2010/12/30
"Chinese officials last month told Russian Defence Minister Anatoly Serdyukov that they may resume buying major Russian weapons systems after a break of several years." from South China Morning Post
"China's lack of foreign military bases - it has insisted that it will not station troops abroad - limits its ships on long-term missions."
"Police drop iPhone plan" from South China Morning Post
"JIANGSU- Suzhou police have suspended a plan to buy iPhone 4s after an online posting about it attracted widespread internet criticism, the Oriental Morning Post reports. The police had planned to buy 32 iPhone 4s for use by officers and said they had lots of advantages over other equipment. A 32 gigabyte iPhone 4 sells for 5,999 yuan on Apple's official website."
"Hunting ground to reopen" from South China Morning Post
"The Yunxiugu Hunting Ground, the largest in Asia, will reopen to the public 10 years after it was closed because of ethical issues, dwindling business and tightened gun controls on the mainland, The Beijing News reports."
"Drunken official kills five teenagers while reversing car" from South China Morning Post
"Five teenagers were killed when they were struck by a car driven by drunken official in Henan province on Sunday night. It was the latest in a series of traffic accidents that stirred public outrage about lawbreaking officials. It occurred in Luoning county, Luoyang city, at 11.30pm. The county's post office chief, Gu Qingyang, who had been drinking alcohol, reversed his car into five of seven teenagers walking on the road, police said. The youngest killed was 13, police said. Gu was held for questioning."
"The number-crunchers on Wall Street are starting to crunch something else: the news." from South China Morning Post
"The development goes far beyond standard digital fare like most-read and e-mailed lists. In some cases, the computers are actually parsing writers' words, and sentence structure."
"But industry experts say the programs are also moving the markets. Last May, as Greece's financial crisis deepened, Wall Street computers seized on a news story with the word "abyss" in the headline and initiated sell orders."
"But industry experts say the programs are also moving the markets. Last May, as Greece's financial crisis deepened, Wall Street computers seized on a news story with the word "abyss" in the headline and initiated sell orders."
"Grass sprayed green - on orders" from South China Morning Post
"SHAANXI- Workers at a park in Shangluo spray-painted the grass green because they were told officials wanted to see green grass in winter, the Xian Evening News reports. People said the grass along a 4.2-kilometre-long road in the park had suddenly turned green, but the grass in other places in the park was yellow."
"Four die in expressway crash" from South China Morning Post
"Four people were killed when a van rear-ended another yesterday on the Guilin-Liuzhou Expressway in Yongfu county, China National Radio reports. Three people in one van died at the scene and the fourth died later."
" 'Burglars' held at home of 5o Cent" from South China Morning Post
"Jackson, whose hits include Candy shop, claimed this year that his wealth - including his mansion and an estimated US$400 million fortune - is not enough. "I used to equate success with my finances... I didn't have anything," he said."
"Man grows 10cm horn on head" from South China Morning Post
"JIANGXI- An 80-year-old man in Wuyuan county has grown a horn on his head for two years, Jxnews.com.cn reports. The horn is 10cm long and looks like a goat's horn. The man said that when it started grow, he felt a little pain. He said he used to have another horn, on the right side of his head, but accidentally broke it off in October. He said he wanted to have the remaining horn cut off, but could not afford the medical fee and had decided to leave it alone."
2010/12/28
"High China Interest Rates to Control Inflation" from Financial Feed
"State council's Development Research Center researcher Ba Shusong said the latest rate increase is aimed at reining in inflation expectations and narrowing the gap between gains in consumer prices and savings rates. The target is a one-year deposit rate of 2.75%, 4.55% for five years as opposed to November's 5.1%. Stocks' November Shanghai Composite Index went up to 11% benchmark selloff and jumped to 2.9% on Dec.13.
"Lufthansa, Munich to invest 650m euros in airport" from France 24
"German airline Lufthansa and Munich Airport said Wednesday they will invest heavily to raise capacity at the carrier's hub in southern Germany by more than 40 percent from 2015."
"NZ economy in surprise drop" from South China Morning Post
"The currency fell as rising risks of a recession bolster the case for central bank governor Alan Bollard to keep interest rates unchanged until at least the second quarter next year."
2010/12/27
"Increased cargo prompts South Port profit upgrade" from Otago Daily Times
"Greater cargo flows have prompted Southland port operator South Port to upgrade its profit forecast to the upper end of a range between $3.5 million and $3.9 million."
"This additional tonnage is attributable to strong Chinese log demand, higher than expected fertiliser application in the region and increased imports of stock food," he said."
"This additional tonnage is attributable to strong Chinese log demand, higher than expected fertiliser application in the region and increased imports of stock food," he said."
"3b yuan boost for coffee industry" from South China Morning Post
"Yunnan province plans to invest 3 billion yuan (HK$3.5 billion) in boosting its coffee industry in the coming decade, Xiong Xiangru, head of the Coffee Association of Yunnan, said yesterday. Most of the money will be used to improve soil quality, build research centres and increase training programmes."
"Woman held over fake banknotes" from South China Morning Post
"YUNNAN- Yuxi police have arrested a woman for the province's biggest counterfeit banknote case, Xinhuanet.com reports. Police said the woman paid 100,000 yuan in Guangzhou for high-quality fake banknotes with a total face value of more than four million yuan. Police detained the woman on December 2 as she drove back into the province with the fake notes."
"6b yuan note on show" from South China Morning Post
"GUANGDONG- The biggest denomination banknote in the world, which is six billion yuan, issued by the "Republic of China" has been on display in Guangzhou since Wednesday, the Beijing Daily reports. The banknote was issued in 1949 during a period of extreme inflation in Xinjiang."
"6m-yuan revamp for museum" from South China Morning Post
"HUNAN- The Wangcheng county geovernment is spending 6 million yuan to rebuild its museum to honour Lei Feng, a revolutionary hero of the 1960s who was born in the county, China News Service reports. The designer of the new museum will use pictures, paintings, cartoons and sculptures to represent the life of the soldier. The museum is scheduled to open on March 5."
"Christmas in Iraq: tedious" from News & Observer
"It's a life of extraordinary tedium, particularly for the support troops who seldom or never leave the base. Many, including Carpenter, work 12- to 14-hour days, seven days a week, their days relieved only slightly by workouts and meals."
2010/12/26
"China's central bank announced Saturday that it will raise the one-year lending and deposit interest rate for the second time this year, as the government continues its battle against surging prices." from Xinhua
"However, Lian said China only has room for two or three rate hikes, as higher interest rates would increase risks of "hot money" inflows due to a widening interest margin between China and the United States, which is likely to keep rates low."
"New Ryanair routes unveiled from Doncaster airport" from BBC
"From March, Ryanair is to start new flights to Faro in Portugal and Tenerife in the Canary Islands."
2010/12/25
"Why does the street sweeper focus on one part of town? from The World Newspaper
"It's better to have a preventative approach with the leaves than to be reactive, he added."
"The cost varies from year to year and is built into the budget for traffic safety and supplies as best it can be at $17,000, he said."
"The cost varies from year to year and is built into the budget for traffic safety and supplies as best it can be at $17,000, he said."
"Malaysia sets in motion economic transformation plans" from Channel NewsAsia
"It has identified over 130 projects, ranging from a mass rapid rail system, a new shopping district to a nuclear power plant."
"U.S. brings Silk Road to India" from The Hindu
"TAPI (Turkmenistan-Afghanistan-Pakistan-India gas pipeline project) is in actuality a Silk Road project connecting Central Asia to the West via Gwadar, which will make Pakistan the U.S.'s gateway to Central Asia."
"PBOC To Use Interest Rates, Variable Reserve Ratios To Curb Inflation" from Wall Street Journal
"China's "prudent" monetary policy stance in 2011 - a shift from the moderately loose stance it has been following - will also incorporate credit and liquidity controls, and market operations, Hu Xiaolian, vice governor of the People's Bank of China, said at a recent conference, according to a statement on the PBOC's web site Friday."
2010/12/22
"In 500 Billion Words, New Window on Culture" from New York Times
"With little fanfare, Google made a mammoth database culled from nearly 5.2 million digitized books available to the public for free downloads and online searches, opening a new landscape of possibilities for research and education in the humanities."
"Despite the frequent resistance to quantitative analysis in some corners of the humanities, Mr.Pinker said he was confident that the use of this and similar tools would "become universal."
"Despite the frequent resistance to quantitative analysis in some corners of the humanities, Mr.Pinker said he was confident that the use of this and similar tools would "become universal."
"Seoul keen on investing in Iran railway" from Tehran Times
"South Korea is willing to make investment in Iran's railway projects, South Korea's ambassador to Tehran Park Jae-hyun said here on Tuesday."
"China in Talks With Rakeen on Georgian Port Stake, Kobalia Says" from Bloomberg
"Chinese investors are in talks with Rakeen, a developer owned by the Gulf emirate of Ras al-Khaimah, on acquiring a stake in Georgia's Black Sea port of Poti, the Georgian economy and sustainable development minister said."
"Hello Hong Kong" from The Economist
"When it comes to the rule of law and the transparent, clean government, Hong Kong remains in a class of its own in China. Among Chinese friends drawn to Hong Kong, the intangible appeal of freedom appears to play a big part: the curious, causal freedom to buy any book you want, to surf the net without having to scale the Great Firewall. Paradoxically, though Hong Kong depends on China's economic robustness for its continued success, its appeal lies in capitalising on the mainland's weaknesses."
2010/12/21
"Mamata unveils new railway infrastructure plan for North Bengal" from Daily News & Analysis
"Banerjee laid the foundation stones fro new railway lines between Balurghat and Hili on the Bangladesh border in South Dinajpur district to improve connectivity between north and south Bengal."
"Surveillance system keeps road traffic in check" from The Enginner
"A collaboration effort between European academics and industry partners has led to the development of an automated and robust traffic surveillance system that could make road travel across Europe safer."
"North port bucks trend with jump in cargo" from Press and Journal
"A HIGHLAND port has gone against the tide and reported a sizeable increase in cargo tonnage."
"SKorean company gets contract for Angkor airport" from Bloomberg
"Cambodia has awarded a contract to a South Korean property developer to build a new international airport to serve the famous Angkor Wat temple complex, an official said Wednesday."
"Yonhap said an expansion of the airport planned for 2032 would bring its capacity to about 15.5 million passengers annually."
"Yonhap said an expansion of the airport planned for 2032 would bring its capacity to about 15.5 million passengers annually."
"Airport pulls covers off $50m revamp" from New Zealand Herald
"Auckland International Airport has unveiled a $50 million retail revamp after two yeas of work and is promising there will not be any signs of construction activity during next year's Rugby World Cup."
"Changi Airport crosses 40 million mark in passenger numbers" from AsiaOne
"Jakarta, Kuala Lumpur and Manila in SE Asia, and Hong Kong and Shanghai in NE Asia saw double-digit growth."
"The Asian Development Bank has approved a $1.1 billion finance package for two major transportation projects that will help ease traffic gridlock in Ho Chi Minh City, Vietnam's southern commercial hub, the bank said Tuesday." from National Public Radio
"Ho Chi Minh City's current population of 9 million is expected to reach almost 14 million by 2025."
"More travellers choose Gatwick Airport" from Flight Hotel Reservations
"Stewart Wingate, Gatwick Airport's chief executive, said: "It's great to see growth from easyJet, our largest customer, and from British Airways who are adding more long-haul leisure routes to their strong short-haul schedule, as well as new services introduced by Ryanair."
"Airline opens flights from Bristol to Dublin" from BBC
"Two airlines have announced they will begin flying between Bristol Airport and Dublin with the option of onward connections to America."
"Tuticorin Port gearing up to meet traffic growth" from Hindu Business Line
"It has been an eventful decade for the Tuticorin Port, one of the country's 12 major ports, with the volume of traffic handled and the revenue nearly doubling in the past ten years."
"The Cabinet has given clearance for operation of ferry service between Tuticorin and Colombo. It is expected that the memorandum of understanding will be signed at the government level."
"The Cabinet has given clearance for operation of ferry service between Tuticorin and Colombo. It is expected that the memorandum of understanding will be signed at the government level."
"Italy's ENI to help build port, plant in Libya" from Bloomberg
"Italian energy company Eni SpA has agreed to help Libya build a naval port, desalinization plant and 1,000 houses in the EL Agheila area long the Gulf of Sirte."
"UK snow: Christmas cancelled for travellers as Heathrow warns of days of delays" from Telegraph
"Christmas has been cancelled for more than 100,000 airline passengers after Heathrow admitted that disruption will continue beyond the weekend."
2010/12/19
"Panama Canal expansion to result in major port upgrades" from Portworld
"The $5.25 billion being spend on widening of the Panama Canal is only the beginning of expenditures to accommodate giant container ships, according to media reports."
"The canal expansion will enable products made in Asia to be sent directly to the East Coast instead of being unloaded on the West Coast for transfer via train or truck."
"The canal expansion will enable products made in Asia to be sent directly to the East Coast instead of being unloaded on the West Coast for transfer via train or truck."
"Abu Dhabi Fund for Development Signs US$100m with Morocco" from The Peninsula
"The high speed railway could cut travel times between the main cities of Casablanca and Tangier from 5 hours to just two, positively reflecting on the economic development pace."
"Redback mountain" from The Economist
"But there remains considerable confusion abroad about China's intentions for the yuan, and debate at home about how fast and how far to go with internationalising the currency."
"So one theme of the debate covered in the report is how internationalisation can be achieved without liberalisation. It is, in this sense, a metaphor for Chinese politics, too."
"So one theme of the debate covered in the report is how internationalisation can be achieved without liberalisation. It is, in this sense, a metaphor for Chinese politics, too."
"When finished by the end of next year, the Metok highway will be a key piece of infrastructure that doubles as an important channel for the People's Liberation Army to defend the border near India, said Anthony Wong Dong, president of the International Military Association, an independent group in Macau." from South China Morning Post
"Bangladesh: China to Fund Sonadia Port Construction" from Dredging Today
"China is baking construction of a new deep sea port at Sonadia, near Cox's Bazar in Bangladesh, and a project to build a new highway from the port of Chittagong to Kunming, in China."
"Beijing Capital overtakes Heathrow as world's second busiest airport" from Telegraph
"Traffic to Beijing International grew by 16.9 per cent last year to 65.3m passengers, only narrowly behind Heathrow, which saw a 1.5 per cent drop to 66m passengers.
"New, $300 million Fla. airport isn't drawing travelers; critics say it may be a white elephant" from ABC News
"There's no need to rush at the nation's newest international airport.
Many flights at Northwest Florida Beaches International Airport have empty seats."
Many flights at Northwest Florida Beaches International Airport have empty seats."
"The bitter taste of Auckland's traffic jams" from New Zealand Herald
"Almost a third of Auckland drivers believe traffic congestion is harming their health and performance at work or in class, according to an international survey out today."
"On a "commuter-pain index" scale of 100, Auckland scored a relatively modest 28, compared with 99 each for Beijing and Mexico City, 97 for Johannesburg and 84 for Moscow."
"On a "commuter-pain index" scale of 100, Auckland scored a relatively modest 28, compared with 99 each for Beijing and Mexico City, 97 for Johannesburg and 84 for Moscow."
"Pearl River deal barges ahead" from South China Morning Post
"China Merchants Holdings (International) and Chu Kong Shipping Development are teaming up to develop a Pearl River transshipment business to benefit from Guangdong's low-carbon policies over the next five years."
"Tunnel connects last county without a road" from South China Morning Post
"Finally, every county in China is connected by road.
And the people of Metok county in the Tibet Autonomous Region will at last, after several doomed attempts, have a link to the outside world."
And the people of Metok county in the Tibet Autonomous Region will at last, after several doomed attempts, have a link to the outside world."
2010/12/18
"Japan's Inland Sea is a world away from its big cities" from South China Morning Post
"According to local mythology, these islands are the oldest part of Japan and the surrounding waters have been a major transportation route since ancient times."
"Naoshima is also home to the kitsch 007 Museum - part of a local effort to have a Bond film shot on the island."
"Naoshima is also home to the kitsch 007 Museum - part of a local effort to have a Bond film shot on the island."
"Sugar output forecast slashed" from South China Morning Post
"Sydney: Australia slashed its 2010/11 sugar production forecast by 27 per cent after eastern canefields were flooded during harvesting, the government's commodities forecast says."
"Shangri-La hotel for Chennai" from South China Morning Post
"Hong Kong-based Shangri-La Hotels and Resorts, one of Asia's leading luxury hotel groups, has signed a contract with Riverside Infrastructure (India) to operate Traders Hotel in the southern city of Chennai. A Shangri-La hotel is also due to open in Mumbai next year and a Shangri-La hotel will open in Bangalore in early 2012."
"Mundra Port project draws Jairam Ramesh's ire" from Daily News & Analysis
"In a blow to the multi-billion dollar Mundra Port project, the environment ministry has issued a show cause notice to the developers - Gujarat-based Adani Group - asking them why the permissions granted to them earlier should not cancelled."
"Pakistan to seek more Chinese help for Gwadar port" from Reuters
"Pakistan will seek increased Chinese involvement in the operation of a strategic port run by Singapore's state-owned PSA International Ltd, government officials said on Thursday."
"The chief minister of Baluchistan, the southwestern province where Gwadar port is located, is already seeking the cancellation of the contract with the PSA on the grounds that it is a "one-sided" deal, and the case is pending in the Supreme Court of Pakistan."
"The chief minister of Baluchistan, the southwestern province where Gwadar port is located, is already seeking the cancellation of the contract with the PSA on the grounds that it is a "one-sided" deal, and the case is pending in the Supreme Court of Pakistan."
"Fog causes 52 crashes" from South China Morning Post
"SICHUAN - Fifty-two rear-end collisions involving 137 cars on Monday morning on the Chengdu bypass between Wenjiachang and Shuangliu were blamed on heavy fog that reduced visibility to less than five metres, the Huaxi Metropolis Daily reports. Nine people were injured. The accidents caused traffic chaos for three hours."
"If Hong Kong's business don't stop throwing away their records, a vital part of the city's history will be lost forever, a group of archivists and historians warn." from South China Morning Post
"Stacy Gould, University of Hong Kong head archivist, said: "The Hong Kong of 2010 isn't so different from the Hong Kong of 1890, because it's still ruled by corporate oligarchies. That's why it's so important for businesses to establish archives." "
"In Hong Kong, HSBC draws from its archives to promote its brand, refer to past business decision and, in the case of litigation, find evidence to support its side of events."
"In Hong Kong, HSBC draws from its archives to promote its brand, refer to past business decision and, in the case of litigation, find evidence to support its side of events."
2010/12/17
"Trainee pilots to pay own way at Southern" from South China Morning Post
"China Southern Airlines, Asia's largest airline, plans to fast-check its pilot certification programme by hiring high school and university graduates willing to pay their own 730,000 yuan (HK852,000) tuition fees."
"Mainland carriers , which are set to double their fleet size to 5,000 aircraft by 2015, are struggling to fill the gap between their growing demand for pilots and the projected supply of aviators from existing training programmes."
"China Southern, the only mainland airline with a dedicated flight training school, has attempted to address the problem of pilot shortages. The Guangzhou-based airline company set up a flight training school in Perth, Australia in 1993 and joined forces with Beihang University in Beijing to run the Flying College of Beihang University in the same year."
"Mainland carriers , which are set to double their fleet size to 5,000 aircraft by 2015, are struggling to fill the gap between their growing demand for pilots and the projected supply of aviators from existing training programmes."
"China Southern, the only mainland airline with a dedicated flight training school, has attempted to address the problem of pilot shortages. The Guangzhou-based airline company set up a flight training school in Perth, Australia in 1993 and joined forces with Beihang University in Beijing to run the Flying College of Beihang University in the same year."
"Gas fields discovery to bolster HK supplies" from South China Morning Post
"Dominant offshore oil and gas producer China National Offshore Oil Corporation (CNOOC) has discovered several small gas fields near the Yacheng 13-1 gas field that has been supplying Hong Kong since 1997. Deputy chairman Yang Hua said yesterday after a shareholders' meeting that while the Yacheng field is expected to be depleted in a few years, CNOOC has agreed with Hong Kong power generator CLP Holdings to supplement gas from one of the small fields to the pipeline linking Hainan Island and Hong Kong."
"Beijing approves more hydropower projects" from South China Morning Post
"The mainland has approved several new hydropower projects in a sigh that the government is speeding up development of clean energy after a slowdown in approvals in recent years because of concerns including the projects' environmental impact.
The National Development and Reform Commission (NDRC) said yesterday on its website it approved the construction of the 2.6 gigawatt Changheba hydropower project in Sichuan province this month.
The National Development and Reform Commission (NDRC) said yesterday on its website it approved the construction of the 2.6 gigawatt Changheba hydropower project in Sichuan province this month.
"Yuan bonds soar as currency appreciation hopes spur demand" from South China Morning Post
"Expectations for the fastest currency gains among the so-called BRIC nations of Brazil, Russia, India and China are adding to the allure of yuan assets, even as Chinese regulators tighten limits on fund inflows. New issuance will help drive up the average daily turnover of so-called dim sum bonds as much as sixfold to 300 million yuan (HK$349.29 million) by the end of 2011, from 50 million yuan this month, according to Standard Chartered."
"Xinjiang taps into booming red wine market" from South China Morning Post
"That could all be about the change with Chinese wine merchants keen to show the world that Xinjiang can become one of the world's premier red wine production bases.
"Xinjiang is located at roughly the same latitude as Bordeaux and California, making it an ideal place for growing grapes," said Fred Nauleau, a French winemaker hired by the Citic Guoan Wine Company, who has spent five years in the autonomous region. "And I was surprised to find that red wine I made here could inherit the fine and elegant style which once just belonged to old world, French wine." "
"Wang's idea was sparked by Xinjiang's geographical advantages and its history. An archaeological site in Niya -a key fortress on the Silk Route- discovered early last century by archaeologists from Britain, Japan and China proved that Xinjiang was once a cradle of red wine production.
Yue Feng, former director of Xinjiang's Cultural Heritage Bureau, said archaeologist found a great deal of evidence showing that the people of Niya produced and appreciated red wine as early as 300BC.
"We also found many ruins of vineyards, grape pips and even brewing equipment and alcohol containers at the Niya site," Yue said. "Some wall pictures even showed the Niya people were doing some grape wine-related business, which told us that people in the western region of China had a long wine history." "
" "I know there is an open secret that many mainland wine makers bought raw wine from France, the US, Chile, Australia and other countries to mix with their own brand wines," he said. "However, there is a rule that those countries would never provide you the best raw wine."
"Xinjiang is located at roughly the same latitude as Bordeaux and California, making it an ideal place for growing grapes," said Fred Nauleau, a French winemaker hired by the Citic Guoan Wine Company, who has spent five years in the autonomous region. "And I was surprised to find that red wine I made here could inherit the fine and elegant style which once just belonged to old world, French wine." "
"Wang's idea was sparked by Xinjiang's geographical advantages and its history. An archaeological site in Niya -a key fortress on the Silk Route- discovered early last century by archaeologists from Britain, Japan and China proved that Xinjiang was once a cradle of red wine production.
Yue Feng, former director of Xinjiang's Cultural Heritage Bureau, said archaeologist found a great deal of evidence showing that the people of Niya produced and appreciated red wine as early as 300BC.
"We also found many ruins of vineyards, grape pips and even brewing equipment and alcohol containers at the Niya site," Yue said. "Some wall pictures even showed the Niya people were doing some grape wine-related business, which told us that people in the western region of China had a long wine history." "
" "I know there is an open secret that many mainland wine makers bought raw wine from France, the US, Chile, Australia and other countries to mix with their own brand wines," he said. "However, there is a rule that those countries would never provide you the best raw wine."
2010/12/15
"Officials must do daily good deed" from South China Morning Post
"CHONGQING - The 6,500 members of the city's inspection authorities, known as chengguan, will be required to do one good deed a day - such as helping an elderly person to cross the road - to fix perceptions that they belong to a cold-blooded public order enforcement force, the Chongqing Evening Post reports."
"7 die, 50 injured as passenger trains collide in Bangladesh" from South China Morning Post
"NARSINGDI - At least seven people were killed and 50 were injured in a head-on train collision in Bangladesh, police said. Reports of the death toll varied, with one source saying 19 had died. The accident occurred at a railway station at Narsingdi, 55 kilometres northeast of the capital Dhaka, when a passenger train slammed into a stationary passenger train. The impact derailed most of the carriages. Local news reports said the accident might have been caused by a signal error."
"Rail Container to boost trade with Russia" from South China Morning Post
"Rail Container, the joint venture between Russian state-controlled TransContainer and China Railway International Multimodal Transport, which comes under the Ministry of Railways, was launched on Monday. TransContainer owns 50 per cent plus one share of the joint venture, while the Chinese partner owns the rest. On the same day, Russian Prime Minister Vladimir Putin announced plans for a US$14 billion extension of the Trans-Siberian Railway that will increase trade with China, according to Russian media reports."
"Phone smugglers caught" from South China Morning Post
"GUANGDONG" - Customs authorities in Shenzhen caught a smuggler with 85 mobile phones, 65 of them hidden under her overcoat, the Guangzhou Daily reports. On the same day, they stopped 14 women who tried to smuggle in goods worth 950,000 yuan, including 88 iPads and 340 mobile phones."
"Show takes trip to Kowloon's past" from South China Morning Post
" "People might know the Peninsula was the headquarters for the Japanese army during the occupation, but after the war it was also home to a lot of Jewish refugees," Li said. The refugees had been living in Shanghai and were bound for Australia when their ship was commandeered by the Australian army to send troops home. They ended up camping in the Peninsula's ballroom for six months."
2010/12/14
"Museum sued over 'stolen' Cezanne"
"A Parisian engineer is sueing New York's Metropolitan Museum of Art to recover a Paul Cezanne painting that he said the Bolsheviks stole from his great-grandfather during the Russian revolution."
"Underground lab in business" from South China Morning Post
"SICHUAN - China's first deep underground laboratory, 2,400 metres beneath the surface, went into service at the Jinping hydroelectricity station on the Yalong River yesterdsay, China News Service reports."
"Drunks beat and rob Samaritan" from South China Morning Post
"HENAN - Three drunks robbed a stranger who invited them to his home to sober up, the Henan Business Daily reports. The victim saw the men lying on a street in the provincial capital Zhengzhou. They robbed him after beating him with wine bottles. A district court fined and jailed the men on Tuesday."
2010/12/13
"Oh dear, it's you again officier" from South China Morning Post
"A motorist caught speeding in London two years ago moved to New Zealand only to be booked by the same police officier for again exceeding the limit. Former London policeman Andy Flitton ticketed the man in Britain shortly before migrating to New Zealnd to work for the country's traffic police. Then, he caught him again in September on a highway in the South Island, the New Zealand Herald reported."
"Bridging the gap." from South China Morning Post
"The first Yangtze River bridge linking Hubei and Hunan was put into operation yesterday. The 5.4-kilometre Bridge connects Bailuo township in Hubei and Yueyang city in Hunan."
"Shareholders approve Iberia-BA merger" from South China Morning Post
Iberia shareholders approved the Spanish flag carrier's landmark multibillion-euro merger with British Airways that will create Europe's second biggest airline."
"Schoolmates kill boy with bricks" from South China Morning Post
JIANGSU - A student in Xinyi was beaten to death by schoolmates last week, bandao.cn reports. The junior-middle-school students' murder was exposed by a post on a Sina blog site on Sunday. It said the boy was ambushed by three others after school and hit with bricks. A witness was cited as saying that two teachers saw the fight but did not intervene."
2010/12/12
"Air China orders engines" from South China Morning Post
"Rolls-Royce said yesterday it had won a US$1.8 billion order from Air China to provide engines to power 20 new aircraft."
"China may double gas buys in five years after opening pipeline" from South China Morning Post
"China may more than double imports of natural gas from Turkmenistan in five years after opening a pipeline from the Central Asian nation, which holds the world's fourth-largest reserves. Turkmenistan plans to export 17 billion cubic metres of gas to China next year, rising to 40 billion cubic metres in 2015, said a Turkmenistan official. China opened the TransAsian pipeline from Turkmenistan through Kazakhstan and Uzbekistan in December. China turned to Central Asia for gas supplies as talks on deliveries from Russia, which has the world's largest reserves, remain deadlocked over prices."
"Zhejian Expressway profits up by 7.4pc on rising traffic volumes" from South China Morning Post
"Zhejiang Expressway said net profit rose 7.4 per cent to 1.34 billion yuan (HK$1.56 billion) for the first nine months against the same period last year. Revenue reached 4.79 billion yuan, an increase of 9.1 per cent. Daily average traffic volume along the Shanghai-Hangzhou-Ningbo Expressway was 39,656 vehicles, up 14.4 per cent year on year. Traffic volume along the Shangsan Expressway was 16,723, a decrease of 12.2 per cent year on year."
"Coffee revolution hits the home of China's finest tea" from South China Morning Post
"But times are changing and Kui Wenshu is among a pioneering group of farmers who have chopped down the orange trees in their orchards to plant coffee."
"Earlier this month, she and about a dozen other coffee farmers in the village were introduced to Howard Schultz, founding president and chief executive of the US-based coffee chain Starbucks, during his trip to the province. The company plans to build a farm in Pu'er and will hire and train local farmers to grow coffee.
"To be honest, we never heard of Starbucks before, but everyone feels this is a big opportunity," said 30-years-old Kui."
"Last year, Chinese peope drank nearly 50,000 tons of coffee, compared with 200,000 tons of tea.
Coffee was introduced into modern China by Swiss-based coffee maker Nestle in the 1980s. For many years, it was seen by most Chinese as a high-class gift for friends rather than a daily beverage of personal choice."
"Earlier this month, she and about a dozen other coffee farmers in the village were introduced to Howard Schultz, founding president and chief executive of the US-based coffee chain Starbucks, during his trip to the province. The company plans to build a farm in Pu'er and will hire and train local farmers to grow coffee.
"To be honest, we never heard of Starbucks before, but everyone feels this is a big opportunity," said 30-years-old Kui."
"Last year, Chinese peope drank nearly 50,000 tons of coffee, compared with 200,000 tons of tea.
Coffee was introduced into modern China by Swiss-based coffee maker Nestle in the 1980s. For many years, it was seen by most Chinese as a high-class gift for friends rather than a daily beverage of personal choice."
"Thailand unexpectedly raises rates to fight inflation" from South China Morning Post
"Bangkok: Thailand unexpectedly raised interest rates for the third time this year, signaling policymakers view inflation as a bigger threat than slowing growth."
"Pinyin names system in works" from South China Morning Post
"The National Linguistics Work Committee said China would soon develop a national standard for translating names into English with pinyin, the Beijing Daily reports. According to the standards, Chinese people's first names will follow their surname in passports and official documents."
"Taipei and Beijing set to talk trade again" from South China Morning Post
"Taipei and Beijing aim to hold trade talks on an additional 5,000 items as early as next year following a landmark framework accord signed in June, an island official said yesterday, a possible sign of more tariff cuts."
"ICBC eyes Kwangju Bank" from South China Morning Post
"The industrial and Commercial Bank of China is considering taking over South Korea's Kwangju Bank, a report said yesterday."
"Gem sold for record HK$353m" from South China Morning Post
"A rare pink diamond has fetched 45.44 million Swiss francs (HK$353.65 million), virtually doubling the previous record to become the most expensive stone ever sold at auction, Sotheby's said."
"Eric Valdieu, a Frenchman and a former Christie's jewel expert in Geneva, now of Valdieu Fine Arts, said as he left the Sotheby's sale: "The price were stronger than in 2007-2008, that's why everyone has a smile on his face.
"The reason is the bad performance of the stock market in the last year or two. Nobody knows what they are buying with stocks, but here they are buying something solid and tangible. The top quality jewels are even more expensive than they should be." "
"Eric Valdieu, a Frenchman and a former Christie's jewel expert in Geneva, now of Valdieu Fine Arts, said as he left the Sotheby's sale: "The price were stronger than in 2007-2008, that's why everyone has a smile on his face.
"The reason is the bad performance of the stock market in the last year or two. Nobody knows what they are buying with stocks, but here they are buying something solid and tangible. The top quality jewels are even more expensive than they should be." "
"Bombardier expects sales of small jets to triple" from South China Morning Post
"A massive increase in airport capacity, with 90 new airports due to open in the next 10 years, will help triple the size of the mainland's market for small jets, according to leading manufacturer Bombardier."
"He said Bombardier had already worked with the Civil Aviation Administration of China on a computer analysis of operating a C-series aircraft in hot and high conditions between Lhasa and Chengdu."
"He said Bombardier had already worked with the Civil Aviation Administration of China on a computer analysis of operating a C-series aircraft in hot and high conditions between Lhasa and Chengdu."
"EU imposes anti-dumping duties on Chinese paper" from South China Morning Post
"The European Union imposed tariffs as high as 39.1 per cent on Chinese paper to counter below-cost imports, curbing competition for producers in Europe in an unprecedented trade dispute."
"China Power Investment to spend 500b yuan on expansion" from South China Morning Post
"China Power Investment Corp, one of the five largest power generators on the mainland, plans to spend 500 billion yuan in the next five years to build new plants as demand rises in the world's biggest energy consumer."
"Cathay cargo venture set to take off" from South China Morning Post
"An air-cargo venture expected to increase Cathay Pacific Airway's presence on the mainland could take off as early as next month, chairman Christopher Pratt said yesterday."
"The airline said the joint venture would help it gain cargo traffic in the Yangtze River Delta, where cargo throughput has grown neck and neck with that in the pearl River Delta.
Kelvin Lau Wai-kin, transport analyst of Daiwa Capital Market, said the deal may be more beneficial to Air China than Cathay.
"Obviously Cathay's major cargo business would still come from Hong Kong. It does not rely solely on the venture for its mainland cargo business as it has its own freighter routes there," Lau said. "Air China, on the other hand, could learn a lot from Cathay about the management and operation of the trade as few existing mainland airlines can handle the competition from experienced market players like UPS." "
"The airline said the joint venture would help it gain cargo traffic in the Yangtze River Delta, where cargo throughput has grown neck and neck with that in the pearl River Delta.
Kelvin Lau Wai-kin, transport analyst of Daiwa Capital Market, said the deal may be more beneficial to Air China than Cathay.
"Obviously Cathay's major cargo business would still come from Hong Kong. It does not rely solely on the venture for its mainland cargo business as it has its own freighter routes there," Lau said. "Air China, on the other hand, could learn a lot from Cathay about the management and operation of the trade as few existing mainland airlines can handle the competition from experienced market players like UPS." "
2010/12/11
"Emirates begin to recover after global turmoil" from South China Morning Post
"Dubai's economic relationship with Hong Kong has long been healthy. In concert with the global economic recovery, Hong Kong's imports from Dubai increased by more than 37 per cent in the first 10 months of this year, to US$1.45 billion, while exports to the UAE also rose to reach US$1.6 billion in the same period."
"Tourism in Dubai has made considerable strides over the past decade. Guest arrivals at Dubai hotels jumped from three million in 1999 to 7.6 million last year.
Dubai has also emerged as an important trading hub in the region. Its container throughput rose from 6.4 million TEUs to 11.1 million TEUs between 2004 and last year, up more than 70 per cent, making it the seventh busiest seaport in the world last year."
"Tourism in Dubai has made considerable strides over the past decade. Guest arrivals at Dubai hotels jumped from three million in 1999 to 7.6 million last year.
Dubai has also emerged as an important trading hub in the region. Its container throughput rose from 6.4 million TEUs to 11.1 million TEUs between 2004 and last year, up more than 70 per cent, making it the seventh busiest seaport in the world last year."
"Renowned library serves as focal point for China studies" from South China Morning Post
"Hong Kong has stood at the international forefront of research on China for more than four decades, thanks largely to the Universities Service Centre for China Studies.
The two-storey library at Chinese University boasts one of the most extensive and accessible collections of materials on contemporary China, with holdings that include more than 250 provincial and national newspapers and nearly 1,500 periodicals going back to the early 1950s.
The centre has produced the most authoritative archive on the Cultural Revolution - a CD-ROM released in 2002. Its 35 million words include mainland newspaper reports, speeches of Communist Party leaders and leaflets published by Red Guards during the political upheavals."
"Wang said more than 60 per cent of the centre's current clients are scholars from the mainland. The centre sponsors up to 40 mainland academics each year on short visits, he said, particularly researchers from far-flung provinces such as Yunnan."
The two-storey library at Chinese University boasts one of the most extensive and accessible collections of materials on contemporary China, with holdings that include more than 250 provincial and national newspapers and nearly 1,500 periodicals going back to the early 1950s.
The centre has produced the most authoritative archive on the Cultural Revolution - a CD-ROM released in 2002. Its 35 million words include mainland newspaper reports, speeches of Communist Party leaders and leaflets published by Red Guards during the political upheavals."
"Wang said more than 60 per cent of the centre's current clients are scholars from the mainland. The centre sponsors up to 40 mainland academics each year on short visits, he said, particularly researchers from far-flung provinces such as Yunnan."
"How China pushed Qatar out of Sh400bn Lamu port deal" from Daily Nation
"A cable released detailing China's interest in local economy shows negotiations involving development of Lamu port took place inside the "black box" of President Kibaki's inner circle at State House."
"Rail plan may boost China's regional sway" from South China Morning Post
"China has put its ties with other Asian nations on a fast track as it competes with the United States for influence in the region."
"But unlike the US, China is offering its neighbours tangible benefits of alliance, such as high-speed railway and infrastructure investments.
China and Thailand are in advanced talks over a high-speed railway that will pass from southern China through Laos to Thailand, but the plan awaits full confirmation.
In October, the Thai parliament approved a framework for further negotiations with China on a high-speed railway in Thailand, the Bangkok Post reported. The plan would see China build rail lines in Thailand up to the Thai-Malaysian border, with trains running at 250 kilometres per hour. The project is estimated to cost US$23 billion to US$27 billion.
The first section to built would be a link between Bangkok and Nong Khai in northeast Thailand on the Thai-Lao border, Thai Transport Minister Sophon Sarum told media this month. Sophon said this 615kilometre section would cost 208 billion baht (HK$52.93 billion)."
"The high-speed railway that will operate between China, Laos and Thailand in the next few years is part of China's long-term plan to have a high-speed railway from China all the way through Malaysia to Singapore."
"The proposed high-speed rail link between China and Thailand will integrate other Asean members with China physically and spread prosperity from the wealthier to the less developed Asean nations, said Pavin Chachavalpongpun, a Thai researcher at the Institute of Southeast Asian Studies in Singapore."
"Vietnam will adopt Japanese high-speed rail technology for its project, which would cost US$55 billion and take 10 to 15 years to build. A Chinese system would require a fraction of the cost and time, the South China Morning Post earlier reported.
"Vietnam is particularly conscious of its problems with China because of history and geography," Wong said. Over the past 2,000 years, China and Vietnam have often been at war, the latest being the Sino-Vietnamese war in 1979. Vietnam and China still have lingering territorial disputes over the South China Sea, which the Vietnamese call the East Vietnam Sea, Wong said. "In Vietnam, some quarters are still anti-China, but other elements are quite neutral. They want China's investment, tourism and trade." "
"Wu's visit to Cambodia came just days after Clinton's visit, when she urged the nation not to become "too dependent" on China.
Wu also visited Indonesia just days before Obama arrived there. On November 8, one day before Obama arrived, China signed US$6.6 billion worth of deals with Indonesia in Jakarta, including infrastructure, energy and agricultural projects."
"But unlike the US, China is offering its neighbours tangible benefits of alliance, such as high-speed railway and infrastructure investments.
China and Thailand are in advanced talks over a high-speed railway that will pass from southern China through Laos to Thailand, but the plan awaits full confirmation.
In October, the Thai parliament approved a framework for further negotiations with China on a high-speed railway in Thailand, the Bangkok Post reported. The plan would see China build rail lines in Thailand up to the Thai-Malaysian border, with trains running at 250 kilometres per hour. The project is estimated to cost US$23 billion to US$27 billion.
The first section to built would be a link between Bangkok and Nong Khai in northeast Thailand on the Thai-Lao border, Thai Transport Minister Sophon Sarum told media this month. Sophon said this 615kilometre section would cost 208 billion baht (HK$52.93 billion)."
"The high-speed railway that will operate between China, Laos and Thailand in the next few years is part of China's long-term plan to have a high-speed railway from China all the way through Malaysia to Singapore."
"The proposed high-speed rail link between China and Thailand will integrate other Asean members with China physically and spread prosperity from the wealthier to the less developed Asean nations, said Pavin Chachavalpongpun, a Thai researcher at the Institute of Southeast Asian Studies in Singapore."
"Vietnam will adopt Japanese high-speed rail technology for its project, which would cost US$55 billion and take 10 to 15 years to build. A Chinese system would require a fraction of the cost and time, the South China Morning Post earlier reported.
"Vietnam is particularly conscious of its problems with China because of history and geography," Wong said. Over the past 2,000 years, China and Vietnam have often been at war, the latest being the Sino-Vietnamese war in 1979. Vietnam and China still have lingering territorial disputes over the South China Sea, which the Vietnamese call the East Vietnam Sea, Wong said. "In Vietnam, some quarters are still anti-China, but other elements are quite neutral. They want China's investment, tourism and trade." "
"Wu's visit to Cambodia came just days after Clinton's visit, when she urged the nation not to become "too dependent" on China.
Wu also visited Indonesia just days before Obama arrived there. On November 8, one day before Obama arrived, China signed US$6.6 billion worth of deals with Indonesia in Jakarta, including infrastructure, energy and agricultural projects."
"Cheers to a girl's best friend" from South China Morning Post
"Some of the finest things in life that we love, such as chocolates, beer and cheese, come from Belgium, a vibrant, beautiful country between France and the Netherlands."
"Antwerp is and always has been one of the major cities of Flanders, the Flemish-speaking part of Belgium. Situated on the banks of the River Scheldt, it has been a centre of commerce and culture since the Middle Ages.
The Antwerp diamond industry can be traced back to the 15th century. Its international port in the North Sea is one of the largest in Europe. About half an hour's drive from the Belgian capital, Brussels, headquarters of the European Union, it lies at the crossroads of international traffic."
"Belgium was one of the first countries with whom Hong Kong signed a Double Taxation Treaty to help companies avoid repeat taxation. This was mainly because a large number of companies were using Belgium as a gateway to Europe.
Mainland companies and banks are also focusing on Belgium. Recently, the Industrial and Commercial Bank of China, the mainland's biggest bank, decided to open an office in Brussels, and Bank of China, the third-biggest bank on the mainland, has decided to follow suit. They are the first two mainland banks to set foot in the country."
"Antwerp is and always has been one of the major cities of Flanders, the Flemish-speaking part of Belgium. Situated on the banks of the River Scheldt, it has been a centre of commerce and culture since the Middle Ages.
The Antwerp diamond industry can be traced back to the 15th century. Its international port in the North Sea is one of the largest in Europe. About half an hour's drive from the Belgian capital, Brussels, headquarters of the European Union, it lies at the crossroads of international traffic."
"Belgium was one of the first countries with whom Hong Kong signed a Double Taxation Treaty to help companies avoid repeat taxation. This was mainly because a large number of companies were using Belgium as a gateway to Europe.
Mainland companies and banks are also focusing on Belgium. Recently, the Industrial and Commercial Bank of China, the mainland's biggest bank, decided to open an office in Brussels, and Bank of China, the third-biggest bank on the mainland, has decided to follow suit. They are the first two mainland banks to set foot in the country."
"China Recources sticks to buying plan to flat growth" from South China Morning Post
"China Resources Enterprise, the state-backed consumer business conglomerate, said it will continue to undertake acquisitions within its core sectors of retail, beer, food and beverages."
"The beer division showed strong recovery in the third quarter, with a year-on-year earnings increase of 30.2 per cent to HK$526 million.
An increase in production capacity and more aggressive promotions drove China Resources' national beer brand Snow up 15 per cent to 7.05 million kilolitres, accounting for more than 90 per cent of beer sales for the first nine months.
The beverage business achieved growth of 44.8 per cent in year-on-year earnings in the third quarter, reaching HK$84 million."
"The beer division showed strong recovery in the third quarter, with a year-on-year earnings increase of 30.2 per cent to HK$526 million.
An increase in production capacity and more aggressive promotions drove China Resources' national beer brand Snow up 15 per cent to 7.05 million kilolitres, accounting for more than 90 per cent of beer sales for the first nine months.
The beverage business achieved growth of 44.8 per cent in year-on-year earnings in the third quarter, reaching HK$84 million."
2010/12/10
"There's money to be made in smart power" from South China Morning Post
"As China aims to spend billions of dollars to criss-cross the country with new long-distance power infrastructure, investments in new technologies that combine electricity and telecommunications are drawing key interest from firms."
"IBM plans to launch nine smart-grid projects across the mainland and expects to generate US$400 million in smart-grid revenue there alone, it said earlier this year.
Companies including Hewlett-Packard, ABB, Siemens, Westinghouse, Duke Energy Corp and Alstom are also involved in smart-grid projects."
"IBM plans to launch nine smart-grid projects across the mainland and expects to generate US$400 million in smart-grid revenue there alone, it said earlier this year.
Companies including Hewlett-Packard, ABB, Siemens, Westinghouse, Duke Energy Corp and Alstom are also involved in smart-grid projects."
"Drop in surface wind speeds an early warning for industry" from South China Morning Post
"The average speed of surface winds over most regions in the northern hemisphere have dropped significantly in the past three decades, according to a study published online by Nature magazine last month."
"Tang Jianping, an associate professor at Nanjing University's College of Atmospheric Sciences, said meteorologists on the mainland noticed a long time ago that winds were slowing down. The increase in surface drag caused by urbanisation might explain the slowdown near cities, but it could not explain why monsoon winds from the sea had slowed as well, he said."
"Tang Jianping, an associate professor at Nanjing University's College of Atmospheric Sciences, said meteorologists on the mainland noticed a long time ago that winds were slowing down. The increase in surface drag caused by urbanisation might explain the slowdown near cities, but it could not explain why monsoon winds from the sea had slowed as well, he said."
"Wholesale produce prices rising" from ABC Rural
"Wholesale prices for some fruit and vegetables have doubled due to flooding across eastern Australia.
There's reported shortages of particularly pumpkin, watermelon and cherries, with prices up more than a dollar on last year."
There's reported shortages of particularly pumpkin, watermelon and cherries, with prices up more than a dollar on last year."
"Gold, Silver Tumble as Dollar Gains, Curbing Demand for Alternative Assets" from Bloomberg
"Gold and silver futures tumbled the most in three weeks as the dollar climbed, eroding the appeal of precious metals as an alternative asset.
The greenback rose for the third straight day against a basket of six major currencies on speculation that an extension of tax cuts will spur the U.S. economy. Gold has gained 26 percent this year, reaching a record $1,432.50 an ounce yesterday."
The greenback rose for the third straight day against a basket of six major currencies on speculation that an extension of tax cuts will spur the U.S. economy. Gold has gained 26 percent this year, reaching a record $1,432.50 an ounce yesterday."
"China PBOC Won't Offer 3-year Bills Tomorrow as Demand Wanes" from Bloomberg Businessweek
"The people's Bank of China won't sell three-year bills in tomorrow's open-market operations amid cooling demand from banks, which are demanding higher yields."
"Nikkei 225 Rises to Seven-Month High on GDP, Strong Euro; Banks Lead Gains" from Bloomberg
"Japanese stocks gained, sending the Nikkei 225 Stock Average to almost a seven-month high, as Japan's economy grew faster than expected and the euro strengthened against the yen."
"Sugar Falls as India Demand May Wane; Cocoa Drops; Coffee Rises" from Bloomberg
"Sugar prices in New York fell for the third time this week on concern that India, the world's largest user, will tax imports, reducing demand. Cocoa dropped, and coffee climbed.
India will consider imposing a duty on sugar imports after assessing the domestic production in the third week of December, Farm Minister Sharad Pawar told reporters in New Delhi. Before today, prices jumped 23 percent this quarter as adverse weather damaged global crops."
India will consider imposing a duty on sugar imports after assessing the domestic production in the third week of December, Farm Minister Sharad Pawar told reporters in New Delhi. Before today, prices jumped 23 percent this quarter as adverse weather damaged global crops."
2010/12/09
"High price for prized textbook" from South China Morning Post
"SHANGHAI - A copy of a reprint of the old Chinese-language textbook for primary school pupils from the era when the Kuomintang ruled has become so highly sought-after on the mainland that its price has risen by a factor of 10 to 260 yuan a copy, the Henan Business Daily reports. The textbook, first published in 1932, is hailed for its illustrations and relevance to children."
"Crackdown on greeting cards" from South China Morning Post
"LIONING - Authorities in Shenyang have banned all government departments from purchasing and mailing greeting cards for the Lunar New Year, which begins on February 3, The Beijing News reports. Government departments are encouraged to use text message and e-cards for greetings, instead of paper greeting cards and postcards, which are seen as environmentally unfriendly and a waste of money."
"SABMiller's earnings bubble up" from South China Morning Post
"SABMiller, maker of Grolsch and Peroni beers, reported first-half profit that beat analysts' estimates on growth in all regions outside Europe, sending the shares to a record high."
"As China plans new era of turbine power, the technology may not be as green as it seems" from South China Morning Post
"Theoretically, though, the possibility is there. In 1961, American mathematician and meteorologist Edward Lorenz discovered by computer modelling that in a chaotic and sophisticated system such as atmosphere, a disturbance as small as the flap of a butterfly's wings could set off a tornado thousands of kilometres away. It has come to be known as the Butterfly Effect."
"For decades, wind industry designers have been mining the catalogue of airfoil profiles developed by the US National Advisory Committee for Aeronautics, the predecessor of Nasa, to determine the shape of the most efficient blades. The chosen blades were tested in a wind tunnel to ensure the maximum lift and minimum drag in a given environment, such as Inner Mongolia."
"Hu Yongyun, professor of the School of Physics' Department of Atmospheric and Oceanic Sciences at Peking University, said wind turbines were unlikely to dramatically alter regional climate, such as precipitation, as long as they stayed small.
"In my opinion, wind farms of less than a dozen square kilometres should have little impact on climate because a thunderstorm, for instance, requires a much larger area to form," Hu said."
But large-scale wind farms were another matter, he said. China is building seven such major bases. One in Jiuquan, Gansu, covers nearly 200,000 square kilometres."
"The Butterfly Effect certainly exists, but rarely do scientists consider it in practice. Even something as large as a wind turbine is often neglected because we consider only the air movement high up in the atmosphere, more than a dozen kilometres above sea level," he said."
"For decades, wind industry designers have been mining the catalogue of airfoil profiles developed by the US National Advisory Committee for Aeronautics, the predecessor of Nasa, to determine the shape of the most efficient blades. The chosen blades were tested in a wind tunnel to ensure the maximum lift and minimum drag in a given environment, such as Inner Mongolia."
"Hu Yongyun, professor of the School of Physics' Department of Atmospheric and Oceanic Sciences at Peking University, said wind turbines were unlikely to dramatically alter regional climate, such as precipitation, as long as they stayed small.
"In my opinion, wind farms of less than a dozen square kilometres should have little impact on climate because a thunderstorm, for instance, requires a much larger area to form," Hu said."
But large-scale wind farms were another matter, he said. China is building seven such major bases. One in Jiuquan, Gansu, covers nearly 200,000 square kilometres."
"The Butterfly Effect certainly exists, but rarely do scientists consider it in practice. Even something as large as a wind turbine is often neglected because we consider only the air movement high up in the atmosphere, more than a dozen kilometres above sea level," he said."
"CNOOC acquires BP asset to boost presence in South America" from South China Morning Post
"CNOOC is to bolster its presence in South America by agreeing to pay US$3.53 billion for a 30 per cent stake in some assets that beleaguered oil major BP is selling to help pay for the damage caused by the oil spill in the Gulf of Mexico."
2010/12/08
"Security guards scratch cars" from South China Morning Post
"HUBEI - Twelve cars parked at the west gate of Wuhan's Central China Normal University suffered flat tyres and scratches on Tuesday, the Wuhan Evening News reports."
"Buy-back resumed by BHP Billiton after PotashCorp offer scrapped" from South China Morning Post
"BHP Billiton, the world's largest mining company, resumed a share buy-back after abandoning its hostile US$40 billion takeover offer for Canada's PotashCorp of Saskatchewan in the face of government opposition."
"Thai firm may lose Australian drilling rights" from South China Morning Post
"Thai company PTT Exploration and Production (PTTEP) may lose the right to drill in Australia after a review of the company's plans to prevent a repeat of its Montara oil spill last year off the northwestern coast, Energy Minister Martin Ferguson said."
"Chinese company waiting to mine at ancient Afghan ruins" from South China Morning Post
"It was another day on the rocky hillside, as archaeologists and labourers dug out statues of Buddha and excavated a sprawling 2,600-year-old monastery."
"The woman represent a Chinese company eager to develop the world's second-biggest unexploited copper mine, lying beneath the ruins."
"But Mes Aynak is caught between Afghanistan's hopes for the future and its history. Archaeologists are rushing to salvage what they can from a major religious site on the famed Silk Road connecting Asia and the Middle East. The ruins, including the monastery and domed shrines known as "stupas", are likely to be destroyed once work at the mine begins."
"Mes Aynak's religious sites and copper deposits have been bound together for centuries - "mes" means "copper" in the local Dari language. Throughout the site's history, artisanal miners have dug up copper to adorn statues and shrines."
"The woman represent a Chinese company eager to develop the world's second-biggest unexploited copper mine, lying beneath the ruins."
"But Mes Aynak is caught between Afghanistan's hopes for the future and its history. Archaeologists are rushing to salvage what they can from a major religious site on the famed Silk Road connecting Asia and the Middle East. The ruins, including the monastery and domed shrines known as "stupas", are likely to be destroyed once work at the mine begins."
"Mes Aynak's religious sites and copper deposits have been bound together for centuries - "mes" means "copper" in the local Dari language. Throughout the site's history, artisanal miners have dug up copper to adorn statues and shrines."
"No mountain too high as Wi-fi scales Himalayas" from South China Morning Post
"It used to take teacher Mahabir Pun more than two days to check his e-mail from his home in the remote Himalayan village of Nagi in western Nepal."
"Today, all Pun has to do is log on to the wireless network he has set up over the past few years, catapulting more than 100 impoverished villages in Nepal into the 21st century.
The technology has transformed lives in some of the most inhospitable places on earth, where there are no roads or hospitals and where most people scratch out a meagre living as subsistence farmers."
"Once again, Pun asked his foreign volunteers to bring what they could to help - customs officials, he reasoned, would be unlikely to suspect Western backpackers of smuggling in contraband communications equipment.
Nagi was the first village to be connected and, by September 2003, five villages in Myagdi district, about 300 kilometres northwest of Kathmandu, were accessing the network."
"Today, all Pun has to do is log on to the wireless network he has set up over the past few years, catapulting more than 100 impoverished villages in Nepal into the 21st century.
The technology has transformed lives in some of the most inhospitable places on earth, where there are no roads or hospitals and where most people scratch out a meagre living as subsistence farmers."
"Once again, Pun asked his foreign volunteers to bring what they could to help - customs officials, he reasoned, would be unlikely to suspect Western backpackers of smuggling in contraband communications equipment.
Nagi was the first village to be connected and, by September 2003, five villages in Myagdi district, about 300 kilometres northwest of Kathmandu, were accessing the network."
"Huang Hua, pivotal in diplomacy, dies" from South China Morning Post
"Mao Zedong's former translator and longtime diplomat Huang Hua died, aged 98, of an undisclosed illness yesterday, Xinhua reported.
Huang translated English for Mao in the years before the 1949 communist seizure of power and was later pivotal in China's foreign relations."
Huang translated English for Mao in the years before the 1949 communist seizure of power and was later pivotal in China's foreign relations."
"Beijing-Shanghai line moves ahead" from South China Morning Post
"The route, which is scheduled to go into operation before the end of next year, serves three municipalities - Beijing, Tianjin and Shanghai - and passes through the provinces of Hebei, Shandong, Anhui and Jiangsu. It effectively connects a quarter of the country's population with bullet-train links.
Railway officials estimate the 24-station route will handle an astounding 80 million passengers in each direction annually."
"The mainland has 7,431km of high-speed rail track in operation - more than any other country in the world."
Railway officials estimate the 24-station route will handle an astounding 80 million passengers in each direction annually."
"The mainland has 7,431km of high-speed rail track in operation - more than any other country in the world."
"Single-seater for Honda in India" from Wall Street Journal
"Critically, for Honda this isn't an exit from India. Rather, it is a reshaping of its strategy toward the market, which once was unapproachable without a local partner.
Honda already makes and sells bikes and scooters under its own brand in India, holding about 14% of the market by units sold, according to J.D. Power & Associates date."
Honda already makes and sells bikes and scooters under its own brand in India, holding about 14% of the market by units sold, according to J.D. Power & Associates date."
"TRAFFIC GROWS AT TURKISH AIRPORTS" from International Herald Tribune
"The number of passengers using Turkish airports rose to 96.3 million in the first 11 months of this year, marking a 21 percent increase from the same period last year, the airport authority said on its Web site."
"When seats are suspect, airlines are left in limbo" from International Herald Tribune
"Scandal at Japanese firm could disrupt industry well into the next decade"
"CATHAY TO FLY DIRECT TO CHICAGO" from International Herald Tribune
"Cathay Pacific will begin daily nonstop flights between Hong Kong and Chicago on Sept.1, 2011, the Hong Kong airline said in a statement on Monday. The carrier will also add a third nonstop flight John F. Kennedy International Airport in New York to Hong Kong in May."
2010/12/07
"Crackdown on highways fraud" from South China Morning Post
"The Ministry of Transport yesterday announced measures to tackle illegal spending on infrastructure projects amid concerns hundreds of billions of yuan are owed to banks for highways projects."
"The fact that 200 billion yuan is owed to banks by Guandgong expressway projects despite the many toll stations collecting fees was partly due to corruption and inefficiency, Zheng said.
Many expressways are built in remote parts of the province where there is not enough traffic to recover the costs through collected tolls, he said. "Such expressways should never have been built in the first place," he said."
"The fact that 200 billion yuan is owed to banks by Guandgong expressway projects despite the many toll stations collecting fees was partly due to corruption and inefficiency, Zheng said.
Many expressways are built in remote parts of the province where there is not enough traffic to recover the costs through collected tolls, he said. "Such expressways should never have been built in the first place," he said."
"Bonds Jump Most in 21 Months as PBOC Tackles Cash Shortage: China Credit" from Bloomberg
"China's bonds rallied the most in almost two years last week as policy makers pumped funds into the financial system, easing a shortage of cash after banks were ordered twice last month to set aside more money as reserves."
"Caterpillar to sell 1b yuan bonds" from South China Morning Post
"Caterpillar, the world's biggest manufacturer of construction equipment, said it will sell up to 1 billion yuan of two-year bonds in Hong Kong with a 2 per cent coupon rate."
"SITC places US$72m order for four container vessels" from South China Morning Post
"Mainland logistics company SITC International Holdings yesterday entered into an agreement with a shipbuilder for four container vessels for US$72.4 million. SITC also has an option to buy another four container vessels from Yangfan Group for US$72.4 million. The option will expire in August next year."
"CR Cement embarks on expansion course" from South China Morning Post
"Calls to curb the massive loan growth on the mainland are not stopping China Resources Cement Holdings from building what will become possibly the world's biggest cement plant and doubling production capacity.
"By 2012, we will have the world's biggest cement plant in Fengkai," said the company's strategic development director, Max Yu Zhongliang."
"The Fengkai plant is next to the Xijiang or Western River. China Resources invested 1.2 billion yuan in a cargo terminal to transport cement from the plant by river. It was seven times cheaper to transport cement by river compared to trucks, Hu said.
Next year, the river terminal would start shipping fine stones, or aggregate as it is known in the industry, to Hong Kong as a raw material for construction projects, Yu said."
"By 2012, we will have the world's biggest cement plant in Fengkai," said the company's strategic development director, Max Yu Zhongliang."
"The Fengkai plant is next to the Xijiang or Western River. China Resources invested 1.2 billion yuan in a cargo terminal to transport cement from the plant by river. It was seven times cheaper to transport cement by river compared to trucks, Hu said.
Next year, the river terminal would start shipping fine stones, or aggregate as it is known in the industry, to Hong Kong as a raw material for construction projects, Yu said."
"HK plans flight into international market by seat of its pants" from South China Morning Post
"The humble aircraft seat may be Hong Kong's ticket to enter the fiercely competitive international aviation industry."
"HK flavour of world's Chinatowns on wane" from South China Morning Post
"When Edward Chow Kwong-fai studied in London 1968, the 16-year schoolboy learnt the trick of how to get a bigger serving in Chinatown restaurants - speak Cantonese. Now, if he wants his meal "super-sized" he has to speak another language."
"Nowadays many of the waiters and waitresses speak Putonghua, while menus are in simplified Chinese characters used on the mainland, not the traditional characters used in Hong Kong and Taiwan."
"Nowadays many of the waiters and waitresses speak Putonghua, while menus are in simplified Chinese characters used on the mainland, not the traditional characters used in Hong Kong and Taiwan."
"Bilingua preschool policy spurs fears of marginalising of Tibetan" from South China Morning Post
"The central government plans to offer two years of free, bilingual preschool education in rural areas of Tibet by 2025."
"San Miguel seeks to raise US$3b" from South China Morning Post
"San Miguel, the Philippines' largest food and drinks company, may sell about US$3 billion of shares in the first quarter of next year to fund bids for power and infrastructure projects. San Miguel, which began as a brewer in 1890, is seeking to accelerate expansion into industries including railways, energy, telecommunications and mining."
"7b yuan in contracts signed" from South China Morning Post
"China CAMC Engineering signed 7.15 billion yuan worth of contracts with Venezuelan state firms on Friday to build infrastructure, plant crops, and supply agricultural machines. The contracts would effect profits over the next three years, the company told Shenzhen's stock exchange."
"Rise in social security spending" from South China Morning Post
"China spent 3.26 trillion yuan (HK$3.8 trillion) on social security during 2006-2010, an annualised increase of 17.6 per cent, the Finance Ministry said."
"Chinese train sets world speed record" from South China Morning Post
"CSR, China's largest maker of rail vehicles, and partner General Electric may bid to build high-speed train lines in California and Florida, CSR chairman Zhao Xiagang says. The companies may be also compete for a project on the US east coast."
"Huaneng Renewables and Datang both seeking capital for expansion" from South China Morning Post
"China's largest wind power firm, Huaneng Renewables Corp, is to tap the Hong Kong stock market through a US$1.45 billion listing in a deal that will cross swords with its arch-rival."
2010/12/06
"Cleaner power." from South China Morning Post
"A building under construction seen through thick steam and power cables near the Taiyanggong gas-fired thermal power station in Beijing, a combined-cycle power plant that can claim to be far "greener" than oil- or coal-fired plants. The World Bank says cities can act to help combat global warming more easily than governments."
"China Qinfa buys into Huameiao" from South China Morning Post
"Coal logistics firm China Qinfa Group's share price surged 10.7 per cent to HK$4.03 after it unveiled a deal to buy a 32 per cent stake in Huameiao Energy for 1.6 billion yuan, to be half-financed by a bank loan and half by its own resources. Huameiao has three coal mines within 100 kilometres of China Qinfa's coal loading stations in Datong, Shanxi province. They will have a combined output capacity of 8 million tonnes by next year's third quarter. China Qinfa will have the right to buy at least 32 per cent of the mine's output."
"Shangri-La Paris to open next month" from South China Morning Post
"Shangri-La Hotels and Resorts yesterday announced that its Shangri-La Hotel in Paris will open on December 17, its first property in Europe. The hotel has been converted from a building built in 1896 as the private home for Napoleon Bonaparte's grandnephew, Prince Roland Bonaparte. The hotel offers 81 rooms, including 27 suites. The building is listed with the French heritage institution for preservation. The company took four years to restore the prince's Palais Iéna to its original splendour."
"Art sales highlight flourishing Asian market" from South China Morning Post
"Another month, another busy week in Asia's increasingly hectic art calendar."
"Christie's Asia chairman Ken Yeh said he had observed a significant increase in the number of mainland buyers participating in New York and London sales, bidding for Impressionist and Modern paintings priced from US$10 million to US$20 million.
He said most mainland buyers bought Impressionist and Modern art as investors and collectors."
"Christie's Asia chairman Ken Yeh said he had observed a significant increase in the number of mainland buyers participating in New York and London sales, bidding for Impressionist and Modern paintings priced from US$10 million to US$20 million.
He said most mainland buyers bought Impressionist and Modern art as investors and collectors."
2010/12/05
"Clean future." from South China Morning Post
"Workers in Yulin, in Shaanxi province, check solar panels. The city is turning to wind and solar energy as its new pillar industries."
"Revenue falls 6pc at China Water Affairs" from South China Morning Post
"China Water Affairs Group, an integrated water services operator, said revenue fell for the six months to September because of the ceasing of income contributions from an infrastructure project completed last year."
"Sino-Ocean and Nan Fung to develop Dalian property" from South China Morning Post
"Beijing-based developer Sino-Ocean Land Holdings has jointed forces with Hong Kong's Nan Fung Group to develop a property project in Dalian for US$650 million."
"Beijing cracks down on commodity trades" from South China Morning Post
"The mainland's three commodity futures exchanges have raised their minimum margin requirements to curb speculation, as part of Beijing's efforts to ease inflationary pressure.
The Dalian and Zhengzhou exchange said yesterday they would increase margins to 10 per cent from as low as 5 per cent, after the market closes on Monday.
The two bourses followed in the footsteps of the Shanghai Futures Exchange, which announced on Thursday it was raising the percentage of cash a trader must deposit with brokerages."
The Dalian and Zhengzhou exchange said yesterday they would increase margins to 10 per cent from as low as 5 per cent, after the market closes on Monday.
The two bourses followed in the footsteps of the Shanghai Futures Exchange, which announced on Thursday it was raising the percentage of cash a trader must deposit with brokerages."
"Vegetables grown on roadside" from South China Morning Post
"Hainan - Qionghai residents have started growing vegetables on roadside green belts to counter rising vegetable prices, the China Youth Daily reports. Some growers said it not only helped reduce their living costs but also added fun to their leisure time. The authorities have expressed concern but taken no action to stop them."
"Suzlon to boost China wind turbine output" from South China Morning Post
"Indian wind turbine company Suzlon Energy plans to expand production capacity at its plant in Tianjin by two-thirds and is mulling adding production sites in northern China to be closer to customers' wind farms, according to its new China chief.
The company announced last Friday the appointment of Hongkonger Richard Ho as chief executive of Suzlon Energy Tianjin from December 1. Suzlon also has plants in India, the United States and Germany."
The company announced last Friday the appointment of Hongkonger Richard Ho as chief executive of Suzlon Energy Tianjin from December 1. Suzlon also has plants in India, the United States and Germany."
IWC's boutique at 1881 Heritage is its first and only flagship boutique worldwide. It represents the brand's DNA and core values, and takes visitors on "an inspirational voyage of discovery" into the brand, according to Etienne de Gramont, managing director of IWC for northeast Asia." from South China Morning Post
"Beauty at a price." from South China Morning Post
"The Oei Tiong Ham Necklace, with an estimated value of up to HK$17.2 million, is one of the exquisite pieces on view at Sotheby's modern Masters private sales exhibition running until tomorrow at the Grand Hyatt Hong Kong. The necklace will be auctioned in New York on December 9."
"Bank of Ireland raises €1.5m from auction of art works" from South China Morning Post
"Dublin: Bank of Ireland has raised €1.5 million (HK$15.43 million) in a sale of its prized Irish art works, auctioneers said on Thursday, but the money will not be used to shore up the troubled lender amid the country's economic gloom."
2010/12/04
"Russia buying Canadian dollars, eyes other currencies" from South China Morning Post
"Moscow: Russia has started adding the Canadian dollar to its international reserves and may increase those holdings in coming months, said Alexei Ulyukayev, first deputy chairman of Russia's central bank."So far, the amounts are very small, but there's perhaps potential for increasing our holdings," Ulyukayev said. Russia aims to diversify its reserves, the world's third-biggest, and promote the use of regional currencies in international trade and finance to reduce risks posed by US dollar. It has said it also plans to increase gold holdings and may consider including other currencies, including the Australian dollar."
"New HK$1,000 banknote raises the 'bar' on security" from South China Morning Post
"Officials say it will be inserted at a cost, but will make the bills more difficult to copy. The device has been used for the first time this year in some Pacific Ocean islands and African countries. The mainland has also used it on commemorative notes, but no Western countries have so far used the technology.
Hong Kong Note Printing Limited general manager Francis Lau said: "Not many have adopted this feature because it's new. Special machines and inks are required and than can add to costs."
Hong Kong Note Printing Limited general manager Francis Lau said: "Not many have adopted this feature because it's new. Special machines and inks are required and than can add to costs."
"Slimmer backrests to buoy Lufthansa profits with more seats" from South China Morning Post
"Frankfurt: Deutsche Lufthansa, Europe's second-biggest airline, said it will add almost 2,000 more seats to its single-aisle fleet by the end of next year by switching to berths with slimmer backrests. The seats will allow Lufthansa to add as many as two extra rows, equivalent to 12 passengers, to each plane while boosting legroom by five centimetres. The revamp involves about 200 aircraft. The German carrier will also offer free snacks on its shortest flights for the first time in 15 years as it seeks to return fares to pre-slump levels and compete with discount carriers including Ryanair Holdings and Air Berlin."
"Malaysia Air returns to profit as passenger load at 15-year high" from South China Morning Post
"Kuala Lumpur: Malaysia Airlines said yesterday it returned to profit in the third quarter as travel increased amid the region's economic recovery."
"Qatar Airways says it may buy more Airbus A380s" from South China Morning Post
"Paris: Gulf flag carrier Qatar Airways is considering ordering more A380 superjumbos from European planemaker Airbus, the airline's chief executive Akbar Al Baker said yesterday, in a welcome bit of good news for the manufacturer after recent engine problems with its twin-deck flagship."
"Coal reserves dangerously low" from South China Morning Post
Beijing said yesterday cola reserves at some power plants had fallen to dangerous levels, and pledged to increase coal shipments to power plants to ensure adequate electricity supply during winter."
"3 firms shelve share offers amid dim market sentiment" from South China Morning Post
"China Datang Corp Renewable Power, the nation's second-largest wind power generator, has delayed its US$1.5 billion share offering."
"Spot the companies most likely to cook their books" from South China Morning Post
"Some industries were more prone to fiddling their numbers than others. As the first chart below shows, each year on average 8.5 per cent of companies in the agricultural sector restate their earnings. In contrast, construction companies appear to have clean hands.
There are also clear differences between different provinces. As the second chart shows, companies in poorer, less developed provinces are far more likely to restate their earnings than companies based in provinces with a relatively advanced legal and accounting infrastructure like Guangdong."
There are also clear differences between different provinces. As the second chart shows, companies in poorer, less developed provinces are far more likely to restate their earnings than companies based in provinces with a relatively advanced legal and accounting infrastructure like Guangdong."
"Northern wilderness transformed into grain basket on Mao's orders" from South China Morning Post
"The fertile black-earth plains of the northeast, China's most important grain-producing belt, turn golden yellow in autumn, a broad sweep of rice paddies and farmland stretching on towards the horizon.
But half a century ago, the vast expanse of Heilongjiang land, bordering Siberia, was covered by marshes and known as Beidahuang, the Great Northern Wilderness."
But half a century ago, the vast expanse of Heilongjiang land, bordering Siberia, was covered by marshes and known as Beidahuang, the Great Northern Wilderness."
2010/12/03
"Rapper DMX heads back to jail" from South China Morning Post
An Arizona judge on Wednesday denied bail for rapper DMX, on charges that the violated probation by using drugs, court officials said. The 39-year-old rapper was arrested on last week for probation violations that included using cocaine and Oxycontin, failing to submit to drug testing and driving with a suspended licence.
"Signing of US trade agreement 'may quadruple exports to HK' " from South China Morning Post
Hong Kong held out a fig leaf to the United States yesterday as it became the first and so far the only signatory to an agreement to co-operate on trade promotion with the US Commercial Service since the launch of President Obama's National Export Initiative in January."
"More than 20 tip-offs in Citizen Map's first week" from South China Morning Post
The Citizen Map, an interactive mapping website launched by the South China Morning Post that allows the public to report environmental damage, has received more than 20 tip-offs since it began last week."
"Get ready for a major American bank exposé early next year, Assange tells magazine" from South China Morning Post
"Speaking to Forbes magazine, Assange said he was ready to unleash tens of thousands of documents that could "take down a bank or two." "
"The trouble with gold" from South China Morning Post
" "The argument for buying gold is psychological and emotional, not economic." "
"On the Rails" from South China Morning Post
"Experience has taught us that the more frequent response from any administration hosting such a farcical result is to become defensive, dig a trench and take up arms for its own system over any other."
"Cathay says earnings will beat HK$12.5b" from South China Morning Post
"Cathay Pacific Airways predicts full-year earnings will surpass HK$12.5 billion - a record net profit driven by robust demand for passenger and cargo traffic that will come just two years after it posted a record loss in 2008."
"Fujian bridge conquers the sea." from South China Morning Post
"A construction worker takes in the view of the 4,976-metre Pingtan Strait Bridge which opened yesterday connecting Pingtan Island with Fuqing city in Fujian province.The bridge is the province's first cross-sea bridge and cost more than one billion yuan to build. Ships of up to 5,000 tonnes can pass beneath the four-lane bridge."
"Ford boosts dealer network in inland cities" from South China Morning Post
"Ford Motor, expecting record sales in China this year, is adding 100 dealers to its network, mostly in inland cities that are replacing big, coastal regions as the major growth driver in the world's largest vehicle market."
"Fishballs stick hurts passenger" from South China Morning Post
"GUANGDONG - A man injured his face while eating fishballs on a stick in a taxi in Shenzhen on Monday, the Shenzhen Evening News reports. When the taxi driver braked suddenly to avoid hitting a pedestrian, the passenger lost his balance and the stick went through his cheek."
"The new pharaohs" from The Economist
"IT MAY not be as big as India or China, but Egypt is, like them, an ancient country that has contributed mightily to civilisation, remains central to its region and is also in the grip of momentous change."
2010/12/02
"Money falls from the sky" from South China Morning Post
"HUBEI - More than 7,000 yuan (HK$8,160) in cash flew down from the window of a high-rise apartment building in Wuhan on Tuesday and was picked up by passers-by on the streets below, the Wuhan Evening News reports. A woman appeared in the neighbourhood 90 minutes later in the hope of getting back the money. She said her sister had dropped it."
"Water plan approved" from South China Morning Post
"The State Council approved a plan to resolve water resources issues, the Ministry of Water Resources said. The mainland plans to halve water use per 10,000 yuan (HK$11,640) of gross domestic product to 120 cubic metres by 2020, compared with 2008."
"Mongolia revokes mining licences" from South China Morning Post
"The Mongolian government stunned the mining industry around the world with an announcement that it will revoke at least 254 mining licences across the country on environmental grounds."
"Capital to close last 24 coal mines" from South China Morning Post
"The final 24 coal mines in Fangshan and Mentougou districts in western Beijing will be closed by the end of this year to improve the city's environment, Xinhua reports. The two districts have already shut down about 1,900 mines."
"China Mobile, Pudong Bank tie up" from South China Morning Post
"China Mobile, the world's biggest mobile operator, has signed an agreement with the Shanghai Pudong Development Bank to co-operation in mobile finance and mobile e-commerce.This includes on-site payment and remote payment service and share customer service resources, China Mobile said in a filing with the Hong Kong stock exchange."
"BBC sells stakes in joint venture" from South China Morning Post
"BBC WorldWide is selling to Discovery Communications its 50 per cent interest in the television channels' joint venture Animal Planet and Liv for US$156 million, according to an e-mailed statement."
"Thai firm PTT invests in oil sands" from South China Morning Post
"Bangkok/Calgary: Thailand's PTT Exploration and production is to buy 40 per cent of Statoil's Canadian oil sands project for US$2.3 billion, joining an Asian investor rush into this energy source."
"Diesel shortage stops journeys to next world" from South China Morning Post
"A nationwide diesel shortage has affected not only factory operations and trucks, but also stopped people moving on to the next world.
A Chongqing funeral parlour had to suspend cremation services last weekend because it had been unable to acquire diesel for its three cremation furnaces."
A Chongqing funeral parlour had to suspend cremation services last weekend because it had been unable to acquire diesel for its three cremation furnaces."
"CNOOC signs US$20m deal with Aker Solutions Malaysia" from South China Morning Post
"China National Offshore Oil Corp has signed its first-ever contract with Aker Solutions Malaysia, a US$20 million deal for the supply of a subsea production system for the Yacheng 13-4 gas field."
"Plan to build 7 wind farms" from South China Morning Post
"XINJIANG - A 10.8 million kilowatt wind power farm will be built in Hami within five years, Xinhua reports."
"Guangzhou Railway wins residential site for 8.6b yuan" from South China Morning Post
Guangzhou Railway (Group) Corp yesterday bought a residential site next to the Guangzhou South Railway Station for 8.6 billion yuan (HK$10.01 billion) or 17,276 yuan per square metre."
"Buyouts rise as firms prepare for good times" from South China Morning Post
"Typical is Caterpillar's announcements on Monday that it will buy Bucyrus International for US$7.6 billion. Caterpillar, the world's largest maker of construction and mining equipment, was sitting on US$2.3 billion in cash at the end of the third quarter. The acquisition allows Caterpillar to add to its line of mining equipment, which is in high demand in emerging markets.
Just last week Chevron Corp. said it would buy natural gas producer Atlas Energy for US$4.3 billion, giving the oil company at entry into the rich gas fields in the eastern part of the United States.
Among the other deals in the past three months, Dove soap maker Unilever bought the VO5 haircare company Alberto-Culver for US$3.7 billion, and Southwest Airlines bought AirTran Holdings for US$1.4 billion. Drug giant Pfizer bought pain medication maker King Pharmaceuticals for US$3.6 billion and Google bought BlindType, a startup that corrects sloppy typing on mobile phones for an undisclosed price.
The deals are happening, in part, because companies have amassed a record US$1.84 trillion in cash as of June 30, according to the Federal Reserve. That was 18 per cent more than a year earlier."
Just last week Chevron Corp. said it would buy natural gas producer Atlas Energy for US$4.3 billion, giving the oil company at entry into the rich gas fields in the eastern part of the United States.
Among the other deals in the past three months, Dove soap maker Unilever bought the VO5 haircare company Alberto-Culver for US$3.7 billion, and Southwest Airlines bought AirTran Holdings for US$1.4 billion. Drug giant Pfizer bought pain medication maker King Pharmaceuticals for US$3.6 billion and Google bought BlindType, a startup that corrects sloppy typing on mobile phones for an undisclosed price.
The deals are happening, in part, because companies have amassed a record US$1.84 trillion in cash as of June 30, according to the Federal Reserve. That was 18 per cent more than a year earlier."
"Water supply restored" from South China Morning Post
"HENAN - Most water supplies for some 800,000 residents of Zhengzhou were restored on Thursday, one day after a major water main burst, paralysing the city's biggest water plant, China News Service reports."
"Property bubble concerns hinder Spain's recovery" from South China Morning Post
"All-out building in suburbs, the country and especially on the coast was the engine of the economy in the past decade. "In the last eight years, two-thirds of the homes built in Europe were in Spain," said Christian Palau, director of the online real estate advertising site Fotocasa."
"The British weekly The Economist calculated recently that Spanish properties remained 46.7 per cent overpriced. The European Commission estimates they are overpriced by 17 per cent."
"The British weekly The Economist calculated recently that Spanish properties remained 46.7 per cent overpriced. The European Commission estimates they are overpriced by 17 per cent."
"There is no end in sight to Ireland's debt crisis, but here's one thing we know: The Irish will not get kicked out of their own country." from Bloomberg Businessweek
"Creditors object that debt forgiveness will encourage bad behavior. People, they say, will borrow recklessly knowing that if things go bad they won't be required to pay it all back. This argument has merit. However, it's equally misguided for the government to guarantee penny-for-penny repayment of private debts. That encourages even more foolish lending because creditors know they'll be fully protected from the consequences of their dumb lending decision. Says Reinhart : "Before private debt becomes public, it's important that it do so at a very realistic price to it doesn't inflate the government balance sheet unnecessarily. And that means big haircuts." "
"Dominoes will fall until the euro is split" from South China Morning Post
"Who's next? First Greece went bust. Now Ireland is on the brink of a bailout from the European Union and the International Monetary Fund."
"In each country, it will be a different trigger that causes a collapse in financial confidence. The root cause is the same, though. When the euro was launched, it was a big bet that sharing the same currency would make a group of very different economies converge, and so allow the European Central Bank to operate a single monetary policy for all of them.
It was an interesting theory, but it turned out to be wrong. The economies are too different to allow a single central bank to manage all of them.
This crisis will keep moving from country to country. The only permanent fix is splitting up the euro into more manageable currency areas."
"In each country, it will be a different trigger that causes a collapse in financial confidence. The root cause is the same, though. When the euro was launched, it was a big bet that sharing the same currency would make a group of very different economies converge, and so allow the European Central Bank to operate a single monetary policy for all of them.
It was an interesting theory, but it turned out to be wrong. The economies are too different to allow a single central bank to manage all of them.
This crisis will keep moving from country to country. The only permanent fix is splitting up the euro into more manageable currency areas."
"Brewers and tobacco firms hard hit by downturn" from South China Morning Post
"Beer sales in Europe and North America rose in the recession of 2001 and 2002 for Heineken and Interbrew, the predecessor of Anheuser-Busch InBev, prompting InBev's finance chief, Felipe Durta, to remind investors of beer's status as "cheap entertainment" in a 2008 presentation."
But last year, the world's top four brewers all sold less beer than in 2008. Volumes in Europe and North America fell particularly sharply.
In some countries with a bar-drinking culture, consumers have opted en masse to drink at home. Britain's Punch Taverns this year announced plans to sell more pubs as it struggles to keep them profitable."
But last year, the world's top four brewers all sold less beer than in 2008. Volumes in Europe and North America fell particularly sharply.
In some countries with a bar-drinking culture, consumers have opted en masse to drink at home. Britain's Punch Taverns this year announced plans to sell more pubs as it struggles to keep them profitable."
"Haj goes upmarket for progressive pilgrims" from South China Morning Post
"A US$6 billion rail link will connect the two holy cities, slashing journey times, while a US$2.4 billion upgrade will increase the capacity of Medina airport from three million to 12 million passengers a year. King AbdulAziz International airport in Jeddah will also expand its capacity, from 30 million travellers by 2012 to 80 million when finished.
The al-Mashaaer al-Mugaddassah metro will cary people between Muzdalifah, Mina and Mount Arafat, important locations for pilgrimage rituals. At its peak it will transport 72,000 passengers per hour in each direction."
The al-Mashaaer al-Mugaddassah metro will cary people between Muzdalifah, Mina and Mount Arafat, important locations for pilgrimage rituals. At its peak it will transport 72,000 passengers per hour in each direction."
"The future has landed." from South China Morning Post
"A full-size fuselage mock-up of China's new home-grown large jet airliner project, the C-919, is on display at the Zhuhai air show so visitors can get a feel for its size and comfort by going aboard and trying out the seating."
"Mainland operators push ahead with 4G" from South China Morning Post
"China Mobile has already started deploying trial 4G networks based on the super-fast cellular technology called time division-long term evolution (TD-LTE) in large cities, including Shanghai, Beijing, Guangzhou, Shenzhen, Xiamen and Nanjing."
"After serving coffee around the world for 39 years, Starbucks plans to start growing its own." from South China Morning Post
"And the location for its global farm will be in Puer city in Yunnan province, which is better known for its tea."
"It would also establish a coffee development centre, a coffee farmer support centre and coffee processing facilities. The initiatives would complete Starbucks entire value-chain-from seed to cup - in China."
"Yunnan is one of the best places in China for coffee, especially the high-quality Arabica beans, thanks to its warm, mild and wet weather. China produces around 40,000 to 50,000 tonnes of coffee beans a year, with more than 90 per cent of it coming from Yunnan.
Under the agreement, Starbucks will operate the base farm and the farmer support centre, its first in Asia and third globally following Costa Rica and Rwanda."
"Starbucks is the latest in a series of major foreign corporates to invest in the province: Nestle arrived in Yunnan more than a decade ago, offering training to farmers and purchasing around 3,000 to 5,000 tonnes of coffee beans annually, and brands like Maxwell and Kraft Food also buy Yunnan coffee."
"It would also establish a coffee development centre, a coffee farmer support centre and coffee processing facilities. The initiatives would complete Starbucks entire value-chain-from seed to cup - in China."
"Yunnan is one of the best places in China for coffee, especially the high-quality Arabica beans, thanks to its warm, mild and wet weather. China produces around 40,000 to 50,000 tonnes of coffee beans a year, with more than 90 per cent of it coming from Yunnan.
Under the agreement, Starbucks will operate the base farm and the farmer support centre, its first in Asia and third globally following Costa Rica and Rwanda."
"Starbucks is the latest in a series of major foreign corporates to invest in the province: Nestle arrived in Yunnan more than a decade ago, offering training to farmers and purchasing around 3,000 to 5,000 tonnes of coffee beans annually, and brands like Maxwell and Kraft Food also buy Yunnan coffee."
"Zhuhai air show aims at national pride with array of high-tech thrills" from South China Morning Post
"The two-yearly China International Aviation and Aerospace Exhibition, first held in 1996, also known as Airshow China, is the biggest air show on the mainland featuring flying displays. It is the only such show supported by the government."
"The six-day air show will include 22 minutes of flying displays everyday, starring the PLA Air Force aerobatic team, the Pakistan Air Force's Sherdils aerobatic team and the Red Eagles from the United States, air show general manager Zhou Lewei said.
Zhou said the Sherdils would fly the FC-1 Thunder jet fighter, also known as the Xiaolong, a lightweight multi-role aircraft developed jointly by China and Pakistan."
"The six-day air show will include 22 minutes of flying displays everyday, starring the PLA Air Force aerobatic team, the Pakistan Air Force's Sherdils aerobatic team and the Red Eagles from the United States, air show general manager Zhou Lewei said.
Zhou said the Sherdils would fly the FC-1 Thunder jet fighter, also known as the Xiaolong, a lightweight multi-role aircraft developed jointly by China and Pakistan."
"LED technology is the bright idea taking root across the globe" from South China Morning Post
"Cheng Kai-chong, Asia-Pacific marketing director of Osram Opto Semiconductors - the LED unit that is part of German industrial-giant Siemens - said LED bulbs were on the verge of reaching the mass market."
"The Belgian presence in Hong Kong is strenghtening." from South China Morning Post
"It is no wonder that the Belgium-Luxembourg Chamber of Commerce has been benefiting from these developments. The new general manager, Queeny Fong, is seizing every opportunity to create added value for the members. The chamber decided to highlight the diamond sector, which has a share of 62 per cent in the Belgian exports to Hong Kong, at the annual King's Day reception at my residence. A glittering choice indeed."
"Old factories home to HK's new business of storing fine wines" from South China Morning Post
"Thomas Chu's nondescript factory looks like any other in the suburbs of Hong Kong, but it will be a key driver in the city's bid to lead the world in an emerging industry - wine storage."
"Chu's facility has been transformed from a printing factory into a wine warehouse equipped with motion detectors, chiller rooms, humidity monitors and automated temperature control."
"Chu's facility has been transformed from a printing factory into a wine warehouse equipped with motion detectors, chiller rooms, humidity monitors and automated temperature control."
"Some companies take a hands-on approach to ensuring supply." from Bloomberg Businessweek
"On Aug. 27, Nestlé launched a program to invest 500 million Swiss francs ($508.6 million) in coffee projects by 2020. Nestlé agronomists will provide advice to farmers and give them 220 million high-yield, disease-resistant coffee plants. Last October the company said it would spend 110 million Swiss francs to improve the quality of cocoa platns by 2020. Japan's Bridgestone Group just announced a similar, smaller project for growers of rubber trees.
Companies can hike prices, which could alienate customers or cause them to opt for lower-margin private label goods. At Starbucks, recent increases in the cost of buying beans and other necessities such as dairy, sugar, and cocoa led to a change in pricing strategy. On Aug. 17, Starbucks stated on its website that it intended to absorb rising bean prices on "labor-intensive and larger-sized beverages" in some markets. In a statement, Chief Executive Officer Howard Schultz said rising costs for key ingredients have "completely altered the economic and financial picture of many players in the coffee industry." "
Companies can hike prices, which could alienate customers or cause them to opt for lower-margin private label goods. At Starbucks, recent increases in the cost of buying beans and other necessities such as dairy, sugar, and cocoa led to a change in pricing strategy. On Aug. 17, Starbucks stated on its website that it intended to absorb rising bean prices on "labor-intensive and larger-sized beverages" in some markets. In a statement, Chief Executive Officer Howard Schultz said rising costs for key ingredients have "completely altered the economic and financial picture of many players in the coffee industry." "
2010/12/01
"Par-Dons, n." from Wired UK
"People who split their time travelling between Paris and London. The London Evening Standard reports that the number of Par-Dons is up 17 per cent in 2010, and the Eurostar rail service says it has recorded a "significant increase" in the number of people who made at least 20 trips between the two cities in the first half of 2010."
"A German website matchmakes worldwide need with philanthropy" from Wired UK
" "The real change will come from bottom-up approaches. We very rarely hear about the recipients of aid. We have to use SMS since many beneficiaries don't have internet access, but they all have a Nokia." "
"Ben Kacyra, an Iraqi-born engineer and entrepreneur, wants to digitise the world's most significant physical heritage." from Wired UK
"Conrad Wolfram is bringing maths to the masses with smart, seachable web apps" from Wired UK
" "Search isn't the only process." "
"From Italy to China on autopilot" from Wired UK
"Alberto Broggi and his team have spent 15 years developing a true supercar: a vehicle that runs autonomously - in any conditions. Is the future of driving really driverless?"
"Right now, a tiny Piaggio Porter minibus is making its way along the old Silk Road from Italy to China, a distance of around 13,000km."
"Right now, a tiny Piaggio Porter minibus is making its way along the old Silk Road from Italy to China, a distance of around 13,000km."
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