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

Australia is battling China for influence in the Pacific

AUSTRALIA HAS always been proprietorial about what Scott Morrison, the prime minister, calls its “patch”—those millions of square miles of Pacific Ocean over which the archipelagic countries of Melanesia, Micronesia and Polynesia are scattered. It has also been complacent. The patch was for flying over, not visiting. Until this week no Australian...

South Korea’s approach to planning is starkly unsentimental

An endangered alley THE MOSQUE will be left standing. It is perched on top of a hill not far from Itaewon station, at the foot of Namsan, the mountain that towers over central Seoul. Its forecourt offers a commanding view of a jumble of low-rise houses set along winding streets, which give into ever narrower lanes garlanded with precarious-looking...

Motorbikes are oddly absent from Myanmar’s biggest city

Generals’ delight LATE AT NIGHT Klo He Bin likes to don his biking jacket and take to the roads of Yangon on his Yamaha EasyRider. The other 15 members of his gang, the “Freeriders”, cruise alongside, wearing leathers embroidered with their logo. Mr Klo (not his real name) has been a motorbike enthusiast for years and says he likes the freedom...

Mongolians are getting angry about corruption

MORE THAN 20,000 Mongolians braved bone-chilling cold on January 10th to rail against their government in Sukhbaatar square in the centre of the capital. It was the second such protest in a fortnight. The demonstrators, who were allowed into the square only after being breathalysed and frisked, had many grievances, including inequality, unemployment...

Indonesia’s economic growth is being held back by populism

AT A CONFERENCE in Singapore on January 15th, Indonesian officials were out in force. Four senior ministers, the bosses of three state-owned enterprises and a senior civil servant took to the stage to try to drum up private investment in roads and railways. The audience, mainly financiers, nodded along. Not everyone was convinced, though. “The...

Europe

EIB’s leadership in the Circular Economy recognized at World Economic Forum meeting in Davos

The EIB has been selected as the runner-up in the “Investor” category of The Circulars 2019, the world’s premier circular economy award program organized by the World Economic Forum and the Forum of Young Global Leaders. The award ceremony, which was held on 21 January in Davos, recognized the EIB’s strong contribution to the...

La BEI signe l’Appel de Berlin pour le patrimoine culturel

La BEI a signé l’Appel de Berlin « Le patrimoine culturel - Un atout pour l’avenir de l’Europe » afin de promouvoir « la capacité à rassembler de notre patrimoine culturel commun et des valeurs que nous partageons pour rapprocher les collectivités et les citoyens européens. »Read...

The EIB signs the Berlin Call to action for cultural heritage

The EIB has signed the Berlin Call to action “Cultural heritage for the future of Europe” to promote the “positive and cohesive power of our shared cultural heritage and values to connect Europe’s citizens and communities”.Read More

Andrea Orcel’s move from UBS to Santander falls through

IN ONE LUDICROUSLY well-paid profession, January is a month for big-money moves. Stars grin for the cameras, are lauded by their new bosses and gush about their future teammates. Sometimes deals collapse at the last minute—occasionally, embarrassingly, in public. So much for football, where such pratfalls are merely part of the show. But not,...

As China’s debt soars, the market for buying bad loans revs up

FOR MANY investors, debt in China is something to fear, a shadow over the world economy. But for a different breed, it looks more like a terrain of untapped profits. This dichotomy has been sharpened by a run of weak data in recent days. Worries about a sharp slowdown in China have rattled global markets. But for the opportunists, it is a time...

Mena

Another terrorist outrage in Nairobi

KENYA HAS a reputation, often deserved, for being among Africa’s most successful states. Yet its vulnerability to terrorism has long been a weakness. So there was universal dismay, but little surprise, when jihadist gunmen attacked a hotel and office complex in one of Nairobi’s most affluent districts on January 15th. At least five gunmen forced...

Zimbabwe’s economic crisis prompts protests and repression

For a few zollars more ON JANUARY 16TH Zimbabweans awoke to a text message from Econet, the country’s main internet provider. Citing a warrant from the office of the president, the firm said that the day before it had suspended its services. “The matter is out of our control,” it added. States do not order blackouts unless they have something...

Thousands of Gulf Arabs are abandoning their homeland

CANADA LIES far north of her intended destination, but Rahaf Muhammad is happy to be enduring its harsh winter. The 18-year-old Saudi hoped to end up in Australia after escaping her allegedly violent family. But she was stopped on the way, in Bangkok. Saudi authorities pressed Thailand to send her back home. Ms Muhammad warned that her father,...

An Iranian pop star challenges the regime

Mehdi Yarrahi, reporting for duty THE POP star Mehdi Yarrahi was once a favourite of Iran’s ayatollahs. In 2017 he won the award for best pop album from the Ministry of Culture and Islamic Guidance. But now the regime thinks Mr Yarrahi is singing out of tune. In a video for the song “Pare Sang” (Broken Stone), the Arab crooner wears a jacket...

As Abdelaziz Bouteflika fades, Algeria considers a successor

NOBODY WOULD call him quick and lithe. But Abdelaziz Bouteflika has something in common with the cheetahs that dart across the Sahara: he is rarely seen. Algeria’s 81-year-old president has made few public appearances since suffering a stroke in 2013 and being confined to a wheelchair. Last month a meeting with Muhammad bin Salman, Saudi Arabia’s...

International

Despite Bitcoin’s Dive, a Former Soviet Republic Is Still Betting Big on It

ImageGeorgia provided land and cheap electricity so Bitfury, an American company, could set up a Bitcoin mining center in Tbilisi.CreditCreditDaro Sulakauri for The New York TimesDespite Bitcoin’s Dive, a Former Soviet Republic Is Still Betting Big on ItTax breaks, land deals and cheap energy have spurred cryptocurrency mining in Georgia, which...

Did Australia Poke a Hole in Your Phone’s Security?

Supported byDid Australia Poke a Hole in Your Phone’s Security?ImageOutside the the Sydney Opera House in Australia, where a new law empowers the authorities to compel tech giants to create ways around the encryption built into their products.CreditCreditBrook Mitchell for The New York TimesBy Nellie BowlesJan. 22, 2019SYDNEY, Australia —...

DealBook: Chilling Davos: A Bleak Warning on Global Division and Debt

DealBook Business and PolicySupported byDealBookChilling Davos: A Bleak Warning on Global Division and DebtImageThe circulation of a letter from the investor Seth A. Klarman is likely to add to the typical hand-wringing at the World Economic Forum in Davos, Switzerland. The letter says mounting debt since the financial crisis could lead to a panic.CreditCreditFabrice...

How Huawei Wooed Europe With Sponsorships, Investments and Promises

Supported byHow Huawei Wooed Europe With Sponsorships, Investments and PromisesImageHuawei's booth at last year's Mobile World Congress in Barcelona, Spain. The company plans to announce new handsets and provide an update of its 5G plans next month at this year's conference.CreditCreditEric Gaillard/ReutersBy Adam Satariano and Raymond ZhongJan. 22,...

Carlos Ghosn Is Denied Bail as Jail Stint Looks to Continue

Supported byCarlos Ghosn Is Denied Bail as Jail Stint Looks to ContinueImageCarlos Ghosn has been charged on three counts of financial misconduct at Nissan Motor.CreditCreditMark Lennihan/Associated PressBy Motoko RichJan. 21, 2019TOKYO — For the second time in a week, a Japanese court has rejected a bail request by Carlos Ghosn, the former global...