More than 100 countries have now agreed to the Copenhagen accord, including all major economies except for Russia.

The accord states the countries’ “aim” to keep the global temperature rise since industrialization to 2 degrees Celsius. It is not a formal UN document that can be used to craft a treaty, as the discussions for the accord took place at the last minute and outside formal talks. The document emerged from meetings between U.S. President Barack Obama and leaders from Brazil, China, India and South Africa, who met on the last day of the Summit to draft an accord.

China, India Sign On to Copenhagen Accord [BusinessWeek, 9 Mar 2010]
India to be listed in Copenhagen Accord preamble [Indian Expresss, 9 Mar 2010]
Full Text of the Copenhagen Accord [U.N. Framework Convention on Climate Change]

The project, to target Sumatra’s Jambi province that has suffered rapid deforestation, is the second joint venture between the neighbouring countries keen to learn how to save forests by giving local communities incentives to keep the trees standing.

Australia and Indonesia are major supporters of a U.N. backed scheme that could potentially channel billions of dollars to developing nations that preserve and enhance their forests.

Called reducing emissions from deforestation and degradation (REDD), developing countries would earn money from carbon credits sourced from forest preservation projects by selling them to rich nations that must meet mandated emission reduction targets.

The U.N. hopes the scheme will start from 2013 as part of a broader climate pact to succeed the existing Kyoto Protocol.

Source:

Indonesia, Australia launch A$30 mln forest CO2 project [Reuter India]

The Mekong River provides water supply, navigation, and irrigation along its route, and its record-low levels have affected northern Thailand, northern Laos and southern China.

Chief Executive Officer of the Mekong River Commission, Jeremy Bird, said that the current water levels and flows are the lowest in 20 years. More than 21 cargo boats in southern China have apparently been stranded due to the shallow waters.

Source:

Low Mekong River Poses Threat [AFP, 26 Feb 2010]

India’s annual Economic Survey forecast predicted that the country would grow as much as 8.75% in the coming fiscal year. The country’s Finance Minister Pranab Mukherjee said that India had moved past the "despondency and gloom" of 2009, and ends the fiscal year "with confidence".

The country’s economy is expected to continue on its "high growth trajectory" that it enjoyed before the global financial crisis.

However, the government’s chief economic advisor, Kaushik Basu, warned that food inflation is a major issue which requires serious policy attention, to support the growth of the agriculture industry. The director-general of the National Council for Applied Economic Research, Suman Bery, also highlighted that India’s rosy forecast could lull policymakers into complacency.

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Source:
India shakes off gloom to forecase 8.8% growth [Financial Times, p2, 26 Feb 2010]

The ruling comes months before Myanmar is set to adopt a new constitution and hold elections as part of a “road map” for a return to civilian rule.

Singapore’s Ministry of Foreign Affairs expressed its disappointment over the verdict, and said that a dialogue among the Myanmar authorities, Aung San Suu Kyi and all other political groups ahead of this year’s elections would offer the best prospects for national reconciliation and the long-term political stability of Myanmar.

Myanmar Denies Dissident’s Appeal [New York Times, 26 Feb 2010]
Suu Kyi ruling ‘disappointing’ [Straits Times, 26 Feb 2010]

In a marathon verdict that took seven hours to deliver, the Supreme Court said the former prime minister and one-time owner of Manchester City Football Club had concealed his ownership of shares in a family business during his five years he held the post. The nine-judge panel said Mr Thaksin’s policies while in office had unduly “favoured Shin Corp at the expense of the state” and competitors in the telecommunications industry.

In one instance, a loan to Burma was approved so that the Burmese government could buy equipment from Shin Corp’s satellite subsidiary, and a law was amended so that Mr Thaksin could sell Shin Corp to Temasek of Singapore.

However, the court said it would be unfair to confiscate all of the 76 billion baht in frozen assets held in local banks, as requested by the Office of the Attorney-General, because part of it was acquired before Thaksin became prime minister. The Supreme Court’s verdict could also lead to at least ten separate criminal cases in connection with this landmark assets-seizure case.

After the verdict was delivered, Mr. Thaksin, speaking via a videolink from Dubai, described the ruling as “very political” and “a joke for the world”, and vowed to continue his fight against the Thai government.

Sources:

Court confiscates B46bn of Thaksin’s assets [Bangkok Post]

Thaksin could face 10 more criminal charges [The Nation]

The seven-hour verdict that cost Thaksin $1.4bn [Independent.co.uk]

Thailand’s Ousted Leader: A Billionaire No More [Time]

Thailand has ordered all migrants from neighboring Myanmar, Cambodia and Laos to register and verify their nationality by Feb. 28 or risk deportation, as part of an ongoing clampdown on immigration. The ‘nationality verification’ exercise theoretically will help the workers get additional social security benefits in Thailand. The workers need to register by this Sunday to begin the process, which could take up to two years to complete.

However, the process is complicated, prohibitively expensive and unrealistic, Human Right Watch said, particularly for migrants from military-ruled Myanmar, many of whom entered Thailand illegally after suffering political and economic repression at home. It is reported that the Myanmar authorities have been dragging their feet over the process, and even extracting money in some instances, leaving many in limbo just days before the Feb 28 deadline.

So far, the Thai authorities have refused to extend the deadline despite increasing calls from international rights organisations to do so.

Sources:

Migrants face abuse, extortion in Thailand (Reuter India)

Thailand to deport 1.3m (Straits times)

Deadline for migrants slammed (Straits times)

Group slams Thai deadline for registering migrants (Businessweek)

The New York Times, however, was less optimistic, and stressed that the region still faces economic challenges, such as deflation in Japan, over-reliance on exports in Taiwan and others, and a real estate bubble in China.

Taiwan and Thailand gain from China growth [Financial Times]
Taiwan, Thailand exit global recession as Asia leads growth [BusinessWeek/Bloomberg]
Asia’s Boom Conceals Some Darker Prospects [New York Times]