Byzantium and Islamic East - History Essay Example

BYZANTIUM AND ISLAMIC EAST

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The middle Byzantium period is associated with the medium Islamic culture when power and prestige were the basis of competition between the cities of Baghdad, Damascus, Cairo and Cordoba in a span of 400 years.

During the period the governmental and cultural continuity of the Byzantine state contrasted myriad transformation even though the strength of both realms waxed and waned. There existed some universal pretension of authority in the city of Baghdad, the capital of Abbasid caliphate as there was one ruler, even though some distant rulers like Umayyad of Cordoba maintained independence (756-1031).

The unity of Islamic world had been irretrievably shuttered by the end of the middle Byzantine period. Fragments of the once unified empire of the Umayyad and early Abbasids rose and fell. Most countries including the closest rival of Byzantine Empire maintained nominal power by submitting to the Mongols.

During the mid- ninth and mid-tenth century, Byzantine Empire gained in strength. Abbasid rule, court ceremonials became increasingly fragmented as caliphs withdrew from active control of the empire. The second phase that was the mid-tenth and mid-eleventh century is associated with the height of Byzantine power.

The first two stages, Byzantine-Abbasid relations were of paramount importance as a result of customs of Abbasid court were emulated by rivals and successors. Byzantine became the chief antagonist of the Muslim rulers during Umayyad period(661-750).Byzantium architecture was considered an important challenge to Muslim prestige.

The degree to which Byzantium-Abbasid relations moved along several distinct but intersecting tracks in typified by interchange and Theophilus (r.829-42) and al-ma mum (r.813-35).Whose reigns were marked by a sequence of raids of retaliatory incursion. Cultural and artistic interrelations that took place along the Byzantine-Islamic boarders in the northern Syria and Anatolia differed from those that developed at Abbasid, Fatimid and Umayyad courts.

Although Muslims armies first entered Anatolia during the Umayyad period, the region remained predominantly Christian and Byzantine expansion during the ninth and tenth century eliminated Muslims Fortier claims. The situation was later reversed in late eleventh century when crushing defeat inflicted and Byzantine army in 1071 at Mantzikeer, north of Lake Van, opened Anatolia to waves of Turkish settlers.

THE UMAYYAD DOME OF THE ROCK IN JERUSALEM

The Umayyad done of the Rock in Jerusalem is commonplace of classical Islamic religious writing. Some of the three places named Mekkah, Medinah and Jerusalem were considered as holiest, and pilgrimage places of faith by the prophet himself, hence liturgical requirements, sacred memories, and traditions acquired a monumental expression.

History about the religious topography of Muslims holy places significant sacred spot structure have been given by explained by different Scholars, writers, and travelers based on description and identification. To completely solve the problem on different questions raised, the researcher should not only focus on identification and description but should consider major sanctuaries of Islam in their historical context.

Among the Muslims holy places in Jerusalem occupies a slightly less important place than the two Arabian sanctuaries, for example, the Palestinian city as more important in Umayyad, Ayyubid and Mamluk times than under the Abbasids or the Fatimids. J.Sauvagil masterly study succeeded by text and limited archeological documentation, giving details on the central monument of Islamic religious architecture in the Umayyad periods.Recent studies by K.A.C Creswell, J. Sauvagil, and R.W Hamilton gave a good idea of nature of Umayyad mosques explaining reconstruction and dating processes leaving it for interpretation. The dome symbolizes the earliest major construction built by the new masters of the near east.

Some of the first mosques were not very imposing and little is known about them, but their dome of the rock remained to the day remarkable architectural, artistic achievement by Islam. A simplified geographical description was later given by Father Marmarji that was later translated by different scholars into different languages.

Traditions which were associated with Haran in the group of fadd'il in Mamluk period were not introduced in Umayyad period. Two explanations are given for the construction of Umayyad Dome of the Rock. The first one was adopted by Creswell in the year 66-72 on a historical circumstance and the other while the second one was accepted by the faithful in connection to the exegesis of Surah 17, verse 1 of Koran.

Dome of the Rock later influenced the development of Qubbahs and Welis, moreover with the development of mysticism; the concept of Mohammed became one of the richest and profound themes of Islamic thought and reached even the frontiers of spiritual progress. The building of the dome of the rock also influenced the acquisition of sacredness of Haram area in Jerusalem for much greater than original temporal significance at the time of the revival of Umayyad.

CAPITAL BUDGETING

Capital budgeting can also be referred to as capital investment or appraisal. It is a planning process that is applied in the determination of the organizations long term investment projects such as new products, new plants, new machinery, replacement of machinery and how to fund them from the firms capital structure

TECHNIQUES USED IN CAPITAL BUDGETING

The common techniques used in capital budgeting are discounted cash flow techniques. In most cases, only three discounted techniques are used, they include; Profitability index, NPV, which is the net present value, and internal rate of return.

Internal rate of return (IRR)

This is a discounting method used in calculating the return on investment per rate. It does not incorporate environmental factors and thus the name internal rate of return.

Uses of IRR

It is used in capital budgeting to compare their profitability and investment. They are commonly used in projects to calculate the desired investment strategy.

Calculation

Given the discounting rate and period and cash flows the IRR follows from the NPV as the rate of returns function. The rate of return is a considered internal rate of returns function, which is zero.

The only problem that arises when using the IRR method is that the calculated IRR should not apply when rating projects that are mutually exclusive but only used to determine the viability of a given project wand whether its worth investing in it.

Special situation for discounting factor analysis

There are some special situations that DCF analysis comes in. They include:

when the company has few constraints of capital and the projects are independent

if the firm has a capital rationing

when the firm has a higher capital base to invest

How to solve the PI and IRR problems

Profitability index (PI) and internal rate of return (IRR) are not good at comparing two mutually exclusive projects, but both can be used when choosing a single suitable project. Therefore, PI and IRR can be used when making the decision to move from a small project to a larger one.

TOWARDS A NEW AGE

The later ninth and early tenth centuries were difficult time as this was the first appearance of sea-borne raiders known as Vikings who in 792 sacked the monastery of Lindisfame, who mostly originated from Denmark and Norway who later in subsequent years returned to eastern England targeting wealth and opportunities up to mid-ninth century when They started operating as large armies sailing up the Rhine among other rivers to suck important cities like Paris and others. This lead to the destruction of many churches and monasteries.Italy in its southern and central parts was attacked by Muslims who conquered Sicily after 827 and from that base attacked Rome in 846, this resulted in the looting of the St Paul and St Peter extramural Apostolic basilicas. Surprisingly, Europe Christians States survived the crisis making them grow stronger and confident; they became compact and well-organized state towards the end of the ninth century, like maritime city-state in Italy and central Europe. The decisive defeat of Magyar of the central Europe in 953 strengthened the Saxun king Otto 1's claim to dominance within Germany and his claim to supplant the Carolingian dynasty through elevation of title Roman Empire in 962.

Vikings also served as the vanguard of the expansion that marked the next millennium of Europe history, reaching out to Iceland among other countries. It also served as Varangian guards protecting the emperor in Constantinople as some made contractors with culture in Sweden. The Christianity and Christian art adopted by Iceland and Magyars were not, of course, the religion and art of early Christian but the Carolingian world. Christ dome expanded in part by absorbing the Vikings and Magyars invaders, whose conversion to Christianity during the ninth and tenth century marked an error where first Christianity moved beyond Roman boarders.