Frank Jack's Feed
Dec 17, 2012

Fight over caste threatens economic reform plans

NEW DELHI (Reuters) – A battle over affirmative action for low castes threw parliament into disarray on Monday, threatening to derail the government’s ambitious timetable for passing reforms this week that are aimed at opening up Asia’s third-largest economy.

The Lok Sabha was due to vote on a bill to attract more foreign investment to banking, but proceedings were repeatedly disrupted by members of parliament angry at a plan to allow lower castes preferential promotions in government jobs.

Dec 17, 2012

Fight over caste threatens India’s economic reform plans

NEW DELHI (Reuters) – A battle over affirmative action for low castes threw the Indian parliament into disarray on Monday, threatening to derail the government’s ambitious timetable for passing reforms this week that are aimed at opening up Asia’s third-largest economy.

The lower house of parliament was due to vote on a bill to attract more foreign investment to banking, but proceedings were repeatedly disrupted by members of parliament angry at a plan to allow lower castes preferential promotions in government jobs.

Dec 14, 2012

Iran negotiator says not optimistic on nuclear talks with West

NEW DELHI (Reuters) – A member of Iran’s nuclear negotiation team said talks between Iran and big Western powers were unlikely to yield results and it doesn’t make sense for Tehran to stop enriching uranium to 20 percent fissile purity.

“Personally speaking, I am not optimistic,” Mostafa Dolatyar told reporters at the Iranian embassy in New Delhi on Friday.

Dec 5, 2012

Key political risks to watch in India

NEW DELHI, Dec 5 (Reuters) – India’s economy is likely to
grow at the slowest rate in a decade this year despite a spurt
of economic reforms, and a busy electoral calendar will make
managing a gaping fiscal deficit increasingly difficult to
manage over the next few months.

RATINGS (Unchanged unless stated):

S&P: BBB-

MOODY’S: Baa3

FITCH: BBB-

Following is a summary of key political risks in India:

ELECTIONS AND ECONOMY

India’s economy is set for its worst performance in a decade
after three consecutive quarters of growth near 5.5 percent.
High government spending has led to a fiscal deficit that
economist say is likely to hit 5.6 percent this year,
exacerbated worse by a fall in revenues.

Nov 30, 2012

India’s GDP growth languishes, headed for decade low

NEW DELHI (Reuters) – India’s economy extended its long slump in the last quarter, with lower-than-expected growth keeping it on track for its worst year in a decade and underscoring the urgency of politically difficult reforms to spur a revival.

The economy grew 5.3 percent from a year earlier in the July-September period, provisional gross domestic product (GDP) data showed on Friday, below the 5.5 percent posted for the three months ending in June.

Nov 24, 2012

China puts Himalayan claims on passport map

NEW DELHI (Reuters) – India is stamping its own map on visas it issues to holders of new Chinese passports that contain a map depicting disputed territory within China’s borders, the latest twist in tension in Asia over China’s territorial claims.

China’s new microchip-equipped passports contain a map that marks its claims over disputed waters and also show as its territory two Himalayan regions that India also claims.

Nov 23, 2012

China puts Himalayan claims on passport map, India maps its own

NEW DELHI (Reuters) – India is stamping its own map on visas it issues to holders of new Chinese passports that contain a map depicting disputed territory within China’s borders, the latest twist in tension in Asia over China’s territorial claims.

China’s new microchip-equipped passports contain a map that marks its claims over disputed waters and also show as its territory two Himalayan regions that India also claims.

Nov 18, 2012

Insight: Sri Lanka’s “people’s dynasty” – help or harm for growth?

JAFFNA, Sri Lanka (Reuters) – From foreign hotel towers sprouting on Colombo’s seafront to the new motorbikes and mobile phones buzzing in war-ravaged Jaffna, at first glance, Sri Lanka seems to be living up to its claim as Asia’s latest frontier market.

But private businesses are not investing enough, threatening the boom that has swept the island since the end of a long ethnic conflict, while President Mahinda Rajapaksa and his family are tightening their grip on the economy and institutions with what critics see as an unusually personalized system of government.

Nov 18, 2012

Sri Lanka’s “people’s dynasty” – help or harm for growth?

JAFFNA, Sri Lanka, Nov 19 (Reuters) – From foreign hotel
towers sprouting on Colombo’s seafront to the new motorbikes and
mobile phones buzzing in war-ravaged Jaffna, at first glance,
Sri Lanka seems to be living up to its claim as Asia’s latest
frontier market.

But private businesses are not investing enough, threatening
the boom that has swept the island since the end of a long
ethnic conflict, while President Mahinda Rajapaksa and his
family are tightening their grip on the economy and institutions
with what critics see as an unusually personalised system of
government.

Nov 14, 2012

Suu Kyi asks India to stand by democracy in Myanmar

NEW DELHI (Reuters) – Opposition leader Aung San Suu Kyi urged India on Wednesday to stand by Myanmar on its journey to democracy, on her first trip to Myanmar’s neighbour since it dropped its support for her democracy movement two decades ago in favour of the ruling junta.

Suu Kyi spent part of her youth in Delhi and was close to independence leader Jawaharlal Nehru but, after first backing her democracy movement, India began courting the junta as part of a “Look East” policy partly aimed at competing with China.