Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Best of the Blogs, Emerging Markets: S&P Downgrade Leaves India in Peril

By

Plus, Malaysia's Felda moves ahead with an IPO.

PrintPRINT
This column highlights the most interesting and useful financial commentary on emerging markets from around the Web every Monday.

Financial Times: AlphaVille
Link: Are the Brics going to lose an I?
"That's the Standard & Poor's latest warning on India, coming just two months after it revised the country's BBB- rating (one notch above junk) from stable to negative as GDP growth fell to 5.1 per cent in the first quarter. Are the Brics about to become the Brcs?

"The key question is how the government reacts to the forecast slowing growth and economic shocks. If it's too slow or ineffective, Joydeep Mukherji and Takahira Ogawa at S&P argue, India may end up as the first 'fallen angel' among the Bric nations."

The Wall Street Journal: Deal Journal India
Link: Vedanta Buys L&T Unit Stake
"Vedanta Resources PLC (VED.L) has acquired a 24.5% stake in a unit of Larsen & Toubro Ltd. (LT.NS) that holds key licenses for aluminium ore mines in eastern Indian state of Orissa, for 2.01 billion rupees, a filing with US Securities and Exchange Commission showed.

"The India focused mining group has offered up to 18.11 billion rupees (about $326.8 million) to take complete control of the unit, Raykal Aluminium Co. Pvt. Ltd., a move that would give it access to key raw material required for its aluminium plants in Orissa state, the form 6-K filing showed."

The New York Times: DealBook
Link: Felda Moving Ahead with $3.2 Billion I.P.O. in Malaysia
"Facebook's (FB) botched Nasdaq debut last month may have cast a pall over the global market for new listings, but the Malaysian palm oil producer Felda Global Venture Holdings still plans to raise up to $3.2 billion this week in the world's second-biggest initial public offering this year, according to a person with direct knowledge of the deal."

Reuters
Link: Analysts cut Brazil GDP growth, inflation forecasts
"Analysts trimmed their Brazilian economic growth and inflation rate forecasts for this year, indicating that the struggling manufacturing sector and the impact of the euro zone debt crisis will keep weighing on economic activity, a central bank weekly survey showed on Monday."

Bloomberg BusinessWeek
Link: Yandex Boosts Online Search Share in Russia, Liveinternet Says
"Yandex NV's (YNDX) share of Russia's Internet searches rose in the week to June 10, while the portions of competitors Google Inc. (GOOG) and Mail.ru Group Ltd. fell, data compiled by Liveinternet.ru showed.

"The share for Yandex, the owner of Russia's most-used search engine, rose to 60.7% from 60.5% in the previous week, according to Liveinternet. Yandex's share averaged 60.6% over the past four weeks, the highest since the four weeks to Jan. 2, according to Liveinternet, an Internet service provider and researcher."
< Previous
  • 1
Next >
No positions in stocks mentioned.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE