Thursday, 11 February 2010
Posed this question yesterday, Deputy Prime Minister and Home Affairs Minister Wong Kan Seng said: ‘It is a very serious matter if anyone were to be hauled up and investigated by ISD.
The pastor who was called up by the Internal Security Department (ISD) for making insensitive remarks against the Buddhist and Taoist faiths has apologised personally to the leaders of the two religions.
After nearly a week of being watched on YouTube and other online forums, Pastor Rony Tan yesterday met the leaders of two religions he had disparaged in online video clips, that got him into trouble with the Internal Security Department (ISD) this week.
Actress Zhang Ziyi was forced to contribute 160,000 yuan (HK$182,000) for Sichuan earthquake relief after outraged mainlanders criticised her for overstating her donation and allegedly misappropriating money raised for victims.
‘I have received a number of e-mails from people who have been saddened and hurt by the testimonies of an ex-monk and an ex-nun. I realised that my presentation and comments were wrong and offensive. So I sincerely apologise for my insensitivity towards the Buddhists and Taoists, and solemnly promise that it will never happen again.
The Home Affairs Ministry issued this statement last night: ‘The Internal Security Department (ISD) has called up Pastor Rony Tan of Lighthouse Evangelism (LE) today in connection with his comments and insinuations about Buddhism and Taoism at LE sessions. These sessions were video-recorded and made available on LE’s website; video clips of these sessions subsequently became available on YouTube and other websites.
Some think they could be using a moneylender’s licence to get around tight casino rules
Amid difficult economic ties, China has emerged as a convenient target for both Democrats and Republicans
The $5 million audit exemption threshold is under review. The outcome could mean cost savings for small businesses, but also a reduced client pool for small and medium accounting practices.
Clearly, when it comes to regulating the Australian stock market, it’s a dictum heeded by the government Down Under. On Jan 28, sweeping changes were announced to the financial sector that put market manipulation, rigging and insider trading on a list of serious offences that include murder, drug trafficking and kidnapping.
Under the school of feng shui - the traditional Chinese practice of predicting fortunes through dates and classical Chinese texts - the new lunar year starting Sunday is associated with the natural elements of metal, wood, thunder and fire. Metal is a symbol of righteous action - like waging war. Thunder and fire symbolize volatility, while wood feeds the fire.
The spring festival holiday delivers a week of no trading in China. Holidays always make people feel differently and this is reflected in their trading behaviour. Periods leading up to, or following, major holidays often show repeated statistical relationships. For some traders, this offers an opportunity to develop specific holiday period trading strategies. For others, the volatility surrounding holidays is discounted. They adjust trailing stops to take this into account because they know the impact is temporary. While past performance is not a perfect guide to the future, there are certain statistical relationships that develop.
Tuesday, 9 February 2010
Police in central China have shut down a hacker training operation that openly recruited thousands of members online and provided them with cyber attack lessons and malicious software, state media said Monday.
The Hong Kong property market has risen too fast and buyers must look out for a bubble, Cheung Kong (Holdings) Ltd.’s executive director Justin Chiu said.
Flush with cash despite the global economic downturn, China’s sovereign wealth fund quietly snapped up more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley, Bank of America and Citigroup.
I believe the rally will continue. The recent slump, in my view, was normal. The U.S. stock market historically has averaged at least three declines a year of 5 percent or more, and one fall of 10 percent or more, according to Ned Davis Research Inc. I think the rally will resume and run -- with unpleasant interruptions, to be sure – through most of 2010, and possibly longer.
The Internal Security Department (ISD) has called up Pastor Rony Tan of Lighthouse Evangelism in connection with his comments and insinuations about Buddhism and Taoism at his church sessions.
Mainland shipyards, where new orders dropped more than 50 per cent last year, are expecting a substantial rebound in new building contracts this year as the shipping industry recovers, according to a senior official at China State Shipbuilding Corp (CSSC).
Monday, 8 February 2010
The reason is this: al-Qaeda terrorists had made 8 attacks on the Chinese with the following results:
Internet search firm Google is finalising a deal that would let the US National Security Agency help it investigate a corporate espionage attack that may have originated in China, the Washington Post reported on Thursday.
Google’s accusation that its e-mail accounts were hacked from China landed like a bombshell because it cast light on a problem that few companies will discuss: the pervasive threat from China-based cyberattacks.
President Barack Obama’s top intelligence official says Chinese spies have increased their work in the United States.
A senior Chinese official said on Thursday that China would not bow to pressure from the United States to revalue its currency, which President Obama says is kept at an artificially low level to give China an unfair advantage in selling its exports.
Sunday, 7 February 2010
In a speech recently on ‘Internet freedom’, Secretary of State Hillary Clinton decried the cyberattacks that threaten US economic and national security interests. ‘Countries or individuals that engage in cyber attacks should face consequences and international condemnation,’ she warned, alluding to the China-Google kerfuffle. We should ‘create norms of behaviour among states and encourage respect for the global networked commons’. Perhaps so. But the problem with Mrs Clinton’s call for accountability and norms on the global network is the enormous array of cyberattacks originating from the US. Until we acknowledge these attacks and signal how we might control them, we cannot make progress on preventing cyberattacks emanating from other countries.
Chinese inventors hoping to seek patents abroad must go through a state security examination as Beijing tries to prevent the leak of sensitive technology, while streamlining the application process to encourage Chinese companies to take innovations abroad.
One of the most commonly quoted stockmarket axioms is ‘as goes January, so goes the rest of the year’, which refers to January’s supposedly uncanny ability to predict how the market might perform for the next 11 months. So if January is weak then believers in the axiom say the rest of the year will be weak, but if it’s strong then the year will be strong. Since the Straits Times Index (STI) dropped about 5 per cent in January, could this be a portent of a soft year ahead for local stocks?
Cashed-up mainlanders snapped up almost one in five luxury flats sold in Hong Kong last year, a sign of their growing economic might in the city.
In 2008, the Chinese built a ball field — boy, what a ball field — known worldwide for its lattice-like architecture as the Bird’s Nest. Alas, after the 2008 Olympics, the ticket buyers haven’t come. Right now, the Bird’s Nest serves as a winter amusement park known as the Happy Ice and Snow Season. In April, a promoter may stage a celebrity rock concert to “establish China as a world leader for global peace and a healthier planet.” Or not.
White House economic adviser Paul Volcker on Tuesday took to Congress his call to curb risky investing by big banks, warning that his soul would haunt lawmakers when the next banking crisis hits if they did not heed him now.
The time has come to call a spade a spade. In this period of heightening polarisation over issues like constitutional reform and the election of the next chief executive, it is imperative that Hong Kong as a whole should get its act together and work towards the twin objectives so desired by all. These are a stable society offering equal opportunities and a harmonious atmosphere affording room and scope to develop latent potential.
Pulling suitcases and hefting heavy bags on their shoulders, millions of mainland workers are boarding trains to head home for the Lunar New Year - a holiday that triggers the world’s biggest annual migration of people.
There’s a saying among ultra-rich men in northern China: you need a young beautiful wife, a Lamborghini, a villa with expansive grounds, a purebred horse and a Tibetan mastiff (zang’ao), the bigger and more ferocious the better.
World-renowned short seller Jim Chanos -- the hedge fund manager who called the fall of Enron and the systemic problems cause by subprime mortgages --recently turned his gimlet eye on China. He saw a country whose rapid rise was hiding massive flaws: grossly inflated real estate prices, irresponsible construction lending, massive overbuilding, a banking system larded with bad loans, and unreliable government data. Fitch Ratings weighed in this week saying that China’s banks face the greatest “bubble risk” of any Asian country.
The president of Yale University says China’s top universities will rival the elite ones in the United States and Britain in 25 years, a week after Premier Wen Jiabao pledged to make the country’s universities “world class”.
The listed company of fung shui master Tony Chan Chun-chuen reassured investors yesterday after police searched its Cyberport offices and the homes of its directors in the investigation into a suspected forged document.
A top police officer who oversaw cyber censorship in Beijing pleaded guilty yesterday to taking more than 4.2 million yuan (HK$4.78 million) in bribes from an anti-virus company to frame an executive of a business rival.
Skyrocketing train fares, the ordeal of long journeys and the stress of meeting a parent’s expectations are keeping young migrants from going home for the Lunar New Year.
As the high-profile trial of the most senior cadre snared in Chongqing’s crackdown on gangsters continues, further details of the former justice chief’s decadent lifestyle have been revealed in court.
“Seventy-seven per cent of the money raised by mainland corporates in the Hong Kong equity market in the first 11 months of 2009 has stayed in the Hong Kong dollar account. That tally will swell to HK$300 billion by the end of last year.”