Monthly Archives: July 2015

Kazakhstan, Kyrgyzstan, Ukraine, and Lithuania Trip Report

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“Before the end of the spring semester, I couldn’t bear the thought of spending the three weeks between the end of my junior year and the start of my summer internship bumming around at home, so I took Google Flights to the task to find the furthest place I could get away from Pittsburgh at the lowest cost per mile.  The result? A four-country getaway and a story of a lifetime.”

http://www.flyertalk.com/forum/trip-reports/1689102-kazakhstan-kyrgyzstan-ukraine-lithuania-ukraine-international-airlines.html

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Islamic State mints its own ‘Islamic Dinar’ coins

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“Islamic State of Iraq and the Levant (Isil) has begun minting its own ‘Islamic dinar’ coins, Syrian activists claimed on Tuesday night. Pictures posted on social media showed a series of gold sovereigns bearing Isil inscriptions, and with a reported value of one gold dinar being with $139 (£89). Isil announced last November that it would start producing their own currency in areas under its control, in an effort to ’emancipate itself from the satanic global economic system’.  The currency, based on the original dinar coins used during the Caliphate of Uthman in 634 CE, was set to include seven minted coins: two gold, three silver and two copper.”

http://www.telegraph.co.uk/news/worldnews/islamic-state/11694838/Islamic-State-mints-its-own-Islamic-Dinar-coins.html

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Iran Receives 13 Tons of Gold in Sanctions Relief

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“The Islamic regime showed how the current sanctions regime has been unable to punish its economy as it repatriated 13 tons of gold this week.  Iranian officials on Monday announced the transfer by the South African government, which released the gold bullion as part of the sanctions relief agreed on in the November 2013 interim deal reached between world powers and Iran over the latter’s controversial nuclear program. By the newly extended July 7 deadline for a deal next week, Iran will have had nearly $12 billion in assets unfrozen over the course of nuclear talks. Indicating the failure of sanctions, Iran’s GDP grew 3% in 2014.”

http://www.israelnationalnews.com/News/News.aspx/197570#.VZYf7JvbIdW

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‘Portals’ Opens New Channel Between U.S. and Iran

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“I ‘visited’ Iran the other day, but didn’t need a visa or a plane ticket.  Through the magic of the Internet and sophisticated audiovisual technology, I chatted for 20 minutes with a young man in Tehran about the mood in society in anticipation of a historic nuclear agreement with the U.S. and five other nations. Instead of enduring a cramped overnight flight with a stopover in Europe en route, I stood inside an air-conditioned shipping container in Washington, D.C. plaza and faced a life-sized image of the young man, who was actually standing in a room in an art gallery in central Tehran. He saw an equally vivid image of me; the sensation was of being in a room together.”

http://www.huffingtonpost.com/barbara-slavin/portals-opens-new-channel_b_7653096.html

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Western Companies Look to Iran Opening for New Business

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“The end to Iran’s international isolation is attracting more than just energy firms. Carmakers, aircraft and tobacco producers also make the list of companies that analysts from Natixis Securities to Jefferies say may invest in the nation if the April 2 agreement with world powers results in an end to penalties over its nuclear program. While Total, BP, Royal Dutch Shell and Exxon Mobil all have assets and expertise that could be of use to Iran, holder of the world’s largest gas reserves and fourth- biggest oil reserves, there’s more to the $370 billion economy than hydrocarbons. The country’s 77 million consumers have been starved of most Western products for more than 10 years.”

http://www.businessweekme.com/Bloomberg/newsmid/190/newsid/586/Western-Companies-Look-to-Iran-Opening-for-New-Business

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Brunei Darussalam looks to a new stock bourse to diversify economy

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“Plans to launch a stock exchange in Brunei Darussalam by 2017 will bolster its capital markets in line with plans for regional market integration as well as aid the broader drive to diversify its economy away from dependence on oil and gas.  Brunei Darussalam and Myanmar are the last two Asean members without a stock exchange, but this is set to change shortly following Myanmar’s announcement that it intends to launch a bourse later this year.  Business leaders have welcomed the move, with around 12 major domestic firms potential candidates to list on the exchange.”

http://www.theborneopost.com/2015/07/04/brunei-darussalam-looks-to-a-new-bourse-to-diversify-economy/

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Myanmar’s MySQUAR social media startup raises $2.6m in London listing

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“MySQUAR, Myanmar’s only social media platform in the local language, has raised $2.6 million, at a valuation of $27.8 million, through an initial public offering on London’s Aim.  AIM is the London Stock Exchange’s international market for smaller growing companies.  MySQUAR said it would use the funds to expand its product line, moving into news, information, financial and payment services in the future to augment its social networking and gaming products.  By 2019, MySQUAR expects to capture and keep 30 per cent of Myanmar’s connected population continuing its rapid growth trajectory.”

http://www.mmtimes.com/index.php/business/technology/15359-local-tech-firm-lists-on-aim-stock-exchange.html

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October 2015 Debut of Yangon Stock Exchange Signals Greater Asean Integration

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“Myanmar’s Deputy Finance Minister, Maung Thein, has announced that the over-the-counter Myanmar Securities Exchange Centre (MSEC) will be replaced with the Yangon Stock Exchange in October 2015. So far, ten companies are expected to meet the criteria for initial listing on the exchange.  The Yangon Stock Exchange Joint Venture Co. is being developed in partnership with two Japanese firms, the Daiwa Institute of Research Ltd, which holds a 30.25 per cent stake, and the Japan Exchange Group, with an 18.75 per cent stake.”

http://www.establishmentpost.com/october-2015-debut-of-yangon-stock-exchange-signals-greater-asean-integration/

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Quality the priority over timing for Yangon Stock Exchange opening

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“There is still much to do before the Yangon Stock Exchange, Myanmar’s first modern bourse, opens. While KBZ has been selected as the settlement bank and Japan Exchange Group, Daiwa Securities’ information-gathering arm and state-owned Myanma Economic Bank have signed a joint venture agreement to establish the exchange, some critics say the pace of progress has been slow.  The underwriters, brokers, dealers and advisers for the exchange have not yet been selected. A total of 57 applications were received in April, though the winners will not be announced until June.  [The criteria] that companies must meet to list will be released as early as this week.”

http://www.mmtimes.com/index.php/business/14785-quality-the-priority-over-timing-for-yangon-exchange.html

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While the smart money is selling in the US, it’s buying emerging markets

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“Private equity (PE) firms are selling stocks at the fastest pace in history.  According to Bloomberg, PE firms have sold $73 billion of their holdings to the public so far this year. Like all investors, PE firms want to sell their investments at the best price possible. So they sell the most when they think the market is topping out. PE firms have access to information that the public doesn’t have.  So when they’re selling, it’s a bearish sign. The S&P 500 has now rallied 204% since bottoming in March 2009. And it hasn’t had a 10% correction in more than three years. Bridgewater Associates, the largest hedge fund on the planet, now has 60% of its portfolio invested in emerging markets (EM).”

https://www.caseyresearch.com/articles/the-smart-money-is-selling-everything-thats-not-nailed-down

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