2008

Newsmakers : Leaders Line Up Presidential Candidates

TURKEY

newsmakers2

Coskun Ulusoy: Army pension fund looks beyond Turkey, but not Asia.

While pension funds in Europe and other parts of the world are being told to raise their game in order to make up investment shortfalls, the Turkish armed ...

Features : Greasing The Wheels Of Global Trade

GREASING THE WHEELS OF GLOBAL TRADE ANNUAL SURVEY / SUPPLY CHAIN FINANCE Global Finance pinpoints the leaders in the increasingly innovative, creative and commercially important field of supply chain finance. The physical transportation of goods between buyers and suppliers may ...

Milestones : Tighter Lending Standards Part Of Long-Term Strategy

GLOBAL


milestones02

Slim pickings: Banks are less keen on lending.

As the fallout from the subprime debacle continues, companies are finding they can no longer rely on their long-standing banking providers for credit. In fact, according to a report by analyst ...

Features : Raising Sepa’s Horizons

CORPORATE TOOLBOX — SEPA

Six months after SEPA’s introduction, banks are still trying to devise ways to encourage the businesses they serve to jump aboard. Additional optional services may provide the answer.

features6-1 The introduction of the euro in January 1999 ...

Features : Sharing In Risk And Reward

SECTOR REPORT / ISLAMIC FINANCE

The range of Islamic finance techniques is growing rapidly, but some are concerned that the most innovative products may be flouting shariah principles.

features2-1 While conventional financial markets are still reeling from the credit crunch, and the ...

Milestones : Anxiety Grows Over Liquidity And Credit

GLOBAL


milestones01

Stressed out: Concern over financial risks has grown sharply.

One of the most extensive surveys of global banks’ attitudes toward risk has found that liquidity and credit spreads continue to keep bankers awake at night. The Centre for the ...

Features: Banking on Russia

ANALYSIS

Deft maneuvering is helping Russia’s banks dodge the fallout from the credit crunch, but significant risks remain—particularly for smaller banks and their customers.


features2-1
While the crises at UK mortgage lender Northern Rock and US investment bank Bear ...

Milestones : Bank Bailouts Could Harm Country Rating

GLOBAL

milestone3

A cautious approach: Bank of England governor Mervyn King.

The global credit crunch has highlighted just how far regulators and banks in some markets are willing to go to prop up the domestic financial system. However, clear differences are ...

Features : Fighting Frausters From Winthin

ONLINE FRAUD

New technologies and greater understanding of the mechanics of online fraud are helping corporations beat the bad guys.

features5
The 2002 film “Catch Me If You Can” was based loosely on a book penned by Frank William Abagnale Jr ...

Newsmakers : US CEOs May Face Euro-Style Packages

UNITED STATES / EUROPE


newsmakers3

With corporate fat cats’ earnings increasingly in the spotlight, particularly in these credit-challenged times, it appears that CEO remuneration packages vary markedly depending on which side of the pond they are on. According to management consultancy Hay ...

Newsmakers : Taking Shariah-Compliant Financing Into The Mainstream

UNITED KINGDOM

While many Western banks may be struggling with liquidity and funding issues, Middle Eastern banks, awash with liquidity, are increasingly making their presence felt in Western financial markets. One such bank is Qatar Islamic Bank (QIB), whose European ...

Newsmakers : US Wakes Up To Economic Benefits Of Clean Energy

UNITED STATES


newsmakers2

Clean energy technologies are key to the US's future economic prosperity.

US president George W. Bush may not have signed the Kyoto Protocol for reducing carbon dioxide emissions, but with consumers feeling the pinch of high oil ...

Features : No Alternative

SECTOR REPORT / GLOBAL CUSTODY



As their clients seek ever-greater returns on their investments, global custodians are finding themselves having to expand into some unfamiliar territory.

features3_01

Consolidation has been a recurring theme in custody for more than a decade, with global ...

Features : Miners Going Major

ANALYSIS - MINING



The world’s biggest mining companies look set to continue growing sharply as competition for resources continues to intensify.

features4_01
In the closing months of 2007, as investors fled equities and piled into commodities like gold en masse, spot ...

Newsmakers : Businesses Face Pressure To Cut Electronics Waste

United Kingdom


newsmakers_4

Davy: Scrapping computers is a huge
resource drain

Businesses are facing increasing pressure to consider the environmental impact of their IT purchasing habits as awareness grows of the vast amount of natural resources used in the production of ...

Features: Joining The Chain Gang

CORPORATE TOOLBOX


At the Sibos international banking conference in Atlanta in 2004, David Taggart, the treasurer of one of the world's most recognizable brand names, Coca-Cola, made a direct plea to the banks to deliver greater efficiencies to corporates ...

Cover Story: Asia's big year

Asia’s most dynamic economies are amassing huge cash fortunes that they can then wield to increase their power around the world. Will 2008 be the year when we t ruly see the balance of global power shift to the ...

2007

Cover Story : A Calming Influence

CENTRAL BANKERS PERSPECTIVES



Central bankers deserve much of the credit for the financial world’s ability to ride out tumultuous market conditions. Global Finance asked the central bankers who were awarded “A” grades in our recent central banker report cards ...

Milestones : Businesses Confirm That Green Begets Green

UK / GLOBAL

Milestone_Img2

Growing awareness: Firms see risk management benefits in going green

Multinational corporations are waking up to the fact that being “green” is not just for environmentalists. That was the message that came out of a Green Banking event ...

Features : The Wild East

RUSSIA

Russia’s greatest strength could also turn out to be its biggest weakness.


Features_Img6

Skyscrapers go up as some of Russia’s surplus is invested in infrastructure projects

Oil has been kind to Russia. In the past few years, as ...

Milestones : Integration Helps Firms Avert Risk

GLOBAL

Milestone_Img3

Firms are unprepared for risks such as terrorist attacks

Major companies are still struggling to come to grips with risk management, despite recent high-profile events such as the September 11 attacks, the London bombings, the threat of a global ...

Features : Clear Path

SECTOR REPORT / TREASURY & CASH MANAGEMENT

Large corporations are leaping at the chance to connect directly to the banks’ financial messaging network. Some of the banks are not so keen, though.



Afew years ago, many companies had probably never heard of ...

Newsmakers : Offshoring Industry Faces New Opponent: Its Clients

UNITED KINGDOM/UNITED STATES


newsmakers_01

Divett: Offshoring IT involves hidden costs.

Offshoring information technology services is an emotive subject that incites mixed responses from most companies. Although Wall Street financial firms were among the early adopters of outsourcing, sending their back-office ...

Milestones : Challenges Grow In Run-Up To New Payment Rules

EUROPE


milestones_02

Europe's payments landscape is set to change dramatically with market reforms.

Banks and companies in other parts of the world are watching with interest as the deadline for radical transformation of the UK and Europe’s cross-border payments ...

Features : World’s Best Banks

ANNUAL SURVEY / WORLD’S BEST BANKS

features_f01 At a time when the world economic outlook is more uncertain than it has been in years, the banking industry finds itself at the vortex of a financial market storm that originated in subprime ...

Features : Balancing Act

COUNTRY REPORT / BRAZIL


Buffeted by the shockwaves from the US subprime mortgage crisis, Brazil has to steer a steady course if it is to keep its economic development on track.

features_e01

Buffeted by the shockwaves from the US subprime mortgage crisis ...

Features : Central Banker Report Cards 2007

ANNUAL SURVEY / CENTRAL BANKER REPORT CARDS

features_h00 Individually, many of the world’s leading central bankers seemed to be in disarray after the subprime debacle began to unfold in mid-2007. As a group, though, they acted with remarkably unity. The central ...

Milestones : Sepa Rollout Faces More Hurdles

EUROPE


milestones3

Desmares: Corporates cool on SEPA.

Businesses and public sector organizations operating in Europe have until 2010 to abandon existing national payment instruments and adopt new pan-European credit transfer and direct debits. At least that is the central tenet of ...

Newsmakers : Trichet Urges Better Risk Control

EUROPE


newsmakers1

Trichet: Questions investors' reliance on credit ratings.

The subprime mortgage crisis in the US has forced the president of the European Central Bank (ECB) to speak out about the new sources of risk being created by the market’s ...

TCM Guide 2007 : Identity Solution

CORPORATE ID MANAGEMENT



As corporate treasury systems become increasingly automated, businesses and their banking partners are devising innovative techniques to ensure only authorized personnel can make payments.

tcm_01

Wendel: In approximately 25% of cases, account signatories are wrong.

Hans-Maarten van den ...

Cover Story : Waiting In The Wings

EU ACCESSION HOPEFULS



Preparing their economies for entry to the European Union is yielding dramatic results for accession candidates and providing inspiration for those that aspire to follow them.

coverstory_05

Kiev: Banking market set for sharp growth.

While EU accession has ...

Milestones : Banks On The Spot Over Internet Fraud

UNITED KINGDOM / GLOBAL

milestones_01

Brunswick: Banks are responding to threats.

The Internet has become a “playground for criminals,” and it is up to banks and other online service providers to make it safe for consumers to go online, according to a ...

Milestones : Booming Islamic Finance Faces Hurdles

GLOBAL

milestones_03

High aspirations: Islamic finance on the rise.

Excess liquidity and the tidal wave of petrodollars flooding into the Middle East are causing a surge of interest in Islamic finance. The growth rate of the industry is now approaching 20 ...

Newsmakers : Few Cities Attain ‘knowledge Hub’ Status

Europe

newsmakers_03

Stockholm: One of 15 knowledge hubs.

With just over two years to go, the European Commission’s Lisbon Agenda initiative to transform Europe into the most competitive and dynamic knowledge-based economy in the world by 2010 appears to be ...

TCM Guide 2007 : Europe Editor's Letter

Welcome to Global Finance’s annual Treasury & Cash Management Guide, in which we explore the latest trends and issues in the world of global cash management...

Cover Story : Living On The Edge

CENTRAL AND EASTERN EUROPE


The EU’s newest members struggle to balance growth with stability.

coverstory_01

Prague's stock exchange is one of many in the region that are attracting foreign investors.

Despite recent political maneuverings by Russian president Vladimir Putin ...

Milestones : London Takes The Lead For Commerce

Global

milestones_01

London: The "epicenter of world commerce"

London is perhaps best known for major tourist attractions such as Buckingham Palace, Tower Bridge and Madame Tussaud’s, but now it has a new moniker as the epicenter of commerce globally, according ...

Newsmakers : Corporate Fraud On The Rise Despite Sox

United states

newsmakers_01

Patrick Taylor: No "perfect solution" for fraud prevention

Five years ago, in the wake of the Enron and WorldCom scandals, Sarbanes-Oxley (SOX) was enacted to prevent financial fraud. However, a recent survey of more than 80 US fraud ...

Features : Change Agents

CUSTODY & INVESTORS’ SERVICES


Over the past three decades, the global custody and investors’ services industry has facilitated some of the most dramatic and far-reaching changes in the global financial services landscape.

features_change_agents01 More than 30 years ago Chase Manhattan bank in ...

Milestones : Future Of Terrorism Insurance Hangs In The Balance

United states

Most companies take out some form of professional indemnity, liability and business insurance, but the latest addition to companies’ insurance portfolios is property terrorism insurance. Such products are becoming increasingly prevalent among larger to mid-size US companies in ...

Features : Big Banks Eye Micro Market

SECTOR REPORT / MICROFINANCE


Some of the world’s biggest banks are taking an interest in lending to some of the world’s smallest potential customers.


microfinance_01 After her husband died, Adija Msw was left destitute with an extended family of 12 ...

Features : Open Access

FOCUS / TREASURY MANAGEMENT


On-demand software services are making increasingly sophisticated treasury management systems available to a much wider range of companies.


tcm_01 Atypical day in the life of a corporate treasurer entails managing the company’s cash, ensuring sufficient funds are ...

Features : Bruised But Not Beaten

UKRAINE



Amid the growing political turmoil in Ukraine, the country’s economy is proving remarkably resilient.

cntr_report_ucrania01
When thousands of protesters took to the streets of Kiev, the Ukrainian capital, at the end of March, to outside observers it must have ...

Newsmakers : Mergers And Acquisitions: A Dangerous Game

EUROPE

News_Imagen_2

Derain: Accuracy
is the secret

With the pace of corporate M&A; showing no signs of abating, a study of more than 200 European deals in the past two years indicates that few mergers—just 9%, in fact—are ...

Cover Story : Rising Stars

EM SPOTLIGHT - ASIA

cover_story04

Dream town: The futuristic city of Shanghai symbolizes Chinas economic resurgence

Throughout the 1980s and 1990s, foreign investors looked to the East for investment and higher growth opportunities. East Asia did not disappoint, with GDP in some ...

Milestones : Exchange Chalks Up First Chinese Listing

GERMANY/CHINA

Image_1

Deutsche Börse

Although shares in Chinese companies have been traded on the Börse before, this is the first time a Chinese company has listed on the Frankfurt exchange. Historically, most Asian companies sought listings on US exchanges, but ...