August 30th, 2012
11:12 AM GMT
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London (CNN) – From the budget, to economic benefits, to the legacy: No-one is talking about the Paralympics’ bottom line.

Perhaps it’s because Team GB and the London 2012 organization were so impressive, leaving the country revelling in the medal haul rather than totting up the bill.

The nation has gone sports-mad, now embracing the lesser-known (but I’ll bet just as exciting to watch), paralympic sports, from Murderball (think of it as wheelchair rugby) to Boccia (like bowls, but for athletes whose disabilities impact on their motor skills).

But - despite all this goodwill - the UK economy is refusing to play ball.
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August 30th, 2012
10:57 AM GMT
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Hong Kong (CNN) - With the number of visitors from the Middle East to Asia on the rise, Hong Kong is re-examining what it has on offer to entice more travelers to its sights.

Since 2000, the number of visitors to Asia from the Middle East has surged from around 600,000 to over 1.6 million annually.

But Hong Kong only attracts a small portion of those visitors, a situation it is trying to change by promoting itself as a gateway to China for Mid Eastern travelers.

The city already has a sizeable Muslim population. According to Mohammed Khan, one of 15 Muslim leaders of Hong Kong's Islamic Council Union, there are no firm estimates of the number of Muslims in Hong Kong but at his “guestimate, it's around half a million people.“

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August 29th, 2012
07:02 AM GMT
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(CNN) – Forget head versus heart – that's so last century.

For our ambitious millennials, a happy love life also fuels a grand passion for success. This week, we asked millennial David Lloyd– what's love got to do with it?  To his surprise - apparently everything.

Filed under: The Millennials


August 28th, 2012
08:01 AM GMT
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(CNN) – Another week, another round of news that suggests it’s a bad time to be a banker.

First came news Deutsche Bank became the first global bank to that could claw back payouts. Deutsche Bank's clawback rules allow it to take away from newly hired senior staff the un-vested equity bonuses earned at previous employers - if they were turned into Deutsche Bank shares. This is a significant tightening of bonus rules by Europe's largest lender, CNN’s Jim Boulden says. Pay consultants say the rule is unusual in the banking world and comes as European banks now hold employees accountable for questionable behavior.

But the question remains: Will other banks follow? And will the new rules give Deutsche Bank trouble recruiting?
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August 27th, 2012
06:21 AM GMT
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(CNN) - The share price of Samsung Electronics dropped more than 7% in early trading Monday morning as investors had their first opportunity to react to Friday's more than $1 billion decision against the Korean electronics giant by a California jury for infringing on Apple patents.

Samsung dropped 6.3% at the open of South Korea's Kospi index and was down about 7% at noon Seoul time, after dropping as much as 7.7%. The tumble erased $12 billion from the company's market value Monday morning.

Samsung is planning to appeal Friday's decision of a U.S. federal jury which awarded Apple $1.05 billion for copying the look and feel of iPhones and iPad design. The jury rejected Samsung's counterclaims against Apple.

A senior Samsung executive told the Korea Times the decision was "absolutely the worst scenario for us" as he was heading into an emergency meeting at the company's Seoul headquarters on Sunday.
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August 27th, 2012
06:16 AM GMT
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(CNN) - For more than a year, Chris Bayer, a Canadian student, waited tables alongside Chinese migrant workers in a restaurant in Shanghai. While there he received an intimate glimpse of what work life is like for millions in mainland China.

"Nothing was ever really clear," said Bayer, who is now back in Canada. "In the West, people state their mind. In China, there was no sharing of ideas. When it came to new processes, no one ever offered any input. There was no teamwork. People were so afraid of doing something wrong."

Though Bayer's circumstance in China was rare - a foreigner working alongside migrant workers in local eateries is not common - his experience in a Chinese workplace is one that experts say is common.

Whether a restaurant or a massive company, businesses in China revolve around perplexing power structures, where innovative thinking is often stymied, partly by an education system that prioritizes rote memorization over creative thinking, and partly because employees are afraid of offering input that might insult the intelligence of their boss.
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Filed under: BusinessChinaTechnology


August 24th, 2012
07:35 AM GMT
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(CNN) – A South Korea court ruled that both Apple and Samsung violated each other’s patents, in a case that mimics legal battles between the electronics giants around the world.

The Seoul District Court ruled that Samsung must pay $33,350 for infringing two of the intellectual property rights for Apple’s iPhone and iPad. Apple was found to have infringed Samsung’s Wi-Fi technology, and must pay $22,000 in damages.

The court banned sales in South Korea of Apple’s iPhone 4 and iPad 2, Samsung’s Galaxy SII and Galaxy Nexus smartphones and Galaxy Tab and Galaxy 10.1 tablet computers.
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Filed under: AppleTechnology


August 24th, 2012
07:30 AM GMT
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Hong Kong (CNN) - A group representing international companies in China has warned members that police in Beijing, Hebei and Shandong have required international firms to purchase Internet monitoring devices or risk having their connections cut.

The Quality Brands Protection Committee (QBPC), a group aimed at safeguarding intellectual property rights in China, sent an email to its 216 members late last month warning of the police visits, saying it "would cause serious concerns from our members."

The emailed alert, copies of which were provided to CNN, raise particular concerns for international businesses operating in China because many companies often use private networks that allow employees to skirt China's so-called "Great Firewall" of censors. But, based on the QBPC alert, it appears firms in some areas are being asked to install a device within their private systems to track all internet activity– and that information must be made available to police, looking for "illegal activity."
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Filed under: BusinessChina


August 24th, 2012
02:31 AM GMT
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Hong Kong (CNN) – The glitz and prestige of New York’s 5th Avenue makes it one of the most famous streets on the planet. But a torrent of mainland China visitors and a rental war among global brands will soon push the property prices in Hong Kong’s Central district higher than New York’s most expensive address.

As CNN’s Ramy Inocencio reports, Colliers predicts that by 2014, the average retail space in Hong Kong’s Central district (pictured above, left) will eclipse the $2,600 square foot price of New York’s 5th Avenue (pictured above, right). Presently, the average price is about $1,800 per square foot in Central, but prices have been zooming higher as retail brands jostle for prime real estate in this tightly packed territory.
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Filed under: ChinaHong Kong


August 23rd, 2012
06:05 PM GMT
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Kuala Lumpur, Malaysia (CNN) – When Facebook went public in May it became the biggest stock launch of the year, but the two next biggest initial public offerings had something in common - they were both Malaysian companies.

In June, Felda Global Ventures Holdings raised $3.1 billion in shares, and a month later IHH Healthcare raised $2.1billion. Both are Malaysian and for both, key investors came from the Middle East.

“Middle East investment is highly important,” Fung Siu, Asia editor for the Economist Intelligence Unit, told CNN’s Ayesha Durgahee.

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Filed under: Along the silk road


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