DB says credit turmoil has helped emerging markets

Recent turmoil in Western financial markets has benefited emerging markets, which have largely dodged any cascading shocks, Deutsche Bank's chief executive said on Saturday.

"Overall, the shocks in the mature economies' markets have at least until now led to a relative re-pricing of risk, favouring some countries and sectors, especially emerging markets," Josef Ackermann said in a speech prepared for a meeting of CEOs organised by the Washington-based Institute of International Finance (IIF) in Dubai.

Strong commodity prices and growing domestic investment were supporting emerging markets, helping limit the global effects of the sub-prime crisis, he said… (Read more..)

Source :Reuters