Tony Ching Siu-tung's moviemaking career started decades before CGI, but he has found new creativity with the advances of special effects in recent years.
You can see it in his latest film, 'The Sorcerer and the White Snake', which held its premiere at last month's Venice Film Festival and is now showing in China, Hong Kong and elsewhere.
Jet Li stars as a sorcerer roaming the world to rid it of evil spirits. One demon ─ a thousand-year-old white snake ─ falls in love with an unsuspecting mortal and transforms itself into a beautiful woman in order to experience human love, leading to a climactic battle against the sorcerer.
The snake, played by mainland actress Eva Huang, has the body of a woman and a tail that loops around trees and across the emerald landscape. 'The Sorcerer and the White Snake' is filled with other striking visual effects, such as an enchanted forest with talking animals, a village haunted by human-like bat demons and a threatening pagoda where evil spirits are held in captivity.
The film is based on a well-known Chinese fable that's been adapted numerous times over the years into movies, television and stage productions.
'We all have heard this story since we were very young,' says Mr. Ching, who turns 59 at the end of this month. 'This is a legend that is perfect for our type of production of action and special effects, mixed with a love story.'
With a budget of $30 million, the film is one of the costliest Chinese productions in recent years because of its heavy use of CGI, which Mr. Ching says was crucial to the film's dream-like nature. Its combination of special effects, martial arts, humor and melodrama is a mix that has served Mr. Ching well in his previous films, including his 1987 success 'A Chinese Ghost Story' and its two sequels. Like many Hong Kong directors, he now works extensively in mainland China as the film industry there grows.
Mr. Ching spoke with the Journal about mixing action with CGI, Hong Kong films and the next generation of Asian martial-arts stars.
As audiences in China become more sophisticated, how do you keep the martial-arts genre fresh?
You have to have a good story, big actors, good technology. You always have to come up with new ideas and do new things. I think it's interesting to blend Chinese martial arts with Western CGI in order to bring a new experience to China.
What's behind rising production costs in China?
Everything is getting more expensive ─ technicians, photographers, special effects ─ if you want the best level of quality. You can have it at less cost, but then you lose quality.
As the Hong Kong movie industry becomes further entwined with China, what makes a Hong Kong film unique?
It's about style, and I think it's also about growing up in Hong Kong ─ you want to do something very local. In 'The Sorcerer and the White Snake,' there are no borders and there's no specific locale. It's a traditional fairy tale.
Asia's biggest martial-arts stars ─ Jet Li, Jackie Chan, Donnie Yen ─ are well into middle age. Where will the new talent come from?
Obviously they have to come from China, because only in China do they have a chance to exercise kung fu. But beyond that you have to be an actor, so it's not such an easy thing.
Tuesday, October 18, 2011
Monday, July 4, 2011
Foreign culture: Americans in the eyes of morality
Do Americans have any morals?That's a good question.Many people insist that ideas about right and wrong are merely personal opinions.Some voices,though,are calling Americans back to traditional moral values.William J.Bennett,former U.S.Secretary of Education,edited The Book of Virtues in 1993to do just that.Bennett suggests that great moral stories can build character.The success of Bennett's book shows that many Americans still believe in moral values.But what are they?
To begin with,moral values in America are like those in any culture.In fact,many aspects of morality are universal.But the stories and traditions that teach them are unique to each culture.Not only that,but culture influences how people show these virtues.
One of the most basic moral values for Americans is honesty.The well-known legend about George Washington and the cherry tree teaches this value clearly.Little George cut down his father's favorite cherry tree while trying out his new hatchet.When his father asked him about it,George said,"I cannot tell a lie.I did it with my hatchet."Instead of punishment,George received praise for telling the truth.Sometimes American honesty-being open and direct-can offend people.But Americans still believe that "honesty is the best policy."
Another virtue Americans respect is perseverance.Remember Aesop's fable about the turtle and the rabbit that had a race?The rabbit thought he could win easily,so he took a nap.But the turtle finally won because he did not give up.Another story tells of a little train that had to climb a steep hill.The hill was so steep that the little train had a hard time trying to get over it.But the train just kept pulling,all the while saying,"I think I can,I think I can."At last,the train was over the top of the hill."I thought I could,I thought I could,"chugged the happy little train.
Compassion may be the queen of American virtues.The story of "The Good Samaritan"from the Bible describes a man who showed compassion.On his way to a certain city,a Samaritan man found a poor traveler lying on the road.The traveler had been beaten and robbed.The kind Samaritan,instead of just passing by,stopped to help this person in need.Compassion can even turn into a positive cycle.In fall 1992,people in Iowa sent truckloads of water to help Floridians hit by a hurricane.The next summer,during the Midwest flooding,Florida returned the favor.In less dramatic ways,millions of Americans are quietly passing along the kindnesses shown to them.
In no way can this brief description cover all the moral values honored by Americans.Courage,responsibility,loyalty,gratitude and many others could be discussed.In fact,Bennett's bestseller-over 800pages-highlights just 10virtues.Even Bennett admits that he has only scratched the surface.But no matter how long or short the list,moral values are invaluable.They are the foundation of American culture-and any culture.
To begin with,moral values in America are like those in any culture.In fact,many aspects of morality are universal.But the stories and traditions that teach them are unique to each culture.Not only that,but culture influences how people show these virtues.
One of the most basic moral values for Americans is honesty.The well-known legend about George Washington and the cherry tree teaches this value clearly.Little George cut down his father's favorite cherry tree while trying out his new hatchet.When his father asked him about it,George said,"I cannot tell a lie.I did it with my hatchet."Instead of punishment,George received praise for telling the truth.Sometimes American honesty-being open and direct-can offend people.But Americans still believe that "honesty is the best policy."
Another virtue Americans respect is perseverance.Remember Aesop's fable about the turtle and the rabbit that had a race?The rabbit thought he could win easily,so he took a nap.But the turtle finally won because he did not give up.Another story tells of a little train that had to climb a steep hill.The hill was so steep that the little train had a hard time trying to get over it.But the train just kept pulling,all the while saying,"I think I can,I think I can."At last,the train was over the top of the hill."I thought I could,I thought I could,"chugged the happy little train.
Compassion may be the queen of American virtues.The story of "The Good Samaritan"from the Bible describes a man who showed compassion.On his way to a certain city,a Samaritan man found a poor traveler lying on the road.The traveler had been beaten and robbed.The kind Samaritan,instead of just passing by,stopped to help this person in need.Compassion can even turn into a positive cycle.In fall 1992,people in Iowa sent truckloads of water to help Floridians hit by a hurricane.The next summer,during the Midwest flooding,Florida returned the favor.In less dramatic ways,millions of Americans are quietly passing along the kindnesses shown to them.
In no way can this brief description cover all the moral values honored by Americans.Courage,responsibility,loyalty,gratitude and many others could be discussed.In fact,Bennett's bestseller-over 800pages-highlights just 10virtues.Even Bennett admits that he has only scratched the surface.But no matter how long or short the list,moral values are invaluable.They are the foundation of American culture-and any culture.
Thursday, May 26, 2011
The IMF's Emerging Conflict
Europe is circling the wagons. Forced to select a new head of the International Monetary Fund during a debt crisis, European politicians have lined up behind French Finance Minister Christine Lagarde, who announced her candidacy Wednesday.
That solution makes sense in Brussels. Lagarde has been in the thick of talks over the sovereign-debt crisis and would be unlikely to surprise markets and politicians by taking the IMF in a new direction.
But insider status is no unequivocal plus. There are legitimate questions about why the new chief should be a European politician, given the continent is calling so heavily on IMF resources as it tries to hold the euro together.
Emerging markets are not giving in without a fight. Representatives of Brazil, Russia, India, China and South Africa the BRICS issued a joint statement calling the practice of automatically selecting a European managing director obsolete. The G-20 did, after all, commit to an open, transparent, merit-based process.
Mexico has fielded its central-bank governor as a candidate, and there are signs South Africa's former finance minister could enter the race. But the BRICS haven't so far rallied behind a single nominee.
The reality is that the BRICS are anything but a unified bloc. Unlike the euro zone, which is trying to hold itself together, the BRICS are competitors in export markets and have different views on key policy questions. Brazil and India, for example, have been among the most outspoken critics of China's exchange-rate regime.
Given the conflicting agendas, finding a common candidate is easier said than done. But even if they can't mount a credible campaign for the top job, making a fuss will open opportunities for side deals and concessions in other areas. China has hinted that emerging-market representation in the IMF's senior management, if not the managing director spot, might be acceptable.
The whole debate puts the U.S. in a difficult position. Rather than being able to let support coalesce around a European candidate, it may now have to pick sides potentially with implications for America's grip on the top job at the World Bank in the future, too.
But even if Lagarde, as seems likely, does emerge as leader at the end of June, developed nations need to tread carefully. Emerging economies have no interest in destabilizing Europe, given its importance as an export market. But distrust of the IMF in some countries still runs deep. China, for example, has long felt the fund was run by the West for the West. For three years until 2010, Beijing didn't even allow the IMF to release its annual report on the Chinese economy.
A new managing director's most pressing role will be to solve the euro-zone debt crisis. But equally vital for his or her tenure will be reshaping the organization to ensure emerging economies are fully engaged.
That solution makes sense in Brussels. Lagarde has been in the thick of talks over the sovereign-debt crisis and would be unlikely to surprise markets and politicians by taking the IMF in a new direction.
But insider status is no unequivocal plus. There are legitimate questions about why the new chief should be a European politician, given the continent is calling so heavily on IMF resources as it tries to hold the euro together.
Emerging markets are not giving in without a fight. Representatives of Brazil, Russia, India, China and South Africa the BRICS issued a joint statement calling the practice of automatically selecting a European managing director obsolete. The G-20 did, after all, commit to an open, transparent, merit-based process.
Mexico has fielded its central-bank governor as a candidate, and there are signs South Africa's former finance minister could enter the race. But the BRICS haven't so far rallied behind a single nominee.
The reality is that the BRICS are anything but a unified bloc. Unlike the euro zone, which is trying to hold itself together, the BRICS are competitors in export markets and have different views on key policy questions. Brazil and India, for example, have been among the most outspoken critics of China's exchange-rate regime.
Given the conflicting agendas, finding a common candidate is easier said than done. But even if they can't mount a credible campaign for the top job, making a fuss will open opportunities for side deals and concessions in other areas. China has hinted that emerging-market representation in the IMF's senior management, if not the managing director spot, might be acceptable.
The whole debate puts the U.S. in a difficult position. Rather than being able to let support coalesce around a European candidate, it may now have to pick sides potentially with implications for America's grip on the top job at the World Bank in the future, too.
But even if Lagarde, as seems likely, does emerge as leader at the end of June, developed nations need to tread carefully. Emerging economies have no interest in destabilizing Europe, given its importance as an export market. But distrust of the IMF in some countries still runs deep. China, for example, has long felt the fund was run by the West for the West. For three years until 2010, Beijing didn't even allow the IMF to release its annual report on the Chinese economy.
A new managing director's most pressing role will be to solve the euro-zone debt crisis. But equally vital for his or her tenure will be reshaping the organization to ensure emerging economies are fully engaged.
Monday, May 9, 2011
Don't Even Talk About Price Hikes in China
With increases in raw material and input costs, many consumer product companies have either announced price hikes or said they're a real possibility.Typically, consumers will groan at the prospect and simply tell companies what they think with their wallets.
For companies, those comments are usually made to prepare consumers, investors, and the media for changes, but not with the intention of causing a run on supplies. As WSJ's Beijing bureau reports, China's National Development and Reform Commission has fined Unilever $308,000 for comments it made in March about raising prices on detergent in order to counter rising raw material costs. Those comments, the Commission said, triggered a run on detergent as Chinese consumers tried to stock up before a price hike:
The NDRC said Unilever's announcement of planned price increases 'had intensified consumer expectations of price hikes' and 'seriously distorted market order.'
The commission also scolded Unilever for answering numerous requests from the Chinese media about its plans, causing 'panic buying' in some cities. Unilever's actions had violated China's pricing laws, the agency said, adding 'this has been clearly determined with solid evidence.'
The NDRC said it will 'louis vuitton diaper bag' punish any attempts by companies to collude on price increases. The NDRC statement didn't cite evidence of collusion in the Unilever case, however.
The penalties could have been worse for Unilever. The pricing agency noted that the maximum fine under pricing regulations is 3 million yuan and that severe violations could lead to a suspension of operations.
A 3 million yuan fine would have translated to roughly $460,000.
For companies, those comments are usually made to prepare consumers, investors, and the media for changes, but not with the intention of causing a run on supplies. As WSJ's Beijing bureau reports, China's National Development and Reform Commission has fined Unilever $308,000 for comments it made in March about raising prices on detergent in order to counter rising raw material costs. Those comments, the Commission said, triggered a run on detergent as Chinese consumers tried to stock up before a price hike:
The NDRC said Unilever's announcement of planned price increases 'had intensified consumer expectations of price hikes' and 'seriously distorted market order.'
The commission also scolded Unilever for answering numerous requests from the Chinese media about its plans, causing 'panic buying' in some cities. Unilever's actions had violated China's pricing laws, the agency said, adding 'this has been clearly determined with solid evidence.'
The NDRC said it will 'louis vuitton diaper bag' punish any attempts by companies to collude on price increases. The NDRC statement didn't cite evidence of collusion in the Unilever case, however.
The penalties could have been worse for Unilever. The pricing agency noted that the maximum fine under pricing regulations is 3 million yuan and that severe violations could lead to a suspension of operations.
A 3 million yuan fine would have translated to roughly $460,000.
Sunday, April 10, 2011
What Does Your Watch Say About You?
As an indicator of one's status or taste -- or lack thereof -- watches have become the new shorthand. Since the Great Watch Revolution of the 1980s, when mechanical timepieces returned in force as a backlash against cheap-and-nasty quartz, and when vintage watches started to appear in auctions in greater numbers, awareness of the wristwatch has acquired a new significance.
Previously, anything more obscure than a Timex or an Accurist was appreciated only by cognoscenti. Watches were far too small to be in-your-face indicators of serious wealth -- not like the Ferrari 212 Barchetta or Maserati 300S that a Porfirio Rubirosa or a Roberto Rossellini might have parked in front of Monaco's Hotel de Paris.
Take Rolex. While everyone now recognizes the name, back in the 1950s and 1960s the brand was known almost exclusively by the pilots and professional divers who actually needed the functions the watches offered. Today, watch literacy has soared and the hugely popular television series, Mad Men, even uses watches to trace the ascent of hero Don Draper. By Series Three, Draper is seen wearing a Rolex Explorer.
As for brands such as Patek Philippe, Audemars Piguet, Vacheron Constantin and even the ineffably famous and recognizable Cartier, they were only understood by aristocrats and the gentry. Yes, there were exceptions: Duke Ellington, Miles Davis, Gene Autry, Howard Hughes (allegedly) and other iconic celebs wore Patek Philippes. Marlon Brando and Che Guevara owned Rolexes, while Steve McQueen foreshadowed the modern watch fanatic with his Rolexes and TAG Heuers. Now, the red carpet at the Oscars is a watch-lover's orgy. But this is not to suggest that populism nor egalitarianism have overtaken the prestigious image such watches impart. What has changed is that now everyone from the cab driver to the doorman, to the dentist to the divorce lawyer -- especially the divorce lawyer -- knows the difference between fine timepieces and those sold to mere mortals.
As a result, one's choice of watch is as important as the quality of the handbag, the cut of one's suit, the appropriateness of a tie's pattern, the height of the heel. If such things matter, you might consider watches fitting both your personality and the occasion.
The Italians advise three timepieces at the very least: One that suits your occupation, a dress watch for sober, formal or evening wear, and a robust watch for sport or holiday. And as for finding a watch to suit your personality, or even the one you wish to project, read on. And if you are still in doubt, just buy a Rolex Air-King.
The Fashion Icon
Dior VIII (from GBP 3,050)
John Galliano's psychotic outbreak notwithstanding, Dior is on a roll, especially with its watches. It is part of a welcome trend wherein the fashion and jewelry houses making watches have decided to offer something worthy of an illustrious name, rather than put their logos on sub-par swill sold through shopping centre jewelry stores.
Of course, in fashion, the name is everything, and The Fashion Icon will have her own preferences: For Dior, you could also read Chanel, Chaumet, Cartier (the absolute perennial favourite), Graff, Harry Winston or another great label making serious timepieces. But Dior VIII, a family of watches with heavily faceted bracelets and bezels, available with or without diamonds, in two sizes (33mm and 38mm), and with automatic or quartz movements, offers something else dear to Fashion Icons: It's so new that it's tomorrow.
The Traveller
Vogard Timezoner (from GBP 3,500)
What distinguishes The Traveller's timekeeping needs from those whose forays abroad are less frequent? For one afflicted with wanderlust, nothing less than a 'world-timer' will suffice, for it allows The Traveller to know the time, at a glance, in any time zone on the planet. And while nearly every watch manufacturer produces a wristwatch able to show the time in two or more zones, Vogard makes nothing but world-timers.
Two features in particular make the Vogard so appealing. The first is the watch's patented method of changing the home or destination time so quickly and easily. The second is the option for ordering the watch with any of 24 cities or locations engraved on the bezel.
The Banker
Patek Philippe Calatrava (from £12,980)
Given the current public mood, the banker should err toward the style of his pre-1980s forebears: That of sobriety. Whereas once bankers and other executives in the financial sector were encouraged to 'power dress'. To do so today is inadvisable. Bankers now rate somewhere between al Qaeda and lawyers in the public eye. In these straitened times, The Banker must possess an air of discretion, of solidity, of dependability. To achieve this, there is one, and only one watch: The Patek Philippe Calatrava. In continuous production since 1932, born in the Depression, as it were, the Calatrava combines no-nonsense functionality with elegance. To the untrained eye, it is anonymous. To the individual who knows, it says that the wearer prefers Romanée-Conti to, well, anything else.
The Entrepreneur
Richard Mille RM038 (£380,000)
Unlike The Banker, The Entrepreneur has to inspire potential investors, and nothing suggests pending success like existing success. Better still, The Entrepreneur knows the value of a personal detail, such as a watch, for breaking the ice. Amongst the high-fliers in an exclusive bar in Tsim Sha Tsui, in the nose of the 747 or at the links at St. Andrews, a bold watch speaks volumes.
You don't need to know anything about watches to appreciate that a Richard Mille timepiece is something out of the ordinary.
This particular Richard Mille oozes high tech. It is a tourbillon made to withstand the shocks and abuses of The Entrepreneur's most important selling tool: A round of golf.
Developed for Bubba Watson, to wear on the links, the RM038 follows on from another Richard Mille watch subjected to cruel and inhuman punishment: Rafael Nadal wore one while winning Wimbledon.
The Bohemian
Van Cleef & Arpels (£77,500)
Inspiration? The free spirit with limitless imagination. Execution? A blend of techniques, including champlevé enamel and mother-of-pearl inlay, as mastered by one of the world's greatest jewelry houses. The 19th Century writings of Jules Verne, the father of science fiction, have stirred Van Cleef & Arpels to create a series of limited edition timepieces with dials illustrating four of his novels, but most notably, Five Weeks In A Balloon.
Bohos love whimsy. Is there any mode of transport more evocative of the so-called century of Bohemianism than a hot-air balloon?
At the dial's centre, the balloon rises slowly above Zanzibar. What better than its anchor and a seagull to act as retrograde hands for minutes and hours?
A white gold case, a Jaeger-LeCoultre 846 mechanical movement, severely limited production this is the watch of an individualist.
The Daredevil
Panerai Luminor Base Logo (£3,100)
As the name suggests, The Daredevil is fearless, probably to the point of absurdity. No challenge is too threatening, no risk too great. Hang gliding, surfing, off-roading, snowboarding think Tom Cruise rock climbing at the opening of Mission Impossible 2.
The watch to withstand all that has to be either incredibly cheap-and-cheerful (Casio sells millions of G-Shocks for good reason), or over-engineered and, well, scary.
Designed for the Italian Navy's underwater saboteurs in the 1930s, Panerai's Luminor re-surfaced to become THE cult diving watch of the 1990s and onward. Its patron saint? Sylvester Stallone, who wore them in a number of his more macho films. Not only that, but he gave one to Arnie, who featured it in Eraser. Go on: Try breaking one.
The Spy
Bremont Supermarine 500 (from £2,995)
Imaginative James Bond inspired watches with built-in lasers, homing devices, suspension cables, magnets and the like are, alas, pure fiction. And, as any real spy would not want to call attention to his or her presence, anything too large or too flashy would call attention to the wearer. Equally, a spy's watch must be dependable, functional, accurate to the second and able to serve a number of roles in difficult situations. So, if the Bremont Supermarine 500 is rugged enough for Bear Grylls, precise enough for chronometer certification, legible underwater, secure to 500m and resistant to magnetism, it should survive Messrs Bond, Bauer, Bourne and the like. And Bond himself would appreciate one other feature: It's British.
Previously, anything more obscure than a Timex or an Accurist was appreciated only by cognoscenti. Watches were far too small to be in-your-face indicators of serious wealth -- not like the Ferrari 212 Barchetta or Maserati 300S that a Porfirio Rubirosa or a Roberto Rossellini might have parked in front of Monaco's Hotel de Paris.
Take Rolex. While everyone now recognizes the name, back in the 1950s and 1960s the brand was known almost exclusively by the pilots and professional divers who actually needed the functions the watches offered. Today, watch literacy has soared and the hugely popular television series, Mad Men, even uses watches to trace the ascent of hero Don Draper. By Series Three, Draper is seen wearing a Rolex Explorer.
As for brands such as Patek Philippe, Audemars Piguet, Vacheron Constantin and even the ineffably famous and recognizable Cartier, they were only understood by aristocrats and the gentry. Yes, there were exceptions: Duke Ellington, Miles Davis, Gene Autry, Howard Hughes (allegedly) and other iconic celebs wore Patek Philippes. Marlon Brando and Che Guevara owned Rolexes, while Steve McQueen foreshadowed the modern watch fanatic with his Rolexes and TAG Heuers. Now, the red carpet at the Oscars is a watch-lover's orgy. But this is not to suggest that populism nor egalitarianism have overtaken the prestigious image such watches impart. What has changed is that now everyone from the cab driver to the doorman, to the dentist to the divorce lawyer -- especially the divorce lawyer -- knows the difference between fine timepieces and those sold to mere mortals.
As a result, one's choice of watch is as important as the quality of the handbag, the cut of one's suit, the appropriateness of a tie's pattern, the height of the heel. If such things matter, you might consider watches fitting both your personality and the occasion.
The Italians advise three timepieces at the very least: One that suits your occupation, a dress watch for sober, formal or evening wear, and a robust watch for sport or holiday. And as for finding a watch to suit your personality, or even the one you wish to project, read on. And if you are still in doubt, just buy a Rolex Air-King.
The Fashion Icon
Dior VIII (from GBP 3,050)
John Galliano's psychotic outbreak notwithstanding, Dior is on a roll, especially with its watches. It is part of a welcome trend wherein the fashion and jewelry houses making watches have decided to offer something worthy of an illustrious name, rather than put their logos on sub-par swill sold through shopping centre jewelry stores.
Of course, in fashion, the name is everything, and The Fashion Icon will have her own preferences: For Dior, you could also read Chanel, Chaumet, Cartier (the absolute perennial favourite), Graff, Harry Winston or another great label making serious timepieces. But Dior VIII, a family of watches with heavily faceted bracelets and bezels, available with or without diamonds, in two sizes (33mm and 38mm), and with automatic or quartz movements, offers something else dear to Fashion Icons: It's so new that it's tomorrow.
The Traveller
Vogard Timezoner (from GBP 3,500)
What distinguishes The Traveller's timekeeping needs from those whose forays abroad are less frequent? For one afflicted with wanderlust, nothing less than a 'world-timer' will suffice, for it allows The Traveller to know the time, at a glance, in any time zone on the planet. And while nearly every watch manufacturer produces a wristwatch able to show the time in two or more zones, Vogard makes nothing but world-timers.
Two features in particular make the Vogard so appealing. The first is the watch's patented method of changing the home or destination time so quickly and easily. The second is the option for ordering the watch with any of 24 cities or locations engraved on the bezel.
The Banker
Patek Philippe Calatrava (from £12,980)
Given the current public mood, the banker should err toward the style of his pre-1980s forebears: That of sobriety. Whereas once bankers and other executives in the financial sector were encouraged to 'power dress'. To do so today is inadvisable. Bankers now rate somewhere between al Qaeda and lawyers in the public eye. In these straitened times, The Banker must possess an air of discretion, of solidity, of dependability. To achieve this, there is one, and only one watch: The Patek Philippe Calatrava. In continuous production since 1932, born in the Depression, as it were, the Calatrava combines no-nonsense functionality with elegance. To the untrained eye, it is anonymous. To the individual who knows, it says that the wearer prefers Romanée-Conti to, well, anything else.
The Entrepreneur
Richard Mille RM038 (£380,000)
Unlike The Banker, The Entrepreneur has to inspire potential investors, and nothing suggests pending success like existing success. Better still, The Entrepreneur knows the value of a personal detail, such as a watch, for breaking the ice. Amongst the high-fliers in an exclusive bar in Tsim Sha Tsui, in the nose of the 747 or at the links at St. Andrews, a bold watch speaks volumes.
You don't need to know anything about watches to appreciate that a Richard Mille timepiece is something out of the ordinary.
This particular Richard Mille oozes high tech. It is a tourbillon made to withstand the shocks and abuses of The Entrepreneur's most important selling tool: A round of golf.
Developed for Bubba Watson, to wear on the links, the RM038 follows on from another Richard Mille watch subjected to cruel and inhuman punishment: Rafael Nadal wore one while winning Wimbledon.
The Bohemian
Van Cleef & Arpels (£77,500)
Inspiration? The free spirit with limitless imagination. Execution? A blend of techniques, including champlevé enamel and mother-of-pearl inlay, as mastered by one of the world's greatest jewelry houses. The 19th Century writings of Jules Verne, the father of science fiction, have stirred Van Cleef & Arpels to create a series of limited edition timepieces with dials illustrating four of his novels, but most notably, Five Weeks In A Balloon.
Bohos love whimsy. Is there any mode of transport more evocative of the so-called century of Bohemianism than a hot-air balloon?
At the dial's centre, the balloon rises slowly above Zanzibar. What better than its anchor and a seagull to act as retrograde hands for minutes and hours?
A white gold case, a Jaeger-LeCoultre 846 mechanical movement, severely limited production this is the watch of an individualist.
The Daredevil
Panerai Luminor Base Logo (£3,100)
As the name suggests, The Daredevil is fearless, probably to the point of absurdity. No challenge is too threatening, no risk too great. Hang gliding, surfing, off-roading, snowboarding think Tom Cruise rock climbing at the opening of Mission Impossible 2.
The watch to withstand all that has to be either incredibly cheap-and-cheerful (Casio sells millions of G-Shocks for good reason), or over-engineered and, well, scary.
Designed for the Italian Navy's underwater saboteurs in the 1930s, Panerai's Luminor re-surfaced to become THE cult diving watch of the 1990s and onward. Its patron saint? Sylvester Stallone, who wore them in a number of his more macho films. Not only that, but he gave one to Arnie, who featured it in Eraser. Go on: Try breaking one.
The Spy
Bremont Supermarine 500 (from £2,995)
Imaginative James Bond inspired watches with built-in lasers, homing devices, suspension cables, magnets and the like are, alas, pure fiction. And, as any real spy would not want to call attention to his or her presence, anything too large or too flashy would call attention to the wearer. Equally, a spy's watch must be dependable, functional, accurate to the second and able to serve a number of roles in difficult situations. So, if the Bremont Supermarine 500 is rugged enough for Bear Grylls, precise enough for chronometer certification, legible underwater, secure to 500m and resistant to magnetism, it should survive Messrs Bond, Bauer, Bourne and the like. And Bond himself would appreciate one other feature: It's British.
Wednesday, April 6, 2011
Asia's Banking Bonanza: Resource Deals
Deals involving natural-resource companies helped drive investment-banking revenues for the Asia-Pacific region to a record in the first quarter, despite a decline in share sales, another key revenue source.
Underscoring the depth of Asia's interest in acquiring mining, energy and other resources, China's Minmetals Resources Ltd. said Monday it intends to offer 6.3 billion Canadian dollars (US$6.5 billion) for Australian-based copper-miner Equinox Minerals Ltd. More deals look likely.
'Given the rise in commodities prices, we see the natural-resources sector leading the way [in deal-making]. National oil companies are really scouring the market for opportunities and we think they will find several in the coming months,' said Rob Sivitilli, head of mergers and acquisitions for Southeast Asia at J.P. Morgan Chase.
U.K. oil giant BP PLC's acquisition of oil and natural-gas assets controlled by India's Reliance Industries Ltd. for up to $9 billion, depending on the success of future exploration, is one of the largest M&A deals in the region so far this year, according to data provider Dealogic.
Investment banks generated $3.8 billion in revenue across the Asia-Pacific region from M&A, syndicated loans and equity and bond deals in the first three months of the year, up from $3.5 billion in the same period a year earlier, according to Dealogic estimates. Excluding Japan, revenue was $3.0 billion, up 35% from the $2.2 billion a year earlier and a record for the first quarter of a year.
While M&A was strong, share sales, including initial public offerings, fell. So-called equity-capital-market deals around the region fell to $66.2 billion from $77.5 billion a year earlier, hit by a 53% slide in Japanese deals to $12.5 billion from $26.6 billion a year ago, according to Dealogic. Several deals were withdrawn in the wake of the March 11 earthquake in Japan, including real-estate investment trust United Urban Investment Corp.'s plans to raise about 65 billion yen (about $750 million).
Excluding Japanese share sales, volume stood at $53.7 billion across 518 deals, up 5.5% from a year earlier. The region's biggest share deal for the quarter was Hutchison Port Holdings Trust's $5.4 billion IPO in Singapore.
Bankers said the first quarter seemed relatively quiet after the busy autumn of 2010. One reason for the drop in activity was that the flood of money from global investors that flowed into Asia last year streamed back into U.S. and European markets because of fear inflation was rising in countries such as Indonesia and China.
This year through March 30, investors pulled a net $5.9 billion from the Asia-Pacific region, although capital flowed into the region in the final week of the period, according to data from EFPR Global.
Bankers hope the flow of cash picks up enough momentum to support the growing band of global brand names seeking Hong Kong listings.
Headline deals expected in the coming months include offerings from the Italian fashion house Prada SpA and the Swiss commodities company Glencore International AG.
Steven Barg, Goldman Sachs Group Inc.'s co-head of equity capital markets for Asia excluding Japan, said 2011 should rival 2010 in terms of IPO volume, with most deals coming towards the second half of the year. Goldman was the busiest firm in the region excluding Japan during the first quarter measured by the value of equity-capital-markets deals.
In anticipation of a flood of deals later this year, UBS AG is raising its investment-banking staffing for the Asia-Pacific region by 20% this year, said Matthew Hanning, the bank's regional head of investment banking. The bulk of the new hires will work on share sales for Chinese companies. In volume terms, equity-capital-markets business from Chinese companies reached the highest level for any first quarter on record. A total of $28.1 billion was raised via 150 deals, up 30% from a year earlier.
UBS remained the top-ranked bank in terms of investment banking revenue from M&A, syndicated loans and equity and bond deals for the Asia-Pacific region excluding Japan, according to data from Dealogic.
The Asia-Pacific area made up about 22% of revenues for banks globally. Mr. Hanning calculated that the region's share of the global revenue pie has been growing at about six times the global average, attracting more banks to the region.
'I think there must be nine or 10 banks that see being within the top three in Asia as a core part of their strategy,' he said.
Underscoring the depth of Asia's interest in acquiring mining, energy and other resources, China's Minmetals Resources Ltd. said Monday it intends to offer 6.3 billion Canadian dollars (US$6.5 billion) for Australian-based copper-miner Equinox Minerals Ltd. More deals look likely.
'Given the rise in commodities prices, we see the natural-resources sector leading the way [in deal-making]. National oil companies are really scouring the market for opportunities and we think they will find several in the coming months,' said Rob Sivitilli, head of mergers and acquisitions for Southeast Asia at J.P. Morgan Chase.
U.K. oil giant BP PLC's acquisition of oil and natural-gas assets controlled by India's Reliance Industries Ltd. for up to $9 billion, depending on the success of future exploration, is one of the largest M&A deals in the region so far this year, according to data provider Dealogic.
Investment banks generated $3.8 billion in revenue across the Asia-Pacific region from M&A, syndicated loans and equity and bond deals in the first three months of the year, up from $3.5 billion in the same period a year earlier, according to Dealogic estimates. Excluding Japan, revenue was $3.0 billion, up 35% from the $2.2 billion a year earlier and a record for the first quarter of a year.
While M&A was strong, share sales, including initial public offerings, fell. So-called equity-capital-market deals around the region fell to $66.2 billion from $77.5 billion a year earlier, hit by a 53% slide in Japanese deals to $12.5 billion from $26.6 billion a year ago, according to Dealogic. Several deals were withdrawn in the wake of the March 11 earthquake in Japan, including real-estate investment trust United Urban Investment Corp.'s plans to raise about 65 billion yen (about $750 million).
Excluding Japanese share sales, volume stood at $53.7 billion across 518 deals, up 5.5% from a year earlier. The region's biggest share deal for the quarter was Hutchison Port Holdings Trust's $5.4 billion IPO in Singapore.
Bankers said the first quarter seemed relatively quiet after the busy autumn of 2010. One reason for the drop in activity was that the flood of money from global investors that flowed into Asia last year streamed back into U.S. and European markets because of fear inflation was rising in countries such as Indonesia and China.
This year through March 30, investors pulled a net $5.9 billion from the Asia-Pacific region, although capital flowed into the region in the final week of the period, according to data from EFPR Global.
Bankers hope the flow of cash picks up enough momentum to support the growing band of global brand names seeking Hong Kong listings.
Headline deals expected in the coming months include offerings from the Italian fashion house Prada SpA and the Swiss commodities company Glencore International AG.
Steven Barg, Goldman Sachs Group Inc.'s co-head of equity capital markets for Asia excluding Japan, said 2011 should rival 2010 in terms of IPO volume, with most deals coming towards the second half of the year. Goldman was the busiest firm in the region excluding Japan during the first quarter measured by the value of equity-capital-markets deals.
In anticipation of a flood of deals later this year, UBS AG is raising its investment-banking staffing for the Asia-Pacific region by 20% this year, said Matthew Hanning, the bank's regional head of investment banking. The bulk of the new hires will work on share sales for Chinese companies. In volume terms, equity-capital-markets business from Chinese companies reached the highest level for any first quarter on record. A total of $28.1 billion was raised via 150 deals, up 30% from a year earlier.
UBS remained the top-ranked bank in terms of investment banking revenue from M&A, syndicated loans and equity and bond deals for the Asia-Pacific region excluding Japan, according to data from Dealogic.
The Asia-Pacific area made up about 22% of revenues for banks globally. Mr. Hanning calculated that the region's share of the global revenue pie has been growing at about six times the global average, attracting more banks to the region.
'I think there must be nine or 10 banks that see being within the top three in Asia as a core part of their strategy,' he said.
Monday, March 21, 2011
The spread of nuclear crisis, Tokyo, city, or change "ghost town "
Areas of Tokyo usually packed with office workers like sushi restaurants and noodle shops were eerily quiet. Many schools were closed. Companies allowed workers to stay home. Long queues formed at airports.
As Japanese authorities struggled to avert disaster at an earthquake-battered nuclear complex 240 km (150 miles) to the north, parts of Tokyo resembled a ghost town.
Many stocked up on food and stayed indoors or simply left, transforming one of the world's biggest and densely populated cities into a shell of its usual self.
"Look, it's like Sunday -- no cars in town," said Kazushi Arisawa, a 62-year-old taxi driver, as he waited for more than an hour outside an office tower where he usually finds customers within minutes. "I can't make money today."
Radiation in Tokyo has been negligible, briefly touching three times the normal rate Tuesday, smaller than a dental x-ray. Wednesday, winds over the Fukushima nuclear-power plant gusted out to sea, keeping levels close to normal.
But that does little to allay public anxiety about an ailing 40-year-old nuclear complex with three reactors in partial meltdown and a fourth with spent atomic fuel exposed to the atmosphere after last Friday's earthquake and tsunami.
"Radiation moves faster than we do," said Steven Swanson, a 43-year-old American who moved to Tokyo in December with his Japanese wife to help with her family business.
He is staying indoors but is tempted to leave. "It's scary. It's a triple threat with the earthquake, tsunami and the nuclear radiation leaks. It makes you wonder what's next."
A number of major events have been canceled, including the World Figure Skating Championships, Japan Fashion Week and the Tokyo International Anime Fair whose organizers cited "extreme circumstances."
Some foreign bankers, flush with money, are fleeing fast, some on private jets. BNP Paribas, Standard Chartered and Morgan Stanley were among banks whose staff have left since Friday, according to industry sources.
Thousands of people have inundated private jet companies with requests for evacuation flights, sending prices surging.
Electronics shops are selling out of small, portable Geiger counters that measure radiation. Strawberry Linux, a Tokyo-based company, is out of stock, said its owner, Masahiro Ochiai.
As Japanese authorities struggled to avert disaster at an earthquake-battered nuclear complex 240 km (150 miles) to the north, parts of Tokyo resembled a ghost town.
Many stocked up on food and stayed indoors or simply left, transforming one of the world's biggest and densely populated cities into a shell of its usual self.
"Look, it's like Sunday -- no cars in town," said Kazushi Arisawa, a 62-year-old taxi driver, as he waited for more than an hour outside an office tower where he usually finds customers within minutes. "I can't make money today."
Radiation in Tokyo has been negligible, briefly touching three times the normal rate Tuesday, smaller than a dental x-ray. Wednesday, winds over the Fukushima nuclear-power plant gusted out to sea, keeping levels close to normal.
But that does little to allay public anxiety about an ailing 40-year-old nuclear complex with three reactors in partial meltdown and a fourth with spent atomic fuel exposed to the atmosphere after last Friday's earthquake and tsunami.
"Radiation moves faster than we do," said Steven Swanson, a 43-year-old American who moved to Tokyo in December with his Japanese wife to help with her family business.
He is staying indoors but is tempted to leave. "It's scary. It's a triple threat with the earthquake, tsunami and the nuclear radiation leaks. It makes you wonder what's next."
A number of major events have been canceled, including the World Figure Skating Championships, Japan Fashion Week and the Tokyo International Anime Fair whose organizers cited "extreme circumstances."
Some foreign bankers, flush with money, are fleeing fast, some on private jets. BNP Paribas, Standard Chartered and Morgan Stanley were among banks whose staff have left since Friday, according to industry sources.
Thousands of people have inundated private jet companies with requests for evacuation flights, sending prices surging.
Electronics shops are selling out of small, portable Geiger counters that measure radiation. Strawberry Linux, a Tokyo-based company, is out of stock, said its owner, Masahiro Ochiai.
Thursday, February 17, 2011
Obama Honors Victims as Suspect Appears in Court
Jared Lee Loughner, the man suspected of shooting 20 people Saturday, including a U.S congresswoman, made his first appearance in federal district court here Monday afternoon but said nothing that would reveal his possible motives.
In a brief hearing before Magistrate Judge Lawrence O. Anderson, the 22-year-old Mr. Loughner, accompanied by federal public defender Judy Clarke, spoke clearly and deliberately when addressed by the judge.
With a closely shaved head, Mr. Loughner entered the courtroom shackled at the waist wearing a dark beige jail jumpsuit. A U.S. Marshal stood nearby the defendant during the roughly 15 minute hearing.
Mr. Loughner said he was unable to afford an attorney and the judge appointed two federal public defenders to represent him. Both attorneys, Ms. Clarke and Mark Fleming, are based in California. Frequently, Ms. Clarke placed a hand on Mr. Loughner's left shoulder to appear to steady or comfort him. But he remained composed.
The defendant also waived his right to a detention hearing and the judge declared him a 'danger to the community' and ordered him to be held in custody indefinitely.
Mr. Loughner was subdued by attendees of a constituent event held Saturday by U.S. Rep. Gabrielle Giffords, the apparent target of the shooter, at a Tucson Safeway supermarket. Ms. Giffords was shot in the head but doctors have said she is expected to survive. Six people died and 13 others, in addition to Ms. Giffords, were wounded.
Judge Lawrence ordered a preliminary hearing for Jan. 24 and it's likely that this will be the last federal judge from Arizona to preside over a legal hearing for Mr. Loughner. The defense team indicated it might file a motion to have the entire case reassigned to a U.S. Attorney office outside the state.
Earlier Monday, President Barack Obama led the U.S. in a moment of silence, gathering with White House staff on the South Lawn to honor the victims of the shooting.
About 300 members of the White House staff, including Mr. Obama's top aides, were gathered on either side of the South Lawn.
The moment was also observed on Capitol Hill, where congressional staff members gathered on the steps of the East Front of the Capitol Building, with heads bowed and hands clasped in front of them. Most lawmakers were home in their districts.
Ms. Giffords continues to respond to simple commands and shows no evidence of additional brain swelling, hopeful signs, doctors said Monday.
Doctors at the University Medical Center in Tucson said seven other victims were also doing better. Five patients remained in serious condition, while two were characterized as in good condition. Two other patients have been released.
In a brief hearing before Magistrate Judge Lawrence O. Anderson, the 22-year-old Mr. Loughner, accompanied by federal public defender Judy Clarke, spoke clearly and deliberately when addressed by the judge.
With a closely shaved head, Mr. Loughner entered the courtroom shackled at the waist wearing a dark beige jail jumpsuit. A U.S. Marshal stood nearby the defendant during the roughly 15 minute hearing.
Mr. Loughner said he was unable to afford an attorney and the judge appointed two federal public defenders to represent him. Both attorneys, Ms. Clarke and Mark Fleming, are based in California. Frequently, Ms. Clarke placed a hand on Mr. Loughner's left shoulder to appear to steady or comfort him. But he remained composed.
The defendant also waived his right to a detention hearing and the judge declared him a 'danger to the community' and ordered him to be held in custody indefinitely.
Mr. Loughner was subdued by attendees of a constituent event held Saturday by U.S. Rep. Gabrielle Giffords, the apparent target of the shooter, at a Tucson Safeway supermarket. Ms. Giffords was shot in the head but doctors have said she is expected to survive. Six people died and 13 others, in addition to Ms. Giffords, were wounded.
Judge Lawrence ordered a preliminary hearing for Jan. 24 and it's likely that this will be the last federal judge from Arizona to preside over a legal hearing for Mr. Loughner. The defense team indicated it might file a motion to have the entire case reassigned to a U.S. Attorney office outside the state.
Earlier Monday, President Barack Obama led the U.S. in a moment of silence, gathering with White House staff on the South Lawn to honor the victims of the shooting.
About 300 members of the White House staff, including Mr. Obama's top aides, were gathered on either side of the South Lawn.
The moment was also observed on Capitol Hill, where congressional staff members gathered on the steps of the East Front of the Capitol Building, with heads bowed and hands clasped in front of them. Most lawmakers were home in their districts.
Ms. Giffords continues to respond to simple commands and shows no evidence of additional brain swelling, hopeful signs, doctors said Monday.
Doctors at the University Medical Center in Tucson said seven other victims were also doing better. Five patients remained in serious condition, while two were characterized as in good condition. Two other patients have been released.
Tuesday, December 21, 2010
Where Do All the Ultra-Rich Live?
The myth of broad prosperity in the last decade related not only to individuals but also to geography.
Everyone seemed to be everywhere ─ richer providers of hedge funds in Connecticut to construction contractors in Arizona and Colorado mortgage brokers.
We now know, of course, that prosperity was only for a few. And we also know that the geography of wealth remains highly concentrated.
A new study of wealth-X, the research firm wealth, shows that more than half of all people in the U.S. with $ 30 million in investable assets ─ live in five states California, New York, Texas, Florida and Illinois.
About a third live in California and New York alone.
Not surprisingly, of course, that many ultra-rich live in larger states. That's what you expect.
And Matthew Miller, head of research at wealth-X, said that although the Big Five dominate the ultra-rich list, the data also shows a surprising number of ultra-rich people living in the smaller and less visible .
He noted that aside from Alaska, Delaware, North Dakota and Maine, all states have at least 100 people for $ 30 million or more.
"Actually, there are pockets of wealth in states that most people usually do not think," he said.
Point well taken. But overall, the map of America's wealth is very similar to the national wealth and income distribution ─ pockets of great wealth, sitting on the mass of the rest of America.
It is also ironic that so many rich people who have not prevented many of the top wealth states fall into the budget crisis.
Do you think the map of U.S. wealthwill change over the next 10 years?
Everyone seemed to be everywhere ─ richer providers of hedge funds in Connecticut to construction contractors in Arizona and Colorado mortgage brokers.
We now know, of course, that prosperity was only for a few. And we also know that the geography of wealth remains highly concentrated.
A new study of wealth-X, the research firm wealth, shows that more than half of all people in the U.S. with $ 30 million in investable assets ─ live in five states California, New York, Texas, Florida and Illinois.
About a third live in California and New York alone.
Not surprisingly, of course, that many ultra-rich live in larger states. That's what you expect.
And Matthew Miller, head of research at wealth-X, said that although the Big Five dominate the ultra-rich list, the data also shows a surprising number of ultra-rich people living in the smaller and less visible .
He noted that aside from Alaska, Delaware, North Dakota and Maine, all states have at least 100 people for $ 30 million or more.
"Actually, there are pockets of wealth in states that most people usually do not think," he said.
Point well taken. But overall, the map of America's wealth is very similar to the national wealth and income distribution ─ pockets of great wealth, sitting on the mass of the rest of America.
It is also ironic that so many rich people who have not prevented many of the top wealth states fall into the budget crisis.
Do you think the map of U.S. wealthwill change over the next 10 years?
Monday, November 8, 2010
Rice: Israeli Settlements Have 'Negative Effect' on Peace Talks
America's top diplomat is in the Middle East trying to get the peace process back on track.
Israeli settlement expansion topped the agenda as Secretary of State Condoleezza Rice met separately with Israeli and Palestinian leaders. Rice used exceptionally harsh language to condemn Israel's announcement on Friday that it plans to build 1,300 new homes in disputed East Jerusalem, on land the Palestinians claim for their future capital.
"I do believe and the United States believes that the actions and the announcements that are taking place are indeed having a negative effect on the atmosphere for negotiation," said Condoleezza Rice. "And that is not what we want. We should be in a position of encouraging confidence, not undermining it."
Rice spoke at a news conference with Palestinian President Mahmoud Abbas in the West Bank town of Ramallah.
"We believe that settlement is the highest hurdle on the road of our political endeavors," said Mahmoud Abbas. "With the continued expansion and building of settlements the more tough the hurdle would become."
Despite the obstacles, Rice said both sides remain committed to the peace process.
"We are all devoted to and believe that it is possible to establish the agreement between the Palestinians and the Israelis for the establishment of a Palestinian state by the end of the year," said Mahmoud Abbas.
But that goal is in doubt because in addition to the settlements, gaps are wide on core issues like Palestinian refugees and the status of Jerusalem.
Israeli Prime Minister Ehud Olmert is also embroiled in a corruption scandal that could force him to step down. In the meantime, Mr. Olmert is widely seen as too weak to close a peace deal involving major territorial concessions to the Palestinians.
Israeli settlement expansion topped the agenda as Secretary of State Condoleezza Rice met separately with Israeli and Palestinian leaders. Rice used exceptionally harsh language to condemn Israel's announcement on Friday that it plans to build 1,300 new homes in disputed East Jerusalem, on land the Palestinians claim for their future capital.
"I do believe and the United States believes that the actions and the announcements that are taking place are indeed having a negative effect on the atmosphere for negotiation," said Condoleezza Rice. "And that is not what we want. We should be in a position of encouraging confidence, not undermining it."
Rice spoke at a news conference with Palestinian President Mahmoud Abbas in the West Bank town of Ramallah.
"We believe that settlement is the highest hurdle on the road of our political endeavors," said Mahmoud Abbas. "With the continued expansion and building of settlements the more tough the hurdle would become."
Israel says it has the right to build anywhere in Jerusalem because it will remain the capital of the Jewish state in any final peace agreement.
Despite the obstacles, Rice said both sides remain committed to the peace process.
"We are all devoted to and believe that it is possible to establish the agreement between the Palestinians and the Israelis for the establishment of a Palestinian state by the end of the year," said Mahmoud Abbas.
But that goal is in doubt because in addition to the settlements, gaps are wide on core issues like Palestinian refugees and the status of Jerusalem.
Israeli Prime Minister Ehud Olmert is also embroiled in a corruption scandal that could force him to step down. In the meantime, Mr. Olmert is widely seen as too weak to close a peace deal involving major territorial concessions to the Palestinians.
Sunday, November 7, 2010
Countdown Begins for U.S. Elections
Polls ahead of congressional and gubernatorial elections next week continue to show the Republican Party poised to make big gains.
A public opinion poll from the Gallup research organization indicates Republicans remain in position to seize control of the House of Representatives from Democrats, who now have majorities in both the House and Senate. Republicans need to gain 10 seats to win a majority in the Senate, but most analysts believe they will fall short.
Election activity has surged in the past few days with both major parties trying to motivate their supporters to vote.
U.S. President Barack Obama campaigned in the northeastern state of Rhode Island on Monday, while first lady Michelle Obama campaigned in the city of San Francisco with House Speaker Nancy Pelosi. The president will resume campaigning for Democratic candidates later in the week.
All 435 seats in the House of Representatives are at stake, plus 37 of the 100 U.S. Senate seats.
A public opinion poll from the Gallup research organization indicates Republicans remain in position to seize control of the House of Representatives from Democrats, who now have majorities in both the House and Senate. Republicans need to gain 10 seats to win a majority in the Senate, but most analysts believe they will fall short.
Election activity has surged in the past few days with both major parties trying to motivate their supporters to vote.
U.S. President Barack Obama campaigned in the northeastern state of Rhode Island on Monday, while first lady Michelle Obama campaigned in the city of San Francisco with House Speaker Nancy Pelosi. The president will resume campaigning for Democratic candidates later in the week.
All 435 seats in the House of Representatives are at stake, plus 37 of the 100 U.S. Senate seats.
Friday, November 5, 2010
Stocks in Hong Kong and Japan fell and the U.S. dollar rose a day after China raised interest rates for the first time since December 2007
Economists interpret the move as a sign that authorities are taking a more aggressive stance against inflation and bank lending.
Chinese borrowers will now have to pay at least 0.25 percentage points more interest on their loans. China's central bank increased the cost of borrowing late Tuesday, ahead of releasing inflation figures for September.
Higher inflation rate
Market analysts expect the inflation rate to be higher than the 3.5 percent recorded in August – already the fastest pace in nearly two years. They think China hopes higher rates will cool price increases.
Jan Lambregts, global head of financial markets research at Rabobank, says the central bank is also trying to slow lending.
"Chinese policy makers are very unhappy about bank lending and they want to curb that more…. It's really a warning shot, to those banks – 'curb your bank lending, we're serious,'" Lambregts said.
Credit boom
For the first nine months of the year, bank lending reached $948 billion – just 19 percent shy of the government's target for the year. The credit boom has sparked a surge in property prices nationwide.
Last week, the central bank asked six major banks to raise the ratio of deposits they hold as reserves, which reduces the amount available for lending.
With the increase, the one-year lending rate now stands at 5.56 percent, while the deposit rate climbs to 2.5 percent. China had not moved its interest rates in nearly three years.
On Wednesday, stock prices in Hong Kong declined just under 1 percent, led by property companies. Japan's Nikkei index fell by 1.6 percent. But Shanghai managed to claw back losses earlier in the day. And in Seoul and Taipei, main stock indexes closed higher.
Investment money
A flow of investment money from developed economies seeking higher returns could complicate China's efforts to slow its economy. The problem could worsen if the U.S. Federal Reserve increases the amount of money in circulation in the coming weeks to stimulate the American economy.
Strong foreign investment flows may boost China's currency. A stronger yuan would make imported commodities cheaper, helping manage inflation. Lambregts says expectations of more rate increases could have an influence on the exchange rate.
"I think we should take a broader view, that in terms of hot money inflow, any prospect of further tightening on the monetary front only increases the feeling that you should be in China," he added.
The yuan's exchange rate is tightly managed by the central bank, although it has risen 2.5 percent against the dollar since June. But on Wednesday, the dollar recorded its biggest gain against the yuan since June, after the Chinese central bank sharply lowered the reference rate for yuan movements.
Chinese borrowers will now have to pay at least 0.25 percentage points more interest on their loans. China's central bank increased the cost of borrowing late Tuesday, ahead of releasing inflation figures for September.
Higher inflation rate
Market analysts expect the inflation rate to be higher than the 3.5 percent recorded in August – already the fastest pace in nearly two years. They think China hopes higher rates will cool price increases.
Jan Lambregts, global head of financial markets research at Rabobank, says the central bank is also trying to slow lending.
"Chinese policy makers are very unhappy about bank lending and they want to curb that more…. It's really a warning shot, to those banks – 'curb your bank lending, we're serious,'" Lambregts said.
Credit boom
For the first nine months of the year, bank lending reached $948 billion – just 19 percent shy of the government's target for the year. The credit boom has sparked a surge in property prices nationwide.
Last week, the central bank asked six major banks to raise the ratio of deposits they hold as reserves, which reduces the amount available for lending.
With the increase, the one-year lending rate now stands at 5.56 percent, while the deposit rate climbs to 2.5 percent. China had not moved its interest rates in nearly three years.
On Wednesday, stock prices in Hong Kong declined just under 1 percent, led by property companies. Japan's Nikkei index fell by 1.6 percent. But Shanghai managed to claw back losses earlier in the day. And in Seoul and Taipei, main stock indexes closed higher.
Investment money
A flow of investment money from developed economies seeking higher returns could complicate China's efforts to slow its economy. The problem could worsen if the U.S. Federal Reserve increases the amount of money in circulation in the coming weeks to stimulate the American economy.
Strong foreign investment flows may boost China's currency. A stronger yuan would make imported commodities cheaper, helping manage inflation. Lambregts says expectations of more rate increases could have an influence on the exchange rate.
"I think we should take a broader view, that in terms of hot money inflow, any prospect of further tightening on the monetary front only increases the feeling that you should be in China," he added.
The yuan's exchange rate is tightly managed by the central bank, although it has risen 2.5 percent against the dollar since June. But on Wednesday, the dollar recorded its biggest gain against the yuan since June, after the Chinese central bank sharply lowered the reference rate for yuan movements.
White House Condemns Killing of Iraqi Governor
The White House is condemning Tuesday's assassination of the governor of Baghdad province. The Bush administration says continuing violence will not delay Iraqi elections later this month.
White House spokesman Scott McClellan says President Bush condemns in the strongest terms the killing of Governor Ali al-Haidari, who was shot along with his bodyguards as they drove through a Baghdad neighborhood.
Mr. al-Haidari, who was one of 17 provincial governors, survived a previous attempt on his life several weeks ago.
Noting that a group led by al-Qaida ally Abu Musab al-Zarqawi has claimed responsibility for the governor's killing, White House spokesman McClellan says the choice for Iraqis is clear: either stand on the side of freedom, democracy and peace or stand on the side of the terrorists.
Mr. McClellan says continuing to move toward this month's scheduled elections is an important part of defeating what he says is the terrorist ambition of returning to a past of tyranny and oppression.
He says there was no discussion of delaying those elections during a Monday telephone call between President Bush and Iraqi interim Prime Minister Iyad Allawi.
"We fully support the independent Iraqi Election Commission timetable of January 30 for holding those elections,” he said. “It is important that we continue to move forward on all fronts, to help the Iraqi people realize a better future, a future that stands in stark contrast to the one of the brutal regime of Saddam Hussein."
Mr. McClellan says President Bush and Prime Minister Allawi discussed security surrounding the vote and how U.S. troops can continue working with Iraqi forces to make sure the country is as secure as possible so the election goes forward.
Mr. McClellan says Prime Minister Allawi's administration is continuing to work with Sunni leaders to ensure widespread participation in the vote.
"They are moving forward on reaching out to areas where there is a heavy population of Sunnis to encourage as broad a participation in that segment of society as well. We want to see all parts of Iraq participate to the fullest extent possible in these elections," he added.
Sunnis are a minority in Iraq, and many Sunni leaders say the country is not secure enough to hold the vote. One Sunni party has already announced a boycott and several Sunni groups have said they want the balloting postponed because of security concerns.
Violence continues ahead of the January 30 vote. In a separate attack, a suicide bomber rammed an explosives-laden truck into a police checkpoint near Baghdad's heavily protected Green Zone, killing at least 10 people and wounding 60 others.
Three American soldiers were killed and two wounded in a different bomb attack in Baghdad. Elsewhere, another U.S. soldier and a Marine were also killed.
White House spokesman Scott McClellan says President Bush condemns in the strongest terms the killing of Governor Ali al-Haidari, who was shot along with his bodyguards as they drove through a Baghdad neighborhood.
Mr. al-Haidari, who was one of 17 provincial governors, survived a previous attempt on his life several weeks ago.
Noting that a group led by al-Qaida ally Abu Musab al-Zarqawi has claimed responsibility for the governor's killing, White House spokesman McClellan says the choice for Iraqis is clear: either stand on the side of freedom, democracy and peace or stand on the side of the terrorists.
Mr. McClellan says continuing to move toward this month's scheduled elections is an important part of defeating what he says is the terrorist ambition of returning to a past of tyranny and oppression.
He says there was no discussion of delaying those elections during a Monday telephone call between President Bush and Iraqi interim Prime Minister Iyad Allawi.
"We fully support the independent Iraqi Election Commission timetable of January 30 for holding those elections,” he said. “It is important that we continue to move forward on all fronts, to help the Iraqi people realize a better future, a future that stands in stark contrast to the one of the brutal regime of Saddam Hussein."
Mr. McClellan says President Bush and Prime Minister Allawi discussed security surrounding the vote and how U.S. troops can continue working with Iraqi forces to make sure the country is as secure as possible so the election goes forward.
Mr. McClellan says Prime Minister Allawi's administration is continuing to work with Sunni leaders to ensure widespread participation in the vote.
"They are moving forward on reaching out to areas where there is a heavy population of Sunnis to encourage as broad a participation in that segment of society as well. We want to see all parts of Iraq participate to the fullest extent possible in these elections," he added.
Sunnis are a minority in Iraq, and many Sunni leaders say the country is not secure enough to hold the vote. One Sunni party has already announced a boycott and several Sunni groups have said they want the balloting postponed because of security concerns.
Violence continues ahead of the January 30 vote. In a separate attack, a suicide bomber rammed an explosives-laden truck into a police checkpoint near Baghdad's heavily protected Green Zone, killing at least 10 people and wounding 60 others.
Three American soldiers were killed and two wounded in a different bomb attack in Baghdad. Elsewhere, another U.S. soldier and a Marine were also killed.
Thursday, November 4, 2010
A new U.N. report says foreign direct investment by transnational corporations will start to recover in 2010 and rebound substantially in 2011
The U.N. Conference on Trade and Development has published the results of this year's World Investment Prospects Survey.
More than 240 transnational corporations were surveyed for this report. The results show a drastic 54 percent decline in foreign direct investment inflows for the first quarter of 2009.
The UNCTAD survey finds cross border mergers and acquisitions dropped by an even more dramatic 77 percent, compared to the same period last year.
Although this gloomy situation is expected to persist throughout the year, the transnational corporations surveyed indicate they expect foreign direct investment will progressively recover in 2010 and gain momentum in 2011.
But, UNCTAD Director of Division on Investment and Enterprise James Zhan warns of several risks related to the recovery of FDI.
"One is the further global economic downturn," he said. "A second is an increase in financial instability and a third, which is very interesting, is the rise of protectionism involving a change in foreign investment regime."
Zhan says protectionism is not a big deal at the moment. But, he says the TNC's concerns about the risk of protectionism in foreign investments is not ungrounded.
"The economic stimulus packages could give rise to what can be labeled as smart protectionism," said Zhan. "Furthermore, a new wave of economic nationalism could occur in the aftermath of the crisis when the exit of the public investment from the bailout flagship industries might lead to the protectionism of the national 'champions' from the foreign takeovers."
The survey finds FDI prospects remain bright in the agriculture and services industries, while the situation is less optimistic for the manufacturing sector.
It says developed countries from North America and the European Union are the regions most affected by the crisis. Sub-Saharan Africa and North Africa are least affected.
The survey shows developing countries in East and Southeast Asia are particularly attractive destinations for foreign investment. And, it notes the top five spots favored by TNC's are China, the United States, India, Brazil, and Russia.
Wednesday, November 3, 2010
Afghanistan's government-appointed Independent Election Commission has released what it calls "final but preliminary" results from the August 20 vote for president
The disputed returns show incumbent President Hamid Karzai with enough ballots to avoid a runoff with former Foreign Minister Abdullah Abdullah. But the controversy is far from over.
The complete preliminary results show Afghan President Hamid Karzai with more than 54 percent of the votes and Abdullah Abdullah with less than 28 percent.
Chief Electoral Officer Daoud Ali Najafi informed reporters of the vote totals.
"Abdullah Abdullah has received 1,571,581 votes. Hamid Karzai has received 3,093,256 votes," he said.
The Abdullah campaign has complained for weeks that supporters of the president rigged the election, even at polling booths where Mr. Karzai had strong support. It is an allegation that has gained credence from neutral observers.
The Election Complaints Commission has ordered a recount involving at least 10 percent of voting stations nationwide. The ECC, dominated by appointees of the United Nations, issued the order to the Afghan government's Election Commission following hundreds of what it deemed serious complaints of ballot box stuffing and other allegations of fraud.
The head of the EU observer team, Phillippe Morillon, says that in the mean time, the Karzai campaign should refrain from declaring victory.
"Any claim for any count or of victory will be premature and not credible and will be premature due to the fact that the Afghan electoral law asks for the results to be authenticated at the end of the process," he said.
But recounting and certifying the results are expected to take some weeks, if not longer.
A runoff election is supposed to be held two weeks after the final results are certified. But a second round of balloting might not feasible if inclement weather sets in. That might leave Afghanistan with what many would view as an illegitimate government until the snow melts in April.
The complete preliminary results show Afghan President Hamid Karzai with more than 54 percent of the votes and Abdullah Abdullah with less than 28 percent.
Chief Electoral Officer Daoud Ali Najafi informed reporters of the vote totals.
"Abdullah Abdullah has received 1,571,581 votes. Hamid Karzai has received 3,093,256 votes," he said.
The Abdullah campaign has complained for weeks that supporters of the president rigged the election, even at polling booths where Mr. Karzai had strong support. It is an allegation that has gained credence from neutral observers.
The Election Complaints Commission has ordered a recount involving at least 10 percent of voting stations nationwide. The ECC, dominated by appointees of the United Nations, issued the order to the Afghan government's Election Commission following hundreds of what it deemed serious complaints of ballot box stuffing and other allegations of fraud.
European Union election observers question the validity of about a third of the ballots, nearly 1.5 million. EU observers tell reporters in Kabul that under suspicion are some 1.1 million votes cast for Mr. Karzai and 300,000 ballots marked for Mr. Abdullah.
President Karzai's campaign calls the EU observer team's comments "irresponsible." Karzai supporters say they are hoping that even after ballots deemed fraudulent are discarded the president will still have more than 50 percent of total votes to avoid a runoff election with Mr. Abdullah.
The head of the EU observer team, Phillippe Morillon, says that in the mean time, the Karzai campaign should refrain from declaring victory.
"Any claim for any count or of victory will be premature and not credible and will be premature due to the fact that the Afghan electoral law asks for the results to be authenticated at the end of the process," he said.
But recounting and certifying the results are expected to take some weeks, if not longer.
A runoff election is supposed to be held two weeks after the final results are certified. But a second round of balloting might not feasible if inclement weather sets in. That might leave Afghanistan with what many would view as an illegitimate government until the snow melts in April.
Tuesday, November 2, 2010
South Korea plans an unprecedented peace-time mobilization of soldiers
South Korea's military, coast guard and police said they are preparing for all imaginable disruptions during next month's G-20 Summit in Seoul.
Those include large demonstrations, riots, terror and cyber-attacks, and attempts by rival North Korea to spoil the meeting.
The commissioner general of the South Korean National Police Agency, Cho Hyun-Oh, noted Monday that some previous G-20 and other major international summits have been plagued with violence. Combining that with the aggressive reputation of South Korean demonstrators, he said, means authorities must be prepared for the worst during next month's event.
Cho predicts that protests during the G-20 Seoul Summit, though, will not be very violent, and his forces will be able to prevent the situation from getting out of hand. He is mobilizing 50,000 police officers - more than one-third of the national force - to provide security in Seoul during the summit November 11th and 12th.
South Korea's Joint Chiefs of Staff say the armed forces will go on a "Level 3" alert, which is the highest, starting at the end of this month.
The Defense Ministry is preparing for eight possible types of provocative acts by North Korea, including intrusions south of the Northern Limit Line, the disputed maritime border in the Yellow Sea. The Coast Guard will defend the Han River in Seoul. And the Air Force will be on the lookout for planes that may try to intrude into the airspace over the summit. Cho said he expects the military will be prepared to use anti-aircraft missiles in the capital should any invasions of airspace occur.
The fifth G-20 summit is expected to be the largest so far - attracting 10,000 participants, including 32 heads of government and leaders of international organizations.
The leaders attending include U.S. President Obama, Chinese President Hu Jintao, and the heads of several European countries. In addition, U.N. Secretary-General Ban Ki-moon and the heads of the International Monetary Fund and World Bank will be there.
South Korean officials say they have ample experience in holding such an event, noting the successful 2002 World Cup and the 2005 APEC summit. Even so, they say severe traffic congestion can be expected throughout the capital during the G-20 Summit.
Those include large demonstrations, riots, terror and cyber-attacks, and attempts by rival North Korea to spoil the meeting.
The commissioner general of the South Korean National Police Agency, Cho Hyun-Oh, noted Monday that some previous G-20 and other major international summits have been plagued with violence. Combining that with the aggressive reputation of South Korean demonstrators, he said, means authorities must be prepared for the worst during next month's event.
Cho predicts that protests during the G-20 Seoul Summit, though, will not be very violent, and his forces will be able to prevent the situation from getting out of hand. He is mobilizing 50,000 police officers - more than one-third of the national force - to provide security in Seoul during the summit November 11th and 12th.
South Korea's Joint Chiefs of Staff say the armed forces will go on a "Level 3" alert, which is the highest, starting at the end of this month.
The Defense Ministry is preparing for eight possible types of provocative acts by North Korea, including intrusions south of the Northern Limit Line, the disputed maritime border in the Yellow Sea. The Coast Guard will defend the Han River in Seoul. And the Air Force will be on the lookout for planes that may try to intrude into the airspace over the summit. Cho said he expects the military will be prepared to use anti-aircraft missiles in the capital should any invasions of airspace occur.
The fifth G-20 summit is expected to be the largest so far - attracting 10,000 participants, including 32 heads of government and leaders of international organizations.
The leaders attending include U.S. President Obama, Chinese President Hu Jintao, and the heads of several European countries. In addition, U.N. Secretary-General Ban Ki-moon and the heads of the International Monetary Fund and World Bank will be there.
South Korean officials say they have ample experience in holding such an event, noting the successful 2002 World Cup and the 2005 APEC summit. Even so, they say severe traffic congestion can be expected throughout the capital during the G-20 Summit.
Monday, October 18, 2010
Wenger confirmed that a small law defender is still recovering Tigers missed two free
Early morning of Oct. 20 Beijing Time, Arsenal Emirates Stadium will usher sits challenges Shakhtar Donetsk, Champions League third team before the game, Wenger informed at the press conference gunmen injury.
Little has been revealed over the weekend to catch up with the competition law professor to confirm once again: "The Sai Sike can match, and he was well prepared and very good. He also has a small obstacle can be played but has recovered."
"I'm not sure whether he is starting, but he was available to send, just depends on whether or not I am willing to take risks, because he had missed some time. Tomorrow I will make a final decision, but his body is ready for competition and has played wishes. "
In addition, Wenger also referred to international competition at the injured Theo Walcott, "There are some problems Theo toes, but already healed ankle injury, he will enter the big list, and now starting to tell you who is still very difficult, because I still did not make up their minds. "
"But Coase Czerny, Virginia Mullen, and van Persie still sidelined with injuries in all three of them will not appear in the squad."
Little has been revealed over the weekend to catch up with the competition law professor to confirm once again: "The Sai Sike can match, and he was well prepared and very good. He also has a small obstacle can be played but has recovered."
"I'm not sure whether he is starting, but he was available to send, just depends on whether or not I am willing to take risks, because he had missed some time. Tomorrow I will make a final decision, but his body is ready for competition and has played wishes. "
In addition, Wenger also referred to international competition at the injured Theo Walcott, "There are some problems Theo toes, but already healed ankle injury, he will enter the big list, and now starting to tell you who is still very difficult, because I still did not make up their minds. "
"But Coase Czerny, Virginia Mullen, and van Persie still sidelined with injuries in all three of them will not appear in the squad."
Thursday, October 14, 2010
As each Chilean miner was hauled to the surface
The smooth rescue operation is a reflection of the businesslike attitude that Mr. Pinera, a billionaire businessman turned politician, brought with him when he took office in March, becoming Chile's first conservative president in decades, analysts said.
'The fact they are alive was a miracle. The fact they are out is to the government's credit,' said Patricio Navia, a Chilean political scientist who teaches at New York University. Mr. Navia said he expected Mr. Pinera's current approval rating of around 50% to rise. After the cave-in on Aug. 5, Mr. Pinera cut short a visit to Colombia and flew to the mine to comfort family members who refused to give up the workers for dead.
Mr. Pinera insisted that the government would spare no expense to find them. Soon after, he returned to the mine bringing experts from state-run Chilean copper company Corporacion Nacional del Cobre, known as Codelco, to lead the search efforts.
When the miners were found on Aug. 22, the president flew back to the mine to get the rescue efforts under way. When the miners were lifted to safety on Wednesday, they were greeted at the top with hugs from Mr. Pinera. As Chileans celebrated, Mr. Pinera said he would stay at the mine until the last miner was rescued.
'The president must always be prepared. Therefore, I will stay here until we rescue the 33 miners. . . . We won't leave them behind,' he said.
Mr. Pinera, who made his fortune mostly through Chile's LAN Airlines SA, has been in problem-solving mode since his first day in office on March 11.
Just days before taking office, Chile was hit by one of the strongest earthquakes on record, an 8.8 magnitude quake. He tossed aside his plans for the first 100 days and focused entirely on the quake aftermath.
Critics, however, say the president's high-profile role in the rescue efforts could have a downside, too: Some might think he has been hogging the camera for political gain.
'The media overexposure could generate a backlash,' said Bernando Navarrete, associate professor at Universidad de Santiago's international studies school.
Following the handwritten note that came out of the mine on Aug. 22 telling the world that the 33 miners were alive
'The fact they are alive was a miracle. The fact they are out is to the government's credit,' said Patricio Navia, a Chilean political scientist who teaches at New York University. Mr. Navia said he expected Mr. Pinera's current approval rating of around 50% to rise. After the cave-in on Aug. 5, Mr. Pinera cut short a visit to Colombia and flew to the mine to comfort family members who refused to give up the workers for dead.
Mr. Pinera insisted that the government would spare no expense to find them. Soon after, he returned to the mine bringing experts from state-run Chilean copper company Corporacion Nacional del Cobre, known as Codelco, to lead the search efforts.
When the miners were found on Aug. 22, the president flew back to the mine to get the rescue efforts under way. When the miners were lifted to safety on Wednesday, they were greeted at the top with hugs from Mr. Pinera. As Chileans celebrated, Mr. Pinera said he would stay at the mine until the last miner was rescued.
'The president must always be prepared. Therefore, I will stay here until we rescue the 33 miners. . . . We won't leave them behind,' he said.
Mr. Pinera, who made his fortune mostly through Chile's LAN Airlines SA, has been in problem-solving mode since his first day in office on March 11.
Just days before taking office, Chile was hit by one of the strongest earthquakes on record, an 8.8 magnitude quake. He tossed aside his plans for the first 100 days and focused entirely on the quake aftermath.
Critics, however, say the president's high-profile role in the rescue efforts could have a downside, too: Some might think he has been hogging the camera for political gain.
'The media overexposure could generate a backlash,' said Bernando Navarrete, associate professor at Universidad de Santiago's international studies school.
Following the handwritten note that came out of the mine on Aug. 22 telling the world that the 33 miners were alive
Tuesday, October 12, 2010
Golf Phenom Is a London Financial Analyst
The man, according to U.K. newspaper the Mail on Sunday is a London investment analyst named Rupesh Shingadia. His firm was identified elsewhere as Threadneedle Asset Management.
To recap: Shingadia was caught by photos at the Ryder Cup golf tournament in Wales, where the 30-year-old showed up with a Grucho-style mustache and cigar, and wearing an off-kilter reddish (maroon, really) wig. Shingadia's image zoomed around the Web in the background of an amazing photo of Tiger Woods whacking a golf ball directly at the camera lens.
There are thousands of Facebook fans for Cigar Guy. His image has been Photoshopped into dozens of iconic images from Martin Luther King Jr.'s 'I Have a Dream Speech' to the opening montage of 'The Simpsons' television series. A blog even offered $1,000 to unmask the formerly anonymous 'Cigar Guy.'
Shingadia told the Mail on Sunday that he dressed up in a tribute Miguel Angel Jimenez, a bon-vivant Spanish golfer known for trotting on the greens puffing a stogie.
To recap: Shingadia was caught by photos at the Ryder Cup golf tournament in Wales, where the 30-year-old showed up with a Grucho-style mustache and cigar, and wearing an off-kilter reddish (maroon, really) wig. Shingadia's image zoomed around the Web in the background of an amazing photo of Tiger Woods whacking a golf ball directly at the camera lens.
There are thousands of Facebook fans for Cigar Guy. His image has been Photoshopped into dozens of iconic images from Martin Luther King Jr.'s 'I Have a Dream Speech' to the opening montage of 'The Simpsons' television series. A blog even offered $1,000 to unmask the formerly anonymous 'Cigar Guy.'
Shingadia told the Mail on Sunday that he dressed up in a tribute Miguel Angel Jimenez, a bon-vivant Spanish golfer known for trotting on the greens puffing a stogie.
Monday, October 11, 2010
Kenya found a rare "Pink Hippo"
According to the Metro.co.uk of September 28, British wildlife photographer brothers Will and Matt Burrard-Lucas captured a rare pink hippo in Kenya. "It was a young one as it is much smaller than the other hippos and always stayed close to its mother,"said Will, 26. A handful of pink hippos have been recorded in Uganda but never Kenya。
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