Now the easing cycle has begun, the big question is whether it will continue. The bank’s statement was ambiguous. More cuts, the bank made clear, will depend on how inflation pans out. It said in its monthly communiqué: Continue reading »
Nigeria’s nationwide strikes are going strong for a fourth day – and as oil workers threaten to shut down production from Sunday, investors in Africa’s most populous country should be wary.
That, at least, is the view of Helima Croft and other analysts at Barclays Capital. Violence is not a new phenomenon in Nigeria, they say – but this time, Nigeria faces twin threats: the mass protests sparked by the withdrawal of a fuel subsidy at the start of the year, and the rise in casualties of religious conflict over the past week. Taken together, doubts must be raised about the country’s political stability. Continue reading »
Sometimes beating market expectations with a 33 per cent increase in net profits just isn’t enough.
India’s second-largest software company, Infosys, found that out on Thursday when its shares closed down 8.4 per cent despite a rise in profits to 23.72bn rupees ($459m) in the quarter ending December, year-on-year, and a 31 per cent rise in revenues, to 93bn rupees ($1.8bn), on the back of an 11 per cent depreciation of the rupee Continue reading »
The forint gained another 1 per cent on Thursday to Ft308 to the euro amid growing hopes that Budapest will manage to strike a deal with the European Union and International Monetary Fund.
The increasing optimism helped the government pull off a successful bond auction, selling 10-year paper at 9.38 per cent, compared to 9.70 per cent in late December. Bloomberg said it was the first drop in yields for 10-year bonds since September. That’s good news for Budapest. But there’s still some way to go before a deal is done. Continue reading »
But investors still seem to think something is up. At 2.30pm Milan time, the shares were trading 8.3 per cent up on the day. That’s down from the 15.6 per cent peak they hit just before Samruk-Kazyna issued its denial – but it’s still a sizeable gain on a day when the Italian market is just 2.4 per cent higher. Continue reading »
The room full of cubicles at Sitel’s new call centre may look sterile at first glance. Yet it buzzes with conversations conducted in five languages as around 20 newly-hired customer care agents handle calls from seven European countries. Continue reading »
While China’s headline inflation rate fell again in December to 4.1 per cent, a small rise in food prices suggests the inflation battle is not yet over. Cui Li, chief China economist at RBS, talks to Josh Noble of beyondbrics.
Shares in UniCredit, the beleagured Italian bank with extensive operations in eastern Europe and the former Soviet Union, rose over 7 per cent on Thursday on an Italian newspaper report that oil-rich Kazakhstan’s wealth fund had bought a stake of nearly 5 per cent.
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