The Economic Times of India, citing a study by US market research firm Strategy Analytics, reports that India will become the largest WiMAX market in the Asia-Pacific by 2013.
That study predicts India's WiMAX subscriber base to reach 14 million by Year 2013 and grow annually at nearly 130%. Furthermore, the study projects initial investment in WiMAX ventures will top $500M in India.
"Eventually, we expect WiMAX growth to be much faster in smaller cities and rural towns. The investment on WiMAX will then go up substantially. WiMAX will not be an alternative to 3G but will be used for overall broadband diffusion in India," said Rahul Gupta, Strategy Analytics manager for emerging market communication service.
More from this article at Wimax.com
Friday, 20 February 2009
Thursday, 19 February 2009
China Mobile interested in Indian mobile market
The worlds largest mobile operator with 457 million subscribers China Mobile is actively interested in operating in India, the world’s fastest growing mobile market. “We are looking at India for our expansion,” Wang Jianzhou, chairman and CEO of China Mobile, told the Business Standard on the sidelines of a press conference at the Mobile World Congress in Barcelona.
The Indian mobile market which is thriving even under these harsh economic conditions adds an approximate 10 million subscribers per month, as against China’s addition of 8 million subscribers monthly. The latest report by the Telecom Regulatory Authority of India states that India has a teledensity of 33 percent and 347 million mobile subscribers as of December 2008. The market is expected to expand to 500 million subscribers by 2010 - allowing for a lot more room to grow the market.
More from this article at 2.6 Billion
The Indian mobile market which is thriving even under these harsh economic conditions adds an approximate 10 million subscribers per month, as against China’s addition of 8 million subscribers monthly. The latest report by the Telecom Regulatory Authority of India states that India has a teledensity of 33 percent and 347 million mobile subscribers as of December 2008. The market is expected to expand to 500 million subscribers by 2010 - allowing for a lot more room to grow the market.
More from this article at 2.6 Billion
Wednesday, 18 February 2009
the Bear & the Dragon shake hands on $25Bn energy deal
Whilst having previously discussed the Byzantine workings of Russia’s energy players in previous articles & also the direction that China has taken recently in securing strategic reserves, it was only a matter of time befiore the Dragon & the Bear came to an accord together. During a visit to China this week, Russian Deputy Prime Minister Igor Sechin has succeeded in bringing together a massive deal for Russian oil producers in Siberia.
On Tuesday (17/02/09), Russia and China signed an intergovernmental agreement on the construction of a branch of the East Siberia-Pacific Ocean (ESPO) oil pipeline toward China. Under this agreement, Russia will supply 15 million metric tons (300,000 barrels per day) of crude oil annually for 20 years to China, in return China via state owned China National Petroleum Company (CNPC) will extend a total of $25 billion in loans to Russian state-controlled crude producer Rosneft and pipeline operator Transneft at 6% per annum in exchange for the long-term oil supply. Transneft plans to start building a Chinese leg of the East Siberia-Pacific Ocean later this year and to commission it in 2010, Russia’s monopoly pipeline operator said in a statement on Tuesday.
More from this article at MyStockVoice
On Tuesday (17/02/09), Russia and China signed an intergovernmental agreement on the construction of a branch of the East Siberia-Pacific Ocean (ESPO) oil pipeline toward China. Under this agreement, Russia will supply 15 million metric tons (300,000 barrels per day) of crude oil annually for 20 years to China, in return China via state owned China National Petroleum Company (CNPC) will extend a total of $25 billion in loans to Russian state-controlled crude producer Rosneft and pipeline operator Transneft at 6% per annum in exchange for the long-term oil supply. Transneft plans to start building a Chinese leg of the East Siberia-Pacific Ocean later this year and to commission it in 2010, Russia’s monopoly pipeline operator said in a statement on Tuesday.
More from this article at MyStockVoice
Gold hits 7-mth high as haven demand spurs ETF buying
Gold firmed to a fresh seven month high in Europe on Wednesday as investors spooked by the outlook for the financial system bought gold and bullion-backed exchange-traded funds as a safe store of value.
Holdings of the world's largest gold-backed ETF, the SPDR Gold Trust, leapt to a record high above 1,000 tonnes on Tuesday as fears of a deepening global recession and the prospect of inflation fuelled buying.
Spot gold hit a high of $973.50, its strongest since July 22, and was quoted at $967.35/968.95 an ounce at 1031 GMT, little changed from $968.35 late in New York on Tuesday.
More from this article at Reuters
Holdings of the world's largest gold-backed ETF, the SPDR Gold Trust, leapt to a record high above 1,000 tonnes on Tuesday as fears of a deepening global recession and the prospect of inflation fuelled buying.
Spot gold
More from this article at Reuters
Australia better able to weather economic crisis ?
The local economy may continue to perform better than the rest of the world despite forecasts suggesting 2009 will be the worst year since World War II, the Reserve Bank said today.
Australia has benefited from having “more momentum than most comparable economies in the period leading into the crisis,” said RBA assistant governor Malcolm Edey in a speech delivered to the Committee for Economic Development of Australia in Sydney.
“There are reasons to expect that the Australian economy can continue to perform better than its international counterparts in the difficult period that lies ahead,” he said.
Mr Edey highlighted the steep drop in growth forecasts and the “synchronised nature of the downturn” affecting the global economy, together making 2009 shape “up as a very difficult year.”
More from this article at Sydney Morning Herald
Australia has benefited from having “more momentum than most comparable economies in the period leading into the crisis,” said RBA assistant governor Malcolm Edey in a speech delivered to the Committee for Economic Development of Australia in Sydney.
“There are reasons to expect that the Australian economy can continue to perform better than its international counterparts in the difficult period that lies ahead,” he said.
Mr Edey highlighted the steep drop in growth forecasts and the “synchronised nature of the downturn” affecting the global economy, together making 2009 shape “up as a very difficult year.”
More from this article at Sydney Morning Herald
Tuesday, 17 February 2009
India poised to relax laws on foreign direct investment
The Indian government could be poised to open the door to foreign direct investment (FDI) in the country, in a move that could have huge ramifications for the ambitions of companies, including Tesco and Wal-Mart, in the burgeoning Indian economy.
Speculation is mounting that a relaxation of FDI rules may be forthcoming after the Indian Ministry of Commerce issued revised guidance on what constitutes a foreign holding in an Indian company.
Under the new guidelines, as long as a company is more than 50 per cent-owned by Indians, the government would consider any investment into that company to be Indian equity, regardless of whether the sector is one in which FDI has been capped, such as multi-brand retail. Current FDI rules only allow single-brand retailers, such as Germany's Metro, to open stores, while multi-brand retailers, such as Tesco and Wal-Mart, are only allowed to deliver supply chain and back-office services.
More from this article at The Independent
Speculation is mounting that a relaxation of FDI rules may be forthcoming after the Indian Ministry of Commerce issued revised guidance on what constitutes a foreign holding in an Indian company.
Under the new guidelines, as long as a company is more than 50 per cent-owned by Indians, the government would consider any investment into that company to be Indian equity, regardless of whether the sector is one in which FDI has been capped, such as multi-brand retail. Current FDI rules only allow single-brand retailers, such as Germany's Metro, to open stores, while multi-brand retailers, such as Tesco and Wal-Mart, are only allowed to deliver supply chain and back-office services.
More from this article at The Independent
Consolidation hits Rainbow Nations telecom sector
Even though merger and acquisitions (M&A) in South Africa were down at least 50% in deal value last year compared with other emerging markets, the telecom sector has seen much activity in the last year, which has also spilled into 2009. A veritable wave of consolidation & a drive towards convergence seems to be the way forward for major players such as Vodacom, Telkom SA & MTN Group.
The largest deal in South Africa was Vodafones (NYSE - VOD) acquisition of a further 15% of Vodacom for R22,5bn ($2.3Bn), bringing control along with atotal holding of 65%, Telkom as part of the deal will divest the remaining 35% to shareholders. Analysts had feared that Vodafone had paid a premium for this stake, however value can be seen in the continued push for consolidation & a genuine effort to move towards converged services. In late December it was announced that the mobile carrier had acquired African network and satellite services firm Gateway Communications for $700 million. The Gateway transaction includes Gateway’s core carrier and business network units, which provide satellite, business and interconnect services to African and multinational companies in 40 countries, but not its broadcasting division.
More from this article at MyStockVoice
The largest deal in South Africa was Vodafones (NYSE - VOD) acquisition of a further 15% of Vodacom for R22,5bn ($2.3Bn), bringing control along with atotal holding of 65%, Telkom as part of the deal will divest the remaining 35% to shareholders. Analysts had feared that Vodafone had paid a premium for this stake, however value can be seen in the continued push for consolidation & a genuine effort to move towards converged services. In late December it was announced that the mobile carrier had acquired African network and satellite services firm Gateway Communications for $700 million. The Gateway transaction includes Gateway’s core carrier and business network units, which provide satellite, business and interconnect services to African and multinational companies in 40 countries, but not its broadcasting division.
More from this article at MyStockVoice
Monday, 16 February 2009
Asia’s export economies in free fall
Staggering falls in exports across Asia have shocked economic analysts and ended all claims that the global slump may be nearing its bottom. The IMF's growth forecast for Asia this year is just 2.7 percent—less than a third of the 9 percent growth rate of 2007. The prediction is a full percentage point less than during the 1997-98 Asian financial crisis.
IMA Asia analyst Richard Martin commented in the Australian: "It's a bit like watching a train wreck in slow motion. North Asia is suffering the biggest collapse in demand since World War II." Westpac bank's Richard Franulovich said that the "speed of the decline embedded in the latest Asia data is on par with the collapse in the US during the 1930s Depression."
More from this article at WSWS.ORG
IMA Asia analyst Richard Martin commented in the Australian: "It's a bit like watching a train wreck in slow motion. North Asia is suffering the biggest collapse in demand since World War II." Westpac bank's Richard Franulovich said that the "speed of the decline embedded in the latest Asia data is on par with the collapse in the US during the 1930s Depression."
More from this article at WSWS.ORG
Chinese raw material companies continue on acquisition trail
Although all the news lately has focussed on Chinalco’s recent financing deal with Rio Tinto, Chinese raw material firms are still looking far & wide for new opportunities, as discussed in our December article : China stocks up on raw materials. Other state owned / controlled corporations are looking at South Africa & South America as well as assets in Australia. As there is flurry of activity & reporting on the Rio Tinto deal, a look at some of the other activities would is warranted.
China has a long history of investing in operations in South America, back in 1992, we saw the first venture outside of mainland China when Capital Steel (now Shougang) acquired the Peruvian state owned iron ore mining concern HierroPeru. This company now operates as Shougang Hierro & it is currently ramping up its expansion activities in the region. At the time the company was the child of Den Xiopeng and its overseas venture was viewed as an experiment to see how smoothly a transition could be made from a closed, planned economy into one with wide-ranging connections to international markets.
More from this article at MyStockVoice
China has a long history of investing in operations in South America, back in 1992, we saw the first venture outside of mainland China when Capital Steel (now Shougang) acquired the Peruvian state owned iron ore mining concern HierroPeru. This company now operates as Shougang Hierro & it is currently ramping up its expansion activities in the region. At the time the company was the child of Den Xiopeng and its overseas venture was viewed as an experiment to see how smoothly a transition could be made from a closed, planned economy into one with wide-ranging connections to international markets.
More from this article at MyStockVoice
Standard Chartered launches M-banking in Kenya
Standard Chartered has announced the launch of mobile-phone banking (‘mBanking’) in Kenya.
Standard Chartered Bank is the first bank in Kenya to introduce ‘mBanking’ on the USSD (Unstructured Supplementary Service Data) platform to the market. This new product will provide Standard Chartered Bank’s customers with access to banking 24 hours a day, 7 days a week – anywhere in the world, at any time- all through their mobile phone.
Richard Etemesi, the bank’s Chief Executive Officer said that the new development is part of the bank’s efforts to provide alternative delivery channels for their customers.
More from this article at IT News Africa
Standard Chartered Bank is the first bank in Kenya to introduce ‘mBanking’ on the USSD (Unstructured Supplementary Service Data) platform to the market. This new product will provide Standard Chartered Bank’s customers with access to banking 24 hours a day, 7 days a week – anywhere in the world, at any time- all through their mobile phone.
Richard Etemesi, the bank’s Chief Executive Officer said that the new development is part of the bank’s efforts to provide alternative delivery channels for their customers.
More from this article at IT News Africa
Iran seals new Turkmen gas deal
Turkmenistan will export 10 billion cubic metres of gas per year from the Bolutun field to Iran, which in turn will help develop the field, under the terms of a new deal struck by the pair.
The two energy powers, whose ties were strained last winter after Turkmenistan halted gas sales to Iran, agreed to boost co-operation during an official visit by Turkmen leader Kurbanguly Berdymukhamedov to Tehran over the weekend.
Under the deal, Iranian companies would develop the Bolutun gas field in Turkmenistan and in exchange gas from the field would be exported to the Islamic Republic, Iran's official IRNA news agency said.
More from this article at Upstream Online
The two energy powers, whose ties were strained last winter after Turkmenistan halted gas sales to Iran, agreed to boost co-operation during an official visit by Turkmen leader Kurbanguly Berdymukhamedov to Tehran over the weekend.
Under the deal, Iranian companies would develop the Bolutun gas field in Turkmenistan and in exchange gas from the field would be exported to the Islamic Republic, Iran's official IRNA news agency said.
More from this article at Upstream Online
Anglo’s Kumba Posts 7.21 Bln Rand Profit on Prices
Anglo American Plc’s Kumba Iron Ore Ltd. unit, the largest African producer of the steelmaking ingredient, posted full-year profit of 7.21 billion rand ($720.4 million), helped by “stronger” iron ore prices and a weaker rand, and said the first-half will be “very challenging.”
Net income climbed from 3.18 billion rand the previous year, the Pretoria, South Africa-based company said in a statement to Johannesburg’s stock exchange today. Diluted earnings-per-share were 22.54 rand, compared with 9.95 rand the previous year, it said.
Kumba said Jan. 20 it would report profit of between 6.8 billion and 7.5 billion rand for the full year, helped by higher iron prices and the rand’s drop against the dollar. The company sells iron ore in dollars and pays wages and other costs mostly in rand.
More from this article at Bloomberg
Net income climbed from 3.18 billion rand the previous year, the Pretoria, South Africa-based company said in a statement to Johannesburg’s stock exchange today. Diluted earnings-per-share were 22.54 rand, compared with 9.95 rand the previous year, it said.
Kumba said Jan. 20 it would report profit of between 6.8 billion and 7.5 billion rand for the full year, helped by higher iron prices and the rand’s drop against the dollar. The company sells iron ore in dollars and pays wages and other costs mostly in rand.
More from this article at Bloomberg
Brazil´s wireless market is booming as Vivo announces record growth
Brazil’s largest mobile phone company Vivo Participacoes said on Friday its fourth-quarter profit surged nearly ten-fold because of a sharp increase in new users and as it kept costs in check.
The company’s chief executive Roberto Lima said the profit surge in the fourth quarter was due to changes in its subscriber and pre-paid telephony offers and “very rigorous” cost controls, as it renegotiated contracts with suppliers.
Vivo, a joint venture of Portugal Telecom and Spain’s Telefonica, said net income rose to 215.5 million reais ($94.1 million) from 26.2 million reais in the fourth-quarter of 2007.
For all of 2008, Vivo made a profit of 389.7 million reais, the best year since the company was formed in 2003, compared with losses of 99.8 million reais in 2007.
More from this article at Reuters
The company’s chief executive Roberto Lima said the profit surge in the fourth quarter was due to changes in its subscriber and pre-paid telephony offers and “very rigorous” cost controls, as it renegotiated contracts with suppliers.
Vivo, a joint venture of Portugal Telecom and Spain’s Telefonica, said net income rose to 215.5 million reais ($94.1 million) from 26.2 million reais in the fourth-quarter of 2007.
For all of 2008, Vivo made a profit of 389.7 million reais, the best year since the company was formed in 2003, compared with losses of 99.8 million reais in 2007.
More from this article at Reuters
Sunday, 15 February 2009
China takes small steps toward establishing yuan as regional currency
While cynics scoff at the idea that the yuan could some day become a regional or a global currency, China's efforts to push loans and trade in yuan in Asia suggest it is taking the first, albeit tiny, step in that direction.
The yuan's journey from a controlled, partially convertible currency to a liquid, regional medium of exchange will be a long one, because of the desire of the Beijing government for economic stability.
In addition, Beijing has always been wary of moving too quickly to open up its markets, fearing that such a move might leave its economy vulnerable to sudden shifts in capital.
More from this article at International Herald Tribune
The yuan's journey from a controlled, partially convertible currency to a liquid, regional medium of exchange will be a long one, because of the desire of the Beijing government for economic stability.
In addition, Beijing has always been wary of moving too quickly to open up its markets, fearing that such a move might leave its economy vulnerable to sudden shifts in capital.
More from this article at International Herald Tribune
Bolivia's Lithium Quandary
In one of the more remote regions on the planet, high in the Andes, lies the Salar de Uyuni, the famed salt flats stretch across more than 4,000 square miles in Potosi, Bolivia, well known for the fabulous wealth in silver extracted there by the Spanish in colonial times. Now a new age of mining could bring a 21st century El Dorado for the impoverished South American nation, as geologists believe that more than half the world’s reserves of lithium may lie under the salt pans.
Government officials claim that Bolivia possesses the world’s biggest lithium reserves, and they also believe the country is poised to profit from car manufacturers which are driving to develop electric cars that will run on lithium ion batteries.
“Bolivia will become a big producer in six years of batteries,” Luis Alberto Echazu, the minister of mining and metallurgy, said in an interview. He ticked off three companies that he said have expressed interest in investing in the government’s lithium venture: Sumitomo, Mitsubishi and Bollore, a French company.
More from this article at MyStockVoice
Petrobras sets some ambitious targets
AMID all the graphs resembling ski slopes which plot jobs and car sales, the boldness of Petrobras may come as a relief to Brazilians. Last month the state-controlled oil giant published its revised investment plan for the next five years. Its proposed capital spending of $174 billion over this period is bigger than the entire economy of Chile. By 2020, if all goes to plan, Petrobras and its foreign partners will be producing 5.7m barrels of oil and gas per day (see chart), more than half the output of Saudi Arabia. New refineries and gas terminals are planned, as well as drilling rigs (29 of them to be delivered by 2012, with a further 28 arriving by 2017). And all this after the oil price has fallen by $100 a barrel from its peak last year.
More from this article at The Economist
More from this article at The Economist
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