Aug. 31 – India and Bangladesh are expected to sign a deal next week that would see the two nations exchange some 162 enclaves – isolated pockets of territory completely surrounded by the other country – that have been isolated for more than 60 years.
According to official records, there are 111 Indian enclaves covering some 17,000 acres inside Bangladesh, while Bangladesh has 51 enclaves covering about 7,000 acres in India. A joint census conducted by the two nations last month estimates that there are some 51,000 people living within the 162 enclaves – 34,000 Indians living in Bangladeshi enclaves and 17,000 Bangladeshis living within Indian enclaves. Continue reading
Aug. 30 – The International Association of Athletics Federations (IAAF) World Championships in Daegu, South Korea, has been turning into one of the most dramatic track and field events in the history of the sport.
One day after Jamaican athlete and Olympic record holder Usain Bolt was disqualified from his signature race – the men’s 100 meter – due to a false start, the 24-year-old Cuban world record holder in the 110 meter hurdle Dayron Robles was deprived of the right to win his event because of physically interfering with China’s Liu Xiang. Continue reading
Aug. 29 – A study by the Emerging Markets Private Equity Association (EMPEA), which manages a global proprietary database of private equity activity across emerging markets, shows that private equity funds in global markets are mainly concentrated in two emerging powers: China and India.
According to the study, in the first half of 2011 private equity funds in emerging markets amounted to US$14 billion, with China and India contributing 68 percent of the total investment. China had US$5.8 billion and India US$3.8 billion. In emerging market equity transactions, China and India accounted for a combined 54 percent of total transactions with 136 deals in China and 142 in India. Continue reading
Aug. 26 – China is obviously not happy with the recent release of the Pentagon’s annual report on China’s military and security developments, which welcomed the Chinese military’s rise, but also presented concerns over the increasing risk of “misunderstanding and miscalculation” along with the country’s expanding military capabilities. The country’s state-run Xinhua News Agency published a fiery commentary on Thursday accusing the United States of exaggerating China’s military threat, calling the Pentagon report one that “makes much ado about nothing despite some positive signs.”
The report by the U.S. Department of Defense laid most of its focus on China’s force modernization and regional strategies. It acknowledges the Chinese military’s rapid technological progress and capability growth since the 1990s, and believes the People’s Liberation Army (PLA) is “on track to achieve its goal of building a modern, regionally-focused military by 2020.” Continue reading
Aug. 26 – Industrial & Commercial Bank of China (ICBC), China’s largest lender in terms of asset size, plans to continue expanding its overseas business and aims to more than double its ratio between overseas operating income and gross profits over the next five years, ICBC’s chairman Jiang Jianqing said while giving a report on Thursday.
ICBC is expecting to draw 10 percent of its assets and profits from overseas operations by 2016, up from 4.51 percent in terms of overseas assets and 3.8 percent in profits at present, Jiang said. Continue reading
Aug. 25 – Right after Qaddafi’s army was driven out of Tripoli, China received a warning from Abdeljalil Mayouf, a manager of the rebel-controlled Arabian Gulf Oil Company, that China, Russia and Brazil, in contrast to many Western nations, could face political obstacles in returning to business as usual once Qaddafi had been removed from power.
China, Russia and Brazil, as well as India and South Africa, did not support NATO airstrikes aimed at defeating Qaddafi or providing military aid to the rebels.
After the fall of Qaddafi’s compound in the capital Tripoli, the Chinese government must turn to the rebel National Transitional Council (NTC) to preserve its investments in Libya. Continue reading
Aug. 24 – China’s first privately offered wine equity fund, the Dinghong Fund, has recently received approval from the Department of Investment Fund Supervision, according to reports. The fund plans to raise RMB1 billion (US$156 million), and is expected to start by the end of September with a first tranche of RMB200 million.
The closed-end fund, which registered in Beijing, will invest in two main wine producing areas in France, Bordeaux and Burgundy, and 60 percent of the fund will be in actuals while 40 percent will be in futures. Continue reading