Hong Kong: The Best Place to Import an iPhone 4

You'll get a contract-free and officially SIM-unlocked iPhone 4 16GB for just a shade under Rs. 30,000 ($643)

Today, the Internet as well as local newspapers covered this story where people of the Chinese origin in U.S. were buying iPhone 4s in bulk that are eventually imported by their own country, where Apple is officially releasing its star-studded phone tomorrow. Dvice.com stated that these phones are sold for as high as $1000 in China! Newspapers also depicted the irony that these iPhone 4's are originally manufactured (by an OEM called Foxconn) in China, then shipped to U.S. where they're locked to AT&T network, and sold without a contract for $599 for a 16GB model. So, basically on its return trip back to China, the price is increased by a good $400 which we can assume is commissioned by all the middlemen; from the people who buy it in U.S., to the people who actually sell the device in China. 

This got me thinking; we have people in our own country who're paying that kind of sum for an iPhone 4. A quick search on ebay.in reveals that most iPhone 4s selling here are purchased and unlocked from U.S. Currently, the lowest is at Rs. 40,000 while some are ridiculously high at Rs. 55,000. Firstly, I am very sure many are ignorant about the concept of unlocking and jailbreaking and its implications. Back in May, I'd even written about it, trying to clear some misconceptions. Still, I keep running into people who accidentally update their iPhone OS, only to realize that their phone gets locked with the newer version. 

I agree restoring and jailbreaking/unlocking the iPhone isn't rocket science, and anybody who reads a tutorial on the Internet can do it in a matter of minutes. However, the non-savvy people are at the mercy of local cell-phone sellers who "specialize" in such procedures; charging them anywhere between Rs. 650 to Rs. 1,500 for unlocking/jail-breaking their device. It has become a good business opportunity for them; where the owner doesn't have to worry about anything and even gets his phone back working with a lot of apps pre-loaded as a " bonus".  

Tip for people wanting to buy the iPhone 4 in India:

1)    If you can wait till October (which isn't too far from now), and are using Airtel or Vodafone, then it would be better to wait till either carrier launches the phone officially here. The advantage? You will get official warranty for your phone (which you lose if you get one from any other country, unless you are able to send the phone back to the country of purchase for repairs, should anything go wrong). 

2)    If you are on another operator, or can't wait till either Vodafone/Airtel releases it officially here, then I'd suggest you insist on one that is imported from a country where the iPhone's sold without a contract AND officially unlocked. Here's a quick memory jog of all the countries that do this:

Belgium, Czech Republic, Greece, Italy, Luxembourg, Russia, Turkey, Hong Kong, Macau, Malaysia, New Zealand, Singapore, Taiwan, Thailand, Ecuador, Saudi Arabia, United Arab Emirates, South Africa

Off all these countries, the Apple Hong Kong Store currently has the best pricing. You can get one for Rs. 29,274 ($642) - and use it with any carrier you want here. People keen on jailbreaking the phone can go ahead and do so. But for people who're not very savvy with this fairly risky procedure, buying one from Hong Kong will also give them a peace of mind and an assurance that their phone won't get locked because of an accidental phone update.

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Yen back at 15-year high on forex hedging

The yen rose to a fresh 15-year high against the dollar in global forex trading yesterday (September 7th) as investors flocked to the hedge currency to limit risk exposure.

Amid renewed concerns about the strength of US recovery, forex brokers once more pushed the yen back to historic highs, likely adding support to the case for currency intervention.

The Bank of Japan's policymakers met earlier this week to discuss potential strategies to stem the rise of the yen, but voted against any direct intervention.

And with concerns about falling international payment revenues returning once more, the issue is likely to be high on the agenda again next month.

'We are aware that Japanese exporters have been significantly affected by the yen's strength,' said the bank's governor Masaaki Shirakawa on Tuesday, adding that the currency's rise is being closely monitored.

In trading this morning, the dollar strengthened moderately against the yen and was trading at 83.70 yen at 09:00 GMT."

Why Are Forex Trading Courses So Expensive?

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Why Are Forex Trading Courses So Expensive? | ElectroArticles.com

Yου mіght hаνе heard οf someone whο hаѕ mаdе ѕοmе money frοm online forex trading аnd now уου want tο participate іn thе market tοο. Bυt hοw саn уου participate іf уου hаνе totally nο experience іn forex trading аt аll? A cursory glance аt thе investing department οf thе book shop brings up hundreds οf related books аnd nο clue tο whісh аrе thе mοѕt suitable ones tο read. Sο уου take thе next best option аnd ѕtаrt tο look out fοr forex trading courses tο attend. Bυt thеу seem tο cost ѕο much.

People looking іntο participating іn thе currency exchange market usually complain аbουt thе highly priced forex trading courses. Whіlе іt’s realistic tο ѕtаrt tο learn forex trading online, іt’s іmрοrtаnt tο look аt forex courses frοm a different angle.

Thе majority οf υѕ hаνе nο qualms аbουt buying a nеw car οr going οn holiday, bυt аrе unwilling tο spend thе same amount οf money οn quality forex education. Onlу уου саn dесіdе hοw serious уου аrе іn participating іn thе forex market. Yου hаνе tο understand thаt online forex trading іѕ bіg money аnd thаt уου’ll frequently trade іn hundreds οr even thousands οf dollars. Arе уου prepared tο gamble wіth уουr hard earned money without proper training? Hοw many trades саn уου afford tο lose before уου ѕtаrt tο lose more thаn thе course fee? I feel thаt without proper education, уου сουld bе thеrе within a week οr less.

Finally, уου dο nοt need tο sign up fοr expensive forex trading courses іf уου really don’t want tο. A grеаt way tο learn forex trading іѕ bу signing up fοr home study courses whісh cost far less.

One οf thе best home study forex trading courses today іѕ thе recently relaunched Kishore M forex trading course. Nοt οnlу dο уου qualify fοr a certificate frοm thе Metropolitan Business School, bυt іt аlѕο comes wіth 1 year free subscription tο hіѕ daily alerts аѕ well аѕ lifetime email аnd chat support

Yen back at 15-year high on forex hedging

The yen rose to a fresh 15-year high against the dollar in global forex trading yesterday (September 7th) as investors flocked to the hedge currency to limit risk exposure.

Amid renewed concerns about the strength of US recovery, forex brokers once more pushed the yen back to historic highs, likely adding support to the case for currency intervention.

The Bank of Japan's policymakers met earlier this week to discuss potential strategies to stem the rise of the yen, but voted against any direct intervention.

And with concerns about falling international payment revenues returning once more, the issue is likely to be high on the agenda again next month.

"We are aware that Japanese exporters have been significantly affected by the yen's strength," said the bank's governor Masaaki Shirakawa on Tuesday, adding that the currency's rise is being closely monitored.

In trading this morning, the dollar strengthened moderately against the yen and was trading at 83.70 yen at 09:00 GMT.

Forex: Canadian Loonie gains versus US Dollar following BOC rate increase to 1.00%

The Canadian dollar has advanced against the US dollar today in forex market trading following the interest rate increase by the Bank of Canada (BOC). The BOC raised its benchmark interest rate by 25 basis points earlier today to 1.00 percent from 0.75 percent as widely expected by market forecasts. This follows the July interest rate increase by 25 basis points as the BOC moves to bring the rate to normal levels after a prolonged period of ultralow rates following the financial crisis .

The Canadian currency has been charging higher against the other major currencies today on the news as the loonie has made gains against the euro, Japanese yen, Australian dollar, New Zealand dollar and the British pound.

The bank statement accompanying the rate decision said that the Canadian economy was “slightly softer in the second quarter than the Bank had expected, although consumption and investment have evolved largely as anticipated. Going forward, consumption growth is expected to remain solid and business investment to rise strongly.”

The statement also said that Canadian economic recovery may not come as quickly as previously expected as the bank sees a “weaker profile” in economic activity in the U.S. , a major export destination for Canadian goods.

Other Canadian news releases today showed that Canadian building permits fell by 3.3 percent in the month of July following a 6.9 percent increase in June, according to Statistics Canada. Market forecasts were expecting building permits to fall by 4.9 percent. The Ivey purchasing managers index was also released today and showed an increase to 65.9 for the month of August. This follows a score of 54.0 in July and surpasses the market forecasts looking for a 55.5 score for the month.

Forex chart: USD/CAD Hourly –

The US Dollar falling against the Canadian dollar today in forex trading following the bank to Canada’s interest rate increase to 1.00 percent. The USD/CAD pair is trading lower after increasing yesterday and fell through the 50-hour moving average in purple, looking to test the recent support level near 1.0330.

World markets rise as double-dip fears ease

 LONDON — World stock markets advanced modestly Monday as investors rode momentum from Friday, when an upbeat U.S. jobs report eased fears that the global economy could slip back into recession.

With Wall Street closed for a holiday, however, trading was expected to remain light.

Markets took heart after official data last week showed private employers in the U.S. added 67,000 jobs in August, more than analysts expected.

The figure bolstered optimism that the U.S. will maintain a slow but steady recovery from last year's recession and avoid another economic contraction later this year.

By mid-afternoon in Europe, Britain's FTSE 100 index was up 0.3 percent at 5,446.17, Germany's DAX was 0.3 percent higher at 6,153.31 and France's CAC-40 was up 0.3 percent at 3,684.20. Asian indexes closed higher and trading on Wall Street was to remain shut for Labor Day weekend after closing higher on Friday.

With most major governments reining in economic stimulus measures and many pushing through austerity spending cuts to reduce deficits, investors worry the global economy would be pushed into a double dip recession, particularly as the U.S. slows down quickly.

Because the U.S. economy is the world's largest and consumer spending there accounts for a fifth of global economic activity, the stronger-than-expected jobs data on Friday helped calm investors' frayed nerves after weeks of worrying indicators.

"The renewed flight to safety we have witnessed over the past month is overdone and risks an equally large reversal when the worries over a double dip subside," analysts from Rabobank said in a report.

"As the unexciting, steady and below-trend global recovery continues, it's important not to confuse it with a double dip recession."

Japan's benchmark Nikkei 225 stock index climbed 2.1 percent, or 187.19, to 9,301.32 and South Korea's Kospi rose 0.7 percent to 1,792.42.

Hong Kong's Hang Seng index added 1.8 percent to 21,355.77. Australia's S&P/ASX 200 gained 0.8 percent at 4,575.50. Markets in mainland China, Taiwan, India, Indonesia and Singapore were also higher.

The Dow Jones industrial average jumped 1.2 percent to close at 10,447.93 on Friday. The broader Standard & Poor's 500 Index rose 1.3 percent to 1,104.51.

Shares in the U.S. ended the week in the positive, the first time that has happened in a month. The early gains in September mark a stark turnaround from August trade, when shares fell on doubts about the global economic recovery.

The dollar fell to 84.24 yen from 84.27 yen on Friday. The euro was slightly lower at $1.2880 from $1.2895.

Benchmark oil for October delivery was down 40 cents at $74.20 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 42 cents to settle at $74.60 on Friday.

Noteworthy | Bats Global Markets had a record U.S. market share for August Read more: http://www.kansascity.com/2010/09/06/2203445/noteworthy-bats-global-markets.html#ixzz0ypySKXgE

 Bats Global Markets, a Lenexa-based electronic trading exchange, said it had a record U.S. market share for August of 10.6 percent and a high of 5.8 percent in Europe. The share of U.S. market trading for August dipped slightly from its 11 percent slice for July.

Done deal

Epiq Systems, which provides software for lawyers handling bankruptcy, litigation and other financial and regulatory matters, said it had successfully completed a nearly $30 million stock buyback. The company said it had repurchased roughly 2.3 million shares at an average price of $12.83.

Freaky speaker

“Freakonomics” co-author Stephen Dubner will be the featured speaker at Park University’s Xerox Global Business Lecture Series at 7 p.m. Oct. 7 at the Folly Theater. “Freakonomics,” written by Dubner and Steven Levitt, was published in 2005 and became a best-seller and cultural phenomenon with more than 4 million copies sold. The two later teamed on a sequel, ”Superfreakonomics.” Tickets for the lecture are $10 each and can be purchased at the Folly box office at 1020 Central

Crude Oil Falls for a Second Day on Speculation U.S. Fuel Demand Will Drop

 Oil declined to trade near a four- day low, as falling equity markets reinforced doubts about the global economic recovery while the end of the U.S. summer peak consumption season signaled lower demand from refiners.

Yesterday’s U.S. Labor Day holiday marked the end of the driving season. Refiners often idle units for maintenance in September and October as gasoline demand drops and before heating-oil use increases. The Stoxx Europe 600 Index fell as much as 0.7 percent. Asian stocks also declined, with the benchmark MSCI Asia Pacific Index snapping four days of gains.

“Weak Asian markets and the weak start in Europe are pushing oil lower,” Gerrit Zambo, a trader with Bayerische Landesbank, said from Munich.

Crude for October delivery dropped as much as $1.39, or 1.9 percent, to $73.21 a barrel in electronic trading on the New York Mercantile Exchange and was at $73.29 at 10:06 a.m. London time. Yesterday’s transactions will be booked with today’s trades for settlement purposes, as there was no floor trading on Labor Day.

Brent crude for October settlement declined 89 cents, or 1.2 percent, to $75.98 a barrel on the ICE Futures Europe Exchange in London.

Crude also dropped as the dollar gained for a second day against the 16-nation euro, reducing the appeal of commodities as an alternative investment. The U.S. currency was at $1.2769 to the European currency, up from $1.2876 yesterday in New York.

“Equities are weaker and the dollar is stronger, so for the next few days we’re likely to move in a $70-$75 range,” Frank Schallenberger, head of commodities research at Landesbank Baden-Wuerttemberg, said from Stuttgart.

Rising crude oil inventories in the U.S., the world’s biggest oil consumer, are also weighing on petroleum prices, Schallenberger said. U.S. stockpiles of crude are currently about 5 percent higher than a year ago.

Commodities: Oil retreats in subdued trading

LONDON (SHARECAST) - Crude oil futures fell on Monday with trading mostly subdued due to the US Labor Day holiday. 

While there was no floor trading during Monday’s holiday crude for October delivery fell 58 to $74.02 a barrel in electronic trading on the New York Mercantile Exchange. 

Concern about declining demand for oil drove prices lower, as the US driving season comes to an end. Monday’s Labor Day officially marked the end of the summer driving season. 

Unease about the struggling US economy and an oversupplied oil market is also weighing on oil demand. Crude inventory levels are now at the highest level since June, according to last week’s figures from the Energy Department. 

Traders will also be keeping an eye on Tropical Storm Hermine, which reached the Gulf of Mexico Monday evening US time. 

Gold for December delivery was little changed at $1,251.20 on the Comex division of the New York Mercantile Exchange. Floor trading was closed Monday for the US holiday.