Archive for September, 2010
China blamed the United States (U.S.) have violated the rules of the World Trade Organisation (WTO), after the U.S. Congress passed a law to put pressure on China so as not to rein in its currency. Bamboo curtain Affairs confirmed it had never pressed the yuan to continue to weaken.
The assertion was made the Chinese commerce ministry spokesman, Yao Jian as quoted by Xinhua news agency and was quoted by AFP on Thursday (09/30/2010), respond to calm the U.S. Congress decision that allows U.S. law imposing sanctions on China.
“(The decision) is inconsistent with relevant WTO rules to apply anti-subsidy investigation on the grounds of the currency,” said Yao.
“China has never weaken its currency to gain competitive advantage. U.S. can not use its trade deficit with China as a reason to adopt a policy of trade protection,” he added. Read the rest of this entry »
Ireland decided to save the Anglo Irish Bank with up to 34.3 billion euro bailout, equivalent to U.S. $ 46.6 billion. Funding to rescue the bank must be redeemed with a big hole in the Budget and Expenditure (Budget) Ireland up to 32% by 2010.
The value of U.S. $ 46.6 billion bailout was also nearly equal to the tax revenue of Ireland. But the Irish government felt the failure of Anglo Irish Bank can be a ‘nightmare’ for the country.
Irish Finance Minister Brian Lenihan said, ‘nightmare’ collapse of the Anglo Irish bank would make the country bankrupt.
2010 budget deficit will swell after the rescue of the bank. The plan, the new Irish government will present the 4-year state budget plan in November, to show how they cut the swelling deficit. An estimated budget deficit of Ireland in 2010 will reach 32% of GDP, or jumped sharply from 11.6% previously forecast.
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Seaweed downstream processing industry in Indonesia began ogled by Chinese investors. One of them Zhousan investors from China are interested to invest in seaweed processing sector in the country.
“Next week the Chinese investors want to talk to me from China Zhousan 7-8 October,” said Deputy Industry Minister Alex Retraubun in Indonesia Maritime Expo 2010 event at the JCC, Jakarta, Wednesday (29/09/2010).
Alex explains the investor plans to develop the seaweed industry downstream. Although he did not know exactly, investors would be to develop processed products what type of seaweed.
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Amid the global economy has not recovered, is very volatile currency movements. Countries in the world racing each other to intervene to protect the export of its currency so that the world will face a currency war.
Managing Director of IMF, Dominique Strauss-Kahn said, the risk of global currency war is still low and he believes it is highly unlikely to happen because it will cause a big conflict.
“I do not feel today there is a risk that large currency war. But it is part of the risk of weakening. I think the chances are low, because everyone can understand that too much conflict and will cause negative impacts. However it may happen,” explained Strauss-Kahn
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A total of five companies world-class cocoa processing industry will be planning to invest in Indonesia in the field of processing cocoa beans in Indonesia.
The companies include Cargill and Mars from the U.S., Armajarro from England, Olam International of Singapore, and Ferrero of Italy.
This was revealed from the results of the visit Mahendra Siregar, Deputy Minister of Trade in the European Cocoa Association (ECA) in Amsterdam Netherlands on 24 to 25 September 2010.
Mahendra revealed his side have a meeting one by one with the chocolate company. From that meeting expressed their willingness to invest and increase production from the producers of the cocoa industry (Cargill)
In addition, said Mahendra, the current foreign investment already underway in Indonesia in the field of cocoa processing industry in Batam with a production capacity of 50,000 tons. Unfortunately Mahendra who are reluctant to submit the name of the investor. Read the rest of this entry »
The International Monetary Fund (IMF) predicts that the German economy grew 3.3 percent in 2010 and two percent next year. This expectation is in accordance with the projection many private economists.
“Strong export growth and the strengthening of domestic demand into the background German outlook,” said IMF
Last July, the IMF estimates growth in Germany in 2010 only 1.4 percent. Meanwhile, the magazine Der Spiegel reported gloomy prospects for the European Commission three German banks. The three banks are WestLB, BayernLB, and HSH Nordbank. The deteriorating condition of the three banks are expected to disrupt the stability of the German market.
“For the commission, the rescue could be done in the context of long-term stability so that they do not give a permanent threat to the stability of financial markets,” said the European Commission in a letter to German Finance Minister Joerg Asmussen Young, as quoted by the AFP
Crude oil prices climbed back to nearly touch the level of USD 77 per barrel. Black gold price increase was in line with the strengthening of the Asian indexes.
Benchmark crude for November delivery rose six cents to USD76, 55 per barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Where previously the weekend also increased by $ 1, 31 and is at USD76, 49.
Where previously, data on U.S. durable goods orders and the company’s financial statements sparked Wall Street’s rise on Friday last week. The effect is also felt in Asia, where Asian indexes also rose.
The Dow rose 1.9 percent, then all the major stock indexes advanced in Asia led by Japan’s Nikkei, which rose to 1.4 percent.
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Stocks on Wall Street fell back after the disappointing release of unemployment data including the re-housing sector raised concerns about the economic recovery.
In trading Thursday (09/23/2010), the Dow Jones industrial average (DJIA) closed down 76.89 points (0.72%) to the level 10662.42. The broader Standard & Poor’s 500 index also fell 9.45 points (0.83%) to a level of 1124.83 and the Nasdaq fell 7.47 points (0.32%) to a level of 2327.08.
But trading volume was thin with a transaction on the New York Stock Exchange amounted to only 7.21 billion shares, below average last year reached 9.65 billion shares.
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How many of us know that there is a giant step in computer technology on 1980s? It was the revolutionary change from one to one mainframe to client into cloud computing environment. back to early 1980 computer in the city is served by giant mainframe connected to client. It makes the programming should be done by queuing instead of sharing information from many clients in the same time. Today’s computer works with cloud computing principles, where shared resources, programs and information are provided on demand to computers and other device. The system works like electricity network. It has multi connection and crossing each other at the same time without waiting one-to-one connection.
The problem arises because the system tends to share almost any information and it is vulnerable to data theft. This could be disadvantage to Enterprise Security. When the cloud computing is used it is crucial to make sure that the data should be secured on transit, processing and storage. The possible solution for this is data encryption in Cloud Computing Security software. The logic behind encryption is to make the data is unreadable to anyone except who is given the key. An algorithm is used to encrypt the data. This is considered to protect the data from unauthorized use. To increase the protection of the data, for example processing financial data during online credit card approval, the encryption and decryption should be done in real time.
Who might need the security software or cloud computing? The protection is highly demanded for retails industries to access personal data such as medical record, finance o government information. After all, most business today is done by procession sensitive information. It could be sensitive because it contains personal financial code, or because of the data is related to customer data in marketing. Protection to transaction processed in private cloud or public cloud is crucial to avoid abuse or unauthorized use of credit card number, social security number or medical records.
A number of European countries made a successful billion-dollar fund from the sale of government securities. Bond issuance is expected to be a little forgotten crisis of confidence in the euro zone which had plummeted because of soaring budget deficits.
Ireland claimed the funds earned about 1.5 trillion euros ($ 1, 96 billion). At about the same time, Greece also claimed to have earned 390 million euros of debt and Spain also booked a 7.04 billion euros worth of funds.
Forex.com analyst Eric Voloria rate, the success of Ireland issued a debenture to be proof that the country was still able to fund their own finances in the country.