LONDON (Reuters) – The impact of the euro zone crisis on emerging Europe and the political challenges of North Africa will occupy minds at eastern Europe’s development bank meeting in London this week, where a new president to deal with it will also be chosen.
The European Bank for Reconstruction and Development, set up in 1991 to enable the former communist economies of the Soviet Union to make the transition to the free market, hosts its annual meeting for its 65 country and multilateral shareholders on Friday and Saturday.
LONDON, May 11 (Reuters) – Facing a possible change at its
helm, emerging Europe’s development bank risks stretching itself
thinly as mission creep into North Africa eats up resources
while the bank’s core charges feel the heat from raging euro
zone financial fires.
The European Bank for Reconstruction and Development, set up
in 1991 to enable the former communist economies of the Soviet
Union make the transition to market economies, hosts its annual
meeting for its 65 country and multilateral shareholders at its
London headquarters on May 18-19.
JERUSALEM/LONDON (Reuters) – Political stability and receding worries about an attack on Iran are likely to support Israel’s markets after the country formed a unity government on Tuesday, but budget and regulatory reform could be a worry.
Prime Minister Benjamin Netanyahu formed the broad coalition government in a political surprise that avoided an early election.
Emerging markets offer drinks manufacturers exactly what they’re looking for – millions of potential new consumers ready to buy their products. But it’s not enough any more just to sell EM consumers a distilled version of the American Dream, says Euromonitor beverage analyst Jonas Feliciano.
While consumers may once have bought Western carbonated drinks for the same reason they bought blue jeans, now people in the top five drinks growth markets of China, Mexico, Brazil, Indonesia and India want something adapted to local tastes, Feliciano says:
Saudi stocks have been on a roll on expectations of more foreign investment.
The Saudi index is already one of the most liquid frontier markets, even though foreigners cannot buy stocks directly, but only through participatory notes.
Plans to widen foreign access to Saudi shares via limited direct ownership have lifted the stock market by 18 percent this year, compared with a gain of only 2 percent in broad frontier markets. The index hit its highest in 3-1/2 years a few weeks ago but has fallen a bit since then.
Presidential elections may make investors look more kindly on Egypt, as a further sign of democracy in the country.
Egypt, the best-performing MSCI emerging equity market this year, has risen 40 percent after falling sharply in 2011, but many investors remain cautious.
LONDON (Reuters) – Opposite the neoclassical pile of the Bank of England in the heart of the City of London stands an unprepossessing building that houses a Chinese bank.
Bank of China (UK) has been in the City since 1929, the year of the Wall Street Crash, but nobody much noticed the bank, or any Chinese presence in London’s financial markets, until two weeks ago.
LONDON, April 30 (Reuters) – Opposite the neoclassical pile
of the Bank of England in the heart of the City of London stands
an unprepossessing building that houses a Chinese bank.
Bank of China (UK) has been in the
City since 1929, the year of the Wall Street Crash, but nobody
much noticed the bank, or any Chinese presence in London’s
financial markets, until two weeks ago.
LONDON (Reuters) – The euro dipped and investors sought safety in German government bonds on Friday as a two-notch downgrade of Spain’s credit rating ahead of a key Italian bond auction increased nervousness about the struggling economies in the euro zone.
European shares stabilized at 1,040.70 points after three straight days of gains following the move by Standard & Poor’s – it cut Spain to BBB plus – and fresh data showing Spain’s jobless rate rising.
More than two years on from Dubai World, and Dubai is still struggling to sort out its debt.
Investors were shocked when government-owned Dubai World declared a payment standstill on its debts in Nov 2009 — a brutal tarnishing of the ”sovereign halo”, which investors thought shone even on those borrowers whose debt did not have a solid sovereign guarantee.