Asia Cast

Asia Cast for Wednesday 12th May

In this Bulletin…

- China’s real estate market policies failing;
- Hong Kong’s immigration department blacklist; and
- Massive fruit label mistake benefits Australia’s homeless.

But first we have our Shen Yun quote of the day

[Audio]

For more information please visit www.ShenYunPerformingArts.org.

Our SOH focus on China is next

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China’s increasing inflation and soaring housing prices are mounting pressure on policy makers to raise interest rates.

Yet, untimely and ineffective adjustment policies meant housing and land prices still soared in China in 2009, despite intervention by the regime.

According to Business Week, property prices rose at record speed in April, and consumer prices climbed at the fastest rate in 18 months. Figures show new lending exceeded the forecasts of all economists surveyed.

The 12.8 per cent jump in property prices in 70 cities was the biggest since data began in 2005, defying a government crackdown on speculation that intensified last month.

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Deflated attendance numbers at Shanghai’s World Expo were the result of a document that ‘discouraged and disapproved’ state-owned entities from attending at government expense, says state-run media.

China’s premier was reported to have approved the circulation of the notice. It allegedly led to mass cancellations of publicly funded junkets to Shanghai.

State-run media and expo organizers had initially trumpeted the expo as aiming to be the best attended in history of the event. However, organizers were relying heavily on state-owned enterprises to reach their quota of 380,000 visitors per day. They reached an average of 150,000 per day May 6.

More on this story at The Epoch Times.

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And now for the rest of today’s Asia Cast

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The Hong Kong Immigration Department is under fire for denying visas while enforcing a blacklist under instructions from the Chinese Communist Party.

Taiwanese practitioners of the Falun Gong spiritual practice have been denied entry visas during days the communist party labels as sensitive days.

The Hong Kong Human Rights Monitor (HKHRM) has submitted a complaint, questioning the operations. They are asking authorities to take action to prevent law enforcement agencies from abusing power.

HKHRM told The Epoch Times they worry if documents were destroyed, an independent monitoring agency would be unable to assess authorities abuse of power.

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Japanese automaker Toyota has returned to profit in the fourth quarter despite it being hit by a string of recalls.

In the three months to the end of March, Toyota made profits of US$ 1.2 billion dollars. The company had cut its prices to keep buyers coming to their showrooms.

The automaker was forced to recall more than 8 million cars because of safety concerns. Despite safety issues, Toyota announced a forecast of better financial results for the next fiscal year.

Global sales for the year totalled 7.24 million vehicles, down 4 per cent from the previous year.

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“You are listening to Asia Cast on the SOH Radio Network”

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Pakistan ambassador to the United Nations has said the man accused of the failed car bombing in New York City’s Times Square has acted alone.

The two Pakistani homes of the car bomb suspect Faisal Shahzad are both sealed. Media say the family has left, although some servants remain inside. Villagers are stunned at the allegations.

Some villagers are saying Shahzad never spoke about the Taliban or any other militant group, although he had grown critical of the American policy about Muslims.

Other villagers spoke out about the bad name the entire situation has brought to their village.

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Over 800,000 cans of pineapple are bound for Australia’s homeless community thanks to Australia’s Competition and Consumer Commission.

The watchdog ordered US company Heinz, to stop selling products labelled “Proudly Australian Owned”. Thousands of tons of incorrectly labelled cans of pineapple must be disposed.

The cans were donated to the charity Foodbank Australia. They received 1,000 pallet loads of pineapple. The food bank was glad to take the sliced, diced, and crushed pineapple and juice cans.

Australia Foodbank distributes 17 million kilos of unwanted food from supermarkets, warehouse and factories every year to the needy through charities and shelters.

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“Asia Cast… keeping you across the top headlines from Asia and the World.”