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Cover Story

Corporate Social Responsibility

COVER STORY: CORE VALUES Companies at the cutting edge of corporate responsibility are weaving their citizenship efforts into the strategic heart of the business. By Dan Keeler In the decade or so since the phrase "corporate social responsibility" first began ...

Emerging Markets Roundup

Corporate Social Responsibility

COVER STORY: CORE VALUES Companies at the cutting edge of corporate responsibility are weaving their citizenship efforts into the strategic heart of the business. By Dan Keeler In the decade or so since the phrase "corporate social responsibility" first began ...

Private Equity Focuses On Emerging Opportunities

MILESTONES: EMERGING MARKETS Private Equity Focuses on Emerging Opportunities By Anita Hawser Thunell: Extolling the virtues of emerging markets While developed markets flounder in a post-crisis quagmire of sovereign debt, developing markets are enjoying much better times—and private equity investors ...

Mergers & Acquisitions

CORPORATE FINANCING NEWS — MERGERS & ACQUISITIONS CORPORATE FINANCE FOCUS CHINA AND INDIA'S COMPETITION FOR RESOURCES CAUSING RISE IN CROSS-BORDER ACQUISITIONS By Gordon Platt Mergers and acquisitions in emerging markets are heating up, and China and India are at the ...

Emerging and Frontier Markets

FACING UP TO THE CHALLENGE The fast-growing and dynamic economies of the emerging and frontier markets represent mouth-watering opportunities and daunting challenges for the world’s established multinationals. Only the best prepared will survive. By Amy E. Buttell Humbled by the ...

Emerging Markets Roundup: India

Roundup By Aaron Chaze Desperate: India needs to spend $1 trillion on infrastructure The Indian government is planning to establish an $11 billion infrastructure debt fund with the objective of investing in the power sector and in roads and ports. ...

Emerging Markets Roundup: Africa

Roundup By Antonio Guerrero South Africa’s central bank: Shareholders to get less control Nigeria has secured a $915 million concessionary loan from the World Bank to help the government fund infrastructure development projects. Funds will be drawn between 2010 and ...

Emerging Markets Roundup: Brazil

Roundup By Antonio Guerrero Hot property: Vale sells its aluminum business to Norsk Hydro In what is ranked as one of the largest acquisitions ever by a Norwegian company, Norway's Norsk Hydro aluminum producer signed a $4.9 billion deal to ...

Emerging Markets Roundup: China

Roundup By Thomas Clouse Expo frenzy: Shanghai expects 70 million visitors China's consumer prices rose by the greatest margin in 18 months in April, while property prices increased by the fastest rate since the country began publishing the data in ...

Emerging Markets Roundup: Russia

Roundup By Kim Iskyan Shuvalov: Russia is revising its plan to join WTO During a late April trip to Washington, DC, first deputy prime minister Igor Shuvalov said that Russia would abandon its plan to try to join the World ...

Emerging Markets: Bringing Brazilian Ethanol to Global Markets

Investor: Company to Watch Cosan/Brazil By Gordon Platt Cosan, one of Brazil's largest producers of sugar and ethanol, plans to form a $12 billion joint venture with Shell International Petroleum, a unit of Royal Dutch Shell. The São Paulo-based company ...

Emerging Markets: Emerging Market Bonds Have Unusual Appeal

Investor: News By Gordon Platt Emerging market debt has a unique attraction for investors seeking higher yields than are available on US treasuries but who lack the appetite for risk in volatile emerging market equities. Investors are pouring record amounts ...

Regional Report: West Africa

REGIONAL REPORT: REGIONAL RESURGENCE A flurry of bond issues illustrates the growing confidence west Africa’s nations have in their economic and political futures. Nigeria and Côte d’Ivoire are leading the way. By Nick Kochan The contrasts in west Africa are ...

Best Investment Banks

Awards: Best Investment Banks

ANNUAL SURVEY: BEST INVESTMENT BANKS Earnings from investment banking helped major financial institutions return to profitability, but the rules are changing. By Gordon Platt Major banks reported hefty gains in first-quarter 2010 profits, with a powerful assist in most cases ...

Best Investment Banks 2010: Best Legal Advisers

BEST LEGAL ADVISERS Global Skadden Skadden, or more formally Skadden, Arps, Slate, Meagher & Flom, was the number-one legal adviser on global mergers and acquisitions announced in 2009, according to Thomson Reuters. The firm advised on 173 M&A; deals valued ...

Best Investment Banks 2010: Country Winners

COUNTRY WINNERS North America Canada Scotia Capital Scotia Capital, the wholesale banking arm of Scotiabank, had a record year in 2009 for its equity platform. The bank participated in 211 equity deals, valued at $8.5 billion. In September 2009 Scotia ...

Best Investment Banks 2010: Deals of the Year

DEALS OF THE YEAR Equity Deal Lloyds Banking Group's $22.5 billion rights issue Lead underwriters: Bank of America Merrill Lynch, UBS Investment Bank, Citi, Goldman Sachs, HSBC and J.P. Morgan Cazenove In November 2009 UK-based Lloyds Banking Group's record $22.5 ...

Best Investment Banks 2010: Global Winners

GLOBAL WINNERS Investment Bank J.P. Morgan J.P. Morgan is the best current example of a success story on Wall Street. With its fortress balance sheet and careful management of risk, the bank grew and remained profitable throughout the financial crisis. ...

Best Investment Banks 2010: Regional Winners

REGIONAL WINNERS North America Investment Bank J.P. Morgan J.P. Morgan reported net revenue from investment banking of $8.3 billion in the first quarter of 2010. The bank not only led in debt and equity underwriting worldwide, as well as in ...

Best Investment Banks 2010: Sector Winners

SECTOR WINNERS Consumer Lazard Lazard was financial adviser on some of the biggest deals of 2009, including Kraft Foods' takeover of Cadbury, the British chocolate maker. This deal stands as a tribute to Bruce Wasserstein, the veteran dealmaker and chief ...

Milestones

Private Equity Focuses On Emerging Opportunities

MILESTONES: EMERGING MARKETS Private Equity Focuses on Emerging Opportunities By Anita Hawser Thunell: Extolling the virtues of emerging markets While developed markets flounder in a post-crisis quagmire of sovereign debt, developing markets are enjoying much better times—and private equity investors ...

Investment Floods Back To Latin America

MILESTONES: LATIN AMERICA Investment Floods Back To Latin America By Antonio Guerrero High and dry: Caribbean countries may miss out Following a hefty 42% yearon- year drop in FDI in Latin America last year, investors appear to be showing their ...

Responsible Corporations Gain Protection

MILESTONES: UNITED STATES Responsible Corporations Gain Protection By Denise Bedell Safekeeping: New law will protect companies’ ethical goals For companies that aim to always be socially and environmentally minded, achieving growth without giving up that goal can be difficult. But ...

Russia Taps Fixed-Income Market

MILESTONES: RUSSIA Russia Taps Global Markets For First Time in 12 Years By Kim Iskyan Moscow calling: Russia tests investor sentiment Russia tapped global fixed-income markets in late April in a highly anticipated issue divided into a $2 billion five-year ...

Corporate Finance

Corporate Debt

CORPORATE FINANCING NEWS — CORPORATE DEBT ISSUANCE EBBS IN VOLATILE MARKET By Gordon Platt Reverberations from the debt crisis in Greece rattled through the corporate debt market in early May, causing extremely volatile conditions that disrupted what had been a ...

Global Equities / DR

CORPORATE FINANCING NEWS — GLOBAL EQUITY/DRS IPOS PULLED FOLLOWING MARKET DECLINES By Gordon Platt A sharp drop in world equity markets triggered a host of cancellations and postponements of planned initial public offerings in early May. Many of the proposed ...

Mergers & Acquisitions

CORPORATE FINANCING NEWS — MERGERS & ACQUISITIONS CORPORATE FINANCE FOCUS CHINA AND INDIA'S COMPETITION FOR RESOURCES CAUSING RISE IN CROSS-BORDER ACQUISITIONS By Gordon Platt Mergers and acquisitions in emerging markets are heating up, and China and India are at the ...

Newsmakers

Montenegro Aims To Be The Next Mediterranean Tiger

NEWSMAKERS: MONTENEGRO Montenegro Aims To Be The Next Mediterranean Tiger By Justin Keay Luksic: Reforms should help attract investors Most small European countries are still suffering in the wake of the recent downturn, with foreign direct investment (FDI) and trade ...

Obama Administration Continues Export Drive

NEWSMAKERS: UNITED STATES Obama Administration Continues Export Drive By Denise Bedell Gregoire: Coordinating efforts on export promotion The Obama administration has set a goal of doubling US exports in the next five years and announced the development of the Export ...

Philippines Chooses Corruption Fighter For President

NEWSMAKERS: PHILIPPINES Philippines Chooses Corruption Fighter For President By Thomas Clouse Aquino: Promises to investigate previous election results Benigno Aquino III will become the next president of the Philippines, after his pledges to fight corruption and reduce the country's record ...

Private Equity Focuses On Emerging Opportunities

MILESTONES: EMERGING MARKETS Private Equity Focuses on Emerging Opportunities By Anita Hawser Thunell: Extolling the virtues of emerging markets While developed markets flounder in a post-crisis quagmire of sovereign debt, developing markets are enjoying much better times—and private equity investors ...

Rating Upgrade Vindicates Morales’s Policies

NEWSMAKERS: BOLIVIA Rating Upgrade Vindicates Morales’s Policies By Antonio Guerrero Morales: High hopes for Bolivia’s econom y While many international investors have grown to distrust Bolivian president Evo Morales, a socialist who nationalized the hydrocarbons sector and telephone company, it ...

Additional Stories

Country Report: Canada

CANADIAN CORPORATES BENEFIT FROM EARLY RECOVERY With the US recovery still on shaky ground, Canada has seen growth spike, debt markets open wide for Canadian corporates and strong interest from foreign investors in both traditional debt and infrastructure project finance. ...

E-Invoicing Finds Favor Again

TECHNOLOGY & TREASURY MANAGEMENT — E-INVOICING Companies are taking a second look at electronic invoicing as they begin to evaluate longer-term efficiency and cost reduction programs for the financial supply chain. By Denise Bedell With the treasury and cash management ...

Enabling Efficiency

ENABLE EFFICIENCY Welcome to the first Technology & Treasury Management Supplement Global Finance has published. We recognize that technology has always been a key enabler of treasury management, with treasury management workstations and enterprise resource planning (ERP) systems facilitating the ...

Enterprise Resource Planning Systems

TECHNOLOGY & TREASURY MANAGEMENT — TREASURY SOLUTIONS Treasury modules offered by enterprise resource planning systems providers are threatening full-suite treasury systems. By Denise Bedell As companies focus more on cost savings, there is an equilibrium that must be maintained between ...

Foreign Exchange

CORPORATE FINANCING NEWS — FOREIGN EXCHANGE GREEK DEBT CRISIS MORPHING INTO EURO PROBLEM By Gordon Platt The nearly $1 trillion plan to defuse Europe's debt crisis headed off speculation in credit default swaps, bank equities and bond spreads, but there ...

Foreign Exchange Trading

SPOTLIGHT: TRADING UP Technology is revolutionizing foreign exchange trading and providing ever-increasing opportunities in the world’s biggest financial market. By Anita Hawser Electronic trading has revolutionized markets. In the equities markets, algorithmic trading platforms, high-frequency trading and smart order routing ...

Market Forces

FOCUS: ISLAMIC FINANCE IN ASIA A centralized approach to Islamic finance is helping Asia develop an industry that may challenge the Middle East as the global hub. By Anita Hawser The Middle East is often thought of as the spiritual ...