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8 Ocak 2012 Pazar

World Financial Market Analysis - 30th December 2011


Last week of the year low volume all around the world and slowly begun risk. Weeks until the middle of going the markets for low-volume light owe on Wednesday, the balance sheet of the ECB to a record high experienced a sharp fall and negatively interpreted. Yesterday, Istanbul Stock Exchange (ISE) is quiet and low-volume ongoing from the United States exceed expectations "Pending Home Sales" data portrayed. And ISE-30 treatment sessions last 30 minutes of 0.5% of a loss but later it has increased by 1%. U.S. indices closed with 1 % raise. Because  the unemployment data is good and expectations for 2012. S&P500 becomes 1,263 points slightly smoothed-year performance. Asian stock markets which run on midnight it has influenced by the changing sentiment managed to break downtrend. Shanghai 1.19%, Nikkei 0.67%, while India BSE 0.60% above. Today the newly established Spanish government is going to explain economic austerity policy, German Finance Minister believes; euro zone resolve the crisis. Today there isn't important news from abroad but the most important domestic new is November balance of trade figure is going to telling us.

As news of the domestic company AKBANK General Manager Ziya Akkurt told they are going to open 60-70 branch office and announced plans to hire staff at around 1300-1600. Also in 2012, $ 1 billion, adding that only the capabilities of the energy market oriented placement. Also as expected Akkurt 2012, while waiting for 15% growth in loans, deposits, interest rates may drop said. ISCTR to PDP in a statement, the bank has no authority in Egypt GM on expansion of banking activities. GARAN, Proparco, on condition that the use of energy efficiency project financing of $ 50 million, 12-term loan agreement. Istanbul Stock Exchange (ISE) Chairman Hüseyin Erkan, On January 24, will take place next year, 13-14 Free Trading Platform and more then 30 offered to the public expects. Late in the night last 15 months lowest Euro/Dollar parity, Asian markets could this level of 1,294. Dolar / Turkish Lira parity record-breaing so it is 1.923 and from morning it is 1.915. Commodities sharp fall and then it recover fast. Brent, $ 108.2, Gold $ 1.561 and Silver $ 27.64 are trading.

Markets, the last day of the week throughout the course with a wavy ended the year as they did. European markets were consuming mostly. Spain will increase budget deficits next year as expected actually said. U.S. stock exchanges in the last trading day of the year there is a steady trend. Uncertainties in the markets in 2011. And new year also come suspense. In the U.S. economy is going better although the debt crisis in Europe will be affected, how much responsibility can actually important in solving the crisis in Germany. In 2011 U.S. Exchanges if you compare others markets these are performing quite high for years was one of the rare. Investable level stocks and bonds and the major central banks last week of the year the Fed used a record-level funding. European banks' liquidity needs are increasing, ECB overnight deposits pending more broke a new record yesterday. Market professionals, the Fed increasing the amount of funds actually used in Europe in the form of dollars, there is a need to interpret this. Next year, Europe's debt auctions FED is going to answer for European banks requirement dollars, in january and march, conclusions will be the Europen Union(EU) summits and growth in Asia will take place of interest concern. A stationary part of their day spent sailing ISE-30 index, sales fell hard from the second treatment sessions last half an hour. Day of the index decreased by 1.44% and it closed 61698 points. The most important news for today Center Bank of Turkey intervention in foreign currency. According to market estimates, the bank reached $ 2 billion in foreign exchange sales. Then declined to the levels of exchange rate 1.85 day of the intervention ended at 1.89. Thus the reference exchange rate value to be used in the balance sheets of the last quarter, despite the intervention was ascended, foreign exchange open position as this may reflect damage to companies around. The trade deficit to $ 7.5 billion in November. Increased exchange rate and declining domestic demand, export figures positive impact on the rate of increase slows down the increase in imports. Last week of the year, visible increase indicator so bond ended the day of the level of 11.48%.

5 Nisan 2011 Salı

This Time for Africa


Africa Era Begins


Africa's economy is entering a new phase with the beginning of the 2000s. The continent's economy grew 4.9% from 2000-2008. This is a record. This performance is obtained from the 1980-1990 period, more than 2 times. The population of 1 billion and rising household spending in Africa. For the global corporation this is new competitive market. Telecommunications, banking, retail, agriculture sectors, and oil, and underground sources are the most important and primary sectors.


1- How increased economy?

Increase in oil prices in the early 2000s and then African economies began to grow. Rising oil prices while economies share of states for political and economic reforms in the macro and micro balances economic has made great strides. Domestic turmoil prevented. Because political stability has to be for welfare. Also avoided the high inflation rates. External debt decreased and budget deficits has been minimized. Governments wanted to increase competition. Privatized state-based initiatives.
Trade barriers were reduced. Corporate tax was reduced and allows the formation of private enterprise. All these, African working class in the last 10 years productivity has increased 2.7%. Most importantly, Africa have become popular for global companies.


2- Why global companies are tending to Africa?

The most important reason for the oil and natural resources. Africa, provide 10 % oil demand and this continent provide 12 % natural gas demand all over the world. In addition the gas and natural gas, Africa  has got 40 % hydroelectric potential. Also, Africa is rich in minerals used in industry.
And these numbers are determine Africa: Large proportion of diamonds and chromium, 50% of gold,  90% of cobalt,  50% of phosphate.


3- Which dynamics are essential in the continents?

Africa had the disease and poverty. For the corporations Africa has got oil as well as they have got population power. Africa's population of 1 billion. This is mean: Huge market place. Now, Africa's population 40 % subsist with $ 1 a day. And, 60 % of spending $ 2 per day. These numbers are very low. But it will be increase. This is forecast and conjuncture. Consumption is rising and economies are rising economies. Production is most important for growth. Commodities and natural resources (diamonds, gold, copper, oil) are not enough. Infrastructure required for production. Infrastructures in African countries began to completion. Now, Africa does not have high inflation.
The foreign exchange markets aren't pose a problem. Finally, there is a young and dynamic population. This is increasing.


4- North, South, Central Africa

The dynamics of the Republic of South Africa, mainly in Africa with the countries of North Africa into Central and West Africa shows that the difference between sub-Saharan countries. For example, there is poverty in the Republic of South Africa, but income per capital of over $ 10 thousand. The continent's center for global companies. Currently there is political confusion. But investors previously discovered. The great competition for global companies: Nigeria, Ethiopia, Mozambique. In general, sub-Saharan regions.


5- Why sub-Saharan region?

This region is attractive in terms of the number of countries. There are 54 countries on the African continent. And there are 45 countries in this region. 80% of the total population in the sub-Saharan. In this region of Nigeria with a population of 145 million. The others 7 countries middle. They have got approximately 20 - 30 million population. And then 12 countries have got approximately 15 - 20 million population. The last 25 countries have got approximately 10 million population.
North Africa and sub-Saharan region have got many investment. Because it is cheap labor area.
Rich in raw materials but technology and industry are poor . The region, construction, textile, food, infrastructure and mining sectors, fruit processing have high potential. International investors are interested in this region.  Sub - Saharan region have high growth rates in the last 5 years. Consumption expenditure 860 billion dollars would be a good sign of the continent's future.


6- Which kinds of sectors in what there are opportunities?

You must  join the African market and the future of early predictive. After 2 years the market will be hard and difficult. Early time is great opportunity. There are shortcomings in each industry. Processed food, construction materials, plastic household goods, textile products and all of the material consumption. There are high demand products. Now, all the products on the market are imported. In the Africa, economy will be develop and requirement will be increase. For example, hospital and shopping center investments in high potential. Region is a major agricultural producer for the textile industry to make products more attractive to cost-effectively as possible.  Africa has lower production costs for many sectors, not only in textiles. For this reason,it is possible  to realize in a short time. And for the safari tourism this region is convenient. Wildlife tourism is great potential.


7- Banking Sector in Africa?

There is intense competition in the banking sector. Sub-Saharan region is leader for banking. Nigeria is the most powerful country in the Africa. Investments in branch, investment in ATM and payment systems...In the Africa many acquisitions happened. Chinese, ICBC bought 20 % to Standart Bank of South Africa.
Recently, In the Nigeria, Tanzania, Kenya, Ghana has been mergers in the banking sector and acquisitions. Banking continues to evolve. Bank rate of 10 % levels. Banks remote settlements and strict banking rules. The main issue banks provide loans for agricultural companies. Lebanon, Egypt and Libya to develop the banking sector.

8- Africa's developing long-term ?

African economy has been briskly economy for 10 years. Increase in the oil economy grew in 1970. Then the economy fell by a reduction in oil prices. Currently the development permanently. The world's oil reserves 10%, gold reserves 40 % in Africa. For the African trade the majority of oil and gold. 5 thousand of dollars in revenue over the next 10 years and 128 million households and in 2030, 18 the largest cities will spent 1.3 trillion. Such as China and India, Africa will consist of a middle class. 2040 is predicted  1.1 billion on increased labor. This is equal the China and India labor force. Gross national product will be 2.6 trillion dollars.

9- What are the opportunities for distribution and retail sector?

Africa's most live sectors of wholesale and retail sector. After the natural resources this sector has a 13% share from production. Saray Biscuits exports to Turkey from Africa. And the world's largest retail chain ‘’ Walmart ‘’ purchased South African retail chain ‘’ Massmart ‘’. This acquisition was 4.5 billion dollars.
Walmart purchase the Massmart. This is big business. Walmart began the market which have 13 the largest economy in Africa sub-Saharan countries.


10- How large is the market we are talking about?

Africa's Gross Domestic Product (GDP) of $ 1.6 trillion. Africa  has close-range to the size of the economy with the economies of Brazil and Russia. 860 billion dollars in consumer spending. It is few but it is about population. In 2020 Africa's  Gross Domestic Product (GDP) will be 2.6 trillion dollars. Consumption will rise to $ 1.4 trillion in spending. And the most important issue is workers number. In 2030 the people of Africa will live in cities. Household spending will increase and the middle class will emerge. One of the most important dynamics of the continent's agricultural sector.
There are currently producing an annual average of $ 280 billion. Production will be 880 billion dollars in 2030. If the size of the natural resources of $ 430 billion will rise to $ 540 billion in 2020.


Banking Sector

* Risks

- Weak economies
- Concentrated in specific areas of competition
- Complex enterprise infrastructures.
- There are political risks but it is not affecting financial institutions
- Open the branches in rural area. And insufficient number of ATMs
- Innovative non-operating systems
- Small and Medium Enterprises (SMEs) do not business with banks
- Lack of trained people
- Insufficient capital accumulation
- Weak institutional infrastructures
- There is insecurity

* Opportunities

- Weak competitive environment.
- Low investment costs
- Growing economies
- Increase the wealthy consumers
- Investments in technology
- Increase in trained workforce
- Positive developments in sub-structure
- Specializing in banking


Payment Systems

* Risks

- Dispersed structure of the sectors, dominated by the traditional layout
- Weakness of the institutional infrastructures
- Insufficient investments in technology
- Inadequate skilled work force
- Sensitive political structure
- Organized structure is poor

* Opportunities

- High potential
- Rising in consumer spending
- Increasing the urbanization
- Increased competition in the sector
- Development of institutional structures
- Emerging and growing markets
- Instant-return in the investments
- Weak technological infrastructure


Retail Sector

* Risks

- Weak institutional structures
- Low levels of education
- Lower consumer spending
- Dispersed to the supply chains
- Lack of strategy
- Sensitive political structure

* Opportunities

- High potential
- High profitability
- High rate of investment return
- Weak competition
- Young population
- Low cost


The largest 15 banks in sub-Saharan Africa Countries ($ million)

Bank NameManagement CenterActive AssetPre-tax Profit
Standart Bank GroupSouth Africa174.9203.523
FisrtRand Banking Group South Africa76.9012.010
NedBankSouth Africa71.4541.319
InvestecSouth Africa46.813835
IntercontinentalNigeria11.781377
Access BankNigeria10.055160
United Bank of AfricaNigeria9.979202
Oceanic BankNigeria8.265183
Zenith BankNigeria8.716202
First Bank of NigeriaNigeria6.885 192
Ecobank TransnationalTogo6.555191
Guaranty Trust BankNigeria6.225232
Union Bank of NigeriaNigeria5.460136
Mauritius Commercial BankMauritius3.47998
Platinum-Habib BankNigeria3.00181


      
         Africa will determine the future


Some of the Africa countries Population and Gross National Product (GNP)

* Tunisia
- Population: 10.3 Million
- Gross National Product (GNP): $ 8.385

* Libya
- Population: 6.4 Million
- Gross National Product (GNP): $ 18.214

* Egypt
- Population: 83 Million
- Gross National Product (GNP): $ 5.658

* Sudan
- Population: 43.2 Million
- Gross National Product (GNP): $ 2.264

* Ethiopia
- Population: 85.2 Million
- Gross National Product (GNP): $ 700

* Somalia
- Population: 9.8 Million
- Gross National Product (GNP): $ 600

* Rwanda
- Population: 10.4 Million

* Kenya
- Population: 39.8 Million
- Gross National Product (GNP): $ 1.596

* Tanzania
- Population: 40.3 Million
- Gross National Product (GNP): $ 1.545

* Mozambique
- Population: 1.6 Million
- Gross National Product (GNP): $ 352

* Madagascar
- Population: 21 Million
- Gross National Product (GNP): $ 276

* Republic of South Africa
- Population: 48.7 Million
- Gross National Product (GNP): $ 10.100

* Angola
- Population: 18 Million
- Gross National Product (GNP): $ 4.468

* Cameroon
- Population: 19.5 Million
- Gross National Product (GNP): $ 2.143

* Benin
- Population: 8.9 Million
- Gross National Product (GNP): $ 1.500

* Ghana
- Population: 23.8 Million
- Gross National Product (GNP): $ 1.533

* Senegal
- Population: 12.2 Million
- Gross National Product (GNP): $ 1.779

* Nigeria
- Population: 149.2 Million
- Gross National Product (GNP): $ 1.910


Which countries are the most investment?

CountriesBillions of Dollars
Nigeria20,3
Angola15,5
Egypt9,5
Republic of South Africa9,0
Libya4,1
Tunisia2,8
Algeria2,6
Congo2,6
Sudan2,6
Morocco2,4