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Emerging Markets Roundup

Debt: Emerging Corporate Debt Grows

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Global investors are creeping further out on thin ice to capture the higher yields available on bonds issued by companies in emerging markets (EM).

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Analysts caution that many of the corporate credit ...

M&A: Strong Showing For Tech, EM Deals

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Despite a decline in global mergers and acquisitions valuations in the first half of 2012, a recent uptick in technology and Asia-Pacific deal values provides some hope for a revival of M ...

Emerging Markets Roundup: Africa

INVESTOR FEARS RISE ON MINE STRIKES


By Antonio Guerrero

Violent strikes at South Africa's Marikana platinum mine, operated by UK group Lonmin, could impact investment flows.

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Violence mars Marikana mine strikes

Photo Credits: MIKE HUTCHINGS / REUTERS

The strike over ...

Emerging Markets Roundup: Brazil

ROUSSEFF PLANS $66 BILLION IN INFRASTRUCTURE INVESTMENT


By Antonio Guerrero

In a bid to reverse Brazil's recent economic slowdown and boost competitiveness, president Dilma Rousseff in August unveiled a nearly $66 billion infrastructure investment program for roads, and is ...

Emerging Markets Roundup: China

CNOOC TARGETS CANADIAN ENERGY ASSETS


By Thomas Clouse

Activity in China's Internet industry has heated up in recent weeks, as the country's leading online companies compete for the attention of China's 540 million Internet users.

Baidu, which ...

Emerging Markets Roundup: India

DOMESTIC CONCERNS PUSH INDIAN COMPANIES TO INVEST OVERSEAS

By Aaron Chaze

Overseas direct investment by Indian companies rose to $1.95 billion in August from $1.24 billion the previous month.

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Sugar futures dropping on late monsoon season

According to ...

Emerging Markets Roundup: Middle East

FOREIGN AID PACKAGES BOOST EGYPT'S PROSPECTS

By Gordon Platt

Financial aid packages from the US, China, Saudi Arabia and Qatar, among others, will provide much-needed support for the Egyptian economy at a time when the country's FX reserves ...

Emerging Markets Roundup: Russia

CAPITAL FLIGHT GROWS AS POLITICAL UNCERTAINTY CONTINUES

By Kim Iskyan

Gazprom announced that it was indefinitely delaying additional investment in the Shtokman natural gas field in Arctic Russia.

Global oil and gas firm Total, which holds a 25% stake in ...

Risk Management: Political Risk

KEEPING RISK IN CHECK

By Paula Green

Political risk insurance is of increasing interest as unstable geopolitical conditions affect corporate operations.

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Expect the unexpected. That is what corporate risk officers worldwide have taken away from the unforeseen political and economic ...

Stats: Commodity Prices Hit Emerging Markets Hardest

Commodity Prices And Emerging Markets

Rising commodity prices have a much bigger effect on the performance of emerging markets economies than they do in developed markets.

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“This chart is important because it shows how sensitive emerging markets are to changes ...

World’s Best Banks 2012: Global Winners

By Gordon Platt, Thomas Clouse, Jonathan Gregson & Antonio Guerrero

Global Winners

BEST CORPORATE BANK

Deutsche Bank

Deutsche Bank, the largest bank in Germany, is a leading global corporate and investment bank and has long been the top foreign exchange bank ...

Global Salon

Salon: Robert Brusca, FAO Economics

ECONOMIC CHEMOTHERAPY

By Udayan Gupta

Global Finance sat down with economist Robert Brusca, head of consultancy FAO Economics, to discuss the global outlook, the future of Greece and the problem with current-account surpluses and deficits. Brusca has been a member ...

Milestones

Banker Arrests Shake Investor Confidence

MILESTONES: VIETNAM


By Thomas Clouse


Vietnam’s stock markets tumbled in August following the arrests of two of the country’s top bankers, Nguyen Duc Kien and Ly Xuan Hai.

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Asia Commercial Bank’s Kien arrested for “illegal business activity ...

Financial Utilities That Are Too Important To Fail

MILESTONES: US/GLOBAL


By Gordon Platt

Two years after Dodd-Frank became law, US regulators identified eight "systemically important" clearing and payment firms that provide critical infrastructure to the country's financial system.

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Systemically important financial utilities named

None of the ...

Russia Finally Seated At The WTO Table

MILESTONES: RUSSIA


By Kim Iskyan


After a 19-year process, on August 22, Russia finally became a full-fledged member of the World Trade Organization.

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Russia expects long-term benefits from WTO membership

Accession will have little impact in the short term, but ...

Corporate Finance

Debt: Emerging Corporate Debt Grows

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Global investors are creeping further out on thin ice to capture the higher yields available on bonds issued by companies in emerging markets (EM).

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Analysts caution that many of the corporate credit ...

DRs: Santander Mexico IPO Sets Record

CORPORATE FINANCING NEWS: GLOBAL EQUITY / DRS

By Gordon Platt

Santander, the eurozone’s biggest bank by market value, said it would issue up to $4.3 billion of shares in an initial public offering of up to 24.9% of ...

FX: Euro Supported By ECB Plan To Buy Bonds

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

The euro rebounded to a two-month high in early September, as European policymakers approved a plan to lower borrowing costs for debt-laden members of the euro area through open-ended purchases of bonds ...

M&A: Strong Showing For Tech, EM Deals

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Despite a decline in global mergers and acquisitions valuations in the first half of 2012, a recent uptick in technology and Asia-Pacific deal values provides some hope for a revival of M ...

Newsmakers

Owen Leads New Unit At RBS

NEWSMAKERS: UNITED KINGDOM

By Anita Hawser

Since its bailout after the 2008 financial crisis, Royal Bank of Scotland has come under pressure from the government to increase lending, and recent reports suggest the government is considering fully nationalizing the bank ...

Hailemariam To Lead Ethiopia’s Transformation

NEWSMAKERS: ETHIOPIA

By Valentina Pasquali

Plagued by corruption and emerging from three decades of stable but authoritarian government, Ethiopia is undergoing its first peaceful transfer of power after the death, in August, of longtime prime minister Meles Zenawi.


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Hailemariam: An ...

New YPF Chief Has His Work Cut Out For Him

NEWSMAKERS: ARGENTINA

Miguel Galuccio is very busy these days. The new CEO of Argentine firm YPF is discussing possible joint ventures with Chevron, Gazprom and the Argentine firm Bridas—partially owned by China's CNOOC.

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YPF aims to restore investor ...

The World's Safest Banks

Awards: World’s Biggest Banks 2012

ANNUAL SURVEY: The Big Get Bigger

By Andrew Cunningham

Global Finance presents the World’s Biggest Banks. Total assets are once again growing.

The world’s 50 biggest banks notched up assets of $65,956 billion at the end of ...

Additional Stories

Africa: Oil & Gas

DIFFFICULT CHOICES

By Antonio Guerrero

African oil producers stand to benefit from continued sanctions on Iranian oil exports. But their path is not without challenges.

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As the US and EU tighten the screws on Iran, imposing sanctions on Iranian oil ...

Central Banker Report Cards 2012: Asia-Pacific

By Gordon Platt, Antonio Guerrero and Anita Hawser

ASIA-PACIFIC

AUSTRALIA

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Glenn Stevens

Grade: A

Stevens has his hands full managing an economy with booming mining and financial sectors and weakness elsewhere. So far, he has managed to keep the overall ...

Central Banker Report Cards 2012: Europe

By Gordon Platt, Antonio Guerrero and Anita Hawser

EUROPE

BELARUS

Nadezhda Ermakova

Grade: C

Ermakova assumed the chairmanship of the central bank in August 2011 under somewhat controversial circumstances. Her predecessor, Petr Prokopovich, retired against a backdrop of spiraling inflation ...

Central Banker Report Cards 2012: Middle East & Africa

By Gordon Platt, Antonio Guerrero and Anita Hawser

MIDDLE EAST & AFRICA

ALGERIA

Mohammed Laksaci

Grade: C

The central bank of Algeria, Africa’s second-largest oil producer, has kept its discount rate at 4% for the past few years to encourage ...

Central Banker Report Cards 2012: The Americas

By Gordon Platt, Antonio Guerrero and Anita Hawser

The Americas

ARGENTINA

Mercedes Marcó del Pont

Grade: D

Marcó del Pont has focused much of her efforts over the past year on imposing draconian foreign exchange restrictions. Controls began after last ...

Israel's Export Economy Hits Turbulence

A STUDY IN CONTRADICTIONS


By David Lipkin

Geopolitical and fiscal uncertainties are having an impact on Israel's growth prospects, but the country is benefiting from development of its natural gas reserves.

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Although its export-oriented economy and high-tech sector are ...

SIBOS 2012

SWIFT AND EFFICIENT By Denise Bedell More companies than ever are now connecting directly to their banks and counterparties via the global SWIFT messaging system—970 corporates worldwide, at last count. That figure may seem small, but these are the companies ...

SIBOS: Centralization: Under One Roof

SHARING THE BURDEN

By Karen Kroll

New regulations and global uncertainty are reviving corporate focus on payment factories and in-house banks.

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As companies look further outside their borders for new growth and increased regulation makes tracking cash flows even more ...

SIBOS: SWIFT For Corporates

BEYOND CONNECTIVITY

By Rebecca Brace

SWIFT continues to roll out new company-focused initiatives as its corporate user-base grows.

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As SWIFT’s corporate membership figures rise—the number currently stands at around 970–the bank-owned cooperative is working on a number ...

World’s Best Banks 2012: Regional Winners

By Gordon Platt, Thomas Clouse, Jonathan Gregson & Antonio Guerrero

Regional Winners

BEST BANK IN NORTH AMERICA

JPMorgan Chase


JPMorgan Chase is the top US bank by assets. “For America’s largest companies, we raised or lent over $720 billion of ...