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LIC to soon provide health cover
Chennai, Oct 25 (IANS) Life Insurance Corp of India (LIC) will soon cross swords with domestic non-life insurers by launching a health insurance policy. T.S. Vijayan, chairman, LIC, said the corporation would launch the product by this yearend. He was speaking to reporters here Thursday at the launch of a critical illness rider for group insurance policies. He said LIC has filed the health cover product with the Insurance Regulatory and Development Authority (IRDA) and expects a green signal anytime now. 'We don't have any plans to have a separate health insurance subsidiary,' Vijayan added. LIC is also finalising its credit card business venture with GE Money. 'We are in the process of setting up the company,' affirmed Vijayan. However, he did not see any value in LIC floating a bank in order to be present in the entire financial services spectrum.
(AFX UK Focus) 2007-11-19 10:25 GMT: TFN NEWS BRIEFING: Macroeconomics highlights to 10:10 GMT
2007-11-19 10:09:08 Deutsche Bank CEO says financial mkt tension has increased again significantly LONDON (Thomson Financial) - Deutsche Bank AG CEO Josef Ackermann said "nervousness" in the financial market has increased again "significantly" lately due to recent announcements by some US banks on US subprime writedowns and uncertainties over potential losses in other financial institutions which have yet to disclose their figures. 2007-11-19 10:00:06 US govt to loan 250 mln usd to 3 investment funds aimed at Africa ACCRA, Ghana (Thomson Financial) - The US government will loan up to 250 mln usd to a trio of privately held investment funds that will seek to use the loan in Africa as seed money to build funds capitalized at three times the initial investment, a top US government aid agency official said.
Trollers want disaster declared
CHARLESTON — Disaster checks for 2006 are barely in the bank and local salmon trollers already are asking that the 2007 season also be declared a failure."It turned out costing the fleet more money to have a season with no fish than no season with fish," commercial fisherman Rick Goche said Thursday.Fishermen were shocked when the season opened in April. Many were expecting their lines would be vibrating with fish after not being able to fish in 2006.But were they ever in for a shock.Catches were sporadic.The fish were relatively small.The catches, even smaller."Nobody could believe there were no fish," Goche said.The situation was so unbelievable that fishermen didn’t give up. It’s not uncommon to find only few fish in April, but later in the summer and fall, nothing changed.They set to sea again and again, only to be disappointed."Everybody who went early on in the season were losing money," Goche said, "with very few exceptions."Goche lives in Coquille and fishes the Peso II out of Charleston.
Every School Every Thursday -- Des Moines West
Nothing submitted. Greenwood Students celebrated Red Ribbon Week to encourage people to take a stand against alcohol, tobacco and illegal drugs. The theme was "Don't Monkey Around with Drugs." Students decorated placemats with the theme and the placemats were distributed to local restaurants. Dahl's Foods contributed grocery bags, which students decorated with the drug-free theme. The bags were returned to Dahl's and will be distributed to customers of the store. The student council planned many activities including Red Day for "Drugs Make Me Red with Anger," Crazy Socks Day for "Sock it to Drugs," Sweats Day for "Living Drug-Free is No Sweat," and Boots Day for "Boot Out Drugs!" Kindergarten classes are focusing on shapes. They have mastered the basics (circle, square, triangle and rectangle) and are moving on to hexagon, trapezoid, rhombus and diamond.
(AFX UK Focus) 2007-11-20 00:06 GMT: Forex - US dollar weaker in Sydney trade on credit concerns, weak housing market
SYDNEY (Thomson Financial) - The US dollar was weaker against the euro, yen and sterling in midmorning trade in Sydney on Tuesday after a mixed performance overnight, as more bad news about the banking sector and housing market triggered a stampede to safe havens. Investors unwound yen-funded carry trades after US markets slumped in response to Goldman Sachs' decision to slap a "sell" recommendation on Citigroup. Goldman Sachs estimates Citigroup will have to write down 15 billion US dollars in coming quarters due to its exposure to risky loans. Additionally, the National Association of Homebuilders' November housing forecast remained at a record low and Goldman Sachs downgraded home-improvement retailer Lowe's to "neutral" from "buy" on concerns about the deteriorating housing market.
Accor set to class Sofitel as 'luxury'
WITH brands such as Louis Vuitton, Cartier and Hermes, France is a world leader in exporting notions of luxury to the rest of the world. In the upmarket hotel sector, however, the international pace is set by American and Asian chains. It is an anomaly that has caught the attention of Gilles Pelisson, chief executive of Accor. Best known as the operator of cheap and mid-range hotels such as Ibis, Mercure and Novotel, the French group hopes to emulate France's handbag and jewellery makers by colonising the top end of the market. With this goal in mind, it plans to try to give its Sofitel business - which currently ranks as predominantly "upmarket" - a nudge upwards into the "luxury" bracket, where it would compete more forcefully with the likes of Intercontinental, Westin, Park Hyatt and St Regis.
IBD's Top 10 - Monday
Most Indexes Make Fresh Lows 1 A dour outlook on Citigroup (NYSE:C - News) and real estate sparked a broad sell-off. The NYSE composite plunged 2.1%; the S&P 500, Dow and Nasdaq lost 1.7%. All but the Nasdaq undercut their Nov. 12 lows. Volume fell across the board. Some consumer-related, building and transportation groups led the decline. The 10-year Treasury yield sank 11 ticks to 4.06%, a 2-year low. .
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