1
Asia rice glut to worsen (Sameer C Mohindru & Warangkana Chomchuen in The
Wall Street Journal) Asia is awash in rice, as
favorable weather and government support for farmers combine to produce a
bumper crop. The glut is driving down prices for big rice importers in Africa
and China. But consumers in some of the biggest rice-producing nations,
including Thailand and India, are paying higher prices as surplus supplies sit
in government warehouses. Asia's surplus will have little impact in the US,
which produces different varieties of rice.
When traveling by train from New Delhi to neighboring states, a
common sight in the countryside is rice piled high on wooden plinths, protected
only by plastic tarps. In Thailand, the government has considered using a
warehouse at the city's old airport to store rice because other storage
facilities are full.
Analysts see the glut getting worse. Thailand, a top exporter, is
trying to sell some of its own 17 million-ton surplus, the result of a subsidy
program in which the government bought rice from farmers at above-market
prices. India, the world's biggest exporter, is expecting near-record harvests
in a couple of months, as is Pakistan. Meanwhile, demand from large importers,
including the Philippines and Nigeria, is dropping.
Some traders and consumer groups have raised concerns that some
long-stored rice may not be safe because of high levels of methyl bromide,
which is used on crops in storage to prevent infestation by rice weevils and
other insects. Rice has a shelf life of at least three years, if kept away from
moisture, though even when dry it can be eaten by rats and insects if not
properly protected. Still, even if part of this year's crop is destroyed, it
would quickly be replenished by the next harvest, analysts said.
2
Setback for Vedanta in India (Biman Mukherji in The Wall Street Journal) London-listed Vedanta Resources’ plan to mine bauxite in
eastern India's Orissa state has hit another roadblock with a majority of
village councils in the area rejecting the proposal. India's Supreme Court in
April asked the village councils to decide within three months on whether to
allow the company to mine around the Niyamgiri mountain, which is sacred to the
members of the local Dongria Kondh tribe.
Eight of the 12 village councils in the area have rejected the
plan and the remaining are expected to give their opinion on Aug. 19, said an
official who works at an Orissa-government department that oversees state
welfare programs aimed at tribal communities. A Vedanta spokesman in India
didn't immediately comment. Company executives had in the past said that its
investment in Orissa had been made based on assurances from the government on
mining rights.
Getting land for mining and industrial projects is a major problem
as India doesn't have a clear policy on the compensation to be paid to
landowners and the steps to rehabilitate them, though amendments to
land-acquisition and mining rules have been proposed to simplify the process.
Steelmakers ArcelorMittal and Posco cited difficulties in getting land as a
reason for scrapping two multibillion-dollar projects this month.
3
America’s war on truth (Mahir Ali in Khaleej Times) The big bully in world politics has pretty
much had its way. A verdict in the military
trial of Bradley Manning has been convicted. The US army private has already
been in detention for more than three years during which he has endured
degrading treatment and cruelty tantamount to torture.
Were
the US in any meaningful sense the exemplary democracy it purports to be, it
would be devoting its energies to challenging the personnel and policies that
brought it to this sorry pass. Not surprisingly, it has chosen instead the path
of vindictive punishment for those who betray its dirty secrets. Is it in
surprise, then, that Edward Snowden prefers the inconvenience of temporary
facilities at Moscow’s Sheremetyevo airport to the idea of facing “justice” at
home?
The
big bully in international relations has pretty much had its way in Western and
allied nations since the Second World War. Its remit has expanded considerably
since the end of the Cold War. The extent to which Russia will hold out remains
an open question. Instead of pursuing the likes of Manning and Snowden, what
the US really needs to do is take a good, hard look at itself. It may then
begin to discern an image of a less-than-benign Uncle Sam. This guy is by no
means the only one who violates human rights, but he does it on an
unprecedented scale, at home and abroad.
In
the case of Bradley Manning, too, the attention on his personality conveniently
outweighs the wealth of information he helped to publicise. And there is evidence,
highlighted among others by The New York Times, that an indictment is being
prepared against WikiLeaks and Julian Assange, holed up for more than a year in
the Ecuadorian embassy in London. The only conclusion one can draw is that the
truth does not set you free, particularly where unpalatable facts are
concerned.
4 Record profit for Samsung (BBC) Samsung Electronics has
reported a record quarterly profit boosted by growing smartphone sales and a
surge in earnings at its display panel division. Net profit was 7.8 trillion won ($7bn) in the April to June quarter, a
50% jump from a year ago. It said the launch of new models such as the Galaxy
S4 helped boost sales of smartphones during the period. But it warned that the
pace of growth of smartphone business, a key driver of its recent success, may
slow down.
The success of its smartphone business has seen Samsung
displace Nokia as the world's biggest mobile phone maker. Its market share in
the sector has risen sharply. According to research firm Strategy Analytics,
Samsung accounts for almost 95% of the Android smartphone sector's profits.
Analysts say Samsung
needs to introduce new and innovative products if it is to maintain its market
share and keep charging a premium price. "The big question right now is
whether they have got that card up their sleeve," Bryan Ma of research
firm IDC told the BBC. "What is the killer product that they have in the
pipeline that is going to help sustain this growth," he added.
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