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. 22, No. 4, April

Ackermann Proposes Global Overseer
GERMANYDeutsche Bank CEO Josef Ackermann suggests that creating a global financial sector watchdog could prevent an encore of the global market storm unleashed by the US subprime crisis. Analysts say the idea may be a good one, if indeed market experts...
A Controversial Treaty
Much lambasted for its effects on the poor, Nafta has proved successful at opening the North American markets-and promoted corporate growth in the process.As the US presidential primary campaigns neared their conclusion in March, the North American Free...
Airline Aims to Make Friends in High Places
UNITED KINGDOMIn a move that is clearly aimed at drumming up corporate business, upstart UK-based business-classonly airline Silverjet has rolled out an innovative loyalty program that takes the benefits out of the hands of individuals and places them...
Big Chinese IPOs Keep Coming despite Downturn in Stock Market, Putting Shanghai Exchange in Lead
CORPORATE FINANCING FOCUSThe Shanghai Stock Exchange raised more funds in initial public offerings last year than any exchange worldwide, and it is taking aim at another record in 2008, despite a 30% pullback in the Shanghai composite index from its...
Colombia Gains Ground in Andean Standoff
COLOMBIA/ECUADOR/VENEZUELAAfter Venezuela and Ecuador sent troops to their borders with Colombia, in response to Colombia's attack on PARC (Revolutionary Armed Forces of Colombia) rebels within Ecuadorian territory on March 1, it appears the government...
Credit Crunch Tightens Grip on US Market
Credit spreads widened last month and corporate bond yields were at or above levels that prevailed prior to the start of the Federal Reserve's monetary easing last summer, leading economists to conclude that the US economy will continue to struggle for...
European Commission "Alarmed" over Lack of Transparency
EUROPESix months into the credit crunch, and with banks in other parts of the world such as India still announcing losses from the subprime crisis, the European Commission has admitted there is still no clear picture of how big the actual losses are....
Fighting Fraudsters from Within
New technologies and greater understanding of the mechanics of online fraud are helping corporations beat the bad guys.The 2002 film "Catch Me IfYou Can" was based loosely on a book penned by Frank William Abagnale Jr., a former con artist who in the...
From Bust to Boom
Lebanon's banks are spreading their wings as they push for more growth in the Middle East's key markets.While the banking sector remains the backbone of Lebanon's struggling economy, the country's biggest banks are getting an increasing share of their...
FX Update
Thailand: All changeOne year and three months after the Bank of Thailand announced punitive capital controls designed to stem inflows of hot money, the central bank revealed that these would finally be lifted as of March 3rd of this year. Speaking at...
Global & Sub-Custody
Global Finance presents its annual sponsored guide to the leading providers in the global custody and sub-custody markets.Global CustodiansBNY MELLON ASSET SERVICINGCustody assets:2007:$23 trillion2006:$19 trillionRatings: (long-term deposits) Moody's...
Growth Interrupted
Flagging global growth, an ongoing energy shortage and increasing wage and inflation pressure are weighing heavily on South Africa's economy.South Africa has traditionally been regarded by investors as a gem in an otherwise troubled region, but with...
India's Big Bank Merger Could Be First of Many
HDFC Bank and Centurion Bank of Punjab have agreed to the biggest merger in Indian banking history, valued at about $2.4 billion. It is likely the beginning of a wave of M&A deals in the financial services industry, as India prepares to ease restrictions...
Latin American Currencies Heat Up
Latin America has experienced its share of currency crises in recent decades, but for the past few years the region's currencies have continued to go from strength to strength."Latin American currencies are on fire," says Clyde Wardle, currency strategist...
Let the Good Times Roll
Prudent investment of vastly increased oil revenues and a determination to build stable financial foundations are helping transform the Middle East into one of the world's most vibrant economic areas.Record-high oil prices have primed the economies of...
Net Benefits
BRAZILAfter holding its ranking as the worlds largest emerging markets debtor for several decades, Brazil in January became a net foreign creditor for the first time ever, with international reserves exceeding foreign liabilities by some $4 billion....
Panama Pushes for Investment Grade
PANAMAAlthough Brazil appears poised to become Latin America's next investment-grade-rated sovereign, a tiny country may beat the giant to the punch. With Standard & Poors upgrade of Panama's rating to BB+ from BB, all three major rating agencies...
Putin Engineers Smooth Transition Following Election
RUSSIAAs expected, Dmitry Medvedev won the Russian presidential elections on March 2, with 70% of the vote. Medvedev was a shooin by dint of enjoying the explicit support of his mentor, Vladimir Putin, who remains hugely popular with the electorate but...
Secondary Development
As Islamic bonds become more popular, banks are creating a viable secondary market.(ProQuest: ... denotes text missing in the original.)A surge in the issuance of sukuk, or Islamic bonds, and growing demand from global financial institutions and hedge...
Shekel to Become Fully Convertible
ISRAELThe Bank of Israel has joined the New Yorkbased CLS (Continuous Linked Settlement) Bank (a multi-currency bank supervised by the US Federal Reserve that serves as an international clearinghouse for inter-currency transactions), which will enable...
Stock Slide Hits Ipo Plans
CHINAChina will more strictly examine applications from listed companies to issue new shares on domestic capital markets, the China Securities Regulatory Commission announced after the Shanghai Composite Index hit its lowest point in six months on February...
Terms of Trade
With Nafta once again coming to the forefront of water-cooler discussions as a result of the political ping-pong between Democratic presidential hopefuls in the US, we look back at the development of the ground-breaking free trade agreement and examine...
Turkish Banking and Finance Roundtable 2008
At a roundtable in Istanbul, Global Finance brought together Turkey's central banker and other leading figures to discuss the prospects for the country's economy.GLOBAL FINANCE: The Turkish government seems to be redoubling its efforts to join the European...
Welcome to Globalization 2.0
Readers might find flipping through this month's issue makes their heads spin. In the Middle East we find regional banks expanding rapidly, racking up eye-popping growth and profits. Africa, too, frequently forgotten, abused or just plain exploited by...
Who's Who in NAFTA
Global Finance names the most influential and important people in Nafta commerce and finance.GASTÓN AZCÁRRAGA ANDRADEPresident,Consejo Mexicano de Hombres de Negocios, and CEO, Grupo PosadasMexicoGastón Azcárraga Andrade has been CEO of Grupo Posadas,...
World's Best Developed Markets Banks 2008
Global Finance unveils its annual list of the best banks in developed markets around the world.The past year has been one of the most tumultuous in recent memory for the banking sector. After the boom time of 2006, last year-or, more accurately, the...