2012

Country Report: Russia

BATTLING THE STATUS QUO By Justin Keay Although the government has pledged to improve the business clime, foreign investors remain skeptical that much-needed reform will happen—at least in the short term. Russia is in a state of flux unseen since ...

Country Report: Kuwait

LONG-TERM VISION By Justin Keay Kuwait’s development in recent years has been driven by the state, with little FDI. However, upcoming elections promise a new government that could improve the business climate for foreign investors. When protesters stormed Kuwait’s parliament ...

2011

EM Regional Review: CEE

WINTER OF DISCONTENT By Justin Keay Although there are some bright spots, many CEE countries face the prospect of another economic downturn thanks to tight European ties. For most countries in the postcommunist world, 2011 has proved to be a ...

Country Report: Lebanon

WAIT AND SEE By Justin Keay Lebanon has tumbled from its economic boom in 2010. Investors are holding back to see how the new government fares. So far, its reform progress is less than impressive. But with the central bank ...

Country Report: Turkey

RIDING THE WAVE By Justin Keay Turkey’s economy has performed quite well, but reform is needed at home to build sustainable growth. Early August saw unprecedented turbulence on global financial markets, and Turkey’s was no exception. On one day alone—Monday, ...

Early Days

COUNTRY REPORT: EGYPT By Justin Keay Egypt is still in the very early stages of transition, but if it can establish political stability, its economy should grow strongly over the coming years. If confidence really is the key to growth ...

Country Report: Turkey

Enjoying The Good Times By Justin Keay Turkey is enjoying unprecedented economic stability and growth. Its biggest challenge is to maintain its balance. These days in most developed economies, the release of GDP figures is typically greeted with soul-searching as ...

Middle East: A Region In Transition

THE MIDDLE EAST 2011: OUTLOOK By Justin Keay The rising tide of activism surging through the Middle East and North Africa is accelerating a transformation already well under way. When asked what was most likely to blow governments off course, ...

Middle East: Taking A Leading Role

THE MIDDLE EAST 2011: QATAR By Justin Keay Careful economic management and a strong strategic vision have helped propel Qatar to the front ranks of the world’s fastest-growing economies. Ten years ago, Qatar could have safely laid claim to being ...

Annual Supplement: The Middle East 2011

WINDS OF CHANGE These are times of unprecedented change in the Middle East and North Africa. Years of pent-up frustration among the region’s youth—around 60% of the population in some countries—has already swept away two governments. More may follow, even ...

Middle East: Looking To The Future

THE MIDDLE EAST 2011: THE BANKS By Justin Keay The current market conditions may have prompted slowing in their expansion plans, but the Middle East’s banks are still building for the future. Until late 2010, the sentiment of most Middle ...

Middle East: Bouncing Back

THE MIDDLE EAST 2011: DUBAI'S RESURGENCE By Justin Keay After a tough two years, Dubai has consolidated its position as a regional financial and transport hub and is set for a sharp upturn. Anyone arriving on a spanking new Emirates ...

Britain’s Big Gamble

FOCUS: UK RECOVERY STRATEGY By Justin Keay The UK government’s savage spending cuts and deep austerity measures have been touted as a model recovery strategy for stumbling Western economies. Faltering growth is raising questions over the strategy’s validity. Countries almost ...

Regional Report: The Caucasus

COMPETITION IN THE CAUCASUS: THREE'S COMPANY By Justin Keay Armenia, Azerbaijan and Georgia are competing to attract foreign investment. With much of Central and Eastern Europe still mired in a post recession slump, the Caucasian trio may all benefit. Over ...

Southern Sudan: World’s Newest Nation

NEWSMAKERS: SOUTHERN SUDAN By Justin Keay Sudan, the largest country in Africa and the Arab World—and the tenth largest in the world—is about to get a good deal smaller. Bold move: Voters decide Southern Sudan's future Preliminary results were still ...

Europe: Maintaining Focus On Development Aid

NEWSMAKERS: EUROPE By Justin Keay Piebalgs: Pressing Europeans to give more Spare a thought for Andris Piebalgs, the EU's development commissioner. At a time when politicians across Europe are telling people to tighten their belts during the toughest fiscal retrenchment ...

Country Report: Libya

LIBYA: OPENING UP By Justin Keay As its economy slowly becomes more open, Libya is attracting the attention of a wider range of potential investors than just adventurous oil companies. In the old days of the Soviet Union, sovietologists would ...

2010

Emerging Markets Focus: CEE

COVER STORY: HARD TIMES By Justin Keay A sustainable recovery remains as elusive as ever for many of the countries of Central and Eastern Europe. Before the fall of the Berlin Wall and the demise of the Soviet Union, investors ...

Azerbaijan: Investors Cheer Elections

MILESTONES: AZERBAIJAN By Justin Keay Baku: Enjoying the fruits of Azerbaijan's mineral wealth Azerbaijan's parliamentary elections in early November ended in controversy, with critics claiming the opposition parties were prevented from being able to properly challenge Yeni Azerbaijan, the party ...

Country Report— Lebanon

REFORM CANDIDATE By Justin Keay Sharply rising capital inflows and a stable banking sector have helped Lebanon achieve impressive economic growth. Maintaining it will require far-reaching reforms, though. Winston Churchill once famously described Russia as a riddle wrapped in a ...

Country Report: Lebanon

REFORM CANDIDATE By Justin Keay Sharply rising capital inflows and a stable banking sector have helped Lebanon achieve impressive economic growth. Maintaining it will require far-reaching reforms, though. Winston Churchill once famously described Russia as a riddle wrapped in a ...

Features: Spotlight - EBRD

POST-CRISIS MANAGEMENT The European Bank for Reconstruction and Development has found new relevance—and a key role—in the aftermath of the financial crisis. By Justin Keay Aside maybe from Goldman Sachs and J.P. Morgan, few banks have emerged from the global ...

The Price Of Stability

COVER STORY: FINANCIAL REGULATION By Justin Keay Businesses can expect to see their top-line costs rise under new banking regulations in the US and Europe. Will it be money well spent? If in pre-credit-crunch days policymakers uttered the phrase “financial ...

Pole Position

Country Report: Poland By Justin Keay Having weathered the recent global crisis better than almost any other European country, Poland is laying the foundation for a sustainable long-term recovery. Poland's tumultuous history has made it no stranger to tragedy, but ...

Montenegro Aims To Be The Next Mediterranean Tiger

NEWSMAKERS: MONTENEGRO Montenegro Aims To Be The Next Mediterranean Tiger By Justin Keay Luksic: Reforms should help attract investors Most small European countries are still suffering in the wake of the recent downturn, with foreign direct investment (FDI) and trade ...

Newsmakers: Europe Considers Emergency Aid Fund

Europe By Justin Keay Schäuble: Europe should be able to save itself Growing concern over the indebtedness and burgeoning fiscal deficits of some European countries has led Germany’s finance minister, Wolfgang Schäuble, to propose the establishment of a European Monetary ...

Newsmakers: EU Takes Gloomy View On Growth

Europe By Justin Keay Torres: Green and digital technologies may fill growth gap With the most serious global recession since the 1930s slowly coming to an end, European policymakers are now focusing on the post-crisis landscape. The view isn’t pretty. ...

2009

Cover Story: A Long Way To Go

EMERGING MARKETS FOCUS: CENTRAL & EASTERN EUROPE For most Central and Eastern European countries, 2009 turned out to be every bit as bad as expected. The region’s prospects for the coming year are mixed, at best. By Justin Keay In ...

Features: Country Report: Lebanon

BUCKING THE GLOBAL TREND Lebanon sidestepped the global turmoil and is busy building on its newfound prosperity. By Justin Keay On any morning in downtown Beirut—along the sunny Corniche or in the cafes in the reconstructed Place d’Etoile near Parliament ...

Milestones: Hungary’s Leader Fights Back

Hungary By Justin Keay Bajnai: Credited with pulling Hungary back from the brink Its economy could contract by 6.7% this year and 0.9% in 2010, foreign debt is at record levels and the public mood very sour, but prime minister ...

Newsmakers: UK Regulator Lashes Out At Bankers

United Kingdom Justin Keay Turner: City of London engages in “socially useless activity” A year has passed since the near implosion of the world’s financial system, and intelligent opinion in Britain remains divided between those wanting the City punished and ...

Features: Regional Report - Central & Eastern Europe

DOWN BUT NOT OUT Central and Eastern Europe was arguably the region hit hardest by the global downturn. It’s still suffering, but hopeful signs are clearly emerging. By Justin Keay It wasn’t meant to be like this. According to the ...

Features: Country Report Turkey

ON A KNIFE EDGE TURKEY Turkey is well positioned to weather a global downturn, but it still faces some tough economic challenges. Tansan: Ankara must hold out for the best possible terms from the IMF. There was a time not ...

Milestones : Britain Attempts To Solve Regulatory Puzzle

UNITED KINGDOM Turner: Getting tough. Britain’s Financial Services Authority (FSA), much criticized for regulatory and supervisory failings that critics say have exacerbated the country’s financial crisis, is to abandon its much-vaunted light-touch approach to regulation. FSA chairman Adair Turner is ...

Emerging Markets : Britains attemps to solve regulatory puzzle

UNITED KINGDOM Britain’s Financial Services Authority (FSA), much criticized for regulatory and supervisory failings that critics say have exacerbated the country’s financial crisis, is to abandon its much-vaunted light-touch approach to regulation. Turner: Getting tough Unveiling the reform plan, Turner ...

Features : Country Report: Cyprus

SURVIVAL INSTINCT CYPRUS Cyprus’ leaders are tackling head on the challenge of maintaining economic growth during the current global downturn. Nicosia, Cyprus' capital, is gripping itself for an economic slowdown. Cyprus has experienced more than its fair share of ups ...

Features : Survival Instinct

CYPRUS Cyprus’ leaders are tackling head on the challenge of maintaining economic growth during the current global downturn. Nicosia, Cyprus' capital, is gripping itself for an economic slowdown. Cyprus has experienced more than its fair share of ups and downs ...

Milestones : British Authorities Set Out To Chart Post-Credit-Crunch Landscape

UNITED KINGDOM Tough talk: FSA chairman Adair Turner Britain’s battered banks—reeling from plunging share prices and ever-worsening subprime losses—face a major overhaul in the way they are regulated. Britain’s unified regulatory body, the Financial Services Authority (FSA), is to publish ...

2008

Features : Crash landing

CENTRAL & EASTERN EUROPE Central and Eastern Europe has transformed from a beacon of hope into a near basket case astonishingly quickly. Its recovery will be a far slower and no less painful process. Hard hit: Hungary was one of ...

Features : A Very British Meltdown

A VERY BRITISH MELTDOWN A SYSTEM IN PERIL The swiftness of Britain’s transition from the cutting edge of innovation in banking and finance to representing the epitome of the global crisis has left many heads spinning. But in its dramatic ...

Features : Delayed Reaction

REGIONAL REPORT / CENTRAL AND EASTERN EUROPE They dodged the early fallout from the credit crunch, but Central and Eastern Europe’s economies are facing growing challenges. All change: Central and Eastern Europes economies are in transition. Next year Europe’s post-communist ...

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About Us

GLOBAL FINANCE A PIONEERING VOICE FOR MODERN FINANCE   Global Finance is a monthly magazine founded in 1987 by publishing entrepreneurs Joseph Giarraputo and Carl Burgen. Giarraputo continues as Publisher and Editorial Director. Its mission is to help corporate leaders, ...