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Cover Story

Cover Story: Global Elections 2012

ELECTION YEAR

By Laurence Neville

Numerous countries around the world are holding elections this year, which could create market uncertainty and hold back much-needed political decision-making—particularly in Europe.

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Unlike 2011, which was a year of "unknown unknowns," with largely ...

Emerging Markets Roundup

Cover Story: Global Elections 2012

ELECTION YEAR

By Laurence Neville

Numerous countries around the world are holding elections this year, which could create market uncertainty and hold back much-needed political decision-making—particularly in Europe.

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Unlike 2011, which was a year of "unknown unknowns," with largely ...

Country Report: Angola

LAND OF OPPORTUNITIES

By Dan Keeler

The improving economic and investment environment makes Angola a tempting target for foreign direct investors. But changes aimed at improving the business environment and building infrastructure must move forward before the country reaches its ...

Country Report: Morocco

TURNING POINT

By Michael Shari

One of Africa's most vibrant economies is in the midst of a high-stakes political transition that will determine whether it continues on a path of reform or contends with the type of backlash that ...

DR News: Bancolombia Sells Follow-On ADRs

EMERGING MARKETS INVESTOR: DR NEWS

By Gordon Platt

Bancolombia sold $267 million in ADRs in January in a follow-on offering to its domestic sale of $614 million in preferred shares. The bank said proceeds would go to lending and financing ...

EM News: Equity Funds Attract Big Inflows

EMERGING MARKETS INVESTOR: NEWS

By Gordon Platt

Investors dumped money market funds in January and shifted into higher-yielding equity funds, according to EPFR Global.

"The emerging-markets equity funds we track have had their best start in six years," says Brad ...

Emerging Markets Roundup: Africa

SA-SWAZILAND RAILWAY LINK (FINALLY) GETS THE GREEN LIGHT

By Antonio Guerrero

Transnet, South Africa's state-owned transit and logistics company, and Swaziland Railway have joined forces to complete a $2.2 billion railway linking their two countries, a plan under ...

Emerging Markets Roundup: Brazil

E.ON AND MPX ENERGIA PARTNER ON POWER PLANTS


By Antonio Guerrero

E.ON, the German power utility, is partnering with MPX Energia, a power company controlled by Brazilian billionaire Eike Batista, to launch a joint venture to build Brazil ...

Emerging Markets Roundup: China

SHANGHAI TO EXPAND ITS POSITION AS A FINANCE HUB


By Thomas Clouse

China will greatly expand financial activity in Shanghai in coming years, according to a plan released on January 30 by the National Development and Reform Committee.

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The plan ...

Emerging Markets Roundup: India

CHINESE BANKS TO REFINANCE INDIAN CORPORATE LOANS

By Aaron Chaze

Three major Chinese banks were central to one of India's largest-ever corporate refinancings of foreign currency debt.

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Reliance Communications, India's second-largest cellular operator, controlled by billionaire Anil Ambani ...

Emerging Markets Roundup: Middle East

SAUDI ARABIAN BOURSE ALLOWS FOREIGN CROSS-LISTINGS

By Gordon Platt

The Saudi Arabian stock exchange, known as the Tadawul, has taken a major step toward becoming a regional exchange.

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Islamic bloc wins control in Kuwaiti parliament

The Capital Market Authority (CMA ...

Emerging Markets Roundup: Russia

GROWING POLITICAL UNCERTAINTY HITS RATINGS OUTLOOK

By Kim Iskyan

In mid-January, ratings agency Fitch cut its outlook on Russia from positive to stable, citing increased domestic political uncertainty and potential damage to the Russian economy from deterioration in the global ...

Middle East Investment Banking

CLOUDY OUTLOOK

By Gordon Platt

The global economic slowdown and regional political turmoil are casting a pall over investment banking in the Middle East. As there's no change in sight, bankers in the region may be in for another ...

Global Salon

Salon: James Rickards, Policy Weakness

SEEKING OUT VULNERABILITIES

By Vanessa Drucker

Global Finance sat down with James Rickards, senior managing partner at boutique alternative investment firm Tangent Capital Partners and author of Currency Wars: The Making Of The Next Global Crisis .

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PHOTO: LUCA VENTURA

Global ...

Milestones

Bangladesh Angles For Foreign Investment

MILESTONES: BANGLADESH

By Udayan Gupta

Bangladesh is one of the more intriguing frontier market economies for foreign investors. In 2011 its GDP rose an estimated 6.3%. But a volatile political environment and an economy that is not immune to ...

US Foreign Investor Visas Get New Lease On Life

MILESTONES: UNITED STATES

By Valentina Pasquali

Struggling with a sagging real estate market and a weak economic recovery, the US has been revamping its efforts to attract foreign investors. For example, the current administration is pumping new life into the ...

Corporate Finance

Debt: Low Rates, Economy Boost Issuance

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Easing monetary conditions and economic stabilization have increased demand for higher-risk assets, despite worries about Europe's debt.

The Federal Reserve has pledged that the federal funds rate will remain exceptionally low ...

DRs: Awaiting Facebook, IPOs Revive

CORPORATE FINANCING NEWS: GLOBAL EQUITY / DRS


By Gordon Platt

The US market for initial public offerings is off to a strong start in 2012, with anticipation building ahead of the expected $5 billion Facebook IPO, which will be the biggest ...

FX: Sudden Currency Moves And Hedging

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

The euro's surprising rise early this year, even as the European Central Bank flooded the market with liquidity, caught many market participants by surprise.

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Net short positions in the euro hit ...

M&A: Xstrata Investors Balk At Merger

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Mining company Xstrata's merger with commodities dealer Glencore may not go ahead unless the terms are improved for shareholders. The $90 billion deal, billed as a "merger of equals," is expected ...

Newsmakers

CEO Ghizzoni Boosts UniCredit With Daring Capital Raising

NEWSMAKERS: ITALY

By Laurence Neville

While many big wigs in the world of finance hit the World Economic Forum in Davos, Switzerland in late January to rub shoulders with glamorous attendees from business, politics and showbiz—this year led by ...

Facebook COO Sandberg Offers A Seasoned Hand In IPO

NEWSMAKERS: UNITED STATES

By Valentina Pasquali

When social-networking giant Facebook filed with the US Securities and Exchange Commission in February to raise $5 billion in one of the most anticipated initial public offerings of recent times, the talk of the ...

Foster Becomes CEO At Petrobras

NEWSMAKERS: BRAZIL

By Antonio Guerrero

Graças Foster, 58, was appointed CEO of Brazil's Petrobras state-controlled oil company in February, becoming the first woman ever to head one of the world's top oil operations.

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Foster was nominated by president ...

Ma Wins A Second Term In Tight Taiwanese Presidential Race

NEWSMAKERS: TAIWAN

By Thomas Clouse

Ma Ying-jeou will serve a second term as president of Taiwan after winning 51.6% of the vote in the January election, defeating his closest competitor, Tsai Ing-wen, by less than six percentage points.

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Ma ...

The World's Best Treasury & Cash Management Providers

Best Banks For Cash Management

By Anita Hawser

BEST BANK FOR CASH MANAGEMENT—GLOBAL WINNER

Citi

Citi has a strong track record of managing complex global mandates, which plays to its strengths and presence across hundreds of countries and currencies. It boasts an impressive client ...

Treasury & Cash Management Awards 2012

ANNUAL SURVEY: DIGGING DEEPER

By Anita Hawser

Companies want ever-more-detailed information to better manage cash and liquidity. Those banks that are investing in best-in-class risk and liquidity management solutions are winning corporate clients.

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Last year was a difficult one for ...

Additional Stories

Best Banks For Liquidity Management

By Anita Hawser

BEST BANK FOR LIQUIDITY MANAGEMENT

NORTH AMERICA

Bank of America Merrill Lynch

The large global cash management banks have invested heavily in their liquidity management capabilities, particularly when it comes to helping companies gain a consolidated global ...

Best Banks For Payments And Collections

By Anita Hawser

BEST BANK FOR PAYMENTS AND COLLECTIONS

NORTH AMERICA

Wells Fargo
As a leading Automated Clearing House originator and receiver, Wells Fargo has played an integral role in helping companies make the move from paper-based payments to ACH ...

Best Banks For Risk Management

By Anita Hawser

BEST BANK FOR RISK MANAGEMENT

NORTH AMERICA

Bank of America Merrill Lynch
As a principal bank for large corporates in the US, Bank of America Merrill Lynch tries to take a holistic rather than product-focused approach to ...

Best Providers Of Money Market Funds

By Anita Hawser

BEST PROVIDER OF MONEY MARKET FUNDS

NORTH AMERICA

J.P. Morgan Asset Management

In the current economic climate where investors are more cognizant of counterparty risk, highly rated money market funds with sizable assets under management and ...

Best Treasury Management Systems & Services

By Anita Hawser

BEST TREASURY MANAGEMENT SYSTEMS & SERVICES

BEST ACCOUNTS PAYABLE SERVICES

Bottomline Technologies
Bottomline provides a range of payment, e-invoicing and document management solutions for a wide range of companies. File upload, invoice creation via Web entry and scanning ...

Best White-Label System Provider

By Anita Hawser

BEST WHITE-LABEL SYSTEM PROVIDER

BNY Mellon Enterprise Treasury Services

A consistent winner in this category, BNY Mellon is one of the few banks with a business dedicated solely to providing other financial institutions with white-label solutions, which ...

Company To Watch: Zambeef Products / Zambia

EXPANDING PRODUCT LINES AT ZAMBEEF

By Gordon Platt

Zambeef Products of Zambia is one of the largest agribusinesses in Africa, with more than 4,000 employees. In June 2011, it became the first Zambian company to list on the London ...

Country Report: UK Business And Finance

PLUGGING THE HOLE

By Vanessa Drucker

Although rival political parties in the UK agree on the need for austerity, debate rages on over the timeline and severity.

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There is little controversy among politicians or economists in the UK about the ...

Insuring Directors & Officers Liability

SAFE LANDING

By Paula Green

With new regulations and tighter enforcement that could lead to more corporate legal action, many companies are increasing their cover for directors and officers insurance.

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Most corporate risk officers should still enjoy favorable terms this ...

Regional Focus: Latin America

FOR BETTER OR FOR WORSE

By Antonio Guerrero

While neither Brazil nor Uruguay have any trade pacts aside from Mercosur, Chile and Mexico have many agreements in place. The two strategies have met with varying success.

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When the US approved ...

Special Report: Intellectual Property

CASHING IN ON IP

By Udayan Gupta

Intellectual property, once an arcane and confusing area of law, is now a hot asset class for corporates worldwide. But companies are finding it challenging to value and monetize their IP assets.

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Corporations ...