Venezuela: uncertainty reigns
New Year in Venezuela is a curious occasion at the best of times – traditions include jumping off chairs backwards, running round in circles carrying suitcases and wearing yellow underwear.
But with half the country petrified that their beloved leader may be about to depart this world, and the other half desperately hoping that they may be on the verge of a new era, there was less time for the usual eccentricities. Continue reading »
Mexico manufacturing: chugging along
There are few better ways to start the new year than posting strong results. So imagine the delight of Mexico’s new administration when a manufacturing index on Wednesday showed the best monthly result since records began in April 2011. Continue reading »
Fiscal cliff deal drives EM rally
News of a last minute-agreement in the US fiscal cliff negotiations to avoid $600bn of government spending cuts and tax increases on Tuesday was greeted by a stock market rally. While markets in the US and Europe jumped, the news was equally well received key emerging markets – with stock exchange charts heading up rather down a cliff as relief filtered through. Continue reading »
Brazil manufacturing 2012: out with a bang
PMI Wednesday rolls on and has reached Brazil, where the HSBC / Markit index was 51.1 in December, lower than November’s 52.2 but still comfortably inside positive territory. It’s an encouraging end to 2012 after a dismal performance for the wider economy, where growth is expected to be less than 1 per cent for the year. Continue reading »
Turkish manufacturing shows strength
Turkey’s manufacturing sector is signaling it anticipates growth in 2013, according to the Markit / HSBC Purchasing Managers Index (PMI) for December published on Wednesday. The index, which is compiled monthly from data supplied by purchasing managers at 400 Turkish companies, rose for a fourth successive month. Continue reading »
Indian airlines: low cost carriers expanding
It turns out cheap is, indeed, cheerful where Indian airlines are concerned.
According to a new global ranking, low-cost carriers IndiGo and SpiceJet expanded capacity by 34.6 per cent and 16 per cent respectively in 2012, while standard carriers Air India and Jet Airways trimmed back operations. The contrast is stark – and that’s even before the dormant Kingfisher enters the picture. Continue reading »
New York Headlines
* Emerging stocks rise as BRICs head for bull market on U.S. Bill
* Macau casinos end year on a high
* Beijing land prices soar amid criticism
* Hyundai group sees slower growth
* S Korea and Taiwan manufacturers show optimism
Markets: up Continue reading »
Poland: ringing in an upswing?
The year begins with a bit of a break from the recent run of gloomy economic news for Poland, as December’s purchasing manager’s index shows some signs of a decrease in the speed of the country’s economic downturn. Continue reading »
Further reading: tragedy to miracle
Wednesday’s picks from the beyondbrics team: how Africa has defied the doubters; ultraconservative Sunnis are on the rise after the Arab spring; Why Egypt’s Mohamed Morsi is optimistic about 2013; why Xi Jinping needs to act decisively to re-balance the Chinese economy; plus, can the cuts heal? Latvia provides mixed messages. Continue reading »
Taiwan’s PMI: all good news welcome
Will Taiwan’s economy turn around this year after its dismal performance in 2012?
So far this year – which is admittedly only two days old – the news is looking good. The country’s manufacturing PMI for December came in at 50.6, with any reading above 50 signalling expansion in the manufacturing sector. That’s the first time in seven months that the index registered any expansion there. Continue reading »
Asian PMIs: happy new year?
January 2 is purchasing managers’ index day at Markit, the research company that produces HSBC’s monthly surveys of manufacturing sentiment. Five Asian PMIs were published on Wednesday. The results are a mixed bag but those of a sunny disposition can certainly find cause for a spot of new year optimism – especially for those countries best placed to take advantage of China’s seasonally cheerful outlook. Continue reading »
London headlines
* Asian stocks rise on US budget deal
* Hyundai group sees slower growth
* S Korea and Taiwan manufacturers show optimism
* S Korea financial regulator to tighten grip
* Indonesian exports decline Continue reading »
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Stefan Wagstyl
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Pan Kwan Yuk
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