Global Finance

A monthly publication providing news and analysis of global market and economy. Focuses on corporate finance, capital markets, and more.

Articles from Vol. 17, No. 4, April

13th Annual Custody Buyer's Guide
The long-awaited next phase in consolidation in the global custody industry has finally arrived. Deutsche Bank finally acknowledged it was not going to achieve the critical mass and profitability that it needed from the business and sold out to State...
After Russia's Unfinished Revolution
Unprecedented political stability and surging hydrocarbon exports have provided a platform for a remarkable recovery from the depths of Russia's 1998 crisis, but structural problems linger. On February 11, UK oil giant BP announced it was investing $6.75...
Banking Sector Wrestles with Change
"Water, water everywhere, nor any drop to drink." -Samuel Taylor Coleridge, The Rime of the Ancient Mariner Banks lend; companies and individuals borrow. That's a banking maxim that works throughout the world but only it seems snoradically in Russia....
Battle for Control
COVER STORY RUSSIA For all the talk of foreign investment returning to Russia, this is still a game being played out more in the boardroom than on the trading floor. By Mark Johnson If the freewheeling, anything-goes days of Russian capitalism are largely...
IAS 39 Raises Accounting Row
ACCOUNTING FOCUS HEDGES It's a little bundle of letters and numbers, but it's creating an awfully big stink. Those who set accounting standards met with their critics in March to discuss proposals to transform the way that companies report their financial...
Mergers Make Slow Comeback
Caution is the watchword in a sluggish market for corporate takeovers. Throughout last year, observers of international M&A predicted a bounce-back in deal volumes. It didn't happen. According to data providers Thomson Financial, global announced...
South Africa: Long-Delayed Telkom IPO Finally Makes It to Market
Telkom, South Africa's state-controlled telephone and wireless operator, listed its shares on the Johannesburg and New York stock exchanges on March 4. The long-delayed partial privatization included an unusual pricing scheme. Members of a group of South...
The Americas: Canadian Dollar Turns Suddenly Popular
Rising interest rates, solid economic growth, a big trade surplus and strong commodity prices propelled the Canadian dollar sharply higher in March. Why did the long-hapless loonie, as the Canadian currency is known, suddenly become the darling of foreign...
The Americas: Devon Energy Moves into Deeper Water
CORPORATE FINANCING NEWS MERGERS & ACQUISITIONS Oklahoma City, Oklahoma-based Devon Energy agreed to merge with Ocean Energy of Houston,Texas, in a $5 billion stock-swap transaction.As a result, Devon Energy will become the largest US-based independent...
The Man Who Wired Russia
CEO INTERVIEW ANATOLY KARACHINSKY A Russian programmer spotted a gaping hole in the market. First, let's get the cliches out of the way. Anatoly Karachinsky is no `Russian Bill Gates', nor yet the `oligarch of tech'. The 42-year-old president and CEO...
Turkish Dilemma
DEAR READER Pity poor Recep Tayyip Erdogan. No sooner does he finally haul himself into the hot seat as elected Turkish premier than he finds himself caught between the urgent blandishments of an ally and the all-too-- clear feelings of the people who...
United States: Wirless Technology Provider Tries to Forge New Market
COMPANIES ON THE MOVE FLARION TECHNOLOGIES "The global slowdown has helped us. Carriers are used to buying from providers that cost five times more." -Mike Gallagher, Flarion Flarion Technologies is a company without any revenues and without any paying...
World's Best Treasury and Cash Management Providers
ANNUAL SURVEY TREASURY/CASH MANAGEMENT Global Finance selects the world's best. The real-time global settlement process took a major leap forward in September 2002, when the CLS Bank went live, netting positions in a five-hour window in each 24-hour...