Tag Archives: Asia

Where Li “Superman” Ka-Shing is Investing Right Now

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“The person I’m referring to is Li Ka-Shing, Asia’s richest man and the world’s eighth wealthiest, with a net worth near US$31 billion.  Over the last couple of months, he’s been busy selling some of his assets to raise cash to put to work in Europe.  Ka-Shing is in the midst of a telecom buying spree. Since 2011, he has already purchased four European telecom companies for a total of US$4 billion. And he’s looking to do more. About a month ago, I told you Warren Buffett was also investing heavily in Europe. It seems the savviest investors and businessmen in the world are taking advantage of the bargains in Europe. You should be doing the same.”

http://thesovereigninvestor.com/2013/10/16/superman-investing-right-now/

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‘Gangnam Style’ cops will help tourists settle disputes in South Korea

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“South Korea unveiled its new ‘tourist police’ force Wednesday, with snappy uniforms from rapper Psy’s costume designer and a ‘Gangnam Style’ launch in central Seoul. Around 100 young policemen and women make up the first batch of the new force — formed to protect tourists from being ripped off during their stay in the South Korean capital. The officers were handpicked for their linguistic skills, and can speak a range of languages including English, Japanese and Mandarin. ‘Those who think they were overcharged by taxi drivers or street food vendors can come and talk to us. We will help settle the problem,’ English-speaking recruit Park Jae-Hyoung told AFP.”

http://www.rawstory.com/rs/2013/10/16/gangam-style-cops-will-help-tourists-settle-disputes-while-visiting-south-korea/

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Pilot puts aviation career on hold to work on Bitcoin startup

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“Sammel Nigel, a Singaporean pilot and data privacy advocate, is the founder of Find Your Bitcoin Sweden (FYB-SE), the European base of a Bitcoin trading platform founded and located in Singapore. It serves the Nordic nations of Northern Europe.  He has a diverse professional background: after graduating with a computer science diploma from a local polytechnic, he went on to become a fitness trainer before transferring over to the aviation sector as a pilot.  At the beginning of 2013, he put his flying career on hold to take his Bitcoin preoccupation full-time.”

http://www.techinasia.com/pilot-puts-aviation-career-hold-work-bitcoin-startup/

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Tiny Malaysian Island Quietly Becomes A Favorite New Global Tax Haven

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“There is oil here — lots of it — in the Brunei Gulf, the sultanate considered to be one of the world’s richest states. Labuan is also a member of the despised family of tax havens that the OECD is trying to bridle.  It all began in 2010, when the Malaysian government decided to attract capital from rich Muslim countries so that it could develop a sort of Islamic finance industry. But capital influx has given way to legal shelters and discretion. ‘We have made changes to our legislation and allow, since 2010, the creation of trusts and foundations specially designed for high-net-worth individuals,’ says Normala Mat Som, a 30-year-old lawyer.”

http://www.worldcrunch.com/business-finance/a-tiny-malaysian-island-has-quietly-become-a-favorite-new-global-tax-haven/malaysia-labuan-taxes-fsa-oecd-haven/c2s13334/

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Might India Confiscate the Gold of the Temples?

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“If the financial woes of the Government worsen, as seems likely, the temptation will increase for them to tap into Temple resources at some point. Who the actual owners of the resources may be, is likely to become more blurred along the way.  We are heading into a confiscatory era—a time when banks and governments reserve the right to go beyond the old method of taxation and to actually pillage the purse of the public. This has begun with bank accounts and pension funds in some countries, and, as the concept becomes a trend, it will take on many forms. Confiscation of temple, church, or synagogue funds may therefore soon be on the table in a variety of countries.”

https://www.internationalman.com/78-global-perspectives/1017-might-india-confiscate-the-gold-of-the-temples

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Jumping Chinese gold imports on pace to 1,000 tonnes

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“China has imported through Hong Kong 129 tonnes of physical gold in July, from the 113 tonnes it imported in June.  This is the second highest import level on record in a month and a year-over-year increase from 76 tonnes in July 2012. The July imports are also over and above the 518 tonnes of gold imports the nation already brought in the first six months of 2013, according to available data.  The country continues to buy at record levels, importing on an average, over 100 tonnes of gold every month for the last five months. The largest gold ETF in the US holds 919 tonnes of physical gold, and China has imported over two thirds that amount in just seven months.”

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=204726&sn=Detail

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Tealet ruffles feathers with expletive-filled bitcoin announcement

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“In its first week accepting the popular cryptocurrency, Petersen revealed Tealet has doubled its sales, and even generated buzz in a previously untapped market – the Philippines.  Founded in 2012, Tealet facilitates tea purchases between small tea farmers and the beverage’s global connoisseurs, many of whom wouldn’t otherwise be able or willing to pay growers directly in their native currency.  Today, the company aspires to become a $20m-a-year business. And even after the ups and downs of its opening trial, Petersen says she sees the alternative coin movement becoming an essential part of its business strategy.”

http://www.coindesk.com/tealet-ruffles-feathers-expletive-filled-bitcoin-announcement/

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Surging Bitcoin Downloads in India

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“Fears that the Federal Reserve will scale back its easy-money policies sent India’s rupee tumbling to record lows against the U.S. dollar this summer. And more recently, Moody’s warned that when the Fed does actually begin tapering its $85 billion in monthly bond purchases, countries with large current-account balances, like India and Brazil, will see even greater capital outflows. The outflows, in turn, will put their currencies and debt ratings further under pressure. In 2013 so far, India’s current-account deficit has grown to a record 4.9% of GDP. That loss of confidence in the rupee has translated into an opportunity for bitcoin.”

http://blogs.wsj.com/moneybeat/2013/10/10/one-result-of-the-feds-tapering-plan-surging-bitcoin-downloads-in-india/

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Bitcoin: freeing coffee from the middlemen

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“From among the jungles and rice paddies of central Bali, Indonesia, a website popped up last week selling freshly roasted coffee beans from local producers. Technology and travelers have made direct-from-source coffee popular for a while now, but this operation has a unique point: it will trade beans only for bitcoin.  The business is The Roast Station Project and leading it is JB Allen, aka the ‘Java Nomad’.  Allen is one of a growing number of laptop-powered entrepreneurs to make a home, or at least a string of temporary bases, in Southeast Asia. In 2010s parlance, they’re digital nomads, Lifestyle Businesspeople, Tropical MBAs or just location-independent CEOs.”

http://www.coindesk.com/bitcoin-can-free-coffee-from-the-middlemen/

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Bitcoin billionaires

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“Since graduating in mechanical engineering this June, Sanket Shah hasn’t bothered hunting for a job. But that hasn’t thrown a spanner in his lifestyle.  The secret to Sanket’s self-sustenance lies in Bitcoins.  The Reserve Bank of India has not yet formulated regulations to govern trading or profits generated from Bitcoins. An RBI spokesperson told Mirror over email that the RBI doesn’t consider Bitcoin legal tender and, therefore ‘trading in Bitcoin is not legal. Obviously, there cannot be regulations from RBI for an illegal activity. People who use it, do so at their own risk and responsibility.'”

http://www.mumbaimirror.com/others/sunday-read/Bitcoin-billionaires/articleshow/23236886.cms

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