September 27th, 2010 by admin
Most of us turn to annuity buyers when it comes to investing in our retirement. This is primarily because annuity, such as structured settlement annuity, a variable annuity or fixed rate annuities, is an investment for a definite period of time. It means that you not only put aside money but also allow it to garner interest.
When it is the right time for liquidation, you can expect a definite income for the rest of your life or a specified time, as per the annuity terms and conditions. It is worthwhile to note here that annuity buyers can make a good amount of tax-free money depending on how much you decide to invest, the percentage rate, and the financial institution. It is important to note here that annuity is different from certificate of deposit (CD) in the sense that annuities can be liquidated without penalty and tax benefits are possible with them as they are meant for retirement purposes. However, terms and conditions differ from one annuity provider to another and you must always read the fine print to stay assured of facts.
Overall, annuities are one of the most rewarding options for senior citizens and I would surely suggest buying them from companies selling annuities as a great retirement plan. If you have been planning to buy annuity, the best age to buy is 55 years when most annuity companies would be knocking your doors. However, it is suggested that you read everything about the annuity plan by asking for an annuity guide from the bank manager. This guide will be more than useful to help you access the ratios and timelines on which the annuity provider is expecting you to act. For example, if you have decided to invest $10,000 for 5 years, you may be offered an interest rate of 3 percent though if you increase the annuity period to 10 years, you may be rewarded with an interest of 10 percent. Remember to discuss all these critical variables with a bank manager when you look out for the best annuity rates.
Tags: annuities, annuity, annuity guide, best annuity rates, buy annuity, certificate of deposit, liquidation, retirement, variable annuity
September 24th, 2010 by admin
Electronics and Computer Software Export Promotion Council (ESC) has said that American companies should not be allowed to participate in Indian e-governance projects after protectionist measures were taken by the US administration.
ESC said in a statement that the major beneficiaries of the e-governance projects outsourced by the Union and state governments presently are US companies like Microsoft, IBM, and Oracle.
The state of Ohio has banned outsourcing of government information technology and back-office projects to locations such as India.
“The adverse impact on SMEs on account of the ban is more severe and if the situation is allowed to drift, it would also result in wiping out of the SME sector in India,” ESC Executive Director D K Sareen said.
He urged the Union Commerce Minister to impress upon their counterparts that protectionist measures will not help in the development of bilateral trade and investment.
“There should be expressed provisions in the e-governance contracts that certain percentage of business should be earmarked for the SMEs and this should be implemented in letter and spirit,” ESC said.
ESC said it was a misconception that outsourcing is a zero sum game for the US corporations.
ESC said the truth is that USD 30 billion export of software and related exports to the US has benefitted the country in as much terms as gains to India.
Tags: bilateral trade, e-governance projects, IBM, Microsoft, Oracle, outsourcing
September 20th, 2010 by admin
The China Banking Regulatory Commission has granted approval to Bank of China for a 60 billion Yuan ($8.83 billion) share placement in Shanghai and Hong Kong.
This disclosure was made by Bank of China in a stock exchange filing on Thursday.
China’s fourth-largest bank joined larger rivals including top lender Industrial and Commercial Bank of China to tap investors for billions of dollars of recapitalisation after a 2009 lending binge to support the government’s economic stimulus.
The approval was expected after the banking regulator tightened capital requirements on banks to pre-empt a rise in bad loans.
Last month, ICBC said the China Securities Regulatory Commission had approved its plan to issue up to 25 billion yuan ($3.68 billion) in convertible bonds in Shanghai.
ICBC is also planning to raise up to 45 billion Yuan ($6.6 billion) through a rights issue in Hong Kong and Shanghai.
Tags: bad loans, capital requirements, convertible bonds, economic stimulus, recapitalisation, stock exchange filing
September 17th, 2010 by admin
The number one carmaker of South Korea, Hyundai Motor, unveiled its first pure electric car recently and aims for commencement of mass production of the vehicles in 2012.
Hyundai said in a statement, without disclosing prices for the vehicle that the “BlueOn,” based on its i10 hatchback, will be powered by batteries made by SK Energy with a capacity of 16.4 kilowatts per hour.
Hyundai will produce and supply a small number of electric vehicles to government agencies this year and next before commencing sales to the general public in 2012, by which it plans to manufacture 2,500 units, Hyundai said.
Hyundai said it was early too say in which markets the BlueOn would be launched first.
“We are taking a baby step. There is no infrastructure such as charging stations in Korea and many other countries,” a spokesperson said.
There are a number of electric vehicles in the works by other automakers, but their high cost and the limited range are cited as the biggest hurdles for their widespread adoption.
Japan’s Mitsubishi Motors Corp was the first major carmaker to roll out pure electric cars. Its i-MiEV electric car was introduced in Japan in August.
Nissan Motor Co plans to introduce a mass-market electric car in the United States in December. Ford will have an all-electric version of its Focus available in late 2011.
Hyundai said that the BlueOn can run 140 kilometers on a single charge and features a maximum speed of 130 kilometers per hour.
Tags: BlueOn, electric car, electric vehicles, Hyundai Motor
September 13th, 2010 by admin
It has been greatly seen that there is a lot of interest among the youth regarding the online games. The internet surfers are addicted to a lot of Facebook and other social networking games. This addiction may also get them a job if they involve themselves in games which are popularly known as power games. These games now give an opportunity to learn marketing through such games and even get hired. This popular game is recently launched by British company Reckitt Benckiser.
The basic motive of launching this game was to address concerns of what it would really be like to work as a marketing executive in a large company. PowerRBrands is aimed at those who may be early in their careers, but are looking to learn how Reckitt’s marketing division operates.
Says Sethi, “Over the last two to three years we have been developing a series of initiatives to reach out to talented students and people who are new to their careers. We are looking to push boundaries and find innovative and effective ways to communicate. The game is the logical next step in building a strong online presence.”
The game involves the marketing division and its operations. The player needs to be innovative and test his business skills to climb up the promotional ladder. This game greatly secures a good position in the field of online presence. The talented teenagers are now testing their ideas and creating a niche of them in the market in an entirely different approach.
Tags: business, Internet, market, marketing, online games, Online Presence, power games, social networking, teenagers, youth
September 10th, 2010 by admin
According to a recently released survey, small businesses in the United States are now more optimistic than they have been in the last 2 years. Though small business owners expressed optimism about the economic outlook, they were reluctant to expand staffs and boost capital spending.
The National Federation of Independent Business (NFIB) said 7 out of the 10 index components rose as per its survey but capital expenditure and job creation plans barely gained and were the same as those during the recession.
NFIB chief economist William Dunkelberg said the biggest concern of small business owners is weak sales and until that turns around, they will not be inclined to hire new staff or invest in new equipment.
The NFIB survey of 823 businesses through the end of May showed that more small businesses are experiencing weakening sales than are enjoying sales improvement. Widespread price cutting was also reported, it said. May was the 18th consecutive month in which more business owners reported cutting average selling prices than raising them.
“The Fed is right, the likelihood of inflation breaking out in the near term is low, but the picture is changing and could change quickly,” the NFIB report concluded.
Small businesses account for about half of gross domestic product and many analysts do not see U.S. employment picking up much until small firms begin hiring.
The survey also disclosed that more small business owners expect market conditions to improve in the coming six months.
Tags: capital spending, economic outlook, job creation, small business, small businesses
September 7th, 2010 by admin
According to court documents, Google has agreed to make a payment of $8.5 million for settling a privacy lawsuit over a Buzz social networking tool that was added to free email service Gmail in February.
Google Buzz was taking Gmail contacts of a user and automatically adding them to their public Buzz social network.
Legal paperwork made available online detailed the proposed settlement, which awaits approval by the federal court judge in San Francisco presiding over the case.
Lawyers that filed the class-action suit staked out 30 per cent of the settlement money and the seven named plaintiffs were to get no more than $2,500 each, according to court documents.
Facing a slew of privacy complaints in the wake of the Buzz launch, Google has made changes to the new social networking tool.
“Google has made changes to the Google Buzz user interface that clarify Google Buzz’s operation and users’ options regarding Google Buzz,” the settlement maintained.
From now on, users of Gmail will have to create a Google Buzz public profile for viewing, editing, or hiding lists of people in their social online circles.
Tags: Buzz social networking tool, Gmail, Google, Google Buzz, Internet privacy, social network, social networking tool
September 3rd, 2010 by admin
Fears of the US economy facing a double-dip recession were expressed after pending sales of previously owned US homes rebounded unexpectedly in July and new claims for jobless benefits fell last week.
The data released recently including sturdy sales from retailers in the US last month followed a report displaying a surprising gain in manufacturing and suggesting that the US economy has been able to retain some underlying strength.
This is an economy that has hit a soft patch. It’s not an economy that appears to be heading towards a double-dip recession,” said Brian Levitt, an economist at OppenheimerFunds in New York.
Investors appeared to agree that fears of a double-dip recession might have been overdone as they sold U.S. government debt for a second straight day and bought stocks. The broad Standard & Poor’s 500 Index ended up 0.91 percent.
The National Association of Realtors’ Pending Home Sales Index, based on contracts signed, rose 5.2 percent in July from June. Analysts had expected the index, which leads actual sales by a month or two, to fall 1 percent.
Home sales have dropped sharply since a popular tax credit for home buyers ended in April and the surprise gain in pending sales raised hopes the sector could soon stabilize.
The minutes of the U.S. central bank’s last policy meeting showed that some policymakers believe that the outlook would have to deteriorate “appreciably” to spur fresh monetary support.
Tags: Home sales, recession, stocks, tax credit