Magazine Cover

Cover Story

Dim Sum Best Served At Low Rates

COVER STORY — RENMINBI RISING   By Michael Shari   Multinationals are positioning themselves to capture lucrative gains from the internationalization of China’s currency.   When McDonald’s became the first non-Chinese corporation that was allowed to issue a bond denominated ...

Features

GCC: Big Changes Loom

GCC REGIONAL REPORT: MARKING A MILESTONE   By Gordon Platt   The regional group faces new challenges as it celebrates its 30th anniversary.   The Gulf Cooperation Council (GCC) celebrated its 30th anniversary on May 25 with quiet flag-raising ceremonies ...

Regional Report: GCC

GUNS AND BUTTER   The GCC (Gulf Cooperation Council) countries, led by Saudi Arabia, will spend $120 billion over the next few years to buy advanced fighter planes and anti-missile defense systems. They are spending even larger sums to placate ...

Award Winners

Awards: The World’s Best Subcustodians

ANNUAL SURVEY: MEETING NEW DEMANDS   By Gordon Platt   Subcustodians focus on real-time data and safety of client assets.   The world’s leading subcustodians are investing in new systems to meet an increasing desire from global custodians for real-time ...

Awards: Best In Supply Chain Finance

ANNUAL SURVEY: SUPPORTING ROLE   By Anita Hawser   Banks and nonbanks are driving steady growth in both the volume and the sophistication of supply chain finance.   The global financial crisis provided a “light bulb” moment for many buyers ...

Emerging Markets Roundup

Africa: Ethanol May Trigger Food Fight

EMERGING MARKETS ROUNDUP: AFRICA   by Antonio Guerrero     Sierra Leone opts for controversial biofuel production Africa is poised to enter the world’s growing biofuels market. The biotechnology unit at Addax, a Switzerland-based investment firm, plans to open a ...

Brazil: Admin Supports Corporate Growth

EMERGING MARKETS ROUNDUP: BRAZIL   by Antonio Guerrero   Brazilian companies take flight Board members at Petrobras, the Brazilian state oil company, are calling on the company to tame costs linked to its $224 billion 2011-2015 spending plan. The investment ...

China: Floods Drive Prices Higher

EMERGING MARKETS ROUNDUP: CHINA   by Thomas Clouse   Floods devastate crops Inflation in China accelerated in May to its most rapid rate in 34 months. According to the National Bureau of Statistics (NBS), the consumer price index rose 5.5% ...

India: Tata Steel Sells Assets

EMERGING MARKETS ROUNDUP: INDIA   by Aaron Chaze   Tata Steel: Trimming debt In an attempt to trim its debt, India’s largest steel producer, Tata Steel, is to sell its 26.3% stake in Riversdale Mining, the Australian Stock Exchange–listed coal ...

ME: Lebanon’s Future Uncertain

EMERGING MARKETS ROUNDUP: MIDDLE EAST   by Gordon Platt   After five months of political wrangling, Lebanon’s prime minister Najib Mikati on June 13 announced a new government led by the Shiite Hezbollah movement, giving Syria and Iran renewed influence ...

The World's Best Sub-Custodians

Country Report

Country Report: Portugal

Light At The End Of The Tunnel   By Vanessa Drucker   Portugal’s new political leaders have a plan to dig their country out of its deep fiscal hole.   Portugal is about to receive a dose of strong medicine. ...

Country Report: Ukraine

Uphill Struggle   By Laurence Neville   Ukraine’s recovery appears impressive, but structural cracks remain that could derail it.   At first glance, Ukraine appears to be in fine health. Having been at risk of collapse in the first stage ...

Milestones

Asian Infrastructure Finance Gets International Boost

MILESTONES: ASIA   by Denise Bedell   Charged up: Investment should enhance power grid Vietnam’s National Power Transmission Corporation (NPT) has launched a $200 million, 13-year infrastructure finance facility that demonstrates the growing enthusiasm among international investors for financing Asian ...

Domestic Group Makes Move To Buy Canadian Exchanges

MILESTONES / CANADA   by Erik Heinrich   Near-monopoly: Bid faces antitrust scrutiny The London Stock Exchange (LSE) has been stymied in its attempt to take over Canada’s TMX Group, parent of the Toronto and Montreal exchanges and the TSX ...

Wealth And Democracy Go Hand In Hand

MILESTONES / GLOBAL   by Laurence Neville   Renaissance’s Robertson: “China in risky period” China will become a democracy by 2017, while Russia is highly likely to become a strong democracy within the next few years, according to a remarkable ...

Corporate Finance

FX: Greek Contagion Risk On Euro

CORPORATE FINANCING NEWS / FOREIGN EXCHANGE by Gordon Platt The euro tumbled against the dollar, the yen and the Swiss franc in mid-June, as European finance ministers reached an impasse on a second Greek aid package and demonstrators clashed with ...

M&A: Cash-Rich Firms Drive M&A

CORPORATE FINANCING NEWS / MERGERS & ACQUISITIONS   Corporate Finance Focus   by Gordon Platt   Corporations worldwide are using their cash stockpiles to make acquisitions and are driving M&A; activity to a higher level that confirms the bullish trend ...

Newsmakers