Magazine Cover

Cover Story

Cover Story : Deal Or No Deal

The seemingly interminable wrangling over global trade encapsulated in the so-called Doha Round of talks might be about to come to an end. The dormant world trade talks may finally emerge from a prolonged suspension this spring as trade officials ...

Cover Story : Murabahah Goes Mainstream

A modern form of Islamic trade financing has taken root and is flourishing in the Middle East With its ancient caravan trails winding through the desert sands of Arabia, the Middle East is a fabled trade entrepôt between Europe and ...

Cover Story : The Chain Gang

As the use of letters of credit declines worldwide, banks are devising other ways to help companies manage their financial supply chains With global trade ballooning and companies looking for ever more efficient ways to fund and manage that trade, ...

Cover Story : World’s Best Trade Finance Banks 2007

Global Finance selects the leaders in a specialized area of finance that is changing rapidly Global trade finance has become an extremely competitive business, mainly suitable for financial institutions with economies of scale or special expertise. Most international trade is ...

Features

Features : After the Gold Rush

Local and international banks operating in China will face increasing challenges over the coming year. The opportunities remain undiminished, though It’s official: China has confounded the pessimists. Instead of fizzling out in a hot-money-fueled meltdown, China’s economy could be about ...

Features : Custodians Carve Out a Global Footprint

The global custody and investor services industry is embarking on a new round of consolidation On December 4, 2006, when The Bank of New York announced it was merging with one of its major US competitors, Mellon Financial Corporation, to ...

Features : Getting Bullish on The Russian Bear

Wielding increasing global power, Russia could be on the verge of becoming a real partner with Europe Rich in natural resources, Russia likely will enjoy a ninth straight year of solid economic growth in 2007. While the 1998 financial crisis ...

Features : Power Plays

After a year in which energy dominated the headlines as never before, the world’s political dynamics are now arguably more about this precious resource than anything else. When the Group of Seven nations met in St Petersburg last July, Russian ...

Emerging Markets Roundup

Cover Story : Deal Or No Deal

The seemingly interminable wrangling over global trade encapsulated in the so-called Doha Round of talks might be about to come to an end. The dormant world trade talks may finally emerge from a prolonged suspension this spring as trade officials ...

Features : Getting Bullish on The Russian Bear

Wielding increasing global power, Russia could be on the verge of becoming a real partner with Europe Rich in natural resources, Russia likely will enjoy a ninth straight year of solid economic growth in 2007. While the 1998 financial crisis ...

Emerging Markets : Banker Arrested Over Murder

Russia Murdered: Andrei Kozlov A Russian banker, Alexei Frenkel, whose institution had its license revoked in June 2006, was arrested in mid-January on charges that he was behind the murder of Central Bank of Russia deputy chairman Andrei Kozlov. The ...

Emerging Markets : Bid Fever Takes Hold

India Bidding war over India’s wireless communications Reliance Communications (RCL), India’s second-largest wireless telecom company, and Vodafone, the world’s largest wireless company, are heading for a showdown over a 67% stake in India’s fourth-largest wireless company, Hutchison Essar. Reliance has ...

Emerging Markets : Cement Maker Seeks Australia’s Rinker

Company To Watch: Cemex/Mexico Cemex has transformed itself from Mexico’s largest cement company into the world’s third-largest cement maker through a series of major acquisitions. If it is able to bag Australia’s Rinker Group, Cemex will become one of the ...

Emerging Markets : Central Bank Hints At Rate Policy Shift

China China’s central bank governor Zhou: Trade surplus will be lowered China’s central bank is considering further options for lowering the country’s trade surplus and tightening the money supply, governor Zhou Xiaochuan told reporters in Switzerland at a January meeting ...

Emerging Markets : India’s Biggest Ipo Tumbles In Debut

News The Indian arm of Scotland-based oil and gas company Cairn Energy was anything but a gusher in its debut on the Bombay Stock Exchange on January 9. Cairn India fell 14% below its initial public offering price on its ...

Emerging Markets : Venezuelan Financial Group Launches New Adr Program

Dr News JPMorgan Chase announced the launch of a sponsored American depositary receipt program for the Series A common shares of Mercantil Servicios Financieros, the largest financial services group in Venezuela. The Caracas-based holding company owns Banco Mercantil, Venezuela’s leading ...

Best Trade Finance Banks

Cover Story : World’s Best Trade Finance Banks 2007

Global Finance selects the leaders in a specialized area of finance that is changing rapidly Global trade finance has become an extremely competitive business, mainly suitable for financial institutions with economies of scale or special expertise. Most international trade is ...

Milestones

Milestones : Ruble Becomes Full Settlement Currency

Russia Tessler:Wants better standards in Russian capital markets The international central security depositary (ICSD) Clearstream is the first to accept the Russian ruble as an eligible settlement currency. Following increasing demand from issuers and investment banks, the ruble became a ...

Milestones : Uncertainty Surrounds Impact Of Second Chávez Term

Venezuela Chávez:Re-election mandate for nationalization Encouraged by a strong mandate in the December presidential elections and a booming oil sector windfall that boosted GDP by 10.3% in 2006, Venezuela’s president Hugo Chávez began a new six-year term in January by ...

Corporate Finance

Corporate Finance : Corporate Financing Focus

Mergers & Acquisitions Merger Boom Likely To Continue In 2007 Despite Increased Scrutiny of Cross-Border Deals Worldwide mergers and acquisitions announced in 2006 rose 38% to a record $3.8 trillion, according to Thomson Financial, and the fast pace of M&A; ...

Corporate Finance : Credit Cycle In US Could Turn Down In 2007

Corporate Debt Although the US credit markets performed well in 2006, with tight spreads of corporate bonds to US treasury securities, analysts say persistent underlying inflation and a potential weakening in the dollar threaten to cause spreads to widen this ...

Corporate Finance : Depositary Receipts Set Record For IPOs

Global Equity/Drs Initial public offerings in the form of depositary receipts rose more than 75% in 2006 from a year earlier to a record $20.9 billion, according to a year-end analysis by Citigroup. The previous record of $17.1 billion was ...

Corporate Finance : Steadier US Rates Equal Steadier Dollar

Foreign Exchange Chances for a US interest rate cut fell sharply following a string of stronger-than-expected economic data in early 2007, providing a platform for the dollar to rebound from its year-end pounding. Whether the dollar can sustain its recovery, ...

Newsmakers

Newsmakers : Britain Seeks To Lead New Revolution

United Kingdom TUC head, Barber, helping to create a workplace revolution Just a century and a half after it spearheaded the Industrial Revolution, the United Kingdom claims to be at the forefront of another “revolution”—this time in the workplace—which it ...

Newsmakers : India Struggles To Control Aids Spread

India Nanda: Controlling spread of AIDS makes good business sense Three US-based global organizations—including the US-India Business Council—want to make sure that India’s HIV/AIDS epidemic doesn’t eventually deter companies from investing in one of the world’s fastest-growing economies. India now ...