Most of the Asian currencies have edged back up again after months of being in a slump compared to the greenback currencies which according to healthy US jobs report have lowered cautiousness in the US economic recovery.

Economists’ estimations of the condition of the US job market were beaten by recent job reports, indicating that the US economy is heading in the right direction, denying previous murky economic forecasts.

Frances Cheung, a strategist at Credit Agricole CIB in Singapore, said “Sentiment was boosted by the decent US data, which suggests the recovery may be gaining some traction.”

Strengthened currencies send out a strong signal that their economies will remain strong in terms of growth rate and other parameters like liquidity position; expanding scope for investors to park their net worth. Investor sentiments flows with situation, turning investment activity low when economic prospects are weak and gears up with brighter prospects.

Recently, foreign investors pushed $600 million into stock markets in Taiwan, India, and Thailand, according to Bloomberg. This pushed the markets up. Currency Analyst Jonathan Cavenagh at Singapore-based Westpac Banking Corps said “the better data tone is allaying fears the global economy was going to roll off the cliff.”

In the last five months, Indian rupees surged 0.7 percent to 51.8174 per dollar, following reforms in the retail sector and strong foreign fund inflows, while currencies of other Asian countries like the Philippine peso jumped 0.7 percent to 41.42, Malaysian ringgit rose close to 0.5 percent and Thailand baht advanced 0.8 percent.

South Koran won erased its losses last week against the US Dollar reaching 1,111.4 per dollar since November 2011 while Taiwan’s dollar upped itself merely 0.1 percent.

Currency fluctuation speaks lots about a country’s financial health, trade balance and growth rate. A currency which loses its value against international currencies is the symbol of prevailing illness in the economy while currency regaining considerable strength symbolizes brighter prospects for the country.

Tsutomu Soma, manager of the investment trust and fixed income business unit at Rakuten Securities Inc., said “With global central banks introducing measures to support their economies, risk sentiment is improving.” Mr. Soma further said, “Developed nations will keep interest rates low for a long time and that makes higher yields, offered by emerging countries attractive.” 

Opening of the retail sector for foreign investment played a formidable role in turning India into a hot destination for investment again. This has lead to robustness in the Indian rupee, also divestment and allowing overseas airlines to invest in domestic carriers has solidified the currency.

Increased concerns by central banks and high hopes of constructive intervention by investors in Asia, with easing fears of US economy weakening again, has helped to boost investor confidence in many Asian countries.

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New York, U.S.A. — Asian institutional investors planning to increase investments in non-Asian companies express a preference for the equities of companies that draw revenue from Asia or have a secondary equity listing on a local exchange, according to a survey conducted by BNY Mellon, the global leader in investment management and investment services. The survey, titled Asia’s Evolving Investment Landscape, is BNY Mellon’s first-ever formal study of this category of investors.

Recognizing Asia’s potential as a source of investment, BNY Mellon undertook a survey to gain further insight into current investment practices in the region and conducted 40 in-depth interviews with investors in Hong Kong, Singapore and China, representing more than US$60 billion in equity assets under management.

The report focused on these locations as they are the primary destinations for companies considering secondary equity listings. Investors provided views on their need for portfolio diversification, their appetite for global equities, and the potential opportunities in these markets for global equity issuers.

“We’ve known for years that ‘home market bias’ to invest in domestic companies is more pronounced among Asian institutions, and that there’s a strong desire to correct that,” said Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. “Now, we can see how ripe the opportunity is for global issuers and how they can increase their chances of cultivating ties to investors in Asia.”

The report focused on three types of investors: mainland Qualified Domestic Institutional Investors (QDIIs); Hong Kong– and Singapore–headquartered investment firms; and Hong Kong– and Singapore–based subsidiaries of global asset management firms.

The study uncovered a strong desire among institutional investors in these markets to diversify more globally their equity holdings. Nearly half (47%) plan to increase investments in companies domiciled outside their home market over the next one to five years. They cited client requests, portfolio diversification, and opportunities for growth as factors motivating them to look abroad. “We are moving in a direction to increase the rate of investment outside of Asia,” said a survey respondent from a Hong Kong-headquartered investment firm. “We are striving to increase our global mandate.”

BNY Mellon found that each additional percentage point in global allocations of Asia-based institutional portfolios potentially equates to $7.3 billion in equity assets. This figure underscores the substantial opportunity for global issuers as the portfolio allocations of Asian institutions fall in line with peers in North America and Europe that invest larger proportions in equities of non-domestic companies.

Several factors impact on a global issuers’ decision to raise equity capital in Asia, the study found. The investors surveyed were particularly open to investing in companies that derive revenue from Asia, with 54% saying that it was a key criterion. In addition, a listing on a regional exchange universally increases both the awareness of non-Asia-domiciled companies and the likelihood that institutions in Asia will invest in them. More than half of the investors surveyed (53%) said a secondary listing on an Asian exchange increases the chances they will invest in foreign-domiciled companies.

“I do not differentiate between the Hong Kong, Singapore and other Asian exchanges. The company simply has to be listed on one of the regional exchanges for us to invest in it,” said a respondent from a Hong Kong-based subsidiary of global asset management firm.”

“There’s a substantial overlap of interests between investors in Asia looking to diversify their portfolios and global companies looking to raise capital,” said Guy Gresham, New York head of the global IR advisory team in BNY Mellon’s DR group. “A secondary listing and open investor communications policy go a long way in helping these companies gain access to long-term equity capital in this part of the world.”

Additional findings of the survey include:

• Overall, 62% of institutions surveyed said a local exchange listing increases their awareness of a company.
• Hong Kong- and Singapore-based investment firms were the most definitive in stating that a local listing increasing their likelihood of investing in a foreign company, with 57% responding affirmatively and 62% saying that a listing in Asia increases their awareness of a company.
• Over half of the investment community surveyed (61%) does not definitively differentiate between the regional exchanges in Asia where foreign companies have secondary listings.
• More than half of investors (55%) are not required to meet with senior management of foreign companies before making an investment, and many report that as long as they can correspond with management throughout the year, a face-to-face meeting is not vital to their decision-making process when considering investment opportunities outside of Asia.
• Over two-thirds (70%) of investors surveyed would like to meet management teams at least semi-annually for meetings and informational updates, and 97% would like to correspond with management at least once a year.

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Singaporean street artist, Samantha Lo (‘SKLo’ or ‘Sticker Lady’), has been arrested under counts of vandalism. The 25-year-old has been known to paste stickers and spray paint words on public spaces in and around the city. Singapore, also known as the ‘Fine City’, imposes strict monetary penalties in order to keep the city clean. In a place where even chewing gum is an offence, Lo’s intentional breach of the law is a serious crime and could land her three years’ imprisonment or a S$2000 (approx. USD1553) fine.

Some of the humorous stickers bring about the essence of the country with most of the round black-and-white stickers carrying captions in Singlish, an English based creole spoken in Singapore. Some of the stickers pasted on pedestrian buttons at traffic lights bear phrases like “Press once can already”, “Anyhow press police catch” and “Press until shiok” (Translation: “Press until you’re satisfied”).

Other such stickers have been a source of amusement and laughter for Singaporeans and tourists alike. Nothing quite perks up your day in a busy city like a button that says, “Press to teleport” or “Press to time travel.” These feelings however are not shared by the Land Transport Authority of Singapore who made a report against Lo, prompting an investigation by Central Police Division and the Police Intelligence Department.

Despite the law enforcers’ outrage over her actions, many have stood up for Lo by speaking out on Twitter and other social media. The Twitter hashtag ‘#freesklo’ and ‘#freestickerlady’ have shown hundreds of Singaporeans standing up for the street artist.

Evan Tiang tweeted, “Doesn’t make sense to take away someone who reminds me how much I love Singapore.”

“Dear Singapore, if you so much so as to care for our local culture, stand up please for #freestickerlady,” added Pat Law.

A large part of the outrage rises from the fact that even though the government has been providing funds largely promoting creative expressions, they suppress it when it happens. This is seen as an act of hypocrisy on their side. Others have also compared Lo to Banksy, an English based graffiti artist and political activist famous for his satirical street art.

Online petitions for Lo’s release have also been set up by her well-wishers. Lo’s personal blog, showcasing her designs, has been taken down but her collective work has re-surfaced on a Facebook page set up by her fans.

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Cruelty Free International has announced the support of singer-songwriter Joss Stone for its mission to end product testing on animals worldwide.

More than 80% of the world still allows animals to be used in cruel experiments for the sake of beauty. Despite progress with some countries and companies, animals, including rabbits, guinea pigs, mice and rats are routinely injected, gassed, force-fed and killed for cosmetics testing. In a global market it is important that all countries ban the practice to avoid testing simply moving around the world to those countries with no effective laws.

Joss is raising awareness across the world about the continued cruel use of animals to test everyday beauty products and toiletries. She said: “Thousands of animals continue to die each year for lipstick, toothpaste, fragrance and other products, so it’s crucial that we campaign for a global ban. Cruelty Free International has taken on this challenge and I am pleased to support them, and I urge you all to do the same.”

“I’m proud to support Cruelty Free International. At last someone has stepped up to the plate to take on the task of ending cosmetics tests on animals around the world.” Joss Stone commented on his new role.

Cruelty Free International, the new global non-profit organization, was established in March by the BUAV, one of the world’s longest standing and most respected animal protection organizations. Cruelty Free International will place the issue of animal testing on the agenda of many governments for the very first time as part of a global strategy to tackle product testing. With offices in London, Boston and Singapore, it will work with governments, regulators, companies and partner organizations worldwide.

“We are thrilled to have Joss Stone on board and are grateful for her support in helping us with our mission for a global ban on the use of animals to test cosmetics.” Cruelty Free International Chief Executive, Michelle Thew, stated.

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Bloomberg philanthropies will commit an additional $220 million to fight tobacco use around the world and stem this growing global public health crisis bringing Bloomberg’s total commitment to more than $600 million. The announcement was made at the 15th World Conference on Tobacco or Health in Singapore.

Building on six years of substantial progress, Bloomberg Philanthropies’ four-year commitment will fund efforts to reduce the toll of tobacco in low- and middle-income countries, home to almost 80% of the world’s smokers.

“Tobacco kills every day, we need to keep the fight moving forward and keep the momentum going,” said Michael R. Bloomberg. “In low- and middle-income countries alone, an additional 1.2 billion people are now covered by at least one of six proven tobacco control policies – more than doubling the number of people protected in just five years. When these measures are implemented, the results are clear: fewer people use tobacco and they live longer, healthier lives.”

Through 2011, a total of 2.2 billion people worldwide are covered by at least one effective tobacco control policy – representing about one-third of the world’s population. Completely smoke-free laws – for public spaces — are in effect in 38 countries, protecting one billion people.

The Bloomberg Initiative to Reduce Tobacco Use is the world’s largest coordinated effort to reduce the harm caused by tobacco globally. The Initiative supports the efforts of governments and non-governmental organizations to increase tobacco taxes, educate media and citizens on the negative impacts of tobacco, protect nonsmokers from exposure to other people’s smoke and help people quit.

“The Bloomberg Initiative, and support from Bloomberg Philanthropies, has transformed the effort to drastically reduce the number of people harmed by tobacco. It is making a difference and saving lives in ways not before possible,” said Matthew L. Myers, Campaign for Tobacco-Free Kids President. “Their long-standing commitment to fighting big tobacco in places where citizens are most vulnerable has made Bloomberg Philanthropies a powerful global force in taking on this daunting challenge.”

Eighteen countries including Brazil, Turkey and Pakistan with almost 750 million citizens have passed 100% smoke-free laws. Several of the world’s largest cities have also gone smoke-free, including Mexico City, Jakarta, and China’s Harbin City which passed that nation’s strongest tobacco control law to date.

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A recent controversy has erupted over plans to transform one of Singapore’s historic cemeteries, Bukit Brown cemetery, into a residential district. The plans begin with construction of a new dual four-lane road through the site, announced by Land Transport Authority (LTA) Singapore on September 12^th 2011.

The announcement was met with a wave of protests from conservationists and cultural heritage advocates, who believe that the decision would lead to an irrevocable loss of historic value and natural wildlife.

Located in the North-East of Singapore, the Bukit Brown cemetery is one of few remaining lush green vegetation areas in the country. Affectionately known to the local community as Coffee Hill, Bukit Brown cemetery (“bukit” meaning hill in Malay) was a Chinese public cemetery established in the early 20^th century, named after its former owner George Henry Brown who arrived in Singapore in the 1840s.

After acquiring the site in 1919, municipals opened a cemetery for local Chinese communities. Cultural heritage is a topic close to many hearts. In land-scarce Singapore, which has embraced a relentless drive to develop and modernise, little has stood in the way of development.

Prioritising land use for infrastructure development has meant that many historical landmarks, such as the colonial-styled National Library, have been demolished. Singapore’s hard-nosed decisions to implement urban and economic imperatives over preservationist impulses have always been a thorny issue with locals, who feel that it is eroding the country’s identity.

According to Wall Street Journal Southeast Asia, Singapore Heritage Society spokesman Terence Chong said, “Bukit Brown serves as a potent reminder that our nation arose not only on the backs of the rich, but on the faceless ghosts of our collective familial past, thus enriching the tapestry of the Singapore story.”

A resting place for many prominent early migrants, the cemetery resonates with much of Singapore’s early history. Lee Hoon Leong, grandfather of Singapore’s first prime minister and founding father, Lee Kuan Yew, was among those interred at the cemetery. In an attempt to assuage public outcries, LTA has reiterated that the road will only affect 5% of the 100, 000 graves in the 0.86km² cemetery.

This is not the first time that the Bukit Brown cemetery has faced threats of being cleared for redevelopment. In the 1970s, the site was granted reprieve. Now, however, its fate has been sealed: Singapore authorities have confirmed that the development of the future estate in Bukit Brown will take place in 30 to 40 years’ time.

In the interim, the dual road will be constructed to ease traffic during peak periods. Traffic along one of the adjacent roads to Bukit Brown is predicted to increase between 20% to 30% by 2020. Currently, peak periods see 6,000 to 7, 000 vehicles travelling on these roads.

What was surprising, noted Urban Redevelopment Authority (URA) Singapore deputy director, Zulkiflee Mohd Zaki, was that no one came forward to object the Bukit Brown Concept Plans and Master Plans for redevelopment that were displayed for feedback in 2001 and 2008 respectively, reported the Straits Times.

The furore only begun after LTA confirmed that construction plans for the new road will begin in 2013. As Singapore’s population continues to expand rapidly due to a growing number of expatriates and foreigners relocating to the country, the government’s decisions toward prioritising land use will come under greater scrutiny.

The dilemma remains: to fulfil short term practical needs or to cultivate a long term sense of belonging for a country with little historic sentiment?

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With the recent attacks being leveled on teachers around the United States, it may be of interest to compare how American teachers stack up against teachers in other countries.  If the U.S. wants to remain a superpower, it seems essential that the education system is comparable to other countries.  The Organization for Economic Cooperation and Development (O.E.C.D.) report from 2009 may be the best data to compare teachers globally.

American teachers work longer hours than those in other countries.  Educators in the United States spend on average 1,080 hours teaching each year. Across the O.E.C.D., the average is 794 hours on primary education, 709 hours on lower secondary education, and 653 hours on upper secondary education general programs.

It is difficult to compare salaries globally.  Cost of living is widely different between regions of countries much less between continents.  Not to mention, higher education costs much less in many other countries so educators are not faced with the crippling debt that many in America deal with.  But, generally the salaries of teachers in America appear to be above the global average.  The average public primary-school teacher who has worked 15 years and has received the minimum amount of training, for example, earns $43,633, compared to the O.E.C.D. average of $39,007.  However, a more accurate comparison can be seen if you compare teachers’ salaries to the amount of wealth that a country has.  In that regard, America is lagging behind.  In the United States, a teacher with 15 years of experience makes a salary that is 96 percent of the country’s gross domestic product per capita. Across the O.E.C.D., a teacher of equivalent experience makes 117 percent of G.D.P. per capita. At the high end of the scale, in Korea, the average teacher at this level makes a full 221 percent of the country’s G.D.P. per capita.  This is perhaps the most startling statistic and the meaning behind it cannot be ignored.  America does not put a priority on educating the youth.

The Program for International Student Assessment, a group that compares schools around the world, has a message for America– Train teachers better and pay them more.  Top-scoring countries like Korea, Singapore and Finland recruit only high-performing college graduates for teaching positions, mentor them and take steps to raise respect for the profession, said Andreas Schleicher, who oversees PISA.  “Teaching in the U.S. is unfortunately no longer a high-status occupation,” Schleicher wrote in a PISA report.  “Despite the characterization of some that teaching is an easy job, with short hours and summers off, the fact is that successful, dedicated teachers in the U.S. work long hours for little pay and, in many cases, insufficient support from their leadership.”

On the most recent PISA reports, Finland and Singapore were tops in science, Korea and Finland in reading and Singapore and Korea in math. American students are ranked 15th in reading, 19th in science and 27th in math.   Schleicher also said that America may spend a lot on education; they just aren’t spending it on the necessary areas.   He noted that Americans spend much more in other areas, such as busing and sports facilities.  “You can spend a lot of money on education, but if you don’t spend it wisely, on improving the quality of instruction, you won’t get higher student outcomes,” Schleicher told The New York Times.

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