BRICs raise relegation risk for European soccer 30 Dec 2011 World power must be shifting. Samuel Eto’o, a Cameroonian soccer star who used to play for Barcelona, has gone to Russia while Nicolas Anelka, a Frenchman, is moving from Chelsea to China. But both players are over 30. Europe, not the BRICs, still has first call on young talent.
BRIC success shows the power of a good idea 28 Nov 2011 Goldman’s Jim O’Neill invented the acronym for the leading emerging markets 10 years ago. What started as a good economic theme became a state of mind – the embodiment of a global power shift. So far, so good, but at least one BRIC is likely to disappoint in the next decade.
Russian delay adds to Polyus UK listing concerns 28 Oct 2011 A regulatory delay to the gold miner’s London listing may have political motives. The timing is suggestive, coming after public outbursts by owner Mikhail Prokhorov. The setback underlines risks that make it unwise for London to waive its rules for Russian companies.
SAB’s $1.9 bln Turkish tie-up has double benefit 19 Oct 2011 The UK-listed brewer is swapping its Russian unit for a 24 percent stake in Turkey’s Efes. Though Russia is challenging for brewers, the combined business will have a broader base. And SAB is now in pole position if the families behind Turkey’s dominant beer-maker ever sell up.
Currency crossfire to hit emerging economies hard 29 Sep 2011 Money is flowing out of emerging economies. Countries that had complained about currency appreciation have had to prop up forex rates. Turkey and South Korea are vulnerable to hot money retreat. Poland and Hungary are caught in currency traps.
Putin’s third term undermined by Kudrin’s exit 26 Sep 2011 Russia’s finance minister has dismayed investors by saying he doesn’t want to serve in the next cabinet. Pique at not getting the premier’s job may be to blame. But Kudrin’s decision also reflects policy tensions. Without him, it will be tougher to keep Russia’s finances steady.
Can the BRICs save the PIIGS? 21 Sep 2011 Brazil’s limited offer of $10 billion of support is pure posturing. But its idea to channel it through the IMF has merit. But why limit the effort to the BRICS? Other large holders of reserves - such as Japan and Saudi - should also join the club.
Market crash compounds Russia’s lack of appeal 30 Aug 2011 Russia’s stock market has been one of the biggest casualties of the global turmoil, again illustrating its extreme sensitivity to risk. Although investors should be poised for an eventual rebound, the latest crash underscores the diminishing allure of Russian stocks.
Bank of Moscow’s debacle is profitable for some 2 Aug 2011 Russia’s $14 bln banking fiasco has proved costly for both the Russian state and its major shareholder, VTB Bank. But Vitaly Yusufov, the son of former Kremlin official Igor Yusufov, looks set to profit from the imbroglio. That raises questions about the handling of the affair.
Rajoy needs to tell Spain some home truths 1 Aug 2011 The country’s probable next PM shouldn’t wait until after November’s election to level with the Spanish people about the actions needed to avoid getting sucked into the euro zone crisis and to restore competitiveness. Here’s the speech he should give now.