All eyes on AirAsia and MAS results as others turn in losses Nov 20, 2009
5mil in Q3 2009, due predominantly to foreign exchange losses and falling passenger yields. The International Air Transport Association reported a miniscule 0. (The Star Online, Malaysia -- Business)
Asia Considers Capital Controls as `Hot Money' Inflows Threaten Recovery Nov 20, 2009
Asia Considers Capital Controls as Inflows Threaten Recovery - Bloomberg. Updated: New York, Nov 20 04:24 London, Nov 20 09:24 Tokyo, Nov 20 18:24. (Bloomberg -- Asia)
Case of SC's '3 Hebrew Boys' heads to jury Nov 20, 2009
Despite a lack of financial training, they convinced at least 7,000 people - starting in late 2004 - that they knew the secret of how to make money on the foreign exchange market, though they invested less than 0 ... "This is not a case about risk. It's about defrauding you. All these presentations about money going into the (foreign exchange) market - lies - that's not risk.". (Fresno Bee -- Business)
Japan wants yen to be the anchor of Asia Nov 20, 2009
The move comes as Japan's ministry of finance signalled a willingness to continue intervening aggressively on the foreign exchange markets to hold down the yen, but is part of a longer term strategy designed to allow Asia to compete with the economic blocs in Europe and the Americas. Hiroshi Watanbe, director-general of the international bureau at the ministry of finance, said: "Japan is happy for other countries to link themselves to the yen. Since the currency crisis of 1997-8, the movement of... (Yahoo News -- Asian Economy)
Brazil's `Bizarre' Taxes Threaten to Undermine Confidence, Federated Says Nov 19, 2009
In their view, it reduced the foreign exchange appreciation. . (Bloomberg -- Latin America)
Susan Boyle's "I Dreamed a Dream" is Amazon Music's Largest Global CD Pre-Order Nov 19, 2009
These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation,... (Yahoo! Wire -- Entertainment News)
NetEase.com Reports Third Quarter 2009 Unaudited Financial Results Nov 19, 2009
During the current quarter, the Company reported a net foreign exchange gain of RMB25 ... 9 million) for the preceding quarter and a net foreign exchange loss of RMB68 ... The quarter-over-quarter and year-over-year changes in foreign exchange gains/losses were mainly due to the translation gains/losses arising from the Company's Euro-denominated bank deposit balances as of September 30, 2009 as the exchange rate of the Euro against the RMB fluctuated over the periods. (Yahoo! Wire -- Entertainment News)
North Korea's Global Arms Trade Finances Nuclear-Bomb Work, UN Panel Says Nov 19, 2009
The report said arms sales banned by the UN have increasingly become one of the countrys principal sources for obtaining foreign exchange. . (Bloomberg -- Canada)
Richard N. White Nov 19, 2009
Through his association with the American Concrete Institute and also as a teacher of foreign exchange students, he was able to travel to a great many places in the world. At one time he and his wife traveled for seven weeks as guests of the country of China where he gave numerous lectures. (Chetek Alert, WI)
Canada's Currency Depreciates as Crude Oil Pares Advance, Stocks Retreat Nov 19, 2009
Crude oil was trading comfortably above $80, and now its down; the U.S. dollar has strengthened back from its weaker point across the board, and the Canadian dollar is following in tandem, said , Toronto-based director of foreign exchange at Bank of Montreal, Canadas fourth-biggest lender. We just seem to be trading sideways. (Bloomberg -- Canada)
Finance: Western Union clinches deal Nov 19, 2009
Western Union had entered into a deal with FX Africa Foreign Exchange, making Western Union's money transfer services available via Travelex Retail branch network in South Africa, it emerged yesterday. The service is available for money transfers in Travelex Retail branches. (Business Report, South Africa)
Forex bankers alarmed by clearing plans Nov 19, 2009
Foreign exchange bankers reacted with alarm on Wednesday to proposals from Barney Frank, the powerful chairman of the House financial services committee, that would require trades in currency derivatives to be processed through a centralised clearing system. Bankers said the proposals would introduce new systemic risks into the financial system and that the sheer size of the market would dwarf the risk that could be sustained by any clearing house. (FT.com -- Markets)
Icap predicts CDS surge Nov 18, 2009
Michael Spencer, chief executive, said on Tuesday that along with a rise in electronic trading, the introduction of clearing would expand the market for instruments such as credit default swaps mirroring the effect that the arrival of electronic trading had on futures, foreign exchange and other asset classes. EDITORS CHOICE. (FT.com -- Markets)
Correa makes most of opportunities given Nov 18, 2009
Correa learned English prior to attending St. John's -- where he was a student before transferring to Penn State his sophomore year -- as a foreign exchange student in Australia. Correa has always loved to travel. (Daily Collegian, PA)
Yen Near Five-Week High as Stock Drop, Bank Concerns Boost Safety Demand Nov 18, 2009
The business environment for Japanese banks is still severe so theres a need for them to procure more capital, said , general manager of foreign exchange at Tokyo Forex & Ueda Harlow Ltd., Japans largest currency broker. Its a risk-aversion factor, so the yen may be bought. (Bloomberg -- Japan)
The Better Ghana Agenda: So Far, So Better Nov 18, 2009
The significance of the above is that, big and small businesses can now obtain their foreign exchange requirements more easily from both the banks and forex bureau bringing the rate almost to a par ... 2billion which have made foreign exchange available for budgetary support and to shore up balance of payments. (Ghana Web, Ghana)
China Investors Open More Stock Accounts on Rally, Yuan Appreciation Bets Nov 18, 2009
The jumped 14 percent last week, the biggest gain in a year, as the State Administration of Foreign Exchange said it will allow more institutions to offer currency exchange services. The shares also rose as overseas investors bet the government will resume the yuans appreciation, boosting the value of companies earnings when converted into dollars. (Bloomberg -- Asia)
* Fed seeking to ensure strong US dollar Nov 18, 2009
Bernankes comments come with the greenback under heavy pressure in foreign exchange markets, raising complaints from around the globe, including China, about the weak US currency about impacts on various economies ... Bernanke stopped short of rhetorically intervening in foreign exchange markets, he said. (Taipei Times, Taiwan -- World)
* Pact frees Chinas QDIIs to invest in Taiwans bourse Nov 18, 2009
China has 12 QDIIs and its State Administration of Foreign Exchange had granted the 12 QDIIs investment quotas of about US$10 billion (NT$325 billion) as of the end of last month. Given the 10 percent maximum investment limit in Taiwans stock market, the 12 QDIIs will be able to inject up to approximately NT$30 billion in the local bourse. (Taipei Times, Taiwan -- World)
Basmati prices shoot up Nov 18, 2009
A governmetn official said "The quotes for MMTC's import tender for non basmati varieties were between $379 and $550/tonne. That is an average $450/tonne. If non basmati rice can fetch that price in the world market today, it stands to reason that basmati rice, which is premium quality, should fetch atleast twice or more that amount in exports. Only then will exporters be able to import twice the amount of non basmati for domestic markets on every tonne of basmati exported." Last year, basmati... (India Times)
* TAIEX slides amid concern over MOU Nov 18, 2009
In the foreign exchange market, the NT dollar has traded within a range of NT$33. 2 and NT$32 against the greenback over the past six months. (Taipei Times, Taiwan -- World)
Obama's China Visit Yields Little Progress Nov 18, 2009
China went public with its concerns earlier this year, when in March that he was "worried" about China's vast U.S. dollar holdings, which make up the majority of its more than $2 trillion in foreign exchange. China's top banking regulator weighed in on Nov. 15, the day of Obama's arrival in Shanghai, saying that dollar depreciation, plus Washington's unwillingness to raise interest rates, was and property markets and putting economic recovery at risk. (BusinessWeek)
Griffin Picking `Juggernaut' Edsparr to Run Bank Means Do-Over at Citadel Nov 18, 2009
Two years later he transferred to London, where he ran the banks fixed-income business as well as markets including foreign exchange and securitized products. Edsparr lives in Kensington, an upscale neighborhood in west London, with his wife and three children. (Bloomberg)
Bret Harte runners sweep section titles Nov 18, 2009
A foreign exchange student from Germany, Zech completed the course in 20:55. Like the boys, the Bret Harte girls had a strong pack to spur their fourth straight section title run. (San Andreas Calaveras Enterprise, CA)
Call of Duty(R): World at War: ZOMBIES Available Now From The App Store Nov 17, 2009
Activision Publishing generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," future," "plan," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming" and similar expressions to identify forward-looking statements. Factors that could cause Activision Publishing's actual future results to differ materially from those expressed in the... (Yahoo! Wire -- Entertainment News)
Nikkei closes down, concerns about gov't economic policy Nov 17, 2009
"The way it has been recently is that Tokyo shares do not get a straightforward boost from gains in overseas stock markets. What people are looking at pretty closely today is the foreign exchange market, with the dollar having hit levels below 89 yen," said Hideyuki Ishiguro, a strategist at Okasan Securities. The dollar was flat against the yen, Tuesday at 89. (Xinhuanet, China)
Australian dollar to test new highs Nov 17, 2009
Currency futures can be read as a guide to the value that foreign exchange dealers expect a currency to have in months to come. Last week Rob Shelley observed an upwards trend in the price of gold in US dollars and said the precious metal could reach $US1300 a ounce, based on patterns that he saw in the daily price. (Sydney Morning Herald -- Business)
Hanwei announces third quarter financial results Nov 17, 2009
VANCOUVER, Nov. 17 /CNW/ - Hanwei Energy Services Corp. ('Hanwei' or the 'Company') today announced its financial results for the three and nine months ended September 30, 2009 (Canada Newswire)
Euro Weakens as IMF Says Global Recovery May Be Sluggish, Stocks Decline Nov 17, 2009
50 per euro, said , vice president of foreign exchange in Tokyo at BBH Investment Services Inc., a unit of New York-based Brown Brothers Harriman & Co.. Its probably some position-adjustment buying of dollars, Kubo said. (Bloomberg -- Japan)
Gold May Climb to Record for Second Day as Weakening Dollar Fuels Demand Nov 17, 2009
Thats another signal that emerging market central banks are looking to increase their foreign exchange allocation in gold, said Shane Oliver, head of investment strategy with AMP Capital Investors Ltd. in Sydney. There are a lot of uncertainties in the U.S. dollar and not much confidence in other currencies either. (Bloomberg -- Australia & New Zealand)
Basmati on the boil, MEP may go up by $100/t Nov 17, 2009
Last year, India exported 2 million tonnes of basmati that fetched the country $2 billion in foreign exchange. This year, the All India Rice Exporters Association (AIREA) has projected exports of 2. (India Times)
Will Beijing strengthen yuan? Nov 17, 2009
China foreign exchange reservesMany, including the US, believe the renminbi's link to the falling dollar has left it acutely undervalued, giving China's export sector an unfair trade advantage ... China has built up foreign exchange reserves of $2,273bn. (CNN -- International)
READ: Bernanke's speech Nov 17, 2009
The foreign exchange value of the dollar has moved over a wide range during the past year or so. When financial stresses were most pronounced, a flight to the deepest and most liquid capital markets resulted in a marked increase in the dollar. (USA Today -- Money)
Just the facts Nov 17, 2009
Currency Watch November 13 - Bloomberg (Oliver Biggadike and Matthew Brown): "Brazil, South Korea, Russia and other developing nations are fighting a losing battle to mute gains in their currencies as a falling dollar and economic recovery create more demand for their assets than central banks can handle. South Korea Deputy Finance Minister Shin Je Yoon said ... the country will leave the level of its currency to market forces after adding about $63 billion to its foreign exchange reserves this... (Asia Times Online)
Wall St jumps as Fed sees rates low Nov 17, 2009
Even though Bernanke made a rare statement on foreign exchange markets, saying the Fed was watching the US dollar closely, the greenback found very little reprieve. The United States and China failed to reach an agreement over currencies at a summit of the Asia Pacific Economic Cooperation forum in Singapore. (India Times)
EADS Says A380 Model's Cost Is `Concern' as Superjumbo's Deliveries Stall Nov 17, 2009
Operating profit was burdened by foreign exchange rates, and the rate of the euro to the dollar remains one of EADSs biggest headaches, Ring said. Airbus delivered 104 aircraft in the quarter, the same number as in the year-earlier quarter. (Bloomberg -- Germany)
Bernanke sees sustained US growth despite 'headwinds' Nov 17, 2009
" Bernanke's comments come with the greenback under heavy pressure in foreign exchange markets, raising complaints from around the globe about the weak US currency that could have significant impacts on various economies. Because of the Fed's near-zero interest rate policy, the dollar is being used by investors for so-called carry trades in which they borrow greenbacks at low rates to invest in higher-yielding assets such as commodities and bonds of other governments. This increases pressure on... (Channelnewsasia.com)
› 'Jobs killer' rand Nov 17, 2009
Many doubt whether SA has the foreign exchange reserves required to intervene in the market to weaken the currency. Some say it is not even within the scope of domestic policy to influence. (iAfrica.com)
› Rand too strong - Gordhan Nov 17, 2009
He said, though, that Treasury would assist to increase foreign exchange and gold reserves beyond the $40-billion mark ... Included among these reforms is the removal of the 180-day rule requiring companies to convert their foreign exchange into rand. (iAfrica.com)
Sterling Shoes Income Fund (TSX:SSI.UN): Fund Announces Third Quarter 2009 Results Nov 17, 2009
A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the following factors: general economic conditions and markets and, in particular, the potential impact of the current economic downtown, the cost and availability of capital, the possibility of deterioration in the Company's working capital position, the impact on the Company's liquidity if it were to go offside of the covenants in its... (CCNMatthews Press Releases)
Open Range Energy Corp. Reports Third Quarter Results, Provides Operational Outlook and Announces First-Half 2010 Guidance Nov 17, 2009
Such risks and uncertainties include, without limitation, risks associated with oil and natural gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, counterparty credit risk, currency fluctuations, imprecision of reserve estimates, environmental risks, increased competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory... (CCNMatthews Press Releases)
Bucking Horse Energy Inc. Announces Third Quarter Financial Results Nov 17, 2009
There was a foreign exchange loss of $369,383 for the nine-month period ended September 30, 2009. Interest expense increased to $5,093,854 for the nine-month period ended September 30, 2009. (CCNMatthews Press Releases)
Ghanas Swiss Ambassador intensifies campaign Nov 17, 2009
This is in recognition of the fact that a substantial amount of Ghanas foreign exchange resources is earned through remittances and investment made by Ghanaians abroad could provide a pool of expertise for the countrys socio-economic development. From: Kwaku Boatin, Geneva. (Ghana Web, Ghana)
Mutual financial reliance binds U.S., China Nov 17, 2009
And while there has been no sell-off of Treasurys, there were reports here over the summer that China sold a small portion, about $25 billion worth, and sought to diversify its foreign exchange reserves. One concern voiced by critics in America, and by human rights advocates in this country, is that the growing economic links between the countries and the U.S. dependence on China financing its debt is causing the Obama administration to mute its criticism of China on human rights issues. (MSNBC -- International)
Spreadtrum Communications, Inc. Announces Third Quarter 2009 Results Nov 17, 2009
The year-over-year decrease was primarily due to a decline in foreign exchange gain. The sequential decrease was primarily attributable to the receipt of an income tax refund from Chinese tax bureau in 2Q09 but not in 3Q09. (Yahoo! Wire -- Entertainment News)
Rupee marginally up 8 paise at 46.13 a dollar Nov 17, 2009
At the Interbank Foreign Exchange (Forex) market, the local unit edged higher by 8 paise to 46. 13 a dollar. (India Times, India)
EADS Stays Cautious on FY After Q3 Dip Nov 16, 2009
Besides a downturn in aviation demand, EADS has been feeling the pinch from a weak dollar coupled with declining foreign exchange hedge rates and higher Rnses. EADS said oil price increases and the wider economic environment created a risk for commercial aircraft customers. (ABC News -- Business)
Asia Stocks, Currencies, Gold Rise on APEC Stimulus Pledge; Dollar Weakens Nov 16, 2009
Nations in the region dont want China to falter, as its economy is leading the global recovery, said , Tokyo-based chief manager of foreign exchange trading at Mitsubishi UFJ Securities Co. Theres no chance that China will let the yuan appreciate dramatically. The dollar will continue to be under selling pressure versus higher-yielding currencies. (Bloomberg -- Asia)
Ballard Announces Distribution Agreement for Telecom Backup Power in India Nov 16, 2009
We feel as strongly as ever that a substantial market opportunity exists for fuel cells in India. " Hal Koyama, IdaTech's Chief Executive Officer said, "We are looking forward to supplying ACME with our ElectraGen(TM) natural gas and hydrogen systems, both of which incorporate Ballard's fuel cell stacks. (Canada Newswire)
China hits out at US protectionism Nov 16, 2009
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China, Japan Policymakers Say Fed's Low-Rate Policy May Fuel Asset Bubbles Nov 16, 2009
China, Japan Say Feds Low Rates Fueling Speculation (Update1) - Bloomberg. Updated: New York, Nov 16 04:24 London, Nov 16 09:24 Tokyo, Nov 16 18:24. (Bloomberg -- Asia)
Japan wants yen to be the anchor of Asia Nov 16, 2009
The move comes as Japan's ministry of finance signalled a willingness to continue intervening aggressively on the foreign exchange markets to hold down the yen, but is part of a longer term strategy designed to allow Asia to compete with the economic blocs in Europe and the Americas. Hiroshi Watanbe, director-general of the international bureau at the ministry of finance, said: "Japan is happy for other countries to link themselves to the yen. Since the currency crisis of 1997-8, the movement of... (Yahoo News -- Asian Economy)
Rupee up 20 paise at 46.11 a dollar Nov 16, 2009
At the Interbank Foreign Exchange (Forex) market, the local unit appreciated by 20 paise to 46. 11 a dollar. (India Times, India -- Intl Business)
IPO watch: Investors with high risk should consider 'Cox and Kings' Nov 16, 2009
The company is into leisure travel, corporate travel, foreign exchange transactions, and visa p 00004000 rocessing. It offers domestic and international travel packages to both individuals and groups. (India Times)
Oil and gas find will benefit the country- Amua-Sekyi Nov 16, 2009
She said the discovery would also improve Ghana's international trade balance, foreign exchange receipt and global standing. Nana Amua-Sekyi made the observation when she delivered a paper on "The Impact of the Oil and Gas Find on Human Rights", at a day's seminar organised by the School of Applied Arts to commemorate the second open- day celebration of the academic facility in Takoradi. (Ghana Web, Ghana)
China Calls for Responsible Global Monetary Policies Nov 16, 2009
27 trillion in foreign exchange reserves in dollar-denominated assets, and Premier Wen Jiabao urged the United States in March to safeguard the value of China's holdings. Zhu, who did not mention the United States by name, was speaking on the first full day of U.S. President Barack Obama's visit to China. (ABC News -- Wire)
Kenya: Erratic Short Rains Fuel Power Bills to Record High Levels Nov 16, 2009
Other minor components of the bill include charges on foreign exchange, inflation and taxes and levies. Adverse impact. (allAfrica.com)
The International Monetary System: Reforms to Enhance Stability and Governance, International Finance Forum, By Dominique Strauss-Kahn Nov 16, 2009
Providing global financial insurance Recent experience has demonstrated, once again, that fast-paced and hard-hitting financial crises can lead to large demands for foreign exchange and external liquidity. In some countries, the need arises from underlying balance of payments problems. (IMF News)
China Cool to Stronger Yuan as IMF Calls for Rise Nov 16, 2009
BEIJING (Reuters) - China's Commerce Ministry on Monday rebuffed calls for the yuan to appreciate, signaling resistance to change in a controversial foreign exchange policy that loomed over U.S. President Barack Obama's first visit to the Asian giant. Outside pressure has been building on Beijing to let the yuan rise after more than a year of it being nearly frozen in place against the dollar, with the latest appeal voiced by the head of the International Monetary Fund on Monday. (ABC News -- Business)
EADS Says Super-Jumbo Jet Remains `Matter of Concern' as Deliveries Stall Nov 16, 2009
Operating profit in the quarter was burdened by foreign exchange rates, EADS said, without giving a figure. The dollars drop is challenging EADS performance because of a weakening hedge book over time, the company said. (Bloomberg -- Europe)
Employers don't have the guts to invoke dismissals Nov 16, 2009
Together they made up well over 1 000ha of citrus exporting farms, all employed plenty of disadvantaged people, all earned foreign exchange and all are now either defunct or will be soon. A drive through the previously prosperous but now ghost towns of Masvingo, Chinoyi and Karoi and others in Zimbabwe gives you some idea of what awaits us unless the government stops its posturing and attends to its responsibilities. (Business Report, South Africa)
* UAE plans to build US$5bn oil refinery on Pakistani coast Nov 16, 2009
The proposed refinery will produce energy fuels out of Arabian and Iranian crude oil, and its final cost is expected to go beyond US$5 billion partly because of the foreign exchange component, as well as the project expansion plans. This story has been viewed 283 times. (Taipei Times, Taiwan -- World)
Aqua Hotels acquires Maile Sky Court Nov 15, 2009
The net loss for the most recent quarter included foreign exchange losses related to the guarantee of loans in New Zealand, the company said in a news release. However, Castle reported an improvement in its earnings before interest, taxes, depreciation and amortization a measure of operating profit known as EBITDA. On that basis, Castle reported a profit of $98,295 in the third quarter compared to an EBITDA loss of $91,051 in the third quarter of 2008. (Honolulu Advertiser)
Yuan as world currency can be good for India Nov 15, 2009
One of the main reasons for the expected appreciation of the yuan is the mountain of China's foreign exchange reserves currently estimated around $2. 3 trillion. (India Times)
Dollar Drops as Europe's Economic Optimism Spurs Demand for Higher Yields Nov 15, 2009
Dollar Falls as Evidence of Europes Recovery Spurs Risk Demand - Bloomberg. Updated: New York, Nov 15 04:21 London, Nov 15 09:21 Tokyo, Nov 15 18:21. (Bloomberg -- US)
