RAPID CHANGE IS KEEPING BANK CEOS ON THEIR TOES AS THEY SEEK TO MEET THE SURGING DEMAND FOR FINANCIAL SERVICES IN A FAST-GROWING BUT VOLATILE REGION. Record earnings and bulging loan portfolios are commonplace for banks in the Middle East ...
Dramatic growth in the Middle East’s economies is prompting a race to create a viable regional financial center Cities in four of the six member states of the Gulf Cooperation Council (GCC) are vying to become the leading financial center ...
Rapidly growing liquidity is fueling a surge in interest in Islamic financing in the GCC countries. The Middle East—and particularly the Gulf Cooperation Council (GCC) countries—is awash with liquidity, which is being invested in traditional industries such as oil and ...
Economic growth is on the rise in many African countries and a new partnership between big business and governments is set to improve the investment climate. According to Tanweer Akram, senior economist at Moody's economy.com, doing business in Africa presents ...
Receding security fears and growing profits are leading to a sharp rise in business travel. Business executives are racking up hundreds of billions of dollars in travel expenses for hotels, restaurant meals and airline tickets as an increasingly interdependent global ...
Global Finance brought together a group of key figures in the foreign exchange industry to discuss the dramatic growth of the market and its prospects for the future. GLOBAL FINANCE: Is the euro ready to challenge the dollar as a ...
SETTING UP CHARITABLE FOUNDATIONS HAS BECOME INCREASINGLY FASHIONABLE AMONG US CORPORATIONS. THE BENEFITS CAN BE SIGNIFICANT FOR ALL CONCERNED. Mutual benefit: Businesses can gain multiple advantages from setting up charitable foundations In 1999 Siemens USA faced a conundrum. A unit ...
Global Finance turns the spotlight on the specialized providers of services that make global investing possible. The value of a good sub-custodian becomes apparent not only when an investor wants to buy a foreign security but more so when he ...
Its EU hopes may be faltering, but Turkey is relentlessly pursuing its ambitious reform program—and reaping significant benefits in the process. While at least a decade away from possible membership in the European Union, Turkey is luring record levels of ...
US treasury secretaries with a Wall Street background have tended to preside over a strong dollar, in stated policy and in fact. The appointment of Henry Paulson, chairman and CEO of Goldman Sachs, to be treasury chief, therefore, could signal ...
RUSSIA Mordashov: Vaults to forefront of industry Steel maker Arcelor, under attack from Mittal, in late May announced a $16.6 billion merger with Russia’s Severstal, a deal that would create the world’s largest steel maker. The transaction, which was blessed ...
COMPANY TO WATCH: EMAAR PROPERTIES/UNITED ARAB EMIRATES Dubai-based Emaar Properties, one of the world’s largest real estate companies, made its first major push into the US market last month, paying more than $1 billion in cash to acquire John Laing ...
CHINA China’s real estate sector takes a breather Mordashov: Vaults to forefront of industry China CAMC Engineering in June became the first Chinese company in more than a year to launch an initial public offering (IPO) on one of China’s ...
NEWS Large volumes of positions in stocks, foreign exchange and commodity markets have been funded in “zero cost” Japanese yen. Now, with the yen rising and liquidity drying up, emerging stock markets are being particularly hard hit, according to a ...
INDIA Price shock: Consumers will be paying more at the pump in India The Reserve Bank of India (RBI) has joined the growing club of central banks raising interest rates. In a move that took bond and equity markets by ...
DR NEWS Putting the focus on the big emerging markets of Brazil, Russia, India and China, The Bank of New York has created a new BRIC Select ADR index, made up of American depositary receipts from these countries. “This new ...
Brazil Petrobras: Investing heavily The rapid appreciation of the Brazilian real against the dollar since last year is sparking concerns in Brasilia, as the situation has already prompted a slowdown in the nation’s oncethriving export sector. May exports hit a ...
Global Finance turns the spotlight on the specialized providers of services that make global investing possible. The value of a good sub-custodian becomes apparent not only when an investor wants to buy a foreign security but more so when he ...
United States Risky business: Investors want transparency Agroup of heavyweight US institutional investors have upped the ante over public companies’ failure to disclose the financial risks of global warming. More than 25 investors responsible for $1 trillion in assets called ...
Germany/Global Sales pitch: Companies are set to benefit If the number of football fans converging on Germany for the World Cup was not enough hysteria, a future events company predicts that World Cup “fever” is also likely to take its ...
Rapid change is keeping bank CEOs on their toes as they seek to meet the surging demand for financial services in a fast-growing but volatile region. Record earnings and bulging loan portfolios are commonplace for banks in the Middle East ...
AéROPORTS DE PARIS LAUNCHES IPO DESPITE STORMY SKIES, AS EUROPE’S EQUITY CAPITAL MARKETS GROW Aéroports de Paris, the state-owned operator of the airports serving the French capital, launched its long-awaited initial public offering last month, despite the biggest decline in ...
The volume of mergers and acquisitions announced worldwide so far this year reached $1.65 trillion as of June 7, up 38% from the same period a year earlier and the highest year-to-date total on record, just slightly ahead of the ...
Winston-Salem, North Carolina-based Reynolds American, the parent company of R.J. Reynolds Tobacco, borrowed $1.65 billion in the high-yield debt market to help finance the purchase of Conwood, the second-largest manufacturer of smokeless tobacco products in the United States. In a ...
US treasury secretaries with a Wall Street background have tended to preside over a strong dollar, in stated policy and in fact. The appointment of Henry Paulson, chairman and CEO of Goldman Sachs, to be treasury chief, therefore, could signal ...
