November 25th, 2011
05:28 AM GMT
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(CNN) – These days, anyone who’s anyone in the entertainment industry has their own clothing line, energy drink, or at the very least, perfume. Chinese basketball superstar Yao Ming is kicking it up a notch, releasing a wine bearing his name.

The 2009 Napa Valley cabernet sauvignon is produced by Yao’s own Yao Family Wines and will be auctioned off at a charity event held by the Special Olympics.

“Basketball gave me the opportunity to live in the United States and discover many wonderful things in America. Now I look forward to bringing great wines from California back to the Chinese people,” Yao said in a statement.

There are only 1,200 bottles of the wine in existence and at 3,800 yuan  ($597) each, none will be sold on the open market, China Daily reported. On Sunday, the wine will be auctioned at a starting price of 60,000 yuan ($9,429).
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November 18th, 2011
06:22 AM GMT
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Hong Kong (CNN) - In Taiwan, legislation is moving towards legalizing the world’s oldest profession, but in practice the trade remains largely underground.

Under the revised Social Order Maintenance Act, which went into effect in early November, prostitution is legal in designated red-light districts, but so far no local governments have been willing to create these zones, rendering prostitution anywhere illegal.

“You [the government] tell us that both the sex worker and the client would not be penalized within the district, but where is it?” Chung Chun-chu, secretary general of the Collective of Sex Workers and Supporters told the Taipei Times. “So far, none of the local governments have any plans to create red-light districts.”

All 22 county and city mayors have expressed concern that creating prostitution districts would lead to increased crime and plummeting property values, according to an Apple Daily survey.
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November 15th, 2011
04:41 AM GMT
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(CNN) - What does “the 1%” see when viewing news reports on the Wall Street demonstrators camping in the cold to protest wealth disparity? Apparently one rich rapper sees an opportunity to make money.

Rapper and business mogul Shawn Carter, better known as Jay-Z, has debuted a collection of t-shirts on his Rocawear line playing off the Occupy Wall Street movement. The shirts, which are selling for $22.99 and read "Occupy All Streets”, were wiped from the brand's website over the weekend in response to allegations that Carter – whose net worth is estimated at $450 million – was trying to profit from the 99%, but are back up again.

Although Carter sold Rocawear to Iconix Brand Group in 2007 for $204 million, according to the New York Times, he continues to be creatively involved in the brand.
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November 11th, 2011
07:31 AM GMT
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(CNN) –Today, November 11, 2011 or 11/11/11, marks the second to last repetitive date of its kind this century—12/12/2012 will be the last—and around the world weddings, births, the Egyptian pyramids and even corduroy are being influenced by the supposed cosmic significance attached to this date.

The date, which happens to be Veterans Day in the U.S. and Remembrance Day in Commonwealth countries, is a perfect palindrome and occurs only once a century.

Couples all over the world are scrambling to get married on this supposedly auspicious date. In Las Vegas, the Clark County clerk’s office has already received 3,500 applications for marriages on November 11; usually there are only 1,000 applications per month, the International Business Times reported. FULL POST

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October 25th, 2011
04:45 AM GMT
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Hong Kong (CNN) – India is expected to overtake fellow Asian powerhouse China in terms of GDP growth in 2013, according to a new report from Ernst and Young.

India is forecast to achieve 9.5% growth, compared with China’s expected 9%. FULL POST



October 21st, 2011
07:48 AM GMT
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(CNN) – The floods in Thailand may cost the country more than tumultuous political uprisings did last year, as officials revise GDP growth expectations and maintain interest rates.

The Thai economy is now expected to grow less than 3% this year, down from previous estimates that put growth at around 4%, according to the Governor of the Bank of Thailand, Prasarn Trairatvorakul. This translates into shrinking 1.1% in the fourth quarter from a year earlier, Finance Minister Thirachai Phuvanatnaranubala told Reuters. Interest rates will remain unchanged at 3.5%, the first time rates were not increased since 2006.

In 2010, when “red shirt” antigovernment protesters clashed with the military in violent uprisings, the GDP grew 7.8%, according to an IMF report, despite concerns that the chaos would scare away tourists and investors.
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October 14th, 2011
07:14 AM GMT
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(CNN) – A new Catalyst study examining career advancement strategies has debunked the myth that women make less because they don’t ask—they do, they just aren’t being heard.

According to the study, men who employ traditional career advancement strategies—such as making your willingness to put in time and effort known and accepting challenges—are more likely to be rewarded, in the form of promotions or pay raises, than men who don’t.

However, women who adopted these strategies were not much more likely to advance than women who didn’t.
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September 30th, 2011
07:04 AM GMT
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(CNN) – In the world of wealthy women, China is leading the way.

Of 28 self-made female billionaires around the world, 18 came from China, according to a recent report compiled by Hurun Report ranking China’s wealthy.

Hurun reported that of the top 10 self-made female billionaires in the world, seven are Chinese. U.S. media mogul Oprah Winfrey barely made the top ten, with her $2.7 billion fortune putting her as the 8th richest self-made woman in the world. Rosalia Mera of Spain’s fashion powerhouse Zara came in third, with a net worth of $4.5 billion. Benetton clothing’s Guiliana Benetton’s $2.5 billion fortune put her at number 10, according to Hurun.
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September 23rd, 2011
04:32 AM GMT
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Hong Kong (CNN) – According to a report compiled by Savills, a global real estate consultant, Hong Kong has the world's most expensive luxury property market.

Of the 10 “world class” cities profiled—Hong Kong, London, Moscow, Mumbai, New York, Paris, Singapore, Shanghai, Sydney and Tokyo—the average £6,700 ($10,316) per square foot price of Hong Kong luxury homes was the highest in the world. Behind Hong Kong was Tokyo’s £5,190 ($7,991) price per square foot. Paris, with luxury flats averaging £3,270 ($5,035) per square foot, came in third.

The report noted that Hong Kong’s luxury homes were twice as expensive as London’s per square foot, and more than 10 times more expensive than Sydney’s.
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