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In India’s current hard-fought Parliamentary elections, every vote counts. So along with the usual process of aggressive campaigning, some parties appear to be resorting to a little old-fashioned political skulduggery to sabotage the prospects of their rivals.

At least, that is that what the upstart Aam Aadmi, or Common Man, Party (AAP) believes is happening to it, especially in its stronghold New Delhi, where an unexpected wave of support for AAP prevented the rival Bharatiya Janata Party (BJP) from winning enough seats to form the local government in recent state assembly polls. Continue reading »

** FT News **

* Bumi divorce sealed in Twitter acrimony | Interchange was a fitting sulphurous coda to a disastrous business tie-up between Mr Rothschild and the Bakrie family

* PBoC steps in to calm China bank run | China’s central bank acts to reassure depositors after concerns over a small rural lender sparks demand for cash withdrawals Continue reading »

A cartoon in a Mexican newspaper last week said it all: there are Adam and Eve, in the Garden of Eden, gazing wistfully at the forbidden fruit. But it’s not an apple. It’s a lime.

Just about everything to eat in Mexico gets served with a wedge of lime, but buying them lately has been tricky. At one recent Sunday market in Mexico City, stallholders rolled their eyes when asked for what is normally the most ubiquitous of fruit. “No, too expensive,” was the answer rolled out at stall after stall.

Continue reading »

Standard & Poor’s, the international rating agency, cut Brazil to one notch above junk on Monday evening, adding to a chorus of complaints from many in the investment community, not to mention ordinary Brazilians, that the country’s once-promising growth story is currently shot to pieces.

No prizes for guessing how that went down in Brasília. As if to remove any doubt, the finance ministry put out a strongly-worded statement, rubbishing S&P’s decision point by point. But the ministry hasn’t done itself any favours. Continue reading »

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Arvind Kejriwal, leader of the anti-corruption Aam Aadmi (Common Man) Party, has turned Indian electoral logic on its head. Instead of selecting a safe constituency from which to vault into a parliamentary seat, he threw down the gauntlet on Tuesday to front-running prime ministerial candidate Narendra Modi, challenging him in a Hindu heartland.

“I have no fascination to become an MP. Otherwise, I also could have chosen a safe seat, like other politicians,” Kejriwal said. “I am ready to fight Modi in Varanasi. I invite him for an open debate in Varanasi.” Continue reading »

Has the Great Magyar Rate-Cutting Cycle come to an end? To many, it looks that way, following the central bank’s decision on Tuesday to snip just 10 basis points off the base rate, to leave it at 2.6 per cent a year.

And even this trim, the smallest made so far in a 20 month long trimming spree, is possibly more symbolic, an effort to keep up the momentum in front of elections, scheduled on April 6, just 12 days hence. Continue reading »

By Jeffrey Winters of Northwestern University

Indonesia’s political parties are not bottom-up institutions. They are more like a conical lamp over a billiard table: intense and bright at the narrow top, faint and dim towards the bottom. Ever since the Communist Party was butchered in the mid-1960s, no Indonesian party has been interested in arousing passions among the citizenry or engaging them in politics. Continue reading »

The looming general election just got more exciting, as Arvind Kejriwal, leader of the anti-corruption Aam Aadmi Party has declared he will go head to head with Narendra Modi and stand from Varanasi.

Meanwhile, the prospect of a change of government is already hitting policy as the Election Commission has said it may delay the gas price hike scheduled for next month – something the opposition Bharatiya Janata Party is questioning. Continue reading »

India ElectionsLet us again assume, for the sake of argument, that Narendra Modi will become India’s prime minister shortly after May 16. Who, then, is most likely to succeed Palaniappan Chidambaram as finance minister? Here are five of the most likely candidates. Continue reading »

** FT News **

* Funds cut Russian holdings | Investors are beginning to wonder what the long-term consequences of the heightened geopolitical conflict and sanctions will be for Russia Inc

* Europe shrugs off meek Asia session | Asian bourses take their cue from a decline on Wall Street as investors sold out of growth stocks as reverberations from Fed comments on US interest rate rise continue

* Stocks retreat after weak China data | Markets start week in downbeat mood after HSBC ‘flash’ PMI data show China’s manufacturing engine contracting for a third successive month Continue reading »

Chinese steel mills were suffering a medley of woes in mid-March as sales slowed, production levels slumped and profits plunged, according to an investment bank survey published on Tuesday that foreshadows the rising risk of debt defaults in the world’s largest steel producer.

Macquarie Commodities Research, quoting a proprietary survey of Chinese steel mills and traders conducted in mid-March, found that large, medium and small steel mills were all enduring a contraction in orders compared to the same period in February, and profits had declined to historic lows. Continue reading »

** FT News **

* Russia braced for $70bn in outflows | Andrei Klepach said capital outflows in the first quarter are expected to be closer to the top end of a $65bn-$70bn government estimate

* Weak Wall Street session undermines Asia | Asian bourses take their cue from a decline on Wall Street as investors sold out of growth stocks as reverberations from Fed comments on US interest rate rise continue Continue reading »

We have heard a lot about how unreliable opinion polls are in the world’s largest democracy. But there is another – albeit less legitimate – barometer of political sentiment in India and that’s the country’s vast and lively gambling industry.

Behind cricket, elections are the biggest business for India’s clandestine gambling industry, where bookies often masquerade as shops or stock market brokerages. “If you don’t know them through a contact you won’t even know that these are bookies,” says Jay Sayta, who runs a blog on gambling laws in India. Continue reading »

By Adithep Vanabriksha, Aberdeen New Thai Investment Trust

Thailand, the famed ‘Land of Smiles’, has been a lot less joyful during months of anti-government street protests in Bangkok.

Violent demonstrations, legal challenges, a botched election and the fallout from a misguided policy of rice subsidies that the government is struggling to honour have rocked the administration of Yingluck Shinawatra, the prime minister. Continue reading »

The hoped-for export boom would then, so the theory went, help repair a key frailty of emerging economies such as the so-called “fragile five” of India, Indonesia, South Africa, Turkey and Brazil by narrowing their current account deficits. Continue reading »

Recent comments

  • Comment by ShortStop
    Worth bringing up is the credit rating downgrades of PBR, Vale, Electrobras, too. The writer fairly points out that the Brazilian government authoriti ...
  • Comment by wallaby
    Dear ferenc TARR, Are you interested in my idenetity or in the numbers/truth about national debt? (We can leave the rest, it was for outsiders to ge ...
  • Comment by Nabonid
    I wonder about Mr Gyurcsánys honesty. (See: https://www.youtube.com/watch?v=fTp7TEAT9Y8). Can we rely on his opinion? ...
  • Comment by 3p
    Good article. Ukraine is a great country that has been badly failed by its politicians and business elites. I really feel that Ukraine now has one l ...
  • Comment by wallaby
    About real identity: people get fired from their job simply for participating in a protest. MANY such cases were reported! ...




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