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Archive for October 27th, 2008

FPL GROUP REPORTS HIGHER PROFITS (USA)

Posted by Gilmour Poincaree on October 27, 2008

Monday, October 27, 2008 – 9:11 AM – Modified: 12:42 PM

South Florida Business Journal

FPL Group on Monday reported higher third quarter next income, along with plans to reduce capital expenditures by $1.7 billion next year, a result of the economic downturn.

About $1.3 billion of the reduction involves the deferral of new project development including wind energy projects.

The company’s (NYSE: FPL) third quarter net income was $774 million, or $1.92 a share, up from $533 million, or $1.33 a share, in the same quarter last year.

The Juno Beach-based company’s adjusted earnings were $506 million, or $1.25 a share, for the third quarter, up from $494 million, or $1.23 a share, for the same quarter of 2007.

FPL Group’s Florida Power & Light Co. utility reported third quarter net income of $314 million, or 78 cents a share, down from $326 million, or 81 cents a share, for the prior-year quarter, which the company said reflected “the impact of the economic downturn in the state.”

Retail sales of electricity dropped by 4.3 percent from the prior year, with weather-related electricity use down by 1.5 percent.

FPL Energy, the competitive subsidiary of FPL Group, reported third quarter net income of $483 million, or $1.20 a share, up from $220 million, or 55 cents a share, in the prior-year quarter.

Adjusted earnings for FPL Energy were $215 million, or 53 cents a share, up from $181 million, or 45 cents a share, in the same quarter last year.

FPL Group shares were down $2 in afternoon trading at $41.20. The 52-week high was $73.75 on Jan. 7. The 52-week low was $33.81 on Oct. 10.

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PUBLISHED BY ‘SOUTH FLORIDA BUSINESS JOURNAL’

Posted in ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, USA | Leave a Comment »

SYRIA HITS OUT AT ‘TERRORIST’ US

Posted by Gilmour Poincaree on October 27, 2008

Last updated at 16:30 GMT, Monday, 27 October 2008

Syria’s foreign minister has accused the US of an act of “criminal and terrorist aggression” over what it Walid Muallem - We put the responsibility on the American government says was a helicopter raid on its territory.

Walid Muallem said Sunday’s attack saw four US aircraft travel eight miles inside Syrian airspace from Iraq and kill eight unarmed civilians on a farm.

He said those who died were a father and his three children, a farm guard and his wife, and a fisherman.

The US has not confirmed or denied the alleged raid.

However, a unnamed US official was quoted by the AFP news agency as saying that its forces had mounted a “successful” raid against foreign fighters threatening US forces in Iraq.

The US has previously accused Syria of allowing militants into Iraq, but Mr Muallem insisted his country was trying to tighten border controls.

‘An opportunity’

Speaking at a news conference in London, Mr Muallem said the raid on the town of Abu Kamal was “not a mistake” and that he had urged the Iraqi government to investigate.

“We consider this criminal and terrorist aggression. We put the responsibility on the American In pictures - Grief and anger in Syria - CLICK ON THE PHOTO TO VIEW PICTURES OF THIS EVENT government,” he told reporters following talks with UK Foreign Secretary David Miliband.

He added: “All of them [the victims] are civilians, Syrian, unarmed and they are on the Syrian territories.

“Killing civilians in international law means a terrorist aggression.”

Asked if Syria would use force if a similar operation was mounted, he said: “As long as you are saying if, I tell you, if they do it again, we will defend our terrorities.”

Referring to the US presidential election, he said: “We hope the coming administration will learn the mistakes of this administration.”

Three children and a married couple were said to be among the dead

Mr Muallem and Mr Miliband were scheduled to hold a joint press conference, but Mr Miliband withdrew. The UK government has declined to comment on the raid.

The US official quoted by AFP said: “Look when you’ve got an opportunity, an important one, you take it.

“That’s what the American people would expect, particularly when it comes to foreign fighters going into Iraq, threatening our forces.”

 

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PUBLISHED BY ‘BBC NEWS’ (UK)

Posted in INTERNATIONAL, MIDDLE EAST, SYRIA, USA, WARS AND ARMED CONFLICTS | Leave a Comment »

FOREIGN MINISTRY SUMMONS US CHARGE D’AFFAIRES IN DAMASCUS, HOLDS US ADMINISTRATION RESPONSIBLE FOR THE DANGEROUS AGGRESSION IN ABU KAMAL

Posted by Gilmour Poincaree on October 27, 2008

Sunday, October 26, 2008 – 09:45 PM

DAMASCUS, (SANA) – An official source on Sunday announced that four US helicopters coming from Iraq violated the Syrian airspaces over Abu Kamal area (al-Sukkariah Farm) targeting a civilian building, killing eight citizens.

The source identified the civilians killed in the aggression as Daoud Mohammad al-Abdullah and his four sons, in addition to Ahmad Khalifa, Ali Abbas Al-Hassan and his wife. Another citizen was also wounded, the source added. Later, the US helicopters flew back to the Iraqi airspace.

Syria, while condemning this act of aggression, holds the US forces responsible for this aggression and all of its repercussions, calls on the Iraqi government to shoulder its responsibilities and open an immediate investigation into this dangerous violation and prevent using the Iraqi territories for launching aggression on Syria.

The Deputy Foreign Minister summoned the Charge d ‘Affairs at the US Embassy in Damascus, informing her of Syria’s protest and condemnation of this dangerous aggression, holding the US administration full responsibility for it. The Iraqi Charge d’affaires has also been summoned to the Foreign Ministry for the same purpose.

Earlier, a media source said that four US military helicopters had violated the Syrian airspaces eight km over al-Sukkariah Farm, in Abu Kamal area at 4.45 P.M Sunday.

The US helicopters launched an aggression on a civilian building under construction and opened fire at the workers inside the building, killing eight civilians, including the wife of the building guard, and wounding another. The helicopters then left towards the Iraqi territories.

Mazen

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PUBLISHED BY ‘SYRIAN ARAB NEWS AGENCY’

Posted in INTERNATIONAL, MIDDLE EAST, SYRIA, USA, WARS AND ARMED CONFLICTS | Leave a Comment »

KAGARA REVIEWS SPENDING ON FALLING METALS PRICES – prompted by a sharp drop in metals prices

Posted by Gilmour Poincaree on October 27, 2008

October 27, 2008

by Alex Wilson

KAGARA is reviewing its spending and operations, prompted by a sharp drop in metals prices.

The Perth-based miner said that even at current metals prices its copper and zinc operations continue to be cash flow positive.

“However, in view of the significant deterioration in metal prices since the end of the quarter, the company is now conducting a review of capital, operations, development and exploration expenditure aimed at optimising cash flows and profits,” Kagara said.

The company said it will release the results of the review with its quarterly production report, due Thursday.

Dow Jones Newswires

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PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, OCEANIA | Leave a Comment »

ARCH COAL REPORTS HIGHER 3Q PROFITS, LOWERS FULL-YEAR EARNINGS FORECAST (USA)

Posted by Gilmour Poincaree on October 27, 2008

1:28 PM EDT, October 27, 2008 – Updated: 45 minutes ago

by Jim Suhr – AP Business Writer

ST. LOUIS (AP) _ Coal-producing Arch Coal Inc. said Monday its third-quarter earnings more than tripled, beating Wall Street’s expectations. But the miner lowered its earnings outlook for the year, citing near-term softening of coal demand.

Yet even with the weakening global economic backdrop, Arch’s chairman and chief executive told analysts the St. Louis-based company remained on pace for its best financial showing ever. “Despite the significant decline in coal equity value since July, underlying coal supply-demand fundamentals remain positive and suggest to us the correction has been overdone,” Steven Leer said.

“Coal has been the fastest-growing primary energy source in the world over the last five years, and this trend is not likely to fundamentally reverse course, even with a weakening global economy,” Leer said.

Arch, one of the world’s biggest coal producers, reported net income of $97.8 million, or 68 cents per share, compared with $27.2 million, or 19 cents per share, a year ago. Revenue during the July-through-September period rose to $769.5 million from $599.2 million.

Analysts surveyed by Thomson Reuters expected, on average, earnings per share of 59 cents and revenue of $764.08 million.

Arch said it now expects profit of $2.30 to $2.55 for 2008, down from its forecast of $2.50 to $2.85 per share in July. “We do think the anxiety of the global slowdown is creating or causing our customers to be cautious,” prompting Arch to lower its earnings outlook for the year to reflect an expected fourth-quarter drop in demand because of milder weather and the threat of a global economic recession, Leer said.

Stifel Nicolaus & Co. analyst Paul Forward said the company’s lowering of its forecast through the rest of the year “implies a likely further negative contribution from Arch’s trading operations in the weakening coal price environment.”

Arch shares fell 60 cents, or about 3.2 percent, to $17.90 in midday trading Monday.

The company sold 34.8 million tons of coal in the third quarter, compared with 34 million tons in the same period last year and 34.4 million tons the previous quarter. Each ton Arch sold fetched on average $20.38, up from $16.02 a year ago but down from $21.04 during the second quarter. The company’s operating margin per ton averaged $3.73, roughly double from $1.87 average a year ago.

Arch, which extracts the bulk of its coal from its western U.S. operations, said sales of its coal mined from Wyoming’s Powder River Basin were up slightly to 26.2 million tons, from 25.9 million a year ago, after rail service bounced back from seeing its shipments slowed by bad weather. Each ton sold on average for $11.21, 55 cents a ton better than the same time last year.

The company said it sold 3.5 million tons of coal from its central Appalachia region for an average of $78.95 per ton, up from 3 million tons the company sold a year ago at an average of $46.41 a ton.

Arch said cooler weather patterns and the slowing U.S. economy have impacted coal consumption while U.S. coal production, according to government estimates, so far this year has increased roughly 13 million tons through the third week of October.

Still, Arch believes U.S. coal industry fundamentals remain intact, figuring that U.S. coal exports should reach nearly 80 million tons this year as imports of the ore likely will plateau at 34 million tons. Arch also estimates that 15.5 gigawatts of new coal-fueled capacity are under construction in the U.S. and expected to come online within the next four years, meaning more than 55 million tons of new coal demand annually.

Over the first nine months of this year, Arch said it earned $292 million, or $2.02 per share, on revenue of $2.25 billion, compared with $93.6 million, or 65 cents per share, on $1.77 billion in revenue during the same period last year.

Coal from Arch, which last year had revenue of $2.4 billion, fuels about 6 percent of all U.S. electrical generation.

The coal sector’s latest batch of earnings reports has been mixed. Last week, St. Louis-based Peabody Energy Corp. reported better-than-expected third-quarter profit as it benefited from strong global demand and higher prices in all regions. Peabody, fueling about one-tenth of all U.S. electricity generation and more than 2 percent worldwide, raised its earnings guidance for the full year.

Another coal producer, Consol Energy Inc., said Thursday it swung to a third-quarter profit on higher coal and gas prices, topping Wall Street’s estimates by 3 cents a share.

But shares of Foundation Coal Holdings Inc. hit a 52-week low last week after the company said it swung to a third-quarter loss and guided its full-year results below Wall Street’s expectations, citing labor shortages, increased regulatory activity and production restraints that have weighed on several coal producers.

On the Net:

Arch Coal Inc.

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PUBLISHED BY ‘NEWSDAY.COM’ (USA)

Posted in COAL, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, USA | Leave a Comment »

FEMALE BOSS MINES RICH SEAM OF SUCCESS

Posted by Gilmour Poincaree on October 27, 2008

October 28, 2008

by Adele Horin

IN AUSTRALIAN corporate life, Nicole Hollows, 37, is a stand-out. She is the chief executive officer of Nicole Hollows - Photo - Sahlan Hayesa public company but more amazingly she heads a mining business, Macarthur Coal.

Of Australia’s top 200 listed companies, only four were headed by women when a census was taken in February. And mining companies have a poor record of promoting women to senior positions – although its record is not as bad as the food and beverage industry’s.

Ms Hollows has pushed boundaries on her way to the top. As a chief financial officer, she asked to work part-time for a year after she adopted her daughter. She intended to share child care with her husband, Michael, the general manager of Pacific Petroleum Products.

The startled all-male board had never heard of a chief financial officer working part-time. But they told her if anyone could make it work, she could.

And she did. “It was tough. I did a lot of work at night,” she said. “You can only do that if everyone above and below you is prepared to support you.”

What she likes about being chief executive is being able to drive decisions. “But being boss is not what you imagine it to be,” Ms Hollows said.

“Many people think the CEO has to know everything. Your job is to make sure you have a good management team …

“You have to make sure they’re on the right track without micro-managing. But you don’t actually ‘do’ things.”

In making the big decisions, she has learnt a boss is always going to annoy someone.

The company has 300 employees, a revenue of $400 million and half-yearly profits of about $160 million.

Ms Hollows knows what it’s like to be mistaken for the PowerPoint operator. She said a lot of men in the mining industry know women only as wives, mothers, sisters and daughters.

“I don’t believe in glass ceilings but I believe women have to work harder to prove themselves.”

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PUBLISHED BY ‘THE SIDNEY MORNING HERALD’ (Australia)

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMY, INDUSTRIAL PRODUCTION, INTERNATIONAL, NATIONAL WORK FORCES, OCEANIA, THE WORKERS | Leave a Comment »

INVESTORS FEAR ACTION WILL COME TOO LATE

Posted by Gilmour Poincaree on October 27, 2008

October 27, 2008

Tokyo – World markets endured another wild ride on Monday with Japanese stocks hitting a 26-year low on fears that emergency steps by world governments will be too late to prevent a global recession.

The fresh turmoil came despite a pledge by the Group of Seven major economies to cooperate to bring stability to the ailing financial system.

Japan’s Nikkei index plunged 6.36 percent by the close, hitting its lowest level since October 1982 before the economic bubble.

It was another grim day across most of Asia. Taipei stocks sank 4.65 percent while Sydney finished with a loss of 1.6 percent. Manila reeled from a 12.3 percent plunge while Hong Kong share prices were down nine percent in afternoon trade.

“There is more pain left. The global turmoil does not appear to be resolving soon,” said Atul Mehra, head of capital markets with brokerage J M Financial in Mumbai, where stocks dropped more than five percent in the morning.

Bucking the trend, the Seoul market recovered from heavy early losses to end 0.8 percent higher after South Korea’s central bank cut its key interest rate by 75 basis points, its largest reduction yet.

The Group of Seven nations – comprising Britain, Canada, France, Germany, Italy, Japan and the United States – sought to calm nerves by affirming their “shared interest in a strong and stable international financial system.”

“We continue to monitor markets closely and cooperate as appropriate,” the statement from their finance ministers and central bank chiefs said.

At the same time, they voiced concern about “excessive volatility” in the value of the yen, which Friday soared to a 13-year high against the dollar as worried investors fled to the relative safety of the Japanese currency.

But the G7 statement had only a fleeting impact on the market, which is waiting to see whether the rich nations’ club will go so far as to launch joint market intervention to sell the yen.

The yen is unlikely to fall significantly unless the G7 takes “drastic steps such as intervention,” said Kenichi Yumoto, vice head of forex trading at Societe Generale in Tokyo.

Japanese Prime Minister Taro Aso announced fresh measures to support the ailing stock market including a bigger government fund to pump capital into banks if needed.

His finance minister, Shoichi Nakagawa, voiced heightened concern about the surging yen, warning that “excessive” and “disorderly” currency movements were destabilising Asia’s biggest economy.

“I will continue to watch currency markets with great interest,” Nakagawa said.

The renewed turmoil came as the International Monetary Fund moved to bail out Ukraine and Hungary which have suffered badly in the turmoil.

US and European markets suffered heavy losses on Friday, with Wall Street’s Dow Jones index ending down 3.59 percent.

Markets expect fresh steps by global authorities this week to try to stabilise shaky markets. The US Federal Reserve is expected to cut interest rates Wednesday from the current level of 1.5 percent.

Investors are also waiting for Thursday’s US gross domestic product figures for the third quarter, which are expected to show a contraction.

A slew of economic indicators and corporate results are also due this week in the United States, Europe and Japan, which analysts said were unlikely to give much cause for optimism.

“If the fall in markets has its origins in the fear of an international recession, then the coming week will be very bad,” said Carl Weinberg at High Frequency Economics in New York.

“The economic calendar is full of indicators that will be uniformly atrocious.” – Sapa-AFP

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PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, THE FLOW OF INVESTMENTS | Leave a Comment »

SUBPRIME DANCE LEAVES WALLFLOWERS IN ITS WAKE

Posted by Gilmour Poincaree on October 27, 2008


October 22, 2008

ANN CROTTY by Ann Crotty

Even if you’re reading this online in an ashram in the foothills of the Himalayas, you will by now realise that the music has indeed stopped. And the dancing has come to an end.

Citigroup’s ex-chief executive Chuck Prince caught the mood of it all back in July last year, when he observed: “When the music stops, in terms of liquidity, things will get complicated.”

“But,” he added, “as long as the music is still playing, you’ve got to get up and dance; we’re still dancing.”

Months later, the subprime music ground to a halt and Citigroup announced the first of the losses that were to total $20 billion (R201.1 billion at yesterday’s rate).

By November, Prince was out of Citigroup. Rightly so, don’t you think? Of course – except that if Prince had stopped dancing two years earlier, in a prescient attempt to protect Citigroup from the worst of the subprime damage, he would probably have been fired earlier.

This is the very plausible, but troubling, view of Howard Marks, a US-based investment adviser.

In a fascinating letter sent out to his clients in July this year, Marks argued that if Prince had taken Citigroup out of the subprime market when he felt it was in dangerously unstable territory, the group would have lost out on some compelling and easy-to-make short-term profits.

This would have attracted considerable attention from other players in the market, in particular the hedge funds which, Marks believes, would have forced Prince out. Prince would have looked embarrassingly stupid. And the longer the subprime dance continued, the more stupid he and Citigroup would have looked.

The problem is, of course, the market’s fixation on the short term. It is not an American problem, it is a global one.

And it is fed not so much by the competitive market pressure on companies such as Citigroup to perform, but by the competitive pressure on the various layers of agents and operators in the wider fund management industry.

The desperate need to justify their slice of commission is what ensures that Prince and his mates don’t get much of a chance to see beyond the current six months.

This six-monthly, or even quarterly, performance fixation seems particularly inappropriate given that pension and provident funds – which tend to make up the bulk of investments – are supposed to generate returns for the long term. It moves beyond being just inappropriate when, as is currently evident, the fixation on short-term profits threatens long-term viability.

“The things that maximise profit in the short run often serve to decrease profits and increase risk in the long run,” Marks points out. It is not, as John Maynard Keynes suggested, that we are all dead in the long run, it is rather that we are all much poorer in the long run.

Of course, while Prince was dancing up a storm in the subprime market, not only was he safe from hostile shareholder action, he was pocketing extremely generous remuneration packages. Amazingly, if he had been doing what was good for the long-term health of the company, Prince would have been considerably poorer.

The short-term obsession of equity markets, and the ability of remuneration packages to reinforce it, extend well beyond the financial sector. Increasingly in any sector of the market, a long-term share option incentive is something that starts to pay out in three years. Not surprisingly, executives cash in as quickly as they can.

It is likely to be some years before the market recovers fully from the current crisis. That might give us all just enough time to contemplate longer time horizons before the dancing begins again.

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PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

Posted in AMERICAS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

MEASURES TO COMBAT MARKET CRISIS NOT WORKING: SHAPIRO (South Africa)

Posted by Gilmour Poincaree on October 27, 2008

October 27, 2008

Johannesburg – The price of South African shares continued to drop on Monday. By mid-morning, the Professor of Economics and Co-director of Undergraduate StudiesJSE all-share index had lost 3.15 percent to 17 876.98.

“All of the measures taken are not working,” said Sasfin’s David Shapiro.

“You can’t apply logic anymore – it doesn’t work.

“When you think you’re close to the bottom, it keeps going lower,” he said.

Shapiro added that massive withdrawals were currently being made from hedge funds and unit trusts.

“No one understands the extent of how far this can go.”

Shapiro said that he expected markets to once again end lower on Monday.

“We’re not seeing any form of support. Someone has got to break rank and start buying.

“This current situation just has to burn itself out – there’s nothing you can do,” Shapiro concluded. – Sapa

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PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

Posted in AFRICA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, SOUTH AFRICA, THE FLOW OF INVESTMENTS | Leave a Comment »

BANCO MUNDIAL NOMEIA NOVO DIRETOR PARA O BRASIL

Posted by Gilmour Poincaree on October 27, 2008


Sábado, 25/10/2008, 01:27h

SÃO PAULO (SP)- O Banco Mundial (BM) anunciou hoje a nomeação do ex-ministro das Finanças do Senegal Makhtar Diop como diretor do organismo para o Brasil.

Diop ocupa atualmente o cargo de Diretor de Estratégia e Operações para a América Latina e o Caribe, e a partir do 1º de janeiro substituirá no Brasil John Briscoe, que anunciou sua aposentadoria.

“O senhor Diop trabalhará estreitamente com as autoridades brasileiras para facilitar soluções de desenvolvimento que respondam às prioridades do país, assim como a promoção do maior papel global do Brasil e da cooperação no hemisfério sul”, afirmou Pamela Cox, vice-presidente para a América Latina e o Caribe do BM.

Recentemente, o presidente do Banco Mundial, Robert Zoellick, assinalou que o Brasil e outras economias emergentes deveriam fazer parte de um conjunto de países para a solução de problemas como o da crise financeira, junto ao Grupo dos Sete (G7, os países mais industrializados do mundo). (Invertia)

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PUBLISHED BY ‘DIÁRIO DO PARÁ’

Posted in BRASIL, WORLD BANK | Leave a Comment »

BCE SINALIZA QUE DEVE REDUZIR OS JUROS EM 6 DE NOVEMBRO

Posted by Gilmour Poincaree on October 27, 2008



Segunda-Feira, 27/10/2008, 12:04h

MADRI – O presidente do Banco Central Europeu (BCE), Jean-Claude Trichet, disse hoje que é possível que a autoridade monetária reduza a taxa básica de juros da zona do euro em sua próxima reunião de política monetária, marcada para 6 de novembro. “Eu considero que é possível que o comitê de política monetária diminua a taxa de juros novamente em nossa próxima reunião”, disse Trichet em conferência em Madri.

Ele afirmou que a decisão vai depender da continuação do “alívio dos riscos de alta para a estabilidade de preços no médio prazo, e da confirmação de uma ancoragem mais sólida para as expectativas de inflação”. A última vez que o BCE reduziu os juros foi em 8 de outubro deste ano, em ação coordenada com o banco central americano (Federal Reserve), o Banco da Inglaterra (BoE), banco central da Suíça, da Suécia e do Canadá. A taxa de juros na zona do euro (15 países da Europa que compartilham o euro) foi cortada em 0,5 ponto porcentual na ocasião, para o atual nível de 3,75% ao ano. As informações são da Dow Jones. (Agência Estado)

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PUBLISHED BY ‘DIÁRIO DO PARÁ’

Posted in CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, EUROPE, EUROPEAN CENTRAL BANK, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, THE FLOW OF INVESTMENTS | Leave a Comment »

BC ALTERA NOVAMENTE COMPULSÓRIO E LIBERA MAIS R$ 6 BILHÕES PARA ECONOMIA

Posted by Gilmour Poincaree on October 27, 2008



Segunda-Feira, 27/10/2008, 11:00h

O Banco Central informou nesta segunda-feira (27) que alterou novamente as regras do depósito compulsório, que são os recursos que têm de ser mantidos na autoridade monetária, para irrigar o mercado e permitir que as instituições financeiras tenham mais recursos para emprestar a seus clientes, ou entre elas.

Em reunião de diretoria realizada na última sexta-feira (24), o Banco Central decidiu que os bancos poderão antecipar o pagamento, em até 60 vezes, o valor da contribuição ao Fundo Garantidor de Crédito (FGC) do mês de agosto e, também, poderão abater esse valor dos depósitos compulsórios à vista – cuja alíquota é de 42%.

Com isso, poderá haver a injeção de até R$ 6 bilhões no mercado financeiro. O Banco Central informou que essa liberação de recursos para o mercado financeiro acontecerá à medida em que a antecipação for, e se, for feita pelos bancos.

Desde o agravamento da crise externa, em meados de setembro com o anúncio da concordata do banco norte-americano Lehman Brothers, o Banco Central já efetuou uma série de alterações das regras dos depósitos compulsórios e liberou mais de R$ 80 bilhões para o sistema financeiro.

Fundo Garantidor de Crédito – O FGC é um tipo de proteção para os investidores e aplicadores, uma vez que assegura aplicações de até R$ 60 mil. São objeto da garantia proporcionada pelo FGC os seguintes créditos: depósitos à vista ou sacáveis mediante aviso prévio; depósitos em contas correntes de depósito para investimento; depósitos de poupança; depósitos a prazo, com ou sem emissão de certificado; depósitos mantidos em contas não movimentáveis por cheques destinadas ao registro e controle do fluxo de recursos referentes à prestação de serviços de pagamento de salários, vencimentos, aposentadorias, pensões e similares; letras de câmbio; letras hipotecárias; letras imobiliárias e letras de crédito imobiliário. (G1)

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PUBLISHED BY ‘DIÁRIO DO PARÁ’

Posted in BANCO CENTRAL - BRASIL, BRASIL, ECONOMIA - BRASIL, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FLUXO DE CAPITAIS, O PODER EXECUTIVO FEDERAL, O SISTEMA BANCÁRIO - BRASIL, ORÇAMENTO NACIONAL - BRASIL, SETOR EXPORTADOR | Leave a Comment »

SÃO ROQUE VAI IMPULSIONAR PRODUÇÃO DE UVA E DE VINHO DE QUALIDADE

Posted by Gilmour Poincaree on October 27, 2008


27 de Outubro de 2008

A instalação da Câmara Setorial da Uva e do Vinho, no município de São Roque, nesta semana, com a CLÁUDIO GÓES - VINÍCOLA GÓESindicação de seu presidente, Cláudio Góes, marcou novo impulso à produção local de uva e vinho de qualidade, inclusive com a apresentação dos principais planos para atuação da Câmara no fomento à cadeia vitivinícola no Estado de São Paulo. Esta é a vigésima-oitava câmara em funcionamento no âmbito da Secretaria Estadual de Agricultura e Abastecimento. O objetivo é agregar e ajudar no fortalecimento das diversas cadeias produtivas.

O Governo do Estado tem realizado ações direcionadas à valorização das vocações regionais agrícolas e agroindustriais. Essa câmara reforça o projeto de desenvolvimento da cadeia vitivinícola paulista, fortalecendo a tradição de produção dos municípios de São Roque, Jundiaí, São Miguel Arcanjo e Jarinu. Ele vai ao encontro do que já tem sido trabalhado pelo grupo do Instituto Paulista de Vitivinicultura – SPVinho, parceiro da Pasta.

Durante o evento, a pesquisadora Adriana Verdi, do Instituto de Economia Agrícola (IEA), órgão da Secretaria de Agricultura, falou também sobre o trabalho desenvolvido como diagnóstico do desempenho dos municípios produtores, caracterização dos vinhos da região segundo os parâmetros estabelecidos pela legislação, capacitação de vitivinicultores para compreensão da variabilidade de microorganismos existentes na uva, no mosto e no vinho e implantação das duas coleções de germoplasma no Instituto Agronômico (IAC/SAA), sendo uma de uvas para vinhos e derivados e outra para porta-enxertos.

REVITALIZAÇÃO DA CADEIA – A instalação da nova câmara é fruto de uma intensa aproximação da Secretaria da Agricultura com os municípios produtores de uva e vinho desta região do Estado. Uma das ações que tem permitido um maior conhecimento da realidade da cadeia é, aliás, a realização do estudo “Revitalização da Cadeia Vitivinícola Paulista: Sustentabilidade, Governança e Competitividade”, encabeçado pelo IEA, mas que envolve pesquisadores de todo o corpo da Secretaria.

Atualmente na segunda fase, ele pretende colocar São Paulo entre os maiores centros produtores de uvas e vinhos de qualidade, aumentando a produção de ambos e, conseqüentemente, gerando emprego, renda e fixação de famílias nos espaços rurais e periurbanos. Financiado pela Fundação de Amparo à Pesquisa do Estado (Fapesp), foi uma iniciativa da Prefeitura de São Roque, em parceria com o Sindicato da Indústria do Vinho do Município, Secretaria de Agricultura do Estado e Federação das Indústrias do Estado de São Paulo (Fiesp). A principal característica do projeto, desde o início, tem sido envolver os diversos agentes da cadeia produtiva em busca de estratégias coletivas. Os planos são de que os resultados norteiem futuros encaminhamentos de políticas públicas para o setor, com a aplicação pelas prefeituras parceiras.

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Posted in AGRICULTURA, AGRONEGÓCIOS, BRASIL, CIDADES, ECONOMIA - BRASIL, EXPANSÃO AGRÍCOLA, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, INDÚSTRIAS, MINISTÉRIO DA AGRICULTURA, PECUÁRIA E ABASTECIMENTO, O PODER EXECUTIVO ESTADUAL, O PODER EXECUTIVO MUNICIPAL, ORÇAMENTO ESTADUAL, ORÇAMENTO MUNICIPAL, OS GOVERNADORES, OS PREFEITOS, POLÍTICA REGIONAL, SP | Leave a Comment »

“PAREMOS DE FAZER PIADAS A RESPEITO” AFIRMA HENRIQUE MEIRELLES SOBRE CRISE

Posted by Gilmour Poincaree on October 27, 2008


24/10/2008

“Paremos de fazer piadas a respeito. É uma situação muito, muito séria.” A declaração do presidente HENRIQUE MEIRELLESdo Banco Central, Henrique Meirelles, foi feita sexta-feira durante uma palestra a investidores em Miami, quando disse não haver dúvidas sobre a existência de uma crise econômica global.

Ao falar sobre a crise, Meirelles citava a preocupação com a turbulência americana, que está “afetando a todos”, e continuava a defender que o Brasil está em uma situação favorável no contexto global e tem tido um papel de “estabilizador”, junto com outros países emergentes.

O banqueiro, entretanto, acredita que, diferentemente de outras épocas, o Brasil atualmente está em melhor condição para encarar o problema, em virtude da estabilização nos últimos anos.

Meirelles defendeu a venda de dólares como uma forma “saudável” para prover liquidez da moeda, contudo não falou sobre preocupação com o câmbio.

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Posted in BANCO CENTRAL - BRASIL, BRASIL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, INTERNATIONAL, O MERCADO FINANCEIRO, O PODER EXECUTIVO FEDERAL, O SISTEMA BANCÁRIO - BRASIL, ORÇAMENTO NACIONAL - BRASIL | Leave a Comment »

CRISE FINANCEIRA MUNDIAL ‘ESFRIA’ A FEBRE DA CASA PRÓPRIA NO BRASIL

Posted by Gilmour Poincaree on October 27, 2008


Sábado, 25 de Outubro de 2008 – 10h19

Ainda não é o fim da festa, mas os brigadeiros em cima da mesa podem estar escasseando. Em 2007, o financiamento imobiliário com recursos da poupança cresceu quase 100% frente ao ano anterior, levando o setor à sua maior expansão em décadas. Agora, a crise financeira mundial ameaça transformar esses bons ventos em brisa.

O responsável pela piora no cenário é o aperto no crédito que o país tem começado a sentir: com o dinheiro em falta lá fora, os bancos tendem a proteger mais seus próprios recursos.

Nessa tendência, três grandes bancos brasileiros aumentaram no início do mês a taxa de juros para o financiamento da casa própria. O Bradesco mudou a taxa de 9% para 10,5% ao ano para imóveis até R$ 120 mil. O Itaú reajustou o teto dos juros cobrados para 12%. No Unibanco, a taxa passou de 11% para 12%.

“Isso é o teto. Se o banco fazia (o financiamento) a 9%, não quer dizer que vai fazer a 12%, mas que se sente livre para variar mais as taxas. Agora eles vão estudar muito bem quem são os tomadores de crédito e dar taxas melhores àqueles clientes em que têm mais confiança”, diz João Crestana, Secovi-SP, sindicato do setor imobiliário.

No bolso do consumidor

Para o consumidor, a mudança se traduz em mais gastos. Em um financiamento em 20 anos, o preço final do imóvel pode ficar até 29% mais caro, segundo um levantamento da Associação Nacional dos Executivos de Finanças (Anefac).

Segundo o autor do estudo, Miguel de Oliveira, antes da alta dos juros o consumidor pagava por um imóvel de R$ 120 mil, em média, 240 prestações de R$ 966,74, em um total de R$ 232.017,60. Agora, o valor final soma R$ 299.455,20.

“Com o aumento dos juros, você afeta a prestação. E a prestação aumentando, começa a criar problemas no bolso de uma fatia dos potenciais compradores. Em determinado segmento, pode até inviabilizar a compra”, avalia Luiz Paulo Pompéia, presidente da Empresa Brasileira de Estudos do Patrimônio (Embraesp).

Brasil X EUA

Embora seja reflexo da crise no exterior, a restrição do crédito no Brasil tem natureza diferente da que ocorre lá fora. Nos Estados Unidos e na Europa, os bancos vêm sofrendo prejuízos enormes, que têm origem no não pagamento de hipotecas imobiliárias. Sem recursos, o crédito some.

Já os bancos brasileiros estão em situação diferente: sem créditos podres em carteira, gozam de boa saúde financeira. Ocorre que muitos deles se financiam com recursos do exterior – e com o dinheiro lá fora escasso, evitam correr riscos, já que não teriam a quem recorrer em caso de problemas.

Efeitos para as construtoras

Essa restrição de crédito também afeta as construtoras. “Os bancos estão pedindo mais garantias e vão injetar menos dinheiro no setor. Alguns segmentos podem sentir, por não conseguirem produzir com um custo tão elevado. O reflexo é que alguns empreendedores vão reduzir seu ritmo de lançamentos. Não há uma suspensão, mas uma redução do ritmo alucinado de montagem de estandes de venda que era no passado”, diz Pompéia, da Embraesp.

“É a hora da seletividade. Em vez de fazer 20 empreendimentos, (a empresa) vai fazer 16, e quatro vai deixar na gaveta para 2010, 2011”, acrescenta Crestana, do Secovi.

As construtoras e incorporadoras também estão entre as que mais sofrem com o “tombo” das bolsas de valores nas últimas semanas. De olho nos problemas do setor, o governo federal autorizou, nesta semana, a Caixa Econômica Federal a comprar participação acionária em construtoras.

Segundo o ministro da Fazenda, Guido Mantega, o objetivo é evitar que haja uma interrupção dos projetos por falta de recursos. “É uma resposta para dar continuidade aos projetos de construção habitacional”, disse ele.

Cuidados na hora da compra

Para o consumidor, a recomendação dos especialistas é redobrar a prudência na hora da compra. Embora alguns bancos tenham elevado as taxas de juros, outros ainda mantêm a cobrança no mesmo patamar.

“Quem pretende financiar um imóvel pode procurar um dos bancos em que é cliente e negociar para manter a taxa. Para quem é bom cliente, o banco pode manter (a taxa antiga)”, diz Crestana. “Mas o comprador vai ser um pouco mais cauteloso agora, vai selecionar os melhores juros, não vai querer comprometer tanto da renda.”

“A recomendação é prudência, paciência e pechinchar muito. E, se puder esperar, para evitar riscos desnecessários. Eu acredito que em três ou quatro meses já vamos estar com uma situação mais estável, mais clara”, afirma Pompéia.

Para uma fatia dos compradores, no entanto, a recomendação do presidente da Embraesp é diferente: “Quem tem aqueles contratos já prontos, com a situação de antes da crise, é bom aproveitar. Porque dificilmente voltaremos a uma situação tão privilegiada quanto a de seis meses atrás.”

Do Portal G1

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Posted in BRASIL, ECONOMIA - BRASIL, EXPANSÃO ECONÔMICA, FINANCIAMENTO IMOBILIÁRIO, O MERCADO FINANCEIRO, O SISTEMA BANCÁRIO - BRASIL, ORÇAMENTO NACIONAL - BRASIL | Leave a Comment »

FILME QUE DISCUTE QUESTÕES INDÍGENAS ESTRÉIA EM DOURADOS (MS)

Posted by Gilmour Poincaree on October 27, 2008


Domingo, 26 de Outubro de 2008 15:23

por Jefferson da Luz

O filme Terra Vermelha (Birdwatchers) teve sua pré-estréia ontem em Dourados, município onde foi TERRA VERMELHAfilmado. O diretor Marcos Bechis, disse que a sociedade sul-mato-grossense é que tem de dar uma solução para os conflitos indígenas no Estado.

O filme retrata o drama dos conflitos pela posse de terras, na região sul do Estado, da perspectiva das populações indígenas de Dourados. E ainda mostra o estado degradante em que muitos índios vivem.

“Quem têm de encontrar uma solução são vocês, o filme tira debaixo do tapete e coloca sobre a mesa as questões a serem resolvidas”, destaca Bechis.

Terra Vermelha tem tido uma grande repercussão fora do país, já que a temática é de grande interesse da comunidade internacional.

O suicídio de duas meninas Guarani-Kaiowá desperta a comunidade para a necessidade de resgatar suas próprias origens, perdidas pela interferência do homem branco. Um dos motivos do desaparecimento gradual da cultura reside no conflito gerado pela disputa de terras entre a comunidade indígena e os fazendeiros da região. Para os Kaiowás, essas terras representam um verdadeiro patrimônio espiritual e a separação que sofreram desse espaço é a causa dos males que os rodeia. Uma disputa metafórica é criada. A compreensão e o diálogo buscam espaço nesse antigo conflito. Enquanto isso, o jovem Osvaldo, que vive um terrível embate contra o desejo de morrer, vai furtivamente buscar água no rio que corta a fazenda e conhece a filha do fazendeiro. Um encontro em que a força do desejo transpassa e ao mesmo tempo acentua o desentendimento entre as civilizações.

O filme estréia em todo Brasil no dia 28 de novembro.

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