Daily Archives: March 16, 2011

Americas market wrap

March 16, 2011 9:04 pm by Anora Mahmudova

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Latin American stocks fell on Wednesday, as fears mounted about continuing nuclear crisis in Japan. Brazil benchmank Bovespa index dropped sharply, down 1.5 per cent at 66,003. Mexico’s IPC idex fell 0.99 per cent to 35,655 and Chile’s IPSA index was 0.7 per cent lower at 4,335. Continue reading »

Posted in Uncategorized | Permalink

Venezuela: a good deal from China?

March 16, 2011 7:45 pm by Benedict Mander

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What would Hugo Chávez do without China? From cheap fridges for the poor to life-saving state-to-state loans, help with building essential housing to massive investments in major oil projects, there’s scarcely an area of Venezuela’s economy where China doesn’t play a key role.

However, while there’s no question that China’s help is of great importance for Chávez – not least given a deterioration in relations with the private sector and countries that have more traditionally been keen to invest in Venezuela, like the US – some doubt whether he is always cutting the best deal. Continue reading »

Tags: debt, energy, oil & gas Posted in Venezuela | Permalink

Georgia: Property boom or bubble?

March 16, 2011 7:00 pm by Courtney Weaver

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Break out the champagne: another property boom is heating up in the former Soviet Union.

While the run-up to 2008 saw property prices more than triple in former Russian satellites such as Ukraine and Kazakhstan, and subsequently bottom, a new party, it seems, is already under way. Continue reading »

Tags: property Posted in Georgia | Permalink

CEE markets: pummelled by global events

March 16, 2011 6:51 pm by Alexandra Stevenson

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Investors have had nowhere to hide of late, it appears. Emerging markets have been buffeted by global, not local, events.

This has been true even in central and eastern Europe, despite its well-earned reputation as a stable and even somewhat dull corner of the EM universe.

Tags: equities Posted in Uncategorized | Permalink

Russia: nuclear export hopes hit

March 16, 2011 6:40 pm by Isabel Gorst

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The disaster at Japan’s Fukushima nuclear power plant is reverberating around the Moscow headquarters of Rosatom.

Russia’s state atomic agency has been carving out a role for itself as global exporter of nuclear know-how. But with nuclear programmes coming under new scrutiny around the world, Rosatom will have its work cut out turning projects into hard cash. Continue reading »

Tags: Japan earthquake, nuclear power Posted in Russia | Permalink

Egypt downgraded by Moody’s, again

March 16, 2011 5:34 pm by Jonathan Wheatley

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Moody’s Investors Service had downgraded Egyptian bonds to Ba3, three levels below investment grade, as protests and violence continue and the country comes no closer to making the transition to civilian government.

It’s the second time Moody’s has downgraded Egyptian debt since protests began in late January, forcing former president Hosni Mubarak to sand down on February 11. Continue reading »

Tags: Arab spring, debt, politics Posted in Egypt | Permalink

Inflation-linked bonds: an EM haven?

March 16, 2011 5:25 pm by Stefan Wagstyl

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Inflation-linked bonds – common enough in developed markets - have been something of a niche instrument in emerging markets.

But with inflation fears stalking EMs, that is changing, with three governments planning to issue linkers in the next few months – Thailand, Hong Kong and India. And if inflation persists, the market could develop rapidly, given the growing sophistication of EMs and EM investors. Continue reading »

Tags: bonds, inflation Posted in Global | Permalink

China: No 2 in ATMs and airports

March 16, 2011 2:13 pm by Alexandra Stevenson

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We all know China will one day be top of the list for everything – biggest energy consumer, biggest economy, the list goes on. Often the only real question is when. So it’s worth keeping track of where China is among rankings in all kinds of areas.

This week, the news is that Beijing’s Capital Airport out-ranks Chicago’s O’Hare in volume of traffic, becoming the world’s second busiest airport; and that China has the world’s second biggest number of automated teller machines (ATMs.)

Tags: banking, consumption, transport Posted in China | Permalink

Bangladesh waking up to impact of Yunus case?

March 16, 2011 12:56 pm by Amy Kazmin

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For months, the Bangladesh government has waged a bitter battle against Nobel peace prize-winning economist Mohammad Yunus – a course of action that many have warned would hurt Bangladesh’s international reputation.

As supporters of Yunus in the US congress issued fresh appeals on his behalf this week, is it possible Bangladesh authorities are finally waking up to the potential consequences of their campaign? Continue reading »

Tags: banking, microfinance, politics Posted in Bangladesh | Permalink

[Snap] China suspends nuclear plants

March 16, 2011 12:28 pm by Alexandra Stevenson

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China announced on Wednesday that it would suspend approvals for any new nuclear power plants in light of the disaster in Japan. In a statement the State Council said it would suspend approval of nuclear power projects, including those currently in preliminary stages of development.

While confirming there were no abnormal levels of radiation in China from Japan, the announcement signifies a change in tone from that taken by China’s energy chief on Monday, when he was busy advocating the importance of nuclear energy for China’s future energy needs. Continue reading »

Tags: Japan earthquake, nuclear power Posted in China | Permalink

Kudrin: oil might go to $150-$200

March 16, 2011 11:25 am by Stefan Wagstyl

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What does Alexei Kudrin (pictured), Russia’s finance minister, know about the oil market that the rest of us don’t? The answer might be quite significant since he is predicting a possible oil price surge to between $150 and $200 a barrel.

According to Bloomberg, Kudrin told a Moscow conference on Wednesday that turmoil in the Middle East and the nuclear disaster in Japan would drive up oil although “the growth will be speculative and short-lived”. As Russia’s the world’s largest oil producer, Kudrin is well placed to venture an opinion. But government ministers are rarely experts at forecasting markets.

Tags: oil & gas Posted in Russia | Permalink

Vietnam: nuclear still a go

March 16, 2011 10:48 am by Ben Bland

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As a large rain storm hit Hanoi on Tuesday lunchtime, some people cancelled meetings and rushed to take their kids home from school after erroneous rumours circulated suggesting that Vietnam was being hit by “radioactive rain” that had been blown over from Japan. (The World Health Organization has issued a statement insisting that such rumours, which have been spreading around Asia, are unfounded.)

Despite the febrile atmosphere caused by the unfolding nuclear crisis in Japan, the Vietnamese government has said that it intends to forge ahead with a plan to build the country’s first nuclear power plants, with Japanese and Russian assistance. Continue reading »

Tags: Japan earthquake, nuclear power Posted in Vietnam | Permalink

Pakistan: biting the bullet on tax?

March 16, 2011 10:21 am by Farhan Bokhari

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Pakistan’s president Asif Ali Zardari has finally ordered fresh measures to raise badly-needed government revenue – a necessary step to rescue a faltering relationship with the International Monetary Fund.

But after a late-night announcement on Tuesday, the new steps threw up more questions than answers. Continue reading »

Tags: fiscal policy, IMF Posted in Pakistan | Permalink

[update] Bahrain: Pearl roundabout cleared, five protesters reported dead, oil spikes

March 16, 2011 8:46 am by Stefan Wagstyl

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Bahrain security forces cleared Pearl roundabout where protesters have been camped out for several weeks as well as a medical complex, the state news agency said on Wednesday.

State television showed the square, the centre of a pro-democracy campaign, empty of protesters. According to Reuters, the BNA report denied that reports had aircraft and “weapons” had been used to clear the square. Continue reading »

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

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beyondbrics

Daily Archives: March 16, 2011

Americas market wrap

Venezuela: a good deal from China?

Georgia: Property boom or bubble?

CEE markets: pummelled by global events

Russia: nuclear export hopes hit

Egypt downgraded by Moody’s, again

Inflation-linked bonds: an EM haven?

China: No 2 in ATMs and airports

Bangladesh waking up to impact of Yunus case?

[Snap] China suspends nuclear plants

Kudrin: oil might go to $150-$200

Vietnam: nuclear still a go

Further reading: Rapping about China’s inflation

Pakistan: biting the bullet on tax?

[update] Bahrain: Pearl roundabout cleared, five protesters reported dead, oil spikes

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