| FXCM sponsors Middle East Forex Trading Expo in Dubai
Arabcom Group, organizer of The Middle East Forex Trading Expo has the participation of Forex Capital Markets LLC (FXCM), the largest Forex Dealer Member, as the Main Sponsor of the event. The Middle East Forex Trading Expo will be held at the Dusit Dubai Hotel on 1-2 March 2007.This 2-day Expo and Workshop is the first of its kind in the Middle East. Geared towards meeting the regions interest and demand on forex, The Middle East Forex Trading Expo will play host to all forex enthusiasts in and outside the region.With the growing trend of the market and the superabundant liquidity in the region, the expo is expected to draw the participation and support of international forex corporations, banks and financial institutions, software tools, training providers and data suppliers, said Jean Louis Farwaji, Vice President of Arabcom Group.The Middle East Forex Trading Expo is an avenue to explore the vast oportunities available in the region, learn the tricks of the trade and know how to consistently profit from trading currencies only from the experts, network with the international and the most exciting forex companies and to tap and meet potential clients.
Venezuela's Cabezas Vows to Clamp Down on Speculators (Update1)
Jan. 25 (Bloomberg) -- Venezuela Finance Minister Rodrigo Cabezas vowed to clamp down on currency speculators because they are driving the country's inflation rate higher. The currency fell to a record low in unregulated trading. Cabezas said currency speculators want to spread ``economic chaos'' in Venezuela. His comments echoed those from other officials this week, who called for tougher oversight of illegal foreign exchange trading. Only the Venezuelan government may sell dollars to the public. ``Speculators aren't going to win,'' Cabezas said during a speech at the Finance Ministry in Caracas. He didn't provide details of measures under consideration. The currency fell 6 percent to 4,500 to the dollar from 4,250 yesterday, traders said.
Mazda Shares Fall After Carmaker Cuts Profit Forecast (Update3)
Feb. 9 (Bloomberg) -- Shares of Mazda Motor Corp., a third owned by Ford Motor Co., had their largest drop in almost five years after the company lowered its profit forecast because of losses from currency hedging. The stock dropped 5.6 percent, or 43 yen, to 729 yen at the close of trading on the Tokyo Stock Exchange. The benchmark Topix index rose 1.5 percent. Mazda exports three-quarters of domestic production and usually hedges 70 percent of its currency transactions to protect earnings. The carmaker made bad bets on the yen, resulting in losses of 16 billion yen ($132 million) in the first nine months of the fiscal year. ``All companies risk losing from currency hedging,'' said Yasuhiro Matsumoto, a senior analyst at Shinsei Securities Co.
South Korean Stocks Fall
South Korean shares fell Thursday, led by losses in steelmaker Posco and Korea Electric Power. The won declined. The Korea Composite Stock Price Index fell 2.71 points, or 0.2 percent, to 1,423.58, declining for a second straight session. Posco, the world's third largest steelmaker, fell 1.7 percent to 344,000 won as foreign investors sold shares following recent gains. Korea Electric Power Corp. declined 1.9 percent to 41,650 won on weaker-than-expected fourth-quarter earnings. In currency trading, the won fell, tracking losses in the Japanese yen. The U.S. dollar closed at 935.1 won, up from 933.7 Wednesday. .
|
