Articles List

Articles List

Gasoline: US Demand Growth Drives Short-Term Price Rally

We have revised up our NYMEX front-month RBOB gasoline forecast for 2015 due to a strong, demand-driven rebound in the price of US gasoline in Q115. In the longer term, weakening demand will depress prices in both the US and Western European markets; Asia will be an outperformer, due to the emergence of a structural deficit of gasoline in the region.

Changes Ahead In Fast-Growing Infant Formula Sector

Infant formula sales in China will grow strongly over the next five years, supported by booming demand for premium products following food safety scandals and the revision of the one-child policy. Manufacturers need to adjust to shifting preferences in terms of distribution channels and stricter regulations on production and sales.

Construction Phase: the Biggest Risk in Asia's Infrastructure Projects

BMI's Project Risk Index indicates that developed markets in Asia have the lowest project risk for investors and developers, while the construction phase of an infrastructure project harbours the greatest risk. Although financing appears to be the least risky stage, we highlight the significant disparity between countries in this regard, with risk pronounced in certain South East Asian economies.

SES Eyes Latin America's 110mn Rural Telecoms Opportunity

SES has identified Latin America as one of its key regions for expansion over the next few years, dedicating significant financial resources and two of its next four satellite launches in pursuit of growing revenues. Brazil and Mexico will provide the most upside, due to large numbers of rural inhabitants

MTN Business Namibia: a Threat or an Opportunity?

MTN Business Namibia's entry into the Namibian broadband market poses an important long term competitive threat to the country's established operators, especially wireline player Telecom Namibia. MTN's sale of a 30% stake in its Namibian unit to a local investor offers a unique opportunity for Telecom Namibia to partner and not compete.

4 Key Macro Trends in Emerging Market Private Consumption

Four key macroeconomic trends will influence EM consumer markets over the coming years: cheaper fuel will present tailwinds and headwinds for consumers; currency depreciation will eat into purchasing power; tight fiscal policy will pinch consumers, and; developed market growth will provide a boost. We broadly favour the consumer markets of Chile, Egypt, India, Mexico, Poland, Saudi Arabia, and the UAE.

Piecemeal PdVSA Reforms Will Not Improve Upstream Prospects

PdVSA's efforts to implement oil sector reforms are unlikely to positively impact Venezuela's production prospects due to continued macroeconomic and political uncertainty within the country. We therefore maintain our bearish oil production outlook as lower oil prices continue to weigh on the sector.

Suzuki Investment Raises Risk Of Losses

Suzuki Motor's effort to position itself as the largest incumbent light vehicle manufacturer in Myanmar will increase risks for the company due to its weak market presence and Myanmar's increasing economic integration with the ASEAN region.