Revista Business Inside

8/12/2019 Revista Business Inside

1/27

BUSINESSINSIDE

BUSINESSINSIDE

IN THIS ISSUE:

1.EXPERT FOCUSWall Street Journal reporter aboutBra!l pro"!#!n$ %uture

HO&EBOX&ol'o(a !"pre##e# EU )!t*re%or" a$en'a+ re,e!(e# -./ bn !nple'$e#

&ol'o(a an'WB a$ree on -0 "a''!t!onal %un'!n$ et,.

.23OBE 4OO&WTO:Worl' tra'e to rebo!n' b56+78 !n 010

F!t,* 'o)n$ra'e# Portu$al to9;9

Irelan': E,ono"5 #*r!n


2/27

BU

SINESSINSIDE)

1.*

).+

*1*Bu#!n

e##at5our#!'e

... ,learl5+ Bra!l *a# turne' a

t*e *e%t+ a"b!t!on an' e,ono"!,

%un'a"ental# to be,o"e a )orl' attr!bute' to MBra!l !# not apo)er ... Q

*o"a#.E..De)e5


3/27

Bu#!ne##atyourside

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.

01

0

... Mt*!# !# a '!erent Bra!l t*an 10

'a S!l(a boa#te' re,entl5. Ba,< t*en+*e #a!'+ Mt*e ,r!#!# !n 2ree,e )oul'

!"ou#"t o$ t"e wee%No

"an #*oul' be !n publ!, o,e )*o ,an9t "a

%ro" roa'#+ ra!l)a5# an' br!'$e# to 'o,


4/27

Bu#!ne##atyoursideBUSINESSINSIDE1.0

.

01

0

BUSINESSINSIDE

not;%or;proAt re#ear,* $roup t*at #tu'!e# publ!, #pen'!n$+ !n a

#tu'5 t*!# "ont* #a!' t*at onl5 118 o% t*e proe,t# outl!ne' !n

t*e plan *a(e been ,o"plete'+ )*!le u#t o(er *al% *a(e 5et to

be laun,*e'.

To ,a#ual ob#er(er#+ t*!n$# )!ll loo< better a# Bra!l $ear#

up %or *o#t!n$ #o,,er9# Worl' Cup !n 01? an' t*e Su""er

Ol5"p!,# !n R!o 'e Jane!ro !n 01/. Ne) roa'# an' a!rport

ter"!nal# )!ll be ,*r!#tene' alon$ )!t* "o'ern!e' #ta'!u"#

an' #,en!,+ )ell;pol!,e' pro"ena'e#. But "anu%a,turer#+

eLporter# an' #*!pper#)*o re$ularl5 )a!t 'a5# or )ee

Bra!l9# pol!t!,!an# an' le$!#lator# o%ten run a%oul o% t*e

la)+ a# )ell.T*e ,ountr59# Fe'eral Pol!,e+ !t# "o#t re#pe,te'

la);en%or,e"ent bo'5 an' t*e a$en,5 ,*ar$e' )!t* A$*t!n$

,orrupt!on+ ,urrentl5 *a# nearl5 0+000 a,t!(e !n(e#t!$at!on#

relate' to publ!, ,orrupt!on an' %rau'+ a,,or'!n$ to a re,ent

report.T*e 'epo#e' $o(ernor o% Bra#l!a+ Bra!l9# ,ap!tal+ at t*e

"o"ent #!t# !n a!l a)a!t!n$ tr!al o(er alle$e'

to

Republ!, o% &ol'o(a an' !t# !nternat!onal 'e(elop"ent

partner# ,on(ene' %or t*e Con#ultat!(e 2roup &eet!n$:

&ol'o(a Partner#*!p Foru".T*e "eet!n$ )a# o!ntl5 ,o;,*a!re' an' *o#te' b5 t*e European Co""!##!on an' t*e

Worl' Ban


5/27

Businessatyourside

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01

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BUSINESSINSIDE

a$ree"ent #!$ne' !n Januar5 010+ an' t*e %un'# pro(!'e' !n

t*e F!nan,!n$ $ree"ent o% YCo"pa,tZ pro$ra"+ #!$ne' !n

Wa#*!n$ton !n 010. Dur!n$ t*e Foru" YPartener!at pentru

&ol'o(aZ+ pr!"e;"!n!#ter Vla' F!lat+ to$et*er )!t* European

,o""!##ar5 %or ELten#!on an' Ne!$*bor!n$ Pol!,5 Ste%an Fule+

#!$ne' t*e "e"oran'u" bet)een European Co""!##!on an'

&ol'o(a re$ar'!n$ t*e &ol'o(a[ # ##!#tan,e Pro$ra" %or

5ear# 010;01.T*!# pro$ra" pre#uppo#e# Anan,!al

a##!#tan,e a"ount!n$ to =+? ". &ol'o(a re,e!(e# t*e

#e,on';lar$e#t #*are o% EU a!' per ,ap!ta a%ter t*e Pale#t!n!an

terr!tor!e#.

&ol'o(an 2o(ern"ent )!ll re,e!(e Anan,!al a##!#tan,e

%ro" European Co""un!t5 \]770 "G+ EU ,ountr!e#;"e"ber#

\]1@=+7= "G+ US \]=+?1 "G+ !nternat!onal Anan,!al

!n#t!tut!on# \67=+7G " \Internat!onal &onetar5 Fun'+Worl'

Ban

!"ple"entat!on o% t*e proe,t# !# 7 "ont*#.T*e ,o#t o% "!,ro;

proe,t# )!ll (ar5 %ro" - 100 000 to - 00 000.T*e

,ontr!but!on o% lo,al ,o""un!t!e# )!ll "a

"G.,,or'!n$ to t*e

Nat!onal Bureau o% Stat!#t!,#+

t*e !n,rea#e )a# 'ue to t*e !n,rea#e# !n %oo'#tu #ale# b5 8

an' non;%oo'#tu #ale# b5 1+18. Reta!l #ale# $ro)t* )a#

re$!#tere' at enterpr!#e# )!t* %ore!$n ,ap!tal part!,!pat!on an'

,o"pan!e# o% %ore!$n o)ner#*!p \b5 7+=8G+ a# )ell a# pr!(ate

o)ner#*!p ,o"pan!e# \b5 0+/8G. &ean)*!le+ ,o"pan!e# o%

"!Le' an' publ!, o)ner#*!p *a(e #een t*e!r #ale# 'o)n b5

1/+=8 an' ?8+ re#pe,t!(el5. On &ar,* 1#t+ !n(entor!e# o% tra'e

enterpr!#e# )ere 'o)n b5 .68+ ,o"pare' to t*e pre(!ou#

5ear per!o' an' a"ounte' &D37.?? bn. re$!onal outlooreat BritainA +**;current accountefcit own 15.)6

7o7 irectin(estments ownC162reat Br!ta!n ,urrent a,,ount

re,or'e' a 'eA,!t o% `1.= bn !n

t*e %ourt* uarter o% 006+

euat!n$ to ;0.7 8 o% 2DP.T*!#

,o"pare# )!t* a re(!#e' 'eA,!t o%

`7.6 bn \;1.= 8 o% 2DPG !n t*e t*!r' uarter. 'eA,!t o% `@.

bn )a# re,or'e' )!t* t*e EU ,o"pare' )!t* a 'eA,!t o% `.6

bn !n t*e pre(!ou# uarter.

In 006+ t*e ,urrent a,,ount )a# !n 'eA,!t b5 `1@.? bn

\;1. 8 o% 2DPG+ ,o"pare' )!t* a 'eA,!t o% `.0 bn !n 00@

\;1.7 8 o% 2DPG.T*e 'eA,!t on tra'e !n $oo'# !n t*e %ourt*

uarter )a# `1.0 bn+ ,o"pare' )!t* `16.@ bn !n t*e pre(!ou#

uarter. ELport# ro#e b5 `?.? bn+ an' !"port# ro#e b5 `7./ bn.

T*e 'eA,!t on tra'e !n $oo'# )a# @1.@ bn !n 006+ ,o"pare'

)!t* `6.? bn !n t*e pre(!ou# 5ear.

T*e tra'e !n #er(!,e# #urplu# )a# `1.? bn !n t*e %ourt*

uarter+ `0. bn *!$*er t*an !n t*e pre(!ou# uarter. ELport#ro#e b5 `0.= bn to `6.6 bn "a!nl5 reKe,t!n$ an !n,rea#e !n

Anan,!al+ tran#portat!on an' ,o""un!,at!on #er(!,e#+ partl5

o#et b5 a re'u,t!on !n ,o"puter an' !n%or"at!on an' ot*er

bu#!ne## #er(!,e#. I"port# ro#e b5 `0.? bn to `=.7 bn+

reKe,t!n$ !n,rea#e# !n $o(ern"ent an' ,on#tru,t!on #er(!,e#.

T*e #urplu# %or tra'e !n #er(!,e# )a# `?6. bn !n 006+ a

%all o% `7.@ bn ,o"pare' )!t* 00@. ELport# 'e,rea#e' b5 `6./

bn bet)een 00@ an' 006> !"port# 'e,rea#e' b5 `.@ bn

'ur!n$ t*e #a"e per!o'.T*e %all !n eLport# )a# "a!nl5 %ro"

Anan,!al an' ot*er bu#!ne## #er(!,e#.T*e %all !n !"port# )a#

"a!nl5 !n tra(el+ )*!,* )a# partl5 o#et b5 an !n,rea#e !n ot*er

bu#!ne## #er(!,e#.

D!re,t !n(e#t"ent !nto t*e U #*o)e' net !n(e#t"ent o%

`1.1 bn !n t*e %ourt* uarter+ `17.1 bn *!$*er t*an !n t*e

t*!r' uarter+ "a!nl5 'ue to *!$*er !n(e#t"ent !n eu!t5

,ap!tal. Net !n(e#t"ent !n eu!t5 ,ap!tal !n,rea#e' to `17. bn

!n t*e late#t uarter+ %ro" `. bn !n t*e t*!r' uarter+

re!n(e#te' earn!n$# 'e,rea#e' b5 `0.@ bn to `/.1 bn+ )*!le net

outKo)# o% ot*er ,ap!tal %ro" t*e U %ell to `0. bn !n t*e

%ourt* uarter+ %ro" `. bn !n t*e pre(!ou# uarter. Net

!n(e#t"ent !n non;Anan,!al ,orporat!on# an' !n ban


10/27

Bu#!ne##atyourside

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ESSINSI,E

1.0

.

01

0


11/27

Businessatyourside

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1.0

.

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BUSINESSINSIDE

U%raineA Balance

o$ paymentsefcit up &y Ctimes,,or'!n$ to t*e prel!"!nar5

'ata+ t*e U

$enerate# anal5#e# ba#e' on #ale# '5na"!,# o% tra'!t!onal

#*op#+ #tall#+ $ro,er!e#+ "!n!"ar


12/27

Business

atyourside

BUSIN

ESSINSI,E

31.03.2010

BUSINESSINSIE

Reta!l "ar

t*e re$!on !n Februar5+ no ,alen'ar eHe,t o,,urre'. Co"pare'

to t*e pre;,r!#!# le(el# o% Januar5 an' Januar5; Februar5 00@+

ne) ,ar re$!#trat!on# 'e,rea#e' b5 178 an' 1/8 re#pe,t!(el5.

In Februar5+ a total o% 6=?+?/ ne) ,ar# )ere re$!#tere'

!n Europe+ or .08 "ore t*an !n Februar5 006. 'e,rea#e !n

EuropeX# #e,on' lar$e#t "ar


13/27

)1.*

).+

*

1*

Business

at5our#!'eBUSINESS

INSIDE

BUSINESSINSIE

FIT

3NCI

3F RO&EO

Ot*er# \G

>/ >roup

OPE3^VUXH33

CHEVRO3ET

SB

2& \USG

!7!< >roup

TOOT

3EXUS

B/3 >roup

B&W

&INI

"o'el# #u,* a# !t# 2eel5 FC+ & an' 3C "o'el#. It# #ale#

tar$et %or t*!# 5ear !# ?00+000 un!t#+ )*!,* )oul' repre#ent a

8 !n,rea#e on la#t 5ear.

For' en'e' t*ree 5ear# o% lo##e# )!t* net !n,o"e o% -.=

bn !n 006 an' )a# t*e onl5 "aor U.S. auto"a

Ja$uar an' 3an' Ro(er !n t*e U *a(e alrea'5 been #ol' to

In'!a9# Tata &otor#. For' *ope# t*at t*e #ale o% Vol(o )!ll *elp

!t pa5 o !t# 'ebt# an' %o,u# on !t# ,ore bran'#+ %ollo)!n$ a

'!re per!o' %or t*e $lobal ,ar !n'u#tr5.T*e 'eal repre#ent# a

lo## %or For'+ *o)e(er+ *a(!n$ bou$*t Vol(o !n 1666 %or

-/.7bn.T*e ,o"pan5 )!ll ,ont!nue to #uppl5 Vol(o )!t*

,o"ponent# an' ot*er #er(!,e# 'ur!n$ a *an'o(er per!o'.

Vol(o #ol' ?+000 ,ar# !n 006+ 'o)n 108 on 00@ A$ure#.

Ho)e(er+Vol(o #ale# !n t*e Un!te' State# )ere up b5 ?08 !n

t*e Ar#t t)o "ont*# o% t*!# 5ear.

C*!na ra,e' pa#t t*e U.S. to be,o"e t*e )orl'9# top auto

"ar

2ot*enbur$+ S)e'en+ "ar


14/27


15/27

Businessatyourside

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BUSINESSINSIDE

per!o'.l#o !n,lu'e' !n t*e !nternat!onal #e$"ent re#ult# !#

approL!"atel5 - "" relate' to non;,a#* a"ort!at!on

eLpen#e# o% !ntan$!ble a##et# relate' to a,u!re' tra'ena"e#

an' ,u#to"er relat!on#*!p# !n Be#t Bu5 Europe.

For A#,al 010+ Be#t Bu59# Anan,!al re#ult# !n,lu'e': total

re(enue o% -?6.= bn+ a 108 !n,rea#e 5ear;o(er;5ear\ onl!ne

re(enue# !n,rea#e' 08 to approL!"atel5 - bnG> t*e ,o"pan5

bel!e(e# 'o"e#t!, "ar

Be#t Bu5 &ob!le>u'!o(!#!on#>T*e Carp*one Ware*ou#e>

Future S*op> 2ee< Sua'+ F!(e Star> &a$nol!a u'!o V!'eo>

Nap#ter> Pa,!A, Sale#>T*e P*one Hou#e> an' Spea

717.? "" !n 006+ Natu! 2roup eLport# !t# !nno(at!(e *!$*;ual!t5 #o%a# an' ar",*a!r# to 1 "ar t*e total annual o!l an' $a# pro'u,t!on )a# 1.16/ bn

barrel#+ up 1.8 5ear;on;5ear.T*e eLplorat!on an' pro'u,t!on

1

!"ou#"t o$ t"e wee%No! ! !

man should be in public oce who can!t ma"e more money in pri#ate life.! ! ! ! ! ! ! ! T*o"a#.E..De)e5


16/27

Businessatyourside

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1.0

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BUSINESSINSIDE

#e$"ent real!e' operat!n$ proAt o% R&B107.0 bn+ 'e#p!te a

#*arp 'rop !n t*e o!l pr!,e 5ear;on;5ear. It re"a!n# a an' e#t!"ate' to be -0.? to -0.?? !n

a,,or'an,e )!t* $enerall5 a,,epte' a,,ount!n$ pr!n,!ple#

\2PG+ ,o"pare' to our pr!or $u!'an,e ran$e o% -0.7 to

-0.6.

CD&;ba#e' &ob!le Stat!on &o'e"T& \&S&T&G

#*!p"ent# are eLpe,te' to be approL!"atel5 6 to 6 ""

un!t# ,o"pare' to our pr!or $u!'an,e ran$e o% @@ to 6 ""

un!t#.

ual,o"" $et# "o#t o% !t# re(enue %ro" #uppl5!n$ ,*!p#

to p*one "a

2roup9# *5per"ar


17/27

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I. F?KSMF

Coruna+ 2al!,!a+ t*e ,enter o% t*e Iber!an teLt!le !n'u#tr5. He

)or

#treet %ro" 3a Corua9# "o#t !"portant 'epart"ent #tore> *e

)oul' be,o"e reno)ne' %or ,*oo#!n$ t*e be#t lo,at!on# %or

*!# outlet#. 4ara )a# #oon repute' %or #ell!n$ ual!t5 'e#!$ner

%a#*!on# at rea#onable pr!,e#.T*e %or"ula *a' been u#e'

#u,,e##%ull5 b5 2ap !n t*e Un!te' State# an' NeLt !n 2reat

Br!ta!n but )a# ent!rel5 ne) !n Spa!n> t*e lar$e Corte In$l#

an' CorteAel *a' ,ontrolle' t*e "!'ran$e ,lot*!n$ "ar


18/27

Businessatyourside

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1.0

.

01

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BUSINESSINSIDE

T*e In'!teL "o'el ,a"e to be tau$*t !n "an5 bu#!ne##

#,*ool#+ repla,!n$ t*e "o'el t*at *a' ,alle' %or ,o"pleL $lobal

net)or


19/27

BUSINESSINSIDE

. /ar%ets, ealsM!opsEQUITIES 24.03 % 25.03 % 26.03 % 29.03 % 30.03 % CGR

Euro Stox 50 1167,72 -0,55 %1165,73 -0,17 %1166,59 0,07 % 1173,220,57 % 1173,27 0,00 % 0,12 %

S&P 500 6219,86 -0,66 %6218,99 -0,01 %6211,61-0,12 %6234,73 0,37 % 6251,47 0,27 % 0,13 %

NASDAQ5000 10836,15-0,48 %10841,210,05 %10850,360,08 %10895,860,42 %10907,420,11 % 0,16 %

Dow Jones 2903,94 -0,23 %2948,09 1,52 % 2940,94-0,24 %2947,490,22 % 2939,68 -0,26 % 0,31 %

FTSE 100 5677,88 0,07 % 5727,65 0,88 % 5703,02-0,43 %5710,660,13 % 5672,32 -0,67 %-0,02 %

XERTA DAX 6039,00 0,36 % 6132,95 1,56 % 6120,05-0,21 %6156,850,60 % 6142,45 -0,23 % 0,43 %

CAC 40 3949,81 -0,07 %4000,48 1,28 % 3988,93-0,29 %4000,660,29 % 3987,41 -0,33 % 0,24 %

BEL20 2649,70 0,01 % 2672,10 0,85 % 2656,93-0,57 %2665,400,32 % 2656,12 -0,35 % 0,06 %

RTS 1515,28 -0,96 %1507,36 -0,52 %1518,83 0,76 % 1553,642,29 % 1562,64 0,58 % 0,77 %

UX 2368,41 -0,34 %2326,33 -1,78 %2305,26-0,91 %2330,91 1,11 % 2377,29 1,99 % 0,09 %

BET 5883,40 -1,67 %5998,66 1,96 % 6008,100,16 % 5932,91-1,25 %5987,17 0,91 % 0,44 %

Nikkei 225 10815,030,38 %10828,850,13 %10996,371,55 %10986,47-0,09 %11097,141,01 % 0,65 %

TOPIX 951,97 0,49 % 952,13 0,02 % 966,72 1,53 % 966,13 -0,06 % 979,58 1,39 % 0,72 %

Hang Seng 21008,620,10 %20778,55-1,10 %21053,111,32 %21237,430,88 %21374,790,65 % 0,43 %

Shanghai A 3205,15 0,12 % 3165,61 -1,23 %3208,22 1,35 % 3275,552,10 % 3280,45 0,15 % 0,58 %

BSE Sens 17558,85 17644,760,49 %17711,350,38 %17590,17-0,68 %

FT.COM, Reuters

MAJORCOMMODITIES

WTI Crude Oil May$Brent Crude Oil May$

24.03

81,91

79,62

%

0,00%

-1,34%

25.03

80,53

79,61

%

-1,68%

-0,01%

26.03

80,00

79,29

%

-0,66%

-0,40%

29.03

82,17

81,17

%

2,71%

2,37%

30.03

82,38

81,28

%

0,26%

0,14%

CGR

0,14%

0,52%

Gold$ 1103,150,05%1087,50-1,42%1100,251,17% 1106,600,58% 1109,200,23% 0,14%

Silver$ 1668,00-0,60%1679,000,66% 1685,000,36% 1715,001,78% 1741,001,52% 1,08%

NYMEX, London Metal Exchange

CURRENCIES 24.03 % 25.03 % 26.03 % 29.03 % 30.03 % CGR


20/27

$ per]

$ per

]per

per $

MDL per $

MDL per]

1,34

1,49

1,12

91,90

12,45

16,79

-1,33 %

-1,06 %

0,36 %

1,77 %

-0,03 %

-0,18 %

1,33

1,49

1,12

92,70

12,44

16,62

-0,07 %

-0,20 %

-0,18 %

0,87 %

-0,08 %

-1,02 %

1,34

1,49

1,11

92,60

12,43

16,60

0,45 %

0,20 %

-0,27 %

-0,11 %

-0,11 %

-0,09 %

1,35

1,50

1,11

92,70

12,42

16,64

0,52 %

0,47 %

0,00 %

0,11 %

-0,05 %

0,19 %

1,34

1,51

1,13

93,00

12,42

16,73

-0,37 %

0,87 %

1,17 %

0,32 %

-0,06 %

0,56 %

0,13 %

0,33 %

0,18 %

0,30 %

-0,07 %

-0,09 %

FT.COM, Reuters

INTERESTRATES

Euro Libor 3m

Fed funds Eff

US 3m Bills

24.03

0,58

0,17

0,14

+/-

0

-0,01

0

25.03

0,58

0,17

0,14

+/-

0

0

0

26.03

0,58

0,17

0,14

+/-

0

0

0

29.03

0,58

0,17

0,14

+/-

0

0

0

30.03

0,58

0,16

0,16

+/-

0

-0,01

0,02

CGR

0,00%

-1,50%

3,39%


21/27

1.0.01

0

Business

atyoursideBUSINESSIN

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FT.COM, Reuters

I##ue Nr. 0@!

Thought of the weekNo

! ! !man should be in public office who can't make more money in private

life.! ! ! ! ! ! ! ! Thomas.E..Dewey

1=


22/27

BUSINESSINSIDE

WORLD M&ATOP ANNOUNCED

TARGET

BS Japan Corp

FNX Mining Co Inc

Bangkok Mass Transit System PCL

Siam Rail Transport and Infrastructure LTD

Hyprop Investments Ltd

Elf Aquitaine SA

Sagentia Group PLC

Techwell Inc

Brett Resources Inc

CERTO Corp

ACQUIRER

TV Tokyo Corp

Quadra Mining Ltd

Tanayong PCL

Tanayong PCL

Redefine Properties Ltd

Total SA

Intersil Corp

Osisko Mining Corp

AEON DELIGHT CO LTD

VALUE (mm)

$ 5 050,10

$ 1 515,80

$ 869,00

$ 689,50

$ 621,30

$ 604,80

$ 375,60

$ 370,00

$ 307,40

$ 175,80

Reuters (from 21.03.10 to 27.03.10)

WORLD M&ATOP CLOSED

TARGET

Genesis Lease Ltd

Gamma Capital Fund

Nusasiri Grand PCL and K M P Property Co

Ltd

KPN BELGIUM BUSINESS NV

2nd STREET Co Ltd

CREDIT ORGANIZATION OF SMALL AND

MEDIUM-SIZED ENTERPRISES CO LTD

Landis Energy Corp

Simsen International Corporation Ltd

Apoquindo Minerals Inc

Avaplas Ltd

ACQUIRER

Aercap Holdings NV

Kiatnakin Bank PCL

Thai Durable Group PCL

Mobistar SA

GEO CORP

IFS Partners Fund No.1 Investment Partnership

AltaGas Income Trust

Super Century Investments Ltd

Resource Capital Fund V LP

Cal-Comp Electronics (Thailand) PCL

VALUE (mm)

$ 385,40

$ 130,30

$ 123,00

$ 86,30

$ 35,20

$ 25,80

$ 19,00

$ 16,80

$ 10,10

$ 9,40


23/27

31.03.2010

BusinessatyoursideBUSINESS

INSIDE

Reuters (from 21.03.10 to 27.03.10)

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life.! ! ! ! ! ! ! ! Thomas.E..Dewey

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24/27

BUSINESSINSIDE

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25/27

31.03.2010

Business

atyourside

BUSINESS

INSIDE

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26/27

BUSINESSINSIDE

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EDITORI3 TE&


27/27

Revista Business Inside

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