Showing posts with label Pacific. Show all posts
Showing posts with label Pacific. Show all posts

Tuesday, June 30, 2009

PIF secretary general: Global financial crisis "could affect Pacific stability"

SUVA, June 5 (Xinhua) -- The economic impacts of the global economy on the
Pacific may also be a driver for insecurity, and in some cases a catalyst for
criminality, posing a threat to the stability and security of the Pacific
region.


Secretary General of the Pacific Islands Forum, Tuiloma Neroni Slade, made
the warning Thursday at the opening of the annual Forum Regional Security
Committee meeting at the Forum Secretariat in Suva.

Slade said the region has become a target of new organized crime group
entities attempting to exploit vulnerabilities in banking and financial sectors
and also the illicit movement of drugs, weapons and people.

He added that the Pacific region continues to face complex law enforcement
challenges and support to agencies responsible for law enforcement remains a
high priority for all the countries in the region.

"It is clear from the variety of investigations undertaken in the last year
that the region continues to be targeted by individuals and groups attempting to
undertake a range of transnational criminal activity. These include the illicit
movement of drugs, weapons and people. We are even beginning to witness
incidences of new organized crime groups entities attempting to exploit
vulnerabilities in our banking and financial sectors," the Fijilive website
quoted Slade as saying.

The Forum members heard that the area of border security will be tested
with the lack of response to commercial fraud.

The region has been urged to make a move toward traditional law enforcement
and compliance priorities.

"No one country can feasibly manage alone in today's world, where the
problems of one neighbor invariably affect the next. Peace and security in our
region are inextricably linked to peace and stability in our respective member
countries; and much depends on the mutuality of needed cooperation on issues of
common concerns."

The two-day FRSC meeting was attended by representatives of Forum member
countries as well as regional law enforcement and security stakeholders.

Fiji was not invited to the meeting after being suspended from the Forum
last month for failing to meet the island body's demand to issue a 2009 general
election date by May 1.

Special Report:
Global Financial
Crisis


Tuesday, April 28, 2009

Pacific Securities rakes in $16.4 mln net profit in 1Q

Special Report:Global Financial Crisis


BEIJING, April 12 (Xinhua) -- Pacific Securities announced Saturday that its net profit in the first quarter topped 112 million yuan (16.4 million U.S. dollars) due to the first-quarter upbeat stock market performance.


China's benchmark Shanghai Composite Index has gained more than 32 percent from the beginning of this year.

This was the first quarterly report from the nine listed brokerage firms and analysts predicted that the performance of securities firms was recovering.

Zhang Yunpeng, an analyst with Beijing-based Huarong Securities, told Xinhua on Sunday that brokerage companies benefited from the turnover increase and index rise in recent months as more economic recovery signs emerged, adding that this sector was still bullish in the long run.

The total turnover of the Chinese stock markets reached 9.44 trillion yuan from January to March this year, only 3.5 percent lower from a year ago.

The southern Yunnan-based Pacific Securities lost 645 million yuan last year, compared to a profit of 749 million yuan in 2007 when the domestic stock market was bullish.


China Pacific Insurance net profit down 81% in 2008

Special Report:Global Financial Crisis


BEIJING, April 12 (Xinhua) -- China Pacific Insurance, one of the country's
largest insurers, announced Saturday that its net profit dropped 80.6 percent to
1.339 billion yuan (196 million U.S. dollars) in 2008.

The Shanghai-based insurer attributed the profit decrease to the sluggish
stock market performance and the large amount of insurance indemnity after
several natural disasters last year.

However, the premium income of the company rose 26.6 percent to94.02
billion yuan, said the firm in its 2008 annual report.

Its life insurance premium income increased 30.4 percent to 66.09 billion
yuan last year, ranking the third in the domestic market. Its property insurance
premium rose 18.7 percent to 27.88 billion yuan, *** it the second largest
among its peers.