Emerging Economies | August 18, 2017 |
Dear Subscribers,
Here is another weekly digest on Emerging Markets, highlighting startup trends of various emerging market economies and technology trends in South Asia (India, Pakistan), Central Asia (Kazakhstan), Middles East (Saudi Arabia, Kuwait), Latin America (Mexico) and South America (Argentina).
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| | By Stephen Woodman - Financial Times Six in 10 Mexicans are unbanked. Financial exclusion is a problem but also an opportunity. Start-ups are providing financial services for the previously unbanked. Financial technology startups could capture 30% of Mexico's banking market within 10 years. More than 150 fintech, or financial technology, firms now operate in Mexico, giving Mexico 35% of fintech companies serving the under- and un-banked in Latin America. | | By Maryam Dodhy - Techjuice.pk Pakistan's IT exports have hit an all-time high in the outgoing financial year of 2016-2017. The country is witnessing a growth boom in the IT industry like never before and the government is also taking steps to support the IT infrastructure. And the numbers prove that the positive activity in the IT industry is delivering good results. If Pakistan's IT industry keeps thriving at this rate, it certainly rings good news for the country's economy. Could Pakistan hit the target of $6 billion software exports by 2020 or the target of $10 billion IT exports by 2025? | | Bdaily Member, Anand - Bdaily Nurali Aliyev, Chairman of Capital Holding is supporting IT startups in Kazakhstan through a Charity Foundation called "Zhanartu". The Private Charity fund which means renewal in Kazakhstan, has been established by Nurali Aliyev and his wife Aida Aliyeva is focused on promoting entrepreneurs to take part in the IT development of the country. The Astana-based Charity Fund which is supporting IT Talent in Kazakhstan works. | | By Benedict Mander - Financial Times Peso sinks to record lows while stocks dive more than 5% in wake of index decision. Argentina failed to win back its status as an emerging market in the influential MSCI benchmark equity index, triggering a sell-off in Argentine equities. Argentina's Merval stock index dived by more than 5 per cent in early trading on Wednesday, after more than doubling since President Mauricio Macri took office 18 months ago, largely in anticipation of an upgrade from its current status as a frontier market. | | Case Study, by Bonds & Loans Kuwait maintained GCC sovereign mega-bond momentum, tapping the markets for an aggregate of US$8bn in the biggest ever EM dual-tranche issuance. Kuwait's debut on global debt capital markets marks the biggest CEEMEA transaction this year to date. | | By Mahmoud Kassem - The National AE There is a good chance that both Saudi Arabia and Kuwait will both be upgraded to emerging market status by the index provider FTSE as early as September because of reforms undertaken in both countries by market regulators, according to the Egyptian investment bank EFG-Hermes. "We see a strong chance of an upgrade for Kuwait and Saudi Arabia," said Mohamad Al Hajj and Simon Kitchen, analysts at the bank. "We believe Kuwait returns could be stronger as it is the least anticipated of the two, and we are overweight on Kuwait and underweight on Saudi Arabia." | | Alyssa Ayres - Forbes contributor As India celebrates its 70th year of independence from the British on August 15, the press has been filled with retrospectives asking the usual decennial question: Has India succeeded or has it failed? The Financial Times' data-driven package illustrated in charts the progress India has made since 1947, but also its shortfalls. At independence, for example, the Indian economy was just 15% the size of the U.S. economy; today it's about half as large if measured in terms of purchasing power parity. Yet, despite these gains, Indian gross domestic product (GDP) in per capita terms remains only around 10% that of the United States. | |
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