Indian banks’ share prices are being hammered
Oct 10th 2019MUMBAITHE RUN on the Punjab and Maharashtra Co-operative Bank (PMC), a small Indian lender, is now in its third week. At a branch in Mumbai near the Reserve Bank of India (RBI), the central bank, depositors wait in line, scanning their mobile phones. But the calm is deceptive. A single bankrupt borrower, Housing…
America’s slowing economy could become an election issue
Oct 10th 2019WASHINGTON, DCFINANCIAL MARKETS have seen several episodes of panic since early 2018, often triggered by developments in President Donald Trump’s trade war with China. And in recent months, indicators of economic activity in America have begun to lose momentum. The worst figures are in manufacturing. Growth in the sector almost halted over the…
Indonesia’s president delays a law banning extramarital sex
Millions could have been ensnared by a draconian penal codeSep 20th 2019IT WAS A staggering reversal. On September 20th President Joko Widodo, popularly known as Jokowi, abruptly asked Indonesia’s parliament to delay a vote on a new criminal code that has provoked a storm of criticism both at home and abroad. Among other things the…
The disease killing Asia’s pigs continues to spread
Sep 19th 2019SEOULTHE BORDER guards were to attempt to catch the infiltrators alive but, if that failed, to shoot to kill. But somehow, a few stealthy interlopers seem to have managed to sneak past the hundreds of thousands of soldiers defending South Korea from its hostile neighbour to the north. The South Korean authorities were…
Australian universities are accused of trading free speech for cash
Sep 19th 2019SYDNEYSEEK “HARMONY but not sameness”, advised the Chinese philosopher Confucius 2,500 years ago. Neither quality was on display when Chinese nationalists violently disrupted a rally at the University of Queensland in July in support of anti-government demonstrators in Hong Kong. Since then Drew Pavlou, one of the organisers of the sympathy rally, says…
Why Japan is learning to love rugby
The sport has an opportunity to win new fans as the World Cup begins far from its traditional heartlandsSep 19th 2019THE DUBLINERS, a pub in central Tokyo, is primed for an onslaught of beer-swigging rugby fans. Kegs are stacked behind the counter and flags hang from the ceiling. Foreigners, mostly from Britain, Australia and Ireland,…
A strike on Saudi Arabia moves a shadowy conflict closer to open war
Sep 19th 2019THE MISSILES streaked down and turned the night sky orange. In the early hours of September 14th a barrage of fast-moving weapons hit Abqaiq, a town in the eastern Saudi desert that is home to the world’s largest oil-processing facility. They punched holes in the spheroids that process crude oil and smashed five…
Tunisia’s presidential race becomes a contest of outsiders
Expect a run-off between two men known as the Godfather and the TerminatorSep 16th 2019THE SECOND round of Tunisia’s presidential election looks to be a choice between a jailed businessman facing charges of tax-dodging and a man few voters had heard of before this year. On Sunday Tunisians went to the polls to choose from…
The attack on Saudi oil facilities raises the risks of war
America and Saudi Arabia may feel compelled to retaliate against IranSep 16th 2019PRESIDENT DONALD TRUMP says America’s forces are “locked and loaded” to strike at those responsible for the devastating drone and missile attacks on Saudi Arabia’s industry on September 14th. Is he about to pull the trigger for another American war in the Middle…
A sad, tawdry end for Robert Mugabe
A tyrant goes out with a whimperSep 15th 2019HARAREROBERT MUGABE inspired many feelings among Zimbabweans. First there was devotion, as he led the country to independence in 1980. Later came anger, as his economic policies turned Africa’s bread-basket into a basket-case. His toppling in a coup in 2017 produced catharsis, as Zimbabweans, even those who…