Posts tagged ‘2010 FIFA World Cup’

02/08/2016

India to impose temporary anti-dumping duty on some steel products | Reuters

An Indian government body has recommended provisional anti-dumping duty on imports of hot-rolled steel products, a government statement said on Tuesday, to reduce overseas purchases of the alloy and shield local mills.

The anti-dumping duty will come into effect after New Delhi formally notifies the tax.

The Directorate General of Anti Dumping recommended the duties on steel products from China, Japan, South Korea, Russia, Brazil and Indonesia, the statement said.Indian steelmakers such as the Steel Authority of India (SAIL.NS) , JSW Steel (JSTL.NS) and Tata Steel (TISC.NS) had lobbied for protectionist measures to prevent cheap overseas purchases that were undercutting local mills and squeezing margins.

Source: India to impose temporary anti-dumping duty on some steel products | Reuters

05/03/2016

The Limits of Growth: Economic Headwinds Inform China’s Latest Military Budget – China Real Time Report – WSJ

With an official defense budget increase of 7.6% to 954 billion yuan ($147 billion) announced today, Beijing’s quest to restore China’s historic “greatness” and to attain international status as a military power commensurate with its economic standing continues.

Yet with GDP growth slowing and social and demographic headwinds mounting, Chinese leaders face increasingly difficult tradeoffs concerning how to allocate government largesse.

With Beijing’s 2016 official defense budget, it is clear that even military spending is not immune to China’s economic and fiscal realities. Advance reports that this year’s official budget would entail an increase of as much as 20% proved significantly off-the-mark. So, what’s in a number? Nothing short of this: Beijing’s latest defense spending figure provides further evidence that it is determined to avoid succumbing to Soviet-style military overextension – yet it remains committed to enhancing capabilities to further its priorities, especially vis-à-vis contested island and maritime claims in the East and South China Seas.

Make no mistake: drawing on the world’s second-largest (and growing) economy, the People’s Liberation Army (PLA) is increasingly well-endowed and capable of asserting China’s regional interests. Even as GDP growth continues to slow, President Xi Jinping appears determined to order, and fund, ambitious military modernization and PLA reforms. The PLA is now far-and-away the world’s second best-resourced military and, unlike the globally-distributed and -deployed U.S. military, is focused overwhelmingly on its immediate neighborhood.

Source: The Limits of Growth: Economic Headwinds Inform China’s Latest Military Budget – China Real Time Report – WSJ

 

02/03/2016

Indians Are Among the Most Satisfied at Work, Says a Study. Here’s Why – India Real Time – WSJ

Indians are among the most highly stimulated and satisfied at work, a new report claims.

Some 28% of workers in the South Asian nation reported being highly engaged and fulfilled in the office, a full 15% above the global average, in a survey of workers in 17 countries conducted by Ipsos for furniture and workspace systems company Steelcase Inc.

Other nations with the largest proportions of satisfied workers were Mexico, at 22%, the UAE and South Africa, where around one in five people described themselves in that way and Saudi Arabia, with 18%.

American offices came sixth. About 14% of those surveyed there reported being highly engaged and satisfied at work.

Only 4% of Indian workers were highly dissatisfied and disengaged, compared with 11% on average globally.

Indians also provided the second-highest average score, of 7.4, when they rated their quality of life at work out of 10. Only Mexico scored higher with 7.5.

The authors of the report said the secret to the happiness of Indian workers could be to do with the fact the country’s employers haven’t yet embraced open-plan work spaces and also a result of  the hectic pace of life outside the office walls.

Only 14% of the offices the employees worked in were open plan. Meanwhile, 70% of the workers surveyed sat in a private or shared private office at work.

“Culturally, having a workspace of one’s own, even if it is compact and modest, is a signal of belonging and importance, which may explain the overall high degree of workplace satisfaction,” the report said.

In densely populated countries like India, the workplace can be a haven, the report said.

Indians are much more likely to say, for instance, that their work environment allows them to feel relaxed and calm. A total of 73% agreed with that in the survey, much higher than most other countries, the report said.

Workers in Indian offices are also likely to have access to shared spaces like meeting rooms, cafeterias and canteens. They also have the most access to sport or exercise facilities.

Indians’ enthusiasm about their office spaces might be relative. The most highly engaged employees came from emerging economies, the report said.

“Many Indian employees’ expectations may be shaped by their comparatively modest living conditions,” the report said.

And they are more likely to say that they work remotely–55% said they sometimes work away from the office, and 20% said they did so every day.

They also believed that their employer took a genuine interest in employees, with 79% agreeing with the statement.

All of this might reflect employers’ efforts to keep their workers happy, the report said. “In India’s highly competitive and fluid job market, providing a desirable workplace can be a powerful strategy for attracting, retaining and engaging the talent that can help an organization thrive,” the report said.

Source: Indians Are Among the Most Satisfied at Work, Says a Study. Here’s Why – India Real Time – WSJ

18/10/2015

Top African leaders to meet PM Modi in his trademark jacket

PM Narendra Modi has not only gained prominence across world for giving a personal touch in his diplomatic efforts but he is also famous for his impeccable dress sense. Prime Minister will take the diplomatic skills to new level when he will host a dinner for top African leaders later this month.

Top African leaders to meet PM Modi in his trademark jacket

According to a report in The Times of India, All of the 42 heads of state and government, who are attending the 3rd India-Africa Forum Summit, from Egyptian President Abdel Fattah el-Sisi to South African counterpart Jacob Zuma, will attend the dinner wearing Modi’s trademark jacket. They are specially designed by government agencies.

The bundi waistcoat that PM Modi made his own accessory will be at the heart of his latest bit of sartorial diplomacy. The sleeveless jackets will be available in several brilliant colours.

The African leaders will also be wearing unique ‘ikkat kurta’ (no pyjamas) being gifted to them by the government during their visit to India.

A senior African diplomat said to TOI that he was really impressed with the attention PM Modi was giving to the summit despite his hectic campaigning for Bihar elections.

Source: Top African leaders to meet PM Modi in his trademark jacket

12/06/2015

India to Widen Its Growth Lead Over China, World Bank Says – India Real Time – WSJ

India will continue to be the world’s fastest growing big economy and expand its lead on China over the next two years, the World Bank said Wednesday.

The bank expects global growth to slow this year, only to rebound next year. However, it expects India’s gross domestic product expansion to accelerate to 7.4% this calendar year, 7.8% next year and 8.0% in 2017.

Over the same three years, the multi-lateral lender predicts China’s growth to slow from 7.1% this year to 7.0% in 2016 and 6.9% the year after that.

While, India’s GDP expansion was faster than China’s during the third quarter of last calendar year and the first quarter of this year, it looks as if 2015 will be the first full calendar year India has outpaced China in decades.

Much of India’s progress on paper has more to do with a radical and controversial rejigging of how it calculates GDP, economists say.

To continue to outpace China—and improve the lives of India’s own billion-person populace—the South Asian nation needs to work harder to revamp its economy and build infrastructure, the World Bank said.

“To the extent that credible reform agendas boost investor sentiment, they will also help create a virtuous cycle of stronger investment (including foreign investment) and output growth in the short term,” the bank said in its Global Economic Prospects Report. “If, however, reforms stall, this could result in significantly lower investment and growth than projected in the baseline.”

Meanwhile the other three BRICS countriesBrazil, Russia and South Africa—do not seem to be living up to the hype from the days that acronym was created.  The World Bank predicts that the Brazilian and Russian economies will both shrink this year while South Africa’s will only expand by 2%. Things will improve for the three economies in the next two years but even then, they will each only see their GDPs expand by 2.5% or less in 2017.

via India to Widen Its Growth Lead Over China, World Bank Says – India Real Time – WSJ.

11/05/2015

Private banker KV Kamath named first BRICS bank head | Reuters

Indian private banker K.V. Kamath has been named as the first head of a new development bank being set up by the BRICS group of emerging market economies, Finance Secretary Rajiv Mehrishi told reporters on Monday.

K.V.Kamath gestures during the Reuters India Summit at his office in Mumbai in this November 25, 2008 file photo. REUTERS/Stringer/Files

The BRICS – Brazil, Russia, India, China and South Africa – agreed to set up the $100 billion development bank last July, in a step toward reshaping the Western-dominated international financial system.

“Kamath has been appointed as the head of the BRICS bank, the appointment will become effective when he becomes free from his current assignments,” Mehrishi told reporters in New Delhi.

It was agreed then that the New Development Bank, which will fund infrastructure projects in developing nations, would be based in Shanghai. It would be headed by an Indian for a first five-year term, followed by a Brazilian and then a Russian.

via Private banker KV Kamath named first BRICS bank head | Reuters.

30/06/2014

Meme Manufacturing: China Taking Orders for Suarez Bite Bottle Openers – China Real Time Report – WSJ

Well known for his dives, Uruguay striker Luis Suarez is deft at selling fouls that didn’t happen.

Now he’s become a business opportunity for online vendors in China skilled at selling products that don’t exist.

With the hope of cashing in on Mr. Suarez’s infamous biting of Italian player Girogio Chiellini during Uruguay’s World Cup win over Italy last week, almost 200 merchants on Taobao, the e-commerce site run by China’s Alibaba, are selling Suarez bottle openers.

A screenshot shows an advertisement on Taobao for a Luis Suarez can opener. “One bite and its open, it says. Taobao

Using a Photoshopped image that went viral after the game of Mr. Suarez’s mid-bite visage grafted onto a plastic figurine and preparing to chomp down on a bottle lid, the vendors are selling the openers for as little as 15 yuan ($2.50).

“One mouth, one opener….one bite and it’s open,” read one advertisement.

Given the social media storm that followed the bite, the openers could sell briskly. The problem is, like part of Brazil’s World Cup infrastructure just weeks before the tournament, it doesn’t exist yet.

As cunning in the cut-throat world of Chinese e-commerce as Mr. Suarez is on the field, Taobao vendors contacted by China Real Time gave different motivations for putting up advertisements for the products.

One vendor, who was advertising the openers for an outrageously expensive 9,999 yuan, admitted he didn’t actually expect to sell the product. Instead, he said, he was using Mr. Suarez’s outburst as a marketing opportunity.

“Honestly, I won’t really sell it at that high price even if I have it on hand. It’s just for pleasure,” said the vendor selling under the name Drinchlee. “I was just doing it for entertainment around the World Cup, and you can take a look other stuff that I am selling, such as football teams T-shirts!”

Others were more serious about turning the meme into cash. One vendor with the screen name Lin Mumu0393 said he had received 108 orders and that he was still working with manufacturers to make the product. He said he would have limited supplies in two weeks.

via Meme Manufacturing: China Taking Orders for Suarez Bite Bottle Openers – China Real Time Report – WSJ.

14/06/2014

BBC News – China’s literal take on World Cup fever

The Global Times started it. The headline in the Communist Party controlled newspaper ran: Soccer fever kicks off fake sick notes.

Chinese football fans react as they watch the opening football match between Brazil and Croatia of the 2014 World Cup, in Xuchang, north China"s Henan province on June 13

Citing the painful 11-hour time difference between China and Brazil – meaning games kick-off sometime between midnight and 06:00 – the article suggested that opportunistic online wheeler-dealers were offering the fraudulent diagnoses to enable fans to take the day off.

There are certainly a lot of football fans in China.

The national team may be a long-running embarrassment, having only ever qualified for one World Cup, back in 2002, but the passion is still there.

The time difference with South Africa wasn’t all that much better than Brazil but China still accounted for the largest single-country audience for the 2010 tournament, with an average of 17.5 million tuning in for each live match.

Chinese are known for their love of football

For a relatively small fee, a sick-note can be arranged

A veritable peoples’ army of genuine football craziness, no doubt. But an army of sick-note slackers and skivers?

China’s artistry for fakery has been well documented. Fake bags and watches, fake cars even, are old news. Recent reports uncovered the existence of a fake UN peacekeeping force.

So it is not surprising, and not at all difficult, to find the online services offering bogus medical documentation.

Within minutes we were being asked what ailment we preferred, and from which hospital we would like the diagnosis to be provided.

An hour or so later and our very authentic-looking sick-note was delivered by a man on a moped. Fee charged, roughly $16 (£9).

But is demand for these services really, as the Global Times suggests, soaring as a result of the World Cup?

Our dealer denied it, but we did find another one who suggested that business of late was unusually brisk.

There’s a chance though that it might not be down to devious football fans at all, but rather an upsurge of journalists, like me, trying to prove just how easy sick notes are to obtain.

Following a quick scan of the foreign media I’m saddened to report that the Telegraph’s man in Shanghai has gone down with a respiratory tract infection, the reporter for US National Public Radio has a bad bout of gastroenteritis (beginning this coming Sunday) and someone in NBC News‘s China office has been diagnosed with chronic appendicitis.

May they all get well soon.

via BBC News – China’s literal take on World Cup fever.

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India