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NEW DELHI - No matter who wins, coalition politics are here to stay in India, says BBVA Research in a note on the pending elections. “Modi’s victory is not a done deal, as opinion polls may be underestimating the support of the rural population for the ruling party,” BBVA says. “The worst outcome would be a fragmented government/weak coalition. In any event, the elections’ results – once we exclude extreme cases of a fragmented Government – may not be too important after all.”

PARIS – Global credit insurer Coface has identified 10 emerging countries with what they call “good production prospects and sufficient financing to support expansion” to become the next generation of BRIC (Brazil, Russia, India, China) rated economies.

Coface says Colomba, Indonesia, Peru, the Philippines and Sri Lanka have the sound business climate (A4 or B), similar to that of the BRIC countries today.

HONG KONG - SWIFT’s RMB Tracker shows that Australia’s RMB payments value increased by 248% between February 2013 and February 2014, placing Australia at #6 in the world for RMB payments value (excluding China and Hong Kong). In February 2014, 14.2% of payments between Australia and China/Hong Kong were in RMB versus 7.7% the previous year and only 1.9% in February 2012.

BEIJING - The World Trade Organisation (WTO) has ruled against China in a rare earths dispute with the US, saying the country’s export restrictions on rare earths, molybdenum and tungsten, are incompatible with WTO rules. China argued that limits were established in part to curb over-exploitation of China’s rare earth resources, and problems of illegal mining and environmental deterioration.

SYDNEY - Australian businesses expect international trade conditions to considerably improve over the next six months, with those in construction and wholesale/retail most positive, according to HSBC’s latest Trade Confidence Index. It says Asia will continue to overwhelmingly be Australian businesses’ key trade destination - and tha exchange rate volatility is seen as their biggest trade challenge.

HONG KONG – The HSBC Flash China Manufacturing PMI for March has come in at 48.1, down from 48.5 in February to an eight-month low. The Flash China Manufacturing Output Index is at 47.3 in March (48.8 in February), an 18-month low.

HONG KONG - Asia's real estate investors will spend more in a wider range of geographical locations and property sectors outside the region in 2014, according to Collier's International. "Besides increasing global liquidity, the volume of outbound investments from Asia is being driven by both 'pull' and 'push' factors," says Colliers CEO Asia, Piers Brunner.