Magazine Cover

Cover Story

The Price Of Stability

COVER STORY: FINANCIAL REGULATION

By Justin Keay

Businesses can expect to see their top-line costs rise under new banking regulations in the US and Europe. Will it be money well spent?

600_cover-story If in pre-credit-crunch days policymakers uttered the phrase “financial ...

Best Internet Banks

Technology Helps Banks Stay Ahead

ANNUAL SURVEY: BEST INTERNET BANKS PART 1


In the first of a two-part series, Global Finance identifies the best online corporate and consumer banks by country and regionally by product or service category.


By Adam Rombel

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The past few years ...

Newsmakers

Kenya To Become Green Power Pioneer

KENYA

By Dan Keeler

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Kenya’s Olkaria II geothermal plant generates 70MW

Kenya’s government is looking for a strategic investor to buy 19% of the country’s principal electricity supplier, the Kenya Electricity Generating Company (KenGen). Eddy Njoroge, KenGen ...

Corporate Finance

Country Report: Egypt

GETTING SMART

By Gordon Platt

Egypt is turning to information technology to create a knowledge-based economy.


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Near the pyramids at Giza, on the outskirts of Cairo, Egypt's first technology park is changing the desert landscape. A total of 43 ...

DR Trading Sets Record In First Half

CORPORATE FINANCING NEWS — GLOBAL EQUITY/DRS


By Gordon Platt

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Depositary receipt trading worldwide rose 8.3% to more than 78 billion DRs in the first half of this year and was valued at a record $1.84 trillion, according to ...

Emerging Market Deals Boost M&A

CORPORATE FINANCING NEWS - MERGERS & ACQUISITIONS

By Gordon Platt

Emerging markets accounted for nearly one-third of global mergers and acquisitions in the first half of 2010, according to an analysis by Thomson Reuters. M&A; activity involving companies based in emerging ...

High-Yield Debt Has Record Half

CORPORATE FINANCING NEWS — CORPORATE DEBT

By Gordon Platt

The volume of global corporate high-yield debt issues in the first half of 2010 set an all-time record for any six-month period, according to Thomson Reuters. The total of $130.7 billion ...

Lower Volatility Spurs Carry Trade

CORPORATE FINANCING NEWS - FOREIGN EXCHANGE

By Gordon Platt

The Federal Reserve is likely to keep US interest rates at record lows well into next year, enabling global investors to borrow dollars for a song and invest in higher-yielding assets in ...

Emerging Markets Roundup

DR Trading Sets Record In First Half

CORPORATE FINANCING NEWS — GLOBAL EQUITY/DRS


By Gordon Platt

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Depositary receipt trading worldwide rose 8.3% to more than 78 billion DRs in the first half of this year and was valued at a record $1.84 trillion, according to ...

Emerging Market Deals Boost M&A

CORPORATE FINANCING NEWS - MERGERS & ACQUISITIONS

By Gordon Platt

Emerging markets accounted for nearly one-third of global mergers and acquisitions in the first half of 2010, according to an analysis by Thomson Reuters. M&A; activity involving companies based in emerging ...

Cement Maker Bags Contracts in LatAm

Emerging Markets Investor: Company To Watch


By Gordon Platt

Cementos Argos, the leader in the Colombian cement industry, with a 51% market share, is benefiting from growing construction activity in its home market and a healthy backlog of export orders ...

Free-Float Rules Could Boost Indian DRs

Emerging Markets Investor: DR News

By Gordon Platt

India’s finance ministry issued neles in June requiring listed companies to have a public float of at least 25% of their shares. The new rules could prompt a rush of public ...

Local Government Debt Shadows China

Emerging Markets Investor: News

By Gordon Platt

Julian Thompson, portfolio manager at Threadneedle Emerging Markets Equity Fund, says he expects China’s economic growth to slow and sees much more opportunity in other parts of the world. Much of China ...

Economic Focus: Brazil

PLAY ON

By Antonio Guerrero

Brazil is betting that its huge investment in infrastructure projects for the 2014 Soccer World Cup and the 2016 Olympics will provide long-term benefits to the country.

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Just six weeks after Rio de Janeiro won ...

Emerging Markets: Africa

ROUNDUP

By Antonio Guerrero

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Front right: Corruption fighter Goodluck Jonathan

Flushed with confidence after its peaceful referendum on a new constitution, Kenya plans to issue $390 million of infrastructure bonds, the government’s fourth such issue. The bonds will have ...

Emerging Markets: Brazil

ROUNDUP

By Antonio Guerrero

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Flying high: Embraer sees rise in order backlog

Spain’s Telefónica agreed to buy Portugal Telecom’s stake in Vivo, Brazil’s largest mobile-telephony provider, for $9.8 billion. With 56 million clients, Vivo has an ...

Emerging Markets: China

ROUNDUP

By Thomas Clouse

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Power hungry: China’s energy use climbs

China overtook the United States to become the world’s largest energy consumer, according to figures released in July by the International Energy Agency. China used energy equivalent to ...

Emerging Markets: India

ROUNDUP

By Aaron Chaze

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Strong sales: Mahindra & Mahindra’s popular SUV

In the face of rising inflation and GDP growth, India’s central bank, the Reserve Bank of India surprised observers with a higher-than-expected interest rate hike. The RBI upped ...

Emerging Markets: Middle East

MIDDLE EAST

By Gordon Platt

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High point: Saudi Arabia dominates region’s IPOs

Companies based in Saudi Arabia led initial public offerings in the Middle East in the first half of 2010, but the United Arab Emirates is expected to ...

Emerging Markets: Russia

ROUNDUP

By Kim Iskyan

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Smoke signal: Moscow suffers as wildfires rage

In response to a severe drought that could destroy as much as a third of Russia’s grain harvest, and following a spike in grain prices in July, Russia ...

Additional Stories

TCM: Risks And Rewards

By Anita Hawser

Having survived one of the worst recessions on record, companies understand better than ever that treasury management is important for improved efficiency, whether through tightening their accounts-receivable or accounts-payable processes to unlock working capital or limiting the ...

Running For Cover

UPDATE — ENVIRONMENTAL RISK INSURANCE

By Paula L. Green

Demand for environmental and climate-change-related insurance is set to rise sharply.

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Along with more government regulations meant to rein in multinationals’ damage to the environment, the heightened public awareness of industry’s ...

Shine A Little Light On Me

FOCUS — EQUITY DERIVATIVES

By Gordon Platt

New regulation should improve transparency in the increasingly popular equity derivatives market.

The financial reforms signed into law by President Obama on July 21 will substantially change the way many equity derivatives are traded ...

TCM: Braced For Turbulence

FX EXPOSURE MANAGEMENT

Currency volatility is increasing, and companies are finding that more than ever they need to have an effective FX hedging strategy in place.


By Anita Hawser

Frank Pirozzi is the assistant treasurer at Red Hat, a Raleigh ...

TCM: Data Drivers

DATA ANALYTICS Analytics solutions pull data from disparate sources to provide a big-picture view of operations and exposures. By Denise Bedell In the wake of the financial crisis, the job of the treasurer has increasingly focused on a few key ...

TCM: Shared Value

SHARED SERVICE CENTERS There are many options for how to set up and roll out a shared service center, providing an approach for every budget and corporate structure. By Denise Bedell As the recession thaws and purse strings again begin ...

TCM: Who's Who

WHO'S WHO


Who’s Who in Treasury and Cash Management


By Vanessa Drucker

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Donald E. Berk Senior Vice President,
Corporate & Institutional Services

Northern Trust


As director of product and process management for enterprise banking services at The Northern Trust ...

Trading Up

ANALYSIS — ASIA'S EXPORTERS

By Thomas Clouse

Asia’s exporters are all benefiting as China’s manufacturers begin to move up the value chain.

The Asian economic miracle is hardly a new story, but every once in a while, a ...

Country Report: Spain

AN ATTAINABLE GOAL

By Antonio Guerrero

Spain's economy is still under pressure, but signs of renewed confidence are slowly emerging.

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When Spain beat the Netherlands in July to win the country's first-ever soccer World Cup, Spaniards took to ...

Top Firms Spurn Bank Finance

EUROPE

By Anita Hawser

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No thank you: Companies reject costly bank loans

Investment-grade companies are shunning bank lending and opting instead for the bond markets in order to raise financing, a report by Fitch Ratings says. Based on a survey ...

Turbulence Indices Provide Risk Insight

GLOBAL

By Anita Hawser

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State Street’s Will Kinlaw

Stress testing risk models and investment portfolios for extreme market events has certainly come into vogue in the wake of the financial crisis. Banks’ risk models were criticized for focusing too ...

Former Foes Tighten Ties

VIETNAM

By Thomas Clouse

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Clinton: Comments on
marine conflicts upset China

Vietnam and the United States participated in joint military exercises last month for the first time since the war between the two countries ended 35 years ago. The military ...

HP’s Hurd Gets Golden Parachute

UNITED STATES

By Gordon Platt

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Who me? Hurd’s multi-million dollar payoff riles investors

Mark Hurd received a $20 million Golden Hello when he joined as chief executive of Hewlett-Packard in 2005, and a Golden Handshake that could be worth ...

The Fed Adopts Transparent Policy

UNITED STATES


By Gordon Platt

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Taking a new tack: Ben Bernanke, Fed chairman

Fed watchers around the world were surprised in August when the Federal Open Market Committee announced a decision to target the Federal Reserve’s balance sheet, rather ...