2011

US Finance Industry Assess Galleon Ruling

MILESTONES: UNITED STATES By Anita Hawser It may have taken only 12 days of deliberations for the jury in the Galleon trial to convict Raj Rajaratnam, the co-founder of Galleon Group, of 14 counts of securities fraud, but the repercussions ...

Europe Aims To Simplify Securities Clearing Systems

MILESTONES: EUROPE By Anita Hawser How many central securities depositories (CSDs) does Europe need? The European Commission and the European Central Bank believe it is far fewer than the 40 CSDs currently scattered across the continent. The EC: Yet to ...

Bernanke Heralds A New Era Of Fed Openness

NEWSMAKERS: UNITED STATES By Anita Hawser With the US economy still in recovery mode, monetary policy decisions of the Federal Reserve can have a major impact on which way the markets move. Bernanke opens up But now, perhaps following the ...

FSA Plans To Go Out With A Bang

MILESTONES: UNITED KINGDOM By Anita Hawser Before the 2008 financial crisis ripped through the world’s markets, the UK’s Financial Services Authority was renowned for its light-touch approach to regulation. Davies, RPC: Big jump in FSA fines In the aftermath of ...

Portugal’s Leaders Left With Few Option

MILESTONES : PORTUGAL By Anita Hawser Sovereign debt in the eurozone is back in the headlines again, with Portugal going cap in hand to the European Union and asking for an emergency bailout. Debt burden leaves little room to maneuver ...

EM: Turmoil May Change Sovereign Fund Strategy

EMERGING MARKETS INVESTOR: NEWS By Anita Hawser The investment activities of sovereign wealth funds in some of the oil-rich countries in the Middle East and North Africa are being scrutinized with increasing interest by investors as political unrest continues to ...

DR News: Bumper Year Ahead For Asian DRs

EMERGING MARKETS INVESTOR: DR NEWS By Anita Hawser A Korean flour and feeds mill company, DongA One, selected BNY Mellon as its depositary bank for its ADR program. Each ADR issued represents two common shares of the Korean company, which ...

Emerging Markets Roundup: Middle East

BUSINESS AS USUAL DESPITE UNREST By Anita Hawser The turmoil sweeping the Arab world threatens to cause a contagion that will spread far beyond the Middle East, says Barings Asset Management. Kuwait and other GCC countries in new fundraising efforts ...

Go With The Flow

CORPORATE TOOLBOX: LIQUIDITY MANAGEMENT By Anita Hawser Banks are offering increasingly innovative products to help companies make the most of their internal liquidity. It might be hard to picture now, but just five years ago credit was so cheap that ...

Company To Watch: Fatima Fertilizer

EMERGING MARKETS INVESTOR: COMPANY TO WATCH By Anita Hawser Headquartered in Lahore, Fatima Fertilizer, which provides nitric acid, ammonia and other fertilizer and chemicals products, was born out of the Pakistan government’s 2001 Fertilizer Policy, which aims to develop greenfield ...

UK/US: Derivatives Traders Assess New Regs

MILESTONES: UNITED KINGDOM / UNITED STATES By Anita Hawser Banks are scrambling to launch electronic trading platforms for derivatives transactions such as credit default swaps (CDSs) in an attempt to get ahead of planned regulatory changes aimed at increasing transparency ...

Take Cover

INSURANCE: POLITICAL RISK COVER By Anita Hawser Recent events in the Middle East and North Africa have brought political risk into sharp focus for multinationals in the region and beyond. It was the morning after the Japanese earthquake, and David ...

Emerging Markets Roundup: Middle East

ROUNDUP: MIDDLE EAST By Anita Hawser In the wake of the political and social unrest that has been sweeping across the Middle East following the downfall of the Tunisian and Egyptian leaders, ratings agencies are preparing to issue more downgrades ...

EM: Bovespa Eyes Other BRIC Markets

EMERGING MARKETS INVESTOR: NEWS By Anita Hawser As the world’s key stock exchanges engage in a flurry of mergers aimed at cutting costs and boosting efficiency, Brazil’s BM&F; Bovespa—the fourth largest exchange operator in the world—is looking to spread its ...

Company To Watch: Industrias Bachoco / Mexico

INDUSTRIAS BACHOCO: POULTRY PRODUCER OFFERS PROTECTION IN TROUBLED MARKET By Anita Hawser In times of uncertainty investors often turn to so-called defensive stocks, and Mexico poultry producer Industrias Bachoco is certainly that. Despite other problems that may be going on ...

Global: Pushing For Mainstream Sustainability Reporting

NEWSMAKERS: GLOBAL By Anita Hawser Ligteringen: “Measure what you need to manage” “We are urging all companies to look systematically at their environmental,social and economic results,” says Ernst Ligteringen, CEO of the Global Reporting Initiative (GRI), which provides sustainability reporting ...

DRs: Chinese Firms Believe In US IPO Market

EMERGING MARKETS INVESTOR: DR NEWS By Anita Hawser The wave of Chinese companies opting to list on American exchanges continues with a China-based manufacturer of rare-earth coated and prestressed building materials for roads and bridges issuing five million American Depositary ...

Awards: Treasury & Cash Management

ANNUAL SURVEY: CASH CONTROL By Anita Hawser In a reflection of the changes taking place in the global economy, new battle lines are being drawn by the global cash management banks, particularly in regions like Asia and Africa. The banks ...

Sector Report: Islamic Finance

ISLAMIC FINANCE: ISLAMIC BANKING BY THE BOOK By Anita Hawser The growing popularity of Islamic financing and an intensified focus on risk management in the global banking industry are prompting greater awareness of the need for a unified—and appropriate—regulatory regime. ...

EM News: Equity Markets To See More Growth

EMERGING MARKETS INVESTOR: NEWS By Anita Hawser Emerging market equities look set to enjoy another strong year in 2011 on the back of robust economic growth fueled by domestic consumption and a recovery in exports. "Emerging equities are expected to ...

Update: Custody and Investor Services

CUSTODY & INVESTOR SERVICES: IN SAFE HANDS By Anita Hawser Custodians have seen their role expand as a result of recent regulatory and market-driven changes. In the wake of Lehman's collapse, Bernie Madoff's $50 billion Ponzi scheme and the regulatory ...

US: Treasurers Oppose Tighter Rules On MMFs

NEWSMAKERS: UNITED STATES By Anita Hawser Proprietary trading by banks and OTC derivatives has come under increased regulatory scrutiny following the 2008 subprime crisis, but, to the surprise of many, regulators are also fixing their gaze on money market funds ...

Corporate Toolbox: Cyber Security

CYBERSECURITY: HIDDEN THREAT By Anita Hawser Recent increases in cyberattacks have raised alarming questions over corporate network security. In February 2010 the Kneber botnet virus infected more than 70,000 computers globally, including some at US government agencies. The attack was ...

UK: Businesses Brace For Bribery Crackdown

NEWSMAKERS: UK By Anita Awser High risk: UK bribery law will affect companies worldwide In a sign that regulators are clamping down on bribery and corruption in international business, from April 2011 the UK will implement what legal experts are ...

SEPA Update: Slow Progress

UPDATE: SEPA By Anita Hawser Proponents of the Single Euro Payments Area are considering stringent measures to encourage companies to hop on board. As eurozone countries busy themselves implementing liquidity measures designed to calm market fears about sovereign debt problems ...

Qatar: Islamic Finance To Win With World Cup

NEWSMAKERS: QATAR By Anita Hawser Hussain: Islamic banks must resolve key issues As Qatar kicks off its campaign to ensure it has the infrastructure to host the 2022 FIFA World Cup, the region's banks are hoping the massive investment will ...

2010

Emerging Markets Focus: Asia

COVER STORY: IN THE DRIVER'S SEAT By Anita Hawser Emerging Asia has consolidated its role as the most powerful engine of global economic recovery—but threats to the region's growing prosperity remain. The first thing British prime minister David Cameron did ...

Global: Basel III Debate Over Trade Finance

NEWSMAKERS: GLOBAL By Anita Hawser Nivison: Trade is different When the new Basel III capital adequacy proposals were announced back in the summer, some members of the banking community breathed a sigh of relief as the timeline for their introduction ...

The Benefits Of Discipline

INTERVIEW — DURMUS YILMAZ Turkey's central bank governor talks to Anita Hawser about inflation, Europe and how his country managed to weather the recent global crisis so well. The Central Bank of Turkey has a long history of battling inflation. ...

Standard Bearers

SECTOR FOCUS — ISLAMIC FINANCIAL SERVICES By Anita Hawser Calls for standardized regulation of Islamic financial services are growing louder in the wake of the global financial crisis. Islamic banks emerged from the recent financial crisis with a relatively burnished ...

United Kingdom: Governance Code Puts UK Shareholders In The Hotseat

NEWSMAKERS: UNITED KINGDOM By Anita Hawser Hogg: Code will be catalyst In the wake of the financial crisis, which highlighted the need for higher levels of engagement between the boards of companies and significant shareholders, corporate governance is at the ...

Europe: SEPA Fails To Live Up To Expectations

MILESTONE: EUROPE By Anita Hawser Slow implementation has hindered SEPA With the threat of sovereign defaults in Europe's PIGS (Portugal, Ireland, Greece Spain), the eurozone had its fair share of bad news this summer. As the sovereign and fiscal dramas ...

Milestones: Financial Services Industry Faces Long Convalescence

Global By Anita Hawser Moloney: Regulators’ lenient attitude toward banks is over As banks enter the convalescence phase after what some describe as the financial equivalent of a major medical trauma, there may be a need for further medicine to ...

Newsmakers: Financial Turmoil Hits London's Status

United Kingdom By Anita Hawser Jenkins: London faces threat from multiple emerging market centers As economic power increasingly shifts toward the East and regulators in the West look to rein in the growth of their financial sectors, senior business figures' ...

SIBOS 2010

With thousands of banks and a growing number of corporations attending each year, the Brussels-based international banking network SWIFT's annual Sibos conference has become a crucial forum for debates in transaction banking. This year's conference, to be held in Amsterdam, ...

SIBOS: Remittances

BANKS MAKE A BID FOR A GROWING MARKET By Anita Hawser Technological innovations and the rapid acceleration of globalization are driving a sharp increase in banks' interest in the remittances market. We are on the cusp of something significant," says ...

Asia’s Financial Centers Gain Ground On Rivals

MILESTONES: GLOBAL By Anita Hawser Hong Kong: One of the world’s top-three finance centers London and New York can rest easy. Despite the Dodd-Frank Act and other regulatory measures that threaten to split up banks, curb bankers' bonuses and limit ...

TCM: Risks And Rewards

By Anita Hawser Having survived one of the worst recessions on record, companies understand better than ever that treasury management is important for improved efficiency, whether through tightening their accounts-receivable or accounts-payable processes to unlock working capital or limiting the ...

TCM: Braced For Turbulence

FX EXPOSURE MANAGEMENT Currency volatility is increasing, and companies are finding that more than ever they need to have an effective FX hedging strategy in place. By Anita Hawser Frank Pirozzi is the assistant treasurer at Red Hat, a Raleigh, ...

Top Firms Spurn Bank Finance

EUROPE By Anita Hawser No thank you: Companies reject costly bank loans Investment-grade companies are shunning bank lending and opting instead for the bond markets in order to raise financing, a report by Fitch Ratings says. Based on a survey ...

Turbulence Indices Provide Risk Insight

GLOBAL By Anita Hawser State Street’s Will Kinlaw Stress testing risk models and investment portfolios for extreme market events has certainly come into vogue in the wake of the financial crisis. Banks’ risk models were criticized for focusing too much ...

IMF Identifies Reasons For Markets' Resilience

NEWSMAKERS: EMERGING MARKETS By Anita Hawser Rosy future: Emerging hubs such as Mumbai recovered fast As the dust continues to settle following the recent global financial crisis, the International Monetary Fund is attempting to explain why so many emerging economies ...

Lack Of Coordination Sets Stage For Regulatory Mayhem

NEWSMAKERS: GLOBAL By Anita Hawser Anderson: Inconsistent regulation raises risks It’s official. Political leaders across the G20 group of countries are ready to make the banks pay for the financial crisis. At the G20 summit in Toronto toward the end ...

Best Supply Chain Finance Providers 2010

ANNUAL SURVEY —BEST SUPPLY CHAIN FINANCE PROVIDERS 2010 Joining The Chain Gang By Anita Hawser The leading players in the supply chain finance business demonstrate the benefits of innovation and commitment to a growing market. A lot of the hype ...

Gulf Report: Game Changer

ISLAMIC FINANCING BREAKTHROUGH By Anita Hawser GAME CHANGER The arrival of the first globally standardized documentation for privately negotiated Islamic hedging products marks a major breakthrough in Islamic finance and risk management. Compared to the conventional financial markets, Islamic finance ...

Foreign Exchange Trading

SPOTLIGHT: TRADING UP Technology is revolutionizing foreign exchange trading and providing ever-increasing opportunities in the world’s biggest financial market. By Anita Hawser Electronic trading has revolutionized markets. In the equities markets, algorithmic trading platforms, high-frequency trading and smart order routing ...

Private Equity Focuses On Emerging Opportunities

MILESTONES: EMERGING MARKETS Private Equity Focuses on Emerging Opportunities By Anita Hawser Thunell: Extolling the virtues of emerging markets While developed markets flounder in a post-crisis quagmire of sovereign debt, developing markets are enjoying much better times—and private equity investors ...