October 2009

Global Finance unveils its annual list of the best global, regional and country banks.   By Gordon Platt   Much has changed in the banking world over the past year—although not as much as might have been expected at the ...

Global Finance ranks the world’s 50 biggest banks, as measured by total assets.   By Dan Keeler   This past year has seen a stunning reversal in the fortunes of the world’s biggest banks. After a flurry of eye-popping write-offs ...

Preparing For The Worst   Multinationals are reassessing their business continuity plans as the global economic turmoil continues.   By Paula L. Green   In an increasingly intertwined business world with far-flung supply chains stretching across myriad time zones and ...

THE WORLD’S SAFEST BANKS 2009   Global Finance selects the world’s safest banks, the 50 institutions with the highest ratings from the leading international credit ratings agencies.   By Dan Keeler   After two tumultuous years that saw many of ...

A selection of Global Finance’s best bank awards from the past year.   BEST FOREIGN EXCHANGE PROVIDERS   BEST DERIVATIVES PROVIDERS   BEST SUB-CUSTODIANS   BEST ISLAMIC FINANCIAL INSTITUTIONS   BEST TREASURY & CASH MANAGEMENT PROVIDERS   BEST TRADE FINANCE ...

During one of the toughest years on record, the world’s central bankers were tested as never before.   Contributors: Gordon Platt, Antonio Guerrero, Anita Hawser and Dan Keeler   It is clear that 2009 is not a year on which ...

Roundup   By Antonio Guerrero   Trade between Africa and China is slowing Africa has emerged as one of the key casualties of the global economic slowdown, after newly released figures show its exports to China plummeted this year. Trade ...

Roundup   By Antonio Guerrero   Banco Santander floats its Brazilian operations in IPO Banco Santander in September launched a much-awaited IPO of its Brazilian unit, in a deal expected to raise more than $5 billion—one of the world’s largest ...

Roundup   By Thomas Clouse   WTO ruling forces China to lift import tax on car parts Despite witnessing a massive surge in lending, China will maintain its relatively loose monetary policy, China’s central bank says. Chinese banks granted 7.4 ...

Company To Watch: Dr. Reddy’s Laboratories/india   By GP   Hyderabad-based Dr. Reddy’s Laboratories, India’s second-biggest pharmaceutical company, is a major global supplier of generic drugs. It has developed a strategic plan to increase its market share in the United ...

Roundup   By Aaron Chaze   India faces water shortages as summer rains fail India’s farmers face another tough year as it becomes clear that the southwest monsoon, which usually provides 70%-80% of India’s annual rainfall, has failed this year. ...

Roundup   By Gordon Platt   Futuristic: Dubai’s new metro should ease traffic congestion Jordan and Iraq signed a free trade agreement in Baghdad on September 3 that will expand already fast-growing trade between the neighboring countries. Jordan’s prime minister ...

News   By Gordon Platt   Investors are pumping fresh money on a sustained basis into equity funds investing in emerging Europe, according to Cambridge, Massachusetts-based EPFR Global. In the week ended September 2, emerging Europe equity funds took in ...

Roundup   By Kim Iskyan   Workers survey the damage after August’s hydropower dam disaster The Russian economy continued to show signs that it was coming out of recession, as GDP posted growth of 0.5% compared with June on a ...

Dr News By GP A record of more than 72 billion American and global depositary receipts changed hands in the first six months of 2009, an increase of 14% from the same period a year earlier, according to The Bank ...

Turkish Banking   Turkey has a robust banking system that is ready to support the country’s economic growth.   By Gordon Platt   Tansan: “Turkey’s banks are the best in the world in terms of the strength of their capital ...

      By Gordon Platt Contributing Writer gplatt@gfmag.com     With a motivation for continuing reforms and a strong banking system, Turkey is well positioned to take advantage of the global economic recovery. Its strategic location and the security ...

WAITING IN THE WINGS   Egemen Bagis, chief negotiator, says the country’s reform efforts will pay off and admits that Turkey has made some mistakes in the past.   By Gordon Platt   Turkey somberly marked the 50th anniversary in ...

DYNAMIC GROWTH POTENTIAL     Turkey’s leaders have been actively promoting inward investment—with resounding successful results.   By Gordon Platt   Turkey is rolling out the red carpet for foreign investors, hoping to capitalize on its considerable growth potential once the ...

  LEADING THE WAY   At the presidential palace in Ankara on July 21, Turkey’s president, Abdullah Gul, met with Global Finance for a wide-ranging interview covering Turkey’s role in the global economy and its international relations.   Global Finance: ...

THE NEXT GREAT LEAP FORWARD   Ample liquidity and a bold government stimulus package have catapulted China past stumbling rival economies.   By Thomas Clouse   China is showing few symptoms of an economic crisis. While many of the world’s ...

Global Anita Hawser Hillier-Brook: Currency already has potential users The campaign to depose the dollar as the global reserve currency has grown significantly stronger with the publication of a United Nations Conference on Trade and Development (UNCTAD) report outlining the ...

Global   Gordon Platt   London: G-20 members agree to greater coordination The Group of 20 finance ministers and central bank governors agreed at a meeting in London on September 5 that it was far too early to begin unwinding ...

Global Equity/drs   By Gordon Platt   Brazil and China accounted for two-thirds of global capital raised through initial public offerings in the second quarter, with the United States and Europe lagging behind. The US market sprang to life in ...

Foreign Exchange   By Gordon Platt   As the global economic recovery gathers pace, the dollar is being undermined by the improvement in investors’ risk appetite. As US and other global investors seek higher returns in emerging markets and commodities, ...

Corporate Debt   By Gordon Platt   The strong rally in the high-yield debt market could be running out of steam, as the number of companies defaulting on their debts continues to rise, analysts say.   The US high-yield default ...

By Gordon Platt   Sovereign wealth funds could play a big supporting role as global mergers and acquisitions try to get back on track following a dramatic slowdown in M&A; activity during the credit crisis and global recession. While they ...

By Gordon Platt   Sovereign wealth funds could play a big supporting role as global mergers and acquisitions try to get back on track following a dramatic slowdown in M&A; activity during the credit crisis and global recession. While they ...

Honduras   Antonio Guerrero   Zelaya: Garnering interna tional supprt After Honduran soldiers stormed leftist president Manuel Zelaya’s home in June and he fled into exile, many speculated the Central American nation’s economy was poised for growth. After all, Zelaya ...

United States/Global   By Gordon Platt   Geithner: There should be no return to business as usual It looks like there could be significant reform of the global banking system after all. US Treasury secretary Timothy Geithner pushed for meaningful ...

Brazil   Antonio Guerrero   Palocci: Stillfacing more corruption allegatio ns Former Brazilian finance minister Antonio Palocci has won a political victory after the country‘s Supreme Court dismissed charges that he violated bank secrecy laws. The ruling could put Palocci, ...

United Kingdom   Justin Keay   Turner: City of London engages in “socially useless activity” A year has passed since the near implosion of the world’s financial system, and intelligent opinion in Britain remains divided between those wanting the City ...