How humans take difficult decisions decoded

Heads or tails? Random fluctuations in the brain determine how we make decisions when faced with two equally appealing options, scientists say.

An emerging field of study known as neuroeconomics is combining the economists' insights with scientific study of the brain to learn more about decision-making processes and how they can go awry.

"Neuroeconomics is not only helpful for the development of better economic theory, it is also relevant from a clinical point of view," said ..


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JD(U) extends support to AAP, says Kejriwal should be Delhi CM

With uncertainty prevailing over who will form the next government in Delhi after a hung verdict, the Janata Dal (U) on Monday extended its unconditional support to Aam Aadmi Party (AAP) and said it wants its chief Arvind Kejriwal to be the new Chief Minister.

Reacting to the hung verdict in Delhi, JD (U) leader KC Tyagi said, "We will give unconditional support to Kejriwal as we want him to be the Chief Minister."

Meanwhile, Bihar Chief Minister Nitish Kumar too reacted on the outcome of polls in Delhi by saying, "The results have made it clear that the mandate is against the Congress."

Kumar further said that voters in Delhi have shown that when they have a third option other than Congress or BJP they will vote for it.

Kumar also rejected claims by BJP that there was a Modi wave in the country by saying, "If indeed there was some Modi wave then they should have got 2/3rd majority. They will be wiped out in a re-election."

"Ye sirf blower ki hawa hai, koi leher nahi hai, " added Nitish Kumar.

The support from JD (U) came as Kejriwal's party made it clear that it would sit in opposition and not join hands with either BJP or Congress.

With the BJP falling short of numbers to form government in Delhi, former IPS officer Kiran Bedi today said that both the parties should seek a common ground to govern.

Bedi, a close aide of socialist Anna Hazare, today cautioned BJP and AAP from rushing into re-elections, saying, "At least an effort should be made by BJP & AAP to find common ground."

Bedi maintained that, "The onus is on both parties (BJP & AAP) to find a common ground to govern, if they can’t they can go back to re-election."

The reaction from Bedi came as it became clear that AAP will not stake claim to form government and will play the role of a constructive opposition.

The party also said that it was the responsibility of the BJP, which is the single largest party, to form the government.






After a meeting of top party leaders at party chief Arvind Kejriwal's residence here, AAP leader Yogendra Yadav said, even if Lt Governor Najeeb Jung invites the party to form the government it will decline such an offer citing lack of majority.

"We are not going to form the government. We will sit in the opposition and play the role of a constructive opposition. As per the Constitution the largest party has to take the responsibility of forming government," Yadav said.

"We have not got majority so it is very surprising that the number one party (BJP) is not ready to form the government and telling us to do so," he said. Yadav also strongly ruled out taking support of Congress to form government. The BJP has also expressed its reluctance to stake claim, saying it did not have the numbers to provide a stable government.

BJP's Chief Ministerial candidate Harsh Vardhan had said last night that he will not stake claim to form a government as his party is short of a clear majority and would prefer to sit in the opposition than indulge in any "horse trading".

"...Since I don't have number I cannot stake my claim in forming my government in Delhi...Since I don't have the magic number of 36, I really cannot be a part of the government formation in Delhi," he had said.

Importantly, Congress president Sonia Gandhi today called for an urgent meet with top party leaders to introspect on the party's stunning defeat in four states results for which were declared yesterday.

During the meeting, the Congress top brass will ponder over the possible factors that led to the party's humiliation in Delhi, Rajasthan, Madhya Pradesh and Chhattisgarh Assembly elections.

Sonia Gandhi had on Sunday said that the results of assembly polls were very disappointing and asked her party leaders to study "the many reasons for this defeat".

BJP with 31 seats has emerged as the single largest party in a House of 70, needing six more for the magic number of 36. AAP bagged 28 seats followed by Congress(8). BJP ally Akali Dal got one seat.

Kejriwal emerged the giant killer defeating three-time Chief Minister Sheila Dikshit by a huge margin.

More: http://zeenews.india.com/news/nation/jdu-extends-support-to-aap-says-kejriwal-should-be-delhi-cm_895378.html

Not working with Rekha, says Amitabh Bachchan

Megastar Amitabh Bachchan has dismissed the reports that he will team up with Rekha for Yash Raj Films' (YRF) next untitled project, saying it's not true.

There were reports that the megastar is in talks to star opposite Rekha in a film that will be directed by Aditya Chopra.

"No, I am not doing that (film). But if you know anybody there (at YRF), then suggest my name," Big B told reporters at the launch of Just Dial search engine here.

"I also read it (that I will be working with Rekha in YRF's next) but there is no truth to it," he added.

Big B and Rekha were last seen together in Yash Chopra's directorial venture "Silsila". Made under YRF banner, the film, also starring Jaya Bachchan and Shashi Kapoor, came out in 1981. Since then, the two have not worked together.

Meanwhile, Anees Bazmee tried in vain to bring together the hit pair of the 1970s and 1980s on the screen again through "Welcome Back".

Rekha-Amitabh worked together in films like "Namak Haraam", "Do Anjaane", "Muqaddar Ka Sikander" and "Khoon Pasina".

Amitabh is currently busy shooting for "Bhootnath 2". Besides, he will be seen in a special appearance in Sanjay Dutt Productions' "Hasmukh Pighal Gaya".

More: http://www.dnaindia.com/entertainment/report-not-working-with-rekha-says-amitabh-bachchan-1932120

Gold futures prices down on weak global cues

Gold futures prices moved down by 0.30 per cent to Rs 28,868 per 10 gm in futures trade today after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in February declined by Rs 86, or 0.30 per cent, to Rs 28,868 per 10 gm in business turnover of 474 lots.

Likewise, the metal for delivery in April shed Rs 76, or 0.27 per cent, to Rs 28,397 per 10 gm in 15 lots.

Market analysts said a weak trend in the overseas markets as investors assessed the probability of a reduction in monetary stimulus this month after the US added more workers than forecast in November, mainly put pressure on gold prices at futures trade.

Globally, gold fell 0.20 per cent to USD 1,228.30 an ounce in Singapore today.

More: http://www.indianexpress.com/news/gold-futures-prices-down-on-weak-global-cues/1205322/

Mukesh Ambani hints at venture between Reliance Industries and Bharti Airtel

Reliance Industries (RIL) chairman Mukesh Ambani on Monday announced the possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure in the country.

Speaking at the Progressive Punjab Summit in Mohali, Ambani announced an investment of Rs 2,500 crore for setting up digital infrastructure for the 4G network. Ambani also announced that Reliance Foundation will partner with Punjab in promoting sports, specially basketball in schools.

Bharti Airtel chairman Sunil Bharti Mittal, also announced an investment of Rs 4,000 crore to set up digital infrastructure in Punjab.

During the summit, Arcelor Mittal chairman Lakshmi Mittal announced that his company will expand Bathinda refinery project by at least 25 per cent with additional investment of Rs 20,000 crore.

While ITC chairman Y C Deweshwar declared that the company will set up its "showcase" food processing industry either in Ludhiana or Jalandhar, Bicon chief Kiran Majumdar Shaw said her company is taking Punjab "very seriously" for investment.

The summit kicked off with many important announcements expected to be made during the course of the two-day event. More than 20 memoranda of understanding are scheduled to be signed between the government and top industrial houses promising investment worth Rs 25,000 crore.

This includes a Rs 900-crore investment by Medanta in a 25-acre Medicity in Mohali. This will be their second venture in the country. Max Healthcare and Fortis Healthcare Ltd will also set up hospitals in Medicity. Ranbaxy is also expected to announce the launch of another pharmaceutical unit in Punjab.

More: http://www.indianexpress.com/news/mukesh-ambani-hints-at-venture-between-reliance-industries-and-bharti-airtel/1205304/

US Defence Secretary Hagel to meet Sharif

US Defence Secretary Chuck Hagel landed in Pakistan on Monday amid differences between Washington and Islamabad over drone attacks and misgivings over cooperation against militants and reconciliation in Afghanistan, officials said.

A Foreign Ministry official said Mr. Hagel would meet Prime Minister Nawaz Sharif and several senior officials.

Bilateral relations came under renewed stress after Taliban leader Hakimullah Mehsud was killed in a US drone attack in November. Pakistan alleged that he was targeted to sabotage peace talk with the militants.

An official from the Prime Minister’s Office said that Mr. Sharif wanted to improve ties by offering cooperation in Afghanistan, and that he wanted US assurances on an end to drone strikes.

More: http://www.thehindu.com/news/international/south-asia/us-defence-secretary-hagel-to-meet-sharif/article5439642.ece

Ukrainian Crowds Pressure Yanukovych as Lenin Statue Falls

Hundreds of thousands of Ukrainians protested in the streets of the capital as the opposition maintained pressure on President Viktor Yanukovych after he backed off from a European integration accord.

Speculation Yanukovych is preparing to bring Ukraine into a Russian-led economic bloc helped fire up crowds yesterday that rivaled demonstrations the previous weekend, when as many as 500,000 people protested against clashes with baton-wielding riot police. Police detained some activists, the opposition Udar party said, after a group of youths demanding a new government tore down a statue of Vladimir Lenin in central Kiev.

People at a tent camp at the hub of the 2004 Orange Revolution endured snow and freezing temperatures today as Russia and the 28-member European Union offer diverging paths to Ukraine, the second-most populous former Soviet Republic and a key east-west energy transit route. Yanukovych, whose government is searching for $10 billion to avoid possible default, last week met Russian President Vladimir Putin, who opposed the EU deal.

“When protesters put a bigger crowd in the street, they force the regime to make tough decisions,” Stephen Sestanovich, a senior fellow at the Council on Foreign Relations in Washington and professor at Columbia University, said yesterday by phone. “But I haven’t seen any indication Yanukovych wants to make major concessions to the crowd on the street.”

With their opposition running into a third week, protesters have blockaded Independence Square with scrap wood, metal and barbed wire. They are also picketing official buildings to demand snap elections and the punishment of security officials after 400 people were injured in clashes when police broke up demonstrations on Nov. 30 and Dec. 1.
New Camps

Opposition leaders told the crowds they’d met their goal of 1 million people and urged groups of 30,000 to set up camps near buildings including the presidential administration, which was surrounded by policed in riot gear.

The protests are the largest since the Orange Revolution in which pro-Western opposition forces came to power after a presidential victory by Yanukovych was overturned. Yesterday’s turnout was more than 100,000, according to the Interior Ministry. Ukraynski Novyny said about 600,000 people were on the capital’s streets.

As the demonstrations escalate, First Deputy Premier Serhiy Arbuzov voiced concern over Ukraine’s economy, which is stuck in a third recession since 2008 after the global economic crisis triggered a drop in the price of steel, a vital export.
Default Risk

Foreign reserves have plunged more than $6 billion in the last year and stood at $18.79 billion on Nov. 30, the lowest level since 2006. The government has repeatedly rejected International Monetary Fund bailout terms.

Ukraine needs at least $10 billion in loans to improve its balance of payments and avoid the risk of a default, the Interfax news service cited Arbuzov as saying Dec. 7. That underscores years of economic and political mismanagement in Ukraine that trumps the EU-Russia debate, said Lilit Gevorgyan, a political analyst at IHS Global Insight.

“The country’s current troubles are not a result of pro-or anti-EU policy choices,” she said. Instead, they are due to “years of economic mismanagement, populist economic policies both by current and previous governments, and failure to deal with underlying issues like monopolistic economic structures, corruption, and a politically dependent judiciary.”

Yanukovych, who last month rejected EU association and free-trade pacts in favor of bolstering trade ties with Russia, visited Beijing and Russia’s Black Sea resort of Sochi last week in search for financial aid and cheaper energy prices.

‘Selling’ Ukraine Putin’s spokesman, Dmitry Peskov, said Russia and Ukraine were now “significantly” closer in negotiating positions over natural gas after the meeting. Russia has said it would offer Ukraine cheaper natural gas if the country of 45 million people signs up to a Customs Union with Kazakhstan and Belarus that Putin is planning.

While Putin and Yanukovych denied that they’d discussed membership of the Customs Union, opposition leader Arseniy Yatsenyuk said Yanukovych plans to sign up at a Dec. 17 meeting in Moscow, accusing him of “selling” Ukraine.

European Commission President Jose Barroso spoke to Yanukovych by phone to urge restraint and a political solution to the situation, his office said yesterday. The EU’s foreign policy chief, Catherine Ashton, will visit Kiev in the coming days to try to help defuse the crisis, according to a statement.

“Even more obvious that Ukraine needs a round table agreement to get out of its crisis,” Swedish Foreign Minister Carl Bildt posted on his Twitter account, saying that going without one would create a “risk of violence and repression.”

The opposition has “credible” information that Yanukovych plans to impose a state of emergency as part of a deal to get economic and political support from Russia, Yatsenyuk said yesterday.

“We ask our European and western partners not to allow this president to crack down on democracy,” he said.

Premier Mykola Azarov’s cabinet survived a no-confidence vote last week. It says demonstrators started the trouble with police. Ukraine’s security service said yesterday in a statement it had opened a criminal investigation into “certain politicians” who sought to “seize power.”

As demonstrators marched from the square, they stuck stickers calling for peaceful protests on buses used by police to barricade side-streets. Some began pitching tents outside the government’s headquarters.
War Veterans

Sergei Pronin, a 50-year-old veteran of the Soviet Union’s 10-year war in Afghanistan, said he’d joined other former soldiers to serve as a barrier between demonstrators and police after the recent violence.

After the EU criticized Putin for pressuring Yanukovych, Russian Prime Minister Dmitry Medvedev on Dec. 6 accused German Foreign Minister Guido Westerwelle of “interference in internal affairs.” Westerwelle met world heavyweight boxing champion Vitali Klitschko, the other main Ukrainian opposition leader, and accompanied him to Independence Square on Dec. 4. Klitschko will attend a meeting of the European People’s Party in mid-December and make a public appearance with Chancellor Angela Merkel, Der Spiegel reported.

As balloons in the blue and yellow colors of Ukraine’s flag floated over Independence Square, people danced to songs. Yury Muzychuk, 55, head of a management-consulting company in the western city of Lviv, said the protesters won’t give up.

“We can’t become cattle stuck in a depressed mood and ruled for decades by the Yanukovych dynasty,” he said. “For us the main thing isn’t joining the EU, it’s about adopting normal democratic standards.”

More: http://www.businessweek.com/news/2013-12-08/ukrainian-opposition-floods-kiev-to-keep-pressure-on-yanukovych#p2

Nelson Mandela: Dozens of world leaders to descend on South Africa

ozens of foreign heads of state or government have said so far they will attend either the memorial ceremony or the state funeral of Nelson Mandelain South Africa in the coming week, a foreign ministry spokesman said.

President Michael D Higgins also confirmed he will travel to South Africa to remember Nelson Mandela.

World leaders will attend Tuesday's memorial in Johannesburg or the funeral in Qunu next Sunday.

With hymns and eulogies, South Africans of all colors and creeds remembered Mr Mandela in a day of prayers on Sunday, holding him up as a symbol of freedom, forgiveness and hope for the nation and the world.

At churches, mosques, synagogues and community halls from the Limpopo River to the Cape, millions offered praise and reflected on a man celebrated as "Father of the Nation" and as a global beacon of integrity, rectitude and reconciliation.

Mandela, South Africa's first black president who steered his nation out of apartheid and into multi-racial democracy, died on Thursday at the age of 95 after months of illness.

Since then, the country has been gripped by an outpouring of emotion unrivalled since Mandela's release from 27 years of prison in 1990 and his subsequent election victory. Crowds have piled flowers, candles, balloons and messages outside his Johannesburg home.

At the cavernous Regina Mundi church in Soweto, South Africa's largest Catholic Church, hundreds of mourners, young and old, gathered to pray for Mandela and the nation's future.

"People are praying that there will be change, that we will come together," said Gladys Simelane, an office manager.

Mandela's former wife Winnie Madikizela-Mandela, dressed in black, attended a Methodist service in the northern Johannesburg suburb of Bryanston, where President Jacob Zuma hailed the values of the country's most beloved statesman.

"He believed in forgiveness and he forgave even those who kept him in jail for 27 years," Zuma said in a eulogy.

"He stood for freedom. He fought against those who oppressed others. He wanted everyone to be free."

The day of prayers opens an official program of mourning that includes a memorial service in a Johannesburg stadium on Tuesday and a state funeral next Sunday at Mandela's Eastern Cape ancestral home of Qunu - expected to be one of the biggest gatherings of world leaders in recent history.

More: http://www.independent.ie/incoming/nelson-mandela-dozens-of-world-leaders-to-descend-on-south-africa-29821639.html

Janlokpal Bill issue: Anna Hazare to sit on fast from Tuesday

Anna Hazare today accused the Centre of "betrayal" and going back on its promise on Janlokpal Bill and said he will sit on an indefinite hunger strike here from tomorrow for passage of the anti-graft law in Parliament.

Hazare said one of the major reasons for the drubbing the Congress got in the just-concluded elections to four states was its failure to get the Janlokpal Bill passed.

"Congress betrayed the people who responded appropriately," he told reporters here.

Hazare said when Prime Minister Manmohan Singh can pledge to get the communal violence bill passed in Parliament, why can't he do the same for the much-delayed anti-graft law.

Recalling his earlier hunger fast in Delhi, Hazare said, "Sonia Gandhi wrote a letter saying that Government is ready to bring Janlokpal Bill and said please end your fast. I trusted her and I ended my fast."

"I didn't know that this UPA government will betray the public and me," he said.

More: http://www.dnaindia.com/india/report-janlokpal-bill-issue-anna-hazare-to-sit-on-fast-from-tuesday-1932062

Thai election likely to be on February 2: Election official

Thailand will probably hold a general election on Feb. 2, 2014, an Election Commission official said on Monday, after Prime Minister Yingluck Shinawatra dissolved parliament following a wave of anti-government protests in Bangkok.

"It is very likely that the election will take place on February 2, within the 60-day limit," Sodri Sattayatham told Reuters.

More than 150,000 protesters marched through Bangkok on Monday, pressing ahead with mass demonstrations seeking to oust Yingluck and install an unelected body to run the country.

More: http://www.dnaindia.com/world/report-thai-election-likely-to-be-on-february-2-election-official-1932150

Market breadth turns negative from positive

The market breadth, indicating the overall health of the market, turned negative from positive in afternoon trade even as two key benchmark indices viz. the barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, held firm. The Sensex was up 350.47 points or 1.67%, off 136.74 points from the day's high and up 64.36 points from the day's low. Indian stocks edged higher today, 9 December 2013, after a strong performance of Bharatiya Janata Party (BJP) in assembly elections. The market sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on Friday, 6 December 2013. Gains in Asian stocks also boosted sentiment on the domestic bourses. In the foreign exchange market, the rupee edged higher against the dollar.

Asian stocks rose on Monday, 9 December 2013, after better-than-forecast growth in US jobs and Chinese exports boosted investor confidence cuts to Federal Reserve stimulus won't derail the global economic recovery.

Shares of power generation and power distribution companies extended recent gains on strong demand from investors for the follow-on public offer of state-run Power Grid Corporation of India (PGCIL) last week. Jindal Steel & Power dropped in volatile trade on profit booking. Shares of engineering and construction major L&T hit 52-week high.

The market surged in early trade after strong performance of Bharatiya Janata Party (BJP) in assembly elections. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit record high. A bout of volatility was witnessed as key benchmark indices regained strength after trimming initial strong gains in morning trade. Volatility continued on the bourses as key benchmark indices trimmed gains and hit fresh intraday low in mid-morning trade. The market was range bound in early afternoon trade. Firmness continued on the bourses in afternoon trade.

BJP has secured emphatic victory in assembly elections in Madhya Pradesh and Rajasthan, a narrower one in Chhattisgarh and emerged as the single largest party in a hung Delhi assembly, giving the party and its leader Narendra Modi confidence and momentum going into next year's general elections. Aam Aadmi Party, which confounded skeptics to win 28 seats in the 70-member Delhi assembly, denied BJP, which won 31 seats, an outright victory. Congress's debacle has also fortified the perception of Narendra Modi-led BJP being the frontrunner for 2014 Lok Sabha elections. Counting of votes for assembly elections in Rajasthan, Delhi, Madhya Pradesh and Chattisgarh took place on Sunday, 8 December 2013.

The investor community is betting that BJP's win in Lok Sabha elections next year under the leadership of pro development leader, Narendra Modi would help solve India's intrinsic problems, boost investments and propel economic growth which has seen a consistent slide under the UPA government in last one decade.

Meanwhile, the counting of elections for the 40-member Mizoram Assembly which is underway today, 9 December 2013, showed that the Congress has won 12 seats and is leading in 10 seats. Data from 13 seats is yet to be reported.

The market sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on Friday, 6 December 2013. Foreign institutional investors (FIIs) bought shares worth a net Rs 863.77 crore on Friday, 6 December 2013, as per provisional data from the stock exchanges.

At 13:18 IST, the S&P BSE Sensex was up 350.47 points or 1.67% to 21,347. The index jumped 487.21 points at the day's high of 21,483.74 in early trade, which is a record high. The index rose 286.11 points at the day's low of 21,282.64 in mid-morning trade.

The CNX Nifty was up 107.65 points or 1.72% to 6,367.55. The index hit a high of 6,415.25 in intraday trade, which is a record high. The index hit a low of 6,345 in intraday trade.

The market breadth, indicating the overall health of the market, turned negative from positive in afternoon trade. On BSE, 1,169 shares declined and 1,148 shares rose. A total of 163 shares were unchanged.

The total turnover on BSE amounted to Rs 1369 crore by 13:20 IST.

From the 30-share Sensex pack, 25 stocks rose and only five fell. Cipla (down 0.86%), Tata Steel (down 0.3%) and Tata Motors (down 0.26%) edged lower from the Sensex pack.

Jindal Steel & Power dropped 5.25% to Rs 268.65 in volatile trade. The stock hit a high of Rs 289.90 and low of Rs 266.65 so far during the day. The stock fell on profit booking after gaining 15.26% in the preceding 11 trading sessions to Rs 283.55 on 6 December 2013, from a recent low of Rs 246 on 21 November 2013.

Capital goods pivotals rose. L&T advanced 4.87% to Rs 1,149.90 after hitting 52-week high of Rs 1,152 in intraday trade.

Shares of state-run power equipment major Bharat Heavy Electricals (Bhel) rose 0.38% at Rs 172. The stock was volatile. The scrip hit high of Rs 177.30 and low of Rs 170.50 so far during the day.

Shares of power generation and power distribution companies extended recent gains on strong demand from investors for the follow-on public offer of state-run Power Grid Corporation of India (PGCIL) last week. GVK Power & Infrastructure (up 2.56%), NTPC (up 3.49%), Reliance Infrastructure (up 1.14%), Adani Power (up 1.86%), and Reliance Power (up 0.63%) gained.

Power Grid Corporation of India (PGCIL) rose 1.11% to Rs 100, on strong response from investors to the company's follow-on public offer (FPO). The FPO which closed on Friday, 6 December 2013, was subscribed 6.74 times. The FPO received bids for a total 530.12 crore shares, compared with 78.70 crore shares on offer, as per NSE data.

After the successful divestment, the Government of India's holding in PGCIL will come down to 57.89% from the present level of 69.42%.

Tata Power Company gained 2.04%. The company after market hours on Friday, 6 December 2013, said that the coal handling plant at Coastal Gujarat Power (CGPL), Mundra had an occurrence of fire in the coal conveyor gallery on 14 November 2013. Coal feeding to the plant was impacted due to fire and the repair works that followed. Restoration of the impact of fire on conveyor was achieved on 20 November 2013, Tata Power said. The company has processed the insurance claim as per coverage, Tata Power said.

In the foreign exchange market, the rupee edged higher against the dollar after strong performance of Bharatiya Janata Party (BJP) in assembly elections. The partially convertible rupee was hovering at 61.115, compared with its close of 61.41/42 on Friday, 6 December 2013.

On macro front, the Reserve Bank of India (RBI) announces next Mid-Quarter Review of Monetary Policy for 2013-14 on 18 December 2013. The Third Quarter Review of Monetary Policy for 2013-14 is scheduled 28 January 2014.

Asian stocks rose on Monday, 9 December 2013, after better-than-forecast growth in US jobs and Chinese exports boosted investor confidence cuts to Federal Reserve stimulus won't derail the global economic recovery. Key benchmark indices in China, Taiwan, Indonesia, South Korea, Singapore, Japan and Hong Kong rose 0.05% to 2.29%. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year.

China today reported inflation slowed more than estimated last month, after data yesterday showed export growth helped swell the nation's trade surplus to $33.8 billion, the widest since January 2009. The consumer-price index rose 3 percent from a year earlier, the National Bureau of Statistics said today in Beijing.

China's trade surplus widened last month to the largest in more than four years as exports exceeded estimates. The surplus of $33.8 billion was the biggest since January 2009, data from the General Administration of Customs showed yesterday in Beijing. Outbound shipments rose 12.7% from a year earlier, while import gained 5.3%.

Japan's growth slowed more than an initial estimate in the third quarter while the country posted an unexpected deficit in its broadest trade gauge in October, underscoring headwinds to Prime Minister Shinzo Abe's efforts to cement a recovery. Gross domestic product expanded an annualized 1.1% from the previous quarter when it rose 3.6%, the Cabinet Office said today in Tokyo, lower than a preliminary reading of 1.9%. Japan's current account registered a 128 billion yen ($1.2 billion) shortfall, the first deficit since January, according to the finance ministry.

Trading in US index futures indicated that the Dow could advance 31 points at the opening bell on Monday, 9 December 2013. US stocks surged on Friday, 6 December 2013, after the latest data showed American employers added more jobs than forecast and the jobless rate dropped to the lowest since 2008. The 203,000 increase in payrolls in November followed a revised 200,000 advance in October, Labor Department figures showed. The US jobless rate fell to 7%, showing progress in the labor market that will help provide a spark for the US economy. Another report showed consumer confidence rose more than forecast in December to the highest level in five months, easing concern about household spending heading into the holiday-shopping season. The Thomson Reuters/University of Michigan preliminary December consumer sentiment index rose to 82.5, the strongest since July, from 75.1 in November.

Investors are keeping a close watch on economic data in the United States as the Federal Reserve monitors the pace of recovery to gauge when it will begin to reduce monetary stimulus for the US economy, which has been aimed at encouraging growth. The Federal Open Market Committee (FOMC) holds a two-day policy meeting on interest rates in the United States on 17-18 December 2013. The US central bank currently buys bonds worth $85 billion a month in a bid to hold interest rates low and encourage economic growth in the world's biggest economy. Minutes of the Fed's October meeting released on 20 November 2013 showed officials may reduce their $85 billion a month of bond buying if the economy improves as anticipated.

More: http://www.business-standard.com/article/news-cm/market-breadth-turns-negative-from-positive-113120900393_1.html

Parliamentary panel report on 2G tabled in Lok Sabha

The controversial report of the Joint Parliamentary Committee, which gave a clean chit to Prime Minister Manmohan Singh in the 2G spectrum scam saying he was "misled" by the then Telecom Minister A Raja, was today tabled in Lok Sabha amid pandemonium.

The report was tabled in the Lok Sabha by JPC Chairman P C Chacko after Speaker Meira Kumar disallowed any debate on the issue at the presentation stage during Zero Hour.

This prompted members of DMK, UPA's erstwhile partner, and Opposition members, including those from the BJP, Left, Trinamool Congress, BJD and Shiromani Akali Dal, to stand up in protest.

Yashwant Sinha, Harin Pathak (both BJP), Gurudas Dasgupta (CPI) and Kalyan Banerjee (Trinamool) shouted that the report was a "fraud" on the Constitution, while DMK members walked out of the House.

Senior BJP leader L K Advani also rose to say something to the Speaker but could not be heard in the din.

DMK members, including T R Baalu and former Telecom Minister A Raja, later returned to the House and trooped into the Well as one of their members tore some papers, forcing the Speaker to adjourn the proceedings till 2 PM.

More: http://www.ndtv.com/article/india/parliamentary-panel-report-on-2g-tabled-in-lok-sabha-456446

Singapore's Little India erupts in riot after Indian's death

Singapore, known for its well-maintained law and order, witnessed a rare instance of riot, when South Asians in hundreds erupted in anger, burning vehicles and hurling objects at policemen, over the death of an Indian national, who was killed in a bus accident.

The Singapore police arrested 27 South Asians over the riots and has said more will be held soon.

Saying that no Singaporean was involved in the violence, the Singapore Police Force Commissioner Ng Joo Hee said that the culprits won't be spared and added that such riots were "not the Singapore way".

He said that 10 policemen and four defence personnel were injured in the violence.

"The unwanted violence, rioting, destruction of property, fighting the police, is not the Singapore way," Ng said.

The riot broke out after a 33-year old Indian lost his life when a private bus being driven by a Singaporean ran him over.

In what some local media reports called as "the worst such unrest in more than 40 years in Singapore", over 400 men of South Asian origins, furious over the Indian's death, set vehicles to fire and smashed the windscreen of the bus.

Over 300 security men were sent to placate the situation.

News channels' footages showed chaotic scenes with police vehicles flipped over and several other vans including ambulances in flames.

According to Singapore's Civil Defence Force (CDF), an ambulance, three police cars and a motorbike were set ablaze.

Many online videos showed a frantic crowd demolishing the windscreen of the bus even as the victim remained trapped under the vehicle.

The CDF added that the rioters threw objects at those trying to remove the body.

Prime Minister Lee Hsien Loong warned that authorities would "spare no effort to identify the culprits and deal with them with the full force of the law."

"Whatever events may have sparked the rioting, there is no excuse for such violent, destructive, and criminal behavior," Lee wrote in a statement on his Facebook page early Monday. The violence sparked debate among Singaporeans on social media about issues of overcrowding and the increase of migrant workers hired for Singapore's construction sector and menial jobs.

The riot is likely to fuel concerns about discontent among low-paid foreign workers. Last year, Singapore saw its biggest outbreak of labour unrest in years when around 170 bus drivers from mainland China went on strike illegally.

Little India is an area popular among Indian, Bangladeshi, Pakistani, Sri Lankan and Nepali expatriates. It has scores of restaurants, grocery shops and a mall selling food and other items for people from those countries. On Sundays, the area is especially crowded with South Asian workers.

More: http://zeenews.india.com/news/world/singapore-s-little-india-erupts-in-riot-after-indian-s-death_895360.html

Congress to 'introspect' poll defeat, Sonia calls for meeting

Congress president Sonia Gandhi has called a meeting of senior party leaders in Delhi on Monday after the party's defeat in four assembly elections.

Congress president Sonia Gandhi and general secretary Rahul Gandhi wave to crowds at a rally at Ramlila Maidan. (PTI photo)

Sonia on Sunday had announced the party will name its prime ministerial candidate at an “opportune time”. The announcement was made under pressure mounting that the party name its prime ministerial candidate to take on BJP’s Narendra Modi.

“People need not worry as at an opportune time the name of the prime ministerial candidate will be announced,” Gandhi said.

Asked if her son and party vice-president Rahul Gandhi would be the party’s choice, she initially appeared reluctant to give an answer but said, “We will make a statement. The party has to decide. The party will."

Again on Sunday, a senior Congress leader called the Congress's defeat a "collective failure" and said Rahul cannot be blamed for it. "Congress is not a one-man show--it is a collective defeat and collective failure," said Union minister Jayanthi Natarajan.

"We will introspect on our losses, we will see where we have gone wrong and I am very sure as happened in 1998-99 when we won state elections and lost the Lok Sabha -- as happened in 2003 when BJP actually won the assembly polls and lost the Lok Sabha," she said.

Though the party had fought the 2004 general elections under her leadership, Sonia declined the post and instead named Manmohan Singh for the top post. In 2009, she had made it abundantly clear that Singh would continue to be the Prime Minister if the Congress-led UPA was voted back to power.

With the BJP having already named Modi as its candidate, pressure is mounting on the Congress to bring clarity on the leadership issue ahead of the next year’s Lok Sabha elections.

More: http://www.hindustantimes.com/specials/coverage/myindia-myvote/chunk-ht-ui-myindiamyvote-countdownto2014/congress-to-introspect-poll-defeat-sonia-calls-for-meeting/sp-article10-1160677.aspx

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