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			'title' => 'Bill Gates Becomes World’s Richest Man Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp. recaptured the title from Mexican investor Carlos Slim Thursday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high. It is the first time Gates has held the mantle since 2007. His fortune is valued at US$72.7 billion, up 16% year-to-date.</p>
<p>
	Slim’s America Movil SAB, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico’s Congress passed a bill that could quash the billionaire’s market dominance. That’s helped erase more than US$3 billion from the 73-year-old tycoon’s net worth. Slim's Net worth is now valued at US$ 72.10 billion.</p>
<p>
	<strong>Microsoft Rally</strong></p>
<p>
	Microsoft shares have surged 28% this year, buoyed by cost controls and sales of business and server software amid weak demand for personal computers running the new Windows 8 operating system. Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and waste-collection company Republic Services Inc.</p>
<p>
	<strong>Buffett, Ortega</strong></p>
<p>
	Berkshire Hathaway Inc. chairman Warren Buffett is the world’s third-richest person with US$59.7 billion, according to the Bloomberg ranking. He is US$3.7 billion ahead of Spaniard Amancio Ortega, Europe’s wealthiest person. Ingvar Kamprad, the founder of IKEA, ranks fifth with a US$55.6 billion fortune. The world’s largest furniture retailer generated more than US$36 billion in revenue and US$4 billion in net income in 2012. Google Inc. co-founders Larry Page and Sergey Brin have seen their fortunes rise more than 22% year-to-date as shares of world’s most popular search provider have surged. They rank No. 18 and No. 19 respectively. (www.bloomberg.com)</p>',
			'published' => true,
			'created' => '2013-06-08',
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			'keywords' => 'Global Business Trends',
			'description' => 'Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp.',
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			'title' => 'Coca-Cola Goes Global With Anti-obesity Push',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world. The Atlanta-based company already offers diet drinks in most markets. But they're not always as readily available in emerging markets such as China as they are in the US.</p>
<p>
	With sugary sodas coming under fire for fueling obesity rates, Coca-Cola Co. has been more aggressive in trying to convince customers its products can be part of a healthy lifestyle.&nbsp;</p>
<p>
	A Coca-Cola spokesman says the goal is to have diet options available wherever regular versions are sold. But that doesn't mean there would be a diet alternative for every particular brand. For example, if a store in India sells Coke it might also offer Sprite Zero, which doesn't have any calories, to meet the goal.&nbsp;</p>
<p>
	The company says it's also working to have cans and bottles around the world display calories counts on the front of the label. The company already does that in the United States. Earlier this year, it began airing its first TV commercial in the US addressing obesity. That ad has since been rolling out to other countries. (AP)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Global Business Trends',
			'description' => 'Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world.',
			'sortorder' => '968',
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			'id' => '1097',
			'article_category_id' => '85',
			'title' => 'Sony Reports First Annual Profit In Five Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier. Sony said the yen’s recent fall, which makes Japanese goods cheaper for foreign buyers, had helped boost sales.</p>
<p>
	A weak currency also boosts profits of Japanese exporters when they repatriate their foreign earnings back home. The Japanese currency has fallen more than 20% against the US dollar since November last year, after policy makers unveiled a series of aggressive measures aimed at spurring growth in the economy. The firm said it expected its profits to rise to 50bn yen in the current financial year.</p>
<p>
	<strong>Asset Sales</strong></p>
<p>
	Sony, once a market leader in various product categories, has seen its fortunes plummet over the past few years. Increased competition, falling prices and narrowing profit margins have hurt its business, especially in the TV segment which has been making a loss for the past eight years. As a result, Sony has been trying to restructure its business model and reduce its costs.</p>
<p>
	As part of the restructuring process, the firm has sold key assets over the past few months, including its US headquarters in New York and some of its shares in M3, a medical research and marketing firm. The firm has also offloaded its “Sony City Osaki” building in Tokyo. Sony said the sale of all these assets had resulted in gains of nearly $2.5bn during the last financial year - and the figure contributed to the rise in its earnings during the period. (BBC)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Global Business Trends',
			'description' => 'Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier.',
			'sortorder' => '966',
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			'id' => '1095',
			'article_category_id' => '85',
			'title' => 'FTZ In Shanghai May Challenge Hong Kong',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong. The major driving force is a 10-year plan for Pudong, or the eastern part of Shanghai, that is grander and bolder than anything that has ever been conceived even by overly ambitious Shanghai officials, state-run China Daily reported today.</p>
<p>
	The plan encompasses an area of 28 square kilometers, including Waigaoqiao Free Trade Zone, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. The area is almost the same size as Macao, and its trade volume topped USD 100 billion last year, the highest on the mainland. In this area, a new economic order will be established with its own set of rules for commerce and finance. Indeed, the Shanghai free trade zone, as it is temporarily called, is set to have even more of an impact than other such entities in Shenzhen or Tianjin, the report said. The project, mapped out at the beginning of this year, is the first of its kind in China. Ready for submission to the State Council later this month for the official seal of approval, the project is expected to start operation in phases in the second half of this year at the earliest. &nbsp;Pudong’s attractiveness also include Disneyland project, which is set to be completed by 2015.&nbsp;</p>
<p>
	<span style="font-size:10px;">(The Economic Times)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Global Business Trends, New Business Age, June 2013',
			'description' => 'China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong.',
			'sortorder' => '964',
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			'id' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
			'image' => null,
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			'id' => '1004',
			'article_category_id' => '85',
			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
			'sortorder' => '879',
			'image' => null,
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	(int) 6 => array(
		'Article' => array(
			'id' => '1003',
			'article_category_id' => '85',
			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
			'sortorder' => '878',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1002',
			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
			'sortorder' => '877',
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			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
			'sortorder' => '876',
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include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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			'title' => 'Bill Gates Becomes World’s Richest Man Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp. recaptured the title from Mexican investor Carlos Slim Thursday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high. It is the first time Gates has held the mantle since 2007. His fortune is valued at US$72.7 billion, up 16% year-to-date.</p>
<p>
	Slim’s America Movil SAB, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico’s Congress passed a bill that could quash the billionaire’s market dominance. That’s helped erase more than US$3 billion from the 73-year-old tycoon’s net worth. Slim's Net worth is now valued at US$ 72.10 billion.</p>
<p>
	<strong>Microsoft Rally</strong></p>
<p>
	Microsoft shares have surged 28% this year, buoyed by cost controls and sales of business and server software amid weak demand for personal computers running the new Windows 8 operating system. Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and waste-collection company Republic Services Inc.</p>
<p>
	<strong>Buffett, Ortega</strong></p>
<p>
	Berkshire Hathaway Inc. chairman Warren Buffett is the world’s third-richest person with US$59.7 billion, according to the Bloomberg ranking. He is US$3.7 billion ahead of Spaniard Amancio Ortega, Europe’s wealthiest person. Ingvar Kamprad, the founder of IKEA, ranks fifth with a US$55.6 billion fortune. The world’s largest furniture retailer generated more than US$36 billion in revenue and US$4 billion in net income in 2012. Google Inc. co-founders Larry Page and Sergey Brin have seen their fortunes rise more than 22% year-to-date as shares of world’s most popular search provider have surged. They rank No. 18 and No. 19 respectively. (www.bloomberg.com)</p>',
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			'created' => '2013-06-08',
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			'keywords' => 'Global Business Trends',
			'description' => 'Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp.',
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			'content' => '<p>
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<p>
	Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world. The Atlanta-based company already offers diet drinks in most markets. But they're not always as readily available in emerging markets such as China as they are in the US.</p>
<p>
	With sugary sodas coming under fire for fueling obesity rates, Coca-Cola Co. has been more aggressive in trying to convince customers its products can be part of a healthy lifestyle.&nbsp;</p>
<p>
	A Coca-Cola spokesman says the goal is to have diet options available wherever regular versions are sold. But that doesn't mean there would be a diet alternative for every particular brand. For example, if a store in India sells Coke it might also offer Sprite Zero, which doesn't have any calories, to meet the goal.&nbsp;</p>
<p>
	The company says it's also working to have cans and bottles around the world display calories counts on the front of the label. The company already does that in the United States. Earlier this year, it began airing its first TV commercial in the US addressing obesity. That ad has since been rolling out to other countries. (AP)</p>',
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			'description' => 'Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world.',
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			'title' => 'Sony Reports First Annual Profit In Five Years',
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			'content' => '<p>
	 </p>
<p>
	Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier. Sony said the yen’s recent fall, which makes Japanese goods cheaper for foreign buyers, had helped boost sales.</p>
<p>
	A weak currency also boosts profits of Japanese exporters when they repatriate their foreign earnings back home. The Japanese currency has fallen more than 20% against the US dollar since November last year, after policy makers unveiled a series of aggressive measures aimed at spurring growth in the economy. The firm said it expected its profits to rise to 50bn yen in the current financial year.</p>
<p>
	<strong>Asset Sales</strong></p>
<p>
	Sony, once a market leader in various product categories, has seen its fortunes plummet over the past few years. Increased competition, falling prices and narrowing profit margins have hurt its business, especially in the TV segment which has been making a loss for the past eight years. As a result, Sony has been trying to restructure its business model and reduce its costs.</p>
<p>
	As part of the restructuring process, the firm has sold key assets over the past few months, including its US headquarters in New York and some of its shares in M3, a medical research and marketing firm. The firm has also offloaded its “Sony City Osaki” building in Tokyo. Sony said the sale of all these assets had resulted in gains of nearly $2.5bn during the last financial year - and the figure contributed to the rise in its earnings during the period. (BBC)</p>',
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			'description' => 'Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier.',
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			'title' => 'FTZ In Shanghai May Challenge Hong Kong',
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			'content' => '<p>
	China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong. The major driving force is a 10-year plan for Pudong, or the eastern part of Shanghai, that is grander and bolder than anything that has ever been conceived even by overly ambitious Shanghai officials, state-run China Daily reported today.</p>
<p>
	The plan encompasses an area of 28 square kilometers, including Waigaoqiao Free Trade Zone, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. The area is almost the same size as Macao, and its trade volume topped USD 100 billion last year, the highest on the mainland. In this area, a new economic order will be established with its own set of rules for commerce and finance. Indeed, the Shanghai free trade zone, as it is temporarily called, is set to have even more of an impact than other such entities in Shenzhen or Tianjin, the report said. The project, mapped out at the beginning of this year, is the first of its kind in China. Ready for submission to the State Council later this month for the official seal of approval, the project is expected to start operation in phases in the second half of this year at the earliest. &nbsp;Pudong’s attractiveness also include Disneyland project, which is set to be completed by 2015.&nbsp;</p>
<p>
	<span style="font-size:10px;">(The Economic Times)</span></p>',
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			'description' => 'China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong.',
			'sortorder' => '964',
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			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
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			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
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			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
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			'created' => '2013-05-23',
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			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
			'sortorder' => '879',
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			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
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			'created' => '2013-05-23',
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			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
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			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
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			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
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			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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		'Article' => array(
			'id' => '1100',
			'article_category_id' => '85',
			'title' => 'Bill Gates Becomes World’s Richest Man Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp. recaptured the title from Mexican investor Carlos Slim Thursday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high. It is the first time Gates has held the mantle since 2007. His fortune is valued at US$72.7 billion, up 16% year-to-date.</p>
<p>
	Slim’s America Movil SAB, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico’s Congress passed a bill that could quash the billionaire’s market dominance. That’s helped erase more than US$3 billion from the 73-year-old tycoon’s net worth. Slim's Net worth is now valued at US$ 72.10 billion.</p>
<p>
	<strong>Microsoft Rally</strong></p>
<p>
	Microsoft shares have surged 28% this year, buoyed by cost controls and sales of business and server software amid weak demand for personal computers running the new Windows 8 operating system. Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and waste-collection company Republic Services Inc.</p>
<p>
	<strong>Buffett, Ortega</strong></p>
<p>
	Berkshire Hathaway Inc. chairman Warren Buffett is the world’s third-richest person with US$59.7 billion, according to the Bloomberg ranking. He is US$3.7 billion ahead of Spaniard Amancio Ortega, Europe’s wealthiest person. Ingvar Kamprad, the founder of IKEA, ranks fifth with a US$55.6 billion fortune. The world’s largest furniture retailer generated more than US$36 billion in revenue and US$4 billion in net income in 2012. Google Inc. co-founders Larry Page and Sergey Brin have seen their fortunes rise more than 22% year-to-date as shares of world’s most popular search provider have surged. They rank No. 18 and No. 19 respectively. (www.bloomberg.com)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Global Business Trends',
			'description' => 'Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp.',
			'sortorder' => '969',
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		'Article' => array(
			'id' => '1099',
			'article_category_id' => '85',
			'title' => 'Coca-Cola Goes Global With Anti-obesity Push',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world. The Atlanta-based company already offers diet drinks in most markets. But they're not always as readily available in emerging markets such as China as they are in the US.</p>
<p>
	With sugary sodas coming under fire for fueling obesity rates, Coca-Cola Co. has been more aggressive in trying to convince customers its products can be part of a healthy lifestyle.&nbsp;</p>
<p>
	A Coca-Cola spokesman says the goal is to have diet options available wherever regular versions are sold. But that doesn't mean there would be a diet alternative for every particular brand. For example, if a store in India sells Coke it might also offer Sprite Zero, which doesn't have any calories, to meet the goal.&nbsp;</p>
<p>
	The company says it's also working to have cans and bottles around the world display calories counts on the front of the label. The company already does that in the United States. Earlier this year, it began airing its first TV commercial in the US addressing obesity. That ad has since been rolling out to other countries. (AP)</p>',
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			'keywords' => 'Global Business Trends',
			'description' => 'Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world.',
			'sortorder' => '968',
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			'id' => '1097',
			'article_category_id' => '85',
			'title' => 'Sony Reports First Annual Profit In Five Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier. Sony said the yen’s recent fall, which makes Japanese goods cheaper for foreign buyers, had helped boost sales.</p>
<p>
	A weak currency also boosts profits of Japanese exporters when they repatriate their foreign earnings back home. The Japanese currency has fallen more than 20% against the US dollar since November last year, after policy makers unveiled a series of aggressive measures aimed at spurring growth in the economy. The firm said it expected its profits to rise to 50bn yen in the current financial year.</p>
<p>
	<strong>Asset Sales</strong></p>
<p>
	Sony, once a market leader in various product categories, has seen its fortunes plummet over the past few years. Increased competition, falling prices and narrowing profit margins have hurt its business, especially in the TV segment which has been making a loss for the past eight years. As a result, Sony has been trying to restructure its business model and reduce its costs.</p>
<p>
	As part of the restructuring process, the firm has sold key assets over the past few months, including its US headquarters in New York and some of its shares in M3, a medical research and marketing firm. The firm has also offloaded its “Sony City Osaki” building in Tokyo. Sony said the sale of all these assets had resulted in gains of nearly $2.5bn during the last financial year - and the figure contributed to the rise in its earnings during the period. (BBC)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Global Business Trends',
			'description' => 'Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier.',
			'sortorder' => '966',
			'image' => null,
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		'Article' => array(
			'id' => '1095',
			'article_category_id' => '85',
			'title' => 'FTZ In Shanghai May Challenge Hong Kong',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong. The major driving force is a 10-year plan for Pudong, or the eastern part of Shanghai, that is grander and bolder than anything that has ever been conceived even by overly ambitious Shanghai officials, state-run China Daily reported today.</p>
<p>
	The plan encompasses an area of 28 square kilometers, including Waigaoqiao Free Trade Zone, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. The area is almost the same size as Macao, and its trade volume topped USD 100 billion last year, the highest on the mainland. In this area, a new economic order will be established with its own set of rules for commerce and finance. Indeed, the Shanghai free trade zone, as it is temporarily called, is set to have even more of an impact than other such entities in Shenzhen or Tianjin, the report said. The project, mapped out at the beginning of this year, is the first of its kind in China. Ready for submission to the State Council later this month for the official seal of approval, the project is expected to start operation in phases in the second half of this year at the earliest. &nbsp;Pudong’s attractiveness also include Disneyland project, which is set to be completed by 2015.&nbsp;</p>
<p>
	<span style="font-size:10px;">(The Economic Times)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Global Business Trends, New Business Age, June 2013',
			'description' => 'China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong.',
			'sortorder' => '964',
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		'Article' => array(
			'id' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
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			'id' => '1004',
			'article_category_id' => '85',
			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
			'sortorder' => '879',
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			'id' => '1003',
			'article_category_id' => '85',
			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
			'sortorder' => '878',
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		'Article' => array(
			'id' => '1002',
			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
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			'id' => '1001',
			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
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		'Article' => array(
			'id' => '1100',
			'article_category_id' => '85',
			'title' => 'Bill Gates Becomes World’s Richest Man Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp. recaptured the title from Mexican investor Carlos Slim Thursday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high. It is the first time Gates has held the mantle since 2007. His fortune is valued at US$72.7 billion, up 16% year-to-date.</p>
<p>
	Slim’s America Movil SAB, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico’s Congress passed a bill that could quash the billionaire’s market dominance. That’s helped erase more than US$3 billion from the 73-year-old tycoon’s net worth. Slim's Net worth is now valued at US$ 72.10 billion.</p>
<p>
	<strong>Microsoft Rally</strong></p>
<p>
	Microsoft shares have surged 28% this year, buoyed by cost controls and sales of business and server software amid weak demand for personal computers running the new Windows 8 operating system. Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and waste-collection company Republic Services Inc.</p>
<p>
	<strong>Buffett, Ortega</strong></p>
<p>
	Berkshire Hathaway Inc. chairman Warren Buffett is the world’s third-richest person with US$59.7 billion, according to the Bloomberg ranking. He is US$3.7 billion ahead of Spaniard Amancio Ortega, Europe’s wealthiest person. Ingvar Kamprad, the founder of IKEA, ranks fifth with a US$55.6 billion fortune. The world’s largest furniture retailer generated more than US$36 billion in revenue and US$4 billion in net income in 2012. Google Inc. co-founders Larry Page and Sergey Brin have seen their fortunes rise more than 22% year-to-date as shares of world’s most popular search provider have surged. They rank No. 18 and No. 19 respectively. (www.bloomberg.com)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Global Business Trends',
			'description' => 'Bill Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp.',
			'sortorder' => '969',
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			'article_date' => '0000-00-00 00:00:00',
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		'Article' => array(
			'id' => '1099',
			'article_category_id' => '85',
			'title' => 'Coca-Cola Goes Global With Anti-obesity Push',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world. The Atlanta-based company already offers diet drinks in most markets. But they're not always as readily available in emerging markets such as China as they are in the US.</p>
<p>
	With sugary sodas coming under fire for fueling obesity rates, Coca-Cola Co. has been more aggressive in trying to convince customers its products can be part of a healthy lifestyle.&nbsp;</p>
<p>
	A Coca-Cola spokesman says the goal is to have diet options available wherever regular versions are sold. But that doesn't mean there would be a diet alternative for every particular brand. For example, if a store in India sells Coke it might also offer Sprite Zero, which doesn't have any calories, to meet the goal.&nbsp;</p>
<p>
	The company says it's also working to have cans and bottles around the world display calories counts on the front of the label. The company already does that in the United States. Earlier this year, it began airing its first TV commercial in the US addressing obesity. That ad has since been rolling out to other countries. (AP)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Global Business Trends',
			'description' => 'Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world.',
			'sortorder' => '968',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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		'Article' => array(
			'id' => '1097',
			'article_category_id' => '85',
			'title' => 'Sony Reports First Annual Profit In Five Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier. Sony said the yen’s recent fall, which makes Japanese goods cheaper for foreign buyers, had helped boost sales.</p>
<p>
	A weak currency also boosts profits of Japanese exporters when they repatriate their foreign earnings back home. The Japanese currency has fallen more than 20% against the US dollar since November last year, after policy makers unveiled a series of aggressive measures aimed at spurring growth in the economy. The firm said it expected its profits to rise to 50bn yen in the current financial year.</p>
<p>
	<strong>Asset Sales</strong></p>
<p>
	Sony, once a market leader in various product categories, has seen its fortunes plummet over the past few years. Increased competition, falling prices and narrowing profit margins have hurt its business, especially in the TV segment which has been making a loss for the past eight years. As a result, Sony has been trying to restructure its business model and reduce its costs.</p>
<p>
	As part of the restructuring process, the firm has sold key assets over the past few months, including its US headquarters in New York and some of its shares in M3, a medical research and marketing firm. The firm has also offloaded its “Sony City Osaki” building in Tokyo. Sony said the sale of all these assets had resulted in gains of nearly $2.5bn during the last financial year - and the figure contributed to the rise in its earnings during the period. (BBC)</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Global Business Trends',
			'description' => 'Sony has reported an annual profit for the first time in five years, boosted by a weakening yen and asset sales. The electronics giant made a net profit of 43bn yen ($436m; £280m) in the year to 31 March, reversing a loss of 457bn yen in the same period a year earlier.',
			'sortorder' => '966',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	(int) 3 => array(
		'Article' => array(
			'id' => '1095',
			'article_category_id' => '85',
			'title' => 'FTZ In Shanghai May Challenge Hong Kong',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong. The major driving force is a 10-year plan for Pudong, or the eastern part of Shanghai, that is grander and bolder than anything that has ever been conceived even by overly ambitious Shanghai officials, state-run China Daily reported today.</p>
<p>
	The plan encompasses an area of 28 square kilometers, including Waigaoqiao Free Trade Zone, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. The area is almost the same size as Macao, and its trade volume topped USD 100 billion last year, the highest on the mainland. In this area, a new economic order will be established with its own set of rules for commerce and finance. Indeed, the Shanghai free trade zone, as it is temporarily called, is set to have even more of an impact than other such entities in Shenzhen or Tianjin, the report said. The project, mapped out at the beginning of this year, is the first of its kind in China. Ready for submission to the State Council later this month for the official seal of approval, the project is expected to start operation in phases in the second half of this year at the earliest. &nbsp;Pudong’s attractiveness also include Disneyland project, which is set to be completed by 2015.&nbsp;</p>
<p>
	<span style="font-size:10px;">(The Economic Times)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Global Business Trends, New Business Age, June 2013',
			'description' => 'China’s largest metropolis and international business hub Shanghai plans to develop a free trade zone in one of its major commercial areas, posing a direct challenge to free port in commercial centre Hong Kong.',
			'sortorder' => '964',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1004',
			'article_category_id' => '85',
			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
			'sortorder' => '879',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1003',
			'article_category_id' => '85',
			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
			'sortorder' => '878',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1002',
			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
			'sortorder' => '877',
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		'Article' => array(
			'id' => '1001',
			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
			'sortorder' => '876',
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			'user_id' => '0'
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include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117