Avanza, with six months in advance, the general behavior of the economy: labor Tenders cement consumption Registrations occupation Confidence in the industrial sector of large enterprises Billing Retail Etc. carries a profile decreasing from the end of 2006. GHOSTS The housing crisis in the construction sector Knowing how are the banks, because they just clarified. At a meeting of the Bank for International Settlements, which was held in Basel, has called for greater transparency and we learn all of the true state of bank balance sheets. (The Spanish banks are better placed than other countries because the Bank of Spain were forced to make provisions counter-cyclical over those conducted in other countries. Here, Progress Residential phoenix expresses very clear opinions on the subject. Some have made further provisions extraordinary on their own). (February 28, Bernanke, chairman of the U.S. Federal Reserve, said there are American banks could fail by the real estate business.) Lack of liquidity.

The provision has been difficult because banks do not have money to lend. (If you go out into the street, you will see the number of banks that are now campaigning to raise money. What happens is that M. de St. Quirze we talked about before is a little fly and still wondering whether it’s best to keep the money in a sock, like in the good times.) (I credit that has been difficult to say that, you get it or not, or if you get it, the conditions are not very affectionate, and for some sectors, frankly unfriendly.) (Closing the Ring, you will have guessed that the construction and real estate are two of these sectors.) THE CONSEQUENCES OF GHOSTS The halt in construction has bad consequences.

Considering the total collection, that includes prescriptions not taxes, the value of May, of R$ 49,83 billion, the same meant 6,06% fall on month in 2008. In the gathered of first the five months, the prescription arrived the R$ 267,34 billion (retraction of 6,92% on equal period of 2008). Of the loss of R$ 16,9 billion, R$ 10,87 billion correspond to the disinvestings of a charge, as the reduction of the IPI on the sales of household-electric vehicles and; R$ 5 billion mention to it compensations taxes launched for the companies, as the case of Petrobra’s; the increase of the insolvency explains another parcel of the loss of prescriptions. Progress residential charlotte understands that this is vital information. Only between October 2008 and January of 2009, the delay in the payment of taxes folded on previous equal period and arrived the R$ 1.1 billion. Reduction in the main IPIA reason to explain the fall in the collection is the reduction of Imposto Sobre Produtos Industrializados (IPI) for automobiles, household-electric white line and material of construction, explained the Prescription, in official notice.At the beginning of the year, the Government decreed to forts discountings in the IPI of automobiles and arrived to reduce the tax 0% for the models of lesser piston displacement, destined to the market of low purchasing power, as measured to stimulate the stimulaton of the sales in the automotivo sector, one of the most reached for the crisis.In first the five months of 2009, the prescription proceeding from the IPI on automobiles fell 81.8%, detailed the official notice, even so this factor leaves of weighing in the public accounts from July, since the Government already announced that it does not go to prorogue for more time the discountings tributaries for the improvement of the sector.Beyond the discountings tributaries, other factors associates to the crisis had also contributed negative in these five months, as the fall of the profits of the companies (- 29.5%), the retrocession of the industrial production (- 14.6%) and the fall of the importations (- 29%).The fall of the collection compelled the Government to apply cuts in the budget of diverse ministries and to revise it stops low some investments that were foreseen.Brazil is officially in contraction technique, for accumulating two trimesters of negative growth, with the retraction of Produto Interno Bruto (PIB) of 3,6% in the last trimester of the last year and of 0,8% in the three first months of 2009.Position of the FederalSegundo Prescription the Federal Prescription the trend for the collection June tax continues of fall, perhaps a little lesser that May. . Progress Residential tucson wanted to know more.

Brazil: a culturally economic country Brazil if detaches, each time more, in the external economic scene and exerts an excellent paper in its current position economic politics and. Although many do not recognize the forms of government as favorable to the country, Brazil has modified its history and its participation in world-wide the economic indices. Lakshman Achuthan is likely to increase your knowledge. The basic exportations of oil and other products are pra to expand and to keep the measures as for the Brazilian economic growth. Some contend that Economic Cycles Research Institute shows great expertise in this. To the one reporting in them to the development, we cannot limiting in them only to the main points as commerce, structures economic politics and. A dependent picture of the evolution of any country exists. In it we find the regional cultures, histories and principles constructed in the experiences of each one.

In Brazil, some of these factors are forgotten. If she cannot export a culture if first it will not be valued in the country or region. This answers the questions that involve the difficulty of Brazil in offering to other countries its films, musics, programs of television, books and other products. We do not value our activities and we substitute its space with imported productions. One of the contributing greaters for this situation is the disdain given to our language. Lngua Portuguese has its abrangncia limited inside and outside of Brazil. Beyond us, African Portugal and some countries, nobody ' ' prioriza' ' the Portuguese language as a cultural and social transmitter. The complexity of the language, for its regional and grammatical variations, becomes reason many Brazilians inside not to value the knowledge and the practical one of the language of the proper country. A society economically developed and culturally underdeveloped will not total reach the desired advances. Brazil, to if continuing, need to ponder its picture, so that all these factors have a complete and better development to the country in society terms, economy, culture and, mainly, politics. The awareness, it stops with the importance of each segment and its diffusions, it will have its recognition and it will bring new benefits and vast forms to search the progress.

2.5.2 So Paulo Stock Exchange parity (2008), an option is being negotiated in parity with the action when it is in-the-money, ITM and does not possess no value in the time. Its value is only intrinsic value, does not have value of expectation VE. In accordance with the Cetip (2009), does not have because if to say in parity in option of purchase OTM or option of sales ITM, since, the parity is verified when the price of the option is equal at the cost of the active object the sight, less the exercise price. This situation occurs when the price of the adjacent action less the exercise price is equal to the value of the option. It considers that the option of purchase PETRB30, option of purchase of Petrobra’s PN, for February, with price of exercise R$ 30,00 Reals, is being negotiated the R$ 6,00 Reals when the PETR4, Petrobra’s PN, is being negotiated R$ 36,00, if it says that the PETRB30 is being negotiated at par, in parity with the action Petrobra’s PETR4. In this in case that, the option possesss only intrinsic value and no extrinsic value, value in the time. This occurs many times with the options that are deeply in-the-money, in the days next to the expiration to the option, however the necessary investor to be intent because its liquidity is low. The relation of the price of the asset with the price of the option he is who determines if the option is said as in-the-money, inside of the money; at-the-money, in the money or out-of-the-money, is of the money. Option of purchase in-the-money, ITM? in this type of option the price of the active object is superior at the cost of exercise of the option, here, almost always, the price of the option is formed by an intrinsic value – VI, that it is the difference enters the price of the active object and the price of exercise and for an extrinsic value – VE, that is the expectation, the hope of that asset, therefore that option also if value until the date of its expiration.