| Stalin's Arctic Mines Help Expansion
NORILSK, Russia (AP) — Wearing fireproof coveralls, Ilya Dmitriyev plods past a smelter that belches smoke and gushes molten metal, the chief product of this gritty patch of Arctic tundra where the air tastes of sulfur and concrete apartment blocks crumble on the shifting permafrost. This is the home of Norilsk Nickel, a former slave labor camp — once part of the dictator Josef Stalin's infamous Gulag — that is now the gray capital of Russia's glittering new metals empire. Since President Vladimir Putin came to power in 2000, oil and natural gas have fueled Russia's economic rebirth, creating a generation of young Russian billionaires. Now metal is Russia's latest natural resource bonanza. The rise of the industry has delighted investors but has caused disquiet among foreign security analysts.
Royal Consultants Provides Many New York Mortgage Options
A second New York mortgage is a great way to consolidate debt or even do some home repairs. Royal Consultants can provide fixed payment second mortgages or an equity line of credit, both of which are offered at competitive rates. Syosset, NY (PRWEB) August 10, 2007 -- Royal Consultants (http://www.royalhomeloans.com) is proud to offer consumers up to 95% financing on a second mortgage. The company specializes in New York mortgage services including home equity, debt consolidation, first time buyers, and more. Now the company is excited to offer second mortgages for those that are qualified. The mortgages can be obtained relatively easily, with a full income check or stated income for the self employed borrower. Many homeowners find that a second mortgage is a great way to update their home or make major repairs.
Rutgers probed over $15,000 fee from lender
Law enforcement authorities are investigating whether Rutgers University's athletic department got kickbacks for promoting a private student loan company on its Web site. Rutgers was paid $15,000 for allowing a company named University Financial Services to advertise on its athletic Web site, the school confirmed. The company uses the school's block R logo on a Rutgers red background on the tease to its site. It lists a phone number that spells out the name of Rutgers' sports teams: 877-RU.KNIGHTS. .
A Pearl in the rough
"Wealth, like a tree, grows from a single seed. The first (money) you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed, the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in contentment beneath its shade - George S. Clason in "The Richest Man in Babylon" OVERVIEW Although the majority of investors would find the words profitable and Zimbabwe to be oxymoronic, forward thinkers recognize the importance of positioning themselves in strategic industries for the future. The Zimbabwe Investment Authority (ZIA) recently announced the approval of projects worth US$400million during the six months to June 2007. The investments are from companies based in China, Malaysia and the Far-East sub-regions - no surprises there.
Don't ignore the global warnings
Global sharemarkets have been on a roller- coaster ride lately. It looks like the period of cheap liquidity, large risk appetites and softening lending standards has finally come to an end. Lenders in the United States had advanced large loans to people who could not really afford them. Default rates have risen sharply and the purchasers of that subprime mortgage debt have seen the value of their assets take a hit. Some hedge funds have gone into liquidation as result, and the cost of credit has risen sharply. There are reports that rising funding costs have led to the cancellation of international financing deals worth more than US$60 billion (NZ$78 billion) since early July. A senior US banker called the situation the worst financial market atmosphere in 22 years. The credit market turbulence has spilled over into sharemarkets, which quickly retreated from their lofty highs that seemed to reflect the expectation that the easy money party would go on for ever.
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