Huzzah. China’s economy is no longer slowing if fourth quarter GDP figure released on Friday is to be believed.
Q4 year-0n-year growth came in at 7.9 per cent, a hair above market expectations of 7.8 per cent and setting the stage for a good start to this year. However, the numbers tell us little about the durability of the rebound. Nor do they offer much in way of how the recovery will take shape.
On this front, General Electric’s fourth quarter results throw up some interesting insights. Continue reading »
Judging from Thursday’s successful Paraguayan bond sale, bond investors are clearly more desperate to find a good return somewhere – anywhere – then they are interested in constitutional niceties.
Paraguay agreed to sell $500m in bonds at 4.625 per cent, at the bottom of the guidelines of 4.625 per cent to 4.75 percent and far below earlier talk of 5 per cent, Reuters reported. Even more impressively, Paraguay came in under its neighbor Bolivia, which sold $500m in bonds in October at 4.875 per cent. Continue reading »
The new year is supposed to bring new things and so it was with Mexico’s central bank, which surprised analysts on Friday by saying that it could cut interest rates in the coming months in a scenario of lower growth and inflation, which it is now suggesting could be the case. Continue reading »
Say what you will, when it comes to confident – and confidence boosting – speeches, Viktor Orban is up there with the best. Speaking on public radio on Friday, for example, the Hungarian prime minister assured the nation that – as the government website paraphrased him:
“Hungary will begin to ascend in 2013,” and that having done the hard work in the past 30 months, the days of massive legislation efforts “needed for the country’s survival and competitiveness” are largely over and it’s time for growth. Continue reading »
Bill Gates and other US investors have pledged $1bn for a stake in Egypt’s largest listed company in one of the biggest currency inflows into the country since the 2011 uprising.
Orascom Construction Industries said on Friday it had launched an exchange offer on all its outstanding global depositary receipts under a share exchange backed by US investors including Cascade Investment, which is owned by the Microsoft co-founder. Continue reading »
Hugo Chávez was supposed to be sworn in for his third term as Venezuela’s president on January 10 but he hasn’t been seen in public since he went to Cuba for cancer surgery five weeks ago. John Paul Rathbone, the FT’s Latin America editor, and Jonathan Wheatley, deputy emerging markets editor, discuss the implications of this uncertainty for Venezuela and its debt.
Industrial production data out for Poland this Friday surprised even the gloomiest forecasters, showing an annual 10.6 per cent drop in December, the fastest contraction since April 2009 and well below the market consensus of a 6.5 per cent decline.
Although he has been involved with the WSE since 1994, the quick choice of Maciejewski to replace Sobolewski was a bit of a surprise – though the fact that an insider and not a politician got the job was reassuring for market participants. Continue reading »
With a long history of scientific breakthroughs, a growing market for high technology and tangible commitment from the government to economic modernisation, Russia is well placed to diversify its economy with high-tech innovation.
International venture capital companies are starting to see the opportunities. I believe that with enough effort from the Russian public and private sectors to leverage the country’s technological and VC resources, the potential of Russia’s innovation can be turned into reality. Continue reading »
China’s GDP may have turned upwards on a quarterly basis, but imbalances in the economy are still a worry. The FT’s Josh Noble talks to Wei Yao, China economist at Société Générale about the outlook for 2013.
After more than three years of fully open access, we are taking the step of asking our readers to register on FT.com to read our articles. Beyondbrics will still be free but we'd like to know a bit more about you, our readers. Other FT blogs (including Alphaville) already do the same thing. Registration is active on beyondbrics from May 6.
Many of you are already registered on FT.com, or are subscribers - in which case, if you are logged in to the site you will not notice any difference. Just carry on as before.
For those of you not yet registered, it's a simple process which only takes a few moments.
Reading beyondbrics articles will NOT deduct from your free monthly quota of stories on FT.com.