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Commodities Briefing - Archive | October, 2010

$3,000 gold and $70 silver could come in 5 years - Michael Berry

Posted on 27 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: Investor, mathematician and former fund manager Michael Berry, PhD, is bullish on gold, which he expects will double or more in price in the not-too-distant future. “you could see $3,000 gold in the next five years. I think that’s very possible. I also believe it’s possible that you could see $50 to $75 silver in the next five years.”
“Having said that, I hearken back to October 2002 when we had $5 silver and we were hoping it would rise to $6. Nobody dreamt it could be $24. Similarly with gold when it was trading below $400 in 2004, nobody dreamt that it would be $1,300 or $1,400. People thought “gold bugs” were fools.”………………………………………Full Article: Source

India gold buying continues; premiums edge up

Posted on 27 October 2010 by VRS  |  Email |Print

From Reuters: India gold buying edged up on Tuesday afternoon as prices steadied, pushing premiums higher, with traders awaiting clear direction ahead of a slew of data from the U.S., dealers said.
“There were a few deals at $1,340-1,341 (an ounce), they all want to stock up for festivals,” said a dealer with a state-run bullion importing bank in Mumbai……………………………………….Full Article: Source

China should significantly boost gold in reserves

Posted on 27 October 2010 by VRS  |  Email |Print

From Reuters: China should significantly boost the amount of gold held in state reserves, a newspaper run by China’s Ministry of Commerce said on Wednesday, citing a local researcher.
Meng Qingfa, a researcher with China Chamber of International Commerce, was quoted by the International Business Daily as saying that China should eventually boost its gold reserves to a level equal to that held by the United States……………………………………….Full Article: Source

Time to look beyond Chinese rare earths, says EU trade boss

Posted on 27 October 2010 by VRS  |  Email |Print

From AFP: European Union trade commissioner Karel De Gucht on Tuesday urged global partners to diversify mining sources for prized rare earths as a battle with China deepened over scarce supplies.
De Gucht spoke out as a row that began between China and Japan over access to 17 essential minerals used in high-tech products ranging from flat-screen televisions to hybrid cars threatened to turn into a worldwide protectionist rallying cry……………………………………….Full Article: Source

Steel industry’s outlook gloomy on slower growth

Posted on 27 October 2010 by VRS  |  Email |Print

From AFP: The steel industry’s outlook has dimmed with the unevenness of the global economy. Sales have dropped along with prices while costs have risen, leaving companies pessimistic about the rest of the year.
Two of the world’s biggest steel manufacturers turned in third-quarter performances on Tuesday that demonstrated how much expectations have changed since mid-year as many countries and regions fail to generate significant economic growth……………………………………….Full Article: Source

Zinc output surplus falling in latest data

Posted on 27 October 2010 by VRS  |  Email |Print

From Resourceinvestor.com: The world’s surplus production of refined zinc metal declined by 44% to 166,000 tonnes in the first eight months of 2010, the Portugal-based International Lead and Zinc study group said Tuesday in reporting preliminary data.
But inventories of the metal increased by 181,000 tonnes during the same period and mine production increased 11.3% or 823,000 tonnes to 8.1 million tonnes……………………………………….Full Article: Source

Zinc market forecasts

Posted on 27 October 2010 by VRS  |  Email |Print

From Agmetalminer.com: The zinc market isn’t copper and yet along with most base metals, zinc has risen strongly in recent weeks due to dollar weakness and a return to risk led among the metals by the tight and booming copper market.
All the base metals have looked a little frothy in the short term. There is a lot of money chasing hedges against further dollar weakness and an enduring belief in the emerging market bull run continuing for the foreseeable future. But in reality what does the future have in store for zinc?………………………………………Full Article: Source

IEA unclear on oil reserve growth

Posted on 27 October 2010 by VRS  |  Email |Print

From Rigzone.com: Recent increases in oil reserves in Iraq, Iran and Venezuela are “good news,” but it remains unclear whether they will contribute to future supply, Nobuo Tanaka, executive director of the International Energy Agency, or IEA, said.
“To have more reserves is certainly good news, because it gives us a more precise prediction of costs and necessary investments,” Tanaka told Dow Jones Newswires at an energy conference in Moscow. “But the issue is how much investments will happen to develop these reserves, how this will increase production capacity……………………………………….Full Article: Source

How reliable are OPEC estimates?

Posted on 27 October 2010 by VRS  |  Email |Print

From Countercurrents.org: Through an accident of plate tectonics and other developments over geological time, most of the world’s remaining recoverable oil is situated around the Persian Gulf. This is unfortunate for us because we will thus never have a reasonable, universally agreed-upon estimate of the amount of oil left to produce.
Why talk about oil reserves at this point? Well, it seems that some Persian Gulf nations are now in a pissing contest over who has the most recoverable oil……………………………………….Full Article: Source

Subsidies seen endangering OPEC prosperity

Posted on 27 October 2010 by VRS  |  Email |Print

From Ogj.com: Member countries of the Organization of Petroleum Exporting Countries are thriving on oil export revenue but, in many cases, eroding their export capacities by subsidizing domestic consumption, warns the Centre for Global Energy Studies, London.
In its Industry Watch report, CGES calculates that OPEC producers have generated almost $5 trillion in oil-export revenue since 1998, a year of unusually low revenue when the average crude price was only $12.30/bbl……………………………………….Full Article: Source

EU plans to clamp down on carbon trading scam

Posted on 27 October 2010 by VRS  |  Email |Print

From Guardian: The European commission is planning to clamp down on a £1.6bn carbon trading scam. The use of carbon permits from industrial gas projects in China could be banned because of their “total lack of environmental integrity”, the climate change commissioner, Connie Hedegaard, said.
Billions of euros’ worth of the controversial permits were used between 2008-09 in the European Union’s emission trading scheme (ETS), in which companies must exchange pollution permits for any emissions produced. The ETS allows some of those permits to be bought in from developing countries……………………………………….Full Article: Source

EU reaches deal on hedge-fund regulation

Posted on 27 October 2010 by VRS  |  Email |Print

From Europeanvoice.com: The European Parliament today reached agreement with the Council of Ministers and the European Commission on new EU rules to regulate hedge funds and other alternative investment funds.
The agreement is to ensure effective supervision over how alternative investment funds are marketed and run within the EU. The Parliament is expected to endorse the accord in a plenary vote on 11 November……………………………………….Full Article: Source

CFTC proposes restrictions on brokers’ use of funds

Posted on 27 October 2010 by VRS  |  Email |Print

From Bloomberg: The Commodity Futures Trading Commission moved to restrict what brokers can do with clients’ assets after investments in money-market mutual funds and government-sponsored entities soured during the financial crisis.
CFTC commissioners voted 4-1 today to propose limiting investments in money-market funds to 10 percent of client assets and investments in GSE securities to 50 percent……………………………………….Full Article: Source

Commodity ETFs and the changing world

Posted on 27 October 2010 by VRS  |  Email |Print

From Etftrends.com: Food is a necessity of life, no matter where one lives or how much money they make. This fact alone makes an agriculture exchange traded fund (ETF) investment that much more appealing for an investor’s portfolio.
The fact that everybody needs to eat and the notion that food and eating patterns are transforming, there is a great opportunity in the agriculture industry. Money and Markets for The Trading Reports states that there are three big trends converging to bring about a dramatic shift in what and how people eat around the world:………………………………………Full Article: Source

Try ETFs, ETNs, funds in commodities

Posted on 27 October 2010 by VRS  |  Email |Print

From Investorplace.com: If you are concerned about an impending bubble in bonds, and dismayed by volatility and low returns in traditional stock market sectors, consider something new: investing in agricultural commodities.
Buttressed by bad weather and continued demand worldwide, agricultural commodities have proven to be a bright spot for many investors. Even better, this asset class benefits from a hint of rising inflation. While the average inflation rate over the past ten years has been 2.6%, when inflation does ignite, it happens quickly………………………………………Full Article: Source

Why ETFs all want this hot investment

Posted on 27 October 2010 by VRS  |  Email |Print

From Msnbc: In many previously unexplored sectors of the financial markets, exchange-traded funds have been responsible for creating a stir throughout the investment community. But for one particular investment, so many companies tried to offer a related ETF that they ended up tripping over each other.
If you had to come up with what investment would draw this much attention, it’d be natural to guess precious metals like gold, which have run up so quickly in recent months. Alternatively, you might go with an emerging-markets stock fund, given the wide exposure that booming economies like China and Brazil have gotten lately……………………………………….Full Article: Source

Wanted: Rare earth ETFs

Posted on 27 October 2010 by VRS  |  Email |Print

From Resourceinvestingnews.com: The world has caught on to the importance of rare earth elements in the global market. The metals are crucial to high tech products, renewable energy sources, medical devices and the automotive industry to name a few.
The cut backs on exports, and a looming ban for the rest of the year, have made uncertainty and prices for the metals skyrocket. Investors have been showing an increased interest in capitalizing on the rare earth market, but have very few options to invest in outside of a few non-Chinese mining companies……………………………………….Full Article: Source

Is the new precious metals ETF worth buying?

Posted on 27 October 2010 by VRS  |  Email |Print

From Hardassetsinvestor.com: Last week marked the launch of ETF Securities’ Physical Precious Metal Basket of Shares, a fund created to allow investors to obtain exposure to four precious metals in one go. To do this, 0.03 ounces of gold, 1.1 ounces of silver, 0.004 ounces of platinum and 0.006 ounces of palladium will back each share of the fund.
Given how stellar all the precious metals have performed as of late, the new fund sounds like a great deal. But is it? Well, to understand that, first we must look at the metals themselves……………………………………….Full Article: Source

India: ACE Commodity Exchange launched

Posted on 27 October 2010 by VRS  |  Email |Print

From Indiatimes.com: The Kotak Group-promoted ACE Commodity Exchange, launched as a national level commodity exchange, has filed for four non-agri commodities for regulatory approval .
“We aim to focus on both agriculture and metals, and have already filed for four non-agri commodities — crude, gold, silver and copper — with the Forward Market Commission (FMC) for its approval,” ACE Chief Executive Officer Dilip Bhatia told reporters on the sidelines of the launch……………………………………….Full Article: Source

Scotiabank’s Commodity Price Index rallies further in September

Posted on 27 October 2010 by VRS  |  Email |Print

From Digitaljournal.com: Scotiabank’s Commodity Price Index, which measures price trends in 32 of Canada’s major exports, posted its third consecutive monthly advance in September, edging up by 0.6 per cent month-over-month (m/m).
The All Items Index is now 27.1 per cent above the cyclical low in April 2009 and will surge in October, with gains in base and precious metals, grains and fertilizers. World food prices have ratcheted up in recent months, pointing to strong fertilizer application in the coming year……………………………………….Full Article: Source

Currency wars cloud picture for investors

Posted on 27 October 2010 by VRS  |  Email |Print

From Theaustralian.com.au: If one currency goes up in value on the foreign exchange markets, the worth of another currency must go down. Exchange rates can’t all move in the same direction. But we’re now seeing many countries attempting competitive devaluations. It’s being called the new currency wars.
The US and China have been at loggerheads for some time over the value of the Chinese currency, the yuan (also called the renminbi)……………………………………….Full Article: Source

Weber says euro has become the number 2 currency in the world

Posted on 27 October 2010 by VRS  |  Email |Print

From Bloomberg: European Central Bank council member Axel Weber said the euro has become the second most important currency in the world.
“We never actively pushed for an international role for the euro, but we accept that the euro has become the world’s second most important currency” after the dollar, Weber said at an event in Berlin tonight……………………………………….Full Article: Source

India’s currency attracts investors, but damages exports

Posted on 27 October 2010 by VRS  |  Email |Print

From Nytimes.com: As talk of currency battles rumble through the global economy, India has been a reluctant warrior. The Indian rupee is soaring — up 9 percent against the dollar in the last 16 months. That has taken a toll on exports like textiles by making them more expensive on the world market. And the strong rupee poses longer-term threats of overheating the economy.
But instead of fighting currency appreciation, as Brazil and some other countries have done, India has been willing to let the rupee rise — for now, at least……………………………………….Full Article: Source

Is the Federal Reserve blowing a commodities bubble?

Posted on 27 October 2010 by VRS  |  Email |Print

From Investmentu.com: So here’s the big question… Is the Federal Reserve blowing a commodities bubble? Some analysts certainly think so. They can’t come up with a better reason why prices have shot up so high.
And they have a point, to some degree. The U.S. dollar certainly has tumbled on talk of QE2, another round of quantitative easing. Simply put, the Fed wants to print more money……………………………………….Full Article: Source

Global food crisis forecast as prices reach record highs

Posted on 26 October 2010 by VRS  |  Email |Print

From Guardian: Rising food prices and shortages could cause instability in many countries as the cost of staple foods and vegetables reached their highest levels in two years, with scientists predicting further widespread droughts and floods.
Although food stocks are generally good despite much of this year’s harvests being wiped out in Pakistan and Russia, sugar and rice remain at a record price……………………………………….Full Article: Source

Food prices expected to rise sharply

Posted on 26 October 2010 by VRS  |  Email |Print

From Cnbc.com: Corn is up 45 percent the last three months. We haven’t seen cotton prices this high since after the Civil War. Soybeans are up. Oil is up. Metals are up. So are coffee and cocoa.
In this era of massive liquidity, everything is up, except for food prices—specifically processed food (made from many of the same commodities and other ingredients whose prices have risen)……………………………………….Full Article: Source

Rabobank predicts continued commodity squeeze

Posted on 26 October 2010 by VRS  |  Email |Print

From Foodnavigator.com: Food manufacturers may have to face up to high sugar and corn prices over the coming year after food commodity prices shot up in October.
Analysing the recent spike in prices in its monthly overview of the commodities market, Rabobank said: “Tightening fundamentals and exchange rate movements played a major role in the price gains across a range of agricultural commodities.”………………………………………Full Article: Source

Falling velocity of commodities

Posted on 26 October 2010 by VRS  |  Email |Print

From WSJ: Investors are becoming pretty familiar with the notion that the velocity of money collapses in a liquidity trap, which is to say when interest rates drop to zero.
But the velocity of commodities also falls when official interest rates hit the lower bound, according to John Hussman, manager of an eponymous fund. Put another way, investors hoard commodities when interest rates are low enough, squeezing prices……………………………………….Full Article: Source

Pick mining giants for commodity exposure

Posted on 26 October 2010 by VRS  |  Email |Print

From Cityam.com: China’s restrictive export practices in rare earth metals have intensified fears among traders and market analysts that a bubble is forming in junior mining stocks such as Canada’s Rare Element Resources, Quest Rare Minerals and Avalon Rare Metals.
These companies have seen their share prices surge in recent months despite the fact that they are not yet extracting any rare earths……………………………………….Full Article: Source

Rare earth metals draw attention

Posted on 26 October 2010 by VRS  |  Email |Print

From Theglobeandmail.com: Among the hottest commodities these days are the rare earth elements – obscure metals used widely in key technologies such as smart phones, televisions, hybrid cars, lasers and military equipment.
These elements aren’t actually rare, or earths, for that matter. They are metals that are found readily on Earth’s crust, but not in concentrations that make them easy to mine……………………………………….Full Article: Source

Rare earth metals: What’s moving this commodity?

Posted on 26 October 2010 by VRS  |  Email |Print

From Moneylife.in: China, the world’s largest producer of rare earths, has been intervening in the mining and production of these commodities in order to jack up prices. While a few rare earth metals have seen a spike in values, it looks like the invisible hand will eventually triumph over state-sponsored capitalism
Rare earth metals are commodities. Like other commodities they have been on the rise lately, but exactly the reason why stands as a parable for state-controlled capitalism in general and its consequences, especially in China……………………………………….Full Article: Source

Rare-earths supply will fall short of demand to 2014, Lynas says

Posted on 26 October 2010 by VRS  |  Email |Print

From Bloomberg: Global supplies of rare-earth elements will fall short of demand, which will grow by an average of 9 percent annually to the year 2014, Lynas Corp. said yesterday.
Total demand for the group of elements, used in products such as industrial magnets, flat-screen TVs, and military weapons systems, is likely to grow to 190,100 metric tons in 2014, from an expected 136,100 tons this year, Lynas, a Sydney- based, rare-earths developer, said in a presentation……………………………………….Full Article: Source

Aluminium moves out of copper’s shadow

Posted on 26 October 2010 by VRS  |  Email |Print

From Telegraph: Aluminium is one of the most unfashionable commodities around – which is exactly why some investors are starting to take notice. After all, for contrarian investors, the best time to buy an asset is when everyone else thinks you shouldn’t. They call it the point of maximum pessimism.
Unlike commodities such as copper, aluminium ore (bauxite) is actually relatively common, constituting about 8pc of the Earth’s crust. The main limiting factor in its production is access to cheap power……………………………………….Full Article: Source

Red-hot copper rises above $8,500 a tonne

Posted on 26 October 2010 by VRS  |  Email |Print

From Ninemsn.com.au: The price of copper rose on Monday above $8,500 a tonne for the first time since the fall of Lehman Brothers, as the sliding dollar coincided with buoyant investment demand.
The market for the red metal, a crucial cog in the global economy as it is widely used in manufacturing, has been in relentlessly bullish mode for several weeks as demand is expected to outstrip supply this year and next……………………………………….Full Article: Source

Palladium, an investment comparable to platinum or gold bullion

Posted on 26 October 2010 by VRS  |  Email |Print

From Suite101.com: Palladium is an excellent precious metals investment candidate. With numerous uses, it is now at historic lows, possibly better than gold or platinum. Palladium, one of the precious metals and considered part of the platinum group is an investment whose time may have arrived.
With a current price of around $590 per ounce, which is only 35% of the current price of an ounce of platinum and slightly over 25 times the price of silver, this may be an investment worth considering as the economy remains in a jittery state……………………………………….Full Article: Source

Palladium and the PGMs return to investor spotlight

Posted on 26 October 2010 by VRS  |  Email |Print

From Rt.com: While gold and silver have drawn the spotlight over 2010, platinum group metals, and particularly palladium are attracting increasing attention. 2010 has seen growing industrial and investment demand for Platinum group metals (PGMs).
Anton Berlin, the Marketing Director for Norilsk Ni says the industrial demand reflects the economic rebound, with the turnaround of the automaking sector, particularly in emerging economies, underpinning demand for platinum and palladium – used extensively in exhaust management technologies……………………………………….Full Article: Source

World wants uranium as much as potash

Posted on 26 October 2010 by VRS  |  Email |Print

From Vancouversun.com: Uranium prices started moving higher in 2004 with the rest of the global commodity surge but its popularity waned when the markets corrected. It’s now regaining traction as governments look for large-scale energy sources to meet huge future power demands. Investors may want to put it on their radar screens too.
Uranium spot prices have quietly crept up and now sit at about US$49.25 per pound, their highest levels in more than 10 months and up from about US$41.50 in mid-July……………………………………….Full Article: Source

Mercury: Finding opportunity in the toxic trio

Posted on 26 October 2010 by VRS  |  Email |Print

From Hardassetsinvestor.com: Remember our toxic trio: arsenic, the old poudre de succession; cadmium, the stuff of paints and batteries; and mercury, named for the ancient Roman god of speed, trade—and, these days, less and less.
Despite its extreme toxicity, mercury was once commonplace. It was often used in the milliner’s trade—as mercuric nitrate, or Hg(NO3)2—to make felt for hats, with some quite unpleasant side effects: For one, those poisoned by the metal appeared insane, giving rise to the phrase “mad as a hatter.”………………………………………Full Article: Source

Gold and the G20 - what next?

Posted on 26 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: A warning that if long term broad capital controls are taken up by G20 members this could be disastrous for the global economy but positive for gold and other precious metals.
Gold dropped to $1,314.5 late last week before recovering to $1.325. It seems that this was due to the G-20 proposals from the U.S. indicating a possible attempt at calming currency markets. This weekend the G-20 is meeting to discuss the current currency turmoil in the markets……………………………………….Full Article: Source

Gold still an integral part of the current monetary system

Posted on 26 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: Every single day as the values of currencies, bonds, equities, commodities and gold fluctuate, investors try to determine which sector is going to yield the best returns over the next 3- 5 years.
While past performance is no guarantee of future performance, gold has been one of the best performing assets over the last decade, and if one considers the fundamentals driving the gold price, it is reasonable to assume that this trend is going to continue in the foreseeable future……………………………………….Full Article: Source

Iran to notify OPEC of increased oil reserves in late 2010

Posted on 26 October 2010 by VRS  |  Email |Print

From Bloomberg: Iran will notify the Organization of Petroleum Exporting Countries Secretariat of a rise in its oil reserves toward the end of this year, said Iran’s OPEC Governor Mohammad Ali Khatibi.
Iran’s proven oil reserves have reached 150.31 billion barrels, Oil Minister Masoud Mir-Kazemi said Oct. 11……………………………………….Full Article: Source

Gas exporters study OPEC for natgas market model

Posted on 26 October 2010 by VRS  |  Email |Print

From Reuters: Gas-producing countries are studying OPEC’s experience as they try to build a global natural gas market, the head of the recently-launched Gas Exporting Countries Forum (GECF) said on Monday.
Leonid Bokhanovsky told reporters the group was set to propose a gas market model based on OPEC experience……………………………………….Full Article: Source

IEA: Unclear if oil reserve growth will contribute to future supply

Posted on 26 October 2010 by VRS  |  Email |Print

From Rigzone.com: Recent increases in oil reserves in Iraq, Iran and Venezuela are “good news,” but it remains unclear whether they will contribute to future supply, Nobuo Tanaka, executive director of the International Energy Agency, or IEA, said Monday.
“To have more reserves is certainly good news, because it gives us a more precise prediction of costs and necessary investments,” Tanaka told Dow Jones Newswires at an energy conference in Moscow……………………………………….Full Article: Source

Oil and empire: The great game of geopolitics

Posted on 26 October 2010 by VRS  |  Email |Print

From Commodityonline.com: The Great Game is afoot and no matter how we may disapprove of the Global Empire, we would be wise not to discount the cards it alone holds.
Geopolitics is not called The Great Game without reason. The game of dominating the world’s resources, nation-states and alliances is like a combination of Go and chess, with the threat of military conquest or defeat always hovering over the statecraft and financial game……………………………………….Full Article: Source

Commodity ETFs lead the charge after G-20 meeting

Posted on 26 October 2010 by VRS  |  Email |Print

From Etftrends.com: Commodity exchange traded funds (ETFs) are surging higher driven by the commitment by the financial administrators from the Group of 20 Nations to stabilize the currency markets by avoiding competitive currency devaluations.
In a statement released at the conclusion of their two-day meeting in South Korea on Saturday, it was reported that they would “move toward more market-determined exchange rate systems that reflect underlying economic fundamentals and refrain from competitive devaluation of currencies.”………………………………………Full Article: Source

Why exchange-traded funds may be an investor’s new best friend

Posted on 26 October 2010 by VRS  |  Email |Print

From Cnbc.com: Active fund managers have suffered through a perfect storm of obstacles the last three years —and investors have noticed. Buffeted by markets made more efficient by high frequency traders, high stock correlation, and an increasing focus on costs, actively managed mutual funds have failed to earn their high management fees and lost ground to exchange traded funds, ETFs, and index funds.
“I ditched actively managed funds and started investing in ETFs a few years back,’’ says Ary Rosenbaum, an attorney in Garden City, New York. “I was tired of actively managed funds failing to meet their benchmark.’’………………………………………Full Article: Source

Copper exchange-traded fund is planned by JPMorgan

Posted on 26 October 2010 by VRS  |  Email |Print

From Bloomberg: JPMorgan Chase & Co., the second- biggest U.S. bank by assets, plans to introduce an exchange- traded fund for copper, seeking to benefit from increased investment demand for the metal used in pipes and wires.
Shares in the J.P. Morgan Physical Copper Trust will trade on the New York Stock Exchange “as soon as practicable”, the New York-based bank said in a filing to the Securities and Exchange Commission, without giving a precise date……………………………………….Full Article: Source

G20 vows to ease tensions over currencies

Posted on 26 October 2010 by VRS  |  Email |Print

From Voanews.com: Finance ministers from the G20 nations ended two days of meetings in South Korea with a pledge to ease trade tensions that threaten global recovery. Though short on details, the informal agreement on exchange rates is seen as a step forward in defusing tensions that could lead to protectionism and possible trade wars.
But without a viable enforcement mechanism, according to noted American economist Joseph Stiglitz, the pledges are nothing more than symbolic……………………………………….Full Article: Source

Did U.S. and China strike a currency deal?

Posted on 26 October 2010 by VRS  |  Email |Print

From Ibtimes.com: The meeting of G20 finance ministers over the weekend did not produce any concrete policies to address the global currency war. However, behind the scenes, China and the U.S., the two major combatants, may already have already struck an agreement, said Douglas Borthwick, head trader of Connecticut-based Faros Trading.
Borthwick thinks China and the U.S. may have agreed to gradually appreciate the Chinese yuan over 5 years. ………………………………………Full Article: Source

Could big business carbon investment save endangered species?

Posted on 26 October 2010 by VRS  |  Email |Print

From Abc.net.au: With companies keen to go carbon neutral, forest carbon offsets have become a hot item for the big end of town. But Brendan Wintle and Sarah Bekessy argue that unless biodiversity is included, the real opportunities will be missed.
By the end of this year, Rupert Murdoch’s News Corporation will be carbon neutral across all of its businesses. They are not alone; the World Bank Group, Formula One, and Virgin Blue are just a few of the many big players who have committed to reduce their greenhouse gas emissions and offset the remainder by investing in forests and other environmental initiatives……………………………………….Full Article: Source

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