Tuesday, April 3, 2012

Money talks in search for London Olympic hotels

LONDON (AP) ? Coming for the Olympics with money to spend? Then there's still time to ensure you can take tea at The Ritz, drink at the Savoy's American bar, or sleep in an Art Deco room at Claridge's.

Most of London's most exclusive hotels have been booked for the Olympics, snapped up by Olympic officials or companies block-booking rooms for favored customers, but there are still amazing places to stay.

That is, if you can afford the bill.

"You can still get some rooms in certain periods of the games, although we expect to be fully booked soon," said Simon Negger, spokesman for the Maybourne Hotel Group that owns three of London's most iconic hotels: Claridge's, The Connaught and The Berkeley.

London's hotels are walking on their own balance beam this Olympic year, trying to maximize revenues during the July 27-Aug. 12 event while not alienating loyal customers and still fulfilling obligations to Olympic organizers, who asked all hotels to hand over some rooms to house Olympic officials, athletes and delegates during the London Games.

Some have not increased rates beyond normal high summer season prices ? which in central London can often hit several hundred pounds (dollars) a night ? but have imposed minimum stays and stricter cancellation policies.

Claridge's still has rooms available ? from around 600 British pounds ($955) for a double room to over 1,000 pounds ($1,600) for a suite ? but wants customers to book a minimum of five nights over the Olympic period.

The Savoy, which was refurbished in time for the Olympics, can put you up for one night but only if you are prepared to pay at least 2,750 pounds ($4,400) for one of its suites on the banks of the Thames River.

At The Ritz, where you can stay for just one night if you want to, at rooms costing from 755 pounds to 3,255 pounds ($1,200 to $5,200).

The Olympic organizers are partly responsible for the fact that there are still hotel rooms free. Hotels began getting calls from customers wanting to book rooms for the London games years ago, but organizers had asked hotels to hand over 40,000 rooms to house Olympic dignitaries. In January, they handed 8,000 rooms back for hotels to sell to the general public. And it may well hand more rooms back in the next few weeks.

"The hotel industry was expecting to get some rooms back early this year so its not a huge surprise, but it does mean rooms are available later in the day than you may expect," said Miles Quest, spokesman for the British Hospitality Association. "I am still expecting central London to be 100 percent full by the time of the games."

The London hotel industry's promise, that it could provide several thousand hotel rooms at a variety of prices, was a crucial part of London's Olympic bid. The Olympic committee liked the fact that the city already had a wide range of hotels and was willing to build even more.

The new hotels being built reflect changing priorities.

The grand, old-fashioned hotels see themselves as meeting places. People visiting the city on vacation or on business can stay there and bump into locals who have stopped by after a shopping trip to have tea or celebrate a special birthday or other event.

The new wave of London hotels, meanwhile, specialize in keeping the public away. With Britain's economy still struggling, these new properties have been welcome investments, funded by businessmen from the Gulf states looking to create the kind of places they would like to stay.

"People from the Arab world feel at ease in London," said Gerald Lawless, executive chairman of the Jumeirah Group, the Dubai hotel group that is expanding its brand around the world. "They often studied in Britain as students and are very loyal to the city. They want places they visit often."

Jumeirah's latest project ? Grosvenor House Apartments ? is typical of the new breed of hotels. It's not the most romantic place ? the decor is dark, somber and masculine. There are padded walls and thick carpets in the halls to hush out the sounds of London's traffic roaring past outside, and security guards on each floor.

The apartments off London's prestigious Park Lane, which open April 2, are built for those seeking quiet and high security and don't care how much it costs. The smallest apartment costs 1,500 pounds ($2,400) a night, with a minimum stay of a week. The building is not open to the public ? anyone who wants to visit a guest will have to first find it, the signage is so discreet it's almost invisible ? and then sign in and wait for their hosts to let them in. The more expensive suites have butlers to fetch newspapers, organize dinners, call taxis ? anything involving contact with the outside world. The penthouse suite comes with the free use of an Aston Martin.

Not all of London's hotel industry is relying on the Olympics ? some of the most anticipated luxury hotels will open after the games end.

The Shangri-La hotel in The Shard, Europe's tallest building, is expected to open sometime next year and The Wellesley Townhouse, which promises to be London's first "six star" ultra-luxurious hotel with its own cigar bar, opens in November.

One hotel is bucking the "rooms still free" trend. The Goring Hotel ? the family-run luxury hotel where Kate Middleton stayed the night before her wedding last year to Prince William ? is quintessentially English, with summer lawns and Edwardian rooms full of chintz and china tea cups. Millions watched on television as Middleton stepped out of its foyer and gave the public its first glimpse of her top-secret wedding gown.

Little wonder that, for the Olympics, the Goring is fully booked.

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U.S. accuses bank of massive 'wash-trading'

U.S. regulators are accusing one of Canada's largest banks of engaging in hundreds of millions of dollars in illegal futures trades to reap tax benefits on its holdings of company stocks.

The Commodity Futures Trading Commission filed civil charges Monday against Royal Bank of Canada, saying the bank made the sham trades with itself. The agency said it is the largest case it has brought against so-called wash trades, which cancel each other out. Royal Bank of Canada engaged in "a wash-trading scheme of massive proportion," the CFTC said.

In addition, the agency alleged that the bank concealed the true nature of the trades and made false statements to a futures trading exchange, OneChicago.

The CFTC alleged that Royal Bank of Canada made the trades in stock futures contracts from June 2007 to May 2010 at non-competitive prices with two foreign subsidiaries. The transactions weren't "at arm's length," as required by law, and as reported by the bank to the exchange, the agency said.

An arm's length transaction either is one in which the buyer and seller aren't directly related or one done at a price that would prevail if they were unrelated. The federal rules allow futures trades between companies and subsidiaries, but only if they are done on an arm's length basis.

Toronto-based Royal Bank of Canada called the CFTC's allegations "baseless" and said it will contest them in court. The bank said the trades had been vetted in advance by the CFTC and futures exchanges back in 2005 with no objections being lodged against them, and they were monitored for several years.

The CFTC is seeking a permanent injunction against the bank committing further violations of the federal commodities laws and rules, and unspecified monetary penalties in its civil lawsuit filed in federal court in Manhattan.

The CFTC said the bank's trading strategy was devised to gain Canadian tax credits on its holdings of U.S. and Canadian company stocks. The strategy was created and carried out by a group of executives at the bank. However, the agency's suit didn't name any individuals.

"Today's action should make clear that the CFTC will not hesitate to bring charges against even the most sophisticated market participants who unlawfully exploit the futures markets for their own gain," SEC Enforcement Director David Meister said in a statement.

Meister, questioned by reporters, wouldn't say whether related suits could be filed against individuals in the future or if the alleged misconduct by Royal Bank of Canada also occurred at other banks.

The buyer or seller of a futures contract commits to purchase or sell something at a specified date and price.

There were two types of futures trades the bank engaged in that corresponded to two different Canadian tax benefits, the CFTC said. One benefit allows Canadian companies that hold U.S. stocks that pay dividends to get a tax credit for the U.S. dividend tax they pay. The bank bought stocks in U.S. companies that it expected to pay dividends on certain dates.

As a hedge against risk, the CFTC said, the bank also sold single-stock futures contracts at the same time to a foreign subsidiary. The subsidiary sold the stock short, meaning it bet against the stock ? borrowing shares, selling them and then buying them when the stock price falls and returning them to the lender, while pocketing the difference.

The net effect was a "wash," but the bank got a tax credit as a result, the CFTC said.

Another Canadian tax benefit allows Canadian companies that hold shares of other Canadian companies for more than a year to receive dividends tax-free for a year. In that case, Royal Bank of Canada bought baskets of Canadian stocks that it held for more than a year and also sold stock-index futures contracts as a hedge to another foreign subsidiary, the CFTC said.

"Before we made a single trade, we proactively contacted the exchange to seek its guidance," Royal Bank of Canada said in a statement. "These trades were fully documented, transparent and reviewed by both the CFTC and the exchanges, and for the next several years were monitored by them. RBC's trading was permissible in 2005, and it is permissible today under the CFTC's published guidance."

The bank said that since there was no objection in 2005, it is "absurd" for the CFTC to claim now that the trades were fictitious or wash sales.

The trades were engaged in by independent RBC entities with the intention of taking genuine market positions, in accordance with CFTC guidelines, the bank said. "They were executed at competitive market pricing and no market participants suffered any negative impact."

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Monday, April 2, 2012

WrestleMania results: World Heavyweight Champion Daniel Bryan vs. Sheamus

MIAMI ? WrestleMania XXVIII started with an earth-shattering bang as Sheamus defeated Daniel Bryan in 18 seconds to capture his first World Heavyweight Championship ? setting a new record for the quickest World Heavyweight Title change in the history of The Showcase of the Immortals. (MATCH PHOTOS)

As Bryan went to kiss his girlfriend AJ, he ignored the fact that the bell had already rung to start the match. Knowing all too well that a Superstar needs to take any advantage he can to find success at The Show of Shows, The Great White didn?t hesitate to capitalize on his opponent?s blunder ? Brogue Kicking him for the huge victory.

Since cashing in his Money in the Bank title opportunity at WWE TLC to capture the World Title, Bryan has found a way to retain his title in the most controversial of circumstances. During that time, he has taken on a much more conceited, braggadocios personality that has turned both the WWE Universe and the majority of the locker room against him. ?

Sheamus promised to teach his adversary humility in their WrestleMania clash. And if beating the champion in 18 seconds is the measuring stick, the WWE Universe is sure to agree that he accomplished both his goals on The Grandest Stage of Them All.

With his history-making feat, Sheamus becomes a three-time World Champion, while Daniel Bryan leaves WrestleMania with egg on his face. How will the submission specialist react to falling to the Irish Superstar in such a hasty fashion? Find out Friday on SmackDown on Syfy at 8/7 CT.??

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CellBazaar : RealEstate Land Developer : Ready Plot

Category RealEstate Land Developer

Tk. Negotiable, per Unit

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Summary
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Details
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Internet Freedom: Diplomats Join The Dissidents, Geeks And Censors

granny holding internet freedom torchIn its new ?Enemies of the Internet? report, the international watchdog group Reporters Without Borders depicts an Internet under unprecedented pressure from the world?s autocratic regimes. The study lists twelve such ?enemies,? including Iran, North Korea, China and Saudi Arabia, and observes that an increasing number of governments are not content merely to take domestic steps to control online space. ?Freedom of expression on the Internet,? the study notes, ?is no longer the sole preserve of dissidents, geeks and censors. Diplomats have followed in their wake.? Internet freedom has become a foreign policy issue.

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Sunday, April 1, 2012

How Internet Forums Can Increase Your Web Site Visitors : Online ...

Author : gregory burrus

One thing that can help you get more traffic to your websites and blogs is by utilizing all the Internet forums. Whatever you are marketing, you should be able to come across at least one forum that covers that niche. The best sources of traffic will be the larger more popular forums and you should use a number of different forums to get more visitors. Finding the best means of driving more traffic to your site using forums is the substance of this article.

An important point to mention when marketing on forums is that your likely traffic will be coming from more than one source. Firstly, you will hopefully get site visitors direct from the forum itself. People will come across your link and if it is intriguing there is a good chance they will click the link to visit your web site. The best part is that as you are promoting in a forum that relates to what you are promoting, the traffic is actually highly targeted. The other way to get more traffic is that every time you post a comment on a forum or ask a question, you will be building links to your site which will help you get better search engine rankings.

The first step is to look for forums that are relevant to your niche, but limit the numbers so that you don?t join more than you can take part in. By joining forums you will have a profile that can include a back link to the site you want to advertise, so don?t forget to do this. The next step is to get the url of your member profile and ping it to all the ping services. This will make sure the search engines index your links to get you started.

Forum signatures must be tackled next and you should insert hyper linked keywords into them that will take users to your webpages. This way every time you leave a comment on the online forum your link will automatically be included to the comment in the signature. However, you will have to realize that some forums will not allow you to add a signature until you have made a particular amount of comments, normally 10, but all forums will require different amounts.

Be sure that you become an active member in each of the forum discussions that you?re a member of and continue logging in every day. This way you will not run the risk of being seen as a spammer but you will get an increasing number of backlinks for the search engines to find and more link exposure to other members of the forum. Another thing you will learn is that the forum pages may also get a good ranking in the search engines, so even those who are not members of the forum, may end up seeing your links. If you become an active forum member, other members will see that you have spoken on a specific topic previously which can gain you an ?expert? status and give further weight to your backlinks.

Gregory Burrus invites you to learn more because it is time to come learn more now;

Comments

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Tighter Oil Supply in 2012?

Tighter Oil Supply in 2012? By STEVE AUSTIN for OIL-PRICE.NET, 2011/08/01

Predictions for the future? Here's one based on the available pointers: Tighter oil supplies in 2012. In fact, brace yourself, a potential demand surge could, in essence, bring this faraway calculation of next year, nearer by three months. And with it higher price for oil. Last month, the IEA announced release of strategic oil reserves to the market through August. Historically, such a measure is taken during desperate times like war. Well, goes to show how tight supply really is.

Goldman Sachs Group Inc. has, in a recent report, said that oil supplies would become "critically tight" in 2012. Analysts of the bank predict that oil prices could go even higher as spare production capacity and inventories are "effectively exhausted." So, why not increase production, from say, Saudi Arabia? Well, Goldman has also shared apprehension on the ability of Saudi Arabia to raise oil production in the face of eventual scarcity as it believes that Saudi Arabia won't be able to pump as much extra oil as many people believe. On a scary note, the scarcity could occur as early as later this year.

First to the case of Saudi Arabia:

It's no secret that Saudi Arabia, in a desperate attempt to hold on to power, is trying hard to win back its people. After all, the wave of massive protest for democracy did shake the Middle East. So what does it do? Take this: King Abdullah's has announced generous subsidies to construct 500,000 houses for the poor, a friendly mortgage law for the common man to buy property, finances for infrastructure, religious organisations, and for improving the education and health system, a pay rise for workers in the public sector, unemployment benefits, and more education allowance for students. To be sure, it also helps that the country has massive reserves for all the spending, thanks to oil. In two packages, the first announced in February for $36 billion, and the second in March for $94 billion, the ruler is fighting to win back his people. Together, the $130 billion is equal to 30 percent of the kingdom's GDP, or revenues from oil export for eight months.

All this, the IMF predicted, would help Saudi Arabia's GDP growth by 7.5% (Since revised to 6.5 per cent ). With 24.9 percent of the 1,000 billion barrels proven oil reserves of OPEC, the country has the largest oil reserves in the world and is also one of the largest producers of oil, next only to Russia. IEA holds that Saudi Arabia is capable of producing up to 12 million barrels of oil a day, compared to nine million barrels a day in May. Early this year with tensions ranging in Libya, the IEA's executive director, Nobuo Tanaka had said that Saudi Arabia could easily offset any shortfall in production from Libya.

With such huge reserves, in the meeting on June 8, Saudi Arabia, along with Kuwait, and the UAE pressed for increase in production quotas. But, countries like Libya, Algeria, Venezuela, Ecuador, Iraq, Iran, were against the move. Consequently, no decision was reached and the production quotas remained unchanged. Of course, the last thing the Saudi government needs at this point is high inflation due to import of expensive food grain, offset by high transportation charges due to high oil prices. Some indicators to gauge the extent of price fluctuation in recent times: The oil price hit $101.08 (Brent crude) a barrel in February, the highest since October 2008 (In June 2008, they were jogging around $147 a barrel). In June, 2011 they fell to $90 a barrel amid fears of supply disruption due to the closure of Suez canal and Egypt unrest.

Hence, Saudi Arabia has, quite unilaterally, pledged to increase production, notwithstanding the OPEC decision. According to a Platts survey, oil production from OPEC shot up by 530,000 barrels per day in June, at a total of 29.57 million barrels per day, compared to the 29.04 million b/d in May. And guess what? Saudi Arabia's production was up by 450,000 barrels per day to reach a total of 9.5 million b/d. Kuwait, UAE too have increased production, according to the survey. And don't forget most of this increase is just enough to meet the growing demand at home.

Saudi Arabia, essentially, is putting more oil on the market to pay for generous welfare programs, basically "buying out" its population from joining in on the unrest that spread through other oil producing nations. This is unsustainable and will accelerate well depletion. At this point, no one knows the actual reserves of the country, which is dangerous in itself.

IEA's move

The twenty eight member IEA, announced its decision to would release oil, about 60 million barrel, from the strategic reserves this August. This, it said, was to compensate for the loss due to the volatile situation in Libya. It is only the third time since established in 1974 that the IEA has taken such a step. One thing to be noted is that Libya, with less than two percent of the global oil output, isn't a huge player in the oil industry. In real terms, thus, the shortfall isn't going to make any significant changes to the oil supply. From a short term perspective, this move would help lower the price of oil. (The news did ease the oil price, since regained. ) However, in the long term, the reserves have to be replaced, and if the demand rises, this short term measure will push up oil prices.

Demand

As a more affluent population in BRICs consumes more goods, fuel usage for transportation and farming also increases. According to a UN report earlier this year, the world population would reach seven billion later this year and increase to 14 billion by 2100, if left unchecked. This doesn't necessarily abide by the math rule of 'the more people, the more pressure on the resources of the planet' theory, as people from the wealthy nations consume more, and waste more. However, what happens when the poor move higher on the economic scale. They have every right to the resources too, don't they? Still, continued growth in BRIC countries means motorized vehicle usage will increase. IMF has, in its update of the WEO World Economic Outlook, predicts a growth rate of 7.8 percent for India, and 9.2 percent for China in 2012 next year. This will have a lever effect: less oil production capacity while the demand skyrockets.

According to Bureau of Economic analysis the US economy has declined by 1.8 percent in the first quarter. The latest U.S. job report showed a weak economic recovery with just 18,000 jobs created in June, and in the revised World economic outlook, IMF has since adjusted the growth for advanced economies to 2.5 percent from 2.6 percent. Indeed, the earthquake in Japan, the resultant disruption in the supply chain, and uncertainty with the varying pace of the economic recovery in the US economy's progress, are some of the reasons for the low demand for crude oil for the first half of 2011.

However, when US returns to faster growth, the Japanese economy bounces back, and Europe recovers from the debt crisis and thus a global recovery, what do we have in our hands, a supply deficit for oil.

In fact, Goldman predicts that the world economy would accelerate in the second half of the year itself, increasing demand. "Prices and returns will rise further later this year and into 2012," a report from the bank said, predicting that Brent crude would average at $120 in six months and $130 in 2012. An EIA report estimates that the oil demand will surpass production by 1.16 million barrels per day this year. The reports also suggests that the oil demand around the world to rise by 1.6 million bbl/d in 2012, a gap of 0.5 million barrels per day (only with increased production). The IMF, for its part, in the updated World Economic Outlook (WEO) for 2011, puts the assumed price for oil based on futures market at $105.25 in 2012. Analyst Hussein Allidina, from Morgan Stanley, said "We remain bullish on oil, particularly in the second half, and expect inventory draws will prompt OPEC to increase production, at the expense of spare capacity".

Of course, by 2012, we'll know which of these predictions come true, though wishful thinking hopes that, somehow, we've got it all wrong. Banks are bullish, you know why. But can we sit back, wait and watch as oil prices spiral, because spare capacity was exhausted?

So, really, did the Mayans predict the end of the world in 2012 or did they run out of space on their calendar? More like what Lady Macbeth said, "Almost at odds with morning, which is which." Superstitions and old wives tales aside, if we look at the oil supply/demand numbers, with close to 7 billion people, we are approaching the planet's carrying capacity. With the oil market set to go through a lot of stress in the coming year, 2012 will surely mark a turning point to remember.

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