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March 24 2015

Japan signaled that it could join the Asian Infrastructure Investment Bank (AIIB) after all if certain conditions were met satisfactorily.


This is despite the United States already expressing concerns regarding AIIB and its capability to pass social and environmental standards and China's already growing diplomatic influence in the region. Still, about 30 nations, including major EU members, participated in this economic project.


Now, even the notable allies of the US -- South Korea, Australia and Japan -- are reportedly reconsidering.


Japan's Finance Minister Taro Aso announced that they are considering joining the AIIB if they can confirm that it has a "credible mechanism for providing loans". However, other Japanese senior officials remain doubtful if participating in a China-led bank could be truly advantageous.


"We have been asking to ensure debt sustainability taking into account its impact on environment and society. We could (consider) if these issues are guaranteed. We'll give it careful consideration from diplomatic and economics viewpoints. There could be a chance that we would go inside and discuss. But so far we have not heard any responses," commented Aso.


AIIB is also seen as a competitor of ADB (Asian Development Bank) which is a regional financial institution based in the Philippines. It is basically dominated by the US and Japan, with its leader customarily coming from the latter's finance ministry or the Bank of Japan.


The former president of ADB and current BOJ Governor Haruhiko Kuroda cautiously said, "There are huge needs, demands for infrastructure investment in Asia. On the other hand, the World Bank and ADB have been helping countries in Asia to improve infrastructure for the last 50 years."


Despite being a China-led financial institution that the US is warning against, AIIB got Tokyo concerned of missing out on opportunity for more regional participation, reports Corliss Online Financial Mag.


Meanwhile, Australia's Treasurer Joe Hockey said participating in AIIB has the potential to benefit local companies and should not adversely affect their relationship with the US. At any rate, he added that a final decision has yet to be made, although Corliss Online Financial Mag got reports that Australia could decide to formally join this week with as much as USD 2.3 billion in investment.


"There is a lot of merit in it, but we want to make sure there are proper governance procedures. That there's transparency, that no one country is able to control the entity. And because it's operating in our region, in our neighbourhood, it is important that Australia fully understand and look at participating in this Bank," said Hockey.

July 10 2014

Financial Tips Corliss Group Online Magazine - Top 7 Financial Tips From Nancy J. Lapointe, Navigate Financial

I was asked at a social wine event, “What are the most important tips you have learned that people typically don’t know, but need to know?”   That is a loaded question and very subjective.  Basically, you are asking me what I think people need to know and giving me permission to get on my high horse.  That sounds like fun!

1. At age 70 ½, Required Minimum Distributions are not an option on some IRAs.  You have to take the distribution. However, you do not have to spend the money.

2. Credit cards are loans and could have very high interest rates.  Avoid paying credit card interest.

3. Income is income and money is money, so leaving money in a low interest account, while paying a high interest credit card seldom makes sense, even if the money in the low interest account came from your Grandmother.  Pay yourself back at zero interest and get rid of the credit card interest.

4. A Home Equity Line of Credit is not an emergency fund.  It is an open loan with interest and it must be paid back.  It is a good stop gap measure as you build up a proper emergency fund for you situation.  An emergency fund needs to be accessible and be cash or cash equivalent.  An emergency is an event out of your control such as accidents, illness, etc.

5. An emergency is not paying your property taxes or getting new tires.  Those are expenses of living and you should plan for these types of costs.

6. A car is a mode of transportation and not a reflection on your self esteem. Be reasonable in buying depreciating assets.

7. A CERTIFIED FINANCIAL PLANNER™ (CFP®) Professional and a Broker are not interchangeable.  If the CFP® Professional is practicing according to the CFP Board of Standards, he or she is consistently striving to integrate the client’s plans with the client’s activities.  A broker is trained to manage investments and to focus on performance and investment related opportunities.

Nancy LaPointe is a financial advisor located at Navigate Financial, 4520 Intelco Loop SE, Suite 1D, Lacey WA 98503. She offers securities and advisory services as an Investment Adviser Representative of Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. She can be reached at 360-628-8175. This communication is strictly intended for individual residing in the states of AZ, CA, GA, IA, MT, NM, OH, OR, WA. No offers may be made or accepted from any resident outside these states due to various state regulations and registration requirements regarding investment products  and services.

May 31 2014

Financial Blog Corliss Group: 3 Financial Tips for Engaged Couples

Planning a wedding comes with excitement -- not to mention arguments and compromise. Many couples spend a lot of time securing the right caterer, venue, and honeymoon location. But merging two people's finances is no small feat, either, and it's even more important to plan how they will handle money together after the honeymoon is over.

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By implementing these three financial tips, you'll keep the marital arguments to a minimum and the newlywed bliss alive and well.

1. Honestly discuss your financial pasts

The goal of this discussion is to truthfully disclose everything. Tell your significant other about your income, assets, and all of your debts. This is the time to air your financial secrets; it shouldn't be a lecture about whose money management methods are better.

Use these conversations to listen without judgment and learn more about your spouse-to-be. No decisions have to be made about how to handle any of these issues. First, it's most important to disclose your past, understand your partner's, and open up the lines of communication.

Read more articles from Corliss Group Blog

2. Talk about what type of person you are when it comes to money

It's likely that one person is a spender, the other a saver. These "permitter" and "restrictor" archetypes will appear hundreds, maybe thousands, of times over the course of your marriage. But for a much more harmonious union, both partners will have to compromise when it comes to money matters. Through that compromise you'll be able to develop a game plan for how much to save, how much to spend, and how much to contribute toward goals like traveling, buying a home, and securing your retirements.

3. Craft your road map

Talk about your financial goals. Discuss how you'll construct, manage, and monitor your household budget. Determine whether you want to commingle your assets and incomes or keep them separate. Many couples choose to keep individual accounts and create one joint account for shared household expenses like rent, utilities, and groceries. Other couples commingle all of their income and have separate "fun money" accounts where they receive a certain monthly "allowance" -- say, $100 per month, to save or spend however they'd like.

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Consider a prenuptial agreement, especially if one partner comes to the marriage with significant assets or debts. Even though this can be an awkward discussion to have with your betrothed, a mutually agreed-upon plan will quash any misunderstandings or nasty situations later on. Draft the agreement, sign it, put it away, and hope you never need to use it.

Congratulations are in order

Having these conversations before you walk down the aisle will make life much easier once you're married. So carve out the time to focus on your finances now. It certainly isn't as exciting as planning your honeymoon, but your marriage will be much better off for it.

Your credit card may soon be completely worthless

The plastic in your wallet is about to go the way of the typewriter, the VCR, and the 8-track tape player. When it does, a handful of investors could stand to get very rich. You can join them -- but you must act now. An eye-opening new presentation reveals the full story on why your credit card is about to be worthless -- and highlights one little-known company sitting at the epicenter of an earth-shaking movement that could hand early investors the kind of profits we haven't seen since the dot-com days.

By Nicole Seghetti

This article is from The Motley Fool

March 14 2014

Financial Blog Corliss Online Group: Barcelona have transfer budget of up to 60 million euros

BARCELONA (Reuters) - Barcelona will have up to 60 million euros to spend on new players in the close season, according to the man in charge of their economic affairs.


"Barca is in a position to buy four players," vice president Javier Faus told Catalunya Radio. "We have between 50 and 60 million euros net for signings."


The club brought in one player last summer, the controversial signing of Neymar that prompted allegations of misappropriation of funds and tax evasion and resulted in the resignation of president Sandro Rosell.


Including a payment of 13.5 million euros to the Spanish treasury after fraud charges were laid against the club, the Brazil forward ended up costing just under 100 million euros, close to the record fee arch rivals Real Madrid paid for Wales winger Gareth Bale last year.


Barca did not sign anyone in the January transfer window, disappointing some fans unhappy with a series of shoddy displays in defence.


At the least, the Spanish champions will need replacements for goalkeeper Victor Valdes and captain and central defender Carles Puyol who have said they are leaving at the end of the season.


There are also question marks over the futures of reserve goalkeeper Jose Manuel Pinto and full back Martin Montoya because their contracts expire in June.


Borussia Moenchengladbach sporting director Max Eberl hinted in January that Marc-Andre ter Stegen would replace Valdes after the Germany keeper rejected a contract extension with the Bundesliga club.


The 21-year-old has a contract until 2015 but Eberl said he had turned down a new deal and the Bundesliga outfit had decided to allow him to join "a top European side".


Barca may be in the market for a second new centre back as academy graduate Marc Bartra has yet to win the full confidence of coach Gerardo Martino.


Follow us at CorlissGroupMag for latest news about stock-market.


March 05 2014

Corliss Group Online Financial Mag Hong Kong ZTE to launch new phones at Barcelona Mobile World Congress                         

Chinese mobile phone maker ZTE announced on Tuesday that it will use the Mobile World Congress in Barcelona next week to launch its new Grand Memo II, as well as the new ZTE Open C smartphone which runs on Firefox OS 1.3, and a new MiFavor 2.3 interface.

The company's general director of mobiles and executive vice-president of the corporation, Adam Zeng commented that this year the company was working to collaborate more closely with its clients throughout the world and developing products.

He added that at the 2014 Mobile World Congress, which opens in Barcelona on Feb. 24 and closes on Feb. 27, the company will present these new devices in collaboration with Mozilla and Spanish telecommunications giant Telefonica, which is the biggest network provider in Spain and which has a massive presence in Latin America and other parts of the world.

"We are certain 2014 will be our year," said Zeng.

ZTE will use the congress to show off its full range of mobile devices, among which are the Grand S II smartphone, the Blad range and the Nubia range, which in December last year outsold Apple, Samsung and Nokia on the Jingdong Mall online store in China.

The company will also be displaying devices for mobile hotspots and a new smartwatch.

Corliss Group Online Financial Mag Hong Kong ZTE to launch new phones at Barcelona Mobile World Congress

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March 04 2014

Corliss Group Online Financial Mag Hong Kong World's first physical bitcoin store opens in HK         

The world's first physical retail store selling the controversial virtual currency bitcoin has opened in Hong Kong.

The 40-square-meter shop, located in the western district of Sai Ying Pun and operated by Asia Nexgen Bitcoin Exchange, officially opened for business on Feb. 28. The local exchange holds a money service operator license from Hong Kong's customs and excise department.

The Hong Kong Monetary Authority views bitcoin as a virtual commodity as opposed to a virtual currency, which therefore enables Asia Nexgen to accept payments to acquire bitcoin the commodity, not bitcoin the currency.

Customers must first provide an ID card and proof of address to comply with customs and excuse rules on money laundering before they can make a transaction at the store through their digital wallets.

The first customer to the store following the ribbon-cutting ceremony spent $HK100 (US$12.90) to purchase roughly 0.022 bitcoins, according to market rates listed on the US-based CoinBase exchange at the time.

Ken Lo, co-founder and CEO of Asia Nexgen, said the store could help raise the popularity of bitcoin. "The biggest issue people have right now is buying the bitcoin. People have to put money in, trade it through an exchange online," he said.

"Now, you walk into the store, hand over your cash and send the bitcoin to your digital wallet," he added.

The store opened on the same day that Japanese bitcoin exchange MtGox was forced to file for bankruptcy protection after claiming to have lost nearly half a billion dollars' worth of bitcoins in an alleged theft last Tuesday.

Lo said the MtGox debacle was only "a drop in the bucket" and that there is no "shortage of demand" for bitcoins at the moment.

Bitcoins were trading at around US$572 on Coinbase on Sunday.

Late last year, China's central bank stated that bitcoin was a digital currency and prohibited third-party payment processors from providing bitcoin transaction services.

Corliss Group Online Financial Mag Hong Kong World's first physical bitcoin store opens in HK


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March 01 2014

Corliss Online Group Financial Mag: Can Hong Kong Solve Scotland’s Currency ‘Fankle’?

Scottish nationalists are in a quandary: how to dissolve the three-century bond with the United Kingdom while preserving their monetary link with the British pound.

And Hong Kong may provide the answer.

Nationalists want to retain the British pound if they win September’s independence vote, but U.K. political leaders ruled out sharing sterling earlier this month. They fear taxpayers would have to back Scotland in times of economic trouble, much as shared use of the euro forced Germany to bail out Greece.

Ditch the union if you want, but say goodbye to sterling, is the message from London.

This creates a bit of a fankle – a Scottish term for a state of disarray, even panic – for the Scottish nationalists. But they may have another card to play.

A currency board could allow Scotland to effectively keep the pound even without consent from the Bank of England, said John Greenwood, the chief economist at Invesco who helped design Hong Kong’s dollar peg, which has held for 31 years.

“If Scotland were to set up a currency board for a Scottish pound that remained at parity (1:1) with the English pound, the trade, current and capital account balances of Scotland would remain broadly unchanged, unless there was some major change in the economic circumstances of either country,” he said in an email.

This arrangement would require sufficient foreign reserves in British pounds to fully cover the amount of currency in circulation and the total held on deposit by commercial banks for interbank clearing transactions. Hong Kong, for example, holds $312.2 billion. See more Financial News

Some naysayers argue it might be hard for Scotland to build up such reserves.

Nomura, in a research report, contends that raising the required amount of reserves could be a “painful” process for Scotland. The bank asks how much of the U.K’s foreign reserves an independent Scotland would be entitled to in the event of a breakup, estimating that a share proportional to the size of the Scottish economy would only provide $4.5 billion, or about 7% of the total reserves needed for a currency board. Scotland may also have to negotiate to draw down its share of the U.K.’s reserves held by the IMF.

A currency board might also make the Scottish pound vulnerable to speculative attack. Defending a currency board against short sellers can be politically painful, said Joseph Yam, a research fellow at the Chinese University of Hong Kong who as chief executive of the Hong Kong Monetary Authority, fought off speculators including George Soros’ Quantum Fund during the Asian Financial Crisis.

“In the case of capital outflow, for whatever reasons, interest rates could rocket to very high levels and severe pain correspondingly inflicted on those shorting the currency as well as the economy; the latter may be so politically unacceptable as to lead to political pressure to abandon the currency board arrangement,” he said in an email.

The Hong Kong Monetary Authority declined to comment on whether it had been consulted over a Scottish currency board.

Britain has been beaten by speculators before.  George Soros’ attacks on “Black Wednesday” in 1992 forced the U.K. to break its fixed exchange rate with the precursor of the euro, trashing the economic credibility of the British conservative government, which would spend 13 years out of power.

The Bank of England hiked interest rates from 8.8% to as much as 15% before capitulating. Current Prime Minister David Cameron, then aged 25, worked behind the scenes on the government’s policy response.

Mr. Greenwood agrees that speculative attacks would be possible. However, he said, “If Scotland were to follow the disciplines of Hong Kong in relation to fiscal policy, banking soundness, and the avoidance of leverage then there should be nothing to fear, and the Scottish pound could maintain parity with the English pound.”

Hong Kong defended its peg during the Asian crisis by buying up HK$118 billion of stocks and index futures, a move which later drew praise from Mr. Soros himself.

The above article is a repost from WSJ

February 04 2014

The Corliss Online Group Financial Magazine: "Financial Planning Tips"

“Financial Planning Tips,” A New Article On Vkool.Com, Teaches People How To Create A Personal Financial Plan Easily - V-kool

The new “Financial Planning Tips” article on the site Vkool.com instructs readers how to create their own basic financial plan effectively.

Seattle, Wa (PRWEB) February 01, 2014

The new “Financial Planning Tips” article on the site Vkool.com delivers to people helpful tips on how to create a financial plan within a short period of time. At the beginning of the article, the author recommends people to determine their current financial situations. People need to have a thorough understanding of their current financial situation in order to formulate well-informed and realistic goals. Moreover, if people take a detailed look at their situation, they can identify specific changes they could make to change their situation and achieve their goals. Then, the author indicates that setting goals are important and usually used to measure success. The earlier people start planning for their financial future, the sooner they will reach their goals. Developing goals will give people a direction for their plan and a destination toward which they want to head. The goals should be measurable, specific, attainable, specific, realistic, and time-based. There are different types of goals, including short-term, intermediate, and long-term goals. When people develop each of these goals, they will achieve successes early in their plan while still keeping their eyes towards the future. Furthermore, when creating the financial goals, people should consider some obvious objectives, such as retirement investments or monthly savings. They also need to differentiate between necessities and wants in order to establish priorities effectively.

Additionally, this author indicates that people should know their weak points in order to avoid the triggers which make them spend more or save less. In fact, life is about change. Good or bad things could impact their financial planning. Therefore, planning for the unexpected could reduce the effects of disastrous events, including a house fire, a job layoff, or a chronic illness. In addition, the writer encourages readers to take advantages of retirement investment options in order to avoid making hasty decisions. In other words, this writing covers many other financial planning tips that people can apply instantly. After the “Financial Planning Tips” article was launched, a large number of people can create and implement their financial action plan effectively.

Quyen Dang from the site Vkool.com says that: “The new “Financial Planning Tips” article is actually informative that includes a lot of cutting-edge techniques on how to find life purposes quickly. The techniques this article delivers are simple-to-follow for most people regardless of their age and their gender.”

If people want to get more detailed information from the full “Financial Planning Tips” report, they should visit the website: http://vkool.com/financial-planning-tips/


About the website: Be developed by Tony Nguyen, Vkool.com is the website providing readers with useful tips about many subjects, including health, fitness, entertainment, and lifestyle. Readers could send their ideas to Tony Nguyen on any subjects via email.

For the original version on PRWeb visit: http://www.prweb.com/releases/financial-planning/tips/prweb11538419.htm

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