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Financial Times
beyondbrics



New York headlines

* Kazakhmys falls on ENRC writedown

* Myanmar to resume rice exports to Japan

* Nicosia pledges 'temporary' capital curb

* Former Zambia president Banda arrested

* Russians seek ways to beat Cyprus curbs

* Brics will promote state-led development at Durban summit

* Cambodian garment industry begins to fray

* JPMorgan upbeat on Indian activity

* Israel to resume tax funds to Palestinians

* China pledges more investments to Africa

* Libya set to transfer $2bn to Egypt

Markets: mixed

Kazakhmys falls on ENRC writedown
Kazakhmys has been plunged into a $2.2bn annual pre-tax loss after the copper miner was obliged to take a hefty writedown on the value of its stake in fellow London-listed natural resources group ENRC.
http://on.ft.com/11GCqYK

Myanmar to resume rice exports to Japan
Myanmar will resume exports of rice to Japan after a 45-year hiatus, marking a milestone in trade relations between the former military dictatorship and Tokyo.
http://on.ft.com/YQJ6Qg

Nicosia pledges 'temporary' capital curb
The Cypriot government said it was imposing "very temporary" capital controls to prevent a sudden outflow of money from its banks which will begin to reopen on Tuesday.
http://on.ft.com/11GDlIz

Former Zambia president Banda arrested
Zambia officially charged former president Rupiah Banda for abuse of authority over a Nigerian oil deal, a government spokeswoman said on Monday.
http://on.ft.com/Zo6zbH

Russians seek ways to beat Cyprus curbs
With most banks in Cyprus due to reopen on Thursday, the island's many Russian depositors are scheming ways to beat the looming limits on withdrawals and money transfers designed to stem a run on the banks.
http://on.ft.com/11F3nMt

Brics will promote state-led development at Durban summit
The Beijing Consensus – a synonym for China's growth model – may be something of a mirage for Africa considering the very different set of developmental circumstances of most African states.
http://on.ft.com/ZONVwP

Cambodian garment industry begins to fray
If Cambodia is anything to go by, physical size and a population of just 15m are immaterial when it comes to a successful garment manufacturing industry.
http://on.ft.com/16TrAm3

JPMorgan upbeat on Indian activity
Foreign banks in India are set to enjoy a rare boost in capital market activity this year, as domestic companies raise fresh funds to restructure finances and repair balance sheets, JPMorgan's country head has said.
http://on.ft.com/YCOhV0

Israel to resume tax funds to Palestinians
Israel said it would resume the transfer of tax funds to the Palestinian Authority in response to requests from the US, three days after President Barack Obama concluded a visit to the region.
http://on.ft.com/Zo6JQe

China pledges more investments to Africa
Chinese President Xi Jinping defended China's role in Africa and promised increased investment during his first overseas trip as head of state, countering growing criticisms from African officials who say China's role is "predatory" with echoes of colonialism.
http://on.ft.com/X2XWrF

Libya set to transfer $2bn to Egypt
Libya is to give cash-strapped Egypt $2bn and speed up visas for thousands of labourers seeking to work in the oil-rich country, said Egyptian and Libyan officials on Monday.
http://on.ft.com/14pSpyQ

Emerging Markets
MSCI Emerging Market Index up +0.29% at 1,025

Europe
FTSE up +0.17% at 6,389
RTS down -0.59% at 1,450
Warsaw Wig down -0.09% at 44,546
FTSE 300 Eurotop up +0.16% at 1,188

Americas
DJIA down -0.44% at 14,448
S&P 500 down -0.33% at 1,552
Bovespa unchanged 0.00% at 54,873

Asia
Nikkei 225 down -0.60% at 12,472
Topix down -0.27% at 1,044
Hang Seng up +0.27% at 22,311
Shanghai Composite down -1.25% at 2,298
MSCI Asia ex-Japan up +0.36% at 470.54
S&P CNX Nifty Index up +0.14% at 5,642

Currencies
€/$ 1.29 (1.29)
$/¥ 94.36 (94.15)

Commodities
Brent Crude (ICE) up +0.17 at 108.34
Light Crude (Nymex) up +0.76 at 95.57
100 Oz Gold (Comex) unchanged 0.00 at 1,605

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