Monday, 16 December 2013

Jaswant Singh*: Asia’s Historical Furies *India's Finance Minister 1996,2002-2004,India's Foreign Minister 1998-2004

"A country’s foreign policy is supposed to be aimed at advancing its national interest. But, in large parts of Asia, the national interest – whether building commercial ties or bolstering security – is often subordinated to history and its hold on the popular imagination. As US Vice President Joe Biden just discovered on his tour of Japan, China, and South Korea, the American novelist William Faulkner’s observation – “The past is never dead. It’s not even past.” – could not be more apt.
"One commonly cited example of this is the relationship between India and Pakistan.
Indian P.M. Singh  and Pakistan P.M. Sharif recognize recognize the vast economic potential of enhanced bilateral trade ties, and the progress that they have sought in this area is clearly in both countries’ national interest. But their diplomatic overtures have been quickly stymied by those who cannot accept such reasoning".
"Perhaps Asia’s most dangerous case of historical obsession is to be found in the relationship between China and Japan. The current dispute in the East China Sea over the Japanese-controlled Senkaku Islands (the Diaoyu Islands in China) would likely be less tense if the atrocities of the Sino-Japanese War were not rehashed so often in contemporary Chinese life.
  In fact, Japan has attempted to atone for its past actions, including by offering enthusiastic support to Deng Xiaoping’s efforts to open up the Chinese economy. The trillions of yen that Japanese businesses have invested in China since the 1990’s – not to mention the transfer of critical technologies – could not have been about profit alone (and, in any case, Japanese investment has benefited both economies).
  But, while these efforts have helped to deepen Japan’s economic ties with China, they have not had the transformative impact on bilateral relations that one might have expected. Indeed, their relationship is now characterized by what the Japanese call seirei keinetsu (cold politics, hot economics).
  Bad history also stalks the relationship between Japan and South Korea – a particularly revealing case, given how closely their strategic interests align. Here are two democracies, both among America’s closest allies, unable to overcome the burden of the past. For South Koreans, it is a heavy burden, rooted in Japanese colonization and the myriad horrors of World War II. But the simple fact is that both countries would benefit substantially, in security terms in particular, from effective cooperation.
  In fact, serei keinetsu defines the Asian status quo: countries that cannot seem to overcome their historical animosities when it comes to foreign policy readily acknowledge that better relations means better economies. East Asia, in particular, has experienced an unprecedented surge in intra-regional trade, investment, and even tourism over the last two decades.

Japan could go a long way toward helping its neighbors overcome the poisoned past that it shares with so many of them as a result of its old imperial ambitions. Just as US President Richard Nixon’s unyielding anti-communism uniquely suited him to establish diplomatic relations with China, Abe, an affirmed nationalist, may be the Japanese politician best able to blend contrition for the past with forthrightness about the present.
  "The good news is that Abe has shown signs of this kind of courage. At a 2006 summit with Chinese leaders during his first stint as Japan’s prime minister, he agreed to establish a joint commission, involving historians from Japan, China, and elsewhere, to study twentieth-century history. The idea was that the commission could make unbiased recommendations about contentious issues like the contents of history textbooks and even the Yasukuni shrine, a nationalist pilgrimage site where the remains of Japanese war criminals, among others, are interred.
  If Abe revived this initiative today, he could help to dampen the regional antagonism he faces in trying to make Japan a “normal” country, with a military capable of participating in collective regional defense. Such an initiative may not work with China, where the government still uses the war with Japan to rouse nationalist sentiment. But countries like South Korea that are feeling the pressure of China’s rise – as demonstrated by the current furor over China’s unilateral expansion of its air defense zone – may well reciprocate such an effort. That alone should be reason enough for Abe to act".

Source:  Jaswant Singh*,Project Syndicate 
             *India's Finance Minister 1996,2002-2004
              India's Foreign Minister  1998-2004


   It seems that Japanese P.M Shinzo Abe is now far away from its 2006 openess to overcome the 
poisened past  of World War II events, he acts now like the hawkish wing of his party. And with that position it is very unlikely to dampen Sino-Japanese antagonism.


Famous Chinese figures with "their own" craters

Throughout history, objects and places have been named after leading inventors, explorers and scientists, in honor of their contributions to mankind. Believe it or not, the same holds true with the craters on the moon.
And a number of famous Chinese figures are on that select lunar list. The first to have had one of the moon’s craters named after him was Zu Chong-zhi, a Chinese mathematician who lived in the 5th century. He accurately calculated the constant Pi, which is the ratio of a circle’s circumference to its diameter, to six decimal places.
The second Chinese to be immortalized on the moon’s pockmarked surface is Wan Hu, an official from over 600 years ago who wanted to be the first man into space. Legend goes he strapped himself to a chair equipped with 47 small rockets and two small kites.
Sadly, he was killed in the ensuing explosion. Next to receive the lunar honors were Cai Lun, the man who invented paper, and Bi Sheng, who came up with the movable type printing press. But, of all the Chinese figures to have craters named after them, none can surpass the Goddess Chang’e. Though Chinese myth says the Goddess resided on the moon with her rabbit for thousands of years, she was only given her own crater in 1976.
Source:CCTV

U.S. Closing Market View

"U.S. equities rebounded from two consecutive weeks of loses in positive fashion, posting solid gains in today's session. M&A news and upbeat eurozone business activity reports provided the catalyst, helping to somewhat soothe anxiety over increased speculation that the Federal Reserve could begin to rein in its asset purchases as soon as its two-day meeting which begins tomorrow. Meanwhile, Treasuries finished modestly lower amid the uncertainty, and after reports showed domestic industrial production exceeded forecasts, domestic manufacturing data showed modest expansion and 3Q productivity was revised solidly higher."

"The Dow Jones Industrial Average  rose 130 points (0.8%) to 15,885, the S&P 500 Index gained 11 points (0.6%) to 1,787, and the Nasdaq Composite advanced 29 points (0.7%) to 4,030. In moderate volume, 672 million shares were traded on the NYSE, and 1.9 billion shares changed hands on the Nasdaq. WTI crude oil rose $0.88 to $97.48 per barrel, wholesale gasoline gained $0.01 to $2.64 per gallon, and the Bloomberg gold spot price rose $2.24 to $1,240.93 per ounce. Elsewhere, the Dollar Index-a comparison of the US dollar to six major world currencies-was 0.2% lower at 80.07.

The Wall Street Journal is reporting that Sprint Corp. , which was acquired by Japan'sSoftBank Corp. earlier this year, is working toward a possible bid for rival T-Mobile US Inc. , in a deal worth more than $20 billion, according to people familiar with the matter. T-Mobile US, controlled by Germany's Deutsche Telekom AG , was created by a merger between T-Mobile USA and MetroPCS Communications Inc. None of the companies have commented on the report, while CNBC's David Faber noted that he has not been able to come up with any information suggesting the two companies are in talks about a deal. Shares of DTEGY were nicely higher, while S traded modestly to the upside. However, SFTBY and TMUS were solidly lower. 

In other M&A news, Singapore's Avago Technologies Ltd.  announced that it has reached an agreement to acquire California-based LSI Corp.  for $11.15 per share in an all-cash transaction valued at $6.6 billion. The companies said the deal creates a highly diversified semiconductor company with about $5.0 billion in annual revenues. LSI traded over 38% higher, while AVGO also gained solid ground. 

Moreover, American International Group Inc.  announced that it has agreed to sell its aircraft leasing business International Lease Finance Corp. to Netherlands-based AerCap Holdings NV for cash and stock with a total value of about $5.4 billion. Upon completion of the transaction, AIG will hold approximately 46% of the common stock of AER. AIG was higher, while AER rallied over 30%." 

Source: Charles Schwab,U.S. Closing Market View

Art Basel World's Premier Modern and Contemporary Art Show

Art Basel stages the world's premier Modern and contemporary art shows, held annually in Basel,Miami Beach, and Hong Kong. Founded by gallerists in 1970, Art Basel has been a driving force in supporting the role that galleries play in the nurturing of artists, and the development and promotion of visual arts. 

In addition to showing exciting works by world-renowned artists, Art Basel is always innovating, thus expanding its platform for new artists who represent the vanguard of the visual arts. Its worldwide reputation – earned over the last forty years – for showing work of the highest merit, and attracting the world's leading gallerists and collectors, has made Art Basel the place where the art world meets.

In 1970, a few Basel gallerists put their passion and determination behind an ambitious vision, and now, over forty years later, Art Basel is recognized as the premier international art show, providing a platform for artists and gallerists from around the world. 

OUR ROLE

The dynamic relationships between art galleries, their artists, private collectors and public institutions play an essential role in today's artworld, and connecting the international art community has been Art Basel's goal since its beginning.  

OUR SHOWS

Three annual shows bring the artworld together in some of the world's most exciting venues:Basel, in the heart of Europe;Miami Beach at the nexus of North and South America; and Hong Kong, the gateway to Asia.

TALKS ARCHIVE

Some of the most prominent and respected figures in the international art world have shared their knowledge, ideas and expertise during Art Basel's Salon and Conversations Series. Both extensive and engaging, more than 200 of these thought-provoking and wide-ranging exchanges are available in our video archive. 

Source: Art Basel

Sinocism: Events on China last week

"Policymakers were busy with two important conferences in the last week. The Central Economic Work Conference (CEWK) concluded Friday and the Central Urbanization Work Conference ended Saturday'.
"The CEWK made no mention of a 2014 GDP target but did lay out six tasks for 2014:
“guaranteeing food safety, reducing industrial overcapacity, containing local government debt, enhancing coordination of regional development, improving people’s livelihoods and promoting further opening up”
The focus on local debt is another obvious sign of leadership concerns about the issue, as is the delay in releasing the results of the Q3 2013 local debt audit. Perhaps we will have to wait for the March NPC meeting and Premier Li’s work report for the 2014 GDP target?
The urbanization conference appears to have concluded without approval of the long awaited urbanization plan but with top-level agreement on the direction of urbanization. Expect less focus on “build it and they will come” local government infrastructure binges and more on limited hukou reform and what the leadership calls “human-centered urbanization”. Local officials and their cronies may not like it but Beijing has been signaling this for a while, with official media also running several stories on “ghost cities” and urbanization white elephants over the last few months. Implementation will of course be messy but when is anything not here?
The Third Plenum ended a month ago and there has been no official release of the composition of the Central Party Leading Group on Comprehensively Deepening of Reform or the National Security Commission. It is unclear if this is a sign something is amiss, the membership lists were never intended to be made public, or is it too soon to tell.
The US-China relationship is not ending 2012 on a positive footing. The White House was apparently given five minutes advance notice of the new air defensive identification zone, exactly the kind of surprise Obama supposedly asked Xi Jinping to avoid in the relationship. And on December 5 a PLA Navy ship attached to the Liaoning aircraft carrier group forced a US Navy vessel to take evasive maneuvers in the South China Sea.
This week we should learn whether or not China will begin effectively expelling reporters from The New York Times and Bloomberg by not renewing their visas, a move that is sure to provoke a reaction in DC. Vice President Biden raised this issue with President Xi Jinping, so if the visas are not renewed expect it to be viewed as a direct rebuke of the VP and his attempts at diplomacy. I expect some to be renewed and some to not, and for Bloomberg to come out better than the New York Times. Otherwise why would any foreign media organization believe Bloomberg-style appeasement is the right approach given the reputational risk?
2013 will be the Year of the Horse, so let’s hope a horse year is better than a snake year for relations between eagles and pandas. Then again, hope is never a responsible strategy…
Rumors about the imminent arrest of former Politburo Standing Committee member Zhou Yongkang continue to swirl. Two Sundays ago the rumor was he was under house arrest and that an official announcement would be made Monday. That obviously didn’t happen, and while where there is smoke there is likely fire so far there has not been a conclusive report on is status. I have no idea what is going on but I can not find any Beijing friend who does not think the rumors are true.
A move against a PBSC member would be both unprecedented and risky, though if Xi pulls it off then he would appear to have control over both the military and security services, making him probably the most powerful leader since Mao. But given the rumors and now the expectations, if he is not taken down then all the tiger talk in the anti-corruption campaign will be seen as just that and Xi’s prestige may take a hit.
Xi issued his “Eight Guidelines” to rein in extravagance just over a year ago and the campaign has been harsher and better enforced than many expected. Businesses and investors still hoping for any near-term rebound in luxury or high-end food and beverage spending will likely be very disappointed by the newly released guidelines to rein in official spending.
Source: The Sinocism China Newsletter

Contradictions in China's Foreign Policy (Will Continue)

You may have missed the funeral, but China’s new leadership has quietly buried the admonition of former leader Deng Xiaoping that as China rises in wealth and power it should maintain a low profile (known as taoguang yanghui). In its place, the new leadership is advancing a more proactive diplomacy in surrounding regions. President Xi Jinping is displaying self-confidence that seems to match the mood of the times in China, one of renewed nationalism and self-assertion. In most neighboring capitals this development will be viewed positively but warily; in Manila and Tokyo, less positively.
The issue is that China wants the benefits of a charm offensive with its neighbors, but it also wants to jealously guard its far-flung territorial claims. It cannot do both.
Beijing held a major conference on peripheral diplomacy on October 24 and 25. Xi made what was described as an “important speech,” followed by remarks by Premier Li Keqiang and Beijing’s top party and government foreign policy officials. This was shortly before China announced its intention to create a State Security Commission (also variously translated as National Security Council or National Security Commission) at the third plenum of the 18th Party Congress. Taken together, these actions portend a concerted activism that will deploy China’s newly acquired wealth and influence to “maintain a stable peripheral environment.”
Xi’s speech catalogued the economic aid, trade, scientific and technological, financial, security, and public relations diplomacy tools for China’s regional strategy. The official press releases did not mention sensitive issues such as territorial disputes or the soon-to-be-imposed air defense identification zone (ADIZ) over the East China Sea. According to people familiar with the details of the meeting, however, these issues were very much on the agenda.
Source: Sinocism

Russia in Talks With Ukraine Over Possible Loan

According to a report from the Wall Street Journal,"Russia said Monday it is in talks with Ukraine about a possible loan to help bail out its crisis-stricken neighbor, which is facing possible economic collapse amid large-scale protests over its rejection of a trade deal with the European Union''.
Ukraine is facing its biggest crisis in a decade after President Viktor Yanukovych walked away from the long-planned deal with the European Union last month, saying the terms of the deal and heavy trade pressure from Russia not to sign would have been devastating for the Ukrainian economy .
A loan and cheaper gas from Russia would be a lifeline for Ukraine's recession-hit economy but would risk further infuriating protesters who have been camped out for weeks on Kiev's main square demanding closer ties with Europe and an end to economic and political dependence on Russia.
Russian and Ukrainian officials are entering loan talks ahead of a meeting between Mr. Yanukovych and Russian President Vladimir Putin in Moscow on Tuesday to discuss bilateral trade and economic cooperation.
"Negotiations are under way," a spokesman for Russia's finance ministry told The Wall Street Journal. A spokeswoman for Ukraine's finance ministry had no immediate comment.
The Kremlin said it expected a number of deals to be signed during Tuesday's meeting.

Malaysia Population 2013

Source:worldpopulationreview

Malaysia Population 2013


Malaysia is a federal state that has a monarchy system of governance. It is comprised of 13 large states and 3 different federal territories. Its area is about 329,847 square kilometers. The Malaysian land is divided into two parts, namely Malaysian Borneo and Peninsular Malaysia, between which the South China Sea flows.
Malaysia borders Brunei,Thailand, and Indonesia. Its sea borders Singapore,Vietnam and the Philippines. Kuala Lumpur is the capital of Malaysia.

Malaysia Population 2013

The current population of Malaysia in total is 29,791,949. Of this number, 50.7% (or 15,106,780) is the male population, and the remaining 49.3% (which is 14,685,169) is female population.
During the 1960s Malaysian population was recorded to be 8.16 million, which gradually increased to 10.91 million in 1970. In 1980 the Malaysian population increased to 13.83 million, after which a drastic rise took place and the population reached 20.21 million in 1994. Finally, the population rate was 28.86 million in the year 2011.
The population of Malaysia was 28,334,135 according to the 2010 census. This made Malaysia the 42nd most populated country in the world. Malaysia consists of people of different cultures and religions. Only 50.4 percent of the population is Malay, and the rest is Bumiputera, Muslim, etc., including majorities and minorities.
Malaysian nationality is only given to a child whose parents are both Malaysian. Dual nationality in Malaysia is not allowed.
The infant mortality rate in 2009 was 6 deaths per 1000, and life expectancy at birth in 2009 was 75 years in Malaysia. Five percent of the government social sector development budget is spent on health care to develop Malaysia into a medical tourism destination. Peninsular Malaysia has an urban population of 70%. This area consists of 28 million Malaysians, and the population is mostly concentrated here. Kuala Lampur is the capital and is also the center of financial and commercial activities. A city named Putrajaya was constructed in Malaysia to normalize the growing population in Kuala Lumpur and is now the seat of government.
Malaysia is estimated to have over 3 million migrant workers because of a rise in labor-intensive industries. It is estimated by the Sabah-based NGOs that out of those 3 million migrant workers, 2 million are illegal migrants.

Population History

YearPopulationChange
19506,110,000N/A%
19608,161,00033.57%
197010,909,00033.67%
198013,834,00026.81%
199018,211,00031.64%
200023,421,00028.61%
201028,276,00020.73%
 

Population Projections

YearPopulationChange
202033,196,00017.40%
203037,872,00014.09%
204041,770,00010.29%
205045,204,0008.22%
206048,224,0006.68%
207050,383,0004.48%
208051,872,0002.96%
209053,195,0002.55%
210054,375,0002.22%
 

How Many People Live in Malaysia Right Now?

Based on the most recent estimates, the current population is projected as:
29,768,915

U.S. Energy Information Administration: Increased tight oil production, vehicle efficiency reduce petroleum and liquid imports

The U.S. Energy Information Administration's Annual Energy Outlook 2014 Reference case shows that recent growth in domestic crude oil and natural gas production is expected to continue for many years. In 2016, crude oil production is expected to be close to the historical high of 9.6 million barrels per day, a record set in 1970. The AEO2014 Reference case was released at 9:30 a.m. EST today. It contains baseline projections for U.S. energy production, consumption, and imports through 2040.
While domestic crude oil production is projected to level off and then slowly decline after 2020, natural gas production grows steadily, with a 56% increase between 2012 and 2040, when production reaches 37.6 trillion cubic feet. The full AEO2014 report, to be released next spring, will also consider alternative resource and technology scenarios, some showing significantly higher long-term oil production than in the Reference case.
graph of U.S. liquid fuels supply, as explained in the article text
Some other key findings of the AEO2014 Reference case include:
Low natural gas prices boost natural gas-intensive industries. Industrial shipments are expected to grow at 3.0% per year over the first 10 years of the projection and then slow to 1.6% annual growth through 2040. Bulk chemicals and metals-based durables account for much of the increased growth in industrial shipments. Industrial shipments of bulk chemicals, which benefit from an increased supply of natural gas liquids, grow by 3.4% per year from 2012 to 2025. The competitive advantage in bulk chemicals diminishes in the long term. Industrial natural gas consumption is projected to grow by 22% between 2012 and 2025.
Natural gas overtakes coal as the largest fuel for U.S. electricity generation. Projected low prices for natural gas make it a very attractive fuel for new generating capacity. In some areas, natural gas-fired generation replaces power formerly supplied by coal and nuclear plants. In 2040, natural gas accounts for 35% of total electricity generation, while coal accounts for 32%. Generation from renewable fuels, unlike coal and nuclear power, is higher in the AEO2014 Reference case than in AEO2013. Electric power generation from renewables is bolstered by legislation enacted at the beginning of 2013 extending tax credits for generation from wind and other renewable technologies.
Higher natural gas production supports increased exports of pipeline and liquefied natural gas (LNG). In addition to increases in domestic consumption in the industrial and electric power sectors, U.S. exports of natural gas also increase in the AEO2014 Reference case. U.S. exports of LNG increase to 3.5 trillion cubic feet (Tcf) before 2030 and remain at that level through 2040. Pipeline exports of natural gas to Mexico grow by 6% per year, from 0.6 Tcf in 2012 to 3.1 Tcf in 2040. Pipeline exports to Canada grow by 1.2% per year, from 1.0 Tcf in 2012 to 1.4 Tcf in 2040. Over the same period, pipeline imports from Canada fall by 30%, from 3.0 Tcf in 2012 to 2.1 Tcf in 2040, as more demand is met by domestic production.
Car and light truck fuel use declines sharply. AEO2014 includes a new, detailed demographic profile of driving behavior by age and gender as well as new, lower population growth rates based on updated Census Bureau projections. As a result, annual increases in vehicle miles traveled (VMT) in light-duty vehicles (LDV) average 0.9% from 2012 to 2040, compared to 1.2% per year projected over the same period in AEO2013. The rising vehicle fuel economy of LDVs more than offsets the modest growth in VMT, resulting in a 25% decline in LDV energy consumption between 2012 and 2040 in the AEO2014 Reference case.
The full AEO2014 will be released this spring with side cases that examine the effect of alternative resource and demand assumptions as well as changes to some existing policies on the energy sector.

China shoppers ring luxury tills from London to New York

"Fang Ying's December wish list of Louis Vuitton handbags and Chanel perfume is not only for Christmas. Fang, 33, a secretary working in Shanghai, writes one every month for friends and family travelling abroad".
"Fang is not alone. Over two-thirds of luxury spending by mainland Chinese was made overseas in 2013, an increase from 2012, according to theChina Luxury Market Study from consultancy firm Bain & Company released on Monday.
Chinese shoppers often wait for trips abroad, plan shopping sprees to Hong Kong or get friends or specialist "daigou" agencies to bring back luxury items from overseas because they are often cheaper due to China's high import taxes.
 China is the number one luxury spender worldwide, making up 29 percent of total global luxury spend this year, according to the Bain report. So Chinese consumers - wherever they may be - are a key battleground for firms from LVMH Moet Hennessy Louis Vuitton SA  and Gucci owner Kering Holland NV  to trenchcoat maker Burberry Group PLC , cosmetics giant L'Oreal SA  and Cartier watchmaker Compagnie Financiere Richemont SA .
"The store fronts are in Shanghai and Wuhan, but the cash registers are in Los Angeles, New York and London," said Sage Brennan, CEO of China Luxury Advisors, which helps brands in the Americas and Europe attract Chinese shoppers.
Chinese luxury spending slowed at home in the wake of a crackdown on corruption and shows of wealth, prompting warnings of a sales slowdown from liquor maker Pernod Ricard SA  and Volkswagen-owned  Bentley Motors and Lamborghini.
Luxury brand store openings dropped significantly in 2013, according to Bain, which estimated China's luxury market will grow two percent this year versus seven percent a year earlier.

Source: Reuters

U.S. Industrial production jumps in November to record high

Industrial production in November saw the biggest one-month percentage gain in a year to reach a record high, though the monthly advance was led by utilities output after an unusually cold month. The Federal Reserve said Monday that industrial production climbed 1.1% in November, the biggest percentage rise since Nov. 2012, as utilities output jumped 3.9%. Also, October production was revised up to a 0.1% gain from a previously reported 0.1% drop. Economists polled by MarketWatch had expected a 0.6% gain for November. The level of 101.3 for industrial production is on an index that was 100 in 2007. Capacity utilization rose to 79% from an upwardly revised 78.2% in October. 

Source: marketwatch

UK housebuilders counter Ed Miliband's land-hoarding claim

Britain's housebuilders have launched a scathing counter attack against Ed Miliband's claim that they are hoarding land for profit.
The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis.
Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history.
"The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless."
Britain's chronic housing shortage is expected topushuppricesbyasmuchas 8% next year according to the property website Righmove , unless a flood of new properties are built.
The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots.
Redfern strongly rejected the Labour leader's accusation that housebuilders are hoarding land.
"We continue to start all sites as soon as possible once an implementable planning permission is received. Taylor Wimpey specifically and the industry as a whole have only a tiny percentage of sites that have a planning permission, where construction has not been started."
A spokesman for the Home Builders' Federation (HBF), the industry's trade body, said: "Developers don't land bank, all the evidence is there. As soon as developers get a planning permission they want to start on site. Developers are not land hoarders."
One major housebuilder said companies in the sector would be perceived as hugely risky and lose investment if they did not have sufficiently long land bank holdings of typically more than four years.
The HBF said the industry would work with Michael Lyons, the chair of Labour's new independent commission on housing, to improve understanding of the issues.

Source: theguardian

FTSE bounces back from two-month low, technicals support

The top share index bounced back from two-month lows on Monday, led by power provider Aggreko after it gave encouraging profit guidance, and as the market found some technical support after recent sell-offs.

A survey showing euro zone businesses ended the year on a high as new orders surged also helped the blue-chip FTSE 100 to extend gains. The index was up 32.94 points, or 0.5 percent, at 6,472.90 points by 1131 GMT, after having fallen as far as 6,422.23, its lowest since early October.
The FTSE 100 index recouped some losses after falling in the past four sessions and ending last week in negative territory, its sixth consecutive week of losses and the biggest weekly decline since late June. However, it is still up nearly 10 percent so far this year.
Source: Reuters

Euro zone October trade surplus up on higher exports, lower imports

The euro zone's external trade surplus almost doubled year-on-year in October, data showed on Monday, thanks to a modest rise in exports and a fall in imports which point to rising euro zone competitiveness but still weak domestic demand.

The trade surplus for the 17 countries sharing the euro, unadjusted for seasonal swings, was 17.2 billion euros (£14.48 billion) in October, compared with 9.6 billion euro surplus in the same period last year.
The trade surplus of the 9.5 trillion euro economy more than doubled in the first ten months of the year to 122.8 billion euros compared with 57.4 billion euros in the same period of 2012, data from the EU's statistics office showed.
Non-seasonally adjusted, exports from the euro zone rose by 1 percent on the year in October after a 3 percent increase in September, while imports fell by 3 percent, following a 1 percent rise in September.
In a sign the southern periphery was regaining competitiveness, crucial for balancing the fragile economic rebound in the single currency area,Portugal saw exports rising 4 percent in the first nine months and exports from Greece and Spain were up 5 percent.
The United Kingdom, flirting with the idea of leaving the European Union after a planned 'in-or-out' referendum in 2017, remains the bloc's biggest trade partner both in terms of exports and imports.
Seasonally adjusted exports from Germany, Europe's largest economy, fell 0.9 percent in October, which was counterbalanced by a 1.0 percenmanyt decline in imports.
The euro zone recovery almost stalled in the third quarter after a return to growth in the second quarter.
Source: Reuters

EU says suspends work with Ukraine on trade agreement

The European Union said on Sunday it was suspending further work with Ukraine on an ambitious trade and cooperation agreement because the government in Kiev had failed to give a clear commitment to signing the deal.
EU enlargement chief Stefan Fuele said on Twitter that the words and deeds of Ukrainian President Viktor Yanukovich and his government on the proposed trade pact with the EU were "further and further apart. Their arguments have no grounds in reality."

Fuele said he had told Ukraine's first deputy prime minister Serhiy Arbuzov in Brussels last Thursday that further discussion on the trade agreement was conditional on a clear commitment by Kiev to sign it, but he had received no response.
As a result, work on the agreement was "on hold", he said.
Source: Reuters

Euro zone business recovery ends year on a high

Euro zone businesses ended the year on a high as new orders surged, but the chasm between a resurgent Germany and wilting France has widened this month, surveys showed on Monday.

Markit's Flash Eurozone Composite Purchasing Managers' Index (PMI), which gauges business activity , rose to 52.1 in December from 51.7 last month.
It was the second-highest reading since mid-2011 and beat the median forecast in a Reuters poll for 51.9. The index has been above the 50 mark that denotes growth for all the second half.
However, survey compiler Markit warned that while the increase in growth was reassuring, the country-by-country breakdown of the data revealed a lopsided recovery, with France floundering and Germany steaming ahead.
"But we should not get too carried away either - the still-low level of the overall index is a firm reminder that this recovery is still very fragile and sluggish."
The French composite PMI fell to a seven-month low of 47.0 and signalled a steady contraction in activity, while the same measure in Germany showed a solid expansion to 55.2.
Markit said the data suggested the euro zone economy, which escaped from its longest-ever recession earlier this year, would grow around 0.2 percent this quarter, in line with a Reuters poll published last week.
New orders rose for the fifth month, suggesting the recovery should continue into 2014.
Markit's Eurozone Manufacturing PMI rose to 52.7 in December from November's 51.6. That was its best showing in 31 months and smashed median expectations for 51.9. It was higher than all forecasts in a Reuters poll of 35 economists.
A gauge measuring manufacturing output soared to 54.8 from 53.1, a level not seen in more than 2-1/2 years.
As new orders for manufactured goods grew, factories were able to build up a backlog of work at the fastest pace since April 2011.
"This is very much a manufacturing-led recovery. It's reflective of companies, especially in Germany, being more competitive and taking advantage of the upturn in global trade," said Markit's Williamson.
The PMI for the services sector, which makes up the bulk of the euro zone's economy, dipped to 51.0 from 51.2, confounding expectations for a rise to 51.5.
Services firms were forced to cut prices again last month, as they have done for the last two years, to drum up business.
Source: Reuters

Nikkei dips to 3-1/2-week low, mkt jittery before Fed meet.

Japan's Nikkei share average fell 1.6 percent to a 3-1/2-week closing low on Monday, hit by selling in futures and index-heavyweight stocks as investors braced for possible tapering in monetary stimulus by the US Federal Reserve this week. The Nikkei shed 250.20 points to end at 15,152.91, the lowest closing level since November 20. The Topix shed 1.3 percent to 1,222.95, with all of its 33 sub-sectors in negative territory. Investors unloaded their positions in futures and index-heavyweight stocks such as SoftBank Corp , which tumbled 3.2 percent and was the most traded stock by turnover. Currency-sensitive stocks also lost ground as the dollar stepped back from a five-year high against the yen. Toyota Motor Corp shed 1.9 percent and Honda Motor Co fell 2.8 percent.

Source: Reuters

After China Mobile sugar rush, Apple will fight for customers

Apple Inc's long-awaited iPhone agreement with China Mobile Ltd may deliver little more than a fleeting revenue jolt for the U.S. giant.

A deal with the world's largest mobile carrier, expected as early as this week, nets Apple 759 million potential new customers that could generate $3 billion (1.8 billion pounds) in 2014 revenue, or nearly one-quarter of Apple's projected revenue growth in its current fiscal year.
But after the initial haul, Apple will find itself in a familiar, expensive battle with its main smartphone rival, South Korea's Samsung Electronics Co Ltd, to win over customers, one wallet at a time.
And China Mobile will likely have to wait at least a year for its payout as it spends billions of dollars to build a 4G network so customers can make full use of their iPhones.
"The easiest way to grow iPhone sales was always distribution. This was the pot at the end of the rainbow and now that we're there, it's going to be an old-fashioned slog it out over customers," said Ben Thompson, a Taipei-based writer on the technology industry at stratechery.com.
China is Apple's second-largest market after the United States. Net sales in China for the fiscal year ended September 2013 rose 13 percent to $25.4 billion, accounting for about 15 percent of Apple's $170.9 billion in total net sales.
But its performance has been mixed. Where once there were lines around the block for the newest iPhone, now Apple faces intense competition from Samsung plus a host of local players such as Xiaomi making cheaper smartphones.
China Mobile, which says it already has 45 million iPhone users, could gain 17 million new activations and the deal should generate at least $3 billion in revenue for Apple in 2014, according to Forrester Research.
Analysts expect Apple's revenue to increase by $13.2 billion in its fiscal year ending.
Source: Reuters

Sunday, 15 December 2013

Indonesia Population 2013

Indonesia Population 2013


December, 6th 2013
It may surprise some people to learn that Indonesia is in fact the fourth largest country on earth (behind just China,India, and the U.S.). Far from being small, Indonesia is in fact a vast archipelago that comprises over 17,000 Islands, which go to form a land mass equating to 1,919,440 square kilometres (735,355 square miles). This means that Indonesia is the 19th largest country in terms of land mass and it has a high population density, too.
The last official census recording the population of Indonesia took place in 2010 and it showed that there were 237,424,363 people living on its 17,508 Islands. This equated to a population density of 123.76 people per square kilometer (323.05 per square mile). Around 58% of Indonesia’s population live on the Island of Java and the statistics involved here make it the most populous island in the whole world.
In recent years, the country has embarked on a program of family planning awareness but that has done little to slow down a considerable population growth which is expected to reach around 254 million by 2020 and a staggering 288 million by 2050. The population of Indonesia in 2013 is already estimated at 250,585,668 with no signs of slowing, and this represents a very sizable increase from the official 2010 figures.

Indonesia Demographics

Within Indonesia, the final figure of 237 million citizens in 2010 comprised of a diverse range of ethnic groups. The breakdown of ethnic groups in Indonesia is as follows:
  • Javanese: 41.71%
  • Sundanese: 15.41%
  • Matay: 3.45%
  • Madurese: 3.37%
  • Batak: 3.02%
  • Minankabau: 2.72%
  • Betawi: 2.51%
  • Bantenese: 2.05%
  • Banjarese: 1.74%
  • Balinese: 1.51%
  • Makassarese: 0.99%
  • Crebonede: 0.94%
In addition to this diverse population, Indonesia is also the world's most populous Muslim-majority country, as just over 86% of Indonesians declared Muslim on the 2000 census. 8.7% are Christian, 3% are Hindu, 1.8% are Buddhist or other.
As the 4th most populous country on earth, Indonesia's 2013 population is estimated at 250,585,668.
Source:  worldpopulationreview

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