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Cover Story

Cover Story: World’s Best Banks 2013

TECHNOLOGY IS THE TRUMP CARD   By Jonathan Gregson, Antonio Guerrero, Anita Hawser, Gordon Platt and Michael Shari   Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have all demonstrated dedication ...

Features

Annual Survey: Best In Class

A selection of winners from Global Finance’s awards program over the past year.       World’s Best Foreign Exchange Providers 2013     World’s Best Derivatives Providers 2012     World’s Best Insurance Providers 2012     World’s Best ...

Frontier Markets Report: Ecuador

WAIT AND SEE   By Dan Keeler   As it tries to establish a new model for economic development, Ecuador presents a challenge for companies considering investing there.   Ecuador presents inward investors with a conundrum. The country is politically ...

Central Banker Report Cards 2013

‘A’ FOR EFFORT, ‘B-’ FOR RESULTS   By Antonio Guerrero, Anita Hawser and Gordon Platt   Global Finance presents its annual report on the performance of the world’s central bank governors.   There are a lot of new faces among ...

Global Trade: Rise Of The Superblocs

SPECIAL REPORT   By Erik Heinrich   Free-trade superblocs are being negotiated in North America, Europe and Asia. They will forever alter the flow of commerce and finance—and leave winners and losers in their wake.   The world is poised ...

Risk Management: Political Risk

WALKING A FINE LINE   By Paula L Green   As civil unrest continues to flare up in disparate markets worldwide, corporate risk managers must be aware of the impact that sanctions and regulatory changes can have on their political ...

World’s Biggest Banks 2013

RISING TO THE TOP   By Andrew Cunningham   Global Finance presents the World’s Biggest Banks 2013.   For the first time, a Chinese bank topped the list of the biggest banks in the world at the end of 2012—displacing ...

World’s Safest Banks 2013

KEY TO THE TOP   By Andrew Cunningham   Global Finance presents its annual ranking of the World’s Safest Banks. There are few changes at the top, showing the stability of the highest echelon of banks.   The safest 10 ...

Emerging Markets Roundup

Middle East: Iraqi Oil Pressures OPEC

EMERGING MARKETS ROUNDUP   By Gordon Platt   Rising Iraqi output could well represent the largest increase to global oil supplies over the coming years, easily outstripping projected gains from US shale oil, according to a report by National Bank ...

Russia: Arrest In 'Potash War'

EMERGING MARKETS ROUNDUP   By Kim Iskyan   Russian potash giant Uralkali in late July unexpectedly withdrew from an export delivery arrangement with Belarus Potash, the marketing agent for the Russian company and for Belaruskali, the Belarus national potash company. ...

Global Salon

Salon: Conrad Saldanha

GOING DOMESTIC   By Vanessa Drucker   Global Finance sat down with Conrad Saldanha, portfolio manager, emerging markets equities, at asset management firm Neuberger Berman, to discuss the future prospects for global emerging markets.   Global Finance: Emerging markets have ...

Supplements

Africa Auditions For A Leading Role

ANNUAL SUPPLEMENT: AFRICA 2013   With a stunning twist of fate, companies that are looking for a refuge from the turmoil of recent years in developed markets are turning their attention to the continent that for much of the past ...

Africa's Infrastructure: Power To The People

ANNUAL SUPPLEMENT: AFRICA 2013   By Dan Keeler   Innovative financing techniques and growing investor sophistication are prompting a surge of interest in sub-Saharan infrastructure projects.   Sub-Saharan Africa is rapidly turning into the growth and investment story of the ...

Africa's Mobile Banking: Boom Or Bust?

ANNUAL SUPPLEMENT: AFRICA 2013   By Erik Heinrich   Africa’s mobile-banking boom is a complicated tale of East versus West. But who’s approach will prove right in the end?   Mobile banking is a force for social and economic change ...

North Africa: Trading In Stability

ANNUAL SUPPLEMENT: AFRICA 2013   By Dan Keeler   Developed-markets watchers hope tightening trade ties and increasing foreign direct investment will help ease tensions in North Africa.   Two years after the Arab Spring swept through North Africa and beyond, ...

Country Report

Country Report: Poland

NO QUICK FIXES   By Udayan Gupta   Poland withstood the recent global economic recession relatively well, thanks to its sound economic policies, healthy economic fundamentals and broad-based support for large and small enterprises.   A little more than two ...

Country Report: Turkey

THE COST OF INSTABILITY   By Justin Keay   The full effects of recent upheavals and unrest in Turkey have not yet been felt, and policymakers have some serious work ahead to bring markets back in order and reassure investors ...

Milestones

BRICS: Currency Fund A Big Step

MILESTONES   By Gordon Platt   The emerging-markets currency crisis, spurred by the Federal Reserve’s plan to begin winding down its economic stimulus, is prompting the BRICS countries—Brazil, Russia, India, China and South Africa—to move forward with the creation of ...

Gibraltar: A Rock In A Hard Place

MILESTONES   By Gilly Wright   The ongoing spat between Spain and Britain over Gibraltar (a British-dependent territory that borders with Spain at the southern tip of the Iberian Peninsula) has drawn attention to the continued lack of commitment to ...

India: Crackdown Spooks Investors

MILESTONES   By KA Badarinath   Since the 1991 balance-of-payments crisis, the Reserve Bank of India (RBI) had not reversed the trend of easing capital controls. But on August 14, the rhetoric was different as the RBI curbed the outflow ...

US: Fracking’s Fractured Future

MILESTONES   By Ronald Fink   Recent write-downs of shale assets by BHP Billiton and Royal Dutch Shell have cast doubts on claims voiced in Washington, DC, that the US can attain energy independence as a result of the technological ...

US: Ratings Agency Fights US Lawsuit

MILESTONES   By Paula Green   Shareholders at McGraw Hill Financial, along with US taxpayers, could end up paying the price as the US government and one of the country’s major credit ratings agencies face off in a courtroom drama ...

Corporate Finance

FX: Recovery In Europe No Threat To Dollar

CORPORATE FINANCING NEWS   By Gordon Platt   A cyclical economic recovery is under way in the UK and the eurozone, but it won’t be strong enough to boost the euro against the dollar, analysts say.   They expect the ...

M&A: Brazil, Latin America In Slump

CORPORATE FINANCING NEWS   By Gordon Platt   Fears that the Federal Reserve would cut back on its bond-buying program, as well as the collapse of Brazilian billionaire Eike Batista’s commodities empire, triggered a sharp decline in mergers and acquisitions ...

Newsmakers

Argentina: The Ultimate Ultimatum

NEWSMAKERS   By Forrest Jones   Althought it was more than a decade ago that Argentina defaulted on $100 billion worth of debt, the fallout continues to make headlines today. Argentine president Cristina Fernández de Kirchner recently defied a US ...

Ireland: The Central Bank's French Connection

NEWSMAKERS   By Paula L Green   When he took over as deputy governor for financial regulation at the Central Bank of Ireland on the first of October, Frenchman Cyril Roux began working alongside a Swedish colleague, Stefan Gerlach, who ...

Mexico: Peña Nieto's Energy Reform

NEWSMAKERS   By Gilly Wright   The proposal by Mexican president Enrique Peña Nieto to reform Petróleos Mexicanos (Pemex), the state-owned oil and gas monopoly, could have far-reaching consequences for the country’s troubled economy. The proposal, which requires a constitutional ...

Back Page

Polls & Stats: Growth In Noncash Payment Transactions

Emerging Markets See Strong Growth in Noncash Payment Transactions   “Mature markets accounted for 77% of the total volumes [of noncash transactions] but ... growth rates are higher in the developing markets—18.7% versus 6.2% in the mature markets in 2011. ...

Additional Stories

Cheese Stands Alone as Stumbling Block to Canada-EU Free Trade Pact

Following nearly five hard years of negotiations, Canadian Prime Minister Stephen Harper on October 18 signed a Canada-European Union free trade agreement in Brussels. Although the agreement in principle got scant attention outside of Canada, the pact is, in fact, ...

Hedging Hot Again as Corporates Boost Balance Sheet Protection

Hedging gaining in currency For a global power management company like Eaton, which generated $21.8 billion in revenues last year selling products to clients in 175 countries, managing foreign exchange (FX) risk exposure is crucial. When the company acquired $5 ...

Could the Twitter IPO suffer a Facebook moment?

When the ubiquitous social media giant Twitter launches its initial public offering (IPO) in the coming weeks, the entire market will have its collective fingers crossed that the offering will not strike the same sour note as Facebook’s or BATS ...