Crude Oil Rise To $93.47 per Barrel

U.S. oil prices rose modestly Monday, boosted hopes that the controversy over the tax included in the depositors of the bank rescue Cyprus by the EU-IMF would be limited impact on the broader economy.

Benchmark U.S. light sweet crude or West Texas Intermediate (WTI) for delivery in April, rose 29 cents to settle at U.S. $ 93.74 per barrel on the New York Mercantile Exchange.

In London, Brent North Sea crude for delivery in May settled at 109.51 dollars, down 31 cents.

Crude oil prices spent most of the morning in negative territory as news of the bailout plan (bailout) Cyprus seeps through the market.

The euro zone finance ministers and the International Monetary Fund (IMF) on Saturday agreed on a bailout of 10 billion euros (13 billion dollars), but under the deal, the depositors in banks Cyprus may be taxed one time as much as 9.9 percent to help boost government coffers.

Oil and other financial markets moved sharply lower on fears that the controversy over the tax could spark new turmoil in the eurozone.

However, oil prices "rebound" (turned up) while EU officials hinted the tax could be modified to reduce the burden on small depositors, and as analysts concluded that Cyprus is not big enough to have a significant impact on the European and global economy.

"The market began to digest the fact that Cyprus is a very small part of the European economy," said Gene McGillian, broker and analyst at Tradition Energy.

Bill Baruch in iiTrader said the move was "concentrated" in Cyprus only and will not spread to other countries in Europe, as some had feared.

Carl Larry, a broker at Atlas Commodities LLC, said the U.S. oil benchmark outperformed the European oil benchmark for superior prospects for the U.S. economy.

"We have good prospects here in the U.S. for oil demand," said Larry.

9 Asia Pacific Super-Regional Banks

Research institute International Data Corporation (IDC) projected 9 banks in the category of super-regional Asia Pacific in 2013.

Unfortunately, there are no banks from Indonesia to enter the ranks of those.

Michael Araneta, Research Director, IDC Financial Insights Asia Pacific, said the nine banks in the super-region recorded an average return of 26% beyond its domestic market in 2012.

"The numbers are up from the 2010 average of 20%. Super-regional Asean targets we expect earnings from outside its domestic market by 60% in 2015," he told the Asian Financial Services Congress 2013, Thursday (02/28/2013).

Nine bank called IDC as a super-regional banks in the Asia Pacific region, namely ANZ, Maybank, DBS, CIMB, OCBC Bank, Commonwealth Bank, SMBC, Tokio Marine, and UOB.

"We also see the potential for the emergence of a new super-regional, such as ICBC, RHB, MSIG, Wespac, and NAB," said Araneta.

According to the IDC study, the bank managed to become super-regional allocate substantial funds for shopping information technology (IT). A total of 6 of 9 super-regional bank, added Araneta, plans to increase IT spending over 10% in 2013.

In addition, the super-regional banks also supported the initiative of the integrated helpdesk, centralized project management, virtualization, and centralized decision making.

On occasion, IDC Financial Insights also gives awards to a number of banks considered to meet the solution to the challenges of an increasingly dynamic financial sector. Than 130 financial institutions, some of the category was won by the super-regional bank.

Financial Insights Innovation Awards (FIIA) 2013 field of mobile payments innovation given to ANZ.

The 2013 award categories FIIA social innovation and customer experience of retail banking and corporate given to CIMB Bank and DBS Bank.