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Cover Story

Fast And Loose

COVER STORY: GAIN OR PAIN By Paula L. Green In their headlong rush to set up operations in the fast-growing emerging markets, many Western companies are failing to take full account of the risks involved. The consequences could be painful. ...

Emerging Markets Roundup

Fast And Loose

COVER STORY: GAIN OR PAIN By Paula L. Green In their headlong rush to set up operations in the fast-growing emerging markets, many Western companies are failing to take full account of the risks involved. The consequences could be painful. ...

China: Renminbi’s Role In Global Trade Grows

NEWSMAKERS: CHINA By Shu-Ching Jean Chen Commonly known for adopting a slow and measured approach to major reform, China has surprised markets with the speed of its moves to internationalize its currency. China's yuan: Going global? Its latest move, to ...

FX: Dollar Still Main Reserve Currency

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE By Denise Bedell Contrary to some analysts' expectations, developing countries continue to view the US dollar as the reserve currency of choice, as evidenced by newly allocated official reserves of developing countries—even in the face ...

M&A: M&A Funding - Not All Cash

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS By Denise Bedell While much has been said about the hoards of cash that companies are holding on their balance sheets, companies are likely to use a blend of financing options, according to some ...

Company To Watch: Hyundai Heavy Industries

COMPANY TO WATCH: RISING SHIP ORDERS LIFT HYUNDAI HEAVY INDUSTRIES By Gordon Platt The growth in world trade, as well as higher cargo rates, has triggered a surge in orders for new containerships. The trend is boosting the fortunes of ...

DR News: Record US Listings for Chinese Firms

EMERGING MARKETS INVESTOR: DR NEWS By Gordon Platt China-based companies listed on US exchanges in record numbers in 2010 and were among the best-performing initial public offerings, although many had trouble holding on to their first-day gains. With 41 US ...

EM News: Equity Markets To See More Growth

EMERGING MARKETS INVESTOR: NEWS By Anita Hawser Emerging market equities look set to enjoy another strong year in 2011 on the back of robust economic growth fueled by domestic consumption and a recovery in exports. "Emerging equities are expected to ...

Emerging Markets Roundup: Africa

ROUNDUP: AFRICA By Antonio Guerrero Government incentives are paying off for Zambia's copper sector, with output expected to surpass 740,000 tons this year for the first time, pushing it above the record highs of the early 1970s. Payback: Incentives have ...

Emerging Markets Roundup: Brazil

ROUNDUP: BRAZIL By Antonio Guerrero The Brazilian government is taking further measures to halt a currency rally that may dent the country's trade surplus, with the real having gained more than 40% against the dollar since the end of 2008. ...

Emerging Markets Roundup: China

ROUNDUP: CHINA By Thomas Clouse China has begun taking steps to cool the growth of its automotive market after a 32% increase in vehicle sales last year worsened traffic and air pollution problems in many Chinese cities. Red light: Beijing ...

Emerging Markets Roundup: India

ROUNDUP: INDIA By Aaron Chaze New Delhi–based IndiGo, India's third largest domestic airline, placed the world's largest single order ever for commercial jetliners. Flying high: IndiGo places record-breaking aircraft order IndiGo ordered 180 aircraft with a list price total of ...

Emerging Markets Roundup: Middle East

ROUNDUP: MIDDLE EAST By Gordon Platt Saudi Arabia announced a record budget for 2011, which includes $155 billion in spending, an increase of 7.4% from a year earlier. Sunny outlook: Qatar's soccer stadiums will use solar power Although the rate ...

Emerging Markets Roundup: Russia

ROUNDUP: RUSSIA By Kim Iskyan The US Senate in late December ratified the New START treaty, which calls for reductions in nuclear arms by both Russia and the US. Obama in New START with Russia The long-debated agreement improves relations ...

The World's Best Trade Finance Banks

Best Trade Finance Banks 2011

TRADE FORECAST: CLOUDY WITH A CHANCE OF PROTECTIONISM By Gordon Platt Bankers are optimistic that financing will be available to support projected growth in world trade, but regulatory change and currency wars have them on edge. Trade finance is the ...

Milestones

Russia: Playing Catch-Up To Fellow BRICs

MILESTONES: RUSSIA By Laurence Neville Russia spent much of 2010 in the doldrums. Russia: Poised for significant growth While its fellow BRICs—Brazil, India and China—stormed ahead, Russia lagged behind. The causes of its lethargy were varied, but an overreliance on ...

Singapore: The Cost Of Record Growth

MILESTONES: SINGAPORE By Thomas Clouse After a year in which its economy expanded at the fastest rate since it achieved independence in 1965, Singapore may be about to suffer a hangover. Too hot? Singapore aims for sustainable growth in 2011 ...

Mexico: Drug War Dents Economic Recovery

MILESTONES: MEXICO By Antonio Guerrero While Mexico's economy is recovering from its worst recession in 80 years, the spread of drug-related violence is hindering a more dynamic rebound. The drug war has claimed more than 30,000 victims since president Felipe ...

Corporate Finance

Debt: High-Yield Credit Quality Rises

CORPORATE FINANCING NEWS: CORPORATE DEBT By Denise Bedell After a record year, and four months hovering at around $30 billon in monthly issuance volumes, US high-yield debt issuance declined in December to $21 billion, according to data from KDP Investment ...

DRs: IPOs Smash Quarterly Record

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS By Denise Bedell It was a benchmark year for the global IPO markets, in more ways than one. In the last quarter of 2010, IPOs broke records in terms of issuance volumes, with $122.2 billion ...

FX: Dollar Still Main Reserve Currency

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE By Denise Bedell Contrary to some analysts' expectations, developing countries continue to view the US dollar as the reserve currency of choice, as evidenced by newly allocated official reserves of developing countries—even in the face ...

M&A: M&A Funding - Not All Cash

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS By Denise Bedell While much has been said about the hoards of cash that companies are holding on their balance sheets, companies are likely to use a blend of financing options, according to some ...

Newsmakers

China: Renminbi’s Role In Global Trade Grows

NEWSMAKERS: CHINA By Shu-Ching Jean Chen Commonly known for adopting a slow and measured approach to major reform, China has surprised markets with the speed of its moves to internationalize its currency. China's yuan: Going global? Its latest move, to ...

Poland: Consolidation Looms In Banking Industry

NEWSMAKERS: POLAND By Jonathan Gregson Not only does Poland stand alone within the European Union in having delivered GDP growth through every quarter since 2008, but its intrinsically conservative banking system survived the crisis well. Jagiełło: Looking to buy That ...

Russia: Playing Catch-Up To Fellow BRICs

MILESTONES: RUSSIA By Laurence Neville Russia spent much of 2010 in the doldrums. Russia: Poised for significant growth While its fellow BRICs—Brazil, India and China—stormed ahead, Russia lagged behind. The causes of its lethargy were varied, but an overreliance on ...

Singapore: The Cost Of Record Growth

MILESTONES: SINGAPORE By Thomas Clouse After a year in which its economy expanded at the fastest rate since it achieved independence in 1965, Singapore may be about to suffer a hangover. Too hot? Singapore aims for sustainable growth in 2011 ...

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 ...

US: Treasurers Oppose Tighter Rules On MMFs

NEWSMAKERS: UNITED STATES By Anita Hawser Proprietary trading by banks and OTC derivatives has come under increased regulatory scrutiny following the 2008 subprime crisis, but, to the surprise of many, regulators are also fixing their gaze on money market funds ...

Additional Stories

Corporate Toolbox: Cyber Security

CYBERSECURITY: HIDDEN THREAT By Anita Hawser Recent increases in cyberattacks have raised alarming questions over corporate network security. In February 2010 the Kneber botnet virus infected more than 70,000 computers globally, including some at US government agencies. The attack was ...

Country Report: Angola

ANGOLA: ON THE ROAD TO RECOVERY By Dan Keeler Ravaged by a 27-year civil war and buffeted by the recent global financial crisis, Angola has suffered more than its fair share of challenges. Undaunted, its leaders are striving to reshape ...

Focus: Mobile Banking

MOBILE BANKING: CUTTING THE TIES THAT BIND By Denise Bedell Mobile technology could forever change the way that companies manage their physical and financial supply chains. After years in development, mobile technology may be finally closing the gap between companies' ...

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 ...

Sector Report: Islamic Finance

ISLAMIC FINANCE: ISLAMIC BANKING BY THE BOOK By Anita Hawser The growing popularity of Islamic financing and an intensified focus on risk management in the global banking industry are prompting greater awareness of the need for a unified—and appropriate—regulatory regime. ...

Update: Custody and Investor Services

CUSTODY & INVESTOR SERVICES: IN SAFE HANDS By Anita Hawser Custodians have seen their role expand as a result of recent regulatory and market-driven changes. In the wake of Lehman's collapse, Bernie Madoff's $50 billion Ponzi scheme and the regulatory ...