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| May 31, 2008 | | Inflation: Who will shelter the poor?
Lakhs of people are suffering from rising crude oil and food grain prices throughout the world. Even as the world is on the edge of a major crisis, the income disparities are only widening with more and more wealth falling into the hands of a few elites.
If global inflation rises, it will be good for gold
There are two important points about the price correction in gold. The first one is the anti-correlation with the U.S. dollar; certainly that put pressure on gold. The second one, which may be even more important, is that people really seem to believe that the financial system is safe again.
'Commodity prices did rise as interest rates fell'
Commodity prices did rise as interest rates fell.
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| May 27, 2008 | | How India calculates inflation
How is inflation calculated in India? Why is it announced on Fridays? And how do other countries calculate inflation? Read on . . .
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| May 26, 2008 | | Jatropha makes this man do anything at any cost
Banks denied him funding, the red-tapism and bureaucracy was also of no help. That did not discourage Akshay Vir Singh Tyagi from venturing into Jatropha cultivation seeing the huge potential for biofuels in the coming years. He has already promoted Jatropha cultivation in 5,500 acres of land in Uttar Pradesh and is aiming high. Tyagi already has invitation to set up projects in Maharashtra.
Indian economy on stable growth path
Excerpt from the address by Reserve Bank of India Governor Dr at the Institute of South Asian Studies, Singapore on May 20, 2008.
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| May 24, 2008 | | Needed: Another OPEC to solve oil crisis
Here is an astonishing fact: on December 10 1998, the spot price for a barrel of West Texas Intermediate crude was exactly $10 and ninety eight cents. Nearly 10 years and one thousand and sixty two per cent later, it is time to ask some impolite questions about oil. Impolite questions are not always obvious questions, though.
Why you should not swim with gold jewels on
The pure gold is alloyed with silver, copper and various to make it suitably hard for jewelery making. The percentage of pure gold is denoted by its carat (k) weight. Pure gold is 24k (ie.100per cent gold), the other common alloy carat weights are 22k, 18k, 14k, 10k and 9k. 9k gold is the hardest alloy. In addition to yellow gold, white gold and rose gold are also popular options. You can also find many two-tone styles, if you prefer a mix of colours.
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| May 23, 2008 | | What can tame the surging oil, gold prices?
Speculators are wondering over the volatility of oil and gold market as its graph soaring to a pinnacle level that nobody ever seen before. Of course there must be some driving factors behind this surge. What is really driving oil, food and Gold Prices higher -- commodity demand or money supply...? "You can't go to bed these days without waking up to higher prices for everything" says Dan Denning for The Daily Reckoning in Melbourne, Australia...
Who will write CTT horrorscope?
The uncertainty over the implementation of the new tax continues as the Finance Bill has not been passed by the Parliament. Finance minister P Chidambaram had announced in his Budget proposal that the levy would come into effect from April 1. The uncertainty over the implementation of the new tax continues as the Finance Bill has not been passed by the Parliament. P Chidambaram had announced in his Budget proposal that the levy would come into effect from April 1.
Tackling climate calamities, the scientific way
The Village Resource Centres under ISRO programme must be linked with online network to disseminate agro advisory based on weather forecasting. It is very pertinent during weather calamities to minimise crop losses. In an event of unusual summer rains in Kerala, Kutttanad and Thrissur paddy farmers suffered to a large extent. If advance weather service is extended at community level, crop loss would have been minimised to some extent by covering the paddy grains.
Forget rising oil; invest in natural gas
Oil billionaire T Boone Pickens has predicted that crude oil will touch $150 soon. And he also says the one commodity that will grow bigger than oil is natural gas. In the last one year, natural gas prices across the world, especially in the US, UK and Russia have more than doubled.
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| May 22, 2008 | | Threat of methane-laden air looms large
Scientists have been warning about the impending natural disaster due to man's quest to produce energy through conventional means as it is bound to increase greenhouse gas emissions. However, some western countries have taken this as a serious concern due to the mounting pressure from the environmentalists. Methane (CH4) is the primary component of natural gas and an important energy source.
High oil price is a reality
The high and rising price of oil is causing real pain in the heartland. . . and yet the view looks quite different from the Middle East. Chakib Khelil, the Algerian oil minister and president of OPEC, has flatly stated that "there is no shortage." The oil minister of Qatar is even more blunt. "The market doesn't need more oil," he says.
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| May 15, 2008 | | Why steel is a hot commodity in India
India's steel industry is surging ahead, entering into global deals and taking the country's economy to new heights. The Indian government plans to invest over $350 billion in steel industries related to infrastructure and construction. The Indian government estimates that steel production would grow at a CAGR of 16 per cent to touch 124.06 MT by 2011-12. India's steel production capacity is estimated to be 200 MT by 2020.
India's experiments with inflation
With inflation rising at its fastest rate, the Union government was prompted to reduce import duties on edible oils even as Reserve Bank of India is expected to bring in tighter monetary policies to combat the rising inflation rate. In an effort to temper price rises, the government has already cut import duties on edible oils and banned the export of pulses and most types of rice.
Why no small-scale farmer in India is happy
Even though the government is making tall claims about the agriculture loan waiver and myriads of schemes for the uplift of farmers in the country, if you want to know the plight of small farmers you have to really go to the grassroots and ask them. In India there is not a single small-scale farmer who is living a happy life with enough income from his fields.
Check gold purity with carat meter and be safe
A recent survey by Bureau of Indian Standards in Delhi revealed that there was indeed cheating on the part of jewelers and consumers were getting much lesser value for gold for the amount they pay.
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| May 09, 2008 | | Is the gold bull run ending?
The current battle in the gold market sits around the $900 level, a fairly steep retrenchment from the recent highs of $1,030 per ounce, writes David Galland of Casey Research. Some investors, their hopes dashed that $1,000 would be quickly and decisively overrun, are seeing disaster in this correction and dropping their gold investments as they run for cover. But current correction does not imply reversal in gold's fortunes. Global inflation & oil prices push gold's rise.
Where there is money, there is gold
The essential and irreplaceable function of gold in the global financial system is money. Gold exists in a relatively fixed supply and is the only currency that cannot be inflated at the discretion of political and economic advantages. It is a true store of wealth, unlike the paper currencies that can be created in unlimited quantities. Gold can be over or undervalued by investors at any point in time, but over the long-term, its purchasing power remains stable.
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| May 07, 2008 | | Rice is dear to us, Mr Bush!
In the new generation diplomacy, the US definitely occupies the most important place on Indian thinking wavelength but India is no sub-contractor of America in the global context wherein Uncle Sam can decide what and how much Indians should eat or not! US President George W Bush blaming the 'wealthy' lifestyle of India's huge middle class for the spiraling global food prices endorsing his Secretary of State Condeleezza Rice views only adds insult to the injury for Indians.
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| May 05, 2008 | | India may ban food futures trading
Speaking to reporters in Madrid, he said ''The pressure is to suspend a few more food articles, If rightly or wrongly people perceive that commodities- futures trading is contributing to a speculation-driven rise in prices, then in a democracy you will have to heed that voice''.
Real facts behind food crisis
According to USDA estimates, the US accounted for an average of 11.5 percent of world exports of rice for calendar years 2004 through 2007 and is projected at 12.7 percent for 2008. US exports will increase to 3.5 million metric tons while world total exports decline to 27.5 MMT. The largest rice exporter is Thailand at 9.0 MMT for 2007/08, 32.7 percent of world exports, down 0.5 MMT from 2006/07 and up from 7.3 MMT in 2004/05 and 2005/06.
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| May 02, 2008 | | 'Wanna beat rice crisis, go for sweet potatoes'
In a recent call to Filipinos, president Arroyo said they should boil rice with sweet potatoes or they should go for cheaper cereals to avoid going hungry as rice prices soared to record levels. "This is a once-a-millennium global crisis. We have an action plan," Arroyo said, noting that residents of the central island of Cebu are already using cheap sweet potatoes to beat the crisis.
Is Exxon on a sticky wicket?
According to reports, the world's biggest energy group announced a first-quarter record profit of $10.9 billion but its oil production fell almost 10 per cent in the first three months of the year. Moreover, its refining profits also slumped. Reports said that the company's broader market rallied, but Exxon shares fell 3.6 per cent to $89.70.
Indians, don't eat! Let US eat well!
Last year, India's food consumption increased almost 5 per cent considering that it had 7 plus GDP growth. India consumes more edible oil than any other country in the world. Most of the staple diet of many countries are soybeans, maize, rice, wheat etc. Many readers have complained that Rice's statement was taken out of context to sensationalize. Here is what happened.
Eat less, feed the world : Rice tells India and China
And she has blamed the 'growing Indian and Chinese appetite in contributing to the global food crisis'. The US Secretary of State is technically correct since both the countries dominate the world food consumption. But analysts feel she is morally and socially wrong.
Another Green Revolution or people will starve
World food prices have been rising since 2000, but this sped up slightly in 2007, then sharply in early 2008. High prices have hit the urban poor especially hard, and led to food shortages, riots and demonstrations worldwide. IRRI is part of the Consultative Group on International Agricultural Research, a network of international agricultural research institutes started in the 1960s.
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| April 30, 2008 | | 'Futures trading is not responsible for inflation'
The Indian government on Tuesday released the report from a Committee that studied the impact of futures trading on agricultural commodity prices. The Committee under chairmanship of Prof. Abhijit Sen, Member, Planning Commission was appointed on 2nd March, 2007.
Expect biofuel from grass soon!
In an effort to produce biofuel from a variety of elephant grass, Monsanto Co of Creve Coeur and Mendel Biotechnology Inc are joining hands. According to the two companies, Monsanto will lend its crop-testing, breeding and seed-production expertise to the Bioenergy Seeds & Feedstocks unit of Mendel, based in Hayward, California.
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| April 29, 2008 | | Carat: It's different for gold and diamonds
In today's world if the diamond is over one carat in size it will usually come with a certificate from the laboratory specifying the inclusions, color and size. The carat itself is made of one hundred particular parts called points. While it is possible to estimate the weight of a mounted diamond, the lab uses ultrasensitive scales to achieve an exact weight, measured 3 decimal places, although the third decimal place is not usually mentioned at the retail level.
HUL at 75, to decrease C02 emissions, help farmers
HUL has recently developed a new process of manufacturing soap based on 'Plough Share Mixer' technology which eliminates the need for steam in soap making. The new technology cuts carbon emissions by 15,000 tons per year and HUL has been awarded carbon credits for this under the Clean Development Mechanism scheme operated by the United Nations Framework Convention on Climate Change.
All about India's derivatives markets
The first leap towards an organized derivatives market came in 1848, when the Chicago Board of Trade, the largest derivative exchange in the world, was established. Today, equity and commodity derivative markets are rapidly gaining in size in India. In terms of popularity too, these markets are catching on like a forest fire.
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| April 24, 2008 | | India: 3rd largest steel producer in 2013
India is poised to be the 3rd largest steel producer by 2013. Strong local demand and global fundamentals will drive Indian steel output to 100mn ton from 53mn ton in 2007. Steel demand is expected to grow 4-5% over next 4 years despite recessionary conditions in the US due to rising share of emerging countries in global GDP. According to Goldman Sachs, global steel supply will continue to remain tight in 08. Indian steel consumption has grown from 3.4% in FY02 to 11% in 07.
Gold responds to falling oil, rising dollar
Gold prices came under renewed selling pressure in the pre-New York opening hours on Wednesday morning, this time responding to a declining crude oil and rising US dollar value. Values quickly fell towards the lower $900's as participants continued to be frustrated by the metal's recent lack of response to outside drivers and by investor apathy. The current pause is still seen as a period of consolidation and the risk of a breach of the $900 level remains in place.
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| April 23, 2008 | | Will the world embrace jatropha revolution?
The desperation in countries like the United States is turning into forlornness. History says that whenever the West gets desperate enough over any festering issue, they find a solution. The discovery of penicillin is the product of such desperation. With this level of hopelessness, it will not be surprising if the world is seeing the last days of the lordship of the almighty crude oil.
Doubt looms over MFs, banks entry into futures
The decision of the US regulator not to allow financial institutions any further increase in their exposure to commodity futures leaves a question mark on the proposal to allow MFs and banks to trade in commodity futures in India. In India if mutual funds, banks, NRI's and Foreign Institutional Investors (FIIs) are allowed there should be limits fixed by the regulator regarding exposure to commodities. The price discovery function can happen only if there is liquidity.
Holding gold is the best investment now
Gold is playing a decisive role in the present economic scenario as inflation and recession have eaten the vital parts of every country's economy. Most investors prefer to invest their money in gold these days. Most traders think that this is the good time to squeeze maximum benefit from the collapsing economy. With the markets now concerned about inflation, gold has posted its credentials separately from its role as a mitigator of financial and political risk.
Why oil reserves are depleting
The term peak oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion. Cumulative production is the sum of all oil that has ever been produced until a specific date. Cumulative production can be given for a field, oil basin, country or the world. Decline rate refers to production only. Depletion differs from the decline rate as it takes into account the amount of oil left.
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| April 22, 2008 | | How long will India's petroleum reserves last?
In India, petroleum consumption is increasing at a very steep rate from 3.5 MMT in 1950-51 to 74.7 MMT in 1995-96. This is expected to reach 130 MMT in 2001-2002 and 175 MMT in 2006-2007. This fact, coupled with the present and expected consumption rates, implies that these reserves may not last beyond the next 30 years. Therefore, the need of the hour is to conserve petroleum by its judicious use, substituting it by other resources wherever feasible and restricting its use.
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| April 19, 2008 | | How far is OPEC responsible for oil rally?
OPEC expects an additional daily average output growth of 1.2 million barrels or a daily average oil output of 87 million barrels in 2008. The OPEC output quota this year will be less than 32 million bpd and non-OPEC output would be about 50.3 million bpd, according to a report . OPEC's actual production will be higher than the quota but that will not be sufficient to coverup the demand-supply imbalance in the international market.
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| April 18, 2008 | | Beware! Global wheat stock is just vanishing
Wheat is among the planet's most important food crops, but it has a natural enemy that can turn the crop into a black tangle of broken stems. Cornell University hopes a new $26.8 million grant can help them combat the emergence of deadly new strains of rust disease and help avert a pandemic that could produce catastrophic wheat crop losses worldwide.
Gold is a safe bet in recession: WGC
The only element of demand for gold likely to be affected by a recession is investment demand, "but that in turn will depend on the 'type' of recession,". Recessions can be bad for commodity prices, as consumer and business confidence falls, demand for goods and services is cut, weighing on demand for raw materials and depressing prices.
Go for hybrid rice, feed the world
The International Assessment of Agricultural Science and Technology for Development stopped short of an explicit global action plan, but highlighted several options that leaders throughout the public and private might consider in an effort to assure affordable food is produced in a sustainable manner. The report said agricultural knowledge, science and technology alone cannot solve problems "caused by complex political and social dynamics"
Who is responsible for rise in oil prices?
OPEC, which has oil reserves that constitute 80 percent of the total global reserves, is unwilling to increase output to bring down oil prices. This makes OPEC too responsible for the rising oil prices, apart from the weak dollar. OPEC has said that world oil demand this year is forecast to grow by 1.2 million barrels daily to an average of 87 million barrels per day. As OPEC's output remains insufficient to cover rising demand from Asian region, oil prices will tend to rise.
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| April 17, 2008 | | Why crude oil is on fire
Gold prices took off for higher ground overnight as the divergent oil and dollar fueled additional speculative interest in the metal.
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| April 16, 2008 | | Gold, silver will face short term decline
Forecasters are bullish on gold in long term but for the short term, this market may have some more work to the downside. Normally, gold and silver are the destination of a 'flight to quality' during nervous markets, but that was not the case last month. The gold and silver markets fell in the final week of the commodity decline. Gold surpassed the $1000 mark briefly, but fell to the deflationary forces by declining $100 before recovering in the last full week of March.
Food, gold dearer; currency slipping
All over the world, food riots are breaking out. Not because there is too much food or too little, but because it has gone way up in price. Worldwide inflation of food prices is a monetary phenomenon, not an agricultural phenomenon. With bread prices on the rise, politicians feel compelled to intervene. And every intervention falls upon the crops like a cloud of locusts. The price of rice rose 50% in the last two weeks, causing nations to make a run for rice.
Farmers, mend your ways or perish: Study
If the world wants to tide over the present crisis, the farmers must shift their agriculture methods to confront soaring food prices that threaten to drive millions of poor people around the world into even deeper poverty. Basic foodstuff prices have all risen sharply in recent months, sparking violent protests in many countries. Unesco attributed the trend to increased demand in emerging market powerhouses China and India and alternative use of corn and soybeans for biofuels
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| April 15, 2008 | | 'Gold prices to stabilise at $850-950'
Gold fell to, and held near-term support at $914.00 in overnight trading in Asia before turning higher in the morning hours, ahead of the New York opening. New York spot trading opened with gold at $ 926, up $ 1.20 as players watched the dollar dropping under 71.60 on the index, and crude oil rise to just above $ 111 per barrel. Silver was down 6 cents on the open, quoted at $17.68 but the noble metals took a harder fall. Platinum lost $48 at $1960.00 & palladium dropped $13.
Commodity exchanges reel under CTT impact
The commodity transaction tax (CTT) proposal has started taking its toll on commodity exchanges. According to exchange officials, the turnover of commodity bourses has dropped sharply on transaction tax proposal and reports that the government may ban Futures trading of more commodities. The turnover may get eroded by another 20-30% once CTT comes into effect. CTT was unique and it has not been imposed on any Futures market anywhere in the world.
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| April 14, 2008 | | Watch oil, listen to Bernanke, and follow the dollar
The dollar touched a new all-time low vis-a-vis the euro and sank to 71.50. Europe's inflation rate touched 2.9% as crude oil prices also rose. Gold prices were pushed skywards in the fourth quarter of 2007. Silver gained 4 cents to $18.21, while platinum rose $10 to $2036 per ounce. In such a scenario , senior analyst, Kitco Bullion Dealers Montreal, advises investors to watch oil, listen to Trichet and Bernanke, and follow the dollar.
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| April 11, 2008 | | NCDEX launches CER carbon credit futures
In a significant development, India's National Commodity & Derivatives Exchange Limited on Thursday launched its futures contract for Certified Emission Reduction. Forward Markets Commission, chairman, B. C. Khatua inaugurated the launch at NCDEX Exchange Platform. The CER contract of NCDEX will be traded in multiples of one lot of 500 CERs each.
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| April 10, 2008 | | CTT: A fatal blow to commodity futures
Even as experts were debating pros and cons of the waiver, came the first-ever announcement in the history of commodity markets anywhere in the world the introduction of Commodity Transaction Tax and this, coupled with service tax imposed on commodity exchanges, was a blow to the nascent commodity Futures industry in the country.
Food prices to rise further?
If you are already cribbing about that rising food bill, there is more bad news in store for you. If the World Trade Organisation's present negotiations are any indication, the farm subsidy is going to end soon and that will further trigger increase in global foodgrain prices, making cereals costlier for several nations.
Food processing: New era in the Indian economy
The food processing sector in the country with its vast potential has emerged as one of the major driver of economic growth. It is encouraging to note that while the country's GDP growth rate had increase from 3.5 per cent in 2002-03 to 9 percent in 2006-07, the food processing sector has grown from 7 per cent to 13.1 per cent during the same period. India is a country of over 1.10 billion consumers, there is a large untapped domestic market of 1,000 million consumers.
Chandigarh to be 1st Solar City of India
The UT has already issued requisite directives to all the officers to start preparations for achieving the 'Solar City' target within the stipulated time frame. The administration said people should accept that they are in the middle of climate change and the frequency of natural disasters is increasing at an alarming pace.
Why are rice prices shooting up?
In a research note, Standard Chartered Bank said continuing concerns over exportable surpluses should keep rice prices above $20 per quintal for most of the year. Among the concerns are export restrictions that could potentially increase inflationary pressures in importing countries that have few substitutes for rice. When the new crop arrives from Thailand it will exert downward pressure on prices.
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| April 09, 2008 | | US dollar is a flawed currency: Rogers
Legendary investor Jim Rogers says the US dollar is a terribly flawed currency. He says the United States' foreign debts are increasing at the rate of $1 trillion every 15 months. He found defects in the workings of Federal Bank. The bank's mandate was to have a sound currency, and then it was later expanded to help employment. But under Bernanke's leadership, the Federal Bank is busy bailing out investment banks and Wall Street. He is getting all his money out of US dollar.
Will IMF gold sale hit bullion market?
According to IMF, the body is planning to raise $6bn by selling 12.97 mn ounces of gold, about 12% of the total holdings it has. IMF officials said the sale would likely take place over several years in an effort to avoid market disruption. The news of the IMF decision will most probably affect the bullion market. It is a fundamental step that will enable IMF to remain an independent, astute and dynamic international organisation. It will put IMF on solid financial footing.
Loan waiver: Distressed farmers are not celebrating
Farmers of Punjab are not celebrating the farm loan waiver yet, viewing the loan waiver as a 'temporary crisis management measure' by political parties ahead of an impending election. Going by National Sample Survey Organisation's (NSSO) figures, every farmer household in India was having an average outstanding loan of Rs 1,258. In Punjab, it was the highest at Rs 41,576 (December 03 figures). The recovery rate of institutional loan in Punjab was 85%, highest in the country.
India's gold dagger set for record auction
A gold-encrusted dagger once carried by the builder of the Taj Mahal is expected to fetch some 500,000 Euros at an auction this week, says a report from the World Gold Council web site. The artefact, which was once held by the Mughal Emperor Shah Jahan, is being auctioned at Bonhams on Thursday. The gold-encrusted dagger is part of the collection of Indian and Islamic art & artefacts owned by Jacques Desenfans, who spent more than 50yrs collecting historical & cultural items.
Gold is a hedge against declining US dollar
Gold has always served as a hedge against inflation and declining US dollar. When investors realise that their money is losing value they will start positioning their investments in a hard asset that has traditionally maintained its value. The reason gold benefits from a declining US dollar is because gold is priced in US dollars globally. Whenever there is news that hints at some type of uncertainty, investors will often buy gold as a safe haven & as diversifying investment.
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| April 08, 2008 | | India's spectacular story in petroleum refining
India has witnessed a spectacular growth in the refining sector over the years. Today, there are 14 refineries in the country, 13 in the public sector and one in the joint sector, with an install capacity of 60.4 million tonnes per annum. Presently India is undergoing major economic and industrial reforms for integrating its economy with the global economy. In the liberalised scenario, the hydrocarbon sector has been identified as one of the main areas of the focus.
BRIC nations: Heroes of 2050
Goldman Sachs Investment Bank in a paper in 2003 argued with facts, figures and importantly optimism that the economic potential of BRIC nations is such that they may become among the four most dominant economies by the year 2050. The foreign ministers of BRIC nations will meet in Moscow in Spring 2008 to discuss issues of mutual interest in the international arena. The BRIC countries account for about 40% of the world population & each country has its own unique advantages.
Despite rain loss, govt sure of wheat target
The Central government is certain that the country will meet the wheat production target for 2008-09., inspite of the hailstorms that destroyed standing crops. According to data provided by officials, wheat crops in around 100,000 hectares of land have been damaged in Haryana itself after the recent hailstorms. The exact loss was being assessed and a special revenue assessment will be ordered later. But govt said wheat production estimate remains unchanged at 74.81 mn tonnes.
Can Indian steel prices be at par with China?
Industry experts insist that rising steel prices are triggered by rising input cost like scrap, iron ore and coking coal. The current international pricing scenario demands a prices increase domestically. The rising raw material costs and other available inputs as well as limited capex resources have driven the steel prices. The government has been taking steps to control prices by increasing the export duties on some commodities and even banning exports on some.
Commoditiy derivatives: All about options
Option is a contract that conveys the right, but not the obligation, to buy or sell a particular item at a certain price for a limited time. Only the seller of the option is obligated to perform. An option gives the right but not the obligation to buy (call option) or sell (put option) an underlying commodity or financial instrument at a specified price (exercise price or strike price) by or at a certain date in the future. The underlying instrument is usually the commodity.
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| April 07, 2008 | | What Dell can teach India's IT firms
While Indian IT majors are still far away from waking up to the looming threat of global warming, Dell is seriously converting to green power. Moreover, several India firms are still to make a serious effort to tackle the e-waste whereas Dell is now powering 100 per cent of its 2.1 million sq ft global headquarters campus, home to more than 10,000 employees, with green power.
'India offers the biggest investment opportunity'
Today's smartest investors are asking about India, not China. India has seven times more impact on the US than China! Smart investors know that Indian companies' return on equity is 21 per cent compared with 10 per cent for China.
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| April 05, 2008 | | Gold can purify drinking water
According to news article posted on the World Gold Council web site, gold nanoparticles ten thousand times smaller than a human hair could be used to break down chemicals in drinking water and reduce pollution. It said the particles, which mix gold and palladium, are the creation of engineer Michael Wong from Rice University in Houston, Texas.
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| April 04, 2008 | | Recession: European economy is also slowing down
The consumer price index was estimated as being up 3.5 per cent in March from a year ago, the biggest increase in 15 years. On June 6, 2007, the European Central Bank raised its key interest rate from 3.75 pe cent to 4.00 per cent, the highest level in almost four years. In terms of economic freedom, old Europe still lags behind. The Heritage Foundation has the three largest economies, Germany, France, and Italy, ranked 19th, 45th, and 60th respectively in the world.
American economy is caught in a whirlwind
With Europe focusing still on price stability (i.e. inflation), the weaker economies of Europe are taking the strain as the Euro rises on the currency markets. Stronger nations like Germany are doing well internationally, so they are affected far less by a strong Euro than weaker states such as Spain, Greece and Ireland. This was reflected in the 9 per cent growth in Japanese exports last month, which saw 15 per cent growth in trade with China alone.
'I am sure Gold is headed for $1650'
In times like these I invite you to put your non-margined hand in my totally confident hand. Be calmed as we walk the wildness of the gold market to $1650. I know gold is headed for $1650. If that is not enough for you today, then please allow me to demonstrate my commitment to my view of the gold price.
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| April 01, 2008 | | US unveils plans to arrest economic turmoil
The short-term recommendations include improvements to regulatory coordination and oversight that regulators can make quickly. The blueprint recommends creating a new federal commission for mortgage origination to protect consumers better. The report also recommends modernizing the President's Working Group on Financial Markets and clarifying the Federal Reserve's liquidity provisioning.
CTT on commodity futures not viable
In a memorandum to the Finance Minister, the exchanges said that FM's proposal to impose the Commodities Transaction Tax (CTT) will ruin the budding commodity futures business in India. In its arguments, it said CDM is at a nascent stage. It is only 4 years old. Participation of banks, mutual funds, FIs, FIIs is still not allowed. Options contracts, index futures & futures based on intangibles are still to come. Cost increase in India will induce hedgers to global exchanges.
Markets: What the stars foretell
As per financial astrology, bulls may now show their strength in stock, commodity market. Upward movement is expected to begin with Asian market followed by European and US stock markets. Therefore, investors are advised to invest in A grade stocks: metal, ifrastructure, oil and gas, telecommunications, automobile, FNGC, power. For heavy engineering, apex financial institutions, they should have 30 days' investment view.
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