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☆ Can India's 5,000-Year-Old Disposable Clay Cups Compete With Plastic?
▼ + stars: | 2024-11-18 | by ( Emily Christian | ) www.businessinsider.com time to read: +1 min

A kulhad is a biodegradable, disposable clay cup used in India by food vendors to serve hot beverages like chai and some desserts like yogurt. The cups have been excavated from the Indus Valley as far back as the end of the Stone Age, 5,000 years ago. Lately, synthetic materials like plastic and paper have started replacing these clay cups, as they are cheaper and more convenient for vendors to acquire. But the clay cups still persist in India. We went inside a kulhad workshop outside Kolkata to see how the traditional clay cup business is still standing.

Locations: India, chai, Kolkata

☆ CNBC's Inside India newsletter: India's growing wealth divide
▼ + stars: | 2024-11-15 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +9 min

The rise in India's income and wealth inequality is not a result of the poor getting poorer, Sumedha Dasgupta, senior analyst at the Economist Intelligence Unit (EIU) flags. India's income gap (which is the difference in wages earned between different demographic) comes alongside a worsening wealth divide too. Instead, the phenomenon comes as the "rich are getting much richer at a faster rate," she told CNBC's Inside India. India's 3 household groupsA more pressing issue brought on by India's wealth and income divide is the emergence of different categories of households with distinct standards of living. Unequal education opportunitiesThe EIU's Dasgupta attributes India's vicious wealth and income gap cycle in large part to mismatched education opportunities.

Persons: Knight Frank, Dasgupta, CNBC's, Shumita Deveshwar, Deveshwar Organizations: Economist Intelligence Unit, Blume Ventures, Oxfam, Private, Department of School Education, Global Commons Alliance, TS Lombard Locations: India, United States, Brazil, South Africa, Venture, Saharan Africa, Indian

Amid the flurry of partnerships announced on the occasion was a deal between Reliance and Nvidia to build AI infrastructure in India. Nvidia on Thursday announced a slew of partnerships with major Indian firms and launched a Hindi language model, as the American chip company looks to ramp up business in one of the world's biggest technology markets. Nvidia also announced Nemotron-4-Mini-Hindi 4B — a small language model in Hindi, the widest-spoken of India's multitude of languages. Companies running Nvidia hardware can deploy this language model, while Indian IT consultancy Tech Mahindra is using Nvidia's model to launch its own Hindi AI model, Project Indus 2.0. "India is very, very dear to the world's computer industry, central to the IT industry," Huang said.

Persons: Huang, Jensen Huang, Akshay Kumar, Mukesh Ambani, Narendra Modi, Modi, Neil Shah, Shah Organizations: Reliance, Nvidia, Yotta, Tata Communications, Reliance Industries, Companies, Indian, Tech Mahindra, Infosys, Wipro, TCS, Reliance Jio, Ambani's Reliance Industries, Counterpoint Research, CNBC Locations: India, Mumbai, American

☆ Bronze Age-style ship recreates a 4,000-year-old journey
▼ + stars: | 2024-07-13 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Fast-forward to seventh century East Anglia in the United Kingdom, where an Anglo-Saxon warrior king was buried alongside exquisite goods within a massive ship. Researchers are hoping to reconstruct the ship — and it’s not the only vessel gaining new life centuries after disappearing from time. Emily Harris/Zayed National MuseumUsing a supply list written on a clay tablet, a team of experts in the United Arab Emirates has reconstructed a Bronze Age ship. Once upon a planetScientists excavated a 52,000-year-old woolly mammoth skin from the Siberian permafrost. Love Dalén/Stockholm UniversityThe freezing temperatures of the Siberian permafrost preserved a piece of 52,000-year-old woolly mammoth skin so well that it contains a first-of-its-kind genetic treasure trove.

Persons: it’s, Emily Harris, Shipwrights, Jacob, Alex Braczkowski, Griffith University Jacob, Tibu, Butch Wilmore, Suni Williams, James Webb, Ashley Strickland, Katie Hunt Organizations: CNN, East, Zayed National, United Arab Emirates, Zayed National Museum, Griffith University, Uganda’s Queen Elizabeth, International Space Station, NASA, Boeing, European Space Agency, James Webb Space, Penguin, —, CNN Space, Science Locations: Siberia, East Anglia, United Kingdom, Persian, Mesopotamia, Zayed, Abu Dhabi, Sweden, Denmark, Peru, Machu Picchu, Uganda’s, Stockholm, Western Australia

☆ Bronze Age-style ship sails the Persian Gulf 4,000 years after it was designed
▼ + stars: | 2024-07-12 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

CNN —Writings on an ancient clay tablet have allowed experts to reconstruct a Bronze Age ship made of reeds and sail it on a maiden voyage off the coast of Abu Dhabi, United Arab Emirates. It is the world’s largest reconstruction of a Bronze Age Magan boat, according to the team. The research project’s goals were to uncover ancient craftsmanship techniques, determine the connections between Bronze Age societies and better understand the role Abu Dhabi once played in Bronze Age trade. After passing five days of trials, the ship sailed toward Saadiyat Island off the coast of Abu Dhabi and the open sea on March 2 and 3. “Seeing the Magan Boat sail on the water for the first time actually took my breath away and brought tears to my eyes.”

Persons: Magan, “, ”, Eric Staples, Abu Dhabi, Emily Harris, Umm, Robert B, Jackson, ” Jackson, Peter Magee, Marwan Abdullah Al, Marzouqi, ” Marzouqi, Abdallah Alremaithi, Ayesha Almansoori, Tayla Clelland, Mohamed Khalifa Al Mubarak, ” Clelland Organizations: CNN, United, United Arab Emirates, Zayed University, Zayed National Museum, Zayed National Museum , New York University, British Museum, ., Department of Culture Locations: Abu Dhabi, United Arab, Persian, UAE, Oman, Mesopotamia, Iraq, Pakistan, India, Zayed National Museum ,, Zayed National Museum , New York University Abu Dhabi, Umm, South Asia, Girsu, what’s, Saadiyat, Tourism, “

☆ Pakistan: Temperatures cross 125°F as heat wave hits Sindh
▼ + stars: | 2024-05-28 | by ( ) edition.cnn.com time to read: +3 min

CNN —Temperatures rose above 52 degrees Celsius (125.6 degrees Fahrenheit) in Pakistan’s southern province of Sindh, the highest reading of the summer and close to the country’s record high amid an ongoing heat wave, the met office said on Monday. Extreme temperatures throughout Asia over the past month were made worse most likely as a result of human-driven climate change, a team of international scientists have said. The reading is the highest of the summer so far, and approached the town’s and country’s record highs of 53.5 C (128.3 F) and 54 C (129.2 F) respectively. But with the current heat wave, shops are seeing almost no footfall. The highest temperature recorded in Pakistan was in 2017 when temperatures rose to 54 C (129.2 F) in the city of Turbat, located in the Southwestern province of Balochistan.

Persons: Daro, Shahid Abbas, Rizwan Tabassum, ” Wajid Ali, ”, Abdul Khaliq, Khaliq, Mushtaq Ahmed, Khursheed Alam, Sardar Sarfaraz Organizations: CNN, Pakistan Meteorological Department, Reuters, Getty Locations: Pakistan’s, Sindh, Asia, Karachi, AFP, “, Pakistan, Turbat, Southwestern, Balochistan, Mohenjo Daro, Karachi — Pakistan’s

☆ Suicide Bomber Kills 5 Chinese Workers in Pakistan
▼ + stars: | 2024-03-26 | by ( Salman Masood | ) www.nytimes.com time to read: 1 min

At least five Chinese workers were killed on Tuesday when a suicide bomber rammed a vehicle into their convoy in northern Pakistan, officials said. Their Pakistani driver was also killed in the attack. The Chinese laborers were working on the Dasu dam, a hydropower project on the Indus River in the northwestern province of Khyber Pakhtunkhwa. The convoy was moving from Islamabad to Dasu and came under attack around 1 p.m., officials said. This was the second-deadliest attack on Chinese working on the project, after a previous suicide attack on a convoy in 2021.

Locations: Pakistan, Pakistani, Khyber Pakhtunkhwa, Islamabad, Dasu, China, Baluchistan, Gwadar

New Delhi CNN —When Indian prime minister Narendra Modi inaugurated the Group of 20 (G20) leaders’ summit on Saturday, he sat behind a country name placard that piqued the interest of many. “PM Modi uses placard Bharat for G20 inaugural address,” ran a headline in the Times of India, one of the country’s largest English-language outlets, moments after. Both India and Bharat are used officially in the nation of 1.4 billion people, which has more than 20 official languages. Bharat is also the Hindi word for India and is used interchangeably – both feature on Indian passports for example. But the use of “Bharat” on the G20 invites has raised eyebrows among opposition leaders.

Persons: Narendra Modi, Bharat, Modi, ”, “ Bharat, “, –, ’, ” Harnath Singh Yadav, Virender Sehwag, Bharat ”, ” Shashi Tharoor, Raghav Chadha, Jaishankar Organizations: New, New Delhi CNN, “, Bharat, Group, Bharatiya Janata Party, BJP, Cricket, Developmental, INDIA, Aam Aadmi Locations: New Delhi, ’, India, Times of India, Britain, British, Indian, INDIA

☆ India or Bharat? Invites fuel speculation that the country could change its name
▼ + stars: | 2023-09-07 | by ( Mithil Aggarwal | ) www.cnbc.com time to read: +3 min

"Better late than never," Akash Tiwari, a private security officer in New Delhi, told NBC News of the rumored change. The country's constitution references both names: India to be used for statements in English and Bharat to be used in Hindi. The name India was derived centuries ago in connection to the Indus Valley, which lies in the northwest part of the country. "The meaning is the same, be it Bharat, Hindustan or India," said Amit Gihar, a fashion photographer. India is a very old name," said Vijender Singh, 28, who's been driving rickshaws around the capital for three years.

Persons: Akash Tiwari, Bharat, Narendra Modi, Amit Gihar, Vijender Singh, who's, Critics Organizations: NBC, Bharatiya Janata Party, BJP, Constitution Locations: New Delhi, India, Hindustan

Both India and Bharat are used officially in the nation of 1.4 billion people, which has more than 20 official languages. “India, that is Bharat, shall be a Union of States,” the country’s constitution states. Bharat is also the Hindi word for India and is used interchangeably – both feature on Indian passports for example. “The word ‘India’ is an abuse given to us by the British, whereas the word ‘Bharat’ is a symbol of our culture,” Harnath Singh Yadav, a BJP politician, told Indian broadcaster ANI. Some opposition politicians said the government’s use of Bharat was a response to the formation of the INDIA alliance.

Persons: Bharat, ”, Droupadi Murmu, Narendra Modi, Modi, –, ’, ” Harnath Singh Yadav, Virender Sehwag, Bharat ’, Bharat ”, ” Shashi Tharoor, “, it’s, Raghav Chadha, Jaishankar Organizations: New, New Delhi CNN, Indian, of States, Bharatiya Janata Party, BJP, Cricket, Developmental, INDIA, Aam Aadmi Locations: New Delhi, India, Delhi, Britain, British, Kingsway, Nicobar, INDIA

[1/3] Police stand on a road outside 'Bharat Mandapam', the main venue of the G20 Summit, in New Delhi, India, September 3, 2023. By convention, invitations issued by Indian constitutional bodies have always mentioned the name India when the text is in English, and the name Bharat when the text is in Hindi. However, the invites -- in English -- for the G20 dinner called Murmu the President of Bharat. In English, the South Asian giant is called India, while in Indian languages it is also called Bharat, Bharata and Hindustan. While some supporters of the name Bharat say "India" was given by British colonisers, historians say the name predates colonial rule by centuries.

Persons: Bharat Mandapam, Altaf Hussain, Droupadi Murmu, Bharat, Narendra Modi’s, “ Bharat, Alexander the, Krishn Kaushik, William Maclean Organizations: REUTERS, Indian, Reuters, Bharatiya Janata Party, BJP, of States, Rashtriya Swayamsevak Sangh, Bharat, Thomson Locations: New Delhi, India, DELHI, Bharata, British, Greece

In climate negotiations, "loss and damage" refers to existing costs incurred from climate-fueled weather impacts, such last year's devastating Pakistan flooding. The U.S. is part of a 24-country committee deciding how the fund will work before the COP28 climate summit in Dubai can officially adopt it this year. Both voted to approve new funding arrangements under the condition that the fund not be about liability for rich countries and compensation. Instead, both Washington and Brussels say the fund should be filled from myriad sources including industry taxes, philanthropic donations or other schemes. The world’s least developed nations want the fund to be limited to the neediest nations.

Persons: Akhtar Soomro, that's, ”, Sue Biniaz, Biniaz, Christina Chan, “, “ That’s, Avinash Persaud, Mia Mottley, Persaud, Dileimy Orzoco, Valerie Volcovici, Katy Daigle, Josie Kao Organizations: REUTERS, Rights, . State Department, Reuters, The, State Department, EU, Nonprofit, Thomson Locations: Sehwan, Pakistan, U.S, Washington, The U.S, Dubai, Dominican Republic, Paris, Brussels, China, Barbados, Philippines

☆ Analysis-China's stubborn savers risk precipitating liquidity trap
▼ + stars: | 2023-08-04 | by ( Winni Zhou | Rae Wee | ) www.reuters.com time to read: +5 min

“Based on Japan’s experience in the 1990s, there is the risk that China is entering a liquidity trap due to the risks of balance-sheet recession,” said Natixis’s chief economist for Asia Pacific Alicia Garcia Herrero. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. Yet about 180 domestic A-share companies say in their stock filings that they have invested in CDs this year. China’s 220 million retail stock investors, equivalent to Brazil’s population and the biggest drivers of daily moves, have kept to the sidelines this year. “I wouldn’t pour money into the stock market any time before I see a clear rising trend,” he said.

Persons: Florence Lo, ”, Asia Pacific Alicia Garcia Herrero, “, Byron Gill, ‘, ” Gill, Betty Wang, Wu, ” Wu, John Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo’s Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai

Analysts see the same lack of confidence in today's Chinese households and companies that Japan grappled with in the 1990s. But in China's case there is a key difference; there is no deflationary threat yet, nor have banks switched off lending. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. China's policymakers have cut rates and encouraged banks to lend more in efforts to revive economic growth after the pandemic. China's 220 million retail stock investors, equivalent to Brazil's population and the biggest drivers of daily moves, have kept to the sidelines this year.

Persons: Florence Lo, Asia Pacific Alicia Garcia Herrero, Byron Gill, Gill, Betty Wang, Wu, John, Winni Zhou, Rae Wee, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo's, Thomson Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai, Singapore

☆ Hague court rejects India's objections over water treaty arbitration
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

AMSTERDAM/NEW DELHI, July 6 (Reuters) - The Permanent Court of Arbitration (PCA) in the Hague rejected on Thursday India's objections to a Pakistan-initiated procedure over water use in the Indus River basin, reopening a procedure that had been blocked for many years. India called the arbitration proceeding illegal as a neutral expert was also looking at the issue and the World Bank-brokered treaty prohibits parallel proceedings. India has boycotted The Hague court proceedings and questioned the competence of the court. A spokesperson for India's foreign ministry, Arindam Bagchi, said India's "consistent and principled position has been that the constitution of this so-called court of arbitration is in contravention of the clear letter and spirit of the Indus Water Treaty". Pakistan's Foreign Office said that it remained fully committed to the implementation of the Indus Water Treaty and its settlement mechanism, which it termed a "foundational agreement" between the two countries.

Persons: Hague, Arindam Bagchi, Bagchi, Mumtaz Zahra Baloch, Krishn Kaushik, Gibran Peshimam, Richard Chang, Kim Coghill Organizations: AMSTERDAM, World Bank, Ratle Hydro, GV De, Thomson Locations: DELHI, Pakistan, India, Hague, Pakistan's, Amsterdam, New Delhi, Karachi

[1/3] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. REUTERS/Akhtar SoomroKARACHI, July 3 (Reuters) - Pakistan's benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured a last-gasp funding deal from the International Monetary Fund (IMF). The KSE 100 index (.KSE) closed up 2,442.06 points at 43,894.7, marking its biggest percentage gain since June 24, 2008, when it rose 8.6%, as per Refinitiv data. "Today's gain in the benchmark KSE 100 Index will likely to be highest in the history of Pakistan Stock exchange," it said. Several automakers including Pakistan Suzuki Motor Co (PKSU.PSX) had announced prolonged plant closures in 2023, citing import restrictions.

Persons: Akhtar Soomro, Shehbaz Sharif, Muhammad Iqbal Jawaid, Arif Habib, HCAR, Asif Shahzad, Swati Bhat, Lincoln, David Holmes Organizations: Pakistan Stock Exchange, REUTERS, International Monetary Fund, IMF, Topline Securities, Pakistan Stock, Pakistan, U.S ., Pakistan Suzuki Motor, Honda, Pakistan Suzuki, Indus, Toyota, Auto, Arif, Arif Habib Ltd, Thomson Locations: Karachi, Pakistan, Akhtar Soomro KARACHI

LONDON/NEW YORK/HONG KONG (Reuters) -For hedge funds, the second half of 2023 is all about pouncing on the ways in which inflation, aggressive rate hikes and decarbonisation are shaping the economy. Five prominent funds shared their ideas using five different asset classes to trade on this uncertainty. The ideas do not represent recommendations or trading positions, which hedge funds cannot reveal for regulatory reasons. 1/ UBS O’CONNOR* Alternatives platform, with both hedge funds and credit* Size: $9.5 billion* Established in 2000* Key trade: Long so-called “busted” convertible bonds, or hybrid securities where the stock trades below its option conversion price. Seminara favored long positions in investment grade bonds and shorting high yield ones via the iTraxx Europe and iTraxx crossover indices.

Persons: Brendan McDermid, Casey Talbot, Alpha, ” Talbot, Byron Gill, Howard Smith, Anastasia Tarasova, Tarasova, Andrea Seminara, ”, Seminara, CRAWFORD, ERIC STURDZA, Eric Sturdza, Chris Crawford, Biden, “ They’re, Crawford Organizations: Reuters, Traders, New York Stock Exchange, REUTERS, UBS, UBS O’Connor, Companies, Indus Capital Partners, Capital, Federal, Redhedge, Asset Management, European Central Bank, ECB, Eric Sturdza Investments, Fund Management, Crawford Fund Management Locations: HONG KONG, New York City, U.S, Asia, Ukraine, Europe

The Hindu Kush Himalaya stretches 3,500 km (2,175 miles) across Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Nepal and Pakistan. At 1.5 degrees Celsius or 2C of warming above preindustrial temperatures, glaciers across the entire region will lose 30% to 50% of their volume by 2100, the report said. At 3C of warming — what the world is roughly on track for under current climate policies — glaciers in the Eastern Himalaya, which includes Nepal and Bhutan, will lose up to 75% of their ice. THE FULL PICTUREScientists have struggled to assess how climate change is affecting the Hindu Kush Himalaya. “We have a better sense of what the loss will be through to 2100 at different levels of global warming.”LIVELIHOODS AT RISKWith this newfound understanding comes grave concern for the people living in the Hindu Kush Himalaya.

Persons: Tika Gurung, “ We’re, we’re, ”, Philippus Wester, Wester, Tobias Bolch, “, “ We’ve, Amina Maharjan, Gloria Dickie, Frances Kerry Organizations: Integrated Mountain Development, United, “, Graz University of Technology, Thomson Locations: Langtang, Nepal, 1.5C, Asia’s, Kathmandu, Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Pakistan, North, Rocky, United States, it’s, Austria, Wester, ”, London

☆ Guest view: “1% for 1.5C” can power green finance
▼ + stars: | 2023-04-11 | by ( Mahmoud Mohieldin | ) www.reuters.com time to read: +6 min

Developing countries excluding China require approximately $2 trillion annually by 2030, as per the Finance for Climate Action report. But current arrangements to get climate finance from developed to developing states are inefficient, insufficient and unfair. The difference could be subsidized in part through the as-yet unpaid portion of the promised $100 billion climate finance pledge, estimated conservatively at $20 billion annually. And it helps minimize developing countries’ indebtedness, in comparison to the current practice. The scheme would also unlock concessional funds for adaptation and resilience projects, which relative to the mitigation of emissions remains the Cinderella of climate finance, attracting less than 10% of global climate finance.

☆ Pakistan's Honda Atlas shuts production to end-March on import difficulties
▼ + stars: | 2023-03-08 | by ( Ariba Shahid | ) www.reuters.com time to read: +2 min

KARACHI, Pakistan, March 8 (Reuters) - Honda Atlas Cars Pakistan Ltd has announced the longest plant shutdown to date in the current economic crisis amongst the country's automakers, which are struggling to obtain raw materials due to import difficulties. The company, a unit of Japanese car giant Honda Motor Co Ltd (7267.T), said its plant would shut from March 9, 2023, to March 31, 2023. Other listed-automakers, such as Indus Motor Company Limited (INDU) and Pak Suzuki Motor Company (PSMC), have also been forced to halt production during the past three quarters due to Pakistan's economic difficulties, which have seen central bank foreign exchange reserves drop to a level barely able to cover four weeks of imports. “Pakistan has limited dollars and until reserves improve to at least two months’ worth of import cover, import restrictions would likely continue.”Other manufacturing halts in the sector have been between two and 16 days. Reporting by Ariba Shahid in Karachi; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Hedge funds unimpressed by Chinese internet giants' peppy earnings
▼ + stars: | 2023-02-28 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, Feb 28 (Reuters) - A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn't impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. Despite easily beating expectations for their earnings and giving optimistic forecasts for the recovery in demand, shares in both companies fell. Mark Dong, co-founder of Minority Asset Management, who is based in Hong Kong, says expectations for Chinese growth are clouded by doubts over how Beijing plans to stimulate the economy and deal with external risks. The internet sector index (.H11137) nearly doubled between late-October and January but has since fallen 20%. Global hedge funds such as Bridgewater Associates, Tiger Asset Management and Coatue Management are big holders of China internet stocks, which makes the sector more vulnerable to the global economic cycle and geopolitical tensions.

The Competition Commission of India (CCI) ordered Google in October to make a series of changes, such as refraining from agreements that ensure exclusivity of its search services and mandatory pre-installation of its apps. It also told Google to allow third-party app stores to be housed within its Play Store. "There was negative impact over the years, we hope now consumers and device makers use our app more." About 97% of 600 million smartphone devices in India run on Android, according to Counterpoint Research estimates. Naval Chopra, a lawyer at India's Shardul Amarchand Mangaldas, which has challenged Google in courts in the past, said Thursday's court decision was a landmark one.

☆ Analysis: Japan's yen feels the heat from hard-line BOJ policy
▼ + stars: | 2023-01-18 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

Speculators have looked instead to the yen, an easier target where their bets on BOJ policy have induced massive swings and historic levels of volatility. BIGGER YEN BETSAnalysts expect bets on the BOJ soon abandoning its yield curve control policy will get bigger and louder, for a number of reasons. James Athey, an investment director at fund manager abrdn, has held a long position on the yen for a while. We had a significant overweight on the Japanese yen, (and) in the aftermath, we took profit on some of our yen position," Athey said. "The debate around the future of BOJ policy is far from settled," said Howard Smith, partner and portfolio manager at Indus Japan Strategies.

☆ ‘Demetrius’ Review: Aiming for Empire
▼ + stars: | 2023-01-17 | by ( Peter Thonemann | ) www.wsj.com time to read: 1 min

Nominations, please, for the title of Most Confusing Historical Period Ever. The third-century crisis of the Roman Empire? The Thirty Years’ War? The half-century after the death of Alexander the Great still beats all comers. But the intervening period was, frankly, a nightmare.

☆ India’s Vodafone stress test may have ugly results
▼ + stars: | 2023-01-06 | by ( Una Galani | ) www.reuters.com time to read: +4 min

Investors cheered, and many customers in its now-234 million-and shrinking subscriber base breathed a sigh of relief. Vodafone, meanwhile, is now calling on the banks for fresh loans, per the Economic Times. That may not have been sufficient, but there was no disclosure by the company stating that the swap was conditional on the existing owners’ financial commitment. India’s politicians are careful to avoid situations where they might be accused of being too generous to foreign multinationals. With so much stress, though, other creditors might find a reason to pull the rug from under the company’s feet sooner.

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