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Sunday, September 16, 2012
Table Forexpros weekly economic data
provide daily updates of key economic events and global trading during vacations next week.
The Engineers – Fluor and KBR – a Saner Play on Natural Gas?
Natural gas prices are up some 50%-plus since an April low, giving investors hope that those pulverized shares of gas drillers will have some life yet. But so far, a couple of engineering companies are getting the bigger bang from this rise.
enry Hub Natural Gas Spot Price data by YCharts
Engineers Fluor Corp. (FLR) and KBR (KBR) both reported in the last few weeks strong business, often from natural gas related projects. Order books are stronger than analysts had expected, and both companies boosted their earnings projections recently. While both shares still underperform the S&P 500 for the year, those recent announcements helped them make up some lost ground, as seen in this stock chart.
FLR data by YCharts
Shares of both companies are awash in buy recommendations at the moment. Fluor is the industry stalwart with an $8 billion market cap and a 1.3% dividend yield. KBR, at a $4 billion market cap, is a pint-sized Fluor drawing forecasts of a record share price in the next year or so. PE ratios have moved but aren't sky high.
FLR PE Ratio data by YCharts
That’s largely because shares of Fluor and KBR got kicked down last year as U.S. government spending in Iraq and Afghanistan began to wind down. Fluor is the largest publicly traded engineering company and a big Department of Defense supplier. KBR, which until 2007 was a division of Halliburton called Kellogg Brown & Root, was the U.S. Army’s biggest contractor last year. Both companies will see their government paychecks cut this year.
Both companies are expected to replace government work with more lucrative private energy contracts. In particular, the boom in natural gas production has put the engineers in demand even though natural gas prices remain low. Regardless of the damage that the gas rush did to producers, natural gas is still seen as the fuel for the immediate future; a cheaper, cleaner alternative to oil and coal. Power and manufacturing plants are still converting to it, and with fracking making the stuff easier to get out of the ground, producers still expect to supply a lot of it for years to come.
Companies like Fluor and KBR get paid for engineering down the line, from the facilities to get the gas out of the ground, to the gas-to-liquids operations necessary to transport the product, to the manufacturing plants around the world designed to run off the product. Fluor’s overall order book was up about 7% in the most recent quarter over a year ago. KBR’s rose 27%.
It’s hard for many natural gas producers -- Chesapeake (CHK), Sandridge (SD), Anadarko (APC), Devon (DVN) -- to make money on this demand today.
A very hot summer requiring lost of air conditioning has helped eat down the glut of gas and brought up that Henry Hub spot price, but it remains less than a third of what it was when many of these companies were forking over the massive amounts of cash it took to get in on the fracking rush. Last year’s even lower prices did serious damage to some balance sheets. There hasn’t been a lot of enthusiasm for the sector as a value play recently.
CHK data by YCharts
Investors obviously haven’t had a lot of luck forecasting natural gas prices, and there’s no real consensus on if or when higher prices will prevail. Fluor and KBR get great marks for fundamentals from YCharts Pro. They will get paid for the contracts in their pockets whether Henry Hub rises or fall
Today's oil price
Daily change of 0.97 ( 0.99% )
Oil Quote Updated Sep-16-12 2:30 PM
Sites discovered the diamonds that could lead to a technical revolution
Diamond deposits are located in the crater formed by a meteorite 35 million years ago
Of diamonds, twice harder than ordinary, located on the border Krasnojarskog region and Yakutia, in the area of the crater formed by a meteorite 35 million years ago.
Soviet scientists back in the seventies there found the first diamonds - Impact with unusual properties: they are twice as strong as normal and had a different structure, but as the time began building factories for prozivodnju synthetic diamonds, studies were suspended on information on the site put the label of secrecy.
After declassifying geologists were able to return to the study of the properties of this mineral.
Zomm forward!
He says the institute's director Nikolai Pohilenko, "but first results are sufficient that we can talk about a possible turnabout on the entire diamond market."
Resources superhard diamonds, which are found in rocks of the crater Poligaj substantially exceed all tested world reserves - it's about trillions cards, said Pohilenko and, for comparison, said today that the reserves surveyed sites in Yakutia the billion-graded cards.
Deputy director of the institute "Jakutnipromalmaz" Gennady Nikitin told Itar-tas with that poligjaski diamonds "can reverse all, and what will then happen to prices in the market, is not clear."
According to academics Pohilenka, impact diamonds add value to unusual abrasive properties and large scale grain.
"This significantly expands the sphere of their industrial applications and makes them valuable for industrial purposes, in the processing of metals, semiconductors and making efficient like that," explained the scientist.
He added that nowhere in the world have not yet found impaktiti with such characteristics, which experts the opportunity to talk about their extraterrestrial origin and that Russia becomes the sole owner of limitless reserves of unique raw material, which is required in the field of modern technology.
According to calculations of scientists, reserve and resource "will be sufficient over the world for three thousand years," and the application of these minerals, they believe, in the manufacturing industry is able to perform technical revolution.
A number of major corporations have demonstrated a serious interest in the raw material and that the matter was discussed at a round table "for the new economy, new materials," held at the Novosibirsk Forum "2012 Inter."
HEP seeks higher prices of heating
Media claim that the price increase affected about 123 000 households
Zagreb
Croatian Electric Power (HEP) has sent a request to increase heating costs by almost 37 percent in Zagreb, Velika Gorica, Sisak, Zapresic Samobor and Osijek. reasons as price increases of 36.7 percent in HEP cite the fact that prices have not increased since the heating 2009th year, as well as fuel, which is now more expensive, it costs three quarters. "last price hike was heating in 2009. Meanwhile, fuel prices have risen, taking part in the overall cost structure by 75 percent.'s gas rose more than 60 percent and liquid fuel more than 40 percent, "refine from HEP. HEP is sent by the increased demand for local authorities in six cities in northwestern Croatian, according to the Energy Act, will make a final decision based on the opinion of the Croatian Energy Regulatory Agency. Media specifying that the price increase affected about 123 000 households.
Montenegrin citizen Grieved BH for 150 million?
Sadiković was arrested with five other of his relatives in the police action SIPA "Barefoot" which was launched on Wednesday evening in BiH
Part of the money seized in the "Bos" (Photo: Sipa)
Prosecution has requested two days remand Anes Sadikovic citizen of Montenegro, nekrunisanog Emperor Chinese goods in BiH, with a few relatives suspected of embezzlement of more than 150 million tax transferred the Bosnian "Independent newspaper".
Sadiković was arrested with five other of his relatives in the police action SIPA "Barefoot" which was launched on Wednesday evening in BiH.
"Independent" is confirmed that, in addition to first suspect, still in custody claimed by Damir brothers and Ismet Sadikovic, the owners of "Eco Dream" in Banja Luka, and through which, in the past six years in BiH imported Chinese goods worth several billion convertible marks.
Apart from them, the detention is still unclaimed Kasim Sadikovic father first suspect Anes, and for AS and JK
Sadikovic charged with organized crime in connection with tax fraud, customs fraud and money laundering.
Zomm forward!
Boris Grubesic, a spokesman for the Prosecutor's Office, said two days ago that the detention of the suspects asked, fearing that, if they are kept in custody, escape outside BiH.
Source of "independent" close to the investigation explained that Sadikovic have dual citizenship of Montenegro and Bosnia and Herzegovina, since they come from Prijepolje.
Detention is requested and fearing that suspects hinder criminal proceedings by influencing witnesses and obstructing an investigation in general.
It is interesting that the company "Eco Dream" in recent years has become a major importer of Chinese goods, and so mark these firms are located in major shopping malls and boutiques across the country.
A source close to the BiH security agencies discovered earlier "independent" to be the center being the biggest action against customs mafia are tugs of Chinese goods that have flooded the market in recent years BiH.
"Anes Sadiković and his close relatives in the past six years have imported Chinese goods worth several billion KM, and invoices, this value decreased to 40 million. Customs frauds are so damaging BiH budget for astronomical 300 million KM ($ 150 million), "explained the source of the" Independent ".
SIPA is in operation codenamed "Boss" raided 23 locations, and residential and commercial buildings in the market Sadiković "Arizona" and in Banja Luka, Sarajevo, Gradačac, spikes and Doboj - South.
Found and temporarily seized financial and business documents, cell phones, phone cards, firearms, computer and other equipment that was used to carry out the above and other offenses.
Searched the company "Eco Dream", "Janus," "The Tours" and "United Express".
Mortgage Loan
Is a loan secured by real property through the use of a mortgage note of the evidence and the existence of the loan and mortgage through grants which guarantees mortgage loan. However, the word mortgage alone, in daily use, and is often used to mean mortgage loans.
Word mortgage is French law meaning of the term "decade of death", and this means that the pledge ends (dies) when either is to fulfill the obligation or the taking of property through foreclosure]
A home buyer or obtain construction financing (loan) either to purchase or secure against the property of a financial institution, such as a bank or credit union, either directly or indirectly through intermediaries. Can the features of mortgage loans such as the size of the loan, the maturity of the loan and the interest rate and method of repayment of the loan, and other characteristics vary greatly.
In many jurisdictions, but not all (Bali, Indonesia being one exception, it is natural that is financing the purchase of homes by a mortgage loan. Some individuals have enough savings or liquid funds to enable them to buy the property outright. In countries where the demand for home ownership is highest, and put strong domestic markets.
Gas, Electricity
Utilities
Utility Companies are facing new challenges in securing the talented, senior level leaders with the capabilities to negotiate within and drive forward an industry on the cusp of change. Increased competition, market knowledge, coupled with a need for previous business network contacts are essential considerations if organisations are to be successful and be recognised as leaders within this field. Our holistic and diagnostic approach enables us at Future Corporate Solutions to identify the industry experts and match them with precision to the needs of your business.
The U.K utilities sector remains highly competitive in comparison to other global utility markets and incredibly valuable at a worth of over £8bn. Energy demand growth is forecast to increase in the developed world by 111% and by 645% in the emerging economies by 2030.
The manufacturing and transportation of Liquid Gas (LNG) has also seen a major growth, by 2005 there had been a 70% increase in forecast in the LNG market. The UK and international markets are going to need to work collaboratively and provide Long-term investment in new technology in order find new sources of oil and gas.
The expectations are for the value of underlying construction project implementations to remain firm for much of next year, before falling back during the closing months of 2010 and early 2011.
National Grid is preparing a major extension of its upgrade programme in a move that will open up billions of pounds of construction work.
The utility industry, which currently spends about £3bn a year on construction projects, is hoping to attract consultants and contractors outside its current partnering arrangements to compete for the work both in one-off tenders and new partnerships.
The Ministry of Defence (MoD) is looking to re-tender almost £2.5bn of work now split between five contractors in a bid to cut construction costs.
The consensus within industry is that the National Grid are set to pursue projects worth as much as £10bn in order to upgrade the transmissions network to ensure it is capable of transporting sufficient energy to meet the increasing demand for onshore and offshore renewables. This massive task is also coupled with a new interest in emerging nuclear markets, high-voltage direct current links and carbon capture and storage. It is forecast that the associated spending will amass to £20bn.
Smart Metering
The way that Power is supplied in to our properties, both Domestic and Commercial, has changed very little over the past decade. Power is fed into the grid from power stations and delivered to us. To this day most utility companies rely on consumers to tell them that the power is out which then instigates a lot of investigation and man hours to identify the cause.
electricity This may be changing at last. A global movement is afoot to make grids "smart". This means adding all kinds of information technology to the process. Smart Grids have many advantages, some of which are avoiding blackouts and outages as well as saving energy and helping the environment. The American economy alone loses $150 billion a year in outages.
Governments around the globe have earmarked parts of their stimulus packages for smart grids. Utility companies have started to spend serious money. In recent years American venture capitalists have put more than $1 billion into smart-grid start-ups. Big electrical-engineering firms and information-technology giants are joining in to ensure they are the leaders in this pioneering new technology.
Some countries are further ahead than others in developing smart grids. Italy and Sweden are leaders in the market, some utility companies in Italy have already started installing smart meters in most households to clamp down on theft and cut off non-payers remotely. Sweden has recently become the first Government to make smart metering mandatory ensuring every customer now has a smart meter.
America's Department of Energy will soon start to dole out the $3.9 billion earmarked for smart grids in the country's stimulus package. In Germany, smart meters will be compulsory in new buildings from next year. Britain plans to complete a rollout of such devices by 2020.
The U.K utilities sector remains highly competitive in comparison to other global utility markets and incredibly valuable at a worth of over £8bn. Energy demand growth is forecast to increase in the developed world by 111% and by 645% in the emerging economies by 2030.
The manufacturing and transportation of Liquid Gas (LNG) has also seen a major growth, by 2005 there had been a 70% increase in forecast in the LNG market. The UK and international markets are going to need to work collaboratively and provide Long-term investment in new technology in order find new sources of oil and gas.
The expectations are for the value of underlying construction project implementations to remain firm for much of next year, before falling back during the closing months of 2010 and early 2011.
National Grid is preparing a major extension of its upgrade programme in a move that will open up billions of pounds of construction work.
The utility industry, which currently spends about £3bn a year on construction projects, is hoping to attract consultants and contractors outside its current partnering arrangements to compete for the work both in one-off tenders and new partnerships.
The Ministry of Defence (MoD) is looking to re-tender almost £2.5bn of work now split between five contractors in a bid to cut construction costs.
The consensus within industry is that the National Grid are set to pursue projects worth as much as £10bn in order to upgrade the transmissions network to ensure it is capable of transporting sufficient energy to meet the increasing demand for onshore and offshore renewables. This massive task is also coupled with a new interest in emerging nuclear markets, high-voltage direct current links and carbon capture and storage. It is forecast that the associated spending will amass to £20bn.
Smart Metering
The way that Power is supplied in to our properties, both Domestic and Commercial, has changed very little over the past decade. Power is fed into the grid from power stations and delivered to us. To this day most utility companies rely on consumers to tell them that the power is out which then instigates a lot of investigation and man hours to identify the cause.
electricity This may be changing at last. A global movement is afoot to make grids "smart". This means adding all kinds of information technology to the process. Smart Grids have many advantages, some of which are avoiding blackouts and outages as well as saving energy and helping the environment. The American economy alone loses $150 billion a year in outages.
Governments around the globe have earmarked parts of their stimulus packages for smart grids. Utility companies have started to spend serious money. In recent years American venture capitalists have put more than $1 billion into smart-grid start-ups. Big electrical-engineering firms and information-technology giants are joining in to ensure they are the leaders in this pioneering new technology.
Some countries are further ahead than others in developing smart grids. Italy and Sweden are leaders in the market, some utility companies in Italy have already started installing smart meters in most households to clamp down on theft and cut off non-payers remotely. Sweden has recently become the first Government to make smart metering mandatory ensuring every customer now has a smart meter.
America's Department of Energy will soon start to dole out the $3.9 billion earmarked for smart grids in the country's stimulus package. In Germany, smart meters will be compulsory in new buildings from next year. Britain plans to complete a rollout of such devices by 2020.
Google: A film about Mohammed does not violate the conditions of using our service
"Some content may be acceptable in one region, but it is perfectly acceptable in another"
Parts of the film "Innocent Muslims" published on the YouTube network does not violate the conditions of using the services of Google, which owns the network, according to statements from Google, according to The New York Times.
Google, as reported, blocked access to the video in India and Indonesia, where it is displaying video content for which the Muslim world at his feet for a few days, violate local laws.
Google has temporarily banned access to video on Wednesday in Egypt and Libya, not because the company is, as stated, are considered to violate the law or because they were showing parts of the film "Innocent Muslims" violated YouTube's Terms of Service, but because they estimate that the such a measure is necessary because of the seriousness of the situation.
The video is available in the rest of the world, even though the protests will spread to nearly 20 countries, from North Africa to Indonesia.
At Google, we state that the decision was made in accordance with the ordinance, which takes into account both the policy of the company, and the laws of the countries in which YouTube users have access to the network. In addition, Google also considers the cultural norms in environments where users have access to its service.
"Some content may be acceptable in one region, but it is perfectly acceptable in another," reminiscent of the company on the policy adopted in 2007.
Controversy over video showing clips of the Muslim countries who believe that mocked the Prophet Mohammed, brings into question the role of Google in determining what is acceptable content shown online, and which is not.
YouTube users can ensmetano to set the content they want. Every minute on that network gets set to 72 hours of video. Facilities classified as inadequate unless they designate such other users, or if Google receives a valid court order, and if there is a request for the removal of certain state facilities for breaking the law.
That's in case of displaying parts of the film "Innocence Muslims' case in India and Indonesia, countries whose laws prohibit displaying content that provoke hostility.
Google were treating a total of 45 countries, including Egypt, not Libya, Pakistan or Avagnistan.
"We restrict access video in the countries in which we are otherwise required by law," as reported by the company.
At Google, he says, support the people's right to freedom of expression, but they are well aware that freedom of expression can not be unlimited.
It is difficult to determine where those boundaries. For companies such as Google, which provides services in more than 100 countries in the world, countries with different national laws and cultural norms, it is a challenge we face every day. "
Unlike Google, Facebook are in at the request of the government, restrict access to the link to the movie in Pakistan.
Low-cost and highly questionable artistic film "Innocent Muslims" infuriated Muslims across the Arab world for presenting Mohammad as a violent womanizer.
Islam forbids showing the Prophet Muhammad in any form, especially in a pejorative context. The case with the Prophet Muhammad cartoons in newspapers in Denmark has sparked a wave of violence in many Muslim countries.
Brought one of the authors of the book
The U.S. federal police took to examining one of the authors of "Innocent Muslims" Nakulua Baseleja, which has caused a wave of protests in Muslim countries.
According to data from the media, Nakula was taken to the police station, accompanied by several police officers.
Police said that the author of the film voluntarily surrendered, and that therefore he had no handcuffs, reported Radio "Echo of Moscow".
He is talking about a possible breach of the suspended sentence, police reported today.
Spokesman for the Los Angeles County Sheriff said that Nakula voluntarily left home accompanied by sheriff's deputies to speak to the police station in Seritos in California, but that is not in custody.
"With him, it will discuss the federal police probation. Either at one time he was not handcuffed to the arm. Was all on a voluntary basis," said spokesman Steve Viitmor, Tskhinvali.
Nakula (55) is defended illness in order to receive a reduced sentence for bank fraud 2010th year. In a court transcript in which the AP had access, writes that Nakula had hepatitis C, diabetes and other diseases.
AP states that Nakula member of Coptic Christians in the United States.
His counsel argued that Nakula must care for a sick father and children and sought to house arrest.
Other media reports said Nakula provided organizational support to other writers of the film.
Posted on: 15/09/2012 16:33
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