japan Attempting to Avoid second Crisis
Economy July 27th, 2009
Prime Minister of Japan Yukio Hatoyama said it would seek to prevent the State Sakura into the abyss of recession both (double-dip recession).
Japan will use the economic stimulus as a tool to avoid deterioration. “Economics should not enter the double-dip recession and we are not going to let that happen,” Hatoyama said yesterday. Hatoyama urged the Japanese parliament approved the additional budget to finance the economic stimulus package.
Hatoyama early December and announced a stimulus package design, including new purchases worth $ 80 billion. Stimulus spending programs, including incentives for people who buy products that save energy, financial support for small firms and fresh funds for companies that have trouble paying its employees salaries. Read the rest of this entry »
Dubai will establish Sharia Banking Academy
Bank July 20th, 2009
DUBAI – Dubai will soon establish Islamic banking academies. Academics Dubai, Dr. Hussain Hamed Hassan said the construction work is expected to start college next few months and targeted operations in 2011.
“This new institution will be supported by Islamic banks in the United Arab Emirates and the leadership of a leading Islamic financial institutions in this region,” Hassan said, as quoted zawya pages, Wednesday (6 / 1).
The institution will have a program S1, S2 and S3 in the field of Islamic finance. Hassan added the establishment of Islamic banking academies is because the number of academics and financial professionals minimal sharia in the country. Read the rest of this entry »
South Korean firm SK Engineering & Construction to build an oil refinery worth 12.5 billion dollars in Ecuador, the project manager said on Wednesday. “SK will be responsible for construction,” said Carlos Proano, the Pacific Refinery, the company says “they conduct research and assist create a union to finance the project, with export credit agencies and other entities. ”
Government of Ecuador and Venezuela, which supports the project as a means to reduce dependence on U.S. refiners, both to justify the project hope to have berita.Pendukung financial place in July, and began work as quickly as possible, with a target for completion in late 2013.
This project will be built near Montecristi Manta, and, on the beach Ekuador.Meskipun tight credit markets and proposed many similar projects in Latin America, Proano said investors from the UK, South Korea and Japan are interested. ”
Capacity of the plant can refine 300,000 barrels of crude oil per day, which is supplied by state-run company PDVSA of Venezuela and Petroecuador. This project was launched in July 2008 by the presidents of both countries.
Strengthen Currency Flow Rupiah
Uncategorized July 15th, 2009
Heavy flows of foreign exchange (forex) is entered in the last three days making the rupiah continued to strengthen. Rupiah for dollars is now in the level of USD 9200 and kept close to the position of USD 9 thousand.
Acting Governor of Bank Indonesia, Nasution Nasution said, the current foreign exchange or capital into it rather quickly in 2 or 3 days lately. But it was not too be seen as something permanent.
“Now it’s a bit stronger, but also must be viewed as in so strong, then weakened a bit, it always ups and downs there,” Nasution said after meeting with the Ministry of Finance, in Jakarta, Thursday (7 / 1).
According to him, the market is now trying to mempredict that the policy rate in the state remained. So that they, competing market players to enter. On the other hand, they also continue to see the policy rate policy in other countries. Including, for example, their own country, America. “Therefore the entry of large foreign exchange was a bit on the last few days,” said Nasution.
However, for future trends, their movements should not as fast as two or three days. Problem BI step, he says no need to explain about it. “For exports and imports should not be affected by the movement of 2 days or 3 days,” he said.
Today the rupiah itself opened in the strongest position 50 points from Rp 9725 per U.S. dollar on Wednesday to $ 9225 per dollar.
Independent economists expressed Adityaswara Mirza, at the beginning of this year’s financial markets opened with enthusiasm to the world economic recovery. So that the stock and bond markets improved.
However, because developing countries (like Indonesia) lebh fast growing economy of the developed countries capital inflows sehigga more. “Besides the U.S. dollar is still weakening. Because of low interest rates and the U.S. economy growing lebh lower than developing countries,” he said.
Mirza projecting rupiah could strengthen slightly under USD 9000. But in the second semester may rupiah weakened slightly again karen dollar rates began to rise and oil prices rose. “The range of this year the rupiah trading Rp 8950 to Rp 9400,” he explained
Oil prices influent Stock Exchange
Stock Report July 8th, 2009
Rising crude oil prices which reached 81 U.S. dollars per barrel, push up the price of leading shares on the Indonesia Stock Exchange, Tuesday.
Composite Stock Price Index (JCI) Stock Exchange closed up 29.864 points (1.16 percent) to the level of 2605.277, the highest level since March 10, 2008.
Research analyst PT Panin Capital, Bayu Aji, said the increase in BEI index was due more to rising stock prices in the mining sector driven by crude oil prices.
In trading in Asia today, the main oil futures contract, light sweet crude for February delivery in New York rose 32 cents to 81.83 dollars per barrel in morning trading, while oil price Brent North Sea crude for February delivery rose 11 cents to 80.23 dollars. Read the rest of this entry »
