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Oil prices up in Asian trade
Oil prices were stable in Asian trade today as dealers weighed recent price falls against a firming US dollar, analysts said. http://smallpersonalloans.org.uk

UAE remains attractive choice of expatriate workers
The UAE remains a popular destination globally among expatriate workers as employment prospects have increased by up to 8.3 per cent annually and is expected to maintain its upbeat growth this year, a leading Middle East online recruitment portal has said.

News of the day

Gap-down opening for Nifty seen
The Nifty on Friday closed above the resistance level of 5,060 to keep the current bull run moving. The index, however, is expected to face resistance above the 5,100 level next week. The SGX Nifty futures was down by over 50 points over the official close of 5,077 in the over-the-counter (OTC) session on Friday. The US and European markets closed more or less in a Doji pattern, indicating indecisiveness among participants. If this weakness continues, then we may see a gap-down opening on Monday.
Public Relations

ICICIdirect.com starts online trading in currency futures

ICICIdirect.com, a part of ICICI Securities, today launched its new product for online trading in currency futures. - Adani Power IPO subscribed 14 times - Right time to scrap tax on share trading: ICICI Sec - FIIs favouring India; will keep investing: ICICI Sec - Sebi plans trading via wireless devices - 70% demat accounts lie idle - "People are still willing to sign cheque books" Online trading in currency derivatives would enhance the suite of instruments available for trading and hedging for investors, the company said in a statement. "There is a strong need to hedge currency risk in a transparent and a low cost manner," ICICI Securities Ltd Executive Director Anup Bagchi said. For the retail customer it will be one more source of diversification of an asset class, secondly active traders will benefit from the low margin requirements and for the Small and Medium Enterprises and corporates there will be an avenue to hedge at a low cost and in a transparent manner, Bagchi added. The strong correlation that foreign exchange has to interest rates, equity flows and commodities would translate into opportunities to trade currency futures independently or in conjunction with equities. Currently, only futures contracts in currency derivatives have been introduced by the National Stock Exchange. Foreign exchange rates, like any other asset class move depending on various factors like demand supply, interest rate parity, trade and capital flows and speculators taking positions. ICICIdirect.com is a online trading website with a 1.9 million customers.


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