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

Why the Cook Islands fears rich-country status

How not to blow your own trumpet MOST political leaders play up their country’s economic performance. Those on the Cook Islands, a collection of 15 islets spread over 2m square kilometres in the South Pacific, are doing the opposite. At issue is whether the country of 17,000 people has become wealthy enough to warrant a reassignment...

Violence and claims of election-rigging overshadow Pakistan’s election

“FOR the first time in our history, fair elections are going to be held,” insisted Fawad Chaudhry, a spokesman for the opposition Pakistan Tehreek-e-Insaf (PTI) party, this week. Unfortunately, this view is not universally held. The national and state elections on July 25th, in which 100m people are registered to vote, should mark a further...

The idea of Eurasia is once again the subject of geopolitics

OH, EAST is East, and West is West, and never the twain shall meet. Perhaps that was true when an Iron Curtain ran down the middle of Europe, and Mao Zedong’s China had turned disastrously inward. But now? This week leaders of the European Union and China met at a summit in Beijing to praise “EU-China connectivity”. It is more than an empty...

In Singapore, thousands will attend this year’s LGBT rally

Out and proud in Singapore BLACK-and-white photographs in the foyer of an arts cinema are filled with smiling, pouting and laughing faces—young and old, of various races. The portraits are of members of Singapore’s lesbian, gay, bisexual and transgender (LGBT) community. The fact that those pictured are willing to be identified publicly, in...

The president of Kazakhstan throws himself a modest birthday bash

Happy birthday, Mr President IT WAS in June of 1998 that oil-rich Kazakhstan officially inaugurated its purpose-built capital, Astana. But when the 20th anniversary of the city’s founding rolled round this year, the government decided to mark the occasion a few weeks late, on July 6th, as it has in previous years. That, after all, is the birthday...

Europe

How to spur Europe’s entrepreneurial spirit

The EU is moving in the right direction to expand innovation finance, Deputy Managing Director of the European Fund for Strategic Investments Iliyana Tsanova said at the annual Webit. Festival Europe in Sofia.Read More

David Solomon will be the new CEO of Goldman Sachs

Songs of Solomon LAME-DUCK periods can last for only so long. It was clear beforehand that a Goldman Sachs earnings call this week would be packed with questions about succession. When would the chief executive, Lloyd Blankfein, step down? (He had said in March he was leaving, but gave no date.) What would his departure mean for the firm’s other...

Income-share agreements are a novel way to pay tuition fees

TO PAY for his professional flight degree at Purdue University in Indiana, Andrew Hoyler had two choices. He could rely on loans and scholarships. Or he could cover some of the cost with an “income-share agreement” (ISA), a contract with Purdue to pay it a percentage of his earnings for a fixed period after graduation. Salaries for new pilots...

What Venezuelan savers can teach everyone else

ASK the chief investment officer of a fund-management firm how to spread your investments and you will be told to put so much in stocks, so much in bonds and something in hedge funds or private equity. Chances are that white-elephant buildings, eggs and long-life milk will not feature. But in Venezuela, where the inflation rate is in the tens of...

Football talent scouts become more rational

Making a Kylian CHEERS erupted from Calais to Cannes when Kylian Mbappé, a 19-year-old striker, thumped in France’s fourth goal in the World Cup final on July 15th. Among the smuggest onlookers were the accountants at Paris Saint-Germain, Mr Mbappé’s club. He was already a prized asset before the tournament, having broken the record for goals...

Mena

Mauritania ignores slavery, but jails those who protest against it

Almost born a slave A FEW miles from the green grass of Mauritania’s presidential palace, in a slum where the Sahara washes into the capital, Mbarka shields her five-year-old son’s eyes from the dust. She was his age when her mother gave her away to be a slave. Mbarka’s mother was herself a freed slave. But when her former master said he needed...

Why Morocco is cosying up to sub-Saharan Africa

The King and Buhari KING MOHAMMED VI of Morocco has had a quiet year. The monarch, who has visited at least 14 African countries since October 2016, scaled back his travels after a heart operation in February. But he still managed to play host to Mali’s prime minister in March and visit Congo-Brazzaville in April. Last month he took the Nigerian...

Djibouti risks dependence on Chinese largesse

Who is in the driver’s seat? DJIBOUTI was the last of Europe’s African colonies. France clung to this sliver of Red Sea coast until 1977; even today it occasionally resembles occupied territory. In the black lava desert stands a hilltop garrison of the Foreign Legion. French tanks trundle along the narrow road to Ethiopia. This whiff of colonialism...

The UAE is scrambling to control ports in Africa

IT SEEMED an irrational decision 20 years ago. DP World is one of the world’s largest maritime firms. From a squat office overlooking Dubai’s bustling Jebel Ali port, it directs operations in 40 countries. Most are in busy shipping hubs such as London and Rotterdam. But in the 1990s it started making surprisingly big investments in the Horn...

Turkey struggles to keep the peace in Afrin

THE scene in the centre of Afrin, a Kurdish city in north-western Syria, hardly inspires confidence in the future. A destroyed statue of a mythical Kurdish hero is a reminder of the plunder of the city after its capture earlier this year by Arab and Turkoman rebels backed by Turkish tanks, from Kurdish rebels. The teenage son of one of the Arab...

International

Fiat Chrysler Abruptly Replaces Marchionne as C.E.O.

Fiat Chrysler Abruptly Replaces Marchionne as C.E.O.ImageSergio Marchionne was replaced as chief executive of Fiat Chrysler on Saturday for health reasons. The company said he became gravely ill this month after shoulder surgery.CreditCarlos Osorio/Associated PressBy Neal E. BoudetteJuly 21, 2018Sergio Marchionne, the chain-smoking, deal-making boss...

Fiat Chrysler Taps New C.E.O. After Marchionne Abruptly Resigns

Fiat Chrysler Taps New C.E.O. After Marchionne Abruptly ResignsImageSergio Marchionne at the North American International Auto Show in Detroit earlier this year. He is said to be stepping down as chief executive of Fiat Chrysler for health reasons.CreditCarlos Osorio/Associated PressBy Neal E. BoudetteJuly 21, 2018For the past 14 years, few executives...

Wild About Tech, China Even Loves Robot Waiters That Can’t Serve

Wild About Tech, China Even Loves Robot Waiters That Can’t ServeSome in China are building a future that isn’t quite ready. Still, the exuberance may be a good thing, as useful products find their place and bad ones disappear.ImageThis is about as far as the nonhuman waiters can go at the Robot Magic Restaurant in Shanghai. After diners...

Fiat Chrysler’s C.E.O. Steps Down Early

Fiat Chrysler’s C.E.O. Steps Down EarlyImageSergio Marchionne at the North American International Auto Show in Detroit earlier this year. He is said to be stepping down as chief executive of Fiat Chrysler for health reasons.CreditCarlos Osorio/Associated PressBy Neal E. BoudetteJuly 21, 2018Fiat Chrysler Automobiles said on Saturday that it had...

Fiat Chrysler’s C.E.O. to Step Down Early

Fiat Chrysler’s C.E.O. to Step Down EarlyImageSergio Marchionne at the North American International Auto Show in Detroit earlier this year. He is said to be stepping down as chief executive of Fiat Chrysler for health reasons.CreditCarlos Osorio/Associated PressBy Neal E. BoudetteJuly 21, 2018Fiat Chrysler Automobiles is expected on Saturday to...