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. 24, No. 6, June

Africa
Nigeria has secured a $915 million concessionary loan from the World Bank to help the government fund infrastructure development projects. Funds will be drawn between 2010 and 2015, though the government may tap no more than £180 million this year. The...
Best Investment Banks 2010
Earnings from investment banking have helped major financial institutions return to profitability, but the rules of the game are changing.Major banks reported hefty gains in first-quarter 2010 profits, with a powerful assist in most cases from their...
BNY Mellon Enhances Multi-Currency Payments Platform
An interview with Frank Pusateri, managing director and regional head of corporate FX sales, BNY MellonGlobal Finance: BNY Mellon is well known for the e-commerce service offering you provide to the global asset management industry, but what services...
Brazil
In what is ranked as one of the largest acquisitions ever by a Norwegian company, Norway's Norsk Hydro aluminum producer signed a $4.9 billion deal to acquire the aluminum business of Brazil's Vale, Latin America's largest iron ore exporter. The Norwegian...
Canadian Corporates Benefit from Early Recovery
With the US recovery still on shaky ground, Canada has seen growth spike, debt markets open wide for Canadian corporates and strong interest from foreign investors in both traditional debt and infrastructure project finance.The Canadian economy has surged...
China
China's consumer prices rose by the greatest margin in 18 months in April, while property prices increased by the fastest rate since the country began publishing the data in 2005. According to China's National Bureau of Statistics, consumer prices increased...
China and India's Competition for Resources Causing Rise in Cross-Border Acquisitions
Corporate Finance FocusMergers and acquisitions in emerging markets are heating up, and China and India are at the center of a bidding war for global resources, especially energy and metals, that is boosting cross-border deals. M&A transactions involving...
Core Values
Corporate Social ResponsibilityCompanies at the cutting edge of corporate responsibility are weaving their citizenship efforts into the strategic heart of the business.In the decade or so since the phrase "corporate social responsibility" fmt began to...
E-Invoicing Finds Favor Again
Companies are taking a second look at electronic invoicing as they begin to evaluate longer-term efficiency and cost reduction programs for the financial supply chain. By Denise BedellWith the treasury and cash management technology market maturing and...
Enabling Efficiency
Welcome to the first Technology & Treasury Management Supplement Global Finance has published. We recognize that technology has always been a key enabler of treasury management, with treasury management workstations and enterprise resource planning...
Facing Up to the Challenge
The fast-growing and dynamic economies of the emerging and frontier markets represent mouth-watering opportunities and daunting challenges for the world's established multinationals. Only the best prepared will survive.Humbled by the recent recession,...
Getting Serious about Software as A Service: The Need for A Comprehensive SaaS Strategy
If a financial institution were a living being, information technology would comprise the nervous system, cardiovascular system, and digestive tract. In other words, without IT, the modern financial institution would likely be dead. This dependency on...
Greek Debt Crisis Morphing into Euro Problem
The nearly $1 trillion plan to defuse Europe's debt crisis headed off speculation in credit default swaps, bank equities and bond spreads, but there remains one avenue of attack - the euro. The single currency rallied briefly in response to news of the...
India
The Indian government is planning to establish an $11 billion infrastructure debt fund with the objective of investing in the power sector and in roads and ports. The fund will issue debt in order to refinance existing lending institutions. Funding is...
Investment Floods Back to Latin America
Latin AmericaFollowing a hefty 42% yearon-year drop in FDI in Latin America last year, investors appear to be showing their faith in the region's economic recovery and making their return. According to a report from the United Nations Economic Commission...
IPOs Pulled Following Market Declines
A sharp drop in world equity markets triggered a host of cancellations and postponements of planned initial public offerings in early May. Many of the proposed IPOs will remain shelved for an extended period until confidence is restored to the markets,...
Islamic Financial Institutions Awards 2010
Islamic financial institutions were not immune to the turmoil of the past two years, but their strict ethical code helped them prosper in many areas where others foundered.The world of Islamic finance has not been immune from the travails of the international...
Issuance Ebbs in Volatile Market
Reverberations from the debt crisis in Greece rattled through the corporate debt market in early May, causing extremely volatile conditions that disrupted what had been a record flow ot new offerings. Investment-grade issuance nearly ground to a halt...
Market Forces
A centralized approach to Islamic finance is helping Asia develop an industry that may challenge the Middle East as the global hub.The Middle East is often thought of as the spiritual home of Islamic financing, and for good reason. According to some...
Montenegro Aims to Be the Next Mediterranean Tiger
MontenegroMost small Europea!] countries are still suffering in the wake of the recent downturn, with foreign direct investment (FDI) and trade contracting as investors hold back and most importer nations seek to reduce their deficits Montenegro, however,...
New Solutions
Treasury modules offered by enterprise resource planning systems providers are threatening full-suite treasury systems. By Denise BedellAs companies focus more on cost savings, there is an equilibrium that must be maintained between reducing spend on...
Obama Administration Continues Export Drive
United StatesThe Obama administration has set a goal of doubling US exports in the next five years and announced the development of the Export Promotion Cabinet and the National Export Initiative (NEI) to coordinate export reform and expansion efforts....
Private Equity Focuses on Emerging Opportunities
Emerging MarketsWhile developed markets flounder in a post-crisis quagmire of sovereign debt, developing markets are enjoying much better times - and private equity investors have taken note. According to the International Finance Corporation, the private...
Rating Upgrade Vindicates Morales's Policies
BoliviaWhile many international investors have grown to distrust Bolivian president Evo Morales, a socialist who nationalized the hydrocarbons sector and telephone company, it appears he has been doing some things right on the financial front. S&P...
Regional Resurgence
West AfricaA flurry of bond issues illustrates the growing confidence west Africa's nations have in their economic and political futures. Nigeria and Côte d'Ivoire are leading the way.The contrasts in west Africa are huge.At one end of the scale is oil-rich...
Responsible Corporations Gain Legal Protection
United StatesFor companies that aim to always be socially and environmentally minded, achieving growth without giving up that goal can be difficult. But a new designation signed into law in Maryland should make it a little easier for companies to hold...
Russia
During a late April trip to Washington, DC, first deputy prime minister Igor Shuvalov said that Russia would abandon its plan to try to join the World Trade Organization as lrart of a customs union formed with Kazakhstan and Belarus earlier in 201 0,...
Russia Taps Global Markets for First Time in 12 Years
RussiaRussia tapped global fixed-income markets in late April in a highly anticipated issue divided into a $2 billion hve-year tranche and a $3.5 billion 10-year tranche. The deal, which closed just days before spreads widened sharply on the back of...
Supplier Financing: Global Solutions for Global Needs
Corporates should think carefully when choosing a provider to deliver a confirmed payables solution, as not all have equal capabilities, says Rick Striano, director and regional product head of Americas trade and financial supply chain, Global Transaction...
Technology's Role in Increasing Efficiency
An interview with Manish Jain, managing director, electronic channels, Global Transaction Services, CitiGlobal Finance: What are the areas of focus for corporates in the current financial environment?Manish Jain: The global economic crisis continues...
Trading Up
Technology is revolutionizing foreign exchange trading and providing ever-increasing opportunities in the world's biggest financial market.Electronic trading has revolutionized markets. In the equities markets, algorithmic trading platforms, high-frequency...