(IRAS) Integrated Research Application System (IRAS) - Only tap an IRA, 401(k) as last resort

You've built a financial fortress with several walls of protection. Now, facing a job loss, you need to decide which bastions to hunker down behind. There are advantages to tapping certain accounts and assets before others. "Jobless benefits and personal savings would be the first line of defense," said Gary Daniels of Personal Financial Mavens in Payson. After that, he said, it's often a matter of individual circumstances. Ideally, like a stout castle, you will have several rings of defense, perhaps with a moat and drawbridge for good measure. Occupying the innermost sanctum of your castle should be your retirement accounts.

Financial advisers routinely suggest restraint before withdrawing retirement money, even when times get tough.

If you pull cash from 401(k)-style plans or traditional Individual Retirement Accounts, you would trigger federal and state taxes, typically on the full amount. You also face a 10 percent early-withdrawal penalty if under age 59 1/2, though that drops to age 55 if you pull money from 401(k) accounts and you're laid off or leave the job for other reasons. "The taxes are almost always much higher than expected, often more than 40 percent of the amount withdrawn if there is a 10 percent early-withdrawal penalty," Daniels said.

Taxes and penalties even could apply on early withdrawals from Roth IRAs.

But taxes aren't the only reasons to leave retirement accounts alone.

With withdrawals, you'd also be depleting your retirement savings and raising the likelihood of having to rely solely on Social Security in old age. As it is, millions of Americans already are way behind in retirement planning. "An issue even bigger than taxes or penalties is what your account could be worth in 10 or 20 years," said Stephen Barnes, a certified financial planner and chartered financial analyst at Barnes Investment Advisory in Phoenix.

Plus, you'd be removing money from accounts that enjoy legal protections.

"Both federal and Arizona laws protect $1 million or more of retirement funds from creditors in a bankruptcy," said Daniels, who is also a certified public accountant.

If you withdrew money from retirement accounts, those amounts would be subject to regular taxes and possibly penalties that probably wouldn't be discharged in a bankruptcy proceeding, he said. But while many jobless and underemployed Americans seem to recognize these dangers, they still might not be able to avoid retirement-account withdrawals if their employment problems persist.

Respondents in a new survey by the Transamerica Center for Retirement Studies said they relied mainly on jobless benefits and personal savings during the first year out of work or being underemployed. But after a year, more survey respondents started using credit cards heavily and draining their retirement accounts. Read More

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UniSIM - UniSIM and Business China offer five Chinese-related scholarships | SIM University (UniSIM)

SINGAPORE - SIM University (UniSIM) and Business China are offering five new scholarships to help nurture young Singaporeans who can be bilingual and bi-cultural professionals. The scholarships - which will be awarded to five recipients for a start - are for Chinese-related degree programmes, such as Chinese Language and Literature, Translation and Interpretation, as well as Early Childhood Chinese Language Education. The scholarships, which are bond-free, will cover up to 80 per cent of total course fees.

The scholarships are for Business China members and staff of corporate members who are non-degree holders.

This is the first time Business China is working with an educational institution. Business China chief executive officer Low Yen Ling said: "The second thing we'll do is work with UniSIM to see how in the longer term we can scale this beyond five students and five modules that they can choose from."

Ms Low, who is also a Member of Parliament for Chua Chu Kang GRC, added that the non-profit organisation is "exploring similar partnerships with other esteemed educational partners". Read More

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Organization of Petroleum Exporting Countries (OPEC), Saudi Arabia

(OPEC) Organization of the Petroleum Exporting Countries) is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again.

According to its statutes, one of the principal goals is the determination of the best means for safeguarding the organization's interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry.

OPEC's influence on the market has been widely criticized, since it became effective in determining production and prices. Arab members of OPEC alarmed the developed world when they used the “oil weapon” during the Yom Kippur War by implementing oil embargoes and initiating the 1973 oil crisis. Although largely political explanations for the timing and extent of the OPEC price increases are also valid, from OPEC’s point of view[citation needed], these changes were triggered largely by previous unilateral changes in the world financial system and the ensuing period of high inflation in both the developed and developing world. This explanation encompasses OPEC actions both before and after the outbreak of hostilities in October 1973, and concludes that “OPEC countries were only 'staying even' by dramatically raising the dollar price of oil.”

OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in Alaska, the North Sea, Canada, the Gulf of Mexico, the opening up of Russia, and market modernization. As of November 2010, OPEC members collectively hold 79% of world crude oil reserves and 44% of the world’s crude oil production, affording them considerable control over the global market. The next largest group of producers, members of the OECD and the Post-Soviet states produced only 23.8% and 14.8%, respectively, of the world's total oil production. As early as 2003, concerns that OPEC members had little excess pumping capacity sparked speculation that their influence on crude oil prices would begin to slip. Read More

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opec, pec, dtu, dce, nsit

Organization of Petroleum Exporting Countries (OPEC),

What Does Organization of Petroleum Exporting Countries - OPEC Mean?

An organization consisting of the world's major oil-exporting nations, OPEC was founded in 1960 to coordinate the petroleum policies of its members and to provide member states with technical and economic aid. OPEC is a cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries.

Saudis Face Opposition to Possible Increase in OPEC Oil Output

Any effort by Saudi Arabia to push for an increase in OPEC’s oil output is likely to face resistance from some members as they meet to review production levels, according to the Angolan oil minister.

Ecuador, Venezuela and Angola itself said oil markets are well supplied and that they see no reason to raise production. The group’s 12 members began meeting today in Vienna at 10:30 a.m. local time.

“People are talking about an increase,” Angolan Oil Minister Jose Maria Botelho de Vasconcelos told reporters yesterday in the Austrian capital. “We have to wait and see. My feeling is there is no need. The market is supplied at this time. There are some geopolitical problems.”

The Organization of Petroleum Exporting Countries, which pumps 40 percent of the world’s crude, will raise its official ceiling on output for the first time since 2008, a Gulf delegate with knowledge of the matter said yesterday, declining to be identified because he isn’t authorized to speak publicly. OPEC ministers are meeting amid speculation that Saudi Arabia, the group’s largest producer, wants to add as much as 1.5 million barrels a day to global supply to help replace lost Libyan supplies and meet growth in demand later this year.

U.S. crude for July delivery dropped as much as 80 cents to $98.29 a barrel in electronic trading on the New York Mercantile Exchange and was at $98.31 at 8:34 a.m. in London. Prices have gained 37 percent over the past 12 months.

Analysts Foresee Increase

Michael Wittner, the head of oil-market research at Societe Generale SA in New York, said yesterday that OPEC is likely to increase its target by as much as 1.5 million barrels a day. Morgan Stanley also forecast an increase of 1.5 million barrels, starting this summer.

Venezuela’s President Hugo Chavez said he sees no need for a production increase for now. Chavez, speaking on state television during a visit to Ecuador, said prices are reaching a fair level and will keep rising in the next few years.

Ecuador’s President Rafael Correa agrees. Correa, speaking yesterday in the Ecuadorean coastal city of Salinas, said $100 a barrel is a “just” price for oil, according to comments broadcast on Venezuelan state television.

Iran, the group’s second-biggest producer, has historically taken a hard line on oil prices, and its OPEC Governor Mohammad Ali Khatibi said on June 6 that his country would argue against raising output. “There is no need to increase production” at this time, Khatibi said, according to the Xinhua news agency yesterday.

Libyan Crude Missed

OPEC is meeting as fighting in Libya shuts off most of the output from Africa’s third-largest producer. A rebellion against Libyan leader Muammar Qaddafi has cut shipments from the North African country by almost 90 percent, according to Bloomberg estimates.

The group announced its biggest-ever supply cuts in December 2008 amid a collapse in demand, capping production at 24.845 million barrels a day for all members except Iraq, which is exempt from the quota system. OPEC’s compliance rate with those limits was 69 percent in April, it said in its most recent monthly report on May 12.

OPEC’s members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. Read More

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フッ化水素 Hidrogen fluoride

フッ化水素（フッかすいそ、弗化水素、hydrogen fluoride）とは、水素とフッ素とからなる無機化合物で、分子式が HF と表される無色の気体または液体。水溶液はフッ化水素酸 (hydrofluoric acid) と呼ばれる。フッ酸とも呼称される。毒物。

フッ化水素は、蛍石（フッ化カルシウム CaF₂ を主とする鉱石）と濃硫酸とを混合して加熱することで発生させる。

水にフッ素を反応させると、激しく反応してフッ化水素と酸素が生じる（この反応様式は、塩素や臭素と異なる）。

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Anil Ambani, Dhirubhai Ambani, Anil Ambani House, ADAG, Icegate 1.5

Order on Anil Ambani probe plea at 4 pm; ADAG shares down ; Anil Dhirubhai Ambani Group (ADAG) stocks, on Thursday, slipped anywhere between 3-7% on news of a possible CBI trial court order on plea to probe Anil Ambani.

Speaking on the matter, eminent corporate lawyer HP Ranina said Anil Ambani could be interrogated depending on evidence collected by the CBI so far. "It remains to be seen whether those already in custody have let out names," he said.

ADAG stocks tank

Reliance Communications touched an intraday high of Rs 95.50 and an intraday low of Rs 87.05. At 14:41 hrs the share was quoting at Rs 88.30, down Rs 5.40, or 5.76%. It was trading with volumes of 3,769,297 shares.

Reliance MediaWorks touched an intraday high of Rs 139.25 and an intraday low of Rs 127.50. At 14:40 hrs the share was quoting at Rs 127.80, down Rs 9.45, or 6.89%. It was trading with volumes of 440,985 shares.

Reliance Infrastructure touched an intraday high of Rs 586.40 and an intraday low of Rs 540. At 14:41 hrs the share was quoting at Rs 547.60, down Rs 32.00, or 5.52%. It was trading with volumes of 389,281 shares.

Reliance Capital touched an intraday high of Rs 543.50 and an intraday low of Rs 508.50. At 14:41 hrs the share was quoting at Rs 510, down Rs 14.80, or 2.82%. It was trading with volumes of 1,063,684 shares.

Reliance Power touched an intraday high of Rs 121.40 and an intraday low of Rs 115. At 14:41 hrs the share was quoting at Rs 116, down Rs 3.90, or 3.25%. It was trading with volumes of 1,007,938 shares.

Reliance Broadcast Network touched an intraday high of Rs 72 and an intraday low of Rs 68. At 14:41 hrs the share was quoting at Rs 68, down Rs 3.05, or 4.29%. It was trading with volumes of 63,391 shares. Read More

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印伝, Chuan mark, leather印伝 日本

印伝かわいいストラップに

甲府市朝気の甲州印伝製造販売「印傳(いんでん)の山本」が、北杜市在住のグラフィックデザイナー小池愛さんのデザインしたキャラクターを伝統工芸の印伝に採り入れて、携帯ストラップを作成した。伝統的な柄が特徴の甲州印伝だが、ポップな図柄は若い世代からの人気も集めそうだ。

伝統工芸とかわいらしいデザインが融合したストラップは、藍と茶のシカのなめし革製。小池さんの作品に登場するうさぎの「ティキ」とひよこの「パフィー」が漆で描かれている。「『伝統工芸の敷居は高い』という印象を一新し、若い世代にも印伝を手に取ってもらいたい」と、制作を担当した同社の山本裕輔さん（２８）。

同社は昨年５月、人気の携帯電話ゲームのキャラクターを柄にした携帯ストラップ、がま口財布などの関連商品を開発。話題を集めた。キャラクターの採用は今回で２回目となる。

小池さんは、国内外の名所を背景に、ウサギやヒヨコなどのキャラクターが登場する作品を展開している。以前から自分のキャラクターを甲州印伝にしてみたかったといい、小池さんの作品を多く展示する「清春　旅と空想の美術館」（北杜市長坂町中丸）の清水純子館長が山本さんに紹介。山本さんが快諾し、コラボレーションが実現した。

山本さんは「山梨の作家がデザインし、山梨の職人が作った完全な『メイドイン山梨』。若い世代を通じて山梨を発信し、盛り上げていきたい」と話している。 続きを読む

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Best Stocks : StanChart sees gold at $2,100/oz in 2014

Gold's "super cycle" could see prices averaging $2,100 an ounce by 2014 and even approaching $5,000 later in the decade, Standard Chartered said in a report on Thursday, as demand rises in burgeoning Asian economies. Gold prices have risen from $265 an ounce in early 2001 to a record $1,461.90 an ounce this week, lifted in recent years by safe-haven buying linked to the credit crunch, dollar weakness, producer de-hedging and lower official sector sales.

In the decade to come, soaring demand in major consumers China and India, where incomes are rising, is likely to extend this further, the bank added. "We find that there is a powerful relationship between income per head in Asian emerging markets and the gold price, which suggests further significant upside for gold," it said in the report. "Also, our FX team is forecasting further (dollar) weakness against the Chinese yuan and Indian rupee."

This would make dollar-priced gold cheaper for holders of those currencies. "Our base-case forecast is that prices rally to peak at an average $2,107 an ounce in 2014, although our statistical modelling also suggests a possible 'super-bull' scenario of gold prices rallying up to $4,869 an ounce in nominal terms by 2020."

It said it did not expect a rise in headline U.S. interest rates, currently at historically low levels, to derail gold's rally until real rates start rising in several years' time. Increased primary gold production may have a negative effect, however. "We expect a steady acceleration in mine supply growth in the years ahead, which should overwhelm demand growth beyond 2014," it said in the report. "Nevertheless, we expect an extended period of high gold prices." --- read more

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