Kuwait Financial Centre (Markaz) has been among the Arab region’s leading asset management and investment banking institutions since 1974. Speaking with Global Finance, CEO Manaf Alhajeri explains that economically challenging times have a bright side: a chance to find value for long-haul investors.
Monetary Policy | Capital Markets
Casting aside concerns about the strong dollar and weakness in economies abroad, the Federal Reserve achieved an historic interest rate liftoff in mid-December.
As volatile currencies toy with the bottom lines of global companies, corporate treasurers are paying a lot more attention to foreign exchange.
Capital Markets | Banking Licenses
Saudi Arabia cracked open the door to direct investments in its stock market by qualified foreign institutions in June, when HSBC became the first foreign firm to receive a license.
Fixed Income | With this summer’s Greek debt crisis having abated somewhat and the European Central Bank (ECB) considering expanding its easy-money policies, US companies are rushing to the eurozone to issue debt at record-low interest rates.
Global Finance’s annual evaluation of the work of the world’s central bankers found some stellar performances, and some dismal ones. The toughest challenge for many: propping up falling prices.
Arabia is meeting with some success in its efforts to entice foreign investors to six new economic cities in the kingdom.
With the country’s oil revenue set to slide by about 30% this year, privatization is a largely untapped resource.
FX Reserves | China’s foreign exchange reserves plunged by nearly $94 billion in August, the most ever in a single month, as the People’s Bank of China (PBoC) struggled to support the renminbi after devaluing the currency by 1.9%.
Management | Leadership Challenge
Nearly two out of three chief financial officers worldwide aspire to become chief executives of their company, but relatively few succeed in occupying the corner office.
Capital Markets | Economic Transition
As China makes the transition to a consumer-led economy, it has the potential to generate an incremental $15 trillion in consumer spending over the next decade, according to a report by think tank The Demand Institute.
Capital Markets | Foreign Exchange
The surging dollar, falling euro and plunging emerging-markets currencies had a record $32 billion negative impact on the earnings of companies in North America and Europe in the first quarter, according to Scottsdale, Arizona‒based FiREapps, which helps corporations measure and manage foreign exchange exposure.
Regional wealth funds, free-trade zones and the Saudi Stock Exchange are expected to boost GCC economic growth and spur development—even if oil doesn’t cooperate.
Global Finance Honors a Japanese powerhouse and a Spanish superstar as Top Of Class for 2015.
GCC Regional Report 2015 | Special Economic Zones
Special economic zones are allowing GCC countries to diversify their economies away from oil and provide jobs to their citizenry.
Capital Markets | Debt
Jaws dropped in June, when scandal-plagued Petrobras, the Brazilian oil company, announced plans to come to market with a 100-year bond. Who in their right mind would lend $2.5 billion for a century to an emerging markets company that in April wrote off $17 billion in overvalued assets and billions more in bribes?
Capital Markets | M&A Antitrust
Antitrust authorities around the world are stepping up their merger-monitoring activities amid a boom in cross-border M&A. They’re increasingly requiring merging companies to divest assets to win approval for their deals. In some cases, complex requirements are causing corporates to abandon proposed combinations.
Capital Markets | M&A Pharmaceuticals
In what could become Israel’s biggest cross-border M&A deal ever, Teva Pharmaceutical Industries made an unsolicited $40 billion offer to acquire Mylan, a Pennsylvania-based drugmaker registered in the Netherlands with operational headquarters in the UK.
Capital Markets | Project Finance
Brazil’s multinational metals and mining group Vale has signed a $2.1 billion agreement with the Export-Import Bank of Korea.
Capital Markets | Debt
Issuance of green bonds, which raise funds to support environmentally beneficial activities, more than tripled last year, to $36 billion, according to the World Bank.
Commodities | Desperate for cash to purchase imports, oil-rich Venezuela pawned part of its gold reserves as collateral for a $1 billion loan from Citibank.
Capital Markets | Mergers & Acquistions
Boutique investment banks are eating the lunch of Wall Street’s bulge-bracket firms.
Capital Markets | Fixed Income
Hungary’s biggest financial scandal, which broke earlier this year, involved the alleged issuance of more than $500 million of phony bonds by Quaestor Financial Hrurira. The brokerage was one of three firms charged with fraud.