Daily Archives: Jan 30, 2013

Mexico’s strangely opaque transparency drive

Jan 30, 2013 11:41pm by Ron Buchanan

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Enrique Peña Nieto’s clean-cut image is matched by his enthusiasm for transparency, a theme that ran through his election campaign and he has followed through while in power. The Mexican president and his Cabinet recently published audited statements of their personal income, properties and other assets. Continue reading »

Tags: corruption, Enrique Pena Nieto, Mexico politics, transparency Posted in LatAm, Mexico | Permalink

Confused about Brazil’s currency war? So are we

Jan 30, 2013 10:40pm by Samantha Pearson

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Trying to understand what Guido Mantega is up to can be exhausting, especially when it comes to his favourite topic: currency wars.

The real weakened early on Wednesday after Brazil’s finance minister warned the government was ready to correct any excessive moves in the exchange rate, adding that a weaker currency makes domestic industry more competitive. Continue reading »

Tags: Brazilian real, currencies, currency war, LatAm currencies Posted in Brazil, LatAm | Permalink

Sinochem’s $1.7bn foray into US shale

Jan 30, 2013 9:35pm by Pan Kwan Yuk

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How much is the US’s expertise in developing shale gas and oil worth?

$1.7bn if you are Sinochem. The Chinese state-controlled oil and chemical conglomerate on Wednesday made its first foray into the US energy sector, snapping up a 40 per cent stake in a Texas shale oil and gas development from Pioneer Natural Resources. Continue reading »

Tags: China-US, fracking, M&A, oil & gas, Pioneer Natural Resources, shale, Sinochem Posted in Asia, China | Permalink

New blast furnace makes NLMK biggest steel producer in Russia

Jan 30, 2013 7:11pm by Isabel Gorst

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At a tough time for global steel markets, Novolipetsk Steel (NLMK) has established itself as Russia’s largest steel producer after bringing on stream the country’s first new blast furnace since Soviet times.

But, with steel prices weak, the extra output isn’t generating as much cash as NLMK might have hoped. The group warned of an 8 per cent drop in fourth quarter revenues and a flat Q1 2013. Continue reading »

Tags: Evraz, NLMK, Russia economy, Severstal, steel Posted in Europe, Russia | Permalink

S African billionaire signs up to Buffett philanthropy pledge

Jan 30, 2013 5:57pm by Andrew Bowman

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“How to spend it?” is the question which bothers many a billionaire (one suspects), but an increasing number are opting to give it away instead. South Africa’s richest black man, Patrice Motsepe, has joined the likes of Bill Gates and Warren Buffett in opting to give away a good deal of his money to the cause of philanthropy. Continue reading »

Tags: Patrice Motsepe, philanthropy, poverty Posted in Africa, South Africa | Permalink

Egypt: Fitch cuts to B amid crisis

Jan 30, 2013 4:37pm by Rob Minto

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Persistent protests and violence, a state of emergency, an increasing funding crisis: Egypt is having a tough 2013 so far.

It’s not a surprise then, that rating agency Fitch downgraded the country from B+ to B on Wednesday, and kept the country on a negative outlook, meaning further downgrades could follow. Continue reading »

Tags: credit ratings, Egypt economy, Fitch Posted in Africa, Egypt | Permalink

From FT.com January 30, 2013

Algeria held back by slow speed of reform

Algeria, with its population of 37m, its energy wealth and growing demand for modern infrastructure and consumer products, could have been a spectacular venue for foreign investment and a great economic player in the southern Mediterranean, writes Borzou Daragahi.

But because of its past and its location, Algeria is one of the toughest places to do business. Its tangled postcolonial history has enthroned a secretive leadership atop a Byzantine bureaucracy resistant to change. Continue reading »

Tags: Algeria investment Posted in Africa, Algeria | Permalink

Unicredit $1.4bn sale plan hits Warsaw

Jan 30, 2013 2:49pm by Jan Cienski

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UniCredit’s surprise announcement that it was selling a 9.1 per cent stake in Bank Pekao SA, its Polish subsidiary, went down like a lead balloon Wednesday on the Warsaw Stock Exchange.

The bank’s share price fell by more than 6 per cent before levelling out at a loss of 5.3 per cent, its worst performance in more than two years. Pekao’s Italian parent hopes to raise about $1.3bn in the sale, which would leave it with a 50.1 per cent stake in the Polish bank, the country’s second largest. Continue reading »

Tags: banking, Pekao, PKO BP, Poland economy, UniCredit Posted in Poland | Permalink

BlackBerry 10: the Kerala connection

Jan 30, 2013 2:16pm by Avantika Chilkoti

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Imagine an app that talks you through your yoga routine. Or an app that allows you to unlock your car, start the engine and turn on the air-conditioning remotely.

These are just two ideas developed by young south Indian entrepreneurs for the new BlackBerry 10, which launches this week. Continue reading »

Tags: BlackBerry, innovation, mobile app, smartphones, start-ups, technology Posted in Asia, India | Permalink

Iraq telecoms IPO: turning point?

Jan 30, 2013 1:53pm by Simeon Kerr

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Iraqi telecoms firm Asiacell’s $1.3bn initial public offering is the Middle East’s largest in four years.

There are also hopes the issue will mark a turning point in the history of post-Saddam Iraq, with the authorities seeking to broaden public share ownership throughout the country. But the buzz around the landmark event has not travelled far. Continue reading »

Tags: IPOs, Qtel, telecoms Posted in Iraq, MidEast | Permalink

Premium noodle makers – or how to keep more profits at home

Jan 30, 2013 12:50pm by Paul J Davies

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As China, India and Indonesia become more wealthy, more of their consumers hard-earned cash could find its way overseas.

This is not about the most wealthy fleeing their homelands or investing their money abroad – but about what the massed ranks of an emerging middle class will buy for fun. Continue reading »

Tags: China retail, consumer goods, India retail Posted in Asia, China, India, Indonesia | Permalink

What does Lenovo want to be?

Jan 30, 2013 12:16pm by Rob Minto

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Pioneer computer maker Apple is now most famous for phones and tablets. We may say the same of Lenovo one day, but not yet.

Lenovo may have made in-roads in the mobile phone market, but it is also vying with HP to be the world’s biggest PC maker. The company posted a record quarterly profit, up by a third from a year earlier. Can it really do both? What does it want to be? Continue reading »

Tags: Lenovo, smartphones, technology Posted in Asia, China | Permalink

New York headlines

Jan 30, 2013 11:49am by beyondbrics

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* Reliance issues $800m perpetual

* Emerging stocks head for best monthly streak in three years

* French troops enter last Mali rebel town Continue reading »

Posted in Global | Permalink

Shell in Nigeria: partly to blame

Jan 30, 2013 11:46am by Adam Green

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A Dutch court ruled on Wednesday that a Royal Dutch Shell subsidiary, SPDC, was partly responsible for oil pollution in the Niger Delta, but rejected four of the five charges against the Anglo-Dutch group.

It looks like a victory for multinationals trying to limit their exposure to legal claims in far-off countries, and a setback for emerging market activists attempting to bring foreign parent companies to book. Continue reading »

Tags: legal disputes, oil & gas, Shell Posted in Africa, Nigeria | Permalink

From FT.com January 30, 2013

Reliance: India’s first perpetual bond

Reliance Industries has raised $800m via a perpetual bond with no penalty clause, the first Indian company to issue a “for life” perpetual as it seeks to exploit record low interest rates and strong demand for Asian credit. Continue reading »

Tags: India finance, Reliance Industries Posted in India | Permalink

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Daily Archives: Jan 30, 2013

Mexico’s strangely opaque transparency drive

Confused about Brazil’s currency war? So are we

Sinochem’s $1.7bn foray into US shale

New blast furnace makes NLMK biggest steel producer in Russia

S African billionaire signs up to Buffett philanthropy pledge

Egypt: Fitch cuts to B amid crisis

Algeria held back by slow speed of reform

Unicredit $1.4bn sale plan hits Warsaw

BlackBerry 10: the Kerala connection

Iraq telecoms IPO: turning point?

Premium noodle makers – or how to keep more profits at home

What does Lenovo want to be?

New York headlines

Shell in Nigeria: partly to blame

Reliance: India’s first perpetual bond

BB: time to register

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