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Jan
16
0

Status of French Credit Rating Down

Credit rating agency Standard & Poor’s (S & P) downgraded bonds in one of the major European economies, France. Not only that, debentures eight other European countries, who are also fellow users euro currency (euro zone) came down the rankings, there’s even coming into the category of “trash.”

Credit downgrades illustrates that the debt crisis in the eurozone in the past two years has become more severe. This crisis raises doubts among financial market participants for the future of regional currencies in Europe.

According to news agency Reuters, bond downgrades number of European countries was announced at the S & P on Friday, January 13, 2012 New York time. France, which has become one economic power in Europe with Germany, has decreased one level, from AAA to AA +. The same fate also experienced by Austria.

Malta, Slovakia, and Slovania also decreased one level. Their colleagues, Italy, Spain, Portugal, and Cyprus suffered a decrease of two ranking. In fact, as reported by the BBC, the credit status of the latter two countries that fall into the category of “junk” (junk).

Germany, for the S & P, still survive. Treasury bond remains AAA and economic status is considered stable.

S & P also claimed to fear that a number of initiatives that have been rolled out of European leaders in the face of the debt crisis “could be not enough to fully respond to systemic pressure that goes on within the euro zone.”

A number of countries are already implementing unpopular measures in tackling the crisis, namely by implementing austerity budgets and raise taxes. That policy led to a wave of layoffs among civil servants and triggering a series of protests.

The fall in credit ratings in a number of European countries could trigger a series of similar downgrades on some major banks and large corporations and government agencies of Europe. It can happen to the European Financial stabilization facility (EFSF), which formed to save the euro zone countries affected by financial crisis.

S & P’s announcement triggered the stock price decline on the New York and the euro exchange rate on the transaction on Friday.

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Jan
15
0

Worldwide, Indonesia Most Optimistic Welcomes 2012

Despite being volatile, is generally optimistic people in the world would be better in 2012. Nearly three-quarters of the 24 countries surveyed in this state.

Ipsos / Reuters held a survey to find out what ideas they have for next year based on those experienced in 2011. “All indicators show even though people worry about today, but there is a glimmer of hope in the future,” said Clifford Young, Senior Vice President Ipsos Public Affairs.

Optimism is felt most strongly in France and Indonesia, where 91 percent of people think 2012 will be a better year. Following after that Brazil (90 percent) and India (89 percent).

Italy, Japan and Sweden the least optimistic with this new year, only 45 percent respectively, 46 percent and 55 percent who rate the better. While Hungary at the rate of 56 percent and the UK in numbers 58 percent.

“Europe is still a problematic place. Not to solve all problems,” said Young. “But in North America, particularly the United States, has seen signs of progress.”

Seventy-four percent of Americans shows optimism in 2012. “They look so much better conditions: a little more job stability, the ability to put less food on the table,” he said.

But only four of 10 respondents, amounting to 21,245 people around the world are assessing the global economy will be stronger in 2012. France, Hungary, Belgium, Italy and Sweden are the least to see a stronger global economy. But the majority in India, Brazil, Indonesia and Saudi Arabia believe the global economy will be strengthened.

Surveys show that young, affluent and educated are the most optimistic for 2012. Nearly 80 percent of young people under the age of 35 years believes the new year will be better.

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Jan
14
0

Nike Finally Overtime Pay Thousands of RI workers

Nike

Nike

Device manufacturers Nike Inc will pay overtime pay thousands of workers on their factory in Indonesia. Previously, overtime pay of U.S. $ 1 million (Rp9, 1 billion) this was not paid by a company headquartered in the United States.

Reporting from Washington Post, Thursday, January 12, 2012, payment of overtime from Nike will begin early next month. According to the National Labor Union (SPN), which represents 4500 workers of PT Nikomas, shoe maker Nike factory in Banten, Nike did not pay the wages of 600,000 hours of overtime for two years.

Bambang Wirahyoso, chairman of NES, said that the overtime pay of U.S. $ 1 million obtained following negotiations for 11 months. This amount was thought still too small compared to what is experienced by workers in Nikomas for 18 years.

“The practice of working overtime without pay has actually happened in Nikomas for 18 years, but the law in Indonesia only allows compensation for two years,” said Wirahyoso in a statement, quoted from the BBC news station.

Nevertheless, he said that the case would be a kind of whip for workers seven days a week without overtime pay they deserve. “This case will be a whip for the movement of workers in Indonesia. We’ve just started,” he continued.

Nike said in a statement the company said it will make corrections in the performance of well-being of workers. In addition, Nike also offers training programs and establish a task force to accommodate the aspirations of the workers.

“Nike factories in support of their action plan and efforts to correct deficiencies in existing policies in protecting the rights of workers. Nike will continue to monitor and support their efforts in improving the situation,” wrote Nike said in a statement.

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Nov
9
0

Foreign Investment Wave Assault Indonesia

Secretary of Commerce

Secretary of Commerce

Secretary of Commerce as well as executing the task of Investment Coordinating Board (BKPM) Gita Irawan Wirjawan said at Summit (Summit) ASEAN in Bali on November 16 to 18 there will be a wave of investment from foreign companies. ”Tens of billions of dollars, this is an incredible opportunity,” said Gita Wirjawan, at a press conference ASEAN Business and Investment Summit 2011, in the auditorium of Ministry of Trade, Jakarta, Wednesday, November 9, 2011.

The first wave, said Gita, a South Korean company Posco is from already committed to invest around U.S. $ 6 billion, and Handcooc approximately U.S. $ 1.2 to 1.5 billion. “Korea’s huge investment,” he said. Then, a second wave of Indian origin who have been very interested in investing in Indonesia. Not only the natural resources sector, but also in other sectors.

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Nov
8
0

Dahlan Iskan Criticism Cultural Fear of Bosses

Dahlan Iskan

Dahlan Iskan

State Minister for State Owned Enterprises (SOEs) Dahlan Iskan Ministry criticized the ranks of state-owned cultural climate that is considered too afraid of the boss. He hopes that culture can change in two years. Dahlan told in the first week he served as Minister of SOEs, he held a leadership meeting to discuss about the SOE SOE duafa. In a meeting last he took the decision that the state duafa should be acquired by state-owned companies that want to create a subsidiary.

But ultimately the decision of the Minister of SOEs became chaotic because there were several state-owned enterprises in the form of a public company (Perum) such as the National Film Company Perum (PFN). He is currently thinking of a way out that is specific to SOEs duafa Perum shaped.

“Meeting the first week to discuss the company duafa no one to remind me that Housing can not be taken into subsidiary companies,” he said in Jakarta on Wednesday, November 9, 2011. read more

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