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(Reuters) - European shares saw their strongest gains in a week on Tuesday after a pick-up in German economic sentiment data bolstered hopes the region's biggest economy would rebound quickly from its recent weakness. Wall Street was expected to return from a three-day weekend with further gains, as it looks to build on the seven straight weeks of rises that have pushed the S&P 500 to a five-year high. Following last week's GDP figures showing that the euro zone saw a weaker end to 2012 than expected, Germany's ZEW survey of investors and analysts brightened the mood as it comfortably beat expectations to hit its highest level since April 2010. "Financial market experts have made their peace with the weak fourth quarter of 2012," said ZEW president Wolfgang Franz after its headline figure jumped to 48.2 points from 31.5 in January. "In their opinion the German economy faces less of a headwind from the euro crisis than throughout the last months." European stock markets, which had lost around 1.5 percent since the end of January, extended early gains after the data to put them on track for their biggest advance in a week. The FTSEurofirst 300 had added 0.9 percent by 1330 GMT, led by a 1.5 gain on Paris's CAC-40 and 1.2 percent rises on Frankfurt's DAX, in Milan and in Madrid. "Even if the real economy only lives up to half the expectations, ... any fears of a technical recession should turn out to have been unjustified," ING economist Carsten Brzeski said of the German outlook following the ZEW survey. The euro also rose and German government bonds turned negative after the figures, though both moves proved to be brief. The euro was little changed at $1.3350 as afternoon trading gathered pace and benchmark Bunds were back in positive territory at 142.82. European Central Bank President Mario Draghi's reiteration on Monday that the bank would continue to monitor the euro's recent strength kept downward pressure on the currency, as some took the comments as a hint tha

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Financial and Legal (financial planning for expats at Barcelona, life insurance, banking, etc) Best for Expatriates in Spain As an expat, your circumstances are likely to change more often than if you were in your home country. Clear financial advice and planning means that expatriate life is without worry and that your future is taken care of. Financial planning requirements vary from country to country and expatriates living in Spain may need to allocate their investments in a different way. These are the elements that make expatriate financial planning different. Currency One of the first financial steps when relocating abroad may involve exchanging currency to that of the new country. It is important to search around for the best deal at both banks and specialist currency dealers. If an income is received from another country in another currency, it will need to be exchanged into the currency of new country. The impact of a regular currency conversion can leave a person exposed. Currencies move quickly and often; it may be necessary to "forward book" some of the currency exchanging to fix the rate of exchange. When it comes to arranging savings and investments, different currencies also need to be taken into consideration. In principle, if the investments are generating income used to live on, they should be in the same currency as the expenditure. EMERGENCY CASH FUND Regardless of the country of residence, an amount of cash should be instantly available for emergencies. In the case of expatriates, this fund needs to be higher because inevitably additional trips back home are required (for example, trips to see ailing and infirm relatives). The amount required depends on individual circumstances and a financial adviser takes this into account when financial planning. BANK ACCOUNTS Expatriates need a bank account in more than one country; a local bank account is required in the local currency. It is also often necessary to retain a bank account fo

How the UAE can improve its financial literacy Financial literacy is the awareness of how money functions and the capacity to handle one's finances successfully. While it is not a new idea, it is a completely recent phrase frequently used in the UAE. Why is this so? The reason, it appears, is that we are a not a financially knowledgeable nation. This can be clearly gleaned from our amount of debt, which constantly increases. In spite of the fact that the Central Bank introduces more rigorous qualifications for individual lending in 2011, banks are still allowed to grant loans of up to 20 times a person's monthly wage, with installments not to go above 50 per cent of monthly wage. The worth of personal debts in the country rose by 3.8 per cent to Dh270.7 billion between January and May this year alone, according to the Central Bank. That sum is over and above the Dh8.8 billion increase in individual loans reported during 2012. In addition, a survey by The National Family Status Observatory in 2012 revealed that about 60 per cent of Emirati families disbursed about one fourth of their monthly earnings repaying loans from credit cards and individual loans. Those figures are excessively high, says Keren Bobker, the financial counselor who writes The National's "On Your Side" column. "A major fraction of the population has total monthly loan obligations that surpass their income," she says. "Inescapably, this will end up in defaulting on payments and other dire consequences." So why is the UAE exceedingly financially uninformed? "Many factors can explain this predicament," Ms Bobker says. "These comprise having to handle financial products in a second language; absence of transparency in terms of many financial products and services; lack of help from banks, and excessive hard selling which are improper." Having debts has been embedded into the culture, she says. "So many citizens here simply believe that having large uncollateralized

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the tyler group article code 85236931403 TTG, Intel Fuels a Rebellion Around Your Data Intel is a $53-billion-a-year company that enjoys a near monopoly on the computer chips that go into PCs. But when it comes to the data underlying big companies like Facebook and Google, it says it wants to "return power to the people." Intel Labs, the company's R&D arm, is launching an initiative around what it calls the "data economy"-how consumers might capture more of the value of their personal information, like digital records of their their location or work history. To make this possible, Intel is funding hackathons to urge developers to explore novel uses of personal data. It has also paid for a rebellious-sounding website called We the Data, featuring raised fists and stories comparing Facebook to Exxon Mobil. Intel's effort to stir a debate around "your data" is just one example of how some companies-and society more broadly-are grappling with a basic economic asymmetry of the big data age: they've got the data, and we don't. Internet firms like Google and Amazon are concentrating valuable data about consumers at an unprecedented scale as people click around the Web. But regulations and social standards haven't kept up with the technical and economic shift, creating a widening gap between data haves and have-nots. "As consumers, we have no right to know what companies know about us. As companies, we have few restrictions on what we can do with this data," says Hilary Mason, chief data scientist at Bit.ly, a social-media company in New York. "Even though people derive value, and companies derive value, it's totally chaotic who has rights to what, and it's making people uncomfortable." In February, for instance, legislators in California introduced the first U.S. law to give individuals a complete view into their online personas. The "Right to Know" bill would let citizens of the state demand a detailed report showing all the inf

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http://economic.tylergroupservices.net/ Myanmar on Tuesday pardoned dozens of political prisoners a day after the European Union agreed to end almost all sanctions against the former pariah state, activists said. Bo Kyi of the Assistance Association for Political Prisoners (Burma) said, at least 59 political prisoners were included in the latest amnesty. "More than 200 political prisoners are still in prison," he continued. "Political prisoners should be recognized as political prisoners and be released unconditionally." He said, the amnesty included 40 former rebels from eastern Shan state jailed for drug trafficking while describing them as "victims of politics". Nyan Lin, another activist, from the 88 Generation group, confirmed that at least 30 political prisoners were released. Based from his counting, he included 17 Muslims arrested and charged under the emergency act after religious clashes in the central town of Kyaukse in 2003. A Myanmar government official said that total of 93 inmates were pardoned but did not identify them. Out of the pardoned inmates, three were foreigners. He said, "This release aims to allow them to participate in building the country and is also based on humanitarian grounds." According to State Department spokesman Patrick Ventrell, the United States welcomed the latest release but called for the unconditional freedom of all political prisoners. Since President Thein Sein took power in March 2011 Myanmar has freed hundreds of political detainees although they have been long denying their existence. The government publicized a reassessment of all politically allied cases in November last year. Myanmar's former junta was accused by rights groups of wrongfully imprisoning about 2,000 political opponents, dissidents and journalists. And activists state Myanmar's government has used a series of headline-grabbing prisoner releases for political gain. In November it seems that it was done to coincide with a

Germany, UK Issue Travel Warnings For US Due To Government Shutdown http://www.economywatch.com/news/germany-uk-travel-warning-us-government-shutdown.03-10.html Germany and the United Kingdom have become the first countries to issue advisories for travellers to the United States, warning of possible delays at immigration and tourist sites as the U.S. government remains partially shut due to a budget impasse. In a notice posted on its website, the German Foreign Ministry warned that "travellers should expect longer wait times at immigration control," even though air traffic controllers and Customs and Security operations at U.S. airports should be operating normally; while the U.K. government also warned of delays in air travel and at immigration. According to a report by the Daily Mail, the Association of British Travel Agents (ABTA), the U.K.'s travel trade association for tour operators and travel agents, also warned British tourists that they were unlikely to receive a refund on their holidays unless a "significant part" of their trip has been affected by closures as a result of the U.S. shutdown. According to ABTA, around 30,000 Britons are currently holidaying in the U.S., with only a fraction booking trips to national parks, which have all been closed. Britons comprise the largest European tourism contingent to the U.S., according to U.S. Commerce Department statistics, followed by Germans. On Wednesday, European leaders expressed disappointment at the federal government shutdown, but were optimistic of minimal damage to the economy, as long as U.S. politicians can reach an agreement within two weeks. "The German government is following the developments and events in the United States very closely and we regret that there has not yet been a resolution of the conflict over the US budget," said government spokesman Steffen Seibert to reporters, as cited by AFP. "We hope that there will be progress soon that will allow the conflict to end."

Wednesday saw many banks simultaneously slash deposit interest rates, while the Ho Chi Minh City Statistics Office announced a slight decrease in the city's consumer price index. The interest rate for deposits of a term between one and three months at Vietcombank was lowered from the rate cap of 8 percent a year to 7.5 percent a year. The country's third-largest partly-private lender also dramatically cut the rate for deposits of a term of over 12 months, dropping it from 10.5 percent to 9.5 percent. ACB meanwhile imposed a 0.2 percentage point cut on rates for one- to six-month terms, while offering a 7.6 percent a year rate for 9-month term deposits. Some industry insiders, however, believe the unexpected interest rate cuts were a sign of banks embracing another order to slash rates by the State Bank of Vietnam. The banking system is likely to see another interest rate adjustment, as the government has recently asked the central bank to continue lowering deposit interest rate in order to reduce lending rates. The deposit interest rate was capped at 8 percent last year under the government's bid to assist businesses with lower lending rates. CPI declines Other insiders said the rate cuts came since banks have anticipated the development of the CPI in March, which saw a slight decrease of 0.29 percent, according to the statistics office. The city's CPI rose 1.15 percent in the first quarter of this year. Six out of 11 commodity baskets posted slight decreases, the office said. The deepest decrease -- 0.62 percent -- was recorded in the commodities and services basket, followed by food and restaurant services (0.6 percent), and culture-entertainment-tourism services (0.47 percent).Beverages and cigarettes dropped by 0.35 percent, while transport saw a 0.34 percent decline, and garments and textiles-headwear-footwear, 0.08 percent. In the increase group, housing-electricity-water-fuel prices, and construction material prices respectively rose by 0.38 percent a

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