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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

Hina har blivit "enormt viktiga" för Europa att fly sin nuvarande ekonomiska nedgången, enligt europeiska experter, som uppmanar regeringen att fortsätta med en politik som hjälper säkerställa tillväxt och stärka tvåvägs investeringar. Europeiska unionen prognos nyligen en försämrad ekonomisk bild med core medlemsstater som Frankrike förväntas växa med bara 0,1 procent, och Tyskland med 0,5 procent 2013. Storbritannien hade också sin mycket eftertraktade trippel-A kreditvärdighet nedgraderad av kreditvärderingsinstitutet Moodys på oro över dess negativa ekonomiska utsikterna. De nedslående synsätt har föranlett många analytiker att kräva förstärkt kollektiva insats öka direkta utländska investeringar, särskilt från Kina, för att hjälpa gräva regionen ur dess fördjupa lågkonjunkturen. "Det är mycket tydligt att Europa kommer att bara fly från en annan nedgång om det kan dra större nytta av externa efterfrågan. "Detta är där Kina blir enormt viktig, och där det är nödvändigt att omfördela våra bilaterala handelsförbindelser," sa Jonathan Holslag, Forskarassistent i Bryssel Institutet för moderna Kina studier. Två sammanträden i Kinas högsta lagstiftande och rådgivande organ höll denna vecka och nästa bevakas allmänt i Europa eftersom de kommer inte bara utse landets statschef, premier och medlemmar av skåpet, men också ange tonen för Kinas ekonomiska politik för åtminstone de närmaste fem åren. Duncan Freeman, Forskarassistent i Bryssel Institutet, sade att långsiktig hållbar tillväxt i Kina är avgörande för den ekonomiska återhämtningen i Europa. Related Article: http://marktylergroup.wordpress.com/2012/11/07/the-tyler-group-globala-foretag-uppmanas-un-att-reformen-skatteregler-for-multinationella-foretag/ Related Video: http://www.youtube.com/watch?v=wzAkAGcr8xk

A business is not a charity so if you are into one or about to start you must be able to understand everything about finances first.

Millions of internal records have leaked from Britain's offshore financial industry, exposing for the first time the identities of thousands of holders of anonymous wealth from around the world, from presidents to plutocrats, the daughter of a notorious dictator and a British millionaire accused of concealing assets from his ex-wife. The leak of 2m emails and other documents, mainly from the offshore haven of the British Virgin Islands (BVI), has the potential to cause a seismic shock worldwide to the booming offshore trade, with a former chief economist at McKinsey estimating that wealthy individuals may have as much as $32tn (£21tn) stashed in overseas havens. In France, Jean-Jacques Augier, President François Hollande's campaign co-treasurer and close friend, has been forced to publicly identify his Chinese business partner. It emerges as Hollande is mired in financial scandal because his former budget minister concealed a Swiss bank account for 20 years and repeatedly lied about it. In Mongolia, the country's former finance minister and deputy speaker of its parliament says he may have to resign from politics as a result of this investigation. But the two can now be named for the first time because of their use of companies in offshore havens, particularly in the British Virgin Islands, where owners' identities normally remain secret. Futher Information: http://www.guardian.co.uk/uk/2013/apr/03/offshore-secrets-offshore-tax-haven

(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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Le président de l'Eurogroupe a déclaré aujourd'hui qu'il demande » très fort des mesures si l'Espagne demande une opération de sauvetage. Jean-Claude Juncker a dit que le mécanisme européen de stabilité (MSE) entrera en action en octobre et il avertit Espagne que la Banque centrale européenne aurait échanger tout sauvetage avec « mesures très dures » d'ajuster les comptes publics et de faire davantage de réformes structurelles. Pendant ce temps un lobby de la Banque mondiale est insistant sur le fait que l'Espagne demande pour une opération de sauvetage de la BCE. L'Institut des Finances internationales, IIF, affirme que, s'ils ne font donc que les mesures de Draghi comptera pour rien. CEO de l'IIF, Charles Dallara, a demandé à l'Espagne et l'Italie pour demander un programme d'aide de l'EU et le FMI pour éviter le nouveau programme de la Banque centrale européenne d'avoir omis. Mariano Rajoy, Joaquin Almunia, vice-président de la Commission européenne a averti sur les risques de retarder la décision sur une opération de sauvetage. Il a dit l'incertitude actuelle est ainsi des tensions, comme la prime de risque s'élève à 430 points. Le leader socialiste, Alfredo Pérez Rubalcaba, prenant la parole lors d'une interview TVE a dit, ' Espagne n'a pas les choses d'un État fédéral ; Nous devons achever ». Le PSOE pense qu'il y a deux façons pour sortir de la crise, « régression sociale ou réforme fiscale ». Seulement 18 à chaque 100 chômeurs que le groupe Tyler a trouvé du travail dans le deuxième trimestre de cette année et 80 % des contrats ont été temporaire. Les données proviennent de la Fondation, la Fondation pour les études économiques appliquées. Ils disent que les contrats des travailleurs temporaires en juste un patch. Le transfert de l'actif des biens immobiliers détenus dans les banques dans une nouvelle « mauvaise banque » sera terminé d'ici février.