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Chinese Capital Markets Frozen As Bad Loans Soar To Highest Since Crisis

Chinese Capital Markets Frozen As Bad Loans Soar To Highest Since Crisis

Tyler Durden on 02/14/2014 14:05 -0500

Chinese capital markets are quietly turmoiling as debt issues are delayed and demand for “Trust” products – the shadow-banking-system’s wealth management ‘investments’ – is tumbling. As Nikkei reports, since January, 9 companies have postponed or canceled issuance plans (around $1 billion) and is most pronounced in privately-owned companies (who lack an implicit government guarantee). This, of course, is exactly what the PBOC wanted (to instill some fear into these high-yield investors – demand – and thus slow the supply of credit to the riskiest over-capacity compenies) but as non-performing loans in China surge to post-crisis highs, fear remains prescient that they will be unable to “contain” the problem once real defaults begin (as opposed to ‘delays of payment’ that we have seen so far).

 

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Via Bloomberg,

Chinese banks’ bad loans increased for the ninth straight quarter to the highest level since the 2008 financial crisis, highlighting pressures on asset quality and profit growth as the world’s second-largest economy slows. Read more of this post

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Japan’s Rakuten buys chat app Viber for $900 million to expand digital empire

Japan’s Rakuten buys chat app Viber for $900 million to expand digital empire

5:10am EST

By Chang-Ran Kim

TOKYO (Reuters) – Japanese e-commerce giant Rakuten Inc, controlled by billionaire Hiroshi Mikitani, will buy call and messaging app provider Viber Media Inc for $900 million in a deal that would more than double the number of users in its digital empire. Read more of this post

Prem Watsa “China Reminds Me Of US Housing In Boom”

Prem Watsa “China Reminds Me Of US Housing In Boom”

by VW StaffFebruary 14, 2014, 12:49 pm

Prem Watsa – Fairfax Financial Holdings Ltd (TSE:FFH– Chairman and CEO on FFH conference call this morning.  Watsa discusses the state of the company with a “year in review” flavor, and looks to the future with a particular emphasis on China.  See  Prem Watsa: China Has Biggest Housing Bubble in History

Prem watsa Fairfax financial’s year end conference call

Thank you, Rick. Good morning, ladies and gentlemen. Welcome to Fairfax Financial Holdings Ltd (TSE:FFH)’s year-end conference call. I plan to give you some of the highlights and then pass it on to Dave Bonham, our CFO, for additional financial details. Read more of this post

Cancer: A better way to understand metastasis

Cancer: A better way to understand metastasis

Feb 15th 2014 | From the print edition

THE most insidious thing about cancer is its tendency to spread. A lone primary tumour can be tackled by knife or radiation beam, as well as drugs, with a reasonable hope of success. But once it has metastasised, and spread secondary cancers around a patient’s body, such treatments are much less likely to be effective for any length of time. Stopping metastasis would thus be a great achievement. And a device created by Matteo Moretti of the Galeazzi Orthopaedic Institute, in Milan, and Roger Kamm of the Massachusetts Institute of Technology, may be a step towards that goal. Their invention, which they describe in Biomaterials, is a lab-on-a-chip that mimics the metastasis of breast cancer into bone marrow. Read more of this post

E-Commerce Gives a Lift to China’s Rural Farmers

E-Commerce Gives a Lift to China’s Rural Farmers

By Christina Larson February 13, 2014

A recent series of food safety scandals has created a hunger in China’s big cities for natural or traditionally grown food, absent buckets of fertilizer and pesticide. Two beneficiaries of this new market are Li Chengcai, 83, and his wife, 76-year-old Cheng Youfang, who grow white radishes in fields shadowed by the Yellow Mountain range. They get orders online from distant urban customers willing to pay more for flavorful, safe food. Read more of this post

Delhi Chief Minister Kejriwal resigns to protest the blocking of an anti-corruption Bill, less than 50 days after taking office in the Indian capital.

Delhi Chief Minister Kejriwal resigns

POSTED: 14 Feb 2014 23:19
Delhi Chief Minister Arvind Kejriwal announced his resignation on Friday to protest the blocking of an anti-corruption Bill, less than 50 days after taking office in the Indian capital.

NEW DELHI – Delhi Chief Minister Arvind Kejriwal announced his resignation on Friday to protest the blocking of an anti-corruption Bill, less than 50 days after taking power in the Indian capital. Read more of this post

Singapore SMEs start to push back at rising rents; ASME head bemoans ‘cartel’ of institutional landlords using ‘draconian measures’

PUBLISHED FEBRUARY 14, 2014

BUDGET ROUNDTABLE ON VIDEO

SMEs start to push back at rising rents

ASME head bemoans ‘cartel’ of institutional landlords using ‘draconian measures’

TEH SHI NING TSHINING@SPH.COM.SG

[SINGAPORE] Singapore’s small and medium-sized enterprises (SMEs) are getting proactive about the mounting rent pressures they face.

The Association of Small and Medium Enterprises (ASME) is studying the feasibility of a database to track industrial and retail rents. This would record effective rents rather than contractual ones, providing greater transparency for SMEs and their landlords, ASME president Kurt Wee said at BT’s Budget Roundtable. Read more of this post

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