HSBC Holdings Plc, which gets more than half of its revenue from emerging markets, says it’s time to start buying their currencies after a selloff pushed exchange rates to their lowest levels since 2009.
Nigeria’s plan to rebase its gross domestic production figures next year may boost the assessment of the size of its economy by as much as 60 percent, leapfrogging South Africa as the continent’s largest nation in terms of total wealth, Renaissance Capital Ltd. said.
The euro has lost its allure for nations in central and Eastern Europe with floating currencies as their borrowing costs fell below those in some euro region states because of the Greek crisis, said ING Groep NV.
Russian stocks rose to the highest level this year as Goldman Sachs Group Inc. said equities are its “preferred asset” in the nation, offsetting concern China’s slowing growth may crimp commodity demand.
Poland’s economy may grow 2 percent next year, half the government’s forecast, as western European banks hurt by the euro crisis curb lending and slower global growth damps demand for exports, Renaissance Capital said.
Turkey paid its last loan installment to the International Monetary Fund after a 52-year relationship, a triumph for Prime Minister Recep Tayyip Erdogan as government debt falls even as private borrowing surges.