SBWire

We continue to predict 4.0% GDP growth this year in Thailand, as the recovery from last year's floods is held back by a sluggish world economy and worries about political risk at home. In 2013 we believe growth will gather pace moderately to reach 4.4%. While remaining depressed relative to last year, we are a bit more optimistic about foreign trade - we now expect the real value of foreign trade to grow by 10.7% in 2012 down from 11.6% in 2011, but still in double figures. So despite the difficulties, the wider economy will provide a reasonable level of support for the ports and shipping sector. As for industry-specific factors, it is clear that a number of freight sectors will grow at a faster rate than GDP. In the shipping sector, the Port of Bangkok is benefiting from the recovery from last year's floods. Air freight, on the other hand, is also growing well, as a result of good fundamentals and the growth of ASEAN demand. Despite the relatively sluggish performance of the economy, foreign trade growth continues to be a positive influence.

The Morocco Tourism Report examines the long-term potential offered by the country but cautions that the economic crisis in the eurozone will continue to weigh on short-term inbound tourism demand. This means overall tourist arrivals and receipt growth rates could well slow over 2013.

The Kuwait Insurance Report considers the prospects for both life and non-life insurers in the country. In theory, Kuwait should be home to one of the Middle East's leading insurance sectors. Thanks to energy exports, the economy has consistently performed well over the long-term. The local insurance companies are well established. Kuwait is also the base for very substantial and innovative shari'a-compliant financial institutions. The Kuwait Investment Authority is one of the major shareholders in Arig, one of the leading regional reinsurance companies.

Japanese consumers started to take on more loans in 2012. This was due to improved consumer demand due to growing card lending, in particular credit card lending, while the earthquake of March 2011 and the 2010 instalment sales law slowed down the growth of card lending over the review period. With the considerable loss in payday loans, financial institutions were very proactive in increasing card transaction spending among existing cardholders, with the promotion of discounts and reward...

A sustained economic growth of 4.3% yearly as well as a strong entrepreneurial spirit amongst Kenyans has brought about an observable increase in middle-income earners in the country. The Kenya Economic Survey 2011 defines a middle-income earner as an individual or household for which monthly consumption expenditure ranges from KES23,671 to KES120,000. Households that benefit from such high consumption allowances have contributed to the significant increase in the size of the consumer goods...

Ongoing investment in Malaysia's petrochemical industry is focused on vertically integrated complexes with a high degree of diversification, which should add value to basic chemicals production. This report analyses the threat of potential market saturation on industry growth over the medium-term, as well as a short-term domestic economic downturn.

BMI View: Switzerland is one of the highest value mobile markets globally, underpinned by high incomes and demand for advanced services. The market retains subscription growth potential relative to other Western European markets. Despite ARPU declines in recent years, and a slowdown in the growth of non-voice revenues, we believe the market also contains potential for value generation in the short and medium term. The launch of LTE, roll-out of FTTH infrastructure and the associated opening of higher VAS markets will help counter price competition in traditional services - although consumer IP substitution is an underlying threat to this view.

Virtually all the positive trends that we identified in Turkey's insurance sector in the Annual Report last year remain intact. Inflation that is still high by the standards of most countries (if not Turkey) is boosting non-life premiums, but they are still almost achieving double-digit growth in real terms. This is thanks in part to the general improvement in the economy and the use of non-life insurance by first time customers. Non-life penetration remains in a steady uptrend. The life sector is developing quite rapidly from a low base, thanks in part to reforms which should boost the appeal of Turkey's private pension products.

BMI View: Saudi Arabia's mobile market is increasingly saturated, with the prospects for subscriber and usage growth for traditional telecoms services relying heavily on temporary visitors and seasonal demand during religious festivals. However, BMI believes the country's relatively large and wealthy population, as well as robust economic growth, creates an opportunity for telecoms service providers to grow their top-line figures from high-value consumer and corporate services.

The accompanying tables present the latest economic data and five-year forecast scenario for the country's banking system. Also included is SWOT analysis of the commercial banking system as a whole.

This United Kingdom Real Estate report examines the commercial office, retail, industrial and construction segments. With a focus on the principal cities of London, Manchester and Glasgow, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of a variety of factors weighing heavily on the UK's real estate market.

Peripheral Vascular Devices Market to 2018 - Increasing Demand for Minimally Invasive Endovascular Procedures Presents Growth Opportunities for Manufacturers

GlobalData's clinical trial report, "Ovarian Cancer Global Clinical Trials Review, H2, 2012" provides data on the Ovarian Cancer clinical trial scenario. This report provides elemental information and data relating to the clinical trials on Ovarian Cancer. It includes an overview of the trial numbers and their recruitment status as per the site of trial conduction across the globe. The databook offers a preliminary coverage of disease clinical trials by their phase, trial status, prominence of the sponsors and also provides briefing pertaining to the number of trials for the key drugs for treating Ovarian Cancer. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.

GlobalData's new report, "New Zealand Anesthesia and Respiratory Devices Market Outlook to 2018 - Respiratory Devices, Respiratory Measurement Devices, Anesthesia Machines, Sleep Apnea Diagnostic Systems, Pain Management Devices and Others" provides key market data on the New Zealand Anesthesia and Respiratory Devices market. The report provides value (USD million), volume (units) and average price (USD) data for each segment and sub-segment within market categories - Respiratory Devices, Respiratory Measurement Devices, Respiratory Disposables, Airway and Anesthesia Devices, Anesthesia Machines, Regional Anesthesia Disposables, Sleep Apnea Diagnostic Systems and Pain Management Devices. The report also provides company shares and distribution shares data for each of the aforementioned market categories. The report is supplemented with global corporate-level profiles of the key market participants with information on company financials and pipeline products, wherever available.

GlobalData's new report, "Saudi Arabia Anesthesia and Respiratory Devices Market Outlook to 2018 - Respiratory Devices, Respiratory Measurement Devices, Anesthesia Machines, Sleep Apnea Diagnostic Systems, Pain Management Devices and Others" provides key market data on the Saudi Arabia Anesthesia and Respiratory Devices market. The report provides value (USD million), volume (units) and average price (USD) data for each segment and sub-segment within market categories - Respiratory Devices, Respiratory Measurement Devices, Respiratory Disposables, Airway and Anesthesia Devices, Anesthesia Machines, Regional Anesthesia Disposables, Sleep Apnea Diagnostic Systems and Pain Management Devices. The report also provides company shares and distribution shares data for each of the aforementioned market categories. The report is supplemented with global corporate-level profiles of the key market participants with information on company financials and pipeline products, wherever available.

This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Syria. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the natural gas assets (gas fields and pipelines) in Syria. The report compares the investment environment in Syria with other countries in the region. The profiles of the major companies operating in the natural gas sector in Syria together with the latest news and deals are also included in the report.

BMI View: Operators in Italy's mobile and broadband markets face considerable operating challenges in 2012. The local economy has entered recession and will likely lead to higher customer churn rates and customer winback/retention costs, even as the operators continue engaging in price wars focused on the mass consumer market and invest heavily in additional spectrum, to further 3G/3.5G/3.75G network infrastructure and begin developing their next generation 4G services. At the same time, further mobile termibnation rate (MTR) reductions will hit operators' revenues in 2012 and again in early 2013, leaving them little room to manoeuvre. The main bright spot is in the value-added services (VAS) market, where consumption of non-voice services, particularly video and games, is booming.

BMI View: We have revised down our estimate for the French construction industry in 2012, from an earlier forecast of 1.2% year-on-year (y-o-y) growth to a more cautious estimate of 0.6%. We remain positive about relatively stronger growth during the remainder of our forecast period - with growth forecast to average 1.0% y-o-y (in real terms) between 2013 and 2021; however, we highlight that the protracted resolution of the eurozone sovereign debt crisis and the limited scope for the government to spend on public projects could weigh on construction industry growth.

BMI forecasts single-digit growth in the Czech consumer electronics market in 2012 due to continued weakness in Czech consumer spending. In 2012, household consumption continues to be battered by a combination of fiscal austerity at home and low confidence as a result of a high degree of uncertainty surrounding the future of the eurozone bloc. Trading conditions remain difficult and consumer spending will be weighed down by fiscal austerity and still elevated unemployment, while rising inflation will continue to eat away at households' disposable income. Data released by the Czech Statistics Office (CSO) show that real retail sales fell by 1.0% year-on-year (y-o-y) in June according to data released by the CSO.

BMI View: Chile's strong business environment continues to attract investment. Combined with a wellfunded government stimulus programme, this investment is powering strong growth in the country's construction industry, with year-on-year growth of 7.0% forecast for 2012. This is anticipated to slow slightly over the longer term, with annual average growth of 3.6% forecast between 2013 and 2021. The construction industry is expected to increase in value over our forecast period, from US$20.0bn in 2012 to US$36.8bn in 2021.

Global Markets Direct's new report, "Greece Anesthesia and Respiratory Devices Investment Opportunities, Analysis and Forecasts to 2018" provides key market data on the Greece Anesthesia and Respiratory Devices market. The report provides value (USD million), volume (units) and average price (USD) data for each segment and sub-segment within market categories - Respiratory Devices, Respiratory Disposables, Respiratory Measurement Devices, Airway and Anesthesia Devices, Anesthesia Machines, Regional Anesthesia Disposables, Pain Management Devices and Sleep Apnea Diagnostic Systems. The report also provides company shares and distribution shares data for each of the aforementioned market categories. The report is supplemented with global corporate-level profiles of the key market participants with information on company financials and pipeline products, wherever available.

Global Markets Direct's, 'Blood Cancer - Pipeline Review, H2 2012', provides an overview of the indication's therapeutic pipeline. This report provides information on the therapeutic development for Blood Cancer, complete with latest updates, and special features on late-stage and discontinued projects. It also reviews key players involved in the therapeutic development for Blood Cancer. Blood Cancer - Pipeline Review, Half Year is built using data and information sourced from Global Markets Direct's proprietary databases, Company/University websites, SEC filings, investor presentations and featured press releases from company/university sites and industry-specific third party sources, put together by Global Markets Direct's team.

Global Markets Direct's, 'Malignant Pleural Effusion - Pipeline Review, H2 2012', provides an overview of the indication's therapeutic pipeline. This report provides information on the therapeutic development for Malignant Pleural Effusion, complete with latest updates, and special features on late-stage and discontinued projects. It also reviews key players involved in the therapeutic development for Malignant Pleural Effusion. Malignant Pleural Effusion - Pipeline Review, Half Year is built using data and information sourced from Global Markets Direct's proprietary databases, Company/University websites, SEC filings, investor presentations and featured press releases from company/university sites and industry-specific third party sources, put together by Global Markets Direct's team.

Global Markets Direct's, 'Mucopolysaccharidosis III (MPS III) (Sanfilippo Syndrome ) - Pipeline Review, H2 2012', provides an overview of the indication's therapeutic pipeline. This report provides information on the therapeutic development for Mucopolysaccharidosis III (MPS III) (Sanfilippo Syndrome ), complete with latest updates, and special features on late-stage and discontinued projects. It also reviews key players involved in the therapeutic development for Mucopolysaccharidosis III (MPS III) (Sanfilippo Syndrome ). Mucopolysaccharidosis III (MPS III) (Sanfilippo Syndrome ) - Pipeline Review, Half Year is built using data and information sourced from Global Markets Direct's proprietary databases, Company/University websites, SEC filings, investor presentations and featured press releases from company/university sites and industry-specific third party sources, put together by Global Markets Direct's team.

BMI maintains our cautiously optimistic stance with regards to South Africa's freight transport sector in 2012. Although container volumes at the country's largest box-handling facility, Durban, have struggled to maintain volumes, total tonnage volumes at the Port of Richards Bay have grown by around 10%. Given that the facility is the largest South African port in terms of total tonnage volumes, this also bodes well for the country's rail freight sector, and would suggest that the feared slowdown in Chinese demand for the country's commodities has not yet impacted upon the sector.