Finance Blog - Everything one needs to know

The ifs has called on the government to drop the teaching of personal finance from the national curriculum.

The call follows a decision by the government to introduce a new maths subject from 2010, which will be based mainly on the teaching of personal finance. Read more
Courtesy: ftadviser.com

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With house prices continuing to fall and the property market struggling, more borrowers are opting for fixed-rate mortgages, claims Nationwide.

According to Nationwide, consumers prefer to search for the best mortgage deals that fit the current economic climate.

Research by the building society revealed that 44 per cent of borrowers say that they are more likely to look for a fixed-rate mortgage while 43 per cent claim they are now more likely to consider a longer term fixed-rate loan than at this time last year. Read more
Courtesy: www.yourmoneyhaven.com

Tags:   MortgageNo Comments.

Property values have dropped by 10.5 per cent in the last year, the first time the percentage fall has reached double figures since 1990, according to the Nationwide Building Society.

The average property has seen just under £20,000 wiped off its value in this time and now stands at £164,654 as demand from housebuyers remains subdued.

House prices have now fallen for 10 months in a row. The rate at which homes are losing value also accelerated in August to 1.9 per cent, from 1.5 per cent and 0.9 per cent in July and June respectively. Read more
Courtesy: www.telegraph.co.uk

Tags:   MortgageNo Comments.

Prime properties in the heart of rural England have finally been drawn into Britain’s sliding housing market, it emerged today, as Nationwide Building Society reported that prices are falling at their fastest annual rate in almost 18 years.

Savills, the UK property agency that specialises in the high end of the property market, said that deals involving country piles worth up to £5 million are declining, following a 45 per cent fall in transactions in Central London where prices fell by 7 per cent. Read more
Courtesy: business.timesonline.co.uk

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The Ministry of Finance, Planning and Economic Development has appointed new members of the Tax Appeals Tribunal. They will begin work effective September 1.

Mr Asa Mugenyi, a senior city lawyer who has been in private practice in his law firm, Mugenyi and Co Advocates, chairs the five-member panel. Read more
Courtesy: www.monitor.co.ug

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Last week, a senior official in the Ministry of Finance made comments to the media on the government’s tobacco excise policy (The Jakarta Post, Aug. 20, 2008). His comments highlighted the lack of awareness that persists in Indonesia regarding tobacco, even among the educated elite.

The official explained that the government might refrain from increasing tobacco excise in the next year. Read more
Courtesy: old.thejakartapost.com

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The following events and economic reports may influence trading in Asian local-currency bonds today. Yields are from the previous session.

China: China Mobile Ltd., the world’s biggest phone company by market value, said second-quarter profit increased 51 percent, more than analysts estimated, after cutting prices to attract users. The central bank said yesterday it would sell 3 billion yuan ($438.6 million) of six-month bills today. Read more
Courtesy: www.bloomberg.com

Tags:   Ministry of financeNo Comments.

The Metropolitan Police has awarded Affinity Connect a five-year contract to provide retirement and resettlement courses as well as independent financial advice to its entire staff. Read more
Courtesy: www.ftadviser.com

Tags:   Financial AdviceNo Comments.

Florida workers-compensation insurance rates may drop for a sixth year in a row.

The National Council on Compensation Insurance has filed a request with the Florida Office of Insurance Regulation to reduce rates by an average 14.1 percent throughout the state.
Read more
Courtesy: www.orlandosentinel.com

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FGIC Corporation, the parent company of Financial Guaranty Insurance Company (FGIC), today announced that FGIC has entered into a master agreement with MBIA Insurance Corporation (MBIA). Upon closing of this transaction, FGIC and MBIA will enter into a reinsurance agreement under which MBIA will reinsure certain policies covering approximately $184 billion of FGIC’s U.S. public finance insured par outstanding. Read more
Courtesy: www.marketwatch.com

Tags:   InsuranceNo Comments.