Daily Archives: March 7, 2011

An about-turn for India’s airlines

March 7, 2011 10:00 pm by Orla Ryan

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There is at least one industry that can see the virtues of India’s battered roads and over-crowded trains. Airlines are ordering new jets and filling their pristine seats as those weary of over-eager bus touts book their flights. The Indian economy is expanding and so, despite the knocks of a few years ago, is the demand for affordable air travel. In Tuesday’s FT, Amy Kazmin reports from New Delhi on how Indian air carriers are bouncing back.

Americas market wrap

March 7, 2011 8:21 pm by Anora Mahmudova

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Latin American equities fell on Monday as political tensions in the Middle East stoked fears of a crude supply crunch (and higher oil prices), which would have a damaging impact on the world’s economy. In the region, investors also worried that high oil prices could feed into local inflation pressures and trigger a bear market. Continue reading »

Posted in Global, LatAm | Permalink

Brazil’s carnival: made in China

March 7, 2011 7:10 pm by Samantha Pearson

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Ask anyone what comes to mind when they think of Brazil and they will probably tell you it’s Pelé, the footballer, or carnival.

As such, some may be surprised to learn that up to 80 per cent of costumes worn during Brazil’s most iconic festival have actually been imported, and almost exclusively from China. Although the final outfit is often decorated or put together in Brazil, the vast majority are made from Chinese polyester or nylon with the odd piece from South Korea. Continue reading »

Posted in Brazil | Permalink

Moscow party crowd says Putin or bust

March 7, 2011 6:22 pm by Catherine Belton

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When is a raunchy disco party, complete with half-naked women, strippers and exotic dancers, more than just a party?

When it is given in honour of Russian prime minister Vladimir Putin. That’s when.

Officially, the prime minister’s office frowned on the “Putin party” staged on Sunday night at Rai, one of Moscow’s most decadent clubs. Unofficially, the party will have done no harm to the prime minister’s macho image – and may even assist in launching a possible presidential election campaign later this year. Continue reading »

Tags: consumption, politics Posted in Russia | Permalink

CEE markets wrap: Turkish stocks fall

March 7, 2011 5:24 pm by Neil Dennis

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Central and eastern European markets were mainly higher on Monday, but the relentless pressure from rising oil prices left Turkey’s main index sharply lower.

Companies listed on the ISE and their reliance on exports of oil and gas have made it particularly vulnerable to the run up in commodity prices in recent months. The ISE 100 lost 7.2 per cent during February and was lost 1.5 per cent on Monday to close at 60,217.58. Continue reading »

Posted in Europe, Global | Permalink

Argentina on Paris Club: everything’s fine

March 7, 2011 4:46 pm by Jude Webber

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After more than a decade of limbo, Argentina seemed lately to have been getting closer to a deal to restructure nearly $7bn owed to the 19-strong Paris Club of western creditor nations since its 2001 default.

The government has been vocal and upbeat on progress, and the prospect of a deal within months, though it noted the difficulties of finding consensus among so many different parties. So if a report in La Nación is correct, Argentina has been unduly optimistic. Continue reading »

Tags: debt, Paris club Posted in Argentina | Permalink

Turkey’s oil price fears

March 7, 2011 3:10 pm by Delphine Strauss

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Turkey’s democracy may be immune to the political convulsions sweeping the Arab world – but its economy is acutely vulnerable to the spike in global oil prices.

That worry drove the yields on Turkey’s benchmark two-year bonds to a nine-month high of 9.12 per cent on Monday, shortly before a government debt auction in which demand for 182-day bonds was much more muted than at the last sale in September. Continue reading »

Tags: oil & gas Posted in Turkey | Permalink

Oreo cookies and India’s sweet tooth

March 7, 2011 2:40 pm by Akanksha Awal

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Investors often talk about India’s demographic dividend and the money to be made from its young population. Now the world’s biscuit makers are hoping to dip their hands in the metaphorical cookie jar – by selling some old favourites to Indian families.

After its run away success in China, Kraft foods has launched Oreo cookies in India. Continue reading »

Tags: consumption Posted in India | Permalink

Hungary: rating the rate-setters

March 7, 2011 2:00 pm by Chris Bryant

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Anyone expecting sparks to fly on Monday when Hungary revealed its new appointments to the central bank’s monetary policy committee might be feeling a touch deflated.

Instead of appointing four new members to the seven-member committee, only two new rate-setters were announced – both of whom are economists and former central bank employees. Moreover, their immediate comments betrayed few signs of an impending radical departure in monetary policy, leaving Hungarian assets broadly unchanged. Continue reading »

Tags: central banks, monetary policy Posted in Hungary | Permalink

India’s long and winding legal system

March 7, 2011 1:15 pm by Amy Kazmin

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As Indians compare their investment climate to their neighbour and rival China, they love to tout their country’s rule of law – and British-style justice system – as one of their main advantages.

But its shortcomings have been highlighted last week by a tragic case that had been winding its way through the legal system since 1978, after a young Australian swimming champion was left a quadriplegic after an accident in a hotel swimming pool. Continue reading »

Tags: law Posted in India | Permalink

Asia markets wrap: renminbi hits 17-year high

March 7, 2011 1:09 pm by beyondbrics

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By Stephen Smith

Asian stocks slipped for the first time in three sessions on Monday, led lower by Tokyo and Mumbai as both key markets were hit by renewed oil price jitters and domestic political commotion. Region-wide, the MSCI Asia-Pacific ex Japan index fell 0.8 per cent to 470.68, paring last week’s 1.8 per cent gains.

China’s renminbi advanced to a 17-year high after Beijing said it planned to expand cross-border use of the currency and improve foreign exchange management.

Posted in Asia | Permalink

Malaysian banks: a golden opportunity?

March 7, 2011 12:37 pm by Kevin Brown

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Is Malaysia about to raise the cap on foreign shareholdings in its commercial banks? After a weekend of speculation, it looks as though nervous investors may find out on Wednesday, when prime minister Najib Razak is expected to discuss the issue with central bank governor Zeti Akhtar Aziz.
The outcome is of great interest to some foreign banks, especially those keen to increase the proportion of profits they make in Asia.

Tags: banking, FDI Posted in Malaysia | Permalink

Oil: another turn of the screw

March 7, 2011 12:00 pm by Stefan Wagstyl

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With Libya lurching closer towards civil war, the markets are getting more and more nervous – not least the oil market.

Brent crude rose another 1.8 per cent on Monday, taking the April contract to a new 2011 high of $118.11 a barrel. That’s a cumulative increase of nearly 20 per cent since the unrest started in mid-January in Tunisia. Continue reading »

Tags: Arab spring, oil & gas Posted in Global, Middle East | Permalink

New York headlines

March 7, 2011 12:00 pm by beyondbrics

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* Libya lurches close to full-blown civil war

* Beijing raises spending on internal security

* Indian push to strike telecoms truce

* Russia in $10bn move to tempt investors

* India not as corrupt as China and Russia: Fitch Continue reading »

Posted in Global | Permalink

FT video: Bric layers

March 7, 2011 11:54 am by beyondbrics

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For several months, developed markets have outperformed emerging markets and for four years now the brics grouping has done no better than emerging markets generally. Lex’s John Authers and Vincent Boland look at the future of the brics investment strategy and the alternatives.

Tags: video Posted in Global | Permalink

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Daily Archives: March 7, 2011

An about-turn for India’s airlines

Americas market wrap

Brazil’s carnival: made in China

Moscow party crowd says Putin or bust

CEE markets wrap: Turkish stocks fall

Argentina on Paris Club: everything’s fine

Turkey’s oil price fears

Oreo cookies and India’s sweet tooth

Hungary: rating the rate-setters

India’s long and winding legal system

Asia markets wrap: renminbi hits 17-year high

Malaysian banks: a golden opportunity?

Oil: another turn of the screw

New York headlines

FT video: Bric layers

Global equities macromap

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