2012

Country Report: Nigeria

TIME FOR CHANGE


By Antonio Guerrero

Nigeria holds great promise with its massive oil reserves, but endemic corruption, unfettered militant attacks on pipelines and lack of regulatory clarity could halt progress in its tracks.

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When the Nigerian government three years ...

Emerging Markets Roundup: Brazil

FIRST IPO BY A BRAZILIAN INVESTMENT BANK

By Antonio Guerrero

BTG Pactual launched the first IPO by a Brazilian investment bank in April, with its $2 billion IPO on the São Paulo Stock Exchange and simultaneous depositary receipts listing in ...

Emerging Markets Roundup: Africa

SABMILLER MAKES MORE AFFORDABLE LOCAL BEER

By Antonio Guerrero

The UK’s SABMiller, the world’s second-largest brewer, plans to invest up to $2.5 billion in Africa over the next five years to build new breweries and revamp existing ...

Emerging Markets Roundup: Africa

PLATINUM MINING PROJECT PROMISES BIG REWARDS

By Antonio Guerrero

South Africa’s state-owned Industrial Development Corporation (IDC) has entered into a $420 million public-private partnership to develop a mine that could become one of the world’s largest platinum producers ...

World’s Best Banks 2012: Middle East

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

MIDDLE EAST

The oil-exporting countries of the Middle East are enjoying strong economic growth, whereas countries that experienced political uprisings during the Arab Spring of 2011 are struggling to get back ...

World’s Best Banks 2012: Africa

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

AFRICA

Not only is Africa rich in natural resources, but it also offers the promise of fast economic growth in a number of countries, and a population lacking basic banking services ...

World’s Best Banks 2012: North America

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

NORTH AMERICA

North America’s banks are well along the road to recovery from the financial crisis, amid signs of improvement in the US and Canadian economies. The Federal Deposit Insurance ...

World’s Best Banks 2012: Asia

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

ASIA

Asia has provided one of the few bright spots in the global economy in recent years. The region rebounded quickly from the global financial crisis and has thus far avoided ...

Emerging Markets Roundup: Brazil

STIMULUS PACKAGE TARGETS BUSINESS LOANS

By Antonio Guerrero

In a bid to support economic growth, the Brazilian government in April rolled out new tax cuts worth as much as $5 billion and put through a stimulus package including BRL45 billion ...

World’s Best Banks 2012: Latin America

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

LATIN AMERICA

With its developing middle class, the region’s growing consumer sector helped banks to continue posting healthy returns last year. Banking sector assets and profits were up throughout the ...

World’s Best Banks 2012: Europe

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

EUROPE

Europe’s banks are being pulled in two directions. Governments want them to lend more, especially to small- and medium-size enterprises, while European and national regulators require them to strengthen ...

Africa's Rising Consumer Class

LAND OF OPPORTUNITY

By Antonio Guerrero

A number of African markets may be on the verge of massive growth—fueled by a rising consumer class.


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Given the long-standing reputation for political and economic volatility in some African markets, many global ...

Emerging Markets Roundup: Africa

SOUTH AFRICAN MINING TO GET VENTURE CAPITAL INCENTIVES

By Antonio Guerrero

South African finance minister Pravin Gordhan will grant a major venture capital incentive for SME mining companies.

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South Africa: Investing in small mining operations

South African finance minister Pravin ...

Emerging Markets Roundup: Brazil

ENVIRONMENTAL FUNDING GETS THE GREEN LIGHT

By Antonio Guerrero

The Brazilian government will invest $35.4 billion to increase sugar cane production for the booming ethanol industry.

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Bumper crop: Brazil ramps up cane field production

The Brazilian government has announced ...

Emerging Markets Roundup: Africa

SA-SWAZILAND RAILWAY LINK (FINALLY) GETS THE GREEN LIGHT

By Antonio Guerrero

Transnet, South Africa's state-owned transit and logistics company, and Swaziland Railway have joined forces to complete a $2.2 billion railway linking their two countries, a plan under ...

Emerging Markets Roundup: Brazil

E.ON AND MPX ENERGIA PARTNER ON POWER PLANTS


By Antonio Guerrero

E.ON, the German power utility, is partnering with MPX Energia, a power company controlled by Brazilian billionaire Eike Batista, to launch a joint venture to build Brazil ...

Regional Focus: Latin America

FOR BETTER OR FOR WORSE

By Antonio Guerrero

While neither Brazil nor Uruguay have any trade pacts aside from Mercosur, Chile and Mexico have many agreements in place. The two strategies have met with varying success.

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When the US approved ...

Foster Becomes CEO At Petrobras

NEWSMAKERS: BRAZIL

By Antonio Guerrero

Graças Foster, 58, was appointed CEO of Brazil's Petrobras state-controlled oil company in February, becoming the first woman ever to head one of the world's top oil operations.

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Foster was nominated by president ...

Rousseff Declares 2012 A New Era Of Prosperity For Brazil

NEWSMAKERS: BRAZIL

By Antonio Guerrero

Brazilian president Dilma Rousseff, a former technocrat and Marxist activist, completed her first year in office on January 1 with a 72% approval rating.

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Rousseff: A pragmatist with no tolerance for corruption

Rousseff, who was ...

Emerging Markets Roundup: Africa

NIGERIA BUILDS BIOFUEL CAPACITY AS ZIMBABWE BRACES FOR ENERGY SHORTAGE

By Antonio Guerrero

The Nigerian government has signed a memorandum of understanding with Global Biofuels, a Nigerian biofuels producer, for the construction of 15 integrated biofuels refineries at an investment ...

Emerging Markets Roundup: Brazil

STATE-OWNED BANKS TO BOOST ENDING

By Antonio Guerrero

Brazil's government is investing more than $500 million this year recapitalizing two state-controlled banks to boost lending.

The nation's Treasury will invest $269 million in the BNDES national development bank ...

Emerging Markets Roundup: Africa

NIGERIAN INBOUND INVESTMENT FRAMEWORK IMPROVING

By Antonio Guerrero

Nigerian President Goodluck Jonathan says his administration is reviewing industrial policies to encourage foreign companies exporting finished goods to Nigeria to instead manufacture them locally.

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New policies encourage local assembly of foreign ...

2011

EM Regional Review: Latin America

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PREPARING FOR THE WORST

By Antonio Guerrero

Latin American countries are starting to build reserves and diversify economies to brace for a possible global downturn. The question is whether it will be enough to protect the export-driven region.

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When Latin ...

Emerging Markets Roundup: Brazil

PETROBRAS TO SELL OFF ASSETS WORLDWIDE

By Antonio Guerrero

Brazil’s state-controlled Petrobras oil company is selling its worldwide noncore assets to support a $224 billion capital expenditure plan for 2012–15—which will fund development of the country’s ...

Emerging Markets Roundup: Africa

SOUTH AFRICA EASES RULES ON FOREIGN OWNERSHIP

By Antonio Guerrero


South Africa’s National Treasury is studying a plan to allow offshore companies traded on the Johannesburg Stock Exchange (JSE), known as inward-listed companies, to be regarded as domestic firms ...

Emerging Markets Roundup: Africa

BOOSTING SME AGRICULTURE INVESTMENT

By Antonio Guerrero

The United States Agency for International Development (USAID) has partnered with several non-profit organizations to launch the African Agricultural Capital Fund (AACF).

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New fund will stimulate agriculture sector

The fund aims to boost ...

Emerging Markets Roundup: Brazil

NEW OIL FIELDS TO ATTRACT BIG INVESTMENT

By Antonio Guerrero

Brazilian authorities remain optimistic that they will be able to sign an agreement with Taiwanese manufacturer Foxconn Technology, the world’s largest contract electronics producer, for a $12 billion investment ...

Country Report: Brazil

SEARCHING FOR BALANCED SOLUTIONS

By Antonio Guerrero

Investors are awaiting the outcome of recent rate cuts in Brazil. Whether it will prove proactive or premature remains to be seen.

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Citing a substantial deterioration in the global economy, Brazil’s central ...

Emerging Markets Roundup: Africa

PUBLIC-PRIVATE PARTNERSHIPS TO FINANCE INFRASTRUCTURE UPGRADES

By Antonio Guerrero

Tanzania plans to invest $742 million by the end of 2012 to tackle its crippling energy deficit.

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African energy projects to get PPP boost

Under an emergency power rescue investment plan ...

Regional Report: Africa

CLOUDY HORIZONS

By Antonio Guerrero

While South Africa is attempting to get out from under its recession, countries in sub-Saharan Africa are dealing with the impact of volatile global oil markets and decreased investment from their neighbor to the south ...

Emerging Markets Roundup: Brazil

INVESTMENT SPREE FOR FIFA WORLD CUP AND OLYMPICS

By Antonio Guerrero

Brazil is preparing for a major investment spree ahead of the 2014 FIFA World Cup and 2016 Olympic Games.

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Brazil prepares for FIFA World Cup 2014

Brazil’s tourism ...

Chavez Banks On Gold Repatriation And Privatization

MILESTONES: VENEZUELA

By Antonio Guerrero

Venezuelan President Hugo Chavez in August gave the world’s gold markets a double-fisted punch.

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Gold may reduce oil dependence

On the one hand, he nationalized his country’s gold mining sector. On the other ...

Daunting Task For New Economy And Finance Minister

NEWSMAKERS: NIGERIA

By Antonio Guerrero

Nigeria’s new economic chief, former World Bank managing director Ngozi Okonjo-Iweala, says she will focus much of her efforts on diversifying her nation’s economy away from overdependence on oil and gas revenues.

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Okonjo-Iweala ...

Country Report: Spain

UPHILL BATTLE

By Antonio Guerrero

Spanish banks are struggling to regain momentum in the face of a sluggish economy and the need for further restructuring.

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Three years after Spain’s decade-long real estate bubble burst, the country’s banks are ...

Emerging Markets Roundup: Brazil

TAX BREAK PLAN TO PROVIDE RELIEF FOR MANUFACTURERS

By Antonio Guerrero

The Brazilian government unveiled a $25 billion plan to provide relief to domestic producers.

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Tax breaks to help beleaguered Brazilian manufacturers

Responding to concerns from local industries battered by ...

Emerging Markets Roundup: Africa

CHINESE INVESTMENT BOOSTS SIERRA LEONE IRON ORE SECTOR

By Antonio Guerrero

China’s Shandong Iron & Steel Group (SISG) takes a 25% stake in Britain’s African Minerals.

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Sierra Leone’s iron ore output is becoming the country’s key export ...

Businesses On Tenterhooks After Leftist Wins Peru Election

NEWSMAKERS: PERU

By Antonio Guerrero

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Humala: Investors’ friend?

The election of leftist leader Ollanta Humala as president of Peru after a June run-off has unleashed concerns among the business leaders who feel the former coup-plotter may impose radical policies when ...

Africa: Ethanol May Trigger Food Fight

EMERGING MARKETS ROUNDUP: AFRICA

by Antonio Guerrero

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Sierra Leone opts for controversial biofuel production

Africa is poised to enter the world’s growing biofuels market. The biotechnology unit at Addax, a Switzerland-based investment firm, plans to open a $366 million ...

Brazil: Admin Supports Corporate Growth

EMERGING MARKETS ROUNDUP: BRAZIL

by Antonio Guerrero

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Brazilian companies take flight

Board members at Petrobras, the Brazilian state oil company, are calling on the company to tame costs linked to its $224 billion 2011-2015 spending plan. The investment program seeks ...

Emerging Markets Roundup: Africa

INVESTORS FALL FOR AFRICA’S CHARMS

By Antonio Guerrero

Foreign direct investment into Africa will reach $150 billion a year by 2015, according to a May report by global accounting firm Ernst & Young.

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Africa’s consumer goods boom to attract ...

Multilatinas Extend Reach Into Developed Markets

MILESTONES: LATIN AMERICA

By Antonio Guerrero

While Latin America led the world in FDI growth last year, the region’s companies also forged ahead with an aggressive international expansion drive.

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Drive thru: Latin America buys up US brand names

According ...

Emerging Markets Roundup: Brazil

SPENDING BOOST PLANNED TO LIFT OIL OUTPUT

By Antonio Guerrero

Brazil’s Petrobras state-controlled oil company plans to more than double its investments to develop the country’s pre-salt offshore oil fields through 2015.

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Petrobras to accelerate output from pre-salt ...

Martelly Counts On Foreign Investment To Rebuild

NEWSMAKERS: HAITI

By Antonio Guerrero

Haiti’s president Michel Martelly, who took office on May 14, has the unenviable task of rebuilding Haiti after the January 2010 earthquake that killed nearly 300,000 and left some one million people homeless ...

Emerging Markets Roundup: Brazil

Brazil Ups Taxes On Sugar To Boost Ethanol Output

By Antonio Guerrero

The US Export-Import Bank announced a $3 billion credit line for Brazil to purchase goods and services from US providers.

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Sweet deal: Brazil’s sugar mills urged to ...

Regional Report: China in Africa

Pause For Thought

By Antonio Guerrero

Recent popular uprisings in North Africa and beyond may be causing China to slow its headlong rush into the continent.


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Over the past decade, China has become a key source of investment, aid and ...

Emerging Markets Roundup: Africa

ETHIOPIA POWERS UP GENERATION PLANS

By Antonio Guerrero

Ethiopia in April launched a $4.7 billion project to build Africa’s largest hydropower plant.

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Drawing on the power of the Nile

Ethiopia in April launched a $4.7 billion project ...

Santos Raises Colombia’s Profile

NEWSMAKERS : COLOMBIA

By Antonio Guerrero


Less than a year after being sworn in, Colombia’s president Juan Manuel Santos is helping put his country back on the radar for investors scared away by guerrilla rebels and drug lords.

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Santos: Colombia ...

Mercosur Turns 20 And Ruffles EU Feathers

MILESTONES: MERCOSUR

By Antonio Guerrero

The Southern Cone Common Market (Mercosur) is celebrating its 20th anniversary this year.

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Argentine beef exports could threaten Europe's farmer

The world’s third largest trade bloc, after the EU and Nafta, comprises Argentina ...