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Emerging Markets Focus: Africa

COVER STORY: SEA CHANGE By Jonathan Gregson Africa's economic prospects have never been better. 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 may ...

Emerging Markets Focus: Asia

COVER STORY: IN THE DRIVER'S SEAT 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. The first thing British prime minister David Cameron did ...

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 ...

Emerging Markets Focus: Latin America

COVER STORY: MUTUAL BENEFITS By Antonio Guerrero Latin America is enjoying growing prosperity as the region develops ever-stronger economic ties with Asia. 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 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. Dubai’s world-class infrastructure gave the emirate’s creditors faith that ...

Emerging Markets Focus: Rising Stars

COVER STORY: EMERGING MARKETS FOCUS 2010 By Gordon Platt After an impressive 2010, the coming year looks likely to bring more good news for most emerging markets. 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. The travails of Southern Europe—in particular Spain, Portugal and Greece—continue to dominate ...

Emerging Markets Roundup

Emerging Markets Focus: Africa

COVER STORY: SEA CHANGE By Jonathan Gregson Africa's economic prospects have never been better. 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 may ...

Emerging Markets Focus: Asia

COVER STORY: IN THE DRIVER'S SEAT 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. The first thing British prime minister David Cameron did ...

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 ...

Emerging Markets Focus: Latin America

COVER STORY: MUTUAL BENEFITS By Antonio Guerrero Latin America is enjoying growing prosperity as the region develops ever-stronger economic ties with Asia. 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 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. Dubai’s world-class infrastructure gave the emirate’s creditors faith that ...

Emerging Markets Focus: Rising Stars

COVER STORY: EMERGING MARKETS FOCUS 2010 By Gordon Platt After an impressive 2010, the coming year looks likely to bring more good news for most emerging markets. 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 six ...

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 grease ...

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 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 $1.5 ...

Emerging Markets Roundup: Brazil

ROUNDUP By Antonio Guerrero 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 a $1.5 billion emergency ...

Emerging Markets Roundup: China

ROUNDUP By Thomas Clouse 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 3% appreciation ...

Emerging Markets Roundup: India

ROUNDUP By Aaron Chaze 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 of its ...

Emerging Markets Roundup: Russia

ROUNDUP By Kim Iskyan 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 power ...

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 developed-country ...

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

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 ago ...

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 derivatives ...

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 function the ...

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 six ...

Milestones

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 ...

Burma: Elections Offer Few Answers

MILESTONES: BURMA By Thomas Clouse 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 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 from the other world ...

Corporate Finance

Fed Injects $600Bn, Feeds Bond Rally

CORPORATE FINANCING NEWS: CORPORATE DEBT By Gordon Platt 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 the middle ...

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 grease ...

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 ...

Newsmakers

Argentina: Unease With Profit-Sharing Plan

NEWSMAKERS: ARGENTINA By Antonio Guerrero 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 next October's ...

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 ...

Burma: Elections Offer Few Answers

MILESTONES: BURMA By Thomas Clouse 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 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 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 from the other world ...

Global: World Bank's Environment Valuation

NEWSMAKERS: GLOBAL By Dan Keeler 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 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 probably ...

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 the ...

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 ...