Category: Economy & Foreign Trade

Merrill Lynch: China Stocks Favored Over India Stocks

Post author By The Proletariat
Post date August 18, 2010
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Although both are posed to outperform most developed markets, at least one senior wealth management executive believes that Chinese stocks should be the preferred choice over Indian stocks based on the former’s presently low valuation.

“Emerging markets China and India are quoting in the range of 12-13 and 17-18 price to earnings, with India clearly outperforming the rest of the world,” Stephen Corry, director and chief investment officer of Merrill Lynch Wealth Management’s Asia-Pacific region, told Reuters in an interview. “We expect China to outperform India in the second half of 2010.”

Central Asia Economy & Foreign Trade

Ukrainian Cabinet to Liquidate Unprofitable Coal Mines

Post author By The Proletariat
Post date July 27, 2010
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The Ukrainian government has decided to liquidate its unprofitable coal mines, closing down 107 of them in 2010.

“The government funds which was use to spent on unprofitable mining enterprises support will be going to modernization of those mines, which can be successfully privatized in the near future,” a government official explained.

Economy & Foreign Trade

Ukraine to Ratify Pro-EU Natural Gas Market Liberalization Law

Post author By The Proletariat
Post date July 15, 2010
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The Ukrainian parliament is moving to ratify the pro-EU natural gas market liberalization law in all three required readings.

According to the law, state-run NJSC Naftogaz in order to give an equal access to gas pipelines for each market participant, will be divided to three different enterprises by type of activity: marketing, extracting and transportation.

Economy & Foreign Trade

Chinese Companies Lead in Global IPO Offering

Post author By The Proletariat
Post date July 14, 2010
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Chinese companies are taking the lead as China has become the biggest initial public offering market in the world in terms of amount of funds raised and the number of deals made, based on a report by accounting firm Ernst & Young.

Hong Kong is the natural choice for most mainland companies opting for a stock listing while small and high-growth information technology companies tend to opt for a listing in the United States. “China will maintain its lead in the IPO market as more mainland companies tap overseas capital pools even as they expand their business locally,” said Terence Ho, strategic growth markets and China IPO leader at Ernst & Young.

Economy & Foreign Trade

Ukrainian Mortgage Market Continues To Decline

Post author By The Proletariat
Post date May 28, 2010
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The Ukrainian market for mortgage loans has been continuing to decline from the beginning of 2010. Since then national banks portfolios have reduced by 3.5 percent to 3.6 billions grivnas. In the first quote of this year, credits volume, guaranteed by real estates reduced to 3.64 billion grivnas, the national Ukrainian Mortgage Association (UMA) reported yesterday. Throughout last year credit volume reduced by 3.8 percent.

“During the pre-crisis years real estate markets were overheated due to very trite reason like greediness”, UMA chairman of board Igor Yushko said to Kommersant-Ukraine daily.

Central Asia Economy & Foreign Trade Science & Technology

Tajikistan’s Rogun Hydroelectric Power Plant Offers Share Sale, Raises Capital to Finish Dam Project

Post author By The Proletariat
Post date May 12, 2010
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According to Tajik Ministry of Finance over US$186 million was transferred to the accounts of the Rogun hydroelectric power plant project through the sale of stocks and shares certificates of OJSC Rogun as well as financial donations, fergana.ru reports.

The shares of construction company with total value of US$1.37 billion were issued on January 6, 2010. US$3.2 billion is required for the project achievement.

Construction on the Rogun Dam began back in 1976, and continued in starts and stops for the past 30 years. In 2004, the Tajik government formed a partnership with Russia’s Rusal to complete the project. Despite Rusal’s US$2 billion commitment to the project, Tajikistan authorities had canceled their contract in 2007.

Eastern Europe Economy & Foreign Trade Politics

Belarus Looking Outside Russian and Europe for Partners

Post author By The Proletariat
Post date April 6, 2010
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Venezuela and China may become new strategic partners of Belarus. Lukashenko’s delegation visited Caracas while the vice-chairman of the State Council of the Peoples Republic of China, Xi Jinping paid an official visit to Minsk.

Belarusian president Alexander Lukashenko has asked the government to look for new commodity markets. “There are other fish in the sea besides Russia and Europe — it is necessary to reach out to the new regions”, he told Interfax. According to Lukashenko, Belarus is being pushed to embrace new partners because of unfair trade conditions with Russia and evasion of arrangements.

Cambodia & Laos Economy & Foreign Trade International Relations

Mongolia Looks to Boost Trade with Laos

Post author By The Proletariat
Post date April 1, 2010
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Mongolia and Laos signed an agreement to boost cooperation in agriculture, especially in food production, livestock, veterinary care, forestry and light industry, the Laotian newspaper Vientiane Times reported last week..

The agreement was signed in Vientiane on March 22 by the Laotian Minister of Agriculture and Forestry Sitaheng Rasphone and T. Badamjunai, the Mongolian Minister of Food, Agriculture and Light Industry.

“We are interested in trading agricultural and forestry products with Laos”, said Mongolian Minister of Agriculture and Forestry Mr. Badamjunia during his official visit to the country. He told local media, “this cooperation would increase relations between the two countries in the future.”

Eastern Europe Economy & Foreign Trade Russia

Russia’s Gazprom seeks takeover of Belarus’s Beltransgaz

Post author By The Proletariat
Post date March 29, 2010
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Russian energy giant Gazprom has confirmed intentions on acquiring control over Belarusian gas pipeline operator, Beltransgaz.

Andrei Kruglov, Gazprom’s deputy CEO, discussed his company’s interest in boosting its stake in the company. This comes a few years after the company purchased 50 percent of Beltrangaz’s shares in 2007 indicating Gazproms’s intention to increase their control over the Belarusian pipeline.

Central Asia China Economy & Foreign Trade Issue

Kazakhstan Enters China’s Grain Market

Post author By The Proletariat
Post date March 11, 2010
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During the Parliament-session of deputy group ‘Onir’ on Tuesday, Kazakhstan announced that it would begin exporting grain to China.

“I can report that 20 thousand tons of wheat has been exported to the Peoples Republic of China for the first time,” said Kazakhstan’s Vice-Premier Umirzak Shukeev during the meeting.