Tag Archives: Asia

Fukushima appears to be leaking highly radioactive wastewater into ocean

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“Members of the Nuclear Regulation Authority voiced frustration at Tokyo Electric Power (TEPCO), which has failed to identify the source and the cause of spiking readings of radioactive materials in groundwater. ‘It is strongly suspected that highly concentrated contaminated waste water has leaked to the ground and has spread to the sea,’ the authority said. The giant utility that services Tokyo and its surrounding regions has said groundwater samples taken at the battered Fukushima Daiichi plant on Tuesday showed levels of possibly cancer-causing caesium-134 were more than 110 times higher than they were on Friday.”

http://www.bangkokpost.com/news/asia/359262/japan-atomic-watchdog-suspects-fukushima-ocean-leak

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US – Sri Lankans “Asked” to Register with their Banks — What if they don’t do so voluntarily?

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“This newspaper notice was placed in a Sri Lankan newspaper last month by the Sri Lanka Banker’s Association, requesting the voluntary ‘registration’ of U.S. Persons with their banks to facilitate the identification of U.S. Persons under FATCA. The voluntary registration was, apparently, not required by the Sri Lanka Central Bank, and Sri Lanka has not (yet) publicly signed an IGA or waived Sri Lankan banking secrecy to allow banks to directly enter into agreements with the IRS. Certainly, the notice for voluntarily registering oneself harkens back to 1939 for some of us, and exemplifies the positive discrimination that FATCA requires.”

http://isaacbrocksociety.ca/2013/07/07/us-sri-lankans-asked-to-register-with-their-banks-what-if-they-dont-do-so-voluntarily/

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India Central Bank Restricts Lending Against Gold Assets By Rural Banks

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“The Reserve Bank of India’s, or RBI, offensive against gold continued Tuesday when it imposed restrictions on the country’s regional rural banks, or RRBs, for lending money against gold, in an attempt to discourage demand for the precious metal and reduce its imports. ‘It is advised that while granting advance against the security of specially minted gold coins sold by banks, RRBs should ensure that the weight of the coin(s) does not exceed 50 grams per customer,’ RBI said in a statement.  The RBI, in recent months, has been hard at work trying to contain the appetite for gold, which is an integral part of India’s culture, lifestyle and festivals.”

http://www.ibtimes.com/indias-rbi-restricts-lending-against-gold-gold-linked-etfs-mutual-funds-rural-banks-curb-heavy

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Welcome to the slum of India (BBC Documentary)

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Welcome to the slum of India (BBC Documentary)

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Clean bills or bust in Myanmar

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“When traveling in Myanmar, the last thing you want to put in your money pouch is your actual money. Across the country, the slightest tear, stain, corner crease or any imperfection will render a United States dollar-denominated bill unacceptable.  The practice can be a special source of anxiety for travelers who have flocked to Myanmar since the country’s recent political reform and opening to the wider world. Only in the past year or so has Myanmar’s tourism economy matured beyond anything other than cash. With no access to overseas banks, a traveler who accidentally sat on their wallet and creased all the bills within had little recourse.”

http://www.atimes.com/atimes/Southeast_Asia/SEA-01-030713.html

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Jim Rogers: Gold Could Fall To $900, India To Blame For Correction

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“What caused it to finally go down, and as much as I love India and Indians, they are the largest buyers of gold in the world. And India has a huge balance of trade deficit. The largest drivers are oil and gold. You can’t do anything about oil so the Indian politicians are blaming their problems on gold. And they’ve taken many measures, and more measures are coming to diminish or even eliminate the import of gold.  That was the main catalyst or the straw which broke the camel’s back which made gold start going down finally, after 12 years of going up.  So you have a lot of governments coming together with measures against gold and silver, but especially the Indians.”

http://www.businessinsider.com/jim-rogers-gold-complicated-bottoming-900-1200-2013-7

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Credit card transactions for gold purchases curtailed in India

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mineweblogo4

“Buying gold in India has got a little more difficult for consumers used to using plastic money to buy large jewellery sets or heavy gold ornaments. India’s apex bank has asked banks not to convert gold purchases done through credit cards into equated monthly installments. Continuing its fight against gold consumption, the Reserve Bank of India is leaving no stone unturned to discourage gold buyers in India. The ban on conversion of gold purchases at jewellery stores into equated monthly instalments for credit card purchases has already triggered a slump in sales.”

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=196913&sn=Detail

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Top Ten Cities With the Most Multi-Millionaires

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“London is the home to more multimillionaires, 4,296, than anywhere else in the world, but is facing tough competition from Hong Kong, 2,560, and Singapore, 3,154, to keep that title, according to a new study, writes MarketWatch.  The WealthInsight Intelligence Center Database, which tracks wealth and liquidity events, found Singapore and Hong Kong have the fastest growth rate for multimillionaires and could overtake London by 2020 if the trend continues.   The report defines a multimillionaire as someone with $30 million or more.”

http://www.economicpolicyjournal.com/2013/07/top-ten-cities-with-most-multi.html

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More countries use Chinese yuan to settle international payments

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“Of the 160 countries that settled payments with Hong Kong and the mainland last month, 47 had at least 10 per cent of their transfers made out in the yuan, according to SWIFT, a global member-owned co-operative servicing financial institutions. The number of countries ‘crossing the RMB river’, or having at least 10 per cent of payments valued in the yuan, grew 9 per cent in the nine months to April this year, SWIFT said in a report yesterday.  Italy and Russia are among the major adopters of the yuan. Other places where the currency is increasingly popular for payments include Britain and Singapore, the organisation said.”

http://www.scmp.com/business/banking-finance/article/1243760/more-countries-use-yuan-settle-international-payments

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