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 ‘buy’ rating to Skye Bank last month and named it the ‘fastest growing tier-two Nigerian bank’. Of note, analysts remarked on the bank’s leading role in retail public sector collections for federal and state governments and tax authorities, as well as utilities, customs agencies, commercial subscriptions, regulatory institutions and examination bodies. Moreover, as noted earlier this year by RTC Capital, it is a “dominant player in Lagos state, Nigeria’s largest revenue collecting state. [And] with increased focus on diversifying revenue away from

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CNOOC Ltd. (NYSE ADR: CEO) …

It looks like the unfortunately named joint venture between Nigeria and Gazprom is still causing some problems.  Luke Harding as a piece taking a look at all the reactions, while I found this eyebrow-raising quote at the bottom of a Reuter's piece:"White people are making too much of this. As long as the Russians pay us, they can call it what they like," said one Nigerian in the commercial hub, Lagos, asking not to be named.Problem is, I wouldn't count on that Russian money arriving any time soon.  They make this promise about once a year.

by Manuel Alvarez-Rivera, Puerto RicoFor many countries in Latin America, the wave of democratization that swept the region during the 1980s offered yet another opportunity to establish constitutional arrangements that had proved to be short-lived on many previous occasions. However, for Chile the restoration of democracy in 1990 was the continuation - after an authoritarian parenthesis of seventeen years - of a long and proud tradition of constitutional rule that had been the norm throughout most of the 140 years prior to 1973, when a right-wing military coup overthrew the democratically elected but militantly Marxist government of President Salvador Allende Gossens.Nonetheless, Chile's transition to democracy was an obstacle race of sorts. Following a less-than-transparent 1980 referendum, the armed forces were able to impose not only a restrictive constitution that would remain in force after they left power, but also a timetable for the transition to civilian ...

What a wild day it was today. I published one Red-Hot Global Small Caps issue, one Red-Hot Commodity ETFs issue, and two Red-Hot Canadian Small-Caps Issues -- all of them trading issues. I also put out another update for my most recent oil report. So, I didn't have time to blog until the trading day ended. Here's what caught my eye today ...GOLDGold, Precious Metals Fall in New York as Investors Sell to Raise Cash Gold fell as investors sold commodities to raise cash and cover losses in other markets. Silver fell a two-year low and platinum dropped the most since at least 1986.

CRUDE OILOil at 7-month low on Wall Street woesOil prices settled at a seven-month low Tuesday as the meltdown on Wall Street pulled the oil market's focus to the economic slowdown that has already been

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The Independent Tuesday, 1 July 2008 Bankers were thought to be facing tough times after the credit crunch. But in Moscow, where business is booming, Brits are being attracted by soaring salaries. By Jason Corcoran and Nick ClarkIt has been a very good year to be Russian. The national football team sparkled at Euro 2008, it secured the unrivalled musical accolade of winning the Eurovision Song Contest, and while the markets around the world disintegrate, its own economy has continued to boom.Soaring consumer spending, oil past $140 a barrel, record numbers of mergers and acquisitions (M&A) and a high growth rate means the financial focus is firmly on Russia in 2008.Investment bankers in the West are charging to Moscow to cash in on the rise of lucrative takeover deals, as London and New York have increasingly become graveyards for the ...

Financial News Jason Corcoran in Moscow and Tara Loader Wilkinson23 June 2008 Russian investment bank Renaissance Capital has more than doubled its workforce over the past 18 months and is still hiring, while many of its rivals have been cutting jobs to save costs.Staff numbers at the bank, which specialises in emerging markets including Russia and sub-Saharan Africa, have grown from 500 at the start of last year to about 1,200 as of last week. The bank said: “We have identified huge opportunities to create value in a range of frontier markets around the world, and that has led us to recruit talented people to pursue those opportunities and meet our aggressive targets. We have grown rapidly in the past year or two, against a backdrop of downsizing by many of our competitors.” The bank is opening a ...

Financial News Jason Corcoran in Moscow and Tara Loader Wilkinson23 June 2008 Russian investment bank Renaissance Capital has more than doubled its workforce over the past 18 months and is still hiring, while many of its rivals have been cutting jobs to save costs.Staff numbers at the bank, which specialises in emerging markets including Russia and sub-Saharan Africa, have grown from 500 at the start of last year to about 1,200 as of last week. The bank said: “We have identified huge opportunities to create value in a range of frontier markets around the world, and that has led us to recruit talented people to pursue those opportunities and meet our aggressive targets. We have grown rapidly in the past year or two, against a backdrop of downsizing by many of our competitors.” The bank is opening a ...