China’s Local-government debt: Bridging the fiscal chasm; Fancy infrastructure is one example of local-government largesse. Which province is deepest in debt as a result?

China’s Local-government debt: Bridging the fiscal chasm; Fancy infrastructure is one example of local-government largesse. Which province is deepest in debt as a result?

Feb 22nd 2014 | HONG KONG | From the print edition

CHINA’S provincial administrations are often referred to as “local” governments. But the phrase does not do them justice. The province of Guangdong, for example, boasts more than 105m people and a GDP worth more than $1 trillion. Only 11 countries (including China itself) have a bigger population and only 15 have a larger economy. Read more of this post

S. Korea’s Park vows to rebalance export-led economy

Updated: Tuesday February 25, 2014 MYT 12:14:11 PM

S. Korea’s Park vows to rebalance export-led economy

SEOUL: South Korean President Park Geun-Hye unveiled Tuesday a three-year plan to rebalance the export-reliant economy, investing US$3.7bil on start-ups, boosting domestic spending and getting more young people and women in the workforce. Read more of this post

China’s New IPO Regime — Manipulation or Emancipation? CSRC Suspends IPOs Until “Two Sessions” in March

China’s New IPO Regime — Manipulation or Emancipation?

2014-02-24 18:05:39

Peter Fuhrman, Chairman and CEO China First Capital

In English we use the phrase ” bee in one’s bonnet” to explain someone with an obsession for a particular point of view. In Chinese, a similar idiom is 挥之不去, meaning you can’t wipe out the stain. Read more of this post

348 creditor suits against Shanghai steel magnates in 28 days

348 creditor suits against Shanghai steel magnates in 28 days

Staff Reporter 

2014-02-25

The troubles of China’s steel industry have culminated in charges filed by creditor banks against some industry leaders, notably Xiao Jiashou and Zhou Huarui. Read more of this post

Monopoly in China’s civil aviation still strong despite reforms

Monopoly in China’s civil aviation still strong despite reforms

Staff Reporter

2014-02-25

After more than three decades of economic reforms, the civil aviation sector in China is still monopolized by the nation’s six leading civil aviation groups in many areas, including air routes, booking systems, ground services, aviation fuel and aviation supplies. Read more of this post

South Korea’s financial authorities sent an ‘ultimatum’ to cash-strapped Dongbu Group to go ahead with restructuring in prompt manners

Financial regulator urges Dongbu to launch restructuring

2014.02.25 16:36:55

South Korea’s financial authorities sent an ‘ultimatum’ to cash-strapped Dongbu Group to go ahead with restructuring in prompt manners.  Read more of this post

‘Most beautiful CPPCC member’ Liu Yingxia sacked without explanation

‘Most beautiful CPPCC member’ Liu Yingxia sacked without explanation

Staff Reporter

2014-02-25

Liu Yingxia attends the third plenary session of the 11th CPPCC national committee in Beijing on March 10, 2013. (Photo/CNS)

Liu Yingxia, dubbed “the most beautiful member of the Chinese People’s Political Consultative Conference (CPPCC),” has been thrust under China’s political spotlight following her unexplained sacking from the government’s political advisory body. Read more of this post

Foreign nationals quit China due to smog and layoffs

Foreign nationals quit China due to smog and layoffs

Staff Reporter

2014-02-25

While heavy air pollution has invaded most of China’s provinces and prompted Beijing to take action to curb the incessant haze, it has boosted the business of relocation firms such as Santa Fe Relocations as many foreign workers are opting to leave the country because of the smog, reports Beijing’s Economic Weekly. Read more of this post

The South Korean government will roll up sleeves to encourage a ‘second venture boom’ in a bid to boost dynamics of the nation’s economy.

Gov’t to reignite 2nd venture boom

2014.02.25 16:18:58

The South Korean government will roll up sleeves to encourage a ‘second venture boom’ in a bid to boost dynamics of the nation’s economy.
In a move, the government is set to inject four trillion won ($3.7 billion) by 2017 and offer tax deduction on angel investment of up to 15 million won for three years.  Read more of this post

NPS gets tough on sketchy directors

NPS gets tough on sketchy directors

Feb 25,2014

The National Pension Service (NPS), the country’s largest investor, made changes to its voting guidelines so it can reject the appointment of corrupt directors to boards of companies it invests in. Read more of this post

For every Fuji Xerox there’s a Sony Ericsson: the pros and pitfalls of merging your business

For every Fuji Xerox there’s a Sony Ericsson: the pros and pitfalls of merging your business

Published 24 February 2014 11:28, Updated 25 February 2014 09:31

Michael McQueen

Wedding bells are ringing. Business marriages seem to be in season. First there were the Microsoft-Nokia nuptials last year and now the blessed union of WhatsApp and Facebook. Even one-time retail rivals Myer and David Jones are flirting with the idea of engaging in consummation rather than competition. Read more of this post

HSBC can’t shrink its vast banking empire fast enough to satisfy investors

HSBC can’t shrink its vast banking empire fast enough to satisfy investors

By Jason Karaian @jkaraian February 24, 2014

The numbers: What’s $2 billion between friends? Last year, banking giant HSBC generated $22.6 billion in pre-tax profits, up 9% from the previous year, it reported today. But analysts were looking for a result closer to $24.6 billion; the bank’s share price sank by nearly 4% at the London open. Read more of this post

Turning Japan into a global gambling hotspot may be just the ticket for Abenomics

Turning Japan into a global gambling hotspot may be just the ticket for Abenomics

By Lily Kuo @lilkuo February 24, 2014

The world’s biggest gambling company has vowed to spend “whatever it takes” (up to $10 billion) to set up a casino in Japan. Las Vegas Sands CEO Sheldon Adelson’s pledge comes at an auspicious time, with the Japanese government considering legalizing casinos and in desperate need of an economic boost. Read more of this post

Why so many “activist” investors are barraging companies with money-making schemes

Why so many “activist” investors are barraging companies with money-making schemes

By John McDuling @jmcduling February 24, 2014

It’s not just Carl Icahn. Activist investors are everywhere at the moment. They’re agitating for change at companies as diverse as Darden Restaurants, the owner of the Red Lobster and Olive Garden restaurant chains, and Dow Chemical Co, the 116-year-old conglomerate. Read more of this post

How Citigroup stumbled in the Mexican housing market

How Citigroup stumbled in the Mexican housing market

1:12am EST

By Elinor Comlay and David Henry

ZUMPANGO, Mexico/NEW YORK – (Reuters) – Just outside the town of Zumpango, about an hour from Mexico City, packs of stray dogs sniff around abandoned homes in a half-empty neighborhood. Read more of this post

Compliance becomes hotter issue for U.S. firms in China: report

Compliance becomes hotter issue for U.S. firms in China: report

Mon, Feb 24 2014

By Adam Jourdan

SHANGHAI (Reuters) – U.S. companies in China placed greater focus on compliance last year after several high profile probes into corruption and high pricing, but rising costs and a skills shortage remained their main concerns, the American Chamber of Commerce in Shanghai said in its annual report. Read more of this post

Britain’s biggest supermarket chain, Tesco Plc, is reportedly dropping its brand in China when it officially enters into a JV with China Resources Enterprise

Tesco brand reportedly to be dropped in China

China Daily February 25, 2014 1:20 pm

Britain’s biggest supermarket chain, Tesco Plc, is reportedly dropping its brand in China when it officially enters into a joint venture with China Resources Enterprise Ltd, further consolidating the latter as the largest retailer in the country in terms of market share. Read more of this post