الجمعة، 5 أكتوبر، 2012

Foreign Exchange Market

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Definition of 'Foreign Exchange Market'

The market in which participants are able to buy, sell, exchange and speculate on currencies.  Foreign exchange markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The forex market is considered to be the largest financial market in the world.


Investopedia explains 'Foreign Exchange Market'

Because the currency markets are large and liquid, they are believed to be the most efficient financial markets. It is important to realize that the foreign exchange market is not a single exchange, but is constructed of a global network of computers that connects participants from all parts of the world.

Read more: http://www.investopedia.com/terms/forex/f/foreign-exchange-markets.asp#ixzz28TCZs7cf


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What is Forex?

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FOREX — the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.
In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time.
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.
Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair. The foreign exchange market operates 24 hours per day throughout the week between individuals with Forex brokers, brokers with banks, and banks with banks. If the European session is ended the Asian session or US session will start, so all world currencies can be continually in trade. Traders can react to news when it breaks, rather than waiting for the market to open, as is the case with most other markets.
Average daily international foreign exchange trading volume was $4.0 trillion in April 2010 according to the BIS triennial report.
Like any market there is a bid/offer spread (difference between buying price and selling price). On major currency crosses, the difference between the price at which a market maker will sell ("ask", or "offer") to a wholesale customer and the price at which the same market-maker will buy ("bid") from the same wholesale customer is minimal, usually only 1 or 2 pips. In the EUR/USD price of 1.4238 a pip would be the '8' at the end. So the bid/ask quote of EUR/USD might be 1.4238/1.4239.
This, of course, does not apply to retail customers. Most individual currency speculators will trade using a broker which will typically have a spread marked up to say 3-20 pips (so in our example 1.4237/1.4239 or 1.423/1.425). The broker will give their clients often huge amounts of margin, thereby facilitating clients spending more money on the bid/ask spread. The brokers are not regulated by the U.S. Securities and Exchange Commission (since they do not sell securities), so they are not bound by the same margin limits as stock brokerages. They do not typically charge margin interest, however since currency trades must be settled in 2 days, they will "resettle" open positions (again collecting the bid/ask spread).
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The EUR/USD year-end challenge; To bull or not to bull

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Is this the end of the tunnel? Rabobank's team asked in a recent report about the European thing. And after a month in which the ECB and Fed announced radical policy initiatives, this is the question the whole market has in mind. The Euro area continues to be a region where politicians need tons of pressure to get things done and certainly, the next quarter ought to show us some insights about the resolution of the Eurozone saga.
According to market experts and big banks, the 2012 final quarter will be dominated by four themes: the Eurozone drama, the US elections, the fiscal cliff and the growth across the advanced economies.
"Signs of global economic slowdown are visible in all major economies around the world and things will probably get worse before they get better," affirms Ilian Yotov from Allthingsforex.com. "With that said, one can argue that the U.S. economy is doing better than its euro-area counterpart."
Let's see. After ECB's president Mario Dragui put the ball on the politicians court again, all eyes turned back on Spain. On September 27 the Kingdom of Spain's government presented its draft budget for 2013 with a package of spending cuts and tax increases.

Eurozone: The Spanish thing

With public spending to be cut by 58% in 2013 and social spending representing 63.5% of budget, the government maintains that it will meet its budget targets: 6.3% deficit for 2012 and 4.5% for 2013. The black hole is that GDP is projected to decline 1.8% for this year and to contract 0.5% for next year. It seems that the Spanish government is going too optimistic taken the IMF and big banks worst GDP expectations and recent spending overruns.
"The Spanish government seems to be banking on the idea that it can pre-empt conditionality under a precautionary programme (Enhanced Conditions Credit Line)," Rabobank's analyst Elwin de Groot comments. "However, both the domestic and external (Germany) political situation is getting more complex by the day, suggesting that market pressure will still be needed to tip the balance in favour of a formal request." And as Adam Narczewski from XTB well said, "everybody is waiting for Madrid."
The problem with the Eurozone is that with an monetary union that has been built with a Central Bank with not real powers and unwilling to act as a true lender of last resort, and not fiscal and political union. The market is "constantly focused on the weakest link, rather than looking at the average strength across the region," as points Rabobank's team.
Spanish government repeats constantly that the Spain and the Eurozone fundamentals are sound but market doesn't really pay attention on this too much, because they don't have confidence on the euro area, even on the countries itself, institutions. The past October 2nd China Investment Corp Chairman Jin says that "it’s unrealistic to expect China to invest in bonds issued by heavily indebted European countries until fundamental problems are resolved." And it makes sense at all.
And the Spanish policy makers don't help the situation. News reporting Rajoy squandering money and Luis de Guindos providing dark answers to key questions are dampening consumer sentiment. As sample, when asked on Thursday why the taxpayers have made such a big adjustment vs the public sector? De Guindos just said "I prefer to look forward, not back".
The effect? Congress was surrounded past week by people claiming against budget cuts and the politicians squander money at the same time. And Artur Mas, Catalonia president, announced early elections in the region as soon as November 25. A date that will be marked with independence tone following the recent demonstrations early this month. Will be Catalonia a the new euro state? Mass medias across the world are expectant.
At least the bond auction held by the Spanish treasury, the country managed to sell 3.992 worth of 2014, 2015 and 2017 government bonds, at the top end of the targeted demand. 3- and 5-year yields fell in comparison with what the country had to pay at the previous auction.
With this approach, the recent Euro's gains seems to be short live as far as Spain doesn't request bailout as J.Foley, Senior Currency Strategist at Rabobank argues. “Investors will not wait indefinitely and it is very possible that it will take another surge in Spanish bond yields to provide Rajoy with the reason to finally request aid. As a consequence we continue to see scope for pullback in the EUR on a 1 mth view”.
"The European Central Bank’s OMT program provides a backstop to Europe but its activation is contingent upon the request of a nation," comments Kathy Lien from BK. "In other words, the program is obsolete until a country (ahem, Spain) asks for help."
And as the TD securities team remarks in a global research, "political optimism aside, slower growth and looser ECB t o provide fundamental pressure on EUR." In the Eurozone, "the worse off getting better while outperformers mean revert," adds TD.

Four more years for Obama? The fiscal cliff and real growth

Goldman Sachs expects US to grow 2.2% in 2012 and 1.9% in 2013. In the latest FOMC minutes, Fed officials expected the pace of economic growth would remain "moderate over coming quarters but would pick up over the 2013-2015 period." The GS analyst team sees the "unemployment rate to drift down to 8.0% by end-2013 as long-term unemployment continues to depress labour force participation."
In addition, the fiscal cliff is coming as the year is finishing. Expiring tax cuts, Bush tax cuts, payroll tax break, and the planned spending cuts will be undermining business confidence. But negotiations won't start before November 6 elections and probably it won't be addressed until the first months of 2013 . Businesses are more concerned than consumers on this, but as TD securities points, "sheer repetition of the phrase “fiscal cliff” may have dulled its meaning, but it is hard to overstate its significance to the evolution of the recovery in the US and globally."
TD Securities states that the recovery "remains sluggish," but "there are encouraging signs that the economic growth performance in H2 is improving." Said that, TD expects "the USD to be the beneficiary of increased risk aversion in the weeks ahead. Slower growth should weigh on the euro when political optimism fades." USD to outperform EUR.
"Now that we know that the Fed and the European Central Bank are willing to commit to open-ended quantitative easing, things will get back down to economic conditions on both sides of the Atlantic when trying to discover the appropriate levels for the EUR/USD exchange rate," comments Ilian Yotov. "And should the euro-zone register a double-dip recession in Q3, the EUR could emerge as the winner of the weakest currency contest."
Easy money is the world in this age. Marked have already priced Fed easing into USD and it leaves risk for reversal in the current bullish movement. "easy money but difficult returns will probably remain the norm into year-end" as states the JP Morgan team.
Global economy will face US political calendar and after the past October 4th debate, it seems to have an extra point of salt due Romney did exceedingly well and Obama seemed to be playing it safe.
Maybe it is not a "game changer" for Romney taken the recent President Obama's performance but it was new and fresh air for the Republican candidate after its controversial campaign. Polls show 56% of uncommitted voters say their opinion of Romney has changed for the better, while 13% say that about the President, according to Mark Knoller, CBS News White House Correspondent. According to results of CNN-ORC Post-Debate flash poll who won the debate, Romney 67%, Obama 25%.
"President Obama will be very difficult to beat given his consistent lead in the swing states," explains Andrew Busch from BMO Capital Markets. "Last night, Romney was given an opening. To win, the Romney campaign will need to go 3 for 3 in the remaining debates," Busch remarks.
There is three more debates before Tuesday November 6th elections:
  • October 11th Vice presidential debate: Centre College, Danville, KY
  • October 16th Second presidential debate (town meeting): Hofstra University, Hempstead, NY
  • October 22nd Third presidential debate: Lynn University, Boca Raton, FL
Chris Sullivan, chief investment officer at United Nations Federal Credit Union, comments that "the performance of Gov. Romney may be enough to further narrow the polls in certain closely-contested states and may also be supportive of risk markets forward from here."
In an hypothetical case, "Romney victory would be a short-term Risk-On event, US equity positive and US dollar negative. Medium term, a Romney victory is a big US dollar positive due to money flowing back to the country for investment and reduced risk of US debt/deficits," affirms Andrew Busch.
But President Obama is the solid leader in polls and his people base is wider than Romney. Recent September employment report shows a significant improvement in figures. A special gift for Barack Obama as Unemployment rate has fallen to the lowest level since he took office.

The employment report in US was overall positive on Friday. NFP rises 114K in September vs 113K consensus; There was a big revision in August data to 142K from 96K previously reported; Labor force improves; Unemployment down to its lowest level since January 2009.

BBH's Marc Chandler commented in recent employment numbers, "US jobs report was decidedly mixed. There was good and bad news but the bottom line is that the data is still too weak for the Fed to even consider ending its unconventional policy."

The euro extended its recent rally against the dollar toward a fresh 2-week high on Friday, after the U.S. unemployment rate fell to its lowest level in 3 years in September.

While the near-term outlook remains bullish, the pair could lack momentum to regain the 1.3100 mark just yet as indicators are reaching overbought levels in 1- and 4-hour charts. However, should EUR/USD break above 1.3100, the 1.3170 September double top will the next bullish target.

EUR/USD Year-end forecast

Euro finally left the 1.2900 number as the EUR/USD rose 0.86% on Tuesday to close the session at 1.3016 after reaching 2-week highs at 1.3030 thanks to improvement in risk appetite. The Euro has advanced 230 pips this week against the Dollar from October 1st low at 1.2800.
"This time around," comments the Saxo Bank team, "we have EUR already very strong with tail risk already virtually priced out and we have the QE3 launch in the rear view mirror as well, though we know that worse employment means more QE while good data theoretically encourages USD-funded carry trading."
Just as point in context, HSBC Global Research publish in a scheme on how QE could affect currencies across the world: 
  • US: QE = USD negative: Resultant “risk on” mood takes us to higher yielding more risky currencies. “Risk off” and the USD’s safe haven status kicks in.
  • Eurozone: QE = EUR positive: Non-conventional easing as lowering the probability of EUR default and disintegration, thereby boosting the EUR.
  • Japan: QE = mild JPY positive: JGB purchases have little JPY effect, but equity market boost encourages foreign capital inflows.
  • UK QE = GBP neutral: Little currency impact as un-conventional monetary easing seen as an appropriate mirror to the ongoing tightening in fiscal policy.
The RBS analyst team has raised its "year-end EUR/USD forecast to reflect the Fed's more aggressive monetary easing stance and the ECB's new policy to support periphery sovereign bond markets." The bank now see a risk that a Spanish request for a bailout should provide additional fuel to EUR/USD during the Q4, "most likely before the October 18/19 EU Leaders Summit" points RBS. RBS EUR/USD forecast is 1.3000 in 1-month view and 1.2500 in December 2012. "An anticipated expansion of the ECB balance sheet as sovereign debt purchases rise is seen highlighting the longer term risks of holding EURs," RBS added.
On the other hand, Ilian Yotov sees EUR/USD to fall into 1.2000 level. "When the euro-zone registers a double-dip recession in Q3 and the European Central Bank has no other choice but to ease policy further, including cutting rates, the EUR should emerge as the winner of the weakest currency contest and could head back towards recent lows around $1.20."
So, as summary, What the market expects for the United States, the Eurozone and its EUR/USD relationship? Players expect the dust to settle down on politics with Spain requesting bailout in October and the United States giving four more years to Barack Obama but no solutions to the so-called fiscal cliff.
The market will even wake up from the sirens sings and will pay attention to fundamental data. At this time, players will recognize "the recoveries in the U.S. and Japan are stalling, while the euro-area is about to confirm my forecast for a double-dip recession," as comments Ilian Yotov and confirms PMIs and weak GDPs across the world.
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foreign exchange trading

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Merkel to visit Greece next week; Rumors of imminent Spanish bailout denied



The trading week, dominated by contradictory reports concerning the Spanish bailout, ends with European markets in the green, after the sentiment was boosted on Thursday by ECB's announcement that its bond-buying program could be activated whenever needed. Following the release of the solid US NFP data for September EUR/USD broke above the 1.3030 level.

Samaras and Merkel to meet in Athens next Tuesday 

German Chancellor Angela Merkel will travel to Greece on October 9 to hold talks with PM Anotnis Samaras. This is the first time since the onset of the crisis that the German leader will visit Athens. Greek labor unions are planning a rally outside the parliament on Tuesday to demonstrate their opposition towards the visit

Earlier on Friday Samaras warned that Greece was running out of funds and that it was crucial for the country to receive the next tranche of the bailout money before the end of November, in order to prevent it from defaulting on its debts. On Saturday the Greek government will meet with Troika inspectors for the last time before the October 8 EcoFin meeting, in an attempt to reach an agreement on the remaining 2 billion euros of austerity measures.

"The troika is demanding above all further cuts to pensions and wages. That is very difficult, because we are already bleeding," Samaras said in an interview for the German daily Handelsblatt. "The existing cuts already go to the bone. We are at the limit of what we can expect of our population."

Eurogroup considers Spanish bailout unnecessary

A EU official told reporters on Friday that Spanish banks would not be recapitalized through the ESM this year and that the exact timing of the procedure was not known yet. He added that the Eurogroup also did not see the need for a complete Spanish bailout such as those granted to Greece, Ireland or Portugal.

The official said that the results of the latest Spanish debt auctions were satisfactory and that the situation on the financial markets improved considerably over the last six months. Eurozone finance ministers, who will hold a meeting on October 8, will discuss the situation in Spain, but they do not expect that Mariano Rajoy's government will ask for the activation of the ESM.

These declarations further contradict rumors of an imminent request for a Spanish bailout, which have been circulating in recent days. On Tuesday Mariano Rajoy said that such a request would not be made in the nearest future while on Thursday night Finance Minister Luis de Guindos denied that Spain needs a bailout at all.

Spanish FinMin denies that Spain needs a bailout


During a lecture at the London School of Economics Spanish Finance Minister Luis de Guindos told the audience that Spain does not need a bailout, despite the increasing rumors that the country might officially ask for aid as soon as this weekend. He said that what the country really needs is ECB's intervention on the secondary market of government bonds under certain conditions.

Referring to the harsh austerity measures, introduced recently by the Spanish government and triggering violent protests in Madrid Luis de Guindos assured that “what we are doing is what we think is the correct thing not only for Spain but for the future of the Eurozone."

During Luis de Guindos's speech a group of young Spaniards protested by displaying placards with the inscription “Spain for Sale.”
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الثلاثاء، 2 أكتوبر، 2012

Tel innovation helps to apply the secret spy camera and data theft

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U.S. military experts develop an application for a mobile phone camera can take pictures secret without arousing the attention of those around you is the application that may be exploited by a lot of hackers and spies eavesdropping on your home and break your privacy and security.
Center scientists have been able «Bliss Rider»'s of the Strategic Research Center and Marine »in« Crane »state« Indiana »American to reach the strategies and mechanisms by which that spies Ooualemttlfon able to penetrate buildings and installations.
The new application can also capture three-dimensional images of the internal spaces of the rooms, but identify the information and documents available within these facilities.
Scientists had the status of «Bliss Rider» have given a random sample of volunteers were given from mobile devices developed without informed of the existence of this application talk on their phones to use it normally.
The scientists explained that it has been possible to extract vital information from mobile phones that exist between developed hands of twenty volunteers at a time facilitated the Alsourthelathih Dimensions captured him extract information and data accurately, where this technique works through the rear of the phone by the technique of «modern Android.
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Google plans to buy a company specializing in the definition techniques faces

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Intends to "Google" buy "Viewdle", taken from "Silicon Valley" based, specializing in facial recognition technology and techniques actually.

Where is developing technology research team consisting of 36 staff subordinate to the company's branch in Ukraine, according to sources familiar with the this regard, note that the financial value of the deal is approximately U.S. $ 45 million.

It is expected to benefit Google techniques this company integrates them into mobile "Android" smart and social network "Google Plus" and also a pair of Google with augmented reality technology.
The company "Vewdle", which was founded in 2007, has been funded by several companies, including supermarket chain American to sell consumer electronics "Best Buy", and the "Research In Motion" Canadian Fund partners BlackBerry "Blackberry Partners Fund" and the company " Qualcomm "American.

This step may be an attempt by Google to protect itself from the issues of patent violations, in order to compete with "Facebook", which recently acquired the company "Weiss. Com - Face.com" emerging and specialized in facial recognition techniques.

Note that this is not the first time that acquires the "Google" to a specialized company in this regard, it has acquired in July last year on the company "PittPatt" specialized in technology face recognition, as bought "Neven Vision" German leader in systems visual recognition in 2006.


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Bangladeshi climb Mount Ajyad believing that light fell on it fit,

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Fawaz Al Abdali - already - Mecca: At Moatamer Bangladeshi died last night of his wounds dangerous down Mount Ajyad dam, while trying to up the mountain, where it was thought that the Mountain of Light, was received by his family the body after the completion of the police station Ajyad investigations and evidenced by the lack of suspicion criminalin death.

The processes for help had received this morning a tip from a number of passers-benefit Bosoarham the deceased person and dressed Ihram down Mount Ajyad dam, and immediately moved the security of the site was transferred the deceased to the morgue, started to police station Ajyad investigations into the incident and reveal them during that the body back to the pilgrims Bangladeshi citizenship interview access to Mecca coming from his country.

  And confirmed the police investigation that pilgrims climb the mountain in a late night last night, which he thinks is the Mountain of Light, but it is unbalanced as it continues to rise for the likes of the Earth has been hit with a number of rocks, the throes of his wounds and severe injuries that he sustained.

The body was handed over to his family this afternoon after police investigations and collect evidence official about the incident and they are free of any criminal suspicion.
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«Microsoft» reveal rewards system games on the platform «Xspocks Live»

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The company «Microsoft» U.S. software giant in the world, for its new private rewards and prizes games on the platform balances «Xspocks Live» e. The players will receive monthly discounts on purchases «Xspala», as well as free gifts according to their assets points of digital games. Will receive players who range from their balances between 3 thousand and 10 thousand points on the «special gift» The owners balances between 10 thousand and 25 thousand points will receive a free gift, in addition to the deduction of 1% per month on all transactions «Xspala» Finance, except «Microsoft points and membership subscriptions renewals platform «Xspocks Live. And all the members of the «Xspocks Live Gold to activate the reward system visit the awards section of the store« Markibliss ».
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Ibrahimovic: Messi does not deserve the Ballon d'Or

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Zlatan Ibrahimovic believes scorer team Paris Saint-Germain that Lionel Messi does not deserve the Ballon d'Or this year.
Ibrahimovic said in a statement to CNN that "Euro Sport": "Messi made ​​a great season in terms of personal, but he did not do anything for his team did not score any important tournament."
He added: "I have obtained in the past three years and it's time to get them to another player, and there are a number of players who deserve the Golden Ball this year more than Messi, and having received the award for the fourth time will cause frustration for the rest of the players and will be considered a matter of getting them is impossible."
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Arab airlines best performers after the Americas

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Showed the latest forecasts from the International Federation of Air Transport Association (IATA) that Arab airlines are the best performers in the world after the United States and Latin America.

According to a report issued by the "IATA", got "Arab. Net" a copy of which, it is expected to achieve Arab airlines profit rises 2.5% by $ 700 million in the year 2012, that the report is expected to continue to Arab companies to perform well in the next year 2013 and to be able to raise profits again by 2.7%.

The expectations "IATA" earlier had suggested that Arab airlines had recorded a profit by only $ 300 million.

According to data contained in the report, the Middle East is the best performer in the world after the United States, which occupies the first place expectations to achieve its rise in profits by 3%, followed by Latin America, which is expected to achieve airlines where a rise in profits by 2.7% at the end year 2012.

The report said that airlines in the Middle East could, in the first eight months of this year, expanding its ability to shipping by 13%, while the demand for its services by 14%.

According to the report, the demand for passenger transport services in the Arab region rose by 17.1% during the first eight months of this year, and this percentage is the highest in the world.

The report pointed out that the Arab airlines managed during the current year 2012 also increase its share in the market for flights of long-distance, where the Arab companies acquires only 4.8% of the number of passengers on long journeys, but that this percentage has increased in August / August 2012 to 11.5%.

The aviation sector is one of the important indicators of economic performance, both at the level of the world, or on the level of national economies, and the Arab airlines, and especially the Gulf, has an important centers in the national economies, and plays an important role in economic activity.
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Starting a forum 'Internet Governance' African Smart Village Wednesday

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IGF held African «AfIGF 2012» on 3 and 4 October, with the participation of more than 100 experts from all over the continent to discuss Africa's position on Internet governance, and informational exchange and transfer of expertise.
It is scheduled to hold the conference sponsored by the Egyptian Ministry of Communications and the African Union Commission, as will bring the forum that will be held at the Smart Village representatives from governments, companies and non-governmental organizations for two days of intensive discussions, about the situation in the management of the Internet in Africa, and develop some strategies in the telecommunications sector.
The first phase of this project and a two-month, post and delegations from the Nile Basin countries to attend training courses at the National Institute for Communications and Information Technology Institute, where they are training 50 to 60 program specialist, was selected and identified by the African countries themselves, and project targets train around 3 thousand specialist over the full year.
Recalled that in October 2011 the Egyptian government launched the largest project «Egypt - African human development and capacity and skills training, and raise the efficiency of African cadres specialized in the field of communications and information technology.
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5 million a Dubai hotels in the first half, up 10 percent

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The number of hotel guests in Dubai during the first half of the current year barrier 5 million inmates, an increase of 10%, compared to the same period last year, with improved revenue sector and guest nights, according to Khalid Ahmed bin Sulayem Director General of the Department of Tourism and Commerce Marketing, according to the newspaper " Union, "the UAE.

Bin Sulayem said in a press statement yesterday in Dubai, said that the number of tourist nights in Dubai during the first half grew by 18% to $ 19.2 million for the night, compared to 16.2 million nights during the same period last year, while hotel revenues recorded more than AED 9.8 billion, in the period from January to June, compared with 8.5 billion dirhams in the first half of 2011, a growth of 22%

And opened Khalid Ahmed bin Sulayem events eighth annual conference of the Group of Natalie Tours Russian Hotels Atlantis The Palm Dubai, which will be held in cooperation with Alpha Tours and lasts 5 days, the presence of Natasha Vorobyeva CEO General Manager Natalie Tours, Ghassan Aridi, CEO of Alpha Tours, and Brett Armitage Deputy President of Sales Atlantis The Palm Hotel.

The conference discussed the participation of representatives of 250 tourism companies from all over Russia, and a number of department managers and tourism events in Dubai, take advantage of the tourist attractions in Dubai, and new projects and update their information to support their mission in the commercialization of Russian tourists.

Bin Sulayem praised the tourism relations between Dubai and Russia, pointing out that Russia is one of the most important tourist markets for Dubai.

He added that the Department of Tourism organizes and participates in many events such as exhibitions and workshops, most recently a few days ago Moscow Tourism Fair Autumn "Leisure 2012", won the three awards. He explained that the department statistics showed that the number of hotel guests during the first half of this year amounted to more than 3.98 million a 10% increase, while the total number of guests apartments 1.044 million, a growth of 9%.
The average residence hotel establishments in Dubai hotels and hotel apartments, during the first half of 3.8 nights, compared to 3.5 for the night during the same period last year, an increase of 8%.

The revenue for hotels in Dubai during the first half of this year from 8.38 billion dirhams, an increase of 21%, while revenues amounted to apartments AED 2.4 billion, an increase of 23%.

According to Khalid Bin Sulayem that the average Dubai accommodation during the first half of this year was 3.4 nights versus 3.2 nights during the same period of last year, an increase of 5%, and the average residence hotel apartments in Dubai during the first half of this year 5 6 night versus 4.9 nights during the same period last year, an increase of 13%.

The number of hotel rooms and apartments in Dubai during the first half of 76 thousand rooms and serviced apartments versus 73.2 thousand rooms and serviced apartments in the same period of last year, an increase of 4%.

The Department of Tourism pointed out that the number of rooms accommodation Dubai rose by the end of the first half to more than 54.2 thousand rooms compared to about 52.8 thousand rooms by the end of the first half of 2011, an increase of 3%, while the total number of apartments in Dubai at the end of last June, more than 21.7 thousand apartments compared with 20.3 thousand apartments by the end of June 2011, an increase of 7%.

It showed statistical figures that the average occupancy of hotel rooms in Dubai during the first half of this year achieved a 82% compared to 76% during the same period of last year, up 6%, while the average occupancy apartments during the first half of this year 79% compared to 76% during the the same period of last year, an increase of 3%.

The average room rate hotel in Dubai during the first half of this year 601 dirhams versus 570 dirhams during the same period of last year, up 5%, and the average price of the apartment hotel in Dubai during the first half of this year 417 dirhams for 374 dirhams during the same period last year, an increase of 11%.
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App Store Yandex Russian rival Google Play

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Russian search giant divorced "Yandex-Yandex", the new store applications on the Internet, which carries the name "Yandex.Store" which includes 40 thousand a custom application for mobile devices from smart phones and tablet computers.

The store services "Yandex" other, such as e-mail service and mapping service and user interface with three-dimensional effects for mobile devices based on the operating system "Android", known as "Yandex.Shell".

The company "Yandex" new competitor to store my shop applications "Amazon" and "Google Play", although the latter includes nearly 675,000 application, as well as the arrival of a number of downloads it to 25 billion download process.
New Browser
In a related context, launched "Yandex" a new Internet browser combines the effectiveness of the browser "Chrome" browser technology and efficiency "Oprah."

And supports browser Russian engine design "Web Kit-WebKit", document the months browsers such as "Google Chrome" and "Apple's Safari", beside Astnadeh to technology "Opera Turbo-Opera Turbo" based on pressure contents web pages to speed up the process matching.

And features security standards for the protection of information and data, as it includes programs to protect my company, "Kaspersky Lab" and "Yandex".

This browser provides integrated Russian research services, including simultaneous translation service and digital maps service.

According to Arkady Vuluzh, CEO of "Yandex", the "company has developed a Web browser-based computing environment cloud, Integrated with the best services and products, to become a web browser open source, and gives developers and programmers a fertile environment for creating applications and programs of their own."
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«Google» runner for Apple after the financial value exceeded for «Microsoft»

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Exceeded the company «Google» counterpart Microsoft, in terms of financial value for the first time in the history of the two companies, thus becoming «Google» is the second largest company specialized information technology in the world after Apple in terms of financial value.
The shares fell «Microsoft» by Al-Jazeera. Botnet by 0.8%, while shares rose «Google» almost the same percentage, which helped to overcome the Microsoft for the first time.
Has been associated with rising shares «Google» positive reports about the high profits in the online advertising market and the increasing growth in the number of smart phones that do daily Android, prompting analysts to predict that the 'Google' in its best towards more long-term growth.
On the contrary, it began by «Microsoft» retreat after concerns the PC market decline and uncertainty about its new operating system Windows 8, which the company intends to launch officially later this month
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