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·UK home loans fall by half in January (AP)
AP - The value of home mortgage advances in January fell by half from December, when there was a late rush to complete deals before a tax break ended at the New Year, the Council of Mortgage Lenders said Friday.
·Summary Box: Citi CEO sees return to profitability (AP)
AP - BULLISH OUTLOOK: Citigroup Inc. says its returning to "sustained profitability" after losing billions on bad loans and taking a federal bailout. CEO Vikram Pandit says the bank is shedding risky mortgage assets and shifting focus to emerging markets like Latin America and Asia.
·Fannie Mae to offer $6b in notes (AP)
AP - Fannie Mae on Thursday said it will offer $6 billion of new 3-year notes due May 7, 2013.
·Govt official warns on home down payment hikes (AP)
AP - The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the housing market.
·Stocks Are Quiet While Currencies Scream (The Motley Fool)
The Motley Fool - After a down January, the stock market is again positive for the year. The much-fabled January effect barometer didn't work in 2009, and it remains to be seen if it will work in 2010. Economic data has continued its slow improvement, keeping stocks fairly calm. The wild action so far this year has been in the currency markets.
·Mortgage rates remain below 5 percent (AP)
AP - Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.
·Foreclosures drop for 2nd month in February: RealtyTrac (Reuters)
Reuters - U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.
·Quinn seeks income tax hike for schools (AP)
AP - Calling himself a realist, Gov. Pat Quinn on Wednesday scaled back his proposal to raise income taxes, shifting to a call for an increase of just one percentage point to be used solely for preventing deep cuts to education.
·Home loan demand nudges higher in latest week (Reuters)
Reuters - U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
·Nationalized UK bank Northern Rock back in profit (AP)
AP - Nationalized mortgage lender Northern Rock said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell.
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·Be sure you know what youre doing if you cede a life policy
Be sure you understand all the implications before you cede a life policy as security for a loan, and be particularly aware of how the cession affects the nomination of beneficiaries to the policy.
·Full value of ceded policies lost to widow
If you cede a life assurance policy with an investment value as security for a debt, be aware that the bank may not only call in that security if you die, but also if you cannot repay the debt.
·Do your loved ones a big favour: draw up a will
This week we deal extensively with the problems of cessions of life assurance policies to provide security for loans. It is a complex issue and one that can become a great deal more complex if you do not have a will.
·Thresholds for grants to rise
The asset and income thresholds for social grants will increase by between four and seven percent from April 1, when the social grant increases also take effect.
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·Personal Finance section / feed discontinued
The AME Info Personal Finance section / RSS feed has now been discontinued. The content has been moved to the Banking section (www.ameinfo.com/banking). RSS users please go to www.ameinfo.com/rss to subscribe to the new feed.
·New credit card offers discounts for shoppers
Majid Al Futtaim Group has partnered with two Japanese firms to launch a new credit card in the UAE that offers shoppers discounts at some retail outlets. Customers who sign up for the new Najm JCB card will receive discounts as high as 50% at Carrefour; 20% at MAF-owned fashion stores; 25% at Ski Dubai, and 20% at the Kempinski Hotel at the Mall of the Emirates. Shoppers can also take advantage of one to two per cen ...
·Royale Mastercard wins award
Dubai First, the consumer finance company of Dubai Group, has announced that its Royale MasterCard has been awarded the 'Best Premium Programme - Credit Award' by MasterCard Worldwide. The Royale is the only credit card in the region embedded with a certified diamond set within a distinctive metal crest and is available by invitation only. It offers unique services and benefits such as a Personal Relationship Manager ...
·Gold gains appeal as alternative asset
A US decision to flood the financial system with unlimited dollars has fueled concern inflation may rise and boosted gold's appeal as an alternative asset, reported Bloomberg. The Federal Reserve yesterday led a push by central banks to inject the financial system with as many dollars as banks want, backing up government efforts to revive confidence and helping to reduce money-market rates. Bullion for immediate deli ...
·QIB launches e-banking
Qatar Islamic Bank has launched internet banking services for all its personal banking customers. A similar service for corporate customers is expected to be unveiled soon. Customers will be able to transfer money, pay utilities, check balances and oversee their accounts online through secure connections.
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·Step-up home loans: The pros and cons
If you decide to go for a step-up loan, select fixed rate option instead of floating rate option, as it will let you control your EMIs. Besides avoid over-borrowing on this kind of a loan, to prevent financial problems later on.
·Selling your property? Know your rights!
Familiarise yourself with Transfer of Property Act. The rights and duties you have are outlined in the Transfer of Property Act.
·Great mantras to unlock stock market riches
Formula plans can unlock the door to stock market riches -- by helping you, automatically, buying low and selling high. Check out how.
·Invest in India, former Vodaphone CEO to students
Arun Sarin, the newly minted honorary knight of the British Empire who delivered the ending keynote, urged the Berkeley students to invest in Asia and work there to learn valuable entrepreneurial lessons.
·Budget: Promises kept and not. . .
As a follow on to all the articles written about Budget 2009-10, here's a review of what took place, what is still taking place and what has not taken place.
·Tax: Should you invest in Infrastructure Bonds?
r the people in the Rs 5-8 lakh bracket, it would be advisable to invest in infrastructure bonds if the period of investment is 3 years, but not for five years and for those in the Rs 1.6-5 lakh bracket, it would be an absolute no-no to invest in Infrastructure Bonds for tax-saving purpose.
·Budget: Just who saves how much tax!
A back of the napkin calculation will tell us that people having a taxable income of Rs 500,000 will be paying a tax of Rs 34,000 in 2010-11 as against Rs 54,000 in 2009-2010. A saving of 37.04%!
·'No change in taxation on MF investments'
In an hour-long chat on rediff.com on Friday, financial expert K V S Manian replied to many Budget-related investment queries.
·VCs see investments rising in 2010
The venture capital industry is optimistic about renewed investments this year, with focus shifting primarily to the green technology sector, a survey by global consultancy KPMG LLP said.
·World's 10 greatest investors
The greatest investors not only make a fortune off their success but they also help millions achieve similar returns.
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