February 2011

COVER STORY: GAIN OR PAIN   By Paula L. Green   In their headlong rush to set up operations in the fast-growing emerging markets, many Western companies are failing to take full account of the risks involved. The consequences could ...

TRADE FORECAST: CLOUDY WITH A CHANCE OF PROTECTIONISM   By Gordon Platt   Bankers are optimistic that financing will be available to support projected growth in world trade, but regulatory change and currency wars have them on edge.   Trade ...

COMPANY TO WATCH: RISING SHIP ORDERS LIFT HYUNDAI HEAVY INDUSTRIES   By Gordon Platt   The growth in world trade, as well as higher cargo rates, has triggered a surge in orders for new containerships.   The trend is boosting ...

EMERGING MARKETS INVESTOR: DR NEWS   By Gordon Platt   China-based companies listed on US exchanges in record numbers in 2010 and were among the best-performing initial public offerings, although many had trouble holding on to their first-day gains.   ...

EMERGING MARKETS INVESTOR: NEWS   By Anita Hawser   Emerging market equities look set to enjoy another strong year in 2011 on the back of robust economic growth fueled by domestic consumption and a recovery in exports.   "Emerging equities are ...

  ROUNDUP: AFRICA   By Antonio Guerrero   Government incentives are paying off for Zambia's copper sector, with output expected to surpass 740,000 tons this year for the first time, pushing it above the record highs of the early 1970s. ...

ROUNDUP: BRAZIL   By Antonio Guerrero   The Brazilian government is taking further measures to halt a currency rally that may dent the country's trade surplus, with the real having gained more than 40% against the dollar since the end ...

ROUNDUP: CHINA   By Thomas Clouse   China has begun taking steps to cool the growth of its automotive market after a 32% increase in vehicle sales last year worsened traffic and air pollution problems in many Chinese cities.   ...

  ROUNDUP: INDIA   By Aaron Chaze   New Delhi–based IndiGo, India's third largest domestic airline, placed the world's largest single order ever for commercial jetliners.   Flying high: IndiGo places record-breaking aircraft order IndiGo ordered 180 aircraft with a ...

ROUNDUP: MIDDLE EAST   By Gordon Platt   Saudi Arabia announced a record budget for 2011, which includes $155 billion in spending, an increase of 7.4% from a year earlier.   Sunny outlook: Qatar's soccer stadiums will use solar power ...

  ROUNDUP: RUSSIA   By Kim Iskyan   The US Senate in late December ratified the New START treaty, which calls for reductions in nuclear arms by both Russia and the US.   Obama in New START with Russia The ...

ANGOLA: ON THE ROAD TO RECOVERY   By Dan Keeler   Ravaged by a 27-year civil war and buffeted by the recent global financial crisis, Angola has suffered more than its fair share of challenges. Undaunted, its leaders are striving ...

MILESTONES: RUSSIA   By Laurence Neville   Russia spent much of 2010 in the doldrums.   Russia: Poised for significant growth While its fellow BRICs—Brazil, India and China—stormed ahead, Russia lagged behind. The causes of its lethargy were varied, but ...

MILESTONES: SINGAPORE   By Thomas Clouse   After a year in which its economy expanded at the fastest rate since it achieved independence in 1965, Singapore may be about to suffer a hangover.   Too hot? Singapore aims for sustainable ...

MILESTONES: MEXICO   By Antonio Guerrero   While Mexico's economy is recovering from its worst recession in 80 years, the spread of drug-related violence is hindering a more dynamic rebound.   The drug war has claimed more than 30,000 victims ...

  CORPORATE FINANCING NEWS: CORPORATE DEBT   By Denise Bedell   After a record year, and four months hovering at around $30 billon in monthly issuance volumes, US high-yield debt issuance declined in December to $21 billion, according to data ...

  CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS   By Denise Bedell   It was a benchmark year for the global IPO markets, in more ways than one.   In the last quarter of 2010, IPOs broke records in terms of issuance ...

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE   By Denise Bedell   Contrary to some analysts' expectations, developing countries continue to view the US dollar as the reserve currency of choice, as evidenced by newly allocated official reserves of developing countries—even in ...

  CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS   By Denise Bedell   While much has been said about the hoards of cash that companies are holding on their balance sheets, companies are likely to use a blend of financing options, ...

NEWSMAKERS: CHINA   By Shu-Ching Jean Chen   Commonly known for adopting a slow and measured approach to major reform, China has surprised markets with the speed of its moves to internationalize its currency.   China's yuan: Going global? Its ...

NEWSMAKERS: POLAND   By Jonathan Gregson   Not only does Poland stand alone within the European Union in having delivered GDP growth through every quarter since 2008, but its intrinsically conservative banking system survived the crisis well.   Jagiełło: Looking ...

NEWSMAKERS: SOUTHERN SUDAN   By Justin Keay   Sudan, the largest country in Africa and the Arab World—and the tenth largest in the world—is about to get a good deal smaller.   Bold move: Voters decide Southern Sudan's future Preliminary ...

NEWSMAKERS: UNITED STATES   By Anita Hawser   Proprietary trading by banks and OTC derivatives has come under increased regulatory scrutiny following the 2008 subprime crisis, but, to the surprise of many, regulators are also fixing their gaze on money ...