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Cover: A New Economic Model For China

THE HUNT FOR INTERNAL GROWTH By Laurence Neville China is in the midst of an economic makeover to increase domestic consumption and reduce reliance on external markets for growth. But how far are policymakers willing to go, and when? For ...

Emerging Markets Roundup

Cover: A New Economic Model For China

THE HUNT FOR INTERNAL GROWTH By Laurence Neville China is in the midst of an economic makeover to increase domestic consumption and reduce reliance on external markets for growth. But how far are policymakers willing to go, and when? For ...

Debt: Positive Bond Returns In 2013

CORPORATE FINANCING NEWS: CORPORATE DEBT By Gordon Platt Analysts expect another year of positive returns for the fixed-income markets in 2013, although gains will be harder to com e by than in 2012, owing to narrower spreads. Emerging markets corporate ...

M&A: A Return To The Fast Lane For M&A

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS By Gordon Platt Mergers and acquisitions could gain traction in 2013, following a disappointing year for dealmaking activity in 2012. Although the global economic outlook remains clouded, there are plenty of bright spots, analysts ...

Country Report: Kuwait

SURMOUNTING THE STATUS QUO By Justin Keay Despite its wealth and strong banking sector, Kuwait is being held back by its failure to invest internally and diversify away from oil. The demonstrations that preceded—and followed—Kuwait’s parliamentary elections on December 1 ...

Emerging Markets Roundup: Africa

G HANA INVESTS IN RENEWABLES By Antonio Guerrero UK-based Blue Energy will invest $400 million to build Africa’s largest solar photovoltaic power plant in Ghana. The Nzema project will produce 155 megawatts, increasing the country’s generating capacity by 6% when ...

Emerging Markets Roundup: Brazil

BP TO EXPAND ETHANOL PRODUCTION By Antonio Guerrero Aiming to accelerate industrial growth, the Brazilian government extended its PSI investment program through 2013, providing $48 billion in financing to support subsidized loans for industrial producers to invest in capital goods. ...

Emerging Markets Roundup: China

SEC PROBE CASTS SHADOW ON CHINESE FIRMS’ US LISTINGS By Thomas Clouse The US Securities and Exchange Commission filed charges against the Chinese branches of five international accounting firms in December for failing to provide information related to investigations into ...

Emerging Markets Roundup: India

FDI Reforms Get Parliamentary Approval By Aaron Chaze Both the lower and upper houses of India’s parliament voted during the first week of December to allow foreign direct investment in India’s domestic retail sector—a major win for prime minister Manmohan ...

Emerging Markets Roundup: Russia

BATTLE RAGES ON FOR NORILSK NICKEL By Kim Iskyan Russia’s economy continued to show signs of slowing, as preliminary GDP for October 2012 clocked in at a very weak 2.3%, marking the fifth consecutive month of deceleration. Can Abramovich end ...

Frontier Markets Focus

WORLD OF OPPORTUNITY By Dan Keeler In a new monthly feature, Global Finance delves deep into the opportunities in frontier markets. With youthful populations, underutilized natural resources and eagerness to join the global economic community, the world’s frontier markets are ...

Sector Report: Commodities

WILD SEASON By Michael Shari Volatile commodities prices are poised to drive an M&A wave and are already changing how companies hedge against price swings. A storm is brewing in the global commodities markets. Perceptions of global risk are running ...

Global Salon

Global Salon: Sergio Luna, Banamex

DIVERGING ECONOMIES By Vanessa Drucker For this month’s Salon, Global Finance sat down with Sergio Luna, assistant director of economic research at Banamex and liaison to the research group of economic analysis and markets, Citigroup, in New York. Global Finance: ...

The World's Best Foreign Exchange Providers

Best FX Providers: Best Online Foreign Exchange Trading Systems

By Gordon Platt BEST ONLINE FOREIGN EXCHANGE TRADING SYSTEMS BANK SYSTEM Deutsche Bank’s Autobahn Deutsche Bank introduced a new version of its Autobahn trading system in July 2012 that allows customers to keep track of all of their trades in ...

Best FX Providers: Global Winners

By Gordon Platt BEST FOREIGN EXCHANGE PROVIDERS: GLOBAL WINNER Deutsche Bank Deutsche Bank increased its market-leading FX volume in 2012, at the same time that it reduced value-at-risk and headcount. Crucial to this development has been its investment in technology, ...

Best FX Providers: Regional Winners

By Gordon Platt BEST FOREIGN EXCHANGE PROVIDERS: REGIONAL WINNER NORTH AMERICA Citi Citi’s foreign exchange operations, CitiFX, had a very good year in 2012, which marked the bank’s 200th anniversary. Its FX volume continued to expand rapidly, and it gained ...

Best FX Providers: Research & Analysis

By Gordon Platt Best Foreign Exchange Research & Analysis RESEARCH BNY Mellon BNY Mellon, one of the largest foreign exchange dealers in the US, trades more than $42 billion in the FX market on an average day. The bank’s 10 ...

FX: Yen’s Fall Awakens FX Market

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE By Gordon Platt The yen took a nasty tumble last month, shaking the sleepy foreign exchange market out of a long slumber. While the attention of market participants was focused on the European debt crisis ...

Milestones

Europe And UK Relations Hit Low Tide

MILESTONES: UK/EU By Justin Keay UK and EU relations have always been tense, but their relationship has deteriorated dramatically in recent months. While headlines have focused on noisy arguments over support for struggling eurozone members or London’s opposition to increasing ...

Fed Prepares To Clamp Down On Foreign Banks

MILESTONES: US/GLOBAL By Gordon Platt The US Federal Reserve wants foreign banks with large operations in the US to be subject to the same rules on capital and liquidity that apply to big US banks. Tarullo wants foreign banks with ...

Corporate Finance

Debt: Positive Bond Returns In 2013

CORPORATE FINANCING NEWS: CORPORATE DEBT By Gordon Platt Analysts expect another year of positive returns for the fixed-income markets in 2013, although gains will be harder to com e by than in 2012, owing to narrower spreads. Emerging markets corporate ...

Equity: China, LatAm Could Boost IPOs

CORPORATE FINANCING NEWS: GLOBAL EQUITY / DRS By Gordon Platt After declining sharply in 2012, initial public offerings could stage a turnround in the new year, say analysts, with China and Latin America leading the issuance. The number of global ...

M&A: A Return To The Fast Lane For M&A

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS By Gordon Platt Mergers and acquisitions could gain traction in 2013, following a disappointing year for dealmaking activity in 2012. Although the global economic outlook remains clouded, there are plenty of bright spots, analysts ...

Newsmakers

Billion-Dollar Woman Dressed For Success

NEWSMAKERS: NIGERIA By Valentina Pasquali A 61-year-old Nigerian oil tycoon is now the richest black woman in the world, having recently overtaken American entertainment mogul Oprah Winfrey for the title. Her name is Folorunsho Alakija and she is worth at ...

Canadian Carney Offers A Fresh Perspective At BofE

NEWSMAKERS: UK By Erik Heinrich Mark Carney, governor of the Bank of Canada, will have a new job next year. Post-Libor scandal, UK appoints outsider Carney Photo Credits: CARNEY: REUTERS/MARK BLINCH Starting in July, Carney will cross the pond to ...

Fico Allays Critics’ Concerns As Economy Outperforms

NEWSMAKERS: SLOVAKIA By Justin Keay Emerging Europe doesn’t generate much in the way of good news these days, owing to the region’s proximity to and dependence on the eurozone. Fico has learned from past mistakes Photo Credits: FICO: REUTERS/THOMAS PETER ...

Videgaray Appointment Signals Mexico Is Ready For Reform

NEWSMAKERS: MEXICO By Valentina Pasquali Still struggling with drug-related violence that has killed more than 60,000 people in the past six years, Mexico is a country on the mend. Finance minister, Videgaray, will target energy and fiscal reforms At least ...

Back Page

Back Page: Polls And Stat - Sovereign Wealth Funds

In 2012, the world’s top 36 sovereign wealth funds totaled nearly $5 trillion. Oil- and gas-related SWFs comprised the majority of the overall dollar amount, at 57.3%. With 40.5% of the total pie, Asia was the region with the largest ...

Additional Stories

Annual Awards: Best FX Providers 2013

THE BIG GET BIGGER By Gordon Platt The biggest FX banks are increasing their share of a shrinking market, amid low volatility and despite a speed bump for high-frequency traders. As global interest rates converge at a low level and ...

Risk: Environmental Liability Insurance

THE POLLUTER PAYS By Dave Lenckus As regulators strengthen legislation, pollution insurance is ever-more essential. Many global companies still see pollution regulation as more bark than bite. But many of the world’s major economies are toughening their environmental protection regulations, ...

Stars Of China Awards Ceremony 2012

LOCATION: BEIJING, CHINA Global Finance held its annual Stars of China awards ceremony in Beijing in November. Corporate and financial leaders from across the country were present to accept their awards and honor other recipients. 1 Joseph Giarraputo, publisher, Global ...