BlackBerry's hoped-for turnaround fails to materialise

Thorsten Heins, the president and chief executive of BlackBerry, recalls that a year ago, when he announced a delay in the introduction of a new line of phones, he was told his company was "finished". Not so, he argued then; give us time to get this thing right.

via Business feed http://www.scmp.com/news/world/article/1271976/blackberrys-hoped-turnaround-fails-materialise

China's bank regulator talks down fears of liquidity crunch

Nawaz Sharif

via Business feed http://www.scmp.com/news/china/article/1272071/chinas-bank-regulator-talks-down-fears-liquidity-crunch

Princeling-linked Boyu Capital said to prepare US$1.5b fund

Private equity firm Boyu Capital, whose partners include former TPG executive Mary Ma and the grandson of former China president Jiang Zemin, is planning to raise its second fund and is seeking US$1.5 billion, according to people familiar with the matter.

The firm’s first fund raised US$1 billion in 2011, receiving backing from large Asian investors such as Singapore state fund Temasek Holdings and Li Ka-shing, Asia’s wealthiest person.

Boyu will launch the fund in the second half of the year, the people say, continuing its focus on investing into Chinese companies.

via Business feed http://www.scmp.com/business/companies/article/1271835/princeling-linked-boyu-capital-said-prepare-us15b-fund

China bank regulator says liquidity ample, debt risks manageable

China’s chief banking regulator said on Saturday that liquidity in China’s banking system is sufficient and pledged to control risks from local government debt, real estate and shadow banking.

Despite a cash squeeze that sent money-market interest rates soaring over the last two weeks, banks have more than enough reserves to meet settlement needs, Shang Fulin, chairman of the Chinese Banking Regulatory Commission (CBRC), said at a financial forum on Saturday.

via Business feed http://www.scmp.com/business/economy/article/1271761/china-bank-regulator-says-liquidity-ample-debt-risks-manageable

Poor English saved Japan banks from Lehman, subprime loans: minister

Japan's banks emerged from the 2008 global credit crisis largely unscathed because senior employees did not speak English well enough to have got them into trouble, the country's finance minister said yesterday.

Taro Aso, who also serves as deputy prime minister, said bankers in Japan had not been able to understand the complex financial instruments that were the undoing of major global players, so had not bought them.

via Business feed http://www.scmp.com/business/banking-finance/article/1271352/poor-english-saved-japan-banks-lehman-subprime-loans

HKMEx staff head for exit as takeover hopes fade

Many of the 100 staff at the Hong Kong Mercantile Exchange have started to leave, as hopes for new investors to take over the troubled commodities bourse fade after investigations by the police and the securities watchdog into alleged financial irregularities.

via Business feed http://www.scmp.com/business/commodities/article/1271372/hkmex-staff-head-exit-takeover-hopes-fade

China cars trail foreign rivals in customer satisfaction: JD Power poll

The satisfaction rating for local mainland cars scored only 599 points on average out of a scale of 1,000, ranking it last in comparison to other brands, according to an annual sales satisfaction survey by global auto firm JD Power, which polled 14,462 people who bought a car in the six months to February 2013.

via Business feed http://www.scmp.com/business/china-business/article/1271371/china-cars-trail-foreign-rivals-customer-satisfaction-jd

Hong Kong's free newspaper market poised for shake-up

Hong Kong's free newspaper market is bracing for consolidation. An announcement by Sing Tao News last week that it might buy Metro Daily has sparked expectations for other acquisitions and the closure of some free papers.

via Business feed http://www.scmp.com/business/companies/article/1271373/hong-kongs-free-newspaper-market-poised-shake

Chinese retail banks under pressure to embrace new technologies

Once you step into the bank outlet, the chip installed inside your credit card is recognised by a device that passes your personal information - including monthly income and outlays - to a customer manager.

via Business feed http://www.scmp.com/business/banking-finance/article/1271388/chinese-retail-banks-under-pressure-embrace-new

Chinese consumers' taste for luxury brands are evolving

Hong Kong-listed companies Chow Tai Fook, Coach and Prada have made their way inside the exclusive club of the "most sought-after luxury brands" on the mainland, a new survey says.

via Business feed http://www.scmp.com/business/companies/article/1271393/chinese-consumers-taste-luxury-brands-are-evolving

Murray Building units not for sale: Cheung Kong please note

In its preparations for selling off the Murray Building as a hotel, the government appears to have gone out of its way to make the point that there is no chance of developers being able to redevelop the site and then sell off individual units.

via Business feed http://www.scmp.com/business/article/1271345/murray-building-units-not-sale-cheung-kong-please-note

Growing pains

At the beginning of this year, Eurasia Group, the political risk firm I lead, released its top 10 risks of 2013. We gave our top slot to increasing turmoil in "emerging markets".

via Business feed http://www.scmp.com/business/economy/article/1271346/growing-pains

Pearson quashes Abu Dhabi bid report

British publisher Pearson denied a report that media mogul Rupert Murdoch and Abu Dhabi's state media group are in talks to acquire the Financial Ti...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38157

Anti-CY group plans hunger strike

The Anti-Leung Chun-ying Alliance is planning to stage a hunger strike in the evening after the July 1 march, to protest against the lack of democrati...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38156

Hang Seng, Shanghai close in positive column

Stocks in Hong Kong bounced 1.78 percent after the US Federal Reserve moved to ease concerns over its stimulus program, while China's central bank pl...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38154

CY says no officials stepping down

Chief Executive Leung Chun-ying has said that none of the principal officials in his team intend to step down. His comments came after Executive Coun...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38155

Anger over new move on landfill

A group of Tuen Mun residents have expressed anger over the government's decision to press ahead with its funding application for the massive expansio...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38153

US panel urges closer eye on Macau casinos over money laundering

A congressional advisory panel says US regulators should tighten up scrutiny of casino companies operating in the leading gambling market of Macau bec...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38152

Beijing casts Xinjiang violence as terrorism

China labelled deadly violence in the ethnically divided far western region of Xinjiang as terrorism after the death toll rose to 35. “We defined t...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38151

Europe equities in positive territory

Europe's main stock markets had a positive start following strong gains for indices over recent days. London's benchmark FTSE 100 index climbed 0.20 p...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38150

Thai cop charged over young Rohingya woman who was trafficked from shelter and raped

A policeman has been charged with trafficking after a Rohingya woman was allegedly lured from a shelter in southern Thailand and subsequently raped ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38149

(Wimbledon) Li Na battles through one more hurdle

Li Na, the Chinese sixth seed, made it past tricky opponent Simona Halep in a roller-coaster three-set second round match at Wimbledon today. Li wo...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38110

Mandela daughter deplores media hordes as ‘vultures'

Nelson Mandela's oldest daughter slammed the “crass'' media frenzy around her critically ill father, likening the press to vultures. She accused the...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38109

Bangladeshi academic’s death threat earns jail

A Bangladeshi university lecturer was sentenced to jail in absentia for threatening to kill Prime Minister Sheikh Hasina and defaming her on Faceboo...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38108

Mandela legacy will linger, says Obama

US President Barack Obama said today Nelson Mandela was a “hero for the world'' whose legacy will live on throughout the ages, as the anti-apartheid ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38107

(Football) Real confirms addition of Isco

Real Madrid confirmed on Thursday that Spanish U-21 international Isco has joined the Spanish giants from Malaga on a five-year deal. "Real Madrid a...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38106

More than 7m civil servants in mainland

There were 7.089 million civil servants in China by the end of 2012, the State Administration of Civil Service revealed Thursday. The number was up f...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38105

Nelson Mandela opens his eyes and responds to touch, daughter says

A daughter of anti-apartheid icon Nelson Mandela says he is in very critical condition but is still opening his eyes and reacting to touch at the Sout...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38104

Foreign capital to HK falls in 2012

Hong Kong's global foreign direct investment (FDI) inflows ranked the third among world economies in 2012, according to the United Nations Conference ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38103

Recession deepens Irish gloom

Ireland's bailed-out economy slumped back into recession in the second half of last year, and continued to shrink in the first quarter of 2013, offi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38102

Social media targeted by French rights body

A French consumer rights body Thursday warned Facebook, Twitter and Google+ of legal action if they do not bring privacy procedures into line with F...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38101

Singaporean claws out over Hello Kitty, police intervene

Tempers flared and police had to be called as Singaporeans rushed to McDonald's outlets to buy Hello Kitty plush toys being sold by the fastfood chai...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38100

Thai PM to tour around provinces in July

Thai premier will have field visits to seven provinces in the Central, East and Northeast on four separate trips from late June to mid July. Governme...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38099

French consumer confidence falls in June

French consumers showed more pessimism about the general economy in June, with the monthly sentiment indicator declined to 78, one point down from May...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38098

Norway, Qatar telcos win Myanmar licenses

Myanmar awarded telecom licenses today to Norway's Telenor and Qatari firm Ooredoo, the government committee in charge of the bids said, opening up o...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38097

Finnish lawmaker walks free over bribery charges

A Finnish court has acquitted former Foreign Minister Ilkka Kanerva of taking bribes, saying he had done no wrong in accepting funds for sponsoring hi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38096

CY Leung denies conflicts with CS

Chief Executive Leung Chun-ying has dismissed suggestions that there's a rift between him and his top deputy, Chief Secretary Carrie Lam Cheng Yuet-ng...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38095

CE dismisses 'feigned confusion' claim

Chief Executive Leung Chun-ying has denied that Hong Kong officials feigned confusion over Edward Snowden's middle name as an excuse not to detain him...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38094

TV station claims Ecuador gave a 'safe pass' to Snowden

Ecuador has issued a “safe pass'' transit permit for American Edward Snowden, according to the US-based Spanish-language TV network Univision, which...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38093

Nelson Mandela “very critical’’

Revered South African Nobel laureate Nelson Mandela is “very critical,’’ and “anything is imminent,’’ his daughter said. Earlier it was revealed by a...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38092

New book casts Irishman Bono as neo-con crony, world-class tax evader and bankers’ friend

Irishman Bono, aka Paul David Hewson, (pictured with former US president George W. Bush) who had been the face of philanthropy for Africa has embraced...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38091

UK economy expands in first quarter

Britain's economy expanded by 0.3 percent in the first quarter of 2013, and never experienced a double-dip recession as previously thought, official...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38090

Cannabis buds seized in Mong Kok

Hong Kong Customs yesterdayseized 1.4 kilograms of cannabis buds and arrested a local man in an anti-narcotics operation in Mong Kok. The market value...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38089

South Koreans held over Filipina brides scam

Philippines authorities have arrested two South Koreans and their four local partners who allegedly operated a mail-order bride business and rescued 2...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38088

Germany sees unexpectedly decline in unemployment

German unemployment registered a surprising fall in June when the labour market in Europe's biggest economy proved robust, official data showed on T...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38087

EU says 1 trillion euro budget deal agreed

European Commission President Jose Manuel Barroso announced a political deal on the EU's hotly contested 1 trillion euro budget for 2014-2020 Barro...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38085

Abuse of facilities in conflict raises concerns, says Red Cross

The president of the International Red Cross says his organization is gravely worried that hospitals, schools and religious centers are increasingly m...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38086

Factory boss 'hostage' released

An American businessman has been released after being held hostage for the past seven days by his own workers at a factory in Beijing. The businessman...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38084

Loans to eurzone private sector shrink further in May

Loans to the private sector in the eurozone fell further in May, the European Central Bank said on Thursday, giving a bleak insight into the economic...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38083

Sharp to produce prized LCDs in China

Struggling Japanese electronics giant Sharp on Thursday announced it would produce cutting-edge liquid crystal display panels for tablet computers, s...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38082

Another H7N9 bird flu death reported

Shanghai has reported another death from H7N9 bird flu, the local government said, bringing the total number of fatalities nationwide to at least 40...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38081

Govt confident in land supply

Housing Secretary Anthony Cheung Bing-leung says Hong Kong has sufficient land to build the 447,000 flats it's estimated will be needed to cope with d...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38080

Presale period for private flats extended to 30 months

The government is extending the presale period for private residential flats to 30 months from 20 months, said Housing Secretary Anthony Cheung Bing-l...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38079

Hang Seng closes slightly higher

Stocks in Hong Kong gained 0.50 percent following a rally on Wall Street fueled by hopes the US Federal Reserve will hold off reeling in its stimulus...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38078

Texas marks 500th execution – a woman

The US state of Texas marked a solemn moment in criminal justice, executing its 500th inmate since it resumed carrying out capital punishment in 1982....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38077

Spanish inflation up on higher fuel prices

Higher fuel costs pushed up Spain's annual inflation rate in June despite a drought in demand from consumers and businesses during a job-wrecking re...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38076

European markets open mixed

Europe's main stock markets diverged at the start of trading on Thursday after strong gains over the past two days, with London and Frankfurt slightly...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38075

US court clears way for same-sex marriage in California

In landmark rulings for gay rights, the US Supreme Court struck down a law denying federal benefits to homosexual couples and cleared the way for sam...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38074

Hong Kong shares strong again, China rebound turns tepid

China shares rose cautiously on Thursday, led by a modest rebound in financials, as fears of a credit crunch eased, boosting markets across Asia.

Hong Kong markets climbed to their highest in a week as better-than-expected China industrial profits data also helped buoy sentiment.

By midday, the CSI300 rose 0.2 per cent, while the Shanghai Composite Index was up 0.4 percent at 1,959.24 points, but both quickly pulled back from early highs.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1270247/hong-kong-shares-strong-again-china-rebound-turns-tepid

Norway’s economic star begins to lose its shine

A boiler towers over a fjord on Norway’s south coast from a 116-year-old pulp mill, the largest employer in the town of Tofte.

The 300 jobs may be gone by September, the deadline set by the loss-making plant’s Swedish owner to find a buyer or close, victim of high wage costs, the strong Norwegian currency and the debt crisis that has hurt its local European markets.

Norway, the world’s seventh largest oil exporter, is the envy of western Europe, beating everyone with 3.4 per cent growth last year and filling its coffers from oil while others were pulled under by debt.

via Business feed http://www.scmp.com/business/economy/article/1270240/norways-economic-star-begins-lose-its-shine

China to impose anti-dumping duties on European chemical

China will impose from Friday anti-dumping duties of up to 37 per cent on a chemical imported from the European Union, the Commerce Ministry said, the latest move in a string of disputes that could fuel rising tension between the trade partners.

Trade ties between China and the European Union have been strained by the imposition of a series of anti-dumping tariffs, particularly after the EU launched punitive duties on Chinese exports of solar panels.

via Business feed http://www.scmp.com/business/economy/article/1270229/china-impose-anti-dumping-duties-european-chemical

EU summit aims to rescue ’lost generation’

EU leaders begin a two-day summit on Thursday aiming to put the worst of the euro zone crisis behind them with an action plan to tackle youth unemployment now hitting one out of four European youngsters.

Warnings of a “lost generation” -- particularly in the worst affected countries of southern Europe -- are adding urgency to the talks in Brussels amid record-high disgruntlement in the streets of Europe.

“We will focus on tangible measures,” European Union president Herman Van Rompuy promised ahead of the summit, which officially kicks off at 2.30 pm GMT (10.30pm HKT).

via Business feed http://www.scmp.com/business/economy/article/1270227/eu-summit-aims-rescue-lost-generation

Better than expected profit fuels rise in China Gas Holdings

China Gas Holdings share price jumped six per cent on Thursday morning after the company unveiled a better-than-expected annual profit.

The Shenzhen-based firm, which has exclusive gas distribution concessions in 172 mainland cities, on Wednesday posted an 84.9 per cent jump in net profit to HK$1.76 billion for year to March 31. That was 21 per cent higher than the HK$1.46 billion average estimate of 21 analysts polled by Thomson Reuters.

The company’s shares were up six per cent at HK$7.73 in the morning session on Thursday.

via Business feed http://www.scmp.com/business/companies/article/1270219/better-expected-profit-fuels-rise-china-gas-holdings

Manila appeals to spare Filipina heroin courier from China death

Philippine President Benigno Aquino has asked his Chinese counterpart to spare a Filipino woman facing execution for trafficking six kilograms of hero...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38073

Pan-democrats call for bigger turnout on July 1

Pan-democratic legislators are calling on the public to join the upcoming July 1 march to press for genuine universal suffrage. They said further sup...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38072

US envoy Locke visits Tibet with family

The US Embassy in China says the American ambassador is in Tibet to check out conditions and meet with residents and officials on a rare trip to a reg...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38070

Martin Lee says hopes for full democracy slim

Former Democratic Party chairman, Martin Lee Chu-ming, says he believes the prospect of full democracy in Hong Kong looks even more bleak now than it ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38071

Customs seizes smuggled games and auto parts

Customs officers say they have seized a large haul of suspected smuggled goods at the Kwai Chung container terminal. The items, worth about HK$24 mil...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38069

Mandela on life support

Nelson Mandela is on life support in hospital, a family elder said, as South Africa's president cancelled a trip abroad following a visit to the rev...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38068

Nikkei jumps 2.9pc at close

Stocks in Tokyo jumped 2.96 percent as the market was buoyed by fading China liquidity fears and US economic data that cast doubt on whether the Fed w...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38067

Blundering Aussie minister reports Mandela’s death

Australia's Resources Minister Gary Gray apologized after mistakenly telling a business dinner that ailing South African anti-apartheid icon Nelson ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38066

Zervos says the wheels of justice are still spinning

The Director of Public Prosecutions, Kevin Zervos, has written in after reading our recent piece about cases which seem to be taking a long time coming to court.

via Business feed http://www.scmp.com/business/article/1269727/zervos-says-wheels-justice-are-still-spinning

HKEx's bet on China exposure not so simple

It's no secret that gaining access to the mainland was the primary reason Hong Kong Exchanges and Clearing (HKEx) bought the London Metal Exchange, but the vision is a long way from reality.

via Business feed http://www.scmp.com/business/banking-finance/article/1269728/hkexs-bet-china-exposure-not-so-simple

EU tackles rules on bank failures

European Union finance ministers are making a fresh attempt to set up rules on how to distribute the cost of failing banks without letting tax payers ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38042

Ecuador says Snowden asylum will take time

Ecuador could take weeks to decide on an asylum bid by Edward Snowden, the South American country's foreign minister Ricardo Patino said in Malaysia...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38041

'Protect HK' campaign aims to draw 10,000 participants

A pro-government group has announced plans to gather 10,000 citizens to take part in an anti-Occupy Central campaign. But the Voice of Loving Hong Ko...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38040

German cabinet approves budget plans

The German cabinet approved on Wednesday budget plans for the next two years, including a higher-than-planned deficit for 2013 because of the cost of...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38039

Italy denies derivatives deals

Italy's Finance Ministry denied reports it had used derivatives contracts to dress up the accounts to join the euro zone, and insisted the public acc...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38037

Six-month bond rates jump in Italy

Italy's borrowing costs rose sharply on Wednesday, reflecting fresh unease on the debt market at an auction which raised eight billion euros (HK$81 bi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38038

Volatile Rudd set to take PM’s reins in Australia

Australian Labor exile Kevin Rudd, returned as Prime Minister today appealing directly to the public on his “proven leadership.’’ Rudd came to power ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38035

Abe eyes victory in July upper house elections

Prime Minister Shinzo Abe says his ruling party must win next month's upper house elections to ensure a stable future for Japan after years of indecis...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38036

Dhaka shuts down another crumbling factory

Bangladesh shut down an eight-story factory complex after cracks appeared in a wall, triggering panic among thousands of garment workers. The cracks...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38034

One-time fugitive financier and Glencore founder Marc Rich dies

The controversial founder of Swiss commodities giant Glencore, Marc Rich, who was convicted for tax fraud and then pardoned by the then US President B...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38033

Former human rights judge refuses to represent Snowden

Spain's renowned former human rights judge Baltasar Garzon announced Wednesday his firm has declined to represent US intelligence leaker Edward Snowd...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38032

Ex-Aussie PM Rudd returns, wins Labor leadership vote

Former Australian leader Kevin Rudd is back. He prevailed in a party vote today in Canberra called by unpopular Prime Minister Julia Gillard. The La...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38031

UK newspapers rebranded after hacking scandal

The British newspaper unit of Rupert Murdoch's media empire said on Wednesday it was changing its name from News International to 'News UK' as it seek...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38030

Shenzhou-10 astronauts return to Beijing

The three astronauts that were aboard the Shenzhou-10 arrived in Beijing on Wednesday afternoon via a charter flight after completing China's longest ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38029

Food poisoning down 150 students in Hunan

Food poisoning affected over 150 students at a middle school in central China's Hunan Province on Tuesday, local authorities confirmed Wednesday. The...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38028

India's rupee touches 60 to US dollar

India's rupee touched a record low of more than 60 to the US dollar as overseas funds continue to pull out money from emerging markets. The rupee sl...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38027

Eiffel Tower closed for second day due to strike

The Eiffel Tower was closed for a second day Wednesday at the height of the Paris tourist season due to a strike by workers for better work conditions...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38026

Spanish central bank says recession easing

Spain's job-destroying recession is set to ease in the second quarter of 2013 as activity improves, the Bank of Spain said Wednesday, adding its voic...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38025

Gay couple sue French mayor over marriage refusal

A gay couple in southwestern France Wednesday pressed charges against a mayor who has refused to wed them in defiance of a landmark law allowing same-...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38024

Italy faces huge losses on derivatives: report

Italy is facing losses of about eight billion euros (HK$81 billion) on derivative contracts taken out in the late 1990s to dress up the accounts so th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38023

UK finmin to annouce spending cuts

Finance minister George Osborne will on Wednesday confirm plans to further slash Britain's state spending, with the government insistent on sticking...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38022

Rare earth prices up

Rare earth prices in China have surged about 10 percent in the past two weeks, helped by a crackdown on illegal mining, Wednesday's Shanghai Securitie...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38021

China Mobile eyes Pakistan expansion

China Mobile's potential bid for a Pakistan telco reflects a its new leaders' continuation of a muddled global expansion policy from the past

via Business feed http://www.scmp.com/comment/blogs/article/1269490/china-mobile-eyes-pakistan-expansion

China State Engineering invests US$1b in Dubai luxury hotel

China State Construction Engineering Corporation has announced a US$1 billion investment in Skai Holdings' Vicerory Dubai Palm Jumeirah project, the ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38020

Govt pulls landfill funding request

The government has withdrawn a controversial funding application to expand the landfill in Tseung Kwan O because of a lack of support. Two other prop...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38019

Japan to send conversation robot to outer space

The world's first space conversation experiment between a robot and humans is ready to be launched. Developers from the Kirobo project, named after "...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38018

Malaysia police held responsible for young Indian’s death in custody

A court in Malaysia found the police chief liable for the 2009 death in custody of a young ethnic Indian, the victim's lawyer said, in a closely wat...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38017

Senegal press critical of security measures

The Senegalese press is critical of the security measures imposed by the US security services Dakar, the capital of the West African country, for Wedn...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38016

Hang Seng leaps 2.4pc

Stocks in Hong Kong finished 2.43 percent higher as traders welcomed a move by China's central bank to ease a liquidity crisis that has hit the coun...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38015

Japan PM faces censure motion by upper house

The Japanese House of Councilors, or the upper house, on Wednesday passed a censure motion against Prime Minister Shinzo Abe, accusing him of having s...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38014

China to beef up penalties against trademark infringement

China is expected to double the compensation ceiling for trademark infringement to 2 million yuan (HK$2.52 million), according to the latest draft ame...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38013

HK waiting for reply on hacking claims

Security Secretary Lai Tung-kwok says he's disappointed that Washington hasn't yet responded to claims made by former CIA employee, Edward Snowden, th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38012

European markets open flat

Europe's main stock markets were little changed at the start of trading on Wednesday, with London's benchmark FTSE 100 index dipping 0.03 percent to...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38011

Sharp may sell IGZO LCD technology to China’s CEC: sources

Sharp Corp is considering licensing its power-saving IGZO liquid crystal display technology to China Electronics Corp as part of a plan to jointly produce panels in China, two sources familiar with the plan said.

Sharp, which was rescued from failure by its banks in October, is pursuing the partnership to expand low-cost LCD production, the sources said on condition they not be identified.

via Business feed http://www.scmp.com/lifestyle/technology/article/1269438/sharp-may-sell-igzo-lcd-technology-chinas-cec-sources

Rudd contests Labor leadership

Former leader Kevin Rudd confirmed today he will challenge unpopular Australian Prime Minister Julia Gillard in a leadership ballot called for 7pm l...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38010

SKorea to privatize to bank

South Korea's financial regulator said Wednesday that it planned to privatize the nation's No.1 banking group after splitting it into three smaller un...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38009

Educated with a dead-beat job the unseen legacy of Europe’s crisis

As the first anniversary of her graduation in eco-tourism and cultural history approaches, Linnea Borjars remains jobless and frustrated.

After finishing her studies at Sweden’s Linkoping University, the 25-year-old accepted an unpaid, part-time position at Fair Travel, a non-profit group focused on human rights and tourism, hoping it would lead to a full-time job and a salary.

But no such luck.

via Business feed http://www.scmp.com/news/world/article/1269423/educated-dead-beat-job-unseen-legacy-europes-crisis

Mongolians voting to decide president

Mongolians are casting ballots in the country's presidential election. The anti-graft incumbent is expected to hold off challenges from a popular ex-w...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38008

Australian PM opens for leadership ballot

Australian Prime Minister Julia Gillard has thrown open her job to a leadership ballot in response to reports that supporters of her intra-party rival...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38007

New Zealanders happy with work despite jobless fears

Most working New Zealanders are satisfied with their jobs and manage to achieve a good balance between work and life, the government statistics agency...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38006

More international cooperation in space program urged

A Chinese astronaut research and training official Wednesday called for international cooperation to promote the development of manned space technolog...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38005

Scalpel in hand, Chinese Premier Li stirs reform hopes

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

The central bank’s refusal to intervene last week to ease an unprecedented cash crunch, where interest rates in the interbank market shot as high as 30 per cent, was the clearest sign yet that China’s new leaders are willing to stomach economic pain for the long-term good.

via Business feed http://www.scmp.com/business/economy/article/1269409/scalpel-hand-chinese-premier-li-stirs-reform-hopes

Scalpel in hand, Chinese Premier Li stirs reform hopes

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

The central bank’s refusal to intervene last week to ease an unprecedented cash crunch, where interest rates in the interbank market shot as high as 30 per cent, was the clearest sign yet that China’s new leaders are willing to stomach economic pain for the long-term good.

via Business feed http://www.scmp.com/business/economy/article/1269408/scalpel-hand-chinese-premier-li-stirs-reform-hopes

China shares fall again despite PBOC comments, Hong Kong rebounds

China shares fell again on Wednesday as comments by the central bank failed to end worries about a cash crunch, while Hong Kong shares rebounded as investors hunted for bargains after recent market turmoil.

The “Big Four” Chinese banks extended losses in China even though the country’s short-term borrowing rates eased for a fourth day and the People’s Bank of China moved late on Tuesday to allay fears of a banking crisis. Worries have driven Shanghai shares to their lowest in nearly 4½ years.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1269400/china-shares-fall-again-despite-pboc-comments-hong-kong

BHP chief earns 200 times the average Aussie

The head of miner BHP Billiton Andrew Mackenzie gets paid about 200 times more that the average Australian, according to an Australian economist. Mik...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38004

Nikkei down 1pc at close

Stocks in Tokyo closed 1.04 percent lower, weighed down by a stronger yen and falls in Shanghai due to lingering fears about a Chinese liquidity cris...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38003

Champion Phar Lap’s genetic material under the microscope

Scientists will map the genome of Australia's greatest racehorse, Phar Lap, hoping to unlock the DNA secrets behind the champion's pace and staying ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38002

American-Vietnamese held with heroin haul

An American man could face the death penalty in Vietnam after allegedly attempting to smuggle more than one kilogram of heroin from the communist cou...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=38001

Lenders boost deposit rates to attract funds

Citibank raised its rates by 0.2 percentage point yesterday. Citigold and Citibanking will pay 1.7 per cent and 1.5 per cent per annum, respectively, for new deposits of at least HK$10,000 for two months.

via Business feed http://www.scmp.com/business/banking-finance/article/1268918/lenders-boost-deposit-rates-attract-funds

Sohu boss Charles Zhang buys China distribution rights of Sunseeker yachts

China's super-rich who have made big fortunes over the past few decades in business are now keen to acquire ultra luxurious assets after already buying so-called "hard luxury" goods like Hermes bags and Patek Philippe watches.

via Business feed http://www.scmp.com/business/companies/article/1268911/sohu-boss-charles-zhang-buys-china-distribution-rights-sunseeker

China liquidity crunch hits plan to restart IPOs after eight month freeze

On Monday, the Shanghai Composite Index plunged 5.3 per cent, closing at its lowest for nearly six months. Mainland shares suffered another volatile session yesterday as investors fretted about slowing economic growth.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1268938/china-liquidity-crunch-hits-plan-restart-ipos-after

(Wimbledon) Serena into second round

Five-time champion Serena Williams reached the Wimbledon second round with a 6-1, 6-3 win over Luxembourg's Mandy Minella. The world number one rack...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37966

Eight die in India flood rescue chopper crash

Eight people died in northern India when a rescue helicopter helping flood relief efforts crashed near a pilgrimage site, the air force announced. ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37965

US durable goods orders up 3.6pc in May

New orders for US manufactured durable goods surged for the second straight month in May, driven by aircraft orders, government data show. Durable ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37964

(Wimbledon) Li Na through to next round

Chinese sixth seed Li Na reached the Wimbledon second round with a 6-1, 6-1 win over Michaella Krajicek of the Netherlands. Li will play either Olga...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37963

American boss cornered and alone over Beijing factory pay dispute

An American factory boss in China held hostage in his office for five days by workers told AFP he will not be released until a labour dispute is res...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37962

(Football) Real Madrid names Ancelotti coach

Real Madrid has appointed Carlo Ancelotti as its new coach for three seasons after Jose Mourinho's tumultuous three-season stint. Madrid says the 54-...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37961

Ailing Mandela critical but stable says granddaughter

Ailing Nobel laureate Nelson Mandela remains in a critical condition in hospital in Pretoria, granddaughter Ndileka Mandela told AFP. She said the ant...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37960

Aviation passenger fuel surcharges unchanged

Hong Kong's Civil Aviation Department on Tuesday approved the passenger fuel surcharges for July for the period from July 1 to 31. The maximum levels...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37959

Bungling Cebu Pacific pilots barred and suspended

Philippine aviation authorities suspended two pilots from budget carrier Cebu Pacific after their plane overshot a runway, saying they should have ab...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37958

Two sites sold for HK$3.1b

The residential plots were sold for a total of HK$3.16 billion, the Lands Department said today. Chime Corporation beat six other bidders to grab the...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37957

China, India to hold border talks

Special representatives from China and India will meet in Beijing from Friday to Saturday to discuss border issues, a Foreign Ministry spokeswoman sai...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37956

HKND chief Wang assures he can deliver US$40b Nicaragua shipping canal

Wang Jing (pictured), the businessman behind the plan to build a waterway across Nicaragua to rival the Panama Canal said in Beijing today that his am...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37955

Rating firms face challenges

Mainland credit rating company, Dagong, and its Russian and US partners are launching a new venture to challenge the dominance of the major ratings ag...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37954

Thailand to review rice price cut amid protest

The Thai government on Tuesday agreed to promptly review last week's decision to cut the rice price by US$100 a ton in response to protesting farmers....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37953

Russia does not take kindly to US threats over Snowden

Russia denied it had any involvement in the travels of American Edward Snowden who exposed secret US and British surveillance worldwide and lashed o...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37952

IOC report shows high quality bids for 2020 Games

The IOC says Istanbul, Madrid and Tokyo all offer "high quality'' bids for the 2020 Olympics. An IOC technical report released on Tuesday says the th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37951

HK exports surprisingly shrink in May

Hong Kong recorded an unexpected decline in exports in May, and growth in imports also failed to beat expectations, theCensus and Statistics Departmen...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37950

Fosun raises Club Med offer

The Chinese group Fosun and a French investment fund have raised their bid for up-market holiday firm Club Mediterranee and the board has voted for ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37949

Asia markets losses continue

Asian markets mostly fell today owing to growing concerns about a liquidity crisis in China, although Shanghai managed to claw back some ground afte...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37948

EU agrees to reopen membership talks with Turkey

European Union ministers agreed Tuesday to reopen Turkey's accession talks despite reticence from Germany and others over Ankara's tough crackdown o...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37947

China rejects US claims on Snowden case

China says the accusations by the US of Beijing facilitating the departure of fugitive American spy agency contractor Edward Snowden from Hong Kong we...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37946

Loss-making ANA-AirAsia budget venture flops

Japan's All Nippon Airways and Malaysia’s AirAsia said they have agreed to terminate their budget carrier joint venture as business slumped amid mana...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37945

European court says Google not responsible for information

The European Court of Justice has said that Google and other search engines are not responsible when personal information appears on web pages they in...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37944

Budget airway by ANA, AirAsia terminated

Japan's All Nippon Airways and AirAsia said Tuesday they have agreed to terminate their budget carrier joint venture as business slumped amid manageme...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37943

China stocks swing wildly as markets fret over crisis risk

Chinese stocks plunged to their lowest since the global financial crisis on Tuesday after the central bank turned off the taps for cheap cash, but markets rallied late in the day on hopes authorities would step in to prevent a crisis.

The immediate fears of a cash crunch that saw banks scramble for funds as interest rates spiked last week have moderated, but the expectation conditions will remain tight has raised doubts about banks’ earnings and the outlook for the whole economy.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1268659/china-stocks-swing-wildly-markets-fret-over-crisis-risk

Hang Seng reverses losses to end 0.2pc higher

Hong Kong stocks rose 0.21 percent on Tuesday, reversing earlier losses on bargain hunting but traders remain concerned about a liquidity crisis in ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37942

ECB has no plans to change rates for now

The European Central Bank has no intention of altering eurozone interest rates for the time being, as economic conditions remain weak, executive boa...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37941

HKND boss outlines grand plans for Nicaraguan canal

The mystery man who piqued the interest of the world with his US$40 billion plan to build a canal across Nicaragua finally met the media on Tuesday to outline his grand vision.

Wang Jing, chairman of HKND which has won a concession to design, build and manage a canal to rival Panama’s was upbeat about the project, despite its huge costs.

Earlier this month, it was reported that the company’s bet on the canal was based on the US shale revolution, which will require bigger tankers which the Panama Canal will not be able to handle.

via Business feed http://www.scmp.com/business/companies/article/1268656/hknd-boss-outlines-grand-plans-nicaraguan-canal

Tamil fund manager Rajaratnam’s conviction stays

A federal appeals court in New York City is upholding the conviction of a former Tamil fund manager on insider trading charges. Lawyers for Sri Lanka...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37940

Martial artist Lau Kar-leung dies at 78

Local martial artist and director Lau Kar-leung lost his fight against lymph cancer and died at the Union Hospital around 10am today. Lau, 76, had bat...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37939

Beijing rounds on US over Snowden accusations

China called a US claim that it had facilitated the departure of former security contractor Edward Snowden from Hong Kong “groundless,’’ after Wash...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37938

Unpopular Gillard spins a cute tale

Embattled Australian Prime Minister Julia Gillard has revealed she is knitting a red kangaroo for the first baby of Prince William and his wife Kate...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37937

European markets rebound at open

Europe's main stock markets rebounded at the start of trading on Tuesday, with London's benchmark FTSE 100 index up 0.72 percent at 6,072.49 points. ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37936

Mandela family asks media to back off

Nobel laureate Nelson Mandela spent a second night in critical condition in hospital, with his family members, compatriots and well-wishers worldwide ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37935

HK eyes regional commodity pricing center

Hong Kong stands ready to become the pricing center for commodities markets in the Asia region, the city's Secretary for Financial Services and the Tr...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37934

Shanghai shares touch new low

Shares in Shanghai closed down 0.19 percent to finish at their lowest level in more than four years on persistent worries over a domestic liquidity ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37933

Australian motor industry wants more guidelines from govt

The Australian Motor Industry Federation (AMIF) on Tuesday called on the Australian government to recognize the challenges the industry has been faced...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37932

New agency has big three rating agencies firmly in its sights

Already under fire for their role in the subprime crisis, Fitch, Moody’s and Standard & Poor’s (S&P) are now in the sights of Dagong Global Credit Rating, which has formed a joint venture agency with Russian and US partners.

The JV, backed by a combined US$300 million (HK$2.33 billion) from Dagong, RusRating and Egan Jones - Dagong has formed Universal Credit Rating Group (UCRG), which is seeking backers from emerging market economies.

via Business feed http://www.scmp.com/business/banking-finance/article/1268628/new-agency-has-big-three-rating-agencies-firmly-its-sights

Pippen questioned in assault case

US authorities said Monday that they had questioned National Basketball Association hall-of-famer Scottie Pippen in connection with an alleged assau...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37931

Legco to seek powers for RTHK probe

A Legco panel is to seek special powers to investigate claims by a senior RTHK officer that he'd been subjected to political pressure. An acting assis...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37930

Three women get 2 months for prison scam

Three women have been jailed for two months each for being paid by a syndicate to pose as friends to deliver goods to prisoners. This evaded prison ru...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37929

Toyota boss get 35pc pay raise

The boss of the world's biggest automaker, Toyota, saw his pay packet swell by a third last year, filings showed Tuesday, but to a level that sees h...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37928

Workers seek unpaid wages from American in Beijing

An American executive held in his Beijing medical supply plant by angry workers said he is waiting for his lawyers to arrive to resolve a compensation...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37927

Seoul issues cyber attack alert

South Korea issued a cyber attack alert Tuesday after hackers penetrated a number of official websites, including the presidential Blue House, on th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37926

Nikkei closes in negative column

Stocks in Tokyo fell 0.72 percent as the yen strengthened and concerns over a Chinese liquidity crisis spurred late selling. The benchmark Nikkei 22...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37925

Snowden feared losing laptops, if detained, says lawyer

In the buildup to his 30th birthday last week, American Edward Snowden came to the sudden realization over a dinner of pizza and Pepsi that Hong Kon...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37924

China shares hit 4½-year low as banks sink again, Hong Kong down too

China shares slumped to their lowest since early 2009, reversing Hong Kong gains on Tuesday morning, with losses accelerating for mid-sized banks as mainland interbank rates started climbing, deepening market jitters.

By midday, the weighted-average seven-day repo rate was slightly higher than it closed at on Monday after the Chinese central bank on Tuesday opted to stand pat at the first of two scheduled open market operations this week.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1268608/china-shares-hit-412-year-low-banks-sink-again-hong-kong

Germany gaining in business confidence

German business confidence increased for a second month this month amid signs of a recovery in Europe's largest economy, even as the euro zone struggles to emerge from recession.

via Business feed http://www.scmp.com/business/economy/article/1268222/germany-gaining-business-confidence

Moody's downgrades Hong Kong banking system to 'negative'

Moody's Investors Service downgraded the outlook for Hong Kong's banking system to negative from stable, citing concerns over persistent negative real interest rates and banks' growing exposure to the mainland.

via Business feed http://www.scmp.com/news/article/1268237/moodys-downgrades-hong-kong-banking-system-negative

Small and medium banks worst hit by liquidity crunch

Bank shares slumped yesterday after small and medium-sized lenders were singled out by analysts as being worst hit by the liquidity crunch in the mainland's interbank market.

via Business feed http://www.scmp.com/business/banking-finance/article/1268223/small-and-medium-banks-worst-hit-liquidity-crunch

Saudi Arabia changes weekend

Saudi Arabia will shift its weekend to Friday and Saturday from next week, taking the biggest Arab economy a step closer to opening its US$400 billion stock market to foreign investors.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1268191/saudi-arabia-changes-weekend

Only nod by Beijing can make commodities dream come true

Without Hong Kong Exchanges and Clearing's £1.39 billion (HK$16.6 billion) purchase of the London Metal Exchange last year, it is hard to imagine 1,000 commodities traders, producers and end users flying to Hong Kong to attend a three-day seminar.

via Business feed http://www.scmp.com/business/commodities/article/1268221/only-nod-beijing-can-make-commodities-dream-come-true

No more rankings, panel tells World Bank

An independent panel set up by the World Bank to look at the validity of one of its highest-profile country reports said yesterday that the bank should stop producing headline rankings because they might be misleading.

via Business feed http://www.scmp.com/business/banking-finance/article/1268186/no-more-rankings-panel-tells-world-bank

China economy weakens broadly, particularly retail, Beige Book shows

The mainland economy is weakening across the board, with the previously robust retail and services sectors now starting to see slippage in revenue growth, according to the findings of a new nationwide survey.

via Business feed http://www.scmp.com/business/economy/article/1268228/china-economy-weakens-broadly-particularly-retail-beige-book-shows

China property bonds lead tumble

China's builders have been the world's worst-performing property bonds this quarter as Beijing allowed a record cash crunch to rebalance the economy away from property investment.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1268216/china-property-bonds-lead-tumble

'Black Monday' in Shanghai as China shares plunge over cash crunch

The Shanghai Composite Index plunged 109.86 points, or 5.3 per cent, to 1,963.24, the largest daily drop since August 31, 2009. It was also the lowest close since December 3, 2012.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1268231/black-monday-shanghai-china-shares-plunge-over-cash

Moral hubris drives talk about corporate social responsibility

He's right. I don't understand what CSR really is, and I live in Asia. What is more, I don't think you have to live in Asia to lack understanding of what CSR really is. Any place will do when everyone has a different definition and it changes daily.

via Business feed http://www.scmp.com/business/article/1268227/moral-hubris-drives-talk-about-corporate-social-responsibility

Entrusted loans drive shadow lending in China as SOEs abuse cheap credit

Chinese companies are getting more creative in the business of money lending as they struggle to keep profits ticking over in a cooling economy, raising concerns they are adding to the mountain of debt risks building in the world's No 2 economy.

via Business feed http://www.scmp.com/business/banking-finance/article/1268207/entrusted-loans-drive-shadow-lending-china-soes-abuse-cheap

(Wimbledon) Federer over first hurdle

Defending champion Roger Federer eased into the Wimbledon second round on Monday with a 6-3, 6-2, 6-0 win over Romania's Victor Hanescu. The third-...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37905

(Snowden-update) Ecuador FM confirms whistleblower landed in Russia, but refuses to reveal more

Ecuador’s foreign minister Ricardo Patiño Aroca, who is in Hanoi, told a media briefing just minutes ago the country will act according to the framew...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37904

Ecuador FM schedules Hanoi briefing

Ecuador’s foreign minister Ricardo Patiño Aroca, who is in Hanoi, is set to hold a holding a press conference soon, the Guardian reports, citing a Twe...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37903

(Wimbledon) Puerto Rican downs Errani in straight sets

Italian fifth seed Sara Errani became Wimbledon's first major victim when she slumped to a 6-3, 6-2 defeat to Puerto Rican teenager Monica Puig. Er...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37902

(Cricket) Aussies name racial abuser Lehmann skipper

Darren Lehmann, a former opener, was appointed the new coach of the Australia cricket team after Mickey Arthur was sacked just 16 days before the firs...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37901

(Football) China gives Camacho the boot

China's Football Association says it has sacked national team coach Jose Antonio Camacho following a 5-1 loss to Thailand. A statement posted to the ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37900

Ageing population addes financial pressure: officials

China will face financial pressure to cover the growing population of senior people with its social insurance funds, a government official said on Mon...



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(Football) Low attendance in U20 tournament sparks concerns

The empty seats that have greeted teams at the Under-20 World Cup in Turkey are a disappointment to FIFA. Jim Boyce, the chairman of the FIFA Organiz...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37898

Thai rice farmers to protest against price cut

Thai rice farmers will gather en masse outside Government House on Tuesday in protest of the government's decision to cut the rice price. Led by the ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37897

PBOC told banks to control liquidity risks

China's central bank on Monday told the country's over-extended lenders to manage liquidity risks to stabilize the monetary environment. In a stateme...



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Snowden may have given press hounds the slip

American whistleblower Edward Snowden is likely to have left Russia after arriving in Moscow from Hong Kong, Interfax quoted a source familiar with t...



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Hunger strike against landfill plan

Sai Kung District Councillor Christine Fong Kwok-shan has started a 35-hour hunger strike with several opponents of the expansion of the Tseung Kwan O...



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Suspected Jewish extremists damage 20 Palestinian cars

Suspected Jewish extremists punctured the tyres of more than 20 Palestinian cars in east Jerusalem today in the latest apparent “price tag'' hate cr...



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CY says Snowden case highlights rule of law

Chief Executive Leung Chun-ying says the decision to allow US whistleblower Edward Snowden to leave Hong Kong yesterday is a good example of the maint...



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Brother held over Alps killing of British-Iraqi

British media reports say police have arrested the brother of a British-Iraqi man slain with three other people last year in a remote area of the Fren...



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Hutch to buy stake in Spain's Telefonica

Spanish telecom giant Telefonica said on Monday it will sell its Irish subsidiary to Hutchison Whampoa (0013) for 850 million euros (HK$8.5 billion) i...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37890

US warns China, Russia over Snowden handling

US Secretary of State John Kerry said Monday it was "disappointing'' that intelligence leaker Edward Snowden had been able to fly from Hong Kong to R...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37889

Liquidity crunch chokes Shanghai, Asian shares hit by heavy losses

Asian markets tumbled today, extending last week's falls after the US Federal Reserve indicated it could reel in its stimulus later in the year, whi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37888

Russian carrier says Snowden not on Cuba flight

American whistleblower Edward Snowden was not on board today's Aeroflot flight from Moscow to Havana, despite previous reports that he was checked-i...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37887

Ex-convict French tycoon Tapie held over Lagarde scandal

French investigators placed tycoon Bernard Tapie in custody as they prepared to interrogate him in a corruption probe that has embroiled IMF chief C...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37886

Myanmar deplores Time for insulting Buddhists and for ignorance of its reporter

Myanmar has reacted angrily to a Time magazine cover story on a prominent radical monk accused of fueling anti-Muslim violence, accompanied by the hea...



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HK says not notified that Snowden's passport was revoked

The Immigration Department said today that so far no notification has been received from the United States Government of Edward Snowden's passport bei...



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(Confed Cup) Impotent Japanese Samurai feeling blue

Alberto Zaccheroni's future as Japan coach was under scrutiny after their winless exit from the Confederations Cup in Brazil, the warm-up for next y...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37883

China dodges claims on role in Snowden departure

China on Monday sidestepped allegations it orchestrated the departure of former US intelligence contractor Edward Snowden from Hong Kong, which infu...



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Portugese market slumps on decling bank shares

Portuguese bank shares plunged by up to 5.0 percent in morning trading on Monday, helping to drive down the main stock index by 3.03 percent to 5,28...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37881

Sri Lanka imports swell, deficit baloons

Sri Lanka's imports jumped nearly 6 percent in April, reversing a year-long trend and indicating stronger domestic economic activity, the central ban...



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German business confidence slightly higher

German business confidence continued to edge higher in June, data showed, as businesses in Europe's top economy become increasingly optimistic about...



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Israel’s African tent camp an inhumane prison

Hundreds of African migrants are languishing in a desert detention center in southern Israel, where families may only meet once a week and where women...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37878

Snowden booked on Cuba flight

Whistleblower Edward Snowden is set to leave Moscow for Cuba, the next step on his journey to seek asylum in Ecuador. A representative of Aeroflot to...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37877

Europe markets retreat

Europe's main stock markets slid at the start of trading. London's benchmark FTSE 100 index was down 0.15 percent to 6,106.82 points. Frankfurt's D...



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Shanghai shares hammered, down 5pc

Shares in Shanghai slumped 5.30 percent by the close as the government refused to pump fresh cash into financial markets despite a growing cash crun...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37875

(Cricket) Skipper Clarke sheds selector job

Australian cricket captain Michael Clarke has resigned as a selector of the team just hours after coach Mickey Arthur was sacked, a report said. Fa...



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Japanese man dies in hot air balloon accident

An elderly Japanese man plunged to his death in a lake after falling out of a hot air balloon, police said Monday. Takuo Hayasaka, 70, was thrown fr...



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Air Pacific stops carrying 'unsustainable' shark fins

Fiji's national carrier Air Pacific announced Monday it will no longer carry shark fins that come from unsustainable or unverified sources. The air...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37872

NZ’s Synlait Milk to raise NZ$120m in IPO, share sell-down

New Zealand dairy company Synlait Milk plans to raise a total of NZ$120 million (HK$720.2 million) in an initial public offering and share sell-down, ending the majority stake held China’s Bright Dairy.

The milk powder processor owned by Shanghai-based Bright, Japan’s Mitsui and Synlait, a private local company, said it was seeking to raise NZ$75 million (HK$450.1 million) in fresh capital. Mitsui and Synlait Ltd will offer a further NZ$45 million (HK$270.1 million) to pay down debts and expand operations.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1267857/nzs-synlait-milk-raise-nz120m-ipo-share-sell-down

Shanghai slumps more than 5pc in afternoon

Chinese shares slumped more than five percent on Monday as the government showed little willingness to address a liquidity squeeze in the domestic f...



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Nikkei erases gains, ends lower

Tokyo stocks closed down 1.26 percent on Monday, giving up early gains that were stoked by a solid victory for Prime Minister Shinzo Abe's ruling coal...



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Liquidity concern sends Shanghai below 2,000

Chinese shares slumped more than three percent in afternoon trade on Monday and fell below a key level as the government showed little willingness to ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37868

Albert Ho suspects China hand in Snowden exit

A Hong Kong legislator revealed he had acted as Edward Snowden's lawyer, and said he suspected Beijing orchestrated the American’s departure from th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37867

Rainstorm signal cancelled

The Observatory cancelled call rainstorm warning at noon. Earlier today, more than 100 millimeter of rainfall was recalled in the New Territories, La...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37861

Asia stocks fall after China aims at shadow loans

Asian stocks sank on Monday after China allowed commercial lending rates to soar in a move analysts said was aimed at curbing a booming underground lending industry.

Analysts say the spike late Thursday in the country’s interbank lending rate to over 13 per cent was part of an effort to trim off-balance-sheet lending that could threaten the financial stability of the world’s second-largest economy.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1267799/asia-stocks-fall-after-china-aims-shadow-loans

Investor risk lurks in legal structure of China IPOs: lawyers

As the US market for Chinese stock offerings revives, some experts are warning that American investors could be left out in the cold if a company faces problems, due to an unusual business structure employed by many Chinese companies.

The structure, known as a variable interest entity, or VIE, is designed to let companies bypass Chinese government bans on foreign ownership in some business sectors.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1267794/investor-risk-lurks-legal-structure-china-ipos

Jego suspension: China Mobile's latest mixed signal

China Mobile's reversal on its new Jego service is its latest mixed signal on a key strategic issue, reflecting dysfunction within the company

via Business feed http://www.scmp.com/comment/blogs/article/1267784/jego-suspension-china-mobiles-latest-mixed-signal

Former development minister guilty of fraud

Former development secretary Mak Chai-kwong and an assistant highways director, Tsang King-man, have been found guilty in the District Court of cross-...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37860

Rainstorm signal lowered to Amber

The Observatory issued an Amber Rainstorm warning signal, after having a higher level of warning at red earlier. Heavy rainfall of over 30 millimeter ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37859

British killer Hennessy held in Australia after 15 years

A British man who killed his aunt by stabbing her 70 times and who has been on the run for 15 years after escaping from prison in England has been a...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37858

Nikkei sheds early gains

Stocks in Tokyo were flat by the break, giving up early gains that were stoked by a solid victory for Prime Minister Shinzo Abe's ruling coalition i...



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(NBA) Bryant has no plan to retire yet

Kobe Bryant has raised the prospect of extending his decorated NBA career until his late 30s. Speaking during a visit to Brazil on Sunday, the 34-yea...



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(Confed Cup) Injury forces Balotelli out of semifinal

Mario Balotelli has been ruled out of Italy's Confederations Cup semifinal against Spain here on Thursday with a thigh injury. The 22-year-old AC Mil...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37855

Guardian’s Greenwald skewers NBC's Gregory for taking Washington line criminalizing journalists

NBC TV news show host David Gregory got a rise out of Glenn Greenwald on Sunday by asking the Guardian reporter why he should not be charged with a cr...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37854

50mm of rainfall forecast for city, red alert raised

Heavy rainfall today could exceed 50 millimetres in an hour, the weather watchers said at 10:20 am today, warning that the red rainstorm alert is in e...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37853

Amid China market stand off, calls for a more transparent central bank

China’s central bank rarely explains its actions in public and keeps markets guessing on policy, but the angst created by its stand off with banks in the money markets is prompting calls for it to change tack.

The People’s Bank of China (PBOC) let short-term interest rates spike to extraordinary levels this past week as it refused to inject funds into money markets.

Some observers saw it as an attempt to force banks to stop channelling money into the informal banking sector, known as “shadow banking”, which authorities worry is creating significant credit risks.

via Business feed http://www.scmp.com/business/banking-finance/article/1267770/amid-china-market-stand-calls-more-transparent-central-bank

Rio Tinto decides to hang on to diamonds business

Global miner Rio Tinto Ltd has scrapped the planned sale of its diamonds business, valued in its books at US$1.3 billion (HK$10.1 billion), amid a slide in global financial markets and a tough environment for commodity asset sales.

The decision announced on Monday marks the first of a string of planned asset sales that the world no.3 miner may have to scrap in face of cautious bidders.

via Business feed http://www.scmp.com/business/companies/article/1267764/rio-tinto-decides-hang-diamonds-business

(Champions Trophy) India pull through in tight final

(India cemented their status as the king of one-day cricket _ but needed to win what was effectively a Twenty20 international to do so. With 16 balls...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=37852

Venezuela to ease foreign exchange regime: source

Venezuela will make its foreign currency system more flexible by reviving a stalled dollar auction scheme in July and after that allowing a revival of a free-floating secondary currency mechanism, a source in the government’s economic team said.

Venezuela has operated currency controls for a decade, and restricted access to dollars at the official rate of 6.3 bolivars are a major gripe for local businesses and a cause of the OPEC member’s slowing growth rate.

via Business feed http://www.scmp.com/business/economy/article/1267761/venezuela-ease-foreign-exchange-regime-source