iFive: Branson on Fun, Asia Nobels, China Water Projects, BP Destroys Fisheries, Iraq Loses Electricity

All you need to know right now, from shrimps to billionaires.

While you drifted off, BP stole livelihoods (again), Richard Branson blogged about being in business for funsies, and some new competitors arose in Asia.

1. Fishermen and seafood consumers fear for their lives, as brown spew hits supposedly safe fisheries along the coast. Damn you, BP! Even if you are trying to permanently cap the spill, we want our shrimp!

2. Branson tells the world on his blog that having fun is important in work. "You have got to have a passion for what you are doing," writes Branson. Umm, yeah, we’d also be having fun if we were hanging out on the boat like that without a financial concern in the world, Mr. Billionaire.

3. A handful of Asian nationals in fields like the environment and disability rights were named recipients of Asia’s "Nobel Prize" over the weekend. The Ramon Magsaysay awards come out of the Philippines and this year honor mayor Tadatoshi Akiba of Hiroshima, and photographer Huo Daishan, among others.

4. Hyflux and Matsui & Company are joining hands in a 50-50 joint venture, Galaxy NewSpring, to develop water projects in China, including water treatment plants. Let’s just hope they’re more careful than China’s National Petroleum Corp (read: oil spill) and Dongyuan Dairy Factory (read: tainted milk).

5. Iraq has yet another burden on its shoulder: electricity thieves. On top of the sweltering heat during these summer days, I don’t think they’re too happy about that. Electricity is hard to come by there, despite the United States investment of $5 billion in electricity projects.

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