Archive for ‘Chindia Alert’

13/05/2014

India stocks, rupee rise as exit polls tip BJP win – Businessweek

India’s stock market and currency rallied Tuesday on exit polls predicting election victory for a pro-business party and its allies.

Flag of the Bharatiya Janata Party (BJP), a na...

Flag of the Bharatiya Janata Party (BJP), a national political party in India. (Photo credit: Wikipedia)

Official election results are expected on Friday, but exit polls by at least six major Indian TV stations show the Hindu nationalist Bharatiya Janata Party likely to win enough seats to form a coalition government.

The Sensex stock index rose more than 2 percent to an all-time high of 24,068.94 before paring its gain and closing at 23,871.23.

via India stocks, rupee rise as exit polls tip BJP win – Businessweek.

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13/05/2014

India Poll Prospects Drive Auto Shares – India Real Time – WSJ

Shares of most automobile companies in India surged on Tuesday on expectations that the pro-business Bharatiya Janata Party will emerge victorious when national election results are announced Friday.

Maruti Suzuki India Ltd.532500.BY +1.97%, Mahindra & Mahindra Ltd.500520.BY +1.40%, Tata Motors Ltd.500570.BY +0.81%, Ashok Leyland Ltd.500477.BY +1.19% and Hero MotoCorp Ltd.500182.BY +3.17% were trading around their 52-week highs when markets closed Tuesday evening.

“This (share-buying) is mainly sentiment-driven,” said an analyst at a Mumbai-based brokerage, who did not wish to be named.  He expected auto shares to trade even higher if a BJP-led government with a clear majority were to emerge the winners of India’s federal election.

The analyst said investors are hoping that a government led by BJP’s Prime Ministerial candidate Narendra Modi would take strong steps to revive economic growth, increase foreign investment, and boost industrial growth, which would in turn improve market sentiment and demand for new vehicles in India, the world’s sixth-largest car producing market.

via India Poll Prospects Drive Auto Shares – India Real Time – WSJ.

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13/05/2014

China’s President Gets a ‘Heavenly’ New Pony – China Real Time Report – WSJ

Xi Jinping is adding a new mane man to his stable of advisers.

The Chinese president is the proud new owner of a Turkmen racehorse, according to China’s official Xinhua News Agency. On Monday, Turkmenistan President Gurbanguly Berdymukhamedov gave Mr. Xi the horse, an Akhal-Teke, a Turkmen breed known for exceptional speed and endurance, as a gift of friendship during his four-day visit to Beijing. The visit was intended to boost the natural gas trade between the two countries.

The gift has historic resonances. Former presidents Hu Jintao and Jiang Zemin were also given Turkmen horses on similar occasions, which currently reside in China’s presidential stable at the Hanxue Baoma Breeding Center in China’s northern city of Tianjin, the same home that also awaits Mr. Xi’s new stallion.

It’s also believed that if leaders ride the horse, they’ll follow the path of one of China’s bravest emperors Li Shimin, who ruled from 626 to 649AD and was known to ride the breed. The emperor led China into one of its most famous, celebrated and culturally rich eras, that of the Tang dynasty. In China, affection for such horses traces back still further in history to around 113 BC, when the emperor at the time was so intrigued on hearing reports about such horses from his ambassadors that he apparently went to war with his neighbors, in part to try and bring some back for his own court. (He succeeded, and dubbed the steeds he brought back “heavenly” horses.)

via China’s President Gets a ‘Heavenly’ New Pony – China Real Time Report – WSJ.

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13/05/2014

2 Million Boxes Sold: China Goes Coconuts for Premier-Approved Candy – China Real Time Report – WSJ

Thanks to one Chinese leader’s sweet tooth, one candy maker is feeling pretty happy.

Over the past month, the Hainan-based Wenchang Chunguang Foodstuff Co. has sold about two million boxes of candies, each respectively comprised of a box of “coconut chips” and a box of “coconut milk roll.” The reason? Chinese premier Li Keqiang recently made a similar purchase at a convenience store during a visit in Haikou, capital city of southern Hainan province.

“The demand has been incredibly intense. At the beginning, no matter how fast we produced them, we still couldn’t meet the consumer demand,” Hainan-based sales manager Wu Sisi told China Real Time.

For those of you who might not be familiar with the contents of the “premier set,” the so-called “coconut milk rolls” are comprised of rolled wafers stuffed with coconut cream, while the “coconut chips” are basically flakes of dried coconut. The Chungang products are made from local Hainan-grown coconut, and have long been seen as a popular souvenir for tourists.

For Mr. Li, the humble purchase (total cost: 19 yuan, or $3) might have been motivated by the desire to seem more in touch with the lives of ordinary Chinese, as gesture that echoes a visit by Xi Jinping to a humble bun shop in Beijing last year, where the Chiense president spent just 21 yuan on a meal of stuffed pork buns, stir-fried liver and greens.

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Either way, the candy manufacturer is celebrating. Total sales of the so-called “premier package” of candy, comprising two boxes of dried coconut and “coconut milk roll,” have added up to about 19 million yuan ($3 million) in revenue between April 11 and May 11. That’s nearly as much as the company sold of the product in all of 2013.

via 2 Million Boxes Sold: China Goes Coconuts for Premier-Approved Candy – China Real Time Report – WSJ.

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13/05/2014

Hundreds of Chinese families seek wartime compensation from Japan | Reuters

Japan invaded China in 1937 and ruled parts of it with a brutal hand for the next eight years. Chinese historians say nearly 40,000 men were taken to Japan against their will to work in mines and construction. Survivors say living conditions were appalling. Many did not make it back to China.

Pictures of Liu Guolian's father Liu Qian, who was a forced labourer by Mitsui Mining to work in their mines in Fukuoka of Japan, are seen on a table during an interview with Reuters on the outskirts of Beijing, April 28, 2014. REUTERS/Petar Kujundzic

In possibly the biggest class-action suit in Chinese legal history, about 700 plaintiffs lodged a case against two Japanese firms at a courthouse in eastern Shandong province in April, said Fu Qiang, a lawyer representing the families. Among the plaintiffs are several forced laborers, now in their 80s and 90s, and this might be their last chance to seek redress.

The suit was filed against Mitsubishi Corp (Qingdao) Ltd, a subsidiary of Mitsubishi Corp, and Yantai Misubishi Cement Co, a joint venture between Mitsubishi Corp and construction firm Mitsubishi Materials Corp, Fu said.

The plaintiffs are each seeking 1 million yuan ($160,100) in compensation, a public apology in several prominent Chinese and Japanese newspapers, as well as the erection of a memorial and monument in remembrance of the forced laborers, Fu said, adding that they also want the companies to fund their legal expenses.

It is unclear whether the lawsuit, with other smaller cases, will be accepted. But lawyers say there is a good chance they will be heard after a Shanghai court last month impounded a Japanese ship over a dispute that dates back to the 1930s war between the two nations.

The lawsuits could further irritate diplomatic relations. Late last month, China released previously confidential Japanese wartime documents, including some about comfort women forced to serve in military brothels. The files also contain details of the Nanjing Massacre, a major source of debate between the countries.

The number of plaintiffs, including families and surviving forced laborers seeking redress, total at least 940, with combined claims reaching at least 865 million yuan, lawyers say.

That figure could rise further as there were nearly 8,000 forced laborers from Shandong during the war, according to Fu.

The other two Japanese companies involved in the suits are coal producer Nippon Coke and Engineering Industry Co, formerly known as Mitsui Mining Co, and stainless steel maker Nippon Yakin Kogyo, the lawyers say.

“When we took the laborers to Japan to negotiate a settlement and listened to their speeches, they moved us to tears,” said Deng Jianguo, a lawyer involved in five of these lawsuits since 2007. “They (the Japanese companies) have the ability to compensate and make amends for (their) past mistakes, but they aren’t doing it. I think, morally, you can’t justify this.”

Similar suits would be filed in central Henan and northern Hebei provinces, Deng said.

Mitsubishi Corp’s spokesman Susumu Isogai said in Tokyo: “We can’t make any comment as we have not received the complaint.”

Takuya Kitamura, a spokesman for Mitsubishi Materials, and Masayuki Miyazaki, a spokesman for Nippon Coke, both declined to comment, saying they both had not received any complaints.

A Nippon Yakin spokesman, who declined to be identified, said the company is unaware of any new lawsuits against it.

via Hundreds of Chinese families seek wartime compensation from Japan | Reuters.

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13/05/2014

Dressed to kill: First female PLA honour guards steal limelight at leader’s visit | South China Morning Post

Clad in skirts, riding boots and hair pulled back into the classic chignon, 13 women soldiers from China’s military debuted as honour guards on Monday to welcome the visiting Turkmenistan president.

They are the first female People’s Liberation Army honour guards since the squad was established in 1952. Their attire of knee-high skirts and five-centimetre heels singled them out from the rows and rows of sober, hunter-green uniforms of their male comrades.

Their presence apparently left an impression on President Gurbanguly Berdimuhamedov, who is in China at the invitation of President Xi Jinping.

“It’s very nice, very good,” Berdimuhamedov said of the female soldiers.

via Dressed to kill: First female PLA honour guards steal limelight at leader’s visit | South China Morning Post.

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12/05/2014

BBC News – India election: Narendra Modi faces Arvind Kejriwal on final vote day

The final day of voting has begun in India’s general election, with huge crowds turning up in the sacred city of Varanasi, a key election battleground.

Opposition BJP leader Narendra Modi is being challenged in the seat by anti-corruption campaigner Arvind Kejriwal.

Votes are also being cast in 40 other seats in Uttar Pradesh, Bihar and West Bengal states. The first exit polls are expected on Monday evening.

Mr Modi is ahead in all the opinion polls. Votes will be counted on 16 May.

First stop before the polling station for some voters here was the Ganges river, for a dip in its sacred waters.

There’s been a strong early turnout, with many voting early to beat the rising heat.

The battle in this holy city is now being seen as a straight fight between Narendra Modi and his Hindu nationalist BJP and Arvind Kejriwal and his Aam Aadmi Party.

Mr Modi is still expected to win but many have been inspired by Mr Kejriwal’s anti-establishment message and his party’s determined door-to-door campaign.

After being bombarded by all the parties for weeks, it’s hardly surprising that many voters were being coy in admitting who they were choosing.

But there were some signs of nervousness among BJP workers manning a stand near one polling station. At one they were telling people ‘to vote for anybody, just don’t waste it on the Broom’ – short-hand for Mr Kejriwal

India’s marathon election began on 7 April and has been held in nine phases for security and logistical reasons.

With 814 million eligible voters, it is the world’s biggest exercise in democracy and the governing Congress party is battling the opposition Bharatiya Janata Party (BJP) for power.

Varanasi has been the scene of frenzied political campaigning not seen in the ancient city in decades. The city been turned into a virtual fortress with thousands of police and paramilitaries deployed to ensure peaceful polling.

BBC Hindi’s Nitin Srivastava in the city says large crowds, including many women, are turning up at polling stations, after voting began at 07:00 local time (01:30 GMT).

People are walking or taking cycle rickshaws to the booths as traffic restrictions are in place across the city, our correspondent says.

“Varanasi will finally see some change and development. I am glad to have lived for the day,” Ramavati, 93, said.

One woman told the BBC that she had cast her ballot “for the person who will bring development and progress”.

“The main issues are inflation, corruption and unemployment,” she said.

Mr Modi is being given a spirited fight by Mr Kejriwal of the Aam Aadmi Party, whose army of volunteers is engaged in extensive door-to-door campaigning.

There are a total of 42 candidates in the fray in the seat, including the Congress party’s Ajay Rai, a local political leader.

via BBC News – India election: Narendra Modi faces Arvind Kejriwal on final vote day.

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12/05/2014

First directory of Beijing’s traditional ‘siheyuan’ courtyard homes to be published | South China Morning Post

The first ever official directory of siheyuan – the traditional courtyard homes of Beijing – is expected to be published by the end of this year.

courtyard.jpg

Nearly 1,000 siheyuan have been logged, with owners’ details, floor plans, photographs, and accounts of their construction.

The directory, compiled by the Office of Beijing Geographical History, will provide the fullest record yet of what were the capital’s most important dwellings before the modern era.

But 100 have been omitted because their owners refused to collabourate.

Tan Liefei, the office’s deputy director and an editor of the directory, said some of these were well preserved, “structurally very complete” contained valuable ancient artifacts.

But they were owned or used by organisations or individuals who were not “cooperative” to the survey, he said.

However, more than 10 courtyards built in the Qing Dynasty had been discovered in the mountains, he added.

They were well preserved with grand structures and sophisticated decorations, some rivalling similar buildings in urban areas.

It is believed that Beijing has a total of more than 3,000 courtyard houses, but how to preserve them has become a controversial subject.

While some argue that they should be commercialised and converted into hotels or restaurants, some say their structures and interior decorations should be strictly preserved and used for non-profit purposes such as museums.

The condition of many siheyuan has deteriorated overt the years, with families adding illegal structures such as additional rooms or kitchens.

But well preserved and updated siheyuan have become the residences of the privileged, with average prices exceeding 100 million yuan (HK$126 million).

via First directory of Beijing’s traditional ‘siheyuan’ courtyard homes to be published | South China Morning Post.

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11/05/2014

Chinese premier vows to combat poaching, ivory smuggling – Xinhua | English.news.cn

Visiting Chinese Premier Li Keqiang said here Saturday that China is strongly committed to protecting wildlife and will spare no effort in combating poaching and ivory smuggling.

The premier made the remarks to Chinese and foreign journalists after visiting the Ivory Burning Site Monument in the Nairobi National Park with Kenyan President Uhuru Kenyatta.

In 1989, then Kenyan President Daniel Arap Moi burned 25 tons of ivory and other hunting trophies in the park. To mark the incineration, the Kenyan government reserved the burning site and set up a monument.

China highly appreciates and respects Kenya’s hardworking effort and remarkable achievement in wildlife protection, Li said, adding China shares Kenya’s considerable emphasis on the issue.

“Our visit to the monument together shows that the two sides are cooperating in good faith to jointly combat poaching and ivory smuggling, and protect wildlife,” the Chinese leader said.

It also indicated that the Chinese government is determined to provide any assistance within its capabilities to help Kenya build the capacity to protect wildlife, he added.

Li said that as a signatory to the UN Convention on International Trade in Endangered Species of Wild Fauna and Flora, China has always abode by the pact.

To counter the rising global ivory smuggling and illegal trade over recent years, he said, China has been taking a series of legal actions and creating inter-agency action mechanism to fight against the crime.

Earlier this year, China destroyed 6.1 tons of confiscated ivory, and will continue to strengthen cooperation with Kenya and other countries on ecological and wildlife protection, Li said.

China will promote such a concept in the world — protecting wildlife is to safeguard our common homeland, and protecting biological diversity is to ensure the colorfulness of the Earth, he said.

via Chinese premier vows to combat poaching, ivory smuggling – Xinhua | English.news.cn.

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11/05/2014

Study: Happiness, Money Matter Most to Indians – India Real Time – WSJ

Happiness matters most to the average Indian. At the same time, the average Indian care more about their pay than most do in South Asia. In fact, Indians care more about their paycheck than people in the U.S. or Europe.

Those findings, recently released by the Paris-based Organisation for Economic Co-operation and Development, was based on a survey of more than 60,000 people about their quality of life. Respondents were asked to rank 11 categories – from income and job satisfaction to personal health and safety – in order of what mattered most to them.

Life satisfaction, or happiness, OECD found, was most important to people world-over. More than 75% of those surveyed reported more positive experiences in a day over negative experiences. Respondents from Iceland, Japan and New Zealand felt the most positive, while those in Greece and Turkey showed the lowest levels of happiness.

Personal health was second-most important concern. China, Canada, France and Australia were among countries that ranked personal health as most important to them, even over happiness, safety and a stable income.

World-over, civic engagement, or greater participation in public policies, occupied a lowly position in rankings. Fewer than two-fifths of those surveyed said they trusted their national governments — but also said fixing the state of affairs in their country wasn’t a priority.

The world’s biggest-ever election is underway in India, for instance, yet the nearly 600 Indians OCED surveyed, ranked civic engagement, or greater participation in public policies, as least-important to them.

India’s South Asian neighbors — China, Pakistan, Bangladesh and Sri Lanka – were no different. Civic engagement was least-important to people across the four countries. Respondents in each of these countries differed about what mattered most to them.

While Indians and Chinese picked happiness and health care, respectively, respondents from Pakistan named safety as their top concern. Education mattered the most to people in Sri Lanka.

via Study: Happiness, Money Matter Most to Indians – India Real Time – WSJ.

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