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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

http://www.smallbusinesscomputing.com/tipsforsmallbusiness/5-tips-for-improving-data-security-during-tax-season.html Tod und die Steuern möglicherweise unvermeidlich, aber für kleine Unternehmer können sie auch ebenso beängstigend sein. Betrüger Überstunden um dieses jährliche Ritual in einen Alptraum für Unternehmer und Tante-Emma-Läden zu verwandeln. Gauner haben auf die Tatsache, dass viel Geld und eine ganze Reihe von persönlichen Informationen gießt über das Internet als kleine und mittelständische businesses(SMBs) Gear für Steuer-Saison fing an. Finanzdaten, Ergebnis Formen, steuerliche Feilspäne... alle machen verlockende Ziele für ruchlosen Menschen suchen, um das schnelles Geld aus Ihren hart verdienten Erfolg. Kleines Geschäft, großes Sicherheitsrisiko Denke nicht, du zu klein, ein Geschäft bist, die Aufmerksamkeit der Hacker (die schwarzen Hut-Art) zu entkommen. Grant McDonald, senior global Product marketing Manager, bei Symantec sagte Small Business Computing, "Cyber-Angreifer verlagern ihre Angriffe aus kleinen und mittelständischen Unternehmen." Seines Unternehmens Threat Matrix Sicherheitsüberwachung und Berichterstellungsdienst beobachtete den Anstieg der Angriffe auf kleine und mittelständische Unternehmen, eine direkte Korrelation zu der "Rückgang der gezielte Angriffe auf Unternehmen." Warum? Einfach gesagt, sie machen "eine leichtere Ausrichtung als ein Unternehmen mit einem engagierten Mitarbeiter," sagte McDonald, fügte hinzu, dass Angreifer klug, die Tatsache sind, dass viele kleine und mittelständische Unternehmen mit größeren Unternehmen Vertrag oder sind Teil ihrer Lieferketten. Kleine Unternehmen stellen ein attraktives Ziel für Kriminelle, die auf der Suche nach ein backdoor in eine größere Organisation. Kriminelle setzen auch auf das Chaos, das Steuer-Saison umgibt. Zwischen fieberhaften Buchhaltung, unzählige Formen und drohende steuerliche Fristen möglicherweise Datensicherheit d

(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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