Global Finance talked with Peter Blair Henry, dean of New York University’s Stern School of Business, about the urgency of bold reform and global trade to help developing nations.
Macroeconomy & Globalization
Newsmakers | Turkey
It has been said that ultimately all political careers end in failure, but until June 7, few observers were expecting this maxim to be true, quite yet, of Turkey’s president, Recep Tayyip Erdoğan.
Country Report | Nigeria
Nigeria is Africa’s largest economy, but the recent slump in oil prices has halved government revenues. The new Buhari government must now ensure the country’s economic roller coaster ride does not grind to a complete halt.
Milestones | New Zealand
In June, the Reserve Bank of New Zealand lowered its key cash interest rate a quarter of a percentage point to 3.25%, the first time the central bank has cut rates cut since 2011, citing a combination of deflationary pressure, plunging commodity prices and a slowdown in key export markets like China.
Newsmakers | Mexico
In June, Jaime Rodríguez Calderón became the first independent candidate to be elected a state governor in Mexico, winning office in Nuevo León.
Scotland still brings in more foreign direct investment than many larger countries. Last year it again headed the list of top UK destinations outside London.
Country Report | Portugal
Portugal’s economy is booming. Exports are up and unemployment is down. Insufficient capital investment is the last tough nut to crack, and the government is attacking it with gusto—and significant tax reform.
At the beginning of the summer, credit insurance company Coface issued its monthly list of upgrades and downgrades of country risk.
Vietnam | In May, Vietnam’s central bank once again devalued the country’s currency, the dong—the second such adjustment since January.
Country Report | Spain
The era of absolute majorities in Spanish politics is over.
The European Union is still debating the nature of its common currency, the position of non-eurozone EU members like the UK, and the future of stressed eurozone countries like Greece. But the situation in other parts of the world is quite different.
United Kingdom | Many questions are still being asked about David Cameron’s dramatic win on May 7. How did opinion polls, which predicted a tight race between Conservatives and Labour and even a Labour win, get it so wrong?
Country Report | Egypt
Egypt may be on the verge of a major turnaround, as the most populous country in the Arab world looks set for sustained growth, lower unemployment and a manufacturing renaissance under president Abdel Fattah al-Sisi.
India | Indian prime minister Narendra Modi celebrated his one-year anniversary in office in May, but the jury is still out on whether he’ll justify the hope that has been invested his new government.
Country Report | Spain
Spain’s economic resurgence has exceeded even the most optimistic expectations. But how sustainable is it, given structural inefficiencies, stubbornly high unemployment and the threat of external shocks?
Newsmakers | Nicaragua
When Nicaraguan president Daniel Ortega announced last December a plan to construct a controversial transoceanic waterway that would provide an alternative to the Panama Canal, he vowed the project would create jobs and bring prosperity to the hemisphere’s second-poorest nation.
Regional Report | The Caucasus
Azerbaijan, Georgia and Armenia, the nations that make up the region of the Caucasus, are all working hard to improve their business and economic climates, but with varying degrees of success.
Milestones | United Kingdom
As Britons prepare for elections on May 7, the only certainty appears to be uncertainty, which looks set to continue until polling day—and maybe for some time after.
Cover Story | Compliance
As the US has extended its regulatory reach beyond its own borders, other jurisdictions have followed its lead. Global corporations face an ever-growing burden in maintaining compliance with increasingly complex regulatory and reporting regimes. This is affecting their budgets, their structuring and also their strategy.