New tax on cigarettes in NYC June 5, 2008
Posted by mylastresort in analysis.Tags: Cigarettes, Comparison, KD, Tax, USD
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The state of New York has again raised taxes on cigarettes by $1.25 (or 333 fils). Including previous taxes of around the same amount smokers are currently paying somewhere between $8 (or KD 2.130) and $12 (or KD 3.195) for a pack of cigarettes in NYC.
- Ice skating in Central Park: $4.25/hr (or KD 1.130/hr)
- Yankees game (cheap seats): $5/hr (or KD 1.330/hr)
- Smoking: $6/hr (or KD 1.600/hr)
- Visit to MoMA: $8/hr (or KD 2.130/hr)
- After-work drinks: $10/hr (or KD 2.130/hr)
- Movie w/popcorn & soda: $11/hr (or KD 2.925/hr)
- Dinner @ McDonald’s: $11/hr (or KD 2.925/hr)
- Dinner @ Daniel: $85/hr (or KD 22.610/hr)
- Helicopter tour of NYC: $600/hr (or KD 159.600/hr)
- Spitzer-grade call girl: $1000+/hr (or KD 266/hr)
For reference, NY State minimum wage is $7.15/hr (or KD 1.905/hr).
Kuwaiti Dinar at record strength against US Dollar May 25, 2008
Posted by mylastresort in analysis.Tags: Central Bank of Kuwait, Currencies, currency, forex, kuwait, Kuwaiti Dinar, KWD, Record, US Dollar, USD
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The Kuwaiti Dinar (KWD) has reached record strength against the US Dollar (USD) reaching .26490 fils per US $1.00 on Sunday.
Euro and KD future outlook April 17, 2008
Posted by mylastresort in analysis.Tags: EURO, Expectation, Future, Record High, USD
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- 1 Euro = $1.5950
- 1 Euro = .425 fils
The Euro has broken new records and seems to be getting stronger. The new record high of 1.5870 is expected to be broken today and a new era of $1.60+ Euro is approaching. Towards the end of the month prices are expected to remain constant and similar to those levels. Future outlook for the Euro in the following months shows a weaker Euro and stronger dollar leading to a more manageable $1.5375 levels or even lower levels of $1.4850.
“The dollar continues to be weak, while investors chase currencies whose yields are not seen falling… As there is no sign that the ECB will cut interest rates soon, the market’s focal point is when the euro will rise to the key $1.60 level”
- Tsutomu Soma, Okasan Securities
Fixing the Kuwaiti Dinar to the Dollar, again… April 8, 2008
Posted by mylastresort in analysis, saudi arabia.Tags: Again, Dinar, Dollar, Fix, gcc, kuwait, KWD, Peg, Single currency, Unified Currency, Union, USD
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In order to remain on track for the single Gulf currency, Kuwait, which revalued its currency in May 2007, must fix its currency back to the Dollar, to be inline with the rest of the Gulf countries. The formation of the single currency, (rumored to be called the ‘Dinar’), cannot be created without the valuable Kuwaiti economy. Kuwait, is considered to have the most advanced, and stable, economy in the Gulf. Since all the countries are fixed to the Dollar, once Kuwait decides to re-enter it will be forced to peg again, which will not be to beneficial to the local economy.
Kuwaiti Dinar rises to strongest point March 27, 2008
Posted by mylastresort in analysis.Tags: CBK, Central Bank of Kuwait, Dinar, kuwait, Kuwaiti, KWD, Record, Revaluation, Rise, US Dollar, USD
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Kuwaiti Dinar rises to to its strongest point since dropping the peg.
- Todays mid point .26530 (3.7693)
- Change (from previous day) 0.41%
- Change since May 19, 2007 8.99%
The recent rise in the Kuwaiti Dinar is due to the dollars decline overnight to reach near record lows against the majors.
Crude oil price comparisons March 25, 2008
Posted by mylastresort in analysis, random.Tags: Alcohol, Average, Barrel, Ben & Jerry's Chunky Ice Cream, Budweiser Beer, Buy, Chanel No.5, Coca Cola, Comparisson, Crude Oil, Gulf, Jack Daniels, Latte, Milk, Old No. 7, per Barrel, Perfume, Perrier Natural Mineral Water, Petroleum, Price, Prices, Snapple, Starbucks, Tropicana Orange Juice, US Dollar, USD, Venti, Whiskey
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I find this comparison very interesting:
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These are prices based on a global standard. Prices for goods in the Gulf might differ (eg. Alcohol, black market prices easily reach $350). All prices are in US Dollars.
Fed actions in chronological order (Article) March 18, 2008
Posted by mylastresort in analysis.Tags: Bank of Canada, Bank of England, Central Bank Actions, Credit Crunch, Crisis, Cuts, Discount Rate, economy, Emergency, European Central Bank, FED, Federal Reserve, Federal Reserve Actions, Feds actions, Financial Markets, Great Depression, Housing, Intervention, JPMorgan Chase, Rate cut, Swiss National Bank, Target, United States, US, USD
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Everyone is talking about the Feds actions in the market and I just found this article very interesting. It depicts the US Federal Reserves actions in chronological order.
(Reuters) – The Federal Reserve on Sunday lowered the discount rate it charges on direct loans to banks and announced a new lending program to provide credit to other big Wall Street firms, the latest in a series of moves to try to stabilize financial markets.
The Fed cut the discount rate to 3.25 percent from 3.5 percent, effective immediately, and said it would increase the maximum maturity of discount rate loans to 90 days from 30 days.
US Dollar crashes midday March 17, 2008
Posted by mylastresort in analysis, bahrain, qatar, rumors.Tags: bahrain, Bombay, Central Bank, Charts, Commerzbank, Corporates & Markets, Credit Crunch, Crisis, Dollar, Dubai, EUR, EURO, FX, inflation, Intervention, Japan, kuwait, Mumbai, Muscat, Nikkie, oman, Record, Sensex, Stock Exchange, uae, United Arab Emirates, US, USD
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The sudden collapse of the US Dollar midday today is sparking new speculations on whether the recent rapid movements in the FX markets will prompt central banks to intervene. In recent news the collapse of the Dollar today and the fear of a global economical collapse prompted world stock markets to decline even further.
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Muscat SM -1.24%
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Kuwait SE -1.08%
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Abu Dhabi SM -1.72%
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Dubai FM -1.65%
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Vietnam Index -4.36%
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Sensex (Bombay SE) -6.03%
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Nikkei 225 -3.71%
Commerz Bank belives that for central bank intervention to become a real threat the Dollar’s Index would need to fall by another 4% within the next 2-3 weeks. Further, the Euro should rise to $1.62
“This is unlikely to happen, however, as we would expect tsignificant bouts of verbal intervention before, preventing a rise to such levels”
- Commerzbank Corporates & Markets
Kuwaiti Dinar at record high March 17, 2008
Posted by mylastresort in analysis, bahrain, qatar, saudi arabia.Tags: bahrain, Banks, BHD, Central Bank, Crisis, Depegging, Dinar, Dinar Peg, Dirham, economy, inflation, kuwait, KWD, oman, QAR, qatar, Record, Revaluation, Riyal, SAR, saudi arabia, Trading, United Arab Emirates, USD
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The Kuwaiti Dinar is at a record high against the Dollar. Kuwait let its Dinar sharply rise for the third trading session to a record high of .26600 fils (or $3.7594). The US Dollar plunged accross the board Monday on concerns that the financial crisis in the US will continue to deepen.
The Kuwaiti Dinar has gained 2% since Wednesday
The cumulative gain on the currency is now at 8.70% (expected to hit 15%). The forces on Gulf Arab states to revalue their currencies and drop their Dollar pegs is even more higher. The pressure on Saudi Arabia, United Arab Emirates, Qatar & Bahrain is even greater as the US Dollar reaches record lows and their own economies surging on record level oil prices fuelling sharp inflation.
