Islamic Economics is a social science which studies the economic problems of the people who dilhami by Islamic values [1]. Islamic economic cooperation or economic system is different from capitalism, socialism, and state welfare (Welfare State). Is different from capitalism as opposed to the exploitation of Islam by the owners of capital to the poor laborers, and prohibits the accumulation of wealth [2]. In addition, the economy in the Islamic goggles are recommended as well as the demands of life that has a dimension of worship.
Islamic economic differences with the conventional economic
! Main article for this section are: Islamic Economics vs. conventional economic
Islamic economic system is very different from the capitalist economy, socialist or communist. Islamic economic nor in the midst of the economic system is the third. Very contrary to the capitalist a more individualized, a socialist who provide nearly all responsibility to its citizens and communist extremes [1], the Islamic economy and determine which form of trade that perkhidmatan can and can not in transaksikan [4]. Economics in Islam must be able to provide welfare for the whole community, provide a sense of justice, togetherness and family and able to provide greater opportunities for every business.
Characteristic of Islamic economics
Not much is mentioned in the Qur'an, and only the principles underlying it. For reasons that are very precise, the Qur'an and Sunnah lot of talk about how Muslims should behave as producers, consumers and owners of capital, but only a little about the economic system [5]. As expressed in the discussion above, in the Islamic economy should be able to provide greater opportunities for every business. In addition, Islamic economics emphasizes four qualities, among others:
1. Unity (unity)
2. Balance (equilibrium)
3. Freedom (free will)
4. Responsibility (responsibility)
Humans as representative (the Caliph) of God in the world is not likely to be individualistic, because all the (wealth) is in the earth belongs to God alone, and man is his belief in the earth [2]. In running its economic activities, Islam is forbidden usury activities, which in terms of language means "excess" [6]. In the Quran surah Al Baqarah verse 275 [7] mentioned that people who eat (take) usury [8] can not stand but as stands the devil possessed people because (pressure) derangement [9]. Their situation is such that, is because they say (think), actual trading is like usury, but Allah has justifies the sale and purchase and forbids usury ..
Selasa, 27 Oktober 2009
Economic Development
Economic development is a process of increase in total income and income per capita by taking into account the population and is accompanied by fundamental changes in the economic structure of a country.
Economic development can not be separated from economic growth (economic growth); economic development to encourage economic growth, and vice versa, facilitate the economic growth process of economic development.
What is meant by economic growth is the increase in production capacity of an economy are realized in the form of an increase in national income [1]. A country is said economic growth in the event of an increase in real GNP in the country. The existence of economic growth is an indication of the success of economic development.
The difference between them is the success of economic growth more quantitative, ie the increase in income and the standard output is produced, whereas the more economic development is qualitative, not only increase production, but there are also changes in the structure and allocation of production inputs on various sectors of the economy such as in institutions, knowledge, and techniques.
[edit] Factors
Natural resources owned by affecting economic development.
There are several factors that affect the growth and economic development, but in essence these factors can be grouped into two, namely economic factors and noneconomic factors.
Economic factors that affect economic growth and development of which is the natural resources, human resources, capital resources, and expertise or entrepreneurship.
Natural resources, including land and natural resources such as soil fertility, climate / weather, forest products, mining, and seafood, greatly affect a country's industrial growth, particularly in the provision of raw materials production. Meanwhile, skills and entrepreneurship needed to process raw materials from nature, becomes something that has a higher value (also known as the production process).
Human resources also determine the success of national development through the number and quality of the population. Large number of population is a potential market to market production results, while the quality of the population determines how much productivity is there.
Meanwhile, capital resources humans need to process these raw materials. Capital formation and investment aimed to explore and cultivate wealth. Capital resources in the form of capital goods is very important for the development and facilitation of economic development because of capital goods may also increase productivity.
Noneconomic factors include socio-cultural conditions in society, the political situation, and developing systems and regulations.
Economic development can not be separated from economic growth (economic growth); economic development to encourage economic growth, and vice versa, facilitate the economic growth process of economic development.
What is meant by economic growth is the increase in production capacity of an economy are realized in the form of an increase in national income [1]. A country is said economic growth in the event of an increase in real GNP in the country. The existence of economic growth is an indication of the success of economic development.
The difference between them is the success of economic growth more quantitative, ie the increase in income and the standard output is produced, whereas the more economic development is qualitative, not only increase production, but there are also changes in the structure and allocation of production inputs on various sectors of the economy such as in institutions, knowledge, and techniques.
[edit] Factors
Natural resources owned by affecting economic development.
There are several factors that affect the growth and economic development, but in essence these factors can be grouped into two, namely economic factors and noneconomic factors.
Economic factors that affect economic growth and development of which is the natural resources, human resources, capital resources, and expertise or entrepreneurship.
Natural resources, including land and natural resources such as soil fertility, climate / weather, forest products, mining, and seafood, greatly affect a country's industrial growth, particularly in the provision of raw materials production. Meanwhile, skills and entrepreneurship needed to process raw materials from nature, becomes something that has a higher value (also known as the production process).
Human resources also determine the success of national development through the number and quality of the population. Large number of population is a potential market to market production results, while the quality of the population determines how much productivity is there.
Meanwhile, capital resources humans need to process these raw materials. Capital formation and investment aimed to explore and cultivate wealth. Capital resources in the form of capital goods is very important for the development and facilitation of economic development because of capital goods may also increase productivity.
Noneconomic factors include socio-cultural conditions in society, the political situation, and developing systems and regulations.
Microeconomics
Micro economics (often also written microeconomics) is the branch of economics that studies how individuals and corporate customers as well as determination of market prices and quantities of factor inputs, goods and services bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which will determine the price and how prices, in turn, determine the supply and demand of goods and services. [1] [2] Individuals who do a combination of consumption or optimal production, together with other individuals in the marketplace, will establish a balance in the macro scale; with the assumption that all else equal (ceteris paribus).
The opposite of the micro economy is the macro economy, which discusses the overall economic activity, especially regarding economic growth, inflation, unemployment, economic policies related to [3], and the impact of various government actions (eg changes in tax rates) on these matters
Overview
One of the goals of microeconomics is to analyze market mechanisms that establish relative prices of products and services, and the allocation of limited resources amongst many alternative uses. Microeconomics analyzes market failure, where markets fail to produce efficient results and explain the theoretical conditions needed for a perfectly competitive market. Research areas are important in microeconomics, including a discussion of general equilibrium (general equilibrium), the market situation in asymmetric information, choice under uncertainty, and economic applications of game theory. Also considered is the elasticity of products in the market system
The opposite of the micro economy is the macro economy, which discusses the overall economic activity, especially regarding economic growth, inflation, unemployment, economic policies related to [3], and the impact of various government actions (eg changes in tax rates) on these matters
Overview
One of the goals of microeconomics is to analyze market mechanisms that establish relative prices of products and services, and the allocation of limited resources amongst many alternative uses. Microeconomics analyzes market failure, where markets fail to produce efficient results and explain the theoretical conditions needed for a perfectly competitive market. Research areas are important in microeconomics, including a discussion of general equilibrium (general equilibrium), the market situation in asymmetric information, choice under uncertainty, and economic applications of game theory. Also considered is the elasticity of products in the market system
Assumptions and definitions
The theory of supply and demand usually assumes that markets are perfectly competitive. This implies that there are many buyers and sellers in the market, and none of them have the capacity to influence prices of goods and services significantly. In many real-life transactions, this assumption fails because some individuals (both buyer and seller) have the ability to influence prices. Often, it takes a more in-depth analysis to understand the demand-supply equation of a good. However, this theory works well in simple situations.
Economic mainstream (mainstream economics) does not assume a priori that markets are preferable to other forms of social organization. In fact, much analysis is devoted to cases where so-called "market failures", which led to the allocation of resources suboptimal, when viewed from a certain perspective (an example is simply the toll road, which benefits everyone to use but do not directly benefit them to finance it). In this case, economists will try to find policies that will avoid waste directly under government control, indirectly by regulation that induces market participants to act in a manner consistent with optimal welfare, or by creating "missing markets" to allow efficient trading where none had previously existed. This is studied in the field of collective action. It should be noted also that the "optimal welfare" usually takes Paretian norm, which in its mathematical application of Kaldor-Hicks efficiency, not consistent with the Utilitarian norm within the normative side of economics which studies collective action, namely public choice. Market failure in positive economics (microeconomics) is limited in implications without mixing the belief of the economist and his theories.
Demand for various commodities by individuals is generally referred to as a result of utility-maximizing process. The interpretation of the relationship between price and quantity demanded of a given item, given all the goods and other services, this set of choices that will provide the highest happiness for consumers.
Economic mainstream (mainstream economics) does not assume a priori that markets are preferable to other forms of social organization. In fact, much analysis is devoted to cases where so-called "market failures", which led to the allocation of resources suboptimal, when viewed from a certain perspective (an example is simply the toll road, which benefits everyone to use but do not directly benefit them to finance it). In this case, economists will try to find policies that will avoid waste directly under government control, indirectly by regulation that induces market participants to act in a manner consistent with optimal welfare, or by creating "missing markets" to allow efficient trading where none had previously existed. This is studied in the field of collective action. It should be noted also that the "optimal welfare" usually takes Paretian norm, which in its mathematical application of Kaldor-Hicks efficiency, not consistent with the Utilitarian norm within the normative side of economics which studies collective action, namely public choice. Market failure in positive economics (microeconomics) is limited in implications without mixing the belief of the economist and his theories.
Demand for various commodities by individuals is generally referred to as a result of utility-maximizing process. The interpretation of the relationship between price and quantity demanded of a given item, given all the goods and other services, this set of choices that will provide the highest happiness for consumers.
Model operation
It is assumed that all firms are following rational decision-making, and will produce at the profit-maximizing output. In this assumption, there are four categories in which companies profit will be considered:
* A firm is said to be making an economic profit when its average total cost is lower than each additional product at the profit-maximizing output. The economic profit is equal to the quantity output multiplied by the difference between the average total cost and price.
* A firm is said to be making a normal profit when its economic profit equals zero. This occurs where average total cost equals price at the profit-maximizing output.
* If the price is between the average total cost and average variable cost at the profit-maximizing output, then the company is in a state of minimal losses. The firm should still continue to produce, because the loss would be larger if it stopped production. By continuing production, the company can offset its variable costs and fixed costs eventually, but by stopping completely it would lose all its fixed costs.
* If the price is below average variable cost at maximizing profits, companies should go into shutdown. Losses are minimized by not producing at all, because production would not generate significant benefits to cover all fixed costs and part of the cost variable. By not producing, the firm loses only its fixed cost. With the loss of fixed cost the company faces a challenge. Will exit the market completely or remain competitive with the overall risk of loss.
* A firm is said to be making an economic profit when its average total cost is lower than each additional product at the profit-maximizing output. The economic profit is equal to the quantity output multiplied by the difference between the average total cost and price.
* A firm is said to be making a normal profit when its economic profit equals zero. This occurs where average total cost equals price at the profit-maximizing output.
* If the price is between the average total cost and average variable cost at the profit-maximizing output, then the company is in a state of minimal losses. The firm should still continue to produce, because the loss would be larger if it stopped production. By continuing production, the company can offset its variable costs and fixed costs eventually, but by stopping completely it would lose all its fixed costs.
* If the price is below average variable cost at maximizing profits, companies should go into shutdown. Losses are minimized by not producing at all, because production would not generate significant benefits to cover all fixed costs and part of the cost variable. By not producing, the firm loses only its fixed cost. With the loss of fixed cost the company faces a challenge. Will exit the market completely or remain competitive with the overall risk of loss.
Market Failure
In microeconomics, the term "market failure" does not mean that a market is no longer functioning. In fact, a market failure is a situation where a market efficiently organize production or allocate goods and services to consumers. Economists normally apply the term to situations where the inefficiency is particularly dramatic, or when it is suggested that non-market institutions will provide the desired results. On the other hand, the political context, stakeholders may use the term market failure to situations where market forces do not serve the "public interest", a subjective statement which is usually made of social or moral grounds.
Four main types of causes of market failure are:
* Monopolies or other cases of abuse of market power where a "single buyer or seller can exert significant influence over prices or output. Abuse of market power can be reduced by using the laws of anti-trust. [5]
* Externalities, which occur in cases where "the market does not take into account the impact of economic activity in outsiders." There are positive externalities and negative externalities. [5] Positive externalities occur in cases such as family health program on television improve public health. Negative externalities occur when a company's processes pollutes air or waterways. Negative externalities can be reduced by using government regulations, taxes, or subsidies, or by using property rights to force companies and individuals to accept the consequences of their economic activity at the level they should.
* Public goods such as national defense [5] and public health initiatives such as draining mosquito-breeding marshes. For example, if draining mosquito-handed in the private market, far fewer marshes would probably be drained. To provide a good supply of public goods, nations typically use taxes that compel all residents to pay for these public goods (due to scarce knowledge of the positive externalities on third parties / social welfare).
* Cases where there is asymmetric information or uncertainty (information inefficiency) [5]. Information asymmetry occurs when one party to a transaction has more information and better than the other party. Usually the seller that knows more about the product than the buyer, but this does not always happen in this case. For example, the used car business may know mbil has been used as a delivery car or taxi, information that is not available to the buyer. Instances where the buyer has better information than the seller be an sale of a house, which requires the testimony of the previous occupants. A real estate broker to buy this house may have more information about the house than the family members left behind. This situation was first described by Kenneth J. Arrow in a seminal article on health care in 1963 entitled "Uncertainty and the Welfare Economics of Medical Care," in the American Economic Review. George Akerlof later used the term asymmetric information in his 1970 The Market for Lemons. Akerlof noticed that, in such a market, the average value of commodities tends to decline, even for the quality of perfectly good, because the buyer has no way of knowing whether the products they buy will be a "lemon" (a defective product) .
Four main types of causes of market failure are:
* Monopolies or other cases of abuse of market power where a "single buyer or seller can exert significant influence over prices or output. Abuse of market power can be reduced by using the laws of anti-trust. [5]
* Externalities, which occur in cases where "the market does not take into account the impact of economic activity in outsiders." There are positive externalities and negative externalities. [5] Positive externalities occur in cases such as family health program on television improve public health. Negative externalities occur when a company's processes pollutes air or waterways. Negative externalities can be reduced by using government regulations, taxes, or subsidies, or by using property rights to force companies and individuals to accept the consequences of their economic activity at the level they should.
* Public goods such as national defense [5] and public health initiatives such as draining mosquito-breeding marshes. For example, if draining mosquito-handed in the private market, far fewer marshes would probably be drained. To provide a good supply of public goods, nations typically use taxes that compel all residents to pay for these public goods (due to scarce knowledge of the positive externalities on third parties / social welfare).
* Cases where there is asymmetric information or uncertainty (information inefficiency) [5]. Information asymmetry occurs when one party to a transaction has more information and better than the other party. Usually the seller that knows more about the product than the buyer, but this does not always happen in this case. For example, the used car business may know mbil has been used as a delivery car or taxi, information that is not available to the buyer. Instances where the buyer has better information than the seller be an sale of a house, which requires the testimony of the previous occupants. A real estate broker to buy this house may have more information about the house than the family members left behind. This situation was first described by Kenneth J. Arrow in a seminal article on health care in 1963 entitled "Uncertainty and the Welfare Economics of Medical Care," in the American Economic Review. George Akerlof later used the term asymmetric information in his 1970 The Market for Lemons. Akerlof noticed that, in such a market, the average value of commodities tends to decline, even for the quality of perfectly good, because the buyer has no way of knowing whether the products they buy will be a "lemon" (a defective product) .
Opportunity cost
Although the opportunity cost (opportunity cost) is sometimes difficult to quantify, the effect of opportunity cost is universal and very real at the individual level. In fact, this principle can be applied to all decisions, and not just economic. Since its appearance in the work of a German economist named Freidrich von Wieser, opportunity cost is seen as the basis of the theory of marginal value.
Opportunity cost is one way to measure the cost of something. Rather than merely identifying and adding costs to the project, but also identify alternative ways to spend an equal amount of money. The advantage would be lost as a result of the next best alternative is the opportunity cost of the first choice. A common example is a farmer who chooses to farm his land rather than rent it to neighbors. Thus, the opportunity cost is the forgone profit from renting. In this case, the farmer may expect to obtain greater benefits from the work he did himself. Likewise with the university to enter the lost wages that would be acceptable if you choose to be workers, who compared the cost of tuition, books, and other necessary goods (as the total cost of attendance at the university). Another example is the opportunity cost of a vacation in the Bahamas, which may be the money for mortgage payments.
Please note that the opportunity cost is not the number of available alternatives, but rather the benefit of a best alternative. Possible opportunity costs of the city's decision to build the hospital on vacant land are the loss of land for a sporting center, or inability to use the land for a parking space, or money that can be gained from selling the land, or loss of other uses - diverse - but not the aggregate of all (ditotalkan). The real opportunity cost, an advantage that will be lost in the largest number among the alternatives that have been mentioned earlier.
One question that arises here is how to calculate the benefits of alternatives is not the same. We must determine a dollar value associated with each alternative to facilitate comparison and assess opportunity cost, which may be more or less difficult depending on the things we are comparing. For example, many decisions involve environmental impacts whose dollar value is difficult to assess because of scientific uncertainty. Valuing a human life or the economic impact of oil spill in Alaska, will involve making subjective choices with ethical implications.
Opportunity cost is one way to measure the cost of something. Rather than merely identifying and adding costs to the project, but also identify alternative ways to spend an equal amount of money. The advantage would be lost as a result of the next best alternative is the opportunity cost of the first choice. A common example is a farmer who chooses to farm his land rather than rent it to neighbors. Thus, the opportunity cost is the forgone profit from renting. In this case, the farmer may expect to obtain greater benefits from the work he did himself. Likewise with the university to enter the lost wages that would be acceptable if you choose to be workers, who compared the cost of tuition, books, and other necessary goods (as the total cost of attendance at the university). Another example is the opportunity cost of a vacation in the Bahamas, which may be the money for mortgage payments.
Please note that the opportunity cost is not the number of available alternatives, but rather the benefit of a best alternative. Possible opportunity costs of the city's decision to build the hospital on vacant land are the loss of land for a sporting center, or inability to use the land for a parking space, or money that can be gained from selling the land, or loss of other uses - diverse - but not the aggregate of all (ditotalkan). The real opportunity cost, an advantage that will be lost in the largest number among the alternatives that have been mentioned earlier.
One question that arises here is how to calculate the benefits of alternatives is not the same. We must determine a dollar value associated with each alternative to facilitate comparison and assess opportunity cost, which may be more or less difficult depending on the things we are comparing. For example, many decisions involve environmental impacts whose dollar value is difficult to assess because of scientific uncertainty. Valuing a human life or the economic impact of oil spill in Alaska, will involve making subjective choices with ethical implications.
Applied microeconomics
Applied microeconomics, including areas of study, many of which draw from the other methods. Regulation and industrial organization examines topics such as entry and exit of firms, innovation, trademark rules. Law and economics applies microeconomic principles to the selection and enforcement of competing legal regimes and their relative efficiencies. Labor economics examines wages, employment, and labor market dynamics. Public finance (also called public economics) examines the design of government tax and expenditure policies and economic effects of these policies (eg, social insurance programs). Health economic study of the health system organizations, including the role of health workers and health insurance programs. Political economy examines the role of political institutions in determining policy outcomes. Urban economics, which examines the challenges faced by cities, such as sprawl, air and water pollution, traffic congestion, and poverty, described in urban geography and sociology. Financial economics examines topics such as the structure of optimal portfolios, the ratio of return to capital, econometric analysis of security returns, and corporate financial behavior. Field of economic history of studying the evolution of the economy and economic institutions, using methods and techniques of economics, history, geography, sociology, psychology and political science.
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Macroeconomic
Or macroeconomic macroeconomics is the study of the economy as a whole. Macroeconomics explain the economic changes that affect many households (household), the company, and the market. Macroeconomics can be used to analyze the best way to influence the policy goals such as economic growth, price stability, employment and achieving a sustainable balance sheet balance.
[edit] Origin of the economic concepts of macro -
Until 1930 most of the economic analysis focuses on industries and companies. When the Great Depression in the 1930s, and with the development of the concept of national income and product statistics, macro-economic field began to grow. At that time, the ideas came mainly from John Maynard Keynes, who uses the concept of aggregate demand to explain fluctuations between production and unemployment rates, very influential in the development of this field. Keynesianism is based on his ideas.
[edit] Analytic Approach
Traditional distinction is between two different approaches to economics: Keynesian economics, focusing on the demand and supply-side economics (or neo-classical) that focuses on supply. They can not walk alone, but this problem only emphasis.
[edit] Origin of the economic concepts of macro -
Until 1930 most of the economic analysis focuses on industries and companies. When the Great Depression in the 1930s, and with the development of the concept of national income and product statistics, macro-economic field began to grow. At that time, the ideas came mainly from John Maynard Keynes, who uses the concept of aggregate demand to explain fluctuations between production and unemployment rates, very influential in the development of this field. Keynesianism is based on his ideas.
[edit] Analytic Approach
Traditional distinction is between two different approaches to economics: Keynesian economics, focusing on the demand and supply-side economics (or neo-classical) that focuses on supply. They can not walk alone, but this problem only emphasis.
Economic system
Perkonomian system is a system used by a country to allocate its resources to both individuals and organizations in the country. The fundamental difference between an economic system with other economic systems is how to manage the system of production factors. In some systems, an individual may have all the factors of production. While in other systems, all of these factors on hold by the government. Most of the world's economic system is between these two extreme systems.
In addition to factors of production, economic systems can also be distinguished from the way these systems regulate the production and allocation. A planned economy (planned economies) gives the government the right to regulate the factors of production and allocation of production. While the market economy (market economies), the one who set the market factors of production and allocation of goods and services through supply and demand.
Planned economy
There are two main forms of planned economy, namely communism and socialism. As a form of thought Karl Marx, communism is a system that requires the government to have and use all the factors of production. However, he continued, government ownership of production factors are only temporary; When the economy is considered to have mature society, the government must give rights to the factors of production to the workers.
The Soviet Union and many other Eastern European countries use this economic system until the end of the 20th century. But this time, only Cuba, North Korea, Vietnam, and China are using this system. The countries that did not fully regulate the production factors. China, for example, began to relax regulations and allow private companies to control their own production factors.
[edit] Market Economy
Market economy depends on capitalism and liberalism to create an environment where producers and consumers free to sell and buy what they want (within certain limits). As a result, goods produced and the prevailing price is determined by the demand-supply mechanism.
[edit] mixed market economy
Mixed market economy or a mixed market economies is a combination of a market economic system and planned. According to Griffin, there is no any single country in this world who actually carry out the market economy or planned, even countries like the United States. Although known to be very free, the United States government issued several regulations remain that limit economic activity. For example the prohibition to sell certain items to minors, controlling advertising (advertising), and others. Similarly, the state-planned economy countries. Currently, many countries of the Eastern Bloc has privatized firms, the government changes the status to private companies.
In addition to factors of production, economic systems can also be distinguished from the way these systems regulate the production and allocation. A planned economy (planned economies) gives the government the right to regulate the factors of production and allocation of production. While the market economy (market economies), the one who set the market factors of production and allocation of goods and services through supply and demand.
Planned economy
There are two main forms of planned economy, namely communism and socialism. As a form of thought Karl Marx, communism is a system that requires the government to have and use all the factors of production. However, he continued, government ownership of production factors are only temporary; When the economy is considered to have mature society, the government must give rights to the factors of production to the workers.
The Soviet Union and many other Eastern European countries use this economic system until the end of the 20th century. But this time, only Cuba, North Korea, Vietnam, and China are using this system. The countries that did not fully regulate the production factors. China, for example, began to relax regulations and allow private companies to control their own production factors.
[edit] Market Economy
Market economy depends on capitalism and liberalism to create an environment where producers and consumers free to sell and buy what they want (within certain limits). As a result, goods produced and the prevailing price is determined by the demand-supply mechanism.
[edit] mixed market economy
Mixed market economy or a mixed market economies is a combination of a market economic system and planned. According to Griffin, there is no any single country in this world who actually carry out the market economy or planned, even countries like the United States. Although known to be very free, the United States government issued several regulations remain that limit economic activity. For example the prohibition to sell certain items to minors, controlling advertising (advertising), and others. Similarly, the state-planned economy countries. Currently, many countries of the Eastern Bloc has privatized firms, the government changes the status to private companies.
Rule / Regulation of International Trade
Diregulasikan trade generally through bilatera agreement between the two countries. For centuries under the belief in Mercantilism most nations had high tariffs and many restrictions on international trade. in the 19 th century, especially in Britain, there is a belief in free trade being the most important and this view dominated thinking diantaranegara west for quite some time since that which it brings them into the British major setback. In the years since World War II, controversial multilateral treaties like the GATT WTO Effort to attempt to regulate international trade lobal. Trade agreements are sometimes led to protests and discontent with claims of unfair trade is not mutually beneficial.
Free trade is usually strongly supported by most countries berekonomi strong, although they sometimes perform selective protection to industries that are strategically important as tariff protection for agriculture by the United States and Europe. Netherlands and the United Kingdom fully supports both free trade where they were economically dominant, today the United States, United Kingdom, Australia and Japan are its biggest supporters. However, many other countries (like India, Russia, and China) to support free trade because it has become economically strong. Since the tariff rate falls there is also a desire to negotiate non-tariff business, including direct foreign investment, purchasing, and trade facilitation. Another form of transaction costs associated with its meetings and trade customs procedures.
Generally, agricultural interests are usually in the corridor of free trade and manufacturing sectors often support protectionism. This has changed in recent years, however. In fact, agricultural lobbies, particularly in the United States, Europe and Japan, is the primary responsibility for specific regulations on major international treaty that allows more protection in agriculture than most other goods and services.
During the recess there is often domestic pressure to increase in order to protect sensible domestic industry. This happens throughout the world during the Great Depression to the collapse of world trade is believed to deepen the depression.
Regulation of international trade is done through the World Trade Organization at the global level, and through several regional agreements such as Mercosur in South America, NAFTA between the United States, Canada and Mexico, and the EU 27 countries anatara independent. The meeting in Buenos Aires in 2005 talking about making the Free Trade Area of America (FTAA) failed miserably because of the refusal of the population of the countries of Latin America. Similar agreements such as the MAI (Multilateral Agreement on Investment) also failed in recent years.
Free trade is usually strongly supported by most countries berekonomi strong, although they sometimes perform selective protection to industries that are strategically important as tariff protection for agriculture by the United States and Europe. Netherlands and the United Kingdom fully supports both free trade where they were economically dominant, today the United States, United Kingdom, Australia and Japan are its biggest supporters. However, many other countries (like India, Russia, and China) to support free trade because it has become economically strong. Since the tariff rate falls there is also a desire to negotiate non-tariff business, including direct foreign investment, purchasing, and trade facilitation. Another form of transaction costs associated with its meetings and trade customs procedures.
Generally, agricultural interests are usually in the corridor of free trade and manufacturing sectors often support protectionism. This has changed in recent years, however. In fact, agricultural lobbies, particularly in the United States, Europe and Japan, is the primary responsibility for specific regulations on major international treaty that allows more protection in agriculture than most other goods and services.
During the recess there is often domestic pressure to increase in order to protect sensible domestic industry. This happens throughout the world during the Great Depression to the collapse of world trade is believed to deepen the depression.
Regulation of international trade is done through the World Trade Organization at the global level, and through several regional agreements such as Mercosur in South America, NAFTA between the United States, Canada and Mexico, and the EU 27 countries anatara independent. The meeting in Buenos Aires in 2005 talking about making the Free Trade Area of America (FTAA) failed miserably because of the refusal of the population of the countries of Latin America. Similar agreements such as the MAI (Multilateral Agreement on Investment) also failed in recent years.
The benefits of international trade
* Obtain goods that can not be produced in their own country
Many factors influence the production differences in each country. These factors include: condition of geography, climate, level of mastery of science and technology and others. With international trade, each country is able to meet the needs that are not produced themselves.
* Obtain the benefits of specialization
The main cause of foreign trade activities is to obtain profits realized by specialization. While a country can produce an identical item to that produced by other countries, but there are sometimes better if the country is importing goods from abroad.
* Expanding markets and increasing profits
Sometimes, entrepreneurs do not run the machines (production equipment) with a maximum because they fear will happen excess production, which caused a decline in the price of their products. With international trade, the entrepreneur can run the engines to maximum, and sell the excess product out of the country.
* Transfer of modern technology
Foreign trade allows a country to learn the technique more efficient production and management methods are more modern.
[edit] Factors driving
Many factors are pushing the country to international trade, including the following:
* To meet the needs of goods and services in the country
* The desire and benefit increases state revenue
* The difference in the ability mastery of science and technology in the process of economic resources
* The existence of excess domestic product that needs new markets to sell these products.
* The difference in circumstances such as natural resources, climate, labor, culture, and population differences caused production and that the lack of production.
* The common sense of a good.
* The desire to open cooperation, political relations and support from other countries.
* The occurrence of an era of globalization so that no single country in the world can live alone.
Many factors influence the production differences in each country. These factors include: condition of geography, climate, level of mastery of science and technology and others. With international trade, each country is able to meet the needs that are not produced themselves.
* Obtain the benefits of specialization
The main cause of foreign trade activities is to obtain profits realized by specialization. While a country can produce an identical item to that produced by other countries, but there are sometimes better if the country is importing goods from abroad.
* Expanding markets and increasing profits
Sometimes, entrepreneurs do not run the machines (production equipment) with a maximum because they fear will happen excess production, which caused a decline in the price of their products. With international trade, the entrepreneur can run the engines to maximum, and sell the excess product out of the country.
* Transfer of modern technology
Foreign trade allows a country to learn the technique more efficient production and management methods are more modern.
[edit] Factors driving
Many factors are pushing the country to international trade, including the following:
* To meet the needs of goods and services in the country
* The desire and benefit increases state revenue
* The difference in the ability mastery of science and technology in the process of economic resources
* The existence of excess domestic product that needs new markets to sell these products.
* The difference in circumstances such as natural resources, climate, labor, culture, and population differences caused production and that the lack of production.
* The common sense of a good.
* The desire to open cooperation, political relations and support from other countries.
* The occurrence of an era of globalization so that no single country in the world can live alone.
International Trade Theory
Heckscher-Ohlin
Heckscgher-Ohlin model created as an alternative to the Ricardian model of basic comparative advantage. Leaving aside the complexity of a much more complicated this model does not prove a more accurate prediction. However, from a theoretical point of view it does not provide an elegant solution using neoclassical price mechanism into international trade theory.
This theory argues that patterns of international trade is determined by differences in factor endowments. It predicts that countries will export goods that make intensive use of abundant factors and will need to import goods that will use scarce local factors intensively. Empirical problems with the HO model, known as the Leontief Leotief, which opened in empirical tests by Wassily Leontief who found that the United States are more likely to export labor-intensive goods than to have capital adequacy.
[edit] Specific Factors
In this model, the mobility of labor between industry and the other one is possible when the capital does not move between industries in a short period. Specific factors which refers to the provision of short-term specific factors of production, such as physical capital, is not easily transferred between industries. The theory suggests that if there is an increase in the price of an item, the owners of production factors specific to that good will profit in real terms. In addition, owners of opposing specific factors of production (such as labor and capital) tend to have opposing agendas when lobbying for controls over immigration of labor. Conversely, both owners of the benefits of capital and labor in real terms from an increase in capital endowment. This model is ideal for particular industries. This model is ideal for understanding income distribution but not to the pattern of trade.
[edit] Gravity Model
The gravity model of trade presents a more empirical analysis of trade patterns better than the theoretical model above. Gravity model, in its basic form, predicts trade based on the distance between the state and the interaction between countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects. This model has proven to be strong empirically by econometric analysis. Other factors such as income level, diplomatic relations, and trade policies are also included in the larger version of this model.
Heckscgher-Ohlin model created as an alternative to the Ricardian model of basic comparative advantage. Leaving aside the complexity of a much more complicated this model does not prove a more accurate prediction. However, from a theoretical point of view it does not provide an elegant solution using neoclassical price mechanism into international trade theory.
This theory argues that patterns of international trade is determined by differences in factor endowments. It predicts that countries will export goods that make intensive use of abundant factors and will need to import goods that will use scarce local factors intensively. Empirical problems with the HO model, known as the Leontief Leotief, which opened in empirical tests by Wassily Leontief who found that the United States are more likely to export labor-intensive goods than to have capital adequacy.
[edit] Specific Factors
In this model, the mobility of labor between industry and the other one is possible when the capital does not move between industries in a short period. Specific factors which refers to the provision of short-term specific factors of production, such as physical capital, is not easily transferred between industries. The theory suggests that if there is an increase in the price of an item, the owners of production factors specific to that good will profit in real terms. In addition, owners of opposing specific factors of production (such as labor and capital) tend to have opposing agendas when lobbying for controls over immigration of labor. Conversely, both owners of the benefits of capital and labor in real terms from an increase in capital endowment. This model is ideal for particular industries. This model is ideal for understanding income distribution but not to the pattern of trade.
[edit] Gravity Model
The gravity model of trade presents a more empirical analysis of trade patterns better than the theoretical model above. Gravity model, in its basic form, predicts trade based on the distance between the state and the interaction between countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects. This model has proven to be strong empirically by econometric analysis. Other factors such as income level, diplomatic relations, and trade policies are also included in the larger version of this model.
International trade
International trade is a trade made by residents of a country with a population of other countries on the basis of mutual agreement. Population in question can be interpersonal (individual with the individual), between individuals with the government of a state or government of a country with other governments. In many countries, international trade became one of the main factors to increase GDP. Although international trade has occurred for thousands of years (see Silk Road, Amber Road), its impact on economic interests, social, political and just felt a few centuries later. International trade also helped to encourage industrialization, transportation advances, globalization, and the presence of multinational companies.
International Trade Theory
According to Amir MS, when compared with the implementation of the domestic trade, international trade is very complicated and complex. Such complexity is partly because of political boundaries and the state that could hinder trade, such as with the customs, tariffs, or quotas of imported goods.
In addition, other difficulties arise because of differences in culture, language, currency, estimates and scales, and the law in the trade.
[edit] Ricardian model
The Ricardian model focuses on comparative advantage and perhaps the most important concepts in the theory of international trade. In a Ricardian model, countries specialize in producing what they produce best. Unlike other models, this model framework predicts that countries will fully specialize a variety of goods than produce commodities. Also, the Ricardian model does not directly enter the supporting factors, such as the relative amounts of labor and capital in the country.
International Trade Theory
According to Amir MS, when compared with the implementation of the domestic trade, international trade is very complicated and complex. Such complexity is partly because of political boundaries and the state that could hinder trade, such as with the customs, tariffs, or quotas of imported goods.
In addition, other difficulties arise because of differences in culture, language, currency, estimates and scales, and the law in the trade.
[edit] Ricardian model
The Ricardian model focuses on comparative advantage and perhaps the most important concepts in the theory of international trade. In a Ricardian model, countries specialize in producing what they produce best. Unlike other models, this model framework predicts that countries will fully specialize a variety of goods than produce commodities. Also, the Ricardian model does not directly enter the supporting factors, such as the relative amounts of labor and capital in the country.
French Economy
France is one of the world's largest economy. However, because of the different analysis, there is disagreement on how much the French economy. International Monetary Fund data includes the biggest French economy to 8 according to balance the ability to shop (PPP) in 2007 amounted to U.S. $ 2,046,899 million. The World Bank estimates of Gross Domestic Product of France in 2006 amounted to U.S. $ 1,959,745 million, or seventh largest in the world. Ranking is published by the CIA World Factbook GDP in 2008 to determine France for $ 2067 trillion, the largest measuring 8 by PPP.
telusuri
telusuri
Senin, 26 Oktober 2009
Recovery Singapore Will Slow Walk
SINGAPORE - Singapore's economic growth in the quarter-II in 2009 grew out of the estimated 20.7 percent compared to the previous quarter. However, the government said the economic crisis recovery will be slow because markets in Europe and the United States (U.S.) is still weak.
Positive results in quarter II (April-June) and it was the first time after five previous quarter due to always having contractions drop in export markets. Second quarter data is also better than economists forecast a 20.4 percent growth estimate. Strong growth in the second three months of this year supported by a recovery in the manufacturing sector where output jumped 49.5 percent, far better than the previous period rose only 18.5 percent.
The growth of the manufacturing sector, one of which is driven by pharmaceutical production and rising inventories of electronic devices. Other sectors that high-rise is the construction of 32.7 percent, in line with the improving property market and the development of resort areas outside the city terintregrasi.
"However, compared with the previous year's gross domestic production (GDP) during the quarter II fell 3.5 percent, showing that the recovery will be fragile," said the Ministry of Trade and Industry yesterday. In comparison, in the quarter I-2009 Singapore's GDP contracted 9.5 percent compared to the same period the previous year.
Department of Trade and Industry, Singapore noted, industrial production and consumption in Singapore's main export markets like the U.S. and Europe are still weak. Likewise, unemployment remains high.
In the U.S., although starting to slow, unemployment rates are still in the range of 9.4 percent. "Without the return drivers of economic indicators in the two areas, the economic recovery in the second half of this year will probably slow and simple," said Minister of Trade and Industry Lim Hng Kiang of Singapore yesterday.
In another part, owned trade promotion agency International Enterprise Singapore government (IES) states, Singapore's key economic rise over the previous quarter is II/2009
exports increased to 7.6 percent, from the previous period.
However, when compared with last year, exports in the quarter II still fell 11 percent due to the electronic market recovery yet, and nonelektronik goods. Overall, Singapore's foreign trade during April-June 2009 rose 3.8 percent, but 27 percent lower than in 2008.
Positive results in quarter II (April-June) and it was the first time after five previous quarter due to always having contractions drop in export markets. Second quarter data is also better than economists forecast a 20.4 percent growth estimate. Strong growth in the second three months of this year supported by a recovery in the manufacturing sector where output jumped 49.5 percent, far better than the previous period rose only 18.5 percent.
The growth of the manufacturing sector, one of which is driven by pharmaceutical production and rising inventories of electronic devices. Other sectors that high-rise is the construction of 32.7 percent, in line with the improving property market and the development of resort areas outside the city terintregrasi.
"However, compared with the previous year's gross domestic production (GDP) during the quarter II fell 3.5 percent, showing that the recovery will be fragile," said the Ministry of Trade and Industry yesterday. In comparison, in the quarter I-2009 Singapore's GDP contracted 9.5 percent compared to the same period the previous year.
Department of Trade and Industry, Singapore noted, industrial production and consumption in Singapore's main export markets like the U.S. and Europe are still weak. Likewise, unemployment remains high.
In the U.S., although starting to slow, unemployment rates are still in the range of 9.4 percent. "Without the return drivers of economic indicators in the two areas, the economic recovery in the second half of this year will probably slow and simple," said Minister of Trade and Industry Lim Hng Kiang of Singapore yesterday.
In another part, owned trade promotion agency International Enterprise Singapore government (IES) states, Singapore's key economic rise over the previous quarter is II/2009
exports increased to 7.6 percent, from the previous period.
However, when compared with last year, exports in the quarter II still fell 11 percent due to the electronic market recovery yet, and nonelektronik goods. Overall, Singapore's foreign trade during April-June 2009 rose 3.8 percent, but 27 percent lower than in 2008.
Keep Singapore Monetary Policy
WASHINGTON - The International Monetary Fund (IMF) urged the government of Singapore to maintain its monetary policy.
Changes can be done if Singapore was out of the recession and getting healthy. Reviewtahunan economy in Singapore, the IMF's monetary policy rate is now well and support domestic demand. "The focus now is to seek financial stability and ensure that Singapore ready to rebound when the global economy began to recover, taking advantage of the many authorities maneuvering room," the IMF said, as quoted by Reuters.
"The next step, the recovery path, a tightening stance will be justified to maintain price stability, exchange rate trends through effective targeting," the IMF added.
Singapore Central Bank to manage monetary policy adjustment Singapore dollar against a set of trading currencies. Singapore Central Bank will review monetary policy next October. Analysts predict, the Central Bank will continue to implement monetary policy and akomodatif.Kuartal II/2009 Singapore economic performance is higher than analyst forecasts.
IMF predicts, Singapore's economy will contract about 8 percent in 2009.Pemulihan gross domestic product (GDP) is projected at IV/2009.IMF quarter 2010 GDP forecast of about 2.5 percent.
Changes can be done if Singapore was out of the recession and getting healthy. Reviewtahunan economy in Singapore, the IMF's monetary policy rate is now well and support domestic demand. "The focus now is to seek financial stability and ensure that Singapore ready to rebound when the global economy began to recover, taking advantage of the many authorities maneuvering room," the IMF said, as quoted by Reuters.
"The next step, the recovery path, a tightening stance will be justified to maintain price stability, exchange rate trends through effective targeting," the IMF added.
Singapore Central Bank to manage monetary policy adjustment Singapore dollar against a set of trading currencies. Singapore Central Bank will review monetary policy next October. Analysts predict, the Central Bank will continue to implement monetary policy and akomodatif.Kuartal II/2009 Singapore economic performance is higher than analyst forecasts.
IMF predicts, Singapore's economy will contract about 8 percent in 2009.Pemulihan gross domestic product (GDP) is projected at IV/2009.IMF quarter 2010 GDP forecast of about 2.5 percent.
Singapore Economy Grew 0.8%
SINGAPORE - Singapore Economic third quarter grew approximately 0.8 percent during the last three months to September period from a year ago. These figures reinforce the country's recovery from the worst recession.
"In fact, the recovery is in progress globally. At least for three or four quarters," he disclosed the Ministry of Trade and Industry of Singapore was quoted as saying by the AFP, Monday (12/10/2009).
However, not for the gross domestic product (GDP) is predicted to fall in 2009. The government has also been estimated on an annual basis will be contracted from 2.0 to 2.5 percent, far below previous estimates of 4-6 percent negative growth.
This is because Singapore's economy depends on trade at the beginning of the year to expand in five quarters and this figure is also based on the period from July to August. This estimate is expected to be revised to September period.
"One of the factors such as measures of fiscal stimulus will continue to support growth in the short term," said Ministry of Commerce.
On a quarterly basis, GDP rose 14.9 percent after a revised 22 percent in the second quarter to June. These numbers are consecutive quarters of growth. While growth in the third quarter driven by expansion in the biomedical and electronics manufacturing industry, which is the main pillar of Singapore's industrial sector.
As for the manufacturing sector, which contributes almost a quarter of Singapore's GDP, grew 8.3 percent in the third quarter from a year ago and expanded 34.9 percent on a quarterly basis.
Meanwhile, service industries shrank to 2.4 percent, but expanded 9.5 percent on a quarterly basis, as well as the construction sector surged 12.4 percent on an annual basis but declined 0.6 percent on a quarterly basis.
"This growth is driven by the expansion of biomedical and electronics manufacturing output. In addition, increased trade and tourism-related sectors of the economy gradually stabilized," he said.
For your information, depending on the Singapore trading after sinking into economic recession in the second quarter of 2008 due to the global financial crisis. This is hurting demand for exports to major markets including the United States and the European Union.
"In fact, the recovery is in progress globally. At least for three or four quarters," he disclosed the Ministry of Trade and Industry of Singapore was quoted as saying by the AFP, Monday (12/10/2009).
However, not for the gross domestic product (GDP) is predicted to fall in 2009. The government has also been estimated on an annual basis will be contracted from 2.0 to 2.5 percent, far below previous estimates of 4-6 percent negative growth.
This is because Singapore's economy depends on trade at the beginning of the year to expand in five quarters and this figure is also based on the period from July to August. This estimate is expected to be revised to September period.
"One of the factors such as measures of fiscal stimulus will continue to support growth in the short term," said Ministry of Commerce.
On a quarterly basis, GDP rose 14.9 percent after a revised 22 percent in the second quarter to June. These numbers are consecutive quarters of growth. While growth in the third quarter driven by expansion in the biomedical and electronics manufacturing industry, which is the main pillar of Singapore's industrial sector.
As for the manufacturing sector, which contributes almost a quarter of Singapore's GDP, grew 8.3 percent in the third quarter from a year ago and expanded 34.9 percent on a quarterly basis.
Meanwhile, service industries shrank to 2.4 percent, but expanded 9.5 percent on a quarterly basis, as well as the construction sector surged 12.4 percent on an annual basis but declined 0.6 percent on a quarterly basis.
"This growth is driven by the expansion of biomedical and electronics manufacturing output. In addition, increased trade and tourism-related sectors of the economy gradually stabilized," he said.
For your information, depending on the Singapore trading after sinking into economic recession in the second quarter of 2008 due to the global financial crisis. This is hurting demand for exports to major markets including the United States and the European Union.
Singapore Industry Down 7.7%
SINGAPORE - The number of Singapore's industrial production declined by 7.7 percent in September (year on year / yoy). This production reduction occurred evenly across all industry sectors.
Based on data from Economic Development Board (EDB) as quoted by AFP on Monday (26/10/2009), when compared to August period (month to month), the level of production in Singapore fell back even more, which decreased by 9.1 percent .
Singapore is a country made economic indicators, namely the views of the manufukturnya each quarter. The manufacturing sector, experienced a crisis which hit quite hard by the economic crisis. The reason, experience attenuation export performance due to its potential export markets namely the U.S. can not be recovered.
As for industrial engineers, including industrial machinery and systems (Softwere) registered a decrease terpesatnya each for 14.3 percent (yoy) and 12.1 percent compared to the previous month.
As for Biomedical industry fell 13.9 percent after a sharp increase of 97.7 percent at the end of last month. The electronics industry slowed down only 1.1 percent, the chemical industry fell 8.7 percent, and transportation industries fell 8.1 percent.
In calculations, for the period January-September 2009 industrial Singapuran decreased 6.9 percent compared to the same period last year
Based on data from Economic Development Board (EDB) as quoted by AFP on Monday (26/10/2009), when compared to August period (month to month), the level of production in Singapore fell back even more, which decreased by 9.1 percent .
Singapore is a country made economic indicators, namely the views of the manufukturnya each quarter. The manufacturing sector, experienced a crisis which hit quite hard by the economic crisis. The reason, experience attenuation export performance due to its potential export markets namely the U.S. can not be recovered.
As for industrial engineers, including industrial machinery and systems (Softwere) registered a decrease terpesatnya each for 14.3 percent (yoy) and 12.1 percent compared to the previous month.
As for Biomedical industry fell 13.9 percent after a sharp increase of 97.7 percent at the end of last month. The electronics industry slowed down only 1.1 percent, the chemical industry fell 8.7 percent, and transportation industries fell 8.1 percent.
In calculations, for the period January-September 2009 industrial Singapuran decreased 6.9 percent compared to the same period last year
Minggu, 25 Oktober 2009
Fitch: Peringkat Wahana Ottomitra A-(idn)
JAKARTA - Fitch Ratings memberikan peringkat nasional jangka panjang untuk PT Wahana Ottomitra Multiartha Tbk (WOMF) pada level 'A-(idn)' (A minus(idn)) dengan prospek positif.
Selain itu, Fitch juga memberikan peringkat obligasi senior di 'A-(idn)' (A minus(idn)) dan peringkat obligasi subordinasi di 'BBB+(idn)'. "Prospek Positif WOMF mencerminkan membaiknya kualitas aset dan profitabilitas perusahaan, meskipun masih pada tingkat yang rendah, serta perkembangan integrasi dengan proses pengendalian internal dan manajemen risiko perusahaan induknya, PT Bank Internasional Indonesia Tbk," papar analis Grup Sektor Keuangan Fitch Ratings Humprey Tjia, di Jakarta, Minggu (27/9/2009).
Peringkat ini, lanjutnya juga merefleksikan komitmen yang tinggi dari perusahaan induk untuk meningkatkan dukungan pendanaan bagi WOMF sebagai bagian rencana strategis BII untuk ekspansi ke sektor pembiayaan konsumen.
Sejak 2007 profitabilitas WOMF membaik ketika perusahaan memulai upaya perbaikan proses bisnis dan penanganan pembiayaan bermasalahnya. Di tahun 2008, perusahaan membukukan laba Rp21 miliar setelah sebelumnya di tahun 2007 mengalami kerugian Rp282 miliar. Keuntungan ini didukung penurunan biaya pencadangan kredit sebesar 43 persen dan biaya dana karena berkurangnya hutang perusahaan.
Pendapatan bunga bersih (NIM) meningkat menjadi 5 persen di tahun 2008 dari 4,8 persen di tahun 2007. Namun pendapatan bunga bersih semester I tahun 2009 yang disetahunkan turun menjadi 4,2 persen akibat perlambatan pertumbuhan pembiayaan perusahaan.
"Di tengah ketidakpastian kondisi ekonomi yang berlanjut hingga semester 1 tahun ini, perusahaan terus berhati-hati dalam melakukan ekspansi dan lebih memfokuskan diri pada penguatan proses manajemen risiko," urainya. Selama semester I tahun ini, perusahaan membukukan laba sebesar Rp 11 miliar.
Di akhir Juni 2009 pembiayaan bermasalah bruto (NPL) perusahaan mencapai 4,4 persen, turun dari 4,7 persen tahun sebelumnya. Walaupun secara rasio penurunan ini tidak signifikan, namun menjadi lebih berarti karena terjadi di tengah penurunan nilai pembiayaan perusahaan
Selain itu, Fitch juga memberikan peringkat obligasi senior di 'A-(idn)' (A minus(idn)) dan peringkat obligasi subordinasi di 'BBB+(idn)'. "Prospek Positif WOMF mencerminkan membaiknya kualitas aset dan profitabilitas perusahaan, meskipun masih pada tingkat yang rendah, serta perkembangan integrasi dengan proses pengendalian internal dan manajemen risiko perusahaan induknya, PT Bank Internasional Indonesia Tbk," papar analis Grup Sektor Keuangan Fitch Ratings Humprey Tjia, di Jakarta, Minggu (27/9/2009).
Peringkat ini, lanjutnya juga merefleksikan komitmen yang tinggi dari perusahaan induk untuk meningkatkan dukungan pendanaan bagi WOMF sebagai bagian rencana strategis BII untuk ekspansi ke sektor pembiayaan konsumen.
Sejak 2007 profitabilitas WOMF membaik ketika perusahaan memulai upaya perbaikan proses bisnis dan penanganan pembiayaan bermasalahnya. Di tahun 2008, perusahaan membukukan laba Rp21 miliar setelah sebelumnya di tahun 2007 mengalami kerugian Rp282 miliar. Keuntungan ini didukung penurunan biaya pencadangan kredit sebesar 43 persen dan biaya dana karena berkurangnya hutang perusahaan.
Pendapatan bunga bersih (NIM) meningkat menjadi 5 persen di tahun 2008 dari 4,8 persen di tahun 2007. Namun pendapatan bunga bersih semester I tahun 2009 yang disetahunkan turun menjadi 4,2 persen akibat perlambatan pertumbuhan pembiayaan perusahaan.
"Di tengah ketidakpastian kondisi ekonomi yang berlanjut hingga semester 1 tahun ini, perusahaan terus berhati-hati dalam melakukan ekspansi dan lebih memfokuskan diri pada penguatan proses manajemen risiko," urainya. Selama semester I tahun ini, perusahaan membukukan laba sebesar Rp 11 miliar.
Di akhir Juni 2009 pembiayaan bermasalah bruto (NPL) perusahaan mencapai 4,4 persen, turun dari 4,7 persen tahun sebelumnya. Walaupun secara rasio penurunan ini tidak signifikan, namun menjadi lebih berarti karena terjadi di tengah penurunan nilai pembiayaan perusahaan
Beban Terpangkas, Laba Wahana Ottomitra Naik 126%
JAKARTA - PT Wahana Ottomitra Multiartha Tbk (WOMF) mencatatkan kenaikan laba bersih selama kuartal III-2009 hingga 126,06 persen menjadi Rp32,148 miliar, bila dibandingkan periode yang sama tahun sebelumnya Rp14,221 miliar.
Peningkatan laba perseroan tersebut, dipicu oleh terpangkasnya pos beban pinjaman selama kuartal III-2009 mencapai 27,16 persen menjadi Rp178,64 miliar, bila dibandingkan periode yang sama tahun sebelumnya Rp383,1 miliar. Begitu pula pada pos jumlah beban perseroan yang turun mencapai 12,98 persen menjadi Rp953,6 miliar, jika dibandingkan periode yang sama tahun sebelumnya Rp1,095 triliun.
Hal tersebut disampaikan dalam laporan keuangan Semester I-2009 yang dipublikasikan perseroan, di Jakarta, Minggu (25/10/2009).
Selain itu, pada pendapatan administrasi perseroan mengalami kenaikan hingga 14,64 persen menjadi Rp307,433 miliar, bila dibandingkan periode yang sama sebelumnya Rp268,166 miliar.
Kendati demikian, pada pos pendapatan konsumen bersih perseroan turun hingga 29,69 persen menjadi Rp493,893 miliar, jika dibandingkan periode yang sama tahun sebelumnya Rp702,483 miliar. Selain itu, pos gaji dan tunjangan karyawan mengalami penurunan menjadi Rp203,879 miliar, bila dibandingkan pada periode yang sama Rp210,057 miliar.
Pada penutupan perdagangan IHSG akhir pekan, harga saham dengan kode emiten WOMF melonjak Rp14 ke level Rp155 per lembar sahamnya
Peningkatan laba perseroan tersebut, dipicu oleh terpangkasnya pos beban pinjaman selama kuartal III-2009 mencapai 27,16 persen menjadi Rp178,64 miliar, bila dibandingkan periode yang sama tahun sebelumnya Rp383,1 miliar. Begitu pula pada pos jumlah beban perseroan yang turun mencapai 12,98 persen menjadi Rp953,6 miliar, jika dibandingkan periode yang sama tahun sebelumnya Rp1,095 triliun.
Hal tersebut disampaikan dalam laporan keuangan Semester I-2009 yang dipublikasikan perseroan, di Jakarta, Minggu (25/10/2009).
Selain itu, pada pendapatan administrasi perseroan mengalami kenaikan hingga 14,64 persen menjadi Rp307,433 miliar, bila dibandingkan periode yang sama sebelumnya Rp268,166 miliar.
Kendati demikian, pada pos pendapatan konsumen bersih perseroan turun hingga 29,69 persen menjadi Rp493,893 miliar, jika dibandingkan periode yang sama tahun sebelumnya Rp702,483 miliar. Selain itu, pos gaji dan tunjangan karyawan mengalami penurunan menjadi Rp203,879 miliar, bila dibandingkan pada periode yang sama Rp210,057 miliar.
Pada penutupan perdagangan IHSG akhir pekan, harga saham dengan kode emiten WOMF melonjak Rp14 ke level Rp155 per lembar sahamnya
Kamis, 22 Oktober 2009
Value Global Bond Plus Can PLN
JAKARTA - PT PLN (Persero) is likely to increase the size of the global bond to more than USD1, 25 billion if the market response to the global bond PLN good.
"Well if its bid was more than we could have added up, we see first," said President Director of PT PLN (Persero), Fahmi Mochtar, Combination Meeting and Events Temu Alumni ITB in PLN Headquarters, Jalan Trunojoyo, Jakarta, Thursday (22 / 10/2009) night.
After the launch conducted in Hong Kong recently, PLN's team will conduct a number of roadshows to various countries like the United States and England.
Global bond issued by PLN size USD1, 25 billion, with the tenor or the 10-year loan and possible open for 20-30 years.
Because just released yesterday, he admitted not knowing the results of the offering and the global response to the bond market PLN. "No report, just dilaunch this morning. Hopefully a good response
"Well if its bid was more than we could have added up, we see first," said President Director of PT PLN (Persero), Fahmi Mochtar, Combination Meeting and Events Temu Alumni ITB in PLN Headquarters, Jalan Trunojoyo, Jakarta, Thursday (22 / 10/2009) night.
After the launch conducted in Hong Kong recently, PLN's team will conduct a number of roadshows to various countries like the United States and England.
Global bond issued by PLN size USD1, 25 billion, with the tenor or the 10-year loan and possible open for 20-30 years.
Because just released yesterday, he admitted not knowing the results of the offering and the global response to the bond market PLN. "No report, just dilaunch this morning. Hopefully a good response
Complementary PSO fuel ration Pertamina 1%
JAKARTA - Possible co-PT Pertamina (Persero) to distribute subsidized fuel was allotted no more than one percent of the quota of subsidized fuel by the year 2010 that 36.5 million kl, or just for 134,172 kl.
Sebagaimaan known that BPH Migas companion set of three candidates to distribute fuel Pertamina PSO for 2010 is PT Aneka Kimia Raya (AKR) Corporindo, PT Shell Indonesia, and Petronas.
To AKR, was allotted to distribute Solar for 109,162 kl per year or 299 kl per day in 34 non-filling stations.
"Its location in Medan, Deli Serdang, Metro, Binjai, Central Lampung, East Lampung, South Lampung, North Lampung, Pontianak and Banjarmasin," said BPH Migas head Tubagus Haryono in a short message to the press in Jakarta, Thursday (22/10/2009 ) night.
As for Shell was allotted only for 5110 kl Mogas88 per year or equivalent to 14 kl per day at a gas station in Medan.
"Petronas have Mogas88 of 20,440 kl per year or equivalent to 56 kl per day at 4 stations in Medan," he added
Sebagaimaan known that BPH Migas companion set of three candidates to distribute fuel Pertamina PSO for 2010 is PT Aneka Kimia Raya (AKR) Corporindo, PT Shell Indonesia, and Petronas.
To AKR, was allotted to distribute Solar for 109,162 kl per year or 299 kl per day in 34 non-filling stations.
"Its location in Medan, Deli Serdang, Metro, Binjai, Central Lampung, East Lampung, South Lampung, North Lampung, Pontianak and Banjarmasin," said BPH Migas head Tubagus Haryono in a short message to the press in Jakarta, Thursday (22/10/2009 ) night.
As for Shell was allotted only for 5110 kl Mogas88 per year or equivalent to 14 kl per day at a gas station in Medan.
"Petronas have Mogas88 of 20,440 kl per year or equivalent to 56 kl per day at 4 stations in Medan," he added
Opening hoist Astra Group JCI
JAKARTA - composite stock price index (JCI) had opened up, after the last few days experiencing a correction due to negative sentiment on regional exchanges that tend to weaken.
Stock index in early trade on Friday (23/10/2009), up 14.286 points or 0.56 percent equivalent to the level of 2447.47. Meanwhile, LQ45 index rose 4.821 points to 481.991 position and Jakarta Islamic Index (JII) also rose 4.273 points to 399.275 position.
The value of trade was opened as many as eight million shares worth Rp23 billion. The total frequency of transactions reached 424 times. There are 34 stocks rose, four stocks weakened, and 16 shares stagnated.
For the regional market, Nikkei 255 index rose 63.26 points, or 0.62 percent equivalent to the position of 10,330.43, Shanghai Composite index in China also rose 43.104 points to 3094.516 positions, and the Hang Seng index surged 272.7 points to a position 22,483.74. Similarly, the Seoul Composite index rose 9.41 points to 1639.74 level.
Shares opened stronger or top Gainer, among others, PT Astra International Tbk (ASII) levels rose Rp650 to Rp32.000, PT Astra Agro Lestari Tbk (AALI) rose Rp150 to Rp21.900, PT Semen Gresik Tbk (SMGR) strengthened Rp100 to Rp6.800 position, and PT Telekomunikasi Indonesia Tbk (TLKM) rose Rp50 be Rp8.650.
Stocks opened weaker or the top loser, among others, PT Unilever Indonesia Tbk (UNVR) Rp10.450 corrected to Rp50, PT Berlian Laju Tanker Tbk (BLTA) loss position Rp760 to Rp10, Tbk PT Sat Nusapersada (PTSN) Rp7 weakened to Rp198, and PT Multi Indocitra Tbk (MICE) down IDR5 to Rp295 position
Stock index in early trade on Friday (23/10/2009), up 14.286 points or 0.56 percent equivalent to the level of 2447.47. Meanwhile, LQ45 index rose 4.821 points to 481.991 position and Jakarta Islamic Index (JII) also rose 4.273 points to 399.275 position.
The value of trade was opened as many as eight million shares worth Rp23 billion. The total frequency of transactions reached 424 times. There are 34 stocks rose, four stocks weakened, and 16 shares stagnated.
For the regional market, Nikkei 255 index rose 63.26 points, or 0.62 percent equivalent to the position of 10,330.43, Shanghai Composite index in China also rose 43.104 points to 3094.516 positions, and the Hang Seng index surged 272.7 points to a position 22,483.74. Similarly, the Seoul Composite index rose 9.41 points to 1639.74 level.
Shares opened stronger or top Gainer, among others, PT Astra International Tbk (ASII) levels rose Rp650 to Rp32.000, PT Astra Agro Lestari Tbk (AALI) rose Rp150 to Rp21.900, PT Semen Gresik Tbk (SMGR) strengthened Rp100 to Rp6.800 position, and PT Telekomunikasi Indonesia Tbk (TLKM) rose Rp50 be Rp8.650.
Stocks opened weaker or the top loser, among others, PT Unilever Indonesia Tbk (UNVR) Rp10.450 corrected to Rp50, PT Berlian Laju Tanker Tbk (BLTA) loss position Rp760 to Rp10, Tbk PT Sat Nusapersada (PTSN) Rp7 weakened to Rp198, and PT Multi Indocitra Tbk (MICE) down IDR5 to Rp295 position
Stock Recommendations October 23, 2009
JAKARTA - JCI is expected back today experiencing attenuation. Even so, the index opened this morning up 14 points or 0.56 percent equivalent.
Following recommendations Securities shares to trade eTrading weekend, Friday (23/10/2009):
EARTH (Rp2.650)-Sell
Had touched the level of support bullish trend. Predicted to bounce back. Recommendations buy. Target resistance in Rp2.975. Trading range Rp2.600-Rp2.975.
INDF (Rp3.125)-Sell
Yesterday touched bullish trend support level and SMA20. Predicted to bounce back as well as stochastic is in overbought. Recommendations buy. Target resistance in Rp3.400. Trading range Rp3.100-Rp3.400.
ASII (Rp31.350)-Sell
Almost touching the level of support the trend. Stocahstic also overought. Recommendations buy. Target resistance in Rp34.150. Trading range Rp31.050-Rp34.150.
BBRI (Rp7.400)-Sell
After falling for some time, stochastic is showing overbought. Recommendations buy. Target resistance in Rp7.700. Trading range Rp7.200-Rp7.700
Solar Universe Disband E-SSIA.com Inc
AKARTA - PT Surya Semesta Internusa Tbk (SSIA) has dissolved E-SSIA.com Inc., which is none other than a subsidiary company fully owned and registered in the Cayman Islands.
"We were informed that on October 21, 2009, we have dissolved the E-SSIA.com Inc., a subsidiary company owned 100 percent and recorded in the Cayman Island," said Vice President Director Eddy P Wikanta, in his written statement to the Indonesia Stock Exchange ( BEI), in Jakarta, Friday (23/10/2009).
In connection with this, the company through the subsidiary has sent a written request removal from the list of companies in the Cayman Island to the proper authority in the country. "The value of investment in subsidiary companies are not material," he added.
JCI trading session on the first, the stock price with the issuer code SSIA in a position to move stagnant Rp400 per share.
"We were informed that on October 21, 2009, we have dissolved the E-SSIA.com Inc., a subsidiary company owned 100 percent and recorded in the Cayman Island," said Vice President Director Eddy P Wikanta, in his written statement to the Indonesia Stock Exchange ( BEI), in Jakarta, Friday (23/10/2009).
In connection with this, the company through the subsidiary has sent a written request removal from the list of companies in the Cayman Island to the proper authority in the country. "The value of investment in subsidiary companies are not material," he added.
JCI trading session on the first, the stock price with the issuer code SSIA in a position to move stagnant Rp400 per share.
Arab & China Investors Interested in Investing in Papua
JAKARTA - PT Bank Mandiri will bring together the business, especially customers, with local governments in Papua and its board of Papua mat Investment Day, 8 October. One of these red plates bank will bridge the funding imbalance that had a kid.
"Until now, existing investors from Saudi Arabia and China who have invested in Papua. Do not let investors in the country just behind the investment there," said Chief Economist for Mirza Adityaswara Bank Mandiri in Jakarta, Thursday (1/10/2009) .
Mirza describes the potential of Papua suitable for any investment. Because all this time still form the majority of forest land and has not been utilized. But behind the forest, tucked mining (copper, coal, nickel, even gold). Another form of palm oil, minerals, and fisheries potential.
Only this time there are still many obstacles Papua. Later the government will also urged to immediately realize a good infrastructure of roads, ports and airports to speed up development.
"All this potential is a manufacturing region of Java, Kalimantan, for coal, suitable for Sulawesi Nickel and cocoa. While Papua provides that," he added.
Until the first half of 2009 the total third party funds (DPK) of Bank Mandiri in Papua approximately Rp1, 3 trillion. While total credit approximately Rp280 billion.
Chief Financial Officer of Bank Mandiri Pahala financing Mansuri claimed in Papua is still low when compared with the national financing. But at least the next two years, the amount of funding there will be increased.
To anticipate this, the bank has made an additional development areas in the eastern region to speed up the financing. So far, Bank Mandiri has had three development areas in Jakarta and eight regions outside Jakarta.
"We have permission from Bank Indonesia has left for funding to develop there. This includes opening new branch offices to speed up decision-making process. Including future efforts devoted to children," said Pahala.
In a later meeting, officials will participate is the Governor of Papua Barnabas Suebu, West Papua Governor Abraham O Atururi, Merauke Regent John GLUBA Gebze, Regent of Mimika, Manokwari, Fak Fak, and Mayor Bintuni Sorong. While its customers, the bank invited 60 customers snapper in the country who have a large capitalization.
"Customer snapper include Sinar Mas, Medco Group and state-owned holding company. Even Medco Group already had a garden there. So we will continue it," added Pahala
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