Finance

Americas

Pendo Systems name Ruth Wandhöfer, a globally recognized banking expert, to their Board of Directors

Pendo Systems is proud to announce that Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, has joined their board. Ms. Wandhöfer is a banking regulatory expert and one of the foremost authorities on transaction banking regulatory matters. Her reputation has been built around her ability to drive regulatory and industry dialogue...

Implications of the money laundering law reform

The amendment to the money laundering law approved in the first debate requires accountants, lawyers and real estate agents to report suspicious transactions made by their clients.Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism...

Wall Street finishes flat ahead of earnings season, key US-China meeting

It was a fairly flat session on Wall Street overnight, as investors exercised caution ahead of the first-quarter earnings season and a meeting between the US and Chinese presidents later this week. Investors will be focussed on the potentially tense meeting between Donald Trump and Xi Jinping on Thursday and Friday, after Mr Trump held out the possibility...

GLC Advisors Strengthens Advisory and M&A Expertise with Addition of Senior Bankers

Addition of Several Industry Bankers Including Former St. Charles Capital Professionals Deepens Firm’s Expertise and Relationships Across Technology, FIG, Consumer, Retail and Energy IndustriesGLC Advisors & Co., LLC (“GLC Advisors”) is pleased to welcome nine seasoned M&A professionals, including former Partners and professionals of Denver based...

Columbia Threadneedle opens office in Chile

Columbia Threadneedle Investments has opened its first Latin American office in Santiago, Chile. As its first proprietary distribution hub for the Andes (Chile, Peru and Colombia), the new office will serve the asset manager’s institutional and wholesale clients in the region. Columbia Threadneedle has also appointed Santiago Zarauza Riestra...

Asia Pacific

Myanmar’s countryside is emptying and its cities bursting

WHEN SHE moved from her village to Yangon, Myanmar’s biggest city, Ma Thet Thet Nwe was afraid. Her husband had just died and she needed to provide for five children. She found work at a garment factory in Hlaingthaya, an industrial zone, and saved enough money to buy a one-room, bamboo house in a nearby shantytown. Now she is pleased with her lot....

The Taliban negotiates with Afghan officials for the first time

IT WAS A breakthrough, albeit only by the forlorn standards of the 40-year conflict in Afghanistan. After two days of talks with Afghan officials at a posh hotel in Qatar, envoys of the Taliban promised that their insurgents would not attack schools, hospitals or bazaars. The Afghan government, too, said it would try to stop killing civilians. But more...

India is declaring millions of its citizens to be foreigners

IT IS HOTTER than Prague. It does not have the Czech capital’s cobbled squares or narrow streets but instead tin-roofed houses and paddies hemmed with palms and mango trees. Yet Franz Kafka would have felt quite at home in Assam. Since 2016 this hilly tea-growing state in India’s north-eastern corner has been compiling a National Register of Citizens...

In Japan, fewer people means more animals

FOR A LONG time hikers in Japan have considered a bear bell essential. Its tinny ring is said to scare off the huge creatures. Nowadays, however, bear bells are increasingly useful on the way to the shops as well as in the wild. “The number of animals—whether bears, boars or monkeys—is expanding, and they are going into villages and towns,”...

Who would dare to speak for Kim Jong Un and Donald Trump?

DONALD TRUMP claims that his weekend meeting with Kim Jong Un at the Korean border village of Panmunjom came about thanks to an impromptu invitation issued less than a day before on Twitter (the North Korean dictator “follows” him there, of course). In fact, preparations must have been under way for longer. Yet like everything else about the hour-long...

Europe

Why everybody is concerned about corporate-bond liquidity

IN SEPTEMBER 2007 Britain suffered its first bank run in a century. Television pictures showed a long queue of depositors outside a branch of Northern Rock. Alistair Darling watched in dismay from Portugal, where he and his fellow European Union finance ministers were gathered. “They’re behaving perfectly rationally, you know,” Mervyn King, the...

The choice of the IMF’s next boss could be a coronation

FOR THE purposes of decision-making, the IMF’s 189 member countries are divided into 24 constituencies of peculiar shapes and sizes. Ghana, for example, belongs to the same group as Afghanistan. Ecuador sits with East Timor. But in choosing the next boss after Christine Lagarde moves to the European Central Bank in October, the most decisive constituency...

A new study tracks the surge in Chinese loans to poor countries

LOAN TALKS with Belarus; funding for bridges in Liberia; a possible gas project in Timor-Leste; accusations of exploitation in Tanzania; a corporate dispute in India; pledges to support the Rwandan private sector. And that was just the past few weeks. Such is the frenetic pace of China’s overseas lending that its outstanding loans have risen...

To get a ticket to Wimbledon you must be rich, patient or lucky

ECONOMICS IS ALL about allocating scarce resources. Usually that is done by pricing. If demand for strawberries exceeds supply, prices will rise. Customers may switch to raspberries, or farmers may plant more strawberries. But some markets are more complex.  Take those for tickets to popular events—like Wimbledon. The tournament is played over...

Recep Tayyip Erdogan sacks the head of Turkey’s central bank

TURKEY’S ECONOMY had just begun to show signs of recovery. High interest rates, a measure of calm following local elections earlier this year and attempts to rebuild a strained relationship with America had allowed the lira, which fell by 12% against the dollar in the first four months of the year, to strengthen. Inflation had fallen to 16%, from...

Mena

Killings in Congo’s north-east spark fears of a return to war

AS HE SLIPPED out of consciousness, Batsi Lokana watched the militiamen who had attacked him slice off his mother’s head. When he came to, her body was gone. “Either they ate her, or they threw her into the river,” he surmises from his hospital bed in Bunia, the capital of the Democratic Republic of Congo’s Ituri province. Given Ituri’s history...

The killing of a black Jew sparks protests in Israel

THE VIOLENT protests that shook Israel on July 2nd had all the hallmarks of race riots. A young black man had been shot dead by an off-duty policeman in unclear circumstances. Thousands of Ethiopian Jews took to the streets, throwing stones at police officers, blocking roads and overturning police cars. Their claims of systematic racism and police brutality...

Beirut is still arguing over its post-war reconstruction

ASIDE FROM its name, Beirut Souks could be anywhere. Gone is the labyrinth of alleys that rambled down to the port. Instead, soulless walkways lined with shops sporting global brands have buried the maze of spice and gold markets that once were filled with the braying of donkeys. The grand edifice pockmarked by shells that formerly housed L’Orient-Le...

Killings in Congo’s northeast spark fears of a return to war

AS HE SLIPPED out of consciousness, Batsi Lokana watched the militiamen who had attacked him slice off his mother’s head. When he came to, her body was gone. “Either they ate her, or they threw her into the river,” he surmises from his hospital bed in Bunia, the capital of the Democratic Republic of Congo’s Ituri province. Given Ituri’s history...

Eritrea’s gulag state is crumbling

ABIY AHMED’S arrival in Asmara on July 8th last year was as colourful as it was historic. Thousands thronged the streets of the Eritrean capital to witness the first visit by an Ethiopian leader since the two countries fought a bloody war from 1998 to 2000. Both national flags fluttered along the boulevard from the airport; women carried plates of...

International

Christine Lagarde Must Learn to Run an Economy That’s Slowing to a Crawl

She doesn’t have the typical résumé — no doctorate in economics, no post as a central banker — for running the body that sets monetary policy for one-fifth of the global economy. But investors are betting that Christine Lagarde, the surprise nominee to be the next president of the European Central Bank, will act in much the same way as the bank’s...

Tariffs on China Don’t Cover the Costs of Trump’s Trade War

WASHINGTON — President Trump on Monday portrayed America as being on the winning end of his trade war, saying tariffs are punishing China’s economy while generating billions of dollars for the United States, an economic victory that will allow him to continue his fight without domestic harm.“We’ve taken in tens of billions of dollars in tariffs...

Dissent in Ranks of Hollywood Writers Who Fired Their Agents

The two unions representing television and movie writers took a firm stance in April, when they instructed their members to fire their agents and sued the four biggest talent agencies in Hollywood.Now a faction of writers who belong to the Writers Guild of America West and the Writers Guild of America East are beginning to go public with criticisms...

The Apollo 11 Mission Was Also a Global Media Sensation

[Read all Times reporting on the 50th anniversary of the Apollo 11 moon landing. | Sign up for the weekly Science Times email.]The television news director Joel Banow absorbed endless hours of “terrible old B movies” filled with extraterrestrials and rocket ships long before he oversaw the production of an authentic space opera.While the astronauts...

Amazon Prime Day Brings Sales, and Risks, for Retailers

Amazon had already revolutionized the way people read books, watch TV and shop online. And now it has succeeded in transforming the retail calendar.Monday is the start of Amazon’s annual Prime Day sale, when subscribers to the company’s Prime service get major discounts on everything from flat-screen TVs to Ben & Jerry’s ice cream. Now in...