Satyam to be replaced by Sun Pharma in Sensex

Sebi team reaches Satyam complex and PwC office in Hyderabad

There are reports that the Securities and Exchange Board of India has actually sent out a team to Hyderabad to look into the Satyam issue. CNBC-TV18's Vivek Law finds out what is the next likely plan of action. As we had reported yesterday, the Sebi team has come here today. The interesting part is, while it is also in the Satyam Complex looking at the books, but I understand from government sources, that they are also at the PricewaterhouseCoopers’ (PwC) office.

This is a very crucial piece of information, which means the regulator is not remaining confined to just looking at Satyam, but it is also looking at the role of the auditors through a physical inspection.There has been a lot of debate whether auditors do come under the purview of Sebi. What I do understand is that the listing agreement is pretty sacrosanct in the sense that it puts a lot of burden on companies, as far as information to the stock exchanges, information to investors at large is concerned.

And this has been an issue of not informing investors of what the truth really was and a large part of the owners at this point of time is lying with the auditors. Because the auditors for so many years did not know that so much amount of money was actually fictitious in the books. We have learnt that part of Sebi’s inspection is also to do with PricewaterHouseCooper (PwC). PwC’s office is in Jubliee Hill and the team has asked all people not to enter the area. We understand some senior officials of PwC have also come in from Delhi and this is now a serious multi-pronged effort on the ground by the regulator to find out what really went wrong. We have been visiting Ramalinga Raju’s house to try and find out what is going on there; late last night there was eerie silence.

Today again, there is pretty much no action whatsoever out there. The big question in Hyderabad is the fact where is he?I have learned from Andhra Pradesh government sources that the government is considering, not necessarily the Andhra Pradesh government, it’s probably been in touch with the Central government as well, a full-fledged Central Bureau of Investigation (CBI) probe into this. As we have been reporting over the last couple of days, the local police establishment really hasn’t moved at all, to find out where Ramalinga Raju is, to interrogate him, to ask him what happened to this Rs 5,000 crore. His letter says that this money never existed that is not the theory that everybody is buying out at this point of time, because after all as we have been saying it was a real company, with real clients, with real revenues. So, it is not possible that this kind of 3% margin as he claims would have been even possible. This is a question which only Ramalinga Raju can answer that was this Rs 5,000 crore money, which was there, and has now vanished or was it never there in the first place as he has claimed in his letter.No effort so far on the part of the enforcement authority, this is not something a Sebi can do. This is not something the Ministry of Corporate Affairs can do, this is something which a enforcement agency can do to find out where he is. .

There has been rumour mill all through yesterday that is he in Dubai, is he in the US––none of this is confirmed.The senior police officials in Hyderabad do tell us that they are waiting for a complaint to be filed by Sebi. This defies all logic because this is a cognoscible offence; a cognoscible offence does not mean that the police cannot move till a complaint is issued. However, informally, some of them have even told us that they don’t even know how to handle such a case. This is not a police station case, this will have to be entrusted to an agency––an enforcement agency which understands the issue. The only agency of a national character, which can deal with something like this is the CBI. I have been told that the government is actively considering whether the CBI needs to be brought in to find out where exactly Mr. Raju is, to question him and to take this to its logical conclusion.Thus, two real pieces of action the Securities market regulator is on the ground trying to find out are––what the books say? What is the kind of information that Satyam provided to PwC? What is the communication that went on between the two of them over the past quarters and perhaps even past few years? That is the first part. The second part is something seems to be moving in terms of the enforcement authorities into at least finding out, where Mr. Raju is.

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How should investors trade Satyam ?

It is the day after the biggest scandal hit India Inc. In a letter sent to the board and regulators, Satyam founder-Chairman B Ramalinga Raju confessed to fraud in the company’s accounts. Yesterday, the Satyam stock took a beating and fell over 77%. So, how should investors trade Satyam now? Experts delve deeperShankar Sharma, Joint MD, First Global, feels the Satyam stock can go down to Rs 10-30 levels.Brokerage firm CLSA maintains target of Rs 25-40 on Satyam.However, KR Choksey Research has advised investors to swap Satyam Computer Services with Infosys Technologies.

"Even after the verification, restatement of financials and resolution of critical financial and regulatory issues, it is extremely unlikely that we will see a significant improvement in the company’s business prospects or client confidence."Hitesh Agrawal, Head Research, Angel Broking advises current investors to exit and non existent investors to stay away.Reliance Money has advised investors to reduce their holding in the company. "We continue to remain negative about Satyam and reiterate our reduce rating," the Reliance Money's research report said.Similarly, Religare Hichens Harrison Research has advised investors to exit Satyam.

Satyam CEO Ramalinga Raju's letter to Shareholders

SIBOR RATE

SIBOR RATE
Today we show you the latest Singapore Sibor rate in February 2011.

Sibor Rate:

3-month SIBOR rate = 0.44

6-month SIBOR rate = 0.56

12-month SIBOR rate = 0.81

SIBOR rate is correct as at 11 February 2011.


Singapore Housing Loan Rates subject to change. Housing Loan Rate

FOREX TRADING - FOREIGN EXCHANGE TRADING

Forex is an abbreviation of Foreign Exchange (also referred to as FX) and it is the largest financial market in the world.

The Forex market is the place where currencies are traded (currencies are money that is used as an exchange medium). In other words, it is the place where currencies are being sold and bought. In the Forex market all currencies are traded in real time.

Trading with currencies always means that there are two simultaneous transactions taking place. If a currency is being bought, it is also being sold. To better understand this notion, think of currencies as both the goods you are buying AND the method with which you're paying for the goods.

Since the Forex market is the place where currencies are traded in real time, people may trade one currency for another and make a profit off of this transaction. Profits are made when one is able to determine which currency's value will increase by the end of a pre-determined time period (such time periods may be short or long). The Forex market is open 24 hours a day, five days a week and it is based in four major cities: New York, London, Sydney, and Tokyo. The Forex market is open to individuals over the age of eighteen.While Forex trading may sound daunting, it really isn’t. It can be easily comprehended and understood without prior experience in finance or economy. It is challenging and exciting, thought provoking and manageable, stimulating and filled with opportunities.

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Some Forex Basics:

The first currency listed in a currency pair is called the "base currency". The “base currency” is usually the U.S. Dollar. Traders will generally trade the U.S. Dollar against another currency, which is called the “counter currency”. Currencies are quoted in pairs. For example: The pair U.S. Dollar and JPY will be quoted in the following way: USD/JPY equals to 2.5 (This means that 1 U.S. Dollar can buy 2.5 JPY).

When a quote increases, it means that the “base currency” has risen in value and the “counter currency” has weakened in value. For example: If the USD/JPY quote used to be equal to 2.5 but is now equal to 2.6, then this means that the dollar has strengthened (because 1 U.S. Dollar can now buy 2.6 JPY as opposed to the mere 2.5 JPY it could buy beforehand.)

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HOW TO … LEARN FOREX?

To learn Forex Trading, one must learn about Forex and one must learn about trading; while it is not always easy to separate one from the other, it may be more useful to attempt to look at these as two disciplines separately at first. Each requires a deep understanding of its own, each offers numerous and assorted ways to learn it.

To begin, one should always learn the Forex (foreign exchange) market first, even if only its basics, and even if only in a crash-course. There are many ways in which one can do so: one could choose to study the Foreign Exchange market formally, that is to say, via online classes, webinars, and/or via seminars, lectures, tutorials, university classes, or one could also choose a less formal method, that is to say, via (online or not) forums, private/public/interactive communication with experts, professionals, and even other students of Forex.

Basic knowledge that should be acquired before beginning to trade forex includes: Forex terminology, Forex symbols, Forex charts and graphs, history of the Foreign Exchange market, historical data, evolution of currencies, worldwide monetary systems, market activity, market trend, financial instruments, market professions (—the meaning of brokers, investors, consultants, etc), political factors that affect the market, economic factors that affect the market (—for example: interest rate, GDP, employment rates, etc), behavioral finance, psychological factors that affect the market, and last but not least, theories.

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Once one has sufficient theoretical knowledge, one could go on and learn trading. Trading is a skill, and like any other skill, it needs to be practiced and practiced in order to be perfected. Practicing is almost the best mental training tool. This is why, when it comes to trading, the most useful way to learn forex trading is to practice (various trading platforms not only offer their services for free, but enable user to practice with demo money and with real-market rates, i.e. coming as close as possible to real forex trading but without having to risk losing any money). Via trading simulations, one could feel trading out; via trial and error one will know which trading techniques suit him/her best, which long-term transactions work, which require overnight trading, which need to be short-lives, how to control risk.

Having learned a satisfactory amount about the Foreign Exchange market, one could almost intuitively apply the theoretical knowledge into the practice of Forex trading. For example—if a news release came out about an increase in the unemployment rates, one should immediately be alarmed, for higher unemployment rates are not good for an economy, and will have a negative effect on it, which in return will have a negative effect on that country’s currency. One, of course, will then act accordingly (sell or buy a certain currency as a result). This is to say, that the more knowledge one posses, the more s/he will be able to navigate the world of Forex automatically, for s/he will understand terms and charts (and follow their constant updating) and will know how to react fast to the release of economic news.

Studying never ends. It is important always to keep oneself on a learning curve; to stay in tune with this ever-growing market. One could always read books, magazines, visit blogs— and of course, read the newspapers; one’s awareness to what goes on around him/her is a key component in becoming an experienced trader.

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Why Forex TradinG ?

The FOREX Market never sleeps. A currency trader may take advantage of all market conditions at any time. There is no waiting for an opening bell. It is a 24-hour, continuous currency exchange that never closes, you can trade whenever you want: morning, noon or night. This is a very big advantage compared to stock trading with limited trading hours.

Trading potential in both rising and falling markets Trading currency allows traders to trade during rising and falling markets. One can just as easily "short" a particular currency as go "long", because currencies trade in "pairs". Thus, when you buy a particular currency, you are actually simultaneously selling the other currency in that particular pair. As the market moves, one of the currencies will increase in value versus the other.

Interbank market The backbone of the Forex market consists of a global network of dealers. They are mainly major commercial banks that communicate and trade with one another and with their clients through electronic networks and telephones. There are no organized exchanges to serve as a central location to facilitate transactions the way the New York Stock Exchange serves the equity markets.

Why Develop a Disciplined Trading??

Ask any successful trader and they will tell you that the key to trading success is discipline. Everyone has heard the expression “cut your losses and let your profits run” yet how many traders actually practice this? Many traders will hold on to losses hoping it will reverse eventually, only to see the loss get progressively larger. These “irrational” trading decisions are based on emotional reactions to fluctuating profits and losses - a common pitfall for new traders. Losses can AND WILL occur. A trader's ability to limit his losses is just as important (or even more important) then determining entry points.

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Student Loan Refinancing: Student Consolidation Loan Information

Student Loan Refinancing
Student Loan Refinancing or Student Loan Consolidation PACKAGES can be somewhat different from one institution to another. It's normally a good idea to do some thorough research as well as to shop around. Student Loan Refinancing companies have various degrees of advantages vs. disadvantages, so it would be wise to do a little homework before deciding to proceed.
Student loan refinancing can be utilized to bare all your expenses that occur in school and college life. This can be offered as a direct student loan facility, normally with lower than usual, interest rates.
Student Loan Refinancing is a common practice among graduates who are finding they can get lower rate loans after graduating than they could as students. One great reason to refinance student loans is to consolidate them into a single monthly bill at a fixed rate of interest. Student loan refinancing is very common these days and a great many options are available

NOTE, Before You Refinance
Before applying for student loan refinancing, you may want to pull a copy of your credit report. If there is anything that can be improved upon, you should do your best to take care of it. A good credit score will not only help you qualify for low student loan refinancing rates, it will also make the approval process much less painless.
Where to Get Student Loan Refinancing
Student loan refinancing can be obtained from traditional banks and credit unions, but you may want to consider going with an online lender. The online lending market is very competitive and many online lenders are offering student loan refinancing rates that can't be beat. No matter where you decide to get your student loan refinancing, take time to shop around and compare lenders, rates, and loan terms. This is the only way to make sure your refinance pays off.

Where To Get Student Loan Refinancing
Student Loan Refinancing can be obtained from traditional banks and credit unions, but you may want to consider going with an online lender.
The online lending market is very competitive and many online lenders are offering student loan refinancing rates that can't be beat. No matter where you decide to get your student loan refinancing, take time to shop around and compare lenders, rates, and loan terms.
This is the only way to make sure your refinance pays off.
Student Loan Refinancing -- More Info
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student loans consolidation databaseno credit check student loansIf you want to make a wise financial decision upon graduation, choose to consolidate your student loans and reduce your number of monthly debt payments.
student loans consolidation
student loans consolidation databaseStudent loan schemeIf you want to attend tertiary school but lack the finances to do so, the quickest way to get funds is through student loans.