Bamboo Innovator

Indonesia’s president to weigh into mineral export confusion

Indonesia’s president to weigh into mineral export confusion

Wednesday, Dec 11, 2013

Reuters

JAKARTA, Dec 11 (Reuters) – Indonesia’s president will make the final decision in a furious debate over next month’s scheduled ban on the export of unprocessed metal ore, an issue that pits nationalist-minded lawmakers against officials desperate not to lose revenue. Read more of this post

Many Indonesians think vote-buying ‘acceptable’: Poll

Many Indonesians think vote-buying ‘acceptable’: Poll

Friday, December 13, 2013 – 18:18

AFP

JAKARTA – More than 40 percent of Indonesian voters consider politicians seeking to buy support at elections acceptable, a survey showed Friday, months before national polls in the graft-ridden country. In what it described as an “alarming” survey, Jakarta-based pollster Indikator found that 41.5 percent of 15,600 people interviewed did not have a problem accepting cash or a gift from would-be lawmakers. Read more of this post

Osaka Seeks to Lure Biggest Pension Fund to Airport Concessions

Osaka Seeks to Lure Biggest Pension Fund to Airport Concessions

New Kansai International Airport Co. is seeking to attract Japan’s state-run retirement fund to a sale of two airport concessions that could raise as much as 1.2 trillion yen ($12 billion). Read more of this post

McKinsey Return to BOE Spurs 1960s Memory of Unfinished Business

McKinsey Return to BOE Spurs 1960s Memory of Unfinished Business

McKinsey & Co. consultants working at the Bank of England are competing with the ghosts of their predecessors.

Governor Mark Carney is giving the U.S. firm another shot at transforming the three-century-old institution, more than four decades after the BOE first hired it to conduct a full-scale examination of operations. The impact of the original review was “limited,” according to former BOE official Guy de Moubray, who participated in the study. Read more of this post

The 2014 Contrarian Investment Tour, From Rupees to Copper

The 2014 Contrarian Investment Tour, From Rupees to Copper

Don’t try to catch a falling knife. It’s one of the oldest saws on Wall Street. But to make a lot of money, sometimes you have to get a little bloody.

So say contrarians like Brian Singer. The risk is great, “but the return is of such an astounding magnitude, you’re willing to do it,” says Singer, manager of the William Blair Macro Allocation Fund (WMCNX). Read more of this post

How Ireland Charmed the Germans to Lead Nation Out of Bailout Wilderness

How Ireland Charmed the Germans to Lead Nation Out of Bailout Wilderness

As a cold day last February turned to early evening twilight, Alan Dukes strode through the lobby of Dublin’s Merrion Hotel when a familiar figure lurking in the shadows stopped him.

Sean Kinsella, private secretary to Finance Minister Michael Noonan, told the banker that his boss wanted to see him. The pair scurried across the road to Noonan’s office. There, Dukes learned for the first time of the plan to close the bank he led, the former Anglo Irish Bank Corp., emblem of the financial boom and bust that had crippled Ireland. Read more of this post

Haircut Deficit: Kids Living in Basements a Drag on U.S. Services Spending

Haircut Deficit: Kids Living in Basements a Drag on U.S. Services Spending

The U.S. economy is suffering a service interruption.

Consumer spending on services — everything from rents and water bills to health care and haircuts — is a laggard as the economy has recovered from the worst recession since the Great Depression. Such expenditures adjusted for inflation have risen 6.3 percent since mid-2009, compared with a 34 percent surge in outlays on durable goods such as automobiles and appliances, according to data from the Commerce Department in Washington. Read more of this post

With a hole in its heart, South Africa buries Mandela

With a hole in its heart, South Africa buries Mandela

8:27pm EST

By Ed Cropley

QUNU, South Africa (Reuters) – South Africa buries Nelson Mandela on Sunday, closing one momentous chapter in its tortured history and opening another in which the multi-racial democracy he founded will have to discover if it can thrive without its central pillar. Read more of this post

Are Bitcoins the Criminal’s Best Friend?

Are Bitcoins the Criminal’s Best Friend?

Until very recently, the virtual currency known as bitcoins could be mistaken for just another Internet fad (the Winkelvoss twins of Facebook fame even had a role). But when federal law enforcement closed the “Silk Road,” the wildly popular online illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policy makers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the “Dark Web,” with complete anonymity and, it seems, impunity. Read more of this post

Most Americans Don’t Know Bitcoin While Some Guess Xbox

Most Americans Don’t Know Bitcoin While Some Guess Xbox

Some Americans think Bitcoin is an Xbox game. Others think it might be an iPhone app. The majority have no idea it’s a virtual currency they can use to buy everything from T-shirts to Tesla Motors sedans, according to a Bloomberg National Poll. Only 42 percent of Americans who responded to the Dec. 6-9 telephone survey correctly identified Bitcoin, which has gained more than 80-fold in value this year as its popularity expands. Read more of this post

Bitcoins Fail Currency Test in Scandinavia’s Richest Nation

Bitcoins Fail Currency Test in Scandinavia’s Richest Nation

Bitcoins were dealt a blow in Norway as the government of Scandinavia’s richest nation said the virtual currency doesn’t qualify as real money.

“Bitcoins don’t fall under the usual definition of money or currency,” Hans Christian Holte, director general of taxation in Norway, said in an interview. “We’ve done some assessments on what’s the right and sound way to handle this in the tax system.” Read more of this post

Emerging-Market Investing: It’s Not About the Growth; Most investors get burned—over and over—in emerging markets

Emerging-Market Investing: It’s Not About the Growth

Most investors get burned—over and over—in emerging markets

BRETT ARENDS

Dec. 13, 2013 11:32 a.m. ET

IN 2012 THE ARGENTINE STOCK market plunged by 40 percent in U.S. dollar terms. Meanwhile, the stock market of Colombia rose by 30 percent. The Egyptian market rose more than 40 percent, while that of nearby Qatar ended the year in the red. Kenya’s rose 55 percent, while the Ukraine’s was halved. It may be all up and down, but this, not growth, is the prime attraction of investing part of your portfolio in stocks in developing countries. Done right, such so-called emerging- and frontier-market investing can actually reduce the risk in a portfolio, thereby increasing risk-adjusted returns. But, naturally enough, it is rarely done right. On the contrary, almost everything investors hear from the Wall Street marketing machine about investing in developing countries is wrong. As a result, when they do allocate funds to these countries, most investors typically do it for the wrong reasons, at the wrong times and in the wrong way. Read more of this post

China’s Debts Keep On Rolling

China’s Debts Keep On Rolling

ALEX FRANGOS

Dec. 11, 2013 9:24 a.m. ET

China’s economy needs change. What it’s getting for now is more debt.

Beijing’s broadest measure of credit, total social financing, has expanded by 19% in the past 12 months through November. November’s monthly numbers were stronger than expected and lending as a percentage of the economy is close to 200%, up from 123% five years ago. Read more of this post

Some Stunning Perspective: China Money Creation Blows US And Japan Out Of The Water

Some Stunning Perspective: China Money Creation Blows US And Japan Out Of The Water

Tyler Durden on 12/11/2013 09:47 -0500

With private sector loan creation in the US and Japan virtually unchanged since Lehman levels (and the US in danger of posting a negative comp in a very months) and Europe loan creation contracting at a record pace, it falls upon the Fed and Bank of Japan (and possibly the ECB soon) to inject the much needed credit-money liquidity into the system. And, as everyone knows, month after month the Fed and the BOJ diligently create $85 billion and $75 billion in new outside money out of thin air (that this “credit” ends up in the stock market is a different topic). Read more of this post