What's going on in Egypt??

Newly appointed Vice President Omar Suleiman reached out to opposition groups in a bid to end Egypt’s unrest as demonstrators urged a million people to take to the streets today and force President Hosni Mubarak from office.
The anti-Mubarak movement received a boost yesterday from the Egyptian military, which said it recognized “the legitimacy of the people’s demands,” and promised not to fire on peaceful protests.
The announcement by Suleiman -- one of Mubarak’s closest advisers -- that he would open talks was made on Egyptian state television. Thousands of protesters erupted in cheers in Tahrir Square, the downtown plaza which honors the 1952 revolution in which the Egyptian military overthrew a constitutional monarchy and proclaimed a republic.
Opposition groups called for all Egyptians to take part in a nationwide strike.
“The people just want Mubarak to leave,” said Nabil Abdel Fattah, director of the Al Ahram Center for Political and Strategic Studies.“And making some compromises does not work with this new generation that led the uprising. What the regime is trying to do is to try and win time and go back to how it was before.”
Earlier in the day, Mubarak sought to quell unrest by appointing new Cabinet members, including Mahmoud Wagdy as interior minister to take over from Habib El-Adli, who had been denounced by the protesters. Samir Radwan, a former economist at the International Labor Organization, takes over as finance minister from Youssef Boutros-Ghali.
Government’s Priority
Suleiman, on state TV, said the government’s priority is to restore confidence in the economy and to fight corruption.
State TV later reported that the talks between the Mubarak regime and some of opponents had begun, but didn’t identify participants.
Egyptian bonds fell, pushing yields on 10-year debt to a record high, after Moody’s Investors Service lowered the country’s credit rating to Ba2 from Ba1 and the outlook to negative from stable, warning of a “significant rise in political event risk.”
The yield on the 5.75 percent notes due in April 2020 climbed 10 basis points to 7.073 percent at 6:13 p.m. in Cairo. That was the highest close since the debt was first sold in April last year.
Egypt’s stock exchange will be closed today for a third straight day, state television reported. Egypt’s benchmark EGX 30 stock index plunged 11 percent on Jan. 27, the most since October 2008.
Oil surged to the highest price in more than two years in New York and Brent crude topped $100 a barrel as a seventh day of unrest in Egypt raised concern that supplies may be disrupted.


Copy from Bloomberg

We all know that there are some political issues in Egypt, but is it important enough to affect the world's stock market? I don't think so.
Egypt Suez Canal is only way for crude oil transportation between Mediterranean and Red Sea, and there are 8% of the global oil have to transport t through the canal.  If the situation in Egypt keep going worse, the global oil transportation of the canal would be suspended, and it  would be a heavy blow to global trading activities. Therefore, there is a large-scale withdrawal of funds in stock markets, and resulting in a small drop of global stock market . The Hong Kong stock market fell around 287 points this morning!
However, I think Egypt's crisis is exaggerated. The stock market has overreacted.
First, the size of the Egyptian economy is not big. Their real GDP of 2010 is 5,000 billion, rank 27th in the global economy. The main export of Egypt is only cotton, so there is a limited impact on the global economy even if the Egyptian economy collapse.

Undeniably, the Suez Canal is one of the world's most important transportation centers, the suspension of canals will have negative impact on world's economy. However, precisely because the Suez Canal is so important to Egypt and the world's economy, whether President Hosni Mubarak, the "new government", or the United States will try to ensure the economic activity of the canal is smooth.
So, I think the problem in Egypt won't post a big impact either on the global stock market or economy.

EPL Transfers

Confirmed:
Fernando Torres
From:  Liverpool
To:       Chelsea
Fee:    50M Pounds!?

Rumors:
Andrew Carroll
From:  Newcastle
To:       Liverpool
Fee:    35M Pounds?

Sergio Agüero
From:  Atlético de Madrid
To:       Hot Spur
Fee:    38.5M Pounds?

Forlan
From:  Atlético de Madrid
To:      Hot Spur
Fee:   10M Pounds?

Kelvin is Back!

I went to Berkeley to visit my friends for the whole weekend, so I didn't update my blog. My friends and I were thinking to watch the 2011 NBA All Star Game in LA, but the tickets for the game are too expensive. Thus, we decided to watch the 3-point shootout and dunk contest instead, because the tickets are much cheaper.

Here are the participants of this year's dunk contest.

DeMar DeRozan	Toronto	G	6-7	220
Blake Griffin	L.A. Clippers	F	6-10	251
Serge Ibaka	Oklahoma City	F-C	6-10	235
JaVale McGee	Washington	C	7-0	252

Everyone who is following NBA knows that the spotlight  is on Blake Griffin, the rookie Forward of L.A. Clippers. This guy can turn all impossible dunks into a piece cake. I think he probably will win the game. Here are the top 10 dunks of Griffin this season. Hope you enjoy it.

Seems like something big is happening in Hong Kong!

Stanley Ho Confirms Resolution of Family Dispute, TVB Reports

By Sophie Leung and Marco Lui - Jan 26, 2011 4:13 PM GMT+0800

Macau gaming tycoon Stanley Ho. Photographer:Ed Jones/AFP/Getty Images

Billionaire Stanley Ho confirmed he transferred ownership of his stake in Asia’s biggest casino company to family members, which he said ends a dispute for control over a business he spent five decades building, Television Broadcasts Ltd. reported today.
The tycoon had earlier said the transfer of a 31.7 percent stake in Sociedade de Turismo e Diversoes de Macau, S.A. to five of his children and the woman he refers to as his third wife was done without his consent. STDM owns 56 percent of Hong Kong-listed SJM Holdings Ltd., according to data compiled by Bloomberg.
“The big problem has been resolved,” Ho, 89, said in an interview on TVB after a series of claims and counterclaims over what amounted to the bulk of his estimated $3.1 billion fortune. “My families and me are very happy we have made the decision.”
SJM recovered some of its losses in afternoon trading in Hong Kong after the interview was broadcast. SJM, with a market value of $9.2 billion, runs most of the casinos in the Chinese city of Macau, where gambling revenue is four times that of the Las Vegas Strip.
“I have been really unhappy recently because of the disputes, my family members were unhappy as well,” Ho said, reading a statement broadcast by TVB. “I love my families very much.”
SJM closed at HK$13.12, down 4.9 percent on the Hong Kong stock market, after earlier sliding as much as 8.8 percent.
‘Mission Accomplished’
Ho today dismissed the lawyer he had hired to contest the dispute, according to his interview on TVB.
“If they can get around the table and resolve this, it’s mission accomplished,” Gordon Oldham, who had said Ho hired him to get his stake back, said in a phone interview today.
Oldham, senior partner at law firm Oldham, Li & Nie, said he still considered himself Ho’s lawyer because he hadn’t heard from the billionaire since yesterday. “I am in a holding pattern.”
Some of Ho’s family members were meeting at the home of Chan Un-chan, whom the tycoon calls his third wife, Oldham said.
Oldham earlier said he would file a case before Hong Kong’s High Court on Ho’s behalf if the issue couldn’t be settled by tomorrow.
The transfer of the STDM stake was disclosed in a Jan. 24 statement.
Ho gave written authorization for the transfer, Brunswick Group LLP, the public-relations company representing Chan and Ho’s children Pansy, Daisy, Maisy, Josie and Lawrence, said yesterday.
Brunswick later produced a printed document on Ho’s letterhead and a handwritten letter saying he is firing Oldham and keeping the originally announced allocation of shares in the family vehicle Lanceford Co. as “100 percent” his intention. Both documents appeared to bear his signature.
The five children are by the woman Stanley Ho refers to as his second wife, Lucina Laam King-ying.
Ho was ranked Hong Kong’s 13th-richest man, with a net worth of $3.1 billion, by Forbes magazine this month.

Copy from Bloomberg

Transfer!?

Confirmed:

Real Madrid announced on their website that Emmanuel Adebayor  has agreed to move to Madrid on loan from Machester City with "a unilateral option for them to purchase the 26-year-old striker in summer.

Rumors:

1. Blackpool listed their team captain Charlie Adam for 12 Million pounds?
    Liverpool, Aston Villa and Manchester United are interested in this midfield player.
    Let's guess where will he go after this season.

2. Chelsea is trying to sign David Luiz from Benfica at 25 Million Euro in Janurary?
    David Luiz is going to have his body check in London next Tuesday.

3.  Aston Villa is trying to sign Hot Spur's England National Team midfield player Jenas?
     Aston Villa has a winning streak of 2 after signing Sunderland striker Darren Bent, they
     want to sign Hot Spur's midfield player Jenas to strengthen their team. Hot Spur listed
     this player at 10 Million pounds. Isn't it a little bit too expensive?

Glory to Manchester United!

Manchester United is unbeaten this season, and the record goes on. Blackpool threatened Red Devil for the first defeat of the season by leading two goals in the first half today. However, Manchester United came from two down to beat Backpool and keep their unbeaten record.
Dimitar Berbatov is the hero of Manchester United in this game. He scored two goals, and his secong goal snatched victory for Red Devil with his 8th goal in the last 8 Premier League matches.