Asia 1997 vs. Asia 2013

August 22, 2013, 3:48 AM

Asia 1997 vs. Asia 2013

By Alex Frangos


It seems all too familiar. Currencies are plunging. Current account deficits are widening. Central bankers are tripping over themselves to settle markets. So is this the 1997-98 Asian Financial Crisis redux? For one economist who lived through the crisis, history isn’t repeating itself just yet. “If the Asian financial crisis was a 10. I’d still be on a 3. My instinct is this is a short term portfolio adjustment that will pass,” says Stephen Schwartz, chief Asia economist for BBVA. He saw the Asian financial crisis up close as an International Monetary Fund staffer covering the region, and later lived in Indonesia working for the IMF as Asia licked its wounds during the 2000s.

Read more of this post

MIT’s Innovators List

August 22, 2013, 3:45 PM

MIT’s Innovators List

By WSJ Staff

The MIT Technology Review, a Massachusetts-based technology publication has come out with its annual list of 35 innovators aged under 35. This year it features two men of south Asian origin. Balaji Srinivasan and Vijay Balasubramaniyan, both 33, made it to the coveted list, which celebrates young entrepreneurs and inventors, who have done exceptional work in the field of technology globally. People of south Asian origin and Indian-Americans have regularly featured on  MIT’s innovators list. This year, however their number has gone down. In 2012, five innovators on the list were of south Asian origin. The winners are selected by a panel of judges evaluate the candidates based on current trends in technology and the diversity of innovation. The list is divided into five sections: inventors, entrepreneurs, visionaries, humanitarians and pioneers. MIT selected Mr. Srinivasan as one of the top entrepreneurs. He is the founder of Counsyl Inc., a Silicon Valley startup that conducts low-cost, genetic tests on prospective parents that can identify if they are carrying genes capable of causing hereditary diseases in their children. Counsyl also won bronze in the The Wall Street Journal’s Innovation Awards in 2010. Mr. Srinivasan founded Counsyl in 2007 with his brother Ramji Srinivasan. Before that, he taught data mining, statistics, and computational biology in the department of statistics at Stanford University in California. The Srinivasan brothers’ father, however, didn’t want them to get into medicine and was keen for them to study computer science instead, notes the MIT Technology review. A Stanford alum, Mr. Srinivasan holds graduate, post-graduate and doctoral degrees in electrical engineering. He also holds a Master’s degree in chemical engineering from Stanford. The other south Asian on the list, Vijay Balasubramaniyan is the co-founder of Pindrop Security. an Atlanta based company that tracks fraudulent phone calls. The list recognizes him as one of the top inventors. Mr. Balasubramaniyan completed his undergraduate studies in engineering from R. V. College of Engineering in the southern Indian city of Bangalore and doctoral studies from Georgia Institute of Technology in the U.S. Prior to Pindrop, he worked at some of the top technology firms such as Google Inc.GOOG +0.45%, Intel Corp. and IBM Research. He is also a regular speaker at technology conferences on the subject of phone fraud. In the past the MIT list has included Google founders Sergey Brin and Larry Page,Mark Zuckerberg of Facebook Inc.FB -0.23%, Spotify’s founder Daniel Ek and AppleIncAAPL +0.26%’s Jonathan Ive. Read more of this post

Sweden hits Wallenburg family’s buyout firm EQT and employees with $100 mln tax bill

Sweden hits buyout firm EQT and employees with $100 mln tax bill

Wed, Aug 21 2013

By Kylie MacLellan and Mia Shanley

LONDON/STOCKHOLM, Aug 21 (Reuters) – Sweden is demanding that private equity firm EQT Partners and some of its employees pay 647 million Swedish crowns ($100 million) in tax on past profits as it cracks down on buyout firms. Sweden has been trawling through tax returns and earnings declarations going back to 2005 of private equity firms that were paying tax at low rates or, in some cases, not at all. It wants to tax the majority of private equity carried interest, a share of profit on deals, at the highest income tax rate of 55 percent, not at the capital gains rate of up to 30 percent. The prominent and powerful Wallenberg family’s EQT, said the Swedish tax authorities would retroactively tax about 20 current and former employees of EQT as well as the company itself for income between 2007 and 2009. The tax authority said it had asked EQT to pay 334 million crowns and the employees 313 million for that period. It has already demanded 100 million crowns more for 2006. EQT said it would challenge the demand. “The parties concerned have followed all rules and regulations in Sweden, fully declared income and provided all relevant information to the tax authorities. Our view is that nothing new has been found in the investigations that warrant a retroactive change,” chief operating officer Johan Bygge said. EQT said income declarations from the individuals concerned had been approved by the tax authorities for the last 18 years. “The behaviour of the tax authorities creates a high level of uncertainty for EQT Partners AB and its employees,” the company said in a statement. Among other buyout firms facing retrospective tax charges, Nordic Capital was asked for $118 million and nearly $32 million of penalties in 2010. It is also contesting the tax demand and is yet to pay anything.

Tax attack

Leveraged buy-outs face legal scrutiny

Both cases relate to a tax loophole used by private-equity firms in America and much of Europe. Under “carried interest” rules, buy-out executives pay (relatively low) capital-gains taxes on profits made from buying and selling companies, in the same way investors or entrepreneurs do. This is odd, given that the money wagered on private-equity deals comes overwhelmingly from outside investors, not the executives themselves. It would make more sense for these profits to be taxed like salaries, or bankers’ bonuses, at the (higher) income-tax rate.

“I doubt any great entrepreneur in history got up in the morning and said I think I’ve got a good plan on how to make money. I think Wilbur and Orville [Wright] wanted to fly, I think [Thomas] Edison wanted to make light without candles.”

August 21, 2013, 7:50 p.m. ET

Inventing With an Eye on the Future

Even with an exceptional idea, budding entrepreneurs can struggle to move past the brainstorming stages. They face challenges in execution like building a cohesive team, coming up with a business plan and even understanding how to present their product or service. This week mentors on “WSJ Startup of the Year,” a documentary on, offered some words of inspiration for all entrepreneurs. Here’s what some science and technology innovators had to say. Edited excerpts:

Ray Kurzweil, director of engineering at Google Inc. GOOG +0.45% : “Ninety-five percent of the innovators I meet would actually do exactly what they say if given the resources, but most of those projects would fail because the timing is wrong. A lot of business and technology plans assume the world three or four years from now will be kind of like it is today, and that’s not the world you need to aim at. That’s going to be a completely different world. The world is completely changed in just a few years time, and it will change at an even faster pace in the future. So a key harbinger of success is to actually understand this exponential pace of change and make your project relevant for the future world and meet the train when you get there.”

Peter Diamandis, chairman and founder of XPRIZE Foundation: “What I’m interested in seeing is someone who’s passionate about what they’re doing; that they love it; that they’re excited about it. Because a business plan isn’t worth much of anything. What really is worth something is a set of entrepreneurs whose mission this is to make happen beyond anything. That at 3 o’clock in the morning when they hit another brick wall, they’re going to wake up and take a different direction. Ultimately a business plan is going to be out-of-date as soon as you begin writing it. And it is really that internal dimension of passion, of commitment that will carry through all the hurdles along the way.”

Bob Hariri, founder and CEO of Celgene Cellular Therapeutics: “It’s the mission and the man. You establish a clear mission, what you want to do and then you go and find really great people. You have to have the kind of outgoing, engaging personalities that let [you] pull the best and the brightest. You’ve got to be evangelical about your mission. And then when you get them to sign on and you can inject some of that passion in them, then you can build a remarkably successful business.”

Dean Kamen, Segway inventor and health-care innovator: “If you believe that what drives a person to be an entrepreneur is money or not wanting to risk money, I’d say that’s an early sign that this is not an entrepreneur. Every entrepreneur I’ve ever seen is driven by the passion to do something, believing that if it’s as good as they think it is, of course somebody will make money. And probably if they stay with it, they’ll make some of it, maybe most of it or maybe all of it. But I doubt any great entrepreneur in history got up in the morning and said I think I’ve got a good plan on how to make money. I think Wilbur and Orville [Wright] wanted to fly, I think [Thomas] Edison wanted to make light without candles.”

Democracy by design: Seeley International’s secret is company-wide brainstorming

Matthew Smith Reporter

Democracy by design: Seeley International’s secret is company-wide brainstorming

Published 21 August 2013 21:23, Updated 22 August 2013 14:03

21585142-055e-11e3-9ede-db88168f11f3_F Seeley - Factory-medium res--646x363

From salesman to executive chairman: Frank Seeley fosters an inclusive culture where all staff can contribute to product design.

Mid-Market Awards 2013 | Environmental Innovation in the Mid-Market: Seeley International

It was at one of Seeley International’s regular company-wide innovation sessions that the idea for a new type of water management system was conceived. If it was solely left up to engineers, the system – modelled on an umbrella where water flows off a convex surface – might never have been developed, says the founder and executive chairman of Seeley International, Frank Seeley. The traditional water management system in air-conditioning units – essentially a pipe with holes – would eventually block up with salt, so Seeley took the design problem to the broader group, including sales, corporate development and administration staff. “I opened it up to the floor and someone said, ‘You need something so the water falls off like an umbrella’. And I said, you’re right!” he recalls. Read more of this post

Resilient and courageous: the stories behind the Australian BRW GE Capital Mid-Market Awards

James Thomson Editor

Resilient and courageous: the stories behind the BRW GE Capital Mid-Market Awards

Published 22 August 2013 09:01, Updated 22 August 2013 13:07

Adam Spencer, radio star and the MC of the inaugural BRW GE Capital Mid-Market Awards held in Sydney on Wednesday night, had done his homework. The small Victorian town of Longwarry, home to the winner of the Mid-Market Award for best regional business, could claim two great successes, Spencer told us. Not only was the town a Mid-Market award winner, but it was also home to Lenny Morel, who was named Australian Banjo Player of the Year for 2012. I’m not sure which award will be held up highest down in the main drag of Longwarry, but I do know this – it’s businesses like Longwarry Food Park that typify the spirit and resilience of the mid market. The business was born out of failure. Owner Rakesh Aggarwal, an engineer by trade, took the gamble of his life when he bought an abandoned milk powder plant in 2001, four years after it had been decommissioned. He redesigned the plant, restructured the business and set about creating a $75 million powerhouse, where exports account for 75 per cent of sales. Then, another disaster struck. In February 2012, fire shut the plant for seven weeks, leaving a damages bill of $5 million. But Longwarry Park wasn’t going to be stopped. It bought more milk than it needed from its suppliers, which it on-sold at a loss to competitors, and it arranged with its insurance company to allow employees to work on the clean-up so no jobs were lost. Read more of this post

Two Charts That Should Make You Concerned About Asian Debt

Two Charts That Should Make You Concerned About Asian Debt

JOE WEISENTHAL AUG. 21, 2013, 9:16 PM 1,113 3

From Morgan Stanley, here are two charts that should have you a bit concerned about corporate debt in Asia. First, Corporate Asia is the most leveraged in the world. And second, growth is slowing, while real interest rates (borrowing costs) are rising. So between massive leverage, slowing growth and rising rates… there are some reasons to be concerned.

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Finally, A Robot That Will Talk To Your Children So You Don’t Have To When You Are Tired

Finally, A Robot That Will Talk To Your Children So You Don’t Have To

NICHOLAS CARLSON AUG. 21, 2013, 8:50 AM 3,856 17


You work really hard all day, so when you’re finally back at home, all you want to do is kick back with your iPad and play with some apps. A little Candy Crush and scotch to ease the pain, am I right? But no. First some 8-year-old wants you to talk to them. Then some 3-year-old is trying to give you a hug. Ugh. Fortunately, for you, modern parent, there’s a new Silicon Valley startup called WittyWorX. WittyWorX makes a green robot owl called “IXI-Play” that is programmed with a “rich set of sensors and expression capabilities to support the playful interaction” with your children. “With its lifelike body movement and posture, animated eyes and sounds, IXI-Play is very well suited to express its emotions during game play. Children recognize and enjoy this interaction, making IXI-Play feel like a real buddy for playful interaction.” Translation: make sure there’s water in your ice cube trays and your iPad Mini is charged, because you’ve finally got some quality time ahead of you in your evenings, modern mom or dad. WittyWorX showed off IXI-Play yesterday, at a very important conference for startups in Silicon Valley called YCombinator Demo Day. All the top venture capitalists attend the event to see what kind of life-improving innovations are coming next. IXI-Play was a favorite. Here are some of IXI-Play’s expressions. Note the one in the second row from the top, second column to the left. This robot will handle the tough love for you. Here’s a video demonstration of IXI-Play.  When the dad sits in the easy chair at 41 seconds in, remember to imagine that’s you.

How Roberta Benteler went from wanting a job in fashion to owning an online retailer to challenge Net a Porter

How Roberta Benteler went from wanting a job in fashion to owning an online retailer

Roberta Benteler runs Avenue 32, an online retailer to challenge Net a Porter. She talks to Emma Sinclair about how she grew her business from scratch, her biggest inspiration and whether the fashion world really is like The Devil Wears Prada.

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Roberta Benteler founded Avenue 32 to challenge the likes of Net a Porter

By Emma Sinclair

1:30PM BST 19 Aug 2013

In April 2011, Roberta Benteler founded Avenue 32, an online retailer to challenge the likes of Net a Porter. The site has already made its mark: its largest single order to date is an unbelievable £51,000 (I’d love to know who that client was!). If Net a Porter is something of a department store, Avenue 32 is more a series of independent boutiques all under one roof with well-known designers on their pages. A firm advocate of new and young brands, it provides an online platform for young designers who otherwise might not have much of a presence on the internet. Additionally, the site looks after distribution, logistics and photography; often the most challenging elements of an online business for young designers. Read more of this post

The Science of Investing

The Science of Investing

By Samuel Lee | 08-21-13 | 06:00 AM | Email Article

Though it sometimes is hijacked by ideologues, the scientific method works. The most successful societies entrust scientifically trained workers with the most specialized tasks, such as performing brain surgery, designing airplanes, and setting marketwide interest rates. And yet, many individuals regularly entrust their fortunes to the investing equivalents of witch doctors and astrologers. Or they take matters into their own hands for no good reason other than a vague belief that they can do it if they put their minds to it. Unlike good scientists, they’re not skeptical enough of themselves or others. Read more of this post

Enforced education the worst motivator in learning

Enforced education the worst motivator in learning

Professor K Ranga Krishnan is right that “Understanding motivation — and apathy — is key to education” (Aug 16). Motivation is key to every undertaking in life. It is the mental fuel, just as sugar and fat are the physical fuels that propel us forward.



Professor K Ranga Krishnan is right that “Understanding motivation — and apathy — is key to education” (Aug 16). Motivation is key to every undertaking in life. It is the mental fuel, just as sugar and fat are the physical fuels that propel us forward. The worst kind of motivation is enforced motivation. Observe a pupil who dislikes second language but has to study it. Listen to a child tapping listlessly on the ivory keys because her tiger mother is within hearing distance. Read more of this post

Welcome to the Age of Denial: Our society no longer values the integrity of scientific fact

August 21, 2013

Welcome to the Age of Denial


ROCHESTER — IN 1982, polls showed that 44 percent of Americans believed God had created human beings in their present form. Thirty years later, the fraction of the population who are creationists is 46 percent. In 1989, when “climate change” had just entered the public lexicon, 63 percent of Americans understood it was a problem. Almost 25 years later, that proportion is actually a bit lower, at 58 percent. The timeline of these polls defines my career in science. In 1982 I was an undergraduate physics major. In 1989 I was a graduate student. My dream was that, in a quarter-century, I would be a professor of astrophysics, introducing a new generation of students to the powerful yet delicate craft of scientific research. Read more of this post

China Banks on Buddhism; A shadowy Chinese association gears up to develop the Buddha’s birthplace in Lumbini, Nepal, known as “the Buddhist’s Mecca.”

August 21, 2013, 5:48 p.m. ET

China Banks on Buddhism



Many have long lamented the untapped tourism potential of Lumbini, known as ‘the Buddhist Mecca.’

The plain of Terai, a poor agricultural land crossed by holy rivers, straddles the border between Nepal and India. Its sweltering summers see temperatures climb above 100 degrees, but this parched terrain might be on the verge of tumultuous changes. On the Nepali side is the small city of Lumbini, which, after long neglect, is now at the center of great power politics. Read more of this post

The Common Core and the Common Good: American schools need rigorous standards to make kids competitive in a global job market

August 21, 2013

The Common Core and the Common Good


America, we have a problem.

Our educational system is not keeping up with that of many other industrialized countries, even as the job market becomes more global and international competition for jobs becomes steeper. We have gone from the leader to a laggard. According to the Broad Foundation, an educational reform group, “American students rank 25th in math, 17th in science and 14th in reading compared to students in 27 industrialized countries.” And we have gone from No. 1 in high school graduation to 22nd among industrialized countries, according to a report last year by the Organization for Economic Cooperation and Development. Read more of this post

50-year-old Rapper Coolio Selling Rights To ‘Gangsta Paradise’ To Fund Cooking Career; All 123 songs that pull in $23,227 per year in royalties will be up for grabs for between $134,000 to $225,000.

Coolio Selling Rights To ‘Gangsta Paradise’ To Fund Cooking Career



Coolio, the man who reshaped Stevie Wonder’s “Pastime Paradise” to bring the 90s “Gangsta’s Paradise,” is selling the rights to his Grammy-winning single, along with 122 other songs. Why would he ever do such a thing? Apparently, the rapper is auctioning off the rights to his music catalog in order to further his career as a chef. Some of you might remember Cookin’ With Coolio back in 2009, a cookbook that made him a New York Times-bestselling author. According to a press release, Coolio is planning to “invest the funds from the song catalogue sale to expand his cookbook series and his online cooking show of the same name.” Even though the 50-year-old rapper hasn’t hit the album charts in over a decade, his old-school hits are reported to pull in  $23,227 per year in royalties. All 123 songs will be up for grabs at the Royalty Exchange and are expected to fetch between $134,000 to $225,000. While I have nothing but well wishes for Coolio on his journey into the realm of food, I’ll admit that I’m a little put out. As soon as I found out that he was selling off “Gangsta’s Paradise,” I blasted that ish for everyone at the Foodbeast office to hear. I choked up a little, thinking back to Michelle Pfeiffer donning a leather jacket on Dangerous Minds. Then, on cue (I shit you not), everyone began singing along to the lyrics and for just a split second, we we’re all back in 1995 listening to beats streaming from our cassette players. Again, while I respect Coolio’s decision to follow his dreams, most of us can’t help but feel a pang of nostalgia. So, here it is, one more time while it’s golden.

Missionary founders may turn mercenary; Great missionaries did not risk failing to find a market fit. They risked being eaten

August 21, 2013 4:47 pm

Missionary founders may turn mercenary

By Philip Delves Broughton

Great missionaries did not risk failing to find a market fit. They risked being eaten

The idea of successful entrepreneurs as missionaries rather than mercenaries was conceived, like so many recent business ideas, in the glassy offices of Kleiner Perkins Caulfield & Byers, the Silicon Valley venture capital firm. It was first presented to the wider world by Randy Komisar, a Kleiner partner, in his 2000 book,The Monk and The Riddle: The Art of Creating a Life While Making a Living . Read more of this post

How Booktopia ‘in-sources’ everything to remain ahead of the digital innovation curve

Caitlin Fitzsimmons Online editor

How Booktopia ‘in-sources’ everything to remain ahead of the digital innovation curve

Published 21 August 2013 20:34, Updated 21 August 2013 20:58


Getting the product out to customers within 24-48 hours is critical to success as an online retailers, says CEO of Booktopia Tony Nash. Photo: Louie Douvis

Mid-Market Awards 2013 | Digital Innovation in the Mid-Market: Booktopia

For online retailer Booktopia, bookselling is a numbers game. “We measure everything,” says co-founder and chief executive Tony Nash. “If it is not measurable, we don’t get involved.” It is this data-driven approach that has led to Booktopia winning the digital innovation prize in the 2013 BRW Momentum Awards. The business develops all its software and algorithms in-house for everything from email marketing to what stock to order – or as Nash puts it, “we in-source everything”. Read more of this post

Regional revival: How dairy group Longwarry survived the setbacks

Leo D’Angelo Fisher Columnist

Regional revival: How dairy group Longwarry survived the setbacks

Published 21 August 2013 21:50, Updated 21 August 2013 21:51


Longwarry Food Park founder Rakesh Aggarwal with managing director son Saurabh at the family plant in Gippsland. Photo: Luis Ascui

Mid-Market Awards 2013 | Best Mid-Market Business in Regional Australia: Longwarry Food Park

Engineer turned dairy entrepreneur Rakesh Aggarwal took the gamble of his life when he bought an abandoned milk powder plant in 2001. Despite the risk, when the opportunity presented itself to go from being a consultant to the dairy industry to being a player, he grabbed the providential teat with both hands. That impulse paid off. The family-owned Longwarry Food Park, based in the town of Longwarry in the lush dairy region of Gippsland in south-east Victoria, initially focused on manufacturing milk powder. It subsequently added fresh milk, long-life (UHT) milk and cream cheese. Read more of this post

McColl’s Transport invests in staff and turns a corner

Michael Bleby Reporter

McColl’s Transport invests in staff and turns a corner

Published 21 August 2013 20:34, Updated 21 August 2013 20:58


McColl’s driver simulator (pictured with Bolton, left, and Thornton) means that drivers are safer – and better for the bank balance, as they consume up to 9 per cent less fuel after training.Photo: Jesse Marlow

Mid-Market Awards 2013 | Best Mid-market Business ($100m to $250m): McColls Transport

McColl’s Transport has a truck that won’t crash. Well, it can, but it won’t cause damage – not in real life. The Geelong-based logistics company has a driver simulator, similar to what unit pilots use in training, for the drivers of its 185 prime movers. The two-year-old simulator cost $500,000 to buy and set up. It’s a fun piece of kit. A trainer can set different types of roads – city, country or suburban – as well as different weather and traffic conditions for drivers to experience. Under watchful eyes they can practise cornering, managing emergencies like a blown tyre and – road users will be pleased to know – stopping at a suitable distance behind passenger cars, rather than up close behind. Read more of this post

University Students in Indonesia Consider Selling Kidneys to Cover School Costs

University Students Consider Selling Kidneys to Cover School Costs

By Dyah Ayu Pitaloka on 9:57 pm August 21, 2013.
Malang, East Java. Five students studying at Brawijaya University’s Faculty of Social and Political sciences have offered to sell their kidneys in a desperate attempt to pay for their school costs and continue their studies. Protesting outside of the rector’s office on Tuesday, the students, who were part of a group of 30 other demonstrators, hatched their scheme after their request for a delayed payment plan was rejected by the university. Read more of this post

Bank intern’s death raises questions over workaholic race to wealth

Updated: Thursday August 22, 2013 MYT 8:22:32 AM

Bank intern’s death raises questions over workaholic race to wealth

LONDON, Aug 21 (Reuters) – The death of an intern working at the London offices of Bank of America Merrill Lynch has prompted calls for city firms to take more responsibility for the ambitious graduates who push themselves to the limit to secure jobs at the world’s top banks.

Attracted to the glass towers of finance in London, New York and Singapore by the prospect of securing a full-time job and hefty wage, future “masters of the universe” often face 20-hour days in some of the most adrenaline-soaked offices on earth. Read more of this post

Eric Levine, the founder of stock exchange-listed California Wow Xperience, pleads innocence that he and the directors made fraudulent transfers of the company’s funds overseas

California Wow founder pleads innocence

THE NATION August 22, 2013 1:00 am

ERIC LEVINE, the founder of stock exchange-listed California Wow Xperience, has put up a vigorous defence against the Anti-Money Laundering Office’s allegations that he and the directors made fraudulent transfers of the company’s funds overseas.

In the first statement since the fitness-centre chain hit financial trouble and later faced the AMLO allegations, Levine said the documents provide full disclosure of the company’s financial transactions, and are accompanied by a letter that categorically denies any wrong-doing by the company or any directors. The company also offers total cooperation for the investigation into its bank accounts and business activities, he said. Read more of this post

Kodak tries to picture a future selling nothing to consumers; The year 2013 should have marked a glorious milestone for Kodak as it emerges from 18 months of bankruptcy to focus on commercial printing and the manufacture of imaging sensors

Kodak tries to picture a future selling nothing to consumers

The year 2013 should have marked a glorious milestone for Kodak.

By Matt Warman

8:30PM BST 21 Aug 2013

Celebrating 125 years since it sold the first consumer camera, the grand old American brand ought to have been basking in a world where more photographs are taken than ever before and where its history entitled it to vast profits built on a fine heritage. More than a century ago, George Eastman developed a pioneering method for photography, then introduced the original Kodak camera in 1888. His company went on to invent film, allowing Thomas Edison to develop the motion picture camera, and created the ubiquitous Brownie cameras and the Kodachrome film that shaped generations of memories. Perhaps most galling of all for the company, it might be said with hindsight, it invented the digital camera. Read more of this post

Is Moko Australia’s own next Facebook?

Is Moko Australia’s own next Facebook?

August 22, 2013 – 12:54PM

Nate Cochrane


Ian Rodwell, founder and CEO of ASX-listed mobile advertising company, Moko, says the business is on track to being a $1 billion company listed on the US Nasdaq exchange. Photo: Nate Cochrane

Its origins go back to a five-person operation above a hairdresser in Perth. Now reincarnated social network company Moko is gearing up to crack the US college scene and a $US1 billion capitalisation on the world’s biggest technology stock exchange. Next month, the Western Australia company will launch a service to connect advertisers with 5 million American college students. Read more of this post

Manufacturing here to stay: K Care Healthcare Equipment keeps it local in Australia

Ben Hurley Reporter

Manufacturing here to stay: K Care keeps it local

Published 21 August 2013 20:34, Updated 22 August 2013 08:55


Alan Lipman at the Malaga paint line: ‘I don’t want to lose the skill to produce things in my factory.’Photo: Ross Swanborough

Mid-Market Awards 2013 | Best Mid-market Business ($10m to $50m): K Care Healthcare Equipment

A few dollars saved by manufacturing a product in China is not worth the trouble for K Care Healthcare Equipment, which is a staunch advocate of keeping a manufacturing presence in Australia. CEO and equity holder Alan Lipman says outsourcing manufacturing creates risks with quality control, as well as shifting exchange rates and the timing to get things shipped. It would also open up a hole in the group’s two local factories that would need to be filled with something else. “I don’t want to lose the skill to produce things in my factory,” says Lipman, who has a long history of directing healthcare companies and government agencies. “There’s no panacea from taking product out of Australia and putting it in a different country. It just creates problems that need to be managed.” Read more of this post

“Australians don’t want Kevin Kardashian as prime minister” ; Australia Leader Tries ‘Selfie’ Snapshots to Connect with Youth Vote

Updated August 21, 2013, 7:51 p.m. ET

Australia Leader Tries ‘Selfie’ Snapshots to Connect with Youth Vote



Australia will decide on Sept. 7 whether to change prime ministers, and the incumbent, Kevin Rudd, has a strategy to woo younger voters. The WSJ’s Enda Curran tells Deborah Kan why Mr. Rudd thinks “selfie” photos will win them over. SYDNEY—Politicians are always looking for ways to connect with the elusive youth vote. For Bill Clinton, it was playing saxophone in shades on television. For Barack Obama, it was “slow jamming” the news with a hip-hop band on a late-night TV show. For Kevin Rudd in Australia, it is the photos known as “selfies.” Read more of this post

Patrick Grove: why the services is the next online wave in Asia

Patrick Grove: why the services is the next online wave in Asia

Published 21 August 2013 11:48, Updated 22 August 2013 00:46

Patrick Grove

As group chief executive of Catcha Group, I’ve been in the online industry for almost 15 years and I’ve rolled up my sleeves and got dirty plenty of times. It’s this hands-on experience that has helped me identify the hallmarks of a successful online business: the next wave of successes is likely to be services businesses.

Consumers are already going online to hunt down services and products, but they are often faced with the task of sifting through a lot of poor-quality information. This results in a real need to organise data into something useful and online aggregators are great at this – the success of online aggregators of travel sales and discounts bears testament to this. Aggregators of financial products are the next step for Asia. Read more of this post

It’s a RRRout as rupee, rupiah, ringgit get hit


It’s a RRRout as rupee, rupiah, ringgit get hit

Though it’s not a rerun of 1997-98, regional currencies may weaken further against US$


‘Both investors and businesses are likely to benefit from using any lulls in the sell-off to raise their exposure to the US dollar.’

– Manpreet Gill, Standard Chartered Bank

[SINGAPORE] Plummeting Asian currencies – especially the Indian rupee and the Indonesian rupiah – have raised the spectre of contagion as international investors tend to paint the region with the same brush. The Malaysian currency was also hit as some spoke of the RRR – rupee, rupiah, ringgit – getting hammered. But analysts said Asia is not in dire straits although, in the short term, they warn of more volatility as international investors are not discerning when they exit markets. Read more of this post

Asia mourns end to cheap dollars

Asia mourns end to cheap dollars, China offers hope

2:24am EDT

By Wayne Cole

SYDNEY (Reuters) – Asian markets were under the cosh on Thursday as a spike in U.S. bond yields drove up borrowing costs globally, and even surprisingly strong data from China couldn’t completely staunch the bleeding.

Emerging markets again bore the brunt of the selling as many have come to rely on cheap dollars to underpin domestic demand and fund current account deficits. The currencies of Indonesia, Malaysia and Thailand all hit multi-year lows, while the Indian rupee ploughed another historic trough. Read more of this post

Asia Cannot Bypass Manufacturing on Path to Prosperity: ADB

Asia Cannot Bypass Manufacturing on Path to Prosperity: ADB

By Jakarta Globe on 3:40 pm August 21, 2013.
Industrial manufacturing is vital to the economic development of Asian nations trying to create high income societies according to a report released Wednesday by the Manila-based Asian Development Bank (ADB).

In a special chapter included in “Key Indicators for Asia and the Pacific,” the bank’s flagship annual publication, ADB emphasized the importance of manufacturing in establishing more productive service sectors, fostering technological innovation and modernizing agriculture. Read more of this post

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