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. 11, No. 6, June

A Market Where Being Number 2 Would by Nice
Three major contenders are jostling for a good starting position in the deregulated Italian telecom market. But there is probably room for only one more all-around player. mid the worldwide frenzy to gain ground in the high-stakes telecommunications...
Amenities (and Financing) American Style
A $500 MILLION EXPATRIATE HOUSING PROJECT IN SHANGHAI AIMS TO GROW INTO A NYSE-LISTED COMPANY. How do you raise $500 million for a housing development in a risky country like China? For Barry Hansen, president of Sealand Housing Corporation, the answer...
Can a Bad Rap Stick?
NEW STUDIES SHOW CURRENCY MANAGEMENT IS ACTUALLY A NEGATIVE. OVERLAY SPECIALISTS SAY THEY'RE AN EXCEPTION. A new study by InterSec Research finds that in the long run currency management by managers benchmarked to EAFE "is generally a negative." That...
Clever Protesters, Cleverer Privatizers
IN SELLING CONTROL OF ITS LARGEST COMPANY, CVRD, THE BRAZILIAN GOVERNMENT FIGURED OUT HOW TO COUNTER THE MOVES OF A HAVOC-RAISING OPPOSITION. THE SALE WAS "THE SWAN SONG OF ANTIPRIVATIZATION NATIONALISM." A manual on how to halt the privatization of...
Congo, Zaire
On the morning of Friday, May 9, a South African chartered Boeing 727 from Harare in Zimbabwe landed in Lubumbashi, the second-largest city in war-tom Zaire. Lubumbashi was the campaign base of Laurent Desire Kabila, the rebel leader who at that point...
Custody Providers Invest to Meet More Global Competition
GLOBAL FINANCE: Global Custody roundtables have been taking place for about seven years, and we've talked about consolidation at every one. At first it was that consolidation was going to happen, then that consolidation was happening. So is this process...
Global Finance's 1997 CFO Superstars
THEY'RE CARVING OUT PERSONAL SPECIALTIES AND BUILDING TEAMS TO HANDLE THE REST It's a given that chief financial officers-at least those who are superstars-are Renaissance men (and occasionally women). They manage and raise money proficiently, run an...
Investors Take Peru for the Long Haul
Even while Peru faced a serious political crisis early this year, year, foreign investor confidence remained high-demonstrating a new level of commitment to Latin economies. Peru's recent protracted confrontation with terrorist hostage takers is the...
Issuers: Listen Up to These Investors!
REVERSE INQUIRY, IN; WHICH BUYERS HELP SHAPE DEAL TERMS, IS A GROWING TREND, WITH TRANCHES ADDED ON DEMAND. This spring's rash of multibilliondollar US corporate debt offerings continues to exploit reverse inquiry, in which buyers as well as sellers...
Malaysia's Expansionist Multinationals Go on a Cross-Border Shopping Spree
Some of Malaysia's most aggressive companies are looking more and more like multinationals. Since last fall they've been on a cross-border dealmaking spree-invading other countries, winning contracts, setting up operations, taking sizable stakes in foreign...
Method in Their Mexican 'Madness'
A small US railroad pays a seemingly exorbitant price for a Mexican railroad only to find itself going head-tohead with a large US line intent on buying into a competing Mexican line. Did Kansas City Southern Railway make a mistake with its investment...
Step by Step to an Extranet
Right now, companies are thinking up imaginative ways of extending their intranets, and vendors are developing the building blocks of extranet technology. Extranets themselves will follow. Just when companies are getting used to the idea of the intranet,...
Taking the Big Financial Risk
Few investments really are routine, but obviously some require an extra measure of vision, an unusual tolerance for danger, and perhaps a bit of bravado. Some of the stories in this month's Global Finance examine cross-border investments that, to those...
Taking the Shackles off Japanese Companies' Finance Departments
Japan's upcoming "Big Bang" financial deregulation will be more like a series of pops. Nevertheless, the first of the reforms-to-be are already having an impact on Japanese corporate treasurers. Western banks, moreover, are seizing on deregulation as...
This Year's Superstars
While the CFO might be best known for a particular innovation, to be world class he should be strong in all aspects of the finance director's job, including 1. financing-the raising of debt and/or equity; 2. cash management; 3. effective use of derivatives;...