The International passenger traffic in 2010 grew globally by 8.2 percent over the previous year, says a report published today by the International Air Transport Association (IATA). Cargo (cargo) shipments by airplane in the world have increased year by an impressive 20.6 percent, according to IATA. For the last year of employment sites in passenger traffic increased by 2.7 percentage points to 78.4 percent, while occupancy for freight increased by 5.2 percentage points to 53.8 percent. In relation to the results of the IATA Director General Giovanni Bisinyani commented that the airlines have completed the year with the performance, slightly exceeding those in before the crisis year of 2008, however, with the paltry 2.7 percent rate of return. In his words, “the task now lies in the need for mobility of people to contribute to stable profits for airlines. By region the highest growth in passenger traffic annually in the world marked the air carriers from the Middle East – 17.8%, followed by airlines in Africa – 12.9 percent. In the airlines of the Asia-Pacific growth in shipments is 9%, while airlines in North America – 7.4%. The most modest results reflect European airlines – those with growth in passenger traffic was only 5.1 percent. According to the findings of IATA that is associated with lower rates of economic growth in Europe, the consequences of the debt crisis, rising taxes and measures of governments for budget savings.
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If the past 365 days are any indication, 2011 could be year of the strong rise in the dollar, said Scott Boyd, a currency analyst at Toronto-based OANDA. In 2010 relations between the dollar and euro vacillates between love and hate. The dollar gained more than 8% against the euro since last January, but in practice was extremely volatile for both currencies. In June, when almost certain failure of Greece surprised the markets, the euro has fallen to 4-year low against the dollar. Last year the world economy began to emerge from the crisis, but tension remains in Europe and this could be a huge plus for the dollar. Nobody wants to be mixed with the euro now for fear of rumors of new government failures in the eurozone, which would certainly in trouble strands single European currency even further down. It was clear what we want about the current state of U.S. economy, but when investors seek refuge from economic storms, namely the U.S. dollar offers the best comfort, says Boyd. Ultimately, investors seek the highest possible level of security and this applies both to central banks and private investors. Only China and Russia hold dollar-denominated assets to nearly $ 2 trillion. Aside from the risks in Europe, there are a series of local factors that are likely to have an effect on the value of the dollar over the next 12 months. This factor is interest rates the Federal Reserve (Fed). Analysts are nearly unanimous that the current levels of base rate in the U.S. from 0% – 0.25% – designed to support consumption by making loans more affordable – will remain unchanged throughout the year.
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The largest commercial bank in the U.S. – Bank of America returned to profit after three consecutive quarters of red territory since it acquired investment bank Merrill Lynch has realized good results and allocation provisions for bad loans fell. The positive financial result for the first quarter amounted to 3.18 billion dollars or 28 cents a share before distribution of dividends. A year ago when it was last quarter in which Bank of America reports profits she had amounted to 4.25 billion dollars. The results were better than analysts’ expectations, notes Bloomberg. Yesterday, shares of the bank closed at a level of 19.48 dollars or more than 6 times the level in March 2009 when it was imminent danger of nationalization of the financial institution. Several days ago the biggest competitor of the U.S. bank JP Morgan Chase announced yet another quarter, which ends with profit.
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Undergone a procedure of bankruptcy American automobile company General Motors announced it would return to profit of its European Opel division to profit in 2012, reported the British radio BBC. Michigan manufacturer for this purpose will pour 1.9 billion to restructure Opel, which is three times more money than originally announced. Currently, GM has asked the European Commission, which allow the countries in which cars are produced by the mark, to grant guaranteed loans amounting to 2 billion euros. The amount is by 700 million euros less than the previous similar inquiry by the U.S. manufacturer. GM plans over the next 5 years to put 11 billion euros in the development of new models complement the British media. Only this year have provided the prime ministers of eight new models, a new next four. By the BBC noted that the increase in funds provided for Opel, might prove difficult political task.
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Tumult on stock markets in Asia and improving conditions for doing business in the region virtually doubled the number of billionaires in India, reported Reuters correspondent agency in Mumbai, referring to the list of magazine Forbes. In terms of growth in the stock market by 75 percent this year and GDP growth of 7 percent Indian billionaires from 27 in 2008 are already in this 52th. Leader in the leaves is the majority owner of the largest private company Reliance Industries Company Mukesh Ambani. His condition is calculated on $ 32 billion, second in the ranking is Lakshmi Mittal with $ 30 billion in three falls and honorary brother Mukesh – Anil Ambani, whose fortune is estimated at $ 17.5 billion. “Happy time for rich Indians with Evert,” said the editor of the Asian edition of Forbes Nazhin Caramel. According to him in 2009 showed that in terms of good financial markets and the rapidly developing Indian economy, the number of billionaires is growing significantly faster than in other countries with the same or even better conditions.
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The level of unemployment in Japan in July rose to 5.7 percent, which is the highest level since 1953 when it is launched and reporting of the indicator, forward Bloomberg, citing official statistics. The growth of unemployment exceed the forecasts of analysts who had expected it to rise to 5.5 percent after 5.4 percent in July. Highest level of people without permanent employment was in April 2005. The ratio of space to applications fell to 0.42, which means that for 42 seats have fought 100 candidates, which is also a record, the agency added. Companies from Toyota to Japan Airlines, continue to exempt staff, as well as outside of Japan. The country’s exports declined by 36.5 percent in July, which is ten consecutive decrease.
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The Sales of automobile company Ford Motor Co. increased by 2.3% in the U.S., which is the first growth from November 2007, Reuters transmitted from Detroit. This was possible thanks to the government’s program for upgrading cars. Due to its rapid depletion it was stopped. Account number is 165 279 sales in July brands all of Ford. For the same period in 2008 they were 161 530 units. Growth of 1.6% reported basic models and Lincoln Mercury, 158 to 838 pieces. Brenda Sales of Volvo, which the U.S. is owned by Ford, have increased by 25.7% to 6 441 units. Ford is the only American automobile manufacturer, which went through the procedure of bankruptcy to reorganize operations and has not received government funding.
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The value of purchases made with MasterCard in Europe with growth of 3 percent for the second quarter versus the same period last year. From April 1 to June 30, cardholders of the Old Continent have made 1.7 billion card payments with their MasterCard, including the Internet. At 30th June 2009, 196 million cards MasterCard (without the inclusion of the Maestro and Cirrus), were issued by financial institutions, customers of MasterCard, across Europe, which increased by 3.8 percent, compared with results for the second quarter of 2008. The European cardholders could use their MasterCard cards at 8.6 million locations in the region and 29.4 million locations worldwide, including online.
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The Swiss bank UBS announced losses of 1.4 billion Swiss francs (about 916 million) in the second quarter of the year, reported BBC. Although the reporting period, market conditions have improved economic environment in many areas of the bank remain in recession, marked by the credit institution. One of the main reasons for this negative result is the removal of assets from the division of the bank in the U.S. Sought comment on analysts believe that the net loss of UBS will be tripled by the end of the year. In turn, the bank announced that it will act very carefully and constantly monitor their prospects. “Overall, our forecast has not changed and is consistent with our view that economic recovery will be hampered because of low levels of lending and structural weaknesses of the consumer and government accounts, write to the shareholders of the bank president of UBS Osvald rough and President Board of Directors Viliger Caspar.
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The index of activity in services in the U.S. in June and rose more than expected on the market. The index of the Institute for supply management (ISM) on the activity in the service sector in the U.S. in May rose to 47.0 points, its highest level since 9 months. Consensus expectations were for the market increase to 46.0 points in May after the index reached 44.0 points. Lowest level of 37.4 points indicator for activity in the service sector, which forms about 80 percent of U.S. economic activity, was reached in November last year. If the value is below 50, the indicator points to slowing the rate of economic development. Auxiliary indicators for employment in the services sector in the U.S. in May rose by 43.4 points to 39.0 points in May.
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