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	<title>Stock Market News &#38; Stocks to Watch from StraightStocks &#187; Frontier Markets</title>
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		<title>GCC insurers lustfully eye robust takaful market, new underwriting standards</title>
		<link>http://www.straightstocks.com/investing-lessons/gcc-insurers-lustfully-eye-robust-takaful-market-new-underwriting-standards/</link>
		<comments>http://www.straightstocks.com/investing-lessons/gcc-insurers-lustfully-eye-robust-takaful-market-new-underwriting-standards/#comments</comments>
		<pubDate>Wed, 25 Nov 2009 04:39:17 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[A.T. Kearney]]></category>
		<category><![CDATA[A.T. Kearney Middle East]]></category>
		<category><![CDATA[conventional insurance;]]></category>
		<category><![CDATA[Cyril Garbois]]></category>
		<category><![CDATA[Ernst & Young]]></category>
		<category><![CDATA[Insurance]]></category>
		<category><![CDATA[insurance law]]></category>
		<category><![CDATA[insurance market]]></category>
		<category><![CDATA[Insurance Markets]]></category>
		<category><![CDATA[Insurance stocks]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kuwait]]></category>
		<category><![CDATA[Malaysia]]></category>
		<category><![CDATA[Principal]]></category>
		<category><![CDATA[proposed law]]></category>
		<category><![CDATA[UAE]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1037</guid>
		<description><![CDATA[GCC insurance markets are still underdeveloped despite the relatively recent rise of takaful, a type of Islamic insurance wherein members contribute money into a pooling system in order to guarantee each other against loss or damage.  Conventional insurance is incompatible with Islamic law because of Sharia’s prohibitions on transactions inherently founded on uncertainty/elements of luck.  Moreover, conventional insurers [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1037&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/gcc-insurers-lustfully-eye-robust-takaful-market-new-underwriting-standards/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Algeria takes big leap backwards</title>
		<link>http://www.straightstocks.com/investing-lessons/algeria-takes-big-leap-backwards/</link>
		<comments>http://www.straightstocks.com/investing-lessons/algeria-takes-big-leap-backwards/#comments</comments>
		<pubDate>Tue, 24 Nov 2009 16:14:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Algeria]]></category>
		<category><![CDATA[ALGIERS;]]></category>
		<category><![CDATA[Bnp Paribas]]></category>
		<category><![CDATA[Djezzy]]></category>
		<category><![CDATA[foreign groups]]></category>
		<category><![CDATA[Orascom;]]></category>
		<category><![CDATA[Peugeot]]></category>
		<category><![CDATA[Renault]]></category>
		<category><![CDATA[SociéTé GéNéRale]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8847420290273590882</guid>
		<description><![CDATA[Algeria has created an investment fund to nationalize subsidiaries of foreign groups who would decide to leave the country. Fifteen years after having liberalized its economy, Algeria is taking a step backwards.  Algeria has stiffened conditions for foreign investment and for transfer of capitals, and appears ready to nationalize certain foreign companies. The Egyptian group Orascom, whose Algerian subsidiary Djezzy, has been targeted.  Algiers notified Orascom of a tax adjustment of nearly USD600 million for the years 2005, 2006 and 2007. The Egyptian group is accused of having transferred hundreds of millions of dollars in dividends.br /br /Besides Orascom, other foreign groups, particularly French ones, could be affected by partial or total nationalization moves, such as French banks Société Générale and BNP Paribas as well as Renault and Peugeot.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8847420290273590882?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Maturing debt markets anchor emerging economies’ resilience, V-shaped recovery</title>
		<link>http://www.straightstocks.com/investing-lessons/maturing-debt-markets-anchor-emerging-economies%e2%80%99-resilience-v-shaped-recovery/</link>
		<comments>http://www.straightstocks.com/investing-lessons/maturing-debt-markets-anchor-emerging-economies%e2%80%99-resilience-v-shaped-recovery/#comments</comments>
		<pubDate>Fri, 20 Nov 2009 03:24:23 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Absa Capital]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Antoine van Agtmael]]></category>
		<category><![CDATA[Antoinette Sayeh]]></category>
		<category><![CDATA[Argentina]]></category>
		<category><![CDATA[bank supervisors]]></category>
		<category><![CDATA[Basel]]></category>
		<category><![CDATA[Botswana]]></category>
		<category><![CDATA[capital raising solutions]]></category>
		<category><![CDATA[central Asia]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[chairman and CIO]]></category>
		<category><![CDATA[CIO]]></category>
		<category><![CDATA[Daniel Broby]]></category>
		<category><![CDATA[Development Bank]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[Ecuador]]></category>
		<category><![CDATA[Emerging Markets Management LLC]]></category>
		<category><![CDATA[Global Quantitative Management]]></category>
		<category><![CDATA[Globalizing Financial Systems]]></category>
		<category><![CDATA[Gross national product]]></category>
		<category><![CDATA[Hashemite University in Jordan]]></category>
		<category><![CDATA[head]]></category>
		<category><![CDATA[Head of African Research]]></category>
		<category><![CDATA[insurance industries]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[investment banking group]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Jason Toussaint]]></category>
		<category><![CDATA[Jordan]]></category>
		<category><![CDATA[Jpmorgan]]></category>
		<category><![CDATA[Kenya]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Mohamed Bahaa]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Northern Trust]]></category>
		<category><![CDATA[observer]]></category>
		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Per Daniel Broby]]></category>
		<category><![CDATA[Philip Turner]]></category>
		<category><![CDATA[Razia Khan]]></category>
		<category><![CDATA[secretariat group]]></category>
		<category><![CDATA[senior investment strategist]]></category>
		<category><![CDATA[Silk Invest]]></category>
		<category><![CDATA[Standard Chartered Bank Group]]></category>
		<category><![CDATA[Stephen van Coller]]></category>
		<category><![CDATA[sub-Saharan Africa]]></category>
		<category><![CDATA[Tanzania]]></category>
		<category><![CDATA[then-BIS head of the secretariat group]]></category>
		<category><![CDATA[Ukraine]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1033</guid>
		<description><![CDATA[The following appeared in the November issue of Business Diary Botswana:
Despite the IMF&#8217;s recent projection that Botswana’s economy will contract 10.3% this year, the lender expects a 4.1% uptick next year such that emergency funding would not be required.  Back in June the country tapped a $1.5bn &#8220;budget support loan&#8221; from the African Development [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1033&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Abyaar net profit surge could spur sukuk</title>
		<link>http://www.straightstocks.com/investing-lessons/abyaar-net-profit-surge-could-spur-sukuk/</link>
		<comments>http://www.straightstocks.com/investing-lessons/abyaar-net-profit-surge-could-spur-sukuk/#comments</comments>
		<pubDate>Sun, 15 Nov 2009 15:42:06 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Abyaar Real Estate Development Company]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[Hesham Abdul Wahab Al Obeid]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kuwait]]></category>
		<category><![CDATA[Managing Director]]></category>
		<category><![CDATA[Qatar]]></category>
		<category><![CDATA[Rashed Al-Rashdan]]></category>
		<category><![CDATA[Saudi Arabia]]></category>
		<category><![CDATA[UAE]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1030</guid>
		<description><![CDATA[Kuwait-based Abyaar Real Estate Development Company (Abyaar), which develops and manages properties in the UAE and in Dubai in particular, recently announced a net profit for the first nine months of 2009 of KD5 million ($17.5 million) and an EPS of 6.90 fils (a subdivision of currency used in many Arab countries, where KD1 roughly [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1030&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/abyaar-net-profit-surge-could-spur-sukuk/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Growth, inflation creeping up as Egyptian equities shine</title>
		<link>http://www.straightstocks.com/investing-lessons/growth-inflation-creeping-up-as-egyptian-equities-shine/</link>
		<comments>http://www.straightstocks.com/investing-lessons/growth-inflation-creeping-up-as-egyptian-equities-shine/#comments</comments>
		<pubDate>Fri, 13 Nov 2009 17:58:10 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1027</guid>
		<description><![CDATA[Credit Suisse, for one, is maintaining an &#8220;overweight&#8221; rating on Egyptian equities in light of the country&#8217;s robust GDP growth&#8211;the strongest in 2009-10 GDP in the mainstream Europe, Middle East and African (EMEA) region&#8211;as well as its &#8220;solid external position and low currency risk.&#8221;  In particular, the investment bank views Egypt as a &#8220;manufacturing [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1027&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/growth-inflation-creeping-up-as-egyptian-equities-shine/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Shortage of currency in Malawi</title>
		<link>http://www.straightstocks.com/investing-lessons/shortage-of-currency-in-malawi/</link>
		<comments>http://www.straightstocks.com/investing-lessons/shortage-of-currency-in-malawi/#comments</comments>
		<pubDate>Fri, 13 Nov 2009 09:47:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-9148450018240027279</guid>
		<description><![CDATA[A shortage of foreign currency in Malawi is beginning to undermine the fixedexchange rate policy that has been in place for more than two years.The kwacha has weakened slightly against the dollar. On the black market, the currency is trading at 190.br /br /The shortage of foreign currency means Telekom Networks Malawi, the country’s second largest mobile phone operator, has halted expansion of its network because it was unable to import equipment.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-9148450018240027279?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Oil in Kenya?</title>
		<link>http://www.straightstocks.com/investing-lessons/oil-in-kenya/</link>
		<comments>http://www.straightstocks.com/investing-lessons/oil-in-kenya/#comments</comments>
		<pubDate>Tue, 10 Nov 2009 14:11:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-4084969811259569867</guid>
		<description><![CDATA[Now they are even exploring for oil in Kenya.  Africa Oil Corp's Bogal-1 oil exploration well operated by China owned CNOOC spudded on October 28, 2009. The well is expected to reach total depth of 5,500 meters within approximately 6 months.br /br /Block 9 covers an area of 27,778 square kilometers in the centre of the Anza Basin. The Anza Basin is a NW-SE trending rift basin along trend with the prolific Mesozoic play of southern Sudan. The basin is over 580 kilometers long and 150 kilometers wide with a potential prospective area in excess of 50,000 square kilometers. Experts believe they may have proven the existence of natural gas and possibly oil.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-4084969811259569867?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>As urea goes, so does QAFCO, Industries Qatar</title>
		<link>http://www.straightstocks.com/investing-lessons/as-urea-goes-so-does-qafco-industries-qatar/</link>
		<comments>http://www.straightstocks.com/investing-lessons/as-urea-goes-so-does-qafco-industries-qatar/#comments</comments>
		<pubDate>Sat, 07 Nov 2009 22:04:38 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Abdulla Salatt]]></category>
		<category><![CDATA[Analyst]]></category>
		<category><![CDATA[Brazil]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[EFG-Hermes]]></category>
		<category><![CDATA[going forward]]></category>
		<category><![CDATA[Hala Fares]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Natural Gas]]></category>
		<category><![CDATA[natural gas reserves]]></category>
		<category><![CDATA[natural gas sector]]></category>
		<category><![CDATA[oil revenue]]></category>
		<category><![CDATA[Qatar]]></category>
		<category><![CDATA[Shuaa Capital]]></category>
		<category><![CDATA[South America]]></category>
		<category><![CDATA[Sowaidi]]></category>
		<category><![CDATA[steel]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1025</guid>
		<description><![CDATA[According to Abdulla Salatt, chairman of the company&#8217;s fertilizer unit (QAFCO), Industries Qatar&#8211;the country&#8217;s largest firm by market cap&#8211;will increase production of urea (used as a nitrogen-release fertilizer) and related products to supply growing global demand with a specific focus on South America, and in particular, Brazil.  &#8220;We are thinking of sending more products to [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1025&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Angola to open up new oil exporation</title>
		<link>http://www.straightstocks.com/investing-lessons/angola-to-open-up-new-oil-exporation/</link>
		<comments>http://www.straightstocks.com/investing-lessons/angola-to-open-up-new-oil-exporation/#comments</comments>
		<pubDate>Wed, 04 Nov 2009 10:32:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-512592349694270675</guid>
		<description><![CDATA[Angola plans to start exploring for onshore oil in the enclave of Cabinda sometime next month, according to state-owned oil company Sonangol. Sonangol will first carry out seismic studies in the regions of Necuto and Buco Zau to determine the existence of oil. Sonangol recently partnered with Esso to study the possibility of exploring for oil in the basin of River Kwanza, where studies had shown the existence of about 6mn barrels of oil. Earlier in the year, Sonangol said it was considering exploration in the Cassanje and Okavango river basins. Prior to the Angolan civil war, which began in 1975, Angola pumped around 80,000 bpd from the Kwanza river basin, but the war ultimately forced a halt in production.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-512592349694270675?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Angola to</title>
		<link>http://www.straightstocks.com/investing-lessons/angola-to/</link>
		<comments>http://www.straightstocks.com/investing-lessons/angola-to/#comments</comments>
		<pubDate>Wed, 04 Nov 2009 10:32:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8419825274210719535</guid>
		<description><![CDATA[Angola plans to start exploring for onshore oil in the enclave of Cabinda sometime next month, according to state-owned oil company Sonangol. Sonangol will first carry out seismic studies in the regions of Necuto and Buco Zau to determine the existence of oil. Sonangol recently partnered with Esso to study the possibility of exploring for oil in the basin of River Kwanza, where studies had shown the existence of about 6mn barrels of oil. Earlier in the year, Sonangol said it was considering exploration in the Cassanje and Okavango river basins. Prior to the Angolan civil war, which began in 1975, Angola pumped around 80,000 bpd from the Kwanza river basin, but the war ultimately forced a halt in production.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8419825274210719535?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Competition, yield dilution may hamper Air Arabia in 2010</title>
		<link>http://www.straightstocks.com/investing-lessons/competition-yield-dilution-may-hamper-air-arabia-in-2010/</link>
		<comments>http://www.straightstocks.com/investing-lessons/competition-yield-dilution-may-hamper-air-arabia-in-2010/#comments</comments>
		<pubDate>Sun, 01 Nov 2009 16:03:15 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Abdullah Bin Mohammed Al Thani]]></category>
		<category><![CDATA[Adel Ali]]></category>
		<category><![CDATA[AED;]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Air Arabia]]></category>
		<category><![CDATA[Airline]]></category>
		<category><![CDATA[Airline Industry]]></category>
		<category><![CDATA[budget carrier]]></category>
		<category><![CDATA[budget travel]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Hospitality Group]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kuwait’s Jazeera Airways]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Reuters]]></category>
		<category><![CDATA[Travco Group]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1023</guid>
		<description><![CDATA[UAE-based budget carrier Air Arabia, the Arab world&#8217;s largest listed carrier, announced its intentions to build a new hub in Egypt that would offer connections to Europe, Africa and the Middle East, one month after formalizing a partnership with Egypt’s Travco Group, the Middle East’s largest travel and hospitality group.  “At a time when the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1023&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/competition-yield-dilution-may-hamper-air-arabia-in-2010/feed/</wfw:commentRss>
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		<title>“New Normal” for Dubai means back to borrowing?</title>
		<link>http://www.straightstocks.com/investing-lessons/%e2%80%9cnew-normal%e2%80%9d-for-dubai-means-back-to-borrowing/</link>
		<comments>http://www.straightstocks.com/investing-lessons/%e2%80%9cnew-normal%e2%80%9d-for-dubai-means-back-to-borrowing/#comments</comments>
		<pubDate>Fri, 30 Oct 2009 16:28:11 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Abu Dhabi]]></category>
		<category><![CDATA[Analyst]]></category>
		<category><![CDATA[bloomberg]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[Dubai’s government]]></category>
		<category><![CDATA[Economist]]></category>
		<category><![CDATA[Emirates Interbank]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Oil Prices]]></category>
		<category><![CDATA[Singapore]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1020</guid>
		<description><![CDATA[Dubai&#8217;s government returned to the open bond market upon a growing sense that the notoriously &#8216;profligate&#8217; emirate&#8211;as at least one analyst has previously criticized it in comparison to its more steady, oil-fueled sibling Abu Dhabi&#8211;can be trusted not to default on its $80bn or so of outstanding debt.  On the heels of last week&#8217;s [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1020&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Alcantra CIS paper fund launched amidst shaky environment</title>
		<link>http://www.straightstocks.com/investing-lessons/alcantra-cis-paper-fund-launched-amidst-shaky-environment/</link>
		<comments>http://www.straightstocks.com/investing-lessons/alcantra-cis-paper-fund-launched-amidst-shaky-environment/#comments</comments>
		<pubDate>Wed, 28 Oct 2009 12:56:50 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1015</guid>
		<description><![CDATA[Euromoney reports the launch of London-based Alcantara Asset Management&#8217;s Russia and CIS Fixed Income Opportunities Fund, which will reportedly focus on relative value and long-only opportunities in the fixed income markets in Russia, Ukraine and Kazakhstan, and which will be lead by the firm&#8217;s founders, former JPMorganers Sergey Grechishkin and Andrei Taskin.  &#8220;Relative value&#8221;, a [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1015&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/alcantra-cis-paper-fund-launched-amidst-shaky-environment/feed/</wfw:commentRss>
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		<title>Frontier markets update</title>
		<link>http://www.straightstocks.com/investing-lessons/frontier-markets-update/</link>
		<comments>http://www.straightstocks.com/investing-lessons/frontier-markets-update/#comments</comments>
		<pubDate>Wed, 28 Oct 2009 10:20:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-837458134324030207</guid>
		<description><![CDATA[The MSCI World Index of advanced -nation equities has surged 65% from this year's low on March 9, while the MSCI Emerging Markets Index has leaped 96%. The Reuters/Jefferies CRB Index of 19 commodities has added 33%. br /br /Emerging markets have outperformed and have seen massive amounts of inflow. But when your main stream markets like Brazil (Bovespa +68%), China (Shangahai +64%), Russia (RTS +83%), South Africa ( Top 40 +24%), start to mature and look top heavy, investors will start looking towards 2nd tier and 3rd tier frontier markets that have been on the back burner. These frontier markets such as Ghana ( GSE -46%), Nigeria (NSE All Share -30%), Kenya (NSE -14%), Morocco (Madex -3.3%), should attract some fund interest and more inflow.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-837458134324030207?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/frontier-markets-update/feed/</wfw:commentRss>
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		<title>MyStockVoice.com</title>
		<link>http://www.straightstocks.com/investing-lessons/mystockvoice-com/</link>
		<comments>http://www.straightstocks.com/investing-lessons/mystockvoice-com/#comments</comments>
		<pubDate>Thu, 22 Oct 2009 00:10:06 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Paul Harper]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1013</guid>
		<description><![CDATA[There is loads of great information and commentary on the entire gamut of emerging and frontier markets over at MyStockVoice.com, headed by a Facebook connection of mine, Paul Harper, whose knowledge of emerging telecoms in particular is probably second to none.
       <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1013&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>“Virgin” Libya on the cusp of massive tax reform-fueled FDI</title>
		<link>http://www.straightstocks.com/investing-lessons/%e2%80%9cvirgin%e2%80%9d-libya-on-the-cusp-of-massive-tax-reform-fueled-fdi/</link>
		<comments>http://www.straightstocks.com/investing-lessons/%e2%80%9cvirgin%e2%80%9d-libya-on-the-cusp-of-massive-tax-reform-fueled-fdi/#comments</comments>
		<pubDate>Wed, 21 Oct 2009 16:29:56 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[construction services]]></category>
		<category><![CDATA[development agency;]]></category>
		<category><![CDATA[Economic & Social Development Fund]]></category>
		<category><![CDATA[Economic Development Board]]></category>
		<category><![CDATA[energy]]></category>
		<category><![CDATA[energy cities]]></category>
		<category><![CDATA[energy hubs]]></category>
		<category><![CDATA[Fluor Corporation]]></category>
		<category><![CDATA[Gulf of Sitre]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Libya]]></category>
		<category><![CDATA[Marsa el-Brega]]></category>
		<category><![CDATA[Noc]]></category>
		<category><![CDATA[Oil And Gas]]></category>
		<category><![CDATA[oil-rich industrial cities]]></category>
		<category><![CDATA[produce plastics]]></category>
		<category><![CDATA[Ras Lanuf]]></category>
		<category><![CDATA[Tripoli;]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1011</guid>
		<description><![CDATA[Interesting piece from MEED vis a vis Tripoli&#8217;s $54bn, 20-year commitment to develop joint ventures with multinational firms in order to transform the Gulf of Sitre&#8211;and namely the oil-rich industrial cities of Marsa el-Brega and Ras Lanuf&#8211;into energy hubs founded on oil and gas processing and distribution, as well as into a resort destination.  The two cities lack [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#038;blog=3702668&#038;post=1011&#038;subd=frontiermarkets&#038;ref=&#038;feed=1" />]]></description>
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		<title>Bright future for Orascom Construction?</title>
		<link>http://www.straightstocks.com/investing-lessons/bright-future-for-orascom-construction/</link>
		<comments>http://www.straightstocks.com/investing-lessons/bright-future-for-orascom-construction/#comments</comments>
		<pubDate>Sun, 18 Oct 2009 03:02:40 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1007</guid>
		<description><![CDATA[In upgrading Orascom Construction Industry (OCI)&#8211;Egypt&#8217;s largest listed builder and also the country&#8217;s biggest producer of nitrogen fertilizers&#8211;local investment bank CI Capital noted that the firm&#8217;s net EBITDA is largely a function of fertilizer prices, which most analysts expect to rise up to a further 40% in 2010.  &#8220;We believe OCI&#8217;s 2010 fertilizer margins [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1007&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>KIPCO bond another step for region’s still nascent paper market</title>
		<link>http://www.straightstocks.com/investing-lessons/kipco-bond-another-step-for-region%e2%80%99s-still-nascent-paper-market/</link>
		<comments>http://www.straightstocks.com/investing-lessons/kipco-bond-another-step-for-region%e2%80%99s-still-nascent-paper-market/#comments</comments>
		<pubDate>Sat, 10 Oct 2009 20:41:13 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1005</guid>
		<description><![CDATA[Investment firm Kuwait Projects Co.&#8217;s (KIPCO) seven-year, $500 million benchmark bond&#8211;which featured a fixed 8.875% rate and were priced at a spread of 608 bps above the USD mid-swap curve, fetched orders in excess of $3.3 billion this past week, signaling further maturation of the Gulf&#8217;s debt markets.   The bond was not only the first [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1005&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>If Oman’s the ‘odd one out,’ then Bank Muscat is ‘in’</title>
		<link>http://www.straightstocks.com/investing-lessons/if-oman%e2%80%99s-the-%e2%80%98odd-one-out%e2%80%99-then-bank-muscat-is-%e2%80%98in%e2%80%99/</link>
		<comments>http://www.straightstocks.com/investing-lessons/if-oman%e2%80%99s-the-%e2%80%98odd-one-out%e2%80%99-then-bank-muscat-is-%e2%80%98in%e2%80%99/#comments</comments>
		<pubDate>Fri, 09 Oct 2009 17:40:31 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1003</guid>
		<description><![CDATA[A recent FT piece quoted Bank of America Merrill Lynch analysts who estimate that Oman&#8217;s real economic growth rate will &#8220;continue to be relatively healthy, at 4% this year and 5.4% in 2010.&#8221;  And while down from an estimated 6.2% growth of last year, the bank concluded that &#8220;in the region this [growth] will be [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1003&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Ukraine &#8211; over the worst</title>
		<link>http://www.straightstocks.com/investing-lessons/ukraine-over-the-worst/</link>
		<comments>http://www.straightstocks.com/investing-lessons/ukraine-over-the-worst/#comments</comments>
		<pubDate>Fri, 09 Oct 2009 13:59:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-1483521044625291710</guid>
		<description><![CDATA[Ukraine's economy is now recovering from a very low bottom, and real economic growth is likely by November. Ukraine's international reserves are at around $29 billion, one quarter of GDP. Ukraine runs no risk of default for the next year, even without IMF money. Its budget deficit is below the limit of 6% of GDP for this year. The bank country's restructuring is proceeding.  br /br /The only concern is that without a November IMF disbursement, financing the deficit will present a challenge. br /br /Ukraine is approaching presidential elections. The two dominant presidential candidates are Yanukovych and Tymoshenko, while the voters have given up on the erratic Yushchenko, who regularly vetoes almost all government decisions even when they correspond to his own policies. The conventional wisdom is that Yanukovych will win the first round with a large but not absolute majority, while Tymoshenko is best placed to win the second round.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-1483521044625291710?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Wednesday Roundup</title>
		<link>http://www.straightstocks.com/investing-lessons/wednesday-roundup/</link>
		<comments>http://www.straightstocks.com/investing-lessons/wednesday-roundup/#comments</comments>
		<pubDate>Wed, 07 Oct 2009 12:18:00 +0000</pubDate>
		<dc:creator>Roger Nusbaum</dc:creator>
				<category><![CDATA[Iceland]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[Market Commentary]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-8532070.post-2311747943676075752</guid>
		<description><![CDATA[A few things from yesterday worth mentioning this morning.br /br /Jeremy Siegel had a a href="http://www.ft.com/cms/s/0/b788547c-b1bc-11de-a271-00144feab49a.html?nclick_check=1"commentary run in the FT/a re-making a case for equities for the long run. I don't disagree in the biggest picture sense but I am not as sanguine on the fate of domestic stocks versus foreign. The dynamic of many other countries gaining on the US as the US tries to hold on simply makes those other countries more compelling.br /br /span class="fullpost"He correctly, IMO, goes after Robert Arnott's comments from the spring about bonds outperformance noting that for that brief moment when stocks were at their low bonds did out perform but that cherry picking a point in time like that did not make a lot of sense. I a href="http://randomroger.blogspot.com/2009/03/ft-to-investors-fuggettaboutit.html"similarly picked on/a the Arnott article when it first ran.br /br /I think Siegel misses on a couple of points however. He notes that the Samp;P 500 is now trading at 14 times 2010 earnings estimates which is cheap compared to the 18-20 time he cites for other periods of low inflation and low interest rates without specifics of when that was or attribution.br /br /Regardless of whether US equities are the best performers over the next ten years or the worst an argument based on earnings estimates for 2010 and maybe 2011 is not exactly firm ground. The potential volatility in earnings and estimates in the next year or two make valuing the stock market, for people inclined to focus on that, particularly unreliable. Given the freakish speed with which estimates were cut early in the bear market combined with the potential shoes to drop that we know about makes for a weak argument. That is not to say that stock can't go up a lot making the bulls correct but PEs can he high and stocks go up anyway.br /br /He also makes the point that "every dollar of US international indebtedness is matched by a dollar of assets abroad. Samp;P 500 companies now obtain almost 50 per cent of their revenue outside the US and that share will most certainly rise as growth in the emerging nations continues to outpace that of the developed world."br /br /Frankly I think this argument ignores too many macro factors. He may be drawing the correct conclusion for all I know but in order for this point to be convincing now I think he needs to demonstrate that he understands the really big picture and do some refuting. I'm not saying he doesn't understand the macro, I'm saying he doesn't articulate it in this article.br /br /The next issue is that things are still a href="http://www.ft.com/cms/s/0/8a7d80ae-b1e6-11de-a271-00144feab49a.html?nclick_check=1"not looking good in Iceland/a. The citizens seem to not want to join the EU eventually adopting the euro. They feel they will lose control of their fishing industry which was one of the building blocks of their success. I've written several times that I think there is a way to harness their geothermal for more manufacturing similar to what Alcan has been doing for years there and also for data farms. There are obstacles to both but with a little ingenuity I think they could figure it out.br /br /One road to health would be to adopt the euro the eliminating the risk for foreign companies of doing business in ISK but losing control of the fishing industry clearly works against their interests. A horrible dilemma.br /br /Lastly in case you did not see the article from the Independent that caused all the hub bub yesterday about the dollar a href="http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html"here it is/a. It seemed to read strangely to me. Decide for yourself./spandiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/8532070-2311747943676075752?l=randomroger.blogspot.com'//div]]></description>
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		<title>Sukuk yields a function of liquidity, yet investors remain cautious</title>
		<link>http://www.straightstocks.com/investing-lessons/sukuk-yields-a-function-of-liquidity-yet-investors-remain-cautious/</link>
		<comments>http://www.straightstocks.com/investing-lessons/sukuk-yields-a-function-of-liquidity-yet-investors-remain-cautious/#comments</comments>
		<pubDate>Mon, 05 Oct 2009 20:34:28 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=1001</guid>
		<description><![CDATA[According to many analysts, global sukuk issuance may receive better pricing than other types of bonds given the relatively comfortable liquidity levels of Islamic institutions vis a vis their conventional counterparts.  For instance, the Abu Dhabi-based Tourism Development &#38; Investment Company (TDIC), whose inaugural $1bn conventional bond tranche under a$3bn Global Medium Term Note (GMTN) [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=1001&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Sri Lankan fund hopes to reflect island’s newfound peace, increasing prosperity</title>
		<link>http://www.straightstocks.com/investing-lessons/sri-lankan-fund-hopes-to-reflect-island%e2%80%99s-newfound-peace-increasing-prosperity/</link>
		<comments>http://www.straightstocks.com/investing-lessons/sri-lankan-fund-hopes-to-reflect-island%e2%80%99s-newfound-peace-increasing-prosperity/#comments</comments>
		<pubDate>Wed, 30 Sep 2009 17:51:57 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=998</guid>
		<description><![CDATA[Douglas Clayton&#8217;s Leopard Capital, which last year launched Cambodia’s first multi-sector investment fund, announced the launch of a Leopard Sri Lanka Fund LP for early 2010.   &#8220;After several decades of civil war, peace has finally returned to the beautiful island of Sri Lanka, and a new investment cycle and growth upswing has begun.  Leopard Sri Lanka [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=998&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Ivory Coast acts on defaulted debt</title>
		<link>http://www.straightstocks.com/investing-lessons/ivory-coast-acts-on-defaulted-debt/</link>
		<comments>http://www.straightstocks.com/investing-lessons/ivory-coast-acts-on-defaulted-debt/#comments</comments>
		<pubDate>Tue, 29 Sep 2009 08:50:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-3673022270987711034</guid>
		<description><![CDATA[The Ivory Coast has reached a deal to restructure Euro 2.2bn of defaulted sovereign debt with the London Club of commercial creditors. Holders of the six Brady bonds will be able to swap the debt for a new USD denominated bond maturing 31 December 2032. The exchange is scheduled to take place no later than 31 March 2010 and follows an agreement with the Paris Club of sovereign creditors earlier this year. br /br /The Ivory Coast is going to offer a discount of 20 percent on the exchangeable debt. There will be 34 semi-annual payments on the new bond, starting from 30 June 2016. Interest will begin to accrue from 31 December 2009. The outstanding debt consists of three Euro-denominated and three dollar-denominated bonds maturing in 2018 and 2028.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-3673022270987711034?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Possible Etisalat downgrade an indictment of Dubai, not cash flow</title>
		<link>http://www.straightstocks.com/investing-lessons/possible-etisalat-downgrade-an-indictment-of-dubai-not-cash-flow/</link>
		<comments>http://www.straightstocks.com/investing-lessons/possible-etisalat-downgrade-an-indictment-of-dubai-not-cash-flow/#comments</comments>
		<pubDate>Fri, 25 Sep 2009 02:07:46 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=993</guid>
		<description><![CDATA[Citing Dubai&#8217;s deteriorating credit worthiness&#8211;government debt is expected to reach some 40% of GDP by year&#8217;s end&#8211;Fitch placed the UAE&#8217;s largest telecoms firm, Etisalat, which is 60.03% owned by the UAE and is  the second-largest operator in the MENA region by market capitalization, on watch with a negative outlook.  The firm&#8217;s AA- credit [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=993&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Derivatives smooth returns, hedge weather risk among frontier producers</title>
		<link>http://www.straightstocks.com/investing-lessons/derivatives-smooth-returns-hedge-weather-risk-among-frontier-producers/</link>
		<comments>http://www.straightstocks.com/investing-lessons/derivatives-smooth-returns-hedge-weather-risk-among-frontier-producers/#comments</comments>
		<pubDate>Sat, 19 Sep 2009 03:39:04 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=991</guid>
		<description><![CDATA[From September&#8217;s Business Diary Botswana:
Derivatives market helps farmers weather storm and smooth returns  In &#8220;Fool&#8217;s Gold,&#8221; Financial Times global markets commentator Gillian Tett writes that &#8220;versions of derivatives trading have existed for centuries,&#8221; citing &#8220;rudimentary examples of futures and options contracts found on clay tablets from Mesopotamia dating back to 1750 B.C.&#8221;  And [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=991&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/derivatives-smooth-returns-hedge-weather-risk-among-frontier-producers/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Behavioral biases create both risk and opportunity in frontier markets</title>
		<link>http://www.straightstocks.com/investing-lessons/behavioral-biases-create-both-risk-and-opportunity-in-frontier-markets/</link>
		<comments>http://www.straightstocks.com/investing-lessons/behavioral-biases-create-both-risk-and-opportunity-in-frontier-markets/#comments</comments>
		<pubDate>Tue, 15 Sep 2009 05:32:37 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=989</guid>
		<description><![CDATA[As the once universally-sacred Efficient Market Hypothesis (EMH) continues to fester unceremoniously in economic purgatory post-crisis,  behavioral finance&#8211;which might tend to support the notion that short-term price action, far from being rational, is highly inefficient and emotional, continues to gain credence among economists and fund managers alike.  Speaking in 2005, Dr. John Porter of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=989&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/behavioral-biases-create-both-risk-and-opportunity-in-frontier-markets/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Cristalerias de Chile still an undervalued play on consumption growth</title>
		<link>http://www.straightstocks.com/investing-lessons/cristalerias-de-chile-still-an-undervalued-play-on-consumption-growth/</link>
		<comments>http://www.straightstocks.com/investing-lessons/cristalerias-de-chile-still-an-undervalued-play-on-consumption-growth/#comments</comments>
		<pubDate>Sun, 06 Sep 2009 03:10:35 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Chile]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=985</guid>
		<description><![CDATA[ Shares in Chilean glass products maker Cristalerias de Chile&#8211;which has a market capitalization of roughly $700 million and produces glass bottles and containers mainly for the food and beverage industry&#8211;rose 15% on Friday after the firm announced an agreement to sell its 20% stake in cable television operator VTR&#8211;the nation&#8217;s largest cable-television and broadband [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=985&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/cristalerias-de-chile-still-an-undervalued-play-on-consumption-growth/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>On the importance of domestic research in frontier investing</title>
		<link>http://www.straightstocks.com/investing-lessons/on-the-importance-of-domestic-research-in-frontier-investing/</link>
		<comments>http://www.straightstocks.com/investing-lessons/on-the-importance-of-domestic-research-in-frontier-investing/#comments</comments>
		<pubDate>Sun, 06 Sep 2009 02:17:46 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[jason g wulterkens]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=980</guid>
		<description><![CDATA[Wonderful piece in Euromoney regarding the dichotomy of opinion among international investors in the ME vis a vis the research capabilities of the region&#8217;s domestic investment banks and equity research houses, most of which have found themselves &#8220;struggling to meet their debt obligations.&#8221;  While many portfolio managers still swear by local expertise, others are [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=980&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/on-the-importance-of-domestic-research-in-frontier-investing/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>And the winner is…</title>
		<link>http://www.straightstocks.com/frontier-markets/and-the-winner-is%e2%80%a6/</link>
		<comments>http://www.straightstocks.com/frontier-markets/and-the-winner-is%e2%80%a6/#comments</comments>
		<pubDate>Sat, 05 Sep 2009 01:58:28 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[new york stock exchange]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=977</guid>
		<description><![CDATA[A reminder that winners for the 2009 Africa Investor Index Series Awards will be announced on September 21st at an invitation-only gala ceremony on the trading floor of the New York Stock Exchange.
       <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=977&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Delayed dollar depeg means Gulf economies will continue to over/undershoot</title>
		<link>http://www.straightstocks.com/frontier-markets/delayed-dollar-depeg-means-gulf-economies-will-continue-to-overundershoot/</link>
		<comments>http://www.straightstocks.com/frontier-markets/delayed-dollar-depeg-means-gulf-economies-will-continue-to-overundershoot/#comments</comments>
		<pubDate>Thu, 03 Sep 2009 15:31:13 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[cement;]]></category>
		<category><![CDATA[crude oil]]></category>
		<category><![CDATA[Food Prices]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kuwait]]></category>
		<category><![CDATA[Organization Of Petroleum Exporting Countries]]></category>
		<category><![CDATA[planned future regional central bank]]></category>
		<category><![CDATA[Qatar]]></category>
		<category><![CDATA[Riyadh]]></category>
		<category><![CDATA[Saudi Arabia]]></category>
		<category><![CDATA[Syria]]></category>
		<category><![CDATA[UAE]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[windfall oil profits]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=975</guid>
		<description><![CDATA[According to various reports, central bankers from Saudi Arabia&#8211;whose capital Riyadh is slated as the home of a planned future regional central bank&#8211;are increasingly pessimistic as to the odds of the once much bally-hooed 2010 transition to a single Gulf currency and monetary union across the six-member GCC.  This despite the fact that prices rose 10.5% in [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=975&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Outward looking NBAD named to top 50</title>
		<link>http://www.straightstocks.com/frontier-markets/outward-looking-nbad-named-to-top-50/</link>
		<comments>http://www.straightstocks.com/frontier-markets/outward-looking-nbad-named-to-top-50/#comments</comments>
		<pubDate>Sun, 30 Aug 2009 23:15:40 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Egypt]]></category>
		<category><![CDATA[government-owned bank;]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Libya]]></category>
		<category><![CDATA[National Bank of Abu Dhabi;]]></category>
		<category><![CDATA[North Africa]]></category>
		<category><![CDATA[principal financial institutions]]></category>
		<category><![CDATA[Sudan]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=973</guid>
		<description><![CDATA[Government-owned National Bank of Abu Dhabi (NBAD), the nation&#8217;s second-largest bank by assets and largest by market value, was ranked among the 50 safest banks in the world in 2009, per Global Finance. The annual ratings compare the long-term credit ratings and total assets of the 500 largest banks around the world.  This on the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=973&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Tea and sugar not just for cricket fans anymore</title>
		<link>http://www.straightstocks.com/commodities/tea-and-sugar-not-just-for-cricket-fans-anymore/</link>
		<comments>http://www.straightstocks.com/commodities/tea-and-sugar-not-just-for-cricket-fans-anymore/#comments</comments>
		<pubDate>Fri, 28 Aug 2009 02:24:51 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Brazil]]></category>
		<category><![CDATA[commodity trader;]]></category>
		<category><![CDATA[India]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kenya]]></category>
		<category><![CDATA[location]]></category>
		<category><![CDATA[producer]]></category>
		<category><![CDATA[Rift Valley;]]></category>
		<category><![CDATA[Sri Lanka]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=970</guid>
		<description><![CDATA[Instead, they&#8217;re also a commodity trader&#8217;s best friend.
FT laid out the case nicely on Thursday for why tea&#8211;which is already trading at an all-time high&#8211;may indeed have further to go:
&#8220;Traders now fear that the poor monsoon in India [one of the world's top exporters along with Kenya and Sri Lanka] and scanty rains in Kenya&#8217;s [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=970&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Should frontier debt garner greater institutional attention?</title>
		<link>http://www.straightstocks.com/market-commentary/should-frontier-debt-garner-greater-institutional-attention/</link>
		<comments>http://www.straightstocks.com/market-commentary/should-frontier-debt-garner-greater-institutional-attention/#comments</comments>
		<pubDate>Wed, 26 Aug 2009 03:16:59 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[CIO]]></category>
		<category><![CDATA[Daniel Broby]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[Director of Fixed Income]]></category>
		<category><![CDATA[Fixed Income]]></category>
		<category><![CDATA[Globalising Financial Systems]]></category>
		<category><![CDATA[Hashemite University in Jordan]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[John Bates]]></category>
		<category><![CDATA[Jordan]]></category>
		<category><![CDATA[Silk Invest]]></category>
		<category><![CDATA[Silk Invest  CIO]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=966</guid>
		<description><![CDATA[Regular readers need to accept my sincerest apologies&#8230;updates for the next week will be rather itinerant due to a taxing MBA orientation schedule.
In the meantime, I&#8217;d like to mention that Silk Invest CIO Daniel Broby, a friend of the blog whom I consider to be an (the?) authority on frontier market investing, will be presenting [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=966&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>I&#8217;m Still Bullish on Frontier Markets</title>
		<link>http://www.straightstocks.com/investing-in-energy-markets/im-still-bullish-on-frontier-markets/</link>
		<comments>http://www.straightstocks.com/investing-in-energy-markets/im-still-bullish-on-frontier-markets/#comments</comments>
		<pubDate>Mon, 24 Aug 2009 13:30:00 +0000</pubDate>
		<dc:creator>Michael E. Brisky</dc:creator>
				<category><![CDATA[Emerging Markets]]></category>
		<category><![CDATA[Energy Markets]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Abu Dhabi Commercial Bank;]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[bloomberg]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[Dubai Islamic Bank]]></category>
		<category><![CDATA[Eastern Europe]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[First Gulf Bank]]></category>
		<category><![CDATA[First Gulf Bank PJSC/a]]></category>
		<category><![CDATA[FULL]]></category>
		<category><![CDATA[Goldman Sachs]]></category>
		<category><![CDATA[Goldman Sachs Group Inc]]></category>
		<category><![CDATA[http]]></category>
		<category><![CDATA[michael brisky]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Middle East Fund]]></category>
		<category><![CDATA[National Bank of Abu Dhabi;]]></category>
		<category><![CDATA[National Bank PJSC/a]]></category>
		<category><![CDATA[Oil Prices]]></category>
		<category><![CDATA[Russia]]></category>
		<category><![CDATA[Saudi Arabia]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[Turkey]]></category>
		<category><![CDATA[UAE]]></category>
		<category><![CDATA[United Arab Emirates]]></category>
		<category><![CDATA[William A. Mejia]]></category>
		<category><![CDATA[www.bloomberg.com/apps/quote?ticker=UNB%3AUH]]></category>
		<category><![CDATA[Xml]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-819581243324579563.post-3154839122610596836</guid>
		<description><![CDATA[I want to preface this by saying I'm not as bullish on "frontier markets" as I am on "emerging markets". (I define frontier markets as Africa, the Middle East, Eastern Europe; I define emerging markets as the BRIC countries, and a few others).  But while the frontier markets were marked down especially hard in 2008, I'm still bullish on their outlook.  Many are resource rich, and with political stability, their economies will grow.  Keep in mind also that I have a very long time horizon until retirement, and can afford to be patient with investments like these.  I do own T Rowe Price's African and Middle East Fund (a href="http://finance.yahoo.com/q?s=tramx"TRAMX/a).  A recent development for them (within the past year) is that they were allowed to buy shares in Saudi Arabia, which is one of the most attractive countries to invest in in that region.  Although for the time being these countries mostly follow oil prices and the subsequent boom of the economy in areas like Dubai, I feel over time we'll continue to see more diversification, which will attract more investors.br /br /I saw this note out from Goldman Sachs regarding UAE banks today (a href="http://www.bloomberg.com/apps/news?pid=20601087amp;sid=az46SDUmvS5A"via Bloomberg/a):br /br /blockquotepUnited Arab Emirates’ banks may rise an average of 30 percent in a year as earnings “remain attractive” and valuations catch up with the emerging markets average, a href="http://www.bloomberg.com/apps/quote?ticker=GS%3AUS" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"Goldman Sachs Group Inc./a said.br /br /Valuations of six out of the top seven U.A.E. banks that Goldman Sachs covers are likely to improve to 1.2 times their estimated 2010 book value from about 1 as they catch up with the peer average in Turkey, Russia and South Africa, Goldman Sachs’ analysts led by a href="http://search.bloomberg.com/search?q=William+A.+Mejiaamp;site=wnewsamp;client=wnewsamp;proxystylesheet=wnewsamp;output=xml_no_dtdamp;ie=UTF-8amp;oe=UTF-8amp;filter=pamp;getfields=wnnisamp;sort=date:D:S:d1" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"William A. Mejia/a said in an August 21 report e- mailed today.br /br /Shares of the banks, which include a href="http://www.bloomberg.com/apps/quote?ticker=ADCB%3AUH" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"Abu Dhabi Commercial Bank PJSC/a, a href="http://www.bloomberg.com/apps/quote?ticker=FGB%3AUH" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"First Gulf Bank PJSC/a, a href="http://www.bloomberg.com/apps/quote?ticker=DIB%3AUH" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"Dubai Islamic Bank PJSC/a and a href="http://www.bloomberg.com/apps/quote?ticker=UNB%3AUH" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"Union National Bank PJSC/a, have already risen by 55 percent this year, although they are still about 50 percent lower than they were a year ago, the report said. a href="http://www.bloomberg.com/apps/quote?ticker=EMIRATES%3AUH" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"Emirates NBD PJSC/a, the nation’s largest bank by assets, and second-ranked a href="http://www.bloomberg.com/apps/quote?ticker=NBAD%3AUH" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"National Bank of Abu Dhabi PJSC/a, will face higher non-performing loans this year and a “more challenging” funding environment that will hurt growth, the report said. Although borrowing costs will stay high and slower loan growth will hurt revenue, banks’ “profitability levels in general will remain attractive,” the analysts said.br /br /“There is little to suggest U.A.E. banks should trade at a significant discount to global peers,” the report said.br /br /Goldman Sachs raised its rating on Abu Dhabi Commercial Bank and Dubai Islamic Bank to “neutral” from “sell” and cut National Bank of Abu Dhabi to “sell” from “neutral.” It reduced its rating on First Gulf Bank to “neutral” from a “buy.”br //pp /p/blockquotediv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/819581243324579563-3154839122610596836?l=briskycapital.blogspot.com'//div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-in-energy-markets/im-still-bullish-on-frontier-markets/feed/</wfw:commentRss>
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		<title>MSCI Frontier Emerging Markets Index</title>
		<link>http://www.straightstocks.com/investing-lessons/msci-frontier-emerging-markets-index/</link>
		<comments>http://www.straightstocks.com/investing-lessons/msci-frontier-emerging-markets-index/#comments</comments>
		<pubDate>Mon, 24 Aug 2009 13:21:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8897041195526421458</guid>
		<description><![CDATA[The annual country review for the MSCI Frontier Emerging Markets and MSCI Frontier Emerging Markets APEX Indices is upon us. There will be no changes in the country composition of the MSCI Frontier Emerging Markets Index.br /br /Following improved trading liquidity, Mauritius will be added to the MSCI Frontier Emerging Markets APEX Index, while Nigeria will be deleted from the index due to the introduction of restrictions and low liquidity in Nigeria's Foreign Exchange Market. br /The MSCI Frontier Emerging Markets APEX Index is a tradable proxy index reflecting investment opportunities within the frontier markets and lower size spectrum of the emerging markets. It is designed to serve as a liquid proxy to the broader MSCI Frontier Emerging Markets Index.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8897041195526421458?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>In Defense Of Securitization: Why The Model Is Sound, And Will Further Spread Through Developing Economies</title>
		<link>http://www.straightstocks.com/market-commentary/in-defense-of-securitization-why-the-model-is-sound-and-will-further-spread-through-developing-economies/</link>
		<comments>http://www.straightstocks.com/market-commentary/in-defense-of-securitization-why-the-model-is-sound-and-will-further-spread-through-developing-economies/#comments</comments>
		<pubDate>Sun, 23 Aug 2009 02:31:45 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Asset Manager]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[bank-lending activity;]]></category>
		<category><![CDATA[Botswana]]></category>
		<category><![CDATA[Botswana Stock Exchange]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Commentator]]></category>
		<category><![CDATA[Dilip Ratha]]></category>
		<category><![CDATA[Economist]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[Insurance Markets]]></category>
		<category><![CDATA[International Bank for Reconstruction and Development]]></category>
		<category><![CDATA[Investment Banker]]></category>
		<category><![CDATA[J P Morgan]]></category>
		<category><![CDATA[J. David Cummins]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[life insurance]]></category>
		<category><![CDATA[NERA Economic Consulting]]></category>
		<category><![CDATA[Obama administration]]></category>
		<category><![CDATA[Paul Krugman]]></category>
		<category><![CDATA[Professor Emeritus]]></category>
		<category><![CDATA[Salomon;]]></category>
		<category><![CDATA[Sanket Mohapatra]]></category>
		<category><![CDATA[Sonia Plaza]]></category>
		<category><![CDATA[Stephanus de Swardt]]></category>
		<category><![CDATA[structured finance]]></category>
		<category><![CDATA[sub-Saharan Africa]]></category>
		<category><![CDATA[the New York Times]]></category>
		<category><![CDATA[understandably seething writer]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[wall street]]></category>
		<category><![CDATA[World Bank Senior]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=962</guid>
		<description><![CDATA[The following appeared in the August edition of Business Diary Botswana.  Right now I find myself fascinated by the role that securitization and a mature credit derivatives market will ultimately play in frontier economies; as J.P. Morgan once penned, &#8220;credit derivatives allow even the most illiquid credit exposures to be transferred to the most [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=962&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Botswana miner primed to take advantage of impending bull market for copper</title>
		<link>http://www.straightstocks.com/market-commentary/botswana-miner-primed-to-take-advantage-of-impending-bull-market-for-copper/</link>
		<comments>http://www.straightstocks.com/market-commentary/botswana-miner-primed-to-take-advantage-of-impending-bull-market-for-copper/#comments</comments>
		<pubDate>Fri, 21 Aug 2009 03:40:03 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[bank credit]]></category>
		<category><![CDATA[Botswana Stock Exchange]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Gbp]]></category>
		<category><![CDATA[gold producer]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[junior copper miner]]></category>
		<category><![CDATA[Mowana Mine]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Zambia Copper Investments Ltd]]></category>
		<category><![CDATA[Zijin Mining Group]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=958</guid>
		<description><![CDATA[Botswana Stock Exchange (BSE)-listed junior copper miner, African Copper, announced that it would restart its operations at the Mowana Mine near Dukwi&#8211;which it shelved back in January&#8211;upon receiving $41 million in funding from mining investment firm Zambia Copper Investments Ltd (ZCI).  The firm also reported a pretax profit of 27.7 million pounds ($45.91 million), [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=958&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Oando grows top line 59% y/y.</title>
		<link>http://www.straightstocks.com/investing-lessons/oando-grows-top-line-59-yy/</link>
		<comments>http://www.straightstocks.com/investing-lessons/oando-grows-top-line-59-yy/#comments</comments>
		<pubDate>Thu, 20 Aug 2009 14:22:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-5795819055398383543</guid>
		<description><![CDATA[Oando reported better-than-expected results.  Sales grew 12.9%59% y/y.  Oando’s Q2 PBT ws N2.8bn as a result of a sequential increase in the PBT margin of 11 basis points.  A higher-than-expected tax rate of 30% meant that net earnings actually only grew by 8.7%.br /br /The upstream businesses as well as Gas  Power helped offset slight weakness in the marketing business.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-5795819055398383543?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<title>Nigeria’s Skye Bank continues to trade at an appreciable discount as NSE flounders</title>
		<link>http://www.straightstocks.com/market-commentary/nigeria%e2%80%99s-skye-bank-continues-to-trade-at-an-appreciable-discount-as-nse-flounders/</link>
		<comments>http://www.straightstocks.com/market-commentary/nigeria%e2%80%99s-skye-bank-continues-to-trade-at-an-appreciable-discount-as-nse-flounders/#comments</comments>
		<pubDate>Wed, 19 Aug 2009 02:55:46 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Baldwin Berges]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[customs agencies]]></category>
		<category><![CDATA[Dominant Player]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Lagos]]></category>
		<category><![CDATA[Moscow]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Nigerian Stock Exchange;]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Renaissance Capital]]></category>
		<category><![CDATA[retail public sector collections]]></category>
		<category><![CDATA[RTC Capital]]></category>
		<category><![CDATA[Skye Bank]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=955</guid>
		<description><![CDATA[While stocks in the Nigerian Stock Exchange (NSE) All-Share Index slid by 2.4% this week, and trading was halted in shares of the five banks that saw their CEOs unceremoniously sacked late last week, there may ultimately be attractive values forming among sound companies.  For instance, Renaissance Capital, a Moscow-based investment bank, gave a [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=955&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Devalued pound would help exports, hurt food price volatility</title>
		<link>http://www.straightstocks.com/egypt/devalued-pound-would-help-exports-hurt-food-price-volatility/</link>
		<comments>http://www.straightstocks.com/egypt/devalued-pound-would-help-exports-hurt-food-price-volatility/#comments</comments>
		<pubDate>Tue, 18 Aug 2009 02:28:43 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[bank lending]]></category>
		<category><![CDATA[Cairo;]]></category>
		<category><![CDATA[Central Bank of Egypt]]></category>
		<category><![CDATA[Economist]]></category>
		<category><![CDATA[EFG]]></category>
		<category><![CDATA[EFG economist]]></category>
		<category><![CDATA[EFG-Hermes]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Ramadan]]></category>
		<category><![CDATA[Simon Kitchen]]></category>
		<category><![CDATA[volatile food prices]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=951</guid>
		<description><![CDATA[EFG-Hermes, a Cairo-based investment bank, noted to investors last week that it expects the Egyptian pound to fall to LE 5.70 by the end of 2009 and LE 5.90 by the end of June 2010 relative to the U.S. dollar.  The pound has strengthened by 2.2% against the dollar since March, hurting exports and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=951&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Trend Condition of Country Funds</title>
		<link>http://www.straightstocks.com/market-commentary/trend-condition-of-country-funds/</link>
		<comments>http://www.straightstocks.com/market-commentary/trend-condition-of-country-funds/#comments</comments>
		<pubDate>Tue, 18 Aug 2009 02:04:51 +0000</pubDate>
		<dc:creator>Richard Shaw</dc:creator>
				<category><![CDATA[Developed Markets]]></category>
		<category><![CDATA[Emerging Markets]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Italy]]></category>
		<category><![CDATA[QVM Group LLC]]></category>
		<category><![CDATA[Richard Shaw]]></category>
		<category><![CDATA[SPY]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">http://www.qvmgroup.com/invest/?p=5821</guid>
		<description><![CDATA[There were some substantial price moves today for many country and region funds.  How do they look now relative to their 200-day simple moving averages?
The chart below shows the ratio of the price to the 200-day average, and the 100-day average to the 200-day average, for 35 country and region funds as of end-of-day August [...]]]></description>
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		<title>Dana Gas’ 2Q results benefit from Kurdistan exposure</title>
		<link>http://www.straightstocks.com/egypt/dana-gas%e2%80%99-2q-results-benefit-from-kurdistan-exposure/</link>
		<comments>http://www.straightstocks.com/egypt/dana-gas%e2%80%99-2q-results-benefit-from-kurdistan-exposure/#comments</comments>
		<pubDate>Mon, 17 Aug 2009 00:11:47 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Ahmed Al-Arbeed]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[Dana Gas]]></category>
		<category><![CDATA[energy markets]]></category>
		<category><![CDATA[energy sector post]]></category>
		<category><![CDATA[gas discovery]]></category>
		<category><![CDATA[Iraq]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Natural Gas]]></category>
		<category><![CDATA[oil and gas group]]></category>
		<category><![CDATA[Sharjah]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=948</guid>
		<description><![CDATA[Sharjah-based Dana Gas, the Gulf&#8217;s first privately run  natural gas firm, reported a 31% increase in gross profits compared to the same period last year.  Concurrently, net profits grew more than eleven-fold.  As usual, the firm&#8217;s Egyptian operations played a central role to its financial results; in fact, during the second quarter [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=948&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Five bank CEO&#8217;s fired in Nigeria</title>
		<link>http://www.straightstocks.com/investing-lessons/five-bank-ceos-fired-in-nigeria/</link>
		<comments>http://www.straightstocks.com/investing-lessons/five-bank-ceos-fired-in-nigeria/#comments</comments>
		<pubDate>Fri, 14 Aug 2009 15:03:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-5116659815759772977</guid>
		<description><![CDATA[In a dramatic move, the Central Bank of Nigeria has fired the CEOs of 5 banks for allowing margin lending exposure to get out of hand.  It has indicated that these banks will be recapitalised with a total of NGN 400bn in tier 2 capital. The affected banks are Intercontinental Bank, Union Bank of Nigeria, Oceanic International Bank, Finbank (First Inland Bank) and Afribank. .div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-5116659815759772977?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Indonesian banks forced to offer high deposit rates despite continually shrinking benchmark</title>
		<link>http://www.straightstocks.com/indonesia/indonesian-banks-forced-to-offer-high-deposit-rates-despite-continually-shrinking-benchmark/</link>
		<comments>http://www.straightstocks.com/indonesia/indonesian-banks-forced-to-offer-high-deposit-rates-despite-continually-shrinking-benchmark/#comments</comments>
		<pubDate>Thu, 13 Aug 2009 18:29:56 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Indonesia]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[bank lending]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[Erwin Aksa]]></category>
		<category><![CDATA[House of Representatives]]></category>
		<category><![CDATA[Indonesian Young Entrepreneurs Association]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[legislative solution]]></category>
		<category><![CDATA[liquidity concerns;]]></category>
		<category><![CDATA[The Jakarta Post]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=944</guid>
		<description><![CDATA[Per The Jakarta Post, bank lending in Indonesia grew by just 2.09% from December last year to June compared with 16.26% a year earlier.  Working capital loans slid the most, a sign of firms&#8217; reluctance to expand, and banks also cutback loans out of fear that non-performing loans (NPL)&#8211;currently at 3.94%&#8211; would increase beyond [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=944&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/indonesia/indonesian-banks-forced-to-offer-high-deposit-rates-despite-continually-shrinking-benchmark/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>MENA correction may be imminent, warns analyst and managers alike</title>
		<link>http://www.straightstocks.com/market-commentary/mena-correction-may-be-imminent-warns-analyst-and-managers-alike/</link>
		<comments>http://www.straightstocks.com/market-commentary/mena-correction-may-be-imminent-warns-analyst-and-managers-alike/#comments</comments>
		<pubDate>Wed, 12 Aug 2009 01:14:49 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Asset Management]]></category>
		<category><![CDATA[Bahrain]]></category>
		<category><![CDATA[head]]></category>
		<category><![CDATA[Ibrahim Masood]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Manama]]></category>
		<category><![CDATA[Mashreq Bank]]></category>
		<category><![CDATA[Shakeel Sarwar]]></category>
		<category><![CDATA[SICO]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=938</guid>
		<description><![CDATA[Interesting comment by S&#38;P Fund Services lead analyst Alison Cratchley, made to Business Intelligence Middle-East, on the possibility of an impending correction across MENA markets:
&#8220;Relative to other emerging markets, the MENA region significantly underperformed (12.7% rise compared with 37.8%) in the six months to the end of June 2009.  This probably reflects investors’ perception [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=938&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/mena-correction-may-be-imminent-warns-analyst-and-managers-alike/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Nigeria to support indigenous oil industry</title>
		<link>http://www.straightstocks.com/investing-lessons/nigeria-to-support-indigenous-oil-industry/</link>
		<comments>http://www.straightstocks.com/investing-lessons/nigeria-to-support-indigenous-oil-industry/#comments</comments>
		<pubDate>Tue, 11 Aug 2009 11:23:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8003240313851160433</guid>
		<description><![CDATA[Proposals in draft nigerian legislation designed to encourage “indigenous” producers looks set to become law. The change will effect the re-licensing some of the more than 300 fields that have been discovered but not yet developed.br /br /It is expected that, the Nigerian company, Oando will be the biggest beneficiary.br /br /Total output in Nigeria’s oil sector, sub-Saharan Africa’s largest, is at about 1.7mb/d at most, cut to just over half of capacity by unrest and funding issues.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8003240313851160433?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/nigeria-to-support-indigenous-oil-industry/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Sugar continues to hit new highs</title>
		<link>http://www.straightstocks.com/investing-lessons/sugar-continues-to-hit-new-highs/</link>
		<comments>http://www.straightstocks.com/investing-lessons/sugar-continues-to-hit-new-highs/#comments</comments>
		<pubDate>Tue, 11 Aug 2009 10:27:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-2678976773176059633</guid>
		<description><![CDATA[The sugar price is now close to its ‘81 Peak. Damaged crops from India to Brazil mean the world won’t have enough sugar for a second straight year. Global demand will exceed output by as much as 5 million metric tons.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-2678976773176059633?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/sugar-continues-to-hit-new-highs/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Patchi float not just for sweet tooths</title>
		<link>http://www.straightstocks.com/market-commentary/patchi-float-not-just-for-sweet-tooths/</link>
		<comments>http://www.straightstocks.com/market-commentary/patchi-float-not-just-for-sweet-tooths/#comments</comments>
		<pubDate>Tue, 11 Aug 2009 03:37:44 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Beirut;]]></category>
		<category><![CDATA[chocolate chain]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[executive general manager]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Lebanon]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[Mazin Obeidi]]></category>
		<category><![CDATA[Patchi]]></category>
		<category><![CDATA[Starbucks]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Wolff Olins]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=933</guid>
		<description><![CDATA[Beirut&#8217;s &#8220;luxury&#8221; chocolate chain Patchi, recently named by brand consultancy Wolff Olins as one of the world’s five most successful new brands from emerging markets, recently hired financial advisers for a primary listing in Dubai and a secondary listing in London that will see up to 49% of the company floated.  The firm generated [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=933&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Ukraine’s Naftogaz affair a stark reminder of the important of due diligence</title>
		<link>http://www.straightstocks.com/market-commentary/ukraine%e2%80%99s-naftogaz-affair-a-stark-reminder-of-the-important-of-due-diligence/</link>
		<comments>http://www.straightstocks.com/market-commentary/ukraine%e2%80%99s-naftogaz-affair-a-stark-reminder-of-the-important-of-due-diligence/#comments</comments>
		<pubDate>Sun, 09 Aug 2009 22:53:09 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Analyst]]></category>
		<category><![CDATA[bank  sales]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[Finance Minister]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Naftogaz;]]></category>
		<category><![CDATA[natural gas pipeline]]></category>
		<category><![CDATA[state-owned gas]]></category>
		<category><![CDATA[Ukraine]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=926</guid>
		<description><![CDATA[Institutional investors that own debt issued by Naftogaz, Ukraine&#8217;s state-owned gas firm, are waiting to learn their fate as the $500m worth of Eurobonds September 30th due date rapidly approaches.  While some may have initially assumed that continued IMF largesse&#8211;$10bn of a $16.4bn standby loan program has now been disbursed&#8211;would render restructuring talk kaput, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=926&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/ukraine%e2%80%99s-naftogaz-affair-a-stark-reminder-of-the-important-of-due-diligence/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Frontier markets increasing trading capabilities</title>
		<link>http://www.straightstocks.com/indonesia/frontier-markets-increasing-trading-capabilities/</link>
		<comments>http://www.straightstocks.com/indonesia/frontier-markets-increasing-trading-capabilities/#comments</comments>
		<pubDate>Sun, 09 Aug 2009 14:38:21 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Indonesia]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[crude palm oil]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kuala Lumpur;]]></category>
		<category><![CDATA[Mauritius]]></category>
		<category><![CDATA[Oil Prices]]></category>
		<category><![CDATA[Palm Oil]]></category>
		<category><![CDATA[palm oil producer]]></category>
		<category><![CDATA[Silk Invest]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=924</guid>
		<description><![CDATA[While Silk Invest noted on Friday that Mauritius will soon introduce futures trading on its SEM-7 index&#8211;a process that will take roughly six months and is part of the island&#8217;s bid to attract new local and foreign investors and increase capitalization&#8211;Financial Times reported that Indonesia, the world&#8217;s largest palm oil producer, will launch a commodities [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=924&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/indonesia/frontier-markets-increasing-trading-capabilities/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>NBAD to grow loan book as NPLs rise, liquidity concerns remain</title>
		<link>http://www.straightstocks.com/market-commentary/nbad-to-grow-loan-book-as-npls-rise-liquidity-concerns-remain/</link>
		<comments>http://www.straightstocks.com/market-commentary/nbad-to-grow-loan-book-as-npls-rise-liquidity-concerns-remain/#comments</comments>
		<pubDate>Fri, 07 Aug 2009 20:56:24 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Algeria]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Bank of Abu Dhabi]]></category>
		<category><![CDATA[bloomberg]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Governor]]></category>
		<category><![CDATA[International Banking Division]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Jordan]]></category>
		<category><![CDATA[Lebanon]]></category>
		<category><![CDATA[Libya]]></category>
		<category><![CDATA[Michael H. Tomalin]]></category>
		<category><![CDATA[Morocco]]></category>
		<category><![CDATA[Oman]]></category>
		<category><![CDATA[Qamber al-Mulla]]></category>
		<category><![CDATA[senior general manager]]></category>
		<category><![CDATA[Sultan bin Nasser Al Suwaid]]></category>
		<category><![CDATA[Turkey]]></category>
		<category><![CDATA[UAE]]></category>
		<category><![CDATA[UAE Central Bank]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=920</guid>
		<description><![CDATA[National Bank of Abu Dhabi (NBAD), the country&#8217;s second-biggest bank by assets ($45 billion), will open branches in Jordan and Hong Kong before the year&#8217;s end, given the fact that there exists a strong contingent of citizens from said countries in the UAE.  The Bank will also expand into Libya (one branch next year), [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=920&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Mauritius to intorduce futures trading</title>
		<link>http://www.straightstocks.com/market-commentary/mauritius-to-intorduce-futures-trading/</link>
		<comments>http://www.straightstocks.com/market-commentary/mauritius-to-intorduce-futures-trading/#comments</comments>
		<pubDate>Fri, 07 Aug 2009 10:10:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Mauritius]]></category>
		<category><![CDATA[Mauritius Commercial Bank]]></category>
		<category><![CDATA[Naiade Resorts]]></category>
		<category><![CDATA[New Mauritius Hotels]]></category>
		<category><![CDATA[State Bank of Mauritius.div]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8433533595424155036</guid>
		<description><![CDATA[A giant leap for a frontier market.  The Stock Exchange of Mauritius will soon start trading in futures. The first futures contracts will be on the SEM-7 index and on some of the most liquid stocks traded on the official market. The SEM-7 is made up of the largest companies by market capitalization, including Mauritius Commercial Bank, Naiade Resorts, New Mauritius Hotels, and State Bank of Mauritius.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8433533595424155036?l=danfonds.blogspot.com'//div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/mauritius-to-intorduce-futures-trading/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Nigeria sees decline in telephone lines!</title>
		<link>http://www.straightstocks.com/investing-lessons/nigeria-sees-decline-in-telephone-lines/</link>
		<comments>http://www.straightstocks.com/investing-lessons/nigeria-sees-decline-in-telephone-lines/#comments</comments>
		<pubDate>Fri, 07 Aug 2009 08:52:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-57175482716989421</guid>
		<description><![CDATA[a href="http://2.bp.blogspot.com/_vp8WdjtxYc0/SnvsFoFmA_I/AAAAAAAAAT0/pIS8x7PLAkU/s1600-h/image001.png"img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 181px;" src="http://2.bp.blogspot.com/_vp8WdjtxYc0/SnvsFoFmA_I/AAAAAAAAAT0/pIS8x7PLAkU/s400/image001.png" border="0" alt=""id="BLOGGER_PHOTO_ID_5367142962346460146" //abr /This is not something that we have seen before.  Nigerian active lines actually declined in April. If you consider this as a proxy for household consumption, that is not good news. Admittedly the fall was just 75,000.  That said, we are used to hearing the number going up. In the previous months there had been increasesaroungg the one million level.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-57175482716989421?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>“The two largest pools of domestic capital, by and large, across Africa sit idle…”</title>
		<link>http://www.straightstocks.com/market-commentary/%e2%80%9cthe-two-largest-pools-of-domestic-capital-by-and-large-across-africa-sit-idle%e2%80%a6%e2%80%9d/</link>
		<comments>http://www.straightstocks.com/market-commentary/%e2%80%9cthe-two-largest-pools-of-domestic-capital-by-and-large-across-africa-sit-idle%e2%80%a6%e2%80%9d/#comments</comments>
		<pubDate>Thu, 06 Aug 2009 04:05:18 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[CIO]]></category>
		<category><![CDATA[Henricus J. Stander III]]></category>
		<category><![CDATA[Henshaw Capital Partners]]></category>
		<category><![CDATA[Insurance]]></category>
		<category><![CDATA[insurance balance sheets]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[johannesburg]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[model]]></category>
		<category><![CDATA[Namibia]]></category>
		<category><![CDATA[national pension fund]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[official development assistance]]></category>
		<category><![CDATA[project real estate investments]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=918</guid>
		<description><![CDATA[So argues Henricus J. Stander III, CIO of Henshaw Capital Partners, a London and Johannesburg-based alternative asset management company that launched the first-ever Pan-Africa private equity fund of funds early last year, in a fascinating piece penned for Africa investor in July.
To help escape the &#8220;second wave of effects&#8221; stemming from the credit crisis&#8211;&#8221;reduced export [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=918&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Oceanic looking to shrug off losses, continue expansion</title>
		<link>http://www.straightstocks.com/market-commentary/oceanic-looking-to-shrug-off-losses-continue-expansion/</link>
		<comments>http://www.straightstocks.com/market-commentary/oceanic-looking-to-shrug-off-losses-continue-expansion/#comments</comments>
		<pubDate>Wed, 05 Aug 2009 21:57:53 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Analyst]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Cecilia Ibru]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Nigeria’s Oceanic Bank International]]></category>
		<category><![CDATA[Oil And Gas]]></category>
		<category><![CDATA[oil sector]]></category>
		<category><![CDATA[West Coast]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=913</guid>
		<description><![CDATA[Interesting interview with Cecilia Ibru, CEO of Nigeria’s Oceanic Bank International, in the latest McKinsey Quarterly (free subscription).  Among other salient points:
&#8220;Nigeria has not yet developed into an industrial economy, because we still depend on imports. But it’s not as if we can’t produce things in Nigeria. The downturn might be just the opportunity [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=913&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Ailing Kenyan pyrethrum market may get a boost</title>
		<link>http://www.straightstocks.com/market-commentary/ailing-kenyan-pyrethrum-market-may-get-a-boost/</link>
		<comments>http://www.straightstocks.com/market-commentary/ailing-kenyan-pyrethrum-market-may-get-a-boost/#comments</comments>
		<pubDate>Wed, 05 Aug 2009 16:59:09 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[established processor]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[synthetic chemical substitutes]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=909</guid>
		<description><![CDATA[The amendment of a finance bill before Kenya&#8217;s parliament is expected to pass and will allow for the liberalization of the country&#8217;s pyrethrum sector, once the country&#8217;s largest foreign exchange earner.  In fact, per Business Daily Africa, until 2003, Kenya commanded 80% of the growing EU pyrethrin market, largely because of its ideal growing climate.  [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=909&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/ailing-kenyan-pyrethrum-market-may-get-a-boost/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>“The new coupling” of the economies of Africa and Asia; but will China’s rate of consumption continue?</title>
		<link>http://www.straightstocks.com/commodities/%e2%80%9cthe-new-coupling%e2%80%9d-of-the-economies-of-africa-and-asia-but-will-china%e2%80%99s-rate-of-consumption-continue/</link>
		<comments>http://www.straightstocks.com/commodities/%e2%80%9cthe-new-coupling%e2%80%9d-of-the-economies-of-africa-and-asia-but-will-china%e2%80%99s-rate-of-consumption-continue/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 15:29:39 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Frontier Advisory CEO]]></category>
		<category><![CDATA[Heinz Pley]]></category>
		<category><![CDATA[India]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[johannesburg]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[Macro Man]]></category>
		<category><![CDATA[manager]]></category>
		<category><![CDATA[Martyn Davies]]></category>
		<category><![CDATA[Principal]]></category>
		<category><![CDATA[sub-Saharan Africa]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=905</guid>
		<description><![CDATA[In a speech given to mining investors while in Johannesburg earlier this year, Frontier Advisory CEO Dr. Martyn Davies reiterated the case for frontier, and specifically, Africa-centric investment:
“If you believe in the long-term urbanization success story of China and India, you buy Africa, because that’s where the commodities are going to come from,&#8221; Davies told [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=905&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/commodities/%e2%80%9cthe-new-coupling%e2%80%9d-of-the-economies-of-africa-and-asia-but-will-china%e2%80%99s-rate-of-consumption-continue/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Frontier-related FT pieces from Monday</title>
		<link>http://www.straightstocks.com/market-commentary/frontier-related-ft-pieces-from-monday/</link>
		<comments>http://www.straightstocks.com/market-commentary/frontier-related-ft-pieces-from-monday/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 01:54:03 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[The Financial Times]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=901</guid>
		<description><![CDATA[Everyday I try to make it through as much of the Financial Times as I can, and have yet to feel worse off for my efforts.   Some frontier-related musings from Monday:

Per John Dizard, &#8220;it’s worth keeping an eye on the continued willingness of the Baltic states to maintain their [Euro] pegs at such [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=901&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/frontier-related-ft-pieces-from-monday/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Orascom’s free cash flow predicated on diverse sources, both frontier and otherwise</title>
		<link>http://www.straightstocks.com/egypt/orascom%e2%80%99s-free-cash-flow-predicated-on-diverse-sources-both-frontier-and-otherwise/</link>
		<comments>http://www.straightstocks.com/egypt/orascom%e2%80%99s-free-cash-flow-predicated-on-diverse-sources-both-frontier-and-otherwise/#comments</comments>
		<pubDate>Mon, 03 Aug 2009 15:08:38 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Algeria]]></category>
		<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bangladesh]]></category>
		<category><![CDATA[Bell Canada Mobility]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Foreign Trade Bank]]></category>
		<category><![CDATA[high-speed mobile network]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[mid-cap mobile operators]]></category>
		<category><![CDATA[Naeem Holding]]></category>
		<category><![CDATA[North Korea]]></category>
		<category><![CDATA[Ora Bank]]></category>
		<category><![CDATA[Orascom Telecom Holding]]></category>
		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Rogers Wireless]]></category>
		<category><![CDATA[Telecel Globe]]></category>
		<category><![CDATA[Telecel Zimbabwe]]></category>
		<category><![CDATA[Telus]]></category>
		<category><![CDATA[Tunisia]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[well-balanced group]]></category>
		<category><![CDATA[Zimbabwe]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=896</guid>
		<description><![CDATA[While assigning a &#8220;buy&#8221; rating to Egypt&#8217;s Orascom Telecom Holding (OTH), MENA investment bank Naeem Holding praised the company&#8217;s growth strategy and noted that it has &#8220;evolved into a well-balanced group with operations in mature markets providing healthy cash flow, while more exotic markets offer growth.&#8221;  Its analysts forecasts the firm to generate free [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=896&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/egypt/orascom%e2%80%99s-free-cash-flow-predicated-on-diverse-sources-both-frontier-and-otherwise/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>“Aggressive drilling campaign” puts Dana Gas on pace to achieve target production</title>
		<link>http://www.straightstocks.com/egypt/%e2%80%9caggressive-drilling-campaign%e2%80%9d-puts-dana-gas-on-pace-to-achieve-target-production/</link>
		<comments>http://www.straightstocks.com/egypt/%e2%80%9caggressive-drilling-campaign%e2%80%9d-puts-dana-gas-on-pace-to-achieve-target-production/#comments</comments>
		<pubDate>Sun, 02 Aug 2009 21:10:50 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Egypt]]></category>
		<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Ahmed Al-Arbeed]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[Dana Gas]]></category>
		<category><![CDATA[gas finds]]></category>
		<category><![CDATA[Iraq]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Natural Gas]]></category>
		<category><![CDATA[oil equivalent/day]]></category>
		<category><![CDATA[Sharjah]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=893</guid>
		<description><![CDATA[Sharjah-based Dana Gas announced two new gas finds over the weekend in Egypt with reserves totalling an estimated 76 billion cubic feet, leading its CEO Ahmed Al-Arbeed to note that the discoveries would boost the firm&#8217;s production and profitability and &#8220;take us closer to achieving our target production of 40,000 barrels of oil equivalent/day by [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=893&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>The Case for Frontier Market Fixed Income</title>
		<link>http://www.straightstocks.com/investing-lessons/the-case-for-frontier-market-fixed-income/</link>
		<comments>http://www.straightstocks.com/investing-lessons/the-case-for-frontier-market-fixed-income/#comments</comments>
		<pubDate>Sun, 02 Aug 2009 07:19:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-1690204288035085519</guid>
		<description><![CDATA[a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1441894"Working Paper Series br /Date posted: August 01, 2009 ; Last revised: August 01, 2009/abr /br /Abstract:      br /Frontier market debt is becoming increasingly attractive as an asset class, supported by the economic development of the less developed emerging markets. Analysis of the constituents of this off-benchmark asset class shows that allocation to it can potentially result in higher yield and better diversification. The authors argue that frontier fixed income should be included in strategic asset allocation using a technique known as reverse asset allocation. br /br /Keywords: Emerging Market, Debt, fixed income, frontier markets, asset allocation br /br /JEL Classifications: B00 br /Citationbr /br /Broby, Daniel P. and, Bates, John., White Paper: The Case for Frontier Market Fixed Income(July 31, 2009). Available at SSRN: http://ssrn.com/abstract=1441894div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-1690204288035085519?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Fitch gives B+ rating to Nigeria’s Union Bank</title>
		<link>http://www.straightstocks.com/market-commentary/fitch-gives-b-rating-to-nigeria%e2%80%99s-union-bank/</link>
		<comments>http://www.straightstocks.com/market-commentary/fitch-gives-b-rating-to-nigeria%e2%80%99s-union-bank/#comments</comments>
		<pubDate>Sat, 01 Aug 2009 22:27:05 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[banker]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[Fitch Ratings]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[sound retail franchise]]></category>
		<category><![CDATA[sub-Saharan Africa]]></category>
		<category><![CDATA[Union Bank]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=890</guid>
		<description><![CDATA[Back in June, The Banker, a London-based publication of Financial Times, included Nigeria&#8217;s Union Bank in its &#8220;Top 1000 world banks 2009&#8243; list as one of 13 Nigerian Banks in the sub-Saharan Africa that showed &#8220;solidity, resilience and growth during the period under review.&#8221;  Moreover, it wrote, “Nigerian banks continued to amass Tier 1 [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=890&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Investment in Serbia</title>
		<link>http://www.straightstocks.com/investing-lessons/investment-in-serbia/</link>
		<comments>http://www.straightstocks.com/investing-lessons/investment-in-serbia/#comments</comments>
		<pubDate>Sat, 01 Aug 2009 11:45:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-1975102118268872945</guid>
		<description><![CDATA[There are only seven companies in Serbia that rank in the top 500 in Eastern Europe. Investors look for more choice.  Maybe with the future IPO's of JATA, Telekom and Galenika that will change. Of the 800 joint stock companies, which are listed on the BSE, only 34 have sufficient trading volume.  For example, if I would now like to buy Messer Technogas, on the basis of the current valuation on the BSE, one would need a year to build a small position of around 100,000 dollars. This will change when Serbia develops active domestic investors, who buy and sell regularly. In the meantime, why would anyone buy such an illiquid company although it has value? br /br /On the positive side, six-month bonds issued by the Ministry of Finance with a yield of 13.99 percent is not bad.br /br /To see the rest of Daniel Broby's (CIO of Silk Invest) interview with Blic, Serbia's leading newspaper, see the following link.  br /br /http://www.blic.rs/ekonomija.php?id=101139div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-1975102118268872945?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Silk Invest sees renewed bond issuance in Nigeria</title>
		<link>http://www.straightstocks.com/investing-lessons/silk-invest-sees-renewed-bond-issuance-in-nigeria/</link>
		<comments>http://www.straightstocks.com/investing-lessons/silk-invest-sees-renewed-bond-issuance-in-nigeria/#comments</comments>
		<pubDate>Fri, 31 Jul 2009 12:38:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-1883844684540199785</guid>
		<description><![CDATA[The Nigerian banks are starting to pile into their local bond markets. Guaranty Trust Bank is seeking approval for a N200bn ($1.3bn) debt issue. This follows similar plans at First Bank (N500bn) and marks a much anticipated return for the banks who have dormant in issuance for three years. Likewise, Access Bank has also drafted plans to issue debt. br /br /We would caution that a major credit risk is the potential for over-issuance of debt. In the interim, however, we look forward to observing the development of a much needed yield curve in Nigeria which will enable the banks to see longer term business objectives met as well as the potential for investors to play relative value investment strategies.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-1883844684540199785?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Global recession not impacting frontier markets</title>
		<link>http://www.straightstocks.com/investing-lessons/global-recession-not-impacting-frontier-markets/</link>
		<comments>http://www.straightstocks.com/investing-lessons/global-recession-not-impacting-frontier-markets/#comments</comments>
		<pubDate>Fri, 31 Jul 2009 09:26:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-5251872267553020308</guid>
		<description><![CDATA[a href="http://3.bp.blogspot.com/_vp8WdjtxYc0/SnK5JGJOGbI/AAAAAAAAATM/JsfChjBIpDc/s1600-h/handler.jpg"img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 299px;" src="http://3.bp.blogspot.com/_vp8WdjtxYc0/SnK5JGJOGbI/AAAAAAAAATM/JsfChjBIpDc/s400/handler.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5364553672070928818" //abr /This is an interesting visual from the Economist..div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-5251872267553020308?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Will Ghana’s Eurobond rise open the gates for others in Africa?</title>
		<link>http://www.straightstocks.com/market-commentary/will-ghana%e2%80%99s-eurobond-rise-open-the-gates-for-others-in-africa/</link>
		<comments>http://www.straightstocks.com/market-commentary/will-ghana%e2%80%99s-eurobond-rise-open-the-gates-for-others-in-africa/#comments</comments>
		<pubDate>Thu, 30 Jul 2009 03:01:07 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Botswana]]></category>
		<category><![CDATA[Fitch]]></category>
		<category><![CDATA[Ghana]]></category>
		<category><![CDATA[International Bank for Reconstruction and Development]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kenya]]></category>
		<category><![CDATA[Madagascar;]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[oil announcement]]></category>
		<category><![CDATA[oil field]]></category>
		<category><![CDATA[oil producers]]></category>
		<category><![CDATA[Senegal;]]></category>
		<category><![CDATA[Seychelles;]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[Standard & Poor]]></category>
		<category><![CDATA[Tanzania]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=887</guid>
		<description><![CDATA[Bloomberg reports that Ghana&#8217;s Eurobonds have surged 93% since last November and may continue to rise given the country&#8217;s increasingly attractive fiscal position due in part to the production of a new oil field that is expected to put it in the world’s top 50 oil producers and to expand growth from an estimated 4.1% [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=887&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Chavez, exporters, Central Bank team to drive down Colombia’s peso</title>
		<link>http://www.straightstocks.com/market-commentary/chavez-exporters-central-bank-team-to-drive-down-colombia%e2%80%99s-peso/</link>
		<comments>http://www.straightstocks.com/market-commentary/chavez-exporters-central-bank-team-to-drive-down-colombia%e2%80%99s-peso/#comments</comments>
		<pubDate>Wed, 29 Jul 2009 20:52:20 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Agriculture]]></category>
		<category><![CDATA[Agriculture Minister]]></category>
		<category><![CDATA[Andres Fernandez]]></category>
		<category><![CDATA[bloomberg]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Colombia]]></category>
		<category><![CDATA[Hugo Chávez]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[minister]]></category>
		<category><![CDATA[president]]></category>
		<category><![CDATA[RBS Securities Inc.]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[Venezuela]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=885</guid>
		<description><![CDATA[According to analysts with RBS Securities Inc., the decline of Colombia&#8217;s peso in light of Venezuelan President Hugo Chavez&#8217;s threat to freeze imports because of the country&#8217;s alleged cozy ties with U.S. &#8220;imperialists&#8221; may have more room to run in fact, given that the ascendancy of the world&#8217;s best performing currency YTD had come too [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=885&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>RevPARs down overall across ME</title>
		<link>http://www.straightstocks.com/market-commentary/revpars-down-overall-across-me/</link>
		<comments>http://www.straightstocks.com/market-commentary/revpars-down-overall-across-me/#comments</comments>
		<pubDate>Wed, 29 Jul 2009 16:45:49 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Abu Dhabi]]></category>
		<category><![CDATA[Beirut;]]></category>
		<category><![CDATA[Deloitte & Touche Middle East]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Jeddah]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Muscat;]]></category>
		<category><![CDATA[STR Global]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=881</guid>
		<description><![CDATA[Per hospitality research firm STR Global and Deloitte &#38; Touche Middle East, Middle East hotels in 22 cities in the region during the first half of 2009 witnessed an average 10.9% decrease in occupancies and a 17.2% drop in revenue per available room (RevPAR), an industry benchmark.  Among the worst RevPAR performers were Dubai (down 35%) [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=881&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<title>First Bank debt issue would give it new assets to manage, wake up moribund bond market</title>
		<link>http://www.straightstocks.com/market-commentary/first-bank-debt-issue-would-give-it-new-assets-to-manage-wake-up-moribund-bond-market/</link>
		<comments>http://www.straightstocks.com/market-commentary/first-bank-debt-issue-would-give-it-new-assets-to-manage-wake-up-moribund-bond-market/#comments</comments>
		<pubDate>Wed, 29 Jul 2009 02:14:13 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Abuja;]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[annual general]]></category>
		<category><![CDATA[Babatunde Fashola]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Governor]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Lagos State Governor]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[Minister of State]]></category>
		<category><![CDATA[Minister of State for Finance]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Nokia N500 Car GPS Receiver]]></category>
		<category><![CDATA[Public Private Partnership;]]></category>
		<category><![CDATA[Remi Babalola]]></category>
		<category><![CDATA[Sanusi Lamido Sanusi]]></category>
		<category><![CDATA[tackle]]></category>
		<category><![CDATA[tax concerns]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=878</guid>
		<description><![CDATA[First Bank Nigerian shareholders will vote in August at their annual general meeting in Abuja on whether or not to raise a N500 billion ($3.4 billion) bond in support of domestic infrastructure financing under the country&#8217;s  Public-Private Partnership (PPP) program designed to fund and discharge governmental responsibilities while enabling the private sector take control [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=878&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/first-bank-debt-issue-would-give-it-new-assets-to-manage-wake-up-moribund-bond-market/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Zimbabwe sees strong trading volumes</title>
		<link>http://www.straightstocks.com/investing-lessons/zimbabwe-sees-strong-trading-volumes/</link>
		<comments>http://www.straightstocks.com/investing-lessons/zimbabwe-sees-strong-trading-volumes/#comments</comments>
		<pubDate>Tue, 28 Jul 2009 12:55:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-6078091203719051676</guid>
		<description><![CDATA[Accordins to Renaissance Capital, Zimbabwe is now the third biggest equities market in sub-Saharan Africa, based on turnover.  Volume has jumped from USD 50,000 to USD 1.3 million per day.  The market value of shares listed has jumped from a bargain basement USD 1bn to USD 4bn in seven months.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-6078091203719051676?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/zimbabwe-sees-strong-trading-volumes/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Moroccan banks immune to crisis, resilient comments Central Bank governor</title>
		<link>http://www.straightstocks.com/market-commentary/moroccan-banks-immune-to-crisis-resilient-comments-central-bank-governor/</link>
		<comments>http://www.straightstocks.com/market-commentary/moroccan-banks-immune-to-crisis-resilient-comments-central-bank-governor/#comments</comments>
		<pubDate>Tue, 28 Jul 2009 01:27:19 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Morocco]]></category>
		<category><![CDATA[Abdellatif Jouahri]]></category>
		<category><![CDATA[Attijariwafa Bank;]]></category>
		<category><![CDATA[Banque Marocaine du Commerce Exterieur]]></category>
		<category><![CDATA[BMCE (Banque Marocaine du Commerce Exterieur) Bank]]></category>
		<category><![CDATA[BNP Group]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Credit Agricole]]></category>
		<category><![CDATA[France]]></category>
		<category><![CDATA[Governor]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[sub-Saharan Africa]]></category>
		<category><![CDATA[west africa]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=876</guid>
		<description><![CDATA[According to Silk Invest, much of the reason that &#8220;institutional investors started coming back [late last week] into the [Casablanca All Share Index] after a few weeks spent on the sidelines&#8221; was due to the announcement recently made by Central Bank governor Abdellatif Jouahri, who reiterated that the country&#8217;s banking sector hasd not been affected [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=876&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/moroccan-banks-immune-to-crisis-resilient-comments-central-bank-governor/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Clayton’s Cambodian PE fund getting deals done</title>
		<link>http://www.straightstocks.com/market-commentary/clayton%e2%80%99s-cambodian-pe-fund-getting-deals-done/</link>
		<comments>http://www.straightstocks.com/market-commentary/clayton%e2%80%99s-cambodian-pe-fund-getting-deals-done/#comments</comments>
		<pubDate>Mon, 27 Jul 2009 03:45:02 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Asia]]></category>
		<category><![CDATA[Cambodia]]></category>
		<category><![CDATA[Cambodia Investment and Development Fund]]></category>
		<category><![CDATA[Cambodian People’s Party]]></category>
		<category><![CDATA[cellphone operators]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[consortium  group]]></category>
		<category><![CDATA[Douglas Clayton]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[founder]]></category>
		<category><![CDATA[fund manager]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Jim Rogers]]></category>
		<category><![CDATA[Leopard Capital]]></category>
		<category><![CDATA[Malaysia]]></category>
		<category><![CDATA[Marc Faber]]></category>
		<category><![CDATA[Marvin Yeo]]></category>
		<category><![CDATA[medium and low voltage networks]]></category>
		<category><![CDATA[New York Times]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Phnom Penh;]]></category>
		<category><![CDATA[rental car agencies]]></category>
		<category><![CDATA[Sam Rainsy Party]]></category>
		<category><![CDATA[south korea]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=868</guid>
		<description><![CDATA[Phnom Penh-based private equity firm Leopard Capital completed its second and third deals last month, including a $1 million investment in a consortium  group whose implementation of a transmission and distribution system 120km in length, which includes medium and low voltage networks, will provide grid power to 7,700 residential customers and 375 commercial and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=868&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/clayton%e2%80%99s-cambodian-pe-fund-getting-deals-done/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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		<title>Du’s role in synthetic UAE mobile duopoly holding back Etisalat?</title>
		<link>http://www.straightstocks.com/market-commentary/du%e2%80%99s-role-in-synthetic-uae-mobile-duopoly-holding-back-etisalat/</link>
		<comments>http://www.straightstocks.com/market-commentary/du%e2%80%99s-role-in-synthetic-uae-mobile-duopoly-holding-back-etisalat/#comments</comments>
		<pubDate>Mon, 27 Jul 2009 02:59:51 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[broadband]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[fixed-line internet costs]]></category>
		<category><![CDATA[Iphone]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[low-quality network]]></category>
		<category><![CDATA[Osman Sultan]]></category>
		<category><![CDATA[Telecommunications Regulatory Authority]]></category>
		<category><![CDATA[UAE]]></category>
		<category><![CDATA[UAE’s Telecommunications Regulatory Authority]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=866</guid>
		<description><![CDATA[Per its recently published quarterly results, du, a Dubai-based integrated telecom services provider, reported an increase of 156,000 new subscribers (giving it a total of 2.9 million active mobile customers), in addition to a 12% increase in revenues on the previous quarter and a greater than doubling of profits.  With an estimated 30% of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=866&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/du%e2%80%99s-role-in-synthetic-uae-mobile-duopoly-holding-back-etisalat/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Agthia’s growth reiterates the wisdom of defense</title>
		<link>http://www.straightstocks.com/market-commentary/agthia%e2%80%99s-growth-reiterates-the-wisdom-of-defense/</link>
		<comments>http://www.straightstocks.com/market-commentary/agthia%e2%80%99s-growth-reiterates-the-wisdom-of-defense/#comments</comments>
		<pubDate>Sun, 26 Jul 2009 05:07:19 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Abu Dhabi]]></category>
		<category><![CDATA[Agthia Group]]></category>
		<category><![CDATA[baby food]]></category>
		<category><![CDATA[beverage sector]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[food]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Rashid Mubarak Al Hajeri]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=863</guid>
		<description><![CDATA[Abu Dhabi-based Agthia Group, a holding company with three subsidiaries operating in the distribution and bottling of mineral water; the production of flour, animal feed and frozen and canned vegetables and the distribution of baby food, tea, juices and jam, reported strong growth (group sales up 18.7%; gross profit margin up 11.4%; and net profits [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=863&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/agthia%e2%80%99s-growth-reiterates-the-wisdom-of-defense/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Botswana: Diversity From Diamonds: The More Things Change…</title>
		<link>http://www.straightstocks.com/market-commentary/botswana-diversity-from-diamonds-the-more-things-change%e2%80%a6/</link>
		<comments>http://www.straightstocks.com/market-commentary/botswana-diversity-from-diamonds-the-more-things-change%e2%80%a6/#comments</comments>
		<pubDate>Sat, 25 Jul 2009 05:48:31 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[advisor to U.S. President]]></category>
		<category><![CDATA[advisor to U.S. President Jimmy Carter]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Analyst]]></category>
		<category><![CDATA[author and professor]]></category>
		<category><![CDATA[author and professor of economics]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Bank of Botswana;]]></category>
		<category><![CDATA[Bert Lance]]></category>
		<category><![CDATA[Botswana]]></category>
		<category><![CDATA[Botswana Institute for Development Policy Analysis]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Chaim Even-Zohar]]></category>
		<category><![CDATA[Credit rating agency]]></category>
		<category><![CDATA[De Beers]]></category>
		<category><![CDATA[Development Bank]]></category>
		<category><![CDATA[diamond jewelry retail demand]]></category>
		<category><![CDATA[Economist]]></category>
		<category><![CDATA[Executive Secretary]]></category>
		<category><![CDATA[Festus Mogae]]></category>
		<category><![CDATA[food]]></category>
		<category><![CDATA[Gaborone]]></category>
		<category><![CDATA[Gareth Penny]]></category>
		<category><![CDATA[Gross Domestic Product]]></category>
		<category><![CDATA[Growth Commission]]></category>
		<category><![CDATA[Happy Fidzani]]></category>
		<category><![CDATA[healthcare]]></category>
		<category><![CDATA[imprudent elected official]]></category>
		<category><![CDATA[Intelligence Unit;]]></category>
		<category><![CDATA[International Bank for Reconstruction and Development]]></category>
		<category><![CDATA[International Financial Services Center]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[jimmy carter]]></category>
		<category><![CDATA[joint-venture mining]]></category>
		<category><![CDATA[Kristin Lindow]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[Managing Director]]></category>
		<category><![CDATA[mining]]></category>
		<category><![CDATA[Moody’s]]></category>
		<category><![CDATA[non-mining sectors]]></category>
		<category><![CDATA[Oupa Tsheko]]></category>
		<category><![CDATA[president]]></category>
		<category><![CDATA[professor of economics]]></category>
		<category><![CDATA[retail]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[Standard & Poor]]></category>
		<category><![CDATA[Tacy Ltd.]]></category>
		<category><![CDATA[United Nations]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[University of Botswana in Gaborone]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Vice President]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=861</guid>
		<description><![CDATA[The following appeared in July&#8217;s Business Diary Botswana:
Speaking at a seminar in October 2006 devoted to the country&#8217;s efforts towards economic diversification, Happy Fidzani, Executive Secretary of the Botswana Institute for Development Policy Analysis (BIDPA), warned that the government&#8217;s &#8220;heavy confidence&#8221; in its mining sector&#8211;namely rough diamond extraction through Debswana, the joint-venture mining firm operated [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=861&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Developing countries should eschew large banks, complex capital markets argues economist</title>
		<link>http://www.straightstocks.com/market-commentary/developing-countries-should-eschew-large-banks-complex-capital-markets-argues-economist/</link>
		<comments>http://www.straightstocks.com/market-commentary/developing-countries-should-eschew-large-banks-complex-capital-markets-argues-economist/#comments</comments>
		<pubDate>Sun, 19 Jul 2009 22:51:05 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Britain]]></category>
		<category><![CDATA[Caribbean]]></category>
		<category><![CDATA[central Asia]]></category>
		<category><![CDATA[chief economist]]></category>
		<category><![CDATA[Denmark]]></category>
		<category><![CDATA[Economist]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[International Bank for Reconstruction and Development]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Justin Lin]]></category>
		<category><![CDATA[Latin America]]></category>
		<category><![CDATA[non-bank financial institutions]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[Spain]]></category>
		<category><![CDATA[The Macro Trader]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=858</guid>
		<description><![CDATA[Frontier investors and managers habitually stay abreast of the ins and outs of the world&#8217;s most illiquid exchanges in the hopes of either arbitraging out short-term anomalies, and/or positioning themselves for long-term growth upon currently cheap share valuations.
But what role do said exchanges play in the very societies in which they sit?  A guest [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=858&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/developing-countries-should-eschew-large-banks-complex-capital-markets-argues-economist/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Will ASEAN stocks welcome the Singapore Sling?</title>
		<link>http://www.straightstocks.com/market-commentary/will-asean-stocks-welcome-the-singapore-sling/</link>
		<comments>http://www.straightstocks.com/market-commentary/will-asean-stocks-welcome-the-singapore-sling/#comments</comments>
		<pubDate>Wed, 15 Jul 2009 20:48:09 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Association of Southeast Asian Nation]]></category>
		<category><![CDATA[Credit Suisse]]></category>
		<category><![CDATA[Indonesia]]></category>
		<category><![CDATA[Japan]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Pharmaceuticals]]></category>
		<category><![CDATA[Philippines]]></category>
		<category><![CDATA[Singapore]]></category>
		<category><![CDATA[Southeast Asia]]></category>
		<category><![CDATA[Thailand]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=855</guid>
		<description><![CDATA[Credit Suisse&#8217;s recommendation for clients to shift Taiwanese holdings into Southeast Asia is predicated on the fact that the latter trades at a discount of 138%, near its record low of 159% in March, in a comparison of the two markets’ relative price-to-book ratios against their returns on equity.  Specifically, its analysts added, banks in [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=855&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/will-asean-stocks-welcome-the-singapore-sling/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Ghana to become Africa’s newest crude exporter</title>
		<link>http://www.straightstocks.com/market-commentary/ghana-to-become-africa%e2%80%99s-newest-crude-exporter/</link>
		<comments>http://www.straightstocks.com/market-commentary/ghana-to-become-africa%e2%80%99s-newest-crude-exporter/#comments</comments>
		<pubDate>Wed, 15 Jul 2009 15:16:17 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Ghana]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Natural Gas]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Per Bloomberg]]></category>
		<category><![CDATA[The Macro Trader]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=853</guid>
		<description><![CDATA[Per Bloomberg, Ghana expects to pump 500,000 barrels of oil a day by 2014 as it seeks to boost supplies to the domestic market and become Africa’s newest crude exporter.  The government recently approved a plan to pump crude from the Jubilee field in the second half of 2010.  Moreover, the various group developing Jubilee have agreed [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=853&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/ghana-to-become-africa%e2%80%99s-newest-crude-exporter/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Air Arabia expects stong Moroccan growth</title>
		<link>http://www.straightstocks.com/investing-lessons/air-arabia-expects-stong-moroccan-growth/</link>
		<comments>http://www.straightstocks.com/investing-lessons/air-arabia-expects-stong-moroccan-growth/#comments</comments>
		<pubDate>Wed, 15 Jul 2009 14:24:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-4227640797190831895</guid>
		<description><![CDATA[Air Arabia wants its Air Arabia (Maroc) to become as big as it is within five years. The Dubai-listed carrier, the Gulf Arab region's largest low-cost airline, plans to expand by three to four aircraft per year. Moroccan shareholders own 51% of Air Arabia (Maroc), including family-owned holding company Holmarcom. The remaining 49% is held by listed Air Arabia and a Bahraini bank. Air Arabia (Maroc) will help meet growing demand for travel to Morocco the government expects to exceed 2008's record 8m visitors in 2009 and is aiming for almost 10m tourists in 2010.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-4227640797190831895?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/air-arabia-expects-stong-moroccan-growth/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Africa shrugs off worst of equity market correction.</title>
		<link>http://www.straightstocks.com/investing-lessons/africa-shrugs-off-worst-of-equity-market-correction/</link>
		<comments>http://www.straightstocks.com/investing-lessons/africa-shrugs-off-worst-of-equity-market-correction/#comments</comments>
		<pubDate>Wed, 15 Jul 2009 12:53:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-7335018266988534003</guid>
		<description><![CDATA[a href="http://4.bp.blogspot.com/_vp8WdjtxYc0/Sl3RosaW5tI/AAAAAAAAAS8/VJq6omC1f8A/s1600-h/sg2009071549691.gif"img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 286px;" src="http://4.bp.blogspot.com/_vp8WdjtxYc0/Sl3RosaW5tI/AAAAAAAAAS8/VJq6omC1f8A/s400/sg2009071549691.gif" border="0" alt=""id="BLOGGER_PHOTO_ID_5358669628687443666" //abr /It is good to see that equity markets appear to have finished the short term correction.  Take a look, however, at how robust Africa has been in the sell off!div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-7335018266988534003?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/africa-shrugs-off-worst-of-equity-market-correction/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Oando set to benefit from rising oil prices, imminent deregulation</title>
		<link>http://www.straightstocks.com/market-commentary/oando-set-to-benefit-from-rising-oil-prices-imminent-deregulation/</link>
		<comments>http://www.straightstocks.com/market-commentary/oando-set-to-benefit-from-rising-oil-prices-imminent-deregulation/#comments</comments>
		<pubDate>Wed, 15 Jul 2009 04:20:24 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[crude oil exporter]]></category>
		<category><![CDATA[downstream oil sector]]></category>
		<category><![CDATA[Energy Industry]]></category>
		<category><![CDATA[ever-volatile oil price]]></category>
		<category><![CDATA[fuel distributor]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Nigerian Agip Oil Company]]></category>
		<category><![CDATA[Oando PLC]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[petroleum products]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Wale Tinubu]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=850</guid>
		<description><![CDATA[According to Wale Tinubu, CEO of Oando PLC, Nigeria&#8217;s foremost indigenous oilfield services company and fuel distributor, the firm&#8217;s plan to realize a production target of 100,000 barrels of oil per day within the next four years is already &#8220;fully funded.&#8221;  Oando made headlines in May when it announced the completion of a $150 [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=850&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/oando-set-to-benefit-from-rising-oil-prices-imminent-deregulation/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>African, MENA fundamentals the stuff Western markets can “only dream of”</title>
		<link>http://www.straightstocks.com/market-commentary/african-mena-fundamentals-the-stuff-western-markets-can-%e2%80%9conly-dream-of%e2%80%9d/</link>
		<comments>http://www.straightstocks.com/market-commentary/african-mena-fundamentals-the-stuff-western-markets-can-%e2%80%9conly-dream-of%e2%80%9d/#comments</comments>
		<pubDate>Tue, 14 Jul 2009 17:16:42 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=837</guid>
		<description><![CDATA[In addition to its Frontier Markets Blog, Silk Invest, managers of both the African Lions and Arab Falcons funds, now offers a &#8216;Silk Invest Updates&#8217; blog complete with pertinent market commentary.  A recent posting nicely sums up the mantra behind frontier investing at the moment:
&#8220;It is pretty obvious that the fundamentals of many African [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=837&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/african-mena-fundamentals-the-stuff-western-markets-can-%e2%80%9conly-dream-of%e2%80%9d/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Botswana’s gross domestic product plunges 22%!</title>
		<link>http://www.straightstocks.com/investing-lessons/botswana%e2%80%99s-gross-domestic-product-plunges-22/</link>
		<comments>http://www.straightstocks.com/investing-lessons/botswana%e2%80%99s-gross-domestic-product-plunges-22/#comments</comments>
		<pubDate>Tue, 14 Jul 2009 12:31:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8247917212765894272</guid>
		<description><![CDATA[Botswana's GDP fell by 22% compared to Q4 2008. The decline in GDP was due to decreases in mining and quarrying industry, water and electricity, general government, hotels and restaurants. Manufacturing fell by 15% while mining and quarrying industry contributed most to the decline at 68.6%.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8247917212765894272?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/botswana%e2%80%99s-gross-domestic-product-plunges-22/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Private Equity In Africa: Domestic demand provides shelter from the crunch</title>
		<link>http://www.straightstocks.com/market-commentary/private-equity-in-africa-domestic-demand-provides-shelter-from-the-crunch/</link>
		<comments>http://www.straightstocks.com/market-commentary/private-equity-in-africa-domestic-demand-provides-shelter-from-the-crunch/#comments</comments>
		<pubDate>Mon, 13 Jul 2009 14:14:44 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Actis Management]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Africa Business Intelligence]]></category>
		<category><![CDATA[Afrinvest]]></category>
		<category><![CDATA[Alexander Peter Groh]]></category>
		<category><![CDATA[Asia]]></category>
		<category><![CDATA[Aureos Capital]]></category>
		<category><![CDATA[Ayo Salami;]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[banker]]></category>
		<category><![CDATA[Brown University]]></category>
		<category><![CDATA[business intelligence]]></category>
		<category><![CDATA[buyout group]]></category>
		<category><![CDATA[cement;]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[CEO for West Africa]]></category>
		<category><![CDATA[Citadel Capital’s]]></category>
		<category><![CDATA[Coller Capital;]]></category>
		<category><![CDATA[Duet Victoire Africa Index Fund]]></category>
		<category><![CDATA[Erwin Roex]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[food]]></category>
		<category><![CDATA[Geneva]]></category>
		<category><![CDATA[Georgetown]]></category>
		<category><![CDATA[Henricus J. Stander III]]></category>
		<category><![CDATA[Henshaw Capital Partners]]></category>
		<category><![CDATA[IESE Business School;]]></category>
		<category><![CDATA[inadequate infrastructure]]></category>
		<category><![CDATA[infrastructure]]></category>
		<category><![CDATA[International Bank for Reconstruction and Development]]></category>
		<category><![CDATA[International Finance Corporation]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[johannesburg]]></category>
		<category><![CDATA[Latin America]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[manager]]></category>
		<category><![CDATA[Managing Director]]></category>
		<category><![CDATA[Marianne Ghali]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Moin Siddiqi]]></category>
		<category><![CDATA[Nigeria’s Diamond Bank]]></category>
		<category><![CDATA[North Africa]]></category>
		<category><![CDATA[Peter Schmid]]></category>
		<category><![CDATA[professor formerly]]></category>
		<category><![CDATA[professor of economics]]></category>
		<category><![CDATA[Rashad Kaldany]]></category>
		<category><![CDATA[Ross Levine]]></category>
		<category><![CDATA[Russia]]></category>
		<category><![CDATA[Simon Harford]]></category>
		<category><![CDATA[Sivendran Vettivetpillai]]></category>
		<category><![CDATA[Spain]]></category>
		<category><![CDATA[Sphinx Turnaround Fund]]></category>
		<category><![CDATA[spokesman]]></category>
		<category><![CDATA[Standard & Poor]]></category>
		<category><![CDATA[Steven Kaplan]]></category>
		<category><![CDATA[sub-Saharan Africa]]></category>
		<category><![CDATA[The Financial Times]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[the Maghreb;]]></category>
		<category><![CDATA[The Wall Street Journal]]></category>
		<category><![CDATA[The World Bank;]]></category>
		<category><![CDATA[University of Chicago]]></category>
		<category><![CDATA[University of Navarra in Spain]]></category>
		<category><![CDATA[unreliable electricity]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Vice President]]></category>
		<category><![CDATA[Vijaya Ramachandran]]></category>
		<category><![CDATA[west africa]]></category>
		<category><![CDATA[World Bank Group]]></category>
		<category><![CDATA[writer]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=833</guid>
		<description><![CDATA[The following appeared in June&#8217;s Business Diary Botswana:
Private equity (PE) has long been considered a viable way to achieve risk-adjusted returns that exceed those possible in the public equity markets (though per University of Chicago scholar Steven Kaplan, during the three decades ending in 2005, the average private equity firm’s annual return was no better [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=833&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<title>Zloty slated to fall against dollar</title>
		<link>http://www.straightstocks.com/market-commentary/zloty-slated-to-fall-against-dollar/</link>
		<comments>http://www.straightstocks.com/market-commentary/zloty-slated-to-fall-against-dollar/#comments</comments>
		<pubDate>Wed, 08 Jul 2009 21:28:39 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Poland]]></category>
		<category><![CDATA[bloomberg]]></category>
		<category><![CDATA[Commerzbank]]></category>
		<category><![CDATA[Eastern Europe]]></category>
		<category><![CDATA[Frankfurt]]></category>
		<category><![CDATA[head]]></category>
		<category><![CDATA[head of foreign- exchange research]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[Ulrich Leuchtmann;]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=831</guid>
		<description><![CDATA[Traders patiently watching the zloty&#8217;s climb against the dollar in 2009 have fairly good evidence of an imminent reverse trend.  A glance at the five-year chart shows that USD/PLN has now twice bounced off some fairly important support levels.  Furthermore, intuitively the breakdown makes sense.  Per a Bloomberg report today, Ulrich Leuchtmann, head of foreign- [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=831&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Rush to Zimbabwe predicated on dollarization’s perpetuity</title>
		<link>http://www.straightstocks.com/market-commentary/rush-to-zimbabwe-predicated-on-dollarization%e2%80%99s-perpetuity/</link>
		<comments>http://www.straightstocks.com/market-commentary/rush-to-zimbabwe-predicated-on-dollarization%e2%80%99s-perpetuity/#comments</comments>
		<pubDate>Wed, 08 Jul 2009 12:48:40 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[Delta]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[Finance Minister]]></category>
		<category><![CDATA[Harare-based CEO]]></category>
		<category><![CDATA[Harare;]]></category>
		<category><![CDATA[Imara Asset Management]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[John Legat]]></category>
		<category><![CDATA[Mark Tunmer]]></category>
		<category><![CDATA[Sean Gammon]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[Tendai Biti]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[Zimbabwe]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=828</guid>
		<description><![CDATA[John Legat, the Harare-based CEO of Imara Asset Management, noted this spring in regards to the &#8220;dollarization&#8221; of Zimbabwe that it had been &#8220;extraordinary how quickly consumption has started to increase, and with it volumes and capacity utilization.&#8221;  Zimbabwe has used the U.S. dollar as one of several multiple foreign currencies (notably South Africa&#8217;s [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=828&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/rush-to-zimbabwe-predicated-on-dollarization%e2%80%99s-perpetuity/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Almarai delivers again&#8230;</title>
		<link>http://www.straightstocks.com/investing-lessons/almarai-delivers-again/</link>
		<comments>http://www.straightstocks.com/investing-lessons/almarai-delivers-again/#comments</comments>
		<pubDate>Wed, 08 Jul 2009 11:27:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-4024228343436793025</guid>
		<description><![CDATA[a href="http://2.bp.blogspot.com/_vp8WdjtxYc0/SlSDoUIa8BI/AAAAAAAAARk/eVZKeXx3I_c/s1600-h/almari.jpg"img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 351px; height: 400px;" src="http://2.bp.blogspot.com/_vp8WdjtxYc0/SlSDoUIa8BI/AAAAAAAAARk/eVZKeXx3I_c/s400/almari.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5356050585472397330" //abr /Almarai delivered 2Q SAR287m net profit in-line. Lower There was a positive surprise on the operating expenses front. SGA as a % of sales improved significantly from 19.3% to 17.7%. The company is  increasing its focus on cost controls to offset slowing sales growth. br /br /Almarai, although a Saudi company, is the largest integrated dairy foods company in the world!div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-4024228343436793025?l=danfonds.blogspot.com' alt='' //div]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Newly launched Imara-run fund tied to commodities, junior miners</title>
		<link>http://www.straightstocks.com/market-commentary/newly-launched-imara-run-fund-tied-to-commodities-junior-miners/</link>
		<comments>http://www.straightstocks.com/market-commentary/newly-launched-imara-run-fund-tied-to-commodities-junior-miners/#comments</comments>
		<pubDate>Tue, 07 Jul 2009 23:25:54 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[asset management group]]></category>
		<category><![CDATA[Bruce Williamson]]></category>
		<category><![CDATA[East Africa Fund]]></category>
		<category><![CDATA[Imara Holdings]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[manager]]></category>
		<category><![CDATA[mining]]></category>
		<category><![CDATA[mining analyst]]></category>
		<category><![CDATA[Nigeria Fund]]></category>
		<category><![CDATA[Oil And Gas]]></category>
		<category><![CDATA[Opportunities Fund]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Zimbabwe Fund]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=824</guid>
		<description><![CDATA[Imara Holdings, the Botswana-listed, Pan-African investment bank and asset management group, recently launched a niche fund focused on small-to-medium-sized mining and other companies that often remain unnoticed by global funds that typically allocate resources towards more prominent resource firms.  Imara, which among other vehicles offers a Zimbabwe Fund, a Nigeria Fund, an East Africa [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=824&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sukuk market to double by year’s end, and new tax laws will help its reach</title>
		<link>http://www.straightstocks.com/market-commentary/sukuk-market-to-double-by-year%e2%80%99s-end-and-new-tax-laws-will-help-its-reach/</link>
		<comments>http://www.straightstocks.com/market-commentary/sukuk-market-to-double-by-year%e2%80%99s-end-and-new-tax-laws-will-help-its-reach/#comments</comments>
		<pubDate>Mon, 06 Jul 2009 22:28:31 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Bahrain]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[commodity finance]]></category>
		<category><![CDATA[conventional products]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[finance industry]]></category>
		<category><![CDATA[financial products]]></category>
		<category><![CDATA[Financial Services]]></category>
		<category><![CDATA[Financier]]></category>
		<category><![CDATA[France]]></category>
		<category><![CDATA[Hitherto]]></category>
		<category><![CDATA[Hong Kong government]]></category>
		<category><![CDATA[Indonesia]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[K.C. Chan]]></category>
		<category><![CDATA[Kenya]]></category>
		<category><![CDATA[Korea]]></category>
		<category><![CDATA[Laos;]]></category>
		<category><![CDATA[Malaysia]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[said financier]]></category>
		<category><![CDATA[Saudi Arabia]]></category>
		<category><![CDATA[secretary for financial services and the Treasury]]></category>
		<category><![CDATA[Standard & Poor]]></category>
		<category><![CDATA[Standard Chartered Bank]]></category>
		<category><![CDATA[Taiwan]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Vietnam]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=821</guid>
		<description><![CDATA[A Dow Jones report published last week quoted    Standard &#38; Poor&#8217;s Financial Services as theorizing that the $700 billion global Islamic finance industry would &#8220;weather the financial crisis&#8221; and moreover would resume its growth on the support of &#8220;high demand for Shariah-compliant products, which are considered less risky than convention debt.&#8221;  While [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=821&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/sukuk-market-to-double-by-year%e2%80%99s-end-and-new-tax-laws-will-help-its-reach/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Fund manager weighs in on current NSE equity allotment</title>
		<link>http://www.straightstocks.com/market-commentary/fund-manager-weighs-in-on-current-nse-equity-allotment/</link>
		<comments>http://www.straightstocks.com/market-commentary/fund-manager-weighs-in-on-current-nse-equity-allotment/#comments</comments>
		<pubDate>Mon, 06 Jul 2009 15:50:06 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[anonymous fund manager]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[manager]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[The Macro Trader]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=819</guid>
		<description><![CDATA[An anonymous fund manager weighed in today with his (or her?) &#8220;trading picks&#8221; vis a vis Nigeria&#8217;s All Share Index, which rallied 35% in Q2 after a 37% plunge in Q1 that caused it to be labeled the &#8216;world&#8217;s worst performing market&#8217; at the time.  The index remains down roughly 15% YTD, however.  New additions [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=819&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/fund-manager-weighs-in-on-current-nse-equity-allotment/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Surging ‘frontier gauge’ a red flag for risk?</title>
		<link>http://www.straightstocks.com/market-commentary/surging-%e2%80%98frontier-gauge%e2%80%99-a-red-flag-for-risk/</link>
		<comments>http://www.straightstocks.com/market-commentary/surging-%e2%80%98frontier-gauge%e2%80%99-a-red-flag-for-risk/#comments</comments>
		<pubDate>Wed, 01 Jul 2009 15:38:08 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Beat Lenherr]]></category>
		<category><![CDATA[chief global strategist]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[LGT Capital Management]]></category>
		<category><![CDATA[Singapore]]></category>
		<category><![CDATA[Sri Lanka]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[Vietnam]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=815</guid>
		<description><![CDATA[Interesting piece on Bloomberg about how rising frontier markets may indeed signal the death knell for the 2Q global equity rally.  Much like a pendulum moving out and then back, the rally may be peaking along with the recent rise by illiquid assets.  Think of equities alone as having their own &#8216;risk curve&#8217;; that is [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=815&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/surging-%e2%80%98frontier-gauge%e2%80%99-a-red-flag-for-risk/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Zain’s Africa sale would be with “higher-growth” Middle and Far East markets in mind</title>
		<link>http://www.straightstocks.com/market-commentary/zain%e2%80%99s-africa-sale-would-be-with-%e2%80%9chigher-growth%e2%80%9d-middle-and-far-east-markets-in-mind/</link>
		<comments>http://www.straightstocks.com/market-commentary/zain%e2%80%99s-africa-sale-would-be-with-%e2%80%9chigher-growth%e2%80%9d-middle-and-far-east-markets-in-mind/#comments</comments>
		<pubDate>Wed, 01 Jul 2009 13:55:53 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Assistant Chief Executive for Business Development]]></category>
		<category><![CDATA[basic telecom services]]></category>
		<category><![CDATA[bloomberg]]></category>
		<category><![CDATA[Booz & Company]]></category>
		<category><![CDATA[Celtel International]]></category>
		<category><![CDATA[Far East]]></category>
		<category><![CDATA[Gaza;]]></category>
		<category><![CDATA[Ghassan Hasbani]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kenya]]></category>
		<category><![CDATA[Kuwait]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Paltel]]></category>
		<category><![CDATA[Tanzania]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[Uganda]]></category>
		<category><![CDATA[USD]]></category>
		<category><![CDATA[Vp]]></category>
		<category><![CDATA[West  Bank;]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=812</guid>
		<description><![CDATA[According to its Assistant Chief Executive for Business Development and Government Relations Barrak al-Subeih, Zain&#8217;s possible decision to sell its African operations would be made in order to &#8220;look for expansion opportunities in other areas with higher growth rates, such as the Middle East or the Far East.&#8221;  Hitherto, the Kuwait telecom firm has spent [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=812&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/zain%e2%80%99s-africa-sale-would-be-with-%e2%80%9chigher-growth%e2%80%9d-middle-and-far-east-markets-in-mind/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>IMF say Tunisia is prudent and strong</title>
		<link>http://www.straightstocks.com/investing-lessons/imf-say-tunisia-is-prudent-and-strong/</link>
		<comments>http://www.straightstocks.com/investing-lessons/imf-say-tunisia-is-prudent-and-strong/#comments</comments>
		<pubDate>Wed, 01 Jul 2009 09:03:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-3383421746935709456</guid>
		<description><![CDATA[The IMF has just noted in a report the Tunisian economy’s resilience.  It said it reflects a strong posture of structural reforms and prudent fiscal and monetary policy stances. br /br /Tourism, remittances and FDI have held up far better than expected. In addition, reserves of USD 9 billion are considered high. The IMF predicts growth  of 3%div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-3383421746935709456?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/imf-say-tunisia-is-prudent-and-strong/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Samba Bank bleak on Saudi market for rest of 2009</title>
		<link>http://www.straightstocks.com/market-commentary/samba-bank-bleak-on-saudi-market-for-rest-of-2009/</link>
		<comments>http://www.straightstocks.com/market-commentary/samba-bank-bleak-on-saudi-market-for-rest-of-2009/#comments</comments>
		<pubDate>Tue, 30 Jun 2009 15:01:51 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Saudi Arabia]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Jeddah]]></category>
		<category><![CDATA[king]]></category>
		<category><![CDATA[Natural Gas]]></category>
		<category><![CDATA[non-oil sectors;]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Oil Prices]]></category>
		<category><![CDATA[Real Estate Market]]></category>
		<category><![CDATA[Red Sea;]]></category>
		<category><![CDATA[Riyadh]]></category>
		<category><![CDATA[Samba Bank]]></category>
		<category><![CDATA[The Macro Trader]]></category>
		<category><![CDATA[USD]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=808</guid>
		<description><![CDATA[Saudi Arabia&#8217;s Tadawul All-Share Index (TASI) has posted impressive returns YTD (up over 16%), but last week&#8217;s correction, coupled with a recent report issued by Riyadh-based Samba Bank&#8211;which warned that the recovery of oil prices to above $60/barrel and a forecasted 24% increase in government spending will not be adequate to offset a sharp slowdown [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=808&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/samba-bank-bleak-on-saudi-market-for-rest-of-2009/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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		<title>Analysts differ over Kenyan shilling</title>
		<link>http://www.straightstocks.com/market-commentary/analysts-differ-over-kenyan-shilling/</link>
		<comments>http://www.straightstocks.com/market-commentary/analysts-differ-over-kenyan-shilling/#comments</comments>
		<pubDate>Mon, 29 Jun 2009 05:11:18 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Absa Capital]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Central Bank of Kenya]]></category>
		<category><![CDATA[CFC Stanbic Bank]]></category>
		<category><![CDATA[Investment Bank]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Kenya]]></category>
		<category><![CDATA[Kenyan government]]></category>
		<category><![CDATA[TRADER]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=805</guid>
		<description><![CDATA[Differing projections emerged this week on the future fate of Kenya&#8217;s shilling, which has risen of late against the dollar thanks to heavy dollar selling from offshore accounts and healthy interest in Kenyan government bonds from foreign buyers.  On Friday the shilling traded 76.85/77.15 against the dollar after several weeks mired in a monotonous [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=805&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/analysts-differ-over-kenyan-shilling/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IMF chief highlights Tunisia’s relative resilience to global recession</title>
		<link>http://www.straightstocks.com/market-commentary/imf-chief-highlights-tunisia%e2%80%99s-relative-resilience-to-global-recession/</link>
		<comments>http://www.straightstocks.com/market-commentary/imf-chief-highlights-tunisia%e2%80%99s-relative-resilience-to-global-recession/#comments</comments>
		<pubDate>Sun, 28 Jun 2009 00:36:44 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[chief]]></category>
		<category><![CDATA[energy]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[Tunisia]]></category>
		<category><![CDATA[Tunisian mission]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=803</guid>
		<description><![CDATA[According to Joel Toujas-Bernat, the International Monetary Fund&#8217;s (IMF) Tunisian mission chief, Tunisia maintains a &#8220;relatively favorable position&#8221; to address the financial crisis.  In addition to the government&#8217;s historically &#8220;cautious&#8221; monetary policy, which created a buffer zone for public finances, Toujas-Bernat cited an anticipated &#8220;good performance&#8221; in agriculture and energy as the underpinning for the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=803&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/imf-chief-highlights-tunisia%e2%80%99s-relative-resilience-to-global-recession/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>On Uganda’s timber shortage</title>
		<link>http://www.straightstocks.com/market-commentary/on-uganda%e2%80%99s-timber-shortage/</link>
		<comments>http://www.straightstocks.com/market-commentary/on-uganda%e2%80%99s-timber-shortage/#comments</comments>
		<pubDate>Wed, 24 Jun 2009 19:33:22 +0000</pubDate>
		<dc:creator>Jason G. Wulterkens</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Allan Amumpe]]></category>
		<category><![CDATA[Australia]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[Commission of European Communities;]]></category>
		<category><![CDATA[Congo]]></category>
		<category><![CDATA[Financial Services]]></category>
		<category><![CDATA[jason g wulterkens]]></category>
		<category><![CDATA[MTN Uganda]]></category>
		<category><![CDATA[namely President]]></category>
		<category><![CDATA[National Forest Authority]]></category>
		<category><![CDATA[palm oil developers]]></category>
		<category><![CDATA[Secretary]]></category>
		<category><![CDATA[Sheila Katamara]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[SPGS project manager]]></category>
		<category><![CDATA[Stanbic Bank Uganda]]></category>
		<category><![CDATA[Tanzania]]></category>
		<category><![CDATA[Uganda]]></category>
		<category><![CDATA[Uganda Timber Growers Association]]></category>
		<category><![CDATA[Uganda Tree Growers’ Association]]></category>
		<category><![CDATA[Yoweri Museveni]]></category>

		<guid isPermaLink="false">http://frontiermarkets.wordpress.com/?p=799</guid>
		<description><![CDATA[Some markets which I would classify as &#8220;frontier&#8221; may be even too frontier to really invest in.  Uganda, for example, has only a dozen securities listed on its exchange, and typical volume is dominated largely by one of them—Stanbic Bank Uganda, whose market cap dwarfs that of any of the other country&#8217;s firms, and which [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=frontiermarkets.wordpress.com&#38;blog=3702668&#38;post=799&#38;subd=frontiermarkets&#38;ref=&#38;feed=1" />]]></description>
		<wfw:commentRss>http://www.straightstocks.com/market-commentary/on-uganda%e2%80%99s-timber-shortage/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Botswana cuts interest rates 150bps</title>
		<link>http://www.straightstocks.com/investing-lessons/botswana-cuts-interest-rates-150bps/</link>
		<comments>http://www.straightstocks.com/investing-lessons/botswana-cuts-interest-rates-150bps/#comments</comments>
		<pubDate>Wed, 24 Jun 2009 15:25:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-7622379450125555737</guid>
		<description><![CDATA[The Bank of Botswana reduced rates by 150bp to 11.5%. It is expected that inflation will maintain a downward trend. br /br /This is the third consecutive rate cut by the Monetary Policy Committee since rates topped, a total of 300bps.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-7622379450125555737?l=danfonds.blogspot.com' alt='' //div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/botswana-cuts-interest-rates-150bps/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Uganda&#8217;s National Insurance IPO</title>
		<link>http://www.straightstocks.com/investing-lessons/ugandas-national-insurance-ipo/</link>
		<comments>http://www.straightstocks.com/investing-lessons/ugandas-national-insurance-ipo/#comments</comments>
		<pubDate>Tue, 23 Jun 2009 12:33:00 +0000</pubDate>
		<dc:creator>Daniel Broby</dc:creator>
				<category><![CDATA[Frontier Markets]]></category>
		<category><![CDATA[Investing Lessons]]></category>
		<category><![CDATA[National Insurance IPO Uganda]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[Uganda]]></category>
		<category><![CDATA[Uganda Securities Exchange]]></category>
		<category><![CDATA[Uganda's National Insurance]]></category>

		<guid isPermaLink="false">tag:blogger.com,1999:blog-3742382075154765669.post-8585364637238558582</guid>
		<description><![CDATA[Uganda will sell a 40% government stake in Uganda's National Insurance in mid-July to list it on the Uganda Securities Exchange. In 2005, Uganda sold a 60% stake in the company to Nigeria's Industrial and General Insurance company.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3742382075154765669-8585364637238558582?l=danfonds.blogspot.com'//div]]></description>
		<wfw:commentRss>http://www.straightstocks.com/investing-lessons/ugandas-national-insurance-ipo/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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	</channel>
</rss>
