Abid Ali

Abid Ali's picture
Abid Ali
Business Editor | Qatar
Biography

Abid Ali has more than a decade of experience covering global business.

Before joining Al Jazeera as business editor in 2008, he edited and copyedited business news at CNN - both on air and online. He has also covered markets and big industry as a reporter for Bloomberg News.

Latest posts by Abid Ali

By Abid Ali in Business on November 1st, 2011
European stocks open sharply down as proposed referendum on Greek bailout casts doubt on eurozone recovery prospects. [Reuters]

We had a deal of sorts from the eurozone leaders - but it was a terrible deal for Greece. Now it seems the Greek Prime Minister George Papandreou has flown back to Athens, and in the cold light of the day, realised he and his people had been sold down the river. Hence a referendum. 

You see German Chancellor Angela Merkel wants to keep kicking the can down the road. There is no legal framework to stop eurozone nations spending beyond their means. And the German nation doesn’t want to bailout anyone - by coming forward with an incomplete deal the pressure is on Italy, Spain and France to find more austerity measures. It’s the German way of keeping the house it built in check, let the markets (bond investors) demand more interest of new bonds sold.  

Merkel and French President Nicholas Sarkozy may not want to read this: but can you believe the world’s biggest and richest trading block is begging China for money?

By Abid Ali in Europe on July 8th, 2011
Rebekah Brooks (Getty Images)

Are people who run companies and organisations a breed apart? What makes some climb to the top of an organisation and others join a crowded hamster wheel?

Rupert Murdoch hasn't got to the top without cracking a few eggs along the way.

Ruthless and calculating - from his takeover of the News of the World to taking on the printers and now closing down the tabloid. All part of the makeup of businessmen - without regulation they would run amok!

And here's the thing, your boss probably has a favourite someone s/he's grooming for the top. They often call this mentoring.

How do you get to become the apple of your boss’s eye? Some bosses see a little of themselves in young upstarts. Some share an interest, run in the same social circles or meet in designated smoking areas.

Just take a look outside the boss's office - see who's queuing to get in. They are the least competent people. You'll wonder why they have been promoted?

By Abid Ali in Business on June 23rd, 2011

The "West" is quick to point the finger at OPEC whenever oil prices are on the rise. All manner of statistics are produced to blame OPEC nations for their economic troubles.

Take for example that the cartel's members would earn $1 trillion dollars this year as crude trades above $100 a barrel. It may be so.

But let’s not forget that almost $600bn leaves these oil producing nations in remittances (western immigrants benefit as well), company profits (Western oil companies, included) and through the import of consumer goods. In effect, these nations are keeping the global economy ticking.

Let’s be clear, OPEC nations produce 40 per cent of the world’s oil. That means there are nations that produce the other 60 per cent.

By Abid Ali in Business on January 7th, 2011

Is this YouTube video proof that China has developed a stealth fighter jet? The origin of the video is unclear but the fact that Chinese censors allowed it to be posted on domestic websites indicates that it may have been leaked with the approval of the authorities.

The J-20 stealth bomber could challenge the US air force's F-22 Raptor. India and Russia recently signed an agreement to develop their own stealth fighter.

Tags: China
By Abid Ali in Middle East on December 18th, 2010

Qatar Airways board is discussing the possibility of ordering more A380 Airbus superjumbo planes, the airlines chief executive Akbar al-Baker told Al Jazeera.

The airline has five 555-seat double-decker planes on order and expects to order more, al-Baker said. He would not say how many the airline would order except that he was willing to consider Rolls Royce engines despite a recent blowout on a Qantas A380 jet.

Al-Baker was opening the new temporary arrivals terminal at Doha International airport on Saturday.

By Abid Ali in Business on November 25th, 2010
Photo by EPA

Would you give money to someone in debt?

Tough question I guess. You would ask yourself what is the possibility of them paying you back.

How would you feel if the money you give was guaranteed?

I think you would step up.

Now here’s the problem. Bond holders to the troubled economies of Greece, Ireland, Portugal and Spain have been offered unwritten guarantees. They have been banking on Germany stepping in to help bailout Europe’s laggards.

The lady who triggered the latest crisis that has Ireland taking its begging bowl to the European Union and International Monetary Fund is at it again. And she’s right.

German Chancellor Angela Merkel said:

Have politicians got the courage to make those who earn money share in the risk as well? Or is dealing in government debt the only business in the world economy that involves no risk?

By Abid Ali in Business on October 19th, 2010
Photo from AFP

There’s a race going on right now. A "war" if you take the words of Brazil’s finance minister, Guido Mantega, to devalue currency. The reason is simple: by keeping your currency low against your competitor you will export more.

Timothy Geithner, the US treasury secretary, says his country  is not involved in currency manipulation. On the other hand, the US accuses China of being a currency manipulator and has delayed publishing a report to this effect.

"It is not going to happen in this country." Geithner said.

It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive.

By Abid Ali in Business on September 13th, 2010
Photo by AP

Kabul Bank is a private bank. A monopoly, if you like: the only avenue for government employees to receive their salaries.

A great money making machine. A bank that likes to say its "Touching Hearts, Changing Lives" - it certainly has for its shareholders.

In America’s attempt to break the stranglehold of the informal cash economy, mostly the hawalas - used to transfer vast amounts of money that they fear is driving the insurgency and drugs trade - they've inadvertently created a behemoth on an Afghan scale.

In fact, Western Union is the preferred partner for remittances.

I want to share some numbers with you.

By Abid Ali in Business on September 8th, 2010
Photo by Getty Images

It sounds like the start of a joke. But these are the thoughts of Michael O’Leary, the chief executive of low-cost airline Ryanair.

O’Leary would like to fly short hop routes with only one pilot.

Let the bloody computer fly it,

he tells Bloomberg Businessweek. If the pilot was to have a heart attack then the flight attendant should land the plane, he says.

O’Leary tells the Financial Times that trains only have one driver.

In 25 years with over about 10 million flights, we’ve had one pilot who suffered a heart attack in flight and he landed the plane.  

Tags: Leary
By Abid Ali in Business on July 27th, 2010
Photo by Reuters

Tony Hayward paid a heavy price.

In stepping down as the chief executive of BP he’ll cushion the blow with a 1.6 million dollar pay-off, and that does not include his pension pot of 900,000 dollars a year.

A heavy price when we consider the Lloyd Blankfien is still the chief executive of Goldman Sachs and Toyota’s Akio Toyoda is still the president. 

It will be a matter of time before Transocean, the owner of the drilling rig BP was leasing, and oil engineering contract Halliburton have to answer for their actions. All the signs are that BP was not to blame.

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Biography

Abid Ali's picture
Abid Ali
Business Editor
Abid Ali, Al Jazeera's Business Editor, has covered global business for over a decade.

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