The Court of the Dubai International Financial Center (DIFC) awarded more than $70 million in damages last November to a wealthy Kuwaiti family to cover losses resulting from the sale of $200 million of structured investment products.
Project financing is booming in Saudi Arabia, which leads the Middle East in deals, with a total of eight in 2015, worth more than $13 billion.
Global Finance held its Best Trade Finance Providers Awards Ceremony in Paris in January during the BAFT Global Annual Meeting. Top bank executives from around the world gathered to accept awards, joined by leading corporate and finance professionals who came to honor their colleagues.
Economists don’t anticipate a major economic impact from the mosquito-born Zika virus—so far, at least—although it’s certainly a kick in the shins for struggling Brazil and an overhang for tourism in Latin America.
2016 promises to be an exciting year for the money transfer industry, with the
possibility of new opportunities in terms of newer ways to reach the customer,
and newer markets to cater to. This would translate to the emergence of new
business models and business alliances. The year is likely to see incumbent
players challenged by newer players with new market offerings.
Corporate Finance & Capital
Management | Cybersecurity
Multinational corporations face rising IT challenges and cyberattacks. Retailer Target, office supply chain store Staples and global banking powerhouse JPMorgan Chase are just a few major companies that have recently been hacked—and that have sustained financial costs and damage to their reputations as a result.
Capital Markets | Privatization
Russian president Vladimir Putin is pinning his hopes on privatization to help ease Russia’s 2016 budget deficit, which, according to some estimates, could reach $38 billion, or 6% of GDP.
Capital Markets | Cross-Border Payments
Forty-five international banks have teamed up with the financial messaging provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) to launch an initiative aimed at making cross-border payments faster and more transparent.
Trends | Startup Investment
India is on the cusp of a “start-up” revolution, with prime minister Narendra Modi unveiling a dedicated $1.5 billion seed fund and tax breaks to help develop technology and other microenterprises.
Capital Markets | Debt Restructuring
Americans used to like Puerto Rico, a United States territory in the Caribbean, not only for its white, sandy beaches but also because of its high-yield, tax-free bonds.
Management | Shareholder Activism
Activist investors are knocking more loudly at banks’ doors. According to Thomson Reuters data, in 2015, activists launched 97 campaigns aimed at the US financial sector, 22 of them targeting banks.
Trends | Institutional Investors
In today’s low-yield environment, institutional investors’ quest for higher investment returns has taken on new meaning.
Capital Marktes | M&A
State-owned China National Chemical’s record $43 billion bid for Swiss agrochemical company Syngenta will be closely examined by a US government panel and other national regulators.