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UN chief Any US-N Korea talks must focus on denuclearising Korean peninsula
Secretary-General Ban Ki-moon believes any dialogue between the United States and North Korea should focus on the goal of denuclearising the Korean peninsula, a UN spokesman said Monday. UN deputy spokesman Eduardo del Buey said that Ban also believes inter-Korean dialogue is key to defusing tensions and ensuring peace on the peninsula. Ban’s spokesman was asked to comment on North ...
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N Korea Tries Nuclear Head Fake
North Korea-US: The Korean Central News Agency broadcast an important statement on 16 June. ';The spokesman for the National Defense Commission (NDC) of the Democratic People’s Republic of Korea (DPRK) issued the following crucial statement on Sunday: The present US administration is now asserting that the development of the situation depends on the DPRK, urging the DPRK to show ...
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Top Milk Producer Bulks Up in China
China’s top milk producer China Mengniu Dairy Co. 2319.HK 0.00 percent Ltd is buying a majority stake in smaller rival Yashili International Holdings Ltd, 1230.HK 0.00 percent two people familiar with the transaction said. The deal will trigger a mandatory offer for shareholders in Hong Kong-listed Yashili, which has a market capitalisation of $1.5 billion. Exactly how much Mengniu is ...
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China’s Huawei launches smartphone
Chinese telecoms giant, Huawei, will hold its first global product launch, hoping to capture market share from the industry-leaders Apple and Samsung in the highly competitive smartphone market. The firm will launch its flagship smartphone, the Ascend P6, in London. Asia Business Report asked Andrew Milroy from the consultancy Frost and Sullivan if Huawei can compete with its bigger ...
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China’s credit bubble is unprecedented Fitch
China’s shadow banking system is out of control and under mounting stress as borrowers struggle to roll over short-term debts, Fitch Ratings has warned. The agency said the scale of credit was so extreme that the country would find it very hard to grow its way out of the excesses as in past episodes, implying tougher times ahead. The debt snowball is getting bigger and bigger, without ...
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China’s May coal imports fall from April on policy uncertainty
China’s coal imports, including lignite, fell 3.9 percent in May from a month ago as worries over import policies, high overseas prices and weak local demand curbed buyers’ appetites, data from the China Coal Transport and Distribution Association showed. China is the top coal consumer and traders there said weak domestic demand and uncertainty over whether Beijing would limit ...
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Japan fears losing battle of buffets against China
Belt-tightening in Japan’s diplomatic service is cutting the quality of canapes on offer abroad, the Foreign Ministry has said, leading to fears Tokyo is losing the battle of the buffets to Beijing. Diplomats in Tokyo say China appears to be ramping up its spending on its missions while Japanese diplomats are being forced to scrimp, the ministry said. Allowances for embassy bashes have ...
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China Stimulated Its Economy Like Crazy After The Financial Crisis… And Now The Nightmare Is Beginning
China is seeing slower economic growth. Concerns are building over a massive credit bubble, and some say it is no longer an engine of global growth. Excess capacity – in which demand for products is less than potential supply – continues to be one of China’s biggest problems. An excellent piece by Jamil Anderlini in today’s Financial Times looks at how excess ...
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China’s Tianhe-2 retakes fastest supercomputer crown
A China-based supercomputer has leapfrogged rivals to be named the world’s most powerful system. Tianhe-2, developed by the government-run National University of Defence Technology, topped the latest list of the fastest 500 supercomputers, by a team of international researchers. They said the news was a ';surprise'; since the system had not been expected to be ready until ...
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China’s economy at risk of turning Japanese
Thirty years after Japan’s arrival as an economic powerhouse, the country’s industrial and economic decline is palpable. China could be on the same trajectory, says Satyajit Das. Despite a history of conflict and competition, China and Japan share a contiguous geography and development models. China may also share Japan’s economic fate. Japan’s post-war economic ...
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Bolton retires after failing to crack China
Anthony Bolton, one of the UK’s best-known and most successful fund managers, is to retire from running the Fidelity China Special Situations investment trust, admitting it had proved more difficult to make money from China than he had anticipated. Bolton came out of semi-retirement – at his request – in 2010 to set up and run the China-focused fund. He had made his name ...
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China Court Ruling Could Threaten Foreign Investments in Country
Some are calling it ';bigger than Enron'; and ';a bit of a Ponzi scheme.'; A recent ruling by the Supreme People’s Court, the highest court in China, raises an important question: Is the future in question for more than half of the 200 Chinese companies listed on the New York and Nasdaq stock exchanges? Earlier this month, my colleague, Neil Gough, wrote about the ...
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Starboard’s battle with Smithfield over China-deal adds to activist image
Since Starboard Value LP was spun off as a separate hedge fund just over two years ago it has been fast gaining a reputation for aggressive shareholder activism, pushing for change in household names including AOL (AOL.N) and Office Depot Inc (ODP.N). Initially investing in small cap value companies, Starboard quickly gained a reputation in Silicon Valley as a corporate raider, targeting ...
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Suspicions Snowden spied for China ‘groundless’ Beijing
China’s foreign ministry on Monday dismissed as ';groundless'; suspicions that former US contractor Edward Snowden spied for Beijing. ';I think it is completely groundless,'; said foreign ministry spokeswoman Hua Chunying when asked at a regular news briefing if Snowden spied for China. They were the first concrete comments from Beijing on Snowden. Last week, Hua ...
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Chinese dissident urges US to ensure family’s fair treatment
Chinese dissident Chen Guangcheng called on the United States on Friday to ensure his family in China would be treated fairly, saying his imprisoned nephew was not receiving proper medical care from Chinese authorities, whom he accused of ';hooligan tactics.'; Chen, who made international headlines last year when he escaped house arrest and spent 20 hours on the run before finding ...
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Japan’s Venture Republic invests in price comparison site Telunjuk its first deal in Indonesia
Indonesia-based price comparison site Telunjuk has landed an undisclosed round of funding from Japan-based Venture Republic, which marks the firms’s first deal in Indonesia. The investment is the latest in a series of e-commerce funding deals in Indonesia in recent times, which have included C2C marketplace Tokopedia’s latest round announced last week and GREE and Sony’s ...
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Kyocera announces $89M deal to provide solar energy to Japan’s farming community
Japan-based electronics manufacturer Kyocera announced today it is supplying approximately 30 megawatts of solar power to agricultural facilities across Japan in a deal worth 8.5 billion yen ($89 million). Kyocera will supply, engineer, construct, and maintain 30MW of solar power generating systems to the project implemented by the National Federation of Agriculture Cooperative Associations ...
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Ancient city’s complex of roads canals found hidden under dense Cambodian forest
SYDNEY, Australia -- Airborne laser technology has uncovered a network of roadways and canals in Cambodia, illustrating a bustling ancient city linking the country's famed Angkor Wat temple complex.The discovery was announced in a paper released early by the journal Proceedings of the National Academy of Sciences. The laser scanning revealed a previously undocumented, formally planned urban ...
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Cambodian Lost City Revealed with Airborne Lasers
lost city of Mahendraparvata , previously known only from 1200 year old inscriptions. Mahendraparvata, one of the first capitals of the Khmer Empire, was considered lost to history and known only by documents dating to 802 A.D. The Cambodian Archaeology and Development Foundation, searching the region of Phnom Kulen near Angkor, used an airborne laser scanning technology known as LiDAR (Light ...
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US Postal Service Unveils Music Icon Stamp Series
WASHINGTON -- Earlier this year, the U.S. postal service revealed plans for a new stamp set called Music Icons. The series shines the spotlight on three American originals. The first issue in the Music Icon series honored Lydia Mendoza, a pioneer of Tejano music, the style that comes from the Texas-Mexico border area. Lydia Mendoza was 18 years old when she walked into a San Antonio studio ...
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Turks Embrace Silent Protests
Turkish anti-government demonstrators adopted a new type of protest Tuesday - silence. Hundreds of people joined performance artist Erdem Gunduz, who stood still and silent in Istanbul's Taksim Square for hours. Demonstrations in Istanbul and Ankara have for weeks been marked by violence, with police using tear gas and water cannons against demonstrators throwing rocks and gasoline ...
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Indonesia Fund Sees Opportunity in Stock Slump Southeast Asia
PT Jamsostek , Indonesia's biggest pension fund, said the nation's benchmark stock index will extend losses, giving the manager an opportunity to boost equity holdings amid optimism about the country's economic growth. There will be short-term volatility and further declines in ...
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20 people killed in bombing at funeral in Pakistan
Police in Pakistan were trying to determine if a suicide bombing Tuesday that killed 20 mourners at a funeral was aimed at one victim, a provincial legislator. The funeral in Mardan, a small city 85 miles northwest of Islamabad in Khyber-Pakhtunkhwa, was for a man who was gunned down Monday, USA Today reported. Imran Mohmand, an independent who was elected to the provincial assembly May 11, was ...
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Lawmaker 29 others die in Pakistan blast
funeral procession at Shergarh in Pakistan's northwestern Khyber Pakhtunkhwa province on Tuesday. "(The) dead included Imran Khan Mohmand, a member of provincial assembly. The bomber entered the funeral by foot," said Tahir Ayub, a local police officer. Mohmand had joined Imran Khan-led Pakistan Tehreek-i-Insaf (PTI) party after winning a provincial assembly seat as an ...
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UN Says Libya Continues to Face Difficult Transition
NEW YORK -- A senior United Nations diplomat says Libya continues to face a difficult transition from the regime of Moammar Gadhafi, whose 42-year rule ended in ...
Pakistan Feature
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Pakistan's darkest hour
What began as the normal monsoon season has turned into the greatest disaster, the greatest humanitarian crisis and the worst floods ever seen in the history of Pakistan. According to the UN, the disaster in Pakistan from 2010 floods is now worse than the 2005 earthquake in the country and the 2004 tsunami in Southeast Asia combined.
It is a catastrophe of mammoth proportions and the challenge faced by a centrally weak government is how to get food aid to the some 6 million in need of help and provide relief facilities to the 20 million people impacted by the disaster. Read more
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