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Posts Tagged ‘Weak’

Weak pharmacy, unreasonable bidding procedures cause skyrocketing medication prices

In Uncategorized on November 22, 2010 at 10:14 am

Euro down, stocks weak as Europe meeting reaches no deal

In Uncategorized on May 18, 2010 at 9:06 am

HONG KONG, May 18, 2010 (AFP) – The euro was back under pressure on Tuesday and Asian markets were lacklustre as a eurozone debt crisis meeting failed to reach a deal on a trillion-dollar rescue fund.

Eyes were on Brussels where finance ministers of the 16 euro member states are trying to agree funding arrangements for the bailout for struggling economies, which many fear may not be enough to prevent a financial meltdown.

However, despite seven-hour negotiations on Monday they had still not finalised an agreement and said they would reconvene on Friday.

The news weighed on the euro, pushing it down to 1.2356 dollars in Tokyo morning trade from 1.2394 dollars in New York late Monday where it had slightly rebounded from its low of 1.2234 seen earlier in the day.

“The market simply doesn’t want to buy the euro. Confidence on the euro will not be restored” until the fiscal crisis in Greece and other countries is resolved, said Credit Suisse strategist Satoru Ogasawara.

Hong Kong rose 0.36 percent by the break.

Tokyo was flat, edging up 6.88 points to 10,242.64 after it hit an 11-week low Monday, helped by a slight pick-up in the euro against the yen, which helped exporters.

The European unit sank to 114.17 yen from 114.79 yen in New York but was higher than the 112.80 it was at on Monday.

Dealers are concerned that a default in Greece, which is mired in severe fiscal problems, would hit the financial system in the same way the collapse of Lehman Brothers did in 2008.

They are also worried that austerity measures brought in by several under-pressure countries to rein in their debt will crush European growth.

“The support package cobbled together by EU governments and the IMF may have averted a near-term sovereign debt crisis,” said Capital Economics in a research note.

“But it is conditional on massive fiscal consolidation (and structural reform) that may ultimately prove too much for the electorates of some member states in the eurozone to bear.

Shanghai fell 0.70 percent, extending losses on the euro crisis as well as persistent worries over further tightening measures in the mainland real estate sector, dealers said.

The key index lingered at more than a one-year low after plunging 5.07 percent in the previous session. The market has lost nearly 30 percent since the beginning of 2010.

“Investors don’t dare to hunt for bargains,” Zhang Qi, an analyst at Haitong Securities, told Dow Jones Newswires.

“The government didn’t stand up to say something comforting after the Shanghai market fell to a more than one-year low yesterday.”

Singapore was flat.

Gold opened at 1,225.00-1,226.00 US dollars an ounce in Hong Kong, down from Monday’s close of 1,234.00-1,235.00 dollars as dealers sell the precious metal after it hit record highs last week.

Oil was higher. New York’s main contract, light sweet crude for delivery in June, added 58 cents to 70.66 dollars a barrel. The contract briefly plumbed to 69.27 in the US Monday, its lowest level since October 5, 2009.

London’s Brent North Sea crude for July was up 78 cents at 75.88 dollars.

In other markets:

— Seoul closed 0.50 percent, or 8.27 points, lower at 1,643.24.

— Manila closed 0.74 percent, or 24.24 points, lower at 3,265.07.

Metropolitan Bank and Trust fell 0.87 percent to 57 pesos, but First Philippine Holdings bucked the trend, adding 0.90 percent to 56 pesos.

— Taipei fell 0.18 percent, or 13.42 points, to 7,585.30.

United Microelectronics Corp was 1.35 percent lower to 14.7 Taiwan dollars while Hon Hai was flat at 141.0.

— In Sydney, the benchmark S&P/ASX 200 ended up 0.08 percent at 4,470.7 after spending most of the day in negative territory.

— New Zealand shares closed 0.60 percent lower Tuesday as weak global sentiment continued to weigh on investors.

The benchmark NZX-50 index fell 19.07 points to 3,151.68.

“Global concerns are weighing on the market still,” said Craigs Investment Partners senior dealer Bryon Burke.

Infrastructure investor Infratil fell a cent to 1.67 dollars despite turning around its results in the year to March to post a 29 million dollar (20 million US) net profit following the previous year’s 191 million dollar loss.

Wellington fell 0.60 percent, or 19.07 points, to 3,151.68.

Telecom ended unchanged at 2.07 New Zealand dollars, discount retailer The Warehouse fell 2.2 percent to 3.49 and Kiwi Income Property fell 1.0 percent to 96 cents.

Source: SGGP

OPEC warns of weak recovery for oil market

In World on December 23, 2009 at 11:33 am

The OPEC oil producers’ cartel warned of lingering weakness in the world economy and held its emergency crude output quotas unchanged at its meeting in Angola on Tuesday.

Delegates at the meeting also said that growing output from Iraq’s recovering oilfields, which observers say will become a major concern for its fellow producers, was unlikely to have an impact for several years.

Tuesday’s meeting capped a year of recovery for oil prices, which have more than doubled since quotas were cut a year ago to stabilise the market during the economic crisis that crippled demand for petroleum products.

Saudi Oil Minister Ali al-Naimi, representing the cartel’s most influential member, said crude price levels, which have been hovering around 75 dollars, were “perfect.”

Jose Maria Botelho de Vasconcelos, President of the OPEC Conference and Angolan Minister of Petroleum

But the powerful grouping of Middle Eastern, African and Latin American oil countries in a statement expressed “great concern” for the world economic outlook, which threatens to weaken demand for their key exports.

“Although asset market prices have rebounded and economic growth has resumed in some parts of the world, it is not yet clear how strong or durable the recovery might be,” they said in a joint communique.

“With the world still faced by shrinking industrial production, low private consumption and high unemployment, the conference once again decided to maintain current oil production levels unchanged for the time being.”

Observers had said ministers at the meeting would have one eye on Iraq’s recovering oil industry and its ambitious plans to ramp up its production to levels that could rival Saudi Arabia, the world’s biggest oil producer.

But Iraqi Oil Minister Hussein al-Shahristani and others played down the prospect of a surge from Iraq’s oilfields, saying the question of quotas for Iraq was unlikely to be tackled in the immediate future.

The cartel’s Secretary General Abdullah El-Badri told reporters after the meeting: “I don’t expect any production increase (by Iraq) before five or six years,” but added that one day, “I am sure we will accommodate Iraq.”

Iraq is currently exempt from the cartel’s system of quotas, but recently signed contracts with several foreign companies to start pumping crude oil, aiming to expand the industry as it recovers from war.

A consortium led by top Chinese oil company CNPC initialled another deal with Iraq on Tuesday, to develop the Halfaya oil field in southern Iraq, oil ministry spokesman Assem Jihad said.

OPEC members called for higher compliance with the quotas. The group’s current president, Angolan Oil Minister Jose Botelho de Vasconcelos, said even non-OPEC countries should play their part to “balance the market.”

Tuesday’s OPEC meeting was the first to be hosted by Angola. The country joined OPEC in 2007 and has overtaken Nigeria as Africa’s biggest crude producer, according to the International Energy Agency, but it still suffers from three decades of civil war that ended seven years ago.

The 12-member group is next due to meet on March 17, when the presidency will have been taken over by Ecuador.

Oil prices fell slightly on Tuesday after the OPEC members’ decision. New York’s main futures contract, light sweet crude for delivery in February, fell 32 cents to 73.40 dollars a barrel.

Source: SGGP Bookmark & Share

Weak scientific research generates marginal income

In Social life on October 26, 2009 at 4:04 pm

Weak scientific research generates marginal income

QĐND – Monday, October 26, 2009, 20:44 (GMT+7)

The income universities receive from scientific research and technology deals account for only 3.92 percent of the total financial resources of universities.

Associate Professor Dr Ta Duc Thinh from the Ministry of Education and Training’s Science and Technology Department observed that the ratio of income from scientific research and technology transfers with the total investment in scientific research between 2006-2008 was 1,784,386 million dong/1,200,485 million dong.  

Polytechnical universities (Hanoi University of Mining and Geology, Hanoi University of Technology, Civil Engineering University, Hanoi and Dalat Industry University) led in earning money from technology transfers with a ratio of 77.28 percent. Economics universities (Trade University, University of Foreign Trade) had the lowest ratios, even with large budgets for scientific research. Scientific research income came primarily from international cooperation instead. 

The low efficiency of scientific research has been attributed to the “weak force” of leading scientists, inadequate facilities and impractical research projects. 

Questions have been raised about how universities can increase income from scientific research. 

Dr. Dao Van Dong from the Hanoi University of Transportation, explained that universities face great obstacles in obtaining financial support. Projects often cannot meet production utilization requirements and therefore, Dong stated, it is necessary to provide good scientific ideas and skilled researchers. 

Dr Ha Thanh Toan, Deputy President of Can Tho University, revealed that, in the context of present economic difficulties, the university had to mobilize financial support from various sources, including cooperation with businesses and international groups. 

Toan claimed that universities always choose reasonable scientific research projects that are useful for local utilization.

Source: VietNamNet/NLD


Source: QDND Bookmark & Share