3rd September 2010    1:48

                                                                                                                            .... The Hong Kong Monetary Authority (HKMA) and Bank Indonesia have launched a new cross-border payment-versus-payment (PvP) link between Hong Kong's US dollar real time gross settlement system (RTGS) and Indonesia's rupiah RTGS system..... Changjia Group, a Chinese developer with a focus on high-end residential projects in Shanghai, plans to raise between $500m and $600m in a planned Hong Kong listing in March,.... Emirates Steel is finalising plans to consolidate its debt financing and is looking to raise $1.5bn through limited recourse financing to cover the financing needs of its Phase 1 and Phase 2 expansion projects..... The US federal government is set this week to begin a process that could clear the way for energy companies to do seismic research aimed at locating pockets of oil and natural gas along the Atlantic Coast, interior secretary Ken Salazar told reporters Monday..... The $9bn School Employees Retirement System of Ohio has committed over $80m to two private equity middle market buyout funds, half to Francisco Partners’ Fund III, and half to Mason Wells’ Buyout Fund..... San Francisco based industrial property fund, Terreno Realty Corp. canceled its planned $200m IPO yesterday as Goldman Sachs Group Inc. couldn’t find enough buyers for its sale of 10m shares, thereby extending the slump in US IPOs which began late last year..... As part of a strategy to refocus its retail banking operations on Europe and the Mediterranean, Credit Agricole is mulling to sell its Uruguayan subsidiary, Credit Uruguay Banco, to the local unit of Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA)..... A UK Commons committee has called for the Financial Services Authority to be given new powers to regulate treasury advice to public sector bodies on how to manage cash reserves. The demand is contained in a report on the management of local authority investments in the wake of the risk of losses as a result of the collapse of Icelandic banks..... BATS Europe, the operator of European multilateral trading facility (MTF), has decided to add a pan-European smart order routing service for access to multiple market centres including exchanges, MTFs and dark pools, effective February 15th ..... Bradford & Bingley and Northern Rock, the two UK-based lenders that were the first to receive lifeline from the government, are on the verge of merging their so-called 'bad banks.' The European Commission is expected to clear way for B&B to merge its buy-to-let mortgage loans with Northern Rock Asset Management.... Allianz Global Investors is reportedly planning to launch a global multi-asset fund. The Allianz RCM Dynamic Growth fund will aim to deliver equity-like returns with a lower level of risk..... The UK’s University Superannuation Scheme plans to allocate £1.4bn to fixed income (possibly UK index-linked gilts) and lower its equity allocation,as the scheme’s relatively high equity exposure of 70% of assets resulted in the fund losing about £7bn in 2009..... Russia has paid $1m to foreign banks to settle unresolved debts owed by the Soviet Union under an agreement signed with London club creditors last year who were not part of a 2000 swap of $31.7bn in principle and interest arrears notes for $21.2bn of new dollar debt due in 2010 and 2030.                                                                                


PROJECTS UPDATE
Anglogold Ahshanti & Irkutsk Smelter

BOLLORE AFRICA LOGISITCS
The African arm of France’s Groupe Bolloré—Bolloré Africa Logistics (BAL)—is planning to equip and manage a port at Berbera on the reputedly dangerous shores of Somalia. The risks involved in such a project are an unavoidable element of doing business in one o...

BNDES UPS THE ANTE
Brazil's official development bank, the Economic and Social Development National Bank (BNDES), is stretching its tentacles outside the country in a quest to help Brazilian companies to conquer a larger space for themselves in international markets. The state-o...

NEWS IN BRIEF
A round up of the key news from the Emerging Markets

TUNISIA'S SOLAR PLAN
The Tunisian government has been trumpeting its ambitions to turn the country into a production hub for renewable energy, and the solar variety is at the core of its plans. A new plan was unveiled by the Tunisian government in November that will boost the prod...

REACHING FOR THE SKY
Clinching both the 2014 World Cup and 2016 Olympics has placed Brazil firmly under the sporting calendar spotlight. The country now needs to knuckle down to the challenges of holding two vast and very different events. The country’s patchy transport infrastruc...

BARCLAYS BACKS UPSTREAM ENERGY
The Barclays Natural Resource Investments (BNRI), the direct investment arm of Barclays Capital, which specialises in investments in upstream energy, has partnered with two oil exploration and exploitation specialists Richard Hall and Rory Edwards, with partic...

JORDAN: THE QUIET PERFORMER
According to monthly data provided by the Amman Stock exchange the increase in non-Jordanian investments at the exchange through August has slowed somewhat. Jordan is however, the quiet performer in the Middle East region and increasingly the locus of internat...

GAS NETWORKS: THE NEW POLITICAL PATCHWORK
Like it or not, Western Europe is caught in a benign pincer movement, as gas supplies pipe into the sub-continent from Russia, the CIS and North African suppliers. Traditionally, relationships between North African energy suppliers and the West have been stand...

WORLD BANK/GEORGIA
The World Bank Group Board is working on a new Country Partnership Strategy (CPS) with Georgia, which provides the framework guiding the World Bank Group’s assistance to the country for the 2009 to 2012 period. “This strategy has been prepared against the bac...

SINAI/CEMENT
ARESCO completes Sinai production line

JP MORGAN JOINS WORLD BANK PROGRAM
JP Morgan joins global trade liquidity program with World Bank and its funding partners in a $1billion facility to stimulate trade in emerging markets.

 

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Issue 40, July 2010