Capital Raising & Corporate Finance
Capital Markets | Middle East Equity
The Middle East is experiencing a boom in initial public offerings, following years of relative inactivity since the global financial crisis. The area’s IPO markets began to recover in the fourth quarter of last year, and new share issues are now coming at a fever pitch, despite falling oil prices that could threaten regional economies.
MANAGEMENT | DERIVATIVES REGULATION
Nonfinancial corporations that hedge risk by using derivatives not traded on exchanges won an important victory in early September, when US bank regulators agreed to exempt such companies from rules that would have required them to post collateral against their positions.
CAPITAL MARKETS | AFRICAN EQUITY
Initial public offerings on the Nairobi Securities Exchange have been few and far between in recent years.
CAPITAL MARKETS | ISLAMIC FINANCE
To diversify its sources of financing, Goldman Sachs plans to issue a benchmark Islamic bond, at a time when demand for sukuk is outrunning supply. Meanwhile, South Africa is planning its first sovereign sukuk, and the Egyptian government is working on a new sukuk law, following the military’s overthrow of Islamist president Mohamed Morsi last year.
CAPITAL MARKETS | FOREIGN EXCHANGE
It is a changing world for FX traders. Regulatory uncertainty and low volatility are putting a damper on the foreign exchange market, with spreads narrowing by 20% already this year—to record lows.
TRENDS | US BANKING
TREASURY & CASH MANAGEMENT | GLOBAL TRANSACTION BANKING
With transaction banks in a state of global change, what is the impact for corporates?
TREASURY & CASH MANAGEMENT | GLOBAL FINANCE CASH 25
The Global Finance Cash 25 ranks public companies by cash, cash equivalents and short-term securities on their balance sheets. Data is gathered from more than 70,000 public companies worldwide. It is a ranking of nonfinancial corporations—we exclude financial institutions from the list.
CAPITAL MARKETS | MIDDLE EAST EQUITY
Riyadh, the Saudi capital, has already built a new financial district, named after King Abdullah, but its 42 new skyscrapers stand largely empty. That could change following the decision by the government in July to allow foreign financial institutions to invest directly in listed shares, starting in the first half of 2015.
TRENDS | SNAPSHOT: PANAMA
CAPITAL MARKETS FOCUS: MERGERS & ACQUISITIONS
Companies around the world are stepping up their due diligence on mergers and acquisitions involving Chinese counterparties, after several major deals have been called into question as a result of Peking’s widening corruption probe.
MANAGEMENT | PENSIONS
As people live longer, many companies are discovering that they have to pay pension benefits to retirees for longer than they had expected. Insurance companies are stepping in with new products that can help take this “longevity risk” out of corporate defined-benefit pension plans.