Less than a fortnight after Myanmar was hit by Cyclone Nargis that claimed the lives of many innocents, China was thrust into the spotlight as it was struck by a destructive earthquake. This calamity has caused 70,000 lives to be lost and many more have not been found due to the natural disaster. As if that is not enough, the host of the Olympic Games 2008 also suffered from terrible snowstorms and fierce floods in southern China. The quake hit the province of Shaanxi and Gansu the hardest but people are slowly picking up their lives where they left off and are beginning to recover from the tragedy. It will take a couple of months before the structures in these areas will be fully rebuilt.

2 May, 2008 was a black letter day for Myanmar as the raging Cyclone Nargis struck the country, leaving a trail of unimaginable devastation. Almost 150,000 dwellers died and that is only a mere estimation. Homes were destroyed, lives were wrecked but most importantly for the already food deprived people, their crops were badly affected. The people of military-ruled Myanmar are feeling the pinch much harder than before and with the advent of the catastrophe, what little food source left has risen astoundingly high in price. Fortunately the United Nations World Food Programme has stepped in to offer much needed aid in the form of rice rations but it is hoped that the junta will relent and cooperate so that more foreign NGOs can enter the country and offer assistance to the victims.

Russia now has a new leader and unlike his predecessor Vladimiar Putin, the new Russian President Dmitry Medvedev has neither ties to any secret organizations nor the Soviet Communist party. The former lawyer still maintains a close relationship with Putin who is a recognized ex-KGB agent. Winning the elections in March 2008, Medvedev quickly refuted rumors that Putin still holds power as president as he reiterates that he will now be responsible in shaping Russia’s home and foreign policies. Prior to being Russia’s president, his previous job posts includes being Putin’s deputy prime minister and CEO of Gazprom, Russia’s premier gas company.

For the first time ever, oil crossed 120$ marked.  Nigerian rebels have again attacked oil wells and pumps. This has raised concern in US and cause oil price to rise.  In Iraq too, Turkish army has started raiding Kudish insurgents. Both these factors have caused Oil price to increase.  For the last few weeks, many traders have moved into commodities trading as the US dollar has weakened.  These traders have started using Oil as a hedging tool.

Worst ever cyclone hit Myanmar this weekend. As per the government’s officla death toll list more than 10000 are feared to be dead. Around 3000 people are also missing.

Do you know that buying/selling computers was illegal in Cuba? The government had imposed severe restrictions on sale of home computers. Though one might argue that how can Cubans afford a desktop computer of 800$ when the average monthly wage of a Cuban is hardly 20$ a month. But, there are few people in Cuba who can very well afford all luxuries including computers, mobile phones etc. thanks to the money they receive from their relatives staying abroad.

President Raul Castro has finally heeded to demands of Cubans. Many restrictions including sale of desktop computers have now been removed. People who can afford desktop computers, can very well buy them now. However internet access is still banned.

After close to 50 years of being in power in Cuba, Fidel Castro has finally stepped down as the ever resilient Cuban president. He retired after one year shy of holding power in Cuba in February 2008 due to persistent diseases and old age. His brother Raul Castro who is five years younger has been picked to succeed him. Determined to prioritize the needs of the Russian people and to put adequate food on their tables, the new president vows to enrich the agricultural industries with new technologies. He has also announced desire to cut down on bureaucratic red tape but at the same time, he is also expected to continue to act based on advice from his older sibling.