IBTimes.com : Emerging Markets Topic

Tax could cost UBS up to 10 percent of Europe assets

Sat, 26 May 2012 07:42:02 EDT

UBS AG could see up to 10 percent of its European assets of 300 billion Swiss francs (199.52 billion pounds) moved out due to pressure to clamp down on untaxed accounts, the head of the wealth management business was quoted as saying on Saturday.

Toyota To Add 8 New Cars For 'Driving To A Picnic' In Emerging Markets

Fri, 25 May 2012 17:25:25 EDT

The Toyota Motor Corp. (NYSE: TM) wants to make itself king of the hill once more and reclaim the No. 1 global sales position from the General Motors Co. (NYSE: GM) by adding eight compact cars for emerging markets, Reuters said Friday.

Wall Street slips on Greek caution before long weekend

Fri, 25 May 2012 12:49:03 EDT

Stocks declined slightly on Friday as warnings about Greece kept investors cautious before a three-day holiday weekend, with shares likely to drift lower into the close.

Goldman Sachs, Bank of America Downgrade India's Growth Outlook

Fri, 25 May 2012 09:27:34 EDT

India's growth story comes crashing with Goldman Sachs and Bank of America-Merrill Lynch being the latest global firms to downgrade economic forecasts for the country on Friday.

European Crisis Live: Stocks Turn Negative as Spain's Catalan Region Says Needs Financial Support

Fri, 25 May 2012 02:51:47 EDT

Asia shares erase yearly gains and Japan hits a 20-year weekly losing streak as investors flee risky bets across global markets

Weaker Euro Zone Economy Sends dollar Higher

Thu, 24 May 2012 08:36:36 EDT

The U.S. dollar climbed to a 20-month high and safe-haven German bonds set record low yields, after data showed Europe's economic woes intensifying as business confidence is undercut by talk of a Greek exit and slow progress in tackling the debt crisis.

Prada to Expand in Emerging Markets, to Open 260 Stores in Three Years

Thu, 24 May 2012 04:51:11 EDT

Prada unaffected by eurozone crisis or Chinese slowdown.

Burberry Shares Drop as Investment Set to Hit Profits

Wed, 23 May 2012 04:15:21 EDT

Burberry reported full-year profits of £366m - a 24 percent rise - but said a new investment of around £200m could hit future profitability.

Specialist banks cherry pick from lay-offs

Wed, 23 May 2012 03:35:02 EDT

Small investment banks and brokerages in Europe are making the most of a hiring shutdown and cuts at bigger rivals, cherry picking staff frustrated by new pay rules and uncertainty over strategy.

MetLife to outline growth plan, eyes emerging markets

Wed, 23 May 2012 01:35:02 EDT

MetLife Inc , the largest U.S. life insurer, said it plans to refocus its U.S. business and will seek to grow in emerging markets as part of a strategic plan that is set to be unveiled later on Monday.

Lenovo fourth quarter net profit up 59 percent, meets forecasts

Wed, 23 May 2012 00:49:02 EDT

Lenovo Group Ltd <0992.HK>, the world's No.2 PC maker by sales, reported a 59 percent rise in fourth-quarter net profit, meeting analyst expectations as strong demand in emerging markets such as China offset weakness in Europe.

Vodafone takes £4 billion writedown on European weakness

Tue, 22 May 2012 11:28:02 EDT

Mobile operator Vodafone wrote down the value of its assets by 4 billion pounds ($6.3 billion) and cut its medium-term sales target on Tuesday, as the debt crisis hit customers in southern Europe, forcing them to save money on phone calls.

Vodafone takes $6.3 billion writedown on European weakness

Tue, 22 May 2012 11:28:02 EDT

Vodafone takes 4 billion stg writedown on European weakness

Tue, 22 May 2012 11:14:02 EDT

Accor Sells Motel 6 To Blackstone For $1.9 Billion

Tue, 22 May 2012 09:56:57 EDT

French hotel giant Accor SA (Paris: AC) said Tuesday it will sell the underperforming Motel 6 U.S. budget hotel chain to asset manager Blackstone Group LP for $1.9 billion, as part of an effort to cut debt and shift focus from the U.S. to fast-growing emerging markets.

Vodafone cuts sales target on weak European markets

Tue, 22 May 2012 03:00:04 EDT

Vodafone cut a medium-term sales growth target on Tuesday as customers in southern Europe slashed spending and regulators upped the pressure on the world's largest mobile operator.

Vodafone cuts revenue outlook on European woes

Tue, 22 May 2012 02:35:02 EDT

Vodafone lowered a medium-term target for revenue growth on Tuesday as consumers in southern Europe slashed spending and regulators upped the pressure on the world's largest mobile operator.

The Energy Report - Historic

Mon, 21 May 2012 11:03:22 EDT

Oil traded down to the 90 handle before bouncing a bit as we head into what will be a historic week in energy. We will see the first oil in the gulf from the reversal of the Seaway Pipeline, a watershed event that is symbolic of the changing energy dynamic here and around the globe.

Falling Indian Rupee: Finance Minister Says Government Is Trying to Resolve The Issue

Sun, 20 May 2012 09:01:00 EDT

Indian Finance Minister Pranab Mukherjee Sunday expressed concern over the depreciation of the rupee.

Indian Rupee Slumps To Record Low Against US Dollar

Fri, 18 May 2012 04:03:51 EDT

The Indian rupee fell to a record low Friday as it succumbed to pressures of the debt crisis looming over the euro zone and the weak domestic indicators.

Euro zone fears spark rush for dollar, global shares fall

Fri, 18 May 2012 03:42:02 EDT

German government bond yields hit record lows on Friday, the U.S. dollar rose and shares fell as the escalating bank crisis in Spain, a ratings downgrade for Greece and sluggish U.S. data spurred investor demand for safe-haven assets.

Overseas Companies Are Worth A Look

Thu, 17 May 2012 08:16:49 EDT

With uncertainty in Europe spooking investors away from any asset perceived as risky, many Americans have become wary of overseas equities. While the fear is understandable, it may be keeping us away from some of the world's most promising economies.

Euro zone fears pressure global shares, euro steadies

Thu, 17 May 2012 06:00:04 EDT

The euro hovered near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro zone economies.

China Gold Demand Hits Record, India Loses Biggest Gold Market Tag to China

Thu, 17 May 2012 04:24:05 EDT

World Gold Council says Chinese demand is driven by market curbs on real estate sector and as a hedge against inflation.

German GDP Rebounds Sharply, Avoids Recession

Tue, 15 May 2012 08:50:22 EDT

German economic growth rose well above expectations in the first quarter this year, proving that the contraction in country’s gross domestic product (GDP) in the fourth quarter last year was not the start of recession.

Strong GDP Data Lends Support to EUR

Tue, 15 May 2012 08:46:58 EDT

The euro (EUR) rose against its major counterparts on Tuesday following the release of better-than-expected growth data in Germany and eurozone, although concerns over Greece exiting the eurozone remain intact weighing on the single currency.

Nokia's new cheap models bet on games, web access

Tue, 15 May 2012 08:21:02 EDT

Nokia patched up its ailing basic phones offering on Tuesday with two models offering access to games, applications and the Internet, hoping to regain its footing in emerging markets.

CORRECTED-Nokia launches low-end cellphones

Tue, 15 May 2012 05:42:04 EDT

Nokia launched two low-end cellphones on Tuesday, aiming to regain its footing in emerging markets.

Nokia launches low-end cellphones

Tue, 15 May 2012 05:42:03 EDT

Nokia launched two low-end cellphones on Tuesday, aiming to regain its footing in emerging markets.

Nokia launches low-end smartphones

Tue, 15 May 2012 05:21:02 EDT

Nokia launched two low-end smartphones on Tuesday, aiming to regain its footing in emerging markets.

Shares, commodities fall again as Greek risks dominate

Tue, 15 May 2012 00:00:03 EDT

Shares and commodities fell again on Tuesday as investors sought refuge from the political turmoil fuelling fears of Greece's exit from the euro and threatening to undo progress made so far to solve Europe's debt crisis.

China acts to boost loans, bolster flagging economy

Sat, 12 May 2012 14:49:02 EDT

China's central bank cut the amount of cash that banks must hold as reserves on Saturday, freeing an estimated 400 billion yuan ($63.5 billion) for lending to head-off the risk of a sudden slowdown in the world's second-largest economy.

Cameron backs insurers on EU capital rules

Fri, 11 May 2012 11:35:02 EDT

Prime Minister David Cameron on Friday said his government would fight to make sure Europe's proposed Solvency II capital rules for the insurance industry did not put insurers in Britain at a disadvantage.

Top Global Stock Indexes Expected to Finish 2012 With Solid Gains

Fri, 11 May 2012 09:28:59 EDT

The booming emerging markets may spearhead a further rise in global stock indexes as the growth spurt enjoyed by some major Western markets since the start of the year declines.

Intel CEO plays down concerns about tech spending

Thu, 10 May 2012 15:35:02 EDT

Intel Corp Chief Executive Paul Otellini said he is not seeing unexpected weakness in enterprise technology spending that Cisco CEO John Chambers cited when he forecast quarterly earnings below estimates.

Why Greece Might Become a Black Swan Event

Thu, 10 May 2012 14:34:14 EDT

On the eve of the Greek default I wrote regarding the possibility of the Greece action becoming a Black Swan, now it is clear that Europe is on the edge of a Black Swan Event. As deleveraging pressures grew towards the end of 2011, European banks offered for sale a significant volume of assets, notably those with high risk weights or market prices close to holding values.

Collusion Discovered Between Central Drugs Standard Control Organization (CDSCO), Pharma Firms

Thu, 10 May 2012 10:39:40 EDT

Officials of India's drug regulator have been colluding with pharmaceutical firms to speed up approval procedures, allowing some drugs that are not permitted in other countries to go on sale, according to an 18-month investigation by lawmakers.

GM-PSA steering committee meets, plans take shape

Wed, 09 May 2012 15:28:03 EDT

General Motors Co and PSA Peugeot Citroen are hammering out agreements for the projects they want to tackle together as part of their new global alliance, including expanding the number of vehicles they will build on shared platforms.

M&A opportunities remain in Europe E&P industry - Goldman

Wed, 09 May 2012 07:35:04 EDT

Goldman Sachs raised its price target on several European exploration and production companies and said there were opportunities for deals in some assets in the sector.

Norway Invests More on Emerging Markets, Dumps Euro Zone Debts

Tue, 08 May 2012 19:47:50 EDT

Norway's sovereign wealth fund has sold off its entire holdings in Irish and Portuguese government bonds, and reduced their share of Spanish and Italian bonds.

Daily Summary on USD, Euro, GBP, JPY, CAD, AUD and NZD

Tue, 08 May 2012 13:13:06 EDT

The dollar is stronger against nearly all of its major counterparts this morning as resurgent concerns over the health of the global economy spurs on a flight to safety. With no major data to persuade investors otherwise, demand remains strong for the dollar on the general outperformance of the US economy and on its continued status as the default global reserve currency.

Investment bank, cost cuts help HSBC top forecasts

Tue, 08 May 2012 07:14:02 EDT

HSBC <0005.HK> beat expectations with an underlying first-quarter profit of $6.8 billion (4.2 billion pounds) as Europe's biggest bank saw a rebound in investment banking, growth in Asia and a fall in U.S. bad debts.

InterContinental Hotels Group Capitalises Robust Chinese Demand to Drive Future Growth

Tue, 08 May 2012 06:34:29 EDT

Credit Suisse raised IHG's full-year 2013 profit earnings per share by 7 percent and observes scope for 32 percent improvement to 2014 consensus estimates, provided sustained trading momentum.

Australian Beef Industry Forecasts 30 Million Head Herd in 2012

Mon, 07 May 2012 23:30:14 EDT

The future is still bright for Australia beef industry. According to a report released on Monday at the Beef Australia 2012 summit, the country's cattle herd is expected to reach 30 million heads this year. It would be the peak since the 1970s.

Investment bank bounce seen lifting HSBC profit

Mon, 07 May 2012 19:21:02 EDT

HSBC <0005.HK> was set to report quarterly profit of almost $6 billion (3.7 billion pounds) on Tuesday as Europe's biggest bank benefits from a rebound in investment banking income and falling bad debts, although it is struggling to cut costs.

Austerity Vs Growth Is A False Debate: IMF’s Lagarde

Mon, 07 May 2012 14:08:54 EDT

The debate over austerity versus growth is a false choice for policymakers, International Monetary Fund Managing Director Christine Lagarde said on Monday.

March German Factory Orders Up, Led By Demand Outside of Euro Zone

Mon, 07 May 2012 11:05:03 EDT

Germany's Economics and Technology Ministry reported Monday factory orders rose in March, spurred primarily by businesses looking away from the euro zone and to the United States and emerging markets. Orders rose 2.2 percent from February, spurred by a 4.8 percent growth in export orders from outside the currency zone.

James Bond’s Luxury Cars in New Delhi: Aston Martin Opens Second Showroom in India

Sat, 05 May 2012 06:29:11 EDT

Aston Martin, a fleet of British luxury sports cars featured in quite many James Bond films, opened its second showroom in India in the up-market South Delhi on Friday.

No escaping European risks

Fri, 04 May 2012 19:21:03 EDT

The prospect of political risks joining economic and debt problems on the euro zone's list of worries, just as the outlook for global growth becomes uncertain, will keep investors focused firmly on safety plays in the coming week.

Energy Market in the Caribbean

Fri, 04 May 2012 12:23:20 EDT

The islands of the Caribbean basin are predominantly net energy importers, with the exception of Trinidad and Tobago, which is a major exporter of liquefied natural gas (LNG). Venezuela provides a sizable amount of crude oil and refined products to its Caribbean neighbors at below-market prices and with favorable financing terms under the Petrocaribe initiative.