Emerging Markets

Crisis drove powershift

The global financial crisis has accelerated the shift in the balance of power from west to east, panelists at the Davos forum said Friday.
But that movement has also brought about fresh challenges on issues ranging from employment, economic development to human rights, particularly when it comes to China, they said.
Hirotaka Takeuchi from Japan’s Hitotsubashi University [...]

Beijing housing price tops 20,000 Yuan

Beijing housing price tops 20,000 Yuan (US$3K+)per square meter inside 4th Ring Road

The average price of pre-construction homes inside Beijing’s 4th Ring Road now stands at a staggering 20,515 Yuan (US$3,004.6) per square meter, according to a report by the Beijing Youth Daily Tuesday citing the Beijing Bureau of Statistics.
The figures reveal that 19.95 million [...]

Read More » No commentDecember 18, 2009

Iraq strikes deals to develop 5 more oilfields with global energy firms

The Iraqi Oil Ministry said Saturday that it has awarded World’s leading energy companies with the development contracts of 5 more oilfields on the 2nd day of the bidding.

The Russian Lukoil and its partner the Norway’s Statoil on Saturday won the right to develop Iraq’s super giant West Qurana Phase 2 oil field, Oil Minister [...]

Read More » No commentDecember 17, 2009

China Preparing International Board

China’s main stock exchange plans to launch an International Board next year that would allow foreign companies to sell shares denominated in Chinese currency for the first time.
The Shanghai Stock Exchange is working on the board as part of efforts to promote the city as a regional financial center.
A listing on a Chinese stock exchange [...]

China may run with Brazil Iron Ore

Chinese steel mills would prefer to import more iron ore from Brazil rather than Australia.
Spot iron ore vessel bookings from Brazil to China surged to a record 39 in July, from 24 in the previous month.
Vessel bookings from Australia’s main iron ore ports to China dropped to 31, down from 40 compared to the previous [...]

Hot Topic: It is Official: Indian economy likely to grow at 6.5 to 7%

The Indian Planning Commission is expecting the economic growth rate to marginally move up to 7% in the current fiscal year despite the monsoon casting its shadow on agricultural output, said an official on Tuesday.
“I think economic growth during 2009-10 should be between 6.5 and 7% and it will be quite a good outcome,” Planning [...]

Hot Topic: China’s urban fixed asset investment to rise 40% in Y 2009

China’s urban fixed asset investment was likely to rise by 40 percent year on year in 2009, Lian Ping, chief economist of Bank of Communications (BOCOM), told Xinhua Sunday.
Government figures showed that benefiting from the massive government spending in the construction of railways, roads and infrastructure, China’ urban fixed asset investment rose 33.6 percent in [...]

China stocks gain 15 pct in July, biggest in two years

HK shares rally for 5th month, up 3% on week. Both markets recorded another month of hefty gains in July, the seventh successive monthly gain for Shanghai and the fifth winning month for Hong Kong, fuelled by positive earnings momentum and analyst upgrades.
In the absence of a major disappointment in US economic data due next [...]

Curbs to ease on outflows

China is to temper controls on overseas lending to help mainland firms invest abroad and to channel the outflow of the country’s ballooning foreign exchange reserves.Companies will be allowed to lend as much as 30 percent of the value of their total equity to units abroad.The State Administration of Foreign Exchange also said it will [...]

Asia’s biggest refiner seen on the prowl for Canadian assets

China Petroleum & Chemical Corporation – Asia’s biggest refiner by capacity – may be in talks to buy stakes from Canadian oil and gas exploration company Addax Petroleum Corp.Addax, which is listed in Toronto and London, acknowledged a preliminary discussion without naming the firm. A spokesman for the mainland refiner’s listed arm, Sinopec (0386), said [...]