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作者：摩根大通中国证券市场部主席李晶(Jing Ulrich)为英国《金融时报》中文网撰稿
2008年6月11日 星期三
中国A股指数周二创下2007年2月份以来最大单日跌幅，投资者对油价高企、通胀以及中国人民银行(PBOC)周末期间上调准备金率的决定做出反应。另外，一项大型首次公开发行(IPO)的前景也给市场造成了压力。
China's A-share index posted the biggest daily decline since February 2007, as investors reacted to high oil prices, inflation and a weekend decision by the People's Bank of China to raise the reserve requirement on bank deposits by a full percentage point this month. The prospect of a major upcoming IPO also weighed on the market.
基准的沪深300指数暴跌8.11%，收于3206.56点，银行及地产类股领跌。两市将近1000只个股跌停。
The benchmark CSI 300 index plunged 8.11% to 3206.56, with banks and property developers leading the decline. Almost a thousand A-share listed companies saw their share prices fall to the daily limit.
2008年6月11日 星期三
中国A股指数周二创下2007年2月份以来最大单日跌幅，投资者对油价高企、通胀以及中国人民银行(PBOC)周末期间上调准备金率的决定做出反应。另外，一项大型首次公开发行(IPO)的前景也给市场造成了压力。
China's A-share index posted the biggest daily decline since February 2007, as investors reacted to high oil prices, inflation and a weekend decision by the People's Bank of China to raise the reserve requirement on bank deposits by a full percentage point this month. The prospect of a major upcoming IPO also weighed on the market.
基准的沪深300指数暴跌8.11%，收于3206.56点，银行及地产类股领跌。两市将近1000只个股跌停。
The benchmark CSI 300 index plunged 8.11% to 3206.56, with banks and property developers leading the decline. Almost a thousand A-share listed companies saw their share prices fall to the daily limit.
英国《金融时报》艾伦 凯恩(Alan Cane)报道
2008年6月10日 星期二
全球各地的科学家都在探寻将汽车尾气余热转化为电能的方法，以降低二氧化碳排放及燃料消耗。
Scientists across the world are seeking ways to turn waste heat from motor vehicles into power, to achieve lower carbon dioxide emissions and lower fuel consumption.
位于德国弗赖堡(Freiburg)的弗劳恩霍夫协会(Fraunhofer Institute)的研究人员正在研制一种热电发电机，将汽车尾气中的余热转化为电能。该装置根据温度变化率工作：温度变化率越大，产生的电能就越多。
Researchers at the Fraunhofer Institute in Freiburg, Germany, are working on a thermoelectric generator to convertheat from car exhaust fumes into electricity. The Fraunhofer device depends on a temperature gradient: the greater the gradient, the more electricity generated.
2008年6月10日 星期二
全球各地的科学家都在探寻将汽车尾气余热转化为电能的方法，以降低二氧化碳排放及燃料消耗。
Scientists across the world are seeking ways to turn waste heat from motor vehicles into power, to achieve lower carbon dioxide emissions and lower fuel consumption.
位于德国弗赖堡(Freiburg)的弗劳恩霍夫协会(Fraunhofer Institute)的研究人员正在研制一种热电发电机，将汽车尾气中的余热转化为电能。该装置根据温度变化率工作：温度变化率越大，产生的电能就越多。
Researchers at the Fraunhofer Institute in Freiburg, Germany, are working on a thermoelectric generator to convertheat from car exhaust fumes into electricity. The Fraunhofer device depends on a temperature gradient: the greater the gradient, the more electricity generated.
英国《金融时报》约翰 阿格里昂比(John Aglionby)雅加达、罗尔 兰丁金(Roel Landingin)马尼拉报道
2008年6月6日 星期五
印尼和菲律宾央行昨日将基准利率上调25个基点，成为决策者正在努力遏制通胀不断飙升的最新迹象。通胀飙升是由石油和食品价格飞升造成的。
Central banks in Indonesia and the Philippines increased benchmark interest rates by 25 basis points yesterday. It is the latest sign of policymakers attempting to contain soaring inflation driven by skyrocketing oil and food prices.
菲律宾将基准利率调升至5.25%，是该国3年来首次加息。此前几个小时，菲律宾政府宣布，同比通胀率已触及9.6%的9年高位。
Manila’s move, which took rates up to 5.25 per cent, was the first in three years. It came hours after the government announced year-on-year inflation had hit a nine-year-high of 9.6 per cent.
2008年6月6日 星期五
印尼和菲律宾央行昨日将基准利率上调25个基点，成为决策者正在努力遏制通胀不断飙升的最新迹象。通胀飙升是由石油和食品价格飞升造成的。
Central banks in Indonesia and the Philippines increased benchmark interest rates by 25 basis points yesterday. It is the latest sign of policymakers attempting to contain soaring inflation driven by skyrocketing oil and food prices.
菲律宾将基准利率调升至5.25%，是该国3年来首次加息。此前几个小时，菲律宾政府宣布，同比通胀率已触及9.6%的9年高位。
Manila’s move, which took rates up to 5.25 per cent, was the first in three years. It came hours after the government announced year-on-year inflation had hit a nine-year-high of 9.6 per cent.
英国《金融时报》杰夫 代尔(Geoff Dyer)北京报道
2008年6月5日 星期四
随着国际价格飙升，石油公司减少对价格固定的本土市场的供应，中国主要城市的燃料供应趋紧。
China’s main cities are beginning to face growing fuel shortages as oil companies cut supply into the fixed-price local market in response to sky-rocketing global prices.
过去一周，北京、上海和广州加油站的供应短缺现象（特别是柴油）均告恶化，迫使它们实行定量配给，或是缩短运营时间，一天只运营几个小时。
Over the past week, petrol stations in Beijing, Shanghai and Guangzhou have reported worsening supply shortages – especially of diesel oil – which has forced them either to ration their stocks or operate for only a few hours a day.
2008年6月5日 星期四
随着国际价格飙升，石油公司减少对价格固定的本土市场的供应，中国主要城市的燃料供应趋紧。
China’s main cities are beginning to face growing fuel shortages as oil companies cut supply into the fixed-price local market in response to sky-rocketing global prices.
过去一周，北京、上海和广州加油站的供应短缺现象（特别是柴油）均告恶化，迫使它们实行定量配给，或是缩短运营时间，一天只运营几个小时。
Over the past week, petrol stations in Beijing, Shanghai and Guangzhou have reported worsening supply shortages – especially of diesel oil – which has forced them either to ration their stocks or operate for only a few hours a day.
作者：英国《金融时报》史蒂夫 约翰逊(Steve Johnson)
2008年6月4日 星期三
一家对冲基金想出了一个极具创意的方法，以利用美国房地产市场大跌的机遇。加州是此次受打击最重的地区之一，而该基金在此买入了大量被放弃的开发用地。
A hedge fund has come up with an innovative way of capitalising on the US housing market crash, buying tracts of abandoned development land in California, one of the states hardest hit by the downturn.
Three Arch Investors旗下“加州问题土地基金”(California Distressed Land Fund)的基金经理戴维 米切尔森(David Michelson)表示，房价在过去一年中下跌了将近20%，而土地价格的跌幅近80%。
While house prices have fallen by a little under 20 per cent over the past year, land prices have slumped by almost 80 per cent, according to David Michelson of Three Arch Investors, manager of the California Distressed Land Fund.
2008年6月4日 星期三
一家对冲基金想出了一个极具创意的方法，以利用美国房地产市场大跌的机遇。加州是此次受打击最重的地区之一，而该基金在此买入了大量被放弃的开发用地。
A hedge fund has come up with an innovative way of capitalising on the US housing market crash, buying tracts of abandoned development land in California, one of the states hardest hit by the downturn.
Three Arch Investors旗下“加州问题土地基金”(California Distressed Land Fund)的基金经理戴维 米切尔森(David Michelson)表示，房价在过去一年中下跌了将近20%，而土地价格的跌幅近80%。
While house prices have fallen by a little under 20 per cent over the past year, land prices have slumped by almost 80 per cent, according to David Michelson of Three Arch Investors, manager of the California Distressed Land Fund.
英国《金融时报》艾米 卡兹明(Amy Kazmin)曼谷报道
2008年6月3日 星期二
越南的外国商界人士警告称，通胀的迅速抬头、劳动力不稳定局面加剧和房地产泡沫，可能侵蚀这个共产党领导国家作为投资目的地的吸引力。
Vietnam’s foreign business community is warning that rapid inflation, growing labour unrest and a real estate bubble could erode the Communist-ruled country’s appeal as an investment destination.
在6月2日召开的越南政府和外国商界年度会议上，越南美国商会(American Chamber of Commerce)主席迈克尔 皮斯(Michael Pease)呼吁越南政府迅速采取行动，恢复宏观经济稳定。
At the annual meeting of the country’s authorities and members of the foreign business community on the 2 June, Michael Pease, chairman of the American Chamber of Commerce in Vietnam, will appeal to Hanoi to act quickly to restore macro-economic stability.
2008年6月3日 星期二
越南的外国商界人士警告称，通胀的迅速抬头、劳动力不稳定局面加剧和房地产泡沫，可能侵蚀这个共产党领导国家作为投资目的地的吸引力。
Vietnam’s foreign business community is warning that rapid inflation, growing labour unrest and a real estate bubble could erode the Communist-ruled country’s appeal as an investment destination.
在6月2日召开的越南政府和外国商界年度会议上，越南美国商会(American Chamber of Commerce)主席迈克尔 皮斯(Michael Pease)呼吁越南政府迅速采取行动，恢复宏观经济稳定。
At the annual meeting of the country’s authorities and members of the foreign business community on the 2 June, Michael Pease, chairman of the American Chamber of Commerce in Vietnam, will appeal to Hanoi to act quickly to restore macro-economic stability.
英国《金融时报》哈维尔 布拉斯(Javier Blas)罗马报道
2008年6月2日 星期一
联合国粮农组织(Food and Agriculture organisation)总干事雅克 迪乌夫(Jacques Diouf)估计，要帮助解决全球粮食危机，富国必须将农业援助增加10倍，至每年300亿美元。
Rich countries must increase their aid to agriculture by 10 times to $30bn a year to help resolve the global food crisis, the United Nations’ top agriculture official reckons.
迪乌夫表示，25年来，创纪录的价格首次给激励农业投资带来了根本的政经动机。
Jacques Diouf, director-general of the UN’s Food and Agriculture organisation, said that for the first time in 25 years record prices were providing the fundamental economic and political incentives to stimulate investments in the agricultural sector.
2008年6月2日 星期一
联合国粮农组织(Food and Agriculture organisation)总干事雅克 迪乌夫(Jacques Diouf)估计，要帮助解决全球粮食危机，富国必须将农业援助增加10倍，至每年300亿美元。
Rich countries must increase their aid to agriculture by 10 times to $30bn a year to help resolve the global food crisis, the United Nations’ top agriculture official reckons.
迪乌夫表示，25年来，创纪录的价格首次给激励农业投资带来了根本的政经动机。
Jacques Diouf, director-general of the UN’s Food and Agriculture organisation, said that for the first time in 25 years record prices were providing the fundamental economic and political incentives to stimulate investments in the agricultural sector.
英国《金融时报》Lex专栏
2008年5月30日 星期五
美国的房地产市场到底有多糟糕？广受关注的标准普尔/Case-Shiller房价指数看上去很恐怖。该指数最新数据显示，房价正在加速下滑，今年一季度同比下跌14%，较2006年的峰值下跌逾16%。相比之下，联邦住房企业监督办公室(Office of Federal Housing Enterprise Oversight)的数据显示，房价在繁荣时期的涨幅没有那么高，在2007年到达峰值，此后已下跌约4%。全美房地产经纪人协会(National Association of Realtors)的数据位于两者之间。
Just how bad is the US housing market? The widely followed S&P/Case-Shiller index looks horrible. Its latest figures show prices accelerating downwards. They fell over 14 per cent year-on-year in the first quarter and are down more than 16 per cent from their 2006 peak. Contrast that with data from the Office of Federal Housing Enterprise Oversight that showed prices appreciating less rapidly during the boom and peaking in 2007 – since when they have fallen about 4 per cent. Figures from the National Association of Realtors are somewhere in between.
2008年5月30日 星期五
美国的房地产市场到底有多糟糕？广受关注的标准普尔/Case-Shiller房价指数看上去很恐怖。该指数最新数据显示，房价正在加速下滑，今年一季度同比下跌14%，较2006年的峰值下跌逾16%。相比之下，联邦住房企业监督办公室(Office of Federal Housing Enterprise Oversight)的数据显示，房价在繁荣时期的涨幅没有那么高，在2007年到达峰值，此后已下跌约4%。全美房地产经纪人协会(National Association of Realtors)的数据位于两者之间。
Just how bad is the US housing market? The widely followed S&P/Case-Shiller index looks horrible. Its latest figures show prices accelerating downwards. They fell over 14 per cent year-on-year in the first quarter and are down more than 16 per cent from their 2006 peak. Contrast that with data from the Office of Federal Housing Enterprise Oversight that showed prices appreciating less rapidly during the boom and peaking in 2007 – since when they have fallen about 4 per cent. Figures from the National Association of Realtors are somewhere in between.
