Financial Technologies (FT) Group’s Singapore Mercantile Exchange (SMX) has received final approval from Singapore authorities to operate as an international commodity and currency derivatives exchange there.
SMX is the first pan-Asian multi-product commodity and currency derivatives exchange. The Monetary Authority of Singapore (MAS) granted ‘Approved Exchange’ status to SMX to operate out of Singapore as a regulated and licensed exchange, a company release said here. SMX has announced four products, which will be traded when the exchange goes live:
Gold futures contract with physical delivery
West Texas Intermediate (WTI) Crude Oil
Brent-Euro Crude Oil and
Euro-US Dollar futures contracts
“SMX will create a new generation international commodity and derivative trading platform at par with best global exchanges in New York and London,” Financial Technologies Group CEO and SMX’s Vice Chairman, Jignesh Shah said. SMX is a wholly-owned subsidiary of Financial Technologies Group.
Michael Pento, senior economist at Euro Pacific Capital, and Dan Greenhaus, chief economic strategist with Miller Tabak, debate the issues in this clip.
I strongly disagree with Michael Pento, who says a depression should be encouraged in America. His view that the govt. should be as impotent as possible, is one of the most funny statements in the recent months. The need is to increase the money supply, not decrease it. The asset prices (home prices) will automatically fall down gradually in the coming years, based on demand-supply, but it will avoid a crash. Today is not the time to trim the role of the Govt.
If anything can prevent America from depression with deflation, it is the US Govt taking the lead with offering new economic stimulus packages – for infrastructure, for education, for vocational training, etc. Fiscal policy levers/incentives must be used to spur private sector growth, where in the govt. either becomes a buyer or actively sources buyers through export opportunities.
The need is for the govt. to take charge and play a major role. US businesses alone can’t do much. In addition, taxes on the rich must be renewed, not removed. Unless job growth happens, no real economic recovery is possible.
Are You Planning To Take PMP Certification Exam based on PMBOK 4th edition? If yes, then our latest PMBOK study guide has tips to prepare better for PMP project management certification exam based on the latest PMBOK 4th edition, which has become applicable from 1st July 2009.
So if you are going for PMP certification 4th edition, this PMBOK study guide has notes from the latest exam, and the tips will be valuable for you.
Here are the points it covers:
* What is the new exam structure and how to approach it?
* What kinds of questions are being asked on different topics?
* What are the areas of high importance, which you must prepare with extra focus? Continue reading →
Reliance Industries (RIL) will buy its third shale gas asset in the US for $392 million. RIL will pay $340 million in cash to acquire a 60 per cent stake in the Marcellus shale-gas acreages held by Carrizo Oil and Gas Inc and its partner, and the remainder $52 million would in Carrizo’s drilling cost in the Marcellus shale-gas areas of central and northeast Pennsylvania.
Earlier in 2010, RIL had bought a 40 per cent stake in Atlas Energy Inc’s Marcellus Shale acreage for $1.7 billion. Then in June 2010, it had agreed to buy a 45 per cent stake in Pioneer Natural Resources Co’s Eagle Ford shale natural gas asset in Texas for about $1.36 billion. Continue reading →