Wine producers pin hopes on mainland

Wine producers are pinning their hopes for growth during the financial crisis on a country that only recently entered the ranks of the world’s top ten wine drinking countries - China.

The top 30 highest paid politicians in the world

All came from one country - Singapore.

Read the comments for the entire list.

Yuan’s Reach Widens with Currency Swaps

Not only do currency swaps benefit trade relations between China and other countries, but they give the yuan more international clout.

Currency Swaps Cut Exchange Rate Risk

Call it a currency exchange or a currency swap, the concept is similar: Two market players exchange equivalent sums of capital at the beginning of a set time period and return the principal plus interest when the period ends. The goal is to leverage each party’s comparative advantage, diversify financing, reduce financing costs, control exchange rate risks and improve the financial structure.

CSRC Rejects Ningbo QL Electronics IPO Application

Ningbo QL Electronics Co. will return to investors the funds it raised in its initial public offering plus interest after securities regulator banned the company from listing.

Beijing Pre-owned Housing Surge May be Short-Lived

The surging sales of second hand houses may not sustain their surge if second-home buyers and investors do not enter the market.

Couple on Trial for Seditious Pamphlets

‘20,000 tracts mailed over 7 years’

Dorothy Chan Hien Leng said her colleagues and former colleagues who had received her tracts over the years were still her friends and encouraged her ‘to be brave and fight on’.

Fucking bitch, that's because those friends and colleagues of yours are christians. Try handling the tract to me and see what happens? You certainly won't get encouraging words from me. Go to hell bitch.

Clashes as Thai protesters trap PM at beach hotel

Anti-government protesters trapped Thai premier Abhisit Vejjajiva inside a beach hotel and attacked his motorcade on Tuesday as the kingdom’s political turmoil boiled over into violence.

Global IPO activity slows to just 50 IPOs worldwide in 1Q 2009

Global activity for initial public offerings (IPO) is continuing to slow, with just 50 IPOs worldwide in the first quarter of this year.

Factor time decay into trading strategies

Looking at the past three bear rallies (two in 2008 and one in 2007), the Dow Jones Industrial Index (DJIA) succumbed to weakness within one month when stochastics exhibited bearish divergence. If history repeats itself in this cycle, then the quintessential question we must ask is: How long is this bear rally going to last?

China slowly moving to globalise the yuan

A shift from US dollar to yuan as the world currency would have significant consequences

Wall Street rocket scientists crash to Earth

Mathematicians and physicists who devised the financial instruments and computer programs was credited for fuelling stock markets’ spectacular rise and now for its collapse.

Guangdong to help foreign firms

Guangdong will set up a co-ordinating group to assist foreign investors in resolving land problems after the province saw 271 foreign-invested companies shut down or relocate in the first two months of this year, affecting some 406,000 employees.

Brave new directions amid unanswered questions and ‘strategic ambiguities’

The central government’s health care reform blueprint has finally been released after three years of intense bickering between various interest groups, and the key question remains: will the mainland’s 1.3 billion people get to enjoy affordable and acceptable health care?

Why China can no longer lie low on the world stage

The one image the mainland media chose from last week’s Group of 20 summit had to sum up China’s growing international clout was President Hu Jintao standing at the centre of a group of the world’s most powerful leaders at the end of the meeting.

Mainland poor are left to count high cost of medical treatment

You can afford to be without anything except money and acquire anything except a disease, goes a well-known Chinese saying.

Beijing puts public before profit with health reform blueprint

Beijing has released the long-awaited blueprint on health care reform in an attempt to turn a profit-obsessed medical system into a public service.

Service, cost-cutting key to health reform

Funding boost, hospital charges phase-out, staff motivation are plan’s 3 main planks

Fed’s Effort To Roll Snowball Uphill Is Failing

Bernanke thinks he can manipulate treasury yields by purchasing long dated treasuries. He can’t. The market is simply too big. Please consider Treasurys slide after Fed purchases.

MSCI China May Rise 15% by End-2009, JPMorgan Says

The MSCI China Index may rise 15 percent by the end of the year as growth in the world’s third- biggest economy recovers, according to JPMorgan Chase & Co.

Stocks May See ‘Correction’ of 10%, Marc Faber Says

Global stocks may drop as much as 10 percent in a “correction” following gains in the last four weeks, before rebounding after July, investor Marc Faber said.

STI Technical Analysis by Ajith

The FSSTI’s rally had exceeded prior expectations. Still, the attached chart shows that the index is in a sideway range movement and it is premature to speak of the index forming a new uptrend or even bottoming out.

The index appears to be tracing out in a 5 wave sequence from March low of 1455. Wave 1 terminated at 1779, the rebound to yesterday’s high at 1859 is seen as wave 3. The current pullback is a wave 4 move which should not fall below the prior wave 1 peak of 1779. In fact, we believe that immediate downside should be limited to about 1800. Thereafter this should be followed by a final wave 5 move past 1879 towards 1920. There is a clear fibonacci link between wave 3 and wave 1 as wave 3 approximates 0.62x of wave 1 ( 0.62x ( 1779-1456) + 1658= 1858).

Hong Kong’s HSI also shows a similar wave pattern and fibonacci link.

Bottom line: There is scope for one more leg up if the index rebounds off 1800 and rises above 1830. Any rebound from these levels should be used as an opportunity to exit longs.

Michael Jordan is in the Hall of Fame

In a forgone conclusion, Michael Jordan in his first year of eligibility, has been selected to the Basketball Hall of Fame

US Recovery Is Far Off, Banks Are ‘Basically Insolvent’: Soros

The U.S. economy is in for a “lasting slowdown” and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday.

Where Are Stocks Going Now? Four Things You Should Know

“The recovery, when it does happen, will be more like a ‘V’ than a ‘U’ because there’s so much money on the sidelines,” Carver says. “When we saw last month is not a sustainable thing. We’ll to up and down probably into late summer.”

Vanke expects sales rebound as market recovers

China Vanke, the country’s biggest listed property developer, hopes to increase its sales volumes this year by about 10 per cent as the housing market pulls out of a deep slump.

Sportswear maker Xtep steps up its game

Terry Ho (left) and Ding Shuipo see further expansion for sportswear maker Xtep International Holdings ahead, but warn it will not be as much or as rapid as last year.

Cashing in big on yuan trade

A trial allowing cross-border traders to settle transactions in renminbi will be a welcome, and eventually lucrative, business stabiliser

Fixing the faults with foreign listings

China stocks listed here, or S-chips as they are popularly known, have come under unwelcome scrutiny in recent months following revelations of accounting irregularities, doubts over whether some can continue as going concerns (as expressed by their external auditors) and, in some cases, outright fraud.

Strong fundamentals a good analyst maketh

Love brought CLSA analyst Caroline Maes to Singapore - and that call hasn’t turned out badly at all. Ms. Maes, an American, worked in New York for three years as an associate in a buy-side firm but moved here in early 2006 to join her Singaporean boyfriend. She now covers offshore and marine stocks.

Diligence, consistency & thick skin

CLSA’s Thilan Wickramasinghe tells CHEW XIANG there’s nothing special in his method - just a deep understanding of industries, companies and their financials

Some get it spot on even in a volatile year

This year’s rankings show independent research houses may be a better model

Sentosa dream gets hazy

Fewer than 1,000 homes at Sentosa Cove are likely to be completed by end of 2009; several developers are delaying their projects further

Google and Music Labels Bet on Downloads in China

Can global music companies make money by giving away songs in China, where piracy is rampant?

Current run-up still looks and smells like bear rally

Historical comparisons with 1929 may not mean that the market strength in the past two weeks is just another bear rally. But it does highlight that until the pressing structural problems in the global financial system are ironed out, each market run-up will still look and smell like a bear rally.

Chinese flip new page in push to be superpower

Mr. Song Hongbing's Currency Wars is reportedly read by senior levels of government and business in China but Beijing seems to be treating the recent nationalist works more warily. Books like China is Unhappy have been slammed by academics for being "extreme".

Seven things about American youth

They have an opinion on everything. In most classes, there would be a comment made, an opinion voiced and a rebuttal given. I would sit in rapt attention and awe, desperately trying to think deep thoughts. I blushed at my inability to keep up with my classmates. It took a while for me to realise that their opinions might not have any intellectual depth at all. It was just important to be heard.

Badminton hall reborn as F&B, leisure hub

Revamped centre opens next month; fans dismayed at loss of slice of history

Shanghai A-share Index 2,539 by UOBKH

Shanghai A-share Index: 2,539

When the Shanghai A-Index closed at 2,378, we had suggested the index would have a breakout from the 200-day moving average and a follow through to 2,523. Last Friday, the index did end up at 2,539 after penetrating the previous high of 2,523.

Nonetheless, the presence of the negative divergence of MACD on the chart below means that upward momentum may slow down.

In other words, the odds are increasing that the index may see a pullback. Unless the pullback breaches the newfound support at 2,353, the index would likely resume the momentum to head towards the congestion zone near 2,860.

Straits Times Index Analysis - DBSV

Temporary pause near 23.6% upward retracement level at 1860 to 1880 possible. Pullback to 1717 to 1737 should be viewed as a buying opportunity

Our view for STI 2140 remains intact. While we do not rule out a temporary pause near the 23.6% upward retracement level at 1860 to 1880, a pullback to 1717 to 1737 should be viewed as another buying opportunity. We maintain buying into early cyclical plays i.e. basic resource, financial, property and technology stocks. We are also positive on O&M stocks as a beta/recovery play. While financial and property stocks are expected to lead the STI higher to 2140 post the anticipated minor pullback, we also believe that laggard index stocks (e.g. SPH) and small caps should begin to steal the limelight as investors’ participation rate increases in the weeks ahead.

Foreign mates sliding off the marriage radar

The global crisis has eroded western men’s allure on the mainland

Corporate bonds may be the right medicine for investors

Offer of high interest reflects new promise in sector

How to tell if your financial adviser is a Warren Buffet or Bernie Madoff clone

So, how should you cope with financial advice and financial advisers? The first answer to this question is that you need to recognise that the job you think the adviser is doing and the job he is actually doing are two different things.

The lawyers: 21/2-year bonanza of billable hours

The team from Harry Elias law firm which represented the winning minority owners: (From left) Lawyer Kylie Peh, partner Philip Fong, Senior Counsel K.S. Rajah and partner Justin Chia

More listed companies come under auditors’ focus

Auditors have raised concerns over more listed companies, with the latest focus falling on firms such as Firstlink Investments Corporation, KXD Digital Entertainment and ASA Group.

Firms weigh cost, convenience for AGMs

But not all shareholders appreciate the cost-cutting efforts.

MAS issues new fair dealing rules for FIs

Financial institutions have to relook commission-based model, freebies strategies under guidelines

Fund manager may inject US$15m into Oceanus

Marine aquaculture specialist Oceanus Group has announced a proposed loan investment of between US$12 million and US$15 million in the group by a fund manager.

Bear market rally or the real McCoy?

Wall Street may be saying something when yesterday’s 8.5% jobless number doesn’t seem to faze it

Coming back for more vroom

Drawn by the allure, very high-end sports cars are seeing repeat buyers in Singapore

Risks and S-chips on SGX’s mind

It says it’s acutely aware of risks presented by companies operating in foreign countries

The moralist manifesto

Finance is not usually associated with questions of good and evil. The last few months have been something of an exception, at least for some politicians. It has become fashionable to blame greedy bankers for the ongoing financial crisis. But that is little more than name-calling. The best way to ward off future crises is through serious analysis of financial morality. A well-reasoned attack on greed requires some profound changes. Here are seven.

有没有人告诉你 - 陈楚生

当火车开入这座陌生的城市
那是从来就没有见过的霓虹
我打开离别时你送我的信件
忽然感到无比的思念
看不见雪的冬天不夜的城市
我听见有人欢呼有人在哭泣
早习惯穿梭充满诱惑的黑夜
但却无法忘记你的脸
有没有人曾告诉你我很爱你
有没有人曾在你日记里哭泣
有没有人曾告诉你我很在意
在意这座城市的距离
看不见雪的冬天不夜的城市
我听见有人欢呼有人在哭泣
早习惯穿梭充满诱惑的黑夜
但却无法忘记你的脸
有没有人曾告诉你我很爱你
有没有人曾在你日记里哭泣
有没有人曾告诉你我很在意
在意这座城市的距离
有没有人曾告诉你我很爱你
有没有人曾在你日记里哭泣
有没有人曾告诉你我很在意
在意这座城市的距离
Click here, and then on the song title to listen

Korean slowdown a boon for plastic surgeons, malls

Falling won lures Japanese and Chinese tourists to Seoul

SGX urges investors to be vigilant

More auditors raising red flags about listed firms in midst of crisis

Grey list

Singapore is on it, but is committed to tax rules

China looking stronger after G-20 summit

China came away from Thursday’s G-20 meeting looking ‘pretty good,’ said experts.

‘Red shirts’ plan massive protest

Pro-Thaksin movement aims for 100,000-plus turnout on Wednesday

G-20 deal ‘a turning point’ but not all convinced

Obama and Soros hail plan but others say actions fall ‘critically short’ in key areas

Fear of being left out replaces fear of loss

Investors appear to have missed the absurd logic behind the view that once credit starts to flow again all will be well

Eight high-tech exam cheats jailed

Chinese parents and teachers in elaborate scams convicted of stealing state secrets

At G20, China finds way to raise stature in world finance

But in that scant time, China had a chance to showcase its growing importance in the world economy. China said it would contribute 40 billion U.S. dollars to the International Monetary Fund’s (IMF) increased financing capacity. That’s only a small portion of the total, but it could take China’s IMF voting rights from to 3.997 percent from 3.807 percent.

Cultural celebrations walk thin line between myth and greed

“Public ceremonies should be organised by the public and the costs covered voluntarily by participants, not by government funds,” Mr. Ge said. “Otherwise, it will damage the interests of those who don’t want to take part.”

An ex-hacker’s thoughts on the Dalai Lama and democracy

“In our world, democracy is something that powerful nations impose on the weak. Equality, law and democracy do not exist between them. Does the US deal with Yugoslavia and Iraq in a democratic way?

The dollar trap

China’s call for a magic solution to its excess US-dollar assets suggests it isn’t ready for new global realities.

And that failure to face up to new realities is the main reason that, despite glimmers of good news - the G20 summit achieved more than I thought it would - this crisis probably still has years to run.

Keeping companies up to standard

The findings of the recently released GTI show that many firms still have much work to do.

Focus on ethics for a more honourable corporate world

The recent spate of corporate and accounting scandals here has thrown up widespread debate over what more can be done to rein in companies and those who run them.

Financial reporting should go beyond minimum: CPA

Go beyond the financial reporting rulebook and give shareholders the extra information they find useful, urged Chaly Mah, president of CPA Australia’s Singapore division.

Auditors going the extra mile, says Deloitte chief

Recent cases of corporate fraud have triggered the age-old question about the role of auditors and whether the scope of their work includes the onerous responsibility of detecting and deterring fraud.

Low rankings for troubled S-chips

Troubled Chinese companies have found themselves among the lowest ranked in the Governance & Transparency Index (GTI) released yesterday.

No opinion on Guangzhao accounts, say auditors

The auditors of Guangzhao Industrial Forest Biotechnology Group have steered clear of expressing an opinion on the group’s 2008 financial statements, citing a host of material uncertainties which could cast serious doubts on its going-concern status.

China Vies to Be World’s Leader in Electric Cars

Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years, and making it the world leader in electric cars and buses after that.

Banks Face Big Losses From Bets on Chinese Realty

Back in the good old days - early 2007 - bankers from Merrill Lynch, Deutsche Bank and other financial giants placed their bets on a 48-year-old property tycoon who was supposed to be China’s next billionaire.

They lent his company $400 million, encouraged him to acquire large tracts of land and in early 2008 promoted a proposed $2.1 billion public stock offering by the company, the Evergrande Real Estate Group, in Hong Kong.

Court quashes en bloc sale of Horizon Towers

Landmark ruling also redefines roles of sales committees, Strata Titles Board

Coke ads ‘totally unacceptable’ in Australia

“Coke’s messages were totally unacceptable, creating an impression which is likely to mislead that Coca-Cola cannot contribute to weight gain, obesity and tooth decay,” it said.

Love deeply and passionately

You might get hurt but it's the only way to live life completely.

China’s housing prices may “fall sharply”

Property prices in the country are likely to see a “sharp drop” next year, when a number of low-income housing projects come up, a local newspaper reported yesterday.

HK sees first jail term for insider trade

Former banker, girlfriend sentenced

Durian lawsuit bears fruit of HK$193,000

It could be the most expensive durian in history.

Hu and Sarkozy set to meet to seal resumption of ties

France pledges not to support Tibet independence bid

Countdown begins for second board

Regulator unveils listing rules for Shenzhen bourse

Actions Speak Louder Than Words

To gain a bigger voice in the global economy, China must build ups its domestic economy.

Optimal Response to the Fed Printing Dollars

The U.S. government is trying to do what’s best for its economy. China must do the same. Wishful thinking, hoping the U.S. to do what’s best for China, is daydreaming. It is not about what’s fair. In a modern world everyone must optimize for itself.

‘No’ to Protectionism Easier Said than Done

Dozens of new, sometimes hidden, trade barriers threaten anti-protectionist sentiment as well as efforts to end the financial crisis.

More China checks on S-chips - timely idea with many challenges

Lawyers, market watchers discuss various possibilities of tighter controls

China’s Markets to See Huge Liquidity in Second Quarter

China’s capital markets will be awash with liquidity in the second quarter as excess money could reach 1 trillion yuan ($146 billion), excluding the central bank’s open market operations, an official newspaper said on Wednesday.

Suspicious deaths of inmates spur crackdown on prison conditions

Law enforcement authorities will crack down on conditions in detention centres and prisons across the mainland starting today, vowing that there will be no more suspicious deaths of inmates.

Number of wealthier investors growing as income gap widens

By the end of this year there will be more than 320,000 investors on the mainland with more than 10 million yuan (HK$11.35 million) of capital to speculate with, a report produced by the China Merchant Bank and global business consulting firm Bain & Company predicts.

China IPO rule for small firms to help boost growth

China is planning to make it easier for small and medium-sized companies to go public, setting up a new trading platform with looser listing rules, and also winning praise from investors and analysts.

CJ lifts jail term on drink driver

CJ Chan also noted that defendants do plead guilty ‘especially for minor offences of which they may not be guilty for a variety of reasons’.

He said that if Chong’s story raised ‘a question of reasonable doubt, then he ought to be entitled to that doubt’.

Fucking VK Rajah didn't give me the doubt I was entitled!

Catalist guide on engagement of sponsors

When does a Catalist-listed company need to engage a sponsor for its corporate actions or transactions?

An easy way to understand the AIG debacle

Jim = Goldman
Bob = AIG
Sue = US taxpayer