Friday’s best of the web

By Emerging Money>,

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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"] Image courtesy Andrew Lawson: [/caption]

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 ( EWM , quote ) 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 shocks.

Emerging Money's Craig Mellow discusses BPs successful Russian investment

An in-depth look at how BP ( BP , quote ) 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 ( RNFTF , quote ) today for $30 billion. And a compelling argument for why all the negative attention directed at Russia ( RSX , quote ) should not be treated as gospel.

Benedict Mander of Beyondbrics examines the state of Venezuelan currency

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 ( EPI , quote ), 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. Aluminium Bahrain 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
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