By Andrei Skvarsky. Russia’s biggest lender Sberbank and Agricultural Bank of China (AgBank), one of the Asian country’s four largest state-owned commercial banks, have signed a memorandum of understanding pledging cooperation in a wide range of activities. {{{*}}} Trade financing and ruble and yuan settlements are some of the business lines covered by the memorandum, signed… Continue Reading
Tag Archives: China
Markit says world business, mainly US and Chinese firms, upbeat about 2013
By Andrei Skvarsky. According to Markit, a global financial information services company, {{{*}}} the global business community is today much more upbeat about the year ahead than it was last October, with the United States and China showing the highest optimism. “Worldwide business confidence has revived from the post-crisis low seen late last year, with… Continue Reading
GOLDMAN SACHS COMMENT: From the weekly Viewpoints of Jim O'Neill, Chairman of Goldman Sachs Asset Management
European Glory. So yet another year of European dreams comes {{{*}}} to an end for United, and this time in such harsh circumstances. Last Tuesday in Manchester had it all. As I wrote at the time of the draw for the last 16 in the Champions League, for me, it brought back memories as a… Continue Reading
RDIF, VEB, France’s CDC sign private equity promotion deal
By Andrei Skvarsky. Russia’s Direct Investment Fund (RDIF) and VEB development bank and France’s Caisse des Depots et Consignations (CDC), {{{*}}} all of which are state institutions, have signed an agreement to boost private equity investment in the two countries. The deal – a memorandum of understanding – was signed in Moscow on February 28… Continue Reading
EAST CAPITAL COMMENT: Chinese equities going from strength to strength
By Gustav Rhenman, Portfolio Manager, East Capital. The outlook for Chinese equities remains upbeat after they rallied for the fifth month in a row. Among emerging markets, China stands out thanks to accelerating economic growth, rebounding industrial profits and fresh evidence that the country’s real estate market is not a bubble. {{{*}}} Since September 2012,… Continue Reading
SBERBANK the world’s 13th most valuable brand – Brand Finance
By Andrei Skvarsky. {{{?}}} Sberbank’s brand value has earned Russia’s biggest lender 13th place in this year’s Top 500 Banking Brands ranking compiled by Brand Finance, a London-based brand valuation consultancy. The 500-name league table values Sberbank’s brand at $14.16bn compared with the valuation of $10.77bn on the 2012 list, where the Moscow-based firm was… Continue Reading
SBERBANK COMMENT FROM CHRIS WEAFER: Russia in context – an expected journey
By Chris Weafer, Chief Strategist, Sberbank Investment Research. It does not do to leave a live dragon out of your calculations, if you live near him. J.R.R. Tolkien, The Hobbit US budget worries have balanced out macro optimism. Markets have been in something of a zero-sum game in recent weeks as the lingering concern over… Continue Reading
GOLDMAN SACHS COMMENT: Our weird but beautiful world
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. My week kicked off with a tough Monday start following the Rolling Stones concert Sunday night, but what a boost it gave me. Keith, Mick and the boys rocked on for two and a half hours. It really is quite an inspiration that such serious and serial… Continue Reading
GOLDMAN SACHS COMMENT: Washington and Beijing
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. Washington and Beijing. This week has been an important news week, at least for the media, for political developments in the US and China. I would question whether anything has materially changed as a result of the US election and the Chinese leadership handover. The stock markets… Continue Reading
GOLDMAN SACHS COMMENT: Some Questions for the Asian Economic Century
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. I returned from a quick trip through parts of Asia on Saturday, thinking that we have reached a critical stage in terms of economic policy and development in many parts of that region, especially in terms of whether this century will turn out to be “theirs” in… Continue Reading
VTB Capital makes two hires for Asia top brass
By Andrei Skvarsky. Russia’s VTB Capital has hired Daren Wong, previously a senior executive at Bank of China in Hong Kong, as head of high yield trading for Asia, and appointed former Merrill Lynch banker Roger Suyama to oversee Indonesia coverage. Wong, who will be based in Hong Kong, headed Morgan Stanley’s unit for Asia… Continue Reading
GOLDMAN SACHS COMMENT: Markets and Moods
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. Markets and Moods. So, here’s the situation. The mood is grim. A lot of economic data has turned grimmer, which makes many people so bearish about many things, markets included. Much of the “mood” centres on a sense of hopelessness about Europe, with the risk on/risk off… Continue Reading
GOLDMAN SACHS COMMENT: Apple, China and the Growth Markets
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. This past week, I spent 3 days in the US, in New York and Chicago. The main purpose of my NY visit was to host our 2nd GSAM Growth Markets Summit, which was quite an event, with many interesting speakers, panels and a great list of clients.… Continue Reading
VTB Capital plots IPO route through new Hong Kong office
VTB Capital, the Russian state-controlled investment bank, is hoping to arrange “three or four” IPOs through its new Hong Office next year. The bank’s deputy chairman Yuri Soloviev said the listings would be in the energy and metals and mining sectors, according to the Hong Kong Economic Journal. The Hong Kong team will be boosted… Continue Reading
China to launch investment fund for Russia
By Andrei Skvarsky. China plans to launch a fund to help Chinese small and medium-sized firms to invest in Russia. China’s National Development and Reform Commission has invited Russia to join the fund when the latter becomes well-established, according to Chinese news agency Xinhua. Continue Reading