Word: regionally
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Dates: during 1990-1999
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LATIN AMERICA. Michael Lindell, director of global-stock strategy for GT Asset Management, is bullish on the whole region. He expects a continued recovery from the 1994 peso crisis and believes the region is just starting a two- or three-year up-cycle, which will be fueled by corporate cost cutting. Brazil's Petrobras, an oil company, should be one beneficiary. He also likes paper-goods manufacturer Kimberly-Clark de Mexico and land developer IRSA in Argentina...
Just because it's getting easier to globe-trot with your stock portfolio doesn't mean you have to do it. But as long as you don't concentrate too much in any one region, it can't hurt much, and it might just help...
...year's net profit was $548 million, an increase of $19 million. The company's value is still intimately tied to its quasi monopoly of energy production and distribution across the country. Not only is Mosenergo the only electricity supplier to more than 16 million people in the Moscow region, but it furnishes more than 80% of their heat as well. The company owns 21 electric power stations, with a generation capacity of 14,690 MW. Demand for Mosenergo's services is unlikely to diminish anytime soon...
...award for best performance this year may belong to Latin America. In the wake of the 1994 Mexican-peso crisis, "the region has really bounced back in a remarkable way," says Nariman Behravesh, chief international economist for DRI/McGraw-Hill, an economic consulting company based in Lexington, Mass. In Mexico, between April and June, the economy surged 8.8% over the same period a year earlier. Growth is expected to hit 6% in 1997 and 4.8% in 1998. Inflation, which reached 34.4% in 1996, will be sliced in half by the end of next year. Brazil's economy will expand 4% this year...
...come into contact with the water have developed symptoms including skin rashes, respiratory problems and memory loss. The culprit appears to be an obscure microbe called Pfiesteria piscicida, which under certain circumstances turns toxic. Though the precise trigger remains unclear, suspicion has fallen on agricultural runoffs, particularly from the region's numerous chicken farms. In addition to closing waterways, Governor Parris Glendening has named a panel to investigate the runoff problem and has called a summit of Governors from surrounding states to consider regional solutions...