| Tomorrow in Business Monday | | Posted Monday, March 12, 2007 2:47:02 PM by Blog57 Team | | The password is . . .: How many passwords do you have? There's your computer log-in. Your voice mail. Your bank card. Your online accounts. And on and on. People have, on average, about two dozen passwords and PINs. Here's how you can choose combinations of characters that lessen the chance of hackers cracking your code. My Biggest Mistake: When you run a delivery business, the last thing you need is a fleet of aging, unreliable vehicles. But when Mike Hamilton and Kris Stotz merged their FedEx Ground routes, they forgot to bud get for the cost of new trucks and vans. Gear At a Glance: Seri ous gamers should check out these next- generation Ge Force graphics cards. .... | |
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| | | LJCP terms service charges on certain bank accounts ‘unfair’ | | Posted Monday, January 29, 2007 12:46:38 PM by Blog57 Team | | KARACHI: The Law and Justice Commission of Pakistan (LJCP) has declared that chargeability of service charges at the time of closing of bank account and deduction of expenditure, administrative charges at the time of fixing profit on deposits are "unfair". LJCP is a constitutional body, established in 1973 to identify the unfair legal practices in all walks of life. It assists the policy makers by proposing changes in laws keeping in view the best practices. Sources in the banking industry disclosed on Thursday that LJCP has sent a " reference" to the State Bank of Pakistan in which it said that "the deduction of specified amount from remaining deposits at the time of closing of account is unfair practice on the part of banks". The commission has said the method of fixing profit on deposits after deduction of expenditure and administrative charges in an arbitrary way is also unfair for general public who are thus deprived of their share of profit.... | |
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| | | Top bank: minimum bank balance violates regulations | | Posted Saturday, January 20, 2007 2:47:02 PM by Blog57 Team | | Banks who require companies to maintain a minimum balance in their bank accounts are in violation of banking regulations and guilty of discriminating against small firms, according to China's central bank. The Industrial & Commercial Bank of China and Huaxia Bank have set a minimum balance for small of 100,000 yuan (US$12,820), and the number is as high as 500,000 yuan (US$64,100) when it comes to the Bank of Communications and China Merchants Bank. "All firms are entitled to open an account at any commercial bank under China's existing banking regulations," the People's Bank of China said in a report on its official website. Minimum balance requirements force corporate clients to deposit more money. This is good for the banks but harms the liquidity of small businesses and makes it hard for them to engage in fair competition, said the report.... | |
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| | | Israel to impose limits on bank accounts of security prisoners | | Posted Monday, January 01, 2007 12:47:25 PM by Blog57 Team | | Israel will impose limits on the transfer of funds from the territories to Palestinians held in its prisons for security-related offenses, starting on February 1. According to the new rules, the maximum sum per month each such inmate may receive will be NIS 1,300. In addition, control of funds distribution will no longer be in the hands of the prisoners' leadership, but will be handled by the prison authorities. The adoption of the new rules is angering the Palestinian inmates. .... | |
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| | | Suspected Boratong accounts frozen | | Posted Saturday, December 30, 2006 2:47:06 PM by Blog57 Team | | The Court of Appeals (CA) has ordered five bank accounts owned by a bank manager but are believed used by alleged big-time drug dealer Amin Iman Boratong to stash his profits. In a four-page resolution penned by Associate Justice Ricardo Rosario, the CA?s special second division granted the petition filed by the Anti-Money Laundering Council (AMLC) to prevent Godofredo Medenilla, bank manager of Equitable PCI Bank branch in Pasig City, from touching the money in those accounts and to enable authorities to examine them. The CA ordered the accounts ? one at the Equitable PCI branch and four in a Planters Development Bank ? frozen for 20 days. "Immediately upon receipt of the freeze order, Equitable PCI Bank and Planters Development Bank are directed to freeze the above-enumerated bank accounts, and to furnish the owner/s or holder/s of the bank accounts or investments with a copy of the ontice of the freeze order" the CA said.... | |
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| | | Gaming firm's bank accounts frozen amid IRS investigation | | Posted Monday, November 27, 2006 12:47:43 PM by Blog57 Team | | Austin gaming company BGI Inc.says the Internal Revenue Service had frozen several of the company's bank accounts amid an apparent financial investigation. The company says it's not entirely clear why at least three accounts, totaling about $300,000, were put on hold. But BGI says in a statement that it appears the company's cash depositing practices are under investigation. .... | |
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| | | Comerica to close Muslim charity's accounts | | Posted Tuesday, November 14, 2006 6:46:29 PM by Blog57 Team | | DETROIT - Comerica Bank plans to terminate on Wednesday the accounts of a Muslim charity in Southfield that was the focus of a federal raid two months ago, according to letters the bank sent charity officials. The charity has checking accounts and uses Comerica services such as online banking. The organization has circulated millions of dollars through Comerica Bank over the past decade, said Life for Relief employee Mohammed Alomari. Kathy Pitton, a vice president with Comerica Bank, told the Detroit Free Press that the bank has the right to terminate any bank account with or without cause. .... | |
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| | | Discount Bank reinstitutes old fees | | Posted Monday, November 13, 2006 2:48:29 PM by Blog57 Team | | Israel Discount Bank this weekend announced that it is going to charge membership fees of NIS 10 for its credit cards each month as part of its plan to raise its fees and institute new ones for its customers. The country's third-largest bank has also decided to charge a fee equivalent to 0.1 percent of securities' purchases as well as NIS 100 per quarter for business accounts. Will other banks follow in Discount's footsteps? Bank Leumi already raised its rates at the end of October, while Bank Hapoalim reported that it has yet to discuss the issue. .... | |
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| | | Banks have 332.4 bln rbs on CBR correspondent accounts on November 10 | | Posted Sunday, November 12, 2006 10:46:48 AM by Blog57 Team | | MOSCOW. November 10 (Interfax) - Russian banks have 332.4 billion rubles on correspondent accounts in the Central Bank as of November 10 including 214.8 billion rubles for Moscow banks. The balance on November 9 was 344.6 billion rubles and 226.6 billion rubles, respectively. Banks had 57.3 billion rubles on deposit accounts in the Central Bank on November 10, against 60 billion rubles on previous day. [RU ASIA EUROPE EEU EMRG CEN BNK M MMT ECI MCE] .... | |
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| | | Looking for silver lining | | Posted Saturday, November 11, 2006 12:48:56 PM by Blog57 Team | | UNLESS you have $250,000 or more sitting in a bank account or are debt free, news of higher interest rates is unlikely to elicit hoots of delight. But now that the Reserve Bank has lifted the official cash rate to 6.25 per cent is there any good to come of it? The answer is yes if you have large sums of money on deposit or own shares in one of the banks. Competition is such that banks are becoming increasingly quick to pass on interest rates on deposit accounts. The downside is that for many people this act of generosity won't mean much. The rates of interest close to the official cash rate paid on most bank accounts don't generally apply to amounts of less than about $250,000. There aren't any known official statistics on what the average bank balance is but given we know Australians are big on debt and bad on saving, it is unlikely that a lot of households have upwards of a quarter of a million just sitting around.... | |
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