Latin America

Latin America

Sovereigns shape up for differentiation

Essien’s Ecobank charm offensive

Essien’s Ecobank charm offensive

Albert Essien has brought much-needed calm to the bank



News and opinion

  • Bank M&A: Europe needs consolidation, not recapitalization

    Debt service costs will hit profits; regulators see M&A as the answer.


  • Fix fines fuel technology gold rush

    Technology companies are gearing up for a potential gold rush around FX benchmark trading, amid expectations the multi-billion dollar fines imposed on banks last week will accelerate appetite for solutions to boost transparency, oversight and pricing, analysts say.


  • Industry divided as regulators mull NDF clearing

    European proposals for mandatory clearing of non-deliverable forwards (NDFs) published in October seemed to be a decisive step toward a new framework for FX derivatives trading. However, responses to the consultation reveal deep divisions among FX market participants over the way forward.


  • Big data comes to FX

    The analysis of structured, semi-structured and unstructured information from multiple sources, commonly referred to as ‘big data’, could improve FX pricing as well as reduce the potential for regulatory infringements, according to technology experts.


  • Real estate: A curious case for Qatar

    The QIA has found itself on both sides of a property spat. But when in-fighting turns into a court case, only the lawyers will end up winning.


  • Angola sets sights on capital-markets reform

    The development of Angola's capital markets has been long promised but recent indications from the country's capital-markets commission suggests secondary public-debt trading could begin as early as next month. Nevertheless, it's unclear when the stock exchange will open its doors.


  • The new normal for emerging markets

    China, the dollar and oil. All three are moving in novel directions.


  • Riksbank under pressure for radical action amid deflation

    Despite cutting rates to a record low of 0% end-October, the Swedish Riksbank is under increasing pressure to launch more radical action – from asset purchases, QE and a dual mandate that includes employment, to a currency floor – as deflation fears grow.


  • Amrolia to lead Deutsche Bank digital drive

    FX market veteran takes up new role developing digital technology and reducing business complexity across Deutsche Bank’s markets platform


  • Macaskill on markets: Credit investors talk a good fight

    Blackstone and Pimco are talking a good fight when it comes to possible credit market dislocation. The widening in high-yield debt spreads that accompanied a bout of panic in global equity markets in mid October prompted displays of bravado from the investment firms.


  • China: Stock Connect through train steams ahead

    The eagerly awaited Stock Connect system connecting Hong Kong to the mainland is up and running to relief all round. While traditional long-only funds and southbound flows have lagged, market players foresee a new dawn in Chinese equity trading.


  • Macaskill on markets: The secret diary of Bill Gross

    Jon Macaskill imagines how the star fund manager might have recorded the reasons behind his shock move from Pimco to Janus Capital. Item one: update his enemy list.


  • Corporates facing risks with open-account trading

    Companies are increasingly using open-account transactions again to facilitate mutual global trade, but by almost cutting out trade-finance banks entirely, companies are opening themselves up to risks.



Features

  • Dark clouds still loom over India IPOs

    The feelgood factor from the election of Narendra Modi as prime minister does not seem to be translating into better fees for IPO bankers – yet.


  • Africa: Banks and telcos mobilise for money

    There’s no doubt mobile money is Africa’s future, but who is best equipped to benefit most: the telcos with their networks, or the banks with their products and service? And why are they fighting when they could be cooperating?


  • Rajan’s surgical strikes

    Reserve Bank of India governor Raghuram Rajan is battling inflation and crony capitalists to open a new chapter in the Asian superpower’s growth story. Rajan – Euromoney’s central bank governor of the year 2014 – reveals his blueprint for reforms and issues a stark warning about the cracks in the global economy.


  • CEE exchange consolidation: Fair exchange

    Stock exchange consolidation is back in focus in emerging Europe after the appointment of a new head for the Warsaw bourse. Further tie-ups across the region could yet prove politically problematic.


  • How to engineer a cash management monster

    What does it take to succeed in the increasingly competitive world of transaction services? Internal collaboration, global footprint, adaptability, connectivity and mobile technology all make up part of the equation. But every bank, and every client, is different


  • HFT: Flash boys come to Asia

    High-frequency trading is not confined to Europe and north America. Some Asia-Pacific countries are further along in embracing the strategy than others.


  • Essien’s Ecobank charm offensive

    Albert Essien has brought much-needed calm to a bank that, just a few months ago, was in crisis. Ecobank’s African network remains intact. It now has two powerful, strategic shareholders. But can the bank avoid repeating the mistakes of the past?


  • Too quick to PIK? The deals set to haunt European high yield

    Participants in the European high-yield market say the collapse of Phones 4U, which left PIK-note holders wiped out, was a one-off event. But it serves as a stark reminder of the liquidity trap that lies in wait for yield-hungry investors chasing each other further and further down the credit curve. And it calls into question whether European investors have developed the necessary credit skills to invest in such risky assets.


  • Latin America: Sovereigns shape up for differentiation

    The time when international fund managers saw Latin America as a homogenous investment call is gone. The days of differentiation are here. And as many of the region’s leading countries look to make the difficult transition from developing to developed economies, their finance ministers are fully aware of the need to create, and tell, their individual investment cases.


  • Project Neptune rising amid renewed liquidity concerns

    With volatility returning to bond markets, investors are fretting once more about illiquidity. Policymakers too worry that it might turn a bond market meltdown systemic. A new project for a shared messaging language to improve the flow of information connecting holders of inventory sounds unglamorous next to all-to-all trading platforms and central limit order books. But the rush of support from both buy-side and sell-side suggests Project Neptune could make a vital contribution.


  • Turkey looks to diversify infrastructure debt

    The country’s banks will not be able to shoulder the debt burden of its planned infrastructure programme. But palatable alternatives that don’t involve government guarantees aren’t yet ready, so for the foreseeable future, debt refinancing of projects is confined to after construction.






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