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. 22, No. 3, March

A New World View
As Global Finance was going to press, Venezuela's president Hugo Chávez was squaring up for a showdown with the United States. Chávez has been spoiling for a fight with the US pretty much ever since he was first elected as president in 1998, and it looks...
An Island in the Storm
Cyprus is hoping that its recent adoption of the euro will help it better survive-and perhaps even thrive-during the coining global turbulence.While many of the world's smaller nations are wondering how they will cope with the slowing US economy, the...
Continental Shift
Latin American governments' attempts to gain more control over their countries' economic fortunes are having far-reaching effects on international corporations doing business in the region.A decade after winning the presidency of Venezuela for the first...
CORPORATE FINANCING FOCUS: Looking across the Abyss, CDOs Will Come Back in Simpler Form, Some Market Participants Say
While financial engineering has been tarnished in the current credit crunch, market participants say collateralized debt obligations (CDOs) and other forms of securitization have their place in a modern financial system and will come back strong once...
Dollar's Fall since 2000 Could Be near an End
Analysts are beginning to watch for signs of a solid bottom for the dollar, following its long-term decline since September 2000. The dollar's multi-year decline is nearing an end, and the greenback already may have hit bottom against the Canadian dollar...
Enhancing Your Payments with Prepaid Solutions
In today's fast-paced and competitive business environment, companies are looking at every way to streamline their operations, reduce costs and increase effectiveness. They will spend countless hours cutting budgets, reorganizing resources and reducing...
Foreign Banks Eye Brazil's Market
Local banks' stranglehold on the Brazilian market is coming under threat from acquisition-hungry international banks and investors.With consumer lending at all-time highs and set to grow more, Brazil's biggest banks are enjoying a heyday of growth and...
Foreign Investment Limits Tumble
INDIAIn its bid to keep up the growth momentum in the Indian economy, the Indian coalition government lifted investment restrictions on foreign investors in a number of sectors, including aviation (cargo and charter airlines and helicopter services),...
FX Update
FX Update: A Change in Market FocusJanuary 2008 was a volatile month for financial markets. Global equity markets plunged on the announcement of further bank writeoffs and on incoming data signaling the imminence of a US recession. However, with Europe...
Hot Topics in Trade Finance: Managing Risk in the Global Payments Economy
Today, more than ever before, ensuring your company will remain viable as it seeks to enter into-or stay ahead in-the international marketplace is crucial. The ability to widely execute trade payments, enhance revenues and mitigate the inherent risks...
India's Biggest IPO Ever Is First of 35 This Year
Mumbai-based Reliance Power raised $3 billion in January in India's largestever initial public offering. The shares sold represented a 10% stake in the company, which aims to provide electricity to power the country's fast growth but which so far doesn't...
Israel Loosens Investment Restrictions
ISRAELIsrael's minister of finance Ronnie BarOn has approved a legislative amendment that will enable foreign portfolio management companies to serve Israeli clients and operate in Israel without the need to obtain a local license. The initiative is...
Mexico Exchange Prepares for a Sell-Off
MEXICOAfter last year's blowout initial public offering by the São Paulo Stock Exchange (Bovespa), which raised $3.6 billion, the Bolsa Mexicana deValores (BMV), the Bovespa's Mexican counterpart, is following in its footsteps. BMV shareholders-the country's...
Microsoft's Bid for Yahoo Gets M&A Back on Track
Apart from the ongoing consolidation in the financial services industry, January was an extremely slow month for mergers and acquisitions. That all changed quickly on February 1, however, with Microsoft's $44.6 billion bid for Yahoo.Microsoft's chief...
Miner Eyes Record-Breaking Deal
BRAZILBrazilian mining giant Vale (formerly CVRD) is in talks to acquire Swiss mining company Xstrata, reportedly for $90 billion. The deal would be the single largest cross-border acquisition by a Latin American company. Vale may be considering issuing...
Neighborhood Unrest
Mexico's recent economic progress could be derailed by turmoil in the US economy and the outcome of the US presidential election.The last time the US economy posted a slowdown, after the 2001 terrorist attacks, the Mexican economy contracted by 0.2%,...
Opportunity Play
Sovereign wealth funds snap up bargains in one of the biggest financial industry land grabs in history.To say Citi and Merrill Lynch-two Wall Street powerhouses better known for their blue-ribbon credentials and financial smarts than for bleeding red...
Profits of Doom: Exxon Mobil Causes Uproar
UNITED STATESA long-simmering debate boiled over last month after Exxon Mobil reported the highest earnings ever by an American corporation, topping its own record set the year before. Most Americans were paying substantially more than $3 a gallon for...
Riding A Growth Wave
Growth in world trade spurs demand for financing of ships and terminals.The global shipping business is sustaining its strong forward momentum, thanks to the fast growth of world trade. Shipowners are making good profits and are placing orders for bigger...
Roaring Economy Boosts State-Owned Companies' Profits
CHINAChina's economy grew 11.4% in 2007, its fastest rate in 13 years. Fourth-quarter GDP growth fell to 11.2% year-onyear, however, as government tightening measures and weakening global demand began to weigh on the economy. This is the fifth year in...
Software Providers
Global Finance presents its annual guide to the key products and technology providers in the treasury and cash management space.ARIBACapabilities/services: Ariba EIPP is the leading enterprise solution for streamlining invoicing and reconciliation to...
Taking Shariah-Compliant Financing into the Mainstream
UNITED KINGDOMWhile many Western banks may be struggling with liquidity and funding issues, Middle Eastern banks, awash with liquidity, are increasingly making their presence felt in Western financial markets. One such bank is Qatar Islamic Bank (QIB),...
Taxing Times for a New President
GUATEMALAJust weeks after being sworn in on January 14 as the new Guatemalan president, Alvaro Colom-the Central American country's first left-of-center leader since Jacobo Ârbenz, who was overthrown in a United States-assisted coup in 1954-is facing...
US CEOs MAY FACE EURO-STYLE PACKAGES
UNITED STATES/EUROPEWith corporate fat cats' earnings increasingly in the spotlight, particularly in these credit-challenged times, it appears that CEO remuneration packages vary markedly depending on which side of the pond they are on. According to...
Us Wakes Up to Economic Benefits of Clean Energy
UNITED STATESUS president George W. Bush may not have signed the Kyoto Protocol for reducing carbon dioxide emissions, but with consumers feeling the pinch of high oil prices with conflict in the Middle East disrupting global oil supplies, increasingly...
World's Best Treasury Providers 2008
Global Finance selects the best treasury and cash management banks, globally and by region, and the best providers or treasury management systems and services by category.The past year has seen the challenges facing treasury and cash management providers...