Word: cashes
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...Still, the release is far from a done deal. It's technically possible that the meeting next week will only reduce the nurses' sentences, thereby easing some international pressure, but holding the prisoners in reserve to extract more cash or concessions from the West. But Bulgarian Prime Minister Sergei Stanishev is optimistic. Next week's ruling, he predicted "will pave the way to a political solution. " European Commission President Jose Manuel Barroso agreed: "We regret that these decisions [on the sentencing] have been taken, but I'd also like to express my confidence that a solution can be found...
...Chinese are believed to have issued the world's first paper currency around 600 A.D., and fourteen centuries later, cash remains king. Cars and houses are bought, and even salaries are often paid, with thick envelopes of bills. To date, banks have issued only slightly more than 50 million credit cards to a population of 1.3 billion, according to a recent study done by the payment processing company First Data International. Credit card debt remains minimal - 85% of cardholders pay the full balance off each month. By comparison, Americans possess 640 million cards - more than double the population - with...
...reason for this disparity is that only 4% of merchants in China even accept credit, concerned that handling fees will eat into already tiny margins. Nowhere is that more clear than Luohu Commercial City. By its very nature, such a robust trade in fake products couldn't survive without cash. Shopkeepers make change from wads of renminbi stuffed in suitcases or pockets. At the few stalls that do accept plastic, it's not without an extra fee that can range anywhere from five to 20%. When, after six hours of shopping and short on funds, I couldn't even...
...corporate sector is in far better shape than a decade ago, but allegations of cronyism under ousted Prime Minister Thaksin Shinawatra and erratic policies by the current military government have unsettled investors. Nationalism is on the rise throughout the region, reflecting a belief that there is so much cash that countries can do without foreign investment...
...Some corporate deadbeats of a decade ago are back in the market for cash-and investors are happy to stump up, at rock-bottom rates, just as they were before. The risk premium that Asian borrowers have to pay is near historical lows. It's a worrying sign of global exuberance. Ironically, Asia has played a role in stoking dangerous imbalances in the global economy. Its 'dirty-peg' currencies, which ostensibly float but in fact are controlled by central banks, have kept exports higher and imports lower than they would be otherwise. In the case of China, with...