2010/11/27
2010/11/19
"Vijayawada" from Bloomberg Businessweek
"A vital railroad junction on the East Coast and a big center for food processing, cotton, and auto bodies."
"Deep deflation the downside of gold standard's discipline" from South China Morning Post
"Enthusiasts like the notion of a gold standard because they believe it would enforce monetary discipline on incontinent central banks addicted to printing money."
"In short, a return to some form of gold standard would almost certainly be deflationary, and deflation kills economic growth. Instituting a gold standards now would be disastrous, whatever the goldbugs say."
"In short, a return to some form of gold standard would almost certainly be deflationary, and deflation kills economic growth. Instituting a gold standards now would be disastrous, whatever the goldbugs say."
"Lombard Odier's Stéphane Monier agrees, lauding the solidity of regional sovereign debt was aided by export-focused policies "aimed at reducing currency volatility" and preventing "strong appreciation in their currencies", coupled with strong foreign currency reserves." from South China Morning Post
"Fastest groth is expected to be in Asia thanks to China's rapidly growing middle class, who have greater disposable income for holidays." from South China Morning Post
"In anticipation of this development, the group, earlier this year, relocated its regional headquarters to Singapore from Sydney."
"Bulgaria, Russia set up up gas joint venture" from South China Morning Post
"Bulgaria and Russia have set up a joint venture to build and operate a stretch of the South Stream gas pipeline. South Stream Bulgaria, equally owned by Bulgarian Energy Holding and Gazprom, will plan, build and operate the Bulgarian stretch of the 3,600km pipeline to carry Russia gas to Europe through a 900km link under the Black Sea, bypassing the major gas supply route in Ukraine."
"US bogeyman a mystery to the Yemenis he lives among" from South China Morning Post
"Even his group, al-Qaeda in the Arabian Peninsula, is scoffed at by many as an invention, a ploy by Washington and Yemeni President Ali Abdullah Saleh to advance larger agendas."
"Despite these legal manoeuvres, his website and eloquent missives, Awlaqi, known for public relations savvy and quoting from the Koran and Charles Dickens, drew barely a hint of recognition from shopkeepers, waiters and computer engineers along Sanaa's streets and alleys."
"Despite these legal manoeuvres, his website and eloquent missives, Awlaqi, known for public relations savvy and quoting from the Koran and Charles Dickens, drew barely a hint of recognition from shopkeepers, waiters and computer engineers along Sanaa's streets and alleys."
"China to play role in General Motors' IPO" from South China Morning Post
"This is the first time Chinese government banks have taken part in a large US-issued offering, according to tracking firm Dealogic. The banks are listed as co-managers in the offering, meaning they will sell a portion of the new shares.
Chinese carmaker SAIC, GM's partner in China, is finalising plans to buy a roughly 1 per cent stake in the flotation, worth about US$500 million, The Wall Street Journal reported on Friday. SAIC is owned by the Shanghai city government.
Chinese carmaker SAIC, GM's partner in China, is finalising plans to buy a roughly 1 per cent stake in the flotation, worth about US$500 million, The Wall Street Journal reported on Friday. SAIC is owned by the Shanghai city government.
"New York's famous yellow cabs set for an all-purpose makeover" from South China Morning Post
"An icon of the urban landscape, the humble yellow cab is set to undergo an unprecedented facelift - perhaps the biggest change to the city's street aesthetic since licensed cabs were required to be painted yellow in 1970."
"All three competing designs, submitted by Ford, Nissan and the Turkish manufacturer Karsan, have the rounded, bulky appearance of a minivan. Gone is the cramped legroom of a hybrid car: these interiors feature generously sized back seats and, in Karsan's case, a rear-facing drop seat to encourage conversation among passengers (that, or motion sickness)."
"All three competing designs, submitted by Ford, Nissan and the Turkish manufacturer Karsan, have the rounded, bulky appearance of a minivan. Gone is the cramped legroom of a hybrid car: these interiors feature generously sized back seats and, in Karsan's case, a rear-facing drop seat to encourage conversation among passengers (that, or motion sickness)."
"Fast trains, integrated hubs point to future of transport in HK, mainland" from South China Morning Post
"Along the journey, most of the landscape was urban with many buildings or factories. In the sparse rural areas, pockets of construction activity were visible. This suggests that in coming years, the corridor between Shanghai and Hangzhou will become a common urban zone merging both cities into one huge megacity in the Yangtze River Delta."
"It also seemed to me that what was on view in Shanghai was a foretaste of what we might expect when Hong Kong's high-speed railway begins operating in 2016.
A high-speed train journey from Hong Kong to Guangzhou will then be similar to an MTR train ride from Hong Kong Island to Kowloon.
This will increase the integration between Hong Kong and the Pearl River Delta. However, Shanghai has six-year headstart over Hong Kong in this integration process."
"It also seemed to me that what was on view in Shanghai was a foretaste of what we might expect when Hong Kong's high-speed railway begins operating in 2016.
A high-speed train journey from Hong Kong to Guangzhou will then be similar to an MTR train ride from Hong Kong Island to Kowloon.
This will increase the integration between Hong Kong and the Pearl River Delta. However, Shanghai has six-year headstart over Hong Kong in this integration process."
"While both Hong Kong and the eastern Pearl River district are noted for mountainous scenery, Guangzhou is overwhelmingly flat - with one exception." from South China Morning Post
"Its highest peak is Mo Sing Leng ("touching the stars range"), a moniker that will be familiar to Hong Kong people as this is the Chinese name for Mount Davis. Cantonese settlers who moved to Hong Kong Island after the British arrived in 1841 appropriated the name from the original at Baiyun, in much the same way that settlements in Australia, New Zealand and other colonies were named after British originals by new arrivals."
Cable-car construction has become a growth industry in recent years, thanks to the boom in domestic tourism. New routes continue to open in other popular mountain resorts, such as Huangshan and Zhangjiajie. Baiyun's cable cars have been in operation for years - children love them."
Cable-car construction has become a growth industry in recent years, thanks to the boom in domestic tourism. New routes continue to open in other popular mountain resorts, such as Huangshan and Zhangjiajie. Baiyun's cable cars have been in operation for years - children love them."
"Another winter, another fuel crisis" from South China Morning Post
" "Diesel and coal seem two separate issues. But on a deeper level, they are connected and are two dimensions of the same problem. The economy could have become less coal-dependent had there been a more serious reform of the national grid's monopoly," said Han Xiaoping, head of the independent energy research body China5e.com."
"New price controls set to fight inflation" from South China Morning Post
"Fearing the political impact of the worst inflation in a decade, Beijing is set to announce price controls and launch a new crackdown on hoarding and speculation in agricultural products."
"Latin America braces for bubbles as funds flow in" from South China Morning Post
"Foreign capital flows last year and this year will likely be Latin America's highest for any tow-year period since 1993-94, the World Bank says.
That time around, the boom in foreign investment immediately preceded currency crises in Mexico and Argentina after inflows reversed.
"It feels like a bubble, it smells like a bubble and it probably is," RBS said in a report on emerging market inflows."
That time around, the boom in foreign investment immediately preceded currency crises in Mexico and Argentina after inflows reversed.
"It feels like a bubble, it smells like a bubble and it probably is," RBS said in a report on emerging market inflows."
"India's building boom sees lack of engineers" from South China Morning Post
"The World Bank estimates that the country's urban population will grow from 331 million to 500 million by 2017, putting massive pressure on civic infrastructure."
"India fears Beijing's dams will harm Brahmaputra" from South China Morning Post
"Xinhua reported at the weekend that hydroelectrical engineers had blocked the middle reaches of the Yarlung Zangbo River on Friday, paving the way for construction of the first dam on the waterway, which originates in the Tibetan plateau and flows into India as the Brahmaputra."
"The damming of the Yarlung Zangbo has long been a source of dispute and tension between the two countries, as New Delhi fears Beijing's dams on the upper reaches would harm downstream flow and put it at a strategic disadvantage in the management of the waterway."
" "The Zangmu plant is only the beginning of a new dam-building frenzy, and plans have been made to build dams on virtually every major river and its tributaries on the Tibetan plateau," said Fan Xiao, a geologist based in Sichuan."
"The damming of the Yarlung Zangbo has long been a source of dispute and tension between the two countries, as New Delhi fears Beijing's dams on the upper reaches would harm downstream flow and put it at a strategic disadvantage in the management of the waterway."
" "The Zangmu plant is only the beginning of a new dam-building frenzy, and plans have been made to build dams on virtually every major river and its tributaries on the Tibetan plateau," said Fan Xiao, a geologist based in Sichuan."
"China's share of the world airliner fleet will grow from the current 8 per cent to 14 per cent over the next 20 years." from South China Morning Post
"This means the nation will need 4,912 planes by 2029, compared to last year's 1,465, according to the country's leading aircraft maker."
"Reliability issues mar satellite industry" from South China Morning Post
"China had just successfully launched its second lunar probe, the Chang'e-2, which is orbiting the moon, and only days later the space community celebrated the launch of the sixth satellite of an eventual 35 that will form a home-grown satellite navigation and positioning network aimed at rivalling the US-made Global positioning System.
It seems a good time for the Chinese space industry."
"So, not only is China offering satellites at a cheaper price than their Western rivals, it is also offering countries the loans they need to cover almost the entire cost of the projects.
When the deal to manufacture and launch Pakistan's first communication satellite was announced in August 2008, with a projected cost of US$212 million, news also broke that the two countries had simultaneously signed a deal for a US$200 million construction loan. Likewise, when the Bolivian deal was announced in April this year, media around the world reported that a Chinese loan would cover 85 per cent of the US$300 million project's costs, with the rest of the funding to be provided by the Bolivian government."
It seems a good time for the Chinese space industry."
"So, not only is China offering satellites at a cheaper price than their Western rivals, it is also offering countries the loans they need to cover almost the entire cost of the projects.
When the deal to manufacture and launch Pakistan's first communication satellite was announced in August 2008, with a projected cost of US$212 million, news also broke that the two countries had simultaneously signed a deal for a US$200 million construction loan. Likewise, when the Bolivian deal was announced in April this year, media around the world reported that a Chinese loan would cover 85 per cent of the US$300 million project's costs, with the rest of the funding to be provided by the Bolivian government."
"Chaos at mainland airports caused by unidentified flying objects is being blamed on an increase in so-called black flights." from South China Morning Post
"Unauthorised flights by private aircraft have become a common annoyance as the country's growing number of billionaires buy planes and helicopters to flaunt their wealth."
"City residents plan to spend less" from South China Morning Post
"More than half of the families in seven cities, including Beijing and Shanghai, will make plans to consume less in the coming year as they felt greater stress in their daily lives today compared to last year, according to a recent survey from China's Horizon Research Consultancy Group, the people's Daily online reports."
"First, there shoud be a high degree of synchronisation between the economic cycles in Hong Kong and the mainland." from South China Morning Post
At present, Hong Kong's economic cycle is more affected by flows of trade between mainland and the advanced economies, rather than domestic demand on the mainland. As a major international financial centre, Hong Kong's economic cycle is to a large extent influenced by the global economic and financial market conditions.
"As I set out by boat into the dazzling blues and greens of the Pacific, I realise this beatiful country is defined, more than anything, by the ocean that surrounds it." from South China Morning Post
"Ideally, I would like to spend months exploring the entire archipelago." from South China Morning Post
2010/11/18
"Matisse's flirty 1942 portrait of an Italian countess decked out in a blue tutu, Danseuse dans le fauteuil, sol en damier, fetched US$20.8 million." from South China Morning Post
"The work had appeared twice at auction at Sotheby's in London in the past decade, fetching US$7.5 million in 2000 and US$21.7 million in 2007.
Another Matisse, the 1934 portrait of model Titine Trovato that failed to sell at Sotheby's in November 2008, against an estimate of US$18 million, was offered again last week with a lower estimate of US$8 million. It didn't get a single bid."
Another Matisse, the 1934 portrait of model Titine Trovato that failed to sell at Sotheby's in November 2008, against an estimate of US$18 million, was offered again last week with a lower estimate of US$8 million. It didn't get a single bid."
"Chinese vase found in house clearance fetches HK$645m" from South China Morning Post
"A Qianlong-period vase that was discovered during a routine house clearance in London and was put up for sale in a small provincial auction house has sold for an astonishing £51.6 million (HK$645.20 million), the highest sum ever paid at auction for any Asian artwork and 40 times the presale estimate."
"After a news report noted the presence of the vase in the sale, dealers travelled to Bainbridges from across Asia. Others were in town for Asian Art in London's schedule of gallery exhibitions, shows and lectures."
"Last month, another 18th-century imperial vase was bought by collector Alice Cheng for a record HK$252.7 million at Sotheby's Hong Kong."
"It would have resided "no doubt" in the royal palace and was fired in the imperial kilns. The auctioneer said it was a mystery how the 40cm high piece ended up in London, where it was recently discovered in the suburb of Pinner. Its provenance was described simply as belonging to an English family collection, probably acquired during the 1930s."
"After a news report noted the presence of the vase in the sale, dealers travelled to Bainbridges from across Asia. Others were in town for Asian Art in London's schedule of gallery exhibitions, shows and lectures."
"Last month, another 18th-century imperial vase was bought by collector Alice Cheng for a record HK$252.7 million at Sotheby's Hong Kong."
"It would have resided "no doubt" in the royal palace and was fired in the imperial kilns. The auctioneer said it was a mystery how the 40cm high piece ended up in London, where it was recently discovered in the suburb of Pinner. Its provenance was described simply as belonging to an English family collection, probably acquired during the 1930s."
"The Asia Art Archive was born out of Hsu's frustration." from South China Morning Post
"When she struggled to find reference material on Chinese contemporary art while studying for her MA in London she decided the only way to address that problem was to set up an archive herself."
"Why does it have to be static collection that's waiting for research students to open the book before it gets activated? Why can't it get activated through other ways? Hsu says."
" "We have a 10-year plan, we've identified individual archives across the region and were speaking to different organisations and individuals, and we are slowly going to bring all these materials together," she says."
"Why does it have to be static collection that's waiting for research students to open the book before it gets activated? Why can't it get activated through other ways? Hsu says."
" "We have a 10-year plan, we've identified individual archives across the region and were speaking to different organisations and individuals, and we are slowly going to bring all these materials together," she says."
2010/11/17
"Moutai winery to relocate 16,000 neighbours to save water source" from South China Morning Post
"Moutai, the most famous brand of mainland liquor, plans to move more than 16,000 residents from its winery site in Huairen city's Maotai town, Guizhou province, by 2015 to a new town in the city."
"Wine frenzy grips Hong Kong" from South China Morning Post
"People like the fact that the wine is here in Hong Kong. You just go and pick it up."
"Liu Xuebiao, a merchant from Shenzhen, said wine he buys in Hong Kong for about US3$ a bottle can be sold on the mainland for 300 yuan, more than 15 times what he paid"
"Elswood, of Christie's, said the burgeoning wealth is "inflating a bubble" in wine. "When you're paying four, five times or even more than the reference price, then you have to seriously question the market knowledge of that buyer.
At Sotheby's April auction in Hong Kong, a 12-bottle lot of Chateau Latour 1982 fetched HK$338,800 or US$43,707. About two weeks later, New York-based Tribeca Wine Merchants ran a newspaper advertisement offering the same wine for US$2,250 a bottle.
He, strolling around the Hong Kong fair with a glass of wine, said: "Westerners drink wine slowly as a way of enjoying life. Just look around you. Mainland Chinese tilt the glass and pour it straight down the throat."
"Liu Xuebiao, a merchant from Shenzhen, said wine he buys in Hong Kong for about US3$ a bottle can be sold on the mainland for 300 yuan, more than 15 times what he paid"
"Elswood, of Christie's, said the burgeoning wealth is "inflating a bubble" in wine. "When you're paying four, five times or even more than the reference price, then you have to seriously question the market knowledge of that buyer.
At Sotheby's April auction in Hong Kong, a 12-bottle lot of Chateau Latour 1982 fetched HK$338,800 or US$43,707. About two weeks later, New York-based Tribeca Wine Merchants ran a newspaper advertisement offering the same wine for US$2,250 a bottle.
He, strolling around the Hong Kong fair with a glass of wine, said: "Westerners drink wine slowly as a way of enjoying life. Just look around you. Mainland Chinese tilt the glass and pour it straight down the throat."
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