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Over a decade of 'banana war' between EU, Latin America
December 15, 2009--The 16 year-long legal wrangling over banana tariffs between the EU and Latin American nations was the longest-running dispute in the history of the World Trade Organisation.
Here are key events during the dispute:
- July 1993: The European Union decides to give preferential treatment to bananas from African, Caribbean and Pacific (ACP) states and territories, many of which have historic links to EU members. This angers banana-producing countries in Latin America and also the United States, whose multinationals run much of the international trade in bananas.
- February 1996: The United States, in association with Ecuador, Guatemala, Honduras and Mexico, lodges a complaint with the WTO, claiming the EU restricted imports of their bananas into the bloc. The United States does not itself export bananas but three of the largest producers with plantations in Latin America are US-based multinationals -- Chiquita, Del Monte and Dole.
- September 1997: The WTO rules in favour of the plaintiffs, stating that the EU system is "inconsistent" with global trade rules.
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Source: EU Business
EU approves EUR 230m aid for developing countries
Demember 15, 2009--The European Union approved Tuesday 230 million euros (335 million dollars) in aid for 13 African, Caribbean and Pacific countries to help them confront the economic crisis.
The funds include 215 million euros from the so-called Vulnerability FLEX mechanism -- a 500 million euro fund adopted in August to help ACP nations deal with the impact of the crisis.
"Developing countries were hit hard by the crisis due to their poor resilience to external shocks," EU Development and Humanitarian Aid Commissioner Karel De Gucht said in a statement.
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Source: Eu Business
New ETFlab Equity Index ETF Launched on Xetra Hedge fund ETF reaches USD1bn in assets under management
The db Hedge Fund Index is asset weighted to the hedge fund industry and linked to the range of hedge funds available on Deutsche Bank’s X-markets Hedge Fund Platform. read more
Invesco PowerShares to launch four FTSE RAFI ETFs
• PowerShares FTSE RAFI Emerging Markets Fund read more
Banks expect recovery in 2010, cautious about government targets read more Markit, C-Questor launch new carbon standard
Projects will have to meet sustainability, additionality, biodiversity and transparent accounting benchmarks to be awarded it.
read more
Dow Jones Euro STOXX 50 Short Index Licensed to ETFlab to Underlie Exchange-Traded Fund
"The Dow Jones EURO STOXX 50 Short Index is an effective tool for investors aiming to track the performance of a short trading strategy that generates positive returns in declining markets. By licensing this index, ETFlab adds a product with a key investment strategy to its ETFs offering," said Ricardo Manrique, chief executive officer, STOXX Ltd. "The index's sophisticated, rules-based and transparent methodology enables market participants to access an innovative solution that can be used for both taking a specific view on the direction of markets or for hedging."
"For us the launch of the ETFlab DJ EURO STOXX 50 Short is a logic step towards offering a broad ETF toolbox to our customers. With the ETFlab DJ EURO STOXX 50 and the new complementary Short version we enable the investor to profit by bullish and bearish European equity markets," said Andreas Fehrenbach, CEO at ETFlab.
The Dow Jones EURO STOXX 50 Short Index replicates the inverse daily performance of the total return version of the Dow Jones EURO STOXX 50 Index. A negative performance of the blue-chip index results in a positive performance of the Dow Jones EURO STOXX 50 Short Index, and vice versa. If the Dow Jones EURO STOXX 50 Index loses -5%, the Dow Jones EURO STOXX 50 Short Index consequently gains 5%. The cost of dividends and the benefit of earning interest are also taken into account in the index calculation.
The Dow Jones STOXX Strategy Index series is designed to track enhanced investment strategies and includes the Dow Jones EURO STOXX 50 Short Index, Dow Jones EURO STOXX 50 Double Short Index, Dow Jones EURO STOXX 50 Leveraged Index, Dow Jones EURO STOXX 50 BuyWrite Index, Dow Jones EURO STOXX 50 PutWrite Index, the VSTOXX, Dow Jones STOXX 600 Supersector Short Indexes and Dow Jones STOXX 600 Double Short Index.
Further information on the Dow Jones EURO STOXX 50 Short Index is available at www.stoxx.com. Darling defies bank threats on bonus tax read more ETFlab offers short ETF based to DJ EURO STOXX 50
The new ETF is designed to gain in percent, on a daily basis, exactly what the DJ EURO STOXX 50
performance index loses, and vice versa. For example, if the DJ EURO STOXX 50 declines by two
percent, the Short ETF will rise by two percent. In addition, interest accrues daily, based on the latest
EONIA rate. The proportional management fee, which for the ETFlab DJ EURO STOXX 50 Short
amounts to 0.4 percent annually, will be abated from this.
“By that, we want to address highly experienced investors in particular”, Andreas Fehrenbach points
out. Because of the fact that the Short ETF always provides the inverse performance of the DJ EURO
STOXX 50 on a daily basis, only, it is not expected to provide the performance exactly contrary to a
corresponding long product, in all market periods. This may become important in volaltile markets
and a longer holding period, in particular. Should the markets, however, decline continuously over a
longer period, as was the case during the baisse from 2000 to 2003, and from 2007 to 2009, the
investor will, as a rule, profit from a Short ETF to an above-average degree. If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
December 14, 2009--Another new ETF issued by ETFlab Investment GmbH, a subsidiary of DekaBank Deutsche Girozentrale, has been tradable on Xetra since Monday.
ETF name: ETFlab DJ EURO STOXX 50 Short
Asset class: Equity index ETF
ISIN: DE000ETFL334
Management fee: 0.4 percent
Distribution policy: non-distributing
Benchmark: DJ EURO STOXX 50 Short
Source: Deutsche Börse
December 14, 2009--In under a year the db x-trackers db Hedge Fund Index ETF has reached more than USD1bn in assets under management.
As of 8 December the fund’s assets are USD1.05bn or EUR715m.
In January 2009 the db Hedge Fund ETF became the world’s first ETF to directly invest in hedge funds via the db Hedge Fund Index.
Source: Hedge Fund Express
December 14, 2009--Invesco PowerShares intends to launch four exchange-traded funds on 1 February 2010 to sit in its Fundamentally Weighted range of products.
The range, which already comprises five funds focused on the US, UK, Europe and the developed world equity markets, will be expanded by the following products:
• PowerShares FTSE RAFI Asia Pacific Ex Japan Fund
• PowerShares FTSE RAFI Hong Kong/China Fund
• PowerShares FTSE RAFI All-World 3000 Fund
Source: ETF Express
December 14, 2009--Türkiye Ýþ Bankasý and ING Bank have released their December reviews of the Turkish economy, noting that there will be a slow but gradual recovery in 2010 if government goals for inflation and fiscal spending are met.
In bulletins released yesterday by the Türkiye Ýþ Bankasý Economic Research Group and ING Turkey’s Treasury Group’s Economic Research Department, the two banks reviewed recent economic and political developments in Turkey amid signs that a recovery from the global economic crisis that began last year is imminent.
Source: Todays Zaman
December 14, 2009--UK-based financial information provider Markit and clean energy project developer C-Questor have launched a new carbon standard for low-carbon energy projects, the companies said on Monday.
The Carbco Platinum Carbon Standard will give extra certification and validation to clean energy projects in the voluntary and regulated U.N.-backed carbon markets.
Source: Yahoo
December 14, 2009--STOXX Limited, the leading provider of European equity indexes, today announced that the Dow Jones EURO STOXX 50 Short Index has been licensed to ETFlab Investment GmbH to serve as underlying for an exchange-traded fund (ETF). The ETFlab DJ EURO STOXX 50 Short will be available on Deutsche Boerse today.
The Dow Jones EURO STOXX 50 Short Index is part of the Dow Jones STOXX strategy index family. It replicates a short investment strategy, which is tied to the performance of the Dow Jones EURO STOXX 50 Index.
Source: Dow Jones Indexes
December 14, 2009--Alistair Darling has warned banks that he will not water down his 50 per cent supertax on bonuses or offer special deals in a standoff in which brokers and banks have threatened to move key staff out of the UK.
The chancellor has been deluged with claims by banks that the tax would raise far more than the £550m he predicted. They have demanded that he make the levy less onerous.
Source: FT.com
Profiting from Declining Markets
December 14, 2009--2009. ETFlab Investment GmbH, the Munich specialist for exchange traded
funds, allows to participate inversely in the movements of the Dow Jones EURO STOXX 50 through
ETFlab DJ EURO STOXX 50 Short. “With it, market participants can profit from declining markets but
also safeguard portfolios”, Andreas Fehrenbach, the CEO of ETFlab Investment GmbH, emphasizes.
Because of the financial market turbulence, the demand for inverse ETFs has strongly increased over
the last view months, as, like all ETFs, they can be traded very flexibly and allow differentiated acting
in negative stock-markets. According to findings of ETFlab, particularly active portfolio managers
increasingly utilize these passive instruments to safeguard positions on a short term basis or to
generate additional yields. „Short ETFs are especially helpful for investors, who are not allowed to
use derivatives, as they are also issued as investmentfunds”, Fehrenbach explains.
Source: ETF LAB