Articles List

Contrarian Thoughts: A Bull Market In Turkey?

Turkish assets have taken a beating in recent years, and for good reason, but when markets refuse to continue weakening on bad news, such as the Fitch debt rating downgrade on January 27, it is very often a bullish sign that even worse news is already priced in, paving the way for further gains.

Indian Generic Drugmakers Well Placed To Improve Foothold

The Tanzanian pharmaceutical industry will remain heavily reliant on medicines sourced from abroad. Indian generic drugmakers are especially well placed to gain a foothold in the Tanzanian market given their drugmakers' cost-competitiveness, supported by healthcare cooperation initiatives between the respective countries. Efforts to develop a more conducive business environment combined with robust economic growth will further boost the market's attractiveness to foreign drugmakers.

Quick View: Budget Allocation For Infrastructure Disappoints

The budget speech delivered on February 23 aligns with our view that construction sector growth will remain tepid until 2020, as the government's focus on social spending turns away attention from major infrastructure development and from improving the overall business environment to stimulate private investment.

Political And Security Risks Will Inhibit Growth

Economic growth in Turkey will remain well below historical averages in the years ahead, as a deteriorating political and security environment undermines consumption and investment. The AKP government will inauspiciously attempt to counter slowing growth through increased spending, which alongside a number of other policies will exacerbate certain macroeconomic imbalances, such as a wide external shortfall and low domestic savings rate.

Key Monthly Views: Growth Picks Up While EM Equities Face A Test

The global economy has begun 2017 on the front foot, with most of the high-frequency indicators that we use to gauge near-term economic activity in positive territory and accelerating. We forecast a significant acceleration in world real GDP growth to 2.8% in 2017 from 2.4% in 2016, and this will also help to push up inflation to 3.1% in 2017, a five-year high and up from 2.4% in 2016.

Brexit: Implications For UK Industry

The impact of Brexit on UK industry over 2017-2021 will be felt through five key channels: weaker domestic demand (2017-2019), investment delays (2017-2019), higher input costs (ongoing), public funding cuts (post-2019) and export realignment (post-2019). The more distant the UK's eventual relationship with the EU, the greater the magnitude of these impacts will generally be.

Quick View: Canada Goose Spreading Its Wings But IPO Not Without Risks

Luxury winter coat maker Canada Goose Holdings Inc has filed for an initial public offering (IPO) on the Toronto and New York stock exchange, with the company valuation expected to reach USD2bn. This would represent the largest IPO by an apparel retailer in North America since Lululemon in 2007.

Sigfox/Telefónica Deal Confirms View

The deal between Sigfox and Telefónica confirms two of our core IoT views. The first is that Sigfox needs scale to become the global leader within the LPWA segment. The second is that operators will elect different IoT strategies, with Telefónica choosing to include multiple technologies in order to provide the widest range of services possible.

Strong Economy Allows For Additional Spending

The Czech Republic's budget deficit will widen in the quarters ahead, but the government debt burden will decline on account of strong economic growth. The bulk of additional spending will be on account of the legislative elections in October and recovering European structural fund inflows boosting capital expenditure.

What Our Clients Want To Know: MENA Economic And Autos Outlook

In February, BMI spent time with clients at meetings and events in Dubai. During the trip the topics covered included the global macroeconomic and autos outlook, key themes for the sector and the outlook for the industry in the MENA region. The most common questions asked are covered here.




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