http://news.yahoo.com/s/nm/20100131/ts_nm/us_korea_north_arms_un
North Korea's biggest arm sales come from ballistic missiles, with Iran and other Middle Eastern states as customers, according to U.S. government officials.
Sunday, January 31, 2010
US beefing up missile defenses in Persian Gulf
http://news.yahoo.com/s/ap/20100131/ap_on_go_ca_st_pe/us_gulf_defenses
"I don't want to get into it in too much detail," Gates said in September, "but the reality is we are working both on a bilateral and a multilateral basis in the Gulf to establish the same kind of regional missile defense that would protect our facilities out there as well as our friends and allies."
"I don't want to get into it in too much detail," Gates said in September, "but the reality is we are working both on a bilateral and a multilateral basis in the Gulf to establish the same kind of regional missile defense that would protect our facilities out there as well as our friends and allies."
Saturday, January 30, 2010
China suspends military exchanges with US
http://news.yahoo.com/s/ap/20100130/ap_on_re_as/as_china_us_taiwan_arms_sales
Taiwan is the most sensitive topic in U.S.-China relations, and the sales announced Friday could complicate cooperation between the two sides on issues ranging from Iran's nuclear program to the loosening of Internet controls, including a Google-China standoff over censorship.
Overall ties have been tense as President Barack Obama plans to meet with the Dalai Lama, the exiled spiritual leader of Tibet, this year. It's not known whether the Taiwan arms sale will affect President Hu Jintao's expected visit to the U.S. this year.
Experts on China warned Beijing could take further steps to punish the United States to show its newfound power and confidence in world affairs.
Taiwan is the most sensitive topic in U.S.-China relations, and the sales announced Friday could complicate cooperation between the two sides on issues ranging from Iran's nuclear program to the loosening of Internet controls, including a Google-China standoff over censorship.
Overall ties have been tense as President Barack Obama plans to meet with the Dalai Lama, the exiled spiritual leader of Tibet, this year. It's not known whether the Taiwan arms sale will affect President Hu Jintao's expected visit to the U.S. this year.
Experts on China warned Beijing could take further steps to punish the United States to show its newfound power and confidence in world affairs.
Friday, January 29, 2010
Economy in U.S. Grew at 5.7% Pace, Most in Six Years (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=astN5U.atj2M&pos=1
Fed Action
Fed policy makers, after their meeting this week, said the recovery is gaining strength and business investment “appears to be picking up.” They also repeated a pledge to keep the benchmark interest rate low for an “extended period.” The central bankers held the overnight lending rate between banks in the range near zero, where it has been for more than a year.
Fed Action
Fed policy makers, after their meeting this week, said the recovery is gaining strength and business investment “appears to be picking up.” They also repeated a pledge to keep the benchmark interest rate low for an “extended period.” The central bankers held the overnight lending rate between banks in the range near zero, where it has been for more than a year.
Roubini: Greece Is Bankrupt
http://www.cnbc.com/id/35094038
Greece is trying to get trying to entice China to buy 25 billion euros ($35 billion) in bonds, according to published reports Wednesday.
If the situation becomes dire enough the European Union will be forced to help bail Greece out because it’s such a threat to the monetary union, he said.
Greece is trying to get trying to entice China to buy 25 billion euros ($35 billion) in bonds, according to published reports Wednesday.
If the situation becomes dire enough the European Union will be forced to help bail Greece out because it’s such a threat to the monetary union, he said.
Spain to Announce Deficit Cut Plan, Seeking to Avoid Greek Fate
http://www.bloomberg.com/apps/news?pid=20601085&sid=aygBLqv4u7dE
Spain’s debt burden, at just 36 percent of GDP before the crisis in 2007, will still be lower than Germany’s in 2011, according to the commission. Still, concern about the debt burden has led the yield difference with Germany to almost double in past month.
“With the discussion on the desolate state of Greece’s public finances, public awareness of these problems has at last risen,” Ralph Solveen, head of economic research at Commerzbank AG in Frankfurt, wrote in a note. “Along with Italy and Portugal, Spain is now regarded as another candidate for a serious crisis.”
Spain’s debt burden, at just 36 percent of GDP before the crisis in 2007, will still be lower than Germany’s in 2011, according to the commission. Still, concern about the debt burden has led the yield difference with Germany to almost double in past month.
“With the discussion on the desolate state of Greece’s public finances, public awareness of these problems has at last risen,” Ralph Solveen, head of economic research at Commerzbank AG in Frankfurt, wrote in a note. “Along with Italy and Portugal, Spain is now regarded as another candidate for a serious crisis.”
Japan’s Note Yields Fall to Three-Week Low on Recovery Concern
http://www.bloomberg.com/apps/news?pid=20601101&sid=ax.HQEKwfSIc
“People are becoming risk-averse again as evident by falling stocks and the rising yen,” said Akitsugu Bandou, a senior economist in Tokyo at Okasan Securities Co. “Risk- aversion means that bonds will fare well.”
The Nikkei 225 Stock Average lost 0.7 percent as the yen reached its highest level in five weeks against the dollar.
“People are becoming risk-averse again as evident by falling stocks and the rising yen,” said Akitsugu Bandou, a senior economist in Tokyo at Okasan Securities Co. “Risk- aversion means that bonds will fare well.”
The Nikkei 225 Stock Average lost 0.7 percent as the yen reached its highest level in five weeks against the dollar.
Asian Central Banks Signal a Tightening Trend
http://online.wsj.com/article/SB10001424052748704905604575026701263218476.html?mod=WSJ_latestheadlines
The Reserve Bank of India meets Friday and is expected to address inflation worries with some measure of monetary tightening. On Thursday, the Philippine central bank kept its benchmark rate unchanged, but tweaked a separate lending facility and signaled that its tightening cycle has begun. Malaysia's central bank on Tuesday also kept rates steady, and warned of "financial imbalances that could arise from interest rates being too low for a prolonged period of time."
The Reserve Bank of India meets Friday and is expected to address inflation worries with some measure of monetary tightening. On Thursday, the Philippine central bank kept its benchmark rate unchanged, but tweaked a separate lending facility and signaled that its tightening cycle has begun. Malaysia's central bank on Tuesday also kept rates steady, and warned of "financial imbalances that could arise from interest rates being too low for a prolonged period of time."
Japan Housing Starts Probably Hit Lowest Since 1964 (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNPBPIBjOTqg&pos=7
Even as the employment market starts to improve, the jobless rate has been above 5 percent since last April and wages have slumped for 16 straight months. Employee compensation will slide a record 3.9 percent in the fiscal year ending March 31, and a further 0.7 percent in the following 12 months, the government said last week.
The job environment will further dissuade potential home buyers, said Hiroshi Miyazaki, chief economist at Shinkin Asset Management Co. in Tokyo. “With unemployment so high and wages dwindling, households just aren’t going to be in the mood to buy a new home.”
Even as the employment market starts to improve, the jobless rate has been above 5 percent since last April and wages have slumped for 16 straight months. Employee compensation will slide a record 3.9 percent in the fiscal year ending March 31, and a further 0.7 percent in the following 12 months, the government said last week.
The job environment will further dissuade potential home buyers, said Hiroshi Miyazaki, chief economist at Shinkin Asset Management Co. in Tokyo. “With unemployment so high and wages dwindling, households just aren’t going to be in the mood to buy a new home.”
Stocks, Greek Bonds, Commodities Fall; Dollar, Treasuries Rise
http://www.bloomberg.com/apps/news?pid=20601087&sid=andolsDDLgus&pos=3
Greek bonds extended losses amid concern the government will struggle to narrow a budget deficit of almost 13 percent of GDP last year, the highest in the European Union. The 10-year note yield rose 41 basis points to a 10-year high of 7.16 percent, adding to yesterday’s 51-basis point surge.
The yield premium investors demand to hold the Greek securities instead of benchmark German bunds increased to 3.96 percentage points. That’s near the highest premium since October 1998, near the time when hedge fund Long-Term Capital Management LP collapsed amid risky bets on bond spreads.
Greek bonds extended losses amid concern the government will struggle to narrow a budget deficit of almost 13 percent of GDP last year, the highest in the European Union. The 10-year note yield rose 41 basis points to a 10-year high of 7.16 percent, adding to yesterday’s 51-basis point surge.
The yield premium investors demand to hold the Greek securities instead of benchmark German bunds increased to 3.96 percentage points. That’s near the highest premium since October 1998, near the time when hedge fund Long-Term Capital Management LP collapsed amid risky bets on bond spreads.
Thursday, January 28, 2010
Wednesday, January 27, 2010
Commodities Stocks, Metals Prices Fall as China Curbs Growth
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQ4_EHN6gnaw&pos=1
The Australian dollar rose against all 16 of its most- traded counterparts after consumer prices gained more than forecast in the fourth quarter, increasing pressure on the central bank to raise interest rates. The yen traded near a nine-month high against the euro on concern the global economic recovery will slow, increasing demand for Japan’s currency as a refuge.
Australia’s currency rose 0.6 percent to 90.39 U.S. cents from 89.86 in New York. It yesterday touched 89.38 cents, the lowest since Dec. 31. The yen traded at 126.27 per euro from 126.16 in New York, when it reached 125.68, the strongest level since April 28. The dollar fetched 89.61 yen from 89.65 yen.
Australian consumer prices rose 0.5 percent in the fourth quarter, compared to the median estimate for a 0.4 percent gain in a Bloomberg News survey.
The Australian dollar rose against all 16 of its most- traded counterparts after consumer prices gained more than forecast in the fourth quarter, increasing pressure on the central bank to raise interest rates. The yen traded near a nine-month high against the euro on concern the global economic recovery will slow, increasing demand for Japan’s currency as a refuge.
Australia’s currency rose 0.6 percent to 90.39 U.S. cents from 89.86 in New York. It yesterday touched 89.38 cents, the lowest since Dec. 31. The yen traded at 126.27 per euro from 126.16 in New York, when it reached 125.68, the strongest level since April 28. The dollar fetched 89.61 yen from 89.65 yen.
Australian consumer prices rose 0.5 percent in the fourth quarter, compared to the median estimate for a 0.4 percent gain in a Bloomberg News survey.
Tuesday, January 26, 2010
Extra Reserves for China Banks Take Effect, Markets Hit
http://www.cnbc.com/id/35070681
China implemented a planned increase in required reserves for some banks on Tuesday, sources said, sparking knee-jerk selling of Asian stocks which underscored how sensitive global investors are to Beijing's tightening of monetary policy.
China implemented a planned increase in required reserves for some banks on Tuesday, sources said, sparking knee-jerk selling of Asian stocks which underscored how sensitive global investors are to Beijing's tightening of monetary policy.
Dubai Helps Iran Evade Sanctions as Smugglers Ignore U.S. Laws
http://www.bloomberg.com/apps/news?pid=20601109&sid=av5smtYe_DDA&pos=10
Iran’s biggest non-oil trading partner provides a stream of household items -- from diapers and mobile phones to laptops and washing machines -- as well as illicit items such as aircraft parts and computer chips that the U.S. says have nuclear and military uses.
Abu Dhabi’s Role
Abu Dhabi, the most powerful of the emirates by virtue of about $45 billion in oil exports in 2009, may flex its muscles to try to break up the Iran-Dubai connection, says Nader Habibi, an economics professor at Brandeis University in Waltham, Massachusetts.
Abu Dhabi, which has always been suspicious of Iran’s political and nuclear ambitions, enjoys considerable leverage. In 2009, the emirate, which is about 16 times the size of Dubai, stepped in with a $20 billion bailout.
Iran’s biggest non-oil trading partner provides a stream of household items -- from diapers and mobile phones to laptops and washing machines -- as well as illicit items such as aircraft parts and computer chips that the U.S. says have nuclear and military uses.
Abu Dhabi’s Role
Abu Dhabi, the most powerful of the emirates by virtue of about $45 billion in oil exports in 2009, may flex its muscles to try to break up the Iran-Dubai connection, says Nader Habibi, an economics professor at Brandeis University in Waltham, Massachusetts.
Abu Dhabi, which has always been suspicious of Iran’s political and nuclear ambitions, enjoys considerable leverage. In 2009, the emirate, which is about 16 times the size of Dubai, stepped in with a $20 billion bailout.
Chavez Currency ‘Burn’ Failing as $93 Billion Leaves Venezuela
http://www.bloomberg.com/apps/news?pid=20601109&sid=a.eiJxW7dsGY&pos=13
The plan will fail because Chavez’s nationalizations and land seizures are prompting Venezuelans to pull money from the country, said Alberto Ramos, a Goldman Sachs economist. More than $93 billion has left the South American nation since 2005, according to the central bank’s capital account data.
“At around 5 per dollar or so, the government would have to burn a lot of reserves to maintain it,” Grisanti said in a phone interview from New York. “It wouldn’t be sustainable.”
Only a more “market friendly” stance from Chavez would slow capital flight, Ramos said.
The plan will fail because Chavez’s nationalizations and land seizures are prompting Venezuelans to pull money from the country, said Alberto Ramos, a Goldman Sachs economist. More than $93 billion has left the South American nation since 2005, according to the central bank’s capital account data.
“At around 5 per dollar or so, the government would have to burn a lot of reserves to maintain it,” Grisanti said in a phone interview from New York. “It wouldn’t be sustainable.”
Only a more “market friendly” stance from Chavez would slow capital flight, Ramos said.
Japan’s Ratings Outlook Cut on Lack of Hatoyama Plan (Update3)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGg4tFn9n2gY&pos=5
“The policies of the new Democratic Party of Japan government point to a slower pace of fiscal consolidation than we had previously expected,” S&P said in a statement today. Japan’s rating could be lowered from the current AA, the third highest, if economic data “remain weak” and measures to buttress growth “are not forthcoming,” the company said.
“The policies of the new Democratic Party of Japan government point to a slower pace of fiscal consolidation than we had previously expected,” S&P said in a statement today. Japan’s rating could be lowered from the current AA, the third highest, if economic data “remain weak” and measures to buttress growth “are not forthcoming,” the company said.
Extra Reserves for China Banks Take Effect, Markets Hit
http://www.cnbc.com/id/35070681
Reuters reported last week that CITIC Bank, the country's seventh-largest bank, and Industrial and Commercial Bank of China, the top lender, had been instructed to raise their reserve ratios after excessive lending.
In currencies, the Japanese yen jumped broadly against most currencies. The dollar fell to as low as 89.82 yen, down from around 90.35 yen,, and the euro slid by as much as about one yen after the news to a low of 126.85 yen.
Reuters reported last week that CITIC Bank, the country's seventh-largest bank, and Industrial and Commercial Bank of China, the top lender, had been instructed to raise their reserve ratios after excessive lending.
In currencies, the Japanese yen jumped broadly against most currencies. The dollar fell to as low as 89.82 yen, down from around 90.35 yen,, and the euro slid by as much as about one yen after the news to a low of 126.85 yen.
Jim Chanos: China's Real Estate Bubble Is Unprecedented
http://www.cnbc.com/id/35056774
"In the West, GDP growth is the residual of the free market… In China it is quite a bit of a different thing, very similar to the good old Soviet Union; GDP is a planning tool and we start with the GDP target and then figure out how it is we are going to get there," Chanos said.
"In the West, GDP growth is the residual of the free market… In China it is quite a bit of a different thing, very similar to the good old Soviet Union; GDP is a planning tool and we start with the GDP target and then figure out how it is we are going to get there," Chanos said.
Hang Seng Falling 10% Shows China Risks as Bank Stocks Double
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTl4hhWrYIBY&pos=5
“ The market is a little panicky because investors are not sure how much tightening China will implement,” she said. “China is trying to slow the acceleration in the economy, but I don’t think they will slam the brakes.”
“ The market is a little panicky because investors are not sure how much tightening China will implement,” she said. “China is trying to slow the acceleration in the economy, but I don’t think they will slam the brakes.”
South Korea Fourth-Quarter GDP Growth Eases to 0.2% (Update2)
The won strengthened 0.3 percent to 1,146 per dollar at 9 a.m. in Seoul. Investors’ bets on South Korea’s economic rebound drove the nation’s benchmark Kospi stock index up 50 percent last year and the won 8.9 percent higher against the dollar. GDP expanded at the fastest pace in seven years in the third quarter.
“There may be little reason for rates to rise for now and the central bank will wait a couple more months,” said Kim Seung Hyun, head of research at Taurus Investment & Securities Co. in Seoul. “But as the economy picks up, inflation may accelerate and the central bank will have to consider lifting rates as soon as the second quarter.”
“There may be little reason for rates to rise for now and the central bank will wait a couple more months,” said Kim Seung Hyun, head of research at Taurus Investment & Securities Co. in Seoul. “But as the economy picks up, inflation may accelerate and the central bank will have to consider lifting rates as soon as the second quarter.”
Monday, January 25, 2010
South Korean bonds fall ahead of GDP data
http://www.cnbc.com/id/35053573/
The data is being keenly monitored by policy makers and investors in assessing the sustainability of the economic recovery, and whether the timing is ripe for higher borrowing costs. On the primary market, the sale of 20-year treasury bonds attracted strong bids, with the issuance exceeding 1 trillion won ($870.3 million), more than planned, amid foreign investors' buying interest.
The data is being keenly monitored by policy makers and investors in assessing the sustainability of the economic recovery, and whether the timing is ripe for higher borrowing costs. On the primary market, the sale of 20-year treasury bonds attracted strong bids, with the issuance exceeding 1 trillion won ($870.3 million), more than planned, amid foreign investors' buying interest.
Growth Probably Accelerated as 2009 Ended: U.S. Economy Preview
http://www.bloomberg.com/apps/news?pid=20601087&sid=anvDy525cK74&pos=1
Gross domestic product expanded at a 4.6 percent pace from October through December, more than double the prior quarter’s growth rate and the strongest since the first three months of 2006, according to the median estimate of 74 economists surveyed by Bloomberg News. Other reports may show orders for durable goods increased and home sales declined.
Gross domestic product expanded at a 4.6 percent pace from October through December, more than double the prior quarter’s growth rate and the strongest since the first three months of 2006, according to the median estimate of 74 economists surveyed by Bloomberg News. Other reports may show orders for durable goods increased and home sales declined.
Sunday, January 24, 2010
Saturday, January 23, 2010
Credit Swaps Rise Most Since June Amid Regulatory Uncertainty
http://www.bloomberg.com/apps/news?pid=20601087&sid=av5t66ZC8Ik4&pos=3
Credit-default swaps on the Markit CDX North America Investment-Grade Index Series 13, which is linked to 125 companies and used to speculate on creditworthiness or to hedge against losses, climbed 12.7 basis points this week to 96.2 basis points, according to CMA DataVision prices. An increase in the index signals a decline in investor confidence.
Credit-default swaps on the Markit CDX North America Investment-Grade Index Series 13, which is linked to 125 companies and used to speculate on creditworthiness or to hedge against losses, climbed 12.7 basis points this week to 96.2 basis points, according to CMA DataVision prices. An increase in the index signals a decline in investor confidence.
Britain Raises Terror Threat Level to 'Severe'
http://www.cnbc.com/id/35019934
"The UK is raising their measures to effectively where we are with the airport security measures that we have taken and announced over the last few weeks. We have enhanced our security measures and communicated specific information to industry, law enforcement and the American people."
"The UK is raising their measures to effectively where we are with the airport security measures that we have taken and announced over the last few weeks. We have enhanced our security measures and communicated specific information to industry, law enforcement and the American people."
Yen Climbs as Obama Bank Plan, China Outlook Deter Risk Demand
“The Obama bank risk-taking measures place a dark cloud over the U.S. recovery, which makes the environment quite dollar-negative, and the yen rallies,” said David Tien, a money manager in New York at Fischer Francis Trees & Watts, which manages $19 billion in assets. “The China news was certainly alarming.”
Friday, January 22, 2010
China’s Growth Surge May Make Inflation Task Tougher (Update2)
http://www.bloomberg.com/apps/news?pid=20601068&sid=aVSiGpBpciEg
Fourth-quarter economic growth was driven by an unprecedented $586 billion stimulus package, subsidies for consumer purchases and a credit-fueled investment boom. The property market has rebounded and a 13-month slump in exports ended last month. For the full year, GDP gained 8.7 percent, beating Wen’s 8 percent target.
Retail sales rose 16.9 percent last year after adjusting for consumer price changes, the bureau said. The government previously said that gain was the biggest since 1986.
Fourth-quarter economic growth was driven by an unprecedented $586 billion stimulus package, subsidies for consumer purchases and a credit-fueled investment boom. The property market has rebounded and a 13-month slump in exports ended last month. For the full year, GDP gained 8.7 percent, beating Wen’s 8 percent target.
Retail sales rose 16.9 percent last year after adjusting for consumer price changes, the bureau said. The government previously said that gain was the biggest since 1986.
Marc Faber: Sovereign Defaults Will Proliferate
http://www.cnbc.com/id/34973952
"So, whereas it was wise to own long-term US government bonds between 2000 and 2009, for the next 10 years I expect a massive outperformance of equities compared to bonds," he wrote.
"So, whereas it was wise to own long-term US government bonds between 2000 and 2009, for the next 10 years I expect a massive outperformance of equities compared to bonds," he wrote.
'Bond Vigilantes' Are Looking for Big Bait: Investor
http://www.cnbc.com/id/34818986
Despite the uncertainties, Monson is keeping his eye firmly on the government bonds. "We think you will make a lot more money trading sovereign debt in 2010 than in corporate debt," he said.
Despite the uncertainties, Monson is keeping his eye firmly on the government bonds. "We think you will make a lot more money trading sovereign debt in 2010 than in corporate debt," he said.
Thursday, January 21, 2010
Venezuela's Chavez seizes French-owned retailer
http://www.signonsandiego.com/news/2010/jan/20/venezuelas-chavez-seizes-french-owned-retailer/
Chavez said his government would transform Exito, which is majority-controlled by the French company Casino Guichard Perrachon SA, into a chain of state-run stores that will sell products at cut-rate prices as part of his drive toward socialism.
The expropriation of Exito will expand the government's presence in retail sales. It has a network of state-run subsidized food markets and recently opened a business selling arepas - toasted corn cakes that are a common meal in Venezuela.
Chavez also has nationalized businesses in the steel, telecommunications, electricity, cement and oil sectors.
Chavez said his government would transform Exito, which is majority-controlled by the French company Casino Guichard Perrachon SA, into a chain of state-run stores that will sell products at cut-rate prices as part of his drive toward socialism.
The expropriation of Exito will expand the government's presence in retail sales. It has a network of state-run subsidized food markets and recently opened a business selling arepas - toasted corn cakes that are a common meal in Venezuela.
Chavez also has nationalized businesses in the steel, telecommunications, electricity, cement and oil sectors.
China’s GDP Growth Accelerates to Fastest Since 2007 (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=ah5uJvRvp8gM&pos=1
“Today’s data suggest that tighter policy is just around the corner,” said Brian Jackson, a Hong Kong-based strategist on emerging markets at Royal Bank of Canada. “Policy makers will need to move soon to stop the economy from overheating,” he said, forecasting officials will end an exchange-rate peg and boost interest rates starting this quarter.
“Today’s data suggest that tighter policy is just around the corner,” said Brian Jackson, a Hong Kong-based strategist on emerging markets at Royal Bank of Canada. “Policy makers will need to move soon to stop the economy from overheating,” he said, forecasting officials will end an exchange-rate peg and boost interest rates starting this quarter.
FARC’s Cocaine Sales to Mexico Cartels Prove Too Rich to Subdue
http://www.bloomberg.com/apps/news?pid=20601109&sid=aQfKk3ykBBes&pos=14
The pact to bypass middlemen has given Reyes’s group, known as the FARC, an opportunity to double its profit by selling directly to the Mexican cartel, said the government official, who spoke on condition of anonymity. The FARC earned at least $1 billion and maybe several times that amount in the past year, according to officials familiar with the group. The arrangement has strengthened the cartels at a time when they are under pressure from an offensive ordered by Mexican President Felipe Calderon, the Colombian official said.
The pact to bypass middlemen has given Reyes’s group, known as the FARC, an opportunity to double its profit by selling directly to the Mexican cartel, said the government official, who spoke on condition of anonymity. The FARC earned at least $1 billion and maybe several times that amount in the past year, according to officials familiar with the group. The arrangement has strengthened the cartels at a time when they are under pressure from an offensive ordered by Mexican President Felipe Calderon, the Colombian official said.
Wednesday, January 20, 2010
Tuesday, January 19, 2010
Loan Prices Reach Two-Year High as Apax Borrows: Credit Markets
http://www.bloomberg.com/apps/news?pid=20601087&sid=aP7bEr0Jt7DI&pos=5
“If you’re a high-yield bond investor, you can buy another new bond, but if you are a loan investor, you don’t have that option, you will need to reinvest in the secondary market,” said Alex Moss, a fund manager at Insight Investment Management in London.
“If you’re a high-yield bond investor, you can buy another new bond, but if you are a loan investor, you don’t have that option, you will need to reinvest in the secondary market,” said Alex Moss, a fund manager at Insight Investment Management in London.
China Pushes Up Bill Rates for Second Time This Year
http://www.cnbc.com/id/34929602
China's central bank signalled in its open market operation on Tuesday that its quantitative tightening was still intact but it aims to shift fund drains to longer-term tenors to rein in lending and fight inflation.
China's central bank signalled in its open market operation on Tuesday that its quantitative tightening was still intact but it aims to shift fund drains to longer-term tenors to rein in lending and fight inflation.
ECB Official Rules Out Double Dip in the Euro Zone
http://www.cnbc.com/id/34837571
The euro zone will not fall back into recession European Central Bank Governing Council member Ewald Nowotny said on Monday, while the ECB may, at some point, want to copy Fed plans to squeeze excess cash out of the banking system.
The ECB continues to stress the 16-country euro zone faces a bumpy road to recovery following the recent financial crisis and recession.
The euro zone will not fall back into recession European Central Bank Governing Council member Ewald Nowotny said on Monday, while the ECB may, at some point, want to copy Fed plans to squeeze excess cash out of the banking system.
The ECB continues to stress the 16-country euro zone faces a bumpy road to recovery following the recent financial crisis and recession.
Monday, January 18, 2010
Euro at One-Week Low Versus Dollar as Ministers Discuss Greece
http://www.bloomberg.com/apps/news?pid=20601101&sid=atKl_.fx9iSI
Jan. 18 (Bloomberg) -- The euro traded near a one-week low against the dollar amid speculation a meeting of European officials today won’t offer solutions to Greece’s deteriorating public finances.
Jan. 18 (Bloomberg) -- The euro traded near a one-week low against the dollar amid speculation a meeting of European officials today won’t offer solutions to Greece’s deteriorating public finances.
European Officials Debate ECB Vice President as Exit Looms
http://www.bloomberg.com/apps/news?pid=20601087&sid=aY3VSEjZNiRY&pos=7
Mersch, 59, said in April 2008 that the ECB should “certainly not” cut interest rates that year as a rise in inflation couldn’t be ruled out. By the end of the year, the bank had reduced its key rate to 2.5 percent from 4 percent. Mersch has also moved markets in the past. The euro fell the most in a month on Jan. 16, 2008 after he commented about the risks to economic growth in an interview with Bloomberg News.
Mersch, 59, said in April 2008 that the ECB should “certainly not” cut interest rates that year as a rise in inflation couldn’t be ruled out. By the end of the year, the bank had reduced its key rate to 2.5 percent from 4 percent. Mersch has also moved markets in the past. The euro fell the most in a month on Jan. 16, 2008 after he commented about the risks to economic growth in an interview with Bloomberg News.
Sunday, January 17, 2010
6 Major Powers Move Closer to Considering More Iran Sanctions
http://www.nytimes.com/2010/01/17/world/middleeast/17nations.html
Both China and Russia voted in the Security Council for three previous rounds of sanctions, but only China has been outspoken in its recent opposition. Russia was upset that its offer to further enrich Iranian uranium at its facilities was rebuffed and that the Iranians did not seem serious about entering negotiations.
Both China and Russia voted in the Security Council for three previous rounds of sanctions, but only China has been outspoken in its recent opposition. Russia was upset that its offer to further enrich Iranian uranium at its facilities was rebuffed and that the Iranians did not seem serious about entering negotiations.
S. Korea aims to export 80 nuclear reactors by 2030
http://english.yonhapnews.co.kr/business/2010/01/13/22/0501000000AEN20100113009400320F.HTML
The Ministry of Knowledge Economy said in a nuclear energy industry meeting chaired by President Lee Myung-bak that the country will strive to grab at least 20 percent of the global market share for new reactors in the next 20 years.
The Ministry of Knowledge Economy said in a nuclear energy industry meeting chaired by President Lee Myung-bak that the country will strive to grab at least 20 percent of the global market share for new reactors in the next 20 years.
Euro Falls to Three-Week Low Versus Yen on Greece’s Debt Crisis
http://www.bloomberg.com/apps/news?pid=20601087&sid=acPlEBNVmvuQ&pos=4
“Fiscal concerns in Europe aren’t going away anytime soon,” said Aroop Chatterjee, a currency strategist in New York at Barclays Plc. “What Trichet said helped intensify the euro’s move lower.”
“Fiscal concerns in Europe aren’t going away anytime soon,” said Aroop Chatterjee, a currency strategist in New York at Barclays Plc. “What Trichet said helped intensify the euro’s move lower.”
Saturday, January 16, 2010
Greece Won’t Default or Leave Euro Area, Juncker Says (Update2)
http://www.bloomberg.com/apps/news?pid=20601085&sid=a4cZFPkiQR3w
“Two things won’t happen: Greece won’t go bankrupt; but it has to make enormous efforts,” Juncker said at a press conference in Luxembourg today. “The second point is that the hypothesis that a country will leave the eurogroup or euro zone is not a question. It’s absurd.”
“Two things won’t happen: Greece won’t go bankrupt; but it has to make enormous efforts,” Juncker said at a press conference in Luxembourg today. “The second point is that the hypothesis that a country will leave the eurogroup or euro zone is not a question. It’s absurd.”
Friday, January 15, 2010
Strengthening U.S. Recovery May Intensify Fed Debate on Exit
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDWlxYGoEGDA&pos=5
Policy makers are still studying ways to drain $1 trillion in excess cash from the financial system and debating how to signal a rate increase that economists say is at least 10 months away. The first test of their exit strategy will come in March, when the Fed’s purchases of $1.25 trillion of mortgage-backed securities are scheduled to end.
Policy makers are still studying ways to drain $1 trillion in excess cash from the financial system and debating how to signal a rate increase that economists say is at least 10 months away. The first test of their exit strategy will come in March, when the Fed’s purchases of $1.25 trillion of mortgage-backed securities are scheduled to end.
Technology Shares Advance in Asia on Intel; Yen, Dollar Climb
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXQpVFeDVj04&pos=1
China Tightening
“China is beginning to show signs of tightening, which should lead to risk aversion,” said Yoshihiro Nomura, Tokyo- based foreign-exchange team manager at Trust & Custody Services Bank Ltd. “Investors are sensitive to China’s news.”
The yen climbed to 131.26 per euro today from 132.25 in New York yesterday. The dollar gained to $1.4436 per euro from $1.4499. The yen was at 90.99 per dollar from 91.21.
China Tightening
“China is beginning to show signs of tightening, which should lead to risk aversion,” said Yoshihiro Nomura, Tokyo- based foreign-exchange team manager at Trust & Custody Services Bank Ltd. “Investors are sensitive to China’s news.”
The yen climbed to 131.26 per euro today from 132.25 in New York yesterday. The dollar gained to $1.4436 per euro from $1.4499. The yen was at 90.99 per dollar from 91.21.
It became increasingly, brutally clear: Port-au-Prince is a tomb
http://www.guardian.co.uk/world/2010/jan/14/haiti-port-au-prince-deaths
A power blackout, scant water and medicine and decomposing corpses was a lethal cocktail, Peter Hotez, head of the department of microbiology at George Washington University, told CNN.
"What you have is the perfect storm of infection. What you have is a breakdown. It is already a fragile infrastructure with high rates of infectious and neglected tropical disease. Now there are potential breakdowns in sanitation, clean water, housing and subsequent crowding. That's a terrible mix."
A power blackout, scant water and medicine and decomposing corpses was a lethal cocktail, Peter Hotez, head of the department of microbiology at George Washington University, told CNN.
"What you have is the perfect storm of infection. What you have is a breakdown. It is already a fragile infrastructure with high rates of infectious and neglected tropical disease. Now there are potential breakdowns in sanitation, clean water, housing and subsequent crowding. That's a terrible mix."
Full Picture of Haiti Devastation Emerges as International Aid Mobilized
http://www1.voanews.com/english/news/americas/Full-Picture-of-Haiti-Devastation-Emerges-as-International-Aid-is-Mobilized-81537082.html
In Port-au-Prince, sheet-draped bodies remain unclaimed, and untold numbers of people are trapped in rubble or missing and feared dead.
In Port-au-Prince, sheet-draped bodies remain unclaimed, and untold numbers of people are trapped in rubble or missing and feared dead.
Thursday, January 14, 2010
Haiti Lies in Ruins; Grim Search for Untold Dead
http://www.nytimes.com/2010/01/15/world/americas/15haiti.html
In the midst of the chaos, no one was able to offer an estimate of the number of people who had been killed or injured, though there was widespread concern that there were likely to be thousands of casualties.
In the midst of the chaos, no one was able to offer an estimate of the number of people who had been killed or injured, though there was widespread concern that there were likely to be thousands of casualties.
Wednesday, January 13, 2010
German Economy Suffers Worst Post-War Contraction
http://www.cnbc.com/id/34837011
German exports declined by 14.7 percent on the year in 2009, outweighing a drop of 8.9 percent in imports, the Statistics Office said, adding it looked as though China overtook Germany last year as the world's biggest exporter of goods.
German consumer sentiment declined going into January as worries over unemployment weighed on households' readiness to spend, a survey released last month showed.
German exports declined by 14.7 percent on the year in 2009, outweighing a drop of 8.9 percent in imports, the Statistics Office said, adding it looked as though China overtook Germany last year as the world's biggest exporter of goods.
German consumer sentiment declined going into January as worries over unemployment weighed on households' readiness to spend, a survey released last month showed.
Adobe Software May have Been Exploited in Cyber Attack
http://www.cnbc.com/id/34838164
Google said part of the attack's purpose was to access Gmail accounts of human rights activists, adding that many activists seem to have been separately targeted with attacks designed to gain access to their accounts.
Google May Close China Site After ‘Highly Sophisticated’ Attack
http://www.bloomberg.com/apps/news?pid=20601087&sid=apM_E9ALJo.o&pos=1
Jan. 13 (Bloomberg) -- Google Inc., owner of the most popular Internet search engine, is considering shutting its Chinese Web site and offices after discovering a “highly sophisticated” attack last month aimed at gaining access to e-mail accounts of human-rights activists.
Jan. 13 (Bloomberg) -- Google Inc., owner of the most popular Internet search engine, is considering shutting its Chinese Web site and offices after discovering a “highly sophisticated” attack last month aimed at gaining access to e-mail accounts of human-rights activists.
Venezuela Raids Stores; Banks Approve Currency Move
http://www.cnbc.com/id/34823694
President Hugo Chavez announced the devaluation last week, cutting the exchange rate of the bolivar against the dollar by half for oil income and for goods deemed nonessential in a move to bolster state coffers.
President Hugo Chavez announced the devaluation last week, cutting the exchange rate of the bolivar against the dollar by half for oil income and for goods deemed nonessential in a move to bolster state coffers.
China Accelerated Stimulus Exit Signals Higher Rates (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMRvmslnFIRc&pos=5
The People’s Bank of China yesterday raised the proportion of deposits that banks must set aside as reserves by 50 basis points starting Jan. 18. Economists hadn’t anticipated the move until at least April, the median of 11 forecasts in a Bloomberg News survey showed last week.
The People’s Bank of China yesterday raised the proportion of deposits that banks must set aside as reserves by 50 basis points starting Jan. 18. Economists hadn’t anticipated the move until at least April, the median of 11 forecasts in a Bloomberg News survey showed last week.
Tuesday, January 12, 2010
Monday, January 11, 2010
North Korean Money Troubles
Kim Jong Il's currency revaluation is on the verge of sparking a hyperinflation.
http://online.wsj.com/article/SB10001424052748704500104574651090133811018.html?mod=googlenews_wsj
http://online.wsj.com/article/SB10001424052748704500104574651090133811018.html?mod=googlenews_wsj
China Trade Rebound Aids Global Recovery as Imports Climb 56%
http://www.bloomberg.com/apps/news?pid=20601087&sid=apC5ThWF7_ig&pos=1
China surpassed Germany in 2007 to become the third-largest economy and is forecast to overtake Japan this year, assuming the No. 2 spot behind the U.S.
Germany shipped 734.6 billion euros ($1.05 trillion) of exports in the first 11 months of last year, the Federal Statistics Office said Jan. 8. That compared with China’s $1.07 trillion over that period.
China surpassed Germany in 2007 to become the third-largest economy and is forecast to overtake Japan this year, assuming the No. 2 spot behind the U.S.
Germany shipped 734.6 billion euros ($1.05 trillion) of exports in the first 11 months of last year, the Federal Statistics Office said Jan. 8. That compared with China’s $1.07 trillion over that period.
Japan Airlines Set for Bankruptcy as Hatoyama Abandons Bailouts
http://www.bloomberg.com/apps/news?pid=20601087&sid=asaNsYIcCB3Y&pos=2
“Bankruptcy is the best way to ensure a speedy revival for JAL,” said Osuke Itazaki, an airlines analyst at Credit Suisse Group AG in Tokyo.
JAL may also re-emerge from bankruptcy because of the pre- planning that is going on and the support the carrier is getting from the government, said Basu.
“The ideas behind the filing process looks good and well in place,” he said. “The only cause of concern would be how they are implemented.”
“Bankruptcy is the best way to ensure a speedy revival for JAL,” said Osuke Itazaki, an airlines analyst at Credit Suisse Group AG in Tokyo.
JAL may also re-emerge from bankruptcy because of the pre- planning that is going on and the support the carrier is getting from the government, said Basu.
“The ideas behind the filing process looks good and well in place,” he said. “The only cause of concern would be how they are implemented.”
Chavez Says He’ll Seize Businesses That Raise Prices (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXbj7Dei7k2Y&pos=5
“The bourgeois are already talking about how all prices are going to double and they’re closing their businesses,” Chavez said in comments on state television during his weekly “Alo Presidente” program. “People, don’t let them rob you, denounce it, and I’m capable of taking over that business.”
Chavez devalued the bolivar as much as 50 percent on Jan. 8 for the first time in almost 5 years, as last year’s decline in oil revenue caused the economy to contract an estimated 2.9 percent, its first recession since 2003. The government set a multi-tiered currency system that Chavez says will stimulate national production by making imports more expensive.
“The bourgeois are already talking about how all prices are going to double and they’re closing their businesses,” Chavez said in comments on state television during his weekly “Alo Presidente” program. “People, don’t let them rob you, denounce it, and I’m capable of taking over that business.”
Chavez devalued the bolivar as much as 50 percent on Jan. 8 for the first time in almost 5 years, as last year’s decline in oil revenue caused the economy to contract an estimated 2.9 percent, its first recession since 2003. The government set a multi-tiered currency system that Chavez says will stimulate national production by making imports more expensive.
Sunday, January 10, 2010
Iran's judiciary takes a military colour
http://www.guardian.co.uk/commentisfree/2010/jan/08/iran-judiciary-military-colour
Since protests started on June 13, following the disputed presidential election, Human Rights Watch has "confirmed from sources across Iran" the arrest of hundreds of opposition and reformist activists. Those arrested include prominent political and religious leaders on the reforming wing of the Islamic establishment as well as leading intellectuals, journalists, and students.
Since protests started on June 13, following the disputed presidential election, Human Rights Watch has "confirmed from sources across Iran" the arrest of hundreds of opposition and reformist activists. Those arrested include prominent political and religious leaders on the reforming wing of the Islamic establishment as well as leading intellectuals, journalists, and students.
Dollar Falls Most Since November on Surprise Payrolls Drop
http://www.bloomberg.com/apps/news?pid=20601087&sid=adDyiqWUZXuQ&pos=5
The dollar posted its biggest weekly loss since November versus the currencies of major U.S. trading partners as an unexpected drop in jobs boosted speculation that the Federal Reserve may extend stimulus measures.
The dollar posted its biggest weekly loss since November versus the currencies of major U.S. trading partners as an unexpected drop in jobs boosted speculation that the Federal Reserve may extend stimulus measures.
New Investment Tools Approved by Regulator in China
http://www.cnbc.com/id/34780694
The announcement means that for the first time investors in China have more options than simply buying and selling their favorite stocks. They will soon be able to invest in a stock index (or set of stocks, collectively) and borrow money to trade stocks on margin.
The announcement means that for the first time investors in China have more options than simply buying and selling their favorite stocks. They will soon be able to invest in a stock index (or set of stocks, collectively) and borrow money to trade stocks on margin.
Chavez Devalues Bolivar 50%, First Time Since 2005 (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=axRgXYrMdWoA&pos=7
Chavez said the bolivar will be devalued to 4.3 per dollar from 2.15 per dollar for most imports. A second, subsidized peg of 2.60 bolivars per dollar will be used for importing food, medicine and machinery intended to boost the economy’s competitiveness.
Chavez said the bolivar will be devalued to 4.3 per dollar from 2.15 per dollar for most imports. A second, subsidized peg of 2.60 bolivars per dollar will be used for importing food, medicine and machinery intended to boost the economy’s competitiveness.
Friday, January 8, 2010
Japan, S.Korea to boost security
An agreement could come when South Korean President Lee Myung Bak visits Japan later this year, according to Japan's top selling daily.
Thursday, January 7, 2010
Vaclav Havel protests jailing of Chinese dissident
http://edition.cnn.com/2010/WORLD/asiapcf/01/06/china.dissident.czech/
Havel, himself a former dissident jailed by his country's Communist regime in the 1970s and 1980s, was criticizing the 11-year prison sentence imposed on Chinese dissident Liu Xiaobo.
Charter 08 is "a declaration calling for political reform, greater human rights, and an end to one-party rule in China that has been signed by hundreds of individuals from all walks of life throughout the country," PEN says on its Web site. The group said Liu was arrested before the formal release of Charter 08.
"Liu has been engaged in agitation activities, such as spreading of rumors and defaming of the government, aimed at subversion of the state and overthrowing the socialism system in recent years," according to a police statement reported by China's state-run Xinhua news agency.
Havel, himself a former dissident jailed by his country's Communist regime in the 1970s and 1980s, was criticizing the 11-year prison sentence imposed on Chinese dissident Liu Xiaobo.
Charter 08 is "a declaration calling for political reform, greater human rights, and an end to one-party rule in China that has been signed by hundreds of individuals from all walks of life throughout the country," PEN says on its Web site. The group said Liu was arrested before the formal release of Charter 08.
"Liu has been engaged in agitation activities, such as spreading of rumors and defaming of the government, aimed at subversion of the state and overthrowing the socialism system in recent years," according to a police statement reported by China's state-run Xinhua news agency.
Myanmar sentences two to death for N.Korea leak
http://news.yahoo.com/s/afp/20100108/wl_asia_afp/myanmarjusticepoliticsnkorea
The men were also accused of leaking pictures of the alleged secret network of tunnels built by North Korean experts inside Myanmar, which were published in June by the Democratic Voice of Burma (DVB), based in Oslo, Norway.
The documents the men released further showed that junta number two Maung Aye visited Russia in 2006 to discuss the procurement of a guided missile system with Moscow officials, the DVB said on its website Friday.
The leaks by the three men included details of a 2008 trip to communist North Korea by junta number three General Shwe Mann, who is also the joint chief of staff of Myanmar's armed forces, exile-run media said.
The men were also accused of leaking pictures of the alleged secret network of tunnels built by North Korean experts inside Myanmar, which were published in June by the Democratic Voice of Burma (DVB), based in Oslo, Norway.
The documents the men released further showed that junta number two Maung Aye visited Russia in 2006 to discuss the procurement of a guided missile system with Moscow officials, the DVB said on its website Friday.
The leaks by the three men included details of a 2008 trip to communist North Korea by junta number three General Shwe Mann, who is also the joint chief of staff of Myanmar's armed forces, exile-run media said.
Monday, January 4, 2010
U.S., U.K. Close Yemen Embassies; Brown Cites ‘Failing State’
http://www.bloomberg.com/apps/news?pid=20601087&sid=asr9HjSxQQ8I&pos=8
“The Yemeni government has demonstrated their willingness to take the fight to al-Qaeda,” Brennan said. “They’re willing to accept our support. We’re providing them everything that they’ve asked for.”
“The Yemeni government has demonstrated their willingness to take the fight to al-Qaeda,” Brennan said. “They’re willing to accept our support. We’re providing them everything that they’ve asked for.”
Japan Return to 1991 GDP Gives Credit Markets Mega Risk Crisis
http://www.bloomberg.com/apps/news?pid=20601068&sid=aXaZic3d5C9c#
“My biggest concern is whether the Japanese government will be able to sell all the bonds at auctions,” he said, adding that such failures might send 10- year note yields climbing through 2.4 percent.
Sunday, January 3, 2010
Detroit terror attack: Britain sends counter-terrorist forces to Yemen
http://www.telegraph.co.uk/news/worldnews/middleeast/yemen/6924502/Detroit-terror-attack-Britain-sends-counter-terrorist-forces-to-Yemen.html
Up to 20 British nationals travelled to the country this year to be trained by the local "branch" of al-Qaeda, according to Whitehall sources. Senior British military commanders and diplomats also believe that Yemen has now become the reserve base for al-Qaeda's operations in Afghanistan and Pakistan.
Radical Islamist Shebab rebels in Somalia ready to cross the Gulf of Aden to support their extremist Arab allies in Yemen Photo: REUTERS
Up to 20 British nationals travelled to the country this year to be trained by the local "branch" of al-Qaeda, according to Whitehall sources. Senior British military commanders and diplomats also believe that Yemen has now become the reserve base for al-Qaeda's operations in Afghanistan and Pakistan.
Radical Islamist Shebab rebels in Somalia ready to cross the Gulf of Aden to support their extremist Arab allies in Yemen Photo: REUTERS
Saturday, January 2, 2010
Spain to adopt 'very demanding' austerity plan: PM
http://www.google.com/hostednews/afp/article/ALeqM5g8XkLmLb-YLxi8moh1DBoZ-aUVOw
The public deficit -- which reflects spending by the central and regional governments as well as the social welfare administration -- represented 6.79 percent of Spain's gross domestic product (GDP), up from 1.2 percent in the same period last year.
The public deficit -- which reflects spending by the central and regional governments as well as the social welfare administration -- represented 6.79 percent of Spain's gross domestic product (GDP), up from 1.2 percent in the same period last year.
Yemen tightens security measures in coastlines
http://www.sabanews.net/en/news202150.htm
The step came after announcement of the Islamic Shabab group in Somalia that the group would send militants to help al-Qaeda network in Yemen to fight the government forces.
The step came after announcement of the Islamic Shabab group in Somalia that the group would send militants to help al-Qaeda network in Yemen to fight the government forces.
Record trade surplus in 2009
Korea’s trade surplus for 2009 was a record high for the country, totaling $41 billion, while its December exports rose at the fastest pace in over 17 months, according to the Ministry of Knowledge Economy yesterday.
Opposition leader Mousavi denounces Iran's crackdown
http://www.latimes.com/news/nation-and-world/la-fg-iran-mousavi2-2010jan02,0,7698911.story
In his first public comments since the recent protests, Mir-Hossein Mousavi calls for a restoration of civil liberties and said threats against his life would not deter him.
In his first public comments since the recent protests, Mir-Hossein Mousavi calls for a restoration of civil liberties and said threats against his life would not deter him.
Friday, January 1, 2010
Iran and Al-Qaeda Source of Growing Terror in Yemen
http://www.english.globalarabnetwork.com/200912314212/Yemen-Politics/iran-and-al-qaeda-source-of-growing-terror-in-yemen.html
Al-Qaeda claimed responsibility for the attempted airliner bombing as retaliation for an operation against the group’s Yemen-based cell.[2]
At least two former terror suspects released from Guantanamo Bay in November 2007 are in Yemen commanding al-Qaeda operations.[4]
Arab and Egyptian sources reveled that intelligence agencies in the region report a secret meeting in Yemen took place in November between high-level officials from Iran’s Revolutionary Guards Corps, Hezbollah and the Yemen-based Shia al-Houthi militants to plan and coordinate a new strategy for escalating the Saudi-Yemen border conflict.[9]
Al-Qaeda claimed responsibility for the attempted airliner bombing as retaliation for an operation against the group’s Yemen-based cell.[2]
At least two former terror suspects released from Guantanamo Bay in November 2007 are in Yemen commanding al-Qaeda operations.[4]
Arab and Egyptian sources reveled that intelligence agencies in the region report a secret meeting in Yemen took place in November between high-level officials from Iran’s Revolutionary Guards Corps, Hezbollah and the Yemen-based Shia al-Houthi militants to plan and coordinate a new strategy for escalating the Saudi-Yemen border conflict.[9]
North Korea bans foreign currencies
http://timesofindia.indiatimes.com/biz/international-business/North-Korea-bans-foreign-currencies/articleshow/5401173.cms
Reports say the decree warns of severe punishment for anyone using US dollars, euros, yuan and other non-North Korean currencies.
Reports say the decree warns of severe punishment for anyone using US dollars, euros, yuan and other non-North Korean currencies.
Korean Won Headed Up, Despite Unwinding of Carry Trade
http://www.forexblog.org/2009/12/korean-won-headed-up-despite-unwinding-of-carry-trade.html
Instead, investors have been flocking to Korea for the economic fundamentals. Despite an appreciating currency, Korea’s trade surplus is on pace to hit a record $45 Billion this year, with a healthy $15-20 Billion forecast for 2010.
Instead, investors have been flocking to Korea for the economic fundamentals. Despite an appreciating currency, Korea’s trade surplus is on pace to hit a record $45 Billion this year, with a healthy $15-20 Billion forecast for 2010.
Central London office rents are set to rise
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6972925.ece
The cost of renting an office in Central London is set to rise this year as the effect of a two-year development drought finally bites.
The cost of renting an office in Central London is set to rise this year as the effect of a two-year development drought finally bites.
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