Daily Archives: June 2, 2011

Social projects in emerging markets are eminently worthy, especially in Latin America, which can boast about many things at the moment but not about being the continent with the world’s biggest wealth gaps.

How to make them make commercial sense is far more challenging, and that is the mission of San Francisco- and Santiago-based Nonprofit Enterprise and Self-Sustainability Team (NESsT). The non-profit organisation is holding meetings this week in Chile and Hungary, the two countries where it began supporting social entrepreneurs nearly 15 years ago, to raise the profile of sustainable social entrepreneurship – especially among deep-pocketed venture capitalists. Continue reading »

In Friday’s Lex column:

Even Stalinists are living beyond their means these days. In Belarus, a financial bubble largely created by its hardline president, Alexander Lukashenko, has finally burst. The currency has been devalued by 36 per cent; there are reports of panic buying in shops. Minsk has now turned to the International Monetary Fund, seeking between $3.5bn and $8bn of emergency funding. The IMF should deal with Mr Lukashenko despite his odious political record, but only if he agrees to loosen his grip on the economy. Continue reading »

The town of Koper hopes to beneift from increased tourism as Slovenia joins the passport-free zone in Europe on Friday December 28, 2007.The Port of Koper, Slovenia’s key maritime outlet on the Istrian Peninsular in the northern Adriatic, is not exactly attractive when approached by boat. Sure, there is a marina and glimpse of the old town, but a vista dominated by cranes, containers and utilitarian dock machinery greets all passenger ships about to berth.

However, encouraged by rising demand from cruise companies, the good folk of Koper have been busy of late, sprucing up the previously neglected passenger terminal with a good lick of paint and dredging the approach channels, all part of a €1.6m project to accommodate bigger cruise liners. Continue reading »

By Paul Louie,  head of property research for Asia ex-Japan at Nomura

Back in 1998 in the aftermath of the Asian Crisis, Hong Kong embarked on an ambitious quest to become a “World City” in the same fashion as New York and London. It highlighted human capital and the living environment as pivotal to its development. Now, 14 years after the 1997 handover, the focus is not on whether Hong Kong has succeeded in that quest but on home prices, which are almost back to 1997 highs. Observers now say: Hong Kong has another property bubble on its hands.

But if Hong Kong has turned itself into a World City, is it so surprising that home prices are up around 1997 highs? Continue reading »

Indian retailThere have been years of deliberations over allowing foreign companies to enter multi-brand retail in India. But it is only in the past few weeks that a voluble consensus seems to have emerged.

Many in government now believe liberalisation is the only way to secure much-needed investment to support India’s farm sector and tame persistently high food inflation. As the consensus has strengthened, the first signs of what the policy may look like have emerged, too. But don’t hold your breath. There is still no indication of when proposals will go to the cabinet for approval. Continue reading »

By Mujtaba Rahman, Europe analyst at Eurasia Group

While much of the mainstream debate regarding the EU’s sovereign debt crisis has focused on the core (creditor) and peripheral (debtor) countries, less attention has been paid to the implications for central and eastern Europe, despite important political/policy shifts that are taking place across the region well below the radar. Continue reading »

Annual inflation has hit 20 per cent and rising, the trade deficit is widening and the first signs of financial distress are appearing in the real estate sector. But the worst of Vietnam’s latest bout of macro-economic instability is behind it, according to the World Bank.

At a briefing in Hanoi on Thursday, Deepak Mishra, the World Bank’s lead economist in Vietnam, argued that the country was now “on a declining path of instability”. Continue reading »

If you’d read just the headlines, you might think Cairo and Tunis would be getting nearly $40bn in support from abroad in the coming months and years.

But yesterday’s news of a new budget proposed in Cairo and warnings from Hilary Clinton, US secretary of state, about Egypt’s political development are stark reminders of why that full $40bn might not make it to north Africa. Continue reading »

Thursday’s best picks from the beyondbrics team: why China’s market looks seriously overvalued, and how the Indian attitude that girls are inferior to boys has soaked in over the centuries.

Also, a man in southern China holds own daughter at knife point after traffic accident. Continue reading »

* Russia bans European vegetable imports

* China rejects Google’s e-mail hack claims

* Egypt raises taxes to ease poverty

* Huawei to help boost Airtel’s Africa network

* Gazprom in long-term LNG deal with India’s Petronet Continue reading »

Hui Xian Real Estate Investment Trust chairman Kam Hing-lam (C) toasts with Hong Kong Stock Exchange chairman Ronald Arculli (L) toasts Hui Xian's initial public offering (IPO) Citigroup on Thursday became the latest bank to form a joint venture with a Chinese brokerage, in this case Orient Securities. It will allow Citi to underwrite stock and bond issues in China.

With major global banks crowding at the gate for a slice of the Chinese IPO market, the timing couldn’t be better. But a handful of international banks have already set up similar ventures. Is Citigroup a little late to the game? Continue reading »

This is the fifth in a beyondbrics series on bubbles in the Chinese economy

Few advanced nations in the developed world have hitched a ride on the tails of the Red Dragon to the same degree as Australia.

The Wonder from Down Under, now in its 20th year of uninterrupted growth, shares an increasingly intimate trading relationship with China that eclipses all others. Continue reading »

Chinese stocks fell 1.4 per cent on Thursday to a four-month low, taking a battering from all sides: gloomy manufacturing and employment data from the US; a three-notch downgrade of Greek debt by Moody’s; and rumours of an impending interest rate hike from Beijing.

The Shanghai Composite Index lost 1.4 per cent to 2,705.18, its lowest since January 25. The MSCI AC Asia Pacific ex Japan Index was down 1.8 per cent at 09:10 BST. Continue reading »

* Google claims e-mail breach in China

* Egypt raises taxes to ease poverty

* Huawei to help boost Airtel’s Africa network

* Gazprom in long-term LNG deal with India’s Petronet Continue reading »

It’s been an embarassing couple of months for Bradesco, Brazil’s third-largest bank.

Back in March, Chief Executive Luiz Carlos Trabuco Cappi gave an interview to the FT in which he said he was confident of two things: winning a bid to buy a stake in Carrefour’s local finance arm and extending Bradesco’s contract with Banco Postal, the country’s chain of post office banks.

In Brazil’s cut-throat banking sector, where acquisition opportunities are like gold dust, both deals were a vital way to speed up Bradesco’s organic growth. Continue reading »

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

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