Category: News Desk

Young Chinese The Wealthiest In Asia


 A recent survey by HSBS has found that China has the highest number of “young-and-rich” in Asia. Furthermore, HSBC has found that investment in assets within the region is increasingly popular as a way to increase wealth. 

According to the HSBC Holdings Plc report, which covered 8 asian economies including China, Hong Kong, Indonesia, Singapore, Malaysia, India, Taiwan and Australia, the average age of people in China with liquid assets worth at least 500,000 yuan (US$78,400) is 36, compared to 48 in Indonesia.

US Line Up US$6 Billion Deal to Upgrade Taiwan’s Fighter Jets


The Obama administration will upgrade Taiwan’s existing fleet of F-16 fighter jets in a deal worth up to US$6 billion, said a senior US official to Reuters on Tuesday.

The decision came after Taiwanese President Ma Ying-Jeou had previously requested for 66 new C/D models of the Lockheed Martin F-16 fighters jets to replace its current A/B jets that were sold by the US to Taiwan in 1992.

World’s Cheapest Car Gets US$4.6 Million Makeover


 

The world’s cheapest car, the Tata Nano, has been transformed overnight into one of the planet’s most expensive models in a publicity stunt that celebrates India’s 5000 years of jewellery tradition and craftsmanship.

On Tuesday, Ratan Tata, chairman of the Tata Group, unveiled a jewel encrusted model named the GoldPlus Nano, which is essentially a Tata Nano covered entirely in gold and jewellery.

Prada Earnings Leap By 74%


 Italian fashion house, Prada, reported a 74% gain in first half profit, beating its own forecast in its June listing prospectus, driven by surging demand in Asia. 

The company, Prada Group, posted an “outstanding” net profit of €180 million in the six months to July, more than the €103 million for the same period a year ago.

The Italians Have Been Downgraded


 

Global markets are bracing themselves for another bloodbath after S&P downgraded Italy. The country is the third largest economy in the eurozone, but also holds the second largest debt in Europe with a debt burden of 120% over its GDP. 

Italy’s long term debt rating was cut from A+ to A, the first downgrade since October 2006. According to S&P, the outlook for the Italian market was negative, a sign that the credit rating agency could further downgrade Italy. 

The Future of Transport? Heathrow Airport Launches Automatic Laser-guided Travel Pods


The future is, apparently, now. Barely two years ago, automatic travel pods were just part of an exhibition on the future of transport held at London’s Science Museum. Today however, they are now part of a revolutionary system adopted by Heathrow Airport to transport passengers from its terminals to the business car park 3.8km away in just five minutes.

South Korea Grows Stem Cell Industry With US$90 Million Investment


South Korea’s President Lee Myung-bak has promised to invest 100 billion won (US$90 million) into stem cell research next year, in order to revitalise an industry that was severely affected after a cloning scandal nearly five years ago.

During his biweekly radio address on Monday morning, President Lee told the public that the government was ready to develop an industry that is seen to be a “new growth engine” for the country’s economy.

Wall Street Blocked As Demonstrators #OccupyWallSt


New York City police may continue to restrict access to Wall Street for a third consecutive day, requiring workers and residents to present their identification after protestors staged a peaceful weekend demonstration at New York’s financial district. 

Key Economic News To Watch This Week


 

 A quick preview of the key economic events for the upcoming week:

Monday, 19th September

U.S. President Barack Obama attends the UN general assembly in New York. 

World Trade Organization holds its annual public forum in Geneva. Key issues to be discussed include trade policy and growth.

International Monetary Fund and Greek business leaders gather in Athens for an open discussion about the future of Greek debt. 

Infographic: Media Consumption Habits – A Generational Breakdown


Regardless of our age or social background, we are continuously exposed to media outlets that we use to fulfill our own purposes. However, depending on our age and our varying ability to access these media channels, we have been using them in different ways at different times of the the day.

How do the different generations (Baby Boomers, Generation X, Adult Millennials, Teen Millennials, and iGen) vary in terms of their media consumption and what patterns emerge at specific times of the day?