EXCLUSIVE: Global crisis spending lacks direction: poll

EXCLUSIVE: Global crisis spending lacks direction: poll

NEW YORK (Reuters) - Two-thirds of people believe "massive government spending" to combat the financial crisis shows a lack of clear direction, according to a poll of nations representing 75 percent of the global economy issued on Wednesday.
The Ipsos/Reuters survey also found that 60 percent of the people in the 23 countries polled say increased government regulation will stifle economic growth, an opinion particularly strong in the United States and emerging market giants India and China.

Clifford Young of Ipsos Global Public Affairs, the international market research and polling company that carried out the online poll, said the survey showed opinions were mixed with a majority still wanting more government action on the economic downturn despite their concerns.
"There's worry and some degree of uncertainty about government actions," Young said. "The general message is we want governments to do something, but not too much, and we don't want to go back to the dark ages."
The survey of 23,000 people, conducted from April 14 to May 7, showed 58 percent don't think the United States has done enough to reinvigorate the global economy, 53 percent believe the European Union needs to do more, and more than two-thirds think China has not done enough. Read more...
http://www.reuters.com/article/ousiv/idUSTRE55211E20090603

India shines among weaker bourses

LONDON (Reuters) - Equities in Europe and Japan fell on Monday although emerging markets got a big boost from Indian elections which raised hopes of a stable, pro-economic reform government.
The dollar strengthened slightly against major currencies after last's week four-month low.
India was a bright spot for equity investors with the benchmark 30-share BSE index .BSESN surging more than 17 percent before trading was halted for the day.
Prime Minister Manmohan Singh's coalition defied predictions of a tight election result and was only about 11 seats short of an outright majority following the vote count.
A strong Indian coalition, free of the pressures from its former communist partners, has boosted the prospect of reforms to encourage growth in Asia's third-largest economy.
http://www.reuters.com/article/hotStocksNews/idUSTRE54B01U20090518

The future belongs to India, not China

The future belongs to India, not China
Spring 2009 Series
On May 12, 2009 an important Intelligence Squared debate will take place in London

Event Information:
All bets are now on China as the nation that will soon rival the USA as the world's other superpower. But hasn't anyone been looking across the Himalayas? India, a democracy of over a billion people, has a rate of growth almost as impressive as China's, a burgeoning middle class, a highly skilled work force and an abundance of raw materials. More important still, it operates under the rule of law not the rule of the politburo. Could it be that India ends up the dominant power of the eastern hemisphere?
The debate will take place at: Royal Geographical Society, Ondaatje Theatre.
http://www.intelligencesquared.com/events.php?event=EVT0181

Speakers for the motion:
Gurcharan Das Gurcharan Das is an author and public intellectual. He was CEO of Procter & Gamble India, and later Managing Director (Strategic Planning) of Procter & Gamble Worldwide, before he took early retirement to pursue the life of a full time writer. He is author of the bestseller, "India Unbound", which has been published in 17 languages and has been filmed by the BBC. He writes a regular column for the Times of India and six Indian language newpapers, and occasional pieces for the Wall Street Journal, Financial Times and Foreign Affairs.

Mark Tully Mark Tully was BBC Delhi correspondent from 1972 to 2004. Since 2004 he has been a freelance journalist, writer and broadcaster resident in Delhi. He is author of five books on India, the latest of which is "India's Unending Journey". He was educated at New School in Darjeeling, Marlborough College in the UK, and at Cambridge where he read history and theology.

Deepak Lal Indian-born classical liberal economist. He is the author of numerous articles on development economics, and his books include "In Praise of Empires: Globalisation and Order" and most recently "Reviving the Hidden Hand: The Case for Classical Liberalism in the 21st Century". He is James S. Coleman Professor of International Development Studies, University of California.

Speakers against the motion:
Lord Powell Charles Powell was Private Secretary to both Margaret Thatcher and John Major, and was a key foreign policy adviser to Mrs Thatcher. He was Chairman of the China-Britain Business Council from 1998 to 2007.

Danny Quah Malaysian-born Head of Department and Professor of Economics at the London School of Economics. He has delivered lectures at the United Nations, the Hay Festival Segovia, the World Science Forum, No. 10 Downing Street, and Khazanah Megatrends Forum, and has had his writings translated into 18 different languages. He is a Governor of the National Institute of Economic and Social Research, and has consulted for the World Bank, the Bank of England, and the Monetary Authority of Singapore.

Sir David Tang KBE Hong Kong businessman and socialite best known as the founder of the Shanghai Tang chain, although he sold his interest in the company in 1998. More recently Tang opened the Cipriani in Hong Kong and the China Tang restaurant at the Dorchester Hotel. He is a frequent contributor to publications such as The Spectator, The Daily Telegraph and the International Herald Tribune.

Indian Stock Market: BSE Sensex provisionally falls 7.3 pct, Satyam dives

BSE Sensex provisionally falls 7.3 pct, Satyam dives

MUMBAI (Reuters) - The BSE Sensex (^BSESN : 9586.88 -749.05) provisionally shed 7.31 percent on Wednesday after the head of Satyam Computer Services (SATYAM.BO : 39.95 -139.15) resigned and said the firm's profits had been inflated sending its stocks down more than three-fourth.
The 30-share BSE index provisionally closed 755.62 points lower at 9,580.31.

Shares in Satyam provisionally closed 77.1 percent lower at 41 rupees.
The 50-share NSE (^NSEI : 2920.4 -192.4) index provisionally ended 6.3 percent lower at 2,918.

BANGALORE (Reuters) - The head of India's embattled Satyam Computer Services (SATY.BO) resigned on Wednesday and said the firm's profits had been inflated, sending the stock down more than 80 percent and roiling investor confidence.
India's biggest corporate scandal in memory threatens future foreign investment flows into Asia's third-largest economy and casts a cloud over growth in its once-booming outsourcing sector.

“Titans- Heroes- Mortals” report on Asian Companies

Analysis from Stock Market Guide , Japanese equity research firm, Nomura Securities, released “Titans- Heroes- Mortals” report on Asian Companies

Japanese equity research firm, Nomura Securities, released “Titans- Heroes- Mortals” report on Asian Companies which will give an idea about the future growth prospects of the Indian Companies. Nomura picked 5 Titans and 6 Heroes among Indian Companies which will have better growth prospects. Blog readers should treat it as another aid in their research to pick good companies but not as an investment advice.

Mumbay the 19 Million people city, does not seem to have heavy suffered from the turmoil of the terrorist attack.

Mumbay the 19 Million people city, does not seem to have heavy suffered from the turmoil of the terrorist attack.
Although there is huge damage to the landmark 'Taj Mahal Hotel' and the population is shocked, life is returning to normalcy. It is unlikely a long term effect on the Indian economy is inflicted. A short term effect on tourism and new business investments can be expected.
Many questions rise about security and the effectiveness of the Indian Forces.
The city is home to the Reserve Bank of India, the Mumbai Stock Exchange (SENSEX index), and a variety of other major financial institutions, and is a leading commercial and financial center. The government and service sectors are also important in the city's economy.
Numerologists and Astrologers consider the number 26 a bad Omen.
Reshuffling in politics as ministers take responsibility. Tensions are rising between India and Pakistan as long it is not clear if Pakistan is in some way involved.
The Pakistan Connection (Newsweek)
Evidence is still sketchy, but tensions are already rising between India and its nuclear-armed neighbor.


International / Asia Pacific (NYT Permalink)
India Faces Reckoning as Terror Toll Eclipses 170
By SOMINI SENGUPTA and KEITH BRADSHER - Published: November 30, 2008
As bodies were recovered, questions arose on whether the authorities could have anticipated the attack and improved security.

Attacks on India's financial capital not seen having long-term impact, though tourism and new investment will suffer.

For the latest news, see the Times of India

Mumbai siege turns political
(01:06) Report
Nov 30 - The political fallout begins as Indians count the cost of a three-day siege by Islamist militants in Mumbai. Home Minister Shivraj Patil submits his letter of resignation.

With the world in financial turmoil the Mumbai terrorists clearly wanted a 9/11 style attack

With the world in financial turmoil the Mumbai terrorists wanted a 9/11 style attack in India to shock and destabilize the world.

Moment, method, style and timing point to a deliberate attack to create an 'Indian 9/11'.
The terrorist were very well prepared and trained, had set their targets, and knew the layouts of their targetted locations.
Attackers were motivated and their logistics were all set to a determination for a days long seige and struggle.
They must have had inside information and outside help (unproven).
The attack on the Jewish Center and the taking of Westerners as hostages implicates they wanted to reach 'a maximal effect'. Britsh-born Pakistans were among the attackers.
Atmost two hundred people killed and at least 300 wounded, 17 Indian Police men among the victims. The count for victims is still going on.

International / Asia Pacific (New York Times Permalink)
Mumbai Terrorist Siege Over, India Says
By SOMINI SENGUPTA and KEITH BRADSHER - Published: November 29, 2008
Indian commandos took control of the Taj Mahal Palace & Tower in Mumbai after a lengthy assault, the head of the commando unit said in a news conference.

Murdoch: China, India will reshape the world

Murdoch: China, India will reshape the world
By ROHAN SULLIVAN, Associated Press Writer Rohan Sullivan, Associated Press
SYDNEY, Australia – Media tycoon Rupert Murdoch says the ongoing metamorphosis of China and India from historic backwaters into economic powers will help reshape the world in the next few decades.
The News Corp. chief gave an upbeat assessment of the future and made a vigorous case for free markets despite troubled economic times and what he called "naked, heartless aggression" in the world.
In the first of a series of speeches in his birth country of Australia, Murdoch spoke Sunday of "the great transformation we've seen in the past few decades, the unleashing of human talent and ability across our world, and the golden age for humankind that I see just around the corner."