Evergrande real estate firm makes missed September bond payment, avoids default

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Evergrande real estate firm makes missed September bond payment, avoids default
March 17th, 2022 in Uncategorized | No Comments

Saturday, October 23, 2021

China property giant Evergrande Group wired USD83.5 million in interest owed in an offshore bond from September 23 on Thursday, temporarily averting default, according to a Reuters source and Chinese newspaper Securities Times.

The wire to a Citibank fiduciary account following a 30-day grace period came after assurances by various members of the Chinese government, Reuters reported. At a Beijing forum Wednesday, Chinese Vice Premier Liu He described the risks as controllable, and chairman of the China Securities Regulatory Commission Yi Huiman said that while authorities needed to curb excessive debt more broadly by “improv[ing] the effectiveness of the constraint mechanism on debt financing”, the matter would be dealt with properly.

Once China’s top real estate developer, Evergrande had accumulated approximately USD305 billion in liabilities, two per cent of the Chinese gross national product, after “dwindling resources” cut its value by 80%, according to Reuters. September data revealed Chinese home sales by value fell by nearly 17% year-on-year, according to The Guardian, and fears over its default led to a slowdown in China’s third quarter GDP growth to a year low of 4.9%. Two sale negotiations with rival developers Hopson Development and Yuexiu, valued at USD2.6 billion and USD1.7 billion, respectively, were suspended, reportedly due to a lack of consent by the government of Guangdong province currently overseeing Evergrande’s restructuring.

News of Evergrande’s remittance caused its shares to rise by as much as 7.8% this morning after a two-week pause in trading for the anticipated sale of 50.1% in Evergrande Property Services Group, and offering some reprieve for bondholders, according to Reuters. Portfolio manager at GaoTeng Global Asset Management James Wong, interviewed by The Guardian, called the news “a positive surprise”, adding “[i]f Evergrande pays this time, I don’t see why it won’t pay the next time.” Jun Rong Yeap for IG Asia pte., interviewed by Bloomberg, said the report “overturned” the narrative “that Evergrande will face difficulty in securing cash ahead”.

Further missed payments are due October 29 and November 11 after similar 30-day grace periods; including yesterday’s USD83.5 million, nearly USD280 million is owed to bondholders.

Stocks have been down for many major Chinese developers: Reuters Wednesday reported year-to-date stock prices fell 87.8% for Sinic Holdings, currently in Fitch Ratings’ ‘restricted default’ after failing to make an October 18 bond payment valued, according to The Guardian, at USD246 million; 80.2% for Evergrande itself; 78.3% for E-House, 58.5% for Fantasia Holdings and 54.6% for Kaisa Group, which defaulted in 2015 and had bonds reach record lows.

Estimates of the Chinese real estate market’s size range from 16 to 25% of the Chinese gross domestic product, according to The Guardian. Chinese President Xi Jinping’s aim to transform the country’s economy from one of debt-fuelled “inflated” growth to one of improved “quality and returns” included imposing regulations on developers that limited their capacity to borrow. A Guardian comment piece from economist George Magnus published on October 15 made reference to China’s “ghost cities” and “rampant credit creation” that has given rise to high vacancy rates and the “financialisaton of housing”.

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13 schools torched in southern Thailand

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13 schools torched in southern Thailand
March 16th, 2022 in Uncategorized | No Comments

Thursday, June 14, 2007

In an apparent coordinated attack, 13 schools were set ablaze late yesterday in southern Thailand, an escalation of violence that authorities are blaming on Muslim insurgents.

The 13 schools were burned in Pattani and Yala, two of the three restive, Muslim-majority Thai provinces on the border of Malaysia.

On Monday in the third province, Narathiwat, three teachers were fatally shot. Two female teachers, both Buddhist, were fatally shot while on lunch break at Bansako School in Si Sakorn. A male teacher from another school was gunned down while buying cigarettes at a store in Ra-ngae. On Tuesday morning in Yala’s Raman district, a 60-year-old Muslim teacher was fatally shot in his pick-up truck on the Raman-Balo road.

Since 2004, more than 200 schools have been burned in arson attacks and 77 teachers killed, education officials say. About 110 schools in Narathiwat and Yala provinces have been temporarily closed, while officials re-assess the security situation.

Teachers and schools, potent symbols of the Buddhist majority Thai central government, are prime targets in the Muslim insurgency in south Thailand, which has seen a steady escalation since 2004, with almost daily fatal shootings and bombings, killing more than 2,300 people.

School staff called on the government to provide better security. Many teachers travel with armed escorts, or have taken to carrying firearms themselves.

“We want school compounds to be safe areas for teachers. Today we have no safe areas for teachers, be they houses, communities or schools,” Vicharn Athikapan, chairman of the Confederation of Southern Teachers, was quoted as saying by the Bangkok Post yesterday. “Although it is difficult to deploy soldiers to protect teachers at schools, the state must do it.”

Today, a Royal Thai Army soldier was seriously injured in the explosion of a roadside bomb, which was placed opposite a vocational college in Narathiwat.

Late yesterday evening (local time), a 44-year-old man was killed in a drive-by shooting in Yala. Earlier, in Narathiwat’s Rueso district, three men were fatally shot, and one was beheaded. The beheading was the 10th this year, and one of 25 in southern Thailand since 2004.

Also yesterday, one soldier was killed and another injured in a roadside bomb near a school in Thung Yang Daeng, Pattani. Another soldier was killed and six others injured in Pattani’s Yarang district when a roadside bomb ripped through the pickup truck they were riding in.

On Tuesday in eastern Thailand‘s Sa Kaeo Province, on the border with Cambodia, police detained 15 Cambodian Muslims after one of the group was found to be carrying items that could be used to make bombs.

The owner of the bag told police he was carrying the items for a friend in southern Thailand, and were to be used to make explosives for catching fish. The items were seized, and all 15 men were sent back to Cambodia.

The incident follows a diplomatic flare-up last weekend between Thailand and Cambodia, after published comments were attributed to Thai General Wattanachai Chaimuenwong, saying Cambodian Muslims have links to the Jemaah Islamiyah terrorist organization, as well as the south Thailand insurgency.

Wattanachai, an adviser to Prime Minister Surayud Chulanont, later denied making the statements, after Cambodian Prime Minister Hun Sen issued an angry rebuke against Thai officials.

“Because of their own weakness, they are now finding others to blame,” Hun Sen was quoted as saying by the Associated Press.

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Garment Industry Information Technology Upgrades

March 16th, 2022 in Shipping | No Comments

By Frbiz Tian

Garment manufacturing technology should be understood as the traditional manufacturing technology, information technology, computer technology, automation technology and scientific management of advanced technology integrated multi-disciplinary and applied to garment manufacturing engineering, formed a complete system. It is the general trend of the development of precision, flexibility, networking, virtualization, intelligent, clean, integration, information globalization direction.

Advanced Manufacturing Technology.

Information content of advanced manufacturing technology developed by a group of one is to meet the needs of information technology equipment, digital fashion. Our existing and scale more than 100 sewing machine manufacturers, sewing equipment, parts and components manufacturers have more than 400, its production capacity and production in the sewing machine in the world.

But as far as I know, China addition to producing computer-controlled sewing machine, computerized embroidery machine, automatic bag opening machine, computer pattern sewing machines, computer-controlled spreading machine, computer-controlled three-dimensional hot machine, etc., other little digital technology equipment. Apparel art first determines the combination of its information technology approached nature. So we have to develop the digital technology and equipment and work hard to meet the clothing enterprise information requirements.

Advanced Manufacturing Technology Information content of the second is to develop and establish a number of garment manufacturing technology and advanced management technology combined with the manufacturing model and systems to personalized clothing and globalization for the two markets. As the domestic and international market competition, rapid development of science and technology, the acceleration of replacement clothing and apparel products to the diversity of people, individual needs increase, the garment manufacturing industry to more variety, small batch production custom development.

[youtube]http://www.youtube.com/watch?v=uJv1Olcem4A[/youtube]

To adapt to this change, the United States, Japan and other developed countries in a number of countermeasures proposed many new ideas, new ideas, new concepts, has born a lot of advanced manufacturing technology, the model and system. Such as agile manufacturing systems, mass customization manufacturing systems, virtual manufacturing systems, global manufacturing system, green manufacturing systems.

Domestic Application.

Currently, the domestic garment CAD, CAM, ERP, PDM and other aspects of the development and application has made great achievements, the garment enterprises in China is now the application of information technology point of view, garment enterprises, personnel, finance, office computerization in 90 % or more; garment enterprises CAD application penetration rate close to 10%; garment enterprises of various systems of enterprise management systems such as PDM, EHP, SCM, CRM applications such as close to 20%.

Two-dimensional apparel CAD technology level in China, especially in software development to keep pace with the developed countries have. However, as we now apply the two-dimensional apparel CAD technology also there are some drawbacks: not well in the Internet online transmission, can not meet the “personality” of the design requirements, from the main body three-dimensional modeling and so on. Because of this, both domestically and overseas in recent years, computer-aided to the network Fuzhuang She Ji (NAD), three-line apparel CAD, virtual garment CAD, Chao Wei Yi Ji CAD clothing design basis?? Dimensional Body Measurement Technology research in areas such as development and application of study.

Constitute the framework of information.

Modern garment enterprise information management to adhere to its development mainly to form professional computer personnel, the computer knowledge to production, management, transformation and other links, multi-disciplinary merging and technology development, supply, production, sales , services, seamless integration of business, so that on the cost, date and accurate accounting of profits and materials, capital flow, the value of the dynamic control flow.

The thinking of managers and optimize decision-making applied to the information system to meet the information technology business development. Enterprise information is a long-term, comprehensive systems engineering. Broadly speaking, its mandate includes hardware construction, software development and application of system construction and so on.

Hardware, including the Internet (Internet) connectivity, corporate intranets (Internet) of the building, scientific research, production, marketing, office and other applications, system integration or development. Software, including standards related to issues and security issues in the research and resolution, the use and operation of information systems and data of the record and update the institutionalization of people, all staff of information awareness education and information technology skills training, and information of suitable management mechanisms, business models and business process adjustments or changes.

Applications which include network platform side, information resources, software application development of three parts. In accordance with the comprehensive information technology research and development of technology fashion industry is adhering to the development of advanced productive forces, the apparel industry, information technology development of productive forces, which is a highly innovative new study of economic growth, it can most effectively The fastest way to integrate and optimize the market and the enterprise resources, produce greater social and economic benefits, can accelerate the global apparel capital flows, technology flows and personnel flow, can promote the sustained and stable economic development in the apparel industry.

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Source: isnare.com

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On the campaign trail in the USA, August 2016

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On the campaign trail in the USA, August 2016
March 12th, 2022 in Uncategorized | No Comments

Friday, September 23, 2016

The following is the fourth edition of a monthly series chronicling the U.S. 2016 presidential election. It features original material compiled throughout the previous month after an overview of the month’s biggest stories.

In this month’s edition on the campaign trail: the vice presidential nominee of the Reform Party is revealed; those attacked in a high profile campaign speech respond; and Wikinews interviews an economist seeking the presidency a second time.

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Simon’s Rock College tests Alan Turing theories with ‘Imitation Game’ experiment

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Simon’s Rock College tests Alan Turing theories with ‘Imitation Game’ experiment
March 11th, 2022 in Uncategorized | No Comments

Tuesday, April 19, 2005

On Saturday April 16, students at Simon’s Rock College in Great Barrington, Massachusetts and Dr. Richard Wallace of the A.L.I.C.E. AI Foundation for their first time tested Alan Turing’s thought-experiment. The Imitation Game, based on the original Turing model for testing the ability of humans to recognize artificial intelligence (AI), was carried out with nearly eighty human and AI participants.

The ‘Original Imitation Game’ is described in Turing’s 1950 paper. A popularized version now dubbed the “Turing Test” involves a judge knowingly interviewing a software program and a human person during a computer chat, and then trying to discern which is which. The Turing Test has been conducted many times as Artificial Intelligence programs developed. However, no study was ever published following the guidelines of the original thought-experiment itself.

The Imitation Game involved playing a “gender guessing game”, wherein two human subjects, a male and a female, communicate via computer chat to the judge. Both the male and the female would try to convince the judge that s/he is female. Turing’s original question was, if a gender guessing game were done with two humans, and then with an AI replacing the male, would the judge be more accurate in guessing who the real female was?

Three students at Simon’s Rock — Cameo Wood, Melissa Leventhal, and Allyson Sgro — wrote a grant to support the experiment, and shepherded the proposal through the Human Research Review Committee under the oversight of Professor Anne O’Dwyer. The experiment was funded by the departments of Natural Science and the department of Social Science at the college.

The experiment utilized a program called A.L.I.C.E., which is designed to hold one end of an interactive conversation. The program was provided by the ALICE Artificial Intelligence Foundation. Dr. Richard Wallace was on hand during the experiment to troubleshoot the AI robot, later gave a lecture about on The Anatomy of A.L.I.C.E. and blogged the event.

Six human subjects from Simon’s Rock composed the human players in the game; the judges were recruited from various non-technical internet communities. Roughly eighty individuals participated in the experiment, which required the organizers to maintain strict secrecy about the experiment until it was concluded. All subjects who participated in the experiment were required to be over 18, not affiliated with the college, and were not allowed any foreknowledge of the use of AI in the experiment. Roughly 70 interviews were conducted over a three hour period last Saturday, via AOL’s Instant Messenger, a messaging tool that allows individuals to write to one another online.

The research team at Simon’s Rock has started to analyze the data they acquired during the experiment and will be writing a paper for publication in the coming months. Inquiries regarding the experiment may be directed to researcher@theguessinggame.net.

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Getting The Best Mortgage In Tucson

March 11th, 2022 in Property Data | No Comments

byadmin

Are you thinking about buying a new home? If you are, then you’re definitely thinking about it during the right time. A couple of years ago, the economy took a dive and the housing market went with it. Homeowners found themselves with homes that were practically worthless, however, they were still stuck paying a fortune in mortgage payments. A lot has changed since then and now more people are looking to buy new homes.

If you do decide to buy a home, think long and hard about how much you can afford. When the market collapsed a couple of years ago, one of the main reasons people were facing financial disaster was the fact that they were living in homes that were too expensive. Banks were giving large loans to buyers and buyers were more than willing to take them. When it comes to mortgage in Tucson, only take on a loan that’s within your budget.

You should also work on comparing prices. Some people can spend months looking for the perfect home. If it takes that long to make a decision, so be it. This is a major investment you’re making and you could pay the price if you rush the process. Make a list of all of the houses that you’ve seen and compare pros and cons. Once you’ve narrowed down your choices then you should begin seeking lenders for a mortgage in Tucson. Follow these tips to get the best price on a home.

Sweeping bank regulatory overhaul passed in US House of Representatives

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Sweeping bank regulatory overhaul passed in US House of Representatives
March 9th, 2022 in Uncategorized | No Comments

Thursday, July 1, 2010

Never again, never again should Wall Street greed bring such suffering to our country.

The US House of Representatives passed a significant overhaul of financial regulations that strengthens the government’s hold on banks and also creates a new federal agency to oversee consumer lending on Wednesday.

“Never again, never again should Wall Street greed bring such suffering to our country,” said House Majority Leader Steny Hoyer, D-MD after the bill was passed by the House.

The House vote, which was mainly split over party lines, had 237 representatives in favor and 192 opposed. Only three Republicans voted for the bill, though this was an increase from December, when no Republicans voted for the previous version of the bill. This new bill combines the old December bill with a newer one passed by the more conservative Senate last month.

But even though the Senate passed their bill already, support for the one passed Wednesday looks a little uncertain. Since earlier this year the Democrats lost their 60 vote filibuster majority, they had to secure the votes of a few more moderate Republican senators to beat back procedural hurdles. Democrats struggled to win the full support of these senators even after backing down on a US$19 billion tax on big banks and hedge funds, which had been opposed by Republicans. This group of senators includes Scott Brown, Olympia Snowe and Susan Collins. All three voted for the Senate bill last month.

The $19 billion tax was inserted in the 2000 page plus bill late last week, which came as a surprise to many large banks. Brown initially objected to the tax, and threatened to vote against the entire bill if the tax was not removed. Instead, the new way of financing the bill’s cost will be using $11 billion in cash that came from ending the Troubled Asset Relief Program (TARP), a bill passed in 2008 that bailed out struggling banks, and also by increasing rates that banks pay to insure bank deposits to the Federal Deposit Insurance Corp. However, the increase in rates won’t affect banks with assets of less then $10 billion.

On Wednesday, Collins wrote a statement saying that she now planned to vote for the bill. However, Brown remained on the fence and said he would use recess during the week of July 4th to examine the details of the bill. He credited Senate Banking Committee Chairman Chris Dodd for “thinking outside the box” in coming with a new way to fund the bill.

Other Republicans were much more opposed to the bill, and attacked it for failing to place tighter restrictions on Fannie Mae and Freddie Mac, the mortgage giants that helped trigger the economic and housing meltdowns. House Republican leader John Boehner compared the new bill to using a nuclear weapon on an ant. In response, President Barack Obama said in a speech in Racine, Wisconsin that “[i]f the Republican leader is that out of touch with the struggles facing the American people, he should come here to Racine and ask people if they think the financial crisis was an ant.”

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Forex Tips Why You Should Consider Trading The End Of Day Charts

March 3rd, 2022 in Forex Broker | No Comments

Forex Tips – Why You Should Consider Trading The End Of Day Charts

by

James Woolley

When you first start trading the currency markets, it is easy to find yourself drawn to the short term charts such as the 1 minute, 5 minute and 15 minute charts. This is because you can bank profits in a very short space of time, and can be in and out of a trade very quickly. However you shouldn’t rule out the daily price charts because these can be just as profitable, if not more so.

[youtube]http://www.youtube.com/watch?v=zJJVTdpy8vU[/youtube]

What you have to bear in mind is that when you are trading the short time frames, you can only really expect to bank modest profits from each of your trades. These are often in the region of 5-20 pips at most. However when you go up to the daily charts, you will be in trades for a lot longer, maybe as long as a week or two, so you can potentially bank huge profits of several hundred pips from just a single trade. The beauty of this is that you don’t have to stress yourself looking for multiple trades every single day. You can simply switch on your computer at the end of the day’s trading session, ie when the daily candle closes, and look for any high probability trading opportunities amongst the various currency pairs. If there are not any decent set-ups, you can wait until the same time tomorrow. However if there are one or two opportunities, you can enter your trade, set your stop loss and target price, and watch it slowly unfold over the coming days (and weeks in some cases). Your overall success rate should be a lot higher on the daily time frame because technical indicators tend to work so much better on this time frame than many of the shorter time frames. With day trading you may struggle to make any money because there are so many false moves and whipsaws throughout the day. Of course you still need a profitable system in place even when trading these end of day charts. However it should be a lot easier to come up with a winning system. You just need to come up with a way of trading breakouts or price reversals, which is not all that difficult if you look for things like pin bars, EMA crossovers, MACD crossovers and divergence on some of the most popular indicators. So the point is that if you are not having too much success trading the short term price charts (like most forex traders who try trading these time frames), you should seriously consider trading the daily charts instead. These are far easier and less stressful to trade, and you should find that you can make more money because the price moves are easier to predict.

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Forex Tips – Why You Should Consider Trading The End Of Day Charts

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