Burj Dubai tallest building inaugurated today
Company Info February 19th, 2010
Burj Dubai, tallest building in the world who tilled by property giant Emaar company, plans to open today in the midst of world economic conditions are still in the recovery phase.
Building height is 800 meters altitude beat Taipei 101 Tower (508 meters), which holds the record for the tallest building in the world. This prestigious project was designed with a unique architecture, forming a needle and will be supplied with a variety of alternative energy.
However, the level of occupancy of the building’s office space is still on the level of 75% will be challenges for investors and building managers. Apartment prices in the Middle East that had soared in 2008 and then declined almost in half last year also indicates that the Middle East property market is still sluggish.
“Consumers are buying with the intention to rent will face a difficult time, because very few companies today can pay a premium for something fancy,” said Roy Cherry, an analyst at Shuaa Capital PSC, today.
Building the Burj Dubai skyscraper of 160 floors, with an area of 330,000 square meters, which was built with 31,400 tons of steel. Grandeur of this building can be seen from distances of up to 95 kilometers. The building is equipped with 57 elevators for residents of the building consisting of 1044 apartments, 49 floors of offices and hotels bearing the Giorgio Armani logo. Skyscrapers are a Y-shaped design, the design architect Adrian Smith.
For building designers and developers, the inauguration of this building marks a new chapter in the property industry and the world of architecture. Building height to more than 800 meters will encourage other developers to create giant building higher up to 1 Km.
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Company Info February 16th, 2010
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Taiwan lent $ 12 Billion Debt
Credit and Loan February 15th, 2010
Taiwan obtain a loan fund of $ 12 billion in new funding to invest in the company’s high-speed train. Dikucuri these funds in an effort to pay off previous loans.
As reported by the AFP, Monday (1/11/2010), syndicated loans equivalent to 382 billion Taiwan will be used to repay the loan Taiwan High-Speed Rail Corp. with interest rates higher during construction projects.
As is known, Vice President Ted Chia disclose if the fund is the largest syndicated loan in the history of Taiwan, which will save the company approximately $ 2 billion per year.
Billed as one of the largest private company ever to fund transportation projects such as the Taiwan High Speed Rail, has become more famous for its ability to collect a large debt.
Three years after the railway operating system much praised, Taiwan has to raise $ 70.2 billion Taiwan dollars ($ 2, 1 billion) is actually losing money. The number is approximately two-thirds of the capitalization.
After that, a sudden economic slowdown Taiwan experience where every day passengers projected to decline. As reported to the government in the 1980s recorded 280 thousand passengers per day, and now in the early 1990s has shrunk to only 87 thousand per day.
However, the company did not disclose more information about the interest rate new loans. However, local media predict interest rates approximately 1.83 percent per year.
For information, along the 345 kilometer (207-mile) railway system in northern Taipei, and Kaohsiung in the south using Japanese bullet train technology. A formula for build-operate-transfer (BOT) was adopted to wear corporate train by building and running the line for 35 years before giving it to the government.
Introduction of CAFTA FPG: Poverty & Unemployment Will Rise
Economy February 15th, 2010
Golkar Party faction (FPG) asked President Susilo Bambang Yudhoyono (SBY) to delay the implementation of free trade China-ASEAN (China-ASEAN Free Trade Area / CAFTA) considering the very adverse effects for the national manufacturing industry.
CAFTA by the Golkar Party faction will potentially increase the rate of unemployment and poverty in absolute terms. The statement was made by the Secretary of the Golkar Party faction Ade Komarudin via Press Release that was sent to the media, Sunday (10.1.2010).
“With the implementation of CAFTA, the national manufacturing industry which has been used as a national backbone to absorb labor would be closed by itself. Our manufacturing industry will not be able to compete from the invasion of China products. As a result, unemployment and poverty rates soared, due to widespread layoffs and lack of investment in manufacturing industries. When this happens, it is quite likely to trigger a national instability, “he said.
Therefore, continued Ade, the Golkar Party asked the government to postpone the agreement for the national interest is greater. “Developed countries are also doing that, if the interests affected nasonalnya. Look at the attitude of the United States and other developed countries in WTO negotiations, they tried and are very protective of its national interests,” he said.
According to Ade, the Golkar Party faction argued, but will increase unemployment and poverty, CAFTA will affect the balance of trade imbalance between China and Indonesia. “We are only able to sell raw materials or semi-processed yet, while the government is aggressively pushing China to export to foreign countries with schemes to encourage industry policies that can compete in a productive, so between our imports and exports will be crippled by itself,” he explained.
He said, to grow and develop national industry is still plagued by a lack of infrastructure, high transport costs and port services are still complicated. “With such a large obstacle, the Golkar Party faction rate is unethical for the government to let the national manufacturing industry ‘dead’ by itself due to the implementation of CAFTA agreement.”
Industrial sector which will sink if the study is performed according CAFTA Golkar Party is the textile industry and textile products (TPT), petrochemical industry, industrial equipment and agricultural machinery, footwear, synthetic fiber industry, electronic industry (including cable and electrical equipment), industrial machinery, industrial engineering and steel industry.
“In Vietnam we have manufactured products have lost, especially with China products. That’s why we suggest to the government to examine and assess which products are ready for release within the framework of free trade, and for industrial products that have not been able to compete government should do renegoisasi back to the products included in the list of delayed free trade China-Asean. ”
To help the performance of national industries in the face of global competition, FPG asked the central and local governments to establish a harmonious relationship with the business. “The government should assist the business community in an effort to improve performance through regulation, incentives and facilities that enable businesses to compete competitively. Central and local governments must be synchronized to take and implement policies. So far, the central government policy, sometimes run differently in the region, it is reflected by the number of laws that are not business friendly. ”
Golkar Party faction admitted, that the CAFTA agreement also opens new market opportunities for national industry. “Viewed from the population, the FPG admitted, that the potential market is huge. So the national industrial opportunities to enlarge its market share is also very large. Therefore, FPG in the proposal asked the government to delay implementation for manufacturing products that certainly has not been able to compete,” he added
Japan Airlines shares disappear 12%
Stock Report February 15th, 2010
Japan Airlines (JAL) shares was recorded again vanish in Tokyo trading after the largest airline bankruptcy of Japanese origin.
As reported by AFP on Saturday (9/1/2010), observed JAL shares plummeted 11.8 percent and closed at the level of 67 yen per share. The Japanese government is currently trying to save JAL from bankruptcy with guaranteed support from the public to continue to run this flight.
Minister of Transportation of Japan, Seiji Maehara also reportedly has met with Finance Minister Naoto Kan on Friday with a party that would restructure the JAL Enterprise Corp. Turnaround Initiative.
But unfortunately, the Japanese Government refused when JAL has been bankrupt. But on the one hand, the government rejected the bankruptcy administration process, which can help the process of restructuring JAL is likely to leave its investors.
“We want the Turnaround Enterprise Initiative Corp. JAL can rebuild by using funds from the public,” said Maehara.
The plan of this penyelematan new airline will be decided on January 19 next, which will use the rescue package from bankruptcy. Reportedly, the process of saving them will require funds of 300 billion yen, equivalent to $ 3, 2 billion. These investment funds will be used to accommodate the bankruptcy JAL by asking the lender to seek a loan of 300 billion yen.
JAL has been known to borrow funds from the government since 2001 to finance the company’s debts are accumulating. In addition, the company loses approximately $ 1, 5 billion during the six-month period is also planned to cut thousands of workers and reduce flight routes as part of a way to restore the company’s profits.
For information, JAL may cut more than 10,000 employees and recorded a restructuring of their debt financing of 1.13 trillion yen as of March 31 next year on year. JAL also has offered to finance their debt by American Airlines and Delta Air Lines, where the two companies have competed for this Japanese company and will expand in Asian markets.
On the other hand, the media reported when JAL advised to collaborate with Delta and joined the Global SkyTeam, Oneworld and leaving group which also has American Airlines. Nevertheless, Wall Street Journal reported this week when American Airlines raised their investment offer from USD300 million to USD1, 4 billion.
