Asia

Baubles to bars: India gold culture defies curbs

"Gold has been deeply entwined in Indian culture for thousands of years. Nowadays, India is by far the world's biggest buyer of gold and those imports are an increasing drain on an economy that is growing too slowly to reduce widespread poverty. Last year Indians imported 864 tons of gold, about one fifth of world sales. The unquenchable appetite for gold coins, bars and jewelry has swelled India's trade deficit and weakened its currency, making crucial imports such as fuel more expensive. Industry experts say there are signs that higher import taxes have encouraged smuggling, which hasn't been a problem since India lifted strict gold controls more than 20 years ago." Continue reading →

Continue ReadingBaubles to bars: India gold culture defies curbs

Singaporean photographer Leslie Kee arrested for selling art book containing uncensored genitalia

"The 41 year old, who has taken pictures of a number of Japanese pop stars including Ayumi Hamasaki, Yumi Matsutoya, and Kumi Koda, as well as internationally famous models Naomi Campbell and Maggi Q, was taken into police custody along with two employees of the book’s publisher at an art gallery in Tokyo. Officials say the gallery showing for Kee’s photography was held in Tokyo’s Minami Aoyama district. It was there that the three sold seven copies of the illegal book to two different customers. The book violates Japan’s laws that require any pictures of male or female genitalia to be censored, which is most often done by pixellation." Continue reading →

Continue ReadingSingaporean photographer Leslie Kee arrested for selling art book containing uncensored genitalia

‘Anything That Moves’: Civilians And The Vietnam War

"On March 16, 1968, between 347 and 504 unarmed Vietnamese civilians were gunned down by members of the U.S. Army in what became known as the My Lai Massacre. The U.S. government has maintained that atrocities like this were isolated incidents in the conflict. Nick Turse says otherwise. In his new book, Kill Anything That Moves: The Real American War in Vietnam, Turse argues that the intentional killing of civilians was quite common in a war that claimed 2 million civilian lives, with 5.3 million civilians wounded and 11 million refugees." Continue reading →

Continue Reading‘Anything That Moves’: Civilians And The Vietnam War

Manny Pacquiao prefers to fight in China because of high U.S. taxes

"Manny Pacquiao's chief adviser insisted Monday that the Filipino superstar's preference is for his next bout – a fifth fight against Juan Manuel Marquez – to take place away from Las Vegas, with the off-shore Chinese gambling resort of Macau emerging as the 'favorite.' Michael Koncz told Yahoo! Sports that the 39.6 percent tax rate Pacquiao would face if he were to fight again in the U.S. makes a fall bout in Las Vegas 'a no go.' Promoter Bob Arum Arum said Pacquiao would not have to pay taxes if the fight takes place in casinos in either Singapore or Macau." Continue reading →

Continue ReadingManny Pacquiao prefers to fight in China because of high U.S. taxes

Anonymous gift of $250,000 in gold arrives in wrecked Japanese seaport ahead of tsunami anniversary

"A Japanese city devastated by the 2011 tsunami has received anonymous gifts of gold worth more than $250,000 in a phenomenon dubbed a 'goodwill gold rush' ahead of the second anniversary of the disaster. The president of the company which operates the port in the northeastern city of Ishinomaki last week received a parcel containing two slabs of gold each weighing one kilogram (2.2 pounds). The parcel had been sent anonymously from Nagano city northwest of Tokyo with no message. A non-profit group in Ishinomaki that has been supporting its revival had also received two kilograms of gold bullion and at least one more group got more than one kilogram." Continue reading →

Continue ReadingAnonymous gift of $250,000 in gold arrives in wrecked Japanese seaport ahead of tsunami anniversary

Anonymous gift of $250,000 in gold arrives in wrecked Japanese seaport ahead of tsunami anniversary

"A Japanese city devastated by the 2011 tsunami has received anonymous gifts of gold worth more than $250,000 in a phenomenon dubbed a 'goodwill gold rush' ahead of the second anniversary of the disaster. The president of the company which operates the port in the northeastern city of Ishinomaki last week received a parcel containing two slabs of gold each weighing one kilogram (2.2 pounds). The parcel had been sent anonymously from Nagano city northwest of Tokyo with no message. A non-profit group in Ishinomaki that has been supporting its revival had also received two kilograms of gold bullion and at least one more group got more than one kilogram." Continue reading →

Continue ReadingAnonymous gift of $250,000 in gold arrives in wrecked Japanese seaport ahead of tsunami anniversary

Rising incomes fuel India’s growing appetite for meat

"India’s booming middle-class is driving the demand for meat in a country with a traditionally low intake — a survey in 2006 showed that 40 percent of the population were vegetarian. Members of the Jain faith and some groups within India’s majority Hindu religion hold vegetarianism as an ideal. Father of the nation Mahatma Gandhi espoused a meat-free diet as part of his non-violent philosophy. But fewer of the younger generation appear to feel the same. With chicken a favourite meat, the rapid rise of the domestic poultry market is a good indication of changing diets." Continue reading →

Continue ReadingRising incomes fuel India’s growing appetite for meat

Central Bank Snuffs Out Vietnam’s Thriving Gold Market

"There is such a demand to hold gold in Vietnam that the public is now holding some 300 to 500 tons of gold, totaling U.S $30 billion. Recently, however, the Vietnamese central bank disallowed loans in gold. Now, it is preventing banks from paying interest to customers on their gold. Instead, it is forcing banks to charge customer to store their gold, and requiring banks to regularly report on their transactions with account holders. What’s happening is that the government wants to prevent citizens from using alternatives to its own quickly devaluing currency. This, way, the government can continue to steal purchasing power from its citizens through inflation." Continue reading →

Continue ReadingCentral Bank Snuffs Out Vietnam’s Thriving Gold Market

Vietnam attempts to address ‘long illness’ of public sector

"State-owned enterprises have racked up some $61 billion of debt which represents more than half of total public debt in Vietnam. Several of the SOEs have already collapsed in spectacular fashion, including shipping giants Vinashin — which ran up $4.4 billion of losses — and Vinalines, which has defaulted on payments of some $1.1 billion. Experts say the SOEs have become expert at hiding their debts, have incomprehensible strategies, hazardous investments in non-core sectors which are cunningly designed to circumvent government regulations. The top officials running the companies frequently flaunt lifestyles incompatible with their official remuneration." Continue reading →

Continue ReadingVietnam attempts to address ‘long illness’ of public sector

Vietnam jails 22 activists for subversion

"The 22 were accused of running a 'reactionary' group disguised as an eco-tourism operator, which produced documents 'slandering' the regime and distorting its guidelines and policies, according to state media. Dozens of activists have been jailed since Vietnam — a one-party state that forbids political debate — began a new crackdown on free expression in late 2009. Prime Minister Nguyen Tan Dung ordered a new crackdown on online dissent, telling authorities to fight against anyone using the Internet to 'defame and spread propaganda against the party and state'. Vietnam bans private media and all newspapers and television channels are state-run." Continue reading →

Continue ReadingVietnam jails 22 activists for subversion