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. 23, No. 3, March

A Bridge to Recovery
Policymakers are pouring money into infrastructure projects in an attempt to head off economic disaster.All aspects of infrastructure will be on the rise in 2009, as the United States and other governments around the world try to spend their way out...
Banks and Multilaterals Step in to Boost Trade
BRAZILWith commodity prices plummeting from last year's highs, Latin American governments are seeking ways to support their trade sectors as part of their economic stimulus plans. Strong export revenues had supported economic growth in recent years,...
Big Providers Tough It Out
As equity derivatives have taken a pounding in recent months, many of the smaller players have abandoned the market. The industry's giants are still offering tailored products for their clients, though.I the months following the near collapse of the...
Brazil
The Petrobras state-controlled oil company sold $1.5 billion of 10-year bonds on international markets in February. The deal, which carries a 7.875% coupon, was managed by HSBC, JP-Morgan Chase and Santander and was issued through the company's Petrobras...
British Authorities Set out to Chart Post-Credit-Crunch Landscape
UNITED KINGDOMBritain's battered banks-reeling from plunging share prices and ever-worsening subprime losses - face a major overhaul in the way they are regulated. Britain's unified regulatory body, the Financial Services Authority (FSA), is to publish...
China
China's economic growth is tailing off as feared. Al- though annual growth in 2008 was 9%, fourth-quarter growth slowed to a seven-year low of 6.9% year-on-year, according to preliminary estimates from China's National Bureau of Sta- tistics. For the...
Corporate Europe Set for Equity Rush
EUROPEWith headlines dominated by bank bailouts totaling billions of dollars, it's easy to get blasé about the scale of the challenge facing the global economy. Nevertheless, a new report from Goldman Sachs has caused a stir with a warning that European...
Dollar Remains Strong amid Global Turmoil
Weak economic data from the eurozone, heralding further interest rate reductions in Europe, are helping to keep the dollar strong. Meanwhile, Japan's worsening trade statistics are raising warning signals about the high-flying yen, analysts say.The yen...
Etihad Atheeb IPO Ends Long Saudi Drought
Etihad Atheeb Telecommunication, one of three new fixed-line operators in Saudi Arabia, broke the long drought in initial public offerings in the kingdom, with an IPO for 30% of its capital.The $80 million public offering, completed in early February,...
Fed's Easing Policies Beginning to Work
Corporate debt markets in the United States have begun to function more normally, and the money supply is expanding rapidly, showing that the Federal Reserve's credit-easing policies may be working, analysts say.The Barclays Capital Credit index of investmentgrade...
FX Update
Will China lose its appetite for US government debt?In a world where the growth of FX reserves and sovereign wealth funds is slowing to a crawl, the last thing the US would wish to do is upset one of the largest holders of US paper. However, this may...
Hard Landing
Central and Eastern Europe has suffered more than most regions as a result of the credit crunch. Some are concerned that economic turmoil may lead to social unrest.With their own economies in disarray and the prospect of their primary markets in Europe...
India
The Indian government revised its foreign investment policy guidelines in mid-February, with a changed methodology for computing foreign equity holdings in Indian companies. According to the new guidelines, any equity held by an Indian company (defined...
It2
Client profile: By location: Global. By size: $500 million - $50 billion.Capabilities/services: IT2 provides complete international and domestic treasury management system solutions, fully integrated with third party systems. The IT2 system is modular...
Middle East
King Abdullah bin Abdul Aziz of Saudi Arabia shook up his cabinet in February, appointing a new central bank governor, as well as new education, justice, information and health ministers and naming a woman as a deputy minister for the first time ever....
Obama Targets Climate Change
UNITED STATESWith a new line-up of officials steering Washington's environmental and energy policies for the next four years and global talks under way to iron out a successor pact to the carbon-capping Kyoto Protocol, chief executives and their financial...
Pfizer-Wyeth Merger May Set off A Wave of Consolidation
CORPORATE FINANCING FOCUSThe credit crunch has not put an end to major acquisitions by well-run companies that have a compelling strategic plan and a pile of cash. New York-based Pfizer, the world's biggest drug maker, agreed in late January to pay $65...
Revisiting NAFTA
Calls to renegotiate Nafta are growing louder, and as the three member countries economic travails deepen, the arguments for a revision are gaining ground.The economic crisis that began in the United States has had a dramatic effect on economies around...
Russia
The Kremlin rolled out a revised version of its economic crisis plan, extending additional credits to the beleaguered banking sector possibly at the expense of direct loans to the Russian corporate sector. Meanwhile, the ruble, which has lost a third...
Santander Loses Face in Latin America
LATIN AMERICASpanish banking giant Santander is struggling to contain the fallout from the more than $3 billion loss its clients sustained through the bank's investments in funds linked to disgraced New York fund manager Bernard Madoff. The bank has...
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 Invoice and Payment is the leading enterprise solution for streamlining invoicing and reconciliation...
Survival Instinct
Cyprus' leaders are tackling head on the challenge of maintaining economic growth during the current global downturn.Cyprus has experienced more than its fair share of ups and downs in recent months. Its banks have been able to sidestep the worst effects...
The Party's Over
Once considered relatively immune to the global economic slump, Latin America is facing hard times as commodity prices crumble, trade dwindles and Venezuela's oil-funded regional largess begins to dry up.For the past few years, Venezuela has been the...
Unlocking Value in Your Supply Chain
Key to our approach to innovation is a steadfast commitment to our clients' needs.In today's increasingly competitive business environment, developing solutions to facilitate a higher level of process efficiency is fundamental. Because Citi's treasury...
World's Best Treasury Providers 2009
With the continuing turmoil in the world's financial markets and an ongoing increase in risk aversion, the face of the treasury and cash management industry is changing rapidly. The crisis has certainly leveled the playing field in terms of those banks...