Request a demo   06 February 2017 FROM THE CEO OF EMIS The Romanian government’s decision to release from prison a number of officials convicted of corruption has provoked a backlash that bodes well for the long-term future of the country and others like it. For too long, corruption at the highest level has been seen as the norm in a number of developing countries and there has often been a tired acceptance on the part of citizens that their leaders will abuse positions of power for private gain.  Prime Minister Grindeanu probably did not foresee the sizeable protests that resulted from his government’s decision and will be hoping that Romanians will be appeased by upcoming budgetary measures that are likely to boost wages. This may be a miscalculation however. Throughout the emerging world we are starting to see far more staunch opposition to institutional corruption. Voters are less likely to turn a blind eye to malpractice and the collapse of governments in countries like Brazil and Croatia should act as a warning to any politician who still believes that they are above the law.  Corruption has long hindered the development of much of the emerging world. Protests like those we are seeing in Romania suggest that tolerance for the old way of doing things is wearing thin. Guy Dunn P.S. Here are a few articles on this topic from the EMIS platform last week. You may also be interested in viewing our annual report on M&A activity in emerging Europe produced in association with CMS. THOUSANDS MARCH IN ROMANIA AGAINST CORRUPTION Romania's government faced mounting pressure after the biggest protests since the fall of communism against what critics say is backtracking in the impoverished country's long battle with corruption.   Read more   ESTONIA: 'LEGALLY PROPER' BUT UNETHICAL BUSINESS SCHEMES WILL RADICALIZE POLITICS According to the chairman of the Riigikogu's anti-corruption committee, Artur Talvik, cases like Toomas Hendrik Ilves' company and its grant scandal as well as Reform Party heavyweight Rain Rosimannus' secret involvement in the purchase of a large state-owned property radicalizes voters and makes them more likely to elect extremist politicians.   Read more   IMPROVING GOVERNANCE IS KEY TO ENSURING EQUITABLE GROWTH IN DEVELOPING COUNTRIES A new World Bank policy report urges developing countries and international development agencies to rethink their approach to governance, as a key to overcoming challenges related to security, growth, and equity.   Read more   INFOGRAPHIC OF THE WEEK GOING UNDERGROUND: MEXICO'S MINING SECTOR GLOBAL POSITION In 2015, Mexico was the 13th largest mine producing country in the world, with a share of 1.7% of global output in value terms, according to SE. Compared to the 2011 ranking, the country climbed two positions, mainly due to increase in domestic mining output above the world-average.     Click to view it full screen   WEEKLY NEWS SUMMARY Below are the most read articles in the past week on EMIS Perspectives, our daily blog of emerging market news and insights.   ASIA   INDIAN AIRTEL’S UNIT DENIES REPORTS FOR EXITING AFRICA Airtel Africa, the continental arm of Indian telecom group Indian Airtel, denied media reports that it would exit Africa, Modern Ghana reported on Tuesday citing a company’s statement.    Read more   CHINESE CONSUMERS A BOON TO SOUTH KOREA COSMETICS INDUSTRY According to industry experts, the growing interest of Chinese consumers in beauty products continues to propel exports of South Korean cosmetics.   Read more   MALAYSIA TO STEP UP TRADE WITH OTHER ASIAN COUNTRIES AFTER US TPPA WITHDRAWAL Following the United States’ official withdrawal from the Trans-Pacific Partnership Agreement (TPPA), Malaysia intends to focus on trade with ASEAN member states, as well as China, India, Japan, and South Korea.    Read more           LATIN AMERICA         MEXICO’S AUTO-PARTS EXPORTS HIT RECORD HIGH IN JAN-NOV 2016 Mexico’s auto-parts exports reached a value of USD 24.01bn between January and November 2016, achieving a historical record for the sector.    Read more   BRAZILIAN UNIT OF CARREFOUR TARGETS TO RAISE $3BLN-$3.5BN IN IPO - MEDIA The Brazilian unit of French retailer Carrefour targets to raise between $3 billion and $3.5 billion in its initial public offering IPO.   Read more   BRAZIL POSTS WORST BUDGET DEFICIT IN 20 YEARS Last year, Brazil marked a budget deficit of 154.25 billion reals ($49.4 million), or 2.4% of GDP, its biggest budget gap in 20 years.   Read more                 EMERGING EUROPE               PUTIN, TRUMP WANT TO STABILISE, IMPROVE BILATERAL TIES The presidents of the Russia and the US Vladimir Putin and Donald Trump in their first phone call on Saturday expressed readiness to make joint efforts to improve bilateral ties.   Read more   TURKEY EXPECTS 5 MILLION RUSSIAN TOURISTS IN 2017 Turkey hopes to host 5mn Russian tourists this year as relations between the two countries thaw, BYEGM reported referring to the leading Turkish tour operators that took part in the World Tourism Forum's Russia Summit 2017.    Read more   HUNGARY’S RAILWAYS EMPLOYEES TO GET 30% WAGE HIKE IN NEXT THREE YEARS The employees of Hungary’s state railway firm MAV will see their wages rising by almost a third in the next three years, Hungary Around the Clock reported referring to railway trade union VSZ..   Read more                    MIDDLE EAST & AFRICA                  IRAQI FOREIGN MINISTER SURPRISED BY TRAVEL BAN, SAYS US CITIZENS FIGHT FOR ISLAMIC STATE Iraq is surprised by the US travel ban as no Iraqis have been charged with terrorism in the US, while there are US citizens fighting for Islamic State in Iraq, Iraqi’s Foreign Minister Ibrahim al-Jaafari told the US ambassador to Baghdad.   Read more   MONTENEGRO AIRLINES TO LAUNCH CHARTER FLIGHTS TO IRAN Montenegro Airlines will start operating this summer charter flights to Iran, according to media reports referring to the carrier's chief commercial officer, Zoran Radunovic.    Read more   GHANA’S INSURANCE MARKET TO REACH $600 MN BY 2018 Ghana’s insurance market is expected to reach $600 million by 2018, rising by 8.5% annually, Vanguard-Nigeria reported on Monday citing a survey by UK consultancy Oxford Business Group.    Read more   ABOUT EMIS EMIS operates in and reports on countries where high reward goes hand-in-hand with high risk. 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