.
10. You will learn to make real chips. Those things you call French fries are not real chips. Fries aren't even French, they are Belgian though 97.85% of you (including the guy who discovered fries while in Europe) are not aware of a country called Belgium. Those things you insist on calling potato chips are properly called crisps. Real chips are thick cut and fried in animal fat. The traditional accompaniment to chips is beer, which should be served warm and flat. Waitresses will be trained to be more aggressive with customers.
11. As a sign of penance 5 grams of sea salt per cup will be added to all tea made within the Commonwealth of Massachusetts, this quantity to be doubled for tea made within the city of Boston itself.
12. The cold tasteless stuff you insist on calling beer is not actually beer at all, it is lager. From November 1st only proper British Bitter will be referred to as beer, and European brews of known and accepted provenance will be referred to as Lager. The substances formerly known as American Beer will henceforth be referred to as Near-Frozen Knat's Urine, with the exception of the product of the American Budweiser company whose product will be referred to as Weak Near-Frozen Knat's Urine. This will allow true Budweiser (as manufactured for the last 1000 years in Pilsen, Czech Republic) to be sold without risk of confusion.
13. From November 10th the UK will harmonise petrol (or Gasoline, as you will be permitted to keep calling it until April 1st 2005) prices with the former USA. The UK will harmonise its prices to those of the former USA and the Former USA will, in return, adopt UK petrol prices (roughly $6/US gallon -- get used to it).
14. You will learn to resolve personal issues without using guns, lawyers or therapists. The fact that you need so many lawyers and therapists shows that you're not adult enough to be independent. Guns should only be handled by adults. If you're not adult enough to sort things out without suing someone or speaking to a therapist then you're not grown up enough to handle a gun.
15. Please tell us who killed JFK. It's been driving us crazy.
16. Tax collectors from Her Majesty's Government will be with you shortly to ensure the acquisition of all revenues due (backdated to 1776).
Thank you for your co-operation and have a great day.
John Cleese
To the citizens of the United States of America, in the light of your failure to elect a competent President of the USA and thus to govern yourselves, we hereby give notice of the revocation of your independence, effective today.
Her Sovereign Majesty Queen Elizabeth II will resume monarchical duties over all states, commonwealths and other territories. Except Utah, which she does not fancy. Your new prime minister (The Right Honourable Tony Blair, MP for the 97.85% of you who have until now been unaware that there is a world outside your borders) will appoint a minister for America without the need for further elections. Congress and the Senate will be disbanded. A questionnaire will be circulated next year to determine whether any of you noticed. To aid in the transition to a British Crown Dependency, the following rules are introduced with immediate effect:
1. You should look up revocation in the Oxford English Dictionary. Then look up aluminium. Check the pronunciation guide. You will be amazed at just how wrongly you have been pronouncing it. The letter 'U' will be reinstated in words such as 'favour' and 'neighbour', skipping the letter 'U' is nothing more than laziness on your part. Likewise, you will learn to spell 'doughnut' without skipping half the letters. You will end your love affair with the letter 'Z' (pronounced 'zed' not 'zee') and the suffix ize will be replaced by the suffix ise. You will learn that the suffix 'burgh' is pronounced 'burra' e.g. Edinburgh. You are welcome to respell Pittsburgh as 'Pittsberg' if you can't cope with correct pronunciation.
Generally, you should raise your vocabulary to acceptable levels. Look up vocabulary. Using the same twenty seven words interspersed with filler noises such as "like" and "you know" is an unacceptable and inefficient form of communication. Look up interspersed. There will be no more 'bleeps' in the Jerry Springer show. If you're not old enough to cope with bad language then you shouldn't have chat shows. When you learn to develop your vocabulary then you won't have to use bad language as often.
2. There is no such thing as "US English". We will let Microsoft know on your behalf. The Microsoft spell-checker will be adjusted to take account of the reinstated letter 'u' and the elimination of -ize.
3. You should learn to distinguish the English and Australian accents. It really isn't that hard. English accents are not limited to cockney, upper-class twit or Mancunian (Daphne in Frasier). You will also have to learn how to understand regional accents -- Scottish dramas such as Taggart will no longer be broadcast with subtitles. While we're talking about regions, you must learn that there is no such place as Devonshire in England. The name of the county is Devon. If you persist in calling it Devonshire, all American States will become shires, e.g., Texasshire, Floridashire, Louisianashire.
4. Hollywood will be required occasionally to cast English actors as the good guys. Hollywood will be required to cast English actors to play English characters. British sit-coms such as Men Behaving Badly or Red Dwarf will not be re-cast and watered down for a wishy-washy American audience who can't cope with the humour of occasional political incorrectness.
5. You should relearn your original national anthem, God Save The Queen, but only after fully carrying out task 1. We would not want you to get confused and give up half way through.
6. You should stop playing American football. There is only one kind of football. What you refer to as American football is not a very good game. The 2.15% of you who are aware that there is a world outside your borders may have noticed that no one else plays American football. You will no longer be allowed to play it, and should instead play proper football. Initially, it would be best if you played with the girls. It is a difficult game. Those of you brave enough will, in time, be allowed to play rugby (which is similar to American "football", but does not involve stopping for a rest every twenty seconds or wearing full kevlar body armour like nancies). We are hoping to get together at least a US Rugby sevens side by 2005. You should stop playing baseball. It is not reasonable to host an event called the 'World Series' for a game which is not played outside of America. Since only 2.15% of you are aware that there is a world beyond your borders, your error is understandable. Instead of baseball, you will be allowed to play a girls' game called rounders, which is baseball without fancy team strip, oversized gloves, collector cards or hot dogs.
7. You will no longer be allowed to own or carry guns. You will no longer be allowed to own or carry anything more dangerous in public than a vegetable peeler. Because we don't believe you are sensible enough to handle potentially dangerous items, you will require a permit if you wish to carry a vegetable peeler in public.
8. July 4th is no longer a public holiday. November 2nd will be a new national holiday, but only in England. It will be called Indecisive Day.
9. All American cars are hereby banned. They are crap and it is for your own good. When we show you German cars, you will understand what we mean. All road intersections will be replaced with roundabouts. You will start driving on the left with immediate effect. At the same time, you will go metric with immediate effect and conversion tables. Roundabouts and metrication will help you understand the British sense of humour.
10. You will learn to make real chips. Those things you call French fries are not real chips. Fries aren't even French, they are Belgian though 97.85% of you (including the guy who discovered fries while in Europe) are not aware of a country called Belgium. Those things you insist on calling potato chips are properly called crisps. Real chips are thick cut and fried in animal fat. The traditional accompaniment to chips is beer, which should be served warm and flat. Waitresses will be trained to be more aggressive with customers.
11. As a sign of penance 5 grams of sea salt per cup will be added to all tea made within the Commonwealth of Massachusetts, this quantity to be doubled for tea made within the city of Boston itself.
12. The cold tasteless stuff you insist on calling beer is not actually beer at all, it is lager. From November 1st only proper British Bitter will be referred to as beer, and European brews of known and accepted provenance will be referred to as Lager. The substances formerly known as American Beer will henceforth be referred to as Near-Frozen Knat's Urine, with the exception of the product of the American Budweiser company whose product will be referred to as Weak Near-Frozen Knat's Urine. This will allow true Budweiser (as manufactured for the last 1000 years in Pilsen, Czech Republic) to be sold without risk of confusion.
13. From November 10th the UK will harmonise petrol (or Gasoline, as you will be permitted to keep calling it until April 1st 2005) prices with the former USA. The UK will harmonise its prices to those of the former USA and the Former USA will, in return, adopt UK petrol prices (roughly $6/US gallon -- get used to it).
14. You will learn to resolve personal issues without using guns, lawyers or therapists. The fact that you need so many lawyers and therapists shows that you're not adult enough to be independent. Guns should only be handled by adults. If you're not adult enough to sort things out without suing someone or speaking to a therapist then you're not grown up enough to handle a gun.
15. Please tell us who killed JFK. It's been driving us crazy.
16. Tax collectors from Her Majesty's Government will be with you shortly to ensure the acquisition of all revenues due (backdated to 1776).
Thank you for your co-operation and have a great day.
John Cleese
Subscribe to:
Posts (Atom)