financializer news A weblog highlighting financial topics making news in the international media.

business world: But what about those cranky members of a profession long known as the dismal science Like much of America, professional economists are split, according to Market Watch. Many economists who work in academia are anxious about Trump's ardently pro-business agenda, according to one highly respected economist. WASHINGTON Market Watch Consumers, investors and businesses have already shown enthusiastic approval for most of Donald Trump's plans for the economy. Justin Wolfers, a professor at Michigan and prolific commentator, said in a New York Times article that a sense of anxiety and foreboding was the mood. Yet discussions by Market Watch with economists in the business world who work for large banks and other Wall Street institutions reflect far less alarm. He asserted that conservative academic economists felt the same way. (news.financializer.com). As reported in the news.

concern year: Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased, according to Global Times China. And yet, as political leaders, CEOs and top bankers make their annual trek up the Swiss Alps to the World Economic Forum WEF in Davos the mood is anything but celebratory. Photo CFP The global economy is in better shape than it's been in years. Beneath the veneer of optimism over the economic outlook lurks acute anxiety about an increasingly toxic political climate and a deep sense of uncertainty surrounding the US presidency of Donald Trump, who will be inaugurated on the final day of the forum. His victory, less than half a year after Britain voted to leave the European Union, was a slap to the principles that elites in Davos have long held dear, from globalization and free trade to multilateralism. Last year, the consensus here was that Trump had no chance of being elected. (news.financializer.com). As reported in the news.

spot checks: Investors will be cautious ahead of the upcoming Chinese Spring Festival, which will start from January 27, said the report, according to Global Times China. China's top regulators have made commitments to strengthen supervision over domestic capital markets, which will also dampened investor enthusiasm for stocks over the short term, the report noted. State-owned enterprise reform related stocks are expected to continue to support the stock market, according to a report by the financial news portal cnstock on Friday. For instance, China's central bank recently conducted spot checks on leading Bitcoin exchanges in Beijing and Shanghai, Reuters reported on Wednesday. Experts advised investors to maintain a wait-and-see stance. In the short term, negative sentiment and the shortage of funds will be the main factors weighing on stocks, said the cnstock report. (news.financializer.com). As reported in the news.

sudan abdel-ghani: According to him, due to the US long-term economic sanctions, Sudan has had difficulties in cash transfers and direct equipment and investment movements in the past two decades, according to Global Times China. The US decision came at an important phase coinciding with the economic reforms of Sudan Abdel-Ghani said. Lifting the US sanctions on Sudan was one of the great hopes upon which foreign and national investors build, Sudanese Investment Minister Mudathir Abdel-Ghani said here on Saturday. This move enables investors to carry out their banking transactions freely and facilitate the movement of capital to Sudan. We were unable to import spare parts for the industrial sector, Sudanese Industry Minister Abdou Daoud said, We used to get spare parts through mediators. In Sudan, industry was one of the most affected sectors by US sanctions, as the sector has been prevented from importing strategic commodities, equipment and spare parts. (news.financializer.com). As reported in the news.

france putin: Socialist Ex-Economy Minister Arnaud Montebourg was declared the tentative winner. 13.01.2017 Is Francois Fillon of France Putin's preferred presidential candidate Conservative French politician Francois Fillon is rumored to have close ties to Russian President Vladimir Putin, according to Deutsche Welle. DW talked to experts to find out if that might be true. 29.11.2016 The state should only be a shareholder in strategic companies, Fillon said in an interview with the French magazine Capital. He is also likely to become a difficult partner for the German government, writes DW's Barbara Wesel. 28.11.2016 Fragile French left holds fractious debate ahead of primary voteA terse two-and-a-half hour debate between France's seven left-wing candidates exposed deep divisions ahead of presidential primaries. The 62-year-old - who won the nomination of the center-right Republicans in November's primary in a last-minute upset - is leading most polls to win the first round of presidential voting. A mixed blessing Fillon plans to cut unemployment - stuck at around 10 percent, but falling in recent months - and reduce public debt, at almost 100 percent of GDP. He wants to raise the retirement age, cut taxes and red tape for companies and abolish the 35-hour working week. Fillon's qualities are seen by his supporters as a combination of Gaullist for those yearning for the nationalist qualities of Charles de Gaulle Catholic for those seeking a return to Catholic roots as national identity is seen as coming under siege and, at the same time Thatcherite, an appeal that has little connection with either. (news.financializer.com). As reported in the news.

hollande: During this one-day summit, the French and African heads of state and government will focus on Africa's position in reinforcing peace and security, as well as climate and economic development, according to Global Times China. Speaking at the opening ceremony, French President Francois Hollande said as long as we are united, as long as we are of solidarity, as long as we are together to eradicate the threats to peace, we can succeed. The 27th Africa-France Summit was held under the theme of Partnership, Peace and Emergence with participation of 35 heads of state and government, including French President Francois Hollande. Hollande promised that France, a victim of terrorism, will train 25,000 African soldiers per year for the coming three years to help the continent tackle security issues. Hollande promised efforts to help with Africa's economic development. France will always be by the side of Mali, till the Malian authorities will be respected across the whole territory of Mali, Hollande affirmed. (news.financializer.com). As reported in the news.

information data: After all, it has been shown that a credit card can be hacked online in six seconds, according to Market Watch. Navigating it all can feel daunting to individuals aiming to safeguard their online selves from privacy violations as well as crime, especially when it comes to using public Wi-Fi and managing financial transactions. Cybersecurity the behaviors and actions meant to protect users in the online world from theft, fraud and other crime aimed at stealing information and data is a serious personal issue, too. Read 6 ways to speed up your Wi-Fi at home What's more, companies are forced to stay several steps ahead of violators, but their vulnerabilities can become end-user vulnerabilities. The vulnerability calls into question the privacy of messages sent across the service, which is used around the world, including by people living in oppressive regimes, the article noted. The Guardian this week reported that Tobias Boelter, a cryptography and security researcher at the University of California, Berkeley, detected a security vulnerability that allows Facebook FB, 1.36% and others to intercept and read encrypted messages within its Whats App messaging service. (news.financializer.com). As reported in the news.

land use: Two gigawatts is almost the capacity of two modern nuclear reactors, although atomic power works both day and night, according to The Japan Times. We have received requests from businesses that are interested in renting land for building solar power stations, Semerak said in a phone interview from Kiev. Thirteen international investors are among the 39 groups seeking Ukrainian permission to install about 2 gigawatts of solar panels inside the radioactive exclusion zone surrounding the defunct Chernobyl nuclear plant, according to Minister of Ecology and Natural Resources Ostap Semerak. We are not looking to profit from land use; we are looking to profit from investment. Radiation that will linger in the soil for centuries means the area can't be used for agriculture or forestry. Three decades after the Chernobyl meltdown displaced over 300,000 people by scattering radiation across large swaths of Ukraine, Belarus and Russia, authorities are still trying to figure out what to do with the piece of land twice the size of Los Angeles that surrounds the plant. (news.financializer.com). As reported in the news.

mass destruction: A bill to amend the law will be submitted to the ordinary session of the Diet, scheduled to start next Friday, the sources said, according to The Japan Times. Japan will follow the United States and European countries, which are strengthening measures to prevent leaks of their state-of-the-art technologies abroad that could jeopardize their national security. The government is mulling a revision of the foreign exchange and trade law to introduce the heavy penalties, the sources said. Under the law, Japan currently imposes up to 10 million 87,000 in fines on individuals and companies exporting without permission goods and technologies that can be used for military purposes, such as making weapons of mass destruction. The bill also stipulates that the provision of technological information to foreigners staying in Japan for six months or longer be subject to government approval. Through the amendment, the upper limit on the fines on individuals would be raised to 30 million, while a new system to slap up to 1 billion in fines on corporate violators would be set up, the sources said. (news.financializer.com). As reported in the news.

positiv bewertet: Moody's Keine Gesetzesverst e begangen Das Ministerium hatte der Agentur vorgeworfen, hochriskante Wertpapiere, die zum Teil mit faulen Immobilienkrediten besichert waren, viel zu positiv bewertet zu haben, according to Deutsche Welle. Damit seien Kunden zum Kauf der Papiere verleitet worden, deren hohes Risiko ihnen nicht bewusst gewesen sei. Die Einigung umfasse zudem erhebliche Ma nahmen, um die Integrit t, Unabh ngigkeit und Qualit t der Kreditbewertungen zu st rken. Nach dem Einbruch des US-H usermarktes Ende 2007 hatten viele solcher Papiere massiv an Wert eingeb t, was zu heftigen Turbulenzen an den Finanzm rkten f hrte und als ein Grund f r die tiefe Rezession der Folgejahre gilt. Das Justizministerium zeigte sich zufrieden mit dem Vergleich. Trotzdem betont Moody's, keine Gesetzesverst e begangen zu haben und hinter seinen Ratings zu stehen. (news.financializer.com). As reported in the news.

subprime mortgages: Some 437.5 million will go to the Justice Department and 426.3 million to be divided among the states and the District of Columbia, according to Deutsche Welle. In March, Moody's agreed to pay 130 million to settle claims by the California Public Employees' Retirement System over allegedly inflated ratings on residential-mortgage bond deals. Twenty-one US states and the Justice Department accused Moody's Investors Services, Moody's Analytics and parent company Moody's Corporation of overvaluing the ratings of securities backed by subprime mortgages and at-risk loans. In the settlement, the world's second-largest credit ratings agency acknowledged that it hadn't followed its own standards, stating that it had used a more lenient standard for certain financial products and had not made public the differences from its published standards. The long con The credit rating agencies - whose role is to rate debt securities on the basis of a debtor's ability to pay back lenders - played a key role both in fuelling and then not reining in the US subprime mortgage crisis of 2007-2008, which precipitated the global downturn and long subsequent period of austerity. Moody's failed to adhere to its own credit rating standards and fell short on its pledge of transparency in the run-up to the Great Recession, Principal Deputy Associate Attorney General Bill Baer said in a statement. (news.financializer.com). As reported in the news.

trump: Trump told the newspaper he is prepared to meet with Russian President Vladimir Putin some time after he is sworn in on Jan. 20, according to The Japan Times. I understand that they would like to meet, and that's absolutely fine with me, he said. In excerpts from an hourlong interview published by the Journal on Friday, Trump said If you get along and if Russia is really helping us, why would anybody have sanctions if somebody's doing some really great things Trump suggested he might do away with the sanctions imposed by the Obama administration in late December in response to Moscow's alleged cyberattacks if Moscow proves helpful in battling terrorists and reaching other goals important to Washington, the Journal reported. Asked if he supported the one China policy on Taiwan that has underpinned U.S. relations with Beijing for decades, Trump told the Journal Everything is under negotiation including One China. The United States has long acknowledged the Chinese position that there is only one China and that Taiwan is part of China. Trump angered the Chinese by taking a congratulatory phone call after his election win from Taiwan's leader and questioning the sensitive policy. (news.financializer.com). As reported in the news.

business: Rwanda welcomes investments both foreign and local, according to Global Times China. As a fast growing economy and with the number of incentives that our country offers to any investors, the Ghanaian delegation will find plenty of opportunities to explore, he added. Karim Tushabe, a legal consultant and head of Doing Business at the Rwanda Development Board RDB told reporters on Friday that the delegation will be interested in learning about untapped business opportunities in the country. According to RDB, the Ghana business team is expected in Rwanda from 24th to 28th. The Ghanaian investors are more interested in construction. The team is scheduled to meet with Rwanda Development Board officials for a briefing on business opportunities in the country and Rwanda Revenue Authority on effective tax collection. (news.financializer.com). As reported in the news.

korea: Ban, 72, was referring to the money disbursed by Tokyo last year to a South Korean fund set up to help the surviving women and their families, according to The Japan Times. It was part of a historic 2015 agreement with South Korea to heal the wounds caused Japan's sexual slavery before and during the war and permanently resolve the issue. If the 1 billion is related to the removal of the girls' statues . . . the money should be sent back, Ban told the Joong Ang Ilbo newspaper aboard an airplane on his way home to South Korea on Thursday. The women who were rounded up are euphemistically referred to by Japan as the ianfu comfort women . Under the pact, South Korea said it will strive to solve the issue of the well-known comfort women statue that was installed near the Japanese Embassy in Seoul in an appropriate manner. Ban, widely considered to be eyeing a run for the South Korean presidency, said it would be nonsensical if the country removed the statues in exchange for the financial contribution from Japan. The row was set off when another was installed in December in front of the Japanese Consulate in Busan. (news.financializer.com). As reported in the news.

mittwoch mitteilte: Noch vor einer Woche, am 5, according to Deutsche Welle. Januar, hatte die Digitalw hrung mit einem Wert von 1161 US-Dollar an einem neuen Rekordhoch gekratzt. Auch am Freitagmorgen verharrte der Kurs auf niedrigem Niveau Ein Bitcoin kostete rund 790 US-Dollar. Furcht vor einer st rkeren Regulierung der Digitalw hrung durch Chinas F hrung lasse Anleger die Flucht ergreifen, hie es aus dem Handel. Angst vor versch rften Kontrollen Beamte der Zentralbank sowie der Stadtverwaltungen von Peking und Shanghai hatten B ros von durchsucht, wie die Notenbank am Mittwoch mitteilte. Inzwischen sind alle Gewinne einer seit Dezember bis ins neue Jahr hinein anhaltenden Rally wieder verloren. (news.financializer.com). As reported in the news.

peace research: Together with universities and the German Academic Exchange Service DAAD Germany's Foreign Office has been preparing the foundation of the institute - subsidized with a yearly sum of 400,000 euros 424,900 from German tax credits - since 2014, according to Deutsche Welle. The institute is expected to start work this summer, with the aim to advise on policy and conduct research on peace and conflict. I hope that here, in the field of peace research, findings will emerge that can be fruitful for other parts of the world, Steinmeier said. Watch video 00 34Colombia approves guerrilla 'amnesty law' Colombian President and Nobel Peace Prize holder Juan Manuel Santos said Germany is an important ally in the peace process. With the contribution of this country, our experience will be an example for other conflicts, he said. Reconciliation in Germany is our guide to peace in Colombia. (news.financializer.com). As reported in the news.

plastic: But a backlash amongst business leaders and policy makers forced the government to abandon the plan and instead propose a new law that would force plastic manufacturers to make biodegradable plastics, according to Deutsche Welle. The move makes Ghana one of the few countries to commercialize oxo-biodegradable plastics, as they are known. The problem is so urgent that the country's government announced plans to impose a partial ban on light plastics in mid-2015. Still, most industries are refusing to comply with the new standards. As a result, the plastic problem persists. Save a few businesses such as Ghanaian water firm Special Ice, a majority are still selling water in standard plastic, for instance. (news.financializer.com). As reported in the news.

topix index: On Thursday, the key market gauge tumbled 229.97 points, according to The Japan Times. The Topix index of all first-section issues closed up 9.48 points, or 0.62 percent, at 1,544.89, after falling 14.99 points the previous day. The 225-issue Nikkei average rose 152.58 points, or 0.80 percent, to end at 19,287.28. The Tokyo market attracted buying following Thursday's sharp fall in the Nikkei average, triggered by the yen's rise against the dollar stemming from U.S. President-elect Donald Trump's failure to elaborate on his economic policy steps at a news conference on Wednesday. The dollar climbed to levels around 105 on Friday, after briefly falling to a one-month low below 114 the previous day. A pause in the yen's strengthening helped push up Tokyo stocks, brokers said. (news.financializer.com). As reported in the news.

trump victory: First the economists, or most of them, predicted dire consequences following the Brexit vote by the United Kingdom, none of which have so far materialized, according to The Japan Times. Then they predicted even greater disasters following the Trump victory in the United States, but these, too, have so far failed to appear. This performance has certainly not been happy. On the contrary, both the U.K. and the U.S. economies are performing well. The pound sterling took a hit, but buoyant trading seems to be overcoming this. Stock markets in New York and London are bounding ahead, unemployment is low, economic growth is picking up, and in the U.K.'s case the fastest by far in Europe. (news.financializer.com). As reported in the news.

world bank: The authorities are very carefully calibrating their growth path, according to Global Times China. They are beginning to unwind financial sector vulnerabilities. Franziska Ohnsorge, lead economist with the World Bank, told Xinhua in London that China was in the midst of significant structural reforms. House prices seem to be stabilizing. Credit growth is slowing, she said. They have placed property market restrictions in some places. (news.financializer.com). As reported in the news.

balance sheets: On top of that, he wants Mexico to finance a US-Mexican border wall that he believes should be erected as soon as possible, according to Deutsche Welle. He's threatened carmakers with hefty import tariffs, should they continue to produce vehicles for the American market abroad, particularly in Mexico. He wants to see tougher trade restrictions, calling the NAFTA free trade accord into question and talking about imposing punitive tariffs on imports from Mexico. He's now extending his threat to basically all industries, and pharmaceutical businesses in particular, saying that imports are bad for the US, as in his view they cost jobs at home. He compares the federal trade balance with a company's balance sheets. Running a state like a business empire The real estate tycoon has not missed an opportunity to declare that he's going to run the state like a business. (news.financializer.com). As reported in the news.

chinese market: The Great Wall is ringing in a new era in the film industry, according to Deutsche Welle. Both countries are meant to profit in this win-win situation Hollywood stands to benefit from gaining a key to the gigantic Chinese market, which is the second largest in the world. To increase global revenues, production companies from both countries got together for the massive, 150-million film. For China, collaboration with the US is a pivotal step toward becoming a global player in the film industry. The film already came out in China and much of Asia and Europe in December and opens in US cinemas on February 17. But the release of The Great Wall roughly coincides with President-elect Donald Trump's debut on the world stage as a political leader. (news.financializer.com). As reported in the news.

equity markets: The Nasdaq Composite Index COMP, 0.48% which had been down by as many as 67 points earlier, finished down 16.16 points, or 0.3%, at 5,547.49, retreating from its record close set on Wednesday, and snapping a streak of seven sessions of gains, according to Market Watch. Biotech rebounded from earlier losses after Trump said drug companies were getting away with murder at his Wednesday news conference. Equity markets have been trading mostly sideways as investors begin to question the run-up in stock prices following the election on Trump's promises of fiscal stimulus. On Thursday, the iShares Nasdaq Biotechnology ETF IBB, 0.39% finished up 0.4%. The Dow Jones Industrial Average DJIA, -0.03% closed down 63.28 points, or 0.3%, at 19,891.00, after trading down by as many as 184 points earlier in the session. Walt Disney Co.DIS, 0.49% and J.P. Morgan Chase & Co.JPM, 0.53% which reports earnings Friday morning, led the losses. The declines were broad-based, with 22 of the 30 components trading lower. (news.financializer.com). As reported in the news.

george friedman: Investing as this global march toward nationalism unfolds will be volatile, says George Friedman, founder and chairman of Geopolitical Futures, an online publication that forecasts and explains global events, according to Market Watch. Accordingly, whether you are a do-it-yourself investor, work with a financial adviser or contribute to a company-sponsored retirement plan, the political and economic climate ahead demands greater awareness about where your money is committed and why. Investors, keep your seat belt fastened. The transformation to a more closed, national-centered political and economic world order from an open international structure won't be completed this year or even next, Friedman adds, but rather will form over the next decade or so, defining Donald Trump's presidency and that of the U.S. leader who directly follows him. The new political order is at odds with the old economic order, and the ensuing struggle will impact your investments and possibly your job, depending on whether your industry is favored. Globally, this tectonic shift will reshuffle positions and places of power among both nations and corporations. (news.financializer.com). As reported in the news.

imports imports: Goods trade registered a surplus of 313.4 billion as the yen's advance against other currencies hurt the value of crude oil and other imports, according to The Japan Times. Imports dropped 10.7 percent to 5.58 trillion while exports were down 0.8 percent to 5.89 trillion. The surplus in the current account, one of the widest gauges of a country's international trade, rose 28 percent from a year earlier to 1.42 trillion 12.34 billion the Finance Ministry said in a preliminary report. The dollar averaged 108.18, up from October, but down sharply from 122.54 a year ago. Hurt by the yen's advance on year, the surplus in the primary income account, which reflects how much Japan earns from foreign investments, fell 21.6 percent to 1.20 trillion. The euro traded at 116.96, down from 131.64. (news.financializer.com). As reported in the news.

libyan flag: Its mast arises from the very heart of the bazaar, a meeting point for those selling fruit, second-hand mobile phones, Turkish-made clothes, or simply popcorn, according to Deutsche Welle. Many are foreigners like Abdula, a Sudanese who has been running his own hairdresser salon for three years. The massive Libyan flag flying from its city center is visible from almost every corner of this city of 500,000 inhabitants. With prices ranging from 3 to 5 dinars 2-3 euros for a haircut, Abdula was doing fairly well until the brutal depreciation of the Libyan currency. I'll keep working until I've saved enough money to go back home and get married. Today it's increasingly difficult for him to send money back to his family in Khartoum. (news.financializer.com). As reported in the news.