Emerging Markets
EM new opportunities for Mobile Phone Operator – Mobile Phone Operators see a great growth opportunities with the large amount of SME emerging and growing in the Emerging markets. Reuters
HSBC is looking at the EM – HSBC is on the look out for M&A’s in EM and is particularly interested in China – WSJ, Reuters
Pension Funds are heading to the EM – Fund managers are looking at increasing the amount of pensions funds investmented in EM. Pionline
Latin America
Banco do Brasil wants US$5.7bn US share sale – SAO PAULO, Oct 31 (Reuters) – Banco do Brasil (BBAS3.SA), Brazil’s biggest bank, wants to fetch up to 10 billion reais ($5.7 billion) in a share offering in the United States to replenish its capital base, newspaper O Estado de S. Paulo reported on Saturday, citing unnamed sources. Reuters
Honduran coup leaders agree to restore ousted president to power - The de facto government announces that it will sign accord reinstating Manuel Zelaya. The Guardian
AEI Pulls Offering Amid Record Low Returns for IPOs – Oct. 30 (Bloomberg) — The market for initial public offerings, hurt by the worst returns in at least 14 years, suffered another setback after AEI pulled its sale. Bloomberg & Reuters
EMERGING MARKETS – LatAm stocks tumble, worst day in 8 months – NEW YORK, Oct 28 (Reuters) – Investors pulled back from riskier markets again on Wednesday after weak U.S. housing data upset economic recovery hopes and slammed Latin American stocks for their worst one-day fall in nearly 8 months. Reuters & Bloomberg
Forget China, Brazil’s a cheaper investment – The bustling economy survived the global slump in style, and many of its stocks are still reasonably valued. CNN Money
Asia Pacific/Pacific
Pakistan’s National Bank Net Declines on Provisions – National Bank of Pakistan, the nation’s biggest lender by assets, said third-quarter profit declined 18 percent after it set aside additional funds to cover bad debts and received lower dividend income. Bloomberg
China’s Sinopec posts 25% drop in 3Q net income – Sinopec Profit May Fall as Fuel Prices Lag Behind Oil. Bloomberg, China Economic Review
China sovereign fund buys 45% stake in Russian oil company – China Investment Corporation (CIC), the nation’s sovereign wealth fund, announced Friday that it had closed the first phase settlement for the purchase of a 45 percent stake in Nobel Oil Group. People.com.cn
China’s economic policies, RMB exchange rate to remain stable – China is to maintain basic stability and continuity in the economic policies and RMB exchange rate to ensure a foreseeable prospect for its businesses. Xinhuanet
India is wondering what to do with all the capital – India is facing an unprecedented inflow of foreign capital into the market and now needs to find new ways to cope with that challenge and opportunity. Seeking Alpha
SE Asia Stocks-Markets subdued, Thailand leads falls. Reuters
Africa
China’s direct investment in Africa, excluding in the financial sector, shot up 78.6% – Mbendi, People.com.cn
IMF forecasts Kenya’s economy to grow by 2.7% in 2009 – A statement issued in Nairobi following the conclusion of a two-week visit to the East African nation said the economic performance is expected to improve gradually.Xinhuanet
Uganda’s Inflation Slowed to 13.3% in October – Uganda’s annual inflation rate declined to 13.3 percent in October after the prices of some foods fell, the Uganda Bureau of Statistics said.Bloomberg
IMF sees 3% Zimbabwe growth, warns on wages demands -Zimbabwe’s economy would grow by 3 percent this year due to improved policies said the IMF. Busrep
Sudan’s oil production has plunged to less than 500,000 barrels per day – Sudan’s oil production has plunged to less than 500,000 barrels per day in 2008/2009, said the minister of energy in an interview with Reuters on Oct. 25. Sudantribune
ArcelorMittal South Africa has posted a headline loss of R65 million – The third quarter loss represents a substantial improvement on the R607 million loss of the previous quarter. Mbendi
SA Rand Pares Loss After Steepest Intraday Decline in One Year – The rand posted its biggest intraday decline against the dollar in more than a year as the Tokyo Financial Exchange Inc. quoted a price on its Web site that was 35 percent below the rest of the market. Bloomberg, Update by Busrep
South Africa’s unemployment rate increased by 0.9% to 24.9% Mbendi
Middle-East
Mizuho Said to Form Investment Bank in Saudi Arabia – Mizuho Financial Group Inc., Japan’s third-largest bank by market value, received a license to start offering investment-banking services in Saudi Arabia. Bloomberg
Dubai’s Drake & Scull Q3 net profit $19 mln - Dubai-based contractor Drake & Scull International DSI.DU recorded a third-quarter net profit of 71 million dirhams ($19.33 million) on Monday and said it continued to review expansion opportunities in the region. Reuters
Most clicked articles last week:
Asian leaders seek to reduce Western trade ties Reuters
No Asia without us, India reminds Asean, Japan Hindu
East Asia Needs New Economic Model, Says Najib Bernama
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