Fitch Warns of ‘Bubble-Like Symptoms’ for Indonesia

Fitch Warns of ‘Bubble-Like Symptoms’ for Indonesia

By Vanesha Manuturi on 08:53 pm Mar 13, 2014

Jakarta. Fitch Ratings warned investors to remain cautious on Indonesia’s growth this year on the back of “bubble-like symptoms.” Read more of this post

Singapore to regulate virtual currencies; The move will make the city-state only the second country in the world to bring in such rules, following the United States

Singapore to regulate virtual currencies

Thursday, Mar 13, 2014

Reuters

SINGAPORE – Singapore’s central bank said on Thursday it plans to regulate virtual currencies to address potential money laundering or terrorism finance risks they might pose. Read more of this post

Haze hits ‘hazardous’ levels in Port Klang

Haze hits ‘hazardous’ levels in Port Klang

KUALA LUMPUR — The haze has breached hazardous levels in Malaysia with Port Klang and Banting at 6am this morning (March 14), with Air Pollutant Index (API) readings rising to 350 and 318, respectively. Read more of this post

Which European Countries Will Suffer The Most If Russia Turns Off The Gas

Which European Countries Will Suffer The Most If Russia Turns Off The Gas

Tyler Durden on 03/13/2014 16:32 -0400

With the Sunday Crimean referendum seemingly unstoppable now, its outcome certain, it is set to unleash a chain of events that is not entirely predictable but is at best, ominous, as it will involve the launch of trade, economic and financial sanctions against Russia (despiteChina’s stern disapproval), which will lead to a “symmetric” response in kind by Moscow. And in a worst case escalation scenario, should game theory completely collapse and everyone starts defecting from a cooperative equilibrium state, the first thing to go will be European gas exports from Russia, anywhere from one day to indefinitely. So which European countries are most exposed to the whims of Gazprom? Thefollowing map from the WSJ, shows just how reliant on Russian gas exports most European countries are. Read more of this post

Revenue Accounting Could Hit Loans, Bonuses; The prevalence of estimates in the new revenue recognition standard could cause sudden spikes or drastic dives in reported revenue and earnings

March 13, 2014

CFO.com | US

Revenue Accounting Could Hit Loans, Bonuses

The prevalence of estimates in the new revenue recognition standard could cause sudden spikes or drastic dives in reported revenue and earnings. Read more of this post

The Implementation of Industrial Parks: Some Lessons Learned in India

The Implementation of Industrial Parks: Some Lessons Learned in India

Yannick Saleman 

World Bank – Competitive Industries Global Practice

Luke Jordan 

World Bank – Competitive Industries Global Practice
March 1, 2014
World Bank Policy Research Working Paper No. 6799

Abstract: 
Industrial parks are as popular as they are controversial, in India and globally. At their best they align infrastructure provision and agglomeration economies to jolt industrial growth. More often, they generate negative spill-overs, provide handouts, sit empty, or simply do not get built. This paper disaggregates how parks are built and how they fail. Read more of this post

Global shippers must tighten belt, China’s Cosco chairman says

Updated: Thursday March 13, 2014 MYT 5:03:04 PM

Global shippers must tighten belt, China’s Cosco chairman says

BEIJING: Global shipping firms must prepare for another tough year as the glut in global capacity will continue to weigh on profits and margins, the chairman of China’s biggest shipping group, China Ocean Shipping Group Co (Cosco) said. Read more of this post

China’s premier warned that future defaults on bonds and other financial products were “unavoidable”

Last updated: March 13, 2014 2:04 pm

Fresh corporate default tests China’s resolve

By Lucy Hornby and Jamil Anderlini in Beijing

China’s premier warned on Thursday that future defaults on bonds and other financial products were “unavoidable” as the failure of a steel mill in the north of the country to pay off loans risks triggering a cascade of bad debt. Read more of this post

Why is it so expensive to build a bridge in America? The answer: Our greedy and undemocratic political culture

Why is it so expensive to build a bridge in America?

The answer: Our greedy and undemocratic political culture

By Ryan Cooper | March 10, 2014

It’s become commonplace to note that U.S. infrastructure costs are very high. What is less appreciated is the staggering scale of the difference between American infrastructure costs and those of other nations. Like our health care, U.S. infrastructure isn’t just a tad higher than the next most expensive country — we pay something like twice as much as our closest peer (usually the U.K., which is itself a very expensive place). And when you compare America to, say, Spain, we’re talking order-of-magnitude differences. Read more of this post

How Finance Gutted Manufacturing

How Finance Gutted Manufacturing

Since the 1980s, financial market pressures have driven companies to hive off activities that sustained manufacturing

Monday, March 10, 2014

In May 2013 shareholders voted to break up the Timken Company—a $5 billion Ohio manufacturer of tapered bearings, power transmissions, gears, and specialty steel—into two separate businesses. Their goal was to raise stock prices. The company, which makes complex and difficult products that cannot be easily outsourced, employs 20,000 people in the United States, China, and Romania. Ward “Tim” Timken, Jr., the Timken chairman whose family founded the business more than a hundred years ago, and James Griffith, Timken’s CEO, opposed the move. Read more of this post

As Stock Picking Comes Back In, ETF Use Goes Out

Mar 13, 2014

As Stock Picking Comes Back In, ETF Use Goes Out

DAN STRUMPF

Here’s the latest evidence that stock picking is back: Investors are buying and selling fewer exchange-traded funds.

As big macroeconomic headlines recede, ETFs are falling out of favor. ETF volumes have dipped this year to about 16.5% of total equity volumes, down from 16.7% in 2013, according to analysts at Credit SuisseCSGN.VX -1.59% Trading Strategy. The data suggest that investors are increasingly favoring trades in individual stocks. Read more of this post

Celltrion plunges on delayed sales recognition

Celltrion plunges on delayed sales recognition

2014.03.12 16:58:48

Shares of Celltrion plunged Wednesday after its announce of poor earnings.
The company’s stock price declined 8.30 percent to close at 43,100 won, led by foreign investors.
The biosimilar maker said its 2013 operating profit reached 99.8 billion won ($93.26 million), down 48.9 percent from a year ago. Sales fell 35.4 percent to 226.2 billion won and net profit sank 41.3 percent to 102.5 billion won.  Read more of this post

Looming IKEA’s entry into S. Korea reshapes furniture market

Looming IKEA’s entry into S. Korea reshapes furniture market

2014.03.13 17:47:47

Global furniture behemoth IKEA will be entering South Korea eight months later. IKEA is preparing to make foray into the Korean market by offering up to 50 percent lower prices based on flat-pack, do-it-yourself (DIY) furniture, a set of separated pieces of furniture for easier mobility, and independent production and distribution network.  Read more of this post

Chaebol fear ISS proposals ahead of yearly AGMs; ISS is releasing reports opposing reappointments of many of their directors

Chaebol fear ISS proposals ahead of yearly AGMs

Morgan Stanley unit wields influence over foreign investors

BY KIM HYUN-YE [ssh@joongang.co.kr]

Mar 14,2014

Tension is growing at local companies ahead of their shareholders’ meetings as the U.S.-based International Institutional Shareholder Services (ISS) is releasing reports opposing reappointments of many of their directors.  Read more of this post

‘Shark processing hub’ of China sees business decline

‘Shark processing hub’ of China sees business decline

Staff Reporter 

2014-03-12

Puqi, a fishing port in eastern China’s Zhejiang province, has long been a center for the shark processing industry, but under pressure from foreign animal protection groups the port is seeing a sharp drop in its profits. Read more of this post

Local governments in China addicted to debt

Local governments in China addicted to debt

Staff Reporter 

2014-03-13

Local governments in China have incurred massive debts to fund huge infrastructural projects, a practice dubbed by scholars as an addiction which may prove difficult to wean, reports the China Youth Daily, the official newspaper of the Communist Youth League of China. Read more of this post