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Cover Story

Cover Story : New Dawn

After more than a decade in the doldrums, Japan’s economy is set for a robust recovery. Cherry blossom time is always a festive time in Japan as salarymen and students alike gather to drink alfresco while admiring the beauty of ...

Features

Features : Awards Ceremony

Stars of the new Russia London’s Connaught Hotel was the setting in April for Global Finance’s third annual Best Russian Banks and Companies awards ceremony. The Bank of New York sponsored this year’s event. Soaring hydrocarbon prices and 7% GDP ...

Features : Banking In Brazil

Global Finance discusses the Brazilian banking industry with some of the leading players in the business. Jean Philippe Leroy is executive general manager at Banco Bradesco GLOBAL FINANCE: What has been the recent performance of the Brazilian banking system and ...

Features : Best Investment Banks

Annual Survey: Investment Banks Best investment banks The biggest wave of mergers and acquisitions since 2000 and record worldwide underwriting of securities are producing strong gains in revenue and earnings at the leading investment banks. The banks also are making ...

Features : Country Report: Germany

TURNING POINT A few months ago, reeling from an inconclusive general election, Germany was facing an uncertain future. Undaunted, the country’s new chancellor, Angela Merkel, tried to rally enthusiasm and optimism with her promise to “get Germany back on its ...

Features : Country Report: Kazakhstan

Eastern promise Kazakhstan’s abundant natural resources and stable political environment have made it a favorite among international investors. With a strong economy, a highly stable political environment and a history of sensible economic reforms and conservative fiscal policies, Kazakhstan is ...

Features : Derived Value

Corporate use of derivatives is becoming increasingly commonplace, but while they are easier than ever to use, the risks still remain. Last June the gross market value of outstanding over-the-counter derivatives soared to a whopping $10.7 trillion, as measured by ...

Features : Europe Banks On Brains Not Brawn

The European Union wants to create a region-wide knowledge-based economy. Realizing that vision is proving to be a major headache. Mehlbye: There is a “leveling” process going on within Europe In recent months as political and economic events have unfolded ...

Features : Europe Banks On Brains Not Brawn

The European Union wants to create a region-wide knowledge-based economy. Realizing that vision is proving to be a major headache. Mehlbye: There is a “leveling” process going on within Europe In recent months as political and economic events have unfolded ...

Features : The Benefits of Being Single

Banks and regulators are working together to cut the costs of cross-border payments in Europe. Since its inception, the European single currency has been fraught with economic and political problems, with some countries threatening to pull out of the euro ...

Award Winners

Features : Awards Ceremony

Stars of the new Russia London’s Connaught Hotel was the setting in April for Global Finance’s third annual Best Russian Banks and Companies awards ceremony. The Bank of New York sponsored this year’s event. Soaring hydrocarbon prices and 7% GDP ...

Emerging Markets Roundup

Features : Banking In Brazil

Global Finance discusses the Brazilian banking industry with some of the leading players in the business. Jean Philippe Leroy is executive general manager at Banco Bradesco GLOBAL FINANCE: What has been the recent performance of the Brazilian banking system and ...

Emerging Markets : Bank consolidation draws to a close

Brazil A surge in Brazilian banking M&As; may mark the end of a sector consolidation drive begun in 1994. Recent deals leave few major banks up for grabs, at a time when lower interest rates are boosting lending activity. Bank ...

Emerging Markets : Gazprom Upgrades Its Program

DR NEWS Gazprom, Russia’s state-controlled gas producer, passed Britain’s BP on April 26 to become the world’s second-biggest energy company by market value after ExxonMobil. It already was the world’s biggest natural gas company and Russia’s biggest company. Gazprom’s share ...

Emerging Markets : HSBC Says Em Debt In Virtuous Cycle

NEWS Interest rate increases in the developed countries won’t necessarily spell the end of good returns on emerging market debt, says Rashique Rahman, fixed-income strategist in global emerging markets at HSBC in New York. Favorable global market dynamics have set ...

Emerging Markets : Investors Gain New Flexibility

China China will allow domestically listed companies to issue new shares, ending a year-long ban on new-share sales and providing much-needed capital-raising mechanisms for Chinese companies. Companies that want to offer new shares must meet revenue and profitability requirements set ...

Emerging Markets : KKR Makes First Investment In India

Company to watch: Flextronics software/India Kohlberg Kravis Roberts, a leading private equity firm, is acquiring the software business of Flextronics International for about $900 million in India’s largest-ever leveraged buyout. Flextronics Software Systems, as the business is known, specializes in ...

Emerging Markets : New Chill Descends

Russia Butting heads:Cheney and Putin exchange harsh words Relations between Russia and the US plumbed new post-Cold War depths as US vice president Dick Cheney labeled Russia’s energy resources “tools of intimidation and blackmail” and knocked Moscow for backsliding on ...

The World's Best Investment Banks

Features : Best Investment Banks

Annual Survey: Investment Banks Best investment banks The biggest wave of mergers and acquisitions since 2000 and record worldwide underwriting of securities are producing strong gains in revenue and earnings at the leading investment banks. The banks also are making ...

Milestones

Milestones : Delayed decision highlights doubts about EU enlargement

EMERGING EUROPE/EU Stelzeneder: Difficult times ahead There will be difficult times ahead for southern European countries wanting to join the EU, according to Martin Stelzeneder, an analyst with RZB in Vienna. “The southeastern countries still have a lot of reforms ...

Milestones : Bolivia Gets Brazil Over A Barrel

BRAZIL/BOLIVIA Morales: Driving a hard bargain Hours after Bolivian president Evo Morales moved to nationalize his country’s gas and oil fields, Brazil’s state-owned Petrobras oil company suspended its Bolivian investment program and blocked funds to expand a gas pipeline between ...

Milestones : Housing slowdown could tip economy into recession

Housing slowdown could tip economy into recession about EU enlargement UNITED STATES Over? The US building boom is faltering The roof hasn’t caved in yet on the US housing market, but home prices are slipping, and inventories of unsold homes ...

Corporate Finance

Corporate Finance : Bank of China’s ipo attracts big demand

State-controlled Bank of China, the country’s second-largest lender, plans to list its shares in Hong Kong on June 1 in what is expected to be the largest initial public offering ever by a Chinese company. If the bank exercises its ...

Corporate Finance : European Companies Merge at Record Pace

Europe’s utilities, phone companies and banks are increasingly finding themselves to be the targets of takeovers, with mergers and acquisitions in the region running at a record pace and surpassing the level in the United States so far this year. ...

Corporate Finance : Us treasury needs China to buy bonds

The US Treasury let China off the hook on a technicality last month, saying it didn’t meet the definition of a currency manipulator. While howls of protest were heard from Congress, the executive branch signaled that it wanted no part ...

Newsmakers

Newsmakers : Bernanke May Be Tightening Too Far

United States Bernanke:Reactive Federal Reserve chairman Ben Bernanke has been a Flong-term promoter of inflation targeting,advocating an increase of 1% to 2% in the core inflation rate as an ideal range.The overall rate of consumer price inflation increased to 3.5% ...

Newsmakers : Dark Horse Becomes New Frontrunner

Mexico Dark horse:Felipe Calderón Just a year ago, former Mexico City mayor Andrés Manuel López Obrador of the Jopposition PRD party, and a center-left populist, held a firm lead in Mexico’s presidential race. Recent polls, however, show ruling PAN party ...

Newsmakers : Government Blamed For Impact Of Rising Energy Prices

United Kingdom Whiteside: “Government failed to encourage energy economy” As oil and energy prices continue to soar, sparking concerns on the world’s stock markets about rising inflation, energy experts in the UK are pointing the finger at the government for ...

Newsmakers : HSBC’ s Studzinski Jumps Ship To Blackstone Group

United States/United Kingdom Studzinski: Going private John Studzinski,Jwho has toiled for the past three years to turn Britain’s HSBC into a major investment bank, will join leading private investment and advisory firm the Blackstone Group this fall. "The opportunity to ...