Capital Markets | Mergers & Acquisitions
German auto manufacturers Audi, BMW and Daimler have acquired the Finnish company Nokia’s high-precision digital mapping service Here for €2.8 billion ($3.1 billion).
Capital Markets | Mergers & Acquisitions
Global Finance explores the tech future of Payments and branding with Deniz Devrim Cengiz, head of digital banking at Türk Ekonomi Bancasi (TEB), (BNP Paribas Turkey)
The appointment of former Goldman Sachs executive Michael Evans as president of Alibaba is the latest move in the Chinese conglomerate’s attempts to expand its business beyond its domestic base.
Mayank Mishra, Citi’s managing director and global head of online banking and connectivity services, describes balancing global digital solutions with the specific needs of corporate clients.
SIBOS Supersection 2015 | Fintech – Innovation Centers
In today’s virtual world, fintech development can take place anywhere. With funding for start-ups split 50:50 between traditional financial centers and elsewhere, the race is on to attract the hottest young firms.
SIBOS Supersection 2015 | Fintech–Blockchain Technology
Freed from bitcoin, could the blockchain, or blockchain lite, become the underlying infrastructure behind better banking?
Milestones | Zimbabwe
The demonetization of the Zimbabwean dollar began in June and holders of the near worthless currency have until September 30 to exchange it for US dollars.
Scotland still brings in more foreign direct investment than many larger countries. Last year it again headed the list of top UK destinations outside London.
Special Report | Bitcoin
Cryptocurrencies like Bitcoin that exchange digital information are a disruptive area for banks. The industry at first dismissed such currencies, but is now looking at how Bitcoin could change their business.
Special Report | Fintech
By putting customers first, fintechs are using technology to provide more responsive and cost-effective financial solutions for clients.
China | Chinese ecommerce company Alibaba’s new CEO, Daniel Zhang, is a star, credited with the success of Tmall.com and the November 11 Singles Day—an online buying bonanza that has overtaken Black Friday as the most lucrative online shopping day of the year.
Cryptocurrencies, unlike fiat money, are, by definition, more a commodity than a pure currency, giving them compelling appeal for Islamic finance—because renting a commodity is in line with the principles of shariah, unlike lending based on interest.
Milestones | France
The French government temporarily increased its stake in French carmaker Renault to nearly 20% ahead of the company’s annual general meeting in April.
FDI Update | FDI Magnet
Countries that dismantled protec-tionist policies are still attracting FDI, despite the commodities bust. Others aren’t doing so well.
Launched just three years ago, FCM Bank is the only bank in Malta to specialize solely in savings and fixed-term offerings. During a talk with Global Finance, chief operating officer Vincent Ma explained why FCM Bank has zeroed in on those two products.
In an interview with Global Finance, Andrew Géczy, ANZ’s CEO of international and institutional banking (IIB), talked about Asia’s remarkable growth—and why the region’s financial system will likely overtake the combined US and European markets by 2030.
Supply chain vulnerabilities can have long-term consequences, so a country’s resilience to disruptions is a major boon to companies seeking to locate operations.
with Ali Khalpey, Exotix
Newsmakers | United Kingdom
The appointment of Bill Winters to replace Peter Sands as CEO of Standard Chartered has been universally welcomed, as the troubled bank saw profits fall by 30% last year compared with 2013 levels.
High Tech Sector
Playing to its youthful strengths, the Middle East has enormous high-tech potential but still has room to grow.
with Jan Rasmussen, Nordea Markets
Consumer Products Sector
The region’s largest retailers continue to expand, as do multinational companies, in this growing markets.
McDonalds appointment of British-born Steve Easterbrook as its new CEO has both surprised and delighted analysts—concerned by the burger behemoth’s first annual decline in 30 years.
Q&A | Supply Chain Finance
Tomáš Hron, head of global transaction banking, UniCredit Bank, Czech Republic and Slovakia, on the limits of digitization in trade and the supply chain.
Newsmakers | Malawi
Friday Jumbe is set to become the latest African finance minister to swap his political ambitions to take up a senior post in a development bank.
Milestones | European Union
Regulators had Web giants like Google and Apple in their sites when they framed a new value-added tax (VAT) regulation for businesses selling digital products into the European Union
Q&A | Supply Chain Finance
Nadya Talhouni, senior vice president and head of trade finance and cash management at Arab Bank, says MENA banks are well placed to handle business needs previously covered by European banks.
After four years of challenges in the social, economic and political space, Egypt rolls out the welcome mat for foreign direct investors.
Without the need for being either a skilled mathematician or uber-geek. The Age of Cryptocurrency includes everything you could possibly want to know about cryptocurrencies.
Qatar | Newsmakers
Sheikh Abdullah bin Mohamed bin Saud Al-Thani, a member of Qatar’s ruling family, was appointed CEO of the Qatar Investment Authority (QIA) as part of a reshuffle that includes the addition of other Al-Thani family members.
North America | FDI & Economic Development Update
Knowing their target markets helps northern US states and Canadian provinces compete with the southern US for foreign direct investment.
A major blot on the country’s wholesome image is the questionable behaviour and ethics of some of its mining and energy companies both at home and overseas
Last year ended with a data breach of the US retailer Target, this year "The Sony Hack". What will 2015 hold for cyberattacks and cybersecurity?
How significant is a digitized, simplified, single platform to trade finance?
What is the key consideration in adopting a digitized banking strategy?
Tunisia | Newsmakers
Elections in Tunisia in October, which saw the secular Nidaa Tounes party (39.7%) narrowly beat the incumbent Islamic party, Ennahda (31.8% of the vote), were widely praised for being free and fair. Questions remain, however, about their democratic robustness.
Newsmakers | United States
HP CEO Meg Whitman’s volte-face announcement to split the company in two has drawn a lot of speculation about, and criticism of, the motives behind the decision.
Indonesian president Susilo Bambang Yudhoyono has just announced seven new infrastructure projects, worth $1.1 billion, as part of master plan to accelerate and expand Indonesia's economic development.
NEWSMAKERS | UNITED STATES
The technology community has warmly welcomed the appointment of Megan Smith as the next chief technology officer of the US.
In this first installment of a two-part series, Global Finance identifies the top online corporate and consumer banks by country and then by region, according to product or service category.
Much has been made of the rush to reshore manufacturing operations by US and European companies over the past couple of years, but very few have brought significant production back home, and those that have, to much fanfare, have also done so in China, India and other markets.
Although there have been no attacks or payouts in the 12 years since its original passage, the Terrorism Risk Insurance Act in the US is set for renewal again, despite the fact that it was only intended as a temporary measure to protect the commercial insurance market and its customers following the attack on the Twin Towers.
The recent raft of Chinese investments into Russia following president Putin’s May visit to Shanghai might look like a rapid response to counter Western sanctions.
Nigeria’s first shariah-compliant bond, a $62 million issue by Osun state late last year, could be the start of an Islamic finance boom in Africa.
COVER STORY: CRYPTOCURRENCIES
Still in their infancy, cryptocurrencies could change the way that companies manage payments for the goods and services that are the essence of global trade. As the bitcoin surge picks up momentum, corporate financial executives are wondering what it means for their business and how they can manage the risk of adopting—or not adopting—digital currencies.
“Bob Diamond exists to make money for Bob Diamond, whatever he says. This isn’t to help develop Africa, it’s to make money for Bob Diamond and his partners.”
Madagascar’s new prime minister, Kolo Christophe Laurent Roger, has vowed to revive the island’s economy, helping it become a true emerging market, and reinforces the promise of president Hery Rajaonarimampianina, when he was elected in December 2013, to lure foreign investors and tourists back to Madagascar.