South Asia Investor Review

The booming Bombay stock market in 2007 and the benefits of globalization have seen India's billionaires list swell to 40 on the Forbes Billionaires List. The Indian billionaires combined wealth has more than doubled from $170 billion to $351 billion in 2007. While Bill Gates has slipped to number three spot from number one, the number 4, 5, 6 and 8 spots in the top 10 are now occupied by Lakshmi Mittal, Mukesh Ambani, Anil Ambani and KP Singh from India. The news of the newly-minted Indian billionaires is bringing sharper focus on the growing rich-poor gap in India. The Times of India reports Communist Party leader Sitaram Yechury claiming that on the one hand, 36 Indian billionaires constituted 25% of India’s GDP while on the other, 70% of Indians had to do with Rs 20 a day. "A farmer commits suicide every 30 minutes. The gap between the two Indias is widening," he said. The growing wealth gap is also a big concern in other BRIC countries such as China and Russia. Fully...

Pakistan's Aziz: "I Have No Doubt." Robyn Meredith 02.11.08 Forbes Asia Musharraf's premier left quietly amid the tumult. Here he says his economic reforms, and nation, will abide. Fresh from the trauma of opposition leader Benazir Bhutto's assassination, Pakistan is scheduled to hold parliamentary elections Feb. 18. Predictions of the outcome range from not good to worse. Some Asia experts worry that if unpopular President Pervez Musharraf were to engage in transparent vote-rigging efforts, riots would result. In the event of chaos, the army might take charge and remove Musharraf from power. The politics are complex on the surface and even more complex behind the scenes. If elections go off on schedule, look for a divided parliament, with a coalition government likely led by Bhutto's Pakistan People's Party, which would then name the prime minister. "I see a prolonged difficult future in a country that is quite messy," said South Asia expert Ric...