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LATEST ARTICLES
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“It was a perfect storm,” says Benigno López, Paraguay’s minister of finance, of last year’s economic headwinds. A drought, then flood, combination hit production in the agricultural and protein sectors – still two of the most important sectors for the country’s economy, despite a drive for industrial diversification.
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‘Werking’ is a very modern mixture of working space and café, taking up a large expanse of the ground floor of Asunción’s Paseo La Galeria towers complex – the Paraguayan capital’s emerging financial centre.
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As October 2019 was nearing its end, the focus for Argentina – and for many international investors interested in the region – was on the final head-to-head presidential election, scheduled for Sunday October 27.
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Paraguay has achieved a lot in the last decade. A raft of laws to underpin the management of its economy – such as inflation targeting and the fiscal responsibility law – created a stable macro-economic environment just before the commodities bust that sent other economies in the region into a downward fiscal spin.
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Staying the course: Barbados’ longstanding central bank governor, DeLisle Worrell, discusses the vigour and vitality of Barbados’ economy and explains the importance of playing to the island’s great natural strengths.
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Xining is a centre for culture as well as for commerce – and its leaders have seized on the importance of creating a liveable, green city for its residents
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Xining has a historic opportunity to raise its profile and become a hub city with the creation of the New Silk Road under China’s visionary ‘One Belt, One Road’ policy. Mayor Zhang Xiaorong tells Euromoney how the city is rising to the challenge.
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With nearly 2.3 million residents, Xining is a relatively small city in Chinese terms. But its influence is immense and its contribution to the region’s economy far outweighs its size as a world of new opportunity opens up along the New Silk Road.
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Xining draws competitors from around the world for one of the most spectacular – and exacting – sporting events in Asia, the annual Tour of Qinghai Lake. It also has world-class sporting facilities and the potential to become a magnet for global tourists as well as international sportsmen and women.
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The traditional handicraft of making Tibetan carpets has been transformed into a multi-million-dollar industry in Xining – and the opening of the New Silk Road will see the carpets flying to new markets throughout the world.
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A strong banking sector and growing knowledge economy hold the key to Lebanon’s future growth, central bank governor Riad Salamé tells Euromoney.
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Questions of cash: From global universal banks to regional aspirants, transaction services has become a core part of the post-crisis offering.
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Asia’s rapidly changing corporate sector is becoming increasingly advanced in how it runs its treasury operations.
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The Single Euro Payments Area prompted a wholesale change in how European banking operates and set a precedent for other regions on the possibilities open to them.
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The North American banking and treasury market is highly evolved but technology offers many routes to further sophistication.
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While banks continue to devote a lot of resources to compliance activity, there are signs that this investment is having less of a negative impact on service innovation.
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Limited transparency in securities flows has been a concern for some time. The challenge facing regulators is to address issues around ownership without affecting legitimate transactions.
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The number of countries with real-time payment systems continues to rise, raising the importance of addressing issues such as fraud detection and prevention, and collaboration.
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ISO 20022 has the potential to bring considerable benefits to regulators and regulated institutions, although the integration challenge should not be underestimated.
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The range and diversity of African markets means that investors must tailor their expectations on FX services to the local realities. Good advice is the key.
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Despite some successes with regional monetary unions, the prospect of a pan-African currency remains as distant as ever, with the euro offering a cautionary tale.
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As Africa becomes more integrated into the global economy, international developments have a more direct impact on its own growth prospects.
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Fixed or floating? Managed or not? The argument continues to rage within Sub-Saharan African central banks about how best to run and oversee a currency.
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Africa’s growth prospects and favourable demographics are strong incentives for investment, but the best FX advice is essential.
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The good times are not entirely over for issuers.
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China has turned the concept of a New Silk Road from rhetoric to practical reality in the two years since the initiative was revealed by Xi Jinping. Here are some of the key dates along the journey so far.
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Corporates, both foreign and local, are seeking increasingly sophisticated FX services and advice across the full range of African markets.
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China’s push for a New Silk Road under its ‘One Belt, One Road’ initiative has been described as the most important economic development of the 21st century. But can President Xi Jinping deliver on his lavish promise of a new world order in trade and commerce?
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The New Silk Road is not a single thoroughfare but – like its ancient predecessor – a long and winding network of cross-continental trade routes by road, rail and sea that will impact upon the lives and livelihoods of billions of people.
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Its famous West Lake has been celebrated by poets and writers since the ninth century. Now Hangzhou – which will host the 2022 Asian Games – has been named Best China City 2015 in the first survey of its kind by Euromoney.
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Successful, growing corporates are building a reputation outside Africa’s major markets.
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With capital markets still in their infancy, private equity is the route taken by many investors lured by African opportunities.
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Even as continent-wide growth dips, individual states are set for spectacular performance.
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Savvy investors are zeroing in on the opportunities in fast-growing African cities.
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In a complex and rapidly changing region, good advice and good partners are vital.
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Egypt’s government has made promoting the private sector a policy priority. Philip ter Woort of the European Bank for Reconstruction and Development explains why this is needed and what multilaterals can do to help.
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Commercial cards are moving beyond mere expenses to become another source of funding in the supply chain, especially for the middle market.
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As transaction banking evolves, it faces both challenges and opportunities.
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Egypt’s capital markets are firmly back on the radar of international investors, thanks to a pair of high-profile IPOs and the promise of the first sovereign bond for more than five years.
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After nearly four years of stagnation, Egypt’s economy is back on track and attracting increasing interest from regional and international investors.
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Egypt remains a high-risk portfolio option. However the partial, and yet sustained, rebound in its total risk score since September 2014 is a clear sign of investor confidence slowly returning now that the aftershocks of the Arab Spring are finally abating.
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Africa’s rich resources, natural and human, are luring capital, but investors will need to move fast.
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The dilemma has never been more vexing. Banks and corporates are under ever more pressure to cut costs and streamline their operations, making it increasingly difficult to justify extravagant technology investment. Yet the risk of getting left behind has never been greater.
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Ron Leven, PhD, Head of FX Pre-Trade Strategy, offers thoughts on the trends in vols and their effects
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Investigations into benchmark manipulation have cast a long shadow over the FX industry, but efforts to address what went wrong through stronger behavioural standards are now well advance
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Chinese renminbi is well on its way to becoming a major global currency, driven by the commitment of Chinese and international authorities to develop the necessary market infrastructure.
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The provision and consumption of liquidity in the FX market has evolved in recent years, with new participants and distribution mechanisms, but concerns have been raised about the market’s resilience at times of stress.
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Euromoney Country RiskData from Euromoney’s survey of country risk suggests economists are increasingly optimistic about the Hungarian economy.
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Hungary may have steered an unorthodox economic policy course but it seems to have worked, pulling the country out of recession and putting it back on a growth path.
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As economy minister and central bank governor, György Matolcsy has been one of the leaders of Hungary’s unconventional drive to economic recovery
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Foreign investors are starting to appreciate the opportunities available in an economy that has turned itself around.
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Hungary is set to receive $29 billion in EU funding for development over the next seven years.
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Hungary’s medium-sized industrial firms are becoming more competitive and exporting on a European scale.
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Growing Hungarian companies are increasingly looking for equity funding. The 150-year-old Budapest Stock Exchange is ready to help.
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Hungary’s banking sector is one of the region’s most exciting and innovative, stimulated by greater competition and government moves to tackle bad debts.
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With an impressive collection of some of the country’s best and most innovative young IT experts, Beijing ETOWN is creating China’s answer to Silicon Valley with a hub for the emerging cloud computing industry.
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China is the world’s fastest-growing car market – and Beijing ETOWN is home to a Mercedes-Benz plant that is creating luxury models tailor-made for Chinese drivers and is breaking new ground in the country’s luxury car market.
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Business is flourishing at Beijing ETOWN thanks to meticulous planning, first-class facilities and powerful government support. Now the zone is preparing for the challenges – and opportunities – that lie ahead.
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Biomedicine is one of the fastest-growing fields in China. Its success has triggered the return from abroad of talented graduates who are flocking home to take up positions with dynamic companies based in the biomedicine sector of Beijing ETOWN.
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Beijing ETOWN has established itself as a leading base for the equipment-manufacturing sector by offering powerful administrative support and meeting the expectations of hi-tech companies from countries such as Germany and Japan.
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Beijing ETOWN is an ideal home from home for an impressive A-list of global brand-name companies that use the hi-tech zone as a base for their China and Asia operations. Executives at GE Healthcare explain why being there gives them a competitive advantage.
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The remarkable rise and rise of Beijing ETOWN over the past two decades mirrors China’s transformation from the world’s workshop to a globally competitive hub for innovation, technology and high-end industry.
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Beijing ETOWN is a greenhouse for innovative domestic Chinese companies to flourish and reach out to a global marketplace – even though sometimes their products are much more visible than their names.
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Finding a location in the capital of the world’s fastest-growing economy is only one of the challenges in creating a successful hi-tech industry zone. Having the infrastructure to take advantage of that location and make it a place to live – as well as a place to work – is a far greater challenge.