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

The Philippines, a country with dreadful traffic, may start to unclog

SHOULD YOU get up at 4am to get to work on time, or risk waiting until five? That is the question confronting many commuters in Manila, the capital of the Philippines, which has some of the world’s worst traffic jams. Geography is one reason: the 2m people trying to get in and out of the metropolis each day must squeeze into a narrow strip between...

Pakistan’s judges briefly stand up to the army

DURING AN EXCITED exchange on a Pakistani talk show earlier this month, a government minister produced a well-polished boot and placed it on the studio desk. Scorning the opposition’s claims to champion civilian authority over the armed forces, he accused them instead of “laying down and kissing” the boot. Even in the confrontational world of...

Malaysia’s reformist government has not put an end to sleaze

TO SEE HOW topsy-turvy Malaysian politics have grown, consider the case of the previous prime minister, Najib Razak. In 2018 the party he led lost power for the first time since independence. Mainly to blame were allegations of massive graft against Mr Najib, who denied wrongdoing but admitted that almost $700m had found its way into his bank accounts....

Commuters in Manila dream of starting at 5am instead of 4am

SHOULD YOU get up at 4am to get to work on time, or risk waiting until five? That is the question confronting many commuters in Manila, the capital of the Philippines, which has some of the world’s worst traffic jams. Geography is one reason: the 2m people trying to get in and out of the metropolis each day must squeeze into a narrow strip between...

Vietnam grapples with an unexpected surge in solar power

SOLAR POWER played almost no part in Vietnam’s energy mix in 2017. To speed the technology’s adoption, the government offered that year to pay suppliers a generous $0.09 for every kilowatt-hour produced by big solar farms, but only if they started operations within the following two years. It expected some 850MW of capacity to be installed. Instead,...

Europe

Despite a truce, US-EU trade relations are still tense

AS RECENTLY AS a week ago, a big transatlantic bust-up seemed inevitable, with the annual meeting of the World Economic Forum at Davos in Switzerland the most likely boxing ring. America had taken offence at France’s digital-services tax, which hits the likes of Amazon, Facebook and Google, on the ground that it discriminates against American companies....

Competition, sanctions and the new geopolitics of Russian gas

IN JANUARY 2009 Gazprom, Russia’s state-owned energy giant, cut off gas supplies through Ukraine, one of several disputes in which Russia wielded its energy might. Eleven years later, it seems poised to become even more dominant. Europe’s gas production is declining. Russia has both rising supply and new ways to export it. On January 8th President...

Airbus will help airlines hedge volatile ticket prices

THERE IS NOTHING that maddens online shoppers more than seeing air fares rocket just as they are about to click “buy”. Yet price turbulence may be an even bigger headache for airlines. Whereas carriers have some control over fares, these can be buffeted by surges in supply or demand, caused, say, by economic slumps or political rows. Over the past...

Transatlantic trade relations are still tense

AS RECENTLY AS a week ago, a big transatlantic bust-up seemed inevitable, with the annual meeting of the World Economic Forum at Davos in Switzerland the most likely boxing ring. America had taken offence at France’s digital-services tax, which hits the likes of Amazon, Facebook and Google, on the ground that it discriminates against American companies....

Why are rhodium prices on a roll?

WHEN ANNA SCOTT left her Honda Jazz in a commuters’ car park outside Oxford on January 10th, she had little reason to think that criminals would take an interest in the 12-year-old car. Yet the next afternoon a group of shifty characters were spotted sawing off its catalytic converter. Such incidents have become more frequent across Britain as prices...

Mena

One first lady is dead in Lesotho. Another has fled

ON JUNE 14TH 2017 Lipolelo Thabane was killed by gunmen outside her home near Maseru, the capital of Lesotho. Two days later Thomas Thabane, her estranged husband (pictured, right), was sworn in as prime minister of the mountainous kingdom. By his side was his new partner, the future Maesaiah Thabane (left), whom he married less than three months later....

Khalifa Haftar, the Libyan warlord, is not interested in compromise

TO CALL IT a success is a sign of low expectations, not high achievements. On January 19th the parties in Libya’s civil war gathered in Berlin for a peace conference. The Libyans themselves—Fayez al-Sarraj, who leads the UN-backed government in Tripoli, and General Khalifa Haftar, the warlord who controls most of the country—were invited only...

What 700,000 leaked documents reveal about Africa’s richest woman

ISABEL DOS SANTOS styles herself as a visionary, an entrepreneur and a potential future president of Angola. Her vast fortune was self-made, she boasts. Running Sonangol, Angola’s state oil firm, was a “big personal sacrifice”. Many Angolans “see me as a role model”, she recently told The Economist. Such claims have always seemed absurd. Ms...

Did Saudi Arabia’s crown prince hack the Amazon king?

THREE MONTHS ago, as executives gathered in Riyadh for a conference, a supporter of the Saudi crown prince allowed himself a moment of doubt. The businessman was fond of Muhammad bin Salman’s efforts to open a closed country and diversify its economy. But he fretted that the prince was too impulsive for his own good. He had already locked up...

Boris Johnson woos Africa

HOW TO PROMOTE a “global Britain” after Britain leaves the European Union? One possibility is to try to revive links with Africa, where Britain was once the leading colonial power. Boris Johnson, Britain’s prime minister, hosted about a third of the continent’s leaders at an “investment summit” in London on January 20th. Most of those...

International

Building the Perfect Meal With Sheep Lungs and a Suitcase

Some smugglers drive it across the border from Canada. Others sneak it through airports or send it in the mail, wrapping the contraband in T-shirts and towels to deceive the authorities. A few even make it at home.But this is no international drug ring. It is the black market for Scottish haggis, a savory pudding of boiled sheep innards wrapped in a...

London Police Are Taking Surveillance to a Whole New Level

LONDON — London’s police department said on Friday that it would begin using facial recognition technology in the city to identify people off the street in real time with video cameras, adopting a level of surveillance that is rare outside of China.The decision is a major development in the use of a technology that has set off a worldwide debate...

When the Prince of Wales Is Your Landlord

NEWQUAY, England — People who move to Nansledan, a new residential community in the southwestern corner of England, must abide by certain rules.Homes and doors can be painted only certain colors, including pastel pink and eggshell blue. Local businesses are welcome to set up shop, but no fast-food chains, please. And don’t think of tampering with...

London Police Amp Up Surveillance With Real-Time Facial Recognition

LONDON — London’s police department said on Friday that it would begin using facial recognition technology in the city to identify people off the street in real time with video cameras, adopting a level of surveillance that is rare outside of China.The decision is a major development in the use of a technology that has set off a worldwide debate...

For Haggis Purists in the U.S., the Law Is No Obstacle

Some smugglers drive it across the border from Canada. Others sneak it through airports or send it in the mail, wrapping the contraband in T-shirts and towels to deceive the authorities. A few even make it at home.But this is no international drug ring. It is the black market for Scottish haggis, a savory pudding of boiled sheep innards wrapped in a...