Archive

Reuters blog archive

from Oddly Enough Blog:

Catching bayonets, what could go wrong?

Photo

It's not that I don't think you know what you're doing, but we hired you to spiff up our military honor guard with some great new moves, and I'm just not sure about your plan.

Trust me, I know what I'm doing.

Okay, I'm sorry, what was your name again?

Lamar.

Okay Lamar, so as I understand it, the honor guard marches up, stops, and everybody just hurls their rifles straight into the air, is that it?

That's it. It's going to be impressive as hell.

The weapons go straight up and come straight back down. The crowd won't soon forget this show!

You're sure these guns won't rotate or anything?

They shouldn't. They'll all have bayonets on them, so I think that should help stabilize them.

from MacroScope:

The thin line between love and hate

Photo

The opinion on Turkey’s unorthodox monetary policy mix is turning as rapidly as global growth forecasts are being revised down.

Earlier this month, its central bank was the object of much finger-wagging after it defied market fears over an overheating economy by cutting its policy rate. It defended the move, arguing that weaker global demand posed a greater risk than inflationary pressures.

from Photographers' Blog:

Seven months atop a crane

Photo

With almost seven months atop a crane, a 51-year old woman trade unionist is staging a solo protest to end layoffs at a shipyard in South Korea.

Kim Jin-Suk, 51, climbed the 35-meter tall crane in the Yeongdo shipyard of Hanjin Heavy Industries and Construction (HHIC) in Busan, the hub of South Korea's shipbuilding industry on January 6 this year and has been there ever since to protest against what she says are "mass layoffs" at the country's former biggest shipbuilder.

from MacroScope:

APEC Summit looms as US trade pacts lag

The White House could face the embarrassing possibility of President Barack Obama hosting the annual APEC leaders summit in November without managing to win approval of free trade pacts with South Korea, Colombia and Panama.

Administration officials say there is every reason to expect the long-delayed trade deals can still be passed in September, a good two months before Obama welcomes South Korean President Lee Myung-bak and 19 other APEC leaders to Honolulu.

from FaithWorld:

“Well-dying course” in South Korea includes test run in a coffin

Photo

(A woman, donning a traditional yellow hemp robe, lies down in a coffin during a "well-dying? course in Seoul July 4, 2011/Truth Leem)

At age 62, Ha Yu-soo had begun to feel his mortality, wondering about the timing of death's soft tap on the shoulder. But why wait, he thought. Maybe he could take a test run. Ha donned a traditional yellow hemp robe, lay down inside a casket and felt at peace -- until the somber, dark-suited attendants placed a lid on the coffin. Then Ha realized his worst fear: the eternal darkness had finally come.

from FaithWorld:

South Korea back in stem cell spotlight with new adult cell treatment for hearts

Photo

(A researcher uses a microscope during a photo call at an aseptic room of the FCB-Pharmicell laboratory in Seongnam, near Seoul, June 28, 2011/Jo Yong-Hak)

More than five years after South Korea's scientific reputation was shattered by a cloning research scandal, the country has approved medication from adult stem cells in the form of a treatment for heart attack victims for the world's first clinical use. South Korea all but put stem cell research into the deep freeze after a pre-eminent scientist, Hwang Woo-suk, was found guilty of fraud for his work in the field in 2005.

from FaithWorld:

South Korea’s religious harmony put to the test by Christian president

Photo

(South Korean President Lee Myung-bak at the presidential Blue House in Seoul June 9, 2011. Credit: Reuters/Jo Yong-Hak)

Many South Koreans concerned about the country's increasing religious polarisation are haunted by a single image - their president on his knees. While attending a national prayer breakfast in March, President ??Lee Myung-bak knelt to pray at the urging of Christian leaders.

from Photographers' Blog:

Luxury dog care open for business

Photo

Affluent South Koreans have just about every fashion accessory imaginable from designer clothes to handbags and the latest trend in Asia’s fourth biggest economy is small dogs.

Just like their well-groomed owners in the ritzy suburbs of the capital Seoul, pets are now big business for groomers, healthcare businesses and even mood music, helping to create a whole new service industry.

from Photographers' Blog:

Outspoken South Korean singer taps populace sentiment

Photo

On June 13, 2002, when South Korea, Japan and the rest of the world were captivated by the 2002 FIFA World Cup, a 50-tonne U.S. army vehicle crushed two South Korean schoolgirls to death during a drill in Yangju, north of Seoul. The girls, Shin Hyo-soon and Shim Mi-seon, both 14, were on their way to a friend’s birthday party.

Wearing traditional funeral clothes, a protester holds a picture of two South Korean girls recently crushed to death by a U.S. military vehicle, at a rally near U.S. embassy in Seoul December 5, 2002.  REUTERS/Lee Jae-Won

Thousands of South Koreans protested for several months to demand then-U.S. President George Bush apologize directly for the incident and hand over the U.S. soldiers involved to South Korean court.

from Eric Burroughs:

Don’t fret about EM outflows

Photo

There’s a lot of excitement around the sharp outflows seen from emerging markets in the latest figures from EPFR Global. But this story is getting a little overplayed. Asian central banks have heard the message on the need to tighten policy, with Bank Indonesia following the Bank of Korea in surprising with a rate hike in the past few weeks. The positive response to the BI rate increase, with the rupiah rising and local bond yields dropping, show that the central bank showed the inflation-fighting resolve that investors were looking for, even if inflation is being exacerbated by food price run-ups beyond the control of monetary policy.

Higher short-term rates are inevitable, and SE Asian yield curves/swap curves have more room to flatten. Just look at how South Korea's swap curve has flattened like mad since the Bank of Korea has appeared to become more aggressive than anyone expected (let's see at this week's policy meeting). At the same time, stronger currencies will be part of any inflation-fighting response to keep from raising rates too much and attracting more hot money – yes, hot money. If anything the U.S. and euro zone markets have gotten a little too excited about higher rates, while some EM markets – look at the Philippines –  still offer chunky real yields, and those real yields are not even close to being as negative as they were during the 2008 commodities freakout. PIMCO’s Bill Gross last week reiterated the biggest bond fund’s support for EM bonds in decrying the “devil’s haircut” of near zero U.S. five-year real yields.

  •