Daily Archives: July 26, 2011

Chilean miners have been restless lately. First, it was the almost miraculour rescue of “the 33“. Then in January a month-long strike at Collahuasi, the world’s third largest copper mine, was the longest-ever at a major private mine in the South American country. Earlier this month, Chileans saw the first strike in nearly 20 years at Chile’s state-owned copper miner, Codelco. Now, strikers at Escondida, the world’s biggest copper mine, are entering their fifth day of stoppages, boosting concerns about supply and causing copper prices to spike in London. Continue reading »

Peruvian singer Susana Baca performs during the OFF-Fest four-day music festival held in the Macedonian capital Skopje, 06 June 2004.Peru is to have its first black minister in almost 200 years with the appointment of renowned Afro-Peruano singer Susana Baca to the culture portfolio. Baca, 67, has won global acclaim for her music, which mixes African and Andean rhythms, and for her work in preserving the cultural heritage of Peruvians descended from slaves.

While Peru’s future obviously won’t hinge on the culture ministry, Baca could be a powerful voice for Peru’s marginalised.  Continue reading »

An Indian woman (L) is watched by a security guard as she enjoys a cigarette while looking at her mobile telephone on a pavement in New Delhi, 03 May 2004Good product marketers never miss an opportunity to sell. In India, they have discovered their newest target: the increasingly prosperous Indian woman.

The average yearly income of an urban Indian woman has doubled over the past decade, according to IMRB, a Mumbai-based market research organisation. So now that urban women have both high aspirations and a bigger budget to match, it’s no wonder consumer goods manufacturers are making a beeline towards them.

Continue reading »

An ominous note on Monday from the always readable Chris Weafer of ING. August, he writes, is the most fear-filled month of the year for many Russians. It was the month Russia defaulted on its domestic debt, for example – and the month Ivan the Terrible was born.

Investors approach the month with caution, even though August events, Weafer notes, have never had a short-term impact on Russia’s stock markets. But they do have a habit of shaping trends – and even providing catalysts for long-term opportunities. Continue reading »

Dubai is again aflutter with gossip over a new power shift in the debt-laden emirate, which saw multiple management changes in 2009 as it tried to come to terms with a debt pile of $110bn.

As the FT reported on Monday night the ruler of Dubai replaced Ahmed Humaid al-Tayer (pictured) as governor of the Dubai International Financial Centre, the emirate’s offshore financial centre and a significant strategic asset. That came shortly after he was dropped as chairman of Emirates NBD, the United Arab Emirates’ largest bank. Continue reading »

The Greeks may be in an economic mess but their beaches aren’t losing their charm – at least not for east European tourists.

While the number of tourists coming from Germany, France, UK and other western European countries has declined, eastern Europeans are arriving en masse. Continue reading »

Weight-loss summer camp in Tianjin, China on August 22, 2006-Overweight and obese Chinese kids at Aimin fat reduction hospital in Tianjin near Beijing. Everyone knows China is good at copying things Western – like handbags and iPods and even whole Apple stores – but increasingly, the Chinese are aping the worst aspects of Western culture, along with jeans and electronics. Increasingly China is copying the diseases of capitalism, like heart attacks, strokes, cancer, and diabetes.

According to a report today from the World Bank, the Chinese Ministry of Health and the World Health Organisation, “Toward a Healthy and Harmonious Life in China: Stemming the Rising Tide of Non-Communicable Diseases”, China is experiencing an “epidemic” of non-communicable diseases – the kind that the third world poor (with their malaria and malnutrition) can only dream about. Continue reading »

India rates hike 50bps, more than expected

Chinese fighter jets ‘repel’ US aircraft

Raja drags Manmohan Singh into 2G spectrum trial

India signs nuclear deal with South Korea

ING sells Latin American insurance operations Continue reading »

Latvia demonstratesWhen Latvia’s then-president Valdis Zatlers called in May for a referendum to dissolve parliament, many thought he was committing political suicide.

Fast forward two months and Zatlers is firmly back in the political game, at the head of a new party. But the self-proclaimed progressive reformer’s resurgence has been accompanied by other developments that are unsettling investors. Continue reading »

Clerks work in the Eurodollar pit at the CME Group following news from the Federal Open Market Committee (FOMC) meeting concerning short-term interest rates January 27, 2010This year hundreds of small and medium-sized Chinese companies with stock market listings in North America have seen their prices hit by a wave of scandals and de-listings.

In today’s FT, Jamil Anderlini profiles one man who is facilitating Chinese groups’ dream of raising money from US investors, and another man who is short selling these stocks once they are listed. More below the page break. Continue reading »

Tuesday’s top picks from the beyondbrics team: the path of transition in Libya, why the world should help central America fight the drugs war, what Russian media and Gazprom have in common and a plea to get Indian women back on bikes. Continue reading »

Indians, first runner-up Rani, winner Bobby, second runners-up Ritu and Aparna pose after the finalsthe 'Indian Super Queen' beauty paegant for the transgender community in Mumbai on FebHow do you know when you’ve arrived at the global high table? One way, apparently, is to get a bunch of government economists to compile an Index of Government Economic Power.

That’s what India has done, anyway. And the results, showing how the country climbed the global pecking order during the past decade, are impressive. India, the economists discovered, has more economic clout than the UK or France, and will soon overtake Germany among the world’s big hitters. Continue reading »

An employee at the General Electric Co. healthcare unit's production facility works with medical X-ray devices in Beijing, China, on Friday, July 22, 2011. In a sign of the growing importance of fast-growing emerging markets, GE Healthcare has decided to move the global headquarters of its 100 year old X-ray business from Waukesha, Wisconsin, to Beijing, China.

OK, so the move only involves shifting four actual employees and will not result in any layoffs in the Wisconsin office but the four relocated employees are probably the most important ones in the unit – the general manager, CMO, CFO and vice-president for HR. Continue reading »

The Reserve Bank of India has raised interest rates by 50bps to bring the benchmark lending rate to 8 per cent. The market had been looking for a 25bps increase.

Indian markets reacted badly to the news – with the Bombay market dropping 1.5 per cent within minutes of the announcement.

* Chinese fighter jets ‘repel’ US aircraft

* Raja drags Manmohan Singh into 2G spectrum trial

* India signs nuclear deal with South Korea

* Economic climate still ‘challenging’: GIC

* Dow Chemical and Aramco in $20bn venture Continue reading »

Global equities macromap

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240p The new offer for Cove Energy shares from PTT, trumping the bid from Shell.

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