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September 2017

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LATEST ARTICLES

  • Norway’s sovereign wealth fund has decided to steer clear of corporate bonds, which will help it to avoid the reputational traps that loom for some other large investors.
  • Many asset managers have opted to pay for research under Mifid II, but exactly what those costs will be is still unclear.
  • Global finance needs to believe in the progress it can drive to meet environmental challenges.
  • Hurricanes, electric cars and pollution rules are bringing volatility back to the commodity markets.
  • Big banks have the scale to fund new digital platforms but also face the high cost of maintaining legacy IT.
  • If European bond investors want to protect against rising rates, they must first put on more risk.
  • Qatar’s financial sector might not be the only one to struggle under a blockade imposed on the country since June by a coalition of Middle Eastern states.
  • The big banks underestimate ‘big tech’ at their peril.
  • It’s right to adopt a stance of scepticism over banks’ commitments to environmental, social and governance standards, but it’s people, not corporations, who pilot changes in course, and Euromoney is in a privileged position to witness such changes first-hand.
  • Sovereign targets credit uplift for euro admission; Lazard advises on SOE restructuring.
  • Startup promises ethical, customer-led approach; first it needs a licence.
  • Iraq’s former industry minister, Mohammed Alderajy, is brutally honest about the country’s culture of corruption and resistance to reform. The banking sector is far from immune. He says a new attitude is needed if Iraq is to improve its prospects for reconstruction.
  • Banks in Qatar have been hit hard by its powerful neighbours’ unexpected blockade, but finance, just like other sectors of the Qatari economy, is finding ways to cope with this sudden realignment of regional alliances.
  • Amr El-Garhy is Egypt’s ninth finance minister in a little over six years – and after a revolution, a coup d’état and last year’s surprise currency flotation, the Egyptian economy is in desperate need of stability. El-Garhy talks to Euromoney about the challenges facing him and the country.
  • As jitters about the future of high-street retail in the US and beyond prompt property investors to pare their exposure to the sector, Brookfield Property Group, one of the world’s largest, is busy ramping up.
  • President Mauricio Macri’s economic inheritance was toxic; his policy of gradual fiscal realignment looks like it will lead to success in this year’s crucial mid-term elections, but the country desperately needs investment to maintain the transition.
  • Low oil prices have put Oman’s government under pressure, while regional political turmoil could make life even more uncomfortable. A new economic model is called for, but can the leaders in Muscat find one quickly enough?
  • The surprise victory of Donald Trump in last year’s US election stopped Mexican M&A in its tracks, but as the stock market and the peso started recover in 2017, so too did Mexican corporate appetite for acquisitions, not least in the US.
  • Germany’s public-sector banks are not meant to be profitable – they have a social function – but even though stresses will continue, savings banks have found ways to work with the Landesbanks.
  • Investment in logistics assets is on the up, while interest in retail properties seems to be on the slide, dragged down by the sense that they are the past, not the future. But bricks and mortar may yet have some bounce in it.
  • It is not just corporations and states that have built up record debt levels: the indebtedness of the booming sub-sovereign market – especially among state-owned enterprises – can be difficult to see until something goes wrong. Should investors be spooked?
  • BRI may be hard to define, but it is already working wonders in parts of a region crying out for good infrastructure. Global and regional lenders are happy to go along for the ride.
  • The former Soviet states of central Asia and the Caucasus are ideally placed to benefit from the Belt and Road Initiative, but realizing their full potential will require reform as well as infrastructure development.
  • A close neighbour with a large infrastructure deficit, southeast Asia is a natural target for China’s Belt and Road Initiative, but when do mutual benefits for China and the region become regional dominance for the Asian giant?
  • Chinese policymakers and firms are showing an increasing interest in central and eastern Europe – but will Beijing’s ambitious plans for infrastructure development put China on a collision course with the EU?
  • China’s Belt and Road Initiative is so vast and ambitious it can be difficult to understand how it will all work in practice – what makes a BRI undertaking, how will they be funded, will they be trophy projects or on commercial terms, how are they originated? – so Euromoney spoke to 16 institutions all looking at BRI from their own different perspectives.
  • The Belt and Road Initiative offers much to the disparate markets of the Middle East and Africa, but not all those countries seem so enthusiastic in return.
  • Supply chain finance management is more than just about extending favourable payment terms – corporates now need their banks to be involved all along the chain to keep their suppliers operating.
  • A decade after the great panic of August 2007, a harbinger of the global financial crisis that followed, Euromoney brings together chief executives of three firms almost brought down by the credit crunch. We ask them to share their recollections of that time, discuss key lessons learned and debate the likelihood of a new crisis, the banking industry’s ability to withstand it and how to improve regulation.
  • President Mauricio Macri’s success in Argentina’s primary elections suggests that his gradualist approach to reform might be the right strategy after all.