INTERNET: A Chinese man opens the waltz of IPOs social media

It moves to the front of social media in China. While Facebook negotiate its presence in the former Middle Kingdom, a local actor made a great leap forward stock. RenRen, the main social network made in China with 140 million users, arrived on Wall Street Wednesday. This "Chinese Facebook" even became the first player in the social web in the world to put both feet on the financial markets.

And the operation looks juicy. The IPO, which will be sealed off Thursday, RenRen must value to nearly $ 5 billion, or 67 times the real income of the company (77 million in 2010). A large gap which must be the envy of the little world of social media. Even Facebook can not generate such enthusiasm.The market value of the king of this universe 2.0 is estimated at nearly $ 70 billion or "only" 25 times its revenues. What then explains the success of RenRen? It is in three words: Facebook, Social Media and China.

The comparison with the American big brother does not stop only at the social network dimension. Like Facebook, the Chinese site was created in December 2005 as a portal for students. Subsequently, he conquered a wider audience, led by its CEO Joe Chen who copied each feature of Facebook (Connect, Places, Groups etc..).

Still, differences exist. First, the site must comply with the state censorship and will probably never be a vehicle for revolution as Facebook could be in Arab countries.RenRen but is also much less dependent on advertising, which represents only 40% of its revenues against 70% for Facebook. The rest comes home games that are a hit among users of the site.

The first in a long series

And RenRen is Chinese. "The company may be overvalued, but people will buy shares whatever happens [because it is Chinese]," said Darren Fabric, the director of an investment fund in Chicago on Tuesday Bloomberg . The dozen Chinese companies new technologies that have an IPO in recent months have all passed their time.The course of some companies - such as the Chinese equivalent of Dangdang Amazon - even won 50% in a few days after their initial quotes.

Investors are also attracted by the growth potential of RenRen. The social network has won 19% of new entrants in a year. And with a population of 400 million Chinese Internet users, has yet RenRen margin.

Finally, everything related to social media seems to hold gold in the eyes of investors. So much so that a true bubble seems to have formed the Silicon Valley (American mecca of new technologies).RenRen as a leading player in this sector to do its IPO, carries the hopes of all those who bet on social media.

After RenRen, other groups known to Western audiences more, must soon pass not turn the stock market. The professional social network LinkedIn, the giant video game on Facebook's site Zynga and bulk purchase Groupon are expected on Wall Street this year. The head honcho of the sector, Facebook, has hinted that he contemplated an IPO until next year

SPECULATION: Banks fingered in rising food prices

The food market would be better off without the investment banks? Undoubtedly, "replied the British NGO World Development Movement (WDM) - the equivalent of Transparency International for all economic development issues - which on Tuesday released a new study of the impact of speculation on rising food prices whose level reached today than in 2008, during the riots. "Banks have depleted plunged into famine and millions of people in developing countries," says FRANCE 24's and Murray Worthy, head of WDM strategies.

Since the financial crisis, banks have certainly become easy targets, but figures provided by the NGOs are talking.British bank Barclays, for example, collected 383 million euros in 2010 by simply betting on rising food prices. "It's an estimate that we made from public figures from Barclays Capital [the investment bank Barclays, Ed] and data market," said Murray Worthy. Barclays declined to respond to these assertions.

This taste of the British bank for speculation in these markets has no equal in Europe. Only U.S. banks Goldman Sachs and Morgan Stanley are the strongest.Thus, according WDM, Goldman Sachs dominates this small world of speculators with a billion dollars (684 million) collected per year in these markets.

After the subprime

Speculation on food are certainly since the early 20th century, but has reached dangerous levels at the dawn of the 2008 food crisis. In 2003, she was indeed the order of $ 3 billion per year ... against 55 billion in 2008, said Olivier De Schutter, the UN special rapporteur for the right to food. "2011 should be another record year," warns Murray Worthy.The amount of speculative trading on commodity markets (food, energy, metals) is expected to reach $ 400 billion this year, against 300 billion in 2008, the UN says.

The appetite of investment banks for food grew after the collapse of the subprime bubble. "They have sought a new home which was not yet regulated in which to invest too quickly," Murray decrypts Worthy.They were then reminded that the U.S. had deregulated the marketing of foodstuffs in the early 2000s.

Bubble

Barclays Capital, Goldman Sachs and others have then imported and developed financial products that made the heyday of the U.S. housing market ... before driving to his loss. "These banks have transformed the property market is often vital for people in financial market," laments Murray Worthy. Barclays Capital has even created the equivalent of CDOs ("Collateralized Debt Obligation") for raw materials, these highly sophisticated financial products which have played an important role in the subprime crisis.They allowed players who have no connection with the purchase and sale of maize, wheat and other grains - such as pension funds - to invest their money in these markets, denounces World Development Movement.

The NGO acknowledges that speculation is only one element among many of soaring food prices. The OECD estimates that the weather conditions, the development of biofuels and the current instability of the Arab countries have a greater impact. But for WDM, speculation escape increasingly out of control. "The bubble is now grow very quickly," warns Murray Worthy.The NGO estimated that it would limit the amounts that banks can invest in the markets for food products and better frame the nature of transactions. Recommendations already made by the European Commission in 2008 ...

YEMEN: The ruling party accepts the plan to end the crisis in the Gulf monarchies

AFP - The ruling party in Yemen has accepted the plan to end the crisis presented by the Gulf monarchies to provide a starting within weeks of President Ali Abdallah Saleh, to whom the United States immediately asked to begin "immediately" political transition.

"The General People's Congress (GPC, in power) and its allies have accepted the initiative of the Gulf Cooperation Council (GCC) in its entirety," he told AFP Sultan al-Barakani, Deputy General Secretary of the GPC and Head of the parliamentary bloc of the party.

To overcome the crisis, the GCC has proposed forming a national unity government, then a transfer of powers by the Head of State in Vice-President and stop the demonstrations.

The President should then submit his resignation within 30 days, and a presidential election would take place 60 days later.

On Friday, Mr. Saleh, whose term runs until 2013, had said he welcomed the plan but reiterated that it would sell the power in an orderly and constitutional.

The United States, which have been implicated along with European countries in the negotiations for a settlement of the crisis, have pressed Mr.Saleh, their ally in the fight against terrorism, to begin "immediately" the political transition.

"President Saleh has publicly expressed its willingness to engage in peaceful political transition," assured Mark Toner, a spokesman for the U.S. State Department, adding that "the timing and form of this transition must be determined so concerted and start immediately. "

"All parties need to really participate, including young people, in a transparent process that addresses the legitimate concerns of the Yemeni people, their political and economic aspirations and their calls to bring to justice those who quickly suppress the demonstrations by the violence," Mark Toner yet assured.

The parliamentary opposition, the Common Front, agreed on Saturday plan to end the crisis in the Gulf Arab countries, apart from one point to provide for the formation of a unity government with the participation of Mr. Saleh .

"The initiative is positive and we accept it, except the formation of a unity government because we refuse to serve under the authority of Ali Abdullah Saleh and take oath before him", told AFP spokesman of the opposition, Mohammad Qahtani, before the announcement of the plan is accepted by the CPG.

He had urged Saleh to agree to cede power in a "30 days" as required in terms of the GCC monarchies, saying the opposition was ready to form a national unity cabinet with Vice- which Mr. PresidentSaleh has transferred its powers.

So far, the opposition demanded the immediate departure of Mr. Saleh, like committees of protesters surround the protesters. The latter, however, clearly reject the plan of the Gulf monarchies.

Strongly contested in the streets since January, Mr. Saleh faces a broad popular protest movement that organizes demonstrations almost daily to demand his immediate departure. The repression of this movement has done more than 130 deaths.

Saturday, calling for a general strike was well attended especially in the south.

FOOTBALL: The Elephants for peace in Cote d'Ivoire

He has done everything that the Ivorian presidential election last November takes place in a climate of serenity, creating a media campaign around the Elephant and the democratic process, but these are the weapons that will ultimately have the last word. Regis Lemon, president of the association Foot'Attitude, did not let down either.Laurent Gbagbo to stop, Regis Lemon gave football to the heart of its action for the process of reconciliation between the supporters of former president and his successor, Alassane Ouattara, is set in the best possible conditions.

"For now, players do not have much voice in the media because the situation is still very unstable here and we want to avoid the danger that their words will be misinterpreted. But they are very involved," says Regis Lemon who lived through the dark hours of the battle of Abidjan since his residence in the district of Cocody in Abidjan.

"All the players are aware of the role they can play peacemaker in the process of reconciliation that is in place.The next action Foot'Attitude be held in early June for the return match against the Beninese, "promises Regis Lemon who hopes that his message, this time it will of course.

These photos were taken during the match Ivory Coast-Benin accounting for the qualifications of the CAN-2012. This meeting should be played March 27 in Abidjan, but it was finally relocated to Accra in Ghana. Foot'Attitude hopes this experience will be renewed in the second leg on June 3 at Porto Novo.

CINEMA: The screening of the film at the UN "Miral" boosted Israel

When the chamber of the UN General Assembly is transformed into a cinema and it plans a film on the Middle East, the actors in the Israeli-Palestinian to watch closely ... The Israeli delegation to the UN is moved because of the screening on Monday evening, the film "Miral" directed by American director Julian Schnabel of the Jewish faith in an enclosure as symbolic.

A feature film politically biased and biased judge and the Israeli delegation. "Miral" tells the story of a young Palestinian woman gathered in an orphanage in Jerusalem, which crosses the Israeli-Palestinian Oslo agreements until 1993.The film is inspired by an autobiographical book written by the Italo-Palestinian Rula Jebreal, wife of the director.

"We do not know of another film with such a controversial political content that has received such an accession of President of the General Assembly, writing and Chaim Waxman, head of the Israeli representative to the United Nations, in a press release .This is clearly a political decision of the UN, a decision that is a misjudgment and lack of balance, "the document.

Israeli officials accuse including Joseph Deiss, President of the UN General Assembly, have supported the development of this projection, but the Assembly to deal with the Israeli-Palestinian conflict in an "excessive and obsessive."

Accusations that Jean-Victor Nkolo, spokesman of the General Assembly, joined by France24.com, totally rejects. "There have been several films in recent months. Films on water films on child soldiers in Uganda, films about suicide bombers.They can also be considered political films! "Surprised it before continuing:" It is difficult to say what a movie with political content. We're talking about a work of art tour by a large American director Julian Schnabel, whose mother was president of Hadassah movement, which contributed to the creation of the Israeli state in 1948.I do not think Julian Schnabel could be seen accused of being anti-Israel. "

Al Pacino and Sean Penn attend the screening

Jean-Victor Nkolo wants, instead, believe in the virtues of the film "Miral": "We are sensitive to the views expressed by the Israeli delegation, more because of the recent murder of an Israeli family in the West Bank (in the night from March 11 to 12, Ed). We condemn this attack. It is precisely on the issue of children in this conflict that concerns the film. This may lead to a dialogue. "

Rula Jebreal says she, having described his childhood in Jerusalem for the sole purpose of encouraging the Palestinian society to send their daughters to school."The more you educate girls, the more Israel will be safe, and we'll all be safe," she claimed on FRANCE 24, the month of May (see video below-cons).

For their part, the Weinstein brothers, owners of the Weinstein Company, the company that distributes the work in the United States, assert their Jewishness and say they never provided "a film that would be unfavorable to Israel or Judaism. " "'Miral' tells the story of a young palestinian, they said, that does not make a movie controversy."Julian Schnabel drove the nail in an article published Saturday by the Daily Beast: "As long as Palestinian history is not understood and recognized by Israel and its American allies, there will be no peace in the Holy Land."

On Monday evening, the screening of "Miral" will be attended by the film crew and several personalities from the film world like Al Pacino or Sean Penn. "Member states of the UN [y] are naturally invited. It's open to everyone, just come and collect a ticket in the limited seats available", explains the spokesman of the General Assembly . Promises, however, that no actor in the Israeli-Palestinian participate in the discussion held following the screening.

CINEMA PODCAST: Audio: The boxing movie in all its

Blood and sweat in the program of 24 frames per second, the podcast cinema writing France24.com. At the exit, this Wednesday, March 9, in rooms of two French films in part devoted to boxing, the team of 24 frames per second enters the ring wearing a referee.

To my right, the American feature film "Fighter" by David O. Russell, discusses the rise of boxer Micky Ward (Mark Wahlberg), who conquered the title of welterweight champion with the help of his brother Dicky (Christian Bale), a former boxer and addicted to crack.

To my left, the French outsider "Jimmy River" Teddy Lussi-Modeste, the story of a young gypsy forced by his entourage to draw a line under the two passions of his life: Thai boxing and love Sonia. ..

Who's "Fighter" or "Jimmy River" won the favor of 24 frames per second? Answer in the podcast ...

FOOD: Rising food prices hit a new record

"In February, unfortunately, the food prices have hit a new record." This was announced Abby Abbassian, an economist with the United Nations Food and Agriculture Organization (FAO), told FRANCE 24. In February, the benchmark index of the FAO has indeed jumped 2.2% in January. Over the last six months, the increase was nearly 70%.

The situation begins to resemble more than in 2008, during which many food riots had broken out.The rising price of grain basket, accounting for 46% of the caloric World, "is largely responsible for this new record," regrets Abby Abbassian.

FAO estimates that several factors could prevent a new hunger crisis. "The situation in 2008 was largely due to higher rice prices within the basket of grain, remains one of the most stable," says Abby Abbassian. At that time also, investment in biofuels, which use grain, but now seemed uncontrollable "they are better controlled."

Ireland wants to renegotiate its rescue plan with the EU

The Irish opposition leader Enda Kenny, began Sunday the negotiations for a coalition government after winning legislative elections without an absolute majority, while demanding a renegotiation of the Brussels immediate rescue plan for the island.

Without waiting for the announcement of final results, which should not occur before Sunday night or Monday, Enda Kenny on Saturday evening claimed victory.

According to partial results for mid-morning on Sunday about 80% of seats, Fine Gael's education (center) won over 36% of the votes, humiliating the ruling party, Fianna Fail.

The centrist organization, which dominated Irish politics for 80 years, rolled out: with only 17.4% of the vote, she should see the number of seats divided by three.The vote also marks the end of the political career of outgoing Prime Minister, Brian Cowen, who did not represent.

But the tsunami, tidal Fine Gael has not been sufficient to confer an absolute majority, forcing Enda Kenny to seek an alliance with Labour, a formation which left with the Fine Gael has already ruled several times.

The Labour party has raised nearly 20% of the vote.

"Talks immediate Fine Gael and Labour in a coalition," a title in the Sunday Business Post, saying "inevitable" a coalition rather than a form of ad hoc agreements with independent members.

"I will explore all options," said Enda Kenny on Saturday, stressing however that voters had given him a "massive support" for a "strong and stable government."

"I do not want things hanging. I will decide very quickly," he said.The leading theory has until 9 March, the opening of Parliament and his inauguration as Prime Minister to form his government.

The Labour leader, Eamon Gilmore, confirmed Saturday night that "the most likely outcome" would be a "coalition", without dwelling on the many obstacles to overcome.

Of "intense discussion" on the subject will be necessary, and the Business Post said, to "bridge the chasm" between the Labour and Fine Gael, in particular on the austerity program implemented by the outgoing government.

While Fine Gael broadly supports the budget cuts imposed by the outgoing government, Labour intends to reduce the pushing of two years, to 2016 against 2014, the deadline that had set Brian Cowen to bring the deficit to 3% of Gross domestic product, against 32% in 2010.

The bailout Island International, signed with the European Union and the International Monetary Fund, awarded Dublin until 2015 for curbing public deficits.

Enda Kenny recalled on Saturday night that the renegotiation of the plan was a priority. "We will act on it next week.I already had contacts that very day (Saturday), he said, stressing the urgency of the calendar.

March will indeed decisive for the euro area, with marathon negotiations to develop a defense against the debt crises.

During the campaign, the future prime minister has promised to demand a reduction in the rate of interest at which EU ready to Dublin, under the assistance plan, and he deems "punitive." It also intends to ask the bondholders that they bear some of the losses.

Negotiations in Brussels on the plan and in Dublin on a coalition: Enda Kenny will know "no honeymoon," warned the Sunday Business Post.

BAHRAIN: The opposition demanded the resignation of government

A senior Bahraini Shiite opposition, Abdel Jalil Khalil Ibrahim, Saturday demanded the resignation of the government and the withdrawal of forces from the streets of Manama in response to the offer of dialogue made the previous day by the crown prince of Bahrain.

"To consider the dialogue, the government must resign and the army must withdraw from the streets" of the capital, saidIbrahim, leader of the parliamentary bloc of Wefaq, the main Shiite opposition group.

"We are not witnessing a language of dialogue, but that of arms," he added, referring to the army shooting Friday night against the demonstrators, who were 95 injuries, including "three in a state of clinical death, "he said.

These shootings were occurring while the Crown Prince Salman Ben Hamad Al-Khalifa, speaking on state television to promise a dialogue with the opposition once calm was restored.

"I make no distinction between a Bahraini and another and what is happening now is unacceptable," said Prince Salman."Bahrain is currently experiencing a state of division and that's unacceptable," he said.

King Hamad Ben Issa Al-Khalifa immediately instructed his son, Crown Prince, to conduct a "dialogue with stakeholders and communities without exception", ensuring through cooperation "sincere", "Bahrain will come out stronger ".

This offer of dialogue "is not serious," said the elected Wefaq, demanding that the authorities "serious and sincere measures that meet the requirements of the current situation."

"The situation is complicated and I fear it spirals out of control," warned Mr.Ibrahim, whose group has withdrawn from Parliament, where he has 18 of the 40 elected House of Deputies, to protest against the bloody crackdown on Thursday at the dawn of a sit-in anti-regime instead of Pearl in Manama.

Bahrain, a small kingdom populated predominantly Shiite, has ruled since the 18th century by a Sunni dynasty.

The head of Wefaq, Sheikh Ali Salman, told AFP Thursday that the opposition wants a "new government is proposing political reforms, we can revise the Constitution, which enshrines the principle of peaceful transfer of power and establish a constitutional monarchy. "

The Prime Minister, Shaikh Khalifa bin Salman Al Khalifa, the king's uncle, is in the position since Bahrain's independence in 1971, while the sovereignty ministries are held by members of the royal family.

CYCLING: Alberto Contador is appealing his suspension for doping

AFP - The cyclist Alberto Contador said Friday he had "never doped" and would "appeal" and fight to the end to prove his innocence at his first press conference after announcement of his suspension for one year.

"I'm going to appeal, where it will be necessary to defend my innocence to the end," Contador said at a news conference in Puigpunyent, near Palma de Mallorca (Balearic Islands, Spain).

"During these ten days I'll work up with my lawyers to see justice done," said Tour de France 2010.

"I never doped myself, I am an example of cleanliness," he said.

Contador, 28, underwent 21 July 2010 in Pau, at a rest day of the Tour de France, a positive drug test that revealed trace amounts of clenbuterol, a product that stimulates lung function and also has anabolic effects.

The three-time winner of the Tour de France has always defended by claiming to have been a victim of food contamination.

He faces a one-year suspension, sanction proposed by the Spanish Cycling Federation, and the loss of his Tour victory in 2010.

The final sanction, subject to appeal before the Court of Arbitration for Sport (CAS) is to be known until mid-February.

Hu Jintao to the U.S. to resolve differences between the two countries

The White House will deploy, on Wednesday, an arsenal of prestige for ceremonial welcome for four days with Chinese President Hu Jintao arrived in Washington the day before. This is the first visit by a Chinese head of state in the U.S. for thirteen years. Despite U.S. efforts (arrival ceremony, meets in the Oval Office with Barack Obama, news conference before a sumptuous dinner), this meeting between two giants of the global economy looks tense.

And for good reason, Washington and Beijing will try to resolve their deep differences after a complicated year 2010.Whether the economic and monetary policy, foreign policy or record of human rights, the two countries disagree on many issues.

Monetary policy at the heart of discussions

On Wednesday, it is the economic and trade issues to be addressed by both leaders. The main demand for U.S. monetary policy in China. According to Washington, the undervaluation of the yuan, Chinese currency, lead the U.S. trade deficit with regard to Beijing (270 billion). The U.S. Treasury Secretary Timothy Geithner reiterated last week his wish to see the yuan appreciate more. For the Chinese, the yuan revaluation will take time.Especially as the weakness of their currency is the backbone of the country's growth based on export capacity.

This question is at the heart of discussions between Barack Obama and Hu Jintao on Wednesday in Washington."These two countries, one still dominant and the other emerging, maintain such an economic interdependence, trade and finance that it is normal to see their relations tense as everyone's interests," said Francoise Lemoine, Senior Economist Centre for Future Studies and International Information (CEPII).

She says an economic compromise is possible between the two parties, because "the Chinese market represents a challenge as the Americans have every incentive to insist on the opening of the market economy in the world." Indeed, Obama's priority is economic.This visit should lead to the signing of a series of contracts, a quarantine, with U.S. companies like Boeing and General Electric. "The White House wants to highlight opportunities for U.S. companies and their exports to China will be positive for employment in the country," said William Meyer, Washington correspondent for FRANCE 24.

Human rights and diplomacy

Besides the monetary and economic policy, the two leaders must address their many disagreements that have plagued their diplomatic relations.Up for discussion arms sales to Taiwan, the visit of the Dalai Lama and Nobel Peace Liu Xiaobo.

The spokesman for the White House, Robert Gibbs, said Obama would talk "directly to his concerns on the issue of human rights" during his state dinner with the Chinese president Wednesday night. U.S. President knows awaited on this issue. In 2009, he postponed a scheduled appointment at the White House with the Dalai Lama, the Tibetan spiritual leader, not to upset Beijing.

Finally, the United States want their host to pressure the North Korean authorities in Pyongyang's nuclear issue and escalating tension with South Korea.