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Category Archives: News
HFR: Hedge Funds Sour On Emerging Markets
Hedge fund capital invested in emerging markets declined to conclude 2014, falling from the record level established in 3Q14 on a combination of performance losses and investor outflows concentrated in funds with exposure to Russia. The HFRI EM: Russia/Eastern Europe Index declined 18.6% in 4Q14, bringing the 2014 full year loss to 26.5%, making 2014… Continue Reading
EBRD and KICB finance improvements for Ak Bermet resort on Lake Issyk-Kul
Lake Issyk-Kul is one of the most famous sights in the Kyrgyz Republic and Central Asia. With appropriate investment, the area has the potential for further promotion as an attractive holiday resort. The European Bank for Reconstruction and Development (EBRD) and KICB, its local partner bank, are supporting further development of this tourist attraction by… Continue Reading
Cordiant hits $350 million at final close of latest emerging markes loan fund
Cordiant, a leading emerging market private debt fund manager, has raised US $350 million at the final close of its latest debt fund, the Cordiant Emerging Loan Fund IV (CELF IV). The fund’s primary focus will be on senior, secured loans issued to emerging market private sector borrowers, with an emphasis on diversification across countries… Continue Reading
Uniform rules on syndicated lending drafted in Russia
By Andrei Skvarsky. A large group of banks and companies including Sberbank, Deutsche Bank, PricewaterhouseCoopers and Baker & McKenzie have drafted uniform rules on syndicated lending based on Russian law in a bid to do away with legal discrepancies in the current Russian syndicated lending practice. Continue Reading
International private equity firms Siguler Guff and CapMan invest in Russian educational test preparation company
Siguler Guff and CapMan, two international private equity firms, announced last week an investment in Maximum Education, a major Russian provider of educational test preparation services, in exchange for “a significant minority stake.” Siguler Guff declined to disclose any further details of the transaction, but Maximum Education CEO Michael Magkov told East-West Digital News it… Continue Reading
Russian venture fund Life.Sreda seeks to sell assets amid first signs of severe industry contraction
Russian fintech fund Life.Sreda is seeking buyers for the greater part of its portfolio companies, both Russian and foreign, Russian business daily Vedomosti has learned from unnamed industry insiders. The fund intends to concentrate on the development of its most promising project, mobile acquiring startup LifePay. In an exchange with the newspaper, Life.Sreda representative Anna… Continue Reading
Sanctioned Sberbank reports booming trade finance, documentary business for 2014
By Andrei Skvarsky. Sberbank, Russia’s biggest lender, has reported trade finance and documentary business transactions for last year by its parent Moscow-headquartered company. Continue Reading
EXCLUSIVE: S&P’s junk grade for Russia no bombshell – Swiss banker
By Andrei Skvarsky. A Moscow-based senior manager at Swiss bank Lombard Odier has argued that ratings agency S&P’s lowering of the sovereign credit rating Continue Reading
Asia Frontier Capital Newsletter – Country Snapshot: Bangladesh
With over 160 million people, a young and cheap labor force and a strategic location between India and China – two of largest engines of global economic growth over the past decade – Bangladesh maintains strong prospects for extended economic growth. Continue Reading
IronFX launches office in Johannesburg
IronFX Global, a Eurex group foreign exchange trading company, has announced it has opened an office in Johannesburg. Continue Reading
Runa Capital-led effort raises $3m for Seattle’s LendingRobot
Runa Capital, a Moscow-headquartered global venture firm, has led a funding round in which $3m was raised for Seattle-based startup LendingRobot, an automated investment service for online lending, East-West Digital News Magazine (EWDN) has said. Continue Reading
MNI Indicators: Russian companies slightly more upbeat but overall sentiment negative
By Andrei Skvarsky. A survey by the Deutsche Boerse group’s intelligence company MNI Indicators suggests there has been slightly more business optimism among Russian companies this month than in December, but that their overall sentiment has remained negative because of the Ukraine-related Western sanctions, low oil prices and the depreciating ruble. Continue Reading
Apple, Valve join ranks of boycotters of Crimea – tech magazine
Technology giant Apple and video game developer Valve have joined the ranks of US companies that have severed their ties with Crimea in compliance with the American sanctions following Russia’s annexation of the peninsula from Ukraine last spring, according to Moscow-based magazine the East-West Digital News (EWDN). Continue Reading
Moscow Exchange to double the tick for some forex instruments
Moscow Exchange has announced it will increase the price tick for USD/RUB, EUR/RUB and GBP/RUB foreign exchange spot instruments to RUB 0.001 from today’s RUB 0.0005 with effect from February 2. Continue Reading
Moscow Exchange reports booming securities, FX trade despite economic downturn
By Andrei Skvarsky. Moscow Exchange has reported vast increases in securities and foreign exchange (FX) trade for 2014 despite Russia’s steady movement towards recession that year. Continue Reading
Newsletter from Canrim Resources, a Singaporean company focused on mineral resources development in Mongolia
Reflecting on 2014, Mongolia has come far, yet still has further to go. Early in the year many structural issues loomed large. This included the moratorium on the issuance of exploration licenses, development of large scale power projects and the railroad gauge debate, all of which were recently successfully resolved. In light of these productive developments, and a… Continue Reading
EU issues guidelines on how to avoid fraud in online payments
By Andrei Skvarsky. The European Union last month came up with guidelines for Internet payment providers on how to avoid increasing frauds that have yearly been sucking in hundreds of millions of euros across the EU. Continue Reading
ASIA FRONTIER CAPITAL – Country Snapshot – Iraq
Despite being plagued by armed conflict for most of the last decade, Iraq’s economy is rebounding and showing promising signs for surging growth in the future. Iraq is an enormously wealthy country, devastated by over 30 years of terrible conflicts and crippling sanctions, and almost torn apart by civil strife. Continue Reading
Lamudi: real estate business booming in many emerging markets
By Andrei Skvarsky. Global real estate company Lamudi says real estate business has been booming in many emerging and frontier markets. Continue Reading
Newsletter from Canrim Resources, a Singaporean company focused on mineral resources development in Mongolia
An encouraging month for Mongolia, November saw significant progress on the political front. After our letter to shareholders discussing the change of leadership, with Prime Minister Chimed Saikhanbileg replacing Mr. Norovyn Altankhuyag, a coalition between the incumbent Democratic Party (DP) and opposition Mongolia People’s Party (MPP) was formed. Further, on Friday, December 5th Prime Minister… Continue Reading
MasterCard launches initiative for poorer East Africans
By Andrei Skvarsky. MasterCard has launched a lab to develop cost-effective digital financial services for poorer population strata in East Africa. Continue Reading
Earnings of senior company execs going up worldwide – survey
By Andrei Skvarsky. The majority of senior company executives worldwide have had their total earnings go up in the last fiscal year, according to a survey by a global association of headhunting consultants. Continue Reading
Investors diversifying emerging markets strategies over slower growth – Economist
Slower growth in emerging markets is making investors abandon strategies that treat emerging markets as a single bloc, according to a research report from The Economist Group, publisher of The Economist weekly. Continue Reading
Lamudi: Property markets in Asia, M. East, Africa, LatAm gaining momentum
By Andrei Skvarsky. Real estate business in many of the emerging and frontier markets in Asia, the Middle East, Africa and Latin America is on the ascent with demand pressing up and foreign capital pouring in, according to online global real estate company Lamudi. Continue Reading
Russian fund Target Ventures leads 20-million-euro round in international cruise booking portal Dreamlines
Source – East-West Digital News The Hamburg-based startup Dreamlines announced yesterday it secured 20 million euros in C Round financing from an international pool of investors led by Target Ventures. Continue Reading
OTKRITIE FC BANK RAISED RUB 21.4 BN OF EQUITY AS PART OF AN SPO
Otkritie FC Bank raised RUB 21.4 bn of equity as part of a follow-on public offering on the Moscow Stock Exchange. Continue Reading
Innovation by companies key as emerging countries strive to catch up with more developed economies
Source – Рreqveca.ru Innovation by companies is a powerful lever that can galvanise growth in emerging countries and help bring their economies in line with their more prosperous neighbours, according to a new report from the EBRD. Continue Reading
ADM Kazakhstan Capital Restructuring Fund in association with Invivo VDP LLP is launching modern medical functional diagnostic center in Almaty city
Source – Рreqveca.ru ADM Kazakhstan Capital Restructuring Fund (ADM KCRF), falling under group of funds with participation of Kazyna Capital Management JSC (Baiterek National Managing Holding), announces the launching a modern medical functional diagnostic center in Almaty city in association with Invivo VDP LLP. Continue Reading