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IMPORTANT UPDATE: COFFEE
Torrential rains have continued to fall in Central America and anotherstorm is expected to pass over the region bringing additional unwantedrains. The deadly storms unleashed onto the countries has broughtconsiderable to roads and infrastructure as well as the tragic loss oflife. Last week coffee producers were more optimstic about thesituation indicatin that while the situation was "terrible" themajority of the coffee crops may have been spared. Over the weekendand today the reports of damage to the ripening cherries has escalatedand one coffee official admitted that his association made a mistakein calculating the damage and it was worse than feared. Cherries havefallen to the ground, but there are other considerations. Thecherries can only absorb so much water and th...xem thêm... -
In preparing for FTAs, Vietnam needs to install non-tariff barriers
Pham Chi Lan, a well known economist in Vietnam, has urged relevant ministries to consider installing non-tariff barriers to control the imports, which she believes a very important thing that needs to be done in preparing for the implementation of free trade agreements (FTAs). From now to 2015, under the commitments Vietnam has made in six bilateral and multilateral FTAs, Vietnam will have to gradually cut down the tariffs of thousands of goods items to 0-5 percent, mostly to 0 percent, and open the domestic market widely for imports. Lan said that the low import tariffs will pave the way for foreign made products to flow to Vietnam which later may dominate the domestic market. This should be seen as big worry for the national economy, where the technical barriers remain imp...xem thêm... -
Vinacafe Bien Hoa Profit May Beat Forecast by 44pct, Dung Says
Vinacafe Bien Hoa Joint-Stock Co., a unit of Vietnam's second-biggest coffee exporter, said full- year net income may exceed its forecast by 44 percent as raw- material costs were less than anticipated. Profit for the year ending December 31 may rise to 200 billion dong ($9.6 million), compared with the previous forecast of 139 billion dong, said deputy general director Le Hung Dung. Net income at the maker of roasted and instant coffee may have reached 140 billion dong in the first eight months, Dung said in an interview yesterday. Vinacafe Bien Hoa, the target of a takeover offer from Masan Group Corp. (MSN), said last month the purchase of raw materials "at a good price" had boosted year-to-date profit. Lower global prices will help the company cut the cost of importing ...xem thêm... -
Vietnam to stockpile 400,000 T coffee
HANOI, Sept 16 (Reuters) - Vietnams 16 largest coffee exporters will buy 432,000 tonnes, or 7.2 million 60-kg bags, of the bean for stockpiles to prevent prices from falling, a state-run newspaper said on Friday....xem thêm... -
Vietnam Coffee-New beans on offer but demand thin
Vietnamese robusta coffee is usually quoted at a discount to London robusta futures as buyers want to hedge the risks of delivery time and quality problems....xem thêm... -
Gadhafi appears on verge of collapse as fighters reach Tripoli
Tripoli, Libya (CNN) -- The 42-year rule of Moammar Gadhafi appeared on the verge of collapse early Monday, with rebel supporters packing the same Tripoli square where regime loyalists had congregated for months.<br /><br />...xem thêm... -
Ministry offers six solutions to curb inflation, stabilise macro economy
In a bid to tame the consumer price index (CPI) at about 17 percent as targeted by the government, the Ministry of Finance (MoF) has recently offered six solutions to realise the goal of curbing inflation and stabilising the macro economy. Accordingly, first, the ministry will focus on solving the key problems of price such as the quality of growth, competitiveness of the economy and efficient use of capital. Second, it is necessary to fully carry out measures to control the aggregate demand in the economy in accordance with the government's Resolution No 11/NQ-CP. Third, the country needs to ensure the supply-demand balance of goods and services in all circumstances, of which, first of all is essential goods for production and life. In addition, rearrangement and reorganisa...xem thêm... -
Four EU nations ban short-selling on banking stocks
French banking shares have been most affected by the recent market turbulence France, Italy, Spain and Belgium have banned short-selling of the shares of banks and other financial companies. It follows sharp gains and losses in bank stocks in recent days, especially in France, on the level of their exposure to eurozone government debt. Societe Generale has been the worst affected by the volatility, being forced on Wednesday to deny that its financial stability was at risk. Short-selling is when traders profit from bets on the fall in a share price. It has been blamed for increasing recent market instability. Short-sellers usually borrow shares or bonds, sell them, then buy them back when the stock falls - pocketing the difference. "Naked" short-selling is when a trader sells fi...xem thêm... -
Fed to Keep Rates at Record Lows at Least Through Mid-2013
The U.S. Federal Reserve building stands in Washington, D.C. on Aug. 8, 2011. Photographer: Andrew Harrer/Bloomberg The Federal Reserve pledged for the first time to keep its benchmark interest rate at a record low at least through mid-2013 to revive a recovery that’s “considerably slower” than anticipated. The Federal Open Market Committee is “prepared to employ” additional tools to bolster an economy hobbled by weak hiring and anemic household spending, it said in a statement today in Washington. Three members of the committee dissented, preferring to maintain a previous pledge to keep rates low for an “extended period” without a specific timeframe. Stocks rallied and yields on 10-year Treasury notes briefly touched a record low. The decision represents the biggest effo...xem thêm... -
Coffee and crude futures 'acting like sisters'
The two have colour in common. Both have a dark brown hue. But that's about all. One is a liquid mineral that keeps us on the move. The other is a crop, a bean that keeps us awake. So why should futures in crude oil and coffee have started moving as a pair? The duo have been named as the latest odd couple in commodities, following copper and wheat, and gold and farmland. 'Like sisters' The convergence between crude and copper, both of which were showing small gains in early deals on Friday, has been noted on both sides of the Atlantic. "A savvy old school trader points to coffee and crude prices acting like sisters," Jurgens Bauer at US-based PitGuru said. In London, broker Marex said the correlation between the two assets was "particularly tight". "Crude topped on May 2 a...xem thêm...
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