Sex Scandal (UNI student)

Lin Jing Shan, pictured above, together with her former boyfriend Xie Xin Long, had repeatedly solicited a student Mr.Yan from Feng Chia University to engage in their threesome sex games. Each time Xie took the threesome sex photos and videos. Moreover, the pair contemplated to extort from Mr.Yan's mother. As a result, they did receive $14,000 for the three's last sex orgy on Oct 14, 2007. Lin Jing Shan and Xie Xin Long were arrested after their anther extorting intention from Yan's mother. What a shock news from Taiwan!

Source: Colorful mars & Wretch

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Singapore’s GIC sees global recession

Singapore’s biggest sovereign wealth fund said on Monday a global recession was increasingly likely but defended its multi-billion dollar bets on Citigroup and UBS as providing good long-term returns.

Sovereign wealth funds globally have poured billions of dollars into major U.S. banks reeling from writedowns linked to U.S. subprime mortgages, which have sparked a global credit crisis.

The Government of Singapore Investment Corp (GIC), which analysts estimate could manage as much as $300bn, said the financial turmoil would leave markets extremely volatile over the next one to two years.

”The financial contagion has now spread beyond U.S. shores, increasing the likelihood of a global financial crisis and recession,” Deputy Chairman Tony Tan said at GIC’s inaugural staff conference on Monday.

”We could be facing a recession which is longer, deeper and wider than any recession we have encountered in the last 30 years,” he said.

Tan made his comments at a staff conference to which the media had been invited. But, GIC declined to answer media queries.

The corporation, which says on its Web site that it manages ”well above $100bn”, rarely communicates with the media but has made efforts in recent months to be more responsive.

Source: FT.com

food emergency

The World Bank has announced emergency measures to tackle rising food prices around the world.

World Bank head Robert Zoellick warned that 100 million people in poor countries could be pushed deeper into poverty by spiralling prices.

The crisis has sparked recent food riots in several countries including Haiti, the Philippines and Egypt.

The World Bank endorsed Mr Zoellick's "new deal" action plan for a long-term boost to agricultural production.

Emergency help would include an additional $10m (£5m) to Haiti, where several people were killed in food riots last week, and a doubling of agricultural loans to African farmers.

Source: BBC News