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Sudan's forex black market on hold

Black market currency traders in Sudan put their business on hold on Sunday to assess the impact of new government measures aimed at closing a wide gap between the official and unofficial forex rates.

From Monday, official foreign exchange bureaus will be allowed to buy and sell dollars based on the unofficial market rate rather than the official value of 2.7 Sudanese pounds for one dollar, said Abdelmoneim Nour al-Din, deputy general secretary of the forex dealers’ association.

He said his association would announce a daily price and start buying at 5.2 pounds per dollar, slightly off last week’s black market rate of 5.8 pounds to the dollar.

For the illegal black market traders who do business from street corners or cubbyhole offices, the new rules mean uncertainty.

“We’re gonna wait and see,” said one, who like many others had suspended operations.

“Today we stopped doing business. We will hold onto the foreign currency we have until the market stabilises” and the new rate becomes clearer, said another trader.

Bankrupt Sudan has lost billions of dollars in oil receipts since South Sudan gained independence last year, leaving Sudan plagued by soaring prices, a severe shortage of dollars needed to pay for imports, and a plunging currency.

The black market rate jumped above six pounds per dollar after South Sudan occupied the north’s main oil region of Heglig in April, during border fighting which raised fears of all-out war between Sudan and South Sudan.

The government has stuck to its fixed exchange rate of about 2.7 pounds for one US dollar, but the black market rate has been well above 4.0 since late last year.

Asked whether the new rules for forex bureaus amounted to a devaluation, one economist said the answer was unclear and he was still trying to figure out what had happened.

“This is really legalisation of the black market,” said another analyst, University of Khartoum economist Mohamed Eljack Ahmed. He added that the black market rate had essentially become the official rate.

He doubted the new rules will increase the amount of dollars in the economy or bring down the black market rate. Illegal traders would buy from the official dealers and hold their currency to sell at a profit.

At the same time, he said the measures will increase prices of imported goods, adding to the burden of Sudan’s poor already struggling with an inflation rate that jumped to 28.6 percent in April.

One black market trader said the illegal rate will fall only if the central bank can inject currency into the market. “If not, the rate will go higher and higher,” he predicted.

Local media reports last week said the government had received a large inflow of foreign cash which would help to strengthen the pound.

But if that were the case, the university economist asked, why had the government adopted the new rules for forex bureaus? Even if there had been an inflow of dollars from abroad, the government had not revealed the amount.

Article source: http://news.yahoo.com/sudans-forex-black-market-hold-113933395.html

Skocik Chiropractic Invites Patients to Interact via Facebook

HARRISBURG, Pa., May 20, 2012 (GLOBE NEWSWIRE) — Skocik Chiropractic is dedicated to educating their patient community both in and out of the office. Currently, they provide educational tools throughout their chiropractic website, and now they use their Facebook page as a forum to keep patients connected to their health. Visitors to the Facebook page can see an updated feed of current chiropractic news, links to informative articles, as well as instructive diagrams. To learn more about current affairs in health and the chiropractic lifestyle including information about acupressure, massage and tips to improve everyday wellness, Dr. Skocik says, “Visit our Facebook page to join our online community of interactive wellness!”

With so many websites available now to learn about health, most people want to visit one that they know they can trust. The greater Harrisburg community of patients now has a Facebook page which provides health education, which Skocik Chiropractic updates regularly. Harrisburg chiropractor Dr. Skocik strives to offer current news in health and wellness reflecting the greater integrative health community.

Through their Facebook page, Dr. Skocik spotlights articles, photos and research content that will act as an extension of the healing services he provides for patients. Many of the common health concerns that can affect all people at some point such as back pain and neck pain will all be highlighted on a regular basis for patients to learn more about.

“We wanted to provide another outlet for people to learn about maintaining their health as well as continuously provide resources for how to improve their everyday wellness. Facebook is such a popular discussion-based avenue, we thought creating a page for the practice was a logical step to keep connecting with our patients,” said Dr. Skocik.

Social media outlets such as Facebook have become essential tools for patients and health care providers in health care practices today. Because social media has become the norm for keeping people in touch and on top of current news, Dr. Skocik encourages his patients to interact online. Dr. Skocik says that patient comments and questions are important to generate valuable feedback that can help and inspire everyone in the practice’s social media community to learn from one another’s experiences. It also helps to provide accurate information for any misconceptions or lack of knowledge people might have about chiropractic care.

With over 23 years of experience treating patients with chiropractic care and alternative natural healing methods such as acupuncture, Dr. Skocik has been serving the Harrisburg community for postural health, relief from back pain and neck pain and whole-person wellness care.

For more information about the practice or to join their Facebook community, visit their website at http://harrisburgchirodc.com.

Article source: http://finance.yahoo.com/news/skocik-chiropractic-invites-patients-interact-150000920.html

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News Feed! Facebook's Mark Zuckerberg Marries Longtime Girlfriend Priscilla Chan

Mark Zuckerberg, Priscilla Chan Facebook

Status update: Facebook founder and CEO Mark Zuckerberg tied the knot with longtime girlfriend Priscilla Chan in an intimate wedding at his Palo Alto, Calif., home on Saturday.

RELATED: The Social Network: Where Are They Now? All the Stars (and Real People) From the Facebook Movie

The couple, who met at Harvard and have been going steady for more than nine years, took the plunge in front of an group of fewer than 100 family members and friends, according to People. The surprised guests reportedly thought they had gathered to celebrate Chan’s graduation from medical school at the University of California, San Francisco, on Monday. 

Zuckerberg made the marriage all the more official and public by, of course, changing his status on Facebook from “In a Relationship” to “Married.”

The union of the two lovebirds added another momentous event to the 28-year-old’s week, who on Friday made one of the most anticipated moves in finance history by taking his company public.

MORE: Rihanna, Eminem, Bono—Which Celebs Will Make the Most Money From Facebook’s IPO?

So what does a multi-billionaire give his college-sweetheart-turned-fiancée for a ring? A company spokeswoman said Zuckerberg designed the ring himself which featured “a very simple ruby.”

As for kids? The couple currently have one white fluffy one named Beast together.

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Article source: http://www.eonline.com/news/news_feed_facebooks_mark_zuckerberg/317667?cmpid=rss-000000-rssfeed-365-celebritynews&utm_source=eonline&utm_medium=rssfeeds&utm_campaign=rss_celebritynews

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