Tag Archives: sale

China finds $84bn local government debt irregularities

National Audit Office said breaches included “irregular credit guarantees”, “irregular collateral” and “fraudulent and underpayment of registered capital”.

There are growing concerns about the amount of bad loans being held by local governments.Official figures show they held debt of 10.7tn yuan ($1.7tn; £1.1tn) in 2010.

“The State Council is studying proposals to enhance local government debt management and to address fiscal and financial risks,” the audit office said in the report.
‘Again and again’
Continue reading the main story
“Start Quote
A lot of the local debt will be absorbed by the central government”
Michael Pettis Peking University

Local governments have been borrowing money from Chinese banks to fund projects aimed at maintaining economic growth.

According to the China Banking Regulatory Commission, local governments took up 80% of total bank lending in China at the end of 2010.

However, analysts said that although the lending had helped to spur investment and boost growth, it was now weighing on local governments.

“Whenever you look at lending that spurs growth miracles, it starts off with an increasing ability to pay the debt,” Professor Michael Pettis of Peking University told the BBC.

“But in every case that ability fades. That is the process that is happening in China,” he explained. “We are going to see stories like this again and again.”
Easing burden?

In October last year, China allowed four local governments to sell bonds for the first time in 17 year. It was hoped the sale would help them pay their loans.

However, the central government put a limit on the amount of bonds the local governments could issue despite the fact that there was a lot of interest among investors.

According to the Xinhua news agency, Shanghai’s bond sale received bids for three times the amount of bonds on offer.

As a result, many of the local governments still have sizeable debts and while the central government may let them raise money, it may also have to take further measures to solve the problem, analysts said.

“A lot of the local debt will be absorbed by the central government,” said Mr Pettis of Peking University.

this, news, page, this page, local, business, china, debt, stories, share, more, share this, government, $84bn, finds, local government, china finds, finds $84bn, government debt, irregularities, $84bn local, debt irregularities, news business, story, click, watch, related, story related, related stories, malaysia, 16405253, links, this story, about, more this, business 16405253, find, browser, able, navigation, with, here, click here, here find, find more, sales, quote, will, expat, your, shared, default, read, http, video, governments, local governments, greek, march, cycle, style, sheets, style sheets, will able, help, british, have, accessibility, content, facebook, twitter, that, panel, src=, alt=, said, while, best, full, chinese, yuan, media, skip, search, association, association with, with click, email, print, been, amount, again, central, october, free, close, 2012, http news, last, height=, width=, advertisement, times, page facebook, facebook share, page twitter, there, loans, held, bond, banking, debts, show, pettis, peking, pettis peking, , yuan $84bn, irregularities local, bbcimg, news bbcimg, bbcimg media, images, media images,  , accessibility help, asia, health, advertisement click, email this, story email, email print, print this, story print, page this, page been, been shared, shared times, times share, other, page other, places, other places, places share, have been, growing, concerns, growing concerns, concerns about, about amount, amount loans, held local, continue, reading, continue reading, main, reading main, main story, stories china, allow, china allow, allow local, local bond, bond sales, control, china control, shadow, control shadow, shadow banking, fears, surface, fears surface, over, surface over, over chinese, chinese debt, audit, office, audit office, office said, irregular, 2010, report, local debt, debt will, absorbed, will absorbed, absorbed central, michael, michael pettis, money, from, according, however, analysts, analysts said, look, ability, like, year, sale, would, them, amount bonds, interest, further, page share, advice, free advice, moves, moves iran, crude, iran crude, kills, href=, href= http, microsoft, celebrates, microsoft celebrates, death, celebrates death, scans, scans show, meditation, show meditation, brain, meditation brain, brain boost, kissing, just, kissing just, hard, just hard, uses, ipad, uses ipad, cross, ipad cross, border, cross border, crab, ocean, crab ocean, 

Electric cars win hype, staying power questioned

Electric cars win hype, staying power questioned

LONDON (Reuters) – Electric cars are riding high, as incentives and new models make them a realistic option, but the fresh attention may highlight flaws compared with gasoline and alternatives such as biofuels.

The attention rankles with some in the biofuel industry, whose own hype was abruptly halted by a glut of production in 2007, subsequent bankruptcies and a fall from grace after a link was drawn — which they dispute — between biofuels and spiralling food prices and rising hunger.

Gasoline may beat off both alternatives for decades as the least-worst option, with wider adoption of more efficient conventional cars helping to curb carbon emissions and oil dependence.

The uncertainty is striking for a $5-6 trillion global auto and fuel supply market, where there is agreement only that the number of cars will keep rising, perhaps doubling to 2 billion by 2050.

The momentum is with electricity, following an oil price spike in 2008, lavish government incentives and a crippling downturn across the wider car industry. Last week the United States finalised fuel efficiency standards, following similar rules in Europe.

Green cars grabbed centre stage at auto shows this year in New York, Geneva and Detroit, including all-battery cars, hybrid varieties that switch between electric and gasoline, and small, more fuel-efficient conventional cars.

EXPENSIVE

But battery electric vehicles (EVs) are expensive.

Mitsubishi Motors and Nissan Motor Co last week announced prices for their i-MiEV and Leaf battery-only electric cars, in production already or about to debut, at 3.98 million yen ($42,520) and 3.76 million yen respectively before state subsidies, several times the cost of equivalent cars.

Reality bites with driving ranges of about 100 miles (160.9 km), far less than for a petrol car which U.S. customers expect to exceed 300 miles.

And electric cars have to contend with the multi-billion-dollar cost of a new charging infrastructure, although they benefit from running costs at about a quarter of gasoline at today’s prices, according to electric car advocates.

“The electric vehicle sector certainly has momentum, but it’s questionable whether it has the legs for the longer term, at least at the moment, and whether it has enough scale,” said Peter Wells at Cardiff University’s Centre for Automotive Industry Research, who expected big cost reductions.

Success depends on drivers accepting limitations on range and on re-charging time, which takes several hours, said Pierre Gaudillat, research and development manager at the UK-funded Carbon Trust.

“I don’t see any major breakthrough on the horizon,” he said. Customers may have to compromise on what they expect from a car, perhaps tailored for commuting, and from ownership, for example buying the car but renting the expensive battery.

Hybrid gasoline-electric cars overcome the range problem but are still pricey because of their complexity and battery costs.

Sales of hybrid-electric vehicles are expected to reach about 1.3 percent of an estimated 67 million light vehicle sales this year, according to the information company J.D. Power and Associates.

hybrid electric cars,electric car,gem electric cars,electric cars conversion,zenn electric cars,battery electric cars,zap electric cars,electric cars,electric sports car,electric cars tesla,electric rc cars,new electric cars,best electric cars,electric cars batteries,electric cars for sale,buy electric car,electric car sale,the electric car,electric car technology,new electric car,electric car conversions,electric car company,electric car conversion,electric car motors,electric car for sale,electric car manufacturers,used electric cars,who killed the electric car,buy electric cars,small electric cars,electric cars available,american electric cars,all electric cars,electric cars usa,affordable electric cars,full electric cars,gem electric car,electric cars available now,electric car sales,flybo electric ,sparrow electric car,best electric car,affordable electric car,electric car design,american electric car,electric car companies,all electric car,electric car forum,ev electric car,three wheeled electric car,fully electric car,zenn electric car,eliica electric car

Blackberry 8900 Javelin

Blackberry 8900 Javelin

[media id=119 width=500 height=400]

BlackBerry 8900 “Javelin” Key Features:

* Quad-band radios: GSM/GPRS/EDGE (no 3G)
* Wi-Fi b/g with UMA + GPS in one
* OS 4.6.1, featuring Safe Mode start up
* 480 by 360 high-res HVGA+ display
* 512 MHz Processor
* 256 MB onboard flash memory (more room for apps)
* Hot-swappable microSD slot – located under the battery door
* 3.2MP camera, includes auto-focus
* Glass cover – one piece glass cover will house the camera and flash, providing a very polished look and feel
* Micro USB charging/syncing port, w/ high speed data
* Dedicated Lock Button – will allow easy access to lock / hold the device when not using a holster
* “Sweet Spot” narrow keypad
* Battery Cover features a new easy to use, latch mechanism

BlackBerry 8900 Javelin, 8900 Javelin Blackberry news Blackberry Javelin 8900 today, okia n80 pictures, images BlackBerry 8900 Javelin, Blackberry 8900 Javelin Rc1, latest Blackberry Javelin 8900, the latest Blackberry 8900 Javelin, Blackberry 8900 Javelin unused, BlackBerry 8900 Javelin for sale, search , sale, cheap, used goods, telefon bimbit unused, Sony, BlackBerry, 8900