US ups military presence in Philippines, Asia-Pacific

THE military and defense leadership have confirmed that there are moves to increase US military presence in the Philippines and in other parts of the Asia-Pacific to ensure peace and stability in the region in view of China’s stepped-up military build-up, particularly in the West Philippine Sea or South China Sea.

“Well, unang-una, totoo gusto ng kwan [United States] magkaroon ng presence dito sa region, kaya nga naglagay sila ng base sa Australia. Maglalagay din [sila] ng magdadaong ng barko sa Singapore [Well, it is true that the United States wants its presence felt in the region, that’s why they put up a base in Australia. They will also put ships that would dock in Singapore]” Defense Secretary Voltaire Gazmin said on Thursday.

Link (submitted by Quirino)

Brazil to Grant Work Visas to Haitians

"BRASÍLIA (AP) — Justice Minister José Eduardo Cardozo said Tuesday that Brazil would grant visas to thousands of Haitians who arrived recently in remote areas of the Amazon seeking work.

The government said it would propose allowing a limited number of additional Haitians to come to Brazil — as many as 100 a month — by granting them temporary visas. But the government also made clear that it would step up the policing of Brazil’s borders with Colombia, Peru and Bolivia, where the Haitians are crossing."

Link (submitted by Kara)

Sweden tops Global Creativity Index

"In the Global Creativity Index by Martin Prosperity Institute, Sweden was ranked in top. USA, Finland, Denmark and Australia was placed 2-5. 

The study by the Martin Prosperity Institute ranks 82 countries on their creativity. It turns out that creativity is a driving force in the economy: the study found great correlations between creativity and economic progress, human development, and happiness, among other factors."

Link (submitted by Richard)

Abu Dhabi fund to invest in infra

NEW DELHI: The Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, has expressed keen interest in entering the Indian market and may invest in the country's key infrastructure sector. 

Sheikh Hamed bin Zayed Al Nahyan, managing director of ADIA, met commerce, industry and textiles minister Anand Sharma on Monday to discuss opportunities of investment in India. Both sides agreed to finalize a joint working group to expedite the process. "This is an opportunity to enter this huge market," Al Nahyan said. 

Link (submitted by Jordan)

Hong Kong falls in most expensive cities ranking

"Before it got permanently labelled as among the most expensive places to live on the planet, Hong Kong took a dramatic fall in global rankings — from 33rd in 2010 to 45th last year. This is according to a study made by the human resources consultancy ECA International. 

The global chart showed Tokyo as the most priciest places to live, followed by Oslo. Soaring inflation didn’t matter much as Hong Kong fell from sixth to seventh in Asia after Tokyo, Nagoya, Yokohama, Kobe and Singapore."

Link (submitted by Johannes)

UK unemployment increases by 118,000 to 2.69m

"UK unemployment rose by 118,000 in the three months to November to 2.69 million, official figures show. 

The Office for National Statistics (ONS) said the unemployment rate also rose to 8.4% from 8.3%, the highest since January 1996."

Link (submitted by Will)

Aftershocks will delay Christchurch rebuild

"The pre-Christmas aftershocks will delay the rebuilding of Christchurch by a few months, the Reserve Bank believes. 

Governor Alan Bollard, in a speech to the Canterbury Employers Chamber of Commerce yesterday, said the bank expected a gradual lift in activity over 2012, including demolition and repairs to housing and infrastructure, but that it would be next year before reconstruction got under way in earnest. By 2014 and 2015 it will be boosting economic activity by more than 1.5 per cent a year, the bank forecasts."

Link (submitted by Trent)

People ‘went mad’ borrowing during boom

"PEOPLE "went mad" borrowing during the boom fuelling the resulting crisis, Taoiseach Enda Kenny said at the World Economic Forum in Davos, Switzerland today. 

He was explaining how Ireland’s economy went from boom to a spectacular bust."

Link (submitted by Lauren)

Inflation figures boost share market

A rally in banking stocks helped the local share market close higher today after tame inflation numbers indicated interest rates could be on the way down next month.

The figures from the Australian Bureau of Statistics showed the Consumer Price Index was flat in the three months to December thanks largely to falls in banana prices as well as the costs of imported goods.

Link (submitted by Jason)

VW eyes 2012 merger with Porsche

News weekly Der Spiegel wrote in its upcoming issue that VW, which owns 49.9 percent of Porsche, could buy the 50.1 percent stake in the manufacturer of the iconic 911 car for €3.9 billion ($5.0 billion) in 2012.

Link (submitted by Japhet)

Taiwan offers baby bonus to fix plummeting birth rate

"It is, says the president, an issue that threatens Taiwan's very existence. Authorities are mustering every weapon to see the problem off: from money to Chinese astrology and blind dates for its citizens. The island's plummeting birth rate is one of the lowest in the world, experts say, prompting a warning from the president himself, Ma Ying-jeou, that it is 'a serious national security threat'."

Link (submitted by Anna)

South African Stocks: Allied Technologies, AngloGold, Jasco Move

"Jan. 20 (Bloomberg) -- The FTSE/JSE Africa All Share Index advanced for a fifth day, its longest rally since October, adding 0.4 percent to 33,703.38 by the close in Johannesburg. The index has gained 2.4 percent this week."

Link (submitted by Andrew)

Q&A: Following Instinct From Amsterdam to Moscow

"'By the time I get a chance to think about my decisions, I've already made them in my gut,' Jan-Wilm Rovers said, crossing under the inflatable Father Frost that sits above the door to his office — one of 25,000 products sold by Koopman International RUS, the trading company where Rovers is chief executive. 

Rovers' willingness to rely on instinct, rather than conventional wisdom — which says Russia is too dangerous and unpredictable for foreign investors — has allowed him to identify and seize opportunities in the former Soviet Union since shortly after the Berlin Wall fell."

Link (submitted by Sun Jin)

Hong Kong exchanges to change tack, intensify effort to capture China commodity demand

"The operator of Hong Kong's stock exchange said it will look to commodities for growth as opportunities in the equities market slow, and as the window for capturing China's explosive commodity demand narrows, marking a radical strategy shift for the world leader in initial public offerings."

Link (submitted by Johannes)

Men ALLOWED to beat their wives and young children (as long as they don't leave any marks), rules UAE court

"Husbands are allowed to beat their wives and children - as long as they don’t leave any physical marks, an Islamic court in the United Arab Emirates has ruled. 

The astonishing legal ruling gives all husbands and fathers in the ultra-rich Gulf state the 'right to discipline' female family members if they have first attempted reconciliation."

Link (submitted by Jordan)

Why the Chancellor wants China's cash

"Perhaps the most important cause of our economic malaise is that for years as a nation we have been living beyond our means, in deficit with the rest of the world, buying from other countries far more than we produce, till our indebtedness became unsustainable.

By contrast China has been consuming far less than it produces, accumulating vast surpluses."

Link (submitted by Will)

Bikes bring more money than wood from Rotorua forest

"The economic value of mountainbiking in Rotorua's Whakarewarewa Forest has been estimated at five times its annual timber revenue and looks set to increase as promotions raise awareness of what is on offer. 

A study by Crown Research Institute Scion shows the median annual recreational value of mountainbikers using the forest is $10.2 million - well above the $4.6 million earned through export revenues."

Link (submitted by Trent)

PH economy struggles amid crisis in major economies

MANILA — The Philippine economy struggled under the weight of weak public spending and the crises — financial and natural — in the world’s major economies, but has remained resilient in the first full year of the Aquino Administration, according to Iris C. Gonzales of thePhilippine Star.

Link (submitted by Quirino)

DPP should update cross-strait policy: Hsu

"The China Post--Former Democratic Progressive Party (DPP) chairman Hsu Hsin-liang (許信良) yesterday urged the party to build Tsai Ing-wen's cross-strait policy into its official platform.

Tsai ran a great campaign that faltered only in the last mile — that is, when it came to cross-strait policy, said Hsu."

Link (submitted by Anna)

HK electricity rate hike favors business over households

"LP Power, one of Hong Kong’s major energy providers, has made an adjustment where households in Kowloon, New Territories and Lantau island will pay up to 20 percent for electricity. But this appears to be biased towards businesses, who face a tariff increase of less than half of that."

Link (submitted by Johannes)

Sweden plans to be world's first oil-free economy

"Sweden is to take the biggest energy step of any advanced western economy by trying to wean itself off oil completely within 15 years - without building a new generation of nuclear power stations. 

The attempt by the country of 9 million people to become the world's first practically oil-free economy is being planned by a committee of industrialists, academics, farmers, car makers, civil servants and others, who will report to parliament in several months."

Link (submitted by Richard)

Build the start-up ecosystem and the entrepreneurs will come

"Dublin’s case to become Europe’s answer to Silicon Valley is ‘come for the money and stay for the supports and networking’ – and it’s working, writes GORDON SMITH 

WAS IT JUST a coincidence that the winners of two Irish technology start-up competitions in 2011 both originated from outside Ireland? Maybe, but in the same year that a €10 million fund was launched to attract international entrepreneurs to these shores, it starts to look like part of a bigger plan."

Link (submitted by Lauren)

Beer 'must be sold' at Brazil World Cup, says Fifa

Beer must be sold at all venues hosting matches in the 2014 World Cup in Brazil, football's world governing body, Fifa, has insisted. 

Fifa General Secretary Jerome Valcke said the right to sell beer must be enshrined in a World Cup law the Brazilian Congress is considering. 

Alcoholic drinks are currently banned at Brazilian stadiums and the country's health minister has urged Congress to maintain the ban in the new law. 

Brewer Budweiser is a big Fifa sponsor.

Link (submitted by Kara)

Australia Registers Worst Year for Employment Since ’92

Jan. 19 (Bloomberg) -- Australia unexpectedly lost jobs for a second straight month in December, capping the nation’s worst year for employment in almost two decades and weakening the local currency as traders raised bets on interest-rate cuts.

Link (submitted by Jason)

Public anger and shareholder unease threaten tax havens’ tranquillity

"UNDER intense international pressure to lift banking secrecy, the first and biggest of the world’s “tax havens”—places that charge low or no taxes to foreigners—is ceding some ground. In a deal signed on October 6th, Switzerland agreed to tax money held in its banks by British residents (it had already done a similar deal with Germany). These customers face a levy of up to 34% as well as, from 2013, a withholding tax."

Link (submitted by Leo)

Last GM crop developer leaves German soil

"BASF, the last firm still developing genetically modified crops in Germany is stopping its work, admitting defeat in the face of widespread European opposition to to the idea."

Link  (submitted by Japhet)