Saturday, 28 November 2009

State train makers under fire for poor standards

A senior rail official has criticised the quality and safety standards of the mainland’s growing fleet of high-speed trains, a serious blow for the country as it fast tracks construction of what will be the world’s largest high-speed train network.

Admiral says PLA’s strength, intentions should be displayed

Beijing should not be shy of displaying the full breadth of its growing military power and intentions to the world, a senior naval officer wrote in comments published yesterday.

Online fury at life of luxury in prisons

Mainland internet users are up in arms after pictures of a series of luxurious new prisons were posted online this week, a stark contrast to the shabbily built “tofu” schools that collapsed in last year’s Sichuan earthquake trapping more than 5,000 children.

China won’t pull plug on stimulus next year

China’s Politburo, the Communist Party’s top decision-making body, said the nation will maintain stimulus policies next year as the world’s third-biggest economy recovers from the global slump.

Corporate shakeup at emirate on the cards

Related companies could be sold, broken up or merged as Dubai struggles with its debt load

Abu Dhabi steps up as debt spoils Dubai’s model

Dubai’s debt troubles have exposed the fallacy of its once much-vaunted ‘model’ of raising shining cities in the desert with foreign residents, finance and labour.

Executive directors hit back; war of words at Sino-Environment escalates

Sino- Environment’s three executive directors (EDs) have hit back at the company’s independent directors as a war of words continues to escalate.

Friday, 27 November 2009

Debt default shadow on Dubai’s sand castle

Eckart Woertz, an economist with Dubai’s Gulf Research Centre, told the Financial Times: ‘This will destroy confidence in Dubai - the whole process has been so opaque and unfair to investors.’

Many are finding the news hard to swallow, particularly as senior Dubai officials had over the past few months taken steps to reassure investors that the emirate would still be able to meet all its existing debt obligations. Nakheel, for one, is due to pay back US$3.5 billion on a maturing Islamic bond on Dec 14.

Dubai debt delays revive fear of financial crisis

Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis.

Rumours swirl as top TV series blacked out

Authorities in Beijing have blacked out a daring TV series highlighting rising property prices on the mainland because of the sensitive issue and scripts, according to media reports.

Party chief vows to crack down but excessive measures will be avoided

Dongguan authorities have vowed to clamp down on prostitution, but said excessive measures and blanket closures would be avoided.

Wal-Mart price pressure hurts mainland workers

Wal-Mart Stores’ demand for rock-bottom prices from suppliers in the mainland means some of these companies are forcing their employees to work in sweatshop-like conditions, a new report said on Wednesday.

Crackdown fails to scare Dongguan’s sex-trade veterans

They work in hotels, saunas, massage parlours and karaoke bars; an army of 300,000 whose existence is unacknowledged, whose activities are illegal, and whose industry is irresistibly lucrative and impossible to wipe out.

New issue of Caijing reflects sombre mood in empty newsroom

The latest issue of Caijing magazine - the first since the departure of high-profile editor Hu Shuli, who founded the influential business publication 11 years ago - has appeared, with a sombre mood prevailing in the newsroom.

Saab nears end of the road with no bidders

General Motors Corp does not expect to find new bidders for Saab and may shut the bankrupt unit after Koenigsegg Group cancelled a planned acquisition, people familiar with the matter said.

Minsheng shares fall 3pc on debut

China Minsheng Banking Corp fell a disappointing 3 per cent in its Hong Kong debut on Thursday after raising US$3.9 billion in the world’s fifth largest IPO this year, underscoring how sentiment for mainland banks has soured recently.

Mainland stock bubble to burst next year, says Morgan Stanley

Mainland’s ballooning stock market bubble, fuelled by excessive liquidity, is likely to burst in the first half of next year, punctured by economic concerns arising from higher-than-expected inflation, Morgan Stanley Asia executive director Jerry Lou said on Thursday.

Dubai shocks with debt delay, units cut to junk status

Two major credit ratings agencies downgraded several Dubai government-related entities after the government overnight on Wednesday said it will ask creditors of two flagship firms for a delay on billions of dollars of debt.

Investors jailed in Hong Kong's largest market fraud case

Four investors found guilty in Hong Kong’s largest market-manipulation case were sentenced to 26-30 months in prison by a Hong Kong court on Thursday.

Wednesday, 25 November 2009

China Tightens Rules on Transfers to Stop ‘Hot Money’

China tightened rules on individuals transferring yuan and foreign exchange between bank accounts after speculation the nation’s currency will strengthen caused a surge in capital inflows.

Asset Bubbles Can Sink Millions Back Into Poverty – Zoellick

The post-crisis world economy faces new risks from investment bubbles that risk plunging millions back into poverty, according to World Bank chief Robert Zoellick.

Tuesday, 24 November 2009

Taiwan’s dwindling birth rate causes concern

Taiwan, with a population of 23 million, now has the dubious distinction of having the lowest birth rate in the world, according to the Population Reference Bureau, a think tank based in Washington DC.

Men's Dream?

想了, 约了, 定了, 见了, 抱了, 亲了, 摸了, 脱了, 舔了, 湿了, 硬了, 进了, 顶了, 叫了, 射了, 爽了, 抽了, 软了, 瘫了, 洗了, 擦了, 干了, 睡了, 又想了............

Monday, 23 November 2009

City expats receive security blanket

Foreigners and overseas Chinese who hold a Shanghai residence card and stay in a work contract with a Shanghai employer can now enjoy the city’s social security and benefits, just as their local counterparts do.

Taiwan concedes territorial waters near mainland

The Taiwan government said on Monday it was not claiming the territorial waters around two small islands that have long been part of its frontline defence against political rival China.

Global carmakers look to China for continued growth

Car makers from General Motors to Toyota Motor expect mainland to keep providing much-needed relief from feeble car sales elsewhere next year, even as local brands raise their game to grab a bigger slice of their home market.

HSI will break 30,000 mark, says BNP analyst

Hong Kong’s benchmark Hang Seng Index will break 30,000 points by next year, while property prices will rise 30-40 per cent in the next 18 months, BNP Paribas’ leading analyst for the region predicted on Monday.

China Should Stop Property Stimulus Now: Central Bank

China should immediately halt some of its real estate stimulus policies, or risk inflating a bubble that in its bursting would wreak financial and even social trouble, a central bank newspaper said on Monday.

Guangzhou high-speed rail debate gains pace

As China introduces its nationwide high-speed rail network, the debate about whether Hong Kong should foot the bill for an express line to link into the mainland’s rail grid in Guangzhou is heating up.

Airlines lose ground to high-speed trains

Mainland airlines are facing stiff competition from high-speed railways that are set to cover 80 per cent of the airlines’ current network by 2020 and offer passengers a cheaper and more reliable ride.

Sticking to large caps may be a safer bet

Formerly heavily traded penny stocks seem to have faded completely from the market

Morgan Stanley rules out multi-year bull runs

The bear market may be over, but Morgan Stanley does not see catalysts that could trigger a multi-year bull run.

Placement details food for thought

It wouldn’t be in the least bit surprising if the institutions which subscribed to China property developer Ying Li’s placement last week were less than happy with post-subscription events.

Chinese official wants to ban banquets

A Chinese legislator fed up with lavish banquets and official wining and dining has proposed making the ‘squandering of public funds’ a crime, state press said yesterday.

Sunday, 22 November 2009

Hong Kong implicated in US report on Chinese spying

A US congressional advisory panel has voiced concern about Hong Kong’s export controls, fearing the mainland could use the city to import sensitive technology.

Using high pay to ensure honest, clean govt won’t work

Is it possible to ensure an honest and clean government by paying high salaries? The Malaysian Anti-Corruption Commission (MACC) asserted that a number of elected representatives were involved in taking bribes and commissions as well as misappropriating funds because their salaries and allowances were inadequate to meet their needs.

Sino-Env slams sacked financial controller

The crisis at Sino-Environment has intensified with the management claiming that its sacked financial controller threatened the firm’s survival by diverting funds earmarked for bondholders to pay professional fees.

New home for Buddhist group after 10-year wait

Headquarters is up after delays caused by 1997 crisis, Sars and priority for school projects

Illegal to quiz witnesses beyond office hours, KL court rules

A Malaysian court yesterday said it was illegal for the anti-corruption agency to question witnesses beyond office hours, dealing a blow to the authorities’ insistence that this was within its right.

High Court dismisses Hengxin suit

The High Court yesterday dismissed cable-making firm Hengxin Technology’s lawsuits against former executive directors Jiang Wei and Qian Lirong, who was also its executive chairman and CEO.

Give us what our homes deserve

Signs of more assertive middle class as home owners prepared to take control of their estate

Drink-driving conviction quashed

In a significant ruling, the High Court has quashed the drink driving conviction of a motorist found sleeping in his parked car on an expressway shoulder - even though his breath alcohol level was above the legal limit.

Catch the buzz, fine-tune the theme park pricing

It is just a matter of months now until the grand opening of the Universal Studios theme park in Singapore, but that excitement was tempered somewhat when the much-awaited ticket prices were finally made public on Wednesday.

Asia Tiger takes controlling interest in Think Greenergy

Asia Tiger Group is taking a controlling interest in UK-based waste-to-energy specialist Think Greenergy Ltd (TGE).

Sino-Environment exec directors hit back at IDs

In what may be the start of a war of words, executive directors (EDs) at Sino-Environment Technology Group have hit back at the company’s independent directors (IDs), hurling accusations against them and its sacked financial controller.

Upgraders fuel demand in Qingdao

Market growing as rising affluence leading residents to look for bigger flats

Obama’s China trip shows power shifting

President Barack Obama’s first visit to China underscored a shifting balance of power: two giants moving closer to being equals.

Abundant land supply key to mainland property prices

The mainland’s property markets have become popular investment targets for investors from around the world and both developers and analysts warn that they should bear in mind that a plentiful supply of land in the country could have a bearing on the future price performance of property assets.

Six ways to get inspired

Staying inspired is a tough job for most people, if not all. Even entrepreneur may sometimes find it difficult to stay inspired because he may also be caught in the circumstances that are unfavourable. As such, knowing that life is getting tough and the tough get going. Therefore, he has to continuously find something to inspire himself.

Game for Chinese class?

Teachers use games, websites, films and pop music to get students interested

Chen’s son had key role

Information from the Swiss authorities indicates that the son of Taiwan’s convicted ex-president played a ‘leading role’ in laundering US$21 million (S$29 million), a newspaper reported on Sunday.

Who says HK and Singapore can’t co-operate?

Can rivals Hong Kong and Singapore work together rather than just face off over who deserves the title of Asia’s top financial centre?

Pitted against the big boys

Wenzhou’s coal barons tell Ren Wei that a corrupt, greedy and overbearing state is throttling their entrepreneurial zeal

Arrogance and fear drives currency policy

What drives China’s currency policy? Is it arrogance, fear or a mix of the two?

It pays to be a soldier in Tibet

Soldiers from Guangzhou newly assigned to Tibet will get a “special allowance” of up to 160,000 yuan (HK$182,000) for serving there.

There was just too much rain

Bukit Timah canal bursts its banks in intense storm