| Cash Now (CHNW) Begins Search For A Full Service Forex Broker ...
LAS VEGAS, NV, Feb. 8 /PRNewswire-FirstCall/ - Cash Now Corporation (CHNW.PK) www.cashnow.com (Cash Now) Cash Now is a public company engaged in the operation and licensing of a comprehensive suite of Internet based payday loan and check cashing software and private label back end office systems. Additionally, the Company is in the late developmental stage of offering an innovative Retail Forex trading platform through a previously announced Introducing Broker (IB) agreement with Advanced Markets, Inc. The company today announced that it has retained an agent to assist in locating a suitable full service broker dealer agency for acquisition, together with various posted listings of "businesses wanted" sections on various Internet based business directories. This will allow the Company to bring these important capabilities in-house and provide greater vertical integration to maximize revenue streams from this high growth opportunity.
Patni’s 2006 revenues up 28.5% at $578.9mn
Variations in Patnis Q2 2006 financial performance as a result of these reviews had been referred to as additional provisions in the said press release. Financial Performance for the year ended December 2006 excluding these additional provisions have also been considered for comparative performance review with 2005 in this release. Performance Highlights for the quarter and year ended December 31st 2006 Revenues for the quarter at US$ 154.3 million (Rs. 6,804.9 million) Up 1.7% sequentially as compared to US$ 151.7 million (Rs. 6,970.9 million) in Q3 CY2006 For the year revenues at US$ 578.9 million (Rs. 25,533.1 million), 28.5% higher compared to US$ 450.3 million (Rs 20,242.4 million) for the previous year Operating Income for the quarter at US$ 27.3 million (Rs.
Hedging Foreign Exchange Risks
The exchange rate of the Macedonian denar against the major hard currencies of the world has remained stable in the last few years. Because of the IMF restrictions, the local Narodna (Central) Bank does not print money and there are no physical denars in the economy and in the local banks.
Thus, even if people want to buy foreign exchange in the black market, or directly from the banks - they do not have the denars to do it with.
The total amount of Denars (M1, in professional financing lingo) in the economy is around 200,000,000 USD, according to official figures. This translates into 100 USD per capita. Thus, even if each and every citizen of Macedonia were to decide to convert ALL their Denars to Deutsch Marks - they would still be able to buy only 150 DM each, on average.
Brazilian Real Touches Highest Since May on Inflation Report
Feb. 6 (Bloomberg) -- Brazil's real rose, touching the highest level since May, after a private report showed slower- than-expected inflation, boosting speculation among traders that dollar flows to local assets will strengthen. An improvement yesterday in the country's debt outlook by Fitch Ratings also helped attract investors to local markets, traders said. The real may weaken later this week as the central bank steps up dollar purchases. ``Flows are very strong, and there is no way anyone will row against the tide when there are strong returns to be made in Brazil right now,'' said Paulo Fujisaki, foreign exchange analyst in Sao Paulo at Socopa Corretora. The real rose 0.4 percent to 2.0859 per dollar at 3:35 p.m. in New York, after most trading in Brazil had ended.
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