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Latest Posts By pharoah88 - Supreme      About pharoah88
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10-Aug-2011 13:39 User Research/Opinions   /   your biggest worries?       Go to Message
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Bank of Korea Governor Kim Choong-soo told Parliament the global market turmoil prompted by the US debt downgrade and Europe’s debt crisis meant that plans for “normalising” or raising interest rates had been put on ice.



Recent  sEll dOwn  was by  DEBTORS' SYNDICATION

tO  TERMINATE

the  Interest  " NOrmAlisAtiON"   plAn  ? ? ? ? 

whIch  wOUld  mUltIply  debtOrs'  bOrrOwIng cOsts ? ? ? ?
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10-Aug-2011 13:33 User Research/Opinions   /   your biggest worries?       Go to Message
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OPEC sees for growing world demand for oil

VIENNA

While revising demand growth slightly downward for both years, OPEC’s monthly forecast predicted that the world’s appetite for crude will show an increase of a daily 1.2 million barrels this year over last year and 1.3 million barrels a day next year compared to this year.

With major consumers like the United States and the European Union facing the prospects of a return to recession, any significant growth in demand will come from other regions, said the OPEC.

“Oil demand in the OECD is expected to continue its contraction after a temporary rebound last year,” said the report, referring to the group of the world’s major industrialised countries.

It said an apparent fall in Chinese oil demand in June — the first in eight months — “also confirms a weakening of manufacturing activities worldwide”.

Still, said the report, Chinese demand was expected to show 6.5 per cent growth rate for this year over last year, and “it is forecast that next year’s oil demand growth will take place in the non-OECD, mainly China, India, the Middle East and Latin America”.

For the US, the world’s greatest consumer, demand “will remain the wild card for next year, as it could ... be negatively influenced by the country’s economic turbulence, state policies and retail petroleum product prices”, said the report.

But overall, world oil demand — with its forecast daily demand growth of 1.3 million barrels — is expected to average 89.4 million barrels a day next year. That is a downward revision of only 19,000 barrels a day from last month’s OPEC forecast.

For this year, the report said preliminary figures showed global oil supply at 88.33 million barrels a day for last month — an increase of 800,000 barrels a day over June.

— World demand for oil will grow this year and next despite signs that the tepid international economic recovery is running out steam, the Organization of Petroleum Exporting Countries (OPEC) said yesterday.AP

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10-Aug-2011 13:27 User Research/Opinions   /   your biggest worries?       Go to Message
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S Korea’s regulator bans short-selling for 3 months

South Korean authorities yesterday banned short-selling of shares for three months in a bid to stem losses on a stock market that has lost 17 per cent or almost US $200 billion (S$243 billion) in value in the past six trading days.

The move came as state funds stepped in to try and shore up local share prices and after the Bank of Korea appeared to suggest that interest rate hikes were off the agenda when it meets on Aug 11.

South Korea’s Financial Services Commission said short selling, mainly by foreign investors, hit a record high of 432.8 billion won (S$484.3 million) on Aug 3.

“Short-selling triggered market instability,” the regulator said in a statement after the stock market closed. The main Seoul stock index finished down 3.6 per cent at 1,801.35 points yesterday, its weakest close since Sept 9 last year after tanking as much as 9.9 per cent.

Bank of Korea Governor Kim Choong-soo told Parliament the global market turmoil prompted by the US debt downgrade and Europe’s debt crisis meant that plans for “normalising” or raising interest rates had been put on ice.

Reuters

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10-Aug-2011 13:22 User Research/Opinions   /   your biggest worries?       Go to Message
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Indonesia holds key rate to aid growth

JAKARTA

Bank Indonesia maintained its reference rate at 6.75 per cent, it said yesterday. Policy makers increased the key rate in February, the only move this year.

More than US$9 trillion (S$10.94 trillion) has been wiped off stocks worldwide since the start of May as the European debt crisis and a faltering US recovery darken the global economy outlook. Slowing inflation has given the central bank scope to defend Indonesia’s expansion by leaving rates unchanged, which bolsters consumer spending in the fourth-most populous nation.

PT Bank CIMB Niaga economist Andry Asmoro said “inflation pressure remains manageable” as “the fragility in markets is temporary and Indonesia’s outlook still looks promising as growth will continue to accelerate in the third and fourth quarters”.— Indonesia’s central bank left interest rates unchanged for a sixth month, opting to protect growth after a United States credit rating cut and a global stock market rout fuelled concern the world economy will slow.

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10-Aug-2011 13:18 User Research/Opinions   /   your biggest worries?       Go to Message
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ECB sets price for mounting rescue

ROME

Acting against the advice of Germany’s Bundesbank, the ECB has been drawn into a role in the markets that had been intended for the euro zone governments’ bailout fund, the European Financial Stability Facility (EFSF).

The ECB bond buying operation — which could reach €850 billion (S$1.47 trillion) according to analysts at RBS — has also transferred significant risk to the balance sheet of an organisation that has traditionally stuck to its remit of controlling inflation.

Behind the scenes, moreover, it has begun to dictate — and in reportedly meticulous detail — the policies to be followed in one of Europe’s biggest economies.

Before mounting the intervention that drove down Italian and Spanish borrowing costs on Monday, the ECB had spent some €75 billion buying the debt of Greece, Ireland and Portugal. Under the terms of an agreement struck by euro zone leaders last month, however, the bank’s bond-buying powers are to be assumed by a reformed EFSF.

It had been hoped that the changes could be ratified before contagion threatened Spain or Italy. But with parliaments in recess and European leaders on holiday, the overhaul of the fund is unlikely to be approved much before the end of September.

According to the Italian daily,

The paper said the bank’s demands almost amounted to a new government programme:

“The level of detail in the letter must have astonished even the recipient. There are the measures to be taken there is the timetable according to which they must be implemented. Not even the legislative instruments that the ECB asks the government to use have been left out.”— The European Central Bank’s decision to start buying up Italian and Spanish bonds has controversially extended its operations into detailed demands for economic restructuring, it has emerged.Corriere della Sera, ECB’s president, Mr Jean-Claude Trichet, and his successor-designate, the governor of the Bank of Italy, Mr Mario Draghi, sent a letter to Italy’s Prime Minister Silvio Berlusconi at the end of last week dictating the terms on which the ECB was prepared to buy Italy’s increasingly costly debt.

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10-Aug-2011 13:06 User Research/Opinions   /   your biggest worries?       Go to Message
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Opposition parties’ message for S’poreans

Continue to speak up, participate in the debate and join an organisation that shares your beliefs so that together, your voices are louder.

National Solidarity Party’s secretary-general Hazel Poa

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10-Aug-2011 13:00 User Research/Opinions   /   your biggest worries?       Go to Message
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Subsidise trips

for treatment too

Letter from Raymond Anthony Fernando

I refer to the letter “After a fare hike, an inclusive society?” (Aug 3). People with disabilities face huge roadblocks in their lives and a lack of support makes it difficult for them to move on in life.

Family members, who are their backbone, could do with financial support, improved access to services in the community and, above all, they need a break.

Respite care is a priority need for families who are “on duty” 24 hours a day, 365 days a year.

I am disappointed the National Council of Social Service’s taxi subsidies for disabled people only support trips to work or school.

Why not extend subsidies for them to go to hospitals and clinics for their medical treatment or even for recreational needs?

My wife, whose medical appointments have increased from four to eight a month due to her advanced arthritis, worries about our finances because, on average, I spend about $160 per month on taxis. And I do not have a fulltime job.

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10-Aug-2011 12:50 User Research/Opinions   /   your biggest worries?       Go to Message
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Downside to multicornered presidential race

Letter from Edwin Yeo Tee Yeok

While the prospect of a multicandidate contest for the Presidency looks to be an exciting spectacle, I am concerned that the splitting of votes among the candidates could result in a situation where the winner garners fewer than half of the total votes cast.

In such an event, one would be hard-pressed to justify a “people’s mandate” for the Elected President since more than half of the electorate would not have voted for him.

Such an Elected President may find it hard to gain respect, especially if the contest had been heated, with emotions running high, or if he had won by a small margin.

Imagine the following scenario:

The President is escorted to the podium during the National Day Parade, but only fewer than half of the spectators welcome him.

I hope this does not happen and that Singaporeans will be mature enough to respect the election outcome.

However, in future, perhaps the authorities could consider amending the election rules to provide for “run-off” elections if no candidate is able to win more than 50 per cent of the total votes cast.

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10-Aug-2011 12:43 User Research/Opinions   /   your biggest worries?       Go to Message
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Leaders, banks should

stop the stampede

Financial markets can create their own dangerous dynamic, as Warren Buffett pointed out after Standard & Poor’s downgraded United States debt securities on Aug 5. Buffett was on the mark.

The downgrade triggered panic selling around the globe on Monday, leading to demands for more collateral from investors, who sold still more shares to meet the margin calls.

The resulting drop in equity prices, coming on top of last week’s more than US$4 trillion (S$4.86 trillion) plunge in global stock market value, will probably dampen consumer confidence and increase the chances of another recession.

With fear begetting more fear, and with US and European economies in a precarious state, government leaders on both continents have only one sane path: To prevent recession and restore faith in the financial system. This is easier said than done, particularly in an American election year. But here’s how we can get started.

To begin, congressional leaders in both parties should name within days — and not wait for the Aug 16 deadline — the 12 members of the supercommittee called for in the recent debt-ceiling accord.

To hasten the process, Senate Majority Leader Harry Reid of Nevada and Senate Minority Leader Mitch McConnell of Kentucky should name the Senate’s Gang of Six to the panel.

That group, composed of three Democrats and three Republicans, proposed shaving US$3.7 trillion from the national debt over 10 years, including US$1 trillion in tax increases.

The plan, which won broad bipartisan support when it was released in mid-July, could quickly become the supercommittee’s recommended course with just one more vote, presumably from a Democratic House member named to the panel.

If so, the supercommittee would more than double the 10-year, US$1.5 trillion debtreduction package mandated by the debtceiling agreement.

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10-Aug-2011 12:33 User Research/Opinions   /   your biggest worries?       Go to Message
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New Zealand has net foreign debt of 130 per cent of GDP, and Australia 60 per cent, yet they still get a top rating from the credit rating agencies and their currencies have been very strong despite experiencing external deficits during a boom in their commodity export prices.

Meanwhile, the currencies that should be much stronger — like South Korean won, Taiwan and Hong Kong dollars and Chinese yuan — are forcibly held back.

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10-Aug-2011 12:26 User Research/Opinions   /   your biggest worries?       Go to Message
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The Korean government has chosen this moment to buy gold at a price six times that of August 2001 and within sight, in inflationadjusted terms, of its short-lived 1980 peak.

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10-Aug-2011 12:17 User Research/Opinions   /   your biggest worries?       Go to Message
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The current, so-called crisis is causing some bizarre, panicdriven decision making.

Asian investors are continuing to believe Australia and New Zealand are safe havens though their foreign debts, relative to their economies, are several times those of the US.even

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10-Aug-2011 12:14 User Research/Opinions   /   your biggest worries?       Go to Message
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US debt is not the (only) culprit

Policies of Asian nations have contributed to the sustained international trade imbalances that fed this crisis

Philip Bowring

Asian reactions to the so-called United States debt crisis amount to a mixture of bafflement and hypocrisy.

Fear of the knockon effect on regional economies sits side-byside with assumptions by Asians that they had no part in creating today’s problems.

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10-Aug-2011 12:07 User Research/Opinions   /   your biggest worries?       Go to Message
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Elevated inflation shows that China is still dealing with the after-effects of an unprecedented monetary expansion during the last global slump and may have limited room for more stimulus.

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10-Aug-2011 12:05 User Research/Opinions   /   your biggest worries?       Go to Message
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6.5% inflation limits

China’s response to crisis

BEIJING — China’s inflation accelerated to the fastest pace in three years last month, limiting the scope for monetary easing to support growth as plunging stock markets signalled a weakening global recovery.

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10-Aug-2011 11:34 Genting Sing   /   GenSp starts to move up again       Go to Message
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GENTING SPORE
Updated: 
10 AUG 2011 11:32:26
Weighted Average Price: 
1.7405
Last Done Price: 
1.720
Spread / Price Ratio: 
0.0029
AVG Trade Size: 
18
 
Price Trade Volume Bid Mid Ask
1.715 10 110,000 110,000 0 0
1.720 157 4,800,000 2,853,000 605,000 1,342,000
1.721 2 32,000 0 32,000 0
1.724 1 37,000 0 37,000 0
1.725 122 5,867,000 4,602,000 0 1,265,000
1.727 2 51,000 0 51,000 0
1.730 61 5,959,000 3,164,000 0 2,795,000
1.731 2 39,000 0 39,000 0
1.733 3 330,000 0 330,000 0
1.735 345 11,234,000 7,714,000 248,000 3,272,000
1.738 7 378,000 0 378,000 0
1.739 332 13,141,000 6,853,000 446,000 5,842,000
1.742 4 162,000 0 162,000 0
1.745 458 17,632,000 11,815,000 1,361,000 4,456,000
1.747 16 582,000 0 582,000 0
1.750 633 23,340,000 5,438,000 656,000 17,246,000
1.753 2 116,000 0 116,000 0
1.754 124 2,672,000 111,000 107,000 2,454,000
           
TOTAL: 2,282 86,502,000 42,680,000 5,150,000 38,672,000
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10-Aug-2011 11:31 Genting Sing   /   GenSp starts to move up again       Go to Message
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11:11:27 1.730 1,932,000 A
11:11:26 1.730 61,000 B
11:11:21 1.730 1,000
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10-Aug-2011 11:28 Genting Sing   /   GenSp starts to move up again       Go to Message
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10:10:04 1.740 1,281,000 A
10:10:00 1.740 20,000 A
10:09:59 1.740 5,000 A
10:09:43 1.740 200,000
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10-Aug-2011 11:25 Genting Sing   /   GenSp starts to move up again       Go to Message
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Wednesday: 10th August 2011

 
09:35:14 1.745 5,000 B
09:35:12 1.750 3,000,000 A
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08-Aug-2011 18:27 User Research/Opinions   /   your biggest worries?       Go to Message
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Monster SSDs to Hit Market, Lesser SSDs Cower In Fear

Monday, 8 Aug 2011, 10:01am (8 hours 7 min ago)       



SMART Modular Technologies has released a press release that boasts a line of monster SSDs to make those currently in the market look like bargain-bin hardware.

The Optimus line is built for enterprise storage and features capacities of up to a whopping 1.6TB, as well as supposedly supporting read/write speeds of 100K/50K random IOPS and 500/500MB/s sustained transfer rates.

The 2.5-inch SSDs will also come with SMART's Guardian technology, which is supposed to ensure that your drive is reliable and no data is compromised.

Hit the link for more.

Press release here.

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