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Emerging Markets: IMF Says Growth Will Slow


Plus, despite sales in emerging markets, netbooks are destined for oblivion, and more!

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

Emerging Markets Daily
Link: IMF Cuts Developed, Emerging Economy Growth View; How Deep the Dysfunction?

"The International Monetary Fund this evening announced in its World Economic Outlook report, that its expectations for GDP growth in both developed and emerging economies this year and next is lower than what was expected as recently as July....Emerging market and developing economies will see 5.3% GDP growth, down from 5.8%."

Link: World Bank Slashes Asia Forecast

"The World Bank lowered its growth outlook for Asia on Monday, and warned that a major unraveling in Europe could knock 2% off Asia's GDP growth next year...The institute now expects economic growth in Asia to be 7.2% in 2012, down from the 7.6% projection made in May and lower than last year's rate of 8.2%. However, growth is expected to rebound next year, spurred by strong demand in developing countries..."

West Business
World Bank Slashes Russia's Growth Outlook
"The World Bank cut its growth forecast for Russia on Monday because of recent drought and inflation, in a tough assessment which urged more investment...The bank lowered the outlook for this year by 0.4 percentage points to 3.5% of gross domestic product (or GDP)."

Gazprom's North Stream: Not Everybody Is Celebrating
"More congratulations for Vladimir Putin who after celebrating his 60th birthday at the weekend travelled to north west Russia to launch the second string of the North Stream gas pipeline. Alexei Miller, Gazprom (MCX:GAZP) chief executive, said the Russian president should take the credit for the project that will bolster Russian gas exports to Europe and reduce dependence on transit pipelines across Ukraine...North Stream runs 1,224km under the Baltic Sea from north west Russia to the German coast, giving Gazprom a direct link with European gas markets and avoiding the need for transit across foreign states."

Wall Street Journal
Link: Emerging Markets Currencies Weaken

"Emerging-market currencies weakened Monday, as unrest in South Africa sent the rand (CURRENCY:ZAR) tumbling and left investors jittery about the stability of other emerging markets...Investors have profited in recent sessions on strengthening emerging-market currencies like the Russian ruble (CURRENCY:RUB) and Indian rupee (CURRENCY:INR) but Monday investors read the decline in South Africa's currency as a reason to book profits in case contagion from South Africa's decline impacted other currencies."

Money Morning
Investing in Emerging Markets: 2013 Is the Year of the Dividend
"In August 2012, a record $34 billion in dividends was paid to investors, topping the previous record of $32.1 billion set in November 2011...emerging markets equities are climbing the dividend ladder as we speak...Research from UBS (NYSE:UBS) indicates the 300 largest non-financial firms in the MSCI Emerging Markets Index (NYSEARCA:VWO) are expected to pay $52.2 billion in dividends this year, up from $48.9 billion..."

Link: Vanguard's Index Changes Could Hamper BDCs

"Vanguard, the third-largest U.S. ETF issuer, made waves on Tuesday by announcing index changes for 22 of its funds. News that the Vanguard MSCI Emerging Markets ETF will drop the MSCI Emerging Markets Index in favor of the equivalent index sponsored by FTSE Group garnered the most attention...The change, which will see VWO eliminate its exposure to South Korean equities , is the largest international index switch on record, according to FTSE Group."

IT Wire
: Emerging Market Ecosystem a Danger for Telcos
"The dominant role of mobile network operators in providing value-added services for emerging markets is unlikely to last, says analyst group Ovum...In a world with 3G and LTE services and smartphones, changing consumption patterns around mobile content and apps means that mobile network operator (or MNO) business models risk being disrupted."

Givaudan Takes Heart From Emerging Markets Growth
"A focus on everyday essentials like toothpaste and shampoo, and strong demand for perfumes in emerging markets, will help Swiss fragrance and flavour maker Givaudan (PINK:GVDNY) beat a tough economy and consumer goods rivals, it predicted on Tuesday...The company confirmed its mid-term goals after third-quarter sales came in at the high end of expectations, helped by a positive currency impact and growth in emerging markets.

First Post
Maruti Suzuki Sales Up 10% in September
"[India's] largest car-maker Maruti Suzuki India (NSE:MARUTI) today reported 9.84% increase in total sales at 93,988 units for September. The company had sold 85,565 units in the same month last year."

Emerging Markets Keep Netbooks Relevant, But Barely
"Netbooks face a bleak future as hardware makers shift their focus from this device category to concentrate on other form factors, while the upcoming Windows 8 (NASDAQ:MSFT) operating system (OS) threatens to make netbooks obsolete. Even interest from certain emerging markets may not save it from irrelevance in the long run...The outlook for netbooks was rosier during 2007, when it was positioned as a small, lightweight and affordable alternative to the traditional, chunky laptops. Five years on, however, and one of the pioneers of the segment, Asus Technology (PINK:AKCPF), has announced it will pull the plug on manufacturing netbooks. Other players such as Toshiba (PINK:TOSBF) and Dell (NASDAQ:DELL) have also indicated likewise."
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