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. 23, No. 11, December

Africa Leads the Way to A New Era
Africa's economic development will be fueled more by its relationship with other emerging markets than with historical partners in the West.For hundreds of years Africa has represented a land of opportunity for many foreign investors, albeit one that...
A Long Way to Go
Emerging Markets Focus: Central & Eastern EuropeFor most Central and Eastern European countries, 2009 turned out to be every bit as bad as expected. The region's prospects for the coming year are mixed, at best.In 1989 the fall of the Berlin Wall...
Asia Prepares to Unleash Its Full Potential
Emerging Markets Focus: AsiaAsia has confounded skeptics with its remarkable rebound, but its continued rapid growth will depend on some tough decisions.Asia's economic outlook was bleak this time last year. Despite its financia! reforms, high savings...
Banks Develop Social Skills
The World's Best Internet Banks Part IIIn the second of a two-part series, Global Finance identifies the best global and regional Internet banks.Not many of the headlines about the global banking industry in the past year have been about excellence and...
Brazil
The Brazilian government took the controversial step of reintroducing a 2% financial transactions tax on purchases of stocks and bonds by foreign investors that had been eliminated in October 2008. Authorities say the tax aims to curb the reals appreciation...
Breaking Out: Emerging Markets Come of Age
Emerging Markets FocusEmerging markets are leading global growth, and they are doing so by relying increasingly on domestic demand.The big question global investors and economists are asking about the sharp rebound in many emerging markets is, can it...
China
China's economy wi grow by 8.4% this year, according to World Bank estimates, and by 8.7% in 2010. The World Bank projected 2009 growth of 7.2% for China's economy in June but revised its growth estimates based on the success of the country's stimulus...
Cloud Control
Businesses looking for cost-effective data and IT infrastructure solutions are increasingly finding the answer is in the cloud.History is littered with examples of technologies that were hyped by analysts, but when it came to implementing them, they...
Credit Market Recovery Stays Alive
Corporate bond issuance worldwide passed the $2.5 trillion milestone for the year to date in October, and credit quality improved, as the record rally in the credit markets rolled along. Standard & Poor's contributed to the upbeat mood by cutting...
Crisis Prompts Creative Solutions
Businesses are demanding more integration, efficiency and liquidity from their trade finance providers. The trade finance space will never be the same.The recent global financial crisis brought many changes to the world of trade finance. Treasurers became...
Dollar's Recovery Linked to Timing of Fed Rate Hike
Foreign exchange market analysts expect the dollar to turn higher sometime in 2010, but whether the turning point comes early or late in the year could very well depend on how long the Federal Reserve waits to raise rates.The dollars slide has legs,...
Emerging Markets Deals Gain Prominence
Warren Buffett s $34 billion investment in Burlington Northern Santa Fe, the second-biggest railroad in the US, was a big bet on the future of the US economy, but major deals in emerging markets and Asia recently hint at a potential new source of mergers...
FX Update: The HK Dollar Peg and US Economic Policy
Outside of the United States, nowhere else is the impact of current Fed policy being felt more keenly than in Hong Kong. The Special Administrative Region's (SAR) currency board has demanded an ultraaccommodative monetary policy akin to that of the Fed...
India
The Indian government's privatization program has received a shot in the arm after the Cabinet Committee on Economic Affairs (CCEA) gave the green light to a proposal to allow unlisted government companies that have been profitable for three years and...
Middle East
A joint venture of ExxonMobil and Royal Dutch Shell has clinched a $50 billion deal to develop one of Iraq's biggest oil fields, the West Qurna reservoir near Basra. ExxonMobil controls 80% of the venture and is the first US-based company to win a contract...
New Kids on the Block
As we bid farewell to the first decade of the 21st century, we find ourselves poised on the brink of a remarkable new reality. The sometimes cataclysmic events of the past year have cemented, and in some cases accelerated, changes that have been taking...
New Premier Charts A Difficult Course
JapanJapanese prime minister Yukio Hatoyama and his Democratic Party of Japan (DPJ) swept into office in September with pledges to reduce government spending and bureaucracy, improve social infrastructure, promote regional cooperation and recalibrate...
Opportunity Knocks
Much of Latin America is reaping the benefits of a rapid growth in China's involvement in the region. Booming trade levels are changing some key global market dynamics.As the skies begin to clear after the global financial crisis, Latin America may become...
Outlook Improves for Capital Raising Using Depositary Receipts in 2010
Corporate Finance FocusLike initial public offerings, the amount of equity capital raised using depositary receipts dried up during the global financial crisis, but there has been a flood of new DR issues in recent months, and companies around the world...
Panama Poised for Investment-Grade Status
PanamaPanama is poised to become Latin America's newest investment-grade-rated country. Standard & Poor's pushed Panama closer to the coveted rating in November when It raised the outlook on its BB+ long-term rating from stable to positive, noting...
Rising Oil Prices Boost Confidence
The outlook for the Middle East's economy has brightened substantially in recent months, but the reluctance of banks to lend remains worrisome. Bond issues are picking up some of the slack.Business confidence in the oil-exporting countries of the Gulf...
Rusal Flotation Struggles amid Turbulence
RussiaOleg Deripaska s plans to float Rusal, the world's largest aluminum company, in a December IPO are facing serious turbulence. The company, according to some metals analysts, is in a questionable financial state, making the targeted valuation range...
Senator Seeks to Rein in Fed's Authority
United StatesThe chairman of the Senate banking committee, Connecticut Democrat Christopher Dodd, has taken dead aim at the Federal Reserve's authority to supervise banks in what could be the opening salvo in a battle by politicians to gain control over...
Sound and Steady Growth Builds a Market-Leading Position
ICBC continues to hold its market-leading position within the Asian financial landscape, and continues to grow its profit margin, through perseverance and solid management practices.Sound and steady growth were the keywords for Industrial and Commercial...
The Biggest Emerging Market Banks
Global Finance unweils its second annual league table of the biggest emerging market banks ranked by total assets.As the world's key emerging markets continue to drive the global economy out of recession, Global Finance unveils its second annual Global...
The New Powerhouses of Global Growth
Many emerging market countries have successfully navigated the financial crisis thanks to more resilient financial systems, adaptive business practises by corporates and focusing on trade with countries outside the West. The resulting shift in flows...
Turkey Enjoys Growing Profile in Arab World
Lebanon/Syria/TurkeyThe evolution of Turkey's role in the Middle East and beyond was clearly on display at a late-October risk management conference in Beirut. The guest speaker at the conference was the Turkish central bank governor, Durmtis Yilmaz....