Daily Archives: November 22, 2010

Americas markets wrap: Bovespa falls most in a month on Ireland woes

November 22, 2010 10:06 pm by Shannon Bond

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Brazil’s Bovespa took its biggest fall in a month as turmoil surrounding Ireland’s bank crisis and IMF bail-out gripped global markets. The benchmark index lost 1.78 per cent as steelmakers and homebuilders declined. Investors in Mexico and Chile, however, shook off losses earlier in the session to close higher for the day, while regional currencies fell against the dollar. Continue reading »

Posted in Global, LatAm | Permalink

Middle East telecoms: consolidating

November 22, 2010 8:00 pm by Stefan Wagstyl

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Egyptian billionaire Naguib Sawiris and Qatar Telecom have agreed a neat $1.2bn telecoms deal in Tunisia that offers something to everybody involved, not least the Tunisian authorities who get to see foreign investors putting a chunky price tag on one of the country’s key assets.

Sawiris-controlled Orascom Telecom is selling its 50 per cent stake in Tunisiana, Tunisia’s biggest telecoms company, to QTel and a local partner, Princesse Holding, a conglomerate run by Mohamed Sakher El Materi, the son-in-law of Zine El Abidine Ben Ali, the Tunisian president. Continue reading »

Tags: telecoms Posted in Egypt, Middle East, Qatar, Tunisia, United Arab Emirates | Permalink

Ukraine: street protests over tax reform

November 22, 2010 7:18 pm by Roman Olearchyk

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Ukraine’s protesters have taken to the streets once again, this time in the thousands. Representing small- and medium-sized businesses, they blocked traffic on Kiev’s main street on Monday, the 6th anniversary of the Orange Revolution. Chants against the government’s tax reform plans could be heard near President Viktor Yanukovich’s office in the biggest demonstration since the 2004 pro-democracy Orange Revolution. Continue reading »

Tags: tax Posted in Ukraine | Permalink

MTV bets on Middle East audience

November 22, 2010 6:45 pm by Robin Wigglesworth

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The Arab world has long embraced television with gusto, and international media conglomerates are now increasingly starting to eye the potential of a youthful and increasingly well-to-do market with more than 250m often sedentary inhabitants.

Viacom’s MTV Networks and MBC Group, the largest pan-Arab broadcaster, Sunday signed an agreement to distribute the former’s Nickelodeon content through the latter’s regional network. Continue reading »

Tags: culture & entertainment Posted in Global, Middle East | Permalink

CEE markets wrap: markets fret about Irish bailout

November 22, 2010 6:27 pm by Ranjit Lall

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Central and eastern European markets suffered a sharp fall as fears that Ireland’s debt crisis could damage European growth gripped investors. Stocks in Turkey and Romania suffered the biggest losses.

“The markets were driven higher this morning by news about Ireland but now they are settling back,” said one Istanbul trader. “There is some selling pressure although there are no real negative drivers out there.” Continue reading »

Posted in Global | Permalink

South Africa vs Brazil: a growth gap

November 22, 2010 6:10 pm by Ranjit Lall

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The economies of Brazil and South Africa – both major commodities exporters – are structurally very similar. So it puzzling that one has emerged from the crisis with soaring inflation and escalating interest rates while the other has experienced declining inflation and its lowest interest rates for 30 years. What explains their divergent paths? Continue reading »

Tags: commodities, inflation, monetary policy Posted in South Africa | Permalink

Tesco’s Leahy: build businesses in emerging markets, not empires

November 22, 2010 5:35 pm by Alexandra Stevenson

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The headlines about retail sales doubling and tripling for multinationals in emerging markets has become common fare. So Monday’s news that Tesco, the world’s third largest retailer by sales plans to quadruple its China sales over the next five years is not getting any gasps from the stands.

It’s a no-brainer, just about everyone these days is saying a country of 1.3bn consumers is a good bet on growth. But with so many rivals pilling in, the question who will win as the competition becomes tougher. Continue reading »

Tags: retail Posted in China | Permalink

Russia: feed costs drive livestock cull

November 22, 2010 4:59 pm by Isabel Gorst

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There are worrying signs of the impact on farmers of rising feed grain prices, with some small-holders in Russia beginning to slaughter livestock in the wake of a disastrous grain harvest this year.

Moscow imposed a grain export ban in August after one third of the Russian grain crop perished in a scorching heat wave and drought. Although intended to protect the domestic market from grain shortages, the ban has failed to halt a surge in Russian feed barley prices that has driven some livestock farmers to cull their herds. Continue reading »

Tags: agriculture Posted in Russia | Permalink

Chart of the week: what are Latin America’s hottest economies?

November 22, 2010 3:49 pm by beyondbrics

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By Valentina Romei and Henry Mance

Argentines are typecast as Latin America’s aristocrats: venerable, cultured and with their best days firmly behind them. The country’s golden age – when Buenos Aires was the Paris of South America, and western money poured into the pampas – ended a century ago. The new Latin America supposedly lies elsewhere: Brazil, Peru and Colombia.

Not so fast. As our chart of the week shows (click ‘more’ to see it), Argentina is the continent’s richest country – and one of its three fastest-growing since 2000. The two top performers are equally surprising: Uruguay and Paraguay. Meanwhile, Brazil and Mexico – whose economies were roughly the same size at the beginning of the decade – are on very different paths. Continue reading »

Tags: chart of the week, GDP Posted in Argentina, Brazil, Global, Mexico, Uruguay | Permalink

Mumbai new airport: end of old saga

November 22, 2010 2:47 pm by James Fontanella-Khan

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Mumbai’s global travellers can breathe a sigh of relief: that after 13 years the green light has been given for the construction of the city’s second international airport.

The city’s frequent fliers can expect fewer flight delays, once the new hub opens in around six years. But they won’t all be happy, as it could take three hours to reach the new airport by car. Continue reading »

Tags: infrastructure Posted in India | Permalink

Asia: take a cue from Malaysia’s Zeti

November 22, 2010 12:46 pm by Kevin Brown

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Malaysian central bank governor Zeti Akhtar Aziz took some stick from the business lobby in March when she raised interest rates from their post global financial crisis low point to head off incipient inflation pressures.

The widespread fear was that the central bank’s action might send Malaysia tumbling back into recession by choking off the post-crisis recovery. Eight months on, Zeti seems to be getting her reward as Malaysian economic activity slows to a sustainable level without experiencing the wild quarterly swings that have hit neighbours such as Singapore and Thailand. Continue reading »

Tags: capital controls, monetary policy Posted in Malaysia | Permalink

New York headlines

November 22, 2010 12:01 pm by beyondbrics

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* Tesco targets growth in Asia

* Pay of Latin American bankers soars

* China rolls out measures to fight inflation

* India helps balance global trade as importer

* Vietnam group eyes London secondary listing

* Markets, upbeat Continue reading »

Posted in Global | Permalink

Asia markets wrap: recovery takes hold

November 22, 2010 11:55 am by Ranjit Lall

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Asian markets consolidated their recovery from last week’s onslaught, with stocks in India and Thailand leading the way. However, stocks in China closed down 0.2 per cent.

“A resolution to the Irish situation is boosting risk appetite across the board in Asia,” commented Kevin Grice, emerging markets economist at Capital Economics. “But Chinese markets are still reeling from last week’s reserve requirement increase – and possible further anti-inflation measures.” Continue reading »

Posted in Global | Permalink

Singh to Cameron: try harder

November 22, 2010 10:45 am by James Lamont

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The UK is pulling out the stops to cement what the new Conservative government calls a “special relationship” with India, one of the world’s most promising emerging markets and its former colony.

Yet a moment of top level forgetfulness by New Delhi at the weekend suggests David Cameron, the UK prime minister, needs to try harder. Continue reading »

Tags: politics Posted in India | Permalink

Taiwan: wake up and buy the coffee

November 22, 2010 10:10 am by Robin Kwong

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It’s not just the coffee that is piping hot at 85C, one of Taiwan’s most popular coffee and bakery franchises. Shares in the company more than doubled on its debut on the Taiwan Stock Exchange on Monday – rising 138 per cent to T$400.

The successful listing reflects 85C’s fairytale growth to date, as well as investor excitement about its expansion prospects in China. That in turn shows how Taiwan’s economic ties with the mainland have moved from taboo to cause for celebration. Continue reading »

Tags: China-Taiwan, IPOs Posted in China, Taiwan | Permalink

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beyondbrics

Daily Archives: November 22, 2010

Americas markets wrap: Bovespa falls most in a month on Ireland woes

Middle East telecoms: consolidating

Ukraine: street protests over tax reform

MTV bets on Middle East audience

CEE markets wrap: markets fret about Irish bailout

South Africa vs Brazil: a growth gap

Tesco’s Leahy: build businesses in emerging markets, not empires

Russia: feed costs drive livestock cull

Chart of the week: what are Latin America’s hottest economies?

Mumbai new airport: end of old saga

Asia: take a cue from Malaysia’s Zeti

New York headlines

Asia markets wrap: recovery takes hold

Singh to Cameron: try harder

Taiwan: wake up and buy the coffee

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