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The monetary analysis confirms the prevailing upside risks to price stability at medium to longer-term horizons. The strength of both money and credit growth in recent months -with the annual growth rates of M3 and MFI loans to the private sector both at more than 11% in September -may have been influenced by a number of temporary or special factors, such as the flattening of the yield curve and the recent financial market volatility. However, even taking into account these special factors, the underlying rate of money and credit expansion remains strong. Monetary developments therefore continue to require very careful monitoring so as to detect underlying trends on the one hand and to better understand shorter-term dynamics on the other. This monitoring will provide a more complete picture of the response of the private sector to the increased volatility in financial markets.
15-11-2007: Shell, Citibank target 100,000 new card holders in 12 months
KUALA LUMPUR: The new Shell Citibank credit card, a partnership between Citibank Bhd and Shell Malaysia Trading Sdn Bhd that offers the highest rebate for fuel and other daily purchases, is expected to draw 100,000 new customers over the next 12 months. Citibank's country business manager Michellina Triwardhany said the new credit card gave rebates of up to 5% on fuel purchases at Shell stations nationwide and up to 1.5% for all other purchases, including household expenses. The rebates are not only restricted to fuel purchases at Shell's 900 outlets but consumers can also earn rebates at all 117,000 Visa outlets in Malaysia and 27 million outlets worldwide. “Our target is to have 100,000 new cards for the next one year. For us, it is providing value, loyalty to our clients and Shell has obviously become one of the powerful partnerships," she told reporters here yesterday after launching the new credit card.
Mortgage Company to sponsor home buyer's seminar Tuesday
The Mortgage Company is sponsoring a home buyer's seminar. People who are currently in the process of buying a home, starting to look for a home or even thinking about purchasing a home are encouraged to attend.The event is scheduled from 7 p.m. to 8:30 p.m. Tuesday at the Best Western Convention Center. Information regarding mortgage revenue bond loans, rural development loans, FHA loans, conventional loans and first-time home buyers loans with a 15 to 20 percent down-payment subsidy will be provided.The presenters include: Michael Boughfman, the McPherson branch loan officer, and owners of The Mortgage Company, Randy Graham and Larry Curran.Information regarding loan program requirements and guidelines, tips for making the financing process go more smoothly and answers to questions will be presented.
Post-age paid
Kraft Foods Inc. is selling its Post cereal unit, with its Raisin Bran, Grape Nuts and Fruity Pebbles, to private-label producer Ralcorp Holdings Inc. for about $1.6 billion and debt. The all-stock, tax-free deal is worth about $2.6 billion to Kraft and its shareholders, the Northfield-based food company said Thursday. Kraft will first split off or spin off Post and related assets to its shareholders, then the Post business would be combined with Ralcorp. Kraft shareholders would own about 54 percent of the combined company. The deal was expected, sponsored by super-investor Nelson Peltz. If approved, it would give Kraft an out of the slow-growth cereal business and provide Ralcorp a group of brands on which to build. "They are better suited to dedicate resources to this business than would have been possible under Kraft," said Chris Baldwin, vice president of Kraft's snacks and cereals group.
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