Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (18241)	5/4/1998 5:49:00 AM
From: IQBAL LATIF	Respond to of 50167

From Samira: To IL (Off topic) - Thank you for your kind words. Most of today's headlines revolve around the establishment of euro and related articles. There isn't any news on the local stock market but I'll try to see if I can get some info on lucrative stocks trading on the KSE and post them accordingly. In the meantime, today's top stories are: IMF to restart Jakarta loan despite objections from US lawmakers - Politics weighs heavy on rupiah. IMF board likely to approve a $1 bn loan payment to Indonesia on Monday, and plans to disburse a further $2 bn in June and July under a $40 bn international rescue package. DUBAI: Iran to remain petrol importer - The world's third largest importer will import some $170 million of scarce hard currency on imports to keep motorists happy. The Islamic Republic was expected to import 4 million litres a day of petrol in the current Iranian year which started on 21 March. Massive state price subsidies on a whole range of petroleum products make pump prices one of the cheapest in the world and already cost Iran some $11 billion a year or twice the country's development budget. UXBRIDGE, ENGLAND: Anadarko turns on oil taps in Algeria: US oil independent Anadarko is to start production within days from a major development deep in Algerian's Sahara Desert. Hassi Berkine South oilfield will produce at 5,000 bpd and aims to reach 60,000 bpd within two months. First exports from the field will have to wait until July when Algeria's state oil firm Sonatrach is due to finish a 30 inch pipeline conecting the Hassi Berkine complex with Algeria's export system. SHENYANG, CHINA: Officials grapple with how to put unemployed to work; China overtakes Japan in exports to Dubai - Shenyang's labour ministry says there are enough jobs to go around but workers are too picky. China's exports to the emirate peaked at 4.1 billion dirhams ($1.11 billion) in the first 8 months of 1997 while Japan's stood at 3.8 bn dirhams. Britain leapfrogged to third place from fifth in 1996 with exports of around 3.5 bn dirhams while the US which had long been second to Japan retreated to fourth place with exports of 3.4 bn dirhams. BRUSSELS: Controversial deal over bank chief sours Euro single currency launch - Duisenberg says it's his decision to step down - UK PM stands by `strong' Euro - Japanese PM lauds Europe move for Euro. EU sets exchange rates for single currency - Europe's single currency does not come into force until 1 January but for the 11 participating countries monetary union effectively began this weekend. At a summit which finalised the list of countries that will adopt the euro, European Union finance ministers also fixed the bilateral exchange rates at which their currencies will enter monetary union. As expected, they opted to adopt the currencies' central rates with the European exchange rate mechanism (ERM), the currency grid that has been used to promote the stable exchange rates in preparation for the euro. The decision means that, for example, Germans know already that the mark will be converted into euros at a rate of 3.36 French francs, 1.13 Dutch guilders and 990 Italian lira. When financial markets reopen on Monday, dealers will still be free to trade in the currencies destined to become part of the euro. But they will no longer have any incentive to conclude deals outside a very narrow range around the levels fixed this weekend. The final rate at which the mark or any other participating currency will be converted to euros will not be known until the new currency established on January 1. This is because the euro is to be established with the same value as the European Currency Unit (ECU) - a basket of the currencies of 12 EU states. The British Pound, Greek drachma and Danish kroner are all in the ECU but will not be in the euro. As a result their movements on the money markets will have an impact on the level that the ECU reaches by the close of trading on December 31. CHICAGO: Europeans, Japanese eye potential US high-speed rail market - Tokyo, Washington to agree on duty-free cyberspace. The promise of a lucrative US high-speed rail market has lured top European and Japanese makers to a conference here this week that highlights the urgent need to upgrade America's lagging rail network. Japan and the US will issue a joint declaration backing tariff-free trade through the Internet when the two nations' leaders meet in Britain this month. Meanwhile, the ruling Liberal Democratic Party's policy chief, Taku Yamasaki, said on Sunday there was no mention of permanent income tax cuts made during his meetings with US officials in Washington last week. Many economists and some foreign governments have suggested Tokyo make the planned four trillion yen ($30.3 bn) in income tax cuts, spread over this year and next, permanent. PM Hashimoto said on Friday he would consider a fundamental tax reform after the July Upper House parliamentary elections. Greenspan praised the land boosting steps taken by Japan saying that the measures, if implemented, would help Japan's economic recovery. (Japan pledged to spend 2.5 trillion yen to promote liquidity in its land market as a way to ease its financial institutions' bad loan problems). Many of Japan's problem loans are collateralized by assets such as land, which has come down sharply in value since the burst of its 1980s asset-inflated bubble economy.

To: IQBAL LATIF who wrote (18241)	5/4/1998 12:52:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

If ASEAN turnaround is true-- the most competitive economy in ASEA is- Singapore-- Global competitive report ranks number 1 in the world Hong Kong-- ranks 2nd in the world US-- is third followed by New Zealand Malayasia Japan Korea within top twenties. Global competitive report is edited by PROFESSOR JEFFREY SACHS of the Harvard lnstitute for International Development. US stock market is a good example of going long based on competitiveness of a nation. Singapore and HSI is the direction for growth and making similar returns like we have seen in DOW.