Justin Bieber's manager signs Korean pop star
The announcement comes as an official attempt to break "Gangnam Style," a track sung almost entirely in Korean that went viral from its hilarious music video, in America. Psy's Korean comeback track was not only a huge hit in his home country (it tied for the most weeks at No. 1 on the K-Pop Hot 100) but on the worldwide social media scene (he is the No. 1 artist on the Social 50 chart). "Gangnam Style" has slowly but surely gained digital downloads and radio play making a debut on the upcoming Hot 100 chart likely.Chicago gives millions to corporate HQ's to move to city, cut jobs
During Rahm Emanuel’s first year-plus as Chicago mayor, his office has issued a steady stream of press releases about corporations moving to downtown. Emanuel’s office says 20,000 new jobs will be created by eight major companies shifting their headquarters there and 28 more companies significantly expanding downtown operations.Does Obama really have a $4 trillion deficit reduction plan?
But on August 19 the Chicago Tribune deflated many of Emanuel’s jobs claims with the front-page story “Mayor Emanuel’s Jobs Pipeline Somewhat Leaky.”
As the Tribune reported, in several prominent cases the shift of jobs from the suburbs to downtown Chicago actually meant serious net job cuts for the region.
As a general point, I think there’s a peculiar dynamic that affects the deficit-reduction conversation in Washington: People prefer “tough” cuts to cuts they think are easy (though the cuts in question are rarely tough on the people analyzing them). So they give a lot more credit to, say, raising the Medicare eligibility age, as that hurts seniors, than to officially drawing down the war spending, or cutting interest payments, or banking the results of a deal. But the deficit doesn’t care how much the cuts hurt. It’s all about the bottom-line number. Which gets me to my issue with Obama’s deficit-reduction plan.China approves $157 billion infrastructure spending
China's powerful economic planning body, the National Development and Reform Commission, announced approvals for projects that analysts estimate total more than 1 trillion yuan ($157 billion), roughly a quarter of the total size of the massive stimulus package unleashed in response to the global financial crisis in 2008.
The announcement comes just before a deluge of Chinese economic data due on Sunday that could confirm investors' worst fears that a downswing in the world's second-biggest economy has stretched into a seventh straight quarter.Myanmar parliament adopts foreign investment law
One proposal dropped from the law would have required a $5 million minimum initial investment outlay. The final version also allows foreign parties to hold a 50 percent stake in joint ventures rather than limiting them to a proposed 49 percent.Putin looks east to the new Asian-Pacific center of growth - China
Elected President Thein Sein launched economic and political reforms when he took office last year after almost five decades of military rule, foreign sanctions and restrictive laws that kept the economy stagnant. Myanmar has an inefficient agricultural sector and small industrial base, and most of its export earnings come from extractive industries, especially natural gas.
The turn east to the Pacific offers Moscow a chance to invest closer to the growth centres of the world, and Mr Putin has taken a strong personal interest in developing the region around Vladivostok.
While Russian rulers have historically looked to Europe and across the Atlantic to the US, the east has been seen as a place of resources to exploit and return to the centre. The population of the region was in steady decline, having lost more than 300,000 people of working age in 15 years, Professor Larin said.India, Pakistan likely to sign visa deal
While the countries first agreed to grant more business visas in November, the pact hasn’t been signed. Under the proposals, company executives will be issued one-year, multiple-entry visas for 10 cities of their choice, the Indian Express reported in May.Canada cuts ties with Iran, evacuates Embassy
Tourist visas may be issued for the first time, it said. Hasan-Askari Rizvi, an independent political and military analyst in Lahore, said he doesn’t expect any breakthrough from the talks after a meeting last week on the margins of a summit in Tehran between Singh and Zardari failed to produce meaningful results.
It comes as Iran’s talks with world powers over its nuclear program have stalled and Israel is weighing the option of a military strike to prevent it from developing atomic weapons. Iran insists its nuclear program is for peaceful objectives only.
The move also underscores the widening gaps between Western countries’ attempts to isolate and punish Iran and Tehran’s efforts to forge closer ties with energy-hungry Asian trading partners such as India and Pakistan to counter Western sanctions. Iran’s recent push to bolster and redefine its links with Asia makes the break with Canada a less serious blow to Tehran than it would have been years ago.