Tuesday, October 28, 2008
Chinese chamber of commerce promotes Halal seminar
To promote the involvement of Malaysian companies in the halal industry, the chinese chamber of commerce and industry KL,Selangor and Klang organise a seminar on Development Prospects of Halal Industry in Malaysia and Islamic Banking Facilities on Nov.8 2008 at Seng Peng Hall from 9.30am to 1.30.
80 million muslims in China alone,Halal products a hit at China expo
Halal products a hit at China expo
By Chan Cheng Tuan Published: 2008/10/24
NANNING: Malaysia's halal products have received positive response from potential buyers at the 5th China-Asean Expo (CAEXPO) which was launched here on Wednesday. Malaysia External Trade Development Corporation deputy chief executive officer (promotion) Dr Wong Lai Sum said there had been many queries from potential buyers including the Walmart chain and French companies.
"It is not only for Walmart's China market but for the Asia-Pacific region," she told reporters at the expo.
Wong said CAEXPO was a good platform for Malaysia to explain and promote its halal products, adding that there was a big global market for such products.
Malaysia's export of halal products is valued at US$3.32 billion (RM11.85 billion) a year. Wong said this was only a drop in the ocean as the global trade in halal products amounted to US$2.1 trillion (RM7.5 trillion)
Of the nearly 100 Malaysian companies at CAEXPO, 27 are dealing with halal products comprising consumables such as confectionery and non-consumables including cosmetics.
Wong said Malaysia wanted to show that the country's halal standard was not only about adherence to religious requirements but was also based on strict hygienic practices.
"We want to show that halal products are not only for Muslims but they are for everybody as they are safe from the source to the delivery," she said.
Wong said Chinese and Malaysian firms could have joint ventures and collaborate in terms of the halal certification. For instance, China could export its product with Malaysian halal certification.
There is a huge market in China for halal products as more than 80 million of its 1.3 billion population are Muslims.
Wong said apart from the halal products, there had also been encouraging response to the Multimedia Super Corridor.
Malaysia is promoting Cyberjaya and the MSC at the expo. Among others, companies are told of the benefits of being accorded MSC status.
"There have been many queries and the Chinese are impressed with what we have achieved so far," said Wong.
She said the Chinese were interested to enter Malaysian market as it was a way for them to penetrate the Asean and West Asian markets.
Wong also expressed satisfaction with the response to the Malaysian pavilion so far. Since the launch of the expo on Wednesday, about 1,000 people had visited the various booths at the pavilion daily.
CAEXPO is co-sponsored by the Ministry of Commerce of China and its Asean counterparts as well as the Asean Secretariat, and organised by the government of Guangxi Zhuang Autonomous Region of China.
Held annually in Nanning, it is aimed at spurring the setting up of the China-Asean Free Trade Area and serving as a platform for China and Asean to enhance their bilateral economic and trading cooperation.
By Chan Cheng Tuan Published: 2008/10/24
NANNING: Malaysia's halal products have received positive response from potential buyers at the 5th China-Asean Expo (CAEXPO) which was launched here on Wednesday. Malaysia External Trade Development Corporation deputy chief executive officer (promotion) Dr Wong Lai Sum said there had been many queries from potential buyers including the Walmart chain and French companies.
"It is not only for Walmart's China market but for the Asia-Pacific region," she told reporters at the expo.
Wong said CAEXPO was a good platform for Malaysia to explain and promote its halal products, adding that there was a big global market for such products.
Malaysia's export of halal products is valued at US$3.32 billion (RM11.85 billion) a year. Wong said this was only a drop in the ocean as the global trade in halal products amounted to US$2.1 trillion (RM7.5 trillion)
Of the nearly 100 Malaysian companies at CAEXPO, 27 are dealing with halal products comprising consumables such as confectionery and non-consumables including cosmetics.
Wong said Malaysia wanted to show that the country's halal standard was not only about adherence to religious requirements but was also based on strict hygienic practices.
"We want to show that halal products are not only for Muslims but they are for everybody as they are safe from the source to the delivery," she said.
Wong said Chinese and Malaysian firms could have joint ventures and collaborate in terms of the halal certification. For instance, China could export its product with Malaysian halal certification.
There is a huge market in China for halal products as more than 80 million of its 1.3 billion population are Muslims.
Wong said apart from the halal products, there had also been encouraging response to the Multimedia Super Corridor.
Malaysia is promoting Cyberjaya and the MSC at the expo. Among others, companies are told of the benefits of being accorded MSC status.
"There have been many queries and the Chinese are impressed with what we have achieved so far," said Wong.
She said the Chinese were interested to enter Malaysian market as it was a way for them to penetrate the Asean and West Asian markets.
Wong also expressed satisfaction with the response to the Malaysian pavilion so far. Since the launch of the expo on Wednesday, about 1,000 people had visited the various booths at the pavilion daily.
CAEXPO is co-sponsored by the Ministry of Commerce of China and its Asean counterparts as well as the Asean Secretariat, and organised by the government of Guangxi Zhuang Autonomous Region of China.
Held annually in Nanning, it is aimed at spurring the setting up of the China-Asean Free Trade Area and serving as a platform for China and Asean to enhance their bilateral economic and trading cooperation.
Sunday, October 19, 2008
Malaysia slams global 'casino' principles
Malaysia slams global 'casino' principles
By Adie Suri Zulkefli Published: 2008/10/20
THE world financial system, which operates on the "casino" principles, must be changed to ensure stability in the international economy, thus allowing developing nations to implement their development programmes.
Second Finance Minister Tan Sri Nor Mohamed Yakcop said the casino principles have proven to only benefit a small circle of investors, while creating a huge damage to the affected nations.
Citing the 1997 Asian financial crisis, he said currency speculators made several billions of profit from the crisis, but the damage they created in the region was worth hundreds of billions.
Nor Mohamed said the current crisis in the US is motivated by greed and fear.
"The US economy makes so much profit from complex structured financial products created by their banks," he said in Tasek Gelugor, Penang, yesterday. "These products have no genuine value. However, due to greed, they invested heavily without knowing what they are paying for," he added.
He added that when things started to go wrong, the US realised that the wealth was just a worthless paper and their greed shifted into extreme fear.
Nor Mohamed said investors then started panic-selling and refused to invest even in those shares and projects that have genuine prospects and values.
"At this point, they are no longer rationale as they are motivated by fear and the economy begins to slip into recession," he said.
By Adie Suri Zulkefli Published: 2008/10/20
THE world financial system, which operates on the "casino" principles, must be changed to ensure stability in the international economy, thus allowing developing nations to implement their development programmes.
Second Finance Minister Tan Sri Nor Mohamed Yakcop said the casino principles have proven to only benefit a small circle of investors, while creating a huge damage to the affected nations.
Citing the 1997 Asian financial crisis, he said currency speculators made several billions of profit from the crisis, but the damage they created in the region was worth hundreds of billions.
Nor Mohamed said the current crisis in the US is motivated by greed and fear.
"The US economy makes so much profit from complex structured financial products created by their banks," he said in Tasek Gelugor, Penang, yesterday. "These products have no genuine value. However, due to greed, they invested heavily without knowing what they are paying for," he added.
He added that when things started to go wrong, the US realised that the wealth was just a worthless paper and their greed shifted into extreme fear.
Nor Mohamed said investors then started panic-selling and refused to invest even in those shares and projects that have genuine prospects and values.
"At this point, they are no longer rationale as they are motivated by fear and the economy begins to slip into recession," he said.
'Islamic finance to play bigger role in global stage'
'Islamic finance to play bigger role in global stage'
Published: 2008/10/20
ISLAMIC finance is growing at an average of 15 per cent annually and gaining acceptance from the broader population in many countries, according to Institut Bank-Bank Malaysia chief executive officer Dr Mohd Kamal Khir.
"The total Islamic financial assets now exceed US$1 trillion (RM3.5 trillion), about fivefold its magnitude five years ago," Mohd Kamal said in conjunction with the Sixth International Islamic Finance Conference which opened in Kuala Lumpur last week.
According to him, the adoption of mainstream financial instruments by the Islamic finance community will see the sector playing a bigger role in global finance over the next decade.
"Such a development will not only further support the acceptance of Islamic finance, but also offer vast business opportunities made possible by the huge amount of Islamic funding available," he said.
"Players are quickly expanding their range of offerings by adopting some of the financial instruments available in the mainstream financial markets," said Monash University's Sunway campus chair of accounting and finance, Professor Bala Shanmugam.
He also said that the conference has emerged as an important international platform for the sharing of knowledge in Islamic finance. - Bernama
Published: 2008/10/20
ISLAMIC finance is growing at an average of 15 per cent annually and gaining acceptance from the broader population in many countries, according to Institut Bank-Bank Malaysia chief executive officer Dr Mohd Kamal Khir.
"The total Islamic financial assets now exceed US$1 trillion (RM3.5 trillion), about fivefold its magnitude five years ago," Mohd Kamal said in conjunction with the Sixth International Islamic Finance Conference which opened in Kuala Lumpur last week.
According to him, the adoption of mainstream financial instruments by the Islamic finance community will see the sector playing a bigger role in global finance over the next decade.
"Such a development will not only further support the acceptance of Islamic finance, but also offer vast business opportunities made possible by the huge amount of Islamic funding available," he said.
"Players are quickly expanding their range of offerings by adopting some of the financial instruments available in the mainstream financial markets," said Monash University's Sunway campus chair of accounting and finance, Professor Bala Shanmugam.
He also said that the conference has emerged as an important international platform for the sharing of knowledge in Islamic finance. - Bernama
Islamic banking escapes fallout of global financial crunch
Agence France-Presse - 10/20/2008 1:18 AM GMT
Islamic banking escapes fallout of global financial crunch
Islamic banking has largely escaped the fallout from the global financial crisis, thanks to rules that forbid the sort of risky business that is felling mainstream institutions.
But experts say that because of its heavy reliance on property investments and private equity, the booming 1.0 trillion dollar global industry could be hit if the turmoil worsens and real assets start to crumble.
"In the current financial turmoil, it is interesting to note that Islamic financing may have prevented a majority of the mess created by the conventional banking and financial institutions," Kuwait Finance House said in a report.
"The outlook for Islamic financing is bright and will likely take the lead in terms of providing funding for major projects as the conventional banking system reevaluates its business model."
The rules of Islamic banking and finance -- which incorporate principles of sharia or Islamic law -- read like a how-to guide on avoiding the kind of disaster that is currently gripping world markets.
Islamic law prohibits the payment and collection of interest, which is seen as a form of gambling, so highly complex instruments such as derivatives and other creative accounting practices are banned.
Transactions must be backed by real assets -- not shady repackaged subprime mortgages -- and because risk is shared between the bank and the depositor there is an incentive for the institutions to ensure the deal is sound.
Investors have a right to know how their funds are being used, and the sector is overseen by dedicated supervisory boards as well as the usual national regulatory authorities.
"Islamic banking has, thus far, remained positive, despite the current challenging global financial environment," said Zeti Akhtar Aziz, the central bank governor of Malaysia, which is Southeast Asia's leader in Islamic banking.
Zeti said this month that because of the slowing global economy, plans for Islamic "sukuk" bonds had been postponed or scrapped by companies including Kuwait's Abyaar Real Estate Development Co. and Malaysia's Perisai Petroleum.
And Jennifer Chang, a partner at Pricewaterhouse Coopers in the Malaysian capital Kuala Lumpur, said that given the extent of the global crisis, Islamic banks may suffer damage despite their strong position.
"Islamic banks, especially in the Middle East, got heavily into private equity and real estate investments, and a lot of loans may be backed by properties. So if the property market goes down, there will be an impact," she said.
"If a borrower is not able to pay then the bank will foreclose and the question is -- can you sell the property in the market and at what value? These are issues which all banks can face."
There have been calls for the conventional banking industry to take a leaf out of the book of Islamic finance, which also shuns investments in gaming, alcohol and pornography in favour of ethical investments.
Influential Sunni cleric Sheikh Yusuf al-Qaradawi earlier this month called on Muslims to take advantage of the turmoil to build an economic system compatible with Islamic principles.
"The collapse of the capitalist system based on usury and paper and not on goods traded on the market is proof that it is in crisis and shows that Islamic economic philosophy is holding up," said the Egyptian-born, Qatar-based cleric.
In recent years the sector has broken out of its niche and been embraced by mainstream banks. As well as basic bank deposits and investment accounts, it has expanded into areas including equity funds, bonds and Islamic hedge funds.
Abhishek Kumar, a senior research analyst at Financial Insights, a company under market research and analysis firm International Data Corp (IDC), said recent events may further boost the sector.
"More and more institutions will be interested in providing Islamic services to diversify their risk portfolio," he said, while warning that in the current financial storm there were no absolutely safe harbours.
"We're not really sure what the real extent of the impact is, and whether we've passed the worst of it or not, But the extent is not going to be as bad as in the mainstream sector," he said.
Islamic banking escapes fallout of global financial crunch
Islamic banking has largely escaped the fallout from the global financial crisis, thanks to rules that forbid the sort of risky business that is felling mainstream institutions.
But experts say that because of its heavy reliance on property investments and private equity, the booming 1.0 trillion dollar global industry could be hit if the turmoil worsens and real assets start to crumble.
"In the current financial turmoil, it is interesting to note that Islamic financing may have prevented a majority of the mess created by the conventional banking and financial institutions," Kuwait Finance House said in a report.
"The outlook for Islamic financing is bright and will likely take the lead in terms of providing funding for major projects as the conventional banking system reevaluates its business model."
The rules of Islamic banking and finance -- which incorporate principles of sharia or Islamic law -- read like a how-to guide on avoiding the kind of disaster that is currently gripping world markets.
Islamic law prohibits the payment and collection of interest, which is seen as a form of gambling, so highly complex instruments such as derivatives and other creative accounting practices are banned.
Transactions must be backed by real assets -- not shady repackaged subprime mortgages -- and because risk is shared between the bank and the depositor there is an incentive for the institutions to ensure the deal is sound.
Investors have a right to know how their funds are being used, and the sector is overseen by dedicated supervisory boards as well as the usual national regulatory authorities.
"Islamic banking has, thus far, remained positive, despite the current challenging global financial environment," said Zeti Akhtar Aziz, the central bank governor of Malaysia, which is Southeast Asia's leader in Islamic banking.
Zeti said this month that because of the slowing global economy, plans for Islamic "sukuk" bonds had been postponed or scrapped by companies including Kuwait's Abyaar Real Estate Development Co. and Malaysia's Perisai Petroleum.
And Jennifer Chang, a partner at Pricewaterhouse Coopers in the Malaysian capital Kuala Lumpur, said that given the extent of the global crisis, Islamic banks may suffer damage despite their strong position.
"Islamic banks, especially in the Middle East, got heavily into private equity and real estate investments, and a lot of loans may be backed by properties. So if the property market goes down, there will be an impact," she said.
"If a borrower is not able to pay then the bank will foreclose and the question is -- can you sell the property in the market and at what value? These are issues which all banks can face."
There have been calls for the conventional banking industry to take a leaf out of the book of Islamic finance, which also shuns investments in gaming, alcohol and pornography in favour of ethical investments.
Influential Sunni cleric Sheikh Yusuf al-Qaradawi earlier this month called on Muslims to take advantage of the turmoil to build an economic system compatible with Islamic principles.
"The collapse of the capitalist system based on usury and paper and not on goods traded on the market is proof that it is in crisis and shows that Islamic economic philosophy is holding up," said the Egyptian-born, Qatar-based cleric.
In recent years the sector has broken out of its niche and been embraced by mainstream banks. As well as basic bank deposits and investment accounts, it has expanded into areas including equity funds, bonds and Islamic hedge funds.
Abhishek Kumar, a senior research analyst at Financial Insights, a company under market research and analysis firm International Data Corp (IDC), said recent events may further boost the sector.
"More and more institutions will be interested in providing Islamic services to diversify their risk portfolio," he said, while warning that in the current financial storm there were no absolutely safe harbours.
"We're not really sure what the real extent of the impact is, and whether we've passed the worst of it or not, But the extent is not going to be as bad as in the mainstream sector," he said.
US, European leaders to hold summits on financial crisis
US, European leaders to hold summits on financial crisis
--------------------------------------------------------------------------------
19th Oct 2008
US and European leaders have agreed to hold a series of summits to reform the global financial system to make it more resilient and ensure continued prosperity in the world.
US President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso said in a joint statement released after their talks that the first summit would be held in the United States "soon after the US elections" on November 4.
The world leaders will "review progress being made to address the current crisis and to seek agreement on principles of reform needed to avoid a repetition and assure global prosperity in the future," it added.
Later summits "would be designed to implement agreement on specific steps to be taken to meet those principles," the statement read.
The first of the summits will likely be held in November, but Tony Fratto, a White House spokesman, did not give a date.
According to the joint statement, the three leaders "had a very positive discussion" about continuing to coordinate steps needed to solve the financial crisis.
Sarkozy and Barroso arrived Saturday for a three hour meeting with Bush at the presidential retreat at Camp David in Maryland, outside the US capital.
Just before the meeting, UN Secretary General Ban Ki-moon said he backed the idea of a summit by early December at the latest.
Sarkozy, whose country currently holds the rotating presidency of the European Union, is seeking a bold relaunching of the international financial system. The French president warned that it was urgent to stabilize the marketplace "as swiftly as possible by coming up with answers."
"Once calm has been restored, we must avoid at all costs that those who have led us to where we are today should be allowed to do so once again," he said at Camp David.
Bush , meanwhile, stressed the importance of preserving "the foundations of democratic capitalism -- the commitment to free markets, free enterprise and free trade."
Fallout from the crisis grew as fresh job losses were blamed on the turmoil. Bank chiefs faced a backlash, and stocks Friday closed a tumultuous week with more wild swings.
Key US data showed starts on building new homes slumped an additional 6.3 percent in September to the lowest level since the 1991 recession, the latest evidence of the burst housing bubble that shook the US economy and triggered the global financial crisis.
Unemployment has risen across Europe and the United States, with key sectors such as car makers badly hit. Analysts forecast worsening economic conditions in most advanced economies.
Fratto said that a location for the first summit had not been determined, though Sarkozy recommended New York, where the crisis began.
Fratto said that Bush, Sarkozy and Barroso proposed a series of summits because it was "too ambitions" to think that the crisis could be solved in one single meeting.
The European leaders are seeking to overhaul the Bretton Woods system that has governed international finance since the end of World War II, and launch a new system.
"You have a lot of people talking about Bretton Woods," said Fratto. "Bretton Woods was a three week conference that involved 44 countries at a time when there were a lot fewer countries in the world," he said.
The first summit would be "to discuss the current financial crisis and also to set forth principles that would guide the future follow on," he said.
Of course by then participants "would be interested in the views and the input of whoever the president-elect is," he added.
--------------------------------------------------------------------------------
19th Oct 2008
US and European leaders have agreed to hold a series of summits to reform the global financial system to make it more resilient and ensure continued prosperity in the world.
US President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso said in a joint statement released after their talks that the first summit would be held in the United States "soon after the US elections" on November 4.
The world leaders will "review progress being made to address the current crisis and to seek agreement on principles of reform needed to avoid a repetition and assure global prosperity in the future," it added.
Later summits "would be designed to implement agreement on specific steps to be taken to meet those principles," the statement read.
The first of the summits will likely be held in November, but Tony Fratto, a White House spokesman, did not give a date.
According to the joint statement, the three leaders "had a very positive discussion" about continuing to coordinate steps needed to solve the financial crisis.
Sarkozy and Barroso arrived Saturday for a three hour meeting with Bush at the presidential retreat at Camp David in Maryland, outside the US capital.
Just before the meeting, UN Secretary General Ban Ki-moon said he backed the idea of a summit by early December at the latest.
Sarkozy, whose country currently holds the rotating presidency of the European Union, is seeking a bold relaunching of the international financial system. The French president warned that it was urgent to stabilize the marketplace "as swiftly as possible by coming up with answers."
"Once calm has been restored, we must avoid at all costs that those who have led us to where we are today should be allowed to do so once again," he said at Camp David.
Bush , meanwhile, stressed the importance of preserving "the foundations of democratic capitalism -- the commitment to free markets, free enterprise and free trade."
Fallout from the crisis grew as fresh job losses were blamed on the turmoil. Bank chiefs faced a backlash, and stocks Friday closed a tumultuous week with more wild swings.
Key US data showed starts on building new homes slumped an additional 6.3 percent in September to the lowest level since the 1991 recession, the latest evidence of the burst housing bubble that shook the US economy and triggered the global financial crisis.
Unemployment has risen across Europe and the United States, with key sectors such as car makers badly hit. Analysts forecast worsening economic conditions in most advanced economies.
Fratto said that a location for the first summit had not been determined, though Sarkozy recommended New York, where the crisis began.
Fratto said that Bush, Sarkozy and Barroso proposed a series of summits because it was "too ambitions" to think that the crisis could be solved in one single meeting.
The European leaders are seeking to overhaul the Bretton Woods system that has governed international finance since the end of World War II, and launch a new system.
"You have a lot of people talking about Bretton Woods," said Fratto. "Bretton Woods was a three week conference that involved 44 countries at a time when there were a lot fewer countries in the world," he said.
The first summit would be "to discuss the current financial crisis and also to set forth principles that would guide the future follow on," he said.
Of course by then participants "would be interested in the views and the input of whoever the president-elect is," he added.
'Overhaul world financial system'
2008/10/19
'Overhaul world financial system'
By : Adie Suri Zulkefli
Email to friend Print article
Tan Sri Nor Mohamed Yakcop serving ‘air batu campur’ to young guests at his Hari Raya Aidilfitri open house in Teluk Air Tawar yesterday.
BUTTERWORTH: Ten years ago, Malaysia called for reforms in the global financial system but this was rejected by the international community.
Today, as fears of a worldwide recession mounts, European leaders are talking about changing the system.
Second Finance Minister Tan Sri Nor Mohamed Yakcop said, even though Malaysia had managed its economy well, the country would not be spared from the impact of the global financial crisis.
"We have built strong economic fundamentals but we can't say we are immune to the impact of the global crisis in the long run," said Nor Mohamed, who is also member of parliament for Tasek Gelugor, at his Hari Raya Aidilfitri open house in Taman Air Tawar Indah, Teluk Air Tawar.
He said Malaysia would continue to call for reforms in the global financial system.
He said it was time for the developed and developing nations to work together.
"We need to cooperate to formulate a new global financial infrastructure that is just and transparent, and do away with double standards and hypocrisy."
Nor Mohamed said the new framework should protect nations that managed their economies wisely from the impact of global crises.
He said the world reserves used by the United States to keep its economy going included the reserves of Asian countries and oil producing nations. He said the bulk of the reserves which were used to buy treasury notes, bills and bonds issued by western nations had been depleted by the crisis.
"We are proposing that these reserves be invested in developing infrastructure in Asean nations so that the region can reap the benefit by growing our economies together."
Nor Mohamed said Asean needed about US$50 billion (RM176 billion) for infrastructure development annually.
Malaysia will be hosting a financial infrastructure seminar on Nov 10 for leaders from the region to discuss the issue.
'Overhaul world financial system'
By : Adie Suri Zulkefli
Email to friend Print article
Tan Sri Nor Mohamed Yakcop serving ‘air batu campur’ to young guests at his Hari Raya Aidilfitri open house in Teluk Air Tawar yesterday.
BUTTERWORTH: Ten years ago, Malaysia called for reforms in the global financial system but this was rejected by the international community.
Today, as fears of a worldwide recession mounts, European leaders are talking about changing the system.
Second Finance Minister Tan Sri Nor Mohamed Yakcop said, even though Malaysia had managed its economy well, the country would not be spared from the impact of the global financial crisis.
"We have built strong economic fundamentals but we can't say we are immune to the impact of the global crisis in the long run," said Nor Mohamed, who is also member of parliament for Tasek Gelugor, at his Hari Raya Aidilfitri open house in Taman Air Tawar Indah, Teluk Air Tawar.
He said Malaysia would continue to call for reforms in the global financial system.
He said it was time for the developed and developing nations to work together.
"We need to cooperate to formulate a new global financial infrastructure that is just and transparent, and do away with double standards and hypocrisy."
Nor Mohamed said the new framework should protect nations that managed their economies wisely from the impact of global crises.
He said the world reserves used by the United States to keep its economy going included the reserves of Asian countries and oil producing nations. He said the bulk of the reserves which were used to buy treasury notes, bills and bonds issued by western nations had been depleted by the crisis.
"We are proposing that these reserves be invested in developing infrastructure in Asean nations so that the region can reap the benefit by growing our economies together."
Nor Mohamed said Asean needed about US$50 billion (RM176 billion) for infrastructure development annually.
Malaysia will be hosting a financial infrastructure seminar on Nov 10 for leaders from the region to discuss the issue.
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