· Emerging markets retain appetite for western food
The appetite of emerging markets for processed food, meat and dairy products has confounded fears of a big drop in demand in the wake of the financial crisis, says Cargill, the big US agribusiness.
· Vodafone forced to write down Indian business
World’s largest mobile network forced to write down the value of its Indian business by more than 25 per cent, just three years after securing control
· Euro’s woes likely to delay renminbi (yuan) reform
Chinese authorities will have been alarmed by the sharp drop in the euro’s value – China’s currency has, with the dollar, rapidly appreciated
Markets collectively know that too much of a good thing is seldom healthy, even if individual investors show little restraint – that is the increasing worry for many Asian countries as they look at rising interest in the region
· Gome founder jailed for 14 years
Huang Guangyu, once China’s richest man, was sentenced to 14 years in prison and had Rmb200m worth of his property confiscated for insider trading, bribery and illegal business dealings. THIS is how we should treat the unconscionable behavior of Wall Street fraud in the West!
· Bankers stay hopeful amid investors’ IPO caution
In current volatile markets, few investors want to take risks, and the result has been a large number of delayed or cancelled new- issue IPOs. The lack of liquidity in capital markets will place downward pressure on capital raising and capital expenditure by corporations.
· Bargain-hunters put shine on Shanghai
Asia-Pacific markets suffer from persistent worries about Euro-zone sovereign debt concerns might reach the so-far-resilient Asian markets.
· Cuba open its lucrative sugar industry to FDI
Cuba is opening up sugar production to foreign investments for the first time since the industry was nationalized in 1959 as the country seeks to reverse a relentless decline in output, and to reintegrate itself into the global economy despite the economically crippling effects of the more than four decade long U.S. economic embargo. See my Haiti post for comparison.
· Chinese investors remain cold despite recovery
At first glance, the recent slide in Chinese share prices that has left Shanghai in bear market territory looks inconsistent with the country’s economic recovery, writes Jing Ulrich at JP Morgan
· Commodity markets – a return to volatility
Nicolas Clavel at Scipion Capital answers readers’ questions on the outlook for the commodities market on Monday, May 24
· Risk-averse investors seek havens in US
Global investors sought refuge in US markets this month as aversion to the eurozone continued and confidence in China waned, according to the latest Bank of America-Merrill Lynch fund manager survey
· GlenCore 1Q income surges 75%
World’s largest commodities trader said its business improved on the back of “increased sales volumes of metal and coal” and higher average prices in copper, zinc and nickel
· China welcomes Iranian fuel deal brokered by Brazil & Turkey
Tehran’s proposed deal with Turkey to export uranium has been supported by Beijing, which said it hoped the proposal would “help promote the peaceful settlement of the Iranian nuclear issue” in a veiled reference to U.S. efforts to isolate Iran on the nuclear issue.
China has embraced and shaped urbanization while India is still waking up to its urban reality, and its potential and the opportunities that its cities offer for economic and social transformation, write Richard Dobbs and Shirish Sankhe
· Russia eyes deep end of WTO entry negotiations
Moscow’s chief negotiator has three main obstacles yet to clear to secure his country’s entry to the WTO but he is confident the end to 16 years of membership talks is in sight.
Source: Financial Times of London World Pages Image: FotoSearch.com
