Magazine Cover

Cover Story

Going Under

COVER STORY: THE NEW OIL SHOCK   By Michael Shari   Triggered by street battles in OPEC member states and exacerbated by news of radiation leaking from Japanese nuclear reactors, the oil shock threatens to derail the world’s economic recovery. ...

Features

Regional Report: Asia

ASIA ACTS AMID ADVERSITY   By Thomas Clouse   The turmoil in the Middle East and North Africa and the devastating consequences of the early March earthquake in Japan are dragging heavily on Asia’s export-led, resource-intensive economic recovery.   When ...

Taiwan Roundtable: Economy & Business

TAIWAN: CHARTING A STEADY COURSE Moderated by Joseph Giarraputo At a roundtable in Taipei, Global Finance brought together key figures in Taiwan’s banking and finance industry to discuss the prospects for one of Asia’s most successful export-driven economies.   Tzung-Ta ...

Go With The Flow

CORPORATE TOOLBOX: LIQUIDITY MANAGEMENT   By Anita Hawser   Banks are offering increasingly innovative products to help companies make the most of their internal liquidity.   It might be hard to picture now, but just five years ago credit was ...

Hot Commodities

CENTRAL & EASTERN EUROPE: COMMODITIES CRUNCH   By Jonathan Gregson   Soaring commodities prices are changing the economic balance of Central & Eastern Europe and Central Asia.   Faltering growth in some of the world’s biggest economies may be grabbing ...

Take Cover

INSURANCE: POLITICAL RISK COVER   By Anita Hawser   Recent events in the Middle East and North Africa have brought political risk into sharp focus for multinationals in the region and beyond.   It was the morning after the Japanese ...

Analysis: Latin America Goes To Market

ANALYSIS: LATIN AMERICAN DEBT   By Denise Bedell   Latin America’s corporations are accessing both domestic and international debt capital markets as never before, and investors are happy to fund growth in the region.   Last year was a significant ...

Award Winners

Best Investment Banks 2011: Country Winners

Country Winners North America Canada Scotia Capital Scotia Capital is the global corporate and investment banking and capital markets arm of Scotiabank, the most international bank in Canada. Scotia Capital handled the three largest debt financings in Canada in 2010, ...

Best Investment Banks 2011: Global Winners

Global Winners Best Investment Bank Morgan Stanley Morgan Stanley’s broad-based strength in equity underwriting and financial advisory work on mergers and acquisitions worldwide is unparalleled. The investment bank’s only relative weakness is in the fixed-income area, which it is working ...

Best Investment Banks 2011: Regional Winners

Regional Winners North America Best Investment Bank Morgan Stanley Morgan Stanley’s strengths in the equity and M&A; advisory businesses make it the clear leader in North American investment banking. Not only did it lead General Motors’ $18.1 billion initial public ...

Best Investment Banks 2011: Sector Winners

Sector Winners Consumer Credit Suisse Credit Suisse advised on Coca-Cola’s $12.3 billion purchase of the North American operations of bottler Coca-Cola Enterprises. Credit Suisse also managed the $700 million initial public offering of Indfood CBP. Financial Institutions Bank of America ...

The World’s Best Investment Banks 2011

ANNUAL SURVEY : BEST INVESTMENT BANKS   By Gordon Platt   Constant innovation and unwavering commitment to the business have helped the world’s leading investment banks better serve their clients and build their market share.   The investment banking industry ...

Emerging Markets Roundup

Company To Watch: Fatima Fertilizer

EMERGING MARKETS INVESTOR: COMPANY TO WATCH   By Anita Hawser   Headquartered in Lahore, Fatima Fertilizer, which provides nitric acid, ammonia and other fertilizer and chemicals products, was born out of the Pakistan government’s 2001 Fertilizer Policy, which aims to ...

DR News: Bumper Year Ahead For Asian DRs

EMERGING MARKETS INVESTOR: DR NEWS   By Anita Hawser   A Korean flour and feeds mill company, DongA One, selected BNY Mellon as its depositary bank for its ADR program.   Each ADR issued represents two common shares of the ...

EM: Turmoil May Change Sovereign Fund Strategy

EMERGING MARKETS INVESTOR: NEWS   By Anita Hawser   The investment activities of sovereign wealth funds in some of the oil-rich countries in the Middle East and North Africa are being scrutinized with increasing interest by investors as political unrest ...

Emerging Markets Roundup: Africa

SENEGAL LANDS SOVEREIGN RATING   By  Antonio Guerrero   Senegal received its first-ever sovereign credit rating from Moody’s in March, as the government prepared to launch its debut $500 million Eurobond.   Reaping the benefits Moody’s granted Senegal a B1 ...

Emerging Markets Roundup: Brazil

BRAZIL’S BLISTERING GROWTH RATE COULD HAVE ITS DOWNSIDE   By Antonio Guerrero   After enduring a 0.3% contraction in 2009, Brazil’s economy expanded by 7.5% in 2010, according to the country’s government.   Enjoying the excesses The sharp reversal represents ...

Emerging Markets Roundup: China

CHINA BECOMES THE WORLD’S LEADING MANUFACTURER   By Thomas Clouse   Ending the more-than-100-year reign of the United States as the world’s top producer, China became the world’s largest manufacturer by output in 2010.   Jiabao talks down growth US-based ...

Emerging Markets Roundup: India

POWER SECTOR INSTALLS RECORD GENERATING CAPACITY   By Aaron Chaze   India’s power sector has installed the highest generating capacity ever in any fiscal year during the first nine months of the 2010-11 fiscal year.   India powers up its ...

Supplements

Milestones

Mercosur Turns 20 And Ruffles EU Feathers

MILESTONES: MERCOSUR   By Antonio Guerrero   The Southern Cone Common Market (Mercosur) is celebrating its 20th anniversary this year.   Argentine beef exports could threaten Europe's farmer The world’s third largest trade bloc, after the EU and Nafta, comprises ...

Russia: Kremlin Easing Investment Restrictions

MILESTONES: RUSSIA   By Kim Iskyan   A handful of impressive high-profile deals, coupled with signs that restrictions on foreign investment in Russia’s natural resources sector may soon be relaxed, suggest the Russian government may be dropping its long-standing resistance ...

US: Nuclear Energy Central To Policy

MILESTONES: UNITED STATES   By Gordon Platt   Panic-stricken residents of Western US states cleared pharmacy shelves of potassium iodide tablets last month, amid fears that radiation from Japan’s nuclear crisis could reach the West Coast.   Obama: No plans ...

Corporate Finance

Debt: Investors Fear Inflation

CORPORATE FINANCING NEWS: CORPORATE DEBT   By Gordon Platt   The European Central Bank sent a shockwave through global fixed-income markets last month with its “strong vigilance” alert, signaling that it was about to raise interest rates to ensure that ...

DRs: PE Firms Cash Out With IPOs

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS   By Gordon Platt   Nashville, Tennessee–based hospital operator HCA Holdings sold more shares than planned in its initial public offering in March, and it sold them at the high end of the expected price ...

FX: Fed Lags Europe In Inflation Fight

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE By Gordon Platt The dollar has been drifting lower this year on expectations that the Federal Reserve will lag behind other developed-market central banks in raising interest rates to fight inflation, analysts say. Currency Forecasts ...

Newsmakers

Ireland: New Government Hopes For Export-Led Recovery

NEWSMAKERS: IRELAND   By Dan Keeler   When Ireland’s voters unceremoniously booted out the Fianna Fail-led government in early March election, they were hoping that new leadership would give the country a fresh start.   IDA’s O’Leary: Confident Humbled by ...

Sponsored

Roundtable: Sub-Custody

SPONSORED ROUNDTABLE: IN SAFE HANDS   Moderated by Dan Keeler   Key figures from the world’s leading sub-custodians discuss how they are helping their clients deal with the effects of the flood of new regulation.   Florence Fontan BNP Paribas ...

Guide To Custody & Investors' Services

BUYER'S GUIDE : CUSTODY & INVESTORS' SERVICES Global Finance presents its annual sponsored guide to the leading providers in the custody and investors' services market.   BNP Paribas Securities Services         Custody Assets: 2010: $6,205 billion 2009: ...