July 5, 2010  Nº 927 -  Vol. 8

"Without promotion something terrible happens... Nothing!"

P.T. Barnum

Insider's view: see how local concerns shape up the global world. Read the daily press review in Migalhas International


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MiMIC Journal

Bank of China to raise up to $8.9bn in share issue

The Bank of China says it plans to raise up to 60bn yuan ($8.9bn;£5.9bn) by issuing new shares in Hong Kong and Shanghai. It is part of a $42bn fund-raising effort by China's four biggest lenders, designed to boost their capital bases. The Agricultural Bank of China is preparing for what is expected to be the world's largest share issue. The banks have to boost their balance sheets after increasing lending as part of government stimulus measures.


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  • Brief News

Brazil's Lula pays tribute to Africa's historic role

Brazil is committed to help Africa build a future of stability and development, Lula has said. On his last African tour as president, he said Brazil could never repay its historic debt to the continent. His successor would have a moral duty to increase trade and investment, he told West African leaders in Cape Verde. Brazilian trade with Africa has quadrupled since Lula became president in 2002. The Brazilian leader has made improving links with Africa a vital part of his foreign policy, which emphasizes "South-South" relations.

Videla trial opens in Argentina

Former Argentine military ruler Jorge Videla has gone on trial for the murders of more than 30 political prisoners in 1976. The 84-year-old, who is already serving a life sentence for abuses committed during military rule, is one of more than 20 defendants. A presidential pardon given to him in 1990 was recently overturned by the supreme court. Up to 30,000 people were tortured and murdered between 1976 and 1983.

Clinton urges Armenia to revise new media law

U.S. Secretary of State Hillary Clinton said on Monday she had raised U.S. concerns about an Armenian law that could limit pluralism on radio and television and was told that the government might change it in the autumn.

FedEx, UPS send out fleet of lobbyists to shape labor law

For more than a year, FedEx and its bitter shipping rival, United Parcel Service, have been engaged in one of the fiercest lobbying battles in recent memory, with millions of dollars spent on advertising, Web sites, grass-roots organizing and other tactics more commonly seen in political campaigns. The reason for all the excitement? An obscure, 230-word provision that would require FedEx Express to comply with the same labor laws as UPS, making it easier for the International Brotherhood of Teamsters and other unions to organize. The dispute also underscores the increasingly sophisticated, campaign-style tactics used by corporations and unions to press their positions in Washington, from drink makers condemning proposed soda taxes to the sweeping PR battles that swirled around the health-care debate. But unlike those cases -- where the policies in question would have broad impacts on consumers -- the FedEx-UPS fight centers on a policy that would directly affect only one company.

Cuts Likely to Boost Public-Sector Fraud

Cuts in spending and staffing in the public sector are likely to lead to a pickup in public-sector fraud in the next few years, business services firm PricewaterhouseCoopers LLP said in a report published Monday. Governments around the world are cutting slashing spending in an effort to bring down budget deficits that widen ed sharply during the financial crisis and the severe recession it engendered. But according to a survey of senior public-sector executives, measures of that kind create the conditions that are most likely to lead public-sector workers to consider fraudulent actions. "Our experience tells us that economic pressures have a direct effect on people's ability to rationalize fraudulent actions,"  said Ian Elliott a partner at PwC. Public-sector fraud can take many forms, including stealing, false accounting, and bribery. According to the PWC survey, the second of these may become more common when workers are under increased pressure to meet targets. "Linking pay to performance is also likely to be a possible driver of fraudulent activity," PwC said. "Organizations therefore need to be aware of the correlation between compensation structures and a heightened fraud risk." PwC said staff reductions also create the conditions where fraudulent actions are possible, since the emphasis on preserving "front line" jobs can lead to a reduction in the resources dedicated to making internal checks.

  • Weekly Magazine Review


The best laws money can buy. On Sale: Your Government. Why Lobbying Is Washington's Best Bargain.


The Man Who Would Convict Goldman Sachs. (Robert Khuzami, SEC’s director of enforcement).  A prosecutor best known for putting terrorists behind bars is about to take on one of the biggest challenges of his career—proving Goldman Sachs committed fraud.

Business Week

How America Can Create Jobs. Andy Grove, the former Intel chief says "job-centric" leadership and incentives are needed to expand U.S. domestic employment again

The Economist

Cyberwar. It is time for countries to start talking about arms control on the internet.

Le Nouvel Observateur

La vérité sur les produits bio.

Der Spiegel

Schluss mit dem Schul-Chaos! - Ein Plädoyer für ein einheitliches Schulsystem.

  • Daily Press Review

Israel-Palestinian leaders to meet
Al Jazeera, Doha, Qatar

Israel PM 'Lying' over Shalit Talks: Hamas
Asharq Al-Awsat, Pan-Arab daily, London, England

Duststorm, rain and lightning hit Al Ain
Gulf News, Independent daily, Dubai, United Arab Emirates

IDF objector sprays 'Free Gaza' graffiti on Warsaw Ghetto wall
Haaretz, Liberal daily, Tel Aviv, Israel

FILM: One West Bank Town's "Unarmed Courage"
IPS Middle East, International cooperative of journalists, Rome, Italy

Muslims asked to vacation in Turkey after Israeli boycott
JPost, Conservative, Jerusalem, Israel

Mohammed attends financial meeting
Khaleej Times, English-language daily, Dubai, United Arab Emirates

ME airlines at forefront of recovery: IATA
Middle East North African Network, Online financial portal, Amman, Jordan

NY's John Kennedy Airport Terminal Evacuated after Bomb Scare
Nahamet, Online news portal, Beirut, Lebanon

Panel formed on Lebanon poll law
Saudi Gazette, English-language daily, Riyadh, Saudi Arabia

Brazil, Argentina back home after World Cup disappointment
The Daily Star, Independent daily, Beirut, Lebanon

Iran pushes US on missing scientist
Times of Oman, English-language daily, Muscat, Oman

Parliament to address arms possession law
Yemen Observer, Sana'a, Republic of Yemen

The OPEC Fund for International Development Scholarship
Yemen Times, (Independent weekly), Sana'a, Republic of Yemen

Talks on civil service redundancy
BBC News, Centrist newscaster, London, England

Hunt continues for UK shooting suspect
BreakingNews.ie, Online news portal, Cork, Ireland

Toyota to recall over engine defect
Daily Express, Conservative tabloid, London, England

The truth about mega-farms: Chemical fumes, distressed animals, poisoned locals
Daily Mail, Conservative daily, London, England

Pirelli to sell broadband communications unit in 2010
DMeurope, Online news portal, Amsterdam, Netherlands

POLAND: Komorowski set to win cliff-hanger presidential poll
France 24, Issy-les-Moulineaux, France

Your crazy horoscope for the week starting July 5
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Kim Kardashian's Lunch Hour Outfit Update
Look Magazine, London, England

Weekend of events across Cumbria
News & Star, Independent daily, Carlisle, England

U.S. Secretary Of State Heads To Georgia
Radio Free Europe, Prague, Czech Republic

Armed Cops Hunt For Gun Rampage Suspect
Sky News, Independent newscaster, Middlesex, England

Right-Wing Rejection: Neo-Nazis Spurn Germany's Diverse New National Team
Spiegel International, Liberal newsmagazine, Hamburg, Germany

More officers join Raoul Thomas Moat manhunt
The Guardian, Liberal daily, London, England

Oil spill clean-up costs top GBP 2 billion
The Independent, London, England

Court to rule on Nevin appeal
The Irish Times, Centrist daily, Dublin, Ireland

From Australian Burgers to St. Petersburg Hoods
The Moscow Times, Independent daily, Moscow, Russia

Fugitive shot PC over cop lie by ex
The Sun, London, England

Usher and A-Team join British milk campaign
The Telegraph, London, England

Police intensify search for killer gunman Raoul Moat
The Telegraph, Conservative daily, London, England

Bull 1, Mexican matador: never again
Times Online, Conservative daily, London, England

Sail Banda committee inspects Kisar via Kupang
Antara News, News agency, Jakarta, Indonesia

Oil hovers near $73 amid light 4th of July trading
China Post, English-language daily, Taipei, Taiwan

10th Seoul International Financial Forum Kicks Off
Chosun Ilbo, Conservative daily, Seoul, South Korea

IG Punjab suspends five police in Data attack inquiry
Dawn, English-language daily, Karachi, Pakistan

Belarus Maneuvers Ahead of Customs Union
Gazeta.kz, Official online newspaper, Kazakhstan

Suicide quartet hit Pak troops: officials
Hindustan Times, New Delhi, India

Bharat bandh affects normal life across the country
India Express, News portal, Mumbai, India

Aarushi samples to be sent to US lab
India Times, Conservative daily, New Delhi, India

Villa's late goal saves Spain
Japan Times, Independent centrist, Tokyo, Japan

Gulatis files slander counter suit against model Zahnita
Malaysian Star, Online news portal,  Selangor Darul Ehsan, Malaysia

Australian to be tried over bush fire deaths
New Zealand Herald, Conservative daily, Auckland, New Zealand

Commander surrenders
Pajhwok Afghan News, (Independent news agency), Kabul, Afghanistan

Biden talks with Iraqi leaders on gov't formation (3)
People's Daily Online, English-language, Beijing, China

Medical advice via internet injurious to health
Sify News, Chennai, India

Anna the red-faced 'spy'
Sydney Morning Herald, Centrist daily, Sydney, Australia

42 bodies recovered from landslide in southwest China
Taiwan News, English-language daily, Taipei, Taiwan

Yunlin to reduce daily garbage by 100 metric tons
Taiwan Today, Government Information Office, Taipei, Taiwan

Russian spies currently in US exceed Cold War record
Thaindian News, Bangkok, Thailand

NDA, Left bandh today against oil price rise
The Hindu, Left-leaning daily, Chennai, India

Queen attends church and Queen's Plate
Canadian Broadcasting Centre, Toronto, Ontario

Election petition appeal being heard
Caribbean360, Online news portal, St. Michael, Barbados

Net News publisher passes away
Cayman Net News, Online news portal, George Town, Cayman Islands

Dominican opposition party's president suggests convention date
Dominican Today, Independent daily, Santo Domingo, Dominican Republic

MEXICO: Conservation Can Be a Weapon Against Poverty
IPS Latin America, International cooperative of journalists, Rome, Italy

Shut up!
Jamaica Gleaner, Independent daily, Kingston, Jamaica

Peru State Development Bank Plans First Global Bonds Sale by End of Year
Living in Peru, News portal, Lima, Peru

July 5: What's in the stars for you today?
The Globe and Mail, Centrist daily, Toronto, Canada

World Cup: Spain beats Paraguay 1-0
Toronto Star, Toronto, Ontario

'Food prices too high'
Trinidad Guardian, Independent daily, Port-of-Spain, Trinidad

Summit to debate Somalia crisis
BBC News, Centrist newscaster, London, England

Two Days of Mourning Declared after 235 Die from Oil Tanker Explosion
CongoPlanet.com, Independent online news aggregator

Black Stars expected home tonight
GhanaWeb, Online news portal, Amsterdam, Netherlands

Obama honours troops
iafrica, Online news portal, Cape Town, South Africa

SA welcomes over one million visitors
Independent Online, News portal, Cape Town, South Africa

Opposition leader wins election in Somaliland
Jimma Times, Online news portal, Jimma, Ethiopia

Armstrong escapes carnage as peloton piles up
Mail & Guardian Online, Liberal, Johannesburg, South Africa

Minister urged to address irregularities in Nbte
Vanguard, Independent daily, Lagos, Nigeria


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