Magazine Cover

Cover Story

Cover Story : Trying Times

THE WORLD BANK

The World Bank’s struggle to redefine its role in a globalized economy has raised a fundamental question: Do we really need a World Bank?


cover_story_01 No sooner had the dust settled after the controversial departure of the ...

Features

Features : Aiming To Please

COUNTRY REPORT / PHILIPPINES


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Schleimer: The Clean Air Act could be used to regulate greenhouse gases

With the May general election safely behind it, the Philippine government hopes to use the next three years of relative political quietude to move ahead ...

Features : Balancing Act

COUNTRY REPORT / BRAZIL


Buffeted by the shockwaves from the US subprime mortgage crisis, Brazil has to steer a steady course if it is to keep its economic development on track.

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Buffeted by the shockwaves from the US subprime mortgage crisis ...

Features : Central Banker Report Cards 2007

ANNUAL SURVEY / CENTRAL BANKER REPORT CARDS

features_h00 Individually, many of the world’s leading central bankers seemed to be in disarray after the subprime debacle began to unfold in mid-2007. As a group, though, they acted with remarkably unity. The central ...

Features : Collateral Damage

FOCUS / TERRORISM FUNDING

Legislation aimed at cracking down on funding for terrorists is having some damaging side effects for banks and businesses.

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Kochan: It may be a fallacy that banks can anticipate terrorist financing.

Following the attacks of September 11 ...

Features : In For The Long Haul

ANALYSIS / INFRASTRUCTURE FUNDING

Many Asian countries desperately need to upgrade their infrastructure while cash-rich private equity funds are scouring the region for long-term investments. Is this a match made in heaven?


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Nag: We can only meet a small fraction of ...

Features : Seeking Out Growth

REGIONAL REPORT / NORDIC BANKING As Nordic banks look further outside their home markets for growth, the rewards—and also the risks—are increasing. Over the past few years, banks in the Nordic region have benefited from highly favorable economic conditions across ...

Features : The World’s Safest Banks 2007


ANNUAL SURVEY/ WORLD’S SAFEST BANKS


Global Finance selects the world’s safest banks, the 50 institutions with the highest ratings from the leading international credit ratings agencies.

features_g01 Images of customers queuing to withdraw their savings from Britain’s Northern ...

Features : World’s Best Banks

ANNUAL SURVEY / WORLD’S BEST BANKS

features_f01 At a time when the world economic outlook is more uncertain than it has been in years, the banking industry finds itself at the vortex of a financial market storm that originated in subprime ...

The World's Best Banks

Features : Central Banker Report Cards 2007

ANNUAL SURVEY / CENTRAL BANKER REPORT CARDS

features_h00 Individually, many of the world’s leading central bankers seemed to be in disarray after the subprime debacle began to unfold in mid-2007. As a group, though, they acted with remarkably unity. The central ...

Features : The World’s Safest Banks 2007


ANNUAL SURVEY/ WORLD’S SAFEST BANKS


Global Finance selects the world’s safest banks, the 50 institutions with the highest ratings from the leading international credit ratings agencies.

features_g01 Images of customers queuing to withdraw their savings from Britain’s Northern ...

Features : World’s Best Banks

ANNUAL SURVEY / WORLD’S BEST BANKS

features_f01 At a time when the world economic outlook is more uncertain than it has been in years, the banking industry finds itself at the vortex of a financial market storm that originated in subprime ...

Newsmakers

Newsmakers : New Leader Details Economic Revival Strategy

JAMAICA


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Golding: Ambitious economic plans.

Newly sworn-in Jamaican prime minister Bruce Golding is seeking ways to kick-start the island’s sluggish economy and tackle mounting social pressures over escalating unemployment and crime rates (his own forecasts predict 1,300 murders ...

Newsmakers : The Maestro Strikes A Chord

UNITED STATES


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Alan Greenspan: Introducing his own turbulence to the markets.

Talk about good timing. Alan Greenspan’s memoirs, entitled The Age of Turbulence, topped the bestseller list at Amazon.com last month as volatility continued to rattle global financial ...

Newsmakers : Trichet Urges Better Risk Control

EUROPE


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Trichet: Questions investors' reliance on credit ratings.

The subprime mortgage crisis in the US has forced the president of the European Central Bank (ECB) to speak out about the new sources of risk being created by the market’s ...

Milestones

Milestones : Latin American Markets Ride Out Global Turmoil

LATIN AMERICA


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Lipsky: Sounds a warning.

When the meltdown in US subprime mortgages triggered forecasts of a possible US recession, unleashing global credit and money market volatility, Latin America proved to be relatively insulated from the debacle. Though initially shaken ...

Milestones : No Credit Crunch Here

CHINA


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Feeling the squeeze: Chinas shoppers face swiftly growing prices.

China’s central bank increased reserve requirements for the seventh time this year in September in a losing battle to control the growth in bank credit. Outstanding loans were up ...

Milestones : Oil Firm Ipo Sets Stage For More Share Issues

COLOMBIA


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Ecopetrol's Cartagena oil refinery.

The Colombian energy sector entered a new investor-friendly era with the late-August IPO of Ecopetrol, the state-owned oil company. Ecopetrol is Colombia’s largest corporation, with income of around $18 billion in 2006. The ...

Milestones : Sepa Rollout Faces More Hurdles

EUROPE


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Desmares: Corporates cool on SEPA.

Businesses and public sector organizations operating in Europe have until 2010 to abandon existing national payment instruments and adopt new pan-European credit transfer and direct debits. At least that is the central tenet of ...

Corporate Finance

Corporate Finance : Commercial Paper Market Dries Up

CORPORATE FINANCING NEWS / CORPORATE DEBT


The market for short-term corporate IOUs, or commercial paper, has continued to shrink in recent weeks amid the spreading credit crunch, putting more pressure on traditional bank credit lines.

Commercial paper outstanding in the United ...

Corporate Finance : Deals Still Getting Done, But They Are Smaller

MERGERS & ACQUISITIONS


The global credit crunch appears to be having a major impact on the size and financing of takeovers, where cash deals for much smaller targets are increasingly the rule.

The biggest announced M&A; transaction worldwide in August ...

Emerging Markets Roundup

Cover Story : Trying Times

THE WORLD BANK

The World Bank’s struggle to redefine its role in a globalized economy has raised a fundamental question: Do we really need a World Bank?


cover_story_01 No sooner had the dust settled after the controversial departure of the ...

Features : Balancing Act

COUNTRY REPORT / BRAZIL


Buffeted by the shockwaves from the US subprime mortgage crisis, Brazil has to steer a steady course if it is to keep its economic development on track.

features_e01

Buffeted by the shockwaves from the US subprime mortgage crisis ...

Features : In For The Long Haul

ANALYSIS / INFRASTRUCTURE FUNDING

Many Asian countries desperately need to upgrade their infrastructure while cash-rich private equity funds are scouring the region for long-term investments. Is this a match made in heaven?


features_a01

Nag: We can only meet a small fraction of ...

Emerging Markets : EM Buyers Sitting On Long-Term Gains

NEWS


Foreign institutional buyers who purchased emerging market equities to realize value from long-term investments are not exiting their positions, despite increased volatility in global markets, according to a leading broker in the markets.

There has been no increase in ...

Emerging Markets : Growth Races Ahead

INDIA


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Organized retail is growing in India.

India’s economic growth continues apace. For the April-June 2007 quarter, which is the first for the Indian fiscal year, GDP growth was 9.3%—up marginally from the previous quarter’s growth ...

Emerging Markets : Investors Cheer As Rules Are Relaxed

CHINA


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On the rise: China's rule changes have boosted Hong Kong's markets.

China has further relaxed constraints on the investment industry, saying it will, for the first time, allow private citizens to invest individually in the Hong Kong ...

Emerging Markets : Putin’s Choice For PM Baffles Observers

RUSSIA


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Zubkov: Putin's surprise favorite to take over as prime minister.

In a long-overdue cabinet shuffle, Russian prime minister Mikhail Fradkov submitted his resignation on September 12. Hours later president Vladimir Putin nominated the relatively unknown head of the ...

Emerging Markets : Quest For Investment Grade Gathers Pace

BRAZIL


Some 50% of respondents to a Merrill Lynch emerging market investor survey in August said they were bullish on Brazil. Reaching a similar conclusion, rival Morgan Stanley predicts Brazilian markets will see further upside, despite recent US market turbulence ...

Emerging Markets : Rebuilding India’s Infrastructure

COMPANY TO WATCH: LARSEN & TOUBRO/INDIA


Engineering and construction conglomerate Larsen & Toubro, one of India’s largest listed companies, has evolved into a multinational corporation with offices in 30 countries, a growing order book in the Middle East, and manufacturing ...

Emerging Markets : Russia’s Power Utility Spins Off Generators

DR NEWS


Russia’s national power utility OAO Unified Energy System has completed the spin-off of two power-generation units, OGK-5 and TGK-5, completing the first part of the government’s plan to break up the company. UES, the former power ...