wynn expanding students to receive prosecutors in vegas textbook subsidy Wynn Resorts is building a Around 33,000 university charge five lake resort behind its two Las students will benefit from builders in Vegas casinos, creating a a MOP3,000 textbook earthquake place for water-skiing subsidy deaths P4 P6 P11 TAIWAN

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“ THE TIMES THEY ARE A-CHANGIN’ ” WORLD BRIEFS Kenyan won Macau BLOOMBERG

CHINA Internet giants are providing a haven for bond Marathon while investors fleeing mounting default risks among the nation’s state-owned enterprises. Investors are P3,18 snapping up bonds from banned for doping Alibaba Group, Baidu and Tencent, a bright spot in an economy growing at the slowest pace in a quarter- century. The rising demand also reflects a broader shift in China’s economy away from smokestack industries toward private- sector services such as e-commerce, online finance and entertainment. AP PHOTO

JAPAN Searchers yesterday found one of the six crew members from a Japanese military jet that disappeared a day earlier while flying over southern mountains. The Defense Ministry said rescue workers are still searching for the jet and the five other crew members. Only parts of equipment belonging to the jet and the airman, who was in a state of heart failure, were found in the mountains north of the Air Self-Defense Force’s Kanoya base in southern Japan. AP PHOTO

VIETNAM’s rubber-stamp parliament elects Nguyen Xuan Phuc as prime Panama Papers name minister. He takes office at a time of soaring public debt, a worrying budget deficit and China’s growing prominent China assertiveness in nearby seas. political families P10,11 More on backpage INSIDE 08.04.2016 fri

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Gov’t revokes three HE International Police Association T(IPA) China-Macau Conference ends land concessions today. Diplomats in attendance at the fo- Global security conference rum include the Ambassador of Senegal in China, General Abdoulaye Fall, and the Consul-General of the Russian Federation draws to a close in Hong Kong, Valentin Markov. Police forces from 66 countries are also attending. tion equipment is also taking place at the The forum discussed terrorism, VIP same time as the conference. Ten securi- protection, and security work for key go- ty equipment companies from mainland vernmental departments, historical sites China and Macau showcased products at and tourist attractions, as well as anti- the conference, including golden glass, terrorism in local communities and rela- video surveillance and run-flat based The government has revoked three tionships with hotel security. components, among others. land concessions that were highlighted Several participants expressed similar Founded on 1950, the IPA is the world’s in a Commission Against Corruption views during their speeches that poli- largest organization of police officers. The (CCAC) report in December. Two of the Macau branch was established in 2011 and three idle land plots were granted to ce forces from around the world should public bus operator Transmac in 1988 work together to take on crime. includes members from across the SAR’s The president of IPA Macau, Lei Hong Po for the construction of bus terminals An exhibition of global security preven- security forces. Staff reporter and maintenance facilities, but have remained undeveloped. Transmac’s deputy general manager, Kwan Weng Officials highlight investment opportunities in Vietnam Kai, told TDM, “We had applied for a street alignment plan from the seminar on investment country’s numerous advantages loping its operating environ- cial services. government as soon as we had the Aopportunities in Vietnam for Chinese investors, such as its ment and relevant policies, as Nguyen added that Hong development project. But then we was held in Hong Kong this geographical proximity and cul- well as constructing a legal fra- Kong is the second-largest in- received a response […] saying [the week. tural similarities. mework that aligns with inter- vestor of the 18 countries and government] could only issue the plan The Vietnamese Consul-Ge- Dang added that Vietnam’s national investment criteria. territories that have business to us after they had completed the urban neral to Hong Kong and Ma- engagement in regional free Nguyen Van Thanh, vice interests in Quang Ninh. The planning. That’s why we still haven’t cau, Hoang Chi Trung, said trade agreements (FTAs) and chairman of the People’s Com- SAR currently runs 13 invest- received the street alignment plan.” It that Hanoi welcomes large integration in the global eco- mittee in Quang Ninh pro- ment projects in Vietnam, is not clear what will happen to the 300 companies in China, Hong nomy had created vast invest- vince on the northern border, with a registered capital sum or so buses that are regularly parked on Kong and Macau to explore ment opportunities for foreign discussed the construction of USD989 million. the undeveloped land. Transmac has Vietnam’s investment climate. businesses, especially those and administrative procedures The Vietnamese and main- sought advice from the Transport Bureau but has received no reply. The third plot The Vietnamese Ambassador from Hong Kong. of the Van Don Special Econo- land Chinese governments was granted to an investment company to China, Dang Minh Kho, spoke A VietnamPlus report said mic Zone. Nguyen emphasized have established numerous backed by the Zhuhai municipal about the Vietnamese economy the country – a member of that the government is priori- cooperation mechanisms in ho- government in 2001. and its policies to attract in- the Trans-Pacific Partnership tizing sectors such as tourism, pes of creating business oppor- vestment. Dang highlighted the (TPP) Agreement – is deve- services, processing and finan- tunities for both countries. Former Liaison Office department Advisory Council urges IACM to head falls to his death in Zhuhai repair rental bicycles in Taipa ENTAL bicycles available at the Lei- has been creating difficulties for residen- A former department head of the Liaison Rsure Area of the Taipa Waterfront ts when they go to use the bikes. “Renters Office in the MSAR died on Monday in (Cycle Track) remain in disrepair due to feel peeved, with many of them taking Zhuhai after falling from the top of a lack of maintenance. The Advisory Coun- punt on using the conveyances, only to encouraged IACM to refer this problem building, sources told the Times. The cil of Community Services recently urged later find disappointment during their to the department in charge of mainte- victim was not named but, according to urged the Civil and Municipal Affairs Bu- leisure time,” said Lam. nance and repair services. sources, was 65 years old and in the early With the three construction stages now stages of retirement, having left Macau for reau (IACM) to ensure that the bicycles According to Lam, the areas reserved completed, the Taipa Waterfront Cy- Beijing last year after serving in Macau for are returned to working order, as repor- for walking and cycling attract numerous a decade. The cause of death has not been ted by Macao Daily News. residents who enjoy spending their holi- cle Track area has been extended as far disclosed. Customers often find the bikes have days and weekends in these places. The as the end of the Macau-Taipa bridge. loose pedals and brakes, or flat tires. Lam council member said that “even though The bike rental program began in 2013 Vai Hong, a member of the aforementio- some won’t bring their own bikes, they following the conclusion of the first cons- Cuisine Association ned council, remarked that this situation will still choose to rent them.” He then truction stage of the cycle track. launches food show

The Macau Cuisine Association (MCA) is expected to hold a live cooking CE meets regional director of World Health Organization show today at Broadway Macau for its official inauguration, Macao Daily HIEF Executive Chui Sai According to a statement, the outbreaks of a disease. the prevention and control of On met with the World government will follow WHO On Tuesday, the WHO ex- infectious diseases. News reported. One hundred local C cooks will present 118 dishes from Health Organization’s (WHO) guidelines to minimize the risk perts also met medical profes- The WHO team studied the Chinese, Western and Japanese cuisines. Regional Director for the Wes- of diseases spreading to and sionals from the Health Bu- proposed infectious disease The MCA has also invited a chef to tern Pacific, Dr Shin Young- throughout Macau, which will reau, Kiang Wu Hospital and unit, a building near Conde S. demonstrate the making of hand-pulled soo, on Tuesday to review the enhance the city’s capabilities University Hospital (Macau Januário Hospital. They che- noodles and durian ice cream. MCA latest developments in the lo- to deal with future viruses. University of Science and Te- cked planned disinfection fa- president Ip Sio Man said the association cal healthcare system. The WHO regional director chnology) to exchange views cilities for the filtering of emis- aims to improve the overall quality of While local authorities pled- said it was necessary to plan on the prevention of infectious sions and waste, as well as the the local catering industry, as well as ged to improve the local health- disease prevention and con- diseases and related issues. design of its isolation wards. promote Macau’s diverse food culture. care infrastructure, Shin stated trol facilities to cope with the A four-member WHO team The WHO has supported the Five hundred of the MCA’s members are that the city’s existing facilities spread of diseases, no matter had previously visited the city development of Macau’s heal- from the catering industry, half of whom for disease prevention and con- how expensive, in order to deal between March 23 and 25 to thcare for the past 16 years since are budding cooks. trol met with WHO standards. with unexpected mutations or evaluate Macau’s facilities for the establishment of the SAR.

www.macaudailytimes.com.mo DIRECTOR AND EDITOR-IN-CHIEF_Paulo Coutinho [email protected] A MACAU TIMES PUBLICATIONS LTD PUBLICATION MANAGING EDITOR_Paulo Barbosa [email protected] MDT’s Website has logged over CONTRIBUTING EDITORS_Eric Sautedé, Leanda Lee, Severo Portela ADMINISTRATOR AND CHIEF EXECUTIVE OFFICER Kowie Geldenhuys [email protected] 120 million page views DESIGN EDITOR_João Jorge Magalhães [email protected] | NEWSROOM AND CONTRIBUTORS_ SECRETARY Juliana Cheang [email protected] since January 1st, 2012 up to today. Albano Martins, Annabel Jackson, Daniel Beitler, Emilie Tran, Grace Yu, Irene Sam, Jacky I.F. Cheong, Jenny Lao-Phillips, ADDRESS Av. da Praia Grande, 599, Edif. Comercial Rodrigues, 12 Floor C, João Palla Martins, Joseph Cheung, Juliet Risdon, Renato Marques, Richard Whitfield, Robert Carroll (Hong Kong MACAU SAR Telephones: +853 287 160 81/2 Fax: +853 287 160 84 correspondent), Rodrigo de Matos (cartoonist), Ruan Du Toit Bester, Sandra Norte (designer), Viviana Seguí | ASSOCIATE Advertisement [email protected] Thank You! CONTRIBUTORS_JML Property, MacauHR, MdME Lawyers, PokerStars | NEWS AGENCIES_ Associated Press, Bloomberg, For subscription and general issues: Lusa News Agency, MacauHub, MacauNews, Xinhua | SECRETARY_Yang Dongxiao [email protected] [email protected] | Printed at Welfare Printing Ltd Like us? facebook.com/mdtimes send newsworthy information and press releases to: [email protected] website: www.macaudailytimes.com.mo fri 08.04.2016

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Global security conference Surge in fines Kenyan runner won Macau for unlicensed draws to a close ownership of Marathon while banned for doping endangered species Renato Marques Paulo Barbosa LOMENA Chepchirchir, a new government proposal may in- F35-year-old athlete from Kenya, A crease the fine imposed on people won the 2014 Macau International caught holding endangered fauna and flo- Marathon while she was banned for ra without a license. The Executive Cou- doping. ncil has analyzed a proposal to increase On December 7, 2014, Chepchirchir the current fine – which now goes up to ran the 42.195 kilometers in 2:33:24, MOP5,000 – to between MOP200,000 beating Kenyan teammate Hellen and MOP500,000. Wanjiku Mugo. China’s Gong Li Hua Flomena Chepchirchir crosses the finish line in Macau “If the fine amounts are not adjusted, the took bronze in 2:33:41, and Hoi Long strength of the law will not be sufficient. from Macau ranked 10th. sanctioned by Athletics Kenya (AK). Often the illegal activities happen in ju- The long-distance Kenyan female Reports at the time of the ban noted Banned athletes risdictions with reduced fines,” explained runner was revealed to have been un- the case of Chepchirchir as “a likely Executive Council spokesperson Leong der a ban issued by the International case of unknowingly using a contami- from Kenya have Heng Teng. Association of Athletics Federations nated supplement.” continued to The Executive Council yesterday deba- (IAAF) after a positive test was regis- A recent Associated Press report hi- ted a bill that will apply an international tered at the Birell Prague Grand Prix ghlighted several similar cases whe- compete and even convention on the trade of endangered Marathon in the Czech Republic on re banned athletes from Kenya have wild fauna and flora to Macau. September 6, 2014. continued to compete and even win win marathons Under the proposal, the Macau Econo- According to IAAF News Issue 159, marathons despite the ban. mic Services (DSE) will grant licenses to the athlete was banned from compe- The report features the recent case “Many of these athletes [...] are cau- certify the ownership and trade of appro- tition for six months between Sep- of athlete Bernard Mwendia Mutho- ght in Mexico; some are in China, ved fauna and flora. tember 6, 2014 and March 3, 2015. ni, who finished sixth in the Melaka especially in Macau. Those are areas The regulations forbid the embalming of The female marathoner reached her River International Marathon in Ma- that are difficult to control.” those species, unless the owner can provi- career peak in October 2013 when she laysia last December, despite serving This incident could tarnish the image de evidence that the acquisition was made ran Frankfurt’s Marathon in 2.23.00 a two-year ban for using a nandrolo- of the local athletics competition for a before the law was passed. The rules arou- and was one of a list of eight Kenyan ne byproduct. second time. A course mistake in 2012 nd trade in endangered species have also runners that tested positive at the same AK CEO Isaac Mwangi, cited by the resulted in athletes running three ex- been tightened. event in Czech Republic, having been AP from a previous interview, said, tra kilometers. [More on page 18]

ad 08.04.2016 fri

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Christopher Palmeri

YNN Resorts Ltd. is Wbuilding a lake resort Wynn Resorts to offer water- behind its two Las Vegas ca- sinos, creating a place for water-skiing and paddle- skiing at new Las Vegas attraction boarding just off the desert city’s famous Strip. The Las Vegas-based com- the company’s chairman and tion by 2017, the company pany will convert its Tom chief executive officer. said. Fazio-designed Wynn Golf “This is the most fun project The roughly $2 billion Bos- BLOOMBERG Club into the resort, which in my 45 years,” Wynn told ton-area resort could genera- will feature a lake and a mile- investors. “Somebody take te as much as $400 million long boardwalk, founder Ste- ve Wynn said Wednesday [US time] in a presentation Wynn to investors in Las Vegas. The resort, which is tenta- This is the most Palace is now tively called Paradise Park, will offer ice cream and a fi- fun project in scheduled reworks show every night. “Just like Disney,” said my 45 years. to open in Wynn, who’s still working on STEVE WYNN late July or the details and plans to seek approval from his company’s August board in September. the other side, tell me what’s The proposed project is wrong with this idea? We’ve the first major construction all drunk the Kool-Aid.” in Ebitda, according to a sli- Wynn has undertaken in his Wynn also used the event, Wynn Palace Macau de presentation that accom- home city since Encore Las the company’s first-ever in- panied the event. Vegas opened there in 2008. vestor day, to reveal details The Macau resort, now banana in a mock New York Wynn rose 4.4 percent to The new resort, which will of its Wynn Palace casino scheduled to open in late skyline, Wynn said. The $4.1 $93.52 in extended trading. feature 1,000 hotel rooms and under construction in Macau July or August, will feature billion resort could earn as The stock fell 1.5 percent to 250,000 square feet of mee- and another property under entertainment in its restau- much as $850 million in ear- $89.55 at the close in New ting space, could cost as much way in the Boston suburb of rants, including an anima- nings before interest, taxes, York and has gained 29 per- as USD1.6 billion, said Wynn, Everett, Massachusetts. tronic King Kong grabbing a depreciation and amortiza- cent this year. Bloomberg

was known as “Jinghai” everyday, [which] is but a (“Mirror Sea”). The name mirror image of what we ‘Sea of Mirrors’ being filmed in Macau resonated with director think of ourselves.” Thomas Lin as it reflec- The film is expected to HE film “Sea of Mir- young daughter to meet a According to a statement ted the theme of the story premiere in the second Trors,” which has the rich investor who claims from Island Man Pictu- in “how we perceive the half of 2017 or in early particularity of being shot to be her fan, and is in- res, the Singaporean- people we interact with 2018. DB entirely on an iPhone 6S, terested in investing in based movie company is expected to commence a movie with the former behind the psychological filming in Macau tomor- star as the lead. thriller, the film will be benson: 1st time working with row. The film is written, She turns down the of- shot entirely on an iPho- director lin produced and directed fer however once she rea- ne 6S as the director and by Singaporean-Chinese lizes the investor’s true producers believe this AT THE launch of her new journey. “I haven’t worked director Thomas Lim. It motivation is to coerce “would first and foremost Macau lifestyle magazine, with Thomas Lin before,” will star a cast of Macau, her into sexual relations, suit the visual texture of actress Victoria Sally Ben- she told the Times, “but we Hong Kong, Japanese, and her daughter is ki- the story.” son told the Times that she have been friends for about Korean and Australian dnapped in response, The film went without is looking forward to the six or seven years. I took the actors. resulting in a helpless a title for many months filming of “Sea of Mirrors”, opportunity [because] it’s a The shooting will take and desperate attempt to during the writing pro- which begins tomorrow. good script and I would be place entirely in Macau find the child before her cess, until cinematogra- The Australian-born ac- working with a good team.” Thomas Lim tress will portray “Isabel,” “As anyone will tell you, and is expected to conti- growing obsession with pher Sam Voutas disco- a flamboyant American nothing gets done in film- nue throughout most of former Japanese actress, the casino lights in the vered that before the Por- actress whom the protago- making without a good April. Riri Kondo, who travels city pushes Riri to the tuguese settlement in the nist encounters during her team,” she added. It tells the story of a to the MSAR with her brink of madness. mid-16th century, Macau ad fri 08.04.2016

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New lifestyle magazine to reveal lesser-known side of city

Daniel Beitler “People only know Macau as a gaming city, but that’s not ORE than 100 only what it is. I’m not saying people attended that we have the best enter- last night’s lau- tainment yet, but there are nch of online li- things that are worth coming Mfestyle publication “Live and Love Macau” at the Heart Bar in Ascott Macau. The co-founders of the lo- cal lifestyle magazine, Mos- In the 1990s, cow-born Katya Maia and no one would Australian-born actress Sally Victoria Benson, told the Ti- come from mes that they want to promo- te Macau as more than just a Hong Kong to gaming city. The magazine aims to showcase the best of Macau – there what the city has to offer in was no reason terms of culture and herita- ge. to. Now people “It will be explicitly non-ga- ming,” stated Maia, who se- will. ttled in Macau in 2010 and is also the co-founder of what SALLY VICTORIA BENSON claims to be the MSAR’s first whole food kitchen, ‘Greens Sally Victoria Benson (right), co-founder of “Live and Love Macau” to Macau for,” added Benson. Kitchen & Juicery’. “Because Maia agreed that there are that is not our focus. We are co-founder Sally Benson. feature that showcases lo- for people traveling to Hong areas of tourism promotion focused on [local] lifestyle “Our general purpose is to cal Macau fashion, dubbed Kong – always has been, that could be improved. […] and promoting it prima- have a central resource that “Streetstyle”. The segment, always will be,” said Katya “The biggest change we can rily to non-Chinese, English is easily accessible to people which began on Instagram, Maia. focus on is an improvement -speaking people who live in in Macau and [contains in- has evolved into a “Sunday However, while it might now in quality of service, [which] East Asia, such as in Shan- formation] that isn’t in gui- Streetstyle Feature” with be a convenient stop-over for can act as a great base for ghai or Beijing.” debooks and [other] websi- submissions from both locals visitors to Hong Kong, it has tourism and lifestyle offerin- Maia explained that the tes.” and tourists, as well as an in- not always been so popular gs,” she said. “In my personal project has a dual purpose: “We also want to feature terview column. with Hong Kong residents, experience, I always tip taxi the promotion of lifestyle people who are doing good The government, eager to said Benson, who grew up in drivers who speak English to and related issues in the city, things [here in Macau], like encourage the promotion of the MSAR in the 1990s. me.” and serving as a “go-to desti- setting up a business – but non-gaming tourism in the “You have to remember that Maia also agreed that in- nation for all things [related always with a call to action MSAR, has backed the pro- in the 1990s, no one wou- frastructure initiatives such to] Macau.” to the outside,” the Austra- ject under the Young Entre- ld come from Hong Kong to as the airport expansion, the “We are trying to promote lian-born actress, model and preneurship Scheme, and Macau – there was no reason Hong Kong-Zhuhai-Macau tourism to English-speaking producer told the Times. has approved its status as a to. Now people will […] and Bridge and the new harbor people, but also to act as a One such example in the commercial project. a weekend in Macau is not could help to drive tourism central hub for locals,” said online magazine is a weekly “Macau is a great stop-over cheap anymore!” in Macau.

MGM holds responsible ONE SHOT NEWS gaming ceremony

“The gaming industry should be com- mitted to educating its employees as well as the public about responsible play,” said Alan Feldman. “All of us in the industry should learn from one another about how Alan Feldman responsible gaming programs are impac- ting our guests, and what works the best HE 2nd Board Inauguration Cere- in sharing that information with them Tmony of the Macau Gaming Manage- and our employees.” ment Association (MGMA) was held yes- “This isn’t just about any one company; terday, where Alan Feldman, chairman this is about the entire industry, whether of the National Center for Responsible it’s in Macau, Singapore, United States or Gaming and executive vice president of Canada. We all have a shared interest and MGM Resorts International Global Af- shared responsibility,” he added. fairs, delivered the keynote speech. Davis Fong, President of MGMA, com- The ceremony, sponsored by MGM, plemented the remarks, adding: “We will concluded training sessions for the ope- continue to bring worldwide expertise, rator’s employees that took place earlier like Mr Feldman himself, into the com- in the day. The initiative falls under the munity of Macau to promote public awa- umbrella of MGM’s Responsible Gaming reness of responsible gaming, as well as Program, established since the opening to contribute to the sustainable develop- of MGM Macau. ment of the industry.” DB The “Fuel Farm Exercise 2016” was carried out yesterday at the Macau International Airport 08.04.2016 fri

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Paulo Barbosa EXCO

ROUND 33,000 university students will benefit from a MOP3,000 textbook 33,000 students to subsidy,A Executive Council spokesman Leong Heng Teng revealed yesterday. The pu- receive textbook subsidy blic administration expects to spend MOP99 million on this subsidy scheme, which is va- bility, which are the same as fer academic titles or are not the end of May to apply. Each subsidy will be paid in lid for the 2015/2016 school in the previous school year. less than two years long. The The Tertiary Education Ser- a single installment through year. Students can apply for the scheme applies to both local vices Office (GAES) will as- a bank transfer or voucher, At a press conference yes- scheme if they are local re- and overseas universities, but sess the applicants and coor- which will be issued by the terday, Leong Heng Teng ex- sidents undertaking higher the latter must be recognized dinate the distribution of Financial Services Bureau plained the criteria for eligi- education programs that con- in Macau. Students have until subsidies. (DSF). UM holds first Sports Day

men and half for women. The Secretary for Social Af- fairs and Culture, Alexis Tam, officiated the opening cere- mony and served as a judge for the cheerleading competition. Other officiating guests in- cluded various members of the UM, such as Rector Wei Sprint race Zhao, and the Office of the Secretary for Social Affairs Wei added that all participan- work. It increased my sense of Cheerleading contest and Culture. ts in the UM Sports Day would belonging,” said Lantz, a staff “Today is a historic day becau- set the first athletic records in member from the Chao Kuang HE University of Macau In an official statement, the se it is the first time that UM UM’s history. Piu College, who triumphed T(UM) held its first Sports UM said more than 600 parti- has held its Sports Day in the “I’m very happy to have the in the 1500-metre race in the Day on Wednesday in the UM cipants competed in 48 events new campus,” said Rector Wei opportunity to participate in category for male staff, group stadium. across 10 categories, half for Zhao in his opening speech. a sports competition where I A. DB ad fri 08.04.2016

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8 BUSINESS 分析

REAL ESTATE MATTERS The best places to live in Macau Part 1

Juliet Risdon is a Director of JML Property and a property investor. Having established the company in 1994, JML Property offers Investment Property & Homes. It specializes in managing properties for owners and investors, and providing attractive and comfortable homes for tenants.

www.JMLProperty.com Juliet Risdon [email protected]

We are often asked by people Amenities: Good for walking to Building facilities: Swimming new to hunting for a home in the supermarket, banks, health Pool, Gardens. Car Parking Spa- Macau “Where is the best place care, on the main bus route with ces available. to live?”. Bus Stops right outside, schools Property Features: Spacious, The answer to this of course de- are easily accessible, as are local with good kitchen area. Light pends largely on your personal bars and restaurants. and airy spaces. Good layout, perspective and circumstances. Building facilities: Swim- balcony. There is no ‘one size fits all’ ming Pool, Cinema Room, Spa Rental Prices: Mid-Range answer to this question. Over the Room, large and well equipped Advantages: Quiet and peaceful next five articles we can share Gym, Games Room, BBQ Area, location close to the beach. with you the most popular places Children’s Play area, golf si- Drawbacks: The age and quality to live in Macau for expatriates. mulator and dance studio. of the apartments. Asking and answering some of Concierge. Car Parking Spaces the important questions below available. ONE CENTRAL, MACAU may help to narrow your focus Property Features: Dark hard Area: Central City Area before you start your property wood flooring and woodwork, Amenities: Near to Casino’s and search: some good views, small fitted high-end stores, hotels and their • What kind of area do I want to kitchens with built in ovens as facilities. live in? standard, reverse cycle air-con- Building facilities: Gym, pool • What do I need to be near to? ditioning. inside & out, rock climbing wall, • What facilities do I want in my Rental Prices: High End. multi purpose sports court, ten- building? Advantages: Great location. nis court, concierge and security. • What requirements do I have Drawbacks: Apartments on Monthly rental Car Parking avai- from my property? lower floors don’t receive much lable. • What is my budget? sunlight, limited balconies. Property Features: Light & bright Remember there will always be apartments, high-end modern pros and cons in any property HELLENE GARDENS, kitchens and bathrooms. Great and location, so its good to know COLOANE views from feature windows. Re- what is essential and what is de- Area: Hac Sa, near the beach, verse cycle air-conditioning. sirable to make it a good choice residential near the countryside Rental Prices: High End. for you. and walking trails. Advantages: Great location for As everybody has different opi- Amenities: Short walk to local access to the Macau side casinos. nions and needs, these are in no bar & restaurants, Bus Stop, Drawbacks: Transient communi- particular order: Public Swimming Pool & tennis ty, building quality issues. courts, trail walks and the beach. MANHATTAN, TAIPA Also Children’s parks, BBQ Area In next week’s article we look at Area: Taipa, edge of Old Taipa, on the beach and family orienta- 3 more of the most popular pro- residential. ted. perties for expatriates. fri 08.04.2016

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分析 BUSINESS 9

COMMODITIES London’s USD5 trillion gold hub getting ready for a major overhaul

HERE’S a competition hedgers like us,” said Brad Yates, brewing to figure out head of trading for Dallas-based how the world’s largest Elemetal LLC, one of the biggest BLOOMBERG gold-trading hub can get U.S. refiners. “Price discovery is Tbigger and better. far easier and spreads are much Much of the USD5 trillion in tighter when the bids and offers transactions cleared every year are on the screen in front of you.” in London is done by telephone Not everyone is convinced or in electronic chat rooms and much will change. Ronan are the same kind of one-on-o- Manly, an analyst at Bullion ne deals that gave birth to the Star Pte Ltd., a Singapore-based marketplace three centuries ago. dealer, said previous attempts to But traders and bankers say the overhaul the market yielded di- system may not provide enough sappointing results. transparency to satisfy regula- When the daily telephone tors or attract new business at conference call used to set the a time when more gold is being benchmark price for silver was bought and sold in New York replaced with a computerized and Shanghai. system, participation remained That’s why the main partici- low, Manly said. However, sub- pant group, the London Bullion sequent changes appear to have Market Association, is evalua- resolved those issues. The silver ting bids to create a trading last year that amounted to al- in Shanghai and expanded tra- Executive Officer Ruth Crowell benchmark is hosted by CME and reporting platform. At the most half of such transactions ding in New York. said in an interview in London. Group Inc. and Thomson Reu- same time, a different plan is globally, commodity researcher The LBMA’s plans to moder- “It’s a search for efficiencies and ters Corp. Bloomberg LP com- being developed by the World CPM Group estimates. And the nize over-the-counter trading market development that is dri- petes with Thomson Reuters in Gold Council, a mining indus- metal is seeing renewed popu- include the building of an online ving change.” selling financial and legal infor- try group that is working with larity with investors who have hub where trades between two All LBMA members would be mation and trading systems, and the London Metal Exchange added to holdings of the metal parties - without an interme- required to report transactions. posted a rival bid to host the sil- to come up with new futures after three straight years of los- diary exchange - can be posted If not, they will lose the benefit of ver pricing in 2014. contracts, said two people with ses. Prices rallied 16 percent this and stored in a database. This trading OTC gold without paying Still, veteran market partici- direct knowledge of the ventu- year through March, the biggest would allow for more in-dep- value-added tax, Crowell said. pants are hopeful that the city re. The proposals, if successful, quarterly gain in almost three th trade reporting, something A different tack is being taken will prevail as a well-established would alter the way gold is bou- decades. the LBMA says would allow for by the World Gold Council, an market in a time-zone over- ght and sold in the city. But gold, one of the world’s greater transparency, including organization funded by 18 mi- lapping New York and Shanghai. “It’s a pretty big moment for most-traded commodities and the publication of a forward pri- ning companies with the aim of “London is a very old gold London, and it’s time to choo- a reserve asset for most of the ce curve. promoting the metal. It’s in ex- market, but there is a lot of vi- se,” said Mark O’Byrne, a direc- world’s central banks, has come The association hopes its pro- ploratory talks with the LME and brancy and a lot of youth here,” tor in Dublin at brokerage Gold under greater scrutiny. Markets posal will affirm the size and- li a group of banks to offer futures said Ross Norman, who has Core Ltd. “Everybody wants to lacking the transparency of tradi- quidity of the market for gold, contracts for precious metals in spent more than 30 years in the bring more players to the table, tional exchanges are getting more which may help convince regu- London, two sources with direct industry and is now chief execu- but there is a risk that through attention from regulators after lators that the precious metal knowledge said in January. The tive officer of retail bullion dealer the failure to work together, li- banks were found to have cons- poses less risk for banks to hold banks include ICBC Standard Sharps Pixley, not far from Bu- quidity is diluted and the market pired to rig a global benchmark than assets trading in smaller, Bank Plc, Citigroup Inc., Morgan ckingham Palace. “The charac- weakened.” for interest rates during the fi- less-liquid markets. Stanley, Goldman Sachs Group ter of London has always been At stake is the largest market nancial crisis. At the same time, “Better transparency doesn’t Inc. and Societe Generale SA. a human, interpersonal market for spot and forward contracts, London’s dominance is being only help satisfy the requiremen- “An exchange-based, cleared based on trust, and I hope what with 4.62 billion ounces cleared challenged by other venues, with ts of the regulators, but also tho- market could have some imme- emerges can retain that essential among London market makers new pricing benchmarks for gold se of the market,” LBMA Chief diate benefit for producers and element.” Bloomberg

corporate bits ‘line walker’ films at studio city ctm receives recognition award fwd revenue surges in 2015

CTM was awarded the title of In 2015, CTM poured signi- FWD has announced a year- “The Best Telecommunication ficant investment into network on-year growth in revenue of Service and Brand” for the se- service enhancement and more than 30 percent for its cond year running in the “Macau customer service experience first quarter, following 27 per- Elite Service Award 2015,” orga- improvement. It won many sig- cent growth in 2015. nized by Exmoo News and TDM. nificant development projects The insurance company In a press release, the com- and became the first telecom recorded profit before tax of pany promised to continue operator to launch a 4G+ ser- HKD266 million. The increa- forging Macau into a digital vice with dual network modes. se was driven by a 50 percent city and said it would introduce “Macau Elite Service Award hike in agency sales that con- more diversified applications 2015” recognizes Macau’s tributed to half of the year’s and services to facilitate an service-related sectors, and premiums. unparalleled telecommunica- aims to encourage more en- FWD aims to maintain an A two-day film shoot wrapped re and its array of the latest tions experience for local re- terprises to implement quality annual growth rate of 25 per- up yesterday at Studio City for entertainment offerings. They sidents and various industries. customer service. cent. The company will increa- the highly-anticipated movie aimed to convey a sense of se its number of agents by 20 “Line Walker”, featuring celebri- “sparkle and newness” in the percent to 2,600 this year and ties such as Francis Ng, Louis movie, and filmed at land- hopes to reach 3,000 by 2018. transaction. Koo and Charmaine Sheh. marks such as Studio City’s FWD’s business has not The company said its key The producers believe that 130-meter-high figure-eight been impacted by UnionPay’s growth drivers are Hong the resort is the “best venue” Ferris wheel. new spending limit on over- Kong’s younger generation to film the upcoming movie, According to Ng, Macau is a seas insurance, which is now and pre-retirement middle- due to its cinematic atmosphe- “place of wonder”. capped at HKD39,000 per class residents. 08.04.2016 fri

th Anniversary

10 CHINA 中國

communist revolutionary Xi Zhongxun, he and his siblin- AP PHOTO gs enjoy privileged status as members of what is someti- mes called China's "red aris- tocracy," with unique access to circles of power and inside information that can be leve- raged for personal gain. China's censors have blo- cked, deleted or heavily edi- ted all reports about the ICIJ reports to prevent any men- tion of Xi, or the relatives of seven other current or former members of the party's all- powerful Politburo Standing Committee reported to have owned overseas tax havens. On Tuesday, Foreign Minis- try spokesman Hong Lei des- cribed the reports as "grou- ndless" and said he would refuse to comment on them further. Even that brief exchange was struck from the transcript of Tuesday's briefing posted on the ministry's website. Behind the party's habitual secrecy and reflexive desire to control, lies the recogni- tion that corruption remains a volatile issue. Anti-gra- ft sentiments were a driver ANALYSIS behind student-led pro-de- mocracy protests in 1989 and since then, more than a half- a-dozen serving or retired Xi seen as easily surviving members of the party's elite inner circle have been brou- ght down over corruption revelations in Panama Papers allegations However, the perception that all leading families are Christopher Bodeen Investigative Journalists, credit for cracking down on contend with. Along with its corrupt to some degree also known as the ICIJ, says Xi's high-level corruption," said muzzled press, China permi- acts as a form of "MAD [mu- OR graft-busting Chine- brother-in-law Deng Jiagui Georgia State University poli- ts its national legislature to tually assured destruction] Fse Communist Party lea- purchased one offshore com- tical scientist Andrew Wede- meet in full session just once deterrence," said Steve Tsang, der Xi Jinping, the Panama pany through Panama-based man, who has extensively re- a year and then only to deba- senior fellow at the University Papers revelations that show law firm Mossack Fonseca in searched corruption in China. te and approve proposals sent of Nottingham's China Policy his brother-in-law and relati- 2004 and two more in 2009. The investigation does them by the government. Institute. Criticism, if it co- ves of two other members of All three had been dissolved however provide new infor- Nor does China permit pu- mes, is more likely to emerge the party's elite inner circle or become dormant by the mation about how members blic protests of the type that from "outside the top echelon owned offshore companies, time Xi became party leader of the Chinese elite use inter- confronted Iceland's leader of the leadership in China," often referred to as tax ha- in 2012, the ICIJ says citing national law firms and shell Sigmundur David Gunnlau- Tsang said. vens, might have been highly a stash of 11.5 million leaked companies registered over- gsson before he stepped aside Chinese officials are also damaging. Mossack Fonseca documents seas in ways that could faci- Tuesday amid outrage over sheltered by public disclo- Instead, Xi will likely emer- — dubbed the Panama Papers litate the concealment and revelations he had used a sure rules that require only ge unscathed as a result of — that discuss cases involving protection of fortunes whose shell company to shelter lar- that they declare their assets his personal hold on politi- politicians, celebrities and provenance may be unknown. ge sums while Iceland's eco- internally. The public in most cal power, controls over free business people from around The other two current Po- nomy was in crisis. cases never knows what is in speech and the media, and a the world. litburo Standing Committee While the personal lives such declarations, nor how sense both among the public Analysts say the revelations members named in the ICIJ and finances of Chinese lea- carefully they are audited. and potential rivals that all shed little new light on the Xi report are Zhang Gaoli, who- ders are strictly off-limits to Calls for changes have fallen leading families are tainted to family's financial doings, fur- se son-in-law was named as Chinese media, internatio- on deaf ears or in some cases some degree, analysts say. ther limiting their impact. Xi's a shareholder of three com- nal outlets have frequently met with reprisals. With the latest reports still case is also helped by the fact panies incorporated in the sought to plumb the truth of Wealth among members of just days old, however, lin- that he has shown no fear in British Virgin Islands, and Liu perceptions that the country's the legislature, the National gering impacts can't be ruled taking on high-profile targets Yunshan, whose daughter- opaque politics and booming People's Congress, is even ea- out entirely. Damage to Xi's in his anti-corruption cam- in-law was the director and economic growth provide a sier to hide, one reason why reputation might show up in paign and has been seen in shareholder of a company in- rich environment for corrup- the body is known as the ri- unexpected difficulties in pu- past as reining in his family's corporated in the British Vir- tion. Previous reports, par- chest parliament in the world. tting in place a new team for illicit activities by having them gin Islands in 2009. ticularly one by Bloomberg Despite the political obsta- when he assumes a second fi- sell off their interests and by Having such accounts is not News in 2012, have not im- cles, some Chinese continue ve-year term as leader of the telling provincial leaders per- illegal, and no specific func- plicated Xi, his wife or their to complain about the pu- ruling Communist Party next sonally that they did not act in tions, asset amounts or alle- daughter and have had no blic's inability to supervise year and for setting in place his name, they say. gations of wrongdoing were discernable impact on his po- and push for greater transpa- a succession plan for 2022. "I would have suspected that made in any of the cases. Like litical fortunes. rency in their leaders' finan- Challenges to his leadership many of those who follow Xi, none have responded di- They do show, however, that cial dealings. of a bevy of offices and com- elite politics already believe rectly to the reports. Xi's extended family accumu- "If well implemented, asset mittees, or to his sweeping that Xi's extended family is While the leaked documents lated investments and stakes declaration should be a good anti-corruption campaign, like many — if not most — also revealed hidden dealings in companies worth millions way to fight corruption and might also be signs of weak- elite families in that some of by politicians in Western-sty- of dollars at a time when he ensure the integrity of public ness. them have managed to cash in le democracies, Xi is shielded was rising in the party and officials," the official news- The latest report by the In- on China's economic boom. I from the kinds of scrutiny his government. paper Ningbo Daily said in a ternational Consortium of think, however, he still gets Western counterparts must As the children of famed March 31 article. AP fri 08.04.2016

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中國 CHINA 11

HE Panama Papers docu- PANAMA PAPERS ment leak reported by the International Consortium of Investigative Journalists na- Tmes family members of eight present or past members of China's all-power- Leaks name prominent ful Politburo Standing Committee, including the brother-in-law of presi- dent and Communist Party leader Xi Jinping and a distant relative of the Communist political families founder of the communist state, Mao Zedong. The family members mentioned was the director and shareholder in LI PENG, FORMER PREMIER national Holdings Ltd. The company were listed as owners or shareholders a company called Ultra Time Invest- Li Xiaolin, a prominent figure in the was incorporated in the British Virgin in companies registered offshore that ments Ltd. incorporated with Mossa- state power sector and the only dau- Islands in 2003, 14 years after his fa- are sometimes known as tax shelters, ck Fonseca's help in the British Virgin ghter of former premier Li Peng, is ther's death. although no impropriety was implied. Islands in 2009. reported to have used the law firm to Liu at the time was head of party acquire Cofic Investments along with propaganda and a member of the Po- her husband. ICIJ said the company litburo, one rung below the Standing was incorporated in 1994 and cited AP PHOTO Committee. internal e-mails saying it was funded with commissions from the import European industrial equipment into China. Ownership was obscured by the use of bearer certificates that list no names. Li Xiaolin retired as CEO of China Power International Development The elder Hu was considered a lea- last year in what was seen by some as ding reformist and his political demo- XI JINPING, PRESIDENT AND part of Xi's moves to uproot leaders' tion and sudden passing in 1989 hel- COMMUNIST PARTY LEADER children from highly visible positions ped spark that year's massive student- The ICIJ reports state that Deng in the state sector. led pro-democracy protests centered Jiagui, the husband of President Xi on Beijing's Tiananmen Square. Jinping's older sister Qi Qiaoqiao, ZHANG GAOLI, POLITBURO used Panama-based law firm Mos- STANDING COMMITTEE MEMBER sack Fonseca to open one offshore A son-in-law of Zhang Gaoli, the se- company in 2004 and another two in venth and lowest-ranking member of 2009. the Politburo Standing Committee, ICIJ said it was unclear why Deng was listed as a shareholder in Zennon opened the firms, which were given Capital Management, Sino Reliance the fanciful names of Supreme Victory Networks Corp. and Glory Top Invest- Enterprises Ltd., Best Effect Enterpri- ments Ltd. All three companies were ses Ltd. and Wealth Ming Internatio- incorporated through Mossack Fonse- nal Ltd. All three companies had been ca in the British Virgin Islands, one of dissolved or become dormant by the the most popular offshore tax havens. ZENG QINGHONG, FORMER time Xi took over as party leader in The reports did not say when the in- VICE PRESIDENT MAO ZEDONG, PEOPLE'S 2012. corporations took place. Zhang's last Considered the consummate Chine- REPUBLIC OF CHINA FOUNDER formal positions prior to joining the se political insider, former vice presi- The reports say Chen Dongsheng, a Politburo Standing Committee had dent Zeng Qinghong was linked to a grandson-in-law of the founder of the been as the top official in the fast- company named China Cultural Ex- communist state Mao Zedong, incor- growing northern port city of Tianjin change Association Ltd. that was re- porated a company called Keen Best and in the eastern province of Shan- gistered by his brother Zeng Qinghuai International Ltd. in the British Vir- dong. in Samoa in 2006 using Mossack Fon- gin Islands in 2011, and was its sole seca's services. director and shareholder. Chen also Zeng Qinghong was still in office at heads a life insurance company and the time. an art auction house. Mao led the People's Republic of HU YAOBANG, FORMER China from its founding in 1949 un- COMMUNIST PARTY til his death in 1976. During most of LIU YUNSHAN, POLITBURO SECRETARY GENERAL that time, he waged unrelenting war STANDING COMMITTEE MEMBER Hu Dehua, a son of revered former on international capitalism and led The reports say the daughter-in-law secretary general Hu Yaobang was China into increasing isolation from of the Politburo Standing Committee's listed as shareholder, director and the international financial system and fifth-ranking member of Liu Yunshan beneficial owner of Fortalent Inter- global society in general. AP

TAIWAN Prosecutors charge five builders AP PHOTO in earthquake deaths

ROSECUTORS in developer, Lin Ming- expanded the 17-story only building to collap- PTaiwan are charging hui, along with three building's floor plan wi- se during the magni- five builders with ne- employees of his Wei- thout increasing rein- tutde-6.4 quake that gligence after an apart- guan construction com- forcements and used struck the southern city ment building collapsed pany and an outside inferior steel supports, of Tainan. Earthquakes during a February ear- consultant have been resulting in a structure frequently hit Taiwan thquake, killing 115 peo- charged with professio- with 44 percent less load- but usually cause little ple. nal negligence resulting bearing capacity than damage due to stringent The Tainan district in death. required. building regulations prosecutor's office said Investigators said in a The Weiguan Golden passed after a devasta- Emergency rescue teams search for victims in a collapsed building yesterday the building's statement that Weiguan Dragon tower was the ting 1999 quake. AP from an early morning earthquake in Tainan, Taiwan, on Feb. 6, 2016 08.04.2016 fri

th Anniversary

12 ASIA-PACIFIC 亞太版

Nick Perry, Christchurch NEW ZEALAND 180 million Australian dollars (USD138 million), showing LENN Martin was that investors are taking the sitting in a bar with concept of a commercial jet- his college buddies pack seriously. 35 years ago when A jetpack nears liftoff, Disillusioned with the direc- Gthey got to wondering: What tion the company was taking, ever happened to flying cars Martin resigned as a director and jetpacks? in June. He still owns a 10 per- The next day, the New but creator fears cent stake, which he cannot Zealander began looking for sell before February. answers in the science library, "I'd picked up the rugby ball triggering a lifelong quest to dream is grounded and taken it almost to the fi- build a jetpack. But today, nish line and felt it was time with the company he crea- for other people to do the ted seemingly on the verge of rest," he says. triumph, Martin worries his Coker, 60, a former officer in dream is slipping away. AP PHOTO Britain's Royal Air Force, has Martin Aircraft Co. says it increased the staff from six to will deliver its first experi- 58 since taking the reins three mental jetpacks to customers years ago. this year, a big development By late 2016, he plans for the for the new technology. But first customers to begin using the jetpack is being designed the jetpack prototype in real- for first responders like fi- time operations while provi- refighters, an outcome that ding feedback for further im- falls short of Martin's vision provements. The company is of a recreational jetpack that also developing an unmanned anybody could fly. jetpack, which will be used for The inventor has now left the transporting goods. company he founded. What's The company has signed pre- more, he says, he's asked for liminary agreements with se- his name to be removed. veral agencies, including Du- "All us guys know what a jet- bai's civil defense department. pack's for," he says with a smi- Coker says Dubai and others le at his Christchurch home. are interested in jetpacks that "With a jetpack, you save the can rescue people from skys- world and you get the girl. Ri- crapers, or put out fires in ght?" them. He says jetpacks can get Jetpacks have often been much closer to buildings than portrayed that way in books helicopters, and some people and movies. They have formed Test pilot Michael van der Vliet operates a flight simulator at the Martin Aircraft Co. headquarters in Christchurch, New Zealand are calling them "high-rise li- part of humanity's utopian feboats." future vision for the past cen- 1960s, showed it was possible. building a personal jetpack. Obstacles remain. The jet- tury. Fictional characters from However, that jetpack couldn't "We are now an aviation The inventor pack will need to be cleared Buck Rogers to Elroy Jetson carry much weight and could company," Coker says. "Befo- by aviation authorities. Mar- have used them, and a real je- remain airborne for less than re, it was very much the kiwi has now left tin Aircraft has been working tpack wowed the crowds at the 30 seconds. It was for show, dream. But you have to take the company with New Zealand's Civil Avia- opening of the 1984 Olympic nothing more. that commercial path." tion Authority on a new cate- Games in Los Angeles. In the mid-1990s, three Glenn Martin's vision still he founded. gory for jetpacks, which Coker Martin, 56, grew up in the Houston men decided they'd holds true, Coker says: Crea- hopes will provide a template South Pacific, thousands of try to make one. Instead, they ting and selling a personal jet- What’s more, for other nations. kilometers from Houston. But made a mess. They fell out pack remains part of what the he says he’s Coker says Martin has not he followed the space race avi- over money and their venture company is all about. formally asked for his name dly. ended with an unsolved mur- But Martin doubts the com- asked for his to be removed from the com- "I still remember sitting in der, an abduction, a man in pany will ever make one. pany, and he can't recall any class and listening to Neil Ar- jail and a device that had va- When he began his research, name to be informal approach. If the fou- mstrong step onto the moon," nished. he wanted to improve on the nder made an official request, he says. "And I believed, I su- Peter Coker, Martin Air- Bell rocket belt and make a removed Coker says, the board would ppose, that we would all have craft's chief executive, says jetpack that could lift a soli- consider the impact on bran- flying cars and jetpacks and he believes the best business dly built guy like himself and ld his jetpack with straight- ding and marketing before bases on Mars by the time I plan is to make jetpacks for a safety parachute, then stay forward components, inclu- making a decision. was an adult." first responders and later for airborne for at least 30 minu- ding a piston engine that uses And Glenn Martin? Yes, he's Storied though they may other commercial operators. tes. He decided to use ducted standard gasoline. He wanted disappointed he didn't see the be, jetpacks have a troubled Once all the supply chains are fans, making the word jetpack to keep it small enough to be concept all the way through. history. The Bell Aerospace in place, he says, the company something of a misnomer. classified as ultralight aircra- On the other hand, he enjoyed rocket belt, developed in the can then turn its attention to During the 1980s, he worked ft, which in the U.S. don't typi- a summer holiday with his fa- in the pharmaceutical indus- cally require a pilot's license mily this year for the first time try and built prototypes in his to fly. He figured anyone cou- he can remember. garage. He sponsored two uni- ld learn to fly one after a 3-day "Jetpacks are a funny thing. AP PHOTO versity students to check his course and be kept safe with a They create a lot of passion," math. By 1997 he needed a li- built-in parachute which wou- he says. "Everybody loves ghtweight pilot, so he enlisted ld automatically deploy in an the idea of a jetpack. But the his wife, Vanessa, to make the emergency. reality is that it's a lot of hard inaugural flight. It lasted a few But as he sought to raise work." seconds. funds for his fledgling com- The jetpack may look bulky, More refinements eventually pany, Martin says, he began but Martin says you don't no- allowed the jetpack and its pilot losing control. Along came tice that when you're airbor- to remain airborne for several investors, venture capitalists, ne — an experience he likens minutes and complete control- and plans for an Initial Public to living out his childhood led turns. Martin took inspira- Offering. dreams. tion from reading the Wright The company was listed on "The jetpack is all behind brothers' journals; in 2008, he the Australian stock market you. You can't see it," he says. took a prototype to the Experi- in February last year, and "All you can see is your hands. mental Aircraft Association air- is now majority owned by a It's like some magic hand show in Wisconsin. Chinese company, KuangChi has lifted you up, and you're Jetpack inventor Glenn Martin sits in his home in Christchurch He says he decided to bui- Science. It's valued at about flying." AP fri 08.04.2016

th Anniversary

廣告 ADVERTISEMENT 13 08.04.2016 fri

th Anniversary

14 WORLD 分析

PANAMA PAPERS they're talking about." Individual states, including Nevada, Wyoming and South US emerging as tax haven alongside Dakota, are making things wor- se, critics say. They compete to make it ea- Switzerland, Caymans sier to set up corporations, with few questions asked about who's behind the business. "We HE United States is emer- "The banking lobby has re- have states that set up corpo- ging as a top tax haven sisted changes in the law that rations where there's no in-

T AP PHOTO alongside the likes of Switzer- would allow more sharing of formation about ownership," land, the Cayman Islands and data," says Peter Cotorceanu, a says Jack Blum, a Washington Panama, those seeking reform Zurich-based lawyer who spe- lawyer who specializes in finan- of the international tax system cializes in private banking. cial crime. say. And states such as Delawa- In a report last year, the Tax Nevada, for instance, makes re, Nevada, South Dakota and Justice Network complained it easy to incorporate secretly Wyoming, in particular, are that "Washington's indepen- and charges a USD500 annual competing to provide foreigners dent-minded approach risks business license fee for cor- with the secrecy they crave. tearing a giant hole in interna- porations and $200 for other "There's a big neon sign saying tional efforts to crack down on businesses. The money is ear- the U.S. is open to tax cheats," tax evasion, money laundering marked for teacher salaries. says John Christensen, execu- and financial crime." It said Many of the businesses are tive director of the Tax Justice foreign elites have "used the mere shells, financial contri- Network. People walk past the Arango Orillac Building which lists the Mossack Fonseca law United States as a bolt-hole for vances that don't employ peo- America's openness to foreign firm in Panama City looted wealth." ple or make any investments. tax evaders is coming under Pascal Saint-Amans, head of In 2014, a group of academics new scrutiny after the leak this behind Switzerland and Hong But the U.S. doesn't automati- the OECD's Center for Tax Po- looked at tax havens for their week of 11.5 million confiden- Kong but ahead of notorious cally return the favor. licy and Administration, says book "Global Shell Games." Po- tial documents from a Pana- tax havens such as the Cayman More than 90 countries have the U.S. often makes informa- sing as investors who wanted to manian law firm. The Panama Islands and Luxembourg. signed on to a 2014 informa- tion available to other countries set up businesses in different Papers show how some of the Under a 2010 law, passed af- tion-sharing agreement set up upon request. But that means places, they kept track of whe- world's richest people hide as- ter it was learned that the Swiss by the Organization for Econo- countries can get details only ther the consultants helping sets in shell companies to avoid bank UBS helped thousands of mic Cooperation and Develop- on those they already suspect of them incorporate asked for ba- paying taxes. Americans evade U.S. taxes, ment, but the U.S. is among the tax evasion. sic information such as photo Christensen's group, which the United States demands that few that haven't joined. Ame- Christensen says Swiss banks IDs or other documents that campaigns for a global crack- banks and other financial insti- rican banks don't even collect report that "many of their tax- proved who they were. In the down on tax evaders, says the tutions disclose information on the kind of information foreign dodging clients are talking United States, only 25 percent United States ranks third in Americans abroad to make sure countries would need to identi- about moving to the U.S. You did; in Delaware, only 6 per- the world in financial secrecy, they pay their U.S. taxes. fy tax dodgers. go to Switzerland, and that's all cent. AP

ad fri 08.04.2016

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分析 WORLD 15

HE Latest on the publication PANAMA PAPERS: THE LATEST by a coalition of media outlets of an investigation into offsho- re financial dealings by the Trich and famous and powerful. Panama to create panel to boost transparency EN.WIKIPEDIA.ORG

for suspected criminal mismanage- with his brother years ago. with all tax regulations in Spain and ment and misappropriation linked to The Europa Press news agency says elsewhere. dealings with Cross Trading, an offsho- Almodovar canceled an appearance at re registered agency. Cross Trading is a photo shoot and interviews ahead of TRANSPARENCY owned by two men indicted last year the movie's premiere in Madrid yes- IN HAVEN by American federal prosecutors who terday. It will be released to the public Panama's government is creating an are working with Swiss counterparts today in Spain. international committee of experts to to investigate suspected corruption in EN.WIKIPEDIA.ORG recommend ways to boost transparen- international soccer. cy in the Central American country's offshore financial industry. AP PHOTO President Juan Carlos Varela is trying EN.WIKIPEDIA.ORG to shore up confidence in his nation's financial industry after the leaking of MALTA MINISTER 11.5 million documents from a pro- FEELING THE HEAT minent Panama-based law firm that Malta's health and energy minister is helped create shell companies for the facing calls for his resignation after he world's rich and famous. Almodovar's production company El was named in a leak of documents from The Panamanian leader said that the Deseo asked The Associated Press to a Panama-based law firm. committee's findings will be shared UEFA and its Champions League submit questions in writing and did Konrad Mizzi, who is also deputy leader with other nations so joint action can marketing agency — TEAM Marketing not immediately respond to a request of the governing Labour Party, has ack- be taken to boost transparency in legal based in Lucerne, Switzerland — made for comment. nowledged owning a company in Panama and financial centers worldwide. a USD111,000 deal with Cross Trading "Julieta" is Almovodar's 20th movie. which is held by a trust in New Zealand. As he takes steps to strengthen con- in 2006 for three seasons of broadcas- Europa Press said actors in the mo- However, Mizzi insists that the leaked trols, Varela is defending Panama ting in Ecuador. The 2006 contract, vie, including Emma Suarez, Adriana documents make no reference to him against what he calls a "media attack" co-signed by current FIFA President Ugarte, Rossy de Palma, Daniel Grao, holding any funds in Panama. He said by wealthy nations that he says are ig- Gianni Infantino when he was UEFA Inma Cuesta and Michelle Jenner went he has commissioned an independent noring their own deficiencies and un- legal director, was leaked from the da- ahead and did interviews. tax audit to prove that he's done nothing fairly stigmatizing Panama. tabase of Panama-based law firm Mos- Almodovar's brother Agustin on wrong, and that the company in Panama sack Fonseca. Monday blamed his lack of experien- "will be closed soon after the tax investi- UEFA acknowledged that Swiss fe- ce for a decision to set up an offshore gation is concluded." deral police "acting under a warrant" company in the British Virgin Islands The opposition Nationalist Party is hol- came to see its contracts with Cross in 1991 that was shut down in 1994. ding a protest to press for Mizzi's resig- Trading. nation and has filed a motion of no-con- EN.WIKIPEDIA.ORG fidence against the government. Prime Minister Joseph Muscat has stood by his minister, but said he will dismiss him if it emerges that what Mizzi EN.WIKIPEDIA.ORG is saying is untrue.

NO HAPPY SONG Brazil's UOL news portal says an of- AP PHOTO fshore company created by Roberto Carlos, one of the country's most po- pular singers, appears in the files of TU, TAMBIEN, VARGAS?! the Panamanian law firm with inter- MY NAME IS BOND A Spanish news website says a docu- national offices that provide offshore The Panamanian law firm at the cen- ment in the massive leak of material financial services. ter of the huge leak of data on offsho- from a Panamanian law firm shows The release earlier this week of the re accounts reportedly incorporated a that Nobel literature laureate Mario Mossack Fonseca documents on of- string of companies named after Ja- Vargas Llosa and his ex-wife were lis- AMBITIOUS ROSBERG fshore financial dealings of wealthy, mes Bond films. ted as shareholders in an offshore Bri- A lawyer for Nico Rosberg says the For- famous and powerful people around The Organized Crime and Corrup- tish Virgin Islands company for about mula One driver used an offshore com- the world has raised questions over the tion Reporting Project, which says it's a month in 2010. pany solely for liability reasons and to widespread use of such tactics to avoid one of the outlets given access to the However, a statement from Vargas enable him to operate internationally. taxes and skirt financial oversight. leaked documents, says law firm Mos- Llosa's literary agent said he was sur- German public broadcaster NDR has Blogger Fernando Rodrigues said sack Fonseca incorporated companies prised to hear that the two were listed reported that Panama-based law firm on UOL that Carlos is one of the sha- named Goldfinger, SkyFall, GoldenEye as shareholders with Talome Services Mossack Fonseca manages a company reholders of Happy Song, an offshore and Moonraker and was asked to set Corp. called Ambitious Group Ltd which has company created in 2011 to manage his up a firm called Octopussy. News site El Confidencial said it ob- a contract with Mercedes for Rosberg's career. The OCCRP said the law firm also tained the document from the cache of "driver services." Carlos' press office told UOL that the incorporated companies named Blo- leaked material from law firm Mossack Mossack Fonseca is at the center of a company is duly registered with Brazi- feld and Spectre, after the classic Bond Fonseca. Its report says emails show a vast leak of confidential documents de- lian tax authorities and the country's villain and his organization. In addi- Vargas Llosa representative asked tailing the offshore business arrange- Central Bank. tion, its report said, the files contain lawyers to remove Vargas Llosa and ments of thousands of wealthy people. correspondence from a man called his ex-wife as shareholders on Oct. 6, Rosberg's German lawyer Christian FIFA, AGAIN Austin Powers — but that apparently 2010. Schertz says British Virgin Islands-re- UEFA has been raided by Swiss po- was his real name. Vargas Llosa was awarded the Nobel gistered Ambitious Group wasn't used lice and has handed over evidence of prize on Oct. 7. El Confidencial says the for tax avoidance. a Champions League television rights MOVIES: ALMODOVAR company's shareholders were changed Schertz said in a statement late Tues- contract with an offshore marketing CANCELS ‘JULIETA’ PROMO from Vargas Llosa and his ex-wife to day that "tax-wise, Mr. Rosberg acted agency implicated in the FIFA bribery Spanish media are reporting that two Russians on Oct. 12. correctly in every way." scandal. movie director Pedro Almodovar has The statement from Vargas Llosa's He says Rosberg, who won Sunday's The Swiss attorney general's office canceled publicity events for his new agent says he and his ex-wife never Bahrain Grand Prix, is registered in Mo- said it requested raids on the European movie "Julieta" following intense inte- interacted with Mossack Fonseca. It naco for tax purposes and receives all soccer body and "another enterprise" rest in the offshore company he owned also says Vargas Llosa has complied payments there. 08.04.2016 fri

th Anniversary

16 INFOTAINMENT 資訊／娛樂

TV canal macau cinema this day in history Friday cineteatro 13:30 News (RTPi) Delayed Broadcast 07 Apr - 13 Apr 15:00 RTPi Live 18:05 Fillers 18:10 Trail of Lies (Repeated) 19:00 TDM Talk Show (Repeated) 19:40 Soap Opera 20:30 Main News, Financial & Weather Report 21:15 Documentary Serie 22:10 Trail of Lies 23:00 TDM News 23:30 Europa League Highlights 23:45 Europa League: Braga - Shakhtar Donetsk (Repeated) 01:30 Fillers THE HUNTSMAN: WINTER’S WAR_ aturday room 1 S (2D) 2.30, 6.30, 9.30 pm 10:30 Young Children (3D) 7.30 pm 1997 BBC TV newsman 10:50 Drama Director: Cedric Nicolas-Troyan Starring: Chris Hemsworth, Charlize Theron, turns politician 11:30 Young Adult Emily Blunt Veteran war reporter Martin Bell has vowed to fight 13:00 TDM News (Repeat) Language: English (Cantonese) Duration: 114min on to victory over disgraced Conservative MP Neil 13:30 News (RTPi) Delayed Broadcast Hamilton in the general election battle for the cons- 15:00 Soap Opera BATMAN V SUPERMAN: DAWN OF JUSTICE_ tituency of Tatton. 18:00 Classic Music room 2 The newsman-turned-political candidate is cam- 2.15, 7.00 pm paigning as an independent, although he has been Contest 18:30 Director: Zack Snyder encouraged to stand by both Labour and the Liberal 20:00 Documentary Serie Starring: Amy Adams, Jesse Eisenberg, Diane Lane Democrats. 20:30 Main News, Financial & Weather Report Language: English (Cantonese) Local Conservatives gave their backing tonight to Duration: 153min Mr Hamilton, after he again denied taking bribes 21:00 Drama from Mohamed Al Fayed, the owner of Harrods in the 22:00 Intelligence S.1 cash-for-questions scandal. 22:45 Documentary Series The former newsman, who made his name reporting 23:00 TDM News from war zones like Bosnia in his trademark white suit, told a news conference: “I want to get him out 23:30 Brother’s & Sister’s S5 - I really do.” He continued: “I had hoped mine would be the shor- Sunday test political campaign in history. But I am going to fight hard.” 10:30 Young Children Mr Bell announced his official candidacy yesterday 11:00 Sunday Mass after the local Labour candidate offered to withdraw from the election and give a free run to an anti-sleaze 13:00 TDM News (Repeat) candidate. 13:30 News (RTPi) Delayed Broadcast Mr Hamilton has been accused of taking cash in 14:30 Zig Zag return for asking parliamentary questions and dod- ZOOTOPIA_ ging tax and failing to declare a luxury stay at the 16:40 Comedy room 2 Paris Ritz. 17:35 The Rising City 5.00, 9.45 pm When Mr Bell arrived in the Cheshire constituency 18:15 Non-Daily Portuguese News Director: Byron Howard, Rich Moore last week he hoped that by merely suggesting he mi- Language: Cantonese (Cantonese/English) ght stand, the local Tories would decide to throw out 19:05 Documentary Serie Duration: 108min their MP and look for a new candidate. 19:40 Comedy Instead Mr Hamilton has vowed to fight on, with the 20:30 Main News, Financial & Weather Report support of local Tories who voted by 182 to 100 in 21:00 Contraponto favour of him standing, and Mr Bell is committed to stay the course. 22:00 KKK - The Fight For White Supremacy Earlier today he paid his first official visit to the 23:00 TDM News constituency as its independent candidate. 23:30 Non-Daily Portuguese News He was ambushed by Mr Hamilton and his wife, Christine, as newsmen crowded round him on Knu- tsford Heath. Mr Bell, flanked by his daughter Melissa and Bosnia war hero Colonel Bob Stewart shook hands with Mr Hamilton. offbeat He said: “I really want this to be a decent and dig- nified campaign.” rench lawmakers vote on Mr Hamilton said he wanted Mr Bell to stand as an F independent and not an anti-corruption candidate. punishing prostitutes’ clients He claims he is innocent of the allegations made TRIVISA_ France’s lower house of parliament holds a final vote this against him - although he has admitted accepting room 3 week on a bill against prostitution and sex trafficking that hospitality which he had not declared. 2.15, 4.00, 5.45, 9.30 pm The former TV reporter is currently the bookies’ fa- bans buying sex, not selling it. Customers would face fines Director: Jevons Au, Frank Hui, Vicky Wong and be required to attend classes on the harms of prostitu- vourite to oust Mr Hamilton. Starring: Richie Jen, Jordan Chan, Ka Tung Lam Courtesy BBC News tion. Language: Cantonese (Cantonese/English) The bill is likely to be adopted since the National Assembly, Duration: 97min which has the final say, is in favor of the proposal. Prostitution is currently legal in France. The measure would ZOOTOPIA_ do away with a 2003 law that bans passive soliciting by pros- In context room 3 titutes on the street. Brothels, pimping and the sale of sex by 7.30 pm Martin Bell resigned from the BBC the following day (9 minors is also illegal. Director: Byron Howard, Rich Moore April). The bill would introduce a 1,500-euro (USD1,700) fine, ri- Language: Cantonese (Cantonese/English) Neil Hamilton tried to take legal action to stop Mr Bell stand- sing to 3,750 euros for a second offense. The convicted client Duration: 108min ing as an anti-corruption candidate - but the bid failed. would be forced to attend classes highlighting the harms of Mr Bell went on to win the seat with a majority of over 11,000, prostitution. The measure would also make it easier for fo- overturning what had once been the third biggest Tory major- reign prostitutes — many currently illegally in France — to macau tower ity in the country. acquire a temporary residence permit if they enter a process He remained in parliament for one term - although he did to get out of the prostitution business. 24 Mar - 27 Apr stand as an anti-corruption candidate in the constituency of Supporters of the bill argue that it would help fight trafficking Brentwood and Ongar in the 2001 election but failed to oust networks. BATMAN V SUPERMAN: DAWN OF JUSTICE_ the sitting Conservative MP. Opponents fear that cracking down will push prostitutes to 1.15, 4.00, 6.45, 9.30 pm In 2004 he stood for the European Parliament but failed to hide and they would be even more at the mercy of pimps and Director: Zack Snyder get elected and afterwards said he was retiring from politics. violent clients. Starring: Amy Adams, Jesse Eisenberg, Diane Lane Mr Hamilton continued to protest his innocence, but his libel If adopted, the bill would make French law one of the tou- Language: English (Cantonese) action failed and in 2001 he was declared bankrupt. ghest against sex buyers in Europe. Duration: 153min fri 08.04.2016 th Anniversary

資訊／娛樂 INFOTAINMENT 17

YOUR STARS THE BORN LOSER by Chip Sansom Aries Taurus

Mar. 21-Apr. 19 April 20-May 20 Sometimes it’s easy to figure out The power struggle of the ages how to achieve your goals: Make a is playing itself out right in your list of steps and follow them. This office. No, it’s not a generational time, planning ahead is a bit more thing. It’s the outrageous versus the complicated, so enlist the help of conservative. The winner is still up in others. the air, so don’t place any bets just yet.

Gemini Cancer

May 21-Jun. 21 Jun. 22-Jul. 22 Everyone’s opinion is changeable, When others have differing ideas, even yours. A training session has you get plain mad. It’s not that you going into work one person, emotions are irrelevant, it’s that your and coming home another. Enjoy intellect should trump them. That’s a your new point of view. polite way to say, ‘get a grip.’ SUDOKU WEATHER Leo Virgo MIN MAX CONDITION Jul. 23-Aug. 22 Aug. 23-Sept. 22 CHINA If you hog everything for yourself, Find small ways to change, either Easy Easy+ you won’t get any further than your routine, the way you organize doing what you can handle alone. things or your outlook on work. Your Beijing 9 25 clear The more power you acquire, the regular way of doing things may be Harbin clear/cloudy more you need to delegate, so start only a bit different, but the ripple will -2 7 thinking laterally now. turn into an awesome wave! Tianjin 11 25 clear Urumqi 21 clear Libra Scorpio 9 Xi’an 12 22 cloudy Sep.23-Oct. 22 Oct. 23 - Nov. 21 Lhasa 4 17 overcast/shower It’s not easy being a quick study. If your family was prone to Chengdu 15 23 drizzle/overcast Once you get the hang of a task, unexpected outbursts, then that’s it soon becomes routine and all all the more reason to relish the Chongqing 18 21 shower the romance goes out of it. You professional atmosphere of the office. Kunming 12 27 clear already need something new, so Avoid situations that might rattle you clear your throat and speak up. and try staying in your cubicle. Nanjing 12 23 cloudy Shanghai 13 20 cloudy Sagittarius Capricorn Wuhan 13 24 cloudy Medium Hard Nov. 22-Dec. 21 Dec. 22-Jan. 19 Hangzhou 14 19 overcast/cloudy You’ll have to use some creativity to You may know you’re on the up and Taipei 20 28 clear/drizzle express yourself today, especially if up, but others don’t. The last thing Guangzhou thundershower/cloudy it’s a new idea or you’re talking to you want to do is come across as a 22 28 strangers (or both). You’ll pull it snake oil salesman. Change your Hong Kong 22 27 cloudy off with flying colors, so get to work approach so others see more of your impressing others. sincerity and less of your zeal.

Aquarius Pisces WORLD

Jan. 20-Feb. 18 Feb.19-Mar. 20 Moscow 4 13 drizzle It would take quite a lot to It would be great to work around Frankfurt 0 11 cloudy generate any excitement in your the clock. But for your mind and office. Your plan would have to be soul, not so great. When your Paris 5 11 drizzle downright brilliant. But that it is, thoughts start to get scattered and London 6 10 drizzle so share your vision. Others will it’s hard to focus, you know it’s be affected by it. time to give yourself a rest. New York 6 17 heavy rain/drizzle

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08.04.2016 fri

th Anniversary

18 SPORTS 體育

JAPAN WADA: Kenya has until May 2 Badminton player set to miss or will be non-compliant Olympics for Gerald Imray, Mutwiri Mutuota after WADA declared it non- thing that would make them compliant because of corrupt not go to the Olympics. But gambling HE World Anti-Doping AP PHOTO activity by anti-doping and with that one month, every- TAgency yesterday gave track authorities. thing will be OK and they can Japanese badminton player Kenya a final deadline of May WADA’s decision gave continue to train and do well A has admitted to gambling 2 to bring its program in line Kenya a little over three in Rio.” at an illegal casino, damaging with the global code or a re- weeks to pass the law crimi- Doping regulations aren’t the his chances of competing at the view committee will recom- nalizing doping, the biggest only problems Kenya faces. Olympics in Rio de Janeiro. mend it is declared non-com- problem among the proposed Four senior track and field Kento Momota gambled at a pliant. reforms. The legislation has officials were suspended pen- Tokyo casino which was raided WADA said in a statement been debated once by Kenyan ding investigations by the by police last May and has since Junior athletes run past a sign for lawmakers but suffered nu- IAAF into allegations they that an independent com- Athletics Kenya at the Discovery closed, Kyodo news reported yes- pliance review committee cross country races in Eldoret, merous delays because of the attempted to extort money terday. met Tuesday and decided western Kenya country’s system of passing from athletes in return for Momota, who is second in the Kenya’s anti-doping program laws. lenient bans. Also, an inves- world rankings, became the first was still “not in complian- The board meets in Montreal Kenyan officials expressed tigation by the AP recently Japanese man to win a medal in a ce” with WADA’s code. That on May 12. confidence the latest exten- found Kenyan runners who world badminton championships Tuesday deadline was the se- Although being non-com- sion would be enough to get were banned for doping were singles competition when he took cond Kenya missed this year. pliant with WADA’s rules the law passed despite alrea- still competing in internatio- bronze in Jakarta last August. Unless Kenya has passed doesn’t immediately affect dy missing the previous Feb. nal races. Nippon Badminton Association doping legislation and for- Kenyan athletes, it could spur 11 and April 5 deadlines. Since the 2012 London secretary general Kinji Zeniya mally adopted regulations the IAAF to consider further “We are all happy about this Olympics, 40 Kenyan athle- said it would be “unable to nomi- for its new national anti-do- sanctions, including a possib- and confident that parlia- tes have been banned, a rate nate” Momota to compete at the ping body by next month, le international ban. ment will enact the bill within of one nearly every month. Olympics. the committee will ask WA- IAAF president Sebastian this period,” Anti-Doping The biggest name so far is Gamblers can face up to three DA’s board to declare it non- Coe has not ruled out further Agency of Kenya chief execu- Rita Jeptoo, who was about years in prison for betting at ca- compliant, WADA said. The action against Kenya if the tive Japhter Rugut told The to win USD500,000 for being sinos, which are illegal in Japan. WADA board has the final say country has serious problems Associated Press. the top women’s marathon Momota and teammate Kenichi on whether the East African with its anti-doping program. Kenyan athletics federation runner in 2014 before it was Tago, who has also admitted to nation with a rich history of The IAAF last year banned vice president Paul Mutwii announced she failed an out- gambling at the same venue, will distance running champions Russia from international said “This is great [...] Athle- of-competition test for the hold a news conference on Fri- is declared non-compliant. track and field competition tes were jittery about any- blood booster EPO. AP day. AP ad fri 08.04.2016

th Anniversary

體育 SPORTS 19

FOOTBALL OLYMPICS Child abuse laws Wolfsburg stuns Real as important as anti-doping

Madrid in Champions HE head of the Austra- pics in August. Tlian Olympic Committee "I have been involved in says child abuse prevention the legal side of these initia- League upset needs to be elevated to the tives along with IOC Athle- same importance as the tes', the Athletes' Entourage anti-­doping code within the and the Medical and Scien- Olympic charter. tific commissions so we can AOC president John Coa- all better understand and

AP PHOTO tes gave evidence yesterday deal with harassment and at a national commission child abuse," Coates said. hearing which is investiga- "Reporting channels have ting child protection poli- been set up for the first time cies and strategies within in Rio." sporting institutions. An AOC statement said Coates, also a vice presi- it was proposed that an dent of the International IOC-appointed welfare of- Olympic Committee, said he ficer will be stationed in was helping steer the IOC to the Olympic Village in Rio recognize the issue of haras- throughout the Games sment and child abuse in its and will be responsible for ethical behaviors by-laws. following up alleged inci- He said an amended code dents of harassment and of ethics which covers the abuse. prevention and reporting of Australian officials estima- bullying and sexual harass- ted about 10 athletes in its ment of young athletes will 450-member team for Rio be trialed at the Rio Olym- will be under 18. AP

SWIMMING Park Tae-hwan blocked from competing at

Real Madrid’s Cristiano Ronaldo (left), and Wolfsburg’s Ricardo Rodriguez go for a header during the Champions League first Olympics in Rio leg quarterfinal soccer match between VfL Wolfsburg and Real Madrid in Wolfsburg, Germany HE South Korean the decision is irreversible. OLFSBURG well," Madrid coach Zinedine fore and had only made five TOlympic committee has Park's camp had argued caused the big- Zidane said. "But we still have brief appearances in the Bun- blocked former Olympic that the rules, introduced gest upset of this 90 minutes at home, we have desliga before last night but swimming champion Park by the KOC in 2014, were season's Cham- to stay calm." threatened frequently on the Tae-hwan from competing excessive. Team GMP, pionsW League with a 2-0 vic- Madrid came into the match right flank. at this year's games in Rio Park's management com- tory over record 10-time win- following a 2-1 win over Bar- "He really tied down Marcelo de Janeiro even though he pany, said the swimmer ner Real Madrid in the first leg celona in the Spanish league and he is good in the air and finished serving a doping wasn't yet ready to com- of their quarterfinal yesterday. "clasico," while Wolfsburg is fast," Hecking said. suspension in March. ment on his future plans. Making only its second struggling in the Bundesliga. Hecking also criticized Mar- The Olympic committee The 26-year-old Park, who appearance in the competition It was beaten 3-0 by Bayer Le- celo for playacting that ear- said yesterday it reached a won the gold medal in the and playing its first quarter- verkusen last weekend, having ned Arnold a yellow card. "He decision to uphold its rules 400-meter freestyle at the final, Wolfsburg outmuscled previously lost one and drawn doesn't need it," Hecking said that ban athletes suspended 2008 Beijing Olympics, is and outran the Spanish giant the other of its two league ga- of Madrid's defender, who fell for doping from competing coming off an 18-month ban to give itself a clear chance mes before that. down clutching his face al- with the national team for after testing positive for tes- of advancing after next Tues- "We knew it would be diffi- though he wasn't touched by an additional three years tosterone in an out-of-com- day's second leg at the Berna- cult. Wolfsburg got better into Arnold. after the end of their sus- petition doping test. beu. the match. We had our dif- "This is breathtaking," Ar- pensions. Park, who also won silver "We are in a good position, ficulties, we lacked intensity nold said of his team's win. "We reached a conclusion in Beijing and added two we can always score a goal," and movement. We didn't ex- "But we're only 50 percent that revising national team more silvers at the 2012 Wolfsburg's coach Dieter He- pect to lose 2-0," Zidane said. done." selection rules for a parti- London Games, remains cking said. "We wanted to "Our second half was better." The second surprise was the cular individual is inappro- the only South Korean to unnerve them a little, and we In the night’s other match, inclusion of central defender priate," the committee said win an Olympic medal in succeeded." Paris Saint-German drew 2-2 Naldo, who missed five weeks in a statement, adding that swimming. AP Ricardo Rodriguez conver- with Manchester City at home. with a shoulder injury and had ted a penalty in the 18th mi- Wolfsburg took the lead been expected to sit out the nute and Maximilian Arnold when Casemiro upended An- rest of the season. added the second in the 25th dre Schuerrle with a rash tack- "My doctor came from Brazil AP PHOTO as the home side used counte- le. Rodriguez sent Kelor Navas and I told the coach this week rattacks to devastating effect, the wrong way from the spot. that I was ready to play," Nal- dealing Madrid its first defeat The second goal came soon do said. in the competition this season. afterward. Madrid striker Karim Benze- Wolfsburg has won all five Julian Draxler cut inside ma limped off late in the first home matches. form the left and squared the half with what seemed a left- Cristiano Ronaldo had a goal ball to Bruno Henrique, whose knee injury. disallowed for offside in the cross allowed Arnold to tap in Schuerrle could have made second minute and the Ma- from close range. it 3-0 in the second half but drid star had little chance of Henrique was a surprise shot high, while Ronaldo sent increasing his competition-hi- choice by Hecking. The Brazi- a close-range header over the gh tally of 13 goals after that. lian midfielder had not played top after a cross from Gareth "We didn't get into the game in the Champions League be- Bale. AP THE Chinese writer Cao wins Station08.04.2016Air quality fri th Anniversary BUZZ international children’s book prize Roadside 40-60 20 Moderate Chinese author Cao Wenxuan and German body of work. illustrator Rotraut Susanne Berner have been Cao says he has got all his inspiration from High awarded the Hans Christian Andersen Prize Chinese society, which “has provided me with Density 65-95 for children’s literature. so many lively and unique stories which are Residental The biennial awards were announced this pretty novel to kids elsewhere.” Berner is Moderate week during the Bologna Children’s Book well-known for her series of picture books Area Fair. Cao is the first Chinese writer to be showing richly detailed, everyday scenes. opinion shortlisted for the prize, considered the most First awarded in 1956, the Hans Christian Ambient 25-45 prestigious children’s book award, while Ber- Andersen Prize is often known as the Nobel Good SOURCE: DSMG SOURCE: Kapok ner has been nominated many times for her Prize for children’s literature. Eric Sautedé WORLD BRIEFS

A high egality vs responsibility Scientists blame El Nino, NEW ZEALAND L . school musical in New Since the public unravelling of the Panama Zealand got a little too real papers on Sunday, my nights have been signi- when a prop razor used in a ficantly shortened. My, my! This is truly a gri- warming for ‘gruesome’ throat-slitting scene ended pping story! First, because of its sheer size, as the wizar- up cutting two boy’s necks dry of eye-catching data journalism and colour- and sending them to a local ful infographics have made it clear: 11.5 million coral death hospital overnight. documents — including 4.8 million emails! — representing a massive 2.6 terabytes of data, The and implicating 214,488 offshore structures as PANAMA PAPERS well as more than 14,000 banks and other in- Administration. Eakin said fallout from a massive leak termediaries, over a period of roughly 40 years! Kiritimati was the worst he’s of records on offshore That’s 10 times more than the 2013 Offshore AP PHOTO seen, with America Samoa a accounts drags a growing Leaks and 1,500 times more than the 2010 Ca- close second. number of leaders and blegate/Wikileaks! Second, because although it originated from “It is unprecedented,” celebrities into the spotlight, a single Panamanian law firm, Mossack Fon- Baum said. “This is abso- including Rosberg, Roberto seca, the so-called leak has a global reach: lutely the most intense res- Carlos, Almodovar and it involves companies, banks and individuals ponse, the most dramatic Vargas Llosa. And the US is across the seven seas - more than 200 coun- death of a coral reef from an emerging as a top tax haven tries and territories, and threatens people with varying degrees of accountability all over the El Nino event.” alongside Switzerland, world - 140 politicians and public officials, in- The island has been on the the Cayman Islands and cluding 12 current and former world leaders. highest level of alert for co- Luxembourg. More on p14-15 Equally global and hefty is the mobilisation of ral stress since June 2015. more than one hundred media partners and Different species of coral alive and colorful at the Pacific island of Kiritimati NOAA’s Eakin wasn’t part ’s fisheries and 370 journalists, working together under the ICELAND umbrella of The International Consortium of of the Baum-Cobb team, but agriculture minister says Investigative Journalism, of which the first HE coral on the sea floor damage to corals in the past when he saw their photos, he he will seek the president’s press outlet originally approached the Ger- Taround the Pacific island two years, experts said. emailed Baum: “I was sim- approval to become the man newspaper Suddeutsche Zeitung, is a of Kiritimati looked like a While dramatic images of ply aghast at the pictures. I next prime minister, after member. the falling of prime minister And third, because at a time of ever-growing boneyard in November — unprecedented total blea- expected the worst, but still gaping inequalities, it allows to expose the hid- stark, white and lifeless. But ching on Australia’s Great wasn’t prepared for those.” followed his links to offshore den wealth of the rich and powerful, thus stig- there was still some hope. Barrier Reef are stunning He called it “gruesome.” accounts revealed in matising the imperfections of our system of ca- This month, color retur- the world, thousands of It’s the heat that’s killing Panama Papers’ scandal. pitalist wealth generation. Hypocrisy and doub- ned with fuzzy reds and miles to the east conditions the coral. In December, le standards are made obvious, and beyond the The first Syrian issue of legality/criminality emerges the one of browns, but that’s not good are somehow even worse. temperatures at Kiritima- JORDAN responsibility - social, economic and political, news. Algae has overtaken “This El Nino has its most ti peaked at 88.5 degrees family to be resettled in in effect much more open to interpretation. The the lifeless coral on what powerful grip right at this (31.4 degrees Celsius) and the U.S. under a speeded- trial of failing oligarchies is thus set to start. had been some of the most spot,” said Georgia Tech cli- have been about 5 to 7 de- up “surge operation” for Yet, if size matters, not all documents are pristine coral reefs on the mate scientist Kim Cobb in grees warmer than normal. refugees leaves Jordan for equal, and ultimately one has to be cautious in the exercise of finger pointing at high-profile planet, said University of a telephone interview from That’s the kind of tempera- Kansas City, Missouri, to tax evaders — President Putin and his 2 billion Victoria coral reef scientist the island 2,000 miles sou- ture spike that can be the start a new life. worth of hidden assets as the opening piece- Julia Baum after dozens th of Hawaii. difference between life and meal — or nations — China, Hong Kong, Rus- of dives in the past week. About 36 percent of the death for coral, Eakin said. sia, the United Kingdom and Switzerland lea- Water temperatures arou- ding the pack if the sample from Panama is to Maybe 5 percent will survi- world’s coral reefs — 72 per- AP PHOTO be trusted. As an economist friend pointed out ve, she estimated. cent of the U.S. reefs — are nd the island are nearly a to me, the level of tax evasion should actually “What it really looks like in such warm water they are degree Fahrenheit warmer be “proportional” to GDP. And if one follows the is a ghost town,” Baum under official death watch, than the last big El Nino, in 2015 study published by Gabriel Zucman about said. “It’s as if the buildings and that could rise to up to 1997-98, and the damage “The Hidden Wealth of Nations,” it is actually A clear some 8% of the world’s financial wealth that is are standing but no one’s 60 percent of the world’s co- is far worse, likely an assist NETHERLANDS being held offshore. And Zucman is thus able home.” ral by July, said Mark Eakin, from man-made warming majority of people who to demonstrate that half of the foreign profits of Kiritimati is where El the coral reef watch coordi- on top of the natural transi- voted in a Dutch referendum US firms are booked in tax havens (the Nether- Nino, along with global nator for the U.S. National tory warming from El Nino, have rejected a far-reaching lands topping the list!), and that the effective warming, has done the most Oceanic and Atmospheric Cobb said. AP European Union free trade rate paid by US corporations has been reduced deal with Ukraine, but an by one third since the late 1990s. Yet again, most of these forms of tax miti- exit poll shows turnout may gation, planning or optimisation are legal and have been too low for the somehow legitimate — secrecy has its virtues vote to be valid. when it comes to industrial intelligence, for times square by rodrigo example. But clearly, the borders with tax avoi- dance or tax evasion (here, I am not even con- sidering money laundering or criminal dealings with financial transactions from dubious ori- AP PHOTO gins) are blurry and ever-shifting. In China, up to 2011, tax evasion was actually one of the 68 crimes that was punishable by death, and in line with a Marxist perspective, the idea of “robbing” the people of their collective wealth John Kerry is now the was considered one of the most serious “subs- USA tantial” offences. most traveled secretary of One of the key findings as far as our region state in U.S. history, pushing is concerned is that the country with the grea- past 1.06 million miles. test number of Mossack Fonseca’s offices was China and that the Hong Kong office was the Another strong busiest of all: at the end of 2015, 29% of the VANUATU companies Mossack Fonseca was collecting earthquake struck the fees for had been incorporated through offices Pacific nation of Vanuatu in Hong Kong and China, and Hong Kong was but there was no tsunami home to the highest number of intermediaries threat and no immediate in operation. Family members of China’s Com- reports of any damage or munist party elite have been exposed, and if there is now a total blackout on the Panama injuries. The magnitude-6.9 papers at large in China proper, trust over the quake was the third strong genuine intent behind the anti-corruption cam- earthquake to strike paign launched by Xi Jinping in 2012 is being Vanuatu since Sunday, tested. Will utter rejection or a mere claim to legality be enough? although none have caused problems.