Asia

Google unveils detailed North Korea map… with gulags

"Google has rolled out a detailed map of North Korea that even labels some of its remote and infamous gulags. Until now North Korea was pretty much a blank canvas to users of Google’s Map Maker, which creates maps from data that is provided by the public and fact-checked in a similar process to that used by Wikipedia. Mr Mysore said the North Korea section had been completed with the help of a 'community of citizen cartographers' working over a period of several years." Continue reading →

Continue ReadingGoogle unveils detailed North Korea map… with gulags

Indian Jeweler Becomes Billionaire as Gold Price Surges

"T.S. Kalyanaraman opened a shop in the southern Indian state of Kerala in 1993 and taught customers how to test the purity of their gold to expose cheating craftsmen. He was also the first jeweler in town to attach price tags to his gold and gem collection, angering competitors who accused him of ruining the trade. Two decades later, the 65-year-old has become a billionaire as a 12-year rally in gold prices fails to damp demand in India, the world’s largest consumer of the precious metal. He owns 44 stores in India and plans to open 36 more by March 2014, including five in the Middle East." Continue reading →

Continue ReadingIndian Jeweler Becomes Billionaire as Gold Price Surges

It might not get weirder than this: Sophie Schmidt in North Korea

"Ordinary North Koreans live in a near-total information bubble, without any true frame of reference. I can't think of any reaction to that except absolute sympathy. My understanding is that North Koreans are taught to believe they are lucky to be in North Korea, so why would they ever want to leave? They're hostages in their own country, without any real consciousness of it. And the opacity of the country's inner workings--down to the basics of its economy--further serves to reinforce the state's control. The best description we could come up with: it's like The Truman Show, at country scale." Continue reading →

Continue ReadingIt might not get weirder than this: Sophie Schmidt in North Korea

North Korea grants rare citizenship to American businessman

"The US boss of a joint venture run by North Korea and the Unification Church of South Korea said Tuesday he has been granted rare honorary citizenship by Pyongyang, in a bid to encourage new investment by him. Park Sang-Kwon, CEO of Pyeonghwa Motors told South Korea’s Yonhap news agency that he received the citizenship in Pyongyang last month. 'This means that North Korea has acknowledged the trust they had put in me. They were also encouraging me to start new projects in the North, more freely and aggressively,' Park was quoted as saying." Continue reading →

Continue ReadingNorth Korea grants rare citizenship to American businessman

Rich Taiwanese give up U.S. passports over FATCA

"A number of Taiwan residents with dual nationalities have chosen to renounce their American citizenship to avoid taxes under FATCA, formally known as Foreign Account Tax Compliance Act, according to local media reports. Ruling Kuomintang Legislator Lai Shyh-bao was quoted as saying that scores of owners of small- and medium-sized enterprises and management executives have begun proceedings to relinquish their U.S. citizenship." Continue reading →

Continue ReadingRich Taiwanese give up U.S. passports over FATCA

U.S. Navy ship stranded on World Heritage-listed coral reef ignored warnings

"A US Navy minesweeper that has been stuck on a World Heritage-listed coral reef in the Philippines since last week ignored warnings to avoid the area, a government official said on Monday. The comments from the superintendent of Tubbataha marine park, Angelique Songco, added to growing anger in the Philippines over the incident, for which the US Navy has apologised but may still face fines. Park rangers radioed the USS Guardian to advise it was nearing the Tubbataha Reef on Thursday, but the ship captain insisted they raise their complaint with the US embassy, Songco told reporters." Continue reading →

Continue ReadingU.S. Navy ship stranded on World Heritage-listed coral reef ignored warnings

Japan should let elderly ‘hurry up and die’: finance minister Taro Aso

"Japan’s finance minister Taro Aso said Monday the elderly should be allowed to 'hurry up and die' instead of costing the government money for end-of-life medical care. Ageing is a sensitive issue in Japan, one of the world’s oldest countries, with almost a quarter of its 128 million people over 60. That figure is expected to rise to 40 percent within the next half-century. At the same time a shrinking number of workers is placing further strain on an already groaning social security system, with not enough money going into the pot to support those who depend on it." Continue reading →

Continue ReadingJapan should let elderly ‘hurry up and die’: finance minister Taro Aso

U.S media brings glitz to increasingly urbane Mongolia

"Mongolians are avid readers and the country’s literacy rate is over 97 percent, a legacy of the Soviet-era education system which saw village boarding schools set up for nomads’ children. Even in the vast nation’s distant grasslands herdsmen are to be found reading crumpled two-week-old newspapers inside their felt-covered yurts. With its economy roaring on the back of a mining boom that fuelled 11 percent growth last year publishers now see opportunities from targeting newly wealthy Mongolians with premium-priced, Western-linked products." Continue reading →

Continue ReadingU.S media brings glitz to increasingly urbane Mongolia

The Basket Case Sometimes Known as Japan

"Japan may be the poster child for reckless and irresponsible tax and spending policy. Even though the public sector already is far too big and even though the government has incurred more debt than any other developed economy, the new Prime Minister thinks another Keynesian stimulus package is the recipe for economic revival. I’m not joking. Even though the economy has been stagnant for 20 years – a period that has seen several so-called stimulus schemes, the government wants to throw good money after bad." Continue reading →

Continue ReadingThe Basket Case Sometimes Known as Japan

Study: Companies from emerging markets will shape global economy in next decade

"The top 100 fast-globalising companies from rapidly developing economies are outpacing their rivals from developed economies in terms of expansion, job creation and productivity, said the Boston Consulting Group (BCG) study. These companies, which it called global challengers, grew at an annual average of 16 percent from 2008 through 2011, four times the rate of their competitors in developed countries. Their average revenue hit $26.5 billion (20 billion euros) in 2011, compared to $21 billion for the non-financial companies listed on the S&P 500 stock index." Continue reading →

Continue ReadingStudy: Companies from emerging markets will shape global economy in next decade