Saturday, 7 February 2009
Economic Shift Rouses Defunct Steel City
To cool the economy four years ago, the government closed private Tieben Steel and detained its founder. Times have changed.
Nenner Cycle Signals Entry Point
A few entry points as the market might rally for a limited time, with Charles Nenner, Charles Nenner Research Center president
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Ackerman's Attack
Rep. Gary Ackerman (D-NY) lets SEC officials know what he thinks about their lack of oversight in the alleged Madoff Ponzi scheme.
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Video
Is Lexicon’s RTO with Zenna really a good deal?
On Wednesday, Singapore- based publisher Lexicon Group said it would pay $160 million for Zenna Overseas Ltd, which is engaged in commercial property development in China.
Will investor confidence in hedge funds return?
Value Partners’ founder says most small funds won’t survive the crisis
Smart of US to avoid showdown with China
Washington has backed away from a confrontation with China after Treasury Secretary Tim Geithner said during confirmation hearings that ‘President Obama - backed by the conclusions of a broad range of economists - believes that China is manipulating its currency’.
MM Lee explains Singapore’s long-term investment horizon
Singapore’s Minister Mentor Lee Kuan Yew has said the country has over S$100 billion in reserves today, unlike the 1960s when the country first gained independence.
China’s official figures obscure sharp decline
Plunging exports. Factory closures. More than 20 million people thrown out of work. Official data showing that China’s economy is cooling but still growing strongly obscure what economists say is a sharp recent decline that has inflicted obvious pain.
Remaking ‘Made in China’
The key to success, he says, is creativity. “Cheap price is no longer a weapon.”
China’s Unemployment Swells as Exports Falter
Hundreds of thousands of migrant workers are returning here earlier than usual from their home villages after the Chinese New Year holiday. Lugging their belongings in plastic sacks and cardboard boxes, they are hoping to find increasingly scarce jobs. Many will fail.
Businesspeople named as defendants in Chen case
Prosecutors yesterday named four businesspeople as defendants in the money-laundering case involving detained former president Chen Shui-bian (陳水扁) and his family.
Perak tussle sparks riot
Malaysian police fired tear gas on Friday at supporters of an opposition leader who was forcibly removed from his office when he refused to cede his post as chief minister in a political tussle over which party controls the state’s legislature.
Friday, 6 February 2009
Man accused of Japan’s biggest scam arrested
His firm allegedly operated scheme that conned people of $2b
ERA told to return $257,000 to couple
ERA Senior agent Mike Parikh got his wife Madam Sadiq (above) to buy a flat sold by his subordinate Mr Ang (below). The flat was resold for a hefty profit within weeks.
WHAT THE JUDGE SAID: Justice Choo Han Teck said that Mr Parikh and Mr Ang were ethically wrong and in breach of contract by creating a conflict of interest between their client and themselves.
Police will not become tool for petty politics, says Shanmugam
He said the high level of trust between the police and the people is an asset that should not be taken lightly.
Novel idea to tackle vice
The British are considering a novel law to curb prostitution by making it a crime for a man to pay for sex with a prostitute who is working under a pimp.
‘Rarely seen’ drought ravages China
A farmer with a rape plant that has withered due to frost and the lack of water in Henan province. China's state relief agency has declared a 'Level 2' emergency and ordered urgent channelling of water from well-supplied regions to the arid provinces.
Dilemma over law and tradition
The stand-off between Perak Menteri Besar Mohd Nizar Jamaluddin and the Sultan Azlan Shah boils down to a squabble over a strict interpretation of the state Constitution and tradition, experts say.
A Right Royal Affair in Perak
Sultan Azlan Shah gave the Menteri Besar an ultimatum: resign, or his position would be considered vacant.
PCCW saga: Investors should go along for ride
Mr Li wants to own the telco outright, possibly with a view to selling it later, but shareholders fear being short-changed.
Property agents exit in droves but...
No dearth of recruits though; housewives and those fearful of losing jobs queuing up
China’s Bond Market: A Glass Half Full
Investors are paying more attention to China’s bond market, which is poised for growth thanks to new policies and the financial crisis.
Shanghai Officials Granted Housing Subsidies
Shanghai officials were granted housing subsidies in the midst of a real estate market downturn. The government denies that it distributed such subsidies.
China Strategic Oil Reserves Starts Operation
With international oil prices down, China has announced plans to build eight new oil reserves.
China Strategic Oil Reserves Starts Operation
With international oil prices down, China has announced plans to build eight new oil reserves.
Yunnan farmers benefit from growing coffee-drinking culture in China
In tea-loving China, having a cuppa in a gourmet coffee lounge is fast becoming a symbol of status for the young and affluent in the cities.
The world’s most expensive colleges
With a global recession unfolding, it’s tough to come up with funding for college these days, perhaps even more so if your destination is one of the world’s most expensive universities.
Geely denies plans to buy Volvo
Mainland car manufacturer Geely Automobile Holdings has no plans to buy the Volvo car brand from Ford Motor, a Geely spokesman said on Thursday.
Ford talks Volvo sale to Geely
Ford Motor Co, seeking to raise cash to avoid a federal bailout, is in talks to sell its Volvo Car unit to China’s Geely Automobile Holdings Ltd, according to three people familiar with the discussions.
Thursday, 5 February 2009
China’s Military Power
Since the 1990s, China has dramatically improved its military capabilities on land and sea, in the air, and in space.
PR, Accountants, Auditors Channel to Official Corruption
Public relations, consultants, industry organizations and accountants are becoming a new channel for official corruption in China, according to a report abstract released Thursday by the Chinese Academy of Social Sciences (CASS).
Dam’s possible role in Sichuan quake is studied
Pressure from a dam, its reservoir’s heavy waters weighing on geologic fault lines, may have helped trigger China’s devastating earthquake last May, some scientists say, in a finding that suggests human activity played a role in the disaster.
20 Million Migrant Workers Challenge Social Stability
130 million migrant workers in China who lost their jobs will increase the possibility of rural land disputes and hurt the income of farmers.
Securities: Financial Innovation Drifting into Doldrums
China’s enthusiasm for proposed financial innovations has waned considerably in the months since the stock market turned bearish.
Power: Stymied Coal Talks Point to Power Reform
China’s power sector, after riding a reform roller coaster for years, faces new challenges as coal talks stall over price controls.
Holding U.S. Dollar Still Safe
None of any other major currencies is believed to perform better than the dollar in 2009
China’s Lending Topped 1 Trillion Yuan in January
Banks started cranking open the loan spigot in late 2008, although experts say the enthusiastic credit pace won’t last for long.
Hands Off China’s Cyclical Property Market
Government intervention in the sagging property market, regardless of motive, sends the wrong signals and delays reform.
Chinese customers flock to UK Credit Crunch bargains
Forget coming to Shanghai to pick up a cheap knock-off handbag, the latest fashion is for middle-class Chinese to head to the UK to pick up the real thing at knock-down prices.
In the U.K., the combined effect of lower taxes on luxury goods and the plummeting British pound have meant that even full-priced items are effectively 50% off to Chinese shoppers.
Many who've recently travelled to the U.K. report that branches of Louis Vuitton now employ Mandarin speaking sales assistants and, at the Manchester store, customers are restricted to a maximum of 5 handbags per customer.
In the U.K., the combined effect of lower taxes on luxury goods and the plummeting British pound have meant that even full-priced items are effectively 50% off to Chinese shoppers.
Many who've recently travelled to the U.K. report that branches of Louis Vuitton now employ Mandarin speaking sales assistants and, at the Manchester store, customers are restricted to a maximum of 5 handbags per customer.
McDonald’s cuts China prices
MCDONALD’S Corp, the world’s largest fast-food chain, has cut some prices by as much as a third in China where once booming economic growth has slumped amid the global financial crisis.
Garment, textile export tax rebate raised to aid textile sector
China will increase the tax rebate rate for textile and garment exports from 14 percent to 15 percent, an executive meeting of the State Council (Cabinet) announced Wednesday.
Taiwan ex-leader's sister-in-law pleads guilty to money laundering
The sister-in-law of former Taiwan president Chen Shui-bian pleaded guilty on Thursday to money laundering charges in the latest twist in a long-running corruption case also implicating Chen.
U.S. Housing Slump Has ‘Just Begun,’ Says Forecaster Talbott
His investment advice for this prolonged recession: Hang on to cash and invest in gold or Treasury Inflation-Protected Securities, or TIPS. If he had to invest in stocks, he would put his money in China.
Shantou’s Building Binge
An airport is among the projects planned by one city rushing to grab a slice of Beijing’s stimulus cash
China jails official who built Shanghai business hub
The official who oversaw the creation of the glitzy Lujiazui business district in Shanghai’s Pudong area has been sentenced to life in prison for accepting bribes, the China Daily said on Tuesday.
Why the Dow is holding at 8,000
Closer examination, however, reveals that the bounces around the 8,000 mark are simply a function of the way the index is constructed. Because the Dow is price-weighted, it is also inherently flawed.
Accepting the End of the US Empire
The US can still be an economic superpower and have much influence in the world, but the days of being a globe-girdling military power are over. The US foreign policy elite just hasn’t accepted it yet, notes Ivan Eland.
Real Estate Industry: Moves to the Basement
Property developers saddled with overdue loans, angry customers and unfinished buildings hope to survive 2009. But many won’t.
Bank: Slowdown Tests Credit Control
Pressured by policymakers to support GDP growth by writing loans, China’s market-oriented bankers are walking the line.
Interesting comments from John Mauldin’s weekly commentary on the Bernie Madoff Ponzi Scheme
The fact that Madoff will spend the rest of his life in jail in no way compensates for the loss of so many people whose lives have been seriously impacted. It is just so terribly sad.
California Pension Funds Close To Bankruptcy
The two largest pension funds in California, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), have lost billions of dollars in value. Hundreds of thousands of retiring state employees and teachers now face the stark choice of accepting much reduced pension checks or working past their retirement age.
Dr. Chan Newsletter
This year is the Year of Ox. I believe everybody’ is wishing a bull market would come along. Regrettably however, when you look back to the 3 previous Oxen years, the market started bullishly but ended up bearishly.
我對佛陀說.....
我對佛陀說：讓我所有朋友永遠健康快樂！
佛陀說：只能四天！
我說 : 好 ! 春天、夏天、秋天、冬天。
佛陀說：三天。
我說：好，昨天、今天、明天。
佛陀說：不行，兩天。
我說：好，白天、黑天。
佛陀說：不行，就一天！
我說：好！
佛陀茫然問道：哪一天？
我說：在我所有朋友活著的每一天！
佛陀笑了……說：以後你所有朋友將天天健康快樂
看到此信息的人，請轉發給朋友，祝願你所有的朋友都是快樂健康
天氣多變...加倍保重！( 把溫暖傳下去哦 )
Rain-battered Australian state on snake alert
Rain-battered residents in northeastern Australia were on alert Wednesday for snakes in their bathrooms and crocodiles in the road following repeated storms that have sent local wildlife in search of dry land or a safe haven.
Wednesday, 4 February 2009
Famous Quotes from Our Multi MILLION $ Leaders!
Here’s what MM Lee said in April 2007:-
...you have to pay the market rate or the man will up stakes and join Morgan Stanley, Lehman Brothers or Goldman Sachs and you would have an incompetent man and you would lost money by the BILLIONS.....!!!!!!
...you have to pay the market rate or the man will up stakes and join Morgan Stanley, Lehman Brothers or Goldman Sachs and you would have an incompetent man and you would lost money by the BILLIONS.....!!!!!!
Obama to Limit Executive Pay at Companies Getting Aid
President Barack Obama will announce today that he’s imposing a cap of $500,000 on the compensation of top executives at companies that receive significant federal assistance in the future, responding to a public outcry over Wall Street excess.
‘Buy American’ plan could cost US jobs
‘Buy American’ provisions under consideration in Congress as part of a huge economic stimulus bill could create only 1,000 new steel industry jobs and might cost as many as 65,000 across a number of sectors, a new study said on Tuesday.
Funds Turn To Asian Stocks, Favour China
Bonds continued to be the most favoured asset class by global asset managers, but January was a month when investors began to increasingly favour Asian equities, with Chinese stocks leading the way.
Fund Manager Says More Write Off Yet to Come
Investors hoping to see an economic improvement in 2009 may be in for a rude awakening if one fund manager is to be believed.
China Outlines Plan to Address Economic Troubles
A Chinese government official has outlined new principles to stem the growing unrest from an economic downturn that has left 26 million migrant workers looking for jobs.
Violent unrest rocks China as crisis hits
The collapse of the export trade has left millions without work and set off a wave of social instability
Singapore, Investor in UBS, Citigroup, Says Worst Yet to Come
Singapore, whose state-owned funds invested about $24 billion in UBS AG, Citigroup Inc. and Merrill Lynch & Co. in the past 14 months, said the worst of the credit crunch is yet to come.
Cadres told to stand up to unrest
Senior Communist Party officials told cadres yesterday to show courage and face the public when dealing with social unrest, rather than hide behind the police.
The Next Catastrophe
Think Fannie Mae and Freddie Mac were a politicized financial disaster? Just wait until pension funds implode.
Hedge funds still bleeding
Dearth of positive returns could further dampen wealthy individuals’ appetite for hedge funds, triggering massive redemptions.
Singapore: The worst is yet to come - UBS
We have lowered our growth forecast for Singapore to -3.5%. Singapore's economy is under attack on several fronts. While the government announced a massive economic stimulus package with its 2009 budget, we think it is unlikely to prevent a major economic contraction.
The Monetary Authority of Singapore has become more likely to announce a one-off devaluation of the Singapore dollar at its next meeting in April.
The Monetary Authority of Singapore has become more likely to announce a one-off devaluation of the Singapore dollar at its next meeting in April.
Tuesday, 3 February 2009
Can China avoid US pre-Depression errors?
As the recognition grows around the world of the eerie similarities between China last year and the United States in 1929, it is worth considering why the Depression in the US was so severe in order to understand some of the risks the mainland might face.
I've had the G-shot...and YES, YES, YES, my sex life has never been better
‘And so a fortnight ago, Caroline became the first British woman to have the ‘G-shot’, also known as the ‘orgasm jab’ - an £800 non-surgical treatment that enhances a woman’s sexual experience by boosting the G-spot, the ultra-sensitive area of tissue that can hold the key to happy love-making.
UK Laser Vaginal Rejuvenation Centre
UK Laser Vaginal Rejuvenation Centre
Are hotties naughtier?
The beautiful woman: A cheat in the bedroom and unscrupulous in the boardroom?
Qualified on paper, but clueless about etiquette
Paper qualifications may not be all to landing a job.
Changing your fortune is good fortune for him
Geomancer Danny Cheong says those who are affected by the recession are looking to fengshui to improve their situation.
Pets face tough times, too
The economic downturn is causing more pet owners in the Klang Valley to give up their pets.
Hyundai, Kia target China sales
Hyundai and Kia outperformed the industry average by adding new, smaller models.
UK Shoe Thrower Charged
Chinese Premier Wen Jiabao’s European tour ended dramatically on Monday when a protester hurled a shoe at him as he gave a speech at Britain’s Cambridge University.
Monday, 2 February 2009
Head to Geylang for a Gay Time
Building on its history of prostitution and triads, this red light district has evolved into a mini United Nations of sorts, says a Malaysian writer.
No refund for $250k investment
These are retirees who bought failed structured products, but not directly from banks.
New Year, New Hurdles for Private Equity
China’s golden years for private equity funds have passed. But PE is still in the game, and some funds may be poised for profit.
New Year, New Hurdles for Private Equity
China’s golden years for private equity funds have passed. But PE is still in the game, and some funds may be poised for profit.
Recession Can Change a Way of Life
As job losses mount and bailout costs run into the trillions, the social costs of the economic downturn become clearer. The primary question, to be sure, is what can be done to shorten or alleviate these bad times. But there is also a broader set of questions about how this downturn is changing our lives, in ways beyond strict economics.
Why the Sting of Layoffs Can Be Sharper for Men
Mr. Steuer, 43, was recently laid off from his job at a small research business. “It’s hard not to imagine yourself as the breadwinner,” he said. “A lot of your ego eggs are in the job basket. I can’t shake the psychology that I’m supposed to provide.”
Wine lovers are drinking cheaper or buying less
“People have money but they’re afraid about the future,” said Paul Hayashi, California sales representative for Grgich Hills Estate, whose Napa Valley wines retail for US$30 to US$135 a bottle. “When the mortgage thing hit, it was a sharp drop.”
Few glimmers of hope as gloom gets deeper
The question facing investors as they enter the first week of February is what will it take to change the stubborn trends of global financial markets.
Coca-Cola to drop ‘Classic’ label in U.S.
After 24 years, one of the most famous blunders in marketing history is quietly coming to an end.
Better answers sought on banks’ use of aid
Banking institutions that are benefiting from the $700 billion U.S. government rescue program for their industry should be pressed to better explain what they are doing with the money, according to the Government Accountability Office, an investigative arm of Congress.
Bear market gives investors chance to regroup
Individual investors can’t do much to improve the miserable performance of the stock market, but they may be able to help their own portfolios.
China’s Government Warns 2009 to be “the Toughest” Year since 2000
The lingering global financial crisis and the slowdown of the world economy had exerted an increasingly negative impact on the Chinese economy, said the first document of the year issued jointly by the State Council and the Central Committee of the Communist Party of China.
China Pledges Rural Help
China’s 750 million-strong farming population faces a tough 2009, the government warned on Sunday, vowing price support, land controls and curbs on imports to shore up flagging rural incomes and ward off unrest.
Sunday, 1 February 2009
Yangtze Delta: Begins its Tough Transition
As export markets skid, companies and leaders in Shanghai and nearby provinces are being forced to make necessary changes.
Investment: CIC Sovereign Fund with a Reputation at Stake
China Investment Corp. has earned a reputation for investment clout and global reach. But can it build a name for success?
Aviation: Turbulence Turns Against China’s Airlines
With revenues falling and bailout requests rising, China’s struggling aviation sector may be due for an overhaul.
Chen’s Case Tests System
The long-running corruption case against Taiwan’s former president Chen Shui-bian is putting the island’s legal system to the test - one that some analysts say it is in danger of failing.
Making the Most of a Recovery
The U.S. economy will recover. It won’t recover anytime soon. It is likely to get significantly worse over the course of 2009, no matter what President Barack Obama and Congress do. And resolving the financial crisis will require both aggressiveness and creativity. In fact, the main lesson from other crises of the past century is that governments tend to err on the side of too much caution - of taking the punch bowl away before the party has truly started up again.
World Worries How U.S. Will Pay for Stimulus
Even as the U.S. Congress looks for ways to expand President Barack Obama’s $819 billion stimulus package, the rest of the world is wondering how Washington will pay for it all.
Obama Calls Wall Street Bonuses ‘Shameful’
President Barack Obama branded Wall Street bankers “shameful” on Thursday for giving themselves nearly $20 billion in bonuses as the economy was deteriorating and the government was spending billions to bail out some of the nation’s most prominent financial institutions.
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