2012

FX: Euro Tumbles, EU Debt Crisis Grows

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE   By Gordon Platt   The European debt crisis remains the key focus of foreign exchange market participants, as the slowdown in the global economy increases pressure on central banks and government officials to take ...

World's Best Subcustodians 2012: Regional Winners

By Gordon Platt NORTH AMERICA Citi Lee Waite, global head of direct custody and clearing, Citi Citi's Global Transaction Services division has the largest proprietary custody network in the world, covering 61 markets and 98.5% of global market capitalization. Lee ...

Emerging Markets Roundup: Middle East

SOVEREIGN WEALTH FUNDS JUMP INTO THE MARKETS By Gordon Platt Middle Eastern sovereign wealth funds (SWFs) are once again dipping their toes in markets worldwide, even those that saw investments last year grow cold. Saudi power company launches landmark sukuk ...

The Still-Seamy Underbelly Of Energy Trading

NEWSMAKERS: UNITED STATES   By Gordon Platt   As the tide went out for natural gas prices, it revealed that the seamy underbelly of the energy-trading business hasn’t changed a great deal since the days of Enron.   McClendon ran a hedge ...

FX: Europe’s Crisis Deepens Euro Worry

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE   By Gordon Platt   The euro is likely to decline against the dollar in the medium term, due to political uncertainty in Europe and weak economic conditions, analysts say.   “The eurozone debt crisis is ...

Company to Watch: Mr Price / South Africa

RETAILER EXPANDS IN NIGERIA   By Gordon Platt   Mr Price Group has developed a successful retail formula in South Africa that could work well in markets across Africa.   The majority of Mr Price’s 1000-plus stores are in South Africa, ...

EM News: Building Frontier Markets Access

EMERGING MARKETS INVESTOR: NEWS   By Gordon Platt   The development of new frontier indexes in both the fixed-income and equity markets is making it easier for institutional investors to trade often risky and illiquid securities out of just-developing markets.   ...

Danish Banks Fire Moody’s For “Business Reasons”

MILESTONES: DENMARK   By Gordon Platt   Moody’s Investors Service says something is rotten in Denmark’s mortgage industry. The country’s banks are still issuing interest-only loans, years after the real-estate bubble burst.   Copenhagen still home to interest-free mortgages Meanwhile, Denmark’s household ...

FX: Dollar Favored Over Euro, Yen

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE By Gordon Platt The dollar rose sharply last month after the Federal Open Market Committee’s meeting in March signaled that further monetary easing is unlikely unless the US economy slows significantly or the inflation rate ...

World’s Best Banks 2012: Middle East

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt MIDDLE EAST The oil-exporting countries of the Middle East are enjoying strong economic growth, whereas countries that experienced political uprisings during the Arab Spring of 2011 are struggling to get back ...

World’s Best Banks 2012: Africa

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt AFRICA Not only is Africa rich in natural resources, but it also offers the promise of fast economic growth in a number of countries, and a population lacking basic banking services. ...

EM News: EM Portfolio Flows Lose Steam

EMERGING MARKETS INVESTOR: NEWS   By Gordon Platt   Strong investor flows into emerging markets funds at the beginning of 2012 have since moderated but not reversed. Analysts say the slower pace of inflows is more sustainable and is not a cause ...

World’s Best Banks 2012: North America

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt NORTH AMERICA North America’s banks are well along the road to recovery from the financial crisis, amid signs of improvement in the US and Canadian economies. The Federal Deposit Insurance Corporation ...

World’s Best Banks 2012: Asia

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt ASIA Asia has provided one of the few bright spots in the global economy in recent years. The region rebounded quickly from the global financial crisis and has thus far avoided ...

World’s Best Banks 2012: Latin America

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt LATIN AMERICA With its developing middle class, the region’s growing consumer sector helped banks to continue posting healthy returns last year. Banking sector assets and profits were up throughout the region, ...

M&A: Glencore Targets Viterra

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS   By Gordon Platt   Switzerland’s Glencore International, the world’s largest commodities trader, agreed to acquire Canada’s biggest grain trader, Viterra, for C$16 a share ($16.05)—which values the company at $6 billion—in a deal that ...

DR News: Unsponsored Indonesian ADRs Target Mining Firms

EMERGING MARKETS INVESTOR: DR NEWS   By Gordon Platt   Five new, unsponsored American depositary receipt (ADR) programs for Indonesian companies were launched in March by BNY Mellon, targeting the strong corporate sector in the Asian economy.   Indonesia’s economy grew ...

Middle East 2012: Economies In Transition

SHIFTING SANDS   By Gordon Platt   Extraordinary changes are occurring in the Middle East in the aftermath of the Arab Spring uprisings. New economic models—and new opportunities for foreign investors—are developing. But the potential for great reward comes with ...

Middle East 2012: Doha Dreams

FAITH IN THE DOLLAR PEG   By Gordon Platt   Global Finance sits down with Qatar’s central bank governor, sheikh Abdullah Bin Saud Al-Thani. The pegged-exchange-rate regime is working well, according to Al-Thani, and the resilient financial sector will help ...

Feinberg Departs After BP Oil Spill Settlement

NEWSMAKERS: UNITED STATES   By Gordon Platt   Kenneth Feinberg, the Boston-bred lawyer who oversaw the process of paying out billions of dollars to victims of the 2010 oil spill in the Gulf of Mexico, was relieved of his duties last month, ...

Company to Watch: BR MALLS / Brazil

BRAZILIAN MALL OPERATOR RINGS UP SALES GAIN   By Gordon Platt   Brazil’s retail sales rose more than expected in December—climbing 6.7% from a year earlier and suggesting that domestic consumption will remain strong despite global market conditions.   BR Malls, ...