Monday, January 31, 2011

The U.S. Bureau of Economic Analysis advance estimate for Q4 2010 GDP indicated that the
economy grew at an annualized rate of 3.2% q/q after growing 2.6% in Q3, with a heavy drag from
inventories and a boost from consumption and the narrowing of the trade deficit. – Roubini Global
Economics

Mubarak Appoints a New Cabinet: Can He Cling to Power? – Egyptian President Hosni Mubarak
has significantly reshuffled his cabinet and appointed a new vice president in an attempt to assuage
social unrest, but protests continue across Egypt. – Roubini Global Economics
The White House continues to pressure Mubarak to make political changes to the government
but isn’t pressing him to stand down as president. Washington fears creating a political vacuum inside
the country and knows that dealing w/an Egypt w/o Mubarak would be difficult at best, and “downright
scary at worst”.
The US on Sunday said it would be offering its citizens emergency evacuation flights out of the
country and urged all Americans to leave the country as soon as they safely could. Turkey also said it
would be sending planes to evacuate its citizens.
China will become the world's most popular tourist destination within seven years, the United
Nations World Tourism Organisation (UNWTO) has stated – London Telegraph
Egypt Oil Risk – The anti-government violence in Egypt “is not out of hand” said OPEC Secretary-
General Abdalla el-Badri in London today. A closure of the Sumed oil pipeline, should it occur, could
cause a shortage in the market, he said. OPEC is not planning to meet ahead of a scheduled June date
and will raise output if the protests in Egypt and North Africa led to a shortfall of oil supplies. Crude
advanced earlier today amid concern Egypt's anti-government protests may spread to oil-producing
nations. – Bloomberg