Go Finance Reporting in SINGAPORE - Oil prices in Asian markets crashing below USD93 per barrel level after Greece shocked the issue of financial crises that undermine investor confidence in the euro currency.
As quoted by the Associated Press (AP), Monday (06/20/2011), benchmark crude for July delivery this afternoon when Singapore fell 40 cents to USD92, 61 per barrel in electronic trading on the New York Mercantile Exchange (Nymex). When compared with last Friday's close, there is a decrease of $ 1, 94 a barrel or two percent at the level of USD93, 01.
Meanwhile, in London, Brent crude for August delivery fell 67 cents to USD112, 54 per barrel on the ICE Futures Exchange.
In addition to the Greek factor, a factor strengthening U.S. dollar also contributed to drag oil prices continue to decline from almost penetrate USD115 at the beginning of the month.
Meeting of eurozone finance ministers did not produce an agreement to provide additional emergency assistance for Greece which is necessary for the country to avoid bankruptcy in the next month.
The euro weakened to $ 1 Monitored, 4281 per euro in trading today from USD1, 4307 per euro at the close of the weekend.
"We think that the strengthening U.S. dollar will continue and bring the price of oil through $ 80 a barrel level," said energy consultant Schork Group.
According to him, if the euro weakened to below USD1, 4 per euro then the likelihood of oil prices will fall lower than USD88 per barrel.
In other Nymex trading in the contracts in July, heating oil fell 1.3 cents to $ 2, 97 per gallon, while gasoline fell 1.7 cents to $ 2, 93 per gallon. Natural gas futures fell 1.7 cents to $ 4, 31 per 1,000 cubic feet. (GoFinance)
Monday, June 20, 2011
::Gold Prices Print record high points>>
Go Finance Reporting in SINGAPORE - The price of gold moves higher gains the highest price in one day in three weeks. This happens due to the falling U.S. dollar exchange rate and the progress of Greece's debt crisis.
As quoted by Reuters on Monday (06/20/2011), the price of gold rose $ 1, 40 to USD1.539, 80 per ounce. Earlier, on Friday last week, gold also rose to USD1.541. However, gold prices are still below the highest level at approximately USD1.575 in early May.
While silver prices stabilized at $ 36, 00 an ounce, below the record highs USD49, 51 per ounce in April.
Finance ministers postpone decision to extend the European zone further assistance of 120 billion euros, or $ 17 billion in emergency loans to Greece. Because the Greek government should first do the saving.
Greek parties say they need the loan to avoid default to pay the debt in mid-July. The ministers affirmed that the disbursement of the loan will depend on the law of the Greek parliament on the issue of fiscal reform and the sale of state assets.
In addition to formal loans, the new bailout will include the rollover will also voluntarily by private investors on their holdings in Greek government securities. But in a statement, it does not say how large the bailout. (GoFinance)
As quoted by Reuters on Monday (06/20/2011), the price of gold rose $ 1, 40 to USD1.539, 80 per ounce. Earlier, on Friday last week, gold also rose to USD1.541. However, gold prices are still below the highest level at approximately USD1.575 in early May.
While silver prices stabilized at $ 36, 00 an ounce, below the record highs USD49, 51 per ounce in April.
Finance ministers postpone decision to extend the European zone further assistance of 120 billion euros, or $ 17 billion in emergency loans to Greece. Because the Greek government should first do the saving.
Greek parties say they need the loan to avoid default to pay the debt in mid-July. The ministers affirmed that the disbursement of the loan will depend on the law of the Greek parliament on the issue of fiscal reform and the sale of state assets.
In addition to formal loans, the new bailout will include the rollover will also voluntarily by private investors on their holdings in Greek government securities. But in a statement, it does not say how large the bailout. (GoFinance)
::Japan's export sales drop 10.3%>>
Go Finance Reporting in TOKYO - Japan's export performance in May 2011 decreased 10.3 percent compared to same period previous year. Japan hit by massive losses, especially in the automotive sector following the earthquake and tsunami disaster.
As quoted from the Associate Press on Monday (06/21/2011), Japan's exports to 4.76 trillion yen, equivalent to $ 6 billion. While imports rose 12.3 percent to 5.61 trillion yen, so the trade deficit was recorded 853.7 billion yen. It is Japan's second-largest deficit after deficit of 967.9 billion yen in January 2009.
Japanese automobile exports in May fell 38.9 percent and shipments of auto parts fell 18.5 percent because of the earthquake and tsunami that struck on March 11, northern Japan.
The disaster left more than 23,000 people dead and missing, also destroyed hundreds of factories in the northeastern coast of Japan. This forced manufacturers such as Toyota Motor Corp. and Sony Corp. to stop production. Japanese exports to the United States fell 14.6 percent in May. U.S. bound export car nose dived 43.5 percent in the month.
Exports to China, Japan's largest trading partner fell 8.1 percent. As for Asia, exports dropped 8.7 percent, and Japan's exports to the European Union fell 8.8 percent. (GoFinance)
As quoted from the Associate Press on Monday (06/21/2011), Japan's exports to 4.76 trillion yen, equivalent to $ 6 billion. While imports rose 12.3 percent to 5.61 trillion yen, so the trade deficit was recorded 853.7 billion yen. It is Japan's second-largest deficit after deficit of 967.9 billion yen in January 2009.
Japanese automobile exports in May fell 38.9 percent and shipments of auto parts fell 18.5 percent because of the earthquake and tsunami that struck on March 11, northern Japan.
The disaster left more than 23,000 people dead and missing, also destroyed hundreds of factories in the northeastern coast of Japan. This forced manufacturers such as Toyota Motor Corp. and Sony Corp. to stop production. Japanese exports to the United States fell 14.6 percent in May. U.S. bound export car nose dived 43.5 percent in the month.
Exports to China, Japan's largest trading partner fell 8.1 percent. As for Asia, exports dropped 8.7 percent, and Japan's exports to the European Union fell 8.8 percent. (GoFinance)
::EU Delays Provide Emergency Assistance to Greece>>
Go Finance Reporting LUXEMBOURG - Finance Ministers of the European Zone postpone its decision to extend further assistance amounting to 120 billion euros, or $ 17 billion in emergency loans to Greece. Because the Greek government should first do the saving.
Greek parties say they need the loan to avoid default to pay the debt in mid-July. The ministers affirmed that the disbursement of the loan will depend on the law of the Greek parliament on the issue of fiscal reform and the sale of state assets.
As quoted by AFP on Monday (06/20/2011), the ministers issued a statement after a seven-hour hold meetings in Luxembourg. The ministers also plan a second bailout for Greece after the first bailout provided 110 billion euros in May last year.
The minister said that in addition to official loans, the new bailout will include the rollover will also voluntarily by private investors on their holdings in Greek government securities. But the statement did not say how large the bailout.
Meanwhile, Prime Minister of Greece George Papandreou asks citizens to support the austerity measures and avoid disaster by default. He also appealed for the nation to receive a very unpopular tax increases, spending cuts and privatization plans that are required of international donors.
"The consequences of bankruptcy violent or out of the euro zone would be a disaster for households, banks and the credibility of the state," said Papandreou. (GoFinance)
Greek parties say they need the loan to avoid default to pay the debt in mid-July. The ministers affirmed that the disbursement of the loan will depend on the law of the Greek parliament on the issue of fiscal reform and the sale of state assets.
As quoted by AFP on Monday (06/20/2011), the ministers issued a statement after a seven-hour hold meetings in Luxembourg. The ministers also plan a second bailout for Greece after the first bailout provided 110 billion euros in May last year.
The minister said that in addition to official loans, the new bailout will include the rollover will also voluntarily by private investors on their holdings in Greek government securities. But the statement did not say how large the bailout.
Meanwhile, Prime Minister of Greece George Papandreou asks citizens to support the austerity measures and avoid disaster by default. He also appealed for the nation to receive a very unpopular tax increases, spending cuts and privatization plans that are required of international donors.
"The consequences of bankruptcy violent or out of the euro zone would be a disaster for households, banks and the credibility of the state," said Papandreou. (GoFinance)
::Global Exchange Fire, IHSG Enduring on the Green Line>>
Go Finance Reporting in JAKARTA - Although still in the green belt, the trade Composite Stock Price Index (IHSG) began to slow compared to the morning trading session which influenced the negative sentiment that swept the regional and global exchanges.
IHSG, Monday (06/20/2011) afternoon closed up 6.82 points, or 0.2 percent, to 3729.12. LQ45 index rose 1.52 points to 660.31 and the Jakarta Islamic Index (JII) rose Rp1, 33 points to 512.29.
Trading volume today was recorded as 4.24 billion shares worth Rp2, 83 trillion. As many as 86 stocks advanced, 143 stocks fell, and 97 stocks experienced price changes. Foreign investors continued selling the action net Rp41, 212 billion.
Asian stocks again buffeted by negative sentiment that makes a number of exchanges plunged into the red zone as the Hang Seng index slipped 95.75 points, or 0.44 percent to 21,599.51 and the broader All Ordinaries index fell 38.6 points, or 0.85 percent, to 4512 , 5. While the Nikkei 225 index still rose a thin 2.92 points, or 0.03 percent, to 9354.32 and the Straits Times rose 13.31 points, or 0.44 percent, to 3017.03.
European bourses are compact in the red zone after a decision postponed a bailout for the Greek cause and the impact on the euro weakened capital markets. FTSE 100 down 66.1 points, or 1.16 percent, to 5648.65, the CAC 40 fell 53.85 points, or 1.41 percent to 3769.99 and the DAX fell 96.03 points, or 1.35 percent to 7067.93 .
Strengthening consumer sector still leads with 12.78 points followed up the mining sector which rose 3.2 points and the manufacturing sector rose 2.51 points.
Stocks are moving higher (top gainers) including PT Surya Toto Indonesia Tbk (TOTO) rose Rp 4.000 to Rp42.000, PT Dian Swastatika Sentosa Tbk (DSSA) rose Rp1.000 to Rp16.000, and PT Gudang Garam Tbk (GGRM) rose Rp 1,000 to Rp 45.300.
While stocks are moving down (top lossers) including PT Indocement Tunggal Prakasa Tbk (INTP) down Rp350 to Rp16.550, PT Bukit Asam Tbk (PTBA) down Rp 250 to Rp 20.550, and PT Adira Dinamika Multifinance Tbk (ADMF) down Rp 200 to Rp 12.800. (GoFinance)
IHSG, Monday (06/20/2011) afternoon closed up 6.82 points, or 0.2 percent, to 3729.12. LQ45 index rose 1.52 points to 660.31 and the Jakarta Islamic Index (JII) rose Rp1, 33 points to 512.29.
Trading volume today was recorded as 4.24 billion shares worth Rp2, 83 trillion. As many as 86 stocks advanced, 143 stocks fell, and 97 stocks experienced price changes. Foreign investors continued selling the action net Rp41, 212 billion.
Asian stocks again buffeted by negative sentiment that makes a number of exchanges plunged into the red zone as the Hang Seng index slipped 95.75 points, or 0.44 percent to 21,599.51 and the broader All Ordinaries index fell 38.6 points, or 0.85 percent, to 4512 , 5. While the Nikkei 225 index still rose a thin 2.92 points, or 0.03 percent, to 9354.32 and the Straits Times rose 13.31 points, or 0.44 percent, to 3017.03.
European bourses are compact in the red zone after a decision postponed a bailout for the Greek cause and the impact on the euro weakened capital markets. FTSE 100 down 66.1 points, or 1.16 percent, to 5648.65, the CAC 40 fell 53.85 points, or 1.41 percent to 3769.99 and the DAX fell 96.03 points, or 1.35 percent to 7067.93 .
Strengthening consumer sector still leads with 12.78 points followed up the mining sector which rose 3.2 points and the manufacturing sector rose 2.51 points.
Stocks are moving higher (top gainers) including PT Surya Toto Indonesia Tbk (TOTO) rose Rp 4.000 to Rp42.000, PT Dian Swastatika Sentosa Tbk (DSSA) rose Rp1.000 to Rp16.000, and PT Gudang Garam Tbk (GGRM) rose Rp 1,000 to Rp 45.300.
While stocks are moving down (top lossers) including PT Indocement Tunggal Prakasa Tbk (INTP) down Rp350 to Rp16.550, PT Bukit Asam Tbk (PTBA) down Rp 250 to Rp 20.550, and PT Adira Dinamika Multifinance Tbk (ADMF) down Rp 200 to Rp 12.800. (GoFinance)
::Depressed Rupiah Greek Issues>>
Go Finance Reporting in JAKARTA - The rupiah seemed depressed by the weakening euro against the dollar the United States (U.S.). The weakening of the euro is linked to the news of the bailout both to Greeks who have not liquid as well.
Rupiah, according to the middle exchange rate of Bank Indonesia (BI) at the level of parking Rp8.578 per USD, rose when compared with the previous trading period at Rp8.595 per USD.
Meanwhile, according yahoofinance, rupiah at Rp8.617, 5 per USD with a daily trading range in Rp8.587-Rp8.617 per USD. While on the other hand, seem to be rallying above U.S. dollar and other currencies. The euro fell to Rp1, 42 per USD, and the pounds fell 1.6137 per USD.
A stronger U.S. dollar is not separated from the news that blow in Greece. Finance ministers of the European Union (EU) met on June 19 to 20 yesterday to talk about a second bailout for Greece so as not to trigger widespread defaults.
German Chancellor who had previously refused, Greece expects bondholders are willing to do an extension on a voluntary basis with incentives. The meeting will formulate incentives and will set out in EU-led meeting on June 23 to 24 this.
Although the scheme is still complicated, but it seems the EU will approve the bailout plan as requested by the Greeks to prevent a larger financial crisis especially Italians threatened downgrades by Moody's from the current position at Aa2. (GoFinance)
Rupiah, according to the middle exchange rate of Bank Indonesia (BI) at the level of parking Rp8.578 per USD, rose when compared with the previous trading period at Rp8.595 per USD.
Meanwhile, according yahoofinance, rupiah at Rp8.617, 5 per USD with a daily trading range in Rp8.587-Rp8.617 per USD. While on the other hand, seem to be rallying above U.S. dollar and other currencies. The euro fell to Rp1, 42 per USD, and the pounds fell 1.6137 per USD.
A stronger U.S. dollar is not separated from the news that blow in Greece. Finance ministers of the European Union (EU) met on June 19 to 20 yesterday to talk about a second bailout for Greece so as not to trigger widespread defaults.
German Chancellor who had previously refused, Greece expects bondholders are willing to do an extension on a voluntary basis with incentives. The meeting will formulate incentives and will set out in EU-led meeting on June 23 to 24 this.
Although the scheme is still complicated, but it seems the EU will approve the bailout plan as requested by the Greeks to prevent a larger financial crisis especially Italians threatened downgrades by Moody's from the current position at Aa2. (GoFinance)
Sunday, June 19, 2011
::National Coffee Production Declines>>
Go Finance Reporting in JAKARTA - The Association of Indonesian Coffee Exporters and Industry (AEKI) predicts, national coffee production this year will reach 600 thousand tons. That number has decreased compared to last year. Chairman AEKI Suyanto Husein said, national coffee production last year was approximately 640 thousand tons.
Actually, Suyanto said, earlier this year, production is targeted to reach 700 thousand tons. However, he continued, the target was revised due to weather conditions that have not been good and still a lot of old coffee plants. Thus, according to Suyanto, production in some areas also decreased. Currently, said Suyanto, 90 percent of the total 1.2 million hectares (ha) coffee plantation in Indonesia are managed by small farmers.
"We will establish cooperation with relevant ministries to provide a broader land for farmers. In order for the next 10 years of production could reach 900 thousand-1, 2 million tons. We also want to improve the quantity and quality by expanding the land and the use of organic fertilizers, "Suyanto said in Jakarta last weekend.
Suyanto said, the effort to improve coffee production is expected to be in line with national growth of coffee consumption. Including, he said, to realize the development of downstream industries in the domestic coffee. The plan, he said, had discussed with the Minister of Industry, MS Hidayat.
"We hope, in the domestic coffee consumption continues to rise. Currently, it has grown and become part of the lifestyle. It appears from the development of the coffee shop," said Suyanto.
AEKI noted, at this time, Indonesia is the third largest coffee producer in the world, after Brazil and Vietnam. Meanwhile, Indonesia's coffee exports in 2010 is 443 thousand tons, valued at USD791, 76 million.
"Currently, the high demand for coffee in the world. The price is also starting high. If 10 percent of Indonesia's population who drink up to three cups of coffee per day, we finished production is absorbed locally," said Vice Chairman AEKI specialty fields and Coffee Industry Pranoto Soenarto.
Therefore, he added, the program increased production with land development, should be focused on farmers. So, can enjoy the growth of the world coffee market.
"If you can, industries with large-scale coffee companies do not invest in medium-land again. We propose the addition of farmers' land only. So, in the domestic industry to buy from farmers," said Pranoto. (GoFinance)
Actually, Suyanto said, earlier this year, production is targeted to reach 700 thousand tons. However, he continued, the target was revised due to weather conditions that have not been good and still a lot of old coffee plants. Thus, according to Suyanto, production in some areas also decreased. Currently, said Suyanto, 90 percent of the total 1.2 million hectares (ha) coffee plantation in Indonesia are managed by small farmers.
"We will establish cooperation with relevant ministries to provide a broader land for farmers. In order for the next 10 years of production could reach 900 thousand-1, 2 million tons. We also want to improve the quantity and quality by expanding the land and the use of organic fertilizers, "Suyanto said in Jakarta last weekend.
Suyanto said, the effort to improve coffee production is expected to be in line with national growth of coffee consumption. Including, he said, to realize the development of downstream industries in the domestic coffee. The plan, he said, had discussed with the Minister of Industry, MS Hidayat.
"We hope, in the domestic coffee consumption continues to rise. Currently, it has grown and become part of the lifestyle. It appears from the development of the coffee shop," said Suyanto.
AEKI noted, at this time, Indonesia is the third largest coffee producer in the world, after Brazil and Vietnam. Meanwhile, Indonesia's coffee exports in 2010 is 443 thousand tons, valued at USD791, 76 million.
"Currently, the high demand for coffee in the world. The price is also starting high. If 10 percent of Indonesia's population who drink up to three cups of coffee per day, we finished production is absorbed locally," said Vice Chairman AEKI specialty fields and Coffee Industry Pranoto Soenarto.
Therefore, he added, the program increased production with land development, should be focused on farmers. So, can enjoy the growth of the world coffee market.
"If you can, industries with large-scale coffee companies do not invest in medium-land again. We propose the addition of farmers' land only. So, in the domestic industry to buy from farmers," said Pranoto. (GoFinance)
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