For Modernizing Thais, Monastic Life Loses Allure

Young monks rehearsed an evening candlelight ceremony at the Chedi Luang temple in Chiang Mai, Thailand. The country’s Buddhist temples are as much a part of the landscape as rice paddies and palm trees. But many temples in rural Thailand have fallen quiet.

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Oracle’s Profit Climbs 18%

SAN FRANCISCO (AP) — Oracle, the business software maker, said Tuesday that its profit rose 18 percent in its most recent quarter because companies spent more on software and other technology as the year was winding down.

The results were an improvement from Oracle’s previous quarter, when its revenue fell slightly from a year earlier.

The latest quarter spanned September through November. That makes Oracle the first technology bellwether to provide insight into corporate spending since the Nov. 6 re-election of President Obama and negotiations to avoid a fiscal crisis began to heat up in Washington.

Oracle said it earned $2.6 billion, or 53 cents a share, in its fiscal second quarter. That compares with net income of $2.2 billion, or 43 cents a share, a year earlier.

If not for charges for past acquisitions and certain other costs, Oracle said it would have earned 64 cents a share. On that basis, Oracle topped the average earnings estimate of 61 cents a share among analysts surveyed by FactSet.

Revenue increased 3 percent from last year to $9.1 billion, about $900 million more than analysts had projected.

In a particularly heartening sign, Oracle said sales of new software licenses and subscriptions to its online services climbed 17 percent from last year to outstrip the most optimistic predictions issued by management three months ago.

The flow of new licenses and subscriptions, which represent about a quarter of Oracle’s revenue, is closely tracked by investors because they lead to more revenue in the future from upgrades.

In the current quarter, which ends in February, Oracle expects software licenses and subscriptions to increase in the range of 3 percent to 13 percent from the previous year. The company, based in Redwood Shores, Calif., predicted its adjusted earnings in the current quarter will range from 64 cents to 68 cents a share on revenue ranging from $9.1 billion to $9.5 billion. That would be a 1 percent to 5 percent increase from the prior year.

Shares of in Oracle rose 1.28 percent in extended trading after the numbers came out. They ended regular trading at $32.88.

In Tuesday’s conference call, the chief executive, Lawrence Ellison, said some of the erosion in the hardware division has been by design as Oracle weeded out some of the less profitable equipment. He assured analysts that hardware revenue would start increasing in the final quarter of Oracle’s fiscal year, the period spanning March through May. Sun’s Java programming language already has been paying off for the software side of Oracle’s business, according to Mr. Ellison.

“Sun has already proven to be the most strategic and profitable acquisition Oracle has ever made,” he said.

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Church Officials Call on Filipinos to Campaign Against Birth Control Law

MANILA — After losing a battle to stop the passage of a contentious birth control law, Roman Catholic Church officials on Tuesday dug in and instructed their millions of followers to campaign against the measure in communities, schools and homes.

“Let us intensify the moral spiritual education of our youth and children so that they can stand strong against the threats to their moral fiber,” Archbishop Socrates Villegas said in a statement. “Let us use all the means within our reach to safeguard the health of expectant mothers in our communities.”

The Philippine Congress passed legislation on Monday to help the country’s poorest women gain access to birth control. Each chamber of the national legislature passed its own version of the measure, and minor differences between the two must be reconciled before the measure goes to President Benigno S. Aquino III for his signature.

The measure had been stalled for more than a decade because of determined opposition from the church in this overwhelmingly Catholic country.

Birth control is legal and widely available in the Philippines for people who can afford it, particularly those living in cities. But condoms, birth control pills and other forms of contraception are sometimes kept out of community health centers and clinics by local government and Catholic Church officials.

The measure passed on Monday would stock government health centers, including those in remote areas, with free or subsidized birth control options for the poor. It would also require sex education in public schools and family-planning training for community health officers.

Archbishop Villegas, the vice president of the Catholic Bishops Conference of the Philippines, on Tuesday encouraged Catholics to resist the measure by disseminating information about natural family planning methods and warning people about “the hazardous effects of contraceptive pills on the health of women.”

“Let us conduct our own sex education of our children insuring that sex is always understood as a gift of God,” Archbishop Villegas stated. “Sex must never be taught separate from God and isolated from marriage.”

Bishop Gabriel V. Reyes, chairman of the conference’s Episcopal Commission on Family and Life, said after the vote Monday that “we need to explain to our fellow believers that they ought to refuse contraceptives even when they are being offered these.”

The Philippines has one of the highest birthrates in Asia, but backers of the legislation, including the Aquino administration, have said repeatedly that its purpose is not to limit population growth. Rather, they say, the bill is meant to offer poor families the same reproductive health options that wealthier people in the country enjoy.

Though lacking the numbers needed to defeat the legislation, lawmakers who opposed the measure sought to delay the vote. In one instance, an opposition senator proposed 35 amendments just before a vote was to take place.

Often the debate took bizarre turns, as when a congressman claimed that the birth control measure was a plot by the Philippine Communist Party to take over the government.

In another instance, a male senator requested removal of the phrase “satisfying sex” from a passage in the bill that referred to “safe and satisfying sex.” Several female senators opposed its removal, and the amendment was debated live on television while social media networks crackled with sarcastic commentary. “I am a Filipina,” Senator Miriam Santiago said in response to the amendment. “I am also a married woman, and I insist whoever is married to me should give me safe and satisfying sex, period.”

During a vote on the measure in the House of Representatives, the boxer and congressman Manny Pacquiao linked the birth control measure to his having been knocked unconscious on Dec. 8 by Juan Manuel Marquez during their W.B.O. world welterweight fight in Las Vegas.

“Some thought I was dead,” Mr. Pacquiao said in a speech explaining his vote against the measure. “What happened in Vegas strengthened my already firm belief in the sanctity of life.” He added: “Manny Pacquiao is pro-life. Manny Pacquiao votes no.”

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Church Officials Call on Filipinos to Campaign Against Birth Control Law

MANILA — After losing a battle to stop the passage of a contentious birth control law, Roman Catholic Church officials on Tuesday dug in and instructed their millions of followers to campaign against the measure in communities, schools and homes.

“Let us intensify the moral spiritual education of our youth and children so that they can stand strong against the threats to their moral fiber,” Archbishop Socrates Villegas said in a statement. “Let us use all the means within our reach to safeguard the health of expectant mothers in our communities.”

The Philippine Congress passed legislation on Monday to help the country’s poorest women gain access to birth control. Each chamber of the national legislature passed its own version of the measure, and minor differences between the two must be reconciled before the measure goes to President Benigno S. Aquino III for his signature.

The measure had been stalled for more than a decade because of determined opposition from the church in this overwhelmingly Catholic country.

Birth control is legal and widely available in the Philippines for people who can afford it, particularly those living in cities. But condoms, birth control pills and other forms of contraception are sometimes kept out of community health centers and clinics by local government and Catholic Church officials.

The measure passed on Monday would stock government health centers, including those in remote areas, with free or subsidized birth control options for the poor. It would also require sex education in public schools and family-planning training for community health officers.

Archbishop Villegas, the vice president of the Catholic Bishops Conference of the Philippines, on Tuesday encouraged Catholics to resist the measure by disseminating information about natural family planning methods and warning people about “the hazardous effects of contraceptive pills on the health of women.”

“Let us conduct our own sex education of our children insuring that sex is always understood as a gift of God,” Archbishop Villegas stated. “Sex must never be taught separate from God and isolated from marriage.”

Bishop Gabriel V. Reyes, chairman of the conference’s Episcopal Commission on Family and Life, said after the vote Monday that “we need to explain to our fellow believers that they ought to refuse contraceptives even when they are being offered these.”

The Philippines has one of the highest birthrates in Asia, but backers of the legislation, including the Aquino administration, have said repeatedly that its purpose is not to limit population growth. Rather, they say, the bill is meant to offer poor families the same reproductive health options that wealthier people in the country enjoy.

Though lacking the numbers needed to defeat the legislation, lawmakers who opposed the measure sought to delay the vote. In one instance, an opposition senator proposed 35 amendments just before a vote was to take place.

Often the debate took bizarre turns, as when a congressman claimed that the birth control measure was a plot by the Philippine Communist Party to take over the government.

In another instance, a male senator requested removal of the phrase “satisfying sex” from a passage in the bill that referred to “safe and satisfying sex.” Several female senators opposed its removal, and the amendment was debated live on television while social media networks crackled with sarcastic commentary. “I am a Filipina,” Senator Miriam Santiago said in response to the amendment. “I am also a married woman, and I insist whoever is married to me should give me safe and satisfying sex, period.”

During a vote on the measure in the House of Representatives, the boxer and congressman Manny Pacquiao linked the birth control measure to his having been knocked unconscious on Dec. 8 by Juan Manuel Marquez during their W.B.O. world welterweight fight in Las Vegas.

“Some thought I was dead,” Mr. Pacquiao said in a speech explaining his vote against the measure. “What happened in Vegas strengthened my already firm belief in the sanctity of life.” He added: “Manny Pacquiao is pro-life. Manny Pacquiao votes no.”

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DealBook: As Unit Pleads Guilty, UBS Pays $1.5 Billion Over Rate Rigging

UBS, the Swiss banking giant, announced a record settlement with global authorities on Wednesday, agreeing to a combined $1.5 billion in fines for its role in a multiyear scheme to manipulate interest rates.

In a sign that officials are increasingly taking a hard line against financial wrongdoing, the Justice Department also secured a guilty plea from the bank’s Japanese subsidiary, sending a warning shot to other big banks suspected of rate rigging. The UBS subsidiary, which agreed to plead to a single count of wire fraud, is the first unit of a big bank to agree to criminal charges in more than a decade.

The cash penalties represented the largest fines to date related to the rate-rigging inquiry. The fine is also one of the biggest sanctions that American and British authorities have ever levied against a financial institution, falling just short of the $1.9 billion payout that HSBC made last week over money laundering accusations.

The severity of the UBS penalties, authorities said, reflected the extent of the problems. The government complaints laid bare a scheme that spanned from 2005 to 2010, describing how the bank reported false rates to squeeze out extra profits and deflect concerns about its health during the financial crisis.

“The findings we have set out in our notice today do not make for pretty reading,” Tracey McDermott, the enforcement director for the Financial Services Authority of Britain, said in a statement. “The integrity of benchmarks,” she said, “are of fundamental importance to both U.K. and international financial markets. UBS traders and managers ignored this.”

The UBS case reflects a pattern of abuse that authorities have uncovered as part of a multi-year investigation into rate-rigging. The inquiry, which has ensnared more than a dozen big banks, is focused on key benchmarks like the London interbank offered rate, or Libor. Such rates are used to help determine the borrowing rates for trillions of dollars of financial products like corporate loans, mortgages and credit cards.

In the UBS matter, the wrongdoing occurred largely within the Japanese unit, where traders colluded with other banks and brokerage firms to tinker with Yen denominated Libor and bolster their returns. During the 2008 financial crisis, UBS managers also “inappropriately gave guidance to those employees charged with submitting interest rates, the purpose being to positively influence the perception of UBS’s creditworthiness,” according to authorities.

In a series of colorful e-mails and phone calls, traders tried to influence the rate-setting process. “I need you to keep it as low as possible,” one UBS trader said to an employee at another brokerage firm in September 2008, according to the complaint filed by the Financial Services Authority. “If you do that,” the trader promised to pay “whatever you want. I’m a man of my word.”

As the employees carried out the alleged manipulation, they also celebrated the efforts, with one trader referring to a partner in the scheme as “superman.” “Be a hero today,” he urged, according the complaint by regulators.

The British and Swiss authorities released their complaints on Wednesday before the bank’s shares began trading in Switzerland. American authorities are expected to release their own complaints later Wednesday in Washington.

In a statement, UBS highlighted its cooperation with the investigation. The firm previously stated that it made provisions of 897 million Swiss francs ($975 million) to cover potential legal and regulatory fines.

“We discovered behavior of certain employees that is unacceptable,” the chief executive of UBS, Sergio P. Ermotti, said in the statement. “We deeply regret this inappropriate and unethical behavior. No amount of profit is more important than the reputation of this firm, and we are committed to doing business with integrity.”

The UBS case provides a lens to view broader problems in the rate-setting process, which affects how consumers and companies borrow money around the world. In June, authorities scored their first Libor settlement, securing a
$450 million payout from Barclays, the big British bank.

The UBS case — the product of cross-border collaboration among regulators and federal prosecutors – is more than triple the earlier fine.

The Commodity Futures Trading Commission and the Justice Department leveled about $1.2 billion in combined fines. The Financial Services Authority of Britain fined the bank $260 million. The Swiss Financial Market Supervisory Authority, which does not have the power to fine, recovered $65 million in the bank’s supposed ill-gotten gains.

The Justice Department’s criminal division, which arranged the guilty plea with the Japanese subsidiary, also struck a non-prosecution agreement with the parent company. The exact total of the penalties was unclear, because the department has not yet released its settlement documents.

The Justice Department’s case is also expected to take aim at some of the bank’s traders, including 33-year-old Thomas Hayes. The Justice Department plans to announce charges against Mr. Hayes, the former UBS and Citigroup trader, who featured prominently in the investigation, according to people with knowledge of the matter. He was arrested in London last week and later released on bail. Other UBS employees have been suspended or fired following an internal investigation.

The fallout from the UBS case is expected to ratchet up the pressure on some of the world’s largest financial institutions and spur settlement talks across the banking industry.

The Royal Bank of Scotland has said it expects to pay fines before its next earnings statement in February, while Deutsche Bank has set aside an undisclosed amount to cover potential penalties. Some American institutions, including Citigroup and JPMorgan Chase, also remain in regulators’ crosshairs.

The UBS case has exposed the systemic problems with the rate-setting process. Over a 6-year period, UBS traders targeted the major currencies that form the Libor system, including the U.S. dollar denominated rate. The bank was also cited for attempting to manipulate other benchmarks like the Euro Interbank Offered Rate, or Euribor, and the Tokyo Interbank Offered Rate, or Tibor.

Much of the activity took place in the bank’s Japanese unit. Authorities said four UBS traders colluded to manipulate submissions to Yen Libor. The individuals made more than 1,900 requests to brokers and other banks to alter the rate, according to regulatory filings. As part of their efforts, UBS employees made quarterly payments of £15,000 ($24,000) to outside brokers involved in the rate-rigging for at least 18 months for their help, the complaint said.

To avoid arousing suspicion, UBS employees routinely made small changes to submissions, the complaint details. The individuals, who communicated with colleagues about the rate-setting through emails and instant messages, also altered rate submissions to benefit traders at other banks.

The Japanese unit’s guilty plea for wire fraud follows frantic last-minute negotiations last week between senior UBS officials and American authorities. The actions detailed in the complaint emboldened the Justice Department to seek the guilty plea from the Japanese unit. By forcing the plea from the firm’s Japanese subsidiary, federal authorities sent a clear message about the level of wrongdoing, but stopped far short of shutting UBS out of the American markets.

Still, the steep sanctions come as a surprise, given the bank’s cooperation with investigators.

Since first announcing that it was the subject of Libor investigations, the Swiss bank has eagerly worked with authorities in a bid for leniency. UBS, for example, had received conditional immunity from the Justice Department’s antitrust unit, a deal that did not apply to the Justice Department’s criminal division.

The case presents the latest setback for UBS.

The Swiss bank already agreed to a $780 million fine in 2009 with American authorities to settle charges that it helped American clients avoid tax. The firm also announced a $2.3 million loss last year related to illegal trading activity by a former employee, Kweku M. Adoboli. Mr. Adoboli subsequently was sentenced to seven years, and British authorities fined UBS $47.5 million over the scandal.

UBS said it expected to report a net loss of up to $2.7 billion in the fourth quarter of the year because of the costs related to Libor and other legal matters. The figure includes around $2.3 billion of provisions of legal and regulatory costs, as well as $548 million in restructuring charges.

In the wake of the Libor scandal, UBS has been forced to beef up its compliance and rate-setting procedures, according to the Swiss regulator. The bank has also fired individuals connected to the rate-rigging

“We are pleased that the authorities gave us credit for the important and positive changes we have already made,” the chairman of UBS, Axel Weber, said in a statement. “I have zero tolerance for inappropriate and unethical behavior of any of our staff.”

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Hard Times in Spain Force Feuding Couples to Delay Divorce

SABADELL, SPAIN — Esther Fernández, 45, was desperate for a divorce. A hairdresser, she had fallen in love with another man, who was dying of cancer.

Her husband, Gaby Cuadrado, 47, had lost his factory job. Selling their house in a depressed market in this sleepy city outside Barcelona was impossible. Neither could afford a second home. They were already struggling to pay their mortgage. An expensive divorce was out of the question.

So for two years she stuck it out, leaving before dawn, hiding from Mr. Cuadrado, who said he became so obsessed with his wife that he would spy on her from his car. She had panic attacks. “I felt trapped,” she said.

It was even worse for him. The situation, Mr. Cuardado said, pushed him to the brink of suicide. “Being forced to live with a woman I loved who had rejected me was psychological torture,” he said. They finally divorced in November, after moving to tiny apartments in bad parts of town.

If marriage is for better or worse, richer or poorer, then these are the worst of times for a poorer Spain. Couples are paying the emotional price, especially when they cannot afford the price of divorce.

Fewer of them can. Accounts from judges, divorce lawyers and therapists — as well as couples themselves — indicate that many Spaniards are staying in troubled relationships longer as a result of an economic crisis that has ground on for nearly five years.

Last year, the number of divorces in Spain dropped 17 percent compared with 2006, according to the Spanish Judicial Council, a national association that represents the country’s judges. The divorce rate jumped in 2006 after changes to the divorce law made it easier to split up in 2005, but it has fallen with the crisis in Spain’s economy, according to the council.

“There is no doubt that the crisis is pushing people to stay together,” said José María Redondo, the council’s spokesman, who attributed the drop in the divorce rate to a burst housing bubble and hard economic times.

The crisis is not only slowing divorces but also transforming the process, according to divorce lawyers. Judges are reducing alimony payments and dueling spouses have moved from fighting over property to sparring over the critical issue of who assumes debts.

Some couples are literally dividing their homes in two, by sticking tape across the floor, said Álvaro Cavia, a leading Barcelona-based divorce lawyer. Unable to afford a divorce, other couples live together even as they engage openly in other romantic relationships.

Squabbles over money — or the lack of it — are the biggest source of contention among couples seeking to mend fraying relationships, according to Myka Pedrero, a family psychologist in a suburb of Barcelona, who counseled Ms. Fernández, her sister.

It is worst for jobless couples, she said, not just because of the money strains, but because they often spend all day together at home, treading on each others’ nerves. When warring couples share the same quarters it is especially confusing for children unable to accept their parents’ break-ups, she said.

“The crisis makes things worse as it adds huge pressures to marriages when you don’t have a job and can’t pay the bills,” she said. “When people who want to split are forced to stay together it pollutes the whole ecosystem that is the family and drives both the man and the woman crazy.”

Until the crisis exploded, legal experts say, divorce was widely accepted as the easiest exit from a bad marriage after decades during which it was prohibited during the Franco dictatorship.

Divorce was first legalized in Spain 1981 but the law required couples to legally separate first, a period of reflection aimed at safeguarding the family in a socially conservative, Catholic country. The change in the law in 2005 has allowed couples to get “express divorces” without any separation. Couples need to have been married for at least three months to qualify.

Even when couples can afford a divorce, the economic crisis has added new complications.

Silvia Taulés contributed reporting from Barcelona.

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European Mobile Stocks Fall After Costly Spectrum Auction

BERLIN — Shares of four big European cellphone operators fell Monday after they paid more than twice what investors had been expecting in a spectrum auction in the Netherlands, raising concern that a damaging bidding war could sap the industry.

The Dutch auction began Oct. 31 and ended Friday, raising 3.8 billion euros, or $5 billion, for spectrum that the companies plan to use for high-speed service using Long Term Evolution, or LTE, technology. But analysts warned that the sale, to be followed next year by a much larger spectrum auction in Britain, could herald a new round of expensive infrastructure levies that might restrict operators at a time when their sales have been stagnating.

The winners were KPN, the former Dutch monopoly; Vodafone, the British mobile group; the German company T-Mobile; and the Swedish operator Tele2.

LTE supports all of the typical high-speed applications, including audio and video streaming and Internet browsing, but is much faster, cutting download times and significantly expanding the capacity of existing networks to handle increases in data traffic.

After the bidding, KPN, which is owned in part by the Mexican communications mogul Carlos Slim Helú, canceled its dividend for 2012 and lowered its projected investor payout for 2013 to cover the 1.35 billion euros the company spent in the auction.

On Monday, the first day of stock trading after the completion of the auction, shares of KPN fell nearly 15 percent in Amsterdam, the steepest drop in more than a decade. Shares of Vodafone were down 1.7 percent by the close of the day in London. Shares of Deutsche Telekom, the parent company of T-Mobile, fell 0.3 percent in Frankfurt, and shares of Tele2 declined 1 percent in Stockholm.

“The money raised in the Dutch auction was a lot more than investors were expecting,” said Phil Kendall, an analyst at Strategy Analytics in Milton Keynes, England. “The concern now is that the sums will now be so great the technology will be unprofitable.”

Mr. Kendall said mobile operators were eager to obtain additional spectrum because extensive bandwidth had become increasingly critical to handle the explosion of mobile Internet data, which is testing the capacity of some carriers’ grids and causing overloading.

“Really, for many operators, the only way they will be able to differentiate themselves from other operators is by having enough spectrum to manage the demand on their services,” Mr. Kendall said. “That is why there is such intense interest in buying more frequency.”

More radio spectrum, or wireless network capacity, is crucial to delivering the high speeds advertised for LTE, which theoretically can produce download rates of up to 300 megabits per second on a wireless connection. Such speeds and the expanded capacity of the networks are considered essential to support the rapid expansion of the wireless Internet, as well as the increasing use of mobile grids for robotic communication between devices.

Speeds on the first generation of LTE networks activated in Germany, South Korea, Sweden and the United States have averaged much less, generally 10 to 25 megabits per second, in part because operators do not have enough spectrum to exploit the technology’s full potential.

The Dutch auction also raised the specter of another costly round of infrastructure fees on the cellphone industry similar to those in 1999 and 2000, when operators paid billions for the first European 3G mobile licenses.

Investors were concerned that the Dutch prices could set a precedent for auctions planned in Britain and perhaps Poland next year, as well as others that will be held across Europe over the next five years, as bandwidth is freed up and sold by national governments to wireless carriers. Germany, which held its latest spectrum auction in 2010, has indicated that it may hold another in 2016.

Those license sales in 1999 and 2000, engineered in most cases by governments to extract the maximum from mobile operators, led to large profit write-downs by operators including Vodafone and Telefónica, which owns the carrier O2.

With completion of the Dutch auction, the focus will now shift to Britain, where the sector’s regulator is planning to begin its spectrum auction in January.

All four British mobile network operators are expected to bid: Everything Everywhere, the venture of Deutsche Telekom and France Telecom; Vodafone; O2 U.K.; and 3, a unit of Hutchison Whampoa. The former landline monopoly BT has not ruled out a potential bid, which could further raise the stakes.

Matthew Howett, an analyst at Ovum, a research firm in London, said the British auction could raise £2 billion to £4 billion, or $3.2 billion to $6.5 billion.

“The £2 billion to £4 billion range that is widely touted is based on similar auctions elsewhere in Europe,” he said. “There is nothing to suggest that the U.K. should be any different. It’s possibly the most competitive market in Europe and all existing operators will want to make sure they walk away with spectrum to feed the almost insatiable appetite we in the U.K. now have for data.”

This article has been revised to reflect the following correction:

Correction: December 17, 2012

An earlier version of this article erroneously stated the amount paid by KPN for spectrum in the auction. It was 1.35 billion euros, not $1.35 billion.

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Recipes for Health: Not-Too-Sweet Wok-Popped Coconut Kettle Corn

Andrew Scrivani for The New York Times

Not-too-sweet coconut kettle corn.

I’m usually not a big fan of sweet kettle corn, but I wanted to make a moderately sweet version because some people love it and it is nice to be able to offer a sweet snack for the holidays. I realized after testing this recipe that I do like kettle corn if it isn’t too sweet. The trick to not burning the sugar when you make kettle corn is to add the sugar off the heat at the end of popping. The wok will be hot enough to caramelize it.

2 tablespoons coconut oil

6 tablespoons popcorn

2 tablespoons raw brown sugar

Kosher salt to taste

1. Place the coconut oil in a 14-inch lidded wok over medium heat. When the coconut oil melts add a few kernels of popcorn and cover. When you hear a kernel pop, quickly lift the lid and pour in all of the popcorn. Cover, turn the heat to medium-low, and cook, shaking the wok constantly, until you no longer hear the kernels popping against the lid. Turn off the heat, uncover and add the sugar and salt. Cover again and shake the wok vigorously for 30 seconds to a minute. Transfer the popcorn to a bowl, and if there is any caramelized sugar on the bottom of the wok scrape it out. Stir or toss the popcorn to distribute the caramelized bits throughout, and serve.

Yield: About 12 cups popcorn

Advance preparation: This is good for a few hours but it will probably disappear more quickly than that.

Nutritional information per cup: 59 calories; 3 grams fat; 2 grams saturated fat; 0 grams polyunsaturated fat; 0 grams monounsaturated fat; 0 milligrams cholesterol; 8 grams carbohydrates; 1 gram dietary fiber; 1 milligram sodium (does not include salt to taste); 1 gram protein

 

​Up Next: Granola

Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”

Read More..

Recipes for Health: Not-Too-Sweet Wok-Popped Coconut Kettle Corn

Andrew Scrivani for The New York Times

Not-too-sweet coconut kettle corn.

I’m usually not a big fan of sweet kettle corn, but I wanted to make a moderately sweet version because some people love it and it is nice to be able to offer a sweet snack for the holidays. I realized after testing this recipe that I do like kettle corn if it isn’t too sweet. The trick to not burning the sugar when you make kettle corn is to add the sugar off the heat at the end of popping. The wok will be hot enough to caramelize it.

2 tablespoons coconut oil

6 tablespoons popcorn

2 tablespoons raw brown sugar

Kosher salt to taste

1. Place the coconut oil in a 14-inch lidded wok over medium heat. When the coconut oil melts add a few kernels of popcorn and cover. When you hear a kernel pop, quickly lift the lid and pour in all of the popcorn. Cover, turn the heat to medium-low, and cook, shaking the wok constantly, until you no longer hear the kernels popping against the lid. Turn off the heat, uncover and add the sugar and salt. Cover again and shake the wok vigorously for 30 seconds to a minute. Transfer the popcorn to a bowl, and if there is any caramelized sugar on the bottom of the wok scrape it out. Stir or toss the popcorn to distribute the caramelized bits throughout, and serve.

Yield: About 12 cups popcorn

Advance preparation: This is good for a few hours but it will probably disappear more quickly than that.

Nutritional information per cup: 59 calories; 3 grams fat; 2 grams saturated fat; 0 grams polyunsaturated fat; 0 grams monounsaturated fat; 0 milligrams cholesterol; 8 grams carbohydrates; 1 gram dietary fiber; 1 milligram sodium (does not include salt to taste); 1 gram protein

 

​Up Next: Granola

Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”

Read More..

Influx of Cash in Asia Raises Familiar Worries

HONG KONG — To all the concerns that cloud Asia’s growth prospects next year — the fiscal measures set to take effect in the United States, the euro zone debt crisis and the uncertain growth trajectories of China and Japan — add one more: a renewed flood of cash into some of the region’s more dynamic economies.

Asia’s fast-growing economies have weathered a tough 2012 relatively well, and economists say that unless the U.S. and euro zone economies take a sharp hit in 2013, the region could pick up steam again next year.

But that good news comes with a price tag. Analysts have begun to warn recently that Asia’s relative economic buoyancy could once again attract large amounts of cash, possibly leading to a repeat of what happened two years ago.

Back then, big inflows, mostly from the West, caused many emerging-market currencies to surge and prompted talk of “currency wars” as central bankers scrambled to keep their currencies from rising too fast.

Now, with growth in Asia picking up, and central banks in developed nations stepping up their efforts to oil the wheels of their beleaguered economies, the influx of cash is again starting to have worrying side effects.

Property prices, for example, have risen across much of the region. The South Korean won has climbed more than 5 percent against the U.S. dollar since late August. The Philippine peso has risen about 4 percent, to its highest level since early 2008. The Taiwan dollar, the Thai baht and the Malaysian ringgit also have strengthened.

“We could be heading back towards where we were in 2010,” said Frederic Neumann, regional economist at HSBC in Hong Kong. “Capital is pouring back into emerging Asia.”

Next year, said Rob Subbaraman, chief economist for Asia ex-Japan at Nomura in Hong Kong, “could be a bumper year” for net capital inflows. “The stars are aligned.”

For many parts of the world, a tide of capital would be a blessing. The United States, Europe and Japan have spent much of the last four years trying to reinvigorate their economies by lowering rates and injecting cash into strained financial systems through purchases of financial assets.

More is in store.

Last Wednesday, the U.S. Federal Reserve announced that it would continue to buy large amounts of Treasury securities and mortgage-backed securities until the job market improved.

Likewise, the Japanese central bank may step up its existing asset-buying and lending program at a policy meeting this week, analysts believe.

Over the years, some of that liquidity has seeped into parts of the world where growth is faster and returns are higher. The amounts of money flowing into developing Asia have, at times, been vast. During the rush in late 2009 and 2010, David Carbon, an economist at DBS in Singapore, estimated, the region saw inflows to the tune of $2 billion a day, for example.

Economists at the Japanese bank Nomura estimate that between early 2009 and mid-2011, net capital inflows to Asia, excluding Japan, totaled $783 billion — far more than the $573 billion that came in during the preceding five years.

The renewed inflows in recent months have not been so large. Moreover, not all countries have attracted cash in equal measure. Investors have been wary this year of India’s seeming inability to push through important economic overhauls, for example. That has caused the rupee to sag more than 11 percent since February. China, meanwhile, restricts incoming foreign investments to relatively small amounts.

Elsewhere in the region, however, there are signs of renewed pressure.

An index compiled by Nomura that gauges capital inflow pressures has risen in recent months, said Mr. Subbaraman, the Nomura economist. Although it remains below where it was during the spike in 2010, it is now at its highest since May 2011.

Said Mr. Neumann of HSBC, “currencies have strengthened despite resistant central banks, real estate markets are frothing away, and lending to consumers and companies has accelerated.”

All of that has reignited the concerns that traditionally accompany major — and potentially fickle — capital inflows.

For exporters, stronger currencies are a headache, as they make the exporters’ goods more expensive for consumers elsewhere.

For ordinary citizens, rising property prices make homes increasingly unaffordable. Soaring property prices are also vulnerable to painful reversals if conditions change.

Underscoring that point, the International Monetary Fund warned on Wednesday that a sharp rise in house prices in Hong Kong raised “the risk of an abrupt correction.”

Likewise, a big increase this year in corporate bond issuance — while a positive in that it supports growth and diversifies corporate funding — bears risks.

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