Word: cash-rich
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...need for stricter control of the Puer industry became clear two years ago, when the Puer market went on a destabilizing roller-coaster ride. Some Chinese buy tea as an investment, much like Europeans buy wines. In the early part of the decade, thousands of cash-rich urbanites poured their savings into the Puer, causing prices to double, then triple. "People were buying anything," says David Lee Hoffman, a California collector. By 2007, the finest aged Puer was - quite literally - worth its weight in gold. As demand soared, however, quality suffered, fakes flooded the market and prices fell...
Caste rivalries and a fight over offerings at a cash-rich Sikh temple in Vienna echoed far and wide on Monday as sectarian violence once again erupted in India's Sikh-majority state of Punjab. At least two people have been killed and 14 injured since news reached Punjab yesterday via text messages and mobile phones that a Sikh preacher of a lower-caste sect, 57-year-old Sant Rama Nand, had been shot dead in a clash in a temple in Austria. Thousands of lower-caste Sikhs took to Punjab's streets armed with swords and batons, burning buses...
...Once shy of making major foreign investments, Beijing has gone on the prowl for resources and underpriced assets across the globe. Cash-rich Chinese companies, backed by soft loans from state banks and re-energized by lower labor costs as jobs dry up, are descending on Central Asia, Africa and even Western Europe to snap up assets. State mining company Chinalco has tabled a $19.5 billion bid for British-Australian resources giant Rio Tinto. Beijing has launched a fund to buy distressed assets worldwide, inked a deal with Brazil's Petrobras and provided Russia with a $25 billion loan...
...Concerned that cash-rich sovereign wealth funds from Asia or the Middle East could buy their way into the German financial industry, the German government has long wanted to see a second national champion created that together with the Deutsche Bank would dominate the German market...
...Obama doesn't have money problems; indeed, his campaign is so cash-rich that he reversed himself last month and declared that he will not participate in the public-financing program. He's not struggling in the shadow of an incumbent - rather, he continues to dominate free media coverage long after his epic battle with Clinton has ended. Judging from Obama's light schedule and middle-of-the-road rhetoric in recent weeks, he's looking for less coverage these days, not more...