May 2010

COVER STORY: CORPORATE DEBT   A gargantuan wall of debt coming due over the next few years could impede all but the highest-rated corporations’ efforts to refinance their debt.   By Jonathan Gregson   Just as the United States and ...

BACK FROM THE BRINK   Emerging European economies are starting to recover from a steep and painful slowdown.   By Justin Keay   For those of an anxious disposition, emerging Europe last year was an uncomfortable place, with the risk ...

DERIVED VALUE   Global Finance brings together a group of industry leaders to discuss the prospects for the exchange-traded derivatives market.   Moderated by Joseph Giarraputo     Global Finance: The global financial system has come through a near-death experience. ...

RIGHT TURN   A rash of recent elections in Latin America has produced a marked swing to the political right. The region's new leaders are trying to strike a delicate balance as they attempt to build on their leftist predecessors' ...

AFRICA   By Gordon Platt   REGIONAL WINNER: Standard Chartered Bank Standard Chartered Bank's earnings from its African operations rose 54% last year to $482 million. The London-based emerging markets bank receives 90% of its income and profits from Asia, ...

ASIA   By Anita Hawser   REGIONAL WINNER : HSBC As regional and foreign banks look to Asia to grow their business beyond their domestic markets, competition is heating up in the region. Traditionally a strong provider across 20 or ...

EUROPE   By Paula L. Green   REGIONAL WINNER: RZB/Raiffeisen International Austria-based RZB/Raiffeisen International bags the regional award for the fourth year in a row after managing to turn in a creditable performance despite atrocious market conditions. With a 1.7% ...

LATIN AMERICA   by Antonio Guerrero   REGIONAL WINNER: Banco Santander Brazil continues to shine as the jewel in Santander's crown, helping the Spanish bank consolidate its position as Latin America's premier financial group. Santander Brasil set a benchmark in ...

MIDDLE EAST   By Gordon Platt   REGIONAL WINNER : National Bank of Kuwait National Bank of Kuwait, the leading bank in Kuwait and the highest-rated bank in the Middle East, earned $925 million last year, an increase of 4% ...

BEST EMERGING MARKET BANKS 2010 In our 17th annual survey of top banking performers in emerging markets, we select winners in 101 countries and five regions. By Gordon Platt   Emerging market banks have sailed through the global financial crisis ...

Roundup   By Antonio Guerrero   Digging deep: Companies mining in Zambia face high taxes The World Bank is asking members to support a controversial $3.75 billion loan to Eskom, South Africa's state-run power utility. The loan would be used ...

Roundup   By Antonio Guerrero   Cotton on: End of trade battle gives hope in ethanol dispute The Brazilian government launched the second phase of its economic stimulus plan, this time involving an estimated $883 billion in infrastructure investments through ...

Roundup   By Thomas Clouse   Capital idea: Investors can now buy futures China's economy grew by 11.9% in the first quarter of the year, its fastest rate in three years, as retail sales jumped 17.9% and fixed asset investment ...

Investor: News   By Gordon Platt   Riyadh-based Falcom Financial Services has introduced the first Saudi Arabian exchange-traded fund (ETF) to be listed on Tadawul, the largest stock exchange in the Arab world. The decision by the Capital Market Authority ...

Roundup   By Aaron Chaze   Reliable growth: India’s largest company expands its reach Reliance Industries, India's largest company by market value and owner of both India's largest gas field and the world's largest crude-refining complex, has successfully acquired a ...

Investor: Company to Watch MercadoLibre / Argentina   By Gordon Platt   MercadoLibre, the largest online marketplace in Latin America, has more than 43 million registered users. The Buenos Aires-based ecommerce provider has been growing so rapidly that it regularly ...

Roundup   By Gordon Platt   Riyadh, future home of the GCC Monetary Council The UAE government announced plans to set up a federal credit bureau to collect information on individuals and corporations. The ministry of finance says the bureau ...

Roundup   By Kim Iskyan   Moscow metro bombings provoke renewed security fears Two suicide bombings in the Moscow metro in late March that killed more than 40 people renewed fears about the terrorist threat in Russia's population centers. The ...

Investor: DR News   By Gordon Platt   The largest Russia-based manufacturer of steel pipes for the oil and gas industry, TMK, upgraded its over-the-counter American depositary receipt (ADR) program to the OTCQX International premier platform. It is the third ...

ECONOMY BOUNCES BACK   A surge of growth late last year has accelerated in 2010, and there are reasons to believe the rebound can be sustained.   By Gordon Platt   Turkey is on a winning streak. In March this ...

Dubai   By Gordon Platt and Anita Hawser   Dubai: Debt resolution should improve economic fortunes Dubai moved a step closer to resolving its debt problems with the announcement of a plan to invest $9.5 billion to restructure its flagship ...

Global   By Anita Hawser   Reid: Imposing strict limits might impede growth With the concept of systemic risk still preoccupying global banking regulators, the International Monetary Fund has weighed in on the debate with some suggestions for far-reaching and ...

Global   By Anita Hawser   Mergers and acquisitions may have taken a dive during the recent financial crisis, but as the economy picks up, companies are looking to M&A; as a way to rapidly add to revenue growth in ...

HIGH-YIELD DEBT HAS RECORD QUARTER   By Gordon Platt   The volume of global corporate high-yield debt issues reached $75.5 billion in the first three months of 2010, breaking all quarterly records, according to Thomson Reuters. The total was up ...

STRENGTH IN US ECONOMY PROPELS DOLLAR, AS INTEREST RATE INCREASES DRAW CLOSER   By Gordon Platt   The dollar has found a new reason to rally. Earlier this year, the greenback benefited from the sovereign risk crisis that focused on ...

HUGE IPOS GET READY TO COME TO MARKET   By Gordon Platt   The pipeline of planned initial public offerings is beginning to look more like a dam that is getting ready to burst. A rush of stock offerings is ...

EMERGING MARKETS M&A; RISES SHARPLY   By Gordon Platt   Mergers and acquisitions involving companies in emerging markets more than doubled in the first quarter of 2010 compared to the same period a year earlier, reaching $183 billion, according to ...

United States   By Gordon Platt   Goldman Sachs: Fraud allegations hit its reputation The Securities and Exchange Commission charged Goldman Sachs with fraud on April 16, causing a sharp decline in equity prices, particularly for financial shares, and especially ...

Mexico   By Antonio Guerrero   Calderó n: Boosting investors’ confidence in Mexico While Mexican president Felipe Calderón works to kick-start his nation's economy, badly hit by the US recession, international investors are encouraged by signs of recovery and have ...

Kyrgyz Republic   By Simon Watkins   Kurmanbek Bakiyev After a week of defying a provisional government that seized power in an armed uprising that left at least 84 people dead, the Kyrgyz Republic's ousted president, Kurmanbek Bakiyev, resigned and ...

Malaysia   By Thomas Clouse   Najib Abdul Razak aims to boost Malaysia’s growth Malaysian prime minister Najib Abdul Razak has unveiled a new economic blueprint as part of his long-term strategy to transform Malaysia from a middle-income to a ...