Obama Will Limit the U.S. Investment Banking Activities
Finance May 30th, 2010
President of the United States (U.S.) Barack Obama will submit a proposal to restrict the rules of banking activities in the country. Specifically, Obama wants to restrict the activities of investment banks buying assets or shares to profit.
“Activities that have nothing to do with the interests of customers,” said Obama in an interview with ABC, as quoted by Bloomberg, last week.
Transactions are usually called proprietary trading practices are the cause of speculation in the U.S. property market is the cause of the crisis in 2008. So, go Obama, limiting the size and activities of financial institutions necessary to reduce excessive risk.
This proposal will become part of the reform of financial regulation that will govern the perpetrators to behave reasonably. “U.S. financial regulatory system currently is not enough to watch the extra risks and player behavior irresponsible,” Obama said.
Close of business “private equity”
The proposal would force the U.S. banking giant, such as JP Morgan, Goldman Sachs, and Morgan Stanley, the business unit to sell their private equity. Can not be denied, big banks like Goldman would lose a lot of revenue.
Understandably, the business was, in the last year Goldman became the most profitable bank in Wall Street history. More than 90 percent of income before tax from Goldman Sachs private equity unit is.
Managing Director of Goldman Sachs Lloyd Blankfein said, the company must generate their own profits in order to cover losses that occur due to the crisis in 2008.
State government plans Uwak Sam is actually not much different from the British Government did. A month ago, the financial services authority in England has announced plans to restrict the proprietary trading at banks. As a result of the rule, the country’s banking industry must set aside capital reserves to 47 billion U.S. dollars to cover potential losses from the business.
This rule is not a criticism. Bruce Ettelson, legal consultant at Kirkland & Ellis LLP, says, this will impact on the rule change on Wall Street and many business deals have been agreed previously. “This rule also increasingly shrinking sources of funding for private equity and hedge funds,” he said.
Won & depreciation of the peso led Asian currencies
Forex May 30th, 2010
Asian currencies weaken, led by the South Korean won and Philippine peso against the dollar on concern China will restrict kredi to hold regional export demand.
The MSCI Asia-Pacific Index dropped to the lowest level during 2010 after Reuters reported several banks in China to provide cash to increase reserves. Pressure on the won continues triggered by a report that GDP fell to 0.2% in the quarter IV of 3.2% the previous period.
“Asian Currency weakens influenced China talks about the possibility of doing the tightening and asked a number of banks to raise reserve ratios again. This led to indiscriminate selling Asian currencies, the yen strengthened on the other hand,” said Joanna Tan, a regional economist Forecast Singapore Pte.
Won weakened 1.3% to 1165.50 per U.S. dollar at 2:18 pm in Seoul and had time to reach 1166.50, its lowest level this year. Peso weakened 0.5% to 46.47 and the Malaysian ringgit to be depressed 0.6% 3.4205. Rupiah also down 0.4% to 9380.
China’s central bank earlier this month the bank raised compulsory registration deposits 0.25% to 16% to keep credit growth and prevent asset bubbles in shares and property.
Reports of credit tightening reduces the demand for shares in China market. This causes the Shanghai Composite Index fell 2.3%. While the external market is also down.
On the other hand, the yen and U.S. dollar gained on the euro. The yen strengthened to 126.44 per euro in Tokyo, from 127.75 in New York yesterday. U.S. dollar increased to USS1, 4092 per euro.
Taiwan dollar strengthened encouraged by government reports of a record increase in manufacturing production. The data that was launched this month showed Taiwan exports rise in line with the decline in the unemployment rate. Achievement was raised currencies to its highest level since September 2008.
“Taiwan dollar appreciation as a result of moving the entry of hot money into Asia, including Taiwan. The central bank is always in the market to overcome the high volatility,” said Tarsicio Tong, forex dealers Union Bank of Taiwan in Taipei.
South Korea’s economic growth slowed during the quarter IV exceeded the median estimate of the economy. Kim Myung-Kee, the Bank of Korea officials, said the slowdown that occurred in October through December is only temporary adjustment does not affect the national growth momentum.
“Global economic recovery is still in process and should be recognized, not as smoothly and as quickly as expected. So the market is still moving volatile during the quarter I,” said Lindawati Susanto, head of FX Trade PT Bank Resona Perdania in Jakarta.
Singapore dollar weakened 0.4% to S $ 1.4041 per U.S. dollar, Thai baht depressed 0.2% to 33.02. China Yuan unchanged at 6.8269
The yen weakened on the 16 major currencies
Forex May 21st, 2010
: The yen weakened the currency 16 main partner countries associated with the prospect of Federal Reserve Governor Ben S. Bernanke back to his post for the second period and continued economic recovery in the country in the world’s largest.
The yen weakened ATS euro for the first time in 8 days after President Barack Obama received assurances from the Senate office about the survival Bernanke. U.S. dollar weakened against a number of currencies with higher yields following a report by economists estimate that home sales in the U.S. fell in December.
“Slowly kondiri improved during Bernanke served. So far, the Senate gave support. It has the potential to raise the sentiment, ’said Robert Rennie, head of currency research Westpac Banking Corp. Sydney.
The yen weakened to 127.31 per euro at 9:11 pm in Tokyo, from 126.98 in New York on January 22.
The median estimate of economists say home sales in the U.S. fell to 6 million per year in December, from 6.54 million in November. National Association of Realtors will publish the data today.
According to the 91 economists surveyed, the Fed would keep overnight interest rates between 0% and 0.25% on January 27.
Metrodata Appoints Business Leader in Children
Company Info May 21st, 2010
PT Metrodata Electronics Tbk (MTDL) announced a change in organizational structure that occurred in a subsidiary of PT Mitra Integration of Information (MII) and Soltius Asia Pte Ltd, Singapore (Soltius).
As quoted from a written statement to the Legal, in Jakarta, Monday (1/2/2010), Eko Heryanto, will lead the MII as the President Director replacing Sjafril Effendi.
As President of the new MII, Eko Heryanto have the responsibility to manage the MII, assisted by Susanto Djaja, as Director of Finance. Hendra Kusumawidjaja as Director of Presales & Delivery, MA as Director of Telco Lumaksi & Business Solution, Danny Suryadharma as Director of Enterprise Business Unit & Financial Services Industry Solutions and Corporate & Commercial Business Unit & Product.
Solution will still be handled by Eko Heryanto. Sjafril Effendi will occupy a new position as Regional Managing Director who will oversee Soltius PT Soltius Indonesia, Thailand Limited and Soltius Australia Pty Ltd Soltius. In addition, fixed Sjafril Effendi MTDL served as Director, President Commissioner of PT Soltius Indonesia, Thailand Soltius Limited Director and Director of Australia Pty Ltd. Soltius.
Through a better synergy again, the company hopes these changes can increase the MII and Soltius values and bring a new perspective in order to encourage long-term growth company in the Indonesian information technology market.
MII is a company focusing on the areas of consulting, systems integration, and information technology outsourcing services. While Soltius is a regional company specializing in SAP Consulting is already established operations in the Asia Pacific region namely Indonesia, Thailand, and Australia.
Trade IHSG second session, the stock price with code moved the issuer MTDL stagnant at the level of Rp83 per share.
The Black Gold prices Kian Loyo
Gold Investing May 21st, 2010
Crude oil prices slumped world tips and perched dikisaran just USD73 per barrel level, in trading Wednesday (27/1/2010) local time, after the United States government reports (U.S.) about the decline in oil demand.
As reported by AFP on Thursday (28/1/2009) oil prices for the March contract fell $ 1, 04 to USD73, 67 per barrel, in trading the New York Mercantile Exchange (NYMEX). These levels are the lowest since December 14, 2009. While in London, the price of Brent for March contract fell $ 1, 05 to USD72, 24 per barrel on the ICE Futures.
Oil prices moved lower after the Energy Information Administration (EIA) reported a sharp decline in the reserves last week minyal. However, traders are also aware, fog and tidal wave in the Gulf of Mexico, which inhibit the transportation of oil to make oil reserves fell.
The EIA reported that gasoline demand fell 0.8 percent for more than four weeks, compared to the same period last year. Meanwhile, demand for distillate materials for the liquid oil and diesel fell 8.1 percent. Although the economy began to recover, but the number is still high unemployment and the rate of any industry is still weak.
Oil prices rose two-fold last year, although demand is still chaotic. Valero, the largest oil refinery company, Wednesday reported on this, it lost nearly $ 2 billion in 2009. And weak demand, forcing Valero and other oil pengilang stop some refinery operations.
