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MITSUBISHI MAKES GABON OIL FIND – WEST AFRICA OILFIELD COULD DELIVER 14M BARRELS – JAPANESE TRADING HOUSE MITSUBISHI HAS DISCOVERED AN OIL FIELD IN GABON, RAISING HOPE FOR MORE ENERGY PRODUCTION FROM WEST AFRICA

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

Agence France-Presse

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AFRICA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, THE FLOW OF INVESTMENTS | Leave a Comment »

ECONOMISTA PREGA PROTECIONISMO PARA DESENVOLVIMENTO DE PAÍSES POBRES

Posted by Gilmour Poincaree on January 14, 2009

12 de Janeiro de 2009 – 23h53

Vinicius Konchinski – Repórter da Agência Brasil

PUBLISHED BY ‘AGÊNCIA BRASIL’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘AGÊNCIA BRASIL’

Posted in AFRICA, ASIA, BALANÇA COMERCIAL, BRASIL, CENTRAL AMERICA, COMÉRCIO - BRASIL, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, FOREIGN POLICIES, INDÚSTRIAS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, LATIN AMERICA, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH AMERICA, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

LIBYAN LEADER ARRIVES IN GUINEA FOR TALKS – MOAMER GATHAFI ARRIVES IN GUINEA FROM NEIGHBOURING SIERRA LEONE FOR TALKS WITH COUNTRY’S LEADERS

Posted by Gilmour Poincaree on January 4, 2009

2009-01-03

The Middle East Online

PUBLISHED BY ‘THE MIDDLE EAST ONLINE’

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PUBLISHED BY ‘THE MIDDLE EAST ONLINE’

Posted in AFRICA, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, GUINEA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, LYBIA, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

CITIBANK TO RAISE CAPITAL FOR SOUTH KOREA UNIT

Posted by Gilmour Poincaree on December 27, 2008

26 Dec 2008, 11:15 hrs IST

Reuters

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AFRICA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, RECESSION, SOUTH KOREA, THE FLOW OF INVESTMENTS | Leave a Comment »

BG EXEC LEAVES AFTER REVIEW OF SHARE DEALINGS – The head of BG Group’s Asian, African and Middle Eastern operations has left the company after an internal investigation found he committed “serious errors of judgment” in relation to his share dealings

Posted by Gilmour Poincaree on December 25, 2008

December 24, 2008

by Ross Kelly – Dow Jones

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AFRICA, ASIA, AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, MIDDLE EAST, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

AFRICA: FARMERS NEED A FINANCIAL UMBRELLA SAYS WORLD BANK

Posted by Gilmour Poincaree on December 19, 2008

Friday 19 December 2008

IRIN (humatarian and news analysis)

PUBLISHED BY ‘IRIN NEWS’

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PUBLISHED BY ‘IRIN NEWS’

Posted in AFRICA, AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, RECESSION, WORLD BANK | Leave a Comment »

DERIPASKA FEELS THE PINCH (Russia)

Posted by Gilmour Poincaree on December 17, 2008

Dec 16, 2008

by John Helmer

PUBLISHED BY ‘THE ASIA TIMES’ (Hong Kong – China)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ASIA TIMES’ (Hong Kong – China)

Posted in AFRICA, ALUMINUM, BANKING SYSTEMS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, RECESSION, RUSSIA, THE FLOW OF INVESTMENTS | Leave a Comment »

ETVIPR INDUSTRIES CLOSES ON AGREEMENT TO ACQUIRE UP TO 50% OWNERSHIP OF THE MWAMAGUNGULI DIAMOND MINE, LOCATED SOUTH OF THE WORLD FAMOUS WILLIAMSON DIAMOND MINE, TANZANIA

Posted by Gilmour Poincaree on December 16, 2008

Dec 15, 2008 08:01

by Sophie Goodchild – Health Editor

PUBLISHED BY ‘THE MARKET WIRE’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MARKET WIRE’

Posted in AFRICA, COMMODITIES MARKET, DIAMONDS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, RECESSION | Leave a Comment »

NOW IS THE TIME FOR POLITICS – MORE GOVERNMENT IS THE SOLUTION, NOT THE PROBLEM, AND KEY TO SOLVING WORLD POVERTY (Brasil)

Posted by Gilmour Poincaree on December 9, 2008

DECEMBER 2008 – FEBRUARY 2009

by Luis Inácio Lula da Silva

PUBLISHED BY ‘NEWSWEEK’ (USA) – SPECIAL EDITION – ISSUES 2009

The world today is experiencing turbulence unlike anything we’ve seen in decades. The U.S. credit crisis has contaminated the international economy, and financial systems have been shaken to the core, undermining economic doctrines once treated as absolute truths.

As I told the UN. General Assembly in September, now is the time for politics, for governments to use public control and oversight to halt the economic anarchy. I welcome the actions that other countries have taken. But it will be some time before their initiatives kick in. That means more steps are needed in the meantime to safeguard the world’s most vulnerable: workers whose jobs and purchasing power are on the line, simple folk trying to save for the future, the poor who depend on the state.

The abuses and errors coming to light daily are all evidence that our existing system of international economic governance has broken down. To develop a better one, the world’s major developing countries should be called on to join the debate. We have plenty to contribute. Take Brazil. We are ready to do our part, and our economy is better prepared than most to confront the crisis. We have said no to macroeconomic adventurism. Inflation is under control and we are growing steadily. We have plenty of foreign reserves and owe nothing to the International Monetary Fund. This gives us the tools and the peace of mind to withstand the turbulence the crisis will bring.

Brazil is also better prepared to deal with the social and economic dislocation that may ensue. Consider: since I took office in 2003, more than 10 million Brazilians have joined the workforce. Some 20 million have risen out of absolute poverty. Our internal market is expanding, giving us an important economic cushion. Above all, we are redistributing income and reducing social inequality. These advances have nothing to do with luck or a favorable environment. They are the result of hard work by the Brazilian people and their government.

Weaving a broad social safety net is a central part of this endeavor. Our income-transfer program now distributes benefits to 11 million poor families nationwide, on the condition that mothers get prenatal care and parents keep their children in school and vaccinated. Our success shows that individual governments can and must play a vital role in reducing poverty and inequality. And our example in health care and education is already being made available to other countries in Latin America, Africa and Asia facing similar challenges.

That said, no state will escape this crisis on its own. Coordinated actions are needed. Yet they will succeed only if international decision making is redesigned in accordance with new realities; the institutions set up after World War II reflect a balance of power that’s long been superseded. This challenge actually goes far beyond the immediate financial storm. Other threats loom, such as hunger and poverty, the rising price and scarcity of food, the energy crisis and climate change. World commerce remains distorted, and the best means of addressing that—die Doha round of trade talks — could collapse.

Still, none of these obstacles is insurmountable. We all know the solutions, and we have the tools and the resources to succeed. Too often what we lack is political will. Many people today are comparing our current situation with the Great Depression. But we should take those parallels further and should summon the spirit of solidarity that helped create the New Deal, harnessing it to forge a new global pact to roll back poverty and extreme inequality. Contrary to what so many believe, globalization has only increased the economic and social responsibilities of governments. We must renew our commitment to strong multilateralism and we must make that multilateralism more democratic, in order to build agreements that reflect the legitimate interests of all nations. This means, among other things, enlarging the U.N. Security Council and revamping the IMF to provide effective financial support to countries in need.

The United States-by virtue of its size and its economic prowess—is and will continue to be a key player in the global search for common solutions. Washington has played such a decisive role since the end of World War II. Given the challenges and opportunities facing us today, we in the developing world hope that we can once again count on the American people to come to the defense of multilateralism, equality and justice. This is not the time for protectionism, but for progressive action born of generosity and solidarity that will forge collective answers to 21st-century challenges.

Luis Inácio Lula Da Silva is the President of Brazil.

PUBLISHED BY ‘NEWSWEEK’ (USA)

Posted in 'DOHA TALKS', A PRESIDÊNCIA, AFRICA, ASIA, BANKING SYSTEM - USA, BANKING SYSTEMS, BRASIL, CENTRAL BANKS, CIDADANIA, COMBATE À DESIGUALDADE E À EXCLUSÃO - BRASIL, COMMERCE, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, FOREIGN POLICIES, FOREIGN POLICIES - USA, G20, HISTORY, HOUSING CRISIS - USA, IMF, INDÚSTRIA DA CONSTRUÇÃO CIVIL, INFRAESTRUTURA - BRASIL, INSTITUIÇÕES DE FOMENTO NACIONAL, INTERNATIONAL, INTERNATIONAL RELATIONS, LATIN AMERICA, LUIS INÁCIO LULA DA SILVA, MACROECONOMY, O MERCADO DE TRABALHO - BRASIL, O PODER EXECUTIVO FEDERAL, OS TRABALHADORES, POLÍTICA EXTERNA - BRASIL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RELAÇÕES DIPLOMÁTICAS - BRASIL, RELAÇÕES INTERNACIONAIS - BRASIL, SOUTH AMERICA, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

SHARING THE RESPONSABILITY

Posted by Gilmour Poincaree on December 7, 2008

DECEMBER 3-8, 2008

by Michael Levitin

PUBLISHED BY ‘NEWSWEEK’ – Print Edition – (USA)

He was Chief of Staff to Chancellor Gerhard Schröder, the leading voice behind 'A BIGGER BREAK' - Frank-Walter Steinmeier says the crisis forced the U.S. to leave behind its traditions - Photo by Hans-Christian Plambeck (Laif-Redux)Germany’s refusal to fight in Iraq. Now German Foreign Minister Frank-Walter Steinmeier is the Social Democratic Party candidate for chancellor in next year’s elections, running against the popular Christian Democrat incumbent, Angela Merkel. In his first major interview with the U.S. press, Steinmeier sat down with NEWSWEEK’s Michael Levitin to discuss German troop engagements in Afghanistan, Russia’s recent aggression, the global financial crisis and how Germany might work alongside the United States. Excerpts:

LEVITIN: The day after Barack Obama won the U.S. presidency, Russian President Dmitry Medvedev threatened to install missiles in Kaliningrad if Washington did not “rethink” its deployment of a NATO missile shield in Eastern Europe. Did Moscow’s latest show of aggression shift the dynamic between Russia and Europe? How should you respond- and what should Europe’s response be?

STEINMEIER: Medvedevs announcement the day after the elections was clearly the wrong signal at the wrong time. We have no illusions about Russia. In the last few years it has often proved itself a difficult partner. The question remains how to deal with this huge country in Europe’s immediate neighborhood; having to choose between containment versus engagement, I advocate the latter. We must try to develop relations with Russia that go beyond economic interests and contribute to increased stability and security. After all, it is in our own interest to make sure that a Russia that is looking for its own identity is politically and culturally anchored in die West.

LEVITIN: Do you see Germany as a middleman, acting as a buffer between Russia and the rest of Europe-perhaps at the moment even Russia’s closest EU ally?

STEINMEIER: Russia is aware of our uniquely close relationship with the United States. We are firmly embedded in NATO and the EU and thus we don’t aspire to play the role of a middleman. Together with our European partners we showed a strong and outspoken response to Russia’s role in the conflict in Georgia. I think Europe’s united voice no doubt contributed to the military conflict ending. Now the stabilization of the region as a whole has to continue, and for genuine stability we need Russian cooperation. As for energy links between the EU and Russia, the answer depends on which European country you talk to. But in general, Russia depends as much on Europe and America buying its goods as we rely on Russia supplying us with natural gas and oil. As far as Germany is concerned, it is little known in the United States that we have worked successfully for decades to diversify our suppliers of various forms of energy and fuels, with Russia but also Norway and Africa being important suppliers.

LEVITIN: You mentioned the conflict In Georgia. Should that country and Ukraine be Invited to Join NATO?

STEINMEIER: This is not a simple yes-or-no decision. With national elections looming, the domestic situation in Ukraine has changed, as has the situation in the Caucasus since the conflict broke out this summer. Yes, we remain committed to supporting and assisting these countries on the road ahead. But concerning the Membership Action Plan, Germany and other European governments continue to stand by their position.

LEVITIN: The most urgent U.S. foreign-policy question involving Germany, which Obama raised many times during his campaign, is Afghanistan and whether Germany will contribute more troops there to stabilize the south. How much is your country willing to sacrifice for this partnership, putting its soldiers into harm’s way?

STEINMEIER: I have spoken to Barack Obama twice, and from these exchanges I know that he sees Afghanistan in a very nuanced way. I feel we see eye to eye in our assessment that we’re facing a very difficult security situation, but that military means alone cannot bring about the necessary changes. Our approach has to be a comprehensive one, and contrary to what some people may say, Germany has played its part.

LEVITIN: In the north, certainly. But It’s in the south where the greatest violence has taken place, and where Obama’s asking for greater German participation.

STEINMEIER: We have shouldered our share of the military responsibility and we have also enlarged our engagement. We are about to increase our troops by 30 percent, to 4,500. We are participating in aerial surveillance across the whole of Afghanistan, including the south, and German radio engineers are also stationed in Kandahar. The German Air Force runs flights for all NATO countries throughout Afghanistan, again including the south. We took over the lead of the Quick Reaction Force in the north. And let us not forget that circumstances there have also changed; the north, too, has seen its share of armed opposition activities increasing in the last month. But our engagement in Afghanistan is about much more than military action. We have always said that we will only be successful if we succeed in helping rebuild the country and its economy. Civil reconstruction is the second important pillar of our engagement on the ground, and we’ll continue to increase our contribution in this area next year.

LEVITIN: Given the turmoil in Pakistan, what do you think the next steps forward ought to be?

STEINMEIER: The security of the whole region strongly depends on Pakistan. If we want to combat terrorism in Afghanistan, we have to succeed in stabilizing Pakistan politically and economically. This calls for a strengthened Pakistani commitment to combat terrorism, but it also calls for international assistance for this country. It needs a substantial loan from the IMF. We also need to be ready to help stabilize the country in a lasting way.

LEVITIN: On Iran, what realistic hopes do you see of bringing Mahmoud Ahmadinejad to the table and persuading him to give up Tehran’s nuclear ambitions? And how far will you be willing to push?

STEINMEIER: No doubt there is hope in the international community that after 29 years of standstill, a new approach may be possible. We all remember the reasons for the break-off of relations between the U.S. and Iran. Since then, U.S.-Iranian relations have also been a story of missed opportunities: when Washington signaled openness, Tehran wasn’t willing or able to respond in kind, and vice versa. I think it would be worthwhile trying to have direct talks, but the Iranians have to know it is up to them to prove they do not aspire to nuclear weapons-and that they’re willing to play a constructive role in the region. I have to admit I am skeptical, and can only express my hope that the leaders in Iran seize this opportunity.

LEVITIN: Turning to the financial crisis, the banks got a bailout. Now the automobile manufacturers are seeking the same thing. How do you see EU countries regaining their competition policy-and their legitimacy-after this?

STEINMEIER: I believe the politicians would have lost their legitimacy if they hadn’t acted. What we’re facing here is the very visible failure of the market. We had to make sure that the crisis in the financial markets does not lead to a total breakdown of the financial system as a whole. On both sides of the Atlantic, unconventional means were applied to manage the crisis. Honestly speaking, many of the measures taken in the U.S. seemed a bigger break with American tradition than can be said about European measures.

LEVITIN: How important is it that developing countries play a greater decision-making role In the future? For example, we saw hints of the G8 expanding into a G20 several weeks ago in Washington.

STEINMEIER: What is the most fundamental challenge the world is facing today? To my mind, it consists of integrating the emerging powers of the 21st century into a system of shared global responsibility. I am talk ing about countries like China and India, but also Muslim states such as Saudi Arabia. Can any of the global challenges we face be tackled without them? I don’t think so. That is why we have to make them stakeholders, and in that respect the recent financial summit in Washington was historic. To me it is obvious we cannot stop there.

PUBLISHED BY ‘NEWSWEEK’ (USA)

Posted in 'DOHA TALKS', AFGHANISTAN, AFRICA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CHINA, COMMERCE, COMMODITIES MARKET, DEFENCE TREATIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN POLICIES - USA, G20, G8, GEORGIA, GERMANY, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, ISLAM, MILITARY CONTRACTS, NATO, NATURAL GAS, NORWAY, PAKISTAN, PETROL, RECESSION, RUSSIA, SAUDI ARABIA, THE ARMS INDUSTRY, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, THE UNITED NATIONS, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | 1 Comment »

ECOBANK NAMED BEST BANK IN 10 AFRICAN COUNTRIES – ECOBANK HAS DOMINATED THE EIGHTH BANKER AWARDS IN LONDON

Posted by Gilmour Poincaree on December 5, 2008

Posted: Mon, Dec 01, 2008

Written by Claire Wanja – Release

PUBLISHED BY ‘KENYA BROACASTING CORPORATION’

Ecobank drew thunderous applause as it was called up to receive one award after another throughout the night.

The event took place in the Grand Ballroom of London’s Dorchester Hotel and brought together representatives of banks and leading financial institutions from over 130 countries.

The pan-African bank won a total of ten country awards, more than any other bank among the many that gathered for what is considered to be one of the most prestigious events within the global banking industry.

The Banker Magazine is a publication of the Financial Times of London.

Ecobank won the awards in recognition for their banking services in the following countries: Benin, Burkina Faso, Cameroon, Chad, Cote d’Ivoire, Liberia, Mali, Niger, Senegal and Togo. Representing the bank at the awards were Mrs. Morenike Adepoju, Managing Director of Ecobank Liberia, Mr. Roger Dah-Achinanon, Managing Director of Ecobank Togo and Mr. Richard Uku, Brand & Communication Director for the Ecobank Group.

“It is gratifying to be honored in such a resounding way.” Uku said. “These 10 awards are a testament to the passion of all Ecobankers in the 25 countries in Africa where we currently operate. They underscore our dedication to keep providing world class banking services to the millions who have made Ecobank their bank of choice.”

The bank is currently undergoing a rebranding exercise and will roll out a new corporate logo and look in January 2009, reflecting renewed dynamism and continued commitment to Africa.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘KENYA BROACASTING CORPORATION’ (UK)

Posted in AFRICA, BANKING SYSTEMS, BURKINA FASO, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INTERNATIONAL, INTERNATIONAL RELATIONS, REGULATIONS AND BUSINESS TRANSPARENCY, SENEGAL, THE FLOW OF INVESTMENTS | Leave a Comment »

WISE UP OR LOSE OUT, GM TELLS PARTS SUPPLIERS (South Africa)

Posted by Gilmour Poincaree on December 4, 2008

PORT ELIZABETH Thursday December 4, 2008

by Bob Kernohan – BUSINESS EDITOR

PUBLISHED BY ‘THE HERALD ON LINE’ (South Africa)

SMALL vehicle component suppliers need to smarten up or face the possibility of closing because they increasingly risk being uncompetitive, a motor company executive cautioned in Mandela Bay this week.

General Motors SA global purchasing and supply chain vice-president Evan Dold was speaking about the need for the vehicle manufacturing industry at all levels to become totally world competitive.

He said the cost of components in a vehicle made up 75% to 85% of the total.

Dold said studies carried out by GMSA in the second quarter had shown that there was an ex-factory “cost gap” of about 30% between a sample of parts sourced locally and the same parts sourced from the most competitive cost location in the Latin America, Africa, Middle East region, under which GM‘s SA operations fall.

He said further: “When sourced from the lowest cost sources globally, such as from emerging markets like Thailand, the gap increased to about 40%.”

Dold suggested that domestic manufacturers could capitalise on the weakness of the rand and narrow the competitiveness gap by increasing domestic content, so also providing a stronger hedge against future currency weakness.

“Growing local content while volumes are down will be a challenge. But it is not all doom and gloom, and the weak rand will work in our favour.

“We should also use the downturn to eliminate unnecessary costs so that when the rand strengthens, we are more competitive and profitable.”

Domestic component production volumes also needed to increase.

“This is a particularly difficult challenge right now, but the industry has always been cyclical and at some stage the markets will start turning.

“Even with the downturn in volumes globally, the weak rand should assist some of our more competitive local suppliers to grow volumes through new export contracts.

“In some cases we can also grow volumes with our most competitive local suppliers by rationalising our supply base and re-sourcing business from less competitive suppliers.”

On increased volumes, Dold said: “Our studies have shown that a doubling of volumes will on average lower the piece part cost by some 10% to 20%, depending on actual volumes.”

Asked about the possible implications for small domestic suppliers of changes worldwide, Dold said it had to be realised that manufacturers were now “globally integrated”.

“For instance, when we are told of a price increase by a local supplier, that information goes into the pot and it is discussed in a global context.

“It has to be realised 85% of GM‘s global business is done with its top 350 suppliers.”

If GMSA‘s local suppliers provided the required quality, service and world-competitive costing, the company would continue to do business with them, Dold said. Otherwise, it could look to its worldwide supply base.

He urged smaller suppliers to take advantage of opportunities in areas like joint ventures with similar enterprises or “selling out” to multinational companies.

Dold pointed to some steel component manufacturers and the catalytic convertor industry as being success stories.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE HERALD ON LINE’ (South Africa)

Posted in AFRICA, AUTOMOTIVE INDUSTRY, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, LATIN AMERICA, METALS INDUSTRY, MIDDLE EAST, RECESSION, SOUTH AFRICA, THAILAND, THE WORK MARKET, THE WORKERS | Leave a Comment »

STORIA DELLE RIVOLUZIONI DEL XX SECOLO – LA RIVOLTA DEI MAU-MAU (Kenya)

Posted by Gilmour Poincaree on December 1, 2008

Romano Ledda – A cura di Roberto Bonchio

(1628, 1629)

Mentre l’Africa nera Nairobi. Ottobre 1952. Mau-mau arrestati dalla polizia inglese. I Mau-mau erano una setta segreta a sfondo nazionalistico-religioso costituitasi nel Kenya tra le populazioni Kikuyu, attorno al 1948; un campo di concentramento; un villagio, presunta centrale dei Mau-mau, dato alle fiamme dalle trupe inglesioccidentale ed equatoriale raggiunse l’indipendenza entro l’anno 1960, quella orientale, per lo piú a dominazione inglese, dovette attendere piú a lungo. Qui infatti ai consueti meccanismi di sfruttamento coloniale, si aggiungeva in generale la presenza di massicce immigrazioni bianche, che costituirono (e costituiscono ancora oggi nella Rhodesia dei sud e, sia puré con caratteristiche storiche diverse, nel Sud África) un forte ostacolo alia stessa política neocoloniale del’Inghilterra. Fu questa presenza di bianchi, che si era-no impadroniti delle terre migliori, ricacciando gli africani su quelle sterili, a provocare quella che forse è l’unica grande rivolta contadina del’Africa nera: la guerra che i Mau-mau condussero per tre anni contro il coloni bianchi dei Kenya.

La rivolta dei Mau-mau esplose con primitiva violenza nel 1952. Da trent’anni gli africani chiedevano terre migliori, la fine della discriminazione razziale, e il superamento di condizioni di vita che avevano dei bestiale. Come risposta ebbero un rigurgito di violenza e di crudeltà razziali. La rivolta partita dal gruppo étnico Kikuyu fu la legittima reazione al regime instaurato dai coloni. Essa colpi con durezza lê ricche fattorie degli « altipiani bianchi », rispose a colpo su colpo, porto dovunque il terrore, anche per quel suo carattere primitivo che circondava ogni azione di rappresaglia o di attacco contro i « signori bianchi », dei rituali magici delia tradizione tribale. Ma che non si trattasse di semplici bande criminali, come è stato troppo spesso detto, bensì di un movimento con profonde radici tra i contadini poveri dei Kenya, è dimostrato dal fatto che ci vollero ben tre anni per reprimere la rivolta. Fu una delle repressioni più brutali della storia coloniale. Si ripeterono qui le violenze, gli arbitri, le crudeltà dei francesi in Algeria. Jomo Kenyatta, presunto capo delia rivolta, venne arrestato confinato a tempo indefinito. Migliaia di kikuyu vennero massacrati, i villaggi incendiati, intere tribù ricacciate nelle foreste. Ma quando la rivolta fu alfine domata, il volto dei Kenya era ormai cambiato, e iniziò un processo « costituzionale » verso l’indipenza, ottenuta il 12 dicembre 1963. II partito di Kenyatta, il Kenya African National Union (KA-NU) assunse la direzione dei paese.

Prima dei Kenya, era divenuto indipendente, il 9 dicembre 1961, il Tanganika. E qui maturò uno dei regimi più avanzati dell’África nera, che ebbe ai suo centro il Tankanika African National Union (TANU), fondato nel 1954 da Julius Nyerere, attualmente presidente della Tanzania. Anche nel Tanganika il carattere nazionale, non tribale, dei partito fu determinante nell’orientare il paese verso programmi sociali ed economici, ispirati ad un nazionalismo progressista con elementi di socialismo. Un secondo elemento influi, però, in modo rilevante nella radicalizzazione degli orientamenti del TANU. Il 12 gennaio 1964 scoppiò una rivoluzione popolare nella vicina isola di Zanzibar. L’isola, che aveva ottenuto l’indipendenza nel dicembre 1963, era dominata dal sultano Ben Abdullah, sostenuto dagli inglesi, e rappresentante la minoranza araba delia popolazione. Il partito Umma, diretto da Mohammed Babu, a base prevalentemente contadina, si impadroni dei potere con una insurrezione armata, e il 18 gennaio proclamo la repubblica popolare di Zanzibar. Nell’aprile dello stesso anno, iniziarono le trattative tra il governo di Nyerere e quello di Zanzibar per la costituzione di un único Stato. In breve l’accordo fu raggiunto e il 25 aprile 1964 sorse la repubblica di Tanzania, con un orientamento político generale che si richiama esplicitamente al socialismo. L’accesso all’indipendenza dei possedimenti inglesi deli’África orientale si compì con una certa rapidità: il 9 ottobre 1962 divenne indipendente l’Uganda, il 6 luglio 1964 il Nyassaland, col nome di Malawi, il 24 ottobre 1964 la Rhodesia dei Nord, col nome di Zâmbia.

Posted in AFRICA, ENGLAND, FOREIGN POLICIES, FREEDOM OF SPEECH AND CONSCIENCE, HISTORY, HUMAN RIGHTS, INTERNATIONAL, INTERNATIONAL RELATIONS, KENYA, UNITED KINGDOM, WARS AND ARMED CONFLICTS | Leave a Comment »

REFLEXIONES DEL COMPAÑERO FIDEL – LA REUNIÓN DE WASHINGTON (Cuba)

Posted by Gilmour Poincaree on November 15, 2008

Sábado 15 Noviembre 2008

Fidel Castro Ruz

Noviembre 14 de 2008

5 y 35 p.m.

Algunos de los gobiernos que nos apoyan, a juzgar por declaraciones recientes, no dejan de incluir en FIDEL CASTRO BY PEPITO JUNIOR CARLOSlas mismas que lo hacen para facilitar la transición en Cuba. ¿Transición hacia dónde? Hacia el capitalismo, único sistema en el que religiosamente creen. Ni una sola palabra expresan para reconocer el mérito de un pueblo que, sometido a casi medio siglo de crueles sanciones económicas y agresiones, defendió una causa revolucionaria que, unida a su moral y patriotismo, le dio fuerzas para resistir.

También olvidan que, después de las vidas ofrendadas y tanto sacrificio defendiendo la soberanía y la justicia, no se le puede ofrecer a Cuba en la otra orilla el capitalismo.

Le hacen guiños a Estados Unidos, soñando que los ayudará a resolver sus propios problemas económicos inyectándoles sumas fabulosas de monedas de papel a sus tambaleantes economías, que sostienen el intercambio desigual y abusivo con los países emergentes.

Sólo de esta forma pueden garantizarse las ganancias multimillonarias de Wall Street y los bancos de Estados Unidos. Los recursos naturales no renovables del planeta y la ecología ni siquiera se mencionan. No se demanda el cese de la carrera armamentista y la prohibición del uso posible y probable de armas de exterminio masivo.

Ninguno de los que participarán en la reunión, convocada precipitadamente por el actual Presidente de Estados Unidos, ha dicho una palabra sobre la ausencia de más de 150 Estados con iguales o peores problemas, que no tendrán derecho a decir una palabra sobre el orden financiero internacional, como propuso el Presidente pro tempore de la Asamblea General de las Naciones Unidas, Miguel D’Escoto, entre ellos la mayor parte de los países de América Latina, el Caribe, África, Asia y Oceanía.

Mañana se inicia la reunión del G-20 en Washington. Bush está de plácemes. Proclama que de la reunión espera un nuevo orden financiero internacional. Las instituciones creadas por Bretton Woods deben ser más transparentes, responsables y efectivas. Es lo único que admitiría. Para señalar la prosperidad de Cuba en el pasado, habló de que una vez estuvo sembrada de campos de caña de azúcar. No dijo, por cierto, que se cortaba a mano y el imperio nos arrebató la cuota establecida durante más de medio siglo, cuando la palabra socialismo no se había pronunciado todavía en nuestro país, aunque sí las de ¡Patria o Muerte!

Muchos sueñan que, con un simple cambio de mando en la jefatura del imperio, este sería más tolerante y menos belicoso. El desprecio por su actual gobernante conduce a ilusiones del probable cambio del sistema.

No se conoce todavía el pensamiento más íntimo del ciudadano que tomará el timón sobre el tema. Sería sumamente ingenuo creer que las buenas intenciones de una persona inteligente podrían cambiar lo que siglos de intereses y egoísmo han creado. La historia humana demuestra otra cosa.

Observemos con atención lo que dice cada cual en esa importante reunión financiera. Las noticias lloverán. Estaremos todos un poco mejor informados.


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PUBLISHED BY ‘VICTORIA’ (Cuba)

Posted in AFRICA, ASIA, CENTRAL AMERICA, CUBA, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, G20, INTERNATIONAL, INTERNATIONAL RELATIONS, LATIN AMERICA, OCEANIA, THE FLOW OF INVESTMENTS | Leave a Comment »

ERNST JANOVSKY SEES LIGHT FOR AGRICULTURE ON LONG TERM

Posted by Gilmour Poincaree on November 15, 2008

Tuesday 28th of October 2008

NAMIBIA PLUS

The well known economist, Mr Ernst Janovsky was the guest speaker at the recent LPO congress and Ernst Janovskyspoke about the challenges of new economic realities for sustainable production. Mr Janovsky said that agriculture on long term will experience an approximate 3% cost curve per annum where the prices of farming requirements will increase faster than producer prices. The outlook for the 2008/2009 season is a cost curve of more than 30%. This means that producers will have to get 30% more productive and savings on overhead costs should be the first saving actions (improvement of production effectiveness / value adding) as no savings should be done on input costs (quality of product).

Mr Janovsky predicts that agriculture will enter a new phase which might get much bigger than colonialism and industrialism. The net effect thereof will be that production volumes will continue to increase and thus will improve the survival potential of agriculture in general. Global warming and the demand for food and energy will drive world agriculture commodity prices further over the medium term.

Due to the problems in the American financial mar-kets, the world economy decreased whilst the South African performance also weakened due to rising interest rates. In general pressure was put on agri-cultural commodity prices which was caused by a further decrease in consu-mers demand due to the delay in the economy. In order to make debt with bank accounts, producers need political stability / good fiscal policy where concessions are made with the aim to get investments. The importance of markets and market forces were emphasized and that nothing is bigger than market forces. Markets have tendencies to always correct themselves.

Summarising, Mr Janovsky expects that agriculture will be under pressure for the next few years due to high input costs. However, on the long term and with the food shortages world-wide, it seems to be the right time to invest in agriculture and more specifically in agriculture in Africa.

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Posted in AFRICA, AGRICULTURE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, INTERNATIONAL, MACROECONOMY, THE FLOW OF INVESTMENTS | Leave a Comment »

RIGHTS GROUP ASKS WHY EGYPT’S POLICE ARE GUNNING DOWN MIGRANTS

Posted by Gilmour Poincaree on November 15, 2008

Published: November 14, 2008

by Joseph Mayton (Middle East Times)

CAIRO – African migrants trying to sneak into Israel from Egypt along the lengthy Sinai border, often THE LUCKY ONES - Sudanese refugees walk to a garden in Jerusalem after illegally crossing the border from Egypt into Israel to seek shelter and safety. (UPI)with little more than the clothes on their backs, are being gunned down by Egyptian police carrying out a new “shoot-to-kill” deterrence policy, a human rights group says in a damning report that also claims Israel may be involved.

The Egyptian government has defended its use of force in the Sinai Peninsula as a critical part of a counter-terror strategy against smuggling.

But Human Rights Watch (HRW) said in its 90-page report titled, “Sinai Perils: Risks to Migrants, Refugees and Asylum Seekers in Egypt and Israel,” that the migrants who were killed on the 266-kilometer (130-mile) border posed no threat to the border guards who opened fire.

“The Egyptian government should send a clear message to stop shooting the defenseless, harmless and [non-threatening] people on the border,” HRW researcher Bill Van Esveld told journalists at Cairo’s Press Syndicate during the release of the report.

“[But] unfortunately, it does not seem that Egyptian officials here recognize the seriousness of the problem,” he said.

Israel has long told Cairo to do more to inhibit the movement of people across their border. But the rights organization was also critical of the Jewish state, saying that it should not immediately return to Egypt potential asylum-seekers where they could face deportation to nations with well-documented human rights violations.

“Despite the violations of refugee rights on the Egyptian side, Israel had returned many people back into the custody of the Egyptian border police,” Van Esveld said.

Some activists in Israel have started questioning their government’s policy of return, suggesting that as Jews themselves they should consider giving those who are seeking a reprieve from genocide the opportunity to remain.

“Both Egypt and Israel have responded to this cross-border flow with policies that violate fundamental rights,” said the report.

Many Africans in Cairo boast of friends who have succeeded in running the border gauntlet into Israel.

“I have a number of friends who told me of the joy they are having in Israel, where they work and have a life again,” said Somali refugee Ali, who did not want his surname to be published.

But that hope has been dashed for dozens of Africans who have been wounded and sometimes killed by bullets at the border.

One of the reasons Africans seek to go to Israel is to escape the poor conditions they are experiencing in Egypt. Ranging from unemployment, racism and lack of funds, the Africans are distraught and unable to find a niche where they are.

“Many Sudanese said that attitudes among ordinary Egyptians were racist and frequently spilled over into violence,” the report said.

“My choice was to stay in Cairo, go through Libya [to Europe] and maybe die at sea, or go to Israel and die by a bullet. I preferred to die by a bullet,” it quoted an asylum-seeker from Sudan’s Darfur region as saying.

Some 13,000 Africans have made it into the Jewish state since 2006, while 33 people have been killed since June 2007 and scores of others injured along the border, highlighting the ongoing struggle that rights groups have with Cairo and Israel.

Although the report does not go as far as to claim Israel demanded that Egypt begin the “shoot-to-kill” policy that is applied throughout the border area over the past year, HRW does allude to a meeting between Israeli Prime Minister Ehud Olmert and Egyptian President Hosni Mubarak in 2007.

At the meeting, the two leaders discussed new measures designed to deter refugees from seeking to enter Israel via Egypt.

“We are not saying that Israel ordered Egypt to kill people; there is no evidence of that,” explained Van Esveld, “but what we are saying is that it seems that Egypt has responded to Israeli pressures with this policy of lethal force.”

No matter what, the reality on the ground is that Africans continue to be gunned down by Egyptian border police, despite not posing a threat to the well-armed guards. The rights organization has called on both Israel and Egypt to investigate the deaths of Africans and they demand a change in policy that does not infringe upon the rights of migrants.

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PUBLISHED BY ‘MIDDLE EAST TIMES’ (Egypt)

Posted in AFRICA, EGYPT, HUMAN RIGHTS, INTERNATIONAL, INTERNATIONAL RELATIONS, ISRAEL, POLICE BRUTALITY, SUDAN, WARS AND ARMED CONFLICTS | Leave a Comment »

UMA SOLUÇÃO RÁPIDA PARA A CRISE NA REPÚBLICA DEMOCRÁTICA DO CONGO

Posted by Gilmour Poincaree on November 15, 2008

Sábado, 15 de Novembro de 2008

JORNAL DE ANGOLA – Ano 9 – Edição Online nº 4651

O conflito na República Democrática do Congo está no centro das atenções da comunidade A CRIMINOSA GUERRA CIVIL DO CONGOinternacional e diferentes fóruns têm discutido questões relativas às melhores vias para a solução dos problemas daquele país da África Central.

A situação no Congo Democrático é de tal gravidade que preocupa instituições africanas e de outros continentes, nomeadamente da União Europeia.

A comunidade internacional continua a protelar a tomada de acções firmes para acabar com os conflitos que assolam África. Angola sofreu na carne do seu povo os efeitos nefastos da ambiguidade de países e instituições que, em vez de agirem, fingiam que actuavam. Em vez de porem fim às aventuras criminosas de “rebeldes”, davam-lhes tempo para se armarem.

As guerras só atrasam o desenvolvimento económico e social dos povos e só causam desgraças, muitas vezes difíceis de reparar. Mas as instituições internacionais que têm a obrigação de acabar com elas, actuam como se desconhecessem esta realidade. Os países que têm influência no mundo e até desencadeiam guerras sem mandato da ONU, em África dão passos tímidos e refugiam-se na falácia do diálogo.

A guerra desencadeada por um exército ilegal na RDC já causou a fuga de milhares de pessoas dos seus locais de residência para outras paragens, nomeadamente para países vizinhos, na esperança de encontrarem condições de segurança.

Numa região onde a existência de refugiados ou deslocados já significa um terrível desastre humanitário, permitir que o general Nkunda agrave este quadro, é seguramente um crime sem perdão.

Quem assiste ao evoluir do exército ilegal no terreno, não pode, hipocritamente, fazer votos de que a agressão armada não evolua para cenários que resultem em graves violações dos direitos humanos. Nem pode manifestar preocupações pouco sinceras sobre a paralização da actividade económica nas áreas fustigadas pelo exército de Nkunda .

A experiência do passado em África, marcada por genocídios, aconselha a que os políticos do continente e as organizações internacionais, nomeadamente a ONU, se mobilizem de forma célere para a resolução do conflito na RDC. O general Nkunda só dá uma garantia: ele é capaz de transformar a agressão armada num genocídio.

As “forças de alerta” da SADC podem ser chamadas a intervir no conflito. A organização regional sabe que no Kivu-Norte é preciso acabar com a presença de um exército ilegal que põe em causa um Governo eleito. Angola foi o último país da região a sofrer uma agressão armada deste género. Todos os governos da SADC aprenderam a lição.

A partir de 2002, ano em que foi assinada a Paz de Luena, aventureiros como o general Nkunda já não têm espaço na África Austral. Os angolanos mostraram à África e ao mundo que se não tivessem contado com as suas próprias forças, ainda hoje estavam a dialogar com quem só tinha ouvidos para os beneneficiários directos do conflito armado que devastou o país, durante décadas.

A RDC está a ser vítima de uma agressão brutal de um exército ilegal. É preciso pôr fim à aventura, por muito que custe aos países que por trás da cortina manobram a soldadesca de Nkunda.

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PUBLISHED BY ‘JORNAL DE ANGOLA’

Posted in AFRICA, CIVIL WAR - CONGO, CONGO, HUMAN RIGHTS, INTERNATIONAL, WARS AND ARMED CONFLICTS | Leave a Comment »

MOZAMBIQUE: FRENCH INVESTMENTS SET TO GROW

Posted by Gilmour Poincaree on November 14, 2008

13 November 2008

Agência de Informação de Moçambique (Maputo)

The volume of French investment in Mozambique is set to grow significantly in the next few years, with the approval of new projects to be implemented in the country.

The outgoing French Ambassador to Mozambique, Thierry Viteau, who made the statement, was speaking to reporters shortly after meeting with Mozambican President Armando Guebuza on Wednesday to say farewell after completing his term of duty.

According to Viteau, French investments in Mozambique have reached 40 million Euros (48 million US dollars), but are set to grow, with the implementation of new projects, the nature of which he did not reveal.

“There are projects under discussion and we hope they will be carried out soon”, said Viteau, adding that the growth in the flow of French investments is in response to the request of Guebuza when he visited France in July 2006.

At that time, Guebuza asked French businesses to invest in Mozambique. This led to the visit by a French business delegation to the country in September 2007, to investigate for the business environment in Mozambique.

Viteau claimed that this visit had resulted in French investmen in mining and in sugar.

“Investment is rising, and with the new projects under discussion, the level will rise still further”, he said. “I cannot give you the sums involved, since this is a matter for the businesses, but obviously it’s going to grow

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PUBLISHED BY ‘ALL AFRICA.COM’

Posted in AFRICA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FRANCE, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, MOZAMBIQUE, SUGAR, THE FLOW OF INVESTMENTS | Leave a Comment »

QUALITY OF SERVICES REGULATION IN SA ‘HAS LARGELY SHIELDED THE COUNTRY FROM THE GLOBAL CREDIT CRUNCH’ (South Africa)

Posted by Gilmour Poincaree on November 13, 2008

Posted to the web on: 13 November 2008

Trade and Industry Editor

SA SHOULD not allow trade negotiations in services to undermine the country’s regulatory capacity but Deputy Trade and Industry Minister Rob Davies should insist on its right to regulate in the public interest, Deputy Trade and Industry Minister Rob Davies yesterday said.

The remarks appeared to be a veiled reference to the European Union’s (EU’s) demand for services liberalisation in negotiations on the economic partnership agreement (EPA). SA opted out of an interim EPA at the end of last year, in part because of an EU demand that services liberalisation form part of the agreement.

Davies yesterday said South African services industries had few interests in the EU, which meant the agreement would see SA making concessions without receiving much benefit in return.

Speaking at the opening of the annual conference on the Service Exporter Network conference, an initiative of the Geneva-based International Trade Centre, Davies said SA had largely been shielded from the global credit crunch exactly because of the “quality of domestic regulation” and measures such as the National Credit Act were now “the subject of considerable international interest”.

Services sectors account for 66% of global output, a third of global employment and almost 20% of global trade. In SA services’ contribution to the economy was even greater, with 72% of people employed in service-oriented sectors while these industries contribute almost 75% of the country’s gross domestic product.

Because of the huge contribution of services industries to the economy, the trade and industry department has started work on a comprehensive national services sector framework strategy document. Davies was coy on details, as the document was only in a first draft, but akin to the national industrial development policy framework, which has earmarked industrial sectors for development, the services strategy will earmark support measures to spur growth in services industries.

But he also called for a more ambitious approach among developing countries in multilateral trade negotiations.

The deputy minister said SA was interested in a multilateral services agreement in the World Trade Organisation (WTO) because it could hold tremendous potential for developing countries, particularly in south-south trade relationships. Two years ago SA tabled a services offer in the WTO and Davies said there was recognition among other countries that SA’s services sectors were relatively open. But while SA was in favour of increased trade in services, the deputy minister insisted that this needed to be underpinned by “the right to regulate in the public interest and the right to deliver public services”.

The global financial meltdown is, however, expected to also spill into other services industries and stymie trade in services, and Davies called for greater ambition in multilateral services negotiations, citing the example of India, which has started formulating its strategic interests in services export markets.

“While developing countries will of necessity need to continue to take a strong defensive stance, particularly in respect of the right to regulate in the public interest, it is also necessary that developing countries be much more active in identifying offensive interests in trade in services,” he said.

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PUBLISHED BY ‘BUSINESS DAY’ (South Africa)

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

GOVT. TO INCREASE AGRICULTURE BUDGET BY 8% (Kenya)

Posted by Gilmour Poincaree on November 12, 2008

Posted: Tue, Nov 11, 2008

Written by: PPS

President Mwai Kibaki has assured farmers that the Government will increase budgetary allocation to  President Mwai Kibaki flanked by Vice President Kalonzo Musyoka and Agriculture Minister Hon. William Ruto tour and exhibitions after he officially opened the National Agriculture Sector Second Biannual Conference at Safari Park hotel, Nairobi.the agricultural sector from the current 4.5 to 8 percent of the national budget.

Speaking when he officially opened the 2nd Biannual National Agriculture Sector Conference at Safari Park Hotel Tuesaday, President Kibaki reaffirmed his Government’s commitment to improving the agricultural sector for the benefit of the Kenyan farmer.

“We are ready to increase the funds allocated to the agricultural sector so as to improve the sector because farmers are paying slightly more tax than they used to,” President Kibaki said.

In this regard, the President challenged farmers to abandon outdated farming methods and adopt modern techniques that would guarantee them maximum returns for their hard labour.

The Head of State advised farmers to work closely with officials from the Ministry of Agriculture in order to transform the sector and make it more profitable.

On its part, President Kibaki said, the Government is implementing far reaching measures aimed at expanding and improving the agricultural sector.

He directed the Ministries of Agriculture and Finance to come up with interventions whose implementation will contribute towards increased productivity and reduction of high food prices.

Under the Vision 2030, President Kibaki said that the Government envisaged expansion of the existing cultivated land by over one million acres as well as establishing a manufacturing plant for fertilizers and agro-chemicals to boost agricultural productivity.

The President said, “In this regard, I am directing the Ministry of Agriculture and the Ministry of Finance to ensure that the necessary funds are made available.”

Noting that Kenya has the potential of becoming the regions grain-basket, President Kibaki expressed optimism that Kenyan farmers too were capable of doubling productivity so that the country could enjoy food security and have enough for export.

The Head of State called for urgent support to farmers to establish stable cooperatives that would enable them engage in agro-processing and value addition of their products which can significantly boost their income base.

“This is critical because with a contribution of 24 per cent to the Gross Domestic Product worth over 342 billion shillings per year, agriculture is the single most important sector to the growth of Kenya’s economy,” said the President.

President Kibaki pointed out that the Government’s efforts to revive agricultural institutions are reflected in the improved performance of individual sub-sectors and commodities thus tremendously increasing export earnings.

“For, example, export earnings from horticulture have increased from 37 billion in 2004 to 65 billion shillings in 2007. Realizing that this sub sector has greater potential and room for expansion, my Government is putting more efforts to further develop the small scale farmers to participate more actively in growing of horticultural crops,” noted the President.

With regard to the milk sub-sector, President Kibaki noted that milk production had increased from 2.8 billion litres in 2002 to 4.2 billion litres in 2007 while annual milk exports to the neighbouring region rose from 1 million litres to 22 million litres during the same period.

The Head of State hailed the revival of Kenya Meat Commission which is currently slaughtering 50 tons of beef for local consumption and exports 10 tonnes of beef to Dubai worth Shs 2.5 million.

Due to the enormous contribution of the livestock rearing to the socio-economic development of farmers, President Kibaki further directed that the sector be expanded by construction of satellite abattoirs in Isiolo, Moyale and Marsabit.

He said, “We must take these steps because my government recognizes the central role the livestock sub-sector plays in the socio-economic development of our people, especially those living in Arid and semi-arid areas.”

During the occasion the President expressed the Government’s commitment in reviving the extension services with the support of development partners, adding that the budget allocated to offer the services had been increased from 1.3 billion shillings in 2003 to over 5.4 billion shillings in the current financial year.

The President said, “We have also revived all the 27 Agricultural training centers and procured an additional 10 bulldozers and 125 tractors to revive the Agricultural Machinery Services. Farmers can now hire tractors for their farm operations at affordable cost.”

He further noted that the strengthening of the Agricultural Finance Corporation to provide affordable credit to farmers and the Kenya Seed Company to provide seeds at an affordable cost would improve tremendously agricultural productivity.

President Kibaki said, “While farmers need extension and research to improve agricultural productivity, affordable credit and inputs are also essential.”

The President further said that the African Development Bank and the International Fund for Agricultural Development would support the Government to invest about 4.3 billion shillings in the next five years to revamp small-scale irrigation projects.

The Head of State said, “I urge farmers to take advantage of this investment and grow high value crops such as flowers, Soya beans, French beans, fruits, herbs and spices for sale to the regional and international markets.”

The President added that the Government remained committed to harnessing Kenya’s irrigation potential to over dependence on rain-fed agriculture, saying that in the past four years major irrigation schemes have been revived.

“In addition, the Government with support from IFAD established eight small irrigation schemes covering a total of 980 acres. Plans are also underway to irrigate an additional 3,500 acres at the Mwea Irrigation Scheme at a cost of 8.3 billion shillings with support from the Government of Japan,” said the President.

President Kibaki, at the same, directed the Ministry of Water and Irrigation in collaboration with Ministries of Agriculture and Regional Authorities to invest more resources in areas suitable for irrigation.

The Head of State, however, expressed dissatisfaction over the slow pace in which some sectors of agriculture have lagged behind, citing the pyrethrum and cotton industries and directed the ministry concerned to expedite necessary reforms to enable farmers reap enough benefits.

He said, “I am however not satisfied with progress we have made in reforms in cotton and pyrethrum crops. Despite injecting some 250 million shillings annually, production of cotton has only increased from 45,000 to 53,000 bales in the last 3 years.”

With regard to the sugar sector, President Kibaki directed that the private sector be involved in sugar processing and marketing to achieve efficiency in industry particularly with the coming to end of the COMESA safeguards by 2012.

The Head of State also praised farmers for their hard work and appealed to them to protect the environment by increased planting of trees and practicing soil conservation.

Speaking during the occasion, Agriculture Minister William Ruto thanked President Kibaki for making deliberate efforts to improve the agricultural sector.

The Minister said the President’s personal intervention in the sector had recorded remarkable achievements, contributing 51 per cent of the country’s Gross Domestic Product (GDP).

Several senior Government officials including Vice-President Kalonzo Musyoka and Head of Public Service and Secretary to the Cabinet Amb. Francis Muthaura among others attended the occasion.

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AFRICAN MIGRANTS STORM BORDER OF SPANISH CITY – Police use tear gas to keep them from crossing into Melilla from Morrocco

Posted by Gilmour Poincaree on November 11, 2008

Updated 11:32 a.m. ET Nov. 10, 2008

Associated Press

MADRID, Spain – African migrants armed with sticks and rocks stormed the border of a Spanish enclave in North Africa on Monday but police using tear gas repelled them, the Spanish Interior Ministry said.

Border guards repelled two waves totaling about 200 Africans in the fifth and largest such attempt to reach the Spanish city of Melilla from Morocco in less than a month, said Gregorio Escobar, the ministry’s top representative in Melilla.

No migrant managed to cross into the Mediterranean city of some 70,000 people.

Moroccan authorities detained most of the 150 Africans who tried to rush a border crossing in a first attempt. Less than an hour later, a group of about 60 turned violent as they tried to force their way across and Spanish authorities used riot gear and tear gas to keep them out, Escobar said.

Police officers suffer minor injuries

Two Spanish police were slightly injured and six other officers were treated after inhaling tear gas, he said.

Thousands of African migrants seeking a better life in Europe try to enter Spain each year. Most try to reach the Canary Islands by boat and others try enter Melilla or Ceuta, another Spanish enclave on Morocco’s coast.

Police have prevented migrants from crossing into Melilla on all the previous attempts over the past weeks except on one occasion when 37 migrants got through. They were later detained on Spanish soil.

Each time, migrants tried to get through a section of border fence damaged in torrential rains in late October. On Monday, however, they targeted a regular border crossing used daily by thousands of people.

Migrants wait on Moroccan side

The migrants often spend weeks or months living in a forest on the Moroccan side of the frontier as they await a chance to cross into Melilla.

The rains in October washed away most of their belongings and made living conditions even worse, said Khalil Jemmah, the head of Morocco’s Association of Victims of Illegalized Migration.

“They’re desperately trying to cross because they’ve got nothing left to lose,” Jemmah told the Associated Press late Saturday after a group of 50 sub-Saharan migrants fought with Moroccan police protecting the breached fence.

Copyright 2008 The Associated Press. All rights reserved.

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SOUTH AFRICAN SINGER MIRIAM MAKEBA DIES IN ITALY

Posted by Gilmour Poincaree on November 10, 2008

November 10th, 2008

by Celean Jacobson – Associated Press Writer – 1 hr 19 mins ago

JOHANNESBURG, South Africa – Miriam Makeba, the South African singer who wooed the world with her AP – In a Nov. 16, 2006, file photo South African singer Miriam Makeba performs on stage at the Avo Session sultry voice but was banned from her own country for 30 years under apartheid, died early Monday after a concert in Italy. She was 76.

The Pineta Grande Clinic, a private clinic near the southern city of Naples, said the singer died after being brought there. The ANSA news agency reported that Makeba apparently suffered a heart attack after performing for 30 minutes at a concert against organized crime.

The death of “Mama Afrika,” as she was known, plunged South Africa into shock and mourning.

“One of the greatest songstresses of our time has ceased to sing,” Foreign Affairs minister Nkosazana Dlamini Zuma said in a statement.

“Throughout her life, Mama Makeba communicated a positive message to the world about the struggle of the people of South Africa and the certainty of victory over the dark forces of apartheid and colonialism through the art of song.”

Makeba wrote in her 1987 memoirs that friends and relatives who first encouraged her to perform compared her voice to that of a nightingale. With her distinctive style combining jazz with folk with South African township rhythms, she was often called “The Empress of African Song.”

She first started singing in Sophiatown, a cosmopolitan neighborhood of Johannesburg that was a cultural hotspot in the 1950s before its black residents were forcibly removed by the apartheid government.

She then teamed up with South African jazz trumpeter Hugh Masekela — later her first husband — and her rise to international prominence started when she starred in the anti-apartheid documentary “Come Back, Africa” in 1959.

When she tried to fly home for her mother’s funeral the following year, she discovered her passport had been revoked. It was 30 years before she was allowed to return.

In 1963, Makeba appeared before the U.N. Special Committee on Apartheid to call for an international boycott of South Africa. The South African government responded by banning her records, including hits like “Pata Pata,” “The Click Song” (“Qongqothwane” in Xhosa), and “Malaika.”

Makeba received the Grammy Award for Best Folk Recording in 1966 together with Harry Belafonte for “An Evening With Belafonte/Makeba.” The album dealt with the political plight of black South Africans under apartheid.

Thanks to her close relationship with Belafonte, she received star status in the United States and performed for President John F. Kennedy at his birthday party in 1962. But she fell briefly out of favor when she married black power activist Stokely Carmichael and moved to Guinea in the late 1960s.

After three decades abroad, Makeba was invited back to South Africa by anti-apartheid icon Nelson Mandela shortly after his release from prison in 1990 as white racist rule crumbled.

“It was like a revival,” she said about going home. “My music having been banned for so long, that people still felt the same way about me was too much for me. I just went home and I cried.”

She insisted that her songs were not deliberately political.

“I’m not a political singer,” she insisted in an interview with Britain’s Guardian newspaper earlier this year. “I don’t know what the word means. People think I consciously decided to tell the world what was happening in South Africa. No! I was singing about my life, and in South Africa we always sang about what was happening to us — especially the things that hurt us.”

Makeba announced her retirement three years ago, but despite a series of farewell concerts she never stopped performing. When she turned 75 last year, she said she would sing for as long as possible.

Graham Gilfillan, Makeba’s longtime business manager, said the family was holding a meeting in South Africa and would release a statement later Monday.

Arts and Culture Ministry spokesman Sandile Memela described Makeba as an international icon.

“It’s a monumental loss not only to South African society in general but for humanity,” he said.

Tributes poured in on morning radio talk shows, with many callers in tears as they recalled her humor and her unrelenting spirit.

“She had been part of my life for a long time. It is a great loss,” singer P.J. Powers told local radio station 702. “She had a huge soul.”

Associated Press Writer Frances D’Emilio in Rome contributed to this report.

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WORKER TRUSTS TAKE CONTROL OF FRUIT EXPORTER (South Africa)

Posted by Gilmour Poincaree on November 3, 2008

Posted to the web on: 03 November 2008

by Chris van Gass

Cape Correspondent

CAPE TOWN — Nearly 200 workers and packers of a prominent apple and pear producer in the fertile Kashmiri Farmers pack Pear fruit in srinagar 01 August 2008Elgin Valley have taken a controlling interest in two farms in a R29m deal representing one of the largest land reform and agricultural black economic empowerment (BEE) projects in the Overberg region.

The project will see three worker trusts take a 52% share in the Vintage Group, a grower, packer and exporter of quality deciduous fruits, mainly apples, pears and grapes, which operates on the farms Arieskraal and Vyebosch.

The BEE partnership provided R8,5m to procure its interest with funding obtained through the land affairs department’s land redistribution for agricultural development programme and bank financing.

The project, which was conceptualised more than three years ago but began operations in earnest 18 months ago, had already realised its first dividend of R1,5m, which was “happy news” for the new shareholders, said farm manager and shareholder Peter Januarie.

Western Cape MEC for agriculture Cobus Dowry said on Friday the project was an example of how commercial farmers like Vintage CEO Barbara van den Bossche and MD Charl van den Berg could contribute to the government’s land reform programme. He said the extension of ownership was one way of combating poverty and eradicating the inequalities of the past.

Dowry said his department believed strongly in training, which the new partners of the farm would be able to tap into, and had budgeted more than R30m for structured agricultural training in the province to improve the living standards of farm workers.

Arieskraal and Vyebosch comprise nearly 300ha with 175ha planted under fruit trees. The Vintage group recently bought two additional farms, Kentucky and Twaalffontein, which has significantly extended its fruit farming operations to service its growing international customer base.

Januarie said Arieskraal produced 1500 tons of pears and 7500 tons of apples a year, with a turnover of R22m. The company exports to regions including Europe, the Middle East, Near East and Africa.

Januarie said he had been working on the farm for more than 30 years and, like all the new shareholders, he was excited about future prospects.

Van den Bossche, whose family started Vintage when they arrived from Belgium in SA in 1995, initially on holiday, said the partnership with Van den Berg had resulted in the establishment of a very competitive export business which already benefited a large community.

She said the group believed that the people who worked on the farms needed to be part of the land transformation process and Arieskraal was the first such initiative to accomplish this .

Van den Berg said the group had a clear vision on what was needed to keep farming profitable in the future, in view of a dramatic rise in input costs and especially the prices of fuel and fertiliser.

He said the group understood SA’s past and also the social responsibility it had as owners.

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CRISE MANTERÁ PETRÓLEO EM BAIXA, DIZ PRESIDENTE DA OPEP – Previsão de Chakib Khelil leva em conta abalo nos mercados e baixa do dólar frente a outras moedas

Posted by Gilmour Poincaree on November 2, 2008

02/11/2008 | 16h41min

O ministro da Energia argelino e presidente em exercício da Organização dos Países Exportadores de Chakib Khelil - Algerian Energy and Mines Minister, gestures during a press conference at the governmental newspaper El-Moudjahid's press center in the center of Algiers 20/10/2007. Khelil, who is the vice president of the Organization of Petroleum Exporting Countries (OPEC), said, then, that petrol prices would stay high until the second trimester of 2008Petróleo (Opep), Chakib Khelil, disse neste domingo que os preços da commodity podem continuar sua tendência de baixa caso persista a crise financeira e o dólar não se recupere frente a outras divisas.

— Tudo depende da situação econômica mundial. Caso continue se deteriorando fica claro que a demanda de petróleo percebida pelo mercado diminuirá, o que manterá a tendência de baixa — disse Khelil a uma rádio argelina.

No entanto, o ministro não descartou que o preço do petróleo, estabelecido em dólares, possa voltar a subir “se a moeda americana se debilitar em relação a outras”.

— É o impacto de todos estes elementos o que vai decidir o preço do petróleo a curto prazo — assinalou.

Em todo caso, o presidente da Opep previu que os preços se recuperarão em dois ou três anos, “já que há um desinvestimento e muitos projetos (no setor petrolífero) foram suspensos”.

Segundo ele, a decisão da Opep adotada na última reunião de Viena de cortar a produção “vai precisar de muito tempo para ter seus efeitos” sobre o preço do petróleo, já que o mercado não integrou ainda a redução da oferta.

Khelil explicou que vários países, entre eles Argélia, Emirados Árabes, Irã e Nigéria, anunciaram já o corte de sua produção e que se espera que os demais membros da Opep informem a seus clientes “para avaliar o impacto no mercado da decisão adotada em Viena”.

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ÁFRICA, O DESTINO DAS FLORESTAS PLANTADAS – (Brasil)

Posted by Gilmour Poincaree on November 2, 2008

31 de Outubro de 2008 – 00:00

Norberto Staviski por Norberto Staviski

Correspondente da Gazeta Mercantil em Curitiba

O Brasil, quem diria, pode não ser mais, em futuro próximo, o destino de grandes empreendimentos na área de papel e celulose ou de produção de chapas de madeira. Em curso, há investimentos de cerca de US$ 20 bilhões no setor industrial e de florestas plantadas, mas eles estarão consolidados em 2015. Depois disso, investidores nacionais e estrangeiros já estão de olho no potencial do continente africano. Em dez anos ou pouco mais, calculam os especialistas, os investimentos deverão desembarcar preferencialmente em Moçambique, Angola ou no Congo.

Tudo isso tem uma explicação bastante simples: um projeto de produção de papel ou celulose na faixa de 1,5 milhão de toneladas anuais, como os da Suzano e da Aracruz, necessita de uma área de florestas plantadas de 200 mil hectares e como quase sempre as empresas já pensam o projeto com duas linhas de produção, na verdade o planejamento pede 400 mil hectares de reflorestamentos. Em algumas regiões do País como a amazônica, uma área destas deve ser acrescida de mais 100 mil hectares a título de reserva legal, um tipo de área de conservação que nasceu com o intuito de se permitir a exploração de espécimes nativas, mas que, com a proibição efetiva do manejo, acabou virando área de preservação permanente e intocável. No Sul a situação é ainda mais complicada porque as exigências de áreas de reserva legal são ainda maiores.

A este custo adicional da reserva legal foi acrescida a valorização das terras nos últimos anos pelo boom da agricultura e da pecuária. Há cinco anos, o preço de 1 hectare de terra no Mato Grosso do Sul estava em R$ 1 mil e agora está em R$ 5 mil. No Sul, 1 hectare custa R$ 10 mil. Construir uma nova fábrica pode custar, portanto, um investimento superior a R$ 2,5 bilhões só em terras, o que torna qualquer novo projeto inviável.

Estados onde a terra está mais barata – R$ 500 a R$ 600 o hectare, como no extremo sul do Rio Grande do Sul, no Piauí e no Maranhão – já estão tomados por novos projetos e esta possibilidade também estará esgotada em dez anos, sem falar na valorização que também ocorre por lá. Na região do cerrado, exigências ambientais e de certificação para a madeira deverão impedir a abertura de novas áreas. Na América do Sul, possibilidades de expansão existem no Paraguai e Colômbia, mas somente se houver algum tipo de estabilidade política e política de atração de investimentos que até aqui nunca houve. Na África, países como Moçambique têm a característica de somente possuir terras públicas, com o que é possível obter uma concessão por 50 anos ou 100 anos sem grandes investimentos. Encerrando-se, portanto, o atual ciclo de investimentos no País, o rumo dos novos projetos certamente será o de se atravessar o Atlântico em busca de regiões inexploradas.

Para abastecer o setor industrial que já possui, no entanto, o Brasil conta com um fator de inegável competência: aumento de produtividade. Não há um levantamento seguro sobre o que existe no País, mas calcula-se que o setor de florestas plantadas ocupe hoje uma área entre 5,5milhões e 6 milhões de hectares que produzem atualmente 150 milhões de toneladas de madeira. Na época do plantio por incentivos, nos anos 70, a produtividade dessas florestas era muito baixa e, em 1980, não superava 15 metros cúbicos por hectare. Hoje já se aproxima de 40 metros cúbicos por hectare e continua subindo graças à incorporação de tecnologia como a pesquisa de novos clones, melhor preparo do terreno, adubação, uso de transgênicos e outras técnicas que trazem um comportamento econômico de maneira semelhante ao que ocorreu na agricultura brasileira. Isso quer dizer que estamos produzindo o dobro praticamente na mesma área plantada e a expectativa é dobrar mais uma vez esta produção até 2020, atingindo 300 milhões de toneladas de madeira quase que apenas com ganhos de produtividade. O Brasil desenvolveu e possui a melhor tecnologia do mundo no setor e logo ela estará em outros continentes.

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Posted in AFRICA, AGRICULTURA, AGRICULTURE, AGRONEGÓCIOS, ANGOLA, BRASIL, COMMODITIES MARKET, CONGO, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO AGRÍCOLA, EXPANSÃO ECONÔMICA, FLORESTAS PLANTADAS, FLUXO DE CAPITAIS, INTERNATIONAL, SETOR EXPORTADOR, THE FLOW OF INVESTMENTS | 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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OPEC GATHERS IN EMERGENCY MEETING AS OIL PRICES EVAPORATE; TALK OF 2M BARREL PRODUCTION CUT (Algeria)

Posted by Gilmour Poincaree on October 24, 2008


Last update: October 23, 2008 – 1:28 PM

by George Jahn, Associated Press

VIENNA, Austria – Iran and Venezuela on Thursday urged OPEC to quickly slash output and stem a Workers check the size on pipes at the Freeze Wall test site at Shell Oil Company's Mahogany Oil Shale Research Project near Meeker, Colo., on Wednesday, May 31, 2006. Shell Exploration & Production Co., which is poised to snap up a 160-acre experimental lease on federal lands rich in oil shale, gave a delegation of senators a progress report Wednesday on its efforts to bake shale oil from the ground in western Colorado (AP Photo - Ed Andrieski)steep slide in prices that has left crude at its cheapest in 15 months — and some member countries scrambling to balance their books.

But OPEC’s power to raise prices by cutting supply may be fading amid a global economic crisis that has evaporated demand for oil.

The latest weekly report from the U.S. Department of Energy shows that demand has fallen in 38 of the past 42 weeks. U.S. demand is down nearly 10 percent during the past four weeks year on year. The U.S. still consumes one out of every four barrels of oil produced.

“This is not a supply issue,” said trader and analyst Stephen Schork. “OPEC can affect supply but they can’t touch the demand side, which right now is a house of cards.”

Iranian oil minister Gholam Hossein Nozari told reporters, on the eve of an emergency OPEC meeting to address evaporating prices, that a cut of “two million (barrels per day) will stabilize” the market. And Rafael D. Ramirez, his Venezuelan counterpart, also left little doubt on where he stood.

“We have to take some action now, now,” said Ramirez, telling reporters that the 13 OPEC oil ministers meeting Friday will reach “consensus to take a very, very, very fast action.”

Both he and Iraq’s oil minister said their nations may be forced to rethink or cut spending next year.

Other oil ministers of the Organization of Petroleum Exporting Countries also said output cuts had to be on the table during their meeting Friday — but were well aware that if production is tightened too much, the resulting price spikes could knock a wobbling global economy even further out of kilter.

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COMÉRCIO ENTRE CHINA E PAÍSES DA CPLP ULTRAPASSA OS 53 MIL MILHÕES DE DÓLARES (Angola)

Posted by Gilmour Poincaree on October 24, 2008


Ano 8 – Edição Online nº 2529 – Sexta, 24 de Outubro de 2008

A balança comercial entre a China e a Comunidade dos Países de Língua Portuguesa (CPLP) ultrapassou em Agosto os 53 mil milhões de dólares, passando o objectivo dos vários governos para o final de 2009 (50 mil milhões de dólares).

Segundo o documento , Angola é o segundo parceiro lusófono da China, com trocas comerciais de 18,6 mil milhões, mais 133,1 por cento do que no mesmo período de 2007, e correspondentes a vendas de 16,89 mil milhões e compras de cerca de 1,77 mil milhões.

O comércio de Angola com a China continua em alta e a favor do primeiro país, à luz das trocas dos oito últimos meses, cujos dados foram publicados quarta-feira pelo Gabinete de Apoio ao Secretariado Permanente do Fórum para a Cooperação Económica e Comercial entre a China e os Países Lusófonos.

Em Agosto passado, as trocas comerciais somaram exactamente 53,3 mil milhões, 92,9 por cento a mais do que no mesmo período de 2007, no fim do qual se fixaram a 46,3 mil milhões.

A China comprou dos oito países de língua oficial portuguesa produtos no valor de 37,288 mil milhões de dólares e vendeu o equivalente a 16 mil milhões de dólares. Convém ressalvar a situação de São Tomé e Príncipe, o qual não está directamente ligado ao Fórum por ter relações diplomáticas com Taiwan, mas integra a lista de trocas comerciais.

O Brasil, que viu o comércio com a China aumentar 82,2 por cento, manteve-se como principal parceiro lusófono de Pequim, tendo exportado para o continente bens no valor de 20,1 mil milhões e importado o equivalente a 12,66 milhões, fechando as trocas comerciais globais com negócios no valor de 32,7 milhões.

Portugal é o terceiro parceiro lusófono da China, registando um comércio bilateral de 1,7 mil milhões relativos a vendas de 234,2 milhões e compras à China de 1,47 mil milhões de dólares.

O comércio entre a China e Portugal registou uma diminuição de 17,6 por cento nas importações chinesas e um aumento de 24,5 por cento nas importações de Portugal, o que corresponde a um acréscimo global das trocas de 16,3 por cento.

Portanto, o comércio entre a China e os países lusófonos mantém uma forte tendência de crescimento iniciada em Outubro de 2003, com o estabelecimento do Fórum para Cooperação Económica e Comercial entre a China e os Países Lusófonos, que tem na Região Administrativa Especial de Macau uma base de apoio de contratos e promoção.

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LOCAL STOCKS SUCKED INTO PIT OF DESPAIR (South Africa)

Posted by Gilmour Poincaree on October 24, 2008


October 24, 2008

by Palesa Motloung

Johannesburg – The JSE opened deeply in the red on Friday, as panic gripped Asian and European markets, which went into free fall despite a firmer close on Wall Street overnight.

The JSE opened 4.08 percent lower in a continuation of Thursday’s trend when it ended down 3.4 percent. The local bourse continued to be weighed by heavy losses in mining and resources stocks as precious metals prices continued to tumble.

At 9.16am, the JSE’s all share index had fallen 4.25 percent, weighed down by platinum stocks which fell 7.77 percent, gold miners which were down 7.45 percent and resources which lost 6.39 percent. Banks gave up 4.49 percent, financials lost 2.50 percent and industrials gave up 2.86 percent.

The rand was bid at R11.37 to the dollar from R11.14 when the JSE closed on Thursday. Dealers said the currency would experience another volatile day of trade as the dollar continues to surge and equity markets remain weak.

Gold was last quoted at $704.57 per ounce from $726.15 at the JSE’s last close. Platinum was at $787.50 per ounce, down 1.87 percent from Thursday’s close of $802.50. Brent crude was at $65.15 from its previous close of $65.92.

A trader said that even though the Dow ended up 2 percent overnight, the local market was following events in Asia. The trader added that although the US managed to recover, this did not have much of an impact in the light of recent losses.

He said that the weak rand was not having an effect because metals and resources prices continued to come under pressure and were weighing on the market.

The Nikkei closed 9.60 percent and the Hang Seng was last down 7.75 percent. In London the FTSE was last down just over 4 percent.

Dow Jones Newswires reported that European stocks fell, tracking losses in Asian markets overnight on continued concerns over health of the global economy.

“The fall is led by a broad-based sell-off with miners leading the declines and a host of warnings from companies are weighing heavily,” says a trader.

On the JSE, Anglo American fell R19.70, or 8.61 percent, to R209.05 and BHP Billiton gave up R8.28, or 5.44 percent, to R143.97. ArcelorMittal shed R6, or 7.23 percent, to R77 while Highveld Steel added R1.49, or 2.18 percent, to R69.99.

Petrochemical giant Sasol was down R11.99, or 4.41 percent, to R260.01.

AngloGold fell R16.99, or 9.39 percent, to R164, Gold Fields gave up R4.25, or 6.72 percent, to R59 and Harmony shed R3.94, or 5.34 percent, to R69.81. Platinum miner Anglo Platinum plummeted R35, or 8.24 percent, to R390, Impala Platinum gave up R7.55, or 7.06 percent, to R99.45 and Lonmin came down R19.22, or 8.94 percent, to R195.78.

Brewer SABMiller was down R4.10, or 2.73 percent, to R146.11, Barloworld lost R2, or 4 percent, to R48 and Tiger Brands fell R4.68, or 3.72 percent, to R121.

Standard Bank shed R3.52, or 5.03 percent, to R66.47, Nedbank shed R2.81, or 3.53 percent, to R76.69, Absa fell R2.05, or 2.51 percent, to R79.75 and First Rand was down 58c, or 4.95 percent, to R11.14.

RMB Holdings was down 70c, or 3.78 percent, to R17.80, but Investec gained R3.60, or 8.91 percent, to R44.

In the retail sector, JD Group gave up R1.50, or 6.12 percent, to R23, Foschini was down R1.95, or 6.08 percent, to R30.10 and Shoprite was down R2.01, or 4.28 percent, to R44.99.

Packaging group Astrapak lost 40c, or 6.67 percent, to R5.60 and construction group Aveng gave up R2.79, or 6.52 percent, to R40.01 and Group Five lost R1.21, or 3.13 percent, to R37.40.

MTN Group fell R4.66, or 5.62 percent, to R78.33 and Telkom was down R4, or 4.14 percent, to R92.70.

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PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

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