Commentaries

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Rethinking carbon diplomacy

Climate change was initially billed in a leading role at the G20 meeting in Pittsburgh. Now it looks set to make the briefest of cameo appearances.

Nonetheless, the gathering offers a crucial chance to recast the talks. The United Nations carbon process is in deep trouble and desperately needs help from the top. If the G20 heads of government want to avoid embarrassment at the Copenhagen Summit, they need to start to steer the talks in a new direction.

The first step is to move away from the flawed Kyoto model on which the talks are based. Haggling over overall emissions caps is unproductive. Nations have an incentive to push for targets that are easy to hit — giving themselves plenty of headroom in the event of faster economic growth.

Even then, it is hard to check up on compliance, since countries like China and India lack the ability to track their emissions.

from The Great Debate:

Forget Microsoft, Yahoo’s value is overseas

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-- Eric Auchard is a Reuters columnist. The opinions expressed are his own --

eric_auchard_columnist_shot_2009_june_300_px2The fate of Yahoo Inc has become intertwined in the public's imagination with the success or failure of its dealings with Microsoft Corp in recent years.

That's despite the fact that as much as 70 percent of the value investors put on Yahoo's depressed shares are tied up in its international assets or cash holdings -- factors that have nothing to do with Microsoft.

Dry spell should bring change to India

India is high on the list of candidates to help lead the world out of the current recession. The country weathered the global downturn remarkably well and looked poised to race ahead in coming years. Against this backdrop, the modest slowdown in growth caused by this year’s weak rainfall is little more than an annoying speed bump.

But the dry spell should sound an alarm to India’s politicians. Years of misguided agricultural policy have indisputably made the situation worse. Greater investment in irrigation and hardier crops could have halved the economic damage from a lackluster monsoon. More crucially, an overhaul of India’s farming policy could help close the gap with China — which has grown more than twice as fast since 1980.

Bracing for bar brawl in mobile phone emerging markets

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The last thing that the complex negotiations between India’s Bharti and South Africa’s MTN Group to create the world’s third largest mobile phone company needed is more complexity. The existing deal involving an intricate mix of cash and stock is further complicated by currency fluctuations and diverging growth rates between the maturing Indian market and the wide-open African one.

Zain's footprint in Africa and Middle EastBut if a third company, Zain of Kuwait, succeeds in starting up a full-scale bidding war for itself, the Bharti-MTN deal could come off the rails and fall apart.  Zain’s CEO told Kuwaiti daily Al-Rai on Monday that it is in talks with three major, but so-far unnamed telecom firms, including one from India. Last month, Zain said it was reviewing the possible sale of its far-flung African operations after French conglomerate Vivendi called off talks to buy a majority of Zain’s African business.  A Vivendi spokesman says nothing has changed since then. There’s no word yet from other obvious suspects — France Telecom or Vodafone — on whether they are interested.

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