Brazil
Rio de Janeiro has been relatively calm since the beginning of a city-wide police strike on 10 February. In contrast to the strike in Salvador a week previously, authorities are intent upon cracking-down on striking police officers, insisting they are breaking their covenant with the public. Despite the current calm, however, the potential for an increase in low-level crime and looting remains.
China
China reported slowdowns in both imports and exports for January 2012, resulting in a trade surplus of US$27.3 billion, a six-month high. Imports dropped by 15.3 per cent while exports dropped 0.5 per cent. Continuing economic crises in the US and the EU, China’s largest export markets, will be a major challenge to continued Chinese economic growth in 2012.
DRC
President Joseph Kabila’s top presidential aide, Augustin Katumba Mwanke, died in a plane crash in Bukavu on 12 February. ‘AKM’ was extremely influential in Congolese business politics, particularly in mining deals. His death will provoke an internal power struggle, compounded by the current delay over the formation of a new government. Mining firms should expect increased confusion over decision-making processes in the coming months.
Greece
Parliament approved further austerity measures in a vote on 12 February in a bid to secure a further tranche of financing before a bond redemption on 20 March. The vote will see minimum wage floor lowered by 22 per cent, the cutting of 15,000 public sector jobs and a further trimming of the government’s spending budget. Despite wider cuts, Greece’s ability to control its debts as the economy stalls remains under question.
Iraq
The Iraqi government banned ExxonMobil from participating in the country’s fourth oil and gas bidding round scheduled for May. The move is in return for contracts signed between the oil major and the Kurdish Regional Government in October which the government regards as illegal.
Tibet
A Tibetan nun was confirmed dead in Sichuan province, south-western China, after setting herself on fire on 11 February. One of over 20 reported self-immolations over the past year, this latest casualty comes amidst growing unrest in the region. Violence and protests may worsen leading up to the Tibetan new year on 22 February.
Turkmenistan
Incumbent candidate Gurbanguly Berdymukhammedov reportedly won a landslide victory in the 12 February presidential election, with most votes counted. Berdymukhammedov’s victory comes as no surprise in a country with little legitimate opposition to the regime and he is unlikely to face any significant challenge to his rule in the medium term.
Zimbabwe
The first draft of Zimbabwe’s new constitution was rejected by the ruling ZANU-PF party as it barred any future electoral candidate who had already held power for 10 years. As Mugabe continues to push for 2012 elections, regardless of reforms stipulated in the 2008 political agreement, Zimbabwe is set for a tumultuous year.
Incumbent candidate Gurbanguly Berdymukhammedov reportedly won a landslide victory in the 12 February presidential election, with most votes counted. Berdymukhammedov’s victory comes as no surprise in a country with little legitimate opposition to the regime and he is unlikely to face any significant challenge to his rule in the medium term.
Zimbabwe
The first draft of Zimbabwe’s new constitution was rejected by the ruling ZANU-PF party as it barred any future electoral candidate who had already held power for 10 years. As Mugabe continues to push for 2012 elections, regardless of reforms stipulated in the 2008 political agreement, Zimbabwe is set for a tumultuous year.
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Source: AKE
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