2012

Emerging Markets Roundup: Brazil

TIME-OUT FOR BRAZIL'S GROWTH BOOM By Antonio Guerrero Brazil's growth explosion could be ending. The Brazilian central bank in June cut the official growth target from 3.5% to 2.5% for 2012, after first-quarter GDP expansion was a meager 0.2%. Brazil's ...

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. When the Nigerian government three years ...

Emerging Markets Roundup: Africa

FEELING THE EFFECTS OF ECONOMIC CONTAGION By Antonio Guerrero The Africa Finance Corp, a multilateral finance institution based in Nigeria, says it has a pipeline of sub-Saharan investment projects worth $3 billion over the next year. The AFC has already ...

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 ones to meet ...

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 over the ...

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 ...

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 ...

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 ...

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 ...

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: 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 ...

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 ...

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

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. 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. Bumper crop: Brazil ramps up cane field production The Brazilian government has announced plans ...

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 consideration since ...

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's largest network ...

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. 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. Foster was nominated by president Rousseff Markets ...

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. 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 and another ...

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. New policies encourage local assembly of foreign ...

2011

EM Regional Review: Latin America

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. 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 pre-salt offshore oil fields. ...

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 for ...

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). 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 plan ...

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

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. 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. Brazil prepares for FIFA World Cup 2014 Brazil’s tourism industry ...

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. Gold may reduce oil dependence On the one hand, he nationalized his country’s gold mining sector. On the other, he announced ...

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. Okonjo-Iweala promises economic ...

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

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. 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. Sierra Leone’s iron ore output is becoming the country’s key export A $1.5 billion ...

Businesses On Tenterhooks After Leftist Wins Peru Election

NEWSMAKERS: PERU By Antonio Guerrero 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 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 bioethanol ...

Brazil: Admin Supports Corporate Growth

EMERGING MARKETS ROUNDUP: BRAZIL by Antonio Guerrero 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. Africa’s consumer goods boom to attract foreign ...

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. Drive thru: Latin America buys up US brand names According to ...

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. Petrobras to accelerate output from pre-salt fields The ...

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. Haiti’s president, ...

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

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