Magazine Cover

Cover Story

Cover Story: EUROPE 2020

AFTER THE TURMOIL: WHAT COMES NEXT?

By Jonathan Gregson, Justin Keay and Vanessa Drucker

How the European Union will look in 2020 is unclear. Whether it will see tighter union, a tiered eurozone, or will cease to exist altogether is ...

Emerging Markets Roundup

Cover Story: EUROPE 2020

AFTER THE TURMOIL: WHAT COMES NEXT?

By Jonathan Gregson, Justin Keay and Vanessa Drucker

How the European Union will look in 2020 is unclear. Whether it will see tighter union, a tiered eurozone, or will cease to exist altogether is ...

Debt: Ford Motor Credit, GE

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Ford Motor Credit, the finance arm of the second-largest US automaker, and General Electric, the world's biggest maker of diesel locomotives and jet engines, were first out of the gate with ...

DRs: Depositary Receipt Pipeline Full

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

Depositary receipt investors pushed trading to a record high last year, demonstrating the continued popularity of DRs, despite challenging market conditions.

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While the amount of capital raised by corporate issuers was ...

M&A: China Three Gorges Wins EDP Bid

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

China Three Gorges, a state-owned company that operates the world's largest hydropower project, bought a 21% stake in EDP, Portugal's largest company and utility.

The Chinese company also purchased a ...

Company To Watch: Yandex / Russia

'RUSSIAN GOOGLE' BUYS SOFTWARE FIRM TO BOOST MOBILE OFFERINGS

By Gordon Platt

Yandex, the leading Internet search engine in Russia, with a 63% market share, purchased SPB Software last November to increase its mobile services.

Yandex has also teamed up ...

DR News: Thai Firms Build Exposure With Unsponsored ADRs

EMERGING MARKETS INVESTOR: DR NEWS

By Gordon Platt

BNY Mellon set up unsponsored American depositary receipt (ADR) programs for two Thailand-based companies in December, Thai Airways International, the national carrier of Thailand, and BEC World, a television broadcasting and media ...

EM News: New ‘Tigers’ Will Dominate Economic Growth

EMERGING MARKETS INVESTOR: NEWS

By Gordon Platt

The BRIC countries—Brazil, Russia, India and China—now contribute more than half of the world's economic growth, while the broader emerging markets provide more than 70% of current global growth.

Growth ...

Emerging Markets Roundup: Africa

NIGERIA BUILDS BIOFUEL CAPACITY AS ZIMBABWE BRACES FOR ENERGY SHORTAGE

By Antonio Guerrero

The Nigerian government has signed a memorandum of understanding with Global Biofuels, a Nigerian biofuels producer, for the construction of 15 integrated biofuels refineries at an investment ...

Emerging Markets Roundup: Brazil

STATE-OWNED BANKS TO BOOST ENDING

By Antonio Guerrero

Brazil's government is investing more than $500 million this year recapitalizing two state-controlled banks to boost lending.

The nation's Treasury will invest $269 million in the BNDES national development bank ...

Emerging Markets Roundup: China

NEW TARIFFS TO COST FOREIGN AUTOMAKERS

By Thomas Clouse

Amid charges that US companies sold automotive parts at prices below production costs, the Chinese government has said it will impose tariffs on imported US-made products.

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Harnessing wind power in China ...

Emerging Markets Roundup: Russia

PROTESTERS TAKE TO THE STREETS AFTER ELECTIONS

By Kim Iskyan

Political risk assumed center stage in Russia, as tens of thousands of demonstrators peacefully took to the streets in Moscow and throughout the country to protest widespread fraud in the ...

Investment Banking In Asia

ASIA'S BANKS ON THE WAY UP

By Michael Shari

Asian investment banks are starting to edge out their top-ranking American and European competitors as global investors take risk off the table in Asia.

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China International Capital Corp may not ...

Special Report: BRICs

Shifting Trade Flows And The New Consumer

By Dan Keeler

Fast-growing trade between BRIC countries has been fueled by an expanding middle class. Western rivals face stiff local and regional competition in building emerging markets growth.

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A decade has passed ...

Global Salon

Global Salon: Ian Bremmer, Eurasia

NO HAND AT THE HELM

By Paula Green

As part of its Salon series, Global Finance sat down on January 11 with Ian Bremmer, president and founder of political risk analysis firm Eurasia Group, to discuss increasing geopolitical upheaval and ...

Milestones

New Year, New Fed With Rates Forecasts And Clear Targets

MILESTONES: UNITED STATES

By Gordon Platt

The Federal Reserve has found a new way to communicate its intentions to the markets. It will publish forecasts for the federal funds rate, the key short-term interest rate under its direct control.

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Fed ...

Protests Rock Nigeria After Gas Subsidies Are Pulled

MILESTONES: NIGERIA

By Michael Shari

The government of Nigeria took a calculated political risk when it removed gasoline subsidies on January 1.

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Paying at the pump: Nigeria ends gasoline subsidies

The sudden move more than doubled local prices at the ...

Corporate Finance

Debt: Ford Motor Credit, GE

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Ford Motor Credit, the finance arm of the second-largest US automaker, and General Electric, the world's biggest maker of diesel locomotives and jet engines, were first out of the gate with ...

DRs: Depositary Receipt Pipeline Full

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

Depositary receipt investors pushed trading to a record high last year, demonstrating the continued popularity of DRs, despite challenging market conditions.

300 Regulars_30-Global-Equity

While the amount of capital raised by corporate issuers was ...

FX: Dollar Looks Good Versus Euro

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

The Japanese yen will hold its own as a safe-haven currency in 2012, while the dollar will be less ugly than the euro, analysts forecast.

Based on relative economic growth and expected ...

M&A: China Three Gorges Wins EDP Bid

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

China Three Gorges, a state-owned company that operates the world's largest hydropower project, bought a 21% stake in EDP, Portugal's largest company and utility.

The Chinese company also purchased a ...

Newsmakers

Hildebrand Out At SNB After Wife’s FX Trading Binge

NEWSMAKERS: SWITZERLAND

By Valentina Pasquali

In the midst of Europe's sovereign debt crisis, a scandal hit the beleaguered continent's financial system in January.

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Hildebrand forced out of Swiss Central Bank role

The head of Switzerland's central bank ...

Mezouar Takes His Post As Opposition Leader

NEWSMAKERS: MOROCCO

By Michael Shari

Minister until recently in the reigning government's cabinet in Morocco, Salaheddine Mezouar is now the official leader of the opposition party in the country's parliament.

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Making his vote count: As opposition leader, Mezouar ...

Passera Faces Tough Job To Win Over Italian Parliament

NEWSMAKERS: ITALY

By Paula Green

Ready or not, as minister of economic development, infrastructure and transport for the newly-formed government of prime minister Mario Monti, Italian banker-turned-bureaucrat Corrado Passera will be honing his political skills this year.

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Passera ponders his ...

Rousseff Declares 2012 A New Era Of Prosperity For Brazil

NEWSMAKERS: BRAZIL

By Antonio Guerrero

Brazilian president Dilma Rousseff, a former technocrat and Marxist activist, completed her first year in office on January 1 with a 72% approval rating.

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Rousseff: A pragmatist with no tolerance for corruption

Rousseff, who was ...

The World's Best Trade Finance Banks

Awards: Best Trade Finance Banks 2012

ANNUAL SURVEY AND AWARDS: LIQUIDITY AND REGULATIONS SQUEEZE TRADE FINANCE

By Gordon Platt

The global economy is threatened by a shortage of financing for international trade, as banks reassess their business models.

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The availability and cost of trade financing could ...

Best Trade Finance Banks 2012: Regional Winners

By Gordon Platt

BEST TRADE FINANCE BANKS 2012: REGIONAL WINNERS

AMERICAS

Citi

Citi's trade finance business set records across the board in 2011, as all of the pieces seemed to fall in place for the bank. "We were in ...

Additional Stories

Country Report: Saudi Arabia

OPEN FOR BUSINESS

By Gordon Platt

Saudi Arabia is preparing to open its stock markets to foreign investment, and it has reinforced its financial management team in preparation for this and broader economic reforms.

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Saudi Arabia, the world's largest ...

Custody & Investors’ Services

RESTORING TRUST

By Paula Green

Custodians are dealing with the impact of major regulatory reforms and a loss of confidence in investors' services safety after the devastation of the MF Global debacle.

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The expanding web of government regulations permeating the ...

Market Focus: Equity Derivatives

KEEPING IT VANILLA

By Vanessa Drucker

Corporate users of equity derivatives continue to seek out simple, transparent products. Until regulatory overhaul is complete, this tack is unlikely to change.

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The ripples from the 2008 financial crisis continue to flow, even ...

Sector Report: Middle East Telecoms

SOWING SEEDS OF CHANGE

By Anita Hawser

The Arab Spring heralded the beginnings of reform and showed the growing importance of social media in enabling communal action. The telecoms sector in the Middle East has been forever changed as a ...

TCM Focus: Corporate Payments

CARD TRICKS By Denise Bedell Advanced card solutions are helping companies extend working capital cycles while improving suppliers' cash flow. The drive to automate payments has been a long-term trend, pushed further by the global financial crisis and the need ...