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Europe's banking watchdogs have agreed to refrain from a further tightening of the "stress test" rules for the region's banks - Handelsblatt newspaper said

An accord on Wednesday after a telephone conference and the agreement is expected to be formally approved by the EBA at a meeting next week, the paper said

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ADB Trims East Asia Growth Outlook Amid European Debt Concerns

 

The Asian Development Bank, or ADB, on Tuesday slashed the growth expectations for the East Asian economies amid concerns that the growing sovereign debt problems in Europe and an anemic U.S. economy could raise the specter of a deep global economic downturn.

 

The economic fallout from a sharp contraction of the Eurozone and the U.S. economies on the emerging East Asia would be "serious yet manageable," the lender said in its latest edition of the Asia Economic Monitor.

The ADB now expects the region's economy to expand 7.2 percent in 2012 compared to 7.5 percent forecast in the September Asian Development Outlook 2011 Update. The growth outlook for this year was maintained at 7.5 percent.

 

"The turmoil emanating from Europe poses a growing danger to trade and finance within emerging East Asia; so the region's policymakers must be prepared to act promptly, decisively, and collectively to counter what could be an extended global economic slowdown," said Iwan Azis, head of ADB's Office of Regional Economic Integration.

 

In the worst case scenario, with the Eurozone and the U.S. contracting as much as they did in 2009, emerging East Asia would grow 5.4 percent next year. That was not as severe as the impact of the 2008-09 global crisis, due in part to diversification of the region's export markets and increased domestic demand as a source of growth, the ADB report said.

 

Inflation appears to have peaked, but remains a concern for several economies, according to the report. The major downside risks to the outlook for emerging East Asia were a deep recession in both the Eurozone and the U.S., protectionism or tight trade finance, destabilizing capital flows, and persistent or resurgent inflation.

The lender cut the growth forecast for the People's Republic of China to 8.8 percent in 2012 from 9.1 percent predicted in September. China is expected to grow 9.3 percent this year.

 

The report forecasts the Eurozone economy to expand 0.5 percent next year with the U.S. economy growing 2.1 percent. For 2011, ADB is still forecasting growth of 1.7 percent and 1.6 percent for the two economies respectively. The four middle-income economies of the Association of Southeast Asian Nations, Indonesia, Malaysia, the Philippines, and Thailand, are expected to grow 4.5 percent in the second half against 4.9 percent in the first six months.

Thailand, hit particularly hard by the recent floods, should recover from supply disruptions next year. ADB sees Thailand's economy growing 2 percent this year and 4.5 percent in 2012.

 

Japan's economy is forecast to bounce back from the effects of the recent natural disasters as supply chains are rebuilt, but the strong yen will likely hurt exports while domestic demand is likely to remain weak, the report said. As such, ADB continues to forecast a contraction of 0.5 percent this year followed by a 2.5 percent expansion next year.

 

The biggest policy challenge facing emerging East Asia is how to safeguard the region's robust growth against the threat of another global economic crisis, ADB said.

The lender suggested a "cautious and prudent" macroeconomic policy for emerging East Asia in view of the rising risks of faltering global recovery and the unfolding Eurozone sovereign debt crisis.

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Dollar Turns Lower On Strong German Factory Data

 

The dollar showed little direction versus other major currencies on Tuesday, failing to sustain its overnight gains against the resilient euro.

A brief rally brought on by S&P's downgrade warning on Germany and France fizzled out, leaving the dollar within its stubborn trading range against the euro.

The pair was at $1.3425 this morning, after the dollar topped out at $1.3322 overnight.

 

German factory orders recovered at a faster-than-expected pace after falling for three consecutive months suggesting that the power house of Eurozone is yet to see a general slowdown in the fourth quarter.

Fueled by foreign demand, factory orders grew 5.2 percent in October from a month ago, the Federal Ministry of Economy and Technology reported Tuesday.

Yesterday, S&P ratings agency placed its long-term sovereign ratings on 15 eurozone nations on CreditWatch with negative implications.

S&P said its decision to put the countries, including Germany, France, the Netherlands, Austria, Finland and Luxembourg that enjoy the rating firm's highest, triple-A rating, on CreditWatch negative was prompted by its belief that systemic stresses in the eurozone have risen in recent weeks to the extent that they now put downward pressure on the credit standing of the eurozone as a whole.

On Monday, French President Nicolas Sarkozy and German Chancellor Angela Merkel pledged to fight for a new euro zone treaty with greater fiscal unity among member states.

 

In Italy, Prime Minister Mario Monti unveiled deep austerity measures and tax increases over the weekend.

In other economic news, the euro area economy logged a modest expansion in the third quarter, latest data published by Eurostat confirmed Tuesday.

Gross domestic product grew 0.2 percent sequentially, in line with the initial estimate and matched the expansion seen in the second quarter.

The dollar drifted slightly lower to Y77.70 versus the yen, and barely budged near $1.5620 versus the sterling.

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Australian Leading Employment Index Rises For Fourth Month

 

Australia's leading indicator of employment improved for the fourth straight month in December, the Department of Education, Employment and Workplace Relations said Wednesday.

 

The corresponding index rose by 0.071 in December compared to an increase of 0.089 points in the previous month. However, DEEWR said it is still too early to confirm that a quickening in employment growth is in prospect, because the indicator has risen for fewer than six consecutive months.

 

Moreover, cyclical employment has now fallen for the tenth consecutive month.

The leading indicator is designed to give advance warning of turning points in cyclical employment, which is measured as the deviation of the one-year trend in employment from the six-year trend.

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Monitoring the demo contest FBS really full of surprises, see update this morning,

http://i1207.photobucket.com/albums/bb472/abory/2011-12-08_094757.jpg

http://www.fbs.com/contest/999/participants

 

the participants up and down, really competative contest

 

i already join demo contest 999 but i'm not participate yet.

because i've a lot of things that i'v to do in my office

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i already join demo contest 999 but i'm not participate yet.

because i've a lot of things that i'v to do in my office

 

There is still time left before the end of the contest, you still can try your fortune.

Althought you can not be the winner, but you have try and do the best as you can do.

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There is still time left before the end of the contest, you still can try your fortune.

Althought you can not be the winner, but you have try and do the best as you can do.

 

yes sir.. i will...

may be for next week i will try to trading in demo contest 999..

because my boss is going abroad. so i ve many times to trading

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Sensation: Get FBS MasterCard for FREE!

 

FBS announces the start of new unprecedented promotion: “Get FBS MasterCard® for free”! Appreciate deposit and withdrawal potions at FBS at its value with

 

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- withdraw money from several accounts if they are registered on your name

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- pay for products and services in any part of the world

 

To get more information, please, cilck http://www.fbs.com/promotion/mastercard_club.

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Sensation: Get FBS MasterCard for FREE!

 

FBS announces the start of new unprecedented promotion: “Get FBS MasterCard® for free”! Appreciate deposit and withdrawal potions at FBS at its value with

 

the free Prepaid FBS Payoneer MasterCard!

 

 

payoneer_fbs

 

 

With Prepaid FBS Payoneer MasterCard you can:

 

- withdraw money from several accounts if they are registered on your name

- withdraw money from your trading account to it, even if you deposited via electronic payment system or bank wire

- check your card’s account balance on the Internet and replenish it on the Payoneer payment system website

- pay for products and services in any part of the world

 

To get more information, please, cilck http://www.fbs.com/promotion/mastercard_club.

 

I have not had a card masterd FBS until now :))

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I have not had a card masterd FBS until now :))

 

me too brother.

cause i dont need credit card for this time.. i just need a lot profit hehehee..,,

hoping FBS will give us another promotion

 

if i had consistance get profit from trading with FBS, i will make a FBS master card.

because i will go around the world and nee credit card to pay my purchase >:)

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