Chindia | CHINDIA ALERT: You'll be living in their world, very soon

22/03/2012

* Outrage over report that India lost $210bn in coal scam

BBC News: “There was outrage in India’s parliament after a draft report by government auditors estimated India lost $210bn by selling coalfields too cheaply. Opposition politicians accused the government of “looting the country” by selling coalfields to companies without competitive bidding. Private and state companies benefited from the allocations between 2004 and 2010, says a Times of India report. …

… the Times of India, quoting the CAG draft, says the $210bn (£133bn) figure is a “conservative estimate, since it takes into account prices for the lowest grade of coal and not the median grade”.

India is one of the largest producers of coal in the world.

This is just the latest in a series of financial scandals to hit the Congress-led government and the revelations caused such anger among opposition politicians that both houses of parliament had to be temporarily adjourned.”

via BBC News – Outrage over report that India lost $210bn in coal scam.

Nation full of scams: Why it is possible to loot Rs10.67 lakh crore worth of coal? (requestingtruth.wordpress.com)

Posted in corruption, Economics, India alert | Leave a Comment »

Tags: Business, Chindia, Chindiapedia, Coal, economy, Government, India, politics, Procurement

22/03/2012

* Fair trade? Diageo to buy top ‘baijiu’ producer; Jaguar Land Rover agrees jv with Chery in China

FT.com: “When it comes to selling things that take years to mature – like premium cognacs or Scotch whiskies – it pays to take the long view. Diageo is taking a very long view on the future of baijiu, otherwise known as Chinese firewater. As a purveyor of Scottish firewater – also known as Johnnie Walker – Paul Walsh, Diageo’s CEO, says he can foresee a day when Chinese white spirit will have as broad a global footprint as Scotch whisky.

To prepare for that day, Diageo said on Tuesday it would shortly launch a mandatory tender offer to spend as much as $1bn buying all remaining shares of Sichuan Shuijingfang, the baijiu company it took control of last year.”

via Diageo: the long view on baijiu | beyondbrics | News and views on emerging markets from the Financial Times – FT.com.

Chery Automobile (Photo credit: Wikipedia)

BBC News: “Jaguar Land Rover JLR and Chery Automobile have agreed a joint venture that should pave the way for production of Jaguar and Land Rover cars in China.”

via BBC News – Jaguar Land Rover agrees joint venture with Chery in China.

Posted in China alert, Economics | Leave a Comment »

Tags: Chery Automobile, China, Chindia, Chindiapedia, Diageo, global brands, Jaguar Land Rover, Johnnie Walker, Land Rover, land rover cars

21/03/2012

* UN unites on Syria – including China and Russia

President Bashar al-Assad of Syria . Original background. (Photo credit: Wikipedia)

Reuters: “The UN Security Council, including Russia and China, threw its weight on Wednesday behind

In a statement approved by all its 15 members, the council threatened Syria with unspecified “further steps” if it failed to comply with Annans peace plan, which calls for a ceasefire and demands swift access for aid agencies.

Although the original statement was diluted at Russias demand, editing out any specific ultimatums, the fact that all world powers signed up to the proposal dealt a serious blow to President Bashar al-Assad as he battles a popular uprising.

via U.N. unites on Syria, sanctions set for Assads wife | Reuters.

Posted in GeoPolitics | Leave a Comment »

Tags: Bashar al-Assad, China, Chindia, Chindiapedia, Kofi Annan, Russia, Syria, syria sanctions, United Nations, United Nations Security Council

21/03/2012

* US exempts 11 states from Iran sanctions; China, India excluded

Reuters: “The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian oil, but left Iran’s top customers China and India exposed to the possibility of such steps.

The decision means banks in these countries have been given a six-month reprieve from the threat of being cut off from the U.S. financial system under new sanctions designed to pressure Iran over its nuclear program.

The list did not include China and India, Iran’s top two crude oil importers, nor U.S. allies South Korea and Turkey, which are among the top-10 consumers of Iranian oil.

Japan, China and India combined buy close to half of Iran’s crude exports of 2.6 million barrels a day, providing crucial foreign exchange for the OPEC member.”

via U.S. exempts 11 states from Iran sanctions; China, India exposed | Reuters.

Posted in China alert, Chindia Alert, Economics, India alert | Leave a Comment »

Tags: China, Chindia, Chindiapedia, European Union, financial sanctions, India, iran, iran sanctions, Japan, OPEC, South Korea, United States

21/03/2012

* India kidnapping: Maoist rebels extend deadline

BBC News: “Maoist rebels in eastern India have extended a deadline for their demands to met in exchange for returning two Italian men they kidnapped last week to late Wednesday. The rebels have demanded an end to military operations against them and the release of jailed Maoists. A deadline of Sunday for their list of 13 demands was earlier extended to late Tuesday.

The rebels say the two Italians are safe and in good condition. Paulo Bosusco, 54, and Claudio Colangelo, 61, were seized while trekking in a tribal area of Orissa state, one of several regions of India where Maoist rebels are active.

Talks over the Italians release are stalled because of differences between the government and rebels over mediators. On Tuesday, the rebels named three mediators, including one Maoist leader who is in prison.The government rejected two of the names and announced its list of three mediators. The rebels responded with fresh names as replacements, but one of the replacements has refused to negotiate for the rebels.”

via BBC News – India kidnapping: Maoist rebels extend deadline.

Related articles:

Posted in India alert, Insurgency | 1 Comment »

Tags: Bosusco, Chindia, Chindiapedia, Claudio Colangelo, India, Kandhamal district, Maoism, maoist rebels, Orissa

20/03/2012

* Chinese fuel prices raised by 6.5-7%

China Daily: “China raised fuel prices for the second time this year, hiking gasoline and diesel by 6.5 percent to 7 percent effective on Tuesday, amid rising world crude oil prices and falling domestic inflation. Prices went up by 600 yuan $94.90 a metric ton, the biggest hike since June 2009. The average gasoline price went up 6.5 percent to 9,980 yuan a metric ton, while diesel prices rose 7 percent to 9,130 yuan a metric ton.Both prices are record highs. China, the worlds second-biggest oil user, raised fuel prices for the first time this year by 300 yuan a ton on Feb 8.”

via Fuel prices raised by 6.5-7%|Economy|chinadaily.com.cn.

Posted in China alert, Economics, Inflation | Leave a Comment »

Tags: cars, China, Chindia, Chindiapedia, crude oil prices, Fuel, Gasoline, Gasoline and diesel usage and pricing, Price of petroleum, transportation

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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* Outrage over report that India lost $210bn in coal scam

* Fair trade? Diageo to buy top ‘baijiu’ producer; Jaguar Land Rover agrees jv with Chery in China

* UN unites on Syria – including China and Russia

* US exempts 11 states from Iran sanctions; China, India excluded

* India kidnapping: Maoist rebels extend deadline

* Chinese fuel prices raised by 6.5-7%

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