Roberto Abraham Scaruffi

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December 31, 2010 -- 7:00 a.m. GMT+08:00

Visit WSJ.com at U.S. | EUROPE | ASIA News by section: Front Section | Opinion | Front Section | |   FRONT SECTION 1 Asian Central Banks Intervene as Currencies Rise Central banks in South Korea, Malaysia and Thailand were believed to have intervened in foreign-exchange markets as Asian currencies surged against the dollar on optimism about the region's economic outlook. A True 'Japan Inc.' Could Be on the Way Japan may be moving in the direction of eventually creating a sovereign-wealth fund, a kind of government-funded vehicle that takes direct investment stakes. 2 • What's News   3 • China Manufacturing Growth Slows   4 • IMF Tells Pakistan to Trim Deficit • India, Iran Central Banks to Meet on Oil Payments Issue   5 • Russian Oil Tycoon's Sentence Extended to 2017 • Vatican Creates Financial Watchdog   6 • Sudan's South Girds for Secession Vote • Bomb Explodes at Athens Court Building   7 • Peaceful Somali Enclave Seeks New Business   8 • In Afghanistan, a Tale of Two Forces   FRONT SECTION 12 Big Gas Find Sparks a Frenzy in Israel Israel is at the center of a gas bonanza that has investors, oil firms, Israeli politicians and even Hezbollah, Israel's sworn enemy, clamoring for a piece of the action. • Natural Gas Transport Evolves • Interactive: Israel's Gas Bonanza • Video: Lebanon Needs More Power View the latest What's News Online Past Editions of In Today's Paper advertisement OPINION 9 Free Trade, Drugs and India Attacking the means of funding pharmaceutical breakthroughs is a strange way to pursue global health. www.internet.gov The FCC's new Web power grab deserves a vote under the Congressional Review Act. The Midwest Wind Surtax The latest scheme to socialize the costs of renewable energy. 10 OPINION • WONDER LAND: Popes, Atheists and Freedom •  ANDREW FLYNN: Our 'Pragmatic,' 'Ebullient' Year of 'Austerity'   11 OPINION •  ROBERT C. POZEN: A New Model for Corporate Boards •  PETER D. SCHIFF: Home Prices Are Still Too High   15 COMMODITIES REPORT China May Throw Wrench Into Oil Market China is expected to resume building its strategic oil reserves next year, a development likely to quicken the march to triple-digit oil prices. • Vote: Where will oil prices be by April? China Seeks Higher Payout From State Firms China detailed plans to make state-owned companies turn over more of their profits to the government, part of a push to get the powerful state sector to fund more social spending. Banks Open Loan Spigot Big U.S. banks are starting to increase lending to businesses as demand for loans rises and healthier banks seek to grab customers from rivals. • Factiva Search: Commercial Loans 16 • Entrants Flood Race to Rival iPad • Sony Files U.S. Patent Infringement Complaint Against LG   17 • Shinhan Financial Names New Bank CEO • Carlyle Sells China Pacific Insurance Stake • Floods Halt Australia Coal Output • Nintendo Issues 3-D Game Warning for Children   18 • Public Relations Learned the Hard Way   19 • New Blow to Music as Concerts Fizzle • ADVERTISING: Websites Ally Against Google to Sell Local-Business Ads   20 • Australian Dollar's Summer Heat Faces European Cold Front • IJM Land, MRCB Merger Aborted As Companies Can't Agree Terms   21 • The Battle to Rule the Air Heats Up • Crops Threatened by Heat in South America   22 • CREDIT MARKETS: Signs of Stronger Economy Ding Treasurys • COMMODITIES REPORT: Jobs Data Hurt Gold, but Silver Touches a Record • Japanese Yields Fall   23 • Dow Treads Lightly Toward Year-End • CURRENCY TRADING: Dollar Rally Loses Momentum • Most Asia Markets Gain   28 • HEARD ON THE STREET: Sri Lanka's Shrinking Payoff • HEARD ON THE STREET: China Rate Rise Signals Shift to Slower Growth • HEARD ON THE STREET: Icy Airline Investors Shrug Off Blizzard   W1 The Year of the Artist It's been a banner year for the Asian arts scene, with record auction sales, major gallery openings and the rising international renown of a handful of top Asian artists. W2 • TRICKS OF THE TRADE: Social-Mastermind Your Holiday Party • Tony Cheng, chef and restaurateur   W3 • Matisse Conquers Two Continents • James Siano, president of Montblanc Asia Pacific   W4 • GOLF JOURNAL: Even in Losing, Tiger Overshadows Golf Year   W5 • BANGKOK CITY WALK: SURPRISES IN THE SHADOWS   W6 • After Hours: Macau   W9 • Amid an art boom, Hong Kong's homegrown artists are wary   W10 • Roasted pigeon au sang, polenta churros, spiced wine sauce • Will Lyons on Wine: The Winter Aperitif • Drinking Now   W12 • TINA GAUDOIN ON STYLE: What Not to Wear in Bed • Leather jackets: like Brando, not Hasselhoff   W13 • Finding Your Own Place in Fes   W14 • Try a Little Tenderness • Bloodlust and Britney Spears   W15 • Bargain Now, Deliver Later • What Lies Beneath   W16 • The top five films in Asia this year Follow WSJ on Facebook and Twitter.