Currency Trading In India}

Submitted by: Surbhi Choudhary

Different economies are linked with each other in concern of FDI and FII that promote the ultimate growth of the economy. Forex is an international market that facilitates trading in different currency pairs. At domestic or national level, there various Exchanges are available that provide a platform for Currency trading tips like in India NSE (National Stock Exchange), MCX-SX.

In both this exchange mainly 4 currency pairs are traded on its Derivative contract.

This are

Currency Pairs LOT Size

USDINR 1000

EURINR 1000

[youtube]http://www.youtube.com/watch?v=gRmQZKhG2co[/youtube]

GBPINR 1000

JPYINR 1000

As derivative is the contract whose value is derived from underlying assets in currency, future underlying asset is the RBI Reference rate in the spot market. In this above pairs an individual or institution can work on a future contract and buy or sell fix minimum quantity i.e. Lot Size.

In this above currency pairs 1st currency is the base currency and 2nd currency is counter currency, like USDINR that represent the value of INR in 1 US dollar.

NSE has launched its currency, future trading platform on 29 August 2008 and introduced currency option trading on 29 October 2010.

As in NSE currency trading occur on its future contract that has particular expiry date, i.e. Two working days prior to the last working day of the month. If it is holiday on that day, then preceding day would be expiry at 12:30 PM and the contract cycle that exchange follow is for 12 months.

To trade in currency derivative an individual doesn’t need to pay the full amount. He just has to pay an initial margin amount that is 2-5% to buy or sell a single lot of any pairs. Like suppose the current market price of USDINR September contract is 66.59 and an individual want to purchase a single lot of that then

66.59*1000 =66590 its 2-5% = 2330.65 (Approx) would be the investment required to buy or sell a single lot of USDINR.

As derivative is the contract between buyer and seller of contract that facilitate the delivery of the underlying asset on future dates. The main purpose of currency derivative is also for Hedging Arbitraging and speculation like stock futures contract that facilitate to different investor, trader or investment institutions to avoid the risk of price uncertainty.

Dig. Currency Derivative Mechanism

In this above Example buyer making a contract by paying an initial margin of 2-5% to exchange that before or on expiry of the contract will buy or accept the delivery of 1000 USD from seller.

And the seller making a contract by paying an initial margin of 2-5% to exchange that before or on expiry of the contract will deliver the 1000 USD to Buyer of the contract.

In Indian Currency market, there are different investor are there with different profile like some of them are individual trader and some are investment institutions. Like for different oil and gas industries international currency is required to purchase or import crude oil. Thus, this Oil & gas corporations also invest in the currency market to reduce the risk of price uncertainty.

About the Author: Signature Surbhi Choudhary [E-MARKETING EXECUTIVE] | Ways2Capital Provides MCX tips, intraday stock tips, NCDEX tips, forex tips, commodity tips . We also provide full support during market hours. | TO GET MORE DETAILS- VISIT US ON

ways2capital.com

| CONTACT US ON 0731-6554125

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South African prosecutors charge ANC leader Jacob Zuma with corruption

Saturday, December 29, 2007File:JacobZuma.jpg

Corruption-related charges have been brought against Jacob Zuma, the newly-elected leader of the African National Congress (ANC), according to his lawyer. A trial is scheduled to begin on August 14, 2008.

The charges stem from an arms deal with a French company, which is alleged to have involved bribes and fraud. Zuma’s financial adviser at the time, Schabir Shaik, was convicted in 2005 of attempting to solicit a bribe of US$72,500 per year from the arms company on Zuma’s behalf and was sentenced to 15 years in prison. Zuma was fired as deputy president in 2005 by South African President Thabo Mbeki due to the scandal.

Two-term ANC leader Mbeki recently lost an ANC leadership contest to Jacob Zuma, who garnered about 60 percent of delegate votes in his win.

Zuma had been charged with corruption in 2005, but the case was dismissed on procedural grounds. Michael Hulley, Zuma’s defence lawyer, indicated that they will strongly contest the new charges in court. Hulley also suggested that the South African government’s National Prosecuting Authority (NPA) and its anti-organised crime division known as The Scorpions, have carried out a smear campaign against Zuma.

“These charges will be vigorously defended, in the context of the belief that the Scorpions (NPA) have acted wrongly and with improper motive calculated to discredit Mr. Zuma and ensure that he play no leadership role in the political future of our country,” said Michael Hulley in a statement.

Given that the ANC has been the governing party in South Africa since the end of apartheid in 1994, it is likely that Jacob Zuma could become the next president after general elections in 2009. Zuma has said, however, that he would resign if he was found guilty by the courts.

Retrieved from “https://en.wikinews.org/w/index.php?title=South_African_prosecutors_charge_ANC_leader_Jacob_Zuma_with_corruption&oldid=4538626”

Lula’s future in the hands of Brazilian Parliament

Sunday, June 12, 2005

The government of Brazilian President Luiz Inácio Lula da Silva is in a severe political crisis. The crisis began after the exposure of a series of scandals which involve the Workers’ Party, the Brazilian ruling party.

In 2002, Celso Daniel, the mayor of Santo André, 10 km (6 miles) away from the São Paulo city, was murdered. Daniel was a member of the ruling Workers’ Party. The mayor’s brother says that Daniel died because he was in disagreement to a supposed bribe conspiracy organized by some Workers’ Party members. The case remains under investigation by police.

In 2004, the former adviser to the government of President Lula, Waldomiro Diniz, was accused of negotiating with “bicheiros” (men who deal with: “Jogo do Bicho”, or illegal gambling) and extorting money for Workers’ Party (PT) electoral campaigns. A supposed victim of extortion released a tape exposing Diniz. The tape’s authenticity has been verified by experts and it was aired by the major Brazilian television stations. A Congressional special commission was proposed by non-government parties so the denunciation could be investigated. The government succeeded in stopping the creation of the commission.

On March 16, the leading Brazilian magazine Veja published a story saying that according to documents of the Brazilian Agency of intelligence (Abin) the Workers’ Party received 5 million dollars to be used by political campaigns of their candidates in 2002 from the Colombian communist armed group Revolutionary Armed Forces of Colombia (FARC-EP). Abin said that the documents were not authentic.

Last month, some men, supposedly involved in illicit negotiations with the Brazilian Post Service recorded a video which shows former Post Office Chief, Maurício Marinho, during a supposed bribe negotiation. In the tape, Marinho receives and puts in his pocket R$3,000 (about 1,259 USD) in cash. He insinuates that the scheme is commanded by deputy Roberto Jefferson. The recording was aired by the major Brazilian television stations.

Roberto Jefferson is the president of the government-allied Brazilian Labor Party (PTB). Lula da Silva said in a earlier occasion that he “would give to Jefferson a bank check in blank”, what means that he had high confidence on Jefferson.

Still related to the Post Office case, on June 2, Lídio Duarte, the former president of IRB, a government enterprise, denied allegations that money from some Brazilian government enterprises was going to PTB, Jefferson’s party. An earlier story published by magazine Veja, said that Duarte was a victim of extortion by a representative of PTB. According to Veja, Duarte resigned from the Presidency of IRB, because he had difficulties in continuing to give more money to PTB. Lídio denied this story to the police, and furthermore he said that he never have had an interview with Veja’s journalists.

On June 8, the magazine Veja released for download in its webpage, an audio tape where it can be heard the voice of Lidio Duarte during an alleged interview to Veja. In the tape, Lidio Duarte talks about being under pressure because someone was asking him more contribution in money for PTB. The tape contradicts the Duarte’s testimony to the police and because of that, he became subject of investigation by the authorities. The name of the deputy Roberto Jefferson is cited by Duarte in the alleged recorded interview to Veja.

After the Post Office scandal been exposed, the Brazilian Congress proposed the creation of a Congress’ special commission, so it could be investigated by the Parliament. The government, however, protested against it, arguing that political adversaries were anticipating the dispute to the next election for Brazil’s Presidency. Workers’ Party senator Eduardo Suplicy protested in Senate against his party decision. Because that he was very criticized and he got subject to punishment by the Workers’ Party.

On June 6, Roberto Jefferson told the Brazilian newspaper Folha de São Paulo that the ruling Workers’ Party (PT) has payed Brazilian deputies 30 thousand Brazilian Reals (US 12 thousand) each, every month. The stock markets went down and the U.S. Dollar increased its value in relation to the Brazilian Real. A new Congress’ special commission was proposed by some Brazilian senators, so Jefferson’s allegations could be investigated. The Workers’ Party says that Jefferson’s allegations were untrue and that he had no proofs.

After Jefferson’s denunciation the focus of the scandal moved to the government and the ruling Workers’ Party. Because the government were under pressure, the Workers’ Party changed his earlier decision of stopping the creation of a Congress’ special commission for the Post Office scandal. The proposal for the creation of a Congress’ special commission for the Post Office scandal was approved.

On June 9, there was the first meeting of members of the Congress’ special commission for the Post Office scandal. Because of unsolved disputes between government’s parliamentarians and the other parties representatives, the meeting could not continue. The government’s block argued that it must choose the president and the report for the commission, since the government commission members are the majority. Other parties argue that according to Parliament tradition the government should choose one member for the presidency or report and the opposition should choose the other member.A new meeting was scheduled to the next week, on Tuesday, June 14.

Besides these scandals, the current Social Security Minister, Romero Jucá, is accused of havingoffered seven non-existent farms as guarantee for a financing from the Banco of Amazonia, among other denunciations of misuse of public loans. The current President of Brazilian Central Bank, Henrique Meirelles, is accused of financial fraud among other accusations. Also there is a denunciation of a irregular transference of founds of Central Bank to the construction of a new headquarter for the Workers’ Party.

On June 4, during the so called Curupira operation, the Brazilian Federal Police arrested members of IBAMA, a Brazilian agency for environment. Among other accusations, they are accused of selling irregular licenses for deforestation in Amazon. At least one of the suspects, a Workers’ Party affiliate, is under suspection of have used the money for the political campaign of a Worker’s Party candidate in Mato Grosso.

Besides the commission to investigate the Post Office scandal, another Congress’ special commissions were suggested by non-government members of Brazilian Senate: a commission to investigate the IRB scandal and another one to the investigation of Roberto Jefferson’s allegations. Also, it is expected that the Brazilian Courts rule against the earlier government decision of stopping the creation of a commission for the investigation of the alleged Waldomiro Diniz scandal.

Retrieved from “https://en.wikinews.org/w/index.php?title=Lula%27s_future_in_the_hands_of_Brazilian_Parliament&oldid=2470978”

Car bomb in Ciudad Juárez, Mexico kills several, many injured

Saturday, July 17, 2010

A car bomb that exploded at about 20:00 MDT Thursday (01:00 Friday UTC) in a violent area of Ciudad Juárez, Mexico killed several people and injured more.

Police spokesman Jacinto Seguro said Friday that Mexican federal police received a call that an officer was dead. Seguro went on to say, “When they went to check the car, there was a dead body in there, dressed up like a police officer, but it wasn’t one of ours. They put him in a civilian car but dressed him up in a municipal police uniform. That’s when the bomb went off. It’s like an act of terrorism.”

Federal police spokesman Ramon Salinas said the blast killed two officers, a paramedic, and one civilian, although Mayor Jose Reyes said that only three died. At least six others were injured, although reports have said the total injured may be as high as sixteen. Four remain in the hospital, including three paramedics and one civilian.

Mexican authorities say it was a car bomb, but counter-terrorism experts are still unsure as to what caused the vehicle to explode. Intelligence expert Fred Burton said, “For this to be an improvised grenade attack, in some capacity, it doesn’t surprise me.”

The Juárez Cartel, one of the two drug-traffickers in the area, claimed responsibility for the bombing in a graffiti message. “We have more car bombs,” the graffiti said.

Ciudad Juárez has a history for trafficking drugs to the United States, especially into Texas.

Before the explosion, the police arrested a suspected leader of the Juarez cartel, Jesus Armando Acosta Guerrero.

This year more than 7,000 people have died as a result of drug-related violence in Mexico since this year began. Attorney General Arturo Chavez on Friday said nearly 25,000 people have died in the last three and a half year period.

Retrieved from “https://en.wikinews.org/w/index.php?title=Car_bomb_in_Ciudad_Juárez,_Mexico_kills_several,_many_injured&oldid=4629248”

Aspects Of An Effective Financial Advisor

By Adriana J. Noton

These days a financial advisor is being used by individuals as well as businesses. Tax laws have become more complex in many countries and individuals are often uncertain about how to plan for disability, health problems and death. Another important aspect of these professional services is that they offer support and advice about stock management and investment. Employing an expert to help can improve the quality of your life in the long run, whether you’re an individual or a business person. Having the knowledge that you’ve prepared for the future can improve your serenity, while using your money well in investment can yield you results that can lead to a higher standard of living.

This expert is someone who advises you on how to allocate your assets. He must understand your need for security and your personal position with your finances before he’s able to render a good service. Once that knowledge is established, you can both move forward to begin planning your future regarding your finances.

These professionals will charge in a few differing ways. Some work on a fee-only basis, which means they are paid hourly. Others won’t charge anything but will instead take a commission on what you’ve earned through investments. A new way of planning has recently emerged which offers advice to lower income groups online. Usually they don’t charge but are instead paid by philanthropic organizations.

[youtube]http://www.youtube.com/watch?v=I2MJ51j65uY[/youtube]

Advisors should hold a license relevant to your particular country. You should also select one who is regulated by an authority and has passed a test by that organization. These are important aspects to look for because anyone can work in this profession without qualification or regulation.

You can also look at the company the professional works for. Some work for large corporations with excellent track records while others may have their own businesses. The latter is not necessarily a bad thing as long as this person has been highly recommended to you.

The suburb or town the professional works in is also a consideration. Having one who works close to your home will allow personal interaction that can be valuable. However, if you can’t find a suitable individual close to your home, it’s not unheard of to use one further away.

Your personal needs combined with the particular brand of the professional’s experience is another aspect to consider. You may want to concentrate on investment, in which cause you’ll benefit from someone with plenty of experience in that particular area. You may need help in a more specialized field such as estate planning, in which case you’ll need someone who works in only a couple of areas.

In some countries a kind of indemnity insurance exists to protect you from negligence or poor decision making. It’s important to find out what kind of insurance the advisor has before selecting one. Large companies are more likely to have better insurance.

Some advisors are only willing to deal with large sums of money, so this will be another point to consider. There are lists of advisors available online for some countries which will make your search far easier and faster. Employing a financial advisor is sure to add to your sense of security.

About the Author: Looking for a

financial planner Guelph

or

financial advisor Collingwood

? Be sure to find the right investment advisor who can devise tailored strategies to meet your financial objectives.

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isnare.com

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Irish woman wins record lottery jackpot

Saturday, July 30, 2005

A woman from Limerick, in the Republic of Ireland, has won a record European lottery win on the EuroMillions cross-European lottery draw. Delores McNamara won €115.6 million, tax-free in the game, after the jackpot had rolled over un-won for 9 weeks.

The Garryowen woman will have to wait until at least Tuesday, August 2nd, to claim her winnings, as the Irish National Lottery offices are closed for the August Bank Holiday.

Retrieved from “https://en.wikinews.org/w/index.php?title=Irish_woman_wins_record_lottery_jackpot&oldid=523385”

Iranian International Master Dorsa Derakhshani discusses her chess career with Wikinews

Tuesday, April 14, 2020

In February 2017, the Iranian Chess Federation announced two teenage chess players, Dorsa Derakhshani and her younger brother Borna Derakhshani, were banned from representing the national team. The federation announced their decision although Dorsa Derakhshani had previously decided and informed the chess federation she did not wish to play for Iran.

Dorsa Derakhshani is currently 21 years old and holds the International Master (IM) as well as Woman Grand Master (WGM) titles. Her brother, Borna, plays for the English Federation and holds the FIDE Master title.

Dorsa Derakhshani was banned since she did not wear a hijab, an Islamic headscarf, while competing at the Tradewise Gibraltar Chess Festival in January 2017. Under the laws of Islamic Republic of Iran, hijab is a mandatory dress code. Her brother Borna Deraskhsani was banned for playing against Israeli Grand Master (GM) Alexander Huzman at the same tournament. Iran does not recognise the existence of Israel, and previously, Irani athletes have avoided playing against Israeli athletes.

Mehrdad Pahlavanzadeh, the president of the country’s chess federation, explained the decision to ban the players saying, “As a first step, these two will be denied entry to all tournaments taking place in Iran and in the name of Iran, they will no longer be allowed the opportunity to be present on the national team.” ((fa))Farsi language: ?????? ????? ?? ??? ??? ?? ??? ????? ?? ?? ???? ???????? ?? ?? ????? ? ?? ??? ????? ?????? ??????? ????? ??????? ? ???? ???? ???? ?? ??? ??? ?? ??????? ????. He further stated, “Unfortunately, something that should not have happened has happened and our national interest is paramount and we have reported this position to the Ministry of Sports.” ((fa))Farsi language: ????????? ?????? ?? ????? ????????? ?????? ??? ? ????? ??? ?? ?? ?? ???? ?????? ???? ? ?? ??? ???? ?? ?? ????? ???? ?? ????? ?????.

IM Dorsa Derakhshani, who currently studies at Saint Louis University in the United States and plays for the United States Chess Federation, discussed her chess career, time in Iran and the 2017 controversy, and her life in Saint Louis with a Wikinews correspondent.

Retrieved from “https://en.wikinews.org/w/index.php?title=Iranian_International_Master_Dorsa_Derakhshani_discusses_her_chess_career_with_Wikinews&oldid=4583918”

Iraqi deputy health minister kidnapped

Sunday, November 19, 2006

Deputy to the Iraq Health Minister, Ammar al-Saffar, who lives with his sister in Baghdad’s Sunni neighbourhood of Adhamiya, was kidnapped today.

It is reported that six uniformed men and others wearing suits, arrived at Mr Saffer’s home in police cars and pickup trucks and took him off.

As one of the deputies to the Health Minister, Mr Saffer called earlier this year for as much as $8 Billion to restore Iraq’s health services.

On August 9, 2006, Mr Saffar discussed the health situation in Iraq with the BBC. He said that the insurgents were killing doctors and trying to create a brain drain. 100 doctors had been killed “because they were trying to help people and because they were Shia”. He said that there are about 18,000 doctors in Iraq but many have left, while others practice at home rather than at hospitals where they could be better protected. Under Saddam they were not permitted to leave, now there is no restriction. But now there are cash incentives: under Saddam they earned $2-3 a month, now they can earn up to $500 a month. On security, he said that the people blamed the US for the violence because, although they were responsible for security, they left the borders poorly guarded.

Mr Saffer survived an assassination attempt in June, 2004 when he was fired upon as he left his home. He was uninjured.

Retrieved from “https://en.wikinews.org/w/index.php?title=Iraqi_deputy_health_minister_kidnapped&oldid=1985103”

Virginia Prince William County Dui Reckless Driving Speeding Lawyers Attorneys

Virginia Prince William County DUI Reckless Driving Speeding Lawyers Attorneys

by

Atchuthan Sriskandarajah

Charles v. Commonwealth of Virginia

Facts:

Charles was convicted in the Circuit Court of Prince William County of DUI in violation of Va. Code Ann. 18.2-266. He had previously pled guilty to speeding in violation of Va. Code Ann. 46.2-870. Both charges arose from the same course of driving. He asserted that the DUI conviction was barred by Va. Code Ann. 19.2-294.1 because the speeding conviction constituted a conviction for reckless driving.

[youtube]http://www.youtube.com/watch?v=gIJAZ90Dk8o[/youtube]

Issue:

Whether the DUI prosecution and conviction were barred by the speeding conviction because, under Code 46.2-862, the speeding conviction constituted a conviction for reckless driving?

Discussion:

The Court held that

reckless driving

and speeding were separate and distinct offenses. If the legislature had intended to foreclose a person from being convicted for both DUI and another offense that might also constitute reckless driving, as argued by defendant, it would have expressed that intent in the language of Va. Code Ann. 19.2-294.1. Under the express provisions of 19.2-294.1, only a conviction for reckless driving barred a prosecution for DUI. A conviction for speeding, even if premised on an underlying act that may have warranted a conviction for reckless driving, did not implicate the bar of the statute. Defendant was charged and convicted for speeding under a town ordinance incorporating Va. Code Ann. 46.2-870. He was not convicted of

reckless driving

. Although the Commonwealth could have prosecuted defendant for reckless driving for that offense, it chose instead to prosecute him for the offense of speeding.

Disclaimer:

These summaries are provided by the SRIS Law Group. They represent the firm s unofficial views of the Justices opinions. The original opinions should be consulted for their authoritative content

Atchuthan Sriskandarajah is a Virginia lawyer and owner of the SRIS Law Group. The SRIS Law Group has offices in

Virginia

, Maryland, Massachusetts, New York, North Carolina & California. The firm handles criminal/traffic defense, family law, immigration & bankruptcy cases.

Article Source:

ArticleRich.com

Disney theme parks to rid trans fats internationally

Thursday, October 25, 2007File:Entrance of Disneyland Paris.jpg

Walt Disney Resorts in Paris, Hong Kong, and Tokyo will eliminate trans fats from all food served at the parks by 2009.

This move comes in addition to ridding foods of trans fats at Disneyland in California and Walt Disney World in Florida, by the end of this calendar year. The American parks began to take action a year ago, as a response to nutritionists. Healthier options such as low-fat milk and baby carrots have been added to the menu, to increase guest choices.

Disney Consumer Products has already licensed the company’s brands to healthy prepared food products in Canada, via Sobey’s grocery stores’ Compliments label, while Tesco supermarkets will start offering similar foods next month.

As concern over childhood obesity grows, many companies are taking steps to cleanup their act, and gain the trust of customers. Trans fats have been linked to coronary diseases.

Retrieved from “https://en.wikinews.org/w/index.php?title=Disney_theme_parks_to_rid_trans_fats_internationally&oldid=3646198”