Highly touted freshman Shabazz Muhammad hit a go-ahead 3-pointer with 1:01 left in overtime to help them upset No. 7 Missouri 97-94 on Friday night and extend their winning streak to five games.
http://sportsillustrated.cnn.com/basketball/ncaa/men/gameflash/2012/12/28/79202_recap.html?sct=hp_t2_a4&eref=sihp
Friday, December 28, 2012
The Forbidden City
AsianArtMuseum
In 1420, in an effort to consolidate his control over the throne, the emperor of the Ming Dynasty moved China's capital to a site in the North, now known as Bejing. There, he built a vast complex of palaces and administrative buildings now covering 178 acres. Because access was restricted to the imperial family and to those who had business with them, it came to be known as the Forbidden City.
Snapshot for Shanghai Stock Exchange Composite Index
http://www.bloomberg.com/quote/SHCOMP:IND
Top Gainers & Losers In SHCOMP
| TOP GAINERS | % Change |
|---|---|
| Shanghai Waigaoqiao ... | +10.06% |
| Tianjing Global Magn... | +10.03% |
| Jinlin Ji En Nickel ... | +10.03% |
| Sinolink Securities ... | +10.02% |
| Shanghai Jinqiao Exp... | +10.01% |
| Shanghai Jinqiao Exp... | +9.99% |
| Shanghai Jiabao Indu... | +9.98% |
| Guangzhou Pearl Rive... | +9.98% |
| Xinjiang Tianhong Pa... | +9.96% |
| Zhejiang Guangsha Co... | +9.95% |
| TOP LOSERS | % Change |
|---|---|
| Jiangxi Changjiu Bio... | -9.99% |
| Ningbo Construction ... | -3.10% |
| Wuxi Taiji Industry ... | -2.53% |
| Black Peony Group Co... | -2.45% |
| Sichuan Minjiang Hyd... | -2.22% |
| Shandong Hiking Inte... | -2.08% |
| Datang Huayin Electr... | -2.04% |
| Yantai Xinchao Indus... | -1.91% |
| Fujian Xiamen Xiangy... | -1.91% |
| Beiren Printing Mach... | -1.75% |
First Residential Solar Plant To Connect to State Electrical Grid in China
Source: China Daily 12/27/12
A residential photovoltaic system has been connected to China's State electrical grid for the first time.That accomplishment occurred in Qingdao, Shandong province, giving evidence of the country's desire to promote the use of solar power. "From Dec 22, when it was connected to the grid, to Dec 25, the system generated 17.08 kilowatt-hours," said Xu Pengfei, owner of the system. "This will be enough for our household electricity needs and the surplus can be sold to the State Grid." Local authorities said this is the first project to take advantage of a service that the State Grid Corp of China, which transmits and distributes power in the country, introduced to allow small producers of photovoltaic solar power to connect to the national grid from the start of November. Xu, who works at a solar-power company, learned of that offer shortly after it was made and submitted an application to set up a residential system to State Grid's Qingdao branch on Nov 9. "I am an insider in the industry and am very interested in the actual results of the system," Xu said on Wednesday. Xu's home is on the seventh floor of an apartment building, a living arrangement that forced him to negotiate with every other resident there before he could install the system on the building's roof. Xu said he is satisfied with the service. "I at first bought components for the photovoltaic system and intended to install it by myself," Xu said. "But the State Grid sent two workers to help me for free."
Wu Xinhua, a project manager at Shandong Electric Power Corp, has been following the project from start to finish. "We spent a lot of time designing the working procedures and trying to perfect it," Wu said. "It took 19 days to complete it." The system has an installed capacity of 2 kilowatts. "This system will generate 2,600 kilowatt-hours per year and reduce emissions of carbon dioxide by 2,592 tons (a year)," Xu Pengfei said.
Chinese Photovoltaic firm to supply panels for US solar farm in Arizona
SHIJIAZHUANG - China's Yingli Green Energy Holding Company, a globally leading solar panel producer, said on Tuesday 12/12 that it has supplied 25 MW of solar photovoltaic modules to Arizona's Queen Creek solar farm in the United States. The installation used more than 90,000 Yingli solar modules and will generate electricity to power approximately 3,300 households. The solar farm is owned by PSEG Solar Source, and was developed and built by Colorado-based engineering, procurement and construction contractor Juwi Solar Inc. Under a 20-year agreement, all electricity produced by the Queen Creek solar farm will be purchased by the Salt River Project, the third-largest investor-owned utility in the United States. Miao Liansheng, CEO of Yingli, said the company has consolidated its leading position in ground-based solar installations in the United States through providing products and support to Queen Creek, one of the biggest solar farms in use in the country.
http://www.chinadaily.com.cn/business/greenchina/2012-12/12/content_16010129.htm
http://www.chinadaily.com.cn/business/greenchina/2012-12/12/content_16010129.htm
China to release real-time air quality data
China to release real-time air quality data
China to release real-time air quality data
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Large Medium SmallEmerging Stocks Rise to 8-Month High on China Policy, U.S. Talks
Emerging Stocks Rise to 8-Month High on China Policy, U.S. Talks
By Saeromi Shin & Lyubov Pronina - Dec 28, 2012 2:34 PM PT
Emerging-market stocks rose for a fifth day on speculation China will take steps to boost domestic consumption, while U.S. lawmakers arranged meetings to avert budget cuts threatening growth in the world’s largest economy.
Citic Securities Co. (6030) and Haitong Securities Co. led Chinese brokerages higher after the country’s regulator said it will ease bond financing for securities firms. Vanguarda Agro SA jumped the most in 10 days to lead gains in Sao Paulo. OMV Petrol Ofisi AS (PTOFS), Turkey’s biggest fuel retailer, rose the most in three months after receiving approval to sell a unit.
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The MSCI Emerging Markets Index (MXEF) added 0.5 percent to 1,055.18 in New York, the highest close since April 3 and extending a sixth weekly gain to 1.2 percent. China may introduce measures to boost consumption in areas such as autos, household electronics and solar, the China Securities Journal said. President Barack Obama met with U.S. lawmakers today and is seeking an interim plan to avert more than $600 billion in tax and spending changes in 2013, just three days before a year- end deadline, according to an official familiar with the talks.
“Investors believe differences over the U.S. budget issues will be resolved soon,” Kim Dae Young, a Seoul-based fund manager at KB Asset Management Co., which manages about $28 billion in assets, said by phone. “Policies from China’s new leadership are likely to match investors’ expectations.”
The developing-nations gauge has risen 15 percent this year, beating the 12 percent increase in the MSCI World Index (MXWO) of developed countries. The emerging-markets gauge trades at 12.1 times estimated profit, compared with the MSCI World’s 13.7, according to data compiled by Bloomberg.
Brazil, Russia
Brazil’s Bovespa (IBOV) Index gained 0.9 percent, the first advance in four sessions. Shares of Vanguarda, a Brazilian exporter of soybeans, corn and other crops, jumped 5.1 percent, the most since Dec. 18.
Banco do Brasil SA, Latin America’s biggest lender by assets, jumped to the highest price in three months after Brazil’s central bank cut reserve requirements for lenders to spur investments in Latin America’s largest economy.
Benchmark indexes in Hungary and Romania rose. Russia’s 50- stock Micex Index (VTBMICX)fell 0.2 percent as Urals crude, Russia’s main export blend, declined. OAO Mostotrest, a bridge and road builder dropped 7.8 percent, snapping a four-day advance. OAO Aeroflot, Russia’s biggest airline, rose 2.6 percent to the highest price in three months.
The Istanbul Stock Exchange National 100 Index (XU100) rose to a record for a fourth day. OMV Petrol jumped 5.1 percent, the most since Sept. 7, after the anti-trust board gave approval to sell its 100 percent stake in Petrol Ofisi Arama Uretim Sanayi & Ticaret AS to Tiway Oil BV.
Asian Markets
The iShares MSCI Emerging Markets Index exchange-traded fund, the ETF tracking developing-nation shares, added 0.4 percent to $43.70, the highest price in a week. The ETF has risen 15 percent this year. The Chicago Board Options Exchange Emerging Markets ETF Volatility Index, a measure of options prices on the fund and expectations of price swings, jumped 8.4 percent to 23.04.
The South Korean won gained 0.2 percent to the strongest level since September 2011, completing a sixth weekly gain as signs of a pickup in the economy attracted funds from abroad and exporters repatriated income. India’s rupee climbed 0.3 percent, while the Russian ruble dropped 0.5 percent, the first decline in three days.
The Shanghai Composite Index (SHCOMP) rallied 1.2 percent to the highest since June 21, paring the worst annual performance among major Asian markets this year. The BSE India Sensitive Index climbed 0.6 percent to the highest level in a week. Stock markets in South Korea, Taiwan, Indonesia, Thailand, the Philippines and Vietnam will be closed on New Year’s Eve.
Brokerage Bonds
China Everbright Ltd. (165) soared 12 percent in Hong Kong, the biggest advance since October 2011, making it the best performer on the MSCI Emerging Markets index. The China State Council approved the reorganization of the company, Shanghai Securities News reported yesterday.
Citic Securities surged 11 percent in Hong Kong, while Haitong Securities climbed 6.9 percent. The Chinese government will allow brokerages to issue and trade subordinated bonds on approved exchanges, according to a statement posted on the China Securities Regulatory Commission’s website.
SAIC Motor Corp. (600104), the biggest Chinese automaker, jumped to the highest level since July, and BYD Co. Ltd. (1211), the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., rose 4.1 percent, climbing for a seventh day.
Hyundai Motor
Hyundai Motor Co. (005380), South Korea’s biggest carmaker, slipped 2 percent to the lowest since Nov. 26 on concern a stronger won may cut the value of overseas earnings. Hyundai Mobis (012330) Co., South Korea’s biggest auto-parts maker, lost 1.9 percent.
“Investors’ concern about the 2013 outlook for automakers and the strengthening won may be affecting share prices today,” Lee Hyung Sil, an analyst at Shinyoung Securities Co., said by phone.
The extra yield investors demand to own emerging-market debt over U.S. Treasuries was unchanged at 271, according to JPMorgan Chase & Co.’s EMBI Global Index.
To contact the reporters on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net; Lyubov Pronina in London at lpronina@bloomberg.net
To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net
China Rejects Claims Of Producing Fake Medicine For Africa
by Jonathan Kaiman in Beijing guardian.co.uk, Friday 28 December 2012 05.15 EST
Malaria and antiretroviral drugs at a medical dispensary in Tanzania. Photograph: Alamy
China has denied allegations that it has been exporting huge amounts of counterfeit medication to Africa, threatening public health in east Africa, five days after the Guardian published a front page exposé on the phenomenon.
The official Xinhua news agency said a foreign ministry spokeswoman rejected the accusation, but "called on foreign traders to procure medicines from legitimate companies through standardised channels".
"Spokeswoman Hua Chunying said at a daily press briefing that the accusations are unfounded, noting that co-operation between the Chinese government and African countries has played an important role in improving the healthcare environment for people in Africa," Xinhua reported on Thursday night.
The Guardian article cited experts and NGO reports as saying that up to a third of anti-malarial drugs in Uganda and Tanzania may be fake or substandard, and that the majority of them are manufactured in China and India. The drugs look identical to real ones, and can only be distinguished with lab testing. Aside from malaria drugs, analysis of antibiotics and contraceptives have also turned up fakes. "Some pills contain no active ingredients, some are partial strength and some the wrong formulation entirely," said the article.
The fake medications have led to deaths, prolonged illness and increased drug resistance in areas of east Africa, the article said.
A Chinese foreign ministry official refused to specify which parts of the Guardian article the ministry disputed. She said that the repudiations were aimed at the question of counterfeit drug exports, not the article specifically.
Counterfeit drugs are an endemic and long-running issue in China. According to official statements, Chinese police seized £113m worth of fake pharmaceuticals this July alone and £19m worth last November. Many ingredients were found to be harmful or toxic.
According to Xinhua, the foreign ministry spokeswoman "stressed that China always attaches great importance to drug safety and resolutely cracks down on the manufacture and sale of counterfeit drugs" and defended Beijing's record of providing healthcare aid to African countries.
Malaria and antiretroviral drugs at a medical dispensary in Tanzania. Photograph: Alamy
China has denied allegations that it has been exporting huge amounts of counterfeit medication to Africa, threatening public health in east Africa, five days after the Guardian published a front page exposé on the phenomenon.
The official Xinhua news agency said a foreign ministry spokeswoman rejected the accusation, but "called on foreign traders to procure medicines from legitimate companies through standardised channels".
"Spokeswoman Hua Chunying said at a daily press briefing that the accusations are unfounded, noting that co-operation between the Chinese government and African countries has played an important role in improving the healthcare environment for people in Africa," Xinhua reported on Thursday night.
The Guardian article cited experts and NGO reports as saying that up to a third of anti-malarial drugs in Uganda and Tanzania may be fake or substandard, and that the majority of them are manufactured in China and India. The drugs look identical to real ones, and can only be distinguished with lab testing. Aside from malaria drugs, analysis of antibiotics and contraceptives have also turned up fakes. "Some pills contain no active ingredients, some are partial strength and some the wrong formulation entirely," said the article.
The fake medications have led to deaths, prolonged illness and increased drug resistance in areas of east Africa, the article said.
A Chinese foreign ministry official refused to specify which parts of the Guardian article the ministry disputed. She said that the repudiations were aimed at the question of counterfeit drug exports, not the article specifically.
Counterfeit drugs are an endemic and long-running issue in China. According to official statements, Chinese police seized £113m worth of fake pharmaceuticals this July alone and £19m worth last November. Many ingredients were found to be harmful or toxic.
According to Xinhua, the foreign ministry spokeswoman "stressed that China always attaches great importance to drug safety and resolutely cracks down on the manufacture and sale of counterfeit drugs" and defended Beijing's record of providing healthcare aid to African countries.
Green energy efforts underway in Beijing schools
http://www.chinadaily.com.cn/china/2012-12/13/content_16015697.htm
Energy efficiency measures on Beijing 's college and university campuses will greatly reduce emissions and save energy in the city , the municipality 's education authority said .As about 100 colleges and universities take up energy conservation measures related to the heat-supply system , it is believed the city will save about 50 million cubic meters of gas during the winter ."Many colleges are adjusting their heating system in accordance with the outdoor temperature ,wind power and sun illumination , so as to reduce gas consumption ," said Li Huayong , deputy director of the energy conservation and emission reduction office under the Beijing Municipal Commission of Education .
In addition , many colleges and universities also are lowering the indoor temperature in the teaching building at night and during winter vacation , when fewer people are around , to save energy , he said .According to China Agricultural University , the campus saves about 15 percent of energy use a year thanks to the boiler improvements on campuses ."The network of pipes , which is controlled by central computer and can achieve a high-level district heating system , will prevent unnecessary energy consumption ," said Zhang Jingyu ,deputy director of the energy management center of the campus .
"This alone can save some 400,000 cubic meters of natural gas every year , which is 900,000 yuan ($143,800)."
The city is also carrying out water and power-saving measures as well to further reduce energy consumption , according to Nan Bin , director of the heating supply office of the Beijing Municipal Commission of City Administration and Environment .Campuses are among the major energy consumers , together with shopping malls , office buildings and hotels , and energy conservation enforcement at colleges and universities will greatly reduce emissions in the city , he said .
Energy-saving measures at Beijing schools bear fruit - 12- 13 21:23
Yahoo reports year-end gold demand surge in China
http://news.yahoo.com/asia-gold-china-buying-picks-075738843.html
Asia Gold-China buying picks up to dodge year-end supply crunch
Reuters – Tue, Dec 11, 2012
* Hong Kong gold premium rise to as high as $1.50/oz
* India buying slows as prices rebound from one-month low
By Rujun Shen and Siddesh Mayenkar
SINGAPORE/MUMBAI, Dec 11 (Reuters) - Gold premiums in Hong Kong rose to their highest in about five months on Tuesday as Chinese banks stocked up on bullion to avoid a supply crunch when refineries close shop for the year-end holidays.
Gold bar premiums in Hong Kong rose to as high as $1.50 an ounce above London prices, compared to 50 cents to $1 over the past few weeks, dealers said.
"Chinese buying has been picking up," said Dick Poon, general manager of Heraeus Metals Hong Kong Limited. "The banks want to keep some inventory and prepare for the holiday demand around the Lunar New Year."
Refineries typically close around Christmas and New Year, creating a supply shortage which could lead to a spike in premiums, dealers said.
"There probably won't be much supply around until mid-January," said Ronald Leung, a dealer at Lee Cheong Gold Dealers in Hong Kong.
The premium in Shanghai gold prices over London also widened, indicating rising demand in the Chinese market. Spot gold traded on the Shanghai Gold Exchange traded at 343.85 yuan a gram, or $1,716 an ounce, at a premium of about $8 over spot gold.
Demand for retail gold usually rises ahead of the Lunar New Year holiday in China, which falls in mid-February this year.
The pickup in Chinese buying follows data from Hong Kong which showed last week that net gold flows from the former British colony into China in October hit their lowest level since June 2011 due to high prices and weak interest.
INDIA BUYING SLOWS AS PRICES REBOUND
India's benchmark gold on the Multi Commodity Exchange bounced from a one-month low of 30,710 rupees per 10 grams hit last week, and was trading at 31,349 rupees.
"If prices fall to 31,000 rupees there could be good wedding demand for another month and a half," Pankaj Kumar Agarwal, director at Brijwasi Bullion and Jewellers in the northern Indian city of Lucknow.
The wedding season, which started in September and peaked last month, continues until early January. Gold is an essential gift item during this season in India, the world's biggest buyer of the metal.
Spot gold traded around $1,710 an ounce, rebounding from a one-month low of $1,683.79 hit last week.
In Southeast Asia, dealers reported a pick up in demand from Thailand and Indonesia as market players tried to avoid the supply crunch in the end of the year.
"We see buying from Thailand, and Indonesia which has been absent from the market for a while," said a Singapore-based dealer.
The premiums in Singapore were quoted in the range of 70 cents to $1, dealers said.
In Japan, the discount on gold bars narrowed to 50 cents from 75 cents last week, said a Tokyo-based trader.
"We haven't seen much gold selling in recent days," said the trader. "Some manufacturers are purchasing gold to stock up their products before the New Year holidays, so the discount is tighter now."
WEEK AHEAD
Market players will watch the U.S. budget talks and the resurfacing political turmoil in Italy, key factors that will affect gold prices in coming weeks.
Refineries will start to shut down before the year end, and their schedule will be closely monitored by physical gold buyers concerned about supply crunch. (Editing by Miral Fahmy)
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