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Global Economic Overview: February 2011

Tue, 08 Feb 2011 19:00:00 +0000

Global Overview Global growth optimism rises as the developed world rebounds The outlook for the global economy has improved further as some of the developed countries appear to be regaining their growth momentum earlier than expected. While the larger emerging economies are likely to continue to drive global growth this year, the better prospects for the developed world have made forecasters more optimistic. Compared to its earlier forecast of 4.2%, the IMF now expects the global economy to expand 4.4% this year, and by 4.5% in 2012. Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Global Players Wayne Swan, Deputy Prime Minister and Treasurer, Australia Australia's Deputy Prime Minister and Federal Treasurer, Wayne Swan, is working on rebuilding the infrastructure and property that has been damaged in the Queensland floods. Read more Monthly Economic Reviews Europe Tensions surrounding Europe lessened in January as strong economic data from Germany lifted sentiments and successful government bond auctions reduced concerns about the immediate funding requirements of countries such as Spain and Portugal. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein. It should not be assumed that any investment will be profitable or will equal the performance of any security mentioned herein. Thomas White International, Ltd. may, from time to time, have a position or interest in, or may buy, sell or otherwise transact in, or with respect to, a particular security, issuer or market on our own behalf o[...]



Emerging Leaders: Juan Manuel Santos, President, Colombia

Tue, 08 Feb 2011 17:59:00 +0000

February 08, 2011 Emerging Leaders Juan Manuel Santos, President, Colombia The leader of every country wishes for peace. Yet, very few are able to take successful¬ steps towards achieving it. Except perhaps for Juan Manuel Santos, the President of Colombia. Since winning the elections in June 2010, Santos is enjoying consistently high popularity due to his firm measures to maintain peace and economic stability in a land long haunted by the deadly Revolutionary Armed Forces of Colombia, better known as FARC.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Postcards Colombia The Colombian stock exchange has announced that it is planning a corporate merger with Bolsa de Valores de Lima in Peru. Read more Monthly Economic Reviews Americas The Americas region continues to enjoy rising optimism about the economic outlook for the current year, helped by sustained domestic demand growth and strong commodity prices. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein. It should not be assumed that any investment will be profitable or will equal the performance of any security mentioned herein. Thomas White International, Ltd. may, from time to time, have a position or interest in, or may buy, sell or otherwise transact in, or with respect to, a particular security, issuer or market on our own behalf or on behalf of a client [...]



Regional Economic Reviews: January 2011

Mon, 07 Feb 2011 19:00:00 +0000

Economic Reviews - January 2011 Europe The tensions surrounding Europe appeared to lessen in intensity during the first month of the new year, as a spate of strong economic data from Germany lifted sentiments and successful government bond auctions reduced concerns about the immediate funding requirements of countries such as Spain and Portugal. Read more     Asia Pacific In its Global Economic Prospects for 2011, the World Bank has forecasted that it expects global growth to slow to 3.3% this year. The bank confirmed recent trends indicating that developing economies, powered by growing domestic demand, are leading the global economic recovery. Read more   Americas The Americas region continues to enjoy rising optimism about the economic outlook for the current year, helped by sustained domestic demand growth and strong commodity prices.   Read more   Middle East & Africa Global businesses have regained faith in the Middle East, according to a study by accountancy firm PriceWaterhouse Coopers. In its annual "Global CEO Survey," the firm said that the Middle East was preferred by 70% of all CEOs, and was ranked fourth for growth worldwide. Read more P[...]



Colombia Postcard: Peru and Colombian Stock Exchanges Plan Merger

Fri, 04 Feb 2011 14:02:00 +0000

February 4, 2011 A Postcard from the Americas Colombia: Peru and Colombian Stock Exchanges Plan Merger Colombia and Peru have planned Latin America's first corporate stock exchange merger. Consulting firm Economatica estimates that Bolsa de Valores de Colombia, the premier stock exchange in Colombia, has enjoyed a staggering growth of 927.9% in the last decade, more than any other country in Latin America. So when the Colombian bourse announced that it was planning a corporate merger with Bolsa de Valores de Lima in Peru, eyebrows were raised. The union not only offers the opportunity for the creation of a regional superpower exchange, but has been quickly billed as the 'first-ever cross-border' stock market fusion in Latin America. The proposed merger should not be confused with the pending project called Integrated Latin American Market (MILA) that will integrate the Colombian, Peruvian and Chilean exchanges, and will take off in November this year. Rather, this corporate stock exchange merger creates a new company boasting a total market capitalization of $378 million, with the Bolsa de Valores de Colombia owning a 64% share and Lima holding the 36% balance. Explaining the rationale behind the move, the stock exchanges from both countries said that the merger would create a new, competitive exchange that can "face the challenges of globalized capital markets." There are other benefits touted. Francis Stenning, the general director of Lima's exchange, told the Wall Street Journal that the fusion would generate a 'strategic alignment and help complement market integration.' Crucially, the move could prove of immense value to both Peru and Colombia – emerging markets that are expected to drive growth in the Latin American region. A larger and more diverse capital market is the most obvious result of the merger, and should mark a huge step in taking Peru and Colombia up to the next rung on the ladder of economic and financial superstardom, especially in a region dominated by heavyweights like Brazil and Chile. Of course, the new stock exchange would still be dwarfed by MILA, which is set to combine the stocks of more than 560 companies, if and when it becomes operational. That project has run into delays and difficulties, and Stenning admitted to Reuters that the test run for this 'big, complex project,' has been extended by six weeks to allow for such eventualities. However, full integration for MILA is expected by the end of 2011. Now, questions will be raised if the Peru-Colombia venture could also run into the same difficulties. The move first needs to be approved by the boards of both exchanges as well as financial regulators. The technology that would allow such cross-listing of stocks needs to be in place. But despite these hurdles, implementation of the corporate merger is expected as early as March, and in effect will test the waters for the MILA launch. The bottom-line though is that such mergers create exciting times for a region that is already attracting heavy foreign investment. Latin's America's amazing growth story appears set for new beginnings. And fusion stock exchanges could well drive the trend this year. Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the[...]



Green Report: Cutting Carbon Emissions with Coal-to-Ethanol Technology

Wed, 02 Feb 2011 17:59:00 +0000

FEBRUARY 02, 2011 Cutting Carbon Emissions with Coal-to-Ethanol Technology   The Green Report Coal has never been a friend to environmentalists, branded as the most polluting and unhealthiest fossil fuel. But now, the lowly coal nugget has a chance to redeem itself. Celanese, a Dallas-based chemical producer, has patented a technology that converts coal into industrial ethanol. Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Postcards Israel The newly discovered offshore oil and natural gas field, Leviathan, has the potential to empower Israel in the Middle East region. Read more Global Players Wayne Swan, Deputy Prime Minister and Treasurer, Australia Australia's Deputy Prime Minister and Federal Treasurer, Wayne Swan, is working on rebuilding the infrastructure and property that has been damaged in the Queensland floods. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a r[...]



BRIC Spotlight: Consumer Goods Sector in Russia

Tue, 01 Feb 2011 19:00:00 +0000

BRIC Spotlight Report Consumer goods sector in Russia: Winds of change Russia has long been known as major resource exporter. Justifiably so, as the oil and natural gas sector contributes a lion's share of the country's exports and makes up a majority of its gross domestic product. Yet Russia has never been thought of as a nation of spenders, especially given its past crusades against capitalism. But some interesting statistics and a flurry of recent M&A deals in consumer-oriented sectors in the country would tell a different story. Russia, with a population of 142 million, is the largest consumer market in Central and Eastern Europe. What's more, Moscow pips London as the largest city in Europe. Read more Please visit our web site at www.thomaswhite.com to learn more about over 49 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Country Profiles Russia  Updated Though Russia's GDP growth rate trails the other BRIC economies, the second half of 2010 brought some cheer. The Russian government, realizing the need to improve investor perceptions about doing business in the country, announced a $32-billion privatization of state-run assets beginning in 2011. Read more Global Players Wayne Swan, Deputy Prime Minister and Treasurer, Australia New Australia's Deputy Prime Minister and Federal Treasurer, Wayne Swan, is working on rebuilding the infrastructure and property that has been damaged in the Queensland floods. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein[...]



Global Players: Wayne Swan

Tue, 01 Feb 2011 15:31:00 +0000

February 1, 2011 Global Players Wayne Swan, Deputy Prime Minister and Treasurer, Australia Australia started reeling under a series of floods in December 2010, with the floodwaters yet to recede from Brisbane, the capital of the worst hit state of Queensland. Since then, Australia's Deputy Prime Minister and Federal Treasurer Wayne Swan has found himself in the midst of a crisis situation and is now undertaking the Herculean task of rebuilding the infrastructure and property that has been damaged. After all, Queensland is in his blood.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Weekly Postcards Israel The newly discovered offshore oil and natural gas field, Leviathan, has the potential to empower Israel in the Middle East region. Read more Monthly Economic Reviews Asia Pacific In its Global Economic Prospects for 2011, the World Bank has forecasted that it expects global growth to slow to 3.3% this year. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein. It should not be assumed that any investment will be profitable or will equal the performance of any security mentioned herein. Thomas White International, Ltd. may, from time to time, have a position or interest in, or may buy, sell or otherwise transact in, or with respect to, a pa[...]



Israel Postcard: Leviathan Natural Gas Field

Thu, 27 Jan 2011 16:01:00 +0000

January 27, 2011 A Postcard from the Middle East Israel: Newly Discovered Offshore Gas Field Changes Energy Equation The Leviathan well reached the first oil-bearing target strata at a depth of 5,800 meters during first week of January, 2011. Israel seems to be living up to its reputation of being the land of milk and honey. Long known for its lush agricultural produce from arid soils, Israel has recently discovered extensive reserves of natural gas and oil around 80 miles off its northern coast. The Leviathan offshore gas field, named after the mythical sea serpent of Hebrew mythology, is the world's biggest deepwater natural gas discovery in a decade with an estimated 16 trillion cubic feet of gas reserves. And with tests revealing that there could be an additional 4 billion barrel cache of oil beneath the underwater gas field, the stakes are high. Could Israel be transformed from a country dependent on oil producing nations for energy to an energy exporter? If yes, the scenario could lead to a repositioning of the geo-political chess pieces in the Middle East. Until now, Israel has been importing nearly all of its oil from Egypt, Norway, the United Kingdom, West Africa and Mexico. So Leviathan has the potential to empower Israel in the region. In fact, Israel's hostile neighbors, like Iran and Lebanon are already lining up to counter Israel's newfound advantage, and stake a claim of the bounty. Nabih Berri, the speaker of Lebanon's parliament and Hashem Safieddine, executive council chief of the Islamic movement Hezbollah, told international media that, in fact, part of Leviathan belongs to Lebanon and not Israel. Tehran's ambassador to Lebanon, Qazanfar Roknabadi has gone so far as to claim that three-quarters of the Leviathan field belongs to Lebanon. Uzi Landau, the Israeli infrastructure minister, responded that Israel has the rights to the maritime area where the field is located, and warned Lebanon that Israel will not hesitate to use force to protect its mineral rights. There have also been issues between the Israeli government, and the companies owning the drilling rights for Leviathan, namely Delek Group Ltd., Noble Energy, Inc., and Ratio Oil Exploration. With the energy leases and the tax regime unchanged since the 1950s, the Israel government is up against a road block when it comes to profiting from the gas find. Finance Minister Yuval Steinitz said he was considering changing terms retroactively, which means the Israeli government could enjoy better terms on previously assigned leases. Noble Energy and Israeli oil executives have been lobbying against such changes. Israeli Prime Minister Benjamin Netanyahu has since declared that Israel is sovereign, and is free to change its tax regime. When it comes to heated drama, the Middle East does not fail to disappoint. The drilling of Leviathan commenced in October 2010. But last year's Gulf of Mexico oil spill has ignited concerns over deep sea drilling, not only within the environmentalist community, but also among the ranks of energy companies and governments. This includes the Israeli Minister of Environmental Protection, Gilad Erdan, who is advocating legislation to manage environmental aspects of offshore oil exploration. That said, Leviathan has certainly stirred up enthusiasm not only over the strategic implications of this energy discovery, [...]



Emerging Leaders: Yuri Milner, CEO, DST

Tue, 25 Jan 2011 19:00:00 +0000

January 25, 2011 Emerging Leaders Yuri Milner, CEO, DST Yuri Milner is the CEO of Digital Sky Technologies (DST), an investment firm based in Russia. But these days, he is more often known as the "Russian who invested in Facebook." Indeed, Milner created waves in the tech world in 2009 when he first purchased a 2% stake worth $200 million in the social networking company. With a sole focus on investing in the Internet, he now owns interests in various companies that are fast transforming into the new stars of cyberspace.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Postcards Philippines A new call center capital of world has emerged. Move over Bangalore, and welcome Manila as the Philippines outsourcing industry soars to new heights. Read more Green Reports Storing the Sun's Energy with CSP In the world of clean technology, particularly solar energy, emerging expertise is ensuring that the sun's munificence continues through the night with the help of CSP. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein. It should not be assumed that any investment will be profitable or will equal the performance of any security mentioned herein. Thomas White International, [...]



Fund Fact Sheets: Q4 2010

Tue, 25 Jan 2011 18:00:00 +0000

Quarterly Fund Fact Sheets Fund Fact Sheets for the quarter ending December 31, 2010, are now available on our website. Please follow the links given below to download the PDF files. Thomas White International Fund (TWWDX) Thomas White Emerging Markets Fund (TWEMX) Thomas White American Opportunities Fund (TWAOX) Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Emerging Leaders Yuri Milner, CEO, DST Yuri Milner is the CEO of Digital Sky Technologies (DST), an investment firm based in Russia. But these days, he is more often known as the "Russian who invested in Facebook." Read more Weekly Postcards Philippines A new call center capital of world has emerged. Move over Bangalore, and welcome Manila as the Philippines outsourcing industry soars to new heights. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein. It should not be assumed that any investment will be profitable or will equal the performance of any security mentioned herein. Thomas White International, Ltd. may, from time to time, have a position or interest in, or may buy, sell or otherwise transact in, or with respect to, a particular security, issuer or market on our own behalf or on behalf of a client account. © Thomas White International, Ltd. 2011 [...]



Philippines Postcard: New Call Center Capital of the World

Fri, 21 Jan 2011 15:01:00 +0000

January 21, 2011 A Postcard from the Asia Pacific Philippines: New Call Center Capital of the World The "Sunshine Industry" is set to soar to new heights. Major call centers in the Philippines are situated in Metro Manila and Cebu City. For so long now, call centers have mushroomed all over India's premier IT city, and Bangalore has been considered the undisputed call center capital of the world. So much so that being 'Bangalored,' a term used to describe a layoff, has become a part of standard usage. However, despite India's pre-eminent status as a back office processing (BPO) giant, there's a new kid on the block. A new call center capital of world has emerged. Move over Bangalore, and welcome Manila. In a recent report by the Everest Group, it is now forecasted that Philippine call center revenues in 2010 will touch $5.5 billion, exceeding India's own expected revenues of $5.3 billion. The call center industry has grown to be one of the largest in the Philippines, employing around 530,000 people and contributing 6% to the country's gross domestic industry. With 788 call centers spread over 20 locations in the Philippines, the outsourcing industry has been fondly named the 'sunshine industry,' by the government, which is thrilled by the rapid progress the sector has made over the past decade. And this is a government which has done its best to encourage the outsourcing industry, recognizing early on that it is a key driver of growth and employment. While tax breaks given to outsourcing companies are set to expire this year in India, the Philippine government is getting its ducks in line. It has assured investors of faster clearances for building permits, has instituted selective tax breaks such as an exemption from import duties on computers, and has created a number of special economic zones with superior infrastructure. In contrast, Indian call center companies have typically had to struggle with high attrition rates and have been plagued by chronic power shortages, as well as suspect infrastructure. Also favoring the Philippines, Filipinos have had a natural cultural affiliation with America, ruled as they were by the U.S. from 1905 to 1945. Unsurprisingly, the call center industry in the Philippines is still dominated by clients in North America. Still, the Philippines is not resting on its laurels. It has larger plans. India's outsourcing sector evolved from being a call centered industry to one that handles more sophisticated back office processes. As a result, India continues to be number one in overall outsourcing revenues, and it is that bigger chunk that the Philippines is targeting, aiming to double its outsourcing revenue by 2015. There are challenges – the country does not have as many trained engineers and managers such as India, which has been able to use that advantage to transform its BPO industry. For now though, call centers are a short-term answer to unemployment problems in the Philippines, with the industry to add 70,000 jobs this year alone. And an immense source of Filipino pride. Please visit our web site at www.thomaswhite.co[...]



Green Report: Storing the Sun’s Energy with CSP

Wed, 19 Jan 2011 18:00:00 +0000

JANUARY 19, 2011 Storing the Sun's Energy with CSP   The Green Report Making days last forever and stopping the sun from setting have long been romantic ideals reserved for poetic ballads. Not anymore. In the world of clean technology, particularly solar energy, emerging expertise is ensuring that the sun's munificence continues through the night. Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Emerging Leaders Recep Tayyip Erdogan, Prime Minister, Turkey New Recep Tayyip Erdogan, Turkey's Prime Minister is an extremely popular figure in the country thanks to his progressive economic outlook and efforts that pulled Turkey out of a recessionary slide. Read more Country Profiles Singapore Updated After battling a severe recession, Singapore is now one of the world's fastest growing economies. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity an[...]



Emerging Leaders: Robin Li, Founder and CEO, Baidu

Tue, 18 Jan 2011 18:01:00 +0000

January 18, 2011 Emerging Leaders Robin Li, Founder and CEO, Baidu Google and competition have never coexisted. Founders Brin and Page have ensured that Google occupies the search throne everywhere across the world. Everywhere except China that is. Here, it is Robin Li who rules. The Founder and CEO of Baidu, China's popular search engine, had the pleasure of seeing Baidu's stock whoosh past NASDAQ ticker symbol GOOG for the first time last year. That was only the beginning of Google's losses and Baidu's gains.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Postcards Russia When Facebook generated a buzz last week with what appears to be a $50 billion valuation from Goldman Sachs, it was revealed that the company also had a rather unexpected investor - Russia's Digital Sky Technologies. Read more Global Player Ursula Burns, CEO & Chairwoman, Xerox Ursula Burns became the first black woman to head a Fortune 500 company, when she assumed the role of CEO for Xerox. She has spearheaded the turnaround of Xerox through cost efficient processes. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be consider[...]



Updated Singapore Country Profile : Beating the Recession

Mon, 17 Jan 2011 14:00:00 +0000

Country Profile : Singapore Updated Singapore: The Jewel in Asia's Crown The hottest economy in the world The Singapore economy power-surged its way to an astonishing 18.8% growth year-on-year in the second quarter of 2010. Much of the scorching pace of growth has been driven by a rise in the output of biomedical manufacturing, and continued expansion in the nation's electronics sector. This tiny state, in September 2010, held the distinction of being the fastest growing economy in the world, an incredible achievement for a nation that is often eclipsed by much bigger Asian powerhouses like Thailand, China or India. Read more Full Report in PDF  Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Postcards Russia When Facebook generated a buzz last week with what appears to be a $50 billion valuation from Goldman Sachs, it was revealed that the company also had a rather unexpected investor - Russia's Digital Sky Technologies. Read more Global Players Ursula Burns, CEO & Chairwoman, Xerox Ursula Burns became the first black woman to head a Fortune 500 company, when she assumed the role of CEO for Xerox. She has spearheaded the turnaround of Xerox through cost efficient processes. Read more Thank you for subscribing to our email c[...]



Russia Postcard : DST Invests in Facebook

Fri, 14 Jan 2011 14:00:00 +0000

January 13, 2011 A Postcard from Europe Russia: Booking the Future Face of the Internet   It's no secret that Russian President Dmitry Medvedev is passionate about technological revolution. Just last year in June, we wrote how Medvedev is keen to develop a Silicon Valley in Russia. The knowledge economy, he had stressed, was the key to furthering Russia's economic growth. Digital Sky Technologies also has a stake in Zynga, an Internet games producer, and Groupon, the Internet coupon company. When Facebook generated a buzz last week with what appears to be a $50 billion valuation from Goldman Sachs, it was revealed that the Palo Alto-headquartered company also had a rather unexpected investor- Russia's Digital Sky Technologies. This company plans to pump $50 million into the social media giant. And the Russian influence grows deeper with the Mail.Ru Group owning 2.4% of Facebook. Is Medvedev's vision coming true? Recently, Mark Zuckerberg, the founder of Facebook paid a visit to China, where the social network is censored, triggering expectations of a deal with Chinese social media companies. But while China's Internet populace is the biggest, Facebook is a non-entity there. China has a virtual Facebook clone in Renren, which means everybody, and is currently the largest social network in China. Another leading social network, Qzone, is well entrenched in the Middle Kingdom. China is a distant goal, but Russia appears a more achievable target for Zuckerberg. What may attract Zuckerberg's open interest in Russia is this small yet vitally important statistic – Russian netizens spend more time on social networks than any other country. But there are hurdles to overcome. Breaking through in China has been difficult, but Russia is no piece of cake either. Even Internet behemoth Google has struggled in Russia, with the Russian search engine, Yandex, being number one there and rapidly gaining Internet market share worldwide. The Russian language is a major barrier. Facebook has tried to work around that obstacle by offering Russian translations for many of its unique features, including the 'like' and 'poke' buttons, so its users are able to capture the nuances of the site better. Competition is stiff. Russian social networks have thrived – sites like Odnoklassniki.ru, VKontakte and Moi Mir all command a loyal following. Still, Facebook's hold has been expanding – it now has 4.5 Russian million users ever since the social media sensation launched operations in Russia in April last year. That is but a small share of the mammoth 500 million plus members that Facebook has. Clearly, this number can grow. And how. Zuckerberg himself has been quoted as saying that if Facebook can succeed in the Russian market, then it might serve as a blueprint for conquering the Chinese Internet playground. For now, in Facebook's all-conquering path, Russia remains a stubborn challenge – just like Brazil and China are, both countries where the social media giant has yet to make significant inroads. That might just begin to change though. What is interesting is that Mail.Ru has a 100% stake in Odnoklassniki and[...]



Global Economic Review: January 2011

Tue, 11 Jan 2011 19:00:00 +0000

Global Overview New Year brings cheer as global economic prospects improve Better than expected economic data from the developed world has helped lift the outlook for the global economy this year. While global growth was mostly driven by the large emerging economies last year, the developed economies are now expected to pull their weight, as consumer and business spending growth have stayed above expectations. Although bond yields have gained recently, reflecting the improved long term economic growth prospects, monetary policy remains highly accommodative across the developed economies. Surveys of manufacturing activity in the developed countries showed marked gains in December. Even labor market conditions are showing signs of improvement recently, though unemployment levels are expected to remain elevated this year as well. In Europe, concerns about the debt crisis have eased, as countries in the region have been assured financial support by the EU and the IMF to prevent credit defaults. Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Global Players Ursula Burns, CEO & Chairwoman, Xerox Ursula Burns became the first black woman to head a Fortune 500 company, when she assumed the role of CEO for Xerox. She has spearheaded the turnaround of Xerox through cost efficient processes. Read more Weekly Postcards Middle East Women investors control around 22% of the assets under management in the Middle East. And this is wealth that is expected to grow 8% through the years to 2014. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets[...]



Global Players: Ursula Burns, CEO & Chairwoman, Xerox

Tue, 11 Jan 2011 18:00:00 +0000

January 11, 2011 Global Players Ursula Burns, CEO & Chairwoman, Xerox In 2008, the world waited with bated breath to see if Americans would choose their first woman President or their first black President, with Hillary Clinton and Barack Obama being the prime contenders. This neck-to-neck race was probably indicative of positive tidings to come. Just one year later, Ursula Burns became the first black woman to head a Fortune 500 company, when she assumed the role of CEO for Xerox.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Weekly Postcards Middle East Women investors control around 22% of the assets under management in the Middle East. And this is wealth that is expected to grow 8% through the years to 2014. Read more Monthly Economic Reviews Americas The economic outlook for most countries in the Americas region has improved this month, as recent data indicates that economic activity has not slowed as much as feared in some of the key economies. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sel[...]



A Postcard from the Middle East: Women Investors on the Rise

Fri, 07 Jan 2011 18:00:00 +0000

January 7, 2011 A Postcard from the Middle East Women Investors on the Rise  Women investors in the Middle East are gaining more control over their finances, and are becoming increasingly conscious about wealth management. Walking into a women's only bank in Dubai often feels like entering a spa, such is the exclusivity of these banks. These women-only banks originally sprouted up in Saudi Arabia as a way of catering to wealthy Arab women in a society where women are not allowed to freely mingle among men. These days though, it's not just banks that are courting affluent women investors. Now, there is a women's floor on the Kuwait Stock Exchange, and a wealth management company last year launched an investment strategy product aimed solely at women investors in the Middle East. Why all the fuss? The statistics from a study by the Boston Consultancy Group (BCG) are startling. Women investors control around 22% of the assets under management in the Middle East. That is around $0.7 trillion. And this is wealth that is expected to grow 8% through the years to 2014. Women in the Gulf Cooperation Council (GCC), which includes Saudi Arabia, Kuwait, Bahrain, Qatar, Oman and the United Arab Emirates, are estimated to hold billions in personal wealth; $12 billion belongs to Saudi Arabian women, of which 75% sits in cash deposits and 20% in unit trusts. Clearly, this is a fast-growing segment that businesses around the world are seeking to tap.There have been a few trailblazing women investors from the Middle East who have overcome the typical hurdles that women investors face. Nahed Taher quit a job at Saudi Arabia's National Commercial Bank because she found it 'boring' and then became the chief executive officer of Gulf One Investment Bank, the first Saudi woman to head a bank in the Gulf Region. Taher recently vaulted to Forbes' list of the 100 Most Powerful Women in the World in 2006. Awareness, however, is growing. The Financial Services for Women Middle East Summit was recently held at the Shangri-La Hotel in Dubai with the focus on the female customer. Or should we say the women investor who is increasingly sophisticated and looking for varied and high profile investment products that suit her risk appetite. In which case, there is much work to be done in that field. Strategies have to be retooled to fit the expectations of the wealthy Middle Eastern woman investor. Studies have to be conducted to understand and analyze these women's investment appetite. Several financial products may have to be tailored to meet their needs. For it has become quite apparent, the rich woman investor from the Middle East wants more from her bank than a spa. Please visi[...]



Thomas White Funds Annual Report 2010

Thu, 06 Jan 2011 20:01:00 +0000

2010 Fund Annual Report The Thomas White Funds Annual Report for the year ending October 31, 2010, is now available on our website. Please follow the link given below to download the Report in PDF format. 2010 Thomas White Funds Annual Report Please visit our web site at www.thomaswhite.com to learn more about over 49 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Green Reports Promote Renewable Energy, Buy an REC Many a time due to high expenses, green technologies don't progress beyond small scale implementation. Now, there may be hope in the purchase of Renewable Energy Certificates (RECs). Read more Emerging Leaders Recep Tayyip Erdogan, Prime Minister, Turkey Recep Tayyip Erdogan, Turkey's Prime Minister is an extremely popular figure in the country thanks to his progressive economic outlook and efforts that pulled Turkey out of a recessionary slide. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to buy or sell any security discussed herein. It should not be assumed that any investment will be profitable or will equal the performance of any security mentioned herein. Tho[...]



Regional Economic Reviews: December 2010

Wed, 05 Jan 2011 19:30:00 +0000

Economic Reviews - December 2010 Europe Emerging Eastern Europe outperformed on the strength of its robust recovery while sentiments improved slightly in Developed Europe following Ireland's bailout and better economic data from several sectors. Read more     Asia Pacific The Asia Pacific continues to lead the global economic recovery, but escalating tensions between South Korea and North Korea have cast a cloud on the region's near-term prospects. Read more   Americas The economic outlook for most countries in the Americas region has improved this month, as recent data indicates that economic activity has not slowed as much as feared in some of the key economies.   Read more   Middle East & Africa Oil exporting countries in the Middle East North Africa (MENA) region will see their GDP boom in 2011 on the strength of rising energy prices, while importers like Morocco will witness a decline, according to a new report published by Credit Agricole CIB Bank. Read more [...]



Green Report: Promote Renewable Energy, Buy an REC

Wed, 05 Jan 2011 18:00:00 +0000

JANUARY 5, 2011 Promote Renewable Energy, Buy an REC   The Green Report A big hindrance to the development and promotion of green technologies is cost. Many a time due to high expenses, new technologies don't move beyond small scale implementation. Now, there may be hope in the purchase of Renewable Energy Certificates (RECs). Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Emerging Leaders Recep Tayyip Erdogan, Prime Minister, Turkey New Recep Tayyip Erdogan, Turkey's Prime Minister is an extremely popular figure in the country thanks to his progressive economic outlook and efforts that pulled Turkey out of a recessionary slide. Read more Monthly Economic Reviews Americas The economic outlook for most countries in the Americas region has improved this month, as recent data indicates that economic activity has not slowed as much as feared in some of the key economies. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Fund[...]



Emerging Leaders: Recep Tayyip Erdogan, Prime Minister, Turkey

Tue, 04 Jan 2011 18:01:00 +0000

January 4, 2011 Emerging Leaders Recep Tayyip Erdogan, Prime Minister, Turkey Turkey, which geopolitically straddles the Middle East and Europe, has always been divided between headscarves and beachwear, Islamic conservatism and European liberal thinking. None embodies this dichotomy more than Recep Tayyip Erdogan, Turkey's Prime Minister. At once a devout Muslim and a democratic politician, Erdogan is one of Turkey's most influential leaders in modern times.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Postcards Peru Peru's retail market is booming, spurred on by a rapidly growing economy and rising consumer confidence. Read more Monthly Economic Reviews Asia Pacific The Asia Pacific continues to lead the global economic recovery, but escalating tensions between South Korea and North Korea have cast a cloud on the region's near-term prospects. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitu[...]



Peru Postcard : Retail Sector Picks up along with Economic Growth

Fri, 31 Dec 2010 15:00:00 +0000

December 31, 2010 A Postcard from the Americas Peru: Retail Sector Picks up along with Economic Growth Business Monitor International expects the Peruvian mass grocery retail sector to expand by a staggering 80% over the next five years. Retail giant Wal-Mart was recently quoted as saying that it was not looking to expand operations into Peru. For a company that rode the recession relatively well, one wonders if the world's largest low-cost retailer may have missed the mark here. Truth be told- Peru's retail market is booming, spurred on by a rapidly growing economy and rising consumer confidence. The latest government estimates expect the Peruvian economy to grow 8% this year before slowing to 6% in 2011. The economy is the fastest growing in Latin America and indeed one of the most rapidly expanding in the world. Third quarter gross domestic product (GDP) rose 9.5% year-on-year, pushing growth for the first nine months of the year to 8.6%. Driving GDP ahead was the retail sector – expanding 9.6% in the third quarter. When asked to give reasons for its absence in Peru, Wal-Mart said that it was looking to focus more on its operations in Chile, another growing giant. But others are not complaining. Supermarket and cloth retailers have had reason to rejoice in Peru this year. Supermercados Peruanos, which is the second largest supermarket chain in Peru, launched 10 new stores in 2010 already. And it's not just the capital of Lima which is interesting retail investors. Retailers are also looking to diversify reach outside Lima, and shopping centers have mushroomed in cities such as Arequipa, Huancayo, Trujillo and Cajamarca. While Wal-Mart declined, other retailers have checked in. The Chilean retail group, Cencosud, announced earlier this year that it would invest $230 million to open 10 new supermarkets in the Peru. Another Chilean company, Falabella, also announced expansion plans. It is not just economic success that is cushioning the retail boom in Peru. Retail sales have also been spurred by the easy access consumers have had to credit. From just 210,000 credit cards in 1996, there were more than six million credit cards in circulation in 2009. Around 80% of Peru's households are expected to have at least one credit card by 2016. Easy money need not always lead to easy spending, but in Peru's case – the growth of a strong middle class has formed the backbone of domestic consumption. Inflationary pressures have remained relatively benign, allowing the Peruvian central bank the freedom to hold its interest rate steady in November. Will there be a cloud to damper such a rosy horizon in Peru? Risks do come into play. The country's infrastructure needs to be upgraded. The Presidential elections in April 2011 will obviously be crucial for Peru's future. These elections will determine the successor to Alan Garcia Perez, but none of the candidates in the fray including former President Alberto Fujimori's dau[...]



Global Players: Wolfgang Schauble, Finance Minister, Germany

Tue, 28 Dec 2010 18:01:00 +0000

December 28, 2010 Global Players Wolfgang Schauble, Finance Minister, Germany Hailed as the architect of Germany's reunification, Wolfgang Schauble, the country's Finance Minister, is now holding the country together with his economic policies.    Read more Please visit our web site at www.thomaswhite.com to learn more about 45 countries worldwide, as well as the Thomas White Funds. Short introductions to our most recent content are given below. Weekly Postcards Turkey Turkey, which is poised to become the third-largest economy in Europe by 2050, is also rapidly developing into an energy hub in Europe. Read more Green Reports Carbon Emissions and the Internet: Is Cloud Computing the Answer? The seemingly innocuous Internet is also one of the biggest emitters of carbon emissions, according to numerous reports that have been released recently. And the most popular solution on the horizon seems to be cloud computing. Read more Thank you for subscribing to our email communication services. You may subscribe to additional services here . Remove me from this list You should consider the investment objectives, risks, charges and expenses of the Thomas White Funds carefully before making an investment decision. Prospectus(es) with this and other information about the Funds may be obtained by calling 1-800-811-0535 or by visiting www.thomaswhite.com. Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international markets. These include risks related to social and political instability, market illiquidity and currency volatility. The information contained in this message does not, in any way, constitute investment advice and should not be considered a recommendation to[...]



Turkey Postcard : Energy Link to Europe?

Thu, 23 Dec 2010 14:03:00 +0000

December 23, 2010 A Postcard from Europe Turkey: Energy Link to Europe? Plans for the Nabucco pipeline were initialized as far back as 2002. Erzurum, one of Turkey's biggest cities, has a history of almost 6,000 years, deriving its name from the Persian word, Arz-e-Rum, or Land of the Romans. It is not the Land of the Romans any longer, but the city boasting a curious mix of modernity and ancient tradition is an important cog in Turkey's economic wheel, for it is in Erzurum that the Nabucco pipeline begins its long journey. When Wolfgang Ruttenstorfer spoke of Turkey becoming an 'important energy hub,' he was referring to Nabucco. Ruttenstorfer, the Chief Executive Officer of Österreichische Mineralölverwaltung or OMV, one of Austria's biggest energy companies, told Today's Zaman that Turkey was going 'to be a crucial player and a bridge in the energy sector.' He is not far off the mark. The Nabucco pipeline or the Turkey-Austria pipeline is a planned natural gas pipeline that begins in Erzurum and ends in Baumgarten an der Marchin in Austria. Potentially, it will carry around 31 billion cubic meters of natural gas annually to Europe – a crucial project by any standards that would help lessen European dependence on the Russia-sponsored South Stream pipeline. Concerns over supply still hover, although expectations are that the gas might be supplied from countries like Iraq or Azerbaijan. It's here that Turkey's long-held geographical advantage comes to the fore – the country not only is linked to Europe, but also borders the potential supplier states of Iraq, Syria and Azerbaijan. This is the 'energy hub' that Ruttenstorfer was speaking of. Although Turkey is not the supplier of the natural gas, its role as the conduit of this energy source to Europe is vital. The ambitious project has the backing of several European Union members and financing from various EU banks, including the European Bank for Reconstruction and Development and the European Investment Bank. Construction of this pipeline, which has been dogged by delays, is expected to begin in 2011, pending a final investment decision. The first gas to flow out of the spigot begins in 2014. And of course, there is the small matter of Turkey's booming economic resurgence. As we wrote earlier, Turkey is poised to become the third-largest economy in Europe by 2050, making it an investing hot spot, apart from being an energy hub. But it's not just Nabucco that makes Turkey such a key figure in the scramble for energy. There is also the Baku-Tbilisi Ceyhan pipeline, which is a part of the East-West Energy Corridor that terminates in Ceyhan in Turkey. Around 3.7% (a conservative estimate at best) of the world's oil consumption is shipped through the Turkish straits every day. Projects like the Arab Natural Gas Pipeline, which expects to carry gas from Egypt to Turkey, add to the growth in the energy sector. So i[...]