Consider China risk to Malaysia’s economic growth, warns report |
- Consider China risk to Malaysia’s economic growth, warns report
- A look at the Google Cube — ‘No fun’ with the presets
- Penang turns its focus on keeping its living heritage alive
- ‘Invisible’ takes top spot on US bestsellers list
- London cabbies sue uber drivers (VIDEO)
| Consider China risk to Malaysia’s economic growth, warns report Posted: 03 Jul 2014 05:45 PM PDT
Citing Moody's Investor Service, the paper said the entire Southeast Asian region, including Malaysia, was vulnerable to a sharp economic slowdown in China. That's because China's role in the economies of the region had risen sharply, it said, pointing to data showing that 12.2 per cent of Asean's total exports went to China in 2013, up from 7.3 per cent a decade earlier. The situation looks even starker if Malaysia is singled out. Data from the Statistics Department shows that China is Malaysia's biggest trading partner. Total trade between the countries reached just over RM200 billion in 2013, a 12.5 per cent increase from the previous year. Should China's manufacturing-heavy economy falters, its demand for Malaysia's exports will fall away. The sharper the slowdown, the bigger the potential dent on Malaysia's exports. China's breakneck economic growth is already slowing. In the first quarter of 2014, growth was the slowest in 18 months. In recent months the possibility of a banking crisis in China, caused by a poorly regulated shadow banking sector, is muddying the economic outlook for the country. While unprecedented strength in domestic demand was helping Asean economies grow, there was a need to also consider the area's increased linkages to China, the Financial Times said in its report. In Malaysia, strong domestic demand has driven the economy and according to the central bank will continue to underpin growth. But the sturdy domestic demand has come alongside a steep increase in household debt. At 85 per cent of the entire economy in 2013, Malaysia's household debt burden is among the largest in Asia. This large burden could be a telling factor if the economy slows and interest rates rise, putting an end to the days of free spending. Some may start to default on loan repayments but many more will have to start watching their spending habits — a factor that will weigh on domestic demand.  |
| A look at the Google Cube — ‘No fun’ with the presets Posted: 03 Jul 2014 05:44 PM PDT Duration: 03:07, Published 4 Jul 2014 Google wants to change the way we listen to songs, watch and interact with videos. Its Cube is an 'experimental platform for interactive storytelling' that is a box that appears on your computer or smartphone's screen. |
| Penang turns its focus on keeping its living heritage alive Posted: 03 Jul 2014 05:37 PM PDT
There may be thousands of businesses all over the UNESCO World Heritage core zone but of these, a total 611 businesses are traditional trades and occupations. George Town World Heritage Inc (GTWHI) general manager Lim Chooi Ping said a comprehensive inventory of the intangible heritage within the inner city was conducted back in 2012. "GTWHI's ultimate aim is to safeguard the city's intangible heritage and make it more sustainable," she said. "There are plenty of unique trades and skills that have been passed down through the generations but there is a danger that these will eventually die out as the traders either have no one to pass on their legacy or their children are not interested in continuing the trade," she added. This is where the inventory project comes in as it serves to lay the groundwork for future community-based programmes to safeguard the city's intangible heritage and to make it more sustainable. One of the first outputs from the inventory project was the completion of 20 case studies of heritage practitioners — individuals who represent the spirit of George Town with their localised skills. This culminated in GTWHI's release of Penang's Living Legacy: Heritage Traders of George Town which was launched by Penang Chief Minister Lim Guan Eng last week. Chooi Ping said the book is the rightful recognition that the artisans and traditional traders deserve as they are the proof of a living multi-cultural society. Today, through the project, a total 63 different trade categories have been identified in George Town with about 26 businesses more than a century old and 403 businesses that are between 50 and 100 years old. Guan Eng also officiated the opening of a GTWHI Interpretative Centre located at Armenian Street Heritage Hotel at Lebuh Carnavon. The centre is an exhibit of the unique architecture of the heritage buildings and shophouses that made up most of the inner city. The Penang's Living Legacy: Heritage Traders of George Town book is available for sale at the GTWHI office along Lebuh Acheh while the interpretative centre is open during office hours. |
| ‘Invisible’ takes top spot on US bestsellers list Posted: 03 Jul 2014 05:29 PM PDT
Data from independent and chain bookstores, book wholesalers and independent distributors across the United States is used to compile the list. Hardcover Fiction Last Week 1. Invisible by James Patterson and David Ellis (Little, Brown US$28.00) - Hardcover Nonfiction 1. Hard Choices by Hillary Rodham Clinton (Simon & Schuster, US$35.00) 1
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| London cabbies sue uber drivers (VIDEO) Posted: 03 Jul 2014 05:28 PM PDT NEW YORK, July 4 — Erik Schatzker reports the day's top technology headlines. In London, the taxi drivers association are going after uber, the ride sharing app. They have filed criminal proceedings against six uber drivers. In India, the government will team up with Facebook to work on health and education initiatives.— Bloomberg |
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