Daily Archives: June 27, 2011

Boudou: Cristina’s “Loved One”

June 27, 2011 8:35 pm by Jude Webber
Share
Share this on

When Cristina Fernández, Argentina’s president, anointed her economy minister as running mate for the October elections, she was stamping her mark firmly on the political landscape and what is widely expected to be her second term.

That might sound strange – surely a president is already in charge? Yes, but Ms Fernández’s Front for Victory party is just one of many factions within the often unwieldy Peronist machine, which spawns many ideologies but has in recent years been close to the labour unions and the workers whom Ms Fernández’s “model” vows to defend. Continue reading »

Tags: Posted in Argentina, LatAm |

Magyar Telekom and the Balkans: tough nuts to crack

June 27, 2011 7:59 pm by Kester Eddy
Share
Share this on

When Magyar Telekom, under its earlier name of Matav, moved into the Balkans after the turn of the millennium, the rationale was straightforward enough. As a former communist-era monopoly turned around under the hand of majority owner Deutsche Telekom in the previous decade, the Hungarians were well-quipped to do a similar restructuring job on incumbents in the Yugoslav successor states. Continue reading »

Tags: , Posted in Europe, Hungary |

Russia lifts grain export ban (for now)

June 27, 2011 6:49 pm by Isabel Gorst
Share
Share this on

Russia will lift a ban on grain exports this week signaling the return of one of the world’s biggest wheat suppliers to the world market after an absence of almost one year. However, government warnings that fresh export restrictions may be imposed in the coming months are causing jitters among the nation’s grain farmers and traders. Continue reading »

Tags: , Posted in Europe, Russia |

Egyptian construction: short of orders

June 27, 2011 6:33 pm by Heba Saleh
Share
Share this on

Egypt ConstructionUnder Hosni Mubarak, Egypt’s construction companies did well from a stream of public sector contracts.

With the former president under investigation and his regime in tatters, one of the country’s most dynamic industries is in the doldrums, its future blighted by the political and economic instability. Continue reading »

Tags: , , Posted in Africa, Egypt |

Nissan: More China please

June 27, 2011 6:04 pm by Pan Kwan Yuk
Share
Share this on

Emerging markets have been good for Nissan. So good in fact that the Japanese carmaker is going back for seconds.

On Monday, Nissan unveiled an ambitious six-year growth plan to boost its share of the global car market and, not surprisingly – much of the hoped-for growth is expected to come from countries like China. Continue reading »

Tags: , Posted in Asia, China |

Orban to Wen: your business welcome

June 27, 2011 5:00 pm by Kester Eddy
Share
Share this on

Viktor Orban, the Hungarian prime minister, and Wen Jiabao appeared the best of long-time friends after the Chinese premier’s visit to Budapest this weekend. Orban waxed lyrical about the warm relationship and possibilities for cooperation between the two countries, and beamed with pride as a dozen agreements were initialled by various parties in the two countries’ delegations.

On the surface Orban has reason to. The agreements could make Hungary the preferred gateway for Chinese goods to central and eastern Europe, and create thousands of jobs. At least that is the Magyars’ hope. Continue reading »

Tags: , , Posted in Hungary |

L’Occitane in Asia: healthy glow

June 27, 2011 4:20 pm by David Andani
Share
Share this on

L'Occitane annual results, EMsCosmetics company L’Occitane has been an EM fan for a while. Choosing to IPO in Hong Kong rather than Paris (and being the first French company to do so) was a clear sign.

The EM drive is paying off.  L’Occitane attributed Monday’s impressive annual results largely to the company’s presence in the developing world. Continue reading »

Tags: , Posted in Asia, Global |

India: fuel price hike may boost reform

June 27, 2011 3:48 pm by James Lamont
Share
Share this on

Indian protestors object to fuel price hikesIn a season characterised by paralysis in New Delhi, a fuel price rise is a vital sign.

Corruption has so dominated the narrative out of India this year that economic reform measures have largely been swept aside. Even seemingly straightforward moves to introduce a direct tax code and goods and services tax have run into trouble. Continue reading »

Tags: Posted in India |
From Westminster blog June 27, 2011

Downing Street have announced £1bn of trade deals between China and the UK today.  But this figure is somewhat caveated. 

So what are the concrete deals being agreed today?There’s £1m of exports of breeding pigs to China, which may sound familiar to those who read about the prime minister’s trip to China last November. And there is the promise to open the “poultry market”. High stakes stuff. Continue reading »

Tags: Posted in China |

Belarus: fill up for dollars

June 27, 2011 2:23 pm by Stefan Wagstyl
Share
Share this on

Belarusian motorists fill upIt’s back to the future for Belarus. As he grapples with his latest economic crisis,  president Alexander Lukashenko has banned foreign drivers from paying for fuel with Belarusian roubles – and ordered them instead to pay in foreign currency.

It’s all spookily reminiscent of the dying days of the Soviet Union and the chaotic first years of post -Communism.  For nostalgia tourists, another reason to visit Belarus. For Belarusians,  another scene in Lukashenko’s economic nightmare. Continue reading »

Tags: , Posted in Belarus |

Russian privatisations: more to come

June 27, 2011 2:17 pm by Neil Buckley
Share
Share this on

Some of Dmitry Medvedev’s recent pledges to liberalise Russia’s political and economic system have already come to little. Two days after the Russian president said he wanted pro-market parties in parliament, authorities barred a promising independent liberal party from coming elections. But there are signs of progress on another of his proposals: broadening Russia’s existing $32bn privatisation programme. Continue reading »

Tags: , , , Posted in Europe, Russia |

Goldman Sachs: Brics soon to be in G7

June 27, 2011 1:26 pm by Alexandra Stevenson
Share
Share this on

bullseyeEven the world’s most bullish investment bank didn’t see this one coming so soon.  The collective GDP of all four Bric countries is set to overtake that of the US by 2013 according to Goldman Sachs, whose Jim O’Neill first christened the group in 2001.

In a monthly note to investors, the bank also said Bric GDP is now worth 75 per cent of US GDP. That sum, in case you’re wondering, is US$11,200bn.

Continue reading »

Tags: Posted in Global |

New York headlines

June 27, 2011 12:01 pm by beyondbrics
Share
Share this on

* Economic growth must slow, warns BIS

* China is a long-term investor in EU bonds: Wen

* India raises diesel, cooking fuel prices

* Huawei bets big on India, eyes entry into new verticals

* China moves to improve accountancy industry Continue reading »

Posted in Global |

EM inflation: watch out, says BIS

June 27, 2011 11:39 am by Stefan Wagstyl
Share
Share this on

Dollars and yen piling upWith developed world central bankers seemingly still committed to loose monetary policy, their club, the Bank for International Settlements, has come along with a heartfelt reminder of the risks they may be running.

“Many of the challenges facing us today are a direct consequence of a third consecutive year of extremely accommodative financial conditions,”  says the BIS annual report.  And emerging markets are right at the heart of the argument: flooded with the cash that the rich world is generating, they face similar dangers to those that hit Europe and North America in the global crisis. Continue reading »

Tags: Posted in Global |

Further reading: Vanity fair

June 27, 2011 10:51 am by beyondbrics
Share
Share this on

Monday’s top picks from the beyondbrics team: How cosmetics groups are flourishing from Indians’ preference for fair skin and what is going wrong with Russian IPOs. Elsewhere London mayor Boris Johnson reveals why Chinese premier Wen Jiabao might approve of Shakespeare’s politics. Continue reading »

Posted in Global |
BackOlder entries

Global equities macromap

Number of the day

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

beyondbrics

The emerging markets hub

About this blog Headlines email Blog guide
News and comment from more than 40 emerging economies, headed by Brazil, Russia, India and China.



'Like' our beyondbrics Facebook page, where we showcase a top story of the day
Sign up for our news headlines and markets snaphot service. We have two emails per day - London and New York headlines (sent at approx 6am and 12pm GMT).

To comment, please register for free with FT.com and read our policy on submitting comments.

There is an overall beyondbrics RSS feed, as well as feeds for all our countries, tags and authors. Learn more in our full RSS guide.

All posts are published in UK time.

Get in touch with us - your comments, advice and even complaints. Find out how to contact the team.

See the full list of FT blogs.

BB shortcuts

Regulars Series Archive
Chart of the week
Behind the numbers

Fund flows
Tracking money in and out of EM bonds
12 for 2012
Guest posts on key trends for the year ahead

Brics at 10
A decade of growth
The Diaspora Digest
EM diasporas, seen through their community media (Oct-Nov 2011)
Sick brics (Sep 2011)
Brics and mortar (Aug 2011)
Beyondbrics on the beach (Jul-Aug 2011)
China bubble? (June 2011)
Post-election Nigeria (June 2011)
Hey bric spender (Aug 2010)

Emerging markets data

Archive

« May Jul »June 2011
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  

What we are writing about

Apple banking bonds Brazil economy Brics CEE China economy commodities consumer corruption currencies currency war debt energy equities eurozone crisis exports food & drink guest post Hugo Chávez IMF India economy inflation interest rates internet investment IPOs M&A manufacturing mining monetary policy oil & gas politics Repsol retail Russian elections Russian politics tax technology telecoms trade vehicles video World Bank YPF