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** FT News **

* Isis claims to behead captive US journalist | White House said the intelligence community was trying to determine the authenticity of a video showing James Foley

* Rockets prompt Israel to end Gaza talks | Israel blames Hamas for breaking the fragile truce and resumes its bombing campaign, temporarily ending the indirect talks sponsored by Egypt Continue reading »

By Jonathan Fenby, Trusted Sources

There’s nothing like an acronym or a catchy label when it comes to emerging markets. The master alchemist, Jim O’Neill, set the pace with the formulation 13 years ago of the four-nation BRICs (with or without a final capital S for South Africa). Fidelity followed that with the MINT collection of Mexico, Indonesia Nigeria and Turkey constituting MINT).

Then Morgan Stanley chipped in with Fragile Five, which – such are the vagaries of nomenclature – includes five members of the previous two aggregations.

Now, a new and potentially more durable grouping is emerging – even if it does not lead itself to an acronym that trips off the tongue. The best I can come up with is CIMI – or, if you twist it to give Mexico rather than China first place, the marginally more memorable MICI, though that would invite too many columnists to compare them to Disney’s mouse. Continue reading »

** FT News **

* Kurds retake Mosul dam from Isis | US launches most intensive day of air strikes, since intervening in conflict 10 days ago, to pave way for peshmerga victory

* Egg producer to challenge Crimea asset grab | London-listed company plans court action after Crimean leaders revealed plans for a forced buyout of Avangardco’s local egg production factory Continue reading »

If anyone had any doubts about the political significance of the tragic plane crash that killed presidential candidate Eduardo Campos last week, they only need to see the results of Monday’s Datafolha poll.

Marina Silva, who is set to take over as candidate for the Brazilian Socialist party (PSB), attracted over twice as much support as Mr Campos did before he died and now stands a real chance of winning October’s elections. Continue reading »

By Jean-Claude Bastos de Morais

Small and medium-sized enterprises are the real engine of growth. In developed markets they form the backbone of industry, driving innovation and employing millions. The UK’s Department for Business, Innovation and Skills, for example, reported that there were 4.9m private businesses at the start of 2013, employing 24.3m people. All mature markets depend on small businesses to create jobs and drive innovation.

Emerging markets must follow suit if they are to stimulate enterprise and build a robust economy. This is why countries such as Angola need to ensure that the banking sector is not only liberalised and competitive but also prepared to create wider access to capital for SMEs. Continue reading »

** FT News **

* Kurdish forces encircle Mosul dam | US forces bomb area three to four times a day earlier in preparation for the Kurdish offensive on the dam, which is seen as an important target

* Ukraine claims breakthrough in east | Kiev says troops have advanced into Lugansk as talks resume and diplomatic efforts to prevent escalation of the conflict quickened Continue reading »

By George Iwanicki of JP Morgan Asset Management

In recent years, EMs have struggled relative to DMs because of the widening gap in economic performance. The chart below shows economists’ consensus forecasts for gross domestic product growth of EMs versus DMs over the next 12 months.

Economic growth in both EMs and DMs sharply improved after the financial crisis in 2008. In recent years, however, EM growth has decelerated while growth expectations for DMs have improved. This decoupling between EMs and DMs is the primary culprit behind the multi-year slowdown in EM profits, the decline in relative market performance and, within EM equities, the outperformance of growth stocks over value. Continue reading »

By Mohan Pillay, Pinsent Masons

A quiet revolution is taking place in commercial litigation. Global businesses, organs of state and wealthy families – concerned by the havoc that the twists and turns of public litigation can inflict upon their reputation or share price – are increasingly turning to a more discreet way to resolve their disputes.

International arbitration – a process that uses a private tribunal composed of global legal cognoscenti agreed by both parties – is becoming more popular. Recent research carried out by Pinsent Masons has found that almost all of the major centres of international arbitration have reported an increase in the number of cases lodged during the past year. Continue reading »

** FT News **

* Russian convoy heads for Lugansk | A convoy of Russian aid trucks turned towards Rostov on Thursday, adding to speculation that it might enter Ukraine through separatist territory

* Brazil crash kills presidential candidate | The death of Eduardo Campos in a private jet accident changes the outlook for October’s election, in which Dilma Rousseff is battling to stay in power Continue reading »

** FT News **

* Brazil crash kills presidential candidate | The death of Eduardo Campos in a private jet accident changes the outlook for October’s election, in which Dilma Rousseff is battling to stay in power

* US scales back Iraq rescue mission plans | US says there are far fewer Yazidis in need of help than previously thought, making an international force Continue reading »

** FT News **

* Kiev vows to halt Russian aid convoy | Relief operation appears to contradict an earlier agreement to join a mission led by the Red Cross, with support from Moscow and the EU

* Alibaba overhauls its Alipay relationship | A restructuring before the ecommerce group’s IPO eliminates a cap on its potential gain should the payment processor go public Continue reading »

** FT News **

* Move against Maliki deepens Iraq crisis | Country’s president names Haidar al-Abadi as new prime minister. US President Barack Obama interrupts holiday to endorse ‘constitutional process’

* Kiev agrees to international aid convoy | Mission to Lugansk in eastern Ukraine will be led by the International Committee of the Red Cross, with the participation of EU, Germany and Russia Continue reading »

** FT News **

* Erdogan faces challenge to bolster power | Despite his election success, the new president faces other, less visible challenges if he is to permanently change Turkey’s system of government

* Ukrainian army edges closer to Donetsk | The newly appointed head of rebels in Donetsk has ruled out negotiations for a ceasefire as government continued its advance on the city Continue reading »

** FT News **

* Erdogan takes Turkish presidency | Prime minister wins first direct poll on first round in a triumph for his bid to bolster his powers and change the country’s system of government

* Hopes rise for long-term truce in Gaza | Palestinian negotiators said they are ready to accept an Egyptian proposal meant to revive talks on long-term ceasefire that would end war in Gaza Strip Continue reading »