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. 18, No. 8, September

Abbey Deal May Be Tip of Merger Iceberg
EUROPETwenty years ago Banco Santander was the smallest of Spain's top seven banks. Today its near euro40 billion market capitalization ranks Santander second among eurozone banks, just bebind BNP Paribas. Sautander's £8.05 billion acquisition of Abbey,...
Accounting Proposal Hits 'CoCo' Bonds
THE AMERICASProposed new accounting rules have put the damper on the issuance of a popular type of convertible corporate bond in the US market.The Financial Accounting Standards Board wants companies to treat so-called contingent convertible bonds, known...
All Eyes Continue to Focus on Yukos
RUSSIAThe Yukos affair continued to dominate headlines in Russia. After warning that Yukos would go bankrupt within a matter of weeks due to the Russian governments freeze on its assets, imprisoned former Yukos CEO Mikhail Khodorkovsky offered to surrender...
Argentina's Corporates Sidestep Sovereign Debt Debacle
As talks between Argentina's government and its creditors have turned more contentious, corporations have found better ways to overcome their debt woes.For Argentina's corporations these are frustrating times. Following the December 2001 Argentine peso...
Arrested Development
With their educated workforce and low costs, the Baltic states present some of the most interesting FDI opportunities in Europe. So why are they still struggling to attract investment?Two years ago, a British laboratory equipment manufacturer, Grant...
Beyond Compliance: When Risk Management Becomes a Competitive Advantage
More and more companies are appointing chief risk officers to manage risks throughout the organization. A few are embracing risk-management techniques to gain a competitive edge.What started as a trickle in the financial services industry a few years...
British Banks Take Flak over Equator Principles
UNITED KINGDOMJust one year after signing on to the Equator Principles, the UK's Royal Bank of Scotland (RBS) has found itself at the center of a storm over the environmental impact of a major project it is involved in funding. RBS is one of several...
Citigroup Launches Indexes Focused on Liquid DRs
THE AMERICASCitigroup introduced four regional indexes that track the worlds most-liquid depositary receipts.Known as the Citigroup Liquid DR Indices, they include only those companies that have US exchange-listed American depositary receipts or London-traded...
CLS Gathers Momentum
As more currencies join the CLS system, the risk-reduction benefits continue to increase.When the Continuous Linked Settlement (CLS) Dank went live in September 2002, it was largely viewed as n settlement mechanism that would benefit G-10 and OECD currencies....
Commercial International Bank Continues to Outperform
Stronger earnings growth and enhanced corporate governanceCommercial International Bank (CIB) Egypt S. A.E. is one of the country's largest and most profitable private sector banks. CIB's main activities encompass a broad range of corporate, investment...
Companies Told to Pull Their Sox Up
EUROPEWith the first Sarbanes-Oxley (SOX) deadline imminent, analysts and systems vendors paint a picture of companies struggling to comply with regulators' requirements for higher levels of visibility and transparency into company financiak SOX, with...
Dollar's Prospects Depend on Kindness of Strangers
THE AMERICASWhile the US economy continues to chug along at a respectable pace, the outlook for the dollar remains worrisome in light of the burden of financing the current-account deGcit, analysts say.The deficit is at an unprecedentcd level, while...
Evidence Increasingly Points to a Soft Landing
CHINARecent data suggest China's efforts to slow down its torrid economy have paid off. A cooling trend has become evident, particularly in fixed-asset investments and money supply. It is still unclear whether the broader economy will follow suit, as...
Financial Sector Adds Sparkle to Economy
Botswana is betting on its financial sector to diversify the economy.Since gaining independence from Britain in 1966, Botswana transformed itself from one of the world's poorest countries into a middleincome emerging market. The southern African nation's...
Going Stateside
News Corporation's decision to shift its operational headquarters from Australia to the US has sent shockwaves through the antipodean markets.In April the darling of the Australian Stock Exchange (ASX), Rupert Murdoch's News Corporation, announced its...
Latin America Boards the Beijing Express
LATIN AMERICA/CHINALatin American governments used to turn to the United States, their traditional trade and investment partner, for help in kick-starting their economies. However, the region has now set its sights on Beijing to seek support tor its...
Mixed Fortunes in Bank Sector
INDIAThe Indian banking sector saw the first collapse of a new-generation bank in July. The Global Trust Bank was one of the new private banks set up 10 years ago when the Reserve Bank of India (RBI) issued licenses to a handful of private sector organizations...
Open for Business
In its attempts to bring investment to India, the country's new government is facing a host of challenges. If it stays the course, its efforts should pay off.For years, the phenomenon that domestic and global corporations and fund managers worried about...
Risk and Reward
For many companies it took sonic considerable regulatory prodding before tbey recognized risk as something they could not only quantify, but that they could manage. Much like environmental awareness, risk management for most businesses was as much about...
Shell Pours Oil on Troubled Waters
NIGERIAIt remains to be seen whether Royal Dutch/Shell's move to appoint a Nigerian as head of its largest African subsidiary will soothe the labor anil ethnic groups who regularly threaten oil production in the volatile Niger Delta region. But analysts...