May. 29, 2012 – 02:35PM JST
Japan and China will start direct currency trading this week, Tokyo said Tuesday, the first time Beijing has let a major unit other than the dollar swap with the yuan.
The move, which will scrap the greenback as an intermediary unit, comes as China introduces measures as part of a long-term goal of internationalizing its currency to rival the dollar.
The two-way trade will also be allowed to move in a wider range than the narrow band at which the dollar and yuan change hands, Dow Jones Newswires and the Nikkei business daily reported.
China will set a daily rate based on dealer quotes with trade allowed to move within a 3% band above or below that rate, the reports said, compared with a 1% band fixed to yuan-dollar trading.
The Chinese central bank earlier Tuesday introduced a rate of 7.9480 yuan for every 100 yen, Dow Jones said.
However, there will be no fixed rates in Tokyo trade with the currencies trading freely, according to the same media reports which provided no further details.
The yen does trade freely against other major currencies on global foreign-exchange markets, including the greenback, with the dollar buying 79.50 yen in Asian afternoon trade on Tuesday.
“From June 1, the yen-yuan exchange rate will be constantly indicated in both markets, facilitating full-fledged direct exchange trading,” Finance Minister Jun Azumi told a regular press briefing.
Thursday, 31 May 2012 10:00
‘A report released by Medco Health Solutions Inc., the biggest U.S. pharmacy-benefit manager, shows that over 25% of children and teens are involved with taking prescription medications – although that number may have risen over the past couple years. Based on the company’s data from 2009, 7% of U.S. children are on a shocking two or more drugs.
Despite the alarming amount of children being fed prescription medication, many of these drugs were intended or tested for only adult use.’
Tuesday, 29 May 2012
‘If the nuclear disaster that has befallen the Fukushima Daiichi Nuclear Power plant is absolutely nothing to be concerned about, as some have nonsensically maintained despite the evidence to the contrary, why on Earth would Akio Komori, an executive at Tokyo Electric Power Company (TEPCO), refuse to allow outside experts to inspect the facility?
It is quite a simple question which should be able to be easily answered by those who continue to maintain that anyone who points out the continuing dangers and potential disaster with spent fuel pool number four is blowing the situation out of proportion.’
Tuesday, 29 May 2012
‘The highest thing you can be is unconditional love. This term has been used and misused in so many ways that it has more or less lost its meaning. Of course, it has nothing to do with a man loving a woman or vice versa, although that’s a smaller part of it. Unconditional love is a state of being, i.e. PURE SPIRIT. It’s our natural state. Everything else is illusion or arbitrary.
To even get a glimpse of what unconditional love is one must first abandon ones ego, thinking “it’s all about you”. When you are able to fully understand that we all are a part of ONE, we also know without any doubt that Unconditional Love is our state of being.’
Monday, 28 May
‘Forget saving files to flash drives and cloud servers. Now, digital information can be stored in the DNA of living organisms, thanks to a breakthrough discovery by researchers at Stanford University in California.
A trio of scientists successfully demonstrated the ability to flip the direction of DNA molecules in sample E.coli bacteria in two directions, mimicking the “1s” and “0s” of binary code, which is at the root of all modern computer calculations.’
Saturday, 26 May 2012
‘At the Group of 8 (G8) meetings this past weekend, President Obama and the leaders of the rest of the world’s richest nations abandoned their governments’ previous commitments to donate $7.3 billion a year to end hunger in Africa, after disbursing only 58 percent of the total pledge of $22 billion and giving less than 6 percent in new money they pledged three years ago.
Instead, rich nations will leave the problem in the hands of the New Alliance for Food Security and Nutrition where private corporations will invest $3 billion over 10 years — Monsanto has committed $50 million — beginning in three countries, Tanzania, Ghana and Ethiopia.’