China's government promises crackdown on farm produce profiteers

2010-Jun-12, 11:52

China's government promises crackdown on farm produce profiteers

BEIJING, May 27 (Xinhua) -- China's State Council, the Cabinet, has pledged to crack down on farm produce profiteers and strengthen management of local government fund-raising units.

China's grain output has risen six years in a row, but a run of natural disasters since last winter has dented output, said a statement released Thursday after the Cabinet's executive meeting chaired by Premier Wen Jiabao was held Wednesday.

Some speculators have hoarded certain products, pushing up prices, so effective measures had to be taken to crack down on the speculation, said the statement.

Prices have soared remarkably for garlic, mung bean, black soy bean and other nonstaple food grains.

Statistics from the National Bureau of Statistics showed mung bean was priced at nine yuan (1.32 U.S. dollars) a kilogram in October in 2009, but soared to 20 yuan in May.

The Cabinet also vowed to tighten monitoring of fund-raising units set up by the local governments.

Local government fund-raising vehicles had contributed greatly to economic and social development, but problems such as "excessively rapid expansion" and sub-standard operations had also arisen, said the statement.

 



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Commercial Real Estate Vacancies to Peak Near Early 2011

2010-Jun-12, 11:49

Vacancy rates continue to rise in most commercial sectors and are not expected to level out in most markets until the end of this year or early 2011, according to the National Association of Realtors.

Lawrence Yun , NAR chief economist, said there is one bright spot in commercial real estate. "The multifamily sector can expect increased demand as the economy creates jobs and new households are formed, likely in the second half of this year," he said. "However, the office, warehouse and retail sectors continue to experience the delayed effects of the recession. These sectors should see gradual improvement after jobs pick up and create additional demand for space, meaning a broader improvement in commercial real estate is likely in 2011."

The Society of Industrial and Office Realtors® , in its SIOR Commercial Real Estate Index, an attitudinal survey of nearly 700 local market experts,(1) confirms that significant fallout from the recession remains, but to a lesser extent.

The SIOR index, measuring 10 variables, increased 2.7 percentage points to 38.2 in the first quarter, compared with a level of 100 that represents a balanced marketplace. This is the second gain following nearly three years of declines; the last time the market was in equilibrium was in the third quarter of 2007.

Development activity remains at a standstill with nine out of 10 respondents saying that it is virtually nonexistent in their markets.

Looking at the overall market, commercial vacancy rates appear to be approaching a plateau, according to NAR's latest COMMERCIAL REAL ESTATE OUTLOOK.(2) The NAR forecast for four major commercial sectors analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data were provided by CBRE Econometric Advisors.

Office Market With an elevated level of sublease space available, vacancy rates in the office sector are projected to increase from 16.9 percent in the first quarter of this year to 17.6 percent in the first quarter of 2011, but should ease later next year.

Annual office rent is likely to fall 2.3 percent this year and decline another 2.1 percent in 2011. In 57 markets tracked, net absorption of office space, which includes the leasing of new space coming on the market as well as space in existing properties, is forecast to be a negative 24.6 million square feet this year and then a positive 25.5 million in 2011.

Industrial Market Leasing activity in the industrial sector is below historical levels with higher vacancies, more tenant concessions from landlords and a steeper decline in rental rates. In addition, obsolete structures remain on the market. Industrial vacancy rates are expected to rise from 14.3 percent in the first quarter of 2010 to 14.8 percent in the first quarter of 2011, then decline modestly as the year progresses.

Annual industrial rent will probably drop 6.3 percent this year, and decline another 1.5 percent in 2011. Net absorption of industrial space in 58 markets tracked is seen at a negative 90.0 million square feet this year and a positive 135.6 million in 2011.

Retail Market Retail vacancy rates should rise modestly from 12.6 percent in the first quarter of this year to 12.8 percent in the first quarter of 2011, and should hold at that level for most of next year.

Average retail rent is projected to decline 1.5 percent in 2010, then edge up by 0.4 percent next year. Net absorption of retail space in 53 tracked markets is likely to be a negative 3.7 million square feet this year and then a positive 8.9 million in 2011.

Multifamily Market The apartment rental market -- multifamily housing -- is expected to benefit from an improving economy and job market. Multifamily vacancy rates are forecast to decline from 7.3 percent in the first quarter of this year to 6.3 percent in the first quarter of 2011.

With recent additions to supply, average rent is likely to slip 1.5 percent this year, and then rise 1.2 percent in 2011. Multifamily net absorption should be 145,700 units in 59 tracked metro areas this year, and another 214,500 in 2011.

The COMMERCIAL REAL ESTATE OUTLOOK is published by the NAR Research Division for the commercial community. NAR's Commercial Division , formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR.

The NAR commercial components include commercial members; commercial committees, subcommittees and forums; commercial real estate boards and structures; and the NAR commercial affiliate organizations -- CCIM Institute, Institute of Real Estate Management, Realtors Land Institute, Society of Industrial and Office Realtors, and Counselors of Real Estate.

Approximately 79,000 NAR and institute affiliate members offer commercial brokerage services.

The National Association of Realtors, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

 
































































 

 

 

 

Comment

2010-Jun-12, 11:47

CELEBRITY businessman James Caan is right when he points to a recovery in the housing market as key to ending the recession. no doubt that the value of property has an effect on people's security.

Despite the other factors a feeling that their home is growing in value gives people the feeling of stability that will have a knock- on effect.

Today's announcement by the new Government of plans to scrap the HIPs will be one small step to revitalising the market.

Next there needs to be movement by the banks to ensure that mortgages are available for buyers.

Finally, with confidence beginning to grow, builders will be able to re-ignite their development plans ensuring there is the supply needed.

With those three steps we may begin to see the signs of sustainable recovery.

But we must also ensure we learn the lesson of this recession and not let the market over-reach itself.

The market must grow in a sustainable way.

 

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Comelec to evaluate Smartmatic compliance

2010-Jun-12, 11:41

Compliance and effects of non-compliance of Smartmatic-Total Information Management (TIM) Corp. in the poll automation contract will be evaluated by the Commission on Elections (Comelec).

Comelec Spokesman James Jimenez said that it is important to include in the post-election evaluation the compliance and non-compliance of Smartmatic-TIM with the contract so that they will know if they were able to meet all the delivery schedules. "Were they able to meet the timetables we agreed on? This will include the performance of the subsidiary contracts like ballot delivery, ballot box production, ballot box delivery among others," he said.

"You have to establish if there were delays. Was it (delays) caused by them? If yes, then they have to be accountable. If it is caused by us, then they are free," added Jimenez.

 

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Colly sits it out in England changes

2010-Jun-12, 11:38

PAUL COLLINGWOOD'S shoulder injury means England will this week begin a third successive campaign without the man who has led them to their previous success.

Andrew Strauss returns, as planned, to captain in a two-Test series against Bangladesh which begins at Lord's on Thursday.

In yesterday's announcement of the 12-man squad for the first Test, it was also confirmed Collingwood - and Stuart Broad - will be missing.

The upshot is that Strauss, himself replaced by Alastair Cook for England's two Test victories in Bangladesh two months ago, will lead a team without Collingwood.

National selector Geoff Miller is entirely confident, however, that there will be no ill-effects of the chopping and changing made necessary by the need to rest key players and the different formats in international cricket.

"We said last winter it was necessary for him to have a break," Miller said of Strauss.

"The atmosphere within the changing room is absolutely first- class, so there will be no problem in him moving back in."

Neither Cook nor Strauss was picked to travel to the West Indies over the past month as England won an ICC tournament trophy for the first time in their history.

The captaincy reins therefore change hands for a third consecutive time, Strauss back to take charge of a team minus mainstays Collingwood and Broad but containing surprise inclusion Eoin Morgan.

The 23-year-old Middlesex batsman replaces Collingwood - while his county colleague Steven Finn can also contemplate a first Test in this country on his home ground, thanks in part to Broad's absence.

Morgan will definitely make his Test debut if England pick their full complement of six batsmen. Should they instead go with an extra bowler, Yorkshire pair Tim Bresnan and Ajmal Shahzad - the latter on debut - will both be involved.

Of the two high-profile absentees, Miller added: "Paul Collingwood has a niggle in his shoulder, so we are carefully watching and looking after him.

"Stuart Broad is going to have some important strengthening work, and that gives us an opportunity to bring other players in."

ENGLAND: Strauss, Anderson, Bell, Bresnan, Cook, Finn, Morgan, Pietersen, Prior, Shahzad, Swann, Trott.

 

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CNH and KAMAZ Finalize Strategic Alliance in Russia

2010-Jun-12, 11:35

CNH Global NV and Russia's OJSC KAMAZ today announced that they have finalized their agreement for a commercial joint venture. This follows and completes the industrial partnership sealed last March, and forms a new alliance that has the resources, technology and distribution network required to support Russian customers more effectively with agricultural and construction machinery.

The commercial agreement was signed today in Moscow by Franco Fusignani, CNH International CEO, and Sergey Kogogin, General Director of OJSC KAMAZ.

The new company, CNH-KAMAZ Commercial BV, of which CNH will hold a 51 percent share and KAMAZ the remaining 49 percent, will distribute and service agricultural and construction equipment in the Russian Federation. CNH-KAMAZ Commercial will begin operations immediately.

A preliminary agreement on the partnership was signed last October 2009 by Sergio Marchionne, Chairman of CNH Global NV and Chief Executive Officer of Fiat S.p.A., and by Sergey Chemezov, General Director of Rostechnologii, in the presence of Vladimir Putin, Prime Minister of the Russian Federation. This was followed on March 22nd with the finalization of the related industrial joint venture to produce agricultural and construction equipment at the Naberezhnye Chelny plant, in the Republic of Tatarstan. Stretching over a total area of more than 50,000 square metres, the facility benefits from an initial investment of USD 70 Million to install an annual production capacity of 4,000 units, which will include tractors, combine harvesters and backhoe loaders.

Assembly of New Holland Agriculture new tractor models T8050, T9040, T9060, ranging from 325hp to 535hp, as well as the 272hp CSX7060 and 300hp CSX7080 combine harvesters has already started at the Naberezhnye Chelny factory.

Within the new commercial joint venture, CNH and KAMAZ have agreed to take advantage of their well established distribution networks in order to further strengthen their presence in the market.

CNH-KAMAZ Commercial, with its operations based in Moscow, will market and sell in the Russian market all New Holland locally produced and imported agricultural and construction equipment. CNH will provide the technology and know-how for commercial operations, including engineering support and counseling activities to ensure the venture meets CNH's global quality standards.

"This is a significant day not only for our companies but for the agricultural and construction equipment industry in Russia. The alliance with a partner as important as KAMAZ, a leading manufacturer in Russia, strengthens our strategy to establish a direct presence in a market that has enormous potential for growth," said Franco Fusignani, CNH International CEO. "The Russian market is a priority for us and this partnership brings us closer to our customers. This agreement gives us the opportunity to showcase our first-class technologies, broad product offering, innovative solutions and dedicated personnel, and to prove to Russian customers the value of our machinery. On this basis, we intend to expand the product portfolio of our CNH brands in Russia -- followed by other CIS countries -- with fuel-efficient, reliable and high-quality machinery, while improving the level of service, supporting a productive development of the agri-business and construction equipment sectors in the country."

"Our cooperation with CNH was supplemented with an important element: the new JV will promote the equipment produced in Naberezhnye Chelny, and provide customers with effective and comprehensive solutions. We are sure that our customers will appreciate services rendered by our JV at their true worth," said Sergey Kogogin, General Director of OJSC KAMAZ.

The alliance will allow the two firms to strengthen and synergize their resources in manufacturing and service to the benefit of the Russian agricultural and construction equipment sectors. In a first phase, the new venture will expand the New Holland branded product offerings that can count on a wide selection of low, medium and high-horsepower tractors, conventional and rotary combines, grape and forage harvesters, tillage and seeding complexes and a full spectrum of heavy construction and light industrial equipment for use in road building, quarrying, demolition, excavation, commercial building and maintenance operations.

Note to the Editor:

CNH (Case New Holland) CNH Global N.V. is a world leader in the agricultural and construction equipment businesses. Supported by more than 11,600 dealers in 170 countries, CNH brings together the knowledge and heritage of its Case and New Holland brand families with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. CNH Global N.V., whose stock is listed at the New York Stock Exchange (NYSE: CNH), is a majority-owned subsidiary of Fiat S.p.A. (MI: FIA). More information about CNH and its Case and New Holland products can be found online at .

CNH in Russia - CNH operations in Russia date back to 1907, the year in which the first Case tractor was shipped to the country. Since then, the company has continued to strengthen its presence, with the opening of the first Moscow-based offices in 1998, as well as the development of a widespread distribution network. At the beginning of 2009, CNH opened a new spare parts depot centre near Moscow. CNH has historically been, and continues to be a leader in the combine and large tractor segment in Russia; in recent years, it has also quickly penetrated other agricultural and construction equipment segments.

 

 








































































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