Showing posts with label forex. Show all posts
Showing posts with label forex. Show all posts

Friday, June 14, 2013

U.S. considers no-fly zone after Syria crosses nerve gas red line...

The United States is considering a no-fly zone in Syria, potentially its first direct intervention into the two-year-old civil war, Western diplomats said on Friday, after the White House said Syria had crossed a "red line" by using nerve gas.

After months of deliberation, President Barack Obama's administration said on Thursday it would now arm rebels, having obtained proof the Syrian government used chemical weapons against fighters trying to overthrow President Bashar al-Assad. Two senior Western diplomats said Washington is looking into a no-fly zone close to Syria's southern border with Jordan.

"Washington is considering a no-fly zone to help Assad's opponents," one diplomat said. He said it would be limited "time-wise and area-wise, possibly near the Jordanian border".
Imposing a no-fly zone could require the United States to destroy Syria's sophisticated Russian-built air defenses, thrusting it into the war with the sort of action NATO used to help topple Muammar Gaddafi in Libya two years ago.

Washington says it has not ruled out a no fly zone but has played down the prospect and said a decision is not "imminent".

"We have not made any decision to pursue a military operation such as a no-fly zone," U.S. Deputy National Security Adviser Ben Rhodes said on Thursday.
"A no-fly zone … would carry with it great and open-ended costs for the United States and the international community. It's far more complex to undertake the type of effort, for instance, in Syria than it was in Libya."

Any such move would also come up against a potential veto from Assad's ally Russia in the U.N. Security Council. The Kremlin dismissed U.S. evidence of Assad's use of nerve gas.
"I will say frankly that what was presented to us by the Americans does not look convincing," President Vladimir Putin's senior foreign policy advisor Yuri Ushakov said.
France said a no-fly zone would be impossible without U.N. Security Council authorization, which made it unlikely for now.

Nevertheless, Washington has quietly taken steps that would make it easier, moving Patriot surface-to-air missiles, war planes and more than 4,000 troops into Jordan, officially as part of an annual exercise in the past week but making clear that the assets could stay on when the war games are over.

MOMENTUM TURNS

Syria's civil war grew out of protests that swept across the Arab world in 2011, becoming by far the deadliest of those uprisings and the most difficult to resolve, with powers across the Middle East squaring off on sectarian lines.

Western countries have spent the past two years demanding Assad leave power but declining to use force as they did in Libya, because of the far greater risk of fighting a much stronger country that straddles sectarian divides at the heart of the Middle East and is backed by Iran and Russia.
Just months ago, Western countries believed Assad's days were numbered. But momentum on the battlefield has turned in his favor, making the prospect of his swift removal and an end to the bloodshed appear remote without outside intervention.

Thousands of seasoned fighters from Lebanon's pro-Iranian Hezbollah militia joined the war on Assad's behalf in recent weeks and last week helped the Syrian government recapture Qusair, a strategic town. Assad's government says its troops are now preparing for a massive assault on Aleppo, Syria's biggest city, mainly in rebel hands since last year.

Activists reported an intensified assault on parts of Aleppo and its countryside near the Turkish border overnight, sparking some of the most violent clashes in months.
Hezbollah's leader Hassan Nasrallah said the guerrilla group would not be shaken in its support for Assad: "Wherever we need to be, we will be."

The arrival of Shi'ite Hezbollah in the war on behalf of Assad, a member of the Shi'ite offshoot Alawite sect, has exacerbated the war's dangerous sectarian overtones across the tumultuous region. Egypt's ruling Muslim Brotherhood backed a call by Sunni clerics for holy war.

OBAMA'S CALCULUS

The use of chemical weapons provides a straightforward reason for Washington to intervene. Deputy National Security Adviser Rhodes said Washington now believed 100-150 people had been killed by government poison gas attacks on rebels.
"The president ... has made it clear that the use of chemical weapons or transfer of chemical weapons to terrorist groups is a red line," he said. "He has said that the use of chemical weapons would change his calculus, and it has."Syria, which says rebels used chemical weapons not the government, said the U.S. statement was full of lies.

"The White House ... relied on fabricated information in order to hold the Syrian government responsible for using these weapons, despite a series of statements that confirmed that terrorist groups in Syria have chemical weapons," the foreign ministry said in a statement.
An implicit threat to join the conflict puts Washington on a diplomatic collision course with Moscow, which has used its U.N. Security Council veto three times to block resolutions that might be used to threaten force against Assad.

U.S. officials say Obama will try to persuade Putin to abandon support for Assad when the two leaders meet at a G8 summit in Northern Ireland next week.
Washington and Moscow have jointly called for a peace conference in Geneva, the first attempt in a year by the Cold War foes to find a diplomatic solution to the war, but the prospects for the talks now seem dubious.

The United Nations now estimates at least 93,000 people have been killed in Syria and millions driven from their homes.U.S. and European officials were meeting the commander of the rebels' Supreme Military Council and the Free Syrian Army (FSA), Salim Idriss, on Friday in Turkey. The group was expected to ask for advanced weapons, a no-fly zone and diplomatic help persuading Russia and Iran to stop backing Assad.

Western powers have been reluctant in the past to arm the rebels, worried about the rising strength of Sunni Islamist insurgents who have pledged loyalty to al Qaeda.
The White House said Washington would now provide "direct military support" to the opposition. A U.S. official, speaking on condition of anonymity, confirmed it would now include arms as opposed to "non-lethal" aid sent in the past.

Syrian rebels already receive light arms from Saudi Arabia and Qatar. They have asked for heavier weapons including anti-tank and anti-aircraft missiles.
Qassem Saadedine, a Supreme Military Council commander, called Obama's decision to send weapons "very brave" and he hoped weapons would start arriving in the coming weeks.
Islamist rebel fighters in Syria were more skeptical. "We consider America an enemy and see it as quite unlikely that it will actually give the mujahideen weapons," Abu Bilal, a Sunni insurgent in Homs, told Reuters via Skype.

An Islamist field commander in Hama said he would take the weapons if he could get them: "Everyone here right now is working on the principle that their enemy's enemy is their friend. America is against Bashar right now, at least publicly."UN Secretary-General Ban Ki-moon said increasing the flow of arms to either side "would not be helpful."

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Monday, March 25, 2013

Stocks Trade Level for Today



25/03/2013

CF Industries Holdings, Inc.  (Public, NYSE:CF)

Buy@ 190, Stop below@188, Target@ 198

Deere & Company (Public, NYSE:DE)

Discover Financial Services  (Public, NYSE:DFS) 

Sell @Market Price; Stop above@46, Target @43.50

ConocoPhillips  (Public, NYSE:COP)

Sell @61; Stop above@62.40, Target @58.70


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Gold Survey: Solid Majority Of Survey Participants See Higher Gold Prices Next Week...


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Gold Survey: 

Friday March 22, 2013 12:08 PM
Gold prices are expected to climb next week, with expectations that the yellow metal may catch a bid as the situation regarding a possible bailout for Cyprus could attract safe-haven buying.
In the World News Gold Survey, out of 33 participants, 28 responded this week. Of those 28 participants, 22 see prices up, while four see prices down, and two are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.For those participants who see higher prices next week, nearly all of them cited the situation in Cyprus and whether or not European officials will agree to bail out the near-bankrupt country as the reason for their higher calls. Many expect that Cyprus will get some sort of bailout, which will support both gold and the euro currency.

Carlos Perez-Santalla, precious metals broker at PVM Futures, echoed what many other participants said was another bullish factor for gold. “Although the Cyprus situation has not driven demand up yet, the feeling of insecurity of monetary assets by many Europeans will affect demand soon,” he said.
The majority of participants are bullish, but there a few respondents who said gold’s limited reaction to the Cyprus news this week doesn’t bode well for the metal. They said they were surprised that given news that a eurozone country was teetering on the edge of bankruptcy, gold wasn’t able to take out recent highs, which is troubling.

“The key number for gold is $1,625. That’s big resistance. Unless we can close above it, the trend remains down,” said Kevin Grady, president, Phoenix Futures and Options.
The two participants who are neutral on gold said there are too many unknowns about the Cyprus situation to give an accurate read on where prices might go next week.


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Saturday, March 23, 2013

Cyprus closes in, on EU bailout U-turn on levy

In Finland, an ally of Germany in disciplining euro zone partners, European affairs minister Alexander Stubb told Reuters he was confident Cyprus would accept EU rescue terms "because there are no other options".
Cyprus is expected to make a dramatic U-turn on Saturday to avert the imminent threat of financial meltdown, having signaled it is willing to tax big savers in its stricken banks to clinch a bailout from the European Union.

The island's partners in the 17-nation euro zone scheduled a meeting for Sunday in Brussels, in a strong sign they believe a solution is near.
 
As hundreds of demonstrators faced off with riot police outside parliament late into Friday night, lawmakers inside voted to nationalize pension funds, pool state assets for a bond issue and peel good assets from bad in stricken banks.

Officials said a deal was imminent to raise 5.8 billion euros demanded by the EU in return for a 10 billion euro ($13.00 billion) lifeline, including some kind of levy on bank deposits, which could be voted on as soon as Saturday.

Without a deal by Monday, the European Central Bank has threatened to cut off cash for Cypriot banks, spelling certain collapse and possible ejection from the euro.
Cyprus moved perilously close to bankruptcy when its parliament threw out the proposed levy on Tuesday, with Cypriots enraged by plans to hit small holdings of ordinary savers as well as large accounts, many held by foreign investors.

In the absence of the bank levy, Nicosia turned to Russia, whose citizens have billions of euros at stake in Cyprus's outsized banking sector. But Finance Minister Michael Sarris returned from Moscow empty-handed. On Friday he said the bank levy was back "on the table".
Party officials told Reuters that discussions were centered on a levy on depositors holding over 100,000 euros, sparing smaller savers. One official said the tax could be limited to big savers at the island's biggest lender, Bank of Cyprus, at a 20 percent rate.

Lawmakers adopted a bill that would pave the way for the government to split its failing lenders into good and bad banks. The measure is likely to target Bank of Cyprus and No. 2 lender Cyprus Popular Bank, also known as Laiki, and would make it easier for the government to safeguard deposits that enjoy a state guarantee of up to 100,000 euros.
"With the process of consolidation, the depositors over 100,000 euros will wait for several years to see how much of their deposits they will collect," said Averof Neophytou, deputy leader of the ruling Democratic Rally party.

"At the same time, this political decision to support this harsh law safeguards 100 percent of the deposits of 361,000 depositors in Laiki Bank," he added, referring to depositors with up to 100,000 euros.

The pace of the unfolding drama has stunned Cypriots, who barely a month ago elected conservative President Nicos Anastasiades on a mandate to secure a bailout.
But lawmakers balked at hitting small savers with the bank levy, a rejection of the kind of strict austerity signed up to by Portugal, Ireland, Greece, Spain and Italy over the last three years of Europe's debt crisis.

Germany warned Cyprus it was "playing with fire". Moody's downgraded its credit rating on deposits in Cypriot banks to Caa3, just two rungs from the bottom on its 11-grade scale of junk debt.
The EU says the only way to find the 5.8 billion euros Cyprus needs to contribute to the bailout of its banks is from the depositors who put money in them.

The tottering banks hold 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros - enormous sums for an island of 1.1 million people which could never sustain such a big financial system on its own. Much of the banks' capital was wiped out by investments in Greece.
Many of the biggest depositors are foreigners, including rich Russians, and European politicians are loathe to spend taxpayers' money on a bailout if the depositors take no losses.

"EDGE OF AN ABYSS"
With banks in Cyprus closed until Tuesday, Cypriots have been besieging bank cash machines all week. Faced with an almost certain run on banks when they reopen, parliament also gave the government the power to impose capital controls.

"Our so-called friends and partners sold us out," said Marios Panayides, 65, a protester at the parliament. "They have completely abandoned us on the edge of an abyss."
Retailers, facing cash-on-delivery demands from suppliers, warned stocks were running low.
"At the moment, supplies will last another two or three days," said Adamos Hadijadamou, head of Cyprus's Association of Supermarkets. "We'll have a problem if this is not resolved by next week."
The Bank of Cyprus urged the government to go back and cut a deal with the EU under which larger deposits over 100,000 euros would be taxed. It was preferable, it said, to a collapse of the system and ejection from the euro which would wipe out assets.
"There must be no further delay," the bank said.

Taking a first step toward financial consolidation, Cyprus arranged on Friday for the takeover of big Greek units of its two biggest banks by a Greek competitor.
EU officials criticize Cyprus for initially insisting any deposit levy should hit even small savers. Cypriot leaders did not want to shift the whole burden to bigger depositors in the apparent hope of saving Cyprus's offshore banking industry.

German Chancellor Angela Merkel told lawmakers that while she wanted to keep Cyprus in the euro zone, it must first recognize it had no future as an offshore financial center, two parliamentarians told Reuters.

Her finance minister, Wolfgang Schaeuble, said that muted reactions to the crisis in financial markets showed the euro zone was able to contain the Cyprus problem.
The Dutch head of the euro zone finance ministers' group, Jeroen Dijsselbloem, said the group wanted to keep Cyprus in the currency union. But when asked, he did not rule out an exit.
"All kinds of scenarios are possible and the scenarios we're focusing on are to come to a joint solution in which Cyprus is saved but in which the banking sector continues in a smaller but healthier form."

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Thursday, March 21, 2013

Iran will destroy Israeli cities if attacked: Khamenei


Iran's clerical supreme leader said on Thursday the Islamic Republic would destroy the Israeli cities of Tel Aviv and Haifa if it came under attack from the Jewish state.
"At times the officials of the Zionist regime (Israel) threaten to launch a military invasion but they themselves know that if they make the slightest mistake the Islamic Republic will raze Tel Aviv and Haifa to the ground," Ayatollah Ali Khamenei said in an address to mark the Iranian new year.
Israel has threatened military action against Iran unless it abandons nuclear activities which the West suspects are intended to develop nuclear weapons. Tehran denies this, saying it wants nuclear energy only for civilian purposes.

 
In his televised speech, Khamenei said Iran's struggles over the past year against international sanctions imposed over its disputed nuclear program resembled a battle and that its enemies had confessed to trying to "cripple the Iranian nation".

"What happened last year, we need to learn a lesson," he said, alluding to what he described as Iran's significant scientific and military advances. "This vibrant nation will never be brought to its knees."
Khamenei also called for Iran's "natural right" to enrich uranium for nuclear energy to be recognized by the world. Western powers have refused, saying Iran has hidden nuclear work from U.N. inspectors and stonewalled their investigations.

Talks between Iran and six world powers - the United States, China, Russia, Britain, France and Germany - are to resume early next month in a further attempt to strike a deal on Iranian nuclear aspirations.But Khamenei was cool to a U.S. suggestion of direct talks between the two countries, which severed diplomatic relations after Iran's 1979 Islamic Revolution.

"I am not optimistic about these talks. Why? Because our past experiences show that talks for the American officials do not mean for us to sit down and reach a logical solution ... What they mean by talks is that we sit down and talk until Iran accepts their viewpoint," he said.
"Iran only wants its enrichment right, which is its natural right, to be recognized by the world."

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Wednesday, March 13, 2013

China May Limit Gold to 2% of Foreign Reserves,

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China is likely to limit its gold holdings to 2 percent of its total foreign exchange reserves, said Yi Gang, a deputy Chinese central bank governor.

The People’s Bank of China last made known changes to its gold reserves in 2009, announcing that it held 1,054 metric tons. The bank hasn’t made any revisions since then. That’s about 1.8 percent of its total reserves, according to data from the World Gold Council.

“If the Chinese government were to buy too much gold, gold prices would surge, a scenario that will hurt Chinese consumers,” Yi said today in a press briefing in Beijing. “We can only invest about 1-2 percent of the foreign exchange reserves into gold because the market is too small.”
The nation’s reserves, which have surged more than 700 percent since 2004, surpassed the value of all official bullion holdings in January 2004 and rose to $3.3 trillion at the end of 2012, data compiled by Bloomberg show.

Gold has fallen about 4.7 percent this year as the U.S. stocks extended a record rally amid speculation that the FederalReserve may rein in stimulus as the recovery gains traction, curbing demand for safe-haven assets.

China was expected to displace India as the biggest gold consumer last year, according to forecast in November from the producer-funded World Gold Council. Chinese investors sought to protect their wealth by buying gold, after government measures to curb real estate prices and as China’s stock market has fallen in the past decade even though nominal gross domestic product rose fourfold.

Foreign Reserves

About two-thirds of China’s foreign reserves are dollar- denominated and another quarter is in euros, according to Yao Wei, a Hong Kong-based economist at Societe Generale SA. China is now encouraging companies and residents to keep more foreign currency in a strategy known as “hiding foreign currencies among people,” meaning that the government’s foreign reserves may “gradually fall,” Yang said.

Gold capped a 12th annual advance in 2012 and rose to a record of $1,921.15 an ounce in 2011. Gold for immediate delivery were little changed today at $1,591.95 at 6:29 p.m. Beijing time.
“We will always keep gold in mind as an option in reserve assets and investments,” Yi said. “We are able to import 500-600 tons a year, or more, but we will also take into consideration a stable gold market.”


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News Source: www.reuters.com

Monday, March 11, 2013

Wall Street rally pauses on global headwinds



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Wall Street was little changed on Monday as Italy's credit downgrade and disappointing Chinese economic data gave investors a reason to pause after last week's rally that took the Dow to record highs.
Even with the slight decline, the S&P 500 index .SPX was only about 1 percent away from its all-time closing high. U.S. stocks have seen a strong gain in the first three months of the year and pullbacks have been short lived as investors look for an opportunity to buy.
"There's a lot of pent-up demand and people seem to be buying on weakness," said Alan Lancz, president of Alan B. Lancz & Associates Inc in Toledo, Ohio.
"I don't see this as anything negative from the standpoint of what the market's done throughout 2013 so far."

The S&P is up 8.7 percent since the beginning of the year, while the Dow has climbed nearly 10 percent. Markets have been cheered by signs of improvement in the U.S. economic recovery, including recent unexpected strength in the labor market.

But a number of potential roadblocks are not far from investors' minds, including worries about the euro zone debt crisis after Fitch downgraded Italy due to the country's political stalemate.
Data over the weekend from China pointed to an uneven recovery for the world's second-largest economy as inflation rose to a 10-month high in February and factory output and consumer spending were weaker than forecast.

The Dow Jones industrial average .DJI edged down 1.95 points, or 0.01 percent, at 14,395.12. The Standard & Poor's 500 Index .SPX slipped 1.89 points, or 0.12 percent, to 1,549.29. The Nasdaq Composite Index .IXIC was off 9.56 points, or 0.29 percent, to 3,234.81.

Dell Inc (DELL.O) has agreed to give Carl Icahn a closer look at its books less than a week after the activist investor joined a growing chorus of opposition to founder Michael Dell's plan to take the world's No. 3 personal computer maker private. Dell shares were up 1.1 percent at $14.31, above the take-private offer price of $13.65.

Genworth Financial Inc (GNW.N) shares jumped 6.4 percent to $10.46 following a report by Barron's that the mortgage insurer's stock could almost double in the next year, boosted by gains in mortgage and healthcare pricing.

Dick's Sporting Goods Inc (DKS.N) slumped 7.9 percent to $46.61 after the retailer reported lower-than-expected fourth-quarter results and gave a disappointing forecast.

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Friday, March 8, 2013

Gold Stages Impressive Rebound on Short Covering,

 

Gold Stages Impressive Rebound on Short Covering,

The gold market is posting an impressive price rebound in late-morning trading Friday. After hitting a fresh two-week low in the wake of a stronger-than-expected U.S. jobs report, a wave of short covering and bargain-hunting buying interest hit the gold market to drive prices well above unchanged. The fact that gold prices have been able to rally in the face of the bearish U.S. jobs report and amid a very strong U.S. dollar index Friday morning is very encouraging, from the bulls' point of view.

Also, gold prices dropped down to challenge strong technical support at the February low, but did not push below it, and then rebounded. That's another bullish clue that a market bottom is in place, or close at hand. A close above unchanged levels on Friday would give the bulls some confidence that a near-term market bottom is indeed in place. A  technically bullish weekly high close in gold prices on Friday would provide the bulls with better confidence the market has put in a near-term low. April Comex gold last traded up $5.00 an ounce at $1,580.00.

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Thursday, March 7, 2013

North Korea threatens nuclear strike, U.N. expands sanctions

North Korea threatens nuclear strike

North Korea threatened the United States on Thursday with a preemptive nuclear strike, raising the level of rhetoric just before the U.N. Security Council approved new sanctions against the reclusive country.

The White House said North Korea's threats would only lead to Pyongyang's further international isolation and declared that the United States was "fully capable" of defending against any North Korean missile attack.

China's U.N. Ambassador Li Baodong said Beijing wanted to see "full implementation" of the new U.N. Security Council resolution that tightens financial restrictions on Pyongyang and cracks down on its attempts to ship and receive banned cargo.

North Korea has accused the United States of using military drills in South Korea as a launch pad for a nuclear war and has scrapped the armistice with Washington that ended hostilities in the 1950-53 Korean War.

A North Korean general said on Tuesday that Pyongyang was scrapping the armistice. But the two sides remain technically at war as the civil war did not end with a treaty.

North Korea threatens the United States and its "puppet," South Korea, on an almost daily basis.
"Since the United States is about to ignite a nuclear war, we will be exercising our right to preemptive nuclear attack against the headquarters of the aggressor in order to protect our supreme interest," the North's foreign ministry spokesman said in a statement carried by the official KCNA news agency.
North Korea conducted a third nuclear test on February 12, in defiance of U.N. resolutions, and declared it had achieved progress in securing a functioning atomic arsenal. It is widely believed that the North does not have the capacity for a nuclear strike against the mainland of the United States.
With tensions high on the Korean peninsula, the U.N. Security Council voted unanimously to expand its sanctions on North Korea. The new sanctions were agreed after three weeks of negotiations between the United States and China, which has a history of resisting tough measures against its ally and neighbor.

The resolution specifies some luxury items North Korea's elite is not allowed to import, such as yachts, racing cars, luxury automobiles and certain types of jewelry. This is intended to close a loophole that had allowed countries to decide for themselves what constitutes a luxury good.
"These sanctions will bite and bite hard," said U.S. Ambassador to the United Nations Susan Rice.
The export of luxury goods to North Korea has been prohibited since 2006, though diplomats and analysts said the enforcement of U.N. sanctions has been uneven.

U.N. Secretary-General Ban Ki-moon, a former South Korean foreign minister, welcomed the council's move, saying in a statement that the resolution "sent an unequivocal message to (North Korea) that the international community will not tolerate its pursuit of nuclear weapons."
The success of the new measures, council diplomats said, will depend to a large extent on the willingness of China to enforce them more strictly than it has in the past.

Pyongyang was hit with U.N. sanctions in retaliation for its 2006 and 2009 nuclear tests. Those measures were subsequently tightened and expanded after several rocket launches by the North.
In addition to the luxury goods ban, there is an arms embargo on North Korea, and it is forbidden from trading in nuclear and missile technology.

George Lopez, a professor at the University of Notre Dame in Indiana and a former member of the U.N. panel that monitors North Korea sanctions compliance, said the new measures should have a real impact on North Korea's movement of money and constrain access to equipment for its nuclear and missile programs.

"Now, we may yet see another launch or a bomb test, but over the medium term this resolution will degrade DPRK capabilities to grow its program," Lopez said, using the acronym for the Democratic People's Republic of Korea.


THREATS AND WAR GAMES

North Korea's threats were the latest in an escalating war of words by both sides across the armed Korean border this week.
The North's unnamed foreign ministry spokesman said it would be entitled to take military action as of March 11 when U.S.-South Korea military drills move into a full-scale phase.
"North Korea will achieve nothing by continued threats and provocations. These will only further isolate the country and its people and undermine international efforts to promote peace and stability in northeast Asia," Rice told reporters.

President Barack Obama's administration said it had reassured South Korea and Japan "at the highest levels" of its commitment to deterrence, through the U.S. nuclear umbrella and missile defense, in the face of the new threats.

Glyn Davies, the State Department's point man for North Korea, also said in testimony prepared for a Senate hearing that Washington will not accept North Korea as a nuclear state.
Russia's U.N. Ambassador Vitaly Churkin called for restraint and an end to the threats. "Let's keep our minds cool and keep focused on the need for the only possible rational course of action, and that is returning to six-party talks," he said.

North Korea, which held a mass military rally in Pyongyang on Thursday in support of its recent threats, has protested against the U.N. censures of its rocket launches. It says they are part of a peaceful space program and that the criticism is an exercise of double standards by the United States.
The North's shrill rhetoric, however, rarely goes beyond just that. Its last armed aggression against the South in 2010 came unannounced, bombing a South Korean island and killing two civilians. It was also accused of sinking a South Korean navy ship earlier in the year, killing 46 sailors.
North Korea was conducting a series of military drills and getting ready for state-wide war practice of an unusual scale, South Korea's defense ministry said earlier.

South Korea and the United States, which are conducting annual military drills until the end of April, are watching the North's activities for signs that they might turn from an exercise to an actual attack, said South Korea's defense ministry spokesman Kim Min-seok.

Kim declined to confirm news reports that the North has imposed no-fly zones off its coasts in a possible move to fire missiles, but he said any flight ban limited to near the coast would not be for weapons with meaningful ranges.

South Korea's military said in a rare warning on Wednesday that it would strike back at the North and target its leadership if Pyongyang launched an attack.

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News Source: www.reuters.com

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Wednesday, March 6, 2013

Century Financial Brokers Official Video


Century Financial Brokers Official Video...




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Century Financial Brokers location map


 CENTURY FINANCIAL BROKERS LOCATION MAP








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Tuesday, March 5, 2013

STOCKS TRADE LEVEL

05/03/2013

 

Cameron International Corporation  (Public, NYSE:CAM) 

Buy@ 60, Stop below@59, Target@64

Nabors Industries Ltd.  (Public, NYSE:NBR) 

Buy@15, Stop below@13.50, Target@19

Altria Group Inc  (Public, NYSE:MO)

Buy@33.80, Stop below@33, Target@35.50

Apollo Group Inc  (Public, NASDAQ:APOL) 

Buy@16, Stop below@14, Target @Open
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News Source: www.marketwatch.com  

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Saturday, March 2, 2013

Gold Survey: Split Views On Gold Price Direction Seen In Gold Survey

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There is no clear majority on the direction of gold prices for next week, as survey participants in the weekly World News Gold Survey differ in their view of where the yellow metal’s price might travel.

In the World News Gold Survey, out of 33 participants, 29 responded this week. Of those 29 participants, 13 see prices up, while eight see prices down, and eight see prices moving sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.

Those who see higher prices said gold could be forming a potential bottom around the $1,550s, which if it holds, could portend higher prices. Others cited physical buying and the continued underlying support of ultra-loose central bank monetary as supportive for prices. Ideas that the gold market has reached a good value area have others suggesting a price rebound.

“With bullish sentiment reaching historically low levels … futures hitting multi-month lows (and) mandatory government spending cuts activated, I would expect bargain hunters to start searching for a bottom and a sharp recovery to develop into the market,” said Phil Streible, senior commodities broker at RJO Futures.

Participants who see weaker prices cite the market’s inability to hold over $1,600 an ounce and the bearish short-term technical chart picture for gold.

Those who are neutral or see prices trading sideways said they want to watch to see how the market develops as it trades under $1,600, especially as sentiment in the market remains negative and equities grab the headlines and investor interest.

“Technically gold remains in the negative mode; however, the $1,550 level is the beginning, we believe, of a base-building process. For this coming week we expect to see more two-way action and broad trading range,” said Adam Hewison,

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News Source: www.bloomberg.com

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