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The moment I heard my first love story…

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I started looking for you.

Not knowing.

How blind that was.

Lovers don’t finally meet somewhere.

They are in each other all along.

~Rumi

Written by Magda M Ali

January 5, 2012 at 12:05 pm

Posted in Uncategorized

I am the moon, and the Sun is my guide

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Liberated from suffering and search.

I have tied myself to the skirt of God.

If I fly, I look at the summits I ascend.

If I go around in circles, I observe the axis on which I revolve.

If I am dragged by a burden,I know where I go.

For I am the moon, and the Sun is my guide.

~ Rumi

Written by Magda M Ali

December 7, 2011 at 10:24 am

Posted in Uncategorized

ruin or support?

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“Water in the boat is the ruin of the boat. but water under the boat is its support.”

~Rumi

Written by Magda M Ali

November 18, 2011 at 3:45 pm

Posted in Uncategorized

Elastic share price at GoIndustry

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GoIndustry-DoveBid, the industrial equipment and machinery auctioneer, said it did not know why its share price rose 40 per cent on Thursday, only to fall back 30 per cent on Friday.

The company issued a trading statement in response to its share price nearly doubling over the past two weeks on the back of takeover rumours.

GoIndustry-DoveBid confirmed that it is considering placing at a new equity at a “considerable” discount’ to its closing price on Thursday.

Jack Reinelt, chief executive, told the Financial Times: “We do not know of any legitimate reasons for the price change.”

The group has been reviewing the company’s funding needs and is exploring various possibilities to strengthen the balance sheet.

Mr Reinelt added that the group predicted a positive second quarter. “A lot of restructuring and a fair amount of cost cutting has reset the fixed cost base,” the group has cut £6m ($10m) of annual costs during the first quarter of 2009.

GoIndustry, which bought its US rival DoveBid last year, had been hit with a pre-tax loss of £28.9m last year.

While Mr Reinelt predicted that the “extremely difficult trading conditions continued through the first two months of 2009”, he said the group expected another loss as trading conditions of 2008 will offset the success of the second quarter of 2009.

GoIndustry-DoveBid shares fell ¾p to 1.88p.

Written by Magda M Ali

January 21, 2010 at 11:51 pm

Posted in Uncategorized

Demand for housing continues to rise

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The housing market has entered the summer months in a far stronger position than 12 months ago, according to a new report by the National Association of Estate Agents Housing Market (NAEA).

The research shows an increase in the number of house hunters in the market. The number of house hunters registered with estate agents increased from 192 in July 2008 to 292 in July this year.

After dipping slightly in June the number of people searching for property rose again in July. The past three months as a whole represent the largest three-month demand in property since September-November 2007 and could represent the fact that people believe lower house prices can deliver a bargain but also that they consider the market to have bottomed out.

“Prices are gently on the rise as demand outstrips supply especially in the first time buyer end of the market,” says Martyn Gerrard, chairman of the London NAEA branch. “Building society surveyors have appreciated the situation and are no longer down valuing for mortgage purposes although the increased demand for funding has meant that the time taken from application to offer is often several weeks.”

NAEA say that relative to last year’s low, this year’s figures may still be taken as a positive indicator and further evidence that the market is moving towards recovery.

“July has seen recovery in the housing market continue, but it is still a very sensitive recovery,” says Ricardo Copus, chairman of Devon NAEA branch. “Assuming no national or international disasters occurring before the end of the year, the percentage of transactions should continue to increase slowly.

As seasonal activity picks up after the summer holidays and buyers make their way through the system, NAEA predict that the number of properties available for sale will increase.

“We certainly have a “feel good” factor at the moment and any time you year estate agents whingeing about “lack of stock” the market must be good,” says Des Rowson, chairman of the Essex NAEA branch. “The shortage of properties coming on the market means prices are beginning to edge upwards in most areas.”

Published in the Financial Times

Written by Magda M Ali

December 17, 2009 at 9:14 pm

Half of all mortgages now charge a percentage fee

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The number of mortage lenders imposing a percentage fee on their fixed rate products has increased from 43 per cent to 49 per cent, according to new research from MoneyExpert.com.

The research found that for people with large home loans, fees may run into thousands of pounds, particularly as only 4 per cent of products that charge a percentage fee impose a cap of the maximum fee.

The research revealed that percentage fees vary from as much as 2.5 per cent of the mortgage loan to as little as 0.4 per cent. The average percentage fee comes in at 0.89 per cent and on a typical home loan of £150,000 this equates to a fee of £1,335.

“Fees are often linked to loan to value ratios and anyone without a significant amount of equity in their house can expect to pay a hefty fee,” said Pierre Williams, head of research at MoneyExpert.com.

“Borrowers looking for a mortgage focus on rate, but fee has to be a consideration particularly when these can run into thousands of pounds. All too often we forget about the fee by rolling it straight into the loan.”

The research further revealed that, though the number of fixed rate mortgages charging a set fee has decreased as percentage of the market from 57 per cent to 51 per cent. The highest charge on the market has increased significantly, from £1,999 last year to 2,499 today.

The total number of products charging a set fee has increased from 405 to 472 as the market has expanded. The increase consists largely of the introduction of new tiers of fees by the banks. Last year for example there was only one mortgage charging a fee of between £100 and £200 but today this figure has increased to 49. Similarly, a year ago there were 17 products charging between £700 and £800 but today there are 61 products.

Average fees have actually decreased slightly from £860 a year ago to £790, largely due to the introduction of a large number of mortgages charging a small set fee rather than a percentage fee.

Mainstream lenders currently offering fixed rate mortgages with a fee of less than £300 currently include Royal Bank of Scotland and NatWest, on products to existing customers, while regional building societies such as Skipton also offer competitive deals.

“Borrowers need to make a calculation as to whether they opt for a fixed or percentage fee but with the introduction of large numbers of low fee mortgages this year borrowers do have options when it comes to choosing a mortgage,” added Williams.

Written by Magda M Ali

July 21, 2009 at 11:42 pm

Posted in Uncategorized