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Many Malaysians looking to bulletproof their vehicles following shooting incidents; can bulletproof the windows from $300

Many looking to bulletproof their vehicles

20130801_bulletproof_reuters

Thursday, August 1, 2013 – 09:35

The Star/Asia News Network

PETALING JAYA – Malaysians, who are known for pimping their ride, are now looking to bulletproof their vehicles. There have also been enquiries on making the windows of their houses bullet proof. A check showed that one can bulletproof the windows of a Perodua Kancil windows from around RM1,000 (S$389) but it can be more expensive for other models. A source from a German car company revealed that one of their flagship models, which is a fully bulletproof version, would cost around RM5mil. Meanwhile, STEC Laminates director James Thomas said enquiries for security protec-tion of cars have increased during the last week. “Our main market is not in Malaysia. We export our materials to 30 other countries. “Since the shooting incidents, enquiries have increased and we have received five calls in one week,” said Thomas. Read more of this post

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Vietnam bans bloggers and social media users from sharing stories

Vietnam bans bloggers and social media users from sharing stories

Thursday, August 1, 2013 – 16:19

AFP

HANOI- Communist Vietnam is to ban bloggers and social media users from sharing news stories online, under a new decree seen as a further crackdown on online freedom. Blogs or social media sites like Facebook and Twitter — which have become hugely popular over the last few years in the heavily-censored country — should only be used “to provide and exchange personal information”, according to the decree. The document, signed by Prime Minister Nguyen Tan Dung and made public late Wednesday, stipulates that internet users should not use social networks to share or exchange information on current events. Read more of this post

Three quarters of China’s solar-grade polysilicon producers face closure as solar panel piles up and Beijing looks to overhaul a bloated and inefficient industry

As solar panels pile up, China takes axe to polysilicon producers

Wed, Jul 31 2013

By Charlie Zhu

HONG KONG (Reuters) – Three quarters of China’s solar-grade polysilicon producers face closure as Beijing looks to overhaul a bloated and inefficient industry, resulting in fewer but better companies to compete against Germany’s Wacker Chemie AG and South Korea’s OCI Co Ltd. The polysilicon sector, which has around 40 companies employing 30,000 people and has received investment of 100 billion yuan ($16 billion), suffers from low quality and chronic over-capacity as local governments poured in money to feed a fast-growing solar panel industry, for which polysilicon is a key feedstock. Read more of this post

Mortgage bond sell-offs hit U.S. banks with big losses

Mortgage bond sell-offs hit U.S. banks with big losses

12:06am EDT

By Peter RudegeairCarrick Mollenkamp and Cezary Podkul

(Reuters) – U.S. banks, who had little choice in recent years but to use deposits to buy super safe mortgage bonds, are now getting an unpleasant taste of the risks. On Wednesday, Tulsa, Oklahoma-based BOK Financial (BOKF.O: QuoteProfileResearchStock Buzz), which had nearly a third of its $27.5 billion in assets invested in mortgage bonds earlier this year, saw paper profits from the portfolio drop. It said net unrealized gains on agency mortgage bonds fell 66 percent to $70 million in the second quarter compared to the previous three month period. A BOK spokeswoman wasn’t immediately available to comment further. Read more of this post

China’s equity market has become “dysfunctional” after the regulator halted share sales and investors shifted to wealth-management products, said Anthony Neoh, a former government adviser who helped the nation open up to foreign money managers a decade ago.

China Stock Market Dysfunctional Amid IPO Freeze, Neoh Says

China’s equity market has become “dysfunctional” after the regulator halted share sales and investors shifted to wealth-management products, said Anthony Neoh, a former government adviser who helped the nation open up to foreign money managers a decade ago.

Smaller companies are losing access to capital as the China Securities Regulatory Commission extends a more than nine-month halt on initial public offerings and government-controlled banks focus on lending to state-owned enterprises, said Neoh, who helped start the Qualified Foreign Institutional Investor program as the CSRC’s chief adviser from 1999 to 2004. Many investors assume wealth-management products are guaranteed by the government, creating “tremendous moral hazard,” Neoh said. Read more of this post

India’s Financial Technologies, which controls the nation’s biggest commodity exchange, tumbled 42 percent after a subsidiary suspended trading in some contracts.

Financial Technologies Plunges Most in 15 Years: Mumbai Mover

Financial Technologies (India) Ltd. (FTECH), which controls the nation’s biggest commodity exchange, sank the most in more than 15 years after a subsidiary suspended trading in some contracts.

Financial Technologies tumbled 42 percent to 313.95 rupees at 9:57 a.m. in Mumbai, its biggest decline since December 1997. Unit National Spot Exchange Ltd. halted trading in some contracts, merged the delivery and settlement of all others and deferred them for a period of 15 days, it said in statement yesterday. Trading in its dematerialized contracts will continue, the company said. Read more of this post

Australia to increase tobacco tax by 60 pct over four years

Australia to increase tobacco tax by 60 pct over four years

Thursday, August 1, 2013 – 12:54

Reuters

SYDNEY – The Australian government said on Thursday it will increase tobacco taxes by 60 per cent over the next four years as it seeks to return the budget to a surplus in 2016/17, dealing another blow to cigarette manufacturers. The move, which the government said is also aimed at battling high rates of smoking-related cancer, follows the introduction in Australia last year of the world’s toughest cigarette plain packaging laws. Read more of this post

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