Thursday, September 10, 2009

Forex reserves decline to $14.243 billion

Staff Report KARACHI: The country's foreign exchange reserves have declined to $14.243 billion on the week ending on September 05 as compared with $14.307 billion last week, data released by the State Bank of Pakistan shows on Thursday.The overall reserves recorded a loss of $64 millions during the last week. The reserves held by the SBP witnessed a decrease of $52 million to reach $10.739 billion, compared with $10.791 billion last week. The reserves held by the banks other than SBP recorded a decline of $11 million to reach $3.504 billion as compared with $3.515 billion last week. The third tranche of the loan approved by the IMF recently had boosted the foreign exchange reserves of the country, but economists have criticized the approach of the government. They say that obtaining loans to increase reserves was not a good strategy. They add that government should try to increase reserves by boosting exports. They also say that reserves will start declining once again once the payments of these loans begin. By obtaining the loan in November 2008 Pakistan avoided a default on its obligations as it had to pay $500 million that it had borrowed by launching bonds a few years ago. However, government's continued reliance on IMF is not desirable, say the economists.

Monday, September 7, 2009

Forex Trading With a Focus on Volume

Forex trading you will discover that Forex market has several benefits over other capital markets. As well as amongst others; it has considerably low margins, free forex trading platforms, high leverage and round-the-clock trading options. It is like a computerized forex broker you can vouch on for correct math.

Computerized Currency Trading

The currency trading is over three trillion dollars a day moving around, making it the largest market in the world. Computerized or Automated currency trading is very much helpful for the comfort and security of a trader.

Forex Strategies - Unstable Trends

Trading in foreign exchange currencies is not a lot like trading with stocks or with futures trading. In situations when you are dealing with unstable trends, there are forex trading strategies that provide investors with beneficial plans which can help them avoid bigger risk thereby avoiding big loss and making better profits in the short run. Though there are countless forex trading strategies accessible to the investor, real time experience matters a lot.

Information About The Forex Indicators

There are lots of forex indicators out on the forex market, but for a few causes there are two eccentric but very powerful ones that a large number of traders every time look past. The % Bullish and Commitment of Traders Report are devices that can mark a few very important trends if you get the time to study them and place them in to excellent use.

Watching Signal Providers Can Be The Key To Success

Trading Signals are provided by the forex trading company. A signal chart provides with the valuable advice for the traders to have a better success in the trading. They are called as signal providers. Signal providers are the experienced traders who have been in the forex industry for quite a stretched amount of time and they are those who have made some substantial earnings with their approaches. These signal providers will contribute their valuable information about the price ranging from low to high. With their information you have to pick out the apt guidelines that go with your trade.

The Forex Scalping Strategy

Do you know about the forex scalping strategy? Lots of traders condemn this matter, others are very much concerned in it, and just a marginal group of traders is uninterested. Why is a forex scalping strategy so striking? Almost certainly people are concerned for the reason that forex scalping trading is one of few methods of fast improvement.

ICC World T20- Afridi's Kiss - Promo

Qatar Keen to Invest in Iran

Iran's Deputy Economic Affairs and Finance Minister Behrouz Alishiri met with Kamal on Monday and discussed ways to expand the two countries' economic and trade cooperation. During the meeting, the Qatari minister called for the setting up of Qatar's Bank in Iran, and added that Qtel which is among major telecommunication companies in the Middle East is eager to invest in Iran. Also during the meeting, the two sides stressed implementation of agreements singed between Tehran and Doha on customs and tax tariffs. The two sides also agreed about briefing Qatari investors on the investment opportunities in Iran during an upcoming meeting on Qatar's investment to be attended by Iran's state and private trade officials. Elsewhere, Alishiri discussed investment opportunities in the tourism sector in a meeting with head of Qatar's Tourism Organization Ahmad al-Naeimi. Alishiri said that establishment of a company for join ventures was proposed during the meeting with the Qatari tourism official. The Iranian official also pointed out that the two sides agreed to set up an exhibition of Iran's industrial and agricultural products in Qatar.

Iran, Venezuela swap $760 mln energy investments

Venezuela and Iran will each invest $760 million in the other's energy sectors under deals signed during a visit to Tehran by Venezuelan President Hugo Chavez, Iran's Oil Ministry website SHANA said on Monday.

It said state oil company Petroleos de Venezuela SA (PDVSA) would invest $760 million in the development of phase 12 of Iran's giant South Pars natural gas field in the Gulf.
"Based on the agreement, Iran also pledged to invest $760 million in the development of Venezuelan oil field Dobokubi as well as the development of Block 7 of the Ayacucho oil field," SHANA said.

Venezuela also pledged to export 20,000 barrels of gasoline per day to Iran to a total value of $800 million, the website said adding that the amount would be put in a fund that will be used to finance sales of machinery, technology and other services by Iran to Venezuela.
Iran is the world's fifth leading oil exporter but its refineries lack the capacity to meet domestic fuel demand, so it imports up to 40 percent of its gasoline. Iran imports an estimated 120,000 bpd per day of gasoline.

Tehran, in a face-off with the West over its nuclear programme, may face sanctions on its gasoline imports if a diplomatic solution is not found.

On Sunday, Chavez announced the plan to export gasoline to Iran. Iran's state television quoted him as saying the exports would start in October.

U.S. President Barack Obama has given Iran until later in September to take up an international offer of talks on trade if it shelves uranium enrichment, or face harsher punitive measures.

7 Ways to Stretch Your Retirement Income

Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever-expanding life spans, many Americans could see their money dry up before retirement ends.
Nearly three out of five middle-class retirees will likely run out of money if they maintain their preretirement lifestyles and don't reduce spending by at least 24 percent, according to a 2008 study by Ernst & Young.

Curbing spending will undoubtedly help your money last longer, but it's not the only factor in the equation.
You can also stretch your retirement income by proactively managing your investment accounts and savings, which means understanding how they produce income over time and what risks they carry.

Be realistic about whether you can afford the lifestyle you want in retirement. And stay healthy. Out-of-pocket medical expenses can eat away at your assets or income significantly as you get older.

Will copycat Meme prove a viable option for Yahoo?

Yahoo’s launch of its microblogging site Meme in English was no surprise as it had already started the service in German and Portuguese languages. What leaves many stunned is its decision to take on Twitter, the grand old father of the trade, that too by just attempting to copy it.

FOREX-Dollar, yen down on G20 pledge; commodity FX jumps

The U.S. dollar and yen fell on Monday and the Australian dollar hit a one-year high, after a meeting of global finance chiefs boosted investor appetite for growth-related "riskier" assets like commodities and stocks.
Investors were slightly more inclined to put on trades after Group of 20 finance ministers and central bankers agreed to continue implementing expansionary monetary and fiscal policy, analysts said. [ID:nL5327479]
New draft rules in China to ease investment limits also boosted broad market sentiment, which pushed European shares up 1.8 percent .FTEU3 and oil up 1 percent .CLc1. [ID:nPEK33586]
Gold also neared $1,000 an ounce XAU which, along with strong Australian jobs data, helped hoist the Australian dollar to its highest levels in a year, while the New Zealand dollar neared its strongest in almost a year ahead of the Reserve Bank of New Zealand meeting this week.
But trading was thin thanks to the U.S. Labor Day holiday.
"There wasn't a big market reaction to G20, but in general the outcome was seen as pro-risk appetite, mainly because there will be no early exit from the stimulus packages," said Robert Minikin, currency strategist at Standard Chartered in London.


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Katrina Kaif

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kareena kapoor

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Deepika Padukone

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Aishwarya Rai Bachchan

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Sunday, September 6, 2009

Bsera An Trabel


In the last post 2-4 “The Power of Pessimism” I talked about facing your fears by using a plan of attack and addressing what those fears are that are keeping you in place.I would like to define this process in greater depth.
Define the nightmare. Create in your mind what that trading experience would be: whether it is a first loss, a streak of losses, or a serious drawdown causing a set back inyour trading account. Create that scenario in your mind and then live as if you are there in that moment. (possibly you have already experienced it or are living inside thatnightmare right now?) Either way put yourself there and record the emotions that you feel. Once you have defined the emotions you are feeling, refer back to your plan of attack.Make sure that you have defined the fear as it really is, then make any adjustments to how you will cope with the emotions that you are having and define a plan to extinguish them.

Forex Strategy Secrets

Forex trading simplified. Learn how to get into the forex trading market as a beginner or tricks and tips to further your existing knowledge.

Trust Yourself

When you turn on the TV (especially mainstream media) you are inundated with news of the demise of the dollar. Business news, national news and even your local news channels are leading into events with reports of the dollar and the economy. Analysts are featured and opinions are smattered across the airwaves in an attempt to provide an oracle response to current economic events.Beware the source and follow your system.In these volatile times it is easy to get caught up in the hype provide by all the news media and analyst. It is natural to want to look for guidance. Remember to trust your system and more important trust yourself. You, after all, are the single largest determinant of your success.Your approach should remain consistent, almost impervious to the events occurring because you follow your plan with discipline and ruthless detail to executing at optimum performance.Be disciplined and follow your plan. If market conditions don’t suite your style – sit this one out until conditions provide your with your personal edge!Happy Trading!!


One of my favorite indi is LWMA 55. I dont know why but the price seems to react a lot of this line. People say that MA is a lagging indicator and I agree with them 100% but do not use MA as a signal generator, instead use them as a dynamic support and resistance.For those of you who love to experiment, try putting LWMA 55 on a chart and see how price actually interact with the line. Its not magic but its a mathematical calculation. Dont get me wrong, you may not be able to trade using MA 55 alone. Try putting LWMA 13 in there as well and remember they are not signal generators. Treat them as dynamic support and resistance. Put it into a simple formula. If price > LWMA 13 & LWMA 55 = long. If price < LWMA 13 & LWMA 55 = short. Try it, you may like what you find. Just needed to add in a filter to improve accuracy.


Due to restricted time and Internet connection that I have now, I have opted to trading using the daily charts.Its not as aggressive and thrilling as trading on the shorter time frame but the result is about the same minus the headache. I'm beginning to like daily trading. I need to make decision once in a while and the rest of the time I just hold my position. On a daily chart, the candlestick is much easier to read and pattern is much clearer. On 13th August I opened 3 position. 2 of which is still holding while 1 has been closed. At the moment all position are in profit. Daily trading is not for everyone. It took me sometime to adjust on the requirements of daily trading, but once you are there you never look back.Till next time, good luck everyone

fight in quetta pakistan [ funny ]


Best Urdu Speech

only in pakistan

Wednesday, September 2, 2009

Schering-Plough loses $473 million tax dispute

A company spokesman said Schering-Plough is considering an appeal.
The transactions, which occurred in 1991 and 1992, involved interest rate swap agreements created by Merrill Lynch, financial adviser to Schering-Plough, a maker of hepatitis treatments and allergy drugs including Nasonex and Clarinex.
"The transactions were designed to bring previously untaxed profits made by Schering-Plough's foreign subsidiaries into the United States without paying the tax owed on repatriation," the statement said.
It said the court found "the transactions lacked economic substance, did not have a genuine business purpose, and were designed to avoid tax."
According to a filing with the Securities and Exchange Commission this spring, the case dates to October 2001, when Internal Revenue Service auditors asserted that the transactions were really loans from affiliated companies. In 2004, Schering-Plough paid the IRS $194 million for income tax and $279 million in interests -- the $473 million total -- but then sought a refund of that amount.
After the IRS denied the refund request, Schering-Plough sued in federal court in Newark, leading to the latest ruling.
"We disagree with the court's decision and are considering our options, including appealing the decision," Schering-Plough spokesman Fred Malley said.
Schering-Plough, based in Kenilworth, N.J., is in the process of being acquired by New Jersey neighbor Merck & Co. for $41.1 billion, in a deal that would leapfrog the new drugmaker into the No. 2 position in global sales.
In midday trading, shares of Schering-Plough fell 15 cents to $27.64.

UK presses Caymans to raise taxes to solve deficit

Britain is pressing the Cayman Islands, one of the world's major tax havens and a U.K. territory, to raise new taxes as part of a plan to bail itself out of a financial hole.
Saddled with a budget deficit and unable to pay all its bills last month, the Cayman government had negotiated bank loans of up to CI$372 million ($465 million) to see it through the financial year ending June 30, 2010.
But last week the British government refused to permit the territory to borrow unless it developed a plan to curb expenditure and widen the tax base.
The Cayman government is working on its response, officials said Wednesday.
As a British Overseas Territory, the Cayman Islands is largely self-governing, but it needs permission from Britain to borrow beyond its statutory debt limit of 80 percent of annual revenue, said Ted Bravakis, spokesman at the Cayman Ministry of Financial Services.
"I fear you will have no choice but to consider new taxes -- perhaps payroll and property taxes such as those in the British Virgin Islands," Foreign Office Minister Chris Bryant said in an Aug. 27 letter to McKeeva Bush, leader of the Cayman government.
Bryant added that it would be unwise to "expect that the Cayman Islands' prosperity can presume on an offshore tax haven status."
Tourism, which accounts for about three-fourths of the economy in the three Cayman islands, has been hit by the global recession. Visitor arrivals were down 12 percent in the first four months of the year, according to the Caribbean Tourism Organization.
Financial services, the other pillar of the islands' economy, have also suffered.
The government of the islands, which lie 150 miles (240 kilometers) south of Cuba, depends largely on indirect taxes including customs duties and stamp duties on transactions including property sales, mortgages, land leases and rents. Business licenses cost a bank up to CI$500,000.
The Cayman Islands does not directly tax any of the companies registered there, and has no income tax or capital gains tax.
According to Cayman Islands Financial Services, more than 80,000 companies were registered there. The Cayman Islands Monetary Authority lists 269 registered banks, of which six provide services on the island; more than 800 insurers and 9,000-plus mutual funds are also registered.
Bush said in a speech last week that the Cayman government logged an operating deficit of CI$81.1 million for the year ending June 30 -- equal to nearly 17 percent of the government's income for the period -- instead of the surplus of CI$13.5 million projected in the budget.
Operating revenue of CI$487 million fell short of the budget projection of CI$528 million.
In order to pay civil servants on Aug. 25, Bush said, the government postponed payment of pensions and health insurance, and put off payments to contractors and other suppliers.
"Things will need to change," Bush said, though he appeared to rule out any direct taxation on businesses or the islands' 52,000 residents.
"We will either need to make aggressive cuts in either jobs or work hours for civil servants as well as raise indirect taxes, or we will need to focus on the areas where we can secure the revenues without harming our economy and our quality of life," Bush said.
U.S. President Barack Obama has named the Cayman Islands as one of the tax havens he would like to see closed. He has referred several times to Ugland House in George Town, the Cayman capital, which is the registered office for nearly 19,000 companies.
"Either this is the largest building in the world or the largest tax scam in the world," Obama said in a May 4 speech.
"And I think the American people know which it is. It's the kind of tax scam that we need to end."
Under such pressure, the Cayman Islands this year has signed up to agreements with 12 countries to exchange information on tax issues, and the Organization for Economic Cooperation and Development added it to a "white list" of jurisdictions that cooperate in tracking tax evaders.
Bryant demanded that the Cayman government develop "a clear strategy for cutting borrowing and debt over the next three to five years and tackling expenditure."
"I doubt that the Cayman Island government can afford to take on extra debt without both getting expenditure under control and widening the tax base," Bryant wrote.
"I therefore need to be absolutely convinced that there is a sustainable medium-term plan for turning round the public finances and paying off the debt before being able to consider any extension of borrowing."
In his speech last week, Bush outlined several possible economic development projects, including relocation of the capital's cargo port, developing a channel to allow mega-yachts to berth in George Town, building new cruise ship berths, and making more effort to attract five-star hotels, golf courses and other tourist developments.