Tag Archives: Asia

Thousands protest in Japan against new state secrets bill

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“Thousands of people protested in Tokyo against a bill that would see whistleblowing civil servants jailed for up to 10 years. Activists claim the law would help the government to cover up scandals, and damage the country’s constitution and democracy.  About 10,000 people crowded shoulder-to-shoulder, holding banners that read: ‘Don’t take away our freedom.’ Currently, long prison terms only apply to those Japanese who leak classified data from the US military.  PM Shinzo Abe says that the new legislature is extremely important to secure cooperation with Japan’s major ally, the US, as well as other countries.  The data security bill resembles laws targeting whistleblowers in the US.”

http://rt.com/news/japan-secrets-bill-protests-133/

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Taiwan central bank ‘keeping close tabs’ on Bitcoin

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“The head of Taiwan’s central bank said Wednesday that the bank is keeping close tabs on the development of Bitcoin, a decentralized virtual currency that approximates cash on the internet.  ‘We have taken note of the development of Bitcoin and have adopted measures to prevent money laundering through its trading,’ said Perng Fai-nan, the governor of the Central Bank.  Ruling Kuomintang Legislator Lu Shiow-yen asked Perng about his view of the bitcoins, which she said are being traded at an exchange rate of 1 to US$590, the highest valued currency in the world.  In response, Perng said Bitcoin is a new kind of money circulating among a specific group of people.”

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20131120000120&cid=1102

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India: $1.2 million in gold bars found stashed in Boeing 737 bathroom

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“A hidden stash of gold bars worth $1.2 million was found in a commercial jet’s bathroom on Tuesday.  An aircraft maintenance crew found the 24 gold bars in two bags aboard a Jet Airways Boeing 737 while they performed routine end-of-day checks at Kolkata, India, airport.  The bars weigh 53 pounds in total and appeared to have originated in the United Arab Emirates. While this is the first time gold bars have been found on a plane at the airport, security checks have in the past caught people trying to smuggle gold onto aircraft in their hand luggage, the airport director said.  India has traditionally been the world’s largest importer of gold, although that title is being threatened this year by China.”

http://worldnews.nbcnews.com/_news/2013/11/20/21545372-12-million-in-gold-bars-found-stashed-in-boeing-737s-bathroom

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Mongolia’s new law expected to attract Chinese billions

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“In October, Mongolia’s parliament approved an investment law that ended different rules for domestic and foreign private investors, and lessened government approval requirements.  The law will take effect on January 1. ‘The new law will spur more Chinese investment in Mongolia,’ said Alisher Ali, managing partner of Silk Road Management, an investment firm focusing on frontier markets. The previous investment law, enacted last year, had a negative impact on Mongolian companies, including those listed in Hong Kong, as it led to uncertainty over foreign ownership of Mongolian assets, Ali said.  The new investment law repealed large chunks of the one in 2012, Ali said.”

http://www.scmp.com/business/china-business/article/1360736/mongolias-new-law-expected-attract-chinese-billions

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Tea growers explore bitcoin option to expand global biz

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“Small and specialised tea growers are working with a U.S-based online tea marketplace to explore the option of using digital currency bitcoin as a means of avoiding heavy banking fees and to expand international business.  Hawaii-based Tealet facilitates tea purchases between small tea farmers and the beverage’s global connoisseurs, a form of online direct selling, and has signed up a number of independent tea growers in Assam, West Bengal and Bihar. For smaller tea growers, this direct selling process cuts out the middle-man, thus, providing better profit margins. According to Lochan Tea, which exports around 2.5 million kg of tea a year, the Tealet process can deliver up to 100% more profit.”

http://www.thehindu.com/business/Industry/tea-growers-explore-bitcoin-option-to-expand-global-biz/article5368579.ece

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Hakim Mamoni of DealCoin at the Singapore Bitcoin Conference 2013

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“David Moskowitz talks with Hakim Mamoni of DealCoin, a person to person Bitcoin to Cash platform.”

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Meet “Bitcoin Jesus” Roger Ver, the millionaire who distributes free Bitcoins

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“While in college in 1999, he founded MemoryDealers.com, a site that sells discounted computer parts. Clients past and present include HP, Cisco and Vodafone. He’s a self-confessed ‘voluntaryist’ who believes that the government should have no control over your money. In 2000, he ran for California State Assembly as a Libertarian and came under fire for calling the ATF bureau a ‘bunch of murderers’. He then served 10 months in federal prison for selling firecrackers used by farmers to scare deer and birds away from their cornfields. However, he believes he was made a target because of his comments on the ATF. He moved to Tokyo after his federal probation ended.”

http://www.londonlovesbusiness.com/business-news/tech/meet-bitcoin-jesus-roger-ver-the-millionaire-who-distributes-free-bitcoins/5951.article

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China lifts curtain on landmark reform agenda

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“Beijing’s plan calls for opening its financial markets and promoting greater foreign investment. The document also hints at changes in how companies file for stock market listings, the introduction of a bank deposit insurance scheme and an acceleration of interest rate liberalization. The roadmap seeks to roll back government control of state-owned enterprises and allow for greater competition with private firms and reform the country’s hukou system, which affects everything from employment to social benefits. Other initiatives tackle China’s pollution problem, promote social security programs, and call for a relaxation of the one-child policy.  The plan also seeks to abolish labor camps.”

http://money.cnn.com/2013/11/18/news/economy/china-reform/

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Online Gambling Stocks: Will the US Cash In?

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“It’s not hard to see the potential growth in combining bookies with social networking, as geographically isolated fans will soon be able to bet on their favorite sports against users from across the world.  Online gambling is estimated to raise over $400 million for New Jersey alone in its first year, a cash-cow that other states will find difficult to ignore. New laws are already being introduced in California and Mississippi. The question of whether online gambling will take off is not a matter of ‘if’ but simply ‘when?’ And an even more fascinating question arises – who will get the biggest slice of the pie, the companies with the biggest names, the most social media customers, or the best hardware?”

http://wire.kapitall.com/investment-idea/online-gambling-stocks-will-the-us-cash-in/

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North Korea Reportedly Opening To Foreign Investment

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“Cash-starved North Korea is making more noises about attracting foreign investment.  Pyongyang plans to build more special economic zones that will allow foreign currency and different economic rules designed to bring in foreign capital.  A new ‘non-governmental’ organization dedicated to assisting foreign investment held a conference on the zones with experts from countries including the U.S., Canada, India, Hong Kong and Malaysia. Earlier this year North Korea said it wanted ‘foreign trade [to] be made multilateral and diversified and investment be widely introduced.’ North Korea says it has introduced new laws to protect foreign investors.”

http://blogs.wsj.com/korearealtime/2013/10/18/north-korea-pushes-foreign-investment-story/

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