Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌



Wednesday, July 10, 2013

Emerging-Market Stocks Rise Led by Egypt as Rand Climbs
~~By Maria Levitov, Julia Leite & Anuchit Nguyen
Jul 10, 2013: Emerging-market stocks advanced for the first time in three days as Egyptian and Hungarian shares surged. South Africa’s rand paced gains in currencies.

The MSCI Emerging Markets Index added 0.8 percent to 913.51 at 4:10 p.m. in New York. Egypt’s EGX 30 Index led gains among 94 world gauges tracked by Bloomberg as the interim president set a timeline for new elections. Mol Nyrt., Hungary’s largest refiner, drove the nation’s benchmark measure to a three-week high. The rand gained for a second consecutive day as an illegal strike at a South African platinum company ended, while South Korea’s won rose the most in five months.

Stocks rebounded from a two-day slump which took the benchmark of developing nations to the lowest level since June 26 amid concern about an economic slowdown and political turmoil. The United Arab Emirates, which took an hour to welcome the military-backed ouster of Islamists in Egypt, has pledged $3 billion in aid to the Arab world’s most populous nation. Investors also awaited the release of the U.S. Federal Reserve’s minutes tomorrow for signals on its stimulus plan.

“The major panic regarding the emerging-market asset class success story seems to be over for the time being,” Michael Ganske, head of emerging-markets at Rogge Global Partners Plc in London, said by e-mail. “I expect more volatility going forward, data flow and policy comment driven.”

Equities rose even after the International Monetary Fund said the world economic growth will struggle to accelerate this year as a U.S. expansion weakens, China’s economy levels off and Europe’s recession deepens. Global growth will be 3.1 percent this year, unchanged from the 2012 rate, and less than the 3.3 percent forecast in April, the IMF said today, trimming its prediction for this year a fifth consecutive time.
Emerging ETF

The iShares MSCI Emerging Markets Index exchange-traded fund rose 1.2 percent to $37.84. The Chicago Board Options Exchange Emerging Markets ETF Volatility Index, a measure of options prices on the fund and expectations of price swings, slipped 9.8 percent to 25.97.

All 10 groups in the MSCI Emerging Markets Index gained today as health-care and consumer discretionary shares had the biggest advances. The broad measure has slumped 13 percent this year, compared with a 9.8 percent jump in the MSCI World Index. The developing-nation gauge trades at 9.6 times projected earnings, lower than the MSCI World’s valuation of 13.5.

Developing markets are “absolutely oversold,” said Peter Kohli, chief executive officer of DMS Funds in Leesport, Pennsylvania. He spoke in an interview in New York. “Emerging markets should be viewed as long term investments” and they’ll do well, he said.
Brazilian Shares

Brazil’s stock market is closed today for a holiday in Sao Paulo. Mexico’s IPC index added 0.4 percent as Urbi Desarrollos Urbanos SAB, a Mexican real-estate developer, surged.

Russian equities fell as OAO Pharmstandard sank after the country’s biggest pharmaceutical company offered to buy out investors at a discount. The Budapest Stock Exchange Index rose a fourth day as Mol added 2.1 percent. Turkish shares gained, while benchmark gauges in Poland and the Czech Republic slid.

South Africa’s currency advanced 1.5 percent as Anglo American Platinum Ltd., the world’s biggest producer of the metal, said miners at two of its operations returned to work today. The won jumped on speculation South Korean exporters took advantage of a two-day decline in the currency to repatriate income from overseas.

Egypt’s stocks rebounded from the biggest drop in almost a month, while benchmark bonds fell for a second day and default risk jumped after fatal clashes in Cairo. Commercial International Bank Egypt SAE, the nation’s biggest publicly traded lender, led the gains, jumping 4.4 percent on volume of 1.2 times the three-month daily average.
Rupee Rebounds

Indian stocks advanced as the rupee rebounded after regulators took steps to curb speculation in the derivatives market. Sun Pharmaceutical Industries Ltd., the nation’s largest drugmaker by market value, rallied to a record. State Bank of India rose for the first time in three days, leading lenders higher. The rupee strengthened as much as 1.5 percent.

The Shanghai Composite Index rose after China Petroleum and Chemical Corp. jumped the most in 11 months and cement and utility companies rallied, overshadowing a report showing faster inflation.

The premium investors demand to own emerging-market debt over U.S. Treasuries was unchanged at 334 basis points, according to JPMorgan Chase & Co.

To contact the reporters on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net; Maria Levitov in London at mlevitov@bloomberg.net

To contact the editors responsible for this story: Brendan Walsh at bwalsh8@bloomberg.net; Gavin Serkin at gserkin@bloomberg.net.

Courtesy: Bloomberg.com