Forex News

New Zealand Interest Rate Reaches Record Low at 2.5%


The Reserve Bank of New Zealand cut its benchmark interest rate from 3.0 percent to 2.5 percent to a record low level for the country’s economy.

New Zealand was one of the most punished countries by the global slump due to its commodity exporter economic profile and since July, the central bank has continuously cut the national interest rate from 5.75 percent to the current level of 2.50 percent and lowered taxes in order to ease the damages caused by recession. The New Zealand dollar and bonds have been certainly affected by lowered interest rates, since it obviously becomes less attractive for traders to keep investments in assets that have constant profit decreases.

The economists’ opinion indicate that the past and present Reserve Bank policy is leaving space for further cuts in the cash rate and that a reversal in this trend is not expected in the foreseeable future. New Zealand is facing its sixth quarter of recession, which immersed the country in the worst crisis for a period of more than 30 years, but even if the interest rates are constantly hitting record lows, they are still more attractive than other major economies’ rates, such as the Eurozone which is at 1.25 percent and the Japanese which is close to zero.

The NZD/USD remained stable while the NZD/JPY traded at 55.59 from 54.95.

If you want to comment on the New Zealand dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

Forex News

Chilean Peso Strengthens on Central Bank Policy Bets


The Chilean currency continues its six-month bullish trend as copper price goes up and the national bank is expected to cut interest rates to improve the economy.

In the second semester of the past year, the Chilean currency had a severe devaluation when the global slump scenario was confirmed, but since December, and despite the current problematic economic situation in the country, the peso has been constantly gaining value against some of the most important currencies, such as the greenback and the pound. Chile has lowered its interest rate more than 5 percent since the beginning of the crisis, and it is expected to continue its rate-cut policy as an effort to revive the national economy, which for the moment, has a rising unemployment rate and a contracting industrial sector.

The interest rate policy in Chile will remain the same and according to analysts, as long as the national economy reports weak data, the rates will be cut systematically. In the next meeting, which will take place in the following week, policy makers are expected to set a 1.5 percent rate, a cut of 0.25 percent from the current one. The price of copper is another factor that has an important role for the Chilean currency, a significant rise on its price during the past months is helping the peso to climb, since Chile is a major exporter of this commodity.

The USD/CLP traded at 581.05 from a previous price of 585.05.

If you want to comment on the Chilean peso’s recent action or have any questions regarding this currency, please, feel free to reply below.

Forex News

Canadian Dollar Continues Rise on Positive Economic Forecasts


The loonie posted gains for 5 weeks in a row, on speculations that the global financial turmoil is easing, pushing commodity prices up.

Canada’s currency has been a fantastic investment since the beginning of March, against its U.S. counterpart, having the biggest rally since November 2007 gaining more than 2 percent during the past week. This month has been an optimistic one if compared with the previous ones marked by extremely downturns in trading markets, and the Canadian dollar, being a high-yielding currency driven by risk appetite and commodity prices, had the opportunity to post solid gains after several months of significant losses.

Being one of the most correlated currencies with the equity markets, analysts expect that as long as stocks continue to recover from last year’s losses, the Canadian dollar is expected to strengthen, also pushed by commodity prices. Even if the current moment is extremely positive for the loonie, uncertainty still remains among economists, which avoid to confirm that the Canadian dollar is a good bet for the long term, claiming that days of growing risk appetite may move or not the global markets for the next weeks.

The USD/CAD closed this week at 1.1856 from 1.1930 in the intraday comparison. The CAD/JPY rose from 82.50 to 83.56.

If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

Core Investors Buy into Wema Bank

Core Investors Buy into Wema Bank

April 22nd, 2009

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The Securities and Exchange Commission (SEC) announced on its website that it had granted approval to the divestment of 2,700,000,000 ordinary shares of Wema Bank Plc to a core investor, SW8 Investment Ltd on April 1, 2009. According to SEC, the shares being divested represent 26.50% of the current issued and fully paid share capital of the bank. An agreement was earlier reached in August 2008 between the Commission, Central Bank of Nigeria, NDIC, Wema Bank and Odua Group that the Board and Management of Wema Bank shall, under the supervision of SEC, dispose of the warehoused shares of Wema Bank about (2.7 billion shares) in a transparent manner in order to improve the bank’s liquidity position and correct the irregularities in earlier sale of the shares.

Wema Bank Plc was incorporated in May 1945 as a private limited liability company and commenced business operations as a commercial bank in the same year. The Bank was converted to a public limited liability company in April 1987 and was subsequently listed on the floor of the Nigerian Stock Exchange in January 1990. On February 5, 2001, the Central Bank of Nigeria granted a Universal Banking Licence to the Bank, thus allowing the Bank to undertake a wide range of financial services to its numerous customers across the country. The Bank has witnessed tremendous growth and development in branch network, quality of service delivery and overall financial performance in the last two decades.

Meridian Technologies Ltd

• Apr 9,2009 by Careers Nigeria

Meridian Technologies Ltd. is a mega IT Training, Certification, Testing, Networking and Security Solutions Company based in Lagos.

It represents Aptech Computer Education in Lagos and is an authorized Oracle University partner, a Cisco Networking Academy, Microsoft partner, CompTIA member and has authorized Prometric and Vue Testing Centres. Meridian Technologies also offers Networking and Security Solutions product ENPAQ.

Meridian Technologies has set up a state of the art Training/Certification/Testing Centre and its Networking/Security Solutions Sales office in Victoria Island, Lagos. The Company requires to fill the following position: CENTRE MANAGER – Ref : CM-01

Candidates should be around 35 years of age and possess B.Sc/M.Sc in Computer Science/Computer Engineering with NYSC discharged certificate. A possession of MBA will be an added advantage. An excellent understanding of the various IT technologies is a key requirement.

Candidates should have 5-10 years of experience in the IT training industry in the Lagos market, three of which must be at the management level. Such candidates must be able to work under pressure and deliver on set performance targets.

Key responsibilities will include the following :

• Developing marketing and sales plans for various courses and target segments – separately for retail and corporate customers
• Developing an annual budget for student enrolments, corporate accounts, revenue, expenses and profit
• Achieving the monthly budgets for all set objectives
• Exploring the target markets with a view to identifying and pursuing opportunities relating to IT training and certifications.
• Territory planning and assignment
• Manpower planning, staff training, setting objectives for team members and leading the team to deliver as per set budgets.
• Effective planning and management of course schedules and delivery.
• Ensuring the attainment of quality standards and 100% customer satisfaction at all times.
• Developing business plans and managing the process for gathering market data and information.
• Actively participating in and galvanizing thought leadership activities especially as related to the centre’s business.
• Maintaining up to date industry knowledge with a view to maintain a strategic edge of the centre.
• Continuously generating new business ideas and assessing their viability.
• Initiating concepts to promote market awareness and generate sales.
• Submitting performance reports to the Management for review.
• Overseeing the finance, budget, HR and general administration of the centre.
• Optimum utilization of resources and costs optimisation

Candidates must be self-motivated, dynamic, technically oriented, possess excellent communication and presentation skills and be willing to work flexibly.

The position offers a challenge of working with international IT brands and offers a competitive salary package, car, performance bonus, continuous training and an exciting long term career.

As the position is based at LAGOS, only candidates residing in Lagos should apply.

Candidates who meet the above requirements and wish to develop a long-term career need only apply.

Interested candidates should apply with their CV, a passport photograph and current salary with the code CM-01 in the subject line of your e-mail to career@meridian-nigeria.com

Liverpool boss Benitez: Torres injuries may've decided title

13.04.09 | tribalfootball.com

Liverpool boss Rafa Benitez admits Fernando Torres' fitness this season could have decided their Premier League title chase.

Benitez said: “We have had some games this season that ended in draws which, had Fernando been playing, could have made a massive difference.

“With him and Gerrard on the pitch you know the team is much, much better.”

Defender Jamie Carragher added: “Fernando is one of the greatest strikers in the world, he scored two fantastic goals against Blackburn and it has been really good to have him back in the side and fit.

“It is frustrating thinking what we could have done this season if he had been fit all the time.”

Welcome to the Nigerian Navy Recruitment and Enlistment portal

Welcome to the Nigerian Navy Recruitment and Enlistment portal.
http://service.nigeriannavy.gov.ng or (http://www.service.nigeriannavy.gov.ng)
2. Read the instructions very well before completing your application form. To
download a copy of the requirements now, click
http://www.service.nigeriannavy.gov.ng/NNBTSInstructions.htm

3. The registration forms have been designed to let you save your details as many times
as you wish before final submission.

4. Insert your PIN code in the space provided at the end of application form and click the

SUBMIT button thereafter print the following:)
· Parent/Guardian Consent Form
· Service Personnel Referee Form
· Local Government Attestation Form
Please complete the forms and bring them to the recruitment centre of your choice.