CIMB sends the region's top junior golfers to TPC Sawgrass, Florida, for intensive training

Kuala Lumpur, Malaysia: CIMB Group today awarded 8 of the region's top junior golfers with Scholarships for an overseas training stint. This is part of the CIMB Junior Golf Development Programme, the which is the junior development program of the Asia Pacific Classic CIMB, Malaysia.

The intensive training program will from be conducted by the PGA TOUR Academy at its headquarters at TPC Sawgrass in Florida from 13 to 20 December 2010.

The juniors, 4 boys and 4 girls, hail from Malaysia, Indonesia, Singapore and Thailand. They are Evrin Hee Loy Chang and Ying from Malaysia, Jordan Surya Irawan and Nadya Rosiana from Indonesia, Danthai Boonma and Virunpat Olankitkunchai from Thailand, and Tan Yan Sun and Rachel Lim from Singapore.

They received the Scholarships from Dato 'Sri Nazir Razak, Group Chief Executive of CIMB Group. Also present at the event were the resource persons Ty Votaw, Executive Vice President, Communications & International Affairs of the PGA TOUR and Shane Gillespie, Head Instructor of the PGA TOUR Academy at Orlando as well as representatives from the golf associations of the four countries.

Speaking at the event, Dato 'Sri Nazir Razak said, "We are very pleased That through our title sponsorship of the CIMB Asia Pacific Classic, Malaysia, We Are Able to create development opportunities for the region's top juniors with top coaches from the United States and Are Also Able to link with the PGA TOUR Them. "

"We believe That this corporate social responsibility initiative of the Group will from lay a strong foundation in building future golf professionals in the region," he added. The juniors from both the Under-12 and Under-15 age groups, are part of the 60 junior golfers from Malaysia, Indonesia, Singapore and Thailand Who Are Part of the CIMB Junior Development Programme.

The program is Designed and conducted by the PGA TOUR Academy. Kicking off the CIMB Junior Development Programme training camps this year were the resource persons conducted in June and September by the TOUR Academy's top coaches - Travis Fulton, Shane Gillespie and John Stahlschmidt.

16 of the program's junior golfers are Also present at the CIMB Asia Pacific Classic, Malaysia and have undergone coaching Clinics conducted by professionals taking part in the tournament - Arjun Atwal, Ricky Barnes and Shih Beng Lam.

Forex Strong U.S. manufacturing data, Dollar Rise

U.S. dollar rose against other major currencies on Monday (01/11/2010) local time, driven by strong manufacturing data in the United States and China.

The euro traded at 1.3897 dollars around 2200 GMT, down from 1.3929 dollars late Friday.

Against the Japanese currency, the dollar rose slightly to 80.49 yen from 80.42 yen on Friday.

Traders took a pause ahead of U.S. Federal Reserve announcement on Wednesday that are expected to resume large-scale purchases of bonds in an effort to promote economic recovery is sluggish.

Investors also are on the tense and nervous ahead of U.S. elections on Tuesday and key government data on payment of monthly salaries and pegangguran on Friday, analysts said.

"The market has a lot to digest this week," said David Gilmore of Foreign Exchange Analytics. "People will feel much better having all the information on Friday."

Dollar received a boost from major industry survey menunjukka U.S. manufacturing unexpectedly rose in October, raising hopes for the latest quarter rose that can support economic recovery.

Institute of Supply Management said its purchasing managers index jumped to 56.9 percent from 54.5 percent in September, driven by strong increases in new orders and production.

The increase was much stronger than the 54.0 percent decline expected by most analysts.

The data comes after a report that China's manufacturing activity hit a six-month in October.

In late New York trading, the dollar was taken 0.9913 Swiss francs, up from 0.9825 on Friday.

The pound rose to 1.6042 dollars from 1.6022 dollars.

Bursa Saham Asia Bergerak Mixed

Singapore - Asian stock markets mixed colored moving stocks ANZ Bank in Australia. Meanwhile, Japan's Nikkei stock depressed commodity stocks.

In trading Thursday (28/10) Nekkei shares down 0.1%, Australia S7P index naik1%, Korea's Kospi index Selatannaik 0.1% and the NZX-50 index rose 0.3%. ANZ Bank is the largest rise in Australia rose 2.6% after posting net income rose 53% to 4.5 Australian dollars. While the banking sector shares rose 1.2% to 1.3%.

Chinese stock markets extend decline in the first session, triggered by profit taking in stocks of pharmaceuticals, health after their rise recently. The Shanghai Composite fell by 0.6% at 2979.77 level, is expected to try to survive on the support 2950 to the end of the session later.

"Action on sales in the health sector is in line with the forecast as investors switch to cycle sector of the defense sector in hopes of solid economic growth," said Li Lei of the Gold State Securities.

For Hangseng index increased by 0.3% at 23228.79 level of the first session, the condition began to stabilize after a natural index decreased by 1.9% yesterday, but sentiment was still cautious trade ahead of the October futures contract expires today.

Alvin Cheung of Prudential expect the index to revolve around the level of 23000-23800 for the short term. "Consolidation is going to happen but if the movement of U.S. dollar weakened again later, I still expect any further decline in equity markets will remain limited," he said.

Meanwhile, Japanese stocks traded slightly lower on Thursday morning in Tokyo ahead of policy decisions by the Bank of Japan, pressured by weak Wall Street and with many traders waiting for a number of earnings announcements. The Nikkei Stock Average fell 0.3% to 9,372.38, and the Topix fell 0.3% to 815.81

Gold Price Decrease Over 1%

Gold prices finally come down from record highs amid uncertainty surrounding the U.S. economic stimulus delivery. The price of gold, silver and platinum prices fell along with other commodities.

The decline of gold and other commodity prices that occurred as the U.S. dollar index. The currency had already fallen too far because investors are too enthusiastic about the plan for continued disbursement of stimulus.

In trading Wednesday (27/10/2010), price of gold in the spot market reached its lowest point at U.S. $ 1318.74, and eventually closed down 1.1% to a level of U.S. $ 1323.65. Prices of gold futures for December delivery closed down U.S. $ 16 to as low as U.S. $ 1322.60.

All investor attention now being focused on the Federal Reserve meeting next week. They look forward to continued stimulus that will digelontorkan the Fed in order to stimulate the U.S. economy anymore.

"Expectations of a more gradual approach to 'quantitative easing' by the Fed has made a reversal (the price of gold)," said James Steel, chief commodities analyst at HSBC, as quoted by Reuters on Thursday (28/10/2010).

Enthusiasm was whole when the Wall Street Journal reports the Fed is likely to prevent pendepatan a 'shocking and awe'.

U.S. Dollar rose to its highest point recorded over two weeks of the euro and the yen as sentiment. As is known, the weakening U.S. dollar had previously been made in commodity prices including gold hit a record highs. Gold prices hit a record highs recorded at U.S. $ 1,387 per ounce in early October, following the expectation the Fed will continue the stimulus phase II.

TRADE DIPLOMACY China Market Business Strategy

The main fear pascaimplementasi Free Trade Agreement between ASEAN and China or ACFTA is the flood of Chinese goods to Indonesia. Almost all eyes watched the real world, even without force ACFTA, Chinese products have spread to remote rural areas.

One country to another is connected with connecting lines, such as the ASEAN-China. It is conceivable, if Indonesia refused ACFTA, Indonesia would also lose the connecting lines with ASEAN.

Think again, the defeat of Indonesia who "surrendered" without a fight would certainly be an opportunity for other countries invaded China as a potential market. In front of the eyes of the countries in ASEAN, China's population reaches 1.3 billion people is a lucrative market.

Not only against the Chinese, Indonesian products that will enter into ASEAN will not be competitive because of import duties of Indonesian products to countries that will apply normal rates are much higher or longer categorized as Most Favoured Nation (MFN). A hard choice, but must be faced.

Pascaperundingan ACFTA, the signing of the agreement was signed ACFTA in November 2004. Since then, the imposition of tariffs for products that are agreed upon starting to agree reduced. Peak, January 1, 2010, import duties of products determined to be zero percent.

Industrial fire beard though. Ten years ACFTA initiated, direct Chinese government to strengthen leadership within Ingar despite perpolitikannya noise. Not just socializing, but they also prepare and implement and oversee the industry roadmap.

"Conversely, we even like fire beard. This occurs because the government and the business sector there is no power to unite, "said Chief Executive Officer (CEO) Group Garudafood Sudhamek AWS in Jakarta, late last March.

Durability export

In the midst of diplomatic relations over 60 years of Indonesia and China, the trade balance in the last 10 years is indeed a major concern. Central Bureau of Statistics (BPS) showed, during the years 1999 to 2007 Indonesia recorded a trade surplus with China, but the years 2008-2009 (January-October) in deficit.

Indonesian exports to China tend to increase until 2008, but the crisis that shook cause our exports to weaken resistance. While imports from China to Indonesia is unshakable, even tended to increase.

U.S. Stocks fell

Weakening economic growth in China, causing the U.S. stock market plummeted in trading Tuesday (06/29/2010) local time. The Dow Jones Industrial Average fell more than three percent before closing at nine positions. 870.30.

The Nasdaq index fell 85, 47 points (3.85 percent) to 2135.18 and the position of the S & P 500 index fell 33, 33 points (3.10 percent) to position 1 .041,24. Berjatuhannya stock price has been started from the early trading, as the fall of Asian and European stock indexes.

The Conference Board, a research institute of the United States, has revised the economic indicators for China from 1.7 percent to 0.3 percent. It was reported by the AFP news agency, on Wednesday morning, when Indonesia.

In the U.S. stock market, the price of Citigroup shares closed down 6.75 percent to 3.73 U.S. dollars. All shares of blue-chip Dow totaling 30 shares, closed down, with shares of Alcoa (Aluminum Company) and aircraft manufacturer Boeing, was closed down more than 6 percent.

Flood Singapore Retailers Million Dollar Losses due to Floods

Losses due to floods that hit retailers in Singapore, Wednesday (06/16/2010), estimated at millions of dollars in Singapore. Losses include damage to merchandise, to the repair shop.

Just imagine, ranging from toilet paper costs 10 Singapore dollars to designer handbags worth thousands of dollars in Singapore should be damaged by flooding. Hermes, Massimo Dutti, to the shops in Lucky Plaza suffered substantial losses.

The retailers in Lucky Plaza reveals, this is the worst flood they've ever experienced. Even so, they claimed, they should have been more vigilant, to remember every year the basement area is always covered with water.

Sales surge trinkets Ball

Sales of knick-knacks such as the 2010 World Cup team uniforms, balls, and dolls in Bandung, West Java about a month jump since last. Dipekirakan sales peaked when the semifinals and finals, especially on weekends.

Chioda sports administrators store, Sandra Yulianingtyas in Bandung, Friday (06/11/2010), said that sales of products with the most significant increase in the uniform of the team. At the time except during the World Cup in 2010, about 30 shirts sold per day.

"Since a month ago, sales rose to an average of 70 shirts. Later, when the semifinals and final, predicted sales figures could reach 120 pieces," he said. Uniform prices starting from Rp 50,000 to the most expensive around USD 350,000.

Public Relation Officer Development Section Indomaret Bandung Ari Hilman said, most sold product is a ball, clothes, and dolls. "The new two-hour sale today, sold 10 dolls, 15 balls, and 25 clothing," he said

Therefore, he is optimistic as many as 1,000 balls, 2,000 clothes and dolls can be sold during the 1000 World Cup in 2010 took place on June 11 to July 11, 2010. Doll World Cup mascot Zakumi the 2010 sale with prices starting at USD 44 000 with a height of approximately 10 cm. The clothes start from U.S. $ 74 000 for adult socks. Jabulani ordinary ball and each sold for Rp 90,000 and Rp 179 000.

"In addition, the sale of official ball used in the 2010 World Cup match at Rp 1.1 million," said Ari.

The biggest football party of four year once it also enjoyed the small-medium businesses (SMEs) of textiles in West Java. "Not bad, could breath while the perpetrators of SMEs that," said the Indonesian Textile Association Chairman Ade Jabar Afif.

Fed Ready to Help Overcome Crisis Europe

The Federal Reserve Chairman Ben S. Bernanke declared Central Bank of the United States was prepared to give aid, nor the currency exchange currency swap to withstand the impact of the debt crisis in Europe. The Fed will take this step if necessary to maintain financial system stability and the world economy.

Bernanke expressed this when the Budget Committee hearing with American Parliament. "In international cooperation, we have provided an important signal to global financial markets, that we will take steps if necessary, in order to ensure stability and ongoing economic recovery," Bernanke said.

This step further Fed Ben, will provide a light impact to the recovery and economic growth in the United States. Especially if financial markets continue to stable world. "

Ben reiterated that the current U.S. economic recovery took place peacefully, especially in commercial real estate marketplace and residence. He also warned that policy makers rose by continuing to reduce the budget deficit figures in the long term.

Transaction in Indonesian Rupiah Must!

After a delayed twice, parliament and the government finally began discussing the draft law on Currency. At the inaugural meeting, Monday (07/06/2010), Finance Commission (XI) as the author and initiator of the House of Representatives presented an outline of the candidate's beleid.

Vice Chairman of the House of Representatives Commission IX Sohibul Iman Mohamad declared that the draft law Currency consists of 12 chapters and 45 articles. Candidate product of this law is the mandate of the Constitution in 1945. 23B Constitution Article 45 states, the prices and different currencies should be set in the Act itself, rather than part of the system of legislation other.

Currently, management of money and currency regulated Law No. 3 Year 2004 concerning Bank Indonesia (BI). Though will be arranged, the House guarantee, a number of fixed currency management authority in the hands of central banks. For example, the right to print, distribute, overseeing circulation, draw, wipe out money, until the determination of the type of transaction that may use another country's currency.

Currency bill contains a number of important points. For example, the printing of money. In Article 14 states that BI should be printing money at home and use the services of state-owned enterprises (SOEs). If the rules are approved, then the BI certainly can no longer mengorder printing of money to foreign companies as before.

In 1999, for example, the central bank to print money made from polymer fractions USD 100 000 to Securency International and Note Printing Australia, a subsidiary of Reserve Bank of Australia (RBA). BI also handed over the printing of banknotes 50,000 pictorial second President, Suharto, to De La Rue, Singapore.

Currency bill also regulates the use of liability as a means of payment or the amount of financial transactions in the territory of Indonesia. However, this rule provides an exception, namely BI can specify the use of currencies other than the amount for a specific transaction types or in certain regions.

Use of current liability amount stipulated in the Law of BI. In this beleid, central banks also require that all transactions are actually wearing Garuda currency. However, the BI provides an exception. For certain purposes or to meet liabilities in foreign currency which was agreed in writing, the rupiah should not be used.

Currency bill also regulates a matter of sanctions. Take for example, anyone who does not use the amount of money in the transaction or refuse to accept rupiah as a means to pay can be punished with the threat of a maximum of one year in prison and fined Rp 200 million.

Agus Martowardojo Finance Minister can not comment much on the Currency bill. "We will study the past and give an answer next week," said Agus

China imports more goods flowing

ncreasing the flow of goods flowing from China to Indonesia. Data Central Statistics Agency (BPS) shows, the value of products imported into the country a giant wall of our country continue to rise.

In April 2010, the value of imported products from China reached 1.48 billion U.S. dollars, up 143.2 million U.S. dollars rather than in March and that only 1.34 billion dollars. In contrast, our exports into China declined 165.2 million U.S. dollars, from 1.09 billion U.S. dollars to 929.8 million U.S. dollars.

Tail, the Indonesia-China trade balance in April and suffered a deficit of 553.6 million U.S. dollars. While for the January to April 2010, the trade balance deficit reached 1.591 billion U.S. dollars. "The deficit with China must be strictly monitored," BPS chief Rusman Heriawan said on Tuesday (06/01/2010).

Yes, the invasion of the country of origin products are a billion people do not get out of the implementation of the Free Trade Agreement aka ASEAN Free Trade Agreement with China (ACFTA). However, Rusman states, balance of trade deficit with China was not worried. You see, the overall trade balance surplus in Indonesia is still printing. For example, with the United States, a surplus of 306.8 million U.S. dollars in April, while during January-April 2010 a surplus of 1.06 billion U.S. dollars.

So also with South Korea and Taiwan. With South Korea, our trade balance surplus amounted to 141.4 million U.S. dollars during April. As for the surplus of 49.6 million Taiwan dollars.

Rusman added, in April 2010, Indonesia's import value reached 11.53 billion U.S. dollars or an increase of 71.98 percent compared with April 2009. "It shows passion in domestic economic activity squirm," he said.

Export Decline

Unlike the import figures in April and then increased by 5.12 per cent to be 11.53 billion U.S. dollars than the previous March, the value of Indonesian exports actually fell by 5.66 percent to 12.05 billion U.S. dollars. However, when compared with April last year, our export value increased by 42.56 percent. Japan remains the largest export destination countries.

Trade Minister Mari Elka Pangestu said that, despite the drop in exports in April 2010, the average monthly value of exports this year is still higher than last year. "The decline is not because the debt crisis that hit several countries in Europe, but Europe remains a crisis we must be aware of," said Mari

Euro Touch Lowest Level

U.S. Dollar rose two cents against the euro on Tuesday (04/05/2010), sending the European single currency to as low as one year because of fears of debt crisis, the euro zone expands.

Euro bought 1.2981 dollars in late New York trading, down from 1.3195 dollars on Monday. "U.S. dollar mostly higher in the search supported the recall of risk," said Brian Kim from UBS.

Investor worry that the rescue package 110 billion euros (145 billion U.S. dollars) made by the euro zone and the IMF will not solve the crisis of Greek and - even worse - that other vulnerable economies will become infected.

Strengthened market jitters amid mounting public anger reports in Greece, where angry workers stormed the Acropolis to protest wage cuts in planned expenditure by the government ahead of general strike on Wednesday.

"The market really does not buy the idea that the 110 billion euro aid package for Greece is the perfect solution," said Patrick O'Hare at Briefing.com.

Meanwhile, Spanish Prime Minister Jose Luis Rodriguez Zapatero was forced to quell rumors that Spain has requested an auxiliary strap 280-billion-euro, calling it "absolute insanity."

In Washington, the IMF also issued a rebuttal brief said. "There is no truth of this rumor," said a spokesman, later announced that the IMF board will meet on Sunday "to follow" the Greek request for aid 40 billion dollars.

Japan-Singapore, Indonesia Largest Creditor

Bank Indonesia reported that Japan and Singapore as the largest lenders to Indonesia until March 2010.

In a discussion with reporters on Friday (30/04/2010), International Director of Bank Indonesia said Nelson Tampubolon, Japan became the largest creditor to the government and central bank debt, amounting to 34 percent of the total foreign debt group or 105.6 billion U.S. dollars .

Other large creditors include international organizations by 29 percent, the United States amounted to 21 percent, and the remaining European countries. Meanwhile, Singapore's loan funds devote 33 percent of the total foreign debt of private parties in Indonesia, which amounted to 75.1 billion U.S. dollars.

The Netherlands amounted to 25 percent, Japan 20 percent, and the United States amounted to 11 percent. However, he continued, in debt, about 58 percent of total Indonesia's foreign debt borrowed in U.S. dollars. The rest, among others, in yen, amounting to 20 percent, the rupiah 12 per cent, euro 5 per cent and three per cent in Singapore dollar.