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Oct 8, 2012
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How do India’s markets spell relief? Chidambaram

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

How do India’s investors spell relief? Palaniappan Chidambaram. Stocks have soared since word broke in June that the urbane lawyer might take a third turn as finance chief. His return in August has proved an antidote to the errors of his predecessor Pranab Mukherjee, and has revived foreign buying. But the rally will only last if the latest reforms boost flagging growth.

Oct 8, 2012

Breakingviews – How do India’s markets spell relief? Chidambaram

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own)

By Wayne Arnold

HONG KONG (Reuters Breakingviews) – How do India’s investors spell relief? Palaniappan Chidambaram. Stocks have soared since word broke in June that the urbane lawyer might take a third turn as finance chief. His return in August has proved an antidote to the errors of his predecessor Pranab Mukherjee, and has revived foreign buying. But the rally will only last if the latest reforms boost flagging growth.

Oct 4, 2012
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Indonesia may be unfairly tarred by Bumi’s brush

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Bumi Resources is not a metaphor for Indonesia. The heavily indebted coal miner, currently at the centre of a financial probe and corporate governance spat, has said it may have to sell assets or shares. With coal prices weak, the drama at Bumi Resources spells more trouble for creditors and shareholders, including those of its London-listed parent. Indonesia must hope it is not unfairly tarred by the association.

Sep 18, 2012
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Markets sagely dismiss China’s anti-Tokyo tantrums

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Investors aren’t particularly bothered by China’s anti-Tokyo protests. While smashed cars and shuttered factories are worrying, the two countries have more to lose in trade and investment than to gain from tit-for-tat reprisals. Companies that are big in China like Nissan may suffer in the short-term, but Japan Inc. has more to fear from U.S. Federal Reserve chairman Ben Bernanke than from Beijing.

Sep 14, 2012
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QE3 honeymoon may be brief for emerging markets

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The QE3 honeymoon may be disappointingly brief for emerging markets. The U.S. Federal Reserve’s promise to buy mortgage-backed bonds into the indefinite future could lift all boats for a while. But the flood of dollars might soon frighten investors, as well as vexing central bankers everywhere but the United States.

Sep 11, 2012
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Coal’s slide poses broader risks for Indonesia

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Coal’s slide poses a problem for Indonesia. As the biggest exporter of coal used for generating power, the country’s fortunes might seem directly tied to China and India’s economic slowdown. In fact, exports account for only a sliver of GDP. The bigger risk is that falling demand spooks foreign investors, undermines a provincial boom, and hurts poor workers.

Aug 7, 2012
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Japan Inc’s earnings tell worrisome global story

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

At first glance Japan Inc’s earnings look dazzling. Operating profits at the country’s four biggest manufacturers quintupled in the latest quarter, relative to same period last year. Growth in the U.S. and a post-tsunami rebound in Japan overwhelmed the drag from weaker economies in Europe and China. But the message is actually more sobering: the buffer from such slow-growth economies is unlikely to last.

Aug 3, 2012
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Investors may be happy to ride on renovated JAL

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Japan Airlines’ plans to raise roughly $8.5 billion in an IPO may seem a heavy lift amid weak global markets and a perennially limping aviation industry. But big funds will likely clamor for seats on a flight fueled by a mix of government largesse and one of Japan’s most promising turnaround stories.

Jul 25, 2012
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Asian conglomerate owners owe Heineken a toast

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By Wayne Arnold

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Fraser and Neave’s shareholders may wind up raising a glass to Heineken. The Dutch brewer’s $6 billion bid for their Tiger beer venture, Asia Pacific Breweries, should catalyze the independent directors of the Singapore drinks and property group to consider a full-blown breakup. Even after F&N’s recent stock run-up, its pieces are worth some 20 pct more than the whole.

Jul 17, 2012

What if banks boycott Libor?

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By Peter Thal Larsen and Wayne Arnold

LONDON/SINGAPORE, July 17 (Reuters Breakingviews) – What
would happen if banks abandoned Libor? The Barclays (BARC.L: Quote, Profile, Research)
scandal has prompted lenders to rethink their role in setting
interest rates. A mass boycott of the London Interbank Offered
Rate could throw markets into a tailspin. Regulators need to
decide urgently how the benchmark for hundreds of trillions of
dollars of contracts should be reformed.

    • About Wayne

      "Wayne Arnold is Breakingviews’ Hong Kong based Asia strategist, with 20 years of experience in the region. From 1999 to 2008, he served as the Southeast Asia business and finance correspondent for The New York Times and the International Herald Tribune. In 2008 he helped launch a new daily newspaper in Abu Dhabi, The National, where as its economics columnist, he chronicled Dubai’s financial meltdown. He was previously a columnist and reporter at the Wall Street Journal in Hong Kong and Bloomberg in Tokyo. His stories have spanned from Japan’s financial collapse in 1991 to the global economic crisis. ..."
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