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What’s the world coming to? Civil servants working for RBS Coutts in Singapore are walking out because of the lack of bonus prospects! What next? A strike by the meter maids?This from Reuters:Third of staff at RBS Coutts Singapore quitLack of bonuses prospects said to be a factorA third of the staff of the Singapore ...
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For those who may wish to stag on the latest IPO coming from companies like Ziwo Holdings (”We Are Different!”), may want to consider the BT article: “New listings face up to harsh realities”More initial public offerings (IPO) are on their way to charm the stockmarket, but they may get the cold shoulder from investors ...
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Readers are going to be seeing a lot of numbers and interpretations coming out over the next few days on what the September trade numbers actually mean. As far as I can tell, we’re seeing another data point to support the “We’re recovering because we’re getting worse at a slower rate” theory.From the BT:Singapore’s key ...
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This is probably one of the clearest explanations available out there – better than Zeitgeist, in fact – on the origins of the fractional banking system, why you should always let your babies grow up to be bankers, and why you – the consumer – will always be a slave to DBS, UOB and OCBC.i.e. ...
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“Relax One Corner.” That – in a nutshell – seems to be the local kopi drinking mentality that has rubbed off on the regulators at SGX, who really need to spend a little less time at Ya Kun, and a bit more time “regulating”.This from BT: FEW would bat an eyelid to see two Singapore-listed ...
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The language is turning nastier. Apparently, the sovereign debt crisis which started in Greece (how much do you need, by the way? 120 billion Euros??) is now an ‘Ebola’ contagion that threatens both good and bad. Doesn’t matter if you’re a high-living Grecian crack abusing addict who runs over puppies with your Ferrari, or a ...
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When the Yakuza has to go for the local gangsta equivalent of SPUR and jobs re-training, you know the economy is in some serious shizzle. From the Mainichi Daily News:Yakuza group forcing members to take ‘gangster exam’OTSU — Japan’s largest and most notorious organized crime group, the Yamaguchi-gumi, is forcing members to take a “gangster ...
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Notwithstanding the global equities top being called, and the Stuyvesant Town flip that’s turning Titanic, the ‘long-term investors’ at GIC and Temasek are now planning to sink a total of US$100 million of our HDB money into China property through Longfor Properties Co.From WSJ “Temasek, GIC buy Longfor Shares”:Singapore state-owned investment …
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Surprise, surprise. SPH announces a 12% drop in topline print revenues, but realizes that it can make up for the slack with residential property development. Which now means that SPH will be joining the ranks of Aztech and Popular as property speculators, given the crappy state of their core businesses.Here’s what JPM thinks of SPH’s ...
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Now that the fit has hit the shan for Transcu shareholders, here’s a free public service announcement on behalf of the ‘regulators’ at SGX, who are still on an extended team-building holiday to learn how to locate own rear ends.Note: I didn’t bother adding in my standard 88/120/200 MAs for this baby, since I didn’t ...
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Courtesy of NY Mag:T Minus Four Months Until Stuyvesant Town DefaultsThis morning, The Wall Street Journal reports what people have been saying for a while now: that the investment group headed by BlackRock and developers Tishman Speyer that bought Stuyvesant Town and Peter Cooper Village in 2006 for $5.4 billion is going to run out ...
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Singapore is on the verge of exiting OECD “grey” list of nations – defined as those who are considered tax havens, no matter what local politicians might be saying. We are one agreement away from moving into the vaunted white list, with Switzerland having arrived much earlier, having sold out 4400 as part of a ...
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The man who predicted 2007 back in 2005 is back with some more doom and gloom. Not surprisingly, his view centers around the massive USD carry trade that’s fueling speculation in all sorts of risky assets, and the bubble it creates.Dr. Nouriel Roubini, professor of economics and international business at the Stern School of Business ...
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Here’s a huge surprise (not). It turns out that hedge funds are making money by cultivating a network of well connected insiders, and making bets on information not generally available to the public.* sound of deep thought *Anyway, here’s the Bloomberg article “Galleon Not Good News for Hedge Funds”The Galleon Group insider-trading investigation may …
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Wow. The same guys who “regulate” at SGX must the same guys who worked all of 5 minutes on this press release to BT, in response to SGX’s Relax One Corner attitude towards regulation.Here’s what SGX has to say:WE refer to the Hock Lock Siew column, ‘When in doubt, regulators should query?’ by Jamie Lee ...
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With Sony and Toyota moaning about how the strong Yen is killing their business, it should come to no surprise when Asia countries quietly intervened in the markets to buy up USD. This from WSJ:U.S. Stands By as Dollar FallsThe dollar fell to a 14-month low against other currencies Thursday, intensifying a trend that the ...
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From SCMP today “Mainland defaulters sting small investors”. For readers who want more details of the sad and sordid screwjobs conducted by Chinese triads businessmen on Singaporean savings, you may refer to this.China may boast dazzling economic growth but that has failed to translate into profits for some bond holders and thousands of small investors ...
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Almost missed this one: “EU imposes duties on pipe and foil from China”The European Union on Thursday decided to impose a five-year official anti-dumping duty on seamless steel pipes and aluminum foil from China. The tax rates are 39.2 percent and 30 percent, respectively.The Ministry of Commerce has been opposed to the new tarrifs since ...
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SGX’s head of risk management explains her approach toward market regulation: press ‘print’ for a mail merge document, and spend the rest of the day (at SIAS events and Yakun outlets) complaining why her job is so damn hard.From BT “SGX: Public rap for misconduct is enough”IT is enough at this point for the Singapore ...
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