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Friday, March 27, 2009

Asian Summary on 27032009

Stocks mixed, off their early peaks, but overall it was a more encouraging week for equities; auto and tech stocks rose, plus there was some further quarter and fiscal year-end buying noted. Nikkei off just 0.1%, Kospi off 0.5%, Taiwan +0.1%, Aussie shares +0.7%, Shanghai Composite +0.7%, HSI off 0.5%, STI down 0.9%.

FX majors fairly well behaved with some JPY-buying related to end-year repatriation; USD/JPY at 98.14 late, EUR/JPY at 133.36, EUR/USD 1.3585.

Japan Feb core CPI flat Y/Y vs 0.1% fall tipped, overall CPI down 0.1% Y/Y, down 0.3% M/M; Tokyo area March core CPI +0.4% Y/Y, as tipped, overall CPI +0.2% Y/Y, +0.3% M/M. Feb Japan retail sales down 5.8% Y/Y, sharpest fall since February 2002. Korea revised 4Q GDP showed 5.1% fall Q/Q vs 5.6% drop initially, 3.4% contraction Y/Y, same as first forecast. NZD ticked higher on data there: NZ 4Q GDP down 0.9% Q/Q vs revised 0.5% contraction in 3Q, biggest quarterly decline since September 1992, though slightly less than 1.0% contraction tipped; GDP down 1.9% Y/Y, in line with forecasts. February trade surplus NZ$489 million vs revised deficit of NZ$104 million in January, NZ$173 million gap tipped; mostly due to biggest slump in imports in 16 years. PBOC put out yet another essay which criticized the U.S. in runup to G20 meeting, focusing on what it deemed an insufficient financial regulatory system. Vietnam 2008 GDP grew 6.18%, vs 6.23% earlier estimate, with government tipping GDP +4.8%-5.6% this year, after estimating growth of 3.1% on-year in 1Q. May Nymex crude off 67 cents.(RXM)


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MarketTalk@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=DT7wWXKQXAopWz3ZYwd7PA%3D%3D. You can use this link on the day this article is published and the following day.



(END) Dow Jones Newswires

March 27, 2009 02:17 ET (06:17 GMT)

Asian Summary on 27032009

Stocks mixed, off their early peaks, but overall it was a more encouraging week for equities; auto and tech stocks rose, plus there was some further quarter and fiscal year-end buying noted. Nikkei off just 0.1%, Kospi off 0.5%, Taiwan +0.1%, Aussie shares +0.7%, Shanghai Composite +0.7%, HSI off 0.5%, STI down 0.9%.

FX majors fairly well behaved with some JPY-buying related to end-year repatriation; USD/JPY at 98.14 late, EUR/JPY at 133.36, EUR/USD 1.3585.

Japan Feb core CPI flat Y/Y vs 0.1% fall tipped, overall CPI down 0.1% Y/Y, down 0.3% M/M; Tokyo area March core CPI +0.4% Y/Y, as tipped, overall CPI +0.2% Y/Y, +0.3% M/M. Feb Japan retail sales down 5.8% Y/Y, sharpest fall since February 2002. Korea revised 4Q GDP showed 5.1% fall Q/Q vs 5.6% drop initially, 3.4% contraction Y/Y, same as first forecast. NZD ticked higher on data there: NZ 4Q GDP down 0.9% Q/Q vs revised 0.5% contraction in 3Q, biggest quarterly decline since September 1992, though slightly less than 1.0% contraction tipped; GDP down 1.9% Y/Y, in line with forecasts. February trade surplus NZ$489 million vs revised deficit of NZ$104 million in January, NZ$173 million gap tipped; mostly due to biggest slump in imports in 16 years. PBOC put out yet another essay which criticized the U.S. in runup to G20 meeting, focusing on what it deemed an insufficient financial regulatory system. Vietnam 2008 GDP grew 6.18%, vs 6.23% earlier estimate, with government tipping GDP +4.8%-5.6% this year, after estimating growth of 3.1% on-year in 1Q. May Nymex crude off 67 cents.(RXM)


Contact us in Singapore. 65 64154 140;
MarketTalk@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=DT7wWXKQXAopWz3ZYwd7PA%3D%3D. You can use this link on the day this article is published and the following day.



(END) Dow Jones Newswires

March 27, 2009 02:17 ET (06:17 GMT)

Thursday, March 26, 2009

Germany's Merkel Says NATO Must Succeed In Afghanistan

BERLIN (AFP)--German Chancellor Angela Merkel said Thursday that the North
Atlantic Treaty Organization must succeed in Afghanistan to ensure that the
country does not become a base again for "terrorists" to attack the alliance's
members.



"Afghanistan is NATO's biggest test at present," Merkel said in a speech to
parliament ahead of the alliance's 60th anniversary summit in Strasbourg,
France and the German towns of Baden-Baden and Kehl on April 3-4.



"For me our aim remains clear, against which our success will be measured,
that Afghanistan no longer poses a terrorist threat to our security, in other
words in NATO member countries. That is our aim," Merkel said.



"We should remember that Afghanistan ... was the base for the attacks of
September 11, 2001. This was possible because there was no functioning state,
and that was the reason for our engagement in Afghanistan, because it
threatened our security, the members of NATO."



Germany has about 3,500 troops in Afghanistan, one of 41 nations forming the
60,000-strong NATO-led International Security Assistance Force. The German
parliament voted last year to increase this to 4,500. The U.S. also has a
further 10,000 soldiers there not under NATO command.


Next week's summit is expected to see Barack Obama in his first visit to
Europe since becoming U.S. President in January press allies in the alliance,
Germany included, to do more in Afghanistan.



Germany's troops are based in the relatively peaceful north of Afghanistan -
14 of its soldiers have been killed there in attacks - but Merkel reiterated
that her country is pulling its weight in terms of police support and civilian
reconstruction work.



"We can be satisfied with our performance," she said.



She also welcomed Obama's moves to develop a joined-up strategy for both
Afghanistan and Pakistan, but stressed that there can be no talks with those
"not interested in reconstruction."

WORLD FOREX: Dlr Rises, Euro Mixed As Risk Appetite Improves

The dollar is mostly higher in Europe Thursday as risk
appetite improves a little and concerns about U.S. Treasury policy towards the
currency subside.



The rise in risk appetite was illustrated in a rally by the euro against the
yen, with equity markets showing some further strength.



Market sentiment was helped by data Wednesday showing that both U.S. durable
goods orders and new home orders had risen sharply, instead of continuing
their recent decline as the market had expected.



The fresh hope of economic recovery this injected into markets helped to lift
the Dow Jones Industrial Average 1.5% and then the Nikkei Index in Japan 1.9%.



However, there was some sign this sentiment was faltering, with most European
bourses starting their trading slightly in the red Thursday.



Underlying these moves is the continued debate on just what U.S. Treasury
Secretary Tim Geithner hoped to achieve by saying Wednesday he was "quite open"
to Chinese suggestions of a move towards Special Drawing Right-linked currency
reserves.



The U.S. official quickly back-tracked, stating the dollar will remain the
global reserve currency for some time to come, and helped the dollar to recover
sharp losses it made on the original statement.



See chart at



http://www.dowjoneswebservices.com/chart/view/1777



However, analysts said the episode illustrated just how fragile dollar
sentiment remains to any suggestion foreign countries are in any way
considering reducing their dollar-denominated reserves.



An SDR-linked currency is likely to hold a much higher percentage of euros,
yen and sterling, rather than dollars.



The euro, meanwhile, was having a mixed day, helped by higher risk appetite
but hurt by news that German consumer confidence declined for the first time
since September 2008.



Although sterling had been doing well at the start, the release of data
showing a 1.9% drop in U.K. retail sales last month pushed it lower.



By 1020 GMT, the dollar had pushed ahead to Y98.16 from Y97.30 late Wednesday
in New York, according to EBS.



The euro was down at $1.3567 from $1.3587, but rose to Y133.24 from Y132.19.



The pound was up at $1.4567 from $1.4531, but it had been as high as $1.4633.



The dollar rose to CHF1.1263 from CHF1.1203, while the euro rose to CHF1.5285
from CHF1.5222. For the second day in a row, the euro has been pushed down
close to CHF1.5200 to see if this will trigger intervention by the Swiss
National Bank.



The Swiss central bank launched a surprise intervention exercise March 12
when the euro fell as far as CHF1.4800.



In Eastern Europe, the Hungarian forint was staging a technical bounce, with
the euro falling to HUF301.89 from HUF302.41.



The euro was also down at PLN4.5541 from PLN4.5819, but up a little at
CZK27.515 from CZK27.413.




-By Nicholas Hastings, Dow Jones Newswires; 44 20 7842 9493;
nick.hastings@dowjones.com TALK BACK: We invite readers to send us comments
on this or other financial news topics. Please email us at
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right not to publish reader comments.

PBOC Zhou Urges Govts To Give Fin Mins Authority To Act Fast

People's Bank of China Gov. Zhou Xiaochuan Thursday
suggested world governments give their finance ministries and central banks
authority to take bold steps to deal with severe crises so that they have the
means to handle such crises when they strike.



He said delays had taken place in the latest crisis.



"To stabilize markets under severe stress, finance ministries and central
banks need to act fast and apply extraordinary measures," Zhou wrote in an
essay published on the central bank's Web site.



"Untimely or delayed response falls behind the curve and would make the
outcome less than desired even if the response is correct and strong," he said.



"Going forward, national governments and legislatures may consider giving
pre-authorized mandates to ministries of finance and central banks to use
extraordinary means to contain systemic risk under well-defined stress
scenarios, in order to allow them to act boldly and expeditiously without
having to go through a lengthy or even painful approval process," he said.



The essay elaborates on comments Zhou made in November, at the meeting of
Group of 20 central bankers and finance ministers in Sao Paulo, Brazil.



In contrast, he said, China has responded "decisively" and quickly to the
crisis, loosening monetary policy and introducing the CNY4 trillion stimulus
plan in November.



"Facts speak volumes and demonstrate that compared with other major
economies, the Chinese government has taken prompt, decisive and effective
policy measures, demonstrating its superior system advantage when it comes to
making vital policy decisions."



The essay, titled "Changing Pro-Cyclicality for Financial and Economic
Stability," also discusses features of the world's financial system that
magnify swings in the market.



Among the examples, the three main ratings agencies tend to give "highly
correlated" ratings, he said.



"Economic upswings produce euphoria and downturns generate pessimism," he
said, adding the rapid downgrades of ratings in the latest financial crisis
drove massive write-downs at financial institutions and "exacerbated downward
spirals."




-By China Bureau; Dow Jones Newswires; 8610 6588 5848;
djnews.beijing@dowjones.com

Iran Confirms Attendance At Afghanistan Meeting - Reuters

Iran has confirmed it will participate in Tuesday's U.N.
conference in The Hague on the future of Afghanistan, but has yet to decide who
to send, Foreign Ministry spokesman Hassan Qashqavi said Thursday, as reported
by Reuters.



"Iran will participate. The level of participation is not clear," said
Qashqavi.



U.S. Secretary of State Hillary Clinton said earlier this month Tehran would
be invited to the conference to discuss Afghanistan.




Full story:
http://www.reuters.com/article/topNews/idUSTRE52P1U520090326?feedType=RSS&feedNa
me=topNews




-London bureau, Dow Jones Newswires; +44 (0)20 78 42 9330;
generaldesklondon@dowjones.com

Man Grp FY 2009 FY Pretax Pft -43%; Launches New Ops

LONDON (Dow Jones)--Man Group PLC (EMG.LN) Thursday reported a 43% decline in
full-year pretax profit for 2009 and said it was combining its three
funds-of-funds products into a single business to improve transparency and risk
management.

Thursday, March 19, 2009

ASIA OUTLOOK 19 Maret 2009

EUR still on the rise after Fed's decision
to broaden quantitative easing, with EUR/USD going over 1.35 for its highest
level since Jan. 9; now at 1.3522 vs 1.3480 late in NY, having gone briefly as
far as 1.3533. USD/JPY meanwhile falls below 96 for its lowest mark since Feb.
24; now at 95.90 vs 96.21 in NY.


EUR/JPY at 129.72, vs 129.70 in NY. Stocks
have positive cue from Wall Street, which gained on Fed news; NZ shares +0.5%.
Watch for rise too in government bonds as Treasurys rallied; 10-year yield had
its biggest fall in two decades. Data include Japan All Industry Index 2350
GMT, RBA Bulletin 0030 GMT; Aussie dwelling unit commencements 0030 GMT, plus
international merchandise imports, with HK trade 0830 GMT. Weekly India WPI
0630 GMT. BOJ monthly report due.

Europe has Italy trade, UK public sector
finances and U.S. has weekly jobless claims, Philly Fed index.(RXM)

Market Summary 19 Maret 2009

U.S. dollar tumbled sharply after Fed surprised markets by escalating quantitative-easing program, signaling more
aggressive approach to keeping longer-term yields low, stabilizing credit
markets. EUR/USD reached 1.3499, highest level since Jan. 9, marking one of its
biggest intraday gains; in early NZ trade euro tapped 1.3533, and dollar fell
below 96 against yen for 1st time since Feb. 24.

Dollar selloff was triggered
after Fed said it would expand its purchases of mortgage-backed securities by
additional $750 billion plus spend as much as $300 billion to purchase U.S.
Treasurys; "the U.S. dollar took a significant hit right across the board,"
said Dustin Reid, director at RBS Greenwich Capital Markets; says mechanics of
Fed program increases money supply, erodes the value of the dollar; confidence
boost to markets also increasing risk-appetite, reducing safe-haven flows to
dollar.

Late Wednesday, EUR/USD was 1.3480 vs 1.3009, last at 1.3522 in
Wellington. USD/JPY 96.21 vs 98.54, last 95.85; EUR/JPY 129.70 vs 128.17,
GBP/USD 1.4288 vs 1.4041, USD/CHF 1.1432 vs 1.1828. Stocks rose as Fed decision
boosted financial institution shares such as AIG, Bank of America; Citigroup
rose 23%, to triple value since early March low; BofA +22% to highest level
since January. Dow +1.2%, Nasdaq +2%. Treasurys surged on Fed move with 10-year
yield posting steepest one-day drop in more than 2 decades; bonds rallied
across board. "It takes your breath away," said Chris Ahrens, interest rate
strategist at UBS Securities LLC. 10-year yields fell 47.9 bps to 2.52%,
30-year fell 25 bps to 3.55%.

Nymex April crude down $1.02 at $48.14/bbl as
prices backed down from recent highs near $50 after data revealed U.S. crude
stockpiles at their fullest since 2007. Comex April gold fell $27.70 to
$889.10/oz, mostly on chart-based long liquidation after some of the recent
safe-haven demand waned. (SML)

AIG's Liddy: AIG Likely Won't Ask For More Federal Money

American International Group Inc. (AIG) chairman and
CEO Edward Liddy said that he didn't expect that the company would request more
federal funds and that the company hoped it wouldn't exhaust $173 billion
pledged to it by the government.



Liddy is testifying before the U.S. House Financial Services Capital Markets
Subcommittee Wednesday. Liddy indicated that $30 billion steered to AIG earlier
this month by the federal government may not be used.



"I do not anticipate asking the federal government for more money," Liddy
said. "I would like very very much if we did not have to draw on the $30
billion."



Asked directly about how long it will take for the company to wind down its
financial products division - the source of much of its problems - Liddy said
it could take as long as four years. He said the company should be able to show
"tremendous progress" on winding down various books of business by the first
quarter of 2010, but that getting the whole division unwound could take longer.



Liddy also said that he didn't expect businesses currently under the AIG
umbrella to continue using the AIG name in the future.



"I think the AIG name is so wounded and disgraced, we'll probably have to
change it," he said.

Fed Has Gone "All In" - RBC

Fed has gone "all in," says RBC Capital Markets senior
FX strategist David Watt; "while the FOMC left rates unchanged at de minimis
levels, they decided there was no time like the present to announce plans to
buy U.S. Treasurys, $300 billion over the next six months to be exact, focused
primarily on the two-to-ten-year part of the curve. That amounts to $50 billion
a month, but the values are not as important as the symbolism, and those values
are likely just the opening gambit." Adds "the Fed is not going to sit on its
hands; it is going to remain proactive. U.S. equities fell in love with Ben
Bernanke all over again, while the dollar was taken to the woodshed and beaten
like a dog. And after a short rest, beaten like a dog again. Market sentiment
on the Fed's maneuver was crystal clear."(RXM)

FED WATCH: Democratic, Or Just Dazed And Confused?

The Federal Reserve's dramatic decision Wednesday to
commit an additional $1 trillion-plus to steadying the economy and financial
markets gave equity and fixed-income markets a much-needed jolt.



But the one-day fix may come at the expense of the Fed's reputation for
clarity and predictability.



It might be something investors and the public just have to live with under
the Ben Bernanke era, where an apparently more democratic and consensus-driven
approach means meeting outcomes aren't always going to be foregone conclusions.



Whatever the rationale, the Fed's $300 billion Treasury purchase shocker
caught Fed watchers off guard.



The announcement came less than two weeks after the Fed's main ambassador to
Wall Street, New York Fed President William Dudley, appeared to close the door
to the idea. "At this point in time the Fed has judged buying long-term
Treasurys is not the most efficient means of easing financial market
conditions," Dudley said.



Of course, that's a bit of a noncommittal committal. With the benefit of
hindsight, Dudley seemed to be referring to what the Fed's thinking was to that
point, and it wasn't a promise of future action (or inaction). But at the time,
it appeared to be a clear signal that buying Treasurys wasn't on the immediate
horizon.



Another head-scratcher from Wednesday's statement was Richmond Fed President
Jeffrey Lacker's shift from the "nay" to "yea" camp. He had dissented at the
January FOMC meeting because he wanted the Fed to increase the monetary base
via Treasury purchases and not targeted credit programs.



The Fed took a baby step toward Lacker with the Treasury purchase plan. But
it took a giant leap away by supersizing the agency debt and agency-backed
mortgage backed securities purchase plans by a combined $850 billion to $1.45
trillion. Those programs, and others like the $1 trillion Term Asset-Backed
Securities Loan Facility, are precisely the kind of market-specific facilities
that Lacker had opposed.



One interpretation may simply be that the outcome of a meeting can't, or
shouldn't, be predetermined. The Fed now meets for two-day stretches, giving
lengthy time for discussion, and even perhaps for minds to be changed.



"What we're seeing is if there's a more democratic monetary policy,
individual participants talk about it...and small shifts in the median voter is
enough to move a program," said Vincent Reinhart, an American Enterprise
Institute economist who headed the Fed's monetary affairs division under former
Chairman Alan Greenspan and in the early months of Bernanke's term.



And there may be a good economic rationale for being so aggressive now.
Although gross domestic product likely fell again in the first quarter after
plunging 6.2%, at an annual rate, in the fourth quarter, there are some signs
of stability.



Consumer spending was fairly solid in the first two months of the year, and
housing starts appear to have stabilized, albeit at very low levels. If the
economy has indeed hit bottom, then the Fed's actions might add some wind to
the sails. At least there's less of a risk they'll be overwhelmed by a
deepening recession.



It's harder to have a charitable view about how the Fed is arriving at these
mind-boggling figures. It's unclear why the Fed decided that $750 billion, and
not $100 billion or $400 billion, was the right amount to increase the MBS
facility, or why they doubled the separate agency debt program instead of, say,
quadrupling it.



"The sizes do puzzle me," said Reinhart, as do the changes that occurred in
the intermeeting period to prompt the actions. "Why are circumstances so much
different this time?"

Fed Hold Rates Near Zero; To Buy Tsys, More MBS

The Federal Reserve said Wednesday it will buy up to
$300 billion in longer-term Treasurys and raise the size of a lending program
aimed at mortgage-backed securities by another $750 billion, a forceful
reminder that officials still have powerful tools to combat the recession.



The Fed, as universally expected, also took no action on its main policy
rate, holding it near zero.



The commitment to buy Treasury securities and additional mortgage-related
debt will almost certainly cheer Wall Street, since the combination should mean
lower rates for a variety of business and consumer loans.



The Federal Open Market Committee voted 10-0 to hold the target federal-funds
rate for interbank lending in a range between zero and 0.25% and to continue
using credit programs financed by an expansion of the Fed's balance sheet to
stabilize markets.



Richmond Fed President Jeffrey Lacker, who dissented in January, went along
with the rest of the FOMC this time. He had wanted the Fed to focus on Treasury
purchases as opposed to targeted credit programs.



The discount rate for Fed loans was unchanged at 0.5%.



"Information received since the [FOMC] met in January indicates that the
economy continues to contract," the Fed said.



Officials repeated their pledge to keep rates exceptionally low for an
extended period. With rates near zero, the Fed has financed its various credit
facilities via an increase in bank reserves - essentially printing money, as
Fed Chairman Ben Bernanke explained in a "60 Minutes" interview aired Sunday.



The Fed will buy up to $300 billion in long-term Treasurys over the next six
months, it said. The additional mortgage-backed securities purchases will push
the Fed's mortgage-related facility to as much as $1.25 trillion. The Fed also
said it would increase the size of its agency debt purchase facility by $100
billion to $200 billion.



The Fed's strategy appears to be to double down on the programs that it
thinks work. In addition to commercial paper and money market mutual fund
facilities, which appear to have stabilized those sectors, Bernanke has
repeatedly highlighted the decline in mortgage rates in response to the agency
and mortgage-backed securities facilities, calling it one of the "green shoots"
evident in some markets.



The Fed also said it would like to expand eligible collateral for the Term
Asset Backed Securities Loan Facility, or TALF. The TALF is aimed at spurring
new lending in consumer, student loan, small business and real estate markets
and could eventually total $1 trillion. The Fed is accepting applications for
some of those TALF loans and will start dispersing funds next week.



As for the economy, the Fed said, "although the near-term economic outlook is
weak, the Committee anticipates that policy actions to stabilize financial
markets and institutions...will contribute to a gradual resumption of
sustainable economic growth." Exports, meanwhile, "have slumped," the Fed said,
reflecting the global downturn.



U.S. gross domestic product is on track to decline 5% or more, at an annual
rate, in the first quarter. It plunged at a 6.2% rate in the fourth quarter of
2008, the steepest in a quarter century. The pace of employment loss has
stepped up since the January meeting, with the economy now shedding more than
650,000 jobs per month, pushing the unemployment rate to 25-year highs.



One nugget of good news is that consumer spending figures signaled some
stabilization since the start of the year. Since consumption makes up about 70%
of the economy's output, a revival in spending would signal better times ahead.
But economists are divided on how to interpret the January-February figures.



Officials made few changes to their assessment of inflation, repeating that
it should stay subdued and may even persist for a while below rates the Fed
thinks are consistent with a growing economy and price stability.



U.S. consumer prices rose for a second-straight month in February, the
government said Wednesday, easing fears somewhat over prolonged price declines
known as deflation.



However, consumer prices are up just 0.2% from a year ago, well below the 2%
rate most Fed officials think is consistent with their long-term goals.

Tsys Surge After Fed Moves To Buy Gov Bonds

2:26 (Dow Jones) Treasurys surge across the board after the Fed moves to buy
government debt. The Fed says it will buy up to $300B in Treasurys over the
next six months. Ten-year note up 3 points to 100 26/32 to yield 2.65% while
the 30-year bond is up 5 4/32 to 99 22/32 to yield 3.53%. DJIA back around
session highs, up 111.



2:24 (Dow Jones) Euro soars to eight-week high of $1.3351 after the FOMC
decision, rising more than two cents from its levels just prior, $1.3110. In
NY, EUR/USD was at 1.3302 from 1.3009 late Tuesday.



2:22 (Dow Jones) The FOMC economic outlook is largely the same, but it is
seriously pushing up its campaign to aid credit markets. It is upping it
mortgage market interventions massively, and adding to it the purchase of
Treasury securities. If the balance sheet size was something that was keeping
you up at night, you haven't seen nothing yet! Treasurys yields plummeting;
10-year yeild down to 2.66%. DJIA up 61.



2:20 (Dow Jones) In an effort to continue propping credit markets the Fed has
announced it will buy Treasurys and Agencies.



2:19 (Dow Jones) The FOMC says they will buy Treasurys, against expectations.
This is a big surprise and will have a large impact on the bond market. DJIA
shoots higher, now up 25.



2:13 (Dow Jones) The phenomenal growth of Facebook has so far likely helped
Google (GOOG) gain market share, RBC Capital Markets says. But firm warns that
could change if Facebook's rapid growth trajectory continues and it finds a
business model that sucks ad dollars away from other online media. "We think
Facebook as the 'starting point' for more and more users on the Internet could
create some multiple compression for Google over time, if the momentum
continues," firm says. GOOG down 1% to $332.12.



2:09 (Dow Jones) Investors should buy into any weakness that Hot Topic (HOTT)
may experience now that Wal-Mart (WMT) plans at week's end to roll out its own
merchandise related to the teen vampire movie "Twilight," which HOTT has been
selling for sometime, FBR said. That's because HOTT's March and April comps
will still benefit from "Twilight" sales, even if WMT does take some business
away. HOTT up 0.4% to $9.51.



2:02 (Dow Jones) The outcome of the FOMC meeting lies dead ahead and there's
really only one source of drama. While no one expects the Fed to annouce the
purchase of longer-term Treasurys, the last two statements have discussed the
ongoing study of the issue. Whether the Fed repeats that or not could offer
clues about whether in fact this will happen at some point. Another mention
keeps the idea alive, while an ommission may mean it's off the table.
Otherwise, look for the Fed to be downbeat on growth, worried inflation is too
soft and keeping interest rates pinned effectively at zero.



1:52 (Dow Jones) Nasdaq Comp and S&P 500 have turned higher, and the DJIA is
down but a fraction, as the FOMC statement nears and Congress grills AIG's
Liddy. Financials again lead rising sectors; energy, consumer staples lead
decliners. Frankly, we'll get interested in Congressional hearings when members
of Congress are sitting in the low seats, answering the questions instead of
asking them. Freddie Mac discloses apparently mandated bonuses it has to pay
its executives. Does anybody understand a bonus is supposed to be a reward for
a job well done? Apparently not. DJIA down 29, S&P 500 up 2, Nasdaq Comp up 13.



1:41 (Dow Jones) Canada has received lavish global praise for its sound
financial system, yet amid all the back-patting is the rather uncomfortable
fact that its economic indicators are now deteriorating nearly as quickly as
their US counterparts, Doug Porter, deputy chief economist at BMO Capital
Markets, says. Contributing to the decline are three particular vulnerabilities
for Canada: a heavy reliance on auto production, a heavy reliance on
commodities and the fact that the recent construction boom is starting to
correct, he says. "These three factors help explain why there will be precious
little separation between the Canadian and US economies either during this
year's deep downturn or next year's shallow recovery," Porter says.



1:33 (Dow Jones) ProLogis (PLD) up sharply, possibly on a report from The
REIT Newshound saying Stockbridge Capital Partners and Teacher Retirement
System of Texas are positioning to buy a "sizable" portfolio of US assets from
ProLogis. A ProLogis representative wasn't immediately available to comment on
the report, which cited unnamed sources. The Newshound quoted the company's
director of investor relations as declining to comment, but noted PLD has said
it was marketing assets that could generate $500M-$600M in proceeds. PLD up
9.8% to $7.03.



1:25 (Dow Jones) Sanford Bernstein cuts price target for Edison International
(EIX) to $36 from $39, based on EIX's 2009 EPS forecast filed late Monday of
$2.90-$3.20; Bernstein sees 2009 EPS at $3.11. They note EIX's projected 13%
rate-base growth at utility Southern California Edison is lower than expected;
see 2010 EPS at $3.69, 2011 at $4.14; and predicts EIX's $20.4B capex plans for
2009-2013 will likely come in 4% lower due to transmission project permitting
delays. EIX down 2.8% at $27.51.

Breaking News: The Fed Leaves Both Rates Unchanged and to Buy Treasurys!

The FOMC says they will buy Treasurys up to $ 300B over the next six months, against expectations. This is a big surprise and will have a large impact on the bond market.

Wednesday, March 18, 2009

Dollar Falls Versus Euro And Yen Ahead FOMC

The dollar sold off against the euro and yen Wednesday
morning, with the euro extending earlier gains above $1.3150, ahead of the
Federal Open Market Committee meeting decision.



Traders appear to be getting rid of dollars ahead of the Fed announcement,
expected at 2.15 p.m. EDT Wednesday, and after the release of U.S. data that
didn't disappoint, an encouraging factor lately.



The euro rose to a fresh 7-week high of $1.3157.



The dollar also declined to a session low of Y97.73.



"It does suggest a degree of pent up demand to get rid of the dollar," said
Stuart Bennett, a senior currency strategist at Calyon in London.



Now above the $1.30 level, the euro is also benefitting from some technical
positioning. Traders likely set up trades to sell and buy above this key level.



Wednesday morning in New York, the euro was at $1.3128 from $1.3009 late
Tuesday, and the dollar was at Y97.96 from Y98.54, according to EBS. The euro
was at Y128.55 from Y128.17. The U.K. pound was at $1.3998 from $1.4041, and
the dollar was at 1.1658 Swiss francs from CHF1.1828 Tuesday.



The euro's gains escalated on the heels of an early morning advance after the
Labor Department reported U.S. consumer prices increased for a second-straight
month in February, raising the odds that the U.S. will avoid a protracted
deflationary spiral.



"Anything that indicates deflation is not around the corner is probably a
positive for markets in general, helping risk appetite," said Vassili
Serebriakov, a currency analyst at Wells Fargo.



Traders typically sell the dollar, a major funding currency, when risk
appetite rises.



The euro was already gaining after a U.K. jobs report boosted the common
currency versus the U.K. pound, gains that had cross-currency repercussions on
the dollar.



The Office for National Statistics said the U.K. jobless claimant count
jumped 138,400 in February, the biggest monthly gain since records began in
1971 and pushing unemployment above 2 million for the first time in almost 12
years.



The U.K. pound also fell because of an International Monetary Fund report
that concludes the U.K. recession will be longer and deeper than anticipated.



The IMF is expected to report later this week that the U.K. economy is set to
continue to contract well into 2010, according to the U.K. daily newspaper The
Times.



Teresa Ter-Minassian, an adviser to IMF Managing Director Dominique
Strauss-Kahn, told reporters Tuesday that the IMF now expects the U.K. economy
to contract 0.2% in 2010 after shrinking an expected 3.8% this year.



The euro rose as high as GBP0.9416.

"The real theme of March is those currencies that have been moving toward
some form of zero interest rate, or quantitative easing, have been under
significant pressure," said Jim McCormick, global head of currency strategy at
Citigroup in London, citing the U.K. pound, Swiss franc and dollar.


In addition, the dollar appears under increasing pressure this month as risk
appetite rebounds.


"This will depend importantly on what the Federal Reserve has to say...,"
said McCormick.

Sierra Leone President Vows Crackdown After Clashes

FREETOWN, Sierra Leone (AFP)--Sierra Leone's President Ernest Koroma
Wednesday warned of a crackdown on anyone involved in violent clashes between
rival political parties that have rocked the nation over the last week.



"Anyone who perpetrates acts of violence and lawlessness in any part of the
country regardless of political affiliation will be apprehended and face the
full force of law," Koroma said in a speech broadcast nationwide.



It was the first time Koroma had addressed the violence which flared up
between supporters of his All People's Congress (APC) and the main opposition
Sierra Leone People's Party (SLPP).



Hospital sources said around 20 people were wounded and six women said they
were raped in clashes Monday in the capital Freetown. Violence also occurred in
other parts of the country last week.



"I cannot stand by while ill-motivated people drag this country once more
towards a state of anarchy," said Koroma.



Sierra Leone is struggling to recover from the brutal 1991-2001 civil was
which saw some 120,000 people killed and thousands mutilated and raped by rival
forces.

Sierra Leone President Vows Crackdown After Clashes

FREETOWN, Sierra Leone (AFP)--Sierra Leone's President Ernest Koroma
Wednesday warned of a crackdown on anyone involved in violent clashes between
rival political parties that have rocked the nation over the last week.



"Anyone who perpetrates acts of violence and lawlessness in any part of the
country regardless of political affiliation will be apprehended and face the
full force of law," Koroma said in a speech broadcast nationwide.



It was the first time Koroma had addressed the violence which flared up
between supporters of his All People's Congress (APC) and the main opposition
Sierra Leone People's Party (SLPP).



Hospital sources said around 20 people were wounded and six women said they
were raped in clashes Monday in the capital Freetown. Violence also occurred in
other parts of the country last week.



"I cannot stand by while ill-motivated people drag this country once more
towards a state of anarchy," said Koroma.



Sierra Leone is struggling to recover from the brutal 1991-2001 civil was
which saw some 120,000 people killed and thousands mutilated and raped by rival
forces.

US To Sign UN Measure Decriminalizing Homosexuality-Officials

The U.S. is to announce its intention to sign a U.N.
declaration decriminalizing homosexuality, a move refused by former President
George W. Bush.



The administration of President Barack Obama is to notify France, which
sponsored the declaration, that the U.S. intends to endorse it, three officials
said.



The measure, put forth in December, was backed by dozens of Western countries
but opposed by several Arab countries and the Vatican.

Stocks Decline At Opening Bell

Dow Industrials Slide 70 Points



U.S. stocks pulled back after the previous day's rally, as investors awaited
the outcome of a two-day Federal Reserve meeting.



The Dow Jones Industrial Average was down 51 points. The S&P 500 declined
0.5% and the Nasdaq Composite Index fell 0.03%.



A surprising jump in housing starts last month helped drive stocks to the
fifth winning session in six Tuesday. The Dow industrials rallied by 178.73
points, leaving the blue-chip gauge 13% above the bear-market lows it hit on
March 9. Major indexes are at their highest levels in a month.



The Federal Reserve will conclude a two-day meeting Wednesday. The central
bank is expected to leave interest rates unchanged, but investors will be
parsing the Fed's post-meeting statement for any signals that its outlook has
changed or that it will take more measures to lubricate money markets. The Fed
had said in its last statement that it was prepared to purchase long-term
Treasurys if needed to improve credit conditions.



Most commentators expect that the Fed won't announce such steps Wednesday as
long-term interest rates remain low, which has driven down mortgage rates. Data
Wednesday from the Mortgage Bankers Association showed mortgage applications
rose 21% last week as the average 30-year fixed rate fell to 4.89%. But
economists expect the Fed will keep the possibility of such purchases open.



The Fed's statement is expected to be released around 2:15 p.m. EDT.



Treasurys were gaining in recent trading as stocks weakened; the yield on the
30-year bond was around 3.75%. In other economic news, consumer-price data were
released for February, showing a 0.4% increase and raising the odds that the
U.S. will avoid a protracted deflationary spiral.



Shares of Sun Microsystems jumped 65% after the Wall Street Journal reported
that International Business Machines is in talks to acquire the company. IBM is
likely to pay at least $6.5 billion in cash, or double Sun's closing price
Tuesday. IBM shares were down about 1.8%.



Most European stock markets fell. The pound dropped against the dollar after
a dismal report on U.K. employment. Asian indexes gained; the Nikkei 225 rose
0.7%. The Bank of Japan said that it will increase its purchases of government
debt and that it was considering providing loans to banks.

Friday, March 13, 2009

Pelempar Bush dihukum




Muntadar al-Zaidi melemparkan sepatunya ke arah George Bush




Seorang wartawan Irak yang dipahlawakan di Dunia Arab karena melemparkan sepatunya ke mantan Presiden AS George W Bush dipenjarakan tiga tahun.



Muntadar al-Zaidi menyatakan tidak bersalah dalam lanjutan sidang perkaranya di Baghdad.



Dia mengatakan: "Reaksi saya alamiah, seperti orang Irak mana pun."



Menghantam orang dengan sepatu adalah penghinaan serius bagi orang Arab. Zaidi bisa dipenjarakan 15 tahun atas serangan itu.



Bush yang mengadakan perjalanan perpisahan ke Irak bulan Desember, mengecilkan arti insiden tersebut.



Ketua tim pembela Zaidi, Dhiaa al-Saadi menggambarkan hukuman itu "berat dan tidak sejalan dengan hukum" dan mengatakan, dia akan mengajukan banding.



Laporan-laporan menyebutkan, Zaidi memekikkan "hidup Irak" saat vonis dibacakan.



Saudaranya, Ruqaiya dilaporkan menangis, dan berteriak "mampuslah Maliki, agen Amerika", mengacu ke perdana menteri Irak Nuri Maliki.



'Ciuman perpisahan'



Pembela meminta dakwaan digugurkan, dan menyatakan Bush tidak pernah benar-benar terancam.



Muntadar al-Zaidi bekerja sebagai wartawan televisi




Saat serangan di konferensi pers di Baghdad 15 Desember, Zaidi meneriaki Bsuh "anjing" dan sepatunya "ciuman perpisahan" dari mereka yang terbunuh, menjadi yatim atau janda di Irak.



Bush menghindar dari sepatu yang dilempar dan tampak tidak terusik dengan insiden tersebut, dan berkelakar tidak lama kemudiah bahwa dia tahu sepatu itu ukuran 10.



Zaidi ditahan sejak insiden tersebut. Tim pengacaranya mengatakan, dia dipukuli oleh petugas penjara, meski dia tampak sehat waktu hadir di pengadilan.



Aksi Zaidi dikutuk oleh pemerintah Irak yang menyatakan "memalukan", tapi dia disambut seperti pahlawan oleh beribu-ribu orang di seluruh dunia.

Madoff akui penipuan $50 miliar

Miliarder Amerika Bernard Madoff mengaku bersalah atas 11 butir dakwaan atas penipuan senilai 50 miliar dollar dan menyatakan dia menyesal.



Madoff mengatakan, dia "sangat menyesal dan malu" tidak lama setelah hakim memerintahkan agar dia dijebloskan ke penjara.



Madoff, 70 tahun, mengelola skema investasi Ponzi di mana investor awal dibayar dengan uang klien baru.



Sidang pengadilan mendengar penjelasan sebagian dari ribuan korban Madoff. Sedikintya 20 investor Madoff telah meminta diberi kesempatan untuk memberikan keterangan di pengadilan.



"Saya tidak mungkin bisa cukup menyatakan betapa menyesal saya atas yang perbuatan," kata Madoff di ruang sidang.



Dia mengatakan, ketika dia memulai penipuan, dia keliru berharap bahwa tindakan itu hanya akan berlangsung singkat.



"Saya menyadari bahwa penahanan saya dan hari ini pasti akan tiba," kata Madoff.

Sejak ditahan bulan Desember, Madoff terkurung di apartemennya yang mewah di Manhattan.



Vonis kasusnya akan diumumkan 16 Juni.



Pemutihan uang



Pernah menjadi bos pasar saham Nasdaq, Madoff menjadi tokoh Wall Street selama lebih dari 40 tahun.



Dia satu-satunya orang yang didakwa dalam penipuan besar-besaran yang melilit perusahaannya, Bernard L Madoff Investment Securities.



Jaksa mengatakan, penipuan itu berlangsung setidaknya sejak 1980-an, tapi Madoff mengatakan di pengadilan, penipuan mulai berlangsung awal 1990-an, sebagai reaksi atas resesi.



Madoff menghadapi 11 butir dakwaan, termasuk empat penipuan.



Di samping itu, dia menyatakan bersalah atas tiga dakwaan pemutihan uang, dan memberikan keterangan palsu, berbohong, dan menyerahkan laporan palsu kepada badan pengawas keuangan Amerika, dan pencurian dari dana tunjangan karyawan.



'Jenius'


Salah seorang korban Madoff, Burt Ross, mantan walikota Fort Lee, New Jersey town Fort Lee, mengatakan, dia memperkirakan dia tidak akan bisa mendapatkan kembali satu sen pun dari 5 juta dollar yang dia tanamkan.


"Bernard Madoff jenius" kata Ross. "Anda berhadapan dengan penipu yang mungkin terbesar dalam sejarah dunia."



Penyelidik mengatakan, mereka masih melanjutkan upaya untuk mendapatkan kembali seluruh dana yang dicuri Madoff, tapi kebanyakan pengulas - dan kebanyakan investor mengatakan, sangat tidak mungkin seluruh dana investasi akan ditemukan.



SKEMA PONZI

  • Skema investasi curang, investor dibayar dengan uang yang disetor investor lain, bukan laba riil


  • Diambil dari nama Charles Ponzi yang menggunakan teknik yang sama di AS pada 1920-an

  • Piramida dari teknik penjualan piramida, investoror menanamkan modal pada ornag yang sama

Ulasan pasar 13 Maret 2009

Euro rallied vs dollar and yen as U.S.
stocks surged, boosting risk-appetite and lowering safe-haven flows to dollar;
FX markets were also buffeted by Swiss National Banks' action to lower exchange
rate of CHF, including directly intervening in currency markets. SNB's adoption
of quantitative easing had immediate and, major effect on FX markets; "with
these exceptional measures, the SNB is helping to cushion the effects of the
economic and financial crisis, with the aim of limiting the risk of deflation,"
SNB said in statement; CHF fell hard on combination of SNB policy announcement,
actual intervention in markets; SNB is 1st central bank with major currency to
intervene openly in FX markets in about 6 years. EUR scored biggest ever 1-day
gain vs CHF, while dollar also rose sharply. EUR/USD rose to 1.2936 - highest
level since Feb. 23, and against yen reached highest level since Jan. 8 of
126.40.





Late afternoon in New York, EUR/USD was 1.2924 vs 1.2854 late
Wednesday, USD/JPY 97.63 vs 97.27, EUR/JPY 126.20 from 125.10, GBP/USD 1.3955
vs 1.3884, USD/CHF 1.1844 vs 1.1522. Stocks rose for 3rd straight day as
comments from Bank of America's CEO, gains in General Electric helped; Bank of
America rose 19% after CEO Ken Lewis said bank will not need further federal
government capital, will post a profit in 2009. Citigroup +8.4%, JPMorgan Chase
+14%. GE rose 13% despite S&P downgrading credit rating 1 notch as company said
downgrade shouldn't significantly affect operations or its funding; Dow +3.5%,
Nasdaq +4%.




Treasurys rose after an especially strong reopening of 30-year
Treasurys though pared some gains due to stronger stocks; 2-year yield down
0.8% at 1.01%, 10-year down 4 bp at 2.87%. Nymex April crude rose $4.70 to
$47.03/bbl in another volatile session as market fretted over outcome of
upcoming meeting of the OPEC cartel. Comex April gold gained $13.30 to $924/oz
as buyers swooped in after SNB's action, plus on bargain hunting, short
covering and chart-based buying. (SHN)

Breaking News: Bill Gates Kembali Menjadi Orang Terkaya di Dunia!

Krisis keuangan dunia telah menghempas 332 nama miliuner dari daftar orang terkaya dunia versi majalah Forbes.



Kini tersisa hanya 793 orang saja yang namanya layak dimasukkan dalam daftar, itupun rata-rata mereka juga telah kehilangan 23% kekayaannya.



Namun rupanya runtuhnya pasar saham dunia justru mengembalikan pendiri Microsoft, Bill Gates, pada posisi pertama, walaupun kekayaannya menurun sekitar US$ 18 miliar, menjadi hanya US$40 miliar.



Dia berhasil mengalahkan investor Warren Buffet, yang kekayaannya berkurang US$ 25 miliar, menjadi US$ 37 miliar.



Tahun 2008 lalu, Buffet sempat mengalahkan Bill Gates yang bertengger di posisi pertama selama 13 tahun.



Semua itu berkat saham perusahaannya, Berkshire Hathaway, ludes terjual dengan harga US$ 150 ribu per lembarnya, tepat sebelum Forbes menyusun daftar orang super kaya 2008.



Namun kini dia tidak bisa terhindar dari krisis keuangan yang turut menjatuhkan harga saham Berkshire Hathaway hingga 50% dalam 12 bulan terakhir ini.





Perbandingan miliuner 2008/2009


Jumlah : 793 (2009)/1,125 (2008)

Nilai kekayaan : US$ 2.4 triliun (2008)/US$ 4.4 triliun (2008)

Usia : 63.7 (2009)/61 (2008)





Kebangkrutan

Selain itu, pengusaha India, Anil Ambani kini juga tercatat kehilangan peruntungannya dengan terjun bebas dari peringkat 6 pada tahun lalu ke peringkat 34.



Hal ini seiring dengan anjloknya nilai kekayaan Anil sebesar US$ 31,9 miliar dan dalam waktu 12 bulan ini hanya tersisa US$ 10,1 miliar.



Menurunnya tingkat kemakmuran ekonomi dunia tahun ini mengharuskan Forbes menurunkan batasan nilai kekayaan 20 peringkat teratas menjadi US$ 14 miliar ---Tahun 2008 batasan nilainya US$ 21 miliar.



Setahun terakhir ini saja menurut Forbes, hanya terdapat 44 orang yang tercatat nilai kekayaannya meningkat, sementara 656 lainnya bangkrut.



Walikota New York Michael Bloomberg, misalnya, adalah satu-satunya orang di peringkat 20 teratas yang tercatat meningkat kekayaannya.



Kekayaannya meningkat US$ 4.5 miliar seiring adanya evaluasi pada data keuangan perusahannya, Bloomberg LP.

Swiss Central Bank Intervened To Halt Franc Rise

Faced with a deepening recession and deflation, the Swiss National Bank
intervened directly in foreign exchange markets Thursday to prevent the Swiss
franc from rising further.



The central bank's adoption of quantitative easing had an immediate and major
effect on foreign exchange markets, although the cut in its three-months Libor
target to a historical low of 0.25% from 0.5% was deemed a largely symbolic.



"With these exceptional measures, the SNB is helping to cushion the effects
of the economic and financial crisis, with the aim of limiting the risk of
deflation," the SNB said in a statement.



The franc fell hard on a combination of the SNB policy announcement and
actual intervention in markets. The franc's most important rival, the euro,
scored its biggest one-day gain ever against its Swiss counterpart, while the
dollar also rose sharply.



The Swiss bank is the first central bank with a major currency to intervene
openly in foreign exchange markets in about six years.



In addition to directly selling francs and lowering the fluctuation band for
the three-month Swiss franc London interbank offered rate, it also said it will
engage in additional repo operations and buy Swiss franc bonds issued by
private sector borrowers. The Swiss National Bank said it expects prices to
contract 0.5% in 2009.



The SNB thereby joined the ranks of major central banks such as the Federal
Reserve and Bank of England that have adopted unconventional steps to deal with
the global credit crunch and economic downtown, a further indication of just
how serious the situation has become.



The franc has been appreciating against a number of currencies on its status
as a haven asset since the onset of the financial crisis in August 2007 - a
move that gained momentum last December.



For Switzerland, which depends heavily on exports for growth, the franc's
appreciation undermines the competitiveness of Swiss companies at a time when
they are already faced with a slowdown in global growth.



The move had broad implications on the foreign exchange market, leaving few
widely traded currencies unaffected.



The SNB decision also shifted attention to the Bank of Japan, which is facing
similar problems with deflation and a strong currency. Given its earlier
history of active operations to stem yen appreciation, traders are now on the
alert for the possibility of BOJ intervention. In response, the yen fell to
session lows against the euro and dollar after the SNB's announcement.



However, the resumption of intervention by the Swiss National Bank or even
the Bank Of Japan doesn't necessarily signal a wave of central bank actions to
depreciate currencies. Emerging markets as diverse as Mexico, South Korea,
Russia and Hungary have all taken measures to stem the fall of their
currencies.



Central and Eastern European currencies that have been under pressure for
months also benefitted from the Swiss central bank's intervention. By selling
francs, the SNB added more liquidity into the system and eased funding
pressures that have been plaguing the currencies of Poland and Hungary in
particular for months.



The zloty and forint rallied against the euro in response. The forint should
also find support after the National Bank of Hungary announced it will start
converting the net current and capital transfers from the European Union on the
foreign exchange market. The Ministry of Finance expects around EUR2.4 billion
to be converted in 2009.



A large portion of the loans taken out in Poland and Hungary were denominated
in Swiss francs due to the country's traditionally low interest rate. But as
local currencies declined in the wake of the global crisis over the last year,
the prospect of repaying these loans turned into a major cause of concern. The
potential impact on the broader economy manifested itself in a selloff of local
currencies.



Late in New York, the euro surged in a late-day rally against the dollar and
yen as it became clear that U.S. stocks would achieve a third consecutive day
of gains. The building advance in equities removed some of the uncertainty
surrounding recent gains, and supports the idea that the U.S. economy may have
hit its bottom point.



As a result, traders sold off what are considered safer currencies, the
dollar and yen, and bought the euro.



The euro rose to $1.2936, its highest level since Feb. 23. It also advanced
to its highest level against the yen since Jan 8, Y126.40. Late afternoon in
New York, the euro was at $1.2924 from $1.2854 late Wednesday, and the dollar
was at Y97.63 from Y97.27, according to EBS. The euro was at Y126.20 from
Y125.10. The U.K. pound was at $1.3955 from $1.3884, and the dollar was at
CHF1.1844 from CHF1.1522 Wednesday.

Thursday, March 12, 2009

Monetary policy assessment of 12 March 2009

Swiss National Bank takes decisive action to forcefully relax
monetary conditions



The economic situation has deteriorated sharply since last December, and there is a risk of
negative inflation over the next three years. Decisive action is thus called for, to
forcefully relax monetary conditions. Against this background, the Swiss National Bank
(SNB) is making another interest rate cut and acting to prevent any further appreciation
of the Swiss franc against the euro. To this end, it will increase liquidity substantially by
engaging in additional repo operations, buying Swiss franc bonds issued by private sector
borrowers and purchasing foreign currency on the foreign exchange markets.


The SNB is lowering the target range for the three-month Libor by 25 basis points,
narrowing it to 0–0.75%, with immediate effect. It will use all means at its disposal to
gradually bring the Libor down to the lower end of the new target range, i.e. to
approximately 0.25%. Thus, the Libor now has a narrower target range of 75 basis points,
compared with 100 previously.


With these exceptional measures, the SNB is helping to cushion the effects of the
economic and financial crisis, with the aim of limiting the risk of deflation. The SNB has a
mandate to ensure price stability, while taking economic developments into account. This
objective encompasses the prevention of both deflation and inflation. In carrying out its
mandate, the National Bank will – as it has in the past – base its decisions on an inflation
forecast.


The fourth quarter of 2008 saw a sharp slowdown in the world economy, which affected all
countries simultaneously. There is every reason to believe that the deterioration has
continued over the past two months. The Swiss economy is being hit hard by these
developments, and they are affecting nearly all sectors of the economy. The export
industry is bearing the brunt, however. As a result, the SNB is revising its GDP growth
forecast downwards for the year under review. It now expects real GDP to fall by between
2.5% and 3%.



The rapid deterioration in the economic situation and the decline in commodity prices
have also led to a clear downward revision of the inflation forecast. Average annual
inflation will amount to –0.5% in 2009. With the measures decided today, the SNB is
forecasting average annual inflation for the following two years of virtually zero.


This inflation outlook calls for decisive action on the part of the SNB. By once again
lowering the three-month Libor target range and acting to prevent any further
appreciation of the Swiss franc against the euro, the SNB is seeking to counter the risk of
deflation and of a dramatic deterioration in the economy.


Global economic outlook

Economic activity has declined sharply in the U.S., where consumption and exports have
plummeted. The European economy has also undergone a significant contraction. The
Asian economies, far from remaining unscathed by these developments, have also been
heavily affected. The crisis that started in the financial markets of developed countries
has spilled over to the real economy and is now impacting on the entire global economy.
Against this background, the SNB has made a substantial downward revision to its growth
forecasts for the major economies in 2009.


Swiss economic outlook

In Switzerland too, the economic situation has experienced a clear and rapid deterioration
over the last six months. In the fourth quarter of 2008, real GDP dropped by 1.2% in
annualised terms. While the contraction in economic activity appeared to be less
pronounced in Switzerland than in the major European countries, this figure nevertheless
obscures the extent of the collapse in global demand, in particular in the manufacturing
industry, with the concomitant sharp drop in exports. Expenditure on equipment
investment was cut significantly. Construction investment also saw negative growth,
resulting in a significant decline in final demand.


The magnitude of the contraction in demand in the fourth quarter of 2008 was
unexpected. The result was an involuntary swelling of inventories, which contributed
artificially to growth in GDP. This phenomenon is likely to reverse in the first quarter of
this year. Consequently, the SNB expects an increased contraction in GDP in early 2009.


Unemployment has begun to grow again since September 2008, a trend that will continue
in the months ahead. The resulting climate of uncertainty will prompt households to
exercise more caution and will lead to a slowdown in consumer spending. In addition,
weak global demand is likely to weigh on Swiss exports, which will force companies to
defer or reconsider their investment plans. By contrast, favourable financing conditions
will probably continue to support investment in residential construction. Moreover, public
spending will play a countercyclical role. Due to the deepening of the global recession,
the SNB is now forecasting a contraction in GDP of between 2.5% and 3% for this year.



Changes in monetary and financial conditions

The SNB lowered the Libor target range decisively by 225 basis points over the course of
the fourth quarter of last year. This monetary policy impetus will continue to feed through
progressively to the economy. Short-term interest rates have dropped, and the interest
rate curve has steepened. However, capital market risk premia have risen substantially
since the collapse of Lehman Brothers, hampering the transmission of monetary policy
stimuli. This is prompting the SNB to purchase Swiss franc bonds issued by private sector
borrowers in order to bring about a relaxation of conditions on the capital markets.


The value of the Swiss franc has increased substantially since the beginning of the
financial crisis in August 2007. This currency development has gained momentum since
the National Bank's last assessment in December. Under the present circumstances, this
represents an inappropriate tightening of monetary conditions. In view of this
development, the SNB has decided to purchase foreign currency on the foreign exchange
market, to prevent any further appreciation of the Swiss franc against the euro.


While M1 and M2 are registering strong growth rates, that of M3 remains moderate. In
contrast, the monetary base almost doubled in one year. This development reflected the
SNB’s efforts to provide the interbank market with sufficient liquidity – as a response to
the huge increase in the demand for liquidity brought about by the prevailing climate of
uncertainty. If this demand had not been satisfied, the result would have been an
undesirable rise in interest rates.


Since the beginning of 2008, the SNB has been conducting a qualitative survey with
twenty banks which make up the bulk of the domestic loan market. The survey carried out
in January 2009 shows that some banks have tightened their lending conditions slightly.
Moreover, a growing number of banks are expecting to do so in the near future. While the
statistics confirm lower growth in overall lending, they do not show an actual decline.
Mortgage lending has remained unaffected by this development. The rate of growth in this
area has risen since November, reaching 3.8% in January. It is too soon to tell whether
this is an effect linked to the lowering of the three-month Libor, as has been observed in
the past. By contrast, the growth rate in other loans has dropped sharply. It stood at
5.8% in January, compared with 20% a year earlier. In this category, lending is strongly
cyclical and related to developments in the economy. The other loans, therefore, should
decline in the near future. Overall, developments on the Swiss lending market have not
followed the pattern observed abroad.


Inflation and inflation risks

After reaching a peak of 3.1% last July, inflation dropped back to 0.2% in February. This
is attributable to the spectacular drop in the oil price from USD 145 to around USD 40 a
barrel during the same period, as well as the appreciation of the Swiss franc. Inflation will
continue to fall and will enter negative territory in the course of 2009. This is due to the
prices of imported goods and services, in particular oil. They will be lower this year compared with last year’s elevated levels. By contrast, inflation in domestic goods and
services, despite weakening during the year, will remain positive in 2009.


For 2010 and 2011, inflation will remain very close to zero, because output will be below
potential and unemployment will be high. Should the economy deteriorate more severely
than expected, there would be a risk of negative inflation.


Monetary policy decision

A prolonged period of negative inflation is not compatible with the objective of
maintaining medium-term price stability. Any tightening of monetary conditions is
inappropriate in this depressed environment. By once again lowering the three-month
Libor target range to 0–0.75%, by gradually bringing the Libor down to the lower end of
this range, i.e. to around 0.25%, and by acting to prevent a further appreciation of the
Swiss franc against the euro, the SNB is pursuing its expansionary monetary policy in
order to support economic activity and limit the risk of deflation. The temporary
narrowing of the Libor target range, which now stands at 75 basis points compared with
the usual 100 basis points, is due to the fact that a negative Libor is not technically
possible.


Swiss Franc Dives On Intervention

The Swiss franc fell sharply against the dollar and euro Thursday after the Swiss National Bank implemented extraordinary measures to curtail further appreciation of its currency.



The SNB thereby joined the ranks of major central banks such as the Federal
Reserve and Bank of England that have adopted unconventional steps to deal with
the global credit crunch and economic downtown - a further indication of just
how serious the situation has become.



The SNB lowered the fluctuation band for the three-month Swiss franc London
interbank offered rate to 0%-0.75%. It said it will engage in additional repo
operations, buy Swiss franc bonds issued by private sector borrowers and
purchase foreign currency on the foreign exchange markets to increase liquidity
in an effort to fend off deflation.



The SNB said it expects prices to contract 0.5% in 2009. In late January, SNB
Vice President Philipp Hildebrand made it clear the SNB would do whatever it
took to prevent deflation. The central bank also wouldn't shy away from
unconventional steps, he said.



The Swiss central bank has now made good on its promise, taking measures
regarded as appropriate to defend a small, open economy.



Traders confirmed that the SNB had intervened in markets Thursday morning.
It is the first major Group of 10 central bank to intervene openly in currency
markets in about six years.



The move had broad implications on the foreign exchange market, leaving few
widely traded currencies unaffected. The euro and dollar advanced to their
highest levels this year against the Swiss franc as Europe's single currency
scored its biggest single-session advance in its history.



The SNB's actions also led to a decline in the Japanese yen against the
dollar and euro, as well as a rally for European emerging market currencies.



The franc has been gaining against the dollar and euro since late last year
as a safe haven asset.



The announcement caused "a disturbance in markets across board," said
Geoffrey Yu, a currency strategist at UBS in London.



"This will be seen as competitive devaluation," said Yu, adding that by
setting a precedent, the SNB may be tempting other central banks struggling
with similar issues.



"Then, we're going to see a lot of volatility in currency markets," he said.



So far, the euro has gained as high as CHF1.5305, its highest level since Dec
23, from CHF1.4843 before the announcement. The dollar has gained as high as
CHF1.1969, its highest level since Dec 11, from CHF1.1571 before the
announcement.



"With the SNB's deep pockets, this should be the beginning of further losses
in the Swiss franc," said Kathy Lien, director of currency research at GFT.



Eastern European currencies that have been under pressure for months also
benefitted from the SNB intervention. A cheaper franc eases pressures there.



"One of the pressures on Poland and Hungary derived from a serious currency
mismatch as many mortgages in recent years were denominated in Swiss francs,"
noted Marc Chandler, global head of foreign exchange at Brown Brothers Harriman
in New York. "The strength of the Swiss franc compounded their woes."



However, analysts including Chandler caution that this relief for East
European currencies is short term.



The SNB decision also shifted attention to the Bank of Japan, which is facing
similar problems with deflation and a strong currency.



The BOJ was the last major central bank to intervene in markets. Given its
earlier history of active operations to stem yen appreciation, traders are now
on the alert for the possibility of BOJ intervention. In response, the yen fell
to session lows against the euro and dollar after the SNB's announcement, with
the dollar reaching as high as Y98.53 and the euro peaking at Y125.60.



Around midday Thursday, the euro was at $1.2794 from $1.2854 late Wednesday,
and the dollar was at Y97.97 from Y97.27, according to EBS. The euro was at
Y125.32 from Y125.10. The U.K. pound was at $1.3818 from $1.3884, and the
dollar was at CHF1.1905 from CHF1.1522 Wednesday.

Breaking News: CHF jumps more than 370 pts within 17 minutes only!

The Confederatio Helvetica Franc (CHF) jumps in the biggest movement due to the statement of SNB while cutting the Libor rate, saying that they began intervening the swissy to weaken it. Thus, the pair lost the most against the euro since the 16-nation currency debuted in 1999 and tumbled versus the dollar. Moving from 1.1590s into 1.1967 within 17 minutes only!

Friday, March 6, 2009

Ruqyah Syar'iyah

Muqaddimah



Kajian ini diperuntukkan bagi seluruh umat Islam, baik sebagai rooqi (yang meruqyah) maupun sebagai mustarqi (yang minta diruqyah). Sehingga diharapkan tidak terjadi penyimpangan dalam praktek ruqyah yang dilakukannya.




Dalam hal ini, umat diharapkan bisa bersikap proporsional dalam menyikapi jin dan aktifitasnya, sehingga tidak jatuh pada sikap berlebih-lebihan dan juga tidak jatuh pada sikap menafikan. Lebih dari itu, diharapkan bahwa terapi ruqyah yang dilakukan tidak keluar dari frame dakwah Islam. Karena sejatinya bahwa Ruqyah Syar’iyah merupakan bagian dari syumuliyah Islam yang dapat digunakan sebagai wasail dakwah.




Pengobatan ruqyah sebenarnya sudah ada semenjak masa Jahiliyah. Kemudian setelah ajaran Islam datang, Rasulullah shalallahu ‘alaihi wa sallam menetapkan ruqyah yang dibolehkan secara Syari’ah. Kemudian seiring dengan perkembangan di lapangan, maka pengobatan ini sekarang marak kembali, karena banyaknya masyarakat yang berinteraksi dengan jin, tukang sihir, dukun dan segala hal yang berbau misitik.




Pengobatan ruqyah kemudian meluas ke seluruh Jawa bahkan sekarang merambah ke luar Jawa. Sistem Pengobatan Ruqyah menjamur dimana-mana, bahkan masuk ke media televisi. Realitas ini tentu saja sangat menggembirakan, karena ada satu lagi sarana yang dapat digunakan untuk dakwah. Namun demikian, kondisi euforia ini jika tidak dikontrol dan dikendalikan akan mengarah pada penyimpangan-penyimpangan Syariah baik disadari ataupun tidak.



Ruqyah dan Kedudukannya dalam Islam




Ruqyah adalah sebuah terapi dengan membacakan jampi-jampi. Sedangkan Ruqyah Syar’iyah yaitu sebuah terapi syar’i dengan cara membacakan ayat-ayat suci Al-Qur’an dan do’a-do’a perlindungan yang bersumber dari sunnah Rasul shalallahu ‘alaihi wa sallam. Ruqyah syar’iyah dilakukan oleh seorang muslim, baik untuk tujuan penjagaan dan perlindungan diri sendiri atau orang lain, dari pengaruh buruk pandangan mata manusia dan jin (al-ain) kesurupan, pengaruh sihir, gangguan kejiwaan, dan berbagai penyakit fisik dan hati. Ruqyah juga bertujuan untuk melakukan terapi pengobatan dan penyembuhan bagi orang yang terkena salah satu diantara jenis-jenis gangguan dan penyakit tersebut.




Ruqyah adalah terapi atau pengobatan yang sudah ada di masa jahiliyah. Dan ketika Muhammad shalallahu ‘alaihi wa sallam diutus menjadi Rasulullah, maka ditetapkanlah Ruqyah yang dibolehkan dalam Islam. Allah menurunkan surat al-Falaq dan An-Naas salah satu fungsinya sebagai pencegahan dan terapi bagi orang beriman yang terkena sihir. Diriwayatkan oleh ‘Aisyah bahwa Rasulullah shalallahu ‘alaihi wa sallam senantiasa membaca kedua surat tersebut dan meniupkannya pada kedua telapak tangannya, mengusapkan pada kepala dan wajah dan anggota badannya. Dari Abu Said bahwa Rasulullah shalallahu ‘alaihi wa sallam dahulu senantiasa berlindung dari pengaruh mata jin dan manusia, ketika turun dua surat tersebut, maka mengganti dengan keduanya dan meninggalkan yang lainnya” (HR At-Tirmidzi).




Berkata Ibnu Hajar al-Atsqalani dalam Fathul Bari (10/70),” Pengobatan cara nabi tidak diragukan kemampuan menyembuhkannya karena datang dari wahyu”. Berkata Ibnul Qoyyim dalam kitab as-Shahihul Burhan, “Al-Qur’an adalah tempat kesembuhan yang sempurna dari semua penyakit hati dan semua penyakit dunia dan akhirat. Jika Allah tidak menyembuhkan anda dengan al-Qur’an, maka Allah tidak akan menyembuhkan anda dengan yang lainnya”.




Sedangkan yang terkait langsung dengan landasan ruqyah disebutkan dalam beberapa hadits, di antaranya:



وعن أبي سعيد الخدري رضي اللّه عنه قال: "كنّا في مسير لنا فنـزلنا، فجاءت جارية فقالت: إنَّ سيّد الحي سليم (أي لديغ) وإنَّ نفرنا غُيَّب فهل منكم راق؟ فقام معها رجل ما كنا نأبنه (ما كنا نأبنه: أي نعيبه أو نتهمه) برقيه، فرقاه فبرأ، فأمر له بثلاثين شاة، وسقانا لبناً، فلما رجع قلنا له: أكنت تحسن؟ أو كنت ترقي؟ قال: لا، ما رقيتُ إلاّ بأم الكتاب، قلنا: لا تحدثوا شيئاً حتى نأتي أو نسأل رسول اللّه صلى اللّه عليه وسلم فلما قدمنا المدينة ذكرناه للنبي صلى اللّه عليه وسلم فقال: "وما كان يدريه أنها رُقْية؟ إقسموا واضربوا لي بسهم" (رواه البخاري ومسلم (



Dari Abu Said al-Khudri ra berkata, “ Ketika kami sedang dalam suatu perjalanan, kami singgah di suatu tempat. Datanglah seorang wanita dan berkata, “ Sesunggunhya pemimpin kami terkena sengatan, sedangkan sebagian kami sedang tidak ada. Apakah ada diantara kalian yang biasa meruqyah?” Maka bangunlah seoarng dari kami yang tidak diragukan kemampaunnya tentang ruqyah. Dia meruqyah dan sembuh. Kemudian dia diberi 30 ekor kambing dan kami mengambil susunya. Ketika peruqyah itu kembali, kami bertanya, ”Apakah Anda bisa? Apakah Anda meruqyah?“ Berkata, ”Tidak, saya tidak meruqyah kecuali dengan Al-Fatihah.” Kami berkata,“Jangan bicarakan apapun kecuali setelah kita mendatangi atau bertanya pada Rasulullah shalallahu ‘alaihi wa sallam. Ketika sampai di Madinah, kami ceritakan pada nabi shalallahu ‘alaihi wa sallam Dan beliau berkata, “ Tidakkah ada yang tahu bahwa itu adalah ruqyah? Bagilah (kambing itu) dan dan jadikan saya satu bagian.” (HR Bukhari dan Muslim)



عَنْ عَوْفِ بْنِ مَالِكٍ الأَشْجَعِيِّ قَالَ: كُنَّا نَرْقِي فِي الْجَاهِلِيَّةِ فَقُلْنَا: يَا رَسُولَ اللهِ كَيْفَ تَرَى فِي ذَلِكَ؟
فَقَالَ: "اعْرِضُوا علَيَّ رُقَاكُمْ، لاَ بَأْسَ بِالرُّقَى مَا لَمْ يَكُنْ فِيهِ شِرْكٌ".‏



Dari Auf bin Malik al-Asyja’i berkata, ”Dahulu kami meruqyah di masa jahiliyah, dan kami bertanya, “ Wahai Rasulullah bagaimana pendapatmu?” Rasulullah shalallahu ‘alaihi wa sallam bersabda, ”Perlihatkan padaku ruqyah kalian. Tidak apa-apa dengan ruqyah jika tidak ada syiriknya.” (HR Muslim)



أخبرنا مالك، أخبرنا يحيى بن سعيد، أخبرتني عَمْرة: أن أبا بكر دخل على عائشة رضي اللّه عنهما وهي تشتكي ، ويهودية تَرْقيها، فقال: ارقيها بكتاب اللّه.
قال محمد: وبهذا نأخذ. لا بأسَ بالرُّقى بما كان في القرآن، وما كان من ذكر اللّه، فأما ما كان لا يعرف من كلام فلا ينبغي أن يُرقَى به.



Dari Amrah, bahwa Abu Bakar masuk rumah ‘Aisyah ra. dan dia mengadu, sedangkan seorang wanita Yahudi sedang meruqyahnya. Abu Bakar berkata, ”Lakukanlah ruqyah dengan kitab Allah.” Berkata Muhammad bin Al-Hasan, ”Dengan ini kami berpendapat. Tidak apa-apa dengan ruqyah selagi memakai Al-Qur’an dan Dzikrullah. Sedangkan jika ruqyah dengan perkataan yang tidak dikenal, maka tidak boleh.”


Hukum Ruqyah




Para ulama berpendapat bahwa pada dasarnya ruqyah secara umum dilarang, kecuali ruqyah syariah. Rasulullah shalallahu ‘alaihi wa sallam bersabda :



إن الرقى والتمائم والتولة شرك



“Sesungguhnya ruqyah (mantera), tamimah (jimat) dan tiwalah (pelet) adalah kemusyrikan.” (HR Ahmad, Abu Dawud, Ibnu Majah dan Al-Hakim).



من تعلق شيئا وكل إليه


"Barangsiapa menggantungkan sesuatu, maka dirinya akan diserahkan kepadanya." (HR Ahmad, Tirmidzi, Abu Dawud dan Al-Hakim)



عن عِمْرَان قَالَ: قَالَ نَبِيّ اللّهِ -صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ- : يَدْخُلُ الْجَنَّةَ مِنْ أُمَّتِي سَبْعُونَ أَلْفاً بِغَيْرِ حِسَابٍ" قَالُوا: وَمَنْ هُمْ يَا رَسُولَ اللّهِ؟ قَالَ: "هُمُ الّذِينَ لاَ يَكْتَوُونَ، وَلاَ يَتَطَيَّرُونَ وَلاَ يَسْتَرْقُونَ وَعَلَى رَبّهِمْ يَتَوَكّلُونَ



Dari Imran berkata, Rasulullah shalallahu ‘alaihi wa sallam bersabda,” Akan masuk surga dari umatku 70 ribu dengan tanpa hisab”. Sahabat bertanya, “Siapa mereka wahai Rasulullah ?” Rasul shalallahu ‘alaihi wa sallam bersabda,” Mereka adalah orang yang tidak berobat dengan kay (besi), tidak minta diruqyah dan mereka bertawakkal pada Allah”. (HR Bukhari dan Muslim).




Para ulama banyak membicarakan hadits ini, diantaranya yang terkait dengan ruqyah. Ulama sepakat bahwa ruqyah secara umum dilarang, kecuali tidak ada unsur syiriknya. Dan mereka juga sepakat membolehkan ruqyah syar’iyah, yaitu membacakan al-Qur’an dan doa’do’a ma’tsurat lainnya untuk penjagaan dan menyembuhkan penyakit. Disebutkan dalam kitab Tuhfatul Ahwadzi syarh kitab Sunan at-Tirmidzi, integrasi dari hukum ruqyah adalah bahwa jika ruqyah dengan tidak menggunakan Asma Allah, sifat-sifat-Nya, firman-Nya dalam kitab-kitab suci, atau tidak menggunakan bahasa Arab dan menyakini bahwa itu bermanfaat, maka tidak diragukan lagi itu bagian dari bersandar pada ruqyah. Oleh karenannya itu dilarang. Dalam konteks inilah Rasulullah shalallahu ‘alaihi wa sallam menyebutkan dalam haditsnya:


ما توكل من استرقى


”Tidaklah bertawakkal orang yang minta diruqyah.” (HR At-Tirmidzi)



Adapun yang selain itu, seperti berlindung dengan Al-Qur’an, Asma Allah Ta’ala dan ruqyah yang telah diriwayatkan (dalam hadits), maka itu tidak dilarang. Dan dalam konteks ini Rasulullah shalallahu ‘alaihi wa sallam bersabda kepada orang yang meruqyah dengan Al-Qur’an dan mengambil upah :



من أخذ برقية باطل فقد أخذت برقية حق". وأما قوله عليه الصلاة والسلام: لا برقية إلا من عين أو حمة، فمعناه لا رقية أولى وأنفع منهما



”Orang mengambil ruqyah dengan batil, sedang saya mengambil ruqyah dengan benar.” (HR At-Tirmidzi)



Imam Hasan Al-Banna berkata, “Jimat, mantera, guna-guna, ramalan, perdukunan, penyingkapan perkara ghaib dan sejenisnya merupakan kemungkaran yang wajib diperangi, kecuali ruqyah (mantera) dari ayat-ayat Al-Qur’an atau ruqyah ma’tsurah (dari Rasulullah shalallahu ‘alaihi wa sallam).”



Praktek Ruqyah




Secara umum ruqyah terbagi menjadi dua, ruqyah sesuai dengan nilai-nilai Syariah dan ruqyah yang tidak sesuai dengan nilai-nilai Syariah.


Adapaun ruqyah sesuai Syari’ah harus sesuai dengan dhawabit syari’ah, yaitu:
1. Bacaan ruqyah berupa ayat-ayat al-Qur'an dan do’a atau wirid dari Rasulullah shalallahu ‘alaihi wa sallam
2. Do'a yang dibacakan jelas dan diketahui maknanya.
3. Berkeyakinan bahwa ruqyah tidak berpengaruh dengan sendirinya, tetapi dengan takdir Allah SWT.
4. Tidak isti'anah (minta tolong) kepada jin (atau yang lainnya selain Allah).
5. Tidak menggunakan benda-benda yang menimbulkan syubhat dan syirik.
6. Cara pengobatan harus sesuai dengan nilai-nilai Syari'ah, khususnya dalam penanganan pasien lawan jenis.
7. Orang yang melakukan terapi harus memiliki kebersihan aqidah, akhlak yang terpuji dan istiqomah dalam ibadah.



Sehingga ruqyah yang tidak sesuai dengan dhawabit atau kriteria di atas dapat dikatakan sebagai ruqyah yang tidak sesuai dengan Syari’ah.



Di bawah ini beberapa contoh ruqyah dan pengobatan yang tidak sesuai Syariah:
1. Memenuhi permintaan jin.
2. Ruqyah yang dibacakan oleh tukang sihir.
3. Bersandar hanya pada ruqyah, bukan pada Allah.
4. Mencampuradukan ayat-ayat Al-Qur’an dengan bacaan lain yang tidak diketahui artinya.
5. Meminta bantuan pada jin
6. Bersumpah kepada jin
7. Ruqyah dengan menggunakan sesajen
8. Ruqyah dengan menggunakan alat yang dapat mengarah ke syirik dan bid’ah
9. Memenjarakan jin dan menyiksanya.



Ruqyah Dzatiyah




Rasulullah shalallahu ‘alaihi wa sallam dalam berbagai kesempatan menyampaikan kepada para sahabatnya untuk melakukan ruqyah dzatiyah, yaitu seorang mukmin melakukan penjagaan terhadap diri sendiri dari berbagai macam gangguan jin dan sihir. Hal ini lebih utama dari meminta diruqyah orang lain. Dan pada dasarnya setiap orang beriman dapat melakukan ruqyah dzatiyah. Berkata Ibnu Taimiyah dalam Majmu’ Fatawa,” Sesungguhnya tauhid yang lurus dan benar yang dimiliki seorang muslim adalah senjata untuk mengusir syetan”.



Beberapa hadits di bawah adalah anjuran Rasulullah shalallahu ‘alaihi wa sallam kepada orang beriman untuk melakukan ruqyah dzatiyah



"من قرأ آية الكرسي في دبر الصلاة المكتوبة كان في ذمة الله إلى الصلاة الأخرى"


“Siapa yang membaca ayat Al-Kursi setelah shalat wajib, maka dalam perlindungan Allah sampai shalat berikutnya” (HR At-Tabrani).



عن عبد الله بن خُبَيْبٍ عن أَبيهِ قالَ: "خَرَجْنَا في لَيْلَةٍ مَطِيرَةٍ وظُلْمَةٍ شَدِيدَةٍ نَطْلُبُ رَسُولَ الله صلى الله عليه وسلم يُصَلّي لَنَا قالَ فأَدْرَكْتُهُ فقالَ: قُلْ. فَلَمْ أَقُلْ شَيْئاً. ثُمّ قالَ: قُلْ فَلَمْ أَقُلْ شَيْئاً. قالَ قُلْ فَقُلْتُ مَا أقُولُ قال قُلْ: قُلْ {هُوَ الله أَحَدٌ} وَالمُعَوّذَتَيْنِ حِينَ تُمْسِي وتُصْبِحُ ثَلاَثَ مَرّاتٍ تَكْفِيكَ مِنْ كُلّ شَيْء".



Dari Abdullah bin Khubaib dari bapaknya berkata, ”Kami keluar di suatu malam, kondisinya hujan dan sangat gelap, kami mencari Rasulullah shalallahu ‘alaihi wa sallam untuk mengimami kami, kemudian kami mendapatkannya.” Rasul shalallahu ‘alaihi wa sallam berkata,” Katakanlah”. “ Saya tidak berkata sedikitpun”. Kemudian berkata, “Katakanlah.” “Sayapun tidak berkata sepatahpun.” “Katakanlah, ”Saya berkata, ”Apa yang harus saya katakan?“ Rasul, ”Katakanlah, qulhuwallahu ahad dan al-mu’awidzatain ketika pagi dan sore tiga kali, niscaya cukup bagimu dari setiap gangguan.” (HR Abu Dawud, At-tirmidzi dan an-Nasa’i)



من قرأ آيتين من آخر سورة البقرة في ليلة كفتاه


“ Siapa yang membaca dua ayat dari akhir surat Al-Baqarah setiap malam, maka cukuplah baginya.” (Muttafaqun ‘alaihi)



مَنْ نَزَلَ مَنْزلاً ثُمَّ قالَ: أعُوذُ بِكَلِماتِ اللَّهِ التَّامَّاتِ مِنْ شَرّ مَا خَلَقَ، لَم يَضُرُّهُ شَيْءٌ حَتى يَرْتَحِلَ مِنْ مَنْزِلِهِ ذلكَ".‏


“Siapa yang turun di suatu tempat, kemudian berkata, ‘A’udzu bikalimaatillahit taammaati min syarri maa khalaq’, niscaya tidak ada yang mengganggunya sampai ia pergi dari tempat itu.” (HR Muslim)



Oleh karena itu bagi orang beriman harus senantiasa melakukan ruqyah dzatiyah dalam kesehariannya. Hal-hal yang harus dilakukan dengan ruqyah dzatiyah adalah:


1. Memperbanyak dzikir dan do’a yang ma’tsur dari Nabi SAW, khususnya setiap pagi, sore dan setelah selesai shalat wajib.
2. Membaca Al-Qur’an rutin setiap hari
3. Meningkatkan ibadah dan pendekatan diri dengan Allah.
4. Menjauhi tempat-tempat maksiat
5. Mengikuti majelis ta’lim dan duduk bersama orang-orang shalih.



Mengambil Upah dari Ruqyah




Para ulama sepakat membolehkan mengambil upah dari mengobati dengan cara ruqyah syar’iyah. Bahkan dalam hadits terkenal tentang para sahabat yang meruqyah kepala suku yang terkena bisa ular, Abu Sa’id Al-Khudri berkata, “ Saya tidak bersedia meruqyah sampai kalian memberiku upah”. Sehingga dalam kitab shahih Al-Bukhari, salah satunya memasukkan hadits ini dalam bab al-ijarah. Dalam ujung hadits Abu Said Rasulullah shalallahu ‘alaihi wa sallam bersabda:


إقسموا واضربوا لي بسهم


“Bagilah (upah itu), dan masukan aku dalam satu bagian.”



Sedangkan terkait dengan menjadikan pengobatan ruqyah sebagai usaha rutin dan tafarrugh, maka hukumnya sama dengan mengambil upah dari pengobatan yang lainnya. Hal ini karena pengobatan secara ruqyah membutuhkan waktu yang cukup dan dilakukan secara profesional. Begitu juga para peruqyah dituntut untuk senantiasa meningkatkan ilmu dan keikhlasan/ketaqwaannya.


Syekh Abdullah bin Baaz dalam kumpulan ceramah yang berjudul liqo-al ahibbah memfatwakan bolehnya tafarrugh dalam pengobatan ruqyah, beliau beralasan karena terkait dengan maslahat syar’iyat. Demikian juga fatwa syekh Muhammad bin Shalih al-Utsaimin dalam Liqo-ul qurra membolehkan tafarrugh dalam pengobatan ruqyah.


Namun demikian karena pengobatan ruqyah adalah bagian dari fardhu kifayah dan kebutuhan ummat, maka sebaiknya jangan dijadikan sarana komersial atau bisnis murni, demikian halnya dengan penyelenggaraan janaiz, khutbah, imam shalat, adzan dan iqomah, mengajarkan Al-Qur’an, bimbingan haji dll.



Kesimpulan


1. Ruqyah Syar’iyah mempunyal landasan dan dalil yang kuat dalam Islam
2. Pengobatan ruqyah syar’iyah hendaknya menjadi bagian dari dakwah Islam.
3. Dibolehkan mengambil upah dari pengobatan ruqyah syar’iyah. Sedangkan tafarrugh dalam hal ini diukur dari konteks kemashlahatan syar’iyah dan dakwah.
4. Pengobatan dilakukan sesuai dengan gejala penyakit pasien dengan tahapan sebagai berikut:
• Ruqyah Dzatiyah
• Memeriksakan ke dokter
• Jika Ruqyah dzatiyah dan terapi medis tidak berhasil, maka dapat diruqyah dengan bantuan orang lain.

Breaking News: US Jobless Rate Hit the Worst Since December 1983!

The U.S. economy continues to hemorrhage jobs at
monthly rates not seen in six decades, a government report showed, signaling
that there's still no end in sight to the severe recession that has already
cost the U.S. over four million jobs.



The report suggests that households, already seeing the value of their homes
and investments plunge, face added headwinds from the labor market, which could
put more pressure on consumer spending in coming months.



Nonfarm payrolls, which are calculated by a survey of companies, fell 651,000
in February, the U.S. Labor Department said Friday, in line with economist
expectations. However, December and January were revised to show much steeper
declines. In the case of December, the revision was to a drop of 681,000, the
most since 1949 when a huge strike affected half a million workers. However,
the labor force was smaller then than it is now.



The economy has shed 4.4 million jobs since the recession began in December
2007, with almost half of those losses occurring in the last three months
alone. And unemployment is lasting much longer. As of last month, 2.9 million
people were unemployed for 27 weeks or more, up from just 1.3 million at the
start of the recession.



"The sharp and widespread contraction in the labor market continued in
February," said Keith Hall, Commissioner of the Bureau of Labor Statistics.
Layoffs announcements continued last month across industries including Macy's
Inc. (M), Time Warner Cable Inc. (TWC), Estee Lauder Cos. (EL), Goodyear Tire &
Rubber Co. (GT) and General Motors Corp. (GM).



The unemployment rate, which is calculated using a survey of households,
jumped 0.5 percentage point to 8.1%, the highest since December 1983 and
slightly above expectations for an 8% rate. Some economists think it could hit
10% by the end of next year.



By some broader measures, labor-market conditions are already there. When
marginally attached and involuntary part-time workers are included, the rate of
unemployed or underemployed workers actually reached 14.8% last month, up
almost six percentage points from a year earlier.



Average hourly earnings increased a modest $0.03, or 0.2%, to $18.47. That
was up 3.6% from one year ago, as the recession has made it harder for workers
to bid up wages. According to the Fed's latest economic summary known as the
Beige Book, "a number of reports pointed to outright reductions in hourly
compensation costs."



That, in turn, could weigh further on consumer spending.



Friday's numbers suggest that the economy hasn't stabilized in the wake of
the fourth quarter's 6.2% slide in gross domestic product, which was the
steepest since 1982. Economists expect a decline of similar or even greater
magnitude this quarter.



"Consumers and businesses are likely to become even more cautious after a
bleak report such as this, and if they stop spending, the economy cannot get
going again," said Chris Rupkey, economist at Bank of Tokyo-Mitsubishi.



There's little Fed policymakers can do on the monetary policy side to stem
the slump, given that official rates are already near zero. But the Fed has
created a number of credit programs - financed through an expansion of its
balance sheet - aimed at spurring new lending. Officials this week unveiled a
long-awaited initiative aimed at stimulating consumer lending.



Ironically, some of the pressure on labor markets appears to be a byproduct
of robust productivity, which is actually a big plus for the economy over the
long run. But in the current environment, it seems to be making things worse
for workers as nimble businesses shed labor in anticipation of falling demand,
which could become a self-fulfilling prophesy.



Hiring last month in goods-producing industries fell by 276,000. Within this
group, manufacturing firms cut 168,000 jobs bringing the total since the
recession began to 1.3 million.



Construction employment was down 104,000 last month.



Service-sector employment tumbled 375,000. Business and professional services
companies shed 180,000 jobs, the fourth-straight six-figure loss, and
financial-sector payrolls were down 44,000.



Retail trade cut almost 40,000 jobs, while leisure and hospitality businesses
shed 33,000 as households curtail nonessential spending.



Temporary employment, a leading indicator of future job prospects, fell by
almost 80,000.



The sole bright spot among private sector industries was health care, which
tends to be more labor intensive and less productive than manufacturing and
other services. Health care payrolls rose 26,900.



The government added 9,000 jobs.



The average workweek was unchanged at 33.3 hours. A separate index of
aggregate weekly hours fell 0.7 point to 101.9.