Wednesday, 21 November 2012
Blue Chip Stocks
Stocks of leading and nationally known companies that offer a record of continuous dividend payments and other strong investment qualities.
Board Lot
A standard trading unit as defined in UMIR (Universal Market Integrity Rules). The board lot size of a security onToronto Stock Exchange or TSX Venture Exchange depends on the trading price of the security, as follows:
*. Trading price per unit is less than $0.10 - board lot size is 1,000 units
*. Trading price per unit is$0.10 to $0.99 - board lot size is 500 units
*. Trading price per unit is$1.00 or more - board lot size is 100 units
*. Trading price per unit is less than $0.10 - board lot size is 1,000 units
*. Trading price per unit is$0.10 to $0.99 - board lot size is 500 units
*. Trading price per unit is$1.00 or more - board lot size is 100 units
Bonds
Promissory notes issued by a corporation or government to its lenders, usually with a specified amount of interest for a specified length of time.
Booked Orders
Orders that do not trade immediately upon entry. These orders are also known as outstanding orders.
Bought-Deal Underwriting
A type of underwriting where the brokerage firm acts as principal. The brokerage firm risks its own capital to purchase all of the securities to be issued. If the price of the securities decreases before the brokerage firm has had a chance to resell the securitiesto its clients, the firm absorbsthe loss
British Columbia International Commercial Arbitration Centre (BCICAC)
An arbitration centre established to resolve business disputes that have not been resolved through normal channels. As part of its services, the centre will accept claims up to $50,000 from clients of participating members of the Investment Dealers Association of Canada(Pacific Division) and TSX Venture Exchange.
More problems in Greece no agreement yet
BERLIN/ATHENS (Reuters) -International lenders failed for the second week to reacha deal to release emergency aid for Greece and will try again next Monday, but Germany signaled that major divisions remain.
Euro zone finance ministers, the International Monetary Fund and the European Central Bank were unable to agree in 12 hours of overnight talks in Brussels onhow to make the country's debt sustainable. They want a solution before paying the next urgently needed loan tranche to keep Greece afloat.
Several European officials played down the delay, saying the disagreements were technical and a deal would be reached when they meet again on November 26.
But German Finance MinisterWolfgang Schaeuble told lawmakers at a closed-door briefing in Berlin that the lenders were split over several key issues including how to define debt sustainability and fill a hole in Greek finances.
"He sees the extension of thedebt sustainability goal as one of the main bones of contention. The other is how to cover the Greek financing gap of 14 billion euros through 2014," said one lawmaker who attended Wednesday's meeting of Chancellor Angela Merkel 's centre-right Christian Democrats in parliament.
Merkel herself told the lawmakers the gap could be plugged by lowering interest rates on loans to Greece and increasing guarantees provided to the euro zone's temporary EFSF bailout fund, in which Germany would take its share, a participant said.
She suggested a deal could be struck as early as next week but rejected the notionthat big, bold actions could solve the debt crisis overnight.
"I believe there are chances,one doesn't know for sure, but there are chances to get a solution on Monday," Merkel told the Bundestag lower house of parliament during a debate.
Greece needs the next 31 billion euro aid tranche to keep servicing its debt and avoid bankruptcy. Its next major repayment is in mid-December.
Athens says it has carried outthe tough reforms required in the bailout program but needs more time to reach fiscal targets agreed with its lenders because its economyhas continued to shrink.
European governments wantto give Greece an extra two years, until 2022, to cut its debt to a sustainable level but the IMF does not agree. The Europeans, led by Germany, are refusing to write off any loans. Both options would make it easier for Greece to meet the targets in the bailout program.
French Finance Minister Pierre Moscovici said agreement was close, echoing overnight commentsfrom Eurogroup chairman Jean-Claude Juncker, who said talks were stuck on technicalities.
"We are a whisker away froma deal. I am very confident we will get there on Monday," Moscovici told Europe 1 radio.
Greece is increasingly frustrated about the repeated delays in releasing the aid and says it has done what is necessary.
"Greece did what it had committed it would do. Our partners, together with the IMF, also have to do what they have taken on to do," Prime Minister Antonis Samaras said in a statement.
"Any technical difficulties in finding a technical solution do not justify any negligenceor delays."
Samaras will meet Juncker inBrussels on Thursday and has cancelled a trip to Qatar next week to monitor the talks, a government spokesman said.
The prime minister is under growing pressure from his own coalition allies and the opposition after pushing through deeply unpopular austerity measures that he said were the only way to get more aid to avert bankruptcy.
"Τhe eurozone cannot use Greece as an alibi to justify itsweakness in dealing effectively and definitively with the crisis," said Evangelos Venizelos, head ofthe co-ruling PASOK party. Opposition leader Alexis Tsipras, whose party is rising in polls, said Samaras had lost all credibility.
Investors were disappointed with the news. Greek banking stocks fell nearly 6 percent in morning trade. Most of Greece's next aid instalment has been earmarked to shore up the country's tottering banks.
The euro, European shares and the prices of higher-yielding euro zone debt lost some ground but later recovered some of the losses.
Euro zone finance ministers, the International Monetary Fund and the European Central Bank were unable to agree in 12 hours of overnight talks in Brussels onhow to make the country's debt sustainable. They want a solution before paying the next urgently needed loan tranche to keep Greece afloat.
Several European officials played down the delay, saying the disagreements were technical and a deal would be reached when they meet again on November 26.
But German Finance MinisterWolfgang Schaeuble told lawmakers at a closed-door briefing in Berlin that the lenders were split over several key issues including how to define debt sustainability and fill a hole in Greek finances.
"He sees the extension of thedebt sustainability goal as one of the main bones of contention. The other is how to cover the Greek financing gap of 14 billion euros through 2014," said one lawmaker who attended Wednesday's meeting of Chancellor Angela Merkel 's centre-right Christian Democrats in parliament.
Merkel herself told the lawmakers the gap could be plugged by lowering interest rates on loans to Greece and increasing guarantees provided to the euro zone's temporary EFSF bailout fund, in which Germany would take its share, a participant said.
She suggested a deal could be struck as early as next week but rejected the notionthat big, bold actions could solve the debt crisis overnight.
"I believe there are chances,one doesn't know for sure, but there are chances to get a solution on Monday," Merkel told the Bundestag lower house of parliament during a debate.
Greece needs the next 31 billion euro aid tranche to keep servicing its debt and avoid bankruptcy. Its next major repayment is in mid-December.
Athens says it has carried outthe tough reforms required in the bailout program but needs more time to reach fiscal targets agreed with its lenders because its economyhas continued to shrink.
European governments wantto give Greece an extra two years, until 2022, to cut its debt to a sustainable level but the IMF does not agree. The Europeans, led by Germany, are refusing to write off any loans. Both options would make it easier for Greece to meet the targets in the bailout program.
French Finance Minister Pierre Moscovici said agreement was close, echoing overnight commentsfrom Eurogroup chairman Jean-Claude Juncker, who said talks were stuck on technicalities.
"We are a whisker away froma deal. I am very confident we will get there on Monday," Moscovici told Europe 1 radio.
Greece is increasingly frustrated about the repeated delays in releasing the aid and says it has done what is necessary.
"Greece did what it had committed it would do. Our partners, together with the IMF, also have to do what they have taken on to do," Prime Minister Antonis Samaras said in a statement.
"Any technical difficulties in finding a technical solution do not justify any negligenceor delays."
Samaras will meet Juncker inBrussels on Thursday and has cancelled a trip to Qatar next week to monitor the talks, a government spokesman said.
The prime minister is under growing pressure from his own coalition allies and the opposition after pushing through deeply unpopular austerity measures that he said were the only way to get more aid to avert bankruptcy.
"Τhe eurozone cannot use Greece as an alibi to justify itsweakness in dealing effectively and definitively with the crisis," said Evangelos Venizelos, head ofthe co-ruling PASOK party. Opposition leader Alexis Tsipras, whose party is rising in polls, said Samaras had lost all credibility.
Investors were disappointed with the news. Greek banking stocks fell nearly 6 percent in morning trade. Most of Greece's next aid instalment has been earmarked to shore up the country's tottering banks.
The euro, European shares and the prices of higher-yielding euro zone debt lost some ground but later recovered some of the losses.
Australia Internet job vacancies rise 2.5pc
JOB advertisements on the internet rose by 2.5 per cent in October, Federal Government figures show.
The Department of Education, Employment and Workplace Relations internet vacancy index rose to a seasonally adjusted 70.7 points in the month, although this is still 14.1 per cent lower from a year ago.
Vacancies increased in seven of the eight occupational groups monitored by the department.
The strongest monthly increase wasfor labourers, rising by 6.4 per cent, followed by a 5.5 percent rise in sales workers.
Technicians and trades workers were the only group to decline, easing by 0.2per cent.
Vacancies largely concentrated on the nation's two most populous states - NSW and Victoria - rising by 6.9 per centand 5.4 per cent respectively in October.
The biggest fall was in the ACT, dropping 8.4 per cent, with theterritory also posting the largest annual decline of 21.1 per cent.
The Department of Education, Employment and Workplace Relations internet vacancy index rose to a seasonally adjusted 70.7 points in the month, although this is still 14.1 per cent lower from a year ago.
Vacancies increased in seven of the eight occupational groups monitored by the department.
The strongest monthly increase wasfor labourers, rising by 6.4 per cent, followed by a 5.5 percent rise in sales workers.
Technicians and trades workers were the only group to decline, easing by 0.2per cent.
Vacancies largely concentrated on the nation's two most populous states - NSW and Victoria - rising by 6.9 per centand 5.4 per cent respectively in October.
The biggest fall was in the ACT, dropping 8.4 per cent, with theterritory also posting the largest annual decline of 21.1 per cent.
List of Banks in South Africa
Here's a listing of banking institutions in South Africa, from the monetary authorityto locally controlled banks and branches of foreign banks to banking-related organisations. Monetary authority
South African Reserve Bank
www.reservebank.co.za
Locally controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd - now a foreign controlled bank, seebelow www.absa.co.za
African Bank Ltd www.africanbank.co.za
BoE Private Clients (a division of Nedbank) www.boeprivateclients.co.za
Bidvest Bank Limited www.bidvest.co.za
Capitec Bank Ltd www.capitecbank.co.za
Fairbairn Private Bank (a division of Nedbank) www.fairbairnpb.com
FirstRand Bank Ltd www.firstrand.co.za
First National Bank (a division of FirstRand Bank) www.fnb.co.za
Imperial Bank Ltd (a subsidiary of the Nedbank Group) www.imperialbank.co.za
Investec Bank Ltd www.investec.com
Marriott Corporate Property Bank Ltd. (a subsidiary of Marriott Holdings Ltd.) www.marriott.co.za
MEEG Bank Ltd www.meegbank.co.za
Nedbank Group Ltd www.nedbankgroup.com
Nedbank (a division of the Nedbank Group) www.nedbankgroup.com
Old Mutual Bank (a divisionof Nedbank) www.oldmutual.co.za/ombank
Go Banking (a division of Nedbank in association withPick 'n Pay) www.gobanking.co.za
Rand Merchant Bank (a division of FirstRand Bank) www.rmb.co.za
Rennies Bank Ltd (now a division of Bidvest Bank) www.bidvest.co.za
RMB Private Bank (a division of FirstRand Bank) www.rmbprivatebank.co.za
Sasfin Bank Ltd www.sasfin.co.za
Standard Bank of SA Ltd, The www.standardbank.co.za
TEBA Bank Ltd www.tebabank.co.za
Wesbank (a division of FirstRand Bank) www.wesbank.co.za
Foreign controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd (a member of Barclays Bank Group) www.absa.co.za
Albaraka Bank Limited www.albaraka.co.za
Habib Overseas Bank Limited www.habibbank.com
HBZ Bank Limited (a subsidiary of Habib Bank) www.hbzbank.co.za
Mercantile Bank Limited www.mercantile.co.za
South African Bank of Athens Limited, The www.bankofathens.co.za
Branches of foreign banks
(registered in terms of the Banks Act)
ABN AMRO Bank N.V. www.abnamro.com
Bank of Baroda www.bankofbaroda.com
Bank of China, Johannesburg Branch www.bank-of-china.com
Bank of Taiwan, SA Branch www.bot.com.tw/english
Barclays Bank plc (now incorporated into Absa Bank) www.barclays.com
Calyon Corporate and Investment Bank SA www.calyon.com
China Construction Bank, Johannesburg Branch www.ccbjhb.com
Citibank N.A. www.citibank.co.za
Commerzbank Aktiengesellschaft www.commerzbank.com
Deutsche Bank AG www.db.com
HSBC Bank plc, Johannesburg Branch www.hsbc.com
JPMorgan Chase Bank, N.A.,Johannesburg Branch www.jpmorgan.com
Société Générale, Johannesburg Branch www.socgen.com
Standard Chartered Bank, Johannesburg Branch www.standardchartered.com
State Bank of India www.statebank.co.za
Mutual banks
(registered in terms of the Mutual Banks Act)
GBS Mutual Bank www.gbsbank.co.za
VBS Mutual Bank www.vbsmutualbank.co.za
Other banks
Development Bank of Southern Africa www.dbsa.org
Land and Agricultural Development Bank of SouthAfrica www.landbank.co.za
Postbank www.sapo.co.za
Savings and credit co-operatives (SACCOs)
See The Savings and Credit Cooperative League of SA (SACCOL) www.saccol.org.za
South African Reserve Bank
www.reservebank.co.za
Locally controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd - now a foreign controlled bank, seebelow www.absa.co.za
African Bank Ltd www.africanbank.co.za
BoE Private Clients (a division of Nedbank) www.boeprivateclients.co.za
Bidvest Bank Limited www.bidvest.co.za
Capitec Bank Ltd www.capitecbank.co.za
Fairbairn Private Bank (a division of Nedbank) www.fairbairnpb.com
FirstRand Bank Ltd www.firstrand.co.za
First National Bank (a division of FirstRand Bank) www.fnb.co.za
Imperial Bank Ltd (a subsidiary of the Nedbank Group) www.imperialbank.co.za
Investec Bank Ltd www.investec.com
Marriott Corporate Property Bank Ltd. (a subsidiary of Marriott Holdings Ltd.) www.marriott.co.za
MEEG Bank Ltd www.meegbank.co.za
Nedbank Group Ltd www.nedbankgroup.com
Nedbank (a division of the Nedbank Group) www.nedbankgroup.com
Old Mutual Bank (a divisionof Nedbank) www.oldmutual.co.za/ombank
Go Banking (a division of Nedbank in association withPick 'n Pay) www.gobanking.co.za
Rand Merchant Bank (a division of FirstRand Bank) www.rmb.co.za
Rennies Bank Ltd (now a division of Bidvest Bank) www.bidvest.co.za
RMB Private Bank (a division of FirstRand Bank) www.rmbprivatebank.co.za
Sasfin Bank Ltd www.sasfin.co.za
Standard Bank of SA Ltd, The www.standardbank.co.za
TEBA Bank Ltd www.tebabank.co.za
Wesbank (a division of FirstRand Bank) www.wesbank.co.za
Foreign controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd (a member of Barclays Bank Group) www.absa.co.za
Albaraka Bank Limited www.albaraka.co.za
Habib Overseas Bank Limited www.habibbank.com
HBZ Bank Limited (a subsidiary of Habib Bank) www.hbzbank.co.za
Mercantile Bank Limited www.mercantile.co.za
South African Bank of Athens Limited, The www.bankofathens.co.za
Branches of foreign banks
(registered in terms of the Banks Act)
ABN AMRO Bank N.V. www.abnamro.com
Bank of Baroda www.bankofbaroda.com
Bank of China, Johannesburg Branch www.bank-of-china.com
Bank of Taiwan, SA Branch www.bot.com.tw/english
Barclays Bank plc (now incorporated into Absa Bank) www.barclays.com
Calyon Corporate and Investment Bank SA www.calyon.com
China Construction Bank, Johannesburg Branch www.ccbjhb.com
Citibank N.A. www.citibank.co.za
Commerzbank Aktiengesellschaft www.commerzbank.com
Deutsche Bank AG www.db.com
HSBC Bank plc, Johannesburg Branch www.hsbc.com
JPMorgan Chase Bank, N.A.,Johannesburg Branch www.jpmorgan.com
Société Générale, Johannesburg Branch www.socgen.com
Standard Chartered Bank, Johannesburg Branch www.standardchartered.com
State Bank of India www.statebank.co.za
Mutual banks
(registered in terms of the Mutual Banks Act)
GBS Mutual Bank www.gbsbank.co.za
VBS Mutual Bank www.vbsmutualbank.co.za
Other banks
Development Bank of Southern Africa www.dbsa.org
Land and Agricultural Development Bank of SouthAfrica www.landbank.co.za
Postbank www.sapo.co.za
Savings and credit co-operatives (SACCOs)
See The Savings and Credit Cooperative League of SA (SACCOL) www.saccol.org.za
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