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		<title>Indian mum, 81, sells ancestral land to save son&#8217;s Dubai building</title>
		<link>http://kinetickaos.com/indian-mum-81-sells-ancestral-land-to-save-sons-dubai-building</link>
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		<pubDate>Thu, 23 Feb 2012 11:04:17 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Top Stories]]></category>

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		<description><![CDATA[DUBAI An 81-year-old mother&#8217;s timely intervention saved a small-time Dubai developer from doom after banks refused to lend him money to complete his maiden project. When Ashok J. Galgotia, 56-year-old chief executive of first-time developer Triveni Builders and Promoters Ltd, faced a Dh10 million bill from about a dozen contractors in late 2009 for his [...]]]></description>
			<content:encoded><![CDATA[<p>DUBAI An 81-year-old mother&#8217;s timely intervention saved a small-time Dubai developer from doom after banks refused to lend him money to complete his maiden project.</p>
<p>When Ashok J. Galgotia, 56-year-old chief executive of first-time developer Triveni Builders and Promoters Ltd, faced a Dh10 million bill from about a dozen contractors in late 2009 for his dream six-storey project La Fontana di Trevi &mdash; an Italian-inspired building in Arjan, off Dubai&#8217;s Umm Suqeim Road &mdash; he felt there was nowhere to turn.</p>
<p>&quot;The banks &mdash; 11 of them &mdash; slammed their doors in my face. There was a real possibility of the building not going up, of power not being available indefinitely. I had several sleepless nights,&quot; he said.</p>
<p>Mum to the rescue</p>
<p>															Article continues below</p>
<div style='margin-bottom:5px'>© 2011 Gulf News (<a href='http://www.gulfnews.com'>www.gulfnews.com</a>)</div>
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		<title>Football and Food Carts</title>
		<link>http://kinetickaos.com/football-and-food-carts</link>
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		<pubDate>Thu, 23 Feb 2012 08:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
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		<description><![CDATA[Emily Berl for The Wall Street Journal Jose Cosme shows his fruit and vegetables to philanthropist Laurie Tisch, in the South Bronx. Laurie Tisch is going to the Super Bowl, but first she had to pick up some vegetables in the Bronx. &#8220;Thursday I&#8217;m on the friends and family charter,&#8221; she reported. &#8220;Hopefully I&#8217;ll make [...]]]></description>
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<p>                <cite>Emily Berl for The Wall Street Journal</cite></p>
<p class="targetCaption">Jose Cosme shows his fruit and vegetables to philanthropist Laurie Tisch, in the South Bronx.</p>
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                Laurie Tisch is going to the Super Bowl, but first she had to pick up some vegetables in the Bronx. &#8220;Thursday I&#8217;m on the friends and family charter,&#8221; she reported. &#8220;Hopefully I&#8217;ll make it there for the friends and family dinner,&#8221; hosted, she said, by Indianapolis Colts owner Jim Irsay.</p>
<p>Ms. Tisch&#8217;s family are co-owners of the New York Giants, though she may be better known for her philanthropy around New York City as head of the Laurie M. Tisch Illumination Foundation. Its efforts include supporting the NYC Green Cart Initiative, which brings fresh fruits and vegetables, sold on sidewalk carts, to the city&#8217;s underserved neighborhoods.</p>
<p>Or at least Ms. Tisch was probably better known for her good deeds than her connection to the Giants until the team won the NFC Championship game against the San Francisco 49ers on Jan. 22. If you happened to see the game, or rather the postgame locker room ceremonies, Ms. Tisch was the person in the corner of your screen ecstatically waving some sort of Giants victory banner or T-shirt from the trophy presentation podium. </p>
<p>&#8220;The minute the game is over they come out with the hats and T-shirts,&#8221; she explained. &#8220;Some player said, &#8216;You want to get up there?&#8217;&#8221;</p>
<p>I asked her what the response had been among friends, who were probably more familiar spotting her on the society pages than among tattooed football players. &#8220;Several friends said, &#8216;What did your mother say about you in the locker room with these naked guys?&#8217; She said, &#8216;Good for you!&#8217;&#8221; Ms. Tisch replied.</p>
<p>&#8220;Body fat isn&#8217;t a big worry of these guys,&#8221; she observed, apparently closely. &#8220;The entire team has less body fat than me.&#8221;</p>
<p>Reducing body fat and raising health in the city&#8217;s low-income neighborhoods by increasing the availability of fresh produce is the Green Cart Initiative&#8217;s purpose. The carts operate in what are sometimes known as &#8220;food deserts&#8221;&#8212;areas of the city where there is no problem finding a McDonald&#8217;s or a KFC, but a fresh apple is another thing. </p>
<p>Indeed, both McDonald&#8217;s and Kentucky Fried Chicken had planted their flags near the bustling intersection of 149th Street and Third Avenue in the Grand Concourse section of the Bronx, where I met Ms. Tisch on Tuesday afternoon. There was also a doughnut shop and a pizza parlor; the Green Cart we were visiting there, manned by Jose Cosme and his wife, Eva, felt like a good-natured rebuke to all those kids stopping for a greasy slice on the way home from school. </p>
<p>There didn&#8217;t seem to be much crossover between the pizza and produce buyers&#8212;no one seemed to be topping off their slice with a piece of fresh fruit&#8212;but Mr. Cosme said that business is decent with good weeks and bad weeks.  &#8220;It pays the bills. I have two kids in college. It has helped,&#8221; he said.</p>
<p>I&#8217;ve frankly always avoided buying my vegetables from carts, suspecting their sources. But Mr. Cosme purchases his produce daily at the Hunts Point Terminal Market&#8212;as do the 215 other active Green Cart permit holders in the Bronx (there are over 500 citywide) and where many of the city&#8217;s grocery stores and restaurants also go for fruits and vegetables. </p>
<p>&#8220;4 a.m. Monday,&#8221; he said, referring to the time he arrives at Hunts Point. &#8220;5 a.m. the rest of the week.&#8221; He gets to his spot at the corner of 149th Street between 8 and 8:30 a.m. almost every day of the year, weather permitting, and remains there until 4 p.m. during the winter and 6 p.m. in the summer.</p>
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<p>                <cite>Emily Berl for The Wall Street Journal</cite></p>
<p class="targetCaption">His cart.</p>
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<p>The vendors either rent or purchase their carts, and buy all the produce they have for sale. But the Green Cart Initiative does provide them urban retail survival training, and the handsome green NYC Green Cart umbrellas that let customers know they&#8217;re fully licensed and that their quality can be counted on.</p>
<p>&#8220;We make clear upfront this is a sales position,&#8221; explained Cassandra Flechsig, a Green Cart program manager with Karp Resources, a food-industry strategic planning group under contract to the Initiative. &#8220;I lead a lot of workshops: how to select a good location, engage the community, merchandise your product.&#8221;</p>
<p>Indeed, there is an argument to be made that food bought from the carts may be as good or better than that purchased in supermarkets, and most probably cheaper&#8212;though the point of the program isn&#8217;t to compete with stores but to bring produce to neighborhoods where supermarkets are often few and far between.</p>
<p>&#8220;The community does like it,&#8221; said Mr. Cosme. &#8220;I have a lady who comes here once a week on the bus. She doesn&#8217;t like the fruits in the supermarket. She&#8217;d rather spend the $2.25 coming and going. I have people coming from 138th Street.&#8221;</p>
<p>I can attest to the cart&#8217;s quality. I bought a Red Delicious apple the size of softball for 50 cents. And Ms. Tisch, who can afford her peaches and pomegranates from Eli&#8217;s, or Grace&#8217;s Market, said she also buys her fruits and vegetables from carts.</p>
<p>But what about avocados? There is nothing quite like a perfectly ripe Haas avocado. But how often can you go to the supermarket and find them? The ones they sell, while undoubtedly edible at some point in the distant future, are typically hard as rocks. </p>
<p>&#8220;They have got to be ripe,&#8221; Mr. Cosme said. &#8220;When I buy, I buy in quantity. I leave them in the box until they get ripe and them I bring them.&#8221;</p>
<p>Sadly, he&#8217;d sold out.</p>
<p>Ms. Tisch&#8217;s Illumination Fund provided the seed money for the Green Cart Initiative, the city authorizing 1,000 new street vending permits in 2008 &#8212;though not without significant pushback from businesses who saw them as potential competitors. The fund also underwrote a NYC Green Cart Cookbook, which vendors can give away to customers, and financed &#8220;The Apple Pushers,&#8221; a documentary that highlights five Green Cart vendors and the extraordinary challenges they&#8217;ve faced in gaining even a tiny sliver of the American dream.</p>
<p>Ms. Tisch&#8217;s own dream at the moment is for a Giants victory come Sunday and to make sure she ends up celebrating in the correct locker room. She confided that after the Giants win over Green Bay on Jan. 15, and wearing a Giants headband and her 2008 Super Bowl Champs ring, &#8220;I followed this whole big group of people,&#8221; into the Green Bay locker room. &#8220;It was so quiet. I see a lot of green and yellow and think, &#8216;I don&#8217;t think I&#8217;m colorblind.&#8217;&#8221;</p>
<p>Someone suggested she use her visibility&#8212;if she gets the opportunity to do another trophy presentation T-shirt waving victory dance&#8212;to promote the Green Cart Initiative. &#8220;Whatever they hand me&#8212;apples, I hope,&#8221; she said. &#8220;Maybe when they do the victory parade we can get these guys to do the food.&#8221;</p>
<p><cite class="tagline">&mdash;<br />
                <a class="" href="mailto:ralph.gardner@wsj.com">ralph.gardner@wsj.com</a><br />
            </cite><!-- article end -->
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<div style='margin-bottom:5px'>© 2011 Wall Street Journal (<a href='http://www.wsj.com'>www.wsj.com</a>)</div>
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		<title>Foreign Policy: RIP Anthony Shadid</title>
		<link>http://kinetickaos.com/foreign-policy-rip-anthony-shadid</link>
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		<pubDate>Thu, 23 Feb 2012 05:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[Story By: by Rajiv Chandrasekaran A photo from an unknown location of New York Times journalist Anthony Shadid, who died Feb. 16 of an asthma while reporting in Syria. Rajiv Chandrasekaran is a senior correspondent and associate editor of Foreign Policy. In the summer of 2003, when the rest of the press corps in Baghdad [...]]]></description>
			<content:encoded><![CDATA[<p>Story By: <b>by Rajiv Chandrasekaran</b></p>
<p class="caption">A photo from an unknown location of <em>New York Times</em> journalist Anthony Shadid, who died Feb. 16 of an asthma while reporting in Syria.</p>
<p><em>Rajiv Chandrasekaran is a senior correspondent and associate editor of </em>Foreign Policy.</p>
<p><em></em>In the summer of 2003, when the rest of the press corps in Baghdad fixated upon the lives of American soldiers in the desert and the nascent efforts to rebuild Iraq&#8217;s government, Anthony Shadid jumped in a white Chevy Caprice and headed south, to the Shiite holy city of Najaf.</p>
<p>He spent days on end in Najaf&#8217;s labyrinthine alleys, gazing into seminaries and seeking out the most influential religious leaders of Iraq&#8217;s newly empowered majority sect. He grasped long before any other journalist, and well before the American officials cloistered in the Green Zone, that the new center of power in Iraq rested with the grand ayatollahs of Shiite Islam. He called them the men with &#8220;ten-gallon turbans,&#8221; and he wrote the most vivid, insightful pieces about them, usually composed on deadline â on a Saturday afternoon for the Sunday <em>Washington Post</em> â fueled by two packs of Marlboro lights.</p>
<p>He <a href="http://www.washingtonpost.com/ac2/wp-dyn/A48958-2003Jun29?language=printer" target="_blank">banged out</a> lines like this: &#8220;Ahead of him was the future of a country where Sadr&#8217;s followers are seeking to turn his legacy into power and, en route, discover the elusive intersection of religion and politics that has bedeviled the Muslim world for a generation.&#8221;</p>
<p>It was vintage Shadid. Eloquent and prescient. Graceful and gripping. His death on Thursday, from an apparent asthma attack while on a reporting trip in Syria, has deprived American journalism of its most gifted foreign correspondent in a generation. His coverage of the Middle East â from Iraq, Lebanon, Libya, and beyond â was, simply, the best. He set the standard. If you cared about the region, if you really wanted to understand what was going on, you read Anthony.</p>
<p>His colleagues got it. He won two Pulitzers in a six-year span. His first, in 2004, was a result, according to the <a href="http://www.pulitzer.org/citation/2004-International-Reporting" target="_blank">Pulitzer board</a>, of &#8220;his extraordinary ability to capture, at personal peril, the voices and emotions of Iraqis as their country was invaded, their leader toppled and their way of life upended.&#8221;</p>
<p>He found humanity amid the rubble, compassion in the tableau of violence. He wrote about war by focusing on people, with intimate detail, revealing their lives in elegiac prose.</p>
<p>Anthony never let the plaudits get to his head. He could have had his choice of cushy assignments in Europe or the United States. He could have become a successful commentator or analyst. But his heart was in the Middle East â and in the story. He kept going out to report â to talk to people, to observe, to understand. Sometimes it indeed involved great personal peril â he stayed in Baghdad through the shock-and-awe bombing campaign, he traveled through southern Lebanon during the 2006 Israeli invasion, and he was kidnapped in Libya with three other <em>New York Times</em> journalists â but he was no adrenaline junkie. He did it because he wanted to know what was really happening. And that couldn&#8217;t be gleaned from a distance. During the U.S. invasion of Baghdad, when other journalists tried to figure out what was going on from their hotel rooms, Anthony sneaked onto the streets and talked to Iraqis. His dispatches were an order of magnitude more illuminating.</p>
<p>His knowledge of Arabic also put him ahead of the pack. Everyone assumed he picked it up as a child, as the son of second-generation Lebanese-Americans. But English was the language of his home in Oklahoma. He learned Arabic the hard way: in an immersion program in Cairo, after he had graduated from college.</p>
<p>His fluency meant he could converse with the Iraqis who worked for the <em>Post </em>in ways that no other American staffer could. He befriended them and their families â and they loved him back. When they needed money â for a sick relative, to replace a broken car â Anthony never hesitated. He opened his wallet and fished out a handful of bills. And he never sent an Iraqi colleague to places he wouldn&#8217;t travel himself.</p>
<p>He displayed the same open heart with his fellow Americans. He shared his sources and his knowledge. When it was his turn to write the news-of-the-day story â we rotated that thankless assignment in the Baghdad bureau â he launched into it with zeal. Instead of swallowing spoon-fed information from military spokesmen, he summoned Karim, his trusty chauffeur, and they headed off in the Caprice in search of eyewitnesses. If that meant a dicey drive into Fallujah, so be it. He wanted the ground truth.</p>
<p>When he returned to the house we shared with a rotating cast of <em>Post </em>correspondents â we called it &#8220;Real World Baghdad,&#8221; after the MTV show that was popular at the time â we usually sat together for a family dinner where we swapped stories of the day&#8217;s reporting exploits. Anthony listened thoughtfully to what the rest of us had to say. But the truth was that we were skating along the surface of Iraq. Anthony had burrowed deep underground. When he offered up his observations, they were trenchant and thoughtful. He didn&#8217;t keep the good stuff to himself â he shared. And it made all of our stories better.</p>
<p>Once, on a trip to Saddam Hussein&#8217;s hometown of Tikrit, he purchased a video disc from a tea shop. Unlike Starbucks, which once sold music intended to relax the listener, the offering in Tikrit was titled &#8220;Anger.&#8221; It was a compilation of bloody images of U.S. and insurgent attacks that was sickening to watch. Anthony bought it not because of its shock value, but because he knew he needed to see it to understand how Iraqi public opinion was being shaped.</p>
<p>What made him so unique was his gift with both languages. He could speak to the Iraqis like a native, and he could pen his stories like few others in American journalism. I&#8217;ll never forget the May 2003 <a href="http://gulfnews.com/news/gulf/uae/general/iraqis-rue-unfulfilled-promises-1.357596" target="_blank">story</a> where he introduced us to Karima, a mother in Baghdad struggling to survive.</p>
<p>&#8220;Along Karrada Street, which runs through a spit of land along a bend in the Tigris River, Panasonic televisions, Samsung washing machines, Toshiba refrigerators and a gaggle of air conditioners, ovens and satellite dishes spill into the streets â courtesy of an Iraqi dinar buoyed by a deluge of U.S. dollars and the overnight disappearance of once-steep customs duties and taxes,&#8221; Shadid wrote in a front-page <em>Post</em> story. &#8220;Overlooking the display is a three-room apartment, where Karima and her family of eight live in envy. &#8216;From the war until now, I&#8217;ve earned nothing,&#8217; she said dolefully, a black veil framing a wizened face that belies her 36 years.&#8221;</p>
<p>Then there was the <a href="http://www.washingtonpost.com/ac2/wp-dyn/A1151-2003Jun1?language=printer" target="_blank">piece</a> he co-wrote with Tom Ricks. It was, I am certain, one of the single best stories that ever was filed from Iraq. Tom accompanied a U.S. Army patrol in Baghdad that believed it was befriending the locals. A soldier Ricks quoted deemed the neighborhood &#8220;95 percent friendly.&#8221; Anthony followed along and talked to the same Iraqis who had spoken to the troops. He heard deep suspicion and anger. &#8220;We refuse the occupation â not 100 percent, but 1,000 percent,&#8221; one man told Shadid. Once again, Anthony was ahead of the pack.</p>
<p>It would be wrong to say that he made it look effortless. His success was the result of grueling work. He spent his days reporting, and his evenings writing. While I threw dinner parties, he&#8217;d be up in his room, typing away. His downtime would usually come around 3 a.m., after both of us had filed our stories. We&#8217;d pour healthy tumblers of single-malt scotch, light up Marlboros, and watch television. DVDs of <em>Sex and the City</em> were our favorite. The girls transported us to a world without car bombs and kidnappings. A colleague once brought a season of <em>The Sopranos</em>. We watched with morbid fascination for a while before concluding that it was simply too dark for our grim life in Baghdad.</p>
<p>The nocturnal television and the scotch were his only vices. He eschewed the parties by the Hamra Hotel pool and other forms of indolence. There always was more reporting to do. Although he had been raised a Lebanese Christian, he told me â only half-joking â that he wanted to spend a year in a Shiite seminary to better understand the religious transformation sweeping across Iraq. He collected the embossed clay discs upon which Shiite men press their foreheads while praying. One day, he said, he hoped to have an indentation on his forehead from repeated prayer. Once his head &#8220;looked like a raisin,&#8221; he said, he&#8217;d know he had done enough research.</p>
<p>His cultivation of the Shiite clergy yielded not just long, lyrical tales on the front page. He also nabbed scoops, the greatest of which occurred in November 2003. Ambassador Paul Bremer had proposed that a transitional Iraqi government be selected through caucuses instead of direct elections, which the Americans deemed to be to difficult and risky to hold. Although a group of Iraqi politicians who had been hand-picked by Bremer had approved the plan, Anthony knew that the ultimate arbiter of whether most Shiites would go along with the caucuses was not Bremer&#8217;s council but Grand Ayatollah Ali al-Sistani, Iraq&#8217;s most influential and revered Shiite leader. Anthony had painstakingly cultivated sources in Sistani&#8217;s office and managed to get a letter with a few questions into the grand ayatollah&#8217;s hands.</p>
<p>A few days later, Sistani issued his response. He rejected Bremer&#8217;s plan out of hand. But what was most remarkable was how Sistani conveyed it: scrawled on a large banner that was hung in central Najaf. It began with the words, &#8220;In response to the questions of Anthony Shadid of the Washington Post.&#8221;</p>
<p>As we gabbed over a Glenlivet late one night in 2003, Anthony dismissed the claims of the U.S. occupation spokesman that Iraq was on the path to peace and stability.</p>
<p>&#8220;We&#8217;re only in the first chapter,&#8221; he insisted.</p>
<p>The Arab Spring was the second or third chapter. Anthony, also an accomplished author, knew the transformation of the modern Middle East would have many more pages. I only wish he could have written them.</p>
<p><a href="http://www.foreignpolicy.com/articles/2012/02/17/remembering_anthony_shadid">Continued At Foreign Policy</a></p>
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		<title>Blast at Pakistan town &#8216;kills 26&#8242;</title>
		<link>http://kinetickaos.com/blast-at-pakistan-town-kills-26</link>
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		<pubDate>Thu, 23 Feb 2012 02:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
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		<description><![CDATA[A suicide bomb attack on a market in a Shia Muslim area of north-west Pakistan has killed 26 people and injured at least 50 others, officials say. The attacker blew himself up close to a mosque in the town of Parachinar in Pakistan&#039;s tribal region of Kurram. Three more people died when security forces fired [...]]]></description>
			<content:encoded><![CDATA[<p class="introduction">A suicide bomb attack on a market in a Shia Muslim area of north-west Pakistan has killed 26 people and injured at least 50 others, officials say.</p>
<p>The attacker blew himself up close to a mosque in the town of Parachinar in Pakistan&#039;s tribal region of Kurram. </p>
<p>Three more people died when security forces fired on crowds protesting against the attack.</p>
<p>Fazal Saeed, the leader of a breakaway faction of the Pakistani Taliban, said it carried out the attack. </p>
<p>&quot;We have targeted the Shia community of Parachinar because they were involved in activities against us,&quot; he told Reuters news agency.</p>
<p>Residents said the bombing destroyed at least eight shops in the bazaar, AFP reports.</p>
<p>A curfew has been imposed in the town.</p>
<p>Pakistan has been plagued by sectarian attacks, with Shia Muslims targeted by radical Sunni groups. </p>
<p>The Kurram region in particular has a history of violence between Sunni and Shia groups.</p>
<p>Prior to a peace deal last February, Shia tribes had been waging a three-year war to keep the Taliban out of the area.</p>
<p>Last July, Pakistani security forces launched an offensive against militant groups in Kurram.</p>
<div style='margin-bottom:5px'>© 2011 BBC News (<a href='http://www.bbc.co.uk'>www.bbc.co.uk</a>)</div>
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		<title>Need for Efficiency in China&#8217;s Banks</title>
		<link>http://kinetickaos.com/need-for-efficiency-in-chinas-banks</link>
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		<pubDate>Wed, 22 Feb 2012 23:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Top Stories]]></category>

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		<description><![CDATA[Richard Jackson, one of the few non-Chinese nationals to have served in top management in China&#8217;s state-run banking industry, has an insider&#8217;s view of the effects of China&#8217;s policy on business. R&#233;sum&#233; Education: Fellow, Chartered Insurance Institute, London Career: Oversaw Ping An Group&#8217;s banking business from 2005. Spent nearly 20 years with Citigroup Inc. Named [...]]]></description>
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                Richard Jackson, one of the few non-Chinese nationals to have served in top management in China&#8217;s state-run banking industry, has an insider&#8217;s view of the effects of China&#8217;s policy on business.</p>
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<h3 class="first">R&#233;sum&#233;</h3>
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                        <strong>Education:</strong> Fellow, Chartered Insurance Institute, London                    </span></li>
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                        <strong>Career: </strong>Oversaw Ping An Group&#8217;s banking business from 2005. Spent nearly 20 years with Citigroup Inc. Named president of Shenzhen Development Bank in May 2010.</span></li>
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                        <strong>Extracurricular:</strong> Red wine and working</span></li>
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<p>Mr. Jackson, president of the midsize Shenzhen Development Bank Co., says Beijing&#8217;s measures to slow credit growth will check the proliferation of nonperforming loans, but they come with risks in the long run. The Chinese government has long addressed inflation by slamming the door on bank lending&#8212;besides imposing an overall credit-growth limit on the sector, it also increases reserve ratios at individual banks thought to be making too many loans. But the effect on small private business is to drive them to the informal lending market, where they face annualized interest rates as high as 100%.</p>
<p>&#8220;Over the next 10 or 15 years, the biggest challenge facing the whole financial sector is how we allocate capital and credit more efficiently,&#8221; says the 55-year-old Briton. </p>
<p>Mr. Jackson spoke with Rose Yu in Shenzhen about the challenges on the horizon and his optimism about being a small fish in the ocean of China&#8217;s banking sector. The following interview has been edited.</p>
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<p>WSJ: Analysts at foreign banks tend to be bearish on China&#8217;s banks, citing exposure to local-government financing vehicles. Do you find such exposure risky?</p>
<p>Mr. Jackson:If I compare China with other trading blocs, I think China still has some advantages. First, China has financial resources, so it has some flexibility. One of the problems in Europe is they have no flexibility as they&#8217;ve exhausted their resources. Second, China has a strong system of governance; when the government decides something, we will really see it done. The third thing is China still has growth although the growth rate is slowing. Europe doesn&#8217;t have growth. If we look at the U.S., we are seeing a little bit of growth returning to the economy. But it&#8217;s an election year, so politically it will be very difficult for the U.S. government to do anything. </p>
<p>The problem we have is the efforts that have to be taken to stimulate the economy usually end up with more and more investment in fixed assets. There&#8217;s only so much fixed assets that you can absorb, and then after that they become nonproductive. That&#8217;s the challenge that China faces.</p>
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<p>WSJ: How do you mitigate the impact of slower growth?</p>
<p>Mr. Jackson: After the merger, we will be a big bank with 1.2 trillion yuan ($189 billion) in assets. But our share of China&#8217;s banking market is still very small. If you are very small, it&#8217;s like you are a small fish in the ocean. It doesn&#8217;t really matter whether the tide is in or out. You&#8217;re always going to be able to swim somewhere there&#8217;s food. We need to be careful but we should also be looking for opportunities. I don&#8217;t think it will affect our performance too much. </p>
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<p>WSJ: In banking, how is China different from the West?</p>
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<p>                <cite>Bloomberg</cite></p>
<p class="targetCaption">Richard Jackson, president of Shenzhen Development Bank</p>
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<p>Mr. Jackson: The Chinese banking industry is still largely a domestic commercial banking business. The risk profile is very different to that of some big multinational banks. That&#8217;s why China&#8217;s banking industry was protected from the 2008 crisis. </p>
<p>In the next 10 to 15 years, it will probably change a little bit. Big Chinese banks are beginning to go international with their corporate customers. That&#8217;s how the U.S. and European banks became international. </p>
<p>The question is whether or not Chinese banks will follow the Western model completely and whether they will embrace investment banking. That was a big mistake in the West. </p>
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<p>WSJ: Chinese banks sometimes get differential reserve ratios or &#8220;punitive bonds&#8221; if they are thought to be lending too much. This happens behind closed doors. What do you make of this government operation?</p>
<p>Mr. Jackson:The use of administrative measures helps promote stable development in the industry, but in the longer run it will have some disadvantages in terms of the allocation of resources.</p>
<p>Over the next 10 or 15 years, the biggest challenge facing the whole financial sector is how we allocate capital and credit more efficiently. We&#8217;ve got to look at more liberalization in the securities industry, so companies can raise capital more easily. Also, we&#8217;ve got to look at freeing up pricing controls, with interest-rate deregulation. </p>
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<p>WSJ: What&#8217;s been your experience managing a Chinese bank as a foreigner? </p>
<p>Mr. Jackson: I don&#8217;t really feel I&#8217;m a foreigner. I&#8217;ve lived abroad for 30 years. The industry here has a lot in common with the industry in other places that I&#8217;ve worked, such as Poland, Hungary and Korea. If I have any value it&#8217;s the experience that I&#8217;ve built up over the last 30 years. I&#8217;ve gone through seven mergers and acquisitions around the world, including this one in China. Hopefully my experience of integrations has some value.</p>
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<p>WSJ: What&#8217;s the toughest decision you&#8217;ve made as a manager?</p>
<p>Mr. Jackson:Decisions involving people are more difficult because of emotional element and because they are human beings. The whole point of managing is to be able to make decisions based on information, experience and advice, and make them quickly and get on with it.</p>
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<p>WSJ: When hiring for your team, what do you look for? </p>
<p>Mr. Jackson:There are two things: One is attitude and the other is aptitude. If you have somebody joining your team that has an attitude which is very different to the value of the team, it will become very disruptive, particularly in some senior persons. The second thing is aptitude. You are hiring somebody because of their professional skills you want, but you&#8217;ve still got to figure it out whether the skill the person has represents the maximum potential they have or whether they still have capacity for further development. If you hire somebody with a set of skills for today, but they have no development potential, then tomorrow they are going to be a problem.</p>
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<div style='margin-bottom:5px'>© 2011 Wall Street Journal (<a href='http://www.wsj.com'>www.wsj.com</a>)</div>
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		<title>US Open champion keen to build on last year’s success</title>
		<link>http://kinetickaos.com/us-open-champion-keen-to-build-on-last-year%e2%80%99s-success</link>
		<comments>http://kinetickaos.com/us-open-champion-keen-to-build-on-last-year%e2%80%99s-success#comments</comments>
		<pubDate>Wed, 22 Feb 2012 20:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[Dubai: US Open champion Samantha Stosur of Australia is targeting winning more Grand Slams as she sets about putting her recent disappointments behind her. Stosur had a phenomenal 2011 that was highlighted by her defeat of Serena Williams for her first Grand Slam title at the US Open &#8212; the first Australian to win at [...]]]></description>
			<content:encoded><![CDATA[<p>Dubai: US Open champion Samantha Stosur of Australia is targeting winning more Grand Slams as she sets about putting her recent disappointments behind her.</p>
<p>Stosur had a phenomenal 2011 that was highlighted by her defeat of Serena Williams for her first Grand Slam title at the US Open &mdash; the first Australian to win at Flushing Meadows since 1980 &mdash; as she finished in the top 10 for a second straight year.</p>
<p>She was a quarter-finalist in Dubai last year and it is here that she achieved her career-high No 4 on the WTA Rankings.</p>
<p>However, the Brisbane girl has had a dismal start to the 2012 season, reaching only the second round in her home event followed by a shock first-round loss to Sorena Cirstea at the Australian Open.</p>
<p>															Article continues below</p>
<div style='margin-bottom:5px'>© 2011 Gulf News (<a href='http://www.gulfnews.com'>www.gulfnews.com</a>)</div>
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		<title>Hedging the S&amp;P 500</title>
		<link>http://kinetickaos.com/hedging-the-sp-500</link>
		<comments>http://kinetickaos.com/hedging-the-sp-500#comments</comments>
		<pubDate>Wed, 22 Feb 2012 17:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Business]]></category>

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		<description><![CDATA[The hedge is your edge. With the Standard &#38; Poor&#8217;s 500 Index off to a strong start this year, Wall Street&#8217;s derivatives desks are doing brisk business helping clients protect their portfolios in the event of a correction. Because there is little general investor fear that the stock market will decline, the hedges are relatively [...]]]></description>
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<p> The hedge is your edge.</p>
<p> With the Standard &amp; Poor&#8217;s 500 Index off to a strong start this year, Wall Street&#8217;s derivatives desks are doing brisk business helping clients protect their portfolios in the event of a correction. </p>
<p> Because there is little general investor fear that the stock market will decline, the hedges are relatively inexpensive to buy. But the chance to buy hedges without paying a fear premium may soon end. </p>
<p> Already, very sophisticated investors are beginning to fret stock prices will soon fall &#8212; and they&#8217;re &#8230;</p>
</div>
<div style='margin-bottom:5px'>© 2011 Wall Street Journal (<a href='http://www.wsj.com'>www.wsj.com</a>)</div>
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		<title>Jillian&#8217;s secrets to a stronger you</title>
		<link>http://kinetickaos.com/jillians-secrets-to-a-stronger-you</link>
		<comments>http://kinetickaos.com/jillians-secrets-to-a-stronger-you#comments</comments>
		<pubDate>Wed, 22 Feb 2012 14:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
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		<description><![CDATA[Copyright Health Magazine 2011]]></description>
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<p class="cnn_strycbftrtxt">Copyright <a href="http://www.health.com/" target="_blank">Health Magazine</a> 2011</p>
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		<title>Senegal &#8216;police blunder&#8217; apology</title>
		<link>http://kinetickaos.com/senegal-police-blunder-apology</link>
		<comments>http://kinetickaos.com/senegal-police-blunder-apology#comments</comments>
		<pubDate>Wed, 22 Feb 2012 11:03:55 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Top Stories]]></category>

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		<description><![CDATA[Senegal&#039;s government has apologised for a &#34;police blunder&#34; after tear gas was thrown into a mosque amid protests against President Abdoulaye Wade&#039;s re-election bid. One person reportedly died on Sunday after a demonstration to condemn Friday&#039;s tear-gas incident in Dakar. Six people have now been killed in anti-Wade protests this year, local media say. Despite [...]]]></description>
			<content:encoded><![CDATA[<p class="introduction">Senegal&#039;s government has apologised for a &quot;police blunder&quot; after tear gas was thrown into a mosque amid protests against President Abdoulaye Wade&#039;s re-election bid.</p>
<p>One person reportedly died on Sunday after a demonstration to condemn Friday&#039;s tear-gas incident in Dakar.</p>
<p>Six people have now been killed in anti-Wade protests this year, local media say.</p>
<p>Despite the protests, Mr Wade, 85, is standing in Sunday&#039;s election.</p>
<p>He is seeking a third term after first winning elections in 2000.</p>
<p>Interior Minister Ousmane Ngom apologised after a tear gas canister went off inside a mosque where people were praying on Friday. </p>
<p>&quot;I would like to present, in my personal name and on behalf of the highest  authorities of national police, our most sincere apologies to the caliph&quot; of the Tidiane brotherhood (Senegal&#039;s largest) and his followers, he told the Senegalese Press Agency (APS).</p>
<p>He also urged politicians not to hold protests near mosques in the mainly Muslim nation.</p>
<p>Sunday&#039;s protest outside the mosque turned violent with hundreds of demonstrators setting up burning barricades and throwing stones at the police, who responded with tear gas and rubber bullets, according to the AFP news agency.</p>
<p>The protests began on a main road in central Dakar but later spread around the capital.</p>
<p>One young man was killed in Rufisque, just outside Dakar, while a tailor died of his injuries in the central town of Kaolack on Saturday, APS reports.</p>
<p>Senegal has now seen five consecutive day of clashes.</p>
<p>The country is often held up as one of Africa&#039;s model democracies &#8211; it remains the only West African country where the army has never seized power.</p>
<p>But protests broke out in January after the country&#039;s highest court ruled that Mr Wade could seek a third term and banned singer Youssou Ndour from standing.</p>
<p>The constitution limits heads of state to two terms in office but the judges ruled that Mr Wade&#039;s first term did not count as this was before the limit was introduced.</p>
<p>Once a veteran opposition leader himself, Mr Wade, 85, was first elected in 2000 &#8211; ending 40 years of rule by the Socialist Party.</p>
<div style='margin-bottom:5px'>© 2011 BBC News (<a href='http://www.bbc.co.uk'>www.bbc.co.uk</a>)</div>
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		<title>PIP implant women meet minister</title>
		<link>http://kinetickaos.com/pip-implant-women-meet-minister</link>
		<comments>http://kinetickaos.com/pip-implant-women-meet-minister#comments</comments>
		<pubDate>Wed, 22 Feb 2012 08:10:23 +0000</pubDate>
		<dc:creator>LeoFrank</dc:creator>
				<category><![CDATA[Top Stories]]></category>

		<guid isPermaLink="false">http://kinetickaos.com/pip-implant-women-meet-minister</guid>
		<description><![CDATA[Women with breast implants which have been linked to a health scare are due to meet Scotland&#039;s Health Secretary Nicola Sturgeon. &#34;There are a plethora of questions following the scandal that remain unanswered and the victims have put forward a powerful case for a full, independent public inquiry to be held here in Scotland. &#34;As [...]]]></description>
			<content:encoded><![CDATA[<p class="introduction">Women with breast implants which have been linked to a health scare are due to meet Scotland&#039;s Health Secretary Nicola Sturgeon.</p>
<p>&quot;There are a plethora of questions following the scandal that remain unanswered and the victims have put forward a powerful case for a full, independent public inquiry to be held here in Scotland. </p>
<p>&quot;As Scotland has done on many occasions before, we have an opportunity to lead the United Kingdom in driving forward progressive reforms to help improve the rights of patients in Scotland.&quot; </p>
<p>Spokeswoman for the PIP campaign group, Trisha Devine, said the women needed help.</p>
<p>She added that all the women involved were living &quot;an absolute nightmare&quot;.</p>
<p>Ms Devine said: &quot;Some of the women have found out that their implants have burst inside of them and others are anxious that the same might happen to them at any moment. It feels like we&#039;ve got ticking time bombs inside of us.&quot;</p>
<p>The NHS in Scotland did not use the PIP implants and all of the women involved in the scare had their operations carried out by private health firms.</p>
<p>It was initially believed that up to 4,000 women in Scotland could be affected, but that figure had been reduced to about 1,300. </p>
<p>Worried patients can have their implants removed by the NHS, but not replaced, if their private clinics refused or had gone out of business.</p>
<p>The PIP product was banned in 2010 when it emerged that industrial grade silicone was being used. Implants should be made from medical grade material, which has passed safety tests for use in a human body. </p>
<p>No increased risk of toxicity had been reported, but the implants were at greater risk of rupturing. </p>
<div style='margin-bottom:5px'>© 2011 BBC News (<a href='http://www.bbc.co.uk'>www.bbc.co.uk</a>)</div>
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