Posts Tagged ‘International’
Japan will buy European bonds to support economic recovery in Blue Continental. This latest commitment from countries in Asia after China submitted a similar plan last year.
This support is Japan’s right as the main countries to contribute and as a means of improving the credibility of the debt.
Meanwhile, the Nikkei business daily, quoting Noda said Japan would consider buying more than 20 percent of the total offering debt securities to be issued this month.
Vice Finance Minister for International Cooperation Japan Rintaro Tamaki added, the bond purchase plan will become an option for Japan though too quickly delivered.
A number of European media reported that Japan’s willingness to help the European Union’s debt crisis will be realized through a stabilization program and the European Financing Facility (EFSF) worth 400 billion euros.
According to Nikkei, Tokyo will buy approximately 100 billion yen (930 million euros) of approximately five billion euros of bonds offered Europe later this month. Japan’s efforts to help the EU economy through purchases of debt securities was filed after circulating information that Portugal will receive a grant package of crisis. Read the rest of this entry »
The leaders of the G20 countries finally agreed to seek joint solutions to end the war exchange rates and global trade imbalances, the two major issues that a lot of debate during the conference that took place November 11 to 12 at the House of Convention and Exhibition (COEX), Seoul.
The dispute between the United States with China and Germany subsided, they agreed to form a team to draw up the guidelines of indicators to measure the trade imbalance. Trade Minister Mari Elka Pangestu said that following the negotiation process, the team consists of all the G20 countries and is expected to complete the job next year. The team is not under the coordination of the International Monetary Fund as proposed by the U.S. because of the refusal of China and Germany.
“War of the exchange rate eventually resolved with a compromise because the issue could make the G20 rupture. The solution they have working groups on macro economic framework. This working group should produce gudielines indicators to measure the state of imbalance or not and what to do,” said Mari while chatting with a reporter at The Prince Park Tower Hotel, Tokyo, Read the rest of this entry »
A total of three foreign investors planning to build cocoa processing plant in West Sulawesi (Sulbar). Three investors include China Geogchoubou Group Company (CGGC) from China, Barry Callebaut from the Netherlands, and International Container Group of the Philippines.
For investors CGGC of China plans to build cocoa processing plant with a capacity of 20,000 tons of cocoa per month processed into butter and powder. Starting in 2011 the construction of the factory was able to do so in 2012 was able to operate.
CGGC also is working on a capacity of 350 MW hydroelectric project in Karama River Mamuju Sulbar worth Rp 7 trillion. Even CGGC also will perform high-way construction of roads along the 102 km with an investment of Rp 500 billion, including the development of container ports Rp.2 trillion worth.
Other investors who will go to the cocoa sector in which Barry Callebaut Read the rest of this entry »
Exchange of Singapore and Australia will soon merge and form one of the largest financial trading center and most diversified in the world. Merger of the two exchanges is expected to be realized in the second quarter-2011.
Singapore Stock Exchange (SGX) will buy the Australian Stock Exchange (ASX Ltd) worth U.S. $ 8.2 billion to further establish the ASX-SGX Ltd.. Price was meant by 48 Australian dollars per share for premium ASXm 40% of the price of last trade.
Both authorities had agreed to maintain the stock of each brand. The deal must get approval from the regulator is expected to be completed in the second quarter of 2010.
The merger was intended to maximize the strength of resource-rich Australian stock exchange with Singapore which has more international profile, as well as connecting with the market booming Shina. Read the rest of this entry »
Three international rating agencies to give AAA credit rating to the European Union has taken the initiative in the provision of trillion-dollar reserve fund to help the Euro Zone economic difficulties.
All three rating agencies are Moody’s Investors Service, Fitch Ratings and Standard & Poor’s, each with the same rating issued to the European Union that have not been utilized. Still, economists warn that Europe is not burdened with debt in Ireland has entered the level of supervision.
According to Moody’s, the decision was based on a series of factors including an irrevocable guarantee unconditionally by the countries that participate in the cash reserve fund managed by the European Financial Stability Fund program (EFSF).
Meanwhile, Fitch Ratings states that the fund worth 440 billion euros (USD556 billion) could be decreased to only 428 billion euros, in line with the weak ratings of Greece, who was at the level of BBB-minus.
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Sixty countries will propose a tax on international financial transactions that could generate 40 billion euros ($ 50 billion) per year is spent for development.
“Taxes are what we propose is five cents of every 1000 euros, this is not much, but enough to start this movement,” said French Foreign Minister, Bernard Kouchner, quoted by the AFP on Thursday (02/09/2010).
He added, this value is equivalent to 30 billion euros to 40 billion euros per year. This is to say when he hosted a meeting of officials from 12 countries gathered in Paris to review the expert advice on the initiative on behalf of the 60 countries involved.
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After the floods the worst hit Pakistan, currently the country’s dire need of fresh funds amounting to USD10 billion. Therefore, Pakistan asked the International Monetary Fund (IMF) in order to ease their lending requirements.
The plan next week, Finance Minister of Pakistan Abdul Hafeez Shaikh will travel to Washington to persuade the IMF to restructure the loan or considering new financing.
For your information, this country suffered losses caused by flood is enormous. Therefore, it is very reasonable if Pakistan can not meet the eligibility criteria to the current IMF loan.
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PT Pertamina (Persero) and Kuwait Petroleum International Company (KPC) has signed MOUs (memorandums of understanding / MoU) to conduct a feasibility study development Balongan refinery expansion.
MoU was signed by the President Director of KPI Hussain Esmaiel and Director of Planning and Investment Risk Management Ferederick Siahaan, Pertamina headquarters KPI, Kuwait, on Thursday (19/08/2010). The signing was witnessed by the head of Kuwait Petroleum Corporation (KPC), Saad Al Shuwaib and Director
Pertamina, Karen Agustiawan.
Mentioned, plans capacity expansion of the refinery with 200-300 thousand barrels per day will be integrated with a petrochemical complex to be built in West Java.
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Indonesia finally realizing his desire to be members of the producing countries, cocoa products (chocolate) world. Currently the government has sent a proposal to the membership of the International Cocoa Organization (ICCO).
“We already apply submission,” said Trade Minister Mari Elka Pangestu said in her office, Jalan Medan Merdeka Timur, Jakarta.
With the merging of Indonesia to the ICCO, it is hoped Indonesia could play a role more in terms of the policy of cocoa in the world. Each Membership ICCO represent the state and has an obligation to pay membership dues paid to the ICCO.
PT International Nickel Indonesia Tbk (INCO) posted a net profit of U.S. $ 142.6 million in the first half of 2010 increased 312.3% from the prior year same period to U.S. $ 34.581 million. Increased profit was driven by increased sales and average selling price of nickel.
Total EBITDA issuers that INCO is coded in the first half of 2010 amounted to U.S. $ 214.5 million, up 76% from the first three months of 2010.
The increase in EBITDA from quarter to quarter, mainly due to higher average realized prices for nickel in matte and rising sales of nickel in matte, “said the press release.
Dalan first six months of 2010, INCO continue focusing on improving operating efficiencies in order to achieve a structural reduction of operating costs. It includes an integrated business planning to identify efficiency improvements in a number of field operations.
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