WEBODIGY Business & Finance Journal

President Hugo Chavez announced the devaluation of the currency for the first time since 2005 that aimed to help the Venezuelan oil company’s performance.

Chavez said Bolivar currency has two exchange rates are 2.60 per dollar for the transaction of government priorities and the 4.30 per dollar for other transactions. This led to the devaluation of the exchange rate Bolivar down 17% or 50%, depending on his tier.

High exchange rate, or so-called oil dollars, will double the Venezuelan oil company earnings when converted into local currency. Over half the oil and gas revenues from the government budget, but the income was shrunk due to lower world oil prices over the past year.

Chavez said the main exchange rate will be used for food, health products, school supplies, supplies for economic development and others.

He said the policy of the new exchange rate aims to improve economic productivity, eliminate unnecessary import, and export mestimulasi.

Imports expected to fall in exchange rates are less favorable such as automotive, telecommunications products, computers, home equipment, alcohol, and tobacco.

Government official exchange rate set at 2.15 per U.S. dollar Bolivar since 2005.

Devaluation was expected to move domestic economy and limit the international impact. The Government has introduced a system of strict exchange rates since 2003 to prevent capital flight.

Chavez also stressed the government will intervene in the bond market.

Furniture industry and wood craft in Surakarta optimistic overseas market demand, especially from traditional export destinations such as the United States and Europe rebounded in the quarter I/2010.

Trust can be seen from petumbuhan export performance during the last quarter of 2009 which can be used as indicators of the improving world economic conditions, according rocked by the global crisis in 2008.

Chairman of the Association of Industry and Handicraft Permebelan Indonesia (Asmindo) Komda Surakarta David R. Wijaya said the symptoms of increased orders from abroad seen in recent months.

“It’s getting better, I’ll be looking right in February 2010. Late this year or early next year, orders have started coming,” he told Bisnis.com, today.

According to him, the world financial crisis that caused the United States economy struggled and the other European countries faltered, apparently did not take place in a long period of time.

As a result, he tells the market conditions began to passionately and export activities to many countries the main purpose of Surakarta businessman, showed a positive trend.

“We are worried the crisis had lasted longer, in fact just a moment. Including crisis worries Dubai, receive the effects do not disturb the world economy,” he said.

With the improving performance of commodity exports of furniture Surakarta, he expects the bank’s role was strengthened in supporting business activities in the region.

China’s exports rose in December for the first time in 14 months to strengthen the economic recovery that had been dependent on government stimulus. Government-owned television today broadcast the export product shipments rose 17.7% in December from a year ago, after falling by 1.2% for November. While the median estimate of 21 economists surveyed rose only 5%. In fact, none of the economists project a large number. CCTV, citing the customs, reported very strong increase in imports. Rebound in the trade sector is expected to open opportunities to continue the government of China on yuan appreciation of the U.S. dollar. Because, with the strengthening of the currency to help China withstand the impact of global trade contraction. In fact, China could become the biggest exporter of German defeat. “The government may allow the appreciation when they see a clear signal from the global recovery. Policy makers in Beijing worried about the risks of further economic terpuruknya outside China,” said Lu Ting, an economist at Bank of America-Merrill Lynch in Hong Kong. Yuan futures contracts indicated the government would let the currency appreciation of 3% above the U.S. dollar next year. This contract up to the highest level for more than a month on January 8, after the central bank directed yield moved up 3 months. The report, aired by CCTV explain imports rose about 56% in December from the previous year and indicates the monthly trade surplus of about U.S. $ 18.4 billion. In a separate Xinhua report includes a full year surplus reached U.S. $ 196.07 billion. China’s exports in 2010 is estimated driven by the global recovery. On the other hand, the export performance of Taiwan reported the largest rise in 14 years during December

Embarrassed harassed by other nations in the management of its oil palm plantation, now, Indonesia tried to ‘independent’. At least, in terms of arranging the fruit plantation management to become queen of foreign exchange in agricultural sector.

In fact, the Indonesian Government is now confident to set on the Draft 2010 Standard Oil Palm Plantation Development Sustainable or Indonesian Sustainable Palm Oil (ISPO) will be applied to the stakeholders.

ISPO is the background conditions that tend to RSPO rules put the interests of consumers than producers.

ISPO which will apply this government will be adjusted to the situation in Indonesia, and aims to set national oil palm development with environmental safety remain.

Directorate General of Plantation Department of Agriculture, Achmad Mangga Barani tells the government and the stakeholders are doing a discussion about ISPO.

“We ask for input to the company about what needs to be included in this ISPO,” he said, yesterday.

ISPO is being discussed this, still accommodate the parties involved. For example, will adopt some rules set out in the on Roundtable on Sustainable Palm Oil (RSPO).

Some of them are commitments about the economy, long-term finance, transparency, development of plantations in charge, and adherence to regulations and laws in the country.

Although the Director General admitted that all this loss obtained many oil producers [with reference to the RSPO]. He gave an example of palm plantation in Indonesia’s peatlands may be approved even with regulations. “This is legal. But why should other countries that noise” he said.

No doubt, even among the oil industry to open your heart to accept the government’s plan. Joint Secretary General of Indonesian Palm Oil Entrepreneurs (Gapki) Joko Supriyono, for example, there are government efforts to encourage the immediate enactment of this ISPO.

“We listened to the exposure of the government. In the future we will enter,” he said.

Input form is expected to be included in the ISPO. He pointed out that such input certification forms for oil commodities in Indonesia.

According to him, the draft ISPO in the hands of this government is very open the possibility for change. “The important thing, the desire of government to make this ISPO should be encouraged and hasten it,” he said.

Not tricked

Thus, he added, as the belle of commodity producers, Indonesia is not easy to be tricked by the buyer.

Meanwhile, Chairman of Indonesian Palm Oil Commission Rosediana ISPO Suharto declared it was intended to apply the rules consistently governments to palm oil.

“The government alone has the right to set rules so that law-abiding employers oil and follow the rules of sustainable palm oil production,” he said.

Thus, he added, if later there are protests from other countries, Indonesia had evidence that oil production from Indonesia has been in accordance with the principle of ISPO. What is clear, he said, in that there ISPO criteria which must be passed by the government began to control the level of coaching.

Since the beginning of December 2009, the government began to prepare the development standards of sustainable oil palm plantations nationally or ISPO.

Because, so far in the development of oil palm plantations in the country often refer to the rules set by the RSPO developed countries.

However, the rules of the RSPO, is based on the interests of developed countries, so sometimes detrimental palm oil industry in the country.

“Why go around other countries make the rules according to the interests of his country, whereas we can not” said the Director General of Plantation.

Indian exports rose for the first time in 14 months as the global economic recovery is boosting demand for the country’s products during the holiday season year end.

Ministry of Trade reported overseas shipments rose 18.2% to U.S. $ 13.2 billion in November from a year earlier after declining an average of 21% per month since October 2008.

Imports fell 2.6% to U.S. $ 22.8 billion in November, thus narrowing the trade deficit to U.S. $ 9.6 billion from U.S. $ 12.3 billion last year.

The low interest rates and government stimulus package of U.S. $ 2 trillion more than all the world to restore demand clothing made by Gokaldas Exports Ltd..

Exports from South Korean automakers, Hyundai Motor Co., up 33.7% in December, the highest in 17 months. This is supported by the economic recovery of Asia from China to Singapore from the worst global recession since the 1930s.

“We see the movement of a rebound in overseas sales following the improved conditions in the U.S. and Europe as well as spikes in demand around Christmas,” said NR Bhanumurthy, an economist at the National Institute of Public Finance and Policy in New Delhi.

Export growth is able to increase production at a number of Indian companies undergoing expansion of 7.9% in the 3 months to 30 September from the previous year. That number is the fastest in 6 quarters.

A number of sectors began to show visible recovery signal. Overseas sales for jewelry surged 54.8% to U.S. $ 21.4 billion in November.

While the Society of Indian Automobile Manufacturers vehicle export record, up 25% in November from a year earlier.

Bhanumurthy said exports in November should have marked the beginning of a positive trend for the economy of India. Even so, exports and economic difficulties have not ended.

“Spurt of inflation becomes a threat as rising costs are forcing exporters price rises that could affect competition in the international market,” he said