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Samsung forecasts 4 percent drop in 2Q profit

Pic: AP. SEOUL, South Korea (AP) — Samsung Electronics Co. forecasts its second-quarter profit has dropped 4 percent from a year earlier. The maker of Galaxy...

Real estate warms up as foreigners permitted to buy houses

VietNamNet Bridge – By ratifying the revised Housing Law, allowing foreigners to buy houses in Vietnam, the National Assembly has helped the rich...

4 Charts That Show How Huge Candy Crush Is On The Cusp Of Its IPO

King, the maker of match-three game Candy Crush Saga, filed for its initial public offering earlier today.  In King's filing, it has a slew of graphics and charts to show off its metrics and revenues.  Let's take a look at some of the key stats in King's filing.  King has a library of mobile "Saga" games, but the most popular is clearly Candy Crush Saga, which has 93 million daily active users.  Across all of King's titles, its users play more than 1.2 billion games per day.The majority of King players are on Candy Crush Saga. In December 2013, 128 million daily active users on average played its games more than 1.2 billion times per day. But it's monthly unique players were down in Q4 2013, which should've been a huge quarter given that a lot of people probably got new smartphones and tablets for the holidays.King's revenues jumped from $70 million in Q4 2012 to $602 million in Q4 2013. But it's worth noting the slight dip in revenue from $621 million in Q4 2013. SEE ALSO: Finally, The Truth About Candy Crush: It Has Peaked And Is In Decline Join the conversation about this story »    

Businessman accuse Binh Duong Chair of breaking rules

Huynh Uy Dung, the boss of Binh Duong-based Dai Nam Tourist Site, has lodged accusations against the Chairman of Binh Duong to the Prime...

Vietnam Upholds Fish Farmer’s Sentence in Land Clash

Read the rest here: Vietnam Upholds Fish Farmer’s Sentence in Land Clash

Chinese Checkers

With rising wages, tight credit and bubbles, China’s growth model is hitting a turning point – investors hunt for signs of economic and political reform Klemens von Metternich famously said when France sneezes, Europe catches a cold.

That was long before the global economy was inextricably interdependent, before China emerged out of its isolation to become an engine of global growth.

Today, GDP figures released in Beijing take only minutes to cause tremors in international stock markets. With billions of dollars invested in the China growth story, the world’s stake in the Chinese economy is not very much less than that of its leaders in Zhongnanhai. Reports that China’s manufacturing index contracted for the first time in seven months saw markets tumble.

Then a market-friendly speech by China’s new premier Li Keqiang buoyed up spirits. He called for reducing red tape by freeing 33 per cent items from China’s License Raj. He declared, “The market is the creator of social wealth and the wellspring of self-sustaining economic development.” This was music to the ear of investors.

The implicit admission is that public-sector investment and export driven growth that had long propelled China has run its course. Is market reform finally coming? The situation today is more urgent than when a booming world economy could happily absorb the gushing torrent of China’s exports. Not only is demand for Chinese products shrinking in a recession-bound Europe and slowly-growing US, China’s domestic factors are less favourable for relying on the old policy.

The government controls interest rates and its artificially low exchange rates and energy prices have distorted the economy, resulting in a huge misallocation of capital.Meanwhile, its greying population and rising wages are now putting downward pressure on exports. Investment in infrastructure and housing do not create the kind of consumer demand needed to replace falling demand overseas. A recent IMF report on China noted that “expanding agriculture and services including investing in healthcare, education and financial services are likely to be more important instead of building more factories to supply steel, cement and appliances for foreign consumers.” The kind of investment that China needs to make, the IMF economists pointed out, “will be possible only through financial sector reform, making liberalisation of this sector an urgent issue.” Li has proposed giving private businesses a larger role in investment decisions and setting prices. He promised to liberalise bank lending policy, to encourage private investment in finance, energy, railways, telecom and other spheres.

The government also held out the promise of opening finance, healthcare, logistics and other sectors to foreign investment. China’s growth model has reached a turning point, but reforming it is not just a matter of readjusting the economy. It touches on the fundamentals of a one-party state. It is not surprising that despite incessant talk of the need to rebalance the economy, there has been little progress.

Reforms would mean curbing the power and privileges of state-owned enterprises run by China’s Red Princes and families. But the alternative, as outlined by the IMF report, is not attractive either. “If existing trends continue, valuable resources could be wasted at a time when China’s ability to finance investment is facing constraints due to dwindling land, labour, and government resources and becoming more reliant on liquidity expansion, with attendant risks of financial instability and asset bubbles.” Put another way, doing nothing is a sure recipe for popular discontent and instability. Yet, China has a record of biting the bullet and undertaking painful reforms when survival is at stake. Growing discontent over economic disparity, air pollution, concerns about food security and unemployment (7 million students will graduate this month) might just push the government into translating words into action. And even a modest opening to the private sector could energise foreign investment and create a worldwide impact.   The author is director of publications at the Yale Center for the Study of Globalization and editor of YaleGlobal Online.

Samsung Galaxy S4 Delayed On T-Mobile Until April 29 (DT)

In a message on its website, T-Mobile announced that the Samsung Galaxy S4 will be delayed until April 29.

The company blamed supply issues. We first spotted the news comes to us

Tubbataha Reefs More Intact Than Feared

The rest is here: Tubbataha Reefs More Intact Than Feared

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Coronavirus Disease 2019 (COVID-19) situation in Thailand as of 28 July 2020, 11.30 Hrs.

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JAKARTA, 24 July 2020 – The launch of the Higher Education for ASEAN Talents (HEAT) Scholarship Programme took place through an online ceremony...