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Sales of new cars in China exceeded 1 million monthly

2009-10-14T03:43:00.000-07:00

Monthly sales of new cars in China for the first time surpassed 1 million units in September. The number of cars sold is estimated at 1.015 million, making China the fastest growing automobile market in the world this year. Increase compared to the same month last year was 84 percent, cited by Bloomberg. The data of China Association of Automobile Manufacturers show that total sales of motor vehicles including freight trucks and buses, rose by 78% yoy in September to 1.33 million units. Sales of General Motors, which is the largest foreign carmaker in the country doubled in the last 12 months or more amounted to 181 thousand cars in September. During the first nine months of the year sold 1.29 million cars to GM, which is more than a sales company in China in 2008 for all. According to the CEO of General Motors' Fritz Henderson sales in China will continue to grow with significant pace, particularly after the restoration of the Chinese economy increased demand. However, this can cause the government to restrict or entirely stop its measures to promote sales of new cars, including tax breaks and subsidies for the automotive industry. During this year the authorities have reduced taxes for buying a new car and granted subsidies to stimulate sales in rural areas of China. The credit boom in China and government spending to combat the effects of the crisis of 4 trillion. Chinese yuan (586 billion U.S. dollars) helped the Chinese economy to grow by 7.9 percent annually during the second quarter. According to government sales of motor vehicles may increase by 28% this year to 12 million units, but car companies must be careful not to accumulate excess reserves until it becomes clear that growth is sustainable in the long term. For the first nine months of the year vehicle sales in China increased by 42% yoy to 7,2 million units. Meanwhile, car sales in the U.S. declined by 27 percent annually to 7.8 million vehicles.

Sales of Johnson & Johnson reduced, but profit recorded a slight growth

2009-10-14T03:41:00.000-07:00

The Largest U.S. company to produce consumer goods and medical products Johnson & Johnson has increased its profit by 1.1% yoy in the third quarter thanks to cost cuts and increased sales of medical devices. The net profit of Johnson & Johnson for the period from July to September amounted to 3.35 billion dollars or 1.20 dollars per share, compared to the positive financial result of 3.31 billion dollars or 1.17 dollars per share for same quarter of 2008, cited by Bloomberg. Sales of New Jersey-based company fell by 5.3 percent annually to 15.1 billion dollars. Economists had expected to Johnson & Johnson reported earnings per share of 1.13 cents and sales of 15.2 billion dollars in the third quarter. In April, the leadership of Johnson & Johnson said it would cut 900 jobs at its pharmaceuticals unit after the drug sales fell 14 percent due to cheaper alternatives offered by competitors. For the fiscal 2009 the company expects earnings per share from 4.54 to 4.59 dollars, which is higher than previous estimates. Shares of Johnson & Johnson became cheaper by 2.4 percent to 61.05 dollars per share at the beginning of today's session of the New York Stock Exchange. Since the beginning of this year, the company's market capitalization has risen by 2 percent to 168.2 billion dollars. Johnson & Johnson is a component of one of the oldest stock index Dow Jones IA since 1997, making it among the 30 largest and liquid companies traded on the New York Stock Exchange.

First street protest of Bundesbank

2009-10-14T03:24:00.000-07:00

Employees of the German Central Bank - Bundesbank, in Frankfurt today participated in the first street protest in the history of the bank caused by plans to shut nearly half of its branches, officials said. Last month by the Bundesbank announced that they intend to close 14 of its 47 branches by 2012 and another 9 by 2015 plans affect cities like Dresden, Bremen and Aachen is expected close to 300 jobs and transfer other 500 employees . Final decision on the bank will take in December. In June in Frankfurt came a street protest employees other central banks - the European. Moreover Bundesbank was shaken by another scandal. Today a member of the board of directors of the bank - Tilon Saracens, was relieved of some of its key responsibilities because of his controversial comments regarding Arabs and Turks living in Berlin. 64-year-old Saracen is quoted as stating to the magazine Lettre International, that Muslims living in Berlin at the back of the state. He also called for measures to curb immigration. According to him, a large number of Arabs and Turks in the German capital "are not production functions than to sell fruit and vegetables. By Saracen Bundesbank decided to no longer be responsible for the money in circulation. Thus it remains only charged with the responsibility for information technology and risk control in the bank. Against Saracen are indicted in Berlin, including incitement to racial hatred. He apologized for the comments, but ignored demands to resign.

Initiated proceedings against two former managers of Bear Stearns

2009-10-14T03:22:00.000-07:00

In New York opened a case against two former managers at investment bank Bear Stearns on charges of fraud. Ralph Kiofi and Matthew Tannin, managed two hedge funds went bankrupt in June 2007 may receive sentences of 20 years in prison if found guilty. Both deny charges that they knew about the problems of funds, but failed to inform investors that have lost 1,4 billion dollars. Kiofi and tannins are among the top managers of financial institutions facing the court from the beginning of the crisis. Failure of both the fund was among the first signs of problems in the mortgage market, recalls the Air Force. Kiofi there against charges of abuse of inside information, which he also denies. Among the "weapons" against him are the two emails. In a letter to Tania, sent in March 2007, Kiofi writes that fears of more losses from bad mortgage market, than people have imagined. According to the documents the prosecution both have consistently maintained over the more senior management of Bear Stearns, the funds that are in good shape and can continue his successful work. Failure of two hedge fund itself preceded that of Bear Stearns in 2008 Later the bank was bought by JP Morgan. Kiofi names of Ralph and Matthew Tannin were included at the beginning of this year's analysis leads to the names of about 25 people a significant role in the crisis.

IMF reminded to Bucharest to follow the rules

2009-10-14T03:18:00.000-07:00

The International Monetary Fund (IMF) expects Romania to its commitments undertaken through external funding, regardless of who will form the government, said the regional representative for Tony Lübbecke Fund, quoted by newspaper "Ziua" after the Romanian government fell yesterday after a successful vote of distrust. This political instability affects the achievement of the objectives that Romania has set itself with the signing of an agreement with the IMF and the European Commission, especially in terms of structural reforms, the newspaper notes, quoted by BTA. Romanian center-right government of Prime Minister Emil Bock was deposed yesterday after parliament adopted a paid opposition censure. This happened weeks before presidential elections scheduled for 22 November. Total of 258 MPs and senators backed a no-confidence votes, but 176 voted against. For the first time since 1990 the Romanian government fell from power after a vote of no confidence. We remind the country of spring of this year signed agreements the international funding of EUR 20 billion. In late September, it became clear that the country will receive the second tranche of Zeman to the IMF amounted to 1.85 billion euros

Kraft to attempt to buy Cadbury to 10.2 billion GBP

2009-09-09T00:18:00.003-07:00

The U.S. company Kraft has made a bid to acquire British food manufacturer Cadbury products for 10.2 billion pounds. One of the conditions the proposal is to preserve the jobs of the island, including maintenance of plant, purposely closing. The Board of Directors of Cadbury, however, refused the proposal and at present there is no deal, reports BBC. The proposal included Kraft e of 7.45 liras a share, as it should for each share of Cadbury to be paid to 3 liras cash plus 0.2589 shares of the capital of Kraft. Such a price is 42 percent higher than the close of July 3, calculated by the Market Watch. Kraft intentions were to build on already approved products and brands of Cadbury, including over perhaps the most famous product of the company - a series of chocolate Dairy Milk. In this way, you can create a "global leader in the manufacture of snacks, sweets and fast food products. Among the other famous brands of Cadbury chocolates are Green & Black's, pastille Halls, Dentyne and Trident chewing gum, etc.

United States with nearly 70 percent share of arms sales worldwide in 2008

2009-09-09T00:18:00.002-07:00

United States accounted for more than two-thirds of arms sales worldwide last year, a survey of Congress, quoted by the New York Times. According to the U.S. study were involved in 68.4 percent of global arms sales in 2008 of U.S. arms sales rose nearly 50 percent annually to 37.8 billion dollars to 25.4 billion dollars in previous 2007 - despite the global economic recession. In this arms trade globally has decreased by 7,6 percent to 55.2 billion dollars - its lowest level since 2005. Italy, which ranks second, has sold weapons to the total amount of 3,7 billion dollars. Russia was third with sales of 3,5 billion dollars - a drastic decline in transactions compared to 10.8 billion dollars, which was concluded in 2007. The study explains the increase in U.S. sales of new large orders from customers in the Middle East and Asia, and with permanent contracts for equipment and maintenance with American customers.

The real test of U.S. markets rally begins

2009-09-09T00:18:00.000-07:00

After rising for six consecutive months from March to August this year, stock indices on Wall Street will undergo a real test in this and next week, namely a series of grim anniversaries of the securities market in the U.S. and the strengthening of the activity of market participants after the end of the holiday season. During this week the anniversary of the takeover of troubled mortgage banks Fannie Mae and Freddie Mac by the U.S. government. The managements of both companies, which are granted or guaranteed more than half a million mortgages in the U.S., were freed after having amassed billions of dollars in losses from the collapse of the housing market in the U.S. in 2008. A week later went bankrupt investment bank Lehman Brothers, and Merrill Lynch was bought for hours of Bank of America. Only a series of government interventions failed to prevent panic on stock exchanges. Federal Reserve rescue of the threatened bankruptcy of insurance company AIG, the government developed the first version of the plan to rescue the financial system. One year after those dramatic events on Wall Street and six months despite the strong rally of the indices from the beginning of March, the index of the 30 largest stock companies, Dow Jones IA is still 13.5 percent below its level of September 2008 broader index S & P 500 has reduced its value by 15% and technological Nasdaq Composite was down by 7%, cited by CNN. Historically, September is the most difficult month for Wall Street, because it brought the greatest loss of major stock indices. This week, however, is quite poor in economic data and, moreover, is shorter, because on Monday the stock exchanges in the U.S. and Canada will be closed for the celebration of Labor Day.

Lukoil projected average oil price of $ 60 a barrel by 2020

2009-09-09T00:17:00.006-07:00

Lukoil forecasts are for an average oil price of $ 60 per barrel for the period 2010-2020, and it founded the company in preparing its estimates for the extraction of oil for the period. It said the president and co-owner of Russian oil company Cream Alekperov, quoted by Prime-Tass. According to him, Lukoil continues to address the issues of new acquisitions in the coming years, but more will focus on exploration and production sector of the oil. In connection with its deposit of natural gas in the northern Caspian Sea Lukoil intends to build a gas pipeline with a length of 800 kilometers by 200 kilometers of them will be at the bottom of the sea, 600 kilometers - the land is still Alekperov announced, adding that the construction would be costly to the marine part. Gazprom already has determined where it would be the point of connection to the country's gas pipelines. Lukoil boss pointed out that this gas pipeline, which will build the company can become part of ensuring the supply of gas pipeline South Stream.

Life insurance policies may be the next hit on Wall Street

2009-09-09T00:17:00.005-07:00

Once the business with mortgage-backed securities collapsed last year, investment banks on Wall Street began to actively seek another revolutionary way of making money. And it seems to have found in life insurance policies. Bankers plan to buy life insurance policies to elderly and ill people sell for cash. Thus, the investor buys life insurance policies from its owner for an amount less than its nominal value. Example, investment bankers can buy a life insurance policy with a face value of $ 1 million against 400 thousand dollars from its owner. The purchase price will depend on the health of the person and the expected duration of his life. Then will the investment banks securitized these policies, which in other words means that hundreds or thousands of policyholders will be completed together in bonds. Thereafter, the bonds will be sold to large pension funds and other investors. The ultimate purchaser of the bonds secured by life insurance policies will benefit from the difference between purchase price and face value of bills to be paid by life assurance company when the insured persons die. The sooner the insured person dies, the greater will be the return on investment, says New York Times. But in the case that people are living longer than expected, then investors may receive very little profit or even lose money. Both bankers will be a plus because it will benefit from the fees for establishing a bond of their subsequent resale and trading with them. But experts warn the life that these instruments can richer policy premiums. The idea of creating such bonds is still at the planning stage. However, the phones of credit risk agencies that assess the risk of these securities and examine proposals on securitization of other investment banks already overheated by the queries.

Trichet: The economy has stabilized, the prospects are better than expected

2009-09-09T00:17:00.004-07:00

Stabilize the world economy and economic prospects are better than expected earlier, said the President of the European Central Bank Jean-Claude Trichet, speaking on behalf of the leaders of the ten largest central banks in the world. It is now known that many forecasts were revised slightly upward, which indicates that we probably came from the period of free fall marked the last quarter of last year and the first of this, "said Trichet, cited by AFP. However, "it is not excluded road ahead is bumpy," Trichet has stressed, adding that "of course, vigilance remains vital. Trichet met in the Swiss city of Basel with his counterparts from the major central banks in the world.

Lego with strong revenue growth and profitability

2009-09-09T00:17:00.003-07:00

Danish Lego toy company reported strong earnings growth and earnings for the first half, reported DPA. The company, which does not fully take into account their results, has increased its profits before taxes by 64.4 percent to 927 million kroner (124.5 million) annually. Revenues grew by 23 percent to 4.4 billion kronor (591.1 billion). Lego has increased its market share of almost all its markets worldwide, despite the contraction in the toy market as a whole, said CEO Jorgen Vig Knudstorp. Given the good results of the first half, the company is optimistic about the Christmas season, although they do not dare to make accurate predictions. The company has begun to increase its production capacity with new plants in Denmark, Hungary and Mexico.

G-20 and a takeover bid for Cadbury's shares rose in Europe

2009-09-09T00:17:00.002-07:00

European stocks rose for the third consecutive day, after it became clear that the leaders of the G-20 have agreed on actions to restore the global financial system, police Bloomberg. Shares in British food products manufacturer Cadbury Plc jumped 38 per cent after the company rejected a takeover bid worth 10.2 billion pounds of Kraft Foods Inc. Analysts say Kraft's offer may protracted competitive proposals from Nestle and other companies in the sector. By 5,9 per cent shares of appreciated even Lonmin Plc, again because of speculation about the acquisition. According to the Observer newspaper of Xstrata CEO Mick Davis has asked JPMorgan Chase & Co. and Deutsche Bank to explore a possible bid for Lonmin. The company declined comment. Pan-European index Dow Jones Stoxx 600 added 1.4 percent to 237.20 points as all 19 industry groups included in it, reported growth. The market is supported by the recovery started in mergers and acquisitions, analysts comment. G-20 over the weekend reached agreement on draft regulations designed to prevent future similar scale financial crisis. At the same time it became clear that investor confidence in the eurozone rose for the second consecutive month in September. Positive news came and factory orders in Germany. Major national indexes rose in all 18 western European markets. German DAX added 1.5 percent to 5463.51 points, with so grown and France's CAC 40. The UK's FTSE 100 advanced by 1,7 per cent to 4933.18 points.

Women in the British financial firms with 80% less in bonuses than men

2009-09-09T00:17:00.001-07:00

Women in some leading UK financial companies earn about 80 percent less bonuses and other remuneration linked to their performance than their male colleagues, Reuters reported, citing a study by the Commission for Equality and Human Rights. The inquiry, which is includes the 50 financial firms on the island, shows that women in their win 2875 pounds per year from royalties related to their performance at work, compared to 14 550 pounds for men. In the base salary of men and women was there any difference from 39 percent in favor of men, which increased to 47 percent if you add bonuses and other allowances. By the Committee indicate that the financial sector as a whole, this one of the biggest differences in pay between men and women in Britain. Interviewed women who employed a full-time in the financial sector have a 55 per cent less of gross annual salary of men to a difference of 28 percent for the economy as a whole. According to the Bankers Association of the UK biggest difference in pay between men and women in the financial sector due to the choice of lifestyle by women. They choose jobs financial sectors, which traditionally are not given big bonuses. "Women often make different choices about the balance between work and personal life. In the financial sector employs a lot of young people and this may also have an effect on wages, since they are of age, when more women than men, take care their children at home, "the association added.

Hungary receives six months more access to loans from the IMF

2009-09-09T00:17:00.000-07:00

Hungary has implemented the terms of the loan from the International Monetary Fund and the European Union and has negotiated with the Fund to extend access to current loan for six months - until October 2010. This was announced by Hungarian Finance Minister Peter Osko, said. In a separate release of the fund states that the extension of the current financial package aims to cover the period of elections in Hungary next year. IMF and EU grant to Hungary loan of 25.1 billion dollars in October last year.

Ukraine prohibits loans in foreign currency

2009-09-09T00:13:00.000-07:00

National Bank of Ukraine has decided to ban credit in foreign currency from commercial banks in the country as citizens' and companies writes the Ukrainian edition of Kommersant on information from bankers. The decision has not yet been officially announced, nor specify the date from which will come into force. According to preliminary information, this will happen "soon", probably as a "transition period" during which will be possible for some forms of lending in foreign currency. The ban on foreign currency lending in the National Bank of Ukraine aims to stop the devaluation of national currency bracelet, which from the beginning of the crisis has devalued by about 60%. Since late last year the National Bank seeks to make unprofitable loans in foreign currency for the citizens, take measures for their overvaluation. Since June the companies can receive credits in foreign currency only if they have income in foreign currency. Overall, banks are not against the ban on lending in foreign currency, but predict that they will become unprofitable deposits in foreign currency, which at present they are actively attracted. In August, there is even a slight decline in deposits in the bracelets from the previous month, while growth is recorded by a few percent of deposits in foreign currency as citizens and companies that have reached a total of 13.32 billion dollars. To stop the inflow of foreign currency deposits, banks will be forced to significantly reduce the interest thereon. According to bankers the new rules will result in moving the accounts in other countries like Switzerland or the Republic.

UN urged to change U.S. dollars with a new reserve currency

2009-09-09T00:05:00.000-07:00

The role of the dollar in international trade should be reduced by creating a new currency, says UN report cited by Bloomberg. Countries of the UN should agree to create a global reserve bank to let the currency in circulation and to control the national exchange rates in the countries of the organization, regarded by the United Nations Conference on Trade and Development. China, India, Brazil and Russia called earlier this year to replace the dollar as the main reserve currency after the global financial crisis broke by the collapse of the U.S. mortgage market. Now, however, is the first time that a major international organization offers exchange for dollars. Unlike the Chinese authorities, however, the UN does not believe that the special drawing rights (SDRs) issued by the International Monetary Fund, are sufficient to help emerging markets that need liquidity. Emerging markets are under-represented in the IMF and thus receive a smaller share of the total issued SDRs. It should therefore be established an organization to manage the real exchange rates between countries based on purchasing power and adjusted for inflation and the level of development of the country considered by the UN.

Gold samples the level of 1 000 dollars

2009-09-09T00:04:00.000-07:00

Gold price beyond borders of 1 000 dollars an ounce earlier this morning. This happens for the first time since February and is due before the retreat of the dollar in recent times. The dollar retreated sharply, with only between 8:00 to 9:30 local time on its value fell against the euro from 1.4335 to 1,4380 EUR / USD. For the same period, gold advanced to 997.06 from 1 003 dollars an ounce. Pressure on the dollar had spread to a UN report in which the organization first spoke in support of the search for a new reserve currency. For this purpose, the countries of the United Nations should agree to create a global reserve bank to let the currency in circulation and to control the national exchange rates in the countries of the organization, regarded by the United Nations Conference on Trade and Development. Negative for the dollar also proved that the United States yesterday was a holiday and no trading session took place. In the absence of any significant new gold and the dollar managed to remain stable, but until this morning when registered jerky movements. At present it is the most active futures trading of gold for delivery in December. Contracts reached 1 004.80 dollars per ounce during the electronic trading platform Globex, transmit Market Watch.

Reduces the migration of workers, 60% fewer Bulgarians go to Spain

2009-09-09T00:02:00.000-07:00

World recession is a distinct effect on the migration of workers, shows report of the independent Migration Policy Institute, commissioned by the BBC. Fewer people go to work abroad, while those who have already departed, in most cases stay where they are. Moreover, the overall money that immigrants send to their families, are declining. The number of Mexicans who go to work in the United States has fallen sharply - by 40 percent since 2006. The decline is even greater in the case of Romanians and Bulgarians, departing for Spain - with 60 percent, the report said. Immigrants are at greater risk of losing their jobs to local workers, especially given that immigrants are often employed in sectors exposed to the shock in the recession, as construction and tourism. With respect to sending money home, in the case of Turkey, for example decreased by 43% from 2008, a survey suggests. Moldova for a 37% reduction is especially severe because these vehicles are equal to one third of the national income of the country. However, some countries including Pakistan and Bangladesh, which reported growth of money sent home by immigrants. Despite a decline in income faced by many immigrants, in most cases not seen a mass return to their home countries, the report outlines another trend. This may be due to the fact that many immigrants to the economic conditions at home are even worse for them would be difficult and expensive to return later in the country in which they worked. This is particularly about illegal immigrants. However, and this trend has some exceptions. Many immigrants in Britain and Ireland from Central and Eastern Europe are returning to their home countries, where economic conditions are deteriorating so severely. For their decision to return and contribute to the fact that as EU citizens, they can legally be returned later in the country where they worked.

McDonald's losing legal battle against the eight Malaysian Restaurant

2009-09-08T23:33:00.000-07:00

U.S. giant in the field of fast food restaurants - McDonald's, an eight-year legal battle losses, which wanted to prohibit a Malaysian restaurant to be called McCurry. From McDonald's claim that the use of the prefix "Mc" infringes on a copyright trademark of the U.S. chain. The Federal Court in Kuala Lumpur, however, ruled that there was no evidence that McCurry is trying to present as part of "empire" McDonald's, Air Force forward. The owner of McCurry - Pi soups, allegedly prefix "Mc" in the name of his restaurant is an acronym for Malaysian Chicken (from English "Malaysian chicken, editor's note.). U.S. chain, which has over 180 restaurants in Malaysia, has started to sue restaurants McCurry in 2001 In 2006 the Supreme Court ruled in favor of McDonald's, but McCurry turned to the Court of Appeal, which rejected the decision. From McDonald's replied dealt a case before federal court. Pi Soups told reporters after the announcement of the sentence that now will be able to press ahead with development of its business, which includes opening new branches. McCurry began operations in Kuala Lumpur in 1999 restaurant serves Indian food. Lawyers for McDonald's said that the company has adopted the decision.

Finland's economy has contracted by 9.4 per cent in second quarter

2009-09-08T23:32:00.000-07:00

The gross domestic product of Finland has shrunk by 9.4 percent annually for the period April-June, said the Helsinki Times, citing official statistics. Quarterly country's economy has contracted by 2,6 per cent. Slowdown in the first quarter was revised to 3% from earlier announced 2.7 per cent. On an annual basis in the first quarter was reported decline of 7.6 percent. For the second quarter, economists are expecting a smaller decline in GDP of 7.3 percent. Yesterday it became clear that the Cyprus economy has contracted at 0,4 percent quarterly decrease of 0,6 compared to per cent for the first quarter. Annual GDP of Cyprus has shrunk by 1,1 per cent after the first quarter was reported growth of 0,9 percent.

Nearly 15 million tax and insurance paid after telephone reminder

2009-09-08T23:28:00.000-07:00

Total 14.7 million were collected from debtors for month after a phone call or send SMS from the National Revenue Agency (NRA), the agency said. In August, the Revenue Agency began a pilot campaign to notify by phone or SMS to 538 firms and individuals within for unpaid duties. These are debts outstanding, mainly VAT for companies who have declared for tax payment in the budget, but have not paid within the statutory 14-day period. In 90% of call center experts from the NRA are connected to debtors by telephone. Sending SMS has proven very effective and inexpensive means of collecting arrears stated in the message. The price paid by the NRA for a text message at 3 cents, while average debt per debtor paid after a reminder by phone or text message is 27 320 BGN. Most payments are received from the debtors of the regional directorates of the NRA in Plovdiv - nearly 2,5 million EUR, Varna-656 thousand leva, Sofia - 582 thousand BGN and Bourgas - 578 thousand BGN. Of debtors who paid after a reminder by phone or text message, not imposed interim measures (seizure of bank accounts or wages, foreclosure real estate, etc.). Or enforcement cases were brought for compulsory collection of unpaid debts in time, stress by NRA.

The rally continued in Asian markets

2009-09-08T22:58:00.000-07:00

Indexes in the Asian and Pacific region continued their upward movement today after a barometer of business confidence in Australia rose to its highest level in six years, while world markets have adopted the decisions of optimism with finance ministers from the Group of G-20 to tighten discipline in the financial sector. The regional index MSCI Asia Pacific, which monitors the securities markets in ten Asian countries plus Australia and New Zealand, reported a new high of this year. Stock measure added 0.8 percent to 115.10 points during today's session. Thus he turned to the highest level of closing on 4 September last year. Compared with its five-year bottom of 9 March MSCI Asia Pacific has increased its value by 63%. Tech companies have contributed to the greatest extent possible to increase the index today. Thus, market valuation of companies included in the MSCI Asia Pacific, has already exceeded 23.5 times their expected earnings, according to Bloomberg.
The best-known stock exchanges are now in Australia, China and Hong Kong. The main stock index in Sydney S & P / ASX 200 added 1.6 percent to 4523.8 points, after the indicator of business confidence in the country, calculated by the National Australian Bank, increased from 10 points in July to 18 points in August - the higher value than in October 2003. At the same time, Chinese Shanghai Composite rose by 1.7 percent to 2930.5 points, while Hong Kong's Hang Seng rose by 2.1% to 21 069.8 points. This was the fourth consecutive positive session for the Hang Seng and its highest closing level since mid-August. Financial companies led the indexes after the government in China, said that so far there is no limit bank lending. Japanese blue chip index advanced 0.7 percent to 10 393.2 points, despite news that bank lending continued to slow the pace of its growth and business confidence in the services sector and the balance on current account of the country is deteriorating.
The exchange in Taiwan Taiex index rose by 1.2 percent to 7314 points, while South Korean Kospi rose by 0.7 percent to 1619.7 points.

Maldives prepare "green" tax on all tourists - at $ 3 per day

2009-09-08T22:46:00.001-07:00

Maldives plan to introduce a new environmental tax for all tourists who stay in their resorts. Known mostly to luxurious hotels and white sand atolls, the Maldives have always struggled against because of climate change projections that rising sea levels will devour most of the islands in 2100 until last year the government even announced that it will begin to allocate funds for the purchase of new land for the country if the global warming island country disappear under the waters of the Indian Ocean. Over a quarter of the local economy, which has a total value of 850 million dollars comes from tourists, but so far no such environmental taxes. President Mohammed Nashid, which in March submitted plans for the conversion of the Maldives in the first state with zero carbon emissions in the world within a decade, announced that it will soon be introduced environmental tax for all tourists. "Putting green tax is already working on it. Question of parliamentary approval is what I hope to receive - comes to $ 3 per day for each tourist, "explains Nashid told reporters in the capital Male in the archipelago, said. With an average 700 thousand tourists a year who spend an average of three days on the islands, it's around 6.3 million dollars annually.
Nashid in March launched an initiative worth 1,1 billion dollars, which aims to move all the islands of renewable energy and buying carbon credits and secured from the EU to offset emissions from tourists who fly to the islands. The Government recognizes the need for external financing of investment for these plans and travel Nashid the negotiations for the UN climate change meeting in Copenhagen in December. Last month, the president's office said he would not attend the talks because of the budget crisis that forced the country to seek a loan of 60 million dollars from the International Monetary Fund. Nashid said that there are still no plans to attend the talks, "unless someone is not very generous help. I hope someone would do it. " According to him, the Maldives have little influence, but a large bet on the outcome of talks in Copenhagen, which aim to create a successor to the Kyoto Protocol. "The Maldives does not make sense to enter into the Agreement. This is a small country. It is about India, China, Brazil, U.S. to participate. Nobody will win, if no agreement is reached, "he said.

The price of oil jumped nearly 5%

2009-09-08T22:46:00.000-07:00

Futures for crude oil increased its value by nearly 5 percent during trading in New York after the sharp drop in U.S. currency, made earlier in the day. Oil with delivery in October closed at 71.10 dollars a barrel, exceeding the level of 71 dollars for the first time since August 31. Earlier in the day and had reached a level of 71.95 dollars per barrel. Investors remain pending the Wednesday meeting in Vienna of the Organization of Petroleum Exporting Countries (OPEC), of which almost certainly will be received some good news for use in "black gold". According to most analysts on the stock markets are expected OPEC to keep production unchanged until the recovery of the economy oil demand will most likely resume its growth. To maintain production quotas recently suggested some members of the oil organization.

Buffett: The last 18 months were "financial dramma"

2009-09-08T22:45:00.000-07:00

Billionaire investor Warren Buffett always says he loves to go to work every day. While the global crisis because of his wealth is decreased by about accounting $ 25 billion, it has failed to harm his enthusiasm for work. "The last year and a half was very interesting period. Just a drama. To watch the side was fun, participation in the film - also, however, not in what it causes to people's lives, "Buffett said in an interview with New York Times. As repeatedly in recent months, Buffett pointed out "the film continues to play. "We have not yet overcome the problems. Need to bring back to the stalled economy's normal functioning, "he said. Those quotes are from last week and are now included in the analysis of the investment portfolio of Warren Buffett and its development in the crisis. It states that the billionaire was able to take advantage in the difficult times so, "as some people on Wall Street have managed to do so. The analysis says that when the most frightened investors fled, Buffett has invested billions in Goldman Sachs and General Electric, which has brought him substantial profits. That helped for quite serious negotiating loans to two companies with high yield of 10% for the United States. Buffett's portfolio, however, is often composed of unpopular companies, which hampers the small investor in pursuit of profitability by the positions of the billionaire, says even in the material.

Russia became the world's leading oil exporter

2009-09-08T22:43:00.000-07:00

Russia came first in the world in exports of petroleum and petroleum products, ahead of Saudi Arabia, said the newspaper Kommersant, citing data from the International Energy Agency (IEA) for the first and second quarter of the year. Russia has not occupied the leadership position in oil exports from the dissolution of the USSR, while Saudi Arabia is the traditional leader in this indicator. During the second quarter and when oil exports to Russia reached 7,4 million barrels a day, while exports to Saudi Arabia for the second quarter fell to 7 million barrels a day from 7.39 million barrels in the first quarter. For the first three months of this year exports to Russia was 7.25 million barrels a day. Meanwhile, analysts remind us that the volume of exports of Saudi Arabia depends on the quotas set by OPEC on production, while those in Russia will. The increased volume of oil exports, Russia is associated with increased yield, which for 2009 is projected to be about 490 million tons, or a growth of 0.4% compared to 2008 last year for oil extraction in Russia was 488 , 1 million tons, which was a decrease of 0.7 percent over the previous 2007. In the opinion of the Minister of Oil Industry of Saudi Arabia, currently the world oil market is in good shape, no deficit, and arrange a price consumers and producers. Oil Minister of Kuwait, in turn, predicts that by the end of the year there will be fluctuations of oil prices in the 60-80 dollar per barrel.

China is entering an increasingly bold on the market of passenger aircrafts

2009-09-08T22:42:00.000-07:00

Chinese aviation company, presented the design of its biggest passenger plane, which will have 190 seats. It is called the C919 and will be subjected to a test flight in 2014 If successful mass production and sale of C919 will begin in 2016. The country has become the second largest and fastest-growing market for passenger aircraft in the world. Studies suggest that demand for new planes from Chinese airlines will increase five times over the next 20 years, which means orders of more than 2 thousand aircraft. It is from this major niche market would benefit future producers of the biggest Chinese passenger plane - the airline Comac. It is a subdivision of the state corporation Aviation Industry Corporation of China, sent BBC. The management of Comac hopes to put the new plane parameters for the overall modernization of the aviation industry in China, which so far has mostly emphasized the development of military, rather than passenger aircraft. In November last year, China held the first successful test flights of the whole country works in the airliner ARJ-21. His producer Comac received 208 confirmed orders and unconfirmed for 90-seat aircraft so far. Comac of communication is another step towards achieving long-term goal of China to produce more goods for their domestic market. Thus, Chinese companies and the economy as a whole does not depend so much on consumption in the world. The market for passenger aircraft in China is the focus of Europe's Airbus and U.S. firm Boeing. Became the first Airbus aircraft producer in the world to build its factory in China, and recently delivered the first aircraft, which is entirely manufactured in Asian countries.

USA Indexes started the session with growth

2009-09-08T22:40:00.000-07:00

This week the first trading session in the United States began with the main index increased after the securities markets remained closed on Monday due to the celebration of Labor Day and ended last week on negative territory. Investors took the news with optimism for the unification of the two largest mobile operators in the UK - T-Mobile and Orange. The revival of interest of companies to mergers and acquisitions is interpreted as a positive sign for the economy. At the beginning of this week, another company, but the food industry, attempting to swallow a competitor. U.S. confectionery manufacturer Kraft offered 10.2 billion pounds per British rival Cadbury, which, however, rejected the offer. Shares of Kraft cheaper by 5.2 percent to 26.64 dollars per share on the New York Stock Exchange. Since the beginning of this year the market capitalization of the company, which participates in the index, Dow Jones IA, has fallen by less than the percentage to 39.2 billion dollars. The index of the 30 largest stock companies Dow Jones IA increased by 0.5 percent to 9486.5 points in the first hour of trading. The wider S & P 500 advanced by 0.7 percent to 1023.5 points while the index of companies by the exchange Nasdaq - Nasdaq Composite, rose by 0.5 percent to 2029.1 points. Shares of companies from almost all sectors expensive at the beginning of the session, with the exception of the health sector. Most increased its market capitalization extractive and energy companies, backed by soaring oil and metals.

2009-09-08T22:39:00.000-07:00

The German government insists that General Motors (GM) to clarify its intentions regarding the Opel launched against the American manufacturer the opportunity to maintain its European division. "To say" I'll keep Opel "is not yet a strategy," said Secretary of State on Tuesday in the economic ministry of Germany Jochen Homa, said. Government of a country that firmly stands behind the offer for the purchase of Opel from the Canadian Magna International, stresses that it is tired of protracting of GM. The Management Board of General Motors meets Tuesday and Wednesday to discuss the future of Opel. Berlin say they would like to reach a decision as quickly as possible, more so approaching Motor Show in Frankfurt. The exhibition will be opened next week and within its Opel will present the latest modification of its key model Astra. In May, GM announced that it agreed to sign a deal with Magna, but eventually the company's position has changed - after the release of the insolvency proceedings on 10 July. According to unnamed sources, Reuters on some members of the Board of GM are confident that Opel should remain in the group of U.S. producers.

Air-sector flew over the hardest by the crisis

2009-09-08T22:37:00.000-07:00

The major Avio-constructors airlines and find more signs indicating that the crisis in the sector, the worst in its history may be completed. According to Airbus, which is currently the largest producer of airplanes for civil aviation, the overall air traffic has passed through "the lowest point of recession and recovery expected next year. We believe that in 2009 air traffic will fall by 2%. In 2010 we may see an increase from 4,6 per cent, told Reuters Laurent Rouen, vice president of the European team during the avio-show in Hong Kong. An example is given and Air France-KLM, which reported a decline of 2.9 percent of passenger traffic in August, but the Franco-Dutch company stressed that it is able to improve their rate of employment on aircraft at 84.8 percent, or growth by 1,1 percentage points compared to August 2008

The third consecutive session of growth for U.S. indexes

2009-09-08T22:32:00.000-07:00

The main U.S. stock indexes saw increases on Tuesday, which registered a third consecutive trading session in positive territory. Dow Jones Industrial Average added 0.59 percent to its value to the level of 9497 points. The increase in the Nasdaq Composite went up to 0.94% until 2038 points, where S & P 500 - a 0.88 percent to 1025 points. The profits helped the strong rise in raw material. Oil increased its value by nearly 5 percent, and gold for the first time since February jumped the border from 1000 dollars an ounce, although it ended the session in New York below that level (at 997.90 dollars an ounce). For the good mood of investors contribute to observed in recent days increased interest in large corporate mergers, as evidenced by the unification of the two largest mobile operators in the UK - T-Mobile and Orange, and the experience of U.S. producers of confectionery to Kraft buy British rival Cadbury. Cadbury bid was 10.2 billion pounds, but it was rejected by the company. Shares of Kraft fell during a session on Tuesday to 5.8 percent, at the time of OTC trading higher. Leaves in New York Cadbury did increase its market capitalization by as much as 38%.
The party ran out of the winners and papers of motorcycle manufacturer Harley-Davidson, after Citigroup raised its recommendation on the company to "save" from "sell." Growth in the position amounted to 7.4%. The total market growth was not influenced by negative data on a record decline in consumer credit in the U.S.. Reported a decrease in July was 21.6 billion dollars in the expectation of -3.5 billion.