Saturday, 13 December 2008
Mainland oil giants slide after Goldman review
Shares of Hong Kong-listed mainland oil giants PetroChina, China Petroleum & Chemical Corp (Sinopec) and CNOOC, slumped by more than 10 per cent yesterday after Goldman Sachs cut its average oil price forecast for next year, saying crude may drop to US$30 a barrel in the first quarter, and cut its ratings on some oil stocks.
Mainland Home Sales Fall 20.6 Percent
Sales of private housing on the mainland dropped 20.6 per cent in the first 11 months from a year earlier, the National Bureau of Statistics reported yesterday.
China Energy Oversupply Seen
The mainland may face an oversupply of energy over the next two years, as demand growth slows at the same time that many new energy projects are set to start operation, a National Energy Administration official said.
Top prosecutor sorry for Chen Shui-bian
He felt sorry for former President Chen Shui-bian, who made him the nation’s top prosecutor, had to be indicted by the Special Counsel for corruption and money laundering.
Zhonghui suspends share trading as debts cloud future
Zhonghui Holdings has suspended trading of its shares, citing uncertainties over whether it would be able to meet its financial obligations and continue as a going concern.
AG Woon: Wealth is not a factor
To those who question if there are separate laws for the rich and the poor, Singapore’s top prosecutor is most definite: Wealth is not a factor in the wheels of justice.
My own family scolds me for the cases I take
Lawyer Subhas Anandan was with his friends in a private room at an expensive nightclub when a hostess walked in. Her smile faded when she recognised him as the lawyer in the Kallang body parts case.
Taiwan’s Lee Teng Hui Faces Probe
Taiwanese prosecutors are to investigate former president Lee Teng-hui on suspicion of money laundering, following the indictment of his successor Chen Shui-bian on corruption charges, a report said on Saturday.
China’s Economy Sliding Deeper
A series of figures show the Chinese economy will continue to slide before recent economic stimulus policies become effective. And it may be too early to declare that the economy would bottom out in November. It is concluded at the Central Conference on Economic Affairs that pressure on economic sliding is growing heavier and enterprises facing more operation difficulties.
2009 China’s Holiday
New Year: January 1st (Thu) - 3rd (Sat). Back to work on January 4th (Sun.).
Lunar New Year: January 25th (Sun) - 31st (Sat). Back to work on February 1st (Sun).
Qing Ming Festival: April 4th (Sat) – 6th (Mon).
Labour Day: May 1st (Fri) – 3rd (Sun).
Dragon Boat Festival: May 28th (Thu) – 30th (Sat). Back to work on May 31st (Sun).
National Day and Mid-Autumn: October 1st (Tue) – 8th (Thu). Back to work on October 9th (Fri)
Lunar New Year: January 25th (Sun) - 31st (Sat). Back to work on February 1st (Sun).
Qing Ming Festival: April 4th (Sat) – 6th (Mon).
Labour Day: May 1st (Fri) – 3rd (Sun).
Dragon Boat Festival: May 28th (Thu) – 30th (Sat). Back to work on May 31st (Sun).
National Day and Mid-Autumn: October 1st (Tue) – 8th (Thu). Back to work on October 9th (Fri)
Alleged Fraud Hits Investors
Investors scrambled to assess potential losses from an alleged $50 billion (S$74.5 billion) fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.
- Angry investors gather at headquarters
- Collapse puts pressure on market
- Were red flags ignored?
China’s Economy Sliding Deeper
A series of figures show the Chinese economy will continue to slide before recent economic stimulus policies become effective. And it may be too early to declare that the economy would bottom out in November. It is concluded at the Central Conference on Economic Affairs that pressure on economic sliding is growing heavier and enterprises facing more operation difficulties.
Olam Buys Back US$118m Convertible Bonds
With clearing price at 65%, firm paying US$76.44m, funded by new 3-year loan
More clarity needed at Zhonghui
Zhonghui Holdings investors are on tenterhooks - and for good reasons. First was news last week that United Overseas Bank (UOB) has demanded repayment of two outstanding loans totalling about $19.6 million. And second, there is worry over whether the company’s proposed solution to meet the debt repayment will work.
Independent directors of Advance Modules upset
Management not giving sufficient info on state of affairs at units, they lament
Chinese car sales hit by slowdown
Chinese car sales have plummeted and the country's retail sales have slowed as the global economic downturn hits the economy.
Good English the way to go
Since independence, Singapore has adopted English as our language of use for business and government. As a result, we have gained a competitive edge as English is the lingua franca on the Internet and in a globalised world.
New Taoist College to offer diploma course
It opens this month and hopes to encourage the young to study Taoism
Internet presents opportunities, potential dilemmas for Beijing
Official statistics suggest that only 19.1 per cent of the mainland’s population has access to the internet, lower than the world’s average of 21.1 per cent. The figure for South Korea and Japan is about 70 per cent.
Buy in anticipation, sell on news?
There are no discernible improvements in the US or HK economies yet, but stocks react as if there are, rising sharply
All are equal under the law, says AG Woon
Impartiality rules; no undue influence allowed in quest for justice in Singapore
Family or football? Er, that’s a tough one
Worldwide survey shows Singaporeans are crazy about BPL
Singapore's favourite player is Liverpool's Spanish striker Fernando Torres.
Singapore's favourite player is Liverpool's Spanish striker Fernando Torres.
Property investment sales slow to a trickle
Players wary of big bang deals amid weaker sentiment, tighter financing
Remisiers push for alternative to buying-in market
Remisiers’ body also calls on SGX to consider scrapping short-selling fines
Time for the lecturer to become the lectured
Oh, what a difference 30 years - or even two years - can make. When China got rid of class struggle and world revolution after the death of Mao Zedong and opted for economic development, it was a willing student of the West, especially of the United States, on how to run a market economy.
Friday, 12 December 2008
Strange goings-on in the Hong Kong stock market
Anyone who is not a professional share trader can be forgiven for wondering what on earth is going on in the Hong Kong stock market at the moment.
ICBC to increase lending to smaller firms by 15pc
The Industrial and Commercial Bank of China, the mainland’s largest lender, said yesterday it would increase lending to small and medium-sized enterprises by at least 15 per cent in each of the next three years.
Beijing expected to make bold tax adjustments next year
Beijing will most likely take bolder steps to cut taxes next year as it boosts household and corporate incomes to avoid a sharp economic slowdown.
Goldman cuts mainland growth forecast to 6pc
Economic outlook worsens on drop in exports, investment
Sinking reserves force Russia to devalue again
Russia devalued the rouble for the fifth time in a month, widening its trading band against the US dollar and euro after reserves fell US$161 billion defending the exchange rate.
Mainland retail sales hold up well, but outlook weak
Mainland retail sales held up better than expected in November, but the government said some industries had run into severe trouble and forecast further weakness next quarter before the economy bottoms out.
Property Stock Rally Will be Brief, Say Analysts
Shares of Hong Kong developers gained yesterday for a third day yesterday as investor confidence was boosted by encouraging sales of new projects and expectations of interest rate cuts soon.
Possible compensation for ‘frivolous’ prosecution
Judges could soon have the power to order costs and compensation for an accused person if they find that the prosecution had been ‘frivolous’ in bringing charges against him.
Evidence may be revealed to defence before trial
If the proposed changes to the Criminal Procedure Code are passed, lawyers may have gone some way in getting what they had been clamouring for, for years - a level playing field with the prosecution.
Charged with Corruption
Taiwanese prosecutors on Friday indicted former president Chen Shui-bian on corruption charges, a spokesman said.
State Public Prosecutor General Chen Tsung-ming, left, announcing that former President Chen Shui-bian has been indicted on on corruption charges on Friday.
China to Issue 3G Licenses as Early as This Month
China will issue third-generation mobile phone licenses as early as this month and expects companies to spend 200 billion yuan ($30 billion) on installing equipment, the industry minister said Friday.
Singapore Market To Bottom In Mid-2009 – CIMB
0832 GMT [Dow Jones] CIMB expects STI to break 2008’s low of 1474 next year but says Singapore market should bottom at some point during the year; “Market bottoms are frequently made when the going is at its worst; we expect that point to be reached sometime in mid-2009.” Broker maintains end-09 STI target of 2040, Neutral position on the market. Says favoured sectors for recovery are plantations, financials, offshore & marine. Says deflation will be key theme for Singapore market in 2009, could precipitate severe profit recession in 1H09, add to job cuts; “we are not optimistic on Singapore’s 2009 economic performance.” Remains defensive for 1H09, with top picks including CCT (C61U.SG), ComfortDelgro (C52.SG), M1 (B2F.SG), SembMarine (S51.SG), SGX (S68.SG), SingPost (S08.SG), SPH (T39.SG) and Wilmar (F34.SG). STI down 3.6% at 1729.71. (KIG)
Singapore Market to Trough In 1Q09 – UOB KayHian
0828 GMT [Dow Jones] The Singapore equity market will likely bottom in 1Q09 as in recessions stock markets typically bottom out in first quarter of very sharp GDP contraction, says UOB KayHian. Notes Singapore stock market already trading at undemanding P/B of 0.99X, says market unlikely to revisit Asian Financial Crisis trough valuations given Singapore’s strong corporate, household balance sheets, as well as low interest rates. Suggests strategy of holding deep-value yield stocks, together with high-beta large caps. Says based on stock target prices, bottom-up STI target is 2150; adds technical analysis also suggests STI could head towards the 2100-2200 level. STI currently down 3.6% at 1730.37. (KIG)
China Retail Sales Hold Up Well, But Outlook Weak
Chinese retail sales held up better than expected in November, but the government said some industries had run into severe trouble and forecast further weakness next quarter before the economy bottoms out.
Dead End for a Tycoon’s Creative Financing
Trapped by financing schemes that he used to build a retail empire, one of the richest men in China is now in police custody
Thursday, 11 December 2008
Beijing stimulus hopes looking over-optimistic
Yesterday’s announcement that China’s exports shrank 2.2 per cent last month compared with a year earlier rammed home just how hard the global slump is hurting the mainland’s economy. The news will inevitably focus investors’ hopes even more tightly on Beijing’s planned stimulus measures. Unfortunately, those hopes are looking increasingly unrealistic.
HSBC raises interest rate on credit cards to 31.86pc
Despite government measures to boost lending to help the economy and a drop in bank funding costs, HSBC Holdings, the city’s largest issuer of credit cards, is raising interest rates on all its local personal credit cards to 31.86 per cent.
Costs for Acquitted Person
Judges could soon have the power to order costs and compensation to a person acquitted in court - if they find that the prosecution had been ‘frivolous’ in bringing charges against him.
Dear Marian
I kNOw you have been working very hard. NOwadays, NOthing much has changed. You must have NOticed that our company is NOt doing NOticeably well as yet.
NOw the newspaper are saying the world`s leading ecoNOmists are Not sure if the United States may go into aNOther recession. After the NOvember presidential elections things may turn bad.
I have NOthing more to add NOw. You kNOw what I mean.
Yours truly,
Manager
NOw the newspaper are saying the world`s leading ecoNOmists are Not sure if the United States may go into aNOther recession. After the NOvember presidential elections things may turn bad.
I have NOthing more to add NOw. You kNOw what I mean.
Yours truly,
Manager
Dear Bo$$
In thi$ life, we all need $ome thing mo$t de$perately. I think you $hould be under$tanding of the need$ of u$. Worker$ who have given $o much $upport including $weat and $ervice to your company.
I am $ure you will gue$$ what I mean and re$pond $oon.
Your$ $incerely,
Marian $hih
I am $ure you will gue$$ what I mean and re$pond $oon.
Your$ $incerely,
Marian $hih
Dow Jones- Technical Analysis
On November 24, the Dow Jones recaptured the prior support and then resistance area around 8,144, suggesting that the recent drop below it had been a mere bear trap, shifting the bias to bullish again. After some consolidation, the index broke above short-term crucial resistance at 8,790-8,831 in Monday’s trade. It is now facing resistance at the declining 50-day moving average at 8,866 and has established a short-term consolidation below this hurdle and Monday’s high at 9,026 the past two sessions. A break above 9,026 would corroborate the improved short-term technicals and may trigger further upside towards around next significant resistance above at 9,654. Next potential support levels are coming in at 8,637-8,646, 8,447 and 8,118. A violation of the latter level would imply a resumption of the major trend lower.
HSI - Technical Analysis by DB
The HSI had been located in a short-term consolidation around the centre line of the Bollinger Bands for seven sessions. In Monday’s trading, the index took out resistance of the upper confine of the consolidation at 14,254. Key-resistance and next upside objective at 15,318 was cleared in yesterday’s session. This breakout establishes an intermediate-term uptrend and confirms a double bottom. Next resistance is seen at current levels, at 15,962 and around 16,250. Next significant support is located at 13,875. A pullback towards this level should be taken into account. Only a violation on a closing basis would negate the short-term uptrend and indicate choppy sideways action.
The Main Causes of Liver Damage are:
The main causes of liver damage are:
1. Sleeping too late and waking up too late are main cause.
2. Not urinating in the morning.
3. Too much eating.
4. Skipping breakfast.
5. Consuming too much medication.
6. Consuming too much preservatives, additives, food colouring, and artificial sweetener.
7. Consuming unhealthy cooking oil. As much as possible reduce cooking oil use when frying, which includes even the best cooking oils like olive oil. Do not consume fried foods when you are tired, except if the body is very fit.
8. Consuming raw (overly done) foods also add to the burden of liver. Veggies should be eaten raw or cooked 3-5 parts. Fried veggies should be finished in one sitting, do not store.
We should prevent this without necessarily spending more. We just have to adopt a good daily lifestyle and eating habits. Maintaining good eating habits and time condition are very important for our bodies to absorb and get rid of unnecessary chemicals according to ‘schedule.’
1. Sleeping too late and waking up too late are main cause.
2. Not urinating in the morning.
3. Too much eating.
4. Skipping breakfast.
5. Consuming too much medication.
6. Consuming too much preservatives, additives, food colouring, and artificial sweetener.
7. Consuming unhealthy cooking oil. As much as possible reduce cooking oil use when frying, which includes even the best cooking oils like olive oil. Do not consume fried foods when you are tired, except if the body is very fit.
8. Consuming raw (overly done) foods also add to the burden of liver. Veggies should be eaten raw or cooked 3-5 parts. Fried veggies should be finished in one sitting, do not store.
We should prevent this without necessarily spending more. We just have to adopt a good daily lifestyle and eating habits. Maintaining good eating habits and time condition are very important for our bodies to absorb and get rid of unnecessary chemicals according to ‘schedule.’
Brain Damaging Habits
1. No Breakfast
People who do not take breakfast are going to have a lower blood sugar level. This leads to an insufficient supply of nutrients to the brain causing brain degeneration.
2. Overeating
It causes hardening of the brain arteries, leading to a decrease in mental power.
3. Smoking
It causes multiple brain shrinkage and may lead to Alzheimer disease.
4. High Sugar consumption
Too much sugar will interrupt the absorption of proteins and nutrients causing malnutrition and may interfere with brain development.
5. Air Pollution
The brain is the largest oxygen consumer in our body. Inhaling polluted air decreases the supply of oxygen to the brain, bringing about a decrease in brain efficiency.
6. Sleep Deprivation
Sleep allows our brain to rest. Long term deprivation from sleep will accelerate the death of brain cells.
7. Head covered while sleeping
Sleeping with the head covered increases the concentration of carbon dioxide and decrease concentration of oxygen that may lead to brain damaging effects.
8. Working your brain during illness
Working hard or studying with sickness may lead to a decrease in effectiveness of the brain as well as damage the brain.
9. Lacking in stimulating thoughts. Thinking is the best way to train our brain, lacking in brain stimulation thoughts may cause brain shrinkage.
10. Talking Rarely
Intellectual conversations will promote the efficiency of the brain.
People who do not take breakfast are going to have a lower blood sugar level. This leads to an insufficient supply of nutrients to the brain causing brain degeneration.
2. Overeating
It causes hardening of the brain arteries, leading to a decrease in mental power.
3. Smoking
It causes multiple brain shrinkage and may lead to Alzheimer disease.
4. High Sugar consumption
Too much sugar will interrupt the absorption of proteins and nutrients causing malnutrition and may interfere with brain development.
5. Air Pollution
The brain is the largest oxygen consumer in our body. Inhaling polluted air decreases the supply of oxygen to the brain, bringing about a decrease in brain efficiency.
6. Sleep Deprivation
Sleep allows our brain to rest. Long term deprivation from sleep will accelerate the death of brain cells.
7. Head covered while sleeping
Sleeping with the head covered increases the concentration of carbon dioxide and decrease concentration of oxygen that may lead to brain damaging effects.
8. Working your brain during illness
Working hard or studying with sickness may lead to a decrease in effectiveness of the brain as well as damage the brain.
9. Lacking in stimulating thoughts. Thinking is the best way to train our brain, lacking in brain stimulation thoughts may cause brain shrinkage.
10. Talking Rarely
Intellectual conversations will promote the efficiency of the brain.
The Top Five Cancer-Causing Foods are:
1. Hot dogs
Because they are high in nitrates, the Cancer Prevention Coalition advises that children eat no more than 12 hot dogs a month. If you can’t live without hot dogs, buy those made without sodium nitrate.
2. Processed meats and bacon
Also high in the same sodium nitrates found in hot dogs, bacon, and other processed meats raise the risk of heart disease. The saturated fat in bacon also contributes to cancer.
3. Doughnuts
Doughnuts are cancer-causing double trouble. First, they are made with white flour, sugar, and hydrogenated oils, then fried at high temperatures. Doughnuts, says Adams, may be the worst food you can possibly eat to raise your risk of cancer.
4. French fries
Like doughnuts, French fries are made with hydrogenated oils and then fried at high temperatures. They also contain cancer-causing acryl amides which occur during the frying process. They should be called cancer fries, not French fries, said Adams.
5. Chips, crackers, and cookies
All are usually made with white flour and sugar. Even the ones whose labels claim to be free of trans-fats generally contain small amounts of trans-fats.
Because they are high in nitrates, the Cancer Prevention Coalition advises that children eat no more than 12 hot dogs a month. If you can’t live without hot dogs, buy those made without sodium nitrate.
2. Processed meats and bacon
Also high in the same sodium nitrates found in hot dogs, bacon, and other processed meats raise the risk of heart disease. The saturated fat in bacon also contributes to cancer.
3. Doughnuts
Doughnuts are cancer-causing double trouble. First, they are made with white flour, sugar, and hydrogenated oils, then fried at high temperatures. Doughnuts, says Adams, may be the worst food you can possibly eat to raise your risk of cancer.
4. French fries
Like doughnuts, French fries are made with hydrogenated oils and then fried at high temperatures. They also contain cancer-causing acryl amides which occur during the frying process. They should be called cancer fries, not French fries, said Adams.
5. Chips, crackers, and cookies
All are usually made with white flour and sugar. Even the ones whose labels claim to be free of trans-fats generally contain small amounts of trans-fats.
Chen’s Latest Interrogation Tipped to be His Last Before Charges Laid
Taiwanese prosecutors have questioned former president Chen Shui-bian in his cell in Taipei, in what could be the last interrogation ahead of a graft indictment.
Firms May Have to Pay for Compensation Plan
Some mainland dairy companies will probably have to pay for a compensation plan being prepared by the government for families of hundreds of thousands of children made ill by tainted milk powder, the health ministry said yesterday.
US Housing Fire Sale Not a Good Enough Deal for Chinese Buyers
“It is not reasonable for ordinary Chinese people to purchase houses in the U.S,” an insider in the domestic real estate industry points out.
Lakeside Buildings to be Chopped Shorter
Several tall buildings around West Lake in Hangzhou will be made shorter to preserve the area’s natural beauty and support its application for World Heritage status, the city government said on Tuesday.
China IPOs Dry Up as Bubble Bursts
“Overseas investors now favour Chinese companies that are engaged in solar energy, bio-tech and companies with self-owned intellectual property rights, as well as the ones with established sales networks,” said Ding Gongmin, chief representative of Europe Finance and Industry (EFI), a French investment bank.
Two killed as bridge collapses in Kunming
Two people were killed and four injured when a bridge being demolished collapsed unexpectedly in Kunming on Tuesday evening.
Getting loans not so easy
They may have perfect credit histories and earn around $3,000 a month, but many consumers are finding it hard to get a car loan.
Woman to Take Mental Test
She challenged bank’s call to assess her ability to handle $8.9m account
Evil adopted daughter!
Evil adopted daughter!
Italy poised to overtake France as world’s largest wine producer
A bumper harvest is expected to push Italian wine production above that of neighbouring France for the first time in a decade, possibly making Italy the world’s largest wine producer
Global slump next year will hit Asia hard: World Bank
Singapore, Taiwan most vulnerable as global trade set for first fall since 1982
Recent rally may not have legs to last
Stock markets have bounced off lows but watchers wary of calling the bottom
Private equity funds put mainland assets on block
Real estate private equity funds that made aggressive investments in the mainland market at high prices prevailing in 2006 and last year are now being forced to offload the underperforming assets that have been plagued by a non-stop fall in prices over the past 15 months.
Cash-rich investors in hunt for bargains at home and abroad
With stock markets beset by uncertainty and volatility and showing no signs of stabilising anytime soon, a growing number of cash-rich mainland investors are on the hunt for bargains in both their domestic property market and markets in the United States.
U.S. newspaper bubble, too, has burst
The bankruptcy filing of the Tribune Company on Monday is just the latest, largest evidence that the American newspaper industry is suffering the hangover from an immense buying spree in 2006 and 2007 at what turned out to be the worst possible time for the buyers, just as the business was about to enter a drastic decline.
Investors buy U.S. debt at zero yield
When was the last time you invested in something that you knew wouldn’t make money?
High-flyers find success at home after returning from overseas
“By loosening rules on visa requirements, allowing dual citizenship or issuing more green cards, China could definitely create more favourable conditions for high-level personnel to return. The expertise and knowledge of this group of people would definitely help advance China’s development in all sectors.”
China on path to lead world in new patents
China has greatly stepped up its applications for new patents and will pass Japan, the current leader in new patents, by 2012, according to a report released on Wednesday by Thomson Reuters Scientific.
Japanese emperor falls ill due to row with son over heir
The Japanese emperor has been struck down by a stress-related condition apparently brought on by a widening rift within the imperial family
Wednesday, 10 December 2008
Cooperation with China Critical for Obama
Resolving almost any international problem now - from reducing North Korea’s potential nuclear threat to slowing global warming - requires Beijing’s cooperation. The financial crisis also underscores China’s importance: Its $1.9 trillion in foreign reserves will be indispensable in helping to avert a global economic meltdown.
In Search of Balance for a Reliable Yuan
China has been on the right track since currency reform in 2005. This is no time to be sidetracked by yuan devaluation
Mainland Private Equity Deals Held Up by Opaque Rules
Private equity and venture capital investors on Monday called on Beijing to set clear and stable rules for investments in a country where it has become notoriously difficult to complete a deal.
2-Year-Old Soda, Anyone?
A Tokyo supermarket has continued to sell expired food and beverages at bargain prices at its specially established Mottainai Shohin (products too precious to waste) corner.
China'sTesting Times That Created a Clamour For Education
The 1977-78 university exams defined a nation
Survey ships near Diaoyu islands ‘in Chinese waters’
Diaoyu islands belong to China, you dumb fuck Japanese motherfuckers! You deserved to be nuked again.
China Taps Wall Street’s Chinese Talent Pool
Lin Kaiqing also said he was surprised when he heard domestic companies are willing to pay four or five million yuan per year to Wall Street talent. For him, this is really a big move, as big as the 4 trillion yuan economic relief package.
Tuesday, 9 December 2008
Until Wall Street Capitulates, It’s Best to Stay Nimble
Last week’s column advised investors to be careful buying into what was most probably yet another bear trap. As it turned out, the Straits Times Index, which clearly enjoys support from the thinly-traded Jardine group, gave up the 70 points it had gained the previous week through month-end window-dressing when it lost 73 points last week.
Taiwan May Indict Chen Soon
Prosecutors may indict Taiwan’s former president Chen Shui-bian and his family on corruption and money laundering charges by the end of the year, a media report said on Monday.
Singapore Banks Push on with China Long March
If there’s anywhere they want to go, it would be China, says an analyst
Get the low-down on home loan top-ups
Banks don’t usually ask for fresh valuations despite price slide
Human Wave Slows as Recession Bites
The US economic meltdown will not only have financial implications for the island state but will also impinge on its demographic strategy.
1930s Beggar-Thy-Neighbour Fears as China Devalues
China has begun to devalue the yuan for the first time in over a decade, raising fears that it will set off a 1930s-style race to the bottom and tip the global economy into an even deeper slump
Rents for luxury properties take a tumble as banks lay off expats
After rising steeply for the past two years, rents for prestigious residential properties in Hong Kong are tumbling, with landlords scrambling to grab good tenants as international investment banks lay off expatriates or cut their housing allowances.
5 Guards Charged with Manslaughter in Iraq Deaths
In the first public airing of a case that remains the source of fierce international outrage, the Justice Department unsealed indictments here against five Blackwater security guards, accusing them of manslaughter and misuse of their firearms for the 2007 shooting in Baghdad’s Nisour Square that killed 17 Iraqi civilians and injured as many more.
Singer Andy Lau to Wed Malaysian Girlfriend
Now Hong Kong singer-actor Andy Lau has also popped the question to his Malaysian girlfriend Carol Chu.
Speaking up for Singlish
They say it reflects mix of languages here, and won’t hurt standard English
China Factory Workers Protest
Shanghai Yihsin is a wholly owned unit of Huan Hsin Holdings Ltd, a company based in Singapore with operations in Taiwan, China and San Carlos, California, according to the company’s website.
Dark Pasts Catch Up with China’s Tycoons
First hailed as successes, they are toppled over shady deals
Fuel Tax Reform to Finally Benefit PetroChina and Sinopec
The government has announced it will solicit opinions on the reform of fuel consumption tax. To implement the tax collection differently from other countries, i.e. retail prices including fuel tax, will reduce sales profits of China’s two dominant oil companies, China National Petroleum Corporation (CNPC), PetroChina’s parent, and China Petrochemical Corporation (CPC), Sinopec’s parent, while increasing their profits from refining.
Half of rescued borrowers default anyway
Top federal regulator says many mortgages that are modified end up in default within 6 months
Portfolio Holds 90% Cash and CIC Is Reluctant to Invest Overseas
Despite sharply falling global asset prices, China Investment Corporation (CIC), China’s sovereign wealth fund (SWF), seems to be running a bit scared these days as lessons from its nasty early losses, and the losses of other SWFs, from ill-timed investments in US and European financial firms have convinced it that holding cash is a preferable option.
Power Generation Plummets and May Struggle for Years
After power output growth declined into negative numbers in October, generation from power plants above designated size (state- and non-state-owned enterprises with an annual sales over 5 million yuan) in November may drop by 11% year on year. As barometer of the economy, declining power generation indicates increasing downward pressure on the economy as well as on power company profits.
Vietnamese Brothel ‘Kept Women in Cages’
Vietnamese police in Ho Chi Minh City have raided a massage parlour where women were kept in dog cages
Young Chinese Face the Unknown - Economic Hardship
While his father grew up wondering where his next meal would come from, Beijing resident Ran Zhao wonders whether he should buy a car, study in the United States or try to build up his fledgling snake medicine business.
Ford Discusses Volvo Sale to China Changan
Ford Motor (F.N) is in talks to sell its Volvo car business to its China partner Changan Automobile Group, the National Business Daily reported on Tuesday, citing an unnamed source at the Chinese company.
US Downturn Could Be Worst Since 1940s
Economists expect more layoffs in car, finance industries as firms tighten belts
Regulator ‘working hard’ to push through launch of index futures
The country’s securities regulator was making a concerted effort to pave the way for the debut of the long-delayed stock index futures, a senior official said.
More Countries Enlisted in Chen Graft Investigation
Taiwanese investigators have been seeking help from the countries they suspect Chen Shui-bian and family used to illegally transfer state funds, the island’s media reported.
How to Deal With a Distressed Venture
With the Chinese economy cooling, joint ventures are coming under increasing strain. However, a foreign investor does have options when its partnership founders and the joint venture becomes “distressed”.
Consumption Tax Expected to Dent Demand for Big Cars
The hefty increase in the country’s fuel consumption tax proposed to take effect from January 1 could dent demand for big cars on the mainland and see drivers reducing the distances they travel. It will also prompt mainland carmakers to develop more fuel-efficient vehicles, analysts say.
Beijing’s fuel reform compromise still begs questions
Beijing has finally unveiled its long-awaited proposed reform of the retail fuel price-setting mechanism, but hopes that oil refiners will enjoy guaranteed profit margins remain elusive as the government has stated clearly that it holds ultimate control on prices.
Beijing mulls how to find jobs for workers laid off in fuel-tax reform
The central government is mulling how to re-employ 150,000 transport workers likely to lose their jobs as a result of a fuel-tax reform.
Strength of US Dollar is Temporary, Says CIC Head
Mr. Gao, an ebullient, fluent English speaker, said that the current generation of Americans was so used to US supremacy that it might hurt them to treat others on an equal footing.
China’s Economy Needs to Stand on Its Own Feet
It needs to wean off dependence on exports in favour of local consumption
On Effective Stimulus
Monetary policy, not interest rate cuts, is the key to the efficient, equitable deployment of the stimulus package
China Ramps up Financial Sector Stimuli
A nine-measure package broadened the government’s economic stimulus plan to embrace REITs, PEs and other vehicles.
Recovery in Mainland Property Market Expected to be Short-Lived
Home purchases in some major mainland cities rebounded last month, but property consultants are unimpressed.
Rally in Mainland Developers Ignores Rising Default risk
The rising tide of yesterday’s stock market rally floated a lot of boats, some of which may be in severe danger of springing leaks next year.
US university blamed for officials’ study scam
The central government has suspended all training programmes organised by Northwestern Polytechnic University (NPU) in the United States for Chinese civil servants and accused it of teaming up with mainland officials to cheat the government out of study subsidies, The Beijing News reported.
Court Refuses to Accept First Joint Sanlu Lawsuit
Major setback for families of victims in tainted milk scandal
Turmoil to go beyond 2011
The world economy will likely feel the impact of the global financial turmoil for another three years at least, the 2008 winner of the Nobel economics prize Paul Krugman said on Monday.
Eat More Nuts
Here’s a health tip in a nutshell: Eating a handful of nuts a day for a year - along with a Mediterranean diet rich in fruit, vegetables and fish - may help undo a collection of risk factors for heart disease.
1 Second More for 2008
With a brutal economic slowdown, 2008 may feel as if it will never end. Now the world’s timekeepers are making it even longer by adding a leap second to the last day of the year.
China’s Suicide Rate Soaring
On average, a Chinese person takes his or her own life every two minutes, giving the world’s most populous nation a dismal record as it prepares to celebrate 30 years of otherwise spectacular economic reform.
World’s Oldest Profession, Too, Feels Crisis
“People have less money,” she said. “But hard times also mean that people want to be cheered up.”
Monday, 8 December 2008
‘No ill will intended’ - Fucking Liars
Chan stated that she did not read The Little Bride, a comic tract published by Chick Publications, an American publishing company. Neither was she aware of its contents.
Bloody Christian liars. Who is to believe you don't read the materials that you distribute? You have 400 tracts of The Little Bride in your home and you don't know the contents? You distribute the tracts with an objective, and you certainly must know the contents because you want it to achieve your objective.
Fund Managers Cautious on Chinese Equities
Fund managers are less bullish about Chinese equities in the fourth quarter as the mainland economy is expected to worsen, according to the latest quarterly survey by HSBC.
Steer Clear of ‘Wash Trades’ and ‘Marking the Close’: SGX
The Singapore Exchange (SGX) has cautioned in the latest Regulator’s Column posted on its website that ‘wash trades’ and ‘marking the close’ are forms of market manipulation that breach Sections 197 and 198 of the Securities and Futures Act and are punishable by stiff fines or even jail.
Key Stake in Straits Asia May Change Hands
Major shareholder reviewing interest following offers from several parties
Telecoms Struggle with 3G Static in China
Commercializing a home-grown standard for 3G mobile phones has been a tall order for China’s telecom industry
Retailers Feeling the Winter Chill
While overall prospects remain good, Chinese retailers are having to adjust to a slowing market
Nissan to Drive Steadily in China
Nissan remains confident in Chinese market and targets one million sales in five years.
UOB seeks loan repayment from Zhonghui
Bank demands payment for two outstanding sums of S$1.02m and US$12.5m
First Export Drop in 7 Years Reported
The value of mainland exports fell year on year in November - the first monthly drop in more than seven years - an influential mainland newspaper has reported.
PAD May Fuel Backlash
Many analysts say there will inevitably be a backlash to the PAD’s ultra-royalist rhetoric and military-style shock tactics and violence - and when it comes, Thailand will be plunged into very serious turmoil.
The Kiss of Deaf
A young woman in southern China has partially lost her hearing after her boyfriend ruptured her eardrum during an excessively passionate kiss, local media reported on Monday.
Irish Tainted Pork - 25 Countries Affected?
Contaminated Irish pig meat may have been exported to up to 25 countries, Ireland’s chief vet said on Sunday, as shops at home and abroad cleared out pork products amid fears of a cancer link.
US experts helping mainland make food safer, official reveals
A team of American experts is in Beijing to help mainland authorities improve food-safety regulations in the wake of the tainted-milk crisis, the US secretary of agriculture said yesterday.
‘Made in China’ Shunned
Milk, toothpaste, cough syrup, pet food, eels, blood thinner, car parts, pork, eggs, honey, chicken, dumplings, cooking oil and rice - if you can fake it or taint it, you can almost guarantee it’s happened in China.
Atlantic City: casinos, corruption and sex tape
Former council president sentenced for setting up his rival with a prostitute
Blackwater charges to be unsealed
Charges stemming from 17 Iraqi civilian deaths will be unsealed Monday
U.S. prosecutor in Blackwater shooting case arrives in Baghdad
An American prosecutor working on the case against the five Blackwater security guards indicted in connection with a 2007 shooting in Baghdad has arrived in Iraq and will be meeting with victims’ families this week.
Blackwater guards ‘face charges’
Five employees of the US security firm Blackwater face charges over the 2007 shooting of 17 Iraqis, reports say.
Krugman: US Auto Industry Will Likely Disappear
Nobel economics prize winner Paul Krugman said Sunday that the beleaguered U.S. auto industry will likely disappear.
Krugman: Learn from the past
Lessons learned from the 1930s depression and from more recent economic crises could be the only thing warding off a new Great Depression, the 2008 winner of the Nobel economics prize Paul Krugman said on Sunday.
Rough landing may await high-flying US dollar
The reality of low interest rates and a deep economic recession should finally start to catch up with the US dollar next year, after risk aversion and deleveraging helped push the currency to multi-year highs.
Don’t let fear chase you from a plunging market
Nervous markets create opportunities, but you will have to battle your emotions to keep your portfolio on course and stay committed to your long-term strategy.
Market Mood
In past bear markets, hedge funds were able to use different strategies to keep making money. But that’s not the case in the current financial turmoil. On top of the substantial losses they have incurred, the size of hedge funds’ assets have fallen sharply with a flood of redemptions. Many hedge funds have responded by trying to restrict the redemptions, much to the chagrin of investors.
Bird’s Nest New Confidence
This new pride will change the way citizens look at other issues, says expert
Red Light District Suffers
The go-go bars are empty and sex is on sale at half price as Bangkok’s infamous red light districts suffer from a blockade of the capital’s airports.
Sunday, 7 December 2008
China Scholar Warns of Social Turmoil
Govt urged to focus on creating jobs as ranks of unemployed swell amid economic slowdown
No bailout for Western firms
China Investment Corp (CIC), the country’s US$200 billion (S$304.6 billion) sovereign wealth fund, is unwilling to bail out troubled Western financial firms because of unfair restrictions on its investment, a deputy general manager of the fund said on Saturday.
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