Small Business Idea

International Monetary Fund (IMF) on Friday extended loans “prevention” 20 billion dollars to Poland, because the country’s efforts with a fragile global economic recovery. The IMF executive board approved the request of Poland for the Flexible Credit Line (FCL) a year, the IMF said in a statement.

“The Government of Poland intends to treat the settings (credit) as a precaution and does not intend to withdraw from the FCL,” said 187 institutions based in Washington State.

Poland has benefited, between May 2009 and May 2010, the IMF provided a credit line for countries with a strong track record and is “designed for crisis prevention.” Once uncertainty about the update, because the first dispute between central banks and governments about the issue, then followed the death of President Lech Kaczynski and the central bank chief Slawomir Skrzypek in a plane crash on 10 April, the Polish government turned once again to the IMF for loans. Read the rest of this entry »

World gold prices bounced back after a number of central banks in Europe have stopped selling gold reserves.

Gold for December delivery closed up 50 cents to U.S. $ 1,298.60 per ounce (28.35 grams) on the Comex division of the New York Mercantile Exchange. The highest price of gold traded at U.S. $ 1,301.30 U.S. $ 1,295.80 and the lowest on Monday, September 27, 2010.

Some analysts predict gold prices will rise to $ 1,500. In the report Motle Fool, several members of the Central Bank Gold Agreement (CBGA) that central banks from the euro zone, Switzerland, and Sweden, have lowered gold sales up to 6.2 tons in the past year. The sale is much less when compared with an average annual 388 tones during the last decade.

In addition, the German who holds the second largest gold reserves after the United States, announced that it would sell its gold reserves. In fact, before Germany could sell more than 6.5 tons per year. “Perhaps the central bank (Deutsche Bundesbank) and the German Finance Ministry wants to hedge,” the report said.

Poll conducted at the annual conference of the London Bullion Market Association (LBMA), also concluded the same. The price of gold will move to the level of U.S. $ 1,500.

Through electronic communications equipment in the area of the conference, delegates voted to give the gold price September 2011. As a result, most of the delegates predicted U.S. $ 1,406, while the remaining 32 percent of estimated U.S. $ 1,500.

World Bank to lend 800 million U.S. dollars to Mexico to assist in the transformation of public transport to reduce emissions, and various other programs, said World Bank president Robert Zoellick in Mexico on Wednesday. The loan includes 450 million U.S. dollars for social programs, water and infrastructure, said the Minister of Finance of Mexico Ernesto Cordero during a joint press conference in Mexico City, as quoted from the AFP.

Meanwhile, another 350 million U.S. dollars was including 200 million U.S. dollars from the Clean Technology Fund (Clean Technology Fund), a climate investment funds. Will support the modernization of public transportation throughout Mexico in order to reduce emissions and also improve service, said Cordero. Read the rest of this entry »

Shares of United States surged on Tuesday, after a positive start to the season second-quarter earnings, pushing the market ahead of Wall Street for the sixth consecutive day. The blue-chip stock index Dow Jones Industrial Average rose 30 146.75 points (1.44 percent) to end at 10363.02. Technology-heavy Nasdaq composite index rose 43.67 points (1.99 percent) to 2242.03 and the broader market S & P 500 index leapt 16.59 points (1.54 percent) to 1095.34.

“Rally today is the continued search for bulls` (passion),” said Ryan Detrick of Schaeffer `s Investment Research.

“While very light volume, earnings season has started strong, and we’ll see how long the bulls can stay in control.”

Dow member Alcoa, the unofficial start of the second quarter earnings season with a bang after the market close Monday, reported a swing into profit and increased projections for global demand. Read the rest of this entry »

Obama and President Lee Myung-bak met at the summit of G-20 and agreed to continue talks on economic and security issues.

U.S. and South Korea agreed to return to the stalled free-trade issue and postpone plans for Seoul to take full control over its military operations in wartime.

After the meeting on Saturday with South Korean President Lee Myung-bak at the G-20 summit in Toronto, U.S. President Barack Obama said he wanted to resolve the issues still remaining on the free trade agreement before the next G-20 summit in November.

Obama stated it will submit the draft to Congress a few months afterwards.

The two leaders also agreed to postpone until the year 2015 transfer of control from Washington of South Korean troops during wartime, in order to strengthen the displacement plan.

Lee and Obama also say they will do anything to suppress acts of aggression of North Korea, following the sinking of a South Korean warship which, according to U.S. and South Korea, conducted by North Korea.