October 2017

The rosier outlook gives central banks a chance to return to more traditional policies after endless cycles of easing. The US Federal Reserve (Fed) is likely to stick to its plan of slowly increasing interest rates, and the European Central Bank (ECB) could follow suit.

Emerging markets could see funds flowing back to them as central banks unwind  quantitative easing and liquidity flows back to emering market assets.

Global Finance unveils its annual list of the best global banks. The winners of our best-bank awards, globally, regionally and in 150 countries, outperform their peers and provide top-notch service.  

The bank's CEO Jose Marcos Ramirez Miguel sees less risk now from revising the regional trade deal, even a "very positive impact" on Mexico's economy.

The bank's chief economist Rodrigo Aravena sees more growth for the country and the region although economic risks remain.

ING CEO Ralph Hamers talks to Global Finance about what it has taken for the bank to turnaround after the financial crisis, its digital strategy and the changes expected to disrupt the banking system in future.

Richard Nephew, a former principal deputy coordinator for Sanctions Policy at the US Department of State who now teaches at Columbia University, visited Global Finance to discuss economic sanctions, their effectiveness, and why corporate finance leaders should care.

In the following pages we explore some of Africa’s contradictions. Eighty percent of Africans are unbanked; at the same time seven of the world’s fastest-growing economies are in this region.

Africa is emerging from last year’s slump, but slow growth of its largest economies is impeding recovery for many of its corporates.   

African nations seek to scale the value ladder, moving beyond cheap labor and commodity exports. That takes steely commitment.  

Infrastructure and economic development needs are challenging countries to provide jobs, as urban growth is poised to surge over the next decade.      

With major multinationals scaling back in Africa, regional players of all sizes are embracing the opportunities left behind.  

The fintech sector is heating up across sub-Saharan Africa. Foreign investors are paying close attention and providing start-ups with the capital needed to get off the ground.  

Off-grid solar technology will be crucial to meet the energy needs of the 650 million Africans without reliable access to electric power.    

With a growing budget deficit, Brazil is struggling to climb out of recession and become globally competitive.

With the state-owned National Bank for Economic and Social Development ending its subsidized credit lending practice in Brazil,  state and private retail banks will have to step in to support the long-term credit market unlike at present.

India’s banking system, weighted toward state-backed entities, is opening up to private-sector banks to boost competition. 

The firm says the new headquarter would be as big as the existing offices in Seattle and will come with $5 billion in investment promising jobs for 50,000 employees.

Peru is expected to invest $1.5 billion in infrastructure for the games, including sporting facilities required by the International Olympic Committee (IOC) and at least 16 projects to improve chaotic traffic in the capital.

The country's wealth fund is the largest in the world with a staggering $1 trillion valuation.

Since becoming president in December, Shavkat Mirziyoyev has embraced the West, the IMF and the EBRD normalizing relations with the country after a 10-year freeze.

Emerging markets took 9% of the global total of $240 billion invested by private capital funds during the  the first half of 2017, the highest share since before emerging markets’ sudden fall from grace in 2011.

Priscillah Mabelane is the first black woman in history to head a multinational oil major.

Kåre Schultz will take over as CEO at a time when the pharmaceutical company struggles with competition, downward pressure on drug prices, expiring patents, rising operational costs, bribery investigations, fines and failed acquisitions.

David Knopf, 29 years old, represents a new breed of millennial executives who have risen up the ranks at global companies. 

Executives and institutions normally known for their big-ticket dealmaking and political pronouncements have taken on an almost activist stance in the aftermath of Hurricanes Irma and Harvey.

Improving the mortgage origination experience: Is blockchain the answer?

Ever since it became a bank holding company in 2008 to stay afloat in the financial crisis, the bank was urged by US Federal Reserve to rely more on ‘sticky’ consumer deposits to lower its risk profile.

According to various catastrophe risk-modeling services, estimates of the damage caused by Irma alone now range between $40 billion–$50 billion.

The company has changed plans to split into three separate companies following the merger between Dow Chemicals and DuPont.

The US administration cited national security concerns in following the recommendation of the Committee on Foreign Investment in the US (CFIUS), which could get new powers to increase scrutiny of deals by foreign buyers.

As costs rise in developing countries, and automation eliminates the most mindless tasks, some manufacturing and service businesses are going home—but with greatly reduced labor needs.

SPACs , created in the US in the 1990s to help financial sponsors raise funds more quickly in capital markets, had suffered, until recently, from a weak IPO market and several failed acquisitions.

Some of this year’s biggest deals include $20 million for Bahraini payment solution PayTabs, $3.5 million for Emirati finance-comparison platform yallacompare and $1.5 million for Emirati mobile-banking solution NOW Money.

Initial Coin Offering (ICO) that raise funds using digital currencies have come under regulatory fire in recent times.

The likes of Burger King in Russia have issued Whoppercoin, a cryptocurrency that enables customers to buy a signature Whopper burger.

The breach has put the personal data of 143 million people at risk of identity theft.

Shariah-compliant finance is growing in Turkey, and Ankara is planning new rules to help guide the market.

Turkey has become the world’s most generous nation, going from development assistance recipient to top donor in just over a decade.

The country's economy has proven remarkably resilient after a series of crises rocked the country.

Turkey’s banking authority BDDK said total banking assets had increased 7.3% since the end of 2016, reaching a total of $826 billion. 

As it accepts bailout money and conditions, Mongolia seeks to develop a long-term economic plan to reduce its dependence on commodities.