All GLG News Analyses Filed Under: Economics
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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Philippine economy is vulnerable but less so
January 8, 2009
RP less vulnerable to crisis, says Fitch | business.inquirer.net
The Philippines is vulnerable to the global financial crisis but less so than other countries in the region, as its banks and external financial position are sound, the London-based credit watchdog group Fitch Ratings said Wednesday.
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Adding Insult to Injury -- the TARP Bailout
December 24, 2008
The age of obligation | www.ft.com
Over $350 Billion in Federal funds have already been provided to U.S. Financial Institutions under the TARP bailout, with that much remaining to be distributed. The lack of accountability for those funds by the recipient banks and other institutions is an atrocious violation of prudence and fiduciary responsibility. Congress must investigate at once, before any further TARP or similar funds are provided.
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Effect of most recent FOMC decsion on markets, the economy, and potential for inflation
December 20, 2008
FOMC statement of Dec. 16 2008 | www.federalreserve.gov
The FOMC on Dec. 16 lowered the federal funds rate to near zero, and said it will consider further expand its balance sheet to support credit markets, such as expanding holdings of mortgage-backed securities, implementing plans to lend against asset backed securities of consumer and small business loans, and doing virtually anything else it can think of. The Fed also said that exceptionally low levels of the funds rate would be warranted for some time. All this a confession of desperation in face of weak economic conditions and no discernible inflation. For the short-run it is a positive for credit markets and equities (because it promises more profits from cheap financing of future business opportunities). But in the longer run the further ballooning of the Fed's balance sheet inherent in today's spectacular policy maneuver will make control of later inflationary pressures more difficult. The further weakness of the dollar in the foreign exchange demonstrates that concern.
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New Refineries in Saudi Arabia: Some Strategic Ramifications
December 18, 2008
The Saudi Arabia Manufacturing Industries Needs International Investors Assites | tech.exploration.googlepages.com
Saudi oil, according to its “Dubai” benchmark, is heavy sour ( high sulphur ) crude. It is a major factor for building new refineries there. Reasons: (1) Price differentials between crude oils reflect the relative ease of refining; less dense (“lighter”) crudes (e.g. “WTI” and “Brent”) yield easily a higher fraction of more valuable products than “heavy” crudes (e.g.” Dubai”). (2) Refinery shortages widen the spread between more valuable crudes and cheaper ones. (3) Environmental regulations for reduced-sulfur gasoline and diesel have required major investments across the industry. (4) Oil coming from Saudi Arabia is not meeting the new U.S. specifications. (5) The price spread is also increasing between “sweet” crudes, which are low in malodoroussulfur compounds, and “sour” crudes, which contain high levels of such compounds. These differentials are boosting the profitability of refiners that have the capacity to handle a greater quantity of heavy and sour products.
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December 5, 2008
The Saudi Arabia Manufacturing Industries Needs International Investors Assites | tech.exploration.googlepages.com
Oil & Gas Equipment Manufacturing & Services Opportunities NBD strives to enhance private sector participation in expanding the Kingdom's economy by: Increasing the range and quality of goods available in the local market by facilitating the growth of new and existing in-Kingdom manufacturers in the oil and gas industry through local and/or international investment. Increasing the range and quality of oil field services by encouraging the development of reliable small and medium service enterprises that would lead to transfer of technology and know-how to the Kingdom.
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December 2, 2008
Japan Engulfed | www.ft.com
A key implication noted in the article from FT.com, Japan Engulfed, is the speed by which Japan has recognized the need for change and made the needed economic and social corrections in terms of public policy. Another is the effort by which they have formed their major trading partners. I suggest one has to look at the social culture of the region that drives decisions by lawmakers. Most of their effort is aimed at collectivism, the ties that bind individuals to societies as groups and not individuals.
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November 13, 2008
China announces $586 billion stimulus plan | ap.google.com
Exit of FDI from Indian equity market has shockingly pushed all infrastructure, steel, transport, natural resources and allied industries’ stocks towards South side. Presently Indian infrastructure, real estate, construction, steel, iron ore, shipping & hotel industry are worst suffered due to liquidity crunch and higher interest rates. Prime properties in all cities are available at a price 30 to 45% less than a year ago but find no buyer. Mid and small mine owners are planning to close their business as they do not find it viable to continue. In spite of respective ministry’s various subsidies and abolishment / reduction in duties, many industries are not achieving even bottom line. First it was land acquisition and environmental issues, now it is inability to achieve the financial closure for many mega power, steel, energy, infrastructure and special economic zone projects. Almost all major industries has differed the expansion / modernization of their existing plants.
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Mutant Ninja Turtles: Japanese old economy
November 10, 2008
Value of M&As leaps as Japan goes shopping | search.japantimes.co.jp
Japanese Old economy goes to do worldwide M&A market use their handheld cash. But, If If they does not change yet, and if they are still in their mind before "Lost Fifteen years at 1990's" , they only do great waste again. This is the time of International cooperation. Social importance is requested from their M&A actions. I think whether it is possible.
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November 10, 2008
China announces $586 billion stimulus plan | ap.google.com
A package amounting to about $586 billion is not to be sneezed at, but the investment will take time to kick in. Hiring and travel freezes in most Fortune 500 companies are unlikely to be reversed any time soon, but the possibility of actual firings may have been averted, or at least put on the backburner.
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This is the time Japan leaves the empire of utility pole : expansion of domestic demand
November 7, 2008
Environmental Load Pricing | www.mlit.go.jp
Expansion of domestic demand in Japan should be contribute to worldwide economy circulation. In this time, I describe utility pole issue in Japan and that problem solving effectonly. If Japan goverment deside to solve so inconvenient issue like that, Japanese Sitizen's Quality of Life will be increase and it contribute to expansion of domestic demand. Chain of positive should be needed.
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