Friday's emerging market best of the web looks at the
Venezuelan exchange rate, investment in Karnataka, India, prospects
for growth in Malaysia and BP's sale of their stake in TNK-BP.
[caption id="attachment_62863" align="alignright" width="300"
caption="Kuala Lumpur, Malaysia"]
Bank Negara Malaysia continues to forecast 4-5% growth for
country reports The Star Online
The emerging market of Malaysia's central bank is monitoring the
European debt crisis but continues to believe the Malaysian economy
) will grow between 4% to 5% this year. Bank governor Dr. Zeti
Akhtar Aziz argues they have a "more developed financial system"
and a strong domestic economy to help insulate against any European
Emerging Money's Craig Mellow discusses BPs successful
An in-depth look at how BP (
) managed to create a partnership deal with some emerging market
Russian billionaires to create energy entity TNK-BP in 2003 for $8
billion, withdraw $19 billion of dividends and is now looking to
sell to Rosneft (
) today for $30 billion. And a compelling argument for why all the
negative attention directed at Russia (
) should not be treated as gospel.
Benedict Mander of Beyondbrics examines the state of
The Venezuelan government insists that a U.S. dollar is worth
4.3 bolivars in the emerging market, but people on the street (i.e.
on the black market) are finding the rate is much higher.
Politicians usually try to avoid a weakening currency in an
election year, but the author predicts no action will be had until
after the election in October.
Dhanya Ann Thoppil from Real Time India reports that
Karnataka is seeking new investment
Despite the slowing global economy, one state in the emerging
market of India (
), Karnataka, is hoping to collect new investment pledges worth
$108 billion. The region has taken steps to enhance its appeal by
increasing bureaucratic transparency and improving infrastructure.
Will there be enough land to support it all?
Aluminium Bahrain plans an additional $2.5 billion
expenditure to increase output
The price of aluminum is down significantly in the past year and
most companies are cutting back production.
CEO Laurent Schmitt does not buy the trend and thinks a rebound is
near. His company must share that view as it plans to improve its
aluminum capacity by 30% by 2015.