My Economic Points

Leading business group from South Korea, Lotte Group, aiming at producing business of plastic material or other petrochemicals in Indonesia with an estimated investment value of around 3 billion U.S. dollars to 5 billion U.S. dollars. Lotte feel comfortable investing in Indonesia because it had already tried it on the retail trade industry, after buying a Macro, one retail chain that once very famous in Indonesia.

“Their interests are to increase the investment capacity in Indonesia so extraordinary. This is shown by the presentation delivered in Seoul today,” said Head of Investment Coordinating Board (BKPM) Gita Wirjawan in Seoul, South Korea, Wednesday (02/16/2011) , after attending the Joint Ministers Meeting between South Korea and Indonesia.

The Indonesian delegation was led by Coordinating Minister Hatta Rajasa, while from South Korea was attended by Minister of Science and Economy Choi Joong-Kyung. The Indonesian delegation also consists of the Minister of Trade Mari Elka Pangestu, Minister of Industry, MS Hidayat, Defense Minister Purnomo Yusgiantoro, and Chairman of the Committee on National Economy (KEN).

According to Gita, the capacity of petrochemical plants that want to build Lotte in Indonesia is 700,000 tons to 1 million tons of plastic raw materials a year. Lotte does not demand excessive incentives because they already have a base petrochemical business after buying a petrochemical company from Malaysia.

“In addition, Lotte also intends to continue to develop its retail business in Indonesia by opening new stores. In addition, Lotte is also interested in developing its hypermarket business and fast food restaurants on the basis of typical Korean food, yes sort of McD with Kimci,” he said .

Leader of IMF Dominique Strauss-Kahn suggested that China’s currency and other developing countries added to the reserve assets to promote stability in the global monetary system.

Strauss-Kahn, managing director of the International Monetary Fund 187 member countries, said on Thursday (10 / 2), expanding the role to the special currency the IMF can help to improve the monetary system in the face of the destructive volatility.

Noting the only way to survive in the world financial crisis in 2008 through the extraordinary cooperation of international policy, he warned: “Global imbalances have been returned.”

Issues of concern prior to the crisis is huge and volatile capital flows, exchange rate pressures, excess reserves are growing rapidly – are on the front burner once again, said managing director at an IMF panel discussion about international monetary reform. “If the problem is left unchecked, these problems could sow the seeds of the next crisis,” he warned.

Such reforms would help address the root of global imbalances and strengthen the system’s ability to prevent future crises.

“When we worry about the shortcomings of the international monetary system, we are most concerned about volatility: the feeling that sometimes the money flowing around the world shows too volatile, and that countries need a more stable, the external environment is more predictable in order to better results profitable, “said the former French Socialist finance minister that.

Strauss-Kahn warned that the IMF has worked to limit volatility through several approaches: the strengthening of economic and monetary policy coordination, improved oversight of capital flows and improve the financial safety net for the member countries in need.

Under the mandate of the Group of 20 developed and developing countries, representing about 90 percent of output (GDP) global, the IMF has launched a joint assessment process which takes into account the global effect of the level of state policy.

Do not think because your resume great, perfect CV, there is a reference from a close friend of HRD for you and guarantee your entry into the workplace. There is one thing that is important; your body language during the interview can also make you not be called again for further processing.

Limp handshake, eye “the streets”, and hand tapping on the table during the interview are some things that can cause you to employment are not accepted. Although this sort of thing you might do it accidentally, when the interviewer capture this kind of negative nonverbal communication, he could be canceled to receive your work in his company.

The important thing is showing your confidence and professionalism. If you feel increasingly nervous during a job interview, know this is a normal thing. Practice how to speak in front of the glass, in a video, or with friends, or with a coach’s career up to you more and feel more confident.

Heather Krasna, in his book, Jobs That Matter: Find A Stable, fulfilling Career in Public Service said:

* Handshake is a close and confident without making the person who chaired hurt is a sign of confidence. Give a handshake with one hand only and swing to the up and down a little and only once. If your palms sweat, make sure you dry them before the interview begins.

* Distance and posture are also influential. When sitting on the bench, for the body in a state of well-built and slightly leaning forward, but do not bend. If you want to fold the stiff, put one above the other knee or cross your ankles. Alternatively, place both feet on the floor. Do not sit down while straightening legs or wide open. Note also how close you and the interviewer, including when standing. Too close to be considered impolite.

* Hand and arm is the one that makes the body language looks excessive. If you are the type of person who likes to talk using your hands, try a little resistance. May be used if it wanted to clarify something, but do not let that hand movement to distract the interviewer. Sat with arms crossed on his chest will also give the impression of defensiveness. Try to give the impression that you are open to the interviewer. Do not also play with your hair or pen, or biting nails.

* Eye contact is also important. Notice the eyes of the interviewer, but do not be frightened him staring at you. Staring at the floor or other areas to give the message you are not confident or feel confused. Rotate the eye upward will be considered as a sign of disrespect. Face-to-eye occasionally and in moderation, especially when he spoke.

* Expression of friendly faces will reflect that you are a person who can be invited to work together and will work enthusiastically proposed. Smile pretty friendly at the beginning of the interview and to taste the interview was over. Rarely smiles will make people rethink interview to receive you.

* Following the style of another person who was before him (mirroring) can kill your chances accepted. Imitate motion posture, expression, tone, and others from the interviewer though it is fun and casual people, will not make you welcome. Be professional!

Clashes between supporters of Egyptian President Hosni Mubarak and his opponents shook the United States stock market on Wednesday (02/02/2011) local time. The reason, traders worried about the increasing instability in the region. “Those who are optimistic about Egypt and the risk of transmission should rethink their position,” said David kotok of Cumberland Advisors. “We are seeing signs of infection in Jordan, Yemen and other countries,” he added.
Index of blue-chip Dow stocks raised very slightly, rising 0.02 percent (1.81 points) to 12,041.97 at close, ended Tuesday above 12,000 points for the first time since June 2008. But the broader S & P 500 fell 0.27 percent wider (3.56 points) to 1304.03 and the Nasdaq technology index fell 0.04 percent (1.03 points) to 2750.16.
Television describe and report on the bloody clashes in the capital city of Egypt, causing traders to review their initial reaction to curb unrest in the Middle East. “We expect more violence,” said David.
“We do not know how this will change. We have no estimate eventually spread .. We do not know how much economic damage that will be witnessed in global markets and a new start with the global economic recovery,” he added.
Egypt’s Suez Canal where the vital and strategic in the center of the oil-rich Middle East.
Unrest in Egypt overshadowed positive data released Wednesday morning that showed a private company in the United States added 187,000 jobs in January, starting this year with an increase in major industries.
Meanwhile, airline stocks battered in the last round of bad weather in the United States, which has resulted in thousands of flights canceled.  Delta Air Lines fell 3.7 percent and American Airlines fell 2.1 percent.
Ford, which has factories in areas badly affected, showing the price of its shares fell three percent, helped by the analyst lowered earnings estimates that car manufacturers.
The bond market fell, with the yield on 10-year Treasuries rose to 3.49 percent from 3.44 percent on Tuesday, while 30-year bond rose to 4.64 percent from 4.61 percent.

G20 considered able to provide effective collective responses in order to overcome the worst crisis ever since the 1930 crisis.

This year, the G20 should finalize efforts aimed to quell the crisis, which had been planned previously, and extend its activities into other areas, in order to promote stability and prosperity in a sustainable world.  At the end of the G20 group of high-level conference held in Seoul, South Korea, last November, France has taken the leadership of the G20 group, and since January 2011, France also became chairman of the G8 group for one year to the next.

For that French President Nicolas Sarkozy has release the French leadership priorities expressed in the G20 as follows:

1. Coordinate economic policies and reduce the global macroeconomic imbalances.

G20 which represents 85 percent of the world economy is a very important forum for coordination of economic policies and longer term.

In addition to its role in facing the development of the actual situation, the G20 has designed a framework of strong growth, sustainable and balanced, which aims to redirect national strategies that are more favorable to global economic growth.

France will continue these efforts this year, including by monitoring the implementation of commitments taken at the Summit
Seoul.

In the summit, each country agrees G20 implement policies tailored to the conditions of their respective countries, in order to reduce macroeconomic imbalances and promote global growth.

2. Strengthening financial regulation
France considers the effective supervision of the implementation of the rule set G20 is very important for improving the supervision of the financial sector in a sustainable manner.

French leadership will also be utilized to enhance the action of G20, in areas that do not have adequate rules, such as the field of regulation “shadow banking sector” (parallel banking activities, which have not been regulated until now) as well as integrity and transparency of financial markets.

3. Reforming the international monetary system (IMS)
This last period marked the high volatility of currencies, the accumulation of imbalances, and the search for an increasingly high international reserves by countries new economic powers, which at times can be faced with the withdrawal of international capital on a large scale.

France wants to give collective answers for these deviations, in order to avoid the increasingly wide global economic imbalances.

4. Reduce the price volatility of raw materials
G20 to discuss the problem of raw material price fluctuations are excessive for the first time at the Summit Pittsburgh, November 2009. But until now, very few concrete policies that have been taken.

France wants to find solutions together to dampen price volatility of raw materials, especially agricultural products, which affect global growth and threaten the food security community.

5. Improving global governance
Our economy requires a renewed international institutions to be able to manage globalization effectively. France will seek to strengthen the role of G20 as the primary forum of economic cooperation, strengthening the coherence of action of international institutions, whether economic, social, and environmental, as well as identify problems that are still not handled properly.

Synergies between the G20 and the United Nations would also be enhanced.

6. Acting for development
G20 which represents 85 percent of the global economy and two thirds of the world’s population currently appears as a relevant forum, to offer concrete solutions to the problems of development.

Seoul Summit last November marked the stages of determining, by the adoption of the first action plan of the G20 in the field of development. France is determined to increase the priority under his leadership.

Oil prices rise in Asian trade Wednesday, with crude oil Brent “pierce the range of 102 dollars per barrel. According to analysts, the rising price of black gold that triggered uncertainty of the situation in Egypt has been continued increase declining interest of investors.

New York’s main contract, for crude oil, light sweet March delivery rose two cents to 90.79 dollars and the position of crude oil Brent North Sea “also in March delivery rose 25 cents to 101.99 dollars per barrel.

The chaos in Egypt have pushed crude oil prices “Brent” above 102.08 dollars per barrel on Tuesday, its highest level since September 2008 after the bankruptcy of Lehman Brothers brought the financial markets into a slump.

Egypt is not the leading crude oil producer but is the location of the Suez Canal which is very important to drain 2.4 million barrels of oil per day, equivalent to Iraq’s oil production or Brazil. “Concerns about the uncertain situation in Egypt, there will be a major factor influencing current oil prices,” said Yu Yingxi, commodity analyst for Barclays Capital in Singapore.

More than one million people took part in anti-government demonstrations in Egypt on Tuesday, the protests that have entered the eighth day which aims to overthrow the Egyptian President Hosni Mubarak.

Investors are worried that similar demonstrations – which also occurred in Tunisia, Yemen and Jordan – to spread around the oil-rich region.

Nile River became the center of trading activities Egyptian society. Centralized economy it inherited from President Gamal Abdel Nasser. However, in the last 30 years, the government has succeeded in reforming the economic policy there.

The World Bank report shows, in recent decades Egypt has experienced remarkable progress in the provision of infrastructure in all sectors, including transportation, telecommunication, power generation, and water and sanitation.

The Egyptian government has cut subsidies, reduce inflation, cut the amount of taxes and liberalize trade and investment during economic reform, since 1991. The process of reform and privatization has begun to increase opportunities for the private sector. Agriculture has been privatized, but the regulations remain the road, except on cotton and sugar. Construction sector, non-financial services, and wholesale and retail trade in the country largely controlled by the private sector. This makes Egypt’s growth rate stable. In the last quarter century, at least in the country located in West Asia and North Africa is growing 4-5 percent, including in 2009, which grew 4.7 percent.

Due to successful diversification, gross domestic product (GDP) increased by 7 percent per year. Notes the World Bank, Egypt’s GDP in 2009 stood at U.S. $ 188 billion, with a population of 83 million.

Meanwhile, reports the International Monetary Fund (IMF) launch, GDP per capita based on purchasing power parity (PPP) increased fourfold between 1981-2006, from U.S. $ 1,355 in 1981 to U.S. $ 2,525 in 1991, U.S. $ 3,686 in 2001, and to U.S. $ 4,535 in 2006.

With an average economic growth was relatively high, Goldman Sachs has characterized Egypt as one of the world’s new economic giant candidates in 2050. Goldman Sachs popularized it in the report “Next11: Not Just an Acronym” which was released in 2007. Egypt will be the economic power together with Indonesia, Turkey, South Korea, Mexico, Iran, Nigeria, Philippines, Pakistan, Vietnam and Bangladesh.

Indeed, the number of poor people in Egypt also continues to decline. In 2009, the population of poor people continues to fall from 22.9 percent in 1996 to 16.7 percent in 2000, and 14 percent in 2009. While the unemployment rate in 2008 was 8.7 percent.

The lowest unemployment rate ever achieved in 1999, namely 8.1 percent. In the last 10 years, the highest unemployment rate in 1995, as many as 11.3 percent.  Egypt’s foreign debt reached 17.6 per cent of gross national income (GNI). These numbers continue to fall from 89.1 percent in 1991.

U.S. dollar drops against other major currencies on Tuesday (02/01/2011) local time, reaching a three-month low against the euro, because the United States manufacturing data that is strong enough to encourage risk taking.

European currency traded at 1.3831 dollars around 2200 GMT, Wednesday (05:00 GMT) rose sharply from 1.3686 dollars at the same time Monday in New York. That is the highest peak of the euro against the greenback since November 11. U.S. Dollar fell to the lowest one-month high against the Japanese currency, at 81.33 yen, down from 82.04 yen on Monday. “The U.S. dollar slammed by risk put back after more positive manufacturing data – this time out of the U.S.,” said analyst Forex.com in a client note.

Institute for Supply Management said Tuesday purchasing managers index rose to its highest level since 2004, the jump is much stronger than anticipated and marked the expansion of 18 months in a row. “This shows that manufacturing in the U.S. has accelerated at a faster rate than expected and continue the positive trend of the manufacturing PMI (number) of overnight visits in Europe and the UK,” said analysts at Forex.com.

Bond yields countries surrounding the euro zone fell on Tuesday in what the dealers say greater interest by investors in taking additional risks. “There is appetite for risk,” said BNP Paribas strategist Patrick Jacq debt, noting that stocks and bonds in the euro zone countries vulnerable.

“There are more confident that a positive resolution of the debt crisis of the euro zone,” he added.

In late New York trading, sterling was at 1.6133 dollars, up from 1.6016 dollars late Monday. U.S. dollar dipped to 0.9352 Swiss francs from 0.9443 francs a day earlier.

Shares in U.S. stock investors back into the target. Conditions that make the Dow Jones Industrial Average closed above the level of 12,000 for the first time since June 2008.
A number of positive sentiments that affect the movement of U.S. exchanges including the following: increase the level of Chinese manufacturing and performance of United Parcel Service Inc. (UPS), which exceeded analyst predictions.
The shares are listed affects the movement of the stock are: UPS rose 4.2 percent, Freeport-McMoRan Copper & Gold Inc. and Alcoa Inc., with respective increases of 4.5 percent, Pfizer Inc. rose 5.5 percent and Bank of America up 4 , 2 percent.
The number of shares which closed in positive territory makes U.S. stocks shot. At 16.00 hours New York time, the S & P 500 up 1.7 percent to 1307.59. This is the highest spike since 1 December. Meanwhile, the Dow Jones index added 1.3 percent to 12040.16.
“We have a lot of data showing the existence of sustainable economic growth. The performance is very good company as well as China’s manufacturing strength, although the local government is struggling to control inflation. When compared with cash and bond funds, stock markets have been very cheap,” explained Matthew DiFilippo, Director of Research Stewart Capital Advisors LLC in Indiana.

World oil prices are above the range of 100 dollars per barrel in Asian trade on Tuesday (01/02/2011), amid fears the situation in Egypt that would disrupt oil supplies through the Suez Canal.

Egypt is not the world’s major oil producers, but it is a place of the Suez Canal is very important to drain 2.4 million barrels of oil per day, equivalent to Iraq’s oil production or Brazil.

New York’s main contract, the price of light sweet crude for March delivery fell 22 cents to a position of 91.97 dollars per barrel, while the price of Brent North Sea crude oil for delivery in March fell also 57 cents to 100.44 dollars per barrel, even had touched 101.73 dollars overnight, its highest level since October 2008.

In trading Monday (1/31/2011), on the London stock exchange, ICE Brent oil price for the March contract closed up 1.59 U.S. dollars per barrel to a position of 101.73 dollars per barrel. While the price of WTI light sweet oil in New York for March delivery rose to 2.85 dollars to 93.19 dollars per barrel.

“For Brent, we still can see the tendency of prices to rise again … if the tension continues. This will continue to give a boost to oil prices,” said Ong Yi Ling, investment analyst at Phillip Futures in Singapore.

However, a sharp rise in the oil market will eventually be impeded by “many parties are worried that high prices might be a threat to economic recovery,” said Ong.