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How cities build resilience; It is a city with residents of 85 ethnicities, but NZ’s capital, Wellington, has managed to build social capital by avoiding ethnic enclaves and huge income gaps among suburbs, and by investing in facilities and gardens

How cities build resilience

SINGAPORE — It is a city with residents of 85 ethnicities, but New Zealand’s capital, Wellington, has managed to build social capital by avoiding ethnic enclaves and huge income gaps among suburbs, and by investing in facilities and community gardens.

BY NEO CHAI CHIN –

JUNE 5

SINGAPORE — It is a city with residents of 85 ethnicities, but New Zealand’s capital, Wellington, has managed to build social capital by avoiding ethnic enclaves and huge income gaps among suburbs, and by investing in facilities and community gardens. Read more of this post

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In Japan, labor crunch pushes businesses to reform

In Japan, labor crunch pushes businesses to reform

TOKYO – Don Quijote and Uniqlo, two of Japan’s best-known mass-market retailers, aren’t waiting for the government’s new growth policies due later this month before implementing their own labor reforms.

JUNE 5

TOKYO – Don Quijote and Uniqlo, two of Japan’s best-known mass-market retailers, aren’t waiting for the government’s new growth policies due later this month before implementing their own labor reforms.

While many labor-intensive businesses face a shortage of low-wage workers as Japan’s economy perks up, discount chain Don Quijote Holdings is drawing five times more job seekers since it bucked tradition and eased application requirements. Read more of this post

Jokowi’s presidential campaign budget 4 times Prabowo’s

Jokowi’s presidential campaign budget 4 times Prabowo’s

JAKARTA — The month-long campaign for the Indonesian presidential election on July 9 started yesterday, with frontrunner Mr Joko Widodo leading Mr Prabowo Subianto not only in opinion polls, but also in the campaign budget.

BY HERA DIANI –

JUNE 5

JAKARTA — The month-long campaign for the Indonesian presidential election on July 9 started yesterday, with frontrunner Mr Joko Widodo leading Mr Prabowo Subianto not only in opinion polls, but also in the campaign budget. Read more of this post

Economic growth in the northern Chinese city of Taiyuan, Shanxi province, has crashed to zero from 12 percent in one year on coal bust

China City Crash-Lands to Zero Growth on Coal Bust

Economic growth in the northern Chinese city of Taiyuan, Shanxi province, has crashed to zero from 12 percent in one year. Yan Xiaofeng’s coal-equipment business has gone down with it.

Yan, 38, said last week that he’s recorded 1 million yuan ($160,000) in sales so far this year from supplying gear and parts to coal mines, down from more than 10 million yuan a year in the boom times of 2009. “The economy in Shanxi is very simple: It’s all about coal,” said Yan, who’s been in business in the region for 15 years. “When the coal industry is in decline, every other business follows.”

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Gupta Becomes Billionaire as Havells Climbs to Record

Gupta Becomes Billionaire as Havells Climbs to Record

Qimat Rai Gupta became a billionaire as shares of Havells India Ltd. (HAVL), the nation’s largest electrical parts maker by market value, surged to a record.

Gupta, 77, and his family control almost 62 percent of the company, according to exchange filings, a stake valued at $1.4 billion, according to the Bloomberg Billionaires Index. Anil Sharma, a spokesman for Havells, confirmed the family stake in the company based in Noida, near New Delhi.

The maker of lighting products, cables and fans has benefited from rising incomes in the world’s second-most populous nation as consumers shift to branded products, Firstcall Research said in a June 3 report. Havells owns Sylvania, a European maker of Lumiance lighting products.

“They have shown steady and quality performance in terms of growth and earnings,” said Gautam Chhaochharia, head of research at UBS Securities India Pvt. in Mumbai, who has a buy recommendation on the Havells. “That’s given investors confidence in the stock.”

The stock rose for a fifth day, advancing 1.1 percent to a record 1,067.55 rupee at the close in Mumbai yesterday. The shares have surged 35 percent this year, twice the gain for the S&P BSE Sensex (SENSEX) benchmark gauge.

Gupta, who’s the chairman of Havells, controls the fortune along with his family, including son Anil Rai Gupta and daughter-in-law Sangeeta Gupta.

School Teacher

In 1958, Gupta, then 21, quit his job as a school teacher in India’s Punjab state and moved to Delhi. With less than $200, he started a trading company selling fixtures and electric cables to businesses, according to Havells’ website.

He bought the Havells brand more than a decade later and expanded it from a garage-based manufacturing and distribution company to a business with about a dozen factories in India, as well as in Europe, Latin America, Africa and China, according to its website.

The company acquired SLI Holdings Inc.’s lighting business for 227 million euros ($309 million) in 2007 and sells electrical products under brand names including Crabtree, Concord and Standard, according to its website.

“Over a period of time, they have consistently grown with stable, improving margins, which have led to earnings growth,” UBS’s Chhaochharia said.

To contact the reporter on this story: Netty Ismail in Singapore at nismail3@bloomberg.net

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What it Means for Prem Watsa’s Acquisition of Thomas Cook India

What it Means for Prem Watsa’s Acquisition of Thomas Cook India

by Ankur ShahJune 04, 2014, 1:00 pm

June 4, 2012

On May 21, 2012 Prem Watsa, who is also known as the ‘Warren Buffett of Canada’ bought a 76.81% stake in Thomas Cook India for INR 50 per share. Admittedly he got a good deal by purchasing the shares at an 18% discount to the closing price on the last trading day before the deal was announced. Although pure value investors don’t try to time the market, I do think it was a brave decision to purchase a travel company during the onset of a renewed global recession. Furthermore, India’s 5.3% 1st quarter GDP print, the lowest in the past nine years, makes me even more cautious about the current fragile state of the market. Regardless, a true value investor is buying when others are selling. I just think that there is a lot more selling to come. But I digress. Getting back to the point, there is still an opportunity for you make money from this deal even though it’s already been announced through merger arbitrage. Read more of this post

Ben Graham: Should Rich but Losing Corporations Be Liquidated?

Benjamin Graham

12/27/1999 @ 12:00AM

Should Rich but Losing Corporations Be Liquidated?

THE unprecedented spectacle confronts us of more than one industrial company in three selling for less than its net current assets, with a large number quotd at less than their unencumbered cash. For this situation we have pointed out, in our previous articles, three possible causes: (a) Ignorance of the facts; (b) Compulsion to sell and inability to buy; (c) Unwillingness to buy from fear that the present liquid assets will be dissipated. Read more of this post

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