In Indonesia, a New Breed of Politician Is on the Rise

Updated October 8, 2013, 10:15 p.m. ET

In Indonesia, a New Breed of Politician Is on the Rise

‘What We’re Seeing Is Extraordinary”

BEN OTTO And ANDREAS ISMAR

Fifteen years after the overthrow of strongman Suharto, and less than a year before Indonesia’s first transition between two directly elected presidents, leaders that bear little resemblance to their predecessors are emerging in this young democracy of more than 240 million people. They are mayors, governors and technocrats with a reputation for clean hands in a country dogged by corruption. Many have risen with little money and few connections in a political system where leaders traditionally hail from the military or dynastic families. Read more of this post

50% of Jakarta Public Transport Drivers Don’t Have Licenses

50% of Jakarta Public Transport Drivers Don’t Have Licenses

By Suara Pembaruan on 4:46 pm October 8, 2013.
Category Law & Order, News
Almost half of Jakarta’s 28,000 public transport drivers are either not in possession of a motor vehicle license or are too young to be behind the wheel, according to an official with the city’s transportation council. “Around 50 percent of public transport drivers in Jakarta don’t have a driver’s license,” Azas Tigor Nainggolan, chairman of Jakarta Transportation Council told BeritaSatu on Tuesday. “Our field observations show that, mainly at night, many of the drivers are in fact minors. Sometimes, they’re even driving drunk.” Read more of this post

We Have Made India The Tech Capital Of Biometrics: Nandan Nilekani

We Have Made India The Tech Capital Of Biometrics: Nandan Nilekani

by Rohin Dharmakumar, Seema Singh, N.S. Ramnath | Oct 8, 2013

Nandan Nilekani on the Aadhaar project’s scope, its vulnerabilities and its future

Q. How long does the UIDAI hold transaction data and what steps has it taken to ensure that the privacy of users’ data—demographic & transactional—will be safeguarded from any third party?
We are in the process of finalising the policy for that. UIDAI only gets the location, time and the device from which the authentication request came from. It is a federated database with in-built optimal ignorance among various players. At the design level itself, we don’t have transactional data, except that we had an authentication request. When we do authentication, if we get a claim that it is a ‘false accept’, we, in turn, have to investigate and that’ll decide how long we retain the data. We have to strike a balance between privacy issues and liability issues, looking at practices of banks and switching companies. But let me tell you that we take great care to safeguard the data. We encrypt at source; we anonymise data when we send it for verification; the database itself is encrypted; we have layers and layers of security. In fact, as far as biometrics is concerned, once we have extracted the minutiae, we put it offline.   Read more of this post

Twitter’s shady accounting: Why is Twitter using the same accounting tricks that have been criticized so many times before?

Twitter’s shady accounting

By Stephen Gandel, senior editor October 8, 2013: 5:00 AM ET

Why is Twitter using the same accounting tricks that have been criticized so many times before?

FORTUNE — When it comes to its bottom line, Twitter would like potential investors to put on some heavily tinted rose-colored glasses. In the registration statement for its upcoming IPO, which was filed on Thursday, Twitter said through the “eyes of management” the company had a profit of just over $21 million in the first six months of the year. That’s probably how Twitter’s execs would like potential investors to see it. Through an accountant’s eyes, though, Twitter actually lost just over $69 million. Read more of this post

Microsoft’s $7.2 Billion Nokia Bet Not Luring Apps

Microsoft’s $7.2 Billion Nokia Bet Not Luring Apps

Microsoft Corp. (MSFT)’s $7.2 billion pairing with Nokia Oyj (NOK)’s handset business is failing to win over the software developers who are crucial to its success. Consider Tommy Palm and Jeff Smith. Palm, who oversees development at smartphone-game maker King.com, and Smith, who runs music-application maker Smule Inc., have long avoided building apps for devices using Microsoft’s Windows Phone software. Closer ties with Nokia haven’t swayed them. Both say even after the acquisition closes, Microsoft still won’t have enough users to make it worth the time and money. Read more of this post

In Digital Era, What Does ‘Watching TV’ Even Mean? Study Suggests More Time Spent on Smartphones, Computers, Tablets Than Television

October 8, 2013, 9:43 p.m. ET

In Digital Era, What Does ‘Watching TV’ Even Mean?

Study Suggests More Time Spent on Smartphones, Computers, Tablets Than Television

KATHERINE ROSMAN

We spend a full five hours and 16 minutes a day in front of a screen, and that’s without even turning on a television. So says a statistic from eMarketer, a research firm that focuses on digital media and marketing. It says that for the first time we are devoting more attention each day to smartphones, computers and tablets. All of which points to a big question: What counts as TV-watching today? Read more of this post

How San Francisco’s new entrepreneurial culture is changing the country

How San Francisco’s new entrepreneurial culture is changing the country.

by Nathan HellerOCTOBER 14, 2013

Collectives like the Sub bring together the arts, “mindful living,” and tech startups. “When you’re trying to make a name for yourself as a seed investor,” Johnny Hwin says, “the name of the game is differentiation.” Photograph by Pari Dukovic.

The way to meet up with Johnny Hwin, one of the best-connected kids in San Francisco, is to stand at the garage door of a small repair shop in the iffy section of the Mission District and dial his cell phone until it stops ringing into voice mail and the call goes through. This takes a while, sometimes, because Hwin silences his phone and forgets about it. In the meantime, there’s a lot going on at the corner—commuters edging by with messenger bags, shirtless men in dire straits wandering past. After half an hour, maybe a lot sooner, Hwin will call you back and tell you to stay right where you are, because he’s just leaving his place. It’s unclear from which direction he is coming, or how far, and so you might meander toward a nearby mural, called “Diversity in Progress” (it depicts a blooming tree beside a guy in a sombrero), or perhaps toward a pentagon-shaped house squatting among Victorians like the lost piece of a Lego set. At this point, Hwin will call again to say that he cannot see you. When you finally fall into his sight line, you might get a high five and a low-key welcome (“Hey, man”) before being shuttled through a gate and up a dingy flight of stairs illuminated by a snarl of Christmas lights. This is an art-and-tech collective called the Sub, where Hwin has been since 2009. Today, it’s part of a network of places where the new mode of American success is being borne out. Read more of this post

MediaTek chips to be used by Samsung, goes from local knockoffs to global juggernauts in under a year

MediaTek chips to be used by Samsung, goes from local knockoffs to global juggernauts in under a year

October 7, 2013

by Paul Bischoff

Rumors surfaced a couple days ago that Samsung will use Taiwan-based MediaTek processors in its entry level and mid-range lines of smartphones. Previously, Broadcom supplied Samsung’s lower-end processors, but MediaTek’s cheaper and faster chipsets might prove too enticing. They won’t be replacing Qualcomm’s Snapdragon or Nvidia’s Tegra anytime soon, but a potential client in Samsung would be a huge landmark for MediaTek (TPE:2454). Read more of this post

Old dog learns new tricks: CyberLink moves into the mobile market

Old dog learns new tricks: CyberLink moves into the mobile market

BY CARMEL DEAMICIS 
ON OCTOBER 8, 2013

The other day I met with the rarest of technology companies, a PC-only software called CyberLink. Once upon a time, CyberLink dominated. It was the default DVD software in all PCs, and its logo could be recognized the world over. But then, Apple found its second life. Macs made a comeback, and PC users began dropping like flies, reborn as Apple fanboys. Or so it seems in Silicon Valley. But the truth is, in the rest of the world PC numbers are still substantial. There were 353 million PCs sold worldwide in 2012, compared to  18.1 million Macs. And with each of those PCs comes a CyberLink PowerDVD player. For those CyberLink users out there, the company is trying to make itself flexible and relevant. Today it announced PowerDVD Live, a way of storing videos in the cloud and then accessing them on Windows/Android/iOS mobile. That’s right. CyberLink is biting the bullet and making itself compatible with Apple products. Read more of this post

Taiwan Warns That China Could Mount Successful Invasion by 2020

Taiwan Warns That China Could Mount Successful Invasion by 2020

By Debra Mao and Argin Chang – Oct 8, 2013

China may be able to successfully invade Taiwan by 2020 as it develops technology to prevent allies such as the U.S. from coming to the island’s aid, the Taiwanese defense ministry said. A military modernization campaign has seen China’s People’s Liberation Army enhance its ability to make long-range precision strikes and develop so-called area-denial technology, the ministry said in its 2013 National Defense Report. Read more of this post

Taiwan saw a 30-percent drop in Chinese tour group travelers in the first week of October — a long holiday in mainland China — compared to the same period last year due to a new law restricting low cost tours

Fewer Chinese tours to Taiwan after new law

CNA
October 9, 2013, 12:07 am TWN

TAIPEI — Taiwan saw a 30-percent drop in Chinese tour group travelers in the first week of October — a long holiday in mainland China — compared to the same period last year, a phenomenon the Tourism Bureau attributed yesterday to a new law restricting low cost tours. Only 19,698 Chinese visitors entered Taiwan between the holiday break of Oct. 1-7 due to mainland China’s new Tourism Law, which bans operators from offering low-priced or free tours and making up the profits through additional charges or commissions from particular shops, Taiwan’s Tourism Bureau said. Read more of this post

Thailand’s one tablet per child program rocked by claims of 30% broken tablets

Thailand’s one tablet per child program rocked by claims of 30% broken tablets

October 8, 2013

by Saiyai Sakawee

One Tablet Per Child is a policy launched last year by the Thai government in an attempt to improve education and address issues of inequality. Basically, the government gives away tablets to first graders, hoping that being able to connect to the internet and work online together will help improve the quality of their education. However, an audit – as spotted by the Bangkok Post – claims that many of the tablets have flaws. The Office of the Auditor-General (OAG) says that about 30 percent of the 860,000 tablets distributed to students last year are reported as being broken or needing repair. Read more of this post

Millions of poor people during Brazil’s decadelong boom took out loans to speed their rise to the middle class. Now comes the less glamorous side of a consumer’s life: paying off debt

Updated October 8, 2013, 11:18 p.m. ET

Bill Comes Due for Brazil’s Middle Class

Debt Woes Help Explain Why the Country’s Once-Dazzling Growth Has Fizzled

LORETTA CHAO and JOHN LYONS

P1-BN457_BCREDI_NS_20131008181504 P1-BN458_BCREDI_G_20131008184207

SÃO PAULO, Brazil—Like millions of poor people during Brazil’s decadelong boom, Odete Meira da Silva took out loans to speed her rise to the middle class. The single mom bought a computer, a flat-screen TV and started building a concrete home on the rough southern edge of this sprawling city. Now, her spending spree is over. The 56-year-old small-business owner is today concerned with a less glamorous side of middle-class life: paying off debt. After her ballooning credit-card bills exceeded what she could afford, she cut back on everything and stopped home construction. On a recent day, a bare concrete staircase rose from her living room to an unfinished second floor. It is a reminder of her own halfway climb up Brazil’s economic ladder. Read more of this post

Brazil’s next major export: literature

Brazil’s next major export: literature

By Lily Kuo @lilkuo 9 hours ago

Troubled by high inflation and poor infrastructure, Brazil is looking to literature to boost its economy. Tomorrow, 70 Brazilian writers and over 100 publishers will descend on the world’s largest book fair when it opens in Frankfurt with Brazil as its guest of honor. There, they’ll promote the country’s literary wares in a 2,500 sq. meter pavilion (8,200 sq. feet.) via video installations and art. Read more of this post

Putting a Speed Limit on the Stock Market

October 8, 2013

Putting a Speed Limit on the Stock Market

By JACOB GOLDSTEIN

When Brad Katsuyama was running the U.S. trading desk for the Royal Bank of Canada, his clients would send in orders every day, but every day, when Katsuyama went to buy or sell, something would go wrong. When he wanted to buy, offers to sell shares would suddenly vanish, and the price of the stock would shoot up. When he wanted to sell, the same thing would happen in reverse. “I started to realize that, day in and day out, I was getting screwed,” Katsuyama told me recently. Read more of this post

Early setbacks fuel drive of Lopez family who owns the Philippines’ biggest television broadcaster and its largest private power distributor

September 22, 2013 12:55 pm

Early setbacks fuel Lopez family drive

By Roel Landingin

Lopez2 Lopez

Oscar Lopez, the younger brother of Eugenio ‘Geny’ Lopez Jr, serves as chairman emeritus of the publicly listed Lopez Holdings Corp. The 83-year-old’s group faces challenges as it seeks to diversify away from the core utilities business; Manuel Lopez, also a younger brother of ‘Geny’, is chairman of Lopez Holdings. The 71-year-old says the group is well-positioned for the inevitable generational shift, because it selects senior managers solely on merit. ‘I myself started at the bottom,’ he says. Eugenio ‘Gabby’ Lopez III, the son of ‘Geny’, is chairman of ABS-CBN Broadcasting. He holds an MBA from Harvard University and as vice-chairman of Lopez Holdings is next in line to run the overall group behind his uncle Manuel; President Ferdinand Marcos imprisoned ‘Geny’ in 1972 on a trumped-up murder charge in an effort to force the Lopez patriarch to give up control of Meralco. The electricity tycoon escaped from prison, however, and returned to the Philippines in 1986 after Marcos was overthrown and rebuilt the family empire.

Not many tycoons have had their life story turned into an action movie. Eugenio Lopez Jr, the late head of the family that owns the Philippines’ biggest television broadcaster and its largest private power distributor, is one of the few exceptions. “Geny”, as he was known, was imprisoned by Philippine president Ferdinand Marcos in 1972 when he was 44 years old on a trumped-up murder charge. The move was aimed at forcing his father to give up control of Manila Electric Co, then and still the country’s biggest electricity distributor. With another political prisoner, Geny staged a daring escape from an army detention facility in 1977, fleeing to a private airstrip outside Manila, where a waiting plane whisked them out of the country. Geny returned to the Philippines in 1986 shortly after Marcos was overthrown. Together with younger brothers Oscar and Manuel, he rebuilt the family’s business empire, large parts of which were taken over by the Marcos regime. His arrest and escape became the basis for a feature film released in 1995. The family patriarch Eugenio Lopez Sr was one of the Philippines’ most successful businessmen in the period after the second world war. Read more of this post

The best advice can come from anywhere; The trick is to decide which counsel is worth heeding and which is not

October 8, 2013 3:52 pm

The best advice can come from anywhere

By Luke Johnson

The trick is to decide which counsel is worth heeding and which is not

Ican never decide if the business advice industry is actually useful or packed with purveyors of overpriced claptrap. Part of my dilemma is that through articles such as this and my books and speeches, I am a very small part of the circus. Moreover, I am constantly paying for guidance from all sorts of experts – lawyers, accountants, IT specialists, insurance, property and suchlike. So surely I must believe in its value . . .

Of course its worth depends greatly on who is dishing out the words of wisdom. Decisive counsel from a brilliant mind is to be prized. But all too often, one would do better to follow JRR Tolkien’s words from The Hobbit: “Go not to the elves for advice, for they will say both yes and no.” Read more of this post

Time for tea in America: Arsen Avakian, co-founder of Argo, is on a mission to convert the coffee-drinking masses

October 8, 2013 3:56 pm

Time for tea in America

By Neil Munshi

©Pascal Perich

A new leaf: Arsen Avakian in an Argo teashop

At a table outside a café in Chicago’s Connors Park, Arsen Avakian is sipping cups of tea and providing a commentary on the different flavours like an oenophile at a vineyard. The manager of this branch of the Argo chain of tea shops Mr Avakian’s co-founded has just brought him a tray of samples – including Pumpkin Chai, Iced Maté Latté, White Tea Acai Squeeze and Hibiscus Apple Chiller. The entrepreneur has an effusive line for each. Mr Avakian says the Earl Grey Vanilla Crème is “Nilgiri black tea blended with bergamot orange peels to give you a very unique take on the traditional Earl Grey”. He also mentions some of the 14 countries from which Argo sources tea leaves for its 40-plus “signature drinks”. Read more of this post

Singapore Girl is facing a bumpy ride; Competition between low-cost carriers has driven down fares

October 8, 2013 5:25 pm

Singapore Girl is facing a bumpy ride

By Jeremy Grant

Competition between low-cost carriers has driven down fares

Singapore Girl is flying into turbulence.

For years the advertising icon of Singapore Airlines – a stewardess dressed in a sarong designed by a Parisian couturier – has projected an image of unimpeachable reliability and graceful Asian hospitality. That has helped to create one of the most recognisable and trusted brands in the global airline business. It has also helped to underpin one of its most financially successful. Singapore Airlines (SIA) has never in its 28 years as a listed company recorded a loss in any full financial year – a feat virtually unheard of in an industry that has bled red ink ever since commercial jet flight began in the 1950s. But the winds of change are blowing in the Asian airline industry as low-cost carriers such as AirAsia, owned by Malaysian entrepreneur Tony Fernandes, have steadily eaten away at the market share of established carriers such as SIA and Cathay Pacific. Read more of this post

Fidelity Billionaire Johnson Taps ETFs as Profits for Funds Fade

Fidelity Billionaire Johnson Taps ETFs as Profits for Funds Fade

When Abigail Johnson began her apprenticeship at Fidelity Investments 25 years ago, the Boston-based firm founded by her grandfather was the nation’s biggest mutual-fund company and star manager Peter Lynch was enjoying a performance streak at the Magellan Fund — a 29 percent average return over 13 years — that ranks among the best in the industry’s history. A year ago, Johnson, now 51, was named president of a very different Fidelity. Under her father, Edward C. Johnson III, known as Ned, Fidelity has surrendered its leadership and much of its iconic status as a money manager, Bloomberg Markets magazine will report in its November issue. Fees for investing client money in its own funds now produce less than half of Fidelity’s revenue, and rivals BlackRock (BLK) Inc., Pacific Investment Management Co. and Vanguard Group Inc. have shot past Fidelity in assets managed in the course of the past five years. Read more of this post

Fab times: Taiwan’s TSMC thinks big in micro chip race

Fab times: Taiwan’s TSMC thinks big in micro chip race

5:10pm EDT

By Clare Jim

TAINAN, Taiwan (Reuters) – Top contract chip maker TSMC may have outsmarted rivals Samsung Electronics Co and Intel Corp in the race to build the tiniest and most powerful chips for smartphones and tablets by building big. As mobile devices get slimmer and demand increases for more data-processing and power-saving features, chip companies are trying to cram more power into tinier chips and are building futuristic factories, or fabs, to meet global demand. Read more of this post

Wang Yannan: Daughter of the revolution takes on China art market

October 8, 2013 8:17 am

Wang Yannan: Daughter of the revolution takes on China art market

By Demetri Sevastopulo in Hong Kong

When Wang Yannan was growing up during the Cultural Revolution in China, the daughter of former Chinese leader Zhao Ziyang never imagined that one day she would run the fourth-largest auction house in the world. Speaking in Hong Kong where China Guardian over the weekend sold HK$510m (US$66m) in Chinese art and ceramics, Ms Wang recalls how a family friend whose husband had been jailed struggled to destroy paintings to prevent more problems with the Red Guards.

Read more of this post

China sacks official over lavish, three-day wedding

China sacks official over lavish, three-day wedding

6:48am EDT

BEIJING (Reuters) – China sacked an official for “extravagant waste” after he spent an estimated 1.6 million yuan ($260,000) on a lavish, three-day wedding for his son, state media said on Tuesday, the latest move in a crackdown on profligate lifestyles and graft. Ma Linxiang, a deputy village chief from the Beijing suburb of Qingheying, hosted the estimated 250-table wedding at a convention center that was part of the main 2008 Beijing Olympics venue during the week-long National Day holiday last week, newspapers reported. Read more of this post

Chocolate Tempts India’s Sweet Tooth

October 8, 2013, 5:12 p.m. ET

Chocolate Tempts India’s Sweet Tooth

NEENA RAI And DEBIPRASAD NAYAK

When Deepti Ranjan was a child, a box of Cadbury’s candy-coated chocolate Gems or a caramel-chocolate 5-Star bar was a luxury. Now Ms. Ranjan, a 32-year-old software developer from Bangalore, is a chocoholic. She says she tries two or three chocolate varieties a month. Among her favorites are honey-sweet Swiss Toblerone and Cadbury’s Bournville, a dark-chocolate bar marketed with the tagline “You don’t buy a Bournville, you earn it.” “With my earnings,” says Ms. Ranjan, “I am discovering my secret passion.” India’s vast, growing middle class has the world’s chocolate purveyors on a sugar high. Rising demand in Asia is a important reason that cocoa futures have been the best-performing commodity so far this year—up 19%, even as other agricultural commodities have slumped. Read more of this post

The Strategy Behind China’s Aid Expansion; Between 2001 and 2011, China’s pledged foreign aid was $671 billion

October 8, 2013, 7:13 p.m. ET

The Strategy Behind China’s Aid Expansion

Between 2001 and 2011, China’s pledged foreign aid was $671 billion.

CHARLES WOLF JR.

In 2001, China spent roughly $1.7 billion on foreign aid. By 2011, the annual foreign-aid figure had risen to $189.3 billion. Part of the increase reflects the growth in China’s economy. But this is an increase with a purpose, and China’s foreign-aid programs are as different from aid programs conducted by the U.S. and other Organization for Economic Cooperation and Development countries as East is from West. Read more of this post

Lululemon’s next challenge: overseas growth

Lululemon’s next challenge: overseas growth

5:25pm EDT

By Solarina Ho

TORONTO (Reuters) – In a narrow, bustling street in Hong Kong’s trendy Soho district, a small Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) test boutique is helping to lay the groundwork for what the premium yogawear maker sees as a promising avenue for growth. The Canadian retailer is casting an eye on international markets even as it grapples with the demands of finding a new chief executive, mending a tarnished image after an embarrassing recall of overly sheer pants and pursuing expansion in the United States. It’s a tricky move even in the best of times. While the rewards are alluring, such global markets can be fickle, complicated and risky. Read more of this post

Take HP’s slide personally, CEO Whitman tells 300,000-plus employees after removal from Dow Jones

Take HP’s slide personally, CEO Whitman tells employees

3:18pm EDT

By Poornima Gupta

SAN FRANCISCO (Reuters) – When Hewlett-Packard Co was removed from the Dow Jones Industrial Average a month ago, Chief Executive Officer Meg Whitman sent an impassioned email to the company’s 300,000-plus employees. “I hope that every HP employee took today’s announcement personally,” she said in the one-page internal memo on September 10. Read more of this post

Microsoft Discounts Cloud Services Challenging Amazon

Microsoft Offers Discounts Amid Ramp-Up of Cloud Service

Microsoft Corp. (MSFT)’s cloud and enterprise chief Satya Nadella, who has been named as a possible replacement for retiring Chief Executive Officer Steve Ballmer, today unveiled a price cut for some customers seeking Internet-based cloud services. Starting Nov. 1, Microsoft will offer discounted rates for its Windows Azure cloud service, as well as annual payment plans for customers who sign up for multiyear agreements called Enterprise Agreements, Nadella said at an event in San Francisco. He also introduced a version of Azure for U.S. government customers, which will store data in the U.S. and be managed by Americans to meet government-security requirements. Read more of this post

The authors of equity research have begun to take a leaf out of Amazon’s book by are analysing how their clients read and use their offerings, in order to sell them additional targeted products

October 8, 2013 6:10 pm

Banks take Amazon approach to research

By Vanessa Kortekaas

The authors of equity research have begun to take a leaf out of Amazon’s book. Stockbrokers and banks – which write reports on listed companies for investment managers, with buy or sell recommendations on their shares – are analysing how their clients read and use their offerings, in order to sell them additional targeted products. Their aim is to replicate the success that Amazon has in mining its wealth of purchasing data, in order to recommend products to clients based on what they, and their like-minded peers, previously bought. “Investment bank research departments are starting to have to treat fund managers as proper customers, just like retailers do,” says Neil Shah, director at Edison Investment Research, an independent research house. Read more of this post

Candy Crush maker shows how to hook gamers, make them pay

Candy Crush maker shows how to hook gamers, make them pay

STOCKHOLM — With 100 million people logging on every day for a fix of its games like Candy Crush Saga, global game maker King is showing rivals not just how to hook players but how to get them to pay.

REUTERS 4 HOURS 33 MIN AGO

STOCKHOLM — With 100 million people logging on every day for a fix of its games like Candy Crush Saga, global game maker King is showing rivals not just how to hook players but how to get them to pay. King is the latest among European tech firms like Rovio, creator of mega-hit Angry Birds, to make it big on the global gaming scene. But its stunning profitability in an industry littered with firms who failed to make money has made it a totem for others seeking to emulate its success. Read more of this post