The Fed statement Cut on Gain on Wall Street

The Fed statement Cut on Gain on Wall Street

Action major selling in the late session gains cut, making the stock index on Wall Street ends flat. A statement from U.S. Central Bank cut its success positive sentiment from strong retail sales figures for November.

The U.S. central bank said in a statement explaining its policies, economic recovery is still too weak to reduce unemployment. The Fed also confirmed its commitment to purchase securities by $ 600 billion.

The statement was immediately picked up the securities yield higher and push financial stocks, which hit hard by high interest rates.

"I was a bit disappointed the Fed did not see the world with the same light level as seen investors," said Andrew Wilkinson, senior analyst at Interactive Brokers Group, as quoted by Reuters on Wednesday (15/12/2010).

In trading Tuesday (12/14/2010), the Dow Jones closed rose 47.98 points (0.42%) to the level 11476.62. The broader Standard & Poor's 500 likewise rose 1.13 points (0.09%) to a level of 1241.59 and the Nasdaq rose 2.81 points (0.11%) to a level of 2627.72.

Stocks could move higher after data showed retail sales rose for the fifth consecutive month during November. These data confirm the rebound from the side as well as consumer spending, which accounts for two thirds of the U.S. economy.

But Best Buy Co. Inc. shares slumped after the big U.S. electronics retailer posted earnings that were lower than expected during the third quarter of 2010. Best Buy also cut its 2010 profit projection. Best Buy shares immediately dropped 14.8% while the S & P retail index fell 0.5%.

banking sector stocks dropped the most sharply with GSPF index down 0.9% and become the largest sector, which dropped from S & P. Shares of JPMorgan Chase & Co. fell 1.7%.

Trading was very quiet with transactions on the New York Stock Exchange only as much as 7.2 billion shares, below the average so far this year which amounted to 8.61 billion shares.

The Case TKI in Saudi Arabia Under Investigation

The Case TKI in Saudi Arabia Under Investigation

The government is still investigating the placement process and the protection of barbed Sumiati binti Mustapa and Kikim Komalasari Salan, Indonesian workers in Saudi Arabia. Ministry of Manpower and Transmigration promised to impose sanctions worth it if found evidence of violations of procedures for placement and protection of migrant workers.
Minister of Manpower and Transmigration Muhaimin Iskandar said this after launching the products Kemnakertrans in Jakarta, Thursday (11/25/2010).
"We're still waiting for reports and results of our investigation team. When the normal recruitment process, full administration, ser tifikat there, it is wrong not Sumiatinya but his employer," said Muhaimin.
Muhaimin revealed until now, the investigation team that was already in Saudi Arabia can not conclude whether the departure of the two workers was problematic and there are indications of falsification of documents.
The team will continue to conduct intensive checks to ensure the procedures used to dispatch the two workers are correct to impose an appropriate sanction.
"We also will conduct an investigation regarding the implementation of skills training prospective workers a minimum of 200 hours If you really do not have the competence there are two parties that we act, worker training institutions and institutions Implementing Private Placement of Indonesian Workers (PPTKIS)," said Muhaimin.
Minister also explained the results of joint coordination meetings at least 250 PPTKIS Middle East region in the Office Kemnakertrans, Kalibata, Jakarta, Wednesday (24/11/2010). Muhaimin said, employers have expressed readiness services workers carry the government's decision, including temporary suspension of migrant worker placement of domestic workers to Saudi Arabia.
"No PPTKIS which states were unwilling or reject the moratorium. They're just waiting for the government's decision," added Muhaimin.
Minister asserted that the government has tightened supervision of migrant worker placement, which among other things by adding officers. Muhaimin reminded the businessmen to get ready.
We will not compromise again against such violations and unhealthy shelter locations that rely on recruitment of brokers. PPTKIS be responsible for the recruitment of lower level, said Muhaimin.
Previously, the team raided the location of the shelter workers Kemnakertrans in Condet Jalan Raya, East Jakarta. Head of Public Relations Kemnakertrans Suhartono revealed, the team received reports of society and find the location of shelters that do not deserve it.
According Suhartono, the team found the businessman TKI services were allegedly detained 60 migrant workers returning home Dompu, West Nusa Tenggara, O ng, to go to his village. The team also found eight workers who will be sent to Jordan, who since July 30, 2010 had stopped minister because many cases of migrant worker rights violations that occurred and still not complete.

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4 Contract Extended Oil and Gas, Oil Production Add 174 Million Barrels

4 Contract Extended Oil and Gas, Oil Production Add 174 Million Barrels

 Jakarta - The government is targeting additional oil production of 174 million barrels and 1.78 trillion cubic feet of extension of contract management within four blocks of 20 years.
With the addition of that, then the new petroleum reserves that will be acquired is estimated at 321 million barrels, new natural gas reserves of 2.4 trillion cubic feet.
This was conveyed by the Director General of Oil and Gas, Energy and Mineral Resources Ministry, Evita Herawati Legowo in signing a contract extension of four oil and gas blocks in the Office of the Ministry of Energy and Mineral Resources, Jalan Medan Merdeka Selatan, Jakarta, Thursday (28/10/2010).
"Oil production will be generated during the renewal period is 174 million barrels and natural gas production 1.78 trillion cubic feet," said Evita.
Investment plan which will be issued on the fourth of this extended work area is U.S. $ 4.58 billion.
In the working area to be extended, further Evita, exploration commitment to the activities to be carried out seismic surveys and exploration drilling amounted to U.S. $ 155 million. Exploration commitment is needed to maintain the continuity of oil and gas production.
"In addition, it also represents the efforts to find new oil and gas reserves," he explained.
Evita said the fourth extension of the contract is made in two languages ie English and Indonesian. The fourth contract is the first Indonesian-language contract.
"Later contracts that will come also we make in two languages," he said.
As is known, on this day the government has extended the four blocks of South and Central Sumatra block, block A, block Bawean, and Block Madura Strait.
Block south and central Sumatra operated Medco E & P, where there are existing contracts that will expire on November 27, 2013. Block A in Aceh, which also operated PT Medco E & P Malaka, the existing contract expired August 31, 2011.
Then Bawean block, operated by the Java Sea Gull Resources Canada Inc.. Where existingnya contract will expire February 6, 2011 and the last to block Madura Strait Madura operated by Husky Oil Ltd., the existing contract expired on October 19, 2012.
"The maximum time period of 20 years," he said.

JK Trapped 4 Hours Due to Rain and Flooding in Jakarta

JK Trapped 4 Hours Due to Rain and Flooding in Jakarta

Jakarta - Heavy rain on Monday (25/10) resulted in almost the entire pool of water surrounded Jakarta. Long traffic jams had become scene that night.
The situation is getting worse, when entered at home office. As a result the rider to spend long hours on the road to get to the house.
It is also felt by former Vice President Jusuf Kalla. The man who was familiarly called JK spent over 4 hours more to get to his residence.
"Well I stuck 4 hours, 4 hours 10 minutes," JK said when met at the Central Red Cross Office, Jl Gatot Subroto, Jakarta, Thursday (10/28/2010).
JK also tells about his first experience in the middle of the long traffic jam. When heavy rain falls, JK was crossing the area, Jl Rasuna Said, Kuningan.
"And I was from Brass'm going to my house in Kebayoran," the story of JK.
Genesis tonight, according to JK is a valuable lesson for all parties not just the local government of DKI Jakarta. The Central Government also needs to provide solutions for every rain falls, people do not have trauma due to standing water resulting in long kemacetasn.
"Yes, let us help each party who has the ability to help, government should immediately repair the gutter. And central government should also help, especially for a large portion. Like when I first BKT ready in two years," explained the mustachioed man this.
JK also said the public is also very important role in tackling congestion capital of which is not described again.
"The community should also help by not littering, and if you can ride public transportation alone, and for those who have real estate must be established with good planning. All must help, and down tanga," a senior politician's Golkar Party.
To the Governor of DKI Jakarta Fauzi Bowo, JK advised to keep the spirit of work and do not be discouraged respond to any criticism from the public. JK would like to forward Foke more daring to make a breakthrough for the sake of a better Jakarta.
"My best work, answer it (every public question) very well. We've done well but it certainly should be better again," he added.
"The government should have taken action from the highest risk. And do not always blame nature," said JK