Reuters blog archive
from The Human Impact:
Tri Widayati is the first woman in her family - and her village too, she thinks - to find employment. At 18, soon after graduating from high school, she left her small village in Klaten regency in Central Java for Bekasi, a satellite town of the capital, Jakarta.
“Every woman in my village, once they get married, they just stay at home and look after the children,” including her mother and sister, Tri said.
“I wanted to come here for self improvement. If I had just stayed in the village it would be the same old life and there’d be no progress,” she said, sitting in the office of a workers’ union in Bekasi.
It was the end of March and I was in Bekasi to speak to female migrant workers employed in hundreds of factories here. I wanted to get a sense of how they live and work, what they thought of the imminent parliamentary elections and where they see Indonesia heading on women’s rights.
from John Lloyd:
India’s 815 million voters started the five-week voting cycle earlier this week. It’s already being celebrated as a triumph just for taking place -- “the largest collective democratic act in history,” according to the Economist.
The winner will matter. India now punches far below its demographic weight -- its 1.24 billion people are served by just 600 diplomats, about the same number as the Netherlands. The United States, with 314 million people, has 15,000. But that apparent lack of interest in making a mark on the world seems about to end.
By Andy Mukherjee
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
A win for Narendra Modi would be bad news for Tesco and its rivals, but good news for other investors. The Indian opposition leader’s party says it won’t allow foreign supermarkets to enter the country if it wins the general election. But that is just one discordant note in a manifesto that is sweet music to financial markets.
from The Great Debate:
On Saturday, Afghans will go to the polls to elect a new president, marking a critical turning point in Afghanistan's history and our role in the country.
This election comes at an important time in U.S.-Afghan relations, which have been hindered by the erratic and often insulting behavior of President Hamid Karzai. The outcome will present an opportunity for the United States to redefine our relationship with Afghanistan in a way that addresses our shared security concerns and the long-term stability and viability of the country.
Investors have spent months looking askance at Turkey’s corruption scandal and Prime Minister Tayyip Erdogan’s response to it – purging the police and judiciary of people he believes are acolytes of his enemy, U.S.-based cleric Fethullah Gulen. But it appears to have made little difference to his electorate.
Erdogan declared victory after Sunday’s local elections and told his enemies they would now pay the price. His AK Party was well ahead overall but the opposition Republican People's Party (CHP) appeared close to seizing the capital Ankara.
from The Great Debate:
Is Turkish leader crazy, or crazy like a fox?
Confronted by a series of revelations involving corruption, Turkey’s Prime Minister Tayyip Erdogan countered by banning Twitter by court order last Friday. He has now moved onto other social media networks -- blocking YouTube on Thursday.
Though another court ordered Erdogan’s Twitter ban to be lifted this week, his repressive regime looks intent on lashing out at social media as part of a broad policy aimed at controlling the important municipal elections on Sunday.
Another crunch week in the East-West standoff over Ukraine kicks off today with Barack Obama in the Netherlands for a meeting of more than 50 world leaders at a nuclear security summit in the Netherlands. There, he and his fellow G7 leaders will hold separate talks on Ukraine.
Obama upped the ante on Vladimir Putin last week with sanctions that hit some of his most powerful allies and strayed firmly into Russia’s banking and corporate world. The EU acted more cautiously but is looking at how financial and trade measures would work, getting ready in case Putin escalates the crisis further.
from India Insight:
By Sankalp Phartiyal and Ankush Arora
India’s benchmark indexes ended lower this week after scaling fresh peaks on Tuesday. The Sensex ended the week down 0.26 percent in its second consecutive week of falls. Indian markets were shut on Monday for a public holiday.
While strong buying by foreign investors bolstered blue chips, profit-booking and worries U.S. interest rates would rise sooner than expected kept shares under pressure.
The annual UK budget is always a big set piece but it’s hard to remember one where there have been fewer advance leaks – indicative of a steady-as-she-goes approach by George Osborne.
Having put so much political capital into reducing the deficit, to switch now at a time when the economy is recovering strongly would be politically risky. And with debt falling only slowly there is little fiscal leeway.
That’s not to say this isn’t a big political moment. Yes there is the finance minister’s autumn statement and another budget before May 2015 elections but this is the moment when the narrative for the economy and Britons’ wellbeing is staked out.
from Global Investing:
Should Indian shares really be at record highs?
The index is up 3.6 percent this year. Foreign funds have been pouring money into Mumbai shares, betting that the opposition BJP, seen as more reform-friendly than the incumbent Congress, will form the next government. They purchased $420 million worth of Indian stocks last Friday, having bought $1.4 billion over the past 15 trading sessions.
There is also the fact that the rolling crisis in emerging markets, having smacked India during its first round last May, has now moved on and is ravaging places such as Russia and Nigeria instead. The rupee has firmed almost 2 percent this year to the dollar, as last year's 6.5 percent/GDP current account deficit has contracted to just 0.9 percent of GDP. Many international funds such as Blackrock and JPMorgan Asset Management have Indian stocks on overweight and Bank of America/Merrill Lynch's monthly survey showed investors' underweight on India was one of the smallest for emerging markets.