Global News Post: Stock Market

Indian Govt. to Announce Measures to Boost Market

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</span></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">KOLKATA, India (NNN-Bernama) -- Government will soon announce measures to improve market conditions, Finance Minister Pranab Mukherjee disclosed here on Saturday. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"The steps we have taken...And we will be able to take certain measures to be announced on Monday which will improve market condition," Mukherjee, who will resign as Finance Minister on June 26, told reporters. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Secretary in the Department of Economic Affairs R Gopalan had on Friday consulted RBI Governor D Subbarao, who is aboard, about the measures underway, Press Trust of India (PTI) quoted the Finance Minister as saying. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Mukherjee expressed concern over sharp depreciation in rupee and inflationary pressures. "I would like to say GDP (growth) is at 6.5 per cent.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">There is inflationary pressure on economy, there is depreciation of Rupee. These are, no doubt, signs of weakness in Indian economy ...I am concerned but I am not depressed". <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">He said when the global economy is in turmoil,"then no country can expect that there will be pocket of development and particularly a large economy like India which is the third largest in terms of purchasing power parity cannot remain insulated from external factors". <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Rupee has lost over 20 per cent against the US dollar in the last one year.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">It has weakened to over Rs 57 to a dollar, exerting inflationary pressure on the economy, particularly with regard to crude oil imports. The stock market has lost ground and industrial growth has slipped to 0.1 per cent in April. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">However, Mukherjee, who has been named as the UPA Presidential candidate said the Indian economy is resilient with strong fundamentals. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">He said the period from January to June 6, 2012 saw an inflow of FII money to the tune of US$8 billion, as against negative flow in 2011. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"...FDI stood at USD 46-48 billion which is higher than last fiscal," Mukherjee said. -- NNN-BERNAMA<o:p></o:p></span></div></div>

Indian Govt. to Announce Measures to Boost Market

KOLKATA, India (NNN-Bernama) -- Government will soon announce measures to improve market conditions, Finance Minister Pranab Mukherjee di...

European, US Markets Fall on Greek Uncertainty

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</span></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">  <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">European and U.S. stock markets are falling sharply as traders voice new concerns about political uncertainty in Greece and whether it could become the first country to drop out of the 17-nation euro currency union. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Stock indexes in London, Paris and Frankfurt all dropped by more than 2 percent in afternoon trading Monday, while major exchanges in New York dropped about 1 percent as trading opened for the week.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The value of the euro currency also fell below $1.29 for the first time in nearly four months.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><b><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Greek uncertainty<o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">European and U.S. stock markets are falling sharply as traders voice new concerns about political uncertainty in Greece and whether it could become the first country to drop out of the 17-nation euro currency union.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Stock indexes in London, Paris and Frankfurt all dropped by more than two percent in afternoon trading Monday, while major exchanges in New York dropped about 1 percent as trading opened for the week.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The value of the euro currency also fell below $1.29 for the first time in nearly four months.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">One European market analyst, Theodore Krintas, said the inability of Greek political leaders to form a new government and the uncertainty of whether they will adhere to an austerity program to cut the country's deficit is leading to turmoil on financial markets.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"I believe that the markets would like the country to vote or actually to take on a new vision, a viable vision for the next 10 to 15 years," he said. "Markets are very comfortable with discounting the next 10 to 15 years and very, very uncomfortable with uncertainty and what we are feeding the markets, what Greece is feeding the markets the past one and a half years now is uncertainty and uncertainty only."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><b><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Stern warning<o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">European leaders pressured Greece to adhere to terms of the agreement they reached earlier this year calling for sharp social spending cuts, higher taxes and elimination of government jobs in exchange for approving the second international bailout for the country in the last two years.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">As the finance chiefs of European governments gathered in Brussels for a meeting, their message for Athens was stern. Spanish Foreign Minister Jose Manuel Garcia-Margallo said Greece's continued role in the eurozone depended on it "complying with the rules of the game."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 0%;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The German finance ministry said the "only and right" position for Greece is to adhere to its pledge on austerity measures.</span><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> ---VOA News</span><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div></div>

European, US Markets Fall on Greek Uncertainty

European and U.S. stock markets are falling sharply as traders voice new concerns about political uncertainty in Greece and whether it ...

OIC to Launch Its Stock Exchange Index

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<div style="border-bottom: double windowtext 2.25pt; border: none; mso-element: para-border-div; padding: 0in 0in 1.0pt 0in;">  <div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="font-family: 'Trebuchet MS';"><br />
</span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="font-family: "Trebuchet MS";">JEDDAH (NNN-SPA) -- The Secretary General of the Organization of Islamic Cooperation (OIC), Ekmeleddin Ihsanoglu said that the Organization will launch its Stock Exchange Index at the Stock Forum of the Muslim world during this year (2012).<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="font-family: "Trebuchet MS";">In a press statement Monday, he said the Declaration of Stock Exchange Index will activate financial sectors and economies in the OIC Member States, noting the establishment of Union of Agricultural Industries of Islamic countries, and Islamic Center of Businessmen during the coming months. -- NNN-SPA<o:p></o:p></span></div></div></div>

OIC to Launch Its Stock Exchange Index

JEDDAH (NNN-SPA) -- The Secretary General of the Organization of Islamic Cooperation (OIC), Ekmeleddin Ihsanoglu said that the Organizat...

Qualified Foreign Investors (QFIS) Allowed to Directly Invest in Indian Equity Market;

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</span></div><div class="MsoNormal" style="text-align: center;"><b><i><span style="font-family: "Trebuchet MS";">Scheme to Help Increase the Depth of the Indian Market and in Combating Volatility besides Increasing Foreign Inflows into the County<o:p></o:p></span></i></b></div><div class="MsoNormal" style="text-align: justify;"><br />
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</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">New Delhi (PIB): In a major policy decision, the Union Government of India has decided to allow Qualified Foreign Investors (QFIs) to directly invest in Indian equity market in order to widen the class of investors, attract more foreign funds, and reduce market volatility and to deepen the Indian capital market. QFIs have been already permitted to have direct access to Indian Mutual Funds schemes pursuant to the Budget announcement 2011-12. Today’s decision is a next logical step in the direction.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">                                                     <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">Foreign Capital inflows to <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> have significantly grown in importance over the years. These flows have been influenced by strong domestic fundamentals and buoyant yields reflecting robust corporate sector performance.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">               <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">In the present arrangement relating to foreign portfolio investments, only FIIs/sub-accounts and NRIs are allowed to directly invest in Indian equity market.  In this arrangement, a large number of Qualified Foreign Investors (QFIs), in particular, a large set of diversified individual foreign nationals who are desirous of investing in Indian equity market do not have direct access to Indian equity market. In the absence of availability of direct route, many QFIs find difficulties in investing in Indian equity market.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">               <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">As a first step in this direction, QFIs have been permitted direct access to Indian Mutual Funds schemes pursuant to the Budget announcement 2011-12. As a next logical step, it has now been decided to allow QFIs to directly invest in Indian equity market in order to widen the class of investors, attract more foreign funds, and reduce market volatility and to deepen the Indian capital market.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">           <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">The QFIs shall include individuals, groups or associations, resident in a foreign country which is compliant with FATF and that is a signatory to IOSCO’s multilateral MoU. QFIs do not include FII/sub-accounts.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
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</div><div class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Trebuchet MS";">Salient Features of the Scheme:<o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Trebuchet MS";">RBI would      grant general permission to QFIs for investment under Portfolio Investment      Scheme (PIS) route similar to FIIs.<o:p></o:p></span></li>
</ul><div class="MsoNormal" style="text-align: justify;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Trebuchet MS";">The      individual and aggregate investment limit for QFIs shall be 5% and 10%      respectively of the paid up capital of Indian company. These limits shall      be over and above the FII and NRI investment ceilings prescribed under the      PIS route for foreign investment in <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>.<o:p></o:p></span></li>
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</div><div class="MsoNormal" style="text-align: justify;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Trebuchet MS";">QFIs shall      be allowed to invest through SEBI registered Qualified Depository      Participant (DP). A QFI shall open only one demat account and a trading      account with any of the qualified DP. The QFI shall make purchase and sale      of equities through that DP only.<o:p></o:p></span></li>
</ul><div class="MsoNormal" style="text-align: justify;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Trebuchet MS";">DP shall      ensure that QFIs meet all KYC and other regulatory requirements, as per      the relevant regulations issued by SEBI from time to time.  QFIs shall remit money through normal      banking channel in any permitted currency (freely convertible) directly to      the single rupee pool bank account of the DP maintained with a designated      AD category - I bank. Upon receipt of instructions from QFI, DP shall      carry out the transactions (purchase/sale of equity).<o:p></o:p></span></li>
</ul><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Trebuchet MS";">DP shall be responsible      for deduction of applicable tax at source out of the redemption proceeds      before making redemption payments to QFIs.<o:p></o:p></span></li>
</ul><div class="MsoNormal" style="text-align: justify;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Trebuchet MS";">Risk      management, margins and taxation on such trades by QFIs may be on lines      similar to the facility available to the other investors.<o:p></o:p></span></li>
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</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">The scheme is expected to help increase the depth of the Indian market and in combating volatility besides increasing foreign inflows into the county.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">           <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS";">SEBI and RBI are expected to issue relevant circulars to operationalise the scheme by January 15, 2012.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
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Qualified Foreign Investors (QFIS) Allowed to Directly Invest in Indian Equity Market;

Scheme to Help Increase the Depth of the Indian Market and in Combating Volatility besides Increasing Foreign Inflows into the County Ne...

World Stocks Plunge on Call for Greek Debt Plan Vote

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<div class="MsoNormal" style="text-align: justify;">World stock markets plummeted Tuesday on <st1:country-region w:st="on"><st1:place w:st="on">Greece</st1:place></st1:country-region>'s unexpected call for a referendum on the European debt-relief agreement, while the continent's leaders scrambled on how to react to the surprise development.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">Asian indexes fell sharply, and European stocks plunged. Markets in <st1:city w:st="on">London</st1:city>, <st1:city w:st="on">Paris</st1:city> and <st1:place w:st="on">Frankfurt</st1:place> slid three to five percent in afternoon trading. Stocks of banks holding Greek debt were particularly hard hit.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">European Union leaders Herman Van Rompuy and Jose Manuel Barroso said they "fully trust" <st1:country-region w:st="on"><st1:place w:st="on">Greece</st1:place></st1:country-region> to uphold last week's eurozone debt-relief agreement.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;">It forgives $140 billion in Greek debt in exchange for the <st1:city w:st="on"><st1:place w:st="on">Athens</st1:place></st1:city> government carrying out widespread austerity measures that have angered many Greeks, as well as boosting the continent's bailout fund for future emergencies.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">But other European leaders and financial analysts said they were shocked when Greek Prime Minister George Papandreou late Monday called for the referendum, which could be held early next year.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;">Several said a Greek vote against the debt-relief agreement would amount to <st1:country-region w:st="on"><st1:place w:st="on">Greece</st1:place></st1:country-region> deciding to leaving the bloc of 17 nations that use the euro currency and lead to new turmoil on world financial markets.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">Ireland's European affairs minister Lucinda Creighton said the referendum was a grenade thrown into the continent's financial turmoil just days after many thought European leaders had acted decisively to calm fears about a Greek default on its obligations.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;">She said that "legitimately there is going to be a lot of annoyance" about the referendum plan.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">French President Nicolas Sarkozy held an emergency Cabinet meeting and later planned to call German Chancellor Angela Merkel to discuss how to deal with the Greek call for a referendum.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;">The new turmoil came just two days before the Group of 20 leaders of the world's biggest and emerging economies are headed to <st1:place w:st="on"><st1:city w:st="on">Cannes</st1:city>,  <st1:country-region w:st="on">France</st1:country-region></st1:place> for a summit. The European debt crisis, and fears that it could prompt a new worldwide recession, and other economic issues are at the center of summit's agenda.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">Papandreou has been a staunch supporter of the plan to cut <st1:country-region w:st="on"><st1:place w:st="on">Greece</st1:place></st1:country-region>'s debt, while binding his country to years of austerity measures. But Papandreou told ruling Socialist party members in parliament that the "command of the Greek people will bind us." He said if the Greek people do not want it, the plan will not be adopted.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">European and world leaders have praised the adoption of the plan aimed at cutting Greek debt and calming world financial markets worried about a Greek default. The agreement also forces European banks to increase their cash reserves and boosts the bailout fund.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">But the Greek people for months have recoiled at the tax increases and spending cuts the <st1:city w:st="on"><st1:place w:st="on">Athens</st1:place></st1:city> government has been forced to adopt to satisfy its international creditors. They have staged repeated strikes in protest, some of them violent.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">One Greek survey showed 60 percent of those questioned took a negative view of the <st1:city w:st="on"><st1:place w:st="on">Brussels</st1:place></st1:city> agreement, reached in the middle of the night last Thursday. <o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">The Greek leader's call for a referendum came as new reports in <st1:place w:st="on">Europe</st1:place> show that the economic fortunes of the 17 eurozone nations are markedly weakening, with higher unemployment and diminished growth prospects for 2012. Until Monday, there had been no suggestion of a referendum on the plan.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;">The Paris-based Organization for Economic Cooperation and Development (OECD) predicted that collectively the economies of the bloc of countries that use the euro will virtually stall in 2012, with some of them sliding into a recession. The agency projected growth of only three-tenths of one percent, less than a sixth of the 2 percent growth that was projected just five months ago. ---VOA News</div></div>

World Stocks Plunge on Call for Greek Debt Plan Vote

World stock markets plummeted Tuesday on Greece 's unexpected call for a referendum on the European debt-relief agreement, while the co...

Global Stocks Drop Again After Rebound

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<div style="text-align: justify;"><i>U.S. stocks fell as much as 3 percent Wednesday and European stock markets dropped even further because of concerns about weak U.S. economic growth and growing worries about Europe's debt problems.  Asian stocks closed earlier Wednesday with gains. </i></div><div style="text-align: justify;"><i><br />
</i></div><a href="http://www.amazon.com/Field-Guide-U-S-Economy-Irreverent/dp/1595580484?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Field Guide to the U.S. Economy: A Compact and Irreverent Guide to Economic Life in America, Revised and Updated Edition" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=1595580484&tag=glob036-20" /></a><a href="http://www.amazon.com/Day-After-Dollar-Crashes-Survival/dp/047091033X?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;" target="_blank"><img alt="The Day After the Dollar Crashes: A Survival Guide for the Rise of the New World Order" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=047091033X&tag=glob036-20" /></a><i><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=047091033X" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />The decline in Europe and the United States ended a strong stock rally that began <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=1595580484" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Tuesday after top officials of the U.S. central bank said they will probably keep interest rates at their current ultra-low level until the middle of 2013. </i><i></i><br />
<div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i>The U.S. Federal Reserve's record-low interest rates are intended to make it easier to borrow money, expand businesses, and hire people.  </i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i><br />
</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i>The Fed said it took the action because of a downbeat assessment of the economy.  Officials said they are worried that the nation's economy is recovering more slowly and the labor market is weaker than expected. </i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i><br />
</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i>The economy is on the agenda at the White House Wednesday, with U.S. President Barack Obama scheduled to meet with Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke. </i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i><br />
</i></span></div><div style="text-align: justify;"><a href="http://www.amazon.com/Individual-requirements-promulgation-international-accounting/dp/B000PAUOLU?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Individual investors' attitudes towards listing requirements for foreign entities on U.S. stock exchanges and the promulgation of international accounting ... Accounting, Auditing and Taxation]" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000PAUOLU&tag=glob036-20" /></a><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><i>Tuesday's U.S. Federal Reserve meeting followed several days of steep losses for stock markets around<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B000PAUOLU" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> the world, and Friday's downgrade of U.S. credit by the Standard & Poor's rating agency. Central bank officials said they discussed other policy options to boost the economy, and are ready to use them if needed.(VOA News)</i></span></div></div>

Global Stocks Drop Again After Rebound

U.S. stocks fell as much as 3 percent Wednesday and European stock markets dropped even further because of concerns about weak U.S. economi...

European Markets Boosted by US Rate Announcement

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<div style="text-align: justify;"><b><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">By Selah Hennessy from London</span></i></b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><a href="http://www.amazon.com/All-About-Index-Funds-ebook/dp/B002ACOBAQ?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="All About Index Funds: The Easy Way to Get Started (All About Series)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B002ACOBAQ&tag=glob036-20" /></a><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B002ACOBAQ" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />European stock markets appeared to welcome the news that the U.S. Federal Reserve plans to keep interest rates low for at least two years, but analysts say the situation remains highly volatile.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">The U.S. central bank said Tuesday it would maintain “exceptionally low” interest rates at least until 2013. That appears to have rallied European markets.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Analysts across Europe said the pledge to keep interest rates low in the United States is good news.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Long-term concerns remain</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">But Robert Halver, a trader at Germany's Baader Bank, said the announcement was not enough to ease long-term concerns.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">“We have a guarantee. Two more years of low interest environment in America. It’s a wonderful cushion, but it’s not sufficient to calm the markets, we need a political solution to the worldwide problems,” he said.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Halver said the markets are likely to remain unsteady until the political climate becomes more clear. </span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><a href="http://www.amazon.com/Modeling-equity-integration-transition-analysis/dp/B000RR4XOK?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Modeling equity market integration using smooth transition analysis: A study of Eastern European stock markets [An article from: Journal of International Money and Finance]" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000RR4XOK&tag=glob036-20" /></a><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">"I guess very important is that politics is able to find solutions for the debt crisis and for economic<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B000RR4XOK" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> perspectives, right now in America, in the eurozone I find no clear solution for the problems we are facing each day," said Halver.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Slow global growth</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">The Paris-based Organization for Economic Cooperation and Development [OECD] said this week that most of the world's largest economies are heading for a period of slower growth. The Federal Reserve also said it is concerned about slow growth in the United States.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Last week the U.S. credit rating was downgraded, and some analysts worry the biggest economy in the world could be heading back into recession. </span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><a href="http://www.amazon.com/FRAGMENTATION-MARKET-QUALITY-EUROPEAN-MARKETS/dp/3844382704?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="FRAGMENTATION AND MARKET QUALITY IN EUROPEAN STOCK MARKETS" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=3844382704&tag=glob036-20" /></a><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=3844382704" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Olivier de La Ferriere, a fund manager in France, said slow economic growth means the markets will remain timid. The environment, he said, is uncertain.  </span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">In Europe, an ongoing government debt crisis is a big part of the problem. Three countries, Greece, Portugal, and Ireland, have been bailed out by their euro neighbors to avoid defaults on their debts.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Watching Europe's debt crisis</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Some fear Italy and Spain, two of Europe’s larger economies, could be heading in the same direction. </span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Eurozone countries, led by Germany and France, have stepped in to help their ailing neighbors. And on Monday the European Central Bank bought billions of dollars worth of Spanish and Italian bonds after they were shunned by private investors. </span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Investors say economic decisions that come after bitter political wrangling help create a climate of uncertainty.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><a href="http://www.amazon.com/Origins-Europes-New-Stock-Markets/dp/0674031717?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="The Origins of Europe's New Stock Markets" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0674031717&tag=glob036-20" /></a><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Howard Wheeldon, a London-based investor, said what is needed is an overhaul of the way the<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=0674031717" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> eurozone and the single currency works. </span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">“Quite simply, unless we have forward thinking ideas and acceptance that the euro in its present form, the single-currency experiment if you want to call it that, has actually failed, we need to rethink a way forward,” he said.</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></i></div><div style="text-align: justify;"><i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Until politicians make a clear commitment to do so, he said, markets will remain volatile.(VOA News)</span></i></div></div>

European Markets Boosted by US Rate Announcement

By Selah Hennessy from London European stock markets appeared to welcome the news that the U.S. Federal Reserve plans to keep interest rat...

Investors in US Financial Markets Dump Stocks, Buy Treasuries

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<div class="separator" style="clear: both; text-align: center;"></div><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; font-size: xx-small; line-height: 20px;"><b><i>By Peter Fedynsky from New York</i></b></span><br />
<span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;"></span><br />
<span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;"></span><br />
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<tr><td class="tr-caption" style="text-align: center;"><div class="MsoNormal" style="text-align: justify;"><i><span style="line-height: 115%;"><a href="http://www.flickr.com/photos/dannels/4188736287/sizes/m/in/photostream/"><span style="text-decoration: none;"><span class="Apple-style-span" style="color: #666666; font-size: xx-small;">©www.flickr.com/dannels</span></span></a><span class="Apple-style-span" style="font-size: 7pt;"><o:p></o:p></span></span></i></div></td></tr>
</tbody></table><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">The downgrading of U.S. creditworthiness by the Standard & Poor's rating agency late last week triggered the worst losses on U.S. financial markets Monday since the 2008 global economic crisis.  But, investors still consider U.S. government securities to be among the world’s safest investments.</span><br />
<span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
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<a href="http://www.amazon.com/Dow-Jones-Industrial-Average-Websters/dp/0546875602?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Dow Jones Industrial Average: Webster's Timeline History, 1896 - 2007" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0546875602&tag=glob036-20" /></a><a href="http://www.amazon.com/Treasury-Bond-Basis-Depth-Arbitrageurs/dp/0071456104?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="The Treasury Bond Basis: An in-Depth Analysis for Hedgers, Speculators, and Arbitrageurs (McGraw-Hill Library of Investment and Finance)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0071456104&tag=glob036-20" /></a><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=0071456104" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=0546875602" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />The Dow Jones Industrial Average fell below 11,000, dropping more than 630 points - about 5.5 percent on Monday.  The Standard and Poor's 500 slid 6.7 percent, with every stock listed on the index ending the day in negative territory.  The technology-heavy NASDAQ index was down 6.9 percent.  </span><span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></span></div><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">Doug Roberts, chief investment strategist for Channel Capital Research, attributes the sell-off to the loss of America’s highly regarded AAA bond rating.</span><span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></span></div><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">“Right now, we saw basically the aftermath of the S&P downgrade and that put in a great deal of fear in the market and you saw the sell-off that results," said Roberts.</span><span class="Apple-style-span" style="background-color: white;"></span><br />
<table align="right" border="0" class="promoFeature imgBg" style="background-attachment: initial; background-clip: initial; background-color: initial; background-origin: initial; background-position: 50% 0%; border-bottom-color: rgb(221, 221, 221); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(221, 221, 221); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(221, 221, 221); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(221, 221, 221); border-top-style: solid; border-top-width: 1px; font-family: Arial, Helvetica, sans-serif; font-size: 10px; margin-bottom: 15px; margin-left: 5px; margin-right: 0px; margin-top: 5px; padding-bottom: 5px; padding-left: 5px; padding-right: 5px; padding-top: 5px; position: relative; width: 240px;"><tbody style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">
<tr style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><td style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><div style="font-size: 1.4em; line-height: 1.5; margin-top: 3px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><strong style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">S&P lists 5 pillars in its Sovereign Rating Framework as:</strong></div></td></tr>
<tr style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><td style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><ul style="list-style-image: initial; list-style-position: initial; list-style-type: none; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><li style="background-attachment: initial; background-clip: initial; background-color: initial; background-image: url(http://media.voanews.com/designimages/bullet-orange-tiny.gif); background-origin: initial; background-position: 0px 5px; background-repeat: no-repeat no-repeat; font-size: 1.2em; line-height: 1.25; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 4px; padding-left: 8px; padding-right: 0px; padding-top: 0px;">Institutional effectiveness and political risks, reflected in the political score</li>
<li style="background-attachment: initial; background-clip: initial; background-color: initial; background-image: url(http://media.voanews.com/designimages/bullet-orange-tiny.gif); background-origin: initial; background-position: 0px 5px; background-repeat: no-repeat no-repeat; font-size: 1.2em; line-height: 1.25; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 4px; padding-left: 8px; padding-right: 0px; padding-top: 0px;">Economic structure and growth prospects, reflected in the economic score</li>
<li style="background-attachment: initial; background-clip: initial; background-color: initial; background-image: url(http://media.voanews.com/designimages/bullet-orange-tiny.gif); background-origin: initial; background-position: 0px 5px; background-repeat: no-repeat no-repeat; font-size: 1.2em; line-height: 1.25; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 4px; padding-left: 8px; padding-right: 0px; padding-top: 0px;">External liquidity and international investment position, reflected in the external score</li>
<li style="background-attachment: initial; background-clip: initial; background-color: initial; background-image: url(http://media.voanews.com/designimages/bullet-orange-tiny.gif); background-origin: initial; background-position: 0px 5px; background-repeat: no-repeat no-repeat; font-size: 1.2em; line-height: 1.25; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 4px; padding-left: 8px; padding-right: 0px; padding-top: 0px;">Fiscal performance and flexibility, as well as debt burden, reflected in the fiscal score</li>
<li style="background-attachment: initial; background-clip: initial; background-color: initial; background-image: url(http://media.voanews.com/designimages/bullet-orange-tiny.gif); background-origin: initial; background-position: 0px 5px; background-repeat: no-repeat no-repeat; font-size: 1.2em; line-height: 1.25; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 4px; padding-left: 8px; padding-right: 0px; padding-top: 0px;">Monetary flexibility, reflected in the monetary score<br style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;" /><br style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;" /><strong style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">(Source: Standard & Poor's Sovereign Rating Framework)</strong></li>
</ul></td></tr>
</tbody></table><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">The price of gold reached a record high on Monday - more than $1,700 per ounce - as investors dumped stocks and sought safe haven in the precious metal.  They also shifted money into U.S. government securities.</span><span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></span></div><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=0071456104" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Peter Cardillo, chief market analyst with Rockwell Global Capital, notes the irony: </span><span class="Apple-style-span" style="background-color: white;"><div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></div></span><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">“People are not really afraid that the United States is not creditworthy," said Cardillo. "And as a result of that, they poured in - both foreigners and domestic investors - poured into the Treasury market.”</span><span class="Apple-style-span" style="background-color: white;"><div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></div></span><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">Cardillo says the fundamentals of the U.S. economy are strong and that the steep decline in U.S. stock prices during the past two weeks is a market correction, not a crash.  He says the U.S. debt downgrade is a warning to American politicians.</span><span class="Apple-style-span" style="background-color: white;"><div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></div></span><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B001GF3JC4" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=046508138X" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />“It sent a loud message to the politicians that gridlock should not continue and that they need to get their <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B004TSMGS8" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />political aspirations put on the side, and they need to work a deficit reduction plan that will satisfy the ratings agencies, and, of course, will satisfy the markets in general," he said.</span><span class="Apple-style-span" style="background-color: white;"><div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></div></span><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">Analyst Doug Roberts says it is critical that Tuesday’s Federal Reserve meeting address short-term stock market volatility.  He says fixing the problem over the long-run will involve painful reforms.  </span><span class="Apple-style-span" style="background-color: white;"><div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></div></span><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">“There’s a huge amount of credit that was built up in the private sector that’s now being supported by an increase in the debt in the public sector, and until we look at some fundamental reforms to deal with this, which will be painful, this is likely to continue," he said.</span><span class="Apple-style-span" style="background-color: white;"><div style="padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; line-height: 20px;"><br />
</span></div></span><span class="Apple-style-span" style="background-color: white; font-family: Times, 'Times New Roman', serif; line-height: 20px;">Analyst Peter Cardillo says the fact that the market did not bounce up at the end of the day might indicate more declines on Tuesday.</span><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">(VOA News)</span></i></div><br />
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Investors in US Financial Markets Dump Stocks, Buy Treasuries

By Peter Fedynsky from New York ©www.flickr.com/dannels The downgrading of U.S. creditworthiness by the Standard & Poor'...

Global Markets Slide Continues

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><a href="http://www.amazon.com/Roads-Riches-Becoming-Successful-Investor/dp/B0034ZPHCE?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Roads to Riches: 6 Steps to Becoming a Successful Real Estate Investor" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B0034ZPHCE&tag=glob036-20" /></a><a href="http://www.amazon.com/Intelligent-Investor-Definitive-Investing-Practical/dp/0060555661?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0060555661&tag=glob036-20" /></a><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=0060555661" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Asian and European markets are lower Tuesday as investors react to an<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B0034ZPHCE" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> unprecedented downgrade of the U.S. government's credit rating and lingering concerns about European debt problems and global economic growth.</span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Japan's Nikkei index closed 1.68 percent lower Tuesday, recovering from a more than 4 percent drop earlier in the session.<span>  </span>Analysts said some buyers came in looking for bargains.<span>  </span>Hong Kong's Hang Seng index closed down 5.66 percent, while Seoul's KOSPI index hit sits lowest point in more than a year.<span>  </span><o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">European markets are tumbling again after a brief up-tick at opening.<span>  </span>U.S. market futures are also lower as investors wait to see what, if any, action the U.S. central bank - Federal Reserve - will take after it holds a regularly scheduled one-day meeting in Washington Tuesday.<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><a href="http://www.amazon.com/Street-Insider-Trading-Michael-Douglas/dp/B0038Z5T4Q?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Wall Street (Insider Trading Edition)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B0038Z5T4Q&tag=glob036-20" /></a><a href="http://www.amazon.com/Wall-Street-Money-Never-Sleeps/dp/B004A2AN5G?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Wall Street: Money Never Sleeps" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B004A2AN5G&tag=glob036-20" /></a><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B004A2AN5G" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />On Wall Street Monday, the index that measures broad U.S. stock market<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=B0038Z5T4Q" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> activity, the S&P 500, was down almost 7 percent.<span>  </span>It was the biggest drop since December 2008.<span>  </span>Major indexes across Europe were down by 3 to 5 percent.<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Monday's trading sessions were the first chance for most investors to react to the change in the Standard & Poor's rating, which was announced Friday evening after world markets had closed.<span>  </span>U.S. government debt is now rated "AA+," one level below the highest possible rating of "AAA."<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">However, investors continued to buy U.S. Treasuries, seeking the safety of government debt amid stock market volatility.<span>  </span>That effectively lowers the price the government must pay to borrow money.<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Gold is also at record highs, but the prices of most other commodities, including oil, fell as investors appeared to be bracing for an economic slowdown or even a possible return to recession.<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><a href="http://www.amazon.com/Alwaleed-Businessman-Billionaire-Riz-Khan/dp/0060850302?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img alt="Alwaleed: Businessman, Billionaire, Prince" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0060850302&tag=glob036-20" /></a><a href="http://www.amazon.com/Stock-Market-Dalal-Street-Journal/dp/8190575104?ie=UTF8&tag=glob036-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Stock Market Book" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=8190575104&tag=glob036-20" /></a><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=8190575104" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />U.S. President Barack Obama said he disagrees with the S&P downgrade, but that<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=glob036-20&l=bil&camp=213689&creative=392969&o=1&a=0060850302" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> he hopes it will prompt lawmakers in Washington to agree on what he called a balanced approach to debt and deficit reduction - including higher taxes for the wealthy and cuts in spending on social programs.<span>  </span>Republicans immediately rejected the idea of tax increases.<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">S&P Monday defended its decision, saying increasing debt levels in the United States and the inability of Congress and the president to reach political consensus for significant deficit reductions were "no longer comparable with the most highly rated governments."<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><i><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">The other two major credit rating agencies - Moody's and Fitch - have so far kept the U.S. at the highest AAA rating.<b> </b>(VOA News)<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify;"><span class="Apple-style-span" style="line-height: 18px;"><b><br />
</b></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div></div>

Global Markets Slide Continues

Asian and European markets are lower Tuesday as investors react to an unprecedented downgrade of the U.S. government's credit rating a...

Stocks Plunge in US, Europe amid New Worries of Global Downturn

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><a href="http://www.amazon.com/Bust/dp/B004ALDXXG?ie=UTF8&tag=widgetsamazon-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Bust" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B004ALDXXG&tag=widgetsamazon-20" /></a><span class="Apple-style-span" style="font-size: 16px; line-height: 18px;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=widgetsamazon-20&l=bil&camp=213689&creative=392969&o=1&a=B004ALDXXG" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Stock markets plunged in the United States and Europe on Thursday amid new concerns that the world may be headed toward another sharp economic downturn.</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Key stock indexes in the United States dropped by more than 2 percent in midday trading, nearly wiping out accumulated gains for 2011. The U.S. losses came as major European exchanges closed even lower, down by nearly 4 percent.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Investors sold their holdings as indicators around the globe pointed to official worries about the state of the economies in the United States, Europe and Japan.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">A U.S. report showed new evidence of the country's weak labor market.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">A total of 400,000 unemployed workers made their first claims for jobless benefits last week, a figure that was down only slightly from the week before. Financial experts say the figure has to drop to below 375,000 and stay there awhile to give U.S. companies enough confidence in the national economy to hire more workers.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Meanwhile, the European Central Bank said it had resumed purchase of bonds from indebted governments. It was an effort to try to keep Italy and Spain from being engulfed in the continent's debt contagion that has already forced Greece to secure two international bailouts in the last year and Ireland and Portugal one apiece.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">The central bank also said it would provide more emergency credit to banks that hold large amounts of bonds issued by debt-ridden European governments.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Japan pledged to inject $126 billion into its economy, an effort to weaken the yen so that the country's exports might prove more attractive to overseas buyers.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><iframe align="left" frameborder="0" marginheight="0" marginwidth="0" scrolling="no" src="http://rcm.amazon.com/e/cm?t=widgetsamazon-20&o=1&p=8&l=bpl&asins=B005BCPHLE&fc1=000000&IS2=1&lt1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr" style="align: left; height: 245px; padding-right: 10px; padding-top: 5px; width: 131px;"></iframe>The U.S. has the world's largest economy, but investors have voiced little confidence in the country's sluggish recovery. They shrugged off the impact of the agreement this week by President Barack Obama and Congress to increase the nation's borrowing limit and avoid an unprecedented default on the government's financial obligations.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">Instead, traders have dumped stocks as first, one report showed the pace of manufacturing has fallen to a two-year low, and then the unemployment claims number was only marginally improved.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-latin;">On Friday, the U.S. is releasing its monthly unemployment for July, but experts do not think it will be changed from June's 9.2 percent figure. (VOA News)<o:p></o:p></span></div></div>

Stocks Plunge in US, Europe amid New Worries of Global Downturn

Stock markets plunged in the United States and Europe on Thursday amid new concerns that the world may be headed toward another sharp econo...

Asia Stocks Tumble

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><span class="Apple-style-span" style="line-height: 18px;"></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">By Steve Herman from Seoul<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><a href="http://www.amazon.com/Common-factors-returns-emerging-markets/dp/B000RR5ERU?ie=UTF8&tag=widgetsamazon-20&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Common risk factors in returns in Asian emerging stock markets [An article from: International Business Review]" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000RR5ERU&tag=widgetsamazon-20" /></a><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=widgetsamazon-20&l=bil&camp=213689&creative=392969&o=1&a=B000RR5ERU" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Investors in Asia turned pessimistic, Wednesday, reversing gains earlier in the week after U.S. lawmakers reached a debt deal which averted an unprecedented American default.<span style="mso-spacerun: yes;">  </span>Share prices fell sharply in the region in the latest trading session, with analysts saying Asian stock exchanges were reacting to renewed worry about the direction of the world’s largest economy.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Major stock markets in Asia dropped, on average, more than two percent. Meanwhile, gold surged to a record high, while the dollar stayed weak, especially against the Japanese yen.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Fresh concern followed Wall Street’s Tuesday declines because of weak U.S. economic reports and poor earnings from several major American corporations.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In South Korea, the benchmark KOSPI closed at 2066 points, a drop of 2.6 percent. In Japan, the Nikkei index finished 207 points lower, some 2.1 percent.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Hong Kong’s Hang Seng index fell more than 428 points, a loss of 1.9 percent. And, in India, the benchmark Sensex hit a six-week low in intra-day trading.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Sean Hwang, who heads equity research at Mirae Asset Securities in Seoul sees a temporary flight to safety among Asian investors continuing for a week or two.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">"The sky-rocketing U.S. ten-year Treasuries and gold price shows the risk appetites of investors are really low. For the time being the investors' preference to these kind of safe assets will remain. But the price imbalance between the risky assets and the safe assets are heavily distorted," he said. "So we expect the risky assets' price to recover, sooner or later."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Hwang says investors will realize there is still value in purchasing stocks in some of the emerging markets.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">"Compared to the other asset classes, the stock markets, such as [South] Korea and China, appear to be significantly undervalued,” said Hwang.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In Japan there are indications of readiness to intervene in currency markets, with the dollar around 77 yen, nearing a record low in the modern era.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Japanese Finance Minister Yoshihiko Noda is vowing to make “an all-out effort” to prevent a further surge for his country’s currency.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Prime Minister Naoto Kan is also calling the strong yen a source of concern and says Japan has to closely watch foreign exchange markets.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The strong yen threatens to eliminate any economic rebound for Japan, following its devastating March 11th earthquake and tsunami. That fear is being echoed by Bank of Japan Governor Masaaki Shirakawa, who says the yen’s current level could negatively effect the country’s economy, the world’s third largest.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Meanwhile, a little-known Chinese debt rating agency has downgraded the U.S. credit rating.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Dagong Global Credit Rating lowered its rating for U.S. debt from A-plus to A. It says the deal reached in Washington this week will not solve the underlying U.S. debt problems nor improve the country's ability to pay.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Chinese downgrade is not expected to have much effect on interest rates because the two major rating agencies in the United States have announced they will not immediately be altering America’s top rating.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Chinese Central Bank Governor Zhou Xiachuan is calling on Washington to impose “responsible measures” to manage its debt. In a statement, Zhou warned that volatility in the U.S. bond market could affect the international monetary system’s stability, jeopardizing a global economic recovery.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">China is the largest holder of U.S. debt and the world’s second largest economy. (VOA News)<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><iframe align="left" frameborder="0" marginheight="0" marginwidth="0" scrolling="no" src="http://rcm.amazon.com/e/cm?t=widgetsamazon-20&o=1&p=8&l=bpl&asins=B000PDTW88&fc1=000000&IS2=1&lt1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr" style="align: left; height: 245px; padding-right: 10px; padding-top: 5px; width: 131px;"></iframe>         <iframe align="left" frameborder="0" marginheight="0" marginwidth="0" scrolling="no" src="http://rcm.amazon.com/e/cm?t=widgetsamazon-20&o=1&p=8&l=bpl&asins=0972892281&fc1=000000&IS2=1&lt1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr" style="align: left; height: 245px; padding-right: 10px; padding-top: 5px; width: 131px;"></iframe>        <iframe align="left" frameborder="0" marginheight="0" marginwidth="0" scrolling="no" src="http://rcm.amazon.com/e/cm?t=widgetsamazon-20&o=1&p=8&l=bpl&asins=0710305494&fc1=000000&IS2=1&lt1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr" style="align: left; height: 245px; padding-right: 10px; padding-top: 5px; width: 131px;"></iframe></span></div><br />
</div>

Asia Stocks Tumble

By Steve Herman from Seoul Investors in Asia turned pessimistic, Wednesday, reversing gains earlier in the week after U.S. lawmakers reach...

US Stocks Rise

<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdIJM3VrW57czBl4b_cbG12mEN6umwIM2ba5s3j8p3rXP2f0_cH75oQGThk61S-jp3uYkR4neZBMxe7TeIJ2fHOS60DT3lpyOvv8nABTnmclyjVy9aZutqc6V0c7x2IfFcIDMB6LS-l1E/s1600/business.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="71" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdIJM3VrW57czBl4b_cbG12mEN6umwIM2ba5s3j8p3rXP2f0_cH75oQGThk61S-jp3uYkR4neZBMxe7TeIJ2fHOS60DT3lpyOvv8nABTnmclyjVy9aZutqc6V0c7x2IfFcIDMB6LS-l1E/s320/business.png" width="320" /></a></div><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">U.S. stock market indexes rose in Thursday's trading. The Dow Jones Industrial Average advanced 1.2 percent to end at 12,724. The S&P 500 rose 1.4 percent to finish at 1,344, while the NASDAQ gained seven-tenths of a percent to reach 2,834. <o:p></o:p></span></b><br />
<div style="border-color: currentColor currentColor windowtext; border-style: none none double; border-width: medium medium 2.25pt; mso-element: para-border-div; padding: 0in 0in 1pt;"><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">European stock markets were higher at the close of trading. London's Financial Times 100 index gained eight-tenths of a percent to end at 5,900, the CAC-40 in Paris moved up 1.7 percent to finish at 3,817, and the DAX in Frankfurt jumped one percent to hit 7,290. <o:p></o:p></span></b></div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">Earlier in Asia, Tokyo's Nikkei index gained a fraction of a percent to finish at 10,010. Hong Kong's Hang Seng index lost a tenth of a percent to finish the day's trading at 21,987.<o:p></o:p></span></b></div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">The price of gold fell nearly $10 to trade at $1,590.50 an ounce. <o:p></o:p></span></b></div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: currentColor; margin: 0in 0in 10pt; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">The dollar was lower against the yen and the euro.</span></b> <b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">(VOA News)<o:p></o:p></span></b></div></div></div>

US Stocks Rise

U.S. stock market indexes rose in Thursday's trading. The Dow Jones Industrial Average advanced 1.2 percent to end at 12,724. The S&...

Pre-Market Video By India Infoline

World Markets Plunge as Japan Disaster Widens

<div dir="ltr" style="text-align: left;" trbidi="on"><br /><div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">  <div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Stock markets in the United States, Asia and Europe plunged sharply on Tuesday as investors dumped stocks over worries about the nuclear crisis in Japan.<span style="mso-spacerun: yes;">  </span>The Japanese government is trying to reassure markets that Japan is open for business - injecting hundreds of billions into money markets.</span></b></div><div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="mso-spacerun: yes;">  </span><o:p></o:p></span></b></div><div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Even as the world reaches out to aid the quake and tsunami devastated nation of Japan, global financial markets are doing the opposite --dumping stock holdings in businesses directly or indirectly affected by the disaster.<span style="mso-spacerun: yes;">  </span>Japan is one of the world’s largest economies because it manufactures products used around the world.As a result, Japan expert Nicholas Szechenyi at the Center for Strategic and International Studies tells says any disruption in Japan tends to have a proportional impact in other parts of the world.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"Japan’s economy is very much integrated with the Asia Pacific region in terms of exports and manufacturing and also with the global supply chain.<span style="mso-spacerun: yes;">  </span>When you talk about the globalization of the international economy, it’s about the production of components of imports and exports,” Szechenyi said. “It’s a very elaborate system and any delays in Japan as a result of this catastrophe can have ripple effects on the international economy.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"The ripples have had a depressing effect on global stocks, sending oil prices lower and weakening shares in companies with substantial business interests in Japan. Masaaki Kanno at JP Morgan Securities calls it a dangerous over-reaction fueled by panic-stricken investors.”And if this vicious cycle starts then actually people’s risk appetite wanes furthermore and nobody knows how far the Nikkei should fall," Kanno states. The sell-off decimated major indexes in Japan. <o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Tokyo's benchmark Nikkei plunged more than 10 percent as investors reacted to the possibility of a Japanese nuclear catastrophe. Traders in Europe and the United States also dumped stocks on Tuesday, although in some cases the markets recovered some of their losses. The Japanese government has injected nearly $250 billion into its financial system to reassure markets, but analysts says the full extent of the quake’s damage in the world's third largest economy will not be known for some time.(VOA)<o:p></o:p></span></div></div></div>

World Markets Plunge as Japan Disaster Widens

Stock markets in the United States, Asia and Europe plunged sharply on Tuesday as investors dumped stocks over worries about the nuclear c...