Category Archives: Profits

Profits

Saxo Bank Launches Forex Education Programme On Facebook

Saxo Bank has announced the addition of a Forex Trading Education tab to its Saxo Forex fan page on Facebook, allowing traders of all experience levels to enhance their Forex trading knowledge and gain new insights into the psychology of trading.

Facebook has over 400 million users worldwide, and a growing number of companies are moving to the platform to educate and communicate with customers. The Saxo Forex Facebook page has seen a rapid growth in number of ‘fans’, Facebook’s term for users who show interest in the company and automatically receive all updates of the page. Since its launch in February the page has attracted over 5,500 fans, a large percentage of whom read new posts and follow discussions on a daily basis. The page enables users to participate in Forex trading discussions and stay informed of upcoming events, such as seminars.

Many Facebook users with little trading background discovered the page as well, and asked for ways to improve their Forex Trading knowledge. Saxo Bank formulated an education application that is useful for traders of all experience levels. The programme consists of beginner, intermediate, advanced and expert sections. The application will soon be recieving an update, giving visitors the opportunity to test their knowledge beforehand in order to help them decide at which level to start learning. The update will also give users the option to post their progress in the education section on their wall, which will be visible to this person’s contacts.

Educating clients has always been one of Saxo Bank’s strengths. TradeMentor, its existing education programme, offers online and offline course materials on both Forex Trading and CFD Trading and the company aims to reach a broader audience with the Facebook application, giving users the opportunity to discuss the topics with other traders.

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Debt Free Direct Sees Mixed Results As Q1 Insolvency Figures Are Released By The Insolvency Service

The latest insolvency figures released show personal debt is continuing to rise in the UK, with Q1 of 2010 the fifth consecutive quarter to do so. Official figures declared for the first three months of 2010 saw a 17.9% increase in the number of personal insolvencies in England and Wales compared with the same period last year. Company insolvencies however were down 17.8% on the same period last year, rounding off a mixed year for the nation’s debt.

Debt Free Direct Sees Mixed Results As Q1 Insolvency Figures Are Released By The Insolvency Service

There were 35,682 personal insolvencies and 4,082 company insolvencies in the first quarter of 2010, however Derek Oakley, Insolvency Director at Debt Free Direct has warned of the trends of previous downturns; “In previous downturns the UK has experienced a double spike in formal insolvencies: the first representing the actual downturn itself and the second coming during the recovery of the downturn as under capitalised and weakened businesses struggle to cope with increased activity levels.”

The figure for company insolvencies, 4,082, equalled out at a decrease of 8.4% on the previous quarter. The figure can be converted to 1 in 120 active companies going into l formal insolvency(or 0.8%), which is a decrease f r o m the previous quarter, when the figure stood at 1 in every 114 countries (0.9%).

The official figures on insolvencies are released by The Insolvency Service and are compiled f r o m administrative records of the Department for Business, Innovation and Skills. The records show that the 35,682 personal insolvencies consisted of a variety of different types. The traditional way of dealing with unmanageable debt; Bankruptcy was at 18,256, which was down 10.7% on the same quarter last year, but up 7.3% on the previous quarter.

There were 11,782 Individual Voluntary Arrangements (IVA), up 20.1% on last year but at the lowest level since the first quarter of 2009. An IVA is a legally binding agreement between debtor and creditor in which a reduced payment plan is committed to. Introduced in 1986, the agreement typically lasts for around 5 years and the consumer has the potential to settle a portion of their debt.

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Saxo Bank Launches New Video Channel For Forex And Equity Programmes

Saxo Bank, the specialist in online trading and investment, is launching a new one-stop video site for its market commentary, interviews and educational programmes.

Saxo Bank Launches New Video Channel For Forex And Equity Programmes

The Bank produces many hours of financial news and analysis from its own state-of-the-art studio at its head office in Copenhagen, Denmark. The studio is in daily use by Saxo Bank’s team of analysts providing comments to international and local TV stations such as CNBC and Bloomberg.

Videos for Saxo Bank’s websites have been hosted by Saxo Bank using third-party servers and are shown on several websites within Saxo Bank and sharing sites such as YouTube. The new video site uses a web-TV platform from 23Video, a Danish web start-up.

“Video is becoming increasingly important as a way of reaching investors with commentary on the markets and educational programmes for traders that are new to online markets,” said Dinis Guarda, Global Head of SEO and Social Media Strategy at Saxo.

“We have been running a weekly Forex and equities update since May last year and have produced around 250 trading strategy videos featuring interviews with Saxo Bank’s analysts for the www.tradingfloor.com website,” he added.

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LV= Reveals That Today’s Kids Have Less Freedom Than Previous Generation

According to new research from LV= Streetwise, a charity which educates children about safety, today’s parents don’t allow their kids the same liberties as they enjoyed when they were growing up.

24% of children aged 15 and under said they aren’t allowed to sleep over at a friend’s house, 60% are forbidden to use public transport on their own, and 43% can’t visit their closest park without a parent by their side. In contrast, just 4% of adults were banned from sleeping-over, 2% were forbidden to use public transport or go out on their own in familiar surroundings, like their local town or park.

The restriction on children’s outside activities appears to be a direct result of parents’ growing fears and anxieties. 65% of mums and 63% of dads believe the world is more dangerous now than it was when they were growing up. ‘Stranger danger’ is the biggest worry for 54% of parents, followed by bullying (47%), mugging (47%) and road danger (34%).

On average, children today can look forward to walking to school on their own by the age of 11, use public transport on their own at 12, and babysit their brother or sister by the time they’re 14, compared with the respective 9, 11 and 12 years of age of their parents generation. However many parents know they’re being tougher on their children with 36% feeling uneasy that their kids don’t get the same opportunities as they did to experience freedom as a youngster.

The new research findings mark the launch of the unique LV= Streetwise safety roadshow, which helps to educate children about safety in the home and outdoors using a converted ‘bendy bus’ featuring a life-size kitchen, lounge, and road and rail hazard simulators. The roadshow will be travelling round county fairs and other outdoor events across the UK this summer.

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OnlineFX Announce Relaunch Of Website

OnlineFX has announced the launch of its website which has recently been completely rebuilt and relaunched, offering customers even greater ease of use and more enhanced security features. The new site now features on a dot com domain which appeals to a wider market including the USA.

The OnlineFX website offers a convenient, secure and cost effective way to transfer money to bank accounts across 70 countries worldwide. The website now offers unique services to make ordering travel money even easier. Money transfers are carried out using the same systems as major banks, and OnlineFX dealers are committed to obtaining advantageous exchange rates for all transfers.

To celebrate the launch of the new site, OnlineFX, which was the first company to offer currency delivery online, is running special promotional offers including free international money transfers for all new customers and a free international money transfer for all existing customers who refer a friend.

The company has also just announced an exclusive new free same day travel moneydelivery service to all customers in Central London. This unique same day delivery service guarantees customers’ travel money will be delivered before 6.30pm if ordered for anywhere within the Zone 1 area of London. Orders for this new faster service must be between £3000 and £7000 – OnlineFX is the only UK company to offer this service.

OnlineFX has also introduced a more secure online Buyback Service, allowing customers wishing to sell leftover foreign currency to receive a buyback exchange rate upon receipt of foreign currency notes which is based on the very latest buy back rates.

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LV=’s Annual Results For 2009 Shows Strong Growth Despite A Difficult Year

The latest figures show that LV= achieved a rise in its underlying profit across the year from £41.9m to £44.2m (2008: £2.3m) and a loss in 2006, with the general insurance business making a profit of £7.0m (2008: loss of £30.1m), meaning it went into profit one year ahead of plan.

LV='s Annual Results For 2009 Shows Strong Growth Despite A Difficult Year

Mike Rogers, LV= Group Chief Executive, said: “Despite another difficult year of continued recession and market turbulence, the turnaround of the LV= business continues according to plan. Our core mission of helping our members and customers to look after what they love has enabled us to do more business with more customers.”

LV= customer satisfaction results for 2009 increased to 96% overall compared with 2008 and the number of customers and members grew by 12% to over 3.8m (2008: 3.4m). LV=’s financial strength demonstrated across the year enabled significant holdings in long term growth assets (around 74% of the fund at the year end), should also benefit members’ returns in the longer term.

Additionally LV= policyholders with a £50 a month 25 year savings endowment with-profits policy maturing on 1 March 2010 were at least 39% better-off than equivalent policyholders with four major proprietary companies. In fact the with-profits fund investment achieved a return of 15.4%, 2% above benchmark.

Mike observed, “Our strong investment performance underpins solid returns for our with-profits policyholders, ahead of most of the market, and we also remain strongly capitalised. In 2010, trading has begun strongly, with sales in the first quarter significantly up on the same period last year.

“A strong growth in underlying profit reflects our efforts in re-shaping the business and improving our organisational fitness. Improved awareness of the LV= brand, thanks to our distinctive marketing campaigns, has helped to support a strong sales performance across our life & pensions and general insurance businesses.”

2009 also provided LV with widespread industry award recognition for product quality across life & pensions, general insurance and asset management. These include a Moneywise ‘Most Trusted’ award for home insurance, several Which? recommendations and Defaqto 5 Star awards, plus a Best Lifetime Mortgage Lender award from What Mortgage?

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Traders Advisory DMCC – A Specialize FX Firm Announces Its Opening

On April 18, 2010, Traders Advisory DMCC will start its business activities. Traders Advisory is based in Dubai, UAE and licensed and registered as a free zone company under the rules and regulation of Dubai Multi Commodities Center Authority; it centers its activities on the financial market specifically the FX market by providing alternative forecast and technical analysis of the currency market to traders. It will also offer FOREX training course in Dubai for starters who want to learn how to trade the currency market effectively.

Traders Advisory DMCC - A Specialize FX Firm Announces Its Opening

“Now a day, almost everyone is in to trading the financial market online, and almost all retail traders are in pursuit of finding the solution on how to make their trading easy and profitable. We are providing solutions; our specialized services will help FX traders”, said Mr. Monirul Quazi, Managing Director of the company.

As a trader, either full time or part time, doing all the hard work and research could be very exhausting. Traders Advisory DMCC can offer solution to make trading the currency market less stress and profitable. By simply acquiring to the company’s specialize technical analysis service, members are now leveraging with the company’s vast resources including its team of experts.

The list of services of Traders Advisory DMCC will be available in their website advisoryfx.com beginning on April 18, 2010. For the time being, you can visit advisoryfx.info to sign up for their Special Opening Promo of 30 days FREE access to their website.

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Saxo Bank On Track With Sound Results For 2009

Saxo Bank, the online trading and investment specialist, has announced that it has received sound and steady results for 2009 and achieved a positive emergence from the financial crisis.

Business picked up during the second half of 2009 after a relatively slow beginning to the year. Operating income for the year was DKK 2,228 million compared to DKK 2,518 million in 2008. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was DKK 441 million while net profit was DKK 201 million with 80% earned in the second half of the year.

As of 31 December 2009, the solvency ratio was 19%. The Bank’s Internal Capital Adequacy Assessment (ICAAP) process showed a minimum capital requirement of 8%.

The founders and CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen, said in a joint statement:

“Saxo Bank is a trading, investment and savings specialist not engaged in traditional lending activities and not dependant on traditional loan financing business. That has worked to our advantage in what was a very difficult year for everyone. Saxo Bank’s business model has shown some resilience to the financial crisis and we are satisfied with the results.

“2009 was a year of geographical expansion and establishing new business areas. We opened five new offices and our Asset Management business grew significantly. The new Saxo Equity Platform, which was launched in March 2010, sets the stage for a year, which will be characterised by new products and platform developments. Even though such investments have no or limited impact on income in the short run, we believe it is the right time to take advantage of the many opportunities available to take the Bank to the next level.”

The value of clients’ collateral deposits related to the trading business increased more than 70% to DKK 15 billion as of 31 December 2009. On 1 April 2010 it was more than DKK 17 billion.

In 2009, Saxo Asset Management was launched to cater for the top segment of High-Net-Worth Investors. The new business area is the combined concept of three asset management businesses acquired in 2009. The asset management activities of the Bank now include expertise within Danish bonds, Nordic Stocks, high-yield and emerging market bonds. The acquired companies, Sirius, Capital Four and the 51% stake in Global Evolution, grew assets under management organically from approximately DKK 10 DKK billion at the time of acquisition to more than DKK 20 billion as of 31 December 2009. On 1 April 2010 it had grown another 25% to DKK 25 billion.

Saxo Bank is a Forex, CFDs and Futures trading specialist and has no engagement in traditional lending activities. However, in response to the instability and lack of confidence in the financial markets, Saxo Bank chose to join the Danish state’s Guarantee Scheme (Private Contingency Association). On 24 March 2010, a majority in the Danish Parliament agreed on a new guarantee scheme, which would bring deposit guarantees into line with European Union rules. The new guarantee scheme is set to take effect from 1 October 2010. All Danish banks are covered by the scheme.

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UK Savers Losing Billions Of Pounds In ISA Accounts Each Year

As billions of pounds of British savers money is being lost in ISA accounts, the government’s consumer watchdog Consumer Focus is due to launch an official complaint on the matter. The move which could potentially ‘shake up the ISA industry’ is a long time coming suggests Matt Spencer, founder of UK based personal finance blog Moneystand.co.uk.

Consumer Focus have highlighted numerous ‘unfair obstacles’ financial providers have put in place for savers to transfer their accounts to other banks, which pay higher interest rates.

The cash ISA market is currently worth around £158 billion, as savers flocked to the tax free service introduced in 1999. Upon its launch rates averaged a healthy 6.32 %, however this figure has plummeted to 0.42 %, a figure that is below the Bank of England base rate.

Mike O’Connor, chief executive of Consumer Focus suggests that a slow ISA transfer process and bureaucracy from the banks has caused many of these problems. He suggests that only 12 % of people have moved their ISAs to a more preferable savings rate, which is costing UK savers millions per year in lost revenue.

As a large consumer group, Consumer Focus can launch a ‘super-complaint’ to the Office of Fair Trading (OFT). This would force the OFT to give an official response within 90 days to the matter and a decision over what action it would take towards the issue.

Common issues that arose include the length of time it takes for transfers to occur when sending funds and information from one bank to another. Official government guidelines recommend a limit of four weeks for this process. Findings from Consumer focus show that a third of people switching their ISAs waiting more than five weeks for funds to clear into the new account.

Customers should be wary when looking for a new ISA provider however warns Matt Spencer, suggesting:

“Banks are offering introductory rates with high interest levels to entice new customers to open new ISA accounts. These short term bonuses often hide very poor interest rates once the honeymoon period is over.

It’s time for savers to get the rates they deserve, so be sure to make your money is working as hard as possible for you. This might mean that you need to change your current ISA provider, despite the long transfer times between banks.”

Personal finance blog MoneyStand provides unbiased personal finance, IVA help and debt related information. Founded in 2008, MoneyStand was created in response to the worsening financial situation of individuals in the UK and across the world. For more information on personal finance, visit www.moneystand.co.uk.

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Knowledge To Action Stock Market Seminars Supply International Demand

Knowledge to Action, Europe’s largest trader coaching company, is expanding to offer its forex trading seminars in Singapore, Australia and New Zealand. This follows greatly increased demand for these events, at which attendees gain valuable insights into becoming successful private traders on the foreign exchange markets.

Knowledge To Action Stock Market Seminars Supply International Demand

Knowledge to Action originally started running stock market training in 2004 and launched its forex training courses in 2008. Knowledge to Action previously only held seminars in the UK, which houses its Trader Centre of Excellence and one of London’s most successful private trading floors.

After speaking to sell out Australian audiences in 2009, Knowledge to Action is officially launching an office in Australia this month. This offers more opportunities for private individuals to benefit from Knowledge to Action’s strategies and systems for gaining financial independence through stock market and forex trading. People living in Australasia can now benefit from these training events.

The company was set up by Greg Secker, who spent years working across foreign exchange trading floors in Europe and the US. He set up Knowledge to Action in 2003 in his home and soon expanded, offering stock market courses from 2004. The company has grown and developed explosively in the period since then, so that it is now the number one trader coaching company in Europe, and is on track to expand into the United States in the second half of 2010.

This growth over a period of just a few years is testimony to the effectiveness of Knowledge to Action’s award-winning forex training and stock market training courses, which are run from its London Headquarters. The success of this training was recognised recently by the company winning a place as a regional finalist in the 2009 National Business Awards.

About Knowledge to Action
Knowledge to Action, founded by Greg Secker, is the home of the award-winning Traders University® programme, and Europe’s number one trader coaching company.  Its stock market course has launched many private traders on the path to financial independence since 2004.

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British Banks Continue To Put Pressure On Customer Finances

According to recent data released by the Financial Ombudsman Service (FOS), banks are rejecting thousands of requests every month from customers looking for help with their finances.

The Financial Ombudsman Service, which is an independently run service that deals with complaints from consumers and businesses in the financial industry, revealed that 13,053 cases were brought to its attention from consumers looking for more leniency from their banks. Debt management and IVA company Debt Free Direct expect to see this number of complaints increase in 2010 as thousands of individuals sought debt advice with the company in Q1 of 2010.

Derek Oakley, Insolvency Director at Debt Free Direct comments:

“We are continuing to see an increase in debt help enquiries from individuals worried about their finances. For many of these people, overdraft charges are adding to their already stretched budgets. We would always recommend that individuals seek professional debt advice if they find themselves struggling to pay their bills each month.”

Compared with just 2,800 similar complaints to the FOS in 2008, the 360 per cent increase in complaints may indicate the UK banking organisations are responding poorly to their customers needs during the economic downturn. In particular customers concerns include individuals in debt who are being charged fees on their overdraft facilities or insurance policy holders who have not been paid out on their claims.

Although traditional legal routes for reclaiming money lost through overdraft charges have now ended, there are still ways in which individuals can claim this money back if they are in financial difficulties. With charges of up to £35 every time the overdraft limit is exceeded, such fees could be contributing to furthering levels of personal debt for many customers in the UK.

According to the Ombudsman service, many banks will ignore individual’s pleas of hardship and refuse to suspend overdraft charges, renegotiate overdraft limits or restructure outstanding debts, despite this going against the industry lending code for personal banking. In the case of most complaints put forward to the Obmundsman, the customer will have already been refused a refund by their bank on any outstanding overdraft charges.

Debt Free Direct recommends the best course of action for anyone with financial worries is to seek professional, confidential debt advice. Many individuals may feel ashamed of their financial difficulties, but seeking advice is one of the first steps to becoming debt free.

They state, “Our aim is to suggest an effective debt solution for every individual using our Best Advice Model (BAM). BAM quickly and accurately analyses the financial information for each person and recommends the most appropriate, least drastic solution for them.”

Debt Free Direct, the UK’s leading Insolvency practitioners receive thousands of insolvency inquiries each month for debt advice. The company, which was founded in 1997 specialise in providing impartial debt advice and guidance for individuals in financial hardship.

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Saxo Bank Launches Property Investment Products

Saxo Bank, the online trading and investment specialist, will now offer property investment products for both private clients and institutional investors through a new company, Saxo Properties.

Saxo Bank Launches Property Investment Products

The newly formed investment firm Saxo Properties, fully owned by Saxo Bank, will launch closed-ended funds for both high net worth clients and institutional investors. Two of the Danish real estate industry’s most well-known individuals, Jesper Damborg and Claus Klostermann, will respectively become CEO and managing director of investments at Saxo Properties.

“Initially, Saxo Properties will focus on handpicked Copenhagen residential, office and retail properties. The first fund will close within the next three months, but we intend to establish a number of funds with a significant ownership capital of at least DKK 250 million,” said Jesper Damborg.

Saxo Bank’s business model is often described as a facilitator model where the bank through its trading platforms offers liquidity, products and services to clients as obtained from other financial institutions. Saxo Properties will use the same model. Saxo Bank has hired Flemming Schandorff, the former COO of ISS, one of the world’s largest commercial providers of facility services, to a similar position at Saxo Properties to facilitate administration of the estates.

“First and foremost, Saxo Properties will prioritize achieving attractive market returns, but we will also focus on how to capitalize on tight cost control and good management, such as rebuilding, mixed lease and general maintenance,” said Jesper Damborg.

Saxo Bank’s CEOs and founders, Kim Fournais and Lars Seier Christensen, said in a joint statement: “Saxo Bank holds asset under management of DKK 40 billion, and our focus on asset management has proved a great success. Many clients have asked for property investment products and there is also a clear synergy between Saxo Asset Management and Saxo Properties, which we can now utilize. Many properties are traded at a low price especially in Copenhagen, so the timing is right to expand our asset management to include property investment products.”

Last year, Saxo Bank bought Sirius Asset Management, Capital Four and 51 percent of Global Evolution. The three companies now form Saxo Asset Management, which has management expertise for Danish bonds, Danish equities, corporate bonds and emerging market bonds.

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Agricote And Saxo Banque France Partner

Saxo Banque France, the online investment and trading specialist, has announced an exclusive partnership with Agricote, the agricultural broker, allowing farmers to manage their selling prices and negotiate agricultural or commodity futures and CFDS online using the award winning SaxoTrader platform.

The partnership with Agricote reflects the evolution of the agricultural industry, and the reality that a new generation of farmers want to control their production and sales, using futures to hedge their output and manage risk. Using SaxoTrader, the partnership enables both producers and buyers to manage market volatility and trade agricultural futures and CFDs online 24 hours a day, with access to 23 stock exchanges.

Commenting on the partnership, Pierre de Perthuis, co-founding partner of Agricote, said: “Our partnership with Saxo Banque will enable farmers to move forward and manage their own production and sales. Farmers no longer want to suffer from the pressures imposed by a volatile market, and seeing farmers taking positions on an online future trading platform is an innovative step forward for the industry. We are very proud to support these pioneers. Farmers are now able to control their destiny”.

Pierre-Antoine Dusoulier, CEO of Saxo Banque France added: “We are pleased to partner with Agricote and acknowledge that the agricultural industry is changing and needs strong support. Agricote was looking for a trusted partner and we met its requirements: Saxo Banque is a perennial French Bank and we have a highly efficient online trading platform and services for fast deployment.”

Main characteristics of the partnership:
– Privileged access to International Futures Markets
– Ability to adopt and implement own marketing strategy
– An appropriate account with user profile
– Trading account access via PC, website or cell phone
– Personalized assistance by Agricote
– A free demo account for 20 days

Farmers will be able to access their online trading platform via a dedicated page on the Agricote website.

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Moneystand.co.uk: Take Advantage Of Saving Strategies

Savers must look for smart new ways to make the most out of their accumulated wealth in the midst of continual drops in saving rates. With easy access and notice accounts both dropping their rates in recent months, savers must act swiftly to ensure they make the most out of any savings they may have remaining.

For those relying upon savings accounts to support their income the consistently low rates of the past 12 months will have been particularly difficult to stomach. Moneystand.co.uk founder Matt Spencer suggests that there are ways around this reality for individuals willing to put in the extra effort to ensure they actually see a real return on their savings.

“Savvy consumers who assess how separate bank details can be played off one another are likely to see the best return on their savings. In these tough economic times, it is always important to make your money work as hard as possible.”

Some savings accounts, such as the Santander offer will reward you for making regular monthly payments in to their account; paying 6% as long as at least £1000 is deposited per month. Other banks, such as the Halifax are offering £5 per month payouts as long as a minimum £1000 monthly deposit is made.

Clearly logic implies that multiple accounts across banks will ensure maximum return and with both of these banks accepting direct transfer from other banks this technique is completely plausible. Many customers are already making use of this process to ensure that they acquire the saving rates they need to ensure they see a real return after tax and inflation are taken into account.

Moneystand suggests consumers must be wary not to fall into the overdraft facility if they do decide to take this approach. Multiple current accounts, all of which have had their overdraft facility used will reflect very negatively upon an individual’s credit rating and must be avoided at all costs. Proper planning must go in to making this decision to ensure that all accounts are clearing whilst still in the positive.

For the latest financial news and advice on individual voluntary arrangement, debt and insolvency issues visit our personal finance blog, http://www.moneystand.co.uk.

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Trading Floor Launch News Widget

Trading Floor, the website featuring commentary by Saxo Bank’s strategy team, is launching a news widget – a ‘mini web site’ – allowing the latest stories from Trading Floor to be placed on any website or blog by pasting a few lines of computer code.

Trading Floor Launch News Widget

The widget is the first of several FX Tools under development that will be launched during 2010. The tools will support Trading Floor’s aim of providing the best knowledge to online traders in Forex trading, equities, FX options and CFD trading. The code can be copied from tradingfloor.com/FX-Tools and links are provided to help on how to add the code to the two of the most widely used blogging platforms.

Trading Floor’s strategy team writes posts throughout the trading day, starting with the opening of European markets to the close of Asian.

Trading Floor offers a range of news and market analysis including the daily trading stance which highlights the important signs to watch for in economic indicators and key levels for the major currency crosses, FX options and commodities. This includes a calendar for important earnings announcements and macroeconomic events. Trading Floor also publishes a wide range of reports covering macroeconomic indicators, and trading suggestions for FX and equities which are all free to download. Trading Floor also offers two to three interviews a week covering FX, equities and commodities. Commodities are covered with Ole Hansen on Wednesday and the FX and equity update is broadcast on Friday. Extra interviews are posted for significant macroeconomic indicators or reports.

Commentary on Trading Floor is written by Chief Economist David Karsbøl, Equity Strategist Christian Tegllund Blaabjerg and Forex expert John Hardy. Futures and Fixed Income expertise is provided by Ole S. Hansen and Alan Plaugmann. Also commenting are Market Strategist Mads Koefoed and Research Analyst Robin Bagger-Sjöbäck.

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CSB Group and Zammit & Associates Advocates exhibit at the IGE 2010

CSB Group and Zammit & Associates – Advocates participated in the International Gaming Expo 2010, held at Earls Court in London between the 26th and 28th January, represented by Mr. Michael J Zammit – CSB Group CEO; Dr. Andrew J Zammit – Managing Partner of Zammit & Associates – Advocates; and Mr. Keith Kerr – CSB Group iGaming and Corporate Services Executive. The team expressed satisfaction from the continued interest from major international gaming operators in Malta as a hub for the regulation and operation of their gaming activities.

CSB Group and Zammit & Associates Advocates exhibit at the IGE 2010

As one of the leading corporate service providers in Malta, CSB Group has now been involved in Malta’s iGaming industry since its inception. Mr. Zammit emphasised the importance of major exhibitions like the IGE 2010, as they provide Maltese service providers the opportunity of promoting Malta as an established and well regulated European gaming jurisdiction to a high-calibre, international audience. Apart from assisting gaming operators with the submission and pursuance of their gaming licence application with the Lotteries and Gaming Authority (LGA), the Group assists the gaming operators relocating to Malta with other key services like recruitment. More than 2,500 people work directly in the iGaming industry in Malta with half of that number being Maltese nationals. CSB Group’s recruitment unit ensures that gaming operators relocating to Malta find the right people to fit their requirements and culture.

This year’s IGE 2010 was a huge success attracting over 20,000 visitors with over 250 companies showcasing their products and services. CSB Group is proud to have been part of the exhibitors present and Mr. Zammit expressed the intention of the Group to continue participating and exhibiting in major events like the IGE to further develop its business and maintain Malta’s good reputation as a centreer for excellence in the professional service industry.

Dr. Andrew J. Zammit, speaking on behalf of Zammit & Associates – Advocates, also expressed his satisfaction with the opportunities presented at the London expo. “As one of the main events on the iGaming calendar, IGE 2010 was an ideal platform to promote our legal services and meet with prospective clients showing interest in relocating their business to Malta”, he said. He was pleased to note the strong participation of Maltese service providers at the expo, from several industries involved in supporting the remote gaming industry. However, he expressed concern that whilst the private sector continues to make significant investment in attracting operators to bring distinct components of their business to Malta, there does not appear to be a corresponding effort being made at the highest levels of the Maltese Government.

He indicated that there is a perceived lack of pro-active participation by the Government on the European plane to defend Malta’s position as a European remote gaming hub and to develop suitable policies and regulatory guidance to accommodate changing requirements in a fast-moving industry. “If Malta is to retain its position as the leading remote gaming jurisdiction within the EU, the Maltese Government must be able to effectively address the significant challenges presented by the need to dovetail Malta’s regulatory regime with other jurisdictions as a result of the increased internationalisation of remote gaming networks, revise regulatory policies in the light of opportunities presented by new technologies and changing business models, and stave off increased pressure from other EU Member States seeking to impede the freedom of movement of services for what appear to be the wrong reasons. Admittedly, addressing each of these challenges is a significant task and requires careful attention if Malta’s credibility as a reputable regulatory jurisdiction is to be preserved. However, it is certainly not realistic to expect the Gaming Authority to deal with all of these developments, in addition to performing its day-to-day regulatory functions, without increasing its current staff complement and involving industry stakeholders and independent external consultants with a view to establishing rigid time-frames within which new policies are developed. If complacency and procrastination become order-of-the-day, there is a real risk that this industry will dissipate from our island” he said.

He concluded by adding that Maltese professionals have earned a very good name for the level of service provided to these international operators basing significant parts of their business in Malta and that Zammit & Associates- Advocates will certainly be attending IGE 2011 in the hope that in the course of 2010 appropriate regulatory policies will be published by the Authority with the support of the Government with industry requirements being kept clearly in mind.

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Consumer Price Index Rise Hits UK Savers Pockets

With bank rates predicted to stay low for the next 12 months, savers are in an increasingly tricky situation, according to personal finance website MoneyStand.co.uk.

As the Consumer Prices Index (CPI) is often greater than the savings account interest rates, MoneyStand.co.uk believes some individuals are actually poorer in real terms by keeping money in certain accounts. The UK website, which focuses on giving advice and information on personal finance, debt solutions, and IVA, has stated that simple and well thought out decisions can make all the difference to consumers in these instances. These are particularly testing times for those who live off the interest of their accumulated wealth to subsidise their pension.

Due to the low interest rates affecting most banks within the UK and the erosive affects of rising inflation, individuals with savings are feeling the brunt of the economic downturn. Even with substantial savings, British savers are missing out on a solid return on their investments once tax is taken into account.

With the Consumer Prices Index rising to 1.9 per cent, basic rate taxpayers need their banks to provide a minimum savings rate of 2.375 per cent before seeing any real return on their investments, and higher rate tax payers need a sizeable 3.166 per cent to see a return. In reality, currently only 9 out of 744 variable rate savings accounts available in the UK actually offer an interest rate higher than this. Compared with November, when 69 out of 744 accounts paid above this rate, experts argue that banks are profiteering at the expense of their customers, warning that the situation will now get even worse for the basic rate taxpayers.

Following a widespread media campaign for better deals for UK savers, the UK government has promised to start taking action against these low yield savings accounts. Despite these claims, Moneystand.co.uk suggests that UK individuals will soon have almost no reason to save.

Founder Matt Spencer said, “Due to the worsening interests rates offered by the banks, we have approached the stage where taxpayers are better off investing their money into gold bullion than they are with savings accounts.”

“Due to the Consumer Prices Index rising beyond economists’ expectations from 1.5 per cent to 1.9 per cent last month, basic rate taxpayers will also feel the knock on effects of the increase for some months to come. Economists have attributed this to amongst other things, rising fuel and energy costs.”

Personal Finance weblog MoneyStand.co.uk has been providing unbiased personal finance, IVA and debt related information since early 2008 specifically to help people through these testing financial times. The authors realise people are facing particularly pressing financial times and seek to alleviate this where possible by providing clear and easy to understand information.

“In times of recession individuals and families often overlook simple financial decisions that can make huge differences to their financial health.” Matt Spencer explained, “Our aim is to highlight and offer financial advice on these sensitive topics.”

For the latest financial news and advice on IVA, debt and insolvency visit our personal finance blog, http://www.moneystand.co.uk.

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Financial press releases

Spend Carefully over Christmas

During tough economic times with rising levels of personal insolvency, one UK website is offering consumers reliable, factual and helpful money advice.

Personal Finance weblog MoneyStand.co.uk has been providing information and opinions on personal finance since January 2008. The blog was created for UK consumers facing common financial issues wanting honest, up front information with no hidden agendas. The website will be launching a series of articles on seasonal spending this Friday to help consumers spend less over the festive season and start sensible budgeting.

According to a report released by government body The Insolvency Service at the start of November, personal insolvencies have risen by 28.8 percent in the past year. This figure consisted of consumers who had opted for bankruptcy, IVA or a Debt Relief Order to overcome their debt problems. Although the increase in individuals seeking personal insolvencies may be attributed to a rise in unemployment, MoneyStand.co.uk estimates that this figure will continue to rise during 2010 following excessive spending over the festive season.

Founder Matt Spencer said, “Along with Christmas and seasonal celebrations comes a heavy expense. Thousands of families across the United Kingdom will find themselves with obscene credit card bills during January and face the difficult question of how to pay it back and get out of debt.”

“We have seen a massive increase of personal insolvencies since the economic downturn and estimate the further financial pressure that Christmas brings will be the ‘final straw’ for many people already struggling with debt without careful budgeting. We urge consumers to spend carefully over the holiday season.”

MoneyStand.co.uk is a resource for anyone in the United Kingdom wanting to learn more about debt solutions such as IVA (Individual Voluntary Arrangements), bankruptcy, debt relief orders, debt management plans and consolidation loans. The weblog also focuses on debit and credit cards, budgeting and saving. In addition to as becoming a valuable source for information, the website offers practical advice on small changes consumers can make in their everyday life to make the most of their financial situation.

As well as providing information on debt solutions like IVAs and debt management, the authors share their own personal experiences with money, such as problems with banks and opinions on finance news.“MoneyStand is a financial hub for anyone in the United Kingdom who wants practical advice on managing finances and debt problems without the jargon.” Matt Spencer explained. “All articles are written by people with extensive knowledge on personal finance and all facts are taken from government websites so you can be sure the information is accurate and up-to-date.”

Since the beginning of the financial crisis, the website has noticed an increased amount of consumers seeking sensible financial advice in easy to comprehend terminology. During this time the website has committed to providing consumers the latest information on topical personal finance issues.

The website will be launching the new series of articles this Friday on helping people in the United Kingdom avoid overspending during the Festive Season.

For the latest news and advice on IVA, debt and insolvency visit our personal finance blog, http://www.moneystand.co.uk.

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Financial press releases

Is An Investing Book Worth $799?

The author is not even dead . . . yet! Better to gain ‘know-how’ than gold. But is a book worth $799? An immodest ‘yes’. Sushi Zen Restaurant, Times Square - A statuesque, charming Senior Analyst for an Chicago-based investment journal magazine, showed me a remarkable sight on her laptop.

Incredible! But there it was. Imagine my astonishment when I saw used copies of my previous book The Profit-Taker Breakthrough; selling on www.amazon.com for the price of $799.00.

Is it a joke? Is it clever merchandising? You tell me. Certainly I confess to a twinge of pride. I was flattered.

The ‘Breakthrough’ . . . the proven, rapid, money-maker in good and bad markets . . . is the detailed ‘good news’ text and workbook for Profit-Taker Strategies.

The two entrepreneurs book sellers are highly regarded five star dealers – Motor City Books of Michigan and The David Bean Books of California. Good luck to them!

I was enheartened as a writer when The Chicago Tribune headlined their review to my book with the “PROFIT- TAKER: SOLID ADVICE ON THE STOCK MARKET”, but this is special. Selling my book at $799!

Although I’m 78 years old, I’m still committed to living. They forgot I’m still breathing.

In fact, on my SCOREBOARD on www.profittaker.info which is totally free and transparent, the annualized profits are registering up to 382%.

Like most authors, no doubt, I had a few new copies of my book lying around my study. So I added a current 2009 revision. Subsequently I placed them on www.Ebay.ca at the original price for the world to see.

Professor Don Abrams

Author and Inventor of the The Profit-Taker
www.profittaker.info
profsmarba@aol.com

Prof. Don Abrams is the author of a number of published financial books, including the international bestseller…The Profit-Taker: the Proven Rapid Money-Maker in Good and Bad Markets.

P.S. Notification of The Profit-Taker Breakthrough selling on the internet at $799.00 is located at:

http://www.amazon.com/gp/offer-listing/0969821603/ref=dp_olp

The $22.95 Version is located at:
http://books.shop.ebay.ca/?_from=R40&_npmv=3&_trksid=p3910.m38.l1313&

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Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Saxo Bank, the online specialist in trading and investment, has reported its half year results showing that clients’ collateral deposits and assets under management in total exceeded DKK 25 billion and, in a very difficult year, profit before tax reached DKK 55 million.

Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Operating costs increased primarily due to new office openings, product launches, as well as contributions to the Danish State Guarantee Scheme and with unchanged income, profit before tax declined from the same period in 2008.

– Pre-tax profits of DKK 55 million (DKK 162 million).
– Operating income of DKK 969 million (DKK 969 million).
– EBITDA of DKK 128 million (DKK 221 million).
– Clients’ collateral deposits increased to more than DKK 11 billion (DKK 8 billion).
– Assets under management in the Asset Management department exceeded DKK 14 billion (DKK 0).
– The solvency ratio for Saxo Bank Group was 18.9% (10.1%).

In a joint statement, Saxo Bank co-CEOs and co-founders, Kim Fournais and Lars Seier Christensen, commented: “We did expect 2009 to be a difficult year. However, the results reassure us that we took the right decision when we chose to steer the Bank into a new phase based on a more flexible structure before the financial crisis took hold. We also find it encouraging that the Bank managed to strengthen and optimise its entire value chain, product offering and geographical footprint during what were six very challenging months for the financial markets as a whole. And, equally importantly is of course, that our new Asset Management department got off to a good start with DKK 14 billion in assets under management, a number that since has grown to DKK 16 billion”.

During the first half of 2009, Saxo Bank introduced a number of enhancements to its award-winning online trading platform, the most significant of which were related to Commodity CFD’s and FX options. In addition to a broader product offering, the Bank widened its geographical footprint and established its presence in Milan, Madrid and Prague, and acquired two Dutch broker houses and a Tokyo-based provider of FX services. In May, Saxo Bank became the first Danish bank to receive regulatory approval to operate a regional office in the Dubai International Financial Centre.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling Forex Trading for clients, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms.

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