Major Business Sectors - Article Example

Article Article Explain How and/or Why You Chose the Article The article Qatar: Major Business Sectors was compiled by the Embassy of Switzerland in 2011 and authored by Ziad Tarakji. Oil is an important aspect of the global economic platform. It is for this reason that the article was chosen for this paper and its clarity in the manner in which it explains the economic success of the State of Qatar that stems from the oil and gas industry. The article also tabulates comprehensively projects and their estimated costs as well as the gross domestic product (GDP) earned from both the oil and non-oil industries for the year 2010. This makes it easy to read and does not take up much of the reader’s time to understand and it can also be used as source of quick and accurate information on the country’s economic status. Finance, real estate, manufacturing and insurance have been listed as the other high contributors towards GDP apart from oil and gas, which means the writer, also acknowledges the significance of other industries in the state’s economic success. What is the Purpose of the Article The purpose of the article was to give an overview of the state’s economic growth as well as the trends the oil and gas industry is adopting. Given the economic situation of the state, which makes it the focal point of the Gulf region, the article can also be said to be giving a general indication of the economic situation of the Arab world. Who (Do You Think) is the Audience for the Article From the contents of the article, it can be deduced that it targets potential investors specifically from Switzerland as well as the general audience interested in the economic activities of the State of Qatar. This can be seen in the persuasive nature of the article’s opening statement that describes the state as “a global success story” (Tarakji, 2011). Identify the Thesis (or Thesis Statement) of the Article “Qatar has emerged as a global success story, as it now continues to be the fastest growing economy in the world with its real GDP expected to soar by around 21 percent in 2011”. This statement serves as the article’s thesis statement since its body describes the economic success while focusing mainly on how the success has been achieved. Explain How the Writer Introduces the Article in the Introductory Paragraph The writer introduces the article in the introductory paragraph by describing the state as one whose economy is the world’s fastest growing and the GDP is still expected to grow considerably. In the paragraph, the country is also described as a success story, which preempts what the article will be focusing on. From that opening statement, which says the country’s economy was the fastest growing in 2011 in the world, the reader is already introduced to it not only as a regional but global player. Identify the Topic Sentence of Each Paragraph of the Article The first paragraph’s topic sentence is the global success of the state’s economy. In the second paragraph, the ranking of the state as the richest one in the world in 2010 forms the topic sentence. Paragraph three’s topic sentence is the projected rise of the state’s surplus budget. The fourth paragraph’s topic sentence is also the one in which the surplus budget is projected, which is similar to paragraph three. The fifth paragraph’s topic sentence is the oil and gas exports being the country’s key pillars of economy, while paragraph six states how oil and gas have facilitated the building of the country’s sovereign wealth fund. Paragraph seven’s topic sentence is the continuing increase in public expenditure in accordance with the government’s plans. The ninth paragraph, which focuses on promotion opportunities, has the topic sentence in the line that highlights how economic growth has rendered the state as the Gulf region’s focal point. The last paragraph’s topic sentence is the one that suggests Swiss companies should initiate a presence in the Qatari market (Tarakji, 2011). What is the Conclusion of the Article in Your Own Words The conclusion of the article encourages Swiss companies to take advantage of the viable business opportunities in the State of Qatar, noting that the companies have not been actively involved in fact-finding missions. This is especially so with the ongoing preparations to host the FIFA World Cup in 2022, which is only eight years away. Essentially, it recognizes the State of Qatar as a credible business partner for Swiss investors. With the listed projects targeted to be completed before 2022, the article suggests that Swiss companies can tap into the business opportunities presented by the service sector (Tarakji, 2011). Briefly (2-3 Sentences) Summarize the Article The article can be summarized describing the oil and gas industry as one of the state’s major business sectors. It gives facts and statistics of the country’s economy based on findings by the Embassy of Switzerland in 2011. Finally, it suggests engineering consultancy, quality control and project management that Swill firms can profitably invest in (Tarakji, 2011). Choose Two Paragraphs in the Article and Do a Text Analysis a) Identify in a Couple of Words the Key Points of Development of Each Paragraph The fifth paragraph explains how oil and gas serve as the country’s main earners of revenue. It points out the country’s membership to OPEC and the paragraph’s key point of development stems from highlighting the fact that it produces an estimated 800,000 barrels of crude oil per day. At that rate, the paragraph estimates, production will last for about 65 years, making the country one of the largest exporters of Liquefied Natural Gas and Gas To Liquid. The paragraph concludes by pointing out that production can be maintained for up to three centuries with 970 trillion cubic feet of proven reserves. Highlight Five Interesting Points of Grammar Five interesting points of grammar in the fifth paragraph include “the main pillars of the economy”; “accounting for the bulk of the state revenues”; “with proven gas reserves”; “last for some 65 years”; and “970 trillion standard cubic feet” (Tarakji, 2011). Interesting points of grammar in the eight paragraph include “the magnitude of economic growth”; “projects in the pipelines”; “taking an aggressive approach”; “absence of Swiss companies”; and “on more than one occasion” (Tarakji, 2011). Identify 5 Interesting Vocabulary Words and Explain Why Interesting vocabulary words include pillars, bulk, fiscal, liquefied and revenue. The term pillar in relation to oil and gas exports is not used in its literal sense but rather, symbolically to mean that the economy has thrived mainly due to oil and gas exports. Bulk symbolizes the larger part of the state’s revenue rather than quantifying it numerically. It only gives an indicative picture of the economy. Fiscal is term used simply to refer monetary values as well as a financial period. The term liquefied denotes the conversion of a substance from one state into liquid while revenue is in reference to government earnings. In the eighth paragraph, the country’s economic growth and volume of ongoing and proposed projects are said to have rendered the country as the Gulf region’s focal point. The paragraph builds on the idea of foreign companies entering the Qatari market aggressively and points out the absence of Swiss companies. Vocabulary words in the paragraph are pipelines, aggressive, magnitude, rendered and focal. It is interesting to note how the writer describes absence as visible, which actually emphasises on how prominent the absence is. The writer also uses pipelines to imply projects that have been proposed or are being targeted. Aggressive in the context of the article emphasizes the motivation and eagerness of investors getting into Qatari markets while magnitude defines the measure of growth the economy has undergone. The term “rendered” as used in the paragraph means the placing of the nation at its current status. Focal means the center of attention. Write 3 Comprehension Questions Three comprehension questions can be written about the article: What have been the key contributors of the economic success in the State of Qatar?; Apart from oil and gas, what are the other main sources of revenue for the State of Qatar?; and Why should Swiss companies consider venturing into Qatari markets? Write One True Sentence (Restatement) and One False Sentence about the Paragraph One true statement about the fifth paragraph is that Qatar is an OPEC member and produces approximately 800,000 barrels of crude oil each day. In the eighth paragraph, the true sentence is that Swiss companies are visibly missing in the State of Qatar (Tarakji, 2011). References Tarakji, Z. (2011). Qatar: Major business sectors. Kuwait: Embassy of Switzerland. Retrieved from www.s-ge.com/de/filefield-private/files/2183/field_blog.../5865 Read More