2013

Debt: Saudi Sukuk Market Heats Up

CORPORATE FINANCING NEWS: CORPORATE DEBT


By Gordon Platt

A series of three major sukuk issues in Saudi Arabia in the first week of April demonstrated the growing depth of the debt capital markets in the kingdom, where corporations are diversifying ...

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 ...

FX: Cyprus Fallout Weighs On Euro

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE


By Gordon Platt

The euro slumped to a four-month low in the aftermath of the bailout of Cyprus, as market participants worried about the implications for other countries on the periphery of the eurozone. Although ...

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 ...

Equity: NYSE, Mexican Exchange Top IPO Charts

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS


By Gordon Platt


The New York Stock Exchange and the Mexican Stock Exchange were the top exchanges for initial public offerings in the first quarter, according to research firm Renaissance Capital.


The once-sleepy Mexican ...

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 ...

M&A: Falling Yen Hits Overseas Buying

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS


By Gordon Platt

The falling yen is raining on Japan’s parade of overseas acquisitions, which had a record-breaking year in 2012, when the yen was rising. The first three months of 2013 constituted the ...

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 ...

Middle East 2013: UAE: Visions Of Splendor

VISIONS OF SPLENDOR

By Gordon Platt

Investor confidence has returned to the UAE, with the former debt-laden emirate of Dubai once again planning major infrastructure projects. Even a new financial center is planned for construction.

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Dubai continues to dream big ...

Debt: Bond Market Rally Losing Steam

CORPORATE FINANCING NEWS: CORPORATE DEBT


By Gordon Platt

Investors have piled into US treasury bonds in recent years to escape such financial scares as the eurozone debt crisis and slowing growth in China.


Analysts warn that the bond rally is ...

Annual Supplement: Middle East 2013

WELCOME TO THE FUTURE

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Photo Credits: RITU MANOJ JETHANI/ Shutterstock.com

Passengers arriving at Dubai International Airport on Emirates’ double-decker Airbus 380 aircraft taxi up to a new $3.2 billion dedicated terminal, Concourse A, which opened in February. After ...

Middle East 2013: Ethical Banking

THE ALLURE OF ETHICAL BANKING

By Gordon Platt

Islamic banks in the Gulf region are tapping into growing demand for ethical banking and are upping their game in structuring sukuk and wholesale banking services.

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Ethical banking services continue to be ...

M&A: Megamergers Raise Hope for More

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS


By Gordon Platt


With the stock market hitting record highs and confidence growing in the US economy, dealmaking has accelerated dramatically. A series of megamergers has unleashed a spirit of optimism about the prospects for ...

Middle East 2013: Jordan’s Uphill Battle

BRIDGING THE GAPS

By Gordon Platt

Jordan has a difficult road ahead as it implements economic and political reforms as part of an IMF loan package and deals with the spillover from unrest in neighboring countries.

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Jordan’s economy is ...

FX: Dollar In Long-Term Bull Trend

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE


By Gordon Platt

The dollar has been in a long-term declining trend against the major currencies for nearly a decade, losing about 40% in value, but analysts say it is no longer weakening in periods ...

Middle East 2013: Seeking Unity On GCC

SEEKING UNITY

By Gordon Platt

GCC members continue to pay lip service to economic and political union, but experts say much more needs to be done on the military, security and development fronts before that can happen.

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Photo Credits: DR ...

Equity: Rising Stock Market Fires Up IPOs

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS


By Gordon Platt


A rising tide lifts all ships, and the bull market in stocks is enabling a number of technology and housing-related companies, particularly in the US, to float initial public offerings.

Total ...

Middle East 2013: Transition Economies

DEFYING EXPECTATIONS

By Gordon Platt

For many, the Arab Spring symbolizes years of painful economic and political reforms ahead. But financial institutions are upbeat about the region’s prospects, noting that markets such as Iraq and Libya continue to outperform ...

Equity: BRICs To Lead DRs In 2013

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

Companies based in emerging markets will continue to rely on depositary receipts as an important means of financing their growth in 2013, taking advantage of continued global investor interest in the ...

Debt: Distressed Corp Deals Decline

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Distressed debt and bankruptcy restructurings completed in 2012 more than doubled from 2011 to $423 billion, according to Thomson Reuters. Excluding Greece’s record $263 billion debt-exchange transaction, however, produces a very ...

Middle East Investment Banking

SIGNS OF RESILIENCE

By Gordon Platt

In spite of poor global economic and investment conditions, Middle Eastern investment banking looks set for another solid year in 2013.


300x169-Features 16-MidEast-Inv-Banking The outlook for investment banking in the volatile Middle East region is surprisingly ...

Emerging Markets Roundup: Middle East

DUBAI SEEKS ROLE AS CAPITAL OF ISLAMIC ECONOMY

By Gordon Platt


Dubai plans to become the capital of the Islamic economy by setting global standards.

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In addition to promoting Islamic finance and insurance, the emirate wants to arbitrate Islamic contracts ...

M&A: Energy, Resources Deals Heat Up

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Pipeline deals, shale-energy plays and natural resources transactions—often involving Asian buyers—provided an energetic start to mergers and acquisitions in 2013.

The overall January deal totals for the Americas and Europe ...

FX: Economic Woes To Constrain Euro

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

The euro was the star of the major currencies in January, as it soared to a 14-month high against the dollar and a 33-month high against the Japanese yen.

Its strength reflects ...

Trade Finance: Global Winners

By Gordon Platt

GLOBAL WINNERS

BEST TRADE FINANCE PROGRAM

International Finance Corporation (IFC)

IFC, a member of the World Bank Group, offers programs that focus on supporting trade in areas that have the greatest impact on the poor. Georgina Baker ...

Equity: Global IPO Market Shrinks

CORPORATE FINANCING NEWS: GLOBAL EQUITY / DRS


By Gordon Platt


Global initial public offerings declined 29% in 2012 to $117 billion, reflecting steep declines in IPO issuance in Hong Kong and China, according to Thomson Reuters.

On an encouraging note, however ...

M&A: Record Spin-Offs Boost Global M&A

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Thanks in large part to record levels of spin-offs and divestitures, global mergers and acquisitions achieved a 2% gain in 2012 to $2.6 trillion, according to Thomson Reuters.

Spin-offs and divestitures ...

Awards: Trade Finance

EMBRACING THE MODERN ERA


By Gordon Platt


Global Finance presents the winners of its annual trade finance providers awards, incorporating the results of our first-ever trade finance readers’ survey.

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The ancient business of financing trade is now firmly positioned within ...

FX: Central Banks Key To 2013 FX Moves

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

Central bank policies could create some interesting opportunities in the foreign exchange markets in 2013, despite what could be a slow-growth environment, analysts say.

“We expect the newly elected Japanese government to ...

Trade Finance: Regional Winners

By Gordon Platt

REGIONAL WINNERS

AMERICAS

Citi

With its extensive presence in the US, Canada and Latin America, Citi is the largest service provider for private-labeled letters of credit and open account transactions. The bank’s global footprint enables it ...

Debt: Companies Rush To Issue Bonds

CORPORATE FINANCING NEWS: CORPORATE DEBT


By Gordon Platt


Those investors reaching for higher yields in a low-interest-rate environment propelled bond markets around the world to new highs in 2012, but analysts don’t expect the party to continue forever.

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The ...

Best FX Providers: Regional Winners

By Gordon Platt

BEST FOREIGN EXCHANGE PROVIDERS: REGIONAL WINNER

NORTH AMERICA

Citi

Citi’s foreign exchange operations, CitiFX, had a very good year in 2012, which marked the bank’s 200th anniversary. Its FX volume continued to expand rapidly, and ...

M&A: A Return To The Fast Lane For M&A

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS


By Gordon Platt


Mergers and acquisitions could gain traction in 2013, following a disappointing year for dealmaking activity in 2012.

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Although the global economic outlook remains clouded, there are plenty of bright spots, analysts say ...

Best FX Providers: Best Online Foreign Exchange Trading Systems

By Gordon Platt

BEST ONLINE FOREIGN EXCHANGE TRADING SYSTEMS

BANK SYSTEM

Deutsche Bank’s Autobahn

Deutsche Bank introduced a new version of its Autobahn trading system in July 2012 that allows customers to keep track of all of their trades ...

Debt: Positive Bond Returns In 2013

CORPORATE FINANCING NEWS: CORPORATE DEBT


By Gordon Platt


Analysts expect another year of positive returns for the fixed-income markets in 2013, although gains will be harder to com e by than in 2012, owing to narrower spreads.

Emerging markets corporate ...

Best FX Providers: Research & Analysis

By Gordon Platt

Best Foreign Exchange Research & Analysis

RESEARCH

BNY Mellon

BNY Mellon, one of the largest foreign exchange dealers in the US, trades more than $42 billion in the FX market on an average day. The bank’s 10 ...

Equity: China, LatAm Could Boost IPOs

CORPORATE FINANCING NEWS: GLOBAL EQUITY / DRS


By Gordon Platt


After declining sharply in 2012, initial public offerings could stage a turnround in the new year, say analysts, with China and Latin America leading the issuance.

The number of global IPOs ...

Annual Awards: Best FX Providers 2013

THE BIG GET BIGGER


By Gordon Platt


The biggest FX banks are increasing their share of a shrinking market, amid low volatility and despite a speed bump for high-frequency traders.


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As global interest rates converge at a low level and ...

Best FX Providers: Global Winners

By Gordon Platt

BEST FOREIGN EXCHANGE PROVIDERS: GLOBAL WINNER

Deutsche Bank

Deutsche Bank increased its market-leading FX volume in 2012, at the same time that it reduced value-at-risk and headcount. Crucial to this development has been its investment in technology ...