Gifts for the Greeks:China to the Rescue

Fools rushed in where Angels fear to tread.

But is it in this case? Do the Chinese know something that the world doesn't?

Or they playing Russian roulette?

China offered today to buy Greek government bonds in a show of support for the country whose debt burden triggered a crisis for the euro zone and required an international bailout.

Premier Wen Jiabao made the offer at the start of a two-day visit to the crisis-hit country where he says he expects to expand ties in all areas.

“With its foreign exchange reserve, China has already bought and is holding Greek bonds and will keep a positive stance in participating and buying bonds that Greece will issue,” Wen said, speaking through an interpreter.

“China will undertake a great effort to support euro zone countries and Greece to overcome the crisis.”

Greece needs foreign investment to help it fulfil the terms of a €110 billion (RM463.13 billion) bailout. This rescued it from bankruptcy in May but also imposed strict austerity measures, deepening its recession.

Greece, which has been raising only short-term loans in the debt market, has said it wants to return to markets some time next year to sell longer-term debt, although the EU/IMF package allows it to wait until 2012.

“I am convinced that with my visit to Greece our bilateral relations and cooperation in all spheres will be further developed,” Wen told Greek Prime Minister George Papandreou earlier in the day.

Greece and China pledged to stimulate investment in a memorandum of understanding and private companies signed a dozen deals in areas like shipping, construction and tourism.

Isn't China playing its overdue role in helping globalisation to prosper?

I think so.

Casual, Part-time or Full-time

Effectively on October 1, part-time workers will be legally defined as those who work between 30% and 70% of full-time employees' working hours.

They will also be eligible for incentives in the form of insurance and other rights such as annual leave, sick leave and rest day as well as overtime pay.

As an example-

 "If the normal working hour is eight hours a day, for part-time workers, their working hour is between 2.4 hours and 5.6 hours a day."

As with most things, there are exclusions.

Employees working from home or those involved in tele-working (telecommuting) is not included.

This move is expected to attract some 6.8 million latent workforce comprising mostly  housewives, including single mothers, university students, retirees as well as the disabled into the labour market.

Those working less than 30% of the normal working hours are defined as casual workers and not included under the new regulations.

As for those working more than 70% of the normal working hours, they are considered full-time workers and covered under the Employment Act 1955.

"The reason for this is we want to avoid people who work casually to come under the ambit of this regulation as this would create problems for the employers.

On the issue of rest days, part-time workers are eligible for it if they work at least five days or 20 hours a week and they are also entitled to the Employees’ Provident Fund and SOCSO coverage on a pro rate basis.

So, for those who are working from 30% and 70% of normal working hours,do know your rights under
the new Work Regulations (Part Time Workers) 2010.

Combustion Engine Breakthrough?

A car powered by compressed air. Interesting.

Sounds too good at first glance. Questions like this one will definitely be asked- 'What kind of efficiency do you get for converting electrical energy to mechanical energy, then to energy stored in compressed air and then back into mechanical energy?  Are Indian electricity costs subsidised?'

Tata Motors is ready to introduce Air Car - Will it be the next big thing?
      

Developed by ex-Formula One engineer, Guy Negre, Tata is on-stream to produce the first commercial air-powered vehicle, 'The Air Car'for Luxembourg-based MDI.

It uses compressed air, as opposed to the gas-and-oxygen explosions of internal-combustion
models, to push its engine's pistons.  Some 6000 zero-emissions Air Cars are scheduled to
hit Indian streets by August 2010. [Is this old fodder?]
      

The Air Car, called the "MiniCAT" could cost around Rs. 3,475,225 (RM8,177.00) and refuels after every 300 kilometres. Per refill cost is only Rs. 85 (RM2.00)

What exactly is the MiniCAT? In gist, it is a simple, light urban car, with a tubular chassis that is glued, not welded, and a body of fiberglass powered by compressed air.

Microcontrollers are used in every device in the car, so one tiny radio transmitter sends instructions to the lights, indicators, etc.

There are no keys - just an access card which can be read by the car from your pocket. 

According to the designers, it costs less than 50 rupees per 100 Km (about a tenth that of a petrol car).  Its mileage is about double that of the most advanced electric car (200 to 300 km or 10 hours of driving), a factor which makes a perfect choice in cities where 80% of motorists drive at less than 60 Km.  The car has a top speed of 105 Kmph.
     
Refilling the car will, once the market develops, take place at adapted petrol stations to administer compressed air.

In two or three minutes filling time, the car will be ready to go another 200-300 kilometers.

As a viable alternative, the car carries a small compressor which can be connected to the mains (220V or 380V) and refill the tank in 3-4 hours.

Due to the absence of combustion and, consequently, of residues, changing the oil (1 litre of vegetable oil) is necessary only every 50,000 Km).

The temperature of the clean air expelled by the exhaust pipe is between 0-15degrees below zero,which makes it suitable for use by the internal air conditioning system with no need for gases or loss of power.

Will the Air Car revolutionise motoring forever?

English-Fast and Easy

I have just finished reading an illustrated English book.

Written by Marianna Pascal,an international teacher teaching English as a second language,this book is really a primer for those who wants to quickly learn the contextual use of the language in everyday situations.

This book is mostly of English expressions and phrasal verbs. It makes interesting reading and the illustrations and sample dialogues are not only effective but amusing as well.

I recommend this book for those in lower secondary schools as well as adults.

The Artistic Side of Adolf

The person who painted these pictures below wanted to attend the Viennese Academy of Fine Arts to become  famous as an artist.  If he had been accepted by the academy, world history would have been much different. 

His name was Adolph Hitler.

Captains of Hope

The new projects in the trillions to be launched to make Malaysia an advanced country included an assortment of projects ranging from a high speed train to a potential casino integrated resort in Karambunai, Sabah.

Captains of industry such as these are looking forward gloatingly to amass more wealth for the company and themselves in the process.

Question is-who is going to fund these high octane projects? The EPF? Woe betide us!

We need to call the Ghosbustsers !

High Speed Rail to Singapore

The Government of Malaysia has resurrected the High Speed Rail (HSR)project to Singapore again.

Same song. Old wines in new bottles.

I do hope this time it will be for real and not another pipe dream rainbow-chasing  wish.

According to an Economic Transformation Programme (ETP) unveiled today, this high speed link will connect Penang, KL and Singapore.

A feasibility study will be conducted on the HSR system by January 2011.

“We are looking at speeds of about 280km per hour,” said Ahmad Suhaimi, the deputy lab leader for Greater KL at the ETP open house here today.

According to information provided by the lab, the door to door journey from KL to Singapore will take about 2.4 hours as opposed to 3 hours by air.

An intercity service to Seremban, Ipoh, Ayer Keroh, Muar and Batu Pahat has also been proposed.

So these intercity stops will boom if this project takes off at all.