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October 15, 2014
Virtual currency founder pleads not guilty in New York
New York (AFP) Oct 14, 2014
A man accused of founding an online underworld bank that allegedly laundered $6 billion for criminals, including child pornographers and drug traffickers, pleaded not guilty in New York on Tuesday. Arthur Budovsky, 40, who renounced his US citizenship and acquired Costa Rica nationality in an apparent bid to avoid prosecution, faces a maximum of 30 years in prison if found guilty by a US district court in Manhattan. US prosecutors say he was the "principal founder" of Liberty Reserve, which oper ... read more

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Satellite Services supplies on-board sub-systems for smallsats and microsats.
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Australia fast-tracks visas for super rich
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China's Li discusses Russia deals ahead of Putin talks
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Romania lifts immunity for ex-minister in Microsoft probe
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Tempur-Pedic Mattress Comparison & Memory Foam Mattress Review
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24/7 News Coverage
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China and Germany vow to deepen ties at Li-Merkel summit
China and Germany vowed to build up already massive business ties at their third summit this year in Berlin Friday, amid tougher times for Asia and Europe's biggest economies. ... more
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Virtual currency founder extradited to face US charges
The founder of virtual currency firm Liberty Reserve, Arthur Budovsky, was extradited Friday from Spain to face US criminal charges for operating what officials called a massive money-laundering scheme. ... more
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Egypt raises over 8 bln USD for new canal project
Egyptians' purchases of the New Suez Canal investment certificates on Monday hit 60 billion Egyptian pounds (about 8.4 billion U.S. dollars), an amount the authorities said was required for financin ... more
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Mobile wallet adoption years away: eMarketer
Industry tracker eMarketer on Thursday said that use of smartphones as wallets will jump in the US next year, but shoppers won't be quick to abandon cash or credit cards. ... more
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What Google's tax row with France says about income tax
Google is in a row with France about how much corporate taxes it pays. Like the Obama Administration's outrage about businesses moving headquarters abroad, this dispute demonstrates corporate taxes, along with personal income taxes, are obsolete. ... more
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Lego lays building blocks for Asian dominance
Lego is making global domination look like child's play, as the world's biggest toy-maker puts the building blocks in place to lead rivals in Asia and buck an industry-wide revenue dip. ... more
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China a drag on steel demand: trade body
Global demand for steel will grow by just 2.0 percent this year owing to a rebalancing of the Chinese economy and a slowdown in other emerging countries, the sector's trade body said on Monday. ... more
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Chinese firm secures mining deal in nickel-rich New Caledonia
Chinese group JinPei has signed a pact with a firm in nickel-rich New Caledonia to mine and process the ore after the world's top producer Indonesia imposed a ban on exports of the metal. ... more
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Social networks make push as shopping destinations
They're not just for sharing any more: Facebook and Twitter are now looking to play a bigger role in shopping. ... more
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Cyber-crime costing US billions: FBI chief
China is waging an aggressive cyber-war against the United States which costs American business billions of dollars every year, Federal Bureau of Investigation director James Comey said Sunday. ... more
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Mainland Chinese shoppers stay clear of Hong Kong
Sleek luxury store fronts plastered with political slogans and shops eerily empty of customers: the scenes in protest-gripped Hong Kong have left unsuspecting mainland Chinese visitors stunned in peak holiday season. ... more
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Chinese PM to visit Germany for joint cabinet meet
Chinese Premier Li Keqiang will visit German Chancellor Angela Merkel for a joint cabinet meeting of the Asian and European export powers next week, Berlin said Wednesday. ... more
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Protesters press HK leader to quit, China tells US to back off
Hong Kong pro-democracy protesters demanded that the city's embattled leader meet a deadline to resign on Thursday, as China warned the United States against meddling in its "internal affairs". ... more
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Alibaba and Wanda face off: online and offline
China's former richest man Wang Jianlin once bet Alibaba founder Jack Ma 100 million yuan ($16.3 million) that online purchases in the country would not eclipse bricks-and-mortar buys in the next decade. ... more
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Fashion made-in-China: fine for everyone but the Chinese
It has been called fashion's dirty little secret but according to Miuccia Prada, soon everybody will be doing it. ... more
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LME says will ramp up trading fees by 34%
The London Metal Exchange, the main global metals market, said Monday it will raise fees by about a third in the first hike since its takeover by the Hong Kong Stock Exchange. ... more
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A year on, foreign firms still await FTZ reform bonanza
China on Monday hailed the first anniversary of its first free-trade zone (FTZ), but foreign companies expressed disappointment over the pace of pledged reforms as they await real business opportunities. ... more
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Spanish PM visits China in bid to boost trade
Spanish Prime Minister Mariano Rajoy on Thursday made his first visit to China, meeting with top officials in Beijing on a trip aimed at expanding trade with the Asian giant. ... more
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Microsoft chief makes first China visit amid probe: report
Microsoft Chief Executive Officer Satya Nadella is visiting China for the first time since taking the post in February, state media said Friday, as authorities probe the US technology giant for alleged monopoly behaviour. ... more
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France's Sanofi opens research hub in China
French pharmaceutical giant Sanofi opened a research hub in Shanghai Thursday, the company said, as foreign drug firms face government scrutiny after drugmaker GlaxoSmithKline (GSK) was found guilty of bribery last week. ... more
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China's CITIC wins interim injunction in Mineralogy dispute
Chinese-owned CITIC has won an interim injunction temporarily halting a bid by Australian tycoon Clive Palmer's company Mineralogy to terminate its mining rights to a multi-billion dollar iron ore project. ... more
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One million Filipinos join booming Philippine outsourcing sector
The Philippines' booming outsourcing industry now employs a million people after growing almost tenfold in just over a decade, the industry association said Wednesday. ... more
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Farmers protest planned $50-bn canal in Nicaragua
Hundreds of farmers Tuesday demonstrated against a new $50 billion waterway aimed at rivalling the Panama Canal, irate at plans to expropriate the land they work. ... more
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China travel warning hits Philippine tourism industry
Tens of thousands of Chinese tourists have cancelled trips to the Philippines after a travel warning by Beijing, inflicting major pain on hotels, airlines and tour operators, industry figures said Tuesday. ... more
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