Latest android nav app puts another nail in dedicated - Ford DVD Navigation System Manufacturer

After launching in January for iOS only, mobile navigation maven Telenav is giving Google some loveby making its Scout app available for Android devices. And the app for both platforms now integrates with FordSync s AppLink . As with the iOS version, the Android Scout app is available as afree 30-day trial and provides mapping, voice-guided turn-by-turndirections, voice recognition and limited local search. The premiumversion of the Scout Android app is a pricey $24.99 per year or$4.99 per month, adding traffic info, automatic rerouting, speedtrap and traffic camera locations, lane assist and speed limitalerts.

And it s the only way to get a new feature called CarConnect that enables it to work with Ford's Sync AppLink. Starting today, Scout on an Apple and Android device will integratewith AppLink so that drivers can access the app using the car svoice commands and controls to input destinations, perform localsearches, hear directions through the car s speakers and see turnby turn prompts on the radio display. We feel that Scout adds aton of value for people to be able to use the same app in and outof the car, Mark Scalf, Telenav s director of products, toldWired. Someone can plan a trip on their computer, immediatelyaccess their saved information on the mobile app and now getturn-by-turn directions in Fords. This multi-screen approach breathes new life into antiquatedin-dash navigation systems, and may be less expensive than buying anew but already outdated mapping DVD from automakers furtherproof that the dedicated portable nav system is dead.

Telenav s goal with Scout is to rise above the fray of smartphone navigation apps byincorporating social media and enhanced search elements. Inaddition to showing and telling you where you want to go viavoice-guided, turn-by-turn directions, the app is integrated withTelenav s Scout.me Beta website to help users not only find what they re looking for, butalso what s happening in the area that they may not otherwise knowabout. When testing the app, for example, we found out that PokeyLaFarge and the South City Three were playing at a nearby hotellounge, which meant we could see the band up close and for freeinstead of arriving early at a Jack White concert where they werethe opening act.
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New rules aimed at reducing risk of local government bondsineffective - Reef Aquarium Light

News, page 4, issue 463, April 2, 2010 Translated by Tang Xiangyang Polished by Rose Scobie Original article: [ Chinese ] A notice titled, "Standard Notice to the State Council Pertainingto Problems Related to Providing Direct or Indirect Guarantees forLocal Governments and Financing Platforms," has been submitted tothe State Council. The notice was drafted by the Ministry ofFinance (MOF) and signed by the National Development and ReformCommission (NDRC) and related departments. According to a sourceclose to the MOF, there is still much debate over what impact thenew rules will actually have. The notice forbids local governments and public institutions fromproviding direct or indirect guarantees for enterprises or localfinancing platforms.

Since over half of the debts used by localgovernments to promote urban construction (known as urbanconstruction bonds, ) are directly or indirectly guaranteedby local governments and public institutions, the notice has shakenmarket faith in the quality of these bonds. However, a source toldan EO reporter, if the issuance of bonds is carefully consideredand supervised, the risks can be controlled. A source close to theNational Development and Reform Commission also confirmed that theNDRC is actually accelerating the process of issuing such bonds. Issuing of Bonds Will Not Be Effected Both the MOF and NDRC have continually warned of the potentialrisks associated with urban construction bonds.

But according tothe above source, even within the MOF and NDRC some people stillconsider the bonds to be a reasonable financing channel, thoughthey agree that the risks need to be strictly managed. The NDRC intensified supervision of the issuing of urbanconstruction bonds since the end of last year, requiringprefecture-level cities to issue only one such bond and provincialcapitals to have no more than two. Officials with the NDRC haverepeatedly issued public statements warning against the risksassociated with the bonds. The above measures have led the NDRC to believe that the risksassociated with such debt instruments can be controlled. In fact, from the issuance of urban construction bonds, our sourcerevealed, we can see from the current process by which qualifiedurban construction bonds are approved, that the approval processhas been sped up, so much so that bonds left unaproved last yearhave already entered the approval process this year. 3W Led Grow Light

An insider said, more than 100 urban construction bonds issuancesmay take place this year. China's Banking Regulatory Commission (CBRC), along with the MOFand related agencies under the State Council, have beeninvestigating local financing platforms and coordinating with localgovernments in order to prevent and control risks. Currenly, their a four types of local government debt instrumentsthat are being audited and cleaned up: bonds issued by publicinstitutions that have been subsidized by local governments , bondsissued by local financing platforms to support public projects thatrely on the injection of government funds to be paid off; bondsthat are issued by local financing platforms to construct publicprojects that raise a steady cash flow and rely mainly on profitsto be paid off and debts issued by local financing platforms toconstruct competitive projects. According to an insider, the MOF's plan to reorganize existingfinancing platforms aims to eliminate those local platforms thatprovide financing for public projects but bear no responsibilityfor construction and rely mainly on fiscal revenue in order to meettheir debt obligations. After the reorganization, the MOF alsoplans to standardize those local financing platforms that financepublic projects but that have a steady revenue stream that they candepend on to pay off their debts, along with those platforms thatmainly provide financing for competitive businesses. Reef Aquarium Light

These twokinds of financing platforms will also be prohibited from relyingdirect or indirect guarantees from local governments to raisefunds. Risk from Bank Loans Even Greater It's widely believed among regulators, market participants andcredit rating agencies that local financing platforms are mostexposed to risk in terms of bank loans. Debt researchers of securities firms are still recommendingexisting urban construction bonds to investment agencies and thefixed income departments of some funds and securities firmscontinue to favor investing in these urban construction bonds. After the MOF announced that it would standardize local financingplatforms, the secondary bond market entered a period of "wait andsee". China Waterproof Aquarium Light

At the time of the MOF's announcement, a bond manager of afund company located in Beijing said he had no idea about whetherto buy or sell urban construction bonds. But presently, everyone is still relatively optimistic about theprospects of urban construction bonds. The debt manager mentionedabove has resumed buying the bonds. The risks of local financing platforms have gained the attention ofStandard and Poor's (S&P), a company which specializes infinancial market ratings, which warned in a recent report that inthe climate of readily available credit, a proportion of theselocal financing platforms had raised capital to fund publicconstruction projects, and this may have led to the creation of amassive amount of bad loans.

The S&P report emphasised that most of the risk wasconcentrated in loans acquired by these local financingplatforms.This view was echoed by an analyst at a securities firmwho said in terms of the concentration of risk and amount of fundsinvolved, urban construction bonds are much less risky than thebank loans. China's Banking Regulatory Commission (CBRC) has also urged allbanking institutions to guard against and control loan risksaccumulated through financing local government constructionprojects and has required banking institutions to completelyevaluate and effectively guard against risks concerning localgovernment financing platforms, and to intensify their follow-upsupervision on loans. The CBRC is also urging banks to co-issueloans to limit the degree of risk concerning large-scale andhighly-concentrated loans. The CBRC also requires banks to obey three rules when providingloans for local financing platforms: First, bundled loans areprohibited; second, credit agreements signed with local governmentsconcerning a large amount of money without outlining specifiedprojects are prohibited; third, banks should strictly restrictproviding loans to financing platforms with no real capital,management structure, internal control, risk management, strongcapital supervision system, or strict loan restrictions.Additionally, the CBRC urges banks to immediately make a concreteagreement with financial platforms to safeguard against risk.

Push to get 6,000 coes to pay dividends to ministry of finance - Herbal Sex Pills Manufacturer

News,Cover,Issue 484, August 23 Translated by Tang Xiangyang Original article: [ Chinese ] The Ministry of Finance (MOF) is soliciting opinions from 82ministerial agencies in a bid to win support for their plan tostart collecting dividends from the over 6,000 central-ownedenterprises (COEs) that currently operate under the control ofvarious central government ministries and departments. China's COEs can be divided into two categories: The first are the123 COEs currently under the control of the State Council'sState-owned Asset Supervision and Administration Commission (SASAC)- the central government has plans to reduce the number of thesecompanies to between 80 and 100 by the end of the year. The othercategory of COEs includes those that are directly under the controlof certain central government ministries, agencies or departments. According to an anonymous source with the MOF, this project ispredicted to get approval from the State Council and moreministerial COEs will hand in profits next year. This move isunlikely to result in a large increase in the amount of dividendsbeing collected, rather it is being interpreted as a show of thecentral government's determination to better regulate themanagement of all COEs and to ensure that all COEs are treatedequally, Wen Zongyu, director of the Ministry of Finance sScientific Economic Research Institute, said.

Ministry Opinions Differ The above official with the MOF told an EO reporter, aftersoliciting opinions in August, The Ministry of Finance will talkwith ministries one by one about their respective feedback. ThoseCOEs affiliated with ministries will not start to be covered by thepolicy one by one, but ministry by ministry. For example, if wehave a successful discussion with the Ministry of Agriculture, thenall the COEs under its authority will be subject to the policy. Over 100 COEs under SASAC along with China National TobaccoCorporation and China Post have already placed their dividends intothe national, state-owned capital operation budget. Now the MOF istaking the lead to bring COEs under ministry control into the scopeof this new policy.

It s a tough job. Those COEs with a good business performanceare unwilling to be subject to the policy while the COEs who arewilling are all losing money. The remaining COEs are in complexsituations because of the current COE management system, thesource with the MOF said. Over the past few months, the MOF and the NDRC held many talks withministries about the policy before they formally solicited theiropinions. Herbal Slimming Coffee

An official with the MOF disclosed that after feedback is provided,the MOF will find out which ministries are willing to be includedin the plan, which are not and why, and whether such a reluctancecan be solved or not. Then it will hold more talks based on thisinformation. According to reports, the NPC, the MOF and the NDRC have all agreedto have more COEs hand in their dividends to the MOF, but there aremany different attitudes towards the plan among central governmentministries. Those ministries such as the Ministry of Agricultureand the Ministry of Railways, are willing to be included in theplan as long as they receive a subsidy. Although all the COEsunder the Ministry of Railways are big enterprises, they areactually losing money, Wen Zongyu said. Herbal Sex Pills Manufacturer

Profitable COEs are attempting every means possible to avoid beingcovered by the plan. Wen said, among ministry affiliated COEs,movie companies, TV stations, publishing agencies and videocompanies were big money-makers, but it is not easy to have themincluded because these COEs are linked with censorship bureaus andinclusion represents a conflict of interest between ministries. More COEs are obstructed by the current management system.According to Wen Zongyu, though the Ministry of Education has manyenterprises under its scope, most of them were started up byuniversities and research institutes. For example, the well-knownTsinghua TongFang and Tsinghua Ziguang companies are tied toTsinghua University and are both listed on the A-share market. China Japan Lingzhi Slimming Tea

Ifthe MOF wants to collect dividends from these two companies, it hasto go through their parent company: Tsinghua Asset Group. TongFang and Ziguang have relatively high profits. However,Tsinghua Asset Group has many other subsidiaries. If all of itssubsidiaries were to be integrated, it is possible that the Groupwould no longer profit and thus would not have any dividends tohand into the Ministry of Finance. Officials with the Ministry of Finance said, COEs under theMinistry of Education need further evaluation before being requiredto hand in profits because they are connected to public institutessuch as universities and research institutions.

Financial COEs have been considered to be a main target of thispolicy because they are able to make huge profits. But it isunlikely they will be included this year. According to officialswith the MOF, although financial COEs are big money-makers, theyare managed in a special system. An official with the MOF said: For example, all the commercialbanks are operating under the joint-stock system.

You may only gettheir profits through their investor: The China InvestmentCorporation (CIC). But the CIC actually has no money. It financesitself through issuing state bonds that it has to pay back one day.How can we collect profits from these types of COEs? This methodcan only be successful after this system is reformed. The China Post has been included among the ranks of COEs to paydividends to the MOF because it recently underwent a systemicreform integrating its postal businesses including mailing,publishing, currency exchange, logistics and stamp issuance and isnow under the authority of the State Post Bureau. Too Low a Ratio According to statistics provided by SASAC, from January to July,COEs have earned 755.8 billion yuan in profit, among which, COEsunder SASAC gained 619.2 billion yuan while ministry affiliatedCOEs earned 136.5 billion yuan, only accounting for 18 percent ofthe total.

When the SASAC was founded in 2003, 189 COEs were put under itsadministration. They are all big money-makers, Wen Zongyu said.The remaining COEs were divided into three categories. The first isformer public institutes; the second is enterprises founded byassociations unwilling to be managed under SASAC, such as theenterprises under the All-China Women s Federation and the thirdcategory is small-scale COEs who have been suffering from heavylosses. Wen Zongyu said, though there are now many COEs affiliated withministries, most of them have a poor performance record and aresuffering losses. They would not bring a large amount of dividendsto the MOF even if they were covered by this policy.

Over the past three years, the MOF has collected a total of 157.22billion yuan in dividends from these companies, but only about onebillion yuan of these funds has added to the MOF s revenue, therest has been ploughed back in to the expansion of the COE sector. Wen Zongyu said, even among those 128 COEs that were required topay profits to the MOF now, only 20 monopolies were actuallyhanding in their dividends. The others were paying either verysmall profits or nothing at all. With COEs earning more and more profits, the attempt to expand thescope of the state-owned asset operation budget and to increase theamount of profits COEs pay the MOF have been intensified.

Thistopic of expansion was discussed in this year s CPPCC (ChinesePeople s Political Consultative Conference) and NPC (NationalPeople s Congress). The MOF has also made including developed COEs that are ministryaffiliated in the state-owned asset operation budget one of its keyjobs for the second half of this year. Jia Zhan, director of theMOF s enterprise department, said that, aside from expanding thecoverage of the new plan, they would raise the dividend ratio COEsmust pay to the MOF. Since 2007, most of the country's COEs have been required to passon between 5 and 10 percent of their dividends to the SASAC everyyear.

In 2008, they handed in 7.9 percent of their profits to theMinistry of Finance; in 2009, they handed in 9.5 percent. Generally speaking, the ratio is too low. We are going to adjustit based on NPC requirements, Jia Zhan said. Wen Zongyu said both the government and academic circles consideredit necessary to raise the ratio. After the adjustment, thedividend ratio paid by COEs with an industry monopoly will beraised from 10 percent to somewhere between 25 and 35 percent.

Theratio for competitive COEs will be lifted from 5 percent tosomewhere between 8 and 10 percent. I believe this is not a veryhigh ratio. This article was edited by Rose Scobie and Paul Pennay.