Trung Quốc cấm thăm dò dầu khí ở biển Đông, Ấn Độ phản đối

China objects to oil hunt, India says back off

 

Anupama Airy and Jayanth Jacob,
Hindustan Times
New Delhi, September 15, 2011

Beijing’s bid to thwart oil and natural gas exploration in two Vietnamese blocks in the South China Sea by India’s ONGC Videsh Ltd (OVL) has been rebuffed by New Delhi. India’s ministry of external affairs (MEA) said China’s objections have “no legal basis” as the blocks belong to Vietnam.

Beijing had in a demarche — a formal diplomatic representation of a government’s official position — to India stated that unless its permission is taken for exploration in Blocks 127 and 128, OVL’s activities there would be illegal. “While an appropriate reply has already been given to China’s demarche, the issue is set to be discussed during the visit of external affairs minister SM Krishna to Vietnam on September 16,” an MEA official said.

“The Chinese had concerns but we are going by what the Vietnamese authorities have told us and have conveyed this to the Chinese,” he said.

MEA sources said Vietnam had cited sovereignty rights over Blocks 127 and 128 according to the United Nations Convention on the Law of the Sea, 1982.

There are many potentially oil- and gas-rich islands on the South China Sea, which are facing territorial disputes and where, apart from China, other countries including Vietnam are claimants.

For instance, Vietnam claims rights to the Paracel Islands, which China first occupied in 1974. The Spratly Islands are another area under dispute, with Vietnam and China staking their claims.

In June 2007, UK’s energy major BP abandoned exploration plans in a block between Vietnam and the Spratly Islands, citing ongoing uncertainty over competing ownership claims between Vietnam and China.

Source: Hindustantimes,
http://www.hindustantimes.com/China-objects-to-oil-hunt-India-says-back-off/H1-Article1-745854.aspx

Ấn Độ kém hấp dẫn nhất trong số các thị trường mới nổi

India among the least preferred emerging markets: BofA Merrill Lynch Survey

14 Sep, 2011

MUMBAI: India is among the five least preferred emerging markets, according to the BofA Merrill Lynch Survey of Fund Managers for September. In overall terms, fund managers are overweight on emerging market equities. However, if the banking crisis in Europe spirals out of control, emerging market equities will be vulnerable to further sell-offs, the survey report said.

"Sixty-eight percent of survey respondents now view the eurozone debt crisis as the largest of risks, up from 43% in June and 60% in August. Sentiment towards European banks is at its lowest since the beginning of this survey," the BoFA ML Survey said. The BoFA ML survey was done on a sample size of 286 money managers with $831 billion of assets under management.

While global investors have lowered their growth expectations for China, emerging market (EM) remains a consensus overweight. A net 30% of investors (fund managers who were surveyed) report being overweight on EM, up from 27% in August.

Over 40% respondents sounded extremely bullish on Brazil, which recently underwent a 50-bps rate cut that bolstered sentiment towards equity assets. Overseas investors have trimmed their overweight positions in Indonesia, while adding more to Russia and China in September. Taiwan, Malaysia, Colombia, Poland and India are the least favoured markets in September.

In terms of sectoral allocations, EM investors remain focused on consumption-related businesses and technology. Overseas fund managers are maintaining underweight positions in utility, materials, healthcare and engineering & industrial companies in September.

Though foreign investors are finding 'value pockets' in emerging markets, investors' risk aversion has soared to levels last seen in March 2009 in the wake of the global financial crisis. A net 45% of respondents are taking lower risk than normal relative to their benchmarks, up nearly 20% points from August. Cash holdings remain notably high at an average 4.9% of portfolios, with more than one-third of investors overweight cash.

Source: The Times of India,
http://economictimes.indiatimes.com/markets/analysis/india-among-the-least-preferred-emerging-markets-bofa-merrill-lynch-survey/articleshow/9973500.cms

Xuất khẩu của Ấn Độ tăng 44% lên 24 tỉ USD trong tháng 8

Exports surge 44% to $24bn in August

 

TNN | Sep 10, 2011

NEW DELHI: The country's exports rose 44.2% in August maintaining its robust expansion on the back of strong shipments of engineering goods, petroleum and oil products, electronics and readymade garments.

Provisional data released by commerce secretary Rahul Khullar on Friday showed exports in August stood at $24.3billion.During the period April-August 2011, exports rose 54.2% at $134.5billion, while imports grew 40.4% at $189.4 billion. The trade deficit during the April-August period stood at $ 54.9 billion.

Imports in August 2011 were $38.4 billion registering the growth of 41.8%. Balance of trade for the month of August 2011 stood at (-) $14.1 billion.

The sectors which notched robust growth included engineering, ($ 39.6 billion) rising 81% over last year and in the month of August it was $7 billion alone, petroleum and oil products, 60% ( $ 24.2 billion) and 4 billion for the month of August, cotton 13,2% ($ 2.7 billion), electronics, 75% ($ 4.7 billion), readymade garments, 32% ( $ 5.75 billion).

Indian exports have grown in double digits since the past year and in July registered more than 80% growth but economist say the global economic slowdown is expected to impact shipments from the country. India's key markets in Europe and the United States are witnessing a slowdown but diversification of exports to other emerging markets has helped sustain growth.

The commerce secretary also said a panel of ministers had decided to put non-basmati rice and wheat on the open general licence and banned exports of onion. Onion prices have soared in recent weeks and were one of the factors driving food inflation.

Asked whether the government would provide any fiscal help to exporters in the event of a sharp slowdown Khullar said I don't know when, something will have to be done>"

"Up till now we have had a good run, but you could be looking at difficulties down the road. If you want to prevent them, then you better kick in now with action."

He said exports of iron ore, fruits and vegetables were not doing well.

Imports of POL rose 27%($ 52.2 billion) in the April-August period while gold and silver increased 130% ($26.3 billion),machinery, 45%( $14.9 billion), electronics, 78% ($13.6 billion), organic and inorganic chemicals 30% ($30 billion) and coal 65% ( $ 7 billion).

Khullar also said imports of fertilizers have started picking and readymade garments and textiles have performed well.

Source: The Times of India,
http://timesofindia.indiatimes.com/business/india-business/Exports-surge-44-to-24bn-in-August/articleshow/9928067.cms

Tăng GDP 2011-2012 của Ấn Độ từ 7,5-8%: Cơ quan xếp hạng toàn cầu Moody

Moody's pegs GDP growth at 7.5-8 %

Special Correspondent
NEW DELHI, September 5, 2011

The agency keeps India's credit rating outlook unaltered

Keeping India's credit outlook unaltered, global rating agency Moody's on Monday projected the country's GDP (gross domestic product) growth for the current fiscal at 7.5-8 per cent and cited high domestic interest rates coupled with the current global uncertainties as the near-term factors that could affect its economic expansion.

Pegging India's overall growth for 2011-12 at the same level as estimated by the Reserve Bank of India, Moody's noted in its annual sovereign credit update on India that the ‘cyclical slowdown' was unlikely to alter its credit outlook.

“Moody's expects GDP growth of 7.5-8 per cent in 2011-12 … Given current global uncertainty, and the continuing transmission of the RBI's tightening over the last year, the risks to both forecasts are on the downside … Although rising domestic interest rates and an uncertain global economic environment could dampen India's near term GDP growth, a cyclical slowdown is unlikely to alter its credit outlook,” the report said.

On the inflation front too, Moody's analysis is in sync with the view held by the RBI in that inflation is likely to moderate to around 7 per cent by the end of the fiscal in March, 2012.

“Moody's expects ... inflation to abate slowly over the course of the year to about 7 per cent ... Should global growth decelerate, the concurrent decline in global commodity prices would alleviate India's inflation problem and likely allow for a pause or even reversal in monetary tightening,” the rating agency said.

Moody's, however, highlighted the concern over investment slowdown, a major issue that India Inc. has also been citing for bringing about a pause in further rate hikes by the RBI.

“Of concern is the apparent slowdown in investment in recent months, blamed on rising domestic financing costs as well as policy uncertainty in the wake of recent telecoms related scandals,” Moody's said.

Alongside, the Moody's report also pointed to the limited room for further fiscal stimulus, given the fact that the government has targeted to cap the fiscal deficit at 4.6 per cent of GDP in 2011-12, down from 4.7 per cent last fiscal. Turning to the rating aspect, Moody's noted that its outlook on India's ‘Baa3' foreign currency government bond rating remained stable with a ‘Ba1' rating on the country's local currency debt. “The outlook on the country's ‘Baa3' foreign currency government bond rating is stable. The gap between the ‘Baa3' foreign currency debt and ‘Ba1' local currency debt ratings reflects the potential likelihood that the government could prioritise its external obligations over its domestic obligations,” it said.

Pointing to India's strong medium to long-term economic potential by way of demographic profile, robust savings and investment rates and rising global competitiveness of its corporations, Moody's said: “Indian economy has demonstrated resilience to political, economic and financial shocks over the years.

“While it is not immune to an international growth slowdown, the strength of domestic demand and the diversity of the economy provide a buffer against a deceleration in globally exposed sectors.”

The buffer, it said, is the country's foreign currency assets, which are almost four times its annual foreign debt repayment obligations. “Moody's expects that this ample stock of reserves will facilitate meeting foreign exchange obligations, should external shocks lead to a cessation of foreign exchange inflows for a significant period,” the report said.

Alongside, while noting that the recent corruption cases and scandals have impaired the country's business environment currently, the agitation led by Anna Hazare also showed resilience of India's democratic system. “Corruption, highlighted in recent scandals around the Commonwealth Games as well as telecoms licensing, impairs a business environment ...The protests around the Lokpal/Jan Lokpal Bill are also an indication that corruption is a key concern across the country,” it said.

In particular, as proof of resilience of India's democratic system, Moody's said: “The most recent policy battle - over the anti-corruption Lokpal Bill - provides vivid evidence of the strengths of India's democracy (vociferous and organised dissent that checks government actions) and its challenges (protracted negotiations before any initiatives can be implemented).”

Source: The Hindu, http://www.thehindu.com/business/Economy/article2427338.ece?homepage=true

Ấn Độ yêu cầu Trung Quốc ngừng xây dựng cơ sở hạ tầng ở khu vực Kashmir do Pakistan chiếm giữ (PoK)

India tells China to stop infrastructure work in PoK

 

TNN

Sep 6, 2011

NEW DELHI: India has asked China to stop its infrastructure development activities in Pakistan-occupied Kashmir, even as it keeps a close watch on Beijing's "rapid" development of strategic roads, railway lines and airfields in Tibet as well as along the Line of Actual Control (LAC).

Defence minister A K Antony, in a written reply to Lok Sabha on Monday to a question posed by 18 MPs, said, "Government is aware that China is undertaking infrastructure projects in PoK. We have conveyed our concerns to China about its activities in PoK and asked them to cease such activities."

This comes after senior Indian Army commanders recently warned that India not only faced the threat from Chinese troops along the LAC with China but it could well extend to the Line of Control (LoC) with Pakistan due to the expansive Beijing-Islamabad military nexus.

Apart from the massive build-up of Chinese military infrastructure all along the 4,057-km LAC, especially in the Tibet Autonomous Region (TAR), there is growing concern about the Chinese People's Liberation Army troops actually being stationed along the volatile 778-km-long LoC between India and Pakistan.

Antony, on his part, said, "China has also been carrying out rapid infrastructure development in TAR and in areas along the India-China border. It's carrying out construction of strategic roads, railway lines and airfields close to the LAC, which has improved its military capability."

As earlier reported by TOI, this includes five fully-operational airbases, an extensive rail network and over 58,000-km of roads in TAR. India is now belatedly taking steps to strategically counter China's build-up, which ranges from deploying Sukhoi-30MKI fighters in the North-East to plans to raise a new mountain strike corps after raising two new mountain infantry divisions, with 1,260 officers and 35,011 soldiers. While the 56 Division has its HQ in Zakama (Nagaland) under the Dimapur-based 3 Corps, the 71 Division at Missamari (Assam) falls in the operational command of the Tezpur-based 4 Corps.

Source: The Times of India, http://timesofindia.indiatimes.com/india/India-tells-China-to-stop-infrastructure-work-in-PoK/articleshow/9877687.cms

 

Lạm phát giá cả lương thực ở Ấn Độ ở mức hai con số

Food inflation in double-digit; onion, fruits turn expensive

 

PTI
New Delhi, September 1, 2011

Food inflation entered the double-digit number after a gap of five months, at 10.05 per cent for the week ended August 20, as onion, fruits, vegetables and protein-based items turned more expensive.

Food inflation, as measured by the Wholesale Price Index (WPI), was 9.80 per cent in the previous week. The rate of price rise of food items was over 15 per cent during the same week last year.

This is the first time food inflation entered the double-digit mark since the week ended March 12, when it was at the same figure of 10.05 per cent.

As per the official data released today, prices of onion soared by 57.01 per cent year-on-year, while that of potato by 13.31 per cent during the week under review.

Fruits became dearer by 21.58 per cent and vegetables overall by 15.78 on an annual basis.

The prices of egg, meat and fish were up 12.62 per cent, while milk and cereals became dearer by 9.22 per cent and 4.64 per cent, respectively.

However, pulses became cheaper by 4.16 per cent and wheat by 2.52 per cent year-on-year.

Overall, primary articles recorded 12.93 per cent inflation for the week ended August 20, up from 12.40 per cent in the previous week. Primary articles have a share of over 20 per cent in the WPI.

However, inflation in non-food articles, which include fibres, oilseeds and minerals, stood at 17.19 per cent, down from 17.80 per cent in the previous week.

Source: The Hindu, http://www.thehindu.com/business/Economy/article2417155.ece?homepage=true

Ấn Độ coi Trung Quốc là hình mẫu phát triển kinh tế?

India looks to China as an economic model

 

1 Sep, 2011

 

MUMBAI: It seems to be a national obsession in India: measuring the country's economic development against China's yardstick.

At a recent panel discussion to commemorate the 20th anniversary of India's dismantling parts of its socialist economy, a government minister told business leaders to keep their eye on the big prize: growig faster than China.

"That's not impossible," said the minister, Palaniappan Chidambaram, who oversees national security and previously was finance minister. "People are beginning to talk about outpacing China."

Indians, in fact, seem to talk endlessly about all things China, a neighbor with whom they have long had a prickly relationship, but which is also one of the few other economies that has had 8 percent or more annual growth in recent years.

Indian newspapers are filled with articles comparing the two countries. Indian executives refer to China as a template for development. Government officials cite Beijing, variously as a threat, partner or role model.

But if keeping up with the Wangs is India's economic motive force, the rivalry seems to be largely one-sided.

"Indians are obsessed with China, but the Chinese are paying too little attention to India," said Minxin Pei, an economist who was born in China and who writes a monthly column for The Indian Express, a national daily newspaper. (No Indian economists are known to have a regular column in mainland Chinese publications.)

Most Chinese are unconcerned with how India is growing and changing, because they prefer to compare their country with the United States and Europe, said Pei, a professor at Claremont McKenna College near Los Angeles. He says he has tried to organize conferences about India in China but has struggled to find enough Chinese India experts.

Liu Yi, a clothing store owner in Beijing, echoed the sentiments of a dozen Chinese people interviewed in Beijing and Shanghai, in dismissing the idea that the two countries could be compared. Yes, he said, India was a "world leader" in information technology, but it also had many "backward, undeveloped places."

"China's economy is special," Liu said. "If China's development has a model, you could say it's the US or England."

It might be only natural that the Chinese would look up the development ladder to the United States, now that it is the only nation in the world with a larger economy, rather than over their shoulders at India, which ranks ninth. And while China is India's largest trading partner, the greatest portion of China's exports go to the United States.

So for India, China represents the higher rung to strive for.

Like India, China traces its civilization back thousands of years and has a population of more than 1 billion people. And China has lessons to offer because, under Deng Xiaoping in the late 1970s and early '80s, it started the transition to a more open and competitive economy more than a decade before India. Before Deng took power, India's economy was bigger on a per-capita basis than China's.

Whatever the reasons, Indians compare virtually every aspect of their nation with China. Infrastructure (China is acknowledged as being many kilometers ahead). The armed forces (China is more powerful). Universities (China has invested more in its institutions). The software industry (India is far ahead). Proficiency in the English language (India has the historical advantage, but China is catching up).
 

Source: The Economic Times,
http://economictimes.indiatimes.com/news/economy/indicators/India-looks-to-China-as-an-economic-model/articleshow/9820700.cms