Tag Archives: Asia

Diamond Jeweler Turns Alleged Smuggler as India Gold Prices Rise

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“In January, jeweler Vihari Sheth was publicizing a ritzy new line of diamond-encrusted designs. Last week, she was arrested at Mumbai airport with nearly $400,000 of gold jewelry in her underwear and on her person. The 27-year-old has a store in Singapore and is married to a director of Mumbai-based Siyaram Silk Mills Ltd (SIYA), a suit maker that is a household name in the country. Her arrest offers a glimpse into how even the wealthy may be joining small jewelers and organized gangs to skirt new government taxes on bullion imports that have made gold about 9 percent more expensive in Indian stores.”

http://www.bloomberg.com/news/2013-08-06/diamond-jeweler-turns-alleged-smuggler-as-india-gold-prices-rise.html

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Gold replaces narcotics as the most valued smuggled item in India

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“The Bombay Bullion Association has stated that the tighter import curbs by the government have resulted in a huge gap between supply and demand for the precious metal. This huge gap is being partly filled by the illegal traffickers who buy the gold overseas at a cheaper rate and sells it to domestic jewelers or bullion agents by evading tax. Revenue authorities seized gold worth Rs 598 million during April-June quarter this fiscal, an increase of nearly 365% in comparison with the same quarter last year. Smuggled gold pours into the country mainly from Dubai, Bangkok and Singapore.”

http://www.resourceinvestor.com/2013/08/07/gold-replaces-narcotics-as-the-most-valued-smuggle

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Tons of radioactive water pouring out of crippled Fukushima nuclear plant

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“Highly radioactive water from Japan’s crippled Fukushima nuclear plant is pouring out at a rate of 300 tons a day, officials said on Wednesday, as Prime Minister Shinzo Abe ordered the government to step in and help in the clean-up. Tepco only recently admitted water had leaked at all. The leak from the plant 220 km (130 miles) northeast of Tokyo is enough to fill an Olympic swimming pool in a week. The water is spilling into the Pacific Ocean, but it was not immediately clear how much of a threat it poses. As early as January this year, Tepco found fish contaminated with high levels of radiation inside a port at the plant.”

http://www.rawstory.com/rs/2013/08/07/tons-of-radioactive-water-pouring-out-of-crippled-fukushima-nuclear-plant/

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A Central Banker with Austrian Instincts

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The-Circle-Bastiat-311

“Raghu Rajan is a very good neoclassical economist who has made important contributions to banking, finance, the theory of the firm, corporate governance, economic development, and other fields. He is also taking over as head of India’s central bank. Rajan is no Austrian, but he has a quasi-Austrian take on the financial crisis, and far greater appreciation for free markets in general than any of the key US or European policymakers. As I tweeted this morning, Rajan is about 1,000,000 times better than either Summers or Yellen. I’d gladly trade him for any US central banker.”

http://bastiat.mises.org/2013/08/a-central-banker-with-austrian-instincts/

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Turkish prime minister joins trial run through rail tunnel under Bosphorus

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“Turkey has successfully completed a trial run of a rail tunnel connecting Istanbul’s European and Asian sides, the first of several planned mega-projects in the country’s largest city. The 13.6km (8.5-mile) tunnel, including a 1.4km immersed tube – the deepest of its kind in the world at 56 metres – passes under the Bosphorus strait, the busy shipping channel linking the Marmara Sea to the Black Sea. A Japanese-Turkish consortium began constructing the tunnel in 2004, with funding coming from the Japan Bank for International Co-operation and the European Investment Bank.”

http://www.theguardian.com/world/2013/aug/05/turkish-rail-tunnel-bosphorus-erdogan

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Golden trail: Dubai to Chennai via Delhi

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“Directorate of Revenue Intelligence (DRI) sleuths on the trail of 16kg gold boarded the Delhi-Chennai Rajdhani Express when it neared the outskirts of the city and followed the smugglers all the way to city before seizing the contraband and arresting four people, including two Sri Lankans, on Friday. Investigators intercepted the train when it reached Gummidipoondi railway station and boarded it. They identified the smugglers and tailed them to a house at Kodambakkam where they delivered the consignment. This is the second major seizure since March when DRI caught a senior diplomat from the UAE for allegedly smuggling 37kg gold jewellery.”

http://articles.timesofindia.indiatimes.com/2013-08-05/chennai/41092081_1_gold-bars-dri-igi-airport

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Japan calls on U.S. to suspend military chopper operations in Okinawa

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“Japan’s prime minister on Tuesday called on the US military to suspend helicopter operations in the country’s southern Okinawa island chain after a fatal crash. An American HH-60 helicopter with four personnel on board crashed at the Camp Hansen Marine base on Monday. The base is located on Okinawa, which is home to tens of thousands of US military personnel, with the latest incident stoking renewed concerns among many residents about the vast American presence there.  Okinawans have mounted protests against both the US military and its deployment of the controversial Osprey aircraft on the island.”

http://www.rawstory.com/rs/2013/08/06/japan-calls-on-u-s-to-suspend-military-chopper-operations-in-okinawa/

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Christopher A Hartwell on Thailand and Bitcoin

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Christopher A Hartwell on Thailand and Bitcoin

“Head of Economic Research at the Institute for Emerging Market Studies (IEMS) Christopher Hartwell talking on Thailand banning the bitcoin.”

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Honda “Hands”

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Honda “Hands”

“Honda ‘Hands’ film celebrates the curiosity of Honda engineers, which has led to some of the most successful Honda innovations over the past 65 years.”

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Japan sends talking ‘companion’ robot to the International Space Station

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“When the Japanese astronaut Koichi Wakata arrives at the International Space Station in November, a companion will be waiting for him whose eyes will light up in recognition – literally. Kirobo, the world’s first talking humanoid space robot, has already taken off – in the nattiest red Wellingtons since Paddington Bear – and should arrive at the space station by 9 August to await Wakata’s arrival. It knows he is coming: it has been programmed to recognise his face, and greet him warmly in Japanese.”

http://www.rawstory.com/rs/2013/08/04/soon-heading-to-the-international-space-station-a-talking-companion-robot/

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