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Thursday, 17 October 2013

Kazakhstan Ratifies Oil Pipeline Deal with China | Business | RIA Novosti

Kazakhstan Ratifies Oil Pipeline Deal with China | Business | RIA Novosti:

"Kazakhstan’s president has ratified an agreement with China on the development and operation of an oil pipeline linking it to China, the presidential press service said Thursday.
The 2,228-kilometer (1,384-mile) pipeline, running from Kazakhstan’s Caspian shore to Xinjiang in western China, is to be controlled by Kazakhstan state energy company KazMunaiGas and China National Petroleum Corporation.
The agreement defines the mechanisms and terms for the project’s implementation with a view to boosting its capacity, Kazakhstan’s Oil and Gas Ministry said.
Capital investment in the project is expected to reach $820 million."

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Poland: production back on the up | beyondbrics

Poland: production back on the up | beyondbrics:

"Poland’s economic recovery is gathering steam, with new industrial production numbers showing that growth in central Europe’s largest country is picking up sharply.

September’s industrial production was accelerated to 6.2 per cent on an annual basis, up from 2.2 per cent in August.

Looking at the third quarter, industrial production grew by an annual 49 per cent. In the second quarter industrial production grew by only 1.3 per cent while in the first quarter it contracted by 1.5 per cent.

Capital Economics estimated that the overall economy grew by an annual pace of as much as 2.5 per cent in the third quarter, a steep increase from an expansion of only 0.8 per cent in the second quarter."

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Qatar Airways eyes SpiceJet stake | Business Standard

Qatar Airways eyes SpiceJet stake | Business Standard:

"Qatar Airways is in talks with SpiceJet for a possible acquisition of 24% stake in the Indian low cost airline. The two airlines recently signed a non-disclosure agreement  but a  due diligence is yet to take place, a source familar with the development said.

The talks are in a preliminary stage and focused around Qatar Airways acquiring 24% stake in SpiceJet.  The Gulf airline may infuse $200 million in totality in both debt and equity in SpiceJet, the source added.

In January, Qatar Airways had denied that it was in talks with SpiceJet or any other Indian airline. Asked specifically about talks with SpiceJet earlier this week,  Qatar Airways spokesperson said that the airline did not wish to comment on the issue.  SpiceJet, however, denied it was in talks with the Gulf airline. "It is totally misconceived to say that SpiceJet is in talks with Qatar Airways for a possible stake sale,'' Sun Group CFO SL Narayanan said."

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Gold Exchange-traded Fund Launches on Moscow Bourse | Business | The Moscow Times

Gold Exchange-traded Fund Launches on Moscow Bourse | Business | The Moscow Times:

"Investment management firm FinEx Group and the Moscow Exchange said they had launched Russia's first gold-backed exchange-traded fund as part of a bid to turn Moscow into an international financial centre.

The FinEx Physically Held Gold ETF fund, which has been listed on the Irish Stock Exchange and cross-listed on the Moscow Exchange, tracks the gold price as calculated using the London Gold Fixing Price, FinEx said.

Shares will be available in U.S. dollars and rubles, it added.

"Our research shows there is substantial appetite among investors for gold now and going forwards. We anticipate significant demand for this product, especially in Russia," Simon Luhr, chief executive of London-based FinEx Capital Management, said in a statement Thursday."

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VTB Sells 50% Tele2 Stake to Billionaire Consortium | Business | The Moscow Times

VTB Sells 50% Tele2 Stake to Billionaire Consortium | Business | The Moscow Times:

"State bank VTB has agreed to sell 50 percent of Tele2 Russia, turning a quick profit and gaining investors with the expertise that could help it to challenge the dominance of the country's big three mobile phone operators.

VTB bought Russia's fourth-largest mobile operator from Sweden's Tele2 in April for $3.55 billion.

"It has been a profitable investment for us and we will stay as equal partners," Yury Soloviyev, first deputy president of VTB's management board, said.

Soloviyev declined to name the sale price, which has been put at $2 billion, including assumed debt, based on the price at which VTB has valued the stake on its books."

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IMF Starts 12-Day Review of Ukraine's Finances - WSJ.com

IMF Starts 12-Day Review of Ukraine's Finances - WSJ.com:

"Officials from the International Monetary Fund arrived in Ukraine Thursday for a planned review of the country's finances, as the former Soviet republic grapples with dwindling reserves and high debt.

The IMF mission will spend 12 days meeting central bank and senior government officials, a government spokesman said.

The fund said in a statement earlier this month that "the mission will assess the macroeconomic situation and discuss with the authorities a broad range of policy issues and plans for the near and medium term.""

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UAIndex down as all volume leaders sink into negative territory - Business - News - Ukraine Business Online

UAIndex down as all volume leaders sink into negative territory - Business - News - Ukraine Business Online:

"UAIndex closed down -0.86% on Wednesday, bringing the composite market cap to 4,124.41.

Agrokultura AB topped yesterday’s Best Performing Companies list, up +1.66% on trade of 35,247 shares.

Bottom feeder – and Volume Leader – for the day was Agroton, down -3.24% on trade of 117,441 shares."

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Debt ceiling and EM: time to fill your boots? | beyondbrics

Debt ceiling and EM: time to fill your boots? | beyondbrics:

"Is the “resolution” of the US debt ceiling drama a trigger to pile into EM? Benoit Anne at Société Générale thinks so. In a note on Thursday morning he told clients it created room for a sizeable rally in global emerging markets.

But hasn’t that already happened?

Here is Anne’s argument:

All stars are aligned in our view, including signals that the Fed QE tapering is at risk of being further delayed, the improvement in EM technicals, the strengthening of EM growth fundamentals and more attractive valuation. In the near term, what we are going to watch closely is real-money investor behaviour, as we believe that they remain massively under-invested. Most of them were waiting for a trigger and the resolution of the US debt ceiling issue may now pave the way for a buying spree in GEM."

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Vice vs Virtue - YouTube

Vice vs Virtue - YouTube:

"Vice stocks have performed well in recent years. John Authers considers whether ethical investors, who either screen out 'sinful' stocks or look for good ones, are a good bet to outperform the staples of alcohol, smoking, gambling, porn and arms

"

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Debt deal calms markets - YouTube

Debt deal calms markets - YouTube:

"The FT's US markets editor Michael Mackenzie says the deal over the debt ceiling is unlikely to produce equity market fireworks. Attention will focus back on whether the two-week shutdown did any harm to the economy and the prospect of another fiscal battle in early 2014 overshadowing activity

"

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Big debts and dwindling cash: Ukraine tests creditors' nerves | Reuters

Big debts and dwindling cash: Ukraine tests creditors' nerves | Reuters:

"It will be a jittery 18 months for Ukraine's international creditors, who are weighing up its $60 billion-plus debt repayment schedule against its fast-diminishing hard currency reserves.

Ukraine's presidential election in early 2015 is the focus for investors, who reckon the government will then be willing to sign up to a desperately needed loan from the International Monetary Fund. Before that, though, it would prefer to scrape by rather than accede to the IMF's politically difficult demands.

The country's debt problems shot into the spotlight this month when its state oil firm Naftogaz narrowly escaped default -- not through lack of cash but because of action by a U.S.-based creditor which successfully petitioned a UK court to seize a bond coupon payment in lieu of an old $22 million debt.

Ukraine paid the $22 million again to avoid default. But it could ill-afford the extra payment, given central bank reserves are barely above $20 billion -- less than enough for three months of imports."

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Russia proposes lifting Iran sanctions in exchange for intl control of nuclear program — RT News

Russia proposes lifting Iran sanctions in exchange for intl control of nuclear program — RT News:

"Moscow has proposed the lifting of international and unilateral sanctions against Iran if it agrees to have its nuclear program placed under international control, Russia’s deputy foreign minister said as the six-party talks rounded up in Geneva.

“The beacon, the main arrangement that we follow is the proposal by [President] Vladimir Putin that the recognition of Iran’s right to [uranium] enrichment as part of its inseparable rights under the Non-proliferation Treaty should be accompanied by the introduction of full comprehensive international control over the Iranian nuclear program,” Sergey Ryabkov told journalists in Geneva on Wednesday.

If such an agreement is reached all sanctions against Iran must be scrapped, the deputy foreign minister added. Moscow has influence on the talks between six world powers and Iran, known as P5+1, Ryabkov noted."

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Coke vs Pepsi in EMs: different strategies, same gloom | beyondbrics

Coke vs Pepsi in EMs: different strategies, same gloom | beyondbrics:

"
By Luke Smolinski and Pan Kwan Yuk

Coca-Cola and Pepsi are known for their cheery attitudes to the world. A list of their slogans include: “open happiness”; “life tastes good”; “the best drink created worldwide”.

But these days, life is tasting a lot less sweet for the two drinks giants as both struggle with waning growth in key emerging markets.

Muhtar Kent, Coca-Cola’s chief executive, set the tone during the company’s third quarter earnings call with analysts on Tuesday:"

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Phils benefits from improved governance - YouTube

Phils benefits from improved governance - YouTube:

"As one of Asia's best performing economies, the Philippines has won over international investors by improving its governance and rooting out corruption. Denise Law of Asean Confidential talks to César Purisima, finance minister, about sustaining his country's growth and the implications of a possible US debt default.

"

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Does flat global trade harm GDP? - YouTube

Does flat global trade harm GDP? - YouTube:

"Global trade growth has stopped. Gavyn Davies, Fulcrum Asset Management principal, argues that this undermines global GDP growth, but The New York Times's Paul Krugman disagrees. Mr Davies replies to Mr Krugman's points in an interview with John Authers

"

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Scottish cities boosted by property boom - YouTube

Scottish cities boosted by property boom - YouTube:

"While London and the southeast of England have soaked up the bulk of recent investment in the UK commercial property market, the Scottish cities of Aberdeen and Edinburgh are experiencing their own property booms.

"

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Daily chart: Stormy seas - YouTube

Daily chart: Stormy seas - YouTube:

"America's debt row makes economic policy more uncertain than amid actual war.

"

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