Monday, January 24, 2011
A New World Order in the Making
The world leaders meet at theG20 Summit in London with the motto of Stability Growth and Jobs has ended marking a turning point in the world history. Overall, there have been mixed responses regarding the success of the Summit.The distinction between the developed and the developing countries seemed to fade away as there was marked difference in the particularity of America. China Brazil and India drew as much attention.While the G20 meet did end in global settlement to boost the world growth there have been some misses. Here are some of the highlights from the Summit.
Hits
- US president Barack Obama called the Meeting Historic in its pursuit to recover from the financial quagmire.
- IMF's managing director was happy after the summit and especially enthusiastic about IMF issuing $250bn worth of its own currency, the SDR. Top jobs in the IMF will be open to people from all parts of the world which until now had only Europeans on them.
- Countries like China and India have been given bigger say in the working of this international institution.
- Leaders called the summit a "real progress" in efforts to enforce tighter regulation of the financial system.
- G20 meet succeeded in inciting cooperation on crackdown on tax havens as also greater support for the poorest countries.
Misses
- The Summit's biggest failure is being seen in its inability to settle on a global plan for recovery from the crisis.
- There have been no major deals on plans of co-ordinated global stimulus packages.
- A representative from the World Development Movement said one of the biggest misses of the summit is that leaders failed to get a consensus on a global green new deal that puts the interests of poor people and the environment as an important part of the international trade and finance.
On the whole the summit is being as mixed bag of goodies. The summit is being widely considered to have taken only insufficient measures to meet the challenges facing the global economy even while a clearer financial structure is expected to emerge out of the chaos.
It remains to seen when and how the pledges at the Summit get transformed into real worth.
The G20 Summit is best being regarded as embarking of the journey of a new beginning.
UK's Budget Deficit to be Worse Than Predicted
The budget deficit is at least 2.7% more than what was being expected in the pre budget announcements by the Chancellor Alistair Darling.Darling (seen in picture) who will be presenting the budget later in the month said the recession in UK has been more severe than expected.In Fx Trading, the pound has tumbled amid these persistent economic problems here.
The £39bn (approx 58bn US dollars) deficit could be financed by either raising the tax limits or by putting a five-year real freeze in total public spending.The Institute for Fiscal Studies (IFS) estimates that taxes in Britain will have to rise by at least £20bn a year to cover record borrowing.
Noticeably, at the last week Summit of the leaders of the world's largest economies, a deal worth $1.1 trillion (£681bn) was reached at to tackle the global financial crisis.
The British Prime Minister Gordon Brown will be meeting the chancellor and the Bank of England governor to discuss about measures agreed at the concluded G20 summit.The prime Minister here is hopeful the consensus reached at the meeting will help build the dwindling confidence in the banks, and will make a difference to the lives and to the aspirations of families and businesses in the UK.
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U.S. Budgt Deficit Worth 1 Trillion
The U.S. recorded a gigantic budget deficit of nearly $1 trillion in the first six months of this fiscal year which began on October 1.
The estimates released on Monday by the Congressional Budget Office said the government likely recorded $953 billion in red ink from October through March.
WHY DEFICITS MATTER
The estimates released on Monday by the Congressional Budget Office said the government likely recorded $953 billion in red ink from October through March.
WHY DEFICITS MATTER
- Increased debt costs for government
- Increased risk of inflation
- Long-term pressure on dollar
- Could lead to higher taxes and spending cuts later
The CBO, the nonpartisan budget analyst for Congress, said the drop in corporate receipts was the largest in more than three decades.
In addition to dropping revenue and the bailout money for Wall Street, the government has poured more money out the door to try to jump-start the ailing economy, which has been in recession since December 2007.
An arm of the U.S. Treasury Department also loaned $10 billion to credit unions to help them address recent liquidity pressures, the CBO said.
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UK Sees Steep Rise in Unemployment
UK is reeling under growing massive unemployment. The job loss rate in UK has more than doubled in the past years. On an average, each job is being chased by at least 10 jobseekers. In Fx Tradingpound rose for a fourth day against the dollar today. According to the trade union body there a year earlier it was only 4 people seeking a job. At other council areas there are at least 20 people per job vacancy. In other figures, between January and March this year, there have been two million unemployed people in the UK.Job loss rate has already climbed to 8.1% in the U.S.
The decrease in job vacancies has been equally shocking.”The government can no longer claim there is plenty of work available when there are as many as 20 dole claimants per job centre vacancy in parts of the country" said the Trade Union General Secretary.
According to The British Chambers of Commerce (BCC), over the second half of the next year, more than 10% of the total workforce in Britain can be without a job.
UK is witnessing the first recession since 1991.
UK economic output fell by 1.5% in the last three months of 2008, after a drop of 0.6% between July and September. This met the widely accepted definition of a recession - two consecutive quarters of negative economic growth.
G24- Developing Countries harder hit by Global Recession
Group of 24 nations said on Friday the global financial and economic crisis is hurting to developing countries, which will have to deal with the fallout long after advanced economies.
The G24, made up of developing countries from Latin America, Asia and Africa said quick turn down in increasing and falling currency reserves were leading to growing unemployment and poverty levels.
The risks of a more protracted worsening in the world economy remain significant a G24 communique said after a meeting on the sideline of the spring meeting of the World Bank and International Monetary Fund.
The communique noted the crisis had originated in advanced economies and was affecting developing economies through sharp falls in remittance, exports, private capital flows and a global credit crisis.
The group said that developing countries will require unprecedented and urgent support from global financial institutions like the World Bank and IMF.
The G24 also supported an early review of the role of the IMF in the international monetary system, including the role of major currencies like the Euro, Yen, Dollar and British Pound.
OPEC Meet to keep Oil Price Stable
According to the OPEC meet on 28th May in Vienna, OPEC decided to keep production quotas unchanged in order to help the global economy. The group has completed 77 percent of its cuts, down from a revised 82 percent for March.
Oil and Natural gas are important source of energy. Due to increase in oil prices day by day had effected the badly effected Global economy. The Global economy needs its source of cheap energy in order to start growing once again, and more importantly, it needs consumers to spend their money on goods and services. OPEC's decision to stick to its targets had been widely expected.
Saudi Oil Minister Ali al-Naimi said. It’s the second time this year the 12-member group has met without revising that total. The Organization Of Petroleum Exporting also agreed to maintain the quota. Naimi said OPEC would hold its next ordinary meeting on September 9.
Rio Tinto Group the iron ore exporter, agreed to a 33% drop in contract prices with Japan’s Nippon Steel Corp.
Rio Tinto Group, the world’s 2nd largest iron ore exporter, agreed to a 33% fall in agreement prices with Japan’s Nippon Steel Corp., the first downfall in 7 years as the worldwide recession cuts demand.
London- based Rio said today in a statement Nippon Steel, the world’s 2nd largest steelmaker, contracted to pay Rio Tinto Group 97 cents a dry metric ton unit, or about $61 a ton, for its standard product in the year started April 1. That compares with last year’s record of 144.66 cents for Rio’s Pilbara Blend fines.
Rio’s iron ore unit chief executive Sam Walsh gave a statement that- “We believe this settlement is a realistic outcome for both parties, one that reflects the global market for iron ore and the current challenging market conditions facing our customers.”
Rio share went up 1.2% to A$64.82, reversing an earlier down fall of as much as 1.7 %, at 2:07 p.m. Sydney time on the Australian stock exchange. Nippon agreed to pay 112 cents per dry metric ton unit for Rio’s premium Pilbara Lump product, 44% lower than last year’s contract price, the statement said.
Rio last year won an 80% gain in fines prices with Asian customers and a 97 %rise in lump prices. Australia’s 3rd largest iron ore exporter, Fortescue Metals Group Ltd., jumped as much as 8.3 % and Mt. Gibson Iron Ltd. as much as 9.1%.
A concise chief currencies pair abstract
According to the latest Forex update again on Friday the Euro (EUR/USD) went up, gaining more than 100 pips and closing just below the 1.4000. Before moving back the pair busted above the 1.4000 and reached 1.4050.The pair gained more than 500 pips for the week as USD weakened across the board. Concerns about the U.S. creditworthiness add another reason for traders to move away from the greenback, moving forward the majors higher.
On Friday the Pound (GBP/USD) moved higher gaining another 85 pips and closing above the 1.5900 level. The U.K. revised GDP figures showed that the economy shrank by 1.9% as the preliminary released projected.
The Aussie (AUD/USD) gained approximately 50 pips as USD continues to take a beating. On Friday Gold prices posted a silent gain closing above $957 an ounce. The Aussie closed the week trading higher than the 0.7800 level and moving forward over all of the daily simple moving averages.
General Motors prepares to Declare Bankruptcy Yen rose vs. Dollar
According to the latest Forex updates - After the declaration of U.S. government that General Motors Corp. will file for insolvency today, the Yen climbed up for a 2nd day against the Dollar and the Euro, impelling demand for Yen as a protection from the financial crisis.
The Yen became sophisticated versus 13 of the 16 most-traded currencies after the U.S. government said GM is planning to close 11 factories, accumulating to signs the U.S. recession is far from over. The Euro fell against the Pound on alarm that European Central Bank policy makers will signal this week they plan further steps to keep down borrowing costs, wetting the request of the 16-nation currency. After a Chinese report that shows manufacturing expansion led to the increase of Taiwan Dollar the most in a month.
The Yen became stronger to 95.14 per Dollar as of 1:29 p.m. in Tokyo, from 95.34 in New York last week, when it completed a 3.5 % monthly gain. The Yen increased to 134.58 per Euro from 134.96. The Euro traded at $1.4147 from $1.4158, after gaining 7 % last month, its major forward move since December. Europe’s currency fell to 87.13 pence from 87.46 last week. Sumitomo Mitsui’s Uno said that the Dollar may weaken to as low as 94.25 Yen today.
Central bank of Australia sees scope to cut interest rates.
On Thursday Australia's top central banker stated that he saw possibility to cut interest rates more to make sure a long-lasting economic influence and warned about declining business investment and consumer spending.
Thursday’s Government data sought to strike a chord to the investors about downside risks to the economy with exports falling 11% in April from March. Australian dollar fell down to $0.8014 from around $0.8040 beforehand.
As a result of a droop in exports, Australia suffered its first trade deficit since July last year, just a day after 1st quarter GDP showed the country moved away a recession, helped by its best trade performance in 48 years.
Reserve Bank of Australia Governor Glenn Stevens said that it is likely that activity has remained subdued in the June quarter, the quick downfall in business investment is more or less undoubtedly continuing. While consumer expenditure has held up quite well so far, it may be weaker over the next few months, as the one-off government payments pass and rising unemployment starts to weigh.
Stevens also said that the joint effect of the large fiscal and monetary incentive has played a role in mitigating Australia from the worst global downturn in decades and that monetary policy intended to cut borrowing costs and support demand but the central bank would be careful not to encourage shaky debts.
U.S. Markets: Trading capacity fell considerably ahead of the earnings period.
According to the latest forex updates, U.S. Markets are trading down by a little more than 1.5%, as investors wait for the earnings season to begin in full strangle mode.
The first major company that is due to report its earnings over the second quarter on Wednesday, and market partakers wait for the earnings result of Alcoa. TheLFB-Forex.com Trade Team said that the present earnings season is very important because it can justify or not the strong rally started in March, where the major U.S. indexes advanced as much as 40%.
More significantly, investors will focus on the banking sector earnings, to see if the “wonders” from the first quarter still have legs, and on the retail companies, to determine consumers’ activities over the previous quarter. Since consumer spending mostly drives the U.S. economy, the earnings reports are likely to have a significant influence in the financial market.
Over the last few days of trading, the market has been trading on light trading volume in the European and in the U.S. markets. Particularly, the last two days of trading in the cash market had been very light, especially in the European markets, where the U.K. FTSE moved only on half of the volume recorded over the last few weeks of trading.
The Dow Jones Index fell 144.27 points (1.73%) to 8,180.60, while the S&P 500 index declined 15.59 points (1.73%) to 883.13. Crude oil for July delivery was recently trading at $62.80 per barrel, lower by $1.20. Tuesday was the sixth repeated day in which oil fell down, time in which it lost almost 15%. Gold for July delivery was recently trading higher by $3.90 to $928.20. Gold managed to hold its value on Tuesday, even though crude oil headed lower.
Yen and Dollar Fell While Sterling Excelled
The Yen and the Dollar fell on Thursday, compensating some of the earlier session's gains, while sterling extended gains after the Bank of England kept its quantitative easing target unchanged.
A recovery in European stocks helped to buoy the Euro and perceived higher risk currencies, which fell sharply on Wednesday as optimism about the global economy's recovery prospects, waned and investors trimmed risk exposure.
European equities jumped by 1.1 %, breaking a five-session losing streak and pushing the yen lower after it surged broadly on Wednesday, hitting a five-month high against the USD.
Analysts noted, however, that the current moves are corrective and do not represent any fundamental shift in market sentiment.
Sterling outperformed meanwhile after the BoE left its asset buying programme at 125 billion pounds, just as most in the market had expected the central bank to expand the total by 25 billion pounds..
Sterling jumped by 1.2 % against the Dollar to $1.6255 , while the Euro lost 0.5 percent against the UK currency to 85.98 pence as the pound extended gains after the Bank of England policy decision. The news that it was not expanding quantitative easing came as the central bank left key interest rates unchanged at 0.5 percent, as widely expected.
Women Are Investing In Forex Successfully – Good News
Women Are Investing In Forex Successfully – Good News
You don’t typically think of women as being investors in risk-markets. There are the stereotypes (which are fast changing) of a male-dominated market, one where women are too timid to compete in. In the days of yore, possibly. Today? Not a chance. The difference is easy: the Forex trade market has opened up the investment playing field to one and all. Age, country and gender have become obsolete in the international currency market- and more women are finding it profitable.
The Forex trade market is attractive to female investors for a variety of reasons: it’s a fairly clear and comprehensive investing system; the information and tools are available; and most importantly it can be done from home. Gone are the over-complicated graphing systems a garbled, tough-to-follow investment percentages. Most of the Forex trading platforms available are extremely easy to use, to trade and since the market is so changeable, it can be profitable for anyone.
Women who are interested in Forex can get started immediately. You’ll have to begin with the terminology, which can seem unfamiliar and intimidating. Once you have just a few basic terms down, you can continue exploring your foray into Forex investing by one of two things: getting a broker, or looking at Forex trade platforms and trying out the demo investments.
In getting a broker, you’ll want to choose them quite carefully. Legitimate broker, or..? Women can tend to be a bit more tentative when dealing with finances or financial experts- but you can’t with your Forex trade broker. Ask as many questions as many times as it takes. Look at what the commission is, if any. Find out how much they’re willing to walk you through investing in the Forex trade market.
Demo investments can be done just to see if you’ve got an interest, or as practice while you study more about the Forex trade market. There are uncountable resources out there for the uninitiated female trader: from books of the basic steps to expert Forex trading, ebooks and tutorials. Many aren’t so expensive they’ll break the bank, and they’re understandable without being condescending.
Women becoming the new Forex investors is no surprise. The amount of women in international trade will undoubtedly increase steadily. And, hopefully, the stereotypes will diminish in equal proportions.
News Spike trading 40 pips in 10 seconds
News Spike trading 40 pips in 10 seconds
Although the times are more difficult for newsspiketrader, its still possible to make some good money. Last friday, trading CAD empolyment numbers and US NFP managed to grab in total 40 pips in a matter of 10 seconds, although NFP is for sure not my favorite newstrading release.
CAD trigger of 15 k, long trigger hit: trading USD/CAD 30 pips profit
US NFP trigger of 50 k, short trigger hit: trading AUD/JPY 10 pip profit
As u may see in the charts, it was possible to manage a lot more pips, if u held the trade for a longer time, but i am still not convinced of the recent price action trading news. So better 40 safe pips for me than taking the risk of winning 100, or lose all again.
Should the BoJ intervene or will the BoJ intervene?
Should the BoJ intervene or will the BoJ intervene?
(This article has been posted on The Source, the Wall Street Journal Online's site for European real-time analysis http://blogs.wsj.com/source)
Posted by Katie Martin
It's time for Japan to stop playing Mr Nice Guy.
The country has been holding back from currency intervention for months, but the case for action is becoming overwhelming.
After all, why not intervene? The yen is clearly far too strong. It hit a 15-year peak against the dollar last week and remains elevated on a trade-weighted basis, or simply by comparison with other regional heavyweights like the yuan or the won.
And this is clearly hurting. Just take a look at the gross domestic product data released earlier Monday. Japan's economy grew by a seriously floppy 0.1% in the second quarter of this year. Economists had predicted a rise of 0.6%. Wobbly exports are a big reason for this weakness, and the strong yen has to take part of the blame as it makes Japanese products more expensive abroad.
What's more, the rise in the currency is completely out of whack with economic fundamentals. Japan has a massive debt burden, no growth, interest rates at zero, a deflation problem, grim demographics... you name it. Traders have been buying the yen but not because they are positive about Japan's prospects. No, it's largely down to its role as a perceived safe haven, and even that makes no sense. The yen is not safe. It just tends to climb when markets get the heebeejeebies, because Japanese accounts are traditionally enthusiastic investors in overseas assets. When they get frightened, they sell up, buying yen in the process. Other traders, rationally enough, piggyback on this to make a nice little return. That doesn't make the yen safe, it makes it a bet on safety.
So, here we have a currency that has snapped its link with reality and is causing damage to its economy. That's reason enough for other countries to stop the rot. Why haven't the Japanese authorities acted already, either by selling yen or by easing monetary policy further?
Some reasons make sense. One is that, at the moment, monetary policy is not in further easing mode. Intervention rarely works unless it's in synch with the path of interest rates.
Another is that, while the yen's climb has grim repercussions, it is not, in itself, disorderly. It's not yet rising at the sort of pace which clearly calls for an official hand to slow it down.
The last main obstacle, though, is widely seen as the most significant, and it is also arguably the weakest: it lacks international support. Japan does not appear to have the go-ahead for a zap on the yen and, as a good global citizen fully signed up to the international mantra of freely-floating exchange rates, it appears to feel obliged to let the market do its work, for good or ill.
However, that does not stop anyone else. China has allowed a little more flexibility on the yuan, but that currency is certainly not climbing as such. The U.S. Federal Reserve has said it may consider more bond purchases to support the economy--a de facto slap to the dollar. The Bank of England made no secret of its joy at the fall in sterling at the start of this year, as that should, all things being equal, boost U.K. exports.
The fear of currency strength affects monetary policy decisions elsewhere, too. Norway, for example, has held back from raising rates at some points this year because it fears making the krone even stronger than it is already.
To be fair, unilateral interventions of the currency-selling variety don't generally work. Just ask the Reserve Bank of New Zealand about its ill-fated 2007 maneuver. So, in a way, Japan is right to wait until it draws other major powers into a dollar-buying spree.
If, however, Japan does feel constrained by the sense of fair play that many market-watchers point to, then that is misplaced. Verbal interventions may be working for now, restraining short-term yen gains, but don't be surprised if the Ministry of Finance decides enough is enough pretty soon.
start 2011
start 2011
Happy New Year.
2011 is the year I expect up trend, during Jan it would drop the bottom and make the lowest price of 2011, then it would be up trend until May.
Many people would join market and most of them leave market in this year too.
why most of traders lost and left market?
it might be pure gamble. but you can win black jack if you know how to do counting.
a common thing about looser traders is lack of knowleage.,, does anyone knows how to calculate MACD? anyone knows what kind of important news and event we have in this month? anyone knows enought knowleage about arbitrage? it does not mean if you know all, you can win trading, but it is more possible to be success trader if you know more knowleage.
we can think Effort never tells a lie.
Good luck!
The Best Forex Broker
Once the decision is made to start trading foreign exchange, the next step is to select a broker. So what does a broker do? Basically, a forex broker buys and sells orders on the traders behalf. Although many tout themselves as offering “commission free trades,” brokers earn money by charging a commission or a fee for their services – it’s just called “the spread,” in foreign exchange trading.
Choosing the best foreign exchange broker for your needs will mean some research on your part, but its is worth taking a little time choosing - you really need to decide a, whether the broker you choose is honest, b, the fees you will be charged and c, which broker is likely to suit your trading style and philosophy. Are you a smash and grab merchant or in for the long haul?
The Forex market is an “unregulated” market, which is unlikely to change in the near future. But there are agencies where brokers can register themselves and certain government bodies in the USA are making an effort to educate the public about foreign exchange trading. In the United States a broker can register as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and join the NFA. The CFTC and NFA were created in order to protect the public against fraud, scams and abusive trade practices.
Choosing the best foreign exchange broker for your needs will mean some research on your part, but its is worth taking a little time choosing - you really need to decide a, whether the broker you choose is honest, b, the fees you will be charged and c, which broker is likely to suit your trading style and philosophy. Are you a smash and grab merchant or in for the long haul?
The Forex market is an “unregulated” market, which is unlikely to change in the near future. But there are agencies where brokers can register themselves and certain government bodies in the USA are making an effort to educate the public about foreign exchange trading. In the United States a broker can register as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and join the NFA. The CFTC and NFA were created in order to protect the public against fraud, scams and abusive trade practices.
Thursday, January 20, 2011
Wednesday, January 19, 2011
Madeira Airport (Madeira)
Madeira Airport (Madeira)
The airport was once infamous for its short runway which, surrounded by high mountains and the ocean, made it a tricky landing for even the most experienced of pilots. The original runway was only 1,400 metres in length, but was extended by 400 metres after the TAP Air Portugal Flight 425 incident of 1977 and subsequently rebuilt in 2003, almost doubling the size of the runway, building it out over the ocean. Instead of using landfill, the extension was built on a series of 180 columns, each being about 70m tall.
For the enlargement of the new runway the Funchal Airport has won the Outstanding Structures Award, given by International Association for Bridge and Structural Engineering (IABSE). The Outstanding Structures Award is considered to be the "Oscar" for engineering structures in Portugal
Gustaf III Airport (St. Bart)
World's Most Dangerous Airports
Princess Juliana International Airport (Saint Martin)
Princess Juliana International Airport serves Saint Maarten, the Dutch part of the island of Saint Martin. It is the second busiest airport in the Eastern Caribbean. The airport is famous for its short landing strip — only 2,180 metres/7,152 ft, which is barely enough for heavy jets. Because of this, the planes approach the island flying extremely low, right over Maho Beach. Countless photos of large jets flying at 10--20 m/30-60 ft over relaxing tourists at the beach have been dismissed as fakes many times, but are nevertheless real. For this reason as well it has become a favourite for planespotters. Despite the difficulties in approach, there has been no records of major aviation incidents at the airport.
Princess Juliana International Airport serves Saint Maarten, the Dutch part of the island of Saint Martin. It is the second busiest airport in the Eastern Caribbean. The airport is famous for its short landing strip — only 2,180 metres/7,152 ft, which is barely enough for heavy jets. Because of this, the planes approach the island flying extremely low, right over Maho Beach. Countless photos of large jets flying at 10--20 m/30-60 ft over relaxing tourists at the beach have been dismissed as fakes many times, but are nevertheless real. For this reason as well it has become a favourite for planespotters. Despite the difficulties in approach, there has been no records of major aviation incidents at the airport.
List of airports in Pakistan
This page lists the civil airports, military airbases and small airports in Pakistan. There are an estimated 139 airfields in Pakistan.[1] The largest airport in Pakistan is Jinnah International Airport, Karachi, which can handle 30 aircraft at a time and has 16 passenger gates. It handles 6 million passengers annually and has a capacity of handling 12 million passengers annually. In addition, the international airports at Lahore, Islamabad, Peshawar and Quetta are also major civil airports handling the majority of domestic and international civil aviation traffic in Pakistan.
All civil airports in Pakistan are operated by the Pakistan Civil Aviation Authority, with the exception of Sialkot International Airport, which is the first private airport in Pakistan and South Asia open to domestic and international civil aviation. It is owned and operated by the Sialkot Chamber of Commerce & Industry. All military airbases in Pakistan are operated by the Pakistan Air Force, with the exception of Dhamial Army Aviation Airbase in Rawalpindi and Tarbela Army Aviation Airbase, which are operated by the Pakistan Army.
All civil airports in Pakistan are operated by the Pakistan Civil Aviation Authority, with the exception of Sialkot International Airport, which is the first private airport in Pakistan and South Asia open to domestic and international civil aviation. It is owned and operated by the Sialkot Chamber of Commerce & Industry. All military airbases in Pakistan are operated by the Pakistan Air Force, with the exception of Dhamial Army Aviation Airbase in Rawalpindi and Tarbela Army Aviation Airbase, which are operated by the Pakistan Army.
Japan Airlines
Japan Airlines brings the world to the Land of the Rising Sun and takes Japan to the world. Its main operating unit Japan Airlines International is part of the Oneworld global marketing alliance, which counts among its members AMR's American Airlines and British Airways. The carrier serves airports in some 35 countries (including some served by partners). Its fleet consists mainly of Boeing jets. Besides its scheduled passenger services, Japan Airlines carries air cargo and provides maintenance and ground-support services for airlines. Burdened with a crushing debt load of $25 billion, the company voluntarily filed for bankruptcy protection in January 20
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