| Shipping chief denies key role in collapse of dry bulk rates
One of the most controversial figures in world shipping markets has denied playing a pivotal role in the past few weeks' decline of dry bulk shipping rates, saying it resulted from fundamental market changes. Nobu Su, whose privately held Taiwan Maritime Transport is the largest participant in shipping futures markets, responded to the suggestion through a London-based spokesman. .
POWER TRANSFER Economic Reckoning Looms In Argentina's Election
Shell's problems started in 2005 when it raised pump prices in line with rising international oil prices. Mr. Kirchner immediately used his bully pulpit to call for a boycott of Shell, urging Argentines to refrain from buying "even a can of oil." The company quickly rescinded a gasoline price increase after pro-government protestors marched on its service stations. Things got hotter for Shell last December when the government accused it of failing to stock sufficient supplies of diesel fuel. Using the 1974 antihoarding law promulgated under Mr. Perón, Mr. Moreno has levied fines of almost $20 million against the company and sought jail time for the company's local president, an Argentine citizen. Shell, which says it did nothing wrong and is contesting the charges in an Argentine court, maintains it is being singled out for harsh treatment.
Dubai wants to launch world's first tea futures contract
Dubai: Dubai wants to launch the world's first tea futures contract if it finds favourable response among major tea producers and other key industry participants, officials said on Tuesday.
They argued that international tea trade will benefit from a "well-functioning futures market" as it would provide a good pricing guidance for the commodity. "If there is a possibility of a successful tea futures contract, then Dubai might be the place for it since we are ideally positioned between the tea producing and major consuming countries," Dubai Multi Commodities Centre chief executive officer David Rutledge told Gulf News. However, experts said it would not be easy to create a benchmark for a tea futures contract because of the wide variety grown in various countries.
Rock rescue explained
At the end of the year, the bank has £105. Where did the extra £5 come from? Only from a further bank loan, or from a loan from somebody else who has gone into debt. Sooner or later this system has to be 'adjusted', either by inflation( which effectively cancels debt) or by borrowers going bankrupt (the debt is cancelled as unpayable), or by the bank going the same way( too many unpayable debts counted as assets). Can the estimable Robert Peston please tell me if i have this right? .
Revamped STI offers greater opportunities
Wednesday's launch of a new slimmed-down Straits Times Index for the Singapore Stock Exchange is likely to increase opportunities for the creation of more structured products, such as index warrants and exchange-traded funds. The revamped STI will include only 30 stocks, down from 47, and will be accompanied by 18 other sector indices, up from 12. .
Exhibit to kick off DUSP 75th-anniversary celebrations
A series of events to celebrate the 75th anniversary of MIT's landmark Department of Urban Studies and Planning will kick off with an exhibit in the Wolk Gallery, opening Tuesday, Feb. 12. The show, "Changing Cities: 75 Years of Planning Better Futures at MIT," uses archival, graphic and multimedia materials to portray the evolution and influence of the department in academic and practical spheres. It will continue through April 11. Over the past seven decades, the department has gained renown for pioneering new ways to analyze and enhance the physical form of cities; for embracing the social sciences in planning; and for expanding research to include studies of comparative planning and development practice around the world. "Changing Cities" chronicles changes within DUSP as it has engaged with the scale and pace of urbanization in the larger world.
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