There are scores of small time businessmen in India who have been depending on Paypal to get their dollar payments from various clients across US and Europe in the last few years. Since January 28th, Paypal has stopped all internal remittances into India , which has put the business of all these people under question abruptly.
Now Paypal is confident of resuming business payments into India from March 3rd, which is just three days away, with a key change in the current process.
Users will have to provide a valid Import Export Code (called IE code) , which is provided by the Directorate General of Foreign Trade (DGFT), a government department. Obtaining an IE code is a cumbersome process which takes at least three or four visits to the DGFT office, plus the routine government office related actioning from the applicants.
Even if everything goes through on time, you may still get your IE code only after three or four weeks.
And Paypal is expected to upgrade their software with the new provision, which is yet to happen. So nothing seems to be going right for India Paypal users as of now.
One silver lining seems to be the continuing Cheque based withdrawal facility by Paypal, which is slightly riskier as it would reach you anytime after three or four weeks, and Paypal does not guarantee that it would reach you at all.
The inflation in the price of essential commodities and also the industrial products cuts down the economic cycle and that is exactly what is happening in India. India is seeing a massive spike up in overall inflation in the recent months, with the January 2010 figure at 8.56%.
The food prices have been spiking up due to failed monsoon, while Industrial product prices are going up due to low base effect of last January. So expect further monetary tightening by the Central Banker to the country in the coming months.
Every employee contributes every month towards social security disability fund, which is administered by the US government.
And when you are disabled at any point of time in your life, you can seek compensation from this fund.
You can learn more about the benefits of this scheme by logging into www.allsup.com.
The website will be able to guide you in all related aspects, at the click of few buttons on your computer mouse.
Are you one among the millions of people in America, burdened by a high amount of debt? If you are not able to manage your debts properly, you ought to take professional help. Go online and find the people who will give you the best solutions in debt settlement . Approach the right people and don’t let your debt amount go over your head.
Once the professionals take over, they evaluate your current unsecured debts skillfully. There are debt management and debt settlement programs that will get you on track for financial freedom. There are programs to lower your interest rate, stop late fees, reduce minimum payments or settle your debts.
The debt counseling program will help you establish a debt repayment plan with your creditors. This is often done at reduced interest rate and reduced monthly payments. There are professional Debt Negotiators who will do the negotiation with the creditors. It is an extremely practical choice in tough economical times. This will help you pay less than you owe.
Go online and learn more on how you can manage your debt. Debt settlement has many benefits. You can choose from a variety of programs. Each program depends on how fast you want to be debt free and what you can afford.
Employees of US bank majors including Goldman Sachs , would be receiving a massive 140 billion dollars as bonus money this year, which is at least 40% more than what they got last year. These banks have survived the global collapse only due to the bailout by the taxpayer’s money, and also due to the massive interest rate cuts by US FED.
But , in contrast, the 57 million social security benefit receivers will receive just a one time bonus of 14 billion.
The US banking industry definitely needs to be brought under direct control of the regulatory authority, and reckless bonus payouts have to be stopped immediately.
Californian state bonds were badly in demand just few years back, when the US economy was riding high. But the sub-prime crisis and the Lehman collapse last year have brought a sea change to all that.
Now California government has been forced to raise the yield on the new series of bonds it wants to sell in the market, because there were no takers at the indicated yield. The government has also been forced to cut down the total bond value to 4.1 billion dollars due to lower demand.
The California government , like many other US states, is running on huge budget deficit and it has to continue to borrow money from the market at high interest rates for many more months to come.
Many of us have financial problems when the expenses go beyond the income.
You can get a personal loan to relieve your debt.
There are different kinds of loans. There are both secured and unsecured personal loans. The secured personal loans are more cost effective because of lower monthly interest rates. You can have a longer repayment term.
With the rising inflation we come to a situation when taking a personal loan is the wisest decision. There are personal loans for people with a bad credit. A personal loan is given in most cases without any kind of security.
You can get loans when there is a sudden need for money. Before the payday there may be a need for money o pay some bills or school fees or anything else. In such situation the personal loan is like a ray of hope.
You can apply for credits cards online. The application process is an easy one. Some of the credit cards requires $ zero activation fee. It has 100% guaranteed approval. The credit cards are issued by reputed and world class banks.
You want to buy a car but are you short of money? Not to worry because you can avail of auto loans. You can request online and your application will be immediately approved. You can get all types of loans under one roof. Use the internet to search for an online site and get all the information you need.
The Venezuela government does not have enough Dollars to pay for it’s imports, and hence it is planning to issue three billion dollars worth of government bonds in the coming days.
Over the last few months the Venezuelan currency has seen a sharp drop due to shortage of US dollars and scramble for it by most of their importers. The crash in crude oil prices from 130 dollars a barrel to less than 70 dollars a barrel has pulled down the economic condition of Venezuela in the last one year.
This country may not be able to improve the currency value unless the crude oil prices recover, which seems unlikely in the near future.
When the going is good, smart people en-cash their profits. That is precisely what is being done by Singapore Government Investment corporation, the sovereign wealth fund of the Singapore government. It sold nearly 1% of the Citigroup stake in the last few weeks and booked a neat 1.6 billion US dollars of profit from the deal.
The fund still holds around 4% equity in Citigroup which it may offload in the coming months, after considering various factors.
Is this a prelude to the bigger collapse that can happen to the US banking system in the near future ?
The US FDIC , the Federal Deposit Insurance Corp that guarantees the deposits in US banks, is now in deep trouble with the reserve fund near zero due to 94 bank closures in the last nine months. The US FDIC was very healthy till Lehman Bros collapse happened last year.
Against 25 bank closures in the entire 2008, the FDIC has seen 94 bank closures in the first nine months of 2009, which is eating into its reserves. Now the FDIC is planning to tap either the reserve backup from US FED or apply a new fee on bigger banks to generate additional funds.
Either way it is not a good sign for the US banking system because the US FDIC will continue to face tough times till 2010 end as US banks collapse may continue.
