Macroeconomy & Globalization

NEWSMAKERS | UNITED KINGDOM
From Washington to Madrid, there was a collective sigh of relief breathed around Western capitals when Scottish voters decided by a majority of 55% to reject the call for independence and remain part of the United Kingdom. For all those who did not want Scotland to secede, an unlikely hero had emerged in the form of Gordon Brown.

Global Finance presents its annual report on the performance of the world’s central bank governors.

AFRICA 2014 | UNITY
Africa’s dream of greater economic unity is gradually becoming a reality, with plans to establish a free-trade area spanning eastern and southern African countries well under way. Yet it could take time for the associated economic and trading benefits to play out.

AFRICA 2014 | INFRASTRUCTURE
From power plants and mining to tourism and railroads, new infrastructure projects are stimulating the growth of industries across sub-Saharan Africa.  

The central banker’s job today is certainly difficult. But it had better not be impossible.

Dear Reader
The annual meetings in Washington, D.C., of the IMF and the World Bank afford a unique mix of events where economic forecasts are made, meetings held, official statements delivered, and award ceremonies (including Global Finance's Best Banks) conducted.

Inside Sibos | Day 3
“Global Transaction Banking is the fastest growing unit in Société Générale,” says Christian Behaghel, head of GTB at Societe Generale. “It is a very stable business, and while we generate something like 6% of the total revenue of the bank, we are experiencing growth of our revenue of 10-15% a year.” This compares, he says to some areas of retail banking that have 0-2% growth a year.

Inside Sibos | Day 3
The increasing sophistication of Asian corporate treasuries to buoy the rapid development of Asian companies is a message that has been growing in resonance in recent years, and it is once again a topic of discussion at this year’s Sibos conference.
 

Inside Sibos | Day 3
This year’s Sibos event is set to see a greater focus on the use of technology to support trade. Since the launch of the Bank Payment Obligation (BPO), and the publication last year of the Uniform Rules for Bank Payment Obligation (URBPO) by the International Chamber of Commerce, adoption of the new instrument has been gradual—but across the industry there is increasing focus on how technology can be deployed in an area traditionally dominated by paper.

Inside Sibos | Day 2
“Honestly I am here more to learn than for any other reason. And to understand what the banking system can become,” notes Antonio Patuelli, president of the Italian Banking Association, discussing SWIFT’s Sibos conference in Boston.
 

Inside Sibos | Day 2
The Future of Money is once again a key theme of SWIFT’s annual Innotribe startup competition at this year’s Sibos conference in Boston. It dominated a number of discussions on the first day of the conference, and cryptocurrencies were in the spotlight.

Inside Sibos | Day 2

As this year’s corporate forum at Sibos gets underway, what topics are corporations particularly focusing on? This year’s line-up includes a discussion around corporate-to-bank connectivity and the associated challenges.

INDONESIA
Self-made businessman and former governor of Jakarta, Joko Widodo won Indonesia’s presidential election in July, marking the first time a candidate without ties to the military or a powerful political family has won the position.
 

TRENDS | DIGITAL CURRENCIES
Ecuador is gearing up for the launch of a new digital currency that will go into use as early as October alongside the US dollar, the country’s official tender.

SOUTH KOREA
Appointed as part of Park’s cabinet reshuffle——Choi had been on the job only a few days when he unleashed a $40 billion stimulus plan to revitalize the country’s faltering economy, a package equivalent to almost 3% of GDP. 

COUNTRY REPORT | EGYPT
Pressure is building on Egypt’s president, Abdel Fattah al-Sisi, to deliver economic gains. Falling investment and a sharp drop in tourist arrivals have weakened growth over the past three years. But a rapid return to pre-2011 expansion levels appears unlikely.

REGIONAL REPORT | CENTRAL & EASTERN EUROPE
Central European countries are starting to recover, with growth accelerating in most markets. But the region’s banks still have some trials to overcome.

BRAZIL
Brazilian president Dilma Rousseff will be running for a second term in October, and if she can keep her momentum going, there’s a good chance she’ll win.

TRENDS | SNAPSHOT: PANAMA

COUNTRY REPORT | TAIWAN
Taiwan’s bright fundamentals are underpinned by a revival in both export and import demand, but could a housing bubble be on the horizon?