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In a fascinating new survey released by Société Générale on Thursday, the bank found that while short-term appetite for EM assets are at their highest level year-to-date, investors are proving reluctant to invest. Continue reading »
Guillermo Moreno (pictured), Argentina’s combative internal trade secretary, has resigned, the government said late on Tuesday.
A controversial figure, Moreno has been instrumental in keeping the lid on Argentina’s runaway inflation by strong-arming companies into freezing prices and restricting imports. Continue reading »
Michelle Bachelet (pictured) is well on her way to returning to the Chilean presidency after winning 46.7 per cent of the votes in the first round of the country’s presidential elections on Sunday.
But while the 62-year old former pediatrician is expected to win the second round run-off on December 15 by a comfortable margin, she is also set to inherit an economy that is much less robust than the one she presided over during with her previous stint in 2006-2010. Continue reading »
Jim O’Neill, the former Goldman Sachs economist who coined and popularised the BRIC concept as an investment thesis, caused quite a stir this week when he talked up the prospects of the “MINT” economies. Continue reading »
The rebound seen in the Chinese economy during the third quarter has provided a much needed boost to Vale’s bottom-line.
Following a disastrous Q2, the Brazilian miner said on Wednesday that profits for the three months to the end of September have more than doubled thanks to stronger demand from China, higher commodity prices and a recovery in the Brazilian real. Continue reading »
Investors who have led the summer stampede out of EM equities are slowly making their way back into once-battered markets like India, Indonesia and South Africa – lured by cheaper asset prices, the delay in Fed tapering and signs of improving EM growth fundamentals.
The MSCI Emerging Markets Index, having plunged by as much as 16.7 per cent between the first week of May and the end of June, has recovered nearly all its losses from this summer. Continue reading »
While strong performances from the bank’s two biggest markets – Hong Kong and the UK – helped boost overall pre-tax profit by 30 per cent during the third quarter, business in Latin America posted another quarter of double digit decline as bad loans from Mexico and Brazil continue to mount. Continue reading »
In the case of Colombia’s Ecopetrol, Latin America’s second largest oil company by market capitalisation at $97.4bn, the decline in the Colombian peso against the dollar has helped bump up third quarter profit by nearly 20 per cent. Continue reading »
Who’s afraid of investing in small Chinese companies? Not US investors. Shares in Qunar, a popular travel website owned by Baidu, surged by as much as 133 per cent on their debut on the Nasdaq Stock Market on Friday.
The shares, priced at $15 a piece – well above the initial target range of $12-$14, ended the day at $28.40. Continue reading »
It’s not just bondholders and shareholders who are reeling from the financial collapse of Brazilian tycoon Eike Batista’s flagship oil company OGX.
With OGX revealing on Tuesday that it has cut payments to all but the most “critical” vendors for Tubarão Martelo – its most promising oil field and possibly its last hope of making money – suppliers are also quickly racking up losses. Continue reading »
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