2011

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 ...

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 ...

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 ...

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.   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. ...

The World's Best Banks 2011

ANNUAL SURVEY: THE WORLD’S BEST BANKS 2011   By Gordon Platt, Antonio Guerrero, Anita Hawser and Denise Bedell   Growth Returns But Questions Linger For Banks   Banking systems in Asia and Latin America were among the first to recover ...

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.   Argentine beef exports could threaten Europe's farmer The world’s third largest trade bloc, after the EU and Nafta, comprises ...

Emerging Markets Roundup: Africa

SENEGAL LANDS SOVEREIGN RATING   By  Antonio Guerrero   Senegal received its first-ever sovereign credit rating from Moody’s in March, as the government prepared to launch its debut $500 million Eurobond.   Reaping the benefits Moody’s granted Senegal a B1 ...

Emerging Markets Roundup: Brazil

BRAZIL’S BLISTERING GROWTH RATE COULD HAVE ITS DOWNSIDE   By Antonio Guerrero   After enduring a 0.3% contraction in 2009, Brazil’s economy expanded by 7.5% in 2010, according to the country’s government.   Enjoying the excesses The sharp reversal represents ...

Brazil Faces Life After Lula

UPDATE: BRAZIL By Antonio Guerrero Brazil’s new president has already impressed the business community. But can she impress her own party? Brazilian president Dilma Rousseff, a former Marxist guerrilla fighter, has gotten high grades from the nation’s business community since ...

Emerging Markets Roundup: Africa

ROUNDUP: AFRICA By Antonio Guerrero Plans for launching a single West African currency by 2015, to be known as the Eco, are being thwarted by members’ failure to meet the program’s criteria. Zuma: Calling for help Five of the six ...

Colombia: China Evaluates Panama Canal Rival

NEWSMAKERS: COLOMBIA By Antonio Guerrero Santos: In talks with China over 250-mile rail link The first ship crossing the Panama Canal had barely completed its voyage, after the canal opened in 1914, when engineers and politicians began conspiring to build ...

Ecuador / US: Record Fine Sparks Fierce Legal Battle

MILESTONES: ECUADOR/UNITED STATES By Antonio Guerrero Still waiting: Chevron's appeal delays payment of its fine When a provincial court in Ecuador in February ordered Chevron to pay an $8.6 billion fine for damaging the rainforest, the ruling intensified an 18-year ...

Emerging Markets Roundup: Brazil

ROUNDUP: BRAZIL By Antonio Guerrero Healthy demand for Brazilian equities is driving a rush to list on Brazil’s BM&F; Bovespa Stock Exchange. BM&F; Bovespa: Business is booming With corporations showing an appetite for raising cash to finance expansion plans, the ...

Emerging Markets Roundup: Africa

ROUNDUP: AFRICA By Antonio Guerrero Government incentives are paying off for Zambia's copper sector, with output expected to surpass 740,000 tons this year for the first time, pushing it above the record highs of the early 1970s. Payback: Incentives have ...

Emerging Markets Roundup: Brazil

ROUNDUP: BRAZIL By Antonio Guerrero The Brazilian government is taking further measures to halt a currency rally that may dent the country's trade surplus, with the real having gained more than 40% against the dollar since the end of 2008. ...

Mexico: Drug War Dents Economic Recovery

MILESTONES: MEXICO By Antonio Guerrero While Mexico's economy is recovering from its worst recession in 80 years, the spread of drug-related violence is hindering a more dynamic rebound. The drug war has claimed more than 30,000 victims since president Felipe ...

Islamic Finance: A New Frontier

TRENDS: ISLAMIC FINANCE IN LATIN AMERICA By Antonio Guerrero With Islamic financial institutions seeking to expand into emerging markets in Africa and Asia, could Latin America be next? While Islamic financial institutions have aggressively expanded through Asia and Africa, Latin ...

Emerging Markets Roundup: Brazil

ROUNDUP: BRAZIL By Antonio Guerrero Rousseff: Getting off to a steady start Brazil's newly installed president, Dilma Rousseff, provided a firm indication of her administration's plan to continue the economic policies of her predecessor, Luiz Inácio Lula da Silva, by ...

Emerging Markets Roundup: Africa

ROUNDUP: AFRICA By Antonio Guerrero Electricity goes private Nigeria requires annual investments of up to $10 billion to tackle its infrastructure deficit, according to government officials in Abuja. Much of the investment would be focused on meeting the government's target ...

LatAm: Growth Brings Hope For Region’s Poorest

MILESTONES: LATIN AMERICA By Antonio Guerrero Looking up: Poverty is declining in Latin America Latin America's robust recovery from the global financial crisis is having an impact even on the poorest people in the region, according to a new report ...

2010

Emerging Markets Roundup: Brazil

ROUNDUP   By Antonio Guerrero   Doubling up: Vale plans to ramp up spending next year Mounting concerns over Banco PanAmericano's liquidity sent its shares into freefall and prompted a government bailout. The bank—Brazil's 20th largest by assets—received a $1.5 ...

Emerging Markets Focus: Latin America

COVER STORY: MUTUAL BENEFITS   By Antonio Guerrero   Latin America is enjoying growing prosperity as the region develops ever-stronger economic ties with Asia.   When Chinese President Hu Jintao took his first tour of Latin America in 2004, he ...

Emerging Markets Roundup: Africa

ROUNDUP   By Antonio Guerrero   Good to go: Tullow resolves dispute over Uganda's oil fields Uganda moved closer to becoming an oil producer after UK-based Tullow Oil reached an agreement with the government over a tax dispute. Tullow, which ...

Argentina: Unease With Profit-Sharing Plan

  NEWSMAKERS: ARGENTINA   By Antonio Guerrero   Kirchner: Hoping to mend fences with the unions A controversial profit-sharing bill submitted to Congress by Argentina's ruling coalition is becoming a proxy fight between the nation's labor and business sectors ahead ...

Emerging Markets Roundup: Africa

ROUNDUP   By Antonio Guerrero   Ghana’s mining sector gets a funding boost from China Ghana has become the leading recipient in sub-Saharan Africa of Chinese infrastructure financing, giving China unrivaled access to the country's commodities sector. Ghana signed a ...

Coming In From The Cold

ANALYSIS : CUBA   By Antonio Guerrero   For the first time in decades, signs are beginning to appear that Cuba may be softening its socialist stance.   When Cuba's former president Fidel Castro told an American journalist in September ...

Mexico: Bond Issue Breaks New Ground

MILESTONES: MEXICO   By Antonio Guerrero   Mexico’s financing needs taken care of with century bond Mexico may have set the stage for a stampede in October when it successfully issued Latin America's first-ever sovereign century bond, a $1 billion, ...

Emerging Markets Roundup: Brazil

ROUNDUP   By Antonio Guerrero   Brazil lights up at the prospect of increased foreign investment Sinopec, China's second-largest oil and gas producer, is investing $7.1 billion in the Brazilian unit of Spain's Repsol YPF oil company. The capital increase, ...

Country Focus: Peru

SECOND ACT   By Antonio Guerrero   In his second term, Peru’s president Alan Garcia is making amends for the shambles he left his country in after his first term.   Peruvian president Alan Garcia is leading one of the ...

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   Uneasy balance: Mugabe (right) and Tsvangirai still have issues with power sharing South Africa's state-owned development lender Industrial Development Corporation (IDC) plans to issue bonds and sell an estimated $3.6 billion worth of its ...

Poor Gain Better Access To Financial Services

MILESTONES: GLOBAL   By Antonio Guerrero   Despite the fact that 60% of the world's economies posted a drop in real per capita income last year, access to formal financial services in developing countries grew. According to "Financial Access 2010," ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Foreign ownership of mines in Zimbabwe challenged by law Zimbabwe's government is continuing its campaign against foreign ownership, insisting that businesses with assets of more than $500,000 must be 51%-owned by black Zimbabweans within ...

Features: The Americas - Mexico

MEXICO'S NEXT WAVE   Although it was hit hard by the downturn in the US, Mexico is setting a course for a strong recovery. Its banks are helping to stimulate renewed growth.   By Antonio Guerrero   Long controlled by ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Brazil’s leading ethanol processor seals deal with Shell Brazil's Cosan, the world's largest ethanol and sugar processor, and Royal Dutch Shell are merging their Brazilian operations in a deal valued at $12 billion. Under ...

Emerging Markets: Brazil

ROUNDUP   By Antonio Guerrero   With Brazil's economy expected to grow at around 7% this year and borrowing costs declining, Brazilian companies are seeking financing for their expansion plans. MMX, a leading metals and mining company, hopes to raise ...

Holding Steady

ANNUAL SURVEY: CENTRAL BANKER REPORT CARDS   by Gordon Platt, Antonio Guerrero and Dan Keeler   Central bankers sit tight in the face of renewed global uncertainty.   Indications that the global economic recovery is losing momentum have created a ...

Emerging Markets: Brazil

ROUNDUP   By Antonio Guerrero   Flying high: Embraer sees rise in order backlog Spain’s Telefónica agreed to buy Portugal Telecom’s stake in Vivo, Brazil’s largest mobile-telephony provider, for $9.8 billion. With 56 million clients, Vivo has an estimated 30% ...

Economic Focus: Brazil

PLAY ON   By Antonio Guerrero   Brazil is betting that its huge investment in infrastructure projects for the 2014 Soccer World Cup and the 2016 Olympics will provide long-term benefits to the country.   Just six weeks after Rio ...

Country Report: Spain

  AN ATTAINABLE GOAL     By Antonio Guerrero   Spain's economy is still under pressure, but signs of renewed confidence are slowly emerging.   When Spain beat the Netherlands in July to win the country's first-ever soccer World Cup, ...

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   Front right: Corruption fighter Goodluck Jonathan Flushed with confidence after its peaceful referendum on a new constitution, Kenya plans to issue $390 million of infrastructure bonds, the government’s fourth such issue. The bonds will ...

Emerging Markets: Brazil

ROUNDUP   By Antonio Guerrero   Petrobras, Brazil’s state-controlled oil company, is planning a $25 billion rights issue—one of the largest in history. The company hired Bank of America Merrill Lynch, Bradesco BBI, Citigroup, Itau BBA, Morgan Stanley and Banco ...

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   The African Development Bank (AfDB), which plans to increase its capital base to $100 billion, launched a $600 million fund to strengthen African banks. The fund was created through a partnership with the European ...

New Leader Promises To Heal Regional Wounds

NEWSMAKERS: COLOMBIA   By Antonio Guerrero   Juan Manuel Santos Colombians have reaffirmed their support for conservative politics and economics, electing the newest member of a growing group of right-wing Latin American leaders. President-elect Juan Manuel Santos won the run-off ...

Emerging Markets Roundup: Brazil

Roundup   By Antonio Guerrero   Hot property: Vale sells its aluminum business to Norsk Hydro In what is ranked as one of the largest acquisitions ever by a Norwegian company, Norway's Norsk Hydro aluminum producer signed a $4.9 billion ...