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Saturday, July 19, 2008

This year’s Leisure Taiwan trade show (a.k.a Taiwan Sport Recreation and Leisure Show) started yesterday, with 131 companies participating including sports media companies such as ESPN and VideoLand Television, businesses selling sports equipment and fitness clubs.

There were also a variety of sports being played in the arena built for the trade show. The events included a 3-on-3 basketball tournament, free style shooting, and bicycle test-riding. In addition, conferences discussed issues related to sports and physical education.

A major topic in the trade show was energy-efficiency and, as a result, bicycles and similar sports equipment were being heavily promoted.

Next Tuesday, companies from the electronics industry plan to promote their industry at “2008 Digital E-Park.” In previous years, organizations from the electronics industry have showcased their products at Leisure Taiwan instead of at the Digital E-Park, so this move has reduced the number of markets covered by Leisure Taiwan.

Saturday, July 15, 2017

On Wednesday, Italian football club Juventus announced an agreement with German club Bayern Munich for a one-year loan of Brazilian winger Douglas Costa for a fee of €6 million, to run until June 30, 2018.

26-year-old Douglas Costa joined Bayern in 2015 under Pep Guardiola’s management from Ukrainian club Shakhtar Donetsk. In two seasons at the Allianz Arena, Costa has scored fourteen goals and provided 27 assists, making 77 appearances in total. He won two consecutive Bundesliga titles, a DFB Pokal, and a DFL-Supercup. Before joining the Bavarian club, the left-footed winger won five consecutive Ukrainian Premier League trophies.

In the agreement with Bayern, Juventus can exercise an option to buy the player for €40 million before July 1, 2018. Bayern may receive an additional €1 million subject to conditions in the contract. Bayern Munich’s chairman Karl-Heinz Rummenigge said, “We had serious and constructive talks with Juventus’ representatives. All of FC Bayern’s financial demands have been met”.

Upon asking why he joined Juventus, Costa told the Juventus’ interviewer that he “had always dreamed of playing” with the Old Lady and said he was “delighted to be part of” Juventus’ team.

Friday, July 1, 2005

A section of the rail tunnel outside Gerrards Cross Station in Buckinghamshire collapsed at around 8 p.m. last night. No-one was injured. 20 metres of concrete tunnel and gravel collapsed onto the Chiltern to Marylebone line, closing the railway and causing much disruption.

The tunnel was created by the supermarket chain Tesco, who had filled in a railway cutting in order to build a supermarket above it. The project was unpopular both among the local community and the rail industry who felt the project put commercial gain before railway safety.

The accident came hours after another rail accident in East Yorkshire, where a train collided with a car at a level crossing, killing the driver of the car and injuring five train passengers.

Thursday, September 20, 2007

The U.S. economy and its currency as an instrument of world trade has suffered a series of major setbacks in recent months. Some analysts say that the Federal Reserve‘s September 18^th dramatic rate cut to 4.75% from 5.25% may be a case of “too little, too late”, or that it was excessive and dooms the dollar.

Today, Saudi officials declined to cut interest rates in lockstep with the US Federal Reserve for the first time in decades. According to Ambrose Evans-Pritchard, International Business Editor for The Daily Telegraph, “it’s a signal that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.”

Hans Redeker, the Currency Chief at BNP Paribas, also stated today that Saudi Arabia’s move to not adjust their own interest rates in sync with the Fed’s cuts is a very dangerous situation for the US dollar. Redeker points out that “Saudi Arabia has $800bn (£400bn) in their future generation fund, and the entire region has $3,500bn under management. They face an inflationary threat and do not want to import an interest rate policy set for the recessionary conditions in the United States.”

Saudi central bank officials said that “appropriate measures” would be taken to stop the large capital inflows into the country. The Federal Reserve’s half-point rate cut has already caused a plunge in the world dollar index to a fifteen-year low, reaching the weakest level ever against the Euro at just under $1.40.

The Fed hopes that by making it cheaper to borrow, people will start spending and investing more. However, some analysts fear the cut will worsen inflation, making it harder to get personal loans, and further decrease confidence in the dollar around the world. There are already signs that global investors have started rejecting U.S. Treasury securities, and recent U.S. government data on foreign holdings show a decline in purchases of US securities from $97bn to just $19bn in July.

In response to Ben Bernanke‘s statements today about a potential mortgage and housing market crisis, CNN anchor Wolf Blitzer said, “If adjustable mortgage rates go up, people may not be able to afford their mortgage payments.” Former Federal Reserve chief Alan Greenspan said earlier this week that housing prices may fall by “double digits” as the subprime crisis bites harder, prompting households to cut back sharply on spending.

Jim Rogers, the economic commentator and former partner of George Soros, stated, “If Ben Bernanke starts running those printing presses even faster than he’s already doing, we are going to have a serious recession. The dollar’s going to collapse, the bond market’s going to collapse. There’s going to be a lot of problems.”

In recent months, the U.S. dollar has taken several other significant hits including Kuwait’s decision in May to also break its dollar peg, and threats by China to interfere with the U.S. economy, calling it their nation’s “nuclear option”. According to public sources, the Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions that seek to force a Yuan revaluation.

Wednesday, June 7, 2006

The Western Australian (WA) Environmental Protection Authority (EPA) has advised against the massive Greater Gorgon liquefied natural gas project off WA’s Pilbara coast. Proponents of the projects say Gorgon is one of Australia’s biggest export ventures, scheduled to provide up to 6,000 jobs and exports of up to $1.2 billion.

EPA chairman Dr Wally Cox said the Gorgon project operators (Chevron, ExxonMobil, and Shell), had made an effort on flora and fauna issues but in its present state, the Gorgon proposal was “unacceptable.” Gorgon LNG general manager Colin Beckett said that Gorgon was a world-class gas field and that the joint venture partners were confident that the decision would be reversed.

Environment Minister Mark McGowan said there was a definite process to be followed. The Minister says he will make a final decision on the Gorgon proposal after considering the EPA report – and any subsequent report from the Appeals Convenor. The EPA recommendations on the Gorgon proposal are subject to a two-week appeals period.

The EPA’s Dr Cox said that joint venture had “not been able to demonstrate that impacts from dredging, the introduction of non-indigenous species and the potential loss of fauna could be reduced to acceptable levels.”

In September 2003 the WA government provided “in-principle agreement” to the Gorgon joint venturers subject to a number of conditions. Dr Cox said that the Environmental Review and Management Programme had further highlighted the terrestrial and marine conservation values of Barrow Island and the adjacent waters.

“Flatback turtles in particular would be put at risk from the proposal with two of the most important nesting beaches located adjacent to the proposed LNG processing plant site and the materials off-loading facility,” Dr Cox said. “There is very little science available on the life-cycle, behaviour and feeding habits of Flatback turtles and as a consequence it is not possible at this time to identify management measures that would ensure ongoing survival of this Pilbara Flatback turtle population.”

Dr Cox also said that the Proponent had not been able to demonstrate that risk could be reduced to satisfactory levels in the areas of: Impacts on the marine ecosystem from dredging; The introduction of non-indigenous species; Potential loss of subterranean and short range endemic invertebrate fauna species. “As a result, the proposal in its present form cannot meet the EPA’s environmental objectives and is considered environmentally unacceptable,” Dr Cox said.