Sunday, April 20, 2008
Europabio
Europabio: "EuropaBio's mission is to promote an innovative and dynamic biotechnology-based industry in Europe. EuropaBio, (the European Association for Bioindustries), has 81 corporate and 5 associate members operating worldwide, 6 Bioregions and 25 national biotechnology associations representing some 1800 small and medium sized enterprises."
UEPA
UEPA: "Created in 1959, UEPA1 is the Brussels-based organisation representing almost all EU producers of agricultural ethyl alcohol used for industrial, beverage or fuel purposes. Synthetic alcohol is represented in a separate association.
UEPA gathers national associations and companies originating from all producing countries in EU-15. Amongst the ten new Member States, Hungary and the Slovak Republic have already joined the association and contacts are being developed with others. Today UEPA represents 14 producing countries.
UEPA’s role is to address the issues of the Industry by establishing a constructive dialogue with decision-makers, at both EU and national level, and actively co-operate towards the definition of appropriate solutions. UEPA keeps its Members abreast of new developments taking place in the EU which affect their business.
UEPA is represented in a number of consultative committees of the European Commission and acts as the spokesman of the agricultural alcohol industry in these different fora."
UEPA gathers national associations and companies originating from all producing countries in EU-15. Amongst the ten new Member States, Hungary and the Slovak Republic have already joined the association and contacts are being developed with others. Today UEPA represents 14 producing countries.
UEPA’s role is to address the issues of the Industry by establishing a constructive dialogue with decision-makers, at both EU and national level, and actively co-operate towards the definition of appropriate solutions. UEPA keeps its Members abreast of new developments taking place in the EU which affect their business.
UEPA is represented in a number of consultative committees of the European Commission and acts as the spokesman of the agricultural alcohol industry in these different fora."
M.M.Warburg & CO | Mezzanine & Off-Balance
M.M.Warburg & CO | Mezzanine & Off-Balance: "Sophisticated concepts for optimum structuring
Our Corporate Finance division offers you innovative and approved solutions for mezzanine financing. On request, the mezzanine capital can be designed in an equity-like way. A design as IFRS-compliant equity is also possible. Profit-sharing rights, hybrid bonds, convertible bonds, silent partnerships and subordinated debt are also basic components of our concepts. We draw up integrated planning models for you, derive optimum capital structures, structure the overall financing and raise mezzanine and debt capital.
If an acquisition should be executed and kept out of the investor’s balance sheet (off-balance financing), we develop innovative concepts while taking into account the requirements of national and international statutory accounting regulations and tax-related aspects. It is particularly in these cases that we can also acquire investments of our own and address other private equity investors from within our own circle.
Effective utilisation of mezzanine financing requires experience and confidence in dealing with the complex structures of equity, debt and mezzanine capital. In the last few years we have structured numerous financing deals with a value of € 25 million to € 350 million and furnished them with the necessary capital.
CONTACT PERSON
Dr. Jens Kruse
Ferdinandstraße 75 · 20095 Hamburg
Tel. +49(0)40 32 82 - 22 25
Fax +49(0)40 36 18 - 11 09
jkruse@mmwarburg.com"
Our Corporate Finance division offers you innovative and approved solutions for mezzanine financing. On request, the mezzanine capital can be designed in an equity-like way. A design as IFRS-compliant equity is also possible. Profit-sharing rights, hybrid bonds, convertible bonds, silent partnerships and subordinated debt are also basic components of our concepts. We draw up integrated planning models for you, derive optimum capital structures, structure the overall financing and raise mezzanine and debt capital.
If an acquisition should be executed and kept out of the investor’s balance sheet (off-balance financing), we develop innovative concepts while taking into account the requirements of national and international statutory accounting regulations and tax-related aspects. It is particularly in these cases that we can also acquire investments of our own and address other private equity investors from within our own circle.
Effective utilisation of mezzanine financing requires experience and confidence in dealing with the complex structures of equity, debt and mezzanine capital. In the last few years we have structured numerous financing deals with a value of € 25 million to € 350 million and furnished them with the necessary capital.
CONTACT PERSON
Dr. Jens Kruse
Ferdinandstraße 75 · 20095 Hamburg
Tel. +49(0)40 32 82 - 22 25
Fax +49(0)40 36 18 - 11 09
jkruse@mmwarburg.com"
M.M.Warburg & CO | Investments
M.M.Warburg & CO | Investments: "Rewarding prospects for profit-orientated entrepreneursWe offer you entrepreneurial investments in whose shaping M.M.Warburg & CO has been involved or which come from carefully selected partners. The returns on these investments are often independent of events on the stock markets and therefore are suitable for rounding out your investment strategy – no matter whether this refers to investments in real-estate, ships or companies.
As our private client, you are a member of a select group of investors whom we proactively inform of suitable investment opportunities. In addition, we offer our clients the opportunity of participating in exclusive, private placements.
REAL-ESTATE INVESTMENTS
Investing in real estate is an important component of a balanced portfolio and in addition to an income optimisation…
moreSHIP INVESTMENTS
Ship investments offer good returns with an attractive risk-reward ratio. Since they are stable assets…
more
COMPANY INVESTMENTS
This well established investment form contributes in many ways to the optimisation of your asset growth. With private equity, you invest in the source. With high return prospects…
more
PRIVATE PLACEMENTS
Private placements are characterised by a small number of investors, high minimum investments and therefore minimal initiation costs. Most of all, they…
more"
As our private client, you are a member of a select group of investors whom we proactively inform of suitable investment opportunities. In addition, we offer our clients the opportunity of participating in exclusive, private placements.
REAL-ESTATE INVESTMENTS
Investing in real estate is an important component of a balanced portfolio and in addition to an income optimisation…
moreSHIP INVESTMENTS
Ship investments offer good returns with an attractive risk-reward ratio. Since they are stable assets…
more
COMPANY INVESTMENTS
This well established investment form contributes in many ways to the optimisation of your asset growth. With private equity, you invest in the source. With high return prospects…
more
PRIVATE PLACEMENTS
Private placements are characterised by a small number of investors, high minimum investments and therefore minimal initiation costs. Most of all, they…
more"
M.M.Warburg & CO | Private placements
M.M.Warburg & CO | Private placements: "Small circle with great impact
Private placements are primarily designed for alternative investments that are largely unaffected by events on the stock markets. They primarily include real estate, ships and private equity investments.
A group of approximately 10 to 20 investors participate with high minimum investments to the value of six-digit sums. Mostly, these investors make decisions directly and autonomously about their investments without influence by any supervisory committees. This distinguishes individual private placements fundamentally from large retail funds with several hundred stockholders.
The considerable administrative savings, plus the fact that there is virtually no need for advertising campaigns, mean costs are much lower and the payouts much higher.
Through our intensive and diverse activities in the areas that are relevant to private placements, and thanks to our good relationships with mid-market companies, we can continually offer you selected private placement investments.
CONTACT PERSON
Erich Waller
Ferdinandstraße 75 · 20095 Hamburg
Phone +49(0)40 32 82 - 21 05
Fax +49(0)40 36 18 - 10 07
privatebanking@mmwarburg.com"
Private placements are primarily designed for alternative investments that are largely unaffected by events on the stock markets. They primarily include real estate, ships and private equity investments.
A group of approximately 10 to 20 investors participate with high minimum investments to the value of six-digit sums. Mostly, these investors make decisions directly and autonomously about their investments without influence by any supervisory committees. This distinguishes individual private placements fundamentally from large retail funds with several hundred stockholders.
The considerable administrative savings, plus the fact that there is virtually no need for advertising campaigns, mean costs are much lower and the payouts much higher.
Through our intensive and diverse activities in the areas that are relevant to private placements, and thanks to our good relationships with mid-market companies, we can continually offer you selected private placement investments.
CONTACT PERSON
Erich Waller
Ferdinandstraße 75 · 20095 Hamburg
Phone +49(0)40 32 82 - 21 05
Fax +49(0)40 36 18 - 10 07
privatebanking@mmwarburg.com"
Oil (Petroleum) and Gasoline - News - Times Topics - The New York Times
Oil (Petroleum) and Gasoline - News - Times Topics - The New York Times: "In 1999, the price of oil hovered around $16 a barrel. In the fall of 2007 it began to approach the $100 a barrel mark. The reasons for the surge ranged from the relentless growth of the economies of China and India to widespread instability in oil-producing regions, including Iraq and Nigeria's delta region. The prospect of triple-digit oil prices has redrawn the economic and political map of the world, challenging some old notions of power. Oil-rich nations are enjoying historic gains and opportunities, while major importers — including China and India, home to a third of the world’s population — confront rising economic and social costs."
Saturday, April 19, 2008
Deutsche Bank - Trust & Securities Services
Deutsche Bank - Trust & Securities Services: "Deutsche Bank`s Trust & Securities Services is one of the world’s largest and most experienced providers of administrative services for capital market instruments and other types of financing.
It also provides custody, clearing and related services in 28 securities markets worldwide."
It also provides custody, clearing and related services in 28 securities markets worldwide."
4 MIT students here studying ‘malunggay’ - INQUIRER.net, Philippine News for Filipinos
4 MIT students here studying ‘malunggay’ - INQUIRER.net, Philippine News for Filipinos: "MANILA, Philippines -- Our beaches are a lure, but these students from the Massachusetts Institute of Technology’s Sloan School of Management were enticed to come for an entirely different reason -- the lowly backyard malunggay.
Malunggay (scientific name: Moringa oleifera) is a fast-growing, drought-resistant tree with leaves that can, among other things, increase lactation in nursing mothers and address the problem of malnutrition.
It has actually been dubbed “the most nutritious plant in the world,” and is also an obligatory ingredient in chicken tinola (soup)."
Malunggay (scientific name: Moringa oleifera) is a fast-growing, drought-resistant tree with leaves that can, among other things, increase lactation in nursing mothers and address the problem of malnutrition.
It has actually been dubbed “the most nutritious plant in the world,” and is also an obligatory ingredient in chicken tinola (soup)."
4 MIT students here studying ‘malunggay’ - INQUIRER.net, Philippine News for Filipinos
4 MIT students here studying ‘malunggay’ - INQUIRER.net, Philippine News for Filipinos: "MANILA, Philippines -- Our beaches are a lure, but these students from the Massachusetts Institute of Technology’s Sloan School of Management were enticed to come for an entirely different reason -- the lowly backyard malunggay.
Malunggay (scientific name: Moringa oleifera) is a fast-growing, drought-resistant tree with leaves that can, among other things, increase lactation in nursing mothers and address the problem of malnutrition.
It has actually been dubbed “the most nutritious plant in the world,” and is also an obligatory ingredient in chicken tinola (soup)."
Malunggay (scientific name: Moringa oleifera) is a fast-growing, drought-resistant tree with leaves that can, among other things, increase lactation in nursing mothers and address the problem of malnutrition.
It has actually been dubbed “the most nutritious plant in the world,” and is also an obligatory ingredient in chicken tinola (soup)."
Friday, April 18, 2008
Tuesday, April 15, 2008
Jonathan_Beckerlegge
Jonathan_Beckerlegge: "UBS Think Tank in Wolfsberg
Trends in the Bio-Fuels Industries
Jonathan M. Beckerlegge, CFO, Bio Diesel Fuel Inc., York, U.K.
Thursday, 24 April 2008, 9.30 a.m. to 12.30 p.m., followed by a Buffet Lunch
Printversion
The Bio-Fuels industry is new, but it is already highly controversial. Some people argue that it is the way forward in a world that needs more and more energy, while others argue that bio-fuels compete with food products for humans, so bio-fuels are inherently immoral.
What is the history of the bio-fuels movement? What are latest developments in the field? Are there different sorts of bio-fuels and how are they positioned against one another? What are the factors that are going to influence the industry over the next 3 to 5 years?"
Trends in the Bio-Fuels Industries
Jonathan M. Beckerlegge, CFO, Bio Diesel Fuel Inc., York, U.K.
Thursday, 24 April 2008, 9.30 a.m. to 12.30 p.m., followed by a Buffet Lunch
Printversion
The Bio-Fuels industry is new, but it is already highly controversial. Some people argue that it is the way forward in a world that needs more and more energy, while others argue that bio-fuels compete with food products for humans, so bio-fuels are inherently immoral.
What is the history of the bio-fuels movement? What are latest developments in the field? Are there different sorts of bio-fuels and how are they positioned against one another? What are the factors that are going to influence the industry over the next 3 to 5 years?"
Sun.Star Bacolod - Hybrid rice savings pegged at US$50M
Sun.Star Bacolod - Hybrid rice savings pegged at US$50M: "THE Philippines stands to save US$50 million if hybridization technology is adapted without resistance and strong political commitment to public investment in irrigation system is done to ensure increased national productivity of rice by 25 percent.
In a study presented by Philippine Rice Research Institute (PhilRice) Negros station manager Edgar Libertario, he said this is despite problems on increasing 'young devouring' population by 2.6 as 60 percent of these are adolescents even as the Philippines is only presently producing two percent or even lower because of land conversion to non-rice ventures."
In a study presented by Philippine Rice Research Institute (PhilRice) Negros station manager Edgar Libertario, he said this is despite problems on increasing 'young devouring' population by 2.6 as 60 percent of these are adolescents even as the Philippines is only presently producing two percent or even lower because of land conversion to non-rice ventures."
Monday, April 14, 2008
Housing bubble is spreading overseas - UPI.com
Housing bubble is spreading overseas - UPI.com: "WASHINGTON, April 14 (UPI) -- Britain, Spain, India and Ireland are feeling the effects of falling real estate prices as the U.S. housing bubble spreads around the world, analysts said.
The International Monetary fund estimates homes in Spain, where prices tripled in the past 10 years, are overvalued by 15 percent, The New York Times reported. In parts of India, houses have declined 20 percent in the past year.
In Ireland, a home bought for $575,000 by university administrator Emma Linnane in May of 2006 would sell for about $475,000 in the spring of 2008, the report said."
The International Monetary fund estimates homes in Spain, where prices tripled in the past 10 years, are overvalued by 15 percent, The New York Times reported. In parts of India, houses have declined 20 percent in the past year.
In Ireland, a home bought for $575,000 by university administrator Emma Linnane in May of 2006 would sell for about $475,000 in the spring of 2008, the report said."
Friday, April 11, 2008
Gulfnews: Citi unveils $11.2m scheme to promote microfinance
Gulfnews: Citi unveils $11.2m scheme to promote microfinance: "Dubai: The Citi Foundation yesterday said it has launched a three-year $11.2 million international grant programme to advance the integration of microfinance into the mainstream economies of developing countries. Dubai: The Citi Foundation yesterday said it has launched a three-year $11.2 million international grant programme to advance the integration of microfinance into the mainstream economies of developing countries."
Monday, April 07, 2008
What has happened in 2005
What has happened in 2005: "What has happened in 2005
On November 24 through 26, Our President, Mario Emmanuel Salvdor and Vice President Gensei Ito participated in the 6th World Summit of Nobel Peace Laureates organized jointly by Gorbachev Foundation and City of Rome, in Rome, Italy. The theme of the conference was “Africa Emergency”.
The following is the speech that our President gave at the final session of the conference on 26th of November:"
On November 24 through 26, Our President, Mario Emmanuel Salvdor and Vice President Gensei Ito participated in the 6th World Summit of Nobel Peace Laureates organized jointly by Gorbachev Foundation and City of Rome, in Rome, Italy. The theme of the conference was “Africa Emergency”.
The following is the speech that our President gave at the final session of the conference on 26th of November:"
Daily Times - Leading News Resource of Pakistan - US to affect Philippines bourse
Daily Times - Leading News Resource of Pakistan - US to affect Philippines bourse: "US to affect Philippines bourse
MANILA: Philippine share prices will likely be determined by developments in the US economy in the coming days, dealers said Friday.
“We’re keeping track of what happens in the US market,” said Rommel Macapagal of Westlink Global Equities. If results are favourable, the Philippine composite index could “hurdle the 3,000-point level,” he said.
“The market depends a lot on jobs data coming out of the US,” said Prince Yeung of AB Capital Securities. If the job decline is less than expected, the index “will rally above the 3,000 level,” he said. However BPI Securities, in an advisory to clients, said “the pressure on share prices may persist as we head into a longer holiday weekend.”
“Investors may opt to stay somewhat liquid given the still uncertain and volatile US equity market,” it added.
There will be no trading on Monday which is a national holiday. For the week to April 4, the composite index rose 27.02 points or by 0.9 percent to 2,983.04 points.
Average daily turnover fell to 1.41 billion shares but average daily value rose to 3.2 billion pesos ($76.4 million) from 2.19 billion shares and 2.015 billion pesos in the previous week. afp"
MANILA: Philippine share prices will likely be determined by developments in the US economy in the coming days, dealers said Friday.
“We’re keeping track of what happens in the US market,” said Rommel Macapagal of Westlink Global Equities. If results are favourable, the Philippine composite index could “hurdle the 3,000-point level,” he said.
“The market depends a lot on jobs data coming out of the US,” said Prince Yeung of AB Capital Securities. If the job decline is less than expected, the index “will rally above the 3,000 level,” he said. However BPI Securities, in an advisory to clients, said “the pressure on share prices may persist as we head into a longer holiday weekend.”
“Investors may opt to stay somewhat liquid given the still uncertain and volatile US equity market,” it added.
There will be no trading on Monday which is a national holiday. For the week to April 4, the composite index rose 27.02 points or by 0.9 percent to 2,983.04 points.
Average daily turnover fell to 1.41 billion shares but average daily value rose to 3.2 billion pesos ($76.4 million) from 2.19 billion shares and 2.015 billion pesos in the previous week. afp"
Sunday, April 06, 2008
World rice crisis should help local growers - Chico Enterprise Record
World rice crisis should help local growers - Chico Enterprise Record: "By ROGER H. AYLWORTH - Staff Writer
Article Launched: 04/06/2008 12:04:38 AM PDT
Click photo to enlargeDick Carriere and his crew harvest some of his 1,300 acres of rice near Aguas Frias and Grainland...«1234»A growing global crisis with the potential to become a catastrophe may ironically have positive effects in this area.
For nearly half of the planet's population, survival hangs on having enough rice to eat daily. But the availability of this essential grain is sagging while the price skyrockets.
Government decisions, climate, and supply-and-demand pressures are behind the exploding prices.
Worldwide, there is going to be a 3.2 million metric ton shortage of rice this year, according to Lorenzo Pope, chief executive officer of Rice Researchers in Ord Bend."
Article Launched: 04/06/2008 12:04:38 AM PDT
Click photo to enlargeDick Carriere and his crew harvest some of his 1,300 acres of rice near Aguas Frias and Grainland...«1234»A growing global crisis with the potential to become a catastrophe may ironically have positive effects in this area.
For nearly half of the planet's population, survival hangs on having enough rice to eat daily. But the availability of this essential grain is sagging while the price skyrockets.
Government decisions, climate, and supply-and-demand pressures are behind the exploding prices.
Worldwide, there is going to be a 3.2 million metric ton shortage of rice this year, according to Lorenzo Pope, chief executive officer of Rice Researchers in Ord Bend."
AFP: Thai PM warns against rice hoarding
AFP: Thai PM warns against rice hoarding: "BANGKOK (AFP) — Thai Prime Minister Samak Sundaravej on Sunday urged the public not to hoard rice, promising for the second time in three days there would be enough for everyone in the kingdom.
With soaring global rice prices setting off fears of shortages and even unrest in some nations, the people of Thailand -- the world's number one rice exporter -- will not have to go without, he said.
The rising prices have sparked panic buying, as people stock up in hopes of beating future price hikes. Meanwhile exporters have accused mills and middlemen of hoarding in hopes of more price increases in the near future."
With soaring global rice prices setting off fears of shortages and even unrest in some nations, the people of Thailand -- the world's number one rice exporter -- will not have to go without, he said.
The rising prices have sparked panic buying, as people stock up in hopes of beating future price hikes. Meanwhile exporters have accused mills and middlemen of hoarding in hopes of more price increases in the near future."
Cost of rice "stable" in China_English_Xinhua
Cost of rice "stable" in China_English_Xinhua: "China only imports a small amount of rice for the high-end market, according to Li Chenggui, an agricultural expert with the Chinese Academy of Social Sciences. 'But the amount of rice China imports from Thailand is very small, so the higher price won't affect the overall situation,' Li said.
Rice from Thailand and Vietnam, the world's major exporters of the product, has seen a sharp price increase, causing turmoil on the global market.
Rice shortages have been reported in many countries and consumers have begun stockpiling the product.
The cost of a ton of medium-grade rice from Thailand has more than doubled since the beginning of the year. A Thai government official recently said prices could rise higher still, according to a Wall Street Journal report.
But consumers and the business community in China remain calm. One trader in Panjin, a key rice-producing area in Liaoning province, said the price has actually dipped slightly this year."
Rice from Thailand and Vietnam, the world's major exporters of the product, has seen a sharp price increase, causing turmoil on the global market.
Rice shortages have been reported in many countries and consumers have begun stockpiling the product.
The cost of a ton of medium-grade rice from Thailand has more than doubled since the beginning of the year. A Thai government official recently said prices could rise higher still, according to a Wall Street Journal report.
But consumers and the business community in China remain calm. One trader in Panjin, a key rice-producing area in Liaoning province, said the price has actually dipped slightly this year."
Cost of rice "stable" in China_English_Xinhua
Cost of rice "stable" in China: "BEIJING, April 5 -- The cost of rice remains stable, despite the staple food's worldwide price hike, government sources said.
The grain's price is stable in China, the National Development and Reform Commission said on its website. Meanwhile, the Ministry of Commerce said the rice retail price has seen a 'continual decline' in the past week.
Rice is a staple food for Chinese, but its price isn't influenced by the world market as the nation mainly relies on domestic supply rather than imports to meet demand, traders and agricultural experts said."
The grain's price is stable in China, the National Development and Reform Commission said on its website. Meanwhile, the Ministry of Commerce said the rice retail price has seen a 'continual decline' in the past week.
Rice is a staple food for Chinese, but its price isn't influenced by the world market as the nation mainly relies on domestic supply rather than imports to meet demand, traders and agricultural experts said."
Asian countries looking for ways amid soaring rice prices_English_Xinhua
Asian countries looking for ways amid soaring rice prices_English_Xinhua: "Asian countries looking for ways amid soaring rice prices
www.chinaview.cn 2008-04-06 09:48:07 Print
By Lin Rong
HONG KONG, April 6 (Xinhua) -- Philippine President Gloria Macapagal-Arroyo convened a food summit with top officials and farm experts on Friday, looking for ways to prevent the emerging rice crisis from severely affecting the world's biggest importer of rice.
This came as the latest effort by the Philippine government to ensure food supplies and control soaring rice prices, which is also seen a major task in other Asian countries, where rice is consumed daily by every household.
CRISIS BEYOND PHILIPPINES
Part of a surge in global food price, international rice prices have increased by about 20 percent in the past three months and at least doubled since 2004, said a recent statement by the UN Food and Agriculture Organization. There are concerns prices could rise further in coming months."
www.chinaview.cn 2008-04-06 09:48:07 Print
By Lin Rong
HONG KONG, April 6 (Xinhua) -- Philippine President Gloria Macapagal-Arroyo convened a food summit with top officials and farm experts on Friday, looking for ways to prevent the emerging rice crisis from severely affecting the world's biggest importer of rice.
This came as the latest effort by the Philippine government to ensure food supplies and control soaring rice prices, which is also seen a major task in other Asian countries, where rice is consumed daily by every household.
CRISIS BEYOND PHILIPPINES
Part of a surge in global food price, international rice prices have increased by about 20 percent in the past three months and at least doubled since 2004, said a recent statement by the UN Food and Agriculture Organization. There are concerns prices could rise further in coming months."
Saturday, April 05, 2008
biofuels international
biofuels international: "Philippines bioethanol capacity to expand
12th March, 2008
The Philippine government signed a $30 million (€19.6 million) project agreement to expand the capacity of the country's first bioethanol plant from 145,000 litres a day to 200,000 litres.
The pact calls for increased cooperation in developing biofuel feedstock.
'The department is prioritising the development of fuel ethanol and bioenergy industries to supply the needs of the domestic market as well as fulfill the goals of the Biofuels Act of 2006,' Agriculture Secretary Arthur Yap says.
US-based private equity fund manager FE Clean Energy and UK-headquartered bioenergy developer and investor Bronzeaok are building the country's first ethanol and bioenergy plant, San Carlos Bioenergy, in San Carlos, Negros Occidental, with the backing of the National Biofuel Feedstock Development Programme and Philippine Agricultural Development and Commercial Corp.
Using sugarcane as a feedstock, the plant will produce ethanol for blending with petroleum and electrical power for the national grid. The San Carlos plant is expected to be fully operational by November, in time to contribute to meeting the January 2009 bioethanol-petroleum blending requirements of the Biofuels Act."
12th March, 2008
The Philippine government signed a $30 million (€19.6 million) project agreement to expand the capacity of the country's first bioethanol plant from 145,000 litres a day to 200,000 litres.
The pact calls for increased cooperation in developing biofuel feedstock.
'The department is prioritising the development of fuel ethanol and bioenergy industries to supply the needs of the domestic market as well as fulfill the goals of the Biofuels Act of 2006,' Agriculture Secretary Arthur Yap says.
US-based private equity fund manager FE Clean Energy and UK-headquartered bioenergy developer and investor Bronzeaok are building the country's first ethanol and bioenergy plant, San Carlos Bioenergy, in San Carlos, Negros Occidental, with the backing of the National Biofuel Feedstock Development Programme and Philippine Agricultural Development and Commercial Corp.
Using sugarcane as a feedstock, the plant will produce ethanol for blending with petroleum and electrical power for the national grid. The San Carlos plant is expected to be fully operational by November, in time to contribute to meeting the January 2009 bioethanol-petroleum blending requirements of the Biofuels Act."
biofuels international
biofuels international: "Russia to build 30 bioethanol plants
20th March, 2008
Russia will eventually produce 2 million tonnes of ethanol a year if the programme is successfulThe Russian government will back the construction of 30 new ethanol plants to produce biofuels, Prime Minister Viktor Zubkov has announced.
A government programme to develop biofuel production will begin this year. Apart from the construction of new ethanol plants, the programme will also upgrade existing facilities.
Russia will eventually produce 2 million tonnes of ethanol a year if the programme is successful. Some of the plants are likely to produce ethanol from timber waste, such as sawdust, Alexei Ablayev, director of the National Biofuel Association, says. The Russian plants could also make ethanol from such crops as wheat.
Researchers are close to developing a technology to make fuel out of timber waste that will be as efficient as the current conversion of crops into fuel.
Approximately 30 Russian plants which made ethanol from non-crop raw materials became bankrupt with the collapse of the Soviet Union due to the plants' technology making the fuel too expensive.
Plans to divert some of the country's crop harvests to make fuel should not send bread prices soaring because there is room to grow larger harvests, Ablayev says. In October Agriculture Minister Alexei Gordeyev stated that Russia has 20 million hectares of unused arable lands.
If ethanol production does take off in Russia, it will target the export market to begin with, Ablayev says. The government charges an excise duty of at least 26 rubles (€0.71) to sell 1 litre of ethanol."
20th March, 2008
Russia will eventually produce 2 million tonnes of ethanol a year if the programme is successfulThe Russian government will back the construction of 30 new ethanol plants to produce biofuels, Prime Minister Viktor Zubkov has announced.
A government programme to develop biofuel production will begin this year. Apart from the construction of new ethanol plants, the programme will also upgrade existing facilities.
Russia will eventually produce 2 million tonnes of ethanol a year if the programme is successful. Some of the plants are likely to produce ethanol from timber waste, such as sawdust, Alexei Ablayev, director of the National Biofuel Association, says. The Russian plants could also make ethanol from such crops as wheat.
Researchers are close to developing a technology to make fuel out of timber waste that will be as efficient as the current conversion of crops into fuel.
Approximately 30 Russian plants which made ethanol from non-crop raw materials became bankrupt with the collapse of the Soviet Union due to the plants' technology making the fuel too expensive.
Plans to divert some of the country's crop harvests to make fuel should not send bread prices soaring because there is room to grow larger harvests, Ablayev says. In October Agriculture Minister Alexei Gordeyev stated that Russia has 20 million hectares of unused arable lands.
If ethanol production does take off in Russia, it will target the export market to begin with, Ablayev says. The government charges an excise duty of at least 26 rubles (€0.71) to sell 1 litre of ethanol."
biofuels international
biofuels international: "New yeast brews better bioethanol
27th March, 2008
Gekkeikan General Research Institute has developed a new production technology for bioethanol.
The institute produces ethanol from inedible plant materials such as chaff and paddy straw by using sake yeast genetically modified with koji mould (aspergilli) genes.
The new method pre-treats plants for fermentation with high-temperature and pressure water, not with chemical agents.
The research was conducted as a part of the Innovative Technology Development Research Project, which was established by Japan Science and Technology Agency (JST), with the help of researchers from Kobe University, Kyoto University and Tohoku University.
Plant cellulose, a raw material for bioethanol, has a chemically-stable and robust structure. The strength of the structure is weakened by the subcritical water treatment method to be ready for fermentation.
In a subcritical region, water is at a high temperature and pressure (150-370°C) and acidic. But when the temperature and pressure decline, it quickly becomes neutral. Plant cellulose can be pretreated with a devise simpler than the one used for supercritical water (above 374°C and 22.1MPa).
From the perspectives of environmental load and safety, the new method is superior to the existing pretreatment method that uses chemical agents such as sulfuric acid.
Koji mould's genes that produce cellulolytic enzymes were incorporated in sake yeast so that the enzymes are densely arranged on the surfaces of the yeast cells.
In normal sake brewing, alcohol is produced by two processes: Koji mould dissolves rice starch into sugar, and yeast ferments the sugar. The new yeast has the functions of koji mould and can produce ethanol by itself from cellulose pretreated with subcritical water."
27th March, 2008
Gekkeikan General Research Institute has developed a new production technology for bioethanol.
The institute produces ethanol from inedible plant materials such as chaff and paddy straw by using sake yeast genetically modified with koji mould (aspergilli) genes.
The new method pre-treats plants for fermentation with high-temperature and pressure water, not with chemical agents.
The research was conducted as a part of the Innovative Technology Development Research Project, which was established by Japan Science and Technology Agency (JST), with the help of researchers from Kobe University, Kyoto University and Tohoku University.
Plant cellulose, a raw material for bioethanol, has a chemically-stable and robust structure. The strength of the structure is weakened by the subcritical water treatment method to be ready for fermentation.
In a subcritical region, water is at a high temperature and pressure (150-370°C) and acidic. But when the temperature and pressure decline, it quickly becomes neutral. Plant cellulose can be pretreated with a devise simpler than the one used for supercritical water (above 374°C and 22.1MPa).
From the perspectives of environmental load and safety, the new method is superior to the existing pretreatment method that uses chemical agents such as sulfuric acid.
Koji mould's genes that produce cellulolytic enzymes were incorporated in sake yeast so that the enzymes are densely arranged on the surfaces of the yeast cells.
In normal sake brewing, alcohol is produced by two processes: Koji mould dissolves rice starch into sugar, and yeast ferments the sugar. The new yeast has the functions of koji mould and can produce ethanol by itself from cellulose pretreated with subcritical water."
biofuels international
biofuels international: "Brazilian state to build 10 ethanol and sugar plants
4th April, 2008
The southern Brazilian state of Paraná will construct 10 ethanol and sugar plants due for operation in 2010.
The state is the country's second largest ethanol producer and the fourth largest sugar producer. Planted area for sugarcane is set to increase by 16.5% in the 2007/2008 crop.
In 2007, two new units entered into operation. Another unit should be inaugurated this year, and by 2010 nine others are expected to join the 23 active plants.
According to the Association of Alcohol and Sugar Producers of the State of Paraná (Alcopar), in the 2005/2006 crop the state ranked as the second largest Brazilian ethanol producer. Production totalled 1.042 million m3, against 9.951 million in the state of São Paulo.
The Secretariat of Agriculture estimates that the 2007/2008 sugarcane crop might reach 55.2 million tonnes, which would represent an increase of 16.5% over the previous crop. Planted area should rise from 536,071 hectares to 622,506 hectares.
Last year, the state of Paraná exported 1.465 million tonnes of sugar, generating revenues of $384.4 million (€245 million) for the state."
4th April, 2008
The southern Brazilian state of Paraná will construct 10 ethanol and sugar plants due for operation in 2010.
The state is the country's second largest ethanol producer and the fourth largest sugar producer. Planted area for sugarcane is set to increase by 16.5% in the 2007/2008 crop.
In 2007, two new units entered into operation. Another unit should be inaugurated this year, and by 2010 nine others are expected to join the 23 active plants.
According to the Association of Alcohol and Sugar Producers of the State of Paraná (Alcopar), in the 2005/2006 crop the state ranked as the second largest Brazilian ethanol producer. Production totalled 1.042 million m3, against 9.951 million in the state of São Paulo.
The Secretariat of Agriculture estimates that the 2007/2008 sugarcane crop might reach 55.2 million tonnes, which would represent an increase of 16.5% over the previous crop. Planted area should rise from 536,071 hectares to 622,506 hectares.
Last year, the state of Paraná exported 1.465 million tonnes of sugar, generating revenues of $384.4 million (€245 million) for the state."
Bloomberg.com: News
Bloomberg.com: News: "Russia May Sign 3-Sub Deal With Venezuela By May, Interfax Says
By Patrick Henry
April 4 (Bloomberg) -- Russia may sign a contract to sell Venezuela three Varshavyanka-class diesel-powered submarines in the next two months, Interfax reported today, citing an unidentified Russian defense-industry official.
Negotiations on the contract are ``practically complete,'' and the signing of the contract will ``probably'' be timed to coincide with Venezuelan President Hugo Chavez's visit to Moscow next month, the Russian news service said, citing the official.
To contact the reporter on this story: Patrick Henry in Moscow at phenry8@bloomberg.net
Last Updated: April 4, 2008 05:47 EDT"
By Patrick Henry
April 4 (Bloomberg) -- Russia may sign a contract to sell Venezuela three Varshavyanka-class diesel-powered submarines in the next two months, Interfax reported today, citing an unidentified Russian defense-industry official.
Negotiations on the contract are ``practically complete,'' and the signing of the contract will ``probably'' be timed to coincide with Venezuelan President Hugo Chavez's visit to Moscow next month, the Russian news service said, citing the official.
To contact the reporter on this story: Patrick Henry in Moscow at phenry8@bloomberg.net
Last Updated: April 4, 2008 05:47 EDT"
Bloomberg.com: News
Bloomberg.com: News: "Russian Stocks: Gazprom, Rosneft, Wimm-Bill-Dann Shares
By William Mauldin
March 28 (Bloomberg) -- Russia's Micex Index rose for a second day, gaining 0.8 percent to 1,631.31 at 12:56 p.m. in Moscow as 19 stocks advanced and 11 retreated. The dollar- denominated RTS Index increased 0.9 percent to 2,047.34.
The following were among the most active stocks in the Russian market today. Symbols are in parentheses.
OAO Gazprom (GAZP RX) climbed 1.4 percent to 301.20 on the Micex Stock Exchange, its highest level in two weeks. Deutsche Bank AG boosted its price estimate for shares of the world's biggest natural-gas producer 6.7 percent to $20.80 (489 rubles), saying Gazprom may benefit from higher global gas prices.
OAO Rosneft (ROSN RX) rose 2.4 percent to 210.98 rubles, the best performer in the Micex Index today. Deutsche Bank raised its price estimate for shares of Russia's biggest oil producer 4.6 percent to $18.30 (430 rubles), citing Brent crude prices that may average $95.50 a barrel this year and $102.50 next year."
By William Mauldin
March 28 (Bloomberg) -- Russia's Micex Index rose for a second day, gaining 0.8 percent to 1,631.31 at 12:56 p.m. in Moscow as 19 stocks advanced and 11 retreated. The dollar- denominated RTS Index increased 0.9 percent to 2,047.34.
The following were among the most active stocks in the Russian market today. Symbols are in parentheses.
OAO Gazprom (GAZP RX) climbed 1.4 percent to 301.20 on the Micex Stock Exchange, its highest level in two weeks. Deutsche Bank AG boosted its price estimate for shares of the world's biggest natural-gas producer 6.7 percent to $20.80 (489 rubles), saying Gazprom may benefit from higher global gas prices.
OAO Rosneft (ROSN RX) rose 2.4 percent to 210.98 rubles, the best performer in the Micex Index today. Deutsche Bank raised its price estimate for shares of Russia's biggest oil producer 4.6 percent to $18.30 (430 rubles), citing Brent crude prices that may average $95.50 a barrel this year and $102.50 next year."
Bloomberg.com: News
Bloomberg.com: News: "Russian Oil Output May Fall for First Time in Decade in 2008
By Greg Walters
March 27 (Bloomberg) -- Russian oil output may fall this year for the first time in a decade as the world's second-biggest supplier struggles with rising costs and harder-to-reach fields, Natural Resources Minister Yuri Trutnev said.
``Two years ago, we said the growth rate was falling, and we said this was bad for Russia, remember?'' Trutnev said in televised remarks after a government meeting in Moscow today. ``Now we're saying the production rate is falling this year. This is not a bogeyman, unfortunately, this is real,'' Trutnev said, without giving a specific forecast.
A decline would end a 10-year, 58 percent surge in production, which fell to 6.2 million barrels a day in 1998, when prices dipped below $10 a barrel and Russia defaulted on about $40 billion of domestic debt and devalued the ruble."
By Greg Walters
March 27 (Bloomberg) -- Russian oil output may fall this year for the first time in a decade as the world's second-biggest supplier struggles with rising costs and harder-to-reach fields, Natural Resources Minister Yuri Trutnev said.
``Two years ago, we said the growth rate was falling, and we said this was bad for Russia, remember?'' Trutnev said in televised remarks after a government meeting in Moscow today. ``Now we're saying the production rate is falling this year. This is not a bogeyman, unfortunately, this is real,'' Trutnev said, without giving a specific forecast.
A decline would end a 10-year, 58 percent surge in production, which fell to 6.2 million barrels a day in 1998, when prices dipped below $10 a barrel and Russia defaulted on about $40 billion of domestic debt and devalued the ruble."
Bloomberg.com: News
Bloomberg.com: News: "Russia May Cut Oil Tax by $4.2 Billion a Year in 2009 (Update3)
By Greg Walters and Alex Nicholson
March 25 (Bloomberg) -- Russia, the world's biggest oil exporter after Saudi Arabia, may cut its crude extraction tax by 100 billion rubles ($4.2 billion) a year to help companies boost output, Finance Minister Alexei Kudrin said.
``I suspect this is just a start,'' Ronald Smith, chief strategist with Moscow-based Alfa Bank, said by phone today. ``Four billion dollars probably isn't enough to make a big difference, but this is a very good beginning.''"
By Greg Walters and Alex Nicholson
March 25 (Bloomberg) -- Russia, the world's biggest oil exporter after Saudi Arabia, may cut its crude extraction tax by 100 billion rubles ($4.2 billion) a year to help companies boost output, Finance Minister Alexei Kudrin said.
``I suspect this is just a start,'' Ronald Smith, chief strategist with Moscow-based Alfa Bank, said by phone today. ``Four billion dollars probably isn't enough to make a big difference, but this is a very good beginning.''"
Bloomberg.com: News
Bloomberg.com: News: "Lukoil Plans `Big Acquisitions' This Year; Cuts Output Target
By Torrey Clark
April 4 (Bloomberg) -- OAO Lukoil, Russia's largest independent crude producer, plans ``big acquisitions'' this year after cutting the output target for its existing oil fields, Chief Executive Officer Vagit Alekperov said.
Oil output, not including possible acquisitions, will increase 1.8 percent to 2 percent this year, Alekperov said in St. Petersburg, according to an e-mailed statement. In January, he said combined crude and natural gas production may rise 5 percent to 7 percent in 2008.
``The company is preparing for big acquisitions,'' Alekperov said. Lukoil is still looking to buy refineries in southern and northern Europe, Alekperov said. He declined to comment on whether the company would by ERG SpA's refinery in Sicily."
By Torrey Clark
April 4 (Bloomberg) -- OAO Lukoil, Russia's largest independent crude producer, plans ``big acquisitions'' this year after cutting the output target for its existing oil fields, Chief Executive Officer Vagit Alekperov said.
Oil output, not including possible acquisitions, will increase 1.8 percent to 2 percent this year, Alekperov said in St. Petersburg, according to an e-mailed statement. In January, he said combined crude and natural gas production may rise 5 percent to 7 percent in 2008.
``The company is preparing for big acquisitions,'' Alekperov said. Lukoil is still looking to buy refineries in southern and northern Europe, Alekperov said. He declined to comment on whether the company would by ERG SpA's refinery in Sicily."
BLOOMBERG: Search Results: OIL
Search Results: OIL: "Crude Oil Rises as US Refinery Shutdowns Reduce Fuel Supplies ... Crude Oil Rises as US Refinery Shutdowns Reduce Fuel Supplies April 4 (Bloomberg) --
Crude oil rose in New York as lower refinery production and unplanned ...
- 2008-04-04
Mideast Crudes Fall a Third Day as Refiners Shut for Repairs April ... Mideast Crudes Fall a Third Day as Refiners Shut for Repairs April 4 (Bloomberg) --
Oman crude oil, a Middle East benchmark for Asia, and Abu Dhabi's Murban ...
- 2008-04-04
Oil Rises as Dollar Falls, Bolstering the Appeal of Commodities ... Oil Rises as Dollar Falls, Bolstering the Appeal of Commodities April 4 (Bloomberg) --
Crude oil rose more than $1 a barrel as the dollar fell against the euro ...
- 2008-04-04
Oil Market Is Well-Supplied, Nigeria's Oil Minister Says April 3 ... Oil Market Is Well-Supplied, Nigeria's Oil Minister Says April 3 (Bloomberg) --
The oil market is well-supplied, Nigerian Oil Minister Odein Ajumogobia said at ...
- 2008-04-04"
Crude oil rose in New York as lower refinery production and unplanned ...
- 2008-04-04
Mideast Crudes Fall a Third Day as Refiners Shut for Repairs April ... Mideast Crudes Fall a Third Day as Refiners Shut for Repairs April 4 (Bloomberg) --
Oman crude oil, a Middle East benchmark for Asia, and Abu Dhabi's Murban ...
- 2008-04-04
Oil Rises as Dollar Falls, Bolstering the Appeal of Commodities ... Oil Rises as Dollar Falls, Bolstering the Appeal of Commodities April 4 (Bloomberg) --
Crude oil rose more than $1 a barrel as the dollar fell against the euro ...
- 2008-04-04
Oil Market Is Well-Supplied, Nigeria's Oil Minister Says April 3 ... Oil Market Is Well-Supplied, Nigeria's Oil Minister Says April 3 (Bloomberg) --
The oil market is well-supplied, Nigerian Oil Minister Odein Ajumogobia said at ...
- 2008-04-04"
Bloomberg.com: Worldwide
Bloomberg.com: Worldwide: "UBS Former President Arnold Proposes Overhaul of Bank (Update7)
By Elena Logutenkova and Warren Giles
April 4 (Bloomberg) -- Former UBS AG President Luqman Arnold called for a breakup of the biggest Swiss bank after about $38 billion of writedowns on debt securities erased more than half its market value in the past year.
Arnold, whose Olivant Advisers Ltd. holds 0.7 percent of Zurich-based UBS, made his proposals in a letter to board member Sergio Marchionne that was released today. UBS reported a 12 billion-Swiss franc ($11.9 billion) first-quarter loss on April 1 and said Chairman Marcel Ospel will leave."
By Elena Logutenkova and Warren Giles
April 4 (Bloomberg) -- Former UBS AG President Luqman Arnold called for a breakup of the biggest Swiss bank after about $38 billion of writedowns on debt securities erased more than half its market value in the past year.
Arnold, whose Olivant Advisers Ltd. holds 0.7 percent of Zurich-based UBS, made his proposals in a letter to board member Sergio Marchionne that was released today. UBS reported a 12 billion-Swiss franc ($11.9 billion) first-quarter loss on April 1 and said Chairman Marcel Ospel will leave."
"Syngenta AG, the world's biggest maker of agricultural chemicals, rose as much as 7.4 percent in Zurich trading after saying first-quarter sales gained 20 percent and increasing its full-year profit forecast on rising demand for rice, corn and other food crops.
Rice climbed to a record in Chicago trading and corn came close to its highest price on speculation that a 3 percent annual increase in global demand for cereals will outstrip supply as governments curb exports to prevent protests.
– Bloomberg"
Rice climbed to a record in Chicago trading and corn came close to its highest price on speculation that a 3 percent annual increase in global demand for cereals will outstrip supply as governments curb exports to prevent protests.
– Bloomberg"
Gil Evans-Out of the Cool: His Life and Music
Gil Evans-Out of the Cool: His Life and Music: "Gil Evans-Out of the Cool
Stephanie Stein Crease
A Cappella Books
ISBN: 1-55652-425-0
A new, welcome book on the life of the great arranger and musical ideologist Gil Evans provides a portrayal of a multi-faceted man, both professionally and personally.
While magazine articles and items found in the writings about other musicians have given us thumbnail snippets of the life of this quiet, non-self-promoter, Gil Evans: Out of the Cool, His Life and Music (A Cappella Books, 384 pages) by Stephanie Stein Crease, brings together — and then some. It provides insight from Gil's associates, wives and Gil himself, bundling the days of this important American musical figure into an interesting and well-researched package."
Stephanie Stein Crease
A Cappella Books
ISBN: 1-55652-425-0
A new, welcome book on the life of the great arranger and musical ideologist Gil Evans provides a portrayal of a multi-faceted man, both professionally and personally.
While magazine articles and items found in the writings about other musicians have given us thumbnail snippets of the life of this quiet, non-self-promoter, Gil Evans: Out of the Cool, His Life and Music (A Cappella Books, 384 pages) by Stephanie Stein Crease, brings together — and then some. It provides insight from Gil's associates, wives and Gil himself, bundling the days of this important American musical figure into an interesting and well-researched package."
Chick Corea's Spirit of Creativity
Chick Corea's Spirit of Creativity: "“It's harder and harder” to create art, reflected Chick Corea not long before the war in Iraq began. “As hard as it is for you and every other person to even travel on any airlines, that's one reflection of how hard it is to get artistic creations happening in the world today. But it's not impossible.”"
Live at the Royal Festival Hall
Live at the Royal Festival Hall: "Four long years had passed since McLaughlin's last record when JMT released Live at the Royal Festival Hall in 1990. The brilliant percussionist Trilok Gurtu, of Oregon fame, joined him—along with superb bassist Kai Eckhardt—to form an exciting band which was to exist in one form or another (with revolving bassists) for five more years."
DailyWealth: Warren Buffett’s Favorite Energy Hedge Fund
DailyWealth: Warren Buffett’s Favorite Energy Hedge Fund: "Warren Buffett’s Favorite Energy Hedge Fund
by Matt Badiali
August 25, 2006
The names of the investors stopped me in my tracks.
Warren Buffett owns 17.9 million shares. David Dreman owns 11 million shares. And Bill Nygren owns 2.5 million shares.
You may not know Nygren… but his Oakmark Select Fund has returned 18% since its inception in 1996. The fund was ranked 30th in a recent Barron's/Value Line Top 100 Mutual Fund Survey. He's easily among the top 20 value investors in the world"
by Matt Badiali
August 25, 2006
The names of the investors stopped me in my tracks.
Warren Buffett owns 17.9 million shares. David Dreman owns 11 million shares. And Bill Nygren owns 2.5 million shares.
You may not know Nygren… but his Oakmark Select Fund has returned 18% since its inception in 1996. The fund was ranked 30th in a recent Barron's/Value Line Top 100 Mutual Fund Survey. He's easily among the top 20 value investors in the world"
Porter Stansberry's Investment Research - Can AMERICA'S 'NEW CURRENCY' Save Your Retirement?
Porter Stansberry's Investment Research - Can AMERICA'S 'NEW CURRENCY' Save Your Retirement?: "Can AMERICA'S
'NEW CURRENCY' Save
Your Retirement?
It has nothing to do with silver, gold, or commodities... yet this little-known investment could return 425% or more in the next 12 months, no
matter what happens to the U.S. economy. Can AMERICA'S
'NEW CURRENCY' Save
Your Retirement?
It has nothing to do with silver, gold, or commodities... yet this little-known investment could return 425% or more in the next 12 months, no
matter what happens to the U.S. economy."
'NEW CURRENCY' Save
Your Retirement?
It has nothing to do with silver, gold, or commodities... yet this little-known investment could return 425% or more in the next 12 months, no
matter what happens to the U.S. economy. Can AMERICA'S
'NEW CURRENCY' Save
Your Retirement?
It has nothing to do with silver, gold, or commodities... yet this little-known investment could return 425% or more in the next 12 months, no
matter what happens to the U.S. economy."
"JPMorgan and the U.S. Treasury just saved us from the real risk of Depression...
It was the Panic of '07. The economy was weakening. Stocks were falling. Banks had lent too much and were now seriously tightening up. It all came to a head when a major bank was about to fail. Something had to be done.
The U.S. Treasury understood the risk of a downward spiral. So after a secret meeting, it took the surprising step of providing a whopping $30 million to JPMorgan and other bankers. The goal was huge... it was to save the U.S. financial system. In hindsight, it worked..."
It was the Panic of '07. The economy was weakening. Stocks were falling. Banks had lent too much and were now seriously tightening up. It all came to a head when a major bank was about to fail. Something had to be done.
The U.S. Treasury understood the risk of a downward spiral. So after a secret meeting, it took the surprising step of providing a whopping $30 million to JPMorgan and other bankers. The goal was huge... it was to save the U.S. financial system. In hindsight, it worked..."
Major UBS shareholder says move to break the bank up 'does not make sense'
Major UBS shareholder says move to break the bank up 'does not make sense': "LONDON, Apr. 4, 2008 (Thomson Financial delivered by Newstex) -- A significant UBS (NYSE:UBS) AG shareholder on Friday dismissed suggestions by its former CEO that the bank should be broken up.
The investor, who requested anonymity, told Thomson Investment Management News: 'This is just not the right time for UBS - they have other priorities that need to be sorted out. Such an idea may have made sense 12 months ago, but today it does not make sense. In short, it's not going to happen.'
Luqman Arnold, the former chief executive of UBS, has called on the bank to be split into separate wealth management and investment bank businesses in the long term. In the short-term, he believes the bank should overhaul its corporate governance and raise additional capital by disposing off its asset management arm and its Brazilian and Australian businesses."
The investor, who requested anonymity, told Thomson Investment Management News: 'This is just not the right time for UBS - they have other priorities that need to be sorted out. Such an idea may have made sense 12 months ago, but today it does not make sense. In short, it's not going to happen.'
Luqman Arnold, the former chief executive of UBS, has called on the bank to be split into separate wealth management and investment bank businesses in the long term. In the short-term, he believes the bank should overhaul its corporate governance and raise additional capital by disposing off its asset management arm and its Brazilian and Australian businesses."
Testimony Offers Details of Bear Stearns Deal - New York Times
Testimony Offers Details of Bear Stearns Deal - New York Times: "WASHINGTON — Three weeks after the market crisis that forced the rescue of Bear Stearns, federal officials and senior Wall Street executives offered their first public account on Thursday of the harrowing four days of negotiations that led to a deal to sell the investment bank to JPMorgan Chase."
Friday, April 04, 2008
Economics Blog : The $30 Billion Loan: The Parties Weigh In
Economics Blog : The $30 Billion Loan: The Parties Weigh In: "The $30 Billion Loan: The Parties Weigh In
The Federal Reserve Bank of New York, and the chief executives of J.P. Morgan and Bear Stearns, offered their take today on the $30 billion loan agreement to support the sale of Bear Stearns. J.P. Morgan will take the first $1 billion in losses, leaving the government on the hook for up to $29 billion.
Timothy Geithner, president of the Federal Reserve Bank of New York, which negotiated the loan:
This guarantee was especially important to stave off the feared systemic effects that would be triggered by the panic of a Bear bankruptcy filing and of the failure to honor its obligations. And by agreeing to lend against a portfolio of securities, we reduced the risk that those assets would be liquidated quickly, exacerbating already fragile conditions in markets. …"
The Federal Reserve Bank of New York, and the chief executives of J.P. Morgan and Bear Stearns, offered their take today on the $30 billion loan agreement to support the sale of Bear Stearns. J.P. Morgan will take the first $1 billion in losses, leaving the government on the hook for up to $29 billion.
Timothy Geithner, president of the Federal Reserve Bank of New York, which negotiated the loan:
This guarantee was especially important to stave off the feared systemic effects that would be triggered by the panic of a Bear bankruptcy filing and of the failure to honor its obligations. And by agreeing to lend against a portfolio of securities, we reduced the risk that those assets would be liquidated quickly, exacerbating already fragile conditions in markets. …"
Bankersalmanac.com - Top 50 Banks in the World
Bankersalmanac.com - Top 50 Banks in the World: "Top 50 Banks in the World
All banks in the Bankersalmanac.com World 's Top 50 Banks have been ranked by total assets in US$*.
For a full listing of the top 3,000 banks in the world click on the World Ranking within an individual bank entry (e.g. click on UBS AG below, then click on World Rank which appears in the Status section of the Institution Report).
Current
Rank Previous
Rank BANK Assets
US$m + or -
(local curr)Capital
US$m Balance
Sheet
1 (1) UBS AG , Zürich , Switzerland*1,963,227+16.43%172.8531.12.06
2(2) Barclays PLC , London , UK*1,951,041+7.84%3,198.2831.12.06
3(-) BNP Paribas SA , Paris , France*1,899,186+14.49%20,555.1231.12.06
4(3) The Royal Bank of Scotland Group plc , Edinburgh , UK*1,705,680+12.18%1,595.2231.12.06
5(4) Crédit Agricole SA , Paris , France*1,663,101+18.83%22,423.5231.12.06
6(5) Deutsche Bank AG , Frankfurt am Main , Germany*1,485,008+13.51%1,770.8331.12.06
7(7) The Bank of Tokyo-Mitsubishi UFJ Ltd , Tokyo , Japan*1,362,598+74.66%8,449.6431.03.06
8(8) ABN AMRO Holding NV , Amsterdam , Netherlands*1,301,508+12.06%1,430.6431.12.06
9(9) Société Générale , Paris La Défense , France*1,261,657+14.57%760.8131.12.0"
All banks in the Bankersalmanac.com World 's Top 50 Banks have been ranked by total assets in US$*.
For a full listing of the top 3,000 banks in the world click on the World Ranking within an individual bank entry (e.g. click on UBS AG below, then click on World Rank which appears in the Status section of the Institution Report).
Current
Rank Previous
Rank BANK Assets
US$m + or -
(local curr)Capital
US$m Balance
Sheet
1 (1) UBS AG , Zürich , Switzerland*1,963,227+16.43%172.8531.12.06
2(2) Barclays PLC , London , UK*1,951,041+7.84%3,198.2831.12.06
3(-) BNP Paribas SA , Paris , France*1,899,186+14.49%20,555.1231.12.06
4(3) The Royal Bank of Scotland Group plc , Edinburgh , UK*1,705,680+12.18%1,595.2231.12.06
5(4) Crédit Agricole SA , Paris , France*1,663,101+18.83%22,423.5231.12.06
6(5) Deutsche Bank AG , Frankfurt am Main , Germany*1,485,008+13.51%1,770.8331.12.06
7(7) The Bank of Tokyo-Mitsubishi UFJ Ltd , Tokyo , Japan*1,362,598+74.66%8,449.6431.03.06
8(8) ABN AMRO Holding NV , Amsterdam , Netherlands*1,301,508+12.06%1,430.6431.12.06
9(9) Société Générale , Paris La Défense , France*1,261,657+14.57%760.8131.12.0"
10 top-performing Fortune 500 stocks - Jan. 4, 2008
10 top-performing Fortune 500 stocks - Jan. 4, 2008: "NEW YORK (CNNMoney.com) -- In a choppy year for big stocks, when the Dow Jones industrial average was up 6 percent and the index's best-performing stock - Honeywell - returned 38 percent, the top-performing Fortune 500 stock did much better - returning more than 300 percent to investors.
On the other hand, the worst-performing Fortune 500 stock returned negative 98 percent vs. the negative 45 percent returned by Citigroup, the Dow's poorest performer.
Here are the Fortune 500 stocks that had the best - and worst - returns to investors last year:"
On the other hand, the worst-performing Fortune 500 stock returned negative 98 percent vs. the negative 45 percent returned by Citigroup, the Dow's poorest performer.
Here are the Fortune 500 stocks that had the best - and worst - returns to investors last year:"
RBS positive on rewards of ABN acquisition
RBS positive on rewards of ABN acquisition: "Royal Bank of Scotland (RBS) has confirmed that it will not be facing unexpected exposure to sub-prime related losses as a result of its joint acquisition of Dutch bank, ABN Amro, last year.
RBS chief executive, Sir Fred Goodwin, said: “We are happy we bought what we thought we bought”.
He has also indicated that, following the merger, significant cost savings are being achieved, such as a 20% reduction in ABN’s stationery bill and savings in shared computer software.
Originally RBS predicted annual cost savings of €1.32 billion and revenue benefits of €395 million, by the third year following the acquisition. The estimates have now been revised to €1.59 billion and €688 million respectively.
RBS and its partners, Banco Santander and Fortis, paid €71 billion for ABN and are awaiting approval from the Dutch authorities before they restructure the bank’s assets."
RBS chief executive, Sir Fred Goodwin, said: “We are happy we bought what we thought we bought”.
He has also indicated that, following the merger, significant cost savings are being achieved, such as a 20% reduction in ABN’s stationery bill and savings in shared computer software.
Originally RBS predicted annual cost savings of €1.32 billion and revenue benefits of €395 million, by the third year following the acquisition. The estimates have now been revised to €1.59 billion and €688 million respectively.
RBS and its partners, Banco Santander and Fortis, paid €71 billion for ABN and are awaiting approval from the Dutch authorities before they restructure the bank’s assets."
Merrill Lynch and Citigroup steeled for further writedowns
Merrill Lynch and Citigroup steeled for further writedowns: "Wall Street investment banks, Merrill Lynch and Citigroup, both expect to see their first-quarter profits decline as a result of losses on mortgage-related assets.
Citigroup expects to write down $12 billion in the first three months of 2008, which will be in addition to the $18 billion written down in the fourth-quarter of 2007.
Merrill Lynch is expected to write down $2 billion in the first-quarter, following on from the $16 billion already written-off by the bank since the start of the sub-prime mortgage crisis.
The predictions would bring the total loss to the global banking industry from sub-prime related assets to around $210 billion and both banks may need to raise further capital to boost their balance sheets."
Citigroup expects to write down $12 billion in the first three months of 2008, which will be in addition to the $18 billion written down in the fourth-quarter of 2007.
Merrill Lynch is expected to write down $2 billion in the first-quarter, following on from the $16 billion already written-off by the bank since the start of the sub-prime mortgage crisis.
The predictions would bring the total loss to the global banking industry from sub-prime related assets to around $210 billion and both banks may need to raise further capital to boost their balance sheets."
Bernanke faces scrutiny on Capitol Hill - Apr. 2, 2008
Bernanke faces scrutiny on Capitol Hill - Apr. 2, 2008: "WASHINGTON (AP) -- Faced with mounting home foreclosures and job losses, Federal Reserve Chairman Ben Bernanke is under immense political and public pressure to provide relief and help turn around a faltering economy.
Bernanke was to visit Capitol Hill on Wednesday to give members of Congress' Joint Economic Committee an update on the country's economic situation. The Fed chief was expected to assure lawmakers that the central bank was prepared to keep on lowering a key interest rate and take any other actions that may be necessary to keep problems from spreading even more."
Bernanke was to visit Capitol Hill on Wednesday to give members of Congress' Joint Economic Committee an update on the country's economic situation. The Fed chief was expected to assure lawmakers that the central bank was prepared to keep on lowering a key interest rate and take any other actions that may be necessary to keep problems from spreading even more."
End of Ospel era at UBS leaves open questions - swissinfo
End of Ospel era at UBS leaves open questions - swissinfo: "Switzerland's largest bank, UBS, is seeking SFr15 billion ($15.1 billion) in new capital after making a net loss of about SFr12 billion in the first quarter of 2008. It follows a writedown of SFr40 billion, and possible further losses.
UBS endured a tough 2007, starting with the collapse of its hedge fund Dillon Read Capital management. In October, the bank said it would cut 1,500 jobs in its investment banking arm, including that of its head Huw Jenkins."
UBS endured a tough 2007, starting with the collapse of its hedge fund Dillon Read Capital management. In October, the bank said it would cut 1,500 jobs in its investment banking arm, including that of its head Huw Jenkins."
End of Ospel era at UBS leaves open questions - swissinfo
End of Ospel era at UBS leaves open questions - swissinfo: "The press has welcomed the resignation of UBS chairman Marcel Ospel, saying the move was overdue. But doubts remain over the future of Switzerland's largest bank.
Editorialists warn that the bank, which was hard hit by the mortgage crisis in the United States, has some way to go to win back the trust of clients across the world."
Editorialists warn that the bank, which was hard hit by the mortgage crisis in the United States, has some way to go to win back the trust of clients across the world."
Tuesday, April 01, 2008
Fed up with the Fed - Mar. 31, 2008
Fed up with the Fed - Mar. 31, 2008: "Fed up with the Fed
Some wonder why Paulson wants to expand the powers of an agency that sat idly by as the housing bubble took shape.
By Colin Barr, senior writer"
Some wonder why Paulson wants to expand the powers of an agency that sat idly by as the housing bubble took shape.
By Colin Barr, senior writer"
Subscribe to:
Posts (Atom)