Daily Archives: Mar 10, 2012

This week on beyondbrics: Putin’s election win cheers investors – but not for long; and the twitter reaction; Brazil’s disappointing growth resembles the flight of a chicken; why the country’s GDP figures matter; EM markets drop as China cuts its growth target; Egypt’s foreign reserve woes ease a bit; why LatAm bond issuers are looking to the Midwest and Africa’s biggest bank refocuses its strategy.  Read more

It’s one of those stories that beggars belief. Vale, Brazil’s mining giant which is largely controlled by state institutions, is being chased by the government for nearly R$30.7bn ($17.4bn) in back taxes.

The dispute began around a decade ago but every time the issue gets to another juncture in Brazil’s labyrinthine legal system (as it did this week), the story makes the headlines once again and the shares take a hit. Read more