Boost for Brazil’s Building Boom
EDC recently created an innovative US$200 million bond reinsurance facility for Brazil’s Odebrecht S.A., a global group of diversified businesses.
“Odebrecht is a key player in Latin American infrastructure, and this facility provides them with increased bonding capacity… to secure and manage their contracts more efficiently,” said Jean Cardyn, EDC’s Regional Vice-President, South America.
“As a partner, EDC helps strengthen Odebrecht’s relationships with Canadian suppliers—both those in its current supply chain and those looking to work with this Brazilian multinational.”
Who Will Dominate World Trade?
The World Trade Organization (WTO) sees EU-U.S. trade domination shifting by 2035 in favour of China and India.
While the United States and Europe will remain dominant players in world trade over the next two decades, the real question, says the WTO in its 2013 trade report, is how much ground they cede to rising economies like China.
Under good economic conditions, China could increase its export share of manufactured goods to almost a quarter of global trade by 2035 while India’s could more than double, to five per cent. www.wto.org
Chinese Visit their Top FDI-Out Market: Canada
One of the largest gatherings in Canada of Chinese and Canadian investment and business leaders—some 150 delegates—met in Calgary this past summer to discuss how to increase investment from China into Canada’s large cities.
In 2012, according to a KPMG report this year, Canada bumped Australia to become the lead country for Chinese outward-bound foreign direct investment (FDI). www.considercanada.com
Conflict Minerals Impact Mining
A recent PwC survey of some 900 companies sheds light on the level of industry understanding and potential hurdles of the new U.S. conflict minerals rule soon to take effect.
By next spring (May 31, 2014), public companies will have to comply with the U.S. Securities and Exchange Commission (SEC) Dodd-Frank mandated Conflict Minerals Rule (Section 1502). It requires SEC registrants to publicly disclose their use of conflict minerals—tantalum, tin, tungsten and gold (3TG) originating in the Democratic Republic of the Congo or adjoining countries—to help reduce human rights violations.
The SEC estimates that Section 1502 will directly impact at least 6,000 registrants—and, indirectly, some 275,000 other companies—likely including Canadian mining producers and suppliers. The 3TG minerals are found in products ranging from cell phones and computers to jewellery and golf clubs. www.pwc.com