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. 14, No. 8, August

ADR Issuance and Trading Soars
International companies are raising record amounts of capital on the US markets using American depositary receipts. In the first six months of this year they raised $16.5 billion, more than double the $7.4 billion in the same period last year, according...
Argentina Bounces Back from Hard Times
Argentina's economy has taken a beating in recent years due to external crises, but now the rebound is at hand. Argentina is poised to reemerge from its economic doldrums as a key Latin American economy but it faces formidable challenges in the journey....
Australia Only Winner in Quarter
Bank of New York's Asian ADR index rose 9.11% in June but remained down 9.34% in the year to date. The Australian ADR index was the only sub-index in Asia to rise in the second quarter, with a gain of 2.2%.The Indonesian index was down 31.81% in the...
Banfi Plays Both Ends: Quantity and Quality
Banfi Vintners, is a family-owned Long Island, New York business that has been known for most of the past 81 years as a major importer of large volume, low-cost wines. It now has it a 19% share of the US imported wine market, vastly overshadowing its...
Boston Investors Eye the Pfandbrief
Top executives of the Association of German Mortgage Banks were in Boston recently to discuss with local investors the increasing globalization of the Pfandbrief collateralized bond market-which is becoming more diversified in terms of issuance and placement....
China Unicom Raises $4.9 Billion
Asia China Unicom raised $4.9 billion through 234 million American depositary receipts and 123 million common shares.The share sale in Hong Kong was the biggest in Asia and the ninth-largest IPO of all times, according to CommScan, a New York-based investment...
Corporate Governance and Korean Competitiveness
Is corporate South Korea rising, phoenix-like, from the ashes of the Asian financial crisis? Will the major Korean conglomerates-the chaebol-return to business-as-usual, both in Korea and as aggressive competitors in the international marketplace? Within...
Dear Reader: Bestmania
Like most business and financial publica tions, Global Finance has a long tradition of publishing lists of "bests." But this month we venture into some new terrain-possibly at considerable peril. Naming the world's best providers of retail and corporate...
Getting E-Finance Portals on the Web
Financial service companies are turning to specialized ASP companies to speed up the job of getting their portals up and running, with maximum efficiency. As more providers of financial services flock to the Internet, their inability to deploy infrastructure...
Heavyweight to Go
While some mobile gadgets are little more than playthings, there are a clutch of slimmed-down devices that provide some serious computing power to the executive on the move. by Daniel Keeler As the market for handheld computers heats up and the range...
Most Powerful Women in Finance
Over the last generation or so women have made serious inroads into the highest echelons of almost every profession and are familiar fixtures in the fields of media, marketing, medicine, law, and academia.Yet finance remains a male bastion, especially...
Optical Networking Company Shines
EUROPE Britain's Bookham Technology was the top performer in Europe in the second quarter with a rise of 100.85%. The company integrates the lightprocessing functions of optical components, such as lasers and lenses, onto silicon chips. Founder and chief...
Philip Morris Dominates
THE AMERICAS The agreement by tobacco giant Philip Morris to purchase Nabisco Holdings, the maker of Oreo cookies and Ritz crackers, dominated mergers and acquisitions in the Americas in the 30 days ended July 10. Morgan Stanley Dean Witter advised on...
Recovering from Economic El Nino
After a setback in 1999, Chile's economy is roaring ahead at a 6% GDP growth rate for this year. Manufacturing and exports, especially in nontraditional areas, are leading the recovery. Chile's strong manufacturing and export growth is placing its economic...
Sonus Networks Gains 586%
The global IPO market gained significant momentum at the end of the second quarter, with a number of strong offerings that posted sharp increases in prices. Optical networking companies Sonus Networks, ONI Systems, and New Focus achieved some of the...
Spanish IPO Prisa Rises in a Hurry
Media conglomerate Grupo Prisa launched the largest initial public offering in the history of the Spanish stock market on June 26, and its share price surged more than 20%.The $858.4 million sale of 20% of Prisa shares was oversubscribed 18 times. Prisa...
Streamlining the Treasury Function
New suites of software products for the Accounting, Budgeting and Forecasting functions are putting more strategic company-wide controls into the hands of treasurers. Anascent market for software products designed to streamline the analytic side of treasury...
Take Care in Choosing Electronic Bedfellows
The Internet opens the door to everybody in the B2B world. Whom should you let come in as a customer or supplier? The French Coface Group offers some solutions. The best thing about the Internet is that just about any company can enter the international...
The Browser Takes Charge
Internet based services, accessible by desktop browser or in some caswe even wireless devices, are rapidly changing the way financial institutions market and deliver their services. Leading providers.of .soft-... ware, systems and consulting services...
The Incredible Shrinking US Debt
The US government's $3.5 trillion public debt may be eliminated by 2012- far sooner than earlier projections indicated. As the market for treasury securities dries up, it will leave the corporate bond market afloat without an anchor and complicate the...
The Pfandbrief in Perspective
As a prelude to the Boston Pfandbrief roundtable, Karsten von Koller, president of the Association of German Mortgage Banks, provided additional details about the background and nature of the Pfandbrief, and the prospects for future developments in Europe's...
Trade Finance Trails the Internet
Complexity Plagues e-Trade Finance Evolution While technological innovation and the Internet have made the provision of many financial services more efficient over the past few years, advances in the business of trade finance seemingly have stagnated....
Vivendi Offer to Buy Seagram
Vivendi, a French water utility that is transforming itself into a media conglomerate, agreed to acquire the remaining 51% interest it did not already own in Canal Plus, a pay-television operation, in a stock swap transaction valued at $11.87 billion....
Wall Street Begins to Experiment with Internet Video
Global Financial Giants Are Missing Out on Streaming Media The biggest global financial firms are betting big by investing in broadband. But when it comes to their own Web sites, Wall Street's finest aren't even scratching the surface of streaming media....
When Water Can't Put out the Flames
The need for modern water and waste-water facilities in South America is acute but the sale of water companies to private interests is a fiery political and social issue. After four delays, Manaus Saneamento, the biggest unit of Brazilian state water...
World's Best Internet Banks
Identifying the best Banks traditionally have not received much acclaim for innovation and success on the Internet. More recognition instead has gone to brokerage firms, where the explosion of online trading revolutionized the industry. New Internet...