Riffrag Business & Finance Report

SYDNEY – The Australian Government yesterday announced the economic growth during 2009 reached 2.7 percent. The data confirm the continued recovery after a global economic conditions gradually improved.

Government released data better than analyst projections that forecast growth over the past year only 2.3 percent. According to the government, the growth of a country rich mineral resources is driven by the stimulus and the sale of commodities to China. Special three months until December 2009, sales of Australian commodities rose 0.9 percent, the fastest since March 2008.

Australian Finance Minister Wayne Swan said, at each quarter over the past year the State’s economy Kangaroo always record a positive result.

“Australia is an exception in the other countries devastated by the global economic crisis. During the worst crisis in 75 years we are not only growing but also very solid, “said Swan, yesterday.

Solid Australian economy is also indicated by the courage of Australia Central Bank (Reserve Bank of Australia / RBA) raised interest rates four times since October last year lalu.Terakhir, Tuesday (2 / 3), the RBA raised interest rates from 0.25 percent previously 3.75 percent to four percent. “The fact we were growing economy in 2009 while other countries fell,” he said.

In comparison, last year the economic growth of the United States (U.S.) contracted 2.4 percent, while the other developed countries such as Germany and Japan to minus five percent.

Commonwealth Bank analyst Michael Blythe said, growth in Australia to give the signal to return the economy to foster that encouraged private enterprise activity that can take advantage of the stimulus funds to USD63, 2 billion.

“Public Expenditures also grew 7.4 percent in 2009 and contributed 1.7 percent of GDP growth (Gross Domestic Product),” Blythe said.

“The treaty will not apply because the January 15 as previously planned because the government of China’s internal work,” he said in a television broadcast without mentioning the reason lain.Menlu Jose Garcia Belaunde said that it will be announced soon.

Last week the Peruvian Trade Minister Martin Perez said that the agreement, signed in April and ratified last month, will be effective January 15, 2010, two weeks earlier than scheduled.

The deal will bring major changes to the tariffs of more than 90 percent of goods from China electronic products to the machine until the minerals and fish products Peru, Xinhua news agency writes.

Based on this agreement, the two countries also pledged to further open service sector and give them a good service to investors.

China has become the largest trading partner to two of the mineral-rich Peru after the United States.

While Peru is one of the producers of copper, tin and gold.

The bilateral trade value to the two countries reached about 6.46 billion U.S. dollars in the first 10 months of last year, according to figures published by the Ministry of Commerce of China.

Exports of Indonesian coal would have jumped 13.71% to 199 million tons in 2014 from an estimated 175 million tons this year, adjusting to the increasing demand for energy resources in the global marketplace.

So said Director General of Mineral, Coal, and Geothermal (Minerbapabum) Ministry of Energy and Mineral Resources, Bambang Setiawan today as quoted by Bloomberg.

In addition to the export market demand is soaring, he also predicted coal demand in the domestic market will rise from 75 million tons this year to 110 million tons in 2014, up 46.67%.

In addition to volume increases, coal prices also continued to rise, especially in the last month. Indonesia as one of the country’s largest coal exporter national potential of this benefit.

Based on data GlobalCoal, coal prices for the January 1, 2010 in Newcastle, Australia, located at the level of U.S. $ 84.75 per ton. This price is lower than the previous week on December 25, 2009 at the level of U.S. $ 86.00, but still higher than the selling price average in December which amounted to U.S. $ 81.85 per ton.

Prospects for coal prices pushed energy shares are booked based on profits. Shares of PT Bumi Resources Tbk rose 1.87% or Rp50 to the level at Rp2.725 this afternoon, with transaction value of Rp1, 4 trillion.

Shares of PT Adaro Energy Tbk suffered the same fate, rose 1.12% or Rp20 be Rp1.810, followed by shares of PT Indo Tambangraya Megah Tbk which rose 0.30%, or Rp100 a Rp33.400. Then, the shares of PT Tambang Coal Bukit Asam Tbk surged 2.25%, or Rp400 a Rp18.200.

Increase in number of coal-based shares are held joint-stock price index (JCI) from falling further. At 15:07 o’clock time JATS closed down 0.12% or 3.05 points to 2602.23 level than the opening position at the level of 2605.48.

The price of crude oil on the New York Mercantile Exchange fell on the second day following the cold weather prediction in the eastern U.S. will subside this week, so potentially cut demand for heating oil.

EarthSat Energy Weather of MDA Federal Inc., institution forecaster, predicts above-normal temperatures will begin to move to the cities in the eastern United States such as New York and Boston this week.

National Weather Service said temperatures average in New York in the first 10 days of this year reached 27 degrees Fahrenheit or minus 3 degrees Celsius. The temperature was 6 degrees below normal.

Northeastern United States is heating oil consuming region at most, four-fifths of the country’s consumption level. ASS itself is the largest oil consumer in the world.

Weather forecast raises speculation declining level of demand, thus pushing the oil prices fell on the second day of trading. “According to weather forecasters, the cold temperatures in the U.S. seems to have subsided. For heating oil and distillate oil demand could be reduced in the weeks and months ahead,” said Ben Westmore, energy and minerals economist at National Australia Bank Ltd., based in Melbourne , Australia.

The price of crude oil contracts for February delivery on the New York Mercantile Exchange fell 53 U.S. cents, or 0.6% to U.S. $ 81.99 per barrel. This contract is traded on the level of U.S. $ 82.13 at 8:33 AM Singapore time yesterday. The price of this futures contract fell 23 cents, or 0.3% to as low as U.S. $ 82.52 per barrel yesterday.

Previously, this oil futures touched $ 83.95 U.S. level, which is the highest level since October 14, 2008. Terdongkrak oil price data of a report mentioning China, as the second largest oil consumer world, to boost the purchase of oil to penetrate the record last year. In addition, oil prices also rose because the dollar weakened against the euro. U.S. dollar always move opposite oil prices.

UK retail sales grew 6% in December last year driven by a rise in the number of products, such as food.

Data from the British Retail Consortium and KPMG showed sales increases for food products in the October to December 2009 reached 4.4%. Sales in December is the highest figure since June last year.

Sales spike also occurred in the product category nonmakanan. Winter trigger the growth of purchases of clothing and footwear products.

The increase also occurred in other household products that consumers hunted for Christmas.

Sales outside of retail store network, such as ordering via the Internet and telephone is also seen increases for products other than food, jumped to 26.5%. Snow stopped herself buyers to visit the store.

As a result many consumers who choose to order the desired products without ever leaving home. In the last month, sales outside of retail stores for nonmakanan products grew by 16.9%.

Sharon Hardiman, Head of Non-Store Retailing British Retail Consortium, said that the current sales outside the store contributed only 4% of total retail sales.