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Emerging & Frontier Markets

Emerging Markets : Government Mobilizes Reserves To Boost Liquidity

BRAZIL Oil finds saw Brazil's national petroleum agency ANP reduce new exploration concessions. While Brazilian officials had touted the country’s resilience to the global financial meltdown, they got a disturbing wake-up call in October as the ...

Emerging & Frontier Markets

Newsmakers : Emerging Markets Face Savage Reversal Of Funds Flows

GLOBAL Capon: Asia's funds are drying up fast. The credit crunch has shattered a lot of illusions about the soundness of the global financial system, and another theory that has been challenged is that of “decoupling,” ...

Emerging & Frontier Markets

Emerging Markets : Emerging Markets Begin To Feel Pain

NEWS The world’s emerging equity markets had a gloomy summer, falling 19.4% in the three months through August, compared with a decline of 11.55% in developed equity markets in the same period, according to an analysis by Standard & Poor’s. ...

Emerging & Frontier Markets

Emerging Markets : In Olympian Bid For Global Respect

BRAZIL Petrobras head José Sergio Gabrielli: Prefers debt issue to equity. The Brazilian government is grappling with the reality of new offshore oil discoveries that could produce an estimated 50 billion barrels of oil, according to private ...

Emerging & Frontier Markets

Emerging Markets : Russia’s Electricity Spin-Offs Create 11 New Dr Programs

DR NEWS Eleven new companies, spun off from Russia’s former electricity monopoly, selected The Bank of New York Mellon as the depositary for their Regulation S and Rule 144A global depositary receipt programs. The bank is ...

Capital Raising & Corporate Finance

Features : Risky Business

FOCUS / ECONOMIC NATIONALISM As if the global credit squeeze were not enough, multinationals, particularly in the commodities industries, are also facing a surge in resource nationalism. Horne: Companies are investing in riskier areas. Fueled in part by soaring ...

Emerging & Frontier Markets

Milestones : IMF Seeks To Buff Up Tarnished Image

UNITED STATES IMF: Many view it as responsible for causing, not reducing, poverty. The International Monetary Fund (IMF) is not likely to win any popularity contests anywhere in the world these days. Emerging market governments have been ...

Emerging & Frontier Markets

Newsmakers : Way Cleared For Jacob Zuma To Run For President

SOUTH AFRICA Zuma: Election victory all but assured after charges are dropped. South Africa’s High Court last month dropped all corruption charges against Jacob Zuma, president of the African National Congress (ANC). Although the decision was based ...

Capital Raising & Corporate Finance

Corporate Finance : Global Ipo Activity Falters, With Fewer, But Larger, Issues Focused On Emerging Markets

GLOBAL EQUITY/DRS Strange as it may seem, there have been bigger initial public offerings since the credit crunch hit, but fewer of them. Global IPO activity reached an all-time high of $287 billion in proceeds in 2007 but ...

Banking

Emerging Markets : Banks Seek Growth After Profits Slide

BRAZIL Digging in: Brazilian miner Vale is investing heavily. After several years of steady profit growth, Brazil’s banking sector reported a slowdown in second-quarter 2008. Bradesco, Brazil’s largest non-state bank by assets, posted a 13% drop in second-quarter ...

Award Winners

Features : World’s Best Investment Banks 2008

ANNUAL SURVEY The past 12 months have been some of the most difficult ever for investment banks, but many institutions continue to provide outstanding services to their clients. Investment banks are still writing ...

Emerging & Frontier Markets

Milestones : Rating Downgrade Bucks Local Trend

ARGENTINA Don't cry for me: Kirchner's woes deepen as inflation accelerates. While Peru and Brazil crossed the investment-grade threshold this year, Argentina is moving in the opposite direction. Ratings agency Standard & Poor’s downgraded Argentina’s foreign and local long-term ...