Festivals ahead, Pawar bats for sugar decontrol Aug 10, 2008
"The benefit of market fluctuation is being taken away particularly by middlemen, traders/hoarders and forward market traders," he has written in his letters while demanding that the industry cannot be decontrolled. He has warned that even the announcement of decontrol could lead to upward spiraling of prices. (India Times, India -- Community News)
Enerplus announces 2008 second quarter results and increase in monthly cash distribution rate Aug 7, 2008
The changes in the fair value of our interest rate swaps and CCIRS that result from movements in forward market interest rates cause non-cash interest to fluctuate between periods. The following table summarizes the cash and non-cash interest expense recorded: > At June 30, 2008 approximately 15% of our debt was based on fixed interest rates while 85% had floating interest rates. (Canada Newswire)
High crop demand ups Terra profits Aug 3, 2008
"We have all those consumers in developing countries that all of a sudden are moving to better diets, and consuming more protein, more calories, that is really driving the demand for grain and other foods overall,'' he said.Like other commodities, prices for fertilizer are now largely set globally. Just a decade ago, U.S. manufacturers supplied all the country's nitrogen fertilizer needs. Today, the country imports about 60 percent of its needs, Bennett said.U.S. natural gas prices had long been... (Sioux City Journal, IO)
First Financial Bancorp Reports Second Quarter 2008 Financial Results Jul 30, 2008
2008 Outlook Based on the overall economic outlook for the remainder of 2008, including but not limited to such factors as inflation, unemployment, growth, and forward market interest rates, management's 2008 outlook remains largely unchanged. We continue to anticipate low single digit growth in total loans, while total deposits are expected to experience a low single digit decline in balances with transaction deposits growing at a low single digit rate and time deposits declining at a similar... (PR Newswire)
UK business department calls for remedy to UK energy markets UPDATE Jul 28, 2008
The committee recommends: 'Ofgem investigates urgently why gas producers seem unwilling to trade in the forward market. . (Forbes)
Rio Tinto Says Abu Dhabi Smelter `Dead' as UAE Shifts Use of Gas Supplies Jul 24, 2008
The forward market has responded quite strongly. . (Bloomberg -- Australia & New Zealand)
Yuan yet to see equilibrium after 21% rise Jul 22, 2008
He noted the five-year future prices for the yuan already indicated a depreciation from the three-year and four-year prices on the forward market. However, "no one can tell the exact equilibrium price," said Lu Zhengwei, chief economist of the Fujian Province-based Industrial Bank. (Xinhuanet, China)
Vietnam Dong Investors Use Black Market for Dollars; Traders See 18% Drop Jul 4, 2008
Union Investment in Frankfurt, Germany's third-biggest fund manager, forecasts a smaller decline in the dong than the forward market and is buying contracts, said , the firm's emerging-market investor, who helps oversee the equivalent of $285 billion. Union Investment expects an 11 percent drop to 19,000 by Dec. 31. (Bloomberg -- Asia)
Why oil has gone up: production did not get investment Jul 2, 2008
They typically can't, as there is no comparable, say, 10-year forward market for airline tickets. It would be imprudent to hedge costs and not income over such a long period. (Business Report, South Africa)
Tight fund flows may impact gilts, bonds Jun 9, 2008
In the forward market, the apprehension on tight liquidity conditions will keep the cost of rupee high. This in turn will result in higher premia to be paid for booking forward dollars. (Business Standard)
Bets mount on a stronger yuan May 27, 2008
Investors increase bets that China will allow the yuan to strengthen. Welcome to The Sydney Morning Herald. (Sydney Morning Herald -- Business)
Derivatives a big hit as JSE cements place in top 20 May 20, 2008
In my opinion currency futures will thus begin to compete with the existing over-the-counter currency forward market as domestic importing and exporting companies will be able to hedge their currency positions at a fraction of the cost charged by the banks. Moreover, currency futures may be seen as less of an administrative burden for corporates, which do not need to request permission to trade the instruments nor do they have to report their currency future trades to the SA Reserve Bank. (Business Report, South Africa)
Enerplus announces 2008 first quarter results May 9, 2008
0 million) such as DDAnges in the fair value of our derivative instruments based on forward markets, and future income taxes that do not reduce or increase our cash flow from operations. Future income taxes can fluctuate from period to period as a result of changes in tax rates as well as changes in interest, royalties and dividends from our operating subsidiaries paid to the Fund. (Canada Newswire)
Rupee rises as exporters cash in, oil eyed May 9, 2008
Traders said a few banks bought rupees locally to take advantage of an arbitrage opportunity in the overseas non-deliverable forward market. "In the NDF market, the rupee is trading 2-3 paise (0.02-0.03 rupee) above the local market," a foreign bank trader said. (India Times)
Re slips to 41 on dollar demand May 8, 2008
The premium in forward market has also gone up due to huge demand for dollar. The premium on six-month forward dollar, payable in October, closed at 34 paise to 36 paise, up from 31-1/2 paise - 33-1/2 paise on Tuesday. (India Times, India -- Intl Business)
Commentary: Give Oil A Future May 7, 2008
For a soybean farmer a 12-month forward market is quite adequate to tell him how many acres to plant. For Royal Dutch Shell (nyse: - - ), maybe the action needs to stretch out to 2028 to take the risk out of an Arctic platform or a transcontinental pipeline. (Forbes)
* Malaysia, Singapore, Taiwans currencies to rebound: Goldman May 6, 2008
These currencies have high correlation to the yuan and the forward market has already fully priced in the Chinese currencys appreciation. The Singapore dollar and the ringgit have moved almost exactly the same amount as the yuan since the Chinese depegged the currency in July 2005, and they have less hassle premium priced into their currencies due to the more open capital accounts, Goldman said. (Taipei Times, Taiwan -- World)
Forward trading: Govt may follow China Apr 20, 2008
People dont realise that there is quite an active forward market for commodities in China. Also, events in India have shown that the ban on forward trading did not alter the underlying uptrend in wheat prices which reflects what is happening in world market. (India Times)
RBI takes forwards route to rein in Re Apr 19, 2008
MUMBAI: Actions have shifted to the forward currency market from its spot counterpart, with the Reserve Bank of India (RBI) intervening through the forward market by entering into sell-buy swaps to manage liquidity ... Senior forex managers state that going forward, the proportion of sterilisation of dollar fund inflows through the forward market could be larger than that through the issue of bonds under the market stabilisation route ... In a bid to avoid this, the central bank enters into... (Economic Times)
Govt unwilling to ban futures trading Apr 18, 2008
If it does not, we will talk to the Forward Market Commis-sion and take a decision on (banning futures trading in other) essential commodities, Mr Pawar said. As part of Budget 2007, the government announced setting up of the Abhijit Sen Committee to study the extent of impact, if any, of futures trading on wholesale and retail prices of agricultural commodities. (India Times)
JPMorgan Says Use Rupee Forwards to Gain From India, U.S. Rate Difference Apr 7, 2008
Swapping rupees for dollars in the forward market helps take advantage of the widening India-U.S. rate ,'' Mumbai-based Agarwal said in an interview ... The Reserve Bank may buy rupees in the spot market and swap them back for dollars in the forward market'' to avoid the risk of currency losses, Agarwal said ... Demand for dollars in the forward market from the central bank will help boost the forward premium on the U.S. currency, he said. (Bloomberg -- Asia)
House prices could fall 10% this year according to Lib Dems Apr 4, 2008
We have a forward market for property, which indicates that prices will fall by 19% this year and that, in 5 years, they will not increase at all. In other words, they will fall substantially in real terms. (Home Move)
Recession in US economy to hit Indian budget projection: CPM Mar 16, 2008
"In order to check speculation and inflation, futures trading must be stopped in all essential commodities though the government has removed pulses, wheat and rice from the purview of forward market due to our pressure," CPM Politburo member Sitaram Yechury told reporters. Stating that the US has officially admitted that its economy was going through rough times, he said, recession, falling value of dollar and growing unemployment in America would have adverse impact on India and the government... (India Times, India -- Intl Business)
Rupee reversal puts importers in a spot Mar 8, 2008
In the forward market, premia on contracts saw an upward movement. Also Read. (India Times)
Dollar, rupee in short supply Mar 4, 2008
In the forex market, banks and corporates are entering into buy-sell swaps to tide over the dollar crisis, which entails buying dollars in the spot market and selling them in the forward market. So far, there has been no intervention seen from the Reserve Bank of India (RBI), which usually steps into the market whenever the dollar-rupee exchange rate fluctuates excessively. (India Times)
'Petrol hike to fuel 9.6% CPIX' Mar 4, 2008
The next central bank decision on interest rates takes place on April 10 and many market commentators, as well as the forward market, have started talking about the increased risk of potential rate hikes. I-Net Bridge. (iAfrica.com)
Enerplus announces 2007 year end results and reserves information Feb 28, 2008
As the forward markets for natural gas and crude oil fluctuate and new contracts are executed and existing contracts are realized, changes in fair value are reflected as a non-cash charge or non-cash gain in earnings. See Note 3 for details. (Canada Newswire)
Developer withdraws pitch for Crossings on Hood Road Feb 27, 2008
Story Last modified 2/25/2008 - 9:07 pm Originally created 022708. Residents objected and the developer cited poor market conditions. (Florida Times-Union)
Yuan Drops Most in 2 Weeks on Speculation Central Bank Wants to Slows Pace Feb 26, 2008
The pace of appreciation over recent weeks has accelerated and this has a knock-on effect on the forward market and expectations of future yuan strength,'' said Dwyfor Evans, a currency strategist with State Street Global Markets in Hong Kong. If the pace of appreciation attracts further capital into China, then this is counter-productive for the authorities. (Bloomberg -- Asia)
Carbon credits can't be traded for long-term ECBs Feb 23, 2008
This means, the forward market in carbon credits is active only for one year, even though there is a potential for it to go beyond one year, to say, up to 10-years. Any upfront payment for delivery of a commodity (in this case, carbon credits) within one year of payment being made is recorded in the accounts of the company as an export and is not subject to any restrictions. (India Times, India -- Intl Business)
Get Your Sea Legs Jan 30, 2008
Investors can take comfort that Freeport trades for an estimated 75% if its net asset value based on the forward market in copper and other metals. 1 2 3 Next Page. (SmartMoney)
Investors, take heart from India's growth story Jan 28, 2008
Turmoil in the forward market made things only more grim. To buy shares in the forward market, an investor has to deposit around 20% to 25% of the value of shares with the broker as margin money, which in turn gets deposited with stoc 00004000 k exchange ... Therefore, brokers panicked and started selling the shares bought in the forward market when investors could not bring the depreciated amount. (India Times, India -- Intl Business)
India set to strengthen commodities regulator Jan 23, 2008
Unlike India's autonomous stock market regulator, the commodities regulator, known as the Forward Market Commission (FMC), is controlled by the Consumer Affairs Ministry and needs to seek government permission for many decisions. "We are going to bring an ordinance this month to strengthen the Forward Markets Commission. The cabinet meeting is on January 24," Food Processing Minister Subodh Kant Sahai said ... "The main point is that the Forward Market Commission will become autonomous. Today,... (Reuters India)
Watchdog raises concern at bread price increases Jan 21, 2008
"Surely they have different supply contracts and agreements with their suppliers and have taken different positions in the forward market for wheat?". On the general issue of cost pressures, a food industry analyst noted that labour costs were probably falling because of the constant increase in mechanisation by the firms. (Business Report, South Africa)
Forward Commitments Jan 20, 2008
Since the forward market is private, it is also largely unregulated ... However, this also does not imply that anything shady or fraudulent is going on in the forward markets ... The fact remains, however, that in the forward markets there are no guarantees that terms of a contract are going to be respected. (Suite101.com)
RBI takes steps to control rising Re Jan 17, 2008
This has forced RBI to take the forward market route, said a treasury head at a foreign bank. In fact, the central bank is also believed to have told banks to square up their open positions on the same day and avoid entering into contracts with other banks for a future date. (India Times)
Futures trade in carbon credit Jan 8, 2008
MUMBAI: Indian companies implementing clean development mechanism (CDM) projects to earn carbon credits have till now been conservative about entering the forward market to sell the credits. The forward market was thus practically non existent ... According to carbon market consultants, the price in the forward market ranges between Euro 10 to Euro 14, depending on the nature of the project and as to whether it is registered with the UNFCCC (United Nations Framework Convention on Climate Change)... (India Times, India)
PG&E Electric Rates to Drop 1.1 Percent on January 1 Dec 28, 2007
However, since that time, the forward market prices for natural gas and electricity have dropped considerably. Natural gas, which is the fuel for about a third of the state's power generation, is a significant factor in establishing market prices for electricity. (PR Newswire)
FIIs bidding adieu to equities to embrace debt Dec 27, 2007
Treasury managers at multinational banks and bond houses say that many of the FIIs are actually purchasing bonds and then booking dollars in the forward market ... For instance, a person buying dollars in the forward market would have to pay a higher premium for a one-two-month contract (in the range of 1. (India Times)
'Hedge carbon positions' Dec 1, 2007
Hedge carbon positions'-India Business-Business-The Times of India. Hedge carbon positions'1 Dec 2007, 0218 hrs IST. (India Times, India -- Intl Business)
Will the dollar be able to regain its prominent position? Nov 30, 2007
That was because the forward market was fairly balanced. South Korea has a huge forwards order book, as its big shipbuilders and other exporters sell their dollar receipts for future dates. (India Times)
Vault Energy Trust ("Vault" or the "Trust") Announces Its Consolidated Financial and Operating Results for the Three and Nine Months Ended September 30, 2007 Nov 14, 2007
On April 27, 2005, Chamaelo Energy Inc. ('Chamaelo") completed a bought deal private placement financing issuing 55,000 Series D subscription receipts at a price of $1,000 per Series D subscription receipt for aggregate gross proceeds of $55,000,000. Effective January 1, 2007, issue costs of $1,960,000 have been classified with the debt component and will be amortized over the life of the debentures. For the nine month ended September 30, 2007, amortization of $420,000 (2006 - $338,000) has been... (CCNMatthews Press Releases)
Bank of Korea to Urge Shipbuilders to Sell Vessels in Won to Curb Currency Nov 11, 2007
Korean shipbuilders typically sell dollars and buy won in the forward market to keep a stronger currency from eroding the value of vessels sold abroad when revenues are converted ... The central bank said on Oct. 23 the probe is intended to figure out the cause of imbalances in the forward market and take measures to counter them based on the outcome of the review. (Bloomberg -- Asia)
Trading boom to spur commodity jobs growth Nov 7, 2007
The introduction of a forward market in steel has led to significant demand for professionals with knowledge of steel. Companies taking a cross-commodity approach offering clients a basket of related commodities such as power, gas and oil or aluminium and energy will further fuel the expansion. (San Diego Union-Tribune -- Business)
Around the Markets: A bet against a peg Nov 2, 2007
"The pricing in the forward market shows that money is being placed on bets that Hong Kong will revalue its currency," said Chris Turner, head of currency research at ING Financial Markets in London, adding he believes the authority will prevail ... The forward market is "certainly a reflection of the interest rate differential," said Patrick Bennett, a currency strategist at Soci ... 2 trillion a day in foreign-exchange trading, the turnover in the forward market was $362 billion, according to... (International Herald Tribune -- Business Asia)
Rambler Metals and Mining Financial Results Year Ended 31 July 2007 Oct 26, 2007
The directors have assessed whether the exploration and evaluation costs have suffered any impairment by considering the probable reserves, resource estimates, future processing capacity, the forward market and longer term price estimates for Copper. The directors do not consider that the exploration and evaluation costs are impaired. (CCNMatthews Press Releases)
RBI intervention helps halt Re's march Oct 16, 2007
RBI also continued buying at the forward market, in an attempt to lend some balance to the monetary situation. This caused forward premia rates to go up further from their previous levels, with the one-month contract closing at 1. (India Times)
Rupee slips to 39.36/37 Oct 13, 2007
Over the past few days, the central bank has been entering into sell-buy swaps with nationalised banks, i.e. selling rupees in the spot market and buying them in the forward market. Sources in the money market estimate that the central bank could have bought $5 billion through these swaps in the past few days. (India Times)
Precious metals rally as U.S. dollar hits low Sep 29, 2007
He added, We will manage our cash flows around copper and we'll certainly manage our currencies using the forward market. Frankly, our investors are really looking to benefit from the upside of gold and we share that point of view. (Globe and Mail -- Business)
Speculation of Saudis revaluing riyal increase Sep 25, 2007
Hedge funds have set going a wave of speculation, buying the riyal through the foreign exchange forward market. More than $10bn was pumped into the riyal last week. (FT.com -- Markets)
Alkane -- Slowly But Surely Sep 20, 2007
Forward market contracts indicate that electricity prices will continue to rise gently in the medium term. . (Sky News)
Small cos bank on exotic derivatives Sep 8, 2007
After being hit by a weak dollar and volatility in commodity prices, mid-sized corporates are now making use of exotic currency derivatives and are covering commodity exposures in the forward market ... Banks are helping mid-sized companies protect against fluctuation in the value of commodities such as platinum, lead and nickel by making purchases in the forward market ... We have helped a trading company, a battery manufacturer, and a steel company hedge their commodity exposure through the... (India Times)
MNC wheat bid leaders to sell more Sep 3, 2007
However, the company, which offered 50,000 tonnes on the back of its forward market position on the CBOT, is understood to have been told this was not possible unless its price was lower than the L1 and L2 bidders. PEC is understood to be pushing us-vs-them argument against the government buying from MNCs. (India Times)
India Inc opts for currency options Aug 30, 2007
Although importers can sell their dollars in the forward market, they do not want to take a view because given the volatility there is a possibility that their view may go wrong ... The exporter reserves an option of selling the foreign currency in the forward market, but pays a premium as he sells dollars at a strike price determined by him. (India Times)
Voluntary carbon-trading step in right direction Jul 24, 2007
Welcome to The Sydney Morning Herald. Stephen BartholomeuszJuly 24, 2007. (Sydney Morning Herald -- Business)
Carry Traders in Asia Look for Alternative Bets Jul 17, 2007
The implied cost of borrowing Taiwan dollars using the forward market is 2 ... At an implied cost of less than 1 percent, it's cheap to borrow yuan for a year in the offshore, non-deliverable forward market. (Bloomberg -- Columnists)
Futures:• North Sea Problems, Demand Outlook Propel Crude To Highest In 11 Months Jul 14, 2007
"The Brent market remains the chief locomotive for the bull market here, with pipeline issues that could last for a few weeks resulting in a nearby squeeze that has pushed the nearby futures above the forward market." said Tim Evans of Citigroup Global Markets. UK North Sea oil and gas production could be affected for weeks after a ship's anchor damaged a pipeline needed to export associated gas to Britain. (Investors Business Daily)
Rupee recovers smartly, hits fresh 9-year high vs dollar Jul 12, 2007
34 against the US currency in morning trading, boosted by heavy capital inflows and higher dollar premium in forward market. In fairly active trade at the Interbank Foreign Exchange (forex market), the Indian unit resumed higher at 40. (Daily News & Analysis)
Westpac Banking recommends buying Philippine peso as risk eases Jun 22, 2007
"The nondeliverable forward market is still developing and liquidity is improving but it remains an attractive alternative to comparative onshore products" for the peso, said Mike Moran, a senior currency strategist at Standard Chartered in New York. Standard Chartered, the British bank that makes most of its money in Asia, forecasts a year-end dollar-peso rate of 44. (International Herald Tribune -- Business Asia)
Re dips to near 41-level vs dollar in early trade Jun 15, 2007
Importers were making dollar purchases since the last couple of days, forex dealers said and added that they were also seen creating dollar positions in forward market. The Reserve Bank of India (RBI), which is suspected to be intervening in the forex market to prevent the rupee's surge, seemed to be active after the inflation fell below 5. (Daily News & Analysis)
Re closes weak; takes downward cycle Jun 9, 2007
According to a treasury manager with a private sector bank, there were unwinding of positions in the non-deliverable forward market ... The non-deliverable forward market offers an alternative hedging tool for foreign investors having exposure to the local currency. (India Times)
RBI may lose hold over rupee Jun 8, 2007
Rupee futures were likely to be a preferred hedging and investment mechanism against currency fluctuations over the existing non-deliverable dollar/rupee forward market (NDF), some analysts say. "NDF has counterparty risk exposures and in futures contract traded on exchange there are no counterparty exposure risks because of the margining system," Rajwade said. (Financial Express)
Viewpoint: Indian outsourcers can learn from Japan's mistake Jun 6, 2007
Currently, they are hedging their currency risk in the forward market. But it is costly to buy protection in a unidirectional market. (International Herald Tribune -- Business Asia)
FIIs investing in India can hedge in Dubai Jun 5, 2007
Until now, offshore entities could hedge their rupee exposures only in the non-deliverable forward market ... The non-deliverable forward market offers an alternative hedging tool for foreign investors having exposure to the local currency. (India Times)
Bond yields ease, market awaits inflation data May 17, 2007
In the forward market, the six month forward premium ended lower at 4. 19% from its previous close at 4. (Financial Express)
