This column highlights the past week's best financial news and commentary on emerging markets from around the Web.
Link: BP Will Switch Russian Partners Through a Deal with Rosneft
“After years of feuding with its longtime Russian partners, the British oil giant BP
(NYSE:BP) has formally filed for divorce and announced plans to move in with someone wealthier and more powerful: the Russian state oil company Rosneft
(MCX:ROSN). On Monday, BP said it had agreed to sell most of its business in Russia to Rosneft as part of a complex package of deals worth a total of $55 billion.”
Link: 2 Low-Volatility ETFs for Emerging Markets
“The emerging market story is an appealing investment idea....For instance, the iShares MSCI Emerging Markets Minimum Volatility Index Fund
(NYSEARCA:EEMV) tries to reflect the performance of the MSCI Emerging Markets Minimum Volatility Index, which tracks emerging market stocks that exhibit lower absolute volatility...”
Link: Wal-Mart Entry Spurs TCI Spending on Logistics
“Transport Corp. of India, the nation’s third-largest logistics company, plans its biggest investment in five years to prepare for a jump in freight demand as retailers such as Wal-Mart Stores Inc.
(NYSE:WMT) open stores...”
Link: Canada, Petronas-Progress and CNOOC-Nexen: the Bright Side
Ottawa rejected a $5bn bid from Petronas, the Malaysian state-owned oil company, to acquire Canadian company Progress Energy
(NYSE:PGN), sending a shockwave through the Chinese dealmaking community. A $15bn bid by CNOOC
(NYSE:CEO) for oil group Nexen
(NYSE:NXY) has been approved by the shareholders of both companies but awaits the OK from Canadian regulators. If Ottawa could turn Petronas away, it could shun CNOOC, too.
Link: Emerging Stocks Drop as Company Earnings Disappoint
“Emerging-market stocks fell, with the benchmark index heading for its biggest drop in two weeks, as concern deepened the global economic slowdown is hurting corporate earnings and commodities erased this year’s gains...The MSCI Emerging Markets Index
(NYSEARCA:EEM) fell 0.8 percent, the most since Oct. 8 on a closing basis, to 999.06...”
Industry Leaders Magazine
Link: Philips Q3 Results Lifted by Emerging Markets
“Royal Philips Electronics NV
(NYSE:PHG) informed that its earnings in the third quarter almost doubled. Philips Electronics third-quarter results benefited from growth in emerging markets as well as the cost cuts implemented lately. Royal Philips Electronics believes that it is on a “good trajectory” to meet its 2013 targets.”
Link: Smartphones Not Required - Mobile Money on Feature Phones Is Hot in Emerging Markets
“The most successful mobile money services are currently use in Africa, such as M-Pesa which is now reputedly processing something close to 10% of the GDP of Kenya...However, it’s now the Asia-Pacific region that is expected to become the most important regional market, accounting for nearly two-thirds of the active mobile money user base in 2017....Startups are noticing. Last year Boston-based TxtEagle raised $8.5 million from a consortium including Spark Capital and RBC Venture Partners, in order to partner with 220 mobile operators in almost 100 countries who between them cover 2.1 billion subscribers.”
No positions in stocks mentioned.
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