Archive for ‘Economics’

22/01/2014

Syrian Conflict Leads to Cumin Boom in India – India Real Time – WSJ

A recent The Wall Street Journal article examined the boom in India’s cumin exports as a result of the conflict in Syria. A reporter’s photo diary from one of Asia’s largest spice markets Unjha in the western Indian state of Gujarat where cumin sales have seen an uptick in recent months.

As of Jan. 13, the acreage of cumin fields in Gujarat, which accounts for 75% to 80% of India’s cumin crop, was up 36% from a year earlier to 1.12 million acres, according to the Gujarat agriculture department. India’s exports of cumin surged 93% between last April, the start of the fiscal year, and September, to 67,500 tons, according to the Spices Board of India.

Syria was India’s biggest rival in exports of the yellow-brown spice, which is a crucial ingredient in Middle Eastern, Asian and Mediterranean cuisines and adds a dash of flavor for kitchens in the West.

Besides adding flavor to food, cumin is also used as medicine. It was even used in preserving corpses as mummies in ancient Egypt.

via Syrian Conflict Leads to Cumin Boom in India – India Real Time – WSJ.

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22/01/2014

China’s Real-Estate Investment Boom Set to Continue in 2014 – China Real Time Report – WSJ

Chinese real-estate investors made a name for themselves abroad in 2013, picking up big-ticket projects from New York to London, and that momentum is poised to pick up this year.

“In the late 1980s, we noticed every second deal was done by the Japanese, and in the 1990s, it was investors from the Middle East,” said Alastair Hughes, chief executive officer of Asia Pacific at property consultancy Jones Lang LaSalleJLL +1.99%. “We’re seeing the beginning of such a wave in China.”

Chinese outbound commercial real-estate investment is estimated to exceed $10 billion this year, after it doubled to $7.6 billion last year from 2012’s $3.3 billion, according to data from Jones Lang LaSalle. Rival brokerage Colliers International is more bullish, saying it expects Chinese investors to spend at least twice as much on overseas property assets this year as last year.

“Chinese investors are very active in every major market in the world, and part of that has to do with government policy on overseas investment becoming less restrictive,” Mr. Hughes said.

Aside from the stronger yuan, which makes purchases abroad cheaper, Chinese investors also are heeding the old adage don’t put all your eggs in one basket.

via China’s Real-Estate Investment Boom Set to Continue in 2014 – China Real Time Report – WSJ.

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22/01/2014

BBC News – China and UK trade at ‘record high’

Bilateral trade between China and the United Kingdom hit a \”record high\” in 2013, according to the Chinese ambassador to the UK, Liu Xiaoming.

Chinese Premier Li Keqiang  and British Prime Minister David Cameron

The state-owned Xinhua news agency quoted Mr Liu as saying that bi-lateral trade between the two surpassed $70bn (£43bn) last year.

He said the UK\’s exports to China grew more than other EU countries.

The UK has been pushing to boost trade ties with Beijing in an attempt to tap into China\’s domestic market.

Last year, British Prime Minister David Cameron visited the world\’s second-largest economy to foster closer trade ties.

“The UK can be the most profitable destination in the Western world for Chinese outward investment in infrastructure, real estate, energy and transportation”

Stephen Perry

48 Group Club

He was accompanied by more than 100 British business people on the three-day visit – his second to the country.

\”The two countries\’ leaders reached a broad consensus on pushing forward bilateral relationship and expanding co-operation,\” said Stephen Perry, chairman of the 48 Group Club, an independent business network that looks to promote ties between China and the UK.

\”China and the UK working together will benefit our people and contribute to global peace and development,\” Mr Perry was quoted as saying by Xinhua.

via BBC News – China and UK trade at ‘record high’.

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22/01/2014

Tea growers get big year-end bonus[1]- Chinadaily.com.cn

A tea company in Wande county of Jinan city, capital of East China\’s Shandong province, shared nearly a million yuan ($165,200) in year-end bonuses with its tea growers, on Jan 20, 2014.Some growers got about 200,000 yuan.Li Taishan Tea Co was established after thevillage piloted a land circulation project in 2003.

Tea growers get big year-end bonus

via Tea growers get big year-end bonus[1]- Chinadaily.com.cn.

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22/01/2014

Algae.Tec Teams With Reliance to Build Clean-Fuel Plant in India – Businessweek

Algae.Tec Ltd., an Australian producer of algal oils used in cleaner fuels, is teaming up with a unit of Reliance Industries Ltd. to build a pilot production facility in India.

Reliance Industrial Investments and Holdings Ltd. will invest A$1.5 million ($1.3 million) in Algae.Tec and A$1.2 million more over the next two years, Perth-based Algae.Tec said in a statement.

The companies will develop a pilot project in India that will produce two barrels of biofuel a day and be funded by Reliance affiliates, Algae.Tec said. Reliance plans to work with its new partner to help bring the technology to market.

via Algae.Tec Teams With Reliance to Build Clean-Fuel Plant in India – Businessweek.

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20/01/2014

India’s Hardware Mashups Inspire Frugal Technology Abroad – India Real Time – WSJ

In 2009, Vinay Venkatraman was strolling the streets of Mumbai with two colleagues when he saw a group of people tinkering with old computer monitors and turning them into televisions.

After observing the men over three weeks, Mr. Venkatraman and his team found that the workers were stripping the computer monitors, usually brought from the secondhand markets, and inserting T.V. circuits.

They even made T.V. remotes by scavenging components from the scrap market, said Mr. Venkatraman.

“It was really eye-opening as an experience for me,” he said in a recent telephone interview with The Wall Street Journal from his home in Denmark.

India is home to many such master recyclers and re-purposers and Hindi even has a special word it, ‘Jugaad’, meaning “frugal improvisation” which is catching on as a business principle.

The country also boasts of some innovative products such as Mitti Cool, a refrigerator made with clay, and a floating soap, that is less dense than water.

Inspired by those workers involved in what he calls “silicon cottage industries” in India’s financial capital, Mr. Venkatraman, started Frugal Digital in 2010 — a research organization based in Copenhagen and specializing in making low-cost technology equipment.

The nonprofit company makes use of common items such as outmoded mobile phones and clocks to design equipment such as hearing aids and projectors.

Mr. Venkatraman, 34, who grew up in India, graduated from the National Institute of Design, Ahmedabad in 2003– the top design school in India — and completed his post graduate studies in Italy.

It was his childhood and experiences of Jugaad in India and while living in Nigeria, that inspired his current venture to help people access basic things though inventive recycling.

via India’s Hardware Mashups Inspire Frugal Technology Abroad – India Real Time – WSJ.

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17/01/2014

* China’s Tech Firms Now Challenging the Likes of Samsung, Apple – China Real Time Report – WSJ

Chinese tech firms, once mostly known for their manufacturing prowess, are now challenging market leaders and setting trends in telecoms, mobile devices and online services. As Juro Osawa and Paul Mozur report:

Keeping better-known global competitors at bay in their massive home market, Chinese tech companies are hiring Silicon Valley executives and expanding overseas with aggressive marketing campaigns featuring international sports stars and celebrities.

They still face a perception problem among consumers in many parts of the world that their products aren’t as high-quality or reliable as others. Some foreign competitors have alleged that Beijing gives unfair advantages through subsidies, cheap financing and control over the currency market.

But, many executives at Chinese and Western companies contend, China’s technology sector is reaching a critical mass of expertise, talent and financial firepower that could realign the power structure of the global technology industry in the years ahead.

via China’s Tech Firms Now Challenging the Likes of Samsung, Apple – China Real Time Report – WSJ.

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16/01/2014

China’s Hebei closes more than 8,000 polluting firms in 2013 | Reuters

China shut down 8,347 heavily polluting companies last year in northern Hebei province, which has the worst air in the country, state news agency Xinhua said on Thursday, as the government moves to tackle a problem that has been a source of discontent.

Residents ride bicycles along a street amid heavy haze in Xingtai, Hebei province November 3, 2013. Dense smog has periodically shrouded major cities in north and northeast China in recent years, raising increasing public discontent, Xinhua News Agency reported. REUTERS/China Daily

Local authorities will block new projects and punish officials in regions where pollution is severe due to lax enforcement, Xinhua cited Yang Zhiming, deputy director of the Hebei provincial bureau of environmental protection, as saying.

High pollution levels have sparked widespread public anger and officials concerned about social unrest have responded by implementing tougher policies.

Hebei, the country\’s biggest steel producer, is home to as many as seven of its 10 most polluted cities, Xinhua said, citing statistics published monthly by the Ministry of Environmental Protection.

Pollution in Hebei often spreads to neighboring Beijing and Tianjin. On Thursday, Beijing was blanketed in its worst smog in months. An index measuring PM2.5 particles, especially bad for health, reached 500 in much of the capital in the early hours.

Some small high-polluting plants are being relocated to remote areas to avoid oversight, Xinhua quoted Yang as saying. He said the government would \”beef up the industrial crackdown\”.

China has drawn up dozens of laws and guidelines to improve the environment but has struggled to enforce them in the face of powerful enterprises.

via China’s Hebei closes more than 8,000 polluting firms in 2013 | Reuters.

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15/01/2014

Wuhan overpass swings into place[1]- Chinadaily.com.cn

A 17,000-ton section of an overpass was rotated 106 degrees, one step closer to the completion of an elevated highway in Wuhan city, Central China\’s Hubei province, on Jan 14, 2014. The section on pier number Z63, at a height of 15 meters, was built along the railway to not disturb trains. It finished rotating and joined its other parts in 90 minutes. The completed overpass will be 256 meters long and span 11 railways, including the Beijing-Guangzhou Railway and Wuhan-Hefei Railway. It is expected to open to traffic this month.

Wuhan overpass swings into place

via Wuhan overpass swings into place[1]- Chinadaily.com.cn.

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15/01/2014

Villagers in SW China share the wealth[1]- Chinadaily.com.cn

Jianshe village in Liangshan Yi autonomous prefecture, Sichuan province, shared about 13.11 million yuan ($2.17 million) in bonuses with the 340 households in the village, on Jan 14, 2013. The village became rich after piloting a land circulation project, which introduced a new farming company and an investment company. One household received 314,000 yuan.

Villagers in SW China share the wealth

via Villagers in SW China share the wealth[1]- Chinadaily.com.cn.

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