Macroeconomy & Globalization

Financial markets may initially have reacted well to the reelection of the AKP and prime minister Recep Tayyip Erdoğan, but his success belies deep-seated political and economic problems.

NEWSMAKERS By Valentina Pasquali Headed by 39-year-old prime minister Matteo Renzi, Italy’s new government is the youngest in the country’s history. But at the helm of the ministry of Finance is an official with a lot of stripes—the former chief ...

China’s leaders set out their policy priorities in March during the annual National People’s Congress, promising further reform while pledging to maintain the current growth rate.

MILESTONES By Tiziana Barghini Ranked 91st by the World Economic Forum for the relatively poor quality of its infrastructure, Peru is gaining importance on the international stage for its ability to attract capital. Its economic growth is expected to surpass ...

NEWSMAKERS By Efraim Chalamish When central bank governor Sanusi Lamido Sanusi announced in February that $20 billion in Nigerian oil revenues were missing from the till as a result of corruption, president Goodluck Jonathan responded promptly—by sacking Sanusi. Now not ...

Iceland’s Reykjavik Geothermal will launch a $2 billion project in July to build a power plant on an imploded volcano in Ethiopia’s Rift Valley. The plant, slated to begin operations by 2020, will have a generation capacity of 500 megawatts of electricity.

Getting rid of the “stan” on the end of his country’s name is just one of the many ambitions Kazakhstan’s leader has for his increasingly prosperous country.

MILESTONES By Justin Keay Not long ago, it would have been almost impossible to get the leaders of the various Western Balkan countries [Croatia, Serbia, Bosnia and Herzegovina, Montenegro, Kosovo, Macedonia and Albania] together in the same city—let alone the ...

Given the spate of recent fines by UK and US regulators against banks for failure to comply with anti-money laundering regulations, it’s worth exploring the question of why the banks keep coming up short. The most recent headline was the ...

MILESTONES By Tiziana Barghini Argentina has it tough. With GDP growth expected to fall to approximately 1.5% this year (compared with growth of more than 8% in 2011), foreign reserves at a seven-year-record low and an unofficial inflation rate well ...

MILESTONES By Valentina Pasquali The US Federal Reserve’s gradual withdrawal from the unconventional monetary policies of the past few years is causing panic across emerging markets, forcing central banks to raise interest rates in an effort to thwart ongoing capital ...

NEWSMAKERS By Anita Hawser One woman who worked hard to ensure that the wheels of global trade kept turning, even in the midst of the global financial crisis, was Bonnie Galat, global head of business development for trade and supply ...

EMERGING MARKETS ROUNDUP By Aaron Chaze For the first time ever, the Indian central bank, the Reserve Bank of India, is looking at setting a long-term inflation target as part of a new monetary policy mechanism, after interest rates were ...

By Laurence Neville Thirty-four developing countries—including all of the so-called Fragile Five nations—will have elections this year. Their results will be felt not only by other emerging economies but by global markets. At the end of January, panic gripped emerging ...

MILESTONES By Valentina Pasquali The referendum that could make Scotland an independent nation is fast approaching, and authorities in London are preparing for the eventuality that it might pass. The UK Treasury announced in January that “in all circumstances” it ...

MILESTONES   By Thomas Clouse   Bangladesh held national elections in early January despite escalating political violence and a boycott by opposition parties. The ruling party, the Awami League, easily kept control of parliament, with its candidates winning 232 of ...

CORPORATE FINANCING NEWS   By Gordon Platt   The value of global mergers and acquisitions has failed to pick up, despite low interest rates and an improving global economy. Worldwide M&A totaled $2.4 trillion in 2013, a decline of 6% ...

SPECIAL REPORT   By Anita Hawser   To be or not to be? Compliant, that is. Apparently, the answer is it doesn’t matter—at least not yet. Just a few weeks before the February 1 SEPA deadline came to pass, the ...

MILESTONES By Forrest Jones Few things polarize policymakers like free-trade agreements, especially the North American Free Trade Agreement (NAFTA) linking the United States, Canada and Mexico. Critics of the agreement feared it meant jobs and industries would relocate to underdeveloped ...

MILESTONES By Valentina Pasquali Ever since Raúl Castro took over from his brother Fidel in 2008, he has been opening up Cuba’s struggling centralized economy. Though the ongoing liberalization process is gradual and aimed at preserving the political status quo, ...