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Showing posts from February, 2010

World trade falls by lowest 12 percent since economic crisis

Director-General Pascal Lamy, in his report on the state of play in the Doha Round to the General Council on 22 February 2010, said that “although some progress is taking place, gaps remain”. He suggested that the stocktaking at the end of March be undertaken by senior officials, adding that “the Geneva process remains ready to translate political movement into concrete and substantive progress”.WORLD TRADE WEAKENSWorld trade fell by 12 percent last year as the economic crisis caused the biggest drop since 1945, giving new urgency to the need to conclude trade talks, WTO chief Pascal Lamy said Wednesday.Lamy said the worst contraction in more than 60 years made it "economically imperative to conclude" the Doha Round of global trade talks, which started in 2001 and remained deadlocked after nine years of negotiations due to lingering disagreements between developed and developing countries on market access for agricultural and industrial goods.The unprecedented reduction in g…

Is the laggard Anz Going to steal the march on the Big 3 Banks

ANZ  Ready to launch into Indian marketANZ appears to have all but secured its long-awaited Indian banking licence after the nation's reserve bank recommended to the Indian government that it be allowed to open a branch in Mumbai. An unnamed official with India's Ministry of Finance was quoted by India's Economic Times as saying the Reserve Bank of India had given its approval to the ANZ application for a banking licence. The final decision on the matter now sits with India's Finance Minister.ANZ BANK IN INDIARBI ( RESERVE BANK OF INDIA ) has recommended to the finance ministry that ANZ Bank be allowed to open a branch in Mumbai, opening the doors to the bank that was caught up in the 1992 securities scam and had left the country at the turn of the millennium.  At the turn of the millennium, ANZ, or the Australia and New Zealand Banking Group, was among the top three foreign banks in India, but it made an exit from the country in 2000 after selling its Grindlays Bank u…

Is qantas really a good stock pick ?

Is Qantas a good stock pick , well looking at the market signs today  it sure is telling us  where Qantas is heading  at least for the short term ,DOWN and so is its aircraft from what we saw today on the news, yet another Qantas incident.
Shareholders dump Qantas stock Shareholders savaged the Qantas stock  today bringing it down a heft 8 % to $2.73  and their Qantas  aircraft followed suit by coming down as well after being unable to operate its  landing gear properly. Qantas had bad news to spare today - in the air and on the ground - after a plane with troublesome landing gear was forced to turn back as the company announced a massive fall in profit.
The carrier disappointed investors when it forecast that annual earnings before tax would only reach 300 to 400 million Australian dollars ($268 to 358 million). The airline had already made 267 million Australian dollars ($239 million) in the first six months, but higher fuel and depreciation costs were expected to reduce second-half …

World Top bankers secretly meet in Australia

According to news received in Australia  theworld's top central bankers began arriving ion 6th Feb 2010 in Australia yesterday as renewed fears about the strength of the global economic recovery ( Dubai , Greece , Spain )  gripped world share marketsSecret meeting of World Bankers PEOPLES BANK OF CHINATop world Bank officials meet in australiaRepresentatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, the Herald Sun reports.  This event was organised by the Bank for International Settlements , the two-day talks are shrouded in secrecy with high-level security believed to have been put in place for this event.The event is to be dominated by Asian delegations and is expected to include governors of the Peoples Bank of China, the Bank of Japan and the Reserve Bank of India. There has been ongoing fears that countries including Greece, Portugal, Spain and Dubai could d…

China taking over USA

News crop , coco cola , AIG some of the top companies have been partly taken over by Chinese companies. China is investing  in big American companies like  apple and  citigroup and slowly  taking control of American companiesChina investment corporation which is the front for  sovereign wealth fund of china has been steadily increasing its stakes in American companies.And Times reveals that China’s sovereign wealth fund “quietly snapped up” more than $9 billion worth of shares last year in some of America’s biggest corporations, including Morgan Stanley, Bank of America and Citigroup last yearChina Investment Corp., the government’s $300 billion sovereign investment fund, has had a mixed investment record since its creation in 2007 with an initial stake of about $200 billion. The CIC’s cash supply was later increased to $300 billion as the Chinese government tried to figure out what to do with a mountain of foreign reserves, now swelling to more than $2.4 billion.

Shocking Stock markets this friday

we had a shocking run this friday.. the stockmarket is bleeding  due to the diseased US markets …In  australian Stock market  news today…Harvey Norman (HVN) down10c to 362c - 2Q sales increased 6.8% from a year ago. On a like-for-like basis Australian sales were up 6.5% for the quarter. They have reiterated guidance of a 40% increase in pre-tax profit for the half year. HVN reported total group sales growth of 4% for the half and 2.5% LFLResMed (RMD) doing well - up 6% to 635c - after reporting a better-than-expected 36% rise in 2Q net profit to $US45.9m. One broker predicted $US41.5m.TABCORP Holdings (TAH) management says a demerger involving their gaming and casino businesses is not on the cards.  They announced a better than expected earnings result yesterday. TAH up 5c to 710c.Street Talk says both Extract Resources (EXT) andCuDeco (CDU) are lining up for capital raisings to help them with project development. EXT down 3.7% to 728c and CDU down 8.9% to 356c.AED Oil (AED) acquires…