Google+ Followers

Friday, 8 November 2013

Magyar Telekom Retreats to Record After MSCI Cut: Budapest Mover - Bloomberg

Magyar Telekom Retreats to Record After MSCI Cut: Budapest Mover - Bloomberg:

"Magyar Telekom Nyrt., Deutsche Telekom AG (DTE)’s Hungarian unit, fell to a record after MSCI Inc. (MSCI) said it will remove the shares of from its emerging-markets index, while adding those of Gedeon Richter Nyrt.
The phone operator’s stock declined as much as 4.8 percent and was 2.7 percent lower at 286 forint by 12:06 p.m. in Budapest, the weakest since listing in November 1997. Almost 1.9 million stocks traded, 32 percent above the three-month daily average. Richter, Hungary’s largest maker of medicines, rose 2.2 percent. The BUX index was little changed.
The MSCI adjustments will take effect from Nov. 26, according to a semi-annual review released yesterday by the New York-based index provider, whose gauges are tracked by investors managing about $7.5 trillion. Shares of Budapest-based Magyar, which has a 0.02 percent weighting in the MSCI Emerging Markets Index, decreased 24 percent this year. Richter’s stock is up 20 percent in the period."

'via Blog this'

Forex scam: MMA boss sentenced to two years in jail |

Forex scam: MMA boss sentenced to two years in jail |

"MMA group’s CEO Malik Noureed Awan, 28, has been sentenced to two years in jail on charges of fraud.
On October 30, a Dubai court delivered the guilty verdict against the Dubai-raised Pakistani businessman, who was arrested in April this year after his Ponzi-like investment scheme collapsed spectacularly and left behind a long trail of devastated investors.
Details of the verdict are not yet known but investors who put their hard-earned money into the company’s dubious online foreign exchange trading arm, MMA Forex, have hailed the verdict."

'via Blog this'

Qatar cuts gas prices to keep competition at bay - Yahoo!7

Qatar cuts gas prices to keep competition at bay - Yahoo!7:

"Qatar is sweetening its gas sales pitch to lock-in long-term Asian buyers before a wave of new suppliers from the United States, Australia, and east Africa snatch market share and deflate prices.

Up to now, importers like Japan and South Korea have had few major supply alternatives to the tiny Gulf state, whose liquefied natural gas exports represent about a third of global supply.

But in a growing market for LNG, gas condensed for shipment to markets pipeline supplies do not reach, nearly 30 million tonnes a year (mtpa) of U.S. gas is already sold to Asia."

'via Blog this'

Tim Ash sees Yanukovych on verge of losing EU agreement and 2015 re-election - Opinion - News - Ukraine Business Online

Tim Ash sees Yanukovych on verge of losing EU agreement and 2015 re-election - Opinion - News - Ukraine Business Online:

"Ash: “Does Yanukovych want to go down in Ukrainian history books as the man who sold Ukraine's hard won independence for 30 pieces of silver from Russia? - I do not think so, and especially with the public mood turning in favour of the EU.”

LONDON, Nov 8, 2013 (UBO) – Noted London economist Tim Ash, who in the opinion of UBO has been generating some of the most informed and incisive commentary on the current situation in Ukraine, has returned to London after several days of on-the-ground investigation in Kyiv. Ash’s latest commentary gets straight to the heart of the matter and will not make for easy reading on Bankova Street:"

'via Blog this'

IMF Executive Board to consider Ukraine's issue in mid-December - BSANNA NEWS


"The Executive Board of the International Monetary Fund (IMF) will discuss the issue of Ukraine at a meeting, tentatively scheduled for mid-December, Gerry Rice, Director of Communications Department at the International Monetary Fund, said at a press briefing on Thursday, according to Ukrinform's Washington reporter.

"After the visit of the mission, which took place in the second half of October, discussions between the staff [of the IMF - ed.] and the Ukrainian authorities continue. I can also say that the Executive Board [of the IMF - ed.] will discuss these consultations under Article IV at the meeting, which is tentatively scheduled for mid-December," Rice said

He recalled that in a statement of the IMF mission, following its visit to Kyiv, it was noted the need for a comprehensive and reliable set of reforms that Ukraine needs for economic growth.

As reported, the IMF staff team led, by Nikolay Gueorguiev, visited Kyiv October 17-29, 2013."

'via Blog this'

Further reading: India v Goldman Sachs | beyondbrics

Further reading: India v Goldman Sachs | beyondbrics:

"Friday’s treats from the beyondbrics team: India v Goldman; princelings in US banks; human cost of hukou; Nepal elections; Polish PE; and Moscow’s stabler stock. Plus: that Goldman interview; S Africa’s reds; trouble in Thailand; Chile’s likely next president; and Twitter? What’s Twitter?"

'via Blog this'

BBC News - London Gateway: Timelapse of construction

BBC News - London Gateway: Timelapse of construction:

"The UK's newest deep-sea container port is opening on the north bank of the Thames.

London Gateway has been built by the Dubai-owned company DP World at a cost of £1.5billion. The company says the Gateway will cut the cost of transporting goods to the South East significantly.

The port will be the UK's second largest when fully operational and will be capable of accommodating the largest cargo ships in the world.

Timelapse and aerial footage reveals the extent and scale of the development. The Today programme's Justin Rowlatt spoke to the project's Engineering Director, Andrew Bowen.

Timelapse footage courtesy of DP World."

'via Blog this'

New Qatar Emir Takes Aim At Inflation, Corruption » Gulf Business

New Qatar Emir Takes Aim At Inflation, Corruption » Gulf Business:

Sheikh Tamim bin Hamad al-Thani.
Qatar will use all available tools to contain inflation while cracking down on corruption and business monopolies, its new ruler said in his first major economic policy speech since taking office.

Sheikh Tamim bin Hamad al-Thani, who became emir in June when his father handed over power, was speaking to a government advisory council on Tuesday.

His remarks showed sensitivity to issues that could become politically controversial in the tiny but wealthy state of around 2.1 million people, about 250,000 of whom are local citizens. The speech also betrayed concern that Qatar’s huge construction plans should not destabilise the economy.

The 33-year-old emir, quoted by state news agency QNA, described inflation as the foremost problem associated with the rapid growth of the economy."

'via Blog this'

Rising costs in China boost Bangladesh economy - YouTube

Rising costs in China boost Bangladesh economy - YouTube:

"As rising costs force many Chinese companies to move up the value chain, some Asian countries are benefiting from the move of low-end manufacturing to cheaper markets. The FT's Ben Marino reports from Bangladesh


'via Blog this'

Israel emerges as energy power - YouTube

Israel emerges as energy power - YouTube:

"Israel is emerging as a new energy power in the Middle East after making some of the world's biggest discoveries of offshore natural gas in recent years. John Reed reports on how this will boost the country's economy and impact politics in the region


'via Blog this'

On The EU And Ukraine: 'Slightly Pessimistic'

On The EU And Ukraine: 'Slightly Pessimistic':

"The European Union's Eastern Partnership Summit in Vilnius is just weeks away, on November 28-29. RFE/RL correspondent Rikard Jozwiak spoke with longtime international diplomat and former Swedish Prime Minister (current Foreign Minister) Carl Bildt about what to expect. "

'via Blog this'

Sheikh’s Debt Deal for Exxon LNG Stake May Prompt Offers: Energy - Bloomberg

Sheikh’s Debt Deal for Exxon LNG Stake May Prompt Offers: Energy - Bloomberg:

"A convertible debt deal struck during the 2008 financial crisis led by billionaire Sheikh Mansour bin Zayed Al Nahyan of Abu Dhabi is set to trigger a contest for a slice of a $19 billion natural gas project.
The export terminal being built by Exxon Mobil Corp. (XOM) is in Papua New Guinea, one of the world’s poorest nations, which now wants to buy back the debt before it becomes equity for Abu Dhabi. The project is forecast to double the local economy with global LNG demand estimated to rise twofold by 2025."

'via Blog this'

RenCap Says Considering Fixed-Income Unit for Sub-Saharan Africa - Bloomberg

RenCap Says Considering Fixed-Income Unit for Sub-Saharan Africa - Bloomberg:

"Renaissance Capital, the Russian investment bank controlled by billionaire Mikhail Prokhorov, is considering creating a fixed-income unit for sub-Saharan Africa as countries from Angola to Zambia tap bond markets.
“Fixed income is a real opportunity in sub-Saharan Africa,” Clifford Sacks, RenCap chief executive officer for the continent, said in a Nov. 6 interview in Johannesburg. “We’ll be looking at it in 2014 and the team could be based in London or Lagos.”
Sub-Saharan companies and nations, including Nigeria and Ghana, have sold bonds this year that were oversubscribed as investors seek to tap African growth rates surpassing those of developed markets. RenCap began operations in the region in 2006 and offers brokerage, equity research and merger and advisory services from Johannesburg, Nairobi and Lagos."

'via Blog this'

Historic EU deal would push Ukraine into needed reforms -

Historic EU deal would push Ukraine into needed reforms -

"In November, Ukraine is poised to sign historic association and free trade agreements with the EU, in a move that could mean much more for the country than just a shift away from Moscow’s grip.
In setting a course for convergence with the 28-nation bloc, Ukraine could become much more attractive for foreign direct investment, following in the footsteps of Poland, which saw reforms swiftly accompanied by economic success."

'via Blog this'