Month: June 2014

Alert manager helps nab Columbus duo

June 30, 2014

Prepaid Credit Cards

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An alert manager at the Russells Point Village Pantry, 209 Orchard Island Road, helped Russells Point police officers stop and arrest two African nationals Sunday who were trying to use dozens of fraudulent prepaid credit cards to make purchases.

AU Summit Approves Creation of African Monetary Fund

June 30, 2014


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The African Union (AU) Summit has approved the creation of an African Monetary Fund (AMF) with an initial capital of 22.64 billion dollars to promote economic development in Africa.

The AU Commissioner for Economic Affairs, Anthony Maruping, told newsmen in Malabo on Monday that the Fund would work to correct balances of payment positions across Africa.

He said that such positions were mainly caused by low export of commodities and high import volumes which exerted negative burden on currency stability.

The AMF would be established to basically help to tackle macro-economic matters in Africa, he added.

The commissioner said it is not true that there has been an economic leadership gap in Africa. We are creating an African institution because the UN Economic Commission for Africa is a global body.”

Maruping said the Fund was expected to create proper lending system in Africa to correct imbalance in payments within the continent and ensure exchange rate stability.

It will also work toward African currency convertibility, ensuring that currencies across Africa can be exchangeable. The Fund will promote monetary cooperation on the continent and speed up economic development.

To achieve these objectives, the Fund will design formulas to lower the debt burden and other debt management policies in Africa and facilitate development of the African financial markets.”

The AU official said the Fund would have an authorised share capital denomination of 100 dollars per share with a callable share capital of 50 per cent of the authorised share capital, which is 11.32 dollars.

The paid up share capital would be at least 50 per cent of the callable share capital 5.66 billion dollars denominated in 100 dollars, he added.

He said South Africa was expected to get the highest allocation of the 500,000 shares, with an 8.05 per share, translating into nearly one billion dollars, followed by Nigeria at 7.94 per cent, translating into 899 million dollars in capital contributions.

Egypt, Africa’s third largest economy, was expected to subscribe for 6.12 per cent of the shares, contributing 693 million dollars, followed by Algeria, to be allocated 4.59 per cent of the shares at 520 million dollars.

Each country was expected to pay for its subscription at once or in four installments of 25 per cent of the amount and payment period would last for between the initial four years to eight years.

The first payment is expected 60 days after the AMF treaty enters force.

Countries are also allowed to issue bonds in US dollars which are non-interest earning.

The Fund would invest in international financial markets and expected to maintain a sound credit rating. The AMF will be based in Yaounde, Cameroon.

#AMF #AfricanMonetaryFund #AfricanUnion #SouthAfrica #Egypt #Cameroon #Nigeria

Workshop Targets Financial Literacy

June 30, 2014

Financial Topics

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Malden Catholic is in the process of updating its introductory technology curriculum, which is designed to teach students simple programming as well as basic skills like using spreadsheets and creating presentations. Now, he envisions incorporating financial topics relevant to young teenagers, like how to save for a car or the prom.

SolarCity Acquired Silevo and Planning a Solar Energy Plant in New York

June 30, 2014

Financial Topics

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Asif Imtiaz worked as a prop trader for almost a decade, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe. Currently, he works as a trading consultant to several brokers and write on various tech and financial topics as a freelancer.

Forecast of Australian Property in the Year 2014 – Loans Direct

June 30, 2014

Property Loans

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Summary: Loans Direct is an independent Australian-owned group of qualified Finance Brokers that provides useful insights and valuable analysis of property markets across the Australian states and capitals. This press release is intended to share information about the factors that may influence the property market speculations for the year 2014.

This year, Australia has certainly been better than the previous two years related to real estate and property investments. Moreover, with the passage of time, 2014 is expected to be even better, according to the current property trends.

Except Perth and Darwin, in all the capital cities of respective states in Australia, property rates have performed better than last two years. On the other hand, Hobart prices are still decreasing, but they are not falling as fast as they did in 2011 and 2012. Well, except one capital city that is Hobart, all others are experiencing growth in 2013.

Thus, if someone planning to make an investment this year, know about the key factors that is expected to bring a boost in the property markets on Australia, such as –

  • Federal Elections
    The election has come and gone, now a new government is in power; consumers and the businesses seem to be willing to invest in the real estate.
  • Overseas Economies
    1. USA
      The US economy is picking up gradually; as a result,there is a decrease in the rate of unemployment. This results in greater business and consumer confidence around the world including Australia.
    2. Europe
      Similarly, in Europe, Gross Domestic Product (GDP) is improving and unemployment rate is decreasing. The Euro zone is expected to improve in the year 2014 that increases the opportunity of business expansion around the world, including Australia.
  • Availability of Finance and the Interest Rate
    Banks were more willing to lend money in 2013 as compared to four previous years. More people can now easily access loans; this will increase the demand of property, as a result, the price of property also increases. However, the interest rates offered by different banks and lending institutions are affordable as well as competitive. With an affordable rate of interests, property investors and future homeowners are realizing that it is a great time to buy. Now according to current scenario, buyers started responding more than they have in 2013.

Now the key question, Where to buy?
Here is the list of some prominent cities of Australia:

  1. Melbourne: Footscray, Flemington, Coburg
  2. Perth: Victoria Park and East Victoria Park
  3. Brisbane: Redcliffe, Albion, Chermside
  4. Canberra: Braddon
  5. Hobart: North amp; South Hobart
  6. Adelaide: Torrensville, Port Noarlunga, Thebarton
  7. Sydney: Enmore, Darlington, Marrickville

The simple and strategic approach to search for property in these seven prominent locations of Australia at competitive interest rate is by consulting a financial expert about the current property rates and the rate of interest on commercial property loans or building loans provided by banks and financial institutions.

About Loans Direct

Loans Direct is a group of leading financial experts and brokers that provides a wide range of services on diverse financial products in Australia. Known for the principles, professionalism and know-how of the industry, people resort to their expertise for unbiased advice on loans, mortgages, credit cards, bad credit, conveyancing, insurance, business financing, chattel and equipment financing and more.

BlackBerry (BBRY) Reports $23 Million Profit in the First Quarter. Will It …

June 29, 2014

Financial Topics

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Asif Imtiaz worked as a prop trader for almost a decade, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe. Currently, he works as a trading consultant to several brokers and write on various tech and financial topics as a freelancer.

Business Talent Group CEO places experts in short-term jobs

June 28, 2014


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The gig: Jody Greenstone Miller is chief executive of Business Talent Group, a firm that she says is changing the way companies obtain top business talent for consultation and project-based work. Millers company, which she co-founded with Amelia Warren Tyagi, has a talent pool of more than 3,000 experts — including former CEOs — on whom she can call to work with client companies. In other words, Miller supplies super-temps.

Illinois man arrested in GH for credit card fraud

June 28, 2014

Prepaid Credit Cards

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A clerk at the Wesco station, 14750 Mercury Drive, was alerted by a clerk at the Wesco station in Spring Lake about suspicious purchases of prepaid credit cards, said Capt. Steve Kempker of the Ottawa County Sheriff’s Department.

“The clerks had information from the Wesco security to be on the lookout for this type of activity,” Kempker said.

Kempker said the suspect made the purchase with a cloned credit card at the Grand Haven Township store at about 2:30 pm Saturday. The clerk provided police with information about the suspect, and he was arrested later that afternoon in the City of Grand Haven by Grand Haven public safety officers.

The suspect, a 59-year-old man from Park Forest, Ill., is being held in the Ottawa County Jail. His name is being withheld until he is arraigned on several charges, including credit card fraud, Kempker said.

The Sheriff’s Department is being assisted by the US Secret Service as it appears this criminal activity has occurred in other locations throughout Michigan, Kempker added.

Police on the lookout for Walgreens scammers

June 28, 2014

Prepaid Credit Cards

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Police departments in the area have warned local Walgreens branches to be on the lookout for a clique of scammers who hit stores in Peabody and Salem.

A group of men appear to have swindled the drug store chain out of thousands of dollars by using potentially stolen credit cards to purchase gift cards and prepaid credit cards.

On Wednesday morning, the Walgreens at 59 Boston St., Salem, reported that five men came in the store separately to purchase small items and Visa gift cards worth $500.

While some of the cards used to make the purchases were declined, none were reported as stolen during the transaction. Walgreens estimated that they lost $1,526.51 from the incident.

Around the same time at the Walgreens on New Derby Street in Salem, police were responding to a similar scene. The manager alleged that four men came into the store around 7 am and took turns trying to load $500 onto Visa gift cards.

Many of the attempts were declined, but three transactions were approved, totaling $1,531.59.

One suspect was described as 6 feet tall, in his early 30s. At the time of the incident, he was wearing a white long-sleeved shirt, with a dark vest, and blue jeans.

Another suspect was described as approximately 5 feet 7 inches in height, and in his mid-30s. He was wearing black pants, a white shirt, and a black baseball hat.

The third suspect was described as 6 feet, also in his mid-30s. At the time of the scam, he was wearing a black Breaking Bad T-shirt and wristbands on both arms.

The fourth suspect was described as about 5 feet 7 inches, wearing a black baseball cap with white symbols on it.

All of the suspects were described as African-American.

Peabody reports a similar incident occurred Wednesday morning at the Walgreens at 35 Main St., in which a suspect grabbed one gift card and left the store. The four men described above were seen leaving the area.

The Salem Police Department is currently investigating the incidents and reviewing surveillance footage.

Financial Education Can Help Students with Pesky Loans

June 28, 2014

Financial Topics

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Young adults must improve their financial literacy to better cope with the burgeoning student loan problem

Arlington Heights, IL — (SBWIRE) — 06/12/2014 — On Monday, June 11, President Obama signed an executive order that will help up to five million student loan borrowers, signaling a need to address the $1.2 trillion problem. However, one area that the administration did not address was financial literacy. Improving young adults understanding of financial, credit, and debt management topics will help them better understand and apply for the proper student loan.

According to national surveys, almost half (49 percent) of young adults believe that they do not have proper financial management skills, but recognize the need to take a financial education course and would likely take one if offered. Young adults primarily rely on their parents to teach them about managing their money since many high schools and colleges do not require or offer financial literacy courses. However, often parents do not have the opportunity to teach their children these important life lessons. Consequently, Financial Education of America created Futurebuck, a free web-based financial literacy course that teaches young adults the essentials of financial, credit, and debt management.

“In today’s challenging financial environment, financial education has never been so important,” said Bob Reotutar, president of Financial Education of America, LLC. “Young adults need a program that can teach them about credit cards, debt, student loans, credit reports, identity theft, retirement, and other similar financial topics. Our program educates young adults on these topics and also teaches practical financial skills that they will use for the rest of their lives.”

Futurebuck is made up of ten course video modules that are segmented into 4-7 minute modules and include quizzes at the end of each module to reinforce the course’s lessons. In less than three hours, young adults will learn about financial topics, including credit cards, debt, budgets, and student loans. Because the program is online, students can complete the program on their own schedule and at their convenience.

Currently, the program is used by high school and college students, young adults just starting their careers, and even older adults who would like to learn more about financial topics. Access the program free of charge by registering at

About Financial Education of America, LLC
Financial Education of America, LLC seeks to improve financial literacy in young adults through a nationwide campaign to promote the issue to schools, junior colleges, universities, companies, organizations, and any groups or institutions with young adults. The company created Futurebuck, a comprehensive, online education course that teaches in ten modules the essentials of financial, credit and debt management through a series of short, interactive videos. For more information about Futurebuck or Financial Education of America, please visit

Media Contact:

Contact: Bob Reotutar
Financial Education of America, LLC
120 Lincoln Lane #2D
Arlington Heights, IL 60004
Tel: (847)312-1101

For more information on this press release visit: