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Investidores aguardam veredicto do BCE para acordo do euro

FernanV — Fri, 18 May 2012 02:10:30 +0000

Por
STEPHEN FIDLER,
de Bruxelas

Associated Press

O presidente francês Nicolas Sarkozy, ao centro, a chanceler alemã Angela Merkel e o presidente da Comissão Europeia, José Manuel Barroso, aplaudem durante congresso em Marselha, na França.

Governos europeus e investidores aguardam um veredicto sobre o acordo obtido na reunião de cúpula do fim da semana passada. O veredicto deve vir da única instituição que eles acreditam ser capaz de deter a crise da dívida da zona do euro: o Banco Central Europeu.

Em um acordo finalizado na sexta-feira, os 17 governos da zona do euro e, potencialmente, outros dos 27 países da União Europeia concordaram com uma maior centralização de seus orçamentos e com a punição automática para os que ultrapassam seu orçamento nacional.

Muitos investidores alertaram que, apesar dos progressos obtidos, a crise da região está longe de ser resolvida. “Houve progressos, mas não o suficiente para se constituir em uma solução satisfatória” da crise da dívida, disse John Lonski, economista-chefe do Grupo de Pesquisa de Mercado de Capitais da Moody’s Analytics.

Mujtaba Rahman, analista da Europa na consultoria novaiorquina Eurasia Group, disse em nota aos clientes que ainda permanece “uma série de riscos e de desafios de implementação”. Para começar, o acordo é um novo arranjo entre até 26 governos, pois o Reino Unido se recusou a apoiar uma alteração no tratado para toda a UE. O acordo exigirá a ratificação dos parlamentos nacionais – e um possível referendo na Irlanda.

A cúpula desapontou alguns analistas, por não reforçar substancialmente os fundos da zona do euro para socorro financeiro – embora prometendo um aporte extra de 200 bilhões de euros para o FMI.

Por insistência da Alemanha, o acordo também descartou, por enquanto, iniciativas para emitir títulos comuns da zona do euro – o que seria uma maneira de agrupar os recursos dos governos mais fortes e mais fracos. Berlim também conseguiu excluir ligações diretas entre os fundos de resgate do euro e o BCE, o que teria dado aos fundos um poder de fogo substancialmente maior.

Em um esforço para incentivar os investidores, os líderes concordaram em suavizar sua insistência de que os investidores privados deveriam assumir prejuízos nos futuros pacotes de socorro da zona do euro. Essa medida acrescenta credibilidade à insistente afirmação deles de que a Grécia, que já negocia um acordo acarretando perdas para os portadores de títulos, é um caso à parte.

Rahman diz que qualquer que seja o veredicto do BCE, é improvável que o banco o anuncie. Em vez disso, o mais importante é saber se o BCE vai começar a comprar mais agressivamente os títulos da Itália e Espanha, em um esforço para reduzir o custo dos empréstimos desses países.

Mario Draghi, presidente do BCE, disse a repórteres na sexta-feira que o acordo foi uma “boa base” para um pacto fiscal, mensagem que ele já havia transmitido aos líderes da zona do euro em conversas privadas, segundo disseram autoridades da UE.

Os governos da zona do euro também estão à espera de outro veredicto: o das firmas de classificação de crédito. No início deste mês, a Standard & Poor’s disse que iria reexaminar todos os governos da zona do euro que ainda não estão sob revisão para um potencial rebaixamento.

Essa lista incluiu a Alemanha, considerada a economia mais forte, mas também a França, o país que, segundo analistas, corre maior perigo de perder sua cobiçada classificação AAA.

A mídia alemã caracterizou o resultado da cúpula como uma clara vitória da premiê Angela Merkel, que deixou o Reino Unido marginalizado. “Merkel tem sucesso – Grã-Bretanha isolada”, dizia a primeira página da edição de final de semana do importante diário alemão Süddeutsche Zeitung.

Mas Mats Persson, diretor da Open Europe, centro de estudos londrino cético em relação ao euro, disse que veto da Grã-Bretanha a uma alteração do tratado da UE favorecia o presidente francês, Nicolas Sarkozy.

Sarkozy tinha se oposto a uma mudança de grande porte no tratado, segundo diplomatas, porque isso passaria os centros de poder das capitais nacionais para a Comissão Européia, o órgão executivo da EU, e o Tribunal Europeu de Justiça.

A situação também ofereceu uma oportunidade para Sarkozy avançar em uma ambição francesa de longa data: a proposta de uma união menor, sem a Grã-Bretanha e sem alguns países da Europa Oriental, na qual a França teria mais influência.

Para as empresas em toda a UE, os analistas dizem que isso poderia levar a um enfraquecimento do impulso em direção a um mercado único – a única realização da UE que os britânicos parecem apreciar.

“A Grã-Bretanha está tão isolada como sempre esteve nos 25 anos em que tenho acompanhado a UE”, disse Charles Grant, diretor do Centro para a Reforma Europeia, que é pró-UE. “Se eu fosse apostar dinheiro nisso agora, diria que a Grã-Bretanha vai sair da UE nos próximos 10 anos.”

Na reunião de cúpula, o primeiro-ministro britânico David Cameron vinculou seu apoio para alterar o tratado a condições que protegem a City de Londres, o lucrativo setor financeiro britânico. Mas Cameron não obteve concessões nem apoio entre os 26 outros líderes. “É desastroso para a City”, disse Grant. “Agora é mais provável que os 26 vão se unir contra a Grã-Bretanha acerca da regulamentação financeira.”

A Grã-Bretanha não estava sendo convidada a participar de uma união fiscal com controles mais rígidos. Foi apenas solicitada a concordar em que os outros participassem. Mas mesmo isso foi um problema para Cameron, pois teria exigido uma votação na Câmara dos Comuns.

Por causa de uma provável rebelião na ala euro-cética do seu Partido Conservador, Cameron provavelmente teria que contar com o apoio do Partido Trabalhista, de oposição, causando sério constrangimento político.

Cameron disse na sexta-feira que sua decisão, que aparentemente aumentou sua popularidade em seu país, não foi o início de um processo de desvinculação da União Europeia, e deverá repetir esse ponto de vista no Parlamento, segundo uma pessoa a par do assunto.

Segundo uma pesquisa publicada domingo no jornal britânico “The Daily Mail”, 62% disseram que Cameron fez bem em exercer seu direito de veto a um tratado relativo à UE, e 19% discordaram. A pesquisa on-line, feita pela Survation, entrevistou 1.020 pessoas.

“A UE agora sabe que este primeiro-ministro pode dizer ‘Não’”, disse John Redwood, ex-ministro conservador e euro-cético, em seu blog.

Ainda assim, a decisão de Cameron parece ter danificado as relações com seus parceiros no governo de coalizão do partido Liberal Democrata, mais pró-europeu. O vice-primeiro-ministro Nick Clegg disse à BBC que o veto foi “ruim para a Grã-Bretanha” e pode deixá-la “isolada e marginalizada”.

O acordo da cúpula da semana passada não é a única questão diante dos investidores na Europa. Eles também estão se focando mais na economia europeia. Os dados desta semana incluem números da atividade industrial da zona do euro, que, segundo analistas, devem revelar uma contração cada vez maior, e o ZEW, índice de negócios da Alemanha, muito acompanhado.

“Estamos flertando com o risco, se não com a certeza, de que a Europa está entrando em uma recessão”, disse Eric Upin, chefe de investimentos da Makena Capital, firma de investimentos em estilo endowment de Menlo Park, Califórnia.

(Colaboraram Javier E. David, Alistair MacDonald e Matthew Karnitschnig.)

Advent Software – Wealth management trends in the Middle East

FernanV — Thu, 17 May 2012 23:10:30 +0000

For wealth management organizations in the Middle East this is a time of great change, and great opportunity. The industry enjoyed a resurgence last year, with growth in both the absolute number of local and expatriate high net worth investors, and the assets of this target client pool. Meanwhile, last year assets under management rose by 15%, taking the total managed in the region to approximately US$4tn.

However, the improving environment is no rising tide that will carry every wealth manager with it. In the post-financial crisis world, supervisory authorities and investors are becoming more demanding about how assets are managed. The upshot is wealth managers will have to wrestle with a combination of evolving regulation, less stickiness of client assets with flows between managers increasing, tougher fee negotiations, transaction volume reductions, and an investor shift towards lower margin products.

To benefit from the potential opportunities, therefore, investment firms will have to demonstrate to existing and prospective clients that they can provide a compelling value proposition built around exceptional service and robust investment performance. Only by meeting—
and preferably exceeding—clients’ expectations will they be able to grow their assets under management and revenues over the long term. Furthermore, firms will have to run their businesses ever more efficiently if they are to reduce costs and improve profitability.

This white paper will set out the challenges facing wealth managers in the Middle Eastern region, and explain how those wealth managers that can marry their interests with those of their clients by leveraging the proper skills and support infrastructure can develop a winning formula.

This Advent Software white paper – Wealth management
trends in the Middle East looks at:

• Regulatory Reforms
International reform agenda
Middle East developments
Wealth manager implications

• Wealth Management Competition
Oil
Capital flows
Provider competition

• Differentiating Service
Transparency and communication
Analyze and optimize portfolio performance
Risk management
Client reporting
Improve service delivery

• Operational Imperatives
Lack of automation
Manual vs Automated Processes

Brazil iron ore startup Manabi files to sell stock

FernanV — Thu, 17 May 2012 20:10:30 +0000

RIO DE JANEIRO |
Wed May 16, 2012 8:33pm EDT

RIO DE JANEIRO May 16 (Reuters) – Brazil’s Manabi SA, an
iron ore startup which wants to build a mine, pipeline and port,
said Wednesday that its board has applied to the Brazilian
securities regulator for approval to sell stock in Brazil,
Canada and the United States.

No amount for the sale was given, according to a statement
filed with the regulator, known as the CVM. According to other
company documents on file with the CVM, the company hopes to
complete its financing plans by the end of the third quarter of
this year.

The Brazilian and U.S. stock sales are to be managed by
Credit Suisse Group AG, Banco Itau BBA SA and Goldman
Sachs Group Inc..

The Canadian sale will be managed by Credit Suisse, Goldman
Sachs and by Bank of Montreal’s Nesbitt Burns unit.

Manabi expects to begin major construction in the first
quarter of 2012, with the mine in Minas Gerais state due to
start commercial production in the third or fourth quarter of
2015, the documents said, without saying how much the firm plans
to produce.

Manabi is 60 percent owned by Brazil’s Fabrica Holding Ltda.
and 40 percent by U.S. based IronCo LLC.

The company also has non-voting, preferred stock investors
who have agreed to buy shares in a private placement. These
include the Ontario Teachers Pension Fund, and Korea Investment
Corp, according to a shareholders’ agreement.

Ontario Teachers has been an investor in several other
Brazilian iron ore ventures including MMX Mineracao e Metalicos
SA, controlled by Brazilian billionaire Eike Batista.

Jordan profile

FernanV — Thu, 17 May 2012 17:10:30 +0000

The Hashemite Kingdom of Jordan is a small country with few natural resources, but it has played a pivotal role in the struggle for power in the Middle East.

The population at that time was largely made up of tribes which had taken part in the Great Arab Revolt against the Ottoman Empire. Today, those original inhabitants – known as East Bank Jordanians – are outnumbered by the descendants of Palestinian refugees from Israel and the West Bank. The first ruler of Jordan, the Hashemite Abdullah I, was born in Mecca and played a leading role in the Great Arab Revolt.

The death in February 1999 of King Hussein, who ruled for 46 years, left Jordan still struggling for economic and social survival, as well as regional peace.

His son, Abdullah II, who succeeded him to the throne, faces the task of maintaining stability while accommodating calls for reform. A blueprint for long-term political, economic and social change – known as the National Agenda – has yet to be implemented.

Jordan's reputation as one of the region's safest countries was dealt a blow in late 2005 when dozens of people were killed in suicide bomb attacks on hotels in the capital. Iraq-based Islamic militants claimed responsibility. The king said Jordan had been targeted because of its location and its stances.

Unlike many of the states in the region Jordan has no oil of its own. Its resources are limited to phosphates and agricultural produce. The economy depends largely on services, tourism and foreign aid, for which the US is the main provider. Jordan prides itself on its health service, one of the best in the region.

Bassnectar On World Cafe

FernanV — Thu, 17 May 2012 14:10:30 +0000

Story By: World Cafe

Bassnectar’s new album is Vava Voom.

Since beginning his “open-source” musical project in the 1990s, Lorin Ashton and his Bassnectar alias have become nearly superhuman. Bassnectar is associated with a community of devoted Bass Heads, several non-profit and charity organizations and shows of such epic proportions, they’re called Bass Centers. Ashton describes his music as “the motion of [his] cells bouncing back at the world,” and tens of thousands of people connect with it as a deeply human pursuit, as well. Last year, he sold out a New Year’s Eve show attended by 10,000 fans.

This year, Bassnectar has a new album and a new tour â two pursuits sure to give Bass Heads plenty to celebrate. Vava Voom was released in April and features collaborations with Lupe Fiasco, ill.Gates and Tina Malia. While he often discusses how his influences are rarely apparent in what he creates, several sources have identified the chords of Orbital’s “Halcyon” in Vava Voom‘s “Empathy.” Hear Ashton discuss his influences and his music in today’s episode of World Cafe.

Gove pushes for performance pay

FernanV — Thu, 17 May 2012 11:10:30 +0000

Teachers' pay in England and Wales could be linked to performance and set at different local levels, under proposals set out by the government.

The Department for Education has submitted the suggestions to the independent pay review board.

Education Secretary Michael Gove says he wants a system that can attract the highest quality teachers.

Teachers' unions have already raised the prospect of industrial action against plans for regional pay.

"Reform of the current pay system for teachers is fundamental to driving up teacher quality," said Mr Gove.

He rejected the current system as "rigid, complex and difficult to navigate".

The House of Commons education select committee recently called for a pay system that reflected the different contributions of school staff.

"We are concerned that the pay system continues to reward low-performers at the same levels as their more successful peers," MPs reported.

The Department for Education in Westminster submitted its proposals to the School Teachers' Review Body (STRB), which makes recommendations on teachers' pay for both England and Wales.

The timetable for the proposed changes would see the STRB responding in the autumn – with the secretary of state announcing a decision next year, which could apply from September 2013.

Mr Gove says that the quality of teaching is fundamentally linked to school standards – and that the pay structure should be designed to attract and reward the best staff.

But the suggestion of deregulation pay brought a wave of condemnation from teachers' unions, which say that it would be more likely to undermine than inspire teachers.

"Teachers are already suffering from pay freezes, job losses and increases in pension contributions – they now face pay cuts due to a policy based on ideology not evidence," said National Union of Teachers' leader Christine Blower.

The NASUWT teachers' union leader, Chris Keates, says the research evidence "demolishes the coalition government's case for local and regional pay".

The suggestions set out by the Department for Education are intended to create a stronger link between performance and reward.

It suggests options that could range from complete deregulation – where schools could create their own pay systems – to limited flexibility, with maximum and minimum pay bands.

The intention would be to allow schools more flexibility in using their budgets to target particular needs – whether for teachers in shortage subjects or as an incentive to keep the most effective staff.

It also raises the idea of different pay in different areas – with "local pay zones".

Mary Bousted, leader of the ATL teachers' union, questioned how an individual teachers' contribution could be fairly assessed.

She also highlighted a report earlier this week which argued that the international evidence did not show any clear link between performance-related pay for teachers and pupils' test results.

HBTF, first bank in Palestine and Middle East to run Oracle’s latest technology on ICS Financial Systems’ Universal Banking Software

FernanV — Thu, 17 May 2012 08:08:50 +0000

The Housing Bank for Trade and Finance (HBTF) – Palestine to run Oracle’s latest technology; Oracle Database 11g and Oracle WebLogic Server 11g on its core banking software supplied by ICS Financial Systems Ltd. – ICSFS, the International leading provider of the banking and financial solution, ICS BANKS.

The migration process started in November 2011, and was accomplished in a record time of one month. After the migration process from distributed to centralised architecture, and from 10g to latest 11g and Weblogic, the bank went through a major upgrade of its technology, which included complete centralisation of its operations. The bank became the first of its kind in Palestine and Middle East to roll out a centralised core system with Oracle’s latest technology.

HBTF, which deployed ICS BANKS system in 1995, is enjoying now record processing levels.

Managing Director of ICSFS; Mr. Robert Hazboun expressed that the implementation of ICS BANKS latest version will positively contribute to the bank’s operational business and performance.
“HBTF is a long-standing client of ICSFS, and we are delighted to be part of the bank’s success for around seventeen years. As a result of the quick smooth and efficient process of running ICS BANKS on Oracle’s latest technology, the bank will continue fulfilling its customers’ needs and providing best financial products and services supplied by ICSFS.”

Meanwhile, HBTF’s Chief Information Officer said, “Moving to ICS BANKS centralised version on Oracle’s latest technology, HBTF has made an unprecedented achievement. We are proud to be the first bank in Palestine and Middle East to use this technology. This migration will deepen our customer relationships, keep us in pace with market trends, while reducing costs and enhancing revenue. We believe that ICSFS’ vast industry knowledge and expertise in the banking and financial sectors will offer us the opportunity to showcase our capabilities, products and services that suit our clients’ needs.”

ICS BANKS was also recognized as the first banking application to implement Oracle’s latest technology, Oracle Database 11g and Oracle WebLogic Server 11g, in Africa and the Middle East, and even among the first in the world.

ICS BANKS provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client, J2EE environment.

‘Speak up, speak out’

FernanV — Thu, 17 May 2012 05:08:50 +0000

Erin Brockovich has long been a champion for clean water. Her efforts to sue Pacific Gas & Electric for polluting the water supply of a California town were adapted into a big-screen story, 2000′s Erin Brockovich, starring Julia Roberts in the Oscar-winning title-role.

The real Brockovich is back on the big screen in the new documentary Last Call at the Oasis. The 51-year-old activist is among various environmental experts cited in the 100-minute film, which explores challenges related to the planet’s dwindling and increasingly polluted water supply.

Brockovich is still advocating for the little guy. The film shows her visiting a community in Midland, Texas, where water comes out of the tap bright green.

She took time out during her cross-country travels to talk about the future of the world’s water supply.

Article continues below

Celebration of EPA’s Wetlands Month to Include Students, Watershed Association

FernanV — Thu, 17 May 2012 02:08:50 +0000

Release Date: 05/03/2012Contact Information: Kris Lancaster, 913-551-7557, lancaster.kris@epa.gov

Environmental News

NEWS MEDIA ADVISORY

(Kansas City, Kan., May 3, 2012) – EPA Region 7 staff, St. Regis Catholic School students and Blue River Watershed Association staff will participate in an outdoor classroom wetland event May 8 at Swope Park in Kansas City, Mo.

During the event, EPA scientists will teach students about the importance of wetlands to the environment. Students will conduct wetland monitoring, remove invasive species and identify native species found in wetlands.

Swope Park is a 1,800-acre wooded park that houses the Kansas City Zoo, Starlight Theatre, Blue River Golf Course, Swope Memorial Golf Course, a Disc Golf Course, Swope Park Pool, picnic areas and a pond for fishing. Additionally, the Blue River winds through the park.

WHAT: EPA Region 7 environmental scientists teaching St. Regis Catholic School students about the benefits of wetlands and identification of native species

WHEN: 11:00 a.m. to 12:30 p.m., May 8, 2012

WHERE: Swope Park, 5600 E. Gregory Boulevard, Kansas City, Mo. 64132 (Intersection of Oldham Road and Gregory Boulevard)

WHO: EPA Region 7 Administrator Karl Brooks, EPA Region 7 environmental scientists, St. Regis Catholic School students and Blue River Watershed Association staff

This month marks the 21st anniversary of EPA’s American Wetlands Month. Throughout May, there will be a number of events scheduled across the country to educate, involve and engage Americans who want to better understand the value of wetlands. Wetlands provide critical habitat for plants, fish and wildlife; replenish and clean water supplies; provide recreational opportunities; and serve as sites for scientific research and education.
# # #

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Published by: United States Environmental Protection Agence (EPA) (yosemite.epa.gov)

Facebook has fascinating theory on romantic breakups

FernanV — Wed, 16 May 2012 23:08:50 +0000

LOS ANGELES, CA (Catholic Online) – British journalist and graphic designer David McCandless compiled the chart. He showed off the graphic at a TED conference last July in Oxford, England. McCandless said he and a colleague scraped 10,000 Facebook status updates for the phrases “breakup” and “broken up.”

His researchers found two big spikes on the calendar for breakups. The first was after Valentine’s Day, that holiday has a way of defining relationships, for better or worse and in the weeks leading up to spring break. Maybe spring fever makes people restless, or maybe college students just don’t want to be tied down when they’re partying in Cancun.

It seems that the other big romantically treacherous time, according to their findings, is about two weeks before Christmas, the time presumably when people begin pricing gifts for their significant others.

Mondays, as if they weren’t bad enough, are the most likely day to break up. Summer and fall look like the safest seasons.

As proof that some people’s sense of humor is more twisted than others, there’s also a spike in breakups on April Fool’s Day.

What single day are you least likely to get a “Dear John (or Jane)” letter?

“Christmas Day,” McCandless said. “Who would do that?”

Published by: Catholic Online (www.catholic.org)