Daily Archives: April 25, 2011

Will Minmetals Resources counterbid or not? That is the question that many in the market must be asking after Canada’s Barrick Gold gatecrashed the state-owned Chinese miner’s bid for Equinox Mineral, the Australian-Canadian copper miner.

In a deal that underscores the global scramble for commodities as the price of gold, silver and other metals soar, Equinox, a second-tier miner with a single copper mine in Zambia, on Monday agreed to sell itself to Barrick for C$7.3bn ($7.66bn). Continue reading »

Rapid urbanization – and booming infrastructure development projects that follow – has led to India becoming the second-biggest market for elevators globally, second only to China.

And India’s demand for elevators is only going to keep growing, according to Connecticut-based Otis Elevator Company. One of the world’s largest manufacturers expects the Indian market to grow to 70,000 units annually over the next three years from 50,000 now. Continue reading »

Lent, which is associated with penance and mortification in a predominantly Catholic Philippines, is over. But not for investors who bought San Miguel shares ahead of the food and drinks giant’s $900m sale of shares and bonds.

Investors who piled into the stock early, continue to be punished for being too quick to snap up over-hyped, and what now looks like over-priced, shares.

Continue reading »

The past two years of improving relations between China and Taiwan have already delivered a number of firsts. Monday provided another historic moment when Chinese and Taiwanese banking regulators met for the first time ever, in Taipei.

Despite past political tensions, enterprising Taiwanese had long been doing business in China. However, it was only until after a financial memorandum of understanding was signed in 2009 that Taiwanese banks were able to follow suit. Continue reading »

By Tom Mitchell in Monday’s FT

Last year, auto workers in southern Guangdong province warned the world not to take cheap Chinese labour for granted when they successfully agitated for higher wages in a series of industrial actions.

Last week, Shanghai truckers reinforced that message with a strike of their own. Continue reading »

Samsung Electronics HQ March 2011South Korea’s big conglomerates may soon close down their tofu and red-pepper paste businesses as the government prepares to designate SME-only businesses to protect small and mid-sized companies.

The big family-run business groups called chaebol will be pressured to exit traditional food production markets that the government finds suitable for SMEs . Continue reading »

* Syria deploys tanks in Deraa

* Shanghai offers fee cuts to defuse strike

* Chinese building boom lifts Kone

* Standard Bank eyes foreign disposals

* India’s Jain plans first factory in Africa Continue reading »

All that glitters is gold, and silver… at least that’s what the market thinks. The price of spot silver jumped 5 per cent to hit $49 a troy ounce, and gold hit a record high for the seventh consecutive session, at $1,517.71 a troy ounce in early trading on Monday. Meanwhile, the US dollar fell to a three-year low.

According to reports from Reuters, much of the interest looks to be coming from India and China. Continue reading »

Monday’s best picks from the beyondbrics team: how Macao is outstripping Vegas, Russia’s bulldog fight under the rug. And, can Cuba’s leadership rooted in the revolution pull off a profound shift? Continue reading »

* Shanghai offers fee cuts to defuse strike

* Chinese building boom lifts Kone

* Indian hotels seek to meet guests’ demands

* China Approves Everbright Bank Listing in Hong Kong Continue reading »

Global equities macromap

Number of the day

12.4% Fall in Mail.Ru shares on Monday, on the back of its Facebook stake.

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