Saturday, 3 January 2009
Hushed IPO Scene Expected Over the Next Six Months
This follows a 77.2% plunge in IPO funds raised last year to US$1.21b from US$5.3b a year earlier.
Thakral Brothers Reschedules $800,000 Debt to Thakral Corp
Amount to be paid in three instalments by April 30 or earlier on same terms announced in March 2007
Will 2009 be the Year of the ‘Two-Tier’ Market?
Trading this week lent support to this description as a push on index stocks helped the STI rise 104 points or 6% over the week to 1,829.71
Indian Tycoon Tops Forbes List of Biggest Losers
Indian tycoon Anil Ambani, chairman of Anil Dhirubhai Ambani Group (ADAG), has topped Forbes’ list of the biggest billionaire losers of 2008. He is estimated to have lost US$30 billion, or more than 71 per cent, of his net worth, settling at just US$12 billion now.
Widespread Misuse of Quake Funds Uncovered
The National Audit Office’s latest probe has uncovered billions of yuan in improperly used funding and materials earmarked for the May 12 disaster relief efforts.
Sanlu Chief May be Scapegoat, say Observers
With speculation rife that former Sanlu Group chairwoman Tian Wenhua will be sentenced to death, observers have warned that could make her a scapegoat and distract from the systemic problems revealed by the melamine-in-milk scandal.
Olam
1) 13MA and 34MA crossover;
2) MACD crossing over 0;
3) Stochastic crossover.
One more LT line to break.
SMM
1) SMM broke out and closed above the upper wedge lines;
2) MACD trending upwards;
3) Stochastic also trending upwards.
Previous attempt on 17/12/08 to break the LT lines only managed to close below the 2nd LT line. Friday's closing managed above the 2nd LT line, shows greater strength to break through the LT lines.
Noble
Previous attempt on 18/12/08 to break out of the LT lines failed, stochastic was coming off from high level.
Current attempt to break out of the LT lines is easier because:
1) LT lines are closer and more congested now meaning less resistance;
2) ST lines are just beginning to expand.
3) MACD just cut up;
4) Stochastic trending up nicely.
Resistance levels are 1.10, 1.17 and 1.31.
Dreamers can hope for 1.66. Dreaming is free!
Our 2009 Financial Predictions - Bad News
We think the Dow could end-up on November 1st, 2009 anywhere from 5,600 to a low of 3,000 or even 1,500. One guideline will be a falling overshoot of PE’s on our largest, so-called international corporations posting lows of 4 to7. Today, many of them are near 18. What does this tell us about the severity of our projections?
Unemployment nationally in the USA is now touching 16%. The officially posted number is somewhere near half of that. By the fall of 2009, American REAL UNEMPLOYMENT WILL BE NEAR THE ALLTIME 1930’S DEPRESSION HIGH OF 25% UNEMPLOYED. SADLY, THAT IS NOT THE WORST AS IT GETS MORE DIRE. WE PREDICT REAL, USA UNEMPLOYMENT REACHES 30-40%. IN THE RUST BELT STATES OF MICHIGAN AND OHIO, WHILE 40% IS NOT UNREALISTIC.
Unemployment nationally in the USA is now touching 16%. The officially posted number is somewhere near half of that. By the fall of 2009, American REAL UNEMPLOYMENT WILL BE NEAR THE ALLTIME 1930’S DEPRESSION HIGH OF 25% UNEMPLOYED. SADLY, THAT IS NOT THE WORST AS IT GETS MORE DIRE. WE PREDICT REAL, USA UNEMPLOYMENT REACHES 30-40%. IN THE RUST BELT STATES OF MICHIGAN AND OHIO, WHILE 40% IS NOT UNREALISTIC.
Woman Allowed $11,300 Monthly Spending
An elderly woman, 92, whose $8.9 million account has been frozen by OCBC Bank pending a psychiatric test, has been allowed to take $11,300 a month from her account by the High Court.
Tenants Leaving with Debt Unsettled
The economic crisis is posing a new problem for landlords: tenants who break leases or even skip town without notice, leaving debts in their wake.
Friday, 2 January 2009
Contradictions in China, and the Rise of a Family
In the 1950s, the Liu family of southwest China’s Sichuan Province was so short of food, they sent one of their youngest sons to be raised by another family.
Today, however, they are one of China’s richest families.
Today, however, they are one of China’s richest families.
Angry Buyers Clash with Developer Wing Tai over Alleged Defects
An ugly spat – that has already resulted in a police report lodged against a homeowner – is brewing between listed property giant Wing Tai and some foreign investors of its three –year-old luxury condo near Orchard Road.
More Upside for US Dollar Against Asian Units Predicted
Asia well-positioned to ride out the worst of storm in first half of 2009, say banks
Lower Dividends on the Cards as Earnings Wither
But blue chip companies likely to maintain payout ratios
As Recession Deepens, So Does Milk Surplus
The long economic boom, fuelled by easy credit that allowed people to spend money they did not have, led to a huge oversupply of cars, houses and shopping malls, as recent months have made clear. Now, add one more item to the list: an oversupply of cows.
Was Whole Economy a Ponzi Scheme?
And it is in this way that we are all Ponzi limited partners: We too thought our retirement funds and houses were growing miraculously, though ours was an illusion fuelled by debt rather than fraud, and we too made plans based on those asset values that now stand in ruins.
“The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally,” said Lee, who was very early in warning about deflation.u
“The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally,” said Lee, who was very early in warning about deflation.u
Investment Bankers Face Uncertain Landscape
For investment bankers who arrange the sale of stocks and bonds, 2008 was a year to forget, and the new year may not bring instant relief.
Experts Glum about Guangdong
Guangdong has rapidly lost its competitive edge to other provinces, and its traditional export-driven model means it will be the jurisdiction worst hit by the global financial torment, according to a provincial think-tank’s annual report.
PLA Said to Eye Four Carriers
The People’s Liberation Army may build up to four medium-sized aircraft carriers by 2020, with the first two being launched in six years, a military source said.
Sleep Disorders: Proper Diagnosis Vital
Doctors say it is important to find out the underlying cause of insomnia so that it can be treated properly and the appropriate medication be dispensed.
Who’s Behind Bio-Treat’s Key Creditor, Shareholder
Holders of Bio-Treat’s convertible bonds (CBs) are probably feeling more uncertain about whether they can recover their investment, as it now appears that resolving Bio-Treat’s default on a loan has taken on a higher priority. Yet no one is any the wiser as to who that creditor really is.
Thursday, 1 January 2009
STI Suffers ‘Window-Undressing’
Most analysts expect a difficult year ahead with much uncertainty shrouding the economic outlook
S-Chips Bear Brunt of Battering
Many companies with China links now trading at a fraction of their old value
As Trade Slows, China Rethinks its Growth Strategy
At Hong Kong docks, the stacks of shipping containers that used to loom above the highway overpass are gone. Logistics managers say they negotiate deeper discounts every week on ships that are leaving half empty.
Hedge Fund Manager Slams Peers for Curbing Clients’ Access to Cash
John Paulson, who runs the US$36 billion hedge fund firm Paulson, has some harsh words for his peers and their tendency this year to block or curb clients’ attempts to get their money back.
China Bull Prefers Mainland Shares Traded in HK, Singapore
Jim Rogers, chairman of Rogers Holdings, said he has been buying shares of mainland companies even as growth in the world’s fourth-largest economy slows.
Time to Rethink Excessive Trust in Central Bankers
Like the United States, during the past decade, Japan and many European nations saw how concentrating so much power in the hands of a few unelected officials can be dangerous.
The risks were personified by Alan Greenspan, Fed chairman from 1987 to 2006. Dubbed the “Maestro” in a gushing book by Bob Woodward, Mr. Greenspan became a one-man think-tank. What he said affected everything from taxes to regulation to trade to debt issuance. Few dared question a man seen back then as a guru.
The risks were personified by Alan Greenspan, Fed chairman from 1987 to 2006. Dubbed the “Maestro” in a gushing book by Bob Woodward, Mr. Greenspan became a one-man think-tank. What he said affected everything from taxes to regulation to trade to debt issuance. Few dared question a man seen back then as a guru.
Guangdong Economy Hit by Beijing’s Policies, says Governor
Guangdong Governor Huang Huahua has admitted publicly for the first time that the provincial economy has been battered by central government policies restricting the export manufacturing industry, according to mainland media reports yesterday.
Yogis Have Better Sex, Study Finds
Eastern enlightenment proved to be sexually beneficial for men and women
Asia in for a Hard Time in 2009
Liquidity is likely to get tighter but it’s a sharp drop in exports across the region that will be most painful
Asia Should Prepare Now for Prospect of New Crises
And now for the next crisis . . . or crises. It might seem that we have already run the full gamut of emergencies with the sub-prime crisis being followed by the collapse of financial institutions, the credit crunch and the crisis of bank lending, leading on to the collapse of economic growth. But that would be wishful thinking and the New Year will bring fresh trials.
High Time for Countering Export Inertia
More work is needed if China truly wants an economic growth model based on domestic consumption, not exports.
Wednesday, 31 December 2008
Capitalism is the Worst System Except for the Rest
The year 2008 will be remembered as one that exposed the fatal flaws in free-market capitalism, sending it to an untimely death.
In Shanghai, New Home Prices Fall More Than 10% in H2
The average unit price of Shanghai’s new residential properties, excluding those built for relocated residents, fell more than 10 percent in the second half of 2008 as compared to the previous six months, a latest industry report has found.
Ready For a Rally?
For much of late 2007 and early 2008, many people in the “real economy” wondered what the financial sector was panicking about. It was only in the autumn that business conditions turned savagely down. By extension, it is quite possible that in the course of 2009 company executives will be bemoaning a slump in both demand and profits at a time when stock markets are rallying in anticipation of recovery in 2010.
Shanghai Closes as the Worst-Performing Stock Market
And the market’s supply/demand balance may actually worsen. The expiry of lock-up periods for investors next year will make 688 billion shares newly subject to selling, more than four times the number which became tradable this year, according to the official China Securities Journal.
Analyst: Equities Are a Waste of Money
Investors who say that equities are their top trades in 2009 do not really understand what is happening in the global economy, says Jim Walker, founder and CEO of Asianomics. He tells CNBC's Martin Soong that they are wasting their money.
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2008 a Year of Triumph and Tragedy for China
From a devastating earthquake to the Beijing Olympics, China witnessed a tumultuous year of triumph and tragedy in 2008 that sorely tested the Communist Party’s ability to manage.
1929 then, and 2008 now...
Back in 1929 Financial Crash, it was said that some Wall Street Stockbrokers and Bankers JUMPED from their office windows and committed suicide when confronted with the news of their firms’ and clients’ financial ruin . . . many people were said to almost feel a little sorry for them…
In 2008, the attitude has changed somewhat…
Awaiting A Breakout From Trading Range
STI has also been in a narrow trading range between 1844 and 1711. From the chart, we can observe that the 50 day moving average also no longer provides support and resistance and should be disregarded at this point in time.
The most immediate numbers for STI support and resistance are 1844 and 1711, the high and low of the range. A close above 1844 should quickly take the STI to the intermediate term high of 1916 where resistance should be strong. We will have to reassess the scenario if the STI does trade to that level as we do not have that much visibility right now. A close below 1711 will take the STI to 1600 which is minor support. The STI will definitely find strong support at 1473, the October low.
Keep Your Wealth for Next Round
A tough 2009...but a speedy recovery is possible once Americans start spending again, says Oei Hong Leong
Studied in China During Tumultuous ‘60s
Mr Oei (fifth from left) who worked on a Chinese farm, visiting Beijing in 1969 with his co-workers.
Mutual Aid Or Mutual Destruction - Andy Xie
As major economies spiral downward in 2009, the ghosts of past financial crises will haunt a divided world
Ex-PBOC Official Warns Further Monetary Easing Could Backfire
A former mainland central banker has called for a halt to the country’s recent flurry of actions to loosen monetary policy, a view partially echoed by analysts.
DTZ Expects 2009 to Echo Property Price Plunge of 2008
Prime district property prices fall by 20%; similar decline seen in 2009
Chery Suffers 8.7pc Decline in Car Sales
Chery Automobile is expected to fall short of its yearly target after sales in the first 11 months dropped 8.7 per cent from last year, hurt by slow domestic and global demand.
Asian Stocks Showing Signs of Bottoming Out
Investors betting on region, with its low debt, high savings
Quake Recovery Central to Chinese Stimulus Plan
In a recovery that will take years, the prosperity of the whole country is at stake. Quake reconstruction is a central plank of the government’s stimulus plan for the ailing Chinese economy. It is set to take one-quarter of a promised spending increase of 4 trillion yuan, or $586 billion, and to create millions of sorely needed jobs.
Chinese Factory Suppliers Feel the Pain from Slump in Exports
Never mind the banks. Shaoxing County in eastern China has started a huge polyester bailout.
Tuesday, 30 December 2008
Chartpoint by KELIVE
The Straits Times Index will likely to continue trade sideways within the 1711 and 1844 band with MACD and RSI indicators reading neutral. Notwithstanding, the STI’s performance is clearly exhibiting a classic symmetrical triangle formation: the signature trait of this chart pattern is extremely low trading activity that precedes either a decisive breakout or in the worst case scenario, a breakdown.
The Next Redemption Wave for Hedge Funds is Mid-January 2009
Hundreds of hedge funds will shut this year as an estimated wave of as much as $700 billion in investor redemptions crashes over the industry, but some managers are trying to hold back the tsunami. At least 75 hedge fund firms, including GLG Partners Deephaven Capital Management, RAB Capital and New Star Asset Management, have put up “gates,” suspended redemptions or unveiled a restructuring this year.
Mainland’s Top Audit Agency to Check Offices, Companies in Hong Kong
The country’s top auditing agency would next year examine how the central government’s agencies and mainland-funded companies in Hong Kong managed state-owned assets, auditor-general Liu Jiayi said yesterday.
Call to Rein in GDP Data Exaggerations
Mainland legislators are calling on Beijing to stop provincial governments compiling their own economic statistics, to clamp down on the doctoring of gross domestic product data.
Pawnshops Return to Fill Niche as Lenders to Small Businesses
After months of rejection from Beijing banks, Wang Fei got the money to start a dried-fruit business by pledging his apartment to a pawnbroker.
Rule Bans Minors in Guangdong from Staying Out All Night
Minors in Guangdong will not be allowed to stay out all night without permission starting on Thursday, under a new rule legal experts say is likely to be unenforceable.
No Room for Lies in Economic Statistics
Mainland statisticians have been steadily earning respect for drawing an increasingly accurate picture of the nation’s economic development. That is a marked contrast to six years ago, when 60,000 violations of statistics laws were reported.
Olympics Marked Mainland’s Entrance Exam into the League of Great Powers
“The west used to look down on China, now they have to look at China from an equal level. They might find it hard to adjust,” he said.
“China can be flexible as long as the core interests are not undermined,” he said. “The Olympics were just like a university entrance test. Now that China has passed, it’s time to move on to a new phase.”
“China can be flexible as long as the core interests are not undermined,” he said. “The Olympics were just like a university entrance test. Now that China has passed, it’s time to move on to a new phase.”
Hard Times
For weeks, China’s leading economists have been babbling away on news talk shows about how certain they are that the mainland’s economy is insulated from the global financial crisis because of its “Chinese characteristics”. The nation’s leaders, however, may now be thinking otherwise, and possibly getting a bit jittery.
Sun East Group’s Executive Chairman Resigns
Sun East Group, which said recently it faced a credit squeeze, said yesterday that its executive chairman Philip Chung has resigned for health reasons.
Esquel’s Path Toward Sewing Success
The Esquel Group may not be a resounding name to most consumers, but people frequently feel pride in wearing a shirt made by it.
Playing Ball
Beijing now accepts the importance of being a global citizen - as long as it serves China’s interests
Another Analyst predicting A MAJOR DEPRESSION
I don’t have a crystal ball, but my forecasts have been fairly accurate and quite profitable over the past few years. While 2008 has been a tough year, all signs point to 2009 being much worse. Here is what I see on the horizon for the upcoming year.
Monday, 29 December 2008
Nation Shows Off its Military Strength
As the mainland’s naval taskforce of two destroyers and one supply ship sails in full force to the pirate-infested Gulf of Aden off Somalia, the high-profile expedition has understandably attracted intense international media scrutiny and speculation over its implications, in the long and short terms.
Man Who Altered History
The approaching close of 2008 should remind us of the day, 30 years ago, that marked the onset of a chain of events that was to alter the course of Asian - and human - history.
Convicted Lawyer’s Best Christmas Gift: Getting Re-Employed
Choy Chee Yean, a veteran arbitration lawyer who was convicted of stealing from a Hong Kong hotel room, received his best Christmas gift yesterday. Choy’s former employer Rajah & Tann LLP has re-employed him as a legal executive. However, in this new position, he can only handle administrative work and not legal matters.
60% of Chinese Investors Suffer 70% Loss on Stock Market
Around 60 percent of Chinese individual investors suffered a loss of more than 70 percent from the country’s bearish stock market this year, an online survey showed today.
Man shoots moviegoer for talking
A man enraged by a noisy family sitting near him in a movie theatre on Christmas night shot the father of the family in the arm, police said.
China Watchdog Tightens Guard on Rat Traders
Until now, many investors still consider turnover as the most important factor guiding investment decisions, as a stock’s swelling trading volume suggests that powerful institutions are the force behind and hence a safe bet.
Flight to Safety Opens Door to Private Banks
The global economic crisis may have pulverized financial markets, but it has also introduced mainland investors to the importance of wealth protection, and that could bode well for the future of the region’s private banking industry.
Asia Markets Suffer Lack of Due Diligence
There has been a lot of finger pointing in the wake of Bernie Madoff’s US$50 billion fraud. The United States Securities and Exchange Commission and other government regulators surely deserve a share of the blame. However, the real question is how so many supposed wizards of Wall Street were taken in by the scam. If a fraud of this scale can be pulled off in the relatively transparent markets of the US, one cringes at the potential scope of the scams moving through Asian markets.
Streets of London - Ralph Mctell
It's been a very long time since I played guitar, and this song brings back fond memories.
China Builds Plan for Low-Income Homes
Housing low-income families and keeping developers honest are goals of an initiative tied to China’s economic stimulus plan.
Bangkok 3-day Protests Begin
Several thousand supporters of exiled former Prime Minister Thaksin Shinawatra launched three days of protests on Sunday, sparking fears of a replay of the mass demonstrations that paralysed the government for months and culminated in an eight-day seizure of the capital’s airports.
Analysis: the Ultimate Power of Printing Money
Instead of building up more currency reserves, China should encourage others to stockpile the yuan.
In Madoff Scandal, Jews Feel an Acute Betrayal
There is a teaching in the Talmud that says an individual who comes before God after death will be asked a series of questions, the first one of which is, “Were you honest in your business dealings?” But it is the Ten Commandments that have weighed most heavily on the mind of Rabbi David Wolpe of Sinai Temple in Los Angeles in light of the sins for which Bernard Madoff stands accused.
Financial Aid to Lure Top Overseas Chinese
The authorities of Guangzhou are doing all they can to lure overseas Chinese talent to work in the southern metropolis.
Don’t Investigate Bosses as it’s Bad for Jobs, Police Told
A high-ranking national police officer has warned colleagues to be cautious in the use of detention and other tough measures in criminal investigations involving corporate executives, citing fear of potential social unrest caused by company closures, mainland media reported yesterday.
Crackdown on Pyramid Schemes, Illicit Banks
Beijing will impose severe penalties on people involved in pyramid sales schemes, underground banking or manipulation of government statistics in a move to strengthen financial security, according to draft revisions submitted to the mainland’s top legislative body yesterday.
China Cuts Air Fuel Surcharges
Business outlook for domestic carriers remain distressed despite fuel price cuts.
Car Slump Jolts Toyota, Halting 70 Years of Gain
A surprisingly grim forecast from Toyota Motor – that it will lose money this fiscal year on its vehicle business for the first time in seven decades – is the latest sign of the global auto industry’s sharp slowdown after years of rising profits and rapid expansion.
Capital Outflow Could Cause China to Sell US Treasury Bonds
Director of the External Debt Department of the State Administration of Foreign Exchange Cai Qiusheng recently revealed that China’s foreign exchange reserve had dropped to under $1.9 trillion.
Cabinet Warns Authorities to Protect Migrants
State Council signals concern over unrest as jobless workers go home
Sunday, 28 December 2008
Big Risk of Mainland Missing Development Goals Amid the Global Crisis, Minister Warns
The mainland is at “grave risk” of missing its goals for social and economic development if it fails to deal properly with problems thrown up by the global financial crisis, the minister for economic planning warned yesterday.
Banks’ Lending Reluctance Undermines Stimulus Plan
The banks can only wait. It is quite probable the government didn’t expect the commercial banks to simply not get in line with PBoC’s monetary and credit policy, but that is what has happened, and what it should have expected, since it decided to promote the marketization of these banks. Welcome to the real world.
Banks’ Lending Reluctance Undermines Stimulus Plan
The banks can only wait. It is quite probable the government didn’t expect the commercial banks to simply not get in line with PBoC’s monetary and credit policy, but that is what has happened, and what it should have expected, since it decided to promote the marketization of these banks. Welcome to the real world.
Printing Money – and its Price
Borrowing and spending beyond ordinary limits largely explains how Americans got into such economic trouble. For decades, businesses and consumers feasted relentlessly, as if gravity, arithmetic and the tyranny of debt had been defanged by financial engineering.
Worker Killed by Ferrari
An Indian national was killed on Saturday after he was hit by a Ferrari along Clementi Road.
Printing Money – and its Price
Borrowing and spending beyond ordinary limits largely explains how Americans got into such economic trouble. For decades, businesses and consumers feasted relentlessly, as if gravity, arithmetic and the tyranny of debt had been defanged by financial engineering.
My Analysis? It’s Time to Stop Believing in Those Analysts
And I don’t care that there were one or two who actually forecast the financial crisis; if you have a universe of analysts who among them hold every conceivable opinion, then at least one of them will always be right at some point. Rather like the old saying that even a stopped clock tells the right time twice a day.
The Rich Prove to be Poor at Looking After Their Fortunes
Credit crunch shows wealthy doesn’t always mean smart
Second-Hand Luxury Goods Defy Slowdown
But while Louis Vuitton has been forced to cancel plans for a new flagship store in Tokyo because of the economic situation, the demand for luxury has not gone away.
Thailand Elite Still Calls the Shots
Ruling class sees rise of rural masses as threat to its dominance
If the former chairman of Nasdaq is a crook, who Can You Trust in America?
Madoff’s fall has planted the seeds of suspicion. We now doubt those we have done business with for years. The presumption of trust is gone.
Global Financial Crisis: Taiwan Stumbles
Taiwan’s economy needs urgent reforms to rescue its middle class and medium sized businesses.
Global Financial Crisis: Life after the Boom
With soaring commodity prices, Africa was starting to flourish before economic problems emerged
SAFE Official Nabbed in M&A Graft Case
Investigators building a criminal case against top officials tied to foreign mergers and acquisitions have detained a new suspect.
Devil’s in Details for China’s Stimulus Plan
Local governments are supposed to help pay for a 4 trillion yuan economic stimulus package. Where will they get the money?
An Asian View of the Global Financial Crisis
Free-market fundamentalism has truly been marked-to-market.
Foreign Automakers in the U.S. Cut Back
Sales are off and production is down, so workers at the Toyota Tundra truck factory here are taking classes: how to handle tools safely, how to get along better with colleagues of varying backgrounds. Some have even cleaned local parks and fed the hungry while collecting Toyota paychecks.
H-Shares Proposed as Hedge Against Forecast 5pc Yuan Slide
An influential member of the mainland cabinet’s think-tank expects the yuan to depreciate against the US dollar as much as 5 per cent next year, and proposes that Beijing consider using its vast foreign exchange reserves to buy H shares.
It Takes Two to Tango
Hong Kong and Guangdong need to get in step to achieve future growth through integrated development
Is the Worst Still Ahead?
The latest macroeconomic news from the United States, other advanced economies, and emerging markets confirms that the global economy will face a severe recession in 2009. In the U.S., recession started in December 2007, and will last at least until December 2009 - the longest and deepest U.S. recession since World War II, with the cumulative fall in GDP possibly exceeding 5 percent.
Paul Krugman: Life Without Bubbles
Whatever the new administration does, we’re in for months, perhaps even a year, of economic hell. After that, things should get better, as President Barack Obama’s stimulus plan - O.K., I’m told that the politically correct term is now “economic recovery plan” - begins to gain traction. Late next year the economy should begin to stabilize, and I’m fairly optimistic about 2010.
Road to Reconciliation
Ma Ying-jeou’s government has brought a dramatic change to cross-strait ties, but the path ahead remains fraught with difficulty
Judicial revision shows more caution over use of death penalty
Beijing is showing more caution in its use of capital punishment by issuing further judicial interpretations of its Criminal Procedural Law, detailing specific circumstances for suspending or overturning death penalties.
Unpaid Vacations, the New Leisure
Shorter working weeks and short-term shutdowns allow firms to retain valuable workforce for when business picks up
Officials Eye Crackdown on Financial Fraud
‘Underground banks’ and other illegal financial schemes are rampant in China. Now, policymakers may clamp down.
Mainland Profit Growth Slows Sharply
The economic slowdown in the mainland cast a damper on companies’ bottom lines on Friday as official data registered a sharp deceleration in profit growth.
Mainland Ports See First Cargo Drop in 7 Years
Cargo volume at mainland ports dropped last month for the first time in seven years due to tightening trade credit and a downturn in the global economy.
Global Financial Crisis: Sinking Sun
The spectre of deflation returns as Japan heads into recession, but this time the policymakers are ready.
Buying Made-in-China? Pay RMB, Please
RMB settlement for goods trade in some areas is being promoted by the government and supporting measures are being formulated. Supervisory departments are planning pilot programs and have recently discussed supporting measures for limited RMB free exchange on a small scale in some areas.
Brown Clouds, Haze on Pollution Watchlist
Scientists say a brown cloud layer blankets huge areas of the planet, including China, threatening the climate and human health.
Banks Face Uncertainty over ‘Financial 30’
The government’s plan for encouraging loans to stimulate the economy is facing resistance from the banking sector.
Expect More Independent Directors to Abandon Ship
Public companies are not required to tell how they have equipped the independent directors. Yet, it is reasonable to believe that most firms prefer to do little because the more knowledgeable the independents are, the more demanding they will be and the more difficult the job of the executives will become.
Central Bank Urges Measures to Lift Spending
Beijing needs to adopt more comprehensive policies to stimulate domestic spending as an economic growth driver to ride out the global financial crisis, the country’s central banker said yesterday.
Fund Managers Brace for a Difficult 2009
Recovery in equity markets likely only late next year or in 2010: poll
Chilean Wines ‘Suffer’ to Thrive
A decade ago, the wineries of Australia and New Zealand were gaining huge chunks of the global wine market. Yet in the sweepstakes for the next decade, I’m putting my money on Chile turning out excellent wines smack in the affordable US$8-15 range. It’s no wonder that US imports of Chilean wine increased 13 percent last year to US$207 million.
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