2014

Terminal Velocity: Brazil Sells Airports

EMERGING MARKETS ROUNDUP By Antonio Guerrero Two international consortia won the latest round of Brazilian airport privatizations, in deals totaling $9 billion. One consortium, which includes Brazilian construction company Odebrecht and Singaporean airport operator Changi, paid $8.24 billion for ...

2013

Africa: Chad's Pipeline Dreams

EMERGING MARKETS ROUNDUP By Antonio Guerrero Despite declining oil output levels in recent years, Chad is expecting to triple production by 2015 as new oilfields near Lake Chad begin operations. Output is forecasted to rise to 200,000 barrels per ...

Latin America: Dark Days

REGIONAL REPORT: ENERGY INFRASTRUCTURE   By Antonio Guerrero   Vast investments in energy infrastructure are needed in the region not only to bring more of the current population onto the grid, but also to ensure that capacity meets demand, going forward.   When ...

Cover Story: World’s Best Banks 2013

TECHNOLOGY IS THE TRUMP CARD By Jonathan Gregson, Antonio Guerrero, Anita Hawser, Gordon Platt and Michael Shari Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have all demonstrated dedication to satisfying ...

Central Banker Report Cards 2013

‘A’ FOR EFFORT, ‘B-’ FOR RESULTS By Antonio Guerrero, Anita Hawser and Gordon Platt Global Finance presents its annual report on the performance of the world’s central bank governors. There are a lot of new faces among the world ...

Brazil: Odebrecht Grows Infrastructure

EMERGING MARKETS ROUNDUP By Antonio Guerrero Odebrecht Offshore Drilling Finance, a division of one of Brazil’s largest privately-held industrial and engineering conglomerates, reopened the international capital markets for Brazilian issuers in July by selling $1.7 billion in bonds ...

Country Report: Nigeria

THE RIGHT ROUTE FOR GROWTH


By Antionio Guerrero

Nigeria has averaged 7% growth over the past decade. But effectively managing its continued expansion is proving problematic. Infrastructure investment is a key challenge.

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The Nigeria stock exchange building in the central ...

Emerging Markets Roundup: Brazil

BRAZILIAN PORTS OPEN TO PRIVATE INVESTORS

By Antonio Guerrero

The Dilma Rousseff administration signed into law new regulations that open the country’s ports to greater private-sector investments.

Approved in June, the policies are expected to help attract up to ...

World's Best Banks 2013: Europe

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

TOUGH TIMES CONTINUE IN EUROPE

Europe remains mired in recession. Apart from Germany and the Nordics, major European economies are either flatlining or, as among the southern peripherals, contracting further as ...

World's Best Banks 2013: Africa

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

MOBILE BANKING STIMULATES ECONOMIC GROWTH IN AFRICA

Africa is one of the fastest-growing markets in the world for mobile payments. Money transfers using mobile phones will exceed $200 billion in the ...

World's Best Banks 2013: Middle East

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

CONSERVATIVE LENDING AND RECORD EARNINGS IN THE MIDDLE EAST

Many of the largest banks in the Middle East posted record earnings in 2012, as they continued to pursue conservative lending policies ...

World's Best Banks 2013: Latin America

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

LOCAL BANKS INCREASE MARKET SHARE

While European banks have dominated Latin America’s banking sector for more than a decade, their stronghold has recently weakened. Some have sold local assets to ...

World's Best Banks 2013: Asia

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt

REGIONAL ECONOMY ON SOLID GROWTH PATH

Asia’s regional economy continues to grow steadily, despite the tepid recovery in the United States and sovereign debt issues in Europe. The region’s ...

Emerging Markets Roundup: Brazil

BUYING SPREE TO CONTINUE FOR ICONIC US BRANDS


By Antonio Guerrero

Brazilian billionaire Jorge Paulo Lemann of 3G Capital continued his buying spree of major US consumer brands, this time joining forces with Berkshire Hathaway’s Warren Buffett in a ...

Emerging Markets Roundup: Africa

CHEVRON BOOSTS ITS INVEST-MENT IN AFRICAN BLACK GOLD

By Antonio Guerrero


Global oil group Chevron approved a $5.6 billion development project in Angola.

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The Mafumeira Sul offshore oil field will be its second-largest African investment, after the Agbami field ...

Regional Report: Latin America

VIVID LANDSCAPE IN FOREST PRODUCTS

By Antonio Guerrero

Despite currency volatility and slowing demand from China and Europe, Brazil, Chile and other key Latin American markets continue to churn out wood pulp for export, and the sector is seeing increased ...

Emerging Markets Roundup: Brazil

BANKS PITCH IN TO HELP BOOST ECONOMIC GROWTH

By Antonio Guerrero

Brazilian private-sector banks pledge to increase lending this year, according to Finance minister Guido Mantega.

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Following a meeting with bankers in February, the minister said banks plan to increase ...

Emerging Markets Roundup: Brazil

TRUMP TO BUILD OFFICE TOWERS IN REDEVELOPED RIO PORT


By Antonio Guerrero


New York billionaire investor Donald Trump will launch Trump Towers Rio, his first Brazilian venture, with an estimated $4 billion investment.

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The complex of five 38-story office towers ...

Emerging Markets Roundup: Africa

S OUTH AFRICA MOVES CLOSER TO JUNK STATUS WITH DOWNGRADE


By Antonio Guerrero

South Africa’s weakened economy pushed it closer into junk territory, as Fitch Ratings further downgraded its sovereign rating in January.


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The agency cut the country’s ...

Emerging Markets Roundup: Africa

G HANA INVESTS IN RENEWABLES


By Antonio Guerrero


UK-based Blue Energy will invest $400 million to build Africa’s largest solar photovoltaic power plant in Ghana.

The Nzema project will produce 155 megawatts, increasing the country’s generating capacity by ...

Emerging Markets Roundup: Brazil

BP TO EXPAND ETHANOL PRODUCTION


By Antonio Guerrero

Aiming to accelerate industrial growth, the Brazilian government extended its PSI investment program through 2013, providing $48 billion in financing to support subsidized loans for industrial producers to invest in capital goods ...

2012

Emerging Markets Roundup: Africa

AfDB SEEK TO REPATRIATE FOREIGN RESERVES

By Antonio Guerrero

The African Development Bank, (AfDB) a regional development bank based in Tunisia, is working to bring a portion of Africa’s $500 billion in foreign reserves held abroad back to the ...

Emerging Markets Roundup: Brazil

BRAZIL TO REVIVE MBS TAX EXEMPTIONS

By Antonio Guerrero

The Brazilian government is looking to revive the market in mortgage-backed securities by providing tax exemptions for foreign investors, following a nearly 50% decline in sales of new debt supported by ...

Emerging Markets Review: Sustainable Growth In Latin America

SUSTAINING MOMENTUM


By Antonio Guerrero


Prolonged Western concerns and slowing in China are beginning to affect the region’s outlook. It will be up to Latin America’s largest economies to keep the impetus alive.

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According to the IMF’s ...

Emerging Markets Roundup: Africa

COMMODITIES BOOM SEES AFRICA OUTPACE GLOBAL GROWTH


By Antonio Guerrero

African economic growth is outpacing the global average for the first time, according to a World Bank report, with such sub-Saharan countries as Sierra Leone, Niger and Angola leading the ...

Latin America: Rise Of The Mexican Jaguar

RISE OF THE “JAGUAR”

By Antonio Guerrero

Mexico’s new business-friendly president has promised to open up state-owned oil companies to private investment. If so, Mexico could overtake Brazil as the region’s largest economy within a decade.

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Latin America: Brazilian Protectionism

BARRIERS TO ENTRY

By Antonio Guerrero

Though its economic growth may be stalling, Brazil is still an attractive destination for investors. But the recent imposition of tariffs on certain imports has sparked an international ruckus.

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For several years now, the ...

Emerging Markets Roundup: Brazil

NEW PLANT WILL CASH IN ON DEMAND FOR SILICON WAFERS

By Antonio Guerrero

The BNDES national development bank and BDMG development bank for the State of Minas Gerais joined forces with Brazilian billionaire Eike Batista and other investors to establish ...

World’s Best Banks 2012: Regional Winners

By Gordon Platt, Thomas Clouse, Jonathan Gregson & Antonio Guerrero

Regional Winners

BEST BANK IN NORTH AMERICA

JPMorgan Chase


JPMorgan Chase is the top US bank by assets. “For America’s largest companies, we raised or lent over $720 billion of ...

Central Banker Report Cards 2012: Asia-Pacific

By Gordon Platt, Antonio Guerrero and Anita Hawser

ASIA-PACIFIC

AUSTRALIA

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Glenn Stevens

Grade: A

Stevens has his hands full managing an economy with booming mining and financial sectors and weakness elsewhere. So far, he has managed to keep the overall ...

Africa: Oil & Gas

DIFFFICULT CHOICES

By Antonio Guerrero

African oil producers stand to benefit from continued sanctions on Iranian oil exports. But their path is not without challenges.

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As the US and EU tighten the screws on Iran, imposing sanctions on Iranian oil ...

Emerging Markets Roundup: Africa

INVESTOR FEARS RISE ON MINE STRIKES


By Antonio Guerrero

Violent strikes at South Africa's Marikana platinum mine, operated by UK group Lonmin, could impact investment flows.

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Violence mars Marikana mine strikes

Photo Credits: MIKE HUTCHINGS / REUTERS

The strike over ...

Emerging Markets Roundup: Brazil

ROUSSEFF PLANS $66 BILLION IN INFRASTRUCTURE INVESTMENT


By Antonio Guerrero

In a bid to reverse Brazil's recent economic slowdown and boost competitiveness, president Dilma Rousseff in August unveiled a nearly $66 billion infrastructure investment program for roads, and is ...

World’s Best Banks 2012: Global Winners

By Gordon Platt, Thomas Clouse, Jonathan Gregson & Antonio Guerrero

Global Winners

BEST CORPORATE BANK

Deutsche Bank

Deutsche Bank, the largest bank in Germany, is a leading global corporate and investment bank and has long been the top foreign exchange bank ...

Emerging Markets Roundup: Brazil

BRAZILIAN COURT GETS TOUGH ON DRILLERS


By Antonio Guerrero

Following a series of oil spills off the coast of Rio de Janeiro this year, a Brazilian court has ordered Chevron and driller Transocean to halt all drilling and transportation operations ...

Emerging Markets Roundup: Africa

ZIMBABWE'S BANKS TOLD TO BOLSTER CAPITAL RESERVES


By Antonio Guerrero

With the goal of stabilizing the financial system in mind, Zimbabwe's Reserve Bank has boosted minimum capital requirements for banks by as much as 900%.


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Zimbabwe’s banks ...

Emerging Markets Roundup: Brazil

TIME-OUT FOR BRAZIL'S GROWTH BOOM

By Antonio Guerrero

Brazil's growth explosion could be ending. The Brazilian central bank in June cut the official growth target from 3.5% to 2.5% for 2012, after first-quarter GDP expansion was ...

Emerging Markets Roundup: Africa

FEELING THE EFFECTS OF ECONOMIC CONTAGION

By Antonio Guerrero

The Africa Finance Corp, a multilateral finance institution based in Nigeria, says it has a pipeline of sub-Saharan investment projects worth $3 billion over the next year. The AFC has already ...