Cover Story

Blowing Up

COVER STORY: EMERGING MARKETS INFLATION

By Laurence Neville

Emerging markets have been credited with saving the world’s economy from catastrophe with their resilient exports. Now they’re exporting a different product that threatens to stop the global recovery in ...

Special Section

Islamic Bank Awards 2011

ANNUAL SURVEY: ISLAMIC FINANCE

By Gordon Platt

The Islamic finance industry is benefiting from a lack of confidence in the conventional banking sector and is expanding rapidly in emerging markets.

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The global financial crisis has forced bankers and regulators to ...

Newsmakers

Martelly Counts On Foreign Investment To Rebuild

NEWSMAKERS: HAITI

By Antonio Guerrero

Haiti’s president Michel Martelly, who took office on May 14, has the unenviable task of rebuilding Haiti after the January 2010 earthquake that killed nearly 300,000 and left some one million people homeless ...

Signs Of Change After ‘Watershed’ Election

NEWSMAKERS: SINGAPORE

By Thomas Clouse

Singapore’s founding father Lee Kuan Yew resigned his cabinet post on May 14 after his party, the People’s Action Party (PAP), garnered just over 60% of the popular vote, its weakest showing since ...

Strauss-Kahn Arrest Adds Drama To IMF Succession

NEWSMAKERS: GLOBAL

By Luca Ventura

While the shocking arrest in May of IMF managing director Dominique Strauss-Kahn in connection with an alleged sexual assault dominated the news all over the world, it only complicated a plot that was already more ...

Voice Of Moderation Leaves FDIC

NEWSMAKERS: UNITED STATES

By Gordon Platt

Sheila Bair, the populist bank regulator who warned in advance that the subprime mortgage crisis was coming, is stepping down on July 8 as chairman of the Federal Deposit Insurance Corporation.

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Sheila Bair’s ...

Milestones

Europe Aims To Simplify Securities Clearing Systems

MILESTONES: EUROPE

By Anita Hawser

How many central securities depositories (CSDs) does Europe need? The European Commission and the European Central Bank believe it is far fewer than the 40 CSDs currently scattered across the continent.

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The EC: Yet to ...

Multilatinas Extend Reach Into Developed Markets

MILESTONES: LATIN AMERICA

By Antonio Guerrero

While Latin America led the world in FDI growth last year, the region’s companies also forged ahead with an aggressive international expansion drive.

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Drive thru: Latin America buys up US brand names

According ...

Thailand Braced For More Political Turmoil

MILESTONES : THAILAND

By Thomas Clouse

The people of Thailand will soon go to the polls following a royal decree last month dissolving the lower house of parliament and calling for elections on July 3.

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Thai PM Abhisit Vejjajiva: Election should ...

US Finance Industry Assess Galleon Ruling

MILESTONES: UNITED STATES


By Anita Hawser

It may have taken only 12 days of deliberations for the jury in the Galleon trial to convict Raj Rajaratnam, the co-founder of Galleon Group, of 14 counts of securities fraud, but the repercussions ...

Corporate Finance

Debt: High-Yield Market Calm Amid Storm

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

High-yield bonds remained remarkably stable during the sell-off in global equity markets and the increase in global market volatility last month, but future gains in the prices of these below-investment-grade securities could ...

DRs: Sovereign Funds Boost Glencore

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

Switzerland-based Glencore International, a commodities trading and mining company, could have timed its initial public offering better.

Amid the steepest decline in commodity markets in years, Glencore was looking last month ...

FX: Big Overseas Investments For China

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

China is planning major investments in foreign companies, including those in the US, in order to help turn its mountain of paper dollars and other currencies into hard assets and to obtain ...

M&A: Tech Mergers Show ‘Smart’ Increase

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

An expanding global economy with a healthy appetite for smart technology and mobile devices is spawning a wave of mergers and acquisitions in the technology sector.

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Microsoft’s $8.5 billion acquisition ...

Emerging Markets Roundup

Blowing Up

COVER STORY: EMERGING MARKETS INFLATION

By Laurence Neville

Emerging markets have been credited with saving the world’s economy from catastrophe with their resilient exports. Now they’re exporting a different product that threatens to stop the global recovery in ...

Commodities And Inflation

Commodity prices seem to increasingly influence the world economy—both on the producer and consumer side—and the financial markets...

Islamic Bank Awards 2011

ANNUAL SURVEY: ISLAMIC FINANCE

By Gordon Platt

The Islamic finance industry is benefiting from a lack of confidence in the conventional banking sector and is expanding rapidly in emerging markets.

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The global financial crisis has forced bankers and regulators to ...

DRs: Sovereign Funds Boost Glencore

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

Switzerland-based Glencore International, a commodities trading and mining company, could have timed its initial public offering better.

Amid the steepest decline in commodity markets in years, Glencore was looking last month ...

FX: Big Overseas Investments For China

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

China is planning major investments in foreign companies, including those in the US, in order to help turn its mountain of paper dollars and other currencies into hard assets and to obtain ...

An Oasis Of Calm

COUNTRY REPORT: KUWAIT

By Gordon Platt

Kuwait has been largely unaffected by the winds of change sweeping through the Middle East and North Africa.


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In the 50 years since Britain ended its protectorate and Kuwait became an independent emirate, this ...

DR News: Networking Craze Pays Off For China’s Facebook Clone

EMERGING MARKETS INVESTOR: DR NEWS

By Gordon Platt

China-based Renren, a copycat of Facebook, became the first social networking site anywhere to be listed on an exchange, with a solid debut on the New York Stock Exchange last month.

The ...

Early Days

COUNTRY REPORT: EGYPT

By Justin Keay

Egypt is still in the very early stages of transition, but if it can establish political stability, its economy should grow strongly over the coming years.

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If confidence really is the key to growth ...

EM News: Indonesia Draws Nearer To Investment Grade

EMERGING MARKETS INVESTOR: NEWS

By Gordon Platt

Indonesia’s stock market was expected to take a breather this year, after being one of the star performers of 2010, with an advance of 46%.

Instead, the benchmark Jakarta Composite Index was ...

Emerging Markets Roundup: Africa

INVESTORS FALL FOR AFRICA’S CHARMS

By Antonio Guerrero

Foreign direct investment into Africa will reach $150 billion a year by 2015, according to a May report by global accounting firm Ernst & Young.

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Africa’s consumer goods boom to attract ...

Emerging Markets Roundup: Brazil

SPENDING BOOST PLANNED TO LIFT OIL OUTPUT

By Antonio Guerrero

Brazil’s Petrobras state-controlled oil company plans to more than double its investments to develop the country’s pre-salt offshore oil fields through 2015.

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Petrobras to accelerate output from pre-salt ...

Emerging Markets Roundup: China

TRADE SURPLUS GROWS SHARPLY

By Thomas Clouse

China’s trade surplus jumped to $11.4 billion in April, after the country posted its first quarterly deficit in seven years in the first three months of the year.

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China moves to ...

Emerging Markets Roundup: India

INDIA SHORTLISTS EUROPEAN FIGHTERS FOR $11 BILLION CONTRACT

By Aaron Chaze

After a fiercely contested bidding process, which involved President Obama’s pitching in on behalf of US aerospace firms, the Indian government has announced the finalists in the competition ...

Emerging Markets Roundup: Middle East

SAUDI ARABIA REOPENS IPO MARKET WITH TELECOM ISSUE

By Gordon Platt

The first initial public offering of the year in Saudi Arabia, home of the Arab world’s largest stock market, attracted more than 638,000 subscribers, more than 92 ...

Emerging Markets Roundup: Russia

POPULIST MOVES SUGGEST PUTIN IS SETTING SIGHTS ON PRESIDENCY

By Kim Iskyan

Following gasoline shortages in late April in a number of regions, prime minister Vladimir Putin announced a sharp hike in export taxes on motor fuel as a precursor ...

Islamic Bank Awards 2011: Overall Awards

Overall Awards

Best Sukuk Bank

CIMB Islamic

Malaysia-based CIMB Islamic has been the top sukuk underwriter for each of the past four years. In 2010 it boosted its leading global market share to 23%, largely on the strength of Malaysian ...

Additional Stories

Infosys Strategic Vision

SQUEEZING THE VALUE OUT OF YOUR DATA

By Ashok Vemuri, Member of the Executive Council (EC), Head of Americas and Global Head, Financial Services, Infosys Limited

The other day, I was reading an article in a technology journal that offered ...

Sponsored Statement Citi

WHAT’S NEXT IN THE WORLD OF E-BILLS AND E-PAYMENTS?

By Adam Hoffman

Since the very first electronic payment was transmitted through the ether world more than 30 years ago, businesses have been steadily shrinking the stacks of paper that ...

Sponsored Statement Deutsche Bank

NEXT GENERATION TREASURY FOR CORPORATE AMERICA

Deutsche Bank

Shahrokh Moinian, Deutsche Bank’s Head of Trade Finance and Cash Management Corporates for the Americas, discusses the latest treasury management trends in the region.

What are the key corporate cash management ...

Technology And Treasury Management

A TREASURER’S BEST FRIEND

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With cash visibility and control more important than ever, and with risk management becoming an increasing part of the corporate treasurer’s job, technology is playing an ever more pivotal role. As its sophistication grows ...

Technology And Treasury Management: Managing FX Exposure

EXPOSING FOREIGN EXCHANGE RISK By Denise Bedell Companies with international operations are looking beyond spreadsheets to get a timelier view of their global FX exposures. Within a few hours of Osama bin Laden’s being killed, global markets had responded. The ...

Technology And Treasury Management: Mobile Banking

THE NEXT FRONTIER

By Anita Hawser

Take-up of mobile banking services is accelerating as services—and the devices they run on—become ever more sophisticated.

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At an annual gathering of the world’s largest corporate and investment banks held in ...

Technology And Treasury Management: Working Capital Management

THE WORKING CAPITAL TRANSFORMATION By Denise Bedell Companies are looking to technology to help them delve deeper into their working capital processes. The debate that has long raged over whether enterprise resource planning (ERP) systems can compare on a function-by-function ...

Asia’s Banks On The Fast Track

FOCUS: INVESTMENT BANKING IN ASIA

By Michael Shari

Asia’s big banks are elbowing out their Western rivals as demand for financial services skyrockets in the region—and beyond.

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One of the great ironies lost in the panic of the ...

Company To Watch: Cencosud/Chile

LATIN AMERICAN RETAILER PLANS $2 BILLION SHOPPING SPREE

By Gordon Platt

Santiago, Chile–based Cencosud, the largest retailer in Chile by sales and the third biggest in Latin America, plans to issue up to $2 billion of new shares in ...

Fast Favorites

SPOTLIGHT: FOREIGN EXCHANGE TRADING

By Anita Hawser

Technology is enabling faster and more-flexible trading in foreign exchange—and helping drive the rapid rise in daily trading volume.

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Erik Lehtis, president of Chicago-based Dynamic FX Consulting, has experienced firsthand how electronic ...

Islamic Bank Awards 2011: By Country

Country Awards

Algeria

Al Salam Bank-Algeria

Al Salam Bank-Algeria was established in October 2008 with capital of $100 million. New rules on Islamic banking in Algeria became effective in January 2011 and are expected to promote the growth of the ...

Islamic Bank Awards 2011: By Region

Regional Awards

Gulf Cooperation Council (GCC)

Kuwait Finance House

Kuwait Finance House was the first Islamic bank established in Kuwait. It is now a market leader in the GCC and beyond, offering a wide range of shariah-compliant products. KFH has ...