Daily Archives: September 3, 2010

Americas markets wrap: Stocks post weekly gains as US data eases double dip fears

September 3, 2010 10:05 pm by Shannon Bond

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A better-than-expected US jobs report helped Latin American stocks finish off the week with strong gains, and Petrobras surged again ahead of its share offer.

“It’s approaching ‘the pay your money, take your chance time’, with all the back to school money needing to find a home”, wrote emerging markets strategists at RBS. “For the bulls the US non-farm payrolls could have been worse and the hope will be that this will generate a mini risk-on rally which might just pull global sentiment back from the brink of the double dip scenario.” Continue reading »

Posted in Global, LatAm | Permalink

Brazil takes sunny view of growth and inflation

September 3, 2010 8:45 pm by Vincent Bevins

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Growth in the Brazilian economy slowed down less-than-expected in the second quarter, indicating it could do even better than the previously predicted 7 per cent GDP expansion this year. Things look quite good for Brazil.

But could that be too fast? That was the worry early this year, but now the government seems to be a lot more sanguine. Continue reading »

Actis sees potential on the shelves of Brazilian supermarkets

September 3, 2010 5:52 pm by Alexandra Stevenson

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Another day, another deal. It seems like Brazilians are consuming everything in large quantities these days, from beer to high tech gadgets. Even foreign advertising companies are crowding at the gates to link up with local companies.

Now it looks like private equity fund Actis has caught Brazil fever. In its first move into the country, it is investing $58m in Companhia Sulamericana de Distribuição, operator of supermarket chains São Francisco and Cidade Canção. The deal reveals something very interesting about the opportunities in Brazil’s modern retail sector: that some regions have yet to be tapped. Continue reading »

Posted in Brazil | Permalink

Deal of the day: Burger King looks to expand in Latin America

September 3, 2010 4:33 pm by beyondbrics

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By Virginia Garcia-Martinez of mergermarket

In a country that produces more beef exports than anywhere else in the world, it’s little surprise that hamburgers are big business.

Now three of Brazil’s best-known businessmen are betting on Burger King’s potential. Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira are behind US private equity firm 3G Capital, which has a record of long-term investments in global consumer brands and has now had a $3.25bn bid for Burger King accepted. Continue reading »

Tags: consumption, M&A, mergermarket Posted in Brazil | Permalink

Reforming Russia: changing the engine on a rusting boat

September 3, 2010 3:25 pm by Neil Buckley

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“Modernisation” has been the buzzword of Russian policy since President Dmitry Medvedev last autumn launched a campaign to create a more diversified economy. The spur was Russia’s unexpectedly sharp 8 per cent economic contraction last year – worst of the Brics or G20 economies – which exposed its over-reliance on digging oil and other commodities out of the ground. But what are his programme’s chances of success?

Not great- at least according to Russian and foreign academics and journalists meeting this week at the annual Valdai Discussion Club, organised by state-owned RIA-Novosti news agency. Continue reading »

Posted in Russia | Permalink

Taiwan looks to cap-and-trade

September 3, 2010 3:00 pm by beyondbrics

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By Jane Rickards in Taipei

Taiwan’s Premier Wu Den-yih this week urged the island’s Environmental Protection Agency to draw up plans for a cap-and-trade system. At a time when the US and Australia have all but abandoned the idea, Taiwan’s preparations for a green house gas emissions trading system could eventually resemble the one used by the European Union.

But two big obstacles stand in the way of making the system work: local businesses, and Beijing. Continue reading »

Posted in Taiwan | Permalink

How to name an Africa fund: a cryptic choice for Sir Bob’s new venture

September 3, 2010 1:54 pm by William Wallis

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Sir Bob Geldof – the Irish aid campaigner and former rock star – is preparing a foray into private equity in Africa, as the FT reports today. But why has he called the fund “8 Miles?” There are plenty of potential explanations.

Miles Morland, whose fund Blakeney Management has been a pioneering investor in African markets, and who is no fan of Sir Bob’s aid campaigns, claims to be very flattered that the venture has been named after him. This is recognition finally that Africa will not develop with aid alone. Continue reading »

Tags: private equity Posted in Africa, Global | Permalink

Wheat price soars, Kremlin scrambles

September 3, 2010 12:45 pm by Courtney Weaver

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Moscow’s decision to extend Russia’s grain ban for another year may have caught world commodity markets by surprise, but the catalyst seems pretty clear: buckwheat prices have risen 60 per cent in the past 2 weeks.

With food prices in some Russian regions rising 30 per cent, authorities are now finding themselves in a two-fronted battle against food inflation, and against fear. Continue reading »

Tags: commodities, inflation Posted in Russia | Permalink

New York headlines

September 3, 2010 12:14 pm by beyondbrics

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* China orders action to cool food prices

* Gazprom to double gas imports from Azerbaijan

* Argentina gold mine sparks rival bids

* Stable Brazil expected to grow 7% this year

* Seven die in Mozambique food rioting Continue reading »

Posted in Global | Permalink

US do-gooders set their sights on China’s tycoons

September 3, 2010 12:04 pm by Jamil Anderlini

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Having successfully embarrassed many of their billionaire peers in the US into giving up chunks of their fortunes, Warren Buffett and Bill Gates (pictured) are now travelling to China.

According to wealthy Chinese tycoons who have been invited, the crusading duo will host a dinner in Beijing on September 29 for a “large group of Chinese wealthy people”. Continue reading »

Posted in China, Uncategorized | Permalink

Asia markets wrap: Indonesia holds rates; Mittal hire boosts Bharti

September 3, 2010 11:54 am by Henry Mance

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Asian equities gained on Friday, as positive data from the US boosted hopes of an export-led recovery. Thai and Philippine indices were among the best performers.

Indonesia’s central bank, as expected, kept its benchmark rate at 6.5 per cent, for a thirteen month running. Yet rising inflation and excess liquidity led the bank to increase reserve requirements. Continue reading »

Posted in Global | Permalink

Amid uncertainty, Romania reshuffles

September 3, 2010 10:07 am by Chris Bryant

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Romania’s sacked finance minister, Sebastian Vladescu, who lost his job Thursday evening, offered a succinct assessment of his dismissal, and that of five other ministers, from the Romanian cabinet: “It was a political decision, I think it was a mistake”.

Prime minister Emil Boc was under huge political pressure to do something to turn around the fortunes of his government, which has faced an onslaught of criticism since announcing in May a package of harsh austerity measures – including a 25 per cent public sector pay cut. Continue reading »

Tags: IMF Posted in Romania | Permalink

China lifts forex reserves veil – a little

September 3, 2010 8:56 am by Stefan Wagstyl

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So the secret is out. After years of silence, China has disclosed that around 65 per cent of its $2,450bn of foreign exchange reserves is in US dollars, with 26 per cent in euros, 5 per cent in pounds and 3 per cent in yen.

As the China Securities Journal, an official newspaper, reported, that’s broadly in line with the global average – and it is roughly in line with long-standing estimates. So, no surprise there. But the numbers highlight why China is worried about a possible depreciation of the US dollar.

Beijing will have another chance to voice its concerns when Larry Summers, US president Barack Obama’s top economic adviser, arrives in China on September 4th for three days on a visit announced on Thursday by the White House. Continue reading »

Posted in China | Permalink

London headlines

September 3, 2010 5:56 am by beyondbrics

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* Functionality remains Baidu’s priority

* Mahindra Satyam plans to tap opportunities in US health sector

* Seven die in Mozambique food rioting

* China pet industry set to grow leaps and bounds

* Geldof seeks $1bn for African investment plan Continue reading »

Posted in Global | Permalink

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beyondbrics

Daily Archives: September 3, 2010

Americas markets wrap: Stocks post weekly gains as US data eases double dip fears

Brazil takes sunny view of growth and inflation

Actis sees potential on the shelves of Brazilian supermarkets

Deal of the day: Burger King looks to expand in Latin America

Reforming Russia: changing the engine on a rusting boat

Taiwan looks to cap-and-trade

How to name an Africa fund: a cryptic choice for Sir Bob’s new venture

Wheat price soars, Kremlin scrambles

New York headlines

US do-gooders set their sights on China’s tycoons

Asia markets wrap: Indonesia holds rates; Mittal hire boosts Bharti

Amid uncertainty, Romania reshuffles

China lifts forex reserves veil – a little

Further reading: Chile impresses, India disappoints

London headlines

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