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Cover Story

Drowning In Debt

COVER STORY: AFTER THE BAILOUT   The turmoil in Greece and the subsequent rout of the euro have rattled global markets and caused a renewed bout of hand-wringing over the stability of the global economy. Some believe the developed markets ...

Features

Books Excerpt: Losing Control

BOOKS —LOSING CONTROL   By Stephen D. King   The world is witnessing a massive redistribution of wealth as the West learns it can no longer live beyond its means, says HSBC's group chief economist Stephen D. King, author of ...

On The Right Path

ON THE RIGHT PATH   By Gordon Platt     For the Gulf Cooperation Council (GCC), there have been setbacks on the road to a common currency, which now appears unlikely to be introduced anytime in the next five years, ...

Gulf Report: Game Changer

ISLAMIC FINANCING BREAKTHROUGH   By Anita Hawser   GAME CHANGER   The arrival of the first globally standardized documentation for privately negotiated Islamic hedging products marks a major breakthrough in Islamic finance and risk management.     Compared to the ...

Award Winners

The World's Best Sub-Custodians

ANNUAL SURVEY: THE WORLD'S BEST SUB-CUSTODIANS   Sub-Custodians Feeling The Heat   Global investing in turbulent times puts the spotlight on local safekeepers.   By Gordon Platt     As they seek to reassure investors that their assets in foreign ...

Best Supply Chain Finance Providers 2010

ANNUAL SURVEY —BEST SUPPLY CHAIN FINANCE PROVIDERS 2010   Joining The Chain Gang   By Anita Hawser   The leading players in the supply chain finance business demonstrate the benefits of innovation and commitment to a growing market.   A ...

Treasury & Cash Management Awards

Awards Ceremony   New York City   In late April, over 50 people came to the New York Harvard Club to celebrate the winners of Global Finance's seventh annual Best Treasury & Cash Management Awards. Cash management banks maintain that ...

Slow Take-Off

READERS' CHOICE AWARDS   By Paula L. Green   Best Hotels & Airlines   Business travel is slowly recovering from a recession-induced slump.   The corporate clampdown on travel budgets that began during the global recession is gradually easing, and ...

Emerging Markets Roundup

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   The African Development Bank (AfDB), which plans to increase its capital base to $100 billion, launched a $600 million fund to strengthen African banks. The fund was created through a partnership with the European ...

Emerging Markets: Brazil

ROUNDUP   By Antonio Guerrero   Petrobras, Brazil’s state-controlled oil company, is planning a $25 billion rights issue—one of the largest in history. The company hired Bank of America Merrill Lynch, Bradesco BBI, Citigroup, Itau BBA, Morgan Stanley and Banco ...

Emerging Markets: China

ROUNDUP   By Thomas Clouse   China is making its currency exchange rate more flexible, the central bank announced on June 19, loosening the Chinese renminbi’s 23-month-long peg to the US dollar. The announcement came after China’s trade surplus rose ...

Emerging Markets: India

ROUNDUP   By Aaron Chaze   Faced with a daunting budget deficit, the Indian government has decided to risk a painful backlash by India’s poor and eliminate price controls on gasoline. The government also cut subsidies on diesel, LPG and ...

Emerging Markets: Russia

ROUNDUP   By Kim Iskyan   Lighting up: Russia launches bid to become financial center In mid-June at the St. Petersburg International Economic Forum, Russia’s answer to Davos, Russian president Dmitry Medvedev continued to pitch his modernization campaign, which is ...

Country Report

Pole Position

Country Report: Poland   By Justin Keay   Having weathered the recent global crisis better than almost any other European country, Poland is laying the foundation for a sustainable long-term recovery.     Poland's tumultuous history has made it no ...

Steady Progress

Country Report: Portugal   By Denise Bedell   Portugal has been hit hard by the general uncertainty over the eurozone's future, but its prospects are outshining some of its neighbors'.     It may still be laboring in Greece's shadow, ...

Milestones

IMF Identifies Reasons For Markets' Resilience

NEWSMAKERS: EMERGING MARKETS   By Anita Hawser   Rosy future: Emerging hubs such as Mumbai recovered fast As the dust continues to settle following the recent global financial crisis, the International Monetary Fund is attempting to explain why so many emerging ...

Corporate Finance

Newsmakers

New Leader Promises To Heal Regional Wounds

NEWSMAKERS: COLOMBIA   By Antonio Guerrero   Juan Manuel Santos Colombians have reaffirmed their support for conservative politics and economics, electing the newest member of a growing group of right-wing Latin American leaders. President-elect Juan Manuel Santos won the run-off ...