Goodwill Pharma seeks investors for Serbian expansion
News from Emerging Markets
Oil Minister Sherif Ismail said that Egypt aims to pay back $2bn to $3bn it owes to oil and gas companies by the end of the year, as the government tries to spur new investment to boost supplies, Reuters reported. The Arab world's most populous country faces its worst energy crisis in decades.
Alliance DBS Research estimates the fuel subsidy cut, which came into effect on Thursday, will enable the government to save around RM1.1bil in 2014. The government, which reduced the subsidy for RON95 petrol and diesel by 20 sen per litre, would help it achieve its fiscal deficit target of 3% by 2015 and a balanced budget by 2020.
The International Monetary Fund halved its forecast for Russia's 2015 gross domestic product to 0.5 percent on Wednesday, saying that international tensions had created downside risks to its estimates.
Alatur JTB , the second largest operator of corporate tourism in Brazil, bought 51% of Quickly Travel, a company specializing in business travel and leisure to Japanese costumers. The transaction value was not disclosed.
Growth in China's manufacturing sector remained subdued in September, a sign that the world's second-largest economy is still struggling to recover its momentum. The official Purchasing Managers' Index hovered at 51.1, the National Bureau of Statistics said on Wednesday, indicating a modest expansion in activity.
Expecting better investment climate in India in the years ahead, Fitch on Wednesday said that GDP growth will pick up to 5.6% in FY15. "India will be the only BRIC country where growth picks up in 2014, to 5.6%, with an expected further increase to 6.5% in 2015 and 2016 due to an expected improvement in business environment," Fitch said.
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