| DGCX secures Singapore approval
Dubai: The Dubai Gold and Commodities Exchange (DGCX) yesterday announced that it had secured approval from the Monetary Authority of Singapore (MAS), making DGCX a Recognised Market Operator (RMO) in Asia's key trading hub. With the approval, DGCX - the Middle East's first commodities derivatives market - could now offer Singapore-based market participants direct access to its growing portfolio of commodity and currency contracts. Commenting on the approval, Ahmad Bin Sulayem, chairman of DGCX, said, "Not only will this approval create opportunities for market participants based in Singapore, but is a clear demonstration of our commitment to meet customer demand for wider marker access". .
Mike Luckovich
Gold chains. Tennis bracelets. iPods. Computers. Big-screen flat TVs. -Whiny Times}}}} It looks to me like the same losers that have failed in this booming economy also seem to have a bling problem. They see bling, they buy bling. With a credit card no doubt. Will Ku Klux Rodham freeze the bling payments for these dimwits? .
Lackluster Reports Leave Stocks Mixed
Not all economic findings that arrived Friday portended further weakness but, over all, investors seemed unimpressed. The nation's central bank said that industrial output showed a modest increase last month, as expected, largely because of strength from utilities. But investors remain worried that consumers who are uneasy will be reluctant to open their wallets _ an alarming prospect as consumer spending accounts for more than two-thirds of economic activity. Comments from Bernanke on Thursday outlined the concerns. The Fed chief issued a sobering but not entirely unexpected prediction that economic growth in much of 2008 is likely to be "sluggish" before gathering strength later in the year. He told the Senate Banking Committee that further losses were likely at banks from soured mortgages.
Windfalls would aid infrastructure, Dion says
I hope the debtors will write off all those debts since it will take Canada almost 100 years to pay off everything. It's like why no spacecraft has ever travelled to Pluto since there's no point and will need to travel faster than the speed of light. Posted 15/02/08 at 9:35 AM EST | Alert an Editor | Link to Comment .
A Neolib New Deal?:
For example, the government could undoubtedly use its monopsony power to lower the price it pays for drugs--maybe lower the price to something approaching the marginal cost of producing additional pills. It's not at all clear, however, that this is the price we should want to pay, because it does little to fund research and development costs of developing both the existing drug and new drugs. See Michael Kinsley's analysis here. Paying medical providers enough to fund future advances will be very expensive. 4) Yglesias writes The significant financial challenge has to do with covering the bills for old people, but that challenge exists one way or another thanks to Medicare (and the basic reality that senior citizens are largely uninsurable in the private sector) and has relatively little to do with whether or not we can afford to bring universal coverage to the under-65 crowd.
Bosses 'condoned' SocGen trader
Societe Generale announced trading losses last month of more than $7.2 billion, which it attributed to fraud by Kerviel, who traded European index futures for the bank. "When you find that the bank condoned what Jerome did for more than two and a half years, I don't really know if you can still state that he acted alone," Selnet told CNN. Kerviel has been charged with abuse of confidence and illegal use of computers but has not been charged with fraud. He faces up to three years in prison. .
Mason says 'few' jobs will be lost
"Few" jobs will be lost as a result of the agreement announced yesterday between Citigroup Inc. and Legg Mason Inc., Legg Mason CEO Raymond "Chip" Mason said yesterday.
In fact, Citigroup may open an operations center in Baltimore, Mason said in an interview - though he said the final decision would be Citigroup's. A Citigroup spokeswoman declined comment.
Citigroup's consumer lending division, CitiFinancial, has a large presence in Baltimore.
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