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SecureTrading Helps Companies Expand Abroad With Brace Of International Currency Solutions

SecureTrading helps companies expand abroad with brace of international currency solutions.

In an increasingly competitive domestic market, many UK retailers are seeking to expand overseas. Ecommerce Expo 2011 will see SecureTrading, the UK’s leading independent payment processor launch their Dynamic Currency Conversion (DCC) and Sofortüberweisung solutions to assist customers expanding internationally.

DCC allows credit cards holders to have the cost of a transaction converted to their local currency when making a payment in a foreign currency, so they instantly know the price, therefore boosting their propensity to buy.

DCC also enables retailers to generate new revenue from transactions they are currently accepting, because they can earn commission on currency conversion.

Sofortüberweisung allows customers to pay merchants from their internet bank account, again with the benefit of dramatically reducing the risks of chargebacks. Sofortüberweisung is widely used in Austria, Belgium, Germany (51.4%* of all Germans prefer to use Sofortüberweisung) and to a lesser extent the Netherlands and the UK.

Tim Allitt, Head of Sales & Marketing, SecureTrading, said, “Successful expansion in one country can be a springboard for further success elsewhere and it’s key to provide the right methods of payment in particular markets. By launching Dynamic Currency Conversion and Sofortüberweisung, SecureTrading is demonstrating its international credentials and helping its customers grow in new markets by providing them with the correct tools to do business.”

Via EPR Network
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Business Monitor International Warns Of China’s Economic Slowdown

Business Monitor International (BMI) has released the latest special report, “China 2012: From Miracle To Meltdown” outlining a case for a severe growth collapse in China driven by declining money supply growth rate, accelerating inflation and external slowdown with a threat of a double dip recession in the US.

According to BMI, the bearish outlook for China’s economy is more credible now than at any point in recent history. With China’s housing market exhibiting characteristics typically seen at the end of a bubble, a steep drop in house prices as developers offload inventory would pose a risk of a cash crunch to businesses operating in China, especially property developers and small and medium enterprises (SMEs). As the repayment capacity of loans given to local government investment vehicles increasingly comes under threat, BMI also expects a pronounced correction in investment spending and instability in China’s banking sector.

From banking sector exposure and weak fiscal and monetary position, the report also focuses on China’s consumer market and its ability to shoulder the burden of growth should Chinese export growth fall due to a weakening US dollar and lower import demand from the US and Europe.

Moreover “China 2012: From Miracle to Meltdown” assesses the impact of a Chinese hard landing on the regional economy. While no country would be immune from a Chinese hard landing, BMI argues that Australia is most precariously positioned to suffer the consequences of this severe economic slowdown. A Chinese hard landing would push the Australian economy over the edge, likely ushering in a recession and potentially triggering a financial crisis.

Given the importance of China to the global economy, the report enables global investors, strategists and decision-makers across the corporate spectrum to identify business growth opportunities, avoid market risks and aid strategic planning activities over the short, medium and long term.

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How To Sell Gold In Floral Park

Now is the best time to sell your gold since the prices are at a record high. Because of the high prices of gold today, there is also an increase in the number of gold buyers. Also contributing to the increase in number of gold buyers is the fact that it is easy to join the business these days. With the proper licenses, you can just set up show anywhere you like. You only need to have a license as a pawn broker or as a second-hand dealer to get started in the business.

But while it’s a good time to sell your gold – be it jewelry pieces or coins – there are gold buyers out there who are only out to make fast and easy money on you. Gold is an expensive item, and people will do anything to have a piece of it. Many gold buyers don’t have your interest in their mind. If you want to sell gold in Floral Park, be sure you know where the legitimate gold traders are.

The gold buy-and-sell business is simple and quick. Just go there and sell your piece of gold, get paid and leave. But that’s only when you don’t aim for the highest value for your gold piece. If you want best possible selling price of your gold, invest time and effort, don’t allow yourself to be taken for a ride.

One golden piece of advice you should heed is to avoid falling for infomercials that promise to make it easier for you. A tragic mistake many people make is to believe in these infomercials as if they are gospel truths and deal his gold without research into the prevailing prices of gold.

In fact, a piece of jewelry oftentimes carries a value higher than its gold content. A 100-year-old watch, for example, can guarantee you a price that is much higher than its gold content.

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Saxo Bank Continues International Expansion With New Office In Moscow

Saxo Bank, the online trading and investment specialist today announced the opening of a new representative office in Moscow in order to respond to growing demand by Russia’s sophisticated investor base.

The opening of the Moscow office is a strategic move by online trading specialist to strengthen and expand its position as a leading provider of online trading and investment solutions. The office will act as a broker boutique offering Russian investors a broad list of exchanges and instruments available through Saxo Bank’s award winning trading platform.

There have been promising developments in Russia this year, with retail sales growth accelerating in August reaching 7.8% year on year (y/y). Unemployment declined whilst real wage growth picked up to 3.9% y/y which has filtered through to every segment from discount to luxury. Consumers’ increasing maturity and sophistication has increased the HNW sector of the market and thus stimulated their risk appetite and desire for better returns, which fits Saxo Bank’s investor profile.

The Moscow office will be headed by newly appointed COO Igor Dombrovan, who said: “Sustainable success is driven by customer focus, and the new representative office will enable us to have greater access to clients in Russia. The Russian retail market has demonstrated solid growth rates over the last several years, making the sector one of the most actively developing markets in the economy. This has been fuelled by growth in the overall economy, growing consumption and an increasingly organised marketplace. The new office will enable us to further support and educate this growing market with its highly sophisticated investor base.”

Kim Fournais and Lars Seier Christensen, co-founders and CEOs of Saxo Bank, said in a joint statement: “While opening an office in Moscow is a strategic decision to support our European expansion and growth strategy, it has always been a priority for Saxo Bank. Russia has always been a good market for Saxo Bank because Russian clients are highly sophisticated investors. The new office will enable us to provide a more comprehensive on-the-ground service to clients and potential clients in the region.”

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ForexTrading.net Releases New Videographic on the Forex Market

ForexTrading.net, a new online forex magazine is aiming to keep users updated with all the latest happenings in the world of forex trading, through a videographic that has been published on the site.

The new videographic will give users of the site an overview of the forex trading market, and can even be embedded into users’ personal websites or blogs where it can be shared with other interested internet users.

Recent years have seen a number of changes in the forex trading market; not only has the number of people who trade in this manner shot up, but the way in which trading occurs is constantly evolving as well. For instance, in 2010 alone, cross-border trading transactions constituted 65% of trading activity. This implies the power of technology and its effects on the forex market.There has also been a rapidly growing disparity in algorithmic trading versus manual trading. In 2004, algorithmic trading only ranked at 2% of all trades, however in 2010 it comprised 45% of the trading share. Similarly the global foreign exchange market turnover was 20% higher in April 2010 than in 2007, with average daily turnover of 4 trillion USD compared to 3.3 trillion USD. As such, it’s very important for forex traders and internet users who follow the market to keep updated, and ForexTrading.net videographics will allow users to learn about forex in a manner that’s informative yet fun, and share their findings as well.

Nanna Arnadottir, editor at ForexTrading.net said: “The forex trading industry has some great news and commentary sites, but it can be a bit starved of interesting blogs with real quality content. That’s what we’re aiming for with ForexTrading.net, that and a bit of personality, which I think the videographic really provides.

It’s a fun way to take in a lot of facts and you can share it or post it on your own blog, so everyone is a winner.”

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TradingFloor.com Releases New Video Commenting On Eurozone Crisis

TradingFloor.com has released a new video featuring Steen Jakobsen, chief economist at Saxo Bank, warning that solutions to the Eurozone debt problems need to be found before the Cannes G-20 Summit in November.

The new video highlights the sense of urgency for a solution to Eurozone problems, which has increased with market reaction clearly indicating intolerance with the current pace of progress, especially of late concerning the ratification of the 21 July changes to the European Financial Stability Facility and a solution for Greece.

Jakobsen mentions that there are some significant steps to take these days like key Eurozone member votes on EFSF ratification. Despite previously strong opposition to further rescue measures for troubled Eurozone members, anything but ratification is unlikely, says Steen. The Slovenian and German parliament has already given its thumbs up with Finland and Austria expected to follow suit by the end of the week. Though once approved by all member states this supposed knight in shining armour will not be able to ride easily to the rescue of failing nations. Unanimous (not majority) votes are required for decisions – like expansions of the facility – to be passed.

Meanwhile, talk about the concept of a European Investment Bank leveraging on the EFSF to ring-fence European banks from any fallout from the EU debt crisis, is hardly seen as a band aid but rather a ploy which will hardly solve anything, according to Steen.

Steen likens Greece’s attempts at new austerity packages as an attempt to save the troubled nation at the goal line. With 99 per cent probability of default then talk of saving Greece is actually quite comical, he says. Meanwhile, austerity fatigue is apparent as evidenced by more strikes across Athens. Ultimately Greece needs debt forgiveness and a clean slate but a free-ticket to safety would hardly go down well with other troubled Eurozone nations. Nevertheless, Greece has become kind of a scapegoat due to increased talk of contagion (which is not an economic concept but rather a policymakers’ excuse for not doing what needs to be done domestically). Contagion or not, it doesn’t change the fact that there is no way out for Greece other than default, concluded Steen.

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Are You Up To Speed With PCI DSS?

It’s crucial that businesses keep on top of compliance, particularly with a range of updates being made to PCI DSS requirements. Tim Allitt, Head of Sales & Marketing, SecureTrading takes you through what your organisation needs to consider.

Many organisations have taken significant steps to achieve PCI compliance and believe their current infrastructures would pass assessments. Now that the PCI Security Council has released version 2.0 of the PCI Data Security Standard and Payment Application Standard it is vital that retailers understand what this means for their day-to-day business.

The Payment Card Industry Security Standards Council (PCI SSC) recently updated its compliance guidance. Many retailers were hoping the update would give a clear way forward in terms of their PCI DSS compliance.

The guidance covered two areas. Firstly, the guidance concludes that EMV (Europay, MasterCard and VISA (EMV) or more commonly referred to as chip and pin) does not address PCI DSS and therefore the two need to coexist. The SSC are supporting EMV but it is still not insisting that EMV become the global standard. This means UK merchants are put at risk every time they want to accept payment on cards which are not EMV smartcards, and UK card holders are put at risk because their stolen data can be used on cloned cards outside of the UK where swipe is still the default standard.

Secondly, with regard to Point To Point Encryption (P2PE), the SSC states that the technology is at an ‘immature’ stage. The reality is however, that there are solutions in the market today which fit the P2PE definition and which are PCI DSS certified.

The responsibility of managing data is one issue that won’t disappear for retailers and they may want to consider outsourcing the management of payments to a third party. Cost is a big concern to a retailer and if a business outsources to a secure, outsourced managed service from a Level 1 PCI DSS certified payment solution provider they will be able to have a fixed cost for this managed service. If they choose to outsource these costs they could potentially spiral out of control. According to a survey by Cisco, 67 per cent of IT decision makers think that their spending on PCI compliance will increase in the next year.

Therefore it makes sense for a business to select a suitable payment processor for a retailer’s needs and outsource its PCI requirements. Not only will this make integration easy and provide excellent technical support, it will also offer the merchant the ability to offer all the payment methods a customer might have in their wallet or purse and thereby enable businesses to process payments swiftly and securely. The best payment processors will have a range of products to suit start-ups, SMEs and large corporate organisations.

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TradingFloor.com Releases Video On The Federal Open Market Committee Meeting

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the Federal Open Market Committee meeting (FOCM).

With the deterioration in the US economic outlook being further cemented by recent disappointing macro data, there is now mounting expectation that the Federal Reserve will once again come to the rescue and kick-start the world’s largest economy. Therefore, all eyes are set to be on the latest Federal Open Market Committee meeting and what will or won’t be decided in terms on new monetary stimulus.

The latest FOCM meeting has been extended to a two day meeting to allow for further discussions. The last meeting saw an extension of low rates until 2013, and Steen Jakobsen, chief economist at Saxo Bank, believes that the next step will be an Operation Twist Light.

Back in the 60s, The Operation Twist, meant that people sold short term bonds and bought long term bonds, which was seen as a twist, hence the name. This time this will not be possible, because the rates have already been lowered. This means only the long end part of the equation will be executed, with long term bonds being bought. However, Steen doesn’t think this will be a lot for the market in the long term.

This alone is not going to be enough to turn it around. Steen believes that the market always likes to be promised something new, which means President Obama will need to balance the delivery of the Operation Twist Light and throw in something new as well.

Steen also comments that the situation in Europe will have an effect on the timing of any announcements from the US. While it is clear that the US realise the situation in Europe is not good for the US, Steen believes that the Federal Reserve will ultimately do what is the best for the US.

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ATX GROUP Announces Expanded Focus On Ultra Wealthy Clients

Following the successful launch of its special trading facilities, ATX GROUP today announced it will look to grow its advisor population that focuses on ultra-high net worth clients through a dedicated effort branded under the ATX GROUP Private Wealth Management name.

ATX GROUP’s well established Private Wealth Management division creates a strong platform for individuals and families of significant means. These clients have highly specialized wealth management and private banking requirements which we are uniquely positioned to fulfill,” said Joseph Black, President of ATX GROUP.

Led by Alexander Hutton, Managing Director, ATX GROUP Private Wealth Management will bring together approximately 25 highly trained private wealth advisors who will deliver a unique range of wealth management, asset management, private banking, capital markets and investment banking services to ultra-wealthy individuals and families in Asia, The Americas, Europe and Australia.

“The firm has been committed to providing a differentiated client experience, superior market intelligence and access to innovative solutions from leading investment specialists from around the world. Our organization will give us even more resources that we can bring to bear as strategic partners for our clients,” Mr. Hutton said.

ATX GROUP, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.

ATX GROUP is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from four continents.

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ATX GROUP Releases Global Portfolio-Level Trading Algorithm

ATX GROUP has announced the launch of AT-SYSTEM, a trading algorithm that enables the implementation of multiple portfolio level instructions such as risk neutralization and cash balancing. Using over 56 different risk metrics, AT-SYSTEM optimizes execution at the portfolio level by taking into account correlations between assets, as well as volatility and projected market impact. The result is better overall execution and risk management. AT-SYSTEM also offers traders improved performance by reducing the variance of execution costs. With this launch, buy-side traders can directly access the new portfolio-trading algorithm used by ATX GROUP’s Portfolio Trading desk.

“The addition of AT-SYSTEM to our constantly evolving suite of algorithms underscores our commitment to providing our clients with a complete set of trading tools and solutions to manage their global execution needs,” said Alexander Hutton, Managing Director at ATX GROUP.

AT-SYSTEM supports futures, options and exchange-traded funds, and accesses venues in all major markets in line with ATX GROUP’s liquidity philosophy. In addition, AT-SYSTEM offers clients the ability to analyze each step in the lifecycle of the trade by seamlessly integrating with MS Analytics, ATX GROUP’s industry-leading, multi-asset analytics platform.

Clients can access AT-SYSTEM through ATX GROUP trading platform or through a vendor partner and can execute trades themselves or with the support of the Firm’s experienced Electronic or Portfolio Trading teams. AT-SYSTEM is currently available in Asia and in The Americas and will be available in Europe by the beginning of the next year.

ATX GROUP Electronic Trading provides a complete spectrum of services, from pre-trade analytics and execution to post-trade execution performance analysis and commission management. AT-SYSTEM offers a comprehensive algorithmic trading suite and various direct market access strategies, including our smart order routing technology and our dark pool aggregator.

ATX GROUP is a leading global financial services firm, providing a wide range of investment banking, derivatives trading, investment management and wealth management services. The Firm’s employees serve clients worldwide, including corporations, governments, institutions, and individuals. For further information about ATX GROUP please visit www.atx-group.com.

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Saxo Bank Announces New Offshore Renminbi CNH

Saxo Bank, the specialist in online trading and investment, today announced that the new USDCNH currency cross is now available on its trading platforms. Clients of Saxo Bank will now be able to trade the offshore Chinese renminbi against the US Dollar.

Streaming prices on ticket sizes up to USD 3 million will be available during regular FX trading hours from 8am Mondays Sydney time to 5pm Fridays New York time. Larger trade sizes will be available on a Request for Quote (RFQ) basis. The Margin Requirement for the USDCNH is 8% and the minimum trade size is USD 5,000 notional.

The USDCNH will be available to all Saxo Bank’s clients, including those of white label clients, but will not be available to clients of Saxo Capital Markets HK.

Claus Nielsen, Head of Trading, Saxo Bank comments: “Over the past few years, the Chinese government has allowed the renminbi to appreciate against the US Dollar, and has gradually deregulated the currency’s trading. CNH offers an important option to take and manage renminbi risk and exposure to real investments and positive yield. The development of the offshore renminbi CNH is integral to China’s broader strategic plans to internationalise and turn the renminbi into a viable reserve currency.

“London, whose 37 per cent share of the global forex market is twice the one of its nearest rival New York, has just been officially approved by China as an offshore centre for trading renminbi. We expect USDCNH to become an interesting trading currency for our clients in the future.”

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Efficiency Uplift As Finance Firm Takes To The Clouds

Cloud computing is set to deliver a down-to-earth £40,000 annual saving for a major UK finance group – and provide an ultra-secure back-up for millions of pieces of vital company information.

The Funding Corporation, based in Chester, is now getting ready to scrap more than fifty percent of the 100-plus servers currently used to back-up its customer files and other data.

In place of the costly and bulky physical technology will come a remote back-up facility provided by computer data recovery specialist Acronis.

Not only will the move represent major financial savings for the company, it will also achieve a vast reduction – of over 90 percent – in the time previously spent retrieving archived data.

Time taken to create a full back-up of The Funding Corporation’s systems and information will also be greatly scaled down.

Data sent to the “virtual servers” provided by Acronis is fully encrypted, and the system meets the strict security regulations which govern data storage by members of the financial industry.

Dan Tinsley, Principal Systems Engineer at The Funding Corporation, said that the company’s rate of growth meant that its previous back-up and recovery systems were becoming untenable:

“Simply adding more and more servers to hold our data would not be cost-effective, and would have meant constantly increasing the time taken to retrieve stored information.

“Now, however, we can look at executing a full recovery, should it ever be needed, in a matter of hours instead of days using the company server-based system,” said Dan.

He also points out that by using off-site storage provided by Acronis, The Funding Corporation’s data is completely protected from potential disasters such as fire, floods and theft.

The company, recently named “Responsible Lender of the Year” by Credit Today, provides motor finance for the growing number of people unable to borrow from mainstream lenders.

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Business Monitor International Launches A Brand New Nordics Power Report

Business Monitor International (BMI) has introduced to its portfolio a brand new Nordics Power Report, covering Denmark, Finland and Sweden. This addition adds depth to BMI’s global power market views, and its analysis of the European power sector.

The Nordic countries covered in the report are mature electricity markets and, according to BMI’s forecasts, they will experience modest growth both in terms of generation and capacity over the forecast period (2011-2015). Considering that electricity demand is forecast to see only limited growth between now and 2020, the main priority for Denmark, Finland and Sweden is to replace ageing plants with additional cleaner generation capacity.

The Report provides key forecasts and in-depth analysis of the Nordic power market, including electricity generation, consumption, trade, power generation costs and transmission. The industry forecasts for gas, coal, oil, nuclear, hydro and renewable are supported by BMI assumptions and analysis of key risks to BMI core scenario. Within this, the report analyses the impact of regulatory changes, recent industry developments and the background macroeconomic outlook. It also features a competitive landscape of the Nordic power markets comparing multinational and national operators by sales, market share, investments, projects, partners and expansion strategies.

Electricity consumption and generation in Denmark, Finland and Sweden is expected to grow only moderately in the coming years. However, weak demographic dynamics and slow economic recovery as the result of government programmes are expected to impact power markets across Europe. BMI holds a similar outlook for Central and Eastern Europe with the exception of the Turkey power sector, which we expect to exhibit strong growth, driven by a sharp rise in its power consumption over the coming years.

BMI’s portfolio of products and services provides comprehensive analysis of the global power industry and enables industry professionals, strategists, sector analysts and equity investors to identify key market opportunities and avoid market risks wherever they operate.

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Saxo Bank Announces New Shareholder

Saxo Bank is pleased to announce that TPG Capital, one of the world’s leading investment firms, will become a major shareholder in Saxo Bank. Following the signing of a purchase agreement, a TPG Capital affiliate will acquire a 30% stake in the Company (along with an option to increase its stake to 40%) from existing investors, including General Atlantic, a global growth investor and Banco Espirito Santo, a leading Portuguese bank, amongst others. The founders, Kim Fournais and Lars Seier Christensen will retain majority ownership and continue in their roles as CEOs, also in the event that TPG Capital exercises its option to acquire 40%. TPG Capital’s investment is subject to customary regulatory and competition authority approvals.

General Atlantic invested in Saxo Bank in 2005 and both Espirito Santo Financial Group and Banco Espirito Santo invested in Saxo Bank in 2008. Banco Espirito Santo will continue to build the commercial cooperation that the bank has had with Saxo Bank since 2008, namely through Banco BEST that is owned by both entities.

Kim Fournais and Lars Seier Christensen, founders, CEOs and majority shareholders in Saxo Bank said in a joint statement: “We are delighted to welcome one of the world’s leading investment firms as a major shareholder and business partner. This new phase in Saxo Bank’s growth stems from the strong foundation built with the support from our selling shareholders, who have shared in our success to date. We remain enthusiastic about Saxo Bank’s future and look forward to working with TPG Capital to capitalise on the many opportunities ahead.”

Asiff Hirji, Partner at TPG Capital said: “Saxo Bank has achieved impressive growth and we look forward to supporting the future diversification strategy. TPG Capital has a strong track record of investing in and growing financial services businesses, particularly those seeking further expansion in emerging markets, where we see tremendous opportunities for Saxo Bank. We look forward to working with its two founders and CEOs.”

Bill Ford, CEO of General Atlantic and Ricardo Salgado, CEO of Banco Espirito said in a joint statement: “We have been pleased with our partnership with Saxo Bank over the last several years and consider this a very successful investment.”

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Business Monitor International Releases The Latest Analysis Of China’s Mining Industry

Business Monitor International (BMI) has published its latest China Mining Report, which forecasts annual average industry growth of 9.1% in real terms from 2011 to 2015, with production of bauxite, copper, tin and gold set to rise fastest. By the end of this period, the value of China’s mining industry will reach US$606bn. Industry-wide energy efficiency and consolidation measures introduced by the government as part of the 12th Five-Year Plan (2011-2015) will be the key drivers of growth.

BMI expects the industry to see further consolidation as government involvement increases, resulting in the closure of underperforming smaller mines and pressure on the country’s largest operations to improve efficiency and boost productivity.

The Report provides key forecasts and in-depth analysis of China’s mining industry, covering mining reserves, supply, demand and prices, plus analysis of landmark company developments, expansion plans and significant changes in the regulatory environment. Moreover, it features BMI’s mining and commodity forecasts to end-2015 for metals, minerals and gems.

China, India and Australia have become global leaders in gold, lead, zinc, bauxite and iron ore production over the last decade, strengthening Asia’s position as a dominant global mining player. That said, BMI forecasts Indonesia to become increasingly important a regional hub for mining production as domestic companies develop the country’s mining reserves. Indonesia’s mining industry is set for rapid growth as the country continues to attract investment in coal, nickel and tin sectors.

BMI’s portfolio of products and services provides comprehensive analysis of the global mining industry and enables industry professionals, strategists, sector analysts, investors and commodity traders to identify key market opportunities and avoid market risks wherever they operate.

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TradingFloor.com Releases Video on Meeting of Global Central Bankers

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the important meeting of a number of global central bankers at Jackson Hole in the U.S.

The state of the economy and the more active role of central banks to help rectify this means that investors are keenly interested in the fact that a number of global central bankers are meeting in Jackson Hole. There is also a lot of interest in what Federal Reserve Chairman Ben Bernanke will or won’t say when he addresses the meeting in a press conference.

Steen Jakobsen, chief economist, Saxo Bank, discusses his views on the market expectations and what the likely outcome of this meeting will be in TradingFloor.com’s latest video ‘Constructive Jackson Hole solution or more of the same?’

Last year, during the same meeting in a mountainside retreat, Ben Bernanke surprised everyone by announcing a second round of Quantitative Easing. With concerns about a double dip recession rising, people are expecting a big announcement this time around too. Steen Jakobsen believes that the main objective of Bernanke’s press conference will be to avoid “Japanisation”, which is a deflationary environment with low growth and low interest rates through more of the same monetary policy.

Recent data also suggests that the U.S. economy is going to need some sort of help in the form on intervention in the fourth quarter. Steen believes that even though quarter two was a failure, Bernanke will continue to defend the easing concept, despite his reputation is on the line. Bernanke is expected to claim that without the easing concept, the situation would have probably ended up being much worse.

A press conference by Jean-Claude Trichet the European Central Bank President, will follow that of Bernanke. He is also expected to defend the bank’s previous actions in raising rates, despite receiving heavy criticism that this was out of sync with the rest of Europe.

Steen states that the hope is that Trichet will now come up with some real solutions for the Eurozone’s economic problems. This should hopefully mean the Eurozone will lean more towards solidarity and consolidation, thus getting rid of the pointless political battles which have been making the problems worse.

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Create.net, The Web Site Creator, Clicks with SecureTrading

Create.net, a webhost which empowers businesses to produce their own bespoke sites, has chosen SecureTrading, the UK’s leading independent payment processor, to manage its online payments processing.

Create.net has a range of customers from low to high-end retailers, independent to wholesale firms. Create.net’s platforms allows users to adapt their websites over time as their business models develop. SecureTrading was selected for its ability to manage payments in one place. Thanks to SecureTrading’s flexibility, Create.net’s customers now have the option of using up to three payments processors for their integrated shopping cart, depending on the nature of their business.

Rebecca Kimber, Business Development Manager at Create.net says: “SecureTrading offers excellent customer service, something we are passionate about. We were pleased with their ability to meet our specific needs.”

This sentiment is shared by Create.net’s customer SJC Hair & Beauty whose owner Sarah Riley says: “I was impressed by the way SecureTrading talked me through the process and my requirements as well as offering extremely competitive fees. Thanks to SecureTrading, my website is now able to support credit and debit card payments, something I couldn’t do before, which has resulted in noticeably increased sales.” Established in 2009, SJC Hair & Beauty is a wholesale company of professional hair & beauty products.

Tim Allitt, Head of Sales & Marketing, SecureTrading, said, “We’re delighted to provide Create.net and its network of customers with a secure platform to process payments. We look forward to working with them in the future and helping them adapt to changing business needs.”

About Create.net
Create.net was founded in Brighton in 1999 by Simon Kimber and empowers anyone, regardless of digital ability, to build compelling and engaging business websites using an innovative template system to harness their own creativity and designs. Create.net currently hosts nearly 8,000 business websites and has helped thousands more get their businesses online in the last decade.

While a freelance developer, Simon came to realise the potential of a system that could enable anyone, regardless of their technical skills or experience, to quickly build the website they want. He set about creating the business model that thousands of startups and entrepreneurs have since used to drive sales, traffic and engagement.

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Business Monitor International report highlights the risks of a double-dip recession

Business Monitor International (BMI) has released its latest special report, “Market Meltdown: Global Economy On The Edge” evaluating the major risks to the world economy arising from the recent slump in global stock prices and rise in vulnerable government bond yields.

With the Eurozone affected by the on-going sovereign debt crises, the US faced with debt concerns after losing its AAA credit rating, and Japan still suffering from the consequences of March’s earthquake, the global economy is threatened by a risk of another recession.

On August 5 2011, Standard & Poor’s (S&P) lowered its long-term sovereign credit rating for the United States to AA+ from AAA, while maintaining a negative outlook. Prior to S&P’s announcement, poor Q211 GDP data and revisions to the GDP series going back to 2010 had a significant impact on the US economic outlook. The report focuses on the recent market developments, outlines revisions to BMI’s US growth forecasts and provides insight into the US ratings downgrade. Furthermore it examines a possibility of a double-dip recession in the US.

BMI also analyses the implications of the Eurozone debt crisis for European politics, financial market strategies and the European banking sector. Considering market scepticism over the sustainability of the Eurozone, the current crises represent the biggest test for European institutions since the collapse of Yugoslavia in the 1990s, and one with far graver economic implications.

Moreover, “Market Meltdown: Global Economy On The Edge” assesses the contagion risks of the eurozone and US crises for Asia; from banking sector exposure, the stress on states with weak fiscal positions, and the impact on China’s economy and the rest of the region should global trade flows be disrupted by a weakening US dollar, or lower import demand from the US and Europe.

BMI’s unique combination of global macro-economic forecasting, industry knowledge and long track-record of emerging markets forecasting enables global investors, strategists and decision-makers across the corporate spectrum to identify key market opportunities and avoid market risks wherever they operate.

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TradingFloor.com Releases Video On The Swiss Franc Dilemma

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the current dilemma involving the Swiss Franc.

The Swiss Franc has appreciated of late, and therefore so has the focus of what the Swiss Bank and the Swiss government will do to curb this strength, as it is hurting businesses and therefore the Swiss economy.

One of the steps which have been discussed the most is a peg to the Euro; however this is yet to happen, despite much speculation. With the attempts to weaken the currency’s strength possibly only providing temporary relief, it is seen as only a matter of time before more extreme measures, such as a peg to the Euro, are taken.

Ken Veksler, senior manager, Trading Advisory at Saxo Bank discusses his opinions on the likelihood of a peg to the Euro and the effect the Swiss Franc dilemma is having on the Swiss economy.

Veksler believes that a peg to the Euro is an extreme measure, and the likelihood of that happening is fairly minimal. There was a successful attempt made in 1978, where the Swiss Franc was pegged to the German Deutschmark for around 18 months, however, Veksler thinks it will be unlikely that this extreme measure will be taken again, even though the scare in the market in recent days and weeks has made it more of a serious topic than previously thought.

The Swiss government would be unhappy to put a peg to the Euro in place because it would mean a loss of its position as an independent state within a wider UN zone, which they have prided themselves on for quite some time.

Veksler believes that if the peg did come into place the Swiss Bank would have to revert to printing money to allow themselves adequate reserves to put this sort of action into place. However, this is more of a band aid for the problem rather than a full term solution.

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Saxo Bank Announces Half Year Results

Saxo Bank reported a net profit of DKK 346 million for the first six months of 2011. The result which is in line with expectations represents an increase of 375% over the second half of 2010, and a decrease of 37% compared with the first six months of 2010, where market activity and volatility were unusually high.

– Operating income DKK 1,772 million (DKK 1,992 million)
– Profit before tax DKK 474 million (DKK 729 million)
– Net profit DKK 346 million (DKK 551 million)
– Solvency ratio 12.3% (19.2%)
– Clients’ collateral deposits DKK 32,855 million (DKK 26,590 million)
– Assets under management DKK 32,357 million (DKK 24,606 million)

Saxo Bank saw a significant increase in average monthly volumes traded in CFD stock indices, single stocks and commodities, cash stocks, FX options and futures compared to the same period last year. Monthly FX volumes averaged approximately DKK 1.2 trillion in the first half of 2011, with lower trading volumes in the first quarter and a pick up in the second.

While the overall trader and investor activity level was moderate in the first half of 2011, the Bank saw continued growth in clients’ collateral deposits and assets under management, which are the foundation for future business and profits. Total assets under management in Saxo Bank’s trading business increased from DKK 31.2 billion as of 31 December 2010 to DKK 32.4 billion as of 30 June 2011. Clients’ collateral deposits in Saxo Bank’s asset management business increased from DKK 31.3 billion as of 31 December 2010 to DKK 32.9 billion as of 30 June 2011.

Operating income for the first six months of 2011 reached DKK 1,772 million for the Group. This is lower compared to the same period in 2010, but represents an increase in trading-related income following on from the second half of 2010.

Kim Fournais and Lars Seier Christensen, co-founders and CEOs of Saxo Bank, said in a joint statement: “Saxo Bank achieved a satisfactory half-year net profit fully in line with expectations, despite general market conditions which reduced risk appetite in the economy and dampened capital market activities. While keeping a close eye on overall cost developments, Saxo Bank will keep its focus on expanding our products and services as well as optimising the efficiency and profitability of our operations. Overall, we believe the Group has a solid foundation for current and future operations and we expect to continue to create value for our stakeholders.”

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