Sunday, January 6, 2013

ACS (Independent) improves on IB Diploma results for 2012 exams


//What's the purpose of CNA highlighting ACS in particular for this IB performance? What about the other 19 schools? Besides, ACS isn't Singapore's top school. If Raffles or Hua Chong were to be on the IB scheme, they would beat ACS flat. 

This news report is like a cheap flick - Duke, is Ivy, but will never, ever rank ahead of Harvard, so it doesn't even bother to try or it will look like this report - pathetic.




ACS (Independent) improves on IB Diploma results for 2012 exams
By Imelda Saad | Posted: 06 January 2013 1416 hrs


SINGAPORE: The Anglo-Chinese School (Independent) has bettered its performance in the International Baccalaureate exams.

Results for the 2012 examinations show that 37 of its students obtained perfect scores - up from 29 the year before.

84.6 per cent of its students scored 40 points or more - an increase of about seven percentage points from the year before.

ACS(I) is one of 19 schools in Singapore which offer the IB Diploma programme.

The sixth cohort of the school's IB students received their results on Sunday at 9am.

This is the school's largest IB cohort to-date.

ACS(I) offers the IB Diploma programme as part of its Integrated Programme.

1,370 students from Singapore sat for the IB Diploma Programme (IBDP) examinations in November last year.

In total, forty-one students managed perfect scores, 45 out of 45.

On average, students in Singapore scored 36.50 points for 2012, higher than the global average of 30.01.

Singapore's pass rate of 97.90 per cent is also the highest among 21 countries in the Asia Pacific.

- CNA/fa

WP hopes to raise S$1.5m to purchase headquarters


//This is getting interesting...its great to go to a free carnival and protest against PAP or how you didn't get born with a silver spoon in the mouth.

Now lets see what happens when you're asked to lighten your wallet to watch some C rated play... 



WP hopes to raise S$1.5m to purchase headquarters
By Sharon See | Posted: 06 January 2013 1758 hrs


Workers' Party


SINGAPORE: The opposition Workers' Party (WP) is hoping to raise S$1.5 million for the purchase of its own headquarters.

The party's secretary-general Low Thia Khiang and chairman Sylvia Lim said this at the party's first musical concert, titled "Brick in Blue".

Ms Lim said since the 2011 general election, the party has raised some S$500,000.

The money came from monthly contributions from its elected Members of Parliament, as well as private donations from friends and acquaintances.

The rest of the money, she said, will be raised through public donations.

Ms Lim said the S$1.5 million will be used for the down payment of the property, while the balance of the purchase price will be financed through a loan.

Speaking to reporters during the intermission of the musical, Mr Low said the party has yet to find a suitable property.

He said proceeds from the concert will go towards the party's building fund.

The party is currently renting an office along Syed Alwi Road.

- CNA/xq

Indonesian town bans women from straddling motorbikes

// "The Islamic body pointed out that there is nowhere in the Koran that mentions how women should ride motorcycles." 


Indonesian town bans women from straddling motorbikes
Published Saturday, Jan 5 2013, 11:12pm EST | By Paul Martinovic | Add comment




© flickrAn Indonesian town has banned women from straddling motorcycles.

Town officials claim that the controversial move is to "maintain women's dignity".

According to ABC News, women in Lhokseumawe, Sumatra, will be told from Monday (January 7) that they cannot straddle a motorcycle or scooter, especially when sitting behind a man.

The women are to be instructed to ride side-saddle instead.

Mayor of Lhokseumawe Suaidi Yahya said the it is an attempt to protect women's morals and maintain their "dignity and good image".

However, the ruling has been criticsed by the country's top Muslim clerical body, the Ulema Council.

The Islamic body pointed out that there is nowhere in the Koran that mentions how women should ride motorcycles.

Read more: http://www.digitalspy.com/odd/news/a448811/indonesian-town-bans-women-from-straddling-motorbikes.html#ixzz2HBAlI7uF
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IMF Officials: We Were Wrong About Austerity

IMF Officials: We Were Wrong About Austerity

Sharp spending cuts and tax increases have long played a central role in the International Monetary Fund's prescriptions for governments in financial distress -- most recently for the struggling members of the euro area. Now, officials at the world's primary arbiter of fiscal prudence are recognizing that such austerity can do a lot more damage than previously thought.

The first major indication of the IMF's change of heart came in October. In its World Economic Outlook, the fund published research showing that back in 2010, when Greece and other European countries embarked on severe austerity programs, its forecasters underestimated the negative impact spending cuts and tax increases would have on the broader economy.

In a paper presented today at the annual meeting of the American Economic Association, two IMF officials -- chief economist Olivier Blanchard and economist Daniel Leigh -- elaborated on the findings and their implications. The paper contains the boilerplate statement that it "should not be reported as representing the views of the IMF." Nonetheless, given its authors, it provides a good indication of the zeitgeist at the fund.

The authors focus on a number known as the fiscal multiplier -- the amount a country's economic output changes for each euro of change in government spending or revenue. They estimate that for European austerity measures started in 2010, the multiplier was significantly greater than one, meaning economic output shrank by more than one euro for each euro in deficit reduction. That's much higher than the multiplier of 0.5 that the IMF and other forecasters typically used in 2010 and that had proven more or less accurate in the years before the 2008 financial crisis.

The upshot: Fiscal multipliers can be a lot higher in times of distress than in normal times. The logical conclusion is that Europe's austerity policies were founded on faulty assumptions and should be eased -- something Bloomberg View has advocated. To some extent, that has happened in recent months with the loosening of demands on Greece and with European leaders' tentative discussions of fiscal transfers to stimulate growth in stricken economies.

Blanchard and Leigh are quick to point out that their results don't mean austerity is always a bad idea. Governments can't run large budget deficits and build up debts indefinitely without disastrous consequences. The question is how -- and how fast -- they can get to fiscal prudence without tanking their economies.

(Mark Whitehouse is a member of the Bloomberg View editorial board. Follow him on Twitter.)

For more quick commentary from Bloomberg View, go to The Ticker.

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Wind industry big lies no 3: wind turbines are eco-friendly

//James, you're worried about bats and birds and therefore oppose wind energy? OK, fine, then make sure your ass is big enough to stuff up smog, ozone, sulphur dioxide, or nuclear waste - take your pick or have all of them. 


James Delingpole
James Delingpole is a writer, journalist and broadcaster who is right about everything. He is the author of numerous fantastically entertaining books, including his most recent work Watermelons: How the Environmentalists are Killing the Planet, Destroying the Economy and Stealing Your Children's Future, also available in the US, and in Australia as Killing the Earth to Save It. His website is www.jamesdelingpole.com.




Wind industry big lies no 3: wind turbines are eco-friendly


By James Delingpole Politics Last updated: January 5th, 2013

472 Comments Comment on this article




Of all the many lies put out by the subsidy-troughing scum-suckers of the wind industry and their greenie fellow travellers, the biggest porkie of the lot is this: that wind turbines are eco-friendly.

In order to believe this tosh, you'd first have to accept the warped view that being eco-friendly can legitimately entail wiping out millions of bats and birds. It is a measure of just how intellectually and morally corrupt Big Green has grown over the last few decades that many self-professed environmentalists actually cleave to this belief. Why else would they expend so much energy trying to defend – or distract from – the indefensible truth: that wind farms around the world are destroying rare species on an industrial scale?

If you haven't already, I'd heartily recommend the article in this week's Spectator by Oxford ecologist Clive Hambler. He doesn't pull his punches on the devastation being wrought by wind turbines.


Every year in Spain alone — according to research by the conservation group SEO/Birdlife — between 6 and 18 million birds and bats are killed by wind farms. They kill roughly twice as many bats as birds. This breaks down as approximately 110–330 birds per turbine per year and 200–670 bats per year. And these figures may be conservative if you compare them to statistics published in December 2002 by the California Energy Commission: ‘In a summary of avian impacts at wind turbines by Benner et al (1993) bird deaths per turbine per year were as high as 309 in Germany and 895 in Sweden.’

It's not just the quantity of birds and bats being killed that worries Dr Hambler, but their rarity.


Because wind farms tend to be built on uplands, where there are good thermals, they kill a disproportionate number of raptors. In Australia, the Tasmanian wedge-tailed eagle is threatened with global extinction by wind farms. In north America, wind farms are killing tens of thousands of raptors including golden eagles and America’s national bird, the bald eagle. In Spain, the Egyptian vulture is threatened, as too is the Griffon vulture — 400 of which were killed in one year at Navarra alone. Norwegian wind farms kill over ten white-tailed eagles per year and the population of Smøla has been severely impacted by turbines built against the opposition of ornithologists.

Nor are many other avian species safe. In North America, for example, proposed wind farms on the Great Lakes would kill large numbers of migratory songbirds. In the Atlantic, seabirds such as the Manx Shearwater are threatened. Offshore wind farms are just as bad as onshore ones, posing a growing threat to seabirds and migratory birds, and reducing habitat availability for marine birds (such as common scoter and eider ducks).

This is indeed one of the great environmental scandals of our time. So why don't we hear about it more often? Dr Hambler has his suspicions:


First, because the wind industry (with the shameful complicity of some ornithological organisations) has gone to great trouble to cover it up — to the extent of burying the corpses of victims. Second, because the ongoing obsession with climate change means that many environmentalists are turning a blind eye to the ecological costs of renewable energy.

Indeed. And where are our own RSPB on this? Are they doing their bit to fight the menace posed by bat-chomping, bird-slicing eco-crucifixes?

Au contraire. They're actively propagandising on the wind industry's behalf.


Climate change poses the single greatest long-term threat to birds and other wildlife, and the RSPB recognises the essential role of renewable energy in addressing this problem.

But wait: the RSPB's endorsement of this corrupt, mendacious, animal-killing, landscape-blighting, fuel-poverty-creating, job-destroying, health-damaging industry doesn't end there. No sirree. If there's free money out there to be snaffled, then the RSPB is going to try a grab a piece of it.


RSPB Scotland has submitted plans to Aberdeenshire Council to install a 62ft high “domestic” turbine at its Loch of Strathbeg reserve, near Crimond, in Buchan.

The reserve is home to almost 300 species of birds during the year and in winter tens of thousands of geese, including up to a quarter of the world’s population of pink-footed geese, visit the loch.

Yes, I know, I know: it reads like an April fool. So let me just repeat it, for those of you too stunned to believe it could be so -

THE ROYAL SOCIETY FOR THE PROTECTION OF BIRDS WANTS TO ERECT AN INDUSTRIAL BIRD-KILLING DEVICE ON ONE OF ITS NATURE RESERVES.

What's more, of course, if they get their way you and I will be subsidising the RSPB to destroy birds via the compulsory tariffs we play via Renewable Obligations Certificates and Feed In Tariffs.

In today's Telegraph Charles Moore rightly lamented the politicisation of the RSPCA. Oughtn't the RSPB's million members be asking similar awkward questions of their own cherished organisation?

eg if the RSPB wants to go on supporting wind farms oughtn't it consider changing its name?

The Royal Society For Killing Birds would be the obvious one.


Tags: bat-chomping bird-slicing eco-crucifixes, bats, birds, carnage, Clive Hambler, hypocrites, lies, Mark Duchamp, Royal Society for Killing Birds,RSPB, Spectator, wind turbines

Saturday, January 5, 2013

Hot chocolate tastes better in orange cup

Hot chocolate tastes better in orange cupANI | Jan 4, 2013, 06.08 PM IST

READ MORE University Of Oxford|Polytechnic University|Oxford|Orange|Food



Hot chocolate tastes better in orange cup (Thinkstock photos/Getty Images)

Hot chocolate tastes better in an orange or cream coloured cup than in a white or red one, researchers say.

The study by two researchers from thePolytechnic University of Valencia and theUniversity of Oxford adds to recent research demonstrating how our senses perceive food in a different way depending on the characteristics of the container from which we eat and drink.

"The colour of the container where food and drink are served can enhance some attributes like taste and aroma," Betina Piqueras-Fiszman, researcher at the Polytechnic University of Valencia (Spain), told SINC.

Along with her colleague Charles Spence, from the University of Oxford (UK), the scientist has come to the conclusion in the case ofdrinking chocolate.

Both conducted an experiment in which 57 participants had to evaluate samples of hot chocolate served in four different types of plastic cup. They were the same size but of different colours: white, cream, red and orange with white on the inside.

The results reveal that the flavour of chocolate served in orange or cream coloured cups was better for the tasting volunteers.

However, the sweetness and the aroma where hardly influenced by the colour of the cup, despite the participants mentioning that the chocolate was slightly sweeter and more aromatic in a cream coloured cup.

"There is no fixed rule stating that flavour and aroma are enhanced in a cup of a certain colour or shade," Piqueras-Fiszman said.

"In reality this varies depending on the type of food, but the truth is that, as this effect occurs, more attention should be paid to the colour of the container as it has more potential than one could imagine," she said.

According to the study, these results are relevant for those scientists interested in understanding how the brain integrates visual information not just from the food itself but from the receptacle or container from which it is consumed.

In addition, this information could encourage chefs, catering professionals and even the packaging industry to think more about the colour of crockery and packaging. As the researcher explains, "it is a case of experimenting to understand how the container itself affects the perceptions that the consumers have on the product."

The study has been published in the Journal of Sensory Studies.

US criticizes Google chairman's N. Korea visit


//For Christ sake, Eric Schmidt, get the hell out of the way of international affairs. You represent Google and Google has no place outside the free world. Let the US government handle this first, and you go do what you do best. You've no value-add in this equation and you will screw things up royally.


US criticizes Google chairman's N. Korea visit
Posted: 04 January 2013 1104 hrs
 
WASHINGTON: The United States on Thursday criticized a planned visit to North Korea by Google chairman Eric Schmidt, calling it ill-timed in the wake of Pyongyang's widely condemned rocket launch last month.

Schmidt -- whose company has an unofficial motto of "Don't Be Evil" -- is planning to visit the isolated nation with former New Mexico governor Bill Richardson, a veteran troubleshooter on North Korea.

Richardson has been to North Korea a number of times in the past 20 years and has been involved in negotiating the release of US citizens detained in the country.

News of the visit, described as "private' by both Washington and Seoul, comes just weeks after Pyongyang confirmed the arrest of a US citizen of Korean descent and said he would be prosecuted for unspecified crimes.

Pyongyang has in the past agreed to hand over detainees to high-profile delegations led by the likes of former US president Bill Clinton, and some observers suggested it may have requested Schmidt's participation in this case.

US State Department spokeswoman Victoria Nuland clearly conveyed Washington's lack of enthusiasm for the mission, and told reporters that both Schmidt and Richardson were "well aware" of that view.

"Frankly we don't think the timing of this is particularly helpful... in light of recent actions by (Pyongyang)," Nuland said, adding that she was referring to its long-range rocket launch in December.

Pyongyang defended the launch as a purely scientific mission aimed at placing a satellite in space, but the international community saw it as a disguised ballistic missile test that flagrantly violated UN resolutions.

Nuland said that Schmidt and Richardson would be travelling in an "unofficial capacity," adding: "They are not carrying any messages from us."

When asked if the pair had been told of Washington's displeasure about the timing, the spokeswoman replied: "They are well aware of our views."

Google has so far refused officially to confirm the visit. Richardson's staff told AFP he would be out of the United States until Friday and unavailable for comment.

Richardson was last in Pyongyang in 2010 when he met North Korea's chief nuclear negotiator in an attempt to ease tensions after the North shelled a South Korean border island.

The US citizen arrested in November, identified as Pae Jun-Ho, entered the country as a tourist according to North Korea's official Korean Central News Agency (KCNA) which said he had admitted committing a crime against the state.

North Koreans are largely isolated from external news and information sources and very few citizens have access to a computer, let alone the Internet.

Google is present in neighboring China, where it has long struggled with government censors. In 2010 it effectively shut down its Chinese search engine, re-routing mainland users to its uncensored site in Hong Kong.

Asked whether the US would be happy to see Google help North Korea build its Internet infrastructure, Nuland noted that all US companies were subject to US economic sanctions currently in place against North Korea.

-AFP/ac

Thursday, January 3, 2013

This Guy Turned $20K Into $2 Million (You Can, Too)

http://www.bloomberg.com/video/this-guy-turned-20k-into-2-million-you-can-too-piX08ijaQ7WeFEyhxEau8g.html



//This guy is just mistaking luck with skill. I've seen tons of these type of people in my life. They are no different from those winners of university stock trading games - they don't last.

If you're a 'big wave surfer waiting for months to take the next big wave, then who is going to pay your bills in the meantime?'

Bloomberg should do the learning crowd here a favour and not leave it to me to say it in this small blog.



East Mongolia, Part 1: A journey to Genghis Khan's homeland

// Wonderful pics, if only that mongolian didn't smoke in front of the cam - where did he get the cigarettes from in the grasslands?

credits to http://www.gochengdoo.com/en/blog/item/2859/east_mongolia_part_1_a_journey_to_genghis_khans_homeland

East Mongolia, Part 1: A journey to Genghis Khan's homeland





Today, there is little to suggest that these peaceful grasslands in northeastern Mongolia with their endless blue skies was once the heart and brain of history's largest empire.





Although the exact birthplace of Temujin 850 years ago is unknown, historians believe that he grew up in the lands around the River Onon in Mongolia's Khentii and then went on to unite all rival tribes in the region. Eventually, he conquered vast parts of Asia, Eastern Europe, and the Middle East and became Genghis Khan. The precise circumstances and location of his death are also unknown, but his ancestors believe that, in keeping with Mongolian tradition, that the Father of Mongolia was buried in his homeland in an unmarked grave.








These days Khentii and neighboring Dondor are sparsely populated aimags (provinces), home to herdspeople living simple lives on the steppes, mostly isolated from contact with the modern world. The quietness and absence of human proliferation make the area an ideal sheltered place to spot wildlife, particularly in the protected natural reserves and national parks bordering Russia to the north and China to the east.



















































































This article was first published in CHENGDOO citylife Magazine,issue 60 ("Old School"). Photos by Leo Chen.


Wednesday, January 2, 2013

Bad China bets ruin 2012 for Asia's star fund managers

//Their argument will be: we're still in positive territory!


Dec 31 (Reuters) - The Warren Buffetts of the East failed to live up their reputations in 2012, when big-name investment gurus made the wrong calls on China while markets in India and Southeast Asia raced ahead to rank among the top performers globally.

Between January and November this year, Franklin Templeton's Mark Mobius and Value Partners' Cheah Cheng-hye fell short of their benchmarks by the widest margins in more than a decade, data from Thomson Reuters Lipper showed.

Sustained underperformance by the top names could push investors towards cheaper, passively managed index and exchange traded funds (ETFs), a trend that has taken hold in Europe and the United States where active funds find it tougher to exceed benchmarks.

"The (Chinese) economic slowdown in 2012 certainly had a negative impact on the consumer sector, an area I am overweight," Fidelity's Anthony Bolton, another star portfolio manager who failed to beat his benchmark during the period, told Reuters in an email.

"The fund's focus on small and mid-caps also hurt performance," said Bolton, who returned three years ago amid much fanfare to chance his arm in China.

All three A-listers were undermined by their bets on China, whose stock market, measured by top Shanghai and Shenzhen listings CSI300, fell 8.8 percent through November on fears of economic slowdown, and as a once-a-decade political leadership change was completed in that month. The index has since rebounded and is now up 4.5 percent for 2012.

By contrast, share markets in the resilient Southeast Asian economies have rallied, and Indian shares have risen by a quarter so far this year, helped by $24 billion foreign portfolio inflows.

Bolton's Fidelity China Special Situations was up 5.8 percent in the 11 months to end-November, 8 percentage points behind its benchmark MSCI China index. That came after missing its gauge by nearly 18 percentage points last year.

His play on China consumer stocks backfired, with sector shares falling 5 percent on average compared with an average 15 percent rise in consumer staple stocks in Asia Pacific, data from Thomson Reuters StarMine showed.

MOBIUS TRIPS

Mobius also paid a price for his heavy China exposure, with almost 30 percent of the $16.9 billion Templeton Asian Growth fund invested there. Those positions proved to be a drag on performance: the fund notched just 10.6 percent return, lagging the benchmark MSCI AC Asia ex Japan index by 8.3 percentage points and logging its biggest gap since 1999.

The fund suffered from its investment in some energy stocks, as the sector was impacted by swings in commodity prices, Mobius said, with poor show by automobiles also hurting performance.

His fund's top holding at end-September was PetroChina , the nation's dominant oil and gas producer, Lipper data showed, a stock that fell by 13 percent in the year to end-November.

Value Partners Classic Fund, managed by a team led by Cheah, was 16.6 percentage points behind Hang Seng index, its widest gap since 1999, data from Lipper showed.

"This macro-driven year has been a long winter for value investing, as investors have stayed on the sidelines remaining defensive," a spokeswoman for Value Partners said.

BAD NEWS FOR MONEY MANAGERS

The underperformance by stellar names highlights the struggles large, actively managed funds face in trying to beat their benchmarks in the West and now in Asia, a trend likely to push investors towards cheaper index and ETFs.

That would be a blow to active money managers who typically charge a fee of 1.5 percent of assets under management, nearly three times that of ETFs, Lipper data showed.

ETFs blindly track indices and require no management or research, making them cheaper than active funds run by teams of investment professionals.

To keep charging premium fees, active managers would have to show results. Expectations of outperformance are especially high in Asia due to the region's relatively under-researched and inefficient markets compared with more mature economies.

Otherwise, active managers risk losing business to passive investment funds, a firm trend in developed markets, as a result of their low cost and of the failure of actively-managed funds to consistently outperform.

This year U.S. investors embraced low-cost, passively managed index funds. For instance, customers ploughed $130.4 billion into Vanguard Group's mutual funds and ETFs in the first 11 months of 2012, setting a new record for annual inflows.

The trend has also benefited BlackRock's iShares ETF unit, while hurting more traditional firms like American Funds, Dodge & Cox and Janus Capital Group

That shift is gaining momentum in Asia. Assets managed by ETFs to invest in Asia Pacific topped $150 billion by November, from around $34 billion a decade ago, Lipper data showed.

In contrast to the big beasts of the Asian investment world, more obscure funds like the $109 million Manulife Global Fund-Asian Small Cap Equity and $96 million Australian Leaders fund have beat benchmarks by more than 20 percentage points.

Manulife's fund delivered 35.3 percent return, nearly three times that generated by its benchmark FTSE World Asia Pacific Small Cap ex Japan index as of end-November.

Still, both Mobius and Bolton are positive on prospects for 2013. The nature of growth in China is changing as the country's export- and investment-driven model is gradually superseded by one driven by consumption, Bolton believes. This means the pace of growth will be slower, but more resilient.

"The economic cycle is now in its favour, as is the political process," Bolton said.

Sunday, December 30, 2012

Delhi gang rape - death penalty


//if you think the death penalty is an arcane law that can't be intellectually justified, then maybe you'd think otherwise if it were your own daughter, Joshua Chiang!


Minister for Law and Foreign Affairs K. Shanmugam has weighed in on the death of the Indian woman who died yesterday after a brutal attack by six men in New Delhi.

In a Facebook post today, he called it a "heartbreaking case", and said that he would often cite cases like this as examples when he discusses with people who want the death penalty here to be abolished.

"Many would agree that this is a type of case where, if the injuries inflicted were of a nature sufficient to cause death, then the abusers should face the death penalty," he wrote.

His comments sparked hundreds of responses on his Facebook page. Some supported his stance the dealth penalty, such as a netizen who went by the name OC Yeo, who said: "The death penalty must remain - otherwise justice cannot be served."

Others, however, said the punishment remains unjustifiable.

A user called Joshua Chiang said the death penalty is "an arcane law that cannot be intellectually justified on any grounds".

In response, Minister Shanmugam said he sees the punishment as "a necessary evil".

"Having the death penalty alone is not going to stop violent crimes - it didnt stop this young lady from being grossly violated," he wrote.

Billionaire Princelings Ruin a Chinese Vision

Billionaire Princelings Ruin a Chinese Vision

China (SHCOMP) has had a rough year with an international media that are in Woodward-and-Bernstein mode: It is following the money.

This week's Bloomberg News expose on the so-called Eight Immortals is a case in point. Building on a June article tracing the accumulated wealth of the family of Xi Jinping, China's next president, it described the vast fortunes being amassed by the offspring of the founding fathers who were instrumental in Mao Zedong's rise to power in 1949. Mao changed the world by meeting U.S. President Richard Nixon, and Immortals such as Deng Xiaoping engineered the economic boom that has unfolded since then.

Now, the tactics of the journalistic duo that brought down Nixon, Bob Woodward and Carl Bernstein, are helping to unearth the rot that has taken hold in Deng's vision for his people. Deng's plan, and that of China's other Immortals, was to cement the Communist Party's rule by boosting living standards. And it succeeded wildly, lifting some 600 million people out of poverty and putting China on a growth path that may allow the country's economy to surpass the U.S.'s in 15 years or so.

  • Graphic: Mapping the Family Tree of China's Red Aristocracy
  • Bloomberg's Full Special Report: Revolution to Riches

What the Immortals hadn't counted on was how their children would foul things up. By harnessing the trust of the state and top-level political connections, these princelings are reaping outsized benefits from China's growth. It is an outcome that would shock Deng: After 30 years of explosive growth, opening markets and reducing poverty, inequality levels now echo the pre-Communist era.

Wealth Grab

One of modern history's greatest wealth grabs isn't just exacerbating the rich-poor divide, but delaying the reforms needed to roll back the state control that masks underlying economic inefficiency. There is lots of money in the status quo -- an unfathomable amount, in fact. Just three of the Immortals' dozens of children and their spouses -- among them Deng's son-in-law and the son of Mao's economic czar -- founded or run companies with combined assets of $1.6 trillion as of last year. That is equivalent to almost a fifth of China's gross domestic product.

More than a third of the Immortals' children and their spouses hold top positions in state-owned enterprises. And then there's princeling Xi, who will run China for the next 10 years and have the final say over whether his pledge to root out corruption is real or hollow rhetoric. Bloomberg documented how his family accumulated a fortune estimated at $376 million.

Connecting Dots

The New York Times also had a busy year following the money and connecting the financial dots. The Times reported that the family of current Premier Wen Jiabao has made billions of dollars during his tenure. That's quite a blow to the carefully honed image of the modest and simple "Grandpa Wen" of the people.

The government's response has been indignation. It accused the Times, for example, of harboring political motives to destabilize the regime. Yet China has a growing corruption problem on its hands, one that must be addressed in a transparent manner.

When you peruse many of the reader responses to foreign press reports about Chinese graft, conspiracy theories abound: The western media want to undermine China's rise and is doing the bidding of officials in Washington and Tokyo. That, of course, is silly. Only a fool would hope for a crash in the world's No. 2 economy and for 1.3 billion people to struggle to find enough to eat. Global economics isn't a zero-sum game. When hundreds of millions of people get rich, that will benefit all of us, whether you work for Rolex, Nike Inc. or Toyota Motor Corp.

Biggest Threat

The sad truth is that hundreds of millions of Chinese aren't rolling in yuan the way Deng might have hoped. It's getting harder to hide that reality from China's masses, and that poses a growing threat to the Communist Party. Closing international-media websites, as China does at the sight of an unflattering article, can't hide the internal decay as wealth becomes more and more concentrated.

The Bo Xilai scandal started well enough for the party leaders. At first, it seemed an efficient way to purge a Chongqing politician who forgot his place. Bo's charisma and glowing media coverage of his populist "Chongqing model" of development ran afoul of many in power. They lost control of the narrative when the story became about the enormous wealth that Bo's extended family had accumulated.

The Bo saga put the international media on the case as rarely before. Average Chinese, too, are proving to be worthy adversaries for the Communist Party's army of Internet censors. Blocking Google Inc.'s search engine, Facebook Inc.'s social- media site and Twitter Inc.'s micro-blogging service haven't silenced the masses. They are finding inventive ways to get around the firewall; this pattern will only intensify.

No industrializing economy has ever avoided a crash, and neither will China. Possible catalysts include pollution and surging living costs. Yet the one that China's leaders are probably most loath to confront is the sight of Communist Party officials becoming modern-day Rockefellers and Vanderbilts. It surely never occurred to Deng that finding wealth would be China's undoing. When you follow the money, it's hard to conclude otherwise.

(William Pesek is a Bloomberg View columnist. The opinions expressed are his own.)

To contact the writer of this article: William Pesek in Tokyo at wpesek@bloomberg.net.

To contact the editor responsible for this article: James Greiff at jgreiff@bloomberg.net.

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Wednesday, December 26, 2012

Ethel Fong is living the good life


//Everyone, and I mean, EVERYONE, from the cleaning lady to the Presidents and Kings love to say how tough life was when they were young, how they grew up out of poverty and their oh-so-humble background. Give me a break man!


Ethel Fong is living the good life

Singapore's first Ford model was the face of Armani, married her Prince Charming with castle included, and now helps poor kids get an education. -ST
Wong Kim Hoh

Tue, Dec 25, 2012
The Straits Times

Two formally suited businessmen stop talking and start staring as she strides confidently across the lift lobby of the Four Seasons Hotel in Orchard Boulevard.

Her full lips, smoky eyes and glossy long tresses are striking. So is her slender 1.8m frame, clothed in a tasteful ensemble of champagne- coloured Ralph Lauren silk blouse, black Balenciaga pantsuit and pointy toe Mary Janes from Manolo Blahnik.

In the 1980s, Ethel Fong turned heads as one of the rare Asian models who worked the runways of Paris, London, New York and Milan, graced the pages of Italian Vogue and W magazines, and became the face of an international Armani campaign.

She quit the catwalk 23 years ago to marry entrepreneur Jean Chalopin, a Frenchman with a 700-year-old mediaeval castle, and raise two children, both of whom are now in university.

But the 49-year-old has clearly lost none of the presence which got her a contract - making her the first Singaporean and second Asian to do so - with the world-famous Ford Model Agency in New York in 1985.

"I will try to remember," she says with a laugh, when asked to chart her journey from gawky kampung girl to jet-setting international model.

"It seems like my last life now," says Mrs Fong-Chalopin who now helps to run StoryPlus, a foundation she set up with her husband to support literacy and education for underprivileged children. Her beginnings, she says, were humble. The second-youngest of seven children of a shipyard painter and a housewife, she grew up in a wooden house with a zinc roof on a little hill in Pasir Panjang.



She got into Raffles Girls' Primary School, she says, on the coat tails of her cleverer older sisters. "But I couldn't sustain it. That was why I was kicked to Pasir Panjang Secondary School," she adds self-deprecatingly.

She was, she claims, a wall- flower: tall, gawky and excruciatingly shy.

"I shouldn't be telling you this but at 15, when other girls were wearing bras, I was still wearing a singlet. So no, I was not popular with the boys."

Her gawkiness and her pigeon gait got one of her older brothers sufficiently worried to ask their mother to do something about the situation. Her mother decided to invest $200 for her to attend a deportment course conducted by a modelling agency.

The course more than just improved her daughter's posture, it led to a career - but not before a lot of tears were shed.

"After a few sessions, one of the instructors asked me if I was keen to do fashion shows. I was flattered but it was also made quite clear to me that it was because of my height, and not my looks," she says.

Determined to do something about her shyness, the then 16-year-old accepted the offer.

Parading in public was harder than she expected. But she steeled herself.

"I told myself that since I decided to do this, I had to do it well. I had to understand the profession, and

I needed personality to showcase what I had to model. I had to get rid of my fear," she says.

To go for broke, the business student decided to drop out of Ngee Ann Polytechnic in her second year.

"I was not very good at multitasking and I felt that if I continued that way, I would not succeed in either."

The decision did not go down well with her parents who believed that modelling was not a proper job for a girl.

"I promised my mother that I would not do anything that would make her ashamed of me. I asked her to let me make my own choices," she says.

The scene then, she says, was intimidating.

"Many models at that time such as Tina Tan and Gillian Barker came from good families and a certain social background. For them, it was glamour play," she says. Tan's father was a property developer and her grandfather was rubber tycoon Tan Lark Sye, while Barker's father was the late law minister Eddie Barker.

"With my background, I felt a little inferior and a bit of an outsider. I had to learn all those designer names. I had absolutely no idea," she recalls.

She signed on with Carrie's Models after a year, and tried to move beyond the catwalk to take on photographic assignments.

"It was like being slapped in the face. I was just not what Singapore wanted. My features were different. I have thick lips and a big smile. In the late 1970s and early 1980s, they wanted girls with small lips."

There were countless rejections.

"Clients even called my agent in front of me and said, 'Why did you even bother to send her down?'" she lets on. "I'd take a deep breath and walk out and the tears would fall after that. I had to cry outside and not at home because doing this was my own choice."

Fortunately, she was resilient, a trait she thinks she inherited from her mother.



When Mrs Fong-Chalopin was 12, her mother ploughed all that she had saved into a small little terraced house in Chwee Chian Road off Pasir Panjang for the family. But she lost everything when the developer went bankrupt before the house was completed.

"I was only 12. Watching my mother cry day and night at the construction site was not easy," she says. But her old lady, she says, was a fighter. She worked hard, borrowed and managed to pay off enough of the developer's debt to regain the house.

"I learnt then that life is not always fair," she says, adding that this early lesson helped her cope with the many rejections she faced in her early days.

To make herself stand out, she experimented with make-up, and studied shoots in international magazines, teaching herself how to pose and project different personas.

One of the first people to give her a break was local designer Tan Yoong who loved her looks and pushed for her to appear on the cover of Her World wearing one of his creations. Tan - who always art- directs shoots of models wearing his designs - remembers her well.

"She had the X factor. More importantly, she had a great attitude and was very hard-working. She would listen carefully and would always give me what I wanted," he says.

While she started making some headway, it was not until she ventured abroad that she became sought-after here.

Mrs Fong-Chalopin was modelling for an Emanuel Ungaro fashion show in Singapore when the French woman in charge of the event told her she should try her luck in Paris.

So she did, without telling anyone.

"I only told my parents the night before I left. I was not sure what I was doing. I didn't want to become afraid or give anyone a chance to talk me out of it. If nobody knew what I was doing, nobody would know if I failed too."

It was a big move for an 18-year-old who spoke no French. But Mrs Fong-Chalopin returned a short while later, with a big confidence boost.

"There was interest in my looks there. I knew I could stay and find work and I knew what to do if I went again."



She did just that, and was soon modelling for the likes of Dior and Chanel. Not long after, she started getting offers to model in Milan as well.

That period in her life, she says, has become a blur.

"Everything happened so fast. I was just working and working," she says.

It was not all easy-peasy. The scene was not only competitive but also bitchy and fraught with temptations, she says.

"I was alone and I knew that to survive, I had to stay out of trouble. It was very important to me that I didn't have to call anyone for help. Anyway, who would come for me? They didn't even know where I was."

She had a simple philosophy: "Whenever things were not going a certain way, I would say 'no'. It's easier not to put yourself in a situation than to get out of it.

"Could I have gone farther if I had taken risks? Maybe. But I'm happy with the choices I made."

Doors also opened for her when she visited a boyfriend in San Francisco.

"I didn't intend to model there but I got a bit bored so he asked me to try it out there," she says. Within six months, she became the top-earning model in the city, appearing in the catalogues of big department stores such as Neiman Marcus and Nordstrom.

Jet-setting between Europe and the United States, she made a good living, often earning more than $50,000 a month.

Her profile in the US received a boost in 1985 when she decided to visit the famous Ford Model Agency, which has produced top models from Lauren Hutton to Elle Macpherson, while on an assignment in New York.

"I had a few hours before catching my plane so I dropped in to see them. I didn't have an appointment and they said they didn't see anyone without an appointment.

"But Katie Ford (daughter of agency founder Eileen Ford) was walking down the stairs and she saw me.

"Was it luck? Was it the right timing? Or was it meant to be? I don't know," she says.

The news made headlines in The Straits Times. By then, her success overseas had made her a hot commodity in Singapore too.



"It's strange," she says with a smile. "The same people who turned me down were now saying that they knew I would make it."

In 1986, she scored another coup when designer Giorgio Armani handpicked her to be the face of one of his campaigns.

"My agency in Milan sent me out on an assignment. They didn't tell me what it was for. I ended up in this magnificent building in Milan.

"It was like a palace and I remember tight security and walking through quiet corridors before I came to a room. A man was standing in the room."

That man was Armani. She passed him her portfolio, he looked at it, and five minutes later, just said "thank you" and sent her off.

"The next day, I got the job," says Mrs Fong-Chalopin.

The campaign appeared in the pages of Italian Vogue, W and other international fashion magazines.

"It opened a lot of doors for me. After the campaign, I got 11 shows in London without having to audition," she says.

It also got her a husband. Her photographs - taken by famed photographer Aldo Fallai - caught the attention of Mr Chalopin, a French TV producer and writer, while he was flipping through a copy of Vogue before going into a meeting.

Apparently he tore the pages out, and told himself: "If I find this girl, I will marry her."



Six months later, by a strange twist of fate, one of his fashion photographer friends was commissioned by The San Francisco Chronicle newspaper to trail Mrs Fong- Chalopin as she worked the fashion show circuit in Europe.

The photographer engineered a meeting between the two in Paris, and the rest is history.

Now a private investor, Mr Chalopin founded production company DIC, which had offices in Europe, the US and Japan and was the world leader in animated children's TV programmes including hits such as Inspector Gadget, The Care Bears and The Littles.

Three years after they began courting, she decided to give up modelling.

"The timing was right: I was 25, I achieved my modelling goal of appearing in Vogue, I was tired of living out of suitcases.

"I was getting older and girls were starting younger, I met a wonderful man and felt that it was time to concentrate on my relationship, and to build my life as a woman, not as a model."

They wed in 1998 in Chateau de Farcheville, a romantic castle which had 200 rooms and a moat, which Mr Chalopin had bought.

Husband and wife spent the next 11 years renovating it, turning the rooms into 15 beautiful suites. The kampung girl from Pasir Panjang became mistress of the manor, overseeing a staff of 27 including chefs and butlers.

"Culturally I learnt so much. It was like running a hotel," says Mrs Fong-Chalopin, adding that her son Janvier, 20, and daughter Tanis, 19, were raised there.

The couple decided to sell the castle six years ago. It was just too big.

"In life, there are many chapters. It was a nice chapter but it had to end. We didn't want to leave it to the kids because it could be a poisonous gift. There is no guarantee that they can afford to upkeep it," says Mrs Fong-Chalopin, who now owns homes with her husband in the Swiss Alps, New York, Beijing and Singapore.



To give their children a cosmopolitan education, the family lived for periods of time in Lausanne and Beijing. Their son is now studying economics at Johns Hopkins University; their daughter is doing music composition at New York University's Steinhardt School of Culture, Education and Human Development.

Now that her children have flown the coop, Mrs Fong-Chalopin is devoting more time to StoryPlus, the foundation she and her husband started 10 years ago to help improve literacy and support education among underprivileged children.

So far, the foundation has supported the building of schools and orphanages in Mozambique and Burkina Faso in Africa as well as Bhutan.

"Our foundation is not big, I don't go fund-raising at all. I go with projects which I feel are sustainable and worthwhile, supported by people I trust. But I really hope to take it to another level," she says.

"I have been extremely blessed in so many aspects of my life. But in my travels, I've come across people born in places or families where a happy outcome is unlikely or not possible," says the former model, who comes home at least four times a year to see her parents and siblings. One of her brothers runs a car company, another is the managing director of a multinational while one sister runs a teakwood plantation in Indonesia.

She is now exploring other causes and has put together a book titled Obor, The Torch Bearers, featuring Indonesians who, despite their own problems, are helping others in significant ways.

London-based lawyer Karen Fong says of the friend she has known for 25 years: "She looks very sophisticated now, very different from the kampung girl that she was. And yet inside her, there is still the kampung girl who loves her family, her husband and her children and treasures her friendships and the simpler things in life."

Mrs Fong-Chalopin turns 50 next July and will celebrate it by scaling Mount Kilimanjaro in the summer with her family.

She sees life as a book with many chapters.

"Hopefully, I have a few more chapters to go, and I hope they will be influenced by torch bearers too."

kimhoh@sph.com.sg


Get a copy of The Straits Times or go to straitstimes.com for more stories.

Friday, December 21, 2012

Mayan Apocalypse: the end of the world - live!


// OK, here we are, at the height of human advancement.

We have:
i) split the atom and re-created the sun's power and control its power

ii) modified genes to create creatures that nature could not

iii) sent a probe beyond pluto and on its way out of the Milky Way

iv) made it possible to fly (on parachutes, gliders, planes and helicopters)

v) reclaimed energy from the sun and wind

Yet in this great generation, some of us choose to believe a civilisation 2000 years ago.


Mayan Apocalypse: the end of the world - live!

Thirteen long Baktuns ago, way back on August 11 3114 BC our time, the world began. We've had a pretty good innings ladies and gentleman - cured all sorts of disease, created great art, invented the printing press, jazz and the X Factor, and generally had a good laugh. But time is up. The Mayans predicted it and most modern scientists agree.



Image 1 of 4

Once at the heart of a conquering civilisation in its own right, the ancient city of Tikal is now a pilgrimage site for both hard-core Star Wars fans and enthusiasts of Maya culture Photo: Alamy

10.10 Ruth Sherlock is in Lebanon, where bad weather and slow download speeds suggest her promising career is now coming to an end. We met once Ruth, in the newsroom, and you seemed like a nice person. Cheerio!

It may not be happening elsewhere, but the apocalypse seems to have arrived in Lebanon. Thunder shook entire apartment blocks in Beirut last night and a rain storm seemed to be tryig to re-fill the sea. Internet seems to be the first thing that will go as the end of the world reaches this Paris of the Middle East (one episode of Homeland has taken more than 12 hours to download). Phone networks also seem to be giving up.

It has been great reporting from here folks, but I fear that my time is up.

09.58 Some dispatches from the world of social media: my colleagueKate Day points out that the most shared video in the UK today is REM's "It's the End of the World". Full marks for imagination, everyone.

Genuine full marks for imagination, on the other hand, to Telegraph trainee Ben Riley Smith.

09.52 Still here.

09.42 A reader has emailed us, an actual one, not made up, called Lloyd Dodd. He has fashion advice for the end of the world. I genuinely didn't make this up.

(I include here in full, but if the end is already underway where you are: smart casual is good, don't dress like a hooker)

Dear Friends, I have been pondering something important recently and was encouraged by a friend to share it with you. With my background in protocol and etiquette I feel that I have sufficient knowledge to speak authoritatively on this topic. This burning question that needs an answer is, of course, what to wear for the end of the world. Yes, I'm sure it has crossed your mind as well and here is my considered opinion on the matter.

Do not over dress. Evening jacket or sequinned cocktail dress is far too pretentious and, let's face it, just not that comfortable. A good rule of thumb is not to wear any outfit that requires a tie or expensive clutch.

Mind you, this option never crossed the minds of most people, but you're not most people now are you? You're the discerning type who likes to make a good impression, just remember that it might look like you're trying too hard if you over dress when meeting your maker. He/She will appreciate it more if you dress in a smart but casual manner.

On the other side of the spectrum are those who intend to meet their maker in a bathrobe and fuzzy bunny slippers. Mind you, God does enjoy the ironic aspects of mankind, but dressing is such a manner shows a lack of respect both for yourself and your Creator.

Your favourite jammies might be comfy, but let's face it, you wouldn't wear them to the grocery store so why would you become one with eternity in them? (If you do wear your pyjamas to the grocery store, or to breakfast in the hotel lobby, please unfriend me now ... right now.)

It's time to grow up and have a little respect for both yourself and the world around you. If you're going to dress like an adult once in your life, I recommend this be the day.

So what should you wear? As stated above, a smart casual look is perfectly acceptable. Blazers and open sports shirts are good for men, but it's always a good idea to just let your spouse dress you. Women should feel free to wear a demure knee-length dress or a nice pants-suit. Sandals are a definite no-no as it's December, I don't care how cute your feet look in them (our Antipodean cousins might have a little more leeway, but I try not to think about their sartorial escapades.) Also heels over three inches are out. You do not want to meet your Lord and Maker looking like a hooker.

Just dress like you're meeting Mitzie and Chauncie at the country club for dinner and drinks and you'll be dressed perfectly for the horror that will be the end of the world.

Best of luck to everyone!

Mr Lloyd Dodd

Thanks Lloyd!

09.40 Ben Lagle tweets me from North Carolina, where it is "pretty vold". Possibly Mayan lingo, don't know.

09.28 David Munk is alive. Our esteemed foreign editor did not come into work today and we natually assumed he'd met his end. But he writes me from Highbury, London:

All well so far in Highbury although a greyish hazey cloud can be seen in distance. Perhaps a sign of something to come?

It doesn't say anything about a greyish hazey cloud on the Mayan calendar, but then it doesn't say anything about the Apocalypse either, and yet here I am, writing all this stuff. I'm still firmly in the believer camp right now.

09.16 Brussels correspondent Bruno Waterfield, is in possibly the safest place on Earth - near Dutchman Pieter Frank van der Meer.




Pieter van der Meer inside his Norwegian lifeboat lying in his garden in Kootwijkerbroek, The Netherlands (EPA/ROBIN VAN LONKHUIJSEN)

No sign of a second Noah’s flood yet here in the Low Countries but Pieter Frank van der Meer is ready for the deluge in the Dutch village of Kootwijkerbroek 14 miles from the sea.

“The Mayans weren't crazy, and if you also look at biblical prophecies, the mountains will melt like wax,” he said.

Mr van der Meer, 67, believes that solar flares generated by a unique alignment of planets at the end of the Mayan calendar will lead to earthquakes and tsunamis, flooding the Netherlands which is below sea level.

Around 35 people have reserved seats in his Norwegian-built life boat which has room for 50 – so he has places left. At the first signs of the approaching apocalypse, he expects his herd of goats to start behaving oddly, his family will board his “ark”.

“I will look at the sky, the sun, and the animals. If the goats start going weird, we take action,” he said.

Passengers include his children and grandchildren. His son Pieter is looking forward to a purer world after the bulk of humanity has been wiped out.

"It can only get better. Now we have natural pollution, abortion, divorce, wars, illnesses…,” he said.

Click here for the full van der Meer experience.

09.13 Frank Fisher, a reader, has sent us this update from somewhere:

Poll: Are Singaporeans least happy?

//OK, Sermon in a Taliban cave 15 minutes from a Predator UAV strike somewhere in Afghanistan - "Pray for our Muslim brothers in Singapore, may they learn from us so that they may be happier"


By Alexandra Hoegberg
December 21, 2012 -- Updated 0652 GMT (1452 HKT)

(CNN) -- Perhaps money can't buy happiness. A recent Gallup report shows that Singapore's wealthy population is the unhappiest -- less happy than the populations of Iraq, Haiti, Afghanistan, and Syria.

Singaporeans were least likely to report having positive emotions-- despite the fact that they enjoy one of the highest per capita GDP values in the world.

The international pollster measured "positive emotions." Carried out last year in 148 countries, the survey asked around 1,000 persons in each country five questions about what positive experiences people had had the day before: if they had been well-rested, treated with respect, if they smiled or laughed a lot, and whether they'd done or learnt something interesting.

In Singapore, only 46% of the interviewed answered "yes" to these questions, compared with 55% reported from people in Haiti and Afghanistan. Even in Syria, where the uprisings that later developed into a civil war took place in 2011, 60% of the people asked answered yes to the survey's questions.

Economists in the United States have found that domestically, income only affects daily happiness when earning up to $75,000 annually. A higher income than that doesn't make much of a difference for American citizens' well-being, Gallup wrote.

The population that reported the most positive emotions was Panama, a country with a per capita GDP ranking 90th in the world. In fact, eight out of the 10 happiest countries in the survey are located in Latin America.

As for Singapore, this is not the first time it has come in last in a Gallup poll.

Last month, Singapore ranked as the least emotional country, which measured the daily emotions of people in 150 countries during a three-year period.

Top 10 happy countries

Panama (85%)

Paraguay (85%)

El Salvador (84%)

Venezuela (84%)

Trinidad and Tobago (83%)

Thailand (83%)

Guatemala (82%)

Philippines (82%)

Ecuador (81%)

Costa Rica (81%)

10 least happy countries

Singapore (46%)

Armenia (49%)

Iraq (50%)

Georgia (52%)

Yemen (52%)

Serbia (52%)

Belarus (53%)

Lithuania (54%)

Madagascar (54%)

Afghanistan (55%)

Thursday, December 20, 2012

Israel's Illegal Settlement Activities in the oPt



//Of course Israel will play on its own terms. Would you pacify the rest of the international community when your live in a hostile neighbourhood? UN should stop acting horrified to know Israel is doing what it is doing.


Turkish Ministry of Foreign Affairs said in a press release that Israel's approval to construct 1,500 new units in the Ramat Shlomo settlement as well as its initiation of the planning process to build in total 5,000 new units in the Givat Hamatos and Gilo settlements constitute the latest example of this country's provocative steps despite the repeated calls and warnings of the international community.

The Ministry strongly condemns this policy of Israel which destroys deliberately the grounds for a lasting and just peace in the region through its illegal settlement activities that trample on the international law.

Israel aims to alter the historical, human, cultural and religious fabric of the Palestinian territories, notably East Jerusalem, through settlement activities pursued unceasingly in the occupied Palestinian territories and other practices that are contrary to international law. Israel must understand that it will never achieve its desired objectives by pursuing unilateral policies. We call upon Israel to fulfill its obligations in accordance with the international law for a lasting peace in the Middle East and to put an end immediately to all of its activities destroying the grounds for peace.

The Ministry calls upon the international community once again to take the necessary measures against the unilateral illegal activities of Israel destroying the two-state solution perspective.

Turkey will continue to stand by the people of Palestine against Israel's unlawful practices which are contrary to the international law.

'Biggest appeal ever' for Syria


//It's inhumane, but the truth is, THERE WILL BE PEOPLE LEFT BEHIND. Get real, only 1 pair of animals got to get into Noah's Ark, are you going to blame God for it?



The United Nations (UN) wants to raise almost a billion pounds to help those affected by the ongoing fighting in Syria.

It's the "largest short-term humanitarian appeal ever", they say.

The UN's job is to bring different countries together to work for peace.

It's thought more than 40,000 people have been killed in Syria since the conflict began in March 2011 - and hundreds of thousands made homeless.

The fighting in the country is between President Bashar al-Assad's government and rebel forces who want him out.

Life has been very hard for people there since the fighting began.
Food, shelter and medicines are needed

The United Nations have launched their latest appeal to try and help the million people expected to have fled across Syria's borders by mid-2013.

More than 525,000 Syrians have already crossed into neighbouring countries.

UN officials said they would need to provide food, shelter, medicine and even schools for them over the next year.

They're also hoping to provide aid to a further four million people inside Syria, half of whom have been forced to leave their homes.

Watch Ricky's report about what life is like for people living in Syria.

Jackie Chan - confirmed to be part of 'Expendables 3' cast


//I have looked at Jackie Chan's face with admiration in the 70s and 80s, and then with disgust in the 90s till today. Why are not these senior citizens moving along and giving way to fresh faces and talent, and hogging the traffic? 

The most sickening thing is that people like Jackie Chan confuse their popularity and wealth with intellect. Someone please remind him that he is rich because he can act and jump like a monkey, not because he is intelligent. Those pretty young things that keep on appearing in his movies and cuddled up or willing to give up their lives for him are a figment of his wet dreams that his is yet to wake up from. No wonder he can't stop wanting to be a director of his own movie. Spare us all the horror of watching you, Jackie Chan!




Jackie Chan confirmed to be part of 'Expendables 3' cast

Posted Dec 20, 2012 by Can Tran
At a press conference in Kuala Lumpur, international martial arts actor star Jackie Chan has confirmed to be part of the cast of "Expendables 3."

Jackie Chan at the premiere of the remake of "Karate Kid."
The film series “Expendables” has brought forth an ensemble cast of notable action superstars together. To many, the Expendables is pretty much a dream-up of various action and martial arts actors coming together. In the first film, you had notable Hollywood action veterans such as Sylvester Stallone, Arnold Schwarzenegger, and Bruce Willis. It brought forth other veteran and newcomer actors such as Jet Li, Dolph Lundgren, Jason Statham, Terry Crews, Mickey Rourke, Randy Couture, and Stone Cold Steve Austin. It also brought along international martial arts actor Gary Daniels.
In “Expendables 2,” martial arts actors Chuck Norris and Jean-Claude Van Damme were signed as part of the cast. While they were trying to get international martial arts actor Jackie Chan on board, he had other scheduled commitments.
Those that wish to see Jackie Chan in a future Expendables movie may get their wishes granted. Chan was at a press conference in Kuala Lumpur to promote his latest film called “CZ12” also known as “Chinese Zodiac.”


At the conference, Chan talked about Stallone inviting him to join the cast for Expendables 2 but couldn't take him up on it because of scheduling conflicts. But, Chan told reporters that Stallone extended the invitation for the Expendables 3. With Expendables 3 combined with other film projects, Chan has his work cut out for him. In short, the international martial arts superstar will be joining the cast of the Expendables 3.
This is due to an agreement that Chan will not have a minor role. With Chan's involvement, it's supposed to be a buddy-buddy movie. It Jet Li does return for Expendables 3, it'll be the second film that Chan and Li have worked on together since “Forbidden Kingdom” back in 2008. Also, actor Nicolas Cage is confirmed to be part of the Expendables 3 cast.


Read more: http://www.digitaljournal.com/print/article/339462#ixzz2FajDARjQ

Buffett’s Wells Fargo Bet Helps Berkshire vs. S&P 500

//the astute investor can't rely on buffett anymore. He is no different from investing in the index.


Buffett's Wells Fargo Bet Helps Berkshire vs. S&P 500

Berkshire Hathaway Inc. (BRK/A)'s stock portfolio is benefiting this year from Chairman Warren Buffett's bet on Wells Fargo & Co. (WFC), the home lender that has rallied 24 percent since Dec. 31.

Wells Fargo has averaged about 17 percent of Berkshire's U.S. equity investments this year, according to data compiled by Bloomberg. That compares with about 1.4 percent in the Standard & Poor's 500 Index. The gain in the bank's shares has buoyed the portfolio as other investments, such as a holding in International Business Machines Corp. (IBM), have trailed peers.

Buffett's "point is that if you are going to be in financials you need to be selective," said Matt McCormick, who helps oversee $6.5 billion as a fund manager at Bahl & Gaynor Inc. in Cincinnati. "You really have to do your homework, you really have to be selective, and when in doubt go for quality."

Buffett, 82, oversees most of Omaha, Nebraska-based Berkshire's equity portfolio, valued at about $90 billion, including the largest stakes in IBM and Coca-Cola Co. (KO) He bets he can beat the market by focusing on stocks he knows well, buying at prices that include a margin of safety should the investments falter and holding stakes for many years.

"That's a proven way to maintain a competitive advantage in this crazy business, where people judge their performance on a daily basis and do stupid things as a result," said Jeff Matthews, a Berkshire shareholder and author of "Secrets in Plain Sight: Business & Investing Secrets of Warren Buffett."

Berkshire's Returns

Berkshire's portfolio returned 13.9 percent this year including reinvested dividends through Aug. 28, based on an analysis of securities filings that list holdings on the last date of each quarter. That compares with 13.7 percent for the S&P 500. The firm's performance beat the benchmark last year by 4.4 percentage points, matched in 2010 and fell short by about 6.9 percentage points in 2009, data compiled by Bloomberg show.

Buffett, the second-richest person in the U.S., said at the 2007 meeting of Berkshire shareholders that he thinks his portfolio can beat the S&P 500 by "a couple percentage points" over most long-term periods and that he would be "amazed if it did better than that."

The billionaire has highlighted the challenge of finding outsized returns as his company gets larger. Stock picks and acquisitions helped build Berkshire into a firm valued at more than $200 billion with dozens of operating subsidiaries selling products from insurance to underwear.

"Reasonable return is good enough," Buffett said in a 2009 interview with Charlie Rose on PBS. "Fifty years ago I was looking for spectacular returns, but I can't get them" as the company generates larger sums to invest, he said.

Performance Slips

Berkshire's performance against the S&P 500 has slipped even according to Buffett's favorite metric, book value per share. The measure of assets minus liabilities, which Buffett says most closely indicates a firm's value, trailed the index four times in the 10 years through 2011 after lagging behind just four times in the previous 37.

Financial-services stocks accounted for more than half of Berkshire's total return this year through Aug. 28. A stake in American Express Co. (AXP), which has climbed 22 percent since Dec. 31, added to the gains on San Francisco-based Wells Fargo.

Buffett didn't respond to a request for comment sent to an assistant.

Buffett, who has increased Berkshire's holdings in the home lender for seven of the last eight quarters, praised the company's mortgage operation and push into investment banking in an interview with Betty Liu on Bloomberg Television last month.

Spreading Risk

While Buffett concentrates his portfolio in a few dozen stocks and had no common equity holdings as of June 30 in some S&P groups, such as telecommunication services and materials, he has said he avoids taking too much risk in a single industry. Berkshire hasn't bought stock in JPMorgan Chase & Co. (JPM), even as Buffett took a personal stake in the company and has praised Chief Executive Officer Jamie Dimon.

"There's a limit to how much I would want in banks compared to the whole portfolio" at Berkshire, he told Liu in explaining why his firm holds Wells Fargo among the largest U.S. lenders. "I like loading up on the one I like best."

Information-technology stocks were the biggest contributor to the S&P 500's return this year, data compiled by Bloomberg show. The gain was led by a surge in Apple Inc. (AAPL), a stock Berkshire didn't own as of June 30. Buffett's investments in the group were mainly in IBM, which returned 7.3 percent this year through Aug. 28 compared with the 21 percent gain in the group.

IBM Investment

Berkshire began accumulating its IBM stake last year in a bet that the world's largest computer-services provider will grow as it develops its business globally. The Armonk, New York- based company has benefitted shareholders through buybacks and built a reputation for helping companies around the world develop IT departments, he has said.

Weakening demand in China may pressure IBM's revenue, Mark Moskowitz, an analyst with JPMorgan, said in an Aug. 24 note to clients. Still, the company's "customer base is full of steady spenders," he said.

Berkshire's portfolio consists of a larger percentage of consumer-staples stocks than the S&P 500 as Buffett bet that global brands like Coca-Cola's namesake beverage and Procter & Gamble Co. (PG)'s Gillette razors will continue to appeal to shoppers. That strategy helped in 2010, and has hurt performance in 2011 and so far this year.

Buffett pared holdings of consumer stocks including P&G and Kraft Foods Inc. (KFT) in the second quarter. The company also sold part of its stake in Tylenol-maker Johnson & Johnson, which is grouped with health-care stocks in the S&P 500.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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CNBC.com Article: California to Gun-Investing Funds: Drop Your Firearms

//this is one of the stupidest thing I have heard. Lockyer thinks divesting is economic leverage? You're just selling your shares cheap STUPID!



CNBC.com Article: California to Gun-Investing Funds: Drop Your Firearms

"I want BlackRock, I want Credit Suisse, I want everyone else to know that we're going to use our economic leverage if it's up to me—and I hope I'll be persuading others," said California Treasurer Bill Lockyer. "I hope other pension funds, I hope other private investors will do the same thing," he says. "These are illegal weapons in a lot of our states."

Full Story:
http://www.cnbc.com/id/100328983

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