More good news for the government of President Dilma Rousseff on Thursday. Inflation slowed much more than the market expected in the 12 months to mid-March, easing to 5.61 per cent from 5.98 per cent in the previous reading.
Operation dissuasion has begun. As promised last week Argentina said on Thursday it had sent letters to the London and New York Stock Exchanges urging them to demand full information from the AIM-listed junior companies exploring around the Falkland Islands and the companies involved with them about their “illegal” activities.
Though Argos Resources, Borders & Southern , Desire, Falkland Oil & Gas (FOGL) and Rockhopper are not listed in New York, a letter was sent to the New York Stock Exchange in case they considered listing there. Continue reading »
Jockeying among the European Union countries for top eurozone financial jobs has thrown into question the chances of Germany’s Thomas Mirow (pictured left) of winning a second four-year term as president of the European Bank for Reconstruction and Development.
That could yet lead to a real contest for the first time for leadership of the bank, set up two decades ago to assist eastern Europe’s post-communist transformation. Continue reading »
When trying to predict the outcome of a race, it’s always useful to see where the smart money is going. So it’s with a heavy heart that beyondbrics reports on the odds of the two emerging market candidates for the World Bank. Continue reading »
Central Asia is mainly known for its abundant hydrocarbon reserves – but some countries in the region are already turning their attention to wind resources to produce cleaner, renewable energy.
Mongolia has set an ambitious goal to become central Asia’s renewable energy champion even as foreign investors compete for access to its huge coal mines. Strong winds gusting across the empty steppe could eventually be harnessed to produce about one quarter of the country’s energy needs. Continue reading »
Investors don’t like uncertainty – and it doesn’t come much bigger than a military coup. After soldiers in Mali staged a mutiny in the capital, cutting off state media broadcasts and firing on the presidential palace, London-listed miner Randgold has seen a big fall in its share price.
The miner was off 17 per cent at one point on Thursday – at time of writing it is down 10.08 per cent. The company reported normal operations, but that hasn’t stopped investors taking fright. Continue reading »
It follows growth-boosting reductions elsewhere in CEE in recent months, including in Serbia and Romania. But the easing is by no means universal, with Russia, Poland and the Czech Republic all holding firm and Hungary raising rates to protect a weak currency. Continue reading »
Standard Chartered must like a challenge because it has just taken on a tough one: helping troubled Vietnam improve its sovereign credit ratings.
The Vietnamese government, which is battling deep-seated problems in banking state-owned enterprises, on Thursday appointed the emerging market-focused bank as its sovereign credit ratings adviser, Standard Chartered said. Continue reading »
There are 1.2bn people in India. But just 32.4m of them – less than 3 per cent of the population – pay income tax.
India’s tax department will collect around $30bn of income tax in the fiscal year ending March 31, according to a report by the parliamentary standing committee on finance. Of that, $3bn will come from 29m taxpayers earning less than $10,000 a year. So 10 per cent of the total collected will come from just under 90 per cent of those paying. Continue reading »
It is no secret that it is no longer that cheap to make things in China. But now, it is becoming expensive to sell there, too.
Neiman Marcus, the US multi-brand luxury retailer, plans to enter China via e-commerce rather than traditional bricks-and-mortar. And it is not the only one. A report due to be published on Friday shows that the spiraling cost of doing business in the country is driving other foreign companies with new products away from traditional retailers and into the arms of e-commerce firms. Continue reading »
Thursday’s picks from the beyondbrics team. Chinese politics post-Bo; Chinese corruption; and China as a lonely superpower. The rationale behind Moscow’s stance on Greece and Syria; and why the next Zuckerberg might be found in Brazil.Continue reading »
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