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Emerging Markets Roundup

Equity: BRICs To Lead DRs In 2013

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS By Gordon Platt Companies based in emerging markets will continue to rely on depositary receipts as an important means of financing their growth in 2013, taking advantage of continued global investor interest in the fast-growing ...

Country Report: Angola

UP AND RUNNING By Dan Keeler Having regained its footing in the wake of the financial crisis, Angola is now looking to erect a fairer, more balanced economy. As it continues to rebuild its economy and society in the wake ...

Emerging Markets Roundup: Africa

CHEVRON BOOSTS ITS INVEST-MENT IN AFRICAN BLACK GOLD By Antonio Guerrero Global oil group Chevron approved a $5.6 billion development project in Angola. The Mafumeira Sul offshore oil field will be its second-largest African investment, after the Agbami field in ...

Emerging Markets Roundup: Brazil

BANKS PITCH IN TO HELP BOOST ECONOMIC GROWTH By Antonio Guerrero Brazilian private-sector banks pledge to increase lending this year, according to Finance minister Guido Mantega. Following a meeting with bankers in February, the minister said banks plan to increase ...

Emerging Markets Roundup: China

WAGE GAP CLOSES AS GOVERNMENT EMBARKS ON SOCIAL REFORMS By Thomas Clouse China announced plans last month to reduce its wealth distribution gap through a series of measures—such as raising minimum wages, loosening lending and deposit rates and increasing spending ...

Emerging Markets Roundup: Middle East

DUBAI SEEKS ROLE AS CAPITAL OF ISLAMIC ECONOMY By Gordon Platt Dubai plans to become the capital of the Islamic economy by setting global standards. In addition to promoting Islamic finance and insurance, the emirate wants to arbitrate Islamic contracts ...

Emerging Markets Roundup: Russia

GAZPROM DOUBLES PROFITS AS IT PREPARES FOR “EFFICIENCY” AUDIT By Kim Iskyan Gas giant Gazprom reported that net profit doubled in the third quarter of 2012, thanks to forex gains. The results came just days after the government announced that ...

Middle East Investment Banking

SIGNS OF RESILIENCE By Gordon Platt In spite of poor global economic and investment conditions, Middle Eastern investment banking looks set for another solid year in 2013. The outlook for investment banking in the volatile Middle East region is surprisingly ...

Global Salon

Global Salon: Karen Elliott House

CONFLUENCE OF RISK By Vanessa Drucker In this month’s Salon, Global Finance sat down with Karen Elliott House, Pulitzer Prize–winning journalist, Wall Street Journal and Dow Jones & Co vet and author of On Saudi Arabia: Its People, Past, Religion, ...

The World's Best Treasury & Cash Management Providers

Best Treasury and Cash Management Providers 2013: Global Winners

GLOBAL WINNERS By Anita Hawser and Rebecca Brace BEST TREASURY & CASH MANAGEMENT PROVIDERS 2013: GLOBAL WINNERS Best Overall Bank for Cash Management Citi Best White Label System Provider BNY Mellon BEST OVERALL BANK FOR CASH MANAGEMENT Citi Citi provides ...

Best Treasury and Cash Management Providers 2013: Regional Winners

REGIONAL WINNERS By Anita Hawser and Rebecca Brace BEST TREASURY & CASH MANAGEMENT PROVIDERS 2013: REGIONAL WINNERS Best Overall Bank for Cash Management North America Bank of America Merrill Lynch Latin America Citi Western Europe Deutsche Bank Nordic Region SEB ...

Best Treasury and Cash Management Providers 2013: System And Services Winners

SYSTEMS AND SERVICES PROVIDERS By Anita Hawser and Rebecca Brace BEST TREASURY MANAGEMENT SYSTEMS AND SERVICES PROVIDERS Accounts Payable Services BNY Mellon SourceNet Accounts Receivable Services SunGard AvantGard Receivables Electronic Invoice Presentment and Payment Services Basware Payroll Services ADP Corporate ...

Milestones

Milestone: Moscow’S Stock Exchange Goes Public

MILESTONE:RUSSIA By Udayan Gupta The Russians are taking a page out of the Dutch East India Company’s playbook of 1602. In mid-February Russia recapitalized the Moscow Stock Exchange by selling $1 billion of shares in an IPO of the exchange—giving ...

Milestone: Spain Cuts Red Tape In An Effort To Help Businesses

MILESTONE: SPAIN By Forrest Jones Spain wants to make life a little easier for its business sector. Recently, Madrid drafted legislation to make it simpler for companies to conduct business in different autonomous regions within the country by streamlining local ...

Corporate Finance

Debt: Distressed Corp Deals Decline

CORPORATE FINANCING NEWS: CORPORATE DEBT By Gordon Platt Distressed debt and bankruptcy restructurings completed in 2012 more than doubled from 2011 to $423 billion, according to Thomson Reuters. Excluding Greece’s record $263 billion debt-exchange transaction, however, produces a very different ...

Equity: BRICs To Lead DRs In 2013

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS By Gordon Platt Companies based in emerging markets will continue to rely on depositary receipts as an important means of financing their growth in 2013, taking advantage of continued global investor interest in the fast-growing ...

FX: Economic Woes To Constrain Euro

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE By Gordon Platt The euro was the star of the major currencies in January, as it soared to a 14-month high against the dollar and a 33-month high against the Japanese yen. Its strength reflects ...

M&A: Energy, Resources Deals Heat Up

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS By Gordon Platt Pipeline deals, shale-energy plays and natural resources transactions—often involving Asian buyers—provided an energetic start to mergers and acquisitions in 2013. The overall January deal totals for the Americas and Europe surpassed ...

Newsmakers

Newsmaker: Heins Aims To Resurrect Moribund BlackBerry

NEWSMAKER: CANADA By Gilly Wright Not one to do anything by halves, BlackBerry’s CEO, Thorsten Heins, has overseen the launch of a new operating system called BlackBerry 10 and its first non-keyboard smartphone, the Z10. Heins hopes to shape the ...

Newsmaker: Speculation Is Rife About Fischer’s Next Move

NEWSMAKER: ISRAEL By David Lipkin Stanley Fischer is set to retire as governor of the Bank of Israel at the end of June. Fischer, guardian of Israel’s economy, bows out gracefully He will be remembered as one of the most ...

Newsmaker: Turkey’s PM Gives EU Ultimatum Over Membership

NEWSMAKER: TURKEY By Valentina Pasquali Conveying the feelings of a large swath of the Turkish population, which is increasingly tired of the stalled accession negotiations with the European Union, prime minister Recep Tayyip Erdoğan recently threatened to abandon the talks ...

Newsmaker: White’s SEC Appointment Sends Mixed Message

NEWSMAKER: US By Valentina Pasquali Though still bearing the scars of the recent financial crisis, the US economy is recovering, and markets are returning to levels unseen in years. White is reputed to be a tough enforcer Photo Credits: LARRY ...

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Additional Stories

Country Report: Lebanon

DRAGGING A GEOPOLITICAL ANCHOR By Justin Keay There were few bright spots for Lebanon over the past year. However, the banking and real estate sectors showed encouraging signs, and a recovery has begun. Despite their traditional stoicism, for most Lebanese ...

Frontier Markets Report: Bangladesh

PRIME PROSPECT By Dan Keeler Companies that ignore Bangladesh may be missing a key investment opportunity. Photo Credits: FRITZ16 / Shutterstock.com Often portrayed in the media as a basket case that lurches from one natural disaster to another, Bangladesh is ...

Regional Report: Latin America

VIVID LANDSCAPE IN FOREST PRODUCTS By Antonio Guerrero Despite currency volatility and slowing demand from China and Europe, Brazil, Chile and other key Latin American markets continue to churn out wood pulp for export, and the sector is seeing increased ...

Risk Management: Executive Liability

MOUNTING PERILS By Al Modugno Global executive risks are mushrooming in the midst of charges around Libor rate fixing and an explosion of M&A legal suits. The Libor scandal involving rate-rigging has triggered widespread investigations of major banks. But it ...