Elephant, state of negative equity if the liabilities

Elephant, the Year of the Traditionally, this has been considered the year in which the Prophet Muhammad was born, 570 ce. The name comes from the historical records of an attempted invasion of Mecca by a Christian army, led by Abraham, with the intention of destroying the Ka’bah (a significant revered structure even before Islam). According to the story, the army included one or more war elephants, which refused to enter the city, kneeling or sitting down when they faced the Ka’bah, but acting normally when facing any other direction. The tribes of the region came together to defend the city and the attack was thwarted. According to the Qu’ran, the army was then attacked by birds carrying stones which were used as missiles, which finished off the army.

This story is used to demonstrate the power of the Ka’bah. Some historical research suggests that this attempted invasion happened perhaps a year, or possibly a decade, before the birth of Muhammad, however. Before the Hijra, the Year of the Elephant was used as the starting point in the Arabian year numbering system.emir A prince, ruler or military general in Arabic culture.

emirate The land or territory ruled by an emir; a modern example is the the United Arab Emirates.equities Stocks in a publicly owned company which are freely traded. They grant their owners a share in the profits of the company as well as annual dividend payments.equity Total ownership in a company in terms of stock, or the total assets minus the total liabilities in a company. It is possible to be in a state of negative equity if the liabilities exceed the assets (that is, if what is owed on a property exceeds its value, so that even selling the property at its current value would not raise enough money to repay the mortgage lender).equity fund, stock fund A fund that invests in the stocks of a number of companies in order to make a profit from capital gains and dividend payments.equity participation An arrangement where the lender of funds to a company also takes a share in the company’s equity, rather than simply being paid back and playing no further part in the company’s fortunes.