Daily Archives: May 10, 2011

Americas market wrap

May 10, 2011 8:13 pm by Anora Mahmudova
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Latin American markets rose sharply on Tuesday, as strong trade data from China helped boost optimism about the global economy. China recorded a large trade surplus in April as imports of commodities and raw materials slumped and exports surged. The MSCI Latin America index rose 1.2 per cent to 4,467. However, gains in the major regional indices were not as robust to make a significant rebound from recent lows.

Region’s currencies also firmed against the US dollar, led by Brazil’s real, as investors’ expections that China’s economy will continue its growth and US and European interest rates will remain low.  Continue reading »

Posted in Global, LatAm |

Indian energy: running out of gas

May 10, 2011 6:32 pm by Akanksha Awal
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Energy use in non-OECD Asia, led by China and India, is growing faster than anywhere else in the world – it will more than double between 1990 and 2035,  according to a report by the US Energy Information Administration published in April.

But how will India deal with escalating demand? A separate report by Sanford C. Bernstein, the global sell-side research firm, suggests it will struggle to do so, as price-capping measures stifle private investment in natural gas. Continue reading »

Tags: , , Posted in Asia, India |

Hungary: the next Hollywood?

May 10, 2011 5:32 pm by Kester Eddy
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The set of a New York city street from the Hollywood Production 'Hell Boy 2,' shot at Korda Studios, stands in Etyek, Hungary, on Thursday, July 3, 2008.Export-oriented industry apart, the Hungarian economy is in a rather anaemic state compared to its peers, with expansion this year expected at around 2.5 per cent – almost entirely due to the export sector.

But one unit in the film industry is doing its bit to boost the lagging economy. Continue reading »

Tags: Posted in Hungary |

Croatian shipyards: sink or swim

May 10, 2011 5:04 pm by Neil MacDonald
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An eco-fuelled catamaran meant to ply the Thames in time for the 2012 London Olympics will give the world a badly-needed reminder about Croatian shipbuilding prowess – badly-needed, that is, by the troubled shipyards on the Adriatic coast.

They must boost their presence in international markets because they can no longer count on state subsidies as Croatia jumps through the final hoops to join the European Union. Continue reading »

Tags: Posted in Croatia, Europe |

Russian banking goes digital

May 10, 2011 1:19 pm by Courtney Weaver
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Hold onto your hats: the digital revolution is about to hit the Russian banking sector.

After centuries of allegiance to bureaucracy’s favourite invention – paper – Russian banks may soon switch to preserving many records in electronic format only. While critics have warned that the change could make it easier for banks to destroy unsavoury documents, it’s unlikely their arguments will get much traction: according to government estimates, the measure would save each of Russia’s biggest lenders millions of dollars a year. Continue reading »

Tags: , , Posted in Europe, Russia |

HTC: still flying high?

May 10, 2011 12:30 pm by Robin Kwong
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There’s little doubt that Taiwan’s HTC, which grew out of an unknown contract manufacturer into a bigger company than Nokia, is good at designing and making phones.

Now, with its first tablet PC, the HTC Flyer, hitting stores in Taiwan on Tuesday, HTC will have to prove that it can make more than just phones. Continue reading »

Tags: Posted in Taiwan |

Philippines: nice rice crop

May 10, 2011 11:59 am by Roel Landingin
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Farmer gathers harvest in the PhilippinesWhen the Philippines, the world’s biggest rice importer last year,  announced on Tuesday that paddy rice output rose by 15.6 per cent in the  first quarter from a year ago, it looked like a case of the country bouncing back from a drought-hit harvest in 2010.

But to agriculture secretary Proceso Alcala the good 2011 summer harvest is more than a return to normalcy: it’s a sign the Philippines is well on its way to rice self-sufficiency by 2013. Continue reading »

Posted in Philippines |

New York headlines

May 10, 2011 11:52 am by beyondbrics
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* China has bigger-than-forecast $11.4bn trade surplus

* US and China spar on rights, soften tone on economy

* Egypt inflation jumps to a year high on food prices

* Superport is Brazil’s new route to China

* Serco in talks to buy stake in India’s Intelenet Continue reading »

Posted in Global |

Chinese cars: applying the brakes

May 10, 2011 11:21 am by Alexandra Stevenson
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Automakers looking for tailwinds in the Chinese market will have to get used to a light breeze this year.

Sales of cars in China grew by 8 per cent from January to April this year, according to the China Association of Automobile Manufacturers (CAAM), marking a big slowdown from growth in the same period last year – a whopping 71.8 per cent. Is this the end of the China car boom?  Continue reading »

Tags: , Posted in China |

Further reading: contango’d

May 10, 2011 9:20 am by beyondbrics
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Tuesday’s best picks from the beyondbrics team: Facebook should think before it vaults China’s firewall, why Putin is not Superman, and what Delhi will look like in four decades.

And Gideon Rachman asks, is the Arab spring the best thing to have happened in a lifetime or the most dangerous? Continue reading »

Posted in Global |

China: surplus doesn’t go away

May 10, 2011 8:47 am by Stefan Wagstyl
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What to make of China’s April trade surplus coming out four times bigger than the consensus forecast? The $11.4bn number is too big to ignore, even if it is only one month’s data.

Exports rose 29.9 per cent year-on-year – dead in line with predictions. But import growth was well below expectations at 21.8 per cent. The good news is that global demand remains pretty firm. The bad news is that China’s economic rebalancing may take even longer than Beijing’s cautious leaders would wish. US and Chinese officials holding bilateral talks in Washington this week have plenty on their plates. Continue reading »

Tags: , Posted in China |

Guest post: US-China – marking time

May 10, 2011 6:45 am by beyondbrics
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N.Consonery, Eurasia GroupBy Nick Consonery of Eurasia Group

The US faces an uphill battle in achieving big new trade or economic liberalisation deals with China at the Strategic and Economic Dialogue (S&ED) this week.

This round of talks is overshadowed by Chinese President Hu Jintao’s visit to Washington just four months ago, when substantive success was made -  in the form of an agreement that Beijing would delink its practices for boosting indigenous innovation from government procurement. So Washington negotiators will exert more energy pushing Beijing to implement that promise than on pressing for new breakthroughs. Continue reading »

Tags: , , , , Posted in Asia, China |

London headlines

May 10, 2011 6:01 am by beyondbrics
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* China has bigger-than-forecast $11.4bn trade surplus

* US and China spar on rights, soften tone on economy

* Pressure put on Pakistan army

* Superport is Brazil’s new route to China

* Serco in talks to buy stake in Intelenet Continue reading »

Posted in Global |

Peru: markets follow political polls

May 10, 2011 2:39 am by beyondbrics
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By Lucien Chauvin in Lima

Peru’s financial markets continue to fluctuate wildly as different polls show the June 5 run-off race for president tightening.

The Lima Stock Market’s general index was up 5.48 per cent on May 6, largely as a result of polls showing a much smaller gap between left-wing Ollanta Humala and populist Congresswoman Keiko Fujimori. The bourse was down 0.94 per cent on Monday, with one new poll by Ipsos Apoyo, released the previous night, giving the congresswoman a two-point lead, 41 to 39 per cent, while others had Mr Humala with a slight lead. Continue reading »

Tags: Posted in Peru |

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