Daily Archives: March 30, 2011

Americas market wrap: Bulls return

March 30, 2011 8:36 pm by Anora Mahmudova

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Latin American markets rallied strongly on Wednesday after investors found risk appetite, as fears over the nuclear crisis in Japan eased, while traders become increasingly inured to the fighting in Libya and civil unrest across the Middle East. The MSCI Latin America index rose 1.8 per cent to 4,565.91, the highest level in two months.

Brazilian benchmark Bovespa index rose 0.85 per cent to 67,997 on hopes that the US recovery will offset global weakness. The ADP report of private sector employment, which showed 201,000 new jobs in March, gave further optimism for the bulls. Brazil’s central bank signaled it will soon end a cycle of interest rate hikes in spite of concerns inflation will remain high throughout 2011. Continue reading »

Posted in Global | Permalink

Peru’s Inkia Energy sells $300m bond

March 30, 2011 8:01 pm by Naomi Mapstone

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Inkia Energy has become Peru’s first electric company to tap international markets with the issuance of a 10-year, $300m global bond on Wednesday that people close to the deal say will yield 8.5 per cent.

The Israel Corp subsidiary is one of three consortiums that will invest $1.8bn in Peru’s energy sector as one of the world’s fastest-growing economies struggles to supply Peru’s burgeoning mining and manufacturing sectors. Continue reading »

Tags: bonds, FDI, infrastructure Posted in LatAm, Peru | Permalink

EM equities: small is beautiful

March 30, 2011 6:46 pm by Stefan Wagstyl

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While the BRICs make headlines, smaller markets can often given investors a better return. The problem is that a small market can be more volatile – too many eggs in Thailand can be risker than too many in China.

But a basket of smaller markets is a different matter. State Street Global Advisers has calculated that a group of smaller EMs outperformed the BRICs in equities by a whopping 39 per cent over 14 years. That’s worth going for – but there are catches: smaller markets offer less liquidity and less stock choice. Continue reading »

Tags: equities, fund management Posted in Global | Permalink

[snap] India beat Pakistan by 29 runs

March 30, 2011 6:33 pm by Jonathan Wheatley

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India beat Pakistan by 29 runs with seven balls remaining in the cricket world cup semi-final on Wednesday.

The match brought India to a standstill during the afternoon and generated extraordinary wind-fall profits for some. Continue reading »

Posted in Uncategorized | Permalink

India’s on/off love for silver

March 30, 2011 6:02 pm by Akanksha Awal

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Indians are almost as crazy about silver as they are about gold and the country ranks as the third largest consumer of the bullion, according to the most recent research on silver from Deutsche Bank.

But unlike India’s recent gold craze when Indians did their bit to to drive global prices higher, the rising cost of silver is seeing demand for the bullion wane. Continue reading »

Tags: commodities Posted in India | Permalink

Argentina’s petrol pump roller-coaster

March 30, 2011 2:33 pm by Jude Webber

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You never quite know where you are with prices in Argentina. The inflation figures don’t inspire much confidence. Nor do price controls. This week the government has taken another spin on the roller-coaster of petrol prices.

As with much else, ordinary Argentines have taken the latest unfreezing of pump prices in their stride – so far. But production and investment in the energy industry are slumping. Industry participants describe the situation as a pressure cooker ready to explode. Continue reading »

Tags: inflation, monetary policy, politics, Shell Posted in Argentina, LatAm | Permalink

China’s tourists to overtake Japan’s

March 30, 2011 1:55 pm by Alexandra Stevenson

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It’s not hard to spot Chinese tourists in China. They go around in large groups – usually single file – led by a guide with a flag and loud speaker, and sport brightly-coloured, matching baseball caps.

But this stereotype is changing. And as it does, so does the market. By 2020, the Chinese will spend more on tourism than their neighbours in Japan, becoming the world’s second biggest source of travel business after the US. Continue reading »

Tags: consumption, economy Posted in Asia, China | Permalink

Rome salutes you, Mr Singh

March 30, 2011 12:27 pm by James Lamont

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From Mohali
When the first four was scored in epic cricket clash between India and Pakistan on Wednesday the stands erupted in bellowing jubilation.

India’s opening batsman Virender Sehwag’s first boundary was like the release of a valve on a pressure cooker. The sporting contest between the two nuclear armed rivals is the biggest for a decade. The match carries symbolism far beyond the cricket field, and deep into history. Continue reading »

Tags: diplomacy, politics, sports Posted in India | Permalink

New York headlines

March 30, 2011 11:51 am by beyondbrics

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* Brazil imposes tax rise to restrain the real

* India, Pakistan leaders pad up for cricket diplomacy

* Russian group joins funding round for 360buy.com

* China may surpass Japan as world’s no. 2 tourism market by 2013

* Gold buying in India set to rise 15 per cent Continue reading »

Posted in Global | Permalink

Middle East protests: can soaring oil revenues stem the unrest?

March 30, 2011 11:32 am by Stefan Wagstyl

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With Brent Crude at $115 a barrel, it is little surprise to see the International Energy Agency talking in terms of oil remaining at $100 for 2011. And if it does, the organisation expects OPEC members to generate over $1,000bn in export revenues for the first time, as the FT reported on Wednesday.

Little wonder that Saudi Arabia and the Gulf states, which dominate the 13-nation cartel, can afford to splash out on big public spending plans to help quell social unrest. But it is expensive – Saudi Arabia now needs an oil price of $83 a barrel to balance its 2011 budget. And it may not work: history suggests that as countries grow richer, their citizens want rights as well as rewards. Continue reading »

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

China’s affordable housing: learning from Chongqing

March 30, 2011 10:46 am by Josh Noble

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Housing for China’s less well-off is a hot topic for those who watch the middle kingdom. As part of its recent 5-year plan, Beijing wants to build millions of new affordable homes across the country, and the project has the personal backing of Li Keqiang (heir to one of China’s two thrones).

Previous efforts have been subject to abuse, as wealthy Chinese faked their incomes to buy apartments at knockdown prices. But a new scheme in Chongqing may have come up with a workable formula. Continue reading »

Tags: property Posted in Asia, China | Permalink

Cricket: advertising knock-out

March 30, 2011 10:32 am by Akanksha Awal

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Match tickets are not the only thing being sold at sky-high rates before the India-Pakistan cricket world cup semi-final on Wednesday. Television broadcaster ESPN Star is also keen to maximise advertising revenues.

While avid cricket fans have reportedly paid up to $2200 for stall tickets in last-minute deals, ESPN Star has been reportedly asking for rates of up $38,000 for a 10-second advert during the highly-charged semi-final which punters say is even more than for the final. Continue reading »

Tags: marketing, media, sports Posted in India, Pakistan | Permalink

Vietnam: debt woes

March 30, 2011 8:18 am by Ben Bland

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Concerns about the sizable external debt in Vietnam are often framed in terms of the impact on the ability of the government and businesses to continue borrowing at affordable rates.

But it is the poor that will really lose out unless Vietnam takes “urgent” action to reduce its large trade and budget deficits and stop foreign debt increasing further, a United Nations adviser warned in Hanoi on Tuesday.

Tags: debt, politics Posted in Vietnam | Permalink

Guest column: Gulf states should cut foreign labour and promote local jobs

March 30, 2011 7:40 am by beyondbrics

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By Farouk Soussa of Citigroup

Gulf countries need to wean themselves off cheap foreign labour for greater social stability.

The goals of those protesting across the Middle East vary greatly from country to country but one thing that most have in common is a sense of frustration with their economic situation, at the heart of which is a lack of suitable jobs. And one step that the authorities in Gulf countries could take is to limit the inflow of foreign workers to promote greater local employment. Continue reading »

Tags: Arab spring, guest post, unemployment Posted in Global, Middle East | Permalink

Older entries

beyondbrics

Daily Archives: March 30, 2011

Americas market wrap: Bulls return

Peru’s Inkia Energy sells $300m bond

EM equities: small is beautiful

[snap] India beat Pakistan by 29 runs

India’s on/off love for silver

Argentina’s petrol pump roller-coaster

China’s tourists to overtake Japan’s

Rome salutes you, Mr Singh

New York headlines

Middle East protests: can soaring oil revenues stem the unrest?

China’s affordable housing: learning from Chongqing

Cricket: advertising knock-out

Further reading: ousting Gaddafi

Vietnam: debt woes

Guest column: Gulf states should cut foreign labour and promote local jobs

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