Russell Introduces New Emerging Markets Index; Slow Growth in India Hurts Forecasts
By Alex Brokaw Sep 13, 2012 1:15 pm
Plus, Indonesia attempts to build a national credit card payment system
Link: Jaguar Land Rover Postpones Plans to Build Plant in Brazil
“Jaguar Land Rover (TTM) has postponed its plans to build a new plant in Brazil due to the recent changes in tax rules for foreign companies.
“JLR’s chief executive Ralf Speth announced that the company has halted the investment in Brazil after the court decided that regional governments in this country could not use tax breaks to attract investors to their states.”
Link: Thai Billionaire Bids for F&N in Hurdle for Heineken in Asia
“Thai billionaire Charoen Sirivadhanabhakdi made a S$9 billion ($7.3 billion) bid for the 70% of Fraser & Neave Ltd. (F99.SI) he does not control, potentially blocking Heineken NV (HEIO.AS) from buying the company’s beer business.
“TCC Assets Ltd., linked to Charoen’s Thai Beverage Pcl (Y92.SI), offered S$8.88 a share for F&N, TCC said in a filing today. The bid is 4.3% more than F&N’s closing price yesterday and values the company at $10.3 billion.
“Charoen, 68, set off a scramble for F&N and its assets when he agreed to buy a stake in the company in July. Heineken countered with a bid for F&N’s 40% stake in Tiger beer maker Asia Pacific Breweries Ltd. (A46.SI), which the Dutch brewer already partially owns.”
Business News Europe
Link: CORRUPTION WATCH: Russia’s Bribe Size Up 33-fold Since 2008
“The size of the average bribe in Russia has increased 33-fold since Dmitry Medvedev launched his anti-corruption drive in 2008 following his election as president that year.
“Russia’s nationwide anti-corruption community outreach office, Clean Hands, which is part of the Russian Association of Lawyers For Human Rights, published its fifth report on corruption in the country at the start of September and found the average bribe has increased from RUB9,000 to RUB300,000 ($300 to $10,000) between 2008 and 2012, reports Kommersant.”
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