CHINA TYCOONS LOSE BILLIONS IN STOCK CRASH
Ma reportedly lost as much as $123 million in the Tuesday meltdown of the Chinese stock markets, according to Bloomberg Billionaires Index.
Another top billionaire, Wang Jianlin, the head of China’s largest property development group and owner of the world’s largest cinema chain operator, reportedly lost more than $600 million.
The overall loss in the combined net worth of Mainland China and Hong Kong’s wealthiest tycoons was pegged at $34 billion. For more details, see http://bit.ly/1LTLjXI
We are heading into some serious weather, with three typhoons hitting and heading toward China. It looks like it could be worse. Arrival in a bit. See http://www.cma.gov.cn/en2014/
WORLD WAR III?
Longtime Middle East hand Claude Salhani argues the battle with the self-proclaimed Islamic State may be the beginning of a world war.
“We are at war; of that there is no doubt. In fact, we are in the midst of a world war, yet we fail to realise this because this war is unlike anything we have previously experienced. And by ‘we’ I mean all civilised nations that are either engaged or will become engaged in the fight against the group calling itself the Islamic State,” he writes in Arab Weekly at http://www.thearabweekly.com/?id=989
We think he has a point!
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