Daily Archives: March 21, 2011

China’s ICBC linked to Standard Bank Argentina

March 21, 2011 7:12 pm by beyondbrics
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By Jude Webber and Richard Stovin-Bradford

China burst into Argentina in a big way last year, snapping up joint control of the country’s second biggest oil producer, Pan American Energy, in the biggest deal Argentina has seen in a decade. It also grabbed the local unit of Occidental.

Beijing also agreed to back railway projects in Argentina to the tune of $12bn. China’s other interests in Argentina include iron ore, gold, soya, fertiliser and electronics. While Argentina’s heterodox policies have put many investors on the back foot, China has made Argentina its third-biggest investment destination.

Could that investment appetite now extend to banking? Continue reading »

Tags: , , , , , Posted in Argentina, LatAm |

A lesson in Brazilian politics

March 21, 2011 6:23 pm by beyondbrics
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By Andrew Downie in São Paulo

Gilberto Kassab, mayor of São Paulo, started a new political party this weekend. Ho hum. Yawn.

 

Kassab abandoned the right-wing Democratic Party and started the Social Democratic Party, or PSD (not to be confused with the Brazilian Social Democratic Party – or PSDB – of former President Fernando Henrique Cardoso).

Like most Brazilian political parties, Kassab’s PSD seems to have no clear ideology other than to gain power and milk it for all it’s worth. Continue reading »

Tags: Posted in Brazil |

Ukraine: Europe’s breadbasket no more?

March 21, 2011 5:56 pm by beyondbrics
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By Roman Olearchyk in Kiev and Quentin Peel in Berlin
Anya Tsukanova A farmer digs through a pile of grain near Zhovtneve village, in the region of Chernigov, some 220km north of Kiev on August 11, 2009.

Ukraine, one of the world’s top 10 grain exporters, is facing increasing international pressure to drop controversial plans to introduce stronger state control over its agricultural exports.

The proposed regulation would create state export monopolies, reduce the income available to Ukrainian farmers, and drive away foreign businesses that have invested heavily in grain processing and export facilities, said a chairman in Ost-Ausschuss, the principal business lobby for German investors in eastern Europe Continue reading »

Posted in Ukraine |
From Energy Source March 21, 2011

Over the past week, the oil price appears to have moved in sync with events in Libya. When Gaddafi looked close to quashing the revolution, prices dropped with the expectation that Libyan oil would start flowing again. Every time the rebels have been given a boost, oil prices have gone back up.

So last Tuesday, as pro-Gaddafi forces neared Benghazi, oil dropped 3.9 per cent. But when UN Resolution 1973 was passed on Thursday, it went up 3.5 per cent. It fell again after Gaddafi announced a ceasfire, but rose as evidence came in of his attacks on rebel-held towns. Today, as markets react to the concerted bombing campaign over the weekend, oil has continued to rise, taking Brent back over $115 a barrel. Continue reading »

Tags: , Posted in Saudi Arabia |

Google in China: destined to falter?

March 21, 2011 3:47 pm by Alexandra Stevenson
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GoogleOn Monday Google accused Chinese authorities of causing disruptions to its email service in China; the latest in a series of events that have seen Google partially retreat to Hong Kong over censorship concerns.

Google isn’t the only foreign internet company to complain about censorship. Just last week LinkedIn Corp, a professional network portal, warned investors that Chinese censorship could threaten future business in the country. Could this be the beginning of the end for foreign internet investment in China? Continue reading »

Tags: , , , Posted in China |

El-Erian (2): non-crisis issues that won’t go away

March 21, 2011 2:38 pm by beyondbrics
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In the second half of his interview on beyondbrics, Mohamed El-Erian, chief executive of Pimco, tackles some of the issues policymakers must address when they move their attention from Japan and the Middle East.

He argues for an end to quantitative easing and answers questions on emerging market bubbles, the demographic timebomb in the US, and how Ireland should deal with its fiscal challenges. Continue reading »

Tags: , , , , , , Posted in Global |

“Vodafone of the east” a step nearer

March 21, 2011 2:03 pm by beyondbrics
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By Ben Aris of business new europe

Russian oligarch Mikhail Fridman (pictured) has come a step closer to creating his vision of a “Vodafone of the east”, after his phone company VimpelCom agreed to take over Wind Telecom from Egyptian tycoon Naguib Sawiris.

The $6bn deal ends an acrimonious, nine-month boardroom battle between Fridman and VimpelCom’s other controlling shareholder, Telenor of Norway – marking the latest in a string of defeats for those that have stood in the way of Fridman’s vision. Continue reading »

Tags: , Posted in Europe, Russia |

South Africa: Cape Town or Cape Fear?

March 21, 2011 12:13 pm by Simon Mundy
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South Africa  has spent most of the last two years agonising over the strength of the rand, driven by speculative inflows into its bond market.  But its financial professionals haven’t forgotten the global turmoil in late 2008, when investors rushed to pull their money out of “risky” African assets.

Two new reports suggest that a renewed souring of investor sentiment may be looming for the country. But while one of them stresses the danger of making decisions based on inadequate research, the other illustrates that point – with some sweeping and ill-focused conclusions. Continue reading »

Tags: , Posted in South Africa |

New York headlines

March 21, 2011 11:53 am by beyondbrics
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* Libya attacks spark oil price surge

*Oil rises as allied forces strike Libya

*Syrian protesters set alight Ba’ath party  HQ

*Obama woos sceptical Brazil

*Rio plans Russian diamond push as it eyes Alrosa tie-up Continue reading »

Posted in Global |

Saudi Arabia and China: more oil deals to come?

March 21, 2011 11:35 am by Leslie Hook
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A trail of smoke extends in the wind from the flame of the Saudi Aramco (the national oil company) oil installation known as 'Pump 3' in the Saudi Arabian desert near the oil-rich area Al-KhuraisSaudi Aramco, one of the world’s largest producers of oil, sought to reassure Chinese customers about oil supplies on Monday in Beijing, as global oil prices rose above $115 a barrel for Brent crude.

This has been the standard line from Aramco of late amid recent turbulence in the oil markets, but Aramco had a particularly attentive audience this time. China’s is the world’s second-largest consumer of crude, and Saudi Arabia is China’s largest supplier.  Continue reading »

Posted in China, Saudi Arabia |

Further reading: Palin’s China fears

March 21, 2011 11:10 am by beyondbrics
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Monday’s best picks from the beyondbrics team: how Beijing’s unwritten rules pose an ultimatum to car groups looking to expand, why India has expressed “regret” over airstrikes in Libya, and why piracy stills stands between Russia and WTO membership.

Just for fun: Sarah Palin’s view on China.

Continue reading »

Posted in Global |

Buffett: time (for others) to buy Japan

March 21, 2011 9:59 am by Song Jung-a
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Billionaire investor Warren Buffett cast a vote of confidence for Japan on Monday, helping boost sentiment in the region and buoy stock prices across Asia.

“It will take some time to rebuild but it will not change the economic future of Japan,” Buffett said on a visit to a South Korean factory owned by one of his funds. “If I owned Japanese stocks, I would certainly not be selling them.” Continue reading »

Tags: , , Posted in Asia |

El-Erian (1): world near tipping point?

March 21, 2011 8:47 am by beyondbrics
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Mohamed El-Erian, chief executive of Pimco, one of the world’s biggest money managers, has taken questions from beyondbrics readers on the challenges facing investors in emerging markets and elsewhere as the world lurches from crisis to crisis. He fields some piercing questions – and raises some worrying doubts of his own.

We will publish his answers in two exclusive posts today. The first starts here. Continue reading »

Tags: , , , Posted in Global |

Vietnamese superfarm leads the way

March 21, 2011 6:00 am by Ben Bland
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The sprawling TH Milk farm being built by Israeli experts in Nghe An province will be one of the biggest industrial agriculture projects ever attempted in Vietnam.

Although Vietnam’s economy is partially dependent on the export of cash crops like rice, coffee, pepper and cashew nuts, most of the farmers are still small holders, owning a couple of hectares each at most.

Continue reading »

Tags: , Posted in Asia, Vietnam |

London headlines

March 21, 2011 5:35 am by Josh Noble
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*Coalition air strikes rein in Gaddafi

*Oil rises as allied forces strike Libya

*Syrian protesters set alight Ba’ath party  HQ

*Obama woos sceptical Brazil Continue reading »

Posted in Global |
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