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Country Report: Kuwait

LONG-TERM VISION

By Justin Keay

Kuwait’s development in recent years has been driven by the state, with little FDI. However, upcoming elections promise a new government that could improve the business climate for foreign investors.

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When protesters stormed Kuwait ...

The World's Best Foreign Exchange Providers

Best Foreign Exchange Providers

ANNUAL SURVEY & AWARDS: FX PROVIDERS BET BIG ON TECHNOLOGY

By Gordon Platt

The most successful FX banks are boosting their IT spending and competing on price and service in an effort to maintain market share.

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As the foreign exchange market ...

FX: Eurozone Plan Is A Start

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

Another EU summit ended in December with agreement on a new fiscal compact for the eurozone, but like previous efforts to rescue the common currency, the accord was less than comprehensive, and ...

Newsmakers

Barney Frank Says Farewell To Congress

NEWSMAKERS: UNITED STATES

By Paula Green

Will Wall Street miss US Congressman Barney Frank, the ranking Democrat on the House Financial Services Committee (HFSC) and architect of the 2010 legislation aiming to avert another global financial disaster?

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Frank will not ...

Mistry To Take The Helm At Tata Sons

NEWSMAKERS: INDIA

By Aaron Chaze

After two decades leading India’s largest and most respected conglomerate, Ratan Tata will step down in December 2012 as chairman of Tata Sons—the holding company that runs the $83 billion Tata group of ...

Rajoy Hopes To Reassure Investors In Spain

NEWSMAKERS: SPAIN

By Valentina Pasquali

Like Greece and Italy, Spain too has a new government, tasked with bringing the country back from the brink.

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Rajoy heads new government

Unlike Greece’s Lucas Papademos and Italy’s Mario Monti, Spain’s ...

Sanusi Fears Impact Of European Crisis

NEWSMAKERS: NIGERIA

By Anita Hawser

Nigerian central bank governor Lamido Sanusi believes the likelihood of European banks going into a major crisis is quite high, and is concerned over the impact on Nigerian oil exports.


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Sanusi looks to Asia for ...

Milestones

AT&T Won’t Hang Up On T-Mobile

MILESTONES: US/GERMANY

By Gordon Platt

Facing a $4 billion breakup fee, AT&T is working hard to make its proposed merger with T-Mobile a reality, despite regulatory stumbling blocks.

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Deal to create the largest US wireless carrier is in ...

Deep Freeze On IMF Lending To Ukraine

MILESTONES: UKRAINE

By Kim Iskyan

The IMF’s $15 billion loan program to Ukraine looks increasingly likely to be suspended at least until parliamentary elections in October 2012, following an early November visit by the IMF that ended without recommending ...

Resource-Rich Myanmar Open For Investment

MILESTONES: MYANMAR

By Thomas Clouse

Preparing to chair the Association of Southeast Asian Nations (ASEAN) in 2014, Myanmar is also opening its doors to foreign investment.

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A new dawn breaks in Myanmar, which is open for business

Leaders from ASEAN ...

Toronto To Overtake London As A Hub For Bankers

MILESTONES: TORONTO

By Erik Heinrich

Canada’s financial capital is on track to become one of the largest global banking centers—overtaking London in the number of banking jobs by 2017, according to Moody’s Analytics.

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Toronto to overtake London ...

Corporate Finance

Debt: Sprint Leads New Issuance Rebound

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

New-issuance volume in the US high-yield market rose sharply in November, led by a $4 billion, two-part offering from Sprint Nextel, the third-largest US mobile network operator.

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The Kansas company placed $3 ...

DRs: New China Life Raises $1.9 Billion

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

New China Life Insurance raised $1.9 billion in an initial public offering in Hong Kong and Shanghai in December, but it was forced to price the issue at the bottom ...

M&A: Anglo American Controls De Beers

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Anglo American, one of the world’s largest mining companies, gained a long-coveted majority stake in diamond mining company De Beers, in one of two M&A deals that the British firm ...

Emerging Markets Roundup

M&A: Anglo American Controls De Beers

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Anglo American, one of the world’s largest mining companies, gained a long-coveted majority stake in diamond mining company De Beers, in one of two M&A deals that the British firm ...

Best Foreign Exchange Providers: Global Winner

By Gordon Platt

BEST FOREIGN EXCHANGE PROVIDERS: GLOBAL WINNER

Deutsche Bank

Deutsche Bank has managed to stay on top of the FX world year after year. It has the biggest, most diversified and most profitable foreign exchange operation of any ...

Best Foreign Exchange Providers: Regional Winners

By Gordon Platt

BEST FOREIGN EXCHANGE PROVIDERS: REGIONAL WINNERS

NORTH AMERICA

Citi

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Feig, Citi: We have invested in people and technology and are seeing our market share rise as a result

As Citi prepares to celebrate its 200th anniversary in ...

Best Foreign Exchange Research & Analysis

By Gordon Platt

BEST FOREIGN EXCHANGE RESEARCH & ANALYSIS

RESEARCH

BNY Mellon

BNY Mellon, one of the largest foreign exchange dealers in the United States, offers support in virtually all currencies, with particular expertise in emerging markets.

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Derrick, BNY Mellon Global ...

DR News: Unsponsored ADR Market To Slow

EMERGING MARKETS INVESTOR: DR NEWS

By Gordon Platt

New unsponsored American depositary receipt (ADR) program creation is likely to slow down in the short to medium term, according to a report by Celent, a Boston-based financial research and consulting firm ...

EM News: Mexican Exchange Woos High-Frequency Traders

EMERGING MARKETS INVESTOR: NEWS

By Gordon Platt

The Bolsa Mexicana de Valores exchange in Mexico City says it will introduce faster trading technology by the middle of 2012 in an effort to attract more high-frequency traders.

BMV says the new ...

Emerging Markets Roundup: Africa

NIGERIAN INBOUND INVESTMENT FRAMEWORK IMPROVING

By Antonio Guerrero

Nigerian President Goodluck Jonathan says his administration is reviewing industrial policies to encourage foreign companies exporting finished goods to Nigeria to instead manufacture them locally.

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New policies encourage local assembly of foreign ...

Emerging Markets Roundup: India

SINKING PUPEE AFFECTS CORPORATE DEBT REPAYMENT

By Aaron Chaze

Corporate borrowers in India have been hard hit by the rupee slide—the currency fell 18% over the dollar between January and November, 2011, and fell 7% in November alone.

According ...

Emerging Markets Roundup: Russia

WHILE PROFITS SOAR, SBERBANK HALTS FOREIGN INVESTMENTS

By Kim Iskyan

Russian state savings bank Sberbank posted a 74% jump in third-quarter profits in late November on the back of sharp growth in lending.

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Putin gets poor response in parliamentary elections ...

Environmental Risk Insurance

ENVIRONMENTAL INSURANCE: GLOBAL EXPOSURE MANAGEMENT

By Anita Hawser

Environmental risk insurers are offering more sophisticated solutions and a broader range of coverage amounts.

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A fire broke out at a chemical plant in Moerdijk, Netherlands, in January 2011. The plant belonged ...

Sector Report: Commodities

COMMODITIES TEST THE BORDERS OF INTERNATIONAL FINANCE

By Michael Shari

Commodity producers are turning to specialized banks that are willing to take multiple layers of risk in private deals.

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Great ideas are born at times like these. Prices for all ...

Sector Report: Real Estate Finance

REAL ESTATE FINANCING: NEW AVENUES

By Vanessa Drucker

Real estate projects are getting capital injections from new and diverse sources as traditional bank lending dries up.


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Banks around the world have become skittish about lending. Although central banks have flooded ...

Seeking Alternatives

COVER STORY: ALTERNATIVE FINANCING

By Laurence Neville

Small and medium-size companies are vital to economic growth and critical to corporate supply chains. Yet traditional lending is virtually closed to SMEs in most markets—certainly in developed markets of the West ...

Special Report: Infrastructure Finance

NEW HORIZONS

By Solomon Teague

Regulation is making it harder for banks to lend to infrastructure projects. New types and sources of funding will be needed to handle a wave of infrastructure development now under way—particularly in the emerging ...

Global Salon

Global Salon

WINDOWS OF OPPORTUNITY

By Matt Greco

Global Finance sat down with Martin Fridson, high-yield market specialist and global credit strategist at BNP Paribas Asset Management, in early December to get his take on US and global debt markets during one ...

Additional Stories

Best Online Foreign Exchange Trading Systems

By Gordon Platt

BEST ONLINE FOREIGN EXCHANGE TRADING SYSTEMS

BANK SYSTEM

State Street’s Currenex

The Currenex foreign exchange trading platform uses patented technology to match orders and aggregate liquidity. Its high-speed, low-latency API (application programming interface) provides access to ...

Company To Watch: KGHM POLSKA MIEDŹ / Poland

POLISH COPPER, SILVER MINER ROLLS WITH THE PUNCHES

By Gordon Platt

After KGHM Polska Miedź reported that its third-quarter 2011 profits had tripled from the same period a year earlier, the Polish government immediately announced a significant increase in taxes ...