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24 - 30 September 2016

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From the CEO OF EMIS

Last week the World Economic Forum released its annual Global Competitiveness Report and there was one clear winner from an emerging markets perspective. India jumped 16 places and is now ranked 39th in the world in terms of competitiveness.

The WEF defines competitiveness as “the set of institutions, policies, and factors that determine the level of productivity of a country” and takes into account factors such as infrastructure, education and technological readiness.

The report notes that the Indian economy has benefited substantially from improved monetary and fiscal policies and lower commodity prices. In addition, India’s rise is attributed to efforts to open the country up to foreign trade and to improve public institutions.

But, as the report also notes, there is still much to do. India ranks 110th in terms of technological readiness and 85th for health and primary education. Huge investment is still required to ensure that India’s rural community benefits from economic growth driven from urban areas.

Nevertheless, India’s story continues to be one of the most positive of 2016 and Prime Minister Modi’s economic agenda appears to be bearing fruit. The Asian Development Bank is forecasting 7.4% growth this year and attributes this performance largely to structural reforms implemented by the Indian government – something that other large emerging markets like Russia and Brazil would do well to imitate.


Guy Dunn
Chief Executive Officer.


P.S. Here are some articles on the results of the Global Competitiveness Report from the EMIS platform in the past week.

GEORGIA IS TOP PERFORMER
IN EURASIA

Georgia has one of the most improved economies in Eurasia, says the Global Competitiveness Report 2016–2017, which also forecast that Georgia's economy will grow more than other Eurasian countries this year.

Read more  

THAILAND'S COMPETITIVENESS RANKING COULD FALL FURTHER

Thailand's ranking in the Global Competitiveness Index of the World Economic Forum (WEF) could decline further next year if sufficient progress is not made in development under three pillars.

Read more  

KOREA’S WEAKENING COMPETITIVENESS

The 2016 World Economic Forum's Global Competiveness Index (GCI) report released Wednesday ranked Korea 26th out of 138 countries for the third consecutive year. This is far below Korea's highest GCI ranking of 11th in 2007.

Read more  



Infographic of the week

South Korea's transport sector is one of the most developed in the world. The industry has grown rapidly over the last ten years, driven by public investment in infrastructure and incentives for private investment to the sector thanks to public–private partnerships, low taxes and relaxed regulations.

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.

INDIA IS NOW THE WORLD'S 5TH
LARGEST CARMAKER

For the first time in a decade, India unseats Korea from its top 5 spot in automobile production, producing 2.57 million cars compared with Korea’s 2.55 million for the first seven months of the year.




Read more…
BRITISH AMERICAN TOBACCO & PHILIP MORRIS TO FACE TAX EVASION CHARGES

An investigation from South Korea’s Board of Audit and Inspection revealed that Philip Morris and British American Tobacco stocked cigarettes ahead of a planned price hike by the government in 2015 and selling them after.



Read more…
DELOITTE: INDIA'S FILM INDUSTRY TO
GROW 11% BY 2020

A recent report by Deloitte stated, “In terms of revenue, the Indian film industry has gross box office realizations of USD 2.1 billion which is expected to grow at 11 per cent CAGR reaching USD 3.7 billion by 2020.”



Read more…
PETROBRAS SETS REDUCTION OF
INDEBTEDNESS AS TOP PRIORITY

Brazil’s state-run oil company Petrobras has set the reduction of its indebtedness as a top priority. The company targets to lower the net-debt-to-EBITDA ratio to 2.5 times by 2018.




Read more…
ARGENTINA CHANGES TELECOM RULES TO LURE $20BN INVESTMENTS

According to Communications Minister, Oscar Aguad, Argentina hopes to lure some $20 billion investments in its telecoms sector in the course of four years thanks to new legislation changes.




Read more…
MEXICO’S ENERGY REFORMS TO PROVIDE $22 BN INVESTMENTS

Mexico’s Energy Minister, Joaquín Coldwell, has revealed that energy reforms will provide some $22 billion investments. Mexico is due to hold its second electric power auction on Friday.



Read more…

CHINESE COMPANY PLANS $30MN INVESTMENT IN ROMANIA

Chinese car parts maker Ningbo HuaXiang Electronic Co Ltd plans to invest $30 million in a new production hall in Brasov, central Romania, BBJ - Regional Today reported on Monday citing Romanian media reports.



Read more…
TURKEY TO PROVIDE EDUCATION TO UP TO 450,000 SYRIAN REFUGEE CHILDREN

Turkey's Deputy Minister of Education, Orhan Erdem, announced this week, "This year our goal is to educate them all. However, we can only provide education for 400 to 450 thousand of them."



Read more…
RUSSIAN ICE-CREAM IN DEMAND IN CHINA

Russian ice-cream enjoys growing demand in China with as Russian exports reached some 270 tonnes worth $863,000 in the first eight months of this year, Izvestiia Bizekon Report reported on Thursday.




Read more…
INDIAN COMPANIES PLAN TO INVEST $5BN
IN NIGERIA

Nigeria’s President, Muhammadu Buhari, has welcomed the proposed investments of $5 billion, pledged by an Indian business delegation, Leadership News reported on Wednesday.



Read more…

FITCH CUTS ANGOLA’S RATING AS THE ECONOMIC SITUATION DETERIORATES

The global credit rating agency Fitch has downgraded Angola’s long-term foreign and local currency IDRs to B from B+ as oil prices remain weak, CEEMarketWatch - Daily News reported on Monday.




Read more…

OPEC COUNTRIES AGREE TO CURB DAILY
OIL PRODUCTION

The OPEC countries have agreed to limit oil production at the range of 32.5-33.0 million barrels a day, newswire Prime reported on Thursday citing Iranian Oil Minister Bijan Zangeneh.




Read more…

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