China-ASEAN FTA – CCTV

China-ASEAN Free Trade Agreement came into effect at the start of the new year.  CCTV9 reports:

Happy New Year Asia & Oceania

Asia and Oceania ushered in 2010 a few hours ago.  Here’s a window into the celebrations which took place across the region.

CSA will start with none other than China, The country which unarguably had the most people around the world wishing one another a happy new year at the same time… Not because they have 1.4 billion people, but rather because the entire country is in one time zone, that of Beijing.  Happy New Year China!  I’ll be seeing you soon (CSA will be updated from China as of 2010).

China

Top Chinese leaders including President Hu Jintao on Wednesday watched Peking Opera at the National Center for the Performing Arts in a gala to mark the New Year. (Xinhua Photo)

Soldiers in NE China celebrate new year with local ethnic people. (Xinhua Photo)

Vocalist Kang Mao of Chinese rock band "SUBS" performs at a rock gala to celebrate the New Year in Beijing December 31, 2009. Picture taken December 31, 2009. (REUTERS)

Taiwan – China

A person holding an umbrella watches fireworks exploding from the world's tallest completed skyscraper Taipei 101 during New Year celebrations in Taipei January 1, 2010. (REUTERS)

Australia

Sydney, Australia - Celebrates New Years 2010 (Photo via Newsfromrussia)

Singapore

Fireworks light up the skyline of the financial district to usher in the New Year on Jan. 1, 2010 in Singapore. (THE ASSOCIATED PRESS)

Japan

People release balloons as the Tokyo Tower is illuminated to celebrate New Year at a countdown event at the Zojo-ji Buddhist temple in Tokyo January 1, 2010. (REUTERS)

South Korea

Christians sing a hymn during a prayer to celebrate the New Year at Imjingak pavilion near the demilitarized zone separating the two Koreas in Paju, about 52 km (32 miles) north of Seoul, January 1, 2010. (REUTERS)

Indonesia

Fireworks explode above downtown Jakarta's Welcome Monument, Indonesia, early Friday, Jan. 1, 2010. (THE ASSOCIATED PRESS)

Asia in Focus

APEC nations call for free trade

Nov 14 (REUTERS) – APEC leaders tackle climate change negotiations and economic integration, as Japanese Prime Minister Yukio Hatoyama stresses the need for free trade zone.
Penny Tweedie, Reuters

Obama seeks stronger links in Asia

Nov 14 (REUTERS) – United States President Barack Obama pushes for greater U.S. involvement in Asia, welcoming a “strong, prosperous” China.
Penny Tweedie, Reuters.

China to lead Somalia piracy fight

Nov 13 (REUTERS) – China will assume a leadership role in an international coalition fighting maritime piracy off Somalia, signaling its navy’s growing ambitions beyond Chinese waters.
Stefanie McIntyre reports.

Singapore-Latin Trade: Singapore and Panama in focus

Attention! / ¡Atención! / ???

Merlion - Singapore

For those of you out there who pay the whoppin’ $399 a year for a subscription to the Latin Business Chronicle, you can feast your eyes on some juicy reporting about Singapore’s growing trade with Latin America, particularly with Panama.

Here’s a brief synopsis from CSA of what was available for free from the Latin Business Chronicle:

Singapore’s trade with  Panama is a $6.6 billion usd, more than double Singapore’s entire trade with its second largest trading partner in Latin America, Brazil.

Considering that Singapore has signed Free Trade Agreements with the South American countries of Peru and Chile which have yet to help increase total exchange to a level even comparable with Panama’s.  It is clear to CSA, Singapore has found a healthy partner in Panama and it plans to nourish the relationship.

Panama is country of similar size (population wise), like Singapore it is strategically positioned in the middle a important global trade network, and it is increasingly open to economic cooperation with Asia.

Long term, CSA believes that Singapore is playing it smart in Latin America.  It is positioning itself to not only benefit directly from trade, but also from the growth of trade between other Asian and Latin American countries.

In other words, once Singapore has established a base of operations in Panama, it will probably expand into the business of providing services for other countries and companies within the Asia – Latin America trade network.

Below are a few excerpts from the Latin Business Chronicle article you can access directly via this link.

Soon, Singapore will also be known locally for its port services. PSA International, the world’s second-largest container terminal operator, will be competing with Hong Kong-based Hutchison Whampoa, the world’s largest operator for container traffic that goes through Panama.

PSA is building a terminal at the Pacific entrance of the Panama Canal, right across from the Port of Balboa, which is operated by Hutchison unit Panama Ports Company. It expects to open the terminal, located at what once was a US Naval station, next year.

The current and future business generated by ST Aerospace and PSA is helping cement Panama as Singapore’s top trading partner in Latin America. Singapore’s trade with Panama is twice as large as its second-largest trade partner in Latin America, Brazil.

Last year, Singapore’s total trade with Panama grew by 59.6 percent to 9.2 billion Singapore dollars (US$6.6 billion), according to a Latin Business Chronicle analysis of IE Singapore data. While Singapore exports still dominate the …

Asian Stock Markets; weekly roundup

Commodity Boom Will Thrive on Shortages, Rogers Says

Newswire: Jim Rogers

“I don’t see any adequate-supply situation in any commodity market over the next decade or two,” Rogers, the chairman of Singapore-based Rogers Holdings, said today in an interview in New York. “The commodities boom is not over and the bull market has several years to go.”

“I own some cotton,” Rogers said. “I own some sugar,” he said. “Sugar will go much, much higher over the course of the bull market.”

“Oil could reach between $150 and $200 a barrel,” because known reserves of crude are declining, Rogers said. He said international relations, particularly between the U.S. and Iran, will help guide prices.

“Natural gas is very cheap,” he said in the interview between sessions at an ETF Securities Ltd. investor conference.

Commodities ‘Best Place’

“Commodities are the best place to be, if you ask me, based on supply and demand,” Rogers said. He said he hasn’t invested in equities outside of China in two years.

“Everything has gone through the roof,” Rogers said of equities prices, adding that he may consider buying stocks “if something collapses.”

Click here to read the complete Bloomberg article

Newswire: Commodities

China Nurtures Futures Markets in Bid to Sway Commodity Prices - WSJ

ZHENGZHOU, China — Chinese leaders are concerned that their nation’s enormous economic expansion is becoming an excuse for foreign suppliers to inflate commodity costs. So, they hope to use their three futures exchanges to fight back.

“It is true we have a long-term goal of increasing our influence in terms of pricing, but to do that we have to create conditions and do it step by step,” Jiang Yang, chief futures-industry policy maker and assistant chairman of the China Securities Regulatory Commission, said in an interview. “But as the Westerners say: ‘Rome was not built in a day.’

But Beijing believes hosting big futures markets will enhance the country’s economic security by essentially advertising what the world’s biggest customer for some commodities considers a fair price. For the rest of the world, the exchanges could mean less guesswork about China’s buying habits, possibly reducing volatility in the global market.

Silver Lining: Jim Rogers Talks Up Commodities – Time Magazine

Jim Rogers’ daughters may not have been born with silver spoons in their mouths, but they’ve got them now. Not silver spoons, exactly, but silver bullion. “My little girls don’t own stocks — they own commodities,” he says, “and that’s why they’ll be able to take care of me in retirement.”

Rogers sees three big secular trends now, and he’s acting on all of them. First, America’s role as the dominant economic power is declining, so why own American stocks? (He doesn’t.) Second, China is emerging, and even though it may have crises from time to time, it is a good place to invest. (He does.) Third — and this is the biggie — emerging nations including China are greatly increasing the future demand for commodities such as oil. (He’s in with both feet.)

“Thirty years ago, 3 billion people were not even participating in the world economy, and now they are trying to live like we do,” he notes. That emerging megaforce, says Rogers, will put a supertight squeeze on commodity prices across the board, from beef to bullion.

Oil Climbs Above $73, Nat. Gas Rallies as Equities Fly High – Rigzone

Jumping toward $74 a barrel on an American holiday, crude oil rallied more than $1 from last week’s closing price, bolstered by a weaker dollar and a rise in the equities market. Also gaining today, natural gas closed 12 cents below $5 as the energy commodity continues to strengthen despite bearish fundamentals.

After rallying to an intra-day high of $73.84, the price of crude oil settled slightly lower to $73.27 on the NYMEX Monday, a gain of $1.50 from Friday’s close. Additionally, the US dollar eased against a basket of foreign currencies, helping to spur a rally in today’s commodity prices.

China Iron Ore Imports Exceed Real Demand, CISA Says – Bloomberg via Chinamining.org

Iron ore imports by China, the world’s largest buyer, have exceeded real demand by 50 million metric tons this year, the country’s steel association said.

China’s iron ore imports surged to a record this year, hurting the group’s bid to negotiate a contract price cut bigger than the 33 percent offered by Rio Tinto Group and BHP Billiton Ltd. The nation is looking at cutting the number of licensed importers, industry minister Li Yizhong reiterated today.

Newswire: South-South / Emerging Market Cooperation

[China - ASEAN] - China to Boost Cooperation With Asean on Investments – Bloomberg

China wants to boost cooperation with members of the Association of Southeast Asian Nations to develop trade and increase investment, said Chinese Commerce Minister Chen Deming.

[ASEAN] - Five Asean Nations May Form Rice-Trade Body, Thai Official Says - Bloomberg

Five Southeast Asian nations may set up a rice-trade association next year to cooperate in stabilizing rice prices, a Thai official said.

Thailand, Vietnam, Cambodia, Laos and Myanmar will also cooperate on other issues related to food security and production, said Chiya Yimvilai, a spokesman at a meeting of Asean economic ministers in Bangkok. The countries would also work together on developing rice products, he said.

[Venezuela - Russia] – PDVSA, Russian Group to Start $30 Billion Oil Venture – Bloomberg

Petroleos de Venezuela SA and a group of Russian oil companies plan to spend $30 billion on a joint venture in Venezuela’s Orinoco region.

The 40-year venture will seek to produce crude in the Junin 6 area and may expand to other Orinoco blocks, Russian Deputy Prime Minister Igor Sechin told reporters in St. Petersburg today after meeting with Venezuelan Vice President Ramon Carrizalez. Russian investors will include OAO Gazprom, OAO Rosneft, OAO Lukoil, TNK-BP and OAO Surgutneftegaz. The venture will be signed “in the coming months,” Sechin said.

[Mexico - Uruguay] – Mexico/Uruguay sign strategic association accord and advance trade – MecroPress

Mexico president Felipe Calderón and Uruguay’s Tabare Vazquez signed on Friday in Montevideo a Strategic Association accord to strengthen political dialogue and bilateral trade relations in the framework of the 2004 free trade agreement.

[Mexico - Colombia - Venezuela - Ecuador] - Mexico offers to mediate between Colombia and Venezuela and Ecuador – MecroPress
Mexican president Felipe Calderón on an official visit to Colombia offered his country’s mediation in the conflict between Bogotá and neighbouring Ecuador and Venezuela.

[Peru - Brazil] - Brazilian President to visit Peru to strengthen strategic alliance – Andina
The next arrival to Lima of Brazilian President Luiz Inacio Lula da Silva will contribute to create a new strategic alliance to face Asian markets when signing several trade agreements, the President of Peru-Brazil Integration Chamber Miguel Vega Alvear.

“The arrival of Brazilian President will strengthen the progress achieved up to now in this Peru-Brazil strategic alliance and it will create a new stage in which both countries can face Asia-Pacific markets,”

a2a_linkname=”Newswire – South South Emerging Market Cooperation”;a2a_linkurl=”http://chinasouthamerica.blogspot.com/2009/08/newswire-south-south-emerging-market.html”;

Jim Rogers: Profit from commodities, currencies and bonds in times of crisis

[youtube=http://www.youtube.com/watch?v=K-EL-AhkFME&hl=en&fs=1&color1=0x2b405b&color2=0x6b8ab6&border=1]

Can’t seem to find part 2. Rogers covers his general view of where markets currently are and where he’s putting his money right now.

Nononprofits Sometimes on Cutting Edge of Technology

[Microfinance] – PC World Article

One example is the way that microfinance agencies build databases and other back-end systems to manage their work. Some microfinance institutions are running on manual systems or spreadsheets, said Peter Bladin, founding director of the Grameen Foundation’s technology center. “Given how transaction intensive this is, it’s amazing they don’t have more sophisticated technology,” he said.

Microfinance organizations sometimes try to buy a system that has been developed for a similar business but find it doesn’t quite fit. Or they may try employing software developed for banks but also find they don’t work quite right. Customization of such software is too expensive and unrealistic for most microfinance institutions, Bladin said.

So Grameen helped drive the effort to create Mifos, an open-source management information system designed for microfinance. “The beauty is anybody with technical skills can have access to the source code and enhance it,” he said. “We have people writing code around the world and feeding it back.”

NetHope is also developing programs to support members. For instance, it is setting up an IT help desk that Accenture is helping with that will offer 24-hour technical support to employees of member companies.

Click here to read the full article from PC World