Emerging Markets

COUNTRY REPORT: THE PHILIPPINES The Philippines seems to be avoiding the worst of the global market slowdown, but there have been a few hiccups along the way.   The financial Makati district in Manila is not feeling the pinch of ...

THE ELEPHANT AND THE DRAGON   Often uneasy neighbors and fierce competitors, India and China are finding ways to cooperate as their influence on the global economy grows.     India's prime minister Manmohan Singh and China's premier Wen Jiao ...

ANALYSIS Deft maneuvering is helping Russia’s banks dodge the fallout from the credit crunch, but significant risks remain—particularly for smaller banks and their customers.     While the crises at UK mortgage lender Northern Rock and US investment bank Bear ...

DR NEWS   Zhaikmunai, an independent oil and gas exploration business based in Kazakhstan, has concluded the first-ever listing of global depositary receipts on the London Stock Exchange by a limited partnership. Zhaikmunai raised $100 million in its offering last ...

BRAZIL     Brazilian mining giant Vale walked away from Xstrata acquisition talks. Vale, the Brazilian mining giant formerly known as CVRD, decided to walk away from its proposed $90 billion acquisition of Swiss miner Xstrata after both sides failed ...

RUSSIA     Putin: He may find it hard to play second fiddle. With relations between Russia and the West at post-Cold War lows, US president George Bush met with Russian president Vladimir Putin in early April in Sochi, Russia, ...

AFRICA     Botswana's new president, Seretse Ian Khama. Economic growth in sub-Saharan Africa is set to continue strongly this year, according to the International Monetary Fund, which says the region is “better placed today to withstand a worsening of ...

INDIA     Indian automobile manufacturers are scaling up production, unfazed by rising inflation. The Indian commerce ministry has announced that it has set India’s export target at $200 billion for 2008-2009. This export target is a part of India’s ...

ANNUAL SURVEY / BEST EMERGING MARKET BANKS In our 15th annual survey of top banking performers in emerging markets, we name those banks that are consistently providing high levels of service in fast-evolving markets.   Download PDF (2 MB) The ...

NEWS   The Overseas Private Investment Corp. (OPIC), a US development finance organization, has committed up to $100 million in initial funding for a sub-Saharan debt fund to be managed by Standard Bank of South Africa. The Standard Africa Development ...

PERU     Peru's president Alan Garcia: Fiscal policies led to upgrade. While analysts debated whether Brazil or Panama would win the race to become the next Latin American investment-grade-rated country, Peru beat both countries to the finish line. Citing ...

Panama     Digging in: Work is now under way on the $5.25 billion expansion of the Panama Canal. Although Brazil appears poised to become Latin America’s next investment-grade-rated sovereign, a tiny country may beat the giant to the punch. ...

China         Chinese students prepare for this summer's Olympics in Beijing.   China will more strictly examine applications from listed companies to issue new shares on domestic capital markets, the China Securities Regulatory Commission announced after the ...

Company To Watch: Ioi/malaysia         Palm oil prices have almost doubled in the past year on rising demand from China and India and increased use of crude palm oil as an alternative energy source. Kuala Lumpur-based IOI, ...

Dr News         African issuers of global depositary receipts could benefit from the fact that they are remote from the effects of the US-centric credit crunch, says Stuart Matty, partner at White & Case, the law firm ...

The Middle East Prudent investment of vastly increased oil revenues and a determination to build stable financial foundations are helping transform the Middle East into one of the world’s most vibrant economic areas. The DIFC in Dubai: One of the ...

Middle East As Islamic bonds become more popular, banks are creating a viable secondary market.   Emirates Islamic Bank: Reaping the benefits of a surge in business. Asurge in the issuance of sukuk, or Islamic bonds, and growing demand from ...

India         ICICI Bank: One of the Indian banks repurchasing bonds.   Indian banks and corporate bond issuers in international markets are taking advantage of the widening credit spreads and tightening liquidity conditions in global bond markets ...

Middle East Lebanon’s banks are spreading their wings as they push for more growth in the Middle East’s key markets.   Banks in downtown Beirut: Lebanon's financial institutions are expanding through the region. While the banking sector remains the backbone ...

SPONSORED ROUNDTABLE   At a roundtable in Istanbul, Global Finance brought together Turkey’s central banker and other leading figures to discuss the prospects for the country’s economy.   GLOBAL FINANCE: The Turkish government seems to be redoubling its efforts to ...