When it comes to energy in Latin America, all eyes have been on Mexico’s plans to open its oil industry to private investment. But Peruvian officials stole some of that thunder at the weekend by saying the government planned to sell up to 49 per cent of state-run PetroPeru. Continue reading »
* India markets hit new high on Modi hopes
* Ex-Deutsche Bank exec guilty of bribery
* Snap poll fails to halt Thailand street protests
* Ukraine security services investigate opposition for alleged coup plot Continue reading »
The Indian economy is growing at under 5 per cent and car sales are in decline. Yet car manufacturers are planning to raise prices in the new year.
As a weak rupee continues to raise input costs, some of the major manufacturers including Maruti Suzuki, Hyundai, Tata Motors and Honda will hike their prices yet again. It doesn’t bode well for sales. Continue reading »
Monday’s mind-stretchers from the beyondbrics team: how Emirates airline is in the right place, at the right time; why India needs to fight inflation; stick with the ICC; Vitali in the spotlight; and Kofi Annan on Mandela’s high standards. Plus: rethinking Mandela’s legacy; China’s awkward political adjustment; Yanukovich the swindler; and are India’s state elections a taster for 2014? Continue reading »
Demonstrators march towards the government building in Bangkok
Thailand’s prime minister, Yingluck Shinawatra, called a snap election on Monday, but failed to halt fresh mass street protests aimed at ousting her government. Read the full story on FT.com.
It is rare that a new face at India’s lumbering state-backed banks causes much in the way of boardroom ripples. Yet the appointment of Arundhati Bhattacharya at State Bank of India, the biggest bank of all, might be doing just that, judging by her remarks in the FT this morning — and in particular given warnings that she plans to get tough with the nation’s debt-strapped conglomerates. Continue reading »
* China inflation slows on lower food prices
* Asia bourses mixed despite stellar US jobs data
* Thailand crisis deepens as PM calls election Continue reading »
By Ifty Islam of AT Capital
The debate continues on the motivations and risks of China’s decision on November 23 to announce an East China Sea Air Defence Identification Zone (ADIZ) which critically includes the disputed Senkaku Islands (know in China as Daioyu). There is little dispute that the standoff between China, Japan and the US has the capacity to escalate into something much more dangerous unless US Vice-President Joe Biden’s recent Asia trip is effective in ratcheting down tensions. Continue reading »
The week ahead in emerging markets: Trans-Pacific Partnership trade talks continue. Chile holds the second round of its presidential elections. The trial of several Muslim Brotherhood officials starts. Plus the Bank of Korea and Bank Indonesia hold monetary policy meetings. Continue reading »
The week in emerging markets, including our most read, five things we have learned and some long reads for the weekend. Plus the week in a chart: the South African rand nears a five-year low. Continue reading »
With a restrained grin, Mihaly Varga, Hungary’s economy minister, pressed the button to open trading at the Budapest Stock Exchange (BSE) on Friday – simultaneously inaugurating the Xetra trading system for the first time in the Hungarian capital. Continue reading »
President Nicolás Maduro is a fraud, his government is incompetent and corrupt, most ministers should be sacked, the ruling Socialist Party’s ideological discourse is sterile, the national “Bolivarian” project is on a suicide path, and there is a growing risk of a coup from within the administration.
But don’t believe the FT on any of this. These are the words of Heinz Dieterich, a Marxist professor and former mentor of Hugo Chávez, writing in the leftist website Aporrea. Having cleared our throats before Sunday’s municipal elections, what actually is at stake at the vote — in concrete terms? Continue reading »
Ukraine’s president Viktor Yanukovich met Vladimir Putin, his Russian counterpart, at the Winter Olympic resort of Sochi on Friday to discuss “trade-economic cooperation in different economic spheres and preparation to the future Strategic Partnership Agreement,” according to Yanukovich’s website.
A strategic partnership agreement? Really? Yanukovich and his lieutenants have been claiming imminent deals with Russia, China and the European Union for the past few days (our photo shows him in China with premier Li Keqiang before leaving for Sochi). But so far there is no sign of the cash injection Ukraine needs if it is to stave off what some analysts fear is now an imminent threat of a balance of payments crisis and even default. Continue reading »
An IMF research paper shows how rare Latin American financial crises have been since 1998, when the world was rocked by EM currency crises. We’ve graphed the findings below.
Carlos Vegh and Guillermo Vuletin, the authors, think the continent has learnt from 1998. Successful countries like Brazil, Peru and Chile have stimulated their economies when GDP dipped; before 1998, they were less keen to do so. Continue reading »
* South Africa mourns Nelson Mandela
* WTO clears way for landmark global trade deal
* Asia equities on hold ahead of US jobs data Continue reading »