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Jack Ma of Alibaba becomes China's richest person SHANGHAI: The largest stock offer in history has made Jack Ma, founder of e-commerce giant Alibaba, China's richest person with a fortune of $25 billion, an annual wealth ranking in the world's second largest economy showed on Tuesday."It has been an amazing year for China's best tycoons despite the jitters about the Chinese economy," said China-based luxury magazine publisher Hurun Report in its annual rich list.Ma reaped more than $800 million selling shares in the company he set up 15 years ago as Alibaba listed on the New York Stock Exchange on Friday, based on company filings, with the value of his remaining stake of 7.8 percent surging to more than $17 billion by Monday.Last year, the estimated wealth of the former English teacher turned Internet entrepreneur was just over $4.0 billion, which did not even place him in the top 20.Alibaba's listing raised a total of $25 billion.But only ...

China jails Uighur scholar for life for 'separatism': lawyer BEIJING: A Chinese court on Tuesday sentenced a prominent scholar from China's Uighur minority to life in prison for "separatism," his lawyer said, in a case which critics say could add to tensions in the restive Xinjiang region.Ilham Tohti, a former university professor and outspoken critic of Beijing's policies in the vast western region, "will certainly appeal", the sentence handed down by a court in Xinjiang's capital Urumqi, Li Fangping, one of his lawyers, told ...
Indonesia's Widodo unveils energy action plan, to halt Petral oil trading JAKARTA: Indonesian president-elect Joko Widodo plans to halt operations at Pertamina's energy trading unit Petral to allow for an audit of its operations as part of efforts to fight alleged fuel smuggling and corruption, a senior adviser to Widodo said. In his first energy action plan since being confirmed as president-elect by the Constitutional Court last month, Widodo will also impose major changes at state-owned Pertamina and cut coal exports to ensure ample domestic supplies ...
Hong Kong students take democracy strike to government HQ HONG KONG: Hong Kong students took their anti-Beijing strike to the government headquarters Tuesday, with hundreds gathering at the harbourside complex to protest against China's refusal to grant full democracy to the city.Organisers said 13,000 university students massed at a northern campus on Monday to launch a week-long boycott of classes, a strong showing that breathed new life into the democracy campaign which had been stunned by Beijing's hardline stance.Activists have said the student protest ...
Abe drops plan for Putin visit to Japan this year: media TOKYO: Prime Minister Shinzo Abe has dropped plans to host Russian President Vladimir Putin in Japan this year due to friction after Tokyo imposed sanctions on Moscow over the Ukraine crisis, reports said Tuesday.The two countries had agreed on the Russian leader's visit "this autumn" but Washington had asked Tokyo to postpone it, Kyodo News reported, quoting Japanese government sources.Tokyo also sees it as important to keep in step with the West as it has ...
Thousands of Hong Kong students on strike for democracy HONG KONG: Hong Kong students on Monday began a week-long boycott of classes, gathering in their thousands for what democracy activists say will be a wider campaign of civil disobedience against China's refusal to grant the city unfettered democracy.Student activists crowded onto a campus on the northern outskirts of the city, many sheltering from the hot summer sun under umbrellas and waving their faculty flags, as their leaders vowed to ratchet up their campaign if ...
Taiwan begins clear-up in aftermath of tropical storm TAIPEI: Taiwanese authorities on Monday started clearing the damage from tropical storm Fung-Wong that pounded the island with torrential downpours and powerful winds over the weekend leaving one dead and four injured.Fung-Wong scraped the north and south of Taiwan but did not make landfall as had previously been forecast, sparing the island from the full force of the storm.The torrential rains that left residents knee deep in water Sunday had mostly subsided by Monday, leaving ...

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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln