If electoral success were measured by publicity alone, Arvind Kejriwal could rightly claim victory in the tumultuous first day of the Indian election campaign.
Hours after the Election Commission announced dates and details of the general election to be held in April and May in the world’s biggest democracy, Mr Kejriwal of the Aam Aadmi (Common Man) Party was publicly arrested in Gujarat, the stronghold of his main rival Narendra Modi of the Bharatiya Janata Party. Continue reading »
It’s the ultimate frontier market. On the top floor of a building in the Himalayan town of Thimphu are the modest headquarters of the Royal Securities Exchange of Bhutan, which has just 11 employees, 21 listed companies, four brokers and a turnover that sometimes barely exceeds 10m ngultrum ($160,000) a month.
“We haven’t yet established all the fundamentals of a capital market,” says Dorji Phuntsho, chief executive of the exchange, acknowledging that some of the latest prices shown date back to the 1990s. “It’s embarrassing that the shops are open but there are no customers.” Continue reading »
Even when the World Trade Organisation’s relevance is being questioned as it is today, it is not much fun to be a small emerging economy left on the outside of such a broad-based and commercially significant multinational body.
So while India’s demands to protect its food subsidies at the WTO meeting in Bali threaten to derail the first global trade deal in a generation, India’s neighbour, the landlocked Himalayan Kingdom of Bhutan, is once again wondering whether it ought to join. Continue reading »
Triumph, the classic British motorcycle marque revived by property millionaire John Bloor more than two decades ago, launched itself into the Indian market on Thursday as part of a drive into increasingly prosperous emerging markets.
“We think the market is bubbling up and this is the right time for Triumph to enter,” Vimal Sumbly, managing director of Triumph Motorcycles in India, said at an event in New Delhi to launch the company’s assembly and sales operation in the country. Continue reading »
They say timing is everything in business, and the Indian guar gum producers who invested in new capacity early last year – just as the US fracking business realised it needed thousands of tonnes of the stuff in a hurry – either got lucky or timed their market entry to perfection. But is the multi-billion dollar boom in this once obscure commodity now over? Continue reading »
The deadly fire at a clothing factory in the Bangladeshi capital Dhaka in November, in which 117 workers died, could have consequences for the country’s exports as well as for its tarnished reputation as a manufacturing power. Continue reading »
Palaniappan Chidambaram, the Indian finance minister, will continue what he sees as his lonely battle to promote much-needed economic growth after the Reserve Bank of India left interest rates unchanged in its latest decision on Tuesday.
The central bank said in its mid-quarter policy review that it was leaving the policy repo rate unchanged at 8.0 per cent. Nor was there any change to the 4.25 per cent cash reserve ratio for banks. Continue reading »
India’s finance ministry has issued a new and gloomier forecast for annual economic growth, predicting that gross domestic product will rise 5.7-5.9 per cent in the fiscal year to March – compared with its original forecast for the year of 7.6 per cent.
In reality, however, the new numbers published in a mid-year economic analysis for 2012-13 paint an outlook even rosier than independent economists, the International Monetary Fund and government officials have been suggesting for the past several months. Continue reading »