ExonMobil’s CEO Rex Tillerson went overnight from dark-horse candidate to president-elect Donald Trump’s nominee for secretary of State. If confirmed, Tillerson might prove to have the toughest position in the new cabinet as he wrestles with strife around the world and a new relationship with Russia.
Naspers Group Head of treasury Jaco van der Merwe talks with Global Finance about managing complex foreign exchange transactions.
Singapore chosen as a top fintech hub in Connecting Global FinTech: Hub Review 2016 by Deloitte and All Street Research.
After 17 years of construction, the Gotthard Base Tunnel, connecting Northern and Southern Europe through the Alps, opened to great fanfare on June 1, and shone a light on years of lax investment in infrastructure by European nations generally.
Capital Markets | Regulation
“Nothing will make us deviate or change our course. We are not exiting our operations in any of our African markets,” declared Maria Ramos, CEO of Barclays Africa.
Nordea Markets Investment Banking is an integrated part of wholesale banking in the Nordea Group. A move from different legacy systems to one single platform is part of Nordea’s simplification program. Svante Andreen, Nordea co-head of markets investment banking, expects the move to foster agility, enabling Nordea to become a truly digital bank.
Capital Markets | Privatization
Russian president Vladimir Putin is pinning his hopes on privatization to help ease Russia’s 2016 budget deficit, which, according to some estimates, could reach $38 billion, or 6% of GDP.
Cuba: News that Anglo-Dutch consumer products company Unilever will return to Cuba to build a $35 million plant in the special development zone at the port of Mariel, about 40 kilometers west of Havana, is one of the clearest signs yet that the communist nation is taking a more pragmatic approach to foreign direct investment.
Japan’s Financial Services Agency is preparing legislation allowing the government to relax restrictions on fintech investment, promising a technological jolt to one of the world’s biggest financial markets.
FinTech | Trends
The launch of the blockchain-enabled asset trading platform Nasdaq Linq, Goldman Sachs’ filing of a patent for a securities settlement system based on a new virtual currency called SETLcoin, and the continued rise of blockchain banking consortium R3 all point to a race by financial institutions to harness the power of the blockchain.
Trends | Fintech
China’s Big Three Internet and e-commerce companies—Baidu, Alibaba and Tencent—are so big they are referred to collectively as BAT, and all three have received banking licenses and scaled up their e-commerce and finance platforms.