Smoke in MRT, distressed passengers kept in the dark
On Tuesday morning, I was on a Circle Line train heading towards one-north station when there was a loud bang and a violent thud that sent vibrations throughout the cabin. Soon after that, the lights went out and the train came to a halt. Initially, the standard train delay announcements were broadcast. A few minutes later,...
China: Fraud busters hunt down fake shoes, expired food
People exit a Wal-Mart Stores Inc. store in the Shekou district of Shenzhen, China. Companies such as Carrefour SA and Wal-Mart Stores Inc. said they’re working to improve food standards and supervision. Xu Dajiang spends at least three days a week in supermarkets in China scrutinizing products. He’s not shopping for bargains;...
China’s $1 trillion worth of unhedged foreign debt
The renminbi is heading for a 2.8 percent loss in 2014 as the dollar gains on Federal Reserve plans to raise interest rates and the People’s Bank of China cuts borrowing costs to support a flagging economy. (Dec 24, 2014) - UBS Group AG is flagging risks from China’s $1 trillion worth of unhedged foreign debt as forecasters...
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