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Latest News

US Charges Swiss Bank with Helping Americans Evade Taxes

Posted by dharsappa on Jumat, 03 Februari 2012 , under | komentar (0)



Posted Thursday, February 2nd, 2012 at 9:20 pm
The U.S. Justice Department has indicted Switzerland's oldest bank for allegedly helping customers hide more than $1.2 billion from U.S. tax collectors.
U.S. authorities also seized more than $16 million in assets that the Wegelin bank holds in a U.S. account.
The indictment charges Wegelin with soliciting customers from another Swiss bank, UBS, when that institution agreed to stop hiding secret accounts in 2008.
If found guilty, Wegelin could be fined at least $500,000. Three Wegelin employees who advised customers also have been charged. Each faces a $250,000 fine and as much as five years in prison.
This is the first time the United States has formally charged a foreign bank with helping U.S. depositors avoid taxes.
President Barack Obama has pledged to crack down on U.S. citizens and corporations that use overseas accounts to evade taxes. He says tax fraud costs the country billions of dollars a year in revenue.

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Posted by dharsappa on Sabtu, 21 Januari 2012 , under | komentar (0)


Wealthier China Helps Keep Food Price

Posted by dharsappa on Sabtu, 07 Januari 2012 , under | komentar (0)



Don't expect food prices to come down much in 2012, experts say.

While the reasons behind today's high food prices are complex, one nation - China - has an oversized influence on global markets. China's three decades of breathtaking economic growth has fueled a remarkable rise in prosperity in the world's most populous nation.

But what's been good news for China is bad news for many others connected to the global food economy.

Rising prosperity, changing diets

Experts say the first thing people do when they rise out of poverty is improve their diets. That means more meat and animal products.

A few decades ago, meat was a luxury in China. Food was strictly rationed until the 1980s.

Chinese Academy of Social Sciences economist Zhu Ling recalls eating meat only once or twice a month when she was growing up. “Only during Chinese New Year could we get 250 grams of pork each," she says.

But that changed after Deng Xiaoping’s economic reforms in the 1980s, which set the stage for China’s miraculous growth.

“This was an era of change and improvement in food consumption," she says. "Basically, apart from vegans, everybody, every family has seen an increase in meat and seafood consumption.”

Chinese pork consumption has more than doubled since 1990, and chicken consumption is up five-fold.

Feeding animals that feed people

Livestock need to eat, too. Feeding those rapidly growing herds and flocks has quickly made China the world’s most voracious consumer of soybeans.

“Ten, 15 years ago China imported virtually no soybeans at all," says to U.S. Department of Agriculture analyst Hui Jiang. "Since the mid-1990s, Chinese imports have grown drastically, to today dominating over half of the total world trade in soybeans.”

The impacts are felt around the world.

“This has been positive for American agriculture,” says Maryland farmer Dave Burrier.

Soybean grower have seen the price of their crop nearly double since Beijing entered the market. Last year, China imported one out of every four soybeans grown in the United States.

Increasing competition

Demand for soybeans has also helped fuel economic growth in Brazil and Argentina, which now compete with the U.S. for the world soy market.

China's tremendous demand helps push prices up - and not just for soybeans.

All crops need land to grow on. “That puts competition on crops like corn and other crops as well," says Jiang. And competition for farmland is also helping increase the cost of food.

And prices are expected to stay high in part because China is not done growing. Its expanding middle class is projected to more than triple this decade, "and its food expenditure is expected to double in the same timeframe," Jiang says.

"Its impact on demand cannot be overstated,” she adds.

Growth in the developing world

But it’s not just China. People in India, Brazil and other emerging economies are also growing wealthier and eating better. Plus, the world is expected to add another two billion people by mid-century.

That’s good news for farmers like Burrier. “I really think that because of the population increase that we’ll continue to have tremendous demand,” he says.

But for consumers, food prices will likely remain high until supply can catch up with that tremendous demand.

Posted by dharsappa on Kamis, 05 Januari 2012 , under | komentar (0)



Gates offers free software to Indonesian students

Posted by dharsappa on Senin, 02 Januari 2012 , under | komentar (0)



Abdul Khalik, The Jakarta Post, Jakarta | Fri, 05/09/2008 12:28 PM
A | A | A |
GATE TO HIGH TECH: President Susilo Bambang Yudhoyono (right) meets with Microsoft founder Bill Gates in Jakarta on Thursday. During his two-day visit, Gates is  scheduled to attend the Asian Government Leaders Forum 2008 and to speak at a presidential lecture in Jakarta on Friday. (JP/R. Berto Wedhatama)GATE TO HIGH TECH: President Susilo Bambang Yudhoyono (right) meets with Microsoft founder Bill Gates in Jakarta on Thursday. During his two-day visit, Gates is scheduled to attend the Asian Government Leaders Forum 2008 and to speak at a presidential lecture in Jakarta on Friday. (JP/R. Berto Wedhatama)Microsoft founder Bill Gates said on Thursday he would help Indonesian students obtain free software and inexpensive personal computers to gain greater access to the Internet.
During a meeting here with President Susilo Bambang Yudhoyono, Gates, one of the world's richest men, expressed his commitment to supporting the government's efforts to improve education quality by providing Internet-based national education.
"He (Gates) told the President that Microsoft will continue to train teachers and students throughout Indonesia in software, computer and information and communication technology," Coordinating Minister for People's Welfare Aburizal Bakrie told a press briefing after the meeting.
Yudhoyono told Gates that Indonesia and Microsoft should continue to work together as the cooperation would mutually benefit both parties.
The government is seeking to obtain software from Microsoft for a million computers for educational purposes in an effort to cut the ratio of computers to students from the current 1:1000 to 1:20, Aburizal said.
Gates said he was ready to help Indonesia get high-quality personal computers for a price of less than US$200 per unit, plus free software if Indonesia could make a deal with Intel chairman Craig Barrett, who will meet Yudhoyono in Jakarta next week.
"We will make a deal with Barrett to acquire cheap or even free processors for the computers to be distributed to the students. As a result, we will get a much lower price than $200," minister of communication and information Muhammad Nuh said.
He expressed optimism that Indonesia could strike a deal with Barrett, who is known as a leading advocate for education improvement in the United States and around the world, and a vocal spokesman for the value of technology.
Gates also praised Indonesia's progress in fighting software piracy, pointing to fact the country had moved out from a priority ranking on a world piracy watch list.
"Gates' visit shows that he trusts we are making progress in fighting piracy. We are now checking government offices and big businesses to make sure they don't use pirated software. We want to get out from the watch list as soon as possible," Nuh said.
Indonesia ranks as the fourth-worst offender of software piracy in the Asia Pacific after Vietnam, Pakistan and China.
Gates also expressed commitment to expanding the Microsoft Innovation Center program, which now runs at the University of Indonesia, the Bandung Institute of Technology, Gadjah Mada University and the Surabaya Institute of Technology. The center helps students conduct research in the information technology field.
Gates is in Indonesia as a key speaker at the presidential lecture to be held as part of Microsoft's annual Government Leadership Forum, which started Thursday. He will address about 1,500 government officials and business representatives and 1,000 students on Friday.

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