A Blogger: Nov 7, 2012

Wednesday, November 7, 2012

Asian Equities Slide as U.S. Fiscal Cliff Looms

Asian stocks slid for the first time in three days and the yen advanced as China’s Communist Party meets to pick a new leader and President Barack Obama’s re-election sets up a budget showdown. Oil gained.

Stocks Fall in Asia and the U.S.

Asian stocks slid the most in six weeks and the yen advanced as President Barack Obama’s re-election set up a showdown to avert the so-called fiscal cliff. New Zealand’s dollar declined after the nation’s unemployment rate unexpectedly surged.

Is Dubai the Next Kuala Lumpur?

In this episode of Faith in Finance Dubai is in the spotlight. Can it compete against Malaysia and Saudi Arabia in the market for Islamic finance?

Is Shanghai Ever Going to Be the Paris of the East?

Bloomberg's Margaret Conley reports on Shanghai's rapid economic growth and looks at what the city has to do to become the Paris of the east.

Orecchiette con Cime di Rapa | Euromaxx a la carte

Published on Nov 7, 2012 by deutschewelleenglish

Anna Calia is the head chef at the Regia Corte restaurant in the town of Matera in southern Italy's Basilicata region. Anna serves up "Orecchiette with cime di rapa" - handmade ear pasta with turnip greens - a vegetalbe similar to broccoli.

Want to cook like the pros?
http://www.dw.de/program/euromaxx-à-la-carte/s-7613-9798

Futuristic and Sustainable Designs | Euromaxx

Published on Nov 7, 2012 by deutschewelleenglish

We take a look at the futuristic and sustainable designs of Catalan architect Enric Ruiz-Geli. His buildings boast low energy consumption and heat storage systems - and actually produce their own electricity. Just a few of the reasons why his practice Cloud Nine Studio has reaped an array of awards.

More euromaxx: http://www.dw.de/euromaxx-lifestyle-europe-2012-11-06/e-16314878-9798

Merkel presses for greater political and economic cooperation

Published on Nov 7, 2012 by Euronews

http://www.euronews.com/ German Chancellor Angela Merkel has called for an ambitious, concrete plan for closer fiscal and economic integration in the EU. In a speech at the European Parliament in Brussels, she expressed hope that her plan could be agreed on at a summit later in December.

Angela Merkel, German chancellor:
"Closer economic and monetary integration needs a common economic policy. There was and still is a lack of politico-economic coordination. For instance, it's not possible to ask for more competitive ability on a national level in the monetary union as a basis for growth and jobs and - if there is a need - to enforce it."

Merkel pressed for the harmonisation of financial market regulation, closer fiscal and economic policy integration, and steps to ensure greater democratic legitimacy for European level decisions.

Rebecca Harms
European Parliament Greens' group co-leader:
"Merkel's plans take too long. The divergent European policies are becoming an ever bigger problem."

Yet more food for thought then, for the Chancellor tasked with steering the eurozone out of it's economic crisis.

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World Reacts To Obama Victory

Published on Nov 7, 2012 by NTDTV

Reactions to Obama's victory from Britain, France, India and Tibet.

Full Story:

The U.S. presidential election was closely watched around the world.

In London, people hurrying to work were generally supportive of Barack Obama, but cautious as to the road ahead.

[Daniel Sinott]:
"Very pleased that Obama won. I think he will find it very difficult in his second term, but I think it's certainly good news for America and good news for the rest of the world."

Britain enjoys a close relationship with the U.S., and some believe four more years of Obama will provide the stability, to help steer through tough economic times.

[Julia Luff]:
"Stability is helpful. I think there was a feeling in Britain that in fact we were behind Barack but it is very difficult times economically and I think those sorts of predictions are really difficult to make."

In India, people on the streets cheered Obama's win.

During the president's first term in office relations between the world's two oldest and largest democracies improved significantly.

The former vice chancellor of Delhi University adds that Obama's multi-racial heritage is positive for the world.

[Deepak Pental, Delhi University, Former Vice Chancellor]:
"He inherited bad economy, and I think under the given circumstances, he has done well. He also is half Afro (SIC), so, it is good for the world that a person with that kind of background is President of the United States."

The speaker for the Tibetan Parliament in-exile hopes President Obama will now be in a better position to take a stronger stance against China.

[Penpa Tsering, Tibetan Parliament In-Exile, Speaker]:
"We know President Obama's position on China but now that he already was in the office for the last four years, it would, I am sure contribute towards strengthening America's position inside China or on China. And with the change of leadership in China also the US government has been very supportive for the Tibetan issue for long time and in President Obama's second term we really hope that he will be more stronger, considering the gravity of situation inside Tibet, 63 people have already self immolated and 52 have already succumbed to the injuries."

This French newspaper simply ran the headline "Yes".

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