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- A + A (Aug 9): China’s top auditor is conducting a review of the US$3 trillion trust industry, paving the way for a potential overhaul of a key shadow banking sector where losses on property loans are mounting. In an unscheduled move, the National Audit Office — which previously led an examination of bank exposures to Jack Ma’s Ant Group Co — has for the past month been inspecting the books of at least 20 trust firms, including the top five, to gauge the risks they pose to financial stability, according to people familiar with the matter. The firms are being asked to report on their risky loans to developers and any plans to dispose of them, the people said, asking not to be named as they’re not authorised to speak publicly. The audit office is expected to submit its conclusions to policy makers in Beijing, who may decide on the future reforms of the sector, the people said. While it is unclear what regulatory action the scrutiny will spur, the move illustrates … [Read more...] about China orders surprise audit of US$3 trillion trust industry

To become truly successful at licensing your new product ideas, you must know the industry you're inventing for like the back of your hand. There's no better way of getting to know an industry than by attending its annual trade show. Between the cost of transportation, lodging, and food, it's true that expenses quickly add up. Plan ahead, because there are numerous benefits. In my opinion, these are among the most significant. 1. The inspiration you receive from checking out the new innovation. I can almost guarantee that you will walk away with new ideas for products. Trade shows are exhilarating! You will feel reenergized. 2. Face-to-face meetings. When you can connect with people in your industry with the click of a button over LinkedIn, does meeting in person still have value? Even more, I'd argue. If your goal is to build a long-term working relationship that benefit both parties, there is simply no replacement for shaking someone's hand and looking them in the … [Read more...] about 7 Reasons Product Developers Should Attend Trade Shows

Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.

Share to Twitter Share to Linkedin An investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners completed the acquisition of online diamond and jewelry retailer, Blue Nile, Friday for $40.75 per share in cash, the Seattle-based company said in a statement. A Securities and Exchange Commission 8-K document said the “total amount of funds used to complete the merger and related transactions and pay related fees and expenses was approximately $520 million.” The transaction was first announced on Nov. 7, 2016 , and was approved by Blue Nile's shareholders on February 2. Trading in Blue Nile’s common stock on NASDAQ will end February 21. “Blue Nile has disrupted and transformed the way consumers shop for and purchase diamonds and fine jewelry by creating price transparency while simultaneously providing value to suppliers,” said Blue Nile chairman, CEO and president Harvey Kanter. “As we enter the next phase of growth, Blue Nile will … [Read more...] about Blue Nile Acquisition Completed, Company To Go Private

Overhauling Denver’s campaign finance rules was popular with voters in 2018. More than 70% of Denverites who cast ballots that year voted for Referred Measure 2E. The sweeping change to the city’s campaign rules ratcheted down contribution limits for candidates seeking every seat from mayor to the city auditor, banned direct corporate and union campaign contributions and established a fair elections fund to provide public financing for candidates who agreed to abide by even lower contribution limits and other rules. Participate in the fair elections fund and receive a 9-to-1 public funding match on contributions from Denver residents between $5 and $50. In other words, a $50 donation becomes $500 with taxpayer money so long as the donor hails from the city and county. A lot has happened since then. First, the measure’s backers struck a deal with the City Council to delay the law’s effective date until after the 2019 municipal election instead of trying to enact the changes … [Read more...] about In crowded city races, Denver’s new fair election fund will face first test

By ILAN BEN ZION JERUSALEM (AP) — Israeli troops killed three Palestinian militants and wounded dozens in a shootout that erupted during an arrest raid in the city of Nablus in the occupied West Bank on Tuesday. The shootout came a day after a cease-fire ended three days of fighting between Israel and the Palestinian Islamic Jihad militant group in the Gaza Strip. Israeli police said security forces encircled the home of Ibrahim al-Nabulsi, who they say was wanted for a string of shootings in the West Bank earlier this year. They confirmed that al-Nabulsi and another Palestinian militant were killed in a shootout at the scene, and that troops found arms and explosives in his home. The Israeli military said that troops came under attack from Palestinians throwing rocks and explosives, and that soldiers responded with live fire. It confirmed Palestinians were shot, but did not elaborate on their condition. The Palestinian Health Ministry said three people were killed — … [Read more...] about Palestinians: Israeli troops kill 3 militants in West Bank

Tan Sri Shahrir Ab Samad (The Edge filepix by Zahid Izzani) - A + A KUALA LUMPUR (Aug 9): The High Court here on Tuesday (Aug 9) heard that Taman Kebun Teh UMNO branch in Johor had received a cheque worth RM10,000 from former Felda chairman Tan Sri Shahrir Ab Samad for the expenses of a football tournament, nine years ago. Its deputy chief Abu Bakar Abd Aziz, 72, said the donation was deposited into the Maybank Islamic account, which is the official account of the branch, on Dec 10, 2013. "On Dec 13, 2013, a cheque worth RM7,000 was issued to Mohamad Danial Zainal Abidin who is the Taman Kebun Teh UMNO Youth chief for the expenses of the YB Tan Sri Shahrir Hj Ab Samad Football Tournament," Abu Bakar said, adding that he had applied for the donation himself because Shahrir is the Johor Bahru UMNO division chief. He said this when reading his witness statement at the trial of the former Johor Bahru MP, who is charged with failing to declare RM1 million which he … [Read more...] about Taman Kebun Teh Umno branch received RM10,000 contribution from Shahrir, says witness

Share to Twitter Share to Linkedin It seems that just about everyone was in Mauritius at some point—Arabians in the 10th century, followed by the Malays and then the Portuguese, who named it Ilha do Cerne (“Island of the Swan”) but didn’t stick around. The Dutch colonized it, until that failed and the French moved in and named it Isle de France. After a war, the British had a turn until the country became independent in 1968. And while it doesn’t have an easy past (the colonists imported and enslaved much of the population, then enticed Indians essentially as indentured servants), the result of all that history today is a fascinatingly multicultural island. Everything seems to be a blend of European, African, Asian and Creole influences. The island is also an exclusive one, says Ashwin Cahoolessur, an officer at the Mauritius Tourism Promotion Authority. There are no low-cost flights, and some 50 of the island’s 101 hotels have five stars. He continues that … [Read more...] about 9 Reasons To Love Mauritius Now