Emerging Markets
RBS Led Dubai World Lenders, HSBC Has Most at Stake in UAE, JPMorgan Says Royal Bank of Scotland Group Plc was
the biggest underwriter of loans to Dubai World, the state
company seeking to reschedule debt, while HSBC Holdings Plc has
the most at risk in the United Arab Emirates, according to
JPMorgan Chase & Co.
Mobius Says Dubai Debt Concern May Trigger Emerging-Markets `Correction' Templeton Asset Management Ltd.’s
Mark Mobius said Dubai’s attempt to reschedule debt may cause a
“correction” in emerging markets, compounded by Vietnam’s
currency devaluation and an “avalanche” of initial share sales.
Mexico's Peso Heads for Weekly Gain on Outlook Decision by Fitch Ratings Mexico’s peso headed for a weekly
gain as Fitch Ratings’s decision to shift the country’s outlook
to stable damped speculation there will be more downgrades.
KazakhGold May Have `Event of Default' on $200 Million of Notes Due 2013 KazakhGold Group Ltd. said there may
have been an “event of default” on $200 million of its notes
due in 2013 after its controlling shareholder, Russia’s OAO
Polyus Gold, didn’t approve the company’s financial statements
for the first six months of this year.
Emerging Market Currencies, Stocks Slump as Dubai Dulls Allure of Yields Developing-nations’ stocks dropped
the most in a month and currencies weakened as Dubai’s attempt
to reschedule its debt drove investors away from higher-yielding
assets and commodities retreated.
Vietnam Stocks Rise, Pare Worst Weekly Drop in 11 Months Amid Devaluation Vietnam’s stocks rose, paring the
biggest weekly slump in 11 months. Joint-Stock Bank for Foreign
Trade of Vietnam led gains by lenders on speculation higher
interest rates will boost their earnings.
Bovespa Stock-Index Futures Decline on Dubai Debt Concern; Real Retreats Brazilian stock-index futures sank,
indicating the gauge may extend its biggest drop in two weeks,
after Dubai’s attempt to delay debt repayments spurred investors
to sell the highest-yielding assets.
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