Think Positive

Friday, 14 November 2008

Hong Kong in recession

Hong Kong slipped into recession in the third quarter as the global economic slowdown took its toll on the financial hub, government figures showed on Friday.

Labour chief disappointed with DBS’ sudden retrenchments

Labour chief Lim Swee Say has expressed his disappointment in the sudden decision by DBS Bank to cut 900 jobs.

Nina Wang and fung shui master were lovers, claims defence

The legal team of fung shui master Tony Chan Chun-chuen has claimed that their client and late billionaire Nina Wang Kung Yu-sum were romantically involved for 14 years.

Private Equity and QFII Returning to A-Share Market

The A-share market has shrunk drastically, and private equity funds are giving up pre-IPO, switching to acquiring listed company shares through bulk trading. This highlights the reality that China at present lacks long-term investment opportunities. An appropriate monetary policy might lead more such funds to return to the stock market in the short term.

As factories close, Chinese workers suffer

Wang Denggui, father of three, arrived more than a year ago in the palm-lined streets of this southern Chinese town with a single goal: toil in a factory to save for his children’s school tuition.

China faces difficulties in improving quality of rural education

One of the difficulties in improving the quality of rural education is in finding and retaining qualified teachers.

China milk inspectors beaten over tough checks

Two milk inspectors for a major China dairy firm were severely beaten in an attack blamed on suppliers angry at tough new safety checks following a tainted milk scandal, state media said Friday.

Former Taiwan leader's son questioned

Prosecutors questioned the son and daughter-in-law of jailed former Taiwanese President Chen Shui-bian in connection with his graft case Friday as his lawyer confirmed he was continuing his hunger strike into a third day.

Judge: Wife who enjoyed fruits of husband’s corruption can be deemed as having knowledge of the crime

Shanghai may axe F1

Shanghai is considering axing the loss-making Formula One Grand Prix after its contract runs out in 2010, a senior official told AFP.

Worst May Be Yet to Come for Citigroup

After a year of red ink, a months-long plunge in its share price and a $25 billion government rescue, you might think the worst was over for Citigroup.

Europe is in recession after bank meltdown

Europe has fallen into its first recession in 15 years, after the global banking crisis and a decline in exports brought growth to a shuddering halt.

Investors pull $31.8B out of stock funds

Last week’s flow of cash back into funds reverses and nervous investors pull billions out of stock, bond, and hybrid funds after Dow hits a 5 1/2-year low.

River Valley condo Luma relaunches with prices halved

Units going for $1,450 psf, down from $2,800 psf at launch last year

Deng’s call for ‘three links’ with Taiwan answered

Last week’s visit to Taiwan by Chen Yunlin, China’s chief cross-straits negotiator, is hugely significant. Four agreements were signed with his Taiwan counterpart, Chiang Pin-kung, providing for daily cross-strait flights, direct cross-strait shipping, better postal services and food safety. Almost three decades after Deng Xiaoping’s call for the establishment of the ‘three links’, meaning direct postal, transportation and trade links, it has finally been realised.

GM collapse could set off chain reaction

Advocates for US carmakers are warning that the collapse of the Big Three - or even just General Motors (GM) - could set off a catastrophic chain reaction in the economy, eliminating up to three million jobs and depriving governments of more than US$150 billion in tax revenue.