The Google AJAX Feed API's got a small addition today in the form of the Dynamic Feed Control.
It is a control that expands on the base FeedControl and allows user's to embed multiple feeds for convenient display on their webpage. It offers several layouts, including our popular horizontal layout similar to the NewsBar, and also two forms of vertical layout. You have access to the full source code. We include default CSS styling, but all of this can be changed to suit your needs. We have also supplied a full programming guide, a wizard for easy setup, and it exists as an iGoogle Gadget so you can add it to your iGoogle homepage.
Saturday, April 12, 2008
Direct Access to YouTube Channels
This morning, we made an update to the AJAX Search API that provides you with direct access to YouTube Channels, Most Viewed Videos, Top Rated Videos, and Recently Featured Videos.
As millions of you have already discovered, our insanely popular Video Bar Control is a great way to showcase your favorite videos on your site. Using this new feature, you will be able to "subscribe" a Video Bar to the lonelygirl15 channel, the Most Viewed YouTube Videos Channel, or any combination of channels and search expressions.
As part of this update, the Video Bar Wizard has been modified to make it very easy for you to configure a Video Bar with a mix of channels and search expressions. In addition, the control has been updated to include a new player style and location. This lets you continue to have multiple Video Bars all over your pages while ensuring that the player is always positioned very close to the Video Bar.
If you have an existing Video Bar on your site and just want to modify it in place to take advantage of the new features, take a look at the updated reference guide. What you will find in the reference guide is pretty straight forward:
A query expression of ytchannel:fordmodels will access the fordmodels channel
A query expression of ytfeed:most_viewed will access the Most Viewed YouTube Videos
A query expression of ytfeed:top_rated will access the Top Rated YouTube Videos
A query expression of ytfeed:recently_featured will access Recently Featured YouTube Videos
All of the ytfeed: based expressions also accept time modifiers of .today, .this_week, .this_month, or .all_time. For example, the search expression ytfeed:most_viewed.this_month provides access to the Most Viewed YouTube Videos this month.
We, along with the YouTube team are excited to be able to deliver these features to you and hope that they meet your needs. Make sure to let us know what you think by posting a message or two in our developer forum.
While I have your attention, and while we are discussing Video, I'd like to also show you some clever things that you can do with video that is not hosted on YouTube. One of our good customers, The Real News Network, in addition to their YouTube Channel, has a large collection of high quality video that is exposed via an RSS Feed. Using the AJAX Feed API in conjunction with the Slide Show Control, multimedia developer Allen Booth has built a very compelling Gadget. Try out the gadget on your Google Personalized Home Page. Note how it uses the Slide Show control to show off the high quality video thumbnails present in the feed, and that when you click on a thumbnail, the associated video will play in place using a custom and highly optimized video player. In future posts, we will take a deeper look at this approach.
Update: Something important that I forgot to mention in this post... The new functionality we are delivering today is based in part on the YouTube Data API, part of the large and growing family of GData APIs.
As millions of you have already discovered, our insanely popular Video Bar Control is a great way to showcase your favorite videos on your site. Using this new feature, you will be able to "subscribe" a Video Bar to the lonelygirl15 channel, the Most Viewed YouTube Videos Channel, or any combination of channels and search expressions.
As part of this update, the Video Bar Wizard has been modified to make it very easy for you to configure a Video Bar with a mix of channels and search expressions. In addition, the control has been updated to include a new player style and location. This lets you continue to have multiple Video Bars all over your pages while ensuring that the player is always positioned very close to the Video Bar.
If you have an existing Video Bar on your site and just want to modify it in place to take advantage of the new features, take a look at the updated reference guide. What you will find in the reference guide is pretty straight forward:
A query expression of ytchannel:fordmodels will access the fordmodels channel
A query expression of ytfeed:most_viewed will access the Most Viewed YouTube Videos
A query expression of ytfeed:top_rated will access the Top Rated YouTube Videos
A query expression of ytfeed:recently_featured will access Recently Featured YouTube Videos
All of the ytfeed: based expressions also accept time modifiers of .today, .this_week, .this_month, or .all_time. For example, the search expression ytfeed:most_viewed.this_month provides access to the Most Viewed YouTube Videos this month.
We, along with the YouTube team are excited to be able to deliver these features to you and hope that they meet your needs. Make sure to let us know what you think by posting a message or two in our developer forum.
While I have your attention, and while we are discussing Video, I'd like to also show you some clever things that you can do with video that is not hosted on YouTube. One of our good customers, The Real News Network, in addition to their YouTube Channel, has a large collection of high quality video that is exposed via an RSS Feed. Using the AJAX Feed API in conjunction with the Slide Show Control, multimedia developer Allen Booth has built a very compelling Gadget. Try out the gadget on your Google Personalized Home Page. Note how it uses the Slide Show control to show off the high quality video thumbnails present in the feed, and that when you click on a thumbnail, the associated video will play in place using a custom and highly optimized video player. In future posts, we will take a deeper look at this approach.
Update: Something important that I forgot to mention in this post... The new functionality we are delivering today is based in part on the YouTube Data API, part of the large and growing family of GData APIs.
Search Result Limit Increase
Early this morning we turned on a highly requested feature... The AJAX Search API now supports up to 32 search results as well as pagination through result sets. I understand that this might not match everything that you have been asking for, but at this point in time, delivering a 4x increase in the number of available search results is all that we are able to support.
You can see the new code in action in all of our samples that are based on the default search control:
Tabbed Hello World (web, news, and book tabs)
Custom Search Engine Sample
etc.
The pagination logic is built into the default search control. If you like to code your own search control, we have updated the Raw Searcher sample with a few lines of code that implements result pagination.
For a number of complex reasons, this feature is not implemented in Blog Search or in Local Search.
You can see the new code in action in all of our samples that are based on the default search control:
Tabbed Hello World (web, news, and book tabs)
Custom Search Engine Sample
etc.
The pagination logic is built into the default search control. If you like to code your own search control, we have updated the Raw Searcher sample with a few lines of code that implements result pagination.
For a number of complex reasons, this feature is not implemented in Blog Search or in Local Search.
The PartnerBar - Contextual Cross Linking
A few weeks ago, our team received a call from the Executive Producer of EW.com, the online extension of Entertainment Weekly Magazine. She asked if our Feed API could be used to build a module that they could configure to promote and link to their partner's sites. The result of that phone call is our brand new PartnerBar control.
Working closely with the Executive Producer and production staff, we developed the control to meet the demanding needs of EW.com's site while ensuring that the same code and model could support the rest of the Time Inc. network, as well as the network of sites you are likely to care about. The result is a professional level component that gives the design team complete control over all aspects of styling and site integration and delivers a widely used control at a very low integration cost.
Looking around the web, we see many sites using a wide variety of technologies to provide functionality that is similar to our AJAX based PartnerBar. Depending on a site's architecture and infrastructure, these modules can be somewhat expensive to build, test, maintain, and extend. Sometimes there are cron jobs that have to be run to pull and process partner feeds, sometimes there are back end code and templates that need heavy changes, etc. The PartnerBar that we built is coded as an AJAX control and as a result, it's typically very easy to integrate onto your site, requiring the resources of your HTML team and designers, but not your back end team. At this level of the stack, integrations are typically very efficient in terms of both time and impact on related infrastructure. They are able to take a control like our PartnerBar and go from idea to live in a matter of hours. Our team's design standard: "If you can tweak your HTML template, you can have the PartnerBar (or VideoBar, NewsBar, SlideShow, etc.) up in minutes."
Working closely with the Executive Producer and production staff, we developed the control to meet the demanding needs of EW.com's site while ensuring that the same code and model could support the rest of the Time Inc. network, as well as the network of sites you are likely to care about. The result is a professional level component that gives the design team complete control over all aspects of styling and site integration and delivers a widely used control at a very low integration cost.
Looking around the web, we see many sites using a wide variety of technologies to provide functionality that is similar to our AJAX based PartnerBar. Depending on a site's architecture and infrastructure, these modules can be somewhat expensive to build, test, maintain, and extend. Sometimes there are cron jobs that have to be run to pull and process partner feeds, sometimes there are back end code and templates that need heavy changes, etc. The PartnerBar that we built is coded as an AJAX control and as a result, it's typically very easy to integrate onto your site, requiring the resources of your HTML team and designers, but not your back end team. At this level of the stack, integrations are typically very efficient in terms of both time and impact on related infrastructure. They are able to take a control like our PartnerBar and go from idea to live in a matter of hours. Our team's design standard: "If you can tweak your HTML template, you can have the PartnerBar (or VideoBar, NewsBar, SlideShow, etc.) up in minutes."
Calling all JavaScript developers: Hack the Day Away with Google
Google will be hosting a hackathon at the Mountain View campus on Friday, February 29th from 2pm until 10pm. The hackathon will be covering multiple JavaScript APIs, including our AJAX Search/Feeds APIs. There will be some quick introductions to the APIs, then we'll get you guys coding with our APIs (bring your laptops!).
This is a great chance to learn a bit about APIs you haven't played with and to ask more advanced questions about the ones you love. You'll also have the chance to meet some of the product engineers who create these APIs as well as win prizes and shwag.
This is a great chance to learn a bit about APIs you haven't played with and to ask more advanced questions about the ones you love. You'll also have the chance to meet some of the product engineers who create these APIs as well as win prizes and shwag.
gearsAJAXHelper: Use Google Gears with AJAX APIs for Faster Queries
Google Gears is an API that is known for giving developers the ability to have their webpage viewable offline. However, it can also be used to speed up your website. In the case of the AJAX APIs, you can use the Google Gears local cache and client-side database to have queries load fast with cached data while requests for fresh data are done in the background.
We decided it would be cool to write a small library to make it easy for you AJAX APIs developers to write quick-loading, always fresh searches/feeds. The gearsAJAXHelper has two main features - it allows you to store and return key/value pairs from the local database, and it allows you to choose whether you want all resources files on the page (images, CSS, Javascript, HTML) to automatically be cached in the Gears cache.
The key/value pair database feature let's you store the query/results as a key/value pair. Then, the next time the query is made, the results can be served from the database while fresh results are being retrieved. This dramatically reduces the latency in queries/feed grabs.
The (optional) automatic cacheing of resource files will make it so that each time the user visits your webpage they will be getting resources served from their Google Gears cache, not new versions from the internet. Be careful when using this feature, as you might not want stale content to be served. There is also a refresh function, to clear the Google Gears cache of old files.
Here is a sample application that uses the gearsAJAXHelper to quick-load feeds. Notice that after you have clicked on a candidate (or state) once, the next time you click it will quick-load the results. If the results in the database are stale, you will see fresh results populate the content area. Here's how the gearsAJAXHelper library is used in this code:
gearsAJAXHelper.initialize("election", "election", false);
This initializes the library. The first two parameters you pass in are what you want the name of the Gears LocalServer ResourceStore and Gears Database to be named, respectively. The third parameter specifies whether you want your page's resources to be automatically cached.
Then there are just three other main calls that are used:
gearsAJAXHelper.storeKeyVal(key, value);gearsAJAXHelper.returnKeyVal(key);gearsAJAXHelper.refresh();
When you make any requests, store the results using gearsAJAXHelper.storeKeyVal(key, value). Use the query/feed address as the key, and the results as the value. In the case of the Presidential Application, in the NewsBox.prototype.searchComplete function I wait until the results have been turned into the desired HTML, then I store that as the value and the query as the key.
The NewsBox.prototype.loadNewsBox function is called before any search is executed. In here, I use gearsAJAXHelper.returnKeyVal(key) to check if the query has been done before - if it has we will use the HTML returned. This should be a near-instantaneous operation. Immediately after, I execute the search we would have done so that when it completes fresh results will be served. If the database doesn't have the key/value pair stored, then we will execute the query as normal.
In some cases, you might want to clear the database of old entries as well as clear the Gears LocalServer cache - use the gearsAJAXHelper.refresh function for this.
We decided it would be cool to write a small library to make it easy for you AJAX APIs developers to write quick-loading, always fresh searches/feeds. The gearsAJAXHelper has two main features - it allows you to store and return key/value pairs from the local database, and it allows you to choose whether you want all resources files on the page (images, CSS, Javascript, HTML) to automatically be cached in the Gears cache.
The key/value pair database feature let's you store the query/results as a key/value pair. Then, the next time the query is made, the results can be served from the database while fresh results are being retrieved. This dramatically reduces the latency in queries/feed grabs.
The (optional) automatic cacheing of resource files will make it so that each time the user visits your webpage they will be getting resources served from their Google Gears cache, not new versions from the internet. Be careful when using this feature, as you might not want stale content to be served. There is also a refresh function, to clear the Google Gears cache of old files.
Here is a sample application that uses the gearsAJAXHelper to quick-load feeds. Notice that after you have clicked on a candidate (or state) once, the next time you click it will quick-load the results. If the results in the database are stale, you will see fresh results populate the content area. Here's how the gearsAJAXHelper library is used in this code:
gearsAJAXHelper.initialize("election", "election", false);
This initializes the library. The first two parameters you pass in are what you want the name of the Gears LocalServer ResourceStore and Gears Database to be named, respectively. The third parameter specifies whether you want your page's resources to be automatically cached.
Then there are just three other main calls that are used:
gearsAJAXHelper.storeKeyVal(key, value);gearsAJAXHelper.returnKeyVal(key);gearsAJAXHelper.refresh();
When you make any requests, store the results using gearsAJAXHelper.storeKeyVal(key, value). Use the query/feed address as the key, and the results as the value. In the case of the Presidential Application, in the NewsBox.prototype.searchComplete function I wait until the results have been turned into the desired HTML, then I store that as the value and the query as the key.
The NewsBox.prototype.loadNewsBox function is called before any search is executed. In here, I use gearsAJAXHelper.returnKeyVal(key) to check if the query has been done before - if it has we will use the HTML returned. This should be a near-instantaneous operation. Immediately after, I execute the search we would have done so that when it completes fresh results will be served. If the database doesn't have the key/value pair stored, then we will execute the query as normal.
In some cases, you might want to clear the database of old entries as well as clear the Gears LocalServer cache - use the gearsAJAXHelper.refresh function for this.
Introducing the latest AJAX API: Google Visualization API
We are excited to launch the Google Visualization API, a new API designed for visualizing structured data. The API adds the ability to send queries to data sources and process the response. The first data source that already supports this API is Google Spreadsheets. We are also launching a set of visualization gadgets that use this API.
With this API, you can read data from a data source that supports the API. You can read an entire table, or you can run a query on the data source using the API's query language. The query response is an easy to process data table designed to simplify data visualization. It includes both the underlying values and the formatted values, column types, headers and more.
Use this API to create your own data visualization that is decoupled from data source implementation.
The API is loaded using the Google AJAX API loader: google.load("visualization", "1");
Every data source is identified by a URL. For example, each spreadsheet has it's unique data source URL. Using the google.visualization.Query class, you can run a query on the data source:
var q = new google.visualization.Query(DATA_SOURCE_URL);q.send(responseHandlerCallback);
Use the query language to select specific columns, filter rows, aggregate values and more.
var q = new google.visualization.Query(DATA_SOURCE_URL);q.setQuery("select A, sum(D) group by A");q.send(responseHandlerCallback);
With this API, you can read data from a data source that supports the API. You can read an entire table, or you can run a query on the data source using the API's query language. The query response is an easy to process data table designed to simplify data visualization. It includes both the underlying values and the formatted values, column types, headers and more.
Use this API to create your own data visualization that is decoupled from data source implementation.
The API is loaded using the Google AJAX API loader: google.load("visualization", "1");
Every data source is identified by a URL. For example, each spreadsheet has it's unique data source URL. Using the google.visualization.Query class, you can run a query on the data source:
var q = new google.visualization.Query(DATA_SOURCE_URL);q.send(responseHandlerCallback);
Use the query language to select specific columns, filter rows, aggregate values and more.
var q = new google.visualization.Query(DATA_SOURCE_URL);q.setQuery("select A, sum(D) group by A");q.send(responseHandlerCallback);
Introducing the AJAX Language API - Tools for Translation and Language Detection
The AJAX Search and Feeds team is happy to announce a new member to their API family -- the Language API. This new API boasts two functions, language translation and language detection - which cover 13 languages and 29 translation pairs.
The best part? Using the API is simple. To begin, go ahead and add the script tag below to your page:
Next, load the API functions into the page with the AJAX API Loader:
google.load("language", "1");
Before we can start using those functions, though, we have to wait until the page is loaded. The AJAX APIs have a standard method for this that will call whatever function specified when the page has loaded:
google.setOnLoadCallback(onloadCallback);
Once in the onloadCallback function, we are ready to use either the translation or the language detection methods. To do a translation call, simply specify the text you would like to translate, the language you are translating from, the language you are translating to, and then a callback function. Here's what it looks like:
google.language.translate('Gato', 'es', 'en', function(result) { alert(result.translation);});
Here is the list of language name to abbreviations. When specifying a language, you can either use the enumeration to do them such as google.language.Languages['SPANISH'] or just write the string abbreviation 'es'. But what if you don't know what language your text is in? We've got you covered -- if you leave the language you are translating from blank then the API will auto-detect what language the text was written in.
You'll see that in the callback function, we receive a result object. The translation property is the word in the translated language. For a full list of properties returned in that object, check out the translation result reference.
The language detection method is quite similar:
google.language.detect('Questa linea di rilevare che questa è la lingua.', function(result) { alert(result.language);});
This line will detect what language "Questa linea di rilevare che questa è la lingua." is written in, and return the result to the callback function. In the callback I alert the answer, result.language. Here is the language detection result object reference. There are two other important properties that you should take note of -- isReliable and confidence. These will let us know how sure the language detector is.
All right, enough with the technical stuff, let's see these APIs in action...
Here are two simple Hello World applications:
Language Detection:
Translation:
And here's a fun mashup I made with the Language, AJAX Search, and Google Gadgets APIs. It's a game that has a list of nouns, and you have to translate the nouns to a given language. If you add this to your iGoogle homepage, you can change the settings so that it uses the AJAX Search API to grab image hints for you.
Language Learner
Gadgets powered by Google
The best part? Using the API is simple. To begin, go ahead and add the script tag below to your page:
Next, load the API functions into the page with the AJAX API Loader:
google.load("language", "1");
Before we can start using those functions, though, we have to wait until the page is loaded. The AJAX APIs have a standard method for this that will call whatever function specified when the page has loaded:
google.setOnLoadCallback(onloadCallback);
Once in the onloadCallback function, we are ready to use either the translation or the language detection methods. To do a translation call, simply specify the text you would like to translate, the language you are translating from, the language you are translating to, and then a callback function. Here's what it looks like:
google.language.translate('Gato', 'es', 'en', function(result) { alert(result.translation);});
Here is the list of language name to abbreviations. When specifying a language, you can either use the enumeration to do them such as google.language.Languages['SPANISH'] or just write the string abbreviation 'es'. But what if you don't know what language your text is in? We've got you covered -- if you leave the language you are translating from blank then the API will auto-detect what language the text was written in.
You'll see that in the callback function, we receive a result object. The translation property is the word in the translated language. For a full list of properties returned in that object, check out the translation result reference.
The language detection method is quite similar:
google.language.detect('Questa linea di rilevare che questa è la lingua.', function(result) { alert(result.language);});
This line will detect what language "Questa linea di rilevare che questa è la lingua." is written in, and return the result to the callback function. In the callback I alert the answer, result.language. Here is the language detection result object reference. There are two other important properties that you should take note of -- isReliable and confidence. These will let us know how sure the language detector is.
All right, enough with the technical stuff, let's see these APIs in action...
Here are two simple Hello World applications:
Language Detection:
Translation:
And here's a fun mashup I made with the Language, AJAX Search, and Google Gadgets APIs. It's a game that has a list of nouns, and you have to translate the nouns to a given language. If you add this to your iGoogle homepage, you can change the settings so that it uses the AJAX Search API to grab image hints for you.
Language Learner
Gadgets powered by Google
Come Meet the AJAX API Team Engineers at Google I/O on May 28-29 in San Francisco
We recently announced Google I/O, our largest developer event of the year. It takes place May 28-29 in San Francisco. The purpose of the event is to bring developers together to learn about and to discuss the latest web development technologies. Over the two days, Google engineers and other leading software developers will share their knowledge in breakout sessions, hands-on Code Labs, and Q&A at Fireside Chats.
This year's event features an entire track devoted to AJAX and JavaScript including a series of sessions on our AJAX APIs:
Spice up Your Web Apps with Google AJAX APIs
Advanced Gadget and UI Development Using Google's AJAX APIs
Visualize Your Data: Google Visualization API
Members of the AJAX API team will also be participating in a "Fireside Chat" where you get the chance to tell the team what you want, discuss issues and design decisions, and hear the team's thoughts on whatever you want to ask.
Visit the Google I/O Website to learn more and register. Space is limited, so be sure to make plans to attend now. We're excited to meet and interact with so many members of the developer community, and we hope to see you there in May.
If you can't make it to SF, we're still having a global Google Developer Day series. We'll be hosting Developer Days in a number of countries around the world. Look for an announcement with dates and locations soon.
This year's event features an entire track devoted to AJAX and JavaScript including a series of sessions on our AJAX APIs:
Spice up Your Web Apps with Google AJAX APIs
Advanced Gadget and UI Development Using Google's AJAX APIs
Visualize Your Data: Google Visualization API
Members of the AJAX API team will also be participating in a "Fireside Chat" where you get the chance to tell the team what you want, discuss issues and design decisions, and hear the team's thoughts on whatever you want to ask.
Visit the Google I/O Website to learn more and register. Space is limited, so be sure to make plans to attend now. We're excited to meet and interact with so many members of the developer community, and we hope to see you there in May.
If you can't make it to SF, we're still having a global Google Developer Day series. We'll be hosting Developer Days in a number of countries around the world. Look for an announcement with dates and locations soon.
Monday, April 7, 2008
Catch Up With Three AI Alums During Results Show Bookmark This
This Wednesday, April 2nd at 9:00pm EDT on FOX, Bucky Covington will return to "American Idol" in a taped interview from his new hometown of Nashville, Tennessee. He will update the show's 30 million viewers on the latest happenings since competing on season five, including the release of his debut CD. The segment also features fellow AI alums Phil Stacey and Bo Bice.
Bucky is also excited to celebrate his second consecutive top 10 hit as "It's Good To Be Us" jumps four spots to #9 on the Country Aircheck/Mediabase chart. The song's music video includes a cameo by freestyle motocross champion Cowboy Kenny Bartram, and is currently on CMT and GAC's Top 20 countdown shows.
Bucky's self-titled CD released in April 2007 and opened at #1 on Billboard's Top Country Albums chart, with the biggest first week sales for any debut country artist that year. He wrapped 2007 as Country Aircheck's #1 New Artist based on the strength of his top 5 first single "A Different World" and his current hit, "It's Good To Be Us." Bucky is currently on tour with Dierks Bentley on the singer's "Throttle Wide Open" tour.
Bucky is also excited to celebrate his second consecutive top 10 hit as "It's Good To Be Us" jumps four spots to #9 on the Country Aircheck/Mediabase chart. The song's music video includes a cameo by freestyle motocross champion Cowboy Kenny Bartram, and is currently on CMT and GAC's Top 20 countdown shows.
Bucky's self-titled CD released in April 2007 and opened at #1 on Billboard's Top Country Albums chart, with the biggest first week sales for any debut country artist that year. He wrapped 2007 as Country Aircheck's #1 New Artist based on the strength of his top 5 first single "A Different World" and his current hit, "It's Good To Be Us." Bucky is currently on tour with Dierks Bentley on the singer's "Throttle Wide Open" tour.
The Song Choices of the Top 9 Bookmark This
With so many hits to choose from during Dolly Parton week, the Idols had their work cut out for them. They picked some great songs, and really seemed to have a blast with this week's theme. Check out the song choices below:
David Archuleta
"Smoky Mountain Memories"-Dolly Parton
David Cook
"Little Sparrow"-Dolly Parton
Jason Castro
"Travelin' Thru" -Dolly Parton
Michael Johns
"It's All Wrong, But It's All Right" - Dolly Parton
Brooke White
"Jolene" - Dolly Parton
Carly Smithson
"Here You Come Again" - Dolly Parton
Kristy Lee Cook
"Coat Of Many Colors" - Dolly Parton
Ramiele Malubay
"Do I Ever Cross Your Mind" - Dolly Parton
Syesha Mercado
"I Will Always Love You" - Dolly Parton
David Archuleta
"Smoky Mountain Memories"-Dolly Parton
David Cook
"Little Sparrow"-Dolly Parton
Jason Castro
"Travelin' Thru" -Dolly Parton
Michael Johns
"It's All Wrong, But It's All Right" - Dolly Parton
Brooke White
"Jolene" - Dolly Parton
Carly Smithson
"Here You Come Again" - Dolly Parton
Kristy Lee Cook
"Coat Of Many Colors" - Dolly Parton
Ramiele Malubay
"Do I Ever Cross Your Mind" - Dolly Parton
Syesha Mercado
"I Will Always Love You" - Dolly Parton
Idol Gives Back Tickets Bookmark This
American Idol is pleased to announce that there are just a few seats left for the taping of Idol Gives Back special this Sunday, April 6th at the Kodak Theatre.
The most recent announcement notes that the following stars are now scheduled to appear: Robin Williams, Celine Dion, Forest Whitaker, Billy Crystal, Dane Cook, Kiefer Sutherland, Vanessa Hudgens, Ashley Tisdale, Jennifer Connolly, Elliott Yamin, Fantasia and Amy Adams.
They join previously announced international talent and sports figures like Bono, Brad Pitt, Reese Witherspoon, Miley Cyrus, Mariah Carey, Eli Manning, Peyton Manning, Fergie, Chris Daughtry, Carrie Underwood, Annie Lennox, John Legend, Snoop Dogg, Maroon 5, Heart and Gloria Estefan.
The most recent announcement notes that the following stars are now scheduled to appear: Robin Williams, Celine Dion, Forest Whitaker, Billy Crystal, Dane Cook, Kiefer Sutherland, Vanessa Hudgens, Ashley Tisdale, Jennifer Connolly, Elliott Yamin, Fantasia and Amy Adams.
They join previously announced international talent and sports figures like Bono, Brad Pitt, Reese Witherspoon, Miley Cyrus, Mariah Carey, Eli Manning, Peyton Manning, Fergie, Chris Daughtry, Carrie Underwood, Annie Lennox, John Legend, Snoop Dogg, Maroon 5, Heart and Gloria Estefan.
Carrie Underwood Adds More Dates On Tour Bookmark This
Carrie Underwood’s headline tour, the “Carnival Ride Tour,” will continue with an additional run of shows in the month of June and will feature opening act, Jason Michael Carroll. The tour launched February 18 and all shows to date have been sell-outs.
Carrie wraps her co-headline dates with Keith Urban April 26 in Lexington, KY on the “Love, Pain, & The whole crazy Carnival Ride Tour” while Josh Turner, special guest on the “Carnival Ride Tour,” closes out his run of shows May 28.
Carrie’s current album, Carnival Ride, which contains her #1 co-written smash hits “So Small” and “All-American Girl,” was certified double-platinum within 2 months of its release. Her debut album, Some Hearts, was recently certified 7x-Platinum, becoming the best-selling solo female country debut in RIAA history. With this certification, Some Hearts now also surpasses all other releases as the all-time U.S. top-selling album by any American Idol contestant
Carrie wraps her co-headline dates with Keith Urban April 26 in Lexington, KY on the “Love, Pain, & The whole crazy Carnival Ride Tour” while Josh Turner, special guest on the “Carnival Ride Tour,” closes out his run of shows May 28.
Carrie’s current album, Carnival Ride, which contains her #1 co-written smash hits “So Small” and “All-American Girl,” was certified double-platinum within 2 months of its release. Her debut album, Some Hearts, was recently certified 7x-Platinum, becoming the best-selling solo female country debut in RIAA history. With this certification, Some Hearts now also surpasses all other releases as the all-time U.S. top-selling album by any American Idol contestant
Even More Celebs Added To Idol Gives Back Bookmark This
The Emmy Award-winning IDOL GIVES BACK returns with an illustrious group of celebrity participants to help raise awareness and funds to benefit various U.S. and international charities Wednesday, April 9 (7:30-10:00 PM ET/PT) on FOX. Robin Williams, Celine Dion, Forest Whitaker, Billy Crystal, Dane Cook, Kiefer Sutherland, Vanessa Hudgens, Ashley Tisdale, Jennifer Connolly, Elliott Yamin, Fantasia and Amy Adams join previously announced international talent and sports figures Bono, Brad Pitt, Reese Witherspoon, Miley Cyrus, Mariah Carey, Eli Manning, Peyton Manning, Fergie, Chris Daughtry, Carrie Underwood, Annie Lennox, John Legend, Snoop Dogg, Maroon 5, Heart and Gloria Estefan.
There are still a few tickets for the star-studded event that are currently on sale to the general public. The event will tape at the Kodak Theatre in Hollywood on Sunday, April 6. For more information, visit here.
The brainchild of Simon Fuller, IDOL GIVES BACK has been recognized as a life-changing program, earning praise from many of the world’s best known figures including President George W. Bush, HRH Prince Charles and British Prime Minister Gordon Brown. Last season, IDOL GIVES BACK raised over $76 million for charity and garnered a prestigious Governor’s Award Emmy.
During the show, viewers will be able to make donations via toll-free lines and the Internet. Money raised by the charity special will be distributed by IDOL GIVES BACK to the following beneficiaries: Children’s Defense Fund; The Children’s Health Fund; The Global Fund to Fight AIDS, Tuberculosis and Malaria; Make It Right; Malaria No More; and Save The Children’s U.S. Programs.
There are still a few tickets for the star-studded event that are currently on sale to the general public. The event will tape at the Kodak Theatre in Hollywood on Sunday, April 6. For more information, visit here.
The brainchild of Simon Fuller, IDOL GIVES BACK has been recognized as a life-changing program, earning praise from many of the world’s best known figures including President George W. Bush, HRH Prince Charles and British Prime Minister Gordon Brown. Last season, IDOL GIVES BACK raised over $76 million for charity and garnered a prestigious Governor’s Award Emmy.
During the show, viewers will be able to make donations via toll-free lines and the Internet. Money raised by the charity special will be distributed by IDOL GIVES BACK to the following beneficiaries: Children’s Defense Fund; The Children’s Health Fund; The Global Fund to Fight AIDS, Tuberculosis and Malaria; Make It Right; Malaria No More; and Save The Children’s U.S. Programs.
Jon Peter Lewis Breaks The Silence Bookmark This
Jon Peter Lewis is primed for a big-time breakthrough courtesy of his new full-length album, Break The Silence.
The new album finds a more seasoned JPL balancing 'sitting in my bedroom all alone' melancholia, with the inviting, offbeat wit that put him on the short list of Idol cult favorites. Silence was produced by Chris Garcia (Santana, Michelle Branch) and features the talents of drummer Kenny Aronoff (John Mellencamp, Indigo Girls) and guitarist Nick Lashley (Alanis Morissette, Natasha Bedingfield).
Emotionally charged and overflowing with brainy pop hooks, the debut single and title track, available now online, is an assured, infectious cut that recalls equal parts Ben Folds, Duncan Sheik and vintage Beatles.
The new album finds a more seasoned JPL balancing 'sitting in my bedroom all alone' melancholia, with the inviting, offbeat wit that put him on the short list of Idol cult favorites. Silence was produced by Chris Garcia (Santana, Michelle Branch) and features the talents of drummer Kenny Aronoff (John Mellencamp, Indigo Girls) and guitarist Nick Lashley (Alanis Morissette, Natasha Bedingfield).
Emotionally charged and overflowing with brainy pop hooks, the debut single and title track, available now online, is an assured, infectious cut that recalls equal parts Ben Folds, Duncan Sheik and vintage Beatles.
Ramiele Malubay Reflects On Her AI Journey Bookmark This
Although Ramiele Malubay admits that "Idol" has taken over her life since her initial audition, she is grateful for the experience. As she said, " It’s exposure, it’s a future and I’m very grateful for the judges to get me as far as I did to let America judge." She's taking away a lot from being on the show. Ramiele said it taught her humility, and to be courteous to each and every person that works on the show, as everyone was there to help. As far as advice for any future contestants, Ramiele said, "Totally be yourself and enjoy every single minute of it because if you think too far ahead you’re going to miss the fun stuff, when you look back. And I’m just glad that I took everything in and I didn’t regret anything."
She might have no regrets but Ramiele does admit to some missteps along the way. When asked about singing Heart's "Alone," which Carrie Underwood tackled so wonderfully during season four, Ramiele said she knew what she was up against. She watched Carrie's performance, but her whole goal was to get back to the great critiques she was getting earlier on in the show. In fact, Ramiele said that the initial praise she received didn't seem all that important at the time, and she even let it get to her head. But once she started getting some criticism, she really started over-thinking things, and that's when she thinks things fell apart.
When asked about her lack of experience in comparison to some of the other Idols, Ramiele downplayed the value of that, saying that they were on an "even playing field," as they were all learning the same things from the same vocal coaches, etc. As she put it, the judges chose them all for various reasons, and experience wasn't the end-all, be-all feature they were seeking. Her diminishing confidence throughout the competition, however, did play a big part, and Ramiele said she never should have started second-guessing herself.
Ramiele did say that each Idol seemed to handle the pressure in different ways, and her outlet was definitely her crying! Her emotions were her way of getting out the stress that she was feeling. She also decided not to read the things being said about her on the internet, as she felt that would only make it worse. To boot, Ramiele also felt some added pressure to not only live up to her own expectations as well as her family's, but to other Asian-Americans that were in her corner. When asked about the toll that Simon's comments took on her, Ramiele was surprisingly upbeat about the critical judge. She called him a "very nice guy," and said he even offered her a shoulder to cry on after the show. He told her that, ultimately, song choice might have been her downfall, and she seemed to agree.
Ramiele admitted to listening to her family way too much toward the beginning in regards to song choice. Her family would get upset when she wouldn't pick what they wanted her to sing, and she decided that it wasn't a healthy way for her to go about choosing. As far as her song choice this week went, Ramiele had never even heard the Dolly Parton song before. However, she was pleased with herself that she took a song in a genre she wasn't comfortable in, and she made it her own.
The biggest thing that Ramiele seems to be taking from the show are the strong bonds she formed with the other Idols, as many probably noticed from watching her week to week. She called the Idols one big family, and said that none of them even thought about it as a competition until Wednesday nights, when they realized someone would be going home. When she got back to her room the other night, Brooke, Syesha, and Kristy Lee had left her a very sweet card saying goodbye. Kady Malloy sent her encouraging text messages after she left. Even David Archuleta, who's actually younger than Ramiele, treated her like a younger sister and would come and pat her on the head! But the strongest bond she formed was with another fallen Idol, Danny Noriega. She said she talks to Danny every day and they are going to move in together after the tour, calling them a "friend duet." When it came to naming a winner for this season, Ramiele was at a loss. In other years, she said that people probably had an inkling at this point in the competition, but with everyone being so good this year, it's anyone's to win.
As far as the future goes, Ramiele couldn't be happier to be a part of the upcoming tour. After that, she says she will try to pursue a singing career here in L.A., and would even like to do some acting. If that doesn't work, she said she will probably go back to school to pursue a career in nursing. As far as what her fans could expect from an album, Ramiele said, "I grew up listening to a lot of what my parents listened to, a lot of 60s, 70s, 80s – a lot of 80s – and I would love to just make an R&B solo album and kind of just make it a little bit more upbeat and add my flavor to some old songs or covers or something."
She might have no regrets but Ramiele does admit to some missteps along the way. When asked about singing Heart's "Alone," which Carrie Underwood tackled so wonderfully during season four, Ramiele said she knew what she was up against. She watched Carrie's performance, but her whole goal was to get back to the great critiques she was getting earlier on in the show. In fact, Ramiele said that the initial praise she received didn't seem all that important at the time, and she even let it get to her head. But once she started getting some criticism, she really started over-thinking things, and that's when she thinks things fell apart.
When asked about her lack of experience in comparison to some of the other Idols, Ramiele downplayed the value of that, saying that they were on an "even playing field," as they were all learning the same things from the same vocal coaches, etc. As she put it, the judges chose them all for various reasons, and experience wasn't the end-all, be-all feature they were seeking. Her diminishing confidence throughout the competition, however, did play a big part, and Ramiele said she never should have started second-guessing herself.
Ramiele did say that each Idol seemed to handle the pressure in different ways, and her outlet was definitely her crying! Her emotions were her way of getting out the stress that she was feeling. She also decided not to read the things being said about her on the internet, as she felt that would only make it worse. To boot, Ramiele also felt some added pressure to not only live up to her own expectations as well as her family's, but to other Asian-Americans that were in her corner. When asked about the toll that Simon's comments took on her, Ramiele was surprisingly upbeat about the critical judge. She called him a "very nice guy," and said he even offered her a shoulder to cry on after the show. He told her that, ultimately, song choice might have been her downfall, and she seemed to agree.
Ramiele admitted to listening to her family way too much toward the beginning in regards to song choice. Her family would get upset when she wouldn't pick what they wanted her to sing, and she decided that it wasn't a healthy way for her to go about choosing. As far as her song choice this week went, Ramiele had never even heard the Dolly Parton song before. However, she was pleased with herself that she took a song in a genre she wasn't comfortable in, and she made it her own.
The biggest thing that Ramiele seems to be taking from the show are the strong bonds she formed with the other Idols, as many probably noticed from watching her week to week. She called the Idols one big family, and said that none of them even thought about it as a competition until Wednesday nights, when they realized someone would be going home. When she got back to her room the other night, Brooke, Syesha, and Kristy Lee had left her a very sweet card saying goodbye. Kady Malloy sent her encouraging text messages after she left. Even David Archuleta, who's actually younger than Ramiele, treated her like a younger sister and would come and pat her on the head! But the strongest bond she formed was with another fallen Idol, Danny Noriega. She said she talks to Danny every day and they are going to move in together after the tour, calling them a "friend duet." When it came to naming a winner for this season, Ramiele was at a loss. In other years, she said that people probably had an inkling at this point in the competition, but with everyone being so good this year, it's anyone's to win.
As far as the future goes, Ramiele couldn't be happier to be a part of the upcoming tour. After that, she says she will try to pursue a singing career here in L.A., and would even like to do some acting. If that doesn't work, she said she will probably go back to school to pursue a career in nursing. As far as what her fans could expect from an album, Ramiele said, "I grew up listening to a lot of what my parents listened to, a lot of 60s, 70s, 80s – a lot of 80s – and I would love to just make an R&B solo album and kind of just make it a little bit more upbeat and add my flavor to some old songs or covers or something."
Idol Gives Back Tickets Bookmark This
A final block of tickets to the Idol Gives Back performances at the Kodak Theatre on Sunday, April 6th have just been released!
The most recent announcement notes that the following stars are now scheduled to appear: Robin Williams, Celine Dion, Forest Whitaker, Billy Crystal, Dane Cook, Kiefer Sutherland, Vanessa Hudgens, Ashley Tisdale, Jennifer Connolly, Elliott Yamin, Fantasia and Amy Adams.
They join previously announced international talent and sports figures like Bono, Brad Pitt, Reese Witherspoon, Miley Cyrus, Mariah Carey, Eli Manning, Peyton Manning, Fergie, Chris Daughtry, Carrie Underwood, Annie Lennox, John Legend, Snoop Dogg, Maroon 5, Heart and Gloria Estefan.
The most recent announcement notes that the following stars are now scheduled to appear: Robin Williams, Celine Dion, Forest Whitaker, Billy Crystal, Dane Cook, Kiefer Sutherland, Vanessa Hudgens, Ashley Tisdale, Jennifer Connolly, Elliott Yamin, Fantasia and Amy Adams.
They join previously announced international talent and sports figures like Bono, Brad Pitt, Reese Witherspoon, Miley Cyrus, Mariah Carey, Eli Manning, Peyton Manning, Fergie, Chris Daughtry, Carrie Underwood, Annie Lennox, John Legend, Snoop Dogg, Maroon 5, Heart and Gloria Estefan.
Tuesday, February 26, 2008
WEEKLY COMMODITES REVIEW: Oil leads way as commodity prices strike record highs
LONDON:The price of oil soared to an historic high above 101 dollars this week, while gold and platinum also scored record peaks as speculators dived into already buoyant commodities markets. Prices of raw materials are surging on concerns over tight supplies and strong demand for raw materials, particularly from emerging economic powers China and India. Oil: New York crude spiked Wednesday to a record high of 101.32 dollars a barrel on fears about supply disruptions around the globe and amid strong demand. Also on Wednesday, Brent North Sea crude struck a record peak of 99.22 dollars. “Oil gained sharply, supported by a combination of factors, including persistent supply concerns,” said Sucden analyst Andrey Kryuchenkov. Despite supply worries, the Organisation of Petroleum Countries could cut output at its meeting in Vienna next month because demand for oil drops in the second quarter as winter ends in the northern hemisphere. One OPEC member is Venezuela, which has reduced supplies to the United States owing to a row with US energy giant ExxonMobil, the world’s biggest oil company. ExxonMobil says it has won court orders in New York, London, the Netherlands and the Netherlands Antilles freezing some 12 billion dollars of assets in those jurisdictions from Venezuela’s state-owned oil producer PDVSA. The legal battle relates to ExxonMobil’s bid to secure compensation after Venezuela’s government nationalised key oil fields in the Orinoco basin, including two ExxonMobil operations. Crude prices slumped on Thursday after two days of record peaks as a stronger-than-expected rise in US crude-oil reserves damped supply jitters. On Friday, New York’s main oil futures contract, light sweet crude for delivery in April, was at 97.52 dollars per barrel, compared with 96.38 dollars for the now-expired March contract a week earlier. Brent North Sea crude for April rallied to 95.94 dollars from 95.64 dollars. Platinum and palladium: Platinum, which is used to produce expensive jewellery and catalytic converters in vehicles, hit a historic pinnacle of 2,206 dollars an ounce. The white metal faces a tight supply situation because South Africa, which produces about 75 percent of the world’s platinum, is in the grips of a power crisis that has badly hit the country’s mining industry. Platinum’s sister metal palladium, which has also been affected by the South African situation, hit 525.50 dollars an ounce — a high point which was last scaled in 2001. On the London Platinum and Palladium Market, platinum rose to 2,155 dollars an ounce at the late fixing Friday from 2,057 dollars a week earlier. Palladium climbed to 506 dollars an ounce from 439.25 dollars. Gold and silver: Gold prices enjoyed a record high of 953.91 dollars per ounce on Thursday. Analysts said gold jumped higher as investors sought a haven for their cash amid concerns over rising inflation and surging oil prices. James Moore of TheBullionDesk.com said the precious metal “looks set to extend higher in the coming sessions as investors seek assets to offset rising inflation”. “Silver mirrored the move in gold ... hitting a new multi-decade high,” noted UBS analyst John Reade. On the London Bullion Market, gold soared to 943 dollars at Friday’s late fixing from 912.50 dollars a week earlier. Silver rose to 17.94 dollars an ounce at the late fixing from 17.38 dollars. Base metals: Base metals prices rallied across the board as tightening global supplies dictated market direction. “The strength in base metals prices is impressive given recent equity market volatility and macroeconomic concerns,” said Barclays Capital analysts. “Recently metals prices have decisively broken their link with equity markets and are being driven higher by supply concerns.” On Friday, copper for delivery in three months jumped to 8,325 dollars a tonne on the London Metal Exchange from 7,815 dollars a week earlier. Three-month aluminium prices climbed to 2,917 dollars a tonne from 2,850 dollars. Three-month nickel rose to 28,525 dollars a tonne from 27,700 dollars. Three-month lead gained to 3,260 dollars a tonne from 3,030 dollars. Three-month zinc climbed to 2,490 dollars a tonne from 2,350 dollars. Three-month tin increased to 17,550 dollars a tonne from 16,897 dollars. Grains and soya: Soya surged to a record peak at 14.28 dollars on Tuesday, while maize enjoyed a historic closing high of 5.24 dollars a bushel on Thursday. “We are in an uptrend with a lot of investment fund money pushing the market this week to new highs,” said US Commodities analyst Dax Wedemeyer. He added that runaway crude oil prices had underscored bumper gains for corn or maize, which is used to produce ethanol, a clean plant-based fuel. By Friday on the Chicago Board of Trade, wheat for May delivery rose to 10.35 dollars a bushel from 10.27 dollars the previous week. May-dated soyabean meal used in animal feed soared to 14.24 dollars from 14.05 dollars. The price of maize for March delivery advanced to 5.21 dollars a bushel from 5.14 dollars a week earlier. On LIFFE, the price per tonne of wheat for November delivery rose to 155.50 pounds from 153.80 pounds a week earlier. Cocoa: Cocoa prices surged to multi-year peaks in London and New York. “This market, and many in the softs complex, seem to be ... influenced by the large quantity of seemingly endless (investment) fund money that they are attracting,” said Sucden analyst Stephanie Garner. By Friday on LIFFE, London’s futures exchange, the price of cocoa for May delivery rallied to 1,324 pounds a tonne from 1,311 pounds a week earlier. On the New York Board of Trade (NYBOT), the May cocoa contract spiked to 2,567 dollars a tonne from 2,530 dollars a week earlier. SUGAR: Sugar prices also gained ground on fund buying. By Friday on LIFFE, the price per tonne of white sugar for May delivery jumped to 376 pounds from 372.10 pounds a week earlier. On NYBOT, the price of unrefined sugar for May delivery stood at 14.35 US cents a pound compared with 13.68 cents for the March contract the previous week. Rubber: Rubber prices stretched higher, backed by weak supplies and strong demand from China and Europe. Production in several major producing countries including Malaysia and Thailand was hampered by the dry season, which means that trees produce less latex. On Friday, the Malaysian Rubber Board’s benchmark SMR20 increased to 277.40 US cents per kilogramme from 268.30 US cents last week. Wool: The Australian wool market finished 2.1 percent lower on average, owing to abundant supplies. The Eastern Index slid to 9.74 Australian dollars a kilo, from 9.92 Australian dollars a week earlier.
LONDON:The price of oil soared to an historic high above 101 dollars this week, while gold and platinum also scored record peaks as speculators dived into already buoyant commodities markets. Prices of raw materials are surging on concerns over tight supplies and strong demand for raw materials, particularly from emerging economic powers China and India. Oil: New York crude spiked Wednesday to a record high of 101.32 dollars a barrel on fears about supply disruptions around the globe and amid strong demand. Also on Wednesday, Brent North Sea crude struck a record peak of 99.22 dollars. “Oil gained sharply, supported by a combination of factors, including persistent supply concerns,” said Sucden analyst Andrey Kryuchenkov. Despite supply worries, the Organisation of Petroleum Countries could cut output at its meeting in Vienna next month because demand for oil drops in the second quarter as winter ends in the northern hemisphere. One OPEC member is Venezuela, which has reduced supplies to the United States owing to a row with US energy giant ExxonMobil, the world’s biggest oil company. ExxonMobil says it has won court orders in New York, London, the Netherlands and the Netherlands Antilles freezing some 12 billion dollars of assets in those jurisdictions from Venezuela’s state-owned oil producer PDVSA. The legal battle relates to ExxonMobil’s bid to secure compensation after Venezuela’s government nationalised key oil fields in the Orinoco basin, including two ExxonMobil operations. Crude prices slumped on Thursday after two days of record peaks as a stronger-than-expected rise in US crude-oil reserves damped supply jitters. On Friday, New York’s main oil futures contract, light sweet crude for delivery in April, was at 97.52 dollars per barrel, compared with 96.38 dollars for the now-expired March contract a week earlier. Brent North Sea crude for April rallied to 95.94 dollars from 95.64 dollars. Platinum and palladium: Platinum, which is used to produce expensive jewellery and catalytic converters in vehicles, hit a historic pinnacle of 2,206 dollars an ounce. The white metal faces a tight supply situation because South Africa, which produces about 75 percent of the world’s platinum, is in the grips of a power crisis that has badly hit the country’s mining industry. Platinum’s sister metal palladium, which has also been affected by the South African situation, hit 525.50 dollars an ounce — a high point which was last scaled in 2001. On the London Platinum and Palladium Market, platinum rose to 2,155 dollars an ounce at the late fixing Friday from 2,057 dollars a week earlier. Palladium climbed to 506 dollars an ounce from 439.25 dollars. Gold and silver: Gold prices enjoyed a record high of 953.91 dollars per ounce on Thursday. Analysts said gold jumped higher as investors sought a haven for their cash amid concerns over rising inflation and surging oil prices. James Moore of TheBullionDesk.com said the precious metal “looks set to extend higher in the coming sessions as investors seek assets to offset rising inflation”. “Silver mirrored the move in gold ... hitting a new multi-decade high,” noted UBS analyst John Reade. On the London Bullion Market, gold soared to 943 dollars at Friday’s late fixing from 912.50 dollars a week earlier. Silver rose to 17.94 dollars an ounce at the late fixing from 17.38 dollars. Base metals: Base metals prices rallied across the board as tightening global supplies dictated market direction. “The strength in base metals prices is impressive given recent equity market volatility and macroeconomic concerns,” said Barclays Capital analysts. “Recently metals prices have decisively broken their link with equity markets and are being driven higher by supply concerns.” On Friday, copper for delivery in three months jumped to 8,325 dollars a tonne on the London Metal Exchange from 7,815 dollars a week earlier. Three-month aluminium prices climbed to 2,917 dollars a tonne from 2,850 dollars. Three-month nickel rose to 28,525 dollars a tonne from 27,700 dollars. Three-month lead gained to 3,260 dollars a tonne from 3,030 dollars. Three-month zinc climbed to 2,490 dollars a tonne from 2,350 dollars. Three-month tin increased to 17,550 dollars a tonne from 16,897 dollars. Grains and soya: Soya surged to a record peak at 14.28 dollars on Tuesday, while maize enjoyed a historic closing high of 5.24 dollars a bushel on Thursday. “We are in an uptrend with a lot of investment fund money pushing the market this week to new highs,” said US Commodities analyst Dax Wedemeyer. He added that runaway crude oil prices had underscored bumper gains for corn or maize, which is used to produce ethanol, a clean plant-based fuel. By Friday on the Chicago Board of Trade, wheat for May delivery rose to 10.35 dollars a bushel from 10.27 dollars the previous week. May-dated soyabean meal used in animal feed soared to 14.24 dollars from 14.05 dollars. The price of maize for March delivery advanced to 5.21 dollars a bushel from 5.14 dollars a week earlier. On LIFFE, the price per tonne of wheat for November delivery rose to 155.50 pounds from 153.80 pounds a week earlier. Cocoa: Cocoa prices surged to multi-year peaks in London and New York. “This market, and many in the softs complex, seem to be ... influenced by the large quantity of seemingly endless (investment) fund money that they are attracting,” said Sucden analyst Stephanie Garner. By Friday on LIFFE, London’s futures exchange, the price of cocoa for May delivery rallied to 1,324 pounds a tonne from 1,311 pounds a week earlier. On the New York Board of Trade (NYBOT), the May cocoa contract spiked to 2,567 dollars a tonne from 2,530 dollars a week earlier. SUGAR: Sugar prices also gained ground on fund buying. By Friday on LIFFE, the price per tonne of white sugar for May delivery jumped to 376 pounds from 372.10 pounds a week earlier. On NYBOT, the price of unrefined sugar for May delivery stood at 14.35 US cents a pound compared with 13.68 cents for the March contract the previous week. Rubber: Rubber prices stretched higher, backed by weak supplies and strong demand from China and Europe. Production in several major producing countries including Malaysia and Thailand was hampered by the dry season, which means that trees produce less latex. On Friday, the Malaysian Rubber Board’s benchmark SMR20 increased to 277.40 US cents per kilogramme from 268.30 US cents last week. Wool: The Australian wool market finished 2.1 percent lower on average, owing to abundant supplies. The Eastern Index slid to 9.74 Australian dollars a kilo, from 9.92 Australian dollars a week earlier.
WEEKLY COMMODITES REVIEW: Oil leads way as commodity prices strike record highs
LONDON:The price of oil soared to an historic high above 101 dollars this week, while gold and platinum also scored record peaks as speculators dived into already buoyant commodities markets. Prices of raw materials are surging on concerns over tight supplies and strong demand for raw materials, particularly from emerging economic powers China and India. Oil: New York crude spiked Wednesday to a record high of 101.32 dollars a barrel on fears about supply disruptions around the globe and amid strong demand. Also on Wednesday, Brent North Sea crude struck a record peak of 99.22 dollars. “Oil gained sharply, supported by a combination of factors, including persistent supply concerns,” said Sucden analyst Andrey Kryuchenkov. Despite supply worries, the Organisation of Petroleum Countries could cut output at its meeting in Vienna next month because demand for oil drops in the second quarter as winter ends in the northern hemisphere. One OPEC member is Venezuela, which has reduced supplies to the United States owing to a row with US energy giant ExxonMobil, the world’s biggest oil company. ExxonMobil says it has won court orders in New York, London, the Netherlands and the Netherlands Antilles freezing some 12 billion dollars of assets in those jurisdictions from Venezuela’s state-owned oil producer PDVSA. The legal battle relates to ExxonMobil’s bid to secure compensation after Venezuela’s government nationalised key oil fields in the Orinoco basin, including two ExxonMobil operations. Crude prices slumped on Thursday after two days of record peaks as a stronger-than-expected rise in US crude-oil reserves damped supply jitters. On Friday, New York’s main oil futures contract, light sweet crude for delivery in April, was at 97.52 dollars per barrel, compared with 96.38 dollars for the now-expired March contract a week earlier. Brent North Sea crude for April rallied to 95.94 dollars from 95.64 dollars. Platinum and palladium: Platinum, which is used to produce expensive jewellery and catalytic converters in vehicles, hit a historic pinnacle of 2,206 dollars an ounce. The white metal faces a tight supply situation because South Africa, which produces about 75 percent of the world’s platinum, is in the grips of a power crisis that has badly hit the country’s mining industry. Platinum’s sister metal palladium, which has also been affected by the South African situation, hit 525.50 dollars an ounce — a high point which was last scaled in 2001. On the London Platinum and Palladium Market, platinum rose to 2,155 dollars an ounce at the late fixing Friday from 2,057 dollars a week earlier. Palladium climbed to 506 dollars an ounce from 439.25 dollars. Gold and silver: Gold prices enjoyed a record high of 953.91 dollars per ounce on Thursday. Analysts said gold jumped higher as investors sought a haven for their cash amid concerns over rising inflation and surging oil prices. James Moore of TheBullionDesk.com said the precious metal “looks set to extend higher in the coming sessions as investors seek assets to offset rising inflation”. “Silver mirrored the move in gold ... hitting a new multi-decade high,” noted UBS analyst John Reade. On the London Bullion Market, gold soared to 943 dollars at Friday’s late fixing from 912.50 dollars a week earlier. Silver rose to 17.94 dollars an ounce at the late fixing from 17.38 dollars. Base metals: Base metals prices rallied across the board as tightening global supplies dictated market direction. “The strength in base metals prices is impressive given recent equity market volatility and macroeconomic concerns,” said Barclays Capital analysts. “Recently metals prices have decisively broken their link with equity markets and are being driven higher by supply concerns.” On Friday, copper for delivery in three months jumped to 8,325 dollars a tonne on the London Metal Exchange from 7,815 dollars a week earlier. Three-month aluminium prices climbed to 2,917 dollars a tonne from 2,850 dollars. Three-month nickel rose to 28,525 dollars a tonne from 27,700 dollars. Three-month lead gained to 3,260 dollars a tonne from 3,030 dollars. Three-month zinc climbed to 2,490 dollars a tonne from 2,350 dollars. Three-month tin increased to 17,550 dollars a tonne from 16,897 dollars. Grains and soya: Soya surged to a record peak at 14.28 dollars on Tuesday, while maize enjoyed a historic closing high of 5.24 dollars a bushel on Thursday. “We are in an uptrend with a lot of investment fund money pushing the market this week to new highs,” said US Commodities analyst Dax Wedemeyer. He added that runaway crude oil prices had underscored bumper gains for corn or maize, which is used to produce ethanol, a clean plant-based fuel. By Friday on the Chicago Board of Trade, wheat for May delivery rose to 10.35 dollars a bushel from 10.27 dollars the previous week. May-dated soyabean meal used in animal feed soared to 14.24 dollars from 14.05 dollars. The price of maize for March delivery advanced to 5.21 dollars a bushel from 5.14 dollars a week earlier. On LIFFE, the price per tonne of wheat for November delivery rose to 155.50 pounds from 153.80 pounds a week earlier. Cocoa: Cocoa prices surged to multi-year peaks in London and New York. “This market, and many in the softs complex, seem to be ... influenced by the large quantity of seemingly endless (investment) fund money that they are attracting,” said Sucden analyst Stephanie Garner. By Friday on LIFFE, London’s futures exchange, the price of cocoa for May delivery rallied to 1,324 pounds a tonne from 1,311 pounds a week earlier. On the New York Board of Trade (NYBOT), the May cocoa contract spiked to 2,567 dollars a tonne from 2,530 dollars a week earlier. SUGAR: Sugar prices also gained ground on fund buying. By Friday on LIFFE, the price per tonne of white sugar for May delivery jumped to 376 pounds from 372.10 pounds a week earlier. On NYBOT, the price of unrefined sugar for May delivery stood at 14.35 US cents a pound compared with 13.68 cents for the March contract the previous week. Rubber: Rubber prices stretched higher, backed by weak supplies and strong demand from China and Europe. Production in several major producing countries including Malaysia and Thailand was hampered by the dry season, which means that trees produce less latex. On Friday, the Malaysian Rubber Board’s benchmark SMR20 increased to 277.40 US cents per kilogramme from 268.30 US cents last week. Wool: The Australian wool market finished 2.1 percent lower on average, owing to abundant supplies. The Eastern Index slid to 9.74 Australian dollars a kilo, from 9.92 Australian dollars a week earlier.
LONDON:The price of oil soared to an historic high above 101 dollars this week, while gold and platinum also scored record peaks as speculators dived into already buoyant commodities markets. Prices of raw materials are surging on concerns over tight supplies and strong demand for raw materials, particularly from emerging economic powers China and India. Oil: New York crude spiked Wednesday to a record high of 101.32 dollars a barrel on fears about supply disruptions around the globe and amid strong demand. Also on Wednesday, Brent North Sea crude struck a record peak of 99.22 dollars. “Oil gained sharply, supported by a combination of factors, including persistent supply concerns,” said Sucden analyst Andrey Kryuchenkov. Despite supply worries, the Organisation of Petroleum Countries could cut output at its meeting in Vienna next month because demand for oil drops in the second quarter as winter ends in the northern hemisphere. One OPEC member is Venezuela, which has reduced supplies to the United States owing to a row with US energy giant ExxonMobil, the world’s biggest oil company. ExxonMobil says it has won court orders in New York, London, the Netherlands and the Netherlands Antilles freezing some 12 billion dollars of assets in those jurisdictions from Venezuela’s state-owned oil producer PDVSA. The legal battle relates to ExxonMobil’s bid to secure compensation after Venezuela’s government nationalised key oil fields in the Orinoco basin, including two ExxonMobil operations. Crude prices slumped on Thursday after two days of record peaks as a stronger-than-expected rise in US crude-oil reserves damped supply jitters. On Friday, New York’s main oil futures contract, light sweet crude for delivery in April, was at 97.52 dollars per barrel, compared with 96.38 dollars for the now-expired March contract a week earlier. Brent North Sea crude for April rallied to 95.94 dollars from 95.64 dollars. Platinum and palladium: Platinum, which is used to produce expensive jewellery and catalytic converters in vehicles, hit a historic pinnacle of 2,206 dollars an ounce. The white metal faces a tight supply situation because South Africa, which produces about 75 percent of the world’s platinum, is in the grips of a power crisis that has badly hit the country’s mining industry. Platinum’s sister metal palladium, which has also been affected by the South African situation, hit 525.50 dollars an ounce — a high point which was last scaled in 2001. On the London Platinum and Palladium Market, platinum rose to 2,155 dollars an ounce at the late fixing Friday from 2,057 dollars a week earlier. Palladium climbed to 506 dollars an ounce from 439.25 dollars. Gold and silver: Gold prices enjoyed a record high of 953.91 dollars per ounce on Thursday. Analysts said gold jumped higher as investors sought a haven for their cash amid concerns over rising inflation and surging oil prices. James Moore of TheBullionDesk.com said the precious metal “looks set to extend higher in the coming sessions as investors seek assets to offset rising inflation”. “Silver mirrored the move in gold ... hitting a new multi-decade high,” noted UBS analyst John Reade. On the London Bullion Market, gold soared to 943 dollars at Friday’s late fixing from 912.50 dollars a week earlier. Silver rose to 17.94 dollars an ounce at the late fixing from 17.38 dollars. Base metals: Base metals prices rallied across the board as tightening global supplies dictated market direction. “The strength in base metals prices is impressive given recent equity market volatility and macroeconomic concerns,” said Barclays Capital analysts. “Recently metals prices have decisively broken their link with equity markets and are being driven higher by supply concerns.” On Friday, copper for delivery in three months jumped to 8,325 dollars a tonne on the London Metal Exchange from 7,815 dollars a week earlier. Three-month aluminium prices climbed to 2,917 dollars a tonne from 2,850 dollars. Three-month nickel rose to 28,525 dollars a tonne from 27,700 dollars. Three-month lead gained to 3,260 dollars a tonne from 3,030 dollars. Three-month zinc climbed to 2,490 dollars a tonne from 2,350 dollars. Three-month tin increased to 17,550 dollars a tonne from 16,897 dollars. Grains and soya: Soya surged to a record peak at 14.28 dollars on Tuesday, while maize enjoyed a historic closing high of 5.24 dollars a bushel on Thursday. “We are in an uptrend with a lot of investment fund money pushing the market this week to new highs,” said US Commodities analyst Dax Wedemeyer. He added that runaway crude oil prices had underscored bumper gains for corn or maize, which is used to produce ethanol, a clean plant-based fuel. By Friday on the Chicago Board of Trade, wheat for May delivery rose to 10.35 dollars a bushel from 10.27 dollars the previous week. May-dated soyabean meal used in animal feed soared to 14.24 dollars from 14.05 dollars. The price of maize for March delivery advanced to 5.21 dollars a bushel from 5.14 dollars a week earlier. On LIFFE, the price per tonne of wheat for November delivery rose to 155.50 pounds from 153.80 pounds a week earlier. Cocoa: Cocoa prices surged to multi-year peaks in London and New York. “This market, and many in the softs complex, seem to be ... influenced by the large quantity of seemingly endless (investment) fund money that they are attracting,” said Sucden analyst Stephanie Garner. By Friday on LIFFE, London’s futures exchange, the price of cocoa for May delivery rallied to 1,324 pounds a tonne from 1,311 pounds a week earlier. On the New York Board of Trade (NYBOT), the May cocoa contract spiked to 2,567 dollars a tonne from 2,530 dollars a week earlier. SUGAR: Sugar prices also gained ground on fund buying. By Friday on LIFFE, the price per tonne of white sugar for May delivery jumped to 376 pounds from 372.10 pounds a week earlier. On NYBOT, the price of unrefined sugar for May delivery stood at 14.35 US cents a pound compared with 13.68 cents for the March contract the previous week. Rubber: Rubber prices stretched higher, backed by weak supplies and strong demand from China and Europe. Production in several major producing countries including Malaysia and Thailand was hampered by the dry season, which means that trees produce less latex. On Friday, the Malaysian Rubber Board’s benchmark SMR20 increased to 277.40 US cents per kilogramme from 268.30 US cents last week. Wool: The Australian wool market finished 2.1 percent lower on average, owing to abundant supplies. The Eastern Index slid to 9.74 Australian dollars a kilo, from 9.92 Australian dollars a week earlier.
U.S. Economy Ranks as World’s Most Competitive
Innovation, market efficiency contribute most to U.S. standing
Washington -- The U.S. economy has regained its ranking as the world's most competitive, largely as a result of its efficient markets and corporate innovation, according to a major report.
Following the United States were Switzerland, Denmark, Sweden and Germany in the 2007 edition of The Global Competitiveness Report, published by the World Economic Forum (WEF), an international research and policy-support group. In 2006, the U.S. economy ranked Number 6 in overall competitiveness.
“The efficiency of the country’s markets, the sophistication of its business community, the impressive capacity for technological innovation that exists within a first-rate system of universities and research centers, all contribute to making the United States a highly competitive economy," said economist Xavier Sala-i-Martin, a co-editor of the report.
However, the report warns that macroeconomic imbalances, including current account deficit, and some weaknesses of U.S. institutions “pose a risk to the country’s overall competitiveness potential.”
Innovation, market efficiency contribute most to U.S. standing
Washington -- The U.S. economy has regained its ranking as the world's most competitive, largely as a result of its efficient markets and corporate innovation, according to a major report.
Following the United States were Switzerland, Denmark, Sweden and Germany in the 2007 edition of The Global Competitiveness Report, published by the World Economic Forum (WEF), an international research and policy-support group. In 2006, the U.S. economy ranked Number 6 in overall competitiveness.
“The efficiency of the country’s markets, the sophistication of its business community, the impressive capacity for technological innovation that exists within a first-rate system of universities and research centers, all contribute to making the United States a highly competitive economy," said economist Xavier Sala-i-Martin, a co-editor of the report.
However, the report warns that macroeconomic imbalances, including current account deficit, and some weaknesses of U.S. institutions “pose a risk to the country’s overall competitiveness potential.”
U.S. Economy Is Fundamentally Strong, President Says
Short-term stimulus package designed to stave off a downturn
Washington -- President Bush and Federal Reserve Chairman Ben Bernanke have emphasized to world economic markets that the U.S. economy remains fundamentally resilient and concerns about a slowdown in growth could be ameliorated by a short-term stimulus package.
"[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself. So I think we need to keep in mind also that the economy does have inherent strengths and that those will certainly surface over a period of time," Bernanke said during testimony before the U.S. House Budget Committee January 17. Periodically during the year, Bernanke testifies before Congress on the current economic outlook and future trends.
Coinciding with Bernanke's remarks about the continuing strength of the U.S. economy, President Bush announced January 18 that he is asking Congress for a short-term economic stimulus package to help avoid a slowdown in the economy and to help reassure world markets he is prepared to act swiftly.
"Our economy has a solid foundation, but there are areas of real concern. The economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and [trade] exports are still rising, but the cost of imported oil has increased," Bush said in a televised White House address
Washington -- President Bush and Federal Reserve Chairman Ben Bernanke have emphasized to world economic markets that the U.S. economy remains fundamentally resilient and concerns about a slowdown in growth could be ameliorated by a short-term stimulus package.
"[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself. So I think we need to keep in mind also that the economy does have inherent strengths and that those will certainly surface over a period of time," Bernanke said during testimony before the U.S. House Budget Committee January 17. Periodically during the year, Bernanke testifies before Congress on the current economic outlook and future trends.
Coinciding with Bernanke's remarks about the continuing strength of the U.S. economy, President Bush announced January 18 that he is asking Congress for a short-term economic stimulus package to help avoid a slowdown in the economy and to help reassure world markets he is prepared to act swiftly.
"Our economy has a solid foundation, but there are areas of real concern. The economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and [trade] exports are still rising, but the cost of imported oil has increased," Bush said in a televised White House address
Short-term stimulus package designed to stave off a downturn
Washington -- President Bush and Federal Reserve Chairman Ben Bernanke have emphasized to world economic markets that the U.S. economy remains fundamentally resilient and concerns about a slowdown in growth could be ameliorated by a short-term stimulus package.
"[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself. So I think we need to keep in mind also that the economy does have inherent strengths and that those will certainly surface over a period of time," Bernanke said during testimony before the U.S. House Budget Committee January 17. Periodically during the year, Bernanke testifies before Congress on the current economic outlook and future trends.
Coinciding with Bernanke's remarks about the continuing strength of the U.S. economy, President Bush announced January 18 that he is asking Congress for a short-term economic stimulus package to help avoid a slowdown in the economy and to help reassure world markets he is prepared to act swiftly.
"Our economy has a solid foundation, but there are areas of real concern. The economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and [trade] exports are still rising, but the cost of imported oil has increased," Bush said in a televised White House address
Washington -- President Bush and Federal Reserve Chairman Ben Bernanke have emphasized to world economic markets that the U.S. economy remains fundamentally resilient and concerns about a slowdown in growth could be ameliorated by a short-term stimulus package.
"[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself. So I think we need to keep in mind also that the economy does have inherent strengths and that those will certainly surface over a period of time," Bernanke said during testimony before the U.S. House Budget Committee January 17. Periodically during the year, Bernanke testifies before Congress on the current economic outlook and future trends.
Coinciding with Bernanke's remarks about the continuing strength of the U.S. economy, President Bush announced January 18 that he is asking Congress for a short-term economic stimulus package to help avoid a slowdown in the economy and to help reassure world markets he is prepared to act swiftly.
"Our economy has a solid foundation, but there are areas of real concern. The economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and [trade] exports are still rising, but the cost of imported oil has increased," Bush said in a televised White House address
Economic Growth Decline Predicted for 2008, with Rebound in 2009
U.S. economy remains resilient, secretary of state tells Economic Forum
Washington -- The pace of U.S. economic growth will slow somewhat through 2008, and an economic rebound is likely to begin early in 2009 as the housing and financial sectors improve, says a Congressional Budget Office forecast.
Peter Orszag, director of the nonpartisan Congressional Budget Office (CBO), said in testimony before several congressional budget and finance committees that the current economic weakness was created by tight credit, a housing crisis and rising oil prices. The CBO provides Congress at least two economic outlook forecasts annually.
"The state of the economy is particularly uncertain at the moment. The pace of economic growth slowed in 2007, and there are strong indications that it will slacken further in 2008," Orszag said January 24 in congressional testimony. "In CBO's view, the ongoing problems in the housing and financial markets and the high price of oil will curb spending by households and businesses this year and trim the growth of [the gross domestic product]."
A nation's gross domestic product (GDP) is the total market value of all final goods and services produced by a nation. It generally includes four components -- consumer spending, investment, government spending and exports and imports. For 2008, CBO estimates the U.S. GDP to reach approximately $13.67 trillion and will rise further to $14.2 trillion in 2009.
A stock broker monitors volatile trading action in London on January 23. (© AP Images)
In congressional testimony, Orszag said it is not likely the U.S. economy will worsen beyond the expected slowing in growth, but the estimate of the gross domestic product is revised throughout the year as conditions change. "CBO expects the economy to rebound after 2008, as the negative effects of the turmoil in the housing and financial markets fade," he said.
Secretary of State Condoleezza Rice, speaking January 23 at the World Economic Forum in Davos, Switzerland, said the U.S. economy remains a leading engine for global economic growth, and world markets should have confidence in the underlying strength of the global economy.
"I know that many are concerned by the recent fluctuations in U.S. financial markets, and by concerns about the U.S. economy," she said. "The U.S. economy is resilient, its structure is sound, and its long-term economic fundamentals are healthy. The United States continues to welcome foreign investment and free trade."
On January 18, President Bush announced he was asking Congress to pass a temporary economic package designed to stimulate consumer spending and business investment. He said the stimulus package would amount to about 1 percent of GDP, or between $140 billion and $145 billion, though the final amount could reach as high as $150 billion.
Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi and Republican Minority Leader John Boehner announced January 24 that a deal had been struck between the White House and Congress to provide a stimulus package of tax rebates for consumers and incentives for business investment. Senate Majority Leader Harry Reid told the Reuters news agency that the bipartisan package could be sent to Bush for his signature by mid-February.
That action in fiscal policy by the president was matched by the U.S. Federal Reserve on January 22 in monetary policy when it lowered interest rates to encourage banks to lend money to businesses and stimulate investment. That action helped world stock markets rally and recover from a trading slide that began earlier.
Federal Reserve Chairman Ben Bernanke said in congressional testimony that he sees an economic stimulus package as effective in blunting recent economic turmoil as long as the stimulus package is timely, targeted and temporary.
U.S. economy remains resilient, secretary of state tells Economic Forum
Washington -- The pace of U.S. economic growth will slow somewhat through 2008, and an economic rebound is likely to begin early in 2009 as the housing and financial sectors improve, says a Congressional Budget Office forecast.
Peter Orszag, director of the nonpartisan Congressional Budget Office (CBO), said in testimony before several congressional budget and finance committees that the current economic weakness was created by tight credit, a housing crisis and rising oil prices. The CBO provides Congress at least two economic outlook forecasts annually.
"The state of the economy is particularly uncertain at the moment. The pace of economic growth slowed in 2007, and there are strong indications that it will slacken further in 2008," Orszag said January 24 in congressional testimony. "In CBO's view, the ongoing problems in the housing and financial markets and the high price of oil will curb spending by households and businesses this year and trim the growth of [the gross domestic product]."
A nation's gross domestic product (GDP) is the total market value of all final goods and services produced by a nation. It generally includes four components -- consumer spending, investment, government spending and exports and imports. For 2008, CBO estimates the U.S. GDP to reach approximately $13.67 trillion and will rise further to $14.2 trillion in 2009.
A stock broker monitors volatile trading action in London on January 23. (© AP Images)
In congressional testimony, Orszag said it is not likely the U.S. economy will worsen beyond the expected slowing in growth, but the estimate of the gross domestic product is revised throughout the year as conditions change. "CBO expects the economy to rebound after 2008, as the negative effects of the turmoil in the housing and financial markets fade," he said.
Secretary of State Condoleezza Rice, speaking January 23 at the World Economic Forum in Davos, Switzerland, said the U.S. economy remains a leading engine for global economic growth, and world markets should have confidence in the underlying strength of the global economy.
"I know that many are concerned by the recent fluctuations in U.S. financial markets, and by concerns about the U.S. economy," she said. "The U.S. economy is resilient, its structure is sound, and its long-term economic fundamentals are healthy. The United States continues to welcome foreign investment and free trade."
On January 18, President Bush announced he was asking Congress to pass a temporary economic package designed to stimulate consumer spending and business investment. He said the stimulus package would amount to about 1 percent of GDP, or between $140 billion and $145 billion, though the final amount could reach as high as $150 billion.
Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi and Republican Minority Leader John Boehner announced January 24 that a deal had been struck between the White House and Congress to provide a stimulus package of tax rebates for consumers and incentives for business investment. Senate Majority Leader Harry Reid told the Reuters news agency that the bipartisan package could be sent to Bush for his signature by mid-February.
That action in fiscal policy by the president was matched by the U.S. Federal Reserve on January 22 in monetary policy when it lowered interest rates to encourage banks to lend money to businesses and stimulate investment. That action helped world stock markets rally and recover from a trading slide that began earlier.
Federal Reserve Chairman Ben Bernanke said in congressional testimony that he sees an economic stimulus package as effective in blunting recent economic turmoil as long as the stimulus package is timely, targeted and temporary.
U.S. in role of wounded giant at Davos
DAVOS, Switzerland: The United States has filled various roles at the World Economic Forum over the past decade: dot-com dynamo, benevolent superpower, feared aggressor, and now, wounded giant.
On the first day of this conference, a parade of bankers, economists, and political officials expressed deep fears about the faltering American economy, peppered with blunt criticism of its institutions, chiefly the Federal Reserve, which some accused of sowing the seeds of today's crisis.
George Soros, the financier who made a fortune betting against the pound, went so far Wednesday as to say that the downturn would put an end to the long status of the dollar as the world's default currency.
"The current crisis is not only the bust that follows the housing boom," Soros said. "It's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency."
Signs of a new economic order abounded in this Swiss ski resort: the minister of commerce and industry of India, Kamal Nath, noted that China had overtaken the United States as India's largest trading partner - buttressing his view that India could largely sidestep an American recession
The head of the National Bank of Kuwait, Ibrahim Dabdoub, said Americans who opposed sovereign wealth funds like the one run by his government needed to come to terms with the new reality.
Completing the role reversal, Nouriel Roubini, an American economist, said, "the United States looks like an emerging market," with large budget deficits and a swooning currency. By contrast, he said, Brazil, an actual emerging market, had done a better job of overhauling its economy.
Roubini, whose frequent predictions of a downturn have made him something of a soothsayer in Davos, predicted the United States would suffer a recession lasting at least a year. He foresees a flood of defaults on car loans and corporate bonds, as well as a prolonged bear market.
"The debate is not whether we're going to have a soft landing or a hard landing," he said. "The question is only how hard the hard landing will be."
Several economists said the Federal Reserve seemed to have lost control of events since the subprime crisis erupted last summer. Some criticized its steep cut in interest rates Tuesday as a knee-jerk reaction to calm the markets rather than a sound response to a deteriorating situation
Policy makers are reaching back into the same playbook that got us into this mess in the first place," said Stephen Roach, an economist who recently became the chairman of Morgan Stanley Asia.
DAVOS, Switzerland: The United States has filled various roles at the World Economic Forum over the past decade: dot-com dynamo, benevolent superpower, feared aggressor, and now, wounded giant.
On the first day of this conference, a parade of bankers, economists, and political officials expressed deep fears about the faltering American economy, peppered with blunt criticism of its institutions, chiefly the Federal Reserve, which some accused of sowing the seeds of today's crisis.
George Soros, the financier who made a fortune betting against the pound, went so far Wednesday as to say that the downturn would put an end to the long status of the dollar as the world's default currency.
"The current crisis is not only the bust that follows the housing boom," Soros said. "It's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency."
Signs of a new economic order abounded in this Swiss ski resort: the minister of commerce and industry of India, Kamal Nath, noted that China had overtaken the United States as India's largest trading partner - buttressing his view that India could largely sidestep an American recession
The head of the National Bank of Kuwait, Ibrahim Dabdoub, said Americans who opposed sovereign wealth funds like the one run by his government needed to come to terms with the new reality.
Completing the role reversal, Nouriel Roubini, an American economist, said, "the United States looks like an emerging market," with large budget deficits and a swooning currency. By contrast, he said, Brazil, an actual emerging market, had done a better job of overhauling its economy.
Roubini, whose frequent predictions of a downturn have made him something of a soothsayer in Davos, predicted the United States would suffer a recession lasting at least a year. He foresees a flood of defaults on car loans and corporate bonds, as well as a prolonged bear market.
"The debate is not whether we're going to have a soft landing or a hard landing," he said. "The question is only how hard the hard landing will be."
Several economists said the Federal Reserve seemed to have lost control of events since the subprime crisis erupted last summer. Some criticized its steep cut in interest rates Tuesday as a knee-jerk reaction to calm the markets rather than a sound response to a deteriorating situation
Policy makers are reaching back into the same playbook that got us into this mess in the first place," said Stephen Roach, an economist who recently became the chairman of Morgan Stanley Asia.
American Stock Exchange Lists Units of Asia Special Situation Acquisition Corp
NEW YORK, Jan. 17 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today lists the units of Asia Special Situation Acquisition Corp. under the ticker symbol CIO.U. The offering size is 10,000,000 units at $10.00 per unit for gross proceeds of $100,000,000 (excluding the underwriters' over-allotment option). One unit consists of one ordinary share and one warrant to purchase one ordinary share. Initially, the units will be the only security trading. Maxim Group LLC is the lead underwriter on this IPO.
Asia Special Situation Acquisition Corp. is a newly organized company formed for the purpose acquiring all or a majority interest in one or more operating businesses, through a capital stock exchange, asset acquisition, stock purchase, or other similar transaction, including obtaining a majority interest through contractual arrangements. The Company intends to identify prospective acquisitions that are either located in Asia, provide products or services to consumers located in Asia, or invest in Asia.
"We are pleased to welcome Asia Special Situation Acquisition Corp. to the American Stock Exchange," said Neal Wolkoff, Chairman and CEO of the Amex. "We look forward to working with the Company in building increased awareness and visibility with U.S. investors."
Angela Ho, Chairman and CEO of Asia Special Situation Acquisition Corp., stated, "We are excited to be listed on the American Stock Exchange, and we look forward to creating value for our shareholders. We intend to leverage the extensive relationships of our management to source an attractive business combination."
The specialist in Asia Special Situation Acquisition Corp. is Kellogg Capital Group LLC. For further information on CIO.U and other Amex-listed companies, please visit www.amex.com.
About American Stock Exchange
The American Stock Exchange(R) (Amex(R)) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 381 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.
NEW YORK, Jan. 17 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today lists the units of Asia Special Situation Acquisition Corp. under the ticker symbol CIO.U. The offering size is 10,000,000 units at $10.00 per unit for gross proceeds of $100,000,000 (excluding the underwriters' over-allotment option). One unit consists of one ordinary share and one warrant to purchase one ordinary share. Initially, the units will be the only security trading. Maxim Group LLC is the lead underwriter on this IPO.
Asia Special Situation Acquisition Corp. is a newly organized company formed for the purpose acquiring all or a majority interest in one or more operating businesses, through a capital stock exchange, asset acquisition, stock purchase, or other similar transaction, including obtaining a majority interest through contractual arrangements. The Company intends to identify prospective acquisitions that are either located in Asia, provide products or services to consumers located in Asia, or invest in Asia.
"We are pleased to welcome Asia Special Situation Acquisition Corp. to the American Stock Exchange," said Neal Wolkoff, Chairman and CEO of the Amex. "We look forward to working with the Company in building increased awareness and visibility with U.S. investors."
Angela Ho, Chairman and CEO of Asia Special Situation Acquisition Corp., stated, "We are excited to be listed on the American Stock Exchange, and we look forward to creating value for our shareholders. We intend to leverage the extensive relationships of our management to source an attractive business combination."
The specialist in Asia Special Situation Acquisition Corp. is Kellogg Capital Group LLC. For further information on CIO.U and other Amex-listed companies, please visit www.amex.com.
About American Stock Exchange
The American Stock Exchange(R) (Amex(R)) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 381 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.
EUR/USD (1.4823)European & US sessions forecast levels: 1.4745/1.4860Trend Sessions: European – Neutral/DownwardUS – NeutralMarket Focus: 10:00 AM Existing Home Sales, 4:00 AM Italian Retail Sales, 1:50 PM ECB President Trichet Speaks.Daily Strategy: The fears about the high Euro Zone inflation stop the rumors and speculations about eventually interest rates cut by ECB. With so high inflation the chances for cut of the interest rates in the Euro Zone are minimal. The new jump of the oil prices will hurt serious the world economy and will pump the inflation. For today we expect temporary recovery of the dollar during the European session. If the dollar break above 1.4860 will follow levels of 1.4920/25.
RBA) Malcolm Edey - Economic and Political Overview 2008
(RBA) Malcolm Edey - Economic and Political Overview 2008
Talk to CEDA Economic and Political Overview 2008
Malcolm EdeyAssistant Governor (Economic)
Committee for Economic Development of Australia (CEDA)Economic and Political Overview 2008Sydney - 19 February 2008
Thanks to CEDA for the invitation to speak here today.
Since the last time I spoke at this event, the RBA has taken a number of steps to increase the amount of information it makes available to the public, both about its policy processes, and its thinking about the economy. We now issue a monthly statement after each Board meeting, setting out the reasons for the latest decision, whether or not the interest rate is being changed. Minutes of the Board meetings are now also published, and they give additional detail on the matters that were considered and the reasoning behind the decision. And those of you who follow these things closely would know that we've increased the level of detail in the economic forecasts set out in our quarterly Statement on Monetary Policy.
So there's a lot of material out there for financial markets and Reserve Bank watchers to get their teeth into. Today I won't be trying to add anything new to that, but rather, I'll base my presentation on our latest Statement, which was released last week.
The challenge in assessing the economic outlook at the moment is to weigh up the effects of contrasting domestic and international forces. Over the past few months the run of new information coming from abroad, at least in the major industrial economies, has been mostly bad. One important aspect of that is the deterioration in global equity markets, and the ongoing strains in credit markets. I'm not going to focus on those things today, but instead I'll focus on the evolving economic data.
Naturally, a lot of attention has focused on the United States (Graph 1). The fourth quarter national accounts confirmed a sharp slowdown in the US, and most expectations now are for a period of further weakness in the first half of this year. Some observers are saying the US is about to enter a recession, or is already in one.
Graph 1
What's driving the weakness most significantly is the downturn in the housing market. Housing starts are down by more than 50 per cent from their peak two years ago (Graph 2). Even though housing is typically only about 5 per cent of the economy, falls of this magnitude are a significant drag on growth. It's interesting to note that expenditure on US GDP excluding housing construction was still growing at a rate of 3½ per cent through the latest year (Graph 3). The problem is that a divergence of this size between the housing sector and the rest of the economy can't persist indefinitely, because the housing slowdown feeds back into employment, incomes and other forms of spending. Adding to the contractionary impact is a downturn in established house prices which, according to one major index are down about 9 per cent from their peak, and still falling (Graph 4). These forces, and the ongoing fall-out from the sub-prime crisis, could continue to dampen the US economy for a while yet.
Graph 2
Graph 3
Graph 4
On the other hand, it's important to note that there are some forces supporting growth. The US export sector is getting the benefit of a lower dollar; there's a significant fiscal package in the pipeline, which will add more than 1 per cent of GDP to private spending power; and sharp cuts have been made in US official interest rates, with financial markets expecting more to come. So the overall course of the US economy will depend on the net impact of all these forces. Opinions still differ as to how severe the US slowdown will be.
In varying degrees, the other major industrial economies are also experiencing a period of weakness. The important question is to what extent the weakness in the major industrial countries will affect China and the developing world. Up to now, the available indicators show the Chinese economy still growing strongly, at 11 per cent over the year to the December quarter (Graph 5). Chinese export growth did slow towards the end of last year, but only from around 30 to around 25 per cent, and, in any case, the bulk of China's growth is being driven by domestic demand. I note in passing that, on the latest data we have, the Indian economy is also growing well, though we don't yet have fourth quarter figures. And of course, both these strongly growing economies are now a bigger share of world and trading partner GDP than they were in previous business cycles.
Graph 5
Elsewhere in east Asia, conditions seem to have remained firm through to the end of last year. Growth in industrial production picked up during the course of last year, as did export growth, probably a result of rising Chinese demand (Graph 6).
Graph 6
Despite these continuing signs of strength, it's still likely that a generalised slowdown in the major industrial countries will have some dampening effect on the Asian region, and on other parts of the developing world. The most obvious channel for this to happen is through trade linkages, but these effects are probably not large enough on their own to generate a sharp slowdown in the developing world. Bigger effects would be seen if there were direct spillovers from recent events into developing-countries' financial systems. But while there has been some spillover of equity market weakness, the difficulties in credit markets at this stage have been mainly confined to the industrial countries.
Drawing all of this together, the RBA is forecasting that growth in Australia's trading partners will slow to a below-trend rate this year and next (Graph 7). This incorporates very weak growth in the G7 economies, comparable to the rates seen in the early part of this decade. Growth in our other trading partners is also forecast to slow down from last year, but unlike in the G7 countries, we expect their growth rates to stay relatively strong. Overall, trading partner growth is forecast at just under 4 per cent for each of the next two years, which is down from the 5 per cent pace seen in 2007. This outlook is a little softer than the outlook published by the IMF in late January.
Graph 7
The other important aspect of the international environment is the outlook for commodity prices and Australia's terms of trade (Graph 8). For the last four years, our terms of trade have risen at a rate of about 8 per cent per annum. This is the largest cumulative run-up since the 1950s, and a big source of stimulus to domestic incomes and spending. Developments over the latest year have been more mixed. Base metals prices have come off their peaks, by an average of about 30 per cent, though they're still high compared to earlier history. On the other hand, markets for coal and iron ore have tightened further, and big rises in this year's contract prices are widely expected. Rural prices have also been rising. Based on these developments, we expect Australia's terms of trade to rise by another 5 per cent or so this year, but to fall gradually thereafter (Graph 9).
Graph 8
Graph 9
As I said at the outset, the striking thing about the current situation is the contrast between domestic and international conditions. The Australian economy to date has stayed robust, and the main domestic challenges are those of strong demand, tight capacity and inflationary pressures. I'll outline some of the main features of all that and then finish up with the RBA's domestic forecasts.
The latest national accounts are now a bit dated, but they show a high rate of growth, over the year to the September quarter, of just over 4 per cent (Graph 10). Growth of domestic spending was even higher, at 5½ per cent. It's often the case in reading economic data that we get conflicting signals that make it hard to judge the overall pace of the economy. We had a period like that a year or two ago, when GDP growth was estimated to be quite low but other indicators, like business survey results and employment growth, were pointing to stronger outcomes. But in the more recent period we're getting a fairly consistent picture of strong growth, at least up to the September quarter.
Graph 10
More recent indicators seem to point to further growth. Retail sales posted a big rise in the December quarter (Graph 11). The value of sales over the latest year was up by 8 per cent, which was the fastest rate since 2004. Employment growth in the past few months has continued at an above-average rate, and the job vacancy rate rose further. Spending on imports has picked up, which can be taken as a general sign of strong demand. And most of the business surveys reported good trading conditions in the December quarter. An average of the results from the major surveys shows conditions were moderating in the second half of last year, after a strong first half, but they were still at a high level at the end of the year (Graph 12).
(RBA) Malcolm Edey - Economic and Political Overview 2008
Talk to CEDA Economic and Political Overview 2008
Malcolm EdeyAssistant Governor (Economic)
Committee for Economic Development of Australia (CEDA)Economic and Political Overview 2008Sydney - 19 February 2008
Thanks to CEDA for the invitation to speak here today.
Since the last time I spoke at this event, the RBA has taken a number of steps to increase the amount of information it makes available to the public, both about its policy processes, and its thinking about the economy. We now issue a monthly statement after each Board meeting, setting out the reasons for the latest decision, whether or not the interest rate is being changed. Minutes of the Board meetings are now also published, and they give additional detail on the matters that were considered and the reasoning behind the decision. And those of you who follow these things closely would know that we've increased the level of detail in the economic forecasts set out in our quarterly Statement on Monetary Policy.
So there's a lot of material out there for financial markets and Reserve Bank watchers to get their teeth into. Today I won't be trying to add anything new to that, but rather, I'll base my presentation on our latest Statement, which was released last week.
The challenge in assessing the economic outlook at the moment is to weigh up the effects of contrasting domestic and international forces. Over the past few months the run of new information coming from abroad, at least in the major industrial economies, has been mostly bad. One important aspect of that is the deterioration in global equity markets, and the ongoing strains in credit markets. I'm not going to focus on those things today, but instead I'll focus on the evolving economic data.
Naturally, a lot of attention has focused on the United States (Graph 1). The fourth quarter national accounts confirmed a sharp slowdown in the US, and most expectations now are for a period of further weakness in the first half of this year. Some observers are saying the US is about to enter a recession, or is already in one.
Graph 1
What's driving the weakness most significantly is the downturn in the housing market. Housing starts are down by more than 50 per cent from their peak two years ago (Graph 2). Even though housing is typically only about 5 per cent of the economy, falls of this magnitude are a significant drag on growth. It's interesting to note that expenditure on US GDP excluding housing construction was still growing at a rate of 3½ per cent through the latest year (Graph 3). The problem is that a divergence of this size between the housing sector and the rest of the economy can't persist indefinitely, because the housing slowdown feeds back into employment, incomes and other forms of spending. Adding to the contractionary impact is a downturn in established house prices which, according to one major index are down about 9 per cent from their peak, and still falling (Graph 4). These forces, and the ongoing fall-out from the sub-prime crisis, could continue to dampen the US economy for a while yet.
Graph 2
Graph 3
Graph 4
On the other hand, it's important to note that there are some forces supporting growth. The US export sector is getting the benefit of a lower dollar; there's a significant fiscal package in the pipeline, which will add more than 1 per cent of GDP to private spending power; and sharp cuts have been made in US official interest rates, with financial markets expecting more to come. So the overall course of the US economy will depend on the net impact of all these forces. Opinions still differ as to how severe the US slowdown will be.
In varying degrees, the other major industrial economies are also experiencing a period of weakness. The important question is to what extent the weakness in the major industrial countries will affect China and the developing world. Up to now, the available indicators show the Chinese economy still growing strongly, at 11 per cent over the year to the December quarter (Graph 5). Chinese export growth did slow towards the end of last year, but only from around 30 to around 25 per cent, and, in any case, the bulk of China's growth is being driven by domestic demand. I note in passing that, on the latest data we have, the Indian economy is also growing well, though we don't yet have fourth quarter figures. And of course, both these strongly growing economies are now a bigger share of world and trading partner GDP than they were in previous business cycles.
Graph 5
Elsewhere in east Asia, conditions seem to have remained firm through to the end of last year. Growth in industrial production picked up during the course of last year, as did export growth, probably a result of rising Chinese demand (Graph 6).
Graph 6
Despite these continuing signs of strength, it's still likely that a generalised slowdown in the major industrial countries will have some dampening effect on the Asian region, and on other parts of the developing world. The most obvious channel for this to happen is through trade linkages, but these effects are probably not large enough on their own to generate a sharp slowdown in the developing world. Bigger effects would be seen if there were direct spillovers from recent events into developing-countries' financial systems. But while there has been some spillover of equity market weakness, the difficulties in credit markets at this stage have been mainly confined to the industrial countries.
Drawing all of this together, the RBA is forecasting that growth in Australia's trading partners will slow to a below-trend rate this year and next (Graph 7). This incorporates very weak growth in the G7 economies, comparable to the rates seen in the early part of this decade. Growth in our other trading partners is also forecast to slow down from last year, but unlike in the G7 countries, we expect their growth rates to stay relatively strong. Overall, trading partner growth is forecast at just under 4 per cent for each of the next two years, which is down from the 5 per cent pace seen in 2007. This outlook is a little softer than the outlook published by the IMF in late January.
Graph 7
The other important aspect of the international environment is the outlook for commodity prices and Australia's terms of trade (Graph 8). For the last four years, our terms of trade have risen at a rate of about 8 per cent per annum. This is the largest cumulative run-up since the 1950s, and a big source of stimulus to domestic incomes and spending. Developments over the latest year have been more mixed. Base metals prices have come off their peaks, by an average of about 30 per cent, though they're still high compared to earlier history. On the other hand, markets for coal and iron ore have tightened further, and big rises in this year's contract prices are widely expected. Rural prices have also been rising. Based on these developments, we expect Australia's terms of trade to rise by another 5 per cent or so this year, but to fall gradually thereafter (Graph 9).
Graph 8
Graph 9
As I said at the outset, the striking thing about the current situation is the contrast between domestic and international conditions. The Australian economy to date has stayed robust, and the main domestic challenges are those of strong demand, tight capacity and inflationary pressures. I'll outline some of the main features of all that and then finish up with the RBA's domestic forecasts.
The latest national accounts are now a bit dated, but they show a high rate of growth, over the year to the September quarter, of just over 4 per cent (Graph 10). Growth of domestic spending was even higher, at 5½ per cent. It's often the case in reading economic data that we get conflicting signals that make it hard to judge the overall pace of the economy. We had a period like that a year or two ago, when GDP growth was estimated to be quite low but other indicators, like business survey results and employment growth, were pointing to stronger outcomes. But in the more recent period we're getting a fairly consistent picture of strong growth, at least up to the September quarter.
Graph 10
More recent indicators seem to point to further growth. Retail sales posted a big rise in the December quarter (Graph 11). The value of sales over the latest year was up by 8 per cent, which was the fastest rate since 2004. Employment growth in the past few months has continued at an above-average rate, and the job vacancy rate rose further. Spending on imports has picked up, which can be taken as a general sign of strong demand. And most of the business surveys reported good trading conditions in the December quarter. An average of the results from the major surveys shows conditions were moderating in the second half of last year, after a strong first half, but they were still at a high level at the end of the year (Graph 12).
Tuesday, February 19, 2008
PAkistan Election
Nawaz calls President Musharraf to step down:
LAHORE: Muslim League-N leader Nawaz Sharif Tuesday called President Musharraf to step down from office. He said the decision about eligibility of President Musharraf should be taken from the same court that was hearing the case. Addressing press briefing in Lahore Nawaz said the freedom of judiciary and democracy are the foremost targets of his agenda. He said he was talking with all parties for formation of the government. The PML-N leader said after restoration of the judiciary it would be decided whether Musharraf’s election as president is legal or not. He said the judiciary could not regain its freedom without restoration of the deposed judges. He also demanded release of all detained lawyers.He said the matter of Dr. Abdul Qadeer would also be reconsidered.Nawaz said he would meet the Co-chairman f Pakistan Peoples Party Asif Ali Zardari in a day or two to discuss all concerned matters. He said he was in contact with ANP’s Asfandyar Wali to discuss all options for the formation of the coalition government.
Sharif also his party would lead a coalition government in Punjab and all parties will be consulted on the matter. He said the PCO of Nov 3, 2007 has to be nullified and the judges will have to be reinstated. On question of the president, he said the restored judiciary can abjudicate over legality of president's election. He said he expects the army to abide by the constitution and law.Nawaz said he is committed to upholding his agenda of upholding democracy, rule of law, sovereignty, independence of judiciary.Lauding media role and its
Nawaz calls President Musharraf to step down:
LAHORE: Muslim League-N leader Nawaz Sharif Tuesday called President Musharraf to step down from office. He said the decision about eligibility of President Musharraf should be taken from the same court that was hearing the case. Addressing press briefing in Lahore Nawaz said the freedom of judiciary and democracy are the foremost targets of his agenda. He said he was talking with all parties for formation of the government. The PML-N leader said after restoration of the judiciary it would be decided whether Musharraf’s election as president is legal or not. He said the judiciary could not regain its freedom without restoration of the deposed judges. He also demanded release of all detained lawyers.He said the matter of Dr. Abdul Qadeer would also be reconsidered.Nawaz said he would meet the Co-chairman f Pakistan Peoples Party Asif Ali Zardari in a day or two to discuss all concerned matters. He said he was in contact with ANP’s Asfandyar Wali to discuss all options for the formation of the coalition government.
Sharif also his party would lead a coalition government in Punjab and all parties will be consulted on the matter. He said the PCO of Nov 3, 2007 has to be nullified and the judges will have to be reinstated. On question of the president, he said the restored judiciary can abjudicate over legality of president's election. He said he expects the army to abide by the constitution and law.Nawaz said he is committed to upholding his agenda of upholding democracy, rule of law, sovereignty, independence of judiciary.Lauding media role and its
Sunday, February 17, 2008
US election at-a-glance:
DAY IN A NUTSHELL
Civil rights leader and Georgia congressman John Lewis - previously a supporter of Hillary Clinton - declares that in his role as a superdelegate he will vote for Barack Obama at the Democratic convention, the New York Times reports. Hillary Clinton's campaign releases another advertisement in Wisconsin accusing Mr Obama of dodging televised debates in the state. John McCain and Mike Huckabee campaign hard in Wisconsin.
KEY QUOTES
"If Lewis breaks away, take whatever you thought Clinton's chances of winning the nomination before and divide that number by as much as two - those would be the odds of her winning now."Time's Mark Halperin on John Lewis's decision to back Barack Obama at the convention
He's going around issuing promissory notes on the future that he can't possibly redeem
Charles Krauthammer on Barack ObamaWashington Post
"I am a candidate of, from and for the middle class of America."Hillary Clinton
"Obama has an astonishingly empty paper trail. He's going around issuing promissory notes on the future that he can't possibly redeem."Charles Krauthammer, Washington Post
"You can bet my father would be itching to get out on the campaign trail working to elect him even if he disagreed with him on a number of issues."Michael Reagan, son of Ronald, believes his father would have backed John McCain.
"[The rock band] Boston has never endorsed a political candidate, and with all due respect, would not start by endorsing a candidate who is the polar opposite of most everything Boston stands for."Tom Scholz, founder of the band Boston, objects to Mike Huckabee's use of the Boston song "More Than a Feeling" on the campaign trail
NUMBER NEWS
Two polls of Texan voters published today paint very different pictures of the state of the race in the Lonestar State.
A Rasmussen poll suggests that Hillary Clinton has a comfortable lead in Texas, with 54% to Barack Obama's 38%.
But an ARG poll, also published today, gives Mr Obama the lead in Texas, with 48% to Mrs Clinton's 42%.
Mrs Clinton is relying on a win in Texas on 4 March to regain the initiative in the race, after Mr Obama's run of victories in February, so she will be hoping that the Rasmussen poll is nearer to the truth than the ARG survey.
Both Rasmussen and ARG agree that in the Republican race in Texas, John McCain has a modest lead over Mike Huckabee.
Rasmussen has Mr McCain on 45%, to Mr Huckabee's 37%, while ARG has Mr McCain on 42%, six points ahead of Mr Huckabee on 36%.
DAY IN A NUTSHELL
Civil rights leader and Georgia congressman John Lewis - previously a supporter of Hillary Clinton - declares that in his role as a superdelegate he will vote for Barack Obama at the Democratic convention, the New York Times reports. Hillary Clinton's campaign releases another advertisement in Wisconsin accusing Mr Obama of dodging televised debates in the state. John McCain and Mike Huckabee campaign hard in Wisconsin.
KEY QUOTES
"If Lewis breaks away, take whatever you thought Clinton's chances of winning the nomination before and divide that number by as much as two - those would be the odds of her winning now."Time's Mark Halperin on John Lewis's decision to back Barack Obama at the convention
He's going around issuing promissory notes on the future that he can't possibly redeem
Charles Krauthammer on Barack ObamaWashington Post
"I am a candidate of, from and for the middle class of America."Hillary Clinton
"Obama has an astonishingly empty paper trail. He's going around issuing promissory notes on the future that he can't possibly redeem."Charles Krauthammer, Washington Post
"You can bet my father would be itching to get out on the campaign trail working to elect him even if he disagreed with him on a number of issues."Michael Reagan, son of Ronald, believes his father would have backed John McCain.
"[The rock band] Boston has never endorsed a political candidate, and with all due respect, would not start by endorsing a candidate who is the polar opposite of most everything Boston stands for."Tom Scholz, founder of the band Boston, objects to Mike Huckabee's use of the Boston song "More Than a Feeling" on the campaign trail
NUMBER NEWS
Two polls of Texan voters published today paint very different pictures of the state of the race in the Lonestar State.
A Rasmussen poll suggests that Hillary Clinton has a comfortable lead in Texas, with 54% to Barack Obama's 38%.
But an ARG poll, also published today, gives Mr Obama the lead in Texas, with 48% to Mrs Clinton's 42%.
Mrs Clinton is relying on a win in Texas on 4 March to regain the initiative in the race, after Mr Obama's run of victories in February, so she will be hoping that the Rasmussen poll is nearer to the truth than the ARG survey.
Both Rasmussen and ARG agree that in the Republican race in Texas, John McCain has a modest lead over Mike Huckabee.
Rasmussen has Mr McCain on 45%, to Mr Huckabee's 37%, while ARG has Mr McCain on 42%, six points ahead of Mr Huckabee on 36%.
Brazil: Rio de Janeiro Mass Transit - Additional Financing
WASHINGTON, February 12, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD Loan: USD$44 million
Terms: Maturity= 15 years; Grace= 5 years < /font>
PROJECT DESCRIPTION: The main objectives of the project are: (a) to improve the quality of urban transport services in the Rio de Janeiro Metropolitan Region by enhancing the development of a fully integrated urban transport system; and (b) to substantially improve the level of service provided by the suburban railway while reducing the operating subsidies from the State through the substantial participation of the private sector in its operations and management.
For more information please call:
WASHINGTON, February 12, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD Loan: USD$44 million
Terms: Maturity= 15 years; Grace= 5 years < /font>
PROJECT DESCRIPTION: The main objectives of the project are: (a) to improve the quality of urban transport services in the Rio de Janeiro Metropolitan Region by enhancing the development of a fully integrated urban transport system; and (b) to substantially improve the level of service provided by the suburban railway while reducing the operating subsidies from the State through the substantial participation of the private sector in its operations and management.
For more information please call:
Low-Cost Laptops Planned
The OLPC project started as an attempt to build a US$100 laptop and work with governments to pass them out to kids in poor nations, but the XO, will likely end up costing nearly double that amount at first. The organizers of the effort, led by academics and researchers from the Massachusetts Institute of Technology (MIT), hope high-volume sales of the device will drive down costs.
The goal of OLPC is to make sure nobody misses out on the benefits of computing. The fear is that the price of a PC is keeping too many people in developing countries from learning how software, the Internet and communications via computing can improve their economies, job prospects and lives, or that poor countries will fall further behind the modern world due to their inability to access computers.
The OLPC project started as an attempt to build a US$100 laptop and work with governments to pass them out to kids in poor nations, but the XO, will likely end up costing nearly double that amount at first. The organizers of the effort, led by academics and researchers from the Massachusetts Institute of Technology (MIT), hope high-volume sales of the device will drive down costs.
The goal of OLPC is to make sure nobody misses out on the benefits of computing. The fear is that the price of a PC is keeping too many people in developing countries from learning how software, the Internet and communications via computing can improve their economies, job prospects and lives, or that poor countries will fall further behind the modern world due to their inability to access computers.
EUR/USD Grows on Trade Balance News
EUR/USD rose from 1.4575 to 1.4635 today after the news from the U. S. Department of Labor and the U. S. Census Bureau arrived. Despite them being better than expected, they failed to stop dollar or even stock markets from declining today.
Initial jobless claims for the last week went down from 357,000 to 348,000 — slightly better than it was expected by the markets (350,000).
Trade balance deficit in U.S. decreased in December from $63.1 billion to $58.8 billion — much better than it was expected ($61.5 billion). Exported grew by more than two billion dollar, while imports dropped by almost the same value.
EUR/USD rose from 1.4575 to 1.4635 today after the news from the U. S. Department of Labor and the U. S. Census Bureau arrived. Despite them being better than expected, they failed to stop dollar or even stock markets from declining today.
Initial jobless claims for the last week went down from 357,000 to 348,000 — slightly better than it was expected by the markets (350,000).
Trade balance deficit in U.S. decreased in December from $63.1 billion to $58.8 billion — much better than it was expected ($61.5 billion). Exported grew by more than two billion dollar, while imports dropped by almost the same value.
Poor U.S. Macroeconomics Push Dollar Down
This week ends far worse for dollar bulls than they may have expected. Only Wednesday was an uptrend day for the U.S. dollar, but it didn’t gain a lot that day. Friday brought in the break through the 1.4700 resistance level on EUR/USD. Some disappointing data on the net foreign purchases and the manufacturing survey were the most important causes of today’s dollar’s decline.
Export and import prices in January grew faster than expected and this can be a positive sign for U.S. economy. Export prices index increased 1.2%, while import prices index increased 1.7%. Expected levels of growth were 0.3% for both of them.
NY Empire State Index — compiled through a survey of manufacturing sector — showed a very sharp decline this month. It went down from 9.0 to -11.7. For the first time since May 2005 it slid down below the zero level .
Net foreign purchases of the long-term securities in December were at $56.5 billion, which is much lower than $76.0 billion expected. Now the inflow barely covers the U.S. trading deficit.
Industrial production and capacity utilization in January weren’t good or bad, they were at the same levels as they have been expected by the analysts. The industrial production grew by 0.1% (the same as in December), while the capacity utilization was at 81.5% (the same as revised December’s value).
This week ends far worse for dollar bulls than they may have expected. Only Wednesday was an uptrend day for the U.S. dollar, but it didn’t gain a lot that day. Friday brought in the break through the 1.4700 resistance level on EUR/USD. Some disappointing data on the net foreign purchases and the manufacturing survey were the most important causes of today’s dollar’s decline.
Export and import prices in January grew faster than expected and this can be a positive sign for U.S. economy. Export prices index increased 1.2%, while import prices index increased 1.7%. Expected levels of growth were 0.3% for both of them.
NY Empire State Index — compiled through a survey of manufacturing sector — showed a very sharp decline this month. It went down from 9.0 to -11.7. For the first time since May 2005 it slid down below the zero level .
Net foreign purchases of the long-term securities in December were at $56.5 billion, which is much lower than $76.0 billion expected. Now the inflow barely covers the U.S. trading deficit.
Industrial production and capacity utilization in January weren’t good or bad, they were at the same levels as they have been expected by the analysts. The industrial production grew by 0.1% (the same as in December), while the capacity utilization was at 81.5% (the same as revised December’s value).
Saturday, February 16, 2008
China'economic impact - World Bank s storms to have limited
BEIJING (XFN-ASIA) - The recent winter storms are likely to have only a short-term impact on China's economy this year, and could even stimulate domestic investment, said an economist with the World Bank.
Louis Kuijs, economist and main author of the bank's quarterly update on the Chinese economy, told journalists that most of the impact of the storms -- including rising food prices and a decline in industrial output over January and February -- will turn out to be temporary, and that there "could be some pick-up (later in the year) as investment takes place to solve the bottlenecks"
Although a number of economists have lowered their forecasts for China's economic growth this year in response to the mayhem caused by the coldest winter in a century, the World Bank has maintained its estimate of 9.6 pct GDP growth in 2008.
"Natural disasters normally call for economic activity to repair the damage," said David Dollar, the head of the bank's China office.
BEIJING (XFN-ASIA) - The recent winter storms are likely to have only a short-term impact on China's economy this year, and could even stimulate domestic investment, said an economist with the World Bank.
Louis Kuijs, economist and main author of the bank's quarterly update on the Chinese economy, told journalists that most of the impact of the storms -- including rising food prices and a decline in industrial output over January and February -- will turn out to be temporary, and that there "could be some pick-up (later in the year) as investment takes place to solve the bottlenecks"
Although a number of economists have lowered their forecasts for China's economic growth this year in response to the mayhem caused by the coldest winter in a century, the World Bank has maintained its estimate of 9.6 pct GDP growth in 2008.
"Natural disasters normally call for economic activity to repair the damage," said David Dollar, the head of the bank's China office.
Tuesday, February 12, 2008
. Then, to perform your actual trades online you need a real-time 'trading platform' to execute your 'buys' and 'sells' directly in the Foreign Currency Market. You obtain a trading platform from a Forex Clearinghouse that is connected real-time to the interbank market. There are many good Clearinghouses (also confusingly called Brokerage Firms, Market Makers, etc.) that provide you with the trading platform to trade the funds in the account you have opened with them. Before you begin trading your 'real' money, while you are learning, you will practice on your own 'demo account' with play-money in it, which will be provided to you by the clearinghouse you plan to trade through. The contractual relationship you enter into with your Clearinghouse is a very important one because the Clearinghouse you choose determines many trading features and financial advantages to you both as a trader and as an investor. Forex-Trader tested Clearinghouses are reviewed in Tools of The Trade.
We have outlined a Getting Started path with uncomplicated steps. This is the path that we would take if we were beginning trading over again today with 'what we know now'. The products and services we mention in these steps are all ones that we have personally used for some time with consistent success. As always you are free to forge your own path, and if you do, happy hiking. There is a mountain of products and services try out, and if you find ones you like better we would love to compare notes with you
We have outlined a Getting Started path with uncomplicated steps. This is the path that we would take if we were beginning trading over again today with 'what we know now'. The products and services we mention in these steps are all ones that we have personally used for some time with consistent success. As always you are free to forge your own path, and if you do, happy hiking. There is a mountain of products and services try out, and if you find ones you like better we would love to compare notes with you
While you are learning you will need charting software to practice reading the Market. Charting is an indispensable tool that shows you in real-time data what the market is doing moment by moment and also what the market has done in the past. As you learn to analyze these charts you can determine what trades to enter and exit, where to set your stop losses, limits etc. There are several good charting software services that you can subscribe to online monthly. See our Forex-Trader tested Charting Software picks in Tools of The Trade.
The best advice on how to learn to trade profitably is to learn from experts with proven track records. Many learning styles are available to beginners at all levels: books, CDs, online courses, group seminars, even one-on-one mentors who will come right your home for a few days. We outline our Forex-Trader picks in Learning Forex Trading. Learning to trade from experts is worth every penny and has saved us untold thousands in mistakes. We would not recommend starting forex trading without any training. It is not hard to learn, nor difficult to trade successfully, but you must first provide yourself with a basic functioning knowledge of 'the game you're in'.
need to come to... not just producing commodities, but adding value to their own product and starting to think about the consumer and how to bridge that gap," says Horgan.
After a year or two of looking for something to add value to their product, the Haags and Rupprechts came across the BYB program and decided to try it. Direct marketing training was one of many steps the two families took in starting Chosen Acres Premium Beef.
Pricing products, developing a logo, designing fliers and ordering boxes were a few details they had to address. They also worked with the Minnesota Department of Agriculture to get a food handling license, and with the small business development center in Rochester, MN, for help with other business aspects.
"It's added a lot of labor, but it's been positive in that we're getting more for our steers," says Tammy.
Besides boxed assortments of steaks, roasts, kabob meat, ground beef and hamburger patties, Chosen Acres sells quarters, halves and whole beef. They offer some hormone-free beef, too.
For quarters, halves and whole beef, the consumer pays for the processing and Chosen Acres charges from $1.20/lb. to $1.35/lb. hanging weight. That's approximately 20-35 cents more than what the packer pays them per pound of hanging weight
After a year or two of looking for something to add value to their product, the Haags and Rupprechts came across the BYB program and decided to try it. Direct marketing training was one of many steps the two families took in starting Chosen Acres Premium Beef.
Pricing products, developing a logo, designing fliers and ordering boxes were a few details they had to address. They also worked with the Minnesota Department of Agriculture to get a food handling license, and with the small business development center in Rochester, MN, for help with other business aspects.
"It's added a lot of labor, but it's been positive in that we're getting more for our steers," says Tammy.
Besides boxed assortments of steaks, roasts, kabob meat, ground beef and hamburger patties, Chosen Acres sells quarters, halves and whole beef. They offer some hormone-free beef, too.
For quarters, halves and whole beef, the consumer pays for the processing and Chosen Acres charges from $1.20/lb. to $1.35/lb. hanging weight. That's approximately 20-35 cents more than what the packer pays them per pound of hanging weight
Like most folks who raise livestock, Glen and Tammy Haag and her parents Dave and Kathy Rupprecht aren't strangers to risk. But last year they took a different kind of risk with their 500-head cattle operation in Lewiston, MN.
They bought a truck, a trailer, a walk-in freezer and a sign that reads "Chosen Acres Premium Beef." Then, they started asking people in their community to buy beef directly from them.
"It's a different kind of risk when you get more involved with the consumer and the farm-to-table process. It also requires different skills," says Peter Reese, a sales and marketing consultant who teaches a four-part seminar series for producers as part of Branding Your Beliefs (BYB), a program that helps livestock producers aggressively market their products directly to consumers.
"It requires that (producers) get busy and get in touch with the market rather than just get angry about... the disparity between stockyard prices and consumer prices," Reese adds.
Kathy Horgan, a senior project officer for Land O' Lakes International Development Division, one of four sponsors of the BYB program, agrees.
They bought a truck, a trailer, a walk-in freezer and a sign that reads "Chosen Acres Premium Beef." Then, they started asking people in their community to buy beef directly from them.
"It's a different kind of risk when you get more involved with the consumer and the farm-to-table process. It also requires different skills," says Peter Reese, a sales and marketing consultant who teaches a four-part seminar series for producers as part of Branding Your Beliefs (BYB), a program that helps livestock producers aggressively market their products directly to consumers.
"It requires that (producers) get busy and get in touch with the market rather than just get angry about... the disparity between stockyard prices and consumer prices," Reese adds.
Kathy Horgan, a senior project officer for Land O' Lakes International Development Division, one of four sponsors of the BYB program, agrees.
Sunday, January 20, 2008
Forex And Daytrading
Online trading is great way for serious investors to make money, but inexperienced traders often wind up with big losses. A good set of instructions can minimize the risks and save months of expensive trial-and-error learning. Day Trading Day Trading had its heyday during the bull market of the 1990's. All the amateurs have since dropped out, but day trading is still being practiced by professionals. There are fewer opportunities in the current market, but skilled investors can still find them if they know what to look for. FOREX Trading The Foreign Exchange Market (FOREX), the world's largest financial exchange market, originated in 1973. It has a daily turnover of currency worth more than $1.2 trillion dollars. Unlike many other securities, FOREX does not trade on a fixed exchange rate; instead, currencies are traded primarily between central banks, commercial banks, various non-banking international corporations, hedge funds, personal investors and not to forget, speculators. Previously, smaller investors were excluded from FOREX due to the huge amount of deposit involved. This was changed in 1995, and now smaller investors can trade alongside the multi-nationals. As a result, the number of traders within the FOREX market has grown rapidly, and many FOREX courses are appearing to help individual traders increase their skills. As a matter of fact, it's advisable to take FOREX training even before opening a trading account. It is vital to know the market mechanics of FOREX, leveraging in FOREX, rollovers and the analysis of the FOREX market. Due to this fact, potential FOREX traders would do well to either enroll in a FOREX training courses or even purchase some books regarding FOREX trading.
Online trading is great way for serious investors to make money, but inexperienced traders often wind up with big losses. A good set of instructions can minimize the risks and save months of expensive trial-and-error learning. Day Trading Day Trading had its heyday during the bull market of the 1990's. All the amateurs have since dropped out, but day trading is still being practiced by professionals. There are fewer opportunities in the current market, but skilled investors can still find them if they know what to look for. FOREX Trading The Foreign Exchange Market (FOREX), the world's largest financial exchange market, originated in 1973. It has a daily turnover of currency worth more than $1.2 trillion dollars. Unlike many other securities, FOREX does not trade on a fixed exchange rate; instead, currencies are traded primarily between central banks, commercial banks, various non-banking international corporations, hedge funds, personal investors and not to forget, speculators. Previously, smaller investors were excluded from FOREX due to the huge amount of deposit involved. This was changed in 1995, and now smaller investors can trade alongside the multi-nationals. As a result, the number of traders within the FOREX market has grown rapidly, and many FOREX courses are appearing to help individual traders increase their skills. As a matter of fact, it's advisable to take FOREX training even before opening a trading account. It is vital to know the market mechanics of FOREX, leveraging in FOREX, rollovers and the analysis of the FOREX market. Due to this fact, potential FOREX traders would do well to either enroll in a FOREX training courses or even purchase some books regarding FOREX trading.
Day Trading – The Ultimate Work-From-Home Job?
Ever dreamt of giving up the daily grind? Want to strike out on your own and work from home, but don’t know what you could possibly do to make a living? Full time Nasdaq trader Harvey Walsh wondered just that, and now he asks “Is day trading the ultimate work from home job”?
We’ve probably all had the same thought at some time or another, as we trudge off towards another day at work – the same work we’ve been doing day in day out for years – “surely there has to be a better way?” Slaving away to make somebody else rich just doesn’t seem right somehow, but what alternative? Setting up a new business, or buying an established one, are both expensive and risky prospects. So how can the disenchanted employee ever hope to make the switch from wage-slave to total independence?
Those are thoughts I had almost every day, before I quit the safety of full time employment and decided to strike out on my own. I asked myself the same question day in and day out; surely there has to be a better way. What about the internet, I wondered, isn’t that supposed to be bringing new and exciting opportunities to all? I researched a lot of so-called work-from-home opportunities that promised untold riches, apparently mine for the taking just by sitting in front of my PC. Needless to say, in reality those schemes turned out to be about as fulfilling as, well, filling envelopes for a living. No, I knew there had to be another way – something real – something where I could be in control of my own destiny.
And then one morning on the train to work, I read about a couple of Wall Street boys who had struck it rich thanks to some huge bonuses, and were now going it alone setting up their own day trading shop. That was when I discovered day trading, and I realised that this was exactly the opportunity I had been searching for. I decided there and then that I was going to make a full time living from the stock markets, whatever it took to succeed.
The advantages of day trading as a job are numerous to say the least; there is no boss to answer to, no customers to satisfy, no suppliers to let you down, no waiting for invoices to be paid, I could go on. In fact, I will: trading is a location-independent activity – I can work from anywhere with an internet connection, which effectively means anywhere in the world with a telephone line. I regularly trade from my laptop whilst travelling. I can trade when I feel like it, and take time off when I like, which means I can spend quality time with my family.
Now let’s get this straight, trading can be a risky activity, there is no doubt about that. So is driving a car to work, but the risks of getting from A to B on four wheels are well understood and are managed accordingly, to the point where we don’t think twice about getting behind the wheel. And in the same way, provided a trader is disciplined in their approach to the job at hand, and understands the associated risks of the work, so those risks can be managed
Ever dreamt of giving up the daily grind? Want to strike out on your own and work from home, but don’t know what you could possibly do to make a living? Full time Nasdaq trader Harvey Walsh wondered just that, and now he asks “Is day trading the ultimate work from home job”?
We’ve probably all had the same thought at some time or another, as we trudge off towards another day at work – the same work we’ve been doing day in day out for years – “surely there has to be a better way?” Slaving away to make somebody else rich just doesn’t seem right somehow, but what alternative? Setting up a new business, or buying an established one, are both expensive and risky prospects. So how can the disenchanted employee ever hope to make the switch from wage-slave to total independence?
Those are thoughts I had almost every day, before I quit the safety of full time employment and decided to strike out on my own. I asked myself the same question day in and day out; surely there has to be a better way. What about the internet, I wondered, isn’t that supposed to be bringing new and exciting opportunities to all? I researched a lot of so-called work-from-home opportunities that promised untold riches, apparently mine for the taking just by sitting in front of my PC. Needless to say, in reality those schemes turned out to be about as fulfilling as, well, filling envelopes for a living. No, I knew there had to be another way – something real – something where I could be in control of my own destiny.
And then one morning on the train to work, I read about a couple of Wall Street boys who had struck it rich thanks to some huge bonuses, and were now going it alone setting up their own day trading shop. That was when I discovered day trading, and I realised that this was exactly the opportunity I had been searching for. I decided there and then that I was going to make a full time living from the stock markets, whatever it took to succeed.
The advantages of day trading as a job are numerous to say the least; there is no boss to answer to, no customers to satisfy, no suppliers to let you down, no waiting for invoices to be paid, I could go on. In fact, I will: trading is a location-independent activity – I can work from anywhere with an internet connection, which effectively means anywhere in the world with a telephone line. I regularly trade from my laptop whilst travelling. I can trade when I feel like it, and take time off when I like, which means I can spend quality time with my family.
Now let’s get this straight, trading can be a risky activity, there is no doubt about that. So is driving a car to work, but the risks of getting from A to B on four wheels are well understood and are managed accordingly, to the point where we don’t think twice about getting behind the wheel. And in the same way, provided a trader is disciplined in their approach to the job at hand, and understands the associated risks of the work, so those risks can be managed
Yes, You Can Start Trading Forex For Free!
Yes, it’s true, you can trade the forex markets for free and using the same state-of-the-art software packages that professional Forex traders, around the world, are currently using to make real-time, live currency trades. And you can also experience the same dynamic market action and go through the same process of making decisions based on breaking news, reacting to charting patterns, and tracking ones performance the same way professional Forex traders do. And all this can be done even if you don't put any real money into your account, you won’t see any difference in how the market behaves and how you react to the market. In short, at some point, every new forex trader needs to start Demo-trading. Once you start placing demo trades, you will learn a lot about how Forex transactions are placed. I can’t emphasize you enough, that this is a very important step for you in order to be able to learn how to become a trader. A demo account allows one to become familiar with trading procedures, such as placing Market, Limit, Stop, OCO Orders without any risk. All dollar losses or gains on a demo account are imaginary but, as mentioned above, the trading experience you acquire is not. You should notice that making big gains in a demo-account does not guarantee profits in live trading; however, those who are not successful trading on paper rarely are successful when money is on the line. So, yes, just playing around and getting familiar with a demo account can be a great learning experience; however, you will not learn how to become a trader this way. You need to have a trading strategy. Once you sign up for a mini-demo account, you will need to try one of the trial charting packages from the broker you choose. Any demo software you choose will do because they all have the necessary indicator tools you need. Once you have downloaded the software you can then set up your demo account and start drawing trendlines, marking support & resistance levels, monitoring moving averages, etc. This is also a very good way to get used to how orders are placed. Once you have a real trading system, you will already know how to place orders properly.
Yes, it’s true, you can trade the forex markets for free and using the same state-of-the-art software packages that professional Forex traders, around the world, are currently using to make real-time, live currency trades. And you can also experience the same dynamic market action and go through the same process of making decisions based on breaking news, reacting to charting patterns, and tracking ones performance the same way professional Forex traders do. And all this can be done even if you don't put any real money into your account, you won’t see any difference in how the market behaves and how you react to the market. In short, at some point, every new forex trader needs to start Demo-trading. Once you start placing demo trades, you will learn a lot about how Forex transactions are placed. I can’t emphasize you enough, that this is a very important step for you in order to be able to learn how to become a trader. A demo account allows one to become familiar with trading procedures, such as placing Market, Limit, Stop, OCO Orders without any risk. All dollar losses or gains on a demo account are imaginary but, as mentioned above, the trading experience you acquire is not. You should notice that making big gains in a demo-account does not guarantee profits in live trading; however, those who are not successful trading on paper rarely are successful when money is on the line. So, yes, just playing around and getting familiar with a demo account can be a great learning experience; however, you will not learn how to become a trader this way. You need to have a trading strategy. Once you sign up for a mini-demo account, you will need to try one of the trial charting packages from the broker you choose. Any demo software you choose will do because they all have the necessary indicator tools you need. Once you have downloaded the software you can then set up your demo account and start drawing trendlines, marking support & resistance levels, monitoring moving averages, etc. This is also a very good way to get used to how orders are placed. Once you have a real trading system, you will already know how to place orders properly.
How To Win In Futures Trading With This Simple Tactic
Surprisingly, many profitable speculators have success rates between 30% and 50%. Futures traders are not successful because they predict prices well. They`re winning because their profitable trades far exceed their losses. The truth of the matter is all Futures systems win and lose. Psychologically, this can make following a system difficult. Futures market professionals achieve success in this environment by controlling risk with money management rules. But, controlling risk goes against our natural tendencies. Most Futures traders don`t want to manage risk, they want to be right. Despite the proven fact that money management is so important, when Futures traders first come to me, many of my clients focus their time looking for the perfect entry. It`s their search for the Holy Grail. They want a perfect Futures indicator. Not only is this Futures indicator going to get them in right at the bottom of the trend, but it`s also going to tell them at the exact point at the top of the trend when to get out. Here`s the best part and about this indicator: apparently, it can guarantee success and it`s never, ever wrong. Unfortunately, though I don`t like to disappoint my clients, I need to let them know the hard truth. It does not matter whether you are trading in the Futures or any other market, the simple fact is this; there is no perfect indicator. Instead, there are carefully set money management rules that will place you in control. With this control, you`ll be able to follow the two cardinal rules in your Futures trading – you`ll be able to let your profits run and cut your losses short. Once these money management rules are in place your system can be set on autopilot. You won`t need to worry… "Should I be holding this stock?"
Surprisingly, many profitable speculators have success rates between 30% and 50%. Futures traders are not successful because they predict prices well. They`re winning because their profitable trades far exceed their losses. The truth of the matter is all Futures systems win and lose. Psychologically, this can make following a system difficult. Futures market professionals achieve success in this environment by controlling risk with money management rules. But, controlling risk goes against our natural tendencies. Most Futures traders don`t want to manage risk, they want to be right. Despite the proven fact that money management is so important, when Futures traders first come to me, many of my clients focus their time looking for the perfect entry. It`s their search for the Holy Grail. They want a perfect Futures indicator. Not only is this Futures indicator going to get them in right at the bottom of the trend, but it`s also going to tell them at the exact point at the top of the trend when to get out. Here`s the best part and about this indicator: apparently, it can guarantee success and it`s never, ever wrong. Unfortunately, though I don`t like to disappoint my clients, I need to let them know the hard truth. It does not matter whether you are trading in the Futures or any other market, the simple fact is this; there is no perfect indicator. Instead, there are carefully set money management rules that will place you in control. With this control, you`ll be able to follow the two cardinal rules in your Futures trading – you`ll be able to let your profits run and cut your losses short. Once these money management rules are in place your system can be set on autopilot. You won`t need to worry… "Should I be holding this stock?"
Is Trading E-Currency a Legitimate Business?
When I first came across the e-currency trading business on the advice of a friend, I didn't take the opportunity very seriously. It appeared to be just another "hyped up money making scheme." From what my friend was telling me it seemed too good to be true. However, being naturally curious and with a deep desire to profit from the internet, I decided to do some research on my own. The very first thing I did was run a search on e-currency scams. I was led to several online forums and was surprised to see that no one had lost money. I didn't detect any disgruntled e-currency traders, unlike some of the other investing opportunities such as forex, options, or commodity trading. I thought like most over-blown hyped up opportunities, I would eventually come upon some site or forum of unhappy customers. This didn't happen; in fact, the only gripe I saw was about the lack of information regarding the system. Most of the people were talking about the best way to make even more money trading e-currency. I was puzzled, I expected to see something bad, or worse. What I found was a lot of excited people saying how much money they are making. This opportunity seemed like it had the credibility I needed to make the jump. Lucky for me, my friend was already very successful trading e-currency. I was able to ask every question about the business that came to mind. Thanks to his generosity, I was soon on my way to trading e-currency and immediately began to see why he and others were so excited. After several months of trading e-currency, my initial investment had multiplied one hundred fold. This was too incredible to contain. I told everyone I knew how much money I was making. Pretty soon, I was swamped with questions from friends and family wanting private coaching through each step of the learning process. That's when it hit me. The issue with trading e-currency is not if you can make money, but how to effectively learn the exact steps necessary to profit in the shortest amount of time. Not everyone is as fortunate as I am, having a friend already successfully trading e-currency. After countless hours of research and through my own trial and error, I have discovered a formula to effectively and efficiently trade e-currency. With this system, you will master the e-currency trading business.
When I first came across the e-currency trading business on the advice of a friend, I didn't take the opportunity very seriously. It appeared to be just another "hyped up money making scheme." From what my friend was telling me it seemed too good to be true. However, being naturally curious and with a deep desire to profit from the internet, I decided to do some research on my own. The very first thing I did was run a search on e-currency scams. I was led to several online forums and was surprised to see that no one had lost money. I didn't detect any disgruntled e-currency traders, unlike some of the other investing opportunities such as forex, options, or commodity trading. I thought like most over-blown hyped up opportunities, I would eventually come upon some site or forum of unhappy customers. This didn't happen; in fact, the only gripe I saw was about the lack of information regarding the system. Most of the people were talking about the best way to make even more money trading e-currency. I was puzzled, I expected to see something bad, or worse. What I found was a lot of excited people saying how much money they are making. This opportunity seemed like it had the credibility I needed to make the jump. Lucky for me, my friend was already very successful trading e-currency. I was able to ask every question about the business that came to mind. Thanks to his generosity, I was soon on my way to trading e-currency and immediately began to see why he and others were so excited. After several months of trading e-currency, my initial investment had multiplied one hundred fold. This was too incredible to contain. I told everyone I knew how much money I was making. Pretty soon, I was swamped with questions from friends and family wanting private coaching through each step of the learning process. That's when it hit me. The issue with trading e-currency is not if you can make money, but how to effectively learn the exact steps necessary to profit in the shortest amount of time. Not everyone is as fortunate as I am, having a friend already successfully trading e-currency. After countless hours of research and through my own trial and error, I have discovered a formula to effectively and efficiently trade e-currency. With this system, you will master the e-currency trading business.
The 10 Golden Rules of Trading
1 Introduction In this article we cover the few important rules that should never be broken in trading. If you can apply these rules consistently, and with discipline, you will be well on the way to being a profitable trader. The rules we cover are: • Have specific goals and objectives • Be consistent and disciplined • Let profits run • Cut losses short • Never add to a losing trade • Don’t take too much risk • Only trade positive expectancy systems • Minimize all trading business costs • Be well educated • Don’t trade scared money Each of the rules will now be discussed. 2 The Golden Rules of Trading The following sections outline a set of rules that can significantly improve your chances of success if they are understood, practiced, and implemented consistently in your trading. These rules have been learned the hard way, by study, research, trial-and-error, and the inevitable mistakes that everyone makes when they start a trading business. We hope that you can learn from the work we have done, and benefit from our experience. The rules will now be discussed. 2.1 Have specific goals and objectives Few things are more important to your trading success than having set (i.e. written) goals and objective for what you are aiming to achieve. It is amazing to me how often we hit our targets, meet our objectives, and reach our goals only when we articulate them and write them down. For any business to be successful it must have measurable objectives that are actually achievable. In trading (obviously) the primary objective is to make money, but it is important to have other objectives that are not purely cash-related. We must always remember that reward and risk go hand-in-hand in trading and that we cannot expect to achieve high returns without planning for high risk (i.e. draw-downs). Your objectives and goals will be very specific to you, but they must have the following characteristics to be useful: • Be measurable (in completion and timeframe) • Be achievable • Be worthwhile • Be positive As an example, here are some of our current objectives (this is only a partial list): • Develop 2 new positive-expectancy trading systems each year • Make fewer errors implementing our trading systems each year • Achieve a return to maximum draw-down ratio of 1.5:1 • Take 2 weeks vacation each year Note that only one of them is about making money, and that has a measurable objective that is relative to draw-down, not absolute (i.e. make 100% per year). If you know what you are trying to achieve, and when you are trying to achieve it, the whole business will be focused on meeting your objectives and help guide you to only pay attention to things you really want to achieve with your limited time and resources. This will also give you a way to measure the success and progress of your trading. Generally traders with well-defined objectives will be much more successful than those that do not have pre-defined goals.
1 Introduction In this article we cover the few important rules that should never be broken in trading. If you can apply these rules consistently, and with discipline, you will be well on the way to being a profitable trader. The rules we cover are: • Have specific goals and objectives • Be consistent and disciplined • Let profits run • Cut losses short • Never add to a losing trade • Don’t take too much risk • Only trade positive expectancy systems • Minimize all trading business costs • Be well educated • Don’t trade scared money Each of the rules will now be discussed. 2 The Golden Rules of Trading The following sections outline a set of rules that can significantly improve your chances of success if they are understood, practiced, and implemented consistently in your trading. These rules have been learned the hard way, by study, research, trial-and-error, and the inevitable mistakes that everyone makes when they start a trading business. We hope that you can learn from the work we have done, and benefit from our experience. The rules will now be discussed. 2.1 Have specific goals and objectives Few things are more important to your trading success than having set (i.e. written) goals and objective for what you are aiming to achieve. It is amazing to me how often we hit our targets, meet our objectives, and reach our goals only when we articulate them and write them down. For any business to be successful it must have measurable objectives that are actually achievable. In trading (obviously) the primary objective is to make money, but it is important to have other objectives that are not purely cash-related. We must always remember that reward and risk go hand-in-hand in trading and that we cannot expect to achieve high returns without planning for high risk (i.e. draw-downs). Your objectives and goals will be very specific to you, but they must have the following characteristics to be useful: • Be measurable (in completion and timeframe) • Be achievable • Be worthwhile • Be positive As an example, here are some of our current objectives (this is only a partial list): • Develop 2 new positive-expectancy trading systems each year • Make fewer errors implementing our trading systems each year • Achieve a return to maximum draw-down ratio of 1.5:1 • Take 2 weeks vacation each year Note that only one of them is about making money, and that has a measurable objective that is relative to draw-down, not absolute (i.e. make 100% per year). If you know what you are trying to achieve, and when you are trying to achieve it, the whole business will be focused on meeting your objectives and help guide you to only pay attention to things you really want to achieve with your limited time and resources. This will also give you a way to measure the success and progress of your trading. Generally traders with well-defined objectives will be much more successful than those that do not have pre-defined goals.
The Stock Trading Plan
that discipline contributed more to their success than their trading philosophy itself. Remember that the key to any plan is how well it holds over time. 2. There is no "sure thing", and there is no trading system that is 100% accurate. Your goal, as a trader, is to usethe tools available and try to develop an edge. Base your trades on sound fundamental and technical reasoning, rather than on hunches and long shots. If you can develop an edge, however small, over time you will be successful. 3. A trader must be able to admit they have made a mistake. Do not become emotionally or financially committed to a losing trade. Avoid the pitfall of becoming emotionally involved with any trade. 4. An investing edge is only part of the equation. A trader should diversify sufficiently so that the growth in equity can be consistent and the likelihood of a catastrophic loss can be diminished. The lower the percentage of a traders' account dedicated to any one trade the greater the chance of the trader being successful. Even if the trader has a perceived investing edge, it is unwise to run the risk of ruin, and bet it all on one trade. The goal is not only to make money, but also to be able to continue to make money consistently for an extended period of time. A trader must learn the basic concepts and the importance of money management. 5. Lack of experience in the market causes many traders to make the mistake of taking small profits and letting losses run. Fundamental trading wisdom dictates the exact opposite. When in a winning trade, be patient and fully capitalize on the success. The trading axiom is, "cut your losses short and let your profits run". 6. A trading system does not have to be difficult, time consuming, complicated and stressful in order to be profitable. In trading systems, as in many other things in life, simple can be better 7. As a trader, be cautious, and never let greed take control of a winning position. 8. Be aware that declining volume usually indicates the market is not accepting higher or lower prices, and this could indicate a market turn. 9. Learn from your trading mistakes. Never make a trading mistake without asking yourself why. 10. Do not make trading decision based solely on margin requirements, and always trade within your capabilities. Remain true to your trading plan and follow the trading style that works best for you. 11. Do not trade markets that you don't understand. Trade with confidence and conviction. Trade only with risk capital and be aware of the risk of losing. Divide your capital into 6 equal parts and never risk more than one-tenth of your capital on any one trade. 12. After a long period of success or a period of profitable trades, try to avoid the natural tendency toward increasing your trading activity. Conversely, use self-discipline when a trade goes against your position. Take your loss and wait for another opportunity. Never increase your trading after a loss. 13. Avoid getting into the market because you are anxious from waiting and/or out of the market because you have lost your patience. Never over trade and adhere to your risk management rules
that discipline contributed more to their success than their trading philosophy itself. Remember that the key to any plan is how well it holds over time. 2. There is no "sure thing", and there is no trading system that is 100% accurate. Your goal, as a trader, is to usethe tools available and try to develop an edge. Base your trades on sound fundamental and technical reasoning, rather than on hunches and long shots. If you can develop an edge, however small, over time you will be successful. 3. A trader must be able to admit they have made a mistake. Do not become emotionally or financially committed to a losing trade. Avoid the pitfall of becoming emotionally involved with any trade. 4. An investing edge is only part of the equation. A trader should diversify sufficiently so that the growth in equity can be consistent and the likelihood of a catastrophic loss can be diminished. The lower the percentage of a traders' account dedicated to any one trade the greater the chance of the trader being successful. Even if the trader has a perceived investing edge, it is unwise to run the risk of ruin, and bet it all on one trade. The goal is not only to make money, but also to be able to continue to make money consistently for an extended period of time. A trader must learn the basic concepts and the importance of money management. 5. Lack of experience in the market causes many traders to make the mistake of taking small profits and letting losses run. Fundamental trading wisdom dictates the exact opposite. When in a winning trade, be patient and fully capitalize on the success. The trading axiom is, "cut your losses short and let your profits run". 6. A trading system does not have to be difficult, time consuming, complicated and stressful in order to be profitable. In trading systems, as in many other things in life, simple can be better 7. As a trader, be cautious, and never let greed take control of a winning position. 8. Be aware that declining volume usually indicates the market is not accepting higher or lower prices, and this could indicate a market turn. 9. Learn from your trading mistakes. Never make a trading mistake without asking yourself why. 10. Do not make trading decision based solely on margin requirements, and always trade within your capabilities. Remain true to your trading plan and follow the trading style that works best for you. 11. Do not trade markets that you don't understand. Trade with confidence and conviction. Trade only with risk capital and be aware of the risk of losing. Divide your capital into 6 equal parts and never risk more than one-tenth of your capital on any one trade. 12. After a long period of success or a period of profitable trades, try to avoid the natural tendency toward increasing your trading activity. Conversely, use self-discipline when a trade goes against your position. Take your loss and wait for another opportunity. Never increase your trading after a loss. 13. Avoid getting into the market because you are anxious from waiting and/or out of the market because you have lost your patience. Never over trade and adhere to your risk management rules
Forex Trading: The Perfect Forex Trading System
Trading the Forex market has became very popular in the last few years. But how difficult is it to achieve success in the Forex trading arena? Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? Unfortunately very few, only 5% of traders achieve this goal. One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor: Price behavior. Most Forex trading systems are made off technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) But what are technical indicators? They are just a series of data points plotted in a chart; these points are derived from a mathematical formula applied to the price of any given currency pair. In other words, it is a chart of price plotted in a different way that helps us see other aspects of price. There is an important implication on this definition of technical indicators. The fact that the readings obtained from them are based on price action. Take for instance a long MA crossover signal, the price has gone up enough to make the short period MA crossover the long period MA generating a long signal. Most traders see it as “the MA crossover made the price go up,” but it happened the other way around, the MA crossover signal occurred because the price went up. Where I’m trying to get here is that at the end, price behavior dictates how an indicator will act, and this should be taken into consideration on any trading decision made. Trading decisions based on technical indicators without taking price action into consideration will give us less accurate results. For example, again a long signal generated by a MA crossover as the market approaches an important resistance level. If the price suddenly starts to bounce back off that important level there is no point on taking this signal, price action is telling us the market doesn’t want to go up. Most of the time, under this circumstances, the market will continue to fall down, disregarding the MA crossover. Don’t get me wrong here, technical indicators are a very important aspect of trading. They help us see certain conditions that are otherwise difficult to see by watching pure price action. But when it comes to pull the trigger, price action incorporation into our Forex trading system will definitely put the odds in our favor, it will generate higher probability trades. So, how to create a perfect Forex trading system? First of all, you need to make sure your trading system fits your trading personality; otherwise you will find it hard to follow it. Every trader has different needs and goals, thus there is no system that perfectly fits all traders. You need to make your own research on various trading styles and technical indicators until you find a concept that perfectly works for you. Make sure you know the nature of whatever technical indicator used.
Trading the Forex market has became very popular in the last few years. But how difficult is it to achieve success in the Forex trading arena? Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? Unfortunately very few, only 5% of traders achieve this goal. One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor: Price behavior. Most Forex trading systems are made off technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) But what are technical indicators? They are just a series of data points plotted in a chart; these points are derived from a mathematical formula applied to the price of any given currency pair. In other words, it is a chart of price plotted in a different way that helps us see other aspects of price. There is an important implication on this definition of technical indicators. The fact that the readings obtained from them are based on price action. Take for instance a long MA crossover signal, the price has gone up enough to make the short period MA crossover the long period MA generating a long signal. Most traders see it as “the MA crossover made the price go up,” but it happened the other way around, the MA crossover signal occurred because the price went up. Where I’m trying to get here is that at the end, price behavior dictates how an indicator will act, and this should be taken into consideration on any trading decision made. Trading decisions based on technical indicators without taking price action into consideration will give us less accurate results. For example, again a long signal generated by a MA crossover as the market approaches an important resistance level. If the price suddenly starts to bounce back off that important level there is no point on taking this signal, price action is telling us the market doesn’t want to go up. Most of the time, under this circumstances, the market will continue to fall down, disregarding the MA crossover. Don’t get me wrong here, technical indicators are a very important aspect of trading. They help us see certain conditions that are otherwise difficult to see by watching pure price action. But when it comes to pull the trigger, price action incorporation into our Forex trading system will definitely put the odds in our favor, it will generate higher probability trades. So, how to create a perfect Forex trading system? First of all, you need to make sure your trading system fits your trading personality; otherwise you will find it hard to follow it. Every trader has different needs and goals, thus there is no system that perfectly fits all traders. You need to make your own research on various trading styles and technical indicators until you find a concept that perfectly works for you. Make sure you know the nature of whatever technical indicator used.
Subscribe to:
Posts (Atom)
