www.ntv.co.ke Tenants living in urban areas, especially in Nairobi should prepare to pay higher rents. This was the key highlight of the recently released property market index survey conducted by Hass Consult covering the second quarter of 2012. The report shows that rent in urban areas has increased ten times compared to two years ago which the report attributes to an increased demand for housing. In the same breath, the report indicates that fewer Kenyans are taking up mortgages with a good number of people preferring to pay rent which the company attributes to the high interest rates offered by financial institutions.
Yemeni Parliament released a report April 5 showing six million people in the country are currently unemployed due to the unrest in the country last year. Yemen saw heavy unrest in 2011, with outbreaks of protests and demonstrations originally against unemployment, economic conditions, corruptions, before eventually aiming altogether at former President Ali Abdullah Saleh, the country's leader at the time. The unrest came to an end as power was transferred to the Yemen's Vice President Abd Rabbuh Mansur Al-Hadi. Still, damage from the unrest lingers, making the already high unemployment rate even more worrisome. The report pointed out that the country's political crisis led to stalling economic development and sharp decrease of job opportunities. Yemen's unemployment rate would reach 36 to 40 percent, according to the report. However, economists believe the figure is even higher. "The unemployment problem has long existed in Yemen, since years ago. The unemployment rate is almost over 65 percent now. Yemen is faced with great problems and outbreaks of humanitarian crisis has to be feared," said Ahmed Shamakh, an economist. Crowds of workers carrying tools can be seen on the streets of Sanaa everyday, waiting for employment. Being the main laborers in their families, unemployment meant nothing pleasant for their families. Most of workers spend five days waiting with no results every week, and if money is earned, it is rarely enough to pay for rent or utilities. "I only had ...
In "Secret History of the Credit Card," FRONTLINE® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt. "The almost magical convenience of plastic money is critical to our famously compulsive consumer economy," Bergman says. "With more than 641 million credit cards in circulation and accounting for an estimated .5 trillion of consumer spending, the US economy has clearly gone plastic." Millions of American families use their personal, general-purpose credit cards such as Visa, Mastercard, American Express and Discover to make ends meet; credit cards have been a discreet lifeline for families in financial straits. But other consumers, like actor and author Ben Stein, use plastic purely for convenience. While it would appear that Stein -- who says he charges a small fortune every month on his credit cards -- is the ideal customer, in reality, he is what some in the industry call a "deadbeat." That's because he pays his balance in full every month. The industry's most profitable customers, the ones being sought by creative marketing tactics, are the "revolvers:" the estimated 115 million Americans who carry monthly credit card debt. Ed Yingling, incoming president of the American Bankers Association, tells FRONTLINE that revolvers are "the sweet spot" of the banking ...
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