Asia

Bank of Japan likely to ease again next week via asset buying

"The Bank of Japan will likely ease monetary policy next week, sources say, as looming risks such as the potential fallout from the U.S. fiscal cliff and weak Chinese growth continue to cloud the outlook for an economy already seen as in recession. The most likely option is for the central bank to expand its asset-buying and lending programme, currently at 91 trillion yen ($1.1 trillion), by another 5-10 trillion yen, at the meeting on Dec. 19-20. The central bank has been under intense pressure to become bolder in its efforts to beat deflation ahead of a lower house election on Dec. 16, which polls suggest the main opposition Liberal Democratic Party (LDP) will win." Continue reading →

Continue ReadingBank of Japan likely to ease again next week via asset buying

Singapore Eases Death Penalty in Some Drug Cases

"The parliament of Singapore has approved legislation abolishing mandatory death sentences in some drug trafficking cases. The action came last Wednesday, according to a press release from the Singapore Attorney-General's Chambers. Under the reform, judges will be able to commute some death sentences to sentences of life in prison. Before, judges were forced to impose the death penalty on persons trafficking drugs above certain specified quantities." Continue reading →

Continue ReadingSingapore Eases Death Penalty in Some Drug Cases

World’s First 3D Printing Photo Booth to Open

"What’s being called the world’s first 3D printing photo booth is set to open for a limited time at the exhibition space EYE OF GYRE in Harajuku. From November 24 to January 14, 2013, people with reservations can go and have their portraits taken. Except, instead of a photograph, you’ll receive miniature replicas of yourselves." Continue reading →

Continue ReadingWorld’s First 3D Printing Photo Booth to Open

India unveils new version of ‘world’s cheapest tablet’

"The paperback-book-sized Aakash 2, developed by Indian engineers at elite IIT public universities, runs the Google operating system Android 4.0 and has a screen measuring seven inches (18 centimetres) wide. The first 100,000 devices will be sold to students at engineering colleges and universities at a subsidised price of 1,130 rupees (20 dollars) and subsequently Aakash 2 will be distributed to book stores in Indian universities. Datawind says the commercial sale price without subsidies for Aakash 2 is 3,500 rupees (64 dollars)." Continue reading →

Continue ReadingIndia unveils new version of ‘world’s cheapest tablet’

Sony’s credit rating heads toward junk pile

"Japanese tech mega-corporations, including Panasonic and Sony, aren’t doing too well. After Sharp posted its most recent loss, its financial rating fell to junk status, and the company is now seeking a government bailout. Panasonic was also hit with a near-junk rating by Fitch earlier this month, after it posted a loss 30 times larger than analysts had estimated. Now, Sony—the biggest of Japan’s big dogs—can’t escape the bad news either. On Friday, Moody's downgraded Sony’s long-term debt rating from Baa2 to Baa3, one notch above junk status." Continue reading →

Continue ReadingSony’s credit rating heads toward junk pile

EU suspends aircraft emissions trading rules

"The European Union has agreed to suspend its rules that require airlines flying to and from airports in the EU to pay for their carbon emissions. The rules had been unpopular with countries outside Europe such as the US, China and India. Climate commissioner Connie Hedegaard said she had proposed 'stopping the clock for one year'. The EU brought in the Emissions Trading Scheme on 1 January. India and China have been among the most vocal opponents of the ETS, with India banning its airlines from complying with it in April." Continue reading →

Continue ReadingEU suspends aircraft emissions trading rules

Jim Rogers goes Short US Treasuries, talks JP Morgan Silver and a Boom in North Korea!

"We talk to Jim Rogers, author of the book 'A Gift To My Children,' about what he thinks of the latest economic growth numbers, and his outlook for a recession after the 2012 elections. We ask our guest Jim Rogers, author and investor, about how Japan's experience fits in with forecasts of Western central bank induced inflation. We also ask him about his 2008 prediction for a 'hyper-inflationary Holocaust' and the long term implications for investors and savers. Has he been surprised by the lack of severe inflation, and the performance of the US bond market?" Continue reading →

Continue ReadingJim Rogers goes Short US Treasuries, talks JP Morgan Silver and a Boom in North Korea!

Asian economies turn to yuan

"A 'renminbi bloc' has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China's successful bid to internationalize its currency, a research report has said. Now seven out of 10 economies in the region — including South Korea, Indonesia, Malaysia, Singapore and Thailand — track the renminbi more closely than they do the US dollar. Only three economies in the group — Hong Kong, Vietnam, and Mongolia — still have currencies following the dollar more closely than the renminbi, said the report." Continue reading →

Continue ReadingAsian economies turn to yuan

Reverse brain drain: Economic shifts lure migrants home

"The financial crisis that began in 2008 has tested middle-class America's sense of stability and the European right to social welfare. It has also caused many to question whether the developed world is still the only land of opportunity worth migrating to. Emerging economies not only are faring better than most of the developed world in the current recession, they also continue to grow, drawing back their expatriates and, in some cases, even luring new high-skilled citizens of the US and Europe. Those countries losing their allure could also lose their competitive edge." Continue reading →

Continue ReadingReverse brain drain: Economic shifts lure migrants home