| ACM Silver Sponcer Forex Expo in Abu-Dhabi
(MENAFN Press) ACM Advanced Currency Markets SA has once more joined the 2nd Middle East Forex Expo as a Silver Sponsor following its very successful presence in the First event which was concluded in Dubai last month. The 2nd Middle East Forex Expo will be held in Abu-Dhabi this November and will feature ACM as a leader in the world of Forex trading.
Based in Switzerland, and having its Middle East representation office in Dubai, ACM is among the world's largest and most competitive on-line Forex brokers. Today, ACM has second most visited on-line Forex site in the world and is the first online Forex broker to implant in the Middle East. The ACM platform deals in currencies commodities . The site is translated into 15 different languages and ACM is the only online trading platform to offer fully Islamic conditions to its clients.
Brokers saddled with huge NPAs, post-crash
MUMBAI: Till three weeks ago, retail brokerages were chasing customers with all kinds of offers, in a bid to goad them churn their portfolios more actively. And after last week's sensational crash in stock prices, brokers are still running after their clients. But this time, armed with legal notices to recover their dues, known in broking parlance as ‘uncovered debits'.
The term is used to denote outstandings on which brokers do not have any collateral that they can seize or liquidate to recover the dues from clients. The legal departments of these brokerages are said to be working overtime since last week as they figure out ways to retrieve the outstanding amount from clients. These disputes could force many high net worth individuals (HNIs) to shift their loyalties. “Clients who have defaulted at one place will go to another broker, and chances are that they will be greeted with open arms there," said an official at a domestic brokerage.
PGI, GMCH docs to go on strike today
The idea behind installation of solar red lights is wonderful at the roundabouts of Sector 21-22, Sector 34-35 and other places. This has given some kind of relief to the commuters from the frequent traffic snarls. The network of slip roads too is a welcome step to streamline the flow of traffic. A lot more needs to be done to end traffic chaos on the City Beautiful roads. Beast of burden The other day, a horse buckled down under the weight of its cart overloaded with goods at the Modella intersection. Before passersby could rush to the animals help, the cart overturned, scattering the goods in the middle of the road. Thankfully, both horse and horsewala escaped unhurt. But horsewala went away scot-free as the cops chose not to take any action. Nothing serves to spur the police to take action against such beastly men.
Ramones ex-manager, stars' realtor murdered, police say
Police have declared Stein's death a homicide. They declined to discuss possible suspects in the investigation. "She had a tough exterior but she had a heart of gold," said Dottie Herman, a colleague and close friend. Stein had been struggling with breast cancer and "was a little wobbly on her feet some days," Herman said. "I just assumed Linda fell and hit her head when I first heard about this, because I can't imagine anyone that would want to kill Linda," said Herman, CEO of Prudential Douglas Elliman, where Stein worked. Stein was formerly married to Seymour Stein, ex-president of Sire Records, according to The Associated Press. It was the Sire label that released records that vaulted the Ramones, Talking Heads and Madonna to fame in the 1970s and '80s.
BNP considers SocGen approach
BNP Paribas said on Thursday it was considering an approach for Société Générale, its French banking rival, in a move that would create a European banking powerhouse. However, investors gave the news a cool response as BNP shares fell 1.5 per cent, valuing its equity at €59.6bn ($88.5bn). SocGen shares rose 1.7 per cent to €83.20, valuing its equity at €38.8bn. It also emerged that SocGen is planning a significant reinforcement of its risk control systems, which will shift the balance of power from the trading floor to the back office, and could rein in the growth of its star profit generator. SocGen is understood to have hired Merrill Lynch and Rothschild to advise on defence strategies, in addition to JPMorgan and Morgan Stanley, which are handling a €5.5bn emergency rights issue.
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