Emerging market equities have not had a congenial summer. Since Ben Bernanke, chairman of the Federal Reserve, broached the subject of tapering the Fed’s asset purchasing programme back in May, they have notably underperformed developed world equities. It looks suspiciously as though the emerging market growth story is tarnished.The story was, in truth, over-hyped. The suggestion emerging markets could somehow decouplefrom the developed world and deliver self-sustaining high growth rates for the forseeable future was

During nearly eight years running the Federal Reserve, Chairman Ben Bernanke's signature style has been managing by consensus. He has given colleagues wide latitude to speak their minds at closed-door Fed meetings and in public. He also has worked behind the scenes to find common ground among the 18 other strong-willed Fed governors and regional bank presidents when he has had to make big policy decisions.With Mr. Bernanke expected to give up thehelm when his term ends in January, his leadership style,and the style

Pursuing an MBA degree is the ambition of many young white-collar workers who graduated from university a few years before. They’ve accumulated some professional experience and saved a bit of money – prerequisites for most MBA programs.An MBA degree is a good springboard for those who want to switch to another career or climb to a higher position. The learning experience can be rewarding and practical. That’s because MBA programs develop employees’ management skills, while also teaching them basic or even advanced

Turkey’s central bank unexpectedly raised rates to buttress its wilting currency as policy makers across the developing world scrambled to stem the turmoil rattling emerging markets.The interest rate rise helped the Turkish lira to rally against the US dollar, but elsewhere in emerging markets the turmoil continued unabated. The FTSE Emerging Markets index shed a further 1 per cent to fall to its lowest level in a month, and borrowing costs rose higher across the developing world.The fresh uncertainty came as figures showed how waning

The EU is to “urgently review” relations with Egypt and will consider suspending aid to the country, as international concern mounts about an escalation in violence following last week’s crackdown on Islamist protesters. EU officials said the review was likely to recommend a suspension of various forms of aid and loans in total worth €5bn, which had been earmarked to help Egypt in its transition towards democracy following the popular revolution that ended the military regime of Hosni Mubarak two years ago. Suspension would require the

The 20 biggest emerging market currencies tumbled against the US dollar yesterday with India’s rupee particularly badly hit amid mounting market turmoil in the developing world. The rupee slumped to an all-time low against the backdrop of deepening concerns over the government’s economic management. The 2.4 per cent fall to a record 63.2 to the dollar took the currency’s slump against the US dollar this year to 12 per cent.Yesterday’s moves in India came alongside grim news from emerging economies and further evidence of

The Central Economic Work Conference, held on Dec 15 and 16, set the tone for economic policies in 2013. According to a conference statement, urbanization is high on the government’s agenda.According to Xinhua, China’s urbanization will release the full potential of domestic demand. The trend is expected to boost the job prospects of young people in the country. “Urbanization is a process that is occurring in nearly every developing city in the country. It will lead to a better quality of life for many people, and provide individuals with