Daily Archives: April 21, 2011

Brazilians brave traffic jams at Easter

April 21, 2011 9:03 pm by Vincent Bevins
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On this long Easter weekend, many Brazilians like to get out of their cities and spend some time relaxing on the beach, or with their relatives around the country. But first, they will likely have to spend hours sitting in traffic or standing around at airports, as they push up against the limits of their country’s already overstretched transport infrastructure. Continue reading »

Posted in Brazil, LatAm |

Poland: Fighting inflation with currency

April 21, 2011 6:43 pm by Jan Cienski
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Soaring inflation, ballooning public debt – what’s a government to do? In Poland, where the ruling Civic Platform party will be facing the voters in October, the answer appears to lie with a stronger zloty. Continue reading »

Tags: , Posted in Poland |

Deal of the day: Lisin, man of steel

April 21, 2011 4:00 pm by beyondbrics
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By Mark Shapland and Rob Hartley of mergermarket

Russia’s richest man, Vladimir Lisin, has bolstered his position on the global stage with a $600m buyout of steelmaking joint venture partner, Steel Invest and Finance (SIF).

The fortune of Russia’s wealthiest oligarch was this year estimated at $24bn, much due to the shrewd management of his core metals and mining business, based out of Lipetsk. The latest expansion sees his Novolipetsk Steel (NLMK) take full control of the SIF JV after buying a 50 per cent share from Duferco Group, controlled by steel magnate Bruno Bolfo. Continue reading »

Tags: , , Posted in Russia |

UAC: Bumpy flight ahead

April 21, 2011 3:00 pm by beyondbrics
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By Victoria Bakir of Debtwire

Russia’s United Aircraft Corporation (UAC) completed a lengthy 70 billion ruble ($2.5bn) debt restructuring last month, leaving it free to focus on its next fundraising exercise – the sale of up to a 25 per cent stake, either next year or in 2013.

But it could take longer for the group, which counts stakes in jet fighter manufacturers Irkut, MiG and Sukhoi among its 19 government-controlled holdings, to get its equity-raising plan off the ground. Continue reading »

Tags: , Posted in Russia |

Brazil: crazy for Easter eggs

April 21, 2011 2:12 pm by Louise Lucas
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Chocolate producers are gearing up for an Easter bonanza – down Rio way.

Brazil, the world’s biggest Catholic country, ranks second only to the UK when it comes to guzzling chocolate Easter eggs. Euromonitor, the data agency, projects that the broader market for seasonal chocolate – including Christmas selections – will grow 50 per cent by 2015, far outpacing global growth of 15 per cent and the UK’s 20 per cent.

In a nod to the country’s other passion, there will be football-themed eggs along with the usual slew of Toy Story and other cartoons familiar to Brits. Continue reading »

Tags: Posted in Brazil |

Chinese cars: chauffeurs are so 2009

April 21, 2011 1:07 pm by Patti Waldmeir
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Just when virtually every global carmaker has finally started making stretch versions for the China market – because the Chinese allegedly all have chauffeurs – comes surprising news from Rolls-Royce Motor Cars: more and more Chinese Rolls-Royce owners like to drive themselves. Continue reading »

Tags: , , , Posted in China |

Is all that glitters gold?

April 21, 2011 12:04 pm by beyondbrics
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By Jamie Chisholm for ft.com

Amid all the resurgent ebullience in the broader market, action in the precious metals space speaks of either speculative excess or a frantically blinking warning gauge.

Gold has hit another record of $1,510 an ounce and is currently up 0.6 per cent to $1,507, while silver, up 1.6 per cent to $45.92, earlier breached $46 an ounce for the first time since the Hunt brothers cornered the market in 1980. Continue reading »

Tags: Posted in Global |

New York headlines

April 21, 2011 11:53 am by beyondbrics
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* Brazil raises rates to 12%

* Gold pierces $1,500 to set fresh high

* India’s 2010/11 exports surge to record growth

* China: Income tax rate under review

* Indian court rejects bail pleas for Reliance ADAG, Unitech, DB Realty execs

* Telenor asks India partner’s chief to step down after arrest Continue reading »

Posted in Global |
From Gideon Rachman's blog April 21, 2011

An Egyptian anti-government demonstrator and a member of the Egyptian Muslim Brotherhood movement prays in front of Egyptian soldiers at Cairo's Tahrir square on February 7, 2011 on the 14th If you find the Muslim Brotherhood in Egypt confusing, I suspect that is entirely intentional. The Brotherhood is now the largest organised political force in Egypt, but it currently operates from ramshackle offices in a Cairo suburb. It has sweeping ambitions and a grand vision for the entire Middle East. But it has promised not to seek a majority of seats in the coming parliamentary elections in Egypt or to run a candidate for president. Continue reading »

Posted in Egypt |

Further reading: Medvedev dances

April 21, 2011 9:19 am by beyondbrics
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Thursday’s best picks from the beyondbrics team: how local Chinese governments are escaping real estate controls and pushing up land prices, why more than 50 per cent of China’s rich are considering leaving the country,  and how Hungary is disgracing Europe.

Just for fun: video of Medvedev dancing up a storm.

Continue reading »

Posted in Global |

Indonesia’s social networks: poking around for profits

April 21, 2011 8:00 am by Kanupriya Kapoor
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Little-known fact: Indonesia is home to the world’s second-largest Facebook user base.  It’s also the No.3 most active on Twitter.  So Mark Zuckerberg, not to mention the social networking world’s other fresh-faced moguls, must be licking their lips, right?

Well, no. Despite a booming economy, Indonesia’s social networks are struggling to make a profit – primarily because of the way Indonesians use the internet. Continue reading »

Tags: , Posted in Indonesia |

Boom vs Doom: is Nouriel Roubini right on China?

April 21, 2011 7:00 am by Jamil Anderlini
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It probably comes as no surprise that Nouriel Roubini – also known as Dr Doom – is bearish on China and its current growth model. Based on “two trips” to China recently the good doctor has come up with a devastating prognosis.

So is the man famous for predicting the downfall of the US housing market and subsequent global credit crisis about to notch up a second nostradamus award? Continue reading »

Tags: , , Posted in China |

Brazil interest rates: analysts get it wrong, again

April 21, 2011 6:14 am by Samantha Pearson
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Once again, the market has been proved savvier than economists.

Brazil’s central bank announced late on Wednesday it would raise the country’s benchmark interest rate by 25 basis points to 12 per cent. Continue reading »

Tags: , Posted in Brazil, LatAm |

Guest post: Making India’s double-digit dreams come true

April 21, 2011 5:30 am by beyondbrics
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By Leif Eskesen at HSBC

India is a rising global economic power. Growth has increased steadily over the past few decades, pushing up India’s share in the global economy from around 2.5 per cent in 1980 (at purchasing power parity-adjusted exchange rates) to around 5 per cent today. Moreover, India’s economy has been among the fastest growing in the world in recent years.

India has the potential to grow even faster, but this calls for more structural reforms. Continue reading »

Tags: , , , Posted in India |

London headlines

April 21, 2011 5:19 am by beyondbrics
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* Gold pierces $1,500 to set fresh high

* India’s 2010/11 exports surge to record growth

* China: Income tax rate under review

* Indian court rejects bail pleas for Reliance ADAG, Unitech, DB Realty execs

* Telenor asks India partner’s chief to step down after arrest Continue reading »

Posted in Global |
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