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(MENAFN) A survey conducted by Korea Chamber of Commerce and Industry found a pick-up in South Korea’s manufacturing business confidence in the second Quarter, Reuters reported. The group, which …

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S. Korea’s manufacturers’ confidence improve in Q2

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(MENAFN) South Korea’s largest telecoms operator KT Corp. posted 13 percent quarterly growth, as a one-time gain offset higher costs and falling sales from phone calls, Bloomberg reported. KT …

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S. Korea’s KT reports 13% increase in Q4 profit

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S Korea’s Hynix posts USD150m operating loss in Q4

February 2, 2012

(MENAFN) South Korea’s Hynix Semiconductor said that since prices of memory chips dropped due to weak demand, in the fourth quarter, the firm posted an operating loss of USD150 million, reported …

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Bandanna Energy Limited (ASX:BND) Maiden Open-Cut Reserve Statement for South Galilee Project

January 30, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Bandanna Energy Limited (ASX:BND) is pleased to announce that AMCI, the manager for the South Galilee Coal Project (SGCP) Joint Venture and …

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S.Korean Economy Faces Rough Going in Q1

January 16, 2012

(MENAFN – Qatar News Agency) South Korea’s economic growth rate is feared to stagnate or lapse into negative territory in the first half of 2012 on escalating global economic uncertainties that …

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South African granny survives birthday helicopter crash

December 1, 2011

(MENAFN – Jordan Times) A South African granny walked away from a helicopter crash with only scratches and bruises, after she was given a ride as an 80th birthday gift that turned wrong, the Beeld …

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South Korea foreign debt up USD398b

August 24, 2011

(MENAFN) The Bank of Korea (BOK) said that South Korea’s foreign debt reached a new record in the second quarter of the current year of USD398 billion driven by an increasing long-term external debt …

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Prtrofac eyes expansions worth USD4b to fund projects

August 24, 2011

(MENAFN) Petrofac’s chief executive, Ayman Asfari, stated that the company is planning to fund expansions in South East Asia and Africa worth USD4 billion, reported the National. The chief …

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Toyota President Sees Full Production By November

June 4, 2011

(Reuters) – The president of Toyota Motors (7203.T) said on Saturday he expects the automaker to resume full production globally in November and its Japanese output is expected this month to recover to 90 percent of levels seen before a March earthquake. “We are restoring (production) at fast speeds despite ongoing aftershocks,” Akio Toyoda, the grandson of the company’s founder, told reporters during a visit to South Korea. “We expect our output to recover to normal from November … For Japan’s domestic production, we expect to resume 90 percent of our normal output this month,” he said. Toyota and its local rivals have been plagued by shortages of hundreds of components after a magnitude 9.0 earthquake and tsunami on March 11 damaged factories in Japan’s northeast. Production at Toyota is returning to pre-quake levels faster than the company anticipated, with output in June likely to reach90 percent of pre-quake levels, a company spokesman confirmed on Wednesday. That more optimistic outlook compares with a prediction last month for production to return to 70 percent of normal. The president said in April that a complete recovery was expected in November or December. Still, in 2011 overall production may be almost a million vehicles less than Toyota had planned to build at the beginning of the year. Lost output by the end of May was 900,000 cars. Because Toyota builds 38 percent of its cars in Japan compared with a smaller 25 percent at Nissan Motor Co Ltd (7201.T) and Honda Motor Co Ltd (7267.T) the impact at Japan’s biggest auto company has been greater. The president visited South Korea, a small market for the auto giant, to “encourage dealers,” a Toyota Korea representative said, at a time when the automaker is suffering from sales slump in the wake of the quake and a recall crisis. Toyota’s Lexus sales dived 51 percent in April in South Korea from a year ago, while other Toyota vehicle sales slid 41 percent, even as the imported vehicle market grew 14 percent led by vehicles from German carmakers, according to data by Korea Automobile Importers and Distributors Association. Last year, Toyota sold a combined 10,486 Lexus and other models in the South Korean market dominated by Hyundai Motor (005380.KS) and Kia Motors (000270.KS). A shortage of parts resulting from disrupted supply chains means it has lost ground in overseas markets. On June 2, Toyota said it sold only 38,500 cars in China during May, 35 percent less than a year ago. In the United States, its main foreign market, sales in May slumped 28 percent. In contrast, South Korean rivals Hyundai Motor and Kia Motors posted double-digit sales growth and a record-high combined market share last month in the key market, putting their combined U.S. sales almost on par with that of Toyota. (Additional reporting by Tim Kelly in TOKYO; Editing by Robert Birsel) Copyright 2010 Thomson Reuters. Click for Restrictions .

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TODAY'S DEALS: ARA Completes Distressed Portfolio Sale | Multi …

May 23, 2011

Los Angeles–Commercial real estate investment banking firm George Smith Partners recently arranged $17 million in financing for two multifamily properties in California and South Carolina. …

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Baobab Resources plc (LON:BAO) South Zone Drill Programme Update

May 18, 2011

Baobab Resources plc (LON:BAO) South Zone Drill Programme Update

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Another State To Slash Unemployment Benefits

May 16, 2011

Following the example set by four other states, South Carolina lawmakers want to slash benefits for the jobless. The South Carolina State Senate gave preliminary approval last week to a bill that would reduce state unemployment benefits from 26 weeks to 20 weeks while simultaneously cutting unemployment surtaxes for businesses. In recent months Michigan and Missouri cut benefits to 20 weeks , and Florida and Arkansas have slashed aid as well. Those reductions served as models for South Carolina, where the idea to decrease the number of benefits popped up in the last few weeks. “I think 20 weeks is a good balance,” State Sen. Kevin Bryant (R), a proponent of the measure, told HuffPost. “We did see where other states had done that.” The bill also pays back $100 million borrowed from the federal government’s unemployment trust fund. Thirty states owe the federal government a total of $43.8 billion for unemployment loans, according to the Labor Department. Higher federal taxes can automatically kick in for states that owe the feds for two years in a row. Like the other states that have cut aid, lawmakers in South Carolina say it’s time to close budget gaps and coddle business instead of the jobless. “If we can pay down the debt, that will lead to an unemployment tax cut,” Bryant said. “We believe that will help [businesses'] ability to hire.” It’s not just about the budget and taxes, however. “I’ve got several employers that will tell me they’ve had lots of people tell them, ‘You know, I can’t take this job because I’ll lose my unemployment benefits,’” Bryant said. “We’ve got to find ways to stop paying people to stay home.” South Carolina has a 9.9 percent unemployment rate. Last week, Republicans in the U.S. House of Representatives moved legislation that would allow states to use federal unemployment money for debt payments instead of checks for the jobless. States traditionally pay the first 26 weeks of benefits, and Congress provides extra weeks during recessions. Currently, the federal government gives the jobless up to 73 weeks of extra benefits in states with high unemployment. Because the extra benefits are based on the duration of state benefits, cutting the state aid will result in a reduction of the federal benefits as well. Bryant said the jobless would be eligible for about 70 weeks of total assistance if the bill becomes law. The changes would take effect immediately. So far, Democrats support the Republican measure, which won unanimous preliminary approval last week. “As hard as it was for me to vote for that, I thought we needed somehow to balance our system down here so we could pay back the money we withdrew during the Great Recession,” State Sen. John Land (D) said. “Normally, I’m in the corner of the working people, and I hated to do it, but I thought with all the facts I had…at that particular point in time I was willing to do the appropriation, and the next step is we will debate the terms and I might have a change of heart.” Land lamented that the legislature cut unemployment taxes for businesses when South Carolina’s unemployment trust fund ran a surplus a decade ago and didn’t increase revenue before the fund started running dry in 2008. “We had such good employment that the trust fund was just bulging with money and we could give the businesses a cut,” he said. “But then when the system started paying out more than it was taking in…we did not up the rate we were charging employers.” Darrell Scott, vice president of public policy for the South Carolina Chamber of Commerce, said he is “cautiously optimistic” the legislature will pass the bill before adjourning on June 2. Sue Berkowitz, director of the S.C. Appleseed Legal Justice Center, a nonprofit that advocates on behalf of poor people, opposes the measure and said she’s afraid it will pass, particularly because majority Republicans don’t need Democrats’ support to get it through both houses of the General Assembly. “There are other ways to raise revenue in the state that they’re totally unwilling to look at,” she said. “It’s very disappointing we’re not looking out for the regular people of South Carolina.”

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At Epicenter of Past River Flood, A Town On Edge

May 15, 2011

GREENVILLE, Miss. — There’s an old saying in this stretch of the South: “The people of the Delta fear God and the Mississippi River.” That phrase has an added significance in this river town of about 35,000 people. It was just north of Greenville that the river burst its seams in 1927, causing the largest levee break in the history of the Mississippi Valley and forever changing the fate of this Delta town. With the peak of the Mississippi’s surge less than two days away from Greenville, there’s an uneasy edge to a town that deeply understands the natural forces at work on the other side of the levees. “The river has been winning all throughout history,” said H. Ben “Benjy” Nelken, a real estate agent and local history buff who presides over the Greenville History Museum, one of several around town with exhibits on the 1927 flood. “It’s just in the last 50 to 70 years that we’ve gotten it somewhat under control. … But you also know that that river can get pissed off.” Over the past few days, Nelken has had more than his fair share of museum vistors peppering him with questions about whether their part of town flooded during the big one in 1927. So far, Greenville and its surrounding areas have been largely spared from the flooding that is engulfing areas farther south, such as outlying parts of Vicksburg and communities along the Yazoo River. There, the sheer height and force of the Mississippi River is literally pushing smaller tributaries backwards, swallowing farmland and submerging rural neighborhoods. Greenville’s primary threat is from a wholesale failure of one of the main river levees, a scenario that the Army Corps of Engineers, local officials and most residents do not believe is possible. But as the town faces the highest river levels in recorded history, no one can ignore the drama that is unfolding. The high water levels have shuttered the town’s river port, slowing transport of fertilizer and fuel to farmers and preventing shipments of some commodities, including wheat. Greenville’s three casinos, built on the river side of the levee because of state laws, are completely swamped. And hundreds of area homes not protected by the mainline river levee are flooded up to the roofline. Flood watchers view two submerged casinos in Greenville, Miss. Reminders of the high river are everywhere. Wild animals driven from their natural habitats along the river have been spotted around town in increasing numbers. A few nights ago a deer tried to get into the local hospital. Residents have been buying mothballs in increasing numbers to prevent snakes from getting into their homes. And for the past three days, a steady procession of residents has been climbing up and down the steps of the levee to catch sight of the spectacle. “It’s scary. I haven’t ever seen anything like this,” said Dorothy Cosie, a lifelong resident of Greenville. She said she trusts in the strength of the levees, but added, “You can’t just depend on man. You can only depend on the Lord for something like this.” At an interdenominational religious service in the town’s synagogue Friday night, the Jewish rabbi and Presbyterian pastor presiding over the service both touched on the river several times. “I heard the Mississippi River referred to as ‘our dangerous neighbor,’ ” said Jonas Hayes, the Presbyterian minister. “Creation … the land and the rivers … can be dangerous. Just as it can be generous and bountiful.” “Benjy” Nelken, who runs a local history museum, shows parts of town that were ceded to the river after 1927 Greenville remains among the top 10 most populous cities in the state. But before the flood of 1927, its star was rising among the fastest in the South. Known as the “Queen City of the Delta,” Greenville was the largest port on the river between Memphis and New Orleans. With cotton rising to chief prominence among the nation’s commodities, the planters along this section of the river became some of the most powerful businessmen in the nation. The 1927 flood brought Greenville — and its rise — to an abrupt halt. After the levee break about 20 miles north of town, floodwaters inundated Greenville and a vast swath of the state stretching nearly 70 miles east. The aftermath of the flood led to one of the more wrenching dramas of the post-Civil War South. Many of the African American sharecroppers were left homeless but forced to stay in tent cities and work on repairs to the levees. Local planters, afraid of losing their labor force, refused to let thousands of African Americans evacuate on steamboats up the river. Author John Barry concluded in his history of the 1927 flood, “Rising Tide,” the flood was a major catalyst for the African American migration from the South to northern cities like Chicago. In the decades since the flood, Greenville has reworked its relationship with nature. The city has retreated from the river, ceding five blocks of the original downtown to the levee and the banks of the Mississippi. Yet the memories live on. Lifelong resident Iris Stacker, whose relatives were among those who worked on the levee in the wake of the 1927 flood, said tales of the flood are handed down each generation like heirlooms. People in town use 1927 as passwords and building access codes. “It’s almost like 1776, or 9/11,” Stacker said. “That’s out 9/11. It pretty much changed our town forever.”

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10 States Where Food Stamp Usage Is Soaring

May 13, 2011

Of all the disastrous consequences of the economic crisis, perhaps the most devastating is the idea of even more Americans struggling to feed their families. Recent statistics from the USDA indicate that 14.2 percent of the U.S. population was using food stamps in February 2011, or around 44.2 million total, up from 33 million just two years before in 2009. In 2006, the year before the financial crisis, 26.5 million people participated in the program, officially titled the Supplemental Nutrition Assistance Program (SNAP) . The increased rate of food stamp participation has led, in turn, to a significant increase in the amount of money SNAP spends on food benefits. In 2010, the total cost of food stamp redemption in the U.S. rose 29 percent from the previous year, totaling around $64 billion, according to the USDA’s 2010 annual report . And use of food stamps still varies widely by state. New York , for one, saw an 11 percent increase in food stamp participation last year, and the cost of redemptions in the state rose to $5.1 billion from $4.3 billion. Today, around 15 percent of New York’s population collects food benefits. States with smaller populations participate in food stamp programs most often, particularly in the South, where as many as 20 percent of the population is found to use food stamps. Below are the ten states with the highest percentage of population using food stamps.

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NAFTA Cost U.S. 700k Jobs, Report Says

May 12, 2011

When the North American Free Trade Agreement was first signed in 1994, proponents said it would eventually create jobs for the U.S. economy. 17 years later, a new report estimates, the American worker only has hundreds of thousands of job losses to show for it. According to a report by Economic Policy Institute economist Robert Scott, entitled “Heading South: U.S.-Mexico trade and job displacement after NAFTA,” an estimated 682,900 U.S. jobs have been “lost or displaced” because of the agreement and the resulting trade deficit. The historic agreement, signed just three years after the collapse of the Soviet Union, tore down trade barriers between the U.S., Canada and Mexico, making trade and investment easier for businesses without allowing for the cross-border movement of labor. Despite the agreement being considered a boon for Mexico, the country’s economy grew only 1.6 percent per capita on average between 1992 and 2007, The New York Times reported in 2009. The EPI’s calculation of 682,900 jobs lost to NAFTA takes into account jobs created as a result, too. Last year, for example, U.S. exports to Mexico supported 791,900 jobs. It’s just that those jobs created pale in comparison to the 1.47 million U.S. jobs that would be necessary without the imports resulting from NAFTA, the report found. Still, the number of jobs lost to NAFTA looks minimal when placed against the havoc freaked by the financial crisis. Only in 2008, at the height of the crisis, the U.S. economy hemorrhaged 2.6 million jobs, according to CNNMoney . The U.S. is currently considering a similar trade agreement with South Korea, called U.S.-Korea Free Trade Agreement (KORUS FTA). KORUS, like NAFTA, could similarly displace American jobs, EPI warns. Perhaps the most drastic switch post-NAFTA has been in the two country’s trade deficit. In 1993, before the signing of NAFTA, the U.S. held a $1.6 billion trade surplus over their neighbor to the south, which supported 29,400 jobs. By 1997, the tides had turned, and Mexico laid claim to a much larger surplus of $16.6 billion. As of 2010, it’s not even close. Mexico’s trade surplus now hovers around $97.2 billion. Jobs continue to be lost to NAFTA today. In the years 2007-2010, the U.S. economy has lost 116,400 as a result of the trade deficit created by NAFTA. And last year, the growth of Mexican auto exports to the United States alone created more Mexican jobs — 30,400 — than the entire U.S. auto industry. It’s the U.S. manufacturing sector that has suffered most mightily from NAFTA, alone accounting for 60.8 percent — 415,000 total — of the jobs lost to the agreement. Specifically, those making computer of electronic parts have accounted for 22 percent of all job losses, and motor vehicle and parts workers accounted for 15 percent of job losses. Job losses haven’t been limited to certain geographic regions, either, as all fifty states have lost jobs as a result. And while the states with the largest total number of job losses, California and Texas, do hug the southern border, it’s actually manufacturing-heavy states to the north, such as Michigan, Indiana and Kentucky, that have lost the largest share of jobs to Mexico. The below chart tracks jobs displaced as share of total state employment:

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Asian Activities Report for May 12, 2011: South American Iron And Steel Corporation (ASX:SAY) To Acquire Multi-Mineral Exploration Interests In China

May 12, 2011

Asian Activities Report for May 12, 2011: South American Iron And Steel Corporation (ASX:SAY) To Acquire Multi-Mineral Exploration Interests In China

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Otaviano Canuto: South-South Trade Is the Answer

May 11, 2011

Istanbul is now at the center of the development action. In this splendorous city — where West and East converge — leaders from all over the globe have gotten together this week to assess the development results and challenges of the world’s poorest countries. One of the goals of the 4th United Nations Conference on Least Developed Countries is to reduce the number of these nations from the current 48 to 24 over the next decade. And one of the things we can do to ensure this is to increase trade and South-South trade in particular. Some skeptics point out that the over-dependence of low-income countries on commodities and natural resources has limited their economic prospects. Or that it was precisely through trade and financial integration that the 2008 financial crisis was transmitted to many emerging markets, while poorer and less integrated economies remained isolated from the worst of the crisis. But the reality is that in the recovery from the crisis, trade is becoming a powerful engine for economic opportunity. And not in the traditional way. South-South trade is becoming increasingly important. World Bank data shows that while demand in developed countries remains stagnant, trade among developing nations is growing. Between 1996 and 2006, South-South trade tripled and nearly half of imports to low- and middle-income countries now come from other countries like them. China is leading much of the recovery. While the OECD , a group of the wealthy nations, still accounts for most imports, its share has dropped from 69 percent to 59 percent in only eight years. China’s share, on the other hand, has increased from eight to 14 percent. The least developed countries can benefit from the South-South trend because countries like China, India, Brazil and other leading emerging economies are becoming new markets for their products. Beyond volume, poor countries often face significant non-price barriers to breaking into markets in high income countries — like meeting technical standards — so the barriers to entry to developing countries may be lower. And even if traditional barriers tend to be higher in the South than in the North, lowering these would provide an incredible boost to the exports of the least developed countries. In addition, South-South trade can promote diversification, which is key to offset the over-reliance on natural resource exports that many of the poorest countries face. But no matter what they do — whether they continue exporting to high income countries or diversify their exports by finding new markets in the South — the least developed countries need to reduce their trade costs. How? By improving trade logistics — the capacity to efficiently move goods and connect manufacturers and consumers with international markets–and trade facilitation, which goes from better infrastructure (like in ports and transportation corridors) to faster border agencies. It might sound daunting but it is possible. Development agencies like the World Bank are increasing their work on Aid for Trade and trade facilitation. High income countries have a lot to do too. In addition to keeping their markets open to the exports of poor countries, they should help pay for the infrastructure and other trade facilitation improvements in the South. If everyone recognizes that trade increases are at the core of the economic recovery from the global crisis, the benefits will also be global. This blog was originally posted on the World Bank Institute Growth and Crisis website .

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Republicans Ratchet Up Attacks On Labor Board, White House Over Boeing

May 10, 2011

WASHINGTON — Gov. Nikki Haley (R-S.C.) joined a coalition of business interests and Republican lawmakers Tuesday in bashing the National Labor Relations Board for filing a controversial complaint against the Boeing Company last month. At a press conference in the U.S. Chamber of Commerce offices, Haley called the complaint “an unbelievable attack on not just right-to-work states but every state that’s attempting to put their people to work.” In the complaint that attracted Republicans’ ire, the labor board’s acting general counsel said Boeing broke the law in 2009, when it made plans to create a new production line for its 787 Dreamliner. The aerospace company chose to locate its line in South Carolina, rather than in Washington state, where it had an existing workforce of unionized employees. The NLBR’s acting general counsel said Boeing’s move was retaliation against its Washington employees with the International Association of Machinists and Aerospace Workers, who had gone on strike in the past. Unions have hailed the filing as a victory for workers, while business groups have called it a case of federal meddling in corporate decision-making. The complaint has thrown the future of the South Carolina factory into limbo. Although the NLRB has downplayed the significance of the complaint, Republican senators have nonetheless decried it as an attack on free enterprise and right-to-work states like South Carolina. Right-to-work laws prohibit agreements between unions and companies that make union membership a requirement of employment. Generally favored by Republicans and corporate interests, such laws are currently on the books in 22 states, particularly ones in the South. Dan Yager, general counsel of the HR Policy Association, argued at the press conference that Boeing is being “penalized” for negotiating with the machinists union. Even though he expects Boeing to win the case, Yager claimed the filing will have a chilling effect on companies trying to move into right-to-work states. “If you’re an employer who wants to stay out of court… sort of what the general counsel says is the law,” he said. With litigation that could last well over a year, the Boeing complaint is quickly becoming a significant campaign issue leading up to the 2012 elections: Republicans are looking to paint Barack Obama administration as anti-business and in the pocket of labor unions. That was certainly the theme of the Chamber event, where a host of Republican lawmakers took to the podium to knock not only the NLRB, but the White House as well. Last week, several Republicans vowed to block President Obama’s nominees to the labor board. Sen. Lindsey Graham (R-S.C.), who had tough words for the labor board last week, escalated his rhetoric Tuesday morning. He called the complaint “chilling” and “absurd.” “This is legal slander,” Graham added. “There has never been a case like this. … This is politics run amok.” Last week Graham and Sen. Lamar Alexander (R-Tenn.) said they planned on introducing a bill written expressly to nullify the April 20 Boeing complaint. On Tuesday, the lawmakers said the bill is still being tweaked, but will probably be introduced this week. Sen. Jim DeMint (R-S.C.) leveled his criticism directly at NLRB acting general counsel Lafe Solomon, who filed the complaint. “It is absurd in this country that represents free enterprise that one unaccountable, unelected, unconfirmed acting general counsel can threaten thousands of jobs and billions of dollars in investments. This is something you’d expect in a third world country,” he said. “It is thuggery at its best.” “The pandering to unions has gotten so far out of proportion, it’s difficult to accept,” DeMint added, in reference to the White House. In a statement yesterday, Solomon defended the move . “There is nothing remarkable or unprecedented about the complaint issued against the Boeing Company,” he wrote. “It was issued only after a thorough investigation in the field.” In a recent interview with the New York Times , Solomon said he filed the complaint against Boeing because of strong evidence it had tried to move the production line out of retaliation. In company documents and news interviews, Boeing executives had explicitly cited the strikes as a reason for expanding into South Carolina. Sen. Rand Paul (R-Ky.) wondered aloud whether the Boeing complaint indicated the White House had an “enemies list.” “Mr. President… is this decision based on the fact that South Carolina appears to be Republican state?” Paul asked. “That South Carolina is a right-to-work state? I find this appalling, and I respectfully ask the president to rescind this assault on businesses.” Asked whether she agreed with Paul, if she believed the White House may have an enemies list, Gov. Haley said, “Right now no one knows what the White House is doing.”

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Christopher Corson: Less Rhetoric and More of the Law in the NLRB’s Boeing Action

May 9, 2011

The complaint that the National Labor Relations Board (NLRB) issued against the Boeing Company on April 20th has touched off a storm of comment and controversy, much of it wrong. We need to get past rhetoric and look at what the case is really about. In every state in our nation, the law provides important protections for individual workers when they act together to improve their work lives for themselves and their families. The law also says that employers cannot retaliate against workers who engage in protected activities. If retaliation were permitted, there would be no protection. For many years, Boeing employees in the State of Washington have worked through their union, the International Association of Machinists and Aerospace Workers, to improve their work lives at the company — all while helping Boeing prosper by building the best commercial airliners in the world. Equally undisputed is that such activity was protected by law. So when Boeing itself announced that legally protected activities of its workers were the principal reason for moving a substantial portion of the company’s 787 Dreamliner assembly to South Carolina, the company committed unlawful retaliation. The case is that simple. Some commentators cry that the government is trying to tell a company where to put work. Boeing did not violate the law simply by moving 787 assembly. The violation was doing so in response to actions by its employees that the law protects. As the NLRB complaint states , “the relief requested by the Acting General Counsel does not seek to prohibit Respondent from making non-discriminatory decisions with respect to where work will be performed…” Commentators also cry that this case is just a Democratic administration favoring labor. But the rights at stake in this case belong to workers in every state, regardless of their politics and even regardless of whether they are unionized. The NLRB is the law enforcement agency that is supposed to enforce the laws that Boeing broke. Do big companies not have to follow the rule of law? Sadly, there are also commentators who are trying to recast the NLRB’s complaint as pitting northern states against southern ones. Retaliation against workers for exercising protected rights is as unlawful in South Carolina as it is in Washington. The NLRB should enforce the law whenever and wherever retaliation against workers takes place. We in the Machinists are proud to fight for our members at Boeing. We are just as proud to fight every day for our members who work in South Carolina and all across the South. We want Boeing and every other company that employs our members to prosper in the global economy, because that means jobs for our members and economic strength for America. But when any company violates legal protections for workers, the rule of law says there should be consequences. Boeing’s actions are properly before the NLRB, which should decide the case according to the law. The rhetoric should quiet down.

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Emerging Economies Meeting Could Shuffle Global Power

April 13, 2011

BEIJING — The leaders of the world’s largest emerging economies gather this week in southern China for what could be a watershed moment in their quest for a bigger say in the global financial architecture. Thursday’s summit comes at a crucial moment for the expanded five-member bloc known as the BRICS, which groups Brazil, Russia, India, China, and, for the first time, South Africa. Chinese President Hu Jintao, Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, Indian Prime Minister Manmohan Singh and South African President Jacob Zuma will attend. With the G-20 group of major economies seeking to remake parts of the global financial architecture, it’s time for the BRICS to test whether they can overcome internal differences and act as a bloc pursuing common interests. “The key priority is for the BRICS to put creative ideas on the table rather than just react defensively to proposals put forward by the advanced economies,” said Cornell University economics professor Eswar Prasad, former head of the International Monetary Fund’s China Division. Though largely an ad-hoc grouping at present, the BRICS have the potential to emerge as a new force in world affairs on the back of their massive share of global population and economic growth. With the inclusion of South Africa, the group accounts for 40 percent of the world’s people, 18 percent of global trade and about 45 percent of current growth, giving them formidable heft when dealing with the developed economies. Thursday’s one-day meeting in Hainan’s resort city of Sanya marks only the group’s third annual summit, while moves to lend it greater structure, such as establishing a permanent secretariat, remain under discussion. The five countries are loosely joined by their common status as major fast-growing economies that have been traditionally underrepresented in world economic bodies, such as the International Monetary Fund and the World Bank. All broadly support free trade and oppose protectionism, although China in particular has been accused of erecting barriers to foreign competition. In foreign affairs, they tend toward nonintervention and oppose the use of force: Of the five, only South Africa voted in favor of the Libyan no-fly zone. Yet, while the economies of Brazil, Russia and South Africa are driven largely by raw material exports, India and China – the world’s second-largest economy – are oriented more toward manufacturing and services. Brazil and India are also concerned over large trade deficits with China that critics say are supported by a deliberately undervalued yuan. Politically, Brazil, India and South Africa are functioning democracies, while China, and to a lesser extent, Russia, are authoritarian states characterized by heavy government control over the economy and civil society. The very lack of a common cultural, political or geographical identity brands BRICS as a new type of grouping forged by nontraditional concerns such as trade barriers and monetary policy, said Li Yang, a finance expert and vice president of the Chinese Academy of Social Sciences. “The fact that they are grouped together shows the impact of new factors on international relations,” Li said. In approaching G-20 reforms being proposed by France, which holds the body’s rotating presidency, the BRICS can already point to China’s success in advancing a 6 percent shift in voting rights at the IMF that would give it the third-largest say in decision making after the U.S. and Japan. That move also creates seats for Brazil, Russia, India and China on the IMF’s expanded 10-member governing board, while reducing the influence of Britain, France and Germany. A key concern now will be stemming inflation and pushing back against debt-fueled expansionary monetary policies being pursued by developed nations that now suffer from negative or anemic growth. With about 40 percent of world reserves lead by China with $2 trillion, the BRICS countries share a concern over exchange rate volatility and macroeconomic instability in the developed world. Other priorities include reducing economic imbalances and volatility in commodity prices, pushing for even greater influence in the IMF and other bodies, and gaining a say in the potential introduction of new reserve currencies, possibly including the Chinese yuan. Manbir Singh, a top official in India’s Ministry of External Affairs, said discussions should also cover global security, climate change, and social development goals. At this juncture, the five need to answer some fundamental questions about the future of their bloc, such as whether to plan for a permanent organization or to admit new members, said Zhang Yuyan, director of China’s Institute of World Economics and Politics. “They need to decide whether to focus on boosting coordination among their members or simply representing emerging economies in their dealings with the developed nations,” Zhang said. Regardless of the outcome of such debates, the growth of the BRICS represents an important attempt to create new centers of influence and prevent domination of the world economic order by one or two major players, said South Africa’s ambassador to Beijing, Bheki Langa. “This formation plays a very important role in rebalancing the balance of forces on the world stage,” Langa said.

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Iran invests USD16bn in South Pars field

April 11, 2011

Iran invests USD16bn in South Pars field

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Linc Energy Limited (ASX:LNC) Wins Bids For Two New Oil And Gas Exploration Licences In South Australia

April 11, 2011

Linc Energy Limited (ASX:LNC) Wins Bids For Two New Oil And Gas Exploration Licences In South Australia

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Joan K. Smith: Startup Fever: Why it Matters

April 6, 2011

Last month, in the midst of the South by Southwest Interactive Festival when I was reporting on the Startup Bus here on Huffington Post, Michael Taylor of the New York Observer wrote a piece called “Abolish South by Southwest!” in which he cast smart-aleck barbs at the culture surrounding the Interactive portion of SXSW, calling it a “sham of technological confabulation” that uses ideas of techno-utopian progress as a pretense for a self-congratulatory, evangelical frat party. Easy enough to dismiss as attention-getting snarkiness, right? But a few days after that piece ran, Taylor and I appeared as guests on a Minnesota Public Radio segment about Startup Bus and SXSWi. He elaborated on his serious point behind the admittedly tongue-in-cheek article, namely a concern that the rash of entrepreneurial ventures spurred on by movements like the Startup Bus were creating a misallocation of capital toward sure-to-fail “whimsical” projects, and away from “serious” existing businesses. The venerable Mr. Taylor bemoaned the fact that there were Startup Bus projects that dared deal with such fluff as bar trivia, and bemoaned further “cheerleader” media hype surrounding a field where less than 50 percent were destined to successfully find a market. Oh, and the irony of a real-life conference “like our parents went to” being held in an age when we have apps and social media available to “erase [physical] distance.” Unfortunately, Mr. Taylor got the last word before the segment ended. My first instinct in terms of a counterpoint — after dismissing as not worthy of response the notion that without a startup to fund, “misallocated capital” would magically be directed toward established businesses, a notion that ignores the pesky little reality of a free market — would have been to point out the many Startup Bus projects that were not even remotely frivolous. “Help Near Me” from the Cleveland bus dealt with finding geo-located human services to aid individuals in crisis situations, and” Mom and Pop Co-ops,” also from the Cleveland Bus, was a system to enable small businesses to amass aggregate buying power in order to compete with mega-retailers like Walmart; or the finalist from the New York bus, “TripMedi,” which offered a service for making intelligent decisions about finding affordable healthcare procedures overseas, aimed mainly at those who are uninsured and priced out of the American market; or maybe “Isitgood4me” from the Miami bus, an app to scan food barcodes to compare with personal dietary restrictions…the list goes on. But in retrospect that counter-argument would miss the broader point at hand. The fact is, whether the startups are frivolous or not, the crazy energy and direct, interactive spirit of real-life collaboration behind projects like Startup Bus is exactly why they matter, and the very reason they can have a broader impact on innovation culture at large. For me, the value of startup culture crystallized even more completely a few weeks ago when I was a judge for a mobile app development competition sponsored by NJ Mobile Meetup in the Converge Coworking Space at Kean University. After judging, we had the opportunity to chat with a number of the participants and got an impressive view of the collaborative process that prevailed over their 24 hours of work. Just as in the case of Startup Bus, where participants reported a virtual love-fest of cooperation and skill-sharing across competing teams, those who had come into this mobile app competition with more creative ideas than tech chops were readily assisted by those with more advanced skills. Even the teams who didn’t have a project ready for judging came out of the experience with new knowledge, and everyone came away with new connections forged by a shared, high-pressure, and focused work session. The experience provided lessons valuable across the board, whether the fledgling entrepreneurs succeed in getting investment dollars for their own venture or end up joining the traditional workforce as an employee. Getting a massive amount of creative people not just thinking about their own startup, but going through the tangible steps in an intensified and collaborative way, can only be positive for overall business culture. At the very least, this flock of creative and enterprising souls coming up with new ideas — even if they ultimately fail — can goose existing businesses out of staid complacency and into generating their own innovation. Particularly in the exponentially flourishing area of technology, a culture that doesn’t encourage the support of new, young – and yes, even crazy — ideas is a moribund culture that will not keep up with rapid fire changes in the global marketplace. So rather than considering the startup trend to be a hype-driven bubble leading to little more than broken dreams and wasted investments, we should be appreciating the culture of networked innovators that it engenders — a culture of dynamic energy and readiness for challenge. After all, exuberance doesn’t have to be irrational.

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The 3 U.S. Nuke Plants Regulators Are ‘Most Concerned About’

March 31, 2011

WASHINGTON — The Nuclear Regulatory Commission says three U.S. nuclear power plants need increased oversight from federal regulators, although officials stressed that all are operating safely. NRC Chairman Gregory Jaczko (YAHT’-skoh) says the three plants – in South Carolina, Kansas and Nebraska – need more intensive review than other plants because of problems with safety systems or unplanned shutdowns. Jaczko told a House subcommittee Thursday that the plants “are the ones we are most concerned about” among the 65 U.S. nuclear power plants in 31 states. Jaczko did not identify the plants, but an agency spokesman said they are the H.B. Robinson nuclear plant in South Carolina, Fort Calhoun in Nebraska and Wolf Creek in Kansas.

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Future US Appoints Simon Cox as Editorial Director for Future Plus

March 28, 2011

SOUTH SAN FRANCISCO, CA–(Marketwire – March 28, 2011) – Future US, the special-interest media company, today announced the appointment of Simon Cox as Editorial Director for Future Plus, the company’s custom publishing division.

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Paulo Sarti Named Managing Director for Penske Logistics South America

March 23, 2011

READING, PA–(Marketwire – March 23, 2011) –  Penske Logistics has named Paulo Sarti as Managing Director for South American operations. Based in São Paulo, Brazil, he is responsible for the operations and growth of business in South America.

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Benefits Executive Michael Rosenberg Joins Alliant Insurance Services as First Vice President

March 23, 2011

Rosenberg Brings 20 Years of Benefits Brokerage Experience and Knowledge of South Florida Market to Fort Lauderdale, FL Office

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Obama News Conference Scheduled To Address Rising Oil & Gas Prices

March 11, 2011

(AP) – The White House says President Barack Obama will address rising oil and gasoline prices at a news conference on Friday. Fuel prices have been rising amid continued turmoil in Libya, an oil-producing country. News that police opened fire to break up a protest Thursday afternoon in Saudi Arabia also has sparked fears that the unrest could spread to that country. Saudi Arabia is the world’s largest oil exporter. Oil prices soared $3 per barrel in just 12 minutes after the news broke in Saudi Arabia. At the pump, gasoline is averaging $3.52 a gallon – 41 cents more than last month. Obama’s news conference is scheduled for 11:15 a.m. Eastern time. It will be his second full news conference of the year. Later, the president and first lady will welcome their hometown, Stanley Cup-winning Chicago Blackhawks to the White House. Following that get-together, first lady Michelle Obama, National Hockey League Commissioner Gary Bettman and USA Hockey Executive Director Dave Ogrean will preside over a street hockey workout and clinic on a rink set up on the South Lawn. The clinic for local youngsters is part of a new collaboration between Mrs. Obama’s Let’s Move! initiative, the NHL and USA Hockey to encourage kids to lead active and healthy lives.

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Beach Business Bank Welcomes Experienced Bay Cities Commercial Banking Team

March 9, 2011

MANHATTAN BEACH, CA–(Marketwire – March 9, 2011) – Beach Business Bank ( OTCBB : BBBC ) (the “Bank”), has announced the appointment of Mark S. Smith as Executive Vice President & South Bay Market Executive. In addition to Mr. Smith, the Bank has hired Nicole Swain as Vice President & Senior Commercial Relationship Manager. Together, they will work as a business banking team from the Bank’s Loan Production Office in Torrance, CA. Prior to joining the Bank, Mark and Nicole were long-time employees of Bay Cities National Bank (recently acquired by Opus Bank). Mr. Smith has been banking businesses and high-net-worth individuals in the South Bay Cities for more than 25 years.

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Bandanna Energy Limited (ASX:BND) Update On South Galilee Project Coal Quality

March 4, 2011

Bandanna Energy Limited (ASX:BND) Update On South Galilee Project Coal Quality

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Baobab Resources plc (LON:BAO) Announce Second Block 1 Cross Section Results At South Zone Magnetite Prospect

March 1, 2011

Baobab Resources plc (LON:BAO) Announce Second Block 1 Cross Section Results At South Zone Magnetite Prospect

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Peel Exploration Limited (ASX:PEX) Secures High Grade Silver Project in New South Wales

March 1, 2011

Peel Exploration Limited (ASX:PEX) Secures High Grade Silver Project in New South Wales

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Video: Lankov Expects Another North Korean Attack in Few Months

February 28, 2011

Feb. 28 (Bloomberg) — Andrei Lankov, an associate professor at Kookmin University in Seoul, talks about tensions on the Korean Peninsula. North Korea threatened to take military action if the South continues to drop leaflets and other propaganda encouraging revolt, threatening a return of tension on the peninsula that roiled markets last year. Lankov speaks with Rishaad Salamat on Bloomberg Television’s “On the Move Asia.” (Source: Bloomberg)

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Southern States Lack Union Bargaining Rights

February 27, 2011

JACKSON, Miss. — Whenever Mississippi Gov. Haley Barbour has asked lawmakers to weaken benefits for state employees, his proposals have met little resistance from workers. Mississippi is among those states – many in the South – where most government employees do not have the right to collective bargaining, the benefit that has caused a political upheaval in Wisconsin and has become a national flashpoint for those who argue that public employee benefits are too generous. Those states provide a snapshot of what life is like for government employees who do not have the same union clout that workers in Wisconsin and some other states are desperately trying to retain. “We’ve been holding on by a hair through the political process,” said Brenda Scott, head of the Mississippi Alliance of State Employees, which has no bargaining power but provides a voice for state government workers to air their concerns before the governor and Legislature. Across the South, governors like Barbour and state legislatures dominated by conservative lawmakers find it relatively easy to chip away at public employees’ benefits or eliminate government jobs because most state employees in the region – even when represented by a union – lack collective bargaining rights. Nine of the 10 states with the lowest percentage of public employees eligible for collective bargaining are in the South, according to data compiled by Barry Hirsch of Georgia State University and David Macpherson of Trinity University in San Antonio. Their research shows only about two in five public employees nationwide have the type of collective bargaining rights that have drawn fire in Wisconsin and other states. To be sure, government jobs are still seen as more secure and desirable than most private-sector jobs even in states where public employees do not have the right to collective bargaining. In Mississippi, one of the poorest states in the nation, state workers get 10 paid holidays a year, their sick days and vacation days can be rolled over from year to year, and they can retire after 25 years of service under a defined benefit plan. They also have a certain level of civil-service job protection. But those workers have fewer protections and generally less generous compensation and benefits than public employees represented by collective bargaining. While pay and perks vary greatly among states, the primary benefit is that governors and lawmakers cannot unilaterally impose changes, such as pension reforms, without going to the bargaining table, nor can they impose lay-offs without following union tenure rules. In California, where most state employees are covered by collective bargaining, negotiated labor contracts allow state workers to retire, collect their pensions and then return to work, allowing them to make more money than before. They also can purchase more lucrative pension benefits before they retire. Two independent government auditing agencies in California have recommended reforming the state’s pension system, even for current employees, but unions there have vowed to sue if the governor and Legislature try to enact reforms outside the bargaining process. Governors and lawmakers in states without collective bargaining can make such changes without consulting workers. Pensions for new public employees in Virginia, for example, were shifted last year from the traditional defined benefit – the type of pension that many governments say they no longer can afford without major changes – to a 401(k)-style system similar to that used in the private sector. The change was made with little fanfare and no organized opposition. In North Carolina, some state workers are represented by a local of the Service Employees International Union, but the group has no bargaining power. That leaves employees with no real say over how many jobs would be shed this year due to budget cuts – Democratic Gov. Beverly Perdue has recommended eliminating 10,000 state government jobs, 3,000 of them currently filled. In 2009, Perdue signed legislation that made sweeping changes to the state worker health insurance plans, creating higher premiums, deductibles and copays without having to get consent from an employee union. Barbour, a Republican with possible presidential ambitions, came into office on a promise to shrink Mississippi’s state government and reduce employee benefits. Unencumbered by union contracts, he has scored a number of successes. He persuaded the Legislature in 2004 to temporarily erase civil-service protections for corrections employees, which allowed the prison system to fire workers and trim the payroll. Mississippi lawmakers also voted last year to make public employees put 9 percent of their own pay into the state retirement system, up from 7.25 percent, and they’ve made government workers hired since 2006 pay more for their health insurance than their longer-serving colleagues. Barbour defends his actions as tilting the balance of power away from unions and toward the side of state taxpayers. He said he supports Wisconsin Gov. Scott Walker’s effort to eliminate most collective bargaining rights for government workers. “When they have collective bargaining in Wisconsin, on one side of the table there’s state employee unions or the local employee unions. On the other side of the table are politicians that they paid for the election of those politicians,” Barbour said. “Now, who represents the taxpayers in that negotiation? Well, actually, nobody.” In states without collective bargaining, public employees are “completely subject to the power of the governor” because lawmakers often don’t want to get involved labor disputes, said Ed Ott, who has been active in the New York labor movement for 42 years and is a former executive director of the New York City Central Labor Council AFL-CIO. “It’s really about a balance of power between employer and employee,” said Ott, a lecturer on contemporary labor issues at the City University of New York’s Murphy Institute. “Without any collective bargaining rights, you have no ability to say, ‘Whoa, why don’t we try something else?’” Maryland and Tennessee have hybrid systems. Some Maryland employees are represented by unions and have the right to bargain with the governor, but there is no binding arbitration and no right to strike. “We call it collective bargaining-lite L-I-T-E because they’re not as strong as what you see in a number of the northern states,” said Sue Esty, assistant director of the Maryland chapter of the American Federation of State, County and Municipal Employees. Teachers in Tennessee have the right to collective bargaining, but other public employees do not. That is still too much for Republicans in that state’s Legislature, who have wide majorities in both chambers and are looking to quash teachers’ bargaining powers. The Tennessee Education Association, which represents 52,000 teachers, has said the proposal is political payback by Republicans because the group has given more financial support to Democratic candidates over the years. Gov. Bill Haslam has not signed on officially to the movement by his fellow Republicans, preferring to focus on teacher tenure, expanding charter schools and other issues he says are necessary to improve academic performance. But he also sympathizes with their intent to give the Legislature as much leeway as possible to control costs without having to submit to union negotiations. “My job in the state of Tennessee is just like when I was running a company,” said Haslam, a former president of Pilot Corp., a family owned national truck-stop chain. “It’s to bring in the very best people to work, to provide the very best product we can, at the lowest price.” Like its neighboring states, Alabama does not allow public employees to bargain collectively, even though associations representing teachers and state workers have had some success working with the Legislature Lawmakers have approved cost-of-living raises and maintained health and retirement benefits that are better than those offered by most private-sector employers in the state. The two organizations, which traditionally have supported far more Democratic candidates than Republican ones, have come under attack since Republicans gained control of the Legislature in November. Since then, a new law has stopped the organizations from using payroll deductions to raise money for their political action committees and any other political activity, greatly reducing their influence. When the Legislature convenes Tuesday, one of the House Republican leaders will push a bill to provide state-paid liability insurance for education employees. Currently, the Alabama Education Association supplies this insurance as an incentive for teachers to join. “Obviously what they are trying to do is discourage members,” said Paul Hubbert, the association’s executive secretary. ___ Schelzig reported from Nashville, Tenn. Associated Press writers Bob Lewis in Richmond, Va., Gary Robertson in Raleigh, N.C., Brian Witte in Annapolis, Md., and Phillip Rawls in Montgomery, Ala., contributed to this report.

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The Curse Of Negative Equity

February 21, 2011

As more than $113 billion worth of home equity has vanished from South Florida’s housing market in the past five years, the number of homeowners with mortgages that are larger than the values of their properties has become enormous. More than 300,000 South Florida mortgages–or 43 percent of them–are currently underwater, the highest level in decades, if not ever. That’s about four times the number of homes in foreclosure.

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Baobab Resources plc (LON:BAO) Drilling Recommences At South Zone

February 9, 2011

Baobab Resources plc (LON:BAO) Drilling Recommences At South Zone

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Lease Down: Atlas Copco Closing Three Facilities in Move to Houston

February 9, 2011

Stockholm-based Atlas Copco Compressors LLC plans to consolidate three of its U.S.-based facilities into one new common facility in Houston. 125 people are currently employed at the three locations. The objective is to increase competitiveness by creating a competence center for these products. The new factory will produce a wide range of custom designed products and complete packaged solutions for customers across North and South America. It…

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Bandanna Energy Limited (ASX:BND) Announce Resource Update On South Galilee Project Joint Venture

February 8, 2011

Bandanna Energy Limited (ASX:BND) Announce Resource Update On South Galilee Project Joint Venture

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Hagen Realty Group Extends Its Expertise to the Carolinas

February 7, 2011

CHARLOTTE, NC–(Marketwire – February 7, 2011) – Longtime industry veteran William A. Higgins has teamed up with Hagen Realty Group as vice president of the firm’s sales in North and South Carolina.

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The South Korean economy expanded during the fourth quarter of 2010

January 25, 2011

The South Korean economy expanded during the fourth quarter of 2010

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Video: Musikavanhu Says South Africa Is on `An Upward Trend’

January 21, 2011

Jan. 21 (Bloomberg) — Tendai Musikavanhu, chief executive officer of Old Mutual Global Index Trackers, talks about prospects for South African stocks. Musikavanhu also discusses South Africa’s economy, the rand and his investment strategy. He talks with Lisa Murphy on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)

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Ian Fletcher: Libertarianism, the New Anti-Americanism

January 19, 2011

Sometimes the bad guys do us all a big favor, by openly stating what they stand for after spending years denying it. I recently received exactly this sort of favor from an economist, one Don Boudreaux, at the renowned libertarian Cato Institute, a hotbed of free-trade thinking. He wrote: Why should you or I celebrate less an improvement in the welfare of a South Korean than we celebrate a comparable improvement in the welfare of a South Carolinian? ( original here ) That’s it. So finally we have it: after years of telling us that libertarian economics — deregulate this, deregulate that, believe that the free market is always right — is best for America, they admit that, in the end, they just don’t care . This philosophy has the perverse virtue of perfect logical consistency: if you don’t care about what’s good for Americans, why not have free trade? I must grant — and the reader should, too — that the entire policy of free trade makes perfect sense if one adopts this premise. The idea of caring equally about the well-being of people all over the world sounds, of course, like a very sweet and humanitarian philosophy. And in a perfect world, maybe it would be. But there are two very big realities that get in the way: 1) We live in a world of ruthless economic rivalry, so if Americans aren’t willing to stand up for the economic interests of Americans, we just get rolled by multinational corporations and foreign powers that lack such delicate qualms. 2) Libertarianism, for all its pretensions of universalist humanitarianism, is in fact a notoriously selfish philosophy. Someone once defined a libertarian as “an anarchist with a credit card;” they were onto something. The South Korea Free Trade Agreement, America’s largest free-trade agreement since NAFTA, is back on the front burner. So when the libertarians speak up on this issue, as they will, just remember where their hearts are.

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Park Sterling Corporation Names Emory Ware as South Carolina Market President

January 19, 2011

CHARLOTTE, NC–(Marketwire – January 19, 2011) – Park Sterling Corporation ( NASDAQ : PSTB ), the holding company for Park Sterling Bank, announced today that Emory Ware has joined Park Sterling Bank as the South Carolina Market President. A banking veteran with 25 years experience in South Carolina, Mr. Ware will execute Park Sterling’s growth strategy in this region.

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Last Minute Luck: Lottery Win Saves Man’s Home From Foreclosure

January 14, 2011

PAWLEYS ISLAND, S.C. (AP) — A Pawleys Island man says winning $200,000 in the South Carolina Education Lottery has saved his home. John Davis says he went to a hearing on Monday about the possibility of losing his home to foreclosure. Tuesday he let the computer pick his numbers for the Palmetto Cash 5 drawing at a gasoline station in Surfside Beach, adding a dollar to increase his winnings in case he got a winning ticket. Wednesday, Davis discovered he had won. The single father of two girls says he’s had a tough year, financially. Davis says he had just $6 in his bank account when he won. He works at a car dealership and says he plays the lottery almost every day. Davis says he plans to pay off most of his debt and will take a cruise with his daughters when the weather warms up.

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Iron Road Limited (ASX:IRD) Processed Murphy South ‘Discovery Traverse’ Results For Central Eyre Iron Project

January 10, 2011

Iron Road Limited (ASX:IRD) Processed Murphy South ‘Discovery Traverse’ Results For Central Eyre Iron Project

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Video: Oil Sets Tone for Southern Sudan’s Vote on Independence

January 7, 2011

Jan. 7 (Bloomberg) — Bloomberg’s Nicole Itano reports on the referendum in Southern Sudan on Jan. 9 and the possible impact of a north-south split on the share of the country’s oil resources. A vote for independence will give the south control of about 80 percent of Sudan’s current oil production of 490,000 barrels a day.

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US, South Korea reach free trade agreement

December 5, 2010

US, South Korea reach free trade agreement

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IMF cuts South Africa’s 201 growth forecast

December 5, 2010

IMF cuts South Africa’s 201 growth forecast

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Video: Obama Sends Aircraft Carrier After North Korea Attack

November 24, 2010

Nov. 24 (Bloomberg) — The U.S. sent the aircraft carrier George Washington to take part in exercises off the Korean Peninsula in a show of strength after North Korea fired artillery onto South Korean soil for the first time in half a century. President Barack Obama affirmed the U.S.’s support for South Korea in an interview with ABC’s Barbara Walters. (Source: Bloomberg)

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