Lost Kingdom: Myanmar’s Forgotten Royals

Lost Kingdom: Myanmar’s Forgotten Royals

By Kelly Macnamara on 12:23 pm November 8, 2013.
Yangon. In a modest Yangon apartment, the granddaughter of Myanmar’s last king lives poor and unrecognized by her neighbors — a far cry from the power and riches of her ancestor. Princess Hteik Su Phaya Gyi said the childhood days when her family had a bevy of servants and retained some of its royal status were now a distant memory. The British colonial regime dethroned her grandfather King Thibaw in 1885 and later the military junta, which ruled the country for decades, kept the family out of the public eye. Read more of this post

In New Myanmar, Junta’s ‘Evil Prince’ Wants to Offer His Help

In New Myanmar, Junta’s ‘Evil Prince’ Wants to Offer His Help

A Decade After He Ran Junta’s Spy Apparatus, He Wishes Someone Would Call

SHIBANI MAHTANI and MYO MYO

Nov. 8, 2013 8:03 p.m. ET

YANGON, Myanmar—When Lt. Gen. Khin Nyunt was a leader in the junta that formerly ruled Myanmar, the spy apparatus that he ran was capable of punishing ordinary citizens for even uttering the word “democracy.” Now, nearly a decade after he was ousted in a power play and placed under house arrest, he wishes someone would just call. “I have so much experience, but no one has asked me for help as a consultant or strategist,” said Mr. Khin Nyunt, almost wistfully. “If anyone approaches me, I will give good advice, which will be in our country’s interest—I am not a politician, so I won’t be biased.” Read more of this post

With a number of Asian countries bracing for a potentially devastating asset bubble burst, Malaysia is also rolling up its sleeves if the Budget 2014 measures were to offer a glimpse of the Government’s foresights

Updated: Saturday November 9, 2013 MYT 6:27:39 AM

Restoring stability in the market

BY ANGIE NG

WITH a number of Asian countries bracing for a potentially devastating asset bubble burst, Malaysia is also rolling up its sleeves if the Budget 2014 measures were to offer a glimpse of the Government’s foresights. The measures are meant to deter speculators and promote a more stable market that is driven by real demand. Although generally applauded by various stakeholders for its noble intentions, there are also some apprehension as to the measures’ potential impact on the property market. Read more of this post

Reducing speculation in the property market; the comprehensive and wide-ranging nature of the Budget 2014 measures to rein in excessive speculation in the property market are bound to be impacted by the measures come Jan 1

Updated: Saturday November 9, 2013 MYT 10:18:01 AM

Reducing speculation in the property market

BY ANGIE NG

GIVEN the comprehensive and wide-ranging nature of the Budget 2014 measures to rein in excessive speculation in the property market, all the stakeholders, irrespective of whether one is looking to buy or sell or acting as market mediators, are bound to be impacted in one way or other by the measures come Jan 1, next year. The budget measures are among the most pervasive and some say “rather tough” on the market. Whether one is a potential house buyer, seller, developer or consultant, the multi-pronged measures have a good chance of influencing their decision making. Read more of this post

Media Prima poised to retain dominance, holding 45% share of the local TV market via the four channels, with TV3 reigning supreme at 24%; It currently commands 19 million viewers in Peninsular Malaysia

Media Prima poisedto retain dominance

LIDIANA ROSLI

Published: 2013/11/09

MARKET LEADER: Group to offer more than 100 new programmes across its four free-to-air TV channels next year

MEDIA Prima Bhd is set to retain its dominance in the local television broadcasting market next year through its four free-to-air (FTA) channels – TV3, ntv7, 8TV and TV9. “We are set to bring over 100 new programmes that include a combination of local blockbusters, drama series, cooking shows and documentaries across our four channels,” said Media Prima chief executive officer for television networks Ahmad Izham Omar at the group’s annual TV screening, here, yesterday. Read more of this post

Cyberjaya, which is built on former agricultural land, was founded in 1996 as the first hub for the Multimedia Super Corridor (MSC) Malaysia when the Government identified ICT and multimedia as a new growth engine for Malaysia

Updated: Friday November 8, 2013 MYT 10:59:04 AM

Fuelling Cyberjaya’s growth

BY S. PUSPADEVI

LOCATED next to the federal administrative capital of Putrajaya, Cyberjaya is fast becoming the destination of choice for multi-national companies (MNCs), corporate entities and property developers, who foresee the business potential the township has to offer. Cyberjaya, which is built on former agricultural land, was founded in 1996 as the first hub for the Multimedia Super Corridor (MSC) Malaysia when the Government identified ICT and multimedia as a new growth engine for Malaysia. Read more of this post

Are the planned listings of Medini Iskandar Malaysia Sdn Bhd and Iskandar Waterfront Holdings Bhd (IWH), worth a combined US$1.1bil (RM3.51bil), in a tight spot because of Budget 2014?

Updated: Saturday November 9, 2013 MYT 6:29:58 AM

Exemptions for Medini Iskandar?

BY JOHN LOH

Are the planned listings of Medini Iskandar Malaysia Sdn Bhd and Iskandar Waterfront Holdings Bhd (IWH), worth a combined US$1.1bil (RM3.51bil), in a tight spot because of Budget 2014? IWH, which is developing 1,700ha of land in Danga Bay, Desaru and Tebrau coasts, as well as Johor Bahru City Centre, has delayed its much-anticipated US$300mil (RM957mil) initial public offering (IPO) by a year later than planned, newswireReuters reported this week. Read more of this post

Finance Minister Lapid: Israel must ditch Reaganomics to help middle class

Finance Minister Lapid: Israel must ditch Reaganomics to help middle class

Lapid blasts ‘trickle-down economics’ at business conference in Eilat. In a surprise move, Economy Minster Naftali Bennett has a cucumber up his sleeve.

By Eran Azran | Nov. 8, 2013 | 2:00 AM |  2

Finance Minister Yair Lapid has called for an end to what he called “Reaganite” economic policies, saying it was failing the country’s youngest workers. “Thirty-year-olds today are the first generation whose lives are worse than those of their parents. This must change,” he told the Israel Democracy Institute’s Eli Hurvitz Conference on Economy and Society in Eilat yesterday. Read more of this post

20 Years of Sears: Forlorn Stores, Happy Investors. Thank Spinoffs

20 Years of Sears: Forlorn Stores, Happy Investors. Thank Spinoffs

By Michael Santoli | Michael Santoli – Wed, Nov 6, 2013 12:11 PM EST

Reuters/REUTERS – A Sears store is seen in Schaumburg, Illinois near Chicago, in this September 23, 2013, file photo. Sears Holdings Corp SHLD.O is considering splitting off its Lands’ End clothing and Sears …more  

Imagine, for a moment, an investor who bought stock in Sears, Roebuck & Co. in the middle of 1993— the last year the company produced its signature Big Book catalog — and then forgot about it until now. At that moment a bit more than two decades ago, Sears had just recently lost its status as largest U.S. retailer to Wal-Mart Stores Inc. (WMT), but was still a dominant mall anchor and one-stop Main Street department store. The company had also built a “financial supermarket” of insurance, lending and investment businesses. The stock by then had been in the Dow Jones Industrial Average for seven decades. It was close to the definition of a conservative, blue-chip stock. Read more of this post

Adding Up the Risks in Floating Rate Debt

NOVEMBER 8, 2013, 1:12 PM

Adding Up the Risks in Floating Rate Debt

By STEPHEN J. LUBBEN

It’s basic corporate finance that bonds involve two basic risks: interest rate risk and payment risk. So what happens if a risk-free issuer puts out floating rate debt? We are about to find out, since the Treasury Department announced this week that it would soon start issuing two-year debt that would pay interest at the rate of the most recent 13-week Treasury bill rate, plus a spread set at the time of the initial sale. I think we can assume that the spread will be quite small, perhaps nonexistent. Read more of this post

China’s Bad Debt Bank Cinda Said to Get Approval for $3 Billion Hong Kong IPO

China Cinda Said to Get Approval for $3 Billion Hong Kong IPO

China Cinda Asset Management Co., one of four funds created in 1999 to buy bad debts from the nation’s banks, won approval from the Hong Kong stock exchange for an initial public offering, said two people with knowledge of the matter. The state-controlled asset manager plans to start gauging demand next week for the share sale, which may raise as much as $3 billion, said the people, who asked not to be identified because the information is private. Cinda, a legacy of China’s efforts to clean up a 1990s bad-loan crisis, has expanded into a financial firm involved in everything from investment banking to trusts and real estate. The share sale would help revive the IPO market in Hong Kong, where proceeds are rebounding from a nine-year low. Read more of this post

Fed Anxiety Rises as QE Raises Risk of Loss With Political Cost

Fed Anxiety Rises as QE Raises Risk of Loss With Political Cost

The longer the Federal Reserve continues its bond-buying stimulus, the higher the odds it will face a year without any money to give the U.S. Treasury after taxpayers received a record $88.4 billion profit in 2012. The Fed’s financial-crisis actions — from acquiring debt in the 2008 rescues of Bear Stearns Cos. and American International Group Inc. to three rounds of quantitative easing — have led so far to the record payments. Now, the prospect of a stronger economy and rising interest rates means the value of the Fed’s bond holdings will fall at the same time its funding costs climb because the central bank pays interest on the excess reserves it holds for banks. This could cause operating losses and invite increased scrutiny from lawmakers already critical of the central bank’s policies. Read more of this post

Fed unveils Plan B for withdrawing QE

November 8, 2013 9:07 am

Fed unveils Plan B for withdrawing QE

By Michael Mackenzie in New York

‘Optimal Control’ keeps rates lower for longer to anchor bond yields

The bond market has been buzzing this week following the publication of two papers* from staff at the Federal Reserve that could provide officials a possible way out of their quantitative easing box. The papers, presented at a conference this week hosted by the International Monetary Fund, suggest a lower unemployment rate of 5.5 per cent before triggering a tightening of policy, while also tolerating a higher rate of inflation of around 2.5 per cent. It is a framework that entails the Fed keeping its key overnight rate near zero into 2017 in order to get the economy moving. Such a commitment to keeping overnight interest rates lower for longer, known as forward guidance in central bank speak, should in theory anchor long term bond yields and facilitate a taper of QE. But will it work? Read more of this post

South Koreans cram for dream jobs at Samsung; “I want to get into Samsung so my mother will be able to boast about her son.”

Updated: Friday November 8, 2013 MYT 12:44:42 PM

South Koreans cram for dream jobs at Samsung

BUSAN, South Korea: In a cram school in the South Korean port city of Busan, 70 college students packed into a classroom, chanting “We can do it!” as they studied for an exam they hope will guarantee them a job for life with Samsung Group <SAGR.UL>. The promise of Samsung, whose sprawling business empire spans consumer electronics to ships, offers not only a good salary and benefits but also holds the key to a good marriage in this Asian country where Confucian traditions run deep. Read more of this post

Lotte Group is moving to create two separate holding companies ㅡ each in Korea and Japan ㅡ to dispel concerns about its vague governance systems

2013-11-08 17:10

Two heirs set to divvy up Lotte

Group may set up holding firms each in Korea, Japan
By Yi Whan-woo
Lotte Group is moving to create two separate holding companies ㅡ each in Korea and Japan ㅡ to dispel concerns about its vague governance systems, industry sources said Friday. The measure came amid the Korean government’s toughening stance on the practices of inter-affiliate shareholding in chaebol, which enables owners and their family members to control the entire group with only small stakes. Read more of this post

Foreign dining brands flourish in Korea; Family restaurants, led by Outback Steakhouse, are recording stellar growth even amid the economic recession in Korea. What is the secret behind their success?

2013-11-08 14:52

Foreign dining brands flourish

By Kim Hye-sung
Family restaurants, led by Outback Steakhouse, are recording stellar growth even amid the economic recession in Korea. What is the secret behind their success?
Global brand companies such as Outback Steakhouse, TGIF, and Baskin Robins’ 31 have succeeded in glocalization: partnering with local agents, diversifying its products to suit Korean consumer’s needs, and marketing its products through aggressive advertisement. Read more of this post

Australia’s Central Bank Cuts Growth Estimate; RBA Warns Mining Investment May Drop More Sharply Than Expected

Australia’s Central Bank Cuts Growth Estimate

RBA Warns Mining Investment May Drop More Sharply Than Expected

DAVID ROGERS and SHANI RAJA

Nov. 8, 2013 12:10 a.m. ET

SYDNEY—Australia’s central bank lowered its growth forecast for next year, saying mining investment may drop off more sharply than expected and that an elevated local currency was likely to hurt sales of manufactured products. The Reserve Bank of Australia lowered its economic growth estimate for the coming calendar year to 2% to 3% from an August forecast of 2.5% to 3.5%. It maintained its gross domestic product growth estimate for this year at 2.25% and for 2015 at 2.75% to 4.25%. Read more of this post