Global news and insight for corporate financial professionals
According to the World Bank, Indians living abroad—known in economist-speak as Non-Resident Indians/Persons of Indian Origin (NRI/PIO)— sent home $70 billion in 2012 , which makes the country the world's largest recipient of remittances. Many Indians send money to loved ...
IMF/World Bank Meetings Seminar, Thursday, October 10, 4:00 pm. Five years after the peak of the Great Recession, growth remains anemic (or negative) across most of Europe and unemployment, especially among young people, has reached unacceptably high levels in all ...
IMF/World Bank Meetings Seminar: Wednesday, October 9, 10:00 am . In response to the 2008–09 global financial crisis, advanced economies have conducted a variety of unconventional monetary policies (UMPs). These aimed to restore the functioning of financial markets and intermediation ...
IMF/Word Bank Meetings Seminar: Thursday, October 10, 2:00 pm. Global growth has softened again. Downside risks have become more relevant. The euro area remains in recession with risks of stagnant growth and with financial fragmentation continuing to restrain credit. Other ...
IMF/World Bank Meetings Seminar: Wednesday, October 9, 2:00 pm. Emerging markets have for some time played an important role on the global economic stage and are a major driver of global growth. More recently, a second group of countries—the so-called ...
IMF/Word Bank Meetings Seminar: Tuesday, October 8, 3:00 pm. Emerging markets (EMs) are playing an increasingly important role in the global economy, and they now account for nearly half of global output. More recently, however, growth in most EMs has ...
Croatia becomes 28th member of the EU In 2004, when nine former Communist countries joined the EU, there were widespread celebrations at what was seen as the formal end of the Cold War. Three years later the two largest Balkan ...
The Impact Of Rising Prosperity On Economic Growth Growth in the world’s economy is moving large numbers of people out of poverty, and if the trend continues, the shift will be dramatic in many countries by the end of ...
MILESTONES: RUSSIA/CYPRUS By Kim Iskyan As the Cypriot banking sector imploded in mid-March, Russia, for which Cyprus is an offshore financial services center, was expected to step in and help. But when Moscow decided to keep its wallet in its ...
TRANSITION AND TRANSFORMATION By Valentina Pasquali Saad Mohseni is the chairman of Moby Group, Afghanistan's largest media conglomerate. Mohseni founded the company in 2002 upon returning home to Afghanistan after the fall of the Taliban. Global Finance: What ...
RESILIENCE UNDER PRESSURE By Denise Bedell Gerald Hassell is chairman, president and CEO of the Bank of New York Mellon. The bank, which focuses on investment management and investment services, has $26.6 trillion in assets under custody and administration, ...
TURBULENT TIMES By Gordon Platt Ibrahim Dabdoub has been CEO of National Bank of Kuwait since 1983. Global Finance: What are the key risks over the next 5, 10 and 25 years? Ibrahim Dabdoub: As a banker, I ...
SUSTAINING THE MIRACLE By Anita Hawser Mike Rees, CEO, wholesale banking, Standard Chartered, discusses the risks and opportunities for emerging markets going forward, and China's economic transformation. Global Finance: What key events have shaped the current global economy? ...
REVOLUTION By Laurence Neville The scale of the crisis that has engulfed much of the world since 2008, which—like a virus—has mutated from a financial sector crisis to an economic crisis to a sovereign debt crisis, is so great ...
SUCCESSES By Laurence Neville A quick glance at the Fortune 500 for 1987 and 2012 reveals a number of similarities in the ranking of the largest companies in the US: ExxonMobil, GM, Ford, GE and AT&T all feature prominently ...
SEARCHING FOR STABILITY By Denise Bedell James K. Galbraith is a well-known economist and author of a number of books, including The Predator State and Inequality And Instability. He spent much of his career helping to shape US and ...
DISINTERMEDIATION AND GLOBALIZATION By Thomas Clouse Piyush Gupta is CEO of Singapore's DBS Group Holdings and DBS Bank. Global Finance: What have been the key financial trends since 1987? Piyush Gupta: On a global level, disintermediation, not just ...
THE BIG PICTURE By Anita Hawser Herbert Stepic is the chief executive officer of one of the largest banking organizations in Central & Eastern Europe, Raiffeisen Bank International. Global Finance : What are the key events over the ...
THE HUMAN FACTOR IN ECONOMIC THEORY By Justin Keay Traditional economic theory has been challenged by recent market events in global financial markets, and that challenge has given rise to a new generation of economic soothsayers who are looking ...
EVOLUTION By Laurence Neville Perhaps the defining characteristic of 2012—in contrast to 1987 when Global Finance launched—is the interconnectedness of the world. Globalization spreads ideas and connects markets Those in the US now have more in common with ...