Suspecting that the minerals and metals trade was funding conflict in eastern Democratic Republic of Congo, the US Securities and Exchange Commission adopted Section 1502 of the Dodd Frank Act last August, requiring US-listed companies operating in the region to carry out checks on their supply chain for commodities including tin, tantalum, and gold.
This week, five months into the first reporting year of the law, a US House of Representatives’ subcommittee on monetary policy and trade heard ‘for and against’ testimony about the impact of Section 1502 so far. Continue reading »
* BoJ governor Haruhiko Kuroda promises to stabilise bond market
* G8 and G20 focus on tackling tax avoidance
* China clears Boeing’s Dreamliner for commercial domestic flights Continue reading »
A note from Capital Economics on Friday suggests the economies of central and eastern Europe may finally be emerging into the light.
Or at least its title does (Emerging Europe: Slump in regional growth may be bottoming out). Its message, though, is that while recent GDP figures may have given grounds for that kind of hope, growth is extremely weak and any recovery is likely to be sluggish and uneven. Continue reading »
Friday’s picks from beyondbrics: corruption scandals rock big-money IPL cricket; China’s regulatory crackdown; SAB Miller proves to be the toast of EM drinkers, and Heineken is playing catch-up; Georgia’s fragile democracy. Plus, Russia’s Asian gas gamble. Continue reading »
The latest weekly figures from EPFR, the Boston-based watcher of global fund flows, give us a snapshot of market sentiment in the days running up to Ben Bernanke’s comments on Wednesday, suggesting an end of quantitative easing could finally be in sight.
They show that investors were feeling relaxed and comfortable, even as rising yields on US Treasuries pushed up yields on emerging market debt and as EM equities remained under pressure. Will that mood last? Continue reading »
* Vedanta sells India’s largest ever offshore bond
* Chinese solar companies seek EU and US tariff deals
Rising US interest rates along with a China hard landing have long been cited as two of the biggest risks to emerging markets assets.
So how did the markets react to the relatively hawkish comments made on Wednesday by Ben Bernanke, chairman of the Federal Reserve, and the sluggish manufacturing data that came out of China on Thursday?
Pretty much with a shrug. Continue reading »
* Nikkei plunge triggers investor retreat
* China data add urgency to stimulus calls
* Emerging stocks head for biggest drop in 10 months Continue reading »
Thursday’s picks from beyondbrics: bond markets are booming again in southeast Asia, but it’s not back to the 90s yet; revamping GDP stats could push Nigeria towards being Africa’s largest economy; US plans for an ‘anyone but China’ club face obstacles; plus, Mongolia’s resource curse. Continue reading »
* Dollar rally saps Asian currency strength
* Chinese broker Galaxy enjoys strong debut
* Nigeria statistics chief has almost figured out the economy Continue reading »
Wednesday’s picks from beyondbrics: the Chinese government struggles to cool the property market; Indian exporters lack a foothold in China; the Tunisian government changes tack on Salafism; a special report on Poland, the EU’s best performing economy; plus, diverging inequality in Latin America and the US. Continue reading »
* Indonesia approves DBS acquisition of 40% of Bank Danamon
* Strong demand in China helps boost Burberry sales to £2bn
* China reveals details of first carbon trading scheme
One of the world’s largest fixed income fund managers expects Asia’s growing energy shortage to lead to investment opportunities in the credit markets.
Pimco, the US-based manager with $2.04tn in assets under management worldwide, said in a report released in Hong Kong on Tuesday that more oil and gas companies in Asia would tap the bond market, often to finance acquisitions outside the region as they come to terms with energy shortages caused by declining indigenous resources and increasing domestic consumption. Continue reading »