Global news and insight for corporate financial professionals
COVER STORY | INDIA
As prime minister Narendra Modi begins his term in office, global market watchers are hopeful that it could signal a sea change for India’s governance, economy and friendliness to business. But most are tempering that enthusiasm with a dose of skepticism.
REGIONAL FOCUS | EMERGING ASIA
The bigger the opportunity, the bigger the risk. This certainly holds true for frontier and emerging economies in Asia. Finding the right balance between the two is a key challenge for multinationals looking to invest there.
COUNTRY REPORT | NIGERIA
Nigeria lacks one key element for stellar growth: a power sector commensurate with its prospects.
COUNTRY REPORT
With strong underpinnings for reform now in place, Portugal is seeing signs of economic improvement. But now that it has increased exports, will greater vulnerability to global trade winds haunt growth?
FRONTIER MARKETS REPORT | SLOVAKIA
Slovakia has moved resolutely to compete with other former Soviet-bloc nations for foreign direct investment.
The need for financing for supply-side firms continues to grow—particularly in emerging and frontier markets. More companies are looking to SCF to fill this gap.
Subcustodians are being pressured by declining margins and low interest rates at the same time they are trying to cope with an onslaught of new regulatory requirements. For those with the skill and the wherewithal to meet the challenges, however, the business of protecting and servicing client assets remains profitable. Global investing is expected to continue to increase in the future.
Ebenezer Essoka, a native of Cameroon, is vice chair for Africa at Standard Chartered. He sat down with Global Finance to discuss African trade and the need for African policymakers to ensure that foreign investment deals are in the best interest of all stakeholders.
GCC REGIONAL SUPERSECTION 2014 | INTRODUCTION
The six countries of the Gulf Cooperation Council have some of the world’s highest living standards and a combined GDP of more than $1.6 trillion. They play an important role in maintaining global economic stability, and their continuing prosperity depends critically on oil prices and the ability to generate surpluses to pay for infrastructure development and job creation.
GCC REGIONAL SUPERSECTION 2014 | UNITY
Despite more than 30 years of political and economic unity, the Gulf Cooperation Council countries remain divided when it comes to foreign policy and approaches to national and regional security.
GCC REGIONAL SUPERSECTION 2014 | BANKING SECTOR
Banks in the GCC are leveraging the latest technologies to keep pace with a customer base whose members are increasingly demanding, wealthy and tech-savvy.
GCC REGIONAL SUPERSECTION 2014 | INNOVATION
Attempts to drive innovation in the Gulf are still at an early stage. But as countries increase R&D spending, the results could have a huge impact on non-oil growth.
SIBOS SUPERSECTION 2014 | INTRODUCTION
The Sibos financial services conference—sponsored each year by the Society for Worldwide Interbank Financial Telecommunication (SWIFT)—will be held in Boston this year in September and, according to organizers, is likely to have a record turnout of attendees and media.
SIBOS SUPERSECTION 2014 | THE INNOVATORS
Treasury solutions still don’t provide much business intelligence as they lack good integration with ERP systems. But banks and vendors are starting to close the gap.
SIBOS SUPERSECTION 2014 | THE INNOVATORS
Global Finance presents its second annual look at some of the key innovations over the past year within the transaction services space. We make use of the OECD’s Oslo Manual of Innovation, along with submissions, key research and the input of experts, to evaluate those banks and service providers that stand out in terms of innovation over the past year.
SIBOS SUPERSECTION 2014 | COLLATERAL MANAGEMENT
Treasurers are warily eyeing the impact of new regulations on the amount of collateral they must hold against hedged positions—and these new regs will affect their ability to manage and forecast cash.
SIBOS SUPERSECTION 2014 | SUPPLY CHAIN FINANCE
New SCF solutions are offering a range of tools to help suppliers manage working capital and diversify funding sources.
SIBOS SUPERSECTION 2014 | CASH & TRADE CONVERGENCE
As more companies focus on gaining visi-bility into both their physical and financial supply chains, banks and technology vendors are further integrating their cash management and trade solutions.
COLOMBIA
Juan Manuel Santos’ second term as president of Colombia might prove a bit harder than his first—and not only because he won this election with a lower majority.
RUSSIA/CHINA
The recent raft of Chinese investments into Russia following president Putin’s May visit to Shanghai might look like a rapid response to counter Western sanctions.
ASIA
The members of the Association of Southeast Asian Nations (Asean) are faced with important decisions over the organization’s future amid increasing conflicts between China and member states over territorial claims in the South China Sea.
SCOTLAND
The outcome of this September’s referendum on Scottish independence remains too close to call.
Marc Chandler is the global head of currency strategy at investment bank Brown Brothers Harriman.
FINANCE & CAPITAL | TRENDS: Islamic Finance
FINANCE & CAPITAL | MANAGEMENT: CORPORATE DEBT
FINANCE & CAPITAL | CAPITAL MARKETS
The European Central Bank’s adoption of a negative deposit rate for banks’ excess reserves [meaning they charge interest for bank reserves held at the ECB] could have a widespread impact on money markets and corporate cash-management policies.
FINANCE & CAPITAL | MANAGEMENT: Accounting
FINANCE & CAPITAL | CAPITAL MARKETS: DEPOSITARY RECEIPTS
FINANCE & CAPITAL | CAPITAL MARKETS: AMERICAN DEPOSITARY RECEIPTS
FINANCE & CAPITAL | TRENDS: SOVEREIGN DEBT
FINANCE & CAPITAL | TRENDS: SOVEREIGN DEBT: SNAPSHOT: M&A
THAILAND
When Thailand’s general Prayuth Chan-ocha seized power in a military coup in late May, he didn’t rely on the element of surprise
UNITED STATES
After steering American International Group (AIG) during the financial crisis and putting it back on a sounder footing, president and chief executive officer Robert Benmosche is handing the baton over to Peter Hancock.
MALAWI
A struggling economy and widespread corruption are but a few of the challenges new Malawian president Peter Mutharika will face during his five-year mandate.
QATAR
In June, after only a year in office, Tamim bin Hamad Al Thani, the 34-year-old emir of Qatar, found himself at the center of two global news stories.
