Articles List

Articles List

A slow and steady recovery for India's construction infrastructure

Our near-term growth outlook for India's construction and infrastructure sectors remains conservative. Even though the Bharatiya Janata Party-led central government is gaining greater political support and making progress in creating a business-friendly investment climate, we believe several factors that are dampening construction and infrastructure activity are still unlikely to be resolved anytime soon.

Kosovo's 4G launch a burden to finances

The launch of 4G just one year after 3G was introduced into the mobile market is somewhat premature as the latter remains an underdeveloped, although fast-growing, technology. Operators would do better to spend on improving and expanding 3G services, as the limited returns in Kosovo mean that investment strategies will result in ongoing net losses.

Latin America still mouth-watering for beer companies

Latin America's largest beer markets will continue to offer strong growth opportunities over our forecast period to 2018. Despite the private consumption slowdown, Brazil remains an attractive destination thanks to the size of its beer market. Premiumisation will drive beer sales in Mexico while in Colombia, lower per capita consumption leaves room for growth over the long term.

Robust Banking Sector Asset Growth Ahead

The Zambian banking sector will continue to expand robustly over the years ahead with asset growth set to be driven by loan expansion, and increased take-up by retail clients of more sophisticated banking services such as debit cards. Mobile banking will also play an important part in the growth of the Zambian banking sector.

Mining & Metals Equity Outlook

We expect mining equities to continue facing headwinds into 2015 and therefore expect the Bloomberg World Mining Index to underperform broader global equities. Miners' performance will be capped by subdued mineral prices resulting from ample supply and slowing demand growth from China.

Cautious despite lowered risks to Kazakhstan's infrastructure PPP model

While international partners have helped Kazakhstan improve the legislative and regulatory models for PPPs in the country, we remain cautious about the attractiveness of the market. An uncertain political future, exposure to the Russian economy, and a poor record on corruption and transparency will keep investors away from projects which are not directly linked to bodies such as the EBRD.

Lower oil prices spur capex optimisation in US

ConocoPhillips's announced capex reduction strategy for 2015 underscores the adverse effects of declining oil prices on the development of peripheral shale acreage, as major producers reassess their exploration and production plans.