Milestones : Financial Leaders Call for Unified Regulation

Europe/United States


Paul Druckman

With companies on both sides of the Atlantic contemplating a raft of regulatory measures around financial accounting, leading European commentators called on European and US regulators to seek a “common international approach.”

In a damning ...

Emerging Markets : Companies To Watch: Oyak Group/Turkey

Pension Performer


Coskun Ulusoy

The Oyak (Ordu Yardimlasma Kurumu) Group, Turkey’s first and largest private pension fund, has built itself up to become the country’s third-largest industry conglomerate behind the family-owned Koc and Sabanci groups. Described by some ...

Emerging Markets : Sovereign Bonds Find Favor


In EU accession countries such as Turkey, eurobond sovereign order books are being met with strong investor interest. “The pull towards EU membership is going to make Turkey increasingly attractive,” says Martin Hibbert, managing director, Deutsche Bank. Turkey’s ...

Emerging Markets : Emerging Europe Market Activity Grows

DR News



Debt instruments such as convertible bonds and securitization are growing forms of investment in emerging markets, says Michael Cole-Fontayn, managing director, global issuer services, The Bank of New York. But, Cole-Fontayn says, depositary receipts are still the ...

Features : Europe’s Exchanges Poised for Power Struggle

Exchange Change
Tension is running high in London’s financial district as two rival European exchanges make a play for the venerable London Stock Exchange.

Given the publicity surrounding Deutsche Börse’s £1.35 billion bid for the London Stock ...

Milestones : Growth-Hungry Investors Chase the Wrong Markets


msart02 Investors looking for high stock market returns in rapidly growing economies such as China and India are likely to be disappointed, a new study has found. Based on equity return and dividend growth data from 17 markets spanning 105 ...

Milestones : Outsourcing Myths Dispelled


Outsourcing has gone in and out of fashion, with various studies debating the pros and cons of farming out business processes to a third-party provider. Yet a study commissioned by Accenture dispels some commonly held beliefs among finance directors ...

Features : Paperless Payment Processing Gains Popularity

Pushing Paper Aside
Despite the long-acknowledged advantages of electronic processing of invoices and payments, companies have been slow to let go of paper. The Web is changing all that.

For the past 20 years, technology vendors have tempted companies with ...

Features : Custodians Push Toward A New Frontier

Changes in clients’ needs are driving global custodians beyond their traditional roles


Placido: "Margin pressure is forcing the closer integration of vanilla-execution and post-trade processing"

For almost a decade consolidation and the drive to reduce costs has characterized the global ...

Features : Cards That Count The Costs

An increasing focus on corporate expenditure and on transparency is bringing a renewed focus on the potential benefits of corporate credit cards and purchasing cards.

feart05a In sharp contrast to the consumer world, commercial cards are not necessarily equated with unbridled ...


Features : A Matter Of Principles

Eighteen months ago a group of leading project finance banks adopted the Equator Principles. They are now under attack from critics who claim the banks were more interested in profits and PR than in principles.

On June 4, 2003, 10 ...

Milestones : Se Habla Español

The Americas

NM-02-04 Anyone who has called a US bank’s call center recently has heard the ever-popular command of “Press 1 for English, Press 2 for Spanish.” It seems banks have finally discovered the US Hispanic market.
The 40 million ...

Newsmakers : Ngos Boycott Ifc Policy Review

NM-01-01 The IFC refutes claims that its review of environmental and social safeguard policies constitutes a watering down of current standards and that the consultation process is “deeply flawed.” In an effort to make its current safeguard policies, which ...

Cover Story : World’s Best Companies List


CEO and Director: David Neeleman

After gaining passenger loyalty in the US with its goal of “bringing humanity back to air travel,” JetBlue went international this year, adding flights to two Caribbean destinations. The airline ...

Features : Check 21 Pushes Paper Checks Closer To Oblivion

New legislation paves the way for the elimination of the 40 billion checks in circulation in the US today.

22 It has been likened to the stampede that surrounded Y2K as banks invested millions preparing their computer systems to counteract the ...

Cover Story : World’s Best Banks


A growing global economy made it some-what easier to be a banker in the past 12 months, as credit risks generally de-clined and de-mand for bank-ing services was brisk. The skills of the world ...

Milestones : Low Productivity Costs The British Economy Billions

United Kingdom


Perceptions of the UK’s international competitiveness have suffered a blow with studies indicating that low productivity is costing the economy £87 billion annually. According to a study conducted by Proudfoot Consulting, the banking and finance industry is ...

Newsmakers : Hedge funds under increasing scrutiny

United States


An SEC proposal to register hedge fund advisers has received a mixed response, with some welcoming it as long overdue and others saying it could impose a regulatory burden that would mean the SEC was less able to ...

Newsmakers : Companies told to pull their sox up



Lewis:“Producing correct numbers
may be impossible”

with the first Sarbanes-Oxley (SOX) deadline imminent, analysts and systems vendors paint a picture of companies struggling to comply with regulators’ requirements for higher levels of visibility and transparency into company financials ...

Features : Arrested Development

With their educated workforce and low costs, the Baltic states present some of the most interesting FDI opportunities in Europe. So why are they still struggling to attract investment?


Two years ago, a British laboratory equipment manufacturer, Grant Instruments, stumbled ...

Newsmakers : Businesses Focus On Customer Service Risk


Newsmakers_Sep_04_3 The Enron accounting scandal may have sparked a wave of knee-jerk regulatory measures (Sarbanes- Oxley,FAS 133),but Europe’s top 1,000 companies are more concerned with the risks associated with poor customer service, a new study indicates ...

Features : Breaking With The Bank

In-house banks are becoming increasingly popular among larger multinational corporations.
They may not work for all big companies, though.

Petroleum giants BP and Shell each have one. So do Dutch electronics company Philips and the US communications network provider Lucent ...

Features : Asia’s Other Tiger

India recently overtook China as Asia’s fastest-growing economy. It’s showing no signs of slowing down.

India has long been a land of stark contrasts, and its recent economic growth has only added to them. Although constrained by poverty ...

Features : Outward Bound

The market for outsourcing treasury services is snowballing as products become more refined and corporations grow more confident in the process.

26 Outsourcing has become a hot topic in the American media only in the past few months, but in 1989 ...

Features : Brought to Book

New accounting rules covering derivatives and hedging transactions will have profound implications for corporations. They may affect the viability of some common transactions.



Rob de Gidlow, treasury consultant for JPMorgan
Treasury Services

Even before accounting scandals such as Enron unfolded ...


Features : CLS: Settling for Less

CLS Bank was introduced to address foreign exchange settlement risk in the interbank market,but its risk-reduction and netting benefits could find wider application among corporate treasurers and fund managers.

The specter of foreign exchange settlement risk has preoccupied the ...


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GLOBAL FINANCE A PIONEERING VOICE FOR MODERN FINANCE   Global Finance is a monthly magazine founded in 1987 by publishing entrepreneurs Joseph Giarraputo and Carl Burgen. Giarraputo continues as Publisher and Editorial Director. Its mission is to help corporate leaders, ...