Dubai World

The Sun Never Sets on Dubai World; Arabic. TechnoPark’s efforts at IDA World Congress 2009 Prompt donation to UN’s Darfur 1001 Wells Project …

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www.dubaiworld.ae

Nakheel – Where Vision Inspires Humanity

Dubai real estate development company. Includes list of developments, corporate information, executive profiles, history, partners, and investor relations.
www.nakheel.com

Dubai’s crisis exploded on Wednesday when the emirate said it would delay payment on debt issued by one of its flagship firms, angering investors and sending global markets sharply lower.

Dubai World (Arabic: دبي العالمية‎) is an investment company that manages and supervises a portfolio of businesses and projects for the Dubai government across a wide range of industry segments and projects that promote Dubai as a hub for commerce and trading. It is chaired by Sultan Ahmed bin Sulayem.

A policy of selectively assisting cash-strapped companies affiliated with the government of Dubai, instead of providing blanket assistance, challenges assumptions made by many investors who assumed that wealthy Abu Dhabi provided a complete safety net for its racier neighbour.

Abu Dhabi, which pumps 90% of the oil that make the United Arab Emirates the world’s third-largest oil exporter, has already provided $15 billion in indirect support for Dubai through the UAE central bank and two private Abu Dhabi banks. How much more support the emirate provides for its cash-strapped neighbour, however, will depend on how Dubai clarifies its stand on unresolved issues.

Some projects By Nakheel

• Palm Islands
• Palm Jumeirah
• Dubai Exhibition City
• Dubai International City
• Dubai Maritime City
• Dubai Waterfront
• Trump International Hotel and Tower (Dubai)
• The Universe (Dubai)
• More – > http://www.nakheel.com/en/developments

Some recent background on the Dubai world  Recent troubled History – Wikipedia

2009 financial woes Dubai

With the onset of a global recession, Dubai’s real estate market declined after a six-year boom. On November 25, 2009, the Dubai government announced that the company “intends to ask all providers of financing to Dubai World and [its subsidiary]Nakheel to ’standstill’ and extend maturities until at least 30 May 2010″.^[3] The company will also undergo a restructuring process with the help of Deloitteconsultants. Several months earlier, Dubai World accounted for a $59-billion debt, nearly three-quarters of the emirate’s US$80-billion debt.^[4] This includes a US$3.5-billion loan which the company is unable to repay by its December deadline.^[5]

In response to the government announced moratorium of Dubai World’s debts, bothMoody’s and Standard & Poor’s Investors Services heavily downgraded the debt of various Dubai government-related entities with interests in property, utilities, commercial operations and commodities trading. In Moody’s case, the downgrade meant that the affected agencies lost their investment grade status.^[6]

Italy and Russia the biggest importers of Indian coffee  have massively slowed down on thier coffee imports.Total trade growth of Australia with India for 2008 has risen to  $15.356 billion.Blistering rise in the value of the rupee gives sleepless nights to Indian exporters, forcing many to shut down

India’s exports fell in May for the eighth month in a row as overseas demand for goods continued to shrink in the global recession

SURJEET JOLLY, MANUFACTURER AND EXPORTER OF SPORTS GOODS AND OWNER OF ROBINSON SPORTS, SAYING:

"The (rupee’s) appreciation continuation will mean 60 percent of the sports industry will close. More than 150,000 workers employed by us, those will be on the roads. They will be unemployed and that is going to affect the economy very badly and it will lead to crimes and many more things which the country does not need."

Exports in May were valued at 534.3bn rupees ($11bn; £6.7bn), down 29.2% from 655bn rupees a year earlier, government figures showed.

Exports are a significant driver behind the Indian economy, making up about 15% of gross domestic product.

Imports shrank 39.2% to 786.8bn rupees from 1.1 trillion rupees a year ago.

The falling price of oil was a significant factor behind the decline in imports. Oil currently stands at about $70 a barrel – less than half of what it was last summer.

Oil imports in May were down 60.6% on the year. India imports about 75% of its oil.

India’s trade deficit – the difference between imports and exports – halved to 252.5bn rupees from 533.2bn rupees a year earlier.

S.P. OSWAL, MANAGING DIRECTOR OF ONE OF INDIA’S LEADING TEXTILE FIRMS, VARDHMAN GROUP, SAYING:

"The industry will remain weak and if it remains weak for another four-five years, it will have very little chance of survival against world competition. Because our competitor is China, today our biggest competitor is China and China’s size of the industry is 300 billion dollars against India’s present size of only about 45 billion dollars. And if we cannot grow in the next five years to about 100-120 billion dollars while China will grow from 300 billion to about 450 billion dollars — they will crush us."

Australian tax return tips

This year we can expect, on average, a tax return increase of more than $300 based on goverment grants and reductions.

"It’s gone up quite considerably, we reckon last year people got about two thousand dollars, so to be getting $2,300 as a return this year is obviously a big increase,"

See if you qualify for Education Tax Refund for families with kids in school.The type of expenses you can claim include computers, internet, even repairs to computers."

You can claim up to $375 for children in primary school and up to $750 for children in secondary school.

This benefit applies to most parents earning less than $120,000 a year. It’s those earning seven figure salaries that the tax office has set its sights on.

Australian Tax Office Are targeting executives, directors and wealthy Australians this year.

In the past the ATO have only looked at wealthy Australians that had a net worth over $30m. This year the ATO are now able to go down to people with a net wealth of only $5m.

Nearly 12 million of us will lodge a tax return, the tax office will then hand back nearly $20b. It sounds like a lot but with wages being frozen and unemployment set to rise, it might be a while before we have that much cash coming in again.

what look out for  while lodging your tax returns ?

improperly stating income from rental properties; also from dividends, shares, interest and work related costs which shouldn’t be claimed, like clothing.

 

Do check to see if you qualify for claiming on your union fees.

"The Australian Tax Office this week sent out 600,000 letters to mostly rental property owners because they got things wrong like borrowing costs, repairs and maintenance, interest on their mortgages and also in relation to capital works deductions as well," .

Those most likely to be audited by the taxman will be truck drivers, sales and marketing executives and electricians.

When it comes to doing your tax return yourself or hiring a professional remember that accountants’ fees are tax deductible. Also keep in mind that 98% of audited returns done by individuals need some kind of adjustment – almost always down.

Last traded: $ 1.30
Sector: Industrials
Market cap: $1,556M
ACCUMULATE / MARKET PERFORM
Valuation: $1.55

Equity raising On 15 June 2009 Asciano Limited (AIO) announced it would undertake a $2b underwritten equity raising instead of selling part or all of its assets.

The actual offer price was $1.10 per stapled security for a $2b underwritten equity raising.

The raising comprises four parts:

 1-for-1 underwritten accelerated non-renounceable pro-rata entitlement offer to existing security holders to raise approximately $769m comprising $330m institutional component and a $439m retail component.

 $231m underwritten unconditional placement to professional and sophisticated investors.

 $1,000m underwritten conditional placement to professional and sophisticated investors.

 Up to an additional $151m through a non-underwritten conditional placement to Mark Rowsthorn — the release states that Rowsthorn intends to take up this offer to retain his 10.92% stake and

ABOUT ASCIANO

The company brings together the powerful combination of the Pacific National rail operations with the Patrick ports and stevedoring businesses to create a unique transport infrastructure company.

We own and operate a range of infrastructure assets including ports and rail across Australia.

Investor Fact Sheet

Year listed on ASX
2007

No. of Employees
8,000

ASX Code
AIO

Type of Securities
Stapled Securities

Revenue
$2.814.2 million*

EBITDA
$652.9 million*

EBITDA Margin
23.2%*

Key Operations
Owns and operates transport infrastructure assets
with a focus on ports and rail

CEO
Mark Rowsthorn

Head Office
Melbourne

*For the period 1 July 2007 to 30 June 2008

Asciano in $2bn share sale

Australian electrical goods retailer JB Hi Fi Ltd (JBH.AX

JB HI-FI 15 June,2009

15/06/2009 19:18 Sydney, Australia.

Price
Change
% Change

14.480
-0.120
-0.820%

• Company overview
• Real-time quote

JBH.AX , 14.480, -0.120, -0.820%) sees its profit for the year to June 30 rising to A$92 million ($72 million) after strong sales and cost-cutting, the company said on Tuesday.

The company had previously said it was comfortable with analysts’ forecasts for a year profit around A$87 million. It said it would open 160 new stores, up from an earlier planned 150

JBH.AX or JBH

The retailer has upgraded its 2008-09 profit guidance by 41% to $92 million, up from the previous guidance of $87 million. One stock picker says the company is better-placed than many of its peers if retail conditions weaken as the federal government’s stimulus cheques begin to peter out and unemployment rises.

JBH -About

JB Hi-Fi Limited engages in the retail of home consumer products in Australia and New Zealand. It offers consumer electronics, including televisions, high fidelity, DVD players, home theatres, digital still, video cameras, mobile phones, and accessories; electrical goods comprising whitegoods, computing equipment, kitchen equipment, air conditioners, and small electrical appliances; car sound systems, such as audio and visual products; and music, games, and movies. As of June 30, 2008, the company operated 93 stores in Australia and 12 stores in New Zealand. JB Hi-Fi was founded in 1974 and is based in Brighton, Australia.

www.jbhifi.com.au

There is no question that the stimulus payments have helped the company improve its margins. One stock picker says that despite the considerable run up in price, the stock remains an attractive alternative to its traditional rivals like Harvey Norman.
Management has reiterated that although the business is not recession-proof, it is currently the best-positioned retailer listed on the ASX.

JB HI FI IS A GOOD BUY AT CURRENT LEVELS

Current news on JB HI FI

Key developments for JB Hi-Fi Ltd. (JBH)

JB Hi-Fi Ltd. Expects to Open 160 JB Hi-Fi Branded Stores

06/9/2009

JB Hi-Fi Ltd. announced that it now expects to open 160 JB Hi-Fi branded stores of a similar size (sales and earnings) to the current average store. Previously, the company expected to open 150 stores. The company also expect to open a further 50 stores in smaller catchment areas which will primarily be in smaller mall and strip metropolitan shopping centres and country towns across Australia and New Zealand.

JB Hi-Fi Ltd. Revised Earnings Guidance for the Year Ended June 30, 2009; Reports Comparable Sales Results for the 11 Months Ended May 31, 2009

06/9/2009

JB Hi-Fi Ltd. revised earnings guidance for the year ended June 30, 2009. After continued strong sales, solid margins and cost control in the second half of fiscal 2009 the company expects its profit for the year ending June 30, 2009 to be circa $92 million, a 41% increase on the prior year NPAT of $65.1 million. Previous guidance was comfortable with average analysts expectations of $87.1 million. Sales are forecast to be circa $2.3 billion or a 26% increase on the prior year. Comparable store sales growth for the 11 months ended May 31, 2009 was 10.6%.

JB Hi-Fi Ltd. expected to Report Fiscal Year 2009 Results on August 17, 2009. This event was calculated by Capital IQ (Created on April 21, 2009).

04/21/2009

JB Hi-Fi Ltd. expected to Report Fiscal Year 2009 Results on August 17, 2009. This event was calculated by Capital IQ (Created on April 21, 2009).

JB Hi-Fi Limited (Australia Stock Exchange)

sector: Cyclical Consumer Goods & Services . industry: Retail – Computers & Electronics · View JBH on other exchanges

As of  2:10am EDT

14.48AUD

Price Change

-0.12

Percent Change

-0.82%

Analyst Recommendations

Independent Research |  Broker Research

Prev Close $14.60

Open $14.75

Day’s High $14.98

Day’s Low $14.47

52-wk High $15.16

52-wk Low $6.87

Beta 1.23

Volume 1,055,995

Avg. Vol 1,201,435

Mkt Cap. $1,557.57M

Shares Out 105.89M

EPS (TTM) $0.76

Div & Yield 0.31 (2.14)

Ex Div Date 12 Feb 2009

1d 5d 3m 6m 1y 2y 5y max

Research Another Stock: Symbol Look-up

Latest News

Australia’s JB Hi Fi sees higher year profit
Monday, 8 Jun 2009 08:25pm EDT

PRESS DIGEST-Australian Business News – Feb 11
Tuesday, 10 Feb 2009 02:42pm EST

Australia retailer JB Hi-Fi sees strong sales growth
Monday, 9 Feb 2009 04:36pm EST

JB Hi-Fi says Christmas sales ahead of last year
Tuesday, 6 Jan 2009 07:21pm EST

CORRECTED – CORRECTED-PRESS DIGEST-Australian Business News – Dec 29
Sunday, 28 Dec 2008 04:07pm EST

More JBH.AX News…

The 2 big iron ore miners Rio Tinto And Bhp billiton

Shares in Rio jumped as much as 13 percent to a 7-month high of A$75.75, nearly triple the price of the rights issue at A$28.29 a share, while BHP Billiton’s shares rose 10 percent to A$38.60 on the Rio venture, expected to save $10 billion in costs.

Technorati Tags: rio tinto,bhp billiton,big

Rio dumped its deal with Chinalco earlier today. Instead, BHP will pay Rio $US5.8 billion for a stake in a proposed joint venture between Rio and BHP on all of the existing and future Pilbara iron ore assets in WA. At the same time, Rio has announced a massive $US15.2 billion rights issue, which is renounceable and offered on an effective one-for-two basis.
Within hours of the announcement, Rio stock was up 11%, BHP stock was up 8%, Fortescue (the third biggest iron ore miner) was up 15%.

The ASX has now rebounded from rock-bottom lows of 3145 points in March to the 4000 mark in a matter of months. We may see a correction in the coming days, but the odds of a return to the dark days of late 2008 are slim. On that basis it’s time to get back to lucrative and enjoyable business of investing.

The extraordinary performance of small industrial companies listed on the Australian Stock Exchange in recent times appears to have turned around – but at the same time, small resource companies are outstripping the overall market.

“Canny investors will know that over the longer term, small-cap companies are the breeding ground for future leaders and can strongly outperform large stocks.”However, the wide range of performance differences between companies again emphasises the value of stock selection in today’s volatile market.”

Best performing caps in the small  caps market Apr-June09

Aditya Birla  549%

Pacific brands 403%

Alesco 347%

Macquarie Countrywide 312%

Macquarie DDR 297%

Ing Industrial 290%

Tishman Speyer 284 %

Lynas 282%

Bradken 265 %

Stock market investors have had a rough time in australia over the past few months. Those who have opted for shares in large, well-established companies such as banks, leading retailers such as Marks & Spencer and utility stalwarts such as BT have been among the worst hit. Instead of receiving the steady returns they had been accustomed to, investors have seen their dividends – and in some cases their capital – slashed to ribbons and even wiped out.

The forecast deficit for the fiscal year ending June 30, 2010, is 4.9% of gross domestic product, which would be larger than deficits in Australia’s two previous recessions in the early 1980s and early 1990s. It would also be almost double the current fiscal year’s deficit forecast of A$32.1 billion

The government expects China, Australia’s biggest trading partner, to emerge from a slowdown to once again boost the Australian economy. The government said that a return to double-digit growth in China is unlikely anytime soon, but China can be expected to grow by 8% in 2010 and 8.5% in 2011.

Melinda Cilento, chief economist at the Business Council of Australia, told Business Spectator that the budget takes important steps towards repositioning Australia.

Ms Cilento said the budget correctly targets infrastructure spending rather than cash handouts, but warned that the government will have to back up the measures with tough successive budgets.

Rams  Home loans has been spiking into positive territory for the past 3 days. i bought this tock back when it was 0.29 Cent and things were looking bad. since then it has been bought over into the  Westpac group and things have changed for the better. with Westpac doing well  RHG also seems to be benefiting from their relation with Westpac.

Westpac Banking Corp. (WBC AU) climbed 2.4 percent to A$19.96, the highest close in a week. Australia’s biggest lender by market value said first-half profit fell 6 percent and announced its first dividend cut in 17 years after charges for bad debts tripled.

I will be definitely Holding on to my parcel  of RHG shares  while  Looking forward to more positive spikes.

With the current market conditions we do not know for sure if it is a bear trap or then we have started in to the bull phase. But we can only hope so.

Harvey Norman  is another stock i would be keeping a close eye on  , specially with the Ruddstatic  tax bonus  of $900 dropping into  everyone’s coffers. we would see a lot of that money being spent on   Big  refrigerators or  then big screen televisions like i will. And that is definitely going to look good on Harvey Normans profit and loss statements.

Harvey Norman Holdings Ltd. (HVN AU) dropped 3.9 percent to A$3.20. Australia’s largest electrical retailer was cut to “underweight” from “neutral” by analysts at JPMorgan Chase & Co. in a note to clients.

Roc oil has also thrown in the gauntlet for a good cause  and  surely there will be takers if not later then sooner  and i will be watching this one as well . On other news the Australian $$ is rising , so some will be happy while some will be sad

CORRECTION:

RHG has *nothing* to do with Westpac.

The ‘old’ RAMS Home Loans had three assets:
#1 The RAMS brand.
#2 The RAMS distribution network of franchisee loan writers.
#3 A $16 billion book of existing home loans.

Westpac bought assets #1 and #2, and continues to trade as RAMS Home Loans. Anything being written by RAMS outlets is now going into a brand new loan book, funded by Westpac.

The ‘old’ company was renamed “RHG Limited”. It has retained asset #3 (the old loan book), which it is attempting to maintain funding for, and make a margin on. This is quite a struggle, given the $16 billion was originally lent out over 25 or 30 years using funding that needs to be repaid over 90 days or so. Short-term money used to be a lot cheaper than what RAMS on-charged its home loan customers, but the global financial crisis has put an end to that.

RHG has been forced to continuously re-fund the old loan book, on an almost month-to-month basis. This is sort of like taking a cash advance on your credit card in order to lend money to someone, then paying off one credit card with another as they become due – all the while trying to make a margin on the difference between your bank’s rate and what you earning on the money lent out.

As confusing as it may seem, RAMS Home Loans and RHG have *nothing* to do with one-another these days.

To verify Details please check with  www.westpac.com.au and  www.rams.com.au

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