Thanks God Pakistan won Twenty-Twenty Tournament played today at Lords, London. Before start of my post I must appreciate and acknowledge their efforts and congratulate to all Pakistani and cricket lovers on this victory. :: FOREX market consists of a global network of dealers. Forex trading system of this world performs trade of about $2 trillion each day. The enormity of the gigantic financial capacity of the forex trade can be truly grasped if you compare this mammoth amount to the $25 billion that New York Stock Exchange trader's trade per day.
.The quintessential qualities of a forex trader are discipline and endeavor. If you are diligent and logical in studying the forex market trends then it wouldn't take you much time to hit the jackpot in Forex trade. However, if you cannot manually manage to analyze all the currency trends yourself then you might take the help of a automatic signal service or a forex trading software which would send you alerts and signals about buying and selling currency after elaborate research and analysis. .If you use one of the automated Forex tools available in the market then you would be able to evaluate the trends of exchange rates and forex market conditions within a few minutes with the help of the data provided by your FX software. As a result you will be able to close your forex deal in less than an hour. Thus an automated forex tool would ensure that you are making optimum use of your trading time. .The global forex trading market is only merely remarkable because of the huge volume of monetary transactions that happens through it but it is also a commendable phenomenon due to its geographical dispersion. With the help of automated FX software you can trade in various local as well as international forex markets within different time zones without personally monitoring those various markets day in and day out..However, before you decide to buy particular FX software, you need to put in a little effort to search for a forex tool which is easy to use and is ideal for beginners. Glean information about that particular forex tool which you plan to buy and thoroughly read the testimonials for that particular forex trading software before you purchase it. If you really want to test the accuracy of your Forex trading robot then you must try to find forex trading software which has the ability to paper trade too, to see its return.
FOREX – FOREX AND FOREX::
Tax on SMS Good or Bad:
Although cell phone operators and subscribers may not be happy over the announcement of introducing 20 paisa tax per on SMS in budget 2009-10.
In the past, this sector flourished due to some good measures like reduction of GST from 21% to 19%, the reduction of Rs.250 on the import of mobile handsets as well as the reduction of activation tax by Rs.250. The companies have appreciated the government’s announcement to reduce SIM activation tax to Rs.250 from Rs.500, but are not quite satisfied with the cut in GST which was not reduced according to their demand to 16 per cent. The industry sees no benefit from present reduction in activation tax since the industry has already reached its maturity and hence the addition of new subscribers has greatly reduced.
Telecom industry is one of the major source of revenues for the government with annual contribution by the industry in the form of taxes is around Rs.65 billion.
Generally, official believes that industries providing basic services to the people are taxed lower then the general public but things are totally opposite here.
The total subscriber stands at 92 million i.e around 60% penetration ratio. It is not expected to go much higher than this and hence the reduction in activation tax will not be a major benefit to the industry. The reduction in taxes on the import of handsets will also not make any big difference since 90% of the cell phones are imported in the country through illegal channels. The illegal import witnessed a major increase last year when the government introduced a straight tax of Rs750 on all the handsets imported in the country. Therefore, the reduction in the handset tax will only result in decreasing the illegal import of handsets and will not contribute much to the exchequer.
Now lets move to the new taxes imposed on cellular industry in the budget 2009-2010 where the government introduced a very innovative tax of Rs.0.2 per Short
Messaging Service (SMS). Generally around 40 billion SMS are sent in Pakistan every year by the subscriber of cellular phones. With a tax of Rs.0.2 per SMS, the government expects to earn Rs.8 billion per annum.
The imposition of this new tax will discourage the users from using such an important mode of communication.
Since bulk SMS deals will become very difficult to operate, the telecom industry is expected to curtail them from the current levels. This will further result in decrease in the SMS usage and hence reduce the revenue generation for the government. Subscribers are wondering why the companies in Pakistan have offered free SMS packages by paying few rupees whether the sector was being facilitated through imposition of tax on each SMS. Similarly, imposition of a further turnover tax of 0.5% is another move beyond the understanding of common sense. If that was not enough, even a new tax has been imposed on the advertising sector which will pass it on to the customers. Since telecom industry is one major customer of all big advertising companies of Pakistan, it will also have a serious negative impact on the advertisement spend of the cellular industry which directly and indirectly employs hundreds of thousand of people.
Now it is not sure that heavy usage of SMS by the subscribers and with this tax in place, there would be decrease in number of SMS sent in billions per year. Some serious users are happy over this tax, as in their view this is a relief those inboxes filled with unknown and bogus sms (NB: FP.PR.)
Dollar Down - Oil Up:
On Wednesday, the dollar remained under pressure in Asian trade market, shifting logical impact on oil which above 70 dollars in Asia after volatile trade overnight sparked by a weakening US dollar and political unrest in key crude producers Iran and Nigeria. By the lunch dollar fell to 96.37 yen in Tokyo Market from 96.42 in New York late Tuesday. The euro also dropped to 1.3825 dollars from 1.3838 and to 133.25 yen from 133.45. However, Forex dealers expect Japanese yen will likely remain strong in Asian hours. The dollar lost ground overnight in New York after leaders from the world's top emerging economies delivered a warning shot on the domination of the US dollar as their new forum flexed its muscle at a first summit. Analysts see this soared due to political unrest following the presidential elections in Iran and bombing attacks on oil plants in Nigeria represent an explosive mix for the oil market. The leaders of the so-called BRIC nations -- Brazil, Russia, India and China -- called for a "more diversified" currency system after a meeting that came as talk continues over the dollar's future as the global reserve unit. In Tokyo morning trade the dollar briefly dipped below 96 yen for the first time in about two weeks, also driven down by struggling US share prices. The European single currency also dropped against the yen on growing risk aversion which encourages buying of the safe-haven Japanese currency. The euro is however, unwinding against the yen, after the Japanese currency was earlier sold off. For the longer term, this trend of buying the yen over the greenback may not last. Investors are buying the currency with so much confidence. Dealers expected the dollar-yen rate to be volatile in Asian trade::FP:Pr:
