Guest post: Emerging market consumers still going strong
By Kate Moore, BofA Merrill Lynch
Economists have been talking about the great potential of the emerging market consumer for years. While developed market consumers face the spectre of government deleveraging and lower economic growth, EM consumers are often still experiencing rising incomes and improving living standards.
We believe that despite a slower pace of GDP and consumption growth in EM over the next five years, the EM consumer theme will remain compelling. Continue reading »
London headlines
* HSBC preliminary China May PMI 48.7 vs final April PMI 49.3
* Chinese Estates chairman charged with bribery in Macau
* India airport scandal hits government
* China pledges more ‘fine-tuning’ in support for growth Continue reading »
Guest post: Colombia, work in progress
By Heather Berkman of Eurasia Group
After decades of intense armed conflict that tarnished the country’s image, Colombia’s government has drastically reduced the yearly tally of homicides, kidnappings and attacks on infrastructure and has demobilized thousands of left- and right-wing illegal armed groups, resulting in a surge in foreign direct investment.
But lingering beneath the glowing reports and favourable statistics are disquieting developments – and the government is feeling the pressure. This could make it less willing to push through the reforms that are necessary to solidify Colombia’s resurgence. Continue reading »
New York headlines
* Asia Slides on Greece Worries
* Lenovo fourth quarter net profit up 59 percent, meets forecasts
* PTT swoops with higher bid for Cove Continue reading »
Further reading: changing faces
Wednesday’s top reads from beyondbrics: China’s lending lab; Nigeria’s Boko Haram problem; and the bumpy road to growth. Plus: Brazil ‘Chinafies’; Zuma, art, and democracy; Africa’s rise; and why China might not be the coming superpower after all. Continue reading »
London headlines
* US senators vote to cut aid to Pakistan
* World Bank cuts China growth forecast to 8.2 per cent
* West shifts stance on Iranian sanctions
* Brazilian central bank moves prop up real Continue reading »
Guest post: Blinded by the (solar) light
By Kelly Sims Gallagher and Kevin P. Gallagher
The Obama Administration’s preliminary decision to impose a 31 per cent tariff on solar panels imported from China is short sighted. The move could cause a trade war, hurt the US economy, jeopardize US security interests, and put the world further off course in terms of meeting its global climate change goals. Continue reading »
[Video] Dubai: more than shopping
Simeon Kerr explores a Gulf state that is trying to become more than just a tax-free destination. Expats comprise 90 per cent of the population of the emirate, whose good connections and more liberal attitudes make it the easiest place to live in the region.
New York headlines
* EU summit hopes boost Asian stocks
* Brazil moves to boost car industry
* China targets infrastructure to lift economy
* Regulation could cost Indian telcos $50bn Continue reading »
Further reading: in the spotlight
Tuesday’s titbits from the BB team: why Chinese brands fail in the West; a spiced up Thai dish; Gupta’s Indian friends; gay rights in Malawi; and old loyals or new liberals in Putin’s cabinet? Plus, get ready for a possible Alibaba IPO. Continue reading »
India’s ruling party needs a radical overhaul of its leadership, writes Ramachandra Guha in the FT.
The Indian economy is slowing and spluttering, and will continue to do so for some time. Behind this economic stagnation is a deeper story of political degradation. The country’s greatest political party is in steady decline.
Congress is in power in New Delhi, as it has been for all but 13 years since India’s independence in 1947. Yet this government is without energy and purpose. Even the weakest of minority governments were not so hopeless and apathetic. The apathy is linked to the beleaguered status of the party’s main leaders.
Guest post: Dana Gas – big trouble in little Sharjah
By Ghassan Chehayeb of Exotix Limited
A showdown is brewing in Sharjah, the UAE’s third largest emirate. Sharjah-based Dana Gas, a natural gas-focused E&P company, has a $920m sukuk due in five months, yet the issuer is far short of the required funds to repay the obligation. The sukuk’s price has fallen from above 95 in July 2011 to just 68, as restructuring headlines continue to spook investors. Continue reading »
London headlines
* Wen wants action to boost China growth
* EU summit hopes boost Asian stocks
* Brazil moves to boost car industry
* Morgan Stanley cuts India growth forecast Continue reading »
When travelling from Falcon Private Bank’s Zurich headquarters to its office in Dubai’s Emaar Square, David Pinkerton flies over Alps, seas and deserts. But when he lands, he finds a country with one decidedly Swiss characteristic.
“Whether it’s Egypt or concerns about Iran, people consider the UAE a safe haven, the Switzerland of the Middle East,” the bank’s chief investment officer says. Continue reading »
[video] Prepare for EM slowdown
Maarten-Jan Bakkum, emerging markets strategist at ING, thinks the days of huge emerging market returns are over. Which countries look vulnerable, and which are still good choices for investors?
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