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Cover Story

Emerging Markets Focus: Africa

COVER STORY: SEA CHANGE

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By Jonathan Gregson


Africa's economic prospects have never been better.

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Fifty years after British prime minister Harold Macmillan spoke of a wind of change sweeping across the African continent, the sort of development he envisaged ...

Emerging Markets Focus: Asia

COVER STORY: IN THE DRIVER'S SEAT

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By Anita Hawser

Emerging Asia has consolidated its role as the most powerful engine of global economic recovery—but threats to the region's growing prosperity remain.


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The first thing British prime minister ...

Emerging Markets Focus: CEE

COVER STORY: HARD TIMES

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By Justin Keay

A sustainable recovery remains as elusive as ever for many of the countries of Central and Eastern Europe.

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Before the fall of the Berlin Wall and the demise of the Soviet Union, investors ...

Emerging Markets Focus: Latin America

COVER STORY: MUTUAL BENEFITS

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By Antonio Guerrero

Latin America is enjoying growing prosperity as the region develops ever-stronger economic ties with Asia.

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When Chinese President Hu Jintao took his first tour of Latin America in 2004, he left a whirlwind ...

Emerging Markets Focus: Middle East

COVER STORY: INFRASTRUCTURE INVESTMENT SUSTAINS GROWTH

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By Gordon Platt

High oil prices are keeping government spending flowing strongly into major projects, while debt-laden Dubai has taken a turn for the better.


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Dubai’s world-class infrastructure gave the emirate’s creditors ...

Emerging Markets Focus: Rising Stars

COVER STORY: EMERGING MARKETS FOCUS 2010

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By Gordon Platt

After an impressive 2010, the coming year looks likely to bring more good news for most emerging markets.

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Emerging markets are giving capital controls a good name. Long derided by economists ...

Regional Report: Southern Europe

COVER STORY: LIVING ON THE EDGE

By Laurence Neville

Southern Europe's sovereign debt crisis may appear to have been resolved, but severe trials still lie ahead—particularly for Greece.


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The travails of Southern Europe—in particular Spain, Portugal and ...

The World's Best Derivatives Providers

Best Derivatives Providers: Asia

WINNERS: ASIA

Best Commodity Derivatives Provider
Macquarie
Australia's Macquarie Group finances producers of a wide variety of commodities and has a reputation for producing the most astute research on commodities, particularly on metals and mining in Asia. Two years ...

Best Derivatives Providers: Europe

WINNERS: EUROPE

Best Commodity Derivatives Provider
Morgan Stanley
Despite attempts by competitors to nibble at its market share when commodities prices were soaring in 2009, Morgan Stanley has maintained its dominant position in commodities derivatives in Europe thanks to the ...

Best Derivatives Providers: Exchanges

WINNERS: EXCHANGES

Achievement Award
ICE
Long before derivatives reform was on the regulatory agenda, the Intercontinental Exchange in Atlanta was well on the way to achieving what regulators hope to accomplish with new rules—an unprecedented level of transparency in ...

Best Derivatives Providers: Latin America

WINNERS: LATIN AMERICA

Best Derivatives Provider
Société Générale
Few other banks can claim as vast and deep a reach across the fragmented continent of Latin America—and across all classes of financial derivatives—as Société Générale. This is partly a ...

Best Derivatives Providers: Middle East

WINNERS: MIDDLE EAST

Best Derivatives Provider
HSBC
HSBC  has become the preferred derivatives dealer in the Middle East, which  endured an even more pronounced credit crunch than other regions. The  bank took clients away from Standard Chartered, the only other ...

Best Derivatives Providers: North America

WINNERS: NORTH AMERICA

Best Commodity Derivatives Provider
Goldman Sachs
In the wake of the credit crunch in 2007 and the stock market crash of 2008, hundreds of billions of dollars poured out of stocks and bonds and into commodities, which ...

The World's Best Derivatives Providers

ANNUAL SURVEY: A NEW STATUS QUO

By Michael Shari

The landscape of leading derivatives providers is being reshaped largely by a preference for low commissions and a newfound fear of having American banks as counterparties.

It would not take a ...

World's Best Internet Banks Part 2

ANNUAL SURVEY: GOING MOBILE

By Adam Rombel

In the second of a two-part series, Global Finance identifies the best corporate/institutional and consumer Internet banks globally and in six regions, plus an overall winner. We also name global winners in ...

Newsmakers

Argentina: Unease With Profit-Sharing Plan

NEWSMAKERS: ARGENTINA

By Antonio Guerrero

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Kirchner: Hoping to mend fences with the unions

A controversial profit-sharing bill submitted to Congress by Argentina's ruling coalition is becoming a proxy fight between the nation's labor and business sectors ahead of ...

Azerbaijan: Investors Cheer Elections

MILESTONES: AZERBAIJAN

By Justin Keay

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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 ...

Burma: Elections Offer Few Answers

MILESTONES: BURMA

By Thomas Clouse

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Suu kyi: Free at last

Burma held its first election in two decades in early November. The winners of the election will take control of the government from the military, which has ruled the country ...

Canada: Potash Snub Stirs Protectionist Fears

MILESTONES: CANADA By Denise Bedell Harper: Potash decision prompts concerns When Canada's government blocked Australian mining firm BHP Billiton's $39 billion bid for fertilizer giant Potash of Saskatchewan, it did more than put a dent in the Canadian company's share ...

Global: Basel III Debate Over Trade Finance

NEWSMAKERS: GLOBAL

By Anita Hawser

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Nivison: Trade is different

When the new Basel III capital adequacy proposals were announced back in the summer, some members of the banking community breathed a sigh of relief as the timeline for their introduction ...

Global: G20's Mantra Covers Big Differences

MILESTONES: GLOBAL

By Gordon Platt

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Comic relief: G20 leaders laugh despite deficit deadlock

At last month's Seoul summit of the G20—or the G19+1, as one senior Asian central bank official recently dubbed it—the US was isolated ...

Global: World Bank's Environment Valuation

NEWSMAKERS: GLOBAL

By Dan Keeler

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Zoellick: Promoting fair value of  ecosystems

In an attempt to help countries calculate the true value of their natural assets, the World Bank has launched a project that will create an ecosystem valuation model. Unveiling ...

Russia: Former Yukos Chief Gets More Jailtime

NEWSMAKERS: RUSSIA

By Kim Iskyan

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Khodorkovsky: Sentence likely to be extended

After months of wrangling, the verdict on the second trial of Mikhail Khodorkovsky, the former head of Russia's Yukos Oil Company, is due in mid-December. The ex-tycoon will ...

Milestones

Azerbaijan: Investors Cheer Elections

MILESTONES: AZERBAIJAN

By Justin Keay

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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 ...

Burma: Elections Offer Few Answers

MILESTONES: BURMA

By Thomas Clouse

150_Regulars_Newsmakers_4M_Dec-10i

Suu kyi: Free at last

Burma held its first election in two decades in early November. The winners of the election will take control of the government from the military, which has ruled the country ...

Canada: Potash Snub Stirs Protectionist Fears

MILESTONES: CANADA By Denise Bedell Harper: Potash decision prompts concerns When Canada's government blocked Australian mining firm BHP Billiton's $39 billion bid for fertilizer giant Potash of Saskatchewan, it did more than put a dent in the Canadian company's share ...

Global: G20's Mantra Covers Big Differences

MILESTONES: GLOBAL

By Gordon Platt

300_Regulars_Newsmakers_3Mi_Dec-10

Comic relief: G20 leaders laugh despite deficit deadlock

At last month's Seoul summit of the G20—or the G19+1, as one senior Asian central bank official recently dubbed it—the US was isolated ...

Corporate Finance

Fed Injects $600Bn, Feeds Bond Rally

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

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The bond market rally was given a new lease on life last month when the Federal Reserve announced it would buy $600 billion of US treasuries—and maybe more, if necessary—by ...

Fed Pulls Rug Out From Under Dollar

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

Although the Federal Reserve's main focus is not the dollar, which is the purview of the US Treasury Department, it had to know that its $600 billion asset- purchase plan would ...

Global IPO Pipeline Filling Up Quickly

CORPORATE FINANCING NEWS: GLOBAL EQUITY/ DRS

By Gordon Platt

Companies based in China and India dominated global initial public offerings in the first three quarters of 2010, and now the US is getting ready to join the new-equity rush. The ...

QE2 Boosts Cross-Border M&A Deals

CORPORATE FINANCING NEWS: MERGERS & ACQUISITION

By Gordon Platt

Growing risk appetite triggered a sudden burst of cross-border mergers and acquisitions in October, as investors prepared for a second round of quantitative easing, or QE2, from the Federal Reserve. The number ...

Emerging Markets Roundup

Emerging Markets Focus: Africa

COVER STORY: SEA CHANGE

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By Jonathan Gregson


Africa's economic prospects have never been better.

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Fifty years after British prime minister Harold Macmillan spoke of a wind of change sweeping across the African continent, the sort of development he envisaged ...

Emerging Markets Focus: Asia

COVER STORY: IN THE DRIVER'S SEAT

150_EMfocus2010_tag

By Anita Hawser

Emerging Asia has consolidated its role as the most powerful engine of global economic recovery—but threats to the region's growing prosperity remain.


300_CoverStory_Asia-1_DEC-10

The first thing British prime minister ...

Emerging Markets Focus: CEE

COVER STORY: HARD TIMES

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By Justin Keay

A sustainable recovery remains as elusive as ever for many of the countries of Central and Eastern Europe.

300_CoverStory_CEE-1_Dec-10

Before the fall of the Berlin Wall and the demise of the Soviet Union, investors ...

Emerging Markets Focus: Latin America

COVER STORY: MUTUAL BENEFITS

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By Antonio Guerrero

Latin America is enjoying growing prosperity as the region develops ever-stronger economic ties with Asia.

300_CoverStory_Latin-Americ1_Dec-10

When Chinese President Hu Jintao took his first tour of Latin America in 2004, he left a whirlwind ...

Emerging Markets Focus: Middle East

COVER STORY: INFRASTRUCTURE INVESTMENT SUSTAINS GROWTH

150_EMfocus2010_tag

By Gordon Platt

High oil prices are keeping government spending flowing strongly into major projects, while debt-laden Dubai has taken a turn for the better.


300_CoverStory_Middle-East-_Dec-10

Dubai’s world-class infrastructure gave the emirate’s creditors ...

Emerging Markets Focus: Rising Stars

COVER STORY: EMERGING MARKETS FOCUS 2010

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By Gordon Platt

After an impressive 2010, the coming year looks likely to bring more good news for most emerging markets.

300_CoverStory_Emerging-Mkt_Dec-10

Emerging markets are giving capital controls a good name. Long derided by economists ...

The World's Best Derivatives Providers

ANNUAL SURVEY: A NEW STATUS QUO

By Michael Shari

The landscape of leading derivatives providers is being reshaped largely by a preference for low commissions and a newfound fear of having American banks as counterparties.

It would not take a ...

World's Best Internet Banks Part 2

ANNUAL SURVEY: GOING MOBILE

By Adam Rombel

In the second of a two-part series, Global Finance identifies the best corporate/institutional and consumer Internet banks globally and in six regions, plus an overall winner. We also name global winners in ...

Fed Pulls Rug Out From Under Dollar

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

Although the Federal Reserve's main focus is not the dollar, which is the purview of the US Treasury Department, it had to know that its $600 billion asset- purchase plan would ...

BNY Mellon Signs Pacts In Shanghai, Singapore

EMERGING MARKETS INVESTOR: DR NEWS

By Gordon Platt

BNY Mellon is helping to bring American depositary receipts (ADRs) to Singapore and exchange-trade funds (ETFs) based on its DR indexes to Shanghai. This will provide access for local investors to major ...

Emerging Markets Roundup: Africa

ROUNDUP

By Antonio Guerrero

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Good to go: Tullow resolves dispute over Uganda's oil fields

Uganda moved closer to becoming an oil producer after UK-based Tullow Oil reached an agreement with the government over a tax dispute. Tullow, which paid ...

Emerging Markets Roundup: Brazil

ROUNDUP

By Antonio Guerrero

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Doubling up: Vale plans to ramp up spending next year

Mounting concerns over Banco PanAmericano's liquidity sent its shares into freefall and prompted a government bailout. The bank—Brazil's 20th largest by assets—received ...

Emerging Markets Roundup: China

ROUNDUP

By Thomas Clouse

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China's trade surplus rose to $27.15 billion in October, its second highest reading of the year, the customs office reported last month. The surplus represents a 60% month-on-month increase and comes despite an almost ...

Emerging Markets Roundup: India

ROUNDUP

By Aaron Chaze

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The other black gold: Coal India sparks investor frenzy

Coal India, the world's largest coal mining company and one of the Indian government's mega disinvestments, became the largest IPO ever in India and one ...

Emerging Markets Roundup: Russia

ROUNDUP

By Kim Iskyan

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Moscow's mayor: Sobyanin

Sergei Sobyanin, the former chief of staff of prime minister Vladimir Putin, was named mayor of Moscow late in October. He succeeds Yuri Luzhkov, who was ousted in September after an intense ...

Frontier Markets Index Tracks New Asset Class

EMERGING MARKETS INVESTOR: NEWS

By Gordon Platt

Russell Investments, based in Washington state, introduced a new index, the Russell Frontier Index, that initially includes 683 stocks from 41 countries, none of which are included in the firm's emerging-markets or ...

The Great Divide

ANALYSIS: GLOBAL GROWTH

By Laurence Neville

As companies thrive while countries struggle, a split seems to be emerging between macroeconomic and corporate performance.


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Observers of the global economy could be forgiven for being a little confused of late. Macroeconomic news ...

Additional Stories

Ford's Turkish Van Drives Into US Market

COMPANY TO WATCH: FORD OTOSAN/TURKEY

By Gordon Platt

Ford Otosan, a joint venture between Ford Motor of the US and Koç Group, a leading industrial conglomerate based in Turkey, exports its products to more than 60 countries. Soon after ...

Rise Of Integrated Expense Management

TOOLBOX: CORPORATE CREDIT CARDS By Denise Bedell Businesses discover the benefits of linking corporate card programs with other parts of the physical and financial supply chain. As automated expense management solutions become ever more integrated with other systems—both from card ...