Monday, 23 December 2013

China signs trade deal with Chicago

China’s Ministry of Commerce and the City of Chicago signed a trade and investment agreement Monday. The agreement facilitates trade between Chicago and 8 Chinese cities.
This is the first trade deal between cities of China and the U.S. was signed.
The agreement is a result of Chinese President Xi Jinping’s visit to the U.S. last year, it also follows last week’s China-U.S. Joint Commission of Commerce and Trade talks.
In 2012, total trade between China and Chicago reached 55.5 billion U.S. dollars, which takes up about 11% of the total China-US trade for the same period.
The agreement signed today covers 8 Chinese cities including Beijing & Shanghai. This is a good boost for future China-US relationship, but some companies have some bitter words to say.
The problem lies at the executive level..where some U.S. companies fear that Chinese companies will take their positions in the market, and some Chinese provincial governments are also doing the same thing to protect local businesses. I think the resolution is that policies should be made based on the necessities of companies, and that both sides need to realize that more competition in the long term will help the companies grow stronger.
"I believe the agreement will further help China and the U.S. develop a better trade relationship, and will also boost economic activities between Chinese provinces and U.S States," said Ma Weigang, Director general of Bureau of Commerce of Qingdao, China.
Source: CCTV

Apple inks iPhone deal with China Mobile

Apple and China Mobile have finally signed on the dotted line, after six years of talks. Apple announced on Sunday a multi-year deal with China Mobile--the world’s largest carrier. The deal will bring Apple’s latest iPhone 5s and 5c to mainland stores on the 17th of January in 2014.
A Christmas present for Apple fans in China.
Apple and China Mobile said the iPhone 5S and 5C will support China Mobile’s newly-launched, speedier 4G network. Buyers can start their pre-registration on Christmas Day, but the pricing details won’t come out until a later date. In spite of Apple’s huge fan base, Chinese consumers have become more picky.
"There’s not such a big difference up to the iPhone 5S as there was from iPhone 3 to iPhone 4. I don’t see any changes in its appearance, they all look the same," said Yan Yuyang, Beijing resident.
"I don’t like iPhone’s system. I prefer Android, because I’ve become used to it," said Qu Yanli, Beijing resident.
But analysts say the Apple-China Mobile deal is more than Apple launching products in more Chinese stores.
"Apple and China Mobile’s deal shows in the 4G era China Mobile’s TD network has gained recognition of major global mobile phone suppliers," said Wang Jun, senior analyst.
Analysts say China’s homegrown TD technology didn’t show its advantages in the 3G era, but the collaboration between Apple and China Mobile will surely spread the technology.
As China Mobile is rolling out the world’s largest 4G network, its 760-million-customer base is a massive attraction to Apple. China Mobile says by the end of 2014 it will cover 340 Chinese cities with 4G service.
Dow Jones cites analyst reports that Apple could sell as many as 39 million iPhones in China next year--almost half of that could be from its tie-up with China Mobile. The deal could also spell upside for Apple shares, which had risen on reports of a China Mobile deal but then fell when it didn’t happen.
Source: Xinhua

Success after third try to list in Hong Kong China Everbright Bank

Hong Kong’s IPO scene turns hotter as temperatures drop in the city. In a span of eight days, China Everbright Bank trumps China Cinda Asset Management as the biggest initial public offering in Hong Kong for the year, raising three billion US dollars on Friday.
Finally listed after two failed attempts. China Everbright Bank displaces China Cinda’s listing just over a week ago as it becomes the largest IPO for the year, based on the number of shares that investors ordered before the launch. The Mainland’s eleventh largest bank by assets – plans to use the money to shore up its capital to meet stricter regulatory requirements. For Everbright Chairman Tang Shuangning, it is well worth the wait.
A week before the share sale, Everbright secured over one-point-seven billion U-S dollars from 19 cornerstone investors. Those who committed to hold their stake for a certain period include Canadian insurer Sun Life Financial and U-S insurer Prudential Financial.
Even before the Hong Kong listing, Everbright Bank had already been trading in Shanghai. It’s the third Chinese bank to launch an IPO in Hong Kong in recent weeks after Bank of Chongqing and Huishang Bank. The listing culminates a two-year wait, when Everbright attempted to raise as much as six billion U-S dollars in 20-11. It tried again in May last year – before canning it due to poor market conditions.
With market conditions still relatively volatile – strategists such as Linus Yip advise investors a certain degree of caution.Everbright doesn’t possess that ‘novelty factor’ that Cinda does, says Mr. Yip. Reason why Everbright may have to jostle for investor attention against other listed lenders, as it joins the Hong Kong stock market from today.
 Source:  CCTV

Russia: Pussy Riot band, much more than hooliganism.

Freed Pussy Riot members say prison was time of 'endless humiliations'

Maria Alyokhina and Nadezhda Tolokonnikova say they want acquittal from Vladimir Putin, not amnesty
Maria Alyokhina of Pussy Riot
Pussy Riot member Maria Alyokhina said she had had repeated forced gynaecological examinations in prison. Photograph: Sergei Karpukhin/Reuters
After nearly two years in prison for singing a song about Vladimir Putin in Moscow's main cathedral, the women of Pussy Riot are no less defiant.Maria Alyokhina and Nadezhda Tolokonnikova have walked free from prison , and pledged to devote their energies to changing the political system in Russia and improving conditions inside its prisons.
Bareheaded despite the -25C cold, Tolokonnikova walked out of prison in the eastern city of Krasnoyarsk, flashing a victory sign to reporters waiting outside. "How do you like our Siberian weather here?" she asked, before shouting "Russia without Putin!"
Speaking to the Guardian by telephone shortly after her release from prison in the city of Nizhny Novgorod, Alyokhina said that the pair – who were released as part of a wide-ranging amnesty announced last week – now plan to launch a project which will fight for the rights of inmates in the Russian prison system.
"We will be creating very special, colourful and powerful programmes to defend other innocent women in Russian prisons, who are being turned into slaves right now," Alyokhina said, adding that she planned to fly to Siberia in order to meet up with her band mate.
Tolokonnikova confirmed that the two women planned to meet soon to discuss the new project: "Russia is built along the same lines as a prison camp at the moment, so it's important to change the prison camps so that we can start to change Russia," she said. "Everything is just starting, so fasten your seat belts."
Alyokhina described her prison sentence as a time of "endless humiliations", including forced gynaecological examinations almost every day for three weeks.
She said: "I decided to become a human rights activist when I realised how easy it was for officials to make a decision and force women to be examined in the most intimate parts of their bodies. Russian officials should not stay unpunished, they cannot have this kind of absolute power over us."
Zoya Svetova, a member of the Moscow Public Oversight Commission visited Alyokhina in Moscow jail and confirmed that she had repeatedly been subjected to intimate searches.
"Inmates call it 'to be let through the chair' – it is a part of searching process. That is the most humiliating thing for any woman. I am not sure how many times Alyokhina went through it - I guess every time she left the jail to go to court," Svetova said.
Alyokhina, Tolokonnikova and a third band member, Yekaterina Samutsevich, who was released on appeal shortly after the guilty verdict,were found guilty of hooliganism motivated by religious hatred for their performance of an anti-Putin "punk prayer" inside Moscow's Cathedral of Christ the Saviour in March 2012.
The two were released as part of an amnesty initiated by Putin and backed by the Russian parliament last week, which is timed to coincide with the 20th anniversary of the Russian constitution. The women qualify because they have young children.
Alyokhina told Russian television that had she been given the chance, she would have turned down the offer of amnesty, and served out the remainder of her sentence, which was due to finish in March.
"This is not an amnesty, this is a hoax and a PR move," she said. Tolokonnikova called on western countries to boycott the Sochi Olympics in February in protest at the Russian regime.
Samutsevich also rejected the women's amnesty. "We were innocent when the Kremlin locked us up: it was not amnesty that we expected from Putin; we demand acquittal," she told the Guardian.
The amnesty also provides a reprieve for 30 Greenpeace activists, including six Britons, arrested aboard the Arctic Sunrise in September. They had been bailed last month but were stuck in St Petersburg waiting for a trial for hooliganism that could have seen them jailed for up to seven years. They will now be allowed to leave Russia, though the paperwork looks like it will not be ready in time for them to spend Christmas at home.
The release of Alyokhina and Tolokonnikova came just three days after another prominent prisoner, former oil baron Mikhail Khodorkovsky, was released after asking Putin for pardon and receiving it. Khodorkovsky described being woken up by prison guards in the dead of night, transferred to St Petersburg, and put on a plane to Berlin, where hespoke to journalists on Sunday.
Alyokhina said that her release from jail also felt "more like a secret special operation than an act of humanism". She was woken and told she had been released, but prison officials packed her belongings without letting her decide for herself what she wanted to bring and what she wanted to leave for other inmates. She was not given a chance to say goodbye to the friends she had made in the prison, and instead was led to a car and driven out of the prison. She was left at Nizhny Novgorod's railway station with her passport but no money, still wearing her prison overalls embossed with her name and prisoner number.
Alyokhina called friends at the Committee Against Torture, a local rights organisation, who came to pick her up. Stanislav Dmitriyevsky, one of the activists, said: "We were amazed that authorities would do something this ridiculous; secretly sneaking Masha out of jail so that she would not walk free to her family, friends and reporters waiting for her outside the prison walls with flowers."
Khodorkovsky did not fall under the terms of the amnesty but was pardoned separately by Putin, who made the surprise announcement last week. Putin's spokesman said there were no conditions attached to the pardon, which came after the country's former richest man wrote a handwritten letter personally to Putin. Khodorkovsky has said he may not return to Russia for some time, however. He says he will work on human rights issues but does not plan to go into politics.
Tolokonnikova was moved to the prison in Krasnoyarsk last month, after previously serving most of her sentence in Mordovia, a region known for its Soviet-era gulags. In the autumn, she went on hunger strike over conditions at the camp, and wrote an open letter describing slave-like working conditions and sadistic punishments. She has said that the prison in Krasnoyarsk was much more humane, and on her release she promised that she would work to get the head of Mordovia's prison service fired.
Samutsevitch and the other members of Pussy Riot are waiting for Tolokonnikova and Alyokhina to return to Moscow. "Pussy Riot exists, we are not going to stop being active and creative," she said.
Source: theguardian

In aging Japan, death is big business

Japan's Emperor Akihito surprised the nation last month when palace officials announced plans for his funeral. His wishes for a relatively modest one - and the act of planning ahead - were widely seen as a good example in this rapidly aging country.

Mr Akihito, who turns 80 on Monday, is still active, making an official visit to India in November with his wife, the 79-year-old Empress Michiko. But concerns have grown since he had heart bypass surgery nearly two years ago on top of prostate cancer earlier.
After an expert panel discussion for more than a year, the palace announced that Mr Akihito would be cremated, and his remains placed in a mausoleum smaller than those of his predecessors, with Michiko by his side at the Imperial compound in western Tokyo. Mr Akihito's cremation breaks a 400-year burial custom of the world's oldest monarchy, as he wishes to trim cost, space and burden on the people, officials said.
The revelation of the couple's life-end plans was well received in the world's fastest-graying nation, where 20 years from now one in three people will be senior citizens. Eroding traditions and changing demographics mean many of them lack younger relatives to look after their affairs or their graves.
A 2011 national survey by Ibaraki Christian University sociology professor Kenji Mori showed that only about 60 per cent of Japanese had a gravesite with relatives to take care of it. The majority considered funeral ceremonies an obligation, and about 40 per cent worried the arrangements would cause trouble for relatives and neighbours.

Source: NewsOnJapan

China "chunyun" train tickets available

As of Monday, passengers can buy train tickets online or by telephone for the first day of "chunyun," a 40-day travel rush period around the Spring Festival.
Only tickets for temporary trains mobilized for chunyun went on sale Monday, five days before tickets for regular trains become available, according to an announcement on the arrangement by the China Railway Corporation.
The Spring Festival, or China's lunar new year, is the country's most important traditional holiday for family reunions. Most people will go home for the festival, putting great pressure on the country's transportation system.
The coming Spring Festival falls on Jan. 31, 2014. This year's chunyun, literally translated as "spring transportation," is scheduled for Jan. 16 to Feb. 24, 2014.
People can book tickets for temporary trains 25 days before the travel date via the Internet or telephone, while train stations and train ticket agencies begin to sell the tickets 23 days ahead, according to the announcement.
Source: Xinhua

El PBI del Perú habría crecido 5% interanual en Noviembre,según el Ministro de Economía Luis Castilla

 La economía de Perú habría crecido ligeramente por encima del 5 por ciento interanual en noviembre, lo que confirmaría una recuperación de la actividad productiva del país frente a meses previos, dijo el lunes el ministro del sector, Luis Castilla.
El funcionario aseguró también que este año el país vería una expansión de 5,0 por ciento, cercano a la proyección de 5,1 por ciento que dio la semana pasada el Banco Central.
"En el mes de noviembre vamos a tener un crecimiento ligeramente por encima de 5 por ciento y un repunte del crecimiento en diciembre, para dar un crecimiento que esté por encima de 5 por ciento (en el 2013). Nuestra proyección también se acerca a la del Banco Central", dijo Castilla a periodistas.
En el 2012 el Producto Interno Bruto de Perú, un gran productor de minerales, creció un 6,3 por ciento, una de las tasas más altas de Latinoamérica.
La economía peruana se ha desacelerado este año presionada en gran medida por factores internacionales, como la baja de los precios de los "commodities" y una menor demanda de grandes consumidores de materias primas como China y Estados Unidos.
Para el 2014 el ministro Castilla afirmó que la economía del país andino se recuperaría y se expandiría en un 6 por ciento, en línea con las recientes estimaciones del Banco Central.
Fuente: Reuters

Japan Inc. builds mountain of cash

Japanese companies' cash holdings rose to a record last quarter, highlighting Prime Minister Shinzo Abe's struggle to spur the investment and wage increases needed to end a 15-year deflationary malaise.
Corporate holdings of cash and deposits rose to ¥224 trillion, up 5.9 percent from a year earlier, according to a Bank of Japan report released Thursday.The yen's 17 percent slide against the dollar this year has boosted exporters' profits, contributing to a cash pile similar in size to Russia's gross domestic product. As Abe campaigns to reflate the world's third-biggest economy, he's relying on company spending to drive a longer-term recovery once the jolt from the unprecedented fiscal and monetary stimulus wears off.

Source: Japan Times

Japan: LED lights give Otaru Canal a magical air

About 5,000 LED lightbulbs illuminated the Otaru Canal in Hokkaido, making the canal look like a star-filled night sky.
Tourists and local residents on Saturday released the bulbs, each measuring 8.5 centimeters in diameter, on the canal water. The bulbs are equipped with solar panels and rechargeable batteries.
Source: Yomiuri

Momii named NHK president

Japan Broadcasting Corp.'s Board of Governors Friday appointed Katsuto Momii, a former executive of major Japanese trader Mitsui & Co., as the next president of the public broadcaster, better known as NHK.

Momii, 70, currently senior corporate adviser at Nihon Unisys Ltd., will become the third consecutive NHK chief picked from outside the broadcaster.
Source: JijiPress

People's Bank of China injects capital into economy to ease credit crunch fear

The People's Bank of China is seeking to allay fears of a credit crunch after a shortage of day-to-day cash among commercial banks in the world's second biggest economy drove market interest rates to almost 10% on Monday.
Beijing said it would top up the $50bn in liquidity provided to the markets  last week as it sought to counter concerns that China's financial sector is gripped by the sort of squeeze that caused havoc among western banks during the crisis of 2007-08.
Benchmark interbank rates – the rates at which banks lend to each other rather than to the public – climbed to 9.8% at one stage on Monday, their highest for six months, despite the central bank's cash injections last week.
The actions by the PBOC were a response to signs of tensions in the far east's financial markets, caused by an earlier tightening of policy by the central bank, aimed at reducing the risk of cheap credit causing asset bubbles.
Banks in China often find themselves short of cash at the end of the year as companies increase their demand for capital and institutions have to meet tough regulatory requirements. China's growing shadow banking system, which tends to offer higher interest rates to investors, has also been draining funds from traditional banks.
Lorraine Tan, director of equity research at S&P Capital IQ, told CNCBC that the PBoC may need to take more action.
"I think it's just a momentary thing … it's a seasonal issue, a rush for cash. Definitely the PBoC needs to pump in more money, which it has been doing, but a little bit more is probably necessary."
Beijing pumped trillions of yuan into the economy during the global meltdown of 2008-09 and succeeded in ensuring that recession was short-lived. But officials have grown increasingly concerned that the stimulus encouraged excessive borrowing by commercial property companies and by local government. The PBoC has been pushing up interest rates in recent months to rein in credit growth without causing a "hard landing".
Investors fear the combination of Fed and tighter China interest rates could weigh on emerging market currencies and assets, as it did back in June.
Worries about the banking system contributed to a 2% drop in Shanghai shares on Friday, although the stock market steadied on Monday after Christine Lagarde, the managing director of the International Monetary Fund, said she would be revising up her forecasts for US growth in 2014.
The export-focused economies of east Asia are heavily dependent on demand from the world's biggest economy, and Lagarde said recent data from the US suggested that the Fund's estimate of 2.6% for 2014 was too low.
Source: theguardian

China: Higher interest rates at the end of 2013

China’s money rates were expected to increase into the end of the year as banks scrambled to meet regulatory requirements, though not to the level to which they have surged over the last few days. We are not yet at the near-panic of June but the current cash crunch is worrisome, and another indication of the mess in the Chinese banking system. The People’s Bank of China clearly does not want a repeat of June, however there are still seven days until the end of the year and then only a month until the Chinese New Year holiday and all its debt-settling, wage payments and cash withdrawals so rates could stay elevated for some time.

Source: Sinocism Newsletter

U.S. low Inflation a new problem for the Fed?

The Federal Reserve has two things on its wish list for 2014: A better job market and more inflation. 
   That inflation has been so low this year is a surprise. The economy has expanded about as fast as economists polled by The Wall Street Journal near the beginning of the year had forecast. Job growth has been stronger, and the unemployment rate lower, than anticipated. So, if anything, inflation ought to be higher than was expected.
Instead, it has been lower. The Commerce Department reported Monday that its index of consumer prices excluding food and energy, the "core" measure that the Fed prefers, was up just 1.1% in November from a year earlier. The headline index was up an even scantier 0.9%, as energy prices drifted down. Back toward the start of the year, economists forecast that core inflation would be up 1.8% in the fourth quarter, with the headline up 1.9%.
For the Fed, which wants inflation to go back up to its 2% target, and says it would accept it going temporarily higher, this is worrisome. The lower inflation, the lower overnight interest rates must be to generate enough spending to bring the economy to full employment.
Now inflation is so low that even overnight rates at zero haven't been adequate to spur growth. That's why the Fed has had to resort to other measures like its bond-buying programs and, more recently, signaling that it will keep rates low for a long time.
Fed Chairman Ben Bernanke last week made the case that inflation should start moving higher in 2014. Inflation expectations haven't fallen: Consumers expect more inflation than they have been getting. Economic growth appears to be picking up and wages are rising. But, he added, "inflation cannot be picked up and moved where you want it. It takes…some luck and some good policy."
Luck might not be in the cards. Job growth is picking up but there is still a substantial amount of slack in the labor market, with many people giving up the search for employment. Some economists believe that a mismatch between the skills that unemployed workers have and the ones companies seek will force firms to boost wages to retain the staff they need, paving the path for higher inflation.
     According to a Wall Street Journal report,"beyond the pace of job growth, it may be that the structure of the economy has shifted in a way that inflation will tend to be lower than the Fed's target. The University of Michigan/Thomson Reuters survey of consumers on Monday showed that people expect inflation to run at 2.7% over the next five years. But the inflation that they will actually accept may be much lower, framed by their experience of the past several years. So companies could struggle to raise prices and remain unwilling to raise wages as a result".
 ''Beyond the pace of job growth, it may be that the structure of the economy has shifted in a way that inflation will tend to be lower than the Fed's target. The University of Michigan/Thomson Reuters survey of consumers on Monday showed that people expect inflation to run at 2.7% over the next five years. But the inflation that they will actually accept may be much lower, framed by their experience of the past several years. So companies could struggle to raise prices and remain unwilling to raise wages as a result''.
''It may even be the case that aging societies like the U.S. simply don't tend to generate as much inflation as younger ones. Among the 34 countries in the Organization for Economic Cooperation and Development, countries with higher median ages are associated with lower rates of core inflation over the past decade''.

A new Year comes to an End, so.............

As a new  year comes to an end I Wish you a Merry Christmas and a Happy New Year .

This Blog is beginning to take shape and three areas are becoming more important for me,the Asia

Pacific Region,Tourism and Information Technology and High Tech, all of these on the background

of the Global Economic Trends and the Interdependence of Macroecomic and Monetary Policies.

Stunning Inca Ruins at Moray. Concentric Terraces that descend to a depth of 150 meter.



One of the most visually stunning Inca ruins is at Moray, an archaeological site in Peru approximately 50 km northwest of Cuzco and just west of the village of Maras. In a large bowl-like depression, is constructed a series of concentric terraces that looks like an ancient Greek amphitheater. The largest of these terraces are at the center – they are enormous in size, and descend to a depth of approximately 150 meter, leading to a circular bottom so well drained that it never completely floods, no matter how plentiful the rain.
The concentric terraces are split by multiple staircases that extend upward like spokes of a wheel and enable people to walk from the top to the bottom of the bowl. Six more terraces, in connected ellipses rather than perfect circles, surround the concentric heart of Moray, and eight terraced steps that cover only a fraction of the perimeter overlook the site. The purpose of these depressions is uncertain, but the most widely agreed theory is they used to serve as ‘agricultural research station’.
  It is no coincidence that the temperature, that exist between the top and the bottom reaches of the structure, which can be as much as 15°C difference corresponds to the natural difference between coastal sea level farmland and Andean farming terraces 1,000 meters about sea level. Furthermore, pollen studies indicate that soils from different regions of the Inca empire was imported to each of the large circular terraces. It is now believed that the Moray terraces were used by Incan priest-scientists to experiment with vegetable crops to determine which should be disseminated for domestic production to farmers with fields all over the Andean region.
Another enigma is the way how drainage for water flowing through the aqueducts worked. The lowest level is perfectly drained and never gets flooded even after incessant rains. It is suggested that there must be underground channels built by the depressions' bottom allowing water to drain. It is also argued that the bottom is over a very porous natural rock formation that enables water filtering toward the earth's interior.
We might never know why Moray was constructed, but the agricultural research station is a very likely possibility. Perhaps it is not surprising, since about 60 percent of the world’s food crops originated in the Andes, including hundreds of varieties of maize and thousands of potato varieties.
moray-terraces-13

moray-terraces-8

New Audi R18 e-tron quattro racer shoots laser lights

The R18 has been completely redesigned to meet new regulations

Audi calls the all-new R18 e-tron quattro LMP1 race car its most complex racer to date. The model has been completely redesigned around the 2014 season's new regulations, and it features more advanced technologies. One of those tech features, which Audi highlighted at the car's world premiere this week, is a set of laser headlights.
The laser headlights complement the primary LED headlights, creating a more homogenous light on the road ahead. The blue laser shoots light through a yellow phosphorus crystal lens. Audi will use them during the 24 Hours of Le Mans and other WEC races.
“By using this new lighting technology Audi is setting yet another milestone at Le Mans,” says Dr. Ulrich Hackenberg, Member of the Management Board for Technical Development of AUDI AG. "Laser light will also open up completely new possibilities for our production models in the future. Once more, motorsport at Audi accelerates a new technical development for our customers."
If Audi does indeed bring laser headlights to its production line, it won't be the first automaker to do so. Down in Munich, at BMW, the all-new i8 employs laser light technology.
The laser headlights are just one example of the suite of new technologies in the 2014-season R18 race car. Despite sharing the name and look of its predecessors, the R18 has undergone an intense redesign to meet new LMP1 regulations.
"A fundamental approach to motorsport is being abandoned," says Chris Reinke, head of LMP at Audi Sport. "Instead of power output, energy consumption will be subject to limitations – this is in line with the spirit of our times and opens up great technical freedoms to the engineers. In 2014, we’ll be seeing a wide variety of concepts on the grid at Le Mans."
As in the 2013 R18, the rear wheels are powered by a V6 TDI mid-engine, while the front axle is hooked to an e-tron quattro hybrid system. The car uses a flywheel system to store energy recovered during braking

Samsung's new Smart TVs will be controlled with a wag of your finger

It seems not even the impending holiday is stopping some of the tech industry's heavy hitters from teasing their standout products for the 2014 CES. First LG and Samsung unveiled separate 105-inch curved UHD TVs on the same day, and now Samsung is dropping some details on its Smart TVs for next year. In addition to less complicated voice commands, the company's 2014 Smart TV line will allow the use of "finger gestures" for basic controls like changing the channel, adjusting the volume, or rewinding video.
The improved voice command system cuts down on how many specific commands need to be given for certain controls, so users can interact with the TV much more quickly. For example, instead of saying "change channel" followed by "channel number [fill in the blank]" to switch to a new station, viewers can now just say the channel number on its own.
Samsung's current crop of Smart TVs already feature voice commands attuned to the native languages of 11 different countries, but the 2014 models will raise that number to 23 to reach a wider market. Additionally, searching the internet with voice commands will cause a window showing their results to pop up on the bottom of the screen, so they can keep watching video at the same time.
The most prominent new feature however is an enhanced gesture control system that only requires the use of one finger. According to Samsung, users will be able to cycle through menus and channels by pointing at the display and making certain movements. So far though, the only specific gesture the company has mentioned is that moving your finger in a counterclockwise motion will stop a video or scroll backwards through selections on the screen.
Unfortunately Samsung seems to only be offering a small taste of what's to come, since those are the only details it's revealed for the time being – no word on a price or release date for any of its new Smart TVs just yet. It seems we'll have to wait until CES in January to find out anything more.
Source: Gizmag, Samsung

Wall Street Journal: World Economy on better shape since 2008-9 crisis.

  The world economy is going into the year end on the best footing it has been since the financial crisis. Still, that’s not saying much. News highlights today–spiking interest rates in China’s interbank markets, sliding producer prices in Spain and waning Italian consumer confidence–are a reminder that risks loom over the global economy. Overriding this, however, is good news of recent days showing that for the first time since 2007, there is a mostly synchronized recovery underway.
Readers of this column might find it odd we can end the year on an optimistic note. After all, unemployment is still woefully high in the advanced world, the stress in China’s banking system speaks to the risk of a debt crisis in a country undergoing a difficult economic transition and the specter of deflation looms over the euro zone. But the antidote to all these ills is growth. And for once, all three regions of the world are ending 2013 in a state of moderate expansion. This is led by the U.S., where ebullient markets–as seen in the Dow Jones Industrial Average registering its first inflation-adjusted valuation record in nearly 14 years Friday–is ensuring that people are taking in stride the prospect of the Federal Reserve withdrawing monetary stimulus and so happily going about their holiday shopping. A modest recovery in Europe–led by Germany–also is helping, if for no other reason that the region’s recession is no longer a drag on global growth. And while Asia is hindered by a somewhat slower China, the impact of stronger U.S. demand for Asian exports is filter through to that region.
CHINA: Despite liquidity injections late last week by the central bank. The seven-day repo rate rose to 9.8% from 8.2% on Friday, its highest level since it hit 11.62% on June 20, at the peak of China’s summer cash crunch.
Borrowing costs briefly fell to 5.57% on Monday morning after the People’s Bank of China announced late Friday it had injected more than 300 billion yuan ($49.4 billion) into the financial system last week, but they rose again throughout the rest of the day amid a surge in banks’ year-end demand for cash. The stress in the banking system has spread elsewhere, with stocks in Shanghai falling for nine straight days through Fridaybefore eking out slim gains Monday. Unlike June’s cash crunch, this one doesn’t appear to be engineered by the authorities trying to teach banks a lesson.. Until now the central bank has been relying on a little-used tool called short-term liquidity operations, or SLOs, that are confined to a select group of 12 banks deemed crucial to the overall stability of China’s financial system. Look for the central bank to start using 14-day repurchase operations to tide banks over during the holiday period. (MA) 
SPAIN3 a.m. EST (9 a.m., Madrid). November industrial price index came in at -0.6% on an annualized basis month and was down 0.9% on the month, according to the National Statistics Institute.
November’s sharp decline in producer prices marks a deterioration in this deflationary trend, following October’s -0.2% readout for this indicator’s year-on-year estimate. Spain has been beset by deflationary forces, a direct result of the austerity it has imposed on its economy in a bid to resolve its debt crisis–a form of “internal devaluation” to restore competitiveness in lieu of an otherwise possible external devaluation via its exchange rate. The risk is that these downward-facing producer prices will translate into all-out consumer price deflation as they wind their way through the supply chain. (MC)
ITALY4 a.m. EST (10 a.m, Rome)
Italy’s economy had been showing signs of recovery. However, some industrial numbers out last week raised some doubts about that growth. That may have contributed to the deterioration in consumer confidence, which dropped to its lowest level since June. Odd, though, most of the decline in the confidence index was explained by a downgrading in people’s personal assessment; their assessment of the state of the economy held up. For a country that has, like Spain, been through so much economic and political turmoil over the past two years, a sustained improvement in consumer confidence is vital for growth. (MC)
NORWAY4 a.m. EST (10 a.m, Oslo) October unemployment rate 3.3%. September’s unemployment 3.4%.
Norway’s state-central economic model allows it to sustain low unemployment rates. But that doesn’t mean the economy is in a strong state right now. With oil prices stabilizing or pointing lower, growth has been sluggish, leading the Norwegian central bank into aggressive monetary-easing measures and to warn of further rate cuts, which has in turn weakened the Norwegian krone against both the euro and its Scandinavian counterpart, the Swedish krona. Both that weakening krone and the gradual decline in joblessness provide an argument for a reversal in the official policy position. (MC)
Source: the Wall Street Journal

Europe moving to the upside on improved U.S. economic sentiment

Europe moving to the upside on improved U.S. economic sentiment 
The European equity markets are trading mostly higher in afternoon action, with improved U.S. economic sentiment lending a hand, aided by the IMF's favorable comments over the weekend, courtesy of recent upbeat economic data, a Congressional budget deal, and the Fed's plan to reduce its stimulus measures. Meanwhile, suppliers to Apple Inc are finding some support on the heels of the confirmation of the highly anticipated deal between the tech giant and China Mobile. However, volume is lighter than usual, with the Christmas holiday on the week's horizon. In economic news in the region, German import prices unexpectedly rose in November, while Spanish producer prices fell and Italian consumer confidence surprisingly deteriorated for December. 

The UK FTSE 100 Index and Germany’s DAX Index are up 0.7%, France’s CAC-40 Index and Switzerland’s Swiss Market Index are rising 0.1%, Italy’s FTSE MIB Index is advancing 0.4%, and Spain’s IBEX 35 Index is increasing 0.2%. 

Source: Schwab

Asia mostly higher in light volume

Asia mostly higher in light volume 
Stocks in Asia finished mostly to the upside on the heels of the record highs posted in the U.S. last week, though volume was lighter than usual as markets in Japan were closed for a holiday. The Hong Kong Hang Seng Index gained 0.5% and China's Shanghai Composite Index ticked 0.2% higher, snapping a nine-session losing streak, which took the index to the lowest level since August last week, with financials leading the way despite continued liquidity concerns in the region. Stocks in mainland China shrugged off the seventh-consecutive daily increase in China's benchmark money-market rate, which reached the highest level since June 20, per Bloomberg, fostering the flare-up in credit crunch concerns, despite last week's announcement that the government has injected liquidity in the financial system. Meanwhile, stocks related to the supply chain of Apple Inc. received a boost in the wake of the company's deal with China Mobile, helping South Korea's Kospi Index rise 0.7%. Elsewhere, Australia's S&P/ASX 200 Index advanced 0.5%, aided by continued strength in financials, while India's S&P BSE Sensex 30 Index inched 0.1% to the upside.

Source: Schwab

U.S. Department of Commerce: Personal Income and Outlays November 2013

PERSONAL INCOME AND OUTLAYS: NOVEMBER 2013
Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI)
increased $16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal
income decreased $11.7 billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE
increased $44.2 billion, or 0.4 percent, based on revised estimates.
Real disposable personal income increased 0.1 percent in November, in contrast to a decrease of
0.2 percent in October. Real PCE increased 0.5 percent in November, compared with an increase of 0.4
percent in October.


BDI* foreign economic report *Federation of german industries

The BDI,is expecting rising export growth for 2014 and anticipates an increase of at least two percent.

»The global economy is continuing on its path of growth. Europe will emerge clearly from recession, though the pace will be moderate. Reform efforts in the eurozone will slowly show an effect.«

That was the view of Markus Kerber, Director General of the Federation of German Industries (BDI), at the presentation of the latest BDI Foreign Economic Report in Berlin on Monday. The signs are pointing to growth.

»The WTO agreement on Bali is a welcome shot in the arm for world trade.«

»The agreement will lead to cost savings for business enterprises since bureaucratic obstacles are to be dismantled and customs procedures will operate more rapidly and transparently in the future.«

Many of the new agreements will benefit branches of industry such as mechanical engineering and the automotive industry, especially in their trade with the developing nations. The food and drinks industry will also gain from the provisions governing the more rapid despatch of perishable goods.
    
Despite the setback resulting from the budget dispute in Congress, the economy in the USA continued its recovery in the third quarter. As possible risks for export-oriented sectors in the New Year, Kerber pointed to the still rising number of protectionist measures along with a further rise in the value of the euro. For the current year 2013 the BDI is anticipating a rise in exports of between 1.5 percent and 2 percent, meaning that Germany’s share of world trade will remain stable at around 7 to 8 percent.

The Nazca Lines. Nazca, Ica Perú.




"The Spider"




  The Nazca Lines
  • It finally happens: Apple  announces it has entered into a multi-year deal with China Mobile to offer the iPhone to China Mobile's 760M subs. The iPhone 5S and 5C will be available via China Mobile's retail network, as well as Apple's Chinese stores, on Jan. 17. Pre-registrations start on Christmas. 
  • Importantly, the phones will work on both China Mobile's new 4G TD-LTE network (just coming out of trial mode), and its existing 3G TD-SCDMA network. Either network would offer a major speed improvement for the tens of millions of existing China Mobile iPhone users currently forced to rely on 2G connections, provided they upgrade.
  • Analyst estimates for incremental first-year iPhone sales have ranged fromlessthan 10M to as many as 24 M, and estimates for the 2014 EPS benefit have often been in the $2-$4 range.
  • While China Mobile's giant subscriber base and retail reach translate into a major growth opportunity, its low ARPU and the popularity of cheap and large Android phones in China will act as headwinds. Whereas the iPhone 5C starts at an unsubsidized price of ~$735 in China, app analytics firm Umeng estimates Chinese Android phone sales carry an average unsubsidized price of just $233.

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