Bamboo Innovator

Family, Corruption and Sage Words From a News Agency; The Chinese language is revealingly rich in mordant sayings about the nexus of family, officialdom and corruption

Family, Corruption and Sage Words From a News Agency

By CHRIS BUCKLEY

June 20, 2014

The Chinese language is revealingly rich in mordant sayings about the nexus of family, officialdom and corruption. When a man becomes an official, one saying goes, even his “chickens and dogs become immortals.” And a commentary by the state news agency Xinhua that appeared Friday, laced with similar phrases, was likely to be worrisome reading for Ling Jihua, once the powerful gatekeeper to the Communist Party’s leadership. Read more of this post

China quietly launches probe of foreign non-government outfits: media

China quietly launches probe of foreign non-government outfits: media

6:18am EDT

BEIJING (Reuters) – China has quietly begun a probe into the operations of foreign non-government bodies in the country, to prepare for tighter regulations in future, as part of a security drive ordered by a new national panel headed by President Xi Jinping.

Non-government organizations have mushroomed in China in recent years, and can have a confrontational relationship with the government, especially if they work with sensitive groups, such as sex workers or drug addicts. Read more of this post

Westports sets world record for container productivity

Updated: Friday June 20, 2014 MYT 5:35:57 PM

Westports sets world record for container productivity

KUALA LUMPUR: Westports Malaysia Sdn Bhd container operations team has scored another first when set a new world record for container terminal productivity, notching an impressive 793 moves in one hour.

This feat was achieved over the China Shipping container vessel, CSCL Le Havre (9572 TEU vessel), which operated on the AEX7 East service in the network linking Asia and Europe.  Read more of this post

THE booming presence of developers from China in Johor has not only ruffled feathers among local developers but also sparked concerns of the Singapore government due to the massive land reclamation works

Updated: Saturday June 21, 2014 MYT 6:55:54 AM

Stormy property landscape

BY NG BEI SHAN

THE booming presence of developers from China in Johor has not only ruffled feathers among local developers but also sparked concerns of the Singapore government due to the massive land reclamation works.

Following the high-profile entrance of Guangzhou-based Country Garden Holdings Co Ltd, which launched 9,000 units in Danga Bay at one-go in 2013, all eyes are now on other developers from China who are expected to adopt carpet bombing kind of development. Read more of this post

Palm oil industry needs to invest more in downstream activities

Updated: Saturday June 21, 2014 MYT 7:08:59 AM

Palm oil industry needs to invest more in downstream activities

BY DANIEL KHOO

Money to be made: Pemandu is pushing for the palm oil industry to capture the full potential of downstream activities, especially in the finished segments that generate high value income such as oleo-derivatives.

THE local palm oil sector which has been driven by the upstream segment in the past decades is set to change its course through increased contribution from the downstream segment in the coming years, according to the Performance Management and Delivery Unit (Pemandu), and Malaysian Palm Oil Board (MPOB). Read more of this post

Closer Look: Xi’s Leadership of Top Economic Group Follows Pattern

06.20.2014 18:22

Closer Look: Xi’s Leadership of Top Economic Group Follows Pattern

While Xinhua set a precedent by naming the members of the key party body, the fact it is led by the general secretary is unsurprising

By staff reporter Wu Peng

(Beijing) – Communist Party general secretary Xi Jinping’s chairmanship of a top economic decision-making group has generated discussion about his expanding power and role in China’s reforms. Read more of this post

When a ‘Liquid-Alt’ Fund Loses Steam

Jun 20, 2014

THE INTELLIGENT INVESTOR

When a ‘Liquid-Alt’ Fund Loses Steam

JASON ZWEIG

If you trade up for a “liquid-alternative” fund, make sure you understand you also are making a trade-off.

That is the lesson that emerges from the rise and fall of the Natixis ASKN.FR -1.19%G Diversifying Strategies Fund, a pioneering portfolio that has just been put out of its misery by its manager.

Liquid-alternative funds generally offer the prospect of doing well when U.S. stocks do poorly. That hope comes at a price, however: Such funds, which tend to charge high fees, typically do poorly when U.S. stocks do well. Investors who don’t understand this link will inevitably be sorry. Read more of this post

Far-reaching new rules aimed at catching overseas tax cheats take effect July 1. Here’s what you need to know to avoid running afoul of the IRS

Offshore Accounts: What to Do Now

Far-reaching new rules aimed at catching overseas tax cheats take effect July 1.

LAURA SAUNDERS

Updated June 20, 2014 6:47 p.m. ET

The federal government’s campaign to track down money held by U.S. taxpayers in foreign countries shifts into high gear July 1.

That is when the main provisions of the Foreign Account Tax Compliance Act, known as Fatca, come into force. Read more of this post

China Auditor Finds Irregularities in China Resources; Audit Reveals Misused Funds, Improper Bidding Procedure and Failing to Seek Approvals

China Auditor Finds Irregularities in China Resources

Audit Reveals Misused Funds, Improper Bidding Procedure and Failing to Seek Approvals

June 20, 2014 6:08 a.m. ET

BEIJING—China’s state auditor said Friday that it has found irregularities in the operations of the state-owned conglomerate China Resources, including misused funds, improper bidding procedure and failure to seek approvals. The audit also found evidence that some executives were involved in “serious violations of law and discipline.”

The audit results came after the government started investigating the activities of several former executives of the group. The auditor didn’t name or blame any officials. Read more of this post

Hedge funds: the mysterious power pulling strings on Wall Street; Hedge funds operate with nearly free rein and on murky ethical ground, bullying banks and recruiting the best – all to questionable results

Hedge funds: the mysterious power pulling strings on Wall Street

Hedge funds operate with nearly free rein and on murky ethical ground, bullying banks and recruiting the best – all to questionable results

Chris Arnade

theguardian.com, Sunday 1 June 2014 15.00 BST

Hedge funds can only have ‘sophisticated investors’ as customers, meaning clients with assets of more than at least $1m. Photograph: Alamy

Hedge funds, those financial funds run by extraordinarily rich men, are going mainstream. Not content to be investments for just the super rich and super connected, they are starting to offer services to the average investor.  Read more of this post

Cold Facts in Emerging Market Fridges

June 20, 2014, 10:14 am

Cold Facts in Emerging Market Fridges

by Tassos Stassopoulos, AllianceBernstein

It’s not easy for investors to grasp the dynamics of consumer spending in diverse emerging markets. We think the best way is to look inside the refrigerators of people across the developing world. Read more of this post

How Morningstar Category Flux Impacts Peer Group Analysis

How Morningstar Category Flux Impacts Peer Group Analysis

Last updated May 08, 2014

Morningstar’s mutual fund categories are among the most frequently cited for peer group performance and investment approach comparisons. Our study, however, has found that membership in a Morningstar category can evolve considerably over time. This can create a dilemma for investors who base their decisions solely, or even mostly, on peer group percentile rankings. Read more of this post

Ariel Investments May Letter: Market Caps And Valuations

Ariel Investments May Letter: Market Caps And Valuations

by VW StaffJune 20, 2014, 9:00 am

Ariel Investments’ portfolio commentary for the month ended May, 2014.

The U.S. stock market has performed erratically in 2014. For instance, both the S&P 500 and the Russell 2000 fell more than –2.5% in January but recovered to gain more than +4.5% in February. In April, the large-cap S&P 500 gained +0.74%, while the smallcap Russell 2000 lost –3.88%. It was tough to tell what the market was saying earlier this year, but now it is becoming more clear. While equity investors do not seem to think the economy is contracting, their confidence in the economic recovery’s power has
wavered.

  Read more of this post