Lichi Wu: I’m a mobile monetization whiz at Millennial Media. Ask me anything

Lichi Wu is the director of global monetization solutions at Millennial Media, a publicly-traded global mobile ad platform. He helps publishers and developers monetize their mobile apps and sites effectively. Prior to Millennial Media, Lichi worked for Google in the US and Singapore and was part of AdMob APAC’s landing team. He also spent two years working at Singapore startups. Mobile ad monetization may sometimes feels like a mystery. There are companies who made their fortune via in-game purchases. But for every success story there are likely thousands of failures. And then there are reports that the mobile advertising market is skyrocketing. Advertisers from global brands to local names are increasingly spending boatloads of advertising dollars on mobile. It’s estimated that the mobile advertising spend will be US$18 billion in 2014 and around US$42 billion in 2017. Ultimately, a big chunk of that goes to publishers and developers because that’s what advertisers spend money for – to connect with end users like you and I. So how can you successfully deploy mobile advertising as part of your monetization strategy? What do advertisers want and how do you take advantage of that?

Source: TECHINASIA

Jones Lang LaSalle European Commercial Real Estate. Market Indicators 2014: Retail,Office & Warehousing

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El Consorcio Kuntur Wasi,ganó la licitación para construir el Aeropuerto de Chinchero en Cusco.

El Consorcio Kuntur Wasi,  conformado por Corporación América y Andino Investment Holding, ganó la licitación para construir el Aeropuerto de Chinchero en Cusco, anunció Pro Inversión.

Kuntur Wasi le ganó la partida a los otros dos consorcios: Aeropuerto Chinchero y Aeropuerto Imperial debido a que propuso un financiamiento de US$ 264.7 millones, menor al máximo de US$ 458 millones que fijó el Estado.

Los consorcios que perdieron proponían más financiamiento público: el Consorcio Aeroportuario Chinchero –conformado por las empresas VINCI Airports, VINCIConcessions y Graña y Montero– pidió US$ 411 millones; y el Consorcio Aeroportuario Imperial –intregado por el Grupo Odinsa y Mota Engil Perú– planteó un monto de US$ 348 millones.

El ministro de Transportes y Comunicaciones, Carlos Paredes, señaló que se ha superado largamente la “cifra histórica de concesiones con US$ 12 mil millones a la fecha”.

JJL: Global Real Estate Markets Gaining Traction

Source: Jones Lang Lasalle

The world's dominant commercial real estate markets have moved into 2014 in better shape than at any time since the Global Financial Crisis of 2008-2009. Capital markets are exhibiting remarkable strength and the disconnect, that has emerged over the past two years between a more cautious occupational market, is showing signs of narrowing.

This latest edition of Global Market Perspective presents an encouraging picture of a global real estate market that is regaining its pre-crisis vigour:

• The global economy is steadily improving, GDP growth is accelerating, and higher business confidence and perceptions of fewer downside risks are spurring corporations to spend again. Crucially, the U.S. economy and real estate market look finally to be gaining some traction.
• The real estate investment market is displaying exceptional liquidity in both the equity and debt markets, with a huge weight of money chasing commercial property, as evidenced by:
• Full-year 2013 sales transactions up 21% to US$563 billion
• Q4 2013 volumes hitting nearly US$200 billion; a level not seen since mid-2007
• 24 countries achieving in excess of US$1 billion in transactions during Q4
• Several major markets registering record transaction levels in 2013, including China, Australia, Canada and Singapore
• Further prime yield compression and an acceleration in capital value growth, increasing by an average of 7.5% year-on-year for prime office assets

• Very strong competition for a limited stock of core assets is forcing investors up the risk curve, into 'non-core assets in core markets' and 'core assets in non-core markets'. For example:
• Global investment volumes in the hotel sector were up a massive 40% in 2013, while industrial transactions in Europe grew by 70%
• Second-tier cities, such as Seattle, Atlanta, UK regional cities and Osaka, are capturing a greater proportion of real estate capital
• Investors are seeking out markets that until recently were considered 'out of bounds', notably in Southern Europe where there has been a rapid change in sentiment
• Investors are also targeting value-added opportunities and moving into development in order to access product

Survey: Commercial property sales will reach 10-year high by 2016

    According to a forecast report based on a survey by 39 of the industry’s leading economists and analysts, commercial real estate property transaction volume will reach a 10-year high by 2016. The report, produced by the Urban Land Institute and EY, predicted that transaction volume will reach $430 billion by 2016, exceeding the volume of 2006.

The semiannual Real Estate Consensus Forecast is more optimistic than the previous one from October 2014. Although survey respondents moderated their expectations for the housing sector – the latest forecast projects housing starts will remain below the 20-year annual average through 2016 – the overall industry outlook remains positive. The issuance of commercial mortgage-backed securities (CMBS), a key source of financing for commercial real estate, is expected to continue its rebound with consistent growth through 2016. Hotel occupancy rates are expected to continue improving, while vacancy rates are expected to decrease modestly for office, retail and industrial properties. In addition, the forecast expects a turnaround in 2014 with retail rental rates, turning positive for the first time since 2007.

“Respondents to the Consensus Forecast survey project consistent growth in the real estate industry, bringing some key factors back to pre-recession levels and others moderating to long-term averages,” said Anita Kramer, vice president, ULI Center for Capital Markets and Real Estate. “Fundamentals beyond multifamily continue to improve with the retail sector now joining in. This overall outlook for real estate is supported by expected ongoing improvements in the economy.”

The Consensus Forecast expects the overall economy to continue expanding at a rate equivalent to the 20-year average. Gross domestic product is expected to grow by 2.8 percent in 2014 and then 3.0 percent in both 2015 and 2016. Survey respondents predict that employment will grow by over 7.5 million jobs in the next three years. The unemployment rate is expected to fall to 6.3 percent by the end of the year, 6.0 by the end of 2015, and 5.8 percent by the end of 2016.

Prices and total returns for commercial real estate investments are projected to increase at moderate rates. Institutional real estate assets are expected to provide total returns of 9.4 percent in 2014, moderating slightly up to 8.5 percent by 2016. NCREIF total returns in 2014 are expected to be fairly consistent across property types with retail and industrial at 10 percent, followed by office and apartments at 9 percent. Total office returns are expected to remain at 9 percent by 2016, while retail, industrial, and apartments are all expected to moderate downward.

The Consensus Forecast survey findings, by commercial property type, are listed below:

Apartments – The Consensus Forecast expects end-of-year vacancy rates to rise slightly to 5 percent in 2014, 5.2 percent in 2015, and 5.3 percent in 2016. Apartment rental growth rate, which slowed in 2013 after two years of significant growth, is expected to slightly increase in 2014 to 2.7 percent and then moderate to 2.3 percent in 2015 and 2.2 in 2016.

Industrial/warehouse – Decreases in the industrial/warehouse sector are expected to continue but at a slower pace. Vacancy rates are projected to go from 11.3 percent in 2013 to 10.7 percent in 2014, 10.3 percent in 2015, and 10.1 percent by the end of 2016. According to CBRE, the sector’s rental growth rate was strong in 2013 at 3.6 percent. The Consensus Forecast projects continued growth of 3.8 percent in 2014 and 3.7 percent in 2015 before moderating to 3.0 percent in 2016.

Office – Office vacancy rates declined for the third straight year to 14.9 percent in 2013 and are expected to continue at the same pace, decreasing to 14.3 percent in 2014, 13.7 percent in 2015, and 13.1 percent by the end of 2016. Survey respondents foresee a healthy and continued growth in office rental rates through 2016. According to the Consensus Forecast, office rental rates will increase by 3 percent in 2014, 3.9 percent in 2015, and 3.6 percent in 2016.

Retail – Retail availability rates decreased in 2013; however, the Consensus Forecast anticipates modest improvements over the next three years, with availability rates expected to decline to 11.5 percent by 2014, 11.1 percent by 2015, and 10.8 percent by 2016. CBRE reported a decline in retail rental rates for the past six year; however, survey respondents foresee a turnaround in 2014 with rental rates increasing by 1.9 percent, 2.5 percent in 2015, and 3 percent 2016.

Hotel – Hotel occupancy rates are expected to continue their steady improvement, with the 2016 projection surpassing the pre-recession peak in 2006. The Consensus Forecast projects that hotel occupancy rates will continue to strengthen, rising to 63.1 percent in 2014, 63.6 percent in 2015, and 63.8 percent by 2016. The strong growth in hotel revenue per available room (RevPAR) of the last four years is expected to continue, remaining above the long-term average annual growth rate but decelerating, with growth of 5 percent in 2014, 4.7 percent in 2015, and 4 percent in 2016.

Source: Daily Reporter

72% of Chinese Mobile Music Users were Aged 21-30 in 2013

There were 313 million mobile music app users in China in 2013, while an estimated 912 million users ever consumed digital music through mobile phones during the year, according to the annual report released by iiMedia, a Chinese mobile market research agency.

43.1% of users were of age group 21-25, 29.2% of group 26-30 — that’s 72.3% of 21-30, while only 12.4% are over 30.

According to the estimation by iiMedia, China’ s mobile music sales in 2013 increased 6.1% to RMB39.7 billion (roughly USD6.5 bn).

Mobile music apps are more used for playing songs saved locally, streaming, downloads and searches, instead of creating or sharing playlists, or watching music videos.

The “mobile music” iiMedia refers to include both the mobile Internet-based and music consumed through SMS or MMS. So the majority of the total revenues were made by the three Chinese telecom operators through mobile ringtone sales and other offerings, while a minor fraction was generated from independent online music services.

The major revenue source of most mobile music apps’ was advertising which hadn’t brought them significant income yet. As of the end of the year, paid offerings include paid downloads, membership subscriptions or music data plans. Major digital music services such as Xiami launched data plans partnering with telcos during the year.

At the end of 2013 there were acquisition rumors that Alibaba had acquired TTPod and Kugou bought Kuwo. iiMedia concludes consolidation was thanks to the fact that many services were struggling to survive.

Some milestones that happened during the year,

• Duomi, one of the leading music apps in China, announced 180 million installs as of the end of 2013, a 20% increase.
• Douban FM, a Pandora-like music discovery service, announced ten million unique visitors in June 2013.
• Mobile Taobao, the mobile marketplace ran by Alibaba Group, added a music channel by integrating music offerings by Xiami, an online music streaming and download service that was acquired by Alibaba less than one year ago.
• Qianqianjingting, a music playing software acquired by Chinese search giant Baidu, was renamed Baidu Music.

China Mobile, the largest Chinese telco, has been one of the biggest players in terms of mobile music users and revenues. Migu, its mobile music brand , reached 450 million users with over 50 million monthly subscribers as of 2013.

Apart from working with musicians helping them publish and promote original songs or events, and reach users, China Mobile also offers business-facing services, charging for usage of APIs, user data analysis, among others. China Mobile counts on music videos, high quality music and in-car music services as 4G is coming around.

A few new mobile music apps, however, were working on new business models. Changba, a mobile Karaoke app, began monetization through virtual gift sales in 2013.

Source: TechNode

CNET: Digital storage basics.

When it comes to computer storage, judging from many questions friends and readers send me, there's quite a bit of confusion among general users as to what it actually is. And it's not your fault; digital storage can be as messy as my desk. This is the reason for this series, where I sort out the basics and more, in layman's terms.

That said, some information in this might be too basic for advanced users. Home and novice users, however, give yourself some uninterrupted time and dive in. You'll survive.

1. Understanding the units

No matter how boring this is, you can't grasp digital storage without know its measurement unit, which is byte.

Byte (symbol: B): Byte is generally the smallest unit in digital storage. You can think of 1 byte as one character in a document. For example, we actually need to use 4 bytes to store just the word "byte." In real life, we use larger units, including kilobyte, megabyte, gigabyte, and terabyte.

Kilobyte (KB or kB): By general definition, one kilobyte is 1,024 bytes. In many cases, for the sake of simplicity, 1 kilobyte is understood as 1,000 bytes.

Megabyte (MB): By general definition, 1 megabyte is 1,024,000 bytes. Similarly, it can also be understood as 1,000,000 bytes.

Gigabyte (GB): By general definition, 1 gigabyte is 1,000,000,000 bytes.

Terabyte (TB): By general definition, 1 terabyte is 1,000,000,000,000 bytes, or 1,000GB.

Currently, the largest 3.5-inch hard drive (commonly found inside a desktop computer) offers 4TB of storage space. Most computers come with drives with capacities of somewhere between 120GB and 2TB. Most mobile devices, such as tablets or smartphones, offer between 8GB and 120GB of storage space.

Generally, a typical photo taken by the iPhone 4 takes up about 2MB of storage space. A digital song uses about 5MB. A compact disc (CD), which has the capacity of 700MB, can hold about 350 iPhone photos or some 140 songs. The actual size of digital content varies a great deal, however, depending on the format and the compression level. The common rule is the richer (and/or higher quality) the content, the larger storage space it requires. A 10-minute audio podcast needs anywhere between 4MB and 10MB, but a 10-minute high-def movie requires a few hundred megabytes or even a gigabyte of storage space.

Storage vs. memory

These are two terms that are often mistakenly used for each another, though they are two very different things.

Storage, in a nutshell, is where the information (such as Word documents, photos, movie clips, programs, and so on) is stored. In a computer, the whole operating system itself, such as Windows 7 or Mac OS, is also stored on the internal storage device. Storage is nonvolatile, meaning that the information is still there when the host device (a computer, for example) is turned off and is readily accessible when the device is turned back on. It's like a book or a paper notebook that's always there, ready for you to read or write on.

Memory (aka system memory, random access memory, or RAM), on the other hand, is where information is being processed and manipulated. Data in the system memory is volatile, meaning that when the computer is turned off, it's gone; the memory becomes blank, as if nothing has been there before. It's somewhat like the short-term memory part of your brain, where images or ideas are being formed and processed when you read a book -- those that disappear the moment you stop reading.

Source:   by Dong Ngo, CNET.

Vietnam is now Apple’s fastest growing market in the world

If you know anything about Vietnam, you know that Vietnamese people are highly brand conscious. Brands are associated with status and status is everything. Vietnam is so brand conscious that a business person will not trust that you are successful unless you drive a nice Mercedes Benz. So it’s no surprise that Apple, which has been deemed the world’s number one brand, is seeing its iPhones and iPads flying off the shelves in Vietnam. Apple (NASDAQ:AAPL) is experiencing a sales boom in Vietnam right now, according to Apple executives talking in the company’s earnings conference call this week. Reuters notes that in Apple’s fiscal first half of the year, Vietnam sales tripled – that’s five times faster than Apple’s sales growth in India. iPhone sales in Vietnam have doubled quarterly. Vietnam is now Apple’s fastest growing market. This seems bizarre when you look at Vietnam’s overall economy. In 2013, the annual income of of an average Vietnamese person was just below US$2,000. Vietnam’s economy has been sluggish since 2009. But that hasn’t dampened demand for smartphones. As Reuters’ Nguyen Phuong Linh notes, Vietnamese people are willing to spend more than they can afford just to have the appearance of status. A smartphone is the cheapest luxury item out there and it also has the highest visibility.

According to research group IDC, one of the key factors in Apple’s growth is its latest partnership with FPT, the tech juggernaut that does everything from manufacturing to internet services to outsourcing. FPT is an authorized distributor of Apple products and FPT Retail is an Apple Premium Reseller in the country. Retail channels in Vietnam accounted for 70 percent of the total iPhone shipments in the first quarter of 2014, while the telcos likes Viettel and Vinaphone accounted for the remaining 30 percent. Overall, Vietnam’s smartphone shipments reached 7.6 million units in 2013. That’s an increase of 89 percent from 2012. This growth will likely continue for many years to come.

Source:  TECHINASIA

AliPay Now Available on Another Japanese E-commerce Giant Rakuten

AliPay, the payment arm of Chinese Internet titan Alibaba, reached cooperation with Japanese e-commerce giant Rakuten to added AliPay as a payment option for purchases on Rakuten Global Market, the cross-border e-commerce unit of the Japnese company. The service is currently available in 250 stores on the platform and will be expanded to all the stores in the future.

Rakuten is the second Japanese e-commerce service that AliPay announced cooperation this month. Last week, AliPay announced it will be added as payment option on Yahoo! Shopping Japan.

Japan has become a popular marketplace for Chinese netizens who want to purchase products overseas, largely due to the depreciation of JPY. The total consumption of Chinese online shoppers in Japanese e-commerce sites surged more than 300% YOY in 2013.

As of the first quarter of this year, AliPay is available in more than 100 Japanese e-commerce sites and more than 1,000 platforms globally, according to data from the company.

Source: TechNode

SpaceX Just Made A Big Step Towards Cheaper, More Sustainable Space Flight

Elon Musk just announced a significant milestone for SpaceX and, well, humanity. The first live test of a Falcon 9 rocket boost stage landing vertically was a success. The first stage of the rocket returned to Earth and landed vertically in the Atlantic Ocean after boosting the second stage to a resupply mission with the International Space Station.

Sadly, this part of the rocket was lost to sea as SpaceX could not retrieve the rocket until two days after it “landed.”

Musk stated at a press conference today that all telemetry data indicates that the rocket soft-landed in the water with the legs deployed — as if it were landing on land. The end goal is to have a reusable rocket, one that can launch, land, and launch again. Musk says SpaceX foresees being able to land and relaunch a rocket on the same day.

The space transportation company has tried several times to retrieve rocket stages after launching, including using parachutes, but later switched to landing. This Falcon 9 soft landing came after extensive testing that included launching and landing a smaller version of the rocket called the Grasshopper.

According to Musk, the boost stage constitutes 70 percent of the cost of a rocket and by reusing this part of the rocket, it would reduce the cost by at least 70 percent. Plus, as Musk preaches, reusing rockets would reduce the impact on the environment since it would decrease the amount of rockets built. SpaceX charges $60 million to launch a Falcon 9.

SpaceX is currently building out several launch facilities in Texas and Florida. It’s modifying launch pad 39a at NASA’s Cape Canaveral facility which is where Apollo 11 launched from. The company is also fighting the U.S. Air Force over a contract with the Russian space agency. SpaceX has decided to file suit against the U.S. Air Force to get it to open up competition for national security-related rocket launches.

Source: TechCrunch

Xiaomi to Expand to Ten more Countries, Officially Launches Smart WiFi Routers

Source: TechNode

Xiaomi, the Chinese smart device and mobile service provider, has launched a new website, Mi.com, for the company wants to make it easier for non-Chinese to say the company’s name, Lei Jun, CEO of the company, said today at a press event in Beijing. Actually the company was named after MI; abbr. Mobile Internet. The new domain name cost USD3.6 million.

Mr. Lei announced today that Xiaomi will expand to ten more countries in 2014 as the initial expansion to Taiwan, Hong Kong and, more recently, Singapore performed “way better than expected”. The ten are less-developed markets in Asia, Europe and South America, including Malaysia, the Philippines, India, Indonesia, Thailand, Vietnam, Russia, Turkey, Brazil and Mexico.

Xiaomi ships products overseas from two warehouses in Shenzhen and Taiwan. It partners with third-party logistics services for product delivery.

MIUI, the customized Android system for smartphone, smart TV and other Xiaomi devices, now has 25 language versions and 2 million users outside China.

Xiaomi’s international business is overseen by Lin Bin, President and co-founder (a former exec at Google China), and Hugo Barra, former Vice President of Android at Google who joined Xiaomi last year.

China posts surplus in Q1 balance of payments

 China reported both current and capital account surpluses from January to March, marking the sixth consecutive quarterly "twin surplus," official data showed on Friday.

The State Administration of Foreign Exchange said China had a surplus of 7.2 billion U.S. dollars in the current account in the first quarter, down sharply from the 47.6-billion surplus seen in the same period in 2013.

The country's surplus in the capital account expanded to 118.3 billion U.S. dollars in the first quarter from 90.1 billion in the first three months of 2013.

Net foreign direct investment stood at 51.2 billion U.S. dollars in the period, 19.3 billion more than the same period last year.

China's foreign exchange reserves increased by 125.8 billion U.S. dollars in the first quarter, 31.3 billion less than in 2013.

Source: Xinhua

China to maintain policy continuity, stability

China's economic growth in the first quarter was generally within expectation, and the country will maintain continuity and stability of its macro policies, the central leadership of the ruling Communist Party of China (CPC) said on Friday.

Fiscal and monetary policies will remain as they are, and the country will nurture good development prospects and a transparent macro policy environment, said a statement released after a meeting of the Political Bureau of the CPC Central Committee, chaired by its general secretary Xi Jinping.

While sticking to the basic principles of stable macro and flexible micro policies, timely adjustments should be made in accordance to changing conditions of the economy so as to realize economic and social development goals for the year, said the statement.

It said the fundamentals of the economy remains unchanged, adding that economic growth in the first quarter was generally stable and within the proper range, with positive changes in economic structure.

However, downward pressure in the economy still exists, some difficulties cannot be underestimated, and a high level of attention should be given to hidden risks, said the statement.

Growth in China stood at 7.4 percent year on year in the Jan.-March period, slowing from 7.7 percent in the fourth quarter of 2013.

Source: Xinhua

Bloomberg: Yandex Sinks as Putin Hints at Stronger Internet Controls

Yandex NV (YNDX), Russia’s largest search-engine company, slumped to an eight-month low after President Vladimir Putin said the government may subject it to more regulation.

Yandex plunged 5.6 percent to $26.69 in New York to the lowest since June 24. Trading volume exceeded the average daily level by 51 percent, data compiled by Bloomberg show. The stock is down 38 percent in 2014, making it the worst performer on the Bloomberg index of the most-traded Russian stocks in the U.S., after doubling last year.

Putin, speaking at a conference in St. Petersburg, said Russia should protect its information in a market dominated by U.S. technology. Yandex, he said, may need to get a media license as it publishes news on its website.

When Yandex started “they were pushed to have a certain number of Americans and Europeans in their management,” Putin said. “Some of their regulation is done abroad, and not only for the purpose of taxation, but for other reasons. That is a complex area.”

Putin’s comments suggest he may try to gain more control of Russia’s online industry as his push into neighboring Ukraine fuels the worst standoff with the U.S. and its allies since the Cold War, said Mansur Mammadov, a money manager at Kazimir Partners in Moscow.

“This was a strong and negative signal,” Mammadov said by phone. “When Putin talks about a private company in such a negative context, that is immediately bad for the stock.”

Yandex, based in The Hague, said its decision to place its headquarters outside of Russia was motivated by corporate law and wasn’t related to its tax structure.

Russian Rate Increase Follows Rating Cut as Ukraine Crisis Deepens

        The WSJ reports,"Russia's central bank boosted interest rates Friday, in a surprise move aimed at reining in inflation while the confrontation with the West over Ukraine escalates.

The decision followed a downgrade of Russia's credit rating to one notch above junk by Standard & Poor's Ratings Services, which turned up the pressure on beleaguered Russian assets".

Russia's already-slowing economy has been hard hit by capital flight during the Ukraine crisis, which continues to intensify.

The Bank of Russia raised its key lending rate by half a percentage point to 7.5%, confounding analysts' expectations for no change. When the central bank lifted rates by 1.5 percentage points in March, it said the move was temporary.

Russia's central bank boosted interest rates Friday, in a surprise move aimed at reining in inflation while the confrontation with the West over Ukraine escalates.

The decision followed a downgrade of Russia's credit rating to one notch above junk by Standard & Poor's Ratings Services, which turned up the pressure on beleaguered Russian assets.

Russia's already-slowing economy has been hard hit by capital flight during the Ukraine crisis, which continues to intensify.

The Bank of Russia raised its key lending rate by half a percentage point to 7.5%, confounding analysts' expectations for no change. When the central bank lifted rates by 1.5 percentage points in March, it said the move was temporary.

The ruble, which dropped after the rating downgrade, found only brief respite before closing in once more on its low of the day. It was 0.5% lower against the dollar at 35.962.

Russian stocks and bonds fell after S&P earlier cut its rating on Russia one level, to triple-B-minus from triple-B, citing large capital outflows in the first quarter. Moscow's RTS index traded down 1.2%, hitting its lowest level since mid-March.

While the price of oil—Russia's main export—stagnates, money is leaving the economy amid feeble economic growth, a lack of reforms and rising political risks from the Ukraine crisis. Capital outflow was more than $60 billion in the first quarter alone, while the ruble has lost more than 10% after Russia's annexation of Crimea. The Russian economy is expected to grow by just 0.5% in 2014, the lowest level since the 2008 crisis, but the Finance Ministry has said it considers even this meager growth outlook to be too optimistic.

The Guardian: Russia offers proposal to resolve Ukraine crisis

The Russian foreign minister, Sergei Lavrov, appears to have offered a deal to resolve the crisis in eastern Ukraine, suggesting that if the country's government clears out the nationalist protest camp in Kiev, then pro-Moscow separatists will lay down their arms.

Western officials greeted the proposal with scepticism, noting that such confidence-building measures were at the heart of an international agreement reached last week, but which failed to end the separatists' occupation of public buildings in eastern Ukraine. They said the protest camp in Independence Square in Kiev, erected in February during the uprising that toppled the Russian-backed president, Viktor Yanukovych, was already being dismantled.

The Organisation for Security and Co-operation in Europe, which is monitoring the situation in Ukraine, reported that its team in the capital "observed the ongoing clearing of barricades in the Maidan square".

"The situation in the capital city was calm," the report added.

One western official raised the possibility that Lavrov might be seeking to use the dismantling of the camp as a face-saving way out of the crisis, but cautioned that there were few other signs of compromise from Moscow.

Lavrov's comments came as the Ukrainian government launched further military operations against some of the pro-Russian separatists who have seized government buildings across eastern Ukraine, having killed up to five rebels on Thursday.

BPZ Conference Call May 9th, 2014

Houston, April 24, 2014 (GLOBE NEWSWIRE) -- BPZ Energy, (NYSE: BPZ) (BVL: BPZ) today announced that it will host a conference call and live webcast to discuss financial and operational results for the first quarter ended March 31, 2014.  The event is scheduled for Friday, May 9, 2014, at 10:00 a.m. CDT (11:00 a.m. EDT)

U.S. Demand for Home Loans Plunges

  The WSJ reports,"mortgage lending declined to the lowest level in 14 years in the first quarter as homeowners pulled back sharply from refinancing and house hunters showed little appetite for new loans, the latest sign of how rising interest rates have dented the housing recovery.

Lenders originated $235 billion in mortgage loans during the January-March quarter, down 58% from the same period a year ago and down 23% from the fourth quarter of 2013, according to industry newsletter Inside Mortgage Finance''.

The decline shows how the mortgage market is experiencing its largest shift in more than a decade as an era of generally falling interest rates that began in 2000 appears to have run its course. The average 30-year fixed-rate mortgage stood at 4.5% last week, up from 3.6% last May, when interest rates shot up in reaction to the Federal Reserve's initial indication that it might reduce a bond-buying campaign that was, in part, designed to keep a lid on long-term rates like mortgages.

The decline in mortgage lending last quarter stemmed almost entirely from the slide in refinancing. Loans for home purchases were basically flat from a year earlier and down from the fourth quarter.

"A strong housing rebound is an important component of most forecasts that suggest that GDP growth will be stronger than the economy's 'potential' rate over the next two years," Eric Rosengren, president of the Boston Fed, said in a speech last week.

Softness in the housing market, if it deepens and undermines the broader economic outlook, could complicate the Fed's efforts to dial back easy-money policies designed to support the recovery. Applications for purchase mortgages last week ran nearly 18% below the level of a year ago, even as the average loan amount on new applications hit a record of $280,500, according to the Mortgage Bankers Association.

The numbers raise questions over whether wage and job growth is strong enough for American consumers to shift the housing rebound that began two years ago into second gear. Some investors, who have played an outsize role whittling down an oversupply of homes, have begun to retreat from certain markets where prices have risen sharply. The degree to which traditional buyers, especially at the entry level, are able to pick up the baton could determine the shape of the recovery going forward.

Reuters: US STOCKS-Futures point to lower open

U.S. stock index futures pointed to a lower open on Friday as a number of bellwether names, including Amazon and Ford, fell following their quarterly results, overshadowing positive numbers from Microsoft.

* Investors also continued to pay attention to intensifying geopolitical strife after Ukrainian forces killed up to five pro-Moscow rebels and Russia launched army drills near the border. The actions raised fears Russian troops would invade. Separately, local police said seven people were injured overnight at a pro-Ukrainian checkpoint near the Black Sea port of Odessa when an explosive device blew up.

* While the situation has taken a backseat to corporate earnings in recent weeks, investors remain on edge over what the potential fallout could be to any prolonged tension or violence. Visa Inc late Thursday said U.S. sanctions on Russia were hurting its card transaction volumes and that revenue growth would slow further this quarter, sending shares down 3.7 percent to $200.50 in premarket trading.

* Amazon fell 5 percent to $320 after posting a jump in revenue, offset by sharp increases in spending. Ford Motor Co fell 2.1 percent to $15.98 in premarket trading after first-quarter earnings missed expectations, hurt by higher warranty costs in North America.

On the upside, Microsoft Corp's earnings topped analyst forecasts, while investors were cheered by the software giant's new emphasis on mobile and cloud computing. Shares rose 1.5 percent to $40.46.

Alibaba Plan Puts IPO Record in Sight

  The WSJ reports,""Alibaba Group Holding Ltd. is working on a plan that could make its initial public offering the largest in history".. .

No final decision has been made, but the addition of new Alibaba shares could help push the IPO beyond $20 billion, potentially topping Agricultural Bank of China Ltd record $22.1 billion offering in Shanghai and Hong Kong in 2010, according to Dealogic, which tracks IPO data. 

A Chinese company taking the record for a stock sale would be yet another sign of the growing importance to global investors of the world's most-populous country.

Still, the stakes are high for Alibaba as well as Wall Street. The company's market debut will be its unveiling to the world's public-stock investors. Its banks—Credit Suisse Group AG , Deutsche Bank AG, Goldman Sachs Group Inc.,Morgan Stanley, J.P. Morgan Chase & Co. and Citigroup Inc.  —also must stage a delicate dance between raising a large sum and ensuring that the sale goes smoothly.

The U.S. IPO market has started the year at its fastest pace since the dot-com era, according to Dealogic. But a recent correction in the price of growth stocks has cast a pall, with some deals—including Chinese Internet firms Weibo Corp. and Leju Holdings Ltd.—pricing below their most optimistic forecasts.

China Focus: Property market cools down amid rigid lending

The slowdown of the property market that was mainly seen in China's third- and fourth-tier cities last year has spread to more areas, and analysts warn of a tough 2014 for developers.

Figures released by the National Bureau of Statistics (NBS) last Friday showed that 178.25 million square meters of residential property were sold in the first quarter, down 5.7 percent year on year.

Wu Huimin, a board member of property service company DTZ, said although the first quarter is usually a slack season for the sector, the real reason behind the sliding transaction volume was because the market entered a period of adjustment after last year's robust sales and ever-rising prices.

According to the NBS, home prices in a pool of 70 major Chinese cities grew at a slower pace in March, with fewer cities reporting month-on-month price gains. Month on month, four cities saw new home prices decline.

Added to the property market woes is the credit crunch for both developers and buyers.

Stringent bank loans since the end of last year have dealt real estate firms, medium- and small-sized ones in particular, a blow in securing their fund chain, said Hu Baosen, board chairman of Central China Real Estate Ltd.

In the first quarter, paid-in investment to real estate enterprises was 2.87 trillion yuan (465 billion U.S. dollars), up 6.6 percent year on year, and the rate was 20.3 percentage points lower than the overall growth for 2013, according to the NBS.

Meanwhile, banks have not loosened their control over personal housing loans, making it more difficult to purchase property on mortgage.

Among the 35 major cities surveyed by Centaline Property Agency Ltd., 25 have seen their banks suspend housing loans.

"China's property market is adjusting after touching the ceiling, and the extent of adjustment will go beyond the anticipation," said Tian Ming, board chairman of Landsea Group.

"No property enterprises, big or small, are safe," Tian said.

In spite of the temporary hiccup, industry insiders however noted that the property market will embrace new opportunities thanks to China's urbanization and the government's loosening of controls.

Over the past decade, to curb high prices the government has controlled the real estate industry.

In this year's government work report, delivered at the annual parliamentary sessions, no new policies on property market control were mentioned, a sign that the government will give more say to the market, analysts said.

Source: Xinhua

WSJ: Ukraine Halts Military Push, Fearing Attack From Russia

   The Wall Street Journal reports,"Ukrainian forces moved in on a pro-Russian stronghold Thursday, killing several militants in a firefight at a roadside checkpoint, but quickly halted their advance after Russia activated the thousands of troops it has massed just across the border".

Moscow's saber-rattling—launching new land and air military drills—left Ukraine's new government in a quandary: whether to risk pressing ahead with what it calls its antiterrorist operation in the restive east, or risk more bloodshed and provoking an invasion.

Acting President Oleksandr Turchynov, who had ordered the military operation to restart on Tuesday, vowed it would continue even as a security official in Kiev said the operation in the eastern city of Slovyansk had been paused for reworking. Ukraine's Foreign Ministry gave Moscow 48 hours to explain the military exercises along the border.

The Pentagon called those drills "exactly the opposite of what we have been calling on the Russians to do."

President Barack Obama said Thursday in Tokyo that Russia hasn't been abiding by the spirit or letter of the international agreement reached a week ago in Geneva and intended to reduce tensions. Mr. Obama reiterated warnings that the U.S. is prepared to impose additional sanctions in days. Secretary of State John Kerry said Ukraine was holding up its end of the deal, but that Russia hasn't taken a "single concrete step."

Mr. Putin's tone Thursday was less strident than that of his foreign minister, Sergei Lavrov, a day before.

Mr. Putin said the use of the Ukrainian army against its own citizens would be "a very serious crime," but he stopped short of threatening military action. Mr. Lavrov had said an attack on Russians in Ukraine would be seen as an attack on Russia itself and require a response.

National Bank Of Greece: S&P affirms 'CCC/C' Ratings on NBG with Outlook Negative......

S&P affirms 'CCC/C' Ratings on NBG with Outlook Negative.
Doesn't anticipate Bank of Greece capital increase will create
sufficient cushion.
It expects that the Hellenic Financial Stability Fund will be willing and
able to provide capital support to NBG.
Its negative outlook for NBG reflects the possibility of a downgrade
 in the next 18 to 24 months.
Final decision on capital increase will be decided in a Extraordinary
Meeting on May 10.

Apple: China Delivers

• "China and Japan helped Apple beat estimates and set revenue records for the March quarter.The market has cheered Apple's results for the latest quarter, sending the stock up 8%".
• "China Mobile (CHL) carries around 780 million subscribers on its network, and so the fanfare was somewhat warranted when the deal has hatched with Apple and the iPhone launched back in January of this year. And as we peruse the earnings and pore over the call, it is easy to see that China and Japan are proving to be solid revenue growth drivers".
  "Widely expected to add around 12 million iPhone sales for Apple this year, China Mobile helped push Apple's iPhone numbers past 43 million for the March quarter. Revenues for the quarter, as compared to last year, are up 17%. Total revenue from China alone approached $10 billion, almost 1/4th of Apple's entire revenue for the quarter. China's growth represented 13% growth year-over-year, with Japan clocking in at 26% growth over the same time frame. CEO Tim Cook explained that the traction and growing market share for the iPhone in many emerging markets, including Greater China, sparked a record quarter for the company. Indeed, Cook stated that market share in Japan reached "an incredible 55%."

• iPhone sales were up 28% [in China], that's versus the IDCs market forecast of 20% growth.

  The traction of the iPhone in China simply beat everyone's expectations. The iPhone enjoyed a high level of success in China, and investors should expect it to remain so.
  Secondly, the growth of Apple's retail segment and point-of-sales numbers in China demonstrate the continued potential the country presents. Apple seeks to triple the number of stores in the country in two years, and observers are certainly aware of the success the retail strategy has been for the company over the years, consistently at or near the top of all companies on a sales-per-square-foot basis. Cook's explanation is that only 40,000 points-of-sale exist in a country with hundreds of millions of cellphone users. Clearly, there is room to grow to reach all these consumers.
  Also, Cook's numbers on adoption of first-time iPhone owners were startling: over 60% of 4s and 5c purchasers switched from Google (GOOG, GOOGL) Android. This fact appears to be antithetical to what we have heard from the last few years about Apple consistently losing market share to Android phones, and could portend more positive traction for the iPhone in China"
• Source: Seeking Alpha

Real Estate data 2013 (Infographics)