This week on beyondbrics:
Mexican telecom titans do battle; tragedy in Brazil raises doubts about international sporting events; a furious reaction to Megaupload’s shutdown in Brazil; Egyptian stocks get a much-needed kick; the IMF warns Hungary not to take chances; Apple messes up in China; and Africa gets some welcome attention. Read more
Eastman Chemical is going east. The specialty chemical maker, which was spun off from Kodak in late 1993, on Friday said it has agreed to buy rival Solutia for $3.4bn as it looks to ramp up its presence in fast growing emerging markets – in particular China.
But is its leap into the China bandwagon too little, too late? After all, it was only this week that DuPont, the US chemical company that is widely considered a bellwether for the health of the global economy, warned of a sharp drop-off in Asian demand. Read more
Venezuela’s debt has soared to historic highs lately on bets that a reinvigorated opposition might stand a chance against the electorally formidable Hugo Chávez.
But investors might want to think again, if the latest poll numbers out of Caracas are anything to go by.
Were the presidential elections to be held today, Chávez would win with 50 per cent of the vote, while the opposition candidate would trail behind with 34 per cent, according to local pollster Hinterlaces. Read more