Tuesday, December 23, 2008

Hot News : Dead body of access international advisors.

Madoff investor found dead of suicide
NEW YORK (AP) — Police say the founder of an investment fund that lost $1.4 billion with Bernard Madoff was found dead Tuesday after committing suicide at his Madison Avenue office.

The New York Police Department says Rene-Thierry Magon de la Villehuchet was found sitting at his desk with both wrists slashed. NYPD spokesman Paul Browne also says officers discovered a box cutter near him on the floor and a bottle of sleeping pills on the desk.

Madoff is accused of running a $50 billion Ponzi scheme that wiped out investors around the world, with big funds like de la Villehuchet's fund being especially hard hit.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

NEW YORK (AP) — The founder of an investment fund that lost millions with Bernard Madoff was found dead Tuesday at his Madison Avenue office of a possible suicide, authorities said.

Authorities found the body of Rene-Thierry Magon de la Villehuchet just before 8 a.m. at his office of Access International Advisors, located on Madison Avenue a couple of blocks from Rockefeller Center.

A French newspaper is reporting that the 65-year-old de la Villehuchet committed suicide. The New York medical examiner spokeswoman says it has not determined the cause of death yet.

Madoff is accused of running a $50 billion Ponzi scheme that wiped out investors around the world, with big funds like de la Villehuchet's $1.4 billion Access International Advisers being especially hard hit.

A former business partner said that de la Villehuchet came from a long line of aristocratic Frenchmen, with the Magon part of his name referring to one of France's most powerful families.

His fund enlisted intermediaries with links to the cream of Europe's high society and jet set to garner clients. Among them was Philippe Junot, a French businessman and friend who is the former husband of Princess Caroline of Monaco.

De la Villehuchet, the former chairman and CEO of Credit Lyonnais Securities USA, was also known as a keen sailor who regularly participated in regattas and was a member of the New York Yacht Club.

He lived in an affluent suburb in Westchester County with his wife. There was no answer Tuesday at the family's two-story house, which has a majestic view of a pond.

"He's irreproachable," said Bill Rapavy, who was Access International's chief operating officer before founding his own firm in 2007.

De la Villehuchet's death came as swindled investors began looking for ways to possibly recoup their losses. Hedge funds, which lost big to Madoff, are also coming up against investor lawsuits, since they had a fiduciary responsibility to protect their clients.

A handful of lawsuits have already been filed, all claiming that the hedge funds failed to properly vet Madoff and overlooked some red flags that could have steered them away.

Associated Press Writers Rachel Beck and Joe Bel Bruno in New York and Jim Fitzgerald in New Rochelle, N.Y., contributed to this report.

Reference : AP


Monday, December 22, 2008

Asia is locate next from USA

beachThis word is not over, because nowadays after financial crisis in USA we can see the Tsunami (or more) effect around Asia I think it seem like Asian country is locate next from USA. Asian is catch the eye on them all the time in the american election Asian are expect the next president of United-states about Foreign Policy of Obama
Asian hope to not get painful from the trouble they are not set up. From my past report about Asia Forecast Econiomic Growth in 2009 and ther are all well know next year is "real worse". American are concern about How Asia Should Respond to the Financial Crisis

The wave effect is come fast.


Hot News : Sea-Tac flight delays

airport usaA snow and ice storm has stranded hundreds of travelers at the seatac airport Portland airport and the city's bus and train stations.By the end of Sunday, nearly 400 flights were canceled at Portland International Airport. Many travelers were forced to camp out on the carpet."We aren't getting out," said Jerod Brown, who was at the seatac airport Sunday evening. "The earliest is December 25th -- Christmas Day -- in the evening."At the Greyhound bus depot, more than 200 people stayed the night after all bus routes were canceled Saturday.

Many travelers said they were upset with the conditions inside the depot."People are hungry, people have run out of money and people need to go see their families," said Darryn Fleming. "People want refunds so they can find
another means of transportation, but they won't refund the money."There's no word on when Greyhound buses will resume regular routes.To check flight status, visit flypdx.com.Winter weather is also canceling or delaying Amtrak service in the Northwest. Amtrak had hoped to resume Amtrak Cascades service Monday between Eugene and Vancouver, British Columbia, but canceled it because of infrastructure issues reported by Burlington Northern Santa Fe. Amtrak said passengers on other routes should expect significant delays.Passengers are urged to

check train status by calling 800-USA-Rail
or clicking online at amtrak.com.
Check Flight Delays here thenewstribune.com

reference : kptv.com


Friday, December 19, 2008

Bush Car and Tom Yam Kung Crisis

Bush Postpones Decision on TARP for Auto Makers Big direct effect of US financial crisis hit the carmaker they are big enough to negotiate with there goverment
Auto bail out toppic, It is the talk of the world is prople wait to hear good way to slove this problem

The Big Three US carmakers are waiting for the US government to find a way to help the struggling car industry.

Chrysler is to halt production at all 30 of its factories for one month.

GM has suspended major work on its $370m engine factory in Michigan
Last week, GM said it was shutting down 30% of its North American production.

Ford announced on Wednesday it was to extend the normal two-week Christmas shut-down at 10 of its North American plants for an extra week.
Detroit's carmakers employ nearly a quarter-million workers, and more than 730,000 others produce materials and parts for cars. If one of the automakers declared bankruptcy, some estimate as many as 3 million U.S. jobs could be lost next year.

Finally Pressident Bush alow on Auto Bailout Plan.
You can see Bush Car video from CNBC video here

‘Necessary Step’
President-elect Barack Obama endorsed the plan, calling it a “necessary step” to avoid a major blow to the economy.
“The auto companies must not squander this chance to reform bad management practices and begin the long-term restructuring that is absolutely required to save this critical industry,” Obama said in a statement.

This issue you have to to get your own answer what is right or wrong about Bush Car and Tom Yam Kung Crisis

I heard from some opinion of academician in Asian they said this is Dubble Standdard if compare with what IMF did with Asian when Business was melt down in 1997 Asian financial crisis

Read more at Bitter Asians wag the finger at U.S. bank bail outs

More info about Chrysler | GM | Ford


Asia Forecast Econiomic Growth in 2009

Collected of the journal about economic growth 2009 forcast around Asia from many website.
We can see sketchily movement of each country from the data make me preparing the plan to invest in next year.

Japan forecast zero growth
forecast zero growth for the year to March 2010For the year to March 2009, the government now forecasts the nation's GDP to shrink a real 0.8 per cent, reversing its earlier estimate of 1.3 per cent growth.

less than expected in China's nextyear
China's economy is expected to grow by 10 percent in 2009,forecasted China's economic growth would accelerate largely at the second half of next year.BBC report about China's economy will grow by less than expected in next year, from last articles we can see the expects Car's sales in China.
A few months ago, before the global financial crisis, it predicted the Chinese economy would grow by about 9% After the financial crisis China's economy is expected to grow by 7.5% in 2009

Thai economic growth 0.2-0.5%
IMF cuts Thai economic growth 0.2-0.5% for 2008 & 2009
It predicted Asian economic growth will slow from last year’s 7% to 6% before a recovery begins in late 2009 when IMF pegged Asia’s overall GDP at 4.9%.
For Thailand, it has slashed this year’s expected economic growth rate from 4.7% to 4.5%.

Singapore GDP contracted by 0.6%
economy could contract in 2009, after weaker than expected third-quarter GDP figures
Next year, the city-state expects its GDP to range between a contraction of 1.0 per cent and growth of 2.0 per cent
Singapore's Ministry of Trade and Industry (MTI) said Singapore's GDP contracted by 0.6 per cent in year-on-year terms.

3% in Korea
Yahoo News and The Korea Heraldreport about 2009 economic growth slowing and The Samsung Economic Research Institute forecast a 3.2 per cent GDP growth for next year

Indonesian economic growth forecast at 6.2%
ANTARA News report, Indonesian President ANTARA News report, Indonesian President Susilo Bambang Yudhoyono unveiled Friday a draft state budget for the fiscal year 2009, forecasting economic growth of 6.2 per cent.

Malaysia expects 2009 economic growth of 5-6 pct
Malaysia's central bank has forecast growth of 5 to 6 percent this year, from a three-year high of 6.3 percent in 2007


Monday, December 15, 2008

Mega Mall

We know about a lot of Mega Mall opened in past few year before subprime in USA and effected around the globe.

We heard about one of Dubai Mall In United Arab Emirates.
The mall is situated at the foot of Burj Dubai (Dubai Tower) already the tallest building on earth at around 700 meters (2,300 feet) and still under construction. Dubai Mall, whose projected 1,200 stores and scores of entertainment outlets are billed as the biggest shopping centre in the Middle East and one of the largest Mega mall in the world.

Project owner Emaar Malls, a subsidiary of the giant Dubai-based property developer Emaar (Dubai-based Public Joint Stock Company and one of the world’s largest real estate companies), is optimistic about the viability of the shopping centre, which is part of a 20-billion-dollar project. But some economists have questioned whether the developers of Dubai Mall can meet their target of 30 million visitors in the first year amid the global economic gloom.

In South east Asia we can focusing it to SM Megamall in Philippine claimed to be the world’s third-largest shopping centre and Siam Paragon in Thailand claim largest in Asia. Both are claim there are the one of world’s largest shopping centre. from this report of Philippine mega mall expands. It seem like in Asian people like to go shopping more than European ? or may be because e-commerce In Asian is not success as we know Amazon or eBay in western world ?

- ASI report


Chinese tourist arrivals expected to double with daily charters

Taipei The number of Chinese tourist arrivals to Taiwan is likely to double to 600 per day following Monday's opening of direct daily charter flight services between the two sides, according to the results of research by the Ministry of Transportation and Communication (MOTC).
As more direct routes will be adopted for the daily cross-Taiwan Strait charter flights from Dec. 15, passengers will be able to save on both cost and travel time from that day, the MOTC said.

The daily charter services will connect Taiwan to 21 Chinese destinations scattered across China, including Chengdu, Chongqing, Hangzhou, Dalian, Shenzhen, Tianjin, Kunming, Qingdao, Haikou and Shenyang.

According to tour operators, the reduced travel time will be the greatest advantage in the new measures.

From Monday, a trip on the new Taipei-Shanghai route will take only 90 minutes -- one hour less than the present route that has to go through the Hong Kong flight information zone, tour operators said. This will also help reduce the time of a flight between Taipei and Beijing to two hours and 50 minutes from the present three hours and 35 minutes.

At the same time, the number of the two-way charter flights per week will rise from 36 to 108, bureau officials said. Currently, some 90 percent of the passengers are Taiwanese businessmen, so seats will need to be added to meet tourism demand between the two sides, they noted.

The increased flights and destinations will also help attract a larger number of Chinese tourists, they contended.

The MOTC Tourism Bureau forecast that an average of 600 Chinese tourists will come to Taiwan for sightseeing per day aboard the direct flights, double the current daily number of 300.

Since the direct cross-strait charter flights on weekends have been implemented from mid-July, a total of 32,973 tourists from China had visited Taiwan as of early November, an average of some 300 per day, according to bureau statistics.

Some 55 percent of the total, or 18,184 people, flew into Taiwan aboard weekend charter flights from five Chinese cities -- Beijing, Shanghai, Nanjing, Guangzhou and Xiamen -- the tallies indicate.

Taiwan and China inked two landmark accords in June in Beijing to allow Chinese tourists from 13 provinces and cities to visit Taiwan and to establish the direct weekend charter flights.

The two sides expanded the scope of the two pacts during talks in Taipei in November, allowing Chinese residents from more cities and provinces to make pleasure trips to Taiwan and expanding the weekend charter flights to a daily service.

12/14/2008 (CNA)

Reference : taiwanheadlines.gov.tw


Abhisit Vejjajiva, Thai Prime Minister

This is Quote from Time Magazine in 1997

Abhisit resembles a certain heavyweight from the U.S. Democratic Party. But there's one big difference: unlike Bill Clinton, Abhisit didn't grow up in trailer-park country.

NowadaysAbhisit Vejjajiva,is Number 44 of thai prime minister

Early life and education
"Mark" is his nickname, he was born into an elite family in Newcastle upon Tyne. He is well educated After studying at Chulalongkorn University’sDemonstration School, he transferred to Scaitcliffe School (now Bishopsgate School) and Eton College, Abhisit was admitted into St John's College, Oxford, where he graduated with a Bachelor’s degree (first class honours) in Philosophy, Politics and Economics. He taught briefly at Thailand's Chulachomklao Royal Military Academy, but returned to Oxford to pursue a Master’s degree in Economics. He then became a lecturer in the Faculty of Economics at Thammasat University. He also earned a Bachelor degree in Law from Ramkhamhaeng University in 1990.
He has great composure and manners, and is an eloquent speaker with strong debating skills.

Entry into politics
Abhisit became Opposition leader after the 2005 election. On his website he says his outstanding achievement was the no-confidence debate on the purchase of the CTX (explosive-detection device) for Suvarnabhumi Airport. He was a Prime Minister's Office Minister handling education reform, bureaucratic reform, and created mechanisms for anti-corruption policies.

Abhisit Vejjajiva and the Democrat Party have been criticised as being backed by the military. They have also been criticised as beneficiaries from the coup against its main opponent - the disbanded Thai Rak Thai Party.
Abhisit's ability to bridge the rural-urban divide is also in question as the Thai Rak Thai's popularity in the North and the Northeast is very strong. His ability to lead veteran politicians in a coalition government is also uncertain.

December 2007 election
The Democrat Party was left in the opposition after the December 2007 parliamentary election, as Samak Sundaravej of the People's Power Party was able to form a six-party coalition. In a parliamentary vote on January 28, 2008, Abhisit was defeated by Samak for the post of Prime Minister, receiving 163 votes against 310 votes for Samak.

Following the removal of prime minister Samak Sundaravej in 2008, Abhisit lost the National Assembly of Thailand vote for Prime Minister of Thailand by 163 votes to 298 for Somchai Wongsawat.On December 2, 2008, the Constitutional Court of Thailand decided to ban the three parties including the PPP, which dissolved the governing coalition. The Court also banned Somchai and removed him from office; he was succeeded by a deputy. When it became clear that another government under the For Thai Party or Puea Thai (the successor of the PPP) was not a viable option the remainder of the Chart Thai Party under Sanan Krachonprasat the Thais United National Development Party and Neutral Democratic Party, almost all except for the Royal People Party decided to back a Democrat led coalition thereby endorsing Abhisit as the next Thailand Prime Minister.Abhisit even gain some supporters from the PPP including about 37 MPs from a PPP faction called "Friends of Newin" (as in Newin Chidchob), thereby securing a majority to form a governing coalition.On December 7 the various parties held a press conference endorsing Abhisit and a Democrat led government.
Finally Abhisit Vejjajiva He was officially named the new prime minister of Thailand after winning a special vote in parliament on December 15, 2008.

- ASI report
- 12/16/08

Reference: TIME


Sunday, December 14, 2008

Former S Korean chairman cheered

HA NOI — National Assembly Chairman Nguyen Phu Trong applauded contributions made by former NA speaker of South Korea Lee Man Sop to boosting the friendship and multi-faceted co-operation between the two countries.

While receiving the former South Korean legislator in Ha Noi yesterday, chairman Trong expressed his delight at the development of the ties between the two countries in various fields, including politics, economy, culture, education and tourism.

He said around 25,000 Vietnamese brides and 45,000 Vietnamese workers were living and working in South Korea and thousands of Vietnamese tourists visit South Korea each year, serving as a tool to strengthen the link between the two countries.

Trong said he was impressed at the great achievements made by South Korean Government and people in the national construction and development process during his visit to South Korea in March this year.

For his part, Lee Man Sop expressed his delight at the rapid and comprehensive development of Viet Nam in recent years.

He said he believed that under the leadership of the Party and State, Viet Nam would continue gaining new achievements in the future.

He expressed his thanks to Viet Nam for its support to the peace process on the Korean Peninsula.

The former South Korean top legislator praised contributions made by the Vietnamese community in South Korea to the socio-economic development of the country, and expressed his belief that the two countries’ co-operation would be lifted to a new level in the near future. — VNS

Reference : vietnam news


Saturday, December 13, 2008

Alibaba To Invest CNY300 Million In Yahoo Koubei

December 12, 2008

Chinese e-commerce giant Alibaba has announced plans to invest CNY300 million in the newly merged Yahoo (YAHOO) Koubei Company in 2009 to develop the lifestyle services business of the company.

A representative from Alibaba told local media that Yahoo Koubei's development strategy is to further focus on the e-commerce areas of lifestyle services to provide Chinese consumers with a platform with the lifestyle service market as its core and Yahoo's social networking site website Yahoo Relations as its support.

In the future, Yahoo Koubei will be mainly engaged in lifestyle services and will play down Yahoo's former businesses like news and search services. This is the key focus of the company which was set during the merger of Yahoo and Koubei.com.

The representative adds that there will be personal adjustments in the company. Although it is unclear whether the company will cut staff or not, some employees, who originally worked in Beijing, will be transferred to Hangzhou, and some worked in Hangzhou will be working in Beijing in the future.

Shen Jianming, vice president for Alibaba Group and vice president for Yahoo China, just resigned her positions and officially departed from Alibaba Group. Shen says she left Alibaba Group for personal reasons. She says her departure is partly because Yahoo China shifted its focus to Koubei.com after it acquired the website and she was asked to work in Hangzhou to manage Koubei.com. However, she does not want to leave her family in Beijing, so she put forward her resignation a month ago.

Reference : china technews


Friday, December 5, 2008

It could be worse than sars, tsunami

The tourism industry could well be even harder hit by the closure of Bangkok's two airports than by either the Sars epidemic of 2002-2003 or the 2004 tsunami disaster, according to JPMorgan Securities (Thailand).

The company yesterday released its research on impact assessment of the airport closures and the political demonstrations, saying that Thailand's tourism receipts account for almost 9 per cent of overall current-account receipts and are equal to about 6.5 per cent of gross domestic product (the third-highest in emerging Asia).

Meanwhile, 6 per cent of the labour force - 2.42 million individuals - are directly employed in the sector.

Assessing the potential macro impact of a tourism slump during the high season period from November to March, JPMorgan notes that annual tourism-related revenue has a large seasonal bias in the first and final quarters. The quarterly GDP growth series in the graphic highlights the impact of previous tourism downturns during the Sars crisis (2002-2003) and the post-tsunami period (2005).

The company said the current situation could potentially have a larger impact than either of the two prior episodes, as travel normalised rapidly after the Sars outbreak came under control, while tourism flows were diverted from the tsunami-hit South towards other regions of Thailand, mitigating the overall impact.

The current occupation and closure of the two Bangkok airports prevent access to a large number of long-haul travelers who transit through Bangkok to other provinces, while access via the direct Asian flights to Phuket, Samui and Chiang Mai may be spurned by Asian visitors wary of the security situation.

Assessing the impact on the corporate sector, JPMorgan sees the direct impact primarily in services-related activities such as hotels and restaurants, and exporters of perishable products/electronics (that rely on air freight), with indirect impact on the banking and retail sectors.

Tourism revenues will be hit hard. The ensuing travel advisories from various countries could take the occupancy rates of the four- and five-star properties to a far lower ratio than the depressed 50-per-cent level of late.

Food manufacturers will also be hit. The sector will be

negatively affected via a slowdown in the restaurant services sector.

Reference : Picture by Agron


Tuesday, December 2, 2008

Coca-Cola's takeover the Huiyuan Juice Group

BEIJING: The Chinese government is conducting an anti-monopoly review of Coca-Cola's multi-billion-dollar takeover bid for the Huiyuan Juice Group, the two companies said in a joint statement on Tuesday.

"The application under (China's) Anti-Monopoly Law has been submitted to the Ministry of Commerce. The approval process is progressing and we are working in full cooperation with the Ministry of Commerce," said the statement.

Coca-Cola announced in September plans to buy Hong Kong-listed Huiyuan, which controls more than 40 per cent of the Chinese market for pure juice, for 2.4 billion dollars.

If approved, it would be Coca-Cola's largest attainment in China and, according to analysts, the biggest-ever foreign takeover of a Chinese firm.

The anti-trust review is required by Chinese rules as the combined global turnover of the two firms was more than 10 billion yuan (1.5 billion dollars) in 2007, and as they each made over 400 million yuan in China.

The commerce ministry has said it would review the takeover according to the principles of a market-oriented economy.

Analysts have said the planned deal is a litmus test of China's anti-monopoly law that took effect in August.

The bid has until March 23 to pass the review, according to the statement.

- AFP/so
Photo by :china.sixty4


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