http://www.traderscommunity.com/ Traders Community where you will find one of the biggest and best collections of trading information. en-gb The information contained in this website is for general information purposes only. The information is provided by Traders Community and whilst we endeavor to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.Read full disclaimer: Website disclaimer info@nospam.com (Admin) info@nospam.com (Admin) Thu, 09 Sep 2010 22:00:51 -0700 Thu, 09 Sep 2010 22:00:51 -0700 http://backend.userland.com/rss e107 (http://e107.org) 60 http://www.traderscommunity.com/images/web_logo88a.gif http://www.traderscommunity.com/ 88 31 Traders Community where you will find one of the biggest and best collections of trading information. http://www.traderscommunity.com/news.php?item.34679.19
Kagiso Securities said the PMI rose to 52.5 in December, from 50.3 in November. The PMI broke above the key 50 mark that indicates expansion in November, for the first time in 18 months.

'After an initial lag, the South African manufacturing rebound is now very close to being on par with the global trend,' said Andre Coetzee, head of fixed income at Kagiso Securities.

South Africa's manufacturing sector expanded by 7.6 percent in the third quarter, helping to lift the economy out of its first recession in almost two decades, and the performance of the sector will greatly determine the pace of the broader recovery.

Monthly data from Stats S.A. have indicated the rate of decline in manufacturing output is slowing, in line with expansionary PMI readings.]]> melanie@nospam.com (traders) Mon, 18 Jan 2010 01:10:45 -0800 http://www.traderscommunity.com/news.php?item.34679.19 http://www.traderscommunity.com/news.php?item.34639.19
State-owned NCB, which is slated for privatisation, made a net profit of 4.04 billion riyals ($1.08 billion) in 2009, up from 2.03 billion riyals in 2008, it said in a statement.

'This (rise in 2009 net profit) confirms the bank's ability to efficiently manage its assets and diversify its sources of income in spite of global economic challenges,' it said.

The bank did not disclose a net profit for the fourth-quarter, which based on the annual and previous figures Reuters calculated to be about 770 million riyals, compared to a net loss of 2.55 billion riyals a year earlier.

That would be NCB's lowest quarterly net profit in 2009.

Most Saudi banks posted poorer fourth-quarter and annual earnings for 2009 due mainly to the global economic slowdown and provisions for loan losses after multi-billion dollar debt defaults last year by some family-owned firms which made banks more meticulous on lending.]]> melanie@nospam.com (traders) Sat, 16 Jan 2010 05:11:19 -0800 http://www.traderscommunity.com/news.php?item.34639.19 http://www.traderscommunity.com/news.php?item.34644.19
The growth in the private sector -- which hit a 14-year low of 2.5 percent in 2009 -- will be driven mainly by state spending and bank lending, Banque Saudi Fransi said in a report issued over the weekend.

Lending is expected to grow 8 percent this year, up from 2.1 percent in 2009, but still down from a 27 percent rise in 2008.

The report said the Saudi central bank is more likely to raise interest rates than lower them in 2010 in order to counter a possible surge in inflationary pressures.

The government has set spending at 540 billion riyals ($144 billion) in 2010, up 13.7 percent from projected state expenditures in 2009.]]> melanie@nospam.com (traders) Sat, 16 Jan 2010 03:44:18 -0800 http://www.traderscommunity.com/news.php?item.34644.19 http://www.traderscommunity.com/news.php?item.34582.19
At 0640 GMT, the rand was at 7.3850 to the dollar, up 0.2 percent from Wednesday's close at 7.40 in New York.

'I think it's going to remain relatively rangebound, I don't think there's too much in it,' a Johannesburg currency trader commented.

'There's nothing much locally to drive the currency at this stage. If gold and other commodities rally, and if dollar remains a little bit weaker maybe we can go and test 7.28 but at the moment I would look to play sort of a 7.35/45 range.'

The blue chip Top-40 March futures contract rose 0.62 percent ahead of the JSE securities' exchange's open at 0700 GMT.]]> melanie@nospam.com (traders) Wed, 13 Jan 2010 23:18:43 -0800 http://www.traderscommunity.com/news.php?item.34582.19 http://www.traderscommunity.com/news.php?item.34580.19
'Yes, it's correct,' Mustapha al-Shamali told reporters in parliament when asked to confirm his remarks in daily al-Seyassah.

The Gulf Arab state has approved to spend 12.12 billion dinars in the current 2009/10 budget. The country logged a surplus of 6.32 billion dinars in the first eight months of the fiscal year, which starts in April, due to higher oil revenues.

The OPEC member has forecast a deficit of 4.85 billion dinars in its 2009/10 budget, assuming its crude, the main revenue earner, would fetch $35 a barrel.

The average price of benchmark U.S. crude during April 1, 2009 and Jan. 14, 2010 was $69 a barrel.]]> melanie@nospam.com (traders) Wed, 13 Jan 2010 22:22:56 -0800 http://www.traderscommunity.com/news.php?item.34580.19 http://www.traderscommunity.com/news.php?item.34559.19
President Mahmoud Ahmadinejad, who still faces opposition protests seven months after his re-election in June, wants to save up to $100 billion annually from subsidies on gasoline, natural gas, electricity, water, food, health and education.

The Guardian Council's final approval of the plan came after Iranian media last week said Ahmadinejad and parliament had reached a compromise on control of the money the state is expected to save through the bill.

Removing subsidies could make Iran less vulnerable to any Western sanctions on, for example, gasoline imports over its disputed nuclear energy programme.

But critics of the plan say it would stoke inflation and could ignite social unrest, at a time of heightened tension in the Islamic state, seven months after the disputed June vote plunged the country of 70 million into turmoil.]]> melanie@nospam.com (traders) Wed, 13 Jan 2010 03:17:51 -0800 http://www.traderscommunity.com/news.php?item.34559.19 http://www.traderscommunity.com/news.php?item.34381.19
The JSE's blue chip Top-40 March futures contract was down 0.37 percent before the market open at 0700 GMT after rising for the first three sessions of the year.

The rand was trading at 7.3275 at 0637 GMT, not far off its previous close of 7.3240 in New York.

The rand hit a near 3-month high of 7.25 against the dollar early this week but failed to break through key levels to give it momentum to firm further. It is expected to remain in familiar ranges with trading picking up speed from next week.

'We see scant chances that the rand will break below key support levels in the coming two week period,' said Alvise Marino, emerging markets analyst at IDEAglobal in a note.

'The currency faces strong support barriers between 7.30/dollar and 7.20. In the event of a weaker-than-expected (U.S non-farm payrolls data) on Friday, we might see some rand strengthening, yet would refrain from betting on a major move unless the currency makes some headwind below 7.20,' he said.
]]> melanie@nospam.com (traders) Wed, 06 Jan 2010 23:19:24 -0800 http://www.traderscommunity.com/news.php?item.34381.19 http://www.traderscommunity.com/news.php?item.34343.19
The main share index rose 1.47 percent to 54,152.09, after closing up 1.03 percent on Monday. Last year it rose 97 percent, among the best emerging market performances.

It outperformed the MSCI index of emerging market shares.

Deputy Prime Minister Cemil Cicek said after a cabinet meeting on Monday that Turkey wanted an IMF accord and hoped ongoing talks on a deal would be completed soon.

'Cicek stated that getting the IMF's sign of approval and securing credibility rather than receiving IMF funding is the real reason behind their desire to seal a deal with the IMF,' said JP Morgan economist Yarkin Cebeci.

'It is encouraging to see the government getting more vocal on the need for an IMF deal. However, it would be premature to get overly excited until we see clear comments directly from Prime Minister (Tayyip) Erdogan,' he said.]]> melanie@nospam.com (traders) Tue, 05 Jan 2010 03:28:13 -0800 http://www.traderscommunity.com/news.php?item.34343.19 http://www.traderscommunity.com/news.php?item.34302.19
Montazeri said he hoped Iran's rulers would come to their senses and called on Iranian President Mahmoud Ahmadinejad to resign.

"Things can't go on for long like this," Montazeri was quoted as saying in an interview conducted by mobile phone from his home in Qom. It was unclear when the interview took place.

"I think the future structure of our society is not so important. It could be an Islamic Republic, a secular republic, or as far as I am concerned, even a monarchy. The main thing is that people can live in freedom and in prosperity," he said. Anti-government protests have flared repeatedly since a disputed presidential election last June, throwing Iran into its most serious internal crisis in the Islamic Republic's 30-year history.

In the last week, there have been bloody confrontations, arrests and hardline demands for the strong suppression of opponents of the government.
]]> melanie@nospam.com (traders) Sat, 02 Jan 2010 02:40:43 -0800 http://www.traderscommunity.com/news.php?item.34302.19