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* Tunisian leader dissolves government
* ISS deals blow to Rothschild over Bumi
* Rebels intensify attack on Damascus Continue reading »
* China aims weapons at Japanese warship
* Argentina refuses Vale’s call for tax breaks
* SABMiller seeks China fillip with Kingway Continue reading »
* Turkish troops pursue Kurdish militants
* Iraq projects $100bn investment in oil fields
* India oil refiners seek $2.8bn fuel subsidy Continue reading »
[snap] EM equities: here we go again
So much for the relief rally. Asian stocks rose on Wednesday, European ones followed suit… and then it was all over, at least for now.
Shares in Budapest were down 6.8 per cent at 16:15 BST. Warsaw’s WIG20 index was off 7.2 per cent. Confidence evaporated as soon as markets opened in New York and Wednesday’s whiff of confidence – generated by the Fed’s decision late on Tuesday to leave interest rates low until 2013 – faded away.
I’m fascinated by Huawei Technologies: it encapsulates all the challenges that fast-growing Chinese companies face – from governance to branding – and then some.
It’s already the world’s second largest manufacturer of mobile network equipment by revenue, but Huawei’s latest big bet is to be one of the world’s top three mobile handset brands by 2015. Wan Biao, chief executive of Huawei’s device unit, set the target at Wednesday’s launch of its cloud-computing smartphone, the “Vision”, based on Google’s Android operating system. Continue reading »
Yingluck’s populist policies: economic cost?
Thailand has managed weathered the political uncertainty of the elections, but now, as parliament is expected to sit for the first time on Monday, it is the turn of the economists to get worried.
What do they think of the raft of populist policies the winning party of prime minister-elect Yingluck Shinawatra has promised, which include a 40 per cent rise in the minimum wage, increased social security and a slew of major infrastructure projects? Continue reading »
Venezuela: Chávez van Gogh
It is well known that Hugo Chávez is a former military man. Many are also aware of his passion for baseball, a career the left-handed pitcher abandoned in order to join the army. But it often goes unmentioned that he is also an enthusiastic painter.
Venezuela’s multi-talented leader clearly wanted to remind the nation of this, as he greeted ministers to a televised cabinet meeting at the presidential palace this morning, while putting the finishing touches to his latest masterpiece. Continue reading »
The weekender
This week on beyondbrics:
- Moody’s warns on China debt. Should we care?
- Where in the world is Jiang Zemin?
- Bank of Moscow gets $14bn bailout, investors hit the panic button and bondholders wonder what’s left for them.
- The Brazilian credit bubble debate continues here and here.
- A simple idea to save Egypt. Continue reading »
Some agricultural good news for Brazil
Behind the headline noise of an ongoing currency war, a possible credit bubble, and a slide in sugar production, one crucial part of Brazil’s economy, grain output, is plodding quietly and steadily ahead.
On Thursday, the country raised output projections for the 2010/2011 harvest to 162m tonnes, an 8.6 per cent rise on last year and an all-time record for the batch of commodities, which has been boosted by expansion of farmland in Brazil’s fertile interior and the persistence of hungry people worldwide. Continue reading »
Tuesday’s top picks from the beyondbrics team: inflation in Russia hits material comforts, more on investors’ reaction to the Thai elections and and why China thinks the US is in trouble. Continue reading »
A new leader in Thailand, supermarket wars in Brazil and employment problems in Indian and South Africa. Not to mention China explaining why it its support is very good for Africa. Continue reading »
Medvedev FT video interview
In a video interview, Russian president Dmitry Medvedev tells the FT’s Neil Buckley that there is no “growing gap” between himself and Vladimir Putin as they both prepare to decide which one of them will run in next year’s presidential election. Read the full transcript of a separate FT print interview here and the resulting story – Moscow’s Enigma – here.
The start of the week will be dominated by the outcome of the MSCI Annual Market Classification Review. There are four country indices on the review list: Korea and Taiwan for potential reclassification to developed markets and Qatar and United Arab Emirates for potential reclassification to emerging markets.
The focus at the end of the week will centre on the European visit of Chinese prime minister, Wen Jiabao. He is scheduled to visit Hungary, Britain and Germany. Markets will be watching closely for how Wen handles economic expectations. Continue reading »
Shares in Brasil Foods (BRFS3:SAO), the world’s biggest poultry exporter, surged by more than 4 per cent in São Paulo on Wednesday after regulators postponed a decision on whether or not to break the company up.
CADE, the competitions watchdog, had been due to rule on the merger of Perdigão and Sadia, which created Brasil Foods, more than two years after it was announced in May 2009. Continue reading »
* Syrian tanks take Jisr al-Shughour
* China’s bank lending falls sharply in May
* Vietnam seeks US support in China dispute
* Indian IT outsourcers face fresh challenges
* Eastern Europe pushes back euro adoption
* Villagers protest at POSCO’s $12bn Orissa project Continue reading »
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