China

Despite the fact that it is expected to grow three times as fast as the US and twice as fast as Brazil over the next two years, few firms are engaged in investing directly into mainland China, writes Richard Hemming.

This is principally because of the restrictions that apply on entry and exit into a market that is effectively State controlled and owned – a fact that qualifies it to be a frontier market.

Bridas Energy Holdings, the oil and gas company owned by the Bulgheroni family, on Sunday confirmed that China National Offshore Oil Corporation Limited (CNOOC) will take a 50% stake in a its subsidiary company Bridas Corporation.
 
The deal sees CNOOC and BEH form a 50-50 joint venture that will control Bridas Corporation on completion. Although Bridas did not put a value on the deal, CNOOC said it will pay approximately $3.1 billion for its share of the Argentinean company.
 

If last year's economic predictions were far too optimistic then I suppose we can draw some comfort from the fact that this year's commentaries seem universally depressing. However, we cannot get away from the fact that the financial news and the background economic environment is bad and likely to get worse before it gets better.

The good news though is that a lot of this bad news has already been factored in, with some investment houses thinking that the fall in certain valuations may have already gone too far.

Barbara Bachman (pictured), the wife of murdered family business chairman and CEO Todd Bachman, is making a remarkable recovery according to her physician.

The Mayo clinic released a statement announcing that her condition continues to improve and has been upgraded to "good", indicating a good or excellent prognosis.

"Mrs Bachman has made a remarkable recovery given the significance of her injuries. She continues to get stronger each day and as her strength improves she is able to do more," said the physician.