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LONDON (AFX) - Billionaire investor Kirk Kerkorian's Tracinda Corporation said it has sent a letter to DaimlerChryslerAG offering to buy the troubled Chrysler Group for 4.5 bln usd in cash. Tracinda said it would build and strengthen Chrysler as an independent entity by partnering with the United Auto Workers and senior management of Chrysler, and would offer the UAW and Chrysler management the opportunity to participate as equity partners in the transaction. US weekly jobless claims up 11,000 to 321,000, highest in four weeks WASHINGTON (AFX) - The number of people filing new claims for unemployment insurance rose in the latest week to the highest level in a month, the Labor Department said today. First time claims rose 11,000 to 321,000 in the week ended March 31, slightly more than economists had expected.
Online trading 'safe for NRI investors'
MANAMA: Bahrain-based non-resident Indian (NRI) investors have been urged to "cut out the middle man" and use new online technology to manage their investments in Indian markets. At a high-profile launch, Indian firm UTI Securities Limited and its associate company in Bahrain, Indo-Gulf Financial Services Limited, explained the benefits of their new online trading site to an audience of business figures. Promoting the website www.usectrade.com as valuable means for NRIs to oversee their portfolios, investors were told the volume of stock transactions made online will soon overtake that of those conducted through a broker. "There are a lot of disadvantages in conventional trading, as far as the communication part is concerned," UTI Securities vice-president and e-brokering head Rakesh Singh told the GDN.
Online trading portal launched for NRIs - Bahrain
(MENAFN - Bahrain Tribune) Indogulf Financial Services yesterday launched an online trading portal of UTI Securities Ltd, www.usectrade.com targeting the non resident Indians in the Kingdom bringing the NRI investors a real time opportunity to invest in quoted companies stocks by using this cutting edge technology portal.
The Chairman of Indogulf Financial Services Mohammed Al Tajer who highlighted the salient features of this innovative service for the NRIs living in the Kingdom. Present were Vice Chairman Baboo Kewalram and experts from UTI Securities who made a presentation to give a brief look into Indian economy.
Ajit Gandhi, senior manager, UTI Securities' internet trading told Bahrain Tribune that about 4000 NRIs investors in Bahrain would get immediate benefit of this state-of-the-art portal.
Ethical investing comes to India
MUMBAI - India joined the globally growing ethical-investing force with its first socially responsible investing (SRI) fund, the newly launched Amro Sustainable Development Fund, which favors companies with high-disclosure policies on environmental, social and corporate governance yardsticks.
Crisil, one India's leading credit-rating agencies, will short-list companies for the fund by using the Standard & Poor's CNX 500 index. India's first broad-based index of the country's stock
market, it contributes to 92.6% of total market capitalization, besides 86.4% of total turnover on the National Stock Exchange, according to exchange figures.
"We believe that the availability of such products will significantly increase flows into emerging markets, but it is too early to predict how large they will be," Subir Gokarn.
ANTHONY KEANE, SMART MONEY EDITOR
Overseas travellers returning home after years abroad, thirty-somethings who spent their twenties partying, immigrants, even people in their 40s and 50s with little in superannuation, can all find themselves behind the pack in the asset accumulation game. Promises of fast money should be looked upon with caution, but there are strategies people can employ to boost investment growth. Smart Money examines five ways to potentially put your investments in the fast lane. 1. OTHER PEOPLE'S MONEY Borrowing to invest, or gearing, can be the most powerful tool for building wealth quickly. Using their home or shares as equity, people can dramatically increase the size of their asset base, and claim a tax deduction on interest they pay on an investment loan.
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