Emerging Markets
Report sees emerging markets leading global growth - The world economy will start growing again in 2010 but emerging markets will accelerate at a much faster rate than the U.S and Europe, due in part to continued frugality among Western consumers, a new report says. AP
Dubai Shouldn’t Hurt Latin America, World Bank Says - Latin America is better positioned than other emerging markets to withstand fallout from a possible Dubai debt default because its economy is in better shape, said Pamela Cox, the World Bank’s vice president for Latin America. Bloomberg
Ex-guerrilla easily wins Uruguay presidency - President-elect Jose Mujica retreated to his flower farm and shunned the spotlight on Monday, saying that dumping more talk on Uruguayans after a speech-filled campaign “would be like raining on what is already wet.” AP
Exclusive: Banco do Brasil eyes U.S., Latin takeovers: CEO – Banco do Brasil (BBAS3.SA), Latin America’s largest bank by assets, may seek acquisitions in the United States, looking to benefit from “devalued” prices among regional lenders, Chief Executive Aldemir Bendine said in an interview. Reuters
Brazil Real ‘Most Overvalued’ Currency, Goldman Says – Brazil’s real is the “most overvalued” currency as a “wall of money” coming into Latin America’s biggest economy may overwhelm government efforts to curb its rally, said Goldman Sachs Group Inc. BloombergBrazil: Chinese Buy Stake in MMX Steel - The Wuhan Iron & Steel Group, a Chinese steelmaker, agreed to pay $400 million for a stake in Brazil’s MMX Mineracao e Metalicos to broaden its supply of iron ore. NYTimes
Asia Pacific/Pacific
Christmas in Asia – The Christmas celebrations are turning out to be an important revenue stream for the non-Christian economies in Asia. Christmas has become so popular in Asia that no retailer would want to miss this chance. American Daily
Obama & Asia – What is the feeling now that Obama has left and the dust has settled? ZanesVille
Japanese exports jump – The low value of the Japanese Yen against the Euro and USD has spurred a large demand in exports. Bloomberg
Asia seems to be future – The World Bank now bets on Asia as being the main driver for recovery of the world economies. Reuters, The Australian, AFP
South-Asia epicenter for Islamic fundamentalism – Admiral Mike Mullen, Chairman of the U.S. Joint Chiefs of Staff, announces South-Asia as being the hub for Islamic extremists. RTT
Asians invade US – Random Story: The Asian carp is causing hamock in the Great Lakes where the great Asian carp threatens the entire fishing industry. CBS
Africa
Eskom Seeks $5.4 Billion in Funding, Cuts Tariff Plan – Eskom Holdings Ltd., South Africa’s state utility, scaled back plans to increase tariffs 45 percent after hostility from companies and unions, saying it will delay projects and seek private investment to meet a cash shortfall. Bloomberg
Looted wealth fuels Congo’s conflict – President Paul Kagame of Rwanda is no neutral observer when it comes to the Democratic Republic of Congo. His attempts to mould events there have often exacerbated a conflict now in its 14th year. FT
Oil majors invest $21 billion in deepwater operations - Oil majors operating in Nigeria have invested more than $21 billion (about N2.9 trillion) in the deepwater developments under the Producing Sharing Contract (PSC), a senior official of Chevron Nigeria Limited revealed on Monday. 234Next
Builders turn to technology to cut cost of houses - The escalating cost of houses has locked out many people from having a decent shelter over their heads. But the use of new building materials such as Prefabricated Structural Insulated Panels (SIPs) to put up houses may change this. Business Daily Africa
Where should Africa turn for funds? – Small report on a debate on investment prospects in Africa involving private sector panellists and representatives of the World Bank and International Monetary Fund. Reuters
Rwanda – first landmine-free country – Rwanda has been declared free of landmines – the first country to achieve this status. BBC
